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<SEC-DOCUMENT>0000825324-08-000015.txt : 20080702
<SEC-HEADER>0000825324-08-000015.hdr.sgml : 20080702
<ACCEPTANCE-DATETIME>20080702141737
ACCESSION NUMBER:		0000825324-08-000015
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		3
CONFORMED PERIOD OF REPORT:	20080630
ITEM INFORMATION:		Entry into a Material Definitive Agreement
ITEM INFORMATION:		Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant
FILED AS OF DATE:		20080702
DATE AS OF CHANGE:		20080702

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			GOOD TIMES RESTAURANTS INC
		CENTRAL INDEX KEY:			0000825324
		STANDARD INDUSTRIAL CLASSIFICATION:	RETAIL-EATING PLACES [5812]
		IRS NUMBER:				841133368
		STATE OF INCORPORATION:			NV
		FISCAL YEAR END:			0930

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-18590
		FILM NUMBER:		08933188

	BUSINESS ADDRESS:	
		STREET 1:		601 CORPORATE CIRCLE
		CITY:			GOLDEN
		STATE:			CO
		ZIP:			80401
		BUSINESS PHONE:		3033841400

	MAIL ADDRESS:	
		STREET 1:		601 CORPORATE CIRCLE
		CITY:			GOLDEN
		STATE:			CO
		ZIP:			80401

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	PARAMOUNT VENTURES INC
		DATE OF NAME CHANGE:	19900205
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>pfgi8kamendextend1.htm
<TEXT>
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<p class=MsoTitle><b>&nbsp;</b></p>

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<p class=MsoTitle><b>&nbsp;</b></p>

<p class=MsoTitle><b>UNITED STATES</b></p>

<p class=MsoNormal align=center style='text-align:center'><b>SECURITIES AND
EXCHANGE COMMISSION</b></p>

<p class=MsoNormal align=center style='text-align:center'>Washington, D.C. 20549</p>



<p class=MsoNormal align=center style='text-align:center'><b>FORM 8-K</b></p>

<p class=MsoNormal align=center style='text-align:center'><b>&nbsp;</b></p>

<p class=MsoNormal align=center style='text-align:center'><b>CURRENT REPORT</b></p>

<p class=MsoNormal><b>&nbsp;</b></p>

<h3>Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934</h3>



<p class=MsoNormal align=center style='text-align:center'>Date of Report (Date
of earliest event reported)</p>

<p class=MsoNormal align=center style='text-align:center'>July 2, 2008</p>



<p class=MsoNormal align=center style='text-align:center'><b>Good Times
Restaurants Inc.</b></p>

<p class=MsoNormal align=center style='text-align:center'>(Exact name of
registrant as specified in its charter)</p>



<p class=MsoNormal>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Nevada&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 000-18590&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 84-1133368</p>

<p class=MsoNormal> (State or other jurisdiction&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Commission&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (IRS
Employer</p>

<p class=MsoNormal>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; of incorporation)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; File
Number)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Identification No.)</p>

<p class=MsoNormal>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </p>



<p class=MsoNormal align=center style='text-align:center'>601 Corporate Circle,
  Golden, Colorado 80401</p>

<p class=MsoNormal align=center style='text-align:center'>(Address of principal
executive offices)&nbsp;&nbsp; (Zip Code)</p>



<p class=MsoNormal align=center style='text-align:center'>Registrant's
telephone number, including area code: (303) 384-1400</p>



<p class=MsoNormal align=center style='text-align:center'>Not applicable</p>

<p class=MsoNormal align=center style='text-align:center'>(Former name or
former address, if changed since last report.)</p>





<p class=MsoNormal>Check the appropriate box below if the Form 8-K filing is
intended to simultaneously satisfy the filing obligation of the registrant
under any of the following provisions (see General Instruction A.2.):<br>
<br>
[_] Written communications pursuant to Rule 425 under the Securities Act (17
CFR 230.425)<br>
<br>
[_] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
240.14a-12)<br>
<br>
[_] Pre-commencement communications pursuant to Rule 14d-2(b) under the
Exchange Act (17 CFR 240.14d-2(b))<br>
<br>
[_] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange
Act (17 CFR 240.13e-4(c))</p>

<p class=MsoFooter>DMWEST
#6498711 v1</p>

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<p class=00Normal><b>Item 1.01&nbsp;&nbsp;&nbsp; Entry into a Material Definitive Agreement.</b></p>

<p class=00BodyText5>On July 1, 2008, Good Times Restaurants Inc. (the
&quot;Company&quot;) and Good Times Drive Thru Inc., a wholly owned subsidiary of the
Company, signed an amended and restated loan agreement and an amended and
restated promissory note with PFGI&nbsp;II, LLC (the &quot;Lender&quot;) which amends the
two previous promissory notes of $1,000,000 each first established on August 7,
2006 and amended on March 30, 2007.&nbsp; The amended loan agreement and promissory
note increases the total line of credit available to the Company to
$2,500,000.&nbsp; &nbsp;Details about the loan agreement and the line of credit were
included in a report on Form 8-K filed with the Securities and Exchange
Commission on August 7, 2006 and the amended loan agreement and the line of
credit were included in a report on Form 8-K filed with the Securities and
Exchange Commission on March 23, 2007, and are hereby incorporated by
reference.&nbsp; Proceeds from the line of credit will be used for development of
new restaurants.</p>

<p class=00BodyText5>The amended and restated promissory note provides that
interest on amounts borrowed under the line of credit will be payable monthly
at the rate of the prime rate plus two percent with a minimum interest rate of
8%.&nbsp; All unpaid principal and accrued interest will be due and payable on July
10, 2009.&nbsp; Borrowings under the agreement are secured by the Company's
leasehold estates and business assets with respect to certain of the Company's
restaurants located in Boulder, Adams, Jefferson and Larimer counties in
Colorado and is further secured by a first deed of trust on new restaurants to
be developed if the outstanding principal balance on the line of credit exceeds
$1,500,000 at any time.</p>

<p class=00BodyText5>A copy of the amended and restated loan agreement is filed
as Exhibit 10.1 and the amended and restated promissory note is filed as
Exhibit&nbsp;10.2 to this report.&nbsp; The foregoing brief description of the
promissory note is qualified in its entirety by reference to the complete text
of the promissory note filed as an exhibit to this report.</p>

<p class=00Normal style='margin-left:58.5pt;text-indent:-58.5pt'><b>Item 2.03&nbsp;&nbsp;&nbsp; Creation
of a Direct Financial Obligation or an Obligation Under an Off&#8209;Balance
Sheet Arrangement.</b></p>

<p class=00BodyText5>Please see the discussion under Item&nbsp;1.01 above,
which is hereby incorporated by reference into this Item&nbsp;2.03.</p>

<p class=00Normal><b>Item 9.01&nbsp;&nbsp;&nbsp; Financial Statements and Exhibits.</b></p>

<p class=00BodyText5>(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Exhibits.&nbsp; The following exhibits are filed as
part of this report:</p>

<table class=MsoNormalTable border=0 cellspacing=0 cellpadding=0
 style='margin-left:72.9pt;border-collapse:collapse'>
 <tr>
  <td width=102 valign=bottom style='width:76.5pt;padding:0in 5.4pt 0in 5.4pt'>
  <p class=00BodyText5 style='text-indent:0in'><u>Exhibit No.</u></p>
  </td>
  <td width=439 valign=bottom style='width:329.4pt;padding:0in 5.4pt 0in 5.4pt'>
  <p class=00BodyText5 style='text-indent:0in'><u>Description</u></p>
  </td>
 </tr>
 <tr>
  <td width=102 valign=top style='width:76.5pt;padding:0in 5.4pt 0in 5.4pt'>
  <p class=00BodyText5 style='text-indent:0in'>10.1</p>
  </td>
  <td width=439 valign=top style='width:329.4pt;padding:0in 5.4pt 0in 5.4pt'>
  <p class=00BodyText5 style='text-indent:0in'>Amended and Restated Loan
  Agreement dated as of July 1, 2008 among PFGI&nbsp;II, LLC, Good Times Drive
  Thru, Inc. and Good Times Restaurants Inc. (incorporated by reference to
  Exhibit 10.1 to the Company's report on Form 8-K filed with the Commission on
  July 2, 2008).</p>
  </td>
 </tr>
 <tr>
  <td width=102 valign=top style='width:76.5pt;padding:0in 5.4pt 0in 5.4pt'>
  <p class=00BodyText5 style='text-indent:0in'>10.2</p>
  </td>
  <td width=439 valign=top style='width:329.4pt;padding:0in 5.4pt 0in 5.4pt'>
  <p class=00BodyText5 style='text-indent:0in'>Promissory Note dated July 1,
  2008 by Good Times Drive Thru, Inc. and Good Times Restaurants Inc. payable
  to PFGI II, LLC</p>
  </td>
 </tr>
</table>



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<p class=MsoNormal align=center style='text-align:center'><b>SIGNATURES</b></p>



<p class=00BodyText5>Pursuant to the requirements of the Securities Exchange
Act of 1934, the registrant has duly caused this report to be signed on its
behalf by the undersigned hereunto duly authorized.</p>





<p class=MsoNormal>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; GOOD
TIMES RESTAURANTS INC.</p>





<p class=MsoNormal>Date:&nbsp; July 2, 2008&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; By:
<u>/s/ Boyd E. Hoback</u></p>

<p class=MsoNormal>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Boyd
E. Hoback</p>

<p class=MsoNormal>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; President
and Chief Executive Officer</p>

<div>

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</DOCUMENT>
<DOCUMENT>
<TYPE>EX-1
<SEQUENCE>2
<FILENAME>amendedloanagree1.htm
<TEXT>
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<head>
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<title>BAF Single Site Loan Agreement</title>



</head>

<body lang=EN-US link=blue vlink=purple>



<h3>&nbsp;</h3>

<h3>&nbsp;</h3>









<h3>AMENDED AND RESTATED LOAN
AGREEMENT</h3>

<p class=MsoBodyText align=center style='text-align:center;text-indent:0in'>(Revolving
Line of Credit)</p>

<p class=MsoBodyText>THIS <b>AMENDED AND RESTATED LOAN AGREEMENT </b>(as it may
hereafter be amended, supplemented, extended or renewed from time to time, the
&quot;<b><i>Agreement</i></b>&quot;) is made as of July 1, 2008 by and among PFGI II, LLC.,
a Colorado limited liability company, (the &quot;<b><i>Lender</i></b>&quot;), GOOD TIMES
DRIVE THRU, INC., a Colorado corporation (&quot;<b><i>Borrower</i></b>&quot;) and GOOD
TIMES RESTAURANTS INC., a Nevada corporation (&quot;<b><i>Co-Maker</i></b>&quot;).</p>

<p class=MsoBodyText><b><i>For valuable
consIderation</i></b>, the parties agree as follows:</p>

<p class=ArticleL1 style='margin-left:0in;text-indent:0in'><b>ARTICLE 1</b><br>
DEFINITIONS</p>

<p class=ArticleL2 style='margin-left:0in'>1.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<u>Definitions</u>.&nbsp; The following terms shall have the following
meanings:</p>

