SEC Contract Filing

Filing Date: 2016-05-09

Document Content:
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<TYPE>EX-10.2
<SEQUENCE>2
<FILENAME>ex10-2.htm
<DESCRIPTION>FIRST AMENDMENT TO LOAN AGREEMENT
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<P STYLE="margin: 0; text-align: left"><A HREF="grbk-8k_050316.htm">Green Brick Partners, Inc. 8-K</A></P>

<P STYLE="margin: 0; text-align: right">&nbsp;</P>

<P STYLE="margin: 0; text-align: right">Exhibit 10.2</P>

<P STYLE="font: 10pt Times New Roman; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><U>FIRST AMENDMENT TO</U></P>

<P STYLE="font: 10pt Times New Roman; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><U>LOAN AGREEMENT</U></P>

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

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0; text-align: justify; text-indent: 0.5in">This First Amendment to Loan Agreement
(&ldquo;<U>Amendment</U>&rdquo;) is entered into by and between <B>INWOOD NATIONAL BANK</B> (&ldquo;<U>Lender</U>&rdquo;), <B>GREEN
BRICK PARTNERS, INC., a Texas corporation</B> (&ldquo;<U>Borrower</U>&rdquo;), and <B>JBGL BUILDER FINANCE, LLC, JBGL MUSTANG,
LLC, JBGL CHATEAU, LLC, JBGL EXCHANGE, LLC, JOHNS CREEK 206, LLC, and GRBK FRISCO LLC</B> (&ldquo;<U>GRBK Frisco</U>&rdquo;) (collectively,
&ldquo;<U>Guarantor</U>&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0; text-align: justify; text-indent: 0.5in">WHEREAS, Lender, Borrower, and JBGL
Builder Finance, LLC, JBGL Mustang, LLC, JBGL Chateau, LLC, JBGL Exchange, LLC, and Johns Creek 206, LLC, as guarantors, previously
entered into that certain Loan Agreement, dated effective as of July 30, 2015, as subsequently amended herein (&ldquo;<U>Loan Agreement</U>&rdquo;),
regarding a revolving line of credit in the stated principal amount of $50,000,000.00, as more fully described in the Loan Agreement
and Loan Documents; and</P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0; text-align: justify; text-indent: 0.5in">WHEREAS, Lender, Borrower, and Guarantor
desire to amend and reaffirm the Loan Agreement for purposes of entering a loan transaction related to Frisco Springs, Texas, all
in accordance with the terms of the Loan Agreement, as may be amended herein.</P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0; text-align: justify; text-indent: 0.5in">NOW, THEREFORE, in consideration
of the mutual covenants and agreements contained herein and other good and valuable consideration, the receipt and sufficiency
of which are hereby acknowledged, Lender, Borrower, and Guarantor, each agree as follows:</P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman; margin-top: 0; margin-bottom: 0; margin-left: 0in; text-indent: 0.5in; text-align: justify">1.&#9;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>Definitions.
</B>The following definitions shall supersede the corresponding defined terms in the original Loan Agreement, or shall be added
as a defined term to the Loan Agreement, as applicable.</P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman; margin-top: 0; margin-bottom: 0; margin-left: 0in; text-indent: 1in; text-align: justify">a.&#9;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&ldquo;<B>Grantor</B>&rdquo;
or &ldquo;<B>Grantors</B>&rdquo; shall include GRBK Frisco.</P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman; margin-top: 0; margin-bottom: 0; margin-left: 0in; text-indent: 1in; text-align: justify">b.&#9;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&ldquo;<B>Guarantor</B>&rdquo;
or &ldquo;<B>Guarantors</B>&rdquo; shall include GRBK Frisco.</P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman; margin-top: 0; margin-bottom: 0; margin-left: 0in; text-indent: 1in; text-align: justify">c.&#9;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>&ldquo;Maturity
Date&rdquo;</B> means May 1, 2019.</P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">d.&#9;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>&ldquo;Non-Usage
Fee&rdquo;</B>. Borrower shall pay to Lender on or before each August 1 during the term of the Loan, beginning August 1, 2017,
a non-usage fee equal to one-quarter of one percent (0.25%) of the average unfunded amount of the Maximum Commitment over a trailing
twelve (12) month period. The foregoing shall be tested as of July 30 of each year during the term of the Loan, beginning July
30, 2017.</P>

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