Exhibit 10.68
This instrument was prepared by
and, after recording, return to:
Schwartz, Cooper, Xxxxxxxxxxx
& Xxxxxx Chartered
000 Xxxxx XxXxxxx Xxxxxx
Xxxxx 0000
Xxxxxxx, Xxxxxxxx 00000
Attn: Xxxx X. Xxxxx, Esq.
FIFTH AMENDMENT OF CONSTRUCTION
LOAN AGREEMENT, NOTES, DEED OF TRUST AND OTHER LOAN DOCUMENTS
THIS FIFTH AMENDMENT OF CONSTRUCTION LOAN AGREEMENT, NOTES, DEED OF TRUST
AND OTHER LOAN DOCUMENTS (this "Amendment") is made as of June ____, 2003, by
and between CMC HEARTLAND PARTNERS VII, LLC, a Delaware limited liability
company, whose mailing address is c/o CMC Heartland Partners, 000 X. Xxxxxxxxx
Xxxxxx, Xxxxx 000, Xxxxxxx, Xxxxxxxx 00000 ("Borrower") and BANK ONE, NA, as
successor in interest to Bank One, Illinois, N.A., whose mailing address is 0
Xxxx Xxx Xxxxx, Xxxxxxx, Xxxxxxxx 00000, Mail Code, WI1-2071 n ("Lender").
RECITALS:
A. Pursuant to and in accordance with the terms and conditions set forth
in that certain Construction Loan Agreement dated as of December 9, 1999 by and
between Borrower and Lender (the "Original Loan Agreement"), Lender agreed to
make a construction loan to Borrower in an amount not to exceed the maximum
principal sum of $5,000,000 (the "Original Loan").
B. The Original Loan Agreement has been amended by (i) that certain First
Amendment of Construction Loan Agreement, Note, Deed of Trust and Other Loan
Documents dated as of December 8, 2000, by and between Borrower and Lender and
recorded at Book 1688, page 000, Xxxxx Xxxxxx Xxxxxxxx, Xxxxx Xxxxxxxx on
December 14, 2000 (the "First Amendment"), (ii) that certain Second Amendment of
Construction Loan Agreement, Notes, Deed of Trust and Other Loan Documents dated
as of April 12, 2001, by and between Borrower and Lender and recorded at Book
1771, page 376-392, Xxxxx County Registry, North Carolina on June 8, 2001 (the
"Second Amendment"), (iii) that certain Third Amendment of Construction Loan
Agreement, Notes, Deed of Trust and Other Loan Documents dated as of April 12,
2002, by and between Borrower and Lender and recorded at Book 2002, page
414-429, Xxxxx County Registry, North Carolina on June 14, 2002 (the "Third
Amendment"), and (iv) and that certain Fourth Amendment of Construction Loan
Agreement, Notes, Deed of Trust and Other Loan Documents dated as of April 12,
2003, by and between Borrower and Lender and recorded at Book ____, page
________, Xxxxx County Registry, North Carolina on June ___, 2003 (the "Fourth
Amendment"). The First Amendment (i) extended the "Maturity Date" of the
Original Loan to Xxxxx 00, 0000, (xx) reduced the maximum amount of the Original
Loan to $3,000,000, (iii) provided Borrower with a new $250,000 loan (the
"Acquisition Loan"), (iv) added the Remaining Land (as defined in the First
Amendment) to the Deed of Trust (as hereinafter defined), and (v)
cross-defaulted and cross-collateralized the Original Loan and the Acquisition
Loan. The Second Amendment further extended the "Maturity Date" of the Original
Loan and the Acquisition Loan to April 12, 2002. The Third Amendment further
extended the Original Loan and the Acquistion Loan. The Fourth Amendment further
extended the Original Loan. The Original Loan Agreement as amended by the First
Amendment, the Second Amendment, the Third Amendment, the Fourth Amendment and
hereinafter amended, restated, modified or supplemented from time to time and in
effect is hereinafter referred to as the "Loan Agreement".
