First Preferred Naval Mortgage Sample Contracts

DATED.......SEPTEMBER 2006 ADVENTURE FOUR S.A. - and - FBB — FIRST BUSINESS BANK S.A. FIRST PREFERRED NAVAL MORTGAGE on the MOTOR VESSEL “FREE FIGHTER” SARANTITIS LAW FIRM 91 AKTI MIAOULI GR 185 38 PIRAEUS GREECE
First Preferred Naval Mortgage • May 17th, 2007 • FreeSeas Inc. • Deep sea foreign transportation of freight

The Loan Agreement is located as of this date, at the offices of the Mortgagee at 62 Notara and Sotiros Dios Streets, Piraeus, Greece by agreement of both parties and same is hereby incorporated to the mortgage deed in order that said lien will secure every and all obligations derived thereon.

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