Document:

Exhibit
10.1

THIRD AMENDMENT TO AMENDED AND RESTATED 

REVOLVING
CREDIT AND TERM LOAN AGREEMENT

This
THIRD AMENDMENT TO AMENDED AND RESTATED
REVOLVING CREDIT AND TERM LOAN AGREEMENT (this “Third Amendment”)
is made and entered into as of the 9th day of May, 2007, by and among CASELLA WASTE SYSTEMS, INC., a Delaware
corporation (the “Parent”), its Subsidiaries (other than Excluded
Subsidiaries and the Non-Borrower Subsidiaries) listed on Schedule 1 (as
amended from time to time) to the Credit Agreement defined below (together with
the Parent, collectively the “Borrowers”), each lender from time to time
a party to the Credit Agreement (collectively, the “Lenders” and,
individually, a “Lender”), and BANK OF
AMERICA, N.A., as Administrative Agent, Swing Line Lender and L/C
Issuer.

WHEREAS, the Borrowers, the Lenders and the
Administrative Agent are party to that certain Amended and Restated Revolving
Credit Agreement dated as of April 28, 2005, (as the same may be amended and in
effect from time to time, the “Credit Agreement”), pursuant to which the
Lenders have extended credit to the Borrowers on the terms set forth therein;

WHEREAS, in accordance with Section 2.14 of
the Credit Agreement, the Borrowers requested and received an increase of
$100,000,000 to their credit facilities effective July 25, 2006 of which
$90,000,000 was in the form of a Term B Loan and $10,000,000 was used to
increase the Commitment amount;

WHEREAS, the Borrowers have requested that
the Lenders and the Administrative Agent increase the credit facilities by an
additional $75,000,000, reset the accordion amount in Section 2.14 of the
Credit Agreement and make certain other amendments to the Credit Agreement,;

WHEREAS, an existing Lender has notified
the Administrative Agent and the Borrowers that it will withdraw as a Lender
under the Credit Agreement (the “Withdrawing Lender”) as of the
Amendment Date (as defined below) and, as a result, the Aggregate Commitments
will be reduced by $10,000,000 to a total of $350,000,000 and the aggregate
Term B Loans will be $175,000,000;

WHEREAS, each of the Revolving Lenders
(other than the Withdrawing Lender) wishes to remain a party to the Credit
Agreement and maintain its respective Commitment amount, and as a result of the
reduction of the Aggregate Commitments, the Revolving Percentage of each
Revolving Lender will be adjusted accordingly as more fully set forth on
revised Schedule 2.01 attached hereto; and each of the Term B Lenders
wishes to remain a party to the Credit Agreement and maintain (or, as applicable,
increase) its respective Term B Loan amount and Term B Loan Percentage (each
such Revolving Lender and Term B Lender, the “Continuing Lenders”); and

WHEREAS, the Continuing Lenders and the
Administrative Agent are willing to increase the credit facilities and amend
the Credit Agreement on the terms set forth herein;

NOW, THEREFORE, in consideration of the
foregoing, and for other good and valuable consideration, the receipt and
sufficiency of which are hereby acknowledged, the parties agree as follows:

1.             Definitions.  Capitalized terms used herein without
definition shall have the meanings assigned to such terms in the Credit
Agreement.

2.             Increase in Facility
Amount.  Upon the satisfaction of the
conditions set forth in Section 13(a) below, the credit facilities shall be
increased by $75,000,000 (the “Facility Increase”) up to $525,000,000,
as set forth in revised Schedule 2.01 attached hereto, and the accordion
in Section 2.14 of the Credit Agreement shall be reset to $50,000,000, allowing
for a maximum facility amount of $575,000,000.

3.                                      Amendments
to Section 1.01 of the Credit Agreement.

(a)           Section 1.01 of the
Credit Agreement is hereby amended by (i) deleting the three columns relating
to the pricing of the Committed Loans in their entirety from the table
contained in the definition of “Applicable Rate”, (ii) labeling the existing
table as “Table 1” in the definition of “Applicable Rate” and (iii) inserting a
new table following the existing table in the definition of “Applicable Rate”
as set forth below:

Table
2

Applicable
Rate

	
  

  	
   

  	
  Ratio of Consolidated Total

  	
   

  	
  Committed Loans

  	
   

  
	
  Level

  	
   

  	
  Funded Debt to Consolidated

  EBITDA

  	
   

  	
  Base Rate

  Loans

  	
   

  	
  Eurodollar

  Rate Loans

  	
   

  	
  Commitment

  Fee

  	
   

  
	
  I

  	
   

  	
  Less
  than 3.00:1.00

  	
   

  	
  0.00

  	
  %

  	
  1.25

  	
  %

  	
  0.250

  	
  %

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  II

  	
   

  	
  Greater
  than or equal to 3.00:1.00

  and less than 3.50:1.00

  	
   

  	
  0.00

  	
  %

  	
  1.50

  	
  %

  	
  0.250

  	
  %

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  III

  	
   

  	
  Greater
  than or equal to 3.50:1.00

  and less than 4.00:1.00

  	
   

  	
  0.00

  	
  %

  	
  1.75

  	
  %

  	
  0.375

  	
  %

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  IV

  	
   

  	
  Greater
  than or equal to 4.00:1.00

  and less than 4.50:1.00

  	
   

  	
  0.25

  	
  %

  	
  2.00

  	
  %

  	
  0.375

  	
  %

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  V

  	
   

  	
  Greater
  than or equal to 4.50:1.00

  and less than 5.00:1.00

  	
   

  	
  0.25

  	
  %

  	
  2.25

  	
  %

  	
  0.375

  	
  %

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  VI

  	
   

  	
  Greater
  than or equal to 5.00:1.00

  	
   

  	
  0.50

  	
  %

  	
  2.50

  	
  %

  	
  0.500

  	
  %

  

 

 2
 

(b)           Section 1.01 of the
Credit Agreement is hereby amended by deleting the words “Pricing Level V” from
the first sentence of the first full paragraph following the table contained in
the definition of “Applicable Rate” and substituting in lieu thereof the
following words: “Pricing Level VI (as set forth in Table 1 for Term B Loans
and in Table 2 for Committed Loans)”.

(c)           The definition of the
term “Consolidated Adjusted Net Income” in Section 1.01 of the Credit Agreement
is hereby amended by deleting it in its entirety and substituting in lieu thereof
the following:

“‘Consolidated Adjusted Net Income’ means, for
any period, Consolidated Net Income (or Loss) plus, to the extent
deducted and without duplication, (a) adjustments for non-cash, non-recurring
charges related to losses from asset impairment charges or resulting from sales
of the Specified Entities or their assets up to an aggregate amount of
$15,000,000, (b) the non-recurring, non-cash write-off of debt issuance
expenses related to the refinancing of Indebtedness under the Existing Credit
Agreement, such write-off not to exceed $4,000,000; (c) charges incurred by the
Borrowers in connection with unsuccessful landfill development and composting
projects up to an aggregate of $3,000,000, (d) charges and related costs
incurred by the Borrowers with respect to the closure, capping and post closure
monitoring of the landfill known as the “Hardwick Landfill” up to an aggregate
amount of $26,000,000, (e) non-cash asset impairment charges with respect to
the sale or impairment of certain assets and businesses located in the
Commonwealth of Massachusetts and the State of New York up to an aggregate
amount of $20,000,000, (f) severance payments incurred by the Borrowers up to
an aggregate amount of $500,000 and (g) bad debt charges incurred by the Borrowers
up to an aggregate amount of $2,000,000.”

(d)           The definition of the
term “Consolidated Net Worth” in Section 1.01 of the Credit Agreement is hereby
amended by deleting it in its entirety and substituting in lieu thereof the
following:

“‘Consolidated Net Worth’ means the excess of
Consolidated Total Assets over Consolidated Total Liabilities plus,
without duplication, (i) the liquidation value of the issued and outstanding
Series A Preferred Stock and (ii) for the current period and any prior period, the
items identified in clauses (d), (e), (f), and (g) of the definition of
Consolidated Adjusted Net Income less, to the extent otherwise
includable in the computations of Consolidated Net Worth, any subscriptions
receivable, provided that, commencing on the first day of the second
fiscal quarter of the Borrowers commencing on or about August 1, 2006, the
liquidation value of the issued and outstanding Series A Preferred Stock shall
not be included in the calculation of Consolidated Net Worth.”

(e)            The definition of the
term “Consolidated Total Interest Expense” in Section 1.01 of the Credit
Agreement is hereby amended by deleting the word “and” before

 3
 

clause “(b)” and
inserting at the end of clause “(b)” the following clause:  “, and (c) dividends on preferred stock paid
by the Borrowers which are required by GAAP to be treated as interest expense.”

(f)            The definition of the
term “Loan” in Section 1.01 of the Credit Agreement is hereby amended by
deleting it in its entirety and substituting in lieu thereof the following:

“‘Loan’ means an extension of credit by a
Lender to the Borrower under Article II in the form of a Committed Loan
or a Swing Line Loan or, to the extent applicable, any Term B Loan advanced
pursuant to Section 2.14 hereof or otherwise advanced to the Borrowers
in connection with any increase thereof.”

(g)           The definition of the
term “Term B Lender” in Section 1.01 of the Credit Agreement is hereby amended
by deleting it in its entirety and substituting in lieu thereof the following:

“‘Term B Lender’
means the Lenders holding a portion of the Term B Loan as shall be set forth in
Schedule 2.01 to this Agreement (as such Schedule 2.01 may be amended from time
to time), together with any other Person who becomes an assignee of any rights
and obligations of a Term B Lender.”

(h)           The definition of the
term “Term B Loan” in Section 1.01 of the Credit Agreement is hereby amended by
deleting it in its entirety and substituting in lieu thereof the following:

“‘Term B Loan’
shall mean and include any amounts advanced as a term loan pursuant to Section
2.14(a)(ii) of this Agreement and any other amounts which are advanced from
time to time hereunder as a Term B Loan.”

4.             Amendments to Section
2.14 of the Credit Agreement. 
Section 2.14 of the Credit Agreement is hereby amended by:

(a)           deleting the amount “$100,000,000”
from subsection (a)(i) of such Section in its entirety and substituting in lieu
thereof the following amount “$50,000,000”;

(b)           deleting the words “request
a term loan (the “Term B Loan”)” from subsection (a)(ii) of such Section
in their entirety and substituting in lieu thereof the following words “request
an increase in the Term B Loan”;

(c)           deleting the amount “$100,000,000”
from subsection (a)(ii) of such Section in its entirety and substituting in
lieu thereof the following amount “$50,000,000”; and

(d)           deleting the amount “$450,000,000”
from subsection (a) of such Section in its entirety and substituting in lieu
thereof the following amount “$575,000,000”.

5.             Amendment to Section
7.06 of the Credit Agreement.  Clause (i) contained in Section
7.06 of the Credit Agreement is hereby amended by deleting such clause in its
entirety and substituting in lieu thereof the following:

 4
 

“(i)          redeem the Series A
Preferred Stock for a price not to exceed $77,000,000; and”.

6.             Amendments to Section
7.11(a) of the Credit Agreement. 
Section 7.11(a) of the Credit Agreement is hereby amended by deleting
such Section in its entirety and substituting in lieu thereof the following:

“(a)         Interest Coverage
Ratio.  As at the end of any fiscal
quarter, the Borrowers shall not permit the ratio of (a) Consolidated EBITDA
for the period of four (4) consecutive fiscal quarters then ending to (b)
Consolidated Total Interest Expense for such period to be less than (i) 2.50:1.00
for the fiscal quarter ending on April 30, 2007, (ii) 2.25:1.00 for the fiscal
quarter ending on July 31, 2007, (iii) 2.15:1.00 for the fiscal quarter ending
on October 31, 2007 through and including October 31, 2008 and (iv) 2.25:1.00
for the fiscal quarter ending on  January
31, 2009 and every fiscal quarter thereafter.”

7.             Amendments to Section 7.11(b) of the Credit Agreement.  Section 7.11(b) of the Credit Agreement is
hereby amended by deleting such Section in its entirety and substituting in lieu
thereof the following:

“(b)         Consolidated Total
Funded Debt to Consolidated EBITDA. 
As at the end of any fiscal quarter, the Borrowers shall not permit the
ratio of (a) Consolidated Total Funded Debt as of such date to (b) Consolidated
EBITDA for the period of four (4) consecutive fiscal quarters then ending to
exceed (i) 5.25:1.00 for the fiscal quarter ending on April 30, 2007, (ii)
5.50:1.00 for the fiscal quarter ending on July 31, 2007, (iii) 5.75:1.00 for
the fiscal quarters ending on October 31, 2007 through and including the fiscal
quarter ending on April 30, 2008, (iv) 5.50:1.00 for the fiscal quarters ending
on July 31, 2008 and October 31, 2008, (v) 5.25:1.00 for the fiscal quarters
ending on January 31, 2009 and April 30, 2009, (vi) 5.00:1.00 for the fiscal
quarters ending on July 31, 2009 and October 31, 2009, and (vii) 4.75:1.00 for
the fiscal quarter ending on January 31, 2010 and every fiscal quarter
thereafter.”

8.             Amendments to Section 7.11(c) of the Credit Agreement.  Section 7.11(c) of the Credit Agreement is
hereby amended by deleting such Section in its entirety and substituting in
lieu thereof the following:

“(c)         Consolidated Senior
Funded Debt to Consolidated EBITDA. 
As at the end of any fiscal quarter, the Borrowers shall not permit the
ratio of (a) Consolidated Senior Funded Debt as of such date to (b)
Consolidated EBITDA for the period of four (4) consecutive fiscal quarters then
ending to exceed (i) 3.50:1.00 for the fiscal quarter ending on April 30, 2007,
(ii) 3.75:1.00 for the fiscal quarter ending on July 31, 2007, (iii) 3.85:1.00
for the fiscal quarters ending on October 31, 2007 through and including the
fiscal quarter ending on April 30, 2008, (iv) 3.60:1.00 for the fiscal quarters
ending on July 31, 2008 and October 31, 2008, and (v) 3.35:1.00 for the fiscal
quarter ending on January 31, 2009 and every fiscal quarter thereafter.”

9.             Amendment to Schedule
2.01 of the Credit Agreement. 
Schedule 2.01 of the Credit Agreement is hereby amended by deleting such
Schedule in its entirety and substituting in lieu thereof revised Schedule
2.01 attached hereto.

 5
 

10.          Omnibus Amendment.  Each reference in the Credit Agreement and
any other Loan Document, including, without limitation, the Pledge Agreement,
the Security Agreement, the Notes and the Subordination Agreement, to the “Amended
and Restated Revolving Credit Agreement” or the “Amended and Restated Credit
Agreement” shall be deemed to be a reference to the “Amended and Restated
Revolving Credit and Term Loan Agreement”.

11.          Amendment Fee.  The Borrowers hereby promise to pay to each
existing Lender which consents to this Third Amendment on or before the
Amendment Date, in consideration of each such Lender entering into this Third
Amendment, a fee in an amount equal to five (5) basis points on the aggregate
of such existing Lender’s Commitment and its existing outstanding amount of the
Term B Loan (the “Amendment Fees”), provided that each existing
Revolving Lender shall be required to consent to all of the provisions of this
Third Amendment, including those requiring the affirmative vote of 100% of the
Revolving Lenders in order to be eligible to receive the Amendment Fee.  The Amendment Fees shall be fully-earned as
of the Amendment Date (as herein defined) and shall be non-refundable.

