Document:

Exhibit 10.2

Exhibit 10.2

	 	 	 
	

	 	 
	 	 	 	 
	 

	 	

Bridge Loan Agreement

This Bridge Loan Agreement (“Agreement”), dated as of June 23, 2010, is between Bank of America,
N.A. (the “Bank”) and MCA Enterprises Brandon, Inc. (the “Borrower”).

1. THE LOAN

1.1 Loan Amount and Purpose. Subject to the terms and conditions set forth in this Agreement, the
Bank agrees to advance up to Nine Hundred Twenty Thousand and 00/100 Dollars ($920,000.00) (the
“Bridge Loan”) to be used by the Borrower to finance a portion of the cost of purchasing the real
property located at 2055 Badlands Drive, Brandon, Florida 33511 (the “Property”). The Bridge Loan
will be repaid with the proceeds of debentures (the “Debentures”) guaranteed by the U.S. Small
Business Administration (“SBA”) pursuant to a Section 504 Authorization for Debenture Guaranty
issued by the SBA on April 1, 2010 (the “SBA Loan Authorization”). The balance of the long term
financing required in connection with the purchase of the Property is being provided by the Bank
with a real estate loan (the “Real Estate Loan”) under the terms of a Real Estate Loan Agreement
(the “Real Estate Loan Agreement”) dated as of the same date as this Agreement.

1.2 Availability Period. The Bridge Loan is available in one or more disbursements from the Bank
between the date of this Agreement and April 23, 2011 unless the Borrower is in default (the
“Expiration Date’’).

1.3 Repayment Terms.

	(a)	 	The Borrower will pay interest on July 23, 2010 and then on the same day of each month
thereafter until payment in full of any principal outstanding under this Agreement.

	(b)	 	The Borrower will repay in full any principal, interest or other charges outstanding under
this Agreement no later than the Expiration Date.

	(c)	 	The Borrower may prepay principal in full or in part at any time without the payment of a
prepayment fee or premium.

1.4 Interest Rate.

	(a)	 	The interest rate is a rate per year equal to the Bank’s Prime Rate plus 3.000 percentage
point(s).

	(b)	 	The Prime Rate is the rate of interest publicly announced from time to time by the Bank as
its Prime Rate. The Prime Rate is set by the Bank based on various factors, including the
Bank’s costs and desired return, general economic conditions and other factors, and is used as
a reference point for pricing some loans. The Bank may price loans to its customers at, above,
or below the Prime Rate. Any change in the Prime Rate shall take effect at the opening of
business on the day specified in the public announcement of a change in the Bank’s Prime Rate.

Ref# 1000367221 — MCA Enterprises Brandon Inc.

Bridge Loan Agreement

 

 

 

2. FEES AND EXPENSES

2.1 Fees.

	(a)	 	Loan Fee. The Borrower agrees to pay a loan fee in the amount of Four Thousand Six
Hundred and 00/100 Dollars ($4,600.00). This fee is due on or before the date the Bridge Loan
is disbursed.

	(b)	 	Waiver Fee. If the Bank, at its discretion, agrees to waive or amend any terms of
this Agreement, the Borrower will, at the Bank’s option, pay the Bank a fee for each waiver or
amendment in an amount advised by the Bank at the time the Borrower requests the waiver or
amendment. Nothing in this paragraph shall imply that the Bank is obligated to agree to any
waiver or amendment requested by the Borrower. The Bank may impose additional requirements as
a condition to any waiver or amendment.

	(c)	 	Late Fee. To the extent permitted by law, the Borrower agrees to pay a late fee in an
amount not to exceed four percent (4%) of any payment that is more than fifteen (15) days
late. The imposition and payment of a late fee shall not constitute a waiver of the Bank’s
rights with respect to the default.

2.2 Expenses. The Borrower agrees to pay all costs and expenses incurred by the Bank in connection
with making the Bridge Loan. Such costs and expenses include, but are not limited to, charges for
title insurance, recording and escrow charges, appraisal fees, fees for environmental services, and
any other reasonable fees and costs for services, regardless of whether such services are furnished
by the Bank’s employees or by independent contractors.

2.3 Reimbursement Costs.

	(a)	 	The Borrower agrees to reimburse the Bank for any expenses it incurs in the preparation of
this Agreement and any agreement or instrument required by this Agreement. Expenses include,
but are not limited to, reasonable attorneys’ fees, including any allocated costs of the
Bank’s in-house counsel to the extent permitted by applicable law.

