ENDORSEMENT TO NOTE B
DATED
AS OF AUGUST 23, 1996
Pursuant to that certain Amendment No. 1 to Amended and Restated Loan
Restructuring Agreement dated as of the date hereof (the "Amendment") by and
among New Energy Company of Indiana Limited Partnership (the "Partnership"),
New Energy Corporation of Indiana, an Indiana corporation and General Partner
of the Partnership (the "General Partner") and The United States of America,
acting by and through the Secretary of Energy (the "Secretary"), the Secretary
has agreed to the terms of the Amendment to the Amended and Restated Loan
Restructuring Agreement dated as of December 23, 1991, by and among the
Partnership, the General Partner and the Secretary (the "Loan Agreement" and,
together with the Amendment, herein called the "Agreement"), on the condition
that, inter alia, (i) the Partnership borrow from the Great American Insurance
----- ----
Company, or one of its affiliates (the "GAIC") up to $10,000,000 (the "GAIC
Loan") and from the General Partner $500,000 and (ii) the aggregate amount of
any Note A principal and interest payments not paid be added to the
outstanding principal amount of Note B by way of this endorsement; provided,
however, in the event that the Partnership has not repaid the GAIC Loan by
December 31, 1996, the Secretary has agreed to allow the unpaid principal and
interest payments on Note A to be added to the outstanding principal amount of
Note B for a further twelve (12) months and be due and payable under the terms
of Note B.
Terms used herein but not otherwise defined herein shall have the same
meaning ascribed to them in the Agreement.
This Endorsement to Note B shall be deemed to be a contract made under
the federal laws of the United States and for all purposes shall be governed
by and construed in accordance with the federal laws of the United States.
IN WITNESS WHEREOF, the Partnership has caused this Endorsement to Note B
to be duly executed and delivered by a Responsible Officer of its General
Partner thereunto duly authorized as of the 23rd day of August, 1996.
NEW ENERGY COMPANY OF INDIANA
LIMITED PARTNERSHIP, an Indiana
limited partnership
By its General Partner
NEW ENERGY CORPORATION OF
INDIANA, an Indiana
corporation
By: /s/ Xxxxx X. Xxxxxxxxx
-----------------------
Its: President
- 2 -
