Document:

Exhibit 4.1

 

THE BANK OF NEW YORK MELLON

NEW YORK’S FIRST BANK-FOUNDED 1784 BY ALEXANDER HAMILTON

 

 

2 HANSON PLACE, 12TH FLOOR, BROOKLYN,
N.Y. 11217

 

 

 

December 4, 2018

 

Hennion & Walsh, Inc.

2001 Route 46, Waterview Plaza

Parsippany, New Jersey 07054

 

Smart Trust 407 (the “Fund”)

 

Dear Sirs:

The Bank of New York
Mellon is acting as trustee for the Fund, consisting of the unit investment trust (the “Trust”) included in
the Registration Statement relating to the Fund. We enclosed a list of the securities to be deposited in the Trust on the date
hereof. The prices indicated therein reflect our evaluation of such securities as of close of business on December 3, 2018, in
accordance with the valuation method set forth in the applicable Standard Terms and Conditions of Trust and Trust Agreement. We
consent to the reference to The Bank of New York Mellon as the party performing the evaluations of the Trust securities in the
Registration Statement (No. 333-227581) filed with the Securities and Exchange Commission with respect to the registration of the
sale of the Units of the Trust and to the filing of this consent as an exhibit thereto.

 

Very truly yours,

 

/s/ GERARDO CIPRIANO                             

Gerardo Cipriano

Vice PresidentExhibit 4.3

 

Consent of Independent Registered
Public Accounting Firm

We have issued our
report dated December 4, 2018, with respect to the financial statement of Smart Trust 407 contained in Amendment No. 1 to the Registration
Statement on Form S-6 (File No. 333-227581) and related Prospectus. We consent to the use of the aforementioned report in the Registration
Statement and Prospectus, and to the use of our name as it appears under the caption “Independent Registered Public Accounting
Firm”.

 

/s/ Grant
Thornton LLP

 

Chicago, Illinois

December 4, 2018Exhibit 4.1

 

AMENDMENT TO WARRANT AGENT AGREEMENTS

  

This
Amendment to certain Warrant Agent Agreements (the "Agreements") is made effective as of December 4, 2018,
by and between Zion Oil & Gas, Inc., a Delaware corporation having its principal place of business at 12655 North Central
Expressway, Suite 1000, Dallas, Texas 75243 (the "Company"), and American Stock Transfer & Trust Company,
LLC, a New York limited liability trust company with offices at 6201 15th Avenue, Brooklyn, NY 11219 (”AST").

WHEREAS,
the Company has implemented Agreements with AST as the Company’s Warrant Agent (the “Warrant Agent”),
under a Warrant Agent Agreement dated February 2, 2015 for the Warrant ZNWAD, under a Warrant Agent Agreement dated February 1,
2018 for the Warrant ZNWAH, under a Warrant Agent Agreement dated April 2, 2018 for the Warrant ZNWAI and under a Warrant Agent
Agreement dated August 21, 2018 for the Warrant ZNWAJ;

WHEREAS,
the Warrant ZNWAD has an expiration date of May 2, 2019, the Warrant ZNWAH has an expiration date of April 19, 2019, the Warrant
ZNWAI has an expiration date of June 29, 2019 and the Warrant ZNWAJ has an expiration date of October 29, 2019.

WHEREAS,
pursuant to Section 3.2 of the Warrant Agent Agreements, the Company in its sole discretion hereby extends the duration of the
above Warrants by delaying the Expiration Dates and such extension shall be identical in duration among all of the Warrants and,
further, the Company may extend the duration of the Exercise Periods in accordance with Section 3.2 without registered holder
consent.

NOW,
THEREFORE, in consideration of the mutual agreements herein contained, the parties hereto agree as follows:

 3.2 Duration of Warrants.

 

Added last paragraph for each Warrant Agent Agreement:

 

The Company is extending the duration of the Warrant ZNWAD by one
(1) year from the expiration date of May 2, 2019 to May 2, 2020.

