Document:

Exhibit 10.45

 

SIXTH COMMITMENT AMENDMENT TO

LOAN SALE AND SERVICING AGREEMENT

 

THIS SIXTH COMMITMENT AMENDMENT TO LOAN
SALE AND SERVICING AGREEMENT (this “Sixth Amendment”), dated as of July 1, 2015, is entered into by and
among BRFC-Q 2010 LLC, a Delaware limited liability company, as seller (the “Seller”), Quorum Federal Credit
Union, a federally chartered credit union, as buyer (the “Buyer”), Vacation Trust, Inc., a Florida Corporation,
as Club Trustee (the “Club Trustee”), U.S. Bank National Association, a national banking association, as custodian
and paying agent (the “Custodian”), Bluegreen Corporation, a Florida corporation, as servicer (the “Servicer”),
and Concord Servicing Corporation, an Arizona corporation, as backup servicer (the “Backup Servicer”).

 

RECITALS

 

WHEREAS, the Buyer,
the Seller, the Servicer and the Backup Servicer have previously entered into that certain Loan Sale and Servicing Agreement, dated
as of December 22, 2010, as amended by that certain Omnibus Amendment, dated as of May 3, 2011, and that certain Omnibus Amendment
No. 2, dated as of June 30, 2015, and as further amended by that certain First Commitment Amendment, dated as of March 1, 2012,
that Second Commitment Amendment, dated as of January 31, 2013 that Third Commitment Amendment dated as of April 1, 2014, that
Fourth Commitment Amendment, dated as of November 1, 2014, that Fifth Commitment Amendment, dated as of December 23, 2014, and
that First General Amendment, dated as of April 1, 2014 (as may be amended, supplemented or restated from time to time, the “Loan
Sale and Servicing Agreement”).

 

WHEREAS, Standard
Definitions are attached to the Loan Sale and Servicing Agreement at Annex A (the “Standard Definitions”).

 

WHEREAS, the parties
hereto desire to modify the Loan Sale and Servicing Agreement as set forth in this Sixth Amendment.

 

WHEREAS, capitalized
terms used herein not otherwise defined herein shall have the meanings ascribed to such terms in the Loan Sale and Servicing Agreement.

 

NOW, THEREFORE,
in consideration of the mutual covenants and agreements contained herein and other good and valuable consideration, the receipt
and adequacy of which are hereby acknowledged, the parties hereto, intending to be legally bound hereby, agree as follows:

 

1.          Amendment
of Standard Definitions. The following definition shall replace the corresponding definition in the Standard Definitions:

 

“Commitment Period”
and “Commitment Purchase Period” shall mean the period commencing on July 1, 2015 and continuing until June
30, 2017.

 

“Minimum Required Amount”
shall mean, during the Commitment Period, fifty million dollars ($50,000,000.00).

 

    	 	 	1

     

    

  

2.          Addition
of new Section 2.6. Section 2.6 of the Loan Sale and Servicing Agreement is hereby added as follows:

 

SECTION 2.6. Determining Minimum
Required Amount Availability. The amount of the Minimum Required Amount available on any given date shall be the difference
between the Minimum Required Amount less the sum of the Net Investment Amount outstanding on such given date for (i) the BRFC-Q
2010 LLC and (ii) BBCV Receivables-Q 2010 LLC.

 

3.          Choice
of Law and Venue. This Sixth Amendment shall be construed in accordance with the internal laws of the State of New York.

 

4.          Binding
Effect. This Sixth Amendment shall inure to the benefit of and be binding upon the parties to this Sixth Amendment and their
successors and assigns.

 

5.          Counterpart
Execution. This Sixth Amendment may be executed in counterpart, and any number of copies of this Sixth Amendment which in the
aggregate have been executed by all parties to this Sixth Amendment shall constitute one original.

 

6.          Time
is of the Essence. Time is of the essence in the performance of the obligations in this Sixth Amendment.

 

7.          No
Third Party Beneficiary. No third party shall be a beneficiary hereof.

 

[Signatures Appear on Next Page]

 

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IN WITNESS WHEREOF,
the parties hereto have executed this Sixth Amendment as of the date set forth above.

