HomeMy WebLinkAbout2008-233 Promissory Note - WILMA LLC
Exh;bi+ 'B
PROMISSORY NOTE
$400,000
Ashland, Oregon
November ). '1, 2008
"Payor", the undersigned limited liability company, promises to pay to the order
of the City of Ashland, a municipal corporation, as "Payee", at Ashland, Oregon, the
sum of Four Hundred Thousand Dollars ($400,000), with no interest thereon, in the
event it defaults under that "Agreement For Construction of Required Improvements
and Installation and Maintenance of Plant Materials" CAgreement"), a copy of which is
attached hereto and incorporated herein by this reference. Said default shall occur
after Payor has received written notice of Payor's failure to comply with the terms of the
Agreement and Payor's subsequent failure to cure the non-compliance within the fifteen
(15) day cure period.
Attorney Fees: If this promissory note is placed in the hands of an attorney for
collection, payor promises and agrees to pay the reasonable attorney's fees and
collection costs of the holder hereof, and if suit or action is filed hereon, also promise to
pay (1) holder's reasonable attorney's fees to be fixed by the trial court, and (2) if any
appeal is taken from any decision of the trial court, such further sum as may be fixed by
the appellate court, as the holder's reasonable attorney's fees in),he appellate court.
By:
Its: