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TITLE:
FIRST NOTE ON DOWNTOWN MIXED USE PROJECT
TYPE:
To be created
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CONTROL:
Owner
PRICE:
$1,200,000
FACE VALUE:
$1,200,000
BALANCE OWING:
$1,200,000
MONTHLY PAYMENT:
$8,000
ANNUAL PAYMENT:
$96,000
INTEREST RATE:
8.00%
ORIGINATION DATE OF NOTE:
Nov 1, 2022
MATURITY DATE OF NOTE:
Oct 31, 2027
HAVE:
First position Note secured by 56,000 sq ft of commercial property on the Public Square in Shelbyville, IN
CAN ADD:
Income property, notes, cash, land
REMARKS:
We like our property and need to restructure the debt. We would like to buy your property with a new First Note on ours.
NOTE COLLATERAL INFORMATION
TYPE OF COLLATERAL:
Building
LOCATION:
Shelbyville, Indiana
RECORDED LIEN POSITION:
1st
INSTRUMENT OF SECURITY:
Mortgage
PERSONAL GUARANTEE?
Yes
COLLATERAL VALUE:
$1,650,000
COLLATERAL ANNUAL EXPENSES:
$70,000
COLLATERAL NOI:
$50,000
COUNSELOR:
Blake Allen
Allen Realty
108 Canon Ave
Manitou Springs,
Colorado,
80829
