SEC Contract Filing

Filing Date: 2022-08-08

Document Content:
<DOCUMENT>
<TYPE>EX-10.3
<SEQUENCE>4
<FILENAME>ex_406785.htm
<DESCRIPTION>EXHIBIT 10.3
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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:right;margin:0pt;"><b>EXHIBIT 10.3</b></p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;"><b>OPEN-END MORTGAGE, ASSIGNMENT OF LEASES, </b></p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;"><b>SECURITY AGREEMENT </b><b>AND FIXTURE FILING</b></p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;"><b>AVALON HOLDINGS CORPORATION,</b></p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;"><b>MORTGAGOR,</b></p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;"><b>AND</b></p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;"><b>LAUREL CAPITAL CORPORATION</b><b>,</b></p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;"><b>MORTGAGEE</b></p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;"><b>Dated as of August 1, 2022</b></p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;"><b>and Effective as of August 5, 2022</b></p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;"><b><u>OPEN-END </u></b><b><u>MORTGAGE, ASSIGNMENT OF LEASES,</u></b></p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;"><b><u>SECURITY AGREEMENT AND FIXTURE FILING</u></b></p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;">THIS MORTGAGE SECURES FUTURE ADVANCES</p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;">(All notices to be given to Mortgagee pursuant to</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;">53 O.R.C. &#167;5301.232 shall be given as set forth in</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;">Section 9.1 of this Mortgage.)</p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;text-indent:36pt;">This Open-End Mortgage, Assignment of Leases, Security Agreement and Fixture Filing (this "<b><i>Mortgage</i></b>") dated as of August 1, 2022 and effective as of August 5, 2022 (the "<b><i>Effective Date</i></b>") by <b>AVALON HOLDINGS CORPORATION, </b>an Ohio corporation, with an address at One American Way, Warren, OH 44484 ("<b><i>Mortgagor</i></b>"), in favor of <b>LAUREL CAPITAL CORPORATION</b>, with an address at 6600 Brooktree Court, Su