**Exhibit      10.48**

**AMENDMENT      NO. 1 TO**

**LOAN      AND SECURITY AGREEMENT**

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*Signature      Pages Follow*

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|   | BORROWER:                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |
|--------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |
|   | HINES NURSERIES, INC.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |
|   | By:   /s/              Claudia              Pieropan                                                                                                                                                                       |
|   | Title:  CFO                                                                                                                      |
|   | Name:  Claudia              Pieropan                                                                                                                                                                                                                     |
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |
|   | PARENT:                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |
|   | HINES HORTICULTURE, INC.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |
|   | By:   /s/              Claudia              Pieropan                                                                                                                                                             |
|   | Title:  CFO                                                                                                            |
|   | Name:  Claudia              Pieropan                                                                                                                                                                                                           |
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |
|   | AGENT                AND LENDERS:                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |
|   | BANK                OF AMERICA, N.A., as Agent and a Lender                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |
|   | By:   /s/ Jason              Riley                                                                                                                        |
|   | Title:  VP                                                                                              |
|   | Name:                 Jason                Riley                                                                                                                                                       |

**Signature      Page to Amendment No. 1 to  **

**Loan      and Security Agreement] **

**S-1**