Document:

THIRD
AMENDMENT

    TO

    LOAN AND
SECURITY AGREEMENT

     

    This
Third Amendment to Loan & Security Agreement is entered into as of February
15, 2011, (the “Amendment”) by and between PENINSULA BANK BUSINESS FUNDING, a
division of THE PRIVATE BANK OF THE PENINSULA (“Bank”) and OPTEX SYSTEMS, INC.
(“Borrower”)

     

    RECITALS

     

    Borrower
and Bank are parties to that certain Loan & Security Agreement dated as of
March 4, 2010 as amended from time to time including that certain First
Amendment to Loan & Security Agreement dated as of August 3, 2010 and that
certain Second Amendment to Loan & Security Agreement dated as of November
29, 2010 (collectively the “Agreement”). The parties desire to amend the
Agreement in accordance with the terms of this Amendment.

     

    NOW
THEREFORE, the parties agree as follows:

     

    
      	
              1.

            	
              “Revolving Line” means a
      credit extension of up to One Million
  ($1,000,000).

            

    

     

    
      	
              2.

            	
              “Revolving Maturity Date”
      means April 15, 2011.

            

    

     

    
      	
              3.

            	
              Section
      2.3(a) (ii) Minimum Interest is
      amended to read as follows:

            

    

     

    Irrespective
of the amount of Advances outstanding from time to time, Borrower shall pay Bank
a minimum interest payment of not less than Eight Thousand Five Hundred ($8,500)
per quarter (the “Minimum Interest Payment”)

     

    4.            Section 6.8 EBITDA is deleted in its
entirety

     

    5.            Unless
otherwise defined, all initially capitalized terms in this Amendment shall be as
defined in the Agreement. The Agreement, as amended hereby, shall remain in full
force and effect in accordance with its terms. Except as expressly set forth
herein, the execution, delivery, and performance of this Amendment shall not
operate as a waiver of, or as an amendment of, any right, power, or remedy of
Bank under the Agreement, as in effect prior to the date hereof, or the Security
Agreement.

     

    6.   
        This Amendment may be executed
in any number of counterparts and by different parties on separate counterparts,
each of which, when executed and delivered, shall be deemed to be an original,
and all of which, when taken together, shall constitute but one and the same
Amendment. In the event that any signature is delivered by facsimile
transmission or by e-mail delivery of a “.pdf” format data file, such signature
shall create a valid and binding obligation of the party executing (or on whose
behalf such signature is executed) with the same force and effect as if such
facsimile or “.pdf” signature page were an original thereof. Notwithstanding the
foregoing, Borrower shall deliver all original signed documents requested by
Bank no later than ten (10) Business Days following the date of this
Amendment.

     

    7.         
   As a condition to the effectiveness of this Amendment, Bank
shall have received, in form and substance satisfactory to Bank, the
following:

     

    (a)        this
Amendment, duly executed by Borrower.

     

    (b)        such
other documents and completion of such other matters, as Bank may reasonably
deem necessary or appropriate.

    
      
         

      

      
         

        
          

        

      

      
         

      

    

     

    IN
WITNESS WHEREOF, the undersigned have executed this Amendment as of the first
date above written.

     

    
      
        
          
            
              
                	 
      	
                        OPTEX
      SYSTEMS, lNC.

                      
	 
      	 
      
	 
      	
                        By:

                      	      
                        Karen
      Lea Hawkins

                      
	 
      	 
      
	 
      	
                        Title:

                      	VP
      Finance / Controller  
	 
      	 
      
	 
      	
                        PENINSULA
      BANK BUSINESS FUNDING, A DIVISION

                        OF
      THE PRIVATE BANK OF THE PENINSULA

                      
	 
      	 
      
	 
      	
                        By:

                      	 
      
	 
      	 
      
	 
      	
                        Title:PLAN
OF LIQUIDATION

     

    This Plan
of Liquidation (the “Plan”), dated as of February 16, 2011, is entered into by
and among Behringer Harvard Mid-Term Value Enhancement Fund I LP, a Texas
limited partnership (the “Partnership”), Robert M. Behringer (“Behringer”) and
Behringer Harvard Advisors I LP, a Texas limited partnership (“BH Advisors” and
together with Behringer, the “General Partners”), and is intended to accomplish
the complete liquidation and dissolution of the Partnership.

     

    RECITALS

     

    WHEREAS,
the General Partners, among others, are parties to an Agreement of Limited
Partnership, dated as of July 30, 2002, amended on June 2, 2003 and March 29,
2006 (as amended, the “Partnership Agreement”); and

     

    WHEREAS,
the General Partners have determined that it is in the best interest of the
Partnership to complete the liquidation of the Partnership pursuant to the
adoption of this Plan; and

     

