---
schema_version: "secwatch.filing_event.v1"
accession: "0001213900-22-078745"
form_type: "8-K"
ticker: "ZDPY"
cik: "0001279620"
company_name: "Zoned Properties, Inc."
filed_at: "2022-12-09T23:59:59+00:00"
generated_at: "2026-06-21T06:40:35.491584+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.5
calibrated_materiality_score: 0.5
confidence: "high"
source: SEC EDGAR
---

# Zoned Properties subsidiary amends $4.5M loan to fixed-rate swap, commences principal payments

## Summary
- First Amendment to Loan Agreement requires Zoned Arizona to begin paying principal + interest on $4.5M MAL (multiple access loan).
- Amended and Restated Promissory Note (Swap Note): $4.5M principal, interest at prime + 0.75%, matures 10 years, payments amortized over 30 years.
- Interest rate swap transaction fixed at 7.65%, governed by ISDA Master Agreement.
- No further advances under the MAL; Zoned Arizona elected Early Amortization Election as of Dec 7, 2022.
- Company reaffirmed its Guaranty of Zoned Arizona's obligations under the amended loan.

## SEC filing metadata
- accession: 0001213900-22-078745
- form_type: 8-K
- ticker: ZDPY
- cik: 0001279620
- company_name: Zoned Properties, Inc.
- filed_at: 2022-12-09T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.5
- calibrated_materiality_score: 0.5
- confidence: high
- sec_items: 1.01, 2.03, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1279620/000121390022078745/0001213900-22-078745-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1279620/000121390022078745/ea169936-8k_zonedpro.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001213900-22-078745
- JSON: https://secwatch.observer/filing/0001213900-22-078745.json
- Plain text: https://secwatch.observer/filing/0001213900-22-078745.txt

## Key facts
- Debt Financings
  Zoned Properties, Inc. incurred loan of $4.5 million with East West Bank at prime rate plus 0.75% maturing 10 years after its effective date.
  - Instrument: loan
  - Principal: $4.5 million
  - Counterparty: East West Bank
  - Rate: prime rate plus 0.75%
  - Maturity: 10 years after its effective date
  - Event: incurrence
  source text: The Swap Note has an original principal amount of $4.5 million. The Swap Note requires Zoned Arizona to pay monthly principal and interest payments to the Bank at an interest rate equal to the prime rate plus 0.75%. The Swap Note matures 10 years after its effective date
  evidence_url: https://www.sec.gov/Archives/edgar/data/1279620/000121390022078745/0001213900-22-078745-index.htm
- Material Agreements
  Zoned Properties, Inc. entered into Acknowledgement of Amendment and Reaffirmation of Guaranty with East West Bank valued at Reaffirms Guaranty and provides consent to First Amendment and Swap Note (effective 2022-12-07).
  - Action: entry
  - Agreement: credit facility
  - Counterparty: East West Bank
  - Value: Reaffirms Guaranty and provides consent to First Amendment and Swap Note
  - Effective: 2022-12-07
  source text: On December 7, 2022, the Company executed an Acknowledgement of Amendment and Reaffirmation of Guaranty (the “Reaffirmation”) in favor of the Bank. The Reaffirmation reaffirms the Guaranty and provides the Company’s consent to the First Amendment and Swap Note.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1279620/000121390022078745/0001213900-22-078745-index.htm
- Material Agreements
  Zoned Properties, Inc. entered into Amended and Restated Promissory Note (Swap Note) with East West Bank valued at Original principal amount of $4.5 million, interest rate prime plus 0.75%, matures 10 years, amortiz (effective 2022-12-07).
  - Action: entry
  - Agreement: credit facility
  - Counterparty: East West Bank
  - Value: Original principal amount of $4.5 million, interest rate prime plus 0.75%, matures 10 years, amortiz
  - Effective: 2022-12-07
  source text: Pursuant to the terms of the Loan Agreement and First Amendment, on December 7, 2022, Zoned Arizona issued an Amended and Restated Promissory Note (the “Swap Note”) to the Bank. The Swap Note has an original principal amount of $4.5 million. The Swap Note requires Zoned Arizona to pay monthly principal and interest payments to the Bank at an interest rate equal to the prime rate plus 0.75%. The Swap Note matures 10 years after its effective date and payments are calculated based on a 30-year amortization schedule.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1279620/000121390022078745/0001213900-22-078745-index.htm
- Material Agreements
  Zoned Properties, Inc. amended First Amendment to Loan Agreement with East West Bank valued at Amendment to $4.5 million multiple access loan, electing Early Amortization Election (effective 2022-12-07).
  - Action: amendment
  - Agreement: credit facility
  - Counterparty: East West Bank
  - Value: Amendment to $4.5 million multiple access loan, electing Early Amortization Election
  - Effective: 2022-12-07
  source text: On December 7, 2022, Zoned Arizona and the Bank entered into a First Amendment to Loan Agreement (the “First Amendment”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1279620/000121390022078745/0001213900-22-078745-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.