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<br />SAMPLE FINANCIAL INSTITUTION COMMITMENT LETTER <br /> <br />(On Lender Stationery) <br /> <br />October 21,1991 <br /> <br />Mr. Ismael Toledo <br />XYZ Manufacturing Corporation <br />1017 S. Flores St. <br />Some City, Texas 78711 <br /> <br />Dear Mr. Toledo: <br /> <br />Pursuant to our discussion and based on a review and assessment of your <br />project proposal and related documents, First Bank of Some City, USA, <br />commits to provide permanent financing for your project. Although we were <br />asked to finance your total project costs of $ , we are only able to <br />provide $ due to (reasonl . Our commitment is based on the <br />sound financial resources of the company (principals) and the feasibility of the <br />project. <br /> <br />The terms of our commitment are as follows: <br /> <br />Amount: $885,000 or 85% of the project cost, whichever is higher, plus <br />$20,000 for land cost. <br /> <br />Rate: Prime plus 1-112% (based on New York Prime), variable rate <br />over the term of the loan. <br /> <br />Term: 15 years. <br /> <br />Expiration <br />Date: November 30, 1991 <br /> <br />Security: First Lien Deed of Trust on plant and satisfactory covenants. <br /> <br />Our financial commitment for this project is contingent only upon your <br />company being able to obtain the necessary infrastructure provided by your <br />city or county jurisdiction through the Economic Development Infrastructure <br />Grant Program from the Ark-Tex Council of Governments for a total of <br />$115,000. <br /> <br />We look forward to assisting you in finalizing this financial arrangement in the <br />near future. <br /> <br />Sincerely, <br /> <br />Juanita Valenquela <br />President <br /> <br />25 <br />