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EXHIBIT 10.36
Drawn By and Return To: CONFORMED COPY
Xxxxx & Xxx Xxxxx (CCK)
000 Xxxxx Xxxxx Xxxxxx, Xxxxx 00
Xxxxxxxxx, Xxxxx Xxxxxxxx 28202-4003
SECOND AMENDMENT
STATE OF NORTH CAROLINA TO
DEED OF TRUST
COUNTY OF CATAWBA AND
SECURITY AGREEMENT
THIS SECOND AMENDMENT TO DEED OF TRUST AND SECURITY AGREEMENT, is made and
entered into as of September 6, 1996, by and among
RIDGEVIEW, INC., a North Carolina corporation (the "Grantor");
XXXXXXXXXXX X. XXXXX, a resident of Charlotte, North Carolina (the
"Trustee"); and
NATIONSBANK, National Association (SOUTH), a national banking association
organized and existing under the laws of the United States, having an office in
Atlanta, Georgia (hereinafter the "Lender").
RECITALS:
A. The Grantor has previously executed a Deed of Trust and Security
Agreement, dated January 10, 1995, as amended June 11, 1996, in favor of the
Lender, recorded in Book 1914, Page 1234, of the Catawba County, North Carolina
Registry (the "Deed of Trust").
B. The Grantor has agreed to amend the Deed of Trust as set forth
herein.
NOW, THEREFORE, the Grantor, the Trustee and the Lender hereby agree as
follows:
1. The Deed of Trust is hereby amended in the following respects:
a. The first four introductory paragraphs are amended to read in
their entirety as follows:
THIS DEED OF TRUST AND SECURITY AGREEMENT (the "Deed of
Trust"), made and entered into as of
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the 10th day of January, 1995, as amended as of June 11, 1996
and September 6, 1996, by and among
RIDGEVIEW, INC., a North Carolina corporation (the
"Grantor");
XXXXXXXXXXX X. XXXXX, a resident of Charlotte, North
Carolina (the "Trustee"); and
NATIONSBANK, National Association (SOUTH), a national
banking association organized and existing under the laws of the
United States, having an office in Atlanta, Georgia (the
"Lender").
b. Sections 1.1, 1.2 and 1.3 are amended in their entirety so that
such Sections now read as follows:
1.1 The indebtedness secured by this Deed of Trust is the
result of revolving loans of up to $20,000,000.00 (the "Revolving
Loans") made from time to time by the Lender to the Grantor pursuant
to that certain Loan and Security Agreement, dated January 10, 1995,
as amended (the "Loan Agreement") and as evidenced by the terms of
the Revolving Credit Promissory Note, dated September 6, 1996,
executed by Grantor in favor of the Lender in the principal amount of
$20,000,000.00 (the "Note") (hereinafter the obligations of the
Grantor to the Lender under the Loan Agreement and the Note may be
referred to as the "Obligations").
1.2 Payment by the Grantor of the Obligations will be in
accordance with the Loan Agreement, the Note and this Deed of Trust
which require payment on the terms set forth therein.
1.3 This Deed of Trust secures the obligations of the Grantor
to repay the Revolving Loans to the Lender under the Loan Agreement
and the Note and all other obligations from time to time owing to the
Lender under the Loan Agreement. The amount of the present
disbursement secured hereby is Zero Dollars ($0) and the maximum
amount which may be secured hereby at any one time is Twenty Million
Dollars ($20,000,000.00). The time period within which future
disbursements under the Loan Agreement are to be made is the period
between the date hereof and the date fifteen (15) years from the date
hereof. The making of future disbursements under the Loan Agreement
is non-obligatory within the
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meaning of such term in Section 45-70(a), North Carolina General
Statutes. Disbursements secured hereby shall not be required to be
evidenced by a "written instrument or notation" as described in
Section 45-68(2) of the North Carolina General Statutes, it being the
intent of the parties that the requirements of Section 45-68(2) for a
"written instrument or notation" for each advance shall not be
applicable to disbursements made under the Loan Agreement and the
Note.
2. Except as hereby modified, the terms and conditions of the Deed of
Trust (and Exhibit) remain in full force and effect.
3. This Second Amendment shall be deemed to be a contract under, and for
all purposes construed in accordance with, the internal laws and judicial
decisions of the State of North Carolina.
IN WITNESS WHEREOF, the undersigned Grantor, Trustee and Lender have
caused these presents to be executed under seal as of the day and year first
above written.
RIDGEVIEW, INC.
ATTEST:
By: /s/ Xxxxx Xxxxxxx Xxxxx By: /s/ Xxxx X. Xxxxxxx
Title: Asst. Secretary Title: President & CEO
(Corporate Seal)
/s/ Xxxxxxxxxxx X. Xxxxx (SEAL)
Xxxxxxxxxxx X. Xxxxx
NATIONSBANK, National Association
(SOUTH)
ATTEST:
By: /s/ Xxxxx X. X'Xxxxxx By: /s/ Xxxxx Xxxxxxxxx
Title: Asst. Secretary Title: VP
(Corporate Seal)
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STATE OF NORTH CAROLINA
COUNTY OF CATAWBA
I, Xxxxx X. Xxxxx, a Notary Public of the State and County aforesaid,
certify that Xxxxx Xxxxxxx Xxxxx personally came before me this day and
acknowledged that (s)he is the Asst. Secretary of RIDGEVIEW, INC., a North
Carolina corporation, and that by authority duly given and as the act of the
corporation, the foregoing instrument was signed in its name by its CEO &
President, sealed with its corporate seal and attested by Xxxxx Xxxxxxx Xxxxx
as its Asst. Secretary.
Witness my hand and official stamp or seal, this 16th day of September,
1996.
/s/ Xxxxx X. Xxxxx
Notary Public
My Commission Expires:
2-3-97
(Notary Public)
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STATE OF NORTH CAROLINA
COUNTY OF MECKLENBURG
I, Xxxxxx Xxxx Xxxxxx, a Notary Public of the aforesaid County and State,
do hereby certify that Xxxxxxxxxxx X. Xxxxx, Trustee, personally appeared
before me this day and acknowledged the execution of the foregoing instrument.
Witness my hand and notarial seal this 23rd day of September, 1996.
/s/ Xxxxxx Xxxx Xxxxxx
Notary Public
My Commission Expires:
14 March 1998
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STATE OF GEORGIA
COUNTY OF XXXXXX
I, Xxxxx X. Xxxxx, a Notary Public of the State and County aforesaid,
certify that Xxxxx X. X'Xxxxxx personally came before me this day and
acknowledged that (s)he is the Asst. Secretary of NATIONSBANK, National
Association (SOUTH), a national banking association and that by authority duly
given and as the act of the national bank, the foregoing instrument was signed
in its name by its Vice President, sealed with its corporate seal and attested
by Xxxxx X. X'Xxxxxx as its Asst. Secretary.
Witness my hand and official stamp or seal, this 19th day of September,
1996.
/s/ Xxxxx X. Xxxxx
Notary Public
My Commission Expires:
5/5/00
(Notary Public)
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