Document:

EXHIBIT 10.50

    
      
        
          
             

            
              Exhibit
                10.50

              

              COLDWELL
                BANKER ENCHANTMENT REALTY

              501
                SILVER HEIGHTS BLVD.

              SILVER
                CITY, NM 88061

              505
                538-2931  800 456-3132  FAX 505
                388-2606

              

              REALTORS
                ASSOCIATION OF NEW MEXICO

              COMMERCIAL
                ASSOCIATION OF REALTORS NEW MEXICO

              PURCHASE
                AND SALE AGREEMENT – COMMERCIAL

               

               

            

            
              
                	
                        1.

                      	
                        TERMS
                          SUMMARY

                      
	 
	
                        Date
                          of Agreement, i.e., date of full execution (for reference
                          purposes and for
                          calculation of deadlines)   September 5,
                          2007.

                      
	 
	
                        This
                          Agreement includes the property Disclosure Statement
                          and: 

                      

              

               

            

            
              
                	 	 	
                        Addendum

                      
	 	 	
                        Financing
                          Addendum

                      
	
                        X

                      	 	
                        Other
                          (describe):  all equipment as seen on September 3,
                          2007

                      

              

               

            

            
              
                	
                        Offer
                          Expiration Date:

                      
	 
	
                        Buyer:

                      	
                        Don
                          Juan Restaurant

                      
	 	 
	
                        Seller:

                      	
                        Bowlin
                          Travel Centers, Inc.

                      

              

               

              
                
                  
                    	
                            Property:

                          	 
	 	
                            Address:
                              

                          	813
                            S. Main Street, Lordsburg, NM  88045
	 	
                            Legal
                              Description:  

                          	Part
                            of SEQSEQ, Sec 32, tzz, R1Y

                  

                   

                

              

            

            
              
                	
                        Purchase
                          Price:

                      	 	
                        $
                          95,000

                      	 
	
                        Earnest
                          Money:

                      	 	
                        $
                          500 (upon acceptance)

                      	 
	 	 	 	 

              

              
                 

                
                  	Title
                          Company: 	 	
                          Hidalgo
                            County Abstract        

                        
	 	  	 	
                          115
                            Shakespeare, Lordsburg, NM  88045        

                        
	 	Phone: 	 	
                          505-542-9181 

                        	 	Facsimile: 	 	 	Email: 	 	 

                

                 

              

            

            
              
                
                  	
                          
                            Inspection
                              Period:

                          

                        	
                          No

                        

                

              

            

             

            
              
                	Survey
                        Type:	 	 	 	
                        ALTA

                      	 	 	 	
                        Boundary

                      	 	 	 	
                        Other
                          (describe):

                      	 	 

              

              
                
                  
                    
                      	 	
                              To
                                be obtained and paid for by:

                            	 	 	 	Buyer	 	 	 	Seller

                    

                     

                  

                

                
                  	
                          Environmental
                            Site Assessment:

                        	 	 	 	
                          
                            Phase
                              I

                          

                        	 	 	 	
                          Phase
                            II

                        	 	 	 	
                          Other
                            (describe):

                        	 

                

                
                  	 	
                          To
                            be obtained and paid for by:

                        	 	 	 	Buyer	 	 	 	Seller

                

              

            

            
               

              
                
                  	
                          
                            Closing
                              Date:

                          

                        	 	
                          
                            October
                              5, 2007

                          

                        	 

                

                
                  
                    
                      
                      

                    

                    
                      
                      

                      
                        

                      

                    

                    
                      
                      

                    

                  

                   

                  
                    SELLER

                  

                  
                     

                    
                      	Bowlin
                              Travel Centers, Inc.  
	By:	/s/
                              Kit Johnson, Director of Operations 
	Kit
                              Johnson  
	Name
                              (Print)  

                    

                    
                      
                        	150
                                Louisiana Blvd, NE	
                                Albuquerque,
                                  NM  87108

                              	 
	Address	 	 
	(505)
                                541-9101	
                                (505)
                                  523-1013

                              	
                                kitj@bowlintc.com

                              
	Phone	
                                Fax

                              	
                                Email
                                  Address

                              

                      

                    

                     

                    

                      BUYER

                    

                  

                  
                    
                      	By:	/s/
                              Juan Tellez
	Juan
                              Tellez
	Name
                              (Print)  

                    

                    
                      
                        	PO
                                Box 650	
                                
                                  Bayard,
                                    NM  88023

                                

                              	 
	Address	 	 
	(505)
                                313-7759	
                                 

                              	
                                 

                              
	Phone	
                                Fax

                              	
                                Email
                                  Address

                              

                      

                    

                     

                  

                  
                     

                  

                   

                

              

            

            
              
                
                

              

              
                2EXHIBIT
10.1

FOURTH AMENDMENT TO AMENDED AND
RESTATED

REVOLVING
CREDIT LOAN AGREEMENT

GREENWOOD FINANCIAL, INC.,

A DELAWARE CORPORATION,

AND CERTAIN AFFILIATES

Borrowers

ORLEANS HOMEBUILDERS, INC.,

A DELAWARE CORPORATION

Guarantor

WACHOVIA BANK, NATIONAL ASSOCIATION

Administrative
Agent

WACHOVIA CAPITAL MARKETS, LLC

Lead
Arranger

BANK OF AMERICA, N.A.

Syndication Agent

SOVEREIGN BANK

Documentation Agent

MANUFACTURERS AND TRADERS TRUST
COMPANY

Documentation Agent

NATIONAL CITY BANK

Documentation Agent

WACHOVIA BANK, NATIONAL
ASSOCIATION

FIRSTRUST BANK

GUARANTY BANK

CITIZENS BANK OF PENNSYLVANIA

COMMERCE BANK, N.A.

SUNTRUST BANK

REGIONS BANK

FRANKLIN BANK, SSB

COMERICA BANK

COMPASS BANK, an Alabama Banking
Corporation

JPMORGAN CHASE BANK, N.A.

LASALLE BANK NATIONAL ASSOCIATION

DEUTSCHE BANK TRUST COMPANY
AMERICAS

Lenders

Executed:
as of September 6, 2007

FOURTH
AMENDMENT TO AMENDED AND RESTATED

REVOLVING CREDIT LOAN AGREEMENT

This Fourth Amendment to Amended and Restated
Revolving Credit Loan Agreement (“this Amendment”), executed as of September 6,
2007, but effective as of the Effective Date, by and among GREENWOOD FINANCIAL,
INC., a Delaware corporation (“Master Borrower”), each of the other entities
identified on Schedule 1.1A that is attached hereto as “Borrowers,” ORLEANS
HOMEBUILDERS, INC., as Delaware corporation as guarantor (“Guarantor”), the
Lenders who are a party hereto, and WACHOVIA BANK, NATIONAL ASSOCIATION, as
Agent for the Lenders (“Agent”).

