Amendment to Line of Credit/Promissory Note between InnSuites Hospitality Trust and Tempe/Phoenix Airport Resort, LLC

Contract Categories: Business Finance › Modification Agreements
Summary

InnSuites Hospitality Trust and Tempe/Phoenix Airport Resort, LLC have agreed to amend their existing Line of Credit/Promissory Note. The changes extend the maturity date from June 30, 2017 to June 30, 2019 and increase the maximum credit amount from $500,000 to $1,000,000. All other terms of the original agreement dated December 22, 2015 remain unchanged. This amendment is signed by both parties and reflects their mutual consent to the new terms.

Read More Arrow
EX-10.2 3 ex10-2.htm

 

 

   
 

 

Date: 6/19/2017

 

LINE OF CREDIT / PROMISORRY NOTE

 

InnSuites Hospitality Trust / Tempe/Phoenix Airport Resort, LLC

 

Change in Terms

 

1)Change Maturity date from June 30, 2017 to June 30, 2019
   
2)Change Line of Credit Maximum Amount from $500,000 to $1,000,000

 

All other terms from the Line of Credit / Promissory Note InnSuites Hospitality Trust / Tempe Phoenix Airport Resort, LLC dated December 22, 2015 are not changed.

 

/s/ Tempe/Phoenix Airport Resort, LLC   /s/ InnSuites Hospitality Trust
by Rare Earth Financial, LLC, Managing Member   by James Wirth, CEO
Tempe/Phoenix Airport Resort, LLC   InnSuites Hospitality Trust
Borrower   Lender