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EXHIBIT 99.k
FIRST AMENDMENT TO GENERAL SECURITY AGREEMENT
THIS FIRST AMENDMENT TO GENERAL SECURITY AGREEMENT (this "Amendment")
is made as of August 27, 1993, by and between XXXXXXX X. XXXXXX (the "Debtor")
and NATIONSBANK OF FLORIDA, N.A., a national banking corporation (the "Secured
Party").
RECITALS:
A. As of December 18, 1992, the Secured Party made a loan to the
Debtor in the original principal amount of $26,000,000.00 (the "Loan").
B. Among other things, the Loan is secured pursuant to that
certain General Security Agreement, entered into as of December 18, 1992,
between the Debtor and the Secured Party (the "Security Agreement").
C. The parties wish to amend the Security Agreement in certain
respects, as set forth herein.
NOW, THEREFORE, for good and valuable consideration, the receipt and
sufficiency of which are hereby acknowledged, the parties agree as follows:
1. Recitals. The foregoing recitals are true and correct and are
hereby incorporated by this reference.
2. Modification of Security Agreement. Section 5(a) of the
Security Agreement is hereby modified by adding the following sentence at the
end thereof:
"Notwithstanding anything to the contrary contained herein, if
at any time the Ratio should fall to forty-five percent (45%)
or less, then, and in that event, within ten (10) days after
written request of the Debtor to the Secured Party, the
Secured
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Party shall release such of the Collateral as it shall
determine in order to cause the Ratio to rise to fifty
percent (50%)."
3. Confirmation of Security Agreement. Except as expressly
modified by this Amendment, the Security Agreement is hereby confirmed as being
in full force and effect and unmodified.
IN WITNESS WHEREOF, the parties have executed this Amendment as of the
date first above written.
X. Xxxxxx
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XXXXXXX X. XXXXXX
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NATIONSBANK OF FLORIDA, N.A., a
national banking corporation
By: Xxxxx Xxxxxxxx
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Name: XXXXX XXXXXXXX
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Title: AVP
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