Master Loan Agreement Amendment, dated March 7, 2019, by and between BB&T and the Company, Southeast Power Corporation, Pineapple House of Brevard, Inc., Bayswater Development Corporation, Power Corporation of America, Precision Foundations, Inc., and C and C Power Line, Inc
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EX-10.1 2 a10-1_masterloanagreementa.htm EXHIBIT 10.1 Exhibit
Exhibit 10-1
FIRST AMENDMENT TO
MASTER LOAN AGREEMENT DATED MAY 24, 2018
THIS FIRST AMENDMENT TO MASTER LOAN AGREEMENT dated May 24, 2018 is made as of March 7, 2019, by and between The Goldfield Corporation, a Delaware corporation, Power Corporation of America, a Florida corporation, Southeast Power Corporation, a Florida corporation, C and C Power Line, Inc. a Florida corporation, Bayswater Development Corporation, a Florida corporation, Precision Foundations, Inc. a Florida corporation and Pineapple House of Brevard, Inc., a Florida corporation (either “Borrower” or collectively “Guarantors” as set forth in Exhibit “A”), and Branch Banking and Trust Company (“Lender”).
RECITALS
1. | Borrower previously received certain loans from Lender as set forth in Exhibit “A” (“Prior Loans”) and is receiving two new loans from Lender of even date (“New Loans”) as set forth in Exhibit “A” (the “Prior Loans” and “New Loans” shall be collectively hereinafter referred to as the “Loans”); and, |
2. | The Loans are subject to and governed by the terms of the Agreement. |
Now, therefore, in consideration of the premises, and in further consideration of the mutual covenants and agreements herein set forth and of the sum of Ten Dollars ($10.00) paid by each party to the other, receipt of which is hereby acknowledged, the parties covenant and agree as follows:
1. | The foregoing recitals are true and correct and incorporated herein by reference. |
2. | The Loans are subject to and governed by the terms of the Agreement. |
3. | This Amendment shall bind and inure to the benefit of the parties hereto and each of |
them and their respective successors and assigns.
4. | Except as amended herein, the Agreement remains in full force and effect. |
{SIGNATURES ON FOLLOWING PAGES}
Witnesses: | ||
The Goldfield Corporation, a Delaware corporation | ||
/s/ Melissa A. Munson | By: /s/ Stephen R. Wherry | |
Print Name: Melissa A. Munson | Stephen R. Wherry, Senior Vice President | |
/s/ Barry Forbes | ||
Print Name: Barry Forbes | ||
Southeast Power Corporation, a Florida corporation | ||
/s/ Melissa A. Munson | By: /s/ Stephen R. Wherry | |
Print Name: Melissa A. Munson | Stephen R. Wherry, Vice President | |
/s/ Barry Forbes | ||
Print Name: Barry Forbes | ||
Pineapple House of Brevard, Inc., a Florida corporation | ||
/s/ Melissa A. Munson | By: /s/ Stephen R. Wherry | |
Print Name: Melissa A. Munson | Stephen R. Wherry, Vice President | |
/s/ Barry Forbes | ||
Print Name: Barry Forbes | ||
Bayswater Development Corporation, a Florida corporation | ||
/s/ Melissa A. Munson | By: /s/ Stephen R. Wherry | |
Print Name: Melissa A. Munson | Stephen R. Wherry, Vice President | |
/s/ Barry Forbes | ||
Print Name: Barry Forbes | ||
Witnesses: | ||
Power Corporation of America, a Florida corporation | ||
/s/ Melissa A. Munson | By: /s/ Stephen R. Wherry | |
Print Name: Melissa A. Munson | Stephen R. Wherry, Vice President | |
/s/ Barry Forbes | ||
Print Name: Barry Forbes | ||
C and C Power Line, Inc., a Florida corporation | ||
/s/ Melissa A. Munson | ||
Print Name: Melissa A. Munson | By: /s/ Stephen R. Wherry | |
Stephen R. Wherry, Authorized Signer | ||
/s/ Barry Forbes | ||
Print Name: Barry Forbes | ||
Precision Foundations, Inc., a Florida corporation | ||
/s/ Melissa A. Munson | ||
Print Name: Melissa A. Munson | By: /s/ Stephen R. Wherry | |
Stephen R. Wherry, Vice President | ||
/s/ Barry Forbes | ||
Print Name: Barry Forbes | ||
Branch Banking and Trust Company | ||
/s/ Melissa A. Munson | By: /s/ Barry Forbes | |
Print Name: Melissa A. Munson | Barry Forbes, Senior Vice President | |
/s/ Denise L. Diaz | ||
Print Name: Denise L. Diaz | ||
Exhibit “A”
“Currently Outstanding Prior Loans”
The Goldfield Corporation:
Loan Number -- 9660933082
Notes | Original Amount | Date Opened | Guarantors |
2 | $18,000,000.00 | May 24, 2018 | Southeast Power Corporation, Pineapple House of Brevard, Inc., Bayswater Development Corporation and Power Corporation of America, C and C Power Line, Inc., and Precision Foundations, Inc. Revolving |
5 | $27,490,000.00 | May 24, 2018 | Southeast Power Corporation, Pineapple House of Brevard, Inc., Bayswater Development Corporation, Power Corporation of America, C and C Power Line, Inc., and Precision Foundations, Inc. Non-Revolving |
“New Loans”
The Goldfield Corporation:
Loan Number -- 9660933082
“New Loan” 90016 | $4,500,000.00 | March 7, 2019 | Southeast Power Corporation, Pineapple House of Brevard, Inc., Bayswater Development Corporation, Power Corporation of America, C and C Power Line, Inc., and Precision Foundations, Inc. Non-Revolving |
“New Loan” 90014 | $38,224,000.00 | March 7, 2019 | Southeast Power Corporation, Pineapple House of Brevard, Inc., Bayswater Development Corporation, Power Corporation of America, C and C Power Line, Inc., and Precision Foundations, Inc. Note: Modification and future advance of Note 5 listed above. Non-Revolving |
