- Handout 1 May 15 2018 For Value Received Russell Realty Co Inc Having An Address At 129 Broadway Huntington Ny 1 (88.15 KiB) Viewed 33 times
- Handout 1 May 15 2018 For Value Received Russell Realty Co Inc Having An Address At 129 Broadway Huntington Ny 2 (15.93 KiB) Viewed 33 times
HANDOUT #1 May 15, 2018 FOR VALUE RECEIVED, Russell Realty Co., Inc. having an address at 129 Broadway, Huntington, NY (“Borrower") hereby covenants and promises to pay to The Magnetic Fund of Long Island, L.P, a Delaware limited partnership, having an address at 982 Montauk Highway, Suite 3, Bayport, NY 11705 ("Lender"), at Lender's address first above written, Four Hundred. Thousand Dollars ($400,000.00), lawful money of the United States of America, together with interest thereon computed from the date hereof at a rate equal to six and one half (6.5%) percent per annum, which interest shall be payable, interest only at the aforesaid rate in monthly installments commencing on the 15th day of June, 2018, and continuing on the fifteenth day of each month thereafter, until May 144, 2020, on which date all outstanding principal and accrued interest shall be due and payable. Interest shall be calculated on the basis of an actual number of days / 360 day year. Borrower covenants and agrees with Lender as follows: 1. Borrower will pay the indebtedness evidenced by this Note as provided herein. 2. This Note is secured by a mortgage of even date herewith the "Mortgage"), which Mortgage is a lien upon the real property known as 123 Smith Street, Quogo, NY and more particularly described in said Mortgage. 3. The holder of this Note muy declare the entire unpaid amount of principal and interest under this Note to be immediately due and payable if Borrower defaults in the due and punctual payment of any installment of principal or interest hereunder, and more than ten (10) days has elapsed beyond the due date for such payment. 4. The Borrower shall have the right to prepay the entire indebtedness evidenced by this Note on or after November 15, 2018 without penalty
4. What type of endorsement (if any) is on the back! 5. The party that holds the right to payment on Original Issue 6. The party to whom the right to payment was transferred - 7. What is the Principal Amount? 8 Is this a secured loan? What is the collateral