BACKGROUND

A.            Master
Borrower, Agent, the Lenders, Guarantor and the Borrowers are parties to an
Amended and Restated Revolving Credit Loan Agreement dated as of January 24,
2006, and amended by a First Amendment to Amended and Restated Revolving Credit
Loan Agreement dated as of November 1, 2006, a Second Amendment to Amended and
Restated Revolving Credit Loan Agreement executed as of February 7, 2007, and a
Third Amendment to Amended and Restated Revolving Credit Loan Agreement
executed May 8, 2007 (as so amended, the “Agreement”).  All capitalized terms used but not
specifically defined herein have the meanings defined in the Agreement.

B.            Pursuant
to Section 2.13 of the Agreement, Master Borrower has requested that the
Maturity Date be postponed.

C.            The
parties hereto desire to modify and amend the Agreement in the manner set forth
in this Amendment.

D.            OHI
Financing, Inc. and the Bank of New York Trust Company, National Association, a
national banking association (as successor to JPMorgan Chase Bank, National
Association, a national banking association), as trustee (the “Trustee”)
entered into Supplemental Indenture No. 1 (the “Supplemental
Indenture”), dated as of August 13, 2007, to the Junior Subordinated
Indenture, dated as of November 23, 2005 among OHI Financing, Inc. and the
Trustee (the “Indenture”), and by letter dated
August 10, 2007 from the Agent to the Guarantor, Agent confirmed that the debt
securities issued pursuant to the Indenture and the related transactions
described in Supplemental Indenture continue to constitute Permitted
Subordinated Debt pursuant to the terms of the Agreement.

NOW THEREFORE, for good and
valuable consideration, the receipt and sufficiency of which are acknowledged,
and intending to be legally bound hereby, the parties hereto agree as follows:

1.             Effect of this
Amendment.  This Amendment shall
become effective (but as of the Effective Date) only upon the (i) execution of
this Amendment by the Borrowers, Guarantor, Agent and Requisite Lenders and
(ii) the Supplemental Indenture becoming effective in accordance with its
terms.

2.             Definitions.

2.1           The following terms defined in this Section
2 of this Amendment shall replace, as of the Effective Date, the definitions of
such terms that were contained in Section 1.1 of the Agreement:

“Adjusted EBITDA” means, with respect to a Relevant
Accounting Period, (i) net income minus (ii) interest income plus
(iii) non-cash charges and expenses (including, but not limited to, impairment
charges, asset write-offs, abandoned project charges, deposit forfeitures and
write offs of other pre-acquisition costs, and other similar amounts, and
non-cash compensation expense recorded from grants of stock appreciation
rights, stock options, restricted stock or similar rights) plus (iv)
extraordinary losses plus (v) net income from Joint Ventures up to the
amount of cash actually distributed to Guarantor plus (vi) any loss from
(a) the early extinguishment of Debt or (b) Swap Contracts or other hedging
obligations or other derivative instruments (including the application of
Statement of Financial Accounting Standards No. 133) minus (vii) any net
income from (a) the early extinguishment of Debt or (b) Swap Contracts
(including the application of Statement of Financial Accounting Standards No.
133) minus (viii) non-cash credits minus (ix) extraordinary gains
plus (x) state and federal income taxes, (xi) depreciation and
amortization, (xii) interest expensed in the cost of goods sold and (xiii)
interest expensed from operations.

“Applicable Spread” means
the rate per annum determined from time to time in accordance with the
following:

	
  (i)            If
  the relevant Leverage Ratio is:

  	
   

  	
  the Applicable
  Spread shall be:

  
	
  Not greater than
  1.75:1

  	
   

  	
  2.275% (227.5
  “basis points”)

  
	
  Greater than
  1.75:1 and not greater than 2.00:1

  	
   

  	
  2.500% (250.0
  “basis points”)

  
	
  Greater than
  2.00:1 and not greater than 2.50:1

  	
   

  	
  2.625% (262.5
  “basis points”)

  
	
  Greater than
  2.50:1

  	
   

  	
  2.750% (275.0
  “basis points”)

  

 

(ii)           The
Applicable Spread shall be adjusted quarterly as provided in Section 2.4.2.

“Consolidated Tangible Net Worth” means, as calculated
for any date after June 30, 2007, (i) Guarantor’s GAAP net worth (excluding the
effects of any other comprehensive income (loss) attributable to any Swap
Contract) minus (ii) goodwill, patents, trademarks, tradenames,
organization expense, unamortized debt discount and expense and other
intangibles as shown in the Financial Statements as of the last day of the Last
Reported Fiscal Quarter plus (iii) the amount of any unfunded liability
attributable to Guarantor’s Supplemental Executive Retirement Plan (but only to
the extent of any intangible asset attributable to such plan) and as calculated
for any date on or prior to June 30, 2007 “Consolidated Tangible Net Worth” has
the meaning set forth in the Agreement prior to this Amendment.

“Debt Service”
means, with respect to a Relevant Accounting Period, (i) interest paid (whether
expensed or capitalized) as reported on Guarantor’s Financial Statements plus
(ii) required principal payments on any Debt (excluding (a) with, respect
to any permitted purchase money mortgage debt, release prices paid upon the
conveyance of any Unit, and 

 2
 

(b) principal payments of Loans, Swing Line Loans
and Letter of Credit Advances) plus (iii) mandatory preferred stock
dividends minus (iv) interest income.

“Collateral
Release Date” means the date as of which Borrowers shall no longer
be required to provide any Collateral for the Indebtedness, which date shall be
determined by the unanimous consent of the Lenders, in writing.

“Facility Amount” means $585,000,000, which includes the $125,000,000 Letter of
Credit Sublimit and the $25,000,000 Swingline Limit and shall be subject to
increase in accordance with the provisions of Section 2.1.1.2.

“Leverage
Ratio” means, at any time, the ratio of Guarantor’s Consolidated Total
Indebtedness to Guarantor’s Consolidated Adjusted Tangible Net Worth; provided,
however, that only for purposes of determining Guarantor’s Leverage Ratio, the
amount of Guarantor’s Consolidated Total Indebtedness as of any date shall be
reduced by the amount of any restricted cash from the sale of settled Units due
from title companies on such date if and to the extent the Guarantor’s
Consolidated Total Indebtedness is reduced within four (4) Business Days after
such date by application of any such amounts of restricted cash due from title
companies.

“Maturity
Date” means December 20, 2009, subject to Section 2.13.

“Revolving
Sublimit” means $585,000,000, and shall be subject to increase in accordance
with the provisions of Section 2.1.1.2.

“Qualifying Agreement of Sale” means a valid,
bona-fide agreement of sale for a Unit with an unrelated third-party purchaser
who is not an Affiliate of Guarantor or of any Borrower, for fair market value,
subject to the following conditions and limitations:

(i)            provides
for a cash deposit of at least 5% of the purchase price, except that (A) the
cash deposit with respect to agreements of sale for Units in the Richmond,
Virginia, MSA may be $10,000 in lieu of 5% of the purchase price and (B) the
cash deposit with respect to agreements of sale for Units in the Phoenix,
Arizona MSA may be $10,000 in lieu of 5% of the purchase price; and

(ii)           contains
no contingency other than for a mortgage commitment which does not exceed 95%
(97% if the required mortgage is to be FHA-insured) of the gross sales price of
the Unit and which is not contingent upon the sale or lease of any other real
estate (and which contingency provision (unless the subject Unit is in the
Richmond, Virginia, MSA) specifically provides that if the financing commitment
does include such a sale or lease contingency, such contingency will not affect
the purchaser’s obligation to close under the agreement of sale).