	(b)	 	The Borrower agrees to reimburse the Bank for the cost of periodic appraisals of the real
property collateral securing the Agreement, at such intervals as the Bank may reasonably
require. The appraisals may be performed by employees of the Bank or by independent
appraisers.

3. COLLATERAL

3.1 Real Property.

	(a)	 	All obligations of the Borrower under this Agreement will be secured by a Mortgage (the “Real
Estate Security Instrument”) executed by the Borrower covering the Property. The Bank’s lien
created under the Real Estate Security Instrument will be junior to the lien on the Property
which secures the Real Estate Loan provided by the Bank.

4. DISBURSEMENT AND PAYMENTS

4.1 Disbursements and Payments.

	(a)	 	Each payment by the Borrower will be made in U.S. Dollars and immediately available funds by
debit to a deposit account, as described in this Agreement or otherwise authorized by the
Borrower. For payments not made by direct debit, payments will be made by mail to the address
shown on the Borrower’s statement or at one of the Bank’s banking centers in the United
States, or by such other method as may be permitted by the Bank.

	(b)	 	The Bank may honor instructions for advances or repayments given by any one of the
individuals authorized to sign loan agreements on behalf of the Borrower, or any other
individual designated by any one of such authorized signers.

	(c)	 	For any payment under this Agreement made by debit to a deposit account, the Borrower will
maintain sufficient immediately available funds in the deposit account to cover each debit. If
there are insufficient
immediately available funds in the deposit account on the date the Bank enters any such
debit authorized by this Agreement, the Bank may reverse the debit.

Ref# 1000367221 — MCA Enterprises Brandon Inc.

Bridge Loan Agreement

 

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	(d)	 	Each disbursement by the Bank and each payment by the Borrower will be evidenced by records
kept by the Bank. In addition, the Bank may, at its discretion, require the Borrower to sign
one or more promissory notes.

	(e)	 	Prior to the date each payment of principal and interest and any fees from the Borrower
becomes due (the “Due Date”), the Bank will mail to the Borrower a statement of the amounts
that will be due on that Due Date (the “Billed Amount”). The calculations in the bill will be
made on the assumption that no new extensions of credit or payments will be made between the
date of the billing statement and the Due Date, and that there will be no changes in the
applicable interest rate. If the Billed Amount differs from the actual amount due on the Due
Date (the “Accrued Amount”), the discrepancy will be treated as follows:

	 	(i)	 	If the Billed Amount is less than the Accrued Amount, the Billed Amount for the
following Due Date will be increased by the amount of the discrepancy. The Borrower
will not be in default by reason of any such discrepancy.

	 	(ii)	 	If the Billed Amount is more than the Accrued Amount, the Billed Amount for the
following Due Date will be decreased by the amount of the discrepancy.

Regardless of any such discrepancy, interest will continue to accrue based on the actual
amount of principal outstanding without compounding. The Bank will not pay the Borrower
interest on any overpayment.

4.2 Direct Debit with ACH Debit.

	(a)	 	The Borrower agrees that on the Due Date the Bank will debit the deposit account with the
Depository listed below (the “Designated Account”) owned by the Borrower. A voided copy of a
check on the Designated Account has been, or will be, provided to the Bank.

DEPOSITORY NAME: Charter One Bank

City, State and Zip Code: Southfield, MI, 48034

Routing Number: 241070417

Deposit Account Number: 45155-52189

	(b)	 	Debits made by ACH shall be subject to the operating rules of the National Automated Clearing
House Association, as in effect from time to time.

	(c)	 	The Borrower may terminate this direct debit arrangement at any time by sending written
notice to the Bank.

4.3 Banking Day. Unless otherwise provided in this Agreement, a banking day is a day other than a
Saturday, Sunday or other day on which commercial banks are authorized to close, or are in fact
closed, in the state where the Bank’s lending office is located, and, if such day relates to
amounts bearing interest at an offshore rate (if any), means any such day on which dealings in
dollar deposits are conducted among banks in the offshore dollar interbank market. All payments and
disbursements which would be due on a day which is not a banking day will be due on the next
banking day. All payments received on a day which is not a banking day will be applied to the
credit on the next banking day.

4.4 Interest Calculation. Except as otherwise stated in this Agreement, all interest and fees, if
any, will be computed on the basis of a 360-day year and the actual number of days elapsed. This
results in more interest or a higher fee than if a 365-day year is used. Installments of principal
which are not paid when due under this Agreement shall continue to bear interest until paid.

Ref# 1000367221 — MCA Enterprises Brandon Inc.

