Document:

EX-10.1

MODIFICATION TO CONSTRUCTION LOAN AGREEMENT AND OTHER LOAN DOCUMENTS

THIS MODIFICATION TO CONSTRUCTION LOAN AGREEMENT AND OTHER LOAN DOCUMENTS (the
“Modification Agreement”) effective as of November 16, 2012 is made by and among HF
LOGISTICS-SKX T1, LLC, a Delaware limited liability company (“Borrower”), BANK OF AMERICA,
N.A. (“Bank of America”) as Administrative Agent, for itself as a Lender and each Lender
from time to time a party to the Agreement as defined herein (each individually, a “Lender”
and collectively, the “Lenders”), RAYMOND JAMES BANK, N.A. (formerly known as Raymond
James Bank, FSB) (“Raymond James” and collectively with Bank of America, sometimes referred
to herein as the “Original Lenders”) as a Lender, and ONEWEST BANK, FSB,
(“OneWest”) as a Lender who agree as follows:

RECITALS

A. Borrower, Bank of America as Administrative Agent, on behalf of itself as a Lender and the
other Lenders, and Raymond James as a Lender entered into that certain Construction Loan Agreement
dated as of April 30, 2010 as amended by the Letter Agreement dated June 11, 2010, Letter Agreement
dated July 15, 2010, Letter Agreement dated September 2, 2010, and Letter Agreement dated May 9,
2012, and as further amended by Loan Extension Agreement effective as of October 30, 2012 (the
“Loan Extension Agreement”) each by and among Borrower, Bank of America as Administrative
Agent and as a Lender and Raymond James as a Lender (collectively, the “Original Loan
Agreement”) pursuant to which Original Lenders agreed to make a loan to Borrower in the amount
of $55,000,000 (the “Original Loan”). Capitalized terms not defined herein shall have the
meanings for such terms as set forth in the Original Loan Agreement.

B. The Original Loan is evidenced by the following two promissory notes: (i) Promissory Note
dated April 30, 2010 in the amount of $27,500,000 made and delivered by Borrower in favor Bank of
America, N.A., (the “Original Bank of America Note”); and (ii) Promissory Note dated April
30, 2010 in the amount of $27,500,000 made and delivered by Borrower in favor of Raymond James
Bank, FSB (the “Original Raymond James Note” and collectively with the Original Bank of
America Note, the “Original Notes”).

C. The Original Notes are secured by, among other things, a Construction Deed of Trust,
Assignment of Rents and Leases, Security Agreement and Fixture Filing dated as of April 30, 2010
executed by Borrower as trustor in favor of PRLAP, Inc. as trustee for the benefit of the
Administrative Agent on behalf of the Original Lenders and such other Lenders from time to time a
party to the Original Loan Agreement and recorded on May 4, 2010 as Document No. 2010-0204347 in
the Official Records of Riverside County, California as modified by Modification of Deed of Trust
and Other Loan Documents dated September 22, 2010 executed by and between Borrower, Administrative
Agent and the Original Lenders and recorded on September 22, 2010 as Document No. 2010-0453055 in
the Official Records of Riverside County, California (collectively the “Original Deed of
Trust”) and which encumbers the property described therein (the “Property”).

D. Repayment of the indebtedness of the Borrower to the Lenders is also secured by a Security
Agreement (Certificate of Deposit Account at Bank of America, N.A.) dated April 30, 2010 executed
by Borrower in favor of Bank of America, N.A. as Administrative Agent on behalf of the Lenders
pursuant to which Borrower granted to Administrative Agent on behalf of the Lenders a security
interest in a deposit account described therein.

E. Additional security interests granted by the Borrower in favor of the Lenders in connection
with the Original Loan are also evidenced by (i) UCC-1 Financing Statement recorded on May 4, 2010
as Document No. 2010-0204348 in the Official Records of Riverside County, California as amended by
UCC Financing Statement Amendment recorded on September 22, 2010 as Document No. 2010-0453056 in
the Official Records of Riverside County, California; and (ii) UCC-1 Financing Statement filed on
May 5, 2010 as Filing No. 2010 1578305 with the Secretary of State of the State of Delaware as
amended by UCC Financing Statement Amendment filed on October 14, 2010 as Filing No. 2010 3593567
with the Secretary of State of the State of Delaware.

F. The Original Loan is guaranteed by each of TG Development Corp., a Delaware corporation,
Trans LP Holdings, LLC, a Delaware limited liability company, Boca Ocean Holdings, LLC, a Delaware
limited liability company, T/CAL Holdings, LLC, a Delaware limited liability company, and Island
Boulevard Holdings, LLC, a Delaware limited liability company (each a “Guarantor” and
collectively, the “Guarantors”) pursuant to a Guaranty Agreement dated as of April 30, 2010
executed by the Guarantors in favor of the Administrative Agent and the Lenders (the “Original
Guaranty”).

G. The proceeds of the Original Loan have been used by Borrower for the construction of the
Improvements. The Original Loan has been fully funded as of the date hereof and the Improvements
have been completed and a certificate of occupancy for the Improvements was issued by the City of
Moreno Valley, California on April 30, 2012.

H. Pursuant to Borrower’s election to extend the Maturity Date as provided in the Original
Loan Agreement and the terms and conditions of the Loan Extension Agreement, the current maturity
date of the Original Loan is November 29, 2012.

I. Borrower has now requested the following: (i) a future advance loan in the amount of
Twenty Five Million Dollars Four Hundred Twenty Nine Thousand Dollars ($25,429,000) (the
“Future Advance Loan”) to be secured by the Original Deed of Trust and other documents
securing the Original Loan and which shall increase the total amount of Borrower’s aggregate
principal indebtedness to the Lenders to Eighty Million Dollars ($80,000,000.00); and (ii) a three
(3) year extension to the Original Loan as increased by the Future Advance Loan.

J. The Future Advance Loan is being funded by new loan proceeds from each of Bank of America
(as to $5,429,000) and OneWest (as to $20,000,000) who upon the funding of the Future Advance Loan,
shall become a Lender under the Loan Agreement and the other Loan Documents for all purposes set
forth therein. Bank of America is also acquiring from Raymond James a total of $7,285,500 of
Borrower’s indebtedness to Raymond James and each Lender’s pro rata shares of the Loan shall be
restated herein.

