HomeMy WebLinkAbout2021-06-07 SB Work Session Packet - Released SELECT BOARD MEETING
Monday, June 7, 2021
Conducted by Remote Participation*
7:00 P M
AGENDA
ITEMS FOR INDIVIDUAL CONSIDERATION
]. Request to Tnclude Pledge of License and Inventory for Liquor License Transfer of 7:OOpm
131 Massachusetts Avenue- Sainarah LLC d/b/a Vmebrook Bottle Shop
2. Request to Include Pledge of License and Inventory for Liquor License Transfer of 7:OSpm
55 Bedford Street- 55 Pearl Investment LLC d/b/a Busa Brothers Liquors
3. Select Board Worlc Session 7:lOpm
• Long-Range(20-Year) Municipal and School Capital Plan
• Discuss Need for Board and Comtriittee Training
• Discuss Select Board Committee Appointment Process
SELECT BOARD MEMBER CONCERNS AND LIAISON REPORTS
ADJOURN
l. Anticipated Adjourmllent 8:SOpm
*as per Executive Order regardmg remote participation:https://www.mass.gov/doc/open-meeting-
law-order-march-12-2020/downlo ad
Membe�s of the public can view the meeting webinar fro�n their computer or tablet by
clicking on the following link at the time of the meeting:
https://zoom.us/j/99483822541?pwd=UkcvdOZRW ExTe1V W TEZtRGxP ejZVZz09
iPhone one-tap:
+19294362866„99483822541# or+13017158592„99483822541#
Telephone:+1 301 715 8592 or+1 312 626 6799
Webinar ID: 994 8382 2541
Passcode: 875676
The next regularly scheduled meeting of the Select Board will be held by remote participation on
Monday, June 14, 2021 at 7:OOpm.
Hearivrg Assistance Devices Available on Reqz�est �` � � °���
All agenda time and the order of items af�app�ximate and ,�„/ ��,
subject to ehange. Recorded by LezMedia
AGENDA ITEM SUMMARY
LEXINGTON SELECT BOARD MEETING
AGENDA ITEM TITLE:
Request to Include Pledge of License and Inventory for Liquor License Transfer of 131
Massachusetts Avenue - Samarah LLC d/b/a Vmebrook Bottle Shop
PRESENTER: ITEM
NUMBER:
Jill Hai, Select Boasd Chair
I.1
SUMMARY:
At the May 24, 2021 meeting, the Select Board approved the transfer of the Pacicage Store Liquor
License located at 131 Massachusetts Avenue to Samarah LLC.
Samarah LLC has since submitted a request to the Board for approval to also include a Pledge of License and
Inventory w-ith the Liquor License Transfer at 131 Massachusetts Avenue- Samarah LLC d/b/a Vinebrook
Bottle Shop.
Samarah LLC was granted a$665,000 loan("Loan") from Eagle Bank to finance the purchase of the Section
15 package store at issue and that, as a condition of such Loan, Eag1e Bank has requested a Pledge of both the
liquor license and related inventory. The requested Pledge serves as collateral to secure the funds being
provided by Eagle Banlc. The Pledge ensures that the Liquor License and/or inventory will not be sold or
conveyed without the consent of Eagle Bank.
The applicant has provided the following documents to be replaced in/added to the originally approved
application:
1. Revised Pages 1-5 of Application to reflect request for Pledge of License and Inventoty
2. Revised Corporate Vote to reflect both Transfer of License and Pledge
3. Eagle Bank Promissory Note to be signed at closing
4. Pledge Agreement to be signed at closing
SUGGESTED MOTION:
Move to (approve/not approve) the inclusion of a Pledge of License and Tnventory as part of the Liquor
License Transfer at 131 Massachusetts Avenue to Samarah LLC d/b/a Vinebrook Bottle Shop.
FOLLOW UP:
Select Board Office
DATE AND APPROXIMATE TIME ON AGENDA:
6/7/2021 7:OOpm
ATTACHMENTS:
Description Type
L� Vec�p�u��,�ke�iuu�°I���R���rVecl�,�;�fr�1�o�eru��/urrvau�u9a�u��y..��,arrrcuurc�tl�u ll.�6.� ���:V�wi},r 1VII�4�u�z�pl
�arpryasli'1L�yt�cb�llz�end�s^ lf"ud��b��„�1a��'n�papa���annz;u2��y�yr��v�,� �V �;.2�.>d�aell�crt
❑ V3�a�;�.iu�r IV�sa�aqniEal
l��ca�aca�Ca✓�e�9rnu�;..aTnuuut���¢➢����:°
C41�1�IDINE & FURE'Y, LLP
CoulvsEz,aRs Ar LAw
�NE �CEACbN STREET, ��"d FLOOR �
Alexander Furey,Esq. �'�S��N' MA d�1 a�
E-Mail:afureyC,u7cansidinefurey.coin Telephorie(617) 723-7200
T�r�Ga�r����1�� �z.�-s�aa
www.considinefurey.coin
May 27, zoz�
Kim Katzenback
Executive Clerk
Select Baard
Town Office Building, 2°d Flaor
1625 Massachusetts Avenue
Lexil�gton, MA 02420
Re: Samarah LLC.'s�4pplication ta Transfer Sectian 1 S All Alcohal Package
Stare License locatec�at 131 Mass. Ave., Lexington, M14
Dear Ms. Katzenback:
As yau knaw, I represent Sarnarah LLC with respect ta its Application for a Transfer af
License far an existing �15 Package Store, All Alcohol License (currently held by Vinebroak
Bottle Shap)ta be used at 131 Mass. Ave., Lexington, Massachusetts 02421. Enclosed please
find the fallawing docurnents ta be included in the Applicatian:
1. Revised Pages 1-5 of Applicatian to reflect request far Pledge af License and Inventory
2. Revised Carparate Vote to reflect both Transfer of License and Pled�e
3. Eag1e Bank Promissory Note to be signed at clasing
4. Pledge A�;reement ta be signed at closing
The reason I am revising this Applicatian is to inform the Select Bc�ard and the ABCC
that Samarah, LLC has been granted a$665,000 loan ("Loan") fram Eagle Bank ta finance the
purchase af the Section 1 S package store at issue and that, as a candition of such Loan, Eagle
Bank has requested a Pledge of both the liquor license and related inventary, The rec�uested
PJedge serves as collateral ta secure the funds being provided by Eagle Bank. The Pledge
ensur�s that th� liquar license and/or inven�ory will not be said or conveyed without the consent
af Eagle Banlc. Eagle Bank's request for a P�edge is standard protocol for this type of business
laan.
Please let me know if yau have any questions, Thank you far yaur attention to this
matter.
Very truly yaurs,
���
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.
�
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�oa.���.... ..���
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°w �' �Alexander Furey
Enclosures
��� 7he Camman�vealth af'Massrzclrusetts
��.� " ACco�iaCic 1�evc.�Nages Cnnlral C�fn�nission
� �.�
� � �w� 95 Fourt�t Stpeety Suite 3, Chel,sea,MA 02150�235$
` ,. �"� wwrv.nruss.,�ov/a�rcc
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���������"�� AW�����/�1T��� ����1��1�������'F�.��i����
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Municipality f9.exington,MA �
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...................... .......... .._. ...... ...... .. _ .....
��.��'����a"��'�����w���°���Pl����'� � Pledge af Inventary �] Change of Class
� Transfer of License
� F'ledge of License {� Change of Category
[] Aiteration of Prernises i
[� Change of Locatian O (Jthee of 5tock � �12 C7NL�"�' ��clubpto 'rc�ti��ar,���k°°�
� Managernent/C7p�rating Agreemc�nt d & _.. .. _..... .�
Please prauide a narrative overview af the transaction(s)being applied far.On-premises applicants shauld also prcrvide a description of
��r�intended theme or��i�K�����of the business�r�aa���tl���� Attach a�iditian�l p>a���w��if r�ecessa�"..
. .., .... ....._.. ... ,
P'rt°p������e���and Pledge of Sectlon 1 S All Alcahalic�everages Package Skore License Co be us�d af same retail location at 131 Mass,Avc.,Lcxington,Mp,
�'�;��#��"D.
_, ...... .._ _ ,..__........... .... .......
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�b �.�����i� �������"���k���� �����w'��d;����
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t�M��., . �� �. �� .. � �.�, e,...m .,. .e .......� ..�_..� ...... .. ... ....... w, w� '"�
Peck� e SYore+ 4�11 AlcoYrolic E3everages �" �rrau����p �
_ ... _ � �....._,... re�d �
��k9p��uo-ro�ises 15 �" ���,5�... .,n,.. e m, �� � ......... ........._ .. ..... _. �
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:�» ���M����� �.'w'����� ���"�����k����
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_�y��.�.����Y�N@�r.,��"te71 VW{f� .
�a«�I�s����cf tl������r�����N�cc�������operatCanal contral of the prerrrises.
Current ar Seller"s Lic�nse Number �)t�tb I 9-PK-0612 FEI�1 Y��a �r�����
V � �....... .._.... ........_ ................�
� � wa. __... ._. ...... a. ...
Entity Name �a�marah�LC .. �
.. ....
. .� . . ... .µ..._w. ..,�� .�.... ...w,.
p6/1 Vinebroak Botkle Shap Manager of Recard ViNc��°�Shah
�.w� .....,., z_.., ,ee ,, e ��.. . _�� ........,. � w..
................ .... . ........_... rv.ry ....._.... .... . � ......... .... _....... ,.,...,
Street Address ���{�d Bedford 5treet,Lexington,MA 02420 �
.e.. . , � _ ._ _.. . rv.
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Phoi�e �64 474 4272 Email virensvc�'.�gmail com
�...__.............. ........ . �...�... _._ � .. . . ....... ... ,..,... ...... ,.,�,,. ,. ..�,.,. �.....,.,�_
I Add'I Phone �I/._ ... .. . ...,..
.,
�w_....p...__. ..... . .. ...... ......... ........_. .......� website ��9,�A........ ........_.. mmm. ... ... ....,,. ...... ..., .......__. ..,�I
_.., _ . _ _ . _ . . .... __ ..... , ...,. __ .......... ...�.. , e m,. _..__ _..., .. _.�. . ... .._
4. DESCRIPTIC7N I�F PR�MISES
���._...._ . .. ....� . .��.... .......... ........
�ase provide a campfetc descriptlon of the premises#a be licensed,including the number of floors,number of raams on each floor,any
outdoar areas to be included in the licensed area,and tatal square footage.If this application alters the current premises,providc the
specific ch�nges fre��n Yhe iast a�iproved description, You musl alsa submit a floor plan.
Retail store consistin of�,200 s uare feet which is cam_.rised of.1 floor.� . ___.....�..n.... . .__...__._ ...�..... .o..... _ ....�µw.�.ww� ......_.�._.....,..
��� g � q � p , � and a basement far starage.2 rnams on first floor
and 1 room in basement. Wours of aperation�n+ill be Manday to Saturday�;00 a.m.--11.00 p,m.and 5unday 10:00 a.m.
--9:Od p.m.
_. ........ m _,,, ..._. . ...w....�, .. .. �.°e.. ...... ..�... ._.__ _....._ .. ........w,..... _.....�.
Total Sq,Foot��e I3,10U � Seating Capaclty �N/A I Occupancy Nurnber �N/A �
_a._ � 1
Number of Entranccs V1 —� I IVumbcr of Exits �2 . � Number bf Floors �d ��
R . .................................. .d' � ........._ . ! �
�
APPLICATIUN FOR A TRANSFER OF LICENSE
.................. ... ........ .. . _..._ ....._ ._._ .
�� �,�,�I�f����t�N��w�R������ ��C��_���F� �������,��iM��..aG����C.��.
Trarrsferor�ntlt f�am� Vinebraok Car oration ��'�y what means is the �� .� .��� -. ..�
M _ ��, f�.
y � P � icense being �N��a�cf���� _ .... ���
_�,,,, _ ., ,
� � � " trensferred?
LGst tkye individuals and entities of the current awnership, Attach additianal pages if necessary utilizing the fnrmat below,
Name af��rir��i����l Title/Pasition Percebo�����of Ownershi�>
p _....._, _
I�`u'�NfNiam A.Busa . �President � ��OO�o _ �
u . .. , _ , .._ . e .....� ._ �_„. .., m� _ ,.., e
Name af(����r fgw,.�[ Title/Position f"�r�.��i���a��a.�af C�>�or����°���1��
__..
� . � � _� � � �
Name af��rdrrti°ega��N . Title/Position . �'���°cer�4�r�w _of Ownershp��
� ....._ .. ... � � .. .. .... .. , ..� � .
'. �, .,, m ,,,,, m _. ,.e, � ............. �., r ..�m._ � � _ e. , __..�_ �. ,.._, , . _�� �� ._.�.... ..a�.°.. � .��� �
�ame af F rir��p a�� _ _..._... TitlelPositian _ �rr��C�c� o �wrter�,� . .. �
i�u°�r�����of f�r�r�����«�� ..._.._ Title/Position ._...._� �`�r�s d�t�a���.of Owner�Pti4�a_ . .. I�
.......... . ........ ...... _._,,.. .. .......... _ . .
. ,,...... _............... ..... .... ....... . .� � ..... _ ... ...... ._. . �
�.....�������.�������,��� �����„�� ��������I� k���,����
List all individuals ar entitles that will have a direct or indirect,beneficial ar financial interest in this lic�nse(�,g.Stockholders,Officers,
Directors,LLC Managers,LLC Members,LLP Partners,Trustees etc.).Attach additional page(s)prauided,if necessary,utilizing Addendum
A.
� The individuals and titles listed in this sectian must k�e id�ntical ta those filed with the Massachusetts Secretary of State.
• 7he individuals identified in this section,as wel)as the prcrposed Manager of Recard,must comple#e a CORI Rele�ase Farm,
. Please note the following statutary requirements far Directars and LLC Managers:
C7n Premises(E.g.Restaurant/CIub/Ho#el)Directors or LLC Managers -Ak least 5b%must be US citizens;
CJff Premises(Liquar Store}Directors r�r LLC Managers -All must be 115 citizens and a majari#y must be
Massachusetfs residents,
• If yau are a Multi-Tiered Organization,please attach a flow chart identifying each corporate interest and the individual awners af
e�ch en#ity as well as the Articles of Organization for each corporate entity. �very individual nnust b�identified in Addendum A.
Name of F�rNr��6�ad�d _________.�_�e_,�._.�.___....�,._..... ��'s�d�r�tc�°al Address '�5N a�B
.. ... ,, ii�i��oi �yW iu�o
fren Shah 4�kb Bedford 5treet Lexin tan MA 02420
��...�..� _. ..���.�._�_.��������,,,,,,,, . g.: ,_ .,....µ ......m..__ M,, ,,� ,,. _�..._.... ................. ...................................... ...._..........
1 dk�ar,���r��o'f�,r.��i�fa.�r� ������,ruk�,�ay��caN���w���r�estl�� C7irectar/LLC Manager U5 Cltizen MA aesidenr
�1'���c��+r�r,Member I��>"�� (:Yes �"Na C:Yes C No (:Yes {"Na
.._ . '� .. ......... .. .. __ � f .. ... .... _ ._. . � � ... � � ..... .... ....� �.. .... .... .. .......... �
........� ddress 55N aOB
Name of Prara�k���s� �tr��stc�rrwtN�l A
..... �r
�1�vin Patel I 10 Jordyn�ane,Andaver,MA 0181�
......
��........ry .... _.._� ...ww.... �J�......._�.. ._ ....... .... ..........._. .... .. .., ...._ „, . . .......
�Ytla.�ca�r����r�"���W����r�r. m ��a�re��n1,�,r����at C)�vrrr�r�6wk.��a Director/LI,C Manager US Citizen MA Resid�nt
��la��r����r......... _. . � . �'�'��'� ,.. � C'Yes f�'No�. .� � ��...Ye� C P�r�... � � C'Yes...('No.....w�
n�.,. ._��.�
� ���� ofC'��er�cb�aw�� ResidentialAddres� S�N DQB
�_.._w. . ._ __
�a��„ , . ��u�W,���� ���y�R
�
�� 7dni Patel �� 259 WesCford Raad,Tyngsboro,MA 01879 � �.
... ._ ...._.... ..w� . ..
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��tC����r��«ar @"�a�,,ItN�aK�. .. � ._.._ _..��°�����t�,���µ�a�(>�rw��r����� Directar/LL.0 Man�ger US Citizen MA Resident
.,,e ,. _ . .e,.... _
na8�r��1��� I����u ("`Yes (.No C`Yes ("' No C+Yes ('Na
C. ... I� � � � ..... ...� � __.... _,e, �
�+'� e��"MpGE3��21t8� �7^��Bedford Street,Lexington,MA 0242Q 5�S� . D�,B y ��
� .� _... _ � �. ..., .. _ I�
_ _. .......... . ........... .....� II,.
"1�tNa��nr.i«�p���d°z^,i{���Rr ._. ... f�e sG�^y�r�;�K����if�v�vr�a r^�M�ip�.:r Directorl LLC Ma��,°����r�US Citizen MA Resident
„ .
- - _
�dd�rr�l��^r � � �. �� � � " Yes., � Ncr � � �'.Y�� f �Jc� ��
w�9� C�" °��� fi hdca (-`
APPLlCATIl�N FOR A TRANSFER C1F LICENSE
�„�"�C�I��;)�6w� �.��,w�6C"���� ���+�N�.C��.�`�I�����I� 1�"C`�"����_����r�_�w������...�.�
�lame of PriaN�����wV Ftesidentia)Address SSN ��,�{•S
__ __
� ��: � ������� �� ������ � � �� � � C� ����� �
1ltl�����a��,r,�'�a�,mokla�r�..� ��aawr��Rw�wati,.��;�c�f�"��n��r�1�dX�u C�irector!LLC Manager US Citizen MA Resident
_.
_ _.
�. . . �.... ___� �....0 Yes �*` No .� �'Y�� C" �° � �, .�Y�s �.�..�`� . l
Name of��rrr�c:��a,sf V�r%s�r��r+��tial Address SSN .. .. DQB
_
...
� ... . .... . . . N �.. _. � � �
0I19�;��wr�a�aamr6"��a��lrxa� �"a�w+�a���G��� of Ovyners,hG�� Director/LLC Manager US Crtizen MA�tesident
„
� � C"Yes C No � � C'`Yes C''�o � ('" Yes C`h!o �
p���rr�c^�a�6�r.M@�a�i�.���1 Rcrsidential Address SSN �C)E�
_.. �
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Tdtla�w��r����a���a���k�G��rk . ��acw���4�����,���C)�rp�a��s��t�°�r C�irector/LLC Manager US Cftizen MA Resident
. � ....
�. . ..� � . � � �_Yes,..�.N,�]. � � r Yes.. �No. � � ��°cs�""�IVo� �
Additianal pages attached? (` Yes (:No
�..._....._ _..... �
t��l.�b�df�l kl�a7'f��`� _
Has any individual lisfieci in questic�n 6,and a��licable attaehrnents,ever be�n convicted of a C (�'Yes f+Na �
St�te,Federal r�r Military Crime7 If yes,attach an affidavit providing tl�e details c�f any and all convictlans. _ ,.. �_. .
.... . _._._......._ . ..,,. ,.....w., .. . ... _...._.. ........... . .. ....... . . ....... .. ........
Ca�A,;...�.4��.��dk��IIV_�4;d�.,�4�C�C,71��Vwl,t��C":,V��&��!w����M!�:C,��r�;
Does any individual ar entity idenfiified in questinn 6,and applicabl�attachments, have any dir�et or indirec4,beneficial ar financral
interest in ar�y other license ta seN afcoholic k�everages? Yes [� No � �f yes,list in table below,AtYach additional pages,if
�M.rr�s:a=��^�����,utillzfng the table formaY belcrw.
e . .. _ _ _� _ ... , ... _ �.......m, ,_,,. ...,,.._,,.. , ,.e_ .. .. ...,,,. _ ... �_ ..,......... ......_�_.� _ _ .. ..� .
M1lame l.icense Type License Name Municipality
None
... . .... ...... ......... ........ ..... ...,...... �_.. ...,,,,,...... ,.,....,, . . ......,___ __......... . .......... ._.__.._ .... .._.....
. .. �_ ......... .... _. � . �,e,.,. _ .�.. .. �.�e�,,. .e
�� F���'1�'IC�I�$�.Y._�.�l.�J N.CV�����T.I�V_A.tl��.���N��LI�,9�.��.�'�,f�Ci�.S..l I�M�PWI��
Has any irrdlvidual or entity identlfied in questian C�,and applicable attachments,ever h�ld a direck ar indlrect,beneficial or financial
interest in a license ta sell alcohalic beverages,which is nnt presently held7 Yes ❑ Na [X�
If y��,list irr table k�elcrw.Attach additicrnal���a�:�r���x��if nec�ss�ry,utilizir����th�table format below.
, �. _..............e.�.a.��.........��....... ....... .........,., „ ..,,,� .. �e. .� m . �,,,,,,,, , . ..., e. .._.._..... � �_.
Name License Type License Name
............. . _. .. .. . .__._ .. w.,,._.. _..
Nane
..
� �. _ _..,...,. . ...._._ .
�
APPLICATION FC7R A 7RAN5FER C3F LICLNSE
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(��'� C'b{'��;q.��l1��t°;t:�� �Mt �t���� C)1��"�'NI�LIk��h�4`��C�"�.Gf��
_ ..... .. . ... . . . . ., ..... .... ..........
Nave any of the disclosed licenses listed�rr qu�stion 6Aor f�B ever been suspencled,revoked or cantelled?
Yes q � b�o (;�� �rtY����ist in table below.�ttach additianal pages if n�cessary,utilizing the tahlp formak belaw.
, ., ._a..� __. .__._ _ ,,.� ...,_ �,
Date of Action Name rrf Licens� City Reason for suspension,revocation r�r cancellation
. _
N//1
_ �_ .. _ .. �, ._.., _�....__ ... .,� �,,,, .._ ,„ .
�. ������"����'C"� ��"��N��"11��
En.�....�� Le �I SYructure� �
Y 9 � e e�,,. _ ._....w,, � � � mmm. . .. �..m.. .
�� /2021
tit �I.C� e.,�. . ._.. ....... Daxe af Inccrr ar�tian I��,1 _.. _�
St�te of Incorporat�ion PV4,��n���l�aa�a k(��. ....�...�. ��.� .� � .� ��. ���; Is tl7e Cr�rporatiian publicly traded? C'"Yes (+ No
� ry ' �J
,,,,,,,,,,,, ,,,,,,, ,,, „,.,, ,,, ,,,,, ,,,,, ,,,, „ ........ .,.,.,... , ,,, ,,, .,, „ ,,,.,,.. ,.,.,,..,..,..,....w.rv. ....,..... .......,. ,,,,,,,,,,,,. ........ ,,,,,,,.,,,,,,,,,, „ . ........ ........,
LJ,°,,,,,V,1.r4wV,lwf'YIY�9 �4..,.�.6?G.... ...lMb+d
Please crrmplete all fielc�s in this seetion. Please provide proof af legal aceupancy of the prerr�ises,
+ If the applicant entiky owns the premises,a deed Is req�alred,
• If leasin�ar renting the premises,a signed capy of the lease is requlred.
• IF the lease is contingent on the apprav�l of this license,and a siyned leasc is not available,a copy of the unsigned lease ar�d a letter
of(r7terrt t�a lease,signed by the npplicant and the landlord,is required,
• If the real estate�tnd businc�ss are awned by the same individuals listed in questlon 6, either individually or thrc�ugh se�arate
business enti#ies,a signed copy of a lease between the two enti#ies is reyuired.
�Please irrclicate k�y wl7at means the applicant will crccupy the premfses , ` ��
�l ra�v;�
. . ..,, ,._e ,, _...., _ ........ ........ _ �
_,...
Lar�dlard Name ��°E�s^>��c:husetts f�venue,Na�2,LLC �
... .