Bridge Loan Agreement

 

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4.5 Default Rate. Upon the occurrence of any default or after maturity or after judgment has been
rendered on any obligation under this Agreement, all amounts outstanding under this Agreement,
including any interest, fees, or costs which are not paid when due, will at the option of the Bank
bear interest at a rate which is 6.0 percentage point(s) higher than the rate of interest otherwise
provided under this Agreement. This may result in compounding of interest. This will not constitute
a waiver of any default.

5. CONDITIONS TO DISBURSEMENT

Before the Bank is required to extend any credit to the Borrower under this Agreement, it must
receive any documents and other items it may reasonably require, in form and content acceptable to
the Bank, including any items specifically listed below.

5.1 The Real Estate Loan Agreement. The Real Estate Loan Agreement, duly executed by all parties
thereto.

5.2 Guaranties. Guaranties signed by AMC Wings, Inc. (“AMC Wings, Inc.”), Diversified Restaurant
Holdings, Inc. (“Diversified Restaurant Holdings, Inc. “), Thomas M. Ansley, (“Thomas M. Ansley”)
and AMC Group, Inc. (“AMC Group, Inc.”).

5.3 Real Estate Security Instrument. Signed and acknowledged original Real Estate Security
Instrument encumbering the Property.

5.4 Title Insurance. An ALTA lender’s title insurance policy from a title company acceptable to the
Bank, for at least Nine Hundred Twenty Thousand and 00/100 Dollars ($920,000.00), insuring the
Bank’s interest in the Property, with only such exceptions as may be approved by the Bank and
together with such endorsements as the Bank may require.

5.5 SBA Loan Authorization. A copy of the SBA Loan Authorization, duly executed by all parties
thereto.

5.6 Payment of Fees. Payment of all fees, expenses and other amounts due and owing to the Bank. If
any fee is not paid in cash, the Bank may, in its discretion, treat the fee as a principal advance
under this Agreement or deduct the fee from the Bridge Loan proceeds.

5.7 Real Estate Loan Conditions. Satisfaction of all conditions for disbursement of the Real Estate
Loan, as set forth in the Real Estate Loan Agreement. The Bank may make disbursements of the Real
Estate Loan and the Bridge Loan in such order as the Bank may elect in its sole discretion.

6. REPRESENTATIONS AND WARRANTIES

The Borrower promises that each representation and warranty set forth in the Real Estate Loan
Agreement is true, accurate and correct as of the date of this Agreement. Each request for
disbursement of the Bridge Loan will be deemed to be a reaffirmation of each and every
representation and warranty made by the Borrower under the Real Estate Loan Agreement.

7. COVENANTS OF BORROWER

The Borrower agrees, so long as credit is available under this Agreement and until the Bank is
repaid in full:

7.1 Use of Proceeds; Compliance with SBA Loan Authorization. To use the Bridge Loan proceeds, in
combination with the Real Estate Loan, for the purpose of financing the acquisition of the
Property, as specifically authorized by, and in compliance with, the SBA Loan Authorization and the
applicable SBA rules and regulations.

7.2 Compliance with Real Estate Loan Agreement. To comply with each of the covenants set forth in
the Covenants section of the Real Estate Loan Agreement.

Ref# 1000367221 — MCA Enterprises Brandon Inc.

Bridge Loan Agreement

 

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8. DEFAULT AND REMEDIES

8.1 Events of Default. The Borrower will be in default under this Agreement upon the occurrence of
any one or more of the following events of default:

	(a)	 	Failure to Pay. The Borrower fails to make a payment under this Agreement when due.

	(b)	 	Default under Real Estate Loan Agreement. Any default occurs under and as defined in
the Real Estate Loan Agreement.

8.2 Remedies. If any of the events of default set forth above occurs, the Bank may do one or more
of the following without prior notice: declare the Borrower in default, stop making any additional
credit available to the Borrower, and require the Borrower to repay its entire debt immediately. If
an event which, with notice or the passage of time, will constitute an event of default has
occurred and is continuing, the Bank has no obligation to make disbursements of Bridge Loan funds
under this Agreement. In addition, if any event of default occurs, the Bank shall have all rights,
powers and remedies available under any instruments and agreements required by or executed in
connection with this Agreement, including, without limitation, the Real Estate Loan Agreement, as
well as all rights and remedies available at law or in equity. If an event of default occurs under
the paragraph entitled “Bankruptcy” in the Real Estate Loan Agreement with respect to the Borrower,
then the entire debt outstanding under this Agreement will automatically be due immediately.

