Document:

EXHIBIT 4.15
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                     AMENDED AND RESTATED PROMISSORY NOTE

                             "LIHUE TO NORTHBROOK"
                               December 29, 2000
                      (Original Note dated June 2, 2000)

      FOR VALUE RECEIVED, the undersigned, THE LIHUE PLANTATION COMPANY,
LIMITED ("Borrower"), a Hawaii corporation, hereby promises to pay to
Northbrook Corporation, a Delaware corporation ("Payee"), the aggregate
unpaid principal amount as shown either on SCHEDULE 1 attached hereto (and
any continuation thereof) or in the records of the Payee (the "Principal")
ON DEMAND made no earlier than February 28, 2001 (the date of such demand
being the "Maturity Date"), with interest ("Interest") (computed on the
basis of a 365- (or, if applicable, 366-) day year) on the unpaid balance
thereof from time to time at a per annum rate equal to the "Base Rate" as
announced from time to time by Bank of Hawaii plus 1% PER ANNUM (changing
as and when such "Base Rate" changes) from the original date hereof, being
June 2, 2000.  Interest hereunder shall accrue and be payable on February
28, 2001, and thereafter on February, 28, May 31, August 31 and November 30
of each calendar year until the Maturity Date at which time all previously
unpaid accrued interest hereon shall be due and payable; provided, that, if
Borrower shall fail to pay the unpaid balance of the Principal on the
Maturity Date or any installment of Interest provided herein, then Interest
shall accrue on such unpaid amount at the Base Rate, plus 1% PER ANNUM,
until the date upon which such unpaid amount is paid in full; provided,
further, that whenever any payment to be made hereunder shall be due on a
day other than a day when commercial banks are open for normal business in
Chicago, Illinois, such payment shall be made on the next succeeding day
when such banks shall be open (and such extension of time shall be included
in the computation of Interest due on such day). Any accrued and unpaid
Interest on this Note shall be compounded on a monthly basis as of the last
day of each calendar month.

      Payments of Principal and Interest on this Note are to be made in
lawful money of the United States of America at the principal office of
Payee in Chicago, Illinois, and payable to the order of the Payee in same
day funds on the day when due.

      The unpaid principal amount of this Promissory Note may be prepaid in
whole or in part at any time by the Borrower without premium, penalty or
costs whatsoever, provided that all accrued and unpaid interest on the
principal amount so prepaid is paid at such time. In addition, this Note
shall be subject to mandatory prepayment in accordance with the provisions
set forth below.

      THIS NOTE IS GIVEN IN SUBSTITUTION FOR, AND AMENDS AND RESTATES, THAT
CERTAIN PROMISSORY NOTE, DATED AS OF JUNE 2, 2000, MADE BY THE UNDERSIGNED
IN FAVOR OF PAYEE, AS AMENDED BY THAT CERTAIN NOTE EXTENSION AND
MODIFICATION AGREEMENT, DATED AS OF SEPTEMBER 27, 2000.  This Note is
guaranteed by separate Guarantees (the "Guarantees") made by Amfac/JMB
Hawaii, L.L.C., a Hawaii limited liability company (AAHI"), of which
Borrower is an indirect subsidiary, and various direct and indirect
subsidiaries of AHI (each a "Guarantor"), in accordance with a certain
separate Guaranty of Payment made by each Guarantor in favor of Payee,
executed June 26, 2000, but effective as of June 2, 2000. Each such
Guarantee has been ratified and affirmed by each Guarantor in accordance
with that certain Ratification of Guarantees, of even date herewith, made
by the Guarantors in favor of Payee and the holders of additional notes
referred to therein. The Guarantees are secured by, among other things,
mortgages on real property. Borrower hereby covenants and agrees that, from

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and after the date hereof, Borrower shall provide Payee with such
additional security for the Note ("Additional Security") in such amount and
in such form or forms as Payee shall deem acceptable, as Payee may request
in Payee's sole and absolute discretion (provided that Borrower shall not
be required to provide Additional Security that would violate any existing
obligations of Borrower), and Borrower agrees to execute and deliver such
documents as Payee may reasonably require in order to evidence and perfect
Payee's security interest therein.  Borrower and Payee acknowledge and
agree that such Additional Security may be in the form of mortgages on real
or personal property, pledges of interests in corporations, partnerships or
limited liability companies or other securities, or pledges of other assets
as may be identified by Borrower and Payee.  In the event that Borrower
fails to provide such Additional Security in a manner acceptable to Payee
within thirty (30) days after Borrower requests same, Payee may thereafter
declare all Principal and accrued Interest under this Note to be
immediately due and payable, upon written notice to Borrower.

