EXHIBIT 10.63
SECOND ADDENDUM TO
AUTOMOTIVE WHOLESALE FINANCING
AND SECURITY AGREEMENT
This Second Addendum to Automotive Wholesale Financing and Security
Agreement ("Second Addendum") is made between NISSAN MOTOR ACCEPTANCE
CORPORATION ("NMAC") and FIRST CHOICE STUART 1, INC., a Florida corporation, dba
Stuart Nissan ("Dealer") effective as of August 11, 1997.
For good and valuable consideration, the receipt and sufficiency of which
is hereby acknowledged, NMAC and Dealer hereby agree to supplement the
Automotive Wholesale Financing and Security Agreement between NMAC and Dealer,
dated as of July 21, 1997 as supplemented by the Addendum to Automotive
Wholesale Financing and Security Agreement dated July 21, 1997 (collectively the
"Agreement"), as follows:
"Dealer agrees that the Agreement will terminate upon the earlier of
the following:
1) December 31, 1997, and the unpaid Principal
together with all accrued and unpaid interest and all other
fees, costs and charges due and owing under the Agreement
shall immediately be accelerated and be due in full; or
2) Should Smart Choice Automotive Group, Inc., a
Florida corporation (and/or its successors or assigns), sell
stock pursuant to an underwritten public offering prior to
December 31, 1997, the unpaid Principal together with all
accrued and unpaid interest and all other fees, costs and
charges due and owing under the Agreement shall immediately be
accelerated and be due and payable in full."
Except as expressly modified in this Second Addendum, the Agreement shall
remain unchanged and in full force and effect.
FIRST CHOICE STUART 1, INC.,
a Florida corporation
Xxxxx Xxxx Xxxxxxxxxx, Jr.
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By:
Its:
