SEC Contract Filing

Filing Date: 2022-07-01

Document Content:
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<TYPE>EX-10.1
<SEQUENCE>2
<FILENAME>ex10-1.htm
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B></B></FONT><B>Exhibit
10.1</B></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>PROMISSORY
NOTE</B></FONT></P>

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<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
 <TR STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
 <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 80%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$30,000,000.00</FONT></TD>
 <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; width: 20%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Greenwich,
 Connecticut<BR>
 June 28, 2022</FONT></TD></TR>
 </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>FOR
VALUE RECEIVED, NORPOINTE, LLC</B>, a Delaware limited liability company with an address at 255 Glenville Road, Greenwich, Connecticut
06831 (&ldquo;<U>Borrower</U>&rdquo;) promises to pay to the order of BPOZ 1000 First QOZB, LLC, a Delaware limited liability company
(&ldquo;<U>Lender</U>&rdquo;), with an address at 255 Glenville Road, Greenwich, Connecticut 06831, the principal sum of THIRTY MILLION
AND 00/100 ($30,000,000.00) DOLLARS (the &ldquo;<U>Loan</U>&rdquo;), plus interest, payable at the rate provided in <U>Paragraph 1</U>
of this note (this &ldquo;<U>Note</U>&rdquo;), on an accrued interest only basis in equal monthly payments of $125,000.00 payable on
the first day of each month hereafter, together with any costs and expenses, including reasonable attorneys&rsquo; fees, incurred in
the collection of this Note or in protecting or sustaining the lien of the hereinafter-described Mortgage (as hereinafter defined) securing
this Note. Such amounts of principal, interest, fees, costs and expenses are collectively referred to in this Note as the &ldquo;<U>Entire
Note Balance</U>&rdquo;.</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">1.
<U>Interest Rate</U>. This Loan shall bear interest from the date of this Note until adjusted in accordance with the terms hereof, whether
before or after maturity, by acceleration or otherwise, at the rate of five percent (5.00%) per annum (plus any default rate which may
be in effect).</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">2.
<U>Repayment</U>. The Entire Note Balance, if not sooner paid, shall be due and payable, without notice or demand, on June 28, 2023 (the
&ldquo;<U>Maturity Date</U>&rdquo;).</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">3.
<U>Late Charge</U>. Borrower shall pay Lender a late charge of two percent (2.00%) of the principal balance of the Loan if the Entire
Note Balance is not received by Lender within ten business (10) days after the Maturity Date. This charge shall be in addition to, and
not in lieu of, any other remedy Lender may have and is in addition to any fees and charges of any agents or attorneys which Lender is
entitled to employ in an Event of Default (as hereinafter defined) hereunder, whether authorized herein or by law or at equity. Borrower
will pay this late charge within fifteen (15) days after the Maturity Date.</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">4.
<U>Default</U>. Upon the occurrence of any Event of Default, the Entire Note Balance shall, at the option of Lender, become