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EXHIBIT 10.07
AMENDMENT TO SECURED BALLOON PAYMENT
BRIDGE LOAN PROMISSORY NOTE
THIS AMENDMENT TO SECURED BALLOON PAYMENT BRIDGE LOAN PROMISSORY NOTE (this
"Amendment") is made this 29 day of May, 2001 by and between INTUIT INC., a
Delaware corporation ("Intuit"), and XXXXXX X. XXXXXXXX and XXXXX XXXXXXXX,
husband and wife (collectively, "Borrowers").
RECITALS
A. Borrowers have executed and delivered to Intuit that certain Secured
Balloon Payment Bridge Loan Promissory Note dated as of October 16, 2000 in the
original principal amount of $1,305,000.00 (as amended, extended, replaced,
renewed, restated or otherwise modified from time to time, the "Note"). The Note
is secured by that certain Deed of Trust with Assignment of Rents dated as of
October 16, 2000 and recorded October 17, 2000 in the Official Records of San
Diego County, California, as Instrument Number _____________.
B. Borrowers and Intuit have agreed to extend the Maturity Date (as
defined in the Note) as provided herein.
NOW, THEREFORE, for good and valuable consideration, the receipt and
sufficiency of which are hereby acknowledged, Borrowers and Intuit hereby agree
as follows:
1. Amendment to Note. The Note is hereby amended by deleting the
reference to "April 12, 2001 (the "Maturity Date")" set forth in paragraph 1 of
the Note and substituting therefor a reference to "July 31, 2001 (the "Maturity
Date")".
2. Confirmation of Principal Balance. The parties acknowledge and agree
that as of the date of this Amendment, the outstanding principal balance under
the Note is $1,305,000.00.
3. Ratification of Note. Except as specifically amended hereby, all of
the provisions of the Note shall remain unamended and in full force and effect.
Borrowers hereby ratify, affirm, acknowledge and agree that the Note, as amended
hereby, represents a valid and enforceable obligation of the Borrowers.
4. Governing Law. This Amendment shall be governed by and construed in
accordance with the laws of the State of California.
5. Severability. If any term, provision, covenant or condition of this
Amendment or any application thereof should be held by a court of competent
jurisdiction to be invalid, void or unenforceable, all terms, provisions,
covenants and conditions hereof and all applications thereof not held invalid,
void or unenforceable shall continue in full force and effect and shall in no
way be affected, impaired or invalidated thereby.
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6. Successors and Assigns. The provisions of this Amendment shall be
binding upon and inure solely to the benefit of Intuit and Borrowers, and their
respective heirs, legal representatives, successors and assigns.
7. Counterparts. This Amendment may be executed in any number of
counterparts, each of which shall be an original but all of which together shall
constitute one agreement.
IN WITNESS WHEREOF, Borrowers and Intuit have executed this Amendment as
of the date first set forth above.
BORROWERS:
/s/ Xxxxxx X. Xxxxxxxx
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XXXXXX X. XXXXXXXX
/s/ Xxxxx Xxxxxxxx
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XXXXX XXXXXXXX
INTUIT:
INTUIT INC.,
a Delaware corporation
By: /s/ Xxxxxxx X. Xxxxxxx
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Name: Xxxxxxx X. Xxxxxxx
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Title: President and Chief Executive
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Officer
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