AMREP subsidiary increases revolving credit line to $6.5M and extends maturity to 2028

AMREP CORP.

Seventh Modification Agreement raises maximum borrowing by $750k to $6.5M.
Maturity date extended to August 15, 2028.
Loan secured by mortgage on Sandoval County, New Mexico real property.
Interest rate set at Term SOFR plus 315 basis points; advances require minimum $3M liquidity.
Borrower paid a $14,375 loan fee and customary costs.

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