LETTER AMENDMENT
November 25, 2025
FNLR Logistics LLC
FNLR Grocery LLC
c/o Fortress Investment Group
11611 San Vicente, 10th Floor
Los Angeles, California 90049
Ladies and Gentlemen:
Reference is made to that certain (i) Loan Agreement, dated as of September 19, 2025 (as amended as of the date hereof and as may be further amended, supplemented or otherwise modified from time to time, the “Loan Agreement”) by and among FNLR Logistics LLC, a Delaware limited liability company (“Borrower 1”), FNLR Grocery LLC, a Delaware limited liability company (“Borrower 2”; and together with Borrower 1, individually or collectively, as the context may require, “Borrower”), certain lenders from time to time party thereto (“Lenders”) and Bank of America, N.A., as administrative agent for the Lenders (“Bank of America”) and (ii) Guaranty Agreement, dated as of September 19, 2025 (as may be amended, supplemented or otherwise modified from time to time, the “Guaranty”), by FNLR OP LP, a Delaware limited partnership (“Guarantor”), for the benefit of Administrative Agent and the Lenders. Capitalized terms used but not otherwise defined herein shall have the meanings given them in the Loan Agreement. This Letter Amendment (this “Letter”) amends the Loan Agreement to the extent provided herein.
The Administrative Agent, the Lenders, Borrower, and Guarantor each hereby agree that, effective as of the date hereof, the Loan Agreement is hereby amended as follows:
““Jurupa Valley Net Lease” means that certain Lease Agreement, dated as of August 27, 2025, between FNLR Logistics LLC, a Delaware limited liability company, as landlord, and UPS Supply Chain Solutions, Inc., a Delaware corporation, as tenant, with respect to the Individual Property located in Jurupa Valley, CA.”
“3. Representations and Covenants Concerning Leases. (a) Borrower agrees that (i) Borrower will, in a commercially reasonable manner, observe and perform in all material respects all of the obligations imposed upon the landlord in the Net Leases and any other Lease entered into by Borrower (if any) and will not do or knowingly permit to be done anything to impair the security thereof in any material respect; (ii) Borrower will use its commercially reasonable efforts to enforce or secure, or cause to be enforced or secured, the performance of each and every material obligation and undertaking of the respective tenants under any such Leases and will appear in and defend, at Borrower’s sole cost and expense, any action or proceeding arising under, or in any manner connected with, such Leases; (iii) no Rents under Leases will be waived, released, discounted, set off or compromised; (iv) except as stated in the Net Leases,
