SEC Contract Filing

Filing Date: 2023-11-14

Document Content:
<DOCUMENT>
<TYPE>EX-10.12
<SEQUENCE>12
<FILENAME>f10q0923ex10-12_halloffame.htm
<DESCRIPTION>THIRD AMENDMENT TO LOAN DOCUMENTS, DATED OCTOBER 10, 2023, BY AND AMONG HOF VILLAGE HOTEL II, LLC, AS BORROWER, STUART LICHTER, AS GUARANTOR, AND ERIEBANK, A DIVISION OF CNB BANK, A WHOLLY OWNED SUBSIDIARY OF CNB FINANCIAL CORPORATION, AS LENDER
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<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: right">E<FONT STYLE="text-transform: lowercase">xhibit
</FONT>10.12</P>

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-transform: uppercase; text-align: center">THIRD AMENDMENT
TO LOAN DOCUMENTS</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">This Third Amendment to Loan
Documents (this &ldquo;<B><I>Amendment</I></B>&rdquo;) is dated as of October 13, 2023, by and between HOF VILLAGE HOTEL II, LLC, a Delaware
limited liability company (&ldquo;<B><I>Borrower</I></B>&rdquo;), STUART LICHTER, an individual (&ldquo;<B><I>Guarantor</I></B>&rdquo;),
and ERIEBANK, a division of CNB Bank, a wholly owned subsidiary of CNB Financial Corporation, a Pennsylvania corporation, and its successors,
participants, and assigns (&ldquo;<B><I>Lender</I></B>&rdquo;).</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>A.</B> Borrower
obtained a construction loan from Lender (the &ldquo;<B><I>Loan</I></B>&rdquo;) pursuant to the terms of a Construction Loan Agreement
dated September 14, 2020 by and between Borrower and Lender (the &ldquo;<B><I>Initial Loan Agreement</I></B>&rdquo;), as modified by a
First Amendment to Loan Documents dated March 1, 2022 by and between Borrower and Lender (the &ldquo;<B><I>First Amendment</I></B>&rdquo;)
(the Initial Loan and Agreement, and the First Amendment, together with any amendments or modifications thereto, collectively the &ldquo;<B><I>Loan
Agreement</I></B>&rdquo;). The Loan is also evidenced by a Promissory Note dated September 14, 2020, in the maximum principal amount of
Fifteen Million Three Hundred Thousand and No/100 Dollars ($15,300,000.00) as modified by a First Amendment to Promissory Note dated on
or about the date hereof (together with any amendments or modifications thereto, the &ldquo;<B><I>Note</I></B>&rdquo;).</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>B.</B> Borrower&rsquo;s
obligations under the Loan Agreement and the Note are secured by an Open-End Mortgage (Fee Simple and Leasehold), Assignment of Leases
and Rents, and Security Agreement dated September 14, 2020 and recorded on September 16, 2020 in the Official Records of Stark County,
Ohio, under Instrument No. 202009160039659 (together with any amendments or modifications thereto, the &ldquo;<B><I>Security Instrument</I></B>&rdquo;)
encumbering the real property legally described therein (the &ldquo;<B><I>Property</I></B>&rdquo;).</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>C.</B> The
Loan Agreement, Note, Security Instrument, and all other documents evidencing, securing, or otherwise governing the Loan, as they may
have been amended or modified, are referred to herein collectively as the &ldquo;<B><I>Loan Documents</I></B>.&rdquo;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>D.</B> Borrower&rsquo;s
obligations under the Loan Documents are guaranteed by Guarantor pursuant to a Guaranty of Payment dated September 14, 2020 (together
with any amendments or modifications thereto, the &ldquo;<B><I>Payment Guaranty</I></B>&rdquo;). Borrower&rsquo;s obligations under the
Loan Documents with respect to construction are guaranteed by Guarantor pursuant to a Performance and Completion Guaranty dated September
14, 2020 (together with any amendments or modifications thereto, the &ldquo;<B><I>Completion Guaranty</I></B>&rdquo;). The parties to
this Agreement each acknowledge that, to the best of its knowledge as of the Date of this Amendment, all obligations of Guarantor under
the Completion Guaranty have been fulfilled and satisfied.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>E.</B> Pursuant
to that certain Second Amendment to Loan Documents Lender and Borrower agreed to extend Maturity Date to October 13, 2023, provided, however,
the Borrower has now requested and Lender has agreed, to extend the Extended Maturity Date to September 13, 2028 pursuant to the