Document:

Exhibit 10.15

 Exhibit 10.15 
  
 FORM OF 
 OCEAN CITY HOME BANK 
 CHANGE IN CONTROL AGREEMENT 
  
 This AGREEMENT (“Agreement”) is hereby entered into as of
                    , 2004, by and between Ocean City Home Bank (the “Bank”), a federally-chartered savings bank with its
principal offices at 1001 Asbury Avenue, Ocean City, New Jersey 08226-3392 and                      (“Executive”) and Ocean Shore
Holding Co. (the “Company”), a federally-chartered corporation and the holding company of the Bank, as guarantor. 
  
 WHEREAS, the Bank recognizes the importance of Executive to the Bank’s operations and wishes to protect his position with the Bank in the event of a
change in control of the Bank or the Company for the period provided for in this Agreement; and 
  
 WHEREAS, Executive and the Board of Directors of the Bank desire to enter into an agreement setting forth the terms and conditions of payments due to
Executive in the event of a change in control and the related rights and obligations of each of the parties. 
  
 NOW, THEREFORE, in consideration of the promises and mutual covenants herein contained, it is hereby agreed as follows: 
  

	1.	Term of Agreement. 

  
 (a) The term of this Agreement shall be (i) the initial term, consisting of the period commencing on the date of this Agreement (the “Effective
Date”) and ending on the                      anniversary of the Effective Date, plus (ii) any and all extensions of the initial term
made pursuant to this Section 1. 
  
 (b) Commencing on the first
anniversary of the Effective Date and continuing each anniversary date thereafter, the Board of Directors of the Bank (the “Board of Directors”) may extend the term of this Agreement for an additional one (1) year period beyond the then
effective expiration date, provided that Executive shall not have given at least sixty (60) days’ written notice of his desire that the term not be extended. 
  
 (c) Notwithstanding anything in this Section to the contrary, this Agreement shall terminate if Executive or the Bank
terminates Executive’s employment prior to a Change in Control. 
  

	2.	Change in Control. 

  
 (a) Upon the occurrence of a Change in Control of the Bank or the Company followed at any time during the term of this Agreement by the termination of
Executive’s employment in accordance with the terms of this Agreement, other than for Just Cause, as defined in Section 2(c) of this Agreement, the provisions of Section 3 of this Agreement shall apply. Upon the occurrence of a Change in
Control, Executive shall have the right 

  

 1 

 
to elect to voluntarily terminate his employment at any time during the term of this Agreement following an event constituting “Good Reason.”

  
 “Good Reason” means, unless Executive has consented
in writing thereto, the occurrence following a Change in Control, of any of the following: 
  

	 	(i)	the assignment to Executive of any duties materially inconsistent with Executive’s position, including any material change in status, title, authority, duties or
responsibilities or any other action that results in a material diminution in such status, title, authority, duties or responsibilities, excluding for this purpose an isolated, insubstantial and inadvertent action not taken in bad faith and that is
remedied by the Bank or Executive’s employer reasonably promptly after receipt of notice thereof given by the Executive; 

  

	 	(ii)	a reduction by the Bank or Executive’s employer of the Executive’s base salary in effect immediately prior to the Change in Control; 

  

	 	(iii)	the relocation of the Executive’s office to a location more than 35 miles from its location as of the date of this Agreement; 

  

	 	(iv)	the taking of any action by the Bank or any of its affiliates or successors that would materially adversely affect the Executive’s overall compensation and benefits package,
unless such changes to the compensation and benefits package are made on a non-discriminatory basis to all employees; or 

  

	 	(v)	the failure of the Bank or the affiliate of the Bank by which Executive is employed, or any affiliate that directly or indirectly owns or controls any affiliate by which Executive
is employed, to obtain the assumption in writing of the Bank’s obligation to perform this Agreement by any successor to all or substantially all of the assets of the Bank or such affiliate within thirty (30) days after a reorganization, merger,
consolidation, sale or other disposition of assets of the Bank or such affiliate. 

  
 (b) For purposes of this Agreement, a “Change in Control” shall be deemed to occur on the earliest of any of the following events: 

 
 (i) Merger: The Company merges into or consolidates with another
corporation, or merges another corporation into the Company, and as a result less than a majority of the combined voting power of the resulting corporation immediately after the merger or consolidation is held by persons who were stockholders of the
Company immediately before the merger or consolidation. 
  

 2 

 (ii) Acquisition of Significant Share Ownership: The Company files, or is required to file, a
report on Schedule 13D or another form or schedule (other than Schedule 13G) required under Sections 13(d) or 14(d) of the Securities Exchange Act of 1934, if the schedule discloses that the filing person or persons acting in concert has or have
become the beneficial owner of 25% or more of a class of the Company’s voting securities, but this clause (b) shall not apply to beneficial ownership of Company voting shares held in a fiduciary capacity by an entity of which the Company
directly or indirectly beneficially owns 50% or more of its outstanding voting securities. 
  
 (iii) Change in Board Composition: During any period of two consecutive years, individuals who constitute the Company’s Board of Directors at the beginning of the two-year period cease for any reason to
constitute at least a majority of the Company’s Board of Directors; provided, however, that for purposes of this clause (iii), each director who is first elected by the board (or first nominated by the board for election by the stockholders) by
a vote of at least two-thirds (2/3) of the directors who were directors at the beginning of the two-year period shall be deemed to have also been a director at the beginning of such period; or 
  
 (iv) Sale of Assets: The Company sells to a third party all or
substantially all of its assets. 
  
