CHANGE IN TERMS AGREEMENT
Exhibit
10.19
|
Principal
|
Loan
Date
|
Maturity
|
Loan
No
|
Call
/ Coll
|
Account
|
Officer
|
Initials
|
|
$2,534,795.71
|
03-30-2005
|
03-30-2008
|
1050142641
|
||||
|
References
in the above area are for Lender’s use only and do not limit the
applicability of the document to any particular loan or item.
Any
item above containing “***” has been omitted due to text length
limitations.
|
|||||||
Borrower: AT&S
Holdings, Inc. Lender: BANK
OF THE WEST
American
Trailer
& Storage, Inc.
Kansas
City BBC #21383
0000
Xxxxxxxxxx
Xxxxxxxxxx 000
X.X.
Xxxx Xxxx Xxx
Xxxxxx
Xxxx, XX
00000 Xxx’x
Xxxxxx, XX 00000
(000)
000-0000
Principal
Amount: $2,534,795.71 Date
of
Agreement: March
28,
2006
DESCRIPTION
OF EXISTING INDEBTEDNESS.
Promissory
Note date March 30, 2005 in the original amount of $2,534,795.71.
DESCRIPTION
OF COLLATERAL.
Commercial
Security Agreement dated October 1, 2003; Commercial Security Agreement dated
November 12, 2003; Commercial Security Agreement dated September 18, 2003;
Commercial Security Agreement dated January 30, 2004; Commercial Security
Agreement dated February 9, 2004; Commercial Security Agreement dated March
23,
2004; Commercial Security Agreement dated April 14, 2004; Commercial Security
Agreement dated April 28, 2004; Commercial Security Agreement dated May 12,
2004; Commercial Security Agreement dated June 15, 2004; Commercial Security
Agreement dated November 12, 2004 and any security agreements or other
collateral documents between Borrower and Lender, previously existing or
hereafter executed.
DESCRIPTION
OF CHANGE IN TERMS.
Modification
of Interest Rate. The
payment of interest as described in the Promissory Note has been modified as
follows: interest shall accrue at a rate of 6.70% per annum on the unpaid
principal balance.
CONTINUING
VALIDITY.
Except
as expressly changed by this Agreement, the terms of the original obligation
or
obligations, including all agreements evidenced or securing the obligation(s),
remain unchanged and in full force and effect. Consent by Lender to this
Agreement does not waive Lender’s right to strict performance of the
obligation(s) as changed, nor obligate Lender to make any future change in
terms. Nothing in this Agreement will constitute a satisfaction of the
obligation(s). It is intention of Lender to retain as liable parties all makers
and endorsers of the original obligation(s), including accommodation parties,
unless a party is expressly released by Lender in writing. Any maker or
endorser, including accommodation makers, will not be released by virtue of
this
Agreement. If any person who signed the original obligation does not sign this
Agreement below, then all person signing below acknowledge that this Agreement
is given conditionally, based on the representation to Lender that the
non-signing party consents to the changes and provisions of this Agreement
or
otherwise will not be released by it. This waiver applies not only to any
initial extension, modification or release, but also to all such subsequent
actions.
PRIOR
TO SIGNING THIS AGREEMENT, EACH BORROWER READ AND UNDERSTOOD ALL THE PROVISIONS
OF THIS AGREEMENT. EACH BORROWER AGREES TO THE TERMS OF THE
AGREEMENT.
CHANGE
IN TERMS SIGNERS:
AT&S
Holdings, Inc.
By:___//s//________________________________ By:______//s//_________________________________
Xxxxxxx
X. Xxxxx, XX, Chief Financial Officer of
Xxxxxxx X. Xxxxx, Chairman of AT&S Holdings, Inc.
AT&S
Holdings, Inc.
AMERICAN
TRAILER & STORAGE, INC.
By:______//s//_________________________________ By:__________//s//__________________________________
Xxxxxxx
X. Xxxxx, XX, Chief Financial Officer of
Xxxxxxx X. Xxxxx, Chairman of American Trailer &
American
Trailer & Storage, Inc.
Storage, Inc.
BANK
OF THE WEST
X_//s//________________________________________________
Xxxxxxxxx
X. Xxxxx, Loan Officer of BANK OF THE WEST
