From: PCBB/ Nino Petroni and Bryan Warner Date: May 12, 2009 Re: Belvedere Socal – Proposed Second Amendment and Waiver Agreement Negotiated TermsWaiver Agreement Negotiated Terms • May 14th, 2009 • Belvedere SoCal • National commercial banks
This summary of basic indicative terms (the “Memo”) is for a proposed second amendment (“Proposed Amendment”) to a loan (“Loan”) to Belvedere Socal, a bank holding company organized under the laws of California (“Borrower”), which Loan was previously made by Pacific Coast Bankers’ Bank (“Lender”) pursuant to that certain Business Loan Agreement (the “Agreement”) dated as of March 18, 2008 and First Amendment and Waiver Agreement (“Previous Amendment”) by and among Borrower and Lender. This Memo summarizes the discussions between the Lender and the Borrower and provides a basis for completing negotiations between them with respect to the Proposed Amendment.
