Execution Version
 
SECOND AMENDMENT TO FORBEARANCE AGREEMENT
 
This SECOND AMENDMENT TO FORBEARANCE AGREEMENT (this “Amendment”) is dated and
effective as of October 15, 2009, by and among PARKING COMPANY OF AMERICA
AIRPORTS, LLC (“PCAA”), PARKING COMPANY OF AMERICA AIRPORTS PHOENIX, LLC (“PCAA
Phoenix”), PCAA SP, LLC (“PCAA SP”), and PCA AIRPORTS, LTD. (“PCAA Texas” and,
together with PCAA, PCAA Phoenix, and PCAA SP, individually and collectively as
the context requires, the “Borrowers”), PCAA PARENT, LLC, a Delaware limited
liability company (the “Guarantor”), DEKABANK DEUTSCHE GIROZENTRALE, in its
capacity as holder of Note A-1 (“Deka”), DEUTSCHE HYPOTHEKENBANK AG, in its
capacity as holder of Note A-2 (“Hypo”), and ING REAL ESTATE FINANCE (USA) LLC,
in its capacity as holder of Note A-3 (“ING” and together with Deka and Hypo,
the “Note A Co-Lenders”), CAPMARK FINANCE, INC., in its capacity as holder of
Note B-1 (“CFI”), CAPMARK STRUCTURED REAL ESTATE, LTD., in its capacity as
holder of Note B-2 (“CSRE” and together with CFI, the “Note B Co-Lenders”) (the
Note A Co-Lenders and the Note B Co-Lenders collectively, the “Lenders”), ING
REAL ESTATE FINANCE (USA) LLC, in its capacity as agent for the Note A
Co-Lenders (the “Note A Agent”) and in its capacity as administrative agent (the
“Administrative Agent”) and CAPMARK FINANCE, INC., in its capacity as agent for
the Note B Co-Lenders (“Note B Agent” and together with the Note A Agent and the
Administrative Agent, the “Agents”).
 
RECITALS
 
WHEREAS, the parties hereto are parties to that certain Forbearance Agreement
dated as of June 10, 2009 (the “Forbearance Agreement”) as amended August 30,
2009 by the First Amendment thereto (the “First Amendment”); and
 
WHEREAS, the parties hereto desire to amend the Forbearance Agreement in certain
respects as provided herein;
 
NOW, THEREFORE, in consideration of the foregoing and other good and valuable
consideration, the receipt and sufficiency of which are hereby acknowledged, the
parties hereto hereby agree as follows:
 
SECTION 1. Defined Terms. Capitalized terms used but not defined herein shall
have the meanings assigned to them in the Forbearance Agreement, as amended by
this Amendment and the First Amendment.
 
SECTION 2. Amendment to Forbearance Agreement. The definition of “Expiration
Date” in Section 1.1 of the Forbearance Agreement, as amended by Section 2.2 of
the First Amendment, is hereby deleted in its entirety and replaced with the
following:
 
“’Expiration Date’ shall mean November 6, 2009.”
 
SECTION 3. Representations and Warranties. As of the date first written above,
all representations and warranties of each of Borrowers and the Guarantor
contained in the Forbearance Agreement, as amended hereby, are true and correct
in all material respects and each such party hereby confirms as to itself each
such representation and warranty made by it or him with the same effect as if
set forth in full herein.

 

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SECTION 4. No Modification. No provision of this Amendment may be modified,
amended, waived or extended except by an agreement in writing signed by all of
the parties hereto.
 
SECTION 5. Counterparts. This Amendment may be executed by the parties hereto in
any number of separate counterparts, and all of said counterparts taken together
shall be deemed to constitute one and the same instrument.
 
SECTION 6. Successors and Assigns. This Amendment shall be binding upon and
shall inure to the benefit of the parties hereto and their respective successors
and assigns.
 
SECTION 7. GOVERNING LAW. THIS AMENDMENT AND THE RIGHTS AND OBLIGATIONS OF THE
PARTIES UNDER THIS AMENDMENT SHALL, IN ALL RESPECTS, BE GOVERNED BY, AND
CONSTRUED AND INTERPRETED IN ACCORDANCE WITH, THE LAW OF THE STATE OF NEW YORK,
INCLUDING SECTION 5-1401 AND SECTION 5-1402 OF THE NEW YORK GENERAL OBLIGATIONS
LAW, BUT EXCLUDING, TO THE MAXIMUM EXTENT PERMITTED BY APPLICABLE LAW, ALL OTHER
CONFLICTS OF LAWS PRINCIPLES AND CHOICE OF LAW RULES OF THE STATE OF NEW YORK.
 
SECTION 8. Miscellaneous. Upon the effectiveness of this amendment, each
reference in the Forbearance Agreement to “this Agreement”, “hereunder”,
“hereof, “herein”, or words of like import shall mean and be a reference to the
Forbearance Agreement as amended hereby and by the First Amendment, and each
reference to the Forbearance Agreement in any other document, instrument or
agreement executed and/or delivered in connection with the Forbearance Agreement
shall mean and be a reference to the Forbearance Agreement as amended hereby and
by the First Amendment. Except as specifically amended above and by the First
Amendment, the Forbearance Agreement and all other documents, instruments and
agreements executed and/or delivered in connection therewith shall remain in
full force and effect and are hereby ratified and confirmed.
 