 

The Company is extending the duration of the Warrant ZNWAH by one
(1) year from the expiration date of April 19, 2019 to April 19, 2020.

 

The Company is extending the duration of the Warrant ZNWAI by one
(1) year from the expiration date of June 29, 2019 to June 29, 2020.

 

The Company is extending the duration of the Warrant ZNWAJ by one
(1) year from the expiration date of October 29, 2019 to October 29, 2020.

 

    	 		 

     

    

  

IN WITNESS
WHEREOF, this Agreement has been duly executed by the parties hereto effective as of the day and year first above written.

 

	ZION OIL & GAS, INC.	 	 
	 	 	 	 
	By:	/s/Martin
    M. van Brauman	 	 
	Name: Martin M. van Brauman	 	 
	Title:  Corporate Secretary, Treasurer, SVP, Director	 
	 	 	 
	Date: December 4, 2018	 	 
	 	 	 	 
	AMERICAN STOCK TRANSFER & TRUST COMPANY, LLC	 
	 	 	 	 
	By:	/s/Mike Nespoli	 	 
	Name: Mike Nespoli	 	 
	Title:  Executive Director, Relationship
    Management	 
	 	 
	Date: December 4, 2018First
Amendment to Amended and Restated Credit Agreement

 

This
First Amendment to Amended and Restated Credit Agreement (herein, this “Amendment”) is entered into as of November
29, 2018, among UMH Properties, Inc., a Maryland corporation, operating as a qualified
real estate investment trust under Sections 856 through 860 of the Code (the “Borrower”), the Guarantors party
hereto, Bank of Montreal (“BMO”) and JPMorgan Chase Bank, N.A.
(“JPMorgan”), as Lenders, and BMO, as Administrative Agent (in
such capacity, the “Administrative Agent”).

 

Preliminary
Statements

 

A.
Borrower, the Guarantors party thereto, the Lenders party thereto, and the Administrative Agent have heretofore entered into that
certain Amended and Restated Credit Agreement, dated as of March 28, 2017 (as amended, restated, supplemented or otherwise modified
from time to time, the “Credit Agreement”). All capitalized terms used herein without definition shall have
the same meanings herein as such terms have in the Credit Agreement, as amended by this Amendment.

 

B.
Borrower has requested that (i) the maturity date under the Credit Agreement be extended, (ii) the amount of the revolving credit
facility available under the Credit Agreement be increased from $50,000,000 to $75,000,000, (iii) JPMorgan become an additional
Lender under the Credit Agreement, and (iv) certain other amendments be made to the Credit Agreement, and Administrative Agent
and the Lenders are willing to do so pursuant to the terms below.

 

C.
This Amendment shall constitute a Loan Document and these Preliminary Statements shall be construed as part of this Amendment.

 

Now,
Therefore, for good and valuable consideration,
the receipt and sufficiency of which is hereby acknowledged, the parties hereto agree as follows:

 

Section
1. Amendment to Credit Agreement.

 

Subject
to the satisfaction of the conditions precedent set forth in Section 3 below, the Credit Agreement (including all Schedules and
Exhibits thereto) shall be and hereby is amended to delete the struck text (indicated textually in the same manner as the following
example: struck text) and to add the double-underlined text (indicated textually in the same manner as the following
example: double-underlined text) as set forth in the pages of the Credit
Agreement attached as Annex I hereto.

 

Section
2. Reaffirmation.

 

2.1.
The Borrower hereby (a) ratifies and reaffirms the Credit Agreement (as amended hereby), the Loan Documents and all of its payment
and performance obligations, contingent or otherwise, thereunder, and (b) confirms that the Credit Agreement and the other Loan
Documents remain in full force and effect. The Borrower acknowledges that the Administrative Agent and the Lenders are relying
on the assurances provided herein in entering into this Amendment.