<p class=MsoBodyText>&nbsp;&quot;<b><i>Affiliate</i></b>&quot; means, with respect to a
Person, any other Person directly or indirectly controlling, controlled by or
under common control with such Person.&nbsp; For purposes of this definition and the
definition of Change of Control, &quot;<b><i>control</i></b>&quot; and its correlative
terms means the possession of either (a) beneficial ownership of, or the right
and power to vote, 30% or more of any class of voting securities (or other
ownership interests) of the controlled Person; or (b) the possession, directly
or indirectly, the power to direct or cause the direction of the management or
policies of the controlled Person, whether through ownership of stock, by
contract or otherwise.</p>

<p class=MsoBodyText>&quot;<b><i>Applicable Laws</i></b>&quot; means the following, in
effect now or in the future:&nbsp; (a) all statutes, regulations, rules, ordinances,
codes, licenses, permits, orders, approvals, and governmental guidance of each
Governmental Authority having jurisdiction over any of the Borrower Parties, the
Premises, or the transactions contemplated by this Agreement.</p>

<p class=MsoBodyText><b><i>&quot;Bankruptcy Event&quot;</i></b> means any of the
following:&nbsp; Borrower or any other Borrower Party (a) is unable or admits in
writing such Person's inability to pay its monetary obligations as they become due;
(b) makes a general assignment for the benefit of creditors; (c) applies for,
consents to, or acquiesces in, the appointment of a trustee, receiver, or other
custodian for such Person or any of such Person's assets, or in the absence of
such application, consent, or acquiescence, a trustee, receiver, or other
custodian is appointed for such Person or any of such Person's assets and such
appointment is not discharged within 60 days; (d) commences any case under the
Title 11 of the United&nbsp;States Code, 11&nbsp;U.S.C.&nbsp; Sec.&nbsp; 101
et&nbsp;seq., as amended (the &quot;<b><i>Bankruptcy Code</i></b>&quot;) or under any
other bankruptcy arrangement, reorganization, receivership, custodianship, or
similar federal, state, or foreign law; (e) has commenced against it any case
under the Bankruptcy Code or under any other bankruptcy arrangement,
reorganization, receivership, custodianship, or similar proceeding under any
federal, state, or foreign law and with respect to any such case or proceeding,
such case or proceeding is not dismissed with prejudice within 60 days of the
filing thereof; or (f) has all or any part of its property attached, levied
upon, or otherwise seized by legal process, and such attachment, levy, or
seizure is not quashed, stayed, or released within 30 days of the date thereof.</p>

<p class=MsoBodyText>&quot;<b><i>Borrower Parties</i></b>&quot; means Borrower, Co-Maker
and their respective Affiliates.</p>

<p class=MsoFooter style='line-height:10.0pt'>8789351.2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </p>

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<p class=MsoBodyText>&quot;<b><i>Capital Lease</i></b>&quot; means any lease that would,
in conformity with GAAP, be required to be accounted for as a capital lease on
the balance sheet of Borrower.</p>

<p class=MsoBodyText>&quot;<b><i>Change of Control</i></b>&quot; means a change in
control of any of the Borrower Parties, voluntary or involuntary, including a
change in control resulting from direct or indirect transfers of beneficial
ownership of, or the right and power to vote stock or other ownership
interests, whether in one or a series of transactions.</p>

<p class=MsoBodyText>&quot;<b><i>Collateral</i></b>&quot; means all of Borrower's right,
title and interest in (a) the leasehold estate in each Premises pursuant to the
Leases and (b) the business assets of Borrower located at each Premises, as
described in the Deeds of Trust and Security Agreement.&nbsp; </p>

<p class=MsoBodyText>&quot;<b><i>Commitment Fee</i></b>&quot; means $25,000.</p>

<p class=MsoBodyText>&quot;<b><i>Debt</i></b>&quot; means the sum of:&nbsp; (a) obligations
for borrowed money or evidenced by bonds, debentures, notes, acceptances, or
similar instruments or letters of credit (or reimbursement agreements in
respect thereof); (b) obligations representing the deferred purchase price of
property or services; (c) obligations with respect to Capital Leases; and (d)
any other obligation for borrowed money or other financial accommodation
(direct or contingent), whether evidenced by a note, instrument, guaranty or
other writing and whether contingent, unliquidated or disputed.</p>

<p class=MsoBodyText>&quot;<b><i>Deed of Trust</i></b>&quot; or &quot;<b><i>Deeds of Trust</i></b>&quot;<i>
</i>means individually and collectively each Leasehold Deed of Trust and Assignment
of Rents of even date herewith, and any future Leasehold Deed of Trust and
Assignment of Rents provided as additional Collateral for the Loan pursuant to
the Note (as amended, supplemented, extended, restated or otherwise amended
from time to time) covering the Premises and executed by Borrower in connection
with the Loan.</p>

<p class=MsoBodyText>&quot;<b><i>Default Rate</i></b>&quot; means the &quot;Default Rate&quot;
specified in the Note.</p>

<p class=MsoBodyText>&quot;<b><i>Excluded Losses</i></b>&quot; means Losses suffered by
an Indemnified Party to the extent directly arising out of the gross negligence
or willful misconduct of such Indemnified Party; <b><i>however</i></b>, that
the term &quot;gross negligence&quot; shall not include gross negligence imputed as a
matter of law to any of the Indemnified Parties solely by reason of Lender's
interest in the Collateral or Lender's failure to act in respect of matters
which are or were the obligation of Borrower.</p>

<p class=MsoBodyText>&quot;<b><i>GAAP</i></b>&quot; means generally accepted accounting
principles consistently applied.</p>

<p class=MsoBodyText>&quot;<b><i>Governmental Authority</i></b>&quot; means any
governmental authority, agency, department, commission, bureau, board,
instrumentality, court or quasi-governmental authority.</p>

<p class=MsoBodyText>&quot;<b><i>Indemnified Parties</i></b>&quot; means Lender, its
Affiliates, and their respective directors, officers, and shareholders;
together with the employees, agents, servants, representatives, contractors,
subcontractors, subsidiaries, successors and assigns of any of the foregoing
and including any successors by merger, consolidation or acquisition of all or
a substantial portion of the assets and business of Lender and further
including any Person who acquires all or any portion of Lender's interests in
the Note, the Loan, or its rights under any of the Loan Documents, including
servicing rights.&nbsp; </p>

<p class=MsoFooter style='line-height:10.0pt'>8789351.2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </p>

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<p class=MsoBodyText>&quot;<b><i>Improvements</i></b>&quot; means any and all buildings
and other improvements at any time located on any Premises, including all items
of property that are now or hereafter attached or affixed to such buildings or
other improvements (or any portion thereof), such as HVAC systems, plumbing and
electrical systems, telephone, CATV, and computer wiring, fans, air ducts,
hoods, vents, built-in sinks, built-in countertops, sign poles or lighting
poles, and any other items of equipment, machinery or other property that are
so attached or affixed to the buildings or other improvements that the removal
of such items would materially damage or substantially destroy either such
items or the building or other improvement (or portion thereof) to which such
items are affixed, all of which, together with the buildings and improvements
are intended and agreed to be fixtures and part of the real property.</p>

<p class=MsoBodyText>&quot;<b><i>Lease</i></b>&quot; or &quot;<b><i>Leases</i></b>&quot; means
individually and collectively (i) the ground lease between Borrower and McWhinney
Enterprises relating to the Loveland Premises (described below), (ii) the
ground lease between Borrower and Jordan Perlmutter relating to the Thornton
Premises (described below), (iii) the ground lease between Borrower and Brookhill
V Acquisition, LLC relating to the Wadsworth Premises (described below), (iv)
the ground lease between Borrower and Dwaine Richter relating to the Youngfield
Premises (described below), (v) the lease between Borrower and Walter Morris relating
to the Boulder Premises (described below) and (vi) the lease between Borrower
and Debra Robbins and Pamela Overmiller relating to the Ft. Collins Premises
(described below) and (v) any other lease executed by Borrower which may become
additional Collateral for the Loan pursuant to a Deed of Trust together with
all amendments, extensions, supplements, and exhibits to such leases, as in
effect on the Closing and in the future.&nbsp; The Leases are more particularly
described on <b><i>Exhibit B</i></b> attached hereto.</p>

<p class=MsoBodyText>&quot;<b><i>Loan</i></b>&quot; means the financing provided by
Lender to Borrower in accordance with this Agreement and the other Loan
Documents.</p>

<p class=MsoBodyText>&quot;<b><i>Loan Documents</i></b>&quot; means, collectively, this
Agreement, the Note, the Deeds of Trust, the Security Agreement and all other
financing statements, agreements, documents, and instruments now or in the
future evidencing, guarantying or securing the Obligations, all as they may be
amended, supplemented, extended or renewed from time to time.</p>

<p class=MsoBodyText>&quot;<b><i>Losses</i></b>&quot; means all claims, suits,
liabilities (including strict liabilities), actions, proceedings, obligations,
debts, damages, losses, costs, expenses, diminutions in value, fines,
penalties, charges, fees, judgments, awards, amounts paid in settlement, and
damages of whatever kind or nature (including reasonable attorneys' fees, court
costs and other costs of defense).</p>

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<p class=MsoBodyText>&quot;<b><i>Material Adverse Change</i></b>&quot; means the
occurrence of any other event, circumstance, or condition with respect to Borrower,
that, alone or when taken with other events or conditions occurring or existing
concurrently with such change, fact, event, circumstance or condition,
materially and adversely affects or is reasonably expected to materially and
adversely affect (i) the ability to perform the Obligations by, or the
likelihood of performance of the Obligations by Borrower or any other Person
(other than Lender and its Affiliates) that is obligated with respect to the
Obligations; (ii) the legality, validity, or binding nature of any of the Obligations
or the ability of Lender to enforce its rights or remedies under any Loan
Document; (iii) Borrower's rights in the Collateral or in any other material
asset of Borrower; or (iv) any lien or encumbrance, or the priority of the
same, securing any of the Obligations.&nbsp; The occurrence of any Bankruptcy Event
is also a Material Adverse Change.</p>

<p class=MsoBodyText>&quot;<b><i>Note</i></b>&quot; means the Amended and Restated Promissory
Note of even date herewith executed by Borrower and Co-Maker in favor of Lender
evidencing the Loan, as amended, supplemented, restated, substituted or renewed
from time to time.</p>

<p class=MsoBodyText>&quot;<b><i>Obligations</i></b>&quot; means all unpaid principal,
accrued and unpaid interest, prepayment premiums and fees, and all other
indebtedness due under the Note and all other accrued and unpaid fees, expenses,
reimbursements, indemnities, and other obligations of Borrower and all other Borrower
Parties to Lender or any of the Indemnified Parties arising under any of the
Loan Documents, the Related Agreements, and any renewals, extensions, and
modifications thereof.</p>

<p class=MsoBodyText>&quot;<b><i>Permitted Concept</i></b>&quot; means a Good Times
Burgers and Frozen Custard restaurant or a Good Times and Taco Johns co-branded
restaurant.</p>

<p class=MsoBodyText>&quot;<b><i>Permitted Exceptions</i></b>&quot; means:&nbsp; (a) the lien
for current real property taxes and assessments, not yet due and payable; (b)
liens and security interests in favor of Lender; (c) those recorded easements,
restrictions, liens and encumbrances set forth as exceptions in the title
insurance policy issued by Title Company to Lender and approved by Lender in
its sole discretion; (d) the Leases; and (e) any other matters which have been
approved in writing by Lender.</p>

