EXHIBIT 10.6
FOURTH AMENDMENT TO LOAN AGREEMENT
This Fourth Amendment to Loan Agreement is made as of June 18, 2003, by
and between DIVERSICARE ASSISTED LIVING SERVICES NC II, LLC, a Delaware limited
liability company (together with its successors and assigns, the "Borrower"),
and GMAC COMMERCIAL MORTGAGE CORPORATION, a California corporation (together
with its successors and assigns, the "Lender").
RECITALS:
A. Borrower and the Lender entered that certain Loan Agreement
dated June 4, 1999, as amended by that certain First Amendment to Loan
Agreement dated as of July 1, 2002, as amended by that certain Second Amendment
to Loan Agreement dated as of October __, 2002, and as further amended by that
certain Third Amendment to Loan Agreement dated January 1, 2003 (the
"Agreement"). Unless otherwise defined in this Fourth Amendment, capitalized
terms shall have the meaning given to them in the Agreement.
B. The Borrower and the Lender desire to amend the Agreement and
have agreed to execute this Fourth Amendment to evidence such modification.
AGREEMENT
NOW, THEREFORE, in consideration of the above Recitals, the Borrower
and the Lender hereby amend the Agreement as follows:
Paragraph 1.1, "Maturity Date" is hereby amended by changing the date
to "July 1, 2003".
Except as expressly amended hereby, the Agreement shall remain in full
force and effect in accordance with its terms.
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IN WITNESS WHEREOF, the Borrower and the Lender have caused this
Fourth Amendment to be properly executed by their respective duly authorized
officers as of the date first above written.
DIVERSICARE ASSISTED LIVING
SERVICES NC II, LLC, a Delaware limited
liability company
By: Diversicare Assisted Living Services NC, LLC
Its: Sole Member
By: /s/ Xxxxxxx X. Council, III
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Name: Xxxxxxx X. Council, III
Title: Chief Executive Officer
GMAC COMMERCIAL MORTGAGE
CORPORATION
By: /s/ Xxxxx X. XxXxxxxx
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Its: Senior Vice President
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