Document:

EX-4.2

 Exhibit 4.2 
  

			
	 Number *0*
	  	Shares *0*
		
		  	SEE REVERSE FOR IMPORTANT NOTICE
		  	ON TRANSFER RESTRICTIONS
		  	AND OTHER INFORMATION

  

			
	THIS CERTIFICATE IS TRANSFERABLE	  	CUSIP ___________
	IN THE CITIES OF ______________	  	

 CTO REALTY GROWTH, INC. 

a Corporation Formed Under the Laws of the State of Maryland 

THIS CERTIFIES THAT **Specimen** is the owner of **Zero (0)** fully paid and nonassessable shares of Common Stock, $0.01 par
value per share, of 
 CTO REALTY GROWTH, INC. 

(the “Corporation”) transferable on the books of the Corporation by the holder hereof in person or by its duly authorized attorney,
upon surrender of this Certificate properly endorsed. This Certificate and the shares represented hereby are issued and shall be held subject to all of the provisions of the charter of the Corporation (the “Charter”) and the Bylaws of the
Corporation and any amendments or supplements thereto. This Certificate is not valid unless countersigned and registered by the Transfer Agent and Registrar. 

IN WITNESS WHEREOF, the Corporation has caused this Certificate to be executed on its behalf by its duly authorized officers.

 DATED: __________________ 
  

					
	 Countersigned and Registered:

Transfer Agent
 and
Registrar
	  		  	 ____________________________________(SEAL)

President

			
	 By: ______________________________________
	  		  	 ________________________________________

	 Authorized Signature
	  		  	 Secretary

  
 1 

 IMPORTANT NOTICE 

The Corporation will furnish to any stockholder, on request and without charge, a full statement of the information required
by Section 2-211(b) of the Corporations and Associations Article of the Annotated Code of Maryland with respect to the designations and any preferences, conversion and other rights, voting powers,
restrictions, limitations as to dividends and other distributions, qualifications, and terms and conditions of redemption of the stock of each class which the Corporation has authority to issue and, if the Corporation is authorized to issue any
preferred or special class in series, (i) the differences in the relative rights and preferences between the shares of each series to the extent set, and (ii) the authority of the Board of Directors to set such rights and preferences of
subsequent series. The foregoing summary does not purport to be complete and is subject to and qualified in its entirety by reference to the Charter, a copy of which will be sent without charge to each stockholder who so requests. Such request must
be made to the Secretary of the Corporation at its principal office. 
 The shares represented by this certificate are
subject to restrictions on Beneficial Ownership and Constructive Ownership and Transfer for the purpose, among others, of the Corporation’s qualification as a Real Estate Investment Trust (a “REIT”) under the Internal Revenue Code of
1986, as amended (the “Code”). Subject to certain further restrictions and except as expressly provided in the Corporation’s Charter, (i)(a) no Person, other than an Excepted Holder, shall Beneficially Own or Constructively Own shares
of any class or series of Capital Stock in excess of the Ownership Limit; and (b) no Excepted Holder shall Beneficially Own or Constructively Own shares of Capital Stock in excess of the Excepted Holder Limit for such Excepted Holder;
(ii) no Person shall Beneficially Own or Constructively Own shares of Capital Stock to the extent that such Beneficial Ownership or Constructive Ownership of Capital Stock would result in the Corporation being “closely held” within
the meaning of Section 856(h) of the Code (without regard to whether the ownership interest is held during the last half of a taxable year), or otherwise failing to qualify as a REIT; (iii) any Transfer of shares of Capital Stock that, if
effective, would result in the Capital Stock being beneficially owned by less than 100 Persons (determined under the principles of Section 856(a)(5) of the Code) shall be void ab initio, and the intended transferee shall acquire no
rights in such shares of Capital Stock; and (iv) no Person shall Beneficially Own or Constructively Own shares of Capital Stock to the extent that such Beneficial Ownership or Constructive Ownership would cause the Corporation to Constructively
Own ten percent (10%) or more of the ownership interests in a tenant (other than a Taxable REIT subsidiary) of the Corporation’s real property within the meaning of Section 856(d)(2)(B) of the Code. If any of the restrictions on transfer
or ownership provided in (i), (ii), or (iv) above are violated, the shares of Capital Stock in excess or in violation of the above limitations will be automatically transferred to a Trust for the exclusive benefit of a Charitable Beneficiary.
All capitalized terms in this legend have the meanings given such terms in the Charter of the Corporation, as the same may be amended from time to time, a copy of which, including the restrictions on transfer and ownership, will be furnished to each
holder of shares of Capital Stock of the Corporation on request and without charge. Requests for such a copy may be directed to the Secretary of the Corporation at its Principal Office. 

