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"'" 200710522 E. Subject to receipt of this Loan Modification Agreement, fully executed, and items "A", "B", "c" and "D" stated above, the Parties agree to amend and modify the terms and conditions of the Deed of Trust, as follows: (1) The "Note" identified in the Deed of Trust shall be that certain Replacement Note Secured by Construction Security Agreement dated of December 14, 2007, in the principal sum of Two Million Six Hundred Eighty Five Thousand Five Hundred Eighty One and 73/100 Dollars ($2,685,581.73) with a Maturity Date of December 1, 2009, which Replacement Note Secured by Construction Security Agreement dated of December 14, 2007, is a modification of and substitution for the Note Secured by Construction Security Agreement dated November 18, 2004. The Replacement Note Secured by Construction Security Agreement dated December 14, 2007 evidences the balance due and owing on the Note Secured by Construction Security Agreement dated November 18,2004. (2) The "Maturity Date" referenced in the fifth paragraph on the first page of the Deed of Trust is hereby changed to December 1,2009. (3) Paragraph 31 on Page 11 of the Deed of Trust is hereby amended to include the following: Borrower shall furnish to Lender, Borrower certified annual operating statements for the Property by April 1 of each year during the term of the loan, which statements shall be prepared in accordance with generally accepted accounting principles consistently applied. Said statements shall include a rent roll, gross income (itemized as to source), operating expenses (itemized) and net income before federal income taxes. F. All other Existing Loan Documents executed in connection with the loan are also hereby amended and modified to the extent of the foregoing modification of the Deed of Trust set forth in this Loan Modification Agreement. G. Except as expressly modified by the terms hereof, all of the terms and provisions of the Deed of Trust, and all other Existing Loan Documents evidencing or securing said indebtedness, are hereby ratified and shall remain in full force and effect. By execution hereof, Borrower and Lender concur with all provisions contained in this Loan Modification Agreement. A CREDIT AGREEMENT MUST BE IN WRITING TO BE ENFORCEABLE UNDER NEBRASKA LAW. TO PROTECT YOU AND US FROM ANY MISUNDERSTANDINGS OR DISAPPOINTMENTS, ANY CONTRACT, PROMISE, UNDERTAKING, OR OFFER TO FOREBEAR REPAYMENT OF MONEY OR TO MAKE ANY OTHER FINANCIAL ACCOMMODATION IN CONNECTION WITH THIS LOAN OF MONEY OR GRANT OR EXTENSION OF CREDIT, OR ANY AMENDMENT OF, CANCELLATION OF, WAIVER OF, OR SUBSTITUTION FOR ANY OR ALL OF THE TERMS OR PROVISIONS OF ANY INSTRUMENT OR DOCUMENT EXECUTED IN CONNECTION WITH THIS LOAN OF MONEY OR GRANT OR EXTENSION OF CREDIT, MUST BE IN WRITING TO BE EFFECTIVE. LENDER: Ti~~ By: .~~ Kurt Grosshans, First Vice President BORROWER: Equestrian Meadows, L.L.C., a Nebraska limited liability c mpany By: 7 7 Michael D. Raasch, Manager // 2