PNC MIDLAND LOAN REAL ESTATE SERVICES March 2, 2021 VIA EMAIL LF Lubbock Expo LLC, et al Attn: Chris Johnston 1635 43rd Street S, Suite 205 Fargo, ND 58103 Email Address: kcox@lodqinqfund.com RE:...
Exhibit 10.97
PNC | MIDLAND |
LOAN | |
REAL ESTATE | SERVICES |
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March 2, 2021 | | |
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VIA EMAIL | | |
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LF Lubbock Expo LLC, et al | | |
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Attn: Xxxxx Xxxxxxxx | | |
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0000 00xx Xxxxxx X, Xxxxx 000 | | |
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Fargo, ND 58103 | Email Address: xxxx@xxxxxxxxxxx.xxx | |
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RE: | Midland Loan: XXXXXXX ("Loan") | |
| Borrower: LF Lubbock Expo LLC and LF3 Lubbock Expo TRS LLC ("Borrower") | |
Dear Borrower:
Midland Loan Services, a Division of PNC Bank, National Association ("Midland") as Master Servicer and/or Special Servicer for XXXXX FARGO BANK, NATIONAL ASSOCIATION, AS TRUSTEE FOR XXXXXX XXXXXXX CAPITAL I TRUST 2019-H6, COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES, SERIES 2019-H6 ("Lender") is in receipt of Borrower's request to temporarily waive all property-related financial and leasing tests (i.e. LTV, DSCR, Debt Yield and occupancy percentage) under the applicable loan documents (the "Loan Documents") for a period from and including, 6/30/2020, through and including 6/30/2021 (the "Transaction"). Midland conditionally grants its consent to the Transaction provided that (i) there exists no uncured Event of Default (as defined in the Loan Documents), (ii) Borrower acknowledges and agrees that except as modified by this letter, all other terms, covenants and conditions of the Loan Documents shall remain unmodified, in full force and effect and ratified by the Borrower, (iii) Borrower acknowledges acceptance of the terms of the Transaction by countersigning and returning this letter (electronic signature and transmission is acceptable); and (iii) Borrower remits to Midland $500, which amount represents Midland's non-refundable processing fee (the "Processing Fee"). Wiring instructions for the Processing Fee are as follows:
PNC Bank, N.A., Two PNC Plaza 000 Xxxxxxx Xxxxxx
Pittsburgh, PA 15222
ABA#: 000000000
Midland Loan Services Credit Account: XXXXXXXX
Ref Loan #: XXXXXXXXX
Nothing contained in this letter shall constitute a waiver of any Event of Default under the Loan Documents or of Xxxxxx's rights or remedies under any other indebtedness now or hereafter existing between Lender and Borrower.
THIS XXXXXX IS BEING EXECUTED BY XXXXXX TO ACCOMMODATE THE REQUEST OF XXXXXXXX, AND XXXXXXXX UNDERSTANDS AND AGREES THAT XXXXXX HAS NO OBLIGATION TO GRANT ADDITIONAL MODIFICATIONS IN THE FUTURE.
Member of The PNC Financial Services Group
00000Xxxxxx Xxxxxxxxx • Overland Park, Kansas • 66210 800- 327-8083
www .xxx.xxx/ midland
PNC | MIDLAND |
LOAN | |
REAL ESTATE | SERVICES |
If you have any questions, please feel free to contact Xxxxx Xxxxxxxx at (000) 000-0000_or via email at xxxxx.xxxxxxxx@xxxxxxxxx.xxx
Sincerely,
MIDLAND LOAN SERVICES, a Division of PNC Bank, National Association, as Servicer on behalf of Lender
/s/ Xxxxxx Xxxxxxxx
Xxxxxx Xxxxxxxx
Senior Vice President & Servicing Officer
ACCEPTED AND AGREED TO BY:
BORROWER:
LF3 LUBBOCK EXPO, LLC,
a Delaware limited liability company
By: Lodging Fund REIT III OP, LP
its: sole member
By: Lodging Fund REIT
its general partner
| By: | /s/ Xxxxx Xxxxx | |
| Name: | Xxxxx Xxxxx | |
| Title: | CEO | |
| Date: | 3/9/21 | |
BORROWER:
LF3 LUBBOCK EXPO TRS, LLC,
a Delaware limited liability company
By: Lodging Fund REIT III TRS, Inc.
its: sole member
| By: | /s/ Xxxxx Xxxxx | |
| Name: | Xxxxx Xxxxx | |
| Title: | CEO | |
| Date: | 3/9/21 | |
Member of The PNC Financial Services Group
00000Xxxxxx Xxxxxxxxx • Overland Park, Kansas • 66210 800- 327-8083
www .xxx.xxx/ midland
