SECURITY AGREEMENTSecurity Agreement • December 6th, 2011 • Adcare Health Systems Inc • Services-skilled nursing care facilities • Georgia
This Security Agreement (hereinafter called “Agreement”) is between MT. V PROPERTY HOLDINGS, LLC AND MOUNTAIN VIEW NURSING, LLC (collectively, hereinafter the “Debtor”) and METRO CITY BANK (hereinafter called “Secured Party”).
PREPARED BY AND WHEN RECORDED RETURN TO: Reid H. Harbin, Esq. Harbin & Miller, LLCMortgage and Security Agreement • December 6th, 2011 • Adcare Health Systems Inc • Services-skilled nursing care facilities • Georgia
LOAN AGREEMENTLoan Agreement • December 6th, 2011 • Adcare Health Systems Inc • Services-skilled nursing care facilities • Georgia
THIS LOAN AGREEMENT, made and entered into this 30th day of November, 2011, by and between MT. V PROPERTY HOLDINGS, LLC AND MOUNTAIN VIEW NURSING, LLC (collectively, the “Borrower”) and METRO CITY BANK (“Lender”).
TERM NOTETerm Note • December 6th, 2011 • Adcare Health Systems Inc • Services-skilled nursing care facilities
FOR VALUE RECEIVED, Mountain Top ALF, LLC, a Georgia limited liability company and Mountain Top Property Holdings, LLC (collectively the “Maker”) unconditionally and irrevocably promises to pay to the order of White River Health System, Inc. (the “Lender”), or to the order of any subsequent holder hereof, in lawful money of the United States of America, the principal sum of Seven Hundred Fifty Thousand and No/100 Dollars ($750,000), together with interest from the date funds are advanced at the rate hereinafter specified.
GUARANTYGuaranty • December 6th, 2011 • Adcare Health Systems Inc • Services-skilled nursing care facilities • Ohio
MORTGAGE (WITH SECURITY AGREEMENT AND ABSOLUTE ASSIGNMENT OF RENTS AND LEASES) AND FIXTURE FILINGMortgage • December 6th, 2011 • Adcare Health Systems Inc • Services-skilled nursing care facilities
AMENDMENTPurchase and Sale Agreement • December 6th, 2011 • Adcare Health Systems Inc • Services-skilled nursing care facilities
This Amendment (this “Amendment”) is made and entered into as of the 30th day of November, 2011 (the “Effective Date”) by and between White River Health System, Inc., an Arkansas non-profit corporation (“Seller”) and AdCare Property Holdings, LLC, an Ohio limited liability company (“Purchaser”).