K. The Administrative Agent and the Lenders have agreed to such requested modifications
subject to the terms and conditions contained in this Modification Agreement and the terms and
conditions of all other agreements and documents required by the Administrative Agent and the
Lenders and executed by Borrower in connection with this Modification Agreement (collectively, the
“Loan Modification Documents”) including without limitation a (i) Second Modification to
Deed of Trust executed by Borrower, Administrative Agent and the Lenders which, among other things,
increases the principal balance secured by the Original Deed of Trust to $80,000,000; and (ii) an
Amended and Restated Guaranty Agreement executed by the Guarantors in favor of Administrative Agent
and the Lenders which amends and restates the Original Guaranty in its entirety.

NOW THEREFORE, for and in consideration of the sum of Ten Dollars ($10.00), the mutual
premises set forth herein, and other good and valuable consideration, the receipt and sufficiency
of which is hereby acknowledged, the parties hereby agree as follows:

1. Recitals. The foregoing recitals are true and correct and are incorporated herein
as if set forth in full.

2. OneWest a Lender. The parties hereto acknowledge and agree that effective as of
the date hereof, OneWest is a party to the Loan Agreement, a Lender thereunder, and a Lender under
all of the other Loan Documents.

3. Construction Advances. Borrower hereby represents and warrants that all
construction contemplated by the Original Loan Agreement has been completed in full (subject to
punchlist items) and acknowledges and agrees that Administrative Agent, the Original Lenders, and
the L/C Issuer, have fully performed and satisfied all of their obligations relating to the making
of construction advances under the Original Loan Agreement and all of their other obligations
relating to the construction of the Improvements contemplated by the Original Loan Agreement as set
forth therein. Borrower agrees that Lenders have no further obligations to make any advances of
loan proceeds (other than the advance of the Future Advance Loan subject to the terms of this
Modification Agreement and the other Loan Modification Documents). Borrower hereby acknowledges
and agrees that the L/C Issuer has no further obligation to provide Borrower with any Letter of
Credit, cash bond or other similar extensions of credit arising under the Original Loan Agreement.

4. Modification to Interest Rate. Sections 1.7(a) and 1.7(b) of the Original Loan
Agreement are hereby deleted in their entirety and are replaced by the following new Sections
1.7(a) and 1.7(b):

“(a) The unpaid principal balance of this Loan from day to day outstanding which is not past
due, shall bear interest at a fluctuating rate of interest equal to the BBA LIBOR Daily Floating
Rate for that day plus THREE HUNDRED SEVENTY FIVE (375) basis points, until default (the
“Applicable Rate”). The “BBA LIBOR Daily Floating Rate” shall mean a fluctuating
rate of interest equal to the British Bankers Association LIBOR Rate (“BBA LIBOR”), as
published by Reuters (or other commercially available source providing quotations of BBA LIBOR as
selected by Administrative Agent from time to time) as determined for each Business Day at
approximately 11:00 a.m. London time two (2) London Banking Days prior to the date in question, for
U.S. Dollar deposits (for delivery on the first day of such interest period) with a one month term,
as adjusted from time to time in Administrative Agent’s sole discretion for reserve requirements,
deposit insurance assessment rates and other regulatory costs. If such rate is not available at
such time for any reason, then the rate will be determined by such alternative method as reasonably
selected by Administrative Agent. A “London Banking Day” is a day on which banks in London
are open for business and dealing in offshore dollars. Interest shall be computed for the actual
number of days which have elapsed, on the basis of a 360-day year.

(b) Alternative Rates. Administrative Agent may notify Borrower if the BBA LIBOR
Daily Floating Rate is not available for any reason, or if Administrative Agent determines that no
adequate basis exists for determining the BBA LIBOR Daily Floating Rate, or that the BBA LIBOR
Daily Floating Rate will not adequately and fairly reflect the cost to Lenders of funding the Loan,
or that any applicable law or regulation or compliance therewith by any Lender prohibits or
restricts or makes impossible the charging of interest based on the BBA LIBOR Daily Floating Rate.
If Administrative Agent so notifies Borrower, then interest shall accrue and be payable on the
unpaid principal balance of the Loan at a fluctuating rate of interest equal to the Prime Rate of
Administrative Agent plus one hundred (100) basis points per annum, from the date of such
notification by Administrative Agent until Administrative Agent notifies Borrower that the
circumstances giving rise to such suspension no longer exist, or until the Maturity Date of the
Loan (whether by acceleration, declaration, extension or otherwise), whichever is earlier to occur.
The term “Prime Rate” means, on any day, the rate of interest per annum then most recently
established by Administrative Agent as its “prime rate.” Any such rate is a general reference rate
of interest, may not be related to any other rate, and may not be the lowest or best rate actually
charged by Administrative Agent to any customer or a favored rate and may not correspond with
future increases or decreases in interest rates charged by other lenders or market rates in
general, and Administrative Agent may make various business or other loans at rates of interest
having no relationship to such rate. Any change in the Prime Rate shall take effect at the opening
of business on the day specified in the public announcement of a change in Administrative Agent’s
Prime Rate. If Administrative Agent (including any subsequent Administrative Agent) ceases to
exist or to establish or publish a prime rate from which the Prime Rate is then determined, the
applicable variable rate from which the Prime Rate is determined thereafter shall be instead the
prime rate reported in The Wall Street Journal (or the average prime rate if a high and a
low prime rate are therein reported), and the Prime Rate shall change without notice with each
change in such prime rate as of the date such change is reported.”

5. Modification to Payment Schedule and Maturity Date. Sections 1.13.1 and 1.13.2 of
the Original Loan Agreement are hereby deleted in their entirety and are replaced by the following
new Sections 1.13.1 and 1.13.2:

“1.13.1 Commencing on December 15, 2012, and continuing monthly thereafter on the same day of
each succeeding month until all principal and accrued interest owing on the Loan shall have been
fully paid and satisfied, Borrower shall make payments of accrued and unpaid interest.”

1.13.2 Commencing on December 15, 2012 and continuing monthly thereafter on the same day of
each succeeding month until all principal and accrued and unpaid interest owing on the Loan shall
have been fully paid and satisfied, Borrower shall make principal payments in the amount of Eighty
Four Thousand and No/100 Dollars ($84,000); provided, that on the Maturity Date the entire
principal balance of the Loan then unpaid and all accrued interest then unpaid shall be finally due
and payable.”

