Loan Modification Agreement
(Commercial Real Estate) (Pro-Lender) (TX)

Summary

This template is a loan modification agreement for changing terms of a Texas commercial real estate loan that is not in default. This template includes practical guidance, drafting notes, and alternate and optional clauses. This template is for modifying a bilateral commercial real estate loan to amend terms of the promissory note and/or loan agreement. If the deed of trust needs to be modified, this agreement may include such changes along with formatting for recording. Alternatively, a separate modification of deed of trust may be prepared and recorded to keep loan agreement information out of the public records. This template is drafted from the point of view of the lender with borrower-friendly terms included in the drafting notes. The capitalized terms not otherwise defined in this template must be conformed to the defined terms in the loan documents being modified. For a detailed discussion of loan modification agreements, see Loan Modification Agreements (Commercial Real Estate) and Loan Modification Agreements (Commercial Real Estate) (TX). For a template of a loan modification agreement for a loan that is in default or a workout situation, see Loan Agreement Amendment (Bankruptcy, Loan, and other Debt Workouts). For a template of an acquisition loan agreement, see Loan Agreement (Acquisition Financing). For a general discussion of acquisition loan agreements, see Acquisition Loan Agreements. For general information regarding commercial real estate financing in Texas, see Commercial Real Estate Financing (TX), Commercial Real Estate Financing Transactions (TX), and Commercial Real Estate Acquisition Loan Resource Kit (TX). For a Texas deed of trust template, see Deed of Trust (TX) or Deed of Trust (Acquisition Loan, Short Form) (Pro-Lender) (TX). For a Texas promissory note template, see Promissory Note (Secured Loan) (TX) or Secured Promissory Note (Consolidated Note) (TX).