FIRST AMENDMENT TO MASTER LOAN AGREEMENT DATED MAY 24, 2018

Exhibit 10-1

FIRST AMENDMENT TO

MASTER LOAN AGREEMENT DATED MAY 24, 2018

THIS FIRST AMENDMENT TO MASTER LOAN AGREEMENT dated May 24, 2018 is made as of March 7, 2019, by and between The Goldfield Corporation, a Delaware corporation, Power Corporation of America, a Florida corporation, Southeast Power Corporation, a Florida corporation, C and C Power Line, Inc. a Florida corporation, Bayswater Development Corporation, a Florida corporation, Precision Foundations, Inc. a Florida corporation and Pineapple House of Brevard, Inc., a Florida corporation (either “Borrower” or collectively “Guarantors” as set forth in Exhibit “A”), and Branch Banking and Trust Company (“Lender”).

RECITALS

1. Borrower previously received certain loans from Lender as set forth in Exhibit “A” (“Prior Loans”) and is receiving two new loans from Lender of even date (“New Loans”) as set forth in Exhibit “A” (the “Prior Loans” and “New Loans” shall be collectively hereinafter referred to as the “Loans”); and,

2. The Loans are subject to and governed by the terms of the Agreement.

Now, therefore, in consideration of the premises, and in further consideration of the mutual covenants and agreements herein set forth and of the sum of Ten Dollars ($10.00) paid by each party to the other, receipt of which is hereby acknowledged, the parties covenant and agree as follows:

1. The foregoing recitals are true and correct and incorporated herein by reference.

2. The Loans are subject to and governed by the terms of the Agreement.

3. This Amendment shall bind and inure to the benefit of the parties hereto and each of

them and their respective successors and assigns.

4. Except as amended herein, the Agreement remains in full force and effect.

{SIGNATURES ON FOLLOWING PAGES}

Witnesses:
		The Goldfield Corporation, a Delaware corporation
/s/ Xxxxxxx X. Xxxxxx		By: /s/ Xxxxxxx X. Xxxxxx
Print Name: Xxxxxxx X. Xxxxxx		Xxxxxxx X. Xxxxxx, Senior Vice President
/s/ Xxxxx Xxxxxx
Print Name: Xxxxx Xxxxxx

		Southeast Power Corporation, a Florida corporation
/s/ Xxxxxxx X. Xxxxxx		By: /s/ Xxxxxxx X. Xxxxxx
Print Name: Xxxxxxx X. Xxxxxx		Xxxxxxx X. Xxxxxx, Vice President
/s/ Xxxxx Xxxxxx
Print Name: Xxxxx Xxxxxx
		Pineapple House of Brevard, Inc., a Florida corporation
/s/ Xxxxxxx X. Xxxxxx		By: /s/ Xxxxxxx X. Xxxxxx
Print Name: Xxxxxxx X. Xxxxxx		Xxxxxxx X. Xxxxxx, Vice President
/s/ Xxxxx Xxxxxx
Print Name: Xxxxx Xxxxxx
		Bayswater Development Corporation, a Florida corporation
/s/ Xxxxxxx X. Xxxxxx		By: /s/ Xxxxxxx X. Xxxxxx
Print Name: Xxxxxxx X. Xxxxxx		Xxxxxxx X. Xxxxxx, Vice President
/s/ Xxxxx Xxxxxx
Print Name: Xxxxx Xxxxxx

Witnesses:
		Power Corporation of America, a Florida corporation
/s/ Xxxxxxx X. Xxxxxx		By: /s/ Xxxxxxx X. Xxxxxx
Print Name: Xxxxxxx X. Xxxxxx		Xxxxxxx X. Xxxxxx, Vice President
/s/ Xxxxx Xxxxxx
Print Name: Xxxxx Xxxxxx
		C and C Power Line, Inc., a Florida corporation
/s/ Xxxxxxx X. Xxxxxx
Print Name: Xxxxxxx X. Xxxxxx		By: /s/ Xxxxxxx X. Xxxxxx
		Xxxxxxx X. Xxxxxx, Authorized Signer
/s/ Xxxxx Xxxxxx
Print Name: Xxxxx Xxxxxx

		Precision Foundations, Inc., a Florida corporation
/s/ Xxxxxxx X. Xxxxxx
Print Name: Xxxxxxx X. Xxxxxx		By: /s/ Xxxxxxx X. Xxxxxx
		Xxxxxxx X. Xxxxxx, Vice President
/s/ Xxxxx Xxxxxx
Print Name: Xxxxx Xxxxxx

		Branch Banking and Trust Company
/s/ Xxxxxxx X. Xxxxxx		By: /s/ Xxxxx Xxxxxx
Print Name: Xxxxxxx X. Xxxxxx		Xxxxx Xxxxxx, Senior Vice President
/s/ Xxxxxx X. Xxxx
Print Name: Xxxxxx X. Xxxx

Exhibit “A”

“Currently Outstanding Prior Loans”

The Goldfield Corporation:

Loan Number -- 9660933082

Notes	Original Amount	Date Opened	Guarantors
2	$18,000,000.00	May 24, 2018	Southeast Power Corporation, Pineapple House of Brevard, Inc., Bayswater Development Corporation and Power Corporation of America, C and C Power Line, Inc., and Precision Foundations, Inc. Revolving
5	$27,490,000.00	May 24, 2018	Southeast Power Corporation, Pineapple House of Brevard, Inc., Bayswater Development Corporation, Power Corporation of America, C and C Power Line, Inc., and Precision Foundations, Inc. Non-Revolving

“New Loans”

The Goldfield Corporation:

Loan Number -- 9660933082

“New Loan” 90016	$4,500,000.00	March 7, 2019	Southeast Power Corporation, Pineapple House of Brevard, Inc., Bayswater Development Corporation, Power Corporation of America, C and C Power Line, Inc., and Precision Foundations, Inc. Non-Revolving
“New Loan” 90014	$38,224,000.00	March 7, 2019	Southeast Power Corporation, Pineapple House of Brevard, Inc., Bayswater Development Corporation, Power Corporation of America, C and C Power Line, Inc., and Precision Foundations, Inc. Note: Modification and future advance of Note 5 listed above. Non-Revolving