      If any of the following events ("Events of Default") occurs and is
continuing:

      (a)   Borrower fails to pay any Principal or Interest when the same
shall become due and payable, or fails, within five (5) days after the same
becomes due and payable, to pay any Interest hereon;

      (b)   Borrower or any Guarantor fails to make any payment in respect
of any indebtedness for borrowed money (including, without limitation,
under the Indenture) having an aggregate principal amount of more than
$1,000,000 when due (whether by scheduled maturity, required prepayment,
acceleration, demand or otherwise, but subject to any applicable grace
period) or fails to perform or observe any other condition or covenant, or
any other event shall occur or condition shall exist, under any agreement
or instrument relating to any such indebtedness for borrowed money,
(including, without limitation, under the Indenture (as defined below)), if
the effect of such failure, event or condition is to cause such
indebtedness to become due prior to its expressed maturity;

      (c)   Borrower or any Guarantor becomes insolvent or generally fails
to pay, or admits in writing its inability to pay its debts as they become
due; Borrower or any Guarantor applies for a trustee, receiver or other
custodian for it or a substantial part of its property; a trustee, receiver
or other custodian is appointed for Borrower or any Guarantor or for a
substantial part of its property; or any bankruptcy, reorganization, debt
arrangement, or other case or proceeding under any bankruptcy or insolvency
law, or any dissolution or liquidation proceeding, is commenced in respect
of Borrower or any Guarantor;

      (d)   A final judgment or order for the payment of money in excess of
$100,000 shall be rendered against Borrower or any Guarantor and such
judgment or order shall continue unsatisfied and unstayed for a period of
thirty (30) days;

      (e)   The Borrower has received a notice of default by the Trustee
(as defined below) under the Indenture (as defined below), which default is
not cured by the expiration of any applicable cure period provided therefor
in the Indenture, if the effect of such failure, event or condition is to
cause such indebtedness to become due prior to its expressed maturity;

      (f)   Holders of any COLA Units (as defined in the Indenture) or the
Trustee have instituted suit or otherwise brought any action or claim
against the Borrower or any of its affiliates respecting such COLA Units,
which suit, action or claim has not been dismissed, discharged, settled or
otherwise satisfied within sixty (60) days after the institution thereof,
nor has Borrower obtained a third party bond reasonably acceptable to the
Lender to cover the amount demanded by any such suit, action or claim; or,

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      (g)   A default of Borrower or any Guarantor has occurred and is
continuing (beyond any applicable cure period set forth therein) under any
document or instrument provided by Borrower or any Guarantor to Lender as
security for this Note or any Guaranty.

then, in the case of any Event of Default under CLAUSES (c), (e) OR (f)
above, all indebtedness evidenced by this Note and all Interest (including,
without limitation, any deferred Interest) hereon shall automatically be
and become immediately due and payable, and in the case of any other Event
of Default, the holder hereof may, by notice to Borrower, declare all
indebtedness evidenced by this Note and all Interest (including, without
limitation, any deferred Interest) hereon to be forthwith due and payable,
whereupon all indebtedness evidenced by this Note and all such Interest
will become and be forthwith due and payable, all without presentment,
demand, protest or further notice of any kind, all of which are hereby
expressly waived by Borrower.

      Borrower and Payee acknowledge that (i) Borrower's obligations
hereunder constitute "Senior Indebtedness" for purposes of the Indenture,
dated as of March 14, 1989, among Borrower, certain of Borrower's
affiliates, and Bank One, N.A., as successor-in-interest to Continental
Bank, National Association, as trustee, as the same may be amended,
supplemented or otherwise modified from time to time (the "Indenture"); and
(ii) Borrower is issuing this note to Payee in consideration for the
advances made or to be made available by Payee to Borrower to enable
Borrower to refinance a portion of that certain Promissory Note, dated as
of March 16, 2000, made by Borrower in favor of Amfac/JMB Hawaii, L.L.C., a
Hawaii limited liability company ("AHI"), which evidenced a loan from AHI
to fund certain costs of planting, cultivation, or growing crops
(including, without limitation, costs of refinement, procession,
harvesting, shipment and related costs), which costs were, at the time of
the incurrence of such costs, capitalizable under generally accepted
accounting principles, or to fund any such costs directly. Notwithstanding
the foregoing, Payee shall not at any time be under any obligation to make
additional advances under this Note.

