EX-10.3
from 8-K
3 pages
1 2 3 4 if This Form Is Used in a Consumer Credit Transaction, Consult Legal Counsel. 5 This Is a Legal Instrument. if Not Understood, Legal, Tax or Other Counsel Should Be Consulted 6 Before Signing. 7 8 Promissory Note 9 10 U.S. $ 840,000.00 Denver, Colorado 11 Colorado 12 Date: September 15, 2014 13 14 15 16 1. for Value Received, the Undersigned (Borrower) Promise(s) to Pay 17 Thomas S. Yang (Note Holder) or Order, the Principal Sum of Eight Hundred Forty Thousand and 00/100 Dollars, 18 ($840,000.00)with Interest on the Unpaid Principal Balance From September 16, 2014 Until Paid, at the Rate of 7, 8, 9 19 Percent Per Annum. Principal and Interest Shall Be Payable at 2700 Youngfield St., Ste. 280, Lakewood, Co 80215 , or Such Other 20 Place as Note Holder May Designate, in 24 Payments of Five Thousand Nine Hundred Thirty-Six and 95/100 US Dollars 21 ($5,936.95) Due on the 16th Day of Each Month, Beginning November 1,2014. Such Payments Shall Continue Until 22 the Entire Indebtedness Evidenced by This Note Is Fully Paid; Provided, However, if Not Sooner Paid, the Entire Principal 23 Amount Outstanding and Accrued Interest Thereon, Shall Be Due and Payable on October 16, 2019. 24 First and Second Year Interest Rate With 25 Year Amortization Monthly Payment at $5,936.95. 26 Third and 4th Year Interest Rate With 25 Year Amortization Monthly Payment at $$6,277.73. 27 Fifth Year Interest Rate With 25 Year Amortization Monthly Payment at $6,639.64. 28 29 2. Borrower Shall Pay to Note Holder a Late Charge of 8 % of Any Payment Not Received by Note Holder Within 24 Days 30 After the Payment Is Due. 31 32 3. Payments Received for Application to This Note Shall Be Applied First to the Payment of Late Charges, if Any, Second to the 33 Payment of Accrued Interest at the Default Rate Specified Below, if Any, Third to Accrued Interest First Specified Above, and The
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