 Notwithstanding anything in
this Agreement to the contrary, in no event shall the conversion of Ocean City Financial, M.H.C., the Bank and the Company from mutual holding company form to stock holding company form (including without limitation, through the formation of a stock
holding company) constitute a “Change in Control” for purposes of this Agreement. 
  
 (c) Executive shall not have the right to receive termination benefits pursuant to Section 3 hereof upon termination for Just Cause. The term “Just Cause” shall mean termination because of Executive’s
personal dishonesty, incompetence, willful misconduct, any breach of fiduciary duty involving personal profit, intentional failure to perform stated duties, willful violation of any law, rule, regulation (other than traffic violations or similar
offenses), final cease and desist order, or any material breach of any provision of this Agreement. Notwithstanding the foregoing, Executive shall not be deemed to have been terminated for Just Cause unless and until there shall have been delivered
to him a copy of a resolution duly adopted by the affirmative vote of a majority of the entire membership of the Board of Directors at a meeting of the Board of Directors called and held for that purpose (after reasonable notice to Executive and an
opportunity for him, together with counsel, to be heard before the Board of Directors), finding that in the good faith opinion of the Board of Directors, Executive was guilty of conduct justifying termination for Just Cause and specifying the
particulars thereof in detail. Executive shall not have the right to receive compensation or other benefits for any period after termination for Just Cause. During the period beginning on the date of the Notice of Termination for Just Cause pursuant
to Section 4 hereof through the Date of Termination, stock options granted to Executive under any stock option plan shall not be exercisable nor shall any unvested stock 

  

 3 

 
awards granted to Executive under any stock benefit plan of the Bank, the Company or any subsidiary or affiliate thereof, vest. At the Date of Termination,
such stock options and any such unvested stock awards shall become null and void and shall not be exercisable by or delivered to Executive at any time subsequent to such termination for Just Cause. 
  

	3.	Termination Benefits. 

  
 (a) If Executive’s employment is voluntarily (in accordance with Section 2(a) of this Agreement) or involuntarily terminated within one (1) year of a
Change in Control, Executive shall receive: 
  

	 	(i)	a lump sum cash payment equal to              (    ) times the Executive’s
“base amount,” within the meaning of Section 280G(b)(3) of the Internal Revenue Code of 1986, as amended (the “Code”). Such payment shall be made not later than five (5) days following Executive’s termination of employment
under this Section 3. 

  

	 	(ii)	Continued benefit coverage under all Bank health and welfare plans which Executive participated in as of the date of the Change in Control (collectively, the “Employee Benefit
Plans”) for a period of              (    ) months following Executive’s termination of employment. Said coverage shall be provided under the
same terms and conditions in effect on the date of Executive’s termination of employment. Solely for purposes of benefits continuation under the Employee Benefit Plans, Executive shall be deemed to be an active employee. To the extent that
benefits required under this Section 3(a) cannot be provided under the terms of any Employee Benefit Plan, the Bank shall enter into alternative arrangements that will provide Executive with comparable benefits. 

  
 (b) Notwithstanding the preceding provisions of this Section 3, in no event
shall the aggregate payments or benefits to be made or afforded to Executive under said paragraphs (the “Termination Benefits”) constitute an “excess parachute payment” under Section 280G of the Code or any successor thereto, and
to avoid such a result, Termination Benefits will be reduced, if necessary, to an amount (the “Non-Triggering Amount”), the value of which is one dollar ($1.00) less than an amount equal to three (3) times Executive’s “base
amount,” as determined in accordance with said Section 280G. The allocation of the reduction required hereby among the Termination Benefits provided by this Section 3 shall be determined by Executive. 
  

	4.	Notice of Termination. 

  
 (a) Any purported termination by the Bank or by Executive shall be communicated by Notice of Termination to the other party hereto. For purposes of this
Agreement, a “Notice of Termination” shall mean a written notice which shall indicate the specific termination provision in this Agreement relied upon and shall set forth in detail the facts and circumstances claimed to provide a basis for
termination of Executive’s employment under the provision so indicated. 
  

 4 

 (b) “Date of Termination” shall mean the date specified in the Notice of Termination (which, in
the case of a termination for Just Cause, shall not be less than thirty (30) days from the date such Notice of Termination is given). 
  

	5.	Source of Payments. 

  
 All payments provided in this Agreement shall be timely paid in cash or check from the general funds of the Bank. The Company, however, unconditionally
guarantees payment and provision of all amounts and benefits due hereunder to Executive and, if such amounts and benefits due from the Bank are not timely paid or provided by the Bank, such amounts and benefits shall be paid or provided by the
Company.  
  

	6.	Effect on Prior Agreements and Existing Benefit Plans. 

  
 This Agreement contains the entire understanding between the parties hereto and supersedes any prior agreement between the Bank and Executive, except that
this Agreement shall not affect or operate to reduce any benefit or compensation inuring to Executive of a kind elsewhere provided. No provision of this Agreement shall be interpreted to mean that Executive is subject to receiving fewer benefits
than those available to him without reference to this Agreement. Nothing in this Agreement shall confer upon Executive the right to continue in the employ of the Bank or shall impose on the Bank any obligation to employ or retain Executive in its
employ for any period. 
  

