COMMERCIAL LOAN AGREEMENT Dated as of April 30, 2021 Between a District of Columbia limited liability company, as Borrower and RED OAK CAPITAL FUND V, LLC a Delaware limited liability company as Lender Loan No. APP-_____Commercial Loan Agreement • May 10th, 2021 • Red Oak Capital Fund V, LLC • Real estate • Michigan
Page ARTICLE I - DEFINITIONS; PRINCIPLES OF CONSTRUCTION 8 Section 1.1 Definitions 8 Section 1.2 Principles of Construction 23 Section 1.3 Accounting terms and Determinations; GAAP 24 ARTICLE II - GENERAL TERMS 24 Section 2.1 Loan Commitment; Disbursement to Borrower 24 2.1.1 Agreement to Lend and Borrow 24 2.1.2 Disbursements to Borrower 24 2.1.3 The Note, Security Instrument and Loan Documents 24 2.1.4 Use of Proceeds 24 Section 2.2 Interest Rate 24 2.2.1 Interest Rate 24 2.2.2 Interest Calculation 24 2.2.3 Default Rate 25 2.2.4 Usury Savings 25 Section 2.3 Loan Payment 25 Section 2.4 Prepayments 25 2.4.1 Voluntary Prepayments 25 2.4.2 Mandatory Prepayments 26 2.4.3 Payments After Default 26 Section 2.5 Payment of Exit Fee 26 Section 2.6 Release of Property 27 Section 2.7 Clearing Account/Cash Management 27 2.7.1 Clearing Account 27 2.7.2 Cash Management Account 28 2.7.3 Payments Received under the Cash Management Agreement 28 2.7.4 Commitment Fee; Arra
WARRANT FOR MEMBERSHIP INTERESTRed Oak Capital Fund V, LLC • May 10th, 2021 • Real estate • Michigan
This Warrant (this “Warrant) is issued in connection with that certain Commercial Loan Agreement dated as of even date herewith (the “Loan Agreement”) by and among 4303-4313 WHEELER RD SE LLC, a District of Columbia limited liability company (the “Company”), and RED OAK CAPITAL FUND V, LLC, a Delaware limited liability company (the “Holder”), and the Holder is entitled to the benefit thereof. Capitalized terms used herein without definition shall have the respective meanings ascribed to them in the Loan Agreement. The following is a statement of the rights of the Holder under this Warrant and the conditions to which this Warrant is subject, to which the Holder, by acceptance of this Warrant, agrees:
