2025-09-01-R - Laserfiche WebLink

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EXHIBIT A PROMISSORY NOTE September 30,2025: $500,000.00 THE CITY OF BATESVILLE,ARKANSAS,a municipal corporation with offices at 500 E. Main Street, BATESVILLE, AR 72501 (the "Borrower"), for value received, hereby promises to pay to the order of THE WALTON FAMILY FOUNDATION,a Delaware nonprofit,nonstock corporation, (the"Lender"), or holder, at its offices at 215 NW A Street,Suite 200,Bentonville,Arkansas,72712,or at such other place or places in the United States of America as the holder hereof may designate in writing from time to time,the amount of Five-Hundred Thousand Dollars($500,000.00), or such lesser amount as shall be outstanding hereunder,as reflected on Schedule I attached hereto and/or in the Lender's records,together with any unpaid interest thereon. Principal and interest under this Note shall be due and payable at such times as are specified in the Agreement(as defined below),unless earlier repaid pursuant to the provisions set forth in the Loan Agreement. The Lender shall,and is hereby authorized to,make(or cause to be made) appropriate notations on Schedule I attached hereto(or,at its option,in its records),which notations, if made, evidence, inter alia, the date the Loan is disbursed, the outstanding principal balance of the Loan after each payment of principal and the date and amount of each payment of principal. Such notations shall be presumptive evidence of the accuracy of the amount so recorded absent manifest error;provided,however,that the failure of the Lender to make any such notation shall not limit or otherwise affect the Loan or any obligation of Borrower under this Note or the Loan Agreement(hereinafter defined). This Note is the Promissory Note of the Borrower referred to in that certain Loan Agreement dated as of the date hereof(as amended, restated, supplemented or otherwise modified from time to time)(the"Loan Agreement"), between the Borrower and the Lender, and the holder hereof is entitled to the benefits of such Loan Agreement and may enforce the provisions thereof and exercise the remedies provided thereby or otherwise available in respect thereof. Capitalized terms used herein and not otherwise defined are used herein as defined in the Loan Agreement. This Note may be prepaid by the Borrower in whole or in part, without premium or penalty, at any time or from time to time. This Note is an unsecured, full recourse obligation of the Borrower. This Note shall be governed by and construed in accordance with the laws of the State of Arkansas applicable to contracts made entirely within such state. The Borrower hereby irrevocably and unconditionally submits to the nonexclusive jurisdiction of the state courts of the State of Arkansas and of the United States District Court of the Western District of Arkansas, and any appellate court from any thereof, in any action or proceeding arising out of or relating to this Note,or for recognition or enforcement of any Exh.A-3