Document:

FEI-ThirdAmendmenttoCreditAgreement

Exhibit 10.1
THIRD AMENDMENT TO CREDIT AGREEMENT
THIS THIRD AMENDMENT TO CREDIT AGREEMENT (the “Third Amendment” or this “Amendment”), effective as of July 3, 2014, is entered into by and among FEI COMPANY, an Oregon corporation (the “Borrower”), each of the Guarantors listed on the signature pages hereof (such Guarantors, together with the Borrower, the “Obligors”), each of the Lenders listed on the signature pages hereto and JPMORGAN CHASE BANK, N.A., as Administrative Agent under the Credit Agreement (as herein defined) (in such capacity, together with its successors in such capacity, the “Administrative Agent”).
RECITALS
WHEREAS, the Borrower, the Guarantors party thereto, the lenders party thereto (the “Lenders”), the Administrative Agent and J.P. Morgan Europe Limited, as Alternative Currency Agent for the Lenders, are parties to that certain Credit Agreement dated as of June 4, 2008 (as amended by that certain First Amendment to Credit Agreement, Security and Pledge Agreement and Disclosure Letter dated March 3, 2009 and that certain Second Amendment to Credit Agreement and Security Agreement and Partial Release dated April 26, 2011, and as further amended, modified and supplemented from time to time, the “Credit Agreement”); and
WHEREAS, the Obligors have requested the Administrative Agent and the Lenders to amend certain provisions of the Credit Agreement (as hereinafter defined); and 
WHEREAS, the Administrative Agent and each Lender signatory hereto has agreed to amend the Credit Agreement to the extent reflected in this Amendment.
NOW, THEREFORE, in consideration of the premises and for other good and valuable consideration and the mutual benefits, covenants and agreements herein expressed, the receipt and sufficiency of which are hereby acknowledged, the parties hereto hereby agree as follows:
		
	1.
	Defined Terms.  All capitalized terms used in this Amendment and not otherwise defined herein shall have the meanings ascribed to such terms in the Credit Agreement.

		
	2.
	Amendments to Section 1.01 of the Credit Agreement.  

(a)Section 1.01 of the Credit Agreement is hereby amended to restate the definition of “Obligations” in its entirety as follows:
“Obligations” means all of the duties, obligations and liabilities of any kind of the Borrower and each Guarantor hereunder or under any of the Loan Documents including, on a pari passu basis, any obligation owing to a Cash Management Bank under any Cash Management Agreement; provided that the “Obligations” shall specifically exclude the Excluded Swap Obligations.”

(b)Section 1.01 of the Credit Agreement is hereby amended by adding the following new definitions of “Commodity Exchange Act”, “Excluded Swap Obligations”, “Qualified ECP Guarantor” and “Swap Obligations” in proper alphabetical order:
“Commodity Exchange Act” means the Commodity Exchange Act (7 U.S.C. § 1 et seq.), as amended from time to time, and any successor statute.
“Excluded Swap Obligation” means, with respect to any Guarantor, any Swap Obligation if, and to the extent that, all or a portion of the guarantee of such Guarantor of, or the grant by such Guarantor of a security interest to secure, such Swap Obligation (or any guarantee thereof) is or becomes illegal under the Commodity Exchange Act or any rule, regulation or order of the Commodity Futures Trading Commission (or the application or official interpretation of any thereof) by virtue of such Guarantor’s failure for any reason to constitute an “eligible contract participant” as defined in the Commodity Exchange Act and the regulations thereunder at the time the guarantee of such Guarantor or the grant of such security interest becomes effective with respect to such Swap Obligation.  If a Swap Obligation arises under a master agreement governing more than one swap, such exclusion shall apply only to the portion of such Swap Obligation that is attributable to swaps for which such guarantee or security interest is or becomes illegal.
“Qualified ECP Guarantor” means, in respect of any Swap Obligation, each Obligor that has total assets exceeding $10,000,000 at the time the relevant guarantee or grant of the relevant security interest becomes effective with respect to such Swap Obligation or such other Person as constitutes an “eligible contract participant” under the Commodity Exchange Act or any regulations promulgated thereunder and can cause another Person to qualify as an “eligible contract participant” at such time by entering into a keepwell under Section 1a(18)(A)(v)(II) of the Commodity Exchange Act.
“Swap Obligation” means, with respect to any Guarantor, any obligation to pay or perform under any agreement, contract or transaction that constitutes a “swap” within the meaning of section 1a(47) of the Commodity Exchange Act.
		
