CONSTRUCTION LOAN AGREEMENTConstruction Loan Agreement • December 15th, 2015 • Shepherd's Finance, LLC • Short-term business credit institutions • Florida
THIS CONSTRUCTION LOAN AGREEMENT, the (“Agreement”) dated December 9, 2015, is made and executed between Eclipse Partners II, LLC ("Borrower") and Shepherd's Finance, LLC ("Lender") on the following terms and conditions. Borrower has applied to Lender for one or more loans for purposes of constructing the Improvements on the Real Property described below. Lender is willing to lend the loan amount to Borrower solely under the terms and conditions specified in this Agreement and in the Promissory Note, Mortgage and Security Agreement, and other related documents, the “Related Documents” for the loan dated December 9, 2015, to each of which Borrower agrees. 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, and (B) all such Loans shall be and remain subject to the terms and conditions of this Agreement.
MORTGAGE AND SECURITY AGREEMENTMortgage and Security Agreement • December 15th, 2015 • Shepherd's Finance, LLC • Short-term business credit institutions • Florida
MAXIMUM LIEN. The total amount of indebtedness secured by this Mortgage may decrease or increase from time to time, but the maximum amount of principal indebtedness which may be outstanding at any one time shall not exceed Two Million Six Hundred Forty Thousand and 00/100 dollars ($2,640,000.00), plus interest, and amounts expended or advanced by Lender for the payment of taxes, levies or insurance on the Property, and interest on such amounts.
BUILDER DEPOSIT AGREEMENTBuilder Deposit Agreement • December 15th, 2015 • Shepherd's Finance, LLC • Short-term business credit institutions • Delaware
This Agreement made this December 9, 2015, by and between Eclipse Partners II, LLC, (hereinafter referred to as "Borrower"), a Florida Limited Liability Company, AND Shepherd's Finance, LLC, a Delaware Limited Liability Company, (hereinafter referred to as "Lender").
