EXHIBIT 10.21
SECOND AMENDMENT TO REDUCED AND MODIFIED RENEWAL REVOLVING PROMISSORY NOTE
THIS SECOND AMENDMENT TO REDUCED AND MODIFIED RENEWAL REVOLVING
PROMISSORY NOTE is made and entered into by and among AMSOUTH BANK (the "Bank")
and DIVERSICARE MANAGEMENT SERVICES CO., a Tennessee corporation (the
"Borrower").
W I T N E S S E T H :
WHEREAS, Borrower executed to Bank that certain Reduced and Modified
Renewal Revolving Promissory Note dated December 15, 2002, in the original
principal amount of TWO MILLION FIVE HUNDRED THOUSAND AND NO/100 ($2,500,000.00)
DOLLARS, as amended by that First Amendment to Reduced and Modified Renewal Note
executed by Borrower and Bank on July 11, 2003 (the "Note"); and
WHEREAS, Bank has agreed to further modify the Note in accordance with
the terms and conditions of the Third Amendment to Master Amendment dated as of
July 11, 2003, executed by Bank and Debtors (as defined therein).
NOW, THEREFORE, for good and valuable consideration, the receipt and
sufficiency of which are hereby acknowledged, the parties agree as follows:
1. The Note is amended to provide that the Maturity Date, as defined
in the Note, shall be changed from August 11, 2003 to January 9, 2004.
2. The Note is amended as stated herein, but no further or otherwise,
and the terms and provisions of the Note, as hereby amended, shall be and
continue to be in full force and effect. Nothing herein is intended to operate
to release or diminish any right of Bank under the Note or with respect to any
collateral securing the Note or with respect to any guaranty or suretyship
agreement for the Note, all of which shall remain in full force and effect. This
instrument constitutes the entire agreement of the parties with respect to the
subject matter hereof.
IN WITNESS WHEREOF, this instrument has been executed on the ___ day of
______________, 2003.
DIVERSICARE MANAGEMENT SERVICES CO.,
a Tennessee corporation
By: /s/ Xxxxxxx X. Council, III
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Xxxxxxx X. Council, III
Title: President
BANK:
AMSOUTH BANK
By: /s/ Xxx XxXxxxxx
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Xxx XxXxxxxx, Vice President
