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              Exhibit
      10.38

              Note
      Modification Agreement

            

    

    

    This
agreement is dated as of April 16, 2009 (the "Agreement Date"), by and
between COLONIAL FULL SERVICE CAR WASH, INC. (the "Borrower") and JPMorgan Chase
Bank, N.A. (together with its successors and assigns, the "Bank"). The provisions of this
agreement are effective on the date that this agreement has been executed by all
of the signers and delivered to the Bank (the "Effective Date").

    

    WHEREAS, the Borrower executed
PROMISSORY NOTE dated as of October 16, 1996 in the original principal amount of
Two Million Two Hundred Sixteen Thousand and 00/100 Dollars ($2,216,000.00), as
the maturity was extended to August 20, 2009 pursuant to a Note Modification
Agreement dated as of August 5, 2004 (as same may have been amended or modified
from time to time, the "Note") as evidence of an
extension of credit from the Bank to the Borrower, which Note has at all times
been, and is now, continuously and without interruption outstanding in favor of
the Bank; and,

    

    WHEREAS, the Borrower has
requested and the Bank has agreed that the Note be modified to the limited
extent as hereinafter set forth in this agreement;

    

    NOW THEREFORE, in mutual
consideration of the agreements contained herein and for other good and valuable
consideration, the parties agree as follows:

    

    1.      ACCURACY OF RECITALS. The
Borrower acknowledges the accuracy of the Recitals stated above.

    

    2.      DEFINITIONS. Capitalized terms
used in this agreement shall have the same meanings as in the Note, unless
otherwise defined in this agreement.

    

    3.      MODIFICATION OF
NOTE.

    

    3.1           The
“Maturity Date” of the Note is hereby extended from August 20, 2009 to April 20,
2011.

    

    3.2           From
and after the Effective Date, the Note shall be payable in consecutive monthly
installments of principal each in the amount of $15,895.35, plus accrued
interest, commencing on May 20, 2009 and continuing on the same day of each
month thereafter until April 20, 2011, at which time the entire balance of
unpaid principal, accrued interest and all other amounts payable under the Note
shall be due and payable immediately.  The Note may be prepaid at any
time without premium or penalty.

    

    3.3           Commencing
on the Effective Date, the Note shall bear interest at the CB Floating Rate plus
..75% (the “Applicable
Margin”).

    

    3.4           As
used in this Agreement, the following terms shall have the indicated
meanings:

    

    "Adjusted One Month LIBOR Rate"
means, for any day, the sum of (i) 2.50% per annum plus (ii) the quotient of (a)
the interest rate determined by Bank by reference to the Page to be the rate at
approximately 11:00 a.m. London time, on such date or, if such date is not a
Business Day, on the immediately preceding Business Day for dollar deposits with
a maturity equal to one (1) month, divided by (b) one minus the Reserve
Requirement (expressed as a decimal) applicable to dollar deposits in the London
interbank market with a maturity equal to one (1) month.

    

    "Business Day" means (i) with
respect to the Adjusted One Month LIBOR Rate, a day (other than a Saturday or
Sunday) on which banks generally are open in Texas and/or New York for the
conduct of substantially all of their commercial lending activities and on which
dealings in United States dollars are carried on in the London interbank market
and (ii) for all other purposes, a day other than
a Saturday, Sunday or any other day on which national banking associations are
authorized to be closed.

    

    "CB Floating Rate" means the
Prime Rate; provided
that the CB Floating Rate shall, on any day, not be less than the Adjusted One
Month LIBOR Rate.  The CB Floating Rate is a variable rate and any
change in the CB Floating Rate due to any change in the Prime Rate or the
Adjusted One Month LIBOR Rate is effective from and including the effective date
of such change in the Prime Rate or the Adjusted One Month LIBOR Rate,
respectively.

    

    "Page" means Reuters Screen
LIBOR01, formerly known as Page 3750 of the Moneyline Telerate Service (together
with any successor or substitute, the "Service") or any successor or
substitute page of the Service providing rate quotations comparable to those
currently provided on such page of the Service, as determined by the Bank from
time to time for purposes of providing quotations of interest rates applicable
to dollar deposits in the London interbank market.

    

    
      
         

      

      
        
        

        
          

        

      

      
         

      

       

    

    "Prime Rate" means the rate of
interest per annum publicly announced from time to time by JPMorgan Chase Bank,
N.A. as its prime rate; each change in the Prime Rate shall be effective from
and including the date such change is publicly announced as being effective. The
Prime Rate is a reference rate and is not necessarily the lowest
rate.