2.2           The following definitions are hereby added
to Section 1.1 of the Agreement:

“Cash Equivalents” means (i) securities issued
or directly and fully guaranteed or insured by the United States or any agency
or instrumentality thereof (provided that the full faith and credit of the
United States is pledged in support thereof) having maturities of not more than

 3
 

one
(1) year from the date of acquisition, (ii) time deposits, certificates of deposit
or bankers’ acceptances of any commercial bank incorporated under the laws of
the United States or any state thereof, having capital and unimpared surplus in
excess of $500,000,000 (any such bank, an “Approved
Bank”), with such deposits, acceptances or certificates having
maturities of not more than one (1) year from the date of acquisition, (iii)
repurchase obligations with a term of not more than seven (7) days for
underlying securities of the types described in clauses (i) and (ii) above
entered into with any Approved Bank, (iv) commercial paper or finance company
paper issued by any Person incorporated under the laws of the United States or
any state thereof and rated at least A-1 or the equivalent thereof by Standard
& Poor’s Corporation or at least P-1 or the equivalent thereof by Moody’s
Investors Service, Inc., and in each case maturing not more than one year after
the date of acquisition, and (v) investments in money market funds or mutual
funds, at least eighty-five percent (85%) of whose assets consist of securities
and other obligations of the type described in clauses (i) through (iv)
above.  All such Cash Equivalents must be
denominated solely for payment in Dollars. 
Overnight deposits and demand deposits maintained in the ordinary course
of business shall be considered cash.

“Cash
Flow Coverage Ratio” means, as of the last day of any Fiscal Quarter, the ratio
of Guarantor’s CFFO to Debt Service for the Relevant Accounting Period then
ended.

“Cash Flow from Operations” and “CFFO” means, with respect
to each Relevant Accounting Period, (i) net cash provided from (or used
in) operating activities plus (ii) proceeds from the disposition of
Model Units that are subject to a sale-leaseback transaction, to the extent
that such proceeds are not included in net cash provided from operating
activities, plus (iii) interest expensed in the cost of goods sold plus
(iv) interest expensed from operations minus (v) interest
income.

“Debt Service Coverage Ratio” means, as of the last
day of any Fiscal Quarter, the ratio of Guarantor’s Adjusted EBITDA to Debt
Service for the Relevant Accounting Period then ended.

“Liquidity” means, at any time, the sum of all (i)
cash (including without limitation restricted cash from the sale of settled
Units due from title companies) and Cash Equivalents of Guarantor and all
Borrowers, each on a consolidated basis plus (ii) the amount by which the
then-current Borrowing Base Availability exceeds the then-outstanding principal
balance of the Line of Credit.

2.3           Clause (iv) of the definition of “Permitted
Debt” is hereby deleted and the following is inserted in its place, as of the
Effective Date:

(iv) purchase money mortgage loans borrowed in
connection with the acquisition of land, the outstanding principal amount of
which, in the aggregate at any time, is not greater than $50,000,000, except to
the extent that a higher aggregate principal amount of purchase money mortgage
loans has been approved by Requisite Lenders; provided, in any event, that
Agent shall have determined in good faith (which determination shall be subject
to the same limitations and qualifications contained in the last paragraph of
Section 7.1) that the covenants of Borrower, if any, contained in any purchase
money loan document are (when taken together as a whole) no more restrictive
than the covenants contained in Articles VI, VII and VIII hereof.

 4
 

2.4           The definition “Debt Service Ratio”
contained in Section 1.1 of the Agreement is hereby deleted as of the Effective
Date.

2.5           Upon the execution of this Amendment by
Borrowers, Guarantor, Agent and Requisite Lenders and the Supplemental
Indenture becoming effective in accordance with its terms, this Amendment shall
become effective as of June 30, 2007 (the “Effective
Date”).

3.             Commitments.  The Commitment of each Lender, based upon the
Facility Amount as reduced by this Amendment, is as set forth on Schedule 2 to
this Amendment.

4.             Increase of
Facility Amount.  Notwithstanding the
provisions of Section 2.1.1.2 of the Agreement, the maximum amount to which the
Facility Amount and the Revolving Sublimit may be increased pursuant to the
provisions thereof shall be $100,000,000 in excess of the aggregate Commitments
of the Lenders who, at the time such increase is requested, are not Rejecting
Lenders.

5.             Applicable Spread.

5.1           Notwithstanding the provisions of Section
2.4.2 of the Agreement, the Applicable Spread shall be re-calculated and
adjusted on and as of September 1, 2007 based upon the Covenant Compliance
Certificate that is required to be delivered on August 19, 2007.

5.2           The third sentence of Section 2.4.2 of the
Agreement is hereby deleted and the following is inserted in its place:

If a Compliance Certificate is not
delivered when due, then the Applicable Spread (i) shall be adjusted, on the
Business Day on which the Compliance Certificate was due, to the highest of the
possible rates of the Applicable Spread and (ii) shall continue in effect at
that rate until Borrowers deliver to Agent the delinquent Compliance
Certificate, whereupon the Applicable Spread shall be adjusted, if required, as
of the date such Compliance Certificate is delivered, based on such Compliance
Certificate.

6.             Prepayments;
Requests for Advances.

6.1           Section 2.7.1 of the Agreement is hereby
deleted and the following is inserted in its place:

2.7.1        Borrowers may make no more than six (6)
payments of principal of the Indebtedness during any calendar month (provided
that payments of the principal of Letter of Credit Advances and of Swing Line
Loans and payments made by Borrowers pursuant to Section 2.7.2 during any month
shall not be subject to such limit).  The
acceptance by Lenders of any prepayment when there is an Event of Default in
existence shall not constitute a waiver, release or accord and satisfaction
thereof or of any rights in respect thereto by the Lenders.

6.2           Notwithstanding any contrary provision in
Section 2.12.1 of the Agreement, but subject to the parenthetical
qualifications contained in the last sentence of Section 2.12.1, Borrowers may
request up to six (6) Advances of Loans under the Line of Credit during any
calendar month.

 5
 

7.             Release of
Collateral.  Section 2.11.2 of the
Agreement is hereby deleted and the following is inserted in its place:

2.11.2      Master Borrower may from time to time, but not
more frequently than annually, by written notice to Agent request that the
Lenders agree to release all Collateral for the Indebtedness.  If the Lenders unanimously so agree, Agent
shall advise Master Borrower and if no Event of Default then exists, Agent
shall promptly after the Collateral Release Date deliver to Master Borrower
such releases of liens, satisfaction pieces or other instruments that are
appropriate to cause all Mortgages then held by Agent to be satisfied of
record.  The cost of preparation of such
instruments shall be Lenders’ Costs and Borrowers shall be responsible to
effect the proper recording of such instruments.

