CONTINUING GUARANTY DEER VALLEY CORPORATIONDeer Valley Corp • May 13th, 2008 • Mobile homes
THIS CONTINUING GUARANTY SUPERSEDES ITS ENTIRETY THAT CERTAIN CONTINUING GUARANTY DATED APRIL 12, 2006, AS AMENDED BY RESTATED CONTINUING GUARANTY DATED EFFECTIVE APRIL 12, 2007.
SECOND AMENDMENT TO LOAN AGREEMENTLoan Agreement • May 13th, 2008 • Deer Valley Corp • Mobile homes
This Second Amendment to Loan Agreement (the “Second Amendment”) is entered into this 5th day of May, 2008, effective as of April 12, 2008 (the “Effective Date”), by and between DEER VALLEY HOMEBUILDERS, INC., an Alabama corporation (the “Borrower”) and FIFTH THIRD BANK, a Michigan banking corporation (the “Bank”), and amends and modifies that certain Revolving Credit Loan and Security Agreement dated April 12, 2006, as amended by Amendment to Loan Agreement dated April 12, 2007 (collectively the “Loan Agreement”). All of the capitalized terms used herein shall have the same identification and defined meanings as set forth in the Loan Agreement unless otherwise specifically indicated or defined herein.
RENEWAL AND CONSOLIDATION REVOLVING CREDIT NOTE (the “Note”)Renewal and Consolidation Revolving Credit Note • May 13th, 2008 • Deer Valley Corp • Mobile homes
FOR VALUE RECEIVED, the undersigned borrower, DEER VALLEY HOMEBUILDERS, INC., an Alabama corporation (the “Borrower”) promises to pay to the order of FIFTH THIRD BANK, a Michigan banking corporation (the “Lender”), at 201 E. Kennedy Blvd., Suite 1800, Tampa, Florida 33602, or at such other place as Lender may from time to time designate in writing, with payment due as provided herein and in the Revolving Credit Loan and Security Agreement, as amended (the “Credit Agreement”), the principal sum not to exceed $7,500,000.00, or so much thereof as has been disbursed for advances hereunder. This Note consolidates the renewal of that certain Renewal Revolving Credit Note dated effective April 12, 2006, in the amount of $2,500,000.00 with an advance loan of even date herewith in the principal amount of $5,000,000.00.
