LOAN AGREEMENTLoan Agreement • December 21st, 2022 • Manufactured Housing Properties Inc. • Real estate • Tennessee
THIS LOAN AGREEMENT is entered into effective as of November 14, 2022, by and between MACRAL PROPERTIES, LLC, a North Carolina limited liability company (“MACRAL”), and RON-RAN ENTERPRISES, LLC, a North Carolina limited liability company (“RON-RAN”) (each of the foregoing, individually and collectively, “Borrower”), and VANDERBILT MORTGAGE AND FINANCE, INC., a Tennessee corporation (“Lender”).
SECURITY AGREEMENT AND ASSIGNMENT OF RENTSSecurity Agreement and Assignment of Rents • December 21st, 2022 • Manufactured Housing Properties Inc. • Real estate • Tennessee
This SECURITY AGREEMENT AND ASSIGNMENT OF RENTS (this “Agreement”) is entered into effective as of November 14, 2022 by GVEST WAKE FOREST 2 HOMES LLC, a North Carolina limited liability company, whose address for notice is 136 Main Street, Pineville, NC 28134, Attention: Raymond M. Gee (the “Debtor”), for the benefit of VANDERBILT MORTGAGE AND FINANCE, INC., a Tennessee corporation, whose address for notice is 500 Alcoa Trail, Maryville, Tennessee 37804, Attn: Commercial Lending Division (the “Lender”).
DEED OF TRUST, ASSIGNMENT OF LEASES AND RENTS, SECURITY AGREEMENT AND FIXTURE FILING (NORTH CAROLINA)Security Agreement • December 21st, 2022 • Manufactured Housing Properties Inc. • Real estate • Tennessee
This DEED OF TRUST, ASSIGNMENT OF LEASES AND RENTS, SECURITY AGREEMENT AND FIXTURE FILING (as amended, restated, replaced, supplemented, or otherwise modified from time to time, the “Security Instrument”) is dated effective as of November 14, 2022 by MACRAL PROPERTIES, LLC, a North Carolina limited liability company, and RON-RAN ENTERPRISES, LLC, a North Carolina limited liability company, a grantor (individually and collectively, “Grantor”), to JOHN ADAM KRAEMER, as trustee (“Trustee”), for the benefit of VANDERBILT MORTGAGE AND FINANCE, INC., a Tennessee corporation, as beneficiary (“Lender”).
ASSIGNMENT OF MEMBERSHIP INTEREST PURCHASE AGREEMENTMembership Interest Purchase Agreement • December 21st, 2022 • Manufactured Housing Properties Inc. • Real estate
THIS ASSIGNMENT OF THE MEMBERSHIP INTEREST PURCHASE AGREEMENT (this “Assignment”), dated October 27, 2022, is made by and among MHP PURSUITS LLC, a North Carolina limited liability company (the “Buyer” or “Assignor”), and COUNTRY ROAD MHP LLC, a North Carolina limited liability company (the “Assignee”), and provides as follows:
ASSIGNMENT OF MEMBERSHIP INTEREST PURCHASE AGREEMENTAssignment of Membership Interest Purchase Agreement • December 21st, 2022 • Manufactured Housing Properties Inc. • Real estate
THIS ASSIGNMENT OF THE MEMBERSHIP INTEREST PURCHASE AGREEMENT (this “Assignment”), dated October 27, 2022, is made by and among MHP PURSUITS LLC, a North Carolina limited liability company (the “Buyer” or “Assignor”), and COOLEY’S MHP LLC, a North Carolina limited liability company (the “Assignee”), and provides as follows:
ASSIGNMENT OF MEMBERSHIP INTEREST PURCHASE AGREEMENTMembership Interest Purchase Agreement • December 21st, 2022 • Manufactured Housing Properties Inc. • Real estate
THIS CORRECTED AND RESTATED ASSIGNMENT OF THE MEMBERSHIP INTEREST PURCHASE AGREEMENT (this “Assignment”), dated November 8, 2022, is made by and among MHP PURSUITS LLC, a North Carolina limited liability company (the “Buyer” or “Assignor”), and WAKE FOREST 2 MHP LLC, f/k/a Country Road MHP, LLC, a North Carolina limited liability company (the “Assignee”), and provides as follows:
MEMBERSHIP INTEREST PURCHASE AGREEMENTMembership Interest Purchase Agreement • December 21st, 2022 • Manufactured Housing Properties Inc. • Real estate • North Carolina
THIS MEMBERSHIP INTEREST PURCHASE AGREEMENT (“Agreement”) is made on June 24, 2022 (the “Effective Date”), by and between RANDY NORRIS BAILEY (“Seller”), RON-RAN ENTERPRISES L.L.C., a North Carolina limited liability company (the “Company” or “Ron-Ran”) and MHP PURSUITS LLC, a North Carolina limited liability company (“Buyer”).
MEMBERSHIP INTEREST PURCHASE AGREEMENTMembership Interest Purchase Agreement • December 21st, 2022 • Manufactured Housing Properties Inc. • Real estate • North Carolina
THIS MEMBERSHIP INTEREST PURCHASE AGREEMENT (“Agreement”) is made on June 24, 2022 (the “Effective Date”), by and between RANDY NORRIS BAILEY and MICHELLE E. BAILEY, Husband and Wife, (“Sellers”), MACRAL Properties, LLC., a North Carolina limited liability company (the “Company” or “MACRAL”) and MHP PURSUITS LLC, a North Carolina limited liability company (“Buyer”).
PROMISSORY NOTEManufactured Housing Properties Inc. • December 21st, 2022 • Real estate
This Promissory Note (“Note”) is issued in accordance with and pursuant to that certain Loan Agreement by and between Borrower and Lender of even date herewith (as such may be amended and/or restated from time to time, the “Loan Agreement”), the terms of which are incorporated herein by this reference. Capitalized terms not otherwise defined herein shall have such meaning as set forth in the Loan Agreement.
FIRST AMENDMENT TO MEMBERSHIP INTEREST PURCHASE AGREEMENTMembership Interest Purchase Agreement • December 21st, 2022 • Manufactured Housing Properties Inc. • Real estate • North Carolina
The Membership Interest Purchase Agreement (“MIPA”), effective October 21, 2022, is hereby amended (“First Amendment”), by and Randy Norris Bailey, Michelle E. Bailey, Husband and Wife, MACRAL Properties, LLC, a North Carolina limited liability company, collective referred to as “Sellers” or “Seller”; and MHP PURSUITS LLC, a North Carolina limited liability company (“Buyer”), and provides as follows:
FIRST AMENDMENT TO MEMBERSHIP INTEREST PURCHASE AGREEMENTMembership Interest Purchase Agreement • December 21st, 2022 • Manufactured Housing Properties Inc. • Real estate • North Carolina
The Membership Interest Purchase Agreement (“MIPA”), effective October 21, 2022, is hereby amended (“First Amendment”), by and Randy Norris Bailey, a married man; Ron-Ran Enterprises LLC, a North Carolina limited liability company, collective referred to as “Sellers” or “Seller”; and MHP PURSUITS LLC, a North Carolina limited liability company (“Buyer”), and provides as follows:
