Document:

<PAGE>

                                                                    EXHIBIT 10.8
                                                               EXECUTION VERSION

                          THIRD SUPPLEMENTAL INDENTURE

         THIRD SUPPLEMENTAL INDENTURE (this "Third Supplemental Indenture"),
dated as of October 10, 2003, to the Trust Indenture, dated as of November 1,
1994 (as supplemented prior to the date hereof, the "Indenture"), among
Indiantown Cogeneration, L.P., a Delaware limited partnership (the
"Partnership"), its executive office and mailing address being at 7600 Wisconsin
Avenue, Bethesda, Maryland 20814, Indiantown Cogeneration Funding Corporation, a
Delaware corporation (the "Company"), its executive office and mailing address
being at 7600 Wisconsin Avenue, Bethesda, Maryland 20814, and The Bank of New
York, as successor trustee to NationsBank of Florida, N.A. (the "Trustee"), its
Corporate Trust Division being at The Bank of New York Plaza, 10161 Centurion
Parkway, Jacksonville, Florida 32256. Capitalized terms used in this Third
Supplemental Indenture without definition shall have the meaning ascribed
thereto in the Indenture.

                               W I T N E S S E T H

         WHEREAS, the Company, the Partnership, and the Trustee have heretofore
executed and delivered to the Trustee the Indenture to provide for the issuance
from time to time of the Company's and the Partnership's Securities to be issued
in one or more series;

         WHEREAS, the Company, the Partnership, and the Trustee entered into
that certain First Supplemental Indenture, dated as of November 1, 1994 (the
"First Supplemental Indenture"), providing for the issuance of ten (10) separate
series of Securities having the designation, form, terms, and provisions set
forth in such First Supplemental Indenture;

         WHEREAS, contemporaneously with the issuance of the Securities, the
Partnership entered into (a) that certain Debt Service Reserve Letter of Credit
and Reimbursement Agreement among the Partnership, the banks named therein, and
Banque Nationale de Paris, as agent, dated as of November 1, 1994, (b) that
certain Letter of Credit and Reimbursement Agreement among the Partnership, the
banks named therein, and Credit Suisse, as agent, dated as of November 1, 1994,
and (c) that certain Revolving Credit Agreement among the Partnership, the banks
named therein, and Credit Suisse, as agent, dated as of November 1, 1994 (all of
the aforementioned credit facilities collectively, the "Original Credit
Facilities");

         WHEREAS, the Company and the Partnership desire (a) to replace the
Original Credit Facilities with credit facilities on substantially the same
terms as those of the Original Credit Facilities (such replacement facilities,
the "New Credit Facilities") and to make certain conforming and other changes to
the Indenture and to certain of the Financing Documents, (b) to clarify in the
Indenture and in certain of the Financing Documents the Company's and the
Partnership's right to replace the New Credit Facilities from time to time, and
(c) in connection with such replacement of the Original Credit Facilities and
future replacements thereof, to

<PAGE>

provide for the repayment of amounts outstanding under such facilities and the
payment of transaction expenses related to any such replacement on dates other
than an Interest Payment Date;

         WHEREAS, Section 11.1 of the Indenture provides that the Partnership
and the Company, in each case when authorized by a Board Resolution, and the
Trustee may at any time, without the consent of the holders of any Securities,
enter into a supplemental indenture for the purpose of amending the Indenture in
connection with any of the purposes permitted under such section;

         WHEREAS, all acts and things necessary to constitute these presents a
valid and binding supplemental indenture according to its terms have been done
and performed and the execution of this Third Supplemental Indenture has in all
respects been duly authorized, and the Company and the Partnership, in the
exercise of the legal right and power vested in them, execute this Third
Supplemental Indenture; and

         WHEREAS, pursuant to Section 11.1(i) of the Indenture, the Trustee is
authorized to execute and deliver this Third Supplemental Indenture;

         NOW, THEREFORE, in consideration of the mutual agreements contained
herein and for other good and valuable consideration, the receipt and
sufficiency of which are hereby acknowledged, the parties to this Third
Supplemental Indenture hereby agree as follows:

                                   ARTICLE I.

