Company: DREM
Filing Date: 2025-11-13
Form Type: 10-Q
Source: 0001493152-25-022261
Chunk: 10

Company: Dream Homes & Development Corp.
Filing Date: 2025-11-13
Form: 10-Q
Item: Item 8
Chunk 10
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     - 
  
    Long-term portion 
    $2,647,479  
    $2,942,900 

On
August 14, 2025, the Company closed on a funding facility with Asset Based Lending for the Autumn Run manufactured home development.
The total facility is in the amount of $13,600,000 and includes a refinance of the existing land debt, a percentage of the infrastructure/site
development costs and a vertical construction facility for the entire development. As a result of this funding, the existing $750,000
mortgage with Lynx Assets has been retired. The new line carries and interest rate of 10.50% per annum and term of 2 years. At September
30, 2025, $1,229,100 was advanced under this facility.

The
following summarizes the use of proceeds:

 Schedule
of Use of Proceeds

    Proceeds 
    $1,229,100 
  
    Settlement charges 
     (266,030)
  
    Interest reserve 
     (190,000)
  
    Loan payoff 
     (762,437)
  
    Cash received 
    $10,633 

6-Notes
Payable-Others/Loans Payable to Related Parties

Loans
payable to related parties is summarized as follows:

 Schedule
of Loans Payable to Related Parties

    September 30, 
2025  
    December 31, 
2024 

    Loan payable-Dream Homes, LTD 
    $15,164  
    $4,706 
  
    Loans payable to GPIL 
     590,450  
     657,310 
  
    Other related party loans 
     1,385  
     4,975 
  
    Total 
    $609,999  
    $666,991 

Advances
from the loans bear interest at a rate of 12%, with interest being payable on demand.

Notes
payable - others is summarized as follows:

 Schedule
of Notes Payable - Others

    September 30, 
2025  
    December 31, 
2024 

    Note payable-Chipman Trust 
    $47,500  
    $47,500 
  
    Note payable-Channel Partners 
     (2,893) 
     (2,893)
  
    Total 
    $44,607  
    $44