6. TG Development Net Worth Requirement. Section 2.17 of the Original Loan Agreement
is hereby deleted in its entirety and is replaced by the following new Section 2.17:

“2.17 TG Development Financial Requirements. Borrower agrees that until all of the
Obligations are paid in full, it shall be a Default hereunder (subject to the notice and cure
provisions contained in Section 4.1(b) of this Agreement) if TG Development fails to maintain a
minimum book net worth (which shall be defined as total assets minus total liabilities, without
deduction for minority interests owned), of One Hundred Fifty Million and No/100 Dollars
($150,000,000.00) which shall be tested by Administrative Agent at the end of each calendar quarter
during the term of the Loan. It is acknowledged that a component of TG Development’s book net
worth is derived from its indirect ownership, through one or more subsidiaries, of certain unsold
residential condominium inventory (the “Condominium Inventory”). In connection with its
testing of TG Development’s book net worth, Administrative Agent, in its sole discretion, shall
have the right to obtain updated appraisals of the Condominium Inventory prepared by appraisers
selected by Administrative Agent (at Borrower’s expense with respect to one such appraisal each
year, or for all such appraisals if a Default should occur). Further, Borrower covenants and
agrees that it shall be a Default hereunder (subject to the notice and cure provisions contained in
Section 4.1(b) of this Agreement) if (a) TG Development incurs contingent liability in an aggregate
amount exceeding Two Hundred Fifty Million and No/100 Dollars ($250,000,000), inclusive of
contingent liability incurred by TG Development in connection with a loan made to LPLA Partners, LP
with respect to the “Mansions at Acqualina” project, without the prior written consent of the
Required Lenders which consent Required Lenders may withhold in their sole and absolute discretion;
provided, however, that any guaranties of liabilities of subsidiaries of TG Development which are
taken into account when computing the book net worth (by reductions to book net worth in amounts
equal to the amounts of such guarantied liabilities), as provided above, shall be permitted and
shall be excluded from the aforesaid limit on contingent liabilities; provided further that there
shall be no restriction on contingent liability incurred by TG Development in connection with any
loan made for the acquisition or development of income producing commercial real estate; or (b) TG
Development transfers any of its assets (which, for clarification, excludes distributions of cash
or cash dividends made to the shareholders of TG Development in compliance with all applicable
laws) without the prior written consent of Required Lenders in their sole and absolute discretion,
except (i) in the ordinary course of business for fair value; or (ii) to any unrelated third party
for fair and reasonably equivalent value; or (iii) to an entity that is wholly owned, directly or
indirectly, by TG Development.

7. Default.

	 	a.	 	Section 4.1(t) of the Original Loan Agreement is hereby deleted
and replaced with the following:

“(t) the occurrence of a Default under Section 2.17 of this Agreement;”

	 	b.	 	Section 4.1(q) is hereby deleted and replaced with the
following:

“(q) Skechers or any Tenant Affiliate (as such term is defined in Section 17 of
the Lease as in effect on November   , 2012), at any time, is not in sole
possession of one hundred percent (100%) of the Property pursuant to the Lease;”

8. Administrative Agent.

	 	a.	 	Section 5.10(a)(iii) of the Original Loan Agreement is hereby
deleted and replaced with the following:

“(iii) after foreclosure or other acquisition of title if approved by the
Required Lenders.”

	 	b.	 	A new Section 5.10(e) is hereby added to the Original Loan
Agreement as follows:

“(e) Notwithstanding anything to the contrary contained in the Agreement, the
Deposit Account Security Agreement, or in any of the other Loan Documents,
Borrower shall not be permitted to withdraw any funds from the CD Account
without the consent of the Required Lenders.”

9. Legal Description. Exhibit “A” of the Original Loan Agreement is hereby deleted
and replaced with Exhibit “A” attached to this Modification Agreement.

10. Amended Definitions. The following definitions of the terms set forth below
replace in their entirety the definitions for such terms as are contained in Exhibit B of the
Original Loan Agreement (such prior definitions being hereby deleted):

a. “Agreement” means, collectively, that certain Construction Loan Agreement
dated as of April 30, 2010 by and among Borrower, Bank of America, N.A, as Administrative
Agent on behalf of the Lenders, and the Original Lenders, as amended by Letter Agreement
dated June 11, 2010, Letter Agreement dated July 15, 2010, Letter Agreement dated September
2, 2010, and Letter Agreement dated May 9, 2012 and as further amended by Loan Extension
Agreement effective as of October 30, 2012, each by and among Borrower, Administrative Agent
on behalf of the Lenders, and Original Lenders, and as further amended by this Modification
Agreement and as may be further amended, modified, restated, replaced and supplemented from
time to time.

b. “Lease” means, collectively, that certain Lease Agreement dated September
25, 2007 by and between HF Logistics I, LLC, a Delaware limited liability company (the
“Original Landlord”), as landlord, and Skechers U.S.A., Inc., a Delaware corporation
(“Skechers”), as tenant, for the lease of the Improvements constructed by Borrower
in accordance with the terms and provisions of this Agreement, as modified by that certain
Amendment to Lease Agreement dated December 18, 2009 by and between Original Landlord and
Skechers, as assigned to Borrower pursuant to that certain Assignment of Lease (Skechers
Lease) dated April 12, 2010 executed by and between Original Landlord and Borrower, as
further modified by that certain Second Amendment to Lease Agreement dated April 12, 2010
executed by and between Borrower and Skechers, and as further modified by Third Amendment to
Lease Agreement dated August 18, 2010 executed by and between Borrower and Skechers.

c. “Loan” means the loan by Lenders to Borrower, in the aggregate principal
amount of Eighty Million Dollars ($80,000,000.00), consisting of the current outstanding
principal of the Original Loan as increased by the Future Advance Loan.

d. “Loan Documents” means, collectively, the Agreement (including all
exhibits), the Mortgage, any Note, the Environmental Agreement, any guaranty, financing
statements, the Budget, each Draw Request, any and all documents, instruments or agreements
executed and delivered to evidence, secure or in connection with all Letters of Credit, all
Loan Modification Documents, and such other documents evidencing, securing or pertaining to
the Loan as shall, from time to time, be executed and/or delivered by Borrower, each of the
Guarantors, or any other party to Administrative Agent or any Lender pursuant to this
Agreement, as they may be amended, modified, restated, replaced and supplemented from time
to time.

