Exhibit 10.2
MODIFICATION AGREEMENT
(Modification of Loan Agreement and Other Loan Documents)
THIS MODIFICATION AGREEMENT (the “Agreement”) is dated effective as of the 30th day of September, 2022, by Broad Street Operating Partnership, LP, a Delaware limited partnership, Broad Street Realty, Inc., a Delaware corporation, and Broad Street Realty, LLC, a Maryland limited liability company, their respective successors and/or assigns (collectively, the “Borrower” for clerical convenience); MVB Bank, INC., a West Virginia banking corporation, its successors and/or assigns (the “Lender”); and Michael Z. Jacoby (individually) (the “Guarantor”).
R E C I T A L S :
W I T N E S S E T H :
NOW THEREFORE, for good and valuable consideration, the receipt and sufficiency of which are hereby mutually acknowledged and affirmed, the parties hereto do hereby agree as follows:
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Modification Agreement
Except as modified herein, all other terms and conditions in the Loan Agreement shall remain unchanged, and in full force and effect.
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Modification Agreement
Except as modified herein, all other terms and conditions in the Loan Documents shall remain unchanged, and in full force and effect.
(signatures follow next)
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Modification Agreement
WITNESS the following signatures and seals of the undersigned to this Modification Agreement:
Borrower: |
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| BROAD STREET OPERATING PARTNERSHIP, LP | |||
| a Delaware limited partnership |
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| By: | BROAD STREET OP GP, LLC |
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| A Delaware limited liability company |
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| its General Partner |
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| By: | /s/ Michael Z. Jacoby | (seal) |
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| Chief Executive Officer |
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| BROAD STREET REALTY, INC. |
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| a Delaware corporation |
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| By: | /s/ Michael Z. Jacoby | (seal) | |
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| Michael Z. Jacoby |
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| Chief Executive Officer |
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| ROAD STREET REALTY, LLC. |
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| a Maryland limited liability company |
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| By: | /s/ Michael Z. Jacoby | (seal) | |
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| Michael Z. Jacoby |
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| Chief Executive Officer |
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Guarantor: |
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| /s/ Michael Z. Jacoby | (seal) | ||
| MICHAEL Z. JACOBY (individually) |
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(signatures continue on next page)
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Modification Agreement
Witness our signatures and seals to the Modification Agreement (continued):
MODIFICATION AGREEMENT CONSENTED TO AND AUTHORIZED BY: | ||
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| MVB BANK, INC. | |
| a West Virginia banking corporation | |
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| By: | /s/ Garret Reed |
| Print Name: | Garret Reed |
| Title: | SVP |
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Modification Agreement