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<br /> &5 VJl~'JflÆ )]J Æ Ji:!l JJK lirM Iff) Vfflliffllgrg @@o <br /> SAN MARCOS, TEXAS <br /> May 6, 1991 /:':Î3456?,x;; <br /> ~,',\ ' .." ,) <br /> / ->.. <br /> /;..;', '~ <br /> < !~A Y '9 ....~ <br /> Southwest Texas State Support Foundation Rec~ 91 ~:: <br /> c¡¡; ~ ~ <br /> Box 6 ~,f~ ,~~/ <br /> Southwest Texas State University TCtI$:'i' I <br /> .,.. J <br /> San Marcos, Texas 78666 ' .,-,.:"'>' <br /> -ç )'-Y)J'/ <br /> : _:.'-~>./ <br /> Dear Dr. Gilcrease: <br /> This is our committment to lend up to $600,000.00 to the <br /> SWTSU Support Foundation for the purchase, of the Fire <br /> Station Studio and adjacent parking lot. Terms of the loan will <br /> be: <br /> Term: Monthly principal and interest claculated <br /> on a 15 year amortization with a 5 year <br /> balloon. <br /> Rate: State Bank & Trust <br /> Base + 1 %, floating <br /> Collateral: 1st lien on Fire Station Studio and the <br /> adjacent parking lot <br /> Funding will be contingent upon: <br /> 1.) Agreement by Texas Department of Commerce <br /> to reduce principal by $150,000 within 45 days <br /> of loan funding, or equivilant collateral pledged <br /> as a substitute. <br /> 2.) Proper execution of all documents. <br /> 3.) Subject to final legal review. <br /> If we may answer any further questions, please let me know. <br /> Sincerely, <br /> ì <br /> ) . /' é. ,-f --) <br /> /r '- <br /> J. E. Davis <br /> President <br /> JED /jd <br /> 21 <br /> I P a BOX 649 <br /> JAMES E, DAVIS SAN MARCOS. TEXAS 78667-0649 <br /> PRESIDENT <512> 396.4411 <br />