NOTICE AND CONSENT TO MODIFICATION BY GUARANTOR
DATE AND PARTIES. The date of this Notice And Consent To Modification By
Guarantor (Notice) is May 25, 2006. The parties and their addresses are:
LENDER:
MERCANTILE EASTERN SHORE BANK (Successor in Merger to St. Michaels Bank)
000 Xxxx Xxxxxx
P.O. Box 60
Chestertown, Maryland 21620
Telephone: (000) 000-0000
BORROWER:
DCA OF VINELAND LLC
Building 0 Xxxxx 0x
Xxxx Xxxxxx Commons
0000 X. Xxxxxxxx Xxx.
Vineland, NJ 08361
GUARANTOR:
DIALYSIS CORPORATION OF AMERICA
0000 Xxxx 00xx Xxxxxx
Xxxxxxx, Xxxxxxx 00000
1. DEFINITIONS. In this Notice, these terms have the following meanings:
A. Pronouns. The pronouns "I," "me" and "my" refer to all persons or
entities signing this Notice, individually and together with their
heirs, successors and assigns. "You" and "your" refer to the Lender,
with its participants or syndicators, successors and assigns, or any
person or company that acquires an interest in the Modification or
Prior Obligation.
B. Modification. Modification refers to the Debt Modification Agreement
dated May 25, 2006 and executed by you and the Borrower.
C. Prior Obligation. Prior Obligation refers to the Borrower's existing
agreement to pay you money, dated November 2, 2000.
D. Guaranty. Guaranty refers to my previous agreement to absolutely and
unconditionally promise to pay you and guaranty to you the full and
prompt payment of the Prior Obligation.
2. NOTICE TO GUARANTOR. I acknowledge that the Borrower has requested a
modification to the terms of the Prior Obligation and that you have agreed to
modify the Prior Obligation, subject to the terms and conditions contained in
the Modification. A copy of the Modification is attached to this Notice.
3. CONSENT BY GUARANTOR. I unconditionally consent to the Modification.
Except to the extent that the Modification expressly modifies the terms and
conditions of the Prior Obligation, I acknowledge that the terms and
conditions of the Prior Obligation and the Guaranty continue in full force
and effect.
SIGNATURES. I agree to the terms contained in this Notice. I also
acknowledge receipt of a copy of this Notice.
GUARANTOR:
Dialysis Corporation of America
/s/ Xxxxxx X. Xxxxx
By ------------------------------
Xxxxxx X. Xxxxx, Vice president/Finance
