Document:

exv4w1

Exhibit 4.1

THIRD ADDENDUM TO A DEED OF TRUST

This addendum (the “Addendum”) to the Deed of Trust entered into by and between Ormat Technologies,
Inc. (the “Company”) and Mishmeret — Trusts Services Company Ltd. (formerly: Ziv Haft Trust Company
Ltd.) (the: “Trustee”), dated August 3, 2010 as amended on January 31, 2011 (effective as of
January 27, 2011) and on February 13, 2011 (the Deed of Trust as amended twice, shall be referred
to hereinafter as the “Deed of Trust”) is made and executed this day of December 1, 2011 (the
“Effective Date”).

WHEREAS the Company convened a general meeting of the holders of the bonds issued under the Deed of
Trust, in which it proposed making amendments to the Deed of Trust in return to a one time
compensation to the holders of the aforesaid bonds, all as set forth in the notice of the general
meeting issued on November 3, 2011 (“The Company’s Proposal") (Schedule 1 - The Company’s
Proposal); and

WHEREAS, the general meeting of the bondholders approved, on November 27, 2011 The Company’s
Proposal; and

WHEREAS, the company has fulfilled its part in The Company’s Proposal; and

WHEREAS, the parties wish to amend the Deed of Trust in accordance with the approval of the general
meeting of the bondholders, which amendment shall be in full force and effect as of the Effective
Date,

NOW THEREFORE, in consideration of the mutual premises, covenants and understandings contained
herein, the parties agree as follows:

	1.	 	General

	 	1.1	 	The preamble to this Addendum constitutes an integral part hereof.

	 	1.2	 	Unless otherwise defined herein, the capitalized terms appearing herein shall
have the meanings attributed to them in the Deed of Trust.

	2.	 	Amendment

	 	2.1	 	The definition of the term “Adjusted EBITDA” in section 3.3 to the Deed of trust
will be replaced with the following:

	 	 	 	"“Adjusted EBITDA” — at any given time, the Company’s EBIDTA together with
depreciation, amortization, interest and taxes, which are attributed to the Company’s
investments in its non-consolidated subsidiaries presented on the equity basis,
according to the Company’s holding percentage therein, and net of any impairment of
property, plant and equipment and other intangible assets, as stated in the
Discussion and Financial Analysis Item in the annual and quarterly reports.”

	 	2.2	 	In section 3.5 to the Deed of Trust, the ratio “20%” shall be replaced with the
ratio of “25%”, so that section 3.5 shall read as follows:

	 	 	 	"The Company undertakes that as long as the principal of the Bonds has not been
repaid in full, the ratio between the capital and the total balance sheet as these
appear in its annual and quarterly consolidated financial statements (audited or
reviewed) will not be less than 25%.”

 

	3.	 	With the exception of the foregoing, no other variation shall be made in the Deed of Trust.

In witness whereof, the parties have executed this Addendum as of the Effective Date.

	 	 	 
	/s/Rami
Sebty  /s/ Rami Katzav

	 	/s/ Yehudit Bronicki
	 

	 	 
	The Trustee

Mishmeret — Trusts Services Company Ltd.

	 	The Company

Ormat Technologies, Inc.exv10w1

Exhibit 10.1

AMENDMENT NO. 1

TO THE

AMENDED AND RESTATED ADVISORY AGREEMENT

     This amendment no. 1 to the amended and restated Advisory Agreement made effective as of
September 20, 2005, (the “Advisory Agreement”), between CORNERSTONE CORE PROPERTIES REIT, INC., a
Maryland corporation (the “Company”), and CORNERSTONE REALTY ADVISORS, LLC, a California limited
liability company (the “Advisor”), is entered as of August 31, 2011 (the “Amendment”). Capitalized
terms used herein but not defined shall have the meaning set forth in the Advisory Agreement.

     WHEREAS, upon the terms set forth in this Amendment, the Advisor has agreed to amend and
restate Section 9.(b) of the Advisory Agreement;

     WHEREAS, except as expressly set forth herein the terms of the Advisory Agreement shall
continue in full force and effect and shall not be deemed to have otherwise been amended, modified,
revised or altered;

     NOW, THEREFORE, in consideration of the foregoing and of the mutual covenants and agreements
contained herein, the parties hereto agree to amend the Advisory Agreement as follows:

     Section 9.(b) is hereby amended and restated in its entirety as follows:

     9. Fees.

     ...