e. “Maturity Date” means October 30, 2015 or such earlier date as provided in
accordance with the terms hereof.

f. “Mortgage” means, collectively, the Construction Deed of Trust, Assignment
of Rents and Leases, Security Agreement and Fixture Filing dated as of April 30, 2010
executed by Borrower, as trustor, in favor of PRLAP, Inc., as trustee, for the benefit of
Bank of America, N.A., as Administrative Agent for itself as a Lender and for other Lenders
from time to time a party to the Agreement, and recorded on May 4, 2010 as Document No.
2010-0204347 in the Official Records of Riverside County, California as modified by
Modification of Deed of Trust and Other Loan Documents dated September 22, 2010 executed by
and between Borrower, Administrative Agent and the Original Lenders and recorded on
September 22, 2010 as Document No. 2010-0453055 in the Official Records of Riverside County,
California and as further modified by a Second Modification to Deed of Trust dated as of
November 16, 2012 by and between Borrower, the Administrative Agent and the Lenders which
shall be recorded in the Official Records of Riverside County, California, securing
repayment of the Indebtedness and Borrower’s performance of its other obligations to
Administrative Agent and Lenders under the Loan Documents, as amended, modified,
supplemented, restated and replaced from time to time.

g. “Notes” means, collectively (and “Note” means any one of) (1) that
certain Amended and Restated Increased Renewal Promissory Note in the principal amount of
Forty Million Dollars ($40,000,000) dated as of November 16, 2012 executed by Borrower and
payable to the order of Bank of America, N.A.; (2) that certain Amended and Restated Reduced
Renewal Promissory Note in the amount of Twenty Million Dollars ($20,000,000) dated as of
November 16, 2012 executed by Borrower and payable to the order of Raymond James Bank, N.A.;
and (3) that certain Promissory Note in the amount of Twenty Million Dollars ($20,000,000)
dated as of November 16, 2012 executed by Borrower and payable to the order of OneWest Bank,
FSB, as each of (1), (2) and (3) may be amended, modified, replaced, restated, increased,
extended or renewed from time to time.

11. Additional Definitions. The following definitions are hereby added to Exhibit “B”
of the Original Loan Agreement:

a. “CD Account” means that certain deposit account established by Borrower and
maintained at Bank of America, N.A. in which Borrower has granted a security interest to
Administrative Agent on behalf of the Lenders as described in, and pursuant to, the Deposit
Account Security Agreement.”

b. “Deposit Account Security Agreement” means that certain Security Agreement
(Certificate of Deposit Account at Bank of America, N.A.) dated April 30, 2010 executed by
Borrower in favor of Administrative Agent on behalf of the Lenders, pursuant to which
Borrower has granted to Administrative Agent, on behalf of the Lenders, a security interest
in the CD Account.”

12. Financial Statements.

a. Section 2(b) of Exhibit “B” of the Original Loan Agreement is hereby deleted.

b. Section 2(c) of Exhibit “B” of the Original Loan Agreement is hereby deleted and
replaced with the following new Section 2(c):

“(c) Financial Statements of TG Development which are consolidated and consolidating
and which include each of the other parties identified as a Guarantor herein all certified
by the chief financial officer of TG Development (i) for each fiscal year as soon as
reasonably practicable and in any event within ninety (90) days after the close of each
fiscal year; and (ii) for each calendar quarter as soon as reasonably practicable and in any
event within forty-five (45) days after the end of each calendar quarter (other than the
last quarter of each fiscal year); provided that annual statements of cash flow and amounts
and sources of contingent liabilities shall only be provided annually.”

c. Section 2(e) of Exhibit “B” of the Original Loan Agreement is hereby deleted and
replaced with the following new Section 2(e):

“(e) (1) Copies of filed federal and state income tax returns of Borrower for each
taxable year, within thirty (30) days after filing but in any event not later than one
hundred twenty (120) days after the close of each such taxable year. Notwithstanding the
foregoing, in the event Borrower timely files for an extension for the filing of a federal
or state income tax return and provides Administrative Agent with a copy of the extension
filing within thirty (30) days of filing same, a copy of the return shall be provided to
Administrative Agent within thirty (30) days after the filing of such return but in any
event not later than the expiration of the applicable extension period.

(2) Copies of: (i) IRS Form 1120 (“U.S. Corporation Income Tax Return”) in the name of
TG Development for each taxable year within thirty (30) days after the filing of the federal
tax return of Transatlantic Group, Ltd., a Delaware corporation (“Transatlantic”)
or, in the event TG Development’s tax information is included in the federal tax return of
another person or legal entity, within thirty (30) days after the filing of such other
person or legal entity’s federal tax return (Transatlantic, or such other person or legal
entity (as applicable), being herein referred to as the “Parent Company”) but in any
event no later than one hundred twenty (120) days after the close of such taxable year; and
(ii) in the event that the Parent Company is also required to file a state income tax
return, any state tax return form that is substantially similar in purpose to IRS Form 1120
within thirty (30) days of filing of the state tax return of the Parent Company but in any
event not later than one hundred twenty (120) days after the close of such taxable year.
Notwithstanding the foregoing, if the Parent Company timely files for an extension for the
filing of a federal tax return (or a state income tax return as applicable) and Borrower
provides, or causes to be provided, to Administrative Agent a copy of IRS Form 7004
(“Application for Automatic Extension to File Certain Business Income Tax, Information, and
Other Returns”) in the name of Parent Company and any state income tax return extension form
(as applicable) within thirty (30) days of filing, then copies of the documents required in
subsection (i) above shall be provided to Administrative Agent within thirty (30) days after
filing of such return but in any event not later than the expiration of the applicable
extension period. The documents Borrower is required to provide, or cause to be provided, to
Administrative Agent pursuant to this Section 2(e)(2) are hereinafter referred to as the
“Required Tax Return Documents”.

