EXHIBIT 10.2
RENEWAL REVOLVING PROMISSORY NOTE
(Floating Rate Revolving Line of Credit)
$25,000,000.00 | March 31, 2022 |
For value received, GUARANTY BANCSHARES, INC., a Texas corporation, as principal ("Borrower"), promises to pay to the order of FROST BANK, a Texas state bank ("Lender") at P.O. Box 34746, San Antonio, Texas 78265, or at such other address as Lender shall from time to time specify in writing, the principal sum of TWENTY FIVE MILLION AND NO/100 DOLLARS ($25,000,000.00), or so much that may be advanced from time to time, in legal and lawful money of the United States of America, with interest on the outstanding principal from the date advanced until paid at the rate set out below. Interest shall be computed on a per annum basis of a year of 360 days and for the actual number of days elapsed, unless such calculation would result in a rate greater than the highest rate permitted by applicable law, in which case interest shall be computed on a per annum basis of a year of 365 days or 366 days in a leap year, as the case may be.
BORROWER: |
| GUARANTY BANCSHARES, INC. |
| By: | /s/ Ty Abston |
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| Ty Abston, Chairman & CEO |
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