UNCONDITIONAL AND CONTINUING GUARANTYUnconditional and Continuing Guaranty • August 25th, 2009 • NTS Mortgage Income Fund • Real estate investment trusts • Ohio
THIS UNCONDITIONAL AND CONTINUING GUARANTY (the “Guaranty”) is made this 18th day of August, 2009, by NTS GUARANTY CORPORATION,a Kentucky corporation, whose address for all purposes relevant to this Guaranty is 10172 Linn Station Road, Louisville, Kentucky 40223 (“Guarantor”) in favor of NATIONAL CITY BANK, a national banking association having an address at One East Fourth Street, Cincinnati, Ohio 45202 (the “Bank”).
DEVELOPMENT LOAN DISBURSING AGREEMENTDevelopment Loan Disbursing Agreement • August 25th, 2009 • NTS Mortgage Income Fund • Real estate investment trusts
Re: $1,385,544.00 Development Loan to NTS/VIRGINIA DEVELOPMENT COMPANY, a Virginia corporation and NTS/LAKE FOREST II RESIDENTIAL CORPORATION, a Kentucky corporation for the Development of Eighteen (18) Single Family Residential Lots in Section 21A of the Fawn Lake Community, Spotsylvania County, Virginia
SEVENTH MORTGAGE LOAN MODIFICATION AGREEMENTSeventh Mortgage Loan Modification Agreement • August 25th, 2009 • NTS Mortgage Income Fund • Real estate investment trusts
THIS SEVENTH MORTGAGE LOAN MODIFICATION AGREEMENT (the “Agreement”) is entered into as of the 18th day of August, 2009 by and among NATIONAL CITY BANK, a national banking association, successor by merger with The Provident Bank, 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 (“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 general partnership “Orlando Lake Forest”), NTS MORTGAGE INCOME FUND, a Delaware corporation and NTS GUARANTY CORPORATION, a Kentucky corporation (collectively, the “Guarantors”).
PROMISSORY NOTEPromissory Note • August 25th, 2009 • NTS Mortgage Income Fund • Real estate investment trusts
FOR VALUE RECEIVED, the undersigned, NTS/VIRGINIA DEVELOPMENT COMPANY, a Virginia corporation (“NTS Virginia”) and NTS/LAKE FOREST II RESIDENTIAL CORPORATION, a Kentucky corporation (collectively, the “Borrowers”), hereby unconditionally promise to pay to the order of NATIONAL CITY BANK, a national banking association (the “Bank”), as payee, having an office at One East Fourth Street, Cincinnati, Ohio 45202 or at such other place as the holder hereof may from time to time designate in writing, the principal sum of ONE MILLION THREE HUNDRED EIGHTY-FIVE THOUSAND FIVE HUNDRED FORTY-FOUR AND 00/100 DOLLARS ($1,385,544.00) or so much as is actually drawn by Borrowers hereunder in lawful money of the United States of America with interest thereon at the Libor Loan Rate in accordance with the terms of this Note.
UNCONDITIONAL AND CONTINUING GUARANTYUnconditional and Continuing Guaranty • August 25th, 2009 • NTS Mortgage Income Fund • Real estate investment trusts • Ohio
THIS UNCONDITIONAL AND CONTINUING GUARANTY (the “Guaranty”) is made this 18th day of August, 2009, by J.D. NICHOLS and NTS MORTGAGE INCOME FUND, a Delaware corporation, whose address for all purposes relevant to this Guaranty is 10172 Linn Station Road, Louisville, Kentucky 40223 (the “Guarantors”) in favor of NATIONAL CITY BANK, a national banking association having an address at One East Fourth Street, Cincinnati, Ohio 45202 (the “Bank”).
SEVENTH AMENDED AND RESTATED PROMISSORY NOTE CONSTRUCTION MORTGAGE LOANPromissory Note • August 25th, 2009 • NTS Mortgage Income Fund • 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 NATIONAL CITY BANK, as successor by merger 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 had b
