EX-10.302
EX-10.302
Exhibit 10.302
EXECUTION DRAFT
PROMISSORY****NOTE
$500,000.00December 16 , 2025
*FORVALUERECEIVED,*the undersigned, LODGING*FUND REITIII*OP,****LP,**a
Delaware limited partnership ("Maker"), having an address at 1635 43rd Street South, Suite 205, Fargo, North Dakota 58103, HEREBY UNCONDITIONALLY PROMISES TO PAY to the order of *ARCADEFARGO*LLC,**a Delaware limited liability company (together with its successors and assigns, "Holder"), having an address at c/o Arcade Capital LLC, 477 Madison Avenue, 6th Floor, New York, New York 10022, the aggregate principal amount of FIVE HUNDRED THOUSAND AND NO/100 DOLLARS ($500,000.00) (the "Principal Amount"), together with accrued interest (at the applicable rate) thereon, as the same shall become due and payable in accordance with the terms hereof.
1.Definitions. For purposes of this Promissory Note (as amended, amended and restated, supplemented or otherwise modified from time to time, this "Note"), the following terms have the meanings set forth below:
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