Exhibit No. 10.26 SECURITY AGREEMENT This SECURITY AGREEMENT, dated as of July 31, 1998, is between Room Plus, Inc., a New York corporation (the "Company"), and David A. Belford (the "Creditor"). WHEREAS, pursuant to the terms of a Loan Agreement...Security Agreement • August 7th, 1998 • Room Plus Inc • Retail-home furniture, furnishings & equipment stores • New York
Exhibit No. 10.28 STOCKHOLDER AGREEMENT STOCKHOLDER AGREEMENT dated as of July 31, 1998 among Nationwide Warehouse & Storage, Inc., an Ohio corporation (the "Company"), Room Plus, Inc., a New York corporation ("Parent"), Room Plus Sub, Inc., an Ohio...Stockholder Agreement • August 7th, 1998 • Room Plus Inc • Retail-home furniture, furnishings & equipment stores • New York
LOAN AGREEMENTLoan Agreement • August 7th, 1998 • Room Plus Inc • Retail-home furniture, furnishings & equipment stores • New York
CONDITIONALAgreement and Plan of Merger • August 7th, 1998 • Room Plus Inc • Retail-home furniture, furnishings & equipment stores • New York
Mary Martin (973) 523-4600, Ext. 315 ROOM PLUS, INC. SECURES $1.5 MILLION LOAN Paterson, NJ - August 3, 1998 - ROOM PLUS, INC. (NASDAQ:PLUS) Room Plus, Inc. and David Belford, Chairman and Chief Executive Officer and 50% shareholder of Nationwide...Room Plus Inc • August 7th, 1998 • Retail-home furniture, furnishings & equipment stores
Paterson, NJ - August 3, 1998 - ROOM PLUS, INC. (NASDAQ:PLUS) Room Plus, Inc. and David Belford, Chairman and Chief Executive Officer and 50% shareholder of Nationwide Warehouse & Storage, Inc. ("Nationwide"), have entered into agreements pursuant to which Mr. Belford loaned Room Plus the sum of $1.5 million for a two-year term at an annual interest rate of 12% and received Warrants to purchase two million shares of Room Plus Common Stock at an exercise price of $2.00 per share. In addition, the Room Plus Board of Directors has elected Mr. Belford to its Board and appointed him Chairman as contemplated by the Loan Agreement. Nationwide is a national chain of retail furniture stores. In the year ended December 31, 1997, Nationwide had sales of approximately $131,000,000. At this time, Nationwide operates 84 stores in the U.S. and Canada. Room Plus had sales of approximately $17,000,000 in 1997 and currently operates 16 showrooms.