	3.
	Amendment to Section 6.07 of the Credit Agreement.  Section 6.07 of the Credit Agreement is hereby amended to restate subsection (h) in its entirety as follows:

“(h)    (i) Restricted Payments in any amount so long as at the time of such Restricted Payment, and after giving pro forma effect thereto, (A) no Event of Default exists or is created thereby and (B) the 

2

Leverage Ratio is less than 2.50 to 1.0 and (ii) Restricted Payments up to an aggregate amount of $100,000,000 in any fiscal year if at the time of such Restricted Payment, and after giving pro forma effect thereto, (A) no Event of Default exists or is created thereby and (B) the Leverage Ratio is equal to or greater than 2.50 to 1.0.”
		
	4.
	Amendment to Article 9 of the Credit Agreement.  Article 9 of the Credit Agreement is hereby amended to add the following new Section 9.10 at the end of said Article 9:

“SECTION 9.10    Keepwell.  Each Qualified ECP Guarantor hereby jointly and severally, absolutely, unconditionally and irrevocably undertakes to provide such funds or other support as may be needed from time to time by each other Obligor to honor all of its obligations hereunder in respect of Swap Obligations (provided, however, that each Qualified ECP Guarantor shall only be liable under this Section 9.10 for the maximum amount of such liability that can be hereby incurred without rendering its obligations under this Section 9.10, or otherwise hereunder, voidable under applicable law relating to fraudulent conveyance or fraudulent transfer, and not for any greater amount).  The obligations of each Qualified ECP Guarantor under this Section shall remain in full force and effect until discharge of the Guarantee as described in Section 9.03.  Each Qualified ECP Guarantor intends that this Section 9.10 constitute, and this Section 9.10 shall be deemed to constitute, a “keepwell, support, or other agreement” for the benefit of each other Obligor for all purposes of Section 1a(18)(A)(v)(II) of the Commodity Exchange Act.”
5.    Amendment to Exhibit 5.01(c) of the Credit Agreement.  Exhibit 5.01(c) of the Credit Agreement is hereby deleted in its entirety and replaced with Exhibit 5.01(c) in the form attached hereto.
		
	6.
	Ratification.  Each Obligor hereby ratifies all of its Obligations under the Credit Agreement and the other Loan Documents and agrees and acknowledges that the Credit Agreement and the other Loan Documents are and shall continue to be in full force and effect as amended and modified by this Amendment.  Nothing in this Amendment extinguishes, novates or releases any right, claim, lien, security interest or entitlement of any of the Lenders, the Secured Parties or the Administrative Agent created by or contained in the Credit Agreement or in any other Loan Document nor is any Obligor released from any covenant, warranty or obligation created by or contained therein.

		
	7.
	Representations and Warranties.  Each Obligor hereby represents and warrants to the Administrative Agent, the Lenders and the Secured Parties that (a) this Amendment has been duly executed and delivered on behalf of such Obligor, (b) this 

3

Amendment constitutes a valid and legally binding agreement enforceable against each Obligor in accordance with its terms, subject to applicable bankruptcy, insolvency, fraudulent transfer, reorganization, moratorium or other laws affecting creditors’ rights generally and subject to general principles of equity, regardless of whether considered in a proceeding in equity or at law, (c) the representations and warranties contained in the Credit Agreement and the other Loan Documents are true and correct on and as of the date hereof in all material respects as though made as of the date hereof, except as heretofore otherwise disclosed in writing to the Administrative Agent, provided, that to the extent such representations and warranties were made as of a specified date, the same shall be required to remain true and correct in all material respects as of such specific date, (d) no Default or Event of Default exists under the Credit Agreement or any other Loan Document and (e) the execution, delivery and performance of this Amendment has been duly authorized by each of the Obligors.
		