12.          No Waiver.  Except as a result of the amendments set
forth in §§ 2 through 10 of this Third Amendment, nothing contained herein
shall be deemed to (i) constitute a waiver of any Default or Event of Default
that may heretofore or hereafter occur or have occurred and be continuing or to
otherwise modify any provision of the Credit Agreement, or (ii) give rise to
any defenses or counterclaims to the Administrative Agent’s or any of the
Lenders’ right to compel payment of the Obligations when due or to otherwise
enforce their respective rights and remedies under the Credit Agreement and the
other Loan Documents.

13.          Conditions to
Effectiveness.

(a)  This Third Amendment (except for Section 3(a)
hereof) shall become effective as of the date (the “Amendment Date”)
when each of the following conditions is met:

(1)           receipt by the
Administrative Agent of this Third Amendment duly and properly authorized,
executed and delivered by the Borrowers and the Required Lenders;

(2)           receipt by the
Administrative Agent of payment in cash of the fees in the amounts specified in
the Fee Letter dated April 30, 2007, by and between the Borrowers, the
Administrative Agent and the Arranger;

(3)           without duplication of
amounts paid pursuant to clause (2) above, receipt by the Administrative Agent,
for the benefit of the consenting Lenders, of the Amendment Fees required in
Section 11 above;

(4)           payment of all of the
Administrative Agent’s reasonable legal fees and expenses incurred in
connection with the preparation and negotiation of this Third Amendment;

(5)           receipt by the
Administrative Agent of a certificate dated as of the Amendment Date signed by
a Responsible Officer of the Parent certifying and attaching

 6
 

the
resolutions adopted by each of the Borrowers approving the Facility Increase,
and authorizing such Borrower to enter into this Third Amendment;

(6)            receipt by the
Administrative Agent of a certificate dated as of the Amendment Date signed by
a Responsible Officer of the Parent certifying that before and after giving effect
to the Facility Increase and this Third Amendment, (i) the applicable
conditions set forth in Sections 4.02(a) and (b) of the Credit Agreement will
be satisfied and (ii)(A) the Term B Loan, as increased hereby, is permitted
senior Indebtedness under the existing Senior Subordinated Debt Documents and
(B) no default under the existing Senior Subordinated Debt Documents has
occurred and is continuing or would result after giving effect to the
transactions contemplated by the Loans;

(7)           receipt by the Administrative
Agent, upon the request of any Lender, of a Note evidencing such Lender’s
portion of the Term B Loan or any increase in its Commitment duly and properly
authorized, executed and delivered by the Borrowers;

(8)           receipt by the
Administrative Agent of a pro-forma Compliance Certificate reflecting
compliance with Section 7.11 of the Credit Agreement after giving effect to the
Facility Increase and this Third Amendment; and

(9)           payment in full of the
Withdrawing Lender’s outstanding principal amount and any accrued interest and
other fees due to the Withdrawing Lender under its Committed Loan as of the
Amendment Date.

(b)  Section 3(a) of this Third Amendment shall
become effective as of the date when each of the following conditions is met:

(1)           all of the conditions
of Section 13(a) hereof have been met; and

(2)           receipt by the
Administrative Agent of the consent of all of the existing Revolving Lenders
(other than the Withdrawing Lender).

14.          Representations and
Warranties.  The Borrowers represent
and warrant to the Administrative Agent and the Lenders as follows:

(a)           The execution, delivery
and performance of this Third Amendment and the transactions contemplated
hereby (i) are within the corporate (or the equivalent company or partnership)
authority of each of the Borrowers, (ii) have been duly authorized by all
necessary corporate (or other) proceedings, (iii) do not conflict with or
result in any material breach or contravention of any provision of law,
statute, rule or regulation to which any of the Borrowers is subject or any
judgment, order, writ, injunction, license or permit applicable to any of the
Borrowers so as to materially adversely affect the assets, business or any
activity of the Borrowers, and (iv) do not conflict with any provision of the
corporate charter, articles or bylaws (or equivalent other company or
partnership documents) of the Borrowers or any agreement or other instrument
binding upon the Borrowers, including, without limitation, the Indenture.

 7
 

(b)           The execution, delivery
and performance of this Third Amendment will result in valid and legally
binding obligations of the Borrowers enforceable against each in accordance
with the respective terms and provisions hereof and thereof, except as
enforceability is limited by bankruptcy, insolvency, reorganization, moratorium
or other laws relating to or affecting generally the enforcement of creditors’
rights and except to the extent that availability of the remedy of specific
performance or injunctive relief or other equitable remedy is subject to the
discretion of the court before which any proceeding therefor may be brought.

(c)           The execution, delivery
and performance by the Borrowers of this Third Amendment and the transactions
contemplated hereby do not require any approval or consent of, or filing with,
any governmental agency or authority other than those already obtained, if any.

(d)           The representations and
warranties contained in Article V of the Credit Agreement are true and correct
in all material respects as of the date hereof as though made on and as of the
date hereof, except to the extent that such representations and warranties
specifically refer to an earlier date, in which case they shall be true and
correct as of such earlier date and except to the extent of changes resulting
from transactions contemplated or permitted by this Agreement (as amended by
the Third Amendment) and changes occurring in the ordinary course of business
which singly or in the aggregate do not have a Material Adverse Effect.  For purposes of this Section 14(d), the
representations and warranties contained in Section 5.05(a) of the
Credit Agreement shall be deemed to refer to the most recent statements
furnished pursuant to Section 6.04(a) of the Credit Agreement.

(e)           After giving effect to
this Third Amendment, no Default or Event of Default under the Credit Agreement
has occurred and is continuing.

15.          Ratification, etc.  Except as expressly amended hereby, the
Credit Agreement, the other Loan Documents and all documents, instruments and
agreements related thereto are hereby ratified and confirmed in all respects
and shall continue in full force and effect. 
This Third Amendment and the Credit Agreement shall hereafter be read
and construed together as a single document, and all references in the Credit
Agreement, any other Loan Document or any agreement or instrument related to
the Credit Agreement shall hereafter refer to the Credit Agreement as amended
by this Third Amendment.

16.          Governing Law.  THIS THIRD AMENDMENT SHALL BE GOVERNED BY AND
CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE COMMONWEALTH OF MASSACHUSETTS.

17.          Counterparts.  This Third Amendment may be executed in any
number of counterparts and by different parties hereto on separate
counterparts, each of which when so executed and delivered shall be an
original, but all of which counterparts taken together shall be deemed to
constitute one and the same instrument. 
Delivery of an executed counterpart of a signature page of this Third
Amendment by telecopy shall be as effective as delivery of an original executed
counterpart of this Third Amendment.

18.          Copy of Conformed Credit
Agreement.  A copy of the conformed
Credit Agreement incorporating the First Amendment to Amended and Restated
Revolving Credit

 8
 

Agreement,
dated as of June 2, 2006, the Conforming Amendment to Amended and Restated
Revolving Credit Agreement, dated as of July 25, 2006 and this Third Amendment
is attached hereto as Exhibit A.

[REMAINDER OF PAGE INTENTIONALLY LEFT
BLANK]

 9

IN WITNESS WHEREOF,
each of the undersigned has duly executed this Third Amendment to Amended and
Restated Revolving Credit and Term Loan Agreement as a sealed instrument as of
the date first set forth above.

	
  

  	
  BORROWERS:

  
	
   

  	
   

  
	
   

  	
  CASELLA WASTE SYSTEMS, INC.

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Richard A.
  Norris

  	
   

  
	
   

  	
   

  	
  Name:

  	
  Richard A. Norris

  	
   

  
	
   

  	
   

  	
  Title:

  	
  Senior Vice President and

  Chief Financial Officer

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  ALL CYCLE WASTE, INC.

  
	
   

  	
  ATLANTIC COAST FIBERS, INC.

  
	
   

  	
  B. AND C. SANITATION CORPORATION

  
	
   

  	
  BLASDELL DEVELOPMENT GROUP,
  INC.

  
	
   

  	
  BRISTOL WASTE MANAGEMENT, INC.

  
	
   

  	
  CASELLA TRANSPORTATION, INC.

  
	
   

  	
  CASELLA WASTE MANAGEMENT OF

  MASSACHUSETTS, INC.

  
	
   

  	
  CASELLA WASTE MANAGEMENT OF
  N.Y., INC.

  
	
   

  	
  CASELLA WASTE MANAGEMENT OF

  
	
   

  	
  PENNSYLVANIA, INC.

  
	
   

  	
  CASELLA WASTE MANAGEMENT, INC.

  
	
   

  	
  C.V. LANDFILL, INC.

  
	
   

  	
  FOREST ACQUISITIONS, INC.

  
	
   

  	
  GRASSLANDS, INC.

  
	
   

  	
  HAKES C & D DISPOSAL, INC.

  
	
   

  	
  HARDWICK LANDFILL, INC.

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Richard A.
  Norris

  	
   

  
	
   

  	
   

  	
  Name:

  	
  Richard A. Norris

  	
   

  
	
   

  	
   

  	
  Title:

  	
  Vice President and Treasurer

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
  [SIGNATURES
  CONTINUED ON

  FOLLOWING PAGE]

  	
   

  

 

Signature Page to Third Amendment to A&R Credit
Agreement

 

	
  

  	
  HIRAM HOLLOW REGENERATION
  CORP.

  
	
   

  	
  K-C INTERNATIONAL, LTD.

  
	
   

  	
  KTI BIO-FUELS, INC.

  
	
   

  	
  KTI ENVIRONMENTAL GROUP, INC.

  
	
   

  	
  KTI NEW JERSEY FIBERS, INC.

  
	
   

  	
  KTI OPERATIONS, INC.

  
	
   

  	
  KTI SPECIALTY WASTE SERVICES,
  INC.

  
	
   

  	
  KTI, INC.

  
	
   

  	
  MECKLENBURG COUNTY RECYCLING,
  INC.

  
	
   

  	
  NATURAL ENVIRONMENTAL, INC.

  
	
   

  	
  NEW ENGLAND WASTE SERVICES OF

  MASSACHUSETTS, INC.

  
	
   

  	
  NEW ENGLAND WASTE SERVICES OF
  ME, INC.

  
	
   

  	
  NEW ENGLAND WASTE SERVICES OF
  N.Y., INC.

  
	
   

  	
  NEW ENGLAND WASTE SERVICES OF

  VERMONT, INC.

  
	
   

  	
  NEW ENGLAND WASTE SERVICES,
  INC.

  
	
   

  	
  NEWBURY WASTE MANAGEMENT, INC.

  
	
   

  	
  NORTH COUNTRY ENVIRONMENTAL
  SERVICES,

  INC.

  
	
   

  	
  NORTHERN PROPERTIES
  CORPORATION OF

  PLATTSBURGH

  
	
   

  	
  NORTHERN SANITATION, INC.

  
	
   

  	
  PERC, INC.

  
	
   

  	
  PINE TREE WASTE, INC.

  
	
   

  	
  R.A BRONSON, INC.

  
	
   

  	
  RESOURCE RECOVERY SYSTEMS OF

  SARASOTA, INC.

  
	
   

  	
  RESOURCE TRANSFER SERVICES,
  INC.

  
	
   

  	
  RESOURCE WASTE SYSTEMS, INC.

  
	
   

  	
  SCHULTZ LANDFILL, INC.

  
	
   

  	
  SOUTHBRIDGE RECYCLING & DISPOSAL PARK,

  INC.

  
	
   

  	
  SUNDERLAND WASTE MANAGEMENT, INC.

  
	
   

  	
  WASTE-STREAM, INC.

  
	
   

  	
  WESTFIELD DISPOSAL SERVICES,
  INC

  
	
   

  	
  WINTERS BROTHERS, INC.

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Richard A.
  Norris

  	
   

  
	
   

  	
   

  	
  Name:

  	
  Richard A. Norris

  	
   

  
	
   

  	
   

  	
  Title:

  	
  Vice President and Treasurer

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
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  CASELLA RTG INVESTORS CO., LLC

  
	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
  Casella Waste Systems, Inc., its sole

  
	
   

  	
   

  	
  member

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
  /s/ Richard A. Norris

  	
   

  
	
   

  	
   

  	
   

  	
  Name:

  	
  Richard A. Norris

  	
   

  
	
   

  	
   

  	
   

  	
  Title:

  	
  Senior Vice President and

  Chief Financial Officer

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  THE HYLAND FACILITY ASSOCIATES

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Richard A. Norris

  	
   

  
	
   

  	
   

  	
  Name:

  	
  Richard A. Norris

  	
   

  
	
   

  	
   

  	
  Title:

  	
  Duly Authorized Agent

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  MAINE ENERGY RECOVERY COMPANY,

  LIMITED PARTNERSHIP

  
	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
  KTI Environmental Group, Inc., its general

  partner

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
  /s/ Richard A. Norris

  	
   

  
	
   

  	
   

  	
   

  	
  Name:

  	
  Richard A. Norris

  	
   

  
	
   

  	
   

  	
   

  	
  Title:

  	
  Vice President and Treasurer

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
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  PERC MANAGEMENT COMPANY, Limited

  
	
   

  	
   

  
	
   

  	
  Partnership

  
	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
  PERC, Inc., its general partner

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
  /s/ Richard A. Norris

  	
   

  
	
   

  	
   

  	
   

  	
  Name:

  	
  Richard A. Norris

  	
   

  
	
   

  	
   

  	
   

  	
  Title:

  	
  Vice President and Treasurer

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  CWM ALL WASTE LLC

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Richard A. Norris

  	
   

  
	
   

  	
   

  	
  Name:

  	
  Richard A. Norris

  	
   

  
	
   

  	
   

  	
  Title:

  	
  Duly Authorized Agent

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  GROUNDCO LLC

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Richard A. Norris

  	
   

  
	
   

  	
   

  	
  Name:

  	
  Richard A. Norris

  	
   

  
	
   

  	
   

  	
  Title:

  	
  Duly Authorized Agent

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
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  NEWSME LANDFILL OPERATIONS LLC

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Richard A.
  Norris

  	
   

  
	
   

  	
   

  	
  Name:

  	
  Richard A. Norris

  	
   

  
	
   

  	
   

  	
  Title:

  	
  Duly Authorized Agent

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
  ROCKINGHAM SAND & GRAVEL, LLC

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Richard A.
  Norris

  	
   

  
	
   

  	
   

  	
  Name:

  	
  Richard A. Norris

  	
   

  
	
   

  	
   

  	
  Title:

  	
  Duly Authorized Agent

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
  TEMPLETON LANDFILL LLC

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Richard A.
  Norris

  	
   

  
	
   

  	
   

  	
  Name:

  	
  Richard A. Norris

  	
   

  
	
   

  	
   

  	
  Title:

  	
  Duly Authorized Agent

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  

  	
  CASELLA MAJOR ACCOUNT SERVICES LLC

  
	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
  Casella Waste Systems, Inc., its

  sole member

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
  /s/ Richard A. Norris

  	
   

  
	
   

  	
   

  	
   

  	
  Name:

  	
  Richard A. Norris

  	
   

  
	
   

  	
   

  	
   

  	
  Title:

  	
  Senior Vice President and

  Chief Financial Officer

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
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  CASELLA WASTE SERVICES OF ONTARIO LLC

