Exhibit 10(i)
May 27, 1998 CoreStates
Bank
Xx. Xxxxx Xxxxxxx, Vice President and CFO
1st Franklin Financial Corporation
000 X. Xxxxxx Xxxxxx
P.O. Box 880
Toccoa, GA 30577
Re: Eleventh Amendment of Section 6.14 of Revolving Credit and Term Loan
Agreement
Dear Xxxxx:
Reference is hereby made to that certain Revolving Credit and Term Loan
Agreement dated October 1, 1985, as amended from time to time (all of which
are hereinafter collectively referred to as the "Credit Agreement") by and
among 1st Franklin Financial Corporation ("Company"), CoreStates Bank, N.A.,
Fleet Bank, N.A., SouthTrust Bank of Georgia, N.A. and Xxxxxx Trust and
Savings Bank, as lenders (collectively, the "Banks") and CoreStates Bank, N.A.
as Agent for the Banks (in such capacity, the "Agent"). All capitalized terms
not otherwise defined herein shall have the meanings respectively ascribed to
them in the Credit Agreement.
The Borrower, the Banks and the Agent hereby agree to amend the Agreement as
follows:
1. Section 5.08(b)(v) is deleted in its entirety
This letter may be executed in counterparts, all of which taken together shall
constitute one and the same agreement, and any of the parties hereto may
execute this letter agreement by signing any such counterpart. The Credit
Agreement, as amended hereby and as previously amended, remains in full force
and effect.
Each of the undersigned, by its signature hereto, hereby evidences its consent
to the terms and conditions of this letter to be effective only upon the
Agent's receipt of an executed counterpart or facsimile by Company and Banks
and delivery thereof to the Borrower.
Agreed to this 28th day of May, 1998
1st Franklin Financial Corporation CoreStates Bank, N.A., as Agent and Bank
By: s/ X. Xxxxx Xxxxxxx By: s/ Xxxxxx X. Xxxxxx;
------------------------ --------------------------------
X. Xxxxx Xxxxxxx; VP/CFO Xxxxxx X. Xxxxxx; Vice President
Print Name and Title Print Name and Title
Xxxxxx Trust and Savings Bank
Attest: s/ Xxxx Xxxxxxx By: s/ Xxxxxx X. Xxxxxx
--------------- --------------------------------
Xxxx Xxxxxxx Xxxxxx X. Xxxxxx; Vice President
Print Name and Title
Southtrust Bank of Georgia, N.A Fleet Bank, N.A.
By: s/ Xxxxxx X. Xxxxxxx By: s/ Xxxxxx Xxxxxx
---------------------------- -------------------------------
Xxxxxx X. Xxxxxxx; Vice Pres. Xxxxxx Xxxxxx;
Print Name and Title Assist. Vice President
Print Name and Title