Second Addendum to Demand Note and Security Agreement Signed April 29, 2011.
Exhibit 4.7
Second Addendum to Demand Note and Security Agreement Signed April 29, 2011.
The parties to this addendum shall be Intelligent Highway Solutions, Inc. located at 0 Xxxxxx Xxx Xx. Xxxxxxxxxx, XX 00000 Xxxxxxx X Xxxxxxxx located at 0000 Xxxxxxx Xxxx, Xxxxxxxxxx, XX 00000 ("Borrowers"), Xxxxxxx X. Xxxx, located at 0000 Xxxxxx Xxxxx Xxxxx Xxxxx, Xxxx Xxxxx, XX 00000 ("Secured Party").
In consideration and not withstanding any previous agreement(s), the parties hereby agree to extend and revise the demand note amount of the original agreement signed on April 29, 2011, as attached Exhibit "A" to this addendum to extend to September 30, 2012.
All provisions related to the original agreement remain in full force and effect including, but not limited to the Demand Note and Security Agreement. Borrowers agree that this addendum is subject to the original agreement and are subject to the security agreement dated April 29, 2011 and perfected with the CA Dept of Corporations UCC division.
|
4/30/2012
|
$ | 2,500 | ||
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5/31/2012
|
$ | 2,500 | ||
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6/30/2012
|
$ | 2,500 | ||
|
7/31/2012
|
$ | 2,500 | ||
|
8/31/2012
|
$ | 2,500 | ||
|
9/30/2012
|
$ | 2,500 |
This addendum supersedes and replaces all previous debt obligations and notes previously entered into between Borrowers and Secure Party, expected as noted above.
| Intelligent Highway Solutions, Inc. | Xxxxxxx X. Xxxx (Borrower) |
| (Borrower) | (Secured Party) |
|
/s/ Xxxxx Xxxxx,
CEO
|
/s/ Xxxxxxx X. Xxxx
|
Third Addendum to Demand Note and Security Agreement Signed April 29, 2011.
The parties to this addendum shall be intelligent Highway Solutions, inc. located at 0 Xxxxxx Xxx Xx. Xxxxxxxxxx, XX 00000 ("Borrowers"), Xxxxxxx X. Xxxx, located at 0000 Xxxxxx Xxxxx Xxxxx Xxxxx, Xxxx Xxxxx, XX 00000 ("Secured Party").
In consideration and not withstanding any previous agreement(s), the parties hereby agree to extend and revise the demand note amount of the original agreement sighed on April 29, 2011, as attached Exhibit "A" to this addendum to extend to February 28, 2013.
All provisions related to the original agreement remain in full force and effect including, but not limited to the Demand Note and Security Agreement, Borrowers agree that this addendum is subject to the original agreement and are subject to the security agreement dated April 29, 2011 and perfected with the CA Dept of Corporations UCC division.
|
9/30/2012
|
$ | 2,500 | ||||
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10/30/2012
|
$ | 2,500 | ||||
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11/30/2012
|
$ | 2,500 | ||||
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12/30/2012
|
$ | 2,500 | ||||
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1/30/2013
|
$ | 2,506 | ||||
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2/28/2013
|
$ | 2,500 | ||||
| 2/28/2013 | 100,000, | principal balance due and payable |
Late fee of $100,00 will be assessed on any payment made after five days beyond the due date(s) as defined schedule above.
This addendum supersedes and replaces all previous debt obligations and notes previously entered into between Borrowers and Secure Party, expected as noted above.
| Intelligent Highway Solutions, inc. | Xxxxxxx X. Xxxx (Borrower) |
| (Borrower) |
(Secured Party)
|
|
/s/ Xxxxx Xxxxx,
CEO
|
/s/ Xxxxxxx X. Xxxx
|
| 09/17/2012 | |
| 09-17-2012 |