8.             Postponement of
Maturity Date.

8.1           If all or a portion of the Commitment of a
Rejecting Lender is thereafter assigned in accordance with the provisions of
the Agreement, the assignee thereof may, by written notice to Agent and Master
Borrower waive the obligations of Borrowers to repay such assignee’s Pro Rata
Share of the Indebtedness on the Rejecting Lender’s Facility Termination Date
that is applicable to such assigned Commitment, as would otherwise be required
by Section 2.13.2 of the Agreement, in which event (i) such Pro Rata Share
of the Indebtedness shall be payable as elsewhere provided in the Agreement and
(ii) Master Borrower shall not have the right to terminate such assignee’s
Commitment as described in Section 2.13.3 of the Agreement.

8.2           The
following is added at the end of Section 2.13.3 of the Agreement:

Notwithstanding anything
to the contrary contained in this Section 2.13.3, no Rejecting Lender’s
Commitment may be so terminated by Master Borrower as of a date that is prior
to December 20, 2008.

8.3           Each
reference in Section 2.13 of the Agreement to “Section 13.9.6” is hereby
replaced with “Section 13.9.7.”

9.             Borrowing Base
Availability.  Notwithstanding
anything to the contrary contained in Section 3.3.2.4 of the Agreement, the
maximum Borrowing Base Availability attributable to Asset Class (ii), including
models, determined on the basis of any Borrowing Base Certificate that is provided
in accordance with Section 3.4 and is dated as of a date that is after July 31,
2007 and is on or before December 31, 2007 shall not exceed 45% of the
aggregate Borrowing Base Availability attributable to Asset Classes (i) and
(ii) (including model Units) as shown on such Borrowing Base Certificate.  The maximum Borrowing Base Availability
attributable to Asset Class (ii), including models, determined on the basis of
any Borrowing Base Certificate that is dated as of a date that is after
December 31, 2007, shall not exceed 37.5% of the aggregate Borrowing Base
Availability attributable to Asset Classes (i) and (ii) (including model Units)
as shown on such Borrowing Base Certificate.

10.           Reporting Requirements.  Section 6.1.2 of the Agreement is deleted and
the following inserted in its place:

 6
 

6.1.2        As soon as available, and in any event within fifty
(50) days after the close of each of the first three Fiscal Quarters and eighty
(80) days after the close of each fourth Fiscal Quarter (or within five (5)
Business Days after Guarantor files its Annual Report on Form 10-K for such
Fiscal Year, if earlier), unaudited management-prepared quarterly Financial
Statements of Guarantor (which shall include a Consolidated Balance Sheet and a
Consolidated Statement of Operations) as of the end of each Fiscal Quarter, all
in reasonable detail and prepared in conformity with GAAP, applied on a basis
consistent with that of the preceding Fiscal Year. Such statements shall be
certified as to their correctness by the chief financial officer of Guarantor.

11.           Permitted
Subordinated Debt.  Notwithstanding
the provisions of Section 7.1(viii) of the Agreement, Permitted Subordinated
Debt shall mean only (i) the Debt incurred pursuant to (A) that certain Junior
Subordinated Indenture dated as of November 23, 2005, between OHI Financing,
Inc. and JPMorgan Chase Bank National Association, as amended by the
Supplemental Indenture and (B) that certain Junior Subordinated Indenture dated
as of September 20, 2005, among OHI Financing, Inc. Guarantor and Wilmington
Trust Company, and (ii) Permitted Subordinated Debt issued or incurred in
exchange for, or the net proceeds of which are used to extend, refinance,
renew, repay, replace, defease or refund, (a) the Permitted Subordinated
Debt described in the foregoing clause (i) or (b) Permitted Subordinated Debt
previously issued or incurred pursuant to clause (a) of this clause (ii),
provided that the principal amount (or accreted value, if applicable) of the
Permitted Subordinated Debt issued or incurred pursuant to this clause (ii)
does not exceed the principal amount (or accreted value, if applicable) of the
Permitted Subordinated Debt so extended, refinanced, renewed, replaced,
defeased or refunded (plus all accrued and unpaid interest thereon and the
amount of any reasonably determined premium necessary to accomplish the
refinancing and such reasonable expenses incurred in connection therewith).

12.           Additional Negative
Covenants.

The following provision is added to Article VII of the
Agreement:

7.6           Restricted
Payments.  Permit (i) Guarantor or
any Borrower to (a) repurchase, in any manner, any stock or other equity
securities heretofore issued by Guarantor or any Borrower, or (b) pay dividends
on any common stock in excess of $0.08 per outstanding share per Fiscal Year
(paid on a quarterly basis at $0.02 per share per quarter) (such per share
dividend amounts to be adjusted for any stock split) or (ii) Guarantor or any
Borrower to redeem, repay principal of or retire any Permitted Subordinated
Debt prior to the scheduled maturity or due date thereof; provided, however,
that Guarantor or any Borrower may redeem, repay principal of or retire any
Permitted Subordinated Debt with other Permitted Subordinated Debt as provided
elsewhere in this Agreement.

13.           Financial Covenants.  Article VIII of the Agreement is hereby
deleted, as of the Effective Date, and the following is inserted in its place:

 7
 

ARTICLE
VIII. FINANCIAL COVENANTS

So long as the Obligations shall remain unpaid or
Lenders have any obligation to make Loans or issue Letters of Credit hereunder,
Borrowers shall comply with the following covenants.  For purposes of all calculations made for
purposes of determining compliance with the financial covenants contained in
this Article VIII and the interpretation of any defined terms used in this
Article VIII, assets and liabilities associated with option or land bank
arrangements of any Borrower or Affiliate of Guarantor that are required to be
included in the balance sheet of Guarantor, solely due to Interpretation Number
46, as issued by the Financial Accounting Standards Board in January 2003 (as
revised), shall not be included within the calculation performed to determine
compliance with the covenants contained in Sections 8.2, 8.3, 8.4, 8.5 or 8.8
hereof.  Compliance with the covenants
contained in this Article VIII shall, as appropriate, be determined on the
combined Financial Statements of Guarantor (which shall include all Borrowers,
Guarantor and all consolidated subsidiaries of any Borrower or Guarantor).

