LIMITED LIABILITY COMPANY AGREEMENT OF GIPIL 525 S PERRYVILLE RD, LLC Dated as of August 2, 2021Limited Liability Company Agreement • August 18th, 2021 • Generation Income Properties, Inc. • Real estate investment trusts • Florida
This LIMITED LIABILITY COMPANY AGREEMENT (the “Agreement”) of GIPIL 525 S PERRYVILLE RD, LLC (the “Company”), a Delaware limited liability company, is entered into this 2nd day of August 2021 by Generation Income Properties, L.P., a Delaware limited partnership, as managing member (“GIPLP”, “Common Member”, or “Manager”), and Richard N. Hornstrom, an individual (“Hornstrom”) (the “Preferred Member”). GIPLP and the Preferred Member are each a Member.
TENANTS IN COMMON AGREEMENTTenants in Common Agreement • August 18th, 2021 • Generation Income Properties, Inc. • Real estate investment trusts • Florida
This TENANTS IN COMMON AGREEMENT (the “Agreement”), dated effective as of August 2, 2021 (the “Effective Date”), is entered into between GIPIL 525 S PERRYVILLE RD, LLC, a Delaware limited liability company (“GIPIL”), and SUNNY RIDGE MHP, LLC, a Florida limited liability company (“Sunny Ridge”) (each sometimes hereinafter also referred to as a “Tenant in Common”, and collectively referred to herein as the “Tenants in Common”).
LOAN AGREEMENTLoan Agreement • August 18th, 2021 • Generation Income Properties, Inc. • Real estate investment trusts • Florida
THIS LOAN AGREEMENT (the “Agreement”) is entered into as of the13th day of August 2021, by and between AMERICAN MOMENTUM BANK, its successors and assigns, (the “Lender”) and GIPIL 525 S PERRYVILLE RD, LLC, a Delaware limited liability company, and, SUNNY RIDGE MIIP LLC, a Florida limited liability company (collectively, the “Borrower”), and, GENERATION INCOME PROPERTIES, L.P.., a Delaware limited partnership, (“Guarantor”) and is made in reference to the following facts:
LIMITED RECOURSE GUARANTY (David E. Sobelman)Limited Recourse Guaranty • August 18th, 2021 • Generation Income Properties, Inc. • Real estate investment trusts • Florida
This LIMITED RECOURSE GUARANTY (this “Guaranty”) is executed as of August 13, 2021, by DAVID E. SOBELMAN, an individual (“Guarantor”) in favor of and for the benefit of AMERICAN MOMENTUM BANK (together with its successors and/or assigns, “Lender”).
