Database back up failed

OS X Server v.10.4.11
Now Up-to-Date v.5.3.2

The log files repeats the same error over and over:
General Database back up failed because of error -120
General Database back up failed because of error -120
General Database back up failed because of error -120
...

Under the "Utilities" tab the location says "Can't find directory. Error is -35" every time I start up the server manager. I have tried to set the location several times. The permissions on the folder are 777.

Error -120 is a directory not found error. Error -35 is volume not found error. It sounds like there is something about the volume you are backing up to that is causing a problem. What is the full path of your backup folder?

Volume not found would be correct. The backup was setup to save to a volume that is not present any longer. I can not change it to a new path. Every time I set it to a new folder click "apply" close the application and re-open I get the same error: "Can't find directory. Error -35". I also have a 10MB log file saying: "Database back up failed because of error -120".

Is the backup path saved in the database? I created a new database and imported the data, and the error.