     “(b) Asset Management Fee. Subject to the overall limitations contained below
in this Section 9(b), during the period commencing on the date hereof and continuing
until September 30, 2011, the Company shall pay the Advisor for the asset management
services included in the services described in Section 4 a monthly fee (the “Asset
Management Fee”) in an amount equal to one-twelfth of 1.0% of the Average Invested
Assets, calculated on a monthly basis as of the last day of each month. Commencing
on October 1, 2011, the Asset Management Fee shall be reduced to a monthly amount
equal to one-twelfth of 0.75% of the Average Invested Assets, calculated on a
monthly basis as of the last day of each month. Notwithstanding the foregoing, the
Asset Management Fee shall be reduced if the Independent Directors determine that
compensation to be paid to the Advisor is not reasonable in relation to the nature
and quality of services performed and the investment performance of the Company and
that the provisions of the Advisory Agreement are being carried out in accordance
with Section 4.2 of the Charter.”

Signature Page Follows.

 

 

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

	 	 	 	 	 

	 	 	CORNERSTONE CORE PROPERTIES REIT, INC.
	 
	 	 	 	 
	 

	 	By:	 	/s/ Terry G. Roussel
	 

	 	 	 
	 

	 	 	 	Terry G. Roussel, Chief Executive Officer
	 
	 	 	 	 
	 	 	CORNERSTONE REALTY ADVISORS, LLC
	 
	 	 	 	 
	 

	 	By:	 	/s/ Terry G. Roussel
	 

	 	 	 
	 

	 	 	 	Terry G. Roussel, Presidentexv10w2

EXHIBIT 10.2

AMENDMENT NO. 2

TO THE

AMENDED AND RESTATED ADVISORY AGREEMENT

     This amendment no. 2 to the amended and restated Advisory Agreement made effective as of
September 20, 2005, (the “Advisory Agreement”), between CORNERSTONE CORE PROPERTIES REIT, INC., a
Maryland corporation (the “Company”), and CORNERSTONE REALTY ADVISORS, LLC, a California limited
liability company (the “Advisor”), is entered as of
November 11, 2011 (the “Amendment”).
Capitalized terms used herein but not defined shall have the meaning set forth in the Advisory
Agreement.

     WHEREAS, upon the terms set forth in this Amendment, the Advisor has agreed to amend and
restate Section 9.(d) of the Advisory Agreement;

     WHEREAS, except as expressly set forth herein the terms of the Advisory Agreement shall
continue in full force and effect and shall not be deemed to have otherwise been amended, modified,
revised or altered;

     NOW, THEREFORE, in consideration of the foregoing and of the mutual covenants and agreements
contained herein, the parties hereto agree to amend the Advisory Agreement as follows:

     Section 9.(d) is hereby amended and restated in its entirety as follows:

     9. Fees.

     ...

     “(d) Disposition Fees. If the Advisor or an Affiliate provides a substantial
amount of the services (as determined by a majority of the Directors, including a
majority of the Independent Directors) in connection with the Sale of one or more
Properties, the Advisor or such Affiliate shall receive at closing a Disposition Fee
equal to 1.0% of the sales price of such Property or Properties. Any Disposition Fee
payable under this section may be paid in addition to real estate commissions paid
to non-Affiliates, provided that the total real estate commissions (including such
Disposition Fee) paid to all Persons by the Company for each Property shall not
exceed an amount equal to the lesser of (i) 6.0% of the aggregate Contract Sales
Price of each Property or (ii) the Competitive Real Estate Commission for each
Property. The Company will pay the Disposition Fees for a property at the time the
property is sold.”

Signature Page Follows.

 

 

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

	 	 	 	 	 	 	 

	 	 	CORNERSTONE CORE PROPERTIES REIT, INC.
	 
	 	 	 	 	 	 
	 

	 	By:	 	/s/ Terry G. Roussel
	 	 
	

	 	 	 	Terry G. Roussel, Chief Executive Officer	 	 
	 
	 	 	 	 	 	 
	 	 	CORNERSTONE REALTY ADVISORS, LLC
	 
	 	 	 	 	 	 
	 

	 	By:	 	/s/ Terry G. Roussel
	 	 
	 

	 	 	 	Terry G. Roussel, Presidentex102gridnote.htm

 

 

 

REVOLVING CREDIT GRID NOTE

 

 

$100,000

 

 

September 29, 2010

 

 

San Diego, CA

 

 

On the due date for each advance (as recorded on the grid attached hereto as Schedule A or on any additional pages thereof), the undersigned Sport Tech Enterprises, Inc., (the "Maker"), having an address 10321 Running Falls, Las Vegas, NV 89178; promises to pay to the order of Andrew I. Widme, (the "Holder"), having an address at 10321 Running Falls, Las Vegas, NV 89178; or such other place as may be designated in writing by the Holder, the principal sum of up to One Hundred Thousand Dollars ($100,000), or the aggregate amount of all unpaid revolving credit loans ("Advances") made to the Maker by the Holder from time to time hereinafter, whichever is less, and to accrue interest (computed on the basis of a year of 360 days) from the date of this Note on the unpaid principal amount of this Note, in like money, at said address, at the interest rate set forth below, payable concurrent with the principal.Allprincipal and accrued interest of this Note shall be due and payable on September 29, 2013 to the Holder.

