PROMISSORY NOTE (Note C – 2016 Term Facility)GLADSTONE LAND Corp • October 11th, 2016 • Real estate investment trusts
For Value Received, GLADSTONE LAND LIMITED PARTNERSHIP, a Delaware limited partnership (the “Borrower”), hereby promises to pay to the order of METROPOLITAN LIFE INSURANCE COMPANY, a New York corporation (together with any future holder, “Lender”), at 10801 Mastin Blvd., Suite 930, Overland Park, Kansas 66210, or such other address as the holder of this Note may designate, the principal sum not to exceed Fifty Million and 00/100 Dollars ($50,000,000.00), together with interest from the date of the advance of funds hereunder on said principal sum, or the unpaid balance thereof, at the interest rate or rates set forth below, such principal and interest is to be paid in lawful money of the United States which shall be legal tender in payment of all debts and dues, public and private, at the time of payment. The loan evidenced by this Note (the “Loan”) will be disbursed in multiple disbursements as provided in and is subject to the terms of the Loan Agreement dated as of April 30, 2014, as
FOURTH AMENDMENT TO LOAN AGREEMENTLoan Agreement • October 11th, 2016 • GLADSTONE LAND Corp • Real estate investment trusts
THIS FOURTH AMENDMENT TO LOAN AGREEMENT (this “Amendment”) is made and entered into as of October 5, 2016, by and among GLADSTONE LAND LIMITED PARTNERSHIP, a Delaware limited partnership (“Borrower”), GLADSTONE LAND CORPORATION, a Maryland corporation (“Guarantor”), and METROPOLITAN LIFE INSURANCE COMPANY, a New York corporation (the “Lender”).
PROMISSORY NOTE (Note D – 2016 RELOC)GLADSTONE LAND Corp • October 11th, 2016 • Real estate investment trusts
For Value Received, GLADSTONE LAND LIMITED PARTNERSHIP, a Delaware limited partnership (the “Borrower”), hereby promises to pay to the order of METROPOLITAN LIFE INSURANCE COMPANY, a New York corporation (together with any future holder, “Lender”), at 10801 Mastin Blvd., Suite 930, Overland Park, Kansas 66210, or such other address as the holder of this Note may designate, the principal sum of up to Twenty-five Million and 00/100 Dollars ($25,000,000.00), together with interest from the date of the initial advance of funds hereunder on the said principal sum, or the unpaid balance thereof, at the rate(s) set forth below, such principal and interest is to be paid in lawful money of the United States which shall be legal tender in payment of all debts and dues, public and private, at the time of payment. The loan evidenced by this Note (the “Loan”) is a revolving line of credit and is subject to the terms of, and will be disbursed in installments as provided in, the Loan Agreement dated
SECOND AMENDMENT TO PROMISSORY NOTE (NOTE A)Promissory Note • October 11th, 2016 • GLADSTONE LAND Corp • Real estate investment trusts
THIS SECOND AMENDMENT TO PROMISSORY NOTE (NOTE A) (this “Amendment”) is made and entered as of October 5, 2016 (the “Effective Date”) by and between GLADSTONE LAND LIMITED PARTNERSHIP, a Delaware limited partnership (“Borrower”), and METROPOLITAN LIFE INSURANCE COMPANY, a New York corporation (“Lender”), with reference to that certain Promissory Note (Note A) in the original principal amount of up to ONE HUNDRED MILLION AND 00/100 DOLLARS ($100,000,000.00) made by Borrower to the order of Lender and dated April 30, 2014, as amended by that certain First Amendment to Promissory Note A dated as of September 3, 2015 (as amended, “Note A”). Capitalized terms used in this Amendment but not otherwise defined herein shall have the meanings given to them in Note A.
SECOND AMENDMENT TO PROMISSORY NOTE (NOTE B)GLADSTONE LAND Corp • October 11th, 2016 • Real estate investment trusts
THIS SECOND AMENDMENT TO PROMISSORY NOTE (NOTE B) (this “Amendment”) is made and entered as of October 5, 2016 (the “Effective Date”), by and between GLADSTONE LAND LIMITED PARTNERSHIP, a Delaware limited partnership (“Borrower”), and METROPOLITAN LIFE INSURANCE COMPANY, a New York corporation (“Lender”), with reference to that certain Promissory Note (Note B) in the original principal amount of up to TWENTY FIVE MILLION AND 00/100 DOLLARS ($25,000,000.00) made by Borrower to the order of Lender and dated April 30, 2014, as amended by that certain First Amendment to Promissory Note B dated as of September 3, 2015 (as amended, “Note B”). Capitalized terms used in this Amendment but not otherwise defined herein shall have the meanings given to them in Note B.
