Document:

Exhibit 10.82

                         MADATORY DISTRIBUTION AMENDMENT
                          (Code Section 401(a)(31)(B))

                                     TO THE

                  PROTOTYPE DEFINED CONTRIBUTION PLAN AND TRUST

                                  SPONSORED BY

                                  SUNTRUST BANK

<PAGE>

                        MANDATORY DISTRIBUTION AMENDMENT
                          (Code Section 401(a)(31)(B))

                                    ARTICLE I
                            APPLICATION OF AMENDMENT

1.1   Effective Date. Unless a later effective date is specified in Article III
      of this Amendment, the provisions of the Amendment will apply with respect
      to distributions made on or after March 28, 2005.

1.2   Precedence. The requirements of this Amendment will take precedence over
      any Inconsistent provisions of the Plan.

1.3   Adoption by prototype sponsor. Except as otherwise provided herein
      pursuant to Authority granted by section 5.01 of Revenue Procedure
      2000-20, the sponsoring Organization hereby adopts this amendment on
      behalf of all adopting employers.

                                   ARTICLE II
                   DEFAULT PROVISION: LOWER MANDATORY CASH-OUT
                               THRESHOLD TO $1,000

Unless the Employer otherwise elects in Article III of this Amendment, the
provisions of the Plan For the mandatory distribution of amounts not exceeding
$5,000, are amended as follows:

The dollar threshold in such provisions(i.e., $5,000) is reduced to $1,000 and
the value of the Participant's interest in the Plan for such purpose shall
include any rollover contributions (and Earnings thereon) within the meaning of
Code Sections 402(c), 403(a)(4), 403(b)(8), 408(d)(3)(A)(ii), and 457(e)(16).

                                   ARTICLE III
                          ADOPTION AGREEMENT ELECTIONS

3.1   |X|   Effective Date of Plan Amendment.

            This Amendment applies with respect to distributions made on or
            after 3/28/2005 (may be a date later than March 28, 2005, only if
            the terms of the Plan already comply with Code Sections 402(c), 403
            (a)(31)(B)).

3.2   |_|   Election to apply automatic IRA rollover rules.

            IRA rollover of amounts over $1,000. Unless otherwise elected in
                  Article II of this Amendment, the provisions of the Plan
                  concerning mandatory Distributions of amounts under $5,000 are
                  amended as follows:

                  In the event of a mandatory distribution greater than $1,000
                  in accordance with the provisions of the Plan providing for an
                  automatic Distribution to a Participant without the
                  Participant's consent, if the

<PAGE>

                  Participant does not elect to have such distribution paid
                  directly to an "eligible retirement plan" specified by the
                  Participant in a direct rollover (in accordance with the
                  direct rollover provisions of the Plan) or to Receive the
                  distribution directly, then the Administrator shall pay the
                  Distribution in a direct rollover to an individual retirement
                  plan Designated by the Administrator.

3.3   |_|   Election to modify mandatory distribution threshold.

            In lieu of the default provision in Article II of this Amendment (
            which reduces the mandatory distribution threshold to $1,000), the
            provisions of the Plan that provide for the involuntary distribution
            of vested accrued benefits of $5,000 or less, are modified as
            follows:

                  No mandatory distributions. Participant consent to the
                  distribution shall now be required before the distribution may
                  be made.

Except with respect to any election made by the Employer in Article III, this
Amendment is hereby adopted by the protype sponsoring organization on behalf of
all adopting employers on March 3, 2005.

Sponsor Name: SunTrust Bank

By:__________________________________
   Brent D. Breedon, Vice President

NOTE: The Employer only needs to execute this Amendment if the Employer has made
an election in Article III herein.

This amendment is executed as follows:

Name of Plan:________________________________

Name of Employer:

By:_____________________ Date:3/23/05
       EMPLOYERExhibit 10.160

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          THIRD AMENDMENT TO LOAN AGREEMENT AND OTHER LOAN DOCUMENTS
------------------------------------------------------------------------------

      THIS THIRD  AMENDMENT TO LOAN  AGREEMENT  AND OTHER LOAN  DOCUMENTS  (this
"Amendment  Agreement")  dated as of October 21,  2005,  is entered  into by and
between BLUEGREEN CORPORATION OF THE ROCKIES, a Delaware corporation,  BLUEGREEN
GOLF CLUBS,  INC., a Delaware  corporation,  BLUEGREEN  PROPERTIES  OF VIRGINIA,
INC., a Delaware corporation,  BLUEGREEN SOUTHWEST ONE, L.P., a Delaware limited
partnership,  and CATAWBA FALLS, LLC, a North Carolina limited liability company
(collectively  and jointly and severally,  the "Borrower") and RFC  CONSTRUCTION
FUNDING CORP., a Delaware corporation ("Lender") as successor in interest to and
assignee of RESIDENTIAL FUNDING CORPORATION, a Delaware corporation ("RFC").