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C. The Original Loan is evidenced by a certain Note dated December 9, 1999
(the "Original Note") in the original principal amount of $5,000,000 made by
Borrower and payable to Lender. The Acquisition Loan is evidenced by a certain
Note dated December 12, 2000 (the "Acquisition Note") in the original principal
amount of $250,000 made by Borrower and payable to Lender. The Original Note and
the Acquisition Note as each have been amended by the First Amendment, the
Second Amendment, the Third Amendment, and the Fourth Amendment are collectively
referred to herein as the "Notes".
D. The Notes are secured by, among other things, a Deed of Trust dated as
of December 9, 1999 made by Borrower to Chicago Title Insurance Company, as
trustee, for the benefit of Lender and recorded at Book 1576, page 93, Xxxxx
County Registry, North Carolina on December 9, 1999, as amended by the First
Amendment, the Second Amendment, the Third Amendment, and the Fourth Amendment
(the "Deed of Trust") creating a first mortgage lien on certain real estate
located in the town of Southern Pines, North Carolina and legally described on
Exhibit A attached hereto.
E. The Notes are also secured by, among other things, an Assignment of
Rents and Leases made by Borrower in favor of Lender and recorded at Book 1576,
page 93, Xxxxx County Registry, North Carolina, on December 9, 1999, as amended
by the First Amendment, the Second Amendment, the Third Amendment, and the
Fourth Amendment (the "Assignment of Rents").
F. The Notes are further secured by certain other Loan Documents (as that
term is defined in the Loan Agreement), the provisions of which were modified by
and in accordance with the terms and conditions set forth in the First
Amendment, the Second Amendment, the Third Amendment, and the Fourth Amendment.
NOW, THEREFORE, for good and valuable consideration, the receipt and
sufficiency of which are hereby acknowledged, Borrower and Lender hereby agree
as follows:
1. Incorporation of Recitals. The Recitals set forth above are
incorporated herein and made a part hereof.
2. Definitions. All capitalized terms used herein and not otherwise
defined shall have the meaning ascribed thereto in the Loan Agreement.
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3. Advance Rate for Sold Units. Notwithstanding anything to the contrary
contained in Section 3.1(a) of the Loan Agreement, the Advance Rate for a Sold
Unit shall not exceed the lesser of 90% of the cost of such Sold Unit, and 80%
of the appraised value of such Sold Unit.
4. Mandatory Repayment. Notwithstanding anything to the contrary contained
in Section 3.3(c) of the Loan Agreement, Borrower must make a mandatory
principal payment with respect to the Original Loan equal to the aggregate
unpaid amount of the Original Loan that was disbursed with respect to a Model
Unit twenty-four months after the date on which the first draw proceeds of the
Original Loan for such Model Unit was made.
5. Required Deliveries. This Amendment shall become effective on the date
this Amendment has been duly executed by Borrower and delivered to Lender.
6. References. All references to the Loan Agreement, the Original Note,
the Deed of Trust and the other Loan Documents contained in any of the Loan
Documents shall be deemed to refer to each of such documents as amended by this
Amendment.
7. Authority to Execute Amendment; No Conflict. Borrower represents and
warrants that it has full power and authority to execute and deliver this
Amendment and to perform its obligations hereunder. Upon the execution and
delivery hereof, this Amendment will be valid, binding and enforceable upon
Borrower in accordance with its terms. Execution and delivery of this Amendment
does not and will not contravene, conflict with, violate or constitute a default
under any applicable law, rule, regulation, judgment, decree or order or any
agreement, indenture or instrument to which Borrower is a party or is bound.
8. Amendment Binding. This Amendment shall be binding on the Borrower and
its successors and permitted assigns, and shall inure to the benefit of Lender
and its successors and assigns.
9. Continued Effectiveness. Except as expressly provided herein, the Loan
Agreement, the Original Note and the other Loan Documents shall remain in full
force and effect in accordance with their respective terms.
10. Counterparts. This Amendment may be executed in counterparts, and all
said counterparts when taken together shall constitute one and the same
Amendment.
[remainder of page intentionally blank; signature page to follow]
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IN WITNESS WHEREOF, this Amendment has been entered into as of the date
first above written.
CMC HEARTLAND PARTNERS VII, LLC, a BANK ONE, NA, a national banking
Delaware limited liability company association
By: CMC Heartland Partners, a Delaware
general partnership, the sole By: _______________________________
member of Borrower. Title: ____________________________
By: HTI Interests, LLC, a Delaware
limited liability company as its
managing partner
By: ______________________
Title:_____________________
Attest: ____________________
Title: _____________________
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STATE OF )
)SS
COUNTY OF )
I, _______________________, a Notary Public in and for said County, in the
State aforesaid, do hereby certify that Xxxxxx Xxxxxxx is personally known to me
to be the same person whose name is subscribed to the foregoing instrument as
such First Vice President, of Bank One, NA, a national banking association (the
"Bank"), appeared before me this day in person and severally acknowledged that
he signed and delivered the said instrument as his own free and voluntary act,
and as the free and voluntary act of the Bank for the uses and purposes therein
set forth.
GIVEN under my hand and notarial seal this ____ day of June, 2003.
NOTARY PUBLIC
STATE OF ILLINOIS )
)SS
COUNTY OF XXXX )
I, __________, a Notary Public in and for said County, in the State
aforesaid, do hereby certify that __________, the __________ of HTI Interests,
LLC, the managing partner of CMC Heartland Partners which is the sole member of
CMC Heartland Partners VII, LLC, and __________, the __________ thereof, who are
personally known to me to be the same persons whose name are subscribed to the
foregoing instrument as such __________ and __________, respectively, appeared
before me this day in person and acknowledged that they signed and delivered the
said instrument as their own free and voluntary act and as the free and
voluntary act of said limited liability company, for the uses and purposes
therein set forth.
GIVEN under my hand and notarial seal, this ____ day of June, 2003.
_____________
NOTARY PUBLIC
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EXHIBIT A
EXHIBIT A
Legal Description
PARCEL ONE: Existing Single Family Xxxx
Xxx 000X, Xxxxxxx Homes, as shown on plat recorded in Plat Cabinet 5, Slide 214,
Xxxxx County Registry.
Xxx 000X, Xxxxxxx Homes, as shown on plat recorded in Plat Cabinet 5, Slide 91,
Xxxxx County Registry.
Xxxx 000X, 000, 000, 000, 000, 000, 000, 000, 660, 661, 663, 665, 667, 669, 674,
675, 677, 678, 681, 682 and 683, Fairway Homes, as shown on plat recorded in
Plat Cabinet 5, Slide 970, Xxxxx County Registry.
Xxx 000, Xxxxxx Xxxxx, as shown on plat recorded in Plat Cabinet 5, Slide 24,
Xxxxx County Registry.
Xxxx 000, 000 xxx 000, Xxxxxx Xxxxx, as shown on plat recorded in Plat Cabinet
5, Slide 187 Xxxxx County Registry.
Xxx 000X, Xxxxxx Xxxxx, as shown on plat recorded in Plat Cabinet 6, Slide 266,
Xxxxx County Registry.
Lots 256 and 258, Hunter Trail, as shown on plat recorded in Plat Cabinet 5,
Slide 356, Xxxxx County Registry.
Lots 701, 718, 720, 721, 722, 724, 726, 727, 728, 730, 731, 733, 735, 736, 739,
740, 741, 743, 744 and 745, Patio "G" Homes, as shown on plat recorded in Plat
Cabinet 0, Xxxxxx 000-000, Xxxxx Xxxxxx Registry.
Lot 304, Magnolia Homes, as shown on plat recorded in Plat Cabinet 7, Slide 919,
Xxxxx Country Registry.
Lot 321, Magnolia Homes, as shown on plat recorded in Plat Cabinet 6, Slide
3.26, Xxxxx County Registry.
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PARCEL TWO: Magnolia Drive Parcel
8.91 acre tract of land as shown on plat recorded in Plat Cabinet 4, Slide 51
and Tract I as described in Book 649, Page 205, Xxxxx County Registry, more
particularly described as follows:
BEGINNING at an iron stake in the eastern right of way of Xxxxx Road, said stake
lying North 09(degree)44'26" East 354.58 feet from the intersection of the
eastern right of way of Xxxxx Road and the northern right of way of Midland
Road, thence along the eastern right of way of Xxxxx Xxxx, Xxxxx
00(xxxxxx)00'00" Xxxx 21.25 feet; thence on a curve to the right with a radius
of 860.0 feet, an arc distance of 168.05 feet, a chord bearing North
15(degree)20'18" East 167.78 feet; thence on a curve to the right with a radius
of 860.0 feet, an arc distance of 390.71 feet, a chord bearing North
33(degree)57'06" East 387.36 feet; thence North 46(degree)58'00" East 731.34
feet; thence leaving the right of way of Xxxxx Xxxx Xxxxx 00(xxxxxx)00'0" Xxxx
814.69 feet; thence South 00(degree)00'34" West 274.39 feet; thence South
56(degree)40'34" West 176.87 feet; thence North 70(degree)03'26" West 476.25
feet to the point of beginning.
EXCEPTING THEREFROM, those planed lots, streets, street right of ways and common
area (except that land noted as common area on plat recorded in Plat Cabinet 6,
Slide 326 which is located North of the pond adjacent to Xxx 000, Xxxx xx Xxxxx
Xxxx, Xxxxx of pond at the entrance to Magnolia Park and West of Magnolia Drive
is not excluded) as shown on Plat Cabinet 4, Slide 220, Plat Cabinet 5, Slide
569, Plat Cabinet 6, Slide 326 and Plat Cabinet 6, Slide 605, Xxxxx County
Registry.
(LRK # 00035767)
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PARCEL THREE: Fifteenth Hole Parcel
A CERTAIN LOT OR PARCEL OF LAND IN MCNEILLS TOWNSHIP, XXXXX COUNTY,
NORTH CAROLINA LYING ABOUT 1400 FEET SOUTH OF SEALS ROAD (STATE ROAD NO.
1843) BETWEEN THE TOWNS OF SOUTHERN PINES AND PINEHURST, BOUNDED ON THE NORTH
AND EAST BY XXXXXX PROPERTIES, INC. (GRANTOR) AND ON THE SOUTH AND WEST BY
STARLAND FARMS LIMITED PARTNERSHIP (GRANTEE), DESCRIBED AS FOLLOWS;
BEGINNING AT AN IRON STAKE LOCATED ABOUT 0000 XXXX XXXXX XX XXXXX XXXX, XX
THE EAST LINE OF XXXXX ROAD, SAID IRON STAKE BEING A COMMON CORNER OF A 46.98
ACRE TRACT NO. 4 AND A 12.74 ACRE TRACT AS SHOWN ON A PLAT OF STARLAND FARMS
LIMITED PARTNERSHIP RECORDED IN PLAT CABINET 4 AT SLIDE 51 IN THE XXXXX COUNTY
REGISTRY; RUNNING THENCE FROM THE BEGINNING AS THE COMMON LINE OF GRANTOR AND
GRANTEE, AS THE EAST LINE OF XXXXX ROAD N 14-08'10" E 320.57 FEET TO AN IRON
STAKE IN THE EAST LINE OF XXXXX ROAD AND IN THE COMMON LINE OF GRANTOR AND
GRANTEE; THENCE AS A NEW LINE S 83-07'39" E 146.65 FEET TO AN IRON STAKE; THENCE
S 45-19'07" E 86.47 FEET TO AN IRON STAKE; THENCE S 42-54'29" E 100.44 FEET TO
AN IRON STAKE NEAR THE NORTH SHORELINE OF A LAKE (THE NORTHEAST CORNER OF A 20
FOOT WIDE EASEMENT FOR THE CONSTRUCTION OF A BRIDGE ACROSS THE LAKE); THENCE AS
THE FOLLOWING LINES NEAR THE SHORELINE OF THE LAKE S 80-53'34" W 81.47 FEET TO
AN IRON STAKE; THENCE N 68-56'38" W 84.26 FEET TO AN IRON STAKE; THENCE S
72-41'24" W 119.40 FEET TO AN IRON STAKE; THENCE S 88-48'19" W 34.74 FEET TO AN
IRON STAKE; THENCE S 00-53'57" W 27.41 FEET TO AN IRON STAKE; THENCE S 36-12'27"
E 83.38 FEET TO AN IRON STAKE IN THE COMMON LINE OF GRANTOR AND GRANTEE; THENCE
AS THE COMMON LINE OF GRANTOR AND GRANTEE S 79-58'25" W 109.40 FEET TO THE
BEGINNING, CONTAINING 0.951 ACRE MORE OR LESS AND BEING A PORTION OF GRANTOR'S
46.98 ACRE TRACT NO. 4 AS SHOWN ON A PLAT OF STARLAND FARMS LIMITED PARTNERSHIP
RECORDED IN PLAT CABINET 4 AT SLIDE 51 IN THE XXXXX COUNTY REGISTRY.
ALSO CONVEYED IS A 20 FOOT WIDE EASEMENT FOR THE CONSTRUCTION AND
MAINTENANCE OF A BRIDGE ACROSS A LAKE, EASEMENT BEING 20 FEET IN WIDTH, LYING
ADJACENT TO, RUNNING PARALLEL WITH AND LYING ON THE SOUTHWEST SIDE OF THE
FOLLOWING DESCRIBED LINE;
BEGINNING AT THE EAST CORNER OF THE ABOVE DESCRIBED 0.951 ACRE PARCEL ON THE
NORTH SHORELINE OF THE LAKE, SAID IRON STAKE BRING DESCRIBED IN THE ABOVE TRACT
AS BEING "(THE NORTHEAST CORNER OF A 20 FOOT WIDE EASEMENT FOR THE CONSTRUCTION
OF A BRIDGE ACROSS THE LAKE)"; THENCE AS SAID LINE S 36-42'57" E 151.02 FEET TO
AN IRON STAKE ON THE SOUTH SHORELINE OF THE LAKE, THE END OF THIS EASEMENT.
LRK # 00041502
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PARCEL FOUR: Meadow Parcel
17.25 acre tract of land as shown on plat recorded in Plat Cabinet 6, Slide
685, Xxxxx County Registry. (LRK #00035767)
EXCEPTING THEREFROM, that following tracts of land:
1. tract of land shown in Unit Ownership Book 13, Pages 1-22.
(Buildings 6, 7 and 8, Meadow Villas)
2. tract of land shown in Unit Ownership Book 13, Pages 58-65.
