EXHIBIT 10.10 (k)
A. Borrower has or intended to expand an industrial facility located in Monticello, Wayne County, Kentucky, for
the purpose of manufacturing component parts for kitchen cabinets and other uses (the "Project") at a cost in
excess of $6,370,000.
B. The Project constitutes an "economic development project" under Kentucky law and, as such, the Project will
enable Borrower to receive certain tax credits (the "Incentives"), if certain conditions are met. These conditions
include (i) execution of this Agreement and (ii) execution of a financing agreement (the "Financing Agreement")
among Borrower, Lender, and the Kentucky Economic Development Finance Authority ("KEDFA").
C. Borrower has asked Lender and Lender has agreed (i) to loan Borrower the sum of Four Million Dollars
($4,000,000.00) to finance a portion of the Project and (ii) to enter into the Financing Agreement to enable the
Borrower to receive the Incentives so that Borrower will be better able to repay such loan, subject to the terms
and conditions set forth herein.
NOW, THEREFORE, FOR VALUABLE CONSIDERATION, the receipt and sufficiency of which are hereby
acknowledged, Borrower and Lender hereby agree as follows:
1. Terms of Loan.
1.1 Amount; Use of Proceeds. Lender shall loan Four Million Dollars ($4,000,000) (the "Loan") to Borrower
upon execution and delivery of a promissory note by Borrower in favor of Lender in the form of the attached
Exhibit A (the "Promissory Note"). Borrower shall use the Loan to pay for, or reimburse Borrower for, costs
incurred in connection with the Project.
1.2 Repayment. Borrower shall repay the Loan, together with interest theron, in accordance with the terms set
forth in the Promissory Note.
2. Representation and Warranties.
Borrower makes the following representations and warranties to induce Lender to enter into this Agreement:
2.1 Authorization. Borrower has the power and authority to enter into and perform this Agreement and the