                                    RECITALS

      This  Amendment  Agreement is entered into upon the basis of the following
facts and  circumstances:

      A. Borrower and RFC, whose  interest has been assigned to Lender,  entered
into a Loan  Agreement  dated as of September 25, 2002 (as the same has been and
may be amended,  supplemented or otherwise modified from time to time, including
any  other   instruments   executed  and   delivered   in  renewal,   extension,
rearrangement  or otherwise in  replacement  of such Loan  Agreement,  the "Loan
Agreement"),  whereby  RFC made a  revolving  loan in the  principal  amount  of
$75,000,000.00  (the  "Loan") to finance  various  residential  acquisition  and
development  projects which the Borrower  anticipates  undertaking.  Capitalized
terms used in this Amendment  Agreement and not otherwise defined shall have the
meanings given those terms in the Loan Agreement.

      B. The Loan is evidenced by, among other documents,  the Loan Agreement, a
Revolving  Promissory Note dated  September 25, 2002 in the principal  amount of
$50,000,000  ("Note A"), a Revolving  Promissory  Note dated May 10, 2005 ("Note
B") (as the same may be amended, supplemented or otherwise modified from time to
time,  including  any other  instruments  executed  and  delivered  in  renewal,
extension,  rearrangement  or otherwise in replacement of such promissory  note,
collectively the "Note") and a Guaranty Agreement dated as of September 25, 2002
("Guaranty").

      C. The Borrower has requested that the Loan Agreement be amended to, among
other things,  remove the Project  Concentration  Limitation  and modify the ABF
Disbursement  Amount and the  Guaranty  be  amended  to  reflect  changes to the
Subrogation language.

                                    AGREEMENT

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      NOW  THEREFORE,  in  consideration  of  the  foregoing  Recitals  and  the
covenants and conditions,  representations and warranties  contained herein, the
parties hereto agree as follows:

Section 1 Amendment to Section 1.1 of the Loan Agreement

      The following definitions in Section 1.1 of the Loan Agreement are deleted
and replaced in their entirety as follows:

"ABF Disbursement Amount" means, on any date of determination,  as determined by
Lender, the amount of the Loan available to be disbursed with respect to the ABF
Collateral, which amount will be equal to the difference of:

            (1)   the lesser of:

                  (A) the Loan Amount;

                  (B) the total  for all  Projects  of,  for each  Project,  the
            lesser of 70% of the ABF Value and 70% of the Value; and

                  (C) 70% of the Approved Costs spent by the Borrower

                  minus

            (2) the ABF Outstanding Amount.

"ABF Value" means, on any date of determination by the Lender, the sum total of,
for each Project,  100% of the Schedule A Value of the Lots; provided,  however,
that Golf Parcels will remain as part of the ABF  Collateral  until  released in
accordance with the terms of the Loan Documents.

"Value"  means 100% of the value which an Appraiser  assigns to a Project or any
part  thereof  as to  which a value  is  being  determined,  as set  forth in an
Appraisal Report and based upon the following:

            (3) the  value of the Land or any  part  thereof  which is part of a
      Project shall be  determined  based on the as-is value of the Land and the
      Development Work; and

            (1) the value of any Lot or Golf Parcel sold or under contract to be
      sold  pursuant to a sales  agreement  shall be  determined  based upon the
      Gross Selling Price set forth in the applicable sales agreement.

