AMENDMENT NO. 1 TO
AMENDED AND RESTATED REIT ADVISORY AGREEMENT
CHURCH LOAN ADVISORS, INC.
THIS AMENDMENT NO. 1 TO AMENDED AND RESTATED REIT ADVISORY AGREEMENT is
entered into as of this 1st day of January, 1999, between AMERICAN CHURCH
MORTGAGE COMPANY, a Minnesota corporation (the "Company"), and CHURCH LOAN
ADVISORS, INC., a Minnesota corporation (the "Advisor").
WHEREAS, the Company and the Advisor are parties to that certain
Amended and Restated REIT Advisory Agreement dated as of May 19, 1995
(hereinafter the "Advisory Agreement"); and
WHEREAS, the Advisor and the Company desire to amend the provisions of
the Advisory Agreement and evidence such amendment by this Agreement.
NOW, THEREFORE, in consideration of the foregoing, and the promises and
mutual covenants and agreements hereinafter set forth, the parties agree that
the Advisory Agreement is hereby amended as follows:
1. ARTICLE VII - TERM AND TERMINATION, Section 7.3 "Termination
Fee" is hereby deleted in its entirety and shall no longer
have any force and effect. This Section 7.3 shall be deemed to
be "left blank" for all future purposes and other Sections of
Article VII shall remain as originally designated.
2. Except as specifically set forth in "1" above, the Advisory
Agreement shall remain in full force and effect in accordance
with its original terms and provisions.
IN WITNESS WHEREOF, the parties hereto have caused this Amendment to
the Advisory Agreement to be executed by their duly authorized officers as of
the day and year first above written.
AMERICAN CHURCH MORTGAGE COMPANY
By: /s/ Xxxxx X. Xxxxxxx
Xxxxx X. Xxxxxxxx, President
CHURCH LOAN ADVISORS, INC.
By: /s/ Xxxxxx X. Xxxxx
Xxxxxx X. Xxxxx, President
REIT.amendmenttoAdvisoryAgreement
