PAYMENT GUARANTY (Development Loan)Payment Guaranty • April 11th, 2005 • Wellsford Real Properties Inc • Real estate investment trusts • Colorado
THIS PAYMENT GUARANTY (“Guaranty”) made as of April 6, 2005, by WELLSFORD REAL PROPERTIES, INC., a Maryland corporation (“Guarantor”), to and for the benefit of KEYBANK NATIONAL ASSOCIATION, a national banking association, its successors and assigns (“Lender”).
DEVELOPMENT LOAN AGREEMENT for a loan in the amount of MADE BY AND BETWEEN GOLD PEAK AT PALOMINO PARK LLC, a Colorado limited liability company c/o Wellsford Real Properties, Inc. 6700 Palomino Parkway Highlands Ranch, Colorado 80130 AND KEYBANK...Development Loan Agreement • April 11th, 2005 • Wellsford Real Properties Inc • Real estate investment trusts • Colorado
Calculation: Guarantor Net Worth = Total Assets – Total Liabilities – Intangible Assets Guarantor Net Worth ___________for period ending ____________ See attached financial statement and evidence of repurchase of common stock held as treasury stock. Compliance? (Yes or No) _____________________
CONSTRUCTION LOAN AGREEMENT for a revolving loan in the amount of $20,000,000.00 MADE BY AND BETWEEN GOLD PEAK AT PALOMINO PARK LLC, a Colorado limited liability company c/o Wellsford Real Properties, Inc. 6700 Palomino Parkway Highlands Ranch,...Construction Loan Agreement • April 11th, 2005 • Wellsford Real Properties Inc • Real estate investment trusts • Colorado
See attached financial statement and evidence of repurchase of common stock held as treasury stock. Compliance? (Yes or No) _____________________
