AMENDMENT "A" TO
PURCHASE AGREEMENT
DATED MAY 14, 0000 XXXXXXX
XXXX XXXXXXXX XXXX
AND
MICROGRAPHIC TECHNOLOGY CORPORATION
WHEREAS, M&I has provided the attached written acknowledgement (dated
August 15, 1997, included as Attachment 1) certifying that nine of the twelve
machines have meet the requirements as outlined paragraphs 1, 2, 3, 4, and 5 of
the "Acceptance Criteria" section of Amendment No. 1 to the PPF Agreement.
WHEREAS, M&I has continued to make timely payments in-full relating to
all twelve installed machines.
WHEREAS, MTC is continuing to pursue complete acceptance of all
machines pursuant to the requirements of the "Acceptance Criteria" section of
Amendment No. 1 to the PPF Agreement.
West Suburban Bank hereby amends Section 7 of the Purchase Agreement to
waive the existing Repurchase Events (as listed in Section 7, paragraphs a, b,
and c) and replaces said Repurchase Events with:
"Seller's failure to provide Purchaser with M&I's written
acknowledgement, on or before June 15, 1998, stating that all twelve
(12) of the Machines have been accepted by M&I and meet all
requirements of all paragraphs of the "Acceptance Criteria" section of
Amendment No. 1 to the PPF Agreement.
"Upon the occurrence of a Repurchase Event, without notice or demand,
Seller shall immediately pay Purchaser the entire Unrecovered Purchase
Price and all accrued and unpaid Interest Equivalent, whereupon the PPF
Agreement and the Machines shall be reconveyed by Purchaser to Seller
by appropriate xxxx of sale or other instrument of conveyance."
IN WITNESS WHEREOF, this Amendment A is executed and effective as of
___ day of ______________, 1997.
SELLER: PURCHASER:
MICROGRAPHIC TECHNOLOGY WEST SUBURBAN BANK
CORPORATION a Delaware Corporation
By: ______________________________ By: ________________________________
Its: _____________________________ Its: ________________________________
WESTSUB.MI/np/110697
