Exhibit 10.10
AMENDMENT NO. 1
TO
$6.2 MILLION CREDIT AGREEMENT
THIS AMENDMENT is dated as of December 18, 2006, and relates to the
$6,200,000 Credit Agreement dated as of November 22, 2006, among STANFORD
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").
1. Terms defined in the Credit Agreement are used herein as defined
therein.
2. Section 2.3 of the Agreement is hereby amended to replace $4.3
million with $5.42 million.
3. Except as expressly amended herein, all terms and provisions of the
Agreement shall remain in full force and effect.
"BORROWERS"
AMERICAN LEISURE HOLDINGS, INC.,
By:/s/ Xxxxxxx X. Xxxxxx
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Its: Chief Executive Officer
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Address: 0000 Xxxx Xxxx Xxxx, Xxxxxxx, XX 00000
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TIERRA DEL SOL RESORT (PHASE 2), LTD
By: /s/ Xxxxxxx X. Xxxxxx
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Its: Manager of its General Partner
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Address:2460 Xxxx Xxxx Xxxx, Xxxxxxx, XX 00000
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COSTA XXXXXX XX REAL ESTATE, LLC
By: /s/ Xxxxxxx X. Xxxxxx
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Its: Manager
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Address: 0000 Xxxx Xxxx Xxxx, Xxxxxxx, XX 00000
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XXXXX XXXXXX III REAL ESTATE, LLC
By: /s/ Xxxxxxx X. Xxxxxx
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Its: Manager
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Address: 0000 Xxxx Xxxx Xxxx, Xxxxxxx, XX 00000
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TDS TOWN HOMES (PHASE 2), LLC
By: /s/ Xxxxxxx X. Xxxxxx
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Its: Manager
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Address: 0000 Xxxx Xxxx Xxxx, Xxxxxxx, XX 00000
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TDS CLUBHOUSE, INC.
By: /s/ Xxxxxxx X. Xxxxxx
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Its: President
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Address: 0000 Xxxx Xxxx Xxxx, Xxxxxxx, XX 00000
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"LENDER"
STANFORD VENTURE CAPITAL HOLDINGS, INC.
By:
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Its:
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Address:
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