FIRST AMENDMENT TO OPEN-END MORTGAGE DEED TO SECURE PRESENT AND
FUTURE LOANS UNDER CHAPTER 25 OF TITLE 34 OF THE RHODE ISLAND
GENERAL LAWS, ASSIGNMENT OF LEASES AND RENTS, SECURITY AGREEMENT
AND FIXTURE FILING
This FIRST AMENDMENT TO OPEN-END MORTGAGE DEED TO SECURE PRESENT AND FUTURE LOANS UNDER CHAPTER 25 OF TITLE 34 OF THE RHODE ISLAND GENERAL LAWS, ASSIGNMENT OF LEASES AND RENTS, SECURITY AGREEMENT AND FIXTURE FILING (this Agreement) is made as of the 24th day of March, 2021 (the Effective Date), by ASTRONOVA, INC., a Rhode Island corporation (herein referred to as Mortgagor), whose address is 600 East Greenwich Avenue, West Warwick, Rhode Island 02893, to BANK OF AMERICA, N.A., a national banking association (Mortgagee), whose address is 100 Westminster Street, RI-536-10-01, Providence, RI 02903.
WHEREAS, Mortgagor delivered that certain Open-End Mortgage Deed To Secure Present And Future Loans Under Chapter 25 Of Title 34 Of The Rhode Island General Laws, Assignment Of Leases And Rents, Security Agreement And Fixture Filing, with an Effective Date of July 30, 2020, to Mortgagee, and recorded in the Land Evidence Records in the Town of West Warwick, Rhode Island in Book 2485, Page 3313 (the Mortgage), to secure, singly and collectively: (i) that certain Term Note of even date therewith made by Mortgagor payable to the order of Mortgagee in the principal face amount of Sixteen Million Seven Hundred Thirty-Two Thousand and No/100 Dollars ($16,732,000.00); and, (ii) that certain Revolving Note of even date therewith made by Mortgagor, payable to the order of Mortgagee in the principal face amount of Ten Million and No/100 Dollars ($10,000,000.00), as the same may from time to time be extended, renewed, amended, restated, replaced, supplemented or otherwise modified.
WHEREAS, Mortgagor and Mortgagee have agreed to certain amendments to the Loan, as that term is defined by the Mortgage (collectively, the Amendment) and as a condition precedent to amending the Loan, Mortgagee has required that Mortgagor execute and deliver this First Amendment to Open-End Mortgage Deed to Secure Present and Future Loans Under Chapter 25 of Title 34 of The Rhode Island General Laws, Assignment of Leases and Rents, Security Agreement and Fixture Filing
WHEREAS, all things necessary to make this Agreement the valid and legally binding obligation of Mortgagor in accordance with its terms, for the uses and purposes herein set forth, have been done and performed.
WHEREAS, capitalized terms used in this Agreement without definition shall have the respective meanings attributed thereto in the Loan Agreement.
Grants and Agreements
Now, therefore, for good and valuable consideration, the receipt and adequacy of which are hereby acknowledged by Mortgagor, and in order to induce Mortgagee to amend the Loan to Mortgagor and enter into the Amendment, Mortgagor agrees as follows: