EXHIBIT 99.12
FIRST AMENDMENT TO LIMITED RECOURSE GUARANTY [LAKE XXXXXX]
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THIS FIRST AMENDMENT TO LIMITED RECOURSE GUARANTY [LAKE XXXXXX] (this
"Amendment") is made as of August 31, 1994, by PRIME GROUP II, L.P., an Illinois
limited partnership ("Guarantor"), and XXXXXX INVESTORS LIFE INSURANCE COMPANY,
an Illinois insurance corporation ("Lender").
RECITALS:
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WHEREAS, Guarantor has executed and delivered to Lender a certain
Limited Recourse Guaranty [Lake Xxxxxx], made as of March 22, 1994 (the
"Guaranty"); and
WHEREAS, Guarantor and Lender desire to amend and modify the Guaranty
as provided herein.
NOW, THEREFORE, in consideration of the foregoing premises, and for
other good and valuable consideration, the receipt and sufficiency of which are
hereby acknowledged, Guarantor and Lender hereby agree as follows:
1. The Guaranty is hereby amended and modified to substitute as
Exhibit A thereto the "Exhibit A" attached hereto and made a part hereof.
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2. Except to the extent expressly amended and modified hereby, the
Guaranty shall remain in full force and effect, unmodified, in accordance with
its terms.
[Signature Page Follows]
1
IN WITNESS WHEREOF, the parties have caused this Amendment to be
executed and delivered as of the date and year first above written.
PRIME GROUP II, L.P., an Illinois limited partnership
By: PGLP, Inc., an Illinois corporation, its General
Partner
By: /s/ Xxxxxxx X. Xxxxxxx
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Its: President
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XXXXXX INVESTORS LIFE INSURANCE COMPANY, an Illinois
insurance corporation
By: /s/ Xxxx X. Xxxx
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Its: Authorized Signatory
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EXHIBIT A
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LAKE XXXXXX
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Project: The Island on Lake Xxxxxx
Lender: Xxxxxx Investors Life Insurance Company ("KILICO"). KILICO has
provided credit support/enhancement with resect to the Loan.
Borrower: The Island on Lake Xxxxxx, Ltd., a Texas limited partnership
Loan: The Loan made pursuant to the Loan Agreement between Capital
Health Facilities Development Corporation and Borrower dated
12/1/86 in connection with the $25,000,000 Capital Health
Facilities Development Corporation Health Facilities Development
Revenue Bonds (The Island on Lake Xxxxxx, Ltd. Project) Series
1986; the "Loan" shall include principal and interest payable
under any note or other reimbursement obligation of Borrower to
Lender relating to Lender's credit support/enhancement of the
Loan
