Document:

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                                                                    Exhibit 4.29

      Third Amendment and Waiver to Amended and Restated Credit Agreement

To each of the Lenders
party to the Credit Agreement
referred to below

Ladies and Gentlemen:

     Reference is hereby made to that certain Amended and Restated Credit
Agreement dated as of June 30, 1999, as amended (the "Credit Agreement"),
between the undersigned, Everest Healthcare Services Corporation (the
"Company"), the Lenders party thereto, and Harris Trust and Savings Bank, as
Agent. All capitalized terms used herein without definition shall have the same
meanings herein as such terms have in the Credit Agreement.

     The Company has requested that the Lenders make certain amendments to the
financial covenants and waive the Company's non-compliance with Section 7.17 of
the Credit Agreement with respect to an October, 1999 redemption of certain
capital stock of the Company, and the Lenders are willing to do so under the
terms and conditions set forth in this agreement (herein, the "Amendment").

1.   Amendment.

     Subject to the satisfaction of the conditions set forth in Section 3 below,
Section 7.9 of the Credit Agreement shall be amended and restated in its
entirety to read as follows (which shall be deemed effective as of October 19,
1999):

               "Section 7.9. Net Worth. The Company shall, at all times,
          maintain Net Worth of not less than the sum of (a) $40,435,259, plus
          (b) 75% of Net Income for each fiscal year of the Company ending after
          the date hereof (commencing with the fiscal year ending September 30,
          2000) for which such Net Income is a positive amount (i.e., there
          shall be no reduction to the amount of Net Worth required to be
          maintained hereunder for any fiscal year in which Net Income is less
          than zero), plus (c) 100% of the Net Issuance Proceeds from the
          issuance of any equity securities by the Company or its Restricted
          Subsidiaries subsequent to the date of this Agreement."

2.   Waiver.

     The Company acknowledges that on October 19, 1999, as a result of a court
ordered divorce settlement, the Company purchased 65,134 shares of its capital
stock from Tom Creel, a director of the Company for an aggregate price of
approximately $849,999 (the "Purchase"). The Company hereby requests that the
Required Lenders waive, effective as of the date of the
<PAGE>

Purchase, (i) the provisions of Section 7.17 of the Credit Agreement with
respect to the Purchase and (ii) Section 7.9 of the Credit Agreement in effect
prior to the date of this Amendment to the extent the Company would not be in
compliance with Section 7.9 as a result of the Purchase (the "Purchase
Defaults"). Upon the effectiveness of this Amendment as hereinafter set forth,
the Required Lenders hereby waive the Purchase Defaults effective as of the date
of the Purchase.

3.   Conditions Precedent.

     The effectiveness of this Amendment is subject to the satisfaction of all
of the following conditions precedent:

          3.1.  The Company, the Agent, and the Required Lenders shall each have
     executed and delivered this Amendment;

          3.2.  The Restricted Subsidiaries shall have executed and delivered
     their consent to this Amendment in the space provided for that purpose
     below; and

          3.3.  Legal matters incident to the execution and delivery of this
     Amendment and to the transactions contemplated hereby shall be reasonably
     satisfactory to the Agent and its counsel.

4.   Representations.

     In order to induce the Lenders to execute and deliver this Amendment, the
Company hereby represents to the Agent and the Lenders that as of the date
hereof, and after giving effect to this Amendment, the representations and
warranties set forth in Section 5 of the Credit Agreement are and shall be and
remain true and correct and the Company and its Restricted Subsidiaries are in
compliance with all of the terms and conditions of the Credit Agreement and the
other Loan Documents and no Default or Event of Default has occurred and is
continuing under the Credit Agreement or shall result after giving effect to
this Amendment.

5.   Termination of Y2K Revolving Credit Commitments.

     Pursuant to Section 3.8(a) of the Credit Agreement, the Company hereby
requests, and the Lenders hereby agree and acknowledge that as of April 1, 2000,
the Y2K Revolving Credit Commitments shall terminate in whole.

6.   Miscellaneous.

     6.1.  The Company and its Restricted Subsidiaries have heretofore executed
and delivered to the Agent and the Lenders one or more Collateral Documents. The
Company and, by signing below, the Restricted Subsidiaries hereby acknowledge
and agree that the Obligations arising out of the Credit Agreement as amended
hereby remain subject to the Lien of the Collateral Documents and that the
rights and remedies of the Agent and the Lenders thereunder, the obligations of
the Company and its Restricted Subsidiaries thereunder, and the Liens created
and provided for thereunder remain in full force and effect and shall not be
affected, impaired, or

                                      -2-
<PAGE>

discharged hereby. Nothing herein contained shall in any manner affect or impair
the priority of the liens and security interests created and provided for by the
Collateral Documents as to the indebtedness which would be secured thereby
prior to giving effect to this Amendment.

