FORM OF LOAN AGREEMENTForm of Loan Agreement • October 7th, 2019 • Groundfloor Real Estate 1, LLC • Real estate • Georgia
THIS LOAN AGREEMENT (“Loan Agreement”) is entered into as of the ____ day of _______________, 20__ by and between [NAME OF BORROWER], a [INSERT STATE OF ORGANIZATION/RESIDENCY AND TYPE OF ENTITY/NATURAL PERSON] (“Borrower”), having the address set forth on the signature page hereof, and __________________, a Georgia __________ (“Lender”),1 having the address set forth on the signature page hereof. Borrower and Lender are sometimes referred to herein individually as a “party” and collectively as the “parties.”
FORM OF LRO AGREEMENTForm of Lro Agreement • October 7th, 2019 • Groundfloor Real Estate 1, LLC • Real estate • Georgia
FOR PURPOSES OF SECTIONS 1272, 1273 AND 1275 OF THE INTERNAL REVENUE CODE OF 1986, AS AMENDED, THIS LIMITED RECOURSE OBLIGATION IS BEING ISSUED WITH ORIGINAL ISSUE DISCOUNT BECAUSE PAYMENTS ON THE SECURITY ARE DEPENDENT ON PAYMENTS ON THE CORRESPONDING LOAN BY THE DEVELOPER OF THE CORRESPONDING PROJECT. THE ISSUE PRICE OF THIS LIMITED RECOURSE OBLIGATION IS THE STATED PRINCIPAL AMOUNT, AND THE ISSUE DATE IS THE ORIGINAL ISSUE DATE, EACH AS IDENTIFIED BELOW. UPON REQUEST, THE COMPANY WILL PROMPTLY MAKE AVAILABLE TO THE HOLDER THE AMOUNT OF OID AND YIELD TO MATURITY OF THIS LIMITED RECOURSE OBLIGATION. A HOLDER SHOULD CONTACT GROUNDFLOOR LENDER SUPPORT AT (404) 850-9223 OR support@groundfloor.com.