 

    	 

    	 

    

 

2.2.
Each Guarantor hereby (i) acknowledges and consents to the terms of this Amendment and the Credit Agreement as amended by this
Amendment, (ii) confirms that its Guaranty in favor of the Administrative Agent, for the benefit of the Lenders, and all of its
obligations thereunder, as amended, remain in full force and effect and (iii) reaffirms all of the terms, provisions, agreements
and covenants contained in its Guaranty. Each Guarantor agrees that its consent to any further amendments or modifications to
the Credit Agreement and other Loan Documents shall not be required solely as a result of this acknowledgment and consent having
been obtained, except to the extent, if any, required by any Guaranty.

 

Section
3. Conditions Precedent.

 

The
effectiveness of this Amendment is subject to the satisfaction of all of the following conditions precedent:

 

3.1.
The Administrative Agent shall have received this Amendment duly executed by the Borrower, each Guarantor, the Lenders and L/C
Issuer.

 

3.2.
The Administrative Agent shall have received an Amended and Restated Revolving Note made by the Borrower in favor of Bank of Montreal
and a Revolving Note made by the Borrower in favor of JPMorgan Chase Bank, N.A.

 

3.3.
If the Borrower qualifies as a “legal entity customer” under the Beneficial Ownership Regulation, it shall deliver
a Beneficial Ownership Certification in relation to it.

 

3.4.
The Administrative Agent shall have received specimen signatures of the persons authorized to execute such documents on the Borrower’s
and each Guarantor’s behalf and a written certificate of an Authorized Representative of Borrower and each Guarantor that
(i) either affirms that there have been no change to Borrower’s or such Guarantor’s articles of incorporation or articles
of organization, as applicable, and bylaws or operating agreement, as applicable, or attaches any amendments to Borrower’s
or such Guarantor’s articles of incorporation or articles of organization, as applicable, and/or bylaws or operating agreement,
as applicable, and (ii) certifies that attached thereto are a true, correct and completed copy of the written resolutions or other
evidence reasonably acceptable to the Administrative Agent of the Borrower’s and each such Guarantor’s Board of Directors
(or similar governing body) authorizing the execution and delivery of this Amendment and performance of this Amendment and the
Credit Agreement as amended by this Amendment.

 

3.5.
The Administrative Agent shall have received a written opinion of counsel to the Borrower and each Guarantor, in form and substance
reasonably satisfactory to the Administrative Agent.

 

    	 

    	 

    

 

3.6.
The Administrative Agent shall have received such other agreements, instruments, documents, certificates, and opinions as the
Administrative Agent may reasonably request, and legal matters incident to the execution and delivery of this Amendment shall
be reasonably satisfactory to the Administrative Agent and its counsel.

 

Section
4. Representations.

 

In
order to induce the Administrative Agent and the Lenders to execute and deliver this Amendment, the Borrower and each Guarantor
hereby represents to the Administrative Agent and the Lenders that (a) after giving effect to this Amendment, the representations
and warranties set forth in Section 6 of the Credit Agreement, as amended by this Amendment, are and shall be and remain true
and correct in all material respects (where not already qualified by materiality, otherwise in all respects) as of the date hereof
(or, if any such representation and warranty is expressly stated to have been made as of a specific date, as of such specific
date) and (b) no Default or Event of Default has occurred and is continuing under the Credit Agreement or shall result after giving
effect to this Amendment.

 

Section
5. Miscellaneous.

 

5.1.
Except as specifically amended herein, the Credit Agreement shall continue in full force and effect in accordance with its original
terms. Reference to this specific Amendment need not be made in the Credit Agreement, the Notes, the other Loan Documents, or
any other instrument or document executed in connection therewith, or in any certificate, letter or communication issued or made
pursuant to or with respect to the Credit Agreement, any reference in any of such items to the Credit Agreement being sufficient
to refer to the Credit Agreement as amended hereby.

 

5.2.
The Borrower agrees to pay on demand all out-of-pocket costs and out-of-pocket expenses of or incurred by the Administrative Agent
in connection with the negotiation, preparation, execution and delivery of this Amendment, including the reasonable and documented
out-of-pocket fees and disbursements of counsel for the Administrative Agent.

