1
EXHIBIT 6(7)(ii)
Global Election Systems Inc. WESTERN BANK This agreement relates to
0000 Xxxxxxx Xx. 505 MARQUETTE, P.O. BOX 26144 LOAN NUMBER 2000300/DT#20655
XxXxxxxx, XX 00000 XXXXXXXXXXX, XXX XXXXXX 00000 ORIGINALLY DATED NOVEMBER 14, 1995.
00-0000000 WTF/nw
"I" means the BORROWER(S) named above. "You" means the LENDER named above. THIS AGREEMENT DATED JAN. 6, 1998.
Definitions: As used in this agreement, the term "I" means the Borrower(s) named above; "You" means the Lender named above;
"Original Obligation" means my previous agreement to pay you money (referred to above by Loan Number and original date), and
any released agreements such as a security agreement.
Extension Agreement: You and I have entered into an original obligation which is a commercial note.
By entering into this agreement, we are extending the due date(s) of the payments of the original obligation.
The original due date defer(s) and the amount(s) of the The extended due date(s) and the amount(s) then due (including
payment(s) extended by this agreement are as follows: any fees or interest due on the new maturity dates are as follows:
(a) $ 600,000.00 originally due November 13, 1996 (a) January 6, 1999 $ 371,450.00
(b) $ originally due 19 (b) Interest Quarterly / Balance @ Maturity
(c) $ originally due 19 (c) 19 $
(d) $ originally due 19 (d) 19 $
Cost: For this extension, I agree to pay you the fees and/or additional interest as indicated below.
[X] A total fee of a 120.00 Doc Fee [X] Simple interest on the unpaid balance of principal
remaining from time to time at the rate of NPR*% per
Upon prepayment of the entire outstanding balance of year from January 6, 1998 until January 6, 1999
this obligation: (12 months). This interest rate is lower than the
rate previously in effect on this obligation.
[ ] a portion of this fee may be refunded as provided by law
[X] this fee will not be refunded
-------------------------------------------------------------------------------------------------------------------------
ADDITIONAL TERMS
Interest paid to date of $10,457.28
-------------------------------------------------------------------------------------------------------------------------
This agreement does not in any way satisfy or cancel the original obligation.
Except as specifically amended by this agreement, all other terms of the
original obligation remain in effect. This means and includes, but is not
limited to:
(1) Property which secures the original obligation will continue to secure
my total responsibility to pay you as amended by this agreement. (2) All
parties who have a responsibility to pay you in any way the original obligation
(including any co-members, endorsers and guarantors) remain responsible for the
total amount I owe you as amended by this agreement. If you require the consent
to this extension by any additional party. I agree to obtain such consent and
this extension agreement will not be effective if the consent is not obtained.
(3) Any past-maturity interest rate provided for in the original obligation
(except as specifically contracted for here) shall now begin to apply after the
first scheduled payment of the original obligation as amended by this
agreement. (4) You will not be responsible to further extend the payments
effected by this agreement or any other scheduled payments. All other
scheduled payments not effected by this agreement shall remain due as
previously scheduled. (5) All provisions for default, remedies, attorneys' fees
(if any) etc. remain in effect. (6) My responsibility (if any) to provide
insurance on the property which secures the original obligation (if any) shall
remain in effect. However, the term of such insurance policy will not be
extended to cover any additional term resulting from this agreement unless
contracted for and any additional premium is paid. (7) The term of any Credit
Life and/or Disability Insurance coverages purchased in connection with the
original obligation will not be extended for the additional term provided for
in this agreement unless contracted for and any additional premium is paid.
SIGNATURE OF AUTHORIZED GLOBAL ELECTION SYSTEMS INC.
REPRESENTATIVE OF LENDER SIGNATURE(S) FOR BORROWER.
BY SIGNING BELOW, I AGREE TO
THE EXTENSION. I HAVE
RECEIVED A COPY OF THIS
AGREEMENT ON TODAY'S DATE
X /s/ XXXXXXX X. XXXXX X /s/ XXXXXX X. XXX XXXX
---------------------------------- ----------------------------
XXXXXXX X. XXXXX, XXXXXX X. XXX XXXX, PRESIDENT
CHAIRMAN & CEO X
----------------------------