 

	THE BUYER:	QUORUM FEDERAL CREDIT UNION
	 	 
	 	By:	/s/ Bruno Sementilli
	 	 	Bruno Sementilli,
	 	 	President and CEO
	 	 	 
	THE SELLER:	BRFC-Q 2010 LLC
	 	 	 
	 	By:	/s/ Allan J. Herz
	 	 	Allan J. Herz
	 	 	President and Assistant Treasurer
	 	 	 
	THE SERVICER: 	BLUEGREEN CORPORATION
	 	 	 
	 	By:	/s/ Anthony M. Puleo
	 	 	Anthony M. Puleo
	 	 	Senior Vice President, CFO &
	 	 	Treasurer
	 	 	 
	THE BACKUP SERVICER: 	CONCORD SERVICING CORPORATION
	 	 	 
	 	By:	/s/ Sonja Yurkiw
	 	 	Name: Sonja Yurkiw
	 	 	Title: Vice President and General
	 	 	          Counsel
	 	 	 
	THE CUSTODIAN: 	U.S. BANK NATIONAL ASSOCIATION, not in its individual capacity but solely as Custodian and Paying Agent hereunder
	 	 	 
	 	By:	/s/ Michelle Moeller
	 	Printed Name:  Michelle Moeller
	 	Title: Vice President
	 	 
	THE CLUB TRUSTEE:	VACATION TRUST, INC.,
	 	as Club Trustee
	 	 
	 	By:	/s/ Constance G. Dodd
	 	 	Constance G. Dodd
	 	 	President, Treasurer and Secretary

  

    	 	 	3Exhibit 10.46

 

SEVENTH COMMITMENT AMENDMENT TO

LOAN SALE AND SERVICING AGREEMENT

 

THIS SEVENTH COMMITMENT
AMENDMENT TO LOAN SALE AND SERVICING AGREEMENT (this “Seventh Amendment”), dated as of September 1, 2016,
is entered into by and among BRFC-Q 2010 LLC, a Delaware limited liability company, as seller (the “Seller”),
Quorum Federal Credit Union, a federally chartered credit union, as buyer (the “Buyer”), Vacation Trust, Inc.,
a Florida Corporation, as Club Trustee (the “Club Trustee”), U.S. Bank National Association, a national banking
association, as custodian and paying agent (the “Custodian”), Bluegreen Corporation, a Florida corporation,
as servicer (the “Servicer”), and Concord Servicing Corporation, an Arizona corporation, as backup servicer
(the “Backup Servicer”).

 

RECITALS

 

WHEREAS, the Buyer,
the Seller, the Servicer and the Backup Servicer have previously entered into that certain Loan Sale and Servicing Agreement, dated
as of December 22, 2010, as amended by that certain Omnibus Amendment, dated as of May 3, 2011, that certain 1st Commitment Amendment,
dated as of March 1, 2012, that certain 2nd Commitment Amendment, dated as of January 1, 2013, that certain 1st General Amendment,
dated as of April 1, 2014, that certain 3rd Commitment Amendment, dated as of April 1, 2014, that certain 4th Commitment Amendment,
dated as of November 1, 2014, that certain 5th Commitment Amendment, dated as of December 23, 2014, that certain Omnibus Amendment
No 2, dated as of June 30, 2015, that certain 6th Commitment Amendment, dated as of September 18, 2015, and that certain Omnibus
Amendment No. 3, dated as of June 30, 2016 (as may be amended, supplemented or restated from time to time, the “Loan Sale
and Servicing Agreement”).

 

WHEREAS, Standard
Definitions are attached to the Loan Sale and Servicing Agreement at Annex A (the “Standard Definitions”).

 

WHEREAS, the parties
hereto desire to modify the Loan Sale and Servicing Agreement as set forth in this Seventh Amendment.

 

WHEREAS, capitalized
terms used herein not otherwise defined herein shall have the meanings ascribed to such terms in the Loan Sale and Servicing Agreement.

 

NOW, THEREFORE,
in consideration of the mutual covenants and agreements contained herein and other good and valuable consideration, the receipt
and adequacy of which are hereby acknowledged, the parties hereto, intending to be legally bound hereby, agree as follows:

 

1.            Amendment
of Standard Definitions.

 

(a)          The
following definitions shall replace the corresponding definition in the Standard Definitions:

 

    	 	 	1

     

    

 

 

“Commitment Period”
and “Commitment Purchase Period” shall mean the period commencing on July 1, 2015 and continuing until June
30, 2018.

 

2.          Choice
of Law and Venue. This Seventh Amendment shall be construed in accordance with the internal laws of the State of New York.

 

3.          Binding
Effect. This Seventh Amendment shall inure to the benefit of and be binding upon the parties to this Seventh Amendment
and their successors and assigns.

 

4.          Counterpart
Execution. This Seventh Amendment may be executed in counterpart, and any number of copies of this Seventh Amendment which
in the aggregate have been executed by all parties to this Seventh Amendment shall constitute one original.