<p class=MsoBodyText>&quot;<b><i>Person</i></b>&quot; means any individual, corporation,
partnership, limited liability company, trust, unincorporated organization, or
Governmental Authority.</p>

<p class=MsoBodyText><a name="_DV_C119">&quot;<b><i>Premises</i></b>&quot; means the &quot;<i>Thornton
Premises,</i>&quot; &quot;<i>Loveland Premises,</i>&quot; &quot;Wadsworth Premises&quot;, &quot;Youngfield
Premises&quot;, &quot;Boulder Premises&quot; and &quot;Ft. Collins Premises&quot; each as identified and
legally described on <b><i>Exhibit&nbsp;A</i></b> hereto, and any other
premises covered by a Deed of Trust provided by Borrower pursuant to the Note, together
with all of the Improvements and all other rights and privileges appurtenant to
such real estate.&nbsp; </a></p>

<p class=MsoBodyText>&quot;<b><i>Security Agreement</i></b>&quot; means individually and
collectively, each Security Agreement and Collateral Assignment of Lease of
even date herewith covering the portion of the Collateral located at the Boulder
Premises and Ft. Collins Premises.</p>

<p class=MsoBodyText>&quot;<b><i>Unmatured Default</i></b>&quot; means an event which but
for the lapse of time or the giving of notice, or both, would constitute an
Event of Default.</p>

<p class=ArticleL1 style='margin-left:0in;text-indent:0in'><b>ARTICLE 2</b><br>
THE TRANSACTION</p>

<p class=ArticleL2 style='margin-left:0in'>2.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<u>The Loan</u>.&nbsp; Subject to the terms and conditions of this Agreement,
Lender agrees to make the Loan to Borrower and Borrower agrees to borrow the
Loan from Lender.&nbsp; The Loan is a revolving line of credit.&nbsp; Prior to the
maturity date under the Note, the Loan may be drawn, repaid and drawn again in
unlimited repetitions so long as (a) the aggregate amount outstanding under the
Loan shall not exceed $2,500,000.00 and (b) no uncured Event of Default has
occurred beyond the applicable cure period.&nbsp; </p>

<p class=MsoFooter style='line-height:10.0pt'>8789351.2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </p>

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<p class=ArticleL2 style='margin-left:0in'>2.2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<u>The Note</u>.&nbsp; The Loan will be evidenced by the Note and secured by
the Collateral, as provided in the Deeds of Trust and Security Agreement.&nbsp; Borrower
shall repay the outstanding principal amount of the Loan together with interest
thereon in the manner and in accordance with the terms and conditions of the
Note and the other Loan Documents.</p>

<p class=ArticleL2 style='margin-left:0in'>2.3&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Fees, Costs, and Expenses.</p>

<p class=ArticleL4>(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<u>Commitment Fee</u>.&nbsp; At Closing, Borrower agrees to pay to Lender a Commitment
Fee in the amount of $25,000.00.</p>

<p class=ArticleL4>(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<u>Other Costs and Expenses to be Paid by Borrower</u>.&nbsp; Borrower agrees
to pay to Lender, at Closing, all reasonable out-of pocket costs and expenses
incurred by Lender in connection with the Loan (collectively, &quot;Transaction
Costs&quot;), including (i) those incurred by Lender in connection with Lender's
underwriting and closing due diligence and the negotiation, documentation, and
closing of the Loan; and (ii) costs for inspections and inspection reports;
costs for UCC search reports; escrow costs; recording, filing, and transfer
fees and taxes; appraisal costs; title search and title insurance charges;
costs for environmental reports and environmental testing; and survey costs.</p>

<p class=ArticleL4>(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<u>Deposits</u>.&nbsp; Any deposits paid by Borrower to Lender prior to
entering into this Agreement, whether on account of Transaction Costs or the Commitment
Fee, shall be applied at the Closing to the payment of Transaction Costs and
the Commitment Fee.&nbsp; If the total amount of the deposits made by Borrower
exceeds the Transaction Costs and Commitment Fee, the excess shall be returned
to Borrower at the time of Closing.</p>

<p class=ArticleL2 style='margin-left:0in'>2.4&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<u>Purpose of the Loan</u>.&nbsp; The proceeds of the Loan shall be used by Borrower
for the construction of Improvements for Good Times Burgers &amp; Frozen
Custard restaurants on future premises to be identified by Borrower from time
to time.</p>

<p class=ArticleL2 style='margin-left:0in'>2.5&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<u>Closing; Disbursements</u>.&nbsp; The Closing of the Loan (&quot;Closing&quot;)
shall occur after all conditions precedent set forth below have been satisfied
or waived by Lender.&nbsp; The date on which the Closing occurs is the &quot;Closing Date&quot;.&nbsp;
The Loan will be advanced by wire transfer of immediately available funds,
subject to any prorations and adjustments required by this Agreement, in
installments on the 10<sup>th</sup> day of each month and in amounts approved
by Lender based upon construction costs for the Improvements and other
documentation provided by Borrower as required by Lender.&nbsp; </p>

<p class=ArticleL2 style='margin-left:0in'>2.6&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<u>Conditions Precedent</u>.&nbsp; The obligation of Lender to consummate the
transaction contemplated by this Agreement and to make the Loan is subject to
the satisfaction of each of the following conditions, unless waived in writing
by Lender, in its sole and absolute discretion:</p>

<p class=ArticleL4>(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<u>Due Diligence</u>.&nbsp; Lender shall have conducted such due diligence
with respect to the Borrower Parties, the Collateral, and the transaction as
Lender deems appropriate, and the results of such due diligence are
satisfactory to Lender.</p>

<p class=MsoFooter style='line-height:10.0pt'>8789351.2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </p>

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<p class=ArticleL4>(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<u>No Material Adverse Change</u>.&nbsp; Lender shall have determined that
(i) no Material Adverse Change has occurred since the time of issuance of
Lender's commitment for the Loan; and (ii) there are no facts or circumstances
existing and not previously disclosed in writing to Lender with respect to Borrower,
the Collateral, or the transaction that, in Lender's sole judgment, if known to
Lender at the time Lender issued its commitment, would have caused Lender to
decline to issue the commitment.</p>

<p class=ArticleL4>(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<u>Loan Documents</u>.&nbsp; Lender shall have received each of the Loan
Documents, duly executed and, where appropriate, acknowledged, by all of the
parties to such documents and in form and substance satisfactory to Lender.</p>

<p class=ArticleL4>(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<u>Title Insurance</u>.&nbsp; The Deeds of Trust shall have been recorded,
and the title company selected by Lender to close the Loan (the &quot;Title Company&quot;)
shall be unconditionally committed to issue to Lender an ALTA lenders' title
insurance policy with respect to all of the leasehold Collateral in such form,
in such amounts, and with such endorsements as Lender may reasonably require.</p>

<p class=ArticleL4>(e)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<u>Payment of Costs, Expenses and Fees</u>.&nbsp; All costs, expenses and
fees to be paid by Borrower under the Loan Documents on or before the Closing
will have been paid in full.</p>

<p class=ArticleL4>(f)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<u>Insurance</u>.&nbsp; Borrower, at its expense, shall obtain and deliver to
Lender evidence of insurance on the Improvements in an amount equal to the
replacement cost of the insured Improvements and personal property related
thereto. &nbsp;All insurance policies obtained by Borrower with respect to the
Improvements shall name Lender as an additional insured.</p>

<p class=MsoBodyText>Upon fulfillment or waiver of all of the above conditions,
Lender shall deposit funds necessary to close this transaction with the Title
Company and this transaction shall close in accordance with the terms and
conditions of this Agreement.</p>

<p class=ArticleL2 style='margin-left:0in'>2.7&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<u>Restatement of Prior Loan Agreement</u>.&nbsp; This Agreement amends and
restates in its entirety that certain Loan Agreement dated August 7, 2006 by
and among Lender, Borrower and Co-Maker.&nbsp;&nbsp; The parties acknowledge that
advances of the Loan are already outstanding and that the Closing has already
occurred.&nbsp; </p>

<p class=ArticleL1 style='margin-left:0in;text-indent:0in'><b>ARTICLE 3</b><br>
REPRESENTATIONS AND WARRANTIES</p>

<p class=MsoBodyText>Borrower acknowledges and agrees that (a) the
representations and warranties in this Article are a material consideration to
Lender; (b) Lender is relying on the correctness and completeness of all of
these representations and warranties in entering into this transaction and
making the Loan; and (c) these representations and warranties are true and
accurate as of the date of this Agreement and will be true and accurate as of
the Closing as if made on the Closing Date.&nbsp; Accordingly, Borrower represents,
warrants, and certifies to Lender<b> </b>that:</p>



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<p class=ArticleL2 style='margin-left:0in'>3.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<u>Borrower Organizational Status; Power and Authority</u>.&nbsp; Borrower
and Co-Maker are each a corporation, duly organized or formed, validly existing
and in good standing under the laws of their respective state of incorporation.&nbsp;
Borrower has all requisite power and authority to own and operate its
properties, to carry on its businesses as now conducted and as proposed to be
conducted, and to enter into and perform the Loan Documents to which Borrower
is a party (collectively, the &quot;Borrower Loan Documents&quot;).</p>

<p class=ArticleL2 style='margin-left:0in'>3.2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<u>Due Authorization and Execution; Performance; No Conflicts</u>.&nbsp; All
necessary entity action has been taken to authorize the execution, delivery,
consummation, and performance by Borrower of the Borrower Loan Documents and by
Co-Maker of the Note.&nbsp; The person(s) executing the Borrower Loan Documents on
behalf of Borrower and Co-Maker are duly authorized to do so.&nbsp; No approval,
authorization, consent, certificate, license, permit, registration,
qualification, or other action or grant by or filing with any Governmental
Authority or other Person is required in connection with the authorization,
execution, delivery, consummation, or performance by Borrower or Co-Maker of
the Borrower Loan Documents.&nbsp; The authorization, execution, delivery,
consummation, and performance by Borrower and Co-Maker of the Borrower Loan
Documents will not conflict with or violate any of Borrower's or Co-Maker's organizational
documents or any Applicable Laws or result in any default (or any event, that
with the giving of notice or the passage of time, or both, would constitute a
default) under any document, instrument or agreement to which Borrower or Co-Maker
is a party or by which Borrower or Co-Maker or any of their assets are bound.</p>

<p class=ArticleL2 style='margin-left:0in'>3.3&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<u>Binding Obligations</u>.&nbsp; This Agreement and the other Borrower Loan
Documents have been duly executed and delivered by Borrower and Co-Maker, as
applicable, and constitute the legal, valid and binding obligations of Borrower
and Co-Maker, as applicable, enforceable against Borrower and Co-Maker, as
applicable, in accordance with their respective terms, except as enforceability
may be limited by applicable bankruptcy, insolvency, liquidation,
reorganization and other laws affecting the rights of creditors generally and
general principles of equity.</p>

<p class=ArticleL2 style='margin-left:0in'>3.4&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<u>Non-Foreign Status</u>.&nbsp; Borrower and Co-Maker are not a &quot;foreign
corporation&quot;, &quot;foreign partnership&quot;, &quot;foreign trust&quot;, &quot;foreign estate&quot; or
&quot;foreign person,&quot; as those terms are defined by the Internal Revenue Code of
1986, as amended.</p>

