Exhibit 10.7(d)


 


Loan Number 12121547


Agreement Date 04-01-2008


Credit Limit $ 2,000,000.00


Maturity Date 04-01-2009


 


This Modification Agreement (the “Modification”), dated April 23,
2008, is entered into by and between Coastal
Carolina Bancshares, Inc. (individually and collectively, the
“Borrower”) and South Carolina Bank
and Trust, N.A. (the “Lender”). This Modification amends and supplements that certain note between Borrower and Lender dated 04-01-2008
(the “Agreement”),


 


In consideration of the mutual agreements set forth herein and Lender’s
agreement to make additional advances as set forth hereinafter, the receipt and
sufficiency of which is hereby acknowledged, the Agreement is amended to add
the following:


 


In the event Borrower draws transaction account 500000492
in the name of Coastal Carolina Bancshares, Inc. on which the following are signers: Holly L. Schreiber, Michael D.
Owens below $ 0.00 (Triggering Balance),
depending on the availability of my Line of Credit based on my then current
Credit Limit, the Lender will make advances to restore these transaction
accounts to a positive balance. Advances will be made in $100
increments. Advances to the transaction accounts
designated herein will be made each day that the balance in that account is below
the Triggering Balance, subject to
the condition that the Credit Limit may not be exceeded by any advance. If the Credit Limit will be exceeded by
any advance needed to restore the transaction account to an amount above the Triggering Balance, Borrower
acknowledges and agrees that no advance shall be made. All applicable
charges to the designated transaction account resulting from a negative balance shall apply in such event. Borrower agrees that
the Lender shall not be responsible
or liable for Lender’s failure to fund any advance if the applicable Credit
Limit would be exceeded or if Borrower is otherwise in default hereunder.
Borrower releases Lender from any and all
liability in that circumstance and agrees that the terms of Borrower’s account
agreement with Lender shall control Borrower’s responsibilities to Lender for
negative balances in the designated transaction
account. In no event shall Lender be liable for incidental and consequential
damages as a result of any failure to fund advances hereunder.


 


This Agreement, as modified in
a writing signed by Lender and Borrower from time to time, is the completed final
expression of the Agreement between the parties. If any provision of this Agreement is unenforceable, then the unenforceable
provision will be severed and the remaining provisions will still be
enforceable.


 


Except as herein amended, the Agreement shall remain
otherwise unchanged and in full force and effect.
Borrower hereby reaffirms Borrower’s obligations and liabilities for the total
indebtedness currently evidenced by the Agreement and agrees to
abide by all provisions of the Agreement, as
herein modified. Borrower further agrees that the terms of this Modification
shall not cause a release of any
collateral held by Lender as security for the Line of Credit (and any and all
other indebtedness now or hereafter owing by Borrower to Lender).
Borrower hereby further agrees that this Modification shall not constitute a
novation of any of the documents evidencing the Line of Credit (or other indebtedness
owing by Borrower to Lender).


 


	
   

  	
   

  	
  /s/
  MDO

  	
  Initial

  



 

















 


This Modification Agreement shall be governed by the laws
of the State of South Carolina.


 


This
Agreement may be executed by the parties hereto in several counterparts, all of
which shall together constitute one and the same agreement.


 


This Modification shall be
binding upon and shall inure to the benefit of the parties hereto, their respective
heirs, administrators, successors and assigns.


 


IN
WITNESS WHEREOF, the parties hereto have executed this Modification as of the
day and year first above written.


 


	
   

  	
   

  	
  BORROWER(S):

  
	
   

  	
   

  	
  Coastal
  Carolina Bancshares, Inc.

  
	
   

  	
   

  	
   

  
	
  /s/ Holly L. Schreiber

  	
   

  	
  /s/
  Michael D. Owens, CEO

  
	
   

  	
   

  	
  By:
  Michael D. Owens, CEO

  
	
  /s/ Karen M. Godfrey

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
             LENDER:

  
	
  /s/ Janelle Womack

  	
   

  	
  /s/
  Alex Shuford

  
	
   

  	
   

  	
  Alex
  Shuford

  
	
  /s/ Rhonda R. Joyner

  	
   

  	
  Executive Vice President

  



 


 


	
   

  	
   

  	
  /s/
  MDO

  	
  Initial