**Exhibit 10.7.6**

**FOURTH AMENDMENT TO**

**LETTER OF CREDIT**

**FACILITY AGREEMENTS**

THIS FOURTH AMENDMENT TO LETTER OF CREDIT FACILITYAGREEMENTS (this “Amendment”) made as of the 1st day of March, 2006, among MMA CONSTRUCTIONFINANCE, LLC, a Maryland limited liability company (“MMCF”), MMA MORTGAGE INVESTMENT CORPORATION, a Florida corporation (“MMI”) (MMCF and MMI are collectively referred to herein as the “Companies”)and BANK OF AMERICA, N.A. (the “Bank”). 

**WITNESSETH**

WHEREAS, MMCF and MMI each entered into a Letter of Credit Facility Agreement dated October 18, 2002 with the Bank (as amended, individually the“MMCF Facility Agreement” and the “MMI Facility Agreement,” and collectively the “Facility Agreements”); and 

WHEREAS, the Companies have requested that the Bank make certain amendments to the Facility Agreements, and the Bank is willing to do so subject to the terms and conditions set forth herein; 

NOW, THEREFORE, in consideration of the premises herein contained and other good and valuable consideration, the sufficiency of which is herebyacknowledged, the parties hereto, intending to be legally bound, agree as follows: 

**1. Defined Terms**. All capitalized termsused but not otherwise defined in this Amendment shall have the meaning ascribed to them in the Facility Agreements. Unless otherwise specified, all section references herein refer to sections of the Facility Agreements. 

**2. Amendments to the MMCF Facility Agreement**. 

1.0 **Availability Date**. The definition of “Availability Date” is revised to read as follows: 

“‘Availability Date’ means September 18, 2006 or, if the Availability Date is extended pursuant to Section 2.11, the Availability Date as so extended.” 

2.0 **Construction Loan Facility Amount**. The definition of “Construction Loan Facility Amount” is amended tosubstitute “$75,000,000” for “$100,000,000.” 

**3. Amendments to the MMI Facility Agreement.**

1.0 **Availability Date**. The definition of “Availability Date” is revised to read as follows: 

“‘Availability Date’ means September 18, 2006 or, if the Availability Date is extended pursuant toSection 2.11, the Availability Date as so extended.” 

2.0 **Bond Enhancement Facility Amount**.The definition of “Bond Enhancement Facility Amount” is amended to substitute “$75,000,000” for “$100,000,000.” 

**4. Effectiveness of Amendment.**This Amendment shall be effective upon receipt by the Bank of (a) an executed copy of this Amendment; and (b) an administration fee of $12,500. 

**5. Ratifications, Representations and Warranties**. 

(a) The terms and provisions set forth in this Amendment shall modify and supersede all inconsistent terms and provisions set forth in theFacility Agreements and, except as expressly modified and superseded by this Amendment, the terms and provisions of the Facility Agreements are ratified and confirmed and shall continue in full force and effect. MMCF, MMI and the Bank agree that theFacility Agreements, as amended hereby, shall continue to be legal, valid, binding and enforceable in accordance with their respective terms. 

(b) To induce the Bank to enter into this Amendment, MMCF and MMI ratify and confirm each representation and warranty set forth in the Facility Agreements as if such representations and warranties were made on theeven date herewith, and further represent and warrant (i) that there has not occurred since the date of the last financial statements delivered to the Bank any event or circumstance that has resulted or could reasonably be expected to result ina Material Adverse Effect, (ii) that no Event of Default exists on the date hereof, and (iii) that MMCF and MMI are each fully authorized to enter into this Amendment. 

**6. Benefits**. This Amendment shall be binding upon and inure to the benefit of MMCF, MMI and the Bank, and their respective successors andassigns; provided, however, that MMCF and MMI may not, without the prior written consent of the Bank, assign any rights, powers, duties or obligations under this Amendment, or the Facility Agreements. 

**7. Construction**. This Amendment shall be governed by and construed in accordance with the laws of the State of New York. 

**8. Invalid Provisions**. If any provision of this Amendment is held to be illegal, invalid or unenforceable under present or future laws,such provision shall be fully severable and the remaining provisions of this Amendment shall remain in full force and effect and shall not be affected by the illegal, invalid or unenforceable provision or by its severance. 

 

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**9. Entire Agreement**. The Facility Agreements, as amended by this Amendment, contain theentire agreement among the parties regarding the subject matter hereof and supersedes all prior written and oral agreements and understandings among the parties hereto regarding same. 

**10. Reference to Facility Agreement**. The Facility Agreements and any and all other agreements, documents or instruments now or hereafterexecuted and delivered pursuant to the terms hereof or pursuant to the terms of the Facility Agreements, as amended hereby, are hereby amended so that any reference in the Facility Agreements to the Facility Agreements shall mean a reference to theFacility Agreements as amended hereby. 

**11. Counterparts**. This Amendment may be separately executed in any number ofcounterparts, each of which shall be an original, but all of which, taken together, shall be deemed to constitute one and the same agreement. 

*[Remainder of Page Intentionally Left Blank]*

 

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IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be duly executed and delivered bytheir proper and duly authorized officers as of the day and year first above written. 

 
**MMA CONSTRUCTION FINANCE, LLC**By:  MuniMae Holdings, LLCIts:  Sole Member  
By:
 
Municipal Mortgage & Equity, LLC
  
Its:
 
Sole Member
   By:  
/s/    Melanie M. Lundquist

 
   Name:  
Melanie M. Lundquist

 
   Title:  
EVP & CFO

 
NOTICE ADDRESS:621 East Pratt Street, Suite 300Baltimore, MD 21202Attention:  Treasurer  General CounselFacsimile:  (410) 727-5387**MMA MORTGAGE INVESTMENT CORPORATION**By:  
/s/    Melanie M. Lundquist

 
Name:  
Melanie M. Lundquist

 
Title:  
EVP & CFO

 
NOTICE ADDRESS:621 East Pratt Street, Suite 300Baltimore, MD 21202Attention: Treasurer                 General Counsel
Facsimile: (410) 727-5387

**BANK OF AMERICA, N.A**By:  
/s/    Ugo Arinzeh

 
Name:  
Ugo Arinzeh

 
Title:  
Vice President

 
NOTICE ADDRESS:One Federal Street4th FloorMA5-503-04-16Boston, MA 02110Telephone: (617) 346-2396Facsimile: (617) 346-5025Attention: Loan Administration – Michael TwomeyWith copy to:Bank of America, N.A.730 15th Street, N.W.8th FloorDC1-701-08-04Washington, D.C. 20005Telephone: (202) 624-4345Facsimile: (202) 624-1847Attention: Ugo Arinzeh