8.1           Debt
Service Coverage Ratio.  There shall
be no required Debt Service Coverage Ratio as of the last day of the Fiscal
Quarters ended June 30, 2007, September 30, 2007 or December 31, 2007.  As of the last day of each of the following
Fiscal Quarters the Debt Service Coverage Ratio shall be greater than or equal
to the following applicable ratios:

	
  Fiscal Quarters Ended

  	
   

  	
  Minimum
  Required Ratio

  
	
   

  	
   

  	
   

  
	
  March 31, 2008

  	
   

  	
  0.50:1

  
	
  June 30, 2008

  	
   

  	
  0.50:1

  
	
  September 30, 2008

  	
   

  	
  0.70:1

  
	
  December 31, 2008

  	
   

  	
  0.70:1

  
	
  March 31, 2009

  	
   

  	
  0.70:1

  
	
  June 30, 2009

  	
   

  	
  0.70:1

  
	
  September 30, 2009

  	
   

  	
  1.00:1

  

 

8.2           Consolidated
Tangible Net Worth.  Guarantor shall
maintain a minimum Consolidated Tangible Net Worth that (i) on June 30,
2007, is at least $200,000,000 and (ii) at all times after June 30, 2007, is
equal to an amount that is not less than the sum of (a) the greater of (I)
92.5% of Guarantor’s Consolidated Tangible Net Worth as of June 30, 2007
(as reflected in its audited financial statements) or (II) $192,000,000, plus
(b) an amount equal to fifty percent (50%) of the positive net income of
Guarantor earned during each Fiscal Quarter that ends after June 30, 2007 plus
(c) all of the net proceeds of equity securities issued by Guarantor or any of
its subsidiaries after June 30, 2007.

8.3           Leverage.

8.3.1        As of the last day of each Fiscal Quarter that
ends on or after June 30, 2007, and on or before March 31, 2008,
Guarantor’s Leverage Ratio shall not exceed 3.00:1.

8.3.2        As of the last day of each Fiscal Quarter that
ends after March 31, 2008, Guarantor’s Leverage Ratio shall not exceed
2.75:1.

 8
 

8.4           Investments
in Joint Ventures.  The aggregate
value of Guarantor’s and Borrowers’ investments in Joint Ventures or in any
other entity that is not directly or indirectly wholly-owned by Guarantor shall
at no time exceed fifteen (15%) percent of Guarantor’s Consolidated Adjusted
Tangible Net Worth.

8.5           Ownership of Land.

On the last day of
each Fiscal Quarter that ends on or after June 30, 2007, (i) the aggregate
book value of all Approved Land and Raw Land owned by Borrowers, Guarantor or
any subsidiary of a Borrower or Guarantor shall not exceed twenty five percent
(25%) of Guarantor’s Consolidated Adjusted Tangible Net Worth and (ii) the
ratio of (a) the book value of all Land owned by Borrowers, Guarantor or any
subsidiary of a Borrower or Guarantor which is not subject to a Qualifying
Agreement of Sale and on which no Unit has been constructed or is being
constructed to (b) Guarantor’s Consolidated Adjusted Tangible Net Worth shall
not exceed the following applicable ratio:

	
  Fiscal Quarter Ending

  	
   

  	
  Applicable
  Ratio

  
	
   

  	
   

  	
   

  
	
  June 30, 2007

  	
   

  	
  2.10:1

  
	
  September 30, 2007

  	
   

  	
  2.00:1

  
	
  December 31, 2007

  	
   

  	
  2.00:1

  
	
  March 31, 2008

  	
   

  	
  2.00:1

  
	
  June 30, 2008

  	
   

  	
  1.85:1

  
	
  September 30, 2008

  	
   

  	
  1.85:1

  
	
  December 31, 2008

  	
   

  	
  1.85:1

  
	
  March 31, 2009 and thereafter

  	
   

  	
  1.75:1

  

 

8.6           Units
in Inventory.  At no time shall the
aggregate number of Units (whether completed or under construction) owned by
Borrowers, Guarantor or any subsidiary of Guarantor and not subject to a
Qualifying Agreement of Sale exceed thirty five percent (35%) of the total
number of Units sold and settled by Borrowers, Guarantor and all subsidiaries
of Guarantor during the immediately preceding four (4) Fiscal Quarters.

8.7           Cash
Flow From Operations.  If as of the
last day of any Fiscal Quarter that ends on or after December 31, 2007, the
Debt Service Coverage Ratio is less than 1.25:1, the Cash Flow Coverage Ratio
as of such day shall be greater than or equal to 1.50:1; provided,
however, that if such Cash Flow Coverage Ratio is less than 1.50:1, such shall
not be deemed to be a breach of the covenant contained in this Section 8.7 if
(a) such Cash Flow Coverage Ratio is at least 1.00:1 and (b) the Cash
Flow Coverage Ratio as of the last day of each of the three (3) immediately
preceding Fiscal Quarters ending on or after December 31, 2007 was at
least 1.50:1; provided further, however, that if the Cash Flow Coverage
Ratio as of the last day of a Fiscal Quarter ending on December 31, 2007,
March 31, 2008, or June 30, 2008 is greater than 1.00:1 but less than
1.50:1 and the covenant contained in the preceding clause (b) is not satisfied,
such shall not be a default hereunder unless the Cash Flow Coverage Ratio as of
the last day of any of the other of the Fiscal Quarters ending on
December 31, 2007, March 31, 2008, June 30, 2008, and September 30, 2008
also is less than 1.50:1.

 9
 

8.8           Liquidity.  Each Borrowing Base Certificate delivered to
Agent as of or after September 30, 2007, shall include a statement of the
then-current aggregate amounts Borrowers’ and Guarantor’s cash (including
without limitation restricted cash due from title companies) and Cash
Equivalents, each on a consolidated basis, as of the reporting date.  Commencing upon the date this Amendment
becomes effective, (i) the aggregate of Borrowers’ and Guarantor’s cash and
Cash Equivalents, each on a consolidated basis, on each day shall not be less
than $10,000,000 and (ii) the Liquidity as of the reporting date of each
Borrowing Base Certificate shall not be less than $15,000,000.

8.9           Reports
Regarding Financial Covenants. 
Within fifty (50) days following the end of each of the first three
Fiscal Quarters of each fiscal year, and within eighty (80) days after the end
of each fourth Fiscal Quarter of each fiscal year (or within five (5) Business
Days after Guarantor files its Annual Report on Form 10-K for such Fiscal Year,
if earlier), Borrowers shall submit to Agent a Covenant Compliance Certificate,
in the form attached hereto as Exhibit 8.7 and executed by the chief financial
officer of Guarantor, confirming that the Borrower is in compliance with the
financial covenants of this Article VIII as of the dates provided herein for
compliance.

14.           Events
of Default.  Section 9.2 of the
Agreement is hereby amended by adding, to the provision contained therein,
reference to Section 7.6 as a covenant breach to which the grace period
contained in Section 9.2 shall not be applicable.

15.           No
Defense.  Each of the Borrowers and
Guarantor hereby (i) ratifies and affirms their respective obligations and
liabilities under the Loan Documents to which they are a party and (ii)
represents to, and agrees with, Agent and Lenders that on the Effective Date it
has no defense, set-off or counterclaim to or against any of such liabilities
or obligations.

16.           Counterparts.  This Amendment may be executed in any number
of counterparts and by different parties hereto in separate counterparts, each
of which when so executed shall be deemed to be an original and shall be
binding upon all parties, their successors and assigns, and all of which taken
together shall constitute one and the same agreement.

