EX-10.57.12
FIRST AMENDMENT TO PROMISSORY
NOTE
(AMENDED AND
RESTATED)
THIS FIRST AMENDMENT TO PROMISSORY NOTE (AMENDED
AND RESTATED) (this
“First Amendment”) is executed as of the 31
st day of December, 2008 (the “Effective
Date”), by and between FRETUS INVESTORS EL PASO LP , a
Delaware limited partnership, having an address at 3131 Elliott
Avenue, Suite 500, Seattle, Washington 98121 (the
“Borrower”), and CAPMARK BANK , a Utah
industrial bank, having an address at 6955 Union Park Center, Suite
330, Midvale, Utah 84047, together with its successors and assigns
(the “Lender”).
RECITALS
A. Borrower
and certain other borrower parties executed to the order of Lender
that certain Promissory Note (Amended and Restated) dated May 1,
2008, in the original principal amount of $16,800,000.00 (the
“Note”). Unless otherwise defined herein,
capitalized terms shall have the meaning assigned to them in the
Note.
B. Concurrently
herewith the outstanding principal balance of the Note has been
reduced to $4,350,000.00 and all of the borrower parties, other
than Borrower, have been released from further liability under the
Note.
C. Borrower,
as the sole remaining Borrower under the Note, has requested that
Lender modify certain terms of the Note, and Lender has so agreed,
on the terms and conditions contained herein.
AGREEMENT
NOW, THEREFORE , in consideration of the above Recitals and
other good and valuable consideration, the receipt and sufficiency
of which are hereby acknowledged, Borrower
|
