DLOC NOTEDloc Note • March 27th, 2024 • Lodging Fund REIT III, Inc. • Real estate investment trusts
FOR VALUE RECEIVED, LF3 CHARLOTTE, LLC, a Delaware limited liability company, and LF3 CHARLOTTE TRS, LLC, a Delaware limited liability company (individually and collectively, jointly and severally, the “Borrower”), promise to pay to the order of WESTERN ALLIANCE BANK, an Arizona corporation, and its successors and assigns (“Lender”), the principal sum stated above as the Note Amount, or so much thereof as may have been advanced by Lender, with interest thereon, on the dates and at the rates and upon the terms and conditions specified below. This DLOC Note (this “Note”) is the DLOC Note referred to in the Loan Agreement, dated the same date as this Note, between Borrower and Lender (as it may be amended, restated, supplemented, extended or renewed from time to time, the “Loan Agreement”) and is being executed and delivered pursuant thereto (the loan made pursuant to this Note and the Loan Agreement being referred to in this Note as the “Loan”). Capitalized terms used in this Note and no
