MMA Mortgage Investment Corporation 621 E. Pratt St. Ste 300 Baltimore, MN 21202 Attention: Edward Feldkamp
Vice President and Treasurer
Re: Amended and Restated Credit Agreement
Ladies and Gentlemen:
Reference is made to that certain Amended and Restated Credit Agreement, dated as of November 16, 2005, as amended by Amendments dated as of December 5, 2005, December 14, 2005, March 15, 2006, July 24, 2006, November 30, 2006 and November 30, 2007 (as so amended, the “Credit Agreement”), between MMA Mortgage Investment Corporation (the “Borrower”) and U.S. Bank National Association (the “Bank”). Capitalized terms used herein and not otherwise defined shall have the meanings given in the Credit Agreement.
The Borrower has not delivered its annual audited financial statements for the fiscal year ended December 31, 2006 (the “2006 Audited Statements”), as required to be delivered pursuant to the Credit Agreement. At the request of the Borrower, and effective as provided below, the Bank waives any Default or Event of Default arising from the Borrower’s failure to deliver the 2006 Audited Statements;provided that the Borrower shall deliver the 2006 Audited Statements on or before April 30, 2008. Failure by the Borrower to deliver either the 2006 Audited Statements by April 30, 2008 shall be deemed non-compliance with Section 4.1 of the Credit Agreement and a Default under the Credit Agreement.
Please confirm the Borrower’s agreement to the terms and limitations of this waiver by signing and returning a copy to the Bank, and upon receipt by the Bank of such copy, this waiver shall become effective and shall constitute a waiver as described in Section 7.3 of the Credit Agreement.
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MMA Mortgage Investment Corporation March 14, 2008 Page 2
Very truly yours,
U.S. Bank National Association
By: /s/ Randall Baker Randall Baker Vice President
Acknowledged and Agreed as of the date above
MMA MORTGAGE INVESTMENT CORPORATION
By: /s/ Charles M. Pinckney Charles M. Pinckney Chief Operating Officer
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