  
	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
  New England Waste Services of

  N.Y., Inc., its sole member

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
  /s/ Richard A. Norris

  	
   

  
	
   

  	
   

  	
   

  	
  Name:

  	
  Richard A. Norris

  	
   

  
	
   

  	
   

  	
   

  	
  Title:

  	
  Vice President and Treasurer

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  

  	
  NEWS OF WORCESTER LLC

  
	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
  Casella Waste systems, Inc., its

  sole member

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
  /s/ Richard A. Norris

  	
   

  
	
   

  	
   

  	
   

  	
  Name:

  	
  Richard A. Norris

  	
   

  
	
   

  	
   

  	
   

  	
  Title:

  	
  Senior Vice President and

  Chief Financial Officer

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  

  	
  TRILOGY GLASS LLC

  
	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
  New England Waste Services of

  N.Y., Inc., its sole member

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  By:

  	
  /s/ Richard A. Norris

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
  Name:

  	
  Richard A. Norris

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
  Title:

  	
  Vice President and Treasurer

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  

  	
  BLUE MOUNTAIN RECYCLING, LLC

  
	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
  FCR, LLC, its manager

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  By:

  	
  /s/ Richard A. Norris

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
  Name:

  	
  Richard A. Norris

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
  Title:

  	
  Vice President and Treasurer

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
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  CHEMUNG LANDFILL LLC

  
	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
  New England Waste Services of N.Y., Inc.,

  its sole member

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  By:

  	
  /s/ Richard A. Norris

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
  Name:

  	
  Richard A. Norris

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
  Title:

  	
  Vice President and Treasurer

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  

  	
  COLEBROOK LANDFILL LLC

  
	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
  New England Waste Services of N.Y., Inc., its sole

  member

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  By:

  	
  /s/ Richard A. Norris

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
  Name:

  	
  Richard A. Norris

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
  Title:

  	
  Vice President and Treasurer

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  

  	
  LEWISTON LANDFILL LLC

  
	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
  New England Waste Services of ME, Inc.,

  its sole member

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  By:

  	
  /s/ Richard A. Norris

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
  Name:

  	
  Richard A. Norris

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
  Title:

  	
  Vice President and Treasurer

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  

  	
  FAIRFIELD COUNTY RECYCLING, LLC

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Richard A.
  Norris

  	
   

  
	
   

  	
   

  	
  Name:

  	
  Richard A. Norris

  	
   

  
	
   

  	
   

  	
  Title:

  	
  Vice President and Treasurer

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
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  FCR CAMDEN, LLC

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Richard A.
  Norris

  	
   

  
	
   

  	
   

  	
  Name:

  	
  Richard A. Norris

  	
   

  
	
   

  	
   

  	
  Title:

  	
  Vice President and Treasurer

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  

  	
  FCR FLORIDA, LLC

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Richard A.
  Norris

  	
   

  
	
   

  	
   

  	
  Name:

  	
  Richard A. Norris

  	
   

  
	
   

  	
   

  	
  Title:

  	
  Vice President and Treasurer

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  

  	
  FCR GREENSBORO, LLC

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Richard A.
  Norris

  	
   

  
	
   

  	
   

  	
  Name:

  	
  Richard A. Norris

  	
   

  
	
   

  	
   

  	
  Title:

  	
  Vice President and Treasurer

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  

  	
  FCR GREENVILLE, LLC

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Richard A.
  Norris

  	
   

  
	
   

  	
   

  	
  Name:

  	
  Richard A. Norris

  	
   

  
	
   

  	
   

  	
  Title:

  	
  Vice President and Treasurer

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  

  	
  FCR MORRIS, LLC

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Richard A.
  Norris

  	
   

  
	
   

  	
   

  	
  Name:

  	
  Richard A. Norris

  	
   

  
	
   

  	
   

  	
  Title:

  	
  Vice President and Treasurer

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  

  	
  FCR REDEMPTION, LLC

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Richard A.
  Norris

  	
   

  
	
   

  	
   

  	
  Name:

  	
  Richard A. Norris

  	
   

  
	
   

  	
   

  	
  Title:

  	
  Vice President and Treasurer

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  [SIGNATURES
  CONTINUED

  ON FOLLOWING PAGE]

  	
   

  
						

 

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  FCR TENNESSEE, LLC

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Richard A.
  Norris

  	
   

  
	
   

  	
   

  	
  Name:

  	
  Richard A. Norris

  	
   

  
	
   

  	
   

  	
  Title:

  	
  Vice President and Treasurer

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  

  	
  KTI RECYCLING OF NEW ENGLAND, LLC

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Richard A.
  Norris

  	
   

  
	
   

  	
   

  	
  Name:

  	
  Richard A. Norris

  	
   

  
	
   

  	
   

  	
  Title:

  	
  Vice President and Treasurer

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  

  	
  RESOURCE RECOVERY SYSTEMS, LLC

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Richard A.
  Norris

  	
   

  
	
   

  	
   

  	
  Name:

  	
  Richard A. Norris

  	
   

  
	
   

  	
   

  	
  Title:

  	
  Vice President and Treasurer

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  

  	
  U.S. FIBER, LLC

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Richard A.
  Norris

  	
   

  
	
   

  	
   

  	
  Name:

  	
  Richard A. Norris

  	
   

  
	
   

  	
   

  	
  Title:

  	
  Vice President and Treasurer

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  

  	
  FCR, LLC

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Richard A.
  Norris

  	
   

  
	
   

  	
   

  	
  Name:

  	
  Richard A. Norris

  	
   

  
	
   

  	
   

  	
  Title:

  	
  Vice President and Treasurer

  	
   

  

 

Signature Page to
Third Amendment to A&R Credit Agreement

 

	
  

  	
  BANK OF AMERICA, N.A.

  
	
   

  	
  as Administrative Agent

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Carol Alan

  	
   

  
	
   

  	
   

  	
  Name:

  	
  Carol Alan

  	
   

  
	
   

  	
   

  	
  Title:

  	
  Assistant Vice President

  	
   

  

 

Signature Page to
Third Amendment to A&R Credit Agreement

 

	
  

  	
  BANK OF AMERICA, N.A.,

  
	
   

  	
  as a Revolving Lender

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Maria F. Maia

  	
   

  
	
   

  	
   

  	
  Name:

  	
  Maria F. Maia

  	
   

  
	
   

  	
   

  	
  Title:

  	
  Managing Director

  	
   

  

 

Signature Page to
Third Amendment to A&R Credit Agreement

 

	
  

  	
  BANK OF AMERICA, N.A.,

  
	
   

  	
  as a Term B Lender

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Maria F. Maia

  	
   

  
	
   

  	
   

  	
  Name:

  	
  Maria F. Maia

  	
   

  
	
   

  	
   

  	
  Title:

  	
  Managing Director

  	
   

  

 

 

 

SCHEDULE
2.01

COMMITMENTS,
TERM B LOAN AND APPLICABLE PERCENTAGES

	
   

  	
   

  	
  REVOLVER

  	
   

  	
  TERM B

  	
   

  
	
  Lender

  	
   

  	
  Commitment

  Amount

  	
   

  	
  Revolving

  Percentage

  	
   

  	
  Term B Loan

  Amount

  	
   

  	
  Term B Loan

  Percentage

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Bank of America, N.A.

  	
   

  	
  $

  	
  61,000,000

  	
   

  	
  17.42857

  	
  %

  	
  $

  	
  94,000,000

  	
   

  	
  53.71429

  	
  %

  
	
  Sovereign Bank

  	
   

  	
  $

  	
  44,000,000

  	
   

  	
  12.57143

  	
  %

  	
  $

  	
  1,000,000

  	
   

  	
  0.57143

  	
  %

  
	
  Calyon Corporate and Investment
  Bank

  	
   

  	
  $

  	
  35,000,000

  	
   

  	
  10.00000

  	
  %

  	
  $

  	
  2,000,000

  	
   

  	
  1.14286

  	
  %

  
	
  Citizens Bank of Massachusetts

  	
   

  	
  $

  	
  35,000,000

  	
   

  	
  10.00000

  	
  %

  	
   

  	
   

  	
   

  	
   

  
	
  Wachovia Bank

  	
   

  	
  $

  	
  35,000,000

  	
   

  	
  10.00000

  	
  %

  	
   

  	
   

  	
   

  	
   

  
	
  LaSalle Bank National
  Association

  	
   

  	
  $

  	
  35,000,000

  	
   

  	
  10.00000

  	
  %

  	
   

  	
   

  	
   

  	
   

  
	
  Comerica Bank

  	
   

  	
  $

  	
  25,000,000

  	
   

  	
  7.14286

  	
  %

  	
   

  	
   

  	
   

  	
   

  
	
  JPMorgan Chase Bank, N.A.

  	
   

  	
  $

  	
  25,000,000

  	
   

  	
  7.14286

  	
  %

  	
   

  	
   

  	
   

  	
   

  
	
  TD BankNorth, N.A.

  	
   

  	
  $

  	
  20,000,000

  	
   

  	
  5.71429

  	
  %

  	
  $

  	
  2,000,000

  	
   

  	
  1.14286

  	
  %

  
	
  National City Bank

  	
   

  	
  $

  	
  20,000,000

  	
   

  	
  5.71429

  	
  %

  	
   

  	
   

  	
   

  	
   

  
	
  Merrill Lynch Capital, a
  division of Merrill Lynch Business Financial Services Inc.

  	
   

  	
  $

  	
  15,000,000

  	
   

  	
  4.28571

  	
  %

  	
   

  	
   

  	
   

  	
   

  
	
  Other Lenders

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  $

  	
  76,000,000

  	
   

  	
  43.42857

  	
  %

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  TOTAL

  	
   

  	
  $

  	
  350,000,000

  	
   

  	
  100.00000

  	
  %

  	
  $

  	
  175,000,000

  	
   

  	
  100.00000

  	
  %

  

 

 

	
  

  	
  Sovereign Bank, as a Revolving Lender

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Robert H. Rivet

  	
   

  
	
   

  	
   

  	
  Name:

  	
  Robert H. Rivet

  	
   

  
	
   

  	
   

  	
  Title:

  	
  Vice President

  	
   

  

 

Third Amendment to
Casella Waste Systems, Inc. Amended and Restated Revolving Credit Agreement
dated April 28, 2005.

 

	
  

  	
  Sovereign Bank, as a Term B Lender

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Robert H. Rivet

  	
   

  
	
   

  	
   

  	
  Name:

  	
  Robert H. Rivet

  	
   

  
	
   

  	
   

  	
  Title:

  	
  Vice President

  	
   

  

 

Third Amendment to Casella
Waste Systems, Inc. Amended and Restated Revolving Credit Agreement dated April
28, 2005.

 

	
  

  	
  Calyon New York Branch, as a

  
	
   

  	
  Revolving Lender

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Dianne M. Scott

  	
   

  
	
   

  	
   

  	
  Name:

  	
  Dianne M. Scott

  	
   

  
	
   

  	
   

  	
  Title:

  	
  Managing Director

  	
   

  

 

 

	
  

  	
  By:

  	
  /s/ Richard Laborie

  	
   

  
	
   

  	
   

  	
  Name:

  	
  Richard Laborie

  	
   

  
	
   

  	
   

  	
  Title:

  	
  Director

  	
   

  

 

 

	
  

  	
  Calyon New York Branch, 

  
	
   

  	
  as a Term B Lender

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Dianne M. Scott

  	
   

  
	
   

  	
   

  	
  Name:

  	
  Dianne M. Scott

  	
   

  
	
   

  	
   

  	
  Title:

  	
  Managing Director

  	
   

  

 

 

	
  

  	
  By:

  	
  /s/ Richard Laborie

  	
   

  
	
   

  	
   

  	
  Name:

  	
  Richard Laborie

  	
   

  
	
   

  	
   

  	
  Title:

  	
  Director

  	
   

  

 

 

	
  

  	
  Citizen Bank of Massachusetts, as a

  
	
   

  	
  Revolving Lender

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Cindy Chen

  	
   

  
	
   

  	
   

  	
  Name:

  	
  Cindy Chen

  	
   

  
	
   

  	
   

  	
  Title:

  	
  Senior Vice President

  	
   

  

 

 

	
  

  	
  Wachovia Bank, National Association, as a

  
	
   

  	
  Revolving Lender

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Karen H. McClain

  	
   

  
	
   

  	
   

  	
  Name:

  	
  Karen H. McClain

  	
   

  
	
   

  	
   

  	
  Title:

  	
  Managing Director

  	
   

  

 

 

	
  

  	
  LaSalle Bank National Association, as a

  
	
   

  	
  Revolving Lender

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Brian Peterson

  	
   

  
	
   

  	
   

  	
  Name:

  	
  Brian Peterson

  	
   

  
	
   

  	
   

  	
  Title:

  	
  Senior Vice President

  	
   

  

 

 

	
  

  	
  Comerica Bank, as a 

  
	
   

  	
  Revolving Lender

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Erik McKay

  	
   

  
	
   

  	
   

  	
  Name:

  	
  Erik McKay

  	
   

  
	
   

  	
   

  	
  Title:

  	
  Commercial Banking Officer

  	
   

  

 

 

	
  

  	
  JPMorgan Chase Bank, N.A., as a

  
	
   

  	
  Revolving Lender

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ James E. Murphy

  	
   

  
	
   

  	
   

  	
  Name:

  	
  James E. Murphy

  	
   

  
	
   

  	
   

  	
  Title:

  	
  Senior Vice President

  	
   

  

 

 

	
  

  	
  TD Banknorth, N.A., as a

  
	
   

  	
  Revolving Lender

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ E. Kirke Hart

  	
   

  
	
   

  	
   

  	
  Name:

  	
  E. Kirke Hart

  	
   

  
	
   

  	
   

  	
  Title:

  	
  Senior Vice President

  	
   

  

 

 

	
  

  	
  TD Banknorth, N.A., 

  
	
   

  	
  as a Term B Lender

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ E. Kirke Hart

  	
   

  
	
   

  	
   

  	
  Name:

  	
  E. Kirke Hart

  	
   

  
	
   

  	
   

  	
  Title:

  	
  Senior Vice President

  	
   

  

 

 

	
  

  	
  National City Bank, as a

  
	
   

  	
  Revolving Lender

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Susan Callahan

  	
   

  
	
   

  	
   

  	
  Name:

  	
  Susan Callahan

  	
   

  
	
   

  	
   

  	
  Title:

  	
  Vice President

  	
   

  

 

 

	
  

  	
  Merrill Lynch Capital, a division of

  
	
   

  	
  Merrill Lynch Business Financial Services

  
	
   

  	
  Inc., as a

  
	
   

  	
  Revolving Lender

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Kelli O’Connell

  	
   

  
	
   

  	
   

  	
  Name:

  	
  Kelli O’Connell

  	
   

  
	
   

  	
   

  	
  Title:

  	
  Vice President

  	
   

  

 

 

	
  

  	
  CAVALRY CLO I, LTD

  
	
   

  	
   

  
	
   

  	
  By: Regiment Capital Management, LLC

  
	
   

  	
  as its Investment Advisor

  
	
   

  	
   

  
	
   

  	
  By: Regiment Capital Advisors, LP

  
	
   

  	
  its Manager and pursuant to delegated

  
	
   

  	
  authority

  
	
   

  	
   

  
	
   

  	
  By: Regiment Capital Advisors, LLC

  
	
   

  	
  its General Partner

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Mark A. Brostowski

  	
   

  
	
   

  	
   

  	
  Name:

  	
  Mark A. Brostowski

  	
   

  
	
   

  	
   

  	
  Title:

  	
  Authorized Signatory

  	
   

  

 

 

	
  

  	
  CIFC Funding 2006-IB, Ltd.

