LOAN AGREEMENTLoan Agreement • October 3rd, 2006 • John D. Oil & Gas Co • Real estate investment trusts • Ohio
This LOAN AGREEMENT (this “Agreement”) entered into at Cleveland, Ohio, as of September 28, 2006, between John D. Oil & Gas Company, a Maryland corporation, with its chief executive office located at 8500 Station Street, Suite 345, Mentor, Ohio 44060 and Richard M. Osborne, an individual, with an address of 8500 Station Street, Suite 113, Mentor, Ohio 44060 (the “Borrower”) and Charter One Bank, N.A., a national banking association, with an address of 1215 Superior Avenue, Cleveland, Ohio 44114 (the “Bank”).
REVOLVING TERM NOTERevolving Term Note • October 3rd, 2006 • John D. Oil & Gas Co • Real estate investment trusts
For value received, the undersigned John D. Oil & Gas Company, a Maryland corporation, with an address of 8500 Station Street, Suite 345, Mentor, Ohio 44060 and Richard M. Osborne, an individual, with an address of 8500 Station Street, Suite 113, Mentor, Ohio 44060 (collectively, the “Borrower”), jointly and severally, promise to pay to the order of Charter One Bank, N.A., a national banking association with an address of 1215 Superior Avenue, Cleveland, Ohio 44114 (together with its successors and assigns, the “Bank”), the principal amount of Five Million Dollars and Zero Cents ($5,000,000.00), or, if less, such amount as may be the aggregate unpaid principal amount of all loans or advances made by the Bank to the Borrower pursuant hereto, on or before September 28, 2007 (the “Maturity Date”), together with interest from the date hereof on the unpaid principal balance from time to time outstanding until paid in full. The aggregate principal balance outstanding shall bear interest ther