	8.
	Conditions to Effectiveness.  This Amendment shall be effective upon the execution and delivery hereof by all parties to the Administrative Agent and receipt by the Administrative Agent of the following in form and substance satisfactory to the Administrative Agent:

(a)    this Amendment, executed by the Obligors, the Administrative Agent and the Required Lenders; 
(b)    a certificate of an officer and of the secretary or an assistant secretary of each of the Obligors certifying, inter alia, (i) copies of each of the articles or certificate of incorporation or organization, as amended and in effect, of such Obligor, the bylaws or operating agreement or regulations, as amended and in effect, of such Obligor (or a statement that such documents have not changed since April 26, 2011) and the resolutions adopted by the board of directors or managers or members of such Obligor authorizing the execution, delivery and performance by such Obligor of this Amendment and (ii) the incumbency and specimen signatures of the officers of such Obligor executing any documents on its behalf; 
(c)    the payment to the Administrative Agent of all fees and expenses (including the fees and disbursements of Andrews Kurth LLP) and all fees payable to the Lenders in connection with this Amendment; and
(d)    such other consents, approvals, opinions or documents as the Administrative Agent may reasonably request.
		
	9.
	Release and Indemnity.  

(a)    Each of the Obligors hereby releases and forever discharges the Administrative Agent and each of the Lenders and Secured Parties and each affiliate thereof and each of their respective employees, officers, directors, trustees, agents, attorneys, successors, assigns or other representatives from any and all known claims, demands, actions, cross-actions, causes of action, costs and expenses (including legal expenses), of any kind or nature whatsoever, whether 

4

based in law or equity, which any of said parties has held or may now own or hold for or because of any matter or thing done, omitted or suffered to be done on or before the actual date upon which this Amendment is signed by any of such parties (i) arising directly or indirectly out of the Loan Documents, or any other documents, instruments or any other transactions relating thereto and/or (ii) relating directly or indirectly to all transactions by and between the Obligors or their representatives and the Administrative Agent, the Lenders and the Secured Parties or any of their respective directors, officers, agents, employees, attorneys or other representatives.  Such release, waiver, acquittal and discharge shall and does include, without limitation, any claims of usury, fraud, duress, misrepresentation, lender liability, control, exercise of remedies and all similar items and claims which may, or could be, asserted by any of the Obligors.
(b)    Each of the Obligors hereby ratifies the indemnification provisions contained in the Loan Documents, including, without limitation, Section 10.03 of the Credit Agreement, and agrees that this Amendment and any losses, claims, damages and expenses related thereto shall be covered by such indemnities.  
(c)    Each of the Guarantors hereby ratifies and reaffirms its obligations under the Guarantees and confirms that said Guarantees remain in full force and effect notwithstanding the execution of this Amendment.
		
	10.
	Counterparts.  This Amendment may be signed in any number of counterparts, which may be delivered in original, electronic or facsimile form, each of which shall be construed as an original, but all of which shall constitute one and the same instrument.

		
	11.
	Governing Law.  This Amendment, all Notes, the other Loan Documents and all other documents executed in connection herewith shall be deemed to be contracts and agreements under the laws of the State of New York and of the United States of America and for all purposes shall be construed in accordance with, and governed by, the law of New York and of the United States.

		
	12.
	Final Agreement of the Parties.  Any previous agreement among the parties with respect to the subject matter hereof is superseded by the Security Agreement, as amended by this Amendment.  Nothing in this Amendment, express or implied, is intended to confer upon any party other than the parties hereto any rights, remedies, obligations or liabilities under or by reason of this Amendment.

[Remainder of page intentionally left blank; signatures on separate pages]

IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be duly executed by their respective authorized officers as of the day and year first above written.
DEBTORS:    FEI COMPANY,
an Oregon corporation

By:        
Raymond A. Link
Executive Vice President and 
Chief Financial Officer

FEI TECHNOLOGIES INC.,
an Oregon corporation

By:        
Raymond A. Link
President 
		
	ADMINISTRATIVE AGENT
	JPMORGAN CHASE BANK, N.A. 

AND LENDER:

By:        
Name:
Title:

		
	LENDER:
	BANK OF AMERICA, N.A.