  
	
   

  	
  CIFC Funding 2006-II, Ltd.,

  
	
   

  	
  Each as a Term B Lender

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Sean Dougherty

  	
   

  
	
   

  	
   

  	
  Name:

  	
  Sean Dougherty

  	
   

  
	
   

  	
   

  	
  Title:

  	
  General Counsel

  	
   

  

 

 

	
  

  	
  CSAM Funding I,

  
	
   

  	
  as a Term B Lender

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Andrew H. Marshak

  	
   

  
	
   

  	
   

  	
  Name: ANDREW H. MARSHAK

  
	
   

  	
   

  	
  Title:  AUTHORIZED
  SIGNATORY

  

 

 

	
  

  	
  EATON VANCE INSTITUTIONAL SENIOR LOAN FUND

  
	
   

  	
  BY: EATON VANCE MANAGEMENT

  
	
   

  	
  AS INVESTMENT ADVISOR,

  
	
   

  	
  as a Term B Lender

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Michael B. Botthof

  	
   

  
	
   

  	
   

  	
  Name:

  	
  Michael B. Botthof

  	
   

  
	
   

  	
   

  	
  Title:

  	
  Vice President

  	
   

  

 

 

	
  

  	
  EATON VANCE

  
	
   

  	
  VT FLOATING-RATE INCOME FUND

  
	
   

  	
  BY: EATON VANCE
  MANAGEMENT

  
	
   

  	
  AS INVESTMENT ADVISOR,

  
	
   

  	
  as a Term B Lender

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Michael B. Botthof

  	
   

  
	
   

  	
   

  	
  Name:

  	
  Michael B. Botthof

  	
   

  
	
   

  	
   

  	
  Title:

  	
  Vice President

  	
   

  

 

 

	
  

  	
  Franklin CLO II, Limited,

  
	
   

  	
  as a Term B Lender

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ David Ardini

  	
   

  
	
   

  	
   

  	
  Name:

  	
  David Ardini

  	
   

  
	
   

  	
   

  	
  Title:

  	
  Vice President

  	
   

  

 

 

	
  

  	
  Franklin CLO V, Limited,

  
	
   

  	
  as a Term B Lender

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ David Ardini

  	
   

  
	
   

  	
   

  	
  Name:

  	
  David Ardini

  	
   

  
	
   

  	
   

  	
  Title:

  	
  Vice President

  	
   

  

 

 

	
  

  	
  Franklin Floating Rate Daily Access Fund,

  
	
   

  	
  as a Term B Lender

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Richard Hsu

  	
   

  
	
   

  	
   

  	
  Name:

  	
  Richard Hsu

  	
   

  
	
   

  	
   

  	
  Title:

  	
  Asst. Vice President

  	
   

  

 

 

	
  

  	
  Franklin Floating Rate Master Series,

  
	
   

  	
  as a Term B Lender

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Richard Hsu

  	
   

  
	
   

  	
   

  	
  Name:

  	
  Richard Hsu

  	
   

  
	
   

  	
   

  	
  Title:

  	
  Asst. Vice President

  	
   

  

 

 

	
  

  	
  GRAYSON & CO.

  
	
   

  	
  BY: BOSTON MANAGEMENT AND RESEARCH

  
	
   

  	
  AS INVESTMENT ADVISOR

  
	
   

  	
  as a Term B Lender

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Michael B. Botthof

  	
   

  
	
   

  	
   

  	
  Name:

  	
  Michael B. Botthof

  	
   

  
	
   

  	
   

  	
  Title:

  	
  Vice President

  	
   

  

 

 

	
  

  	
  Highland Credit Opportunities CDO Ltd.

  
	
   

  	
  By: Highland Capital Management, L.P.,

  
	
   

  	
  As Collateral Manager

  
	
   

  	
  By: Strand Advisors, Inc., Its General

  
	
   

  	
  Partner

  
	
   

  	
   

  
	
   

  	
  as a Term B Lender

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Brian Lohrding

  	
   

  
	
   

  	
   

  	
  Name:

  	
   

  
	
   

  	
   

  	
  Title:

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  Brian Lohrding, Treasurer

  
	
   

  	
   

  	
   

  	
  Strand Advisors, Inc.,

  
	
   

  	
   

  	
   

  	
  General Partner of 

  
	
   

  	
   

  	
   

  	
  Highland Capital Management, L.P.

  
					

 

 

	
  

  	
  Highland Legacy Limited

  
	
   

  	
  By: Highland Capital Management, L.P., As Collateral
  Manager

  
	
   

  	
  By: Strand Advisors, Inc., Its General Partner

  
	
   

  	
   

  
	
   

  	
  as a Term B Lender

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Brian Lohrding

  	
   

  
	
   

  	
   

  	
  Name:

  	
   

  
	
   

  	
   

  	
  Title:

  	
   

  
	
   

  	
   

  	
   

  	
  Brian Lohrding, Treasurer

  
	
   

  	
   

  	
   

  	
  Strand Advisors, Inc.,

  
	
   

  	
   

  	
   

  	
  General Partner of 

  
	
   

  	
   

  	
   

  	
  Highland Capital Management, L.P.

  
					

 

 

	
  

  	
  LATITUDE CLO II, LTD,

  
	
   

  	
  as a Term B Lender

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Chauncey Lufkin

  	
   

  
	
   

  	
   

  	
  Name:

  	
  Chauncey Lufkin

  	
   

  
	
   

  	
   

  	
  Title:

  	
  President and CIO

  	
   

  

 

 

	
  

  	
  Loan Funding VII LLC

  
	
   

  	
  By: Highland Capital Management, L.P., As Collateral
  Manager

  
	
   

  	
  By: Strand Advisors, Inc., Its General Partner

  
	
   

  	
  as a Term B Lender

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Brian Lohrding

  	
   

  
	
   

  	
   

  	
  Name:

  
	
   

  	
   

  	
  Title:

  
	
   

  	
   

  	
   

  	
  Brian Lohrding, Treasurer

  
	
   

  	
   

  	
   

  	
  Strand Advisors, Inc.,

  
	
   

  	
   

  	
   

  	
  General Partner of 

  
	
   

  	
   

  	
   

  	
  Highland Capital Management, L.P.

  
					

 

 

	
  

  	
  Mountain View Funding CLO 2006-I, Ltd.

  
	
   

  	
   

  
	
   

  	
  By: Seix Advisors, a fixed income division of

  
	
   

  	
  Trusco Capital Management, Inc., as Collateral

  
	
   

  	
  Manager

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  as a Term B Lender

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ George Goudelias

  	
   

  
	
   

  	
   

  	
  Name: George Goudelias

  	
   

  
	
   

  	
   

  	
  Title:  PM,
  Seix Advisors

  	
   

  

 

 

	
  

  	
  Rampart CLO I Ltd.

  
	
   

  	
  By: Stone Tower Debt Advisors LLC.,

  
	
   

  	
  As It’s Collateral Manager

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Michael W. Delpercio

  	
   

  
	
   

  	
   

  	
  Name: MICHAEL W. DELPERCIO

  	
   

  
	
   

  	
   

  	
  Title:  AUTHORIZED
  SIGNATORY

  	
   

  

 

 

	
  

  	
  Red River CLO Ltd.

  
	
   

  	
  By: Highland Capital Management, L.P.

  
	
   

  	
  As Collateral Manager

  
	
   

  	
  By: Strand Advisors, Inc., Its General Partner

  
	
   

  	
   

  
	
   

  	
  as a Term B Lender

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Brian Lohrding

  	
   

  
	
   

  	
   

  	
  Name:

  
	
   

  	
   

  	
  Title:

  
	
   

  	
   

  	
   

  	
  Brian Lohrding, Treasurer

  
	
   

  	
   

  	
   

  	
  Strand Advisors, Inc.,

  
	
   

  	
   

  	
   

  	
  General Partner of 

  
	
   

  	
   

  	
   

  	
  Highland Capital Management, L.P.

  
					

 

 

 

	
  

  	
  ROSEDALE
  CLO LTD.

  
	
   

  	
  By: Princeton
  Advisory Group, Inc.,

  
	
   

  	
  the Collateral
  Manager,

  
	
   

  	
  as a
  Term B Lender

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ [ILLEGIBLE]

  	
   

  
	
   

  	
   

  	
  Name:

  	
  [ILLEGIBLE]

  	
   

  
	
   

  	
   

  	
  Title:

  	
  [ILLEGIBLE]

  
					

 

 

	
  

  	
  Stone
  Tower CDO II Ltd.

  
	
   

  	
  By: Stone Tower
  Debt Advisors, LLC.,

  
	
   

  	
  As It’s
  Collateral Manager

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Michael W. Delpercio

  	
   

  
	
   

  	
   

  	
  Name:

  	
  MICHAEL W. DELPERCIO

  
	
   

  	
   

  	
  Title:

  	
  AUTHORIZED SIGNATORY

  
					

 

 

	
  

  	
  Stone
  Tower CDO Ltd.

  
	
   

  	
  By: Stone Tower
  Debt Advisors, LLC.,

  
	
   

  	
  As It’s
  Collateral Manager

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Michael W. Delpercio

  	
   

  
	
   

  	
   

  	
  Name:

  	
  MICHAEL W. DELPERCIO

  
	
   

  	
   

  	
  Title:

  	
  AUTHORIZED SIGNATORY

  
					

 

 

	
  

  	
  Stone
  Tower CDO VI Ltd.

  
	
   

  	
  By: Stone Tower
  Debt Advisors LLC.,

  
	
   

  	
  As It’s
  Collateral Manager

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Michael W. Delpercio

  	
   

  
	
   

  	
   

  	
  Name:

  	
  MICHAEL W. DELPERCIO

  
	
   

  	
   

  	
  Title:

  	
  AUTHORIZED SIGNATORY

  
					

 

 

	
  

  	
  Stone
  Tower Credit Funding I Ltd.

  
	
   

  	
  By: Stone Tower
  Fund Management LLC.,

  
	
   

  	
  As It’s
  Collateral Manager

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Michael W. Delpercio

  	
   

  
	
   

  	
   

  	
  Name:

  	
  MICHAEL W. DELPERCIO

  
	
   

  	
   

  	
  Title:

  	
  AUTHORIZED SIGNATORY

  
					

 

 

	
  

  	
  VAN
  KAMPEN

  
	
   

  	
  SENIOR
  INCOME TRUST

  
	
   

  	
  By: Van Kampen
  Asset Management

  
	
   

  	
   

  
	
   

  	
  as a
  Term B Lender

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Darvin D. Pierce

  	
   

  
	
   

  	
   

  	
  Name:

  	
  DARVIN D. PIERCE

  
	
   

  	
   

  	
  Title:

  	
  EXECUTIVE DIRECTOR

  
					

 

 

	
  

  	
  VAN
  KAMPEN

  
	
   

  	
  SENIOR LOAN
  FUND

  
	
   

  	
  By: Van Kampen
  Asset Management

  
	
   

  	
  as a
  Term B Lender

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Darvin D. Pierce

  	
   

  
	
   

  	
   

  	
  Name:

  	
   

  
	
   

  	
   

  	
  Title:

  	
   

  
					

 

 

	
  

  	
  WATERFRONT
  CLO 2007-1,

  
	
   

  	
  as a Term
  B Lender

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Robert E. Sydow

  	
   

  
	
   

  	
   

  	
  Name:

  	
  Robert E. Sydow

  
	
   

  	
   

  	
  Title:

  	
  President

  Grandview Capital Management, LLC

  As Investment Manager

  
					

 

 

	
  

  	
  WATERVILLE
  FUNDING LLC,

  
	
   

  	
  as a
  Term B Lender

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ M. Cristina Higgins

  	
   

  
	
   

  	
   

  	
  Name:

  	
  M. Cristina Higgins

  
	
   

  	
   

  	
  Title:

  	
  Assistant Vice President

  
					

 

 

	
  

  	
  KATONAH
  IX CLO LTD.,

  
	
   

  	
  as a
  Term B Lender

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Daniel Gilligan

  	
   

  
	
   

  	
   

  	
  Name:

  	
  DANIEL GILLIGAN

  
	
   

  	
   

  	
  Title:

  	
  Authorized Officer

  Katonah Debt Advisors, L.L.C.

  As Manager

  
					

 

 

	
  

  	
  KATONAH
  VII CLO LTD.,

  
	
   

  	
  as a
  Term B Lender

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Daniel Gilligan

  	
   

  
	
   

  	
   

  	
  Name:

  	
  DANIEL GILLIGAN

  
	
   

  	
   

  	
  Title:

  	
  Authorized Officer

  Katonah Debt Advisors, L.L.C.

  As Manager

  
					

 

 

	
  

  	
  KATONAH
  VIII CLO LTD.,

  
	
   

  	
  as a
  Term B Lender

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Daniel Gilligan

  	
   

  
	
   

  	
   

  	
  Name:

  	
  DANIEL GILLIGAN

  
	
   

  	
   

  	
  Title:

  	
  Authorized Officer

  Katonah Debt Advisors, L.L.C.

  As Manager

  
					

 

 

	
  

  	
  Sankaty
  Advisors, LLC as Collateral

  
	
   

  	
  Manager for
  AVERY POINT CLO,

  
	
   

  	
  LTD., as Term
  Lender

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  as a
  Term B Lender

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Alan K. Halfenger

  	
   

  
	
   

  	
   

  	
  Name:

  	
  Alan K. Halfenger

  
	
   

  	
   

  	
  Title:

  	
  Chief Compliance Officer

  Assistant Secretary

  
					

 

 

	
  

  	
  Sankaty
  Advisors, LLC as Collateral

  
	
   

  	
  Manager for Castle
  Hill I - 

  
	
   

  	
  INGOTS, Ltd., as
  Term Lender

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  as a
  Term B Lender

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Alan K. Halfenger

  	
   

  
	
   

  	
   

  	
  Name:

  	
  ALAN K. HALFENGER

  
	
   

  	
   

  	
  Title:

  	
  Chief Compliance Officer

  Assistant Secretary

  
					

 

 

	
  

  	
  Sankaty
  Advisors, LLC as Collateral

  
	
   

  	
  Manager for Castle
  Hill II - 

  
	
   

  	
  INGOTS, Ltd., as
  Term Lender

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  as a
  Term B Lender

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Alan K. Halfenger

  	
   

  
	
   

  	
   

  	
  Name:

  	
  Alan K. Halfenger

  
	
   

  	
   

  	
  Title:

  	
  Chief Compliance Officer

  Assistant Secretary

  
					

 

 

	
  

  	
  Chatham
  Light III CLO, LTD

  
	
   

  	
  By:

  	
  Sankaty Advisors,
  LLC

  
	
   

  	
   

  	
  as Collateral
  Manager

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  as a
  Term B Lender

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Alan K. Halfenger

  	
   

  
	
   

  	
   

  	
  Name:

  	
  Alan K. Halfenger

  
	
   

  	
   

  	
  Title:

  	
  Chief Compliance Officer

  Assistant Secretary

  
						

 

 

	
  

  	
  Sankaty
  Advisors, LLC as Collateral

  
	
   

  	
  Manager for Race
  Point II CLO,

  
	
   

  	
  Limited, as Term
  Lender

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  as a
  Term B Lender

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Alan K. Halfenger

  	
   

  
	
   

  	
   

  	
  Name:

  	
  Alan K. Halfenger

  
	
   

  	
   

  	
  Title:

  	
  Chief Compliance Officer

  Assistant Secretary

  
					

 

 

	
  

  	
  SKY
  CBNA LOAN FUNDING,

  
	
   

  	
  as a Term
  B Lender

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ David Balmert

  	
   

  
	
   

  	
   

  	
  Name:

  	
  David Balmert

  
	
   

  	
   

  	
  Title:

  	
   

  
					

 

 

	
  

  	
  Carlyle
  Capital Investment Limited,

  
	
   

  	
  as a
  Term B Lender

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Linda Pace

  	
   

  
	
   

  	
   

  	
  Name:

  	
  Linda Pace

  
	
   

  	
   

  	
  Title:

  	
  Managing Director

  
					

 

 

	
  

  	
  Carlyle
  High Yield Partners VIII, Ltd.