� ,r. � . :' . m, ....�.... . ......� .�
Landlord Phor�� �1�31�862 9700 Fx.2.11 ���� � Lane�lord Emaii �CrW¢��e�e�smr�,ce�m . �
_ . ., �, . _ .. .,. ro
l,andlord Address �����Hayden Ave.,Lexingtan,MA U2421 �
._._
Lzase B�ginning Date �4�aaMf 2C121 Rent er Mcrnth �r�,����.�5�
� �.... .... .... ................� p � „ � ......... � .......�.....�
.....,,, _
l.e�ase Ending C7ate �April 2031 � Rent per Year $68,294.7�i
.._.. . ._... � �..... „�, __ .. ........ .... � _
Will the Landlard receive revenue based dn pereentage of aleohol sales? ('Yes f: fJo
. . .... . _ ,. .. _
_ _._ _ � e .,a.
.. ....., .......... ......_._..�_ ............_... _�.
��._��N�I�Mt��4�"�d�.�..��.P�.�!���'
"C���*application contact is the person who th�IicensCng authorities shaufd con#act regarding this application.
.,,,� � m.. �. ...
�Jame: .P4lexar7d�r Furey � Phone: �Cr17 773-72bQ
� .,,,.
_ .. ,
Title; ��ttorr�ey,Ca��sidine&Furey,I.LP � Emafl; �«���.wN�����Ns;ra�wsidinefurey.com . �
4
APpLICATION �dR A TRA�JSFER OF LICENSE
�.C�. �1�����,��L �����t�����;
_.._,,... ...... . . . __
. _
A.Purchase Price for Real Estate C�/�
� ... � m„��
.. .., , ,..... .... . w........ ...._..
B.Purchase Price for Business Assets a�i(� � �
"° 7f}�t��6�
_._. _.. _. _.., m .,,_. ,.. _.. _ .
C.(7ther*i�lease specify) g��� "�ther:(i,e.Costs assaciated with l icense Transaction includin�
...
�_�......... ... ... . but not(imited ta; f�roperty price, Business Assets, Renovations
�.�.....__._.�.�,.��,,..�� .. ��
.. ._.. _.. .
D.Tatal Cost �5600,000* � �nsts,Canstruction costs, Initia Start-up cnsts, nventpry cnsts,ar
specify other costs};,,
SO_URCE.OF CASH CdNTRIBUTION.
Please�ravide dvcumentation of available funds.{E,g,gank or other Financial insCitution 5tatements,Bank Letter,etc,)
.., ......... ......... ........ ........ ........ _. ._ .. ._.... , _. ......._.. .
Nam�af Car7tribukor Amount of Cnntrihutian
., .., .___..__............ ...... . ........ . ., ....... ... __. _ ....
Eagl�Bank 5640,Qd0
*Plus cost of inventary
_.�.,.e„_ .. _ _ _ __ .... ,.._�
� ,,r�ym�,m��:nrn�ma�.�nnµ,�mm.rr�rv�:mrmnm.;m.mmwrrn...mmmmmvrrm;�,r�ny�nnmmrmmmnmm;�mnmrmma✓n�nrmm.�mm.... .....,
.N.,C'kkC"t� �f71����4d�
��)����.�:'.�'��:�'�����,���
............ .. .�...._.w . _....... .
Please��r�avi��signed��rr�ror���r�s�documentatian.
� .. ......_ _ __. _ ___.
� �s fi�me l�r�der�lic�nsee��arsuar�h
NarneF c5f I_�n�9r.r Announ; l ype af F(r�ancing ib M.G,L.�H1.1313.
Eagle Bank $665,00� Business Loan {""y�� (�' pVr�
�C"Yes f�`:�dc�
...... .. ............ ............... . _ .._, .......w�.�.���,�.��,�..�M..���.�.�
('Yes (` I�lr�
_ .. ,,,,,,, _, . ........... .... . .. ... . ....... . . ...... .. ... ...... ..... „ ..,.. . _ ......
(`Yes (` No
FIN�I"�Mf"I�I..lM���C.�I�,��'f,14'��9
Provide a detailed explanation af the form(s}and:��a�aac�:�(s)of fundin�for the cost identified abave
C��c�.l�6ankwill rovidefundin far...wurchase_���w...._.....�..w....,�.........__.��.�...................w.. ...��,.o_ .....w.�._ ...�._�. �..........�........._.o...,....._.M,..M.. ... .... .
„�.�. � g p price and inventcrry,
.... .
_ ..
�.1. M�^�.��7C�� If�l°w�DN����"�?�I�d
Please provide signed pledge dacumentatian.
Are you seeking approval far a pledge?�;Yes ('"No
Pledse indicdte what yau are seeking tb pledge(check all that a�ply) � �icense [� Stock � Inventory
. ... . .....
To whorn is the pledr�e k�einc�made? (�'`6��1��'���k
1��....... ... ._. _,..... �.. ......... ..� �,,a ....w .. . �_. ., _�o
5
��������_.�.,,������.
_ . a��_...
The Board of Dlrectors or I.I.0 Managers af �����.�.������
. ....we,_.... .. ...o. ,. a ..... ., .�.. .�.
����w���y�ik�w�;�; °
...�.�� �u�.e. .....
duly vated to apply to the Ucensing Authority af ��w�og����up�� r�� �and the
_ � � _ ���
Cltvd1'own � .. � .. �_ ....�
Cammanwealth of Massachusetts Alcohalic Beverages Cantrol CommiSsion on ��^,�rcn?z,zozi �
ca������n��ti��.
Far the following transactlons(Check all that apply):
�...'� �ara�q.����,w���«r � ChangeofLocatlon � C��y�n�enfCi�s�u.�.annu�if.s��srone�� � Chz��eCor�eorateStroacCa�rep.a,c�r�,t�r.�1
�Tra�o��z��:���CLVu.�pa���s� � �It��ratlar�afLl�earsedPrerr�ls�s �Cp��ng�ofLicea�s�1'ypeti.�.Giubrr�srmura�al CC� Ptledg�crfCoOfa��raaAi.e�iiG�ns��.s�ar.�>
�.w� CI°w�ustep�sa�h��r��s�uRr [� ChangeCorpurateName � ChangeofCategoryli,a,nuaiconoinwne,M�u1 [� M1al�nag�m�n�✓bp�r�ting�s�r��mer7t
C h��a���waf C�fGkaa.wr�" �kr�Mrgc*of awnershlp Interest � Issuancelfrantfer of StocklNew Stockholder � Ch�n�e r�F Naurs
���aVe+���c�rK�„G,�"h��Ar��r��ra [] fN�.l.�l��smbersl LLI'parCners,
Trustees) �.��the� � (� Chaarr��c�f D�A
�_..,...�.�_��..... _..��__..........
a ;. �... ...w�,.,_ �...�. .,..�,� �....,.., ....,. .., oo�...� ,.�
VO7ED:Ta authorize "✓M����shah
_,,m e, . . _._. ..
Narr�e of Person
ta si�n the applicatian submitted and to execute or►the �ntltY's behalf, any necessary papers�nd
d�all things requlred to have the applicatian granted,"
v��.... ...��......., . .��. ,� . ..
"VOTED:To appaint �����w���
���,.....�.� .....�wa�a. _���.�._.�,,� .ee.._.aa... .�... ..... .....,.,m. .. ...... . ......e. a
Narne of Llquar I.icense Manager
as its rnanager of record, and hereby grant hlm or her vuith full authority and cantrol of the
premises described in the license and autharity and contral of the conduct af all buslness
therein as the licensee itself cauld in any way have and exer�ise if it were a natural persan
residin�in the Commonwealth af Massachusetts,"
�"���w`µ.�a����r�.����r��_��►°�,��
A true evpy attest, A true copy attest,
�..����..���'�. .�.����w �...�..�.�n�.�.� ........... _.....��........ .....o.�.....�.,..,.�....
Corporate Offieer/I.LC Manager Signatur� Carporation Clerk's 5lgnatur�
Viren Shah
M�...... � ........w.... �w
(Print Narne.)......����� ���...____..... ... ... (Prfnt Name�
EAGLE BAh1K
PR(7MISSORY l'�(�TE
Laan No.
.............._.... ....
$665,000.00 Everett,Massacl�usetts
....... w....
, 2021
For value received, Samarah LLC ("Borrower"), a Massachusetts 1'u7�ited liability carnpany, witl� an
address of 83 Hartwell Ave Lexington, Massachusetts 02421, promises ta pay ta the order of Bagle Bank,
having a nlailing address of 350 Braadway, Everett, MA 02I49 ("Bank"), or such other place as tl7e I7older hereof
shall designate, the principal sum of SIX HUNDR.ED SIXTY-�'IVE THOUSAND DOLLARS AND ZERCI
CENTS ($665,000.00) togett7er witl� inter•est thereon, in arrears, fratn the date hereof until wr._.IT_ ._.M._.__„_, 202$
(the"Maturity Date")at a fixed rate ec�ual ta 4.09% per annum, payable as ta principal and i»terest in consecutive
monthly installments be�innin� _ _ mmmmµ, 2021 and continuing on the same day of each calendar manth
thereaf`ter until the Maturity Date. Each installment to ba in the arnount of� . The faregoir�g payments
are based ot1 a 7 year amortization schedule. On the MatL�rity IJate all unpaid principal, interest and ather charges
shail be due atad payable in full, ifnat saaner due hereunder.
lnterest shall b� calculateci on the basis af actual days elapsed ar�d a 360-day year. All pay�ments shall be
applieci first to accrueci interest and other charges d�ze hereunder and the balance,if any,ta principal.
The Borrower and each endorser and guarantar af this Nate agree to pay, upan demand, casts of
collection of�11 aa�7ot�r�►ts under t�his N�te irlctuding, without limitation, principal and interest, ar in co��necticrn
with the enfarcement of, at• realizatian on, any securiiy far this Nate, includi��g, without limitation, to t}ze extent
permitted by applicable law, reasot�able attorneys' fees and expenses. If any payment hereunder is not paid with'rt�
ten (10} days ofthe date when due, whetl�er c�n a stated due date ar upax� acceleratian, (i) such averdue arnount
shall thereafter bear interest until paid in full at a rate per�nnurn equal to 5% above the rate af interest otherwise
in effect from time ta time }ze7•eunder, payable an dernand, and (ii) the undersigned sl�all pay the l�alder a late
paytnent charge equal to 5% of the overdue amaunt, payable on demand. Upon the accurrence ancl during �he
contiinuance of an Event of I7efault, interest shall accrue at a rate per annum equal ta the aggregate af 5.0% plus
the rate�rovidecl for herein.
This Note shall, at the aptian of the holder, become immediately due and payable witha��t further notice
or dernand upon the accurrei7ce of any of the follawing events(each,an "Evei�t of Default°'}:
(a) Default in tl�e payrnent or performance, when due ar payable, af any Obligation by the Borrower
ar any endarser, guarantar ar surety far any Obligatirrn and such failure has not been cured with ten (10) days
after written »atice, provided that if $ank has given two sucli notices in any twelve month period ��nder this
subsection(a},then no further notice or cure period shall be pravided under t11is subsectiot� (a).
(b) Failur•e to perfarm or satisfy any ather canditian, undei�taking, agreemer�t ar covenant
hereinabove, ar in any other agreement of the Borrawer with the F3ank, stated to be perfarmed or satisf`ied by
fallowving written notice.
(c) Failure for thirty (30) days after written nntice to perforrY� or• satisfy any other candition,
��ndertaking, agreement ar covenant ta be performed ar satis�ed by it.
(d) Any statement, represeniation or warranty made or furnis}3ed naw or hereafter rnade ta the holder
by or on behalf af any tnaker, endarser or �uarantor in any writing furnished or in any supporting financial
staternet�t af the Ba�•rower in cannection witl� ai� pursuant ta this Agreement sl�all prave to be i��correct or
misleading in any material respect as of the time made ar furnished.
(e) I7efault (beyond any applicable notice and cure periad) by the Borrawer in the paytnent ar
perfarmance af any other liability, obligation, candition, undertaking, a�reement ar cc�venant, af every kind and
descriptian,af the Company or any Subsidiary ta the Bank, or default by any endarser, guarantar or surety fa�°any
abligaiion af the Company to the Bank in the payment a3•performance of its obligatian as endorser, guarantar or
surety of any abligation of the Company to the Bank.
(fj Any crther abli�;atic,n af the Borrower c�r any enc�orser, guarantar or surety far any C)bligati�n
shall be in default ar shall not 17ave bee�� paid wl�en due fallawing any applicable natice and cure period, vvhether
by acceleratian ar atherwise, or shalr be declared ta be dl►e and payable, ar shall be required to be prepaid (other
thar� by a regularly scheduled prepayrnent),p�•ior ta the stateci maturity thet�eof,
(g) I'ailure to discl�arge any attachment, levy or distraint an any praperty of the Borrower or any
endarser, gua►•antar ar surety for any Obligatio►�.
(h) Any judgtnent is issued ar rendered against the Barrower ar any endarser, guarantar ar surety far
any(Jbligation in an aanount in excess of$10,000.00.
(i) The occurrence af any of fallawing by, against or with respect to the E3orrower ar any endorser,
guararitor or surety for ar�y O�ligatia�7: Dissol�ztion,termi«atioi7 of existence, death or itrsolvzncy; or appoii7trnent
af a receiver af any praperty of substantial value; or a cammon law assignment or trust rnartgage for the bene�t
af creditors; dr the filitlg af a petition in ba�lkruptcy ar the commencement of any praceedings under any
bankruptcy or insolvency laws or any law relating to the relief af debtors, readjustmant of indebtedness,
reor�;anization, camposition or extension; provided hawever, in the case af the filing of a petition in bankr��ptcy ar
the carnmencemer�t af any such praceedings against the Borrawer, the Borrower shall have t}�irty (30) days frarrr
the date of such filing ar the cammencement af such praceedings to dismiss such praceedings �?�e���i��cl, �����c°v��;',
the death c�r legal incapacity af a guarantor shall z�at cat�stitute an Event af Default pravided that Bank sl�all have
received a guaranty frorn a replacernent guarantor satisfactory to Bank in its sole discretiara within thirty(3a}days
follawing tf�e death ar le�;at incapacity af such guarantar.
(j) There shall accur a default (after applicable notice and cure period) under any loan document
executed in cannection with the Loan.
(k) Failure by any guarantor of any af the (7bligatiay�s to pay or perfarm any liability, abligaYion,
conditian,understanding, agreement ar cravenant of every kind and descriptian, of such g�tarantor to the Bank,
(1) Fail��re by any Company/Bc�rrawer and/ar Guarantor of the Laan to deliver to the F3ank on an
annual basis financia] and current personal financial staten�ent(s) in form satisfactory to the Bank and a copy af
the tnast recently fited Federal Incon�e Tax Return(s}in th�tirrreframe stated in the L(JAN AGREEMENT,
(m) Failure by the Borrower, or any endarser, guarantar or surety for any obligation of the Cornpany
to the Sank,ta file any tax return or ta pay or remit any tax,when due.
(n) There shall accur a change in the awnership, ar cantral af the Borrawer which, in the opinian of
tt�e Bar�k, is 7naterial or signi�oant.
(a) Failure of the Barrnwer to perfarrn ar satisfy any coilditia�7, undertaking, agreement ar cave�7ant
set farth in any agreement between the Borrower and the Bank follawing any applicable natice and cure periad.
(p) The serviee upon the Bank ofa writ in whiel�the Bank is narned as trustee ofthe Campany or any
guarantor ofthe Obli�atians.
2
(q) The terr77inatic�Y7 or•revocation of ariy guarae7ty of the Obligatiorrs.
(r) The occurrence of such a change in the co►idition or affairs (frnancial ar otherwise) of the
Campany ar any �uarantor of the t�bligatians, or the accurrence af any ather event ar circumstat7ce, such that the
Bank, i�7 its sale discretion, deems that it is insecLire ar that the praspects for timely or full payment or
perfarrnance af any abligatin7l af the Campany a7• any guarantor af the Obligatians to the Bank has been or rnay
be impaired.
This 1'`lote may be prepaid in whole or in part upon thirty (3Q} days prior written natice to tl�e Bank. In
tt7e event af any prepayment of th'rs Nate, whetl�er by valuntary prepayment, acceleratian ar atherwise, the
Borrower shall, at the apticrn af the Bank, pay a prepaytnent char�e eqL►al to the product c�f: (a) the principal
amaunt prepaid and(b)the percentage set farth belaw for any prepaytme�7t njade dur'rng the indicated timeframe:
Three(3%)percei�t frnm the date 17ereofthraugh and it7cluding 2022;
Twa (2%)percent from. .2022 thrau�h and including........___w�_w�__aawwa_2Q23; and
One(1%}percent from 2023 througl7 anci including ...............................2024.
In the event any partial prepayment af this Nate is permitted, it shall be applied ta installtnents hereof in
the invers�order af rnaturity.
Any deposits or atl�er surns at at�y time c��edited by ar due from the halde�� ta any maker, endorser ar•
guarantor of this i�lote, and any securities ar ather property of any such maker, endorser ar guarantor at any time
in the possessiota af the holder may at all times be held a�7d treated as collateral for the payrnet�t af this Note and
the payment and performance af any and all ather obligations, (direct ar indirect, absc�lute or cantingent, sole,
jai7�t ar several, due c�r to became due, now existing ar t�ereafter arisin�;) af any such maker ta the l�alder.
Ftegardless c�fthe adequacy ofcallateral, the halder may apply ar set aff such deposits ar other s�ams against such
abligatians, at ai�y time ir�the case of makers but only witt� respect to matured abligatians in the case of endarsers
and guarantars.
Every maker, endarser or guarar�tar hereof hereby waives presentment, d�marld, natice and protest and all
other detnands and notices in cotmectiai� with the delivery, acceptance, performance, default or enforcement
hereaf ar of any collateral, and assents to any extensiar� or pastponement of the time of payment ar ather
inc�ulgence ��nder this Note or with respect to any cc�llateral, and to any subs�titution, exchange crr release of
collateral, or the discharge of any party p�rimarily or secondarily liable hereon. Na delay ar omissian ort the part
oftl�e tralder in exercising any right hereunder shall aperate as a waiver of such right or any ather right hereunder,
and a waiver af any such right an ac�e occasion shall y7at be ca�istrued as a bar ta ar waiver of any such right ot7
any futLire accasion,
This Note is secured by any and all callateral at any time granted to Bank to secure any obligations of any
maker l�ereof. In fhe event this Nate is sig�led by tnore than one persan, all obligatians hereunder shall be joint
and several,
The Bank may, without natice io ar consent of any person (including without limitatian Barrawer or any
guarantar}, se11, assigil, grar�t a partioipation in or crtherwise dispose af all or any portion of this Note and all ather
loan documents related tl�ereta, In caiu�ection therewith, the Ba1ak rnay disclase ta a prospective pu��chaser,
assignee, participant or transferee any information possessed by the Bank relating to this loan and the callateral
securi77g tlre laan.
Every�naker, enciarser, and�ua�•antar hereaf agrees,jc�intly and severally,to pay on demand all casts and
expenses (inc�uding legal costs and attorneys' fees) incurred ar paid by the holder in enfarcing this Note. This
3
1Vote shall t�e gaver�7ed by tl�e laws af t(xe Cc�n7�nonwealtlr af Massachusetts, a1�d shall take effect as arz instrurtt7ent
under seal,
Witness: SAMAI2AH LLC
. ._...__. _...._ .... .....__
1:��� ...........______............................_.._.... .. ....._....................______.........eese..m�.
Vi�•ez� St7�h, Mat7ager
4
1'LED►GE AGREEMENT(LIQUOR LICEN�SE)
This Pledge Agreement (Liquor License) (tliis "Agreement") is made and entered into as af tlle
day of , 2021, by SAMARAH LLC, a Massachusetts lirnited liability cam�any, with a
principal office and place of business at 131 Mass Ave.,Lexington,MA 02420("Ptedgar"},far the ber�efit
ofEAGLE BAIVK, having a mailing address af3SO Braadway, Everett, MA 02149 ("Pledgee").
12ECITALS
W�-IEREAS, Pledgee has agreed to extend a $665,000.00 term laan ta Pledgar (tl�e "Laan"), as
evidenced by (i} a certain pramissary note form Plec�gor, as maker, payable to the order of payee, in the
origi»al pri7�cipal a�naunt c�f$665,Op0.Op, dated as of the date hereaf(as it may be extended, ame��ded,
restated crr replaced fcom time to time,the"Note"}; and
WHEREAS, the Loan is further evidenced and secured by, aman� ofher things, a Laan and
5ecurity Agreerne��t between Pledgor and Pledgee dated as of the date hereof(as it �nay be a�rtended,
supple�nexated, restated or :replaced firo�n time ta tin�e, the "Laan Agareement") and various oxher
agreements, instruments and documents executed and delivered by Pledgor ta Pledgee (collectively, this
Agreetnent, the Nate, the Laan Agreement and all ather dacuments now existing ar hereafter executed in
connection with the Lc�an, as each may be amended, extended, restated or replaced fram time ta time, are
refer•i�ed to tierein as the`°Loan Docaments"); ai�d
WHEREAS, as a conditian precede��t to extendi»g the Loan arld as fu��tl�er security far Pledgar's
obligatians under the Laan I�acumertts,Pledgee requires Piecigar to pravide a first priarity lien and security
interest ita the Caliateral (as defined below);
NO`JV THEREFORE, in consideration af the faregoing ar�d for other good and valuable
ca��sideratian, the receipt and suf�ciericy af which are, by the execution iiereaf, her�by acknowledged,
Pledgor hereby covenants, represents,warra»ts, understands and agrees as follaws:
SECTION 1. PLEDGE
As ca�lateral security for the due and punctual payment and performance of any and all obligatians
a��d liabilities e�f Pledgur to Pledgee under the Nate and the ather Loan Dacutnents, wfzether naw existing
ar hereafter arising, direct or indirect, absc�lute or contingent, �rimary ar secondary, and further ineCuding
a11 costs, expe��ses and attorneys' and other professior7�1 fees ir7curr•ed by Pledg�e in cot7i7ectioi7 witl� the
enforcement af the Loan I7ocuments, including, withaut limitatian, callection of tl�e indebted�iess
evidenced by the Note{hereinafter collectively referred ta as the"Obligations"},Pledgor liereby pledges,
hypotl�ecates and assigns ta Pledgee and grants ta�'ledgee a first li�n security interest in the following:
(a) The etrtire right, title and interest of Pledgar in each at7d every alcahalic liquort�
license now awned or hereafter acquired, and each and every other or future license given
ar obtained by Pledgc�r, ar atherwise, as such licenses tnay be rei�ewed, altered, extended
or amended from time to time, inclucling, without limitaticrn, F�ll Alcohalic Bevera�es
License I'�o issued by the Tawn of Lexington Licensir�g Board ta
............ �
be ti�sed rn cannection with aperatian afa liquor store Iocated at l 31 Mass Ave,Lexin�tan,
Massachusetts{callectively,the"Liquor License"); and
(b) all general intangiE�les and rights associated with,and all proceeds of,the foregaing
_g.
(togetl�er wittr the Liquor Licerlse and other ite�t7s descrit�ed�in sLibsections(a)arld(b)bei�7g
herein callectively called the "Callateral"),
Far ar�d during the term af this AgreeYnent,Pledgar agrees that Pledgor shall nat issue aiiy security
interest of any type, nature or descriptior� in and ta ll�e License or other Collateral to any other party, it
being intended that far and during all sucl� times as any af the Obligatiar�s are autstanding, the Collateral
sl�all be subject to this Agreei��ent ot11y, and ta no other liens, claims or encLimbrances.