17.           Entire Agreement.  The Agreement (as amended by this Amendment)
and the other Loan Documents contain the entire agreement and understanding
among Borrowers, Guarantor, Lenders and Agent regarding the Facility.  All prior negotiations and discussions

 10
 

between or among any of the parties hereto regarding
the Facility and the terms and conditions thereof are superseded by the
Agreement (as amended by this Amendment) and the other Loan Documents.

IN WITNESS WHEREOF, the parties
hereto have executed this Agreement under seal the day and year set forth
above.

 

	
  Master Borrower:

  	
  Greenwood
  Financial, Inc., a Delaware corporation

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  LAWRENCE J.
  DUGAN

  	
   

  
	
   

  	
   

  	
  Lawrence J. Dugan

  
	
   

  	
   

  	
  Vice President

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  Corporate Borrowers:

  	
  Masterpiece
  Homes, Inc.

  
	
   

  	
  OHB Homes, Inc.

  
	
   

  	
  Orleans
  Corporation

  
	
   

  	
  Orleans Corporation
  of New Jersey

  
	
   

  	
  Orleans
  Construction Corp.

  
	
   

  	
  Parker &
  Lancaster Corporation

  
	
   

  	
  Parker &
  Orleans Homebuilders, Inc.

  
	
   

  	
  Sharp Road
  Farms, Inc.

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  LAWRENCE J.
  DUGAN

  	
   

  
	
   

  	
   

  	
  Lawrence J. Dugan

  
	
   

  	
   

  	
  Vice President

  

 

 

[Borrowers’
signatures continued on the following page]

 11
 

 

	
  Limited Liability Company

  	
   

  
	
  Borrowers:

  	
  OPCNC, LLC

  Orleans at Bordentown, LLC

  Orleans at Cooks Bridge, LLC

  Orleans at Covington Manor, LLC

  Orleans at Crofton Chase, LLC

  Orleans at East Greenwich, LLC

  Orleans at Elk Township, LLC

  Orleans at Evesham, LLC

  Orleans at Hamilton, LLC

  Orleans at Harrison, LLC

  Orleans at Hidden Creek, LLC

  Orleans at Jennings Mill, LLC

  Orleans at Lambertville, LLC

  Orleans at Lyons Gate, LLC

  Orleans at Mansfield, LLC

  Orleans at Maple Glen, LLC

  Orleans at Meadow Glen, LLC

  Orleans at Millstone, LLC

  Orleans at Millstone River Preserve, LLC

  Orleans at Moorestown, LLC

  Orleans at Tabernacle, LLC

  Orleans at Upper Freehold, LLC

  Orleans at Wallkill, LLC (f/k/a Kabro of Middletown, LLC)

  Orleans at Westampton Woods, LLC

  Orleans at Woolwich, LLC

  Orleans Arizona
  Realty, LLC (f/k/a
  Orleans at King Ranch, LLC)
 Orleans DK, LLC

  Parker Lancaster, Tidewater, LLC

  Wheatley Meadows Associates, LLC

  	 

	
   

  	
   

  	
   

  	 

	
   

  	
   

  	
   

  	 

	
   

  	
  By:

  	
  LAWRENCE J.
  DUGAN

  	
   

  	 

	
   

  	
   

  	
  Lawrence J. Dugan

  	 

	
   

  	
   

  	
  Vice President

  	 

					

 

[Borrowers’ signatures continued on the following page]

 12
 

 

	
  Limited Partnership

  Borrowers:

  	
  

  Brookshire Estates, L.P. (f/k/a
  Orleans at Brookshire Estates, L.P.)

  Orleans at Falls, LP

  Orleans at Limerick, LP

  Orleans at Lower Salford, LP

  Orleans at Thornbury, LP

  Orleans at Upper Saucon, L.P.

  Orleans at Upper Uwchlan, LP

  Orleans at West Bradford, LP

  Orleans at West Vincent, LP

  Orleans at Windsor Square, LP

  Orleans at Wrightstown, LP

  Stock Grange, LP

  
	
   

  	
  By:

  	
  OHI PA GP, LLC,
  sole General Partner

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
  LAWRENCE J.
  DUGAN

  	
   

  
	
   

  	
   

  	
   

  	
  Lawrence J.
  Dugan

  
	
   

  	
   

  	
   

  	
  Vice President

  
	
   

  	
   

  	
   

  
	
   

  	
  Orleans RHIL, LP

  Realen Homes, L.P.

  
	
   

  	
  By:

  	
  RHGP, LLC, sole
  General Partner

  
	
   

  	
   

  	
  By:

  	
  Orleans
  Homebuilders, Inc.,

  
	
   

  	
   

  	
   

  	
  Authorized
  Member

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  By:

  	
  GARRY P. HERDLER

  
	
   

  	
   

  	
   

  	
   

  	
  Garry P.
  Herdler, Executive

  
	
   

  	
   

  	
   

  	
   

  	
  Vice President
  &

  
	
   

  	
   

  	
   

  	
   

  	
  Chief Financial
  Officer

  
	
   

  	
   

  	
   

  	
   

  
	
  Guarantor:

  	
  Orleans
  Homebuilders, Inc., a Delaware corporation

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  GARRY P. HERDLER

  	
   

  
	
   

  	
   

  	
  Garry P.
  Herdler, Executive

  
	
   

  	
   

  	
  Vice President
  &

  
	
   

  	
   

  	
  Chief Financial
  Officer

  
	
   

  	
   

  	
   

  
	
  Agent:

  	
  Wachovia Bank,
  National Association

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By: 

  	
  JEFFREY D.
  WALLACE

  	
   

  
	
   

  	
   

  	
  Jeffrey D.
  Wallace

  
	
   

  	
   

  	
  Senior Vice
  President

  
						

 

 13
 

 

	
  

  	
  LENDER
  SIGNATURE PAGE TO FOURTH

  AMENDMENT TO AMENDED AND

  RESTATED REVOLVING CREDIT LOAN

  AGREEMENT WITH GREENWOOD

  FINANCIAL, INC. AS MASTER BORROWER,

  DATED AS OF SEPTEMBER 6, 2007:

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  WACHOVIA BANK,

  NATIONAL ASSOCIATION

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  JEFFREY D.
  WALLACE

  	
   

  
	
   

  	
   

  	
  Jeffrey D.
  Wallace, Senior Vice President

  
					

 

 14
 

 

	
  

  	
  LENDER
  SIGNATURE PAGE TO FOURTH

  AMENDMENT TO AMENDED AND

  RESTATED REVOLVING CREDIT LOAN

  AGREEMENT WITH GREENWOOD

  FINANCIAL, INC. AS MASTER BORROWER,

  DATED AS OF SEPTEMBER 6, 2007:

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  BANK OF AMERICA,
  N.A.

