Project Note Sample Contracts

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PROJECT NOTE – TEL (Immediate) Variable Rate (Revised 6-15-2020)
Project Note • May 21st, 2020

This Project Note (this “Project Note”) is being delivered pursuant to that certain Project Loan Agreement dated as of [________], among the Governmental Lender, [NAME OF FISCAL AGENT] (the “Fiscal Agent”) and Borrower (together with any and all amendments, modifications, supplements and restatements, the “Project Loan Agreement”) pursuant to which the Governmental Lender has made a mortgage loan in the principal amount of this Project Note to Borrower (the “Project Loan”), and this Project Note is entitled to the benefits of the Project Loan Agreement and is subject to the terms, conditions and provisions thereof. The Project Loan was funded from the separate loan (the “Funding Loan”) incurred by the Governmental Lender pursuant to the Funding Loan Agreement dated as of [________] (the “Funding Loan Agreement”) by and among [FREDDIE MAC SELLER/SERVICER], as the Initial Funding Lender, the Governmental Lender and the Fiscal Agent. This Project Note shall be deemed to be fully advanced

FIRST ALLONGE TO $2,500,000 PROJECT NOTE
Project Note • August 9th, 2004 • Boston Restaurant Associates Inc • Retail-eating places

THIS ALLONGE TO PROJECT NOTE (hereafter the “Allonge”) is made and entered into as of the 13th day of February, 2004, between Commerce Bank & Trust Company, a Massachusetts trust company with a principal place of business at 386 Main Street, Worcester, Massachusetts (hereinafter “Lender”) and Boston Restaurant Associates, Inc., a Delaware corporation with offices located in Saugus, Massachusetts (hereinafter “Borrower”) and is firmly affixed to and made a part of a certain Note (Consolidation) in the original principal balance of $2,500,000 dated June 6, 2003 executed and delivered by Borrower in favor of Lender (“Note”).

SERIES B PROJECT NOTE
Project Note • June 5th, 2017 • Florida

a Minnesota limited liability limited partnership (the “Borrower”), promises to pay to HOUSING FINANCE AUTHORITY OF MANATEE COUNTY (FLORIDA), a public body corporate and politic duly created, organized and existing under the laws of the State of Florida (together with its successors and assigns, the “Governmental Lender”; the Governmental Lender and each subsequent transferee and/or owner of this Note whether taken by endorsement or otherwise, being successively called the “Holder”), or order, at such place as may be designated in writing by the holder of this Note, the principal sum of Three Million Dollars ($3,000,000), or so much thereof as may be advanced pursuant to the Project Loan Agreement and outstanding, which sum shall be payable in lawful money of the United States of America, together with interest on the unpaid Principal Balance computed from the date of each advance until paid, calculated in the manner hereinafter set forth, and paid in the manner hereinafter set forth,

PROJECT NOTE – TEL (Immediate) FIXED RATE (Revised 10-1-2020)
Project Note • August 20th, 2019

This Project Note (this “Project Note”) is being delivered pursuant to that certain Project Loan Agreement dated as of [________], among the Governmental Lender, [NAME OF FISCAL AGENT] (the “Fiscal Agent”) and Borrower (together with any and all amendments, modifications, supplements and restatements, the “Project Loan Agreement”) pursuant to which the Governmental Lender has made a mortgage loan in the principal amount of this Project Note to Borrower (the “Project Loan”), and this Project Note is entitled to the benefits of the Project Loan Agreement and is subject to the terms, conditions and provisions thereof. The Project Loan was funded from the separate loan (the “Funding Loan”) incurred by the Governmental Lender pursuant to the Funding Loan Agreement dated as of [________] (the “Funding Loan Agreement”) by and among [FREDDIE MAC SELLER/SERVICER], as the Initial Funding Lender, the Governmental Lender and the Fiscal Agent. This Project Note shall be deemed to be fully advanced

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