RENEWAL REVOLVING CREDIT NOTE (the “Note”)Renewal Revolving Credit Note • May 14th, 2009 • 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 $5,000,000.00, or so much thereof as has been disbursed for advances hereunder. This Note the renews in its entirety and supersedes that certain Renewal and Consolidation Revolving Credit Note dated effective April 12, 2008, in the original principal amount of $7,500,000.00.
CONTINUING GUARANTY DEER VALLEY CORPORATION THIS CONTINUING GUARANTY SUPERSEDES ITS ENTIRETY THAT CERTAIN CONTINUING GUARANTY DATED EFFECTIVE APRIL 12, 2008.Deer Valley Corp • May 14th, 2009 • Mobile homes
For the purpose of inducing FIFTH THIRD BANK, a Michigan banking corporation, hereinafter referred to as the “Lender,” to loan to DEER VALLEY HOMEBUILDERS, INC., an Alabama corporation, hereinafter referred to as the “Borrower,” the maximum sum of $5,000,000.00, the undersigned, as successor by merger with Cytation Corp., hereinafter referred to as “Guarantor,” whether one or more, jointly and severally if more than one, does hereby unconditionally guaranty to Lender that: (a) Borrower will duly and punctually pay or perform all indebtedness, obligations and liabilities, direct or indirect, matured or unmatured, primary or secondary, certain or contingent of Borrower to Lender now or hereafter owing or incurred (including without limitation costs and expenses incurred by Lender in attempting to collect or enforce any of the foregoing) which are chargeable to Borrower either by law or under the terms of Lender’s arrangements with Borrower relative to the above mentioned loan, hereinafte
THIRD AMENDMENT TO LOAN AGREEMENTLoan Agreement • May 14th, 2009 • Deer Valley Corp • Mobile homes • Florida
This Third Amendment to Loan Agreement (the “Third Amendment”) is entered into this day of April, 2009, effective as of April 12, 2009 (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 previously amended by Amendment to Loan Agreement dated effective April 12, 2007, and by Second Amendment to Loan Agreement dated effective April 12, 2008 (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.
