Attached files
| file | filename |
|---|---|
| EXCEL - IDEA: XBRL DOCUMENT - Bluerock Residential Growth REIT, Inc. | Financial_Report.xls |
| 10-Q - FORM 10-Q - Bluerock Residential Growth REIT, Inc. | v239335_10q.htm |
| EX-32.1 - EXHIBIT 32.1 - Bluerock Residential Growth REIT, Inc. | v239335_ex32-1.htm |
| EX-31.2 - EXHIBIT 31.2 - Bluerock Residential Growth REIT, Inc. | v239335_ex31-2.htm |
| EX-10.3 - EXHIBIT 10.3 - Bluerock Residential Growth REIT, Inc. | v239335_ex10-3.htm |
| EX-31.1 - EXHIBIT 31.1 - Bluerock Residential Growth REIT, Inc. | v239335_ex31-1.htm |
| EX-10.2 - EXHIBIT 10.2 - Bluerock Residential Growth REIT, Inc. | v239335_ex10-2.htm |
EXHIBIT 10.1
SECURED PROMISSORY NOTE MODIFICATION AGREEMENT
THIS NOTE MODIFICATION AGREEMENT (this “Agreement”) is made and entered into on July 20, 2011, by and among BLUEROCK SPECIAL OPPORTUNITY + INCOME FUND, LLC, a Delaware limited liability company (together with its successors and assigns, the “Lender”), and BEMT MEADOWMONT, LLC, a Delaware limited liability company (the “Borrower”).
WITNESSETH:
WHEREAS, the Lender and the Borrower entered into that certain Secured Promissory Note dated as of January 20, 2011 (the “Promissory Note’), which Promissory Note evidenced the obligation of the Borrower to repay the loan to the Lender in the aggregate principal sum of up to $500,000 (the “Loan”) plus interest, fees and costs; and
WHEREAS, the Promissory Note was extended on July 20, 2011 (“the Note Modification Agreement”), and all amounts owing thereunder, including without limitation all principal and interest, became automatically and immediately due and payable on January 20, 2012; and
WHEREAS, the Lender is willing to grant such request, subject to the terms and conditions set forth herein;
NOW, THEREFORE, in consideration of the foregoing premises, and other good and valuable consideration, the receipt and legal sufficiency of which are hereby acknowledged, the parties hereto hereby agree as follows:
1. Defined Terms. All capitalized terms used herein and not otherwise expressly defined herein shall have the respective meanings given to such terms in the Promissory Note.
2. Amendment to Promissory Note. The Promissory Note is hereby amended and restated to read as follows:
All outstanding principal and interest shall be due and payable on January 20, 2012 (the “Due Date”).
3. Effectiveness. The modification provided in paragraph 3 shall be effective as of July 20, 2011 upon the execution and delivery of this Agreement by the parties hereto.
4. Reaffirmation of Transaction Documents. All other items of the Promissory Note shall continue to be in effect.
IN WITNESS WHEREOF, Borrower and Lender have caused their duly authorized officers to set their hands and seals as of the day and year first above written.
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Borrower:
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BEMT Meadowmont, LLC
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a Delaware limited liability company
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By:
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Bluerock Enhanced Multifamily Holdings, L.P.,
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a Delaware limited partnership
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Its:
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Sole Member
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By:
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Bluerock Enhanced Multifamily Trust, Inc.,
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a Maryland corporation
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Its:
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General Partner
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By:
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/s/ Jordan Ruddy
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Name:
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Jordan Ruddy
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Title:
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COO
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Lender:
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BLUEROCK SPECIAL OPPORTUNITY + INCOME FUND, LLC
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a Delaware limited liability company
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By:
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Bluerock Real Estate, LLC,
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a Delaware limited partnership
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Its:
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Manager
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By:
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/s/ Jordan Ruddy
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Name:
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Jordan Ruddy
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Title:
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President
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