Document:

<PAGE>

                                                                   Exhibit 10(n)

                               FIRST AMENDMENT OF
                        GENERAL GROWTH PROPERTIES, INC.
                           1998 INCENTIVE STOCK PLAN
                              Dated:  May 9, 2000
                              -------------------

     WHEREAS, General Growth Properties, Inc. (the "Company") maintains the
General Growth Properties, Inc. 1998 Incentive Stock Plan (the "Plan") to
provide incentive stock compensation to certain executives and other selected
employees of the Company and its affiliates and subsidiaries; and

     WHEREAS, amendment of the Plan now is considered desirable in order to
allow the Compensation Committee to choose a multiplier of less than 25% (the
current multiplier in the Plan for senior management) for determining the number
of Threshold-Vesting Stock Options for members of senior management.

     NOW, THEREFORE, by virtue of the power reserved to the Company by Section 7
of the Plan, the Plan be, and hereby is, amended by substituting the following
new Step One for Step One of Section 5 of the Plan, effective as of January 1,
2000 for any options granted on or after such date:

     "The optionee's Annual Bonus Award under the Cash Incentive Plan shall be
     multiplied by a percentage, not to exceed 25%, to be determined by the
     Committee;"<PAGE>

                                                                Exhibit 10(dd)p1

                                                                 EXECUTION COPY
                                                                 --------------

                               JOINDER AGREEMENT

          Reference is made to the Term Loan Agreement, dated as of July 31,
2000 (as amended, supplemented or otherwise modified from time to time, the
"Loan Agreement"), among GGP Limited Partnership, GGPLP L.L.C., the institutions
from time to time parties thereto as Lenders, Lehman Commercial Paper Inc., as
Syndication Agent, and Bankers Trust Company, as Administrative Agent.  Unless
otherwise defined herein, terms defined in the Loan Agreement and used herein
shall have the meanings given to them in the Loan Agreement.

          Commerzbank AG, New York and Grand Cayman Branches (the "Joining
Lender") (i) represents and warrants that it is legally authorized to enter into
this Joinder Agreement; (ii) confirms that it has received a copy of the Loan
Agreement, together with copies of such other documents and information as it
has deemed appropriate to make its own credit analysis and decision to enter
into this Joinder Agreement; (iii) agrees that it will, independently and
without reliance upon the Co-Agents or any other Lender and based on such
documents and information as it shall deem appropriate at the time, continue to
make its own credit decisions in taking or not taking action under the Loan
Agreement; (iv) appoints and authorizes the Co-Agents to take such action as
agent on its behalf and to exercise such powers under the Loan Agreement as are
delegated to the Co-Agents by the terms thereof, together with such powers as
are reasonably incidental thereto and not otherwise reserved under the Loan
Agreement; (v) agrees that it will perform in accordance with their terms all of
the obligations which by the terms of the Loan Agreement are required to be
performed by it from and after the date hereof as a Lender; (vi) confirms that,
to the best of its knowledge, as of the date hereof, it has not made any
determination which would subject the Borrower to the payment of additional
compensation under Section 13.2 or under Section 13.3 of the Loan Agreement;
(vii) specifies as its Domestic Lending Office (and address for notices) and
Eurodollar Lending Office(s) the offices set forth on Schedule 1 hereto; and
(viii) if the Joining Lender is organized under the laws of a jurisdiction
outside the United States, attaches the forms prescribed by the Internal Revenue
Service of the United States certifying as to the Joining Lender's status for
purposes of determining exemption from United States withholding taxes with
respect to all payments to be made to the Joining Lender under the Loan
Agreement and the Notes or such other documents as are necessary to indicate
that all such payments are subject to such taxes at a rate reduced by an
applicable tax treaty.

          Upon execution and delivery of this Joinder Agreement by the parties
hereto as provided in Section 3.2 of the Loan Agreement, (a) the Joining Lender
hereby shall be a party to the Loan Agreement, shall be a Lender under the Loan
Agreement having the Loan Commitments set forth in Schedule 1 hereto, effective
as of the date of this Joinder Agreement, and shall have the rights and
obligations of a Lender under the Loan Agreement and (b) the Maximum Aggregate
Loan Amount shall be increased to $255,000,000.00.

          THIS JOINDER AGREEMENT SHALL BE GOVERNED BY, AND CONSTRUED AND
INTERPRETED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK.
<PAGE>

                                                                Exhibit 10(dd)p2

          This Joinder Agreement may be executed by one or more of the parties
hereto on any number of separate counterparts, and all of said counterparts
taken together shall be deemed to constitute one and the same instrument.
Delivery of an executed signature page hereof by facsimile transmission shall be
effective as delivery of a manually executed counterpart hereof.
<PAGE>

                                                                Exhibit 10(dd)p3

          IN WITNESS WHEREOF, the parties hereto have caused this Joinder
Agreement to be duly executed and delivered by their proper and duly authorized
officers as of this 1st day of August, 2001.

