Exhibit 10.61
[LOGO]
One Citizens Plaza SECURED PROMISSORY NOTE
Providence, Rhode Island 02903
SECURED PARTY: CITIZENS LEASING CORPORATION DEBTOR: DM Management Company
Xxx Xxxxxxxx Xxxxx
Xxxxxxxxxx, Xxxxx Xxxxxx 02903 Address: 00 Xxxxxxxxxx Xxxx Xxxxx
(401)456-0000 Xxxxxxx, XX 00000
Telephone: (000)000-0000
1. Secured Party and Debtor have entered into a Master Security Agreement
dated as of December 23, 1998, (the "Security Agreement"). To secure payment
of the indebtedness set forth below, including the Principal Amount set forth
below, and the performance of all obligations contained herein, Debtor hereby
grants to Secured Party, its successors and assigns, a security interest in
the property set forth in Schedule A hereto, together with all attachments,
accessories, additions and accessions thereto, whether now existing or
hereafter acquired, all replacements and substitutions therefor, and all
proceeds thereof (all hereinafter referred to collectively as the
"Equipment").
2. Principal Amount. The original Principal Amount of this Note is:
$2,913,835.83.
3. a. Term. The Term of this Note is 84 months commencing on the Term
Commencement Date as set forth in the Note Acceptance Certificate to this Note
plus any partial period between the Acceptance Date of the Equipment as set
forth in the Note Acceptance Certificate and the Term Commencement Date.
b. Payments. Debtor hereby promises to pay the Principal Amount to
Secured Party and Interest thereon as follows:
(i) Interest only on the Term Commencement Date in an amount equal to
$606.07 multiplied by the number of days between the Acceptance Date up to and
including the Term Commencement Date.
(ii) Thereafter, the Principal Amount, together with interest thereon
at the fixed rate of 7.50 % per annum, shall be payable in (check one) [X]
advance/[ ] arrears in consecutive (check one) [X] monthly/[ ] quarterly
Installment Payments commencing on the 1st day of January 1999 and thereafter on
the same day of each successive (check one) [X] month/[ ] quarter inclusive
until fully paid, provided that the final installment shall be in the amount of
the unpaid balance hereof together with any accrued interest and late charges.
Interest shall be calculated based on the actual number of days elapsed over
twelve (12) thirty (30) day months.
The amount of each Installment Payment hereunder is as follows:
Amount of Each
Installment Nos. Installment Payment
1 - 83 $44,415.62
84 All remaining principal
and accrued interest
c. Xxxxxx agrees to pay Secured Party, in advance, the first Installment
Payment.
d. Secured Party acknowledges receipt from Debtor of a payment in the
amount of $ N/A to be held by Secured Party as a deposit to secure Xxxxxx's
performance hereunder.
4. The Equipment will be located at the locations specified in Schedule A
hereto.
5. This Note is secured by the Equipment, as set forth in Schedule A hereto
and as further defined in the Security Agreement, the terms and conditions of
which are incorporated herein by reference. This Note is one of the "Notes"
referred to in the Security Agreement.
Dated: December 23, 1998
SECURED PARTY: DEBTOR:
CITIZENS LEASING CORPORATION DM Management Company
By: By:
/s/ Xxxx Xxxxx /s/ Xxxxx X. Xxxx
----------------------------- --------------------------------
Title: Title:
Vice President VP Finance
----------------------------- --------------------------------
[LETTERHEAD]
CITIZENS LEASING CORPORATION NOTE ACCEPTANCE CERTIFICATE
Xxx Xxxxxxxx Xxxxx
Xxxxxxxxxx, Xxxxx Xxxxxx 00000
Note Acceptance Certificate to Secured Promissory Note dated 12/23/98,
(the "Note") to Master Security Agreement dated 12/23/98, (the "Security
Agreement"), by and between DM Management Company as Debtor, and CITIZENS
LEASING CORPORATION as Secured Party.
1. Debtor hereby acknowledges that the Equipment set forth on Schedule A
hereto (the "Equipment") is hereby unconditionally accepted by the Debtor for
all purposes under the above-referenced Note and hereby agrees to faithfully
perform all of its obligations under the Note as of the date hereof. Debtor
hereby also reaffirms all of its representations, warranties and covenants as
set forth in the Security Agreement and in the Note as of the hereof and
certifies that no event or condition has occurred and is continuing which
constitutes an Event of Default under the Security Agreement or the Note or
would constitute such an Event of Default with the passage of time and/or
giving of notice.
