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7.1.1. - Page 4 <br />And replacing that first sentence with a new first sentence (as described below): <br />"FOR VALUE RECEIVED, SHORES CHILDCARE, LLC, a California <br />limited liability company (collectively "Borrower") promise(s) to pay to the order of THE CITY <br />OF REDWOOD CITY, a municipal corporation ("Lender"), at 1017 Middlefield Road, <br />Redwood City, California, or at such other place as the holder of this Note may from time to time <br />designate in writing, the principal sum of three million two hundred thousand dollars <br />($3,200,000) together with interest from the Close of Escrow in connection with Borrower's <br />acquisition of the real property described in the Leasehold Deed of Trust securing this Note (the <br />"Delivery Date"), computed on the outstanding principal balance hereof at an interest rate per <br />annum equal to the Local Agency Investment Fund ("LAIF") apportionment rate as published <br />from time to time by the Treasurer of the State of California applicable as of the immediately <br />preceding calendar quarter plus 250 basis points to and including the Maturity Date hereof (as <br />hereinafter defined). Borrower shall pay the outstanding balance of the Note at the LAIF plus <br />250 basis points interest rate beginning with the payment due on October 1, 2013 and continuing <br />until the Note balance is paid off." <br />2. Subject to the foregoing amendment, the Note remains in full force and <br />effect. <br />IN WITNESS WHEREOF, the Borrower has executed this First Amendment to <br />Note Secured by Deed of Trust on the day and year first hereinabove written. <br />V-111 9 04 <br />Shores Childcare, LLC, <br />a California li ited 'ability compa <br />By: <br />Max A. Keech <br />Its: Manager <br />ATTY/AGR/2013.159/FIRST AMENDMENT TO NOTE SECURED BY DEED OF TRUST SHORES CHILDCARE <br />REV: 09-09-13 MLG <br />Page 2 of 2 <br />