      This Note shall be subject to prepayment, at the demand of Payee made
to Borrower at any time thereafter, to the extent of any proceeds from the
Lot 1 and Launiupoko Sales, as defined in that certain Restructuring
Agreement, of even date herewith by and among Borrower, each Guarantor and
certain of their creditors, including Payee, such amount to be paid within
five (5) days after demand therefor is made by Payee. Any amount so prepaid
hereunder shall be apportioned between principal and interest in such
manner that the interest so prepaid shall equal the accrued and previously
unpaid interest on the principal so prepaid.

      Notwithstanding anything to the contrary contained in this Note, no
director, officer or employee of the Borrower shall have any personal
liability of any kind or nature directly or indirectly in connection with
this Note.

      Borrower hereby waives presentment for payment, demand, protest and
notice of dishonor and hereby assents to any extension of the time of
payment, forbearance or other indulgence that may be granted by the Payee,
without notice.  The terms of this Promissory Note may not be modified or
terminated orally, but only by an agreement in writing signed by the party
to be charged.

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<PAGE>

      This Note shall be governed by and construed in accordance with the
laws of the State of Illinois applicable to contracts made and to be wholly
performed in said State, including, but not limited to, the legality of
interest rate.

                                     THE LIHUE PLANTATION COMPANY, LIMITED

                                     By:
                                           ------------------------------
                                     Name:
                                           ------------------------------
                                     Title:
                                           ------------------------------

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                                  SCHEDULE 1

     Attached to Amended and Restated Promissory Note dated December 29,
2000 (original note dated June 2, 2000) of The Lihue Plantation Company,
Limited, payable to the order of Northbrook Corporation.

                              PRINCIPAL PAYMENTS
                              ------------------

             Amount of        Unpaid
             Principal       Interest          Unpaid
             Advanced       as of date        Principal       Notation
Date         (Repaid)       specified)         Balance         Made by
----        ----------      ----------       ----------      ----------
6/2/00     $ 500,000.00
6/27/00    $ 200,000.00
9/27/00    $ 650,000.00
11/21/00   $ 200,000.00
12/15/00                    $ 37,481.54    $ 1,550,000.00EXHIBIT 4.16
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LAND COURT SYSTEM                                REGULAR SYSTEM
AFTER RECORDATION, RETURN BY: [   ] MAIL   [   ] PICKUP
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                               This document contains ____ pages
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Maui Tax Map Key Nos. 4-4-014-002; 4-4-014-004; 4-4-014-005; 4-4-014-006;
and 4-4-014-008

                         ASSIGNMENT OF LOAN DOCUMENTS
                         ----------------------------

      THIS ASSIGNMENT OF LOAN DOCUMENTS ("Assignment") is made as of
September 29, 2000, by TOBISHIMA PACIFIC, INC., a Hawaii corporation, whose
address is 201 E. Sandpointe, Suite 450, Santa Ana, California 92707
("Assignor"), and 900 INVESTMENT MANAGEMENT, L.P., a Delaware limited
partnership, whose address is 900 North Michigan Avenue, Chicago, Illinois
60611 ("Assignee").

                                   RECITALS
                                   --------

      A.    On September 30, 1998, Assignor made a loan to Amfac Property
Investment Corp., a Hawaii corporation (the "Borrower"), in the original
principal amount of $9,600,000.00 (the "Loan"), which Loan is evidenced
and/or secured by the Loan Documents (as defined below) and, as of the date
hereof, is presently outstanding in an aggregate principal balance of
$5,460,000 plus accrued but unpaid interest thereon; and

      B.    Assignor desires to assign, transfer and deliver the Loan
Documents to Assignee, and Assignee desires to acquire the Loan Documents.

      NOW, THEREFORE, in consideration of the sum of Ten and No/100 Dollars
($10.00), the receipt of which is hereby acknowledged, and for other good
and valuable consideration, Assignor hereby assigns to Assignee, without
recourse, all of the right, title and interest of Assignor, as lender,
payee, mortgagee, secured party, holder or other applicable designation (as
the case may be), in, to and under the promissory notes, mortgages,
security instruments and other documents more particularly described in
Schedule 1 attached hereto and by this reference made a part hereof,
together with any and all other documents evidencing and/or securing the
Loan, and all liens, security interests and rights related thereto
(hereinafter collectively referred to as the "Loan  Documents");

      TO HAVE AND TO HOLD the same unto Assignee, its successors and
assigns, absolutely and forever;

      TOGETHER WITH all sums payable under the Loan Documents, including,
without limitation, principal and interest, as they respectively become
due, and the right to enforce the Loan Documents.