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  SEAN FINNEGAN

  	
   

  
	
   

  	
   

  	
  Name: Sean
  Finnegan

  
	
   

  	
   

  	
  Title: Senior
  Vice President

  
					

 

 15
 

 

	
  

  	
  LENDER SIGNATURE PAGE TO FOURTH

  AMENDMENT TO AMENDED AND

  RESTATED REVOLVING CREDIT LOAN

  AGREEMENT WITH GREENWOOD

  FINANCIAL, INC. AS MASTER BORROWER,

  DATED AS OF SEPTEMBER 6, 2007:

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  SOVEREIGN BANK

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  ERNEST J.
  KOCIBAN

  	
   

  
	
   

  	
   

  	
  Name: Ernest J.
  Kociban

  
	
   

  	
   

  	
  Title: Senior
  Vice President

  
					

 

 16
 

 

	
  

  	
  LENDER SIGNATURE PAGE TO FOURTH

  AMENDMENT TO AMENDED AND

  RESTATED REVOLVING CREDIT LOAN

  AGREEMENT WITH GREENWOOD

  FINANCIAL, INC. AS MASTER BORROWER,

  DATED AS OF SEPTEMBER 6, 2007:

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  MANUFACTURERS
  AND TRADERS TRUST 

  COMPANY

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  BERNARD T.
  SHIELDS

  	
   

  
	
   

  	
   

  	
  Name: Bernard T.
  Shields

  
	
   

  	
   

  	
  Title:   Vice President

  
					

 

 17
 

 

	
  

  	
  LENDER SIGNATURE PAGE TO FOURTH

  AMENDMENT TO AMENDED AND

  RESTATED REVOLVING CREDIT LOAN

  AGREEMENT WITH GREENWOOD

  FINANCIAL, INC. AS MASTER BORROWER,

  DATED AS OF SEPTEMBER 6, 2007:

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  NATIONAL CITY
  BANK

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  SEAN APICELLA

  	
   

  
	
   

  	
   

  	
  Name: Sean
  Apicella

  
	
   

  	
   

  	
  Title: Assistant
  Vice President

  
					

 

 18
 

 

	
  

  	
  LENDER SIGNATURE PAGE TO FOURTH

  AMENDMENT TO AMENDED AND

  RESTATED REVOLVING CREDIT LOAN

  AGREEMENT WITH GREENWOOD

  FINANCIAL, INC. AS MASTER BORROWER,

  DATED AS OF SEPTEMBER 6, 2007:

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  FIRSTRUST BANK

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  GARY S. KINN

  	
   

  
	
   

  	
   

  	
  Name: Gary S.
  Kinn

  
	
   

  	
   

  	
  Title: Senior
  Vice President

  
					

 

 19
 

 

	
  

  	
  LENDER SIGNATURE PAGE TO FOURTH

  AMENDMENT TO AMENDED AND

  RESTATED REVOLVING CREDIT LOAN

  AGREEMENT WITH GREENWOOD

  FINANCIAL, INC. AS MASTER BORROWER,

  DATED AS OF SEPTEMBER 6, 2007:

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  GUARANTY BANK

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
   

  	
   

  
	
   

  	
   

  	
  Name: 

  
	
   

  	
   

  	
  Title: 

  
					

 

 20
 

 

	
  

  	
  LENDER SIGNATURE PAGE TO FOURTH

  AMENDMENT TO AMENDED AND

  RESTATED REVOLVING CREDIT LOAN

  AGREEMENT WITH GREENWOOD

  FINANCIAL, INC. AS MASTER BORROWER,

  DATED AS OF SEPTEMBER 6, 2007:

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  CITIZENS BANK OF
  PENNSYLVANIA

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  BRUCE G. SHEARER

  	
   

  
	
   

  	
   

  	
  Name: Bruce G.
  Shearer

  
	
   

  	
   

  	
  Title: Vice
  President

  
					

 

 21
 

 

	
  

  	
  LENDER SIGNATURE PAGE TO FOURTH

  AMENDMENT TO AMENDED AND

  RESTATED REVOLVING CREDIT LOAN

  AGREEMENT WITH GREENWOOD

  FINANCIAL, INC. AS MASTER BORROWER,

  DATED AS OF SEPTEMBER 6, 2007:

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  COMMERCE BANK,
  N.A.

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  JOSEPH L. RAGO

  	
   

  
	
   

  	
   

  	
  Name: Joseph L.
  Rago

  
	
   

  	
   

  	
  Title: Vice
  President

  
					

 

 22
 

 

	
  

  	
  LENDER SIGNATURE PAGE TO FOURTH

  AMENDMENT TO AMENDED AND

  RESTATED REVOLVING CREDIT LOAN

  AGREEMENT WITH GREENWOOD

  FINANCIAL, INC. AS MASTER BORROWER,

  DATED AS OF SEPTEMBER 6, 2007:

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  SUNTRUST BANK

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
   

  	
   

  
	
   

  	
   

  	
  Name:

  
	
   

  	
   

  	
  Title:

  
					

 

 23
 

 

	
  

  	
  LENDER SIGNATURE PAGE TO FOURTH

  AMENDMENT TO AMENDED AND

  RESTATED REVOLVING CREDIT LOAN

  AGREEMENT WITH GREENWOOD

  FINANCIAL, INC. AS MASTER BORROWER,

  DATED AS OF SEPTEMBER 6, 2007:

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  REGIONS BANK,
  successor by merger to

  Amsouth Bank

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
   

  	
   

  
	
   

  	
   

  	
  Name:

  
	
   

  	
   

  	
  Title:

  
					

 

 24
 

 

	
  

  	
  LENDER SIGNATURE PAGE TO FOURTH

  AMENDMENT TO AMENDED AND

  RESTATED REVOLVING CREDIT LOAN

  AGREEMENT WITH GREENWOOD

  FINANCIAL, INC. AS MASTER BORROWER,

  DATED AS OF SEPTEMBER 6, 2007:

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  FRANKLIN BANK,
  SSB

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
   

  	
   

  
	
   

  	
   

  	
  Name:

  
	
   

  	
   

  	
  Title:

  
					

 

 25
 

 

	
  

  	
  LENDER SIGNATURE PAGE TO FOURTH

  AMENDMENT TO AMENDED AND

  RESTATED REVOLVING CREDIT LOAN

  AGREEMENT WITH GREENWOOD

  FINANCIAL, INC. AS MASTER BORROWER,

  DATED AS OF SEPTEMBER 6, 2007:

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  COMERICA BANK

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
   

  	
   

  
	
   

  	
   

  	
  Name:

  
	
   

  	
   

  	
  Title:

  
					

 

 26
 

 

	
  

  	
  LENDER SIGNATURE PAGE TO FOURTH

  AMENDMENT TO AMENDED AND

  RESTATED REVOLVING CREDIT LOAN

  AGREEMENT WITH GREENWOOD

  FINANCIAL, INC. AS MASTER BORROWER,

  DATED AS OF SEPTEMBER 6, 2007:

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  COMPASS BANK, an
  Alabama Banking

  Corporation

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
   

  	
   

  
	
   

  	
   

  	
  Name:

  
	
   

  	
   

  	
  Title:

  
					

 

 27
 

 

	
  

  	
  LENDER SIGNATURE PAGE TO FOURTH

  AMENDMENT TO AMENDED AND

  RESTATED REVOLVING CREDIT LOAN

  AGREEMENT WITH GREENWOOD

  FINANCIAL, INC. AS MASTER BORROWER,

  DATED AS OF SEPTEMBER 6, 2007:

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  JPMORGAN CHASE
  BANK, N.A.

