FIFTH AMENDMENT TO 4% CONVERTIBLE PROMISSORY NOTE
Exhibit
4.6e
FIFTH
AMENDMENT TO
FIFTH
AMENDMENT, dated as of April 4, 2007, TO 4% CONVERTIBLE PROMISSORY NOTE, dated
May 12, 2004, made by and between Delta Mutual, Inc., a Delaware corporation,
with its principal offices located at 000 Xxxxx Xxxxxx Xxxxxx, Xxxxxxxxxxxx,
XX
00000 (the “Borrower”) and Xxxx Xxxxxx, an individual, of 00000 Xx. Xxxxxxx
Xxxxxxxxx, # 000, Xxxx Xxxxx, XX 00000 (the “Holder”). Capitalized terms used
herein and not otherwise defined herein shall have the meaning assigned to
such
term in the Original Note.
WHEREAS,
the Borrower and the Holder are parties to that certain 4% Convertible
Promissory Note, dated May 12, 2004, as
amended,
(the
“Original Note”) pursuant to which the Borrower has borrowed the amount of
$193,740 from the Holder;
WHEREAS,
the Original Note provides that the Maturity Date shall be April 10, 2007;
and
WHEREAS,
the Borrower and the Holder have agreed to extend the Maturity Date and to
amend
Section 1.6 of the Original Note in order to provide the Borrower with
additional time to secure financing; and
WHEREAS,
in accordance with the terms and conditions of the Original Note, the Borrower
and the Holder hereby approve the amendment of the Original Note as set forth
herein.
NOW,
THEREFORE, in consideration of the foregoing and the mutual covenants contained
herein, the parties agree as follows:
1. By
their
respective execution of this AMENDMENT, the Borrower and the Holder
agree that Section 1.6 of the Original Note is hereby amended to read in its
entirety as follows: “Maturity Date” shall mean September 10,
2007.
2. Except
as
expressly provided herein, the Original Note shall continue in full force and
effect.
3. This
FIFTH AMENDMENT supercedes any and all prior written or oral agreements with
respect to the Original Note, and may be executed by facsimile and in
counterparts, which, taken together, shall be deemed an original and shall
constitute a single AMENDMENT.
SIGNATURE
PAGE FOLLOWS
IN
WITNESS WHEREOF, the Borrower and the Holder have executed this Fifth Amendment
as of the date first written above.
|
(BORROWER)
|
XXXX
XXXXXX
(HOLDER)
|
||
| By: /s/ Xxxxx Xxxxx | By: /s/ Xxxx Xxxxxx | ||
|
Xxxxx
X. Xxxxx
President
& CEO
|
Xxxx
Xxxxxx
|
