Laserfiche WebLink
of,SNC SNrf <br /> a <br /> r� e <br /> �y a <br /> Arkansas Industrial Development Commission <br /> April 28, 1987 <br /> The Honorable Jim Shirrell <br /> Mayor, City of Batesville <br /> Batesville, AR 72501 <br /> Dear Mayor Shirrell: <br /> Please consider this document as a Letter of Agreement between <br /> the AIDC and the City of Batesville with reference to the Omega <br /> Container Batesville, Inc. Economic Development Set-Aside. <br /> The AIDC does agree upon liquidation of all equipment on which <br /> Citizens Bank of Batesville has a lien and was subordinated to <br /> them by AIDC, and upon sale of equipment purchased through bond <br /> proceeds, and upon sale of the facility, i.e. , building and land <br /> in Batesville which would go towards paying off principal, <br /> interest, and legal fees incurred by AIDC in this liquidation, <br /> we do agree that any excess over and above this amount will be <br /> (W remitted to the City of Batesville in partial repayment of the <br /> Economic Development Set-Aside loan. In return, we request <br /> execution of the attached Deed of Release, the UCC Termination <br /> Statement, and the Consent to Execution and Reaffirmation of <br /> Indebtedness. <br /> Best ;atrick s, <br /> Larr <br /> Direc or of Industrial Finance <br /> Signed: Arkans I trial Development Commission <br /> By: ' �I <br /> Larr Patrick, Direct r of Industrial <br /> Finance <br /> City of Batesville <br /> By: I - <br /> 149 /,/,, , /'/r <br /> One State Capitol Mall • Little Rock, Arkansas 72201 • (501) 371-1121 <br />