LOAN ASSUMPTION/MODIFICATION AGREEMENT (Master Line)Loan Assumption/Modification Agreement • March 1st, 2004 • Orleans Homebuilders Inc • Operative builders • North Carolina
THIS LOAN ASSUMPTION/MODIFICATION AGREEMENT (the “Agreement”) entered into this February 26, 2001, by PARKER & LANCASTER CORPORATION, a Virginia corporation, (the “Borrower”), PARKER LANCASTER & ORLEANS, INC., a Delaware corporation, (the “New Borrower”), ORLEANS HOMEBUILDERS, INC., a Delaware Corporation, (the “Guarantor”), TROY A. GAMBRIL, as Trustee, (the “Trustee”), and SOUTHTRUST BANK, a state banking corporation, (the “Lender”).
