Ordinance 1982-764 - Laserfiche WebLink

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This Bond bears interest, computed on the basis of a year of 365 days and paid for the actual number of days elapsed, at the following rates: For the Years Following Limitations On Rate of Interest Delivery of the Bond Interest Rate (a) 11% per annum years 1 and 2 -- (b) 75% of the Prime Rate years 3 to 10, provided that of Denver National inclusive in no event Bank, such interest shall such in- rate to be fixed on terest rate be , 198 , less than 11% and "':'"'T" - to be adJusted nor more than semiannually there- 14% . after on , and , each year~ - ( c ) 75% of the Prime Rate years 11 to 20, provided that of Denver National inclusive in no event Bank, such interest shall such in- rate to be fixed on terest rate be , 199 , less than 11% and to be adjusted nor more than semiannually there- 24%. after on , and , each year. - Installments of principal and interest shall be applied first to interest and then to principal with a final payment on , 2002, of the then outstanding principal and interest - (unless this Bond shall have been previously paid pursuant to the terms hereof); both the principal of and interest on this Bond are payable in lawful money of the united States of America at the principal office of the First National Bank of Louisville, 833 Main Street, Louisville, Colorado, 80027, or at such other place as the Lender may designate in writing. In the event any !;;emiannual payment of principal and interest is not paid when due, such payment will become delinquent, and upon demand of the Bondholder, additional interest will be come due in the amount of eight percent (8%) per ann um on the unpaid delinquent principal and interest installment, fOr the period of time that the installment remains unpaid after it was due. - 13 -