    

    3.5           If
the Bank determines on any day that quotations of interest rates for the
relevant deposits referred to in the definition of Adjusted One Month LIBOR Rate
are not being provided for purposes of determining the interest rate on any
advance on any day, then each advance evidenced by the Note shall bear interest
at the Prime Rate plus the Applicable Margin until the Bank determines that
quotations of interest rates for the relevant deposits referred to in the
definition of Adjusted One Month LIBOR Rate are being provided.

    

    3.6           As
of the Effective Date, the late charge provision in the Note is deleted and the
following is inserted in lieu thereof:

    

    Late Fee. Any principal
or interest which is not paid within 10 days after its due date (whether as
stated, by acceleration or otherwise) shall be subject to a late payment charge
of five percent (5.00%) of the total payment due, in addition to the payment of
interest, up to the maximum amount of One Thousand Five Hundred and 00/100
Dollars ($1,500.00) per late charge. Borrower agrees to pay and stipulates that
five percent (5.00%) of the total payment due is a reasonable amount for a late
payment charge. Borrower shall pay the late payment charge upon demand by Bank
or, if billed, within the time specified.

    

    From and after the Effective Date, the
following provision is hereby added to the Note:

    

    Authorization for Direct Payments
(ACH Debits). To effectuate any payment due under this Note or under any
other Loan Documents, the Borrower hereby authorizes Bank to initiate debit
entries to Account Number ____________________ at Bank and to debit the same to
such account. This authorization to initiate debit entries shall remain in full
force and effect until Bank has received written notification of its termination
in such time and in such manner as to afford Bank a reasonable opportunity to
act on it. Borrower represents that Borrower is and will be the owner of all
funds in such account. Borrower acknowledges (1) that such debit entries may
cause an overdraft of such account which may result in Bank’s refusal to honor
items drawn on such account until adequate deposits are made to such account;
(2) that Bank is under no duty or obligation to initiate any debit entry for any
purpose; and (3) that if a debit is not made because the above-referenced
account does not have a sufficient available balance, or otherwise, the payment
may be late or past due.

    

    3.7           The
term “Loan Agreement” as defined in the Note is hereby amended to mean that
certain Credit Agreement dated as of November 1, 2006 between the Bank and the
Borrower, together with all renewals, extensions, amendments and other
modifications thereto and all substitutions and replacements
thereof.

    

    3.8           Each
of the Related Documents is modified to provide that it shall be a default or an
event of default thereunder if the Borrower shall fail to comply with any of the
covenants of the Borrower herein or if any representation or warranty by the
Borrower herein or by any guarantor in any Related Documents is materially
incomplete, incorrect, or misleading as of the date hereof. As used in this
agreement, the "Related
Documents" shall include the Note and all applications for letters of
credit, loan agreements, credit agreements, reimbursement agreements, security
agreements, mortgages, deeds of trust, pledge agreements, assignments,
guaranties, or any other instrument or document executed in connection with the
Note or in connection with any other obligations of the Borrower to the
Bank.

    

    3.9           Each
reference in the Related Documents to any of the Related Documents shall be a
reference to such document as modified by this agreement.

    

    4.      RATIFICATION OF RELATED DOCUMENTS AND
COLLATERAL. The Related Documents are ratified and reaffirmed by the
Borrower and shall remain in full force and effect as they may be modified by
this agreement. All property described as security in the Related Documents
shall remain as security for the Note, as modified by this agreement, and the
Liabilities under the other Related Documents.

    

    5.      BORROWER REPRESENTATIONS AND
WARRANTIES. The Borrower represents and warrants to the Bank that each of
the representations and warranties made in the Note and the other Related
Documents and each of the following representations and warranties are and will
remain, true and correct until the later of maturity or the date on which all
Liabilities evidenced by the Note are paid in full:

     

    
      
         

      

      
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    5.1           No
default, event of default or event that would constitute a default or event of
default but for the giving of notice, the lapse of time or both, has occurred
and is continuing under any provision of the Note, as modified by this
agreement, or any other Related Document.

    

    5.2           No
event has occurred which may in any one case or in the aggregate materially and
adversely affect the financial condition, properties, business, affairs,
prospects or operations of the Borrower or any guarantor or any subsidiary of
the Borrower.

    

    5.3           The
Borrower has no defenses or counterclaims, offsets or adverse claims, demands or
actions of any kind, personal or otherwise, that it could assert with respect to
the Note or any other Liabilities.

