Exhibit 99.(a)(1)
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First Federal fsb Mississippi View Holding Company
201 Main Street South 35 East Broadway Loan Number
Hutchinson MN 55350 Little Falls MN 56345-3093 Date April 30, 1998
Maturity Date May 10, 1999
LENDER's NAME AND ADDRESS BORROWER's NAME AND ADDRESS Loan Amount $225,000.00
"You" means the Lender, "I" includes each Borrower above, Renewal Of
its successors and assigns together and separately.
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TERMS FOLLOWING A [_} APPLY ONLY IF CHECKED
NOTE-For value received, I promise to pay to you, or your order, at your address above, the principal sum of:Two Hundred Twenty-Five
Thousand and No/100----------------------------------------------------------------------------------------------Dollars $225,000.00
plus interest from May 10, 1998 at the rate of 9.0% per year until paid in full
[_} LOAN ADMINISTRATIVE FEE - I also agree to pay a loan administrative fee of $_____, and it will be
[_] paid in cash.
[_] paid pro rata over the loan term.
[_] withheld from the proceeds. (If this fee is withheld from the proceeds, the amount is included in the principal sum.)
Upon prepayment in full (or acceleration). I will not be entitled to a rebate of part of the loan administrative fee.
PAYMENT - I will pay this note as follows:
(a) [X] Interest due: 3 payments of interest quarterly commencing August 10, 1998
Principal due: 1 payment of $225,000.00 plus remaining interest due on May 10, 1999
(b) [_] This note has ________ payments. The first payment is $_________ and is due: ________.
A payment of $________ is due on the ________ day of each ________.
The final payment of the entire unpaid balance of principal and interest will be due _________.
INTEREST - Interest accrues on a 365-day basis. [_] RETURN CHECK CHARGE - I agree to pay a service charge for each
[_} LATE CHARGE - If a payment is not paid in full on or returned check or returned automatic payment request. The amount
before the tenth day after its due date, I will be charged of the service charge will generally be $20.00, but if you use a
a late fee of .5% of the amount of the payment or $_______ law enforcement agency to collect payment and the service charge is
whichever is greater. [_} This amount may then increase so used to reimburse the law enforcement agency, the amount of the
as to always be the highest amount allowed by law under service charge will be $25.00.
Minnesota Statutes ss.47.50. THE PURPOSE OF THIS LOAN IS ______________________________________.
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SECURITY - You have certain rights that may affect my property as explained on page 2. This loan [_} is [_] is not further secured.
(a) [_] This loan is secured by __________________________________________________, dated ____________________________________.
(b) [X] Security Agreement - I give you a security interest in the Property described below: The rights I am giving you in
this Property and the obligations this agreement secures are defined on page 2 of this agreement.
25,000 shares of Mississippi View Holding Company Stock to be safekept at First Federal fsb
* ADDITIONAL TERMS: Borrower must maintain loan to value at or below .50% at all times.
This Property will be used for _______________________ purposes.
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ANNUAL PERCENTAGE RATE FINANCE CHARGE AMOUNT FINANCED TOTAL OF PAYMENTS I have the right to
The cost of my credit The dollar amount the The amount of credit The amount I will have paid when receive at this time an
as a yearly rate credit will cost me. provided to me or on I have made all scheduled payments. itemizataion of the
my behalf. Amount Financed.
9.000 $ 20,250.00 $ 225,000.00 $ 245,250.00 X YES - I want an
--- itemization.
___ NO - I do not want an
itemization.
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My Payment Schedule will be:____________________________________________________
Number of Payments Amount of Payments When Payments are Due
3 $ VARYING INTEREST PAID QUARTERLY "e" means an estimate.
$ COMMENCING AUGUST 10, 1998 $___ Filing Fees.
1 $ 230,062.50 MAY 10, 1999 $___ Nonfiling insurance.
$
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[X] This note has a demand feature: [_] This note is payable on demand and all disclosures are based on an assumed maturity of one
year.
Security - I am giving a security interest in: [X] (brief description of other property)
[_] the goods or property being purchased. Assignment of Mississippi View Holding Company Stock
[_] collateral securing other loans with you may also secure this loan.
[_] my deposit accounts and other rights to the payment of money from you.
[_] Late Charge - If a payment is not paid in full on or before the tenth day after its due date, I will be charged a late fee of
.5% of the amount of the payment or $ ________ whichever is greater. [_] The amount may then increase so as to always be the
highest amount allowed by law under Minnesota Statutes ss.47.59.
[_] Required Deposit - The annual percentage rate does not take into account my required deposit.
Prepayment - If I pay off this note early, I will not have to pay a penalty.
[_] If I pay off this note early, I will not be entitled to a refund of part of the loan administrative fee.
Assumption-Someone buying the property securing this obligation, cannot assume the remainder of the obligation on the original terms
I can see my contract documents for any additional information about nonpayment, default, any required repayment before the
scheduled date, and prepayment refunds and penalized.
