HomeMy WebLinkAboutPAC Equipment loan agmt between Mercantile & Village Financial 0 $1,529,504 and $119,500Disbursement Instructions
Mercantile Bank hereby is instructed to make a Borrower Loan Account Disbursement in the amount of
$1,529,504.00 into the Borrower Loan Account for the purpose of making disbursements of Loan Proceeds
from the Borrower Loan Account to (or for the account of) Borrower in accordance with the terms and
conditions of the Agreement and the other Loan Documents. All terms used in these Disbursement
Instructions without definition shall have the meanings ascribed thereto in that certain Loan Agreement (PAC
Sound Equipment), dated as of August 31, 2009, by and between Mercantile Bank and Village Financial, LLC.
Dated:
,310/61.1
CITY OF CARMEL REDEVELOPMENT
COMMISSION
By
Lester S. Olds, Executive Director
Mercantile Bank hereby is instructed to make a Borrower Loan Account Disbursement in the amount of
$119,500.00 into the Borrower Loan Accountfor the purpose of making disbursements of Loan Proceeds from
the Borrower Loan Account to itself as payment of Lender Fees and /or Loan Costs due and owing to Lender
under the Agreement. All terms used in these Disbursement Instructions without definition shall have the
meanings ascribed thereto in that certain Loan Agreement (PAC Sound Equipment), dated as of August 31,
2009, by and bgtwe n Mercantile Bank and Village Financial, LLC.
Dated: e
CITY OF CARMEL REDEVELOPMENT
COMMISSION
By
Lester S. o ds, Executive Director