OMNIBUS AMENDMENT, ASSIGNMENT, ASSUMPTION, RELEASE AND REAFFIRMATION AGREEMENT (Loan from East Boston Savings Bank)Release and Reaffirmation Agreement • March 3rd, 2020 • Procaccianti Hotel Reit, Inc. • Real estate investment trusts
This Omnibus Amendment, Assignment, Assumption, Release and Reaffirmation Agreement (“Omnibus Agreement”) is made as of the 27th day of February, 2020, between and among GANO HOLDINGS, LLC (“Borrower”, sometimes “PropCo”), a Rhode Island limited liability company, PHR GANO OPCO SUB, LLC (“OpCo”, sometimes “Franchisee”), a Delaware limited liability company; Procaccianti Hotel REIT, Inc. (“GPHREIT”), a Maryland corporation; and James A. Procaccianti (“JProcaccianti”), all of the foregoing (collectively, the “Procaccianti Parties”) having a mailing address c/o The Procaccianti Group, 1140 Reservoir Avenue, Cranston, Rhode Island 02920-6032, Attn: James A. Procaccianti, President and CEO, and EAST BOSTON SAVINGS BANK (“Bank”), a Massachusetts banking corporation with its principal office at 67 Prospect Street, Peabody, Massachusetts 01960.