S�CTI(J1V 2. REPRESENTATIl7NS
Pledgar hereby represents and warrants to Pledgee as fallows:
(a) Piedgar is the sale legal and beneficial awner c�f the Collateral, and that na lieYz, charge,
i�7c�ebtedness, erlcui7�brat7ce or other security interes�exists agaiiist any of the Collateral (ott7er than under
this Agreement};
(b) �'ledgar has ful] pawer and autharity to enter inta and perform th� abligations under this
A�reement, to make the pledge and grant the liens contemplated herein, to execute and deliver this
Agreement and any ather documents executed in connection herewith,and ta incur the obligations provided
for herein, all of which have duly autharized by a11 necessary and proper carparate or other acti�n. Na
othe��cansent ar approval or the takin�af any atl7er actian in respect af the mei7�bers or rnanagers af Pledgar
ar of any public authority is required ta be abtained by Pledgor as a ccrnclition to the validity or
enforceability of't�17is AgreeYner7t o��a��y otheY�docurt�ent executed ir1 co»rlection herewitl7;
(c) the Collateral is duly and validly pledged to Pledgee in accordance with law;
(d) Pledgor wi11 defend Pledgee's right and sec�►rity interest in and to the Collateral against the
clairns and dernands of all persc,ns wl�amsaever. F'ledgor s17a11, upan the rec�uest af Pledgee froin tirne to
time, rnake, e�ecute at7d deliver any and all instruments and dacuments and take a11 such ather and itarther
actian as Pledgee may reasanably require iyx arder to perfect ar atherwise vest in Pledgee mare securely any
of the rights or interests granted ta Pledgee hereunder and c,therwise to carry out the purpose af this
A�reeynent;
(e) Pledgor wili not sell,cat7vey oi�otllerwise dispose of arry oftlle Callateral,t�or will it create,
incur ar permit to exist any pledge,nnartgage,lien,charge,encumbrance or any security interest whatsaever
with respect ta any of the Collateral e�r the praceeds thereof;
(f) no cansent or appraval or the taking of any other actian in respect af any party or of any
public authority is required as a c�ondition ta the validity ar�er�farceability af this Agreerneni; and
(g) tl�e execution, delivery and performance hereaf, and the pledge and assignment af and
granting of a security interest in the Collateral hereuncler da not contravene any law, rule or regulation or
any provisian of any judgment, decree or arder af any tribunal or af any ag�•eement ar instrument ta which
Pledgar is a party ar by which 1'ledgor or any of the Collateral is bound c�r affected or constitL�te a default
tl�ereunder.
..2µ
S�CTION 3. REGISTRATI(JiV; USE B,EFORE DEFAULT; CfJV�NANTS.
(a) Pledgee�ctii7�aloi7�at ai7y time follcrwing an Evel7t of Default may direct Pled�or to have
any afthe Collateral registered in its name,ar in the names of its naminee or naminees,with the apprapriat�
legal authority. A11 documents evidencing tl7e Liquor License shall bear a ►egend identifying the pledge of
the Liquor License and the security ir�terest cr�eated hereby.
(b) Ui�less aX�d until an Ever7t of Default shall occur aT�d cor7tir7ue beyond ar�y ap�licable cure
periad,Pledgor shall be entitled to exercise all rights and pawers under the Liquor 1.,icense as owner thereof;
pravided, hawever,t17at Pledgor shall abserve and�erforin all duties and obligations necessary c�r required
to maintain the I.,iquar I,icense in gaod standing with all appropriate municipal a��d state authorities havin�
jurisdiction thereaf.
(c) Pledgor agrees to execute and/ar deliver such ather further ar�c� additional documents and
instruments as Pledgee deems reasonably necessary ar appropriate ta further evidence and/ar perfect the
pled�e ofthe License ta Pledgee and/ar Pledgee's s��ccessars and assigns.
(d) Pled�crr agrees that it shall (i} conduc� its restaurant k�usiness in accordance with all
applicable laws, rules and regulatians, (ii) maintaia�� ir7 full force ar�d effect all suc17 licenses, perrnits and
authorizations as are required by governmental authorities in the canduct af its business, and (iii} use its
best efforts to}�rc�tect Pledgee's interest hereunder.
(e) Pledgor shall pay, vuithhuld, eollect and retnit all such taxes as are required by law when
due and payable and shall pay atl alcahalic beverage taxes and bills incurrect in the conduct of its business.
Pledgar agrees ta natify Pledgee in �vritrng, without delay, in the event that Pledgor is listed as deli��quent
on the Alcoholic Beverages Contro] Comrnission list under M.G.L. c.138, §25, and to effect its remaval
fram such list within seven(7)days after noti�cation. Failu►•e to da sa sl�all constitute an Event af Defa��lt
1-�ereut7der.
(f) Pled�;or agrees to notify Pledgee of ail cha��ges in af�cers, directars, and shareholders af
the Pledgor, all af which changes, ta the extent required by applicable 1aw, shall be duly appraved by tlYe
City af Bastan licensing baard and the Alcahalic Beverages Cantrol Commissian (callectively, the
"Licensing Autharities"). In the event afar�y such change which reguires appraval af any afthe Licensing
Authorities, any ciocuments requested by Pledgee, as appropriate, shall be furnished withoti�t delay ta
Pledgee by Pledgor.
SECTIC)N 4. DEFAULT
Any and all Obligatiaiis shall, at the aptian of Fledgee, becoi77e immediately due and payable
without natice or demand upon the occurrence and during the cantinuance of any af the following events
of default(each ar�"Event of Defaalt"):
(a) an Event af Default under the Loan Documents; or
(b) a breacl� or default by Pledgor of any of the terms and conditions hereunder wl�ich is not
cured witbin tl�irty(30)days after writte�� notice; ar
(c) if any thii•d party makes any clain� against the Callateral ar if any event occurs whicl�
threatens the value or security af the Collateral or challenges Pledgee's rights thereta ar
therein.
_3_
S�CTION 5. R�M�DI�S
If a»y Event af Default shall have occurred and retnain uncured beyond any applicable cure periad,
in addition ta any rights and remedies af a secured party under the Unifcrrm Camrnercial Code as in effect
at the time in Thc�Commonwealth af Nlassachusetts,Pledgee may,without being required to give any notice
except as hereinafter pravided, (i) exereise its rights with respect ta ihe Collateral without rasar�tr`ng or
regard tcr, otl�er cotlateral or sec��rity fpr the Obligations, (ii) cause ti�e Collateral to be transferred to
Pledgee's r�ame or to the name af its t�aminee and thereafter exercise as ta such Collateral al l the rights and
remedies pravided at law and equity,and/or(iii)apply the cash,if any,then held by it as callateral hereunder
to the payment af the C)bligations i» such manner and arder af priority as Pledgee shall determine, in its
sole discretion, and if there shall be na such cash or the casY► so applied shall be ins�►fficient ta pay in fi�ll
all such Ok�ligatiol7s, sell the Callateral, or any part thereof, at public ar private sale, for castr, upon credit
ar far future deiivery, and at such price ar prices as Pledgee may deem satisfactary, and Pleclgee may be
the�urchaser of any at�d all of t}�e Collater•al sa sold and tl�er•eafter hald t11e same,absolately, free fro�n any
right ar clairn af whatsoever kind. Plecigee is auiharized,at any such sale, if it deems it�dvisable so ta do,
to restrict the prospective bidders ar purchasers ta persons who will represent and agree that they are
purchas'rng for their awn accaunt, for investment, and not with a view to the distribution or sale of any of
the Collateral. Upan any such sale,Pledgee shall have the right ta deliver,assi�;n and transfer the Collateral
sa sold tn the purcl�aser thereof. Each purchaser at any suc�� sale shall hold ihe property sald absalutely,
free from any claim or right of any kind whatsaever,including any equity or right of redemptian,af Pledgor,
wha hereby specifically waives all rughts of redernptian, stay or appraisal wl�ich 'rt has ar may l�ave under
any rule of law ar statute now existrng or hereafter adapted. Pledgee sl�all give Plecigc�r fifteen (15) days
written natice of ir�tentian ta make any such public ar private sale or sale. At arYy such sale t}�e Collateral
may be sold in one lot as an entirety or in separate parts, as Pledgee may determine. Pledgee s�►al� nat be
obligated to ynake a�ry sale p�rrsaant to ar�y such riotice. Pledgee may witl�out 7�otice or publicatiaY�adjourn
any public or private sale ar cause the same ta be adjc���rned frc�rn time ta tirne by announcement at the time
and ptace fixed for the sale, and such sale�77ay be i77ade at any tii7�e ar place ta which the same rnay be sa
acijaurned. In case af any sale of all or any part of the Gollateral crn credit or far future delivery, the
Collateral sa soid may be retained by Pledgee until the selling price is paid by the purchaser thereaf, but
Pledgee shall nat incur any liability in case af the failure af such p��rchaser to take up and pay for the
Collateral so sold and, in case of any such failure, such Collateral tnay again be solcl upan like notice.
Ptedgee, however, instead o�'ez�ercising the power of sale herein conferred upon it, rrtay proceed by a suit
ar suits at law or in equity to forecEose this Agreement 7nd sell tl�e Cc�llater�l,or any portion tl�ereof, under
a judgtnent ar decr•ee af a caurt or caurts ofcotnpetent jurisdictian, Pled�or t7aving been given due notice
af all such actior�.
SECTICIN 6. APPLICATIC►N(JF PRt�CEEDS
The praceeds of any sale of all or any park af the Ca�lateral, and any other cash at the time held by
Piedgee under this Agreement, shall be applied by Pledgee:
(a) first, to th� payinent of the costs and expenses of such sale, ii�cludi7�g reasol�able
cc�napensation to Pledgee's agents and caunsel, and all expenses, liabilities and advances made ar incurred
by Pled�ee in connection therewith;
(b) second,to the paymellt of the CJbli�atians; and
(c) tl�ird, to the payment to PledgQr, ar Pledgor's successars or assign�, or as a caurt of
-4•�
competei7t jurisdictior7 may direct,�f any surplus th��7 re�77ai�vr�g from such pz�oceeds.
SECTION 7. ATTORNEY-IN-FACT
Plecigee is hereby appainted the attorney-in-fact for Pledgor for the purpose af carrying out the
provisic�ns ofthis Agreement atld taking any action and executing any instruments which Pledgor may deem
necessaty or advisable to accomplish the purperse hereaf, which appaintment as attarney-in-fact is
irrevacable and caupled with an rnterest. Without limiting the ger�erality of the foregoing, F'ledgee sha13
have the right and pawer to: withciraw, transfer and renew the Collateral; to execute endarsetnents,
assigr�tmer�ts, or atl�er instrume�7ts af canveyance ar tra��sfer witt� respect to any ar all of the Callateral; ta
receive, endorse and collect all checks made payable ta the arder of the Pledgor representing any
distributian in respect af the Callateral or any part t}7ereaf, and ta give full discharge of the sar�►e.
Additionally, F'ledgor hereby authorizes Pledgee ta file ane or rnare UCG finarzcing statemenis in the name
af Pledgor, as debtor,to evidence the pledge gra»ted hereby withaut a signature of Pledgor.
SECTION$. NO DUTY
�eyand tt�e exercise of reasonable care to assure the safe cti�stody of the Cailateral while held
hereunder, under no circur7�stances shall Pledgee be deemed ta assurne any res�o��sibility for ar abligatian
or duty with respect ta any part or all af the Callateral of any nature or kind ar any rrratter ar praceedings
arising out of or��elating theretcr. Pledgee shatl have no dat�y or liability to collect any suins due ir7 respecC
thereaf ar to protect ar preserve its or Pledgar's rights pertaining thereta, and shall be relieved af all
responsibility for any of tlie Collater•al upan surrendering the same ta Pledgar.
SECTION 9. NO WAIVER
No course of dealing between Pledgar and Pledgee, nor any failure on the part af Pleclgee ta
exercise, nar•any delay in exercisit�g on the part of Pledgee, any right, power or retnedy he►�eunder or with
respect to atiy of the(Jbligations shalt operate as a waiver thereaf; nor shall any single ar partial exercise
by Pledgee af any right, power ar remedy l�ereuyYder preclude airy ather or fur�her exercise thereof ar the
exercrse of any other right,pawer ar remedy. Pledgee shall not be deemed ta have waived any af its rights
with respect ta tl7e Obligatiar�s ar the Collateral, except by an express written waiver af satne(which shall
be specific in nature and in writing, and signed by Pledgee). The remedies herein pravided are cumulative
ar�d may be exercised separately or concurrently, and are nat exclusive af any remedies pravided by law.
SECTIOlV 10. TERMINATION
Upon the full and indefeasible payment and/or satisfaction af al�Obligations, all rights, remedies,
duties and covenants af Pledgar hereunder shall, subject ta the pravisians set farth below, cease. To the
extent that Pledgar ar any ather persan makes a payrrtent or payments to Pledgee with respect ta any afthe
Obligations,ar Pledgee exercises its right of setaff, and such payment c�r payments or the proceeds of such
setaff ar any part thereaf are subseyuently invalidated, declarecl to be fraudulent or preferential, set aside,
1°ecovered frorn,disgurged by or are required ta be refunded,repaid or otherwise restared to Fiedgor ar such
other person, a trustee, receiver or arxy other person under any law (including, withaut lirnitation, any
bankruptcy law, state or federal law, comman law or equitable cause of action) in each case in connection
with art7y bankruptcy or similar proceeding invalving Pledgar ar such athe�•person,then ta the extent af any
such restaration, t17e Obli�ations or part thereof ariginally intendeci to be satisfied shall be revived and
cantinued in full farce at�d effect as if such payment had not bee17 rnade ar such enfarcement ar setoff had
not acc�irred, whereupon this Agreernent sha11 be autamatically reinstatec� without any fiarther actian by
Pledgor and/ar the Pledgee and sl�all continue ta be futly applical�le tc� such Obligatians to the same extent
as though the�ayment so repaid or recovered had never been originally made an such C)bli�;ations. Pledgee
-5�
agrees to sign and deliver ta F'ledgor sucl7 docu��tents reasonably requested by Pledgor to effectuate ar
eviclence release of Pted�ee's security interest and lien in and to the License, u�on repayment in full af all
arnau��ts due under the Nate and the other Laan Dacumet7ts.
SECTIC►N 11. NOTICES
Any notice herein pravided ta be given to Pledgor by Pledgee,and any nc,tice tc�be given by Pled�or
ts�Pledgee, s11a11 be delivered as provided for in t17e Laan Agreement.
SECTION 12. COI'�STRUCTION; BIIVDING EFFECT; EXECLJTIfJ1V
This Agreement and all rights and abligations hereunder,incli�ding matters of canstructian,validity
and performar�ce, shall be gaverned by the laws of the Cnnlmoi�wealth of Massacl7usetts. This Agreei77ent
shall be binding upon and inure ta the benefit ofthe}��rties hereto and their respective{as a�plicable)heirs,
representatives,successors and assigtzs.Ar�y signature an this Agreement which is t►•ans�rritted as a facsimile
tJl" '�S � SC�11C1�C� C�OCU►T]�Clt CIC 11171�?� �Cl]C�U(�111�7 VVI��1CFUt �II711tc'Xt10Il� 111 c917�/ cc�C�f" u'���»} cc.�l�f"� `�.�111�1"s
".png", ".gif' andlor any other electronically-formatted image ancl/or document) shall be deemed a valid
and binding signature af Pledgor,with the sa�rse ef'fect as if a rnanually signed original s'r�nature of Pled�or�.
IN WI"I'NESS WHEI�,ECI�", Plec�gor has caused this Pledge Agreement to be duly executed as af
the day a�7d year first at�ove written.
WITNESS TO ALL PLEDG(7R:
SIG.,NATURES: SAMARAH LLC
........._................_...................ww...w....�.. ......� ._._...... ..........
�y: . .... ........ .... .... .......�...__ ____.
Name: Viren Shah,Manager
�6-
� The Commonwealth af Massachusetts
Alcoholic Beverages Control Commission
95 Fourth Street,Suite 3, Chelsea,MA 021 SO-2358
www.mass.gov/abcc
APPLICATION FOR A TRANSFER OF LICENSE
Municipality lexington,MA �
1. TRAN5ACTION INFORMATION � Pledge of Inventory � Change of Class
f ZJ Transfer of License � Pledge of License � Change of Categary
�] Alteration of Premises � Pledge of Stock Change of License Type
� Change af Location � (§12 ON�Y,e. ."club"to "restaurant")
� Management/Operating Agreement ❑ Other
Please provide a narrative overview af the transaction(s)being applied for.On-premises applicants should also provide a description of
the intended theme or concept of the business operation.Attach additional pages,if necessary.
Transfer of Section 15 All Alcoholic Beverages Package Store License to be used at same retail location at 131 Mass.Ave.,Lexington,MA 02420.
2. LICENSE CLA5SIFICATION INFORMATION
ON „OFF-PREMISES TYPE CATEGORY ��S
Off-Premises-15 � §15 Package Store • il Alcoholic Beverages � Annual �
3. BUSINESS ENTITY INFORMATION
The entity that will be issued the license and have operational control of the premises.
Current or Seller's License Number 00019-PK-0612 � FEIN 86-252928 ��
Entity Name Samarah LLC
DBA inebrook Bottle Shop � Manager of Record iren Shah
Street Address 440 Bedford Street,Lexington,MA 02420
Phone 484-474-4272 -� Email irensvc@gmail.com
Add'I Phone N/A � Website N/A
4. DESCRIPTION OF PREMISES
Please pravide a complete description of the premises to be licensed,including the number of floors,number of rooms on each floor,any
outdoor areas to be included in the licensed area,and total square footage.lf this application alters the current premises,provide the
specific changes from the last approved description. You must also submit a floor plan.
Retail store consisting of 3,200 square feet which is comprised of 1 floor and a basernent for storage. 2 rooms on first floor
and 1 room in basement. Hours of operation will be Monday to Saturday 8:00 a.m.--11:00 p.m. and Sunday 10:00 a.m.
--9:00 p.m.
Total Sq.Footage 3,200 Seating Capacity N/A � Occupancy Number N/A �
�I
Number of Entrances L______� Number of Exits 12 ___`_� Number of Floors 1 ---
�J L_ �J
1
APPLICATION FOR A TRANSFER OF LICENSE
5. CURRENT OFFICERS STOCK OR OWNERSHIP INTERE5T
By what means is the
Transferor Entity Name Vinebrook Corporation license being Purchase � •
transferred?
�ist the individuals and entities of the current ownership. Attach additional pages if necessary utilizing the format below.
Name of Principal Title/Position ___ Percentage of Ownership
William A.Busa President � 100% �
Name of Principal Title/Position Percentage of Ownership
... . ...._ � ��
Name of Principal Title/Position Percentage of Ownership
� � �
Name af Principal Title/Position Percentage of Ownership
C � � �
Name of Principal Title/Position Percentage of Ownership
�.___ � ��
6. PROPOSED OFFICERS, STOCK OR OWNERSHIP INTEREST
List all individuals or entities that will have a direct or indirect,beneficial or financial interest in this license(E.g.Stockholders,Officers,
Directors,�LC Managers,LLC Members,LLP Partners,Trustees etc.).Attach additional page(s)provided,if necessary,utilizing Addendum
A.
• The individuals and titles listed in this section must be identical to those filed with the Massachusetts Secretary of State.
+ The individuals identified in this section,as well as the proposed Manager of Record,must complete a CORI Release Form.
• Please note the follawing statutory requirements for Directors and LLC Managers:
On Premises(E.g.Restaurant/Club/Hotel)Directors or I.LC Managers -At least 50%must be US citizens;
Off Premises(Liquor Store)pirectors ar LLC Managers -All must be US citizens and a majority must be
Massachusetts residents.
• If you are a Multi-Tiered Organization,please attach a flaw chart identifying each corporate interest and the individual owners of
each entity as well as the Articles af Organization for each corporate entity. Every individual must be identified in Addendum A.
Name of Principal Residential Address SSN DOB
o�
iren Shah � 440 Bedford Street,Lexington,MA 02420 � ...........
Title and or Position Percenta e of Ownershi Director/L�C Manager US Citizen MA Resident
Manager,Member �� 35% (:Yes (`No (:Yes t" No CC Yes C`Na
Name of Principal Residential Address S5N DOB
Il I II IV�I III I I�
avin Patel 10 Jordyn Lane,Andover,MA 01810 � �II
Title and or Position Percenta e of Ownershi Director/�LC Manager US Citizen MA Resident
Member u� 55°�a ("`Yes C:No (:Yes ('No (:Yes C'No
Name of Principal Residential Address SSN DOB
handni Patel � 259 Westford Road,Tyngsboro,MA 01879
Title and or Position Percenta e of Ownershi Directar/LLC Manager US Citizen MA Resident
Member 5% (�' Yes C:No (:Yes ('No (:Yes t"No
Name of Principal Residential Address SSN DOB
Jayshree Patel 440 Bedfard Street,Lexington,MA 02420
Title and or Position Percentaqe of Ownershi Director/LLC Manager US Citizen MA Resident
Member � � 5% (` Yes (:No G Yes C'"No (: Yes C No
APPLICATION FOR A TRANSFER OF LICENSE
6. PROPOSED OFFICERS, STOCK OR OWNERSHIP INTEREST(Continued )
Name of Principal Residential Address SSN^ DOB
�� —
Title and or Positian _ Percenta e of Ownershi Director/LLC Manager US Citizen MA Resident
�... .---- �
Yes (: No (+'Yes ('No (: Yes (`N�
Name of Principal Residential Address SSN DOB
� L�_�
Title and or Position � Percenta e of Ownershi Director/LLC Manager US Citizen MA Resident
.......................
C`Yes C No ('Yes C No �Yes ("'No
Name of Princi al Residential Address SSN DOB
� L��
Tit e an or Position, ___.
,,,,,,,, Percenta e of Ownershi Director/LLC Manager US Citizen MA Resident
.............. �i� L��
('Yes (" No (` Yes_ ('No ('Yes (`No
Additional pages attached? (~ Yes (: No
CRIMINAL HISTORY
Has any individual listed in question 6,and applicable attachments,ever been convicted of a (" Yes (:No
State,Federal or Military Crime?If yes,attach an affidavit providing the details of any and all convictions.
6A.INTEREST IN AN ALCOHOLIC BEVERAGES LICENSE
Does any individual or entity identified in question 6,and applicable attachments, have any direct or indirect,beneficial ar financial
interest in any other license to sell alcaholic beverages? Yes � No � If yes,list in table below.Attach additional pages,if
necessary,utilizing the table format below.
Name license Type License Name Municipality
None
66.PREVIOUSLY HELD INTERE5T IN AN ALCOHOLIC BEVERAGES LICENSE
Has any individual or entity identified in question 6,and applicable attachments,ever held a direct or indirect,beneficial or financial
interest in a license to sell alcoholic beverages,which is not presently held? Yes � Na �
If yes,list in table below.Attach additional pages,if necessary,utilizing the table format below.
Name License Type License Name
None
3
APPLICATION FOR A TRANSFER OF LICENSE
6C.DISC1.05URE OF UCENSE DISCIPLINARY ACTION
Have any of the disclased licenses listed in questian 6Aor 6B ever been suspended,revoked or cancelled?
Yes ❑ No � �f yes,list in table below.Attach additional pages,if necessary,utilizing the table format below.
Date of Action Name of License City Reason for suspension,revocation or cancellation
N/A
7. CORPORATE STRUCTURE
Entity Legal Structure LLC � • Date of Incorporation 2/19/2021 �
State of Incorparation Massachusetts � Is the Corporation publicly traded? �'^Yes (: No
8. OCCUPANCY OF PREMISES
Please complete all fields in this section. Please provide proof of legal occupancy of the premises.
• If the applicant entity owns the premises,a deed is required.
• If leasing or renting the premises,a signed copy of the lease is required.
• If the lease is contingent an the approval of this license,and a signed lease is not available,a copy of the unsigned lease and a letter
of intent to lease,signed by the applicant and the landlard,is required.
• If the real estate and business are owned by the same individuals listed in question 6, either individually or through separate
business entities,a signed copy of a lease between the two entities is required.
Please indicate by what means the applicant will occupy the premises
Lease �
�andlord Name Massachusetts Avenue,No.2,LLC
Landlord Phone 781 862 9700 Ex.211 � Landlord Email fn@sumrp.cam ��
Landlord Address �0 Hayden Ave.,Lexington,MA 02421
Lease Beginning pate Apri)2021 � Rent per Month $5,689.58 ^�
Lease Ending Date April 2031 � Rent per Year $68,294.76 ` �
Will the Landlord receive revenue based on percentage af alcohol sales? ("Yes (: No
9. APPI.ICATION CONTACT
The application contact is the person who the licensing authorities should cantact regarding this application.
Name: Alexander Furey Phone: 617-723-7200 �
Title: Attorney,Considine&Furey,L�P Email: afurey@considinefurey.com
4
APPLICATION FOR A TRANSFER OF LICENSE
10. FINANCIAL_DI_SCLOSURE
_____.» .... w ... __ ____...__..._......�....... __.,
A.Purchase Price far Rea! Estate N/A
�....�. .�
B.P..� �.
