EXHIBIT 4.18
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                          NOTE MODIFICATION AGREEMENT
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      THIS NOTE MODIFICATION AGREEMENT (this "Agreement") is entered into
as of the 2nd day of October, 2000, by and between Amfac Property
Investment Corp., a Hawaii corporation ("Amfac") and NB Realty Holdings-VI,
Inc., an Illinois corporation ("NB").


                             W I T N E S S E T H :

      WHEREAS, Amfac is the Maker under that certain Purchase Money
Promissory Note Secured By Mortgage (the "Note"), dated as of September 30,
1998, in favor of Tobishima Pacific, Inc. ("Tobishima"), in the original
principal amount of $9,600,000.00; and,

      WHEREAS, as of the date hereof, Tobishima sold the Note and assigned
its interest therein together with all documents securing same
(collectively, the "Loan Documents"), to 900 Investment Management, L.P., a
Delaware limited partnership, which immediately re-sold the Note to NB;
and,

      WHEREAS, as of the date hereof, the remaining principal balance of
the Note is $5,460,000, and the outstanding accrued interest thereon is
$125,008.65; and,

      WHEREAS, in connection with certain other accommodations made or to
be made by NB and its affiliated and related companies to Amfac and its
affiliates, NB is willing to consider the restructure of the debt evidenced
by the Note, and wishes to grant a short-term deferral of payments due
under the Note pending the negotiation of such a restructuring.

      NOW THEREFORE, in consideration of the modifications to the Note set
forth herein, and for other good and valuable consideration, the receipt
and sufficiency of which is hereby mutually acknowledged, Amfac and NB
agree the modify and amend the Note as follows:

      1.    Installments of principal and interest on the outstanding
principal balance otherwise payable prior to November 30, 2000, are hereby
deferred until and shall be payable on November 30, 2000.

      2.    Principal and interest under the Note shall hereafter be
payable at 900 North Michigan Avenue, Chicago, Illinois 60611, or at such
other location as Holder may designate to Maker in writing. The principal
and interest shall be payable by wire transfer in immediately available
funds in lawful money of the United States as follows:

                  Bank of America NT&SA
                  Chicago, Illinois
                  ABA 071000039
                  Acct. #7366801043
                  For the Account of: NB Realty Holdings-VI, Inc.
                  Notify: Ron D. Godsey

      3.    In connection with the purchase of the Note, NB paid Tobishima
the additional amount of $18,000 representing attorneys' fees that were
payable to Tobishima by APIC. APIC agrees to reimburse NB for such advance
and in addition reimburse NB for any attorneys fees paid by NB in
connection with the purchase of the Note.




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      4.    Except as set forth in this Agreement, all the terms and
provisions of the Note shall continue in full force and effect. The Note,
as amended hereby, shall from and after the date hereof inure to the
benefit of Holder and its successors and assigns.

      5.    Capitalized terms used herein and not otherwise defined shall
have the meanings ascribed to as such terms in the Note.  This Agreement
may be executed in two or more counterparts, each of which shall be deemed
an original, but all of which together shall constitute one and the same
instrument.  Captions and headings are for descriptive purposes only and
shall not control or alter the meaning of this Agreement as set forth in
the text.


      IN WITNESS WHEREOF, the parties hereto have executed and delivered
this Agreement as of the date first above written.


                               AMFAC PROPERTY INVESTMENT CO.,
                               a Hawaii corporation


                               By:
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                               Its:
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                               NB REALTY HOLDINGS-VI, INC.,
                               an Illinois corporation,


                               By:
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                               Its:
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