                              COMMERZBANK AG, NEW YORK AND GRAND CAYMAN BRANCHES

                              By:  /s/  Christian Berry
                                   -------------------------------
                                   Name:  Christian Berry
                                  Title:  Assistant Vice President

                              By:  /s/  Douglas P. Traynor
                                   -------------------------------
                                   Name:  Douglas P. Traynor
                                  Title:  Senior Vice President

Accepted and agreed:

GGP LIMITED PARTNERSHIP, a Delaware limited partnership

By:  GENERAL GROWTH PROPERTIES, INC.,
     a Delaware corporation, its sole general partner

     By:   /s/  Bernard Freibaum
           -----------------------------
         Name:  Bernard Freibaum
        Title:  Executive Vice President

GGPLP L.L.C., a Delaware limited liability company

By:  GGP LIMITED PARTNERSHIP,
     a Delaware limited partnership, its managing member

     By:    GENERAL GROWTH PROPERTIES, INC.,
            a Delaware corporation, its sole general partner

     By:   /s/  Bernard Freibaum
           -----------------------------
         Name:  Bernard Freibaum
        Title:  Executive Vice President
<PAGE>

                                                                Exhibit 10(dd)p4

Consented to:

BANKERS TRUST COMPANY, as Administrative Agent

By:    /s/  Steven P. Lapha
       --------------------
     Name:  Steven P. Lapha
    Title   Director

LEHMAN COMMERCIAL PAPER INC., as Syndication Agent

By:    /s/  Francis X. Gilhool
       -----------------------
     Name:  Francis X. Gilhool
    Title   Authorized Signatory<PAGE>

                                                                Exhibit 10(ee)p1

                                      NOTE

$25,000,000.00                                                New York, New York
                                                              August 1, 2001

          FOR VALUE RECEIVED, the undersigned, GGP LIMITED PARTNERSHIP, a
Delaware limited partnership, and GGPLP L.L.C., a Delaware limited liability
company (individually and collectively, the "Borrower"), jointly and severally,
hereby unconditionally promise to pay to the order of COMMERZBANK AG, NEW YORK
AND GRAND CAYMAN BRANCHES (the "Lender") at the office of Bankers Trust Company,
located at 130 Liberty Street, New York, New York  10006 in lawful money of the
United States of America and in immediately available funds, the principal
amount of TWENTY-FIVE MILLION DOLLARS ($25,000,000.00), or, if less, the unpaid
principal amount of the Loans made by the Lender pursuant to Section 2.1 or
Article III of the Term Loan Agreement, as hereinafter defined.  The Borrower
further agrees to pay interest in like money at such office on the unpaid
principal amount hereof from time to time outstanding at the rates and on the
dates specified in Section 5.1 of such Term Loan Agreement.

          The holder of this Note is authorized to endorse on the schedules
annexed hereto and made a part hereof or on a continuation thereof which shall
be attached hereto and made a part hereof the date, type and amount of the
Loan(s) evidenced hereby and the date and amount of each payment or prepayment
of principal with respect thereto, each conversion of all or a portion thereof
to another type, each continuation of all or a portion thereof as the same type
and, in the case of Eurodollar Rate Loans, the length of each Interest Period
with respect thereto.  Each such endorsement shall constitute prima facie
evidence of the accuracy of the information endorsed.  The failure to make any
such endorsement shall not affect the obligations of the Borrower in respect of
such Loan.

          This Note (a) is one of the Notes referred to in the Term Loan
Agreement dated as of July 31, 2000 (as amended, supplemented or otherwise
modified from time to time, the "Term Loan Agreement"), among the Borrower, the
Lender, the other institutions from time to time parties thereto as lenders and
Bankers Trust Company, as administrative agent, (b) is subject to the provisions
of the Term Loan Agreement and (c) is subject to voluntary and mandatory
prepayment in whole or in part as provided in the Term Loan Agreement.  This
Note is guaranteed as provided in the Loan Documents.  Reference is made to the
Loan Documents for the nature and extent of the guarantees, the terms and
conditions upon which each guarantee was granted and the rights of the holder of
this Note in respect thereof.

          Upon the occurrence and during the continuance of any one or more of
the Events of Default, all amounts then remaining unpaid on this Note shall
become, or may be declared to be, immediately due and payable, all as provided
in the Term Loan Agreement.
<PAGE>

                                                                Exhibit 10(ee)p2

          To the extent not prohibited by law, all parties now and hereafter
liable with respect to this Note, whether maker, principal, surety, guarantor,
endorser or otherwise, hereby waive presentment, demand, protest and all other
notices of any kind.

          Unless otherwise defined herein, terms defined in the Term Loan
Agreement and used herein shall have the meanings given to them in the Term Loan
Agreement.

          NOTWITHSTANDING ANYTHING TO THE CONTRARY CONTAINED HEREIN OR IN THE
TERM LOAN AGREEMENT, THIS NOTE MAY NOT BE TRANSFERRED EXCEPT PURSUANT TO AND IN
ACCORDANCE WITH THE REGISTRATION AND OTHER PROVISIONS OF SECTION 15.1 OF THE
TERM LOAN AGREEMENT.  THIS NOTE SHALL BE GOVERNED BY, AND CONSTRUED AND
INTERPRETED IN ACCORDANCE WITH, THE LAW OF THE STATE OF NEW YORK.

            [The remainder of this page is intentionally left blank]
<PAGE>

                                                                Exhibit 10(ee)p3

          IN WITNESS WHEREOF, the Borrower has caused this Note to be executed
and delivered by its duly authorized officer as of the day and year first above
written.

                             GGPLP L.L.C., a Delaware limited liability company

                             By:  GGP LIMITED PARTNERSHIP, a Delaware
                                  limited partnership, its sole managing member

                             By:  GENERAL GROWTH PROPERTIES, INC., a
                                  Delaware corporation, its sole general partner

                             By:    /s/  Bernard Freibaum
                                    ---------------------
                                   Name:  Bernard Freibaum
                                  Title:  Executive Vice President

                             GGP LIMITED PARTNERSHIP, a Delaware limited
                             partnership

                             By:  GENERAL GROWTH PROPERTIES, INC., a
                                  Delaware corporation, its sole general partner

                             By:    /s/  Bernard Freibaum
                                    ---------------------
                                   Name:  Bernard Freibaum
                                  Title:  Executive Vice President

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00028-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00028-of-00352.parquet"}], [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00028-of-00352.parquet"}]]