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<br /> -��� �� L ., �.L 1 yy _ - . `_. .' `�, �_ ' ' . ' " ,. ' ' _ _i '"�"_`' , ' " �a ','t" • L "C```..` '�� ..� � `_� .. .. .t _,
<br /> ._- _— . �(` . ' . . . ( � , � ' , � • , ' � � ♦
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<br /> t• ��� <
<br /> . . _ . . . . ' . .. . . • . . . . . . .� _ � .a _ _ ._.r. _ . . .. . .
<br /> . � • . [ � , t G � . � ` .. i,< . .
<br /> .� - ° � . ._� ..`� � - � . �� �� ° � . � � �� . �gs���� � = ` .
<br /> � ' ' cptatitutes _�< r��ce to. ttte�Second lsmended •
<br /> . - `lYot�. •��he te�ns :,�und .cc�i-ti�ns c�f the. �econd �ed S�cos�l � ;� �.
<br /> . Ptcm3s$osy NqCe tvill 9c�veru anY, coafl,3et betNeet� the terms aad� , . ,
<br /> - conaitipns of th+a Secoad<Prc�issory` Notie and the �S�cond �im�nded �
<br /> . _ . . � . � , � . . .
<br /> 3e�cnd:Pzam�s��€ N� ' �
<br /> � �.-' _.. . .� _ � � - . . . . . . _ . c f . . —. _ ' —__ - _.
<br /> �- . - .. , ', 5. � Tbi�cd Pr�issor� �Not�. . TRie Thi�d P�missory Note . t
<br /> - = E#104�34? as a�euded and� restated by ttie Secolnd !►mended. Th�rd
<br /> -- . P�aaissory Na�e is a`�al.i.d se�ist�aag oblig�ticn of tbe Horsawes
<br /> :��eith an vapaid �riacipnl.,balamce�of.$�0'1.793.b8`as of this date aad .
<br /> aa this eve� .date_H�rro�er pa�id Lender the sus ot $651.25 r�hich .
<br /> � ` . , rep�esent� accrued 3.nteaeegt art.sai.d.ribte frapt�pxil 1. 19�3 ttt �y - .
<br /> - � l. I�93. � � � ' , � � .
<br /> -- — �. � . . . , . ,
<br /> � -• - 6. Sec�and•l�meinded Third Prcmissorv Note: Borrawer'� valid � .
<br /> subsisting obliqatiois re erred to ia Pbragraph�5 above is evidenced � ,
<br />�=r4 by and existst u�pon the tesms aad cq�nditions:set� �arth ia ehe Second _ . '
<br /> - �meaded�Tbird Praai.asoYy Note=executed aad dated�this everi date,
<br /> - - _a�d r�hich terms, .aud conditic�as are incorporatied hereia bx �bis � � -
<br />-- . �� refesence. !!ay r�ference hereiabefore ot l�e�ceinafter Yaade, whetheat
<br /> ia this document ar,aay ot,her Loan�Doc�aoent, to the Third Pracai.sso- . _
<br />- - , ry NQte, o� the Second Amended Third Prasaissq=y Note .const3tutes� , ; -_
<br /> _ reference to the Seconcl Amended Thixd Pres�tissosy Note. ��he'ter�s . --__-
<br /> - � ,.anc� conditicros af-the Secoad-Bmeaded-�iird Pt�i,sso�y Ncte will --. - �_--
<br /> � • � Qove�rn'�ny conflict between the tesms and conditions o� tbe �hird` ��__
<br /> r Prataissory Note and' the Second�Amended Tbird Praaissosy Note. , —�--
<br /> � . �--.
<br /> - ----
<br /> � � .
<br /> ` _-.Y "
<br />_ i=: _.-- 7. Coaditiens. Horic�er ackao�ledges and ulnderstaads that "�°"�;",`:
<br />_ . . �����
<br />--" the terms and conditions agreed to� bY �he Le�nder ia the Second �
<br /> . ,.�. Amended Secouc� Praa�3ssory Note_and_fiecond Amended 73�ird Pramaissosy ---
<br /> L�Iote are conditions upon and sub7ect to the Lender's prior revieyv �1=-��
<br /> _ , .- and approval of any. and aZi leases to be entered in�to by aad . . _- -- .
