FIRST AMENDMENT TO FIRST AMENDED AND RESTATED LOAN AGREEMENT
THIS FIRST AMENDMENT TO FIRST AMENDED AND RESTATED LOAN AGREEMENT (the
Amendment ”) is made and entered into to be effective the _____ day of August 2007, by and between Farm Credi
of Southwest Florida, ACA , an agricultural credit association for itself and as agent/nominee for other lendin
institutions having an interest, direct or indirect, in the Loan (as defined hereinbelow) from time to time (the “ Lender ”)
ALICO, Inc. (“ Borrower ”), Bowen Brothers Fruit, LLC , (“ Brothers ”), ALICO-AGRI, LTD. (“ Agri ”), Alic
Land Development, Inc. (f/k/a Saddlebag Lake Resorts, Inc.) (“ Development ”) and Alico Plant World, L.L.C
(“Plant”) (Brothers, Agri, Development and Plant, collectively, “ Guarantors ”) (Lender, Borrower and Guarantor
collectively, the “ Parties ”, and, each singly, a “ Party ”) and amends that certain Amended and Restated Loa
Agreement among the Parties dated to be effective as of May 26, 2006 (the “ Loan Agreement ”).
Lender currently has a $175,000,000 revolving line of credit loan (the “ Loan ”) outstanding to Borrower. Th
Loan is governed by certain financial covenants as set forth in the Loan Agreement. Lender, Borrower and Guarantor
have agreed to amend the Net Worth ratio as set forth below pursuant to the terms and conditions set forth in thi
Additionally, since the date of the Loan Agreement, a Guarantor, Saddlebag Lake Resorts, Inc., has changed it
name to Alico Land Development, Inc. The Parties wish to amend the Loan Agreement and respective Guarant
Agreement to reflect this name change.
All capitalized terms used and not otherwise defined herein shall have the meaning set forth in the Loan Agreement
as amended by this Amendment.
NOW THEREFORE, the Parties hereby agree as follows:
1. Amendments to the Loan Agreement . The Loan Agreement is hereby amended as follows:
(a) Section 1.24, “Guarantors”, is hereby amended such that the name “Alico Land Develop