By:        
Name:
Title:

		
	LENDER:
	HSBC BANK USA, NATIONAL ASSOCIATION 

By:        
Name:
Title:

		
	LENDER:
	U.S. BANK NATIONAL ASSOCIATION 

By:        
Name:
Title:

		
	LENDER:
	THE ROYAL BANK OF SCOTLAND plc

By:        
Name:
Title:

		
	LENDER:
	WELLS FARGO BANK, NATIONAL ASSOCIATION

By:        
Name:
Title:

5

EXHIBIT 5.01(c)
FORM OF COMPLIANCE CERTIFICATE
The undersigned hereby certifies that [s]he is a Financial Officer of FEI Company, an Oregon corporation (the “Borrower”) and that as such he is authorized to execute this certificate on behalf of the Borrower.  With reference to the Credit Agreement dated June 4, 2008 (together with all amendments or supplements thereto being the “Credit Agreement”), among the Borrower, the Guarantors party thereto, the Lenders party thereto, JPMorgan Chase Bank, N.A., as Administrative Agent for the Lenders and J.P. Morgan Europe Limited, as Alternative Currency Agent for the Lenders, the undersigned represents and warrants as follows (each capitalized term used herein having the same meaning given to it in the Credit Agreement unless otherwise specified):
		
	(a)
	Since the later of the last date of the Credit Agreement or the most recent Compliance Certificate, no change has occurred either in any case or in the aggregate, in the business, financial condition or results of operations, of the Borrower or any of its Subsidiaries which would have a Material Adverse Effect, except as set forth in any notice delivered by the Borrower pursuant to Section 5.02 of the Credit Agreement.

		
	(b)
	The Borrower hereby certifies that no Default has occurred or is continuing, or if a Default has occurred, the details thereof and any action taken or proposed to be taken with respect thereto are specified on Exhibit A attached hereto.

		
	(c)
	There have been no changes in GAAP or the application thereof since the date of the last audited financial statements delivered pursuant to Section 5.01(a) of the Credit Agreement, or if any such change has occurred, the effect such change would have on the financial statements accompanying this certificate is set forth on Exhibit A attached hereto.

		
	(d)
	Calculations for all financial covenants are set forth in the worksheet attached hereto as Exhibit B.

Exhibit 5.01(c)-1

EXECUTED AND DELIVERED this _____ day of _____________________.
BORROWER:

FEI COMPANY

By:        
Name:        
Title:        

Exhibit 5.01(c)-2

EXHIBIT A
DEFAULTS; CHANGES IN GAAP 

Exhibit 5.01(c)-3

EXHIBIT B
FINANCIAL COVENANT CALCULATION WORKSHEET
($ in 000’s)
	
			
	 
	Pro Forma Calculation
	Covenant Requirement

	Interest Coverage Ratio
	x
	>3.0 to 1.0

	Leverage Ratio
	x
	<3.0 to 1.0

	 
	 
	 

	Interest Coverage Ratio:  calculated as of the fiscal quarter ended ______________, 20__
	 
	 

	(i)   Consolidated EBITDA for the four quarter period then ended
	 
	 

	to
	 
	 

	(ii)   actual cash interest paid during such period.
	 
	 

	 
	 
	 

	Leverage Ratio:  calculated as of the fiscal quarter ended ______________, 20__
	 
	 

	(i)   the sum of:
	 
	 

	   (a)   total Funded Indebtedness minus
	 
	 

	   (b)   cash plus those Investments described on Schedule 1.01B to the Disclosure Letter, as amended from time to time with the consent of the Administrative Agent as provided in the Credit Agreement, in excess of $100,000,000
	 
	 

	to
	 
	 

	(ii)   Consolidated Pro Forma EBITDA for the four quarter period then ended.
	 
	 

Exhibit 5.01(c)-4Exhibit 10.1

RECORDING REQUESTED BY,
WHEN RECORDED MAIL TO:

Greer, Herz & Adams, L.L.P.
2525 South Shore Blvd. Suite 203
League City, Texas 77573
Attention:  Katy Dreiss Carmical, Esq.