                                   AMENDMENTS

         SECTION 1.1 AMENDMENTS

         1.       The first paragraph of the Indenture is hereby amended by
deleting the words "NATIONSBANK OF FLORIDA, N.A. as Trustee (the "Trustee"), its
corporate trust office and mailing address being at One Financial Plaza, 13th
Floor, Fort Lauderdale, Florida 33394" and inserting in lieu thereof the
following:

         "THE BANK OF NEW YORK, as Trustee (the "Trustee"), its corporate trust
         office and mailing address being at 10161 Centurion Parkway,
         Jacksonville, Florida 32256"

                                       2

<PAGE>

         2. Section 1.1 of the Indenture is hereby amended as follows:

                  a.       The definition of "Debt Service Reserve Letter of
Credit" is hereby deleted in its entirety and the following is inserted in lieu
thereof:

         ""Debt Service Reserve Letter of Credit" means one or more irrevocable,
         direct pay letters of credit issued by any financial institution with a
         rating of "A" or higher by S&P and "A2" or higher by Moody's in favor
         of the Disbursement Agent, secured by the Collateral ratably with the
         other senior secured indebtedness of the Partnership."

                  b.       The definition of "Debt Service Reserve Letter of
Credit Provider" is hereby deleted in its entirety and the following is inserted
in lieu thereof:

         ""Debt Service Reserve Letter of Credit Provider" means the banks and
         financial institutions providing or otherwise participating in any Debt
         Service Reserve Letter of Credit under or pursuant to any Debt Service
         Reserve LOC Reimbursement Agreement."

                  c.       The definition of "Debt Service Reserve LOC
Reimbursement Agreement" is hereby deleted in its entirety and the following is
inserted in lieu thereof:

         ""Debt Service Reserve LOC Reimbursement Agreement" means the Debt
         Service Reserve Letter of Credit and Reimbursement Agreement, dated as
         of October 10, 2003, among the Partnership, the Initial Bank and the
         Banks (each as defined therein) party thereto from time to time, and
         Credit Lyonnais New York Branch, as agent, and any replacement
         agreement under or pursuant to which any Debt Service Reserve Letter of
         Credit is provided, in each case as any such agreement may be amended,
         modified, or supplemented from time to time."

                  d.       The definition of "Disbursement Agreement" is hereby
amended by inserting immediately prior to the period appearing at the end
thereof the following:

         ", as the same may be amended, modified or supplemented from time to
time".

                  e.       The definition of "LOC Provider" is hereby deleted in
its entirety and the following is inserted in lieu thereof:

         ""LOC Provider" means the banks and financial institutions providing or
         otherwise participating in any of the Letters of Credit under or
         pursuant to any Reimbursement Agreement."

                                       3

<PAGE>

                  f.       The definition of "Reimbursement Agreement" is hereby
deleted in its entirety and the following is inserted in lieu thereof:

         ""Reimbursement Agreement" means the Letter of Credit and Reimbursement
         Agreement, dated as of October 10, 2003, among the Partnership, the
         Initial Bank and the Banks (each as defined therein) party thereto from
         time to time, and Credit Lyonnais New York Branch, as agent, and any
         replacement agreement under or pursuant to which any of the Letters of
         Credit is provided, in each case as any such agreement may be amended,
         modified, or supplemented from time to time."

                  g.       The definition of "Security Agreement" is hereby
amended by inserting immediately prior to the period appearing at the end
thereof the following:

         ", as the same may be amended, modified or supplemented from time to
time".

                  h.       The definition of "Working Capital Facility" is
hereby deleted in its entirety and the following is inserted in lieu thereof:

         ""Working Capital Facility" means the Revolving Credit Agreement, dated
         as of October 10, 2003, among the Partnership, the Banks (as defined
         therein) party thereto from time to time, and Credit Lyonnais New York
         Branch, as agent, and any replacement agreement under or pursuant to
         which funds for the working capital needs of the Project are provided,
         in each case as any such agreement may be amended, modified, or
         supplemented from time to time."

                  i.       The definition of "Working Capital Provider" is
hereby deleted in its entirety and the following is inserted in lieu thereof:

         ""Working Capital Provider" means any Person providing funds for the
         working capital needs of the Partnership pursuant to a Working Capital
         Facility."

                                   ARTICLE II.