<p class=ArticleL2 style='margin-left:0in'>3.5&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<u>Litigation and Condemnation</u>.&nbsp; There is no action, suit,
investigation, proceeding or arbitration at law or in equity, including
condemnation proceedings or proceedings in lieu of condemnation, pending or, to
the best of Borrower's knowledge, threatened against or affecting any of the
Collateral.</p>

<p class=ArticleL2 style='margin-left:0in'>3.6&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<u>Defaults</u>.&nbsp; Borrower is not in default under and, to the best of Borrower's
knowledge, no event has occurred that, with the giving of notice or the passage
of time, or both, would constitute a default under any of the Leases.</p>

<p class=ArticleL2 style='margin-left:0in'>3.7&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<u>Compliance with the Loan Documents</u>.&nbsp; Borrower is in compliance
with each and every provision of the Borrower Loan Documents.&nbsp; All
representations and warranties of Borrower in the Borrower Loan Documents are
true and complete.</p>

<p class=MsoFooter style='line-height:10.0pt'>8789351.2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </p>

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<p class=ArticleL2 style='margin-left:0in'>3.8&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<u>Title to Assets; Liens</u>.&nbsp; Borrower has good, sufficient and legal
title to all properties and assets reflected in its most recent balance sheet
delivered to Lender, except for assets disposed of in the ordinary course of
business since the date of such balance sheet.&nbsp; Borrower is the owner of a
leasehold interest in each Premises pursuant to the Leases and owns the balance
of the Collateral, all free from any lien, claim, security interest or
encumbrance of any kind whatsoever, excepting only the Permitted Exceptions.</p>

<p class=ArticleL2 style='margin-left:0in'>3.9&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<u>Access; Encroachments</u>.&nbsp; To the best of Borrower's knowledge,
permanent, legal access is available to each Premises from a physically open
and dedicated public right-of-way, all Improvements are located within the
boundary lines of each Premises and do not encroach upon the land of any
adjacent owner; no improvements of any third person encroach upon any Premises;
and no person has any unrecorded right, title or interest in any Premises,
whether by right of adverse possession, prescriptive easement or otherwise.</p>

<p class=ArticleL2 style='margin-left:0in'>3.10&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<u>Utilities</u>.&nbsp; Adequate public or private utilities are available at
each Premises to permit utilization of each Premises as a Permitted Concept and
all utility connection fees and use charges will have been paid in full prior
to delinquency.</p>

<p class=ArticleL2 style='margin-left:0in'>3.11&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<u>Compliance with Applicable Law</u>.&nbsp; Each Premises and the operations
of Borrower at each Premises are in compliance with all Applicable Laws, except
for such noncompliance which has not resulted in, and is not reasonably
expected to result in, a Material Adverse Change.</p>

<p class=ArticleL2 style='margin-left:0in'>3.12&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<u>Permits and Licenses</u>.&nbsp; All required licenses and permits, both
governmental and private, to use and operate each Premises as a Permitted
Concept are (or will be with respect to the Loveland Premises) in full force
and effect, except for such licenses and permits the failure of which to obtain
has not resulted in, and would not reasonably be expected to result in, a
Material Adverse Change.</p>

<p class=ArticleL2 style='margin-left:0in'>3.13&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<u>Leases</u>.&nbsp; Borrower has delivered to Lender a true, correct and
complete copy of the Leases.&nbsp; The Leases are in full force and effect.&nbsp; Borrower
is the sole owner of the entire interest of the lessee under the Leases, and Borrower's
interests in the Leases have not been assigned, transferred, subleased,
mortgaged, hypothecated or otherwise encumbered.&nbsp; No notice of default from
Lessor has been received by Borrower under the Leases that has not been cured
and no notice of default to Lessor has been given under the Leases that have
not been cured.&nbsp; To the best of Borrower's knowledge, except with respect to
the requirement in certain Leases to obtain the Lessor's consent to any
assignment or encumbrance of Borrower's interest in the Lease (which shall be
satisfied before Closing), no event has occurred and no condition exists that,
with the giving of notice or the lapse of time or both, would constitute a
default under the Leases.&nbsp; </p>

<p class=ArticleL2 style='margin-left:0in'>3.14&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<u>Payment of Taxes</u>.&nbsp; All federal, state, and local tax returns and
reports of Borrower required to be filed by it have been timely filed, and all
taxes, assessments, fees and other governmental charges upon Borrower and upon
its properties, assets and income which are due and payable have been paid in
full.&nbsp; Borrower knows of no proposed tax, assessment, fee or other governmental
charge that, if imposed, would result in a Material Adverse Change, and Borrower
has not contracted with any Governmental Authority in connection with such tax,
assessment, fee, or other governmental charge.</p>

<p class=MsoFooter style='line-height:10.0pt'>8789351.2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </p>

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<p class=ArticleL2 style='margin-left:0in'>3.15&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<u>Information</u>.&nbsp; All information provided to Lender by Borrower
(other than financial projections), in connection with the Loan (collectively,
the &quot;Information&quot;) is correct and complete in all material respects as of the
date of such Information, and there are no omissions in any of the Information
that result in any of the Information being materially incomplete, incorrect,
or misleading as of the date of such Information.&nbsp; Borrower acknowledges that
Lender is relying on the Information in entering into this Agreement and making
the Loan.&nbsp; All financial statements (other than financial projections) included
in the Information were prepared in accordance with GAAP and accurately present
the financial conditions of Borrower.</p>

<p class=ArticleL2 style='margin-left:0in'>3.16&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<u>Full Disclosure</u>.&nbsp; There is no fact known to Borrower that
materially and adversely affects the business, operations, assets or condition
(financial or otherwise) of Borrower which has not been disclosed in this
Agreement, the Information, or in other documents, certificates and written
statements furnished to Lender prior to the date of this Agreement.</p>

<p class=ArticleL1 style='margin-left:0in;text-indent:0in'><b>ARTICLE 4</b><br>
AFFIRMATIVE COVENANTS</p>

<p class=MsoBodyText>From and after the Closing and until all of the
Obligations are fully paid and performed, Borrower agrees that:</p>

<p class=ArticleL2 style='margin-left:0in'>4.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<u>Organization and Status of Borrower; Preservation of Name and
Existence</u>.&nbsp; Borrower will continue to be validly existing and in good
standing under the laws of the state of Colorado.</p>

<p class=ArticleL2 style='margin-left:0in'>4.2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<u>Condition and Sufficiency of Equipment and other Assets</u>.&nbsp; Borrower
will maintain all of its tangible assets necessary or useful in the proper
conduct of its business operations in good working order and condition,
ordinary wear and tear excepted.&nbsp; Borrower will own and keep at each Premises
all equipment, including all machinery, furniture, appliances, trade fixtures,
tools, and office and record keeping equipment, and inventory that are
reasonably necessary for the proper and prudent operation of the Premises as a
Permitted Concept.</p>

<p class=ArticleL2 style='margin-left:0in'>4.3&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<u>Future Events</u>.&nbsp; The Loan Documents will remain in full force and
effect, without waiver or surrender of any of Lender's rights under the Loan
Documents, notwithstanding the occurrence of any one or more of the following:&nbsp;
(a) extension of the time of payment of the whole or any part of the Loan; (b)
any change in the terms and conditions of the Loan; (c) substitution of any
other evidence of indebtedness for the Note; (d) acceptance by Lender of any
guaranty, collateral or security of any kind for the payment of any of the
Obligations; (e) surrender, release, exchange or alteration of any Collateral
or other security, either in whole or in part; or (f) release, settlement,
discharge, compromise, change or amendment, in whole or in part, of any claim
of Lender against Borrower or any other party secondarily or additionally
liable for the payment of any of the Obligations.</p>

<p class=ArticleL2 style='margin-left:0in'>4.4&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<u>Representations and Warranties</u>.&nbsp; The representations and
warranties of Borrower and any other Borrower Party contained in any of the
Loan Documents will remain true and complete.</p>

<p class=MsoFooter style='line-height:10.0pt'>8789351.2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </p>

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<p class=ArticleL2 style='margin-left:0in'>4.5&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<u>Leases</u>.&nbsp; Borrower will comply with and perform on a timely basis
all of Borrower's obligations under the Leases and will give Lender prompt
written notice of the occurrence of any default by Borrower under any Lease and
of any notice of default given to Borrower by the lessor under any Lease.&nbsp; Borrower
will keep the Leases in full force and effect and will exercise all available
options under the Leases such that the terms of the Leases will not expire
prior to the Maturity Date, as defined in the Note.&nbsp; Upon request by Lender, Borrower
will use commercially reasonable efforts to obtain from each Premises lessor an
agreement, in form reasonably satisfactory to Lender, in which such lessor
agrees that (a) upon no more than 10 days prior notice, Lender may enter upon
the Premises and, during a period of at least 30 days, remove the tangible
Collateral in exercise of Lender's rights upon the occurrence of an Event of
Default; and (b) lessor, with respect to any statutory landlord's lien or
similar right in any of the Collateral that may exist in Lessor's favor, either
waives such lien or other rights in favor of Lender or subordinates such lien
or other rights to Lender's lien in the Collateral.</p>

<p class=ArticleL2 style='margin-left:0in'>4.6&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<u>Compliance; Licenses and Permits</u>.&nbsp; Borrower will comply with all
Applicable Laws, except for such non-compliance, from time to time, as would
not reasonably be expected to result in a Material Adverse Change.&nbsp; Borrower
will obtain and maintain in full force and effect at all times all licenses,
permits, and approvals, both governmental and private, that are required to use
and operate each Premises as a Permitted Concept.</p>

<p class=ArticleL2 style='margin-left:0in'>4.7&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<u>Taxes and Other Indebtedness</u>.&nbsp; Except for amounts being contested
as permitted in the Loan Documents, Borrower will pay and discharge (a) before
delinquency all taxes, assessments, and governmental charges or levies imposed
upon it, its income or profits, or any property belonging to it, including the
Collateral; (b) when due all lawful claims (including claims for labor,
materials, and supplies) which, if unpaid, might become a lien or encumbrance
upon any of its assets; and (c) when due all its other indebtedness, including
trade payables.</p>

<p class=ArticleL2 style='margin-left:0in'>4.8&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<u>Books and Records</u>.&nbsp; Borrower will maintain and adhere to a
standard, modern system of accounting and cash management (including a single,
complete, and accurate set of books and records of its assets (including the
Collateral), business, financial condition, and operations) in accordance with
GAAP.</p>

<p class=ArticleL2 style='margin-left:0in'>4.9&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<u>Inspections</u>.&nbsp; Borrower will, during normal business hours (or at
any time in an emergency), provide Lender and its representatives with access
to each Premises and the balance of the Collateral; to all of Borrower's files,
correspondence, reports, studies, plans and specifications, and other documents
of Borrower relating to any of the Collateral and Borrower's business
operations; and to all of Borrower's books and records, including financial
records and federal, state, and local tax returns (including any of the
foregoing information stored in any computer files).&nbsp; Lender and its
representatives may make such inspections, tests, copies, and verifications as
Lender reasonably considers necessary; and if any of such inspections, tests,
or verifications disclose that Borrower is not in compliance with any of the
Obligations, Borrower shall pay, upon demand from Lender, the reasonable
out-of-pocket expenses of Lender incurred with respect to such inspections,
tests, or verifications.</p>

<p class=MsoFooter style='line-height:10.0pt'>8789351.2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </p>