9. ENFORCING THIS AGREEMENT; MISCELLANEOUS

9.1 GAAP. Except, as otherwise stated in this Agreement, all financial information provided to the
Bank and all financial covenants will be made under generally accepted accounting principles,
consistently applied or another basis acceptable to the Bank.

9.2 Governing Law. This Agreement is governed by Florida law.

9.3 Successors and Assigns. This Agreement is binding on the Borrower’s and the Bank’s successors
and assignees. The Borrower agrees that it may not assign this Agreement without the Bank’s prior
consent.

9.4 Dispute Resolution Provision. This paragraph, including the subparagraphs below, is referred to
as the “Dispute Resolution Provision.” This Dispute Resolution Provision is a material inducement
for the parties entering into this Agreement.

	(a)	 	This Dispute Resolution Provision concerns the resolution of any controversies or claims
between the parties, whether arising in contract, tort or by statute, including but not
limited to controversies or claims that arise out of or relate to: (i) this agreement
(including any renewals, extensions or modifications); or (ii) any document related to this
agreement (collectively a “Claim”). For the purposes of this Dispute Resolution Provision
only, the term “parties” shall include any parent corporation, subsidiary or affiliate of the
Bank involved in the servicing, management or administration of any obligation described or
evidenced by this agreement.

	(b)	 	At the request of any party to this agreement, any Claim shall be resolved by binding
arbitration in accordance with the Federal Arbitration Act (Title 9, U.S. Code) (the “Act”).
The Act will apply even though this agreement provides that it is governed by the law of a
specified state.

	(c)	 	Arbitration proceedings will be determined in accordance with the Act, the then-current rules
and procedures for the arbitration of financial services disputes of the American Arbitration
Association or any successor thereof (“AAA”), and the terms of this Dispute Resolution
Provision. In the event of any inconsistency, the terms of this Dispute Resolution Provision
shall control. If AAA is unwilling or unable to (i) serve as the provider of arbitration or
(ii) enforce any provision of this arbitration clause, the Bank may designate another
arbitration organization with similar procedures to serve as the provider of arbitration.

Ref# 1000367221 — MCA Enterprises Brandon Inc.

Bridge Loan Agreement

 

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	(d)	 	The arbitration shall be administered by AAA and conducted, unless otherwise required by law,
in any U.S. state where real or tangible personal property collateral for this credit is
located or if there is no such collateral, in the state specified in the governing law section
of this agreement. All Claims shall be determined by one arbitrator; however, if Claims exceed
Five Million Dollars ($5,000,000), upon the request of any party, the Claims shall be decided
by three arbitrators. All arbitration hearings shall commence within ninety (90) days of the
demand for arbitration and close within ninety (90) days of commencement and the award of the
arbitrator(s) shall be issued within thirty (30) days of the close of the hearing. However,
the arbitrator(s), upon a showing of good cause, may extend the commencement of the hearing
for up to an additional sixty (60) days. The arbitrator(s) shall provide a concise, written
statement of reasons for the award. The arbitration award may be submitted to any court having
jurisdiction to be confirmed and have judgment entered and enforced.

	(e)	 	The arbitrator(s) will give effect to statutes of limitation in determining any Claim and may
dismiss the arbitration on the basis that the Claim is barred. For purposes of the application
of any statutes of limitation. the service on AAA under applicable AAA rules of a notice of
Claim is the equivalent of the filing of a lawsuit. Any dispute concerning this arbitration
provision or whether a Claim is arbitrable shall be determined by the arbitrator(s), except as
set forth at subparagraph (h) of this Dispute Resolution Provision. The arbitrator(s) shall
have the power to award legal fees pursuant to the terms of this agreement.

	(f)	 	This paragraph does not limit the right of any party to: (i) exercise self-help remedies,
such as but not limited to, setoff; (ii) initiate judicial or non-judicial foreclosure against
any real or personal property collateral; (iii) exercise any judicial or power of sale rights,
or (iv) act in a court of law to obtain an interim remedy, such as but not limited to,
injunctive relief, writ of possession or appointment of a receiver, or additional or
supplementary remedies.

	(g)	 	The filing of a court action is not intended to constitute a waiver of the right of any
party, including the suing party, thereafter to require submittal of the Claim to arbitration.