	7.	No Attachment. 

  
 (a) Except as required by law, no right to receive payments under this Agreement shall be subject to anticipation, commutation, alienation, sale,
assignment, encumbrance, charge, pledge, or hypothecation or to execution, attachment, levy or similar process or assignment by operation of law, and any attempt, voluntary or involuntary, to affect any such action shall be null, void and of no
effect. 
  
 (b) This Agreement shall be binding upon, and inure to
the benefit of, Executive, the Bank and their respective successors and assigns. 
  

	8.	Modification and Waiver. 

  
 (a) This Agreement may not be modified or amended except by an instrument in writing signed by the parties hereto. 
  
 (b) No term or condition of this Agreement shall be deemed to have been
waived, nor shall there be any estoppel against the enforcement of any provision of this Agreement, except by written instrument of the party charged with such waiver or estoppel. No such written waiver shall be deemed a continuing waiver unless
specifically stated therein, and each such waiver shall operate only as to the specific term or condition waived and shall not constitute a waiver of such term or condition for the future or as to any act other than that specifically waived.

  

 5 

	9.	Severability. 

  
 If, for any reason, any provision of this Agreement, or any part of any provision, is held invalid, such invalidity shall not affect any other provision
of this Agreement or any part of such provision not held so invalid, and each such other provision and part thereof shall to the full extent consistent with law continue in full force and effect. 
  

	10.	Headings for Reference Only. 

  
 The headings of sections and paragraphs herein are included solely for convenience of reference and shall not control the meaning or interpretation of any
of the provisions of this Agreement. In addition, references herein to the masculine shall apply to both the masculine and the feminine. 
  

	11.	Governing Law. 

  
 Except to the extent preempted by federal law, the validity, interpretation, performance, and enforcement of this Agreement shall be governed by the laws
of the State of New Jersey, without regard to principles of conflicts of law of that State. 
  

	12.	Arbitration. 

  
 Any dispute or controversy arising under or in connection with this Agreement shall be settled exclusively by arbitration, conducted before a panel of
three arbitrators sitting in a location selected by Executive within fifty (50) miles from the location of the Bank, in accordance with the rules of the American Arbitration Association then in effect. Judgment may be entered on the
arbitrator’s award in any court having jurisdiction; provided, however, that Executive shall be entitled to seek specific performance of his right to be paid until the Date of Termination during the pendency of any dispute or controversy
arising under or in connection with this Agreement. 
  

	13.	Payment of Legal Fees. 

  
 All reasonable legal fees paid or incurred by Executive pursuant to any dispute or question of interpretation relating to this Agreement shall be paid or
reimbursed by the Bank, only if Executive is successful pursuant to a legal judgment, arbitration or settlement. 
  

	14.	Indemnification. 

  
 The Company or the Bank shall provide Executive (including his heirs, executors and administrators) with coverage under a standard directors’ and
officers’ liability insurance policy at its expense and shall indemnify Executive (and his heirs, executors and administrators) to the fullest extent permitted under applicable law against all expenses and liabilities reasonably incurred by him
in connection with or arising out of any action, suit or proceeding in which he may be involved by reason of his having been a director or officer of the Company or the Bank 

  

 6 

 
(whether or not he continues to be a director or officer at the time of incurring such expenses or liabilities), such expenses and liabilities to include,
but not be limited to, judgments, court costs, attorneys’ fees and the cost of reasonable settlements. 
  

	15.	Successors to the Bank and the Company. 

  
 The Bank and the Company shall require any successor or assignee, whether direct or indirect, by purchase, merger, consolidation or otherwise, to all or
substantially all of the business or assets of the Bank or the Company, expressly and unconditionally to assume and agree to perform the Bank’s and the Company’s obligations under this Agreement, in the same manner and to the same extent
that the Bank and the Company would be required to perform if no such succession or assignment had taken place. 
  
 16. Required Provisions. In the event any of the foregoing provisions of this Section 16 are in conflict with the terms of this Agreement, this Section 16 shall
prevail. 
  

	 	a.	The Bank’s board of directors may terminate Executive’s employment at any time, but any termination by the Bank, other than Termination for Cause, shall not prejudice
Executive’s right to compensation or other benefits under this Agreement. Executive shall not have the right to receive compensation or other benefits for any period after Termination for Cause. 

  

	 	b.	If Executive is suspended from office and/or temporarily prohibited from participating in the conduct of the Bank’s affairs by a notice served under Section 8(e)(3) or 8(g)(1)
of the Federal Deposit Insurance Act, 12 U.S.C. §1818(e)(3) or (g)(1); the Bank’s obligations under this contract shall be suspended as of the date of service, unless stayed by appropriate proceedings. If the charges in the notice are
dismissed, the Bank may in its discretion: (i) pay Executive all or part of the compensation withheld while their contract obligations were suspended; and (ii) reinstate (in whole or in part) any of the obligations which were suspended.

  

	 	c.	If Executive is removed and/or permanently prohibited from participating in the conduct of the Bank’s affairs by an order issued under Section 8(e)(4) or 8(g)(1) of the Federal
Deposit Insurance Act, 12 U.S.C. §1818(e)(4) or (g)(1), all obligations of the Bank under this contract shall terminate as of the effective date of the order, but vested rights of the contracting parties shall not be affected.