 

5.          Time
is of the Essence. Time is of the essence in the performance of the obligations in this Seventh Amendment.

 

6.          No
Third Party Beneficiary. No third party shall be a beneficiary hereof.

 

[Signatures Appear on Next Page]

  

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IN WITNESS WHEREOF,
the parties hereto have executed this Seventh Amendment as of the date set forth above.

 

	THE BUYER:	QUORUM FEDERAL CREDIT UNION
	 	 
	 	By:	/s/ Bruno Sementilli
	 	 	Bruno Sementilli,
	 	 	President and CEO
	 	 
	THE SELLER:	BRFC-Q 2010 LLC
	 	 
	 	By:	/s/ Allan J. Herz
	 	 	Allan J. Herz
	 	 	President and Assistant Treasurer
	 	 
	THE SERVICER: 	BLUEGREEN CORPORATION
	 	 
	 	By:	/s/ Paul Humphrey
	 	 	Paul Humphrey
	 	 	Senior Vice President, Finance & Capital Markets
	 	 
	THE BACKUP SERVICER: 	CONCORD SERVICING CORPORATION
	 	 
	 	By:	/s/ Sonja M. Yurkiw
	 	 	Sonja M. Yurkiw, Esq.
	 	 	Vice President & General Counsel
	 	 
	THE CUSTODIAN: 	U.S. BANK NATIONAL ASSOCIATION, not in its individual capacity but solely as Custodian and Paying Agent hereunder
	 	 
	 	By:	/s/ Tim Matyi
	 	 	Tim Matyi
	 	 	Vice President
	 	 
	THE CLUB TRUSTEE:	VACATION TRUST, INC.,
	 	as Club Trustee
	 	 
	 	By:	/s/ Constance G. Dodd
	 	 	Constance G. Dodd
	 	 	President, Treasurer and Secretary

 

    	 	 	3Exhibit 10.47

 

OMNIBUS AMENDMENT NO. 3

 

THIS OMNIBUS AMENDMENT NO. 3, dated
as of June 30, 2016, (this "Amendment"), is entered into by and among the Transaction Parties (defined below)
and relates to the following transaction documents (the "Transaction Documents"): (1) the Purchase and Contribution
Agreement, dated as of December 22, 2010, by and between Bluegreen Corporation ("Bluegreen") and BRFC-Q 2010 LLC
(the "Seller"), as amended by that certain Omnibus Amendment, dated as of May 3, 2011, and that certain Omnibus
Amendment No. 2, dated as of June 30, 2015, by and among the parties named therein (the "Previous Omnibus Amendments")
(the "Purchase Agreement"); (2) the Loan Sale and Servicing Agreement, dated as of December 22, 2010, by and among
the Seller, Quorum Federal Credit Union (the "Buyer"), Bluegreen Corporation, as servicer ("Servicer"),
Vacation Trust, Inc. ("Club Trustee"), Concord Servicing Corporation, as backup servicer (the "Backup
Servicer") and U.S. Bank National Association, as custodian and paying Agent ("Custodian," and together
with the Seller, the Buyer, the Servicer, the Club Trustee and the Backup Servicer, the "Transaction Parties"),
as amended by the Previous Omnibus Amendments, and as further amended by that certain First Commitment Amendment, dated
as of March 1, 2012, that Second Commitment Amendment, dated as of January 31, 2013, that Third Commitment Amendment, dated as
of April 1, 2014, that Fourth Commitment Amendment, dated as of November 1, 2014, that Fifth Commitment Amendment, dated as of
December 23, 2014, and that First General Amendment, dated as of April 1, 2014 (as may be amended, supplemented or restated from
time to time, the "Loan Sale and Servicing Agreement"); (3) the Custodial Agreement, dated as of December 22,
2010, by and among the Buyer, the Seller, the Custodian, the Backup Servicer and the Servicer, as amended by that certain First
Amendment to Custodial Agreement, dated as of May 3, 2011, by and among the parties named therein, and as further amended by the
Previous Omnibus Amendments (the "Custodial Agreement"); and (4) the Backup Servicing Agreement, dated as of December
22, 2010, by and among the Backup Servicer, the Servicer, the Buyer and the Custodian, as amended by the Previous Omnibus Amendments
(the "Backup Servicing Agreement").

 

RECITALS

 

WHEREAS, the
Transaction Parties desire to amend the Standard Definitions attached or incorporated into each of the Transaction Documents in
the manner set forth herein.

 

WHEREAS, the
Transaction Parties desire to amend the Loan Sale and Servicing Agreement, the Purchase Agreement, and certain exhibits attached
thereto in the manner set forth herein.

