AMENDED AND RESTATED SECURED CONVERTIBLE PROMISSORY NOTE $4,000,000 March 28, 2005Secured Convertible Promissory Note • March 31st, 2005 • Hyperfeed Technologies Inc • Security & commodity brokers, dealers, exchanges & services • California
The undersigned, Hyperfeed Technologies, Inc., a Delaware corporation (“Borrower”), and PICO Holdings, Inc., a California corporation (“Lender”), are parties to that certain Secured Convertible Promissory Note, dated November 2, 2004, (the “Prior Note”), pursuant to which $1,095,000 + interest remains outstanding and unpaid as of the date hereof, which amount includes all accrued interest and all other amounts owing from Borrower to Lender (the “Prior Balance”). The Borrower and Lender hereby agree to amend and restate the Prior Note though this Amended and Restated Secured Convertible Promissory Note, and Borrower hereby promises to pay to Lender the principal sum or so much of the principal sum of Four Million Dollars ($4,000,000) as may from time to time have been advanced and be outstanding, together with accrued interest as provided herein. Borrower and Lender acknowledge that the Prior Balance hereby remains outstanding pursuant to the terms of this Amended and Restated Secured C
