Company: INTG
Filing Date: 2025-05-15
Form Type: 10-Q
Source: 0001641172-25-010724
Chunk: 30

Company: INTERGROUP CORP
Filing Date: 2025-05-15
Form: 10-Q
Item: Part I, Item 1
Chunk 30
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 March 31, 2025 and June 30, 2024, respectively.

SCHEDULE
OF RELATED PARTY AND OTHER FINANCING TRANSACTIONS 

    As
    of 
    March
    31, 2025  
    June
    30, 2024 
  
    Note payable - Hilton 
    $1,663,000  
    $1,742,000 
  
    Note payable - Aimbridge 
     458,000  
     646,000 
  
    Total
    other notes payable 
    $2,121,000  
    $2,388,000 

On
July 2, 2014, the Partnership obtained from InterGroup an unsecured loan in the principal amount of $4,250,000 at 12% per year fixed
interest, with a term of 2 years, payable interest only each month. InterGroup received a 3% loan fee. The loan may be prepaid at any
time without penalty. The loan was extended to July 31, 2023. On December 16, 2020, the Partnership and InterGroup entered into a loan
modification agreement which increased the Partnership’s borrowing from InterGroup as needed up to $10,000,000. On December 31,
2021, Portsmouth and InterGroup entered into a loan modification agreement which increased Portsmouth’s borrowing from InterGroup
as needed up to $16,000,000. Upon the dissolution of the Partnership in December 2021, Portsmouth assumed the Partnership’s note
payable to InterGroup in the amount of $11,350,000. In July 2023, the note maturity date was extended to July 31, 2025 and the borrowing
amount available was increased to $20,000,000. The Company agreed to a 0.5% loan extension and modification fee payable to InterGroup.
In March 2024, Portsmouth and InterGroup entered into a loan modification agreement which increased Portsmouth’s borrowing amount
to $30,000,000. Portsmouth agreed to a 0.5% loan modification fee for the increased borrowing of $10,000,000 payable to InterGroup. As
of June 30, 2024, the balance of the loan was $26,493,000 net of loan amortization costs of zero. In March 2025, Portsmouth and InterGroup
executed a loan modification agreement that increased Portsmouth’s available borrowing capacity to $