FIRST AMENDMENT TO FORBEARANCE AGREEMENTForbearance Agreement • July 18th, 2007 • American Leisure Holdings, Inc. • Real estate • New York
This First Amendment to Forbearance Agreement (this “Amendment”) is made as of this __ day of July, 2007, by and among LASALLE BANK NATIONAL ASSOCIATION, AS TRUSTEE OF MARATHON REAL ESTATE CDO 2006-1 GRANTOR TRUST, successor-in-interest to Marathon Structured Finance Fund, L.P., a Delaware limited partnership (the “Lender”). SOUTH BEACH RESORTS, LLC, a Florida limited liability company (the “Borrower”), FRED PAUZAR, an individual resident of the State of Florida (“Pauzar”), and MALCOLM WRIGHT, an individual resident of the State of Florida (“Wright”, and together with Pauzar, the “Principals”, and the Principals, together with Borrower, the “Borrowing Parties”).