  

	 	d.	If the Bank is in default as defined in Section 3(x)(1) of the Federal Deposit Insurance Act, 12 U.S.C. §1813(x)(1) all obligations of the Bank under this contract shall
terminate as of the date of default, but this paragraph shall not affect any vested rights of the contracting parties. 

  

	 	e.	 All obligations under this contract shall be terminated, except to the extent determined that continuation of the contract is necessary for the continued operation
of the Bank: (i) by the Director of the OTS (or his designee), at the time the FDIC or the Resolution Trust Corporation, at the time the FDIC enters 

  

 7 

	 	 
into an agreement to provide assistance to or on behalf of the Bank under the authority contained in Section 13(c) of the Federal Deposit Insurance Act, 12
U.S.C. §1823(c); or (ii) by the Director of the OTS (or his designee) at the time the Director (or his designee) approves a supervisory merger to resolve problems related to the operations of the Bank or when the Bank is determined by the
Director to be in an unsafe or unsound condition. Any rights of the parties that have already vested, however, shall not be affected by such action. 

  

	 	f.	Any payments made to employees Executive pursuant to this Agreement, or otherwise, are subject to and conditioned upon their compliance with 12 U.S.C. §1828(k) and FDIC
regulation 12 C.F.R. Part 359, Golden Parachute and Indemnification Payments. 

  

 8 

 SIGNATURES 
  

IN WITNESS WHEREOF, Ocean City Home Bank and Ocean Shore Holding Co. have caused this Agreement to be executed and their seals to be affixed hereunto
by their duly authorized officers, and Executive has signed this Agreement, on the              day of
                    , 200  . 
  

									
	 ATTEST:
	 	 	 	OCEAN CITY HOME BANIK
				
	 	 	 	 	By:	 	 
	 Corporate Secretary
	 	 	 	 	 	 For the Entire Board of Directors

			
	 ATTEST:
	 	 	 	 OCEAN SHORE HOLDING CO.
(Guarantor)

				
	 	 	 	 	By:	 	 
	 Corporate Secretary
	 	 	 	 	 	 For the Entire Board of Directors

			
	[SEAL]	 	 	 	 
			
	 WITNESS:
	 	 	 	EXECUTIVE
			
	
	 	 	 	

	 	 	 	 	 	 	 

  

 9Eleventh Amendment to Loan Agreement

 EXHIBIT 10.1 
  
 ELEVENTH AMENDMENT TO 
 LOAN AGREEMENT 
  
 THIS
ELEVENTH AMENDMENT TO LOAN AGREEMENT (the “Amendment”) dated as of August 26, 2004 between NVR MORTGAGE FINANCE, INC., a Virginia corporation (“Borrower”), the Lenders party to the Loan Agreement referred to below
(“Lenders”), U.S. BANK NATIONAL ASSOCIATION, as agent (“Agent”) for the Lenders. 
  
 WITNESSETH THAT: 
  
 WHEREAS, the Borrower, the Lenders and the Agent are parties to a Loan Agreement dated as of September 7, 1999, as amended by a Consent, Waiver and First
Amendment to Loan Agreement dated as of November 19, 1999, a Second Amendment to Loan Agreement and Second Amendment to Pledge and Security Agreement dated as of September 1, 2000, a Third Amendment to Loan Agreement dated as of February 16, 2001, a
Fourth Amendment to Loan Agreement dated as of August 31, 2001, a Fifth Amendment to Loan Agreement dated as of November 1, 2001, a Consent, Waiver and Sixth Amendment to Loan Agreement dated as of December 14, 2001, a Seventh Amendment to Loan
Agreement dated as of May 17, 2002, an Eighth Amendment to Loan Agreement dated as of August 15, 2002 a Ninth Amendment to Loan Agreement dated as of April 16, 2003 and a Tenth Amendment to Loan Agreement dated as of August 28, 2003 (as so amended,
the “Loan Agreement”), pursuant to which the Lenders provide the Borrower with a revolving mortgage warehousing credit facility; 
  
 WHEREAS, the Borrower and the Lenders have agreed to amend the Loan Agreement upon the terms and conditions herein set forth. 
  
 NOW, THEREFORE, for value received, the receipt and sufficiency of which are
hereby acknowledged, the Borrower, the Lenders and the Agent agree as follows: 
  
 1. Certain Defined Terms. Each capitalized term used herein without being defined herein that is defined in the Loan Agreement shall have the meaning given to it therein. 
  
 2. Amendments to Loan Agreement. The Loan Agreement is hereby amended
as follows: 
  
 (a) The definition of
“Scheduled Termination Date” in Section 1.1 of the Loan Agreement is hereby amended in its entirety to read as follows: 
  
 “Scheduled Termination Date” means August 25, 2005. 
  
 (b) Schedule 1.1(a) to the Credit Agreement is hereby amended and restated to read as set forth in Exhibit A
to this Amendment. 
  
 (c) Schedule 1.1(b) to the
Credit Agreement is hereby amended and restated to read as set forth in Exhibit B to this Amendment. 