     6.2.  Except as specifically amended herein or consented to hereby, the
Credit Agreement shall continue in full force and effect in accordance with its
terms. Reference to this specific Amendment need not be made in the Credit
Agreement, or any other instrument or document executed in connection therewith,
or in any certificate, letter or communication issued or made pursuant to or
with respect to the Credit Agreement, any reference in any of such items to the
Credit Agreement being sufficient to refer to the Credit Agreement as amended
hereby.

     6.3.  The Company agrees to pay on demand all reasonable, documented costs
and expenses of or incurred by the Agent in connection with the preparation,
execution, and delivery of this Amendment and any other instruments and
documents contemplated hereby, including the reasonable, documented fees and
expenses of counsel for the Agent.

     6.4.  This Amendment may be executed in any number of counterparts, and by
the different parties on different counterpart signature pages, all of which
taken together shall constitute one and the same agreement. Any of the parties
hereto may execute this Amendment by signing any such counterpart and each of
such counterparts shall for all purposes be deemed to be an original. This
Amendment shall be governed by the internal laws of the State of Illinois.

     Dated as of March 1, 2000.

                                         Everest Healthcare Services
                                           Corporation

                                         By /s/ Lawrence D. Damron
                                            -------------------------------
                                            Lawrence D. Damron
                                            Chief Financial Officer

     Accepted and agreed to as of the date and year last above written.

                                         Harris Trust and Savings Bank,
                                           individually as a Lender and as Agent

                                         By /s/ Gloria Compean-Endicott
                                            -------------------------------
                                            Name   Gloria Compean-Endicott
                                                   ------------------------
                                            Title  Vice President
                                                   ------------------------

                                      -3-
<PAGE>

                                    Comerica Bank

                                    By /s/ Colleen M. Murphy
                                       ---------------------------------

                                       Name Colleen M. Murphy
                                            ----------------------------

                                       Title Vice President
                                             ---------------------------

                                    Mercantile Bank National Association

                                    By /s/ Mary Ann Lemonds
                                       ---------------------------------

                                       Name Mary Ann Lemonds
                                            ----------------------------

                                       Title Vice President
                                             ---------------------------

                                    Bank of America National Trust and
                                     Savings Association

                                    By /s/ Steven Koilderup
                                       ---------------------------------

                                       Name Steven Koilderup
                                            ----------------------------

                                       Title Vice President
                                             ---------------------------

                                    Key Corporation Capital Inc.

                                    By
                                      -------------------------------

                                       Name
                                            ----------------------------

                                       Title
                                             ---------------------------

                                      -4-
<PAGE>

                                    M&I Marshall & Ilsley Bank

                                    By /s/ Peter R. Van Housen
                                       ---------------------------------

                                       Name Peter R. Van Housen
                                            ----------------------------

                                       Title Vice President
                                             ---------------------------

                                    By /s/ Thomas R. Ellis
                                       ---------------------------------

                                       Name Thomas R. Ellis
                                            ----------------------------

                                       Title Senior Vice President
                                             ---------------------------

                                      -5-
<PAGE>

                          ACKNOWLEDGMENT AND CONSENT

     The undersigned, being all of the Restricted Subsidiaries of Everest
Healthcare Services Corporation, have heretofore executed and delivered to the
Agent and the Lenders one or more Guaranties and certain other Loan Documents.
Each of the undersigned hereby consents to the Amendment to the Credit Agreement
as set forth above and confirms that its Guaranty the other Loan Documents
executed by it and all of its obligations thereunder remain in full force and
effect. Each of the undersigned further agrees that the consent of the
undersigned to any further amendments to the Credit Agreement shall not be
required as a result of this consent having been obtained.

     Dated as of March 1, 2000.

