Document:

Filed by Bowne Pure Compliance

Exhibit 10.30

THE SECURITIES REPRESENTED BY THIS CERTIFICATE HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF
1933, AS AMENDED (THE “ACT”). THE SECURITIES MAY NOT BE SOLD, OFFERED FOR SALE OR OTHERWISE
TRANSFERRED OR ASSIGNED IN THE ABSENCE OF AN EFFECTIVE REGISTRATION STATEMENT FOR THE SECURITIES
UNDER SAID ACT, OR AN OPINION OF COUNSEL IN FORM, SUBSTANCE AND SCOPE CUSTOMARY FOR OPINIONS OF
COUNSEL IN COMPARABLE TRANSACTIONS THAT REGISTRATION IS NOT REQUIRED UNDER SAID ACT.

SENIOR SUBORDINATED NOTE

			
	 	 	 
	Denver, Colorado	 	 
	June 4, 2008
	 	$1,000,000

FOR VALUE RECEIVED, ACROSS AMERICA REAL ESTATE CORP., a Colorado corporation (the
“Company”), hereby promises to pay to the order of BOCO INVESTMENTS, LLC, a Colorado
limited liability company or registered assigns (the “Holder”) the sum of One Million
Dollars ($1,000,000) (the “Principal”), or so much thereof as shall have been advanced to
or for the benefit of Company, together with interest on the principal balance outstanding from
time to time, at the close of business on September 2, 2008 (the “Maturity Date”), on the
terms and conditions set forth herein.

Each capitalized term used herein, and not otherwise defined, shall have the meaning ascribed
thereto in the Securities Purchase Agreement dated September 28, 2006 and any amendments thereto
(collectively, the “Purchase Agreement”).

All payments due under this Senior Subordinated Note (the “Note”) shall be made in
lawful money of the United States of America.

1. Interest; Payments

(a) Interest Rate. Subject to Section 1(b) and 1(c), this Note shall bear
interest on the unpaid Principal balance hereof at the rate (the “Interest Rate”)
per annum of six percent (6%).

(b) Default Interest. If an Event of Default has occurred and is continuing, interest
shall accrue on the unpaid Principal balance of this Note at a rate (the “Default Interest
Rate”) equal to the higher of (i) the Interest Rate plus 800 basis points, or (ii) twenty-four
percent (24%) per annum.

(c) Applicable Law. Notwithstanding any provision of this Note, the Purchase
Agreement or any other agreement to the contrary, the Company shall not be required to pay, and
the Holder shall not be permitted to receive, any compensation that constitutes interest under
Applicable Law in excess of the maximum amount of interest permitted by Applicable Law.

 

 

 

(d) Interest. Interest shall commence accruing on the date hereof, shall be computed
on the basis of a 365-day year and the actual number of days elapsed and shall be due at the end of
the term of this Note or upon the partial or complete payoff of this Note, whichever is earlier.
The applicable Interest Rate for each calendar quarter shall be determined as provided in Section
1(a) at the end of the term of this Note or upon the partial or complete payoff of this Note,
whichever is earlier.

(e) Payments. During the term of this Note, any and all proceeds from the sale of the
Company’s land or properties, net of costs of sale and required payments on Senior Debt will
applied to the repayment of this Note in accordance with the terms hereof. All payments shall be
made at such address as the Holder shall hereafter give to the Company by written notice made in
accordance with the provisions of this Note. Whenever any amount expressed to be due by the terms
of this Note is due on any day which is not a Business Day, the same shall instead be due on the
next succeeding day which is a Business Day and, in the case of any interest payment date which is
not the date on which this Note is paid in full, the extension of the due date thereof shall not be
taken into account for purposes of determining the amount of interest due on such date. The
Principal amount of this Note, together with any unpaid interest thereon, shall be due and payable
on the Maturity Date.

(f) Prepayment. The unpaid Principal balance of this Note, together with all accrued
and unpaid interest, may at the Company’s option be prepaid in whole or in part, at any time or
from time to time. Any prepayments hereunder shall be applied first, to all interest accrued but
unpaid at such prepayment date and second, to outstanding Principal amounts.

(g) Advances of Principal. Prior to any advances of Principal under this Note, the
Company shall submit a summary, in a form that is acceptable to the Holder, describing the reason
for the advance on this Note as well as the underlying economics if the advance is for the purposes
of a new real estate project. The Holder reserves the right to approve each advance of Principal
under this Note; provided, however, that such approval shall not be unreasonably withheld.