	(h)	 	Any arbitration or trial by a judge of any Claim will take place on an individual basis
without resort to any form of class or representative action (the “Class Action Waiver”).
Regardless of anything else in this Dispute Resolution Provision, the validity and effect of
the Class Action Waiver may be determined only by a court and not by an arbitrator. The
parties to this Agreement acknowledge that the Class Action Waiver is material and essential
to the arbitration of any disputes between the parties and is nonseverable from the agreement
to arbitrate Claims. If the Class Action Waiver is limited, voided or found unenforceable,
then the parties’ agreement to arbitrate shall be null and void with respect to such
proceeding, subject to the right to appeal the limitation or invalidation of the Class Action
Waiver. The Parties acknowledge and agree that under no circumstances will a class action be
arbitrated.

	(i)	 	By agreeing to binding arbitration, the parties irrevocably and voluntarily waive any right
they may have to a trial by jury in respect of any Claim. Furthermore, without intending in
any way to limit this agreement to arbitrate, to the extent any Claim is not arbitrated, the
parties irrevocably and voluntarily waive any right they may have to a trial by jury in
respect of such Claim. This waiver of jury trial shall remain in effect even if the Class
Action Waiver is limited, voided or found unenforceable. WHETHER THE CLAIM IS DECIDED BY
ARBITRATION OR BY TRIAL BY A JUDGE, THE PARTIES AGREE AND UNDERSTAND THAT THE EFFECT OF THIS
AGREEMENT IS THAT THEY ARE GIVING UP THE RIGHT TO TRIAL BY JURY TO THE EXTENT PERMITTED BY
LAW.

9.5 Severability; Waivers. If any part of this Agreement is not enforceable, the rest of the
Agreement may be enforced. The Bank retains all rights, even if it makes a loan after default. If
the Bank waives a default, it may enforce a later default. Any consent or waiver under this
Agreement must be in writing.

9.6 Attorneys’ Fees. The Borrower shall reimburse the Bank for any reasonable costs and attorneys’
fees incurred by the Bank in connection with the enforcement or preservation of any rights or
remedies under this Agreement and any other documents executed in connection with this Agreement,
and in connection with any amendment, waiver, “workout” or restructuring under this Agreement. In
the event of a lawsuit or arbitration
proceeding, the prevailing party is entitled to recover costs and reasonable attorneys’ fees
incurred in connection with the lawsuit or arbitration proceeding, as determined by the court or
arbitrator. In the event that any case is commenced by or against the Borrower under the Bankruptcy
Code (Title 11, United States Code) or any similar or successor statute, the Bank is entitled to
recover costs and reasonable attorneys’ fees incurred by the Bank related to the preservation,
protection, or enforcement of any rights of the Bank in such a case. To the extent permitted by
law, as used in this paragraph, “attorneys’ fees” includes the allocated costs of the Bank’s
in-house counsel.

Ref# 1000367221 — MCA Enterprises Brandon Inc.

Bridge Loan Agreement

 

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9.7 Individual Liability. If any Borrower is a natural person, the Bank may proceed against the
Borrower’s business and non-business property in enforcing this and other agreements relating to
this loan. If the Borrower is a partnership, the Bank may proceed against the business and
non-business property of each general partner of the Borrower in enforcing this and other
agreements relating to this loan.

9.8 Joint and Several Liability. If two or more Borrowers sign this Agreement, each Borrower agrees
that it is jointly and severally liable to the Bank for the payment of all obligations arising
under this Agreement, and that such liability is independent of the obligations of the other
Borrowers.

9.9 Set-Off.

	(a)	 	In addition to any rights and remedies of the Bank provided by law, upon the occurrence and
during the continuance of any event of default under this Agreement, the Bank is authorized,
at any time, to set off and apply any and all Deposits of the Borrower or any Obligor held by
the Bank against any and all Obligations owing to the Bank. The set-off may be made
irrespective of whether or not the Bank shall have made demand under this Agreement or any
guaranty, and although such Obligations may be contingent or unmatured or denominated in a
currency different from that of the applicable Deposits.

	(b)	 	The set-off may be made without prior notice to the Borrower or any other party, any such
notice being waived by the Borrower (on its own behalf and on behalf of each Obligor) to the
fullest extent permitted by law. The Bank agrees promptly to notify the Borrower after any
such set-off and application; provided, however, that the failure to give such
notice shall not affect the validity of such set-off and application.

	(c)	 	For the purposes of this paragraph, “Deposits” means any deposits (general or special, time
or demand, provisional or final, individual or joint) and any instruments owned by the
Borrower or any Obligor which come into the possession or custody or under the control of the
Bank. “Obligations” means all obligations, now or hereafter existing, of the Borrower to the
Bank under this Agreement and under any other agreement or instrument executed in connection
with this Agreement, and the obligations to the Bank of any Obligor.