(Space Above For Recorder's Use)

MODIFICATION AGREEMENT

This Modification Agreement (the “Second Modification”) is made to be effective as of July 1, 2014 (the “Effective Date”) by and between MIRALOMA BORROWER CORPORATION, a Delaware corporation (the “Trustor”) whose address is 3450 East Miraloma Avenue, Anaheim, California 92806, and AMERICAN NATIONAL INSURANCE COMPANY, a Texas insurance company (the “Beneficiary”), whose address is Attn: Mortgage and Real Estate Investments, 2525 South Shore Blvd., Suite 207, League City, Texas 77573,  to evidence their agreement as follows: 

WHEREAS, Trustor executed that certain Deed of Trust, Assignment of Rents and Security Agreement (the “Mortgage”) dated August 10, 2010, recorded with the Official Records of Orange County, California as Instrument No. 2010000406573, covering the property more particular described therein (the “Original Mortgaged Premises”), securing payment of a Promissory Note secured by Mortgage of even date therewith in the original principal amount of $16,800,000.00, executed by Trustor, and payable to the order of Beneficiary, bearing interest as therein provided and being due and payable as therein provided (the “Note”); and

WHEREAS, pursuant to that certain Modification of Deed Of Trust, Assignment of Rents and Security Agreement and Other Agreements And Partial Release dated as of November 13, 2013 and recorded December 6, 2013 as Instrument No. 2013000662281 in the Official Records of Orange County, California (“First Modification”), Trustor and Beneficiary did modify the Mortgage and all other documents which secure, evidence or relate to the Note (collectively, with the Note and the Mortgage, as amended by the First Modification, the “Loan Documents”) to, among other things, modify the description of the Premises encumbered by the Mortgage to the description attached hereto as Exhibit A and made a part hereof (the “Amended Mortgaged Premises”); and

WHEREAS, the Loan Documents, as amended by this Second Modification, are collectively referred to herein as the “Amended Loan Documents”; and

WHEREAS, on December 7, 2011, Beneficiary, Trustor and WELLS FARGO BANK, NATIONAL ASSOCIATION, as collateral agent (in such capacity, together with its successors and assigns, the “Revolving Agent”) for its own benefit and the benefit of certain other credit parties (collectively, with the Revolving Agent, the “Revolving Lenders”), PS HOLDINGS AGENCY CORP., as term agent (in such capacity, together with its successors and assigns, the “Term Agent”, and, together with the Revolving Agent, the “Collateral 

Agents”) for its own benefit and the benefit of certain other credit parties (collectively, with the Term Agent, the “Term Credit Parties”, and, together with the Revolving Lenders, the “Lenders”), PACIFIC SUNWEAR OF CALIFORNIA, INC., a California corporation (“PacSun”), and PACIFIC SUNWEAR STORES CORP., a California corporation (“Stores”) did execute and deliver that certain unrecorded Mortgagee’s Waiver and Collateral Access Agreement (the “Waiver”); and

WHEREAS, the Beneficiary is the owner and holder of the Note and the Mortgage and all other Amended Loan Documents; and

WHEREAS, Trustor desires to increase the principal balance of the Note and to further amend the Mortgage, the Note and the other Loan Documents, and Beneficiary has agreed to such amendments as described herein.

NOW, THEREFORE, for and in consideration of the premises and the mutual covenants and agreements herein contained, the receipt and sufficiency of which are hereby acknowledged, the parties hereto agree as follows:

		
	1.
	Modification of the Note.     The Note is hereby modified as follows:

		
	a.
	Maturity Date. The Maturity Date of the Note is extended to July 1, 2021 (“Extended Maturity Date”). Notwithstanding any contrary provisions of any Amended Loan Document, Trustor shall have no further right to extend the Maturity Date of the Note.