      1.    Assignor represents to Assignee that (i) Assignor is the holder
of the Loan Documents, and (ii) there is no outstanding assignment or
pledge thereof or of the sums due or to become due thereunder.

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<PAGE>

      2.    Assignee agrees to assume all obligations and indemnities of
Assignor pursuant to the Loan Documents, including without limitation, all
obligations of Assignor in connection with any indemnities of Assignor to
any third parties under any of the Loan Documents.

      3.    Assignor makes no representation and warranty to Assignee with
respect to, and shall not be responsible to Assignee for, the execution,
effectiveness, genuineness, validity, enforceability, collectibility or
sufficiency of any of the Loan Documents or for any representations,
warranties, recitals or statements made therein or made in any written or
oral statements or in any financial or other statements, instruments,
reports or certificates or any other documents furnished or made by or on
behalf of Borrower or any other Loan Party in connection with the Loan
Documents and the transactions contemplated thereby or for the financial
condition or business affairs of Borrower or any other Loan Party, nor
shall Assignor be required to ascertain or inquire as to (i) the
performance or observance of any of the terms, conditions, provisions,
covenants or agreements contained in any of the Loan Documents, (ii) the
use of the proceeds of the Loan, or (iii) the existence or possible
existence of any Event of Default or Default.

      4.    Assignee represents and warrants that it has received from
Assignor such financial information regarding Borrower as Assignee has
requested, that Assignee has made its own independent investigation of the
financial condition and affairs of Borrower in connection with the
assignment evidenced by this Assignment, and that it has made its own
appraisal of the creditworthiness of Borrower.  Assignor shall have no duty
or responsibility to make any such investigation or any such appraisal on
behalf of Assignee or to provide Assignee with any other credit or other
information with respect thereto, and Assignor shall not have any
responsibility with respect to the accuracy of or the completeness of any
information provided to Assignee.

      5.    Each party to this Assignment represents and warrants to the
other party hereto that it has full power and authority to enter into this
Assignment and to perform its obligations hereunder in accordance with the
provisions hereof, that this Assignment has been duly authorized, executed
and delivered by such party.

      6.    Assignee hereby releases and forever discharges Assignor, its
agents, servants, directors, officers, employees, successors, assigns and
affiliates (all such persons being collectively referred to as the "Related
Persons"), of and from any and all causes of action, demands and remedies
of whatsoever kind and nature that Assignee has or may in the future have
against Assignor or any Related Persons in any manner on account of,
arising out of or related to the Loan assigned hereunder; provided,
however, that the foregoing release shall not apply to any causes of
action, demands and remedies that Assignee has or may in the future have
against Assignor or any Related Person arising out of Assignor's breach of
this Assignment.

      7.    Assignee hereby agrees to indemnify, hold harmless and defend
Assignor and all Related Persons (collectively the "Indemnified Parties"),
from and against any and all losses, causes of action, liabilities, claims,
demands, obligations, damages, costs and expenses (including reasonable
attorneys' and accountants' fees and costs incurred by the Indemnified
Parties in enforcing this indemnity obligation), to which any of the
Indemnified Parties may become subject on account of, arising out of, or
related to any act, omission, conduct or activity of Assignee or any of its
officers, directors, employees, agents, servants, shareholders, successors
or assigns, which act, omission, conduct or activity is on account of,
arises out of or is related to (i) Assignee's breach of this Assignment,
(ii) the Loan, and (iii) the use, ownership, control, operation or
condition of Collateral securing the Loan.

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<PAGE>

      8.    Assignor and Assignee agree that (a) except as expressly
limited in this Assignment, the covenants of the parties herein contained
shall survive the closing of this Assignment, and shall be independently
enforceable, and (b) the representations and warranties of the parties
shall not survive the closing of this Assignment.

      9.    This Assignment shall be construed and interpreted in
accordance with the following definitions and rules of construction:

      (a)   SUCCESSORS:  This Assignment shall be binding upon and shall
inure to the benefit of Assignor and Assignee and their respective
successors and assigns.

      (b)   COUNTERPARTS:  This Assignment may be signed in counterparts.
All of said counterparts taken together shall constitute a single document.

      (c)   GOVERNING LAW:  This Assignment shall be governed by and
interpreted in accordance with the laws of the State of Illinois.

      EXCEPT AS SPECIFICALLY SET FORTH IN PARAGRAPHS 1 AND 6, THIS
ASSIGNMENT IS MADE WITHOUT RECOURSE, REPRESENTATION OR WARRANTY OF ANY
KIND, WHETHER EXPRESS OR IMPLIED, STATUTORY OR OTHERWISE.

