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UB $800,000 Radcliffe loan and the renewal of that loan, Union
Bank maintained a lien on that deposit.
The interest rate on the original UB $800,000 Radcliffe loan
was set at Union Bank's LIBOR plus 1.5 percent or its reference
rate plus 1 percent. That loan was to bear interest at Union
Bank's LIBOR plus 1.5 percent if Radcliffe selected that rate in
a manner essentially the same as that described above with
respect to the UB $570,000 renewed loan first through third
renewals. The period for which that rate was to be in effect
could have been between one and six months. If Radcliffe did not
select the LIBOR-based rate, the UB $800,000 Radcliffe loan was
to bear interest at Union Bank's reference rate plus 1 percent.
The promissory note documenting that loan provided that interest
was payable by Radcliffe on the 10th of each month. The per-
centage interest rate on the original UB $800,000 Radcliffe loan
was initially 10.91 percent, and, as of October 15, 1985, it was
10.14 percent where it remained until that loan became due.
Interest on that loan was paid on or about October 31, 1985.
During the period in which the Multi-Credit $800,000 deposit
was in Standard Chartered Bank HK, it was used to purchase fixed
time deposits in that bank, as follows:
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