KORTH DIRECT MORTGAGE LLC MORTGAGE SECURED NOTES UNDERWRITING AGREEMENT BASIC PROVISIONSUnderwriting Agreement • January 27th, 2017 • Korth Direct Mortgage LLC • New York
Korth Direct Mortgage LLC, a Florida Limited Liability Corporation (the “Company”or “KDM”), may issue and sell from time to time series of its Mortgage Secured Notes registered under the registration statement referred to in Section 1(a) hereof. Such debt securities may have varying, designations, currencies, interest rates and payment dates, maturities, redemption provisions and selling prices. The basic provisions set forth herein are intended to be incorporated by reference in a terms agreement of the type referred to in Section 2 hereof relating to the specific series of debt securities to be issued and sold by the Company pursuant thereto (the “Securities”) to the several underwriters named therein (the “Underwriters”). Unless otherwise specified in the applicable terms agreement, the Securities will be issued under an indenture dated as of , between the Company and Delaware Trust Company, as trustee (such trustee or such other replacement or successor trustee as may be named for
OPERATING AGREEMENT of Korth Direct Mortgage LLCOperating Agreement • January 27th, 2017 • Korth Direct Mortgage LLC • Florida
The Operating Agreement (the "Agreement") made and entered into the 2nd day of September, 2016 (the "Execution Date"), is hereby amended this 10th day of January 2017.
Form of Support AgreementKorth Direct Mortgage LLC • January 27th, 2017
In consideration for 100% of the Membership Interests in Korth Direct Mortgage LLC, J. W. Korth & Company, hereby agrees to provide such moneys and staff support as it determines in its sole discretion necessary and reasonable to organize KDM, and allow KDM to pursue its Purpose as stated in its First Amended Operating Agreement. J W Korth & Company further agrees to seek reimbursement for the support provided only after such time as KDM shall maintain a liquid net worth of $1,000,000 for a period of 90 days.
