Exhibit 99.5 FIRST MODIFICATION TO LOAN AGREEMENT AND OPERATING AGREEMENT FIRST MODIFICATION TO LOAN AGREEMENT AND OPERATING AGREEMENT (this "Modification") dated as of the 27 day of February, 2009 by and between PRESIDENTIAL REALTY CORPORATION, a...Loan Agreement and Operating Agreement • March 3rd, 2009 • Presidential Realty Corp/De/ • Real estate investment trusts • New York