		
	b.
	Additional Advance; Balance of Note; Interest Rate Adjustment; Payment of Note. Trustor and Beneficiary agree that upon the Effective Date the unpaid principal balance of the Note is $15,631,622.66 (“Original Principal Balance”) and interest has been paid through June 30, 2014.  At the request of Trustor, Beneficiary has agreed to increase the principal balance of the Note with an additional advance in the amount of $278,377.34 (“Additional Advance”), which Trustor advises Beneficiary will be applied to fund the payment of fees, commissions and expenses incurred by Beneficiary and Trustor, in connection with this Second Modification, bringing the principal balance on the Note to $15,910,000.00 (“Adjusted Principal Balance”).  In addition, the Contract Rate under the Note shall be modified, as of the date of the disbursement of the Additional Advance (“Disbursement Date”), to the rate of five and twenty-five hundredths percent (5.25%) per annum (the “Adjusted Contract Rate”).  Principal and accrued interest is payable by Trustor to the order of Beneficiary in monthly installments of $93,672.14 each, the first installment to become due and payable on August 1, 2014 and one of said installments to become due and payable on the same day of each and every succeeding calendar month thereafter to the Extended Maturity Date, at which time the entire unpaid principal amount, any interest accrued but remaining unpaid, and all other sums due under the Amended Loan Documents, shall be due and payable.

		
	c.
	No Further Advances. Notwithstanding anything to the contrary in this Modification or any other Amended Loan Document, Trustor and Beneficiary agree that upon the Disbursement Date, the Note shall be fully funded and Trustor shall not be entitled to request or receive any additional advances under the Note, as amended hereby. 

		
	d.
	Paragraph one (1) of the Note shall be amended by adding the following language:

“Trustor acknowledges and agrees that (i) the monthly installment described in this paragraph is based on the Adjusted Contract Rate and (ii) Beneficiary may, 

but is not obligated to, recalculate the monthly installment due under this Note based upon any change in the rate of interest in effect under this Note, including, but not limited to, a change in interest rate resulting from calculation of interest at the Default Rate as provided in this Note.”

		
	e.
	Paragraph nine (9) of the Note shall be deleted in its entirety and replaced with the following:

“This Note shall not be prepayable in whole or in part prior to July 1, 2017 (“Closed Prepayment Period”).  Thereafter, Trustor reserves the privilege of paying this Note in full on any interest payment date; provided, however, that in addition to the principal and accrued interest payable upon any such prepayment, Trustor agrees and promises to pay a premium equal to a percentage of the principal remaining unpaid on the interest payment date next preceding the date of such prepayment according to the following schedule: four percent (4%) during the period commencing July 1, 2017 and ending June 30, 2018; three percent (3%) during the period commencing July 1, 2018 and ending June 30, 2019; two percent (2%) during the period commencing July 1, 2019 and ending June 30, 2020; one percent (1%) during the period commencing July 1, 2020 and ending June 30, 2021, and thereafter until the loan is paid in full; provided that no premium shall be due on payments made within 120 days of the Extended Maturity Date or as a result of the application of insurance or condemnation proceeds to the repayment of the indebtedness due under this Note.  If during the Closed Prepayment Period, an  Event of Default hereunder exists and the Extended Maturity Date is accelerated by Beneficiary, a tender of payment of the amount necessary to satisfy the entire indebtedness evidenced by this Note, as amended, or secured by the Mortgage, as amended, or the other Amended Loan Documents made at any time prior to a foreclosure sale shall be deemed to constitute an attempted evasion by Trustor of the preceding restrictions on the right of prepayment and shall be deemed a voluntary prepayment hereunder, and such payment must therefore include a prepayment fee equal to the lesser of (a) the prepayment fee provided for in this paragraph, or if no fee is provided, 8% on the then outstanding principal balance, or (b) the maximum amount, which when added to all other interest charged, paid or contracted for hereunder, would not exceed the Maximum Nonusurious Rate for this loan.

	
			
	Trustor's Initials:
	/s/ CEG
	 

		
	2.
	Modification of Mortgage and other Loan Documents. The liens, security interests, assignments and other rights evidenced by the Mortgage, as previously amended, and the other Amended Loan Documents, as previously amended, are renewed and extended to secure payment of the Note as amended hereby. 

