|
�01208290
<br />12. Lender, Borrower and Pedcor Acquisition hereby agree that the Loan Documents,
<br />to the e�ent necessary, are hereby amended and modified to reflect the amendments and
<br />modifications, and if provided at Borrower's option, the 2012 Letter of Credit.
<br />13. Borrower agrees to pay to Lender on the date hereof an extension/modification
<br />fee of One Thousand Nine Hundred Eighty and 00/100 Dollars ($1,980.00).
<br />14. This Agreement is a modification only and not a novation or accord and
<br />satisfaction. Except for the above-referenced amendments and modifications, the Loan
<br />Agreement, the Note, the Deed of Trust, the Loan Documents and any other agreement or
<br />security document, and all the terms and conditions thereof, sha11 be and remain in full force and
<br />efFect with the amendments and modifications herein deemed to be incorporated therein.
<br />15. Pedcor and Pedcor Acquisition for themselves and their respective successors and
<br />assigns, and Cordingley and Stoffregen for themselves and their respective heirs, executors and
<br />personal representatives (collectively, the "Releasing Parties"), hereby release and dischazge
<br />Lender, its officers, directors, agents, employees, attorneys, participants, legal representatives,
<br />successors and assigns (collectively, the "Released Parties") from any and all claims, demands,
<br />actions, damages and causes of action which any of the Releasing Parties have asserted or
<br />claimed or might now or hereafter assert or claim against all or any of the Released Parties,
<br />whether known or unknown, arising out of, related to or in any way connected with or based
<br />upon any Prior Related Event (as defined hereafter). As used herein, the term "Prior Related
<br />Event" shall mean any act, omission, circumstance, agreement, loan, extension of credit,
<br />transaction, transfer, payment, event, action or occurrence between, among or involving
<br />Borrower or Pedcor Acquisition, or any of the property of Bonower or Pedcor Acquisition and
<br />all or any of the Released Parties and which was made or extended or which occurred at any time
<br />or times prior to the execution of this Agreement. Borrower and Pedcor Acquisition agree and
<br />acknowledge that this release is not to be construed as or deemed an acknowledgement or
<br />admission on the part of any of the Released Parties of liability for any matter or as precedent
<br />upon which any liability may be asserted.
<br />Notwithstanding the amendments and modifications set forth in this Agreement,
<br />Borrower and Pedcor Acquisition hereby reaffirm and ratify to Lender their continuing
<br />respective liability and responsibility, and agree to pay, perform, observe and be bound by all of
<br />the terms, conditions, covenants, agreements, stipulations, representa.tions, warranties,
<br />obligations and liabilities under the Loan Agreement, the Note, the Deed of Trust and the
<br />Loan Documents, as and to the e�rtent amended and modified hereby, and this Agreement, and
<br />further, the Loan Agreement, the Note, the Deed of Trust and the Loan Documents, as and to the
<br />extent amended and modified hereby, and this Agreement, are the legal, valid and binding
<br />obligations of Borrower and Pedcor Acquisition, enforceable against Borrower and Pedcor
<br />Acquisition in accordance with their respective terms, without the right of offset, defense or
<br />counterclaim thereto, and further, nothing herein conta.ined, and nothing done pursuant to this
<br />Agreement shall affect or shall be construed as affecting or is intended to release or affect the
<br />liability of Borrower and Pedcor Acquisition under the Loan Agreement, the Note, the Deed of
<br />Trust and the Loan Documents, respectively, as may be applicable, and except for the specific
<br />amendments and modifications set forth herein, sha11 not alter, waive, amend, vary or affect any
<br />provision, condition or covenant contained in the Loan Agreement, the Note, the Deed of Trust
<br />and the Loan Documents, and except for the specific amendments and modifications set forth
<br />7 MORIMD:1080698
<br />Grand Island:August 20, 2012
<br />
|