Document:

Filed by Bowne Pure Compliance

 

Exhibit 10.20

AMENDMENT TO REVOLVING NOTE

THIS AMENDMENT (this “Agreement”), dated as of this 30th day of March, 2007 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 BOCO INVESTMENTS, LLC, a
Colorado limited liability company, having an office at 103 West Mountain Ave., Fort Collins,
Colorado 80524 (“Holder”).

WITNESSETH:

WHEREAS, Maker has executed and delivered to Holder a Revolving 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 wish 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;

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, and (ii) United Western
Bank (“UWB”) pursuant to that certain Credit Agreement dated March
30, 2007 between UWB and Maker, as the same may be amended,
modified, restated or extended from time to time, and any other
indebtness in replacement or subordination to Vectra Bank or United
Western Bank as may be approved by Holder in writing from time to
time.

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 Agreement, 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 Agreement 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 Agreement shall be governed by the
applicable laws of the State of Colorado.

[REMAINDER OF THIS PAGE INTENTIONALLY LEFT BLANK]

 

2

 

IN WITNESS WHEREOF the parties hereto have each caused this Agreement 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/ James W. Creamer III	 	 
	 	 	 	 	 	 	 
	 

	 	 	 	Name:	 	James W. Creamer III	 	 
	 
	 	 	 	 	 	 
	 	 
	 
	 	 	 	Title:	 	Chief Financial Officer	 	 
	 
	 	 	 	 	 	 
	 	 
	 
	 	 	 	 	 	 	 	 
	 	 	HOLDER:
	 
	 	 	 	 	 	 	 	 
	 	 	BOCO INVESTMENTS, LLC,

a Colorado limited liability company
	 
	 	 	 	 	 	 	 	 
	 
	 	By:	 	/s/ Joseph C. Zimlich	 	 
	 	 	 	 	 	 	 
	 
	 	 	 	Name:	 	Joseph C. Zimlich	 	 
	 
	 	 	 	 	 	 
	 	 
	 
	 	 	 	Title:	 	Chief Executive Officer	 	 
	 
	 	 	 	 	 	 
	 	 

 

3Filed by Bowne Pure Compliance

 

Exhibit 10.21

AMENDMENT TO REVOLVING NOTE

THIS AMENDMENT (the “Amendment”), dated as of this 10th day of August, 2007 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 BOCO INVESTMENTS, LLC, a
Colorado limited liability company, having an office at 103 West Mountain Ave., Fort Collins,
Colorado 80524 (“Holder”).

WITNESSETH:

WHEREAS, Maker has executed and delivered to Holder a Revolving 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 Revolving Note (“Amendment No. 1”) on March 30, 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, the Note and Amendment No. 1, which incorporates all provisions of the Note, contain
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. Waiver. The parties hereto agree to waive the provisions of Section 3(i) of the
Note of as they relate to the Maker’s recognition of impairment charges in its financial statements
under Generally Accepted Accounting Principles for the fiscal quarter ended June 30, 2007. The
recognition of impairment charges by Maker in its financial statements under Generally
Accepted Accounting Principles for the fiscal quarter ended June 30, 2007 will not be considered by
the parties to be an Event of Default under Note or Amendment No. 1.

2. 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.

3. 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.

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

[REMAINDER OF THIS PAGE INTENTIONALLY LEFT BLANK]

 

 

 

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/ James W. Creamer III	 	 
	 	 	 	 	 	 	 
	 
	 	 	 	Name:	 	James W. Creamer III	 	 
	 
	 	 	 	 	 	
	 	 
	 
	 	 	 	Title:	 	Chief Financial Officer	 	 
	 
	 	 	 	 	 	 

	 	 
	 
	 	 	 	 	 	 	 	 
	 	 	HOLDER:
	 
	 	 	 	 	 	 	 	 
	 	 	BOCO INVESTMENTS, LLC,

a Colorado limited liability company
	 
	 	 	 	 	 	 	 	 
	 
	 	By:	 	/s/ Joseph C. Zimlich	 	 
	 	 	 	 	 	 	 
	 
	 	 	 	Name:	 	Joseph C. Zimlich	 	 
	 
	 	 	 	 	 	 
	 	 
	 
	 	 	 	Title:	 	Chief Executive Officer	 	 
	 
	 	 	 	 	 	 
	 	 

 

2Filed by Bowne Pure Compliance

 

Exhibit 10.22

AMENDMENT TO SENIOR SUBORDINATED NOTE

THIS AMENDMENT (this “Agreement”), dated as of this 30th day of March, 2007 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 wish 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;

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 March
30, 2007 between UWB and Maker, as the same may be amended,
modified, restated or extended from time to time, and any other
indebtness in replacement or subordination to Vectra Bank or United
Western Bank as may be approved by Holder in writing from time to
time.

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 Agreement, 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 Agreement 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 Agreement shall be governed by the
applicable laws of the State of Colorado.

[REMAINDER OF THIS PAGE INTENTIONALLY LEFT BLANK]

 

2

 

IN WITNESS WHEREOF the parties hereto have each caused this Agreement 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/ James W. Creamer III	 	 
	 	 	 	 	 	 	 
	 
	 	 	 	Name:	 	James W. Creamer III	 	 
	 
	 	 	 	 	 	 
	 	 
	 
	 	 	 	Title:	 	Chief Financial Officer	 	 
	 
	 	 	 	 	 	 
	 	 
	 
	 	 	 	 	 	 	 	 
	 	 	HOLDER:
	 
	 	 	 	 	 	 	 	 
	 	 	GDBA INVESTMENTS, LLLP,

a Colorado limited liability limited partnership
	 
	 	 	 	 	 	 	 	 
	 
	 	By:	 	/s/ G. Brent Backman	 	 
	 	 	 	 	 	 	 
	 
	 	 	 	Name:	 	G. Brent Backman	 	 
	 
	 	 	 	 	 	 
	 	 
	 
	 	 	 	Title:	 	Partner	 	 
	 
	 	 	 	 	 	 
	 	 

 

3

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