  
	
   

  	
  as a
  Term B Lender

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Linda Pace

  	
   

  
	
   

  	
   

  	
  Name:

  	
  Linda Pace

  
	
   

  	
   

  	
  Title:

  	
  Managing Director

  
					

 

 

	
  

  	
  Carlyle
  High Yield Partners IX, Ltd.

  
	
   

  	
  as a
  Term B Lender

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Linda Pace

  	
   

  
	
   

  	
   

  	
  Name:

  	
  Linda Pace

  
	
   

  	
   

  	
  Title:

  	
  Managing Director

  
					

 

 

	
  

  	
  Carlyle
  Loan Investment, Ltd.

  
	
   

  	
  as a
  Term B Lender

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Linda Pace

  	
   

  
	
   

  	
   

  	
  Name:

  	
  Linda Pace

  
	
   

  	
   

  	
  Title:

  	
  Managing DirectorExhibit
10.1

 

COMMERCIAL
PROPERTY PURCHASE AGREEMENT

AND JOINT
ESCROW INSTRUCTIONS

(Non-Residential)

Date January
9, 2007, at Atascadero  

California.

1. OFFER:

	
  A.

  	
  THIS IS AN OFFER FROM                                      David
  Elson            “Buyer”). x
  Individual(s),

  
	
    o
  A Corporation, o
  A Partnership,  ̈ An LLC, o
  An LLP, or o Other

  
	
  B.

  	
  THE REAL PROPERTY
  TO BE ACQUIRED is described as  2045 Spring Street

  
	
   

  	
                                            ,
  Assessor’s Parcel No.000822400, situated in  Paso
  Robles,

  
	
   

  	
  County of San Luis Obispo, California,
  (“Property”).

  
	
  C.

  	
  THE PURCHASE PRICE offered is  Six
  Hundred Fifty Thousand Dollars $650,000.00

  
	
  D.

  	
  CLOSE OF ESCROW shall occur
  on             (date)
  (or x  45  Days After Acceptance).

  

2. FINANCE  TERMS: Obtaining the loans below is a
contingency of this Agreement unless: (i) either 2L or 2M is checked below; or (ii) otherwise agreed in writing. Buyer shall act
diligently and in good faith to obtain the designated loans. Obtaining deposit,
down payment and closing costs is not a
contingency. Buyer represents that funds will be good when deposited
with Escrow Holder.

A.    INITIAL DEPOSIT: Buyer has given a deposit
in the amount of $ 6,500.00 to the agent submitting the offer (or to x Escrow Company
), by Personal Check (or o), made payable
to Escrow which shall be held uncashed until Acceptance and then deposited
within 3 business days after Acceptance or o Shall be
deposited by Buyer directly to escrow company, with Escrow Holder, or o into Broker’s
trust account.

B.            INCREASED DEPOSIT: Buyer shall
deposit with Escrow Holder an increased deposit in the amount of  $

within
     Days After
Acceptance, or o    

C.                 FIRST LOAN IN THE AMOUNT

OF    

$ 520,000.00  NEW First Deed of Trust in favor of x
Lender, o Seller,

OR o
ASSUMPTION of (or o
“subject to”) Existing First Deed of Trust
encumbering the Property, securing

       a
note payable at maximum interest of 6.870 % fixed rate, or     % initial adjustable

       rate with a maximum interest rate of       %, balance due in 30 years, amortized over

      
30 years. (If checked: o  and
with a margin not to exceed     %, tied to the following

      
index     .) Buyer shall pay loan fees/points not to
exceed 1PT

      
Additional terms

D.                 SECOND LOAN IN THE AMOUNT 

OF                                                                               $

NEW Second Deed of Trust in
favor of o Lender,
o Seller,

OR q
ASSUMPTION of (or o
“subject to”) Existing Second Deed of Trust encumbering the Property,

securing
a note payable at maximum interest of      % fixed rate, or
     %

initial
adjustable rate with a maximum interest rate of      %,
balance due in      years,

amortized
over      years. (If checked: o
and with a margin not to exceed      %, tied to

the
following index:     .) Buyer shall pay loan fees/points
not to exceed

Additional terms

E.              ADDITIONAL FINANCING
TERMS:                                                                        $

F.                   BALANCE OF PURCHASE
PRICE (not including costs of
obtaining loans and other closing costs) in the amount of $123,500.00  to be deposited with Escrow Holder within
sufficient time to close escrow.

G.                 PURCHASE PRICE
(TOTAL)      $ 650,000.00

H.            LOAN APPLICATIONS: Within 7
(or o      ) Days After Acceptance, Buyer shall provide Seller a
letter from lender or mortgage loan broker stating that, based on a review of
Buyer’s written application and credit report, Buyer is prequalified or
preapproved for any NEW loan specified above.

I.      VERIFICATION OF DOWN
PAYMENT AND CLOSING COSTS: Buyer
(or Buyer’s lender or loan broker pursuant to 2H) shall, within 7 (or o ) Days After
Acceptance, provide Seller written verification of Buyer’s down payment and
closing costs.

J.      LOAN CONTINGENCY REMOVAL: (i) Within 17 (or x 21 ) Days After Acceptance Buyer shall, as specified in paragraph
17, remove the loan contingency or cancel this Agreement; OR (ii) (if checked) o loan
contingency shall remain in effect until the designated loans are funded.

K.            APPRAISAL CONTINGENCY AND REMOVAL: This Agreement is (OR, if checked, o is NOT) contingent upon the Property
appraising at no less than the specified purchase price. If there is a loan
contingency, at the time the loan contingency is removed (or, if checked, x within 17 (or 21) Days after Acceptance),
Buyer shall, as specified in paragraph 17, remove the appraisal contingency or
cancel this Agreement. If there is no loan contingency, Buyer shall, as
specified in paragraph 17, remove the appraisal contingency within 17 (or     )
Days after acceptance.

L.             L.
o NO LOAN CONTINGENCY (If checked): Obtaining any loan, in
paragraphs 2C, 2D, 2E or elsewhere in this Agreement, is NOT a contingency of
this Agreement. If Buyer does not obtain the loan and as a result Buyer does
not purchase the Property, Seller may be entitled to Buyer’s deposit or other
legal remedies.

M.        o  ALL CASH
OFFER (If checked): No loan is needed to purchase the Property.
Buyer shall, within 7 (or

) Days  After Acceptance, provide Seller written verification of sufficient
funds to close this transaction.

N.            SELLER FINANCING: For any Seller financing designated above,
Buyer is to execute a note secured by a deed of trust in favor of Seller, on
the terms and conditions set forth in the attached addendum (C.A.R. Form SFA).

O. ASSUMED
OR “SUBJECT TO” FINANCING: Seller represents that Seller is not delinquent on any payments due on
any loans. Seller shall, within the time specified in paragraph 17, provide
Copies of all applicable notes and deeds of trust, loan balances and current
interest rates to Buyer. Buyer shall then, as specified in paragraph 17, remove
this contingency or cancel this Agreement. Differences between estimated and
actual loan balances shall be adjusted at Close Of Escrow by cash down payment.
Impound accounts, if any, shall be assigned and charged to Buyer and credited
to Seller. Seller is advised that Buyer’s assumption of an existing loan may
not release Seller from liability on that loan. If the Property is acquired
subject to an existing loan, Buyer and Seller are advised to consult with legal
counsel regarding the ability of an existing lender to call the loan due, and
the consequences thereof.

3. CLOSING AND OCCUPANCY

A.            Seller-Occupied or Vacant
Units: Occupancy shall be
delivered to Buyer at  ̈ AM   ̈  PM, q on the date of Close Of Escrow;  ̈  on                                                                                                           ;
or o no
later than                                                              
Days  After Close Of Escrow.
(C.A.R. Form PAA, paragraph 2.) If transfer of title and occupancy do not occur
at the same time, Buyer and Seller are advised to: (i) enter into a written
occupancy agreement; and (ii) consult with their insurance and legal advisors.

B.            Tenant Occupied Units: Possession and occupancy, subject to the
rights of tenants under existing leases, shall be delivered to Buyer on Close
Of Escrow.

C.             At
Close Of Escrow, Seller assigns to Buyer any assignable warranty rights for
items included in the sale and shall provide any available Copies of such
warranties. Brokers cannot and will not determine the assignability of any
warranties.

D.            At
Close Of Escrow, unless otherwise agreed in writing, Seller shall provide keys
and/or means to operate all locks, mailboxes, security systems, alarms and
garage door openers. If the Property is a unit in a condominium or located in a
common-interest subdivision, Buyer may be required to pay a deposit to the
Owners’ Association (“OA”) to obtain keys to accessible OA facilities.

4. SECURITY
DEPOSITS: Security
deposits, if any, to the extent they have not been applied by Seller in
accordance with any rental agreement and current Law, shall be transferred to
Buyer on Close Of Escrow. Seller shall notify each tenant, in compliance with
the Civil Code.

5.
ALLOCATION OF COSTS (if
checked): Unless otherwise specified here, this paragraph only determines who
is to pay for the report, inspection, test or service mentioned. If not
specified here or elsewhere in this Agreement, the determination of who is to
pay for any work recommended or identified by any such report, inspection, test
or service is by the method specified in paragraph 17.

A. INSPECTIONS AND
REPORTS:

(1)          o
Buyer o Seller shall pay far sewer connection, if
required by Law prior to Close Of Escrow N/A

(2)          o
Buyer o Seller shall pay to have septic or
private sewage disposal system inspected 
N/A

(3)          o
Buyer o Seller shall pay to have domestic wells
tested for water portability and productivity N/A

(4)          o
Buyer x Seller shall pay for a natural hazard
zone disclosure report prepared by Seller’s Choice

(5)          x
Buyer o Seller shall pay for the following
inspection report Property Inspection If Buyer Chooses To

(6)          o
Buyer o Seller shall pay for the following
inspection report

B. GOVERNMENT
REQUIREMENTS AND RETROFIT:

(1) o Buyer  ̈
Seller shall pay for smoke detector installation and/or water heater bracing,
if required by Law. Prior to Close Of Escrow,                           Seller
shall provide Buyer a written statement of compliance in accordance with state
and local Law, unless exempt.

(2) o
Buyer
o Seller shall
pay the cost of compliance with any other minimum mandatory government retrofit
standards, inspections and reports if required as a condition of closing escrow
under any Law.

(3)
o
Buyer
o Seller shall pay for installation of approved
fire extinguisher(s), sprinkler(s), and hose(s), if required by Law, which
shall be installed prior to Close Of Escrow. Prior to Close Of Escrow Seller
shall provide Buyer a written statement of compliance, if required by Law.

C. ESCROW AND TITLE:

(1) x  Buyer x Seller shall pay escrow fee Split 50/50

Escrow
Holder shall be Seller’s Choice

(2)
o Buyer x
Seller shall pay for owner’s title
insurance policy specified in paragraph 16

Owner’s
title policy to be issued by Title Company of Seller’s Choice

(Buyer shall pay for any title insurance policy insuring Buyer’s lender, unless otherwise agreed in
writing.)

D. OTHER COSTS:

(1)  o
Buyer x Seller shall pay County transfer tax or
transfer fee

(2)  o
Buyer x Seller shall pay City transfer or
transfer fee If applicable

(3) 
o Buyer o
Seller shall pay Owners’ Association transfer fees N/A

(4) 
o Buyer o
Seller shall pay Owners’ Association document preparation fees N/A

(5) 
o Buyer o
Seller shall pay for

(6) 
o Buyer o
Seller shall pay for

6. SELLER DISCLOSURES:

A.       NATURAL AND ENVIRONMENTAL
DISCLOSURES: Seller shall, within the time specified in
paragraph 17, if required by Law: (i) deliver to Buyer earthquake guides (and
questionnaire) and environmental hazards booklet; (ii) even if exempt from the
obligation to provide an NHD, disclose if the Property is located in a Special
Flood Hazard Area; Potential Flooding (Inundation) Area; Very High Fire Hazard
Zone; State Fire Responsibility Area; Earthquake Fault Zone; Seismic Hazard
Zone: and (iii) disclose any other zone as required by Law and provide any
other information required for those zones.

B.            ADDITIONAL DISCLOSURES: Within the time specified in paragraph 17,
Seller shall provide to Buyer, in writing, the following disclosures,
documentation and information:

(1)         RENTAL SERVICE
AGREEMENTS: (i) All current leases, rental agreements.
service contracts, and other agreements pertaining to the operation of the
Property; and (ii) a rental statement including names of tenants, rental rates,
period of rental, date of last rent increase, security deposits, rental
concessions, rebates, or other benefits. if any, and a list of delinquent rents
and their duration, Seller represents that no tenant is entitled to any
concession, rebate, or other benefit, except as set forth in these documents.

(2)    INCOME AND EXPENSE
STATEMENTS: The books and records, including a statement of
income and expense for the 12 months preceding Acceptance. Seller represents
that the books and records are those maintained in the ordinary and normal
course of business, and used by Seller in the computation of federal and state
income tax returns.

(3)     ̈TENANT ESTOPPEL CERTIFICATES: (If
checked) Tenant estoppel certificates (C.A.R. Form TEC) completed by Seller or
Seller’s agent, and signed by tenants, acknowledging: (i) that tenants’ rental
or lease agreements are unmodified and in full force and effect (or if
modified, stating all such modifications); (ii) that no lessor defaults exist;
and (iii) stating the amount of any prepaid rent or security deposit.

(4)    SURVEYS, PLANS AND ENGINEERING DOCUMENTS: Copies of surveys, plans, specifications and
engineering documents, if any, in Seller’s possession or control.

(5)    PERMITS: If
in Seller’s possession, Copies of all permits and approvals concerning the
Property, obtained from any governmental entity, including, but not limited to,
certificates of occupancy, conditional use permits, development plans, and
licenses and permits pertaining to the operation of the Property.

(6)    STRUCTURAL MODIFICATIONS: Any known structural additions or alterations
to, or the installation, alteration, repair or replacement of, significant
components of the structure(s) upon the Property.

(7)    GOVERNMENTAL COMPLIANCE: Any improvements, additions, alterations or
repairs made by Seller, or known to Seller to have been made, without required
governmental permits, final inspections, and approvals.

