2025-09-01-R - Laserfiche WebLink

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the Lender agrees to make a loan to the Borrower in the aggregate principal amount of Five- Hundred Thousand Dollars($500,000.00)(the"Loan"). The closing of the Loan(the"Closing") shall occur on the date that is five(5)business days after the satisfaction of all conditions set forth in Section 3 1(the Closing Date"),provided,that in no event shall the Closing Date be later than the date that is er the Effective Date(the"Outside Date"). If the conditions to Closing - j Commented[MP1]:April 3,2026.allowing ample time for set forth in Section 3.1 are not satisfied by the Outside Date,this Agreement shall terminate as of l stagy to announce a"af&_ _ the Outside Date and the parties shall have no further rights or obligations hereunder. (b) Subject to satisfaction of all of the conditions set forth in Section 3.1,Lender will make the Loan to Borrower in a single disbursement of the Loan on the Closing Date. Section 1.2 The Note and Repayment of the Loan. (a) The Loan shall be evidenced by a promissory note made by the Borrower(the"Note"),substantially in the form attached hereto as Exhibit A,duly executed on behalf of the Borrower by its authorized representatives and dated the Closing Date. The Borrower hereby irrevocably authorizes the Lender to make(or cause to be made)appropriate notations on the schedule attached to the Note(or at the Lender's option,in its records),which notations,if made,shall evidence the date and outstanding principal balance of the Loan evidenced thereby and the date and amount of each payment thereon. Such notations shall be presumptive evidence of the subject matter thereof absent manifest error,provide however, that the failure to make any such notations shall not limit or otherwise affect the Loan or any of Borrower's obligations under this Agreement or the Note. (b) The Loan shall bear interest at the rate of zero percent per annum from the Closing Date. (c) Borrower shall make principal payments to Lender in the amounts set forth below on the dates set forth opposite each such principal payment: Amount of Principal Payment Date of Principal Payment $125,000.00 10/1/2027 $125,000.00 10/1/2028 $125,000.00 10/1/2029 $125,000.00 10/1/2030 All payments hereunder shall be made by check or wire transfer to the Lender in the lawful money of the United States. If a payment is due on a day that is not a business day(which shall be any day other than a Saturday or Sunday that the Lender is open for business and banks are not authorized or required to be closed under the laws of the State of Arkansas),such payment may be made on the next succeeding business day. The Borrower shall make all payments to the Lender's account set forth on Schedule II to this Agreement, or such other account as the Lender shall designate in writing to the Borrower not less than ten(10)days before a payment is due. 2