2. Subordination. The payment of principal and interest on this Note is hereby subordinated
to the Senior Debt and Holder will not ask, demand, sue for, take or receive from the Company, by
setoff or in any other manner, the whole or any part any amount payable with respect to this Note
(whether such amounts represent principal or interest, or obligations which are due or not due,
direct or indirect, absolute or contingent), including, without limitation, the taking of any
negotiable instruments evidencing such debt, nor any security for any of the Note, unless and until
all Senior Debt, whether now existing or hereafter arising, shall have been fully and indefeasibly
paid in full in cash and satisfied and all financing arrangements between the Company and all
holders of the Senior Debt have been terminated; provided, however, that Holder may
receive from the Company scheduled payments of principal and interest with respect to this Note on
an unaccelerated basis so long as no Senior Default has occurred and is continuing or would result
therefrom. If a Senior Default has occurred and is continuing or would result from any scheduled
payment of principal or interest by the Company with respect to this Note, then, until the Senior
Default which has occurred or which would result from such payment has been cured, no payment of
principal or interest shall be deemed due or otherwise payable under this Note.

 

 

 

3. Events of Default. Each of the following events shall be deemed an “Event of
Default”:

(a) The Company fails to pay the Principal hereof or interest thereon when due on this Note,
whether at maturity, upon acceleration or otherwise and where such failure continues for a period
of five (5) days after receipt of written notice from the Holder to the Company and GDBA
Investments, LLLP (“GDBA”) of such failure;

(b) Bankruptcy, insolvency, reorganization or liquidation proceedings or other proceedings for
relief under any bankruptcy law or any law or the relief of debtors shall be instituted by or
against the Company or any subsidiary of the Company, unless such proceeding shall be stayed within
thirty (30) days;

(c) The Company or any subsidiary of the Company shall make an assignment for the benefit of
creditors, or apply for or consent to the appointment of a receiver or trustee for it or for a
substantial part of its property or business, or such a receiver or trustee shall otherwise be

appointed;

(d) Any representation or warranty of the Company made herein or in any agreement, statement
or certificate given in writing pursuant hereto or in connection herewith (including, without
limitation, the Purchase Agreement and the Registration Rights Agreement), shall be false or
misleading in any material respect when made and the breach of which has (or with the passage of
time will have) a material adverse effect on the rights of the Holder with respect to this Note,
or the Purchase Agreement;

(e) Any material failure by the Company to perform or observe any of its covenants contained
in the Purchase Agreement where such failure continues for a period in excess of five (5) days
after written notice from the Holder or actual knowledge of the Company of such failure;

(f) If a final judgment, writ or similar process is entered or filed against the Company or
any subsidiary of the Company or any of its property or other assets in an amount in excess of
$50,000, which is not, within twenty (20) days after the entry thereof, discharged or the execution
thereof stayed pending appeal, or within twenty (20) days after the expiration of such stay, such
judgment is not discharged;

(g) Any default with respect to any other Indebtedness for Borrowed Money or liabilities of
the Company or any of its subsidiaries in any amount in excess of (i) $50,000 individually or in
the aggregate with respect to Indebtedness for Borrowed Money, (ii) $50,000 individually with
respect to liabilities and (iii) $100,000 in the aggregate with respect to liabilities and
Indebtedness for Borrowed Money, provided, that such event shall only constitute an “Event
of Default” where the effect of such default is to permit the holder thereof to accelerate the
maturity of
such Indebtedness for Borrowed Money or liabilities, as the case may be, but only if (x) the holder
elects to exercise such a right to accelerate the maturity of such Indebtedness for Borrowed Money
or liabilities, as the case may be, and (y) where such default continues for a period of fifteen
(15) days after written notice from the Holder or actual knowledge of the Company of such a
default, and provided, further, that a default with respect to liabilities shall
not constitute an “Event of Default” where the Company in good faith objects to the amount or
obligation to pay the applicable liability and makes appropriate reserves for such liability, if
necessary, in accordance with GAAP.

 

 

 

(h) Any liquidation, dissolution or winding up of the Company and its subsidiaries or its
business;

(i) If the Company reports a net loss, beginning January 1, 2008, as determined in accordance
with U.S. generally accepted accounting principles, in excess of (i) $1,000,000 for any calendar
quarter after the date hereof, or (ii) $2,500,000 for any three consecutive calendar quarters after
the date hereof;

(k) Any event, circumstance or conditions exists which could reasonably be expected to result
in a Material Adverse Effect on the Company and its Subsidiaries, provided that the
Holder shall provide thirty (30) days written notice to the Company if it intends to declare an
Event of Default under this paragraph 3(k) and provide the Company with an opportunity to present
evidence satisfactory to the Holder in its sole discretion that such event, circumstance or
condition has been remedied; or

(l) The Company shall fail to maintain the listing of the Common Stock on at least one of the
OTCBB or any equivalent replacement exchange, the Nasdaq Global Select Market, the Nasdaq Global
Market, the Nasdaq Capital Market, the New York Stock Exchange or the American Stock Exchange

4. Consequences of Event of Default

(a) If there shall occur, after the fulfillment of any applicable notice and cure provisions
(if any), any Event of Default specified in sections (b) or (c) of Section 3 hereof, the unpaid
Principal balance of this Note and all accrued interest thereon shall be immediately due and
payable, without presentment, demand, protest or notice of any kind, all of which are expressly
waived.

