Common use of A Note Clause in Contracts

A Note. This Agreement recognizes the reduction of the principal amount of the A Note and the payment of interest thereon to the extent of payments made by Original Borrower prior to the date of execution of this Agreement. The parties acknowledge and agree that, as of the date of this Agreement, the principal balance of the A Note is $10,219,630.43 and interest on the Note is paid to July 31, 2005. Assuming Borrower acknowledges and agrees that the Loan, as evidenced and secured by the Loan Documents, is a valid and existing indebtedness payable by Assuming Borrower to Lender. The parties acknowledge that Lender is holding the following escrow and/or reserve balances: Tax Escrow: $ 142,829.88 Insurance Escrow: $ 13,557.69 Replacement Reserve: $ 1,076.06 Repair and Remediation Reserve: $ 0.00 Tenant Improvements and Leasing Commissions: $ 8,150.00 Other Reserves: $ 212,100.00