    

    5.4           The
Note, as modified by this agreement, and the other Related Documents are the
legal, valid, and binding obligations of the Borrower and the other parties,
enforceable against the Borrower and other parties in accordance with their
terms, except as may be limited by bankruptcy, insolvency or other laws
affecting the enforcement of creditors' rights generally and by general
principles of equity.

    

    5.5           The
Borrower, other than any Borrower who is a natural person, is validly existing
under the laws of the State of its formation or organization. The Borrower has
the requisite power and authority to execute and deliver this agreement and to
perform the obligations described in the Related Documents as modified herein.
The execution and delivery of this agreement and the performance of the
obligations described in the Related Documents as modified herein have been duly
authorized by all requisite action by or on behalf of the Borrower. This
agreement has been duly executed and delivered by or on behalf of the
Borrower.

    

    6.      BORROWER COVENANTS. The
Borrower covenants with the Bank:

    

    6.1           The
Borrower shall execute, deliver, and provide to the Bank such additional
agreements, documents, and instruments as reasonably required by the Bank to
effectuate the intent of this agreement.

    

    6.2           The
Borrower fully, finally, and forever releases and discharges the Bank, its
successors, and assigns and their respective directors, officers, employees,
agents, and representatives (each a "Bank Party") from any and all
causes of action, claims, debts, demands, and liabilities, of whatever kind or
nature, in law or equity, of the Borrower, whether now known or unknown to the
Borrower, (i) in respect of the loan evidenced by the Note and the Related
Documents, or of the actions or omissions of any Bank Party in any manner
related to the loan evidenced by the Note or the Related Documents and (ii)
arising from events occurring prior to the date of this agreement ("Claims"); provided, however,
that the foregoing RELEASE
SHALL INCLUDE ALL CLAIMS ARISING OUT OF THE NEGLIGENCE OF ANY BANK PARTY,
but not the gross negligence or willful misconduct of any Bank
Party.

    

    6.3           To
the extent not prohibited by applicable law, the Borrower shall pay to the
Bank:

    

    6.3.1           All
the internal and external costs and expenses incurred (or charged by internal
allocation) by the Bank in connection with this agreement (including, without
limitation, inside and outside attorneys, appraisal, appraisal review,
processing, title, filing, and recording costs, expenses, and
fees).

    

    7.      EXECUTION AND DELIVERY OF AGREEMENT
BY THE BANK. The Bank shall not be bound by this agreement until (i) the
Bank has executed this agreement and (ii) the Borrower performed all of the
obligations of the Borrower under this agreement to be performed
contemporaneously with the execution and delivery of this
agreement.

    

    8.      INTEGRATION, ENTIRE AGREEMENT,
CHANGE, DISCHARGE, TERMINATION, OR WAIVER. The Note, as modified by this
agreement, and the other Related Documents contain the complete understanding
and agreement of the Borrower and the Bank in respect of any Liabilities
evidenced by the Note and supersede all prior understandings, and negotiations.
No provision of the Note, as modified by this agreement, or any other Related
Documents may be changed, discharged, supplemented, terminated, or waived except
in a writing signed by the party against whom it is being enforced.

    

    9.      GOVERNING LAW AND VENUE. This
agreement shall be governed by and construed in accordance with the laws of the
State of Texas (without giving effect to its laws of conflicts). The Borrower
agrees that any legal action or proceeding with respect to any of its
obligations under the Note or this agreement may be brought by the Bank in any
state or federal court located in the State of Texas, as the Bank in its sole
discretion may elect. By the execution and delivery of this agreement, the
Borrower submits to and accepts, for itself and in respect of its property,
generally and unconditionally, the non-exclusive jurisdiction of those courts.
The Borrower waives any claim that the State of Texas is not a convenient forum
or the proper venue for any such suit, action or proceeding. This agreement
binds the Borrower and its successors, and benefits the Bank, its successors and
assigns. The Borrower shall not, however, have the right to assign the
Borrower's rights under this agreement or any interest therein, without the
prior written consent of the Bank.

     

    
      
         

      

      
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    10.           COUNTERPART EXECUTION. This
agreement may be executed in multiple counterparts, each of which, when so
executed, shall be deemed an original, but all such counterparts, taken
together, shall constitute one and the same agreement.