 

 

1. INTEREST. The principal amount of this Note shall bear interest at the rate of six percent (6%) per annum.

 

 

2. ENDORSEMENT. All Advances made to the Maker by the Holder under this Note and all payments of principal amounts in respect of such Advances may be endorsed by the Holder on Schedule A attached to this Note, which endorsements shall, in the absence of manifest error, be conclusive as to the outstanding principal amount of all Advances; provided, however, that the failure to make such notation with respect to any Advance or payment shall not limit or otherwise affect the obligations of the Maker under this Note.

 

 

3. PAYMENT. This Note may be prepaid in whole or in part without the consent of the Holder.

 

 

4. DEFAULT. If all principal and interest due and owing to the Holder on this Note is not paid within thirty (30) days of demand by the Holder as set forth above, the Maker shall be deemed to be in default, and additional interest shall be deemed to have commenced to accrue from the date hereof at the rate of ten percent (10%) per annum. Upon such default, the Holder shall also be entitled to receive from the Maker all costs of collection of this Note, including without limitation, reasonable attorneys’ fees and disbursements, and costs of suit. All amounts payable pursuant to this Note shall be immediately due and payable, without presentment, demand, protest or notice of any kind, upon the occurrence of any of the following events (each, an "Event of Default"):

 

 

(a) Failure of the Maker to pay any installment of principal or interest on the date when it is due hereunder.

 

 

1

  

  

  

 

 

 

 

 

 

 

(b) Failure of the Maker to perform or comply with any of the agreements, conditions, covenants, provisions or stipulations contained in this Note.

 

 

(c) Any assignment for the benefit of creditors made by the Maker.

 

 

(d) Appointment of a receiver, liquidator or trustee for the Maker; the filing by or against the Maker of any petition for bankruptcy pursuant to the Federal Bankruptcy Code or any similar federal or state statute (and, in the case of any such petition filed against the Maker, such petition is not dismissed within forty-five (45) days); or the institution of any proceeding for the dissolution or liquidation of the Maker.

 

 

5. WAIVER OF DEMAND. The undersigned hereby waives presentment, demand, notice of dishonor, protest, and all other demands and notices, in connection with the delivery, acceptance, performance, and enforcement of this Note.

 

 

6. NO ORAL MODIFICATIONS. This Note can only be changed by an agreement in writing signed by both the Maker and the Holder.

 

 

7. SEVERABILITY. The invalidity or unenforceability of any provision of this Note will not in any manner affect any other provision. If any provision is determined to be invalid or unenforceable, this Note shall be construed as if the invalid or unenforceable provision were omitted.

 

 

8. GOVERNING LAW. This Note will be governed by the laws of the State of California without regard to conflicts of laws principals.

 

 

9. BINDING EFFECT. This Note shall be binding upon the Maker and any successor to the principal business interests of the Maker, whether by merger or otherwise.

 

 

10. NOTICES. Any notice, request or other communication pursuant to this Note shall be deemed duly given if hand delivered or mailed by certified or registered mail, in the case of the Holder, to the address specified above, and in the case of the Maker, to the address specified above, or in the case of either party, to such other address as it may have designated as its address for receiving notices hereunder by a notice given to the party hereto in the manner herein provided.

 

 

IN WITNESS WHEREOF, the undersigned has caused this Note to be duly executed as of the date first above written.

 

 

Attest: Sport Tech Enterprises, Inc.

 

 

By: /S/ Andrew I. Widme   

 

 

Andrew I. Widme, President

 

 

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SCHEDULE A

 

 

TO

 

 

REVOLVING CREDIT GRID NOTE

 

	
Date

	
Amount of Loan

	
Amount of Principal Repaid

	
Unpaid Principal Balance of Revolving Credit Grid Note

	
Name of Person Making Notation

	
9/29/2010

	
$1,000

	
$1,000

	
Andrew I. Widme

	
10/14/2010

	
$1,000

	
$2,000

	
Andrew I. Widme

	
11/01/2010

	
$1,000

	
$3,000

	
Andrew I. Widme

	
11/16/2010

	
$1,000

	
$4,000

	
Andrew I. Widme

 

 

 

 

 

3

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