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CREDIT INSURANCE - Credit life insurance and credit
disability insurance are not required to obtain credit, ITEMIZATION OF AMOUNT FINANCED
and will not be provided unless I sign and agree to pay
the additional costs. I may but any insurance from AMOUNT GIVEN TO ME DIRECTLY $ 225,000.00
anyone I choose or I may use existing insurance. AMOUNT PAID ON MY (LOAN) ACCOUNT $________________________
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Type ________________ Premium ______________ Term ____ AMOUNTS PAID TO OTHERS ON MY BEHALF $________________________
Credit Line____________________________________________ to Insurance Companies $________________________
Credit Disability _____________________________________ to Public Officials $________________________
Join Credit Life ______________________________________ _______________________________________________ $________________________
_______________________________________________________ _______________________________________________ $________________________
I [_] do [X] do not want credit life insurance. _______________________________________________ $________________________
I [_] do [X] do not want credit disability insurance. (less) PREPAID FINANCE CHARGES(S) $________________________
I [_] do [X] do not want joint credit life insurance.
I [_] do [X] do not want _______________Insurance: Amount Financed $ 225,000.00
x _____________________________________DOB____________
x_______________________________________DOB____________ (Add all items financed and subtract prepaid finance charges.)
PROPERTY INSURANCE - I may obtain property insurance __________________________________________________________________________
from anyone I want that is acceptable to you. If I get
the insurance from or through you, I will pay $________ SIGNATURES - I AGREE TO THE TERMS SET OUT ON PAGE 1 AND PAGE 2 OF THIS
for __________ of coverage. AGREEMENT, I HAVE RECEIVED A COPY OF THIS DOCUMENT ON TODAY'S DATE.
SINGLE INTEREST INSURANCE - I may obtain single interest CONSIGNERS - SEE NOTICE ON PAGE 2 BEFORE SIGNING.
insurance from anyone I want that is acceptable to you.
If I get the insurance from or through you I will pay MISSISSIPPI VIEW HOLDING COMPANY
$_________________ for ____________ of coverage.
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Optional Signature ________________________________________________________________
Signed_______________________________________ For Lender
Title __________________________________________________ Signature ________________________________________________________________
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SIMPLE INTEREST NOTE, DISCLOSURE, AND SECURITY AGREEMENT CONSUMER LOAN UNDER MN. STAT. ss47.50 - NOT FOR OPEN-END CREDIT
@ 1981, 1988 Bancshare Systems, Inc., St. Cloud, MN (1-800-397-2341) Form NDaS SI-MN 12/20/95 [LOGO] (page 1 of 2)
ASSIGNMENT
In this agreement, I, me and my refer to the persons(s) signing below. You
and your refer to:
First Federal fsb
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My Agreement
You gave me Two Hundred Twenty Five Thousand and No/100-----------------Dollars
($225,000.00) today and I acknowledge receipt of that amount of money. In
consideration of this sum of money, I agree to, and do in fact, sell, transfer
(and assign) to you any and all right, title, claim and interest that I may have
in and to the following property:
25,000 shares of Mississippi View Holding Company Stock
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My Signature Date Signed
Mississippi View Holding Company
X /s/Larry D. Hartwig 5-1 1998
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X /s/Mary Ann Karnowski 5-1 1998
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WITNESSES:
X /s/
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X /s/
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(Continued on back)
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STATE OF _____________________________________________________
ss.
COUNTY OF ____________________________________________________
On this _________________day of _____________________, 19____________,
before me, ____________________________ a Notary Public in and for the County of
________________________, State of ___________ personally appeared _____________
________________________________________________________________________________
to me known to be the person____ named in and who executed the foregoing
instrument, and acknowledged that _____________ executed the same as ___________
______________ voluntary act and deed.
In Witness Whereof, I have hereunto signed my name and affixed my Notarial
Seal the day and year last above written.
_________________________________________________________________
Notary Public in and for _____________________ County, __________
STATE OF _____________________________________________________
ss.
COUNTY OF ____________________________________________________
On this __________day of _________________, 19____________, before me,
____________________________ a Notary Public in and for the County of _________,
State of ___________ personally appeared _______________________, President, and
_______________________________, Secretary or Cashier, of ______________________
____________, the Corporation which executed the above and foregoing instrument,
who being by me duly sworn, each for himself, did say that they are respectively
the _____________________ President and ____________________of said Corporation;
that (the seal affixed to said instrument is the seal of said Corporation)---(no
seal has been procured by the said Corporation) and that said instrument was by
them signed and sealed on behalf of the said Corporation by authority of its
board of directors, and each of them acknowledged the execution of said
instrument to be the voluntary act and deed of said Corporation, by it and each
of them voluntarily executed.
In Witness Whereof, I have hereunto signed my name and affixed my
Notarial Seal the day and year last above written.