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<p class=ArticleL2 style='margin-left:0in'>4.10&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<u>Annual Financial Statements</u>.&nbsp; Within 120&nbsp;days after the end
of each fiscal year of Borrower, Borrower will deliver to Lender
(a)&nbsp;complete financial statements of Borrower, including a balance sheet,
profit and loss statement, statement of cash flows and all other related
schedules for the fiscal period then ended; (b)&nbsp;income statements for the
business at the Premises; and (c) such other information (financial or
otherwise) as Lender may reasonably request.&nbsp; All such financial statements
shall be prepared in accordance with GAAP from period to period and shall be
certified to be accurate and complete by Borrower's treasurer, chief financial
officer, or other appropriate officer.&nbsp; If the property and business at each
Premises is ordinarily consolidated with another business for financial
statement purposes, such financial statements shall be prepared on a
consolidated basis showing separately the sales, profits and losses, assets and
liabilities pertaining to the Premises, with the basis for allocation of
overhead or other charges being clearly set forth.&nbsp; The financial statements
delivered to Lender need not be audited, but Borrower shall deliver to Lender
copies of any audited financial statements of Borrower which may be prepared,
as soon as they are available.</p>

<p class=ArticleL2 style='margin-left:0in'>4.11&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<u>Notices of Litigation</u>.&nbsp; Borrower will give prompt written notice
to Lender of any action, event or condition of any nature which might
reasonably be expected to result in a Material Adverse Change, or which, with
notice or lapse of time or both, would constitute an event of default or a
default under any other instrument or agreement to which it is a party or by or
to which it or any of its assets may be bound or subject.</p>

<p class=ArticleL2 style='margin-left:0in'>4.12&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<u>Indemnity</u>.&nbsp; Borrower will, at its sole cost and expense,
indemnify, defend, and hold harmless each of the Indemnified Parties for, from
and against any and all Losses (other than Excluded Losses) in any way,
directly or indirectly incurred or resulting from, relating to, or arising out
of (a) Borrower's operations at each Premises; (b) the Collateral, whether
relating to its original design or construction, latent defects, operation,
alteration, maintenance, or use by Borrower, its employees, agents,
contractors, invitees, or licensees; or (c) any misrepresentation or inaccuracy
in any representation or warranty in any of the Loan Documents when made.</p>

<p class=ArticleL2 style='margin-left:0in'>4.13&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<u>Estoppel Certificate</u>.&nbsp; From time to time and within 15 days after
a request from Lender, Borrower will execute, acknowledge and deliver to Lender
a certificate certifying to Lender (a) to the best of Borrower's knowledge,
whether there are then any existing defaults by Borrower in the performance of
its obligations under any of the Loan Documents, and, if there are any such
defaults, specifying the nature and extent thereof; and (b) as to such other
facts and circumstances as Lender may reasonably request.&nbsp; </p>

<p class=ArticleL2 style='margin-left:0in'>4.14&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<u>Payment of Certain Costs and Expenses</u>.&nbsp; Borrower will pay to
Lender, within 30 days following written demand from Lender, all reasonable
out-of pocket costs and expenses incurred by or on behalf of Lender in
connection with or relating to (a) enforcement of any of the Loan Documents or
the exercise by Lender of any of its rights and remedies under any of the Loan
Documents; (b) defense of the legality, validity, binding nature, and
enforceability of the Loan Documents and of the perfection and priority of the
liens granted under the Loan Documents; (c) gaining possession of, inspecting,
holding, repairing, maintaining, preserving, and protecting any Collateral; (d)
selling or otherwise disposing of the Collateral; and (e) preparation for any
of the foregoing, whether or not any legal or other proceeding is brought or
other action is taken.</p>

<p class=ArticleL2 style='margin-left:0in'>4.15&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<u>As Built Survey</u>.&nbsp; Upon completion of construction, Borrower shall
deliver to Lender, at Borrower's expense, an as-built ALTA survey of the
Loveland Premises and the Thornton Premises.</p>

<p class=MsoFooter style='line-height:10.0pt'>8789351.2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </p>

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<p class=ArticleL1 style='margin-left:0in;text-indent:0in'><b>ARTICLE 5</b><br>
NEGATIVE COVENANTS</p>

<p class=MsoBodyText>From and after the Closing and until all of the
Obligations are fully paid and performed, Borrower agrees that:</p>

<p class=ArticleL2 style='margin-left:0in'>5.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<u>Organization and Status of Borrower; Preservation of Name and
Existence</u>.&nbsp; Borrower will not amend, restate, supplement, or terminate its
organizational documents in any manner that might reasonably be expected to
result in a Material Adverse Change.&nbsp; Without providing at least 45 days prior
written notice to Lender, Borrower will not change its name, its place of
business or, if more than one, chief executive office, or its mailing address
or organizational identification number, if it has one, or, if Borrower does
not have an organizational identification number and later obtains one, Borrower
will immediately notify Lender of such organizational identification number.</p>

<p class=ArticleL2 style='margin-left:0in'>5.2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<u>Fundamental Changes</u>.&nbsp; Borrower will not dissolve or liquidate.</p>

<p class=ArticleL2 style='margin-left:0in'>5.3&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<u>Leases</u>.&nbsp; Borrower will not agree to any amendment to the Leases
that could reasonably be expected to result in a Material Adverse Change
without Lender's prior written consent.</p>

<p class=ArticleL2 style='margin-left:0in'>5.4&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<u>Assignments by Borrower; Prohibited Transactions</u>.&nbsp; Borrower
acknowledges that Lender has relied both on the business experience and
creditworthiness of Borrower and upon the particular purposes for which Borrower
intends to use the Premises in entering into this Agreement.&nbsp; Without the prior
written consent of Lender, in Lender's sole and absolute discretion, (a) Borrower
will not assign, transfer, convey, pledge or mortgage its interest in this
Agreement or the other Loan Documents, whether by operation of law or otherwise;
and (b) no Change of Control shall occur.</p>

<p class=ArticleL1 style='margin-left:0in;text-indent:0in'><b>ARTICLE 6</b><br>
DEFAULT AND REMEDIES</p>

<p class=ArticleL2 style='margin-left:0in'>6.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<u>Defaults</u>.&nbsp; The following constitute events of default (each, an &quot;Event
of Default&quot;):</p>

<p class=ArticleL4>(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<u>Monetary Defaults</u>.&nbsp; If any Obligation for the payment of money is
not paid on or before the due date and such failure continues without being
fully cured within 10 days following written notice to Borrower of such
failure.</p>

<p class=MsoFooter style='line-height:10.0pt'>8789351.2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </p>

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<p class=ArticleL4>(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<u>Non Monetary Defaults</u>.&nbsp; If Borrower fails to observe or perform
any of the covenants, conditions, or obligations of this Agreement or any of
the other Loan Documents other than those referred to in the preceding
subsections and such failure continues without being fully cured within 30 days
following written notice to Borrower of such failure.&nbsp; However, if any such
failure is not willful or intentional, does not place any rights or interest in
collateral of Lender in immediate jeopardy, and is within the reasonable power
of Borrower to promptly cure after receipt of notice thereof, all as determined
by Lender in its reasonable discretion, then such failure shall not constitute
an Event of Default (unless otherwise expressly provided) if during such 30-day
period, Borrower begins to cure the failure and then diligently pursues the
cure to completion, except that in no event will the cure period under this
subsection exceed 90 days from the date Borrower receives the notice from
Lender.&nbsp; </p>

<p class=ArticleL4>(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<u>Bankruptcy Events</u>.&nbsp; The occurrence of a Bankruptcy Event.</p>

<p class=ArticleL4>(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Any other Event of Default under and as defined in the other Loan
Documents.</p>

<p class=ArticleL2 style='margin-left:0in'>6.2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<u>Remedies</u>.&nbsp; Upon the occurrence and during the continuance of an
Event of Default, Lender may declare all or any part of the Obligations to be
due and payable without presentment, demand, protest or further notice of any
kind.&nbsp; Borrower waives notice of intent to accelerate the Obligations and
notice of acceleration.&nbsp; In addition to declaring the Obligations due and
payable, Lender may exercise, at its option, concurrently, successively or in
any combination, all rights and remedies now or in the future available under
any of the Loan Documents or at law or in equity.&nbsp; Neither the acceptance of
this Agreement nor its enforcement shall prejudice or in any manner affect
Lender's rights to realize upon or enforce its rights with respect to any
security now or in the future held by Lender, and Lender is entitled to enforce
this Agreement and its rights and remedies with respect to any such security in
such order and manner as it may in its absolute discretion determine.</p>

<p class=ArticleL2 style='margin-left:0in'>6.3&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<u>Lender's Right to Cure</u>.&nbsp; Lender may, at its option and without
any obligation to do so, pay, perform, and discharge any and all amounts,
costs, expenses and liabilities that are Borrower's responsibility under any of
the Loan Documents if Borrower fails to timely pay, perform or discharge the
same after 30 days prior written notice to Borrower of Lender's intent to take
any such action, and all amounts reasonably expended by Lender in so doing
shall become part of the Obligations, secured by the lien of the Deeds of Trust,
and shall be immediately due and payable by Borrower to Lender on demand.</p>

<p class=ArticleL2 style='margin-left:0in'>6.4&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<u>Default Interest</u>.&nbsp; Any amounts not paid to Lender when due
(including amounts due by reason of acceleration) shall bear interest from the
due date until paid, at a rate per annum equal to the &quot;Default Rate,&quot; as
defined in the Note.</p>

<p class=ArticleL1 style='margin-left:0in;text-indent:0in'><b>ARTICLE 7</b><br>
<br>
Assignments by Lender</p>

<p class=ArticleL2 style='margin-left:0in'>7.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<u>Right to Assign; Lender Transfers</u>.&nbsp; Lender, from time to time,
may assign, sell, or transfer in whole or in part its interests in the Note,
the Loan, or any of its rights under any of the Loan Documents, including
servicing rights, whether as part of a securitization transaction or by
participation, assignment, sale or other transfer (in each case, a &quot;Lender
Transfer&quot;).&nbsp; Upon a Lender Transfer of Lender's entire right and interest under
the Loan Documents, Lender shall automatically be relieved, from and after the
date of such assignment, of liability for the performance of any obligation of
Lender contained in the Loan Documents.</p>

<p class=MsoFooter style='line-height:10.0pt'>8789351.2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 13&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </p>

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<p class=ArticleL1 style='margin-left:0in;text-indent:0in'><b>ARTICLE 8</b><br>
GENERAL PROVISIONS</p>

<p class=ArticleL2 style='margin-left:0in'>8.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<u>Applicability of General Provisions</u>.&nbsp; The provisions of this
Article apply to this Agreement and to each of the other Loan Documents, the
same as if the provisions of this Article were set forth in full in each of the
other Loan Documents.</p>

<p class=ArticleL2 style='margin-left:0in'>8.2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<u>Notices</u>.&nbsp; All notices, consents, demands, and approvals required
or permitted to be given pursuant to this Agreement or the other Loan Documents
(each, a &quot;Notice&quot;) shall be in writing and shall be given by hand delivery;
express delivery service, freight prepaid; or by certified U.S.&nbsp; mail, postage
prepaid, return receipt requested.&nbsp; Notices will be delivered or addressed to
the parties at the addresses specified on the signature page or at such other
address as a party may designate to the other party in writing.&nbsp; Notices shall
be effective (a) on the date on which the notice is delivered, if notice is
given by hand delivery; (b) on the date of actual receipt, if the notice is
sent by express delivery service; or (c) on the date on which it is received or
rejected as reflected by a receipt if given by U.S.&nbsp; mail, addressed and sent
as aforesaid.</p>