                                  MISCELLANEOUS

         SECTION 2.1 EFFECT OF THE THIRD SUPPLEMENTAL INDENTURE

         This Third Supplemental Indenture is executed and shall be construed as
an indenture supplemental to the Indenture and, as provided in the Indenture,
this Third Supplemental Indenture forms a part thereof. On and after the
effective date of this Third Supplemental Indenture, each reference in the
Indenture to "this Indenture," "hereunder" or "herein" shall mean and be a
reference to the Indenture as supplemented by this Third Supplemental Indenture.

                                       4

<PAGE>

Except as specifically amended above, the Indenture shall remain in full force
and effect and is hereby ratified and confirmed.

         SECTION 2.2 CERTIFICATE AND OPINION AS TO CONDITIONS PRECEDENT

                  a.       Set forth as Exhibit A hereto is a copy of the
Officer's Certificate delivered to the Trustee in connection with this Third
Supplemental Indenture.

                  b.       Set forth as Exhibit B hereto is a copy of the
Opinion of Counsel delivered to the Trustee in connection with this Third
Supplemental Indenture.

         SECTION 2.3 CONCERNING THE TRUSTEE

         The Trustee shall not be responsible in any manner for or with respect
to the validity or sufficiency of this Third Supplemental Indenture or the due
execution hereof by the Company or the Partnership, or for or with respect to
the recitals and statements contained herein, all of which recitals and
statements are made solely by the Company and the Partnership.

         SECTION 2.4 SEVERABILITY

         Any term or provision of this Third Supplemental Indenture that is
invalid, illegal, prohibited or unenforceable in any jurisdiction shall, as to
such jurisdiction, be ineffective to the extent of such invalidity, illegality,
prohibition or unenforceability without invalidating the remaining terms and
provisions hereof, and any such invalidity, illegality, prohibition or
unenforceability in any jurisdiction shall not invalidate or render prohibited
or unenforceable such term or provision in any other jurisdiction.

         SECTION 2.5 COUNTERPARTS

         This Third Supplemental Indenture may be executed in any number of
counterparts, each of which when so executed shall be deemed to be an original;
but all such counterparts shall together constitute but one and the same
instrument. Delivery by facsimile of a signed copy of this Third Supplemental
Indenture shall have the same effect as delivery of a manually executed
counterpart.

         SECTION 2.6 EFFECT OF HEADINGS

         The article and section headings herein are for convenience only and
shall not affect the construction hereof.

                                       5

<PAGE>

         SECTION 2.7 GOVERNING LAW

         THIS THIRD SUPPLEMENTAL INDENTURE SHALL BE GOVERNED BY AND CONSTRUED IN
ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK, AS APPLIED TO CONTRACTS MADE
AND PERFORMED ENTIRELY WITHIN THE STATE OF NEW YORK, WITHOUT REGARD TO
PRINCIPLES OF CONFLICT OF LAWS, OTHER THAN GENERAL OBLIGATIONS LAW SECTION
5-1401.

                            [signature page follows]

                                       6

<PAGE>

         IN WITNESS WHEREOF, the parties have caused this Third Supplemental
Indenture to be duly executed by their respective duly authorized officers as of
the date and year first above written.

                                 INDIANTOWN COGENERATION, L.P.

                                 By:    /s/ F. JOSEPH FEYDER
                                        -----------------------------------
                                 Name:  F. Joseph Feyder

                                 Title: Vice President

                                 INDIANTOWN COGENERATION FUNDING CORPORATION

                                 By:    /s/ JOHN C. BARPOULIS
                                        -----------------------------------
                                 Name:  John C. Barpoulis

                                 Title: Vice President and Treasurer

                                 THE BANK OF NEW YORK, AS TRUSTEE

                                 By:    /s/ SHERYL LEAR
                                        -----------------------------------
                                 Name:  Sheryl Lear

                                 Title: Agent

<PAGE>

                                    Exhibit A

                              Officer's Certificate

<PAGE>

                                    Exhibit B

                               Opinion of Counselexv10w22

 

Exhibit 10.22

CHANGE IN TERMS AGREEMENT

	 	 	 	 	 	 	 
	

	Borrower:	 	
PRA Funding, LLC
	 	Lender:
	 	RBC CENTURA BANK
	 	 	
120 Corporate Boulevard, Suite 100
	 	 	 	Twin Oaks
	 	 	
Norfolk, VA 23502
	 	 	 	Lending Service Center
	 	 	 	 	 	 	6700 Lake Wright Dr, Ste #400
	 	 	 	 	 	 	Norfolk, VA 23502
	

	 	 	 	 	 
	Principal Amount: $2,500,000.00	 	
Initial Rate: 4.115%
	 	Date of Agreement: September 5, 2003

DESCRIPTION OF EXISTING INDEBTEDNESS.

