0001104659-07-003990 Sample Contracts

AMENDMENT NO. 1 TO RIGHTS AGREEMENT
Rights Agreement • January 23rd, 2007 • Affordable Residential Communities Inc • Real estate investment trusts • Maryland

This AMENDMENT NO. 1 TO RIGHTS AGREEMENT (this “Amendment”) is entered into as of January 23, 2007, by and between Affordable Residential Communities Inc., a Maryland corporation (the “Company”), and American Stock Transfer & Trust Company, a New York corporation (the “Rights Agent”).

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