AMENDED AND RESTATED SUBORDINATED DEFICIENCY NOTEComstock Homebuilding Companies, Inc. • March 31st, 2010 • Operative builders
FOR VALUE RECEIVED, the undersigned, COMSTOCK HOMEBUILDING COMPANIES, INC., a Delaware corporation (the “Borrower”), promises to pay to the order of WACHOVIA BANK, NATIONAL ASSOCIATION, a national banking association (the “Noteholder” or “Wachovia”), the sum of Two Hundred and Five Thousand, Four Hundred Eighty-Eight and 23/100 Dollars ($205,488.23) (the “Subordinated Deficiency Note”), or so much thereof as shall remain unpaid; this Note being non-interest bearing provided that Borrower is not in default of its obligations hereunder. This Subordinated Deficiency Note is issued pursuant to that certain Consensual Foreclosure and Settlement Agreement dated August 17, 2009 (the “Agreement”), and shall restate in full and supersede that certain Subordinated Deficiency Note dated August 17, 2009 in the original principal amount of $1,805,243.00. Borrower hereby agrees to pay Noteholder in full on the Maturity Date (as defined herein). As consideration for the entry into this Subordinated D
SEVENTH LOAN MODIFICATION AGREEMENTSeventh Loan Modification Agreement • March 31st, 2010 • Comstock Homebuilding Companies, Inc. • Operative builders • Virginia
THIS SEVENTH LOAN MODIFICATION AGREEMENT (this “Agreement” or this “Modification”) is made effective as of the _____ day of February, 2010 (the “Effective Date”), by and among: COMSTOCK HOMEBUILDING COMPANIES, INC., a Delaware corporation (the “Borrower,” whether one or more) and BANK OF AMERICA, N.A., a national banking association, its successors and assigns (the “Lender”).
AGREEMENT OF SUBLEASEAgreement of Sublease • March 31st, 2010 • Comstock Homebuilding Companies, Inc. • Operative builders
THIS AGREEMENT OF SUBLEASE (“Sublease”) is made as of the 31st day of December, 2009 by and between Comstock Asset Management, L.C. (“Sublandlord”) and Comstock Property Management, L.C., a Virginia limited liability company (“Subtenant”).
FOURTH AMENDMENT TO SUBLEASE AGREEMENTSublease Agreement • March 31st, 2010 • Comstock Homebuilding Companies, Inc. • Operative builders • Virginia
THIS FOURTH AMENDMENT TO SUBLEASE AGREEMENT (this “Fourth Amendment”) is made and entered into this day of February, 2009, by and between COMSTOCK ASSET MANAGEMENT, L.C., a Virginia limited liability company (hereinafter referred to as “Sublandlord”); and COMSTOCK HOMES OF WASHINGTON, L.C., a Virginia limited liability company (hereinafter referred to as “Subtenant”).
NORTH CAROLINASettlement Agreement • March 31st, 2010 • Comstock Homebuilding Companies, Inc. • Operative builders • North Carolina
This MUTUAL RELEASE AND SETTLEMENT AGREEMENT (“Agreement”) is made by and between COMSTOCK HOMES OF RALEIGH, LLC, a North Carolina limited liability company (“Plaintiff”), PROVIDENCE DEVELOPMENT OF RALEIGH, LLC, a North limited liability company (“Defendant”) and MANNING FULTON & SKINNER, PA, a North Carolina professional association (“Escrow Agent”). The parties to this Agreement other than Escrow Agent may be collectively referred to herein as “the parties.”
Builder’s Co-Pilot Software License AgreementSoftware License Agreement • March 31st, 2010 • Comstock Homebuilding Companies, Inc. • Operative builders • Virginia
This License Agreement dated January 1, 2010 governs the use by Comstock Homebuilding Companies, Inc. (hereafter “Licensee”), 11465 Sunset Hills Road #500 Reston VA 20190 (Phone: 703- 883-1700) of the Builder’s Co-Pilot software and system which is owned and licensed by I-Connect, L.C., with a principal place of business at 11465 Sunset Hills Road, Suite 400, Reston, Virginia 20190 (hereafter “ICG”). Subject to the timely payment by Licensee of the fees and charges set forth on the attached “Schedule of Fees and Usage Rights,” Licensee shall have the following rights:
Borrower: Comstock Homebuilding Companies, Inc. Noteholder/Lender: Stonehenge Funding, LC. (Lender or Noteholder). Guarantors: In consideration of Stonehenge entering into this agreement and modifying the terms of the JP Morgan Note, CHCI hereby...Subordination and Standstill Agreement • March 31st, 2010 • Comstock Homebuilding Companies, Inc. • Operative builders • Virginia
THIS SUBORDINATION AND STANDSTILL AGREEMENT (this “Agreement”) is made this _______ day of December, 2009, by and among COMSTOCK HOMEBUILDING COMPANIES, INC., a Delaware corporation (“Guarantor”), KEYBANK NATIONAL ASSOCIATION, a national banking association (“KeyBank”), individually and as agent for itself and the Senior Lenders (as hereinafter defined) (“Agent”), and STONEHENGE FUNDING, LC, a Virginia limited liability company (“Subordinate Lender”).
PURCHASE AGREEMENTPurchase Agreement • March 31st, 2010 • Comstock Homebuilding Companies, Inc. • Operative builders • Virginia
THIS PURCHASE AGREEMENT, entered into this day of , 2009 (the “Effective Date”) between COMSTOCK STATION VIEW LC, a Virginia limited liability company, hereinafter known as “Seller,” and M/I HOMES OF DC, LLC, a Delaware limited liability company, hereinafter known as “Purchaser.”
FORBEARANCE AGREEMENT AND SECOND AMENDMENT OF LOAN AGREEMENTLoan Agreement • March 31st, 2010 • Comstock Homebuilding Companies, Inc. • Operative builders • Virginia
THIS CAUSE came before this Court upon the joint representations of counsel for Plaintiffs Comstock Penderbrook, L.C. and Comstock Homebuilding Companies, Inc. (“Plaintiffs”) and counsel for Defendant Guggenheim Corporate Funding, LLC, (“Defendant”) that the matters at issue between them as expressed in Plaintiff’s Complaint filed in this case have been compromised, agreed and settled.