(Building 4, Meadow Villas)
3. tract of land shown in Unit Ownership Book 13, Pages 66-73 (Building
2, Meadow Villas)
4. tract of land shown in Unit Ownership Book 13, Pages 80-86 (Building
1, Meadow Villas)
5. tract of land shown in Unit Ownership Book 13, Pages 87-94 (Building
10, Meadow Villas)
6. tract of land shown in Unit Ownership Book 13, Pages 41-48 (Building
3, Meadow Villas)
7. tract of land shown in Unit Ownership Book 13, Pages 52-57 (Building
5, Meadow Villas)
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PARCEL FIVE: Area F Parcel
13.79 acre tract of land as shown on plat recorded in Plat Cabinet 4, Slide
51, Xxxxx County Registry. (LRK #00992022 and #00041500)
TOGETHER WITH a certain tract or parcel of land in McNeills Township, Xxxxx
County, North Carolina, lying between Pinehurst and Southern Pines, N.C., lying
about 1000 feet south of Xxxxx Xxxx (Xxxxx Xxxx Xx. 0000) and on the southwest
side of the proposed 80 foot wide Xxxxx Road, described as follows:
BEGINNING AT AN IRON STAKE IN THE NORTHWEST LINE OF THE PROPOSED 80 FOOT
WIDE XXXXX ROAD; SAID STAKE BEING LOCATED S 14(degree) 08' 10" W 187.77 FEET
FROM THE NORTHERN MOST XXXXXX XX XXXXX XX. 0 (00.00 XXXXX) AS SHOWN ON A MAP
ENTITLED STARLAND FARMS LIMITED PARTNERSHIP PROPERTY RECORDED IN PLAT CABINET 4
AT SLIDE 51 IN THE XXXXX COUNTY REGISTRY; RUNNING THENCE FROM THE BEGINNING
LEAVING THE PROPOSED ROAD, WITH THE COMMON LINE OF TRACT NO. 3 AND A 13.79 ACRE
TRACT SHOWN ON THE ABOVE MENTIONED MAP, S 61(degree) 56' 35" W 609.83 FEET TO AN
IRON STAKE; THENCE CONTINUING WITH SAID COMMON LINE S 65(degree) 03' 17" W
500.64 FEET TO AN IRON STAKE; A COMMON CORNER OF TRACT NO. 3 WITH THE 13.79 ACRE
TRACT; THENCE AS NEW LINES, N 06(degree) 03' 29" W 38.75 FEET TO AN IRON STAKE;
THENCE N 61(degree) 17' 43" E 238.53 FEET TO AN IRON STAKE; THENCE N 64(degree)
41' 03" E 263.51 FEET TO AN IRON STAKE; THENCE N 61(degree) 43' 53" E 327.73
FEET TO AN IRON STAKE; THENCE N 61(degree) 09' 52" E 120.49 FEET TO AN IRON
STAKE; THENCE N 83(degree) 02' 10" E 155.73 FEET TO THE BEGINNING, CONTAINING
1.222 ACRES MORE OR LESS, AND BEING MORE PARTICULARLY SHOWN ON A MAP ENTITLED
"XXXXXX PROPERTIES, INC., & LONGLEAF ASSOCIATE LIMITED PARTNERSHIP PROPERTY,
0.000 XXXX XXXXXX, XXXXXXXX XXXXXXXX, XXXXX XXXXXX, XXXXX XXXXXXXX," DATED
AUGUST 15, 1989, DRAWN FROM AN ACTUAL SURVEY BY C. H. BLUE AND ASSOCIATES
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PARCEL SIX: Club Cottages Parcel
3.24 acre tract of land labeled "Inn Tract", as shown on plat recorded in Plat
Cabinet 4, Slide 51 and Tract 2 described in Book 649, Page 205, Xxxxx County
Registry.
EXCEPTING THEREFROM, those tracts of land shown in Unit Ownership Book 11, Pages
41-47 and Unit Ownership Book 11, Pages 55-61, Xxxxx County Registry.
LRK # 00035770
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PARCEL SEVEN: Miscellaneous Parcels
1. Xxx 000, Xxxxxxx Homes, as shown on plat recorded in Plat Cabinet 5,
Slide 970.
