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FOR VALUE RECEIVED, * * * [Cap Corp.], hereby
promises to pay on or before November 30, 1996 to the
order of * * * [petitioner] all principal and interest
outstanding according to the attached Schedule A under
this note.
1. This note (the “Note”) shall bear interest from
the date hereof on the principal amount of the Note
outstanding from time to time, at the rate per annum
(on the basis of a 365-day year for the actual number
of days involved) of 10%.
2. This Note shall be governed by and constructed
in accordance with the laws of the State of California.
Sometime on or after November 30, 1996, Koehler signed a
document entitled “Schedule A” acknowledging that petitioner had
transferred funds to Cap Corp. that it was to repay. The
Schedule A contained the following:
Interest Principal Interest Total
Date Loans Accrued Balance Balance Balance
1-1-95 -- -- $858,990.87 -- $858,990.87
1-31-95 -- $7,295.54 858,990.87 $7,295.54 866,286.41
2-28-95 -- 6,824.86 858.990.87 14,120.40 873,111.27
3-31-95 -- 7,530.88 858,990.87 21,651.28 880,642.15
4-30-95 ($360,000.00) 7,295.54 498,990.87 28,946.82 527,937.69
5-31-95 196,425.65 4,374.71 695,416.52 33,321.53 728,738.05
6-30-95 (136,412.00) 5,906.28 559,004.52 39,227.81 598,232.33
7-31-95 5,168.00 4,900.86 564,172.52 44,128.67 608,301.19
8-31-95 (97,422.00) 4,946.17 466,750.52 49,074.84 515,825.36
9-30-95 174,405.00 3,964.18 641,155.52 53,039.02 694,194.54
10-31-95 150,000.00 5,621.09 791,155.52 58,660.11 849,815.63
11-30-95 289,436.76 6,719.40 1,080,592.28 65,379.51 1,145,971.79
12-31-95 40,000.00 9,473.69 1,120,592.28 74,853.20 1,195,445.48
1-31-96 135,000.00 9,824.37 1,255,592.28 84,677.57 1,340,269.85
2-29-96 86,000.00 10,319.94 1,341,592.28 94,977.51 1,436,589.79
3-31-96 40,000.00 11,761.90 1,381,592.28 106,759.41 1,488,351.69
4-30-96 169,000.00 11,734.07 1,550,592.28 118,493.48 1,669,085.76
5-31-96 72,000.00 13,594.23 1,622,592.28 132,087.72 1,754,680.00
6-30-96 141,100.00 13,780.92 1,763,692.28 145,868.64 1,909,560.92
7-31-96 181,000.00 15,462.51 1,944.692.28 161,331.15 2,106,023.43
8-31-96 -- 17,049.36 1,944,692.28 178,380.50 2,123,072.78
9-30-96 138,926.00 16,516.56 2,083,618.28 194,897.07 2,278,515.35
10-31-96 208,000.00 18,267.34 2,291,618.28 213,164.41 2,504,782.69
11-30-96 235,657.46 19,463.06 2,527,275.74 232,627.46 2,759,903.20
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