SUITS, CONTROVERSIES,
AGREEMENTS, PROVISIONS AND DEMANDS IN LAW OR IN EQUITY, KNOWN BY EITHER OBLIGOR
AND WHETHER NOW EXISTING OR HEREAFTER ARISING (COLLECTIVELY, THE "CLAIMS'),
INCLUDING WITHOUT LIMITATION, ANY USURY CLAIMS, THAT HAVE AT ANY TIME BEEN
OWNED, OR THAT ARE HEREAFTER OWNED, IN TORT OR IN CONTRACT BY ANY OBLIGOR OR ANY
AFFILIATE OF AN OBLIGOR AND THAT ARISE OUT OF ANY ONE OR MORE CIRCUMSTANCES OR
EVENTS THAT OCCURRED PRIOR TO THE DATE OF THIS AGREEMENT. THE FOREGOING RELEASE
IS INTENDED TO BE EFFECTIVE AS A BAR TO EVERY CLAIM AND ALL CLAIMS.
[SIGNATURES APPEAR ON FOLLOWING PAGES]
1
IN WITNESS WHEREOF, the parties hereto have executed and delivered, or have
caused their respective duly authorized officers or representatives to execute
and deliver, this Amendment as of the day and year first above written.
BORROWER:
AVATAR PROPERTIES INC.,
a Florida corporation
By:
/s/ PATRICIA K. FLETCHER -
Patricia K. Fletcher
Executive Vice President
GUARANTOR:
AVATAR HOLDINGS INC.,
a Delaware corporation
By:
/s/ PATRICIA K. FLETCHER -
Patricia K. Fletcher
Executive Vice President
AGENT:
WACHOVIA BANK, NATIONAL ASSOCIATION
By:
/s/ BRUCE W. PERRINE, JR.
Name: Bruce W. Perrine, Jr.
Title: Managing Director
[Signatures continue on the following page.]
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LENDERS:
WACHOVIA BANK, NATIONAL ASSOCIATION
By:
/s/ BRUCE W. PERRINE, JR.
Name: Bruce W. Perrine, Jr.
Title: Managing Director
GUARANTY BANK
By:
/s/ JOHN P. WEDEMEYER
Name: John P. Wedemeyer
Title: Vice President
FRANKLIN BANK, SSB, a Texas State Savings Bank
By:
N/A -
Name:
Title:
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