HomeMy WebLinkAbout1994-155 Prom. Note - PainterPROMISSORY NOTE
$2,231.15
Ashland, Oregon, March 25, 1994
For value received, I (or if more than one maker), we, jointly and severally, promise to
pay to the order of the City of Ashland, Oregon ("City"), at City Hall or such other
place as the City may designate, the principal sum of Two thousand two hundred
thirty one and 15/100 dollars ($2,231.15), plus accrued interest computed on the sum
of $1,872.27, at the rate of one per cent per month from this date until paid; and plus
penalties computed on the sum of $1,872.27 at the rate of ten per cent per month
from this date until paid; payable in thirteen weekly installments. The first twelve
installments shall be not less than $171.00 in any one payment and the thirteenth
payment shall be for $179.15; interest shall be paid weekly and is included in the
minimum payments above required; the first payment to be made on or before 5:00
p.m., Friday, March 25, 1994. Subsequent payments shall be made weekly on each
Friday thereafter, on or before the time set forth above, until the whole sum, principal
and interest has been paid. Penalties shall be paid as provided below.
If all installments are paid as set forth in this note then the penalties specified above
shall be waived by the holder of this note. If any installment is not so paid, all
principal, interest and penalties become immediately due and collectible at the option
of the holder of this note. If this note is placed in the hands of an attorney for
collection, I/we promise and agree to pay holder's reasonable attorney's fees and
collection costs, even though no suit or action is filed; however, if a suit or an action is
filed, the amount of such reasonable attorney's fees shall be fixed by the court, or
courts in which the suit or action, including any appeal therein is tried, heard or
decided.
Terry Painte¢, Promisor
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