Exhibit 10.1 LOAN AGREEMENT THIS LOAN AGREEMENT ("Agreement") is dated effective September 18, 2006, by and between AMREP SOUTHWEST, INC., a New Mexico corporation ("Borrower"), and COMPASS BANK, ("Bank"). SECTION ONE ----------- CREDIT TERMS...Loan Agreement • September 21st, 2006 • Amrep Corp • Services-business services, nec • New Mexico