 3. Conditions to Effectiveness of this Amendment. This Amendment shall be effective as of the date
first above written (the “Effective Date”), provided the Agent shall have received at least nine (9) counterparts of this Amendment, duly executed by the Borrower and all of the Lenders, and the following conditions are satisfied:

  
 (a) Before and after giving effect to this
Amendment, the representations and warranties of the Borrower in Section 5 of the Loan Agreement and Section 5 of the Security Agreement shall be true and correct as though made on the date hereof, except to the extent such representations and
warranties by their terms are made as of a specific date and except for changes that are permitted by the terms of the Loan Agreement. 
  
 (b) Before and after giving effect to this Amendment, no Event of Default and no Default shall have occurred and be continuing.

  
 (c) No material adverse change in the
business, assets, financial condition or prospects of the Borrower shall have occurred since March 31, 2004. 
  
 (d) The Agent shall have received the following, each duly executed or certified, as the case may be, and dated as of the date of delivery
thereof: 
  
 (i) a copy of resolutions of the
Board of Directors of the Borrower, certified by its respective Secretary or Assistant Secretary, authorizing or ratifying the execution, delivery and performance of this Amendment; 
  
 (ii) a certified copy of any amendment or restatement of the Articles of Incorporation or the Bylaws of the
Borrower made or entered following the date of the most recent certified copies thereof furnished to the Lenders; and 
  
 (iii) such other documents, instruments and approvals as the Agent may reasonably request. 
  
 (e) The Agent shall have received a new Committed Warehouse
Promissory Note for each of Comerica Bank, JP Morgan Chase Bank and National City Bank of Kentucky in the amount of their Commitment Amount after giving effect to this Amendment. 
  
 4. Acknowledgments. The Borrower and each Lender acknowledges that, as amended hereby, the Loan Agreement remains in
full force and effect with respect to the Borrower and the Lenders, and that each reference to the Loan Agreement in the Loan Documents shall refer to the Loan Agreement, as amended hereby. The Borrower confirms and acknowledges that it will
continue to comply with the covenants set out in the Loan Agreement and the other Loan Documents, as amended hereby, and that its representations and warranties set out in the Loan Agreement and the other Loan Documents, as amended hereby, are true
and correct as of the date of this Amendment, except to the extent such representations and warranties by their terms are made as of a specific date and except for changes that are permitted 
  

 2 

 by the terms of the Loan Agreement. The Borrower represents and warrants that (i) the execution, delivery and performance
of this Amendment is within its corporate powers and have been duly authorized by all necessary corporate action; (ii) this Amendment has been duly executed and delivered by the Borrower and constitutes the legal, valid and binding obligations of
the Borrower, enforceable against the Borrower in accordance with its terms (subject to limitations as to enforceability which might result from bankruptcy, insolvency, or other similar laws affecting creditors’ rights generally and general
principles of equity) and (iii) no Events of Default or Default exist. 
  
 5. General. 
  
 (a) The Borrower
agrees to reimburse the Agent upon demand for all reasonable expenses (including reasonable attorneys fees and legal expenses) incurred by the Agent in the preparation, negotiation and execution of this Amendment and any other document required to
be furnished herewith, and to pay and save the Lenders harmless from all liability for any stamp or other taxes which may be payable with respect to the execution or delivery of this Amendment, which obligations of the Borrower shall survive any
termination of the Loan Agreement. 
  
 (b) This
Amendment may be executed in several counterparts, each of which, when so executed, shall be deemed an original but all such counterparts shall constitute but one and the same instrument. 
  
 (c) Any provision of this Amendment which is prohibited or
unenforceable in any jurisdiction shall, as to such jurisdiction, be ineffective to the extent of such prohibition or unenforceability without invalidating the remaining portions hereof or affecting the validity or enforceability of such provisions
in any other jurisdiction. 
  
 (d) This Amendment
shall be governed by, and construed in accordance with, the internal law, and not the law of conflicts, of the State of Minnesota, but giving effect to federal laws applicable to national banks. 
  
 (e) This Amendment shall be binding upon the Borrower, the
Lenders, the Agent and their respective successors and assigns, and shall inure to the benefit of the Borrower, the Lenders, the Agent and the successors and assigns of the Lenders and the Agent. 
  
 [Remainder of page intentionally left blank.] 
  

 3 

 IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be executed as of the day and year
first above written. 
  

			
	NVR MORTGAGE FINANCE, INC.
		
	By:	 	 /s/ William J. Inman

	Its:	 	President
	  
  
 U.S. BANK NATIONAL ASSOCIATION, as

	Agent and Lender
		
	By:	 	 /s/ Kathleen Connor

	Its:	 	Vice President

  
 [Signature Page
to Eleventh Amendment to Loan Agreement] 
  

 S-1 

			
	GUARANTY BANK
		
	By:	 	 /s/ Jenny Ray Stilwell

	Its:	 	Vice President

  
 [Signature Page
to Eleventh Amendment to Loan Agreement] 
  

 S-2 

			
	 NATIONAL CITY BANK OF
     KENTUCKY

		
	 By:
	 	 /s/ Steve D. Clear

	 Its:
	 	 Account Officer

  
 [Signature Page
to Eleventh Amendment to Loan Agreement] 
  

 S-3 

			
	COMERICA BANK
		
	 By:
	 	 /s/ Gary Sieveking

	 Its:
	 	 Senior Vice President

  
 [Signature Page
to Eleventh Amendment to Loan Agreement] 
  

