GENERAL SECURITY AGREEMENTGeneral Security Agreement • August 15th, 2016 • Corning Natural Gas Holding Corp • Natural gas transmisison & distribution • Wyoming
For value given by FIVE STAR BANK (“Bank”), a New York banking corporation with an office and principal place of business located at 55 North Main Street, Warsaw, New York 14569, and Leatherstocking Gas Company, LLC, a New York limited liability company with an address of 330 West William Street, Corning, New York 14830 (“Pledgor” or “Debtor”) hereby agrees as follows:
LOAN AGREEMENTLoan Agreement • August 15th, 2016 • Corning Natural Gas Holding Corp • Natural gas transmisison & distribution
THIS LOAN AGREEMENT, made July 11, 2016, among Leatherstocking Gas Company, LLC, having an office and principal place of business at 330 West William Street, Corning, New York 14830 (the “Borrower”), Leatherstocking pipeline company, llc, having an office and principal place of business at 330 West William Street, Corning, New York 14830 (the “Guarantor”), and FIVE STAR BANK, a New York State bank, having an office at 55 North Main Street, Warsaw, New York 14569 (the “Lender”).
LINE OF CREDIT/TERM LOAN NOTECorning Natural Gas Holding Corp • August 15th, 2016 • Natural gas transmisison & distribution
FOR VALUE RECEIVED, the undersigned, Leatherstocking Gas Company, LLC, an entity organized and existing under the laws of the State of New York with an office at 330 West William Street, Corning, New York 14830 (hereinafter called “Borrower”), promises to pay pursuant to the repayment terms set forth below, to the order of FIVE STAR BANK, a New York State bank (hereinafter called “Bank”) with its principal office at 55 North Main Street, Warsaw, New York 14569, or at such other place as may be designated in writing by the holder of this Note the sum of One Million Two Hundred Fifty Thousand and 00/100 Dollars ($1,250,000.00) in lawful money of the United States (the “Loan”), or so much as may be advanced, referred to as “principal sum”, with interest hereon to be computed from the date hereof to be paid as set forth in the Payment Terms section below.