_________________________________________________________________
Notary Public in and for _____________________ County, __________
My commission expires ___________________________________________
______________________________________________
ASSIGNMENT
(General Form)
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______________________________________________
______________________________________________
______________________________________________
______________________________________________
______________________________________________
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Office of ____________________________________
County of ____________________________________
State of _____________________________________
I hereby certify that the within Instrument
was filed in this office for record on the
__________ day of ____________ A.D. 19 _______
at ______________o'clock _____ M. and was duly
recorded in Book _____________________________
of _____________________________ on page _____
______________________________________________
______________________
By ____________________________________ Deputy,
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FR G-3
OMB No. 7100-0018
Approval expires July 31, 1996
BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM
Statement of Purpose for an Extension of Credit Secured by Margin
Stock by a Person Subject to Registration Under Regulation G
(Federal Reserve Form G-3)
First Federal fsb, 201 Main Street South, Hutchinson, MN
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Name of Lender
This form is required by law (15 U.S.C. 76g and 78w; 12 C.F.R. 207). and reviewing the collection of information. Send comments
regarding this burden estimate or any other aspect of this
collection of Information, including suggestions for
reducing this burden, to Secretary, Board of Governors of
Public reporting burden for this collection of information is the Federal Reserve System, 20th and C Streets, N.W.,
estimated to average 10 minutes per response, including the time Washington, D.C. 20551; and to the Office of Management
for reviewing instructions, searching existing data sources, and Budget, Paperwork Reduction Project (7100-0011),
gathering and maintaining the data needed, and completing Washington, D.C. 20503.
Instructions
1. This form must be completed when a lender subject to registration under
Regulation G extends credit secured directly or indirectly, in whole or in part,
by any margin stock.
2. The term "margin stock" is defined in Regulation G (12 CFR 207) and includes,
principally: (1) stocks that are registered on a rational securities exchange,
stocks that are on the Federal Reserve Board's List of Maginable OTC Stocks, or
any OTC security designated for trading in the National Market System; (2) debt
securities (bonds) that are convertible into margin stock; and (3) shares of
most mutual funds.
3. Please print or type (if space is inadequate, attach separate sheet).
Part I To be completed by borrower(s)
1. What is the amount of the credit being extended?
Two Hundred Twenty-five Thousand and No/100 Dollars
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($225,000.00)
2. Will any part of this credit be used to purchase or carry margin securities?
[X} Yes [_} No
If the answer is "no," describe the specific purpose of the credit
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I(We) have read this form and certify that to the best of my (our) knowledge
and belief the Information given is true, accurate, and complete.
MISSISSIPPI VIEW HOLDING COMPANY
Signed: Signed:
/s/Larry D. Hartwig 5-1-98 /s/Mary ANn Karnowski 5-1-98
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Borrower's signature Date Borrower's signature Date
Larry D. Hartwig Mary Ann Karnowski
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Print or type name Print or type name
This form should not be signed if blank.
A borrower who falsely certifies the purpose of a credit on this form or
otherwise willfully or intentionally evades the provisions of Regulation G will
also violate Federal Reserve Regulation X, "Borrowers of Securities Credit."
Bankers Systems, Inc., St. Cloud, MN Form G-3 8/31/95
FR G-3
Page 2 of 2
Part II To be completed by lender only if the purpose of the credit is to
purchase or carry margin securities (Part 1 (2) answered "yes")
1. List the margin stock securing this credit; do not include debt securities
convertible into margin stock. The maximum loan value of margin stock is 50
per cent of its current market value under the current Supplement to
Regulation G.
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No. of Issue Market price Date and source Total market
Shares per share of valuation value per issue
(See note below)
25,000 Mississippi View Holding Company 18 5/8 $450,000.00
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2. List the debt securities convertible into margin stock securing this
credit. The maximum loan value of such debt securities is 50 per cent of
the current market value under the current Supplement to Regulation G.
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Principal Issue Market price Date and source Total market
amount of valuation value per issue
(See note below)
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3. List other collateral including non-margin securities securing this credit.
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Describe briefly Market price Date and source Good faith
of valuation loan value
(See note below)
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Note Lender need not complete "Data and source of valuation" if the market value
was obtained from regularly published information in a journal of general
circulation or automated quotation system.
Part III To be signed by an authorized representative of the lender in all
instances.
I am a duly authorized representative of the lender and understand that this
credit secured by margin stock may be subject to the credit restrictions of
Regulation G. I have read this form and any attachments, and I have accepted the
customer's statement in Part I in good faith as required by Regulation G"; and I
certify that to the best of my knowledge and belief, all the information given
is true, accurate, and complete.
Signed:
First Federal fsb
April 30, 1998 /s/Betty Henke
______________________________________ ______________________________________
Date Authorized representative's signature
Executive Secretary Betty Henke
______________________________________ ______________________________________
Title Print or type name
______________
*To accept the customer's statement in good faith, the authorized representative
of the lender must be alert to the circumstances surrounding the credit and, if
in possession of any information that would cause a prudent person not to accept
the statement without inquiry, must have investigated and be satisfied that the
statement is truthful. Among the facts which would require such investigation
are receipt of the statement through the mail or from a third party.
This form must be retained by the lender
for three years after the credit is extinguished.