AMENDMENT TO PROMISSORY NOTE DATED APRIL 3, 2018
Exhibit
10.2
AMENDMENT TO
PROMISSORY NOTE DATED
APRIL 3, 2018
This is
an amendment to the $2,000,000 principal amount promissory note
dated April 3, 2018 (the “Amendment”), by and among
Brekford Traffic Safety, Inc., a Delaware corporation, and Novume
Solutions, Inc., a Delaware corporation (collectively
“Borrower”), and Cedarview Opportunities Master Fund,
LP, a Delaware limited partnership (“Lender”)(the
“Promissory Note”).
All
capitalized terms contained herein which are not otherwise defined
shall have the meanings set forth in the Promissory
Note.
Section 1. Amendment to
Promissory Note. Section 1.1 of the Promissory Note is hereby
amended to the extent of extending the Maturity Date of the
Promissory Note to May 1, 2020, and, further, that if Borrower
prepays the principal amount on or before May 1, 2019, Borrower
shall pay to Lender all remaining interest as would be payable
through May 1, 2019. If Borrower prepays the principal amount after
May 1, 2019 and prior to May 1, 2020, Borrower shall pay to Lender
all remaining interest as would be payable through May 1,
2020.
Section 2. In consideration for
the agreement of the Lender to extend the Maturity Date, the
Borrowers hereby agree to pay the Lender $62,500 within three
business days of execution of the Amendment.
Section 3. Except as
specifically amended hereby, the Promissory Note and all other
documents, instruments and agreements executed and/or delivered in
connection therewith shall remain in full force and effect and are
hereby ratified and confirmed.
Section 4. This Amendment shall
be governed by all of the provisions contained in Section 10 of the
Promissory Note.
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(Signature
Pages Follow)
1
IN
WITNESS WHEREOF, the Borrower and the Lender have caused this
Amendment to be duly executed by a duly authorized officer as of
October 23, 2018.
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BREKFORD TRAFFIC
SAFETY, INC.
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By: /s/ Xxxxxx X.
Xxxxxx
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Name: Xxxxxx X.
Xxxxxx
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Title: Authorized
Signatory
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By: /s/ Xxxxxx X.
Xxxxxx
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Name: Xxxxxx X.
Xxxxxx
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Title:
CEO
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CEDARVIEW
OPPORTUNITIES MASTER FUND L.P.
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By: /s/ Xxxxxx
Xxxxxxxxx
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Name: Xxxxxx
Xxxxxxxxx
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Title: Managing Partner
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