March 31, 2009 Glen C. Terry President and CEO Vineyard National Bancorp
Exhibit 10.2
March 31,
2009
Xxxx X.
Xxxxx
President
and CEO
0000
Xxxxxx Xxxxxx Xxxxx
Xxxxxx,
XX 00000
Dear Xx.
Xxxxx:
This
letter agreement will memorialize the agreement of the undersigned to amend the
Letter Agreement by deleting the sixth sentence of the second paragraph thereof
in its entirety and substituting the following sentence in lieu
thereof:
“Lender
agrees that receipt of the Total Payoff shall be satisfaction in full for all
Loan Liabilities, subject to the express condition that Lender receives the
Initial Payoff no later than May 22, 2009.”
Except as
expressly amended herein, the terms and provisions of the Letter Agreement shall
remain in full force and effect in accordance with its original terms and
conditions.
Sincerely,
FIRST TENNESSEE BANK
NATIONAL ASSOCIATION
/s/ Xxxxx X.
Work
Name:
Xxxxx X. Work
Title:
Executive Vice President
Acknowledge
and agreed:
By: /s/ Xxxx
X.
Xxxxx
Name:
Xxxx X. Xxxxx
Title:
President and CEO
Date:
April 1, 2009
VINEYARD
BANCSHARES:
VINEYARD
BANCSHARES, INC.
By: /s/
Xxxxxxx X.
Xxxxx
Name:
Xxxxxxx X. Xxxxx
Title:
Chairman
Date:
March 31, 2009
cc: Xxxx
Xxxxxxx – Bank MidWest
Xxxx Xxxxxx – First
Tennessee