<p class=ArticleL2 style='margin-left:0in'>8.3&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<u>Commissions</u>.&nbsp; Lender and Borrower represent and warrant to each
other that neither has dealt with any broker, agent, finder or other
intermediary in connection with the transactions contemplated by this Agreement
and the other Loan Documents.&nbsp; Lender and Borrower shall indemnify and hold
each other harmless for, from and against any costs, claims or expenses,
including attorneys' fees, arising out of the breach of their respective
representations and warranties contained in this Section.</p>

<p class=ArticleL2 style='margin-left:0in'>8.4&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<u>Waiver and Amendment</u>.&nbsp; None of the terms and provisions of this
Agreement or the other Loan Documents shall be amended or modified, nor shall
Lender have waived any if its rights under any of the Loan Documents, unless Borrower
obtains the prior written consent of Lender with respect to such amendment,
modification or waiver, which consent may be withheld or conditioned in the
sole and absolute discretion of Lender, unless otherwise expressly provided.&nbsp; Waiver
of any matter shall not be deemed a waiver of the same or any other matter on
any future occasion.</p>

<p class=ArticleL2 style='margin-left:0in'>8.5&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<u>Good Faith</u>.&nbsp; In acting on any request by Borrower for a consent
or approval to any matter or for a waiver with respect to any of the provisions
of any of the Loan Documents, notwithstanding the fact that Lender may be
entitled to withhold such consent, approval or request for a waiver in Lender's
sole and absolute discretion, Lender shall act in good faith with respect to
any such request for consent, approval, or waiver.</p>

<p class=ArticleL2 style='margin-left:0in'>8.6&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<u>Construction</u>.&nbsp; Unless the context of this Agreement or any of the
other Loan Documents clearly requires otherwise or unless otherwise expressly
stated in this Agreement or such other Loan Document, this Agreement and each
of the other Loan Documents shall be construed in accordance with the
following:</p>

<p class=MsoFooter style='line-height:10.0pt'>8789351.2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 14&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </p>

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<p class=ArticleL4>(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<u>Use of Certain Words</u>.&nbsp; References to the plural include the
singular and to the singular include the plural and references to any gender
include any other gender.&nbsp; The part includes the whole; the terms &quot;include&quot; and
&quot;including&quot; are not limiting; and the term &quot;or&quot; has, except where otherwise
indicated, the inclusive meaning represented by the phrase &quot;and/or.&quot;&nbsp; The words
&quot;hereof,&quot; &quot;herein,&quot; &quot;hereby,&quot; &quot;hereunder,&quot; and similar terms in a Loan Document
refer to the Loan Document as a whole and not to any particular provision of
the Loan Document.</p>

<p class=ArticleL4>(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<u>References</u>.&nbsp; References in any of the Loan Documents to
&quot;Articles,&quot; &quot;Sections,&quot; &quot;Paragraphs,&quot; &quot;Exhibits,&quot; or &quot;Schedules&quot; are to the
Articles, Sections, and Paragraphs in and the Exhibits and Schedules to such
Loan Document.&nbsp; Article, Section, and Paragraph headings are for purposes of
reference only and shall not limit or define the meaning of any provision.</p>

<p class=ArticleL4>(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<u>Construing the Agreement</u>.&nbsp; This Agreement and the other Loan
Documents have been entered into by parties who are experienced in
sophisticated and complex matters similar to the transactions contemplated by
this Agreement and they are being entered into by the parties in reliance upon
the economic and legal bargains contained in this Agreement and the other Loan
Documents and shall be interpreted and construed in a fair and impartial manner
without regard to such factors as the party that prepared the instrument, the
relative bargaining powers of the parties or the domicile of any party, but
shall be construed and interpreted according to the ordinary meaning of the
words used so as to fairly accomplish the purposes and intentions of all
parties to this Agreement.</p>

<p class=ArticleL4>(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<u>Partial Invalidity</u>.&nbsp; If any portion of this Agreement or any
other Loan Document is determined to be unenforceable or invalid, such portion
shall be stricken from and construed for all purposes not to constitute a part
of this Agreement or such other Loan Document, and the remaining portion of
this Agreement or such other Loan Document shall remain in full force and effect
and shall, for all purposes, constitute the entire Agreement or Loan Document,
as the case may be.</p>

<p class=ArticleL4>(e)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<u>Time of Essence; Time Periods</u>.&nbsp; Time is of the essence of each
provision in this Agreement and the other Loan Documents in which time is an
element.&nbsp; If the time for the performance of any obligation or taking any
action under this Agreement or such other Loan Document expires on a day other
than a Business Day, the time for performance or taking such action shall be
extended to the next succeeding Business Day.&nbsp; &quot;Business Day&quot; means a day when
Lender is open for business other than Saturday, Sunday or a legal holiday.</p>

<p class=ArticleL4>(f)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<u>Choice of Law</u>.&nbsp; Unless otherwise expressly provided in this
Agreement or in any other Loan Document, this Agreement and each of the other
Loan Documents shall be governed by and construed in accordance with Colorado law, without regard to its principles of conflicts of law.</p>

<p class=MsoFooter style='line-height:10.0pt'>8789351.2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 15&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </p>

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<p class=ArticleL2 style='margin-left:0in'>8.7&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<u>Transaction Characterization</u>.&nbsp; <a name="_DV_C376">The Loan
Documents are a contract to extend a financial accommodation (as such term is
used in the Bankruptcy Code) for the benefit of Borrower.&nbsp; The Loan Documents
evidence one unitary, unseverable transaction pertaining to the Collateral</a>.&nbsp;
The business relationship created by the Loan Documents is solely that of
creditor and debtor and has been entered into by the parties in reliance upon
the economic and legal bargains contained in the Loan Documents.&nbsp; None of Loan
Document provisions is intended, nor shall be deemed or construed, to create a
partnership or joint venture between Borrower and Lender, to make Borrower an
agent of Lender, or to make Lender in any way responsible for the debts,
obligations or losses of Borrower.</p>

<p class=ArticleL2 style='margin-left:0in'>8.8&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<u>Further Assurances; Corrections and Insertions</u>.&nbsp; Each party
agrees in good faith to execute such further or additional documents as may be
necessary or appropriate to fully carry out the intent and purpose of this
Agreement and each of the other Loan Documents.&nbsp; </p>

<p class=ArticleL2 style='margin-left:0in'>8.9&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<u>Attorneys' Fees</u>.&nbsp; In the event of any judicial or other
adversarial proceeding between the parties concerning this Agreement or the
other Loan Documents, the prevailing party shall be entitled to recover its
attorneys' fees and other costs in addition to any other relief to which it may
be entitled.</p>

<p class=ArticleL2 style='margin-left:0in'>8.10&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<u>Forum Selection; Jurisdiction; Venue</u>.&nbsp; Borrower consents and
agrees that the state or federal courts located in the City and County of
Denver, Colorado, shall have exclusive jurisdiction to hear and determine any
claims or disputes pertaining to this Agreement or any of the other Loan
Documents, any transaction relating hereto, any other financing related
thereto, and any investigation, litigation, or proceeding in connection with,
related to or arising out of any such matters, provided, that Borrower
acknowledges that any appeals from those courts may have to be heard by a court
located outside of such jurisdiction; and provided further that nothing in this
Agreement shall limit or restrict the right of Lender to commence any
proceeding in the federal or state courts located in the state in which the
Premises are located to the extent Lender deems such proceeding necessary or
advisable to exercise remedies available under the Deeds of Trust or the other
Loan Documents.</p>

<p class=ArticleL2 style='margin-left:0in'>8.11&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<u>Waiver of Jury Trial</u>.&nbsp; THE PARTIES, TO THE EXTENT PERMITTED BY
LAW, WAIVE ALL RIGHT TO TRIAL BY JURY IN ANY ACTION, SUIT, OR PROCEEDING
ARISING OUT OF, IN CONNECTION WITH OR RELATING TO, THIS AGREEMENT, THE
FINANCING CONTEMPLATED HEREBY AND ANY OTHER TRANSACTION CONTEMPLATED HEREBY.&nbsp; THIS
WAIVER APPLIES TO ANY ACTION, SUIT OR PROCEEDING WHETHER SOUNDING IN TORT,
CONTRACT OR OTHERWISE.</p>

<p class=ArticleL2 style='margin-left:0in'>8.12&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<u>Counterparts</u>.&nbsp; This Agreement and each of the other Loan
Documents may be executed in one or more counterparts, each of which shall be
deemed an original.&nbsp; Signature and acknowledgement pages may be detached from
individual counterparts and attached to a single or multiple original(s) in
order to form a single or multiple original(s) of a document.</p>

<p class=ArticleL2 style='margin-left:0in'>8.13&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<u>Binding Effect</u>.&nbsp; This Agreement, the Note, and the other Loan
Documents are binding on and inure to the benefit of Borrower and Lender and
their respective successors and permitted assigns, including, any United States trustee, any debtor in possession or any trustee appointed from a private
panel.</p>

<p class=MsoFooter style='line-height:10.0pt'>8789351.2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 16&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </p>

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<p class=ArticleL2 style='margin-left:0in'>8.14&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<u>Entire Agreement</u>.&nbsp; This Agreement and the other Loan Documents,
together with any other certificates, instruments or agreements to be delivered
in connection therewith, constitute the entire agreement between the parties
with respect to the subject matter hereof, and there are no other
representations, warranties or agreements, written or oral, between Borrower
and Lender with respect to the subject matter of this Agreement and the other
Loan Documents.&nbsp; Notwithstanding anything in this Agreement and the other Loan
Documents to the contrary, with respect to each Premises, upon the execution
and delivery of this Agreement by Borrower and Lender, any bid proposals and
loan commitments, with respect to the transactions contemplated by this
Agreement shall be deemed null and void and of no further force and effect and
the terms and conditions of this Agreement shall control notwithstanding that
such terms and conditions may be inconsistent with or vary from those set forth
in such bid proposals or loan commitments.</p>

<p class=MsoBodyText style='page-break-after:avoid'><b>EXECUTED</b> effective
as of the date first set forth above.</p>

<p class=MsoBodyText style='margin-left:2.5in;text-indent:0in;page-break-after:
avoid'><b>BORROWER</b>:</p>

<p class=MsoNormal style='margin-left:2.5in;page-break-after:avoid'>GOOD TIMES
DRIVE THRU, INC., a Colorado corporation</p>





<p class=MsoNormal style='margin-left:2.5in;page-break-after:avoid'>By <u>/s/ Boyd
E. Hoback</u></p>

<p class=MsoNormal style='margin-left:2.5in;page-break-after:avoid'>Printed
Name: Boyd E. Hoback</p>

<p class=MsoNormal style='margin-left:2.5in;page-break-after:avoid'>Its: President
and CEO</p>



<p class=MsoNormal style='margin-left:2.5in;page-break-after:avoid'>Principal
Place of Business and Address for Notices:</p>

<p class=MsoNormal style='margin-left:2.5in;page-break-after:avoid'>601
Corporate Circle</p>