    WHEREAS,
in furtherance hereof, the General Partners shall (i) transfer the Partnership’s
right, title and interest in and to all of its assets and liabilities, including
any cash, to a liquidating trust (the “Liquidating Trust”), with BH Advisors as
its managing trustee (the “Managing Trustee”), for the benefit of the holders of
limited partnership interests of the Partnership (the “Unitholders”); and (ii)
cause the Liquidating Trust, pursuant to the terms of a Liquidating Trust
Agreement (the “Liquidating Trust Agreement”) by and among the Partnership, the
Managing Trustee, and CSC Trust Company of Delaware, as resident trustee (the
“Resident Trustee” and, with the Managing Trustee, the “Trustees”), dated as of
even date herewith, a form of which is attached as Exhibit A hereto, to
distribute all of the net cash proceeds from the sale of assets of the
Liquidating Trust and cash, less reserves for any contingent liabilities, to the
beneficiaries of the Liquidating Trust; and

     

    WHEREAS,
pursuant to the terms of the Liquidating Trust Agreement, the Unitholders of the
Partnership shall receive, in exchange for their respective limited partnership
interests in the Partnership, a pro rata beneficial interest in the Liquidating
Trust; and

     

    WHEREAS,
following the liquidation of the Partnership in accordance herewith, the General
Partners shall proceed with a dissolution of the Partnership in accordance with
the applicable provisions of the Texas Business Organizations Code;
and

     

    WHEREAS,
in furtherance of the liquidation and dissolution of the Partnership as
described herein, the General Partners have adopted and approved this
Plan.

     

    NOW
THEREFORE, the General Partners authorize the following on behalf of the
Partnership:

     

    1.           The
Partnership shall enter into, execute and deliver the Liquidating Trust
Agreement with the Trustees.

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    2.           The
Partnership shall enter into, execute and deliver to the Managing Trustee a Bill
of Sale, Assignment, Acceptance and Assumption Agreement, a form of which is
attached hereto as Exhibit B (the “Bill of Sale”), which, together with related
transfer instruments, shall transfer and assign to the Liquidating Trust, all
right, title, interest in and to, and liabilities and obligations related to,
all assets, including, but not limited to, any cash reserves and any other
assets and liabilities held by the Partnership as of the date of such Bill of
Sale.  The assets in the Liquidating Trust shall be reserved,
liquidated or distributed by the Managing Trustee in accordance with the terms
of the Liquidating Trust Agreement.

     

    3.           The
Partnership shall continue to indemnify the General Partners and their officers,
directors, employees and agents in accordance with the Partnership’s Certificate
of Limited Partnership, the Partnership Agreement and any contractual
arrangements, for actions taken in connection with this Plan.  The
General Partners are authorized to obtain and maintain insurance as may be
necessary, appropriate or advisable to cover the Partnership’s obligations
hereunder.

     

    4.           If
for any reason the General Partners determine that such action would be in the
best interests of the Partnership, it may amend or modify the Plan and the
actions contemplated hereunder without any action or approval from the limited
partners.

     

    5.           The
General Partners shall cause the Partnership to file with the Secretary of State
of the State of Texas, a Certificate of Termination, which cancels the
Partnership’s Certificate of Limited Partnership.

     

    6.           The
General Partners shall take any and all other actions deemed required, necessary
or desirable to complete the liquidation and dissolution of the Partnership,
including, but not limited to, the execution and delivery of any and all
agreements, certificates, instruments or other documents deemed required,
necessary or desirable in connection therewith.

     

    [The
remainder of this page is left intentionally blank.]

    
      
         

      

      
         

        
          

        

      

      
         

      

    

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

     

    
      
        
          
            
              
                	 
      	
                        PARTNERSHIP:

                      
	 
      	 
      
	 
      	
                        BEHRINGER
      HARVARD MID-TERM VALUE ENHANCEMENT FUND I LP

                      
	 
      	 
      	 
      	 
      
	 
      	
                        By:

                      	
                        /s/ Robert M. Behringer

                      
	 
      	 
      	
                        Robert
      M. Behringer, General Partner

                      
	 
      	 
      	 
      	 
      
	 
      	
                        By:

                      	
                        Behringer
      Harvard Advisors I LP

                      
	 
      	 
      	
                        its
      General Partner

                      
	 
      	 
      	 
      	 
      
	 
      	 
      	
                        By:

                      	
                        /s/ Gerald J. Reihsen,
  III

                      
	 
      	 
      	
                        Name:  Gerald
      J. Reihsen, III

                      
	 
      	 
      	
                        Title:    Executive
      Vice President – Corporate

                      
	 
      	 
      	
                                     Development
      & Legal and Assistant

                      
	 
      	 
      	
                                     Secretary

                      
	 
      	 
      	 
      	 
      
	 
      	
                        GENERAL
      PARTNERS:

                      
	 
      	 
      
	 
      	
                        BEHRINGER
      HARVARD ADVISORS I LP

                      
	 
      	 
      	 
      	 
      
	 
      	
                        By:

                      	
                        /s/ Gerald J. Reihsen,
  III

                      
	 
      	Name: 
      Gerald J. Reihsen, III
	 
      	Title:    Executive
      Vice President-Corporate
	 
      	             Development
      & Legal and Assistant
	 
      	             Secretary
	 
      	 
      	 
      
	 
      	
                        /s/ Robert M. Behringer

                      
	 
      	
                        ROBERT
      M.
BEHRINGER

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