SEC Contract Filing

Filing Date: 2019-11-13

Document Content:
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<TYPE>EX-10.1
<SEQUENCE>4
<FILENAME>f8k110719ex10-1_sgblocks.htm
<DESCRIPTION>SECOND AMENDMENT TO LOAN AGREEMENT AND PROMISSORY NOTE DATED NOVEMBER 7, 2019 BETWEEN CPF GP 2019-1 LLC AND SG BLOCKS, INC.
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<P STYLE="margin: 0; text-align: right"><B>Exhibit 10.1</B></P>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>AMENDMENT TO LOAN AGREEMENT</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">This Second Amendment,
dated November 7, 2019 (the &ldquo;<B>Second Amendment</B>&rdquo;), to that certain Loan Agreement and Promissory Note, dated October
3, 2019, as amended on October 15, 2019 (collectively, the &ldquo;<B>Loan Agreement</B>&rdquo;) between SG Blocks, Inc. (&ldquo;<B>Lender&rsquo;)
</B> and CPF GP 2019-1 LLC (the &ldquo;<B>Borrower</B>&rdquo;), is entered into by and between the Lender and Borrower. Capitalized
terms used herein and not defined shall have the meanings set forth in the Loan Agreement.</P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; 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><I>WHEREAS</I></B>,
the Lender and Borrower desire to amend the Loan Agreement to amend the Section entitled &ldquo;Lender Advances&rdquo; as set forth
below.</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"><B><I>NOW, THEREFORE</I></B>,
in consideration of the premises, and for other good and valuable consideration, the receipt and sufficiency of which is hereby
acknowledged, the parties hereto agree to amend the Loan Agreement as follows:</P>

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

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 <TD STYLE="width: 0.5in">&nbsp;</TD>
 <TD STYLE="width: 0.5in">1.</TD>
 <TD STYLE="text-align: justify">The Section entitled &ldquo;Lender Advances&rdquo; is hereby deleted and replaced with the following:</TD></TR>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&ldquo;Lender Advances:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">Lender shall make the first Advance
in the amount of $500,000 no later than January 31, 2020.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">Lender shall advance the remaining
$250,000 no later than April 15, 2020.&rdquo;</P>

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<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">2.</TD><TD STYLE="text-align: justify">The Loan Agreement, as amended by this Second Amendment, contains the entire agreement between
the parties hereto regarding the subject matter thereof, and there are no agreements, warranties or representations which are not
set forth therein or herein. This Second Amendment may not be modified or amended except by an instrument in writing duly signed
by or on behalf of the parties hereto.</TD></TR></TABLE>

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<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">3.</TD><TD STYLE="text-align: justify">This Second Amendment shall be governed by and construed and enforced in accordance with the local
laws of the State of Delaware applicable to agreements made and to be performed entirely within the State, without regard to conflict
of laws principles.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">4.</TD><TD STYLE="text-align: justify">This Second Amendment may be executed simultaneously in any number of counterparts, each of which
shall be deemed an original but all of which together shall constitute one and the same instrument.</TD></TR></TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.