(3) Notwithstanding anything in Section 2(e)(2) to the contrary, in the event TG
Development files its own federal and state tax returns, Borrower shall provide, or cause to
be provided, to Administrative Agent, in lieu of the documents described in Section 2(e)(2),
copies of TG Development’s federal and state tax returns within thirty (30) days of filing,
provided that in the event that TG Development timely files for an extension for the filing
of a federal or state income tax return and provides Administrative Agent with a copy of the
extension filing within thirty (30) days of filing same, a copy of the return shall be
provided to Administrative Agent within thirty (30) days of filing such return but in any
event not later than the expiration of the applicable extension period.”

d. The following sentence is added to the end of Section 2 of Exhibit “B” of the
Original Loan Agreement: “Provided that the form of Financial Statements and any Required
Tax Return Documents delivered by Borrower (or caused to be delivered by Borrower) to
Administrative Agent pursuant to this Section 2 are substantially consistent with the forms
of Financial Statements and Required Tax Return Documents that have previously provided by
Borrower (or caused to be provided by Borrower) to Administrative Agent during the term of
the Loan, the form of such Financial Statements and Required Tax Return Documents shall be
satisfactory to Administrative Agent.”

e. Section 2(f) of Exhibit “B” of the Original Loan Agreement is hereby deleted and
replaced with the following new Section 2(f):

“(f) From time to time, promptly after Administrative Agent’s request, such additional
information, reports and statements respecting the Property, The Improvements, or the
business operations, financial condition, and tax return information of each reporting
party, as Administrative Agent may reasonably request.”

13. Leasing and Tenant Matters. The final sentence of Section 7 of Exhibit I of the
Original Loan Agreement is hereby deleted and replaced with the following: “Further Borrower
shall not modify any terms or provisions of the Lease without prior written consent of the Required
Lenders, which consent shall be in the Required Lenders’ sole and absolute discretion.”

14. Schedule of Lenders and other Parties. Exhibit “N” of the Original Loan
Agreement is hereby deleted and replaced with Exhibit “N” attached to this Modification Agreement.

15. No Right To Further Extension of Maturity. Borrower acknowledges and agrees that
it has previously exercised its one-time right to extend the Maturity Date provided in Section
1.13.3 of the Loan Agreement and that Borrower has no additional right to extend the maturity of
the Loan.

16. Commercial Purpose. Borrower warrants that the Future Advance Loan is being made
solely to acquire or carry on a business or commercial enterprise, and/or Borrower is a business or
commercial organization. Borrower further warrants that all of the proceeds of the Future Advance
Loan shall be used for commercial purposes and stipulates that the Future Advance Loan shall be
construed for all purposes as a commercial loan, and is made for other than personal, family,
household or agricultural purposes.

17. Expenses. Borrower shall pay all recording costs and title insurance premiums
charged incurred in connection with the Loan Modification Documents, together with the reasonable
fees and costs of Lenders’ counsel.

18. Borrower’s Representations and Warranties. The Borrower hereby reaffirms all of
the representations and warranties set forth in the Loan Documents, and further represents and
warrants that (a) the Borrower is the sole legal and beneficial owner of the Property; (b) the
execution and delivery of this Modification Agreement do not contravene, result in a breach of, or
constitute a default under, any mortgage, loan agreement, indenture or other contract or agreement
to which the Borrower is a party or by which the Borrower or any of its properties may be bound
(nor would such execution and delivery constitute such a default with the passage of time or the
giving of notice or both), and do not violate or contravene any law, order, decree, rule,
regulation or restriction to which the Borrower or the Property is subject; (c) this Modification
Agreement constitutes the legal, valid and binding obligations of the Borrower enforceable in
accordance with its terms; (d) the execution and delivery of, and performance under, this Agreement
are within the Borrower’s power and authority without the joinder or consent of any other party and
have been duly authorized by all requisite action, and are not in contravention of any law, or of
Borrower’s articles of organization or operating agreement, or of any indenture, agreement or
undertaking to which Borrower is a party or by which it is bound; (e) there exists no uncured
default by Borrower or Guarantors under the Notes or any of the other Loan Documents; (f) there are
no offsets, claims, counterclaims, cross-claims or defenses with respect to the Obligations; and
(g) Borrower is duly organized and legally existing under the laws of the State of Delaware and
qualified to do business in the State of California. The Borrower further represents and warrants
that, except as disclosed to Administrative Agent in writing, there is no suit, judicial or
administrative action, claim, investigation, inquiry, proceeding or demand pending (or, to the
Borrower’s knowledge, threatened) against (i) the Borrower, or against any other person liable
directly or indirectly for the Obligations, or (ii) which affects the Property or the Borrower’s
title to the Property, or (iii) which affects the validity, enforceability or priority of any of
the Loan Documents. The Borrower agrees to indemnify and hold the Administrative Agent and all
Lenders harmless against any loss, claim, damage, liability or expense (including, without
limitation, attorneys’ fees) incurred as a result of any representation or warranty made by the
Borrower herein which proves to be untrue or inaccurate in any respect, and any such occurrence
shall constitute a default under the Loan Documents.

19. Release. The Borrower and the Guarantors, for themselves and for each of their
respective heirs, personal representatives, successors and assigns, hereby release and waive all
claims and/or defenses they now or hereafter may have against the Administrative Agent and the
Lenders, their successors and assigns on account of any occurrence relating to the Loan, the Loan
Documents and/or the Property which accrued prior to the date hereof, including, but not limited
to, any claim that the Lenders (or any of them) (a) breached any obligation to the Borrower and/or
the Guarantors in connection with the Loan, (b) was or is in any way involved with the Borrower
and/or the Guarantors as a partner, joint venturer, or in any other capacity whatsoever other than
as a lender, (c) failed to fund any portion of the Loan or any other sums as required under any
document or agreement in reference thereto, or (d) failed to timely respond to any offers to cure
any defaults under any document or agreement executed by the Borrower, the Guarantors or any third
party or parties in favor of the Administrative Agent and/or the Lenders (or any of them). This
release and waiver shall be effective as of the date of this Agreement and shall be binding upon
the Borrower and the Guarantors and each of their respective heirs, personal representatives,
successors and assigns, and shall inure to the benefit of the Lender and its successors and
assigns. The term “Administrative Agent” and “Lenders” as used herein shall include, but shall not
be limited to, the present and former officers, directors, employees, agents and attorneys of
Administrative Agent and each of the Lenders.

20. Attorneys Fees. The parties hereto agree that if in connection with the
enforcement of any of the terms and conditions thereof or the pursing of any remedies thereunder an
award of attorneys’ fees is provided as a remedy in any of the Loan Documents, such award of
attorneys’ fees shall include without limitation reasonable attorneys’ fees incurred out of court,
in trial, on appeal, in bankruptcy or otherwise.

