EXHIBIT 10.10
FIRST AMENDMENT TO LOAN AGREEMENT
This First Amendment to Loan Agreement is effective as of
April 1, 2006, by and between DIVERSICARE PINEDALE, 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 March 29, 2001 (the "Agreement"). Unless otherwise defined in this First
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 First 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:
1. Paragraph 1.1, "Maturity Date" is hereby amended by
changing the date to "July 1, 2006".
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 First Amendment to be properly executed by their respective duly authorized
officers as of the date first above written.
DIVERSICARE PINEDALE, LLC, a Delaware limited
liability company
By: Diversicare Leasing Corp., a Tennessee
corporation
Its: Sole Member
By: /s/ Xxxxx Xxxxxx
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Xxxxx Xxxxxx,
Chief Financial Officer
GMAC COMMERCIAL MORTGAGE
CORPORATION, a California corporation
By /s/ Xxxxx X. XxXxxxxx
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Its Senior Vice President
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