Material Agreement Form 8 K

Item 1.01. Entry into a Material Definitive Agreement.

On September 30, 2024, Aggieland-Parks, Inc. ("Aggieland Wild Animal Safari" or "AWAS"), a wholly owned subsidiary of Parks! America, Inc. (the "Company") completed a refinancing transaction (the "2024 Refinancing") with Cendera Bank, N.A. ("Cendera"). The 2024 Refinancing included a term loan in the original principal amount of $2.5 million (the "2024 Term Loan"). The 2024 Term Loan bears interest at a daily adjusted rate equal to the Prime Rate minus 0.50%. The Prime Rate was 8.0% as of September 30, 2024; as such the 2024 Term Loan bears an initial interest rate of 7.5%. The 2024 Term Loan has a term of 10 years, with a 15-year amortization, and a ballon payment of the outstanding principal balance due on the September 30, 2034. The initial monthly loan payment is estimated to be $23,200. AWAS paid approximately $56,500 in fees and expenses in connection with the 2024 Term Loan.

The 2024 Term Loan is secured by substantially all the Aggieland Wild Animal Safari assets, as well as a cash collateral reserve of $2.5 million established by Focus Compounding Fund, LP.