Section 2 Deletion of Defined Terms to Section 1.1 of the Loan Agreement

      The following  defined term is hereby deleted from Section 1.1 of the Loan
Agreement for all purposes:

"Project Concentration Limitation"

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Section 3 Amendment to Section 3.3 of the Loan Agreement

      Section 3.3 (b)(2) of the Loan  Agreement  is deleted and  replaced in its
      entirety as follows:

            (2)  Upon  receipt  of  a  complete  and  satisfactory  request  for
      determination  of the ABF Disbursement  Amount,  the Lender will determine
      the ABF Value, and make such adjustments thereto as the Lender determines,
      all in its sole  discretion,  based upon, (i) Lots and Finished Lots which
      have been removed as ABF Collateral, (ii) a materially detrimental change,
      in the  Lender's  reasonable  judgment,  in the  operations  or value of a
      Project which  justifies,  in the Lender's  judgment,  that the Project be
      disregarded for purposes of determining ABF Value, (iii) a Project that is
      disregarded by the Lender for purposes of  determining  ABF Value pursuant
      to Section 6.16,  and (iv) such other  information  which the Lender deems
      relevant.

            Amendment to Section 3.4(3)(A-C) of the Loan Agreement

      Section  3.4(3) (A-C) of the Loan Agreement is deleted and replaced in its
entirety as follows:

            (3) Following the  requested  disbursement  of proceeds of the Loan,
      the ABF Outstanding Amount of the Loan shall not exceed the lesser of:

                  (A) the Loan Amount;

                  (B) the total  for all  Projects  of,  for each  Project,  the
            lesser of 70% of the ABF Value and 70% of the Value; and

                  (C)  70% of the  Approved  Costs  spent  by  the  Borrower  on
            completed Development Work.

Section 4 Amendment to Section 5.5 of the Loan Agreement

      Section  5.5 (2) of the Loan  Agreement  is deleted  and  replaced  in its
      entirety as follows:

            (2) Ratio of Total Liabilities to Net Worth. At all times, the ratio
      of debt of  Bluegreen  Corporation  determined  in  accordance  with  GAAP
      consistently applied on a consolidated basis, not including  non-recourse,
      receivable-backed debt of up to $500,000,000,  and not including,  but not
      limited to  contingent  liabilities,  to its Net  Worth,  shall not exceed
      2.5:1.

Section 5 Amendment to Section 3 of the Guaranty

      Section 3 of the  Guaranty  is  deleted  and  replace in its  entirety  as
follows:

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            The  Guarantor  will not exercise any rights which it may acquire by
      way of  subrogation  under this  Guaranty,  by virtue of any payment  made
      hereunder or otherwise, until all the Indebtedness shall have been paid or
      performed in full.  The Guarantor  shall not accept payment from any other
      party by way of  contribution  on account of any  payment  made under this
      Guaranty by such party to the Lender,  and the Guarantor will not take any
      action to exercise or enforce  any rights to such  contribution  until all
      the Indebtedness  shall have been paid or performed in full. If any amount
      shall be paid to the  Guarantor on account of such  subrogation  rights at
      any time when all the  Indebtedness  shall not have been paid or performed
      in full,  such amount shall be held in trust for the benefit of the Lender
      and shall  forthwith be paid to the Lender to be credited and applied upon
      the  Indebtedness,  whether  matured  or  unmatured,  in such order as the
      Lender, in its sole and absolute discretion,  shall determine. Any lien or
      charge on the Property,  the personal  property  located  thereon,  or the
      revenue and income to be realized therefrom,  and all rights in and to the
      Property  and such  personal  property,  which the  Guarantor  may have or
      obtain as security  for any loans or  advances  shall be, and such lien or
      charge  hereby  is,   subordinated  to  the  Deed  of  Trust  and  to  the
      indebtedness of the Borrower to the Lender under the Note.

Section 6 Representations and Warranties of Borrower

      The  Borrower  represents,  warrants  and agrees that (i) there  exists no
Potential  Default or Event of Default under the Loan  Documents,  (ii) the Loan
Documents continue to be the legal, valid and binding agreements and obligations
of the Borrower  enforceable in accordance with their terms, as modified herein,
(iii) the Borrower is not in default under any of the Loan  Documents,  (iv) the
Borrower has no offset or defense to its performance or obligations under any of
the Loan  Documents,  (v) the  representations  contained in the Loan  Documents
remain true and  accurate in all material  respects,  and (vi) there has been no
Material  Adverse Change from the date of the Loan Agreement to the date of this
Amendment  Agreement.   Lender  acknowledges  that  the  financial  restatements
publicly disclosed in Guarantor's  current report on Form 8-K dated December 19,
2005 will not constitute a breach of Section 4.6 of the Loan  Agreement.  Lender
acknowledges  that Borrower has disclosed to Lender the proceeding  filed by the
State of Tennessee as disclosed in Guarantor's September 30, 2005 Form 10-Q.