2. Debtor represents and warrants the (i) the Equipment has been
delivered and is in an operating condition and performing the operation for
which it is intended to the satisfaction of the Debtor; and (ii) if requested
by the Secured Party, the Equipment has been marked or labeled evidencing the
Secured Party's interest therein.
3. Debtor hereby agrees to pay Secured Party the Installment Payments,
as set forth in the Note, at the times and in the manner set forth in the
Note.
4. The Principal Amount of the Note is: $2,913,835.83.
5. The Term Commencement Date is the 1st day of January, 1999.
Dated: December 23, 1998 DEBTOR: DM Management Company
(the "Acceptance Date")
By: /s/ Xxxxx X. Xxxx
------------------------------
Title: VP Finance
---------------------------
Agreed and Accepted:
CITIZENS LEASING CORPORATION
By: /s/ Xxxx Xxxxx
-------------------------------
Title: Vice President
----------------------------
SCHEDULE A EQUIPMENT
Page 1 of 6
LESSOR: CITIZENS LEASING CORPORATION LESSEE: DM Management Company
a Rhode Island corporation a Delaware Corporation
("Lessor") ("Lessee")
ADDRESS: One Citizens Plaza ADDRESS: 00 Xxxxxxxxxx Xxxx Xxxxx
Xxxxxxxxxx, XX 00000 Xxxxxxx, XX 00000
Attached to and made a part of the following documents: Secured
Promissory Note, Note Acceptance, Uniform Commercial Code Financial
Statements and Consent and Waiver by Owner, Landlord or Mortgagee of Real
Estate.
QTY MANUFACTURER, DESCRIPTION MODEL NO./SERIAL NO. LOCATION
--- --------------------------------------------- --------
12 Xxxxxxxx St.
Tilton, NH 03276
(1) American Baler Model 6042HAT-930R
(36) Coils of 10 gauge Baling Wire
ABOVE EQUIPMENT DISTRIBUTED BY: AQUEST CORPORATION
(1) M8010 Sweeper/Scrubber, Rider Midel 8010 S/N: 8010-218
Machine as equipped:
8010 Battery Sweeper Scrubber
36338 Batt/Chg Pkg. Ext Run, 1PH, 60HZ
87419 Brush, Side Polypropylene
363868 Brush, Main, Polypropylene
363012 Maxpro 1200 Scrub Head
30241 Brush, Non-scuff Poly f/MP1200
30241 Brush, Non-scuff Poly f/MP1200
08682-15 Det, 654 Heavy Duty, 15 Gal
363019 Es+Extended Scrubbing
48600 Wand, off Aisle Power
363455 Light Pkg, Revolving, OHG
(1) M5700 Scrubber, Walk Behing Model 5700 S/N: 5700-11109
Machine as equipped:
5700 Scrubber, Walk Behind
222342 Scrubhead, 700D, 28" Disk
222803 Squeegee Assy. 700D/700C
222359 Battery, 235AH Wet
374014 Charger, 115V, 20A, 1PH, 60HZ
222320 Brush, Polypropylene 700D
222611 Power Wand, off-Aisle
ABOVE EQUIPMENT DISTRIBUTED BY: TENNANT
(1) CubiScan 100L S/N: XXX000000
(1) Mobile Cart-A
(1) Computer Shuttle Arm-S
(1) PW800 Inverter/TC20 Charger/Cables
(1) Portable Power System (PW800-TC20)
ABOVE EQUIPMENT DISTRIBUTED BY: QUANTRONIX
(2) Composee Turbo 2 Keyboard Wedge
(2) Serial Input Cable
(2) BM 3287 Terminal Cable Set
(2) External Power Supply
(2) SC QuickScan 600 Scanner w/cabling
(1) Custom QBIT Interface
ABOVE EQUIPMENT DISTRIBUTED BY: QUANTRONIX
SCHEDULE A EQUIPMENT
Page 2 OF 6
LESSOR: CITIZENS LEASING CORPORATION, LESSEE: DM Management Company
a Rhode Island corporation a Delaware corporation
("Lessor") ("Lessee")
ADDRESS: One Citizens Plaza ADDRESS: 00 Xxxxxxxxxx Xxxx Xxxxx
Xxxxxxxxxx, XX 00000 Xxxxxxx, XX 00000
Attached to and made a part of the following documents: Secured
Promissory Note, Note Acceptance. Uniform Commercial Code Financial
Statements and Consent and Waiver by Owner. Landlord or Mortgagee of Real
Estate.
