Ex 10.221
Tranche 2 Promissory Note
$700,000.00August 3, 2022
For value received, LF3 RIFC Lakewood, LLC, a Delaware limited liability company and LF3 RIFC TRS, LLC, a Delaware limited liability company (collectively, “Maker”), promises to pay to the order of Legendary A-1 Bonds, a Delaware limited liability company at its principal place of business at 1635 43rd Street S, Suite 205, Fargo, ND 58103 (together with its successors and assigns “Payee”), or at such place as the holder hereof may from time to time designate in writing, the principal sum of Seven Hundred Thousand and 00/100 Dollars ($700,000.00), in lawful money of the United States of America, with interest on the unpaid principal balance from time to time outstanding to be computed in the manner, at the times and, subject to the provisions of Section 2.2(a) of the Loan Agreement dated of even date herewith between Payee, as lender, and Maker, as borrower (the “Loan Agreement”), at the Interest Rate. Capitalized terms used but not defined herein will have the respective meanings given such terms in the Loan Agreement.
Ex 10.221
Ex 10.221
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Ex 10.221
LF3 RIFC, LLC,
a Delaware limited liability company
By: Lodging Fund REIT III OP, LP,
a Delaware limited partnership, its sole member
By: Lodging Fund REIT III, Inc.,
a Maryland corporation, its general partner
By: /s/ Samuel C. Montgomery
Name: Samuel C. Montgomery
Title: Chief Financial Officer
LF3 RIFC TRS, LLC,
a Delaware limited liability company
By: Lodging Fund REIT III TRS, Inc.,
a Delaware corporation, its sole member
By: /s/ Samuel C. Montgomery
Name: Samuel C. Montgomery
Title: Chief Financial Officer