(8)    VIOLATION NOTICES: Any
notice of violations of any Law filed or issued against the Property and
actually known to Seller.

(9)    MISCELLANEOUS ITEMS: Any
of the following, if actually known to Seller: (i) any current pending
lawsuit(s), investigation(s), inquiry(ies), action(s), or other proceeding(s)
affecting the Property, or the right to use and occupy it; (ii) any unsatisfied
mechanic’s or materialman’s lien(s) affecting the Property; and (iii) that any
tenant of the Property is the subject of a bankruptcy.

7.
x  ENVIRONMENTAL
SURVEY (If checked): Within 24 Days
After Acceptance, Buyer shall be provided a

phase one environmental survey report paid for and obtained by El Buyer IT
Seller. Buyer shall then, as specified in paragraph 17, remove this contingency
or cancel this Agreement.

8. CONDOMINIUM/PLANNED UNIT
DEVELOPMENT DISCLOSURES:

A.            SELLER HAS: 7 (or o ) Days  After Acceptance to disclose to Buyer
whether the Property is a condominium, or located in a planned unit development
or other common interest subdivision.

B.             If
Property is a condominium, or located in a planned unit development or other
common interest

                        subdivision,
Seller has 3 (or  ̈   )
Days After Acceptance to request
from the OA (C.A.R. Form HOA): (i) Copies of any documents required by Law;
(ii) disclosure of any pending or anticipated claim or litigation by or against
the OA: (iii) a statement containing the location and number of designated
parking and storage spaces; (iv) Copies of the most recent 12 months of OA
minutes for regular and special meetings; and (v) the names and contact
information of all OA’s governing the Property. (Collectively, “Cl Disclosures.”)
Seller shall itemize and deliver to Buyer all CI Disclosures received from the
OA and any CI Disclosures in Seller’s possession. Buyer’s approval of CI
Disclosures is a contingency of this Agreement as specified in paragraph 17.

9.
SUBSEQUENT DISCLOSURES: In
the event Seller, prior to Close Of Escrow, becomes aware of adverse conditions
materially affecting the Property, or any material inaccuracy in disclosures,
information or representations previously provided to Buyer of which Buyer is
otherwise unaware, Seller shall promptly provide a subsequent or amended
disclosure or notice in writing, covering those items, However, a subsequent or amended disclosure shall not
be required for conditions and material inaccuracies disclosed in reports
ordered and paid for by Buyer.

10. CHANGES DURING ESCROW:

A.                Prior
to Close Of Escrow, Seller may only engage in the following acts, (“Proposed
Changes”), subject to Buyer’s rights in paragraph 17: (i) rent or lease any
vacant unit or other part of the premises; (ii) alter, modify, or extend any
existing rental or lease
agreement: (iii) enter into, alter. modify or extend any service contract(s);
or (iv) change the status of the condition of the Property.

B.                  At
least 7 (or x 10 )
Days  prior to any Proposed
Changes, Seller shall give written notice to Buyer of any Proposed Changes.

11. CONDITIONS AFFECTING PROPERTY:

A.           Unless
otherwise agreed: (i) the Property is
sold (a) in its PRESENT physical condition as
of the date of Acceptance and (b) subject to Buyer’s Investigation rights; (ii)
the Property, including pool, spa, landscaping and grounds, is to be maintained
in substantially the same condition as on the date of Acceptance; and (iii) all
debris and personal property not included in the sale shall be removed by Close
Of Escrow.

 

B.            SELLER SHALL, within the
time specified in paragraph 17, DISCLOSE KNOWN MATERIAL FACTS AND DEFECTS
affecting the Property, including known insurance claims within the past five
years, AND MAKE OTHER DISCLOSURES REQUIRED BY LAW.

C.                 NOTE
TO BUYER: You are strongly advised to conduct investigations of the entire
Property in order to determine its present condition since Seller may not be
aware of all defects affecting the Property or other factors that you consider
important. Property improvements may not be built according to code, in
compliance with current Law, or have had permits issued.

D. NOTE TO SELLER: Buyer has the
right to inspect the Property and, as specified in paragraph 17, based upon information discovered in those
inspections: (i) cancel this Agreement; or (ii) request that you make Repairs or take other action.

12. ITEMS INCLUDED AND EXCLUDED:

A. NOTE TO BUYER AND SELLER: Items
listed as included or excluded in the MLS, flyers or marketing materials are
not included in the purchase price or excluded from the sale unless specified
in 12B or C.

B. ITEMS INCLUDED IN SALE:

(1)     All
EXISTING fixtures and fittings that are attached to the Property;

(2)     Existing
electrical, mechanical. lighting, plumbing and heating fixtures, ceiling fans,
fireplace inserts, gas logs and grates, solar systems, built-in appliances,
window and door screens, awnings, shutters, window coverings, attached floor
coverings, television antennas. satellite dishes, private integrated telephone
systems, air coolers/conditioners, pool/spa equipment, garage door
openers/remote controls, mailbox, in-ground landscaping, trees/shrubs, water
softeners, water purifiers, security systems/alarms;

(3)     A
complete inventory of all personal property of Seller currently used in the
operation of the Property and included in the purchase price shall be delivered
to Buyer within the time specified in paragraph 17.

(4)          Seller
represents that all items included in the purchase price are, unless otherwise
specified, owned by Seller. Within the time specified in paragraph 17, Seller
shall give Buyer a list of fixtures not owned by Seller.

(5)          Seller
shall deliver title to the personal property by Bill of Sale, free of all liens
and encumbrances, and without warranty of condition.

(6)          As
additional security for any note in favor of Seller for any part of the
purchase price. Buyer shall execute a UCC-1 Financing Statement to be filed
with the Secretary of State, covering the personal property included in the
purchase, replacement thereof, and insurance proceeds.

C. ITEMS EXCLUDED FROM SALE:     NONE

13. BUYER’S INVESTIGATION OF
PROPERTY AND MATTERS AFFECTING PROPERTY:

A.           Buyer’s
acceptance of the condition of, and any other matter affecting the Property is
a contingency of this Agreement, as specified in this paragraph and paragraph
17. Within the time specified in paragraph 17, Buyer shall have the right, at
Buyer’s expense unless otherwise agreed, to conduct inspections,
investigations, tests, surveys and other studies (“Buyer Investigations”),
including, but not limited to, the right to: (i) inspect for lead-based paint
and other lead-based paint hazards; (ii) inspect for wood destroying pests and
organisms; (iii) confirm the insurability of Buyer and the Property; and (iv)
satisfy Buyer as to any matter of concern to Buyer. Without Seller’s prior
written consent, Buyer shall neither make nor cause to be made: (i) invasive or
destructive Buyer Investigations; or (ii) inspections by any governmental building
or zoning inspector, or government employee, unless required by Law.

B.             Buyer
shall complete Buyer Investigations and, as specified in paragraph 17, remove
the contingency or cancel this Agreement. Buyer shall give Seller, at no cost,
complete Copies of all Buyer Investigation reports obtained by Buyer. Seller
shall make Property available for all Buyer Investigations. Seller shall have
water, gas. electricity, and all operable pilot lights on for Buyer’s
Investigations and through the date possession is made available to Buyer.

14. REPAIRS: Repairs
shall be completed prior to final verification of condition unless otherwise
agreed in writing. Repairs to be performed at Seller’s expense may be performed
by Seller or through others, provided that the work complies with applicable
Law, including governmental permit, inspection and approval requirements.
Repairs shall be performed in a good, skillful manner with materials of quality
and appearance comparable to existing materials. It is understood that exact
restoration of appearance or cosmetic items following all Repairs may not be
possible. Seller shall: (i) obtain receipts for Repairs performed by others;
(ii) prepare a written statement indicating the Repairs performed by Seller and
the date of such Repairs; and (iii) provide Copies of receipts and statements
to Buyer prior to final verification of condition.

15. BUYER INDEMNITY AND SELLER PROTECTION FOR ENTRY UPON
PROPERTY: Buyer shall: (i) keep the Property free and
clear of liens: (ii) Repair all damage arising from Buyer Investigations; and
(iii) indemnify and hold Seller harmless from all resulting liability, claims,
demands, damages and costs. Buyer shall carry. or Buyer shall require anyone
acting on Buyer’s behalf to carry policies of liability, workers’ compensation
and other applicable insurance, defending and protecting Seller from liability
for any injuries to persons or property occurring during any Buyer
Investigations or work done on the Property at Buyer’s direction prior to Close
Of Escrow. Seller is advised that certain protections may be afforded Seller by
recording a “Notice of Non-Responsibility” (C.A.R. Form NNR) for Buyer
Investigations and work done on the Property at Buyer’s direction. Buyer’s
obligations under this paragraph shall survive the termination of this
Agreement.

16. TITLE AND VESTING:

A.           Within
the time specified in paragraph 17, Buyer shall be provided a current
preliminary (title) report, which is only an offer by the title insurer to
issue a policy of title insurance and may not contain every item affecting
title. Buyer’s review of the preliminary report and any other matters which may
affect title are a contingency of this Agreement as specified in paragraph 17.

B.             Title
is taken in its present condition subject to all encumbrances, easements,
covenants, conditions, restrictions, rights and other matters, whether of
record or not, as of the date of Acceptance except: (i) monetary liens of
record unless Buyer is assuming those obligations or taking the property subject
to those obligations; and (ii) those matters which Seller has agreed to remove
in writing.

C.             Within
the time specified in paragraph 17, Seller has a duty to disclose to Buyer all
matters known to Seller affecting title. whether of record or not.

D.       At
Close Of Escrow, Buyer shall receive a grant deed conveying title (or, for
stock cooperative or long-term lease, an assignment of stock certificate or of
Seller’s leasehold interest), including oil, mineral and water rights if
currently owned by Seller. Title shall vest as designated in Buyer’s
supplemental escrow instructions. THE MANNER OF TAKING TITLE MAY HAVE
SIGNIFICANT LEGAL AND TAX CONSEQUENCES. CONSULT AN APPROPRIATE PROFESSIONAL.

E.         Buyer
shall receive a standard coverage owner’s CLTA policy of title insurance. An
ALTA policy or the addition of endorsements may provide greater coverage for
Buyer. A title company, at Buyer’s request, can provide information about the
availability, desirability, coverage, and cost of various title insurance
coverages and endorsements. If Buyer desires title coverage other than that
required by this paragraph, Buyer shall instruct Escrow Holder in writing and pay
any increase in cost.

17. TIME PERIODS; REMOVAL OF CONTINGENCIES; CANCELLATION
RIGHTS: The following time periods may only be extended, altered, modified or
changed by mutual written agreement. Any removal of contingencies or
cancellation under this paragraph must be in writing (C.A.R. Form RRCR).

A. SELLER HAS: 7
(or o) Days  After
Acceptance to deliver to Buyer all reports, disclosures and information for

which Seller is responsible under paragraphs 5. 6A and B, 8A, 11B, 12B (3) and
(4) and 16.

B. BUYER
HAS: 17 (or o    ) Days After Acceptance, unless otherwise agreed in
writing, to:

(1)     complete
all Buyer Investigations; approve all disclosures, reports and other applicable
information, which Buyer receives from Seller; and approve all matters
affecting the Property (including lead-based paint and lead-based paint hazards
as well as other information specified in paragraph 6 and insurability of Buyer
and the Property).

(2)     Within the time specified in 17B(1). Buyer may request that Seller make
repairs or take any other action regarding the Property (C.A.R. Form RR).
Seller has no obligation to agree to or respond to Buyer’s

                   requests.

(3)     By
the end of the time specified in 17B(1) (or 2J for loan contingency or 2K for
appraisal contingency), Buyer shall remove, in writing, the applicable
contingency (C.A.R. Form RRCR) or cancel this Agreement. However, if the following
inspections, reports or disclosures are not made within the time specified in
17A. then Buyer has 5 (or o    ) Days after
receipt of any such items, or the time specified in 17B(1), whichever is later,
to remove the applicable contingency or cancel this Agreement in writing: (i)
government-mandated inspections or reports required as a condition of closing:
(ii) Common Interest Disclosures pursuant to paragraph 8B, (iii) a subsequent
or amended disclosure pursuant to paragraph 9; (iv) Proposed Changes pursuant
to paragraph 10B; and (v) environmental survey pursuant to paragraph 7.

C. CONTINUATION OF CONTINGENCY OR
CONTRACTUAL OBLIGATION; SELLER RIGHT TO CANCEL:

(1)    Seller right to Cancel: Buyer Contingencies: Seller,
after first giving Buyer a Notice to Buyer to Perform (as specified below), may
cancel this Agreement in writing and authorize return of Buyer’s deposit if, by
the time specified in the Agreement, Buyer does not remove in writing the
applicable contingency or cancel this Agreement. Once all contingencies have
been removed, failure of either Buyer or Seller to close escrow in time may be
a breach of this Agreement.

(2)    Continuation of Contingency: Even
after the expiration of the time specified in 17B(1), Buyer retains the right
to make requests to Seller, remove in writing the applicable contingency or
cancel this Agreement until Seller cancels pursuant to 17C(1). Once Seller
receives Buyer’s written removal of all contingencies, Seller may not cancel
this Agreement pursuant to 17C(1).

(3)    Seller right to Cancel: Buyer Contract Obligations: Seller,
after first giving Buyer a Notice to Buyer to Perform (as specified below), may
cancel this Agreement in writing and authorize return of Buyer’s deposit for
any of the following reasons: (i) if Buyer fails to deposit funds as required
by 2A or 2B; (ii) if the funds deposited pursuant to 2A or 2B are not good when
deposited; (iii) if Buyer fails to provide a letter as required by 2H; (iv) if Buyer fails to provide verification
as required by 21 or 2M: (v) if Seller reasonably disapproves of the
verification provided by 21 or 2M; (vi) if Buyer fails to return statutory
disclosures as required by paragraph 5A(2), or (vii) if Buyer fails to sign or
initial a separate liquidated damage form for an increased deposit as required
by paragraph 21. Seller is not required to
give Buyer a Notice to Perform regarding Close Of Escrow.

(4)    Notice To Buyer To
Perform: The Notice to Buyer to Perform (C.A.R. Form NBP)
shall (i) be in writing; (ii) be signed by Seller and (iii) give Buyer at least
24 (or x 72 ) hours (or until the time
specified in the applicable paragraph, whichever occurs last) to take the
applicable action. A Notice to Buyer to Perform may not be given any earlier
than 2 Days Prior to the
expiration of the applicable time for Buyer to remove a contingency or cancel
the Agreement or meet an 17C(3) obligation.

D. EFFECT OF BUYER’S
REMOVAL OF CONTINGENCIES: If Buyer removes, in writing, any
contingency or cancellation rights, unless otherwise specified in a separate
written agreement between Buyer and Seller, Buyer shall conclusively be deemed
to have: (i) completed all Buyer Investigations, and review of reports and
other applicable information and disclosures pertaining to that contingency or
cancellation right; (ii) elected to proceed with the transaction; and (iii)
assumed all liability, responsibility, and expense for Repairs or corrections
pertaining to that contingency or cancellation right, or for inability to
obtain financing.