Customer No. 2671883 Note No. 101 Draw No. 001

This change in Terms Agreement modifies Note dated June 28, 2002, between PRA
Funding, LLC (Borrower) and RBC Centura Bank (Lender).

DESCRIPTION OF CHANGE IN TERMS.

Extend maturity date to September 28 2004.

PROMISE TO PAY. PRA Funding, LLC (“BORROWER”) promises to pay to RBC CENTURA
BANK (“Lender”), or order, in lawful money of the United States of America, the
principal amount of Two Million Five Hundred Thousand & 00/100 Dollars
($2,500,000.00) or so much as may be outstanding, together with interest on the
unpaid outstanding principal balance of each advance. Interest shall be
calculated from the date of each advance until repayment of each advance. The
interest rate will not increase above 25.000%.

PAYMENT. Borrower will pay this loan in one payment of all outstanding
principal plus all accrued unpaid interest on September 28, 2004. In addition,
Borrower will pay regular monthly payments of all accrued unpaid interest due
as of each payment date, beginning October 1, 2003, with all subsequent
interest payments to be due on the same day of each month after that. Unless
otherwise agreed or required by applicable law, payments will be applied first
to any accrued unpaid interest; then to principal; then to any unpaid collection
costs; and then to any late charges. Interest on this Agreement is computed on
a 365/360 simple interest basis; that is, by applying the ratio of the annual
interest rate over a year of 360 days, multiplied by the outstanding principal
balance, multiplied by the actual number of days the principal balance is
outstanding. Borrower will pay Lender at Lender’s address shown above or at
such other place as Lender may designate in writing.

VARIABLE INTEREST RATE. The interest rate on this Agreement is subject to
change from time to time based on changes in an independent index which is the
LIBOR Base Rate (the “Index”). The Index is not necessarily the lowest rate
charged by Lender on its loans. If the Index becomes unavailable during the
term of this loan, Lender may designate a substitute index after notice to
Borrower. Lender will tell Borrower the current Index rate upon Borrower’s
request. The interest rate change will not occur more often than each. The
“LIBOR Base Rate: is the London Interbank Offer Rate for U.S. dollars for a
term of one month which appears on the Telerato Page 3750, Bloomberg
Professional screen BBAM (or any generally recognized successor method or means
of publication) as of 11:00 a.m., London time, two (2) London business days
prior to the day on which the rate will become effective. The rate will
initially become effective on the date of the Note as shown on the face of the
Note. Thereafter, the rate will change and a new rate will become effective on
each succeeding banking day. If for any reason, the London Interbank Offer Rate
is not available, the “LIBOR Base Rate” shall mean the rate per annum which
banks charge each other in a market comparable to England’s Eurodollar market
on short-term money in U.S. dollars for an amount substantially equivalent to
the principal amount due under this Note, as determined at 11:00 A.M., London
time, two (2) London Business days prior to the day on which the rate will
become effective, as determined in Bank’s sole discretion. Bank determination
of each interest rate shall be conclusive, absent manifest error. Borrower
understands that Lender may make loans based on other rates as well. The index
currently is 1.115% per annum. The interest rate to be applied to the unpaid
principal balance of the Note will be a rate of 3.000 percentage points over
the Index, resulting in an initial rate of 4.115% per annum. Notwithstanding
the foregoing, the variable interest rate or rates provided for in the Note
will be subject to the following maximum rate. NOTICE: Under no circumstances
will the interest rate on the Note be more than (except for any higher default
rate shown below the lesser of 25.000% per annum or the maximum rate allowable
by applicable law.

PREPAYMENT. Borrower may pay without penalty all or a portion of the amount
owed earlier than it is due. Early payments will not, unless agreed to by
Lender in writing, relieve Borrower of Borrower’s obligation to continue to
make payments of accrued unpaid interest. Rather, early payments will reduce
the principal balance due. Borrower agrees not to send Lender payments marked
“paid in full”, “without recourse”, or similar language. If Borrower sends such a
payment, Lender may accept it without losing any of Lender’s rights under this
Agreement, and Borrower will remain obligated to pay any further amount owed to
Lender. All written communications concerning disputed amounts, including any
check or other payment instruments that indicates that the payment constitutes
“payment in full” of the amount owed or that is tendered with other conditions
or limitations or as full satisfaction of a disputed amount must be mailed or
delivered to: RBC CENTURA BANK, Twin Oaks, Lending Service Center, 5700 Lake
Wright Dr, Ste #400, Norfolk, VA 23502.