<br /> - :�=��' between Borro�rer and aay third pasty lessee. � . �.�==_
<br /> � . :'��F`.�r': ' . . ' � �' . =�._.
<br /> g pL,,nan.9nw�t rn the AriQina l �`'
<br /> . :-,.:,: . ,
<br /> - '._.��:�; • _ _.� ,, 1 Aareement. Borror�er and Lender _ ��;N.�<, _
<br /> .
<br /> � .�:-' T � - here�y agree the Original Aqreeatent as amended and/or restated by ' _
<br /> � :.x-:�- � -
<br /> ' -- -�:' •- �. �� '� the First Amendment to Cox�struction Loan Agre�ent, Second , �����,=
<br /> " '-�.��=�-.-�:;-�'-�; Amendment to Construction Loaa A9�z'eement,� Third Amenc�Cnent • to _
<br />=° .�r ^� �=� Canetruction Loan Agreement, Fourth Amendment to Construction Loaa _
<br />=� .. -t.�-;?r�- _ . =
<br />- � '��'=�*� - � . A9reement and Fifth Amencl�ent to Construction Loaua Agreement , :.
<br />`-�` ��"� ':•.�'� . (co�lectively �Conetruction Loaa Agreement•I, is amended as .. _
<br /> - .�.a�. . . . follcws: ,, ' - �
<br />--_ . ' .�'. . ,� � a. All provisions of the Constructioa Loan Agreement � � . .
<br /> �'''':�'�-• " � . . _
<br /> :- � ,��::`-"°�., � , provicliag for the advanceiaent andlor disbursement of funds, except � _
<br /> :�;;�.�: r �• ag provided in Paragraph 10, are hereby extinguished. From the � • .
<br /> � ��"� ��-�� �'. ' ' date hereof, this Constr�actioa Loan .Agreement constitutes a term �
<br /> - �`ti. � " loan for the amouats specified in the Seaond Amended Second � �,- . •: ��
<br /> ':, :,�, • � -promissory Note and the � Second A�aended Third Proa�issoxy _Note. f ,:� _
<br />- - Lender shall not disburse aay suia to Horrower or pravide. am ..-
<br /> �•= additional funds for the Progerty, the Project, the Improvementa ;;
<br /> ' _ . F_ . _ - ,
<br /> �� � � (as defined in the Construction Loan Agreement) or any portion ,
<br /> �'`�� �"� thereo£, except as provided in Paragraph 10 of the Construction - ��--� :
<br /> :,�;L:,-_ _ : � I,pan Agreement. � ; � ,
<br />-. ��-�.;s'-�• .: - .: � b. Paragraphs 2!f) I i) and 2 t f)t i3) are'hereby deleted ; . ': .
<br /> _ '� i�:':�=�J�� • � ' Yn their entirety and replac�d witb the follawing: ' � ;� ..
<br /> ,.a�. r. ,
<br /> �. T.,,,;:, , � t f) (i> tnterest Rate. � , i . . .
<br /> .=�:�=�:' '
<br /> �_�-,
<br /> : -�- ' . �
<br /> �� t����: n n The Second i� • . �
<br /> - Prcmissory Note ahall bear tere,st as of May,i. 1993, aon�uted as i ._____ __:.
<br /> - aet forth in the Second Amended Second Promissory Note which is : �
<br /> � iacorporated herein by this reference. ° '- - -
<br /> ,,�,�.i _ _� � -. � �.
<br /> w:�' �ii) Second Amended Third pram3.ssorv Nate. T'he ` -
<br /> ` `' Third Prvm3.ssozy Note shail bear interest as of May 1, 1993, i.� . .
<br /> ;-�� : .
<br /> � caa►�uted ae aet �orth� in the SeconB Ameaded Thisd rirvmisgory Note
<br /> ° ° �vhich ia inEOrporated herein•by this reference. ` �
<br /> �,� • ; .
<br /> . :�—.�_. ._. .. _. -�-.� Paragra�hs �f9}-�f� and -�Eg#-f-�� �r$���reb3� -de�e�� s,� - �;-----
<br /> _ _. _ . ._ .. �_ - .-
<br />�:_. . their entirety aad rep�.aced with the fo�Io�ingr , , : ,
<br /> . � �
<br /> _ ' " s�uo��.i . � . , -7- , � • i,
<br /> � '
<br /> i . . _ . , ,� . , '
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