<p class=MsoNormal style='margin-left:2.5in'>Golden, Colorado 80401</p>



<p class=MsoNormal style='margin-left:2.5in;page-break-after:avoid'><b>&nbsp;</b></p>

<p class=MsoNormal style='margin-left:2.5in;page-break-after:avoid'><b>LENDER</b><b>:</b></p>

<p class=MsoNormal style='margin-left:2.5in;page-break-after:avoid'><b>&nbsp;</b></p>

<p class=MsoNormal style='margin-left:2.5in;page-break-after:avoid'>PFGI II,
LLC, a Colorado Limited Liability Company</p>

<p class=MsoNormal style='margin-left:2.5in;page-break-after:avoid'><b>&nbsp;</b></p>

<p class=MsoNormal style='margin-left:2.5in;page-break-after:avoid'>By: <u>/s Fred
Gardner</u></p>

<p class=MsoNormal style='margin-left:2.5in;page-break-after:avoid'>Its &nbsp;<u>Manager</u></p>





<p class=MsoNormal style='margin-left:2.5in;page-break-after:avoid'>Address for
Notices:</p>

<p class=MsoNormal style='margin-left:2.5in;page-break-after:avoid'>Anderson
CPA</p>

<p class=MsoNormal style='margin-left:2.5in;page-break-after:avoid'>3620 W. 10
Street Unit B-405</p>

<p class=MsoNormal style='margin-left:2.5in;page-break-after:avoid'>Greeley, CO
80634</p>

<p class=MsoNormal style='margin-left:2.5in;page-break-after:avoid'>Attn: Chuck
Anderson</p>





<p class=MsoBodyText style='margin-left:2.5in;text-indent:0in'><b>CO-MAKER:</b></p>

<p class=MsoBodyText style='margin-top:0in;margin-right:0in;margin-bottom:0in;
margin-left:2.5in;margin-bottom:.0001pt;text-indent:0in'>(Executing this
Agreement as to its obligation to execute the Note only)</p>



<p class=MsoBodyText style='margin-top:0in;margin-right:0in;margin-bottom:0in;
margin-left:2.5in;margin-bottom:.0001pt;text-indent:0in'>GOOD TIMES RESTAURANTS
INC., a Nevada corporation</p>



<p class=MsoFooter style='line-height:10.0pt'>8789351.2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 17&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </p>

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<p class=MsoNormal style='margin-left:2.5in;page-break-after:avoid'>By <u>/s/
Boyd E. Hoback</u></p>

<p class=MsoNormal style='margin-left:2.5in;page-break-after:avoid'>Printed
Name: Boyd E. Hoback</p>

<p class=MsoNormal style='margin-left:2.5in;page-break-after:avoid'>Its: President
and CEO</p>





<p class=MsoFooter style='line-height:10.0pt'>8789351.2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 18&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </p>

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<h3>EXHIBIT A</h3>

<h3>DESCRIPTION OF leases</h3>

<p class=MsoBodyText><u>Thornton</u> - Lease dated September 7, 2004 between
Jordon Perlmutter &amp; CO., a Colorado corporation, and Good Times Drive Thru
Inc., a Colorado corporation, regarding the Thornton Premises.</p>

<p class=MsoBodyText><u>Loveland</u> - Lease dated August 10, 2005 between
Centerra Marketplace Properties II, LLC, a Colorado limited liability company,
and Good Times Drive Thru Inc., a Colorado corporation, regarding the Loveland
Premises.</p>

<p class=MsoBodyText><u>Wadsworth</u> - Lease dated December 1, 1993, as
amended by a First Amendment to Lease dated August 1, 2004, between Virginia J.
Morris, Trustee of Walter R. Morris Family Trust and Walter R. Morris, Trustee
of Walter R. Morris Retirement Trust and Good Times Drive Thru Inc., a Colorado corporation, regarding the Wadsworth Premises.</p>

<p class=MsoBodyText><u>Youngfield</u> - Lease dated December 30, 1998 between
70 WBC, L.L.C., a Colorado limited liability company, and Good Times Drive Thru
Inc., a Colorado corporation, regarding the Youngfield Premises.</p>

<p class=MsoBodyText><u>Boulder</u> - Lease dated December 1, 1993 between
Walter R. Morris and Walter R. Morris Retirement Trust and Good Times Drive
Thru Inc., a Colorado corporation, regarding the Boulder Premises.</p>

<p class=MsoBodyText><u>Ft.</u><u> Collins</u> - Lease dated August 1, 2003
between Debora J. Robbins and Pamela K. Overmiller and Good Times Drive Thru
Inc., a Colorado corporation, regarding the Ft. Collins Premises.</p>







<p class=MsoFooter style='line-height:10.0pt'>8789351. 21</p>

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<h3>EXHIBIT B</h3>

<h3>legal DESCRIPTION OF premises</h3>

<p class=MsoBodyText align=center style='text-align:center'><b><u>Thornton</u></b><b><u>
Premises</u></b></p>

<p class=MsoBodyText style='margin-top:0in;margin-right:.5in;margin-bottom:
12.0pt;margin-left:.5in;text-indent:0in'>LOTS
1, 2, 4 AND 5, LARKRIDGE SUBDIVISION FILING NO. 1, A SUBDIVISION LOCATED IN THE
WEST ONE-HALF OF SECTION 2 AND THE EAST ONE-HALF OF SECTION 3, TOWNSHIP 1
SOUTH, RANGE 68 WEST OF THE SIXTH PRINCIPAL MERIDIAN, CITY OF THORNTON, COUNTY
OF ADAMS, STATE OF COLORADO, ACCORDING TO THE OFFICIAL MAP THEREOF RECORDED
OCTOBER 27, 2004 IN THE OFFICE OF THE CLERK AND RECORDER OF ADAMS COUNTY,
COLORADO UNDER INSTRUMENT NO. 20041027001078770.</p>

<p class=MsoBodyText align=center style='text-align:center'><b><u>Loveland</u></b><b><u>
Premises</u></b></p>

<p class=MsoBodyText style='margin-top:0in;margin-right:.5in;margin-bottom:
12.0pt;margin-left:.5in;text-indent:0in'>LOT 1, BLOCK 1, AMENDED PLAT OF TRACT
A AND LOT 2, ROCKY MOUNTAIN VILLAGE 8<sup>TH</sup> SUBDIVISION, TO THE CITY OF LOVELAND, COUNTY OF LARIMER, STATE OF COLORADO.</p>

<p class=MsoBodyText style='margin-top:0in;margin-right:.5in;margin-bottom:
12.0pt;margin-left:.5in;text-indent:0in'>AND</p>

<p class=MsoBodyText style='margin-top:0in;margin-right:.5in;margin-bottom:
12.0pt;margin-left:.5in;text-indent:0in'>PARCEL I:&nbsp; LOT 1, BLOCK 1, ROCKY MOUNTAIN VILLAGE TWELFTH SUBDIVISION, TO THE CITY OF LOVELAND, COUNTY OF LARIMER, STATE OF COLORADO.</p>

<p class=MsoBodyText style='margin-top:0in;margin-right:.5in;margin-bottom:
12.0pt;margin-left:.5in;text-indent:0in'>PARCEL II: OUTLOT A, C AND E, ROCKY
MOUNTAIN VILALGE TWELFTH SUBDIVISION TO THE CITY OF LOVELAND, COUNTY OF
LARIMER, STATE OF COLORADO.</p>

<p class=MsoBodyText style='margin-top:0in;margin-right:.5in;margin-bottom:
12.0pt;margin-left:.5in;text-indent:0in'>PARCEL III: EASEMENTS AND OTHER RIGHTS
CONTAINED IN OPERATION AND EASEMENT AGREEMENT FOR CENTERRA MARKETPLACE II DATED
EFFECTIVE OCTOBER 14, 2004 AND RECORDED OCTOBER 14, 2004 AT RECEPTION NO.
20040101536, COUNTY OF LARIMER, STATE OF COLORADO</p>

<p class=MsoBodyText style='margin-top:0in;margin-right:.5in;margin-bottom:
12.0pt;margin-left:.5in;text-indent:0in'>PARCEL IV:&nbsp; LOT 8, BLOCK 1, McWHINNEY
TENTH SUBDIVISION, TO THE CITY OF LOVELAND, COUNTY OF LARIMER, STATE OF COLORADO.</p>

<p class=MsoBodyText style='margin-top:0in;margin-right:.5in;margin-bottom:
12.0pt;margin-left:.5in;text-indent:0in'>PARCEL V:&nbsp; EASEMENTS AND OTHER RIGHTS
CONTAINED IN THE OPERATION AND EASEMENT AGREEMENT BY AND BETWEEN DAYTON HUDSON
CORPORATION AND McWHINNEY HOLDING COMPANY, LLC, RECORDED MARCH 3, 1998 AT
RECEPTION NO. 98015993, COUNTY OF LARIMER, STATE OF COLORADO.</p>

<p class=MsoFooter style='line-height:10.0pt'>8789351. 21</p>

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<p class=MsoBodyText style='margin-top:0in;margin-right:.5in;margin-bottom:
12.0pt;margin-left:.5in;text-indent:0in'>PARCEL VI:&nbsp;&nbsp; LOTS 1, 2 AND 3, BLOCK 1,
AND OUTLOT A, ROCKY MOUNTAIN VILLAGE THIRTEENTH SUBDIVISION TO THE CITY OF
LOVELAND, COUNTY OF LARIMER, STATE OF COLORADO.</p>

<p class=MsoBodyText align=center style='text-align:center'><b><u>Wadsworth</u></b><b><u>
Premises </u></b></p>

<p class=MsoBodyText style='margin-top:0in;margin-right:.5in;margin-bottom:
12.0pt;margin-left:.5in;text-indent:0in'>LOT 4, WESTGLENN SUBDIVISION FILING
NUMNBER 7, JEFFERSON COUNTY, COLORADO.</p>

<p class=MsoBodyText align=center style='text-align:center'><b><u>Youngfield
Premises</u></b></p>

<p class=MsoFooter style='line-height:10.0pt'>LOT 2, BLOCK 1, 70 WEST BUSINESS
CENTER SUBDIVISION FILING NO. 3, A RE-SUBDIVISION OF LOT 4, LOT 6, AND A PART
OF LOTS 1 AND 7, 70 WEST BUSINESS CENTER AND LOT 1 AND LOT 2, 70 WEST BUSINESS
CENTER SUBDIVISION FILING NO. 2 SITUATED IN THE NW &frac14; OF SECTION 29, T. 3 S., R.
69 W., OF THE 6<sup>TH</sup> P.M., CITY OF WHEAT RIDGE, COUNTY OF JEFFERSON,
STATE OF COLORADO. 8789351.2
</p>

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</DOCUMENT>
<DOCUMENT>
<TYPE>EX-2
<SEQUENCE>3
<FILENAME>promissorynote1.htm
<TEXT>
<html>

<head>
<!-- Document Prepared With E-Services, LLC HTML Software-->
<!-- Copyright 2006 E-Services, LLC.-->
<!-- All rights reserved EDGAR2.com -->



<title>PROMISSORY NOTE</title>



</head>

<body lang=EN-US>



<p class=MsoNormal align=center style='text-align:center'><b><u>&nbsp;</u></b></p>

