BUSINESS LOAN AGREEMENTBusiness Loan Agreement • May 26th, 2010 • American Consumers Inc • Retail-grocery stores • Georgia
THIS BUSINESS LOAN AGREEMENT dated May 20, 2010, is made and executed between AMERICAN CONSUMERS, INC. DBA SHOP RITE ("Borrower") and GATEWAY BANK & TRUST ("Lender") on the following terms and conditions. Borrower has received prior commercial loans from Lender or has applied to Lender for a commercial loan or loans or other financial accommodations, including those which may be described on any exhibit or schedule attached to this Agreement. Borrower understands and agrees that: (A) in granting, renewing, or extending any Loan, Lender is relying upon Borrower's representations, warranties, and agreements as set forth in this Agreement; (B) the granting, renewing, or extending of any Loan by Lender at all times shall be subject to Lender's sole judgment and discretion; and (C) all such Loans shall be and remain subject to the terms and conditions of this Agreement.
COMMERCIAL SECURITY AGREEMENTCommercial Security Agreement • May 26th, 2010 • American Consumers Inc • Retail-grocery stores • Georgia
THIS COMMERCIAL SECURITY AGREEMENT dated May 20, 2010, is made and executed between AMERICAN CONSUMERS, INC. DBA SHOP RITE ("Grantor") and GATEWAY BANK & TRUST ("Lender").
May 20, 2010 American Consumers, Inc. Rossville, GA 30741 Gentlemen:American Consumers Inc • May 26th, 2010 • Retail-grocery stores
This letter agreement amends and clarifies certain terms in that certain Promissory Note, dated as of May 20, 2010, and the related Business Loan Agreement, dated as of May 20, 2010, concerning a revolving line of credit in the maximum amount of $800,000.00 being provided by Gateway Bank & Trust (the “Lender”) to American Consumers, Inc. doing business as Shop Rite (the “Borrower”).
