Note Modification Clause Samples

Note Modification. All reference in the Note to Pledge Agreement shall mean this Pledge Agreement, and the Note is modified accordingly.

Note Modification. The terms and provisions of the interim construction financing stated in the original Note are amended and modified as follows:

Note Modification. Effective as of the Effective Date, Section 3(b) of the Note is hereby deleted and replaced by the following:

Note Modification. Upon execution hereof and delivery of the the Option Payment as described in paragraph 2 (a) hereof, the notes described in recitals A through G hereof shall be modified as follows: (a) The Term and maturity dates of each of the Notes, along with any interest payments or penalties due thereon, shall individually be extended, without penalty, until May 31, 2012. Upon the execution hereof by all Parties, BORROWER shall deliver to LENDER one million one hundred thousand (1,100,000) shares of restricted common stock in CMG Holdings Group, Inc. In the event that this transaction does not close on or before May 31, 2012, and the terms hereof are extended to July 31, 2012 as provided for in paragrapg 4 (b) herof, BORROWER shall deliver to LENDER an additional one million (1,000,000) shares of restricted common stock in CMG Holdings Group, Inc. Notwithstanding any other provisions of this agreement, said stock shall be the property of LENDER hereunder and shall not be refundable to BORROWER under any circumstances. (b) Provided that PURCHASER has complied with all terms and provisions of this agreement, the parties agree that the terms and provisions of this agreement, the closing date hereof and the maturity dates of the above referenced notes shall be extended for an additional sixty (60) day period, at the request of PURCHASER, provided that PURCHASER shall deliver to LENDER, to an account of the LENDER’s choice, the sum of $56,250.00 (FIFTY SIX THOUSAND TWO HUNDRED AND FIFTY DOLLARS). In the event that this agreement is not consummated, through the fault of LENDER or LENDER’S failure or refusal to perform as provided for in this agreement, said funds shall be returned to PURCHASER. In the event that this transaction is consummated, said funds shall be credited toward the cash Purchase Price payable by PURCHASER hereunder. (c) During the pendency of this transaction, and until such time as this agreement is either consumated or terminated due to non-performance, default or mutual agreement by or between the parties hereto, the notes described in recitals A – G above shall not be transferrable, assignable or hypothecated by LENDER and LENDER shall not otherwise encumber, pledge or sell said notes or attempt to collect on or enforce the notes.

Note Modification. The terms and provisions of the interim construction financing stated in the original Note are amended and modified in accordance with the terms and conditions of the new Note, dated the date of this Agreement, fully executed and delivered by ▇▇▇▇▇▇▇▇, and attached to and incorporated into this Agreement by reference. The terms and provisions of the original Note are cancelled and are null and void as of the date of this Agreement.

Note Modification. Effective as of the date of this Agreement, the parties agree that the terms of the Note shall be modified as follows:

Note Modification. The second paragraph of the Secured Promissory Note dated October 11, 1994 ("Note"), made by the Borrower to Coast, as amended, is hereby deleted and replaced with the following:

Note Modification. (a) In order to increase the maximum principal amount of the Note from $10,000,000 to $60,000,000, the reference to $10,000,000.00 on the first line of the first page of the Note is hereby amended to $60,000,000.00 and the first full paragraph of the first page of the Note is hereby amended and restated in its entirety as follows: FOR VALUE RECEIVED, ▇▇▇▇ Operating Partnership V, LP, a Delaware limited partnership (“Borrower”), hereby promises to pay to the order of Series C, LI.C, an Arizona limited liability company (“Lender”), at the offices of Lender located at ▇▇▇▇ ▇▇▇▇ ▇▇▇▇▇▇▇▇▇ ▇▇▇▇, ▇▇▇▇▇ ▇▇▇▇, ▇▇▇▇▇▇▇, ▇▇ ▇▇▇▇▇, the principal amount of $60,000,00, together with interest on the principal balance outstanding hereunder, from (and including) the date of disbursement until (but not including) the date of payment, at a per diem rate equal to the Stated Interest Rate specified below or, the extent applicable, the Default Interest Rate specified below, in accordance with the following terms and conditions: (b) The Note is hereby further modified to add the following legend at the top of the first page thereof: The indebtedness evidenced by this instrument is subordinated to the prior payment in full of the Lender Debt (as defined in the Subordination Agreement hereinafter referred to) pursuant to, and to the extent provided in, the Amended and Restated Subordination Agreement dated as of September ___, 2014 among ▇▇▇▇ Credit Property Trust V, Inc., ▇▇▇▇ Operating Partnership V, LP, Series C, LLC and JPMorgan Chase Bank, N.A., as administrative agent. (c) The Note is hereby modified by amending and restating the second sentence of Section 8 as follows:

Note Modification. Subject to the satisfaction of the terms and conditions set forth in Section 3 of this Amendment, the Secured Term Promissory Note, dated March 29, 2014, executed by Borrower to the order of Lender in the original principal amount of $25,000,000 (the “Existing Note”), is hereby modified to have a Maturity Date of February 1, 2017.