(b) If there shall occur, after the fulfillment of any applicable notice and cure provisions
(if any), any Event of Default other than those listed in Section 4(a) above, the Holder may, at
its option, by written notice to the Company, declare the entire Principal balance of this Note and
all accrued interest thereon due and payable, and the same shall thereupon become immediately due
and payable without presentment, demand, protest or (except as required hereby) notice of any kind,
all of which are expressly waived.

(c) If an Event of Default shall occur, the Company shall pay the Holder hereof all costs of
collection, including reasonable attorneys’ fees.

 

 

 

5. Definitions

“Applicable Law” means that law in effect from time to time and applicable to this
Note which lawfully permits the contracting, charging, taking, reserving and/or collection of the
highest permissible lawful, non-usurious rate of interest or amount of interest on or in connection
with this Note.

“Business Day” means any day other than a Saturday, Sunday or a day on which
commercial banks in the city of Denver, Colorado are authorized or required by law or executive
order to remain closed.

“Senior Debt” means all indebtedness, obligations and other liabilities of the Company
defined pursuant to that certain Amendment to Senior Subordinated Note dated October 25, 2007, as
amended.

“Senior Default” means any “Default,” “Event of Default” or any condition or event
that (with or without notice, lapse of time, or both) would permit Holders of Senior Debt to
accelerate the maturity of such Senior Debt if that condition or event were not cured or removed
within any applicable grace or cure period set forth therein.

6. Miscellaneous

(a) No failure or delay on the part of the Holder in the exercise of any power, right or
privilege hereunder shall operate as a waiver thereof, nor shall any single or partial exercise of
any such power, right or privilege preclude other or further exercise thereof or of any other
right, power or privileges. All rights and remedies existing hereunder are cumulative to, and not
exclusive of, any rights or remedies otherwise available.

(b) Any notice herein required or permitted to be given shall be in writing and may be
personally served or delivered by courier or sent by United States mail and shall be deemed to have
been given upon receipt if personally served (which shall include telephone line facsimile
transmission) or sent by courier or three (3) days after being deposited in the United States mail,
certified, with postage pre-paid and properly addressed, if sent by mail. For the purposes hereof,
the addresses of the parties for receipt of notice hereunder are:

If to the Company:

Across America Real Estate Corp.

700 17th Street, Suite 1200

Denver, Colorado 80202

Attention: Chief Executive Officer

Telephone: (303) 893-1003

Facsimile: (303) 893-1005

With a copy to:

 

 

 

David Wagner & Associates, P.C.

8400 East Prentice Ave.

Penthouse Suite

Greenwood Village, Colorado 80111

Attention: David J. Wagner, Esq.

Telephone: (303) 793-0304

Facsimile: (303) 409-7650

If to the Holder:

BOCO Investments, LLC

103 West Mountain Ave.

Fort Collins, Colorado 80524

Facsimile: (970) 482-6139

Attention: Chief Executive Officer

With a copy to:

Davis Graham & Stubbs LLP

1550 17th Street, Suite 500

Denver, CO 80202

Attention: Ronald R. Levine II and Brian J. Boonstra

Telephone: (303) 892-9400

Facsimile: (303) 892-7400

If to GDBA:

GDBA Investments, LLLP

1440 Blake Street, Suite 310

Denver, Colorado 80202

Facsimile: (720) 932-9397

Attention: Peter Shepard

With a copy to:

Davis & Ceriani, P.C.

1350 17th Street, Suite 400

Denver, Colorado 80202

Attention: Patrick J. Kanouff

Telephone: (303) 534-9000

Facsimile: (303) 534-4618

(c) This Note and any provision hereof may only be amended by an instrument in writing signed
by the Company and the Holder. The term “Note” and all reference thereto, as used throughout this
instrument, shall mean this instrument as originally executed, or if later amended or supplemented,
then as so amended or supplemented.

 

 

 

(d) This Note shall be binding upon the Company and its successors and assigns, and shall
inure to be the benefit of the Holder and its successors and assigns. Notwithstanding anything in
this Note to the contrary, this Note may be pledged as collateral in connection with a bona fide
margin account or other lending arrangement.

