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1~lODIFICATION AGREEMENT
<br />7-his Modification Agreement ("f1g{cement") dated and effective as of September , 2007 (the '`Modification Date") is entered
<br />into by and behveen the City of San Marcos, Texas, a Texas municipal corporation ("Lender"), and John Q. Hanunons, as
<br />Trustee of the Revocable Trust of John Q Harnmons, Dated December 28, 1989, as amended and restated ("Borrower") and
<br />each other person who executes this .Agreement as provrded herein. Fur good and valuable consideration, the receipt and
<br />adequacy of which are hereby acknowledged, the parties agree as follows.
<br />1 Backl,round. Lender owns the Deed of Trust Note dated July l5, 2005 made by Borrower payable to the
<br />order of Lender in the principal Face amount of $1,500,000.00, with a stated final matwity date (including all prior renewals or
<br />extensions, if any) of January 31, 2026, which Deed of "Trust Note evidences a loan ("Loan") made to Borrower and is, as it
<br />may have heen renewed, extended, amended, or supplemented by one or more documents, if any, dated before the Modification
<br />Date, herein called the "Note", and the Note as modified by this Agreement is herein called the "Modified Note". The security
<br />for the Note includes (without limitation) the Deed of'frust (And Security Agreement, Assignment of Rents and Financial
<br />Statement) dated July 15, 2005, executed by Burrower, recorded in Volume 2726, Page 521, et seq., of the Otfcial Public
<br />Records of Real Property of Hays County, Texas, as it may have been renewed, extended, amended or supplemented by one or
<br />more doctuents, if any, dated before the Modification Date, reference being here made thereto and the recording thereof for all
<br />purposes (the "Deed of Trust"). Any and all documents evidencing, securing or pertaining to the Loan, as they may have been or
<br />may be amended, modified, restated, replaced and supplemented from time to time are herein called the "Loan Documents".
<br />Modification of Loan Documents. Borrower and Lender agree to modify the Lunn Documents as follows:
<br />2.1 Note. JQH-San Marcos Development, LLC, a Missouri limited liability company ("Additional Obligor"), is
<br />hereby added as an additional maker of the Modified Note.
<br />2.2 Deed of "frusl. Paragraph L l of the Decd of Trust is hereby amended in its entirety to read as follows:
<br />"l.l This instrument, and all rights, remedies, powers, privileges, and benefits (collectively,
<br />"Rishts") and all titles, interests, liens, and security interests (collectively, "Liens"} created hereby or arising
<br />by vu•tue hereof, are given to secure payment and performance of the following indebtedness, liabilities, and
<br />obligations (the "Obligation");
<br />(a) The `Loan," as the term is defined in the Chapter 380 Economic Development
<br />Grant and Loan Agreement (as the same may have been or hereafter be renewed, exxtendcd, amended,
<br />supplemented, or modified, the "Loan A regiment') dated July 15, 2005 between Grantor and
<br />Mortgagee, including, without limitation, the indebtedness evidenced by that certain Deed of Trust
<br />Note (the "Hole") of even date therewith, executed by Grantor, additionally assumed by JQH-San
<br />Marcos Development, LLC, a Missouri limited liability company ("JQH-San Marcos"} and payable
<br />to the order of Mortgagee, in the original principal amount of One Million Five Hundred Thousand
<br />Dollars ($1,500,000.00) bearing interest as therein provided with interest and principal being payable
<br />as therein provided;
<br />(b) all indebtedness, liabilities, and obligations of Grantor arising under this
<br />instrument;
<br />(c) all indebtedness, liabilrties and obligations of Grantor or JQH-San Marcos arising
<br />under the Loan Agreement, any of the other Luan Documents (as such term is defined in the Loan
<br />Agreement), or any other a~eement between Grantor, and/or JQII-San Marcos and Holder, or
<br />among Grantor and/or JQII-San Marcos, Holder and any other party ur parties, pertaining to the
<br />repayment or use of the proceeds of the loan evidenced by the Note and Loan Agreernenl;
<br />(d) all loads and advances which Mortgagee may hereafter make to Grantor and/or
<br />JQII-San Marcos and all other and additional mdebtedness, liabilities, and obligations of every kind
<br />and character of Grantor, now or hereafter existing in Favor of Morgagee, regardless of whether such
<br />obligations are direct, indirect, primary, secondary, joint, several, Joint and several, liquidated,
<br />99514.2
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