... .... _ � �..._
_ M.MM.M_
urchase Price for Business Assets $600 000
.... .... ...__w
.......... .... ......... _......................____.._______.__........_______________ ........,
.. .........
C Other*(Please specify) ��q *Other:{i.e.Casts assaciated with License Transaction including
but not limited to: Property price, 8usiness Assets, Renovations
D.Total Cast $600m � mmmmITITITIT
,000* costs, Construction costs, Initial Start-up costs, Inventory costs, or
..w.....__... �..._.�._� ..........___........ specify ather casts);,,
SOUR,CE,OF CASH CONTRIBUTION
Please pravide documentatian af available funds.(E.g.Bank ar ather Financial institution Statements,Bank Letter,etc.)
............. ......._�....._. _...._.__...............__.......... ......... ............ ... .... ........ . ....m... ._..._... ....�._._ ._.......�...._._..w ._._._...�............. ___..,__ ...ryry_.ry...
Name of Contributor Arnount of Contribution
Eagle Bank $600,000
�'Plus cost of inventory
��"'c�tr�l .. $600,000
SOURCE OF FINANCI_NG,
Please�ar�avid�*signed financinc�documentation.
Name of Lender Amount 7ype of Financing Is the(ender a licensee pursuant
ta M.G.L.Ch.138.
Eagle Bank $665,OQ0 Business�oan ('Yes (: No ��
... .... .... ........._.....�..�_....___�_._._._._._��_...������_�...�����.____.____.
_.._..._.. _......._............_................�w......... ......... .........
(,Yes (` No
�� �.,Yes C'"No�mm����...�
('Yes (` Na
FI_NANC,IAL...IN_FOR_MATION,
Provide a detailed explanation of the form(s)and source(s)of funding for the cost identified above.
...�.__-__....._.�,.......__p.��....._...w.�.�....�..._w.g..._�p...___......�......p............_........,....�._�,.,......_._Y____..._._..__..._._..�w��_,_v��,�.�,�„�..�.,.....,�..,w,��W�,.�,��,.....�.�..w_.._..,..�,�..,......_..�.�,R.�.._........�...
Ea le Bank will ravide fundin for urchase rice and inventor ,
..................
�,,�» �',I,+�,��,�...I��`.t���1J���1�!f�'l
Please pravide signed pledge documentation.
Are yau seeking approval for a pledge?�;Yes C' Na
Please indicate what you are seeking ta pledge(check all that apply> Q License Q Stock �X Inventory
...
Ta whom is the pledge being made? ��gle Bank �
5
12. MANAGER APPLICATION
A.MANAGER INFORMATION
The individual that has been appointed to manage and control the licensed business and premises.
Proposed Manager Name Viren Shah � Date of Birth � �II+�SSN ' �������� U��
Residential Address 440 Bedford Street,Lexington,MA 02420
Email virensvc@gmail.com Phone 484-474-4272 ��
Please indicate how many hours per week you intend to be on the licensed premises �
B.CITIZENSHIP/BACKGROUND INFORMATION
Are you a U.S.Citizen?* (:Yes (` No *Manager must be a U.S.Citizen
If yes,attach one of the follawing as proof of citizenship US Passport,Voter's Certificate,Birth Certificate or Naturalization Papers.
Have you ever been convicted of a state,federal,or military crime? ('Yes C: No
If yes,fill out the table below and attach an affidavit providing the details of any and all convictions.Attach additional pages,if necessary,
utilizing the farmat below.
Date Municipality Charge pispositian
C.EMPLOYMENT INFORMATION
Please provide your employment history.Attach additional pages,if necessary,utilizing the format below.
Start Date End Date Position Employer Supervisor Name
6/2020 Present Front Desk Clerk Holiday Inn Express Katey Blake
8/2020 Present Front Desk Clerk Best Western Plus Brian Borque
8/2018 11/2019 Kitchen Crew Manager DQ Grill&�hill Mr.Ahmaan
1p/2016 11/2019 Assistant General Manager Quality Inn Suites Mikey Bhakta
D.PRIOR DISCIPLINARY ACTION
Have yau held a beneficial or financial interest in,or been the manager of,a license to sell alcoholic beverages that was subject ta
disciplinary action? �Yes (:No If yes,please fill out the table.Attach additional pages,if necessary,utilizing the format below.
Date of Actian Name of License State City Reason for suspension,revocation or cancellation
l hereby swear under the pains and penalties of perjury thai the informatian I have provided in this application is true and accurate:
Manager's 5ignature �.,/�,,`.�,v�...- Date 3/22/21 �
6
13. MANAGEMENT AGREEMENT
Are you requesting approval to utilize a management company through a management agreement? (' Yes ('No
If yes,please fill out section 13.
Please provide a narrative overview of the Management Agreement.Attach additional pages,if necessary.
IMPC►RTANT NOTE;A management agreement is where a licensee authorizes a third party ta contra)the daily aperations of
the license premises,while retaining ultimate control over the license,through a written contract. This does not pertain to a
liquor license manager that is employed directly by the entity.
13A. MANAGEMENT ENTITY
List all propased individuals or entities that will have a direct or indirect,beneficial or financial interest in the management Entity(E.g.
Stackholders,Officers,Directors,LLC Managers,LLP Partners,Trustees etc.).
Entity Name Address Phone
� � �
Name of Principal Residential Address SSN DOB
� ��� ---�,..,..,
Title and or Position Percenta e of Ownership Director US Citizen MA Resident
� C'Yes (' Na ("Yes ('N� C Yes (`No
Name of Principal Residential Address SSN DOB
� � r�____� '---
L
Title and or Pasition Percentage of pwnership Director US Citizen MA Resident
('Yes (` No ('Yes ('No (`Yes (`No
Name of Principal Residential Address SSN DOB
� �_� �
Title and or Position_ Percentage of Ownership Director US Citizen MA Resident
� C'Yes (` No ('Yes (` No ('"Yes C N�
Narne of Principal Residential Address SSN ppg
� ,....,, �
�.�
Title and or Position _ Percentaqe of Ownership Director US Citizen MA Resident
� (''Yes ('Na C Yes ('' No ("'Yes (`No
CRIMINAL HISTORY
Has any individual identified above ever been convicted of a State,Federal or Military Crime? ("Yes ('N�
If yes,attach an affidavit providing the details of any and all convictions.
13B. EXISTING MANAGEMENT AGREEMENTS AND INTEREST IN AN ALCOHOLIC BEVERAGES
LICENSE
Daes any individual or entity identified in question 13A,and applicable attachments, have any direct ar indirect,beneficial or financial
interest in any other license to sell alcoholic beverages;and or have an active management agreement with any other licensees?
Yes ❑ No � If yes,list in table below.Attach additional pages,if necessary,utilizing the table format below.
Name �icense Type l.icense Name Municipality
7
13C. PREVIOUSLY HELD INTEREST IN AN ALCOHOI.IC BEVERAGES LICENSE
Has any individual or entity identified in question 13A,and applicable attachments,ever held a direct or indirect, beneficial or
financial interest in a license to sell alcahalic beverages,which is not presently held?
Yes ❑ No ❑ If yes,list in table below.Attach additional pages,if necessary,utilizing the table format belcrw.
Name License Type License Name Municipality
13D. PREVIOU5LY HELD MANAGEMENT AGREEMENT
Has any individual or entity identified in question 13A,and applicable attachments,ever held a management agreement wi#h any
other Massachusetts licensee?
Yes [�] No ❑ If yes,list in table below.Attach additional pages,if necessary,utilizing the table format below.
�icensee Name License Type Municipality Date(s)of Agreement
13E. DISCLOSURE OF �ICENSE DISCIPLINARY ACTION
Have any of the disclosed licenses listed in question section 136,13C,13D ever been suspended,revoked or cancelled?
Yes ❑ No [� If yes,fist in table below.Attach additional pages,if necessary,utilizing the table format below.
Date of Action Name of License City Reason far suspension,revocation or cancellation
13F. TERMS OF AGREEMENT
a.Does the agreement provide for termination by the licensee? Yes � No �
b.Will the licensee retain control of the business finances? Yes � No �
c.Does the management entity handle the payrall for the business? Yes � No �
d.Management Term Begin Date �— �� e.Management Term End Date ��� �
f.How will the management company be compensated by the licensee?(check all that apply)
❑ $per month/year(indicate amount) �—�1
❑ %of alcohal sales(indicate percentage) r`--�
❑ %of averall sales(indicate percentage) I--�I
l I
❑ other(please explain)
ABCC Licensee Officer/LLC Manager Management Agreement Entity Officer/LLC Manager
Signature: Signature:
Title: Title:
pate: �— � Date: ��
$
APPLICANT'S STATEMENT
�� iren shah � the: �sole proprietor; � partner; �corporate principal; � LlC/�LP manager
Authorized Signatory
Of Samarah LLC
Name of the Entity/Corporation
hereby submit this application(hereinafter the"Application"),ta the local licensing authority(the"LLA")and the Alcoholic
Beverages Control Commission (the"ABCC"and together with the LLA collectively the"Licensing Authorities")for approval.
I do hereby declare under the pains and penalties of perjury that I have personal knowledge of the informatian submitted in the
Application, and as such affirm that all statements and representations therein are true to the best of my knowledge and belief.
1 further submit the following to be true and accurate:
(1) I understand that each representation in this Application is material to the Licensing Authorities'decision an the
Application and that the Licensing Authorities will rely on each and every answer in the Application and accampanying
documents in reaching its decision;
(2) I state that the location and description of the proposed licensed premises are in compliance with state
and local laws and regulations;
(3) I understand that while the Application is pending, I must notify the Licensing Authorities of any change in the
information submitted therein. I understand that failure to give such notice ta the�icensing Authorities may result in
disapproval of the Application;
(4) I understand that upon approval of the Application, I must notify the Licensing Authorities of any change in the
ownership as approved by the Licensing Authorities. I understand that failure to give such notice to the
Licensing Authorities may result in sanctions including revocation of any license for which this Applicatian is submitted;
(S) I understand that the licensee will be bound by the statements and representatians made in the Application, including,
but not limited to the identity of persons with an ownership or financial interest in the license;
(6) I understand that all statements and representations made became conditions of the license;
(7j I understand that any physical alterations to or changes ta the size of the area used for the sale,delivery,storage,or
consumption of alcoholic beverages, must be reported to the Licensing Authorities and may require the prior approval
of the Licensing Authorities;
(8j I understand that the licensee's failure to operate the licensed premises in accordance with the statements and
representations made in the Application may result in sanctions, including the revocation af any license for which the
Applicatian was submitted;and
(9) I understand that any false statement or misrepresentation will constitute cause far disapproval of the Application ar
sanctions including revacation of any license for which this Application is submitted.
(10) I confirm that the applicant corporatian and each individual listed in the ownership section of the application is in
good standing with the Massachusetts Department of Revenue and has complied with all laws of the Cammonwealth
relating to taxes, reporting of employees and contractors,and withholding and remitting of child support.
Signature: Date: 3/22/21 �
Title: Member/Manager
MA SOC Filing Number: 2Q2132661810 Date: 2/19/2021 2:41:00 PM
a��� � .�d�_ The Commcrnwea►Ith a►f Massachu�s�tts ������►�rn F���:ssoaoo ;,
��� '"�� WilN�am Francis Galv�n �;
� � S�cretary of th�Cammanwealth,Corporatic�ns TJivision
�. �� �;� One Ashburton Place„ 17th�►oor ^
�'��� , ����"��� $ostan,MA f12108-t S 12 �'
��`� :�����` � Telephone:(617)727-9G40 ��
. • . . . ,k
�„
.a K';
; Identi�cation Number: 0014$9146 y'
�
� 1.The exact name of the limited liability company is: SAMARAH LLC "r"�
� 2a.Location of its principal office: Y
No.and Street: 131 MASSACHUSETTS AVE f
' Ciry or Town: LEXINGTON State:MA Zip: 02420 Country: USA
` 2b.Street address of the office in the Commonwealth at which the records will be maintained:
�;
� No.and Street: 131 MASSACHUSETTS AVE 'i
` City or Town: LEXINGTON State: MA Zip: 0242q Country: USA
�� 3.The general character of business,and if the limited liability company is organized to render professional i�
service,the service to be rendered: �
TO OWN AND OPERATE A RETAIL LIQUOR STORE AND SHALL BE PERMITTED TO PERFORM
ANY ACT PERMITTED UNDER THE LAWS OF THE COMMONWEALTH OF MA5SACHUSETTS �
r�
bs
N;
F
�� 4.The latest date of dissolution, if speaified: �
>�'
(f
Y,'f
�� 5. Name and address of the Resident Agent: �
" Name: VIREN SHAH ;�
d; No.and Street: 131 MASSACHUSETTS AVE �
�i Gity or Town: LEXINGTON State:MA Zip: 02420 Country: USA ��
�,A
,; �;
j' I, VIREN SHAH resident agent of the above limited liability company,aonsent to my appointment as the �
l,; resident agent of the above limited liability company pursuant to G. L.Chapter 156C Section 12. �
�,
, Jf`
�� 6.The name and busine�s address of each manager, if any: �
,
i; ��
i;
Title Individual Name Address�no Pp aox> �;�
r�
First,Middle,Last,Suffix Address,City or Town,5tate,2ip Code ��
��
MANAGER VIREN SHAH 131 MASSACHUSETTS AVE `
�EXINGTON,MA 02420 USA
7.The name and business address of the person(s) in addition to the manager(sj,authorized to execute �
` documents ta be filed with the Corparations Division,and at least one person shall be named if there are no ;
! managers.
Title Individual Name Address(no Po Box)
„
First,Middle,Last,Suffix Address,City or Town,State,Zip Code ;_
SOC SIGNATORY VIREN SHAH '
131 MASSACHUSETTS AVE
' � L�7fIN(3TCIN,MA 0�42�d W5A ��
8.The name and business address of the person(s)authorized to execute, acknowledge, deliver and record
any recordable instrument purporting to affect an interest in real property:
Title Individual Name Address�no Po aox)
;<
First,Middle,Last,Suffix Address,City or Town,State,Zip Cade <
REALPROPERTY VIREN SHAH 131MASSACNUSETTS
LEXINGTON,MA 02420 USA
�,
9.Additional matters:
. SIGNED UNDER THE PENALTIES OF PERJURY,this 19 Day of February,2021,
NIKUL PATEL
(The certificate must be signed by the person forming the LLC.)
�2001 -2021 Commonweaith of Massachusetts
All Rights Reserved
�o„�. ,� e; . .... ., : .., .
MA SOC Filing Number: 202132661810 Date: 2/19/2Q21 2:41:00 PM
THE CONZMONWEALTH OF MASSACHUSETTS
I hereby certify that,upon examination af this docurnent, duly submitted to me, it appears
that the provisions af the General Laws relative ta corporations have been complied with,
and I hereby approve said articles; and the filing fee having been paid, said articles are
deerned to have been filed with me on:
February 19, 2021 02:41 PM
, �
,����-�-��
WILLIAM FRANCIS GALVIN
Secretary of the Commonwealth
AGENDA ITEM SUMMARY
LEXINGTON SELECT BOARD MEETING
AGENDA ITEM TITLE:
Request to Include Pledge of License and Inventory for Liquor License Transfer of 55
Bedford Street - 55 Pearl Investment LLC d/b/a Busa Brothers Liquors
ITEM
PRESENTER: NUMBER:
Jill Hai, Select Board Chau-
I.2
SUMMARY:
At the May 24, 2021 meeting, the Select Board approved the transfer of Package Store Liquor License located
at 55 Bedford Street to 55 Pearllnvestment LLC.
55 Pearl Investment LLC has since submitted a request to the Board for approval to also include a Pledge of
License and Inventory with the Liquor License Transfer at 55 Bedford Street.
55 Pearl Investment LLC has been granted a$685,000 loan ("Loan")from Eagle Bank to finance the purchase
of the Section 15 package store at issue and that, as a condition of such Loan, Eagle Bank has requested a
Pledge of both the Liquor License and related inventory. The requested Pledge serves as collateral to secure
the funds bemg provided by Eagle Bank. The Pledge ensures that the Liquor License and/or inventory will not
be sold or conveyed without the consent of Eagle Bank.
The applicant has provided the following documents to be replaced in/added to the originally approved
application:
1. Revised Pages 1-5 of Application to reflect request for Pledge of License and Inventory
2. Revised Corporate Vote to reflect both Transfer of License and Pledge
3. Eagle Bank Promissory Note to be signed at closing
4. Pledge Agreement to be signed at closing
SUGGESTED MOTION:
Move to (approve/not approve) inclusion of a Pledge of License and Inventory as part of the Liquor License
Transfer at 55 Bedford Street to 55 Peai•1 Investment LLC d/b/a Busa Brothers Liquors.
FOLLOW UP:
Select Board Office
DATE AND APPROXIMATE TIME ON AGENDA:
6/7/2021 7:OSpm
ATTACHMENTS:
Description Type
L� Viw�,�ua^9��e�iu��7���fl���aV��l�„e a�fr l�nu:�rus�/urrva:uu4a�u��y��..�5,`V'�a�a��dm�a^�it�c�rr�4 I[,ILfi I��¢,Iku��w 1Vd�n:�u�i�l
�arp;y Q�9�'1Csa�uico��zc�nuw�: lf"maru�fa;rc�p�p��u��ann4�rr,a�s�sl�;�vt,c��d:�.2�.1.0 o���bnm�n
❑ nR�a�;Vi�u�r Msa�a nrE�1
55 I["��rrl Ori�Q�t,n;rr�aroh �0�_;
C4NSIDINE & FUREY, LLP
COCJNSELORS AT LAW
ONE $EACON STREETy Z�nd FLOOR
Alexander�urcy,��q. BOSTt7Ny Mtl �G 1 a�
E-Mail:aEurcy@cansidinefurey.com Telephane(617) 7Z�`-72Q�
Telecapier(6l7} �23-S7Q0
www.cansidinefurey.com
M�y z7, zo21
K.im Katzenback
Executive Clerk
Select Baard
Tawn Office Building, 2n`� Floor
1625 Massachusetts Avenue
Lexingtan, MA 02420
Re: SS Pearl Investment LLC's Application to Transfer Seclion IS All Alcohol Package
Stvrc License lacated at 55 Bedfard Street, Lexingtan, MA
Dear Ms. Katzenback:
As you know, I represent SS Pearl Investment LLC with respect ta its A�rplicatian far a
Transfer af License for an existin� §15 Package Store, All Alcohal License (currently held by
Busa Brathers Liquors, Inc.}ta be used at SS Bedfard Street, Lexingtan, Massachusetts 02421.
Erlciosed plcase find the following documents to be included in the Application;
1. Revised Pages 1-S af Applicatian ta reflect request for Pledge af License and Invento�y
2. Revised Corparate Vote ta reflect both Transfer of License and Fledge
3. Eagle Bank Pramissary Note to be signed at clasing
4. Pledge Agreement ta be signed at clasing
The reasan I arn revising tlsis Application is to inform the Select Baard and the ABCC
that 55 Pearl Investment LLC has been granted a$685,000 loan ("Laan") from Eagle B�nk to
finance the purchase of the Section 15 package store at issue and that, as a candition af such
Loan, Eagle$ank has requested a Pledge of both the liquor license and related inventory. The
requested Pledge serves as callateral ta secure the funds being pravided by Eagle Bank. The
Fledge ei7sures tl7at the liquor license andlor inventory wiil not be sold or cc►nve�ed without tha
cansent af Eagle Bank. Eagle Bank's request far a Pledge is standard pratacol for this type of
business loan.
Please let me know if yau have any questions. Thank you far yaur attentian ta this
matter.
Very truly yaurs,
,
,...�.����..,��
��
,., . �. .�,.. ....__
� ::� �� >�
�;::�w:�'::����ca����������*��• Furey
Enclosures
��� The C'onarnvnwealtlt afMassaehusetts
"�` fllcc+holic Bevera�es Conlrol G"ammission
,.,
��� ��� 95 Fouwth St�'eel�Suite 3r Chelw�ea, n�� o2rso-2358
� www.rnass.go v/abcc
�����ti������ APP`LICA►1"IC1N FC7R A TFtANSFER OF LICENSE
... . ....
p I xington MA
Municl ality I��.�........................ _.........., ......,.
. ... ... Pledge af Invento ......._Chan.�e of Class.. ��.
�. �"N�A��'�M���'��� �I�I�_��C'���I�(�N�N, � rY ❑ g
� Transfer of l,icense � p�edge of License ❑ Change of Categnry
❑ Alteratian of Premises [� Pledge af 5tock Change of LicenseType
� Mana ement/0 eratin A reernent ❑ Other � . �W..� , . [ .J_� _ . ..�..... � .... �..._ ry�._....._....m..l�
Chan e of Loc�tforr �rl,�(�C�6 Y„w c w �&�r�� l�a �a ����arawr��
❑ g f� g �
���k'�"lease pravide a narrative overvieav ofYhe trarrsac#ionts)being applied for.On-premises applicants should also provide a description of
� ........_� � ....._heme or a«w���a�Ea�of the business..��a�a�r�tl�srr.Attach...additiional.�.'b���� if��a�a�����r.��° �....... .. ........�_..._.._............�,......n...
tfi��intended t ......_.w.. . ....,
�r�e�����c ancl Pledge af Sectlon 15 All Alcahalic 8everages Pack�ge SCore Llcense to be used at same reCail locatian aY 5S 8edfard Strcet,Lexington,
Pw�fiw p2421,
. .. .. ..__._..................w.._�www�. .,,,,._ ..�..._..,.._.....,_..�..� ,,,,.,..�.�,.. ...,,,..,... , .,,,.�_. . _.,.....
�.,..�����,�,����1�!���M������.,������'.d����w�,
6�f94�er�»ar�(�� 15������ �C"`�PM�� . .��4����{�'� —__ �����"..
. "" TM�1SPacka e5tore ....,_...............�,..._ � .,� ....._.ges "�" �4Ran��e�k �
��� ��M �
� ......�.,. �.... r�µ� �......... ..,.,.,,,...,� kM Alcohalic 6evera, ...�.,_,_,..�....w._................... .. .. ......... �. ...�,.�..
�. ���l�M���� �N��N`l'�"V�'������M��"��M.�._ . ........ ..... ....... m..,,�.�, .�....... ..._.�...�.�. ,,.. . ..... _.w.,._. .__,.,,,,,
�hc���i�tdt��k°r���wflqWk��es���c�r��h�di��n���rir�..kiave aperat�onal contr4l of the premises,
Current ar Seller's License Number C� t�15 PK 0612 FEIN f� W w�
p .. , ��1�s��
�,.... ...._. _....... ......__._ ._ ....... ............. ..,,,,,,. ..... ......,...
� aaa. .. ..� ��ro
Entity Name �S Pearl Investrnent LLC
�M.... .,...... ........_.. �.....�. ._........ ...... .�.._... .... ... .. .. .... ... ..... �.......�
dBA E�t�..._._..............._�....� .. . ...
s�Brothers Lfquors Manager af Record �likul ailip Patel
�...� . _.......�. .....��... ..,.� � .w..._.._ �., ,.�.,M,.....�.... ... . ........ _._.......�. ....__w._.,..
�_�w_. ... ... .. . ... .............._ _. ... .. v..�,�
5treet Address �5S Bedfvrd 5treet,Lexington,MA 02420
. _ _-___ .....� ...
. �... . _..._
Phone �6.17 633 1463 .._ _.W. .. , .... ....� EmaN �N6kul@)amsan..us .._._ .. .............
_�..00...�.. ., ..
..o.o. . .
....N ....
Add'I Phane �hda"A.�._ _...._......�.....�.....�_.�.., .._.. ..� Website��q/A....w��. ........, �
...... .... .............. ....... ....w..�. „ ..........m. �..... .,....... ... ....,..... .... .m. .... ........ ..........
q�. [������i��"��� �� �"6���ISES._..�._....... �.. ..w..._.. ...... ......
Please..ravlde a comp���..e descriptio�n..o.������
p leti f the premises to be Ilcensed,Including the number af fionrs,nurnber af roams on each flaor,arry
�a�a�draaN°areas to be included in the licensed area,and total square footage.IFthis applicatian a{ters the curren#premises,provide the
s��c�f��changes from the last approved descriptlon. Ydu must also submit a floor plan,
I�«�t�ail store cansisting~�of 4,700 sq�uare�feet which is comprised of 1 floar�plus���a�baseme�nt for storage,u.�A total of 3 raom�W� u
s.
