SEC Contract Filing

Filing Date: 2016-03-02

Document Content:
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<TYPE>EX-10.1
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<FILENAME>ex10-1.htm
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Exhibit
10.1</B></FONT></P>

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<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">February
29, 2016</FONT></P>

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 <TD STYLE="width: 58%; padding-right: 5.4pt; padding-left: 0"><P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B><I><U>VIA
 OVERNIGHT DELIVERY AND E-MAIL</U></I></B></FONT></P>
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 <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">Plymouth
 Industrial OP, LP (&ldquo;<B>Borrower</B>&rdquo;)</FONT></P>
 <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">260
 Franklin Street, 19<SUP>th</SUP> Floor</FONT></P>
 <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">Boston,
 Massachusetts 02110</FONT></P>
 <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">Attention:
 Jeffrey E. Witherell</FONT></P>
 <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">E-mail:
 Jeff.witherellplymouthrei.com<B><I><U> </U></I></B></FONT></P>
 <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>&nbsp;</B></FONT></P></TD>
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<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">Re:</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Those
 certain loans (collectively, the &ldquo;<B>Loans</B>&rdquo;) in the aggregate original
 principal amount of $192,000,000.00 as evidenced by that certain Loan Agreement dated
 October&nbsp;28,&nbsp;2014, by and among Borrower, Guarantor, the Property Guarantors
 signatory thereto and Holder&rsquo;s predecessor in interest (as supplemented and modified
 by the Joinder Agreement dated November&nbsp;20,&nbsp;2014, the Reaffirmation Agreement
 dated April&nbsp;28, 2015, and the Loan Extension and Modification Agreements dated October&nbsp;28,&nbsp;2015,
 December 2, 2015 and January 28, 2016, collectively, the &ldquo;<B>Loan Agreement</B>&rdquo;),
 which Loans are also evidenced by (i) that certain Promissory Note (Tranche A), dated
 October 28, 2014, in the principal amount of $71,000,000.00 (plus any Additional Advances)
 executed by Borrower, (ii) that certain Promissory Note (Tranche B), dated October 28,
 2014, in the principal amount of $101,000,000.00 (plus any Additional Advances) executed
 by Borrower, (iii) that certain Promissory Note (Tranche C), dated October 28, 2014,
 in the principal amount of $20,000,000.00 (plus any Additional Advances) executed by
 Borrower, the foregoing (i) through (iii) referred to herein, collectively, as the &ldquo;<B>Notes</B>&rdquo;)
 which Notes are currently held by DOF IV REIT HOLDINGS, LLC, a Delaware limited liability
 company (&ldquo;<B>Holder</B>&rdquo;); initially capitalized terms used herein but not
 defined herein shall have the respective meaning ascribed thereto in the Loan Agreement.</FONT></TD></TR></TABLE>

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<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">Dear Borrower:</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 11pt">Borrower
has advised Holder that it will be unable to repay the Loans and all other Obligations on the Maturity Date</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif">,
<FONT STYLE="font-size: 11pt">February 29, 2016. This letter (this &ldquo;<B>Letter Agreement</B>&rdquo;) constitutes an agreement
pursuant to the terms and conditions hereinafter set forth,