AMENDMENT NO. 2 TO $6.2 MILLION CREDIT AGREEMENT
Exhibit
10.135
AMENDMENT
NO. 2
TO
$6.2
MILLION CREDIT AGREEMENT
THIS
AMENDMENT is
dated
as of January 31, 2007, and relates to the $6,200,000 Credit Agreement dated
as
of November 22, 2006, as amended as of December 22, 2006, among STANFORD
VENTURE CAPITAL HOLDINGS, INC.,
a
Delaware corporation, as Lender and AMERICAN
LEISURE HOLDINGS, INC.,
a
Nevada corporation (“ALHI”), TIERRA
DEL SOL RESORT (PHASE 2), LTD., a
Florida
limited partnership, COSTA
XXXXXX XX REAL ESTATE, LLC, a
Florida
limited liability company, XXXXX
XXXXXX III REAL ESTATE, LLC, a
Florida
limited liability company, TDS
TOWN HOMES (PHASE 2) LLC,
a
Florida limited liability company, and TDS
CLUBHOUSE, INC.,
a
Florida corporation, as Borrowers (the “Agreement”).
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1.
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Terms
defined in the Agreement are used herein as defined
therein.
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2.
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Section
2.1 of the Agreement is hereby amended to increase the gross Loan
amount
from $6,200,000 to $7,300,000, and Exhibit “B” is hereby amended to read
as set forth in the updated Exhibit “B” of even date attached
hereto.
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3.
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Section
2.2 of the Agreement is hereby amended to provide that interest on
the
Note will be payable quarterly in arrears on the 10th
day following the end of each calendar quarter, with a maturity date
of
June 30, 2007.
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4.
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Section
2.3 of the Agreement is hereby amended to replace $5.42 million with
$7.3
million.
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5.
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Except
as expressly amended herein, all terms and provisions of the Agreement
shall remain in full force and effect.
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“BORROWERS”
By:
/s/
Xxxxxxx X. Xxxxxx
Its:
CEO
Address:
0000 Xxxx Xxxx Xx., Xxxxxxx, XX 00000
TIERRA
DEL SOL RESORT (PHASE 2), LTD
By:
/s/ Xxxxxxx X. Xxxxxx
Its:
Address:
0000 Xxxx Xxxx Xx., Xxxxxxx, XX 00000
COSTA
XXXXXX XX REAL ESTATE, LLC
By:
/s/
Xxxxxxx X. Xxxxxx
Its:
Manager
Address:
0000 Xxxx Xxxx Xx., Xxxxxxx, XX 00000
XXXXX
XXXXXX III REAL ESTATE, LLC
By:
/s/
Xxxxxxx X. Xxxxxx
Its:
Manager
Address:
0000 Xxxx Xxxx Xx., Xxxxxxx, XX 00000
TDS
TOWN HOMES (PHASE 2), LLC
By:
/s/
Xxxxxxx X. Xxxxxx
Its:
Manager
Address:
0000 Xxxx Xxxx Xx., Xxxxxxx, XX 00000
TDS
CLUBHOUSE, INC.
By:
/s/ Xxxxxxx X. Xxxxxx
Its:
President
Address:
0000 Xxxx Xxxx Xx., Xxxxxxx, XX 00000
"LENDER”
STANFORD
VENTURE CAPITAL HOLDINGS, INC.
By:
Its:
Address:
