ADDENDUM VII
Birmingham,
Alabama
February
1, 2006
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ADDENDUM
VII
This
Addendum VII (“Addendum VII”) is an addendum to the July 27, 2005 Real Estate
Note (“Note”) executed by X. X. Xxxxxxxx, Xx., on behalf of Automotive Services
Group, LLC (“ASG”) (the “Undersigned”), the Future Advance Mortgage Assignment
of Rents and Leases and Security Agreement (“Security Agreement”) executed by
the Undersigned on July 27, 2005, Addendum I (“Addendum I”) dated August 10,
2005, Addendum II dated September 23, 2005 (“Addendum II”), Addendum III dated
October 20, 2005 (“Addendum III”), Addendum IV dated December 7, 2005 (“Addendum
IV”), Addendum V dated December 22, 2005 (“Addendum V”), and Addendum VI dated
January 10, 2006 (“Addendum VI”). The Note, Security Agreement and Addendum I,
II, III, IV, V and VI are fully incorporated by reference in this Addendum
VII.
The
Undersigned, for value received, promises to pay to the order of XXXX XXXXXX
XXXXXX ACQUISITION FUND, LLC, the sum of one
hundred ten thousand dollars
($110,000.00)
(“Advance”)
together
with interest upon the unpaid portion thereof from the date at the rate of
three
percent (3%) above the “Prime Rate” as published in The
Wall Street Journal.
This
advance was to fund construction costs. This note is secured by mortgage on
real
estate, executed to the payee herein.
This
Addendum VII fully incorporates by reference the Note, Security Agreement and
Addendum I, II, III, IV, V and VI for an aggregate advance to date in the amount
of $1,353,536.00.
This
Addendum VII is given, executed and delivered under the seal of the
Undersigned.
Automotive Services Group, LLC | ||
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/s/ X.X. Xxxxxxxx | ||
By: Xxxxxxx X. Xxxxxxxx, Xx. |
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