Document:

EXHIBIT 10.1

 

	
   

  	
  UBS AG

  P.O. Box 1964, 9000 St. Gallen

  Tel.  +41-71-221 83 10

   

  www.ubs.com

  

 

Supplement
1

to Master Credit Agreement dated 30  October 2009

 

1.              Borrower

L. Kellenberger & Co. AG

Heiligkreuzstrasse 28

9009 St. Gallen

(hereinafter referred to as the Borrower)

 

2.              Lender

UBS AG

Am Bahnhofplatz

9000 St. Gallen

(hereinafter referred to as UBS)

 

With Master Credit
Agreement dated 30 October 2009  (hereinafter
referred to as the Master Credit Agreement) UBS has granted the Borrower a credit facility in a maximum amount of 7 000 000  CHF.

 

As from the date of signature until 31 August 2013 sections
3, 5 and 7 of the Master Credit Agreement  are replaced, section 15 is amended with cipher 4) and
a new section 7a shall be included in the Master Credit Agreement as follows:

 

3.              Credit
facility

UBS grants the Borrower a credit facility  in a maximum amount of 9 000 000 CHF  

(nine million Swiss Francs) as from the
date of signature until 31 August 2013.

 

5.              Availability

Subject to the terms and conditions of the Master Credit Agreement  this credit facility is available in the following forms:

 

Up to a maximum amount of 5 000 000 CHF

·                      as a current
account overdraft in CHF and/or any freely-available and convertible currency

·                      as UBS fixed
advances with terms of 1 -12 months, but in any case with final maturity of 31
August 2013, in an amount of at least 250 000 CHF and/or in the equivalent in
any freely-available and convertible currency.

 

Up to a maximum amount of 9 000 000 CHF

·                      for issuing
advance payment guarantees in form and substance acceptable to UBS with a
maximum term of one year, for issuing other guarantees with a maximum term of
two years. The issuing of letter of Indemnities is not allowed.

·                      for opening
of documentary credits in a form acceptable to UBS for a period of up to one
year.

 

Upon the Borrower’s request UBS is in exceptional
cases ready to examine the issuing of guarantees and/or documentary credits
with terms exceeding one or two years.

 

1

 

7.              Security

The forms of security listed below shall serve UBS
as security for all claims including all past due and current interest,
commission, etc.:

 

1)                        Transfer of 

mortgage note
(“Namenschuldbrief”) by way of security in the
nominal value of 7 000 000 CHF in 1st
rank of priority, 

mortgage note
(“Namenschuldbrief”) by way of security in the
nominal value of 7 000 000 CHF in 1st rank of priority, 

mortgage note
(“Namenschuldbrief”) by way of security in the
nominal value of 7 000 000 CHF in 1st
rank of priority, 

at Land Register Biel, no. 9443, Mohnweg 5, 2500
Biel/Bienne,

pursuant to the separate form «Transfer of Title
as Collateral», dated 30 October 2009.

 

The above-mentioned securities serve UBS only for
current account overdraft and UBS fixed advances up to a maximum amount of 5
000 000 CHF as from the date of signature until
31 August 2013, thereafter up to a maximum amount of 3 000 000 CHF again.

 

The Master Credit Agreement will be amended with the following terms:

 

7a. Reduction of
credit line/amortization

As per 31 August 2013 the credit facility must be repaid to a maximum
amount of 7 000 000 CHF.

 

15. Information undertaking

In addition to the information undertaking pursuant to section 15 of the
Master Credit Agreement, the Borrower undertakes to furnish UBS with the
following information:

 

4) quarterly update on the
construction projects in Biel and St. Gallen as well as on the sale of land in
Biel,  first due on 30 September 2010.

 

The terms and conditions mentioned in this Supplement 1 to
the Master Credit Agreement will only be
valid as from the date of signature until
31 August 2013.

 

All other terms and conditions of the Master Credit Agreement  to
which this Supplement 1 is an integral
part, shall remain in full force and effect.

 

As of 1 September 2013 this
Supplement 1 to the Master Credit Agreement becomes null and void, and for both parties, the Master Credit Agreement
will be by itself in full force and effect again.

 

2

 

This Supplement 1 to the Master Credit Agreement was executed in two original copies. One copy has  to be
submitted duly signed to UBS in due time.

 

Ref.    F916-JOJ

 

 

	
   

  	
   

  	
  UBS AG

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  St. Gallen, 6 August 2010

  	
   

  	
  /S/ GERHARD
  KOSTER

  	
   

  	
  /S/
  JEANNETTE JOHNER

  
	
  Place/Date

  	
   

  	
  Gerhard
  Koster

  	
   

  	
  Jeannette
  Johner

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  Agreed

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Borrower

  	
   

  	
  L. Kellenberger & Co. AG

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  St. Gallen, 10 August 2010

  	
   

  	
  /S/ JURG KELLENBERGER

  	
   

  	
  /S/ PETER HURSCH

  
	
  Place/Date

  	
   

  	
  Jurg Kellenberger

  	
   

  	
  Peter Hursch

  

 

3Exhibit
10.2

 

 

August 9, 2010

 

Behringer Harvard Opportunity Advisors I, LLC

15601 Dallas Parkway, Suite 600

Addison, Texas 75001

 

Re:                               Deferral of Fees and Cost Reimbursements

 

Ladies and Gentlemen:

 

Reference is made to that certain Amended and
Restated Advisory Agreement, dated as of December 29, 2006, as amended
(the “Advisory Agreement”), by and between Behringer Harvard Opportunity
REIT I, Inc., a Maryland corporation (the “Company”), and Behringer
Harvard Opportunity Advisors I, LLC, a Texas limited liability company (the “Advisor”).  Capitalized terms used herein but not defined
herein shall have the meanings set forth in the Advisory Agreement.