2. Xxx 000, Xxxxxx Xxxxx, as shown on plat recorded in Plat Cabinet 5,
Slide 24, Xxxxx County Registry. (this lot was resold back to
Longleaf - LRK #00992215)
3. Lot A, Hunter Trail, as shown on plat recorded in Plat Cabinet 5,
Slide 583, Xxxxx County Registry. (labeled as non-buildable parcel -
LRK #94000722)
4. Land labeled as "Open Space" near Airport Road, as shown on plat
recorded in Plat Cabinet 5, Slide 532, Xxxxx County Registry.
(tracts of land remaining after Patio Homes "G" was platted - LRK
#00041674, 10001461, 10002144)
5. That portion of a 10.43 acre tract of land lying south of Airport
Road and west of Xxxxx Road, as shown on plat recorded in Plat
Cabinet 4, Slide 51. (tract of land remaining after Fairway Homes
was platted - LRK #00041674)
6. Units 301 and 302, Magnolia Homes, as shown on plat recorded in Plat
Cabinet 4, Slide 220, Xxxxx County Registry. (sales office - LRK
#00035771 and #00035772)
7. Tract of land lying south of Xxx 000 xxx xxxxx xx Xxx. 000, Xxxxxxx
Homes and west of Steeplechase Way as shown on plat recorded in Plat
Cabinet 5, Slide 970, Xxxxx County Registry. (tract of land
remaining after Fairway Homes was platted - LRK #95000456)
8. Land labeled as "Open Space" near Xxxxx Road, as shown on plat
recorded in Plat Cabinet 5, Slide 532, Xxxxx County Registry. (tract
of land remaining after Patio Homes "G" was platted - LRK #10001432)
9. Area in Lakeside Villas for access purposes. remaining after
platting. (LRK #00035769)
10. Land labeled as "Open Space" near Lot 721, Patio Homes "G", as shown
on plat recorded in Plat Cabinet 5, Slide 532, Xxxxx County
Registry. (tract of land remaining after Patio Homes "G" was platted
- LRK #00041501)
11. Land labeled as "Reserved for Future Development" near Hunter Trail,
as shown on plat recorded in Plat Cabinet 5, Slide 356, Xxxxx County
Registry. (tract of land remaining after Hunter Trail was platted -
LRK #10001508)
12. Area remaining in Meadow Villas, Building 3, after Units were sold.
(LRK #99000076)
13. Area remaining in Meadow Villas, Building 5, after Units were sold.
(LRK #99000488)
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14. All rights and obligations set forth in that certain Easement of
Enjoyment from Xxxxxx Properties, Inc., to Longleaf Associates
Limited Partnership recorded in Book 719, Page 85, Xxxxx County
Registry, reference to which is hereby made.
15. All. rights, title, and interest of the Grantee as Assignee in, to
and under that certain Assignment of Permits and Developer's Rights
dated December 12, 2000, between the Grantee as Assignee and
Longleaf as Assignor, reference to which Assignment is herewith
made.
Excepting therefrom, the following:
1. Unit Number 158 of the Xxxxxxx Villas Condominiums.
2. Xxx Xxxxxx 00 xx Xxxxxxx Xxxxx, Xxxxx 0.
3. Unit Number 204 of the Meadow Villas Condominiums.
4. Unit Number 208 of the Meadow Villas Condominiums.
5. Unit Number 170 of the Meadow Villas Condominiums.
6. Unit Number 216 of the Meadow Villas Condominiums.
7. Unit Number 156 of the Meadow Villas Condominiums.
8. Unit Number 160 of the Meadow Villas Condominiums.
9. Lot Number 726 of the Patio "G" Homes.
10. Lot 241 of Hunter Trail Townhouses.
11. Unit Number 162 of the Meadow Villas Condominiums.
12. Lot Number 701 of the Patio "G" Homes.
13. Lot Number 720R of the Patio "G" Homes.
14. Lot Number 729 of the Patio "G" Homes.
15. Unit Number 174 of the Meadow Villas Condominiums.
16. Xxx Xxxxxx 000 xx Xxxxxxx Xxxxx, Xxxxx 0.
17. Lot 304, Magnolia Homes.
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