 

5.3.
This Amendment may be executed in any number of counterparts, and by the different parties on different counterpart signature
pages, all of which taken together shall constitute one and the same agreement. Any of the parties hereto may execute this Amendment
by signing any such counterpart and each of such counterparts shall for all purposes be deemed to be an original. Delivery of
an executed counterpart of a signature page of this Amendment by facsimile or in electronic (e.g., “pdf” or “tif”)
format shall be effective as delivery of a manually executed counterpart of this Amendment. This
Amendment, and the rights and duties of the parties hereto, shall be construed and determined in accordance with the laws of the
State of Illinois without regard to conflicts of law principles that would require application of the laws of another jurisdiction.

 

[Signature
Pages Follow]

 

    	 

    	 

    

 

This
First Amendment to Amended and Restated Credit Agreement is entered into as of the date and year first above written.

 

	 	Borrower:
	 	 	 
	 	UMH
    Properties, Inc.
	 	 	        
	 	By	 
	 	Name	 
	 	Title	 

 

[SIGNATURE
PAGE TO FIRST AMENDMENT TO AMENDED AND RESTATED CREDIT AGREEMENT—

UMH
PROPERTIES, INC.]

 

    	 

    	 

    

 

	 	Guarantors:
	 	 	 
	 	UMH
    IN Countryside Estates, LLC
	 	 	         
	 	By	 
	 	Name	 
	 	Title	 

 

	 	Mobile
    Home Village, Inc.
	 	 	   
	 	By	 
	 	Name	 
	 	Title	 

 

	 	United
    Mobile Homes of Ohio, Inc.
	 	 	 
	 	By	 
	 	Name	 
	 	Title	 

 

	 	United
    Mobile Homes Of Pennsylvania, Inc.
	 	 
	 	By	           
	 	Name	 
	 	Title	 

 

[SIGNATURE
                                         PAGE TO FIRST AMENDMENT TO AMENDED AND RESTATED CREDIT AGREEMENT—

UMH
PROPERTIES, INC.]

 

    	 

    	 

    

 

	 	UMH
    PA City View, LLC
	 	 
	 	By	 
	 	Name	 
	 	Title	 

 

	 	UMH
    TN Countryside Village, LLC
	 	 	            
	 	By	 
	 	Name	 
	 	Title	 

 

	 	UMH
    IN Meadows, LLC
	 	 
	 	By	       
	 	Name	 
	 	Title	 

 

[SIGNATURE
                                         PAGE TO FIRST AMENDMENT TO AMENDED AND RESTATED CREDIT AGREEMENT—

UMH
PROPERTIES, INC.]

 

    	 

    	 

    

 

	 	“Administrative
    Agent And L/C Issuer”
	 	 
	 	Bank
    Of Montreal, as L/C Issuer and as Administrative
    Agent
	 	 
	 	By	               
	 	Name	 
	 	Title	 

 

[SIGNATURE
                                         PAGE TO FIRST AMENDMENT TO AMENDED AND RESTATED CREDIT AGREEMENT—

UMH
PROPERTIES, INC.]

 

    	 

    	 

    

 

	 	“Lenders”
	 	 	 
	 	Bank
    Of Montreal, as a Lender
	 	 
	 	By	          
	 	Name	 
	 	Title	                      

 

[SIGNATURE
                                         PAGE TO FIRST AMENDMENT TO AMENDED AND RESTATED CREDIT AGREEMENT—

UMH
PROPERTIES, INC.]

 

    	 

    	 

    

 

	 	JPMorgan Chase Bank, N.A., as a Lender
	 	 
	 	By	 
	 	Name	 
	 	Title	 

 

[SIGNATURE
                                         PAGE TO FIRST AMENDMENT TO AMENDED AND RESTATED CREDIT AGREEMENT—

UMH
PROPERTIES, INC.]

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