RECEIVABLES LOAN AGREEMENT By and Between LIBERTY BANK and BLUEGREEN CORPORATION Dated: August 27, 2008Receivables Loan Agreement • November 10th, 2008 • Bluegreen Corp • Real estate agents & managers (for others) • Connecticut
THIS RECEIVABLES LOAN AGREEMENT (the “Agreement”) is made effective as of August 27, 2008 by and between LIBERTY BANK, a Connecticut non-stock mutual savings bank (“Lender”) and BLUEGREEN CORPORATION, a Massachusetts corporation (“Borrower”).
RECEIVABLES LOAN NOTEReceivables Loan Note • November 10th, 2008 • Bluegreen Corp • Real estate agents & managers (for others) • Connecticut
FOR VALUE RECEIVED, the undersigned, BLUEGREEN CORPORATION, a Massachusetts corporation (the “Borrower”), promises to pay to the order of LIBERTY BANK, a Connecticut nonstock mutual savings bank (“Lender”) the principal sum of SEVENTY-FIVE MILLION DOLLARS ($75,000,000) or such greater or lesser amount as may be advanced by Lender as the Receivables Loan under the Receivables Loan Agreement, together with interest on the unpaid principal balance hereof, before and after maturity, by acceleration or otherwise, at the rate hereinafter provided, and with the principal and interest payments required below, together with all costs of collecting this Note, including reasonable attorney’s fees.
