Springlake MHP LLC entered into loan agreement with FirstBank, a Tennessee corporation, for a loan in the principal amount of $4,016,250 and issued a promissory note to the Lender in the same amount. The funds from the loan were used to pay off Springlake MHP?s preexisting loan which was set to mature November 14, 2021. The MHP Note bears interest at the lesser of the Wall Street Journal prime rate plus 1% or 4.75% per annum with payments to begin January 10, 2022 and matures on December 10, 2026. Payment for the first 12 months of the term of the MHP Note shall be interest-only based on the principal outstanding, days in the period, and daily interest rate. Thereafter, principal and interest shall be due and payable based on a 25 year amortization schedule. Springlake MHP may prepay the MHP Note in part or in full subject to exit fees set out in the MHP Loan Agreement. The MHP Note is secured by a first-priority security interest in the land and lot rent due under all leases pursuant to a deed, assignment of leases and rents, security agreement, and fixture filing. As additional security, Springlake MHP assigned its rights under the property management agreement with Mobile Homes Rentals LLC, pursuant to an assignment of management agreement, and the Company pledged its ownership interests in Springlake MHP pursuant to an assignment of ownership interests. The loan is guaranteed by the Company pursuant to a guaranty and by Raymond Gee, the Company?s Chief Executive Officer. Also on November 12, 2021, Gvest Springlake Homes LLC, entered into a loan and security agreement with the Lender for a line of credit in the principal amount of $2,000,000 (the ?Gvest Loan Agreement?) and issued a promissory note (the ?Gvest Note?) to the Lender in the same amount. The immediate advance of funds from the line of credit was used to pay off Gvest Finance?s preexisting loan with 21st Mortgage and the Line of Credit ? Floor Plan and Rental Financing Facility with Triad. The Line of Credit ? Floor Plan and Rental Financing Facility remains available to Gvest Finance after the payoff. The Gvest Note bears interest at the lesser of the Wall Street Journal prime rate plus 1% or 6.75% per annum with principal and interest payments to begin January 10, 2022. Principal and interest payments shall be due and payable on each advance allocated to each new home based on a fifteen (15) year amortization period and each advance allocated to a used home will be based on an amortization period ranging from twelve to five years determined by the age of the used home. The Gvest Note matures on December 10, 2026. Gvest Springlake may prepay the Gvest Note in full subject to exit fees set out in the Gvest Loan Agreement. Additionally, Gvest Springlake is required to make to mandatory prepayments prior to the maturity date if for any reason the aggregate principal amount of the loan outstanding exceeds $2,000,00, upon sale of a home securing the loan, the home collateral becomes ineligible as defined by the Gvest Loan Agreement, or if Springlake MHP pays off the MHP Loan Agreement. The Gvest Note is secured by a first-priority security interest in rent due under all leases and all assets owned by Gvest Springlake pursuant to the Gvest Loan Agreement. As additional security, Gvest Springlake assigned its rights under the property management agreement with Mobile Homes Rentals LLC, pursuant to an assignment of management agreement, and Gvest Finance pledged its ownership interests in Gvest Springlake pursuant to an assignment of ownership interests. The loan is guaranteed by Gvest Finance pursuant to a guaranty and by Raymond Gee. Both loan agreements contain customary closing conditions, representations and warranties, financial and other covenants and events of default for loans of their type.