U.S. SECURITIES AND EXCHANGE COMMISSION

Washington, D.C.  20549

 

FORM 8-K

 

PURSUANT TO SECTION 13 OR 15(d) OF THE

SECURITIES EXCHANGE ACT OF 1934

 

Date of Report (Date of earliest event reported)        August 15, 2014  

 

                        FIRST HARTFORD CORPORATION                           

 

Maine

0-8862

01-00185800

(State or other jurisdiction of

(Commission File No.) 

I.R.S. Employer Identification No.)

Incorporation)

 

 

 

 

149 Colonial Road, Manchester, Connecticut

06040

(Address of principal executive offices)

(Zip Code)

 

 

                                                                    860-646-6555                                                     

(Company’s telephone number)

 

                                                                           N/A                                                             
                                                (Former  name or former address, if changed since last report.)

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the Company under any of the following provisions (see General Instruction A.2):

 

[  ]    Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

 

[  ]     Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

 

[  ]      Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14-2(b))

 

[  ]      Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

 

 

 


 

 

 

 

Item 2.03         Financial Obligation Matter

 

On August 15, 2014, The Company refinanced a shopping center in West Springfield, MA in the amount of $10,500,000.

 

 

Terms
   

Interest Rate

4.6% per annum

30 year amortization, commencing year 3

Due in 10 years

 

Interest only

$40,250.10

Use of funds

 

Pay off of prior loan

$7,815,897.57

Transaction Cost approximately

$110,000.00

Escrows and Reserves

$452,640.00

 

Excess proceeds will be utilized to purchase additional properties for development.

 


 

SIGNATURES

 

                    Pursuant to the requirements of the Exchange Act, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

 

 

                                                                                                     

 

FIRST HARTFORD CORPORATION

   
   
Date:  August 20, 2014

By:  Stuart I. Greenwald                   

 

Stuart I. Greenwald

 

Treasurer and Secretary