MORTGAGE LOAN MODIFICATION AGREEMENTMortgage Loan Modification Agreement • August 14th, 2003 • NTS Mortgage Income Fund • Real estate investment trusts
THIS MORTGAGE LOAN MODIFICATION AGREEMENT (the “Agreement”) is entered into as of the 16th day of May, 2003 by and among THE PROVIDENT BANK, an Ohio banking corporation, One East Fourth Street, Cincinnati, Ohio 45202 (the “Lender”), NTS/VIRGINIA DEVELOPMENT COMPANY (“NTS/Virginia”), a Virginia corporation, and NTS/LAKE FOREST II RESIDENTIAL CORPORATION, a Kentucky corporation (the “Borrowers”), NTS MORTGAGE INCOME FUND, A Delaware corporation and J.D. NICHOLS (the “Guarantors”).
SECOND AMENDED AND RESTATED REVOLVING PROMISSORY NOTE CONSTRUCTION MORTGAGE LOANNTS Mortgage Income Fund • August 14th, 2003 • Real estate investment trusts
WHEREAS, NTS/VIRGINIA DEVELOPMENT COMPANY (“NTS/Virginia”), a Virginia corporation, and NTS/LAKE FOREST II RESIDENTIAL CORPORATION, a Kentucky corporation (“NTS/Lake Forest II”; NTS/Virginia and NTS/Lake Forest II are sometimes hereinafter collectively referred to as the “Borrowers”) granted to THE PROVIDENT BANK (“Bank”) a First Amended and Restated Revolving Promissory Note Construction Mortgage Loan in the maximum amount of available credit of Eighteen Million and 00/100 Dollars ($18,000,000.00) dated October 31, 2000 (“Revolving Note”), which Revolving Note consolidated two (2) prior Notes, the first in the original principal amount of $10,700,000 dated December 30, 1997 between Borrowers and Bank, and that certain Revolving Promissory Amended and Restated Note dated January 6, 1998, made by NTS/Lake Forest II payable to the order of Bank of Louisville in the original principal amount of $8,000,000, which Amended and Restated Note has been assigned and endorsed over to Bank; and
