CHANGE IN TERMS AGREEMENT
DESCRIPTION OF EXISTING INDEBTEDNESS.
BORROWER BECAME INDEBTED TO LENDER ON A PROMISSORY NOTE DATED OCTOBER 10, 2006 IN THE ORIGINAL
PRINCIPAL AMOUNT OF $211,424.00.
DESCRIPTION OF COLLATERAL.
A SECURITY INTEREST IN BUSINESS ASSETS OF BORROWER DESCRIBED IN THAT CERTAIN SECURITY AGREEMENT
DATED OCTOBER 10, 2006, INCLUDING A 2004 ROLLS ROYCE PHANTOM (VIN SCA1 S68424UX07261).
DESCRIPTION OF CHANGE IN TERMS.
CHANGE LOAN AMOUNT TO CURRENT BALANCE OF $159,523.37
DEFERRED PRINCIPAL PAYMENTS FOR 3 MONTHS, STARTING WITH OCTOBER 10, 2008 PAYMENT. OCTOBER
INTEREST PAYMENT WILL BE COLLECTED AT SIGNING. PRINCIPAL AND INTEREST PAYMENTS WILL RESUME
STARTING WITH THE JANUARY 10, 2009 PAYMENT.
PAYMENT. Borrower will pay this loan in accordance with the following payment schedule: 2 monthly consecutive interest
payments, beginning November 10, 2008, with interest calculated on the unpaid principal balances at an interest rate of
6.690% per annum; 57 monthly consecutive principal and interest payments of $3,226.64 each, beginning January 10, 2009,
with interest calculated on the unpaid principal balances at an interest rate of 6.690% per annum; and one principal and
Interest payment of $3,226.72 on October 10, 2013, with interest calculated on the unpaid principal balances at an interest
rate of 6.690% per annum. This estimated final payment is based on the assumption that all payments will be made exactly as
scheduled; the actual final payment will be for all principal and accrued interest not yet paid, together with any other unpaid
amounts on this loan.
CONTINUING VALIDITY. Except as expressly changed by this Agreement, the terms of the original obligation or obligations,
including all agreements evidenced or securing the obligation(s), remain unchanged and in full force and effect. Consent by
Lender to this Agreement does not waive Lender’s right to strict performance of the obligation(s) as changed, nor obligate
Lender to make any future change in terms. Nothing in th