WITH THIS THIRD
AMENDMENT TO CREDIT AGREEMENT AND THE OTHER LOAN DOCUMENTS, OR THE TRANSACTIONS
CONTEMPLATED HEREIN. EACH OF BORROWER AND GUARANTOR HEREBY CERTIFIES THAT NO
REPRESENTATIVE OR AGENT OF THE LENDERS, NOR THE LENDERS' COUNSEL, HAS
REPRESENTED, EXPRESSLY OR OTHERWISE, THAT THE LENDERS, OR THE AGENT ON BEHALF OF
THE LENDERS, WOULD NOT, IN THE EVENT OF SUCH LITIGATION, SEEK TO ENFORCE THIS
WAIVER OF RIGHT TO JURY TRIAL PROVISION. EACH OF BORROWER AND GUARANTOR
ACKNOWLEDGES THAT THE LENDERS HAVE BEEN INDUCED TO ENTER INTO THIS AGREEMENT BY,
INTER ALIA, THE PROVISIONS OF THIS PARAGRAPH.
IN WITNESS WHEREOF, the parties have duly executed this Third Amendment to
Credit Agreement and Consent and Waiver on the day and year first above written.
BORROWER:
AVATAR PROPERTIES INC., a Florida corporation
BY: /s/ Patricia K. Fletcher
K. Fletcher
TITLE: Executive Vice President
Date:
August 14, 2007
JOINED IN BY GUARANTOR:
AVATAR HOLDINGS INC., a Delaware corporation
BY: /s/ Patricia K. Fletcher
NAME: Patricia K. Fletcher
TITLE: Executive Vice President
Date: August 14, 2007
LENDERS:
WACHOVIA BANK, NATIONAL ASSOCIATION
BY: /s/ R. Scott Holtzapple
NAME: R. Scott Holtzapple
TITLE: Senior Vice President
Date: August 9, 2007
GUARANTY BANK
John Wedemeyer
NAME: John Wedemeyer
TITLE: Vice President
Date: August 9, 2007
FRANKLIN BANK, SSB, a Texas Savings Bank
BY:_/s/ Lawrence Shields
NAME: Lawrence Shields
TITLE: Vice President
Date: August 9, 2007