WSKC DIALYSIS SERVICES, INC.           THE EXTRACORPOREAL ALLIANCE, L.L.C.
NEW YORK DIALYSIS MANAGEMENT, INC.     TRI-STATE PERFUSION, L.L.C.
MERCY DIALYSIS CENTER, INC.            PERFUSION RESOURCE ASSOCIATION, L.L.C.
DUPAGE DIALYSIS, LTD.
HOME DIALYSIS OF AMERICA, INC.         By: EVEREST MANAGEMENT, INC., as
HOME DIALYSIS OF EASTGATE, INC.            Manager
DIALYSIS SERVICES OF CINCINNATI, INC.
EVEREST MANAGEMENT, INC.
HOME DIALYSIS OF MOUNT AUBURN, INC.        By /s/ Lawrence D. Damron
CONTINENTAL HEALTH CARE, LTD.                 ----------------------------------
CON-MED SUPPLY COMPANY, INC.                  Lawrence D. Damron, an authorized
NORTH BUCKNER DIALYSIS CENTER, INC.           signatory
EVEREST NEW YORK HOLDINGS, INC.
EVEREST ONE IPA, INC.
EVEREST TWO IPA, INC.
EVEREST THREE IPA, INC.
ACUTE EXTRACORPOREAL SERVICES, L.L.C.
DIALYSIS SPECIALISTS OF TOPEKA, INC.
EVEREST HEALTHCARE OHIO, INC.
DIALYSIS SPECIALISTS OF TULSA, INC.
EVEREST HEALTHCARE INDIANA, INC.
NORTHERN NEW JERSEY DIALYSIS, L.L.C.
EVEREST HEALTHCARE TEXAS HOLDING CORP.

By /s/ Lawrence D. Damron
   -----------------------------------
   Lawrence D. Damron, an authorized
   signatory
<PAGE>

SAINT MARGARET MERCY DIALYSIS CENTERS, L.L.C.
TERRELL DIALYSIS CENTER, L.L.C.

By: EVEREST HEALTHCARE SERVICES CORPORATION,
    as Manager

    By /s/ Lawrence D. Damron
       --------------------------------------
       Lawrence D. Damron, an authorized
       signatory

EVEREST HEALTHCARE TEXAS, L.P.

By: NORTH BUCKNER DIALYSIS CENTER, INC.,
    as General Partner

    By /s/ Lawrence D. Damron
       --------------------------------------
       Lawrence D. Damron, an authorized
       signatory

                                      -2-<PAGE>   1
                                                                     EXHIBIT 4.1

          Form of the Registrant's Class P Preferred Stock Certificate.

[front of Certificate]

                   APARTMENT INVESTMENT AND MANAGEMENT COMPANY

Number P                                                                  Shares
      --------------------                             -------------------
<TABLE>

<S>                                                     <C>

Class P Convertible Cumulative Preferred Stock          Incorporated under the laws of the State of Maryland

This certificate is transferable in
   Boston, MA or New York, NY                           CUSIP      03748R 86 1

                                                        See reverse for certain definitions

                                                        Countersigned and registered

                                                        Fleet National Bank        Transfer Agent and Registrar

                                                        By
                                                          -----------------------
                                                            Authorized Signature
</TABLE>

This certifies that ________________is the owner of ____________________________
fully paid and non-assessable shares of the Class P Convertible Cumulative
Preferred Stock, $.01 par value, of Apartment Investment and Management Company,
transferable only on the books of the Corporation by the holder hereof in person
or by duly authorized attorney upon surrender of this Certificate properly
endorsed. This Certificate is not valid unless countersigned by the Transfer
Agent and registered by the Registrar.

      Witness the facsimile seal of the Corporation and the facsimile signatures
of its duly authorized officers.

Dated                                                /s/ Terry Considine
     -------------------------------                 ---------------------------
                                                     Chief Executive Officer

                                        [SEAL]

/s/ Joel Bonder                                      /s/ Peter Kompaniez
-----------------------------------                  ---------------------------
Secretary                                            President

<PAGE>   2

[back of Certificate]

      APARTMENT INVESTMENT AND MANAGEMENT COMPANY

      This certificate and the shares represented thereby shall be held subject
to all of the provisions of the Charter and the By-Laws of Apartment Investment
and Management Company (the "Corporation"), a copy of each of which is on file
at the office of the Corporation, and made a part hereof as fully as though the
provisions of said Charter and By-Laws were imprinted in full on this
certificate, to all of which the holder of this certificate, by acceptance
hereof, assents and agrees to be bound. The shares represented hereby are
convertible into shares of Class A Common Stock, par value $.01 per share, of
the Corporation at the option of the holder hereof.

      The Corporation will furnish to any stockholder on request and without
charge a full statement of the designations and any preferences, conversion and
other rights, voting powers, restrictions, limitations as to dividends,
qualifications, and terms and conditions of redemption of the stock of each
class which the Corporation is authorized to issue, of the differences in the
relative rights and preferences between the shares of each series of a preferred
or special class in series which the Corporation is authorized to issue, to the
extent they have been set, and of the authority of the Board of Directors to set
the relative rights and preferences of subsequent series of a preferred or
special class of stock. Such request may be made to the secretary of the
Corporation or to its transfer agent.