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<PAGE>

      IN WITNESS WHEREOF, Assignor and Assignee have executed this
Assignment as of the day and year first above written.

                               900 INVESTMENT MANAGEMENT, L.P.
                               a Delaware limited partnership

                               By:   900 INVESTMENT MANAGEMENT, INC.,
TOBISHIMA PACIFIC, INC.,             a Delaware corporation
a Hawaii corporation                 General Partner

By                             By
      --------------------           --------------------
      Name:                          Name:
      Title:                         Title:
                  Assignor                       Assignee

Acknowledged and Agreed to this
_______ day of ______________, 2000.

AMFAC PROPERTY INVESTMENT CORP.

By    _______________________________
      Name:
      Title:

                                       4

<PAGE>

STATE OF ______________________      )
                                     )  SS.
COUNTY OF ____________________       )

      On this ______ day of _______________, 2000, before me personally
appeared __________________________________________________, to me
personally known, who, being by me duly sworn or affirmed, did say that
such person(s) executed the foregoing instrument as the free act and deed
of such person(s), and if applicable in the capacities shown, having been
duly authorized to execute such instrument in such capacities.

                                     -----------------------------------
                                     Type or print name:
                                     Notary Public, in and for said
                                     State and County

                                     My commission expires: ____________

                                       5

<PAGE>

STATE OF ______________________      )
                                     )  SS.
COUNTY OF ____________________       )

      On this ______ day of _______________, 2000, before me personally
appeared __________________________________________________, to me
personally known, who, being by me duly sworn or affirmed, did say that
such person(s) executed the foregoing instrument as the free act and deed
of such person(s), and if applicable in the capacities shown, having been
duly authorized to execute such instrument in such capacities.

                                     -----------------------------------
                                     Type or print name:
                                     Notary Public, in and for said
                                     State and County

                                     My commission expires: ____________

                                       6

<PAGE>

STATE OF ______________________      )
                                     )  SS.
COUNTY OF ____________________       )

      On this ______ day of _______________, 2000, before me personally
appeared __________________________________________________, to me
personally known, who, being by me duly sworn or affirmed, did say that
such person(s) executed the foregoing instrument as the free act and deed
of such person(s), and if applicable in the capacities shown, having been
duly authorized to execute such instrument in such capacities.

                                     -----------------------------------
                                     Type or print name:
                                     Notary Public, in and for said
                                     State and County

                                     My commission expires: ____________

                                       7

<PAGE>

                                  SCHEDULE 1
                                  ----------

                                LOAN DOCUMENTS

1.    Purchase Money Promissory Note Secured by Mortgage dated
September 30, 1998, executed by Amfac Property Investment Corp. in favor of
Tobishima Pacific, Inc., in the principal amount of $9,600,000.00.

2.    Purchase Money Mortgage, Security Agreement and Financing Statement
dated September 30, 1998, filed in the Office of the Assistant Registrar of
the Land Court of the State of Hawaii as Document No. 2488788, and noted on
Transfer Certificate of Title No. 518,307, executed by Amfac Property
Investment Corp. in favor of Tobishima Pacific, Inc., as affected by
Partial Release of Mortgages dated January 9, 1999 filed as Document No.
2513423, and noted on Transfer Certificate of Title No. 518,306, also
recorded as Document No. 99-005141.

3.    UCC-1 Financing Statement recorded on May 19, 1999 as Document No.
99-079392, executed by Amfac Property Investment Corp. in favor of
Tobishima Pacific, Inc.

                               END OF SCHEDULE 1
                               -----------------

<PAGE>

ENDORSEMENT TO SEPTEMBER 30, 1998 PURCHASE MONEY
PROMISSORY NOTE SECURED BY MORTGAGE
------------------------------------------------

      Pay to the order of 900 Investment Management, L.P., a Delaware
limited partnership.  Except as specifically set forth in that certain
Assignment of Loan Documents dated ________________, 2000, executed by
Tobishima Pacific, Inc., a Hawaii corporation, as Assignor, and 900
Investment Management, L.P., a Delaware limited partnership, as Assignee,
this assignment is made without recourse, representation or warranty of any
kind, whether express or implied, statutory or otherwise.

      Date: ____________________, 2000

                               TOBISHIMA PACIFIC, INC.,
                               a Hawaii corporation

                               By
                                     ------------------------------
                                     Name:
                                     Title:

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