EXHIBIT 10.46.1
(COLUMBIANA COUNTY PORT AUTHORITY LETTERHEAD)
February 26, 2003
Xxxxxx X. XxxXxxxxx, Xx. Vice President
Probex Corporation
00000 Xxxxxx Xxxx. Xx.
Xxxxxxx, XX 00000
Dear Xxxxxx:
The Columbiana County Port Authority will authorize an extension of the
lease purchase agreement until May 31, 2003 with payments due deferred until the
option is exercised. However, the option renewal payment will not be credited
toward the acquisition. All accumulated payments will be due upon execution of
the option agreement.
If you are in agreement with the above terms and conditions, please
sign below and return to our office.
Yours truly,
Xxxxx X. Xxxxx
Executive Director
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Xxxxxx XxxXxxxxx Date
Sr. Vice President
TVD/sls