MANUFACTURER, DESCRIPTION,
QTY MODEL NO./SERIAL NO. LOCATION
--- ------------------------- --------
00 Xxxxxxxx Xx.
Xxxxxx, XX 00000
(0) 0000-0000 00-00000 Boom Lift 30-45 ELEC N40 ELC
S/N: 0300039334
(0) 0000-0000-00-0000 Personnel Lifts PERS LFT 25AMDC
S/N: 0900012248
ABOVE EQUIPMENT DISTRIBUTED BY ACTION EQUIPMENT
(6) Crown PTH50-27-48 Hand Pallet Jacks S/N: 7-142882
7-142883
7-142884
7-142885
7-142886
7-142887
ABOVE EQUIPMENT DISTRIBUTED BY CROWN TRUCKS
(1) T20497 EASI-Orderpicker Model OPC30TT S/N: EASI-98-AT20497
(1) T20498 EASI-Orderpicker Model OPC30TT S/N: EASI-98-AT20498
(1) T20499 EASI-Orderpicker Model OPC30TT S/N: EASI-98-AT20499
(1) T20500 EASI-Orderpicker Model OPC30TT S/N: EASI-98-AT20500
(1) T20501 EASI-Orderpicker Model OPC30TT S/N: EASI-98-AT20501
(1) T20502 EASI-Orderpicker Model OPC30TT S/N: EASI-98-AT20502
(1) T20503 EASI-Orderpicker Model OPC30TT S/N: EASI-98-AT20503
(1) T20504 EASI-Orderpicker Model OPC30TT S/N: EASI-98-AT20504
(1) T20505 EASI-Orderpicker Model OPC30TT S/N: EASI-98-AT20505
(1) T20506 EASI-Orderpicker Model OPC30TT S/N: EASI-98-AT20506
(1) BN8691 Battery Model 18-E155W-11 S/N: AWG108691
(1) BN8692 Battery Model 18-E155W-11 S/N: AWG108692
(1) BN8693 Battery Model 18-E155W-11 S/N: AWG108693
(1) BN8694 Battery Model 18-E155W-11 S/N: AWG108694
(1) BN8695 Battery Model 18-E155W-11 S/N: AWG108695
(1) BN8696 Battery Model 18-E155W-11 S/N: AWG108696
(1) BN8697 Battery Model 18-E155W-11 S/N: AWG108697
(1) BN8698 Battery Model 18-E155W-11 S/N: XXX000000
(1) BN8699 Battery Model 18-E155W-11 S/N: AWG108699
SCHEDULE A EQUIPMENT
Page 3 of 6
LESSOR: CITIZENS LEASING CORPORATION LESSEE: DM Management Company
a Rhode Island corporation a Delaware Corporation
("Lessor") ("Lessee")
ADDRESS: One Citizens Plaza ADDRESS: 00 Xxxxxxxxxx Xxxx Xxxxx
Xxxxxxxxxx, XX 00000 Xxxxxxx, XX 00000
Attached to and made a part of the following documents: Secured
Promissory Note, Note Acceptance, Uniform Commercial Code Financial
Statements and Consent and Waiver by Owner, Landlord or Mortgagee of Real
Estate.
