Consent of Guarantor by MortgageIT Holdings, Inc. Regarding Amendment to Loan Documents

Summary

MortgageIT Holdings, Inc., as Guarantor, consents to an amendment affecting a prior loan agreement and confirms that its guarantee now covers the borrower's obligations under the amended agreement and related documents. The Guarantor reaffirms its separate and ongoing obligations under the original guaranty and waives any defenses based on anti-deficiency protections. This consent ensures the Guarantor remains fully responsible for the borrower's amended debt obligations.

EX-10.5 8 file006.htm CONSENT OF GUARANTOR

  CONSENT OF GUARANTOR The undersigned, being the Guarantor under a Guaranty dated April 12, 2005 (the "Guaranty"), consents to the foregoing Amendment and the transactions contemplated by it, and ratifies and reaffirms its obligations under the Guaranty so as to include within the term "Guaranteed Debt" the indebtedness, obligations and liabilities of Borrower under this Amendment, the Agreement as modified by this Amendment, the Note and the other Loan Documents. The Guarantor hereby reaffirms that its obligations under the Guaranty are separate and distinct from Borrower's obligations to Lender, and that its obligations under the Guaranty are in full force and effect. Finally, the Guarantor waives and agrees not to assert any anti-deficiency protections or other rights as a defense to its obligations under the Guaranty, all as set forth in the Guaranty, the terms of which are incorporated into this Consent as if fully set forth in it. Dated: 5/9/2005 GUARANTOR: MortgageIT Holdings, Inc., a Maryland corporation By: /s/ John R. Cuti Its: General Counsel and Secretary