NOTICE OF FINAL AGREEMENT

EX-10.3 4 exh103_082611.htm NOTICE OF FINAL AGREEMENT exh103_082611.htm
Exhibit 10.3
 
NOTICE OF FINAL AGREEMENT
 
 
Principal
Loan Date
Maturity
Loan No
Call / Coll
Account
Officer
Initials
$1,906,781.18
07-11-2011
09-09-2011
1089922418
410 / 4
MACC PE00
755
  
References in the boxes above are for Lender’s use only and do not limit the applicability of this document to any particular loan or item.
Any item above containing “***” has been omitted due to text length limitations.
 
Borrower:
 
MACC PRIVATE EQUITIES INC.
101 2ND ST SE SUITE 800
CEDAR RAPIDS, IA ###-###-####
 
 
Lender:
 
CEDAR RAPIDS BANK AND TRUST COMPANY
500 1ST AVENUE NE STE 100
CEDAR RAPIDS, IA 52401
 
 
           
     
IMPORTANT: READ BEFORE SIGNING.  THE TERMS OF THE LOAN AGREEMENT SHOULD BE READ CAREFULLY BECAUSE ONLY THOSE TERMS IN WRITING ARE ENFORCEABLE.  NO OTHER TERMS OR ORAL PROMISES NOT CONTAINED IN THE WRITTEN LOAN AGREEMENT MAY BE LEGALLY ENFORCED.  BORROWER MAY CHANGE THE TERMS OF THE LOAN AGREEMENT ONLY BY ANOTHER WRITTEN AGREEMENT.
 
As used in this Notice, the following terms have the following meanings:
 
Loan.  The term “Loan” means the following described loan: a Variable Rate Nondisclosable Loan to a Corporation for $1,906,781.18 due on September 9, 2011.  This is a secured renewal loan.
 
Loan Agreement.  The term “Loan Agreement” means one or more promises, promissory notes, agreements, undertakings, security agreements, deeds of trust or other documents, or commitments, or any combination of those actions or documents, relating to the Loan, including without limitation the following:
 
LOAN DOCUMENTS
Corporate Resolution:  MACC PRIVATE EQUITIES INC.                                                                                                Change In Terms Agreement
Disbursement Request and Authorization                                                                                        Notice of Final Agreement
 
Parties.  The term “Parties” means CEDAR RAPIDS BANK AND TRUST COMPANY and any and all entities or individuals who are obligated to repay the loan or have pledged property as security for the Loan, including without limitation the following:
    
           
 
Each Party who signs below, other than CEDAR RAPIDS BANK AND TRUST COMPANY, acknowledges, represents, and warrants to CEDAR RAPIDS BANK AND TRUST COMPANY that it has received, read and understood this Notice of Final Agreement.  This Notice is dated July 11, 2011.
 
BORROWER:

MACC PRIVATE EQUITIES, INC.
         
By:
 /s/ David R. Schroder  
By:
 /s/ Robert A. Comey  
 
DAVID R SCHRODER, President/Secretary of MACC
    
Robert A Comey, Executive V. P./CFO of MACC
 
PRIVATE EQUITIES INC.
    
PRIVATE EQUITIES INC.
         
LENDER:
      
 
CEDAR RAPIDS BANK AND TRUST COMPANY
      
 
X
 /s/ John Hall      
 
John Hall, Asst. Vice President