KEEP THIS CERTIFICATE IN A SAFE PLACE. IF IT IS LOST, STOLEN OR DESTROYED, 

THE CORPORATION MAY REQUIRE A BOND OF INDEMNITY AS A CONDITION TO THE 

ISSUANCE OF A REPLACEMENT CERTIFICATE. 

The following abbreviations, when used in the inscription on the face of this Certificate, shall be construed as though they
were written out in full according to applicable laws or regulations: 
 TEN COM - as tenants in common
                                    UNIF GIFT MIN ACT
____________Custodian _________ 
 TEN ENT  - as tenants by the
entireties                                        
                              
(Custodian)                     (Minor) 

JT TEN      - as joint tenants with right
of                            Under the Uniform Gifts to Minors Act of _______________ 

  survivorship and not as tenants in
common                                        
                                        (State)

 FOR VALUE RECEIVED, ________________HEREBY SELLS, ASSIGNS AND TRANSFERS UNTO 

 
  

(NAME & ADDRESS, INCLUDING ZIP CODE & SS# OR OTHER IDENTIFYING # OF ASSIGNEE) 

  
 2 

 ______________________________________(________________) shares of stock of the Corporation
represented by this Certificate and does hereby irrevocably constitute and appoint ___________________________________ attorney to transfer the said shares on the books of the Corporation, with full power of substitution in the premises. 

Dated: _______________________ 
  

	
	  

	 NOTICE: THE SIGNATURE TO THIS ASSIGNMENT MUST CORRESPOND WITH THE NAME AS WRITTEN UPON THE FACE OF THE CERTIFICATE IN EVERY
PARTICULAR, WITHOUT ALTERATION OR ENLARGEMENT OR ANY OTHER CHANGE.

  
 3EX-4.3

 Exhibit 4.3 

CTO REALTY GROWTH, INC. 

(formerly known as Consolidated-Tomoka Land Co.) 

(Company) 
 CTO NEWCO
REIT, INC. 
 (to be renamed CTO Realty Growth, Inc,) 

(Successor) 
 U.S. BANK
NATIONAL ASSOCIATION 
 (Trustee) 
  

 
 Supplemental
Indenture No. 1 
 Dated as of January 29, 2021 

 

 SUPPLEMENTAL INDENTURE No. 1, dated as of
January 29, 2021, among CTO Realty Growth, Inc. (formerly known as Consolidated-Tomoka Land Co.), a Florida Corporation (the “Company”), CTO NEWCO REIT, Inc., a Maryland corporation, which will be renamed as of
the date hereof and immediately following the effectiveness hereof to CTO Realty Growth, Inc. (the “Successor”), and U.S. Bank National Association, a national banking association having a corporate trust office at 225 Water
Street, Jacksonville, Florida 32202, as trustee, (the “Trustee”), under the Indenture dated as of February 3, 2020 (the “Indenture”), this Supplemental Indenture No. 1 being supplemental
thereto. 
 Recitals of the Company and the Successor 

WHEREAS, the Indenture was authorized, executed and delivered by the Company to provide for the issuance of the Company’s
3.875% Convertible Senior Notes due 2025 (the “Notes”) by the Company; 
 WHEREAS, on
August 26, 2020, the Board of Directors of the Company approved an Agreement and Plan of Merger, dated as of September 3, 2020, by and between the Company and the Successor pursuant to which the Company will merge with and into the
Successor, with Successor as the surviving corporation as of the date hereof (the “Merger”); 

