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Exhibit 10.5
 
AMENDMENT NO. 4 TO THE
CREDIT AGREEMENT
 
 
Dated as of December 1, 2017

AMENDMENT NO. 4 TO THE CREDIT AGREEMENT (the “Amendment”) among GREEN BRICK
PARTNERS, INC., a Delaware corporation (the “Company”), the banks, financial
institutions and other institutional lenders parties to the Credit Agreement
referred to below (collectively, the “Lenders”) and FLAGSTAR BANK, FSB, as agent
(the “Agent”) for the Lenders.
 
PRELIMINARY STATEMENTS:
 
(1)          The Company, the Lenders and the Agent have entered into a Credit
Agreement dated as of December 15, 2015 (as amended by the First Amendment
thereto dated as of August 31, 2016, the Second Amendment thereto dated as of
December 1, 2016 and the Third Amendment thereto dated as of September 1, 2017,
the “Credit Agreement”).  Capitalized terms not otherwise defined in this
Amendment have the same meanings as specified in the Credit Agreement.
 
(2)          Pursuant to Section 2.22 of the Credit Agreement, the Company has
requested that the Termination Date be extended from December 14, 2019 to
December 14, 2020.
 
SECTION 1.          Consent to Extension Request.  Pursuant to Section 2.22 of
the Credit Agreement, each Lender so indicating on its signature page to this
Amendment (each such Lender, a “Consenting Lender”) agrees to extend the
Termination Date with respect to its Commitment(s) for a period of one year, to
December 14, 2020.  This agreement to extend the Termination Date is subject in
all respects to the terms of the Credit Agreement.  For the avoidance of doubt,
upon satisfaction of the applicable conditions set forth in Section 2.22(e) and
(f) of the Credit Agreement and the payment of fees pursuant to Section 2 of
this Amendment, the extension of the Termination Date of each Consenting Lender
shall be effective on December 15, 2017.
 
SECTION 2.          Fees.  The Borrower agrees to pay to each Consenting Lender
an upfront fee of 0.15% of the aggregate amount of such Consenting Lender’s
extended commitments, which fee shall be due and payable on December 15, 2017
prior to the effectiveness of the extension of the Termination Date.
 
SECTION 3.          Conditions of Effectiveness.  This Amendment shall become
effective as of the date first above written when, and only when, the Agent
shall have received counterparts of this Amendment executed by the Company and
the Required Lenders.

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SECTION 4.          Representations and Warranties of the Company.  The Company
represents and warrants that (i) the representations and warranties contained in
Article IV of the Credit Agreement are true and correct in all material respects
(other than representations and warranties qualified by materiality or Material
Adverse Effect, which representations and warranties are true and correct in all
respects) on and as of the date hereof, before and after giving effect to this
Amendment, as though made on and as of the date hereof, and (ii) no Default has
occurred and is continuing, or would result from this Amendment.
 
SECTION 5.          Reference to and Effect on the Credit Agreement.  (a)  On
and after the effectiveness of this Amendment, each reference in the Credit
Agreement to “this Agreement”, “hereunder”, “hereof” or words of like import
referring to the Credit Agreement, shall mean and be a reference to the Credit
Agreement, as amended by this Amendment.
 
(b)          The Credit Agreement, as specifically amended by this Amendment, is
and shall continue to be in full force and effect and is hereby in all respects
ratified and confirmed.
 
(c)          The execution, delivery and effectiveness of this Amendment shall
not, except as expressly provided herein, operate as a waiver of any right,
power or remedy of any Lender or the Agent under the Credit Agreement, nor
constitute a waiver of any provision of the Credit Agreement.
 
(d)          This Amendment is subject to the provisions of Section 9.01 of the
Credit Agreement.
 
SECTION 6.          Costs and Expenses.  The Company agrees to pay on demand all
costs and expenses of the Agent in connection with the preparation, execution,
delivery and administration, modification and amendment of this Amendment
(including, without limitation, the reasonable fees and expenses of counsel for
the Agent) in accordance with the terms of Section 9.04 of the Credit Agreement.
 
SECTION 7.          Acknowledgement.  Execution of this Amendment by a Lender
and by the Company constitute the acknowledgment of the notice to such Lender
and the Company, respectively, of the matters contemplated by Section 2.22(b)
and (c), respectively, of the Credit Agreement.
 
SECTION 8.          Execution in Counterparts.  This Amendment may be executed
in any number of counterparts and by different parties hereto in separate
counterparts, each of which when so executed shall be deemed to be an original
and all of which taken together shall constitute but one and the same
agreement.  Delivery of an executed counterpart of a signature page to this
Amendment by telecopier shall be effective as delivery of a manually executed
counterpart of this Amendment.
 
SECTION 9.          Governing Law.  This Amendment shall be governed by, and
construed in accordance with, the law of the State of New York.

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IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be executed
by their respective officers thereunto duly authorized, as of the date first
above written.

 
GREEN BRICK PARTNERS, INC.
     
By:
/s/ Richard A. Costello
 
Name:
Richard A. Costello
 
Title:
Chief Financial Officer

[Signature Page to Amendment No. 4]

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FLAGSTAR BANK, FSB, as Agent
     
By:
/s/ Jerry C. Schillaci
 
Name:
Jerry C. Schillaci
 
Title:
Vice President

[Signature Page to Amendment No. 4]

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SIGNATURE PAGE

 
CONSENT to extension of Termination Date:
 
Name of Lender: CITIBANK, N.A.

by
       
/s/ John C. Rowland
   
Name:
 John C. Rowland
   
Title:
  Vice President
 

[Signature Page to Amendment No. 4]

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SIGNATURE PAGE
 
CONSENT to extension of Termination Date:

Name of Lender: CREDIT SUISSE AG, CAYMAN ISLANDS BRANCH
 
by
       
/s/ William O’Daly
   
Name:
 William O’Daly
   
Title:
 Authorized Signatory
 

by
       
/s/ Brady Bingham
   
Name:
 Brady Bingham
   
Title:
 Authorized Signatory
 

[Signature Page to Amendment No. 4]

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