6.1. HRSR 04-03-2023 - Laserfiche WebLink

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Promissory Note Creditor: 13065 Orono Parkway Elk River, MN 55330 Date: Borrower(s): The undersigned Borrower(s) (referred to herein as "Borrower"), jointly and severally if more than one, promise(s) to pay to the order of the Creditor named above (referred to herein as "Creditor") at the address listed above or whatever location Creditor may specify, the sum of $, plus interest on the unpaid balance at an annual rate of loan has been paid in full. . Interest will begin to accrue as of the date of this note and continues to accrue until the Security This note IS secured by a Mortgage on my residence at: IS NOT secured by other collateral or property. If secured, the Legal description of the property securing this Note is: Repayment Borrower agrees to repay this Promissory Note in monthly installments of $Principal and Interest at a rate of , beginning on and on the same date each month until the loan maturity date of or until the loan is otherwise paid in full, whichever occurs first. Prepayment Borrower may prepay this loan in part or in whole, at any time prior to the maturity date, without penalty. If a partial payment (also known as a principal reduction payment) is made at any time, it does not change the regularly scheduled monthly payments required or any other terms required under this Promissory Note. Assumption Anyone buying or acquiring an interest in the property secured by this Promissory Note may NOT assume the remaining debt. Initial(s)Page 1 of 3 An itemization of amount financed is available upon request. Housing and Redevelopment Authority CEE / Elk_River_Revolving_Note / 01-19 X in and for the City of Elk River, Minnesota