MANUFACTURER, DESCRIPTION,
QTY MODEL NO./SERIAL NO. LOCATION
--- -------------------------- --------
12 Xxxxxxxx St.
Tilton, NH 03276
(1) BN8700 Battery Model 18-E155W-11 S/N: AWG108700
(1) BN8701 Battery Model 18-E155W-11 S/N: AWG108701
(1) BN8702 Battery Model 18-E155W-11 S/N: AWG108702
(1) BN8703 Battery Model 18-E155W-11 S/N: AWG108703
(1) BN8704 Battery Model 18-E155W-11 S/N: AWG108704
(1) BN8705 Battery Model 18-E155W-11 S/N: AWG108705
(1) BN8706 Battery Model 18-E155W-11 S/N: XXX000000
(1) BN8707 Battery Model 18-E155W-11 S/N: AWG108707
(1) BN8708 Battery Model 18-E155W-11 S/N: AWG108708
(1) BN8709 Battery Model 18-E155W-11 S/N: AWG108709
(1) BN8710 Battery Model 18-E155W-11 S/N: AWG108710
(1) CN1941 Charger Model D3E-18-850B S/N: WF91941
(1) CN2620 Charger Model D3E-18-850B S/N: WF92620
(1) CN2621 Charger Model D3E-18-850B S/N: WF92621
(1) CN2622 Charger Model D3E-18-850B S/N: WF92622
(1) CN2623 Charger Model D3E-18-850B S/N: WF92623
(1) CN2624 Charger Model D3E-18-850B S/N: WF92624
(1) CN2625 Charger Model D3E-18-850B S/N: WF92625
(1) CN2629 Charger Model D3E-18-850B S/N: WF92629
(1) CN2633 Charger Model D3E-18-850B S/N: WF92633
(1) CN2682 Charger Model D3E-18-850B S/N: WF92682
(1) BN8687 Battery Model 18-E140-17 S/N: AWG108687
(1) BN8688 Battery Model 18-E140-17 S/N: AWG108688
(1) BN8689 Battery Model 18-E140-17 S/N: AWG108689
(1) BN8690 Battery Model 18-E140-17 S/N: AWG108690
(1) CN2771 Charger Model D3E-18-1200B S/N: WF92771
(1) CN2772 Charger Model D3E-18-1200B S/N: WF92772
(1) Smlss Steel Drip Pa
(1) UPC Charge, Batt Sys
(1) HP Watering System
(1) Wire Guide System
(1) T10530 EASI Reach Forkltruck Model EASIR45TT S/N: EZ-B-98-10530
(1) T10536 EASI Reach Forktruck Model EASIR45TT S/N: EZ-B-98-10536
ABOVE EQUIPMENT DISTRIBUTED BY XXXXXX XXXX & CO., INC.
SCHEDULE A EQUIPMENT
Page 4 of 6
LESSOR: CITIZENS LEASING CORPORATION LESSEE: DM Management Company
a Rhode Island corporation a Delaware corporation
("Lessor") ("Lessee")
ADDRESS: One Citizens Plaza ADDRESS: 00 Xxxxxxxxxx Xxxx Xxxxx
Xxxxxxxxxx, XX 00000 Xxxxxxx, XX 000000
Attached to and made a part of the following documents: Secured
Promissory Note, Note Acceptance. Uniform Commercial Credit Code Financial
Statements and Consent and Waiver by Owner, Landlord or Mortgagee of Real
Estate.
MANUFACTURER, DESCRIPTION,
QTY MODEL NO./SERIAL NO. LOCATION
--- ------------------------- --------
12 Xxxxxxxx St.
Tilton, NH 03276
(1) 000063 Wildeck Mezzanine System
(Phase I
(1) 000068 Wildeck Mezzanine System
Phase II
(1) 000070 Wildeck Mezzanine System
Phase III
(1) 000294 Vertical Reciprocating Conveyr
ABOVE EQUIPMENT DISTRIBUTED BY WILDECK, INC.
PALLET/CASE/RAI/RACK
PHASE I
Layout 41 Bays 96" w. 48"d x 84"h with 4 beam levels
Steel king Tulukar
55 RTFAP048084 Uprights - 3" X 1 5/8" x 48"d x 84"h
Capacity: 16,720# on 48" vertical centers
328 SBRXL300095 Step Beams - 3:h x 96"l x 1,448#capacity
328 WIRE DECKS 46"w x 48"d X 2" x 4" x 4GA. X 300#
PHASE II
SELECTIVE PALLET RACK
---------------------
Layout: 75 Bays 144"w x 42"d x 345"/407"h with 6 levels (floors + 5 beam levels)
8 RTFBW042407 End Uprights - 3" x 3" x 42"d x 407"h
BASEPLATES 5" x 7" X 3/8" FOR Zone 2A
Capacity: 30,560# per new 1998 RMI
71 RTFBW042345 Int. Uprights - 3" x 3" x 42"d x 345"h
BASEPLATES 5" x 7" x 3/8" for Zone 2A
Capacity:30,560# per new 1997 RMI
750 SBRXP600144 Step Beams - 6" x 144"l x 6,780# Capacity
375 BTWSG042 42" Beam Ties (required on all beams 120"+)
316 ANCHORS 1/2" x 3 3/4"
6 AISLE MARKERS 12" x 12" at all row ends
48 RSR3G018 Row Spacers - 18"
2 STEEL GUARD 102"L x 18"h
2#GR09 2 1/2" deep x 14"h x 11 Ga. X 102"L+C52
0XXX0X000 Free Standing Column Protector at S. Rows
RESERVE CARTON RACK
-------------------
Layout: 225 Bays - 144 w x 60"d x 384"h with 11 beam levels
30 RTFAP060417 End Uprights - 3" x 1 5/8" x 60"d x 417"h
BASEPLATES 5" x 7" x 3/8" for Zone 2A
Capacity: 16,703# per new 1998 RMI
210 RTFAP060384 Int. Uprights - 3" x 1 5/8" x 60"d x 384"h
BASEPLATES x3/8 for Zone 2A
Capacity: 16,730#per new 1998 RMI
SCHEDULE A EQUIPMENT
Page 5 of 6
LESSOR: CITIZENS LEASING CORPORATION, LESSEE: DM Management Company
a Rhode Island corporation a Delaware corporation
("Lessor") ("Lessee")
ADDRESS: One Citizens Plaza ADDRESS: 00 Xxxxxxxxxx Xxxx Xxxxx
Xxxxxxxxxx, XX 00000 Xxxxxxx, XX 00000
Attached to and made a part of the following documents: Secured
Promissory Note, Note Acceptance, Uniform Commercial Code Financial
Statements and Consent and Waiver by Owner, Landlord or Mortgagee of Real
Estate.
