0000885508-03-000009 Sample Contracts

LOAN AGREEMENT (Revolving Credit)
Loan Agreement • November 14th, 2003 • Stratus Properties Inc • Land subdividers & developers (no cemeteries) • Texas

This LOAN AGREEMENT (Revolving Credit) ("Agreement") is executed effective as of September 22, 2003, by and between CALERA COURT, L.P., a Texas limited partnership ("Borrower"), whose address is 98 San Jacinto Boulevard, Suite 220, Austin, Texas 78701-4281, and COMERICA BANK, a Michigan banking corporation ("Lender"), whose address is 1601 Elm Street, 2nd Floor, Dallas, Texas 75201, Attn: Real Estate Department.

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THIRD MODIFICATION AND EXTENSION AGREEMENT
Modification and Extension Agreement • November 14th, 2003 • Stratus Properties Inc • Land subdividers & developers (no cemeteries) • Texas

This THIRD MODIFICATION AND EXTENSION AGREEMENT ("Agreement") is executed on July 15, 2003 but to be effective as of June 30, 2003 (the "Modification Date"), by and between COMERICA BANK, a Michigan banking corporation, successor by merger to Comerica Bank-Texas ("Lender"), and STRATUS PROPERTIES INC., a Delaware corporation, STRATUS PROPERTIES OPERATING CO., L.P., a Delaware limited partnership, CIRCLE C LAND CORP., a Texas corporation, and AUSTIN 290 PROPERTIES, INC., a Texas corporation (herein individually and collectively referred to as "Borrower").

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