LATE CHARGE. If a payment is 15 days or more late, Borrower will be charged
5.000% of the unpaid portion of the regularly scheduled payment.

INTEREST AFTER DEFAULT. Upon default, including failure to pay upon final
maturity, Lender at its option, may, if permitted under applicable law,
increase the variable interest rate on this Agreement to 18.000% per annum. The
interest rate will not exceed the maximum rate permitted by applicable law.

DEFAULT. Each of the following shall constitute an Event or Default under this
Agreement:

		
	 	Payment Default. Borrower fails to make any payment when due under this
Agreement:
	 
	 	Other Defaults. Borrower fails to comply with or to perform any other term,
obligation, covenant or condition contained in this Agreement or in any of
the Related Documents or to comply with or to perform any term, obligation,
covenant or condition contained in any other agreement between Lender and
Borrower.
	 
	 	Default in Favor of Third Parties. Borrower defaults under any loan,
extension of credit, security agreement, purchase or sales agreement, or any
other agreement, in favor of any other creditor or person that may materially
affect any of Borrower’s property or Borrower’s ability to perform
Borrower’s obligations under this Agreement or any of the Related Documents.
	 
	 	False Statements. Any warranty, representation or statement made or
furnished to Lender by Borrower or on Borrower’s behalf under this Agreement
or the Related Documents is false or misleading in any material respect,
either now or at the time made or furnished or becomes false or misleading
at any time thereafter.
	 
	 	Death or Insolvency. The death of Borrower or the dissolution or termination
of Borrower’s existence as a going business, or a trustee or receiver is
appointed for Borrower or for all or a substantial portion of the assets of
Borrower, or Borrower makes a general assignment for the benefit of
Borrower’s creditors, or Borrower files for bankruptcy, or an involuntary
bankruptcy petition is filed against Borrower and such involuntary petition
remains undismissed for sixty (60) days.
	 
	 	Creditor of Forfeiture Proceedings. Commencement of foreclosure or
forfeiture proceedings, whether by judicial proceeding,
self-help, repossession or any other method, by any creditor of Borrower or
by any governmental agency against any collateral securing the Indebtedness.
This includes a garnishment of any of Borrower’s accounts, including deposit
accounts, with Lender. However, this Event of Default shall not apply if
there is a good faith dispute by Borrower as to the validity or
reasonableness of the claim which is the basis of the creditor or forfeiture
proceeding and if Borrower gives Lender written notice of the creditor or
forfeiture proceeding and deposits with Lender monies or a surety bond for
the creditor or forfeiture proceeding, in an amount determined by
Lender, in its sole discretion, as being an adequate reserve or bond for the
dispute.
	 
	 	Events Affecting Guarantor. Any of the preceding events occurs with respect
to any Guarantor of any of the Indebtedness or any Guarantor dies or becomes
incompetent, or revokes or disputes the validity of, or liability, under any
Guaranty of the Indebtedness evidenced by this Note. In the event of a
death, Lender, at its option, may, but shall not be required to, permit the
Guarantor’s estate to assume unconditionally the obligations arising under
the guaranty in a manner satisfactory to Lender, and, in doing so, cure any
Event of Default.
	 
	 	Adverse Change. A material adverse change occurs in Borrower’s financial
condition, or Lender believes the prospect of payment or performance of the
Indebtedness is impaired.
	 
	 	Insecurity. Lender in good faith believes itself insecure.
	 
	 	Cure Provisions. If any default, other than a default in payments is curable
and if Borrower has not been given a notice of a breach of the same
provision of this Agreement within the preceding twelve (12) months, it may
be cured (and no event of default will have occurred) if Borrower, after
receiving written notice from Lender demanding cure of such default: (1)
cures the default within fifteen (15) days; or (2) if the cure requires more
than fifteen (15) days, immediately initiates stops which Lender deems in
Lender’s sole discretion to be sufficient to cure the default and thereafter
continues and completes all reasonable and necessary steps sufficient to
produce compliance as soon as reasonably practical.

