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Loan Agreement - 724 3rd Ave, Watervliet, NY 12189.pdf

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Description

PROMISSORY NOTE Loan Amount: $5,200 Loan Date: October 15, 2025 For value received, the undersigned Grape LFTY403 DAO LLC (the "Borrower"), promises to pay to the order of ________ (the "Lender"), the sum of five thousand two hundred dollars ($5,200) with interest from October 15, 2025, on the unpaid principal at the rate of nine percent (9%) per annum, compounded annually. The loan shall be advanced for business purposes in connection with the property located at 724 3rd Ave. Watervliet, NY 121

Extracted Content

PROMISSORY NOTE Loan Amount: $5,200 Loan Date: October 15, 2025 For value received, the undersigned Grape LFTY403 DAO LLC (the "Borrower"), promises to pay to the order of ________ (the "Lender"), the sum of five thousand two hundred dollars ($5,200) with interest from October 15, 2025, on the unpaid principal at the rate of nine percent (9%) per annum, compounded annually. The loan shall be advanced for business purposes in connection with the property located at 724 3rd Ave. Watervliet, NY 12189 (the “Property”) and jointly serviced by Lofty AI, Inc. and ECO Systems, LLC (“Servicer”). I. TERMS OF REPAYMENT A. Payments The unpaid principal and accrued interest shall be payable in monthly installments, beginning on November 15, 2025, and continuing until October 15, 2028, (the "Due Date"), at which time the remaining unpaid principal and interest shall be due in full. The monthly installment payments of principal and interest shall be one hundred sixty-five dollars and forty-four cents ($165.44). B. Acceleration of Debt If the Borrower is in default under this Note or is in default under the security instrument securing repayment of this Note, and such default is not cured within 5