 S-4 

			
	JPMORGAN CHASE BANK
		
	 By:
	 	 /s/ Cynthia E. Crites

	 Its:
	 	 Senior Vice President

  
 [Signature Page
to Eleventh Amendment to Loan Agreement] 
  

 S-5 

 EXHIBIT A TO 
 ELEVENTH AMENDMENT 
 TO CREDIT AGREEMENT 
  
 Schedule 1.1(a) to Loan Agreement 
  
 Commitment Schedule 
  

				
	 Lender

	  	 Commitment
 Amount

		
	 U.S. Bank National Association
 Mortgage Banking Services
 U.S. Bank Place
 800 Nicollet Mall
 Mail Station BC-MN-H03B
 Minneapolis, Minnesota 55402
 Attention: Kathleen Connor
 Telephone: 612-973-0306
 Telecopy: 612-973-0826
	  	$	50,667,500
		
	 Guaranty Bank
 8333 Douglas, 11th Floor
 Dallas, Texas 75225
 Attention: Jenny Stilwell
 Telephone: 214-360-2837
 Telecopy: 214-360-1660
	  	$	35,000,000
		
	 Comerica Bank
 Comerica Tower at Detroit Center
 500 Woodward Avenue
 Detroit, MI 48226
 Attention: Steve D. Clear
 Telephone: 313-222-3042
 Telecopy: 313-222-9295
	  	$	25,000,000
		
	 National City Bank of Kentucky
 101 South 5th Street
 Louisville, KY 40202
 Attention: Mary Jo Reiss
 Telephone: 502-581-4197
 Telecopy: 502-581-4154
	  	$	24,332,500
		
	 JPMorgan Chase Bank
 707 Travis – 6 CBBN 91
 Houston, TX 77002-8091
 Attention: Ms. Cynthia E. Crites
 Telephone: 713-216-4425
 Telecopy: 713-216-1567
	  	$	40,000,000
	 	  	
	

	 TOTAL
	  	$	175,000,000
	 	  	
	

 EXHIBIT B TO 
 ELEVENTH AMENDMENT 
 TO CREDIT AGREEMENT 
  
 Schedule 1.1(b) to Loan Agreement 
  
 Investors 
  

			
	 FNMA AVM, LP
	 	 Chase Manhattan Mortgage Corporation

	 FHLMC
	 	 Charter One Bank, F.S.B.

	 GNMA
	 	 Vining Sparks

	 First Boston
	 	 Great American Federal Savings and Loan

	 Merrill Lynch
	 	 Association

	 Morgan Stanley Dean Witter
	 	 Long Island Savings Bank

	 Greenwich Captial
	 	 Rossyln National Mortgage Corporation

	 Donaldson, Lufkin and Jenrette
	 	 Principal Residential Mortgage

	 Paine Webber
	 	 CBS Mortgage Corporation

	 Mabon Securities Corp.
	 	 Carrollton Bank (Carrollton Mortgage

	 Nomura Securities International, Inc.
	 	 Services, Inc.)

	 Citigroup Global Markets, Inc.
	 	 Chase Manhattan Bank, USA, NA

	 Household Mortgage Services.
	 	 Tucker Federal Bank

	 Wachovia Securities
	 	 Indy Mac

	 NationsBank
	 	 Peoples Heritage Bank

	 J.P. Morgan Securities Corp.
	 	 Chevy Chase Bank

	 Plaza Home Mortgage
	 	 Citimortgage

	 First Star Bank, N.A.
	 	 NationsBank Mortgage

	 Sovereign Bank
	 	 Wilshire Financial Services Group

	 Countrywide Funding Corp.
	 	 Regions Mortgage, Inc.

	 Countrywide Home Loans, Inc.
	 	 Surety Mortgage, Inc.

	 Countrywide Mortgage Conduit
	 	 York Federal Savings

	 G.E. Capital Mortgage
	 	 Bear Stearns

	 Citicorp Mortgage
	 	 Astoria Savings

	 PNC Mortgage Company
	 	 Guaranty Federal Bank

	 Saxon Mortgage Company
	 	 First Union National Bank

	 The Massachusetts Company
	 	 Commercial Federal Mortgage Corporation

	 Wells Fargo Mortgage, Inc.
	 	 Greenpoint Savings

	 Residential Funding Corp.
	 	 Comnet Mortgage Services

	 Mellon Bank.
	 	 Colombo Savings

	 Fleet Mortgage Group
	 	 Greater Atlantic Savings Bank, F.S.B.

	 Marine Midland Mortgage Servicing Corp.
	 	 Florida Housing Finance Corporation

	 Inland Mortgage
	 	 Housing Finance Authority of Hillsborough County

	 Headlands Mortgage Company
	 	 Franklin Credit Management Corp.

	 Maryland Community Development
	 	 RBMG, Inc.