9.10 One Agreement. This Agreement and any related security or other agreements required by this
Agreement, collectively:

	(a)	 	represent the sum of the understandings and agreements between the Bank and the Borrower
concerning this credit;

	(b)	 	replace any prior oral or written agreements between the Bank and the Borrower concerning
this credit; and

	(c)	 	are intended by the Bank and the Borrower as the final, complete and exclusive statement of
the terms agreed to by them.

In the event of any conflict between this Agreement and any other agreements required by this
Agreement, this Agreement will prevail.

9.11 Conflict with SBA Loan Authorization. In the event of any conflict between the terms of this
Agreement or any related agreements required by this Agreement and those of the SBA Loan
Authorization or the applicable SBA rules and regulations, the terms, conditions, and provisions of
the SBA Loan Authorization or the SBA rules and regulations shall prevail, but only to the extent
that, at the time of determination, such terms, conditions, and
provisions of the SBA Loan authorization or the SBA rules and regulations are applicable to the
loan provided under this Agreement.

Ref# 1000367221 — MCA Enterprises Brandon Inc.

Bridge Loan Agreement

 

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9.12 Indemnification. The Borrower will indemnify and hold the Bank harmless from any loss,
liability, damages, judgments, and costs of any kind relating to or arising directly or indirectly
out of (a) this Agreement or any document required hereunder, (b) any credit extended or committed
by the Bank to the Borrower hereunder, and (c) any litigation or proceeding related to or arising
out of this Agreement, any such document, or any such credit. This indemnity includes but is not
limited to attorneys’ fees (including the allocated cost of in-house counsel). This indemnity
extends to the Bank, its parent, subsidiaries and all of their directors, officers, employees,
agents, successors, attorneys, and assigns. This indemnity will survive repayment of the Borrower’s
obligations to the Bank. All sums due to the Bank hereunder shall be obligations of the Borrower,
due and payable immediately without demand.

9.13 Notices. Unless otherwise provided in this Agreement or in another agreement between the Bank
and the Borrower, all notices required under this Agreement shall be personally delivered or sent
by first class mail, postage prepaid, or by overnight courier to the addresses on the signature
page of this Agreement, or to such other addresses as the Bank and the Borrower may specify from
time to time in writing. Notices and other communications shall be effective (i) if mailed, upon
the earlier of receipt or five (5) days after deposit in the U.S. mail, first class, postage
prepaid, or (ii) if hand-delivered, by courier or otherwise (including telegram, lettergram or
mailgram), when delivered.

9.14 Headings. Article and paragraph headings are for reference only and shall not effect the
interpretation or meaning of any provision of this Agreement.

9.15 Counterparts. This Agreement may be executed in as many Counterparts as necessary or
convenient, and by the different parties on separate counterparts each of which, when so executed,
shall be deemed an original but all such counterparts shall constitute but one and the same
agreement.

9.16 Borrower Information; Reporting to Credit Bureaus. The Borrower authorizes the Bank at any
time to verify or check any information given by the Borrower to the Bank, check the Borrower’s
credit references, verify employment, and obtain credit reports. The Borrower agrees that the Bank
shall have the right at all times to disclose and report to credit reporting agencies and credit
rating agencies such information pertaining to the Borrower and/or all guarantors as is consistent
with the Bank’s policies and practices from time to time in effect.

9.17 Limitation of Interest and Other Charges. Notwithstanding any other provision contained in
this Agreement, the Bank does not intend to charge and the Borrower shall not be required to pay
any amount of interest or other fees or charges that is in excess of the maximum permitted by
applicable law. Any payment in excess of such maximum shall be refunded to the Borrower or credited
against principal, at the option of the Bank. It is the express intent hereof that the Borrower not
pay and the Bank not receive, directly or indirectly, interest in excess of that which may be
lawfully paid under applicable law including the usury laws in force in the state of Florida.

Ref# 1000367221 — MCA Enterprises Brandon Inc.

Bridge Loan Agreement

 

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This Agreement is executed as of the date stated at the top of the first page.

	 	 	 	 	 
	 	Bank:

Bank of America, N.A.

 	 
	 	By:  	/s/ Wendy L. Strickland-Busby
 	 
	 	 	Authorized Officer 	 
	 	 	 	 
	 	Borrower:

MCA Enterprises Brandon, Inc.