21. Course of Dealing. Administrative Agent, Lenders and Borrower hereby acknowledge
and agree that at no time shall any prior or subsequent course of conduct by Borrower or
Administrative Agent or Lenders directly or indirectly limit, impair or otherwise adversely affect
any of the rights, interests or remedies of Administrative Agent and/or Lenders in connection with
the Loan and the Loan Documents or obligate Administrative Agent and/or Lenders to agree to, or to
negotiate or consider an agreement to, any waiver of any obligation or default by Borrower under
any of the Loan Documents or any amendment to any term or condition of any of the Loan Documents.

22. Renewal; Lien Continuation; No Novation. The Borrower hereby renews the
Obligations and promises to pay and perform all Obligations as modified by this Modification
Agreement. All security interests in favor of the Administrative Agent and the Lenders created by
the Loan Documents are hereby ratified and confirmed as valid, subsisting and continuing to secure
the Obligations, as modified hereby. Nothing herein shall in any manner diminish, impair, waive or
extinguish the Notes, the Obligations or such security interests. The execution and delivery of
this Modification Agreement shall not constitute a novation of the debt evidenced and secured by
the Loan Documents.

23. Default. A default under this Modification Agreement or any of the other Loan
Modification Documents shall constitute a default under the Notes and other Loan Documents.

24. Amendment to Other Loan Documents. To the extent any of the Loan Documents have
not been specifically modified by any of the Loan Modification Documents (any and all such
documents collectively, the “Ancillary Loan Documents”), such Ancillary Loan Documents are
hereby amended by incorporating the defined terms set forth in Section 10 of this Modification
Agreement to the extent applicable in each such Ancillary Loan Document.

25. Miscellaneous. To the extent of any conflict between the Loan Documents and this
Modification Agreement, this Modification Agreement shall control. Unless specifically modified
hereby, all terms of the Original Loan Agreement and the Loan Documents shall remain in full force
and effect and are hereby ratified and reaffirmed. This Modification Agreement (a) shall bind and
benefit the parties hereto and their respective heirs, beneficiaries, administrators, executors,
receivers, trustees, successors and assigns; (b) shall be governed by the laws of the State of
Florida and United States federal law; and (c) may be executed in several counterparts, and by the
parties hereto on separate counterparts, and each counterpart, when executed and delivered, shall
constitute an original agreement enforceable against all who signed it without production of or
accounting for any other counterpart, and all separate counterparts shall constitute the same
agreement

THE WRITTEN LOAN DOCUMENTS REPRESENT THE FINAL AGREEMENT BETWEEN THE PARTIES AND MAY NOT BE
CONTRADICTED BY EVIDENCE OF PRIOR, CONTEMPORANEOUS, OR SUBSEQUENT ORAL AGREEMENTS OF THE PARTIES.
THERE ARE NO ORAL AGREEMENTS BETWEEN THE PARTIES.

[The balance of this page is intentionally left blank]

IN WITNESS WHEREOF, THIS MODIFICATION TO CONSTRUCTION LOAN AGREEMENT AND OTHER LOAN
DOCUMENTS is EXECUTED and DELIVERED UNDER SEAL as of the date first appearing above.

	 	 	 
	WITNESS/ATTEST:	 	HF LOGISTICS-SKX T1, LLC,
	/s/ Christina Colucci

Name: Christina Colucci
	 	a Delaware limited liability company

By: HF Logistics-SKX, LLC, a Delaware limited

	 
	 	

	Name:
	 	liability company, its sole member

By: HF Logistics I, LLC, a Delaware limited

liability company, its managing member

By: /s/ Iddo Benzeevi

	 	 	 

	 	 	Iddo Benzeevi, President and

Chief Executive Officer

	 
	 	

	 	 	 
	 	 	 	 	 	BANK OF AMERICA, N.A.,
	 	 	 	 	 	a national banking association, individually as
	WITNESS/ATTEST:	 	 	Administrative Agent, L/C Issuer, and a Lender
	 	 	 	 	 	By: /s/ Janice T. Riley
	Name:	 	 	Name:	 	 	Janice T. Riley
	 	 	 	 	 	Title:	 	 	Vice President

	 	 	 
	 	 	 	 	 	 	 	 	RAYMOND JAMES BANK, N.A.,
	WITNESS/ATTEST:	 	 	 	as a Lender
	/s/	 	Jennie E. Butler	 	 	 	By: /s/	 	 	Alexander L. Rody
	Name:	Jennie E. Butler	 	 	Name:	 	 	Alexander L. Rody
	 	 	 	 	 	 	 	 	Title:	 	 	Senior Vice President

1

	 	 	 
	 	 	 	 	 	 	 	 	ONEWEST BANK, FSB,
	WITNESS/ATTEST:	 	 	 	as a Lender
	/s/	 	Linda Danlarre	 	 	 	By: /s/	 	 	John Farrace
	Name:	Linda Danlarre	 	 	Name:	 	 	John Farrace
	 	 	 	 	 	 	 	 	Title:	 	 	Executive Vice President
	 	 	 	 	 	 	 	 	JOINDER OF GUARANTORS

The undersigned Guarantors hereby agree to the terms and conditions of, and join in, this
Modification Agreement as of the date first appearing above.

	 
	GUARANTORS:

	TG DEVELOPMENT CORP., Delaware corporation

	By: /s/ James Lieb

	 

	Name: James Lieb

Title: Executive Vice President

	 	 	TRANS LP HOLDINGS, LLC, a Delaware limited
liability company

	 	 	 
	By: /s/ James Lieb

	 

	Name:

Title:

	 	James Lieb

Executive Vice President

	 	 	BOCA OCEAN HOLDINGS, LLC, a Delaware limited
liability company

	 	 	 
	By: /s/ James Lieb

	 

	Name:

Title:

	 	James Lieb

Executive Vice President

	 	 	T/CAL HOLDINGS, LLC, a Delaware limited
liability company

	 	 	 
	By: /s/ James Lieb

	 

	Name:

Title:

	 	James Lieb

Executive Vice President

	 	 	ISLAND BOULEVARD HOLDINGS, LLC, a Delaware
limited liability company

	 	 	 
	By: /s/ James Lieb

	 

	Name:

Title:

	 	James Lieb

Executive Vice President

EXHIBIT “A”

LEGAL DESCRIPTION OF LAND

Real property in the City of Moreno Valley, County of Riverside, State of California, described as
follows:

 

PARCEL 1 OF PARCEL MAP NO. 35629, IN THE CITY OF MORENO VALLEY, COUNTY OF RIVERSIDE, STATE OF
CALIFORNIA, AS PER THE MAP THEREOF RECORDED ON AUGUST 26, 2010 IN BOOK 231, PAGES 77-82 OF PARCEL
MAPS, IN THE OFFICE OF THE COUNTY RECORDER OF RIVERSIDE COUNTY, CALIFORNIA.

