Change in Terms – Termination of Line of Credit/Promissory Note between InnSuites Hospitality Trust and Phoenix Northern Resort, LLC
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Summary
InnSuites Hospitality Trust and Phoenix Northern Resort, LLC have agreed to terminate their existing Line of Credit/Promissory Note, originally dated December 22, 2015. All other terms of the original agreement remain unchanged. This document serves as formal notice of the termination, effective as of June 19, 2017, and is signed by both parties.
EX-10.4 5 ex10-4.htm
Date: June 19, 2017
LINE OF CREDIT / PROMISORRY NOTE
InnSuites Hospitality Trust / Phoenix Northern Resort, LLC
Change in Terms – Termination of Loan
We hereby wish to terminate the Line of Credit / Promissory Note between InnSuites Hospitality Trust and Phoenix Northern Airport Resort, LLC. All other terms from the Line of Credit / Promissory Note dated December 22, 2015 are not changed.
| /s/ Phoenix Northern Resort, LLC | /s/ InnSuites Hospitality Trust | |
| By Rare Earth Financial, LLC | by James Wirth, CEO | |
| Phoenix Northern Resort, LLC | InnSuites Hospitality Trust | |
| Borrower | Lender |