�C�a�rs of aperation will be Monday to 5aturday 8;00 a.m,to 11;00 p,m.and Sunday 1d;00 a.m�ta 9;00 p,m.
7otal Sq.Footag_ .. . . ... . .... ...... . ..... ...... ....__ ..... . . _.... ... . ....._.... � ..... ... � ..
�. ..,..____.. ...� . ,
e �4�C��) � SeaYing Cepacity �NJA �� Occupancy Number �I�/a� �
� � �
.. .
NumE�er of Entrances � Nurnber of Exits 3 Number af Floors 1
�� ....�........�.� �.,,._.mr,....... ��.�_�..� .�. ....,,,,�,.,.� .. ...._..
1
APPUCATIDN FOR A TRANSFER OF LICENSE
� +�4,������ �„��`���,��� . .. �F"���NII _,......._..... .�........ .. _�.,_ _ ....... ..... . ....._
. � � . � ���N��� ��w��'�I�M.. �" 1��"��l��"
. .... ... �y what means is the � ...— . �. ._.
�Transferor Entlty Name �Busa Bros Liquors,Inc � Ilcense being ��'����������' �`J
, , ._ �,� ..... .... n�. ..w.._a. .... �, ...,,. ......a _.,.. a_�. �
tra nsferred 7
t..i��the individuals and entities of the current ownership, Attach additional pages if necessary utilizing the farmat below.
�d��r���of Prir�ri�,�ak T"i�l�/f�asltiarr F�������ti<���w ofOwnersh���
_ � �_
�k���r�fa��P Busa Jr ��. ������ ��resident 100%
. ._..... _...w_.ww..�N ..�. ... .... ..�...... .���.������..���..................� � ...... ..._...w..... .._w�m. _............ ....w, .. ... � ......... .. ..... ......... . �....�
�ldame oi 1�rrr�c�c�aaa9 . ......... ......... ......... Title/PQsltion ������m�r����r���af Ownersh6{�
II �....... ........... .. ...... ......... __....... �.....__�. ...a..� �_... .......... ....... ....... ...,,,,,, . , � �,,,,n...., _..._.. .. �
� � X_ 1���of C3wnersh���
. ,,,,,,, „ �....,..� � � ��� � . .
�da e�r�f N r������I Title
� �m.��...,....�_ . .. _.. . lPoslCion ..... ... �w����... ......... .....
.....�.._.�... ._..l
. .. of Prirr�i��N � TitlelPasiClon I������srt�4��of Ownersh���
�U�tr�c�r� �W..��..��.��.� .. .... www� �.
��_ �.......�����.....�...� , �. ........ . ....� �u�... ___m_.__.. ..�.._�..,,,,.�.......� .........�� � .......N. o00 � ....�..� �
_ of�'������f���� .._..........�....,� �"tt6c��k��rsf�G�ar� b�r�¢c��r�tK��t�of Ownersh.�l�,,,, ....
�N�r�a�. � w.._.�.... ........ „
� .......... ...._.� ..,,,...,�..��. .... . ...� � .�.. . ..,�,�......� . ............. u�u._.�......wM.__. ..� �. ........_ �.�.w...... _........�.. __...__.....�
.
�w..r����+��������������..�.���.��w� �r�r��.�������rv.r.�a�sT
List all individuals or entfties that will have a direct or indlrect,beneflclal or flnanciaf lnterest in this(icense{E,g.�tockhalders,OffiCers,
f7lrectors,LLC Managers,LLC Members,LLP Partners,7rustees etc.).Attach additional page(s}provided,if necessary,utikizing Add�ndum
A.
• The Indlviduals and titles listed in this sectfon must be identical to those flled wlth the Massachusetts Secretary of State.
• The individuals identified in this sectian,as well as the prnposed Manager of Record,must complete a CbRI Release Form,
• Piease note the following statutary requirements far Directors and LLC Managers:
On Premises(E.g.Restaurant!Club/Hotel)blre�ctars r�r LLC Managers -At least 50%must be US citlzens;
Off Premises(Liquar S#are)Directars ar I.LC Managers -All must be US citizens and a maJori#y must be
Massachusetts residents,
• If you are a MuIY!-Tiered drganlzaYion,please�ttach a flow chart identifying each corporate interest�nd the individual owners of
each entity as well as the Articles af(Jrganlzatlan for each corparate enYity. Every Indlvldual must be identified in Addendum A,
�I�m���k��G�Ra ikbhai Patel . __..._..........._..�� 30�Winter�5tr�et,Lexington�.M . .......__ . ..a.,� SSN �� �� ..m_..._ ��, pOB
.�. .
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�m�,ro�,���,�„ �� � ._..,. .._ ........... ........_
6���r�a er Memb�r �� �? �'�rectar/LLC Maneger U5 Citizen MA Ftesident �
._ .... . ... . .�
�1 a{M�"��ga�#r�t��q���t6�a�� . ..v .. .����r.a��°�t��c<�...a�w�r►�rs��.� � ('Yes t�'`,Np ...� �._.r Yes... �...No..� I C�,Yes f Nc,.....��
L
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��rsFwHkt�ma�r&Sani..���. .„ ���������-���Address _mm SSfV ; .
N ' _ d
�.M Bedford Street,Lexfn ton,MA�2420
��N«�nw��a�r .. ........ �.,��..�.�....�� ... �"a�i��� ��_a.. � ��es�C�`i No ager U�CYt�sen�:.NO M�esident
.... .._ �..... � � �_....._ . . .I � C`-Y 1 C� � �... ...� .�.��
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Name of Pr�Yr�ri������f ....o_, _..._....... Resident�a!Address e m. 5SN (70�
���vi Patel ����9 Westford Raad,7yngsbarough,MA 01879 �
�i�fa����,w���f���wu��kaaGr_.......�__.�_�� ......... _�� � �„� � � . .m...._. ...................�� US CiClzen ....�.. MA R .�. .. _.
a,..��. ic�r�t�� �crf�,��a�ar��ro� DirecCorILLCMana er..�..�.�....� ... ....�
......... f�;Yes (�`,�N........, esident
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��I��r��w�a�.�r .....� ���'�....._.,,,,,,,..� .........� �....w.��.�.. ........° ..� �.�_Yes......�''N° .� �;.Yes C�` Nr,
�' . ..ww..... ... ,,,,,.��.. �....... . rc � .. .. _........ .._.....,� .. ............. .. ..... . ..... .... � . ,; ..., .........
� � �.� � A40 Bedford 5tr�et,Lexln ton,..MA 024.z,�...._.......�.......� ��. ..._.....wwwwww�.... �.� �� �t
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�esldential Address g SSN DO �
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P�CYId �t"4
�"�M��f1 �.�.�.�.,� �.� o�. � �,�,., .,,� �e.�� �
h�d�rr��r�r „ , �"� �_�d .._ .... .� �'Yes (+�Na....g (�Yes.� C`No Resident
���t������,���� irector ana er US C�tizen
_.� �.�... ... _w�
�9t8r �rt� ��r wrr�pt c»rr. ... .. .. ��r�r�.r�r�t�r . _._._...� .... ....... . �
� �. � � ... � � � ��. � f�`Y�s t�" B��
APPLICATION F�R A TRANSFER OF LICENSE
�_���������,�!�'�C�"����, STOCK OwR t�WNER51iIPwNI�������a"�.��";��trr��a��...µ�.
" .�� I �� ... ,. , e ...._ _ ......._ . � �...� ����
Name af�ukox�C���aN Residential Address
._
. . .. .... �
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�......,_ .. . _ ,. , ,,,,,.�. _.... . ..........� �a, . ,..,...w. _ ,.
�4��a �������,r�"r��t�S��r�a . 9 US Citlzen MA Resident
�...., .. . ...... ... ........���.....�.��" ,�._. .._..�� � Cr`Yes (�No .� �... ..._ ..... ..........
6 a��ac���»��e ��f
t��+r�a w�l�i„� Director ana er
. ....._.�. w,...... (�``..Yes C'Na . � ���"Yes C`No ..�
......... . _,,.w.. .�....
Name of F�r�3r�������1 Residentlal Address SSN D�B
.. ... .... ..
� ......m.. _�..... ... . . ....... .� � .. ....... .. .............. �.�� .... ..... .._........ ul �,...,,,,,,,, „ ......... .....� ...... ......_..
�`lCkak�p��l�N �ca�kp�l�rpr ...... 6��wrc�������c�t�f�vtr�Ac������a DirecCor/LLC Manager US Citizen MA Resident
�.. ..._.�..._.��. .. .. ... ....... .. ... ..... ., .... .
� � ,,,, ,,,,,,,,,, ,,,�.� ...�� � �....��Y�s....._t"`N�.......� ��.,,�Yes C`' No......� �.._� Yes._..C"No......�
CWd�arr��,�aC�"�dr��i��,�P .�. ResidentlalAddress .... .. SSN . DOB
...
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� � _. � � ..� �... .�. ........ � C`Y .�. esident
1�tl���c�cl�w I c��itar�c�. . fw�r��c�t,�� �of f)r�n��sB�o Direct es C`Na � C,. r Yes.. ("`No � II _.� ...W...� ....�
� µ N r C anager US Citizen MA R
.� ....N.,.
� .. „ a ,... . . �. � .... ....� ..� � ,Yes C"Nm
Additianal pages attached? �y�� �;�� �
�t�iG�l.�/�N I��TC7{�.Y �.��._._ �
Has any indlvldual Ilsked in questlan 6,and applkable attachments,ever been convicted of a ('�Yes (:IVo
State,Federal or Military Crime?If yes,attach an affidavit providing the detafls af any and all convictians. "°�"'°°°"" °"
...�,.�_.......... .._........ .__....u�.....w...w ��,,. ......�_..w....mm..._�w_._...M._......��.. ww...w,.
�,�. ��d1.C°,�C;�a�..���M`dm��G��'.�lt�l.1C' ��.:1d���N�����.p.g��`.���.
C�a�a°..s any individual or entity identified in question 6,and applicable attachments, have any direct or inclirect,beneficial or financial
interest in any other license ta sell alcoholic beverages? y�S � ��, � If yes,list In table below.F�ttach additianal pages,if
necessary,utilizing the table farmat belaw.
. . ...�. _.. __..� _...,.Y���..,,,�._.ry... ... .... ...... ...._.._...,............� _... __ . .... ..
Name License T e Ucense Narne Muni mmm�mmmm M��
� � cipality
None
66 .P.�iEVlf.)U$ �...... �._�..�.. .,,..�_ ..�..,.. . ..
. ......ww. .ww_.. ......._..._. .....W.,.., w�....�..�.....
LY H�I.D tNTERE5T IN AN AI.COHpLI..C...6EV,ERA��S�N�I�,�`,CV��
'Has any individual ar entity Identffied in quest+on 6,and apphcable attachments,ever held a direct or indirect,benefldal ar financlal
interest in a license to sell alcoholic beverages,which is not presently held7 Yes ❑ No (X�
� � . .m......._.............m...�._��.. low.
If p���M l.ist in C�ble below Attach additlonal��r�a�� if���e�a����r�,�r�6��irw��the ta e format....e � . .._...... ....�__....................
.......�.�..........��_.....�_..........Name .. Lic...,_....,,o..._._w........w,._ _... .._�_...�,,,.�. ......� �.........�......... ��,.w.�. .. .._..
y�����WNM ense Type License Name
None
3
APPLICATIbN FOR A TRANSFER QF LICEN5�
... . � �..... ........ ..�_..._......... ..�......_ ......... .. .... ..._. .. ._.. ........,.. ._..... ......... . ._..
��". ��.�����?��9��F t��"_�I.�����_������4�!�!�M'����Y.�4��4�&`�M
Have any af the disclased Iicenses listed in questian 6Aor 6B ever been suspended,revoked ar cancelled?
Yes � � No� If yes,list in table below Attach additianal pages,if necessary,utilizing the table format below
,.. ... __.�.�...... .._..� �._ ..... ,...... �... ..._ .....�..._. ..�..... ......_ ......_. .. .
Qat� nse City Reasorr for suspension,revacation or cancellation
a.e...of Action. ... ....m......, ..Name of Lice.�_�..�..,_ .....�...�..... _... .. ........ . .... ........ ....m ... ��. ............ ....... _.. .. ...w..�.. � .�.,,,.m. a_..a�.�
..__M _.__..w�....__.� .. . .......w. ..�....
P rt„l�r4��1z�,4d!�,�i"`i,A�_J�II 1'4bd���_N'M�
�. ........ ......... .... .........� �� #.._„ ... .........., . , , .�..
Entity Legal Structure V LC � Date of Incarporation 2l19/2021
,...
5tate af fncor oration �h�t��^��chusetts � Is the Carparatlon publiclytradedl �^.Yes (: No
p ... . .. .. ._......ww.__�
���...
w o��C:�il���9�'�+��..�"�t�,MISE$
Please complete all fields irr this section. Please pravide proof af legal occupancy af the premises,
� If#he applicant entity awns khe premisea,a deed is requlred.
• If le�sing or renting the premises,a signed copy of the(ease is required.
� If tfie lease is contingent on the approval of this license,and a signed lease is not available,a copy of the unsigned lease and a letter
of Intent to lease,signed by che applleant and the landlord,fs required.
• If the real esYate and buslness are owned by the sarne individuals listed in questian 6, either individually ar thraugh separate
buslness entlties,a signecl copy of a lease between the two entitles fs required,
pp nt will occu the premises ��
�. e
. .. pY
Please indicate by what means the a lica � Leas 0 m^mmm M W
� L� �
Landlord Name 53 55 Bedfard 5tre�t,Na 2,l.
_.a .n..� w... .._.___e._ee.. ... ....
� � 862 9700�x 212 � Landlord Ernail ��M�f���amrp.com �
l.andlord Phone 781 . ... ...... ........ .......... . ........� ....
�.M/c�Winslow...� ... ... . v_ ...�.
l.andlord Address g� Prcrperty Management,80 Hayden Avenue,Lexingtan MA 02427 ��
J 9 nl2��z� ...�� RenC erMor�th ��. . .w..... .����. . �
�...� p p `�t,f315 42
Lease Be innin Date � .� .,.,..�.� ..�.,.a.. ... _.. . �....�... .........
�� ..._� ........... .
Lease Ending Date �April 2Q31 . . ...P Rent per Year ��1.OS,785..04... ......_m__�
4
Will the Landlord receive revenue based on percenkage of alcohol sales? ("'`Yes (:: No
......................... _m....�_..._� „ ...... ....,�.....��....... ............. . ........�,� .......� ��... ...... .....,
�. ��'t��.1t���'�..!�►�d..+�t�l"�'�"��"�'"
Ttte applicat(an contact fs the person who the licensing authoritles shcruld contact regarding this application.
N a m e: a� ....__._...__ . ... .�
6M�a���p�c��.wr Furey Phane: 617-723-�200
U. w......... , __�....._.._µ...��.._�__ ...�......__�. ..M..�.M_.n� . .......�.��.... .... .....� .._ .. ,....
Y ..... y..... ............... . .........� �..fureyQconsidinefureycom
.
Title; �Attarn� ,Gonsidine&�ure ,LLP ......... .. Emall; �. ,..,,,,,, ... .........� . _�. ._ .......�
4
APPUCATION FOR A TRANSFER bF LICENSE
10. FII�JAIUCIAL DISCLOSUwR,E
...... ._.�..... ..�....... .........�. .. ...... . . �_o
A.Purchase Pnce for Real Estate �h�/�; �
_._..... �.... �.
B �urchase Price for Business Assets $62S ��
,000
.,......� ...._.... w..... .. . . .._..... ;..:.�.:...
p Y � ... �.
C.Other�(Piease s ecif ) ��A
*Other;(i.e,Costs assaciated with license Trans�ction inc u ing
� ... �uti not lirnited to: Property price, Business Assets, Renavations
�.,�..��������,����.�,,,_�w� ����
D,Tatal Cast Gw�,��p���� costs,Constructian costs, Initi�l Start-up costs, Inventory casts,ar
I..................... .�................._.. ..�� specify ather casts)�,�
`?�.���.��"_�f..�a�Sl�drv,4.t�N�_��9.��1m�!(v1�N.
Please provide dacumentation af auailable funds.(�,y.Bank or ather Financfal institution S#atements,Bank Letter,etc,)
...._.... ...... .. . ... .. ._. .........w ... .....____.....w..w._...._.....o. .......�.. .... . .. ..... . ..... ..�.... _...........
Name of Contributor Amount of Contri�utian
Eagle Bank $625,040
'�Plus Cost of Inventory
� „�,a� �,��,,,, ��,�����..�_, , .....� oo ���.r_, ,�m ., .,,m��
m�m�mmm�m�� , m�n^mm��mnnu�m�mun�mu�maaan¢mnrenpn , ��� r.rmnmr,�mmw+u��m�,n..
To#al S62S,Od0
��.�.�4�F�aI..F,��@�N����,N.�
Please�rouide si��s�d finan�ir�r�dacumentation,
hd�rrie af Lender Amaunt Type of Finandng (s the lender a li<ensee pursuant
to M.G.L,Ch.138.
Eagle Bank 5685,Od0 Business Laan ("°Y�, �° p��
._..._.._ ���.._... ..._w. .....,.w . _ .. .... ...,..... �,.� _......... ........._ ....,..w_�..m
C�'Yes �`" Nc�
........., ........ ...
("Yes (� Na
._.. .......�w...�.,,,�.. . .................. . . ..,w._... ....M..... ._._...,....,_. ._.m ......... .... . .......��...�W...... ........�..._ (``Yes C``N o
,....rc..ar�,�r,,,.a... ..�..:..^ar�.rva;��uxra�rcz,^��,rcn:�r�x,�.r�o„oo��..����a.�^•�a:..,�..�,._,m...,,,.aA�m.m.,,,...............�,�..� ��,�...o.».,..._m.. ,.,,,.... ............,,, .,,,,,,........,........., ..,..,,,,.�........ .... ......,....�
��M'4.�.4.;9�4t4"°�'�:.��.1.`�.f'"�,/��.�MP,IP�k,����.�..
Provide a detailed��c��l�nation pf the form(s)and source(s)of fundin�for the cost identified abave.
'��c�{�Bank will provide loan far purchase rice and inv.��o...�. .........__..... ......�....w_.__w�....._.............._..........m,,,,__w.........__._.w.......... ... ..... .. . ....... .... .....� w..
o ..o . .
� p ntary,
.. �.�,���.� ����......�.� �.
�.���!.���?�„�µN�����I'a�T1�.N�
Please provide signed pledge documentatian.
Are you seeking appraval for a pledge?�;.Yes (`:No
Please indicate what you�re seeking to pledge(check ail that apply) � Licertse ❑ 5tock � inventory
To wham is the led e bein made? �� �d�'�d17� �
I� J 9
�
5
��������"����"� .
. .� ..� w,a� mm ��.. ,� ,,,., �,.�, .�
The Board of DireGtors or I.LC Managers of ���Pear��nvescmenc uc
. .
��.��rpty�S�arr�a��
duly vaCed to apply to the Licensing Authorlty of �w���r�«�r����„t�� ��and the
Commanwealth af Massachusetts Alcoholic 8everages Confiral Comrnisslon p L
� e ..__, ..... �.
e,,. �.r��/r a��«� �
� �@Narch 22,2021 � �
. e.,.. ,,,, a� .,,,. ..,,_ ,..,,
Data of Meeting
For the following transactfans(Check al)that�pply);
�,� ���wu�V.9ae�w�� �] ChangecrfLs�eatlran � Change�rfC4essfi.e,nnr�wails.�s�nnq ChangeCr�rparateStrucCurep,�,ca�,n�c1
� Cra���f��sra��t'lB�a:���;� � hlteratlor�afLlcensc�c9Prernis�� � �hanr�eafl.icenseType9ce,uu�rrmarsur�s�rr � �Icc9q�eo�Cnllat�rala.c�uic«nszrsancW
�� ��w;�a��r47��^���+"p�SM�� [�ChangeC.ar�rara4eN�me � �hanyeaf�s�tagaryt�.m.huhe�awvpin�n�.rwa�r) [� �anag�men�lOperaurrgd�greement
� Trust es) p Q Qther� . ..�. .... [� Change af M4aurs
� �.t,n�u ���f C�C�a+;���p Chan e of t7wnershl Mtzrest Issuarrcn(I"ronsfer pf StocWNew SRock nld�r
���� Y"��r�wrda���"��4.C�d�mf°�,�^���rm Q (�LCf�temberslLLPParYners� .�
.� � CharrgeolD6A
klik��s��kak��a�Ra�sikbhai pa � �. ���� W � �
"VOTED; Tp authorize � tel �
.. ....... ..... ....... ..... . ...... „
Name of�'erson
to slgn the appllcatlan submitted and to execute an the �ntlty's behalf, any necessa�ry papers and
do all things required ta have the applicatlan granted,"
.. .._ �..���.. ..._ ..
"VOTED:To appolnt ���a�!r�Illp�atal �
Name�f I,lquor Llcense Manager
as its manager af recard, and hereby grant hirn or her with ful! authority and cpntral of th�
prernises described in the license and authrarity and cantral af the canduct af all business
therein as the licensee itself cauld in any way have and exercise if it were a natural person
residing in the Commonwealth af Massachusetts,"
(�a�t�c;�N��?�:.�.����,�.���w`�
A tru�copy attest, A true copy attesfi,
����� �tl
� ��,
Cr�rporate Officer/LLC Man��.�......�..���.�� g
�.. ...m..., .N...
ager Slgnature CQrporatlon Cierk's S) na�u��� ���
re
Hiteshbhai Patel
._Print......_�.�.�a� ........ . .��.e. ..�w� Pri�n_�.��.........._..,.�. �
( Namej ( t Name)
EAGLE BA�K
PROMISSORY N(7TE
Loat�No. . �.__..._._._...................
$685,000.00 Everett, MassachLisetts
....................---�
�zaz�
For value received, SS Peari Investment LLC ("Barrower�"), a Massachusetts limited liability company,
with an address of 83 Hartwcll Ave Lexingtan, Massachusetts 02421, promises to pay ta the arder of Eagle
Bank, l�aving a tnailir7g address af 350 Broadway, Everett, MA 02149 (`Bank"}, ar such ather place as tl�e holder
hereof shall designate, the principal sum af SIX HUNDRET! ETGHTY-FIVE THCIUSAND DCILLAI2S AND
ZERO CENTS ($685,000.00) tagether with interest tl�erean, in arrears, fram tl�e date hereof until �_rmITITITITITIT�
2028 (the "Maturity Date") at a fixed rate eqL�al ta 4.p9°/n per annu�n, payable as ta principal and interest i��
cor7secutive rnonthly installrnents begirlr7in� .._._..............._ ........ .......� 2021 and contiz�uing or7 t}�e same day of e�cti
calendar montl� thereafter until the Maturity Date. Each installment to be in tl�e amau��t of $ww wwvvvvvvvvww_�. The
faregaing payments are based an a 7 year amortization sclledule. On the Maturity Date a11 unpaid principal,
interest and ather charges shall be due and payable in full, if nat saar7ei•due hereunder.
I�tterest s}7all be calculated on the basis of actual days elapsed at�d a 360-day year. All payments sl�all be
appried first ta accr��ed interest and other charges due hereunder and the balance, if any,to principal.
The Sorrawer and each endarser and guarantor af this Note agree ta pay, upon demand, casts af
colleetian of all a�naunts under tivs Nate inciuding, witl�out limitation, principal and i�7terest, or in cannection
with the enforcement of, or• realizatian on, any security for this Note, including, without lirnitatian, to the extent
pern�itted by applicable law, reasor7able attorneys' fees and expenses. If a�iy payment hereunder is nat paid within
ten (10) days af the date when due, whether an a stated due date or upon acceleration, (i) such overdue ar��aunt
shall thereafter bea�r interest unti) paici in full at a rate per anr7u�n equal to 5% above the rate of interest otherwise
in effect from time ta time hereunder, payable an demand, and (ii) the undersigned shall pay the halder a late
payment charge equal to 5% of the averdue amount, payable on demand. Upan the occurrence and during the
continuance of an Event af I7efault, interest shall accrue at a rate pe�• annum equal ta the aggregate of 5.0% plus
the rate provided for herein.
