SECOND AMENDED AND RESTATED MASTER LOAN AGREEMENTMaster Loan Agreement • November 9th, 2016 • Pope Resources LTD Partnership • Forestry • Washington
THIS SECOND AMENDED AND RESTATED MASTER LOAN AGREEMENT (this “Loan Agreement”) is made and entered into effective July 20, 2016, by and between Lender, as defined below, and Borrower, as defined below. This Loan Agreement amends and restates, in its entirety, the existing First Amended and Restated Master Loan Agreement, dated June 10, 2010, effective on the date hereof.
AMENDED AND RESTATED NOTE AND LOAN AGREEMENT (Long Term with Multiple Pricing Options)Note and Loan Agreement • November 9th, 2016 • Pope Resources LTD Partnership • Forestry
THIS AMENDED AND RESTATED NOTE AND LOAN AGREEMENT (this “Note”) is made and entered into effective September 30, 2016, by and between Lender, as defined below, and Borrower, as defined below. This Note amends and restates, in its entirety, the Note and Loan Agreement, dated December 20, 2012, by and between Lender, as defined below, and Borrower, as defined below (the “Prior Note”) pursuant to which Lender made available and continues to make available the Total Commitment Amount, as defined below.
NOTE (Port Gamble Loan)Note • November 9th, 2016 • Pope Resources LTD Partnership • Forestry
For Value Received, on July 1, 2027 (the “Loan Maturity Date”), Borrower, as defined below, promises to pay NORTHWEST FARM CREDIT SERVICES, FLCA (“Lender”) or order, at its office in Spokane, Washington, or such other place as the holder of this Note (this “Note”) may designate in writing, the principal balance of Twenty-one Million and no/100’s Dollars ($21,000,000.00) (the “Total Commitment Amount”), or so much thereof as may be outstanding, plus interest thereon from and after any Disbursement Date, at interest rates as provided for hereafter. For all intents and purposes, all Loan Segments are treated as one obligation under this Note and the other Loan Documents.
NOTE (Carbon River Loan)Note • November 9th, 2016 • Pope Resources LTD Partnership • Forestry
For Value Received, on the earlier of (i) July 1, 2028, (ii) the latest Fixed Rate Maturity Date and (iii) if there is no Fixed Rate Loan Segment, July 1, 2023 (the “Loan Maturity Date”), Borrower, as defined below, promises to pay NORTHWEST FARM CREDIT SERVICES, FLCA (“Lender”) or order, at its office in Spokane, Washington, or such other place as the holder of this Note (this “Note”) may designate in writing, the principal balance of Thirty-two Million and no/100’s Dollars ($32,000,000.00) (the “Total Commitment Amount”), or so much thereof as may be outstanding, plus interest thereon from and after any Disbursement Date, at interest rates as provided for hereafter. For all intents and purposes, all Loan Segments are treated as one obligation under this Note and the other Loan Documents.
