Modification Agreement to Commercial Loan Between Syra Health Corp and Citizens State Bank of New Castle
Syra Health Corp and Citizens State Bank of New Castle have agreed to modify the terms of a $1,500,000 commercial loan originally dated February 7, 2022. The main change is a 30-day extension of the loan's maturity date from March 31, 2023, to April 30, 2023, with monthly interest-only payments continuing as previously agreed. This extension allows time for necessary approvals. All other terms of the original loan remain unchanged.
Exhibit 10.19
MODIFICATION OF LOAN AGREEMENT
At the request of Syra Health Corp Borrower (s) and by mutual agreement of the parties, the terms of Commercial Loan number 709505950 for $ 1,500,000.00 dated the 7th day of February, 2022, made by the Citizens State Bank of New Castle, Indiana to, or assumed by, the undersigned borrower (s) are hereby modified in the following particulars and the maturity date of the loan is amended to cover any additional or reduced time required by this modification.
Extend Maturity 30 days from 03/31/2023 to 04/30/2023 with monthly interest only payments to continue as agreed. This extension is necessary to account for DLC and Board Approval in April.
Such modifications shall continue in effect until rescinded by the Bank. In all Other particulars and respects, the terms and conditions of the original Commercial Note Loan are continued in full force and effect.
Dated this 8th day of March, 2023
| /s/ Deepika Vuppalanchi | /s/ Deepika Vuppalanchi | |
| Guarantor | Borrower | |
| Guarantor | Borrower | |
| Citizens State Bank of New Castle | Citizens State Bank of New Castle | |
| /s/ Matthew Patterson | ||
| Officer | Approval |