E. EFFECT OF
CANCELLATION ON DEPOSITS: If Buyer or Seller gives written notice of cancellation pursuant to
rights duly exercised under the terms of this Agreement, Buyer and Seller agree
to Sign mutual instructions to cancel the sale and escrow and release deposits,
less fees and costs, to the party entitled to the funds. Fees and costs may be
payable to service providers and vendors for services and products provided
during escrow.

Release of
funds will require mutual Signed release instructions from Buyer and Seller,
judicial decision or arbitration award.

18.       FINAL VERIFICATION OF
CONDITION: Buyer shall have the right to make a final
inspection of the Property within 5 (or     )
Days Prior to Close Of Escrow, NOT AS A CONTINGENCY OF THE SALE, but
solely to confirm: (i) the Property is maintained pursuant to paragraph 11A;
(ii) Repairs have been completed as agreed; and (iii) Seller has complied with
Seller’s other obligations under this Agreement.

19.       ENVIRONMENTAL HAZARD
CONSULTATION: Buyer and Seller acknowledge: (i) Federal,
state. and local legislation impose liability upon existing and former owners
and users of real property, in applicable situations, for certain legislatively
defined, environmentally hazardous substances; (ii) Broker(s) has/have made no
representation concerning the applicability of any such Law to this transaction
or to Buyer or to Seller, except as otherwise indicated in this Agreement;
(iii) Broker(s) has/have made no representation concerning the existence,
testing, discovery, location and evaluation of/for, and risks posed by,
environmentally hazardous substances, if any, located on or potentially
affecting the Property; and (iv) Buyer and Seller are each advised to consult
with technical and legal experts concerning the existence, testing, discovery, location
and evaluation of/for, and risks posed by. environmentally hazardous
substances, if any, located on or potentially affecting the Property.

20.       AMERICANS WITH
DISABILITIES ACT: The Americans With Disabilities Act (“ADA”)
prohibits discrimination 

                        against
individuals with disabilities. The ADA affects almost all commercial facilities
and public accommodations. The ADA can require, among other things, that
buildings be made readily accessible to the disabled. Different requirements
apply to new construction, alterations to existing buildings, and removal of
barriers in existing buildings. Compliance with the ADA may require significant
costs. Monetary and injunctive remedies may be incurred if the Property is not
in compliance. A real estate broker does not have the technical expertise to
determine whether a building is in compliance with ADA requirements, or to
advise a principal on those requirements. Buyer and Seller are advised to
contact an attorney, contractor, architect, engineer or other qualified
professional of Buyer’s or Seller’s own choosing to determine to what degree,
if any, the ADA impacts that principal or this transaction.

21.       LIQUIDATED DAMAGES: If
Buyer fails to complete this purchase because of Buyer’s default, Seller shall
retain, as liquidated damages, the deposit actually paid. Buyer and Seller
agree that this amount is a reasonable sum given that it is impractical or
extremely difficult to establish the amount of damages that would actually be
suffered by Seller in the event Buyer were to breach this Agreement. Release of
funds will require mutual, Signed release instructions from both Buyer and
Seller, judicial decision or arbitration award.

BUYER AND SELLER SHALL SIGN A SEPARATE LIQUIDATED
DAMAGES PROVISION FOR ANY INCREASED DEPOSIT (C.A.R. FORM RID).

22.       DISPUTE RESOLUTION:

A.           MEDIATION:
Buyer and Seller agree to mediate any dispute or claim arising between them out
of this Agreement, or any resulting transaction, before resorting to
arbitration or court action. Paragraphs 22B(2) and (3) below apply whether or
not the Arbitration provision is initialed. Mediation tees, if any, shall be
divided equally among the parties involved. If, for any dispute or claim to
which this paragraph applies, any party commences an action without first
attempting to resolve the matter through mediation, or refuses to mediate after
a request has been made, then that party shall not be entitled to recover
attorney fees. even if they would otherwise be available to that party in any
such action. THIS MEDIATION PROVISION APPLIES WHETHER OR NOT THE ARBITRATION
PROVISION IS INITIALED.

B.            ARBITRATION OF DISPUTES:
(1) Buyer and Seller agree that any dispute or claim in Law or equity arising
between them out of this Agreement
or any resulting transaction, which is not settled through mediation, shall be
decided by neutral, binding arbitration, including and subject to paragraphs
22B(2) and (3) below. The arbitrator
shall be a retired judge or justice, or an attorney with at least 5 years of
real estate transactional Law experience, unless the parties mutually agree to
a different arbitrator, who shall
render an award in accordance with substantive California Law. The parties shall have the right to discovery in accordance with Code of Civil Procedure
§1283.05. In all other respects, the arbitration shall be conducted in
accordance with Title 9 of Part III of the California Code of Civil Procedure.
Judgment upon the award of the arbitrator(s) may be entered into any court
having jurisdiction. Interpretation of this agreement to arbitrate shall be
governed by the Federal Arbitration Act.

(2)   EXCLUSIONS FROM MEDIATION AND ARBITRATION: The following matters are excluded from
mediation and arbitration: (i) a judicial or non-judicial foreclosure or other
action or proceeding to enforce a deed of trust, mortgage, or installment land
sale contract as defined in Civil Code §2985; (ii) an unlawful detainer action; (iii) the filing or enforcement of a mechanic’s lien;
and (iv) any matter that is within
the jurisdiction of a probate, small claims, or bankruptcy court. The filing of
a court action to enable the recording of a notice of pending action, for order
of attachment, receivership, injunction, or other provisional remedies, shall
not constitute a waiver of the mediation and arbitration provisions.

(3) BROKERS: Buyer and Seller agree to mediate and
arbitrate disputes or claims involving either or both Brokers, consistent with
22A and B. provided either or both Brokers shall have agreed to such mediation
or arbitration prior to, or within a reasonable time after, the dispute or
claim is presented to Brokers. Any election by either or both Brokers to
participate in mediation or arbitration shall not result in Brokers being
deemed parties to the Agreement.

“NOTICE: BY INITIALING IN THE SPACE BELOW YOU ARE AGREEING TO HAVE ANY
DISPUTE ARISINGOUT OF THE MATTERS INCLUDED IN THE ‘ARBITRATION OF DISPUTES’
PROVISION DECIDED BY NEUTRAL ARBITRATION AS PROVIDED BY CALIFORNIA LAW AND YOU
ARE GIVING UP ANY RIGHTS YOU MIGHT POSSESS TO HAVE THE DISPUTE LITIGATED IN A
COURT OR JURY TRIAL. BY INITIALING IN THE SPACE BELOW YOU ARE GIVING UP YOUR
JUDICIAL RIGHTS TO DISCOVERY AND APPEAL, UNLESS THOSE RIGHTS ARE SPECIFICALLY
INCLUDED IN THE ‘ARBITRATION OF DISPUTES’ PROVISION. IF YOU REFUSE TO SUBMIT TO
ARBITRATION AFTER AGREEING TO THIS PROVISION, YOU MAY BE COMPELLED TO ARBITRATE
UNDER THE AUTHORITY OF THE CALIFORNIA CODE OF CIVIL PROCEDURE. YOUR AGREEMENT
TO THIS ARBITRATION PROVISION IS VOLUNTARY.”

 
“WE HAVE READ AND UNDERSTAND THE FOREGOING AND AGREE TO SUBMIT DISPUTES
ARISING OUT OF THE MATTERS INCLUDED IN THE ‘ARBITRATION OF DISPUTES’ PROVISION
TO NEUTRAL ARBITRATION.”

23.       ASSIGNMENT:  Buyer
shall not assign all or any part of Buyer’s interests in this Agreement without
first having obtained the written consent of Seller. Such consent shall not be
unreasonably withheld, 

                        unless
otherwise agreed in writing. Any total or partial assignment shall not relieve
Buyer of Buyer’s obligations pursuant to this Agreement.

24.       SUCCESSORS AND ASSIGNS:
This Agreement shall be binding
upon, and inure to the benefit of, Buyer and Seller and their respective
successors and assigns, except as otherwise provided herein.

25.       COPIES: Seller and Buyer each represent that
Copies of all reports. documents, certificates. approvals and other documents
that are furnished to the other are true, correct and unaltered Copies of the
original documents, if the originals are in the possession of the furnishing
party.

26.       NOTICES: Whenever
notice is given under this Agreement, each notice shall be in writing, and
shall be delivered personally, by facsimile, or by mail, postage prepaid.
Notice shall be delivered to the address set forth below the recipient’s
signature of acceptance. Either party may change its notice address by providing
notice to the other party.

27.       AUTHORITY: Any
person or persons signing this Agreement represent(s) that such person has full
power and authority to bind that person’s principal, and that the designated
Buyer and Seller has full authority to enter into and perform this Agreement.
Entering into this Agreement, and the completion of the obligations pursuant to
this contract, does not violate any Articles of Incorporation, Articles of
Organization, ByLaws. Operating Agreement, Partnership Agreement or other
document governing the activity of either Buyer or Seller.

28.       GOVERNING LAW: This
Agreement shall be governed by the Laws of the state of California.

29.       PRORATIONS OF PROPERTY TAXES AND OTHER ITEMS: Unless
otherwise agreed in writing, the following items shall be PAID CURRENT and
prorated between Buyer and Seller as of Close Of Escrow: real property taxes
and assessments, interest, rents, HOA regular, special, and emergency dues and
assessments imposed prior to Close Of Escrow, premiums on insurance assumed by
Buyer, payments on bonds and assessments assumed by Buyer, and payments on
Mello-Roos and other Special Assessment District bonds and assessments that are
now a lien. The following items shall be assumed by Buyer WITHOUT CREDIT toward
the purchase price: prorated payments on Mello-Roos and other Special
Assessment District bonds and assessments and HOA special assessments that are
now a lien but not yet due. Property will be reassessed upon change of
ownership. Any supplemental tax bills shall be paid as follows: (i) for periods
after Close Of Escrow, by Buyer; and (ii) for periods prior to Close Of Escrow,
by Seller. TAX BILLS ISSUED AFTER CLOSE OF ESCROW SHALL BE HANDLED DIRECTLY
BETWEEN BUYER AND SELLER. Prorations shall be made based on a 30-day month.

30.       WITHHOLDING TAXES: Seller
and Buyer agree to execute any instrument, affidavit, statement or instruction
reasonably necessary to comply with federal (FIRPTA) and California withholding
Law, if required (C.A.R. Form AS).

31.       MULTIPLE LISTING SERVICE/PROPERTY DATA SYSTEM: If
Broker is a participant of a Multiple Listing Service (“MLS”) or Property Data
System (“PDS”), Broker is authorized to report to the MLS or PDS a pending sale
and, upon Close Of Escrow, the terms of this transaction to be published and
disseminated to persons and entities authorized to use the information on terms
approved by the MLS or PDS.

32.       EQUAL HOUSING OPPORTUNITY: The Property is sold in compliance with
federal, state and local anti­discrimination Laws.

33.       ATTORNEY FEES: In
any action, proceeding, or arbitration between Buyer and Seller arising out of
this Agreement, the prevailing Buyer or Seller shall be entitled to reasonable
attorney fees and costs from the non-prevailing Buyer or Seller, except as
provided in paragraph 22A.

34.       SELECTION OF SERVICE PROVIDERS: If
Brokers refer Buyer or Seller to persons, vendors, or service or product
providers (“Providers”), Brokers do not guarantee the performance of any
Providers. Buyer and Seller may select ANY Providers of their own choosing.

35.       TIME OF ESSENCE; ENTIRE CONTRACT; CHANGES: Time
is of the essence. All understandings between the parties are incorporated in
this Agreement. Its terms are intended by the parties as a final, complete and
exclusive expression of their Agreement with respect to its subject matter, and
may not be contradicted by evidence of any prior agreement or contemporaneous
oral agreement. If any provision of this Agreement is held to be ineffective or
invalid, the remaining provisions will nevertheless be given full force and
effect. Neither this Agreement nor any
provision in it may be extended, amended, modified, altered or changed, except
in writing Signed by Buyer and Seller.

36.       OTHER TERMS AND CONDITIONS, including
attached supplements:

A.
o
Buyer Inspection Advisory (C.A.R. Form BIA)

B.
o
Seller Financing Addendum and Disclosure (C.A.R. Form SFA)

C.
o
Purchase Agreement Addendum (C.A.R. Form PAA paragraph numbers:                   )

D.
o
Buyer Intent to Exchange Supplement (C.A.R. Form BES)

E.
x
Seller Intent to Exchange Supplement (C.A.R. Form SES)

F.
Buyer agrees to participate in Seller’s reverse 1031 exchange at no
additional cost to Buyer

37. DEFINITIONS: As used in this Agreement:

A.            “Acceptance” means
the time the offer or final counter offer is accepted in writing by a party and
is delivered to and personally received by the other party or that party’s
authorized agent in accordance with this offer or a final counter offer.

B.            “Agreement” means
the terms and conditions of this accepted Commercial Property Purchase
Agreement and

                        any
accepted counter offers and addenda.

C.            “C.A.R. Form” means
the specific form referenced. or another comparable form agreed to by the
parties.

D.            “Close Of Escrow” means
the date the grant deed, or other evidence of transfer of title, is recorded.
If the scheduled close of escrow falls on a Saturday, Sunday or legal holiday,
then close of escrow shall be the next business day after the scheduled close
of escrow date.

E.              “Copy- means
copy by any means including photocopy, NCR, facsimile and electronic.

F.              “Days” means
calendar days, unless otherwise required by Law.

G.             “Days After” means the specified number of calendar days
after the occurrence of the event specified, not counting the calendar date on
which the specified event occurs, and ending at 11:59PM on the final day.

H.            “Days Prior”
means the specified number of calendar days before the occurrence of the event
specified, not counting the calendar date on which the specified event is
scheduled to occur.

I.                 “Electronic Copy” or “Electronic Signature” means,
as applicable, an electronic copy or signature complying with California Law.
Buyer and Seller agree that electronic means will not be used by either one to
modify or alter the content or integrity of the Agreement without the knowledge
and consent of the other.

J.              “Law” means any law, code, statute, ordinance,
regulation, rule or order, which is adopted by a controlling city, county,
state or federal legislative. judicial or executive body or agency.

K.            “Notice to Buyer to Perform” means
a document (C.A.R. Form NBP), which shall be in writing and Signed by Seller
and shall give Buyer at least 24 hours (or as
otherwise specified in paragraph 17C(4)) to remove a contingency or
perform as applicable.

L.             “Repairs” means
any repairs (including pest control), alterations, replacements, modifications
and retrofitting of the Property provided for under this Agreement.

M.          “Signed” means
either a handwritten or electronic signature on an original document, Copy or
any counterpart.

N.            Singular
and Plural terms
each include the other, when appropriate.

38. BROKERAGE: Neither
Buyer nor Seller has utilized the services of, or for any other reason owes
compensation to, a licensed real estate broker (individual or corporate),
agent, finder, or other entity, other than as specified in this Agreement, in
connection with any act relating to the Property, including, but not limited
to, inquiries, introductions, consultations and negotiations leading to this
Agreement. Buyer and Seller each agree to indemnify, defend, and hold the
other, the Brokers specified herein and their agents, harmless from and against
any costs, expenses or liability for compensation claimed inconsistent with the
warranty and representations in this paragraph.