(e) This Note shall be enforced, governed by and construed in accordance with the laws of the
State of Colorado applicable to agreements made and to be performed entirely within such state,
without regard to the principles of conflict of laws. The parties hereto hereby submit to the
exclusive jurisdiction of federal or state courts located in Denver, Colorado with respect to any
dispute arising under this Note. Both parties irrevocably waive the defense of an inconvenient
forum to the maintenance of such suit or proceeding. Both parties further agree that service of
process upon a party mailed to the notice address set forth in this Note by registered first class
mail shall be deemed in every respect effective service of process upon the party in any such suit
or proceeding. Nothing herein shall affect either party’s right to serve process in any other
manner permitted by law. Both parties agree that a final non-appealable judgment in any such suit
or proceeding shall be conclusive and may be enforced in other jurisdictions by suit on such
judgment or in any other lawful manner.

IN WITNESS WHEREOF, Company has caused this Note to be signed in its name by its duly
authorized officer this 4th day of June, 2008

	 	 	 	 	 
	 	ACROSS AMERICA REAL ESTATE CORP.

 	 
	 	By:  	/s/
 	 
	 	 	Name:  	Peter Shepard 	 
	 	 	Title:  	Chief Executive OfficerFiled by Bowne Pure Compliance

Exhibit 10.31

AMENDMENT TO SENIOR SUBORDINATED NOTE

THIS AMENDMENT (the “Amendment”), dated as of this 4th day of June, 2008 by and
between ACROSS AMERICA REAL ESTATE CORP., a Colorado corporation, having an office at 700
Seventeenth Street, Suite 1200, Denver, Colorado 80202 (“Maker”) and GDBA INVESTMENTS, LLLP, a
Colorado limited liability limited partnership, having an office at 1440 Blake Street, Denver,
Colorado 80202 (“Holder”).

WITNESSETH:

WHEREAS, Maker has executed and delivered to Holder a Senior Subordinated Note dated September
28, 2006 (the “Note”) to evidence Maker’s indebtedness to Holder in the principal amount of Three
Million Five Hundred Thousand Dollars ($3,500,000.00); and

WHEREAS, Maker and Holder amended such Senior Subordinated Note (“Amendment No. 1”) on May 7,
2007 to further subordinate the Note to a credit facility to be extended to Maker by United Western
Bank and otherwise modify certain terms and provisions of the Note; and

WHEREAS, Maker and Holder amended such Senior Subordinated Note (“Amendment No. 2”) on August
10, 2007 to waive a negative covenant which listed an “Event of Default” under the Note as a net
loss under GAAP of greater than $1,000,000 in any calendar quarter.

NOW, THEREFORE, in consideration of the premises set forth herein above, and for other good
and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, intending
to be legally bound, the parties hereto do hereby mutually and expressly understand and agree as
follows:

1. Definitions. The definition of the term “Senior Debt” appearing in Section 5,
entitled “Definitions,” of the Note is hereby amended in its entirety to read as follows:

“Senior Debt” means all indebtedness, obligations and other
liabilities of the Company to (i) Vectra Bank Colorado, national
association, pursuant to that certain First Amendment to Credit
Agreement dated August 3, 2006, as amended, (ii) United Western Bank
(“UWB”) pursuant to that certain Credit Agreement dated May 7, 2007
between UWB and Maker, as the same may be amended, modified, restated
or extended from time to time, (iii) BOCO Investments, LLC under that
certain Senior Subordinated Note dated June 4, 2008.

2. Subordination. The words “principal and” appearing in line ten of Section 2,
entitled “Subordination,” of the Note are hereby deleted.

 

 

 

3. Representations and Warranties. Maker hereby represents and warrants, and Holder
hereby acknowledges and agrees, that (a) no default has occurred under the Note, (b) except as
provided herein, the Note has not been modified or amended, and (c) the execution and delivery of
this Agreement has been duly authorized by all necessary action of the parties hereto.

4. Ratification. Except as modified by this Amendment, all of the terms of the Note
are ratified and reaffirmed and remain in full force and effect.

5. Inurement. The terms and conditions of this Amendment shall be binding upon and
shall inure to the benefit of the parties hereto, their successors and assigns.

6. Governing Law. The terms and conditions of this Amendment shall be governed by the
applicable laws of the State of Colorado.

IN WITNESS WHEREOF the parties hereto have each caused this Amendment to be executed by their
respective duly authorized representatives, as of the day and year first above written.

	 	 	 	 	 
	 	 	MAKER:
	 
	 	 	 	 
	 	 	ACROSS AMERICA REAL ESTATE CORP.,

a Colorado corporation
	 
	 	 	 	 
	 

	 	By:
	 	/s/
	 

	 	 	 	 
	 

	 	 	 	Name: Peter Shepard
	 

	 	 	 	Title: Chief Executive Officer
	 
	 	 	 	 
	 	 	HOLDER:
	 
	 	 	 	 
	 	 	GDBA INVESTMENTS, LLLP,

a Colorado limited liability limited partnership
	 
	 	 	 	 
	 

	 	By:
	 	/s/
	 

	 	 	 	 
	 

	 	 	 	Name: G. Brent Backman
	 

	 	 	 	Title: Manager

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