 

EXHIBIT “N”

SCHEDULE OF LENDERS AND OTHER PARTIES

BANK OF AMERICA, N.A., as Administrative Agent:

Notices:

	 	 	 
	Bank of America, N.A.

	One Alhambra Plaza, Penthouse

	Coral Gables, Florida 33134

	Attn:

	 	Commercial Loan Administration

Telephone: (305) 468-4347

Facsimile: (305) 468-4364

Electronic Mail: althea.v.lyn-sue@baml.com

Payment Instructions:

Bank of America, N.A.

Atlanta, Georgia

ABA No.: 0260-0959-3

Account No.: GL 1366211723000

Attention: Nicole Rice

Reference: HF Logistics-SKX T1

BANK OF AMERICA, N.A., as Lender:

	 	 	 	 	 
	Domestic and LIBOR Lending Office:
	 	Commitment Amount: $40,000,000.00
	
 
	 	 	 	Pro Rata Share: 50%
	Bank of America, N.A.
	 	 
	One Alhambra Plaza, Penthouse
	 	 
	Coral Gables, Florida 33134
	 	 
	Attn:

	 	Commercial Loan Administration
	 	

Telephone: (305) 468-4347

Facsimile: (305) 468-4364

Electronic Mail: althea.v.lyn-sue@baml.com

Notices:

	 	 	 
	Bank of America, N.A.

	One Alhambra Plaza, Penthouse

	Coral Gables, Florida 33134

	Attn:

	 	Commercial Loan Administration

Telephone: (305) 468-4347

Facsimile: (305) 468-4364

Electronic Mail: althea.v.lyn-sue@baml.com

Payment Instructions:

Bank of America, N.A.

Atlanta, Georgia

ABA No.: 0260-0959-3

Account No.: GL 1366211723000

Attention: Nicole Rice

Reference: HF Logistics-SKX T1

RAYMOND JAMES BANK, N.A.

	 	 	 
	Domestic and LIBOR Lending Office:

	 	Commitment Amount: $20,000,000.00
	Raymond James Bank, N.A.

Loan Ops/CML

710 Carillon Parkway

St. Petersburg, Florida 33176

Attn:

	 	Pro Rata Share: 25%

	 

	 	

Telephone:

Facsimile: (866) 597-4002

Electronic Mail: RJBank-LoanOpsCorp@RaymondJames.com 

Notices:

Raymond James Bank, N.A.

Loan Ops/CML

710 Carillon Parkway

St. Petersburg, Florida 33176

Attn:

Telephone:

Facsimile: (866) 597-4002

Electronic Mail: RJBank-LoanOpsCorp@RaymondJames.com

Payment Instructions:

Federal Home Loan Bank of Atlanta

ABA No.: 0610-0876-6

Account No.: 3574100 Raymond James Bank

Attention: Loan Ops/CML

Reference: HF Logistics-SKX T1, LLC

2

ONEWEST BANK, FSB

	 	 	 	 	 
	Domestic and LIBOR Lending Office:	 	Commitment Amount: $20,000,000.00
	OneWest Bank, FSB
	 	

	 	Pro Rata Share: 25%

	888 East Walnut Street	 	 
	Pasadena, California 91101	 	 
	Attn:
	 	Olga Fomina, AVP

Loan Operations Supervisor

Telephone: (626) 535-4878

Facsimile: (866) 518-6549

Electronic Mail: OWB-BBG-Notedepartment@owb.com

	 	

	 	 	 

	 	

Notices:

	 	 	 
	OneWest Bank, FSB
	888 East Walnut Street
	Pasadena, California 91101
	Attn:
	 	Olga Fomina, AVP

Loan Operations Supervisor

Telephone: (626) 535-4878

Facsimile: (866) 518-6549

Electronic Mail: OWB-BBG-Notedepartment@owb.com

	 	 	 

Payment Instructions:

OneWest Bank, FSB

888 East Walnut Street

Pasadena, California 91101

	 	 	ABA Number:        322270288

	 	 	Acct Name:             Loan Control

	 	 	Acct Number:         8519808800000

	 	 	Ref                          HF Logistics-SKX T1, LLC

09802.2157 #2408269 v12

3EX-10.1

FIRST AMENDMENT TO TRANSACTION AGREEMENT

AND ASSIGNMENT OF RIGHTS

THIS FIRST AMENDMENT TO TRANSACTION AGREEMENT AND ASSIGNMENT OF RIGHTS (“Amendment”) is made
effective as of the        day of November, 2012, by and among I-DRIVE LIVE, LLC a Florida limited
liability company f/k/a THE SQUARE, LLC, a Florida limited liability company (“Square”), ORLANDO
HOTEL INTERNATIONAL SPE, LLC, a Florida limited liability company (“OHI”), ORLANDO HOTEL
INTERNATIONAL SPE HOLDINGS, LLC, a Florida limited liability company (“OHI Parent”), CIRCLE
ENTERTAINMENT PROPERTY-ORLANDO, LLC, a Florida limited liability company (“Property Circle Sub”),
CIRCLE ENTERTAINMENT SV ORLANDO-I, LLC, a Florida limited liability company (“Wheel Circle Sub”,
which together with the Property Circle Sub are hereinafter referred to collectively as “Circle”),
CHARLES WHITTALL, as an individual (“Whittall”), I-DRIVE LIVE PARENT LLC, a Delaware limited
liability company (“IDL Parent”), IDL MASTER TENANT, LLC, a Delaware limited liability company
(“Master Tenant”) and IDL WHEEL TENANT, LLC, a Delaware limited liability company (“Wheel Tenant”).

