PROMISSORY NOTE MODIFICATION AGREEMENTPromissory Note Modification Agreement • November 26th, 2008 • NTS Mortgage Income Fund • Real estate investment trusts • Ohio
This Promissory Note Modification Agreement (“Agreement”) is entered into this 21st day of November, 2008 (the “Effective Date”), by and between NATIONAL CITY BANK, a national banking association (successor by merger with The Provident Bank) (the “Lender”), having an office at One East Fourth Street, Cincinnati, Ohio 45202, 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”), ORLANDO LAKE FOREST JOINT VENTURE, a Florida joint venture “Orlando Lake Forest”), NTS MORTGAGE INCOME FUND, a Delaware corporation (“MIF”), and NTS GUARANTY CORPORATION, a Kentucky corporation (“Guaranty Corp.”; MIF and Guaranty Corp. are sometimes hereinafter collectively referred to as the “Guarantors”).