This rlote shall, at the optian of the halder, becorne immediately due and payable withot�t fi�rther nc�tice
or de�nand upan the accurrence of any of the fallawing events(each, an"Event af Default"}:
(a) Default in the payment or perfarmance, when due ar payable, of any Obligatian by the BorroWer
or any endorser, guarantar ar surety far any Obli�ation and such failure has nat been cured witl� ten (10) days
after written notice, provided that if Bank has given two such notices in any twelve month period under this
subsection (a),then na further natice ar cure periad shall be provided under this subsection (a),
(b) Failure ta perform ar satisfy any ather conditiary, undertaki�7g, a�reernent ar cavenant
hereinabove, ar in any ather agreement af the Ban�ower with the Bank, stated to be perfarmed or satisfied by
follawin�writtet�ttotice.
(c) Failure for tl7irty (30) days after writtzn i�otice to perforn�r or satisfy any other coi�dit�ior�,
undertaking,agreement or covenant to be perfarmed ar satisfied by it.
(d) Any staiement, representation ar warranty tnada or fur��'rshed now or hereafter made to the holder
by or on behalf of any maker, endorser or guarantor in any writing furnished or in any supporting financial
staternent af the Barrower in connection with ar pursuant ta this Agreernent shall p7•ave tc� be incarrect ar
misleading in any material respect as of the time made or furnished.
(e) Default (beyond any applicable natice and cure periad) by the Barrawer in tl�e payment ar
performance of any ather Iiability, abli�atian, candition, undertaking, agreement or covenant, af every kind and
description,of the Camparry or any Subsidiary to the Bank, or default by at�y endarser, guarantar or surety for any
abligation of tlie Campany to the Bank in the payment ar per•formance af its obligation as endarser, guarantar or
surety of aily obligati�n of the Company to tl�e Bal�k.
(f) Any ather obligation of the �arrawer ar any endarser, guarantc,r or surety far any Obligatian
s}7all t�e in default or sha11 t7ot have beery paid�✓hen dae fallowing ar�y applicable r7otice and cure period, whetl7er
by acceleration ar otherwise, or shall be declared ta be due and payable, or shall be required ta be prepaid {ather
than by a regularly scheduled prepayment), prior ta tl�e stated maturity thereof.
(�;) Failure to discharge any attachment, levy or distraint an any property af the Borrower or at�y
endorser, guarantar or surety for any Obligation.
(h) Any judgment is issued or rendered against the Barrower or any endorser, guarantar or surety for
any C7blig�tion in an amaunt in excess of$10,aoo.00.
(i) The occurrence of any af follawing by, against ar with respect ta the Borrawer aY• any endorser,
guarantor or surety far�aY7y(7bligation: Dissolu�tion, terminatior� c�f existei�ce, deatl7 or itisolvency; or appoint�nent
af a receiver of any praperty af substantial valt�e, or a camman law assign►nent or trust mortgage for the benefit
of creditors; ar t17e fitin� crf a p�tition i�r7 t�arykruptcy or t17e com�7�ei7cen7ent of any proceedin�s under az7y
bankruptcy or insalvency laws ar any law relating ta the relief af debtors, readjustment of indebtedness,
reorganization, campositian or extension; provided however, in the case of the filing of a petition in bankruptcy or
the cornmencement of a17y such proceedings against the Borrawer, the Borrower shall have tllirty (30) days fram
the da�e of such filin�or the commencement of such proceedin�s to dismiss such praceedirigs �r�svi���,e�, C�,��,�����ve���,
the death or legal incapacity af a guarantar shall not canstitute an Event of Default provided that Bank sl�all have
received a guaranty fram a replacement guarantar satisfactc,ry to Bank in its sole discretian within thirty(30)days
followii7g tt7e cleath or legar incapacity�f suct7 guarantar.
(j) There shall occur a default (after applicable notice a»c� cure period) under any loan document
executed in connectian with the Loan.
(k) Failure by any guarantor of any of t17e Obligations to pay or perfor•m any liab�lity, obligatia�7,
condition,understanding, agreement or covenant af every kind and descriptian, of such guarantor ta tlie Bank,
(I) Failure by any Company/Borrower and/or Guarantar af the Loan to deliver ta the Bank on an
annual basis financiat a�7d cur►•ent personal financial staten7eirt{s) i« form satisfactary ta the Bank and a copy of
the most recently�led Federal Tncome Tax Return(s}in the timefranxe stated in the LOAN AGItEEMENT,
(m) Failure by the Borrower, or any endarser, guarantor or surety far any abligatian af tl�e Company
to the$ank,to file any tax return ar to pay or remit any tax,when ciue.
(n) There shall occur a change in the ownership, or cantral of the Barrower which, in the apinion of
tl�e Bar�k, is mater�al or significant.
(a) Failure of the Borrower ta perfarin or satisfy any conditio», undertaking, agreetnent ar cavenai�t
sei farkh in any agreement between t1�e Borrower and the Bank faliowing any applicable not'rce and cure periad.
(p) The service upan the Bank of a writ in which the Bank is narned as trustee a1'the Company or a�ry
guarantor ofttle Obligatians.
2
(q) T17e ter�mination or revocatic��7 of any guaT�anty of tihe O�ligations.
(r) Tl7e occurrence af suc11 a chat�ge in �he condition or• af-�airs (fina��cial or otlrer�wise) of the
Company or any guarantor af the C7bligatio��s, or the accurrence of any other event or circurnstance, sucl� that the
Bank, in its sole discretion, deems that it is insecure ar that the prospects for timely or full payment or
perfarmance af any obligatio�� af the Campany ar any guara��tc�r af the Obligatic�ns to the Bank has been ar may
be impaired.
This Note may be prepaici in whole or in park upon thirty (30) ctays priar written natice to the Bank. In
the event af any prepaytrrent af this Nate, whether by valuntary prepayment, acceleratiai7 ar ntherwise, ti�e
Barr�wer shall, at tl�e aption af tlae Bank, pay a prepayment cllarge equal to the praduct af: (a) the principal
amount prepaid and(b)the percentage set fartl� below far any prepayment made duri»g the indicateci tin�efrairre:
Three(3%}percent from the date hereof thraugh and it�cluding 2022;
Two(2%)percent fram._____...................................2022 through and including„� ww___....___.._2023; and
One(1%)percent from _________________w..__.,v�_...,.2023 through and including 2024,
In the event any partial prepayment of this Note is permitted, it sh�ll be applied ta installments hereof in
tl�e inverse order of rnaturity.
Any deposits ar ather sums at any time credited by or due fram the holder to a�iy maker, enciarser or
guarantar af this 1'�ate, and any securities ar athex�pro�erty of any such maker, endarser or guarantar at any tin�e
in the possession of the holder may at all times be held and treated as collateral for the payment of this Note anci
the paytnent and perfarrnance af any and all ather obligatians, (direct ar indirect, absalute or coiltingent, sale,
joint ar several, due or to become due, now existin� or hereafter arising) of any such maker ta the holder,
Regardless of the adequacy af callateral, the l�alder may apply ar set off sucl� deposits ar other su�ms against suc}7
abligations, at any time in the case af makers but only with respect ta matured abtigations in the case of endars�rs
and guarantars.
Every rnaker, endorser or guarantar liereof l�ereby waives presenti�lent, cieirtand, notice and pratest and all
other demands and notices in connectian with the delivery, acceptance, perforrnance, default ar enforcement
hereaf or of any callateral, and assents to any extension ar postponement of the time of payment ar other
indulgence under this Nate ar with respect ta any callateral, and to any substitution, exchan�;e ar release of
collateral, ar the discharge of any party primarily or secondarily liable hereon. Na delay or amissian an the part
of the holder in exercisin�any right hereunder shail aperate as a waiver af such rigl�t ar any other right hereunder,
and a waiver of any such right on c�ne accasion shall not be canstrued as a bar to or waiver c�f any such rigFrt on
any future occasion.
This Nate is secured by any ancl all collateral at any time granted ta Bank to secuce any obligations af any
rnaker hereaf. In the event this Nate is signed by more than one person, all abligations hereunder shali be joint
and several.
The ��nk may, without notice ta ar consent af any person (including withaut limitation Borrower or any
guarantar), sell, assigl�, grant a participation in or atherwise dispose af all c�r any poi�tian af this htote and all ather
loan documents re�ated thereto. rn connection therewith, the Bank rnay disclose ta a prospective purchaser,
assignee, participant or transferee any infartnation pc�ssessed by the Bank relating to this loan and the callateral
securing the loa�z.
Every rnaker, endarser, and guarantar hereaf agrees,jaintly and severally,to pay an demand all custs and
expenses (incl�iding legal costs and attorneys' fees) incurred or paid by the holder in enforcing this Nate. This
3
Note shall be gerveri7ed�y the laws of tl�e Cot�7►r�orrwealt�h of Massacl7usetts, artd s17a11 take effect as arr ii�struntet�t
under seal.
Wrtr�ess: S5 Pearl investment LLC
&'�� .
.........�.. .... _... ....... ......... . ..... ....... ... .......
Hitesh Patel,Maytager
4
PLEDGE AGREEMENT(LIQU(JR LICEIVSE)
This Pledge Agreement (Liquor License) (this "Agreement") is rnade and entered into as of the
______,day af , 2021, by SS �'earl Investment LLC, a Massachusetts limited liability cotnpai�y,
with a principal af`fice and place of bl�siness at 55 Bedfard Street, Lexingtcrn, MA Q2421 {"Ptedgor"), for
the benefit of EAGLE BA1VK, having a mailing address af 350 Braadway, Everett, MA 02149
("Pledgee").
RECiTALS
WHEREAS, Pledgee has agreed ta extend a �685,pOp.00 term loan tcr Pledgar (the "Loan"), as
evidenced by (i) a certain prarnissoty nate forn� Pledgor, as maker, payable to the order of payee, in the
original principal amount of�6$S,OQ0.00, dated as af the date hereof(as it may be extended, atnended,
restated or replaced from time to tirne,the"Note"}; and
WIIEI2EAS, the Loan is further evidenced and secured by, amang ather things, a Loan and
Security Agr•eer�ent between Pled�c�r ar�d Pledgee dated as af tl7e date I�ereaf(as it may be amended,
supplemented, restated ar replaced from time ta #ime, the "Laan Agreement") and various ather
a�;7�ee»�er7ts, ii�strui77er��ts and dacurnents executed ar7d dzlivered �y P1edg�or to F'ledgee (collect�ively, this
Agreement, the Nate, the Loan Agreement and all ather documents ncrw existing or hereafter executed in
coi�nectio�� with the Laan, as each �nay be airtei�ded, extended, rest�ted or replaced fram time to time, are
referred to hereu7 as t17e"Loan llacuments"); and
WHER�AS, as a conditian px�ecedent to extending the Loan at�d as furtl�er security far Pledgar's
abligations under the Laan Dc�cuments,Pledgee reqliires Pledgor to pravide a first priority lien and security
i��7terest i�7 t}�e Collateral (as defined below),
NOW TH�REFORE, in consideration of the faregoing ar�d far other good and valuabie
cansiderati�n, the receipt and sufficiency of which are, by the execution hereof, hereby acknawledged,
Pledgor hereby covenants,represents, warrants, understands and agrees as fallows:
SECTION 1. PLEDGE
As coilateral security for the due and punct��al payment and performance af any�nd all obligations
a�Yd liak�ilities oP Pledgor to Pledgee urlder ttze Note and the other Loan Docurnents, whether�7ow existirtg
or hereafter arising, direct ar indirect, absalute or cc�ntingent, primary ar secondary, and further including
all costs, expe��ses and attarneys' and ather prafessionai fees incurred by Pledgee in cannection with the
enforcement of" the I.,oan Dcrcuments, including, withaut 1ilnytation, callect�ic�n af the i�Ydebteciness
evidenced by the Note(l�ereinafter callectively referred to as the"O��I��IICJIIS55), Pledgor hereby pledges,
hypothecates and assiglzs ta Pledgee and grat�ts ta Pledgee a�rst lien security interest ii�the failowing:
(a) The entir•e rigt�t, title and intet�est of Pledgo7� in each ar7d �vety alcotzolic liq��or
license naw awnad or hereaf"ter acquired, and each and every other or future license given
ar obtairred by Pledgor, ar atherwise, as such licenses t�lay be renewed, altered, extended
crr arnended fram time to tirne, including, withaut limi#atian, .411 AIcal�olic Beverages
License Na issued by the Tawn of Lexingtan Licensin� Boarcl to
................... mm...w..m,._._v......._
be used i�x cant�ection with aperatinn of a liquor stare lacated at S5 Bedford Street,
Lexintgan, Massachusetts (callectively,the"Liqaar License"); and
.�_
(b) all general inta�7gibles and t�ights associated wrtl7,and all pr•ooeeds of,t17e fcrregc�ing
(together with the Liquor License and other items described in subsections(a)and(b)being
hereir7 collectively called the `�Catlatera►1").
For and during the ter�n af this Agreement,Pledgar a�;rees that Pleci�ar stlall not issue any security
inte�•est of any type, nature or description in and to the License ar other Callateral ta any other party, it
being inteY�ded that for and during all sucl�timzs as ai�y of the Obligations are outstanding,the Callateral
shall be subject to this Ag�•eement only, and to na ather(iens,claims or ei�cumbrances.
SCCTIC►N 2. REPRESEl"�1TATIONS
Pledgor l�ereby represeYtts and warz•ants ta Pledgee as f�llows:
(a) P1ed�;or is the sole Iegal and beneficial awner of tl�e Collater•a1, and that na lien, cl�arge,
indebtedness, encumbrance or other security interest exists against any of the Collateral (other than under
this Agreement);
(b) Pledgar has full pawer and authority to enter into and perform the abligations under this
Agree�nent, ta niake the pledge and grant tl�e liens conte�nplated herein, ta execute at�d deliver this
Agreement and any ather documents executec�in cannectian herewith,and to inaur the abligations pravicied
far herein, all af which l�ave duly autharized by all necessary and p►�oper carporate ar otl7er actian. i�Io
other consent or approval or the taking ofany other action in respect ofthe members ar managers af Pledgar
or af any public authority is requi�•ed to be obtained by Pledgor as a canditian to t17e validity ar
enfarceability afthis Agreement or any ather document executed in cannectian herewith;
(c) tl�e Callateral is duly and validly pledged ta Pledgee in accardance with law;
(d) Pledgor wilr cieferyd Pledgee's righti and security interest iy7 and to rhe Col1ateral against t17e
claims and demands of all persons whomsoever. Pledgor sha11, upon the reqliest af Pledgee from time to
tirne, make, execute and deliver any ar7d ali irt�strurnetits and dacumer7ts arYd take all such atl�e�•and further
actian 1s Plecigee may reasanably require in order ta perfect ar otherwise vest in Pledgee mare securely any
of the rights or inte��ests granted to� Pledgee l7ereunder and otl7erwise to carry aut tl7e purpase crf t17is
A�reement;
(e) Pledgor will nat sell,canvey ar otherwise dispose ofany afthe Collateral,nor will it create,
incur or permit to exist any pledge,mortgage,lien,charge,encumbrance ar any security interest whatsoever
with respect to any af the Callateral ar tlxe proceeds thereaf;
(f� no coi7sent or approval ar the taking af any other action in respect of any pariy ar of any
public authority is reyuireci as a conclition ta tlle validity ar enforceability af this Agreement; and
(g) the execution, delivery and performance hereof, and the pledge and assi�;nment of and
granting of a secut�ity interest in the Callateral hereandet� do not cor�rtravene any law, rule or regulatio�� ay�
any provisian of any judgment, decree ar arder of any tribunal or of any agreement ar instrurnent to which
Pledgor is a party or by which Pledgor ar any of the Collateral is bound or affected ar constitute a default
thereunder.
_Z_
SECTION 3. REGISTR�,.TIdN; USE BEFOR:C DEFAULT; CfJVENAi�1TS.
(a) P1ed�;ee acting alane at a�Yy tirne fallc�wing an Event of Default m��direct Pledgar ta have
ar�y af the Callateral registered in its��ame,ar in the names of its naminee or naminees,witih the apprapriate
legal autharity. Al] docu���ents evidencit�g the Liquor Lice»se shall bear a legend identifying the pledge of
the Liquor Licet7se and the security interest created hereby.
(b) Unless and unt'rl a1� Event of Default sl�all occur and continue beyand any applicable cure
period,Pledgor shall be entitled to exercise a1l rights and powers under the Liquc�r License�s awner thereaf;
pravided,hawever,tl�at Pled�ar shall obsetve and perfarm all duties and obligatians necessary ar rec�uired
to maintain tl�e Liql�ar License in goad standing with all apprapri�te municipal and state authorities having
.'lurisdictio��tl7ereof.
(c) Pledgor agrees to e�ecute and/ar deliver such other further and additianal docunlents and
instrum�nts as Pledgee deems reasonably necessary ar appropriate ta further evidence and/or perfect the
pledge af the License to Pledgee and/or Pledgee's successors and assigns.
(d) Pledgcrr agrees that it shall (i} conducf its restaurant business in accardance with all
applicable laws, rales and regulations, (ii) maintair�7 �n full farce and effect al[ suct� liceY�ses, per�nits and
authorizatians as are required by gavernmental aL►thorities in the canduct of its business, and (iii) use its
best efforts ta protect Pledgee's interest hereunder.
(e) Pledgor s}1a11 pay, witl�hold, callect and remit all such taxes as are required by law when
due and payable and shall pay all a,lcoholic beverage taxes and bills incurred in khe conduct of its business.
pledgor agrees ta notiiy P'ledgee in writing,v✓itha�t delay, ir�the ever�t that F'ledgor is listed as delil�quent
oY1 t17e Alcaholic Beverages Ccrntrol Ccr►nmission list ur�der• M.G.L. c.138, �25, arid to effect its removal
fram such list within seven(7)days after natification. Failure ta da so shall constitute an Event of Default
he�•eu�7der.
(f� P1ed�;ar agrees to natify Pledgee af all changes in officers, directars, and sharehotders af
the Pledgar, all of which changes, to the extent required by applicable law, shall be duly appraved by the
City af Bostan licensing baard and the Alcaholic Beverages Cantrol Commissian (callectively, the
"Licensing Autharities'°). In the event of any such change which requires approval of any afthe Licensing
Authorities, art�y documents reqLiested by Pledgee, as appropriate, shall be furnished witl�out delay to
Pledgee by Pledgar.
SECTICEN 4. DEFAULT
Any and all Obligatians shall, at the aption of Pledgee, become imtrrediately due ai7d payabie
without natice or demanci upon the occurrence and during the continuance of any of the fallawing events
af default(each a�r"Event af T)efaalt"):
(a) an Event of Default under the Loan Documents; ar
(b) a breach or defauit l�y Pledgor of any of the terms anci conditions hereunder which is not
cured within thirty(30)days after written natice; at•
(c) if any third party n�akes any claitn against the Collateral ar if any everrt accurs whicl7
threatens the v�lue or security of tl�e Callater�l ar challenges Pledgee's rights thereto or
thereirl.
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S�CTIdN 5. REMEDIES
If any Evet�t of Default shall have occurred and remain uncured beyond any applicable cure period,
in additian ta any rights and remedies af a secured party under the Unifarm Commercial Code as in effect
at the time in The Commonwealtl�of Massacliusetts,Pledgee may,without being requirecl to give any natice
�xcept as hereinafter provided, (i) exercise its rights with respect ta the Collateral witl�aut resorting ar
regard tcr, other collater�l or sec�trity far tlie Obli�ations, (ii) cause the Cc�llateral ta �re transferred ta
Pledgee's naYne ar to the name of its�xominee a1�7d thereafte►�exercise as to sucl��Collateral all t17e rights and
remedies provided at law and ec�uity,and/or(iii)a�ply the cash,ifany,then held by it as callateral hereunder
to tl�e payn�e�7t af the Obligations in such man»er and order af priority as Pledgee shall detert7�ine, in its
sole discretion, and if there sha11 be no such cash ar the cash sa ap�lied shall be insufficient to pay in f�►11
all sucl� Obligatians, sell the Cc�ilateral, ar ar7y p�rt thereaf, at public or private sale, far cash, upan credit
ar far future delivery, ancl at such price ar prices as Pledgee may deern satisfactary, and Pledgee may be
t17e purchaser af at�y artd ail af the Collateral sa sald and thereafter hald t}7e sar7�e,absolutely,free fi•am any
right or claim of whatsaever kind. Pledgee is authorized,at any such sale, if it deems it advisable sa to do,
to restrict the praspective bidders ar purchasers ta persans wha will represent and agree tllat they are
purchasing far•their own accpunt, for rnvestment, and nat with a view to t}�e distribution or• sale of any of
tk7e Callateral. Upon any such sale,Fledgee shall have the right ta deliver,assign and transfer the Collatera)
so sald to the purchaser thereof. Each purchaser at any such sale shall }1c�ld the property sold absalutely,
free frorn ai�y claim or right of any I�ind whatsoever,including any eq��ity or right afredemption,ofPledgor,
who hereby specifically waives all r'rghts af redelnption, stay ar appraisal whic}� it llas or may have ur�der
any rule of law or st�tute now existing or hereafter adapted. Pledgee shall give Pledgar fifteen (15) days
writter7 notice af intention to make any sucl� public or private sale ar sale. At any such sale the Collateral
may be sold in one lot as an entirety ar in separate parts, as Pledgee may determine. Pledgee shall nat be
obligated to make any sale pursuant to any such natice. Pledgee may withaut notice or publication adjaurn
any pubric or private s�le ar cause the sama ta be adjourned from tirne to time by annauncement at the time
and place fixecl for the sale, arid such sale may be made at any time ar place to w}7ich the satr�e inay be sa
adjourned. In case af any sale af all or any part af ttie Callateral on credit or fo►• future delivery, the
Collateral sa sold may be retained by Pledgee until the se11i»g price is paid by the purchaser thereof, but
�'ledgee shall nat incur any liability in case af the failure of such purchaser to take up and pay for the
Collateral sa sald and, in case of any such failure, sucl� Coliateral may again be sold upon like notice.
Pledgee, hawever, instead of exercisin�the power af sale herein conferred upan it, may proceed by a suit
crr suits at law or in equity to foreclase this Agreetnent and sell the Collateral,or any partion thereaf, unc�er
a judgment or clecree af a caurt ar cau�ts of competent jarisdictiar�, Pledgor l�avit�g bee77 given due nc�tice
caf all such action.
SECTION 6. APPLICATIClN CMF PT�OCEEDS
The praceeds af any sale af all ar any part af the Collateral, and any other casll at the time helci by
Pledgee under this Agreei�-�ent, shall be applied by Pled�ee:
(a) first, ta the payrnei�t af the costs anci expenses af such sale, including reasanab]e
cornpensatian to Pledgee's agents and counseM,and all expenses, 1`rabilities and advances tnacle or incurred
by Flecigee in cannection therewith;
(b) seconc�,to the payinent ofth�Obligations; and
(c) third, to the payment to Pledgor, ar Pled�or°s successors ar assigns, ar as a caurt of
-4-
carn��tent jurisdictian rnay direct, of a»y surplus then ret77ai�7ii�g fi�on7 such proceecis.
SECTION 7. ATTOl21�EY-IN-FACT
Pledgee is hereby appointed the attorney-in-fact for Pledgor far the purpose of carryir�g out tlie
provisions ofthis Agreemer�t ar7d takin�any actian and executing any instruments which Pledg�r may deem
necessary or advisable ta accomplish the putpase hereof, which appointment as attarney-in-fact is
irrevocable and couplec� witl� an ir�terest. Witl�out limiti��g the ger�e��ality crf'tY►e �oregoi�7�;, P'ledgee sl7all
have the righ� �nd power ta; withdraw, transfer and renew the Collateral; to execute endorsernents,
assig�7n��ents, ot�other instrume�i7ts of conveyatice or t�ra�7sfe��with respect to ar�y o��a11 of tl�Ye Co1lat�ra1; to
receive, endorse and collect a11 checks made payable ta tl7e arder af the Pled�or representin� any
disYribution i��i respec;t of th� C�1lateral or any part th�reof, anci to give fuli disc}�arge of the same.