      The shares of Class P Convertible Cumulative Preferred Stock represented
by this certificate are subject to restrictions on transfer. No person may
Beneficially Own shares of Class P Convertible Cumulative Preferred Stock in
excess of the Ownership Restrictions, as applicable, with certain further
restrictions and exceptions set forth in the Charter (including the Articles
Supplementary setting forth the terms of the Class P Convertible Cumulative
Preferred Stock). Any Person that attempts to Beneficially Own shares of Class P
Convertible Cumulative Preferred Stock in excess of the applicable limitation
must immediately notify the Corporation. All capitalized terms in this legend
have the meanings ascribed to such terms in the Charter (including the Articles
Supplementary setting forth the terms of the Class P Convertible Cumulative
Preferred Stock), as the same may be amended from time to time, a copy of which,
including the restrictions on transfer, will be sent without charge to each
stockholder that so requests. If the restrictions on transfer are violated (i)
the transfer of the shares of Class P Convertible Cumulative Preferred Stock
represented hereby will be void in accordance with the Charter (including the
Articles Supplementary setting forth the terms of the Class P Convertible
Cumulative Preferred Stock) or (ii) the shares of Class P Convertible Cumulative
Preferred Stock represented hereby will automatically be transferred to a
Trustee of a Trust for the benefit of one or more Charitable Beneficiaries.

      The following abbreviations, when used in the inscription on the face of
this Certificate, shall be construed as though they were written out in full
according to applicable laws or regulations:

      TEN COM  -  as tenants in common       UNIF GIFT MIN ACT -  Custodian

                                       30

<PAGE>   3

<TABLE>
<S>              <C>                                   <C>
                                                       ___________(Cust)____________(Minor)

      TEN ENT    -  as tenants by the entireties       Under Uniform Gifts to Minors
                                                       Act _____________________
      JT TEN     -  as joint tenants with right of               (State)
                    survivorship and not as tenants
                    in common

</TABLE>

     Additional abbreviations may also be used though not in the above list.

For Value received _________________________________hereby sell, assign and
transfer unto _____________________________ PLEASE INSERT SOCIAL SECURITY OR
OTHER IDENTIFYING NUMBER OF TRANSFEREE (NAME AND ADDRESS OF TRANSFEREE SHOULD BE
PRINTED OR TYPEWRITTEN) __________________ Shares of the Class P Convertible
Cumulative Preferred Stock represented by the within Certificate and do hereby
irrevocably constitute and appoint __________________ Attorney to transfer the
said stock on the books of the within-named Corporation with full power of
substitution in the premises.

Dated:                            SIGNATURE
      ----------------------------         -------------------------------------

NOTICE: THE SIGNATURE(S) OF THIS ASSIGNMENT MUST CORRESPOND WITH NAME(S) AS
WRITTEN UPON THE FACE OF THE CERTIFICATE IN EVERY PARTICULAR, WITHOUT ALTERATION
OR ENLARGEMENT OR ANY CHANGE WHATEVER.

SIGNATURE(S) GUARANTEED

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

THE SIGNATURE(S) SHOULD BE GUARANTEED BY AN ELIGIBLE GUARANTOR INSTITUTION,
(BANKS, STOCKBROKERS, SAVINGS AND LOAN ASSOCIATIONS AND CREDIT UNIONS WITH
MEMBERSHIP IN AN APPROVED SIGNATURE GUARANTEE MEDALLION PROGRAM), PURSUANT TO
S.E.C. RULE 17Ad-15.

                                 CONVERSION FORM

           (To be executed only upon conversion of Class P Convertible
                          Cumulative Preferred Stock)

To:  Apartment Investment and Management Company

      The undersigned registered holder of the within shares of Class P
Convertible Cumulative Preferred Stock hereby irrevocably converts such shares
into ______________shares of Class A Common Stock of Apartment Investment and
Management Company pursuant to the terms of the Class P Convertible Cumulative
Preferred Stock, and requests that the certificates for such shares be issued:

in the name of  ________________________________________________________________
and delivered to________________________________________________________________
whose address is________________________________________________________________

                                       31

<PAGE>   4

Dated:
      ---------------------------------     ------------------------------------
                                            Signature must conform in all
                                            respects to name of holder as
                                            specified on the face of the Class P
                                            Convertible Cumulative Preferred
                                            Stock certificate.
Signed in the presence of:
                                            ------------------------------------
                                            (Street Address)

---------------------------------------     ------------------------------------
                                            City          State       Zip Code

                                      32

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