Building Loan Note Sample Contracts

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BUILDING LOAN NOTE
Building Loan Note • August 15th, 2023 • Clipper Realty Inc. • Real estate investment trusts • New York

FOR VALUE RECEIVED, the undersigned, DEAN OWNER LLC, a Delaware limited liability company, having an office at 4611 Twelfth Avenue, Suite 1L, Brooklyn, New York 11219 (the “Borrower”), promises to pay to VALLEY NATIONAL BANK (the “Lender”), at the offices of Valley National Bank, as administrative agent (the “Administrative Agent”) at 1 Pennsylvania Plaza, 46th Floor, New York, New York 10119 or at such other place as the holder hereof may from time to time appoint in writing, the Principal Amount as hereinafter provided, together with interest thereon as provided herein. Defined terms used in this Building Loan Note (the “Note”) shall have the meanings ascribed thereto in Section 12 hereof or if not defined in Section 12 hereof, in the Building Loan Agreement.

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