CyberAmerica Subsidiary Receives Final Payment on $700,000 Sale of Virginia Property.Business Editors SALT LAKE CITY--(BUSINESS WIRE)--March 30, 2000 Diversified Holdings XIX Inc., a Nevada corporation and consolidated subsidiary of CyberAmerica Corp. ("CyberAmerica") (Nasdaq:CYAA), received a final payment of $647,217.88, in cash, on the sale of real property located in the state of Virginia with Eastern Shore Composites, LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control ("ESC See escape character and escape key. See also ESC/P. ESC - escape "). The sale of real property located near the town of Cheriton, in Northampton County, Va., took place in May of 1999. The property consists of several buildings and approximately 65 acres. The site was once occupied by a vegetable process plant. The payment results in the full payment of the promissory note promissory note, unconditional written promise to pay a certain sum of money at a definite time to bearer or to a specified person on his order. Promissory notes are generally used as evidence of debt. and release of a deed of trust A document that embodies the agreement between a lender and a borrower to transfer an interest in the borrower's land to a neutral third party, a trustee, to secure the payment of a debt by the borrower. , both in the amount of $655,000 that had been executed in Diversified's favor, bearing interest at the rate of 9 percent per annum Per annum Yearly. . Payment of the balance of the note was to have been paid in full on May 18, 2002. The payment as received terminates all remaining interest of Diversified in the property. |
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