LENDER’S RIGHTS. Upon default, Lender may declare the entire unpaid principal
balance on this Agreement and all accrued unpaid interest, together with all other
applicable fees, costs and charges, if any, immediately due and payable, and
then Borrower will pay that amount.

 

CHANGE IN TERMS AGREEMENT

	(Continued)	 	
Page 2

ATTORNEYS’ FEES; EXPENSES. Subject to any limits under applicable law, upon
default, Borrower agrees to pay Lender’s attorneys’ fees and all of Lender’s
other collection expenses, whether or not there is a lawsuit, including without
limitation legal expenses for bankruptcy proceedings.

GOVERNING LAW. This Agreement will be governed by, construed and enforced in
accordance with federal law and the laws of the Commonwealth of Virginia. This
Agreement has been accepted by Lender in the Commonwealth of Virginia.

CHOICE OF VENUE. If there is a lawsuit, Borrower agrees upon Lender’s request to
submit to the jurisdiction of the applicable courts for the City of Norfolk,
Commonwealth of Virginia.

DISHONORED ITEM FEE. Borrower will pay a fee to Lender of $25.00. If Borrower
makes a payment of Borrower’s loan and the check or preauthorized charge with
which Borrower pays is later dishonored.

RIGHT OF SETOFF. To the extent permitted by applicable law, Lender reserves a
right of setoff in all Borrower’s accounts with Lender (whether checking,
savings, or some other account). This includes all accounts Borrower holds
jointly with someone else and all accounts Borrower may open in the future.
However, this does not include any IRA or Keogh accounts, or any trust accounts
for which setoff would be prohibited by law. Borrower authorizes Lender, to the
extent permitted by applicable law, to charge or setoff all sums owing on the
debt against any and all such accounts, and, at Lender’s option, to
administratively freeze all such accounts to allow Lender to protect Lender’s
charge and setoff rights provided in this paragraph.

COLLATERAL. Collateral securing other loans with Lender may also secure this
loan. To the extent collateral previously has been given to Lender by
any person
which may secure this Indebtedness, whether directly or indirectly, it is
specifically agreed that, to the extent prohibited by law, all such collateral
consisting of household goods will not secure this Indebtedness. In addition, if
any collateral requires the giving of a right of rescission under Truth in
Lending for this Indebtedness, such collateral also will not secure this
Indebtedness unless and until all required notices of that right have been
given.

LINE OF CREDIT. This Agreement evidences a revolving line of credit. Advances
under this Agreement, as well as directions for payment from Borrower’s
accounts, may be requested orally or in writing by Borrower or by an authorized
person. Lender may, but need not, require that all oral requests be confirmed in
writing. Borrower agrees to be liable for all sums either: (A) advanced in
accordance with the instructions of an authorized person or (B) credited to any
of Borrower’s accounts with Lender. The unpaid principal balance owing on this
Agreement at any time may be evidenced by endorsements on this
Agreement  or by Lender’s internal records, including daily
computer print-outs. Lender will have no obligation to advance funds
under this Agreement if: (A)
Borrower or any guarantor is in default under the terms of this Agreement or any
agreement that Borrower or any guarantor has with Lender, including any
agreement made in connection with the signing of the Agreement; (B) Borrower or
any guarantor ceases doing business or is insolvent; (C) any guarantor seeks,
claims or otherwise attempts to limit, modify or revoke such guarantor’s
guarantee of this Agreement or any other loan with Lender; (D) Borrower has
applied funds provided pursuant to this Agreement for purposes other than those
authorized by Lender; or (E) Lender in good faith believes itself insecure.

CONTINUING VALIDITY. Except as expressly changed by this Agreement, the terms of
the original obligation or obligations, including all agreements evidenced or
securing the obligation(s), remain unchanged and in full force and effect.
Consent by Lender to this Agreement does not waive Lender’s right to strict
performance of the obligation(s) as changed, nor obligate Lender to
make any future change in terms. Nothing in this Agreement will
constitute a satisfaction of the obligation(s).  It is the intention of Lender to retain as
liable parties all makers and endorsers of the original obligation(s), including
accommodation parties, unless a party is expressly released by Lender in writing.
Any maker or endorser, including accommodation makers, will not be released by
virtue of this Agreement. If any person who signed the original obligation does
not sign this Agreement below, then all persons signing below acknowledge that
this Agreement is given conditionally, based on the representation to Lender
that the non-signing party consents to the changes and provisions of this
Agreement or otherwise will not be released by it. This waiver applies not only
to any initial extension, modification or release, but also to all such
subsequent actions.