 

WHEREAS, capitalized
terms used herein not otherwise defined herein shall have the meanings ascribed to such terms in the Loan Sale and Servicing Agreement.

 

NOW, THEREFORE,
in consideration of the mutual covenants and agreements contained herein and other good and valuable consideration, the receipt
and adequacy of which are hereby acknowledged, the Transaction Parties, intending to be legally bound hereby, agree as follows:

 

	Quorum-Bluegreen BRFC Omnibus Amendment No. 3	1

 

     

     

    

 

1.       Amendment
of Standard Definitions. The following definitions shall be deleted or substituted, as applicable, to the Standard Definitions
in Annex A of the Transaction Documents:

 

“Sale Date”
has the meaning set forth in Section 2.1(a) of the Loan Sale and Servicing Agreement.

 

2.       Deletion
of Defined Terms. The defined terms “Expiration of Rescission Period,” “Pre-Funding Conditions,” and
“Settlement and Funding Notice” and the definitions ascribed thereto shall be deleted from the Standard Definitions
in Annex of the Transaction Documents.

 

3.       Section
2.1 of the Loan Sale and Servicing Agreement is hereby deleted in its entirety and replaced with the following:

 

		(a)	General Process. During the Purchase Period, and subject to the terms and conditions of
this Agreement, to initiate a Sale the Seller shall provide the Buyer prior written notice in substantially the form of Exhibit
E hereto (a "Sale Notice") not later than 2:00 p.m. (New York City time) on the date which is no less than
three (3) Business Days prior to the date of a proposed Sale (each such sale date, a "Sale Date"). Such Sale Notice
shall specify (i) the principal amount of the Timeshare Loans and (ii) the proposed Sale Date, which must be a Business Day. The
Buyer may act without liability upon the basis of written notice believed by the Buyer in good faith to be from the Seller (or
from any Authorized Officer thereof designated in writing by the Seller to the Buyer). The Buyer shall be entitled to rely conclusively
on any Authorized Officer's authority to request a sa1e on behalf of the Seller until the Buyer receives written notice to the
contrary. The Buyer shall have no duty to verify the authenticity of the signature appearing on any written Sale Notice. Unless
a Sale Notice is provided by Seller to Buyer as set forth above, the Seller shall not be obligated to sell and the Buyer shall
not be obligated to buy any Timeshare Loans.

 

		(b)	Commitment Period. During the Commitment Period, the Buyer shall be obligated to purchase
Eligible Timeshare Loans from the Seller such that the Buyer's Net Investment Amount equals the Minimum Required Amount subject
only to (i) the Seller offering through a Sale Notice to the Buyer Eligible Timeshare Loans with Loan Balances equal to at least
the Minimum Required Amount and (ii) there being no occurrence and continuance of a Purchase Termination Event. Upon the receipt
of a Sale Notice from the Seller, the Buyer shall confirm, by signing and returning such Sale Notice to the Seller within one Business
Day. The Buyer shall issue a commitment purchase confirmation with such terms as are contained in the form of Exhibit F1
attached hereto and incorporated herein by this reference (a "Buyer Commitment Purchase Confirmation") no later
than 12:00 p.m. (New York City time) on the Business Day prior to the proposed Sale Date that Buyer shall fund in accordance with
the Sale Notice. The Buyer shall deposit the Initial Purchase Price Installment in immediately available funds, no later than 12:00
p.m. (New York City time) on the related Sale Date, to the account designated by the Seller in the Sale Notice. Notwithstanding
the foregoing, the Seller and Buyer hereby covenant and agree that all of the terms of the Buyer Commitment Purchase Confirmation
shall be established in a fully executed commitment purchase period terms letter in the form attached hereto in Exhibit S
(the "Commitment Purchase Period Terms Letter") delivered by Buyer to Seller on the Closing Date.

