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Exhibit 10.17
 
AMENDMENT NO. 1
TO
CONVERTIBLE DEBENTURE

SecureAlert, Inc. and SecureAlert Monitoring, Inc. (collectively the “Company”)
entered into a debenture with the creditors listed below (the “Creditors”) on
April 20, 2012 with a maturity date of July 31, 2012 in the principal amount of
$2,500,000.00 with a “green shoe” option to raise an additional $500,000.00 (the
“Debenture”).  The parties to the Debenture have desire to extend the maturity
date on the Debenture as follows:

1.
Final Maturity Date: The parties hereto acknowledge and agree that the Final
Maturity Date of the Debenture shall be extended from July 31, 2012 to August
31, 2012.
   
2.
Interest:  Simple interest shall accrue at a rate of eight percent (8%) per
annum.  Interest shall accrue from the date funds were received by the Company
from each respective Creditor under the Debenture.  All interest shall be due
and payable in cash at the Final Maturity Date. In lieu of a cash interest
payment, each Creditor has the right to convert all or any part of the interest
amount into shares of Common Stock of the Company at a conversion price per
share of $0.03 per Share.
   
3.
Security:  For the avoidance of doubt and in addition to the Security outlined
in section #2.4 of this Convertible Debenture, Creditor(s) shall receive a first
priority lien on the recently issued patent “United States Patent No.
8232876”.  Company acknowledges that the patent listed above is covered by the
existing Security Agreement.
   
4.
Terms of Debenture: Except as provided herein the remaining terms of the
Debenture shall be unchanged and fully enforceable by the parties hereto.

 
IN WITHNESS WHEREOF, this Amendment No. 1 to Convertible Debenture has been duly
executed and delivered as of July 31, 2012.

SecureAlert, Inc.SecureAlert Monitoring, Inc.

By:_/s/  John L. Hastings, III
By:   /s/  John L. Hastings, III
John L. Hastings, III
John L. Hastings, III
President and CEO
President

 
 

 
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Creditor: Laemi Real Estates Inc.
Address:
 
Investment Amount: $500,000.00
         
By:     /s/  Hans-Jorg Gatt
Laemi Real Estates, Inc.
 
Hans-Jorg Gatt, Director
15 Neugasse
         
.O. Box 424
 
By:    /s/  Christina Meusburger
LI-9490
 
Christina Meusburger, Director
Principality of Liechtenstein
       
Creditor: Sapinda Holding BV
   
Investment Amount: $500,000.00
               
By:      /s/  Dr. Peter Wiesing
Sapinda Holding BV
 
Dr. Peter Wiesing, Managing Director
Attn: Herm Holding BV
   
World Trade Center
   
Schiphol Boulevard 127, A 3.14
   
The Netherlands
       
Creditor: SAPINDA ASIA Limited
   
Investment Amount: $1,000,000.00
               
By:      /s/ Lars Windhorst
Sapinda Asia Limited
 
Lars Windhorst, Managing Director
Rooms 803-4, 8/F
   
Hang Seng Bank Building
   
200 Hennessy Road
   
Wanchai
   
Hong Kong
             
Creditor: George Schmitt
   
Investment Amount: $500,000.00
     
George Schmitt
 
By:      /s/ George Schmitt
554 Hamilton Way
 
George Schmitt
Pleasanton, CA 94566
 

 
 
 

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