SECTION 9. Release. The Borrower and the Guarantor hereby release, waive, and
forever relinquish all claims, demands, obligations, liabilities and causes of
action of whatever kind or nature, whether known or unknown, which any of them
have, may have, or might assert at the time of execution of this Amendment or in
the future against the Agent, the Lenders and/or their respective parents,
affiliates, participants, officers, directors, employees, agents, attorneys,
accountants, consultants, successors and assigns, directly or indirectly, which
occurred, existed, was taken, permitted or begun prior to the execution of this
Amendment, arising out of, based upon, or in any manner connected with (i) any
transaction, event, circumstance, action, failure to act or occurrence of any
sort or type, whether known or unknown, with respect to the Loan Agreement, any
other Loan Document and/or the administration thereof or the Obligations created
thereby; (ii) any discussions, commitments, negotiations, conversations or
communications with respect to the refinancing, restructuring or collection of
any Obligations related to the Loan Agreement, any other Loan Document and/or
the administration thereof or the Obligations created thereby or (iii) any
matter related to the foregoing, in each case, prior to the execution of this
Amendment.
 
[Signature pages attached]

 
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IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be duly
executed and delivered by their proper and duly authorized officers as of the
date first above written.
 
borrowers:

parking company of america
 
parking company of america
airports, LLC, a Delaware limited liability
 
airports phoenix, LLC, a Delaware limited
company
 
liability company
     
By: PCAA Parent, LLC, a Delaware limited
 
By: PCAA Parent, LLC, a Delaware limited
liability company, its sole member
 
liability company, its sole member

 
By:
/s/ Charles Huntzinger    
By:
/s/ Charles Huntzinger      
Name: Charles Huntzinger
   
Name: Charles Huntzinger
   
Title: Chief Executive Officer
   
Title: Chief Executive Officer

State Identification Number: 3561583
 
State Identification Number: 3561638
Tax Identification Number: 55-0799249
 
Tax Identification Number: 73-1678343

pcaa sp, LLC, a Delaware limited liability
 
pca airports, ltd, a Texas limited
company
 
partnership
     
By: PCAA Parent, LLC, a Delaware limited
 
By: PCAA GP, LLC, a Delaware limited liability
liability company, its sole member
 
company, its general partner

     
By: PCAA Parent, LLC, a Delaware limited
 
By:
/s/ Charles Huntzinger  
liability company, its sole member
   
Name: Charles Huntzinger
       
Title: Chief Executive Officer
 

   
By:
/s/ Charles Huntzinger  
State Identification Number: 4005464
   
Name: Charles Huntzinger
Tax Identification Number: 20-3223465
   
Title: Chief Executive Officer

   
State Identification Number: 800143785
   
Tax Identification Number: 73-167348

 
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GUARANTOR:

 
PCAA PARENT, LLC,  a Delaware limited liability company
     
By: 
/s/ Charles Huntzinger      
Name: Charles Huntzinger
   
Title: Chief Executive Officer

 
S-2

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NOTE A AGENT AND LENDER:
     
ING REAL ESTATE FINANCE (USA) LLC
       
By:
/s/ Maria D. Kastanis       
Name: MARIA D. KASTANIS
   
Title:   SENIOR DIRECTOR
       
By:
/s/ Yelena Kharnas      
Name: YELENA KHARNAS
   
Title:   VICE PRESIDENT

 
S-3

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NOTE A LENDERS:
 
DEUTSCHE HYPOTHEKENBANK AG
 
By: 
/s/ Dirk Wilke
 
Name: Dirk Wilke
 
Title: authorized officer
 
By: 
/s/ Frank Müller
 
Name: Frank Müller
 
Title: authorized officer
 
DEKABANK DEUTSCHE GIROZENTRALE
   
By:
   
Name:
 
Title:
 
By: 
   
Name:
 
Title:

 
S-4

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NOTE A LENDERS:
 
DEUTSCHE HYPOTHEKENBANK AG
 
By: 
   
Name:
 
Title:
 
By: 
   
Name: 
 
Title: 
 
DEKABANK DEUTSCHE GIROZENTRALE
   
By:
/s/ Burkhard Mau
 
Name: Burkhard Mau
 
Title: Executive Director
 
By: 
/s/ Krowsbein
 
Name: KROWSBEIN
 
Title: SENIOR ASSOCIATE

 
S-4

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NOTE B AGENT AND LENDERS:
 
CAPMARK FINANCE INC.
 
By:
/s/ David Blum
 
Name:  David Blum
 
Title:  Vice President
 
CAPMARK STRUCTURED REAL ESTATE, LTD.
   
By: 
/s/ David Blum
 
Name:  David Blum
 
Title:  Vice President

 
S-5

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