secwatch.observer — SEC 8-K summary
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Issuer:     Zoned Properties, Inc. (ZDPY)
CIK:        0001279620
Form:       8-K
Filed at:   2022-12-09T23:59:59+00:00
Accession:  0001213900-22-078745
Event type: debt
Sentiment:  neutral
Materiality: 0.50
Item codes: 1.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1279620/000121390022078745/0001213900-22-078745-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1279620/000121390022078745/ea169936-8k_zonedpro.htm
  HTML page:      https://secwatch.observer/filing/0001213900-22-078745

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