Additianally,Plecl�or hereby authorizes Pledg�e to iile ane ar more L]CC financing statements in the��ame
of Pleci�;or, as debtor,to evidence the pledge granted hereby withaut a signature of Pledgor.
SECTIC)N 8. NO DUTY
8eyot�d the exercise of reasonat�le care ta assure the safe custody of the Callateral while held
hereuncler, under no circurnstances sl�all Pledgee be deemed to assame any respansibility for or al�ligatian
crr duty with respect ta any part c�r all afthe Collateral of any nature ar kind ar any matter or prc�ceedings
arisii7g ouY of or relating thereto. Pledgee shall have r�o duty or liability ta collect�a�ty slirns due irt respect
thereof ar to pratect ar preserve its or Pledgar's rights pertaining thereta, and shall be relieved of all
responsibility far at7y af the Callateral upon surrenderin�;the same ta Pled�ar.
SECTIOlV 9. NO WAIVEIt
No course of dealing betweet� Pledgor and Pledgee, nor any failure on the par( af Pled�ee to
exercise, nar any delay in exercising on the part af Pledgee, any right,pawer or remedy l�ereunder ar with
respect ta any of the Obligations shall operate as a waiver thereaf; nar shall any single or partial exercise
by Pledgee af any right, pawer or remedy hereunder preclude any other or further exercise thereaf ar tl�e
exercise of any ather riglrt,power ar remedy, Pledgee shall not be deemed to have waived any of its rights
vr✓itlY respect ta the Obligations or tl�e Cr,llateral, except by an express written waiver oP sa�ne(whicl-r shall
be specific in nature and in writing,and si�ned by Pledgee). The remedies herein provided at�e cumulative
and n7ay be exercised separately or concuc•rently,and are��at exclusive of any remedies pravided by law.
SECTIdN 10. T�R.MINATIC►N
Upan the fi�ll and indefeasible paytnent ai�d/ar satisfactian of all Obli�atians, all rig��ts, remedies,
dutizs and covenants of Pledgor hereui��der shall, subject ta the provisions set fo�•th Y�elow, cease, To the
extent that Pledgor or any ather pers�n makes a payment or payments ta Pledgee with respect to any�fthe
Obligatrans, or Pled�ee exercises its right of setaff, and such payme��t ar payi7�ents or the proceeds nf such
setaff or any part thereof are subsequently invalidatecl, declared to be fraudulent ar preferential, set aside,
recavered fram,ciisgar•ged by or are required ta be refunded,repaid or atherwise restored to Pledgor or such
otl�er persan, a trustee, receiver or any other persan uncier any law (including, without li�nitation, any
bankruptcy taw, state or fecierai law, comman law or ec�uitable cause of actian) in each case in connection
with any bankruptcy or similar praceeding invalving Piedgar o7•such ather persan,then ia the exte��t of any
such restaration, the Obligations ar �art thereof originally intended to be satisfied sha1) be revived and
continued in f��ll force and effeci as if such payrrtent lxad nat bee�7 made ar suc}� enforcen7er7t or setaff had
not occ�irred, whersupan this ��reernent sha11 be adrtomatically reinstatecl without any further action by
F'ledgo�•andlor the P"ledgee at7d shall cor��tirrue t�t�e fully applicable to sach Clbligations to the san7e exter7t
�s thcrugh the payment so repaid c�r recavered had never been ariginally made crn sueh Obligations. Pledgee
-5.
agrees to sign and deliver to Pledgor such dacuments reasonably requested by Pledgar to effectuate or
evidence release af Pledgee's security interest and lien in and ta the License, upan repayment in full of all
arnounts due u��der the Note and the othe�•Laan I7ocuments.
SECTION 11. NOTICES
Any natice herein provided to be given to Pledgar by Pledgee,and any natice tc�be given by Pledgar
to Pl�elgee, sha11 be delivered as provided for in tYre Loa��Agree�r��nt.
SECTICEN 12. CONSTRUCTION; T3Il'�DING EFFECT; EXECLTTIfJN
This Agreement and all rights and abligations hereunder,itzcluding matters af constructian,validity
and perfortrtance, shall be governed by tl�e laws of the Comrnanwealth af Massact�usetts. This Agreetnent
shall be binding upon and inure to the benefit ofthe parties hereto and their respective{as applicable)heirs,
re�rese�7tatives,successars and assigi�s.Any signature an this Agreetnent which is transmitted as a facsimile
ar as a scanned dacument or image (includin�, withaut limitatian, in any °`pdf', ".JPg'>, ".tiff', ".brnp"
44.pI�g", ".gif' and/or any ather electranically-formatted image andlor docurnent) shall be dee►ned a valid
and binding signature of Pledgor,with the sarne effect as if a rnanually signed original signature of Pledgor�.
IN WITNESS WHEIiEOF, Pledgar has caused this Pledge Agreement ta be duly executed as af
the day and year first above writtei�.
WITNESS TO ALL PLEDGOR:
SrGNATURES: SS Pearl ]t�vestment LLC
................_......... ............................ ....__.._......_.... By: _................. ...... ........ .... ......,...._ ...._.
Name: Nitesh Patel, Manager
�6-
� The Commonwealth of Massachusetts
Alcoholic Beverages Control Commission
95 Fourth Street,Suite 3, Chelsea,MA 02150-2358
www mass gov/abcc
APPLICATION FOR A TRANSFER OF LICENSE
Municipality Lexington,MA �
1.TRANSACTION IWFORMATION � g ry � Change of Class
Pled e of Invento
X❑Transfer of License � Pledge of License ❑ Change of Category
❑ Alteration af Premises � pledge of Stock Change of License Type
❑ Change of Location � (§12 ONLY,e. ."club"ta"restaurant")
❑ Management/Operating Agreement ❑ Other
Please provide a narrative overview of the transaction(s)being applied for.On-premises applicants should also provide a description of
the intended theme or concept of the business operation.Attach additional pages,if necessary.
Transfer of Section 15 All Alcoholic Beverages Package Store License to be used at same retail location at SS Bedford Street,l.exington,MA 02421.
2. LICENSE CLASSIFICATION INFORMATIOhI
ON,,,OFF-PREMISE5 TYPE � CA7EGORY G�qS,s
-Premises-15 + §15 Package Store � � II Alcoholic Beverages � nnual •
3. BUSINESS ENTITY INFORMATION
The entity that will be issued the license and have operationai cantrol of the premises.
Current or Seller's�icense Number 00015-PK-0612 FEIN 86-252858 �
Entity Name 5 Pear)Investment LLC
DBA Busa Brothers Liquors � Manager of Record Nikul Dilip Patel
Street Address 55 Bedfard Street,Lexington,MA 02420
Phane 17-633-1463 � -� Email Nikul@jamsan.us
Add'I Phone N/A � �� Website N/A
4. DESCRIPTION OF PREMISES
Please provide a complete descriptian of the premises to be licensed,including the number of floors,number of rooms on each floor,any
outdoor areas to be included in the licensed area,and total square faotage.If this application alters the current premises,provide the
specific changes from the last approved description. You must also submit a floor plan.
Retail stare consisting of 4,700 square feet which is comprised of 1 floor plus a basement for storage. A total of 3 rooms.
Hours of operation will be Monday to Saturday 8:00 a.m.to 11:00 p.m. and Sunday 10:00 a.m.to 9:00 p.m.
Total 5q.Footage 4,700 Seating Capacity N/A Occupancy Number N/A
Nurnber of Entrances L______� Number of Exits 3 --...... Number of Floors I]`�
-� L �I
1
APPLICATION FOR A TRANSFER OF LICENSE
5. CURRENT OFFICERS, STOCK OR UWNERSHIP INTEREST
By what means is the
Transferor Entity Name Busa Bros.Liquors,Inc. license being Purchase � �
transferred?
List the individuals and entities of the current ownership. Attach additional pages if necessary utilizing the format below.
Name of Principal Title/Position Percenta e of Ownershi
Daniel P.Busa,Jr. President 100%
Name of Princi al Title/Position Percenta e of Ownership
Name of Principal Title/Position Percentage of Ownership
-- �
Name af Princi al Title/Position Percenta e of Ownership
_ �
Name of Princi al Title/Position Percentac e of Ownership
fi. PROPOSED OFFICERS. STOCK OR OWNERSHIP INTEREST
List all individuals or entities that will have a direct or indirect,beneficial or financial interest in this license(E.g.5tackholders,Officers,
pirectors,�LC Managers,LLC Members,LLP Partners,Trustees etc.).Attach additional page(s)provided,if necessary,utilizing Addendum
A.
• The individuals and titles listed in this section must be identical ta thase filed with the Massachusetts Secretary of State.
• The individuals identified in this section,as well as the proposed Manager of Record,must complete a CORI Release Form.
• Please note the following statutory requirements for Directors and LLC Managers:
On Premises(E.g.Restaurant/CIub/Hoteq Directars or�LG Managers -At least 50%must be US citizens;
Off Premises(Liquor Store)Directars or LLC Managers -All must be US citizens and a majority must be
Massachusetts residents.
• If you are a Multi-Tiered Organization,please attach a flow chart identifying each corporate interest and the individual owners of
each entity as well as the Articles of Organization for each corporate entity. Every individual must be identified in Addendum A.
Name of Princi al Residential Address SSN DOB
— �� ��y,���,��
iteshbhai Rasikbhai Patel 30 Winter Street,Lexington,MA 02420
Title and or Position,_ Percenta e of Ownershi Director/LLC Manager US Citizen MA Resident
Manager,Member _ 55% (:Yes (`No (:Yes (""' No (:Yes (" No
Name of Princi al _�_ Residential Address SSN DOB
li,Vi ii iil� ������iip u iei
arshkumar Soni 440 Bedford Street,Lexington,MA 02420 � I II'�1, I
Title and or Position _ Percenta e of Ownershi Director/LLC Manager US Citizen MA Resident
C�� ................, �.��
Member 35% (`Yes (: No ('Yes (:No (:Yes (`No
Name of Principal Residential Address SSN DOB
�i����I��;�i �����i�,
avi Patel 259 Westford Road,Tyngsborough,MA 01879 � !I II I I � I I
Title and or Position Percentaye of Ownershi Director/LLC Manager US Citizen MA Resident
Member 5% ("Yes C:No C'Yes C:No �Yes C'No
Name of Principal Residential Address SSN DOB
. !��Y11J,i' i,----
Parth Patel 0 Bedford Street,Lexington,MA 02420 ��� I
Title and or Position _ Percenta e of Ownershi Director/LLC Manager US Citizen MA Resident
Member __� 5/o (`Yes (: No ("`Yes C:Na (:Yes ('No
_,,, _. �
APPLICATION FOR A TRANSFER OF LICENSE
6. PROPOSED OFFICERS, STOCK OR OWNERSHIP INTEREST1Continued...�
Name of Princi al Residential Address SSN DOB
� ��
Titl,e and or Position ., Percenta e of Ownershi Director/�LC Manager US Citizen MA Resident
� ,,,,,,,,,, , �
C:Yes C No CC Yes ('N� CC Yes C'No
Name of Principal Residential Address SSN DOB
......................�
Title and ar Pasition Percenta e af Ownershi Director/LLC Manager US Citizen MA Resident
('Yes (" No C Yes (` No ("Yes (`'No
Name of Princi al Residential Address SSN DOB
� �_____� ���
Title�sition __ Percenta e of Ownershi Diredor/LLC Manager US Citizen MA Resident
('Yes (' No (` Yes (`No (`Yes �`No
Additional pages attached? (`Yes (: No
CRIMINAL HISTORY
Has any individual listed in question 6,and applicable attachments,ever been convicted of a C`Yes (:No
State,Federal ar Military Crime?If yes,attach an affidavit providing the details of any and all convictions.
6A. INTEREST M AN ALCOHOLIC BEVERAGES�ICENSE
Does any individual or entity identified in question 6,and applicable attachments, have any direct or indirect,beneficial or financial
interest in any other license to sell alcohalic beverages? Yes ❑ Na �X If yes,list in table below.Attach additional pages,if
necessary,utilizing the table format below.
Name License Type License Name Municipality
None
6B. PREVIOUSLY HELQ INTEREST IN AN AICOHOLIC BEVERAGE5 LICEN5E
Has any individual or entity identified in question 6,and applicable attachments,ever held a direct or indirect,beneficial or financial
interest in a license to sell alcoholic beverages,which is not presently held? Yes ❑ No ❑X
if yes,list in table below.Attach additional pages,if necessary,utilizing the table format below.
Name LicenseType License Name
None
3
APPLICATION FOR A TRANSFER OF LICENSE
6C.OISCLOSURE OF LICENSE DISCIPLINARY ACTION
Have any of the disclosed licenses listed in question 6Aor 66 ever been suspended,revoked or cancelled?
Yes ❑ No � If yes,list in table below.Attach additional pages,if necessary,utilizing the table format below.
Date of Action Name of License City Reason for suspension,revocation or cancellation
7. CORPORATE STRUCTURE
Entity Legal Structure LlC � Date of Incorporation 2/19/2021 ��
State of Incorporation Massachusetts �
Is the Corporation publicly traded? (~Yes � No
8. OCCUPANCY OF PREMISES
Please complete all fields in this section. Please provide proof of legal occupancy of the premises.
• If the applicant entity owns the premises,a deed is required.
• If leasing or renting the premises,a signed copy of the lease is required.
• If the lease is contingent on the approval of this license,and a signed lease is not available,a copy of the unsigned lease and a letter
of intent to lease,signed by the applicant and the landlard,is required.
• If the real estate and business are owned by the same individuals listed in question 6, either individually or through separate
business entities,a signed copy of a lease between the two entities is required.
Please indicate by what means the applicant will occupy the premises �`— �
(�ease •
Landlord Name 53-55 Bedford Street,No.2,LLC
Landlord Phone 781-862-9700 Ex.212 Landlord Email fn@sumrp.corn '—�
Landlord Address c/o Winslow Property Management,80 Hayden Avenue,Lexingtan,MA 02421
Lease Beginning Date April 2021 � Rent per Month S8,815.42
Lease Ending Date April 2031 � Rent per Year $105,785.04 �
Will the Landlord receive revenue based on percentage of alcohol sales? ("Yes (. No
9. APPIICATION CONTACT
The applicatian contact is the person who the licensing authorities should contact regarding this application.
Name: Alexander Furey Phone: 617-723-7200 �
Title: Attarney,Considine&Furey,LLP Email: afurey@considinefurey.com
4
APPLICATION FOR A TRANSFER OF LICENSE
10 F,INANCIAL DI$CI.OSURE
. . . �,.uuu . .. ... ... . _.......�. .. .. ....M.. . .... .....
__.,_
A.Purchase Price for Real Estate N/A
._._. ..... ........... ......... .. .... .... ....... .._ .
B Purchase Price for Business Assets 5625,000
_..._... ...... ._ ...............r. ..... ........... .... ..
C.Other�(Please specify) NIA W� �Other:(i.e.Casts associated with License Transaction including
but not limited to: Property price, Business Assets, Renovations
D.Tota)Cost $625 000* mm � costs, Construction costs, Initial Start-up costs, Inventory costs,or
�._............._........,��.._..�_RT,...�ww.,,wwww ' specify other costs);,,
SOU,RCE_dF_.CASN CdNTR.I.BUT,ION_
Please pravide dacumentation of available funds.(E.g.Bank or other Financial institutian Statements,Bank�etter,etc.)
.. . ......... ................................... .. ....... ............... .... .. ....._ .. ............. ..,. . .... ,,,,.. .__....... ............ ... ._...... ............ .......... ........
Name of Cantributor Amount of Contrihution
Eagle Bank $625,000
.... ,.....__........__-___ ..........__........... .. ...... ...... ..w....,, ..............__...___________.._......__...................�w,w__,. ._...,.............................._____ ..................... ........, ....... ..... ..... ........ ........_
*Plus Cast af Inventary
...____.__._... ........ ......... ............ ...... . ,,......... ...... .........., � ...... ............. ............. ............w,,,,,,. ..... .....__..
..... _................
��....M.....................--------__... ,........ ........ .... ,.,.w.w __ __._.._.
Totap .. . ... ......._.. . . ... $625,p
.
00
SOU_RCE QF„FINAN_C..wl_.N....G..
Please provide signed financinc�dacumentatian.
Name of Lender Amaur7t Type of Financing Is the(ender a licensee pursuant
to M.G.L.Ch.138.
Eagle Bank $685,�00 Business�oan ("�y�� (; (��
........ .._......... _._...._. „ ......wm_... ....._ ..... .. ...........��................................. ........ .........._..
('"Yes C` No
("'Yes C' No
w�........ ..... ..... ...... . ..� _............ ..._ . ......... ......... .... ...._ ...... ....___.......
("`Yes (`' Na
F,..IN,A,NCIA.L.,_,IwNFORMAT,fON
Provide a detailed�x��i�n«�tian of the form(s)and source(s)af funding for the cost identified above.
�«�r�l�Bank will provide loan for purchase price and inventory. �������"�wMM���������m�m,�.�����������W�WWµ���.��n��n�n�n���µ����tl��n������Wn��wwn���
11. PLEDGE I„NFORM,ATION
Please pravide signed pledge documentatian.
Are you seeking appraval for a pledge?�;Yes C` No
Please indicate what you are seeking to pledge(check ail tnac apPly) 0 License 0 Stock ❑X Inventory
�_.���_._._._._........... _....� .. ..__.__.....� . ,,,,,�,,,,w... w.w
To whom is the pledge being made? �agle Bank
5
12. MANAGER APPLICATION
A.MANAGER INFORMATION
The individual that has been appointed to manage and control the licensed business and premises.
Proposed Manager Name Nikul Dilip Patel � Date of Birth � SSN II I�`I�
Residential Address 30 Winter Street,Lexingtan,MA 02420
Emai) Nikul@jamsan.us Phone 617-633-1463 �
Please indicate haw many hours per week you intend to be on the licensed premises �
6.CITIZENSHIP/BACKGROUND INFORMATION
Are you a U.S.Citizen?*' (:Yes ("' No �Manager must be a U.S.Citizen
If yes,attach one of the follawing as proof of citizenship US Passport,Voter's Certificate,Birth Certificate or Naturalization Papers.
Have you ever been convicted of a state,federal,or military crime? (�Yes C: No
If yes,fill out the table below and attach an affidavit providing the details of any and all canvictions.Attach additional pages,if necessary,
utilizing the format below.
Date Municipality Charge Disposition
N/A
C.EMPL4YMENT INFORMATION
Please provide your employment history.Attach additional pages,if necessary,utilizing the format below.
Start Date End Date Position Employer Supervisor Name
9/2011 Present Manager Jamsam Hotel Management Inc. Kamlesh Patel
5/2011 9/2011 Front Office Manager Amisha LLC Dilip Patel
D.PRIOR DISCIPLINARY ACTION
Have you held a beneficial or financial interest in,or been the manager of,a license to sell alcoholic beverages that was subject to
disciplinary action? �^Yes G No �f yes,please fill out the table.Attach additional pages,if necessary,utilizing the forrnat below.
Date of Action Name of�icense State City Reason for suspension,revocation or cancellation
N/A
I hereby swear unde�the pains and penalties of perjury that the information I have provided in this application is true and accurate:
Manager's Signature ����,,,�� Date /28/21 � �
6
13. MANAGEMENT AGREEMENT
Are you requesting approval to utilize a management company through a managernent agreement? (^ Yes C"' No
If yes,please fill out section 13.
Please provide a narrative overview of the Management Agreement.Attach additional pages,if necessary.
IMPt�►RTANT NCiTE:A management agreement is where a licensee authorizes a third party ta control the daily operations of
the license premises,while retaining ultimate control over the license,through a written contract. This daes not pertain ta a
liquo�license manager that is empioyed directiy by the encity.
13A. MANAGEMENT ENTITY
List all proposed individuals or entities that will have a direct or indirect,beneficial or financial interest in the management Entity(E.g.
Stockholders,Officers,Directors,LLC Managers,LLP Partners,Trustees etc.).
Entity Name Address Phone
� „,,,,.,.,,_.--------�
Name of Principal Residential Address SSN DOB
C'___� �=�
Title and or Position Percenta e of Ownership Director US Citizen MA Resident
(' Yes C' No C Yes C"No ("Yes (` No
Name of Principal Residential Address 55N DOB
� �
Title and or Position Percenta e of Ownership Director US Citizen MA Resident
� C Yes (' No ('Yes (`No ('Yes (' No
Name of Princ�al Residential Address SSN DOB
� � �-
Title and or Position ____ Percentage of Ownership Director US Citizen MA Resident
� C'Yes (' N� ('Yes ..(' No (' Yes (' No
Name of Principal Residential Address SSN DOB
� L��
Title and or Positian Percenta e of Ownership Director US Citizen MA Resident
-� (' Yes C' No (`Yes C` No (""Yes C No
CRIMINAL HISTORY �=�
Has any individual identified above ever been convicted of a State,Federal or Military Crime? ('Yes C No
If yes,attach an affidavit providing the details of any and all convictions.
13B. EXISTING MANAGEMENT AGREEMENTS AND INTEREST IN AN ALCOHO�IC BEVERAGES
LICENSE
Does any individual or entity identified in question 13A,and applicable attachments, have any direct or indirect,beneficial or financial
interest in any other license to sell alcoholic beverages;and ar have an active management agreement with any other licensees?
Yes ❑ No � If yes,list in table below.Attach additional pages,if necessary,utilizing the table format belaw.
Name �icenseType �icense Name Municipality
7
13C. PREVIOUSLY HELD INTEREST IN AN ALCOHOLIC BEVERAGES LICENSE
Has any individual or entity identified in question 13A,and applicable attachments,ever held a direct or indirect, beneficial or
financial interest in a license to sell alcoholic beverages,which is not presently held?
Yes ❑ No ❑ If yes,list in table below.Attach additional pages,if necessary,utilizing the table format below.
Name License Type License Name Municipality
13D. PREVIOU5l.Y HEID MANAGEMENT AGREEMENT
Has any individual or entity identified in question 13A,and applicable attachments,ever held a management agreement with any
other Massachusetts licensee?
Yes ❑ Na ❑ If yes,list in table below.Attach additional pages,if necessary,utilizing the table format below.
Licensee Name �icense Type Municipality Date(s)af Agreement
13E. DISCLOSURE OF LICENSE DISCIPLINARY ACTION
Have any of the disclosed licenses listed in question sectian 13B,13C,13D ever been suspended,revoked or cancelled?
Yes ❑ No � If yes,list in table below.Attach additional pages,if necessary,utilizing the table format below.
Date of Action Name of License �ity Reason for suspension,revocation or cancellation
13F. TERMS OF AGREEMENT
a.Does the agreement provide for termination by the licensee? Yes [] No �
b.Will the licensee retain control of the business finances? Yes � No []
c.Does the management entity handle the payroll far the business? Yes � No �
d.Managernent Term Begin Date �— e.Management Term End Date �� �—�
f.How will the management company be compensated by the licensee?(check all that apply)
❑ $per month/year(indicate amount) �— �
❑ %of alcohol sales(indicate percentage) �--�
❑ %of overall sales(indicate percentage) �—�I
I
❑ other(piease explain)
ABCC Licensee Officer/LLC Manager Management Agreement Entity OfficerlLl.0 Manager
Signature: Signature:
Title: Title:
Date: � � Date: � �
8
APPLICANT'S STATEMENT
��Hiteshbhai Rasikbhai Patel�� the: �sole proprietor; � partner; �carporate principal; � LLC/LlP manager
Authorized Signatory
Of 55 Pearl Investment LLC
Name of the Entity/Corporation
hereby submit this application(hereinafter the"Application"),to the local licensing authority(the"LLA")and the Alcoholic
Beverages Control Commission(the"ABCC"and together with the LLA collectively the"Licensing Authorities")for approval.
I do hereby declare under the pains and penalties of perjury that I have personal knowledge of the information submitted in the
Application,and as such affirm that all statements and representations therein are true to the best of my knowledge and belief.
