SEC Contract Filing

Filing Date: 2021-03-12

Document Content:
<DOCUMENT>
<TYPE>EX-10.18
<SEQUENCE>11
<FILENAME>e2494_ex10-18.htm
<DESCRIPTION>EXHIBIT 10.18
<TEXT>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: right"><B>Exhibit 10.18</B><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B></B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Certain
portions of this document have been omitted pursuant to Item 601(b)(10) of Regulation S-K and, where applicable, have been
marked with &ldquo;[***]&rdquo; to indicate where omissions have been made. The marked information has been omitted because it
is (i) not material and (ii) would likely cause competitive harm to the registrant if publicly disclosed.&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">[Note:
Exhibits and schedules have been omitted pursuant to Item 601(a)(5) of Regulation S-K.]&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>SECOND
AMENDMENT TO CREDIT AGREEMENT</B></FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">This
SECOND AMENDMENT TO CREDIT AGREEMENT, dated as of October 27, 2020 (this &#147;<U>Amendment</U>&#148;), is made and entered
into by and among <B>LANDSEA HOMES- WAB 2 LLC</B>, a&nbsp;Delaware limited liability company (the
&#147;<U>Borrower</U>&#148;), <B>WESTERN ALLIANCE BANK</B>, an Arizona corporation (&#147;<U>WAB</U>&#148;), as
Administrative Agent (in such capacity, the &#147;<U>Administrative Agent</U>&#148;), the lenders party to the Credit
Agreement, and the other Loan Parties as of the date hereof.</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">RECITALS:</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">WHEREAS,
reference is made to the Credit Agreement dated as of January 15, 2020, by and among the Borrower, the lenders from time to time
party thereto and the Administrative Agent, as amended by the First Amendment to Credit Agreement dated as of May 15, 2020 (and
as may be further amended, supplemented or otherwise modified to the date hereof, the &#147;<U>Credit Agreement</U>&#148;);</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">WHEREAS,
it is intended that (a) the Borrower will obtain the Incremental Commitments (as defined below) and (b) the proceeds of the
borrowings under the Incremental Commitments will be used (i) by Borrower and its Subsidiaries as provided in the Credit
Agreement and (ii) to pay fees and expenses incurred in connection with the foregoing (the transactions described
in this paragraph, collectively, the &#147;<U>Transactions</U>&#148;);</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">WHEREAS,
subject to the terms and conditions of the Credit Agreement, and pursuant to <U>Section 2.13</U> of the Credit Agreement, the
Borrower has requested that (a) WAB provide additional Commitments for Revolving Loans in the aggregate principal amount of $
15,000,000 (such transaction, the &#147;<U>Revolving Commitment Increase</U>&#148;), and (b) the Credit Agreement be amended
in the manner provided for herein; and</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">WHEREAS,
WAB is willing to increase its Commitment to the Borrower on the Amendment Effective Date (as defined below), and the parties
hereto wish to amend the Credit Agreement on the terms and subject to the conditions set forth herein and in the Credit Agreement.</FONT></P>

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