		
	3.
	Conditions Precedent to Effectiveness. The effectiveness of this Second Modification shall be conditioned upon the receipt of all or verification of the following documents and events upon terms and conditions acceptable to Beneficiary:

		
	a.
	a duly executed original of this Second Modification signed by all parties hereto, with all such signatures being notarized; 

		
	b.
	upon or before the recordation hereof, and as conditions precedent to the effectiveness of this Second Modification,  (a) Trustor shall cause to be issued by First American Title Insurance Company (“Title Company”) to Beneficiary, at Borrowers’ sole cost and expense, the following CLTA endorsements to Beneficiary’s ALTA Extended Coverage Lender’s Policy of Title Insurance insuring the Mortgage issued by Title Company dated August 20, 2010 Policy No. 446233 (the "Lender's Title Policy"): (i) a CLTA endorsement 108.8 in the amount of the Additional Advance; (ii) a CLTA endorsement 110.5, or equivalent,  insuring that the recordation of this Modification will not affect the priority of the lien of the Mortgage and that the Mortgage, as modified by the First Modification and by this Second Modification, remains a lien in first position encumbering the Property; and (iii) such other CLTA endorsements to Lender’s Title Policy as may be reasonably requested by Lender; 

		
	c.
	Trustor shall pay all costs and expenses incurred in connection with the modifications and agreements described herein, including, without limitation, the fees and expenses of Beneficiary's outside legal counsel, title costs and recording and filing fees.

		
	d.
	any and all other documentation as Beneficiary may reasonably require.

		
	4.
	Trustor’s Representations and Warranties. Trustor represents and warrants that Trustor: (i) is fully aware of and clearly understands all of the terms and provisions contained in this Second Modification; (ii) has voluntarily, with full knowledge and without coercion or duress of any kind, entered into this Second Modification; (iii) is not relying on any representation, whether written or oral, express or implied, made by Beneficiary other than as set forth in this Second Modification; (iv) on its own initiative has made proposals to the Beneficiary, the terms of which are reflected by this Second Modification; and (v) has received actual and adequate consideration to enter into this Second Modification.

		
	5.
	Miscellaneous. 

		
	a.
	Except as expressly modified hereby, the provisions of the Amended Loan Documents shall continue in full force and effect, and the Trustor acknowledges and reaffirms its liability to Beneficiary thereunder.  In the event of any inconsistency between this Second Modification and the terms of the Amended Loan Documents, this Second Modification shall govern.

		
	b.
	In case any one or more of the provisions contained in this Second Modification shall for any reason be held to be invalid, illegal or unenforceable in any respect, such invalidity, illegality, or unenforceability shall not affect any other provision hereof, and this Second Modification shall be construed as if such invalid, illegal or unenforceable provision had never been contained herein.

		
	c.
	Beneficiary does not, by its execution of this Second Modification, waive any rights it may have against any person not a party hereto.

		
	d.
	This Second Modification may be executed in multiple counterparts, each of which shall constitute an original instrument, but all of which shall constitute one and the same agreement.

		
	e.
	All headings and captions in this Second Modification are for convenience of reference only and shall not be used in the interpretation of any provisions of this Second Modification.

		
	f.
	Time is of the essence of this Second Modification. 

		
	g.
	Where appropriate, all references to the singular shall include the plural and vice versa and all references to any gender shall include the others.

IN WITNESS WHEREOF, the parties have executed this Modification Agreement on the date first set forth above. 

	
			
	 
	TRUSTOR:

	 
	 

	 
	MIRALOMA BORROWER CORPORATION,

	 
	a Delaware corporation

	 
	 
	 

	

	By:
	/s/ CRAIG E. GOSSELIN

	

	Name:
	CRAIG E. GOSSELIN

	

	Its:
	PRESIDENT

	

	

	

                    
                                            
                        
(See Attached Notary)

	
			
	 
	BENEFICIARY:

	 
	 

	 
	AMERICAN NATIONAL INSURANCE

	 
	COMPANY, a Texas insurance company

	 
	 
	 

	 
	By:
	/s/ ROBERT J. KIRCHNER

	 
	Name:
	ROBERT J. KIRCHNER

	 
	Title:
	VICE PRESIDENT

                

	
		
	THE STATE OF TEXAS
	§

	 
	§

	COUNTY OF GALVESTON
	§

BEFORE me ____________________, a Notary Public, on this day personally appeared ______________________, the _________________ of AMERICAN NATIONAL INSURANCE COMPANY, a Texas insurance company, on behalf of said insurance company, known to me to be the person whose name is subscribed to the foregoing instrument and acknowledged to me that he executed the same for the purposes and consideration therein expressed.