 

	Quorum-Bluegreen BRFC Omnibus Amendment No. 3	2

 

     

     

    

 

		(c)	After the Commitment Period. After the expiration of the Commitment Period, if the Seller
delivers a Sale Notice to the Buyer and if the Buyer intends to enter into such Sale with the Seller upon such terms, then the
Buyer shall confirm, by signing and returning such Sale Notice to the Seller within one Business Day. The Buyer shall issue a purchase
confirmation in substantially the form in Exhibit F2 attached hereto (a "Buyer Purchase Confirmation")
no later than 12:00 p.m. (New York City time) on the Business Day prior to the proposed Sale Date that Buyer shall fund in accordance
with the Sale Notice. The Buyer Purchase Confirmation shall specify items including the following (w) the Buyer Purchase Price
Percentage, (x) the Initial Purchase Price Installment for such Sale Date Loan Pool, (y) the Program Fee Rate, and (z) any fees
and expenses payable by the Seller to the Buyer. If the Seller decides to reject any Buyer Purchase Confirmation, it must provide
notice to the Buyer no later than 5:00 p.m. (New York City time) on the Business Day prior to the proposed Sale Date. The Buyer
shall deposit the Initial Purchase Price Installment in immediately available funds, no later than 12:00 p.m. (New York City time)
on the related Sale Date, to the account designated by the Seller.

 

4.       Section
7.6 of the Loan Sale and Servicing Agreement is hereby deleted in its entirety and replaced with the following:

 

The Servicer shall maintain access
to all data for which it is responsible (including, without limitation, computerized tapes or disks) relating directly to or maintained
in connection with the servicing of the Timeshare Loans (which data and records shall be clearly marked to reflect that the Timeshare
Loans have been assigned to the Buyer and constitute a portion of the Assets) at the address specified in Section 14.3 hereof or,
upon fifteen (15) days notice to the Seller and the Buyer, at such other place where any Servicing Officer of the Servicer is located
(or upon one (1) Business Day’s prior written notice if a Purchase Termination Event or Servicer Termination Event shall
have occurred).

 

5.       Subparagraph
(q) of Schedule I is deleted in its entirety and replaced with the following:

 

		(q)	the Timeshare Loan was originated, processed, underwritten and closed for sale by the Originator
in the normal course of its business and, unless otherwise waived by the Buyer, as at the Sale Date such Timeshare Loan shall not
have passed the date that is 69 days after the expiration of the statutory rescission period applicable to such loan; and
to Seller's Knowledge, the origination, servicing and collection practices used by Seller or its Affiliates with respect to the
Timeshare Loan have been in all respects, legal, proper, prudent
and customary;

 

	Quorum-Bluegreen BRFC Omnibus Amendment No. 3	3

 

     

     

    

 

6.       The
Sale Notice attached hereto replaces the Sale Notice appearing as Exhibit E to the Loan Sale and Servicing Agreement.

 

7.       Exhibit
R to the Loan Sale and Servicing Agreement is deleted in its entirety and reserved for future use.

 

8.       Except
as specifically set forth herein, this Omnibus Amendment No. 3 shall not modify, alter, change, or affect any of the other terms
or conditions of the Loan Sale and Servicing Agreement.

 

(Signature Page Follows)

 

	Quorum-Bluegreen BRFC Omnibus Amendment No. 3	4

 

     

     

    

 

IN WITNESS WHEREOF,
the parties hereto have executed this Omnibus Amendment 4 as of the date set forth above.

 

	BLUEGREEN:	BLUEGREEN CORPORATION
	 	 
	 	By: 	/s/ Paul Humphrey
	 	Paul Humphrey
	 	Senior Vice President, Finance & Capital Markets
	 	 
	THE BUYER:	QUORUM FEDERAL CREDIT UNION
	 	 
	 	By: 	/s/ Bruno Sementilli
	 	Bruno Sementilli, 
	 	President and CEO
	 	 
	THE SELLER:	BRFC-Q 2010 LLC
	 	 
	 	By: 	/s/ Allan J. Herz
	 	Allan J. Herz 
	 	President and Assistant Treasurer
	 	 
	THE SERVICER: 	BLUEGREEN CORPORATION
	 	 
	 	By: 	/s/ Paul Humphrey
	 	Paul Humphrey
	 	Senior Vice President, Finance & Capital Markets
	 	 
	THE BACKUP SERVICER: 	CONCORD SERVICING CORPORATION
	 	 
	 	By: 	/s/ Sonja M. Yurkiw
	 	Sonja M. Yurkiw, Esq.
	 	Vice President & General Counsel 
	 	 
	THE CUSTODIAN: 	U.S. BANK NATIONAL ASSOCIATION, not in its individual capacity but solely as Custodian and Paying Agent hereunder 
	 	 
	 	By: 	/s/ Michelle Moeller
	 	Michelle Moeller
	 	Vice President
	 	 
	THE CLUB TRUSTEE:	VACATION TRUST, INC.,
	 	as Club Trustee
	 	 
	 	By: 	/s/ Constance G. Dodd
	 	Constance G. Dodd 
	 	President, Treasurer and Secretary

 

	Quorum-Bluegreen BRFC Omnibus Amendment No. 3	5

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