<p class=MsoNormal align=center style='text-align:center'><b><u>&nbsp;</u></b></p>









<p class=MsoNormal align=center style='text-align:center'><b><u>AMENDED AND
RESTATED PROMISSORY NOTE</u></b></p>

<p class=MsoNormal align=center style='text-align:center'>(Revolving Line of
Credit)</p>

<p class=MsoNormal style='text-align:justify'>$2,500,000.00&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Denver, Colorado</p>

<p class=MsoNormal style='text-align:justify'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; July
1, 2008</p>



<p class=TabbedL1 style='margin-left:0in'>1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
FOR VALUE RECEIVED, the undersigned GOOD TIMES DRIVE THRU, INC., a
Colorado corporation (&quot;<b>GT Drive Thru</b>&quot;) and GOOD TIMES RESTAURANTS INC.,
a Nevada corporation (collectively, &quot;<b>Maker</b>&quot;), hereby jointly, severally
and unconditionally promise to pay to the order of PFGI II, LLC, a Colorado
limited liability company, or order (&quot;<b>Holder</b>&quot;), the principal sum of Two
Million Five Hundred Thousand Dollars ($2,500,000), or so much of that sum as
may be advanced under this Promissory Note, together with interest accruing at
the rate of the Prime Rate, as hereinafter defined, plus two percent (2%) per
annum on the unpaid principal balance as set forth below, subject however to a
minimum accruing interest rate of 8% per annum.&nbsp; Such principal and interest
shall be payable pursuant to paragraph 2 below at 3620 W. 10<sup>th</sup>
Street, Unit B-411, Greeley, Colorado 80634, or at such other place as Holder
shall designate in writing. &nbsp;&quot;<b>Prime Rate</b>&quot; means the base rate reported
in the Money Rates column or section of <u>The Wall Street Journal</u> for
corporate loans at large U.S. commercial banks.&nbsp; Any change in the Prime Rate
shall take effect on the date specified in the public announcement of such
change.&nbsp; This Promissory Note evidences a revolving line of credit loan (the &quot;<b>Loan</b>&quot;)
from Maker to Holder and is subject to the terms and conditions of that certain
Loan Agreement between Maker and Holder dated August 7, 2006 (as amended and restated
on the date hereof, &quot;<b>Loan Agreement</b>&quot;).&nbsp; Each capitalized term used but
not defined herein shall have the same meaning given to such term in the Loan
Agreement. </p>

<p class=TabbedL1 style='margin-left:0in'>2.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<u>Payment and Maturity</u>.&nbsp; Monthly payments of accrued interest only shall
be paid by Maker commencing on August 1, 2008 and continuing thereafter on the
first day of each succeeding calendar month in equal payments, as adjusted with
adjustments to the Prime Rate. This Promissory Note shall mature on July 10,
2009 (&quot;<b>Maturity Date</b>&quot;), at which time all unpaid principal and accrued
interest thereon shall be due and payable in full.</p>

<p class=TabbedL1 style='margin-left:0in'>3.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<u>Disbursements</u>.&nbsp; Disbursements of the Loan will be made by Maker
pursuant to the terms of the Loan Agreement.&nbsp; Maker shall not be required to
make any disbursement or advance of the Loan if it would cause the outstanding
principal balance of this Promissory Note to exceed $2,500,000.00.&nbsp; This
Promissory Note constitutes a revolving line of credit which may be advanced,
repaid and re-advanced from time to time in accordance with the terms and
conditions of the Loan Agreement.</p>

<p class=TabbedL1 style='margin-left:0in'>4.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<u>Prepayment</u>.&nbsp; Maker may prepay this Promissory Note at any time
without penalty or prior consent of Holder.</p>

<p class=MsoFooter style='line-height:10.0pt'>8787469.2 </p>

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<p class=TabbedL1 style='margin-left:0in'>5.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<u>Security</u>.&nbsp; This Promissory Note and the indebtedness created and
evidenced hereby, including principal and interest, are secured by (i) four
separate Leasehold Deeds of Trust, Security Agreement, Assignment of Rents and
Fixture Filings dated July 7, 2006 and recorded under Reception Nos. 2006110700
and 2006110701 in Jefferson County, Colorado on September 11, 2006, Reception
No. 20060905000894220 in Adams County, Colorado on September 5, 2006 and
Reception No. 20060067137 in Larimer County, Colorado on September 1, 2006 (collectively,
the &quot;<b>Existing Deeds of Trust</b>&quot;) made by GT Drive Thru for the benefit of Holder,
encumbering all of GT Drive Thru's leasehold interest in and to the real
property described therein (&quot;<b>Real Property</b>&quot;) and located in the Counties
of Jefferson, Adams and Larimer, State of Colorado and other collateral, as
more particularly described therein; and (ii) two separate Security Agreements and
Collateral Assignments of Lease dated August ___, 2006 (collectively, the &quot;<b>Security
Agreements</b>&quot;), from GT Drive Thru to Holder, encumbering the tangible and
intangible assets, personal property, furniture, fixtures, goods, equipment and
other personal property located at the Real Property (collectively, the &quot;<b>Property</b>&quot;).&nbsp;
In addition, at such time as the outstanding principal balance of this
Promissory Note exceeds $1,500,000, Maker shall provide, for the benefit of
Holder and as additional security for this Promissory Note, a deed of trust on
an additional restaurant property owned by Maker (the &quot;<b>Additional Deed of
Trust</b>&quot;).&nbsp; Such Additional Deed of Trust shall be promptly released by
Holder when the outstanding principal balance falls below $1,500,000.&nbsp; This
Promissory Note, the Existing Deeds of Trust, any Additional Deed of Trust, the
Loan Agreement and the Security Agreements are hereinafter collectively
referred to as the &quot;<b>Loan Documents</b>&quot;.</p>

<p class=TabbedL1 style='margin-left:0in'>6.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<u>Application of Payments</u>.&nbsp; All sums paid hereunder shall be
applied first to the repayment of any sums advanced by Holder for the payment
of any taxes, assessments, insurance premiums, or other charges pursuant to the
Security Agreements or Deeds of Trust then to accrued and unpaid interest; and
the remainder, if any, to the reduction of unpaid principal.&nbsp; All interest
hereunder shall be calculated on the basis of a three hundred sixty-five (365)
day year.</p>

<p class=TabbedL1 style='margin-left:0in'>7.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<u>Acceleration and Default Interest</u>.&nbsp; If Maker shall default in the
payment of any installment of interest under this Promissory Note, or in the
performance of any covenants or terms contained in the other Loan Documents,
and if such default is not cured within the applicable cure period stated in
any such Loan Document, the entire unpaid balance of this Promissory Note,
including all principal and accrued interest, irrespective of the maturity date
specified herein, shall, at the election of Holder, become immediately due and
payable and each and every such delinquent payment, including the entire
principal balance and accrued interest in the event of acceleration, shall bear
interest thereafter at the rate of eighteen percent (18%) per annum (&quot;<b>Default
Rate</b>&quot;) until paid in full.&nbsp; The rights or remedies of Holder as provided in
this Promissory Note and the other Loan Documents shall be cumulative and
concurrent and may be pursued singularly, successively, or together against
Maker, the Property, any other funds, property, or security held by Holder for
the payment hereof, or otherwise at the sole discretion of Payee.&nbsp; Failure to
exercise any such right to remedy shall in no event be construed as a waiver or
release of such rights or remedies or the right to exercise them at a later
time.&nbsp; </p>

<p class=TabbedL1 style='margin-left:0in'>8.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<u>Attorneys' Fees</u>.&nbsp; Maker agrees to promptly reimburse Holder for
all reasonable costs and expenses, including attorneys' fees and court costs,
incurred to collect this Promissory Note or any installment hereunder, if not
paid when due.</p>

<p class=TabbedL1 style='margin-left:0in'>9.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<u>No Waiver</u>.&nbsp; No failure on the part of Holder to exercise, and no
delay in exercising any right hereunder shall operate as a waiver of such
right; nor shall any single or partial exercise by Holder of any right
hereunder preclude the exercise of any other right.&nbsp; The remedies herein
provided are cumulative and not exclusive of any remedies provided by law.</p>

<div>

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<p class=MsoFooter style='line-height:10.0pt'>8787469.2 </p>

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<p class=TabbedL1 style='margin-left:0in'>10.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<u>Waiver</u>.&nbsp; Maker hereby waives presentment, demand for payment,
protest for nonpayment, notice of dishonor, diligence in collection, and all
other indulgences, and expressly agree that this Promissory Note may be
extended or renewed from time to time and any real or collateral security or
any part thereof may be released by Holder without in any manner affecting,
altering, releasing, or limiting its liability hereon.</p>

<p class=TabbedL1 style='margin-left:0in'>11.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<u>Colorado</u><u> Law</u>.&nbsp; This Promissory Note is made in and shall
be governed by and interpreted in accordance with the laws of the State of Colorado.</p>

<p class=TabbedL1 style='margin-left:0in'>12.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<u>General Provisions</u>.&nbsp; This Promissory Note amends and restates (i)
that certain promissory note dated August 7, 2006 made by Maker for the benefit
of Holder in the original principal amount of $1,000,000 and (ii) that certain
promissory note dated March 15, 2007, made by Maker for the benefit of Holder
in the original principal amount of $1,000,000.&nbsp; This Promissory Note may not
be amended, modified or changed, nor shall any waiver of any provision hereof
be effective, unless set forth by an instrument in writing and signed by the
party against whom enforcement of any waiver, amendment, change, modification
or discharge is sought.</p>

<p class=TabbedCont1 style='text-align:justify'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Whenever used
herein, the words &quot;Maker&quot;, and &quot;Holder&quot; shall be deemed to include their
respective successors and assigns.</p>

<p class=TabbedCont1 style='text-align:justify;page-break-after:avoid'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; IN
WITNESS WHEREOF, the undersigned has duly executed this Promissory Note the day
and year first above written.</p>

<p class=TabbedCont1 style='page-break-after:avoid'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; MAKER:</p>

<p class=TabbedCont1 style='margin-top:0in;margin-right:0in;margin-bottom:0in;
margin-left:3.5in;margin-bottom:.0001pt;page-break-after:avoid'>GOOD TIMES DRIVE
THRU INC., a Colorado corporation</p>





<p class=TabbedCont1 style='margin-bottom:0in;margin-bottom:.0001pt;page-break-after:
avoid'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; By:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <u>/s/
Boyd E. Hoback&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </u></p>

<p class=TabbedCont1 style='margin-bottom:0in;margin-bottom:.0001pt;page-break-after:
avoid'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Name:&nbsp; Boyd
E. Hoback, President and CEO</p>







<p class=TabbedCont1 style='margin-top:0in;margin-right:0in;margin-bottom:0in;
margin-left:3.5in;margin-bottom:.0001pt;page-break-after:avoid'>GOOD TIMES
RESTAURANTS INC., a Nevada corporation</p>





<p class=TabbedCont1 style='margin-bottom:0in;margin-bottom:.0001pt;page-break-after:
avoid'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; By:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <u>/s/
Boyd E. Hoback&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </u></p>

<p class=TabbedCont1 style='margin-bottom:0in;margin-bottom:.0001pt;page-break-after:
avoid'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Name:&nbsp; Boyd
E. Hoback, President and CEO</p>

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<p class=MsoFooter style='line-height:10.0pt'>8787469.2 </p>

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