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iv. Notice of Commencement from Borrower to Lender recorded with the Hall County, Nebraska Register of Deeds, Miscellaneous Records on April 3, 2015, as Instrument No. 201502077; v. an Assignment of Plans, Specifications and Construction Contracts and Agreements from Borrower to Lender; v. Environmental Indemnity Agreement from Borrower to Lender; and vi. UCC -1 Financing Statement, and include the Guarantys of Payment executed jointly and individually by Michael H. Staenberg, individually and as Trustee of the MHS Trust dated January 13, 1986, as amended, and Raymond J. O'Connor, each of which are dated March 31, 2015 (the "Guarantys "). 1. Present Ownership. Borrower represents, covenants and warrants to Lender that it remains the owner of the fee title to the Mortgaged Property, subject only to the liens and security interests arising out of the Loan Documents and the exceptions to title set forth in Old Republic National Title Insurance Company ALTA Loan Policy of Title Insurance (Policy Number LX965149) issued at the Loan closing and any subsequent endorsements thereto. follows: 2. Modification of Loan. The parties hereto have agreed to modify the Loan terms as The interest only payment under the Loan and the "Conversion Date ", as defined in the Original Promissory Note, shall be extended and modified to March 31, 2018, subject to an earlier conversion thirty (30) days after written notice from Lender to Borrower based upon Borrower providing trailing three (3) month results for each quarter -end on June 30, 2017, September 30, 2017 and December 31, 2017. If the reported net cash flow covers amortizing debt service (based on the then current 1 year LIBOR + 260 bps / 25 year amortization) at a debt service coverage ratio equal or greater to 1.0:1.0 the Loan will convert to a mini -perm loan early. Principal and interest payments will commence on the lst day of the month occurring thirty (30) days after notice is provided by Lender to the Borrower. Notwithstanding the foregoing, assuming all other conditions are satisfied, the Conversion Date shall be no later than March 31, 2018. Now, therefore, it is hereby agreed by and among the parties as follows: 3. Incorporation of Preliminary Matters. All of the provisions and statements in the foregoing Preliminary Matters are affirmed by Lender and Borrower. 4. Modified Promissory Note. 2 201607860 Concurrently with the execution hereof, Borrower has executed and delivered to Lender a Modified Promissory Note in the amount of $12,093,893.10 (the "Modified Note "), which the parties agree shall be substituted for the Original Promissory Note, which shall be cancelled and returned to Borrower. Borrower hereby acknowledges and agrees that the Modified Note, and the repayment thereof, shall continue to be secured by the Loan Documents, as amended by this Agreement. 5. Loan Document Modifications. Borrower, Lender and Guarantors agree that effective upon the execution hereof: