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Ex. 10.30
Amendment Number One to the Management Agreement
Between
Hanover Capital Mortgage Holdings, Inc.
And
Hanover Capital Partners, Ltd.
This Amendment is made this 30th day of September, 1999, between Hanover
Capital Mortgage Holdings, Inc., having an address at 00 Xxxx Xxxxxx, Xxxxx
0000, Xxx Xxxx, Xxx Xxxx, 00000 (the "Company"), and Hanover Capital Partners
Ltd., having an address at 000 Xxxxxxxxx Xxxxx, Xxxxx 000, Xxxxxx, Xxx Xxxxxx,
00000 (the "Manager"), to the Management Agreement, dated as of January 1, 1998
between the Company and the Manager (the "Agreement"). Capitalized terms used
but not otherwise defined herein shall have the meanings assigned to such terms
in the Agreement.
1. Effective as of July 1, 1999, Section 7.1 of the Agreement is hereby is
hereby deleted in its entirety and replaced with the following:
"7.1 EXPENSES OF THE MANAGER. The Company shall pay the Manager for each
month an amount equal to one-hundred (100%) percent of the following
expenses apportioned to providing services under this Agreement to the
Company (as reasonably determined by the Manager) related to: rent,
telephone, utilities, office furniture, equipment, machinery, and other
office expenses of the Manager and/or its Affiliates required for the
Company's day-to-day operations, including bookkeeping, clerical and
back-office services provided by the Manager or its Affiliates."
2. This amendment shall be construed in accordance with the laws of the State of
New York and the obligations, rights, and remedies of the parties hereunder
shall be determined in accordance with such laws without regard to conflict of
laws doctrine applied in such state.
3. This amendment may be executed in any number of counterparts, each of which
shall constitute an original and all of which, taken together, shall constitute
one instrument.
4. Except as amended above, the Agreement shall continue in full force and
effect in accordance with its terms.
[Signature Page follows]
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IN WITNESS WHEREOF, the Company and the Manager have caused this amendment to be
executed and delivered by their duly authorized officers as of the day and year
first above written.
HANOVER CAPITAL MORTGAGE HOLDINGS, INC.
(Company)
By:
Name: Xxxxx X. Xxxxxxx
Title: Sr. Managing Director
HANOVER CAPITAL PARTNERS LTD.
(Manager)
By:
Name: Xxxxx X. Xxxxxxx
Title: Sr. Managing Director