WHEREAS, immediately following the Merger and the effectiveness hereof, the Successor will change its name to CTO Realty
Growth, Inc.; 
 WHEREAS, Section 9.01 of the Indenture provides, among other things, that the Company shall not merge
with or into, another Person (such term and all other capitalized terms used herein without definition having the meanings assigned to them in the Indenture), unless the Successor Company expressly assumes, by supplemental indenture, executed and
delivered to the Trustee, in form satisfactory to the Trustee, all of the obligations of the Company under the Notes and the Indenture; 

WHEREAS, Section 8.01(b) of the Indenture provides that, without the consent of any Holder, the Company (when authorized
by a Board Resolution) and the Trustee, at any time and from time to time, may enter into one or more supplemental indentures, in form satisfactory to the Trustee, to evidence the succession by a Successor Company and to provide for the assumption
by a Successor Company of the Company’s obligations under the Notes and the Indenture; 
 WHEREAS, the Company has
heretofore delivered or is delivering contemporaneously herewith to the Trustee an Officer’s Certificate and an Opinion of Counsel, in each case described in Section 9.03 of the Indenture; 

WHEREAS, each of the Company and the Successor has duly authorized the execution and delivery of this Supplemental Indenture
No. 1 to provide for the assumption by the Successor of all of the Company’s obligations under the Indenture; and has duly authorized the assumption of the Notes outstanding under the Indenture by the Successor; and all acts necessary to
make this Supplemental Indenture No. 1 a valid agreement of the Company and the Successor, and to make the Indenture and the Notes valid obligations of the Successor, have been performed. 

 NOW, THEREFORE, THIS SUPPLEMENTAL INDENTURE NO. 1 WITNESSETH, that, for good
and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, it is mutually covenanted and agreed as follows: 

ARTICLE ONE 
 Agreement
to Assume Obligations 
 Section 1. Immediately upon the consummation of the Merger: 

(A) pursuant to Section 9.02 of the Indenture, Successor hereby assumes from the Company the due and
punctual payment of all amounts (including legal fees and expenses) owing to or to be paid to the Trustee and Conversion Agent, the due and punctual payment of the principal of and premium (including any Fundamental Change Purchase Price), if any,
and accrued and unpaid interest, if any, on all of the Notes, the due and punctual payment or delivery of any Settlement Amount due upon conversion of the Notes and the due and punctual performance of all of the covenants, indemnities and conditions
of the Indenture to be performed by the Company under the Indenture; and 
 (B) the Successor hereby succeeds
to, and is substituted for, and may exercise every right and power of, the Company under this Indenture, with the same effect as if the Successor had been named therein as the party of the first part. 

ARTICLE TWO 

Miscellaneous Provisions 

Section 1. This Supplemental Indenture No. 1 is a supplement to the Indenture. As supplemented
by this Supplemental Indenture No. 1, the Indenture is in all respects ratified, approved and confirmed, and the Indenture and this Supplemental Indenture No. 1 shall together constitute one and the same instrument. 

Section 2. The recitals contained in this Supplemental Indenture No. 1 shall be taken as the
statements of the Company and the Successor, and the Trustee assumes no responsibility for their correctness and makes no representations as to the validity or sufficiency of this Supplemental Indenture No. 1. 

Section 3. This instrument may be executed in any number of counterparts, each of which so executed
shall be deemed to be an original, but all such counterparts shall together constitute but one and the same instrument. 
 [Remainder
of Page Intentionally Left Blank Signature Page Follows] 

  
 3 

 IN WITNESS WHEREOF, the parties hereto have caused this Supplemental
Indenture No. 1 to be duly executed as of the day and year first written above. 
  

			
	 CTO REALTY GROWTH, INC.

		
	 By:
	 	 /s/ John P. Albright

	 Name:
	 	 John P. Albright

	 Title:
	 	 President, CEO

	
	 CTO NEWCO REIT, INC.

		
	 By:
	 	 /s/ John P. Albright

	 Name:
	 	 John P. Albright

	 Title:
	 	 President, CEO

	
	 U.S. BANK NATIONAL ASSOCIATION

		
	 By:
	 	 /s/ Sheryl Lear

	 Name:
	 	 Sheryl Lear

	 Title:
	 	 Vice President

 [Signature Page to Supplemental Indenture No. 1]

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