Section 7 No Defenses

      The  Borrower  hereby  agrees  and  stipulates  that the  Borrower  has no
defenses,  affirmative defenses,  rights to offset, or counterclaims against the
exercise of any of the rights or remedies of the Lender under the Loan Documents
or under applicable law.

Section 8 Release of Claims Against Lender

      The Borrower hereby  absolutely and  unconditionally  releases and forever
discharges  Lender  and  any  and  all of its  parent  corporations,  subsidiary
corporations,  affiliated corporations,  insurers,  indemnitors,  successors and
assigns, together with all of its present and former directors, officers, agents
and employees from any and all claims,  demands or causes of action of

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<PAGE>

any  kind,  nature  or  description,  whether  arising  in law or equity or upon
contract  or tort or under  any state or  federal  law or  otherwise,  which the
Borrower  has had,  now has or has made claim to have against any such party for
or by reason of any act,  omission,  matter,  cause or thing whatsoever  arising
from the beginning of time to and including the date of this Agreement,  whether
such  claims,  demands and cause of action are matured or  unmatured or known or
unknown.

Section 9 Effect on Loan Documents

      Except as hereby expressly modified, the Loan Documents shall otherwise be
unchanged and shall remain in full force and effect,  and the Borrower  ratifies
and reaffirms all of its obligations thereunder.

Section 10 Execution in Counterpart

      This Amendment Agreement may be executed in any number of counterparts and
by the different parties hereto on separate counterparts,  each of which when so
executed and  delivered  shall be an original,  but all of which shall  together
constitute one and the same instrument.

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<PAGE>

      IN WITNESS  WHEREOF,  Borrower  and Lender have  executed  this  Amendment
Agreement  as of the  date  first  written  above  by  and  through  their  duly
authorized representatives.

                                        BORROWER:

                                        BLUEGREEN CORPORATION OF THE ROCKIES,
                                        a Delaware corporation

                                        By:
                                            ------------------------------------
                                            Anthony Puleo
                                            Treasurer

                                        BLUEGREEN GOLF CLUBS, INC.,
                                        a Delaware corporation

                                        By:
                                            ------------------------------------
                                            Anthony Puleo
                                            Treasurer

                                        BLUEGREEN PROPERTIES OF VIRGINIA, INC.,
                                        a Delaware corporation

                                        By:
                                            ------------------------------------
                                            Anthony Puleo
                                            Treasurer

                                        BLUEGREEN SOUTHWEST ONE, L.P.,
                                        a Delaware limited partnership

                                        By: Bluegreen Southwest Land, Inc.
                                            a Delaware corporation

                                             By:
                                                 -------------------------------
                                                 Anthony Puleo
                                                 Treasurer

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                                   CATAWBA FALLS, LLC,

                                   a North Carolina limited liability company

                                   By: BLUEGREEN CORPORATION,
                                       a Massachusetts corporation,
                                       its sole Member/Manager

                                     By:
                                         -------------------------------
                                         Anthony Puleo
                                         Senior Vice President

                                   LENDER:

                                   RFC CONSTRUCTION FUNDING CORP.,
                                   a Delaware corporation

                                   By:
                                      ------------------------------------------

                                   Printed Name:
                                                --------------------------------

                                   Title:
                                         ---------------------------------------

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                              CONSENT OF GUARANTOR

      The  undersigned  Guarantor  acknowledges  and  consents  to the terms and
conditions of the foregoing  Amendment  Agreement  dated as of May 10, 2005, and
agrees  that the  obligations  to be  incurred  by  Borrower as set forth in the
Amendment  Agreement  constitute  payment  and  performance  obligations  to  be
guaranteed by Guarantor  pursuant to the terms of that certain Guaranty dated as
of September  25, 2002,  executed by Guarantor in favor of  Residential  Funding
Corporation,  a Delaware  corporation  whose  interest has been  assigned to RFC
Construction Funding Corp., a Delaware corporation.

      Dated as of October 21, 2005.

                                      BLUEGREEN CORPORATION,
                                      a Massachusetts corporation

                                      By:
                                          --------------------------------------
                                          Anthony Puleo
                                          Senior Vice President and
                                          Chief Financial Officer

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