CHANGE IN TERMS AGREEMENTChange in Terms Agreement • May 14th, 2020 • Lodging Fund REIT III, Inc. • Real estate investment trusts
DESCRIPTION OF EXISTING INDEBTEDNESS. Promissory Note number 4011906 dated June 19, 2019 in the original amount of $9,444,500.00 (Draw Down Line of Credit) with a current principal balance of $9,317,589.48 .
BUSINESS LOAN AGREEMENTBusiness Loan Agreement • May 14th, 2020 • Lodging Fund REIT III, Inc. • Real estate investment trusts • North Dakota
THIS BUSINESS LOAN AGREEMENT dated February 10, 2020. is made and executed between Lodging Fund REIT Ill OP, LP ("Borrower") and Western State Bank ("Lender") on the following terms and conditions. Borrower has received prior commercial loans from Lender or has applied to Lender for a commercial loan or loans or other financial accommodations. including those which may be described on any exhibit or schedule attached to this Agreement . Borrower understands and agrees that: (A) in granting. renewing. or extending any Loan, Lender is relying upon Borrower's representations. warranties. and agreements as set forth in this Agreement; (Bl the granting. renewing. or extending of any Loan by Lender at all times shall be subject to Lender's sole judgment and discretion; and (Cl all such Loans shall be and remain subject to the terms and conditions of this Agreement.
FIRST AMENDMENT TO THE LIMITED PARTNERSHIP AGREEMENT OF LODGING FUND REIT III OP, LPLimited Partnership Agreement • May 14th, 2020 • Lodging Fund REIT III, Inc. • Real estate investment trusts
This First Amendment (this “Amendment”) to the Limited Partnership Agreement dated April 11, 2018 (the “Partnership Agreement”) of Lodging Fund REIT III OP, LP (the “Partnership”) is adopted by Lodging Fund REIT III, Inc. (the “General Partner”), as the General Partner and on behalf of the Limited Partners to be effective as of April 13, 2020 (“Effective Date”). Capitalized terms used in this Amendment and not defined herein shall have the meanings ascribed to such terms in the Partnership Agreement.
CHANGE IN TERMS AGREEMENTChange in Terms Agreement • May 14th, 2020 • Lodging Fund REIT III, Inc. • Real estate investment trusts
DESCRIPTION OF EXISTING INDEBTEDNESS. Promissory Note number 4011782 dated March 5, 2019 in the original amount of $5,858, 134.26 (Draw Down Line of Credit) with a current principal balance of $5,768,546.63.
FORBEARANCE AGREEMENTForbearance Agreement • May 14th, 2020 • Lodging Fund REIT III, Inc. • Real estate investment trusts
THIS FORBEARANCE AGREEMENT (this “Agreement”) entered into as of April 22, 2020 to be effective as of May 1, 2020 (the “Effective Date”), is by and among LF3 PRATTVILLE, LLC, a Delaware limited liability company, and LF3 PRATTVILLE TRS, LLC, a Delaware limited liability company (individually and/or collectively, as the context may require, the “Borrower”), COREY R. MAPLE (the “Guarantor” and, together with Borrower, each, an “Obligor” and collectively, the “Obligors”) and WELLS FARGO BANK, NATIONAL ASSOCIATION, as lender (the “Lender”).
FORBEARANCE AGREEMENTForbearance Agreement • May 14th, 2020 • Lodging Fund REIT III, Inc. • Real estate investment trusts
THIS FORBEARANCE AGREEMENT (this “Agreement”) entered into as of April 22, 2020 to be effective as of May 1, 2020 (the “Effective Date”), is by and among LF3 SOUTHAVEN, LLC, a Delaware limited liability company, and LF3 SOUTHAVEN TRS, LLC, a Delaware limited liability company (individually and/or collectively, as the context may require, the “Borrower”), COREY R. MAPLE (the “Guarantor” and, together with Borrower, each, an “Obligor” and collectively, the “Obligors”) and WELLS FARGO BANK, NATIONAL ASSOCIATION, as lender (the “Lender”).
