Agmt17 Town of Woodside - Laserfiche WebLink

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Exhibit B PROMISSORY NOTE $59,000.00 DATE: For value received, the Town of Woodside, a municipal corporation ("Woodside"), hereby promises to pay to the City of Redwood City, a charter city and municipal corporation (the "City"), in United States currency, the principal sum of Fifty-nine Thousand Dollars ($59,000), together with interest thereon, if applicable, as provided below. 1. Inter-Aeenev Loan Aereement This Promissory Note ("Note") is entered into pursuant to that certain Inter -Agency Loan Agreement by and between the City and Woodside, dated (the "Agreement'). In the event of a conflict between the provisions of this Note and the Agreement, the provisions of the Agreement will govern. 2. Reoavment Provisions The principal amount of Fifty-nine Thousand Dollars ($59,000) plus all accrued interest is to be repaid pursuant to the Principal and Interest Repayment Schedule, which is attached as Exhibit A to the Agreement and incorporated herein by reference. 3. Prepayment Woodside may prepay this Note in full at any time without premium or penalty, so long as Woodside pays the entire outstanding principal balance together with any outstanding interest accrued hereunder. 4. Govemine Law and Venue This Note shall be construed in accordance with and be governed by the laws of the State of California. Any action brought to enforce the terms of this Note shall be in the Superior Court of California, County of San Mateo. [Signature Page Follows] REV: 02-17-17 EI Page 5 of 6 ATTY/AGR.2017.038/Town of Woodside - Inter -agency Loan Agreement