Exhibit 10.21
AMENDMENT TO LOAN AGREEMENT
Agreement dated as of October 11, 1996 by and between Royal
Canadian Foods Corp., a Delaware corporation, with offices at 0000 Xxxxxx
Xxxxxx, Xxx Xxxx, XX 00000 ("Borrower") and Century Funding, Inc., with offices
at 000 Xxxxxxxx Xxxxxx, Xxxxxxxx, XX 00000 ("Lender").
RECITALS
WHEREAS, Borrower owns and operates three restaurants
operating under the name "Royal Canadian Pancake House Restaurant".
WHEREAS, pursuant to a Loan Agreement dated August 11, 1995,
as amended August 30, 1996 (collectively referred to herein as the "Loan
Agreement") by and between Borrower and Lender, Lender agreed to loan Borrower
$300,000 to finance the opening of two new restaurants.
WHEREAS, Lender and Borrower now wish to amend certain terms
of the Loan Agreement in the manner set forth below.
NOW, THEREFORE, in consideration of the premises and other
good and valuable consideration, receipt of which is hereby acknowledged, the
parties hereto agree as follows:
1. Loan. Paragraph 1 of the Loan Agreement shall be amended to read in its
entirety as follows:
Lender shall lend $300,000.00 to Borrower, which funds shall be used by
Borrower in its operations.
2. Counterparts. This Agreement may be executed in any number of counterparts,
each of which shall be deemed an original but all of which together shall
constitute a single instrument.
IN WITNESS WHEREOF, the parties hereto have executed this
Agreement as of the date first above written.
ROYAL CANADIAN FOODS CORP.
By:_____________________________
Xxxxxxx Xxxxxxxx, President
CENTURY FUNDING, INC.
By:_____________________________
Xxxxx Xxxxxxx, President
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