	 Administration a/d/a/ CDA
	 	 Southern California Housing Finance Agency

	 North Carolina Housing Finance Agency
	 	 State of New York Mortgage Agency

			
	 Ohio Housing Finance Agency
	 	 Tennessee Housing Development Agency

	 Orange County Housing Finance Authority
	 	 Advest

	 Pennsylvania Housing Finance Agency
	 	 Bank One

	 Lehman Brothers Bank
	 	 National City Mortgage

	 Dollar Bank
	 	 Charter One Mortgage

	 Virginia Housing Development Agency
	 	 E-Trade Financial

	 Washington Mutual
	 	 

 COMMITTED WAREHOUSE PROMISSORY NOTE 
  

			
	$25,000,000.00	 	Minneapolis, Minnesota
	 	 	August 26, 2004

  
 FOR VALUE RECEIVED,
the undersigned, NVR Mortgage Finance, Inc., a Virginia corporation (the “Maker”), hereby unconditionally promises to pay to the order of Comerica Bank (the “Payee”), for the account of the Payee at
the offices of U.S. Bank National Association (“Agent”) at U.S. Bank Place, 601 Second Avenue South, Minneapolis, Minnesota 55402-4302, or such other address as may be given to the Maker by Agent, the principal sum of
TWENTY-FIVE MILLION AND NO/100 DOLLARS ($25,000,000.00), or so much thereof as may be advanced and outstanding hereunder, in lawful money of the United States of America, together with interest on the unpaid principal balance from day-to-day
remaining at the rate provided in the Loan Agreement. Payments of and interest on this Note shall be due and payable on the dates and in the manner provided in the Loan Agreement. 
  
 This Note has been executed and delivered pursuant to, and is subject to certain terms and conditions set forth in, that
certain Loan Agreement among the Maker, Lenders named therein, and Agent as agent for Lenders dated as of September 7, 1999 (as amended to date and as the same may be amended from time to time, the “Loan Agreement”), and is
one of the “Committed Warehouse Promissory Notes” and one of the “Notes” referred to therein. All capitalized terms used herein and not otherwise defined herein shall have the meanings given thereto in
the Loan Agreement. The holder of this Note shall be entitled to the benefits provided for in the Loan Agreement. Reference is made to Section 11.9 of the Loan Agreement for certain provisions limiting the rate of interest which may be
charged on this Note. This Note amends and restates, but does not constitute payment upon or a novation of, that certain Committed Warehouse Promissory Note made by the Maker to the Payee dated most recently prior to the date hereof. Reference is
also made to the Loan Agreement for a statement of (i) the obligation of the Payee to advance funds hereunder, (ii) the events upon which the maturity of this Note may be accelerated or shall automatically be accelerated, as the case may be, (iii)
the requirement that certain payments of principal be made hereunder upon the occurrence of certain events and (iv) the Maker’s right to cure certain Defaults, if any, as more fully set forth therein. 
  
 Except as otherwise provided in the Loan Agreement, the Maker and each
surety, endorser, guarantor and other party ever liable for payment of any sums of money payable on this Note, jointly and severally waive demand for payment, presentment, protest, notice of protest and non-payment, or other notice of default,
notice of acceleration and notice of intention to accelerate, and agree that their liability under this Note shall not be affected by any renewal or extension in the time of payment hereof, or any indulgences, or by any release or change in any
security for the payment of this Note, and hereby consent to any and all renewals, extensions, indulgences, releases or changes, regardless of the number of such renewals, extensions, indulgences, releases or changes. 
  
 This Note shall be governed by, and construed in accordance with, the laws of
the State of Minnesota. 
  

 1 

 If this Note is placed in the hands of an attorney for collection, or if it is collected through any
legal proceedings at law or in equity or in bankruptcy, receivership or other court proceedings, the Maker promises to pay all costs and expenses of collection including, but not limited to, court costs and the reasonable attorneys’ fees of the
holder hereof. 
  

			
	NVR MORTGAGE FINANCE, INC., as Maker
		
	By:	 	 /s/ William J. Inman

	Name:	 	William J. Inman
	Title:	 	President

  

 2 

 COMMITTED WAREHOUSE PROMISSORY NOTE 
  

			
	$40,000,000.00	 	Minneapolis, Minnesota
	 	 	August 26, 2004

  
 FOR VALUE RECEIVED,
the undersigned, NVR Mortgage Finance, Inc., a Virginia corporation (the “Maker”), hereby unconditionally promises to pay to the order of JPMorgan Chase Bank (the “Payee”), for the account of the Payee
at the offices of U.S. Bank National Association (“Agent”) at U.S. Bank Place, 601 Second Avenue South, Minneapolis, Minnesota 55402-4302, or such other address as may be given to the Maker by Agent, the principal sum of
FORTY MILLION AND NO/100 DOLLARS ($40,000,000.00), or so much thereof as may be advanced and outstanding hereunder, in lawful money of the United States of America, together with interest on the unpaid principal balance from day-to-day remaining at
the rate provided in the Loan Agreement. Payments of and interest on this Note shall be due and payable on the dates and in the manner provided in the Loan Agreement. 
  
 This Note has been executed and delivered pursuant to, and is subject to certain terms and conditions set forth in, that
certain Loan Agreement among the Maker, Lenders named therein, and Agent as agent for Lenders dated as of September 7, 1999 (as amended to date and as the same may be amended from time to time, the “Loan Agreement”), and is
one of the “Committed Warehouse Promissory Notes” and one of the “Notes” referred to therein. All capitalized terms used herein and not otherwise defined herein shall have the meanings given thereto in
the Loan Agreement. The holder of this Note shall be entitled to the benefits provided for in the Loan Agreement. Reference is made to Section 11.9 of the Loan Agreement for certain provisions limiting the rate of interest which may be
charged on this Note. This Note amends and restates, but does not constitute payment upon or a novation of, that certain Committed Warehouse Promissory Note made by the Maker to the Payee dated most recently prior to the date hereof. Reference is
also made to the Loan Agreement for a statement of (i) the obligation of the Payee to advance funds hereunder, (ii) the events upon which the maturity of this Note may be accelerated or shall automatically be accelerated, as the case may be, (iii)
the requirement that certain payments of principal be made hereunder upon the occurrence of certain events and (iv) the Maker’s right to cure certain Defaults, if any, as more fully set forth therein. 
  