39. AGENCY:

A.            POTENTIALLY COMPETING
BUYERS AND SELLERS: Buyer and Seller each acknowledge receipt
of a disclosure of the possibility of multiple representation by the Broker
representing that principal. This disclosure may be part of a listing
agreement, buyer-broker agreement or separate document (C.A.R. Form DA). Buyer
understands that Broker representing Buyer may also represent other potential
buyers, who may consider, make offers on or ultimately acquire the Property.
Seller understands that Broker representing Seller may also represent other
sellers with competing properties of interest to this Buyer.

B.            CONFIRMATION: The
following agency relationships are hereby confirmed for this transaction:

Listing
Agent Keller Williams Realty-North (Print Firm Name) is the agent of
(check one): x the Seller exclusively; or  ̈
both the Buyer and Seller.

Selling
Agent  Coldwell Banker Premier Real Estate (Print Firm Name) (if not
same as Listing Agent) is the agent of (check one): x
the Buyer exclusively: or ol the Seller exclusively; or o
both the Buyer and Seller. Real Estate Brokers are not parties to the Agreement
between Buyer and Seller.

 

40. JOINT ESCROW INSTRUCTIONS TO ESCROW HOLDER:

 A. The following paragraphs, or applicable
portions thereof, of this Agreement constitute the joint escrow instructions of Buyer and
Seller to Escrow Holder, which Escrow Holder is to use along with any related
counter offers and addenda, and any additional mutual instructions to close the
escrow: 1, 2, 4, 5, 16, 17E, 29, 30, 35 368-F, 37, 40, 42, 45A, 46 and
paragraph D of the section titled Real Estate Broker on page 10. If a Copy of
the separate compensation agreement(s) provided for in paragraph 42 or 45A, or
paragraph D of the section titled Real Estate Broker on page 10 is deposited
with Escrow Holder by Broker. Escrow Holder shall accept such agreement(s) and
pay out from Buyer’s or Seller’s funds, or both, as applicable, the Broker’s
compensation provided for in such agreement(s). The terms and conditions of
this Agreement not set forth in the specified paragraphs are additional matters
for the information of Escrow Holder, but about which Escrow Holder need not be
concerned. Buyer and Seller will receive Escrow Holder’s general provisions directly
from Escrow Holder and

          will execute
such provisions upon Escrow Holder’s request. To the extent the general
provisions are inconsistent or conflict with this Agreement, the general
provisions will control as to the duties and obligations of Escrow Holder only.
Buyer and Seller will execute additional instructions, documents and forms
provided by Escrow Holder that are reasonably necessary to close the escrow.

B. A Copy of this Agreement shall be
delivered to Escrow Holder within 3 business days after Acceptance (or o     ).
Buyer and Seller authorize Escrow Holder to accept and rely on Copies and
Signatures as defined in this Agreement as originals, to open escrow and for
other purposes of escrow. The validity of this Agreement as between Buyer and
Seller is not affected by whether or when Escrow Holder Signs this Agreement.

C. Brokers are a
party to the Escrow for the sole purpose of compensation pursuant to paragraphs
42, 45A and paragraph D of the section titled Real Estate Broker on page 10.
Buyer and Seller irrevocably assign to Brokers compensation specified in
paragraphs 42 and 45A. respectively, and irrevocably instruct Escrow Holder to
disburse those funds to Brokers at Close Of Escrow, or pursuant to any other
mutually executed cancellation agreement. Compensation instructions can be
amended or revoked only with the written consent of Brokers. Escrow Holder
shall immediately notify Brokers: (i) if Buyer’s
initial or any additional deposit is not made pursuant to this Agreement, or is
not good at time of deposit with Escrow Holder; or (ii) if Buyer and Seller
instruct Escrow Holder to cancel escrow.

D. A Copy of any
amendment that affects any paragraph for which Escrow Holder is responsible
shall be delivered to Escrow Holder within 2 business days after mutual
execution of the amendment.

41.       SCOPE OF BROKER DUTY: Buyer
and Seller acknowledge and agree that: Brokers: (i) do not decide what price
Buyer should pay or Seller should accept; (ii) do not guarantee the condition
of the Property (iii) do not guarantee the performance, adequacy or
completeness of inspections, services, products or repairs provided or made by
Seller or others; (iv) shall not be responsible for identifying defects that
are not known to Broker(s): (v) shall not be responsible for inspecting public
records or permits concerning the title or use of the Property; (vi) shall not
be responsible for identifying location of boundary lines or other items
affecting title: (vii) shall not be responsible for verifying square footage,
representations of others or information contained in inspection reports, MLS
or PDS, advertisements, flyers or other promotional material, unless otherwise
agreed in writing; (viii) shall not be responsible for providing legal or tax
advice regarding any aspect of a transaction entered into by Buyer or Seller in
the course of this representation; and (ix) shall
not be responsible for providing other advice or information that exceeds the
knowledge, education and experience required to perform real estate licensed
activity. Buyer and Seller agree to seek legal, tax, insurance, title and other
desired assistance from appropriate professionals.

42.       BROKER COMPENSATION FROM
BUYER: If applicable, upon
Close Of Escrow. Buyer agrees to
pay compensation to Broker as specified in a separate written agreement between
Buyer and Broker.

43.       TERMS AND CONDITIONS OF
OFFER:

This is an offer to purchase the Property
on the above terms and conditions. All paragraphs with spaces for initials by
Buyer and Seller are incorporated in this Agreement only if initialed by all
parties. If at least one but not all parties initial, a counter offer is
required until agreement is reached. Seller has the right to continue to offer
the Property for sale and to accept any other offer at any time prior to
notification of Acceptance. Buyer has read and acknowledges receipt of a Copy
of the offer and agrees to the above confirmation of agency relationships. If
this offer is accepted and Buyer subsequently defaults, Buyer may be
responsible for payment of Brokers’ compensation. This Agreement and any
supplement, addendum or modification, including any Copy, may be Signed in two
or more counterparts, all of which shall constitute one and the same writing.

44.       EXPIRATION OF OFFER: This offer shall be deemed revoked and the
deposit shall be returned, unless the offer is Signed by Seller, and a
Copy of the Signed offer is personally received by Buyer, or by     Amy Meredith    ,
who is authorized to receive it by 5:00 PM on the third calendar day after this offer
is signed by Buyer (OR, if checked o by January 11,
2007 (date), at 5:00 x  AM  x  PM).

 

	
  Buyer

  	
      David Elson

  	
   

  	
   

  	
   

  	
   

  
	
  By 

  	
         /s/: David
  Elson

  	
   

  	
   Date

  	
          1-9-07

  	
   

  
	
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  David Elson

  	
   

  	
   

  	
   

  	
   

  
	
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45.       BROKER COMPENSATION
FROM SELLER:

        A.  Upon Close Of Escrow. Seller agrees to pay
compensation to Broker as specified in a separate written agreement between
Seller and Broker.

         B. If escrow does not
close, compensation is payable as specified in that separate written agreement.

46.  ACCEPTANCE OF OFFER: Seller
warrants that Seller is the owner of the Property. or has the authority to
execute this Agreement Seller accepts the above offer, agrees to sell the
Property on the above terms and conditions, and agrees to the above
confirmation  of agency relationships.
Seller has read and acknowledges receipt of a Copy of this Agreement, and
authorizes Broker to deliver a Signed Copy to Buyer.

x
(If checked) SUBJECT TO ATTACHED COUNTER OFFER, DATED     1-10-07

	
  Seller /s/: Leah Pauly

  	
   

  

By     Leah Pauly                                                                         
                                               Date
    1-31-07

Print Name     Coast National Bank

Address     500 Marsh Street     
                         City
     San Luis Obispo           State
    CA      Zip     93401

Telephone        805
543-3409     Fax     805
781-3180          E-mail     lpauly@cnb.com

Seller

By                                                                                                                                                 
Date

Print Name

Address                                                            City
                                                                     State
        Zip    

Telephone                                         
Fax                                  E-mail

(     /    ) Confirmation of
Acceptance:  A Copy of Signed
Acceptance was personally received by Buyer or Buyer’s authorized agent on
(date)      at      o  AM
o PM. A binding Agreement 
is created when a Copy of
Signed Acceptance is personally received by Buyer or Buyer’s authorized
agent  whether or not confirmed in this document. Completion  of this  confirmation is not legally required
in order to create a binding Agreement; it is solely  intended to evidence the date that
Confirmation of Acceptance has  occurred.

REAL ESTATE BROKERS:

A.
Real Estate Brokers are not parties to the Agreement between Buyer and Seller.

B.  Agency relationships are confirmed as stated
in paragraph 39 above.

C.  If specified in paragraph 2A, Agent who
submitted offer for Buyer acknowledges receipt of deposit.

        D.  COOPERATING BROKER
COMENSATION:  Listing Broker agrees to
pay Cooperating Broker (Selling Firm) and
Cooperating Broker agrees to accept, out of Listing Broker’s proceeds in
escrow: (I) the amount specified in the MLS or PDS, provided Cooperating Broker
is a Participant of the MLS or PDS in which the property is offered for sale or
a reciprocal MLS or PDS: or (ii) (if checked) the amount specified in a
separate written agreement (C.A.R. Form CBC) between Listing Broker and
Cooperating Broker.

Real Estate Broker (Selling
Firm):     Coldwell Banker Premier Real Estate    
DRE Lic. #:     

By     /s/
Amy Meredith    Amy Meredith    DRE
Lic. #:  01262113 Date:January 9, 2007

Address:     1288
Morro St., Ste 100     City:    San
Luis Obispo     State:     CA    
Zip:    93401

Telephone:
      Fax:      E-mail:     

Real Estate Broker (Listing Firm)
    Keller Williams Realty-North     DRE
Lic. #     01460640

By     /s/:
Shari Schramm     DRE Lic. #     01354595     Date January 10, 2007

Address     1314
Spring Street     City     Paso Robles    
State     CA     Zip 93446

Telephone
     Fax      E-mail     

ESCROW HOLDER ACKNOWLEDGMENT:

Escrow Holder acknowledges receipt of a
Copy of this Agreement, (if checked. x
a deposit in the amount of 

$7,000.00) counter offer numbers      1,2,3,4    and     

     and agrees to act as
Escrow Holder subject to paragraph 40 of this Agreement, any supplemental
escrow instructions and the terms of Escrow Holder’s general provisions.

Escrow
Holder is advised that the date of Confirmation of Acceptance of the Agreement
as between Buyer and Seller is     1-31-07

Escrow
Holder is First American Title Escrow # 2680185 M/C

Escrow 
#  2680185 M/C

By     /s/: Margie
Danley/Cindy Majewski                                                                                     Date
    2/1/07

Address 
504 First Street, Suite B, Paso Robles, CA 93446

Phone/Fax/E-mail
    

Escrow Holder is licensed by the California
Department of   ̈ Corporations, x
Insurance,   ̈  Real Estate. 
DRE

License #

(    
/     ) REJECTION OF OFFER: 
No counter offer is being made. 
This offer is being made.  This
offer was reviewed  (Seller’s Initials)    and
rejected by seller on      (Date).

FINAL COUNTEROFFER NO. 4

Date
     January 29, 2007     , at    Atascadero    ,
California

This
is a counter offer to the: o Residential Purchase Agreement, o
Counter Offer, x Other Commercial    

(“Offer”), dated     January 12, 2007, on property know as     2045
Spring Street (“Property”), between David Elson,  (“Buyer), and     Coast
National Bank     (“Seller),

1. TERMS:
The terms and conditions of the above referenced document are accepted subject to the following:

A.       Paragraphs in the Offer that
require initials by all parties, but are not initialed by all parties, are
excluded from the final agreement unless specifically referenced for inclusion
in paragraph 1C of this or another Counter Offer.

B.       Unless otherwise specified in
writing, down payment and loan amount(s) will be adjusted in the same
proportion as in the original Offer.

C.        1.
Expiration of Counter Offer Three is extended until February 02, 2007 at 5:00
pm

      2. Purchase price to be $730,000.00 (Seven —Hundred
Thirty Thousand Dollars).

D.     The
following attached addenda/supplements are incorporated in this Counter Offer: o Contract Addendum No.     o    o

2. RIGHT TO
ACCEPT OTHER OFFERS: Seller
reserves the right to continue to offer the Property for sale or for other
transaction, and to accept any other offer at any time prior to communication of
acceptance, as described in paragraph 3. If this is a Seller Counter Offer,
Seller’s acceptance of another offer prior to Buyer’s acceptance and
communication of acceptance of this Counter Offer, shall revoke this Counter
Offer.

3. EXPIRATION: This Counter Offer shall be deemed revoked and
deposits, if any, shall be refunded unless this Counter Offer is signed by the
Buyer or Seller to whom it is sent and a Copy of the signed Counter Offer is
personally received by the person making this Counter Offer or     Amy Meredith who
is authorized to receive it by
5:00 PM on the third Day after this Counter Offer is made or, (if checked) by x date: February 2. 2007    (date),
at     5:00     o    AM  x   PM.

This Counter Offer may be
executed in counterparts.

4. o (If Checked:) MULTIPLE COUNTER
OFFER: Seller is making a
Counter Offer(s) to another prospective buyer(s) on terms that may or may not
be the same as in this Counter Offer. 
Acceptance of this Counter Offer by Buyer shall not be binding unless and until it is
subsequently re-Signed by Seller in paragraph 7 below and a Copy of the Counter
Offer Signed in paragraph 7 is personally received by Buyer or by, who is
authorized to receive it, by 5:00 PM on the third Day after this Counter Offer
is made or, (if checked) by (date), at                  
o   AM o  PM
Prior to the completion of all of these events, Buyer and Seller shall have no
duties or obligations for the purchase or sale of the Property.

5. OFFER:   x  BUYER OR o SELLER MAKES THIS
COUNTER OFFER ON THE TERMS ABOVE AND ACKNOWLEDGES RECEIPT OF A COPY.

	
  

  	
  /s/: David A. Elson

  	
   

  	
  Date 

  	
  1-30-07

  	
   

  

 

                                                                                                                 
Date

6. ACCEPTANCE: I/WE accept the above Counter Offer (If checked q  SUBJECT TO THE ATTACHED COUNTER OFFER) and
acknowledge receipt of a Copy.

                                                                                          Date                                                  Time

o   AM  o   PM

                                                                                                             Date                                                 
Time
 o   AM  o    PM

7. MULTIPLE COUNTER OFFER SIGNATURE LINE: By signing
below, Seller accepts this Multiple Counter Offer.

      NOTE TO SELLER: Do NOT sign in this box
until after Buyer signs in paragraph 6.) (Paragraph 7 applies only if paragraph
4 is checked.)

                                                          
                               Date                                                 
Time

o   AM  o   PM

                                                                                                             Date                                                  Time
 o   AM  o   PM

8. (_       /        ) (Initials) Confirmation
or Acceptance:  A Copy of
Signed Acceptance was personally received by the maker of the Counter Offer, or
that  the person’s authorized agent as
specified in paragraph 3 (or, if this is a Multiple Counter Offer, the Buyer of
Buyer’s authorized agent as specified in paragraph 4) on (date)                                     
, at       o    AM      o  PM.  A
binding Agreement is created  when  a Copy of Signed Acceptance is personally
received by the maker of the Counter Offer, or that the person’s authorized
agent (or, if this is a Multiple Counter Offer, the Buyer or Buyers authorized
agent) whether or not confirmed in this document.  Completion of this confirmation is not
legally required in order to create a binding Agreement: it is solely intended
to evidence the date that Confirmation of Acceptance has occurred.

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