SEC Contract Filing

Filing Date: 2022-09-29

Document Content:
<DOCUMENT>
<TYPE>EX-10.2
<SEQUENCE>3
<FILENAME>ea166494ex10-2_halloffame.htm
<DESCRIPTION>PROMISSORY NOTE, DATED SEPTEMBER 27, 2022, ISSUED BY HOF VILLAGE RETAIL I, LLC AND HOF VILLAGE RETAIL II, LLC, AS BORROWERS, TO THE HUNTINGTON NATIONAL BANK, AS LENDER
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>Exhibit 10.2</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-transform: uppercase; text-align: center"><U>PROMISSORY NOTE</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 50%; text-align: left">$10,000,000.00</TD><TD STYLE="text-align: right; width: 50%">September 27, 2022</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">FOR VALUE RECEIVED <B>HOF
Village Retail I, LLC</B>, a Delaware limited liability company and <B>HOF Village Retail II, LLC</B>, a Delaware limited liability company
(collectively the &ldquo;<U>Borrower</U>&rdquo;) jointly and severally promises to pay to the order of <B>The Huntington National Bank</B>,
a national banking association, (the &ldquo;<U>Lender</U>,&rdquo; which term shall include any holder hereof) at its offices located at
with a place of business and address at 200 Public Square (CM17), Cleveland, Ohio 44114 or at such other place as the holder hereof may
designate (the &ldquo;<U>Payment Office</U>&rdquo;), Ten Million and No/100 Dollars (U.S. $10,000,000.00) or so much thereof as shall
have been advanced by the Lender, together with interest as set forth herein (the &ldquo;<U>Loan</U>&rdquo;). This Note is issued in connection
with a Loan Agreement by and between Borrower and Lender, dated on or before the date hereof (as amended, modified or renewed from time
to time, the &ldquo;<U>Loan Agreement</U>&rdquo;) and the other agreements and documents executed and/or delivered in connection therewith
or referred to therein, the terms of which are incorporated herein by reference (as amended, modified or renewed from time to time, collectively,
the &ldquo;<U>Loan Documents</U>&rdquo;), and is secured by the property (if any) described in the Loan Documents and by such other collateral
as previously may have been or may in the future be granted to the Lender to secure this Note. Capitalized terms not otherwise defined
in this Note shall have the meaning ascribed to them in the Loan Agreement.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">1. Defined Terms.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-weight: normal">As
used in this Note, the following initially capitalized terms shall have the meanings ascribed below. </FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<U>Applicable Margin</U>&rdquo;
means 3.50% per annum, until Stabilization occurs and then 2.60% per annum.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<U>Benchmark</U>&rdquo;
means, initially, the Term SOFR Reference Rate; <U>provided that</U> if a replacement of the Benchmark has occurred pursuant to Section
5, then &ldquo;Benchmark&rdquo; means the applicable Benchmark Replacement to the extent that such Benchmark Replacement has replaced
such prior benchmark rate.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<U>Benchmark Replacement</U>&rdquo;
means, with respect to any Benchmark Transition Event, the first alternative set forth in the order below that can be determined by the
Lender:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(a) Replacement
SOFR; or</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">(b) the sum of:
(i) the alternate benchmark rate and (ii) the adjustment (which may be a positive or negative value or zero), in each case, that has been
selected by the Lender as the replacement for the then-current Benchmark giving due consideration to (x) any selection or recommendation
by the Relevant Governmental Body or (y) any evolving or then-prevailing market convention for determining an alternate benchmark rate
or