MORTGAGE AND SECURITY AGREEMENTMortgage and Security Agreement • February 13th, 2015 • Griffin Land & Nurseries Inc • Real estate
THIS MORTGAGE AND SECURITY AGREEMENT (this “Mortgage”) made this 19th day of December, 2014, but effective as of December 31, 2014, by RIVERBEND BETHLEHEM HOLDINGS I LLC, a limited liability company, organized under the law of Pennsylvania and having its principal place of business at c/o Griffin Land & Nurseries, Inc., 204 West Newberry Road, Bloomfield, Connecticut 06002 (“Mortgagor”) to FIRST NIAGARA BANK, N.A., a national banking association with a banking office at 726 Exchange Street, Buffalo, NY 14210, Attention: Commercial Loan Administration and any affiliate of the First Niagara Financial Group, Inc. (“Mortgagee”).
TERM NOTE (LIBOR SWAP TRANSACTION)Term Note • February 13th, 2015 • Griffin Land & Nurseries Inc • Real estate • Connecticut
FOR VALUE RECEIVED, and intending to be legally bound RIVERBEND BETHLEHEM HOLDINGS I LLC (“Holdings I”) and RIVERBEND BETHLEHEM HOLDINGS II LLC (“Holdings II”), each being a limited liability company organized under the laws of the Commonwealth of Pennsylvania, and each with a mailing address at c/o Griffin Land & Nurseries, Inc., 204 West Newberry Road, Bloomfield, Connecticut 06002 (Holdings I and Holdings II being referred to individually and collectively herein as the “Borrower”), promise to pay to FIRST NIAGARA BANK, N.A., a national banking association with a banking office at P.O. Box 28, Buffalo, NY 14240-0028 (together with its successors and assigns, the “Lender”) or order, on or before January 2, 2025 (“Maturity”), the principal sum of Twenty-One Million Six Hundred Thousand and 00/100 Dollars ($21,600,000.00), together with interest thereon (the “Loan”), until paid in full.
