CREDIT AGREEMENTCredit Agreement • May 11th, 2005 • Amrep Corp • Operative builders • New Mexico
THIS CREDIT AGREEMENT (this "Agreement") is entered into as of April 1, 2005, by and between AMREP SOUTHWEST, INC, a New Mexico corporation ("Borrower"), and WELLS FARGO BANK, NATIONAL ASSOCIATION ("Bank").
REVOLVING LINE OF CREDIT NOTERevolving Line of Credit Note • May 11th, 2005 • Amrep Corp • Operative builders • New Mexico
FOR VALUE RECEIVED, the undersigned AMREP SOUTHWEST, INC., a New Mexico corporation ("Borrower"), promises to pay to the order of WELLS FARGO BANK, NATIONAL ASSOCIATION ("Bank") at its office at 200 Lomas Blvd. N.W., Albuquerque, New Mexico, or at such other place as the holder hereof may designate, in lawful money of the United States of America and in immediately available funds, the principal sum of Ten Million and No/100 Dollars ($10,000,000.00), or so much thereof as may be advanced and be outstanding, with interest thereon, to be computed on each advance from the date of its disbursement as set forth herein.
