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<br /> . , �9�.�f). �g���men�,� Secand �Pra�nissa,�xot�. Tl�e �
<br /> � t of the p�.ncip�7: and iaterest on the Second Proau.ssory Note .
<br /> � � , ��be as°set fartti in.the Secoad Amended Second Pra�nisspxY Npte. � � .
<br /> . : , , , . � . � •�� .
<br /> — - - ---- - - - � ' �ii}. Secp d �ird`Pro�missorv Note. The payarent � -
<br /> - . o�_�fie�Pr�icipa�. and i.nterest an t.he Tni.rd Prc�aissary Note she�ll be ' ,
<br /> = as set` forth in Che $econd Amerided Tlaird Pranissory Note.` .
<br /> ':�. . ` :: _
<br />�';�-, T�is Paragraph $ _amends.•aad modi€ies the Congtsucxion Loan .
<br />"r" Agredneat and incorporates hereia the Constru�cta.t�n Loan Aqreem�nt .
<br />_,_... .
<br />=.-- , �1� reference. The paicties-agree that sIwulc3 the terms uadei this �` � .
<br /> - - -- paragrapla 8 and t�e terms: of the� t�rn�struction I,oan .A�reement be -
<br />-�� , � ;*+��*�+�istent, the ter�ns of this Para�raph 8 sball control. , �
<br />�k , � �
<br />.�:°� 9. Saie o� Praoertv. Borrawer and Lender agree that if any , �
<br /> part Qf the Prope�ty des�cribed on Exhibit �A� is so3.d, �ransfesxe8.
<br /> or conveyed thea the net' proce�ds of • such sale, transfer or
<br /> ' . conveyaace°s33a11 �e applied to the Loaa and the adj�st� tu�p�aid =�_-- -
<br /> pri.ncipal sbal.l be reamortized on a texm ending May 1, 2010 €or the � � _==-
<br /> � , Seaond Amend�d Se�baa Prpmissory Note and May -1,� 2008 far the _ �_ =T"`�-
<br /> • Secand Amended Third Pranissory Note, the mOnthly paymenta�sl,�a].l be -i
<br /> �=.�-
<br /> � _� ., ;. ; � ad3usted acao�dingly'and the May 1, 1998 Maturity Date shall remain �; .
<br /> `�, =:~xra�:f�T: � th2 s�. - : . , � ;xs=:.;
<br /> [. •�,y�..,���1- - .4 � . . � . Y�.J�H -—
<br /> 4
<br /> an.tl—r4'... '• ' _._ � ` �'.�� SLJ _
<br /> _ _=;:. � �10. Defenses. Borrower ased Arter have no defenses or offsets � a
<br /> � ��'f`=�. : `.�:;. `�- against the payment oF principa2 or interest of the uapaid ba2a�aae _
<br /> u:.<.:_.�.: � -
<br /> .-r,-._,��� . ���as� set forth i.n Paragraphs 3 aad 5 above. . _.
<br /> ..._•!. �.: : ,} : _
<br /> ��� ' � �� 11.. Reaffirmation. Borrower aad Arter reaffirna, represe�t . �-=.:��°�
<br /> `l*! .=�....y..,, . 7 .'� r�=�.:.
<br /> _ ;,�;,;•���. .,`'_'.' , and warraat, (wlu.ch reaffirmation, representatien and warranties
<br /> shall susvi.ve the termination of the I,oan Documents, as amEnded and '����'`�
<br /> � . � . . �:� .
<br /> �=��--��.:- _� de�ined kerein, , a�ad t�he repayment of aay loans made �pursuaat. :;�:,#x:�;..
<br /> :.:.,�. ' , thereto) the warranties, represen�ations, covenants, tezzas� and � �`: �
<br /> - � `''y�. .� `�� '� . COriCU.t10ri8 as contained i�n the 3econd Pramissory Note, as ameaded "
<br /> � • and restated as the Secand Amended Second Promissory Note, Tbird _ :
<br /> • � .. � '� Promissory Note, as amended aad restated as the Second Ameaded =� � .
