0001193125-12-235280 Sample Contracts

ADDENDUM NO. 1 TO FIRST PREFERRED MORTGAGE
First Preferred Mortgage • May 16th, 2012 • Freeseas Inc. • Deep sea foreign transportation of freight

THIS ADDENDUM NO.1 TO FIRST PREFERRED MORTGAGE (this “Amendment”) is made this 18th day of July 2012 between ADVENTURE FIVE S.A., a corporation organized and existing under the laws of the Marshall Islands, having its registered address at Trust Company Complex, Ajeltake Road, Ajeltake Island, Majuro, Marshall Islands MH 96960, and registered as a Foreign Maritime Entity in the Republic of Liberia (the “Owner”), and CREDIT SUISSE AG (formerly known as CREDIT SUISSE) of Paradeplatz 8, 8070 Zurich, Switzerland, acting for the purposes of this Amendment through its branch at St. Alban-Graben 1-3, 4002 Basel, Switzerland (the “Mortgagee”), and is supplemental to a First Preferred Mortgage dated 21 December 2009 made by the Owner in favor of the Mortgagee on the Liberian registered motor vessel FREE GODDESS (the “Vessel”), Official No. 14519, of 13,695 tons gross and 7,710 tons net register, and which Mortgage was recorded in the indexes maintained by the Deputy Commissioner of Maritime Aff

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SUPPLEMENTAL AGREEMENT
Supplemental Agreement • May 16th, 2012 • Freeseas Inc. • Deep sea foreign transportation of freight

WHEREAS this Agreement is supplemental to an Amended and Restated Services Agreement dated October 1st 2008 (“the Principal Agreement”) entered into between the Manager and the Company.

ADDENDUM NO. 2 TO FIRST PREFERRED MORTGAGE
First Preferred Mortgage • May 16th, 2012 • Freeseas Inc. • Deep sea foreign transportation of freight

THIS ADDENDUM NO.2 TO FIRST PREFERRED MORTGAGE (this “Amendment”) is made this 18th day of July 2011 between ADVENTURE TEN S.A., a corporation organized and existing under the laws of the Marshall Islands, having its registered address at Trust Company Complex, Ajeltake Road, Ajeltake Island, Majuro, Marshall Islands MH 96960, and registered as a Foreign Maritime Entity in the Republic of Liberia (the “Owner”), and CREDIT SUISSE AG (formerly known as CREDIT SUISSE) of Paradeplatz 8, 8070 Zurich, Switzerland, acting for the purposes of this Amendment through its branch at St. Alban-Graben 1-3, 4002 Basel, Switzerland (the “Mortgagee”), and is supplemental to a First Preferred Mortgage dated 7 July 2008 made by the Owner in favor of the Mortgagee on the Liberian registered motor vessel FREE LADY (the “Vessel”), Official No. 13955, of 27,986 tons gross and 17,077 tons net register, and which Mortgage was recorded in the indexes maintained by the Deputy Commissioner of Maritime Affairs of

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