LOAN AND SECURITY AGREEMENT Between SUMMIT FINANCIAL RESOURCES, L.P. Lender and PRO-DEX, INC. Borrower Effective Date: September 9, 2015 LOAN AND SECURITY AGREEMENTLoan and Security Agreement • September 14th, 2015 • Pro Dex Inc • Surgical & medical instruments & apparatus • Utah
For good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties agree as follows:
Intercreditor AgreementIntercreditor Agreement • September 14th, 2015 • Pro Dex Inc • Surgical & medical instruments & apparatus
This Intercreditor Agreement is made and entered into between Summit Financial Resources, L.P., a Hawaii limited partnership (“Summit”), and Fineline Molds, a California corporation (“Lender”), and is acknowledged and consented to by Pro-Dex, Inc., a Colorado corporation (“Borrower”).
ASSIGNMENT OF LEASES AND RENTSAssignment of Leases and Rents • September 14th, 2015 • Pro Dex Inc • Surgical & medical instruments & apparatus • Minnesota
THIS ASSIGNMENT is made as of this 8th day of September, 2015, by Pro-Dex Sunfish Lake, LLC, a Delaware limited liability company (“Assignor”), in favor of Fortitude Income Funds, LLC, a Delaware limited liability company (“Lender”).
COMBINATION MORTGAGE, SECURITY AGREEMENT AND FIXTURE FINANCING STATEMENTCombination Mortgage, Security Agreement and Fixture Financing Statement • September 14th, 2015 • Pro Dex Inc • Surgical & medical instruments & apparatus • Minnesota
All rents, issues, profits, condemnation awards, insurance proceeds, revenues and income arising from the ownership or operation of the Land and the Improvements and all proceeds and products thereof (herein collectively called “Revenues and Income”).
PROMISSORY NOTEPro Dex Inc • September 14th, 2015 • Surgical & medical instruments & apparatus
FOR VALUE RECEIVED, the undersigned Pro-Dex Sunfish Lake, LLC, a Delaware limited liability company (“Borrower”), promises to pay to the order of Fortitude Income Fund, LLC, a Delaware limited liability company (“Lender”), the principal sum of Five Hundred Thousand and 00/100 Dollars ($500,000.00), together with interest on the unpaid principal balance thereof, outstanding from time to time, in the manner set forth below.
