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(a) Interest on the unpaid principal balance shall be
paid annually. The first interest installment of SIXTY-FOUR
THOUSAND TWO HUNDRED THIRTY-SEVEN AND 26/100 ($64,237.26)
DOLLARS shall be paid on the 30th day of November, 2001.
Subsequent annual interest installments of TWO HUNDRED FIFTY
FOUR THOUSAND NINE HUNDRED FORTY NINE THOUSAND AND 02/100
($254,949.02) DOLLARS shall be paid on the 30th day of
November, 2002, and on the same day of each year thereafter
until and including the 30th day of November, 2011; and
(b) On the 30th day of November, 2012, all
accrued interest to that date plus SIX HUNDRED SEVEN
THOUSAND TWENTY ONE AND 49/100 ($607,021.49) DOLLARS of
principal shall be paid, and subsequent payments of
accrued interest plus SIX HUNDRED SEVEN THOUSAND TWENTY
ONE AND 49/100 ($607,021.49) DOLLARS of principal shall
be paid on the same day of each year thereafter through
the 30th day of November, 2018; and
(c) The entire principal balance plus all accrued
interest shall be paid in full eighteen (18) years from
date hereof, that is, on July 31, 2019.
(d) All payments hereunder shall be applied first
to interest and then to principal. Interest shall be
computed based on a 365-day year.
This Note is secured by a Trust Deed on real
property of even date, which real property is situated
in Multnomah County.
If any of said installments are not paid within
ten (10) days of the date due, or in the event of
default hereunder or under the Trust Deed securing this
Note, the then unpaid balance of this Note, both
principal and interest, shall become immediately due
and collectible at the option of the holder of this
Note.
The promissory note did not contain a signature line for Kumiko
Talmage, and she did not sign it.
On August 20, 2001, the Multnomah County Circuit Court
entered a Stipulated Judgment of Dissolution of Marriage; Money
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Last modified: March 27, 2008