<br /> ._ '� = . � -- Third Promissosy Note, Sixth Guarantee, as amended, aad the other } � •
<br /> � ' loan Documents, as modi�a�ed and defined herein.. Such reaffirma- �
<br />_ . � ' tion, repreaentation and warranties shall not be con$trued to be a k �
<br />` �,; ;_ waiver by Lender of aay possible defaults or breaches by Borrower . i ,
<br /> f - �� � � uader the Loan Dacuments, as amended and defined herein. •
<br /> ._. : ,_ � • � . �. .�
<br /> _ _. . 12. Financial Statements. All previously aubmitCed financial �� . �_
<br /> . �� � � . '' statements to the Lender are true, comglete and accurate as of the � ��i
<br /> � � " : � date they axe aigned and Borrower agrees that if any change occurs � ` . �
<br /> . �� � . � that materiaily 'reduce� the Borrower•s means and abilities to Day � �. -�
<br /> � - � � � , all claims or demanda aqainst that particular Borrower, that ' � . ;r
<br /> = -. - - Borrower will i�ediateZy notify the Lender in writing;�and unlesa ;..,.•_..:•;. ;
<br /> - _ `� so 'noti�ied, Lender may continue to rely upon the financial � `a
<br /> ;f� ' . statemen�e as a true, complete and accurate statemen� of the ,
<br /> + ... . � Horrower�� financial condition. Borrower and Arter agree to ,
<br /> . `, , psovide Lent�er w�ith fin,ancial statements of Hdrrower, Arter and all
<br /> � � � � - _�; . related entities annual.ly,, beginni.ng May l, 1993 and each May 1 _
<br /> � � � � . . thereafter until Ma�y 1, 19�98. . �� . .
<br /> � . • , ,
<br />_ �.� � ' • ' � 13. Continued.Li�abi�].it�. Artgr and a21 other partiea who are � . .
<br /> . � .� ��� • or hereafter may become primari.ly or seconda�ily liable .for the � . �
<br /> � --�- -��; �,:�� -�-•-----�--� payment of the obligation evidenced by the Losn Documents, as . ' '
<br /> � '� � amended and redefined herein, and a� further extensiona, modifi- � � ;.
<br />- �_ :• catians, substitutioas,. ar renewals thereo€, do hereby agree to �
<br /> - �- �remain liable to the Lender, its successor$ and assign$, in the �
<br /> .,...- :
<br /> -.=;� � � • �,�;:: �' � 'event .that any readvancement, extension oE the time �for repayment '
<br /> �._ . - .
<br /> _ `- `7nc: � or modification o£ the maturity .date under the Second Amenfled � �
<br /> T}AY Second Prosnissory Nate, and/or the Seoond Amended Third Promissosy
<br /> � � . ��z-�- ���. " _ Note. is given to the Borrawer or "ita auccessors or as�igns in .
<br /> '".�` t ;{°"�"'''' ' intereat. - . .
<br /> - �-��. �- ° .
<br /> .': �'.... .
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<br /> �' ' 19. �Securitv. The Second Amended 5e.ond Promisacry Note, and
<br /> � _�``,�. " . .
<br /> ; �� _�:. . SeCOnd Amerided ThirB Pramis�ory Note, are��ecured by the Deeci of �
<br /> `:�°�..;, Trust. Lower Level Truet Deed, Parking Lot Truet Deed, and �o��er � � .
<br /> . .
<br /> �_.: . . - - . � _--.._.�_..-
<br /> --� ,--,-�, .; --- - •-Loa�.Doc�ats-taih��ia grtsv#siogs .for�ng other-t3siagsf-the - � —_- ----
<br /> .�_+er.:"'•r,'.. •
<br /> F-� - acc�leration of the Maturlty��Date of the Second Amended Second. , .
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