RENEWAL, EXTENSION AND
MODIFICATION AGREEMENT
|
Effective
Date:
|
April 13,
2007
|
|
|
|
|
Original
Note:
|
|
|
Date:
|
April 13,
2006
|
|
Amount:
|
$2,500,000.00
|
|
Original
Maker:
|
Landwin REIT,
Inc.
|
|
Original
Payee:
|
SmithDennison
Capital, LLC
|
|
|
|
|
New Maturity
Date:
|
April 13,
2008
|
|
Current
Principal Balance (Amount Financed):
|
$2,500,000.00
|
|
Current
Borrower (If same as Original Maker enter "N/C"):
|
N/C
|
|
Holder (If same
as Original Payee enter "N/C"):
|
N/C
|
|
Interest
Rate:
|
As stated in
the Original Note.
|
|
|
|
|
Payment
Schedule:
|
All principal
and accrued and unpaid interest is due and payable on the New
Maturity Date.
|
|
|
|
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Other
Modifications:
|
None
|
This
RENEWAL, EXTENSION AND MODIFICATION AGREEMENT (this "
Renewal ") is to be effective as of the Effective
Date.
Current
Borrower and Holder agree as follows:
1.
Renewal . The Original Note is renewed and extended
by changing the maturity date to the New Maturity Date, and is also
modified as set forth above under " Interest."
2.
Ratification . Except as modified, renewed and
extended by this Renewal, the parties in all respects ratify and
confirm the Original Note and the Original Note as modified,
renewed and extended by this Renewal will be construed as one and
the same instrument.
3.
Release . In consideration of the agreement of Holder
to enter into this Renewal, which consideration is agreed by
Current Borrower to be good and sufficient, Current Borrower hereby
RELEASES, ACQUITS AND FOREVER DISCHARGES Holder, its directors,
officers, shareholders, agents, contractors, employees,
affiliate