 	 
	 	By:  	/s/ T. Michael Ansley
 	 
	 	 	Thomas M. Ansley, President 	 
	 	 	 
	 	By:  	     /s/ Jason Curtis
 	 
	 	 	Jason Curtis, Secretary 	 

	 	 	 
	Address where notices to the Bank are to
be sent:

	 	Address where notices to the Borrower are to
be sent:
	 
	 	 
	Bank of America, N.A.

	 	MCA Enterprises Brandon, Inc.
	Doc Retention — GCF

	 	21751 W 11 Mile Rd. Ste 208 
	CT2-515-BB-03

	 	Southfield, MI 48076-0000 
	70 Batterson Park Road
	 	 
	Farmington, CT 06032
	 	 

Ref# 1000367221 — MCA Enterprises Brandon Inc.

Bridge Loan Agreement

 

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Federal law requires Bank of America, N.A. (the “Bank”) to provide the following notice. The notice
is not part of the foregoing agreement or instrument and may not be altered. Please read the notice
carefully.

(1) USA PATRIOT ACT NOTICE

Federal law requires all financial institutions to obtain, verify and record information that
identifies each person who opens an account or obtains a loan. The Bank will ask for the Borrower’s
legal name, address, tax ID number or social security number and other identifying information. The
Bank may also ask for additional information or documentation or take other actions reasonably
necessary to verify the identity of the Borrower, guarantors or other related persons.

Ref# 1000367221 — MCA Enterprises Brandon Inc.

Bridge Loan Agreement

 

-10-Exhibit 10.3

Exhibit 10.3

PROMISSORY NOTE

			
	 	 	 
	$245,754.00
	 	June 23, 2010

Green Bay, Wisconsin

FOR VALUE RECEIVED, the undersigned, MCA Enterprises Brandon, Inc., a Michigan corporation
(the “Borrower”), promises to pay to the order of Florida Wings Group, LLC, a Wisconsin limited
liability company (“Lender”), at such place as Lender may from time to time direct, the principal
sum of Two Hundred Forty Five Thousand Seven Hundred Fifty Four Dollars ($245,754.00).

1. Interest Rate. Interest shall accrue on the unpaid principal balance throughout the
term of this Note at a rate of seven percent (7.0%) per annum. Interest shall be computed on the
basis of actual number of days elapsed on a year of three hundred sixty five (365) days.

2. Payments. Principal and interest shall be payable in thirty-six (36) monthly
installments of Two Thousand Two Hundred Eight and 91/100 Dollars ($2,208.91), based on a principal
amortization period of fifteen (15) years. Monthly payments of principal and interest shall
commence on [August] 1, 2010 and continue on or before the first day of each month thereafter
during the three (3) year term of this Note. A final payment equal to all unpaid principal and/or
accrued interest (if any) outstanding thereon shall be due and payable on [August] 1, 2013. All
payments under this Note shall be applied first to the payment of interest due and then to the
principal. All payments of principal and interest due hereunder shall be paid to Florida Wings
Group, LLC, c/o Commercial Horizons, Inc., Attn: Paul A. Klister, at the following address: P.O.
Box 11237, Green Bay, Wisconsin 54307-1237.

3. Prepayment. This Note may be prepaid in full or in part at any time without premium
or penalty, provided that such prepayment must be accompanied by any unpaid and accrued interest.

4. Covenants. Nothing contained herein nor any transaction related hereto shall be
construed or shall so operate either presently or prospectively to (a) require the payment of
interest at a rate greater than is now lawful in such case to contract for, but shall require
payment of interest only to the extent of such lawful rate, or (b) require the payment or the doing
of any act contrary to law; but if any clause or provision herein contained shall otherwise so
operate to invalidate this Note and/or the transaction related hereto, in whole or in part. then
such clause(s) and provision(s) only shall be struck and deemed as though not contained herein and
the remainder of this Note shall remain operative and in full force and effect.

5. Events of Default. Any of the following events shall be deemed an “Event of
Default”:

(a) Any amount of principal of, or interest on, the Note, or any other amount owing hereunder,
remains unpaid for more than five (5) days after the due date for such payment; or

