AMENDMENT TO LOAN AND SECURITY AGREEMENTS
WHEREAS, the Note dated _________, in the amount of $_________, and
Amendment to said Note dated _________, in the amount of $_________, has a
present balance owing of $_________, known as Loan No. ___; and
WHEREAS, the Note dated _________, in the amount of $_________, has a
present balance owing of $_________, known as Loan No. ___; and
WHEREAS, Borrowers request additional financing in the amount of
$_________, for the purpose of upgrading the fixtures at the store located at
_________.
NOW, THEREFORE, it is agreed as follows:
1. The new funds of $_______ shall be repaid according to the Installment
Note attached hereto marked Exhibit A; said Note shall be known as Loan
No. ____.
2. The new note of $_________ together with interest shall be secured
under the Security Agreements respectively dated _________, and any
Amendments to said Loan and Security Agreements, continuing the terms
and conditions thereof, and said Loan and Security Agreements are
hereby ratified and reaffirmed. The terms and conditions of Loans ___
and ___ shall remain the same.
3. Irrevocable assignments of collateral on a life policy(s) on the life
(lives) of the individuals for the total amount of the loan shall be
maintained in full force and effect for the length of the loan. The
collateral assignment designation shall read as follows: United
Grocers, Inc. and/or its subsidiaries or assignees, as their interest
may appear.
4. Real property mortgages as described on the attached Exhibits B and C
shall continue to be pledged as partial collateral for the length of
the loan.
5. Inventories shall be maintained at all times at levels of not less than
$_________ cost to Borrowers at _________ and $_________ cost to
Borrowers at _________.
6. Borrowers agree to pay a loan fee of $_______, one percent of funds
advanced hereunder, together with any and all costs incident to
perfecting the security agreements required hereunder.
Dated: _________
BORROWERS: SECURED PARTIES:
UNITED GROCERS, INC.
By
, President By
X. X. Xxxxxxx
By Assistant Secretary
, Secretary
UNITED RESOURCES, INC.
INDIVIDUALLY:
By
----------------------------------- X. X. Xxxxxxx
President
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