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NOW, THEREFORE, in consideration of the above, the parties agree as follows: <br /> SECTION 1. DEFINITIONS. In this Agreement, the terms defined in the Original Loan <br /> Agreement shall have the same meanings when used herein, except as otherwise defined herein or <br /> unless the context or use thereof indicates another or different meaning or intent. In addition, the <br /> following terms shall have the following respective meanings: <br /> "Agreement" means this Bond and Loan Modification Agreement, dated as of October 1, <br /> 2014, among the Issuer, the Corporation and the Lender. <br /> "Loan Agreement" means the Original Loan Agreement as amended and supplemented by <br /> this Agreement, and as further amended or supplemented in accordance with the terms thereof. <br /> "Original Loan Agreement" means the Loan Agreement, dated as of September 1, 2010, <br /> between the Issuer and the Corporation, as originally executed. <br /> "Owner" means Family Wellness,L.L.C., a North Dakota limited liability company,f/k/a/ <br /> Sanford YMCA Family Wellness, L.L.C, and its successors and assigns and any resulting or <br /> transferree entity. <br /> SECTION 2. REPRESENTATIONS BY THE ISSUER. The Issuer confirms as of the date hereof <br /> the representations contained in Section 2.01 of the Original Loan Agreement and represents as of <br /> the date of execution of this Agreement that the Issuer is not in default under the Original Loan <br /> Agreement. <br /> SECTION 3. REPRESENTATIONS BY THE CORPORATION. The Corporation confirms as <br /> of the date hereof the representations contained in Section 2.02 of the Original Loan Agreement and <br /> makes the following representations as of the date of execution of this Agreement: <br /> (a) The Corporation is not in default under the Original Loan Agreement. <br /> (b) The Corporation has reviewed this Agreement and consents to the <br /> modification of the interest rate on the Bond. <br /> (c) The Corporation has power to enter into and perform its obligations under the <br /> Loan Agreement, and by proper corporate action has authorized the execution and delivery <br /> of this Agreement. <br /> (d) The execution and delivery of this Agreement, the consummation of the <br /> transactions contemplated hereby,and the fulfillment of the terms and conditions hereof do <br /> not and will not conflict with or result in a breach of any of the terms or conditions of the <br /> Articles of Incorporation or Bylaws of the Corporation or of any corporate restriction or of <br /> any agreement or instrument to which the Corporation is now a party,and do not and will not <br /> -2- <br />