Sotherly Hotels Inc. entered into an Amended and Restated Deed of Trust Note and other amended loan documents to secure additional proceeds on the existing $7.5 million mortgage on the DoubleTree by Hilton Laurel with the existing lender, Bank of Georgetown. Immediately prior to such amendments, the mortgage loan had an outstanding principal balance of approximately $6.8 million. Pursuant to the amended loan documents, the Mortgage Loan: has a new principal amount of $9.5 million; carries a fixed interest rate of 5.25% through December 31, 2017, at which time the rate will convert to the greater of 5.25% or 3.00% over the 5-year Treasury Index for the remaining term; amortizes on a 25-year schedule; with certain exceptions, is subject to prepayment premiums of during the first, second, fifth and sixth loan years, 0.50%, during the third loan year, 3.00%, and during the fourth loan year, 2.00%; continues to have a maturity date of August 5, 2021; and continues to be guaranteed by Sotherly Hotels LP.