AMENDMENT TO 6% PROMISSORY NOTE
Exhibit
10.37b
AMENDMENT
TO
AMENDMENT
TO 6% PROMISSORY NOTE, is dated as of September
18, 2008;
made by
and between Delta Mutual, Inc., a Delaware corporation, with its principal
offices located at 000 Xxxxx Xxxxxx Xxxxxx, Xxxxxxxxxxxx, XX 00000 (the
“Company”) and Security Systems International, Inc., a Delaware corporation,
(the “Lender”) with a mailing address of 0000 Xxxx Xxxxxxxxx Xxxx, Xxxxxxxxxx,
XX 00000. Capitalized terms used herein and not otherwise defined herein shall
have the meaning assigned to such term in the Original Note.
WHEREAS,
the Company and the Lender are parties to that certain 6% Promissory Note,
dated
March 6, 2008 (the “Original Note”), pursuant to which the Company has borrowed
the amount of $100,000
from the
Lender;
WHEREAS,
the Original Note provides that the Maturity Date shall be September 6, 2008;
and
WHEREAS,
the Company and the Lender have agreed to extend the Maturity Date and to amend
Section 1.4 of the Original Note; and
WHEREAS,
in accordance with the terms and conditions of the Original Note, the Company
and the Lender 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 Company and the Lender
agree that Section 1.4 of the Original Note is hereby amended to read in its
entirety as follows: “Maturity
Date”
shall
mean December
15, 2008; and
2. Except
as
expressly provided herein, the Original Note shall continue in full force and
effect.
3. This
AMENDMENT may be executed by facsimile and in counterparts, which, taken
together, shall be deemed an original and shall constitute a single
AMENDMENT.
IN
WITNESS WHEREOF, the Company and the Lender have caused this AMENDMENT to be
executed as of the date first written above.
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DELTA
MUTUAL, INC.
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SECURITY
SYSTEMS INTERNATIONAL, INC.
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(COMPANY)
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(LENDER)
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By:
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/s/
Xxxxxx X. Xxxxxx
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By:
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/s/
Xxxxxxx X. Xxxxxxx
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Xxxxxx
X. Xxxxxx
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Xxxxxxx
X. Xxxxxxx
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Xx.
Vice President
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President
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