 

In consideration of the mutual agreements and
covenants contained herein, and for other good and valuable consideration, the
receipt and sufficiency of which is hereby acknowledged, the Company and the
Advisor hereby agree as follows:

 

1.                                       Deferral of Asset Management Fees.  Notwithstanding anything to the contrary
contained in the Advisory Agreement, the Advisor, on behalf of itself and its
Affiliates, and its and their respective successors and assigns, hereby defers
until March 31, 2011 the Company’s obligation to pay asset management fees
accrued during the months of May 2010 through October 2010.

 

2.                                       Deferral of Debt Financing Fees.  Notwithstanding anything to the contrary
contained in the Advisory Agreement, the Advisor, on behalf of itself and its
Affiliates, and its and their respective successors and assigns, hereby defers
until March 31, 2011 the Company’s obligation to pay debt financing fees
accrued during the months of July 2010 through October 2010.

 

3.                                       Deferral of Cost Reimbursements.  Notwithstanding anything to the contrary
contained in the Advisory Agreement, the Advisor, on behalf of itself and its
Affiliates, and its and their respective successors and assigns, hereby defers
until March 31, 2011 the Company’s obligation to reimburse expenses paid
or incurred on behalf of the Company accrued during the months of July 2010
through October 2010.

 

4.                                       Ratification; Effect on Advisory Agreement.

 

(a)                                  Ratification.  The Advisory Agreement, as amended by this
letter agreement, shall remain in full force and effect and is hereby ratified
and confirmed in all respects.

 

	
  

  	
   

  	
  

  

 

 

Effect on the Advisory Agreement.  On and after the date hereof,
each reference in the Advisory Agreement to “this Agreement,” “herein,” “hereof,”
“hereunder,” or words of similar import shall mean and be a reference to the
Advisory Agreement as amended hereby.

 

5.                                       Miscellaneous.

 

(a)                                  Governing Law; Venue.  This letter agreement and the legal relations
between the parties hereto shall be construed and interpreted in accordance
with the internal laws of the State of Texas without giving effect to its
conflicts of law principles, and venue for any action brought with respect to
any claims arising out of this letter agreement shall be brought exclusively in
Dallas County, Texas.

 

(b)                                 Modification.  This letter agreement shall not be changed,
modified, or amended, in whole or in part, except by an instrument in writing
signed by both parties hereto, or their respective successors or assignees.

 

(c)                                  Headings.  The titles and headings of the sections and
subsections contained in this letter agreement are for convenience only, and
they neither form a part of this letter agreement nor are they to be used in
the construction or interpretation hereof.

 

(d)                                 Severability.  The provisions of this letter agreement are
independent of and severable from each other, and no provision shall be affected
or rendered invalid or unenforceable by virtue of the fact that for any reason
any other or others of them may be invalid or unenforceable in whole or in
part.

 

(e)                                  Counterparts.  This letter agreement may be executed in
multiple counterparts, each of which shall be deemed to be an original as
against any party whose signature appears thereon, and all of which shall
together constitute one and the same instrument.  This letter agreement shall become binding
when one or more counterparts hereof, individually or taken together, shall
bear the signatures of all of the parties reflected hereon as the
signatories.  This letter agreement, to
the extent signed and delivered by means of electronic mail or a facsimile
machine, shall be treated in all manner and respects as an original agreement
or instrument and shall be considered to have the same binding legal effect as
if it were an original signed version thereof delivered in person.  No party hereto shall raise the use of
electronic mail or a facsimile machine to deliver a signature or the fact that
any signature was transmitted or communicated through the use of electronic
mail or a facsimile machine as a defense to the formation or enforceability of
a contract and each party hereto forever waives any such defense.

 

[The remainder of this page intentionally
blank]

 

2

 

If the foregoing meets with your approval,
please indicate your acceptance of this letter agreement by countersigning a
copy of this letter agreement in the space indicated below.

 

	
   

  	
   

  	
  Very truly yours,

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  BEHRINGER HARVARD OPPORTUNITY REIT
  I, INC.

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
  /s/ Robert S. Aisner

  
	
   

  	
   

  	
   

  	
  Robert S. Aisner

  
	
   

  	
   

  	
   

  	
  Chief Executive Officer and President

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  Acknowledged and agreed, as of

  	
   

  	
   

  
	
  the date first written above:

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  BEHRINGER HARVARD OPPORTUNITY ADVISORS I, LLC

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  By:

  	
  Harvard
  Property Trust, LLC,

  	
   

  	
   

  
	
   

  	
  its
  Manager

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/
  Gary S. Bresky

  	
   

  	
   

  
	
   

  	
   

  	
  Gary
  S. Bresky

  	
   

  	
   

  
	
   

  	
   

  	
  Executive
  Vice President and

  	
   

  	
   

  
	
   

  	
   

  	
  Chief Financial Officer

  	
   

  	
   

  

 

3

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00177-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00177-of-00352.parquet"}]]