W H E R E A S:

A. Square, OHI, OHI Parent, Property Circle Sub and Whittall are parties to that certain
Transaction Agreement dated as of February 28, 2011 (the “Transaction Agreement”);

B. The Transaction Agreement describes the terms and conditions upon which the parties agreed
to enter into and to consummate: (i) the joint venture between the Property Circle Sub (or its
affiliate) and Square for the joint redevelopment of the real property owned by Square in Orlando,
Florida (the “Square Property”) as such real property is more particularly described in the
Transaction Agreement (the “Square Transaction”), (ii) a 99 year ground lease between Square and
the Wheel Circle Sub for the construction and operation of a ferris wheel on the Square Property
(the “Wheel Transaction”), and (iii) the joint venture between Property Circle Sub (or its
affiliate) and OHI Parent for the joint improvement and leasing up of the real property owned by
OHI (a wholly owned subsidiary of OHI Parent) in Orlando Florida as such real property is more
particularly described in the Transaction Agreement (the “OHI Transaction”);

C. Circle, Square and Whittall have agreed to relinquish all of their respective rights under
the Transaction Agreement related to the Square Transaction and the Wheel Transaction subject to
the following conditions: (i) Square shall sell the Square Property to ID CENTER (FL) LLC, a
Delaware limited liability company (the “Landlord”) and simultaneously therewith, the Landlord
shall enter into two leases with Master Tenant and Wheel Tenant, each such lease with a term of up
to 99 years and which leases in the aggregate entitle Master Tenant and Wheel Tenant to possession
of the entire Square Property, (ii) the parties shall execute and deliver the Limited Liability
Company Agreement of IDL Parent (which is sole member of both Master Tenant and Wheel Tenant) (“IDL
Parent LLC Agreement”), and (iii) Circle shall assign all of its rights related to the Square
Transaction and/or the Wheel Transaction to IDL Parent, Master Tenant and Wheel Tenant
(collectively, the “New IDL Entities”), and in consideration thereof, the New IDL Entities shall
make payments to Circle and Whittall in accordance with that certain Funding Agreement dated of
even date herewith (the above described transaction is hereinafter referred to as the
“Reconstituted Square Transaction”).

D. The parties have agreed to reinstate the terms and conditions of the OHI Transaction as
described in the Transaction Agreement to extend the closing of the OHI Transaction as provided
herein; and

E. In connection with the foregoing, the parties desire to amend the Transaction Agreement in
certain respects as more particularly set forth below.

NOW, THEREFORE, in consideration of the execution and delivery of the Amendment and other good
and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the
parties hereby further agree as follows:

1. The foregoing recitals are true and correct and are incorporated herein in their entirety.

2. This Amendment shall be deemed a part of, but shall take precedence over and supersede any
provisions to the contrary contained in the Transaction Agreement. All initial capitalized terms
used in this Amendment shall have the same meaning as set forth in the Transaction Agreement unless
otherwise provided herein.

3. Cirlce, Square and Whittall hereby relinquish all of their rights to consummate the Square
Transaction and the Wheel Transaction as described in the Transaction Agreement and agree to enter
into the Reconstituted Square Transaction in the manner as described in the IDL Parent LLC
Agreement, the Funding Agreement or any other document, agreement or instrument related to the
Reconstituted Square Transaction (collectively, the “Reconstituted Square Transaction Documents”).
In connection therewith, Circle hereby assigns all of its rights, title and interest in the
Transaction Agreement related to the Square Transaction and/or the Wheel Transaction and all of its
rights, title and interest to all of the development plans, specifications, architect’s agreements,
licenses, permits, approvals, agreements, intellectual property rights and all other property and
assets of Circle related to the Square Transaction and/or the Wheel Transaction to the New IDL
Entities and such New IDL Entities hereby assume all of Circle’s obligations in the Transaction
Agreement as they relate to the Square Transaction and/or the Wheel Transaction in the manner as
described in the Reconstituted Square Transaction Documents. Square, OHI, OHI Parent and Whittall
hereby consent to the foregoing assignment from Circle of its rights, title and interest in the
Transaction Agreement related to the Square Transaction and the Wheel Transaction to the New IDL
Entities. Upon the consummation of the Reconstituted Square Transaction in accordance with the
Reconstituted Square Transaction Documents all provisions in the Transaction Agreement governing
the Square Transaction and the Wheel Transaction shall have no further force and effect, except and
only as otherwise expressly provided in the Reconstituted Square Transaction Documents.

4. Notwithstanding the parties relinquishment of the agreement to consummate the Square
Transaction and the Wheel Transaction on terms and conditions set forth in the Transaction
Agreement and the consummation of the Reconstituted Square Transaction in its stead, the parties
acknowledge and agree that the remainder of the Transaction Agreement as it relates to the OHI
Transaction shall be hereby confirmed, reinstated, in full force and effect and shall be binding on
OHI, OHI Parent, Whittall and Circle to the fullest extent as provided in the Transaction
Agreement, except that the Outside Closing Date for the OHI Transaction shall be extended until
June 30, 2013.

5. Except as specifically modified hereby, all of the provisions of the Transaction Agreement
which are not in conflict with the terms of this Amendment shall remain in full force and effect.

6. This Amendment may be executed in counterparts and shall constitute an agreement binding on
all parties notwithstanding that all parties are not signatories to the original or the same
counterpart.

[SIGNATURES APPEAR ON THE FOLLOWING PAGE]

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

I-DRIVE LIVE PARENT LLC, a Delaware limited liability company

By:       

Name:       

Title:      

IDL MASTER TENANT, LLC, a Delaware limited liability company

By:       

Name:       

Title:      

IDL WHEEL TENANT, LLC, a Delaware limited liability company

By:       

Name:       

Title:      

CIRCLE ENTERTAINMENT PROPERTY-ORLANDO, LLC, a Florida limited

liability company

By:       

Name:       

Title:      

CIRCLE ENTERTAINMENT SV ORLANDO-I, LLC, a Florida limited

liability company

By:       

Name:       

Title:      

ORLANDO HOTEL INTERNATIONAL SPE, LLC, a Florida limited

liability company

By:       

Name:       

Title:      

ORLANDO HOTEL INTERNATIONAL SPE HOLDINGS, LLC a Florida

limited liability company

By:       

Name:       

Title:      

I-DRIVE LIVE, LLC F/K/A THE SQUARE, LLC, a Florida limited

liability company

By: I-Drive Live, Inc., f/k/a The Square, Inc., its sole

managing member

By:       

Charles Whittall, its President

ACKNOWLEDGED AND CONSENTED TO BY:

CHARLES WHITTALL

      

Charles Whittall, an individual

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