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  JENNIFER S.
  KELLEY

  	
   

  
	
   

  	
   

  	
  Name: Jennifer
  S. Kelley

  
	
   

  	
   

  	
  Title: Senior
  Vice President

  
					

 

 28
 

 

	
  

  	
  LENDER SIGNATURE PAGE TO FOURTH

  AMENDMENT TO AMENDED AND

  RESTATED REVOLVING CREDIT LOAN

  AGREEMENT WITH GREENWOOD

  FINANCIAL, INC. AS MASTER BORROWER,

  DATED AS OF SEPTEMBER 6, 2007:

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  LaSALLE BANK,
  NATIONAL ASSOCIATION

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  BRIAN R. DAVIS

  	
   

  
	
   

  	
   

  	
  Name: Brian R.
  Davis

  
	
   

  	
   

  	
  Title: Senior
  Vice President

  
					

 

 29
 

 

	
  

  	
  LENDER SIGNATURE PAGE TO FOURTH

  AMENDMENT TO AMENDED AND

  RESTATED REVOLVING CREDIT LOAN

  AGREEMENT WITH GREENWOOD

  FINANCIAL, INC. AS MASTER BORROWER,

  DATED AS OF SEPTEMBER 6, 2007:

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  DEUTSCHE BANK
  TRUST COMPANY

  AMERICAS

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  DAVID J. BELL

  	
   

  
	
   

  	
  Name:

  	
  David J. Bell

  
	
   

  	
  Title:

  	
  Managing
  Director

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  D. LAZAROV

  	
   

  
	
   

  	
  Name:

  	
  Dusan Lazarov

  
	
   

  	
  Title:

  	
  Vice President

  
					

 

 30

Schedule
1.1A  - 
Schedule of Borrowers

Master:                                                                                                      Greenwood
Financial, Inc.

Corporate:

Masterpiece Homes, Inc.

OHB Homes, Inc.

Orleans Corporation

Orleans Corporation of New Jersey

Orleans Construction Corp.

Parker & Lancaster Corporation

Parker & Orleans Homebuilders, Inc.

Sharp
Road Farms, Inc.

Limited Liability Companies:

OPCNC, LLC

Orleans at Bordentown, LLC

Orleans at Cooks Bridge, LLC

Orleans at Covington Manor, LLC

Orleans at Crofton Chase, LLC

Orleans at East Greenwich, LLC

Orleans at Elk Township, LLC

Orleans at Evesham, LLC

Orleans at Hamilton, LLC

Orleans at Harrison, LLC

Orleans at Hidden Creek, LLC

Orleans at Jennings Mill, LLC

Orleans at Lambertville, LLC

Orleans at Lyons Gate, LLC

Orleans at Mansfield, LLC

Orleans at Maple Glen, LLC

Orleans at Meadow Glen, LLC

Orleans at Millstone, LLC

Orleans at Millstone River Preserve, LLC

Orleans at Moorestown, LLC

Orleans at Tabernacle, LLC

Orleans at Upper Freehold, LLC

Orleans
at Wallkill, LLC (f/k/a
Kabro of Middletown, LLC)

(Schedule
of Borrowers continued on the following page)

Orleans at Westampton Woods, LLC

Orleans at Woolwich, LLC

Orleans Arizona Realty, LLC (f/k/a Orleans at King
Ranch, LLC)

Orleans DK, LLC

Parker Lancaster, Tidewater, LLC

Wheatley
Meadows Associates, LLC

Limited Partnerships:

Brookshire Estates, L.P.(f/k/a Orleans at Brookshire
Estates, L.P.)

Orleans at Falls, LP

Orleans at Limerick, LP

Orleans at Lower Salford, LP

Orleans RHIL, LP

Orleans at Thornbury, LP

Orleans at Upper Saucon, L.P.

Orleans at Upper Uwchlan, LP

Orleans at West Bradford, LP

Orleans at West Vincent, LP

Orleans at Windsor Square, LP

Orleans at Wrightstown, LP

Realen Homes, L.P.

Stock Grange, LP

 2

Schedule
2  - 
Schedule of Commitments

	
  Lender

  	
   

  	
  Current 

  Commitment Amount

  	
   

  	
  Current 

  Pro Rata Share

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Bank
  of America, N.A.

  	
   

  	
  $

  	
  88,200,000

  	
   

  	
  15.076923076923

  	
  %

  
	
  Wachovia
  Bank, National Association

  	
   

  	
  70,200,000

  	
   

  	
  12.000000000000

  	
  %

  
	
  Sovereign
  Bank

  	
   

  	
  63,000,000

  	
   

  	
  10.769230769231

  	
  %

  
	
  Manufacturers
  and Traders Trust Company

  	
   

  	
  45,000,000

  	
   

  	
  7.692307692308

  	
  %

  
	
  National
  City Bank

  	
   

  	
  42,300,000

  	
   

  	
  7.230769230769

  	
  %

  
	
  Guaranty
  Bank

  	
   

  	
  40,500,000

  	
   

  	
  6.923076923077

  	
  %

  
	
  Firstrust
  Bank

  	
   

  	
  28,350,000

  	
   

  	
  4.846153846154

  	
  %

  
	
  Citizens
  Bank of Pennsylvania

  	
   

  	
  27,000,000

  	
   

  	
  4.615384615385

  	
  %

  
	
  Commerce
  Bank, N.A.

  	
   

  	
  27,000,000

  	
   

  	
  4.615384615385

  	
  %

  
	
  JPMorgan
  Chase Bank, N.A.

  	
   

  	
  27,000,000

  	
   

  	
  4.615384615385

  	
  %

  
	
  SunTrust
  Bank

  	
   

  	
  27,000,000

  	
   

  	
  4.615384615385

  	
  %

  
	
  Regions
  Bank

  	
   

  	
  22,500,000

  	
   

  	
  3.846153846154

  	
  %

  
	
  Comerica
  Bank

  	
   

  	
  18,000,000

  	
   

  	
  3.076923076923

  	
  %

  
	
  LaSalle
  Bank, National Association

  	
   

  	
  18,000,000

  	
   

  	
  3.076923076923

  	
  %

  
	
  Franklin
  Bank, SSB

  	
   

  	
  16,200,000

  	
   

  	
  2.769230769231

  	
  %

  
	
  Compass
  Bank

  	
   

  	
  13,500,000

  	
   

  	
  2.307692307692

  	
  %

  
	
  Deutsche
  Bank Trust Company Americas

  	
   

  	
  11,250,000

  	
   

  	
  1.923076923077

  	
  %

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
  Total

  	
   

  	
  $

  	
  585,000,000

  	
   

  	
  100.000000000000

  	
  %

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00129-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00129-of-00352.parquet"}]]