SKC INVESTMENTS, INC.
CHANNEL 66 OF VALLEJO, CALIFORNIA, INC.
APRIL 26, 1996
THIS LOAN AGREEMENT, dated as of this 26th day of April, 1996, is by and between SKC
INVESTMENTS, INC., a Delaware corporation having its principal offices at 100 South Sangamon Street,
Suite 300, Chicago, Illinois 60607 (the "Lender"), and CHANNEL 66 OF VALLEJO, CALIFORNIA, INC., a
Delaware corporation having its principal offices at 12144 Classic Drive, Coral Springs, Florida 33071 (the
W I T N E S S E T H:
WHEREAS, the Borrower intends to purchase and operate Television Station KPST-TV, Channel 66, Vallejo,
California (the "Station"); and
WHEREAS, the Borrower desires to borrow funds from the Lender to finance the purchase of the Station from
Pan Pacific Television, Inc. and to make other improvements in the operation of the Station;
NOW, THEREFORE, in consideration of the mutual promises and agreements herein contained, the Lender and
the Borrower agree as follows:
ARTICLE I. AMOUNT AND TERMS OF THE LOANS
SECTION 1.1 THE LOAN. The Lender agrees, upon the terms and conditions hereinafter set forth, to make a
loan or loans to the Borrower in an aggregate principal amount not to exceed at any one time outstanding Eight
Million Nine Hundred Thousand Dollars ($8,900,000.00) (the "Loan").
SECTION 1.2 THE PROMISSORY NOTE. The outstanding principal amount of the Loan shall be evidenced
by and subject to the terms of a promissory note, dated of even date herewith, substantially in the form set forth
as Exhibit 1 hereto (the "Note") payable to the order of the Lender and representing the obligation of the
Borrower to pay the Lender the amount of the Loan, with interest thereon, as prescribed in Section 1.4. The
Lender is authorized to endorse the date and amount of the Loan and each repayment of principal and/or interest
with respect thereto on the Schedule A annexed to and constituting a part of the Note, which endorsement