1 furthe�s�bmit the following to be true and accurate:
(1) I understand that each representation in this Application is material to the Licensing Authorities'decision on the
Application and that the�icensing Authorities will rely on each and every answer in the Application and accompanying
docurnents in reaching its decision;
(2) I state that the location and description of the proposed licensed premises are in compliance with state
and local laws and regulations;
(3) I understand that while the Application is pending, I must notify the Licensing Authorities of any change in the
information submitted therein. I understand that failure to give such notice to the Licensing Authorities may result in
disapproval of the Applicatian;
(4) I understand that upon approval af the Application, I must notify the Licensing Authorities of any change in the
ownership as approved by the Licensing Authorities. I understand that failure to give such notice to the
licensing Autharities may result in sanctions including revocation of any license for which this Application is submitted;
(S) I understand that the licensee will be bound by the statements and representations made in the Application, including,
but not limited to the identity of persons with an ownership or financial interest in the license;
(6) I understand that all statements and representations made became conditi�ns of the license;
(7) I understand that any physical alteratians to or changes to the size of the area used for the sale,delivery,storage,or
consumption of alcoholic beverages, must be reported to the Licensing Authorities and may require the prior approval
of the Licensing Authorities;
(8) I understand that the licensee's failure ta operate the licensed premises in accordance with the statements and
representations made in the Application may result in sanctions, including the revocation of any license for which the
Application was submitted;and
(9) I understand that any false statement or misrepresentation will constitute cause for disapproval of the Application or
sanctions including revocation of any license for which this Application is submitted.
(10) 1 confirm that the applicant corporation and each individual listed in the ownership section of the application is in
good standing with the Massachusetts Department of Revenue and has camplied with all laws of the Commonwealth
relating to taxes, reporting of employees and contractors,and withholding and remitting of child support.
Signature: Date: /28/21 �-�
Title: Member/Manager
CORPC3RATE VOTE
55 Pearl Investment I.IC
The Board of Directors or I.LC Managers of
Entity Name
duly voted to apply to the Licensing Authority of Lexington,MA � �and the
city/Town
Commonwealth of Massachusetts Alcoholic Beverages Control Commission on March 22,zozi � —�
Date of Meeting
For the following transactions (Check all that apply):
� New License � Chan9e of Location � thange of Class p.e.nnnual/seasonap ❑ �hange Corporate 5trudure o.e.corP i uq
Q Transfer of License � Alteretion of Licensed Premises � Change of License Type o.e.ciub i�escauranc> ❑ p�edge of Collateral c�.e.u�emeistocW
� Change of Manager � Change Corporate Name � �hange of Category li.e.nnniconouw�ne,Malt) ❑ Management/Operating Agreement
� Change of tNficers/ Change of Ownership Interest � Issuancelfransfer of StocWNew Stockholder � �hange of Hours
pirectors/LLC Managers � (LLC Members/LLP Partners,
Trustees) �Other � Change of DBA
"VOTED:To authorize Hiteshbhai Rasikbhai Patel
Name of Person
ta sign the application submitted and to execute on the Entity's behalf, any necessary papers and
do all things required to have the application granted."
"VOTED:To appoint Nikul Dilip Patel
Name of Liquor License Manager
as its rnanager of record, and hereby grant him or her with full autharity and control of the
prernises described in the license and authority and control of the conduct of all business
therein as the licensee itself could in any way have and exercise if it were a natural person
residing in the Commonwealth of Massachusetts."
For Corparations ONLY
A true copy attest, A true copy attest,
�
—�� ' %�"
Corpor e Officer/LLC Manager Signature Corporatian Clerk's Signature
.....�:�..�..�.��� €�a�{'� � :")�.��,'�-
(Print Name) (Print Name)
MA SOC Filing Number; 202132681890 Date: 2/19/2021 2:58:00 PM
;�„�,�,,.�.,
, � � ���e�� ,��.��,
m���.. � ��� The Commonwe�lth of Massach�setts mu���►�,� ��:�sa�o aa z;
„��` ;��� �,� William Francis Galvin
� �
�" " � Secretary af t�e CommonvvealCh,Carparatians Divisi�ar►
�� �����
� � � 4ne Ashburton Place, 17th floar '�
���� �,��,"��' F�oston,M�A 02108-1512
��� ,� �`�� 'Telephane:(617)"727-9640
. • . , .
..
>;;
' Identificatian Number: 001489157
1.The exact name af the limited liability company is: 55 PEARL INVESTMENT LLC
2a.Location of its principal office:
No.and Street: 55 BEDFORD STREET
City or Town: LEXINGTON State:MA Zip: 02420 Country:USA
' 2b.Street address of the affice in th�Cammanwealth at which th� recards witl be maintained;
' No.and Street: 55 BEDFORD STREET
City or Town: LEXINGTON State: MA Zip: 02420 Cauntryr USA
3.The general character of business,and if the limited liability company is organized to render professional
service,the service to be rendered:
TO OWN AND OPERATE A RETAIL LIQUOR STORE AND SHALL BE PERMITTED TO PEFORM A
NY ACT PERMITTED UNDER THE LAWS OF THE COMMONWEALTH OF MASSACHUSETTS
�,
4.The latest date of dissolution, if specified: ��;
5. Narne and address of the Resident Agent:
Name: RAVI PATEL
No.and Street: 55 BEDFORD STREBT
; Ciry or Town: LEXINGTON State: MA Zip: 02420 Country: USA ��
,
;;
' I, RAVI PATE�resident agent of the above limited liability company, consent to my appointment as the �n
��� resident agent of the above limited liability company pursuant to G.1..Chapter 156G Section 12. �
�C
� 6.The name and business address of each manager, if any: `'
��
Title Individual Name Address�no Po goX�
�
First,Middle,Last,Suffix Address,GYy or Town,5tate,Zip Code ;`i
MANAGER RAVI PATEI 55 BEDFORD STREET �
{;
�EXINGTON,MA 02420 USA
` 7.The name and business address of the person(s)in addition to the manager(s), authorized to execute
' documents to be filed with the Garparations Division,and at least one person shall be named if there are no ;
managers.
Title Individual Name Address(r,o Po sox�
First,Middle,Last,Suffix Address,City or Town,State,Zip Code
SOC SIGNATORY RAVI PATEL '
55 BEDFORD STREET
, �.�..�.��� � �EwNcrow,nna azazo usa
8.The name and business address of the person(s)autharized to execute,acknowledge,deliver and record
? any recordable instrument purparting to affect an interest in real property:
Title Individual Name Address(r,o Po Box�
First,Middle,Last,Suffix Address,City or Town,State,Zip Code
REAL PROPERTY RAVI PATEL 55 BEDFORD STREET
LEXINGTON,MA 02420 USA
9.Additional matters:
SIGNED UNDER THE PENALTIES OF PE12.TURY,this 19 Day of February,2021,
��� NIKUL PATEL
(The certificate must be signed by the person farming the LLC.)
O 2001-2021 Commonwealth of Massachusetts
� AII Rights Reserved
MA SOC Filing Number: 202132681890 Date: 2/19/2p21 2:58:00 PM
THE COMMOrfWEALTH OF MASSACHUSETTS
I hereby certify that,upon examinatian of this document, duly submitted to me, it appears
that the provisions of the General Laws relative to corporations have been complied with,
and I hereby approve said articles; and the filing fee having been paid, said articles are
deerned ta have been filed with me on:
February 19, 2021 02:5$ PM
� - /
.c:-�-G.�-c
WILLIAM FRANCIS GALVIN
Secretary of the Commonwealth
MA SOC Filing Number: 202133925560 Date: 2/24/2021 3:08:00 PM
�,,�� �;,� TIl@ C0171�10t1WE.'1I��1 O� M�SS8CFIUS@t'�S M�nim�m Fee:�1OO.Op '�
���"`, � """�,� Willia�m Francis Galvin
� ���
� � Secretary of the Commanwealtla,Carparatians Divisian
�. � Une Ashburton Place„ 17th floor
��'� �,� Baston,MA 02108-l S 12
�`�'�� ,��'����` T�lephone. (617)727-964b
. � .
,
Identl�cation Number: Ob14$9157
;��� Th�date af t'ilir►g of the ariginai certificate of c�rgarrizatian: 2119/2q21
1.a. Exact name af the limited liability campany: SS PEARL INVESTN�EI'�IT LLC
1.b.The exact name af th� timited liability campany as amended, is: S5 PEARL INVES"I'M�1VT I.I.0
2a. Lacation af its princlpal office;
Na.and Street: 55 $EI7FOf�D STFiEET
;-:� City ar T'own: �LEXIT3�TCI�I S�te: MA Zip: q2420 Gountty: US�S
� 3.A.�am�nded,tM�general character of business,and if#he limited liability company is orgar�ized to rend�r �.
prafessionat service,the servrae to be rendered;
:' 4.The latest date of dissolution, if specified:
i 5. Name and address of the Resident Agent:
;; Name: RAVI PATEL ,:;;
;'' No. and Street: 55 BEDFORD STREET
City or Town: LEXINGTON State: MA Zip: 02420 Country: USA
� 6.The name and business address of each manager, if any:
;:
Title Individual Name Address(r,o Po eox)
t;
First,Middle,Last,Suffix Address,City or Town,State,Zip Code
�- MANAGER HITESH PATEL 55 BEDFORD STREET �
;�% LEXINGTON,MA 02420 USA
�' 3
�
> Z The name and business address of the person(s) in addition to the manager(s),authorized to execute �
documents to be filed with the Corporations Division,and at least one person shall be named if there are no �
managers. "�'
�;
Title Individual Name Address(no Po aoX� ��:
First,Middle,Last,Suffix Address,City or Town,State,Zip Code �
SOC SIGNATORY HITESH PATE� �'
55 BEDFORb STREET
LEXINGTON,MA 0242p USA ' '
, �`
;
,�,,
_;;
�;
8.The name and business address of the persan(s)autharized to execute, acknowledge, deliver and record ��
any recordable instrument purporting to affect an interest in real property: ��:
�<
�'v
Title Individual Name Address�no Po Box�
First,Middle,Last,Suffix Address,City or Town,State,Zip Code
REALPROPERTY HITESH PATEL `
55 BEDFORD STREET
LEXINGTON,MA 02420 USA
9.Additional matters:
' 10. State the amendments to the certificate:
REMOVED RAVI PATEL FROM SBCTIONS 6 7 $ AND REPLACED WITH HITESH PATEL
11. The amendment certificate shall be effective when filed unless a later effective date is specified:
' SIGNED UNDER THE PENALTIES OF PERJURY,this 24 Day of Febraary,2021,
HITESH PATEL,Signature of Authorized Signatory.
O 2001 -2021 Commonwealth of Massachusetts
All Rights Reserved
�.,,.���.�'�� �w,,.�. ,", ., ,.w,. .��- a.��.w.,�,i r ,w,.,�.,.' .. ..,,;,,. , �a. :�� � �� �� �� .o �a . ,
..�a . . ,....._,.. ,.,....ri��. .ea.,.N .._.�.� �,�;: �W.�...r-�, .�. ,u a,.� ..,e. . ...,..
MA SOC Filing Number: 202133925560 Date: 2/24/2021 3:0$:00 PM
THE COMMONWEALTH OF MASSACHUSETTS
I hereby certify that, upon examination of this document, duly submitted to rne, it appears
that the provisions of the General Laws relative to corporations have been complied with,
and I hereby approve said articles; and the filing fee having been paid, said articles are
deemed to have been filed with me on:
February 24, 2021 03:08 PM
�1���-'�-*'.� • /
WILLIAM FRANCIS GALVIN
Secretary of the Commonwealth
AGENDA ITEM SUMMARY
LEXINGTON SELECT BOARD MEETING
AGENDA ITEM TITLE:
Select Board Work Session
PRESENTER: ITEM
Facilities: Mike Cronin, Director; NUMBER:
Shawn Newell,Asst. Director; Chris
Bouchard, Supt., Ray Dufresne L3
SUMMARY:
Mike Cronin, Shawn Newell, and Chris Bouchard from Public Facilities, as well as Ray Dufresne from
Gordian, will present the Long-Range(20-Year) Municipal and School Capital Plan to the Select Board.
The Select Board to discuss the need for a training process for Town of Lexington Boards and Committees as
new member appointments and resignations occur throughout the year.
The Select Board will also discuss a process for Select Board Committee appointments, including, but not
limited to:reappointments, the State Conflict of Interest Law Online Training Program completion requirement
every two years, filling vacancies, recruitment process, etc.
SUGGESTED MOTION:
FOLLOW UP:
DATE AND APPROXIMATE TIME ON AGENDA:
6/7/2021 7:lOpm
ATTACHMENTS:
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Stacey Prizio
Subject: RE:This Month in the Division of Open Government: Open Meeting Law Certification
Requirements
From:Attorney General's Division of Open Government
Sent: Friday, May 28, 2021 2:16:52 PM
To: Kim Katzenback
Subject:This Month in the Division of Open Government: Open Meeting Law Certification Requirements
�li�:v�,,,:�Ir�ji.�,,.�pm;n�'ii,Il,,,.II,i!�,,,,Y��u,ir,,.11a ir;�a�r�,�;ir
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This Month in the
Division of Open
Government
May 2021
Good afternoon,
We are writing to share updates from the Attorney General's Division of Open
Government.
Included in this month's edition:
• (�p�n C�I��aio�g ��w L�gi���tiv� �Jpd���
• C�taid�r��� �p�atViglht: C)p�r� CV����ir�g L�vv ��rtifi��tic�r� F���u�ur�u�n�;rr�
i
• Tr�ini�g �ppc�u���routi��
• R���r�� �p�r� Il����ing L�vv [��t�rmir��tir��n P...�ig�rVig�r��
Please pass along the information below to your constituencies and to anyone
else who might be interested.
As always, you are welcome to contact us at (�17� 9�3-2�4f� or
C�p��oCV���tu�g(r�ua�o���.gc��r with any Open Meeting Law questions.
T � i�i�i�r� ��f � �ov�rr� � �� i� ��arr�ntly �r ir�� r� o�t�ly� �
r���u���� t �t �II ��rr�� � � ��, ir��lu ir� � ���kir� L�� �� I�ir��t�,
�u�li� ba�� r�� �n���a �n r�q�a���k� �f�r r��i�w, � �� �k b� � �il
� �v�r ����i I��
In partnership,
The Attorney General's Division of Open Government
� � � � � • � �
,�
On May 17, 2021, Governor Baker announced that he will end the State of Emergency on June 15,which
will terminate most of the pandemic-related executive orders. However,the Legislature is considering
legislation that would extend until September 1st the provisions of the March 12,2020, Executive Order
Suspending Certain Provisions of the Open Meeting Law,which has allowed public bodies to meet
remotely and to provide the public with"adequate alternative access"to meetings. In addition,the
Legislature is considering several other bills that would make permanent changes to the Open Meeting
Law related to remote participation and remote public access. More information on pending legislation is
available through the Legislature's website. We will post updated guidance as soon as there are any
updates that affect the Open Meeting Law.
• � w � � • ' � m
� � �
2
This month, we provide guidance on the Open Meeting Law's"certification"requirement. Unlike other
laws,such as the Conflict of Interest Law,the Open Meeting Law does not impose a mandatory formal
training requirement(we note that some municipalities may require Open Meeting Law training for their
own public body members). Instead,the Open Meeting Law requires all public body members to certify,
�in,,,,,�lrn��,_��,��irim,�a„y„_G��;,irn,�;,ir��ll,°w,p,,,,���ir,irm�.,that they have received and reviewed certain Open Meeting Law
informational materials, and that they understand the requirements of the Law and the consequences for
violating it. Specifically, public body members must certify that they have received and reviewed the
Attorne General's �:D a�ir� Il�fl��dliirn Il....���r C��uli��;, �Irr�;�:���in Il����liir� II....[�re�a li���ll�,�Irr����c�iriru� ��ir��ir��ll°��� �ir�
Y ..........�.........................................................�............................................................. .............................�........................................................�....................................................... ...........................................................Y......................................................................Y,�.............
Il�,��;,�iiim„�„_Il,,,,�uwe,,,ll;��,,�y,u,u,ll,�,�iia�in�,.>, and all��,��;irir,�ii,ir�,��,�iicbir�,<�issued to that particular public body within the last five
years in which the Attorney General found a violation of the Open Meeting Law.
The Open Meeting Law materials and certification form should be provided to public body members upon
qualifying for office or taking an oath of office, and the certification form must be signed within two
weeks. For local public bodies,the municipal clerk is responsible for providing the materials and then
retaining the signed certification forms. For regional, district,county, or state public bodies,the appointing
authority, executive director,or other administrator is responsible for providing the materials and retaining
the certification forms.
Any current public body member who has not yet completed a Certification should do so as soon as
possible. A public body member must sign a new Certification upon reelection or reappointment to the
public body, and must sign a separate Certification for each public body on which she serves(for
example,a Planning Board and a Council on Aging), but does not need to sign a new Certification when
joining a subcommittee of a public body for which she has already signed a Certification.
Although not mandatory,the Attorney General regularly offers comprehensive Open Meeting Law training
webinars,and strongly encourages public body members, staff who work with public bodies, and other
interested members of the public to participate. Information on upcoming trainings is always included in
these monthly newsletters, as well as on our uw��ll:?,;�,li;��,.
� � � � � � `
Wednesday, June 9, 2021 9:30am EST
Click here to register.
II�I�Ik��,,//�����irn�'�:�o,������Il:aliir��ir,��ir���ir�� li���Pi��/����5�������G��.�:r�����I
................�...............................................................................�......................................................................................................................�,�......................................................................................................................................................................................
Monday, June 21, 2021 6:OOpm EST
Click here to register.
Il�a���,/�����ir��'��:�, �a��vw��wlG�liir���ir,�;�irm�/ir�: li�lt�:�ii�/����� ��������a���.T.�����5.�
................�...................................................................................�......................................................................................................................�......................................................................................................................................................................................
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OML 2021-73: A public body's scheduling challenges do not constitute an"emergency"under the Open
Meeting Law to justify holding a meeting without posting notice at least 48 hours in advance. The Open
Meeting Law defines"emergency"as"a sudden, generally unexpected occurrence or set of circumstances
demanding immediate action." When a public body had advance notice of a matter requiring action,and
the matter could have waited a few additional days, scheduling conveniences did not constitute an
"emergency"under the Law.
OML 2021-63:A public body violated the Open Meeting Law when it was made aware during a meeting of
technical interruptions with the YouTube live steam of the meeting—which was the sole method of public
access advertised on the meeting notice—but continued with the meeting anyway, effectively depriving
the public of the right to access the deliberations of the public body in real time.
Open Meeting Law determinations may be found at the Attorney General's website,
https://www.mass.qov/the-open-meetinq-law
Unable to particiaate in a live traininq?
Training videos,which feature similar content as live trainings, are available on our website.
Visit: https://ww�v.m�ss.c�ov(s�rvice-d�tails/eap�n-m�etina�-6�w-tr�ininc�-vid�:os.
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�ro�ff�I�a�,ir� �����irir�irrr�airn���irn���"e�ir ya��uir���:�ir����li���u�;ir��li�����air�lk v�ii��lh��Irri��:�I��air� Il��:�c���liir�a� II...��!�.
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5
V. ADVISORY COMMITTEES OF THE SOARD OFSELECTMEN
The Board may appoint advisory committees to aid on matters under the Board's juiisdiction,
particulai-ly in technical areas. The use of such advisory committees provides greater expertise
and more widespread citizen participation in the operation of government.
Charges to advisory committees shall be in writing and shall include the work to be undertaken,
the time in which it is to be accomplished and the procedures for reporting to the Selectmen.
Each committee must report in writing at least annually to the Selectmen. The Selectmen and
the Town Manager shall be sent copies of all committee agendas. The Town Clerk must receive
copies of all Committee charges, appointments and minutes. The Board will discharge
committees upon the completion of their work.
The charges and membership of standing advisory committees shall be reviewed periodically--
at least annually--to assess the necessity and desuability of continuing the committee.
Reappointments will be based on an evaluation of the member's contribution, the desirability of
widespread citizen involvement and the changing needs of the committee and the Town.
In order to attract qualified and interested persons, vacancies will be made public as far in
advance of an appointment as practicable. An application form will be available in the
Selectmen's Office, the Town Manager's office, and on the Town Web site so that any citizen
interested in participating in activities of this nature or in otherwise malcing a contribution to the
town government may record their background, areas of interest and availability.
It is the policy of the Board of Selectmen to appoint qualified citizens to the advisory
committees.
23
VI. APPOINTIVIENTS AND APPROVAL OF MANAGER'S APPOINTMENTS
A. Selectmen's A�ointments
1. Ex�iration Dates
For appointments to standing committees is September 30, or until a successor is appointed and
qualified, with the exception of the following:
• Historic Districts Commission, expiration date December 31, in accordance with Ch.
447, Acts of 1956.
• Lexington Housing Assistance Board(LexHAB), expiration date May 31, in
accordance with Chapter 521 of Acts of 1983.
• Registrars of Voters, expiration date March 31, in accordance with G.L. Ch. 51, s. 15.
• Town Celebrations Committee, expiration date June 30 (Town By-Law, Article XV)
• Election Officers between July 15 and August 15, in accordance with G.L. Ch. 54, s.
12.
2. Criteria
The Board of Selectmen will be generally guided in its appointments by the criteria developed
by the Appointment Criteria Committee as amended(see Policy). Whenever possible, the Board
will seek variety in backgrounds, interests, ages, sex, length of residence and geographic areas of
resideiits, so that a true cross section of the community will be reflected. In order to attract
qualified and interested persons, vacancies will be made public as far in advance of appointment
as practicable.
3. Process
The Selectmen will publish in the local newspaper a list of the projected committee and board
openings for the coming year, and a copy of the Committee Application form which can be filled
out and returned to the Select�nen's office. The Committee Application form will also be made
available at the Selectmen's Office, Town Manager's Office and on the Town web site. A file of
applications will be maintained throughout the year by the Selectmen's Of�ice and Town
Manager's Of�'ice, and made available to all town officials and employees who need to appoint
citizen committees or make use of citizen talents and expertise.
24
• The Selectmen's Executive Clerk will:
■ Present a list of the appointment vacancies to be filled by the Board annually.
■ Notify the Chairman of the appropriate board or committee requesting
recommendations regarding reappointment or the filling of vacancies.
• The Selectmen may meet with potential new appointees before making a final
decision on the appointment. Appointments will normally be made only when all
members of the Board are present. Nominees do not require a second. Appointments
will be made by a majority vote of the Selectmen.
• Annual appointments should be completed by September 30 or the statutory
expiration date.
• Appointments to fill an unexpired term shall promptly take place after the Board has
been formally notified by the Town Clerk that a vacancy exists.
B. Town Mana_er��ointments with Board of Selectmen A�roval
Under the -Selectmen/Town Manager Act and other applicable laws, the Board must
approve the Town Manager's appointments to: Board of Health, Commission on Disability,
Conservation Commission, Council on Aging, Historical Commission, Recreation Committee,
and Youth Commission.
1. Qualifications
• Applications for Town Manager appointments shall be submitted to the Town
Manager's Office.
2. Process
• Individual Selectmen should feel free to suggest names of qualified residents to the
Town Manager for the Boards and Committees appointed by him.
• As a matter of procedure, appointments by the Town Manager shall be made in the
following manner:
■ The Town Manager shall notify members of the Board well in advance of the
vacancy becoming effective, or term of appointment expiration.
■ The Town Manager will publicize annual appointments and the filling of
vacancies in the same manner to be followed by the Board in its appointment
procedures. (see 2 above)
■ The Town manager will submit nominees to the Board no later than one week
25
prior to the regular Board meeting at which the Manager will seek Board
approval.
■ Subsequent to step c, the Board wi11 have on the agenda at a following Board
�neeting the mattei of the appointment to be approved by the Board. In general,
appointments will be acted upon only when all members of the Board are present.
Approval will be by majority of the Selectmen.
■ Annual appointments shall take place no later than the expiration of a term.
■ Appointments to fill an unexpired term should take place no later than six weeks
after the Town Manager has been formally notified by the Town Clerk that a
vacancy exists.
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VIL RESIGNATIONS
Under statute, all resignations of Town Officers, Board and Committee members must be in
writing and filed in the Town Clerk's office. In addition, the written resignation shall also be
sent to the appointing authority.
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