MANUFACTURER, DESCRIPTION,
QTY. MODEL NO./ SERIAL NO. LOCATION
---- ------------------------- --------
00 Xxxxxxxx Xx.
Xxxxxx, XX 00000
4950 SBRXP400144 Step Beams-4"x 144"l x 1,870# capacity
960 ANCHORS 1/2"x 3 3/4"
4,950 WIRE DECKS 70"w x 60"d x 2" x 4" 4 GA x 1,200# ea.
30 AISLE MARKERS 12" x 12" at all row ends
30 STEEL GUARD 60"L x 18"H
60#SCL 4" x 4" x 1/4" Tube with 10"sq. x 5/8 Base
30#GRO5 2 1/3"Deep x 14"h x 11 Ga. X 60"L
ACTIVE CARTON RACK (Convertible to G.O.H Rack)
----------------------------------------------
Layout: 1079 Bays - 96"W x 48"d x 84"h with 4 beam levels
1,225 RTFAP048084 Uprights - 3" x 1 5/6 " x 48"d x 84"h
Capacity: 16,730# on 48"vertical centers
8,632 SBRXL300096 Step Beams - 3"h x 96"l x 1,448# capacity
2,450 ANCHORS 1/2" x 3 3/4"
160 AISLE MARKERS 12" x 12" at all row ends
4,904 WIRE DECKS 46"w x 48"d x 2" x 4" x 4Ga x 300#
ACTIVE CARTON FLOW RACK
-----------------------
Layout: 56 Bays - 96" w x 120"d x 96"h with 4 shelf levels (6 runways/12
tracks + 5 guides per shelf)
64 Frames Vertical Frames - 96"d x 96"h
128 ANCHORS 1/2" x 3 3/4"
168 SWAY BRACES 96"
224 shelf frames 96"W x 120"d x 1,200# capacity
1,344 RUNWAYS 2 pcs x 120" long
1,120 GUIDES 120"L
16 AISLE MARKERS 12" x 12" at all row ends
GARMENT ON HANGER RACKS (Convertible to Active Carton Rack)
-----------------------------------------------------------
Layout: 232 Runs - 56"L x 4'D with 50% two high & 50% one high
1,856 RTFAP048084 Uprights - 3" x 1 5/8" x 48"d x 84"h
Capacity: 16,730# on 48" vertical centers
3,248 SBRXL300096 Step Beam 3"h x 96"l x 1,448# capacity
3,712 ANCHORS 1/2" x 3 3/4"
60 PIPE HOLDERS Adjustable Brackets - 48"d
40,194 LN. FT. RAILS 1,315 x 14 ga. Zinc plated round tubing
Note 50% of runs include 2 levels high
SCHEDULE A EQUIPMENT
Page 6 of 6
LESSOR: CITIZENS LEASING CORPORATION LESSEE: DM Management Company
a Rhode Island corporation a Delaware Corporation
("Lessor") ("Lessee")
ADDRESS: One Citizens Plaza ADDRESS: 00 Xxxxxxxxxx Xxxx Xxxxx
Xxxxxxxxxx, XX 00000 Xxxxxxx, XX 00000
Attached to and made a part of the following documents: True Lease
Schedule, Acceptance Certificate, Bill of Sale and Uniform Commercial Code
Financial Statements.
