Exhibit 4.12 Letter Agreement dated July 7, 1998
July 7, 1998
Xx. Xxxxxx X'Xxxxx
Terra Firma Construction Management & General
000 Xxxx 000xx Xxxxxx
Xxxxx, XX 00000
Dear Xx. X'Xxxxx:
This letter will confirm our agreement to extend the Due Date of the
above-referenced Promissory Note ("Note") from June 11, 1998 to August 1, 1998.
All references in the Note to the "Due Date," including those in Section 4(a)
thereof relating to conversion of the Note, shall refer to the new Due Date of
August 1, 1998; provided, however, that the Note shall bear interest from the
original June 11, 1998 due date at a rate of eighteen percent (18%) per annum
until paid in full.
Please confirm your agreement to the foregoing by signing and returning a
copy of this letter to the undersigned by telefax at (000) 000-0000.
Very truly yours,
/s/ Xxxx Xxxxxx
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Xxxx Xxxxxx
Chairman of the Board
The foregoing is hereby
agreed to and accepted:
/s/ Xxxxxx X'Xxxxx
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Xxxxxx X'Xxxxx
