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<br />COMMERCIAL AGRt"':'l!L1URAL PROMlSSOI!.Y NOTE., O:"'.xyl RATE n VARIABLE RATE
<br />10-222-2 672-3963 ., 09/1719"',;;.;~ 09/01/9_
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<br />BORROWER: ~ANCHEZ, DITCH & RESrnvoIR extENDER: .PII!ST,NATIONALBANKOPLAJARA
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<br />. m~m . 1
<br />jr;./J/~"I P.O. BOX 7 SAN ACACIO CO 81150. LAJARA;C081I40 27'741
<br />"f '~", I"' : ;..:" -;; ~-c\,,::: . " ~
<br />PROMISE 1'0 PAY: For value received. Borrower promises, 10, pay'.tQ,.th~:.Ordti-;'f Lender the pri!llii~nt of
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<br />SEVENTY THOUSAND AND NO/100-----..--------1$ 7-CHHtO';OO PIUS..im~in~e.lmr31d "'"\cipaI
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<br />balance at ~e rate and in the man~er. described belO. w. All.~ounts ~ivF ~y.~~'~ .' ~ei rvst~ .ex~se;'l. fhen
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<br />loaccrucdmlereSl,andthentopnnclpal. i '. ".;. - )': '"'!';' ..'. \., ,(17,1"...). \
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<br />FIXED INTEREST R~TE: Interest shall be computed o~ the basis:?r}~ days per,s,~ and th~.~~~)num~i2tdaYs
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<br />elapsed. Interest on thiS Note shall be calculated at the fixed rate of . percent L-.::......%) per~num or lhe
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<br />highest tate allowed by law, whichever is less. . . .j L .
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<br />VARIABLE INTEREST RATE: This ~ote has a 'variable, intt:rest rate feature; and may,change fro":l tim~~e. Interest on
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<br />It:L~ Note shall beca1culated at the vanable rateef ~ee & 54/100 percent ( 3. 54 %) per annum ma: the Index Rate
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<br />described belo~. The initiallndex Rate isfourteen & 54/1 09Jx;rcent (14. 54%) per annum and the initial rate on this
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<br />Noteshallbe Eleven percent~%)perannum.
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<br />Interest shall be computed on the basis of 360 days'per year and the actua! num~r of days elapsed. Any change in the interest
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<br />t;",i.. i'\;St:lii_i"i& fr'-'ll' .-,cha.nge in :h.:; Ind-"A R..tc wi:..: b::.:.ffecth-"on ~A orE CF C P.t.P-CE
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<br />The Index Rate for this Note shall be:
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<br />XX Lender's Rase or Index Rate - Lender's Base or Index Rate is a. discretionary rate. The rate is publicly 8.'-
<br />DOunCed or posted by Lender from time to time and does not necesSarily reflect the rate that Lender charges to its
<br />best or most creditw('lnhy customers.
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<br />Independent Index. The Ind(;pendent Index used for this Note shall be:
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<br />MINIMUM RATFlMAXlMUM RATE: The minimum interest rate on this Note lihaU be Eleven percent <1..!..&-%)
<br />per annum. The maximum inter~t rate on this Note shall not exceed highest rate allowed by law, whichever is less.
<br />~ DEFAUI...T RATE: In the eventofa default under this Note, lhe interest rate shall be inaeased by FOUR percent
<br />I}\ U- %) per annum so long as this increase does not e;xceed the highest rate allowed by law.
<br />\ , REVOLVING OR DRAW FEATURE: U checked below, this Note PQSSCSSCs a revolving ~r draw feature and the tenns and
<br />t conditions pertaining thereto:
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<br />;- _2..-i_ This Note possesses 8 revolving feature. BOrrOwer'Shall be' entide4 'to bi::rin'lw up to the fun 'Principal amount of
<br />"', ') the Note from time to time during the tenn of this Note.,
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<br />lhis Nole possesses a dr-aw leaaue. Bonvwer ~liw.i be,cl'ii.iil~ w i'ii;.k.:; vii~ Qi'r.ico:. ~;',':; 1.:.0"':0::: th:;:N~~~. ~:
<br />aggregate anlOunt of such dra~s shall not exceed the .foil ~rinci~a1 ~o~t!'f this Note, .
<br />Borrower shall be entitled to make additional draws under this Note subject,to Ole limi~ons described above and the fon"w-
<br />ing conditions:
<br />The draw f{'4uested by Borrower does not exceed Lender's lending limit in any manner.
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<br />The Lender is willing to honor the draw in its sole discretion.
<br />PAYMENT SCHEDULE: Borrower shall pay the principal s..,d interest accordint to the following schedule:
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<br />PAYABLE IN 2 ANN.PMTS. OF $23,300 + INT.BE~IN. 9-1-92,9-1-93 with final prnt.
<br />PURPDSE:AGRICULTURE (REPAIR RESERVOIR) bal. of P+I due 9-1-94
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<br />MATURITY DATE:9-1-94
<br />All payments shall be made to Lender at its address described above and in lawfl.1l currency ofth~ United States of America.
<br />PRF.PAYMENT/MINIMUM FINANCE CHARGE: This Note may 00 prepaid in part or in full on or before its maturity date,
<br />If this Nete: contains more than one: installment, all prepayments shall be applie(f as set forth above and against the remaining
<br />iustallments in the inverse order of their maturity. If this Note is prepalo in iUD, Borrower siuill pay i.emier tI 11I;";"111.1110
<br />finance charge of :; 25. 00 plus its closing cost~.
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<br />X-X-J.- It is muwally agreed by and bet,veen Borrower and Lender thal the respective parties waive trial by jury in any
<br />action, proceeding or counterclaim brought by either of the parties against the other on any matter whatsoever
<br />arising oul of or in any way connected with this Loan Agreement.
<br />BORROWER ACKNOWLEDGES TIlAT BORROWER HAS READ, UNDEI\STANDS, AND AGREES TO TIlE TERMS
<br />AND CONDITIONS OF THIS NOTE.
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<br />Dated: 00/17/01
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<br />,19_.
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<br />nORROWER:~ BORROWER:
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<br />RORkOWER' ~ ~RROWER'~~ :; hi
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<br />BORROw~:.fL~~ :::7~R BORROWER, By: ;-;"-:.(~...{%Q
<br />, .~ WM-ft6 mes, re. ' O::::I,....L<::
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<br />ORA'rOO BANK Pll.ODOc:TS.I/'lC. I'NALAJ~.CAN ((.19)
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