Promissory Note and Balloon Addendum between Coosa Nursing ADK, LLC and The Exchange Bank of Alabama dated September 30, 2021
Coosa Nursing ADK, LLC has entered into a loan agreement with The Exchange Bank of Alabama for $5,146,391.81 at a 3.95% interest rate, secured by all assets at 513 Pineview Ave, Glencoe, AL. The loan matures on October 10, 2026, at which time the full remaining balance and any unpaid interest are due. The bank is not required to refinance the loan at maturity, and the borrower may need to seek alternative financing or pay the balance from other assets. The agreement is signed by authorized representatives of both parties.
Exhibit 4.17
| BALLOON ADDENDUM | DCN: 753AE5030AC3CE5C00A0BDC6362B3C88 | DATE 09/30/2021 | ||||
| DEBTOR'S NAME(S) | LENDER'S NAME | |||||
| COOSA NURSING ADK, LLC | The Exchange Bank of Alabama | |||||
| DEBTOR'S ADDRESS | LENDER'S ADDRESS | |||||
| 454 Satelllite Blvd NW | PO Box 1100 Gadsden, AL 35902 | |||||
| NOTE NUMBER 577832 | PRINCIPAL AMOUNT $5,146,391.81 | RATE 3.9500 % | MATURITY DATE 10/10/2026 | |||
COLLATERAL:
ALL ASSETS
513 Pineview Ave Glencoe, AL 35905
See exhibit "A" for legal description made a part hereof the same as if fully set out herein.
This loan is payable in full on the maturity date specified above. You must repay the entire principal balance of the loan and unpaid interest then due. The bank is under no obligation to refinance the loan at that time. You will, therefore, be required to make payment out of other assets that you may own, or you will have to find a lender, which may be the bank you have this loan with, willing to lend you the money. If you refinance this loan at maturity, you may have to pay some or all of the closing costs normally associated with a new loan even if you obtain refinancing from the same bank.
IN WITNESS HEREOF, the parties have affixed their signatures and seals this day.
DEBTOR'S SIGNATURE(S)
Brent Morrison,Manager of COOSA NURSING ADK, LLCBenjamin A Waites, Manager of COOSA NURSING ADK, LLC