Given under my hand and seal of office on June ___, 2014.

_________________________________ 
NOTARY PUBLIC-STATE OF TEXAS

Exhibit A
(Property Description) 

Real property in the City of Anaheim, County of Orange, State of California, described as follows:

PARCEL A

Parcel 1

PARCEL 1 OF PARCEL MAP NO. 2008-117, RECORDED IN BOOK 364, PAGES 44 THROUGH 48, INCLUSIVE OF PARCEL MAPS, OF THE OFFICIAL RECORDS OF THE OFFICE OF THE COUNTY RECORDER OF SAID COUNTY.

Parcel 2

NON-EXCLUSIVE EASEMENTS FOR UTILITY SERVICES, SURFACE DRAINAGE, ACCESS, INGRESS AND EGRESS AND THOSE OTHER PURPOSES AS MORE PARTICULARLY DESCRIBED AND SET FORTH IN THE DOCUMENT ENTITLED "EASEMENTS AND COVENANTS AGREEMENT" RECORDED NOVEMBER 21, 2008 AS INSTRUMENT NO. 2008000545184 OF OFFICIAL RECORDS AS AMENDED BY THE “FIRST AMENDMENT TO EASEMENTS AND COVENANTS AGREEMENT” RECORDED DECEMBER 6, 2013 AS INSTRUMENT NO. 2013000662280 OF OFFICIAL RECORDS.

PARCEL B

PARCEL 1:

PARCEL 3 OF LOT LINE ADJUSTMENT NO. LLA-0000703 RECORDED NOVEMBER 15, 2013 AS INSTRUMENT NO. 2013000632560 OF OFFICIAL RECORDS OF SAID COUNTY.

PARCEL 2:

NON-EXCLUSIVE EASEMENT FOR UNDERGROUND WATER LINE MORE PARTICULARLY SET FORTH IN THE DOCUMENT ENTITLED "EASEMENT AGREEMENT" RECORDED NOVEMBER 13,1997 AS INSTRUMENT NO. 19970579282 OF OFFICIAL RECORDS.

PARCEL 3:

NON-EXCLUSIVE EASEMENTS FOR ABOVE-GROUND PEDESTRIAN INGRESS AND EGRESS AND UNDERGROUND PEDESTRIAN TUNNEL MORE PARTICULARLY SET FORTH IN THE DOCUMENT ENTITLED "RECIPROCAL EASEMENT AGREEMENT" RECORDED NOVEMBER 13, 1997 AS INSTRUMENT NO. 19970579285 OF OFFICIAL RECORDS.

PARCEL 4:

NON-EXCLUSIVE EASEMENTS FOR UTILITY SERVICES, SURFACE DRAINAGE, ACCESS, INGRESS AND EGRESS AND THOSE OTHER PURPOSES AS MORE PARTICULARLY DESCRIBED AND SET FORTH IN THE DOCUMENT ENTITLED "EASEMENTS AND COVENANTS AGREEMENT" RECORDED NOVEMBER 21, 2008 AS INSTRUMENT NO. 2008000545184 OF OFFICIAL RECORDS . AS AMENDED BY THE “FIRST AMENDMENT TO 

EASEMENTS AND COVENANTS AGREEMENT” RECORDED DECEMBER 6, 2013 AS INSTRUMENT NO. 2013000662280 OF OFFICIAL RECORDS.

PARCEL 5:

NON-EXCLUSIVE EASEMENTS FOR RIGHT OF WAY WITH THE RIGHT OF INGRESS AND EGRESS FOR THE PURPOSE OF INSTALLING, MAINTAINING, REPAIRING AND USING COMMON PARKING AREAS, PARKING STALLS AND DRIVEWAYS AND THOSE OTHER PURPOSES AS MORE PARTICULARLY DESCRIBED AND SET FORTH IN THE DOCUMENT ENTITLED "DECLARATION OF USE RESTRICTIONS" RECORDED JUNE 26, 2003 AS INSTRUMENT NO. 203000750065 OF OFFICIAL RECORDS.

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00232-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00232-of-00352.parquet"}]]