DESCRIPTION OF PRINCIPAL AMOUNT. The Principal
Amount stated above refers to the
principal amount of this loan, and does not reflect the outstanding principal
balance as of the date of this Change in Terms of Agreement.

SUCCESSORS AND ASSIGNS. Subject to any limitations stated in this Agreement on
transfer of Borrower’s interest, this Agreement shall be binding upon and inure
to the benefit of the parties, their heirs, personal representatives, successors
and assigns. If ownership of the Collateral becomes vested in a person other
than Borrower, Lender, without notice to Borrower, may deal with Borrower’s
successors with reference to this Agreement and the Indebtedness by way of
forbearance or extension without releasing Borrower from the obligations of this
Agreement or liability under the Indebtedness.

MISCELLANEOUS PROVISIONS. Lender may delay or forgo enforcing any of its rights
or remedies under this Agreement without losing them. Borrower and any other
person who signs, guarantees or endorses this Agreement, to the extent allowed
by law, waive presentment, demand for payment, and notice of dishonor. Upon any
change in the terms of this Agreement, and unless otherwise expressly stated in
writing, no party who signs this Agreement, whether as maker, guarantor,
accommodation maker or endorser, shall be released from liability. All such
parties agree that Lender may renew or extend (repeatedly and for any length of
time) this loan or release any party or guarantor or collateral; or Impair, fall
to realize upon or perfect Lender’s security interest in the collateral; and
take any other action deemed necessary by Lender without the consent of or
notice to anyone. All such parties also agree that Lender may modify this loan
without the consent of or notice to anyone other than the party with whom the
modification is made.

CONTINUED ON NEXT PAGE

 

CHANGE IN TERMS AGREEMENT

	 	 	 	 	 
	 	 	
(Continued)
	 	Page 3

PRIOR TO SINGING THIS AGREEMENT, BORROWER READ AND UNDERSTOOD ALL THE
PROVISIONS OF THIS AGREEMENT, INCLUDING THE VARIABLE INTEREST RATE PROVISIONS.
BORROWER AGREES TO THE TERMS OF THE AGREEMENT.

THIS AGREEMENT IS GIVEN UNDER SEAL AND IT IS INTENDED THAT THIS AGREEMENT IS
AND SHALL CONSTITUTE AND HAVE THE EFFECT OF A SEALED INSTRUMENT ACCORDING TO
LAW.

CIT SIGNER:

PRA FUNDING, LLC

PORTFOLIO RECOVERY ASSOCIATES, LLC, of PRA Funding, LLC

	 	 	 
	By:	 	
/s/ Kevin P. Stevenson

Kevin P. Stevenson, Manager/Sr Vice President of
Portfolio Recovery Associates, LLC	(Seal)

PORTFOLIO RECOVERY ASSOCIATES, LLC

	 	 	 
	By:	 	
/s/ Kevin P. Stevenson

Kevin P. Stevenson, Manager/Sr Vice President of
Portfolio Recovery Associates, LLC	(Seal)

PRA HOLDING I, LLC

PORTFOLIO RECOVERY ASSOCIATES, LLC, Member of PRA Holding 1, LLC

	 	 	 
	By:	 	
/s/ Kevin P. Stevenson

Kevin P. Stevenson, Manager/Sr Vice President of
Portfolio Recovery Associates, LLC	(Seal)

PRA RECEIVABLES MANAGEMENT, LLC

PORTFOLIO RECOVERY ASSOCIATES, LLC, Member of PRA Receivables Management, LLC

	 	 	 
	By:	 	
/s/ Kevin P. Stevenson

Kevin P. Stevenson, Manager/Sr Vice President of
Portfolio Recovery Associates, LLC	(Seal)

PORTFOLIO RECOVERY ASSOCIATES, INC.

	 	 	 
	By:	 	
/s/ Kevin P. Stevenson

Kevin P. Stevenson,
Senior/Sr Vice President of
Portfolio Recovery Associates, LLC	(Seal)

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