MANUFACTURER, DESCRIPTION,
QTY MODEL NO./SERIAL NO. LOCATION
--- -------------------------- --------
12 Xxxxxxxx St.
Tilton, NH 03276
24,000 TEK SCREWS 1"
3,016 INSERTS 20" splices
1,392 CAPS Rubber End Caps
5,600 CLIPS For attachments of rail to rack
0 WIRE DECKS 3584 Supplied from Laconia Location
464 AISLE MARKERS 12" x 12" at all row ends
ABOVE EQUIPMENT DISTRIBUTED BY STEEL KING INDUSTRIES, INC.
(2 9491 SRIENPACKER TYPE S3960 S/N:
-----------------------
ABOVE EQUIPMENT DISTRIBUTED BY SET POINT
WITH ALL STANDARD ACCESSORY EQUIPMENT
SECURED PARTY: DEBTOR:
CITIZENS LEASING CORPORATION DM Management, Inc.
By: /s/ Xxxx Xxxxx By: /s/ Xxxxx X. Xxxx
--------------------------- ----------------------
Title: Vice President Title: VP Finance
------------------------ ---------------
[LETTERHEAD]
AUTHORIZATION TO CHARGE CHECKING ACCOUNT
TO: CITIZENS LEASING CORPORATION DATE: December 23, ,1998
One Citizens Plaza
Providence, RI 02903
Starting with my first payment which is due January 1, 1999*, and until
further notice, you are authorized to charge my checking account
No. each month on the due date of my Secured Promissory Note
dated 12/23/98 in the amount of $44,415.62 for the monthly payment then due.
Debtor:
DM Management Company
By: /S/ Xxxxx X. Xxxx
---------------------------
Title: VP Finance
------------------------
*The payment due January 1, 1999 will also include a one-time daily interest
charge based on the funding date and one-time Documentation Fees of $1,000.00
and $117.00 UCC Fees.
[LETTERHEAD]
XXXXXXXX'S AUTHORIZATION CERTIFICATE
DATE: December 23, 1998
-----------------
I (We) hereby authorize and direct CITIZENS LEASING CORPORATION to disburse
the proceeds of my (our) SECURED PROMISSORY NOTE dated December 23, 1998 for
$2,913,835.83 to be disbursed as follows:
TO: DM Management Company $2,913,835.83
---------------------
*In all cases, indicate the manner in which funds are to be disbursed. For
check payment indicate the check number. For direct deposit indicate account
number. For wire transfer indicate the bank to which the funds are to be sent
and the account number to be credited.
DEBTOR: DM Management Company
By: /s/ Xxxxx X. Xxxx
--------------------------
Title: VP Finance
-----------------------
December 23, 1998
Citizens Leasing Corporation
Xxx Xxxxxxxx Xxxxx
Xxxxxxxxxx, XX 00000
RE: Secured Promissory Note in an amount of $2,913,835.83 dated
December , 1998 and Secured Promissory Note in an amount of
$4,676,523.20 dated December , 1998, (collectively the "Notes")
to Master Security Agreement dated December 1998 between DM
Management Company (DM), as Debtor and Citizens Leasing Corporation
(CLC), as Secured Party.
Dear Sirs:
DM agrees to provide to CLC by January 31, 1999 proof of payment for the
following invoices in connection with the above-referenced Notes:
--Steel King--Invoice Nos. 93553 ($17,000), 94258 ($9,638) and 98831
($116,362).
--Set Point--Invoice Nos. 180186 ($83,771) and 172662 ($83,771)
--Unisource (division of Set Point)--Invoice Nos. 181370 ($160), 182440
($11,922.55), 183767 ($88,771)
--AM Xxxxxx Invoice No. 64944 ($74,773.03)
--Wildeck Invoice--evidence of payment for $23,658
In consideration of CLC agreeing to fund the Notes prior to receipt of the
above referenced evidence of payment, DM agrees to accept a buy back of the
Notes from CLC on or before January 31, 1999. CLC, may with not further
action required on its part, extend the deadline for receipt of all
outstanding issues.
If the foregoing correctly sets forth our agreement with respect to this
matter, please execute one copy of this letter in the place provided below
and return it to the undersigned.
Very truly yours,
DM MANAGEMENT COMPANY
By: /S/ Xxxxx X. Xxxx
-----------------------------
Title: VP Finance
--------------------------
Acknowledged and Agreed:
CITIZENS LEASING CORPORATION
By: /S/ Xxxx Xxxxx
-----------------------------
Title: Vice President
--------------------------
