Modification Agreement (Commercial). ,
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Loan number
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Modification Agreement dated March 28, 2003, by and between Patient Infosystems,
Inc. ("Debtor ") and Xxxxx Fargo Bank, National Association,("Bank"),modifying a
note or contract dated June 28, 2002, in the original principal amount of $
3,000,000.00 ("Note").
The principal balance outstanding as of the date of this Modification Agreement
is $ 3,000,000.
1. The parties hereby agree to modify the Note as follows:
A. EXTENSION OF MATURITY. Upon payment of accrued interest herewith of
$14,842.25.
X The maturity date of the Note is hereby extended to January 2, 2004, when
the entire balance of unpaid principal and interest shall be due and
payable in full. Prior to such date, borrower shall pay interest pursuant
to the terms of the Note.
2. Each provision above for which a box is checked forms a part of this
Modification Agreement.
3. Except as stated above, all other terms of the Note and all related
documents including but not limited to contracts, security agreements, or
mortgages shall remain unchanged and in full force and effect.
IMPORTANT: READ BEFORE SIGNING THE AGREEMENT(S) ACCOMPANYING THIS NOTICE. THE
TERMS OF THE AGREEMENT(S) SHOULD BE READ CAREFULLY BECAUSE ONLY THOSE TERMS IN
WRITING ARE ENFORCEABLE. NO OTHER TERMS OR ORAL PROMISES NOT CONTAINED IN THE
WRITTEN CONTRACT(S) MAY BE LEGALLY ENFORCED. YOU MAY CHANGE THE TERMS OF THE
AGREEMENT(S) ONLY BY ANOTHER WRITTEN AGREEMENT. THIS NOTICE ALSO APPLIES TO ANY
OTHER CREDIT AGREEMENTS (EXCEPT CONSUMER LOANS OR OTHER EXEMPT TRANSACTIONS) NOW
IN EFFECT BETWEEN YOU AND THIS LENDER.
DEBTOR ACKNOWLEDGES RECEIPT OF A COPY OF THIS MODIFICATION AGREEMENT.
Bank name: Xxxxx Fargo Bank, Debtor: Patient Infosystems, Inc.
National Association
By: /s/Xxxxxxxxx X. Xxxx By: /s/ Xxxx X. Xxxxxx
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Its: Assistant Vice President Its: Vice President
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