LOAN AGREEMENTLoan Agreement • November 8th, 2021 • Manufactured Housing Properties Inc. • Real estate • North Carolina
This Loan Agreement (“Agreement”) is made and entered into as of October 25, 2021, (“Closing Date”) by and between LIBERTY BANKERS LIFE INSURANCE COMPANY, an Oklahoma insurance company (“Lender”), and NORTH RALEIGH MHP LLC, a North Carolina limited liability company (“Borrower”).
ASSIGNMENT OF PURCHASE AND SALE AGREEMENTAssignment of Purchase and Sale Agreement • November 8th, 2021 • Manufactured Housing Properties Inc. • Real estate
THIS ASSIGNMENT OF PURCHASE AND SALE AGREEMENT (this “Assignment”) dated October 22, 2021, is made by and among MHP PURSUITS LLC, a North Carolina limited liability company (the “Assignor”), NORTH RALEIGH MHP LLC, a North Carolina limited liability company (the “Assignee”), and provides as follows:
Drawn By: Jay A. LaJone, Esq. Steptoe & Johnson, PLLCManufactured Housing Properties Inc. • November 8th, 2021 • Real estate
LOAN AGREEMENTLoan Agreement • November 8th, 2021 • Manufactured Housing Properties Inc. • Real estate • North Carolina
This Loan Agreement (this “Agreement”) is made as of the 22nd day of October, 2021 by and between Borrower and Lender, named below, and constitutes the agreement between Borrower and Lender with respect to the Loan and other matters described below:
LIMITED GUARANTY AGREEMENTGuaranty Agreement • November 8th, 2021 • Manufactured Housing Properties Inc. • Real estate • North Carolina
THIS LIMITED GUARANTY AGREEMENT (this “Guaranty”) is executed effective as of October 25 , 2021, by MANUFACTURED HOUSING PROPERTIES INC., a Nevada corporation (“Guarantor”), whose address for notice purposes is 136 Main Street, Pineville, North Carolina 28134, for the benefit of LIBERTY BANKERS LIFE INSURANCE COMPANY, an Oklahoma insurance company (“Lender”). Unless otherwise defined herein, all capitalized terms have the meanings given to such terms in the Loan Agreement.
PROMISSORY NOTEManufactured Housing Properties Inc. • November 8th, 2021 • Real estate • North Carolina
FOR VALUE RECEIVED, NORTH RALEIGH MHP LLC, a North Carolina limited liability company (“Borrower”), having an address at 136 Main Street, Pineville, North Carolina 28134, hereby promises to pay to the order of LIBERTY BANKERS LIFE INSURANCE COMPANY, an Oklahoma insurance company (together with its successors and assigns and any subsequent holders of this Promissory Note, the “Lender”), as hereinafter provided, the principal sum of FIVE MILLION THREE HUNDRED TWENTY-THREE THOUSAND AND NO/100 DOLLARS ($5,323,000.00) or so much thereof as may be advanced by Lender from time to time hereunder to or for the benefit or account of Borrower, together with interest thereon at the Note Rate (as hereinafter defined), and otherwise in strict accordance with the terms and provisions hereof.