(b) Borrower (i) generally does not, or is unable to or admits in writing, its inability to,
pay its debts as such debts become due; or (ii) makes an assignment for the benefit of creditors,
petitions or applies to any tribunal for the appointment of a custodian, receiver, or trustee for
it or a substantial part of its assets; or (iii) commences any proceeding under any bankruptcy,
reorganization, arrangement, readjustment of debt, dissolution, or liquidation law or statute of
any jurisdiction, whether now or hereafter in effect; or (iv) has any such petition or application
filed or any such proceeding commenced against it in which an order for relief is entered or
adjudication or appointment is made and which remains un-dismissed for a period of 60 days or more;
or (v) by any act or omission indicates its consent to, approval of or acquiescence in any such
petition, application, or proceeding, or order for relief, or the appointment of a custodian,
receiver, or trustee for all or any substantial part of its properties; or (vi)
suffers any such custodianship, receivership, or trusteeship to continue un-discharged for a
period of thirty (30) days or more; or

 

 

 

(c) One or more judgments, decrees, or orders for the payment of money are rendered against
Borrower, and such judgments, decrees, or orders continue unsatisfied and in effect for a period of
fifteen (15) consecutive days without being vacated, discharged, satisfied, or stayed or bonded
pending appeal.

6. Lender’s Rights. Upon the occurrence of an Event of Default, Lender may, at its
option, take such actions as are permitted by applicable law including, but not limited to,
declaring the entire unpaid principal balance on this Note, all accrued unpaid interest and all
other costs and expenses for which Borrower is responsible for under this Note immediately due and
payable. In addition, upon the occurrence of an Event of Default, including failure to pay upon
final maturity, Lender, at its option, may also, if permitted under applicable law, do one or both
of the following: (a) charge interest on the principal amount outstanding under this Note from and
after the date of the Event of Default below, at the Default Rate (as defined below), and (b) add
any unpaid accrued interest to principal and such sum will bear interest therefrom until paid at
the rate provided in this Note. Lender may hire an attorney to help collect this Note if Borrower
does not pay and Borrower will pay Lender’s reasonable attorneys’ fees and all other costs of
collection, unless prohibited by applicable law. This Note has been delivered to Lender and is
accepted by Lender in the State of Wisconsin. This Note shall be governed by and construed in
accordance with the laws of the State of Wisconsin without regard to any conflict of laws or
provisions thereof. For purposes of this Note, the “Default Rate” shall mean interest at the then
current prime rate (as announced by the Midwest Edition of the Wall Street Journal) plus four
percent (4.00%) (so long as such rate does not exceed the maximum rate allowable under applicable
law), calculated and accruing, from the date of the default for so long as and on such amounts as
are identified and remain outstanding.

7. Attorney Fees. Borrower agrees that if, and as often as, this Note is placed in the
hands of an attorney for collection, or to defend or enforce any of the Lender’s rights hereunder
or under any document securing this Note, whether or not litigation has commenced, the undersigned
shall pay to Lender, Lender’s reasonable attorney’s fees, together with all court costs and other
expenses incurred by Lender in connection therewith.

8. General Provisions. This Note benefits the Lender and its successors, assigns, and
representatives, and binds Borrower and Borrower’s successors and assigns. Lender may delay or
forgo enforcing any of its rights or remedies under this Note without losing them. Borrower waives
presentment, demand for payment, protest and notice of dishonor. Upon any change in the terms of
this Note, and unless otherwise expressly stated in writing, no party who signs this Note shall be
released from liability. All such parties agree that Lender may renew or extend (repeatedly and for
any length of time) this Note, or release any party or collateral; or impair, fail to realize upon
or perfect Lender’s security interest in the collateral; and take any other action deemed necessary
by Lender without the consent of or notice to anyone. All such parties also agree that Lender may
modify this Note without the consent of or notice to anyone other than the party with whom the
modification is made.

 

2

 

IN WITNESS WHEREOF, the undersigned Borrower has executed this Note as of the date first above
written.

	 	 	 	 	 
	 	MCA ENTERPRISES BRANDON, INC.

 	 
	 	By:  	/s/  T. Michael Ansley
 	 
	 	 	Its: President 	 

	 	 	 
	STATE OF MICHIGAN

	 	) 
	 

	 	) ss.
	COUNTY OF OAKLAND

	 	) 

Personally came before me, this 23rd
day of June, 2010, the above
named T. Michael Ansley, to me known to be the President of MCA Enterprises
Brandon, Inc. and the person who executed the foregoing instrument and acknowledged the same.

IN WITNESS WHEREOF, I have hereunto set my hand and official seal.

	 	 	 	 	 
	 

	 	/s/ Diana Kozar	 	 
	 

	 	 

Signature
	 	 
	 
	 	 	 	 
	 

	 	Diana Kozar	 	 
	 

	 	 

Printed Name of Notary Public
	 	 
	 

	 	My Commission expires: July 31, 2015	 	 

 

3

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