 Except as otherwise provided in the Loan Agreement, the Maker and each
surety, endorser, guarantor and other party ever liable for payment of any sums of money payable on this Note, jointly and severally waive demand for payment, presentment, protest, notice of protest and non-payment, or other notice of default,
notice of acceleration and notice of intention to accelerate, and agree that their liability under this Note shall not be affected by any renewal or extension in the time of payment hereof, or any indulgences, or by any release or change in any
security for the payment of this Note, and hereby consent to any and all renewals, extensions, indulgences, releases or changes, regardless of the number of such renewals, extensions, indulgences, releases or changes. 
  
 This Note shall be governed by, and construed in accordance with, the laws of
the State of Minnesota. 

 If this Note is placed in the hands of an attorney for collection, or if it is collected through any
legal proceedings at law or in equity or in bankruptcy, receivership or other court proceedings, the Maker promises to pay all costs and expenses of collection including, but not limited to, court costs and the reasonable attorneys’ fees of the
holder hereof. 
  

			
	NVR MORTGAGE FINANCE, INC., as Maker
		
	By:	 	 /s/ William J. Inman

	Name:	 	William J. Inman
	Title:	 	President

  

 2 

 COMMITTED WAREHOUSE PROMISSORY NOTE 
  

			
	$24,332,500.00	 	Minneapolis, Minnesota
	 	 	August 26, 2004

  
 FOR VALUE RECEIVED,
the undersigned, NVR Mortgage Finance, Inc., a Virginia corporation (the “Maker”), hereby unconditionally promises to pay to the order of National City Bank of Kentucky (the “Payee”), for the account
of the Payee at the offices of U.S. Bank National Association (“Agent”) at 800 Nicollet Mall, Minneapolis, Minnesota 55402, or such other address as may be given to the Maker by Agent, the principal sum of TWENTY-FOUR MILLION
THREE HUNDRED THIRTY-TWO THOUSAND FIVE HUNDRED AND NO/100 DOLLARS ($24,332,500.00), or so much thereof as may be advanced and outstanding hereunder, in lawful money of the United States of America, together with interest on the unpaid principal
balance from day-to-day remaining at the rate provided in the Loan Agreement. Payments of and interest on this Note shall be due and payable on the dates and in the manner provided in the Loan Agreement. 
  
 This Note has been executed and delivered pursuant to, and is subject to
certain terms and conditions set forth in, that certain Loan Agreement among the Maker, Lenders named therein, and Agent as agent for Lenders dated as of September 7, 1999 (as amended to date and as the same may be amended from time to time, the
“Loan Agreement”), and is one of the “Committed Warehouse Promissory Notes” and one of the “Notes” referred to therein. All capitalized terms used herein and not otherwise
defined herein shall have the meanings given thereto in the Loan Agreement. The holder of this Note shall be entitled to the benefits provided for in the Loan Agreement. Reference is made to Section 11.9 of the Loan Agreement for
certain provisions limiting the rate of interest which may be charged on this Note. This Note amends and restates, but does not constitute payment upon or a novation of, that certain Committed Warehouse Promissory Note made by the Maker to the Payee
dated most recently prior to the date hereof. Reference is also made to the Loan Agreement for a statement of (i) the obligation of the Payee to advance funds hereunder, (ii) the events upon which the maturity of this Note may be accelerated or
shall automatically be accelerated, as the case may be, (iii) the requirement that certain payments of principal be made hereunder upon the occurrence of certain events and (iv) the Maker’s right to cure certain Defaults, if any, as more fully
set forth therein. 
  
 Except as otherwise provided in the Loan
Agreement, the Maker and each surety, endorser, guarantor and other party ever liable for payment of any sums of money payable on this Note, jointly and severally waive demand for payment, presentment, protest, notice of protest and non-payment, or
other notice of default, notice of acceleration and notice of intention to accelerate, and agree that their liability under this Note shall not be affected by any renewal or extension in the time of payment hereof, or any indulgences, or by any
release or change in any security for the payment of this Note, and hereby consent to any and all renewals, extensions, indulgences, releases or changes, regardless of the number of such renewals, extensions, indulgences, releases or changes.

  
 This Note shall be governed by, and construed in accordance
with, the laws of the State of Minnesota. 

 If this Note is placed in the hands of an attorney for collection, or if it is collected through any
legal proceedings at law or in equity or in bankruptcy, receivership or other court proceedings, the Maker promises to pay all costs and expenses of collection including, but not limited to, court costs and the reasonable attorneys’ fees of the
holder hereof. 
  

			
	NVR MORTGAGE FINANCE, INC., as Maker
		
	By:	 	 /s/ William J. Inman

	Name:	 	William J. Inman
	Title:	 	President

  

 2

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00071-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00071-of-00352.parquet"}]]