    

    11.           NOT A NOVATION. This agreement
is a modification only and not a novation. In addition to all amounts hereafter
due under the Note, as modified by this agreement, and the other Related
Documents, all accrued interest evidenced by the Note being modified by this
agreement and all accrued amounts due and payable under the Related Documents
shall continue to be due and payable until paid. Except for the modification(s)
set forth in this agreement, the Note, the other Related Documents and all the
terms and conditions thereof, shall be and remain in full force and effect with
the changes herein deemed to be incorporated therein. This agreement is to be
considered attached to the Note and made a part thereof. This agreement shall
not release or affect the liability of any guarantor, surety or endorser of the
Note or release any owner of collateral securing the Note. The validity,
priority and enforceability of the Note shall not be impaired hereby. References
to the Related Documents and to other agreements shall not affect or impair the
absolute and unconditional obligation of the Borrower to pay the principal and
interest on the Note when due. The Bank reserves all rights against all parties
to the Note and the other Related Documents.

    

    THIS
AGREEMENT AND THE OTHER RELATED DOCUMENTS REPRESENT THE FINAL AGREEMENT BETWEEN
THE PARTIES AND MAY NOT BE CONTRADICTED BY EVIDENCE OF PRIOR, CONTEMPORANEOUS,
OR SUBSEQUENT ORAL AGREEMENTS OF THE PARTIES.

    

    THERE
ARE NO UNWRITTEN ORAL AGREEMENTS BETWEEN THE PARTIES.

    

    
      
        
          
            	 
      	 
      	
                    Borrower:

                  
	
                    Address:

                  	
                    240
      Gibraltar Road, Suite 220

                    Horsham,
      PA 19044

                  	
                    COLONIAL
      FULL SERVICE CAR WASH, INC.

                  
	 
      	 
      	 
      	 
      
	 
      	 
      	
                    By:

                  	
                    /s/ Gregory Krzemien

                  
	 
      	 
      	 
      	
                    Gregory M. Krzemien

                  	
                    Treasurer

                  
	 
      	 
      	 
      	
                    Printed
      Name

                  	
                    Title

                  

          

        

      

    

     

    
      
        
          
            
              
                
                  
                    
                      	 
      	
                              Date
      Signed:

                            	
                               May 8, 2009

                            	 

                    

                  

                

              

            

          

        

      

    

     

    BANK’S
ACCEPTANCE

    

    The
foregoing agreement is hereby agreed to and acknowledged.

    

    
      
        
          
            
              	 
      	
                      Bank:

                    
	 
      	 
      
	 
      	
                      JPMorgan
      Chase Bank, N.A.

                    
	 
      	 
      	 
      
	 
      	
                      By:

                    	
                      /s/ David Shaw

                    
	 
      	 
      	
                      David I. Shaw

                    	
                      Senior Vice President

                    
	 
      	 
      	
                      Printed
      Name

                    	
                      Title

                    

            

          

        

      

    

     

    
      
        
          
            
              
                
                  
                    
                      
                        
                          	 
      	
                                  Date
      Signed:

                                	
                                  May 8,
2009

                                

                        

                      

                    

                  

                

              

            

          

        

      

    

     

    
      
         

      

      
        4Exhibit
10.39

    

    JPMORGAN
CHASE BANK, N.A.

    MODIFICATION, RENEWAL AND
EXTENSION

    OF NOTE, LIENS AND CREDIT
AGREEMENT

    

    This Modification, Renewal and
Extension of Note, Liens and Credit Agreement (herein referred to as this
“Agreement”) is being executed on this 8th day of May, 2009, to be effective
April 15, 2009 (herein referred to as the “Effective Date”) by and among MACE
SECURITY PRODUCTS, INC., a Delaware corporation (herein referred to as “Maker”)
whose current address is 240 Gibraltar Road, Suite 220, Horsham,
Pennsylvania  19044, MACE CAR WASH ARIZONA, INC. d/b/a GENIE CAR WASH
(herein referred to as “Mace Car Wash”) whose address is 240 Gibraltar Road,
Suite 220, Horsham, Pennsylvania  19044, COLONIAL FULL SERVICE CAR
WASH, INC. (herein referred to as “Colonial”) whose address is 240 Gibraltar
Road, Suite 220, Horsham, Pennsylvania  19044, MACE SECURITY
INTERNATIONAL, INC. (herein referred to as “Mace Security”) whose address is 240
Gibraltar Road, Suite 220, Horsham, Pennsylvania  19044, and JPMORGAN
CHASE BANK, N.A., a national banking association, and its successors and
assigns, successor by merger to Bank One, N.A. (herein referred to as “Bank”)
whose current address is 420 Throckmorton, Suite 400, Fort Worth, Texas
76102.

    

    RECITALS:

    

    WHEREAS, on the 15th day of
September, 2004, Maker did execute that one certain Promissory Note (herein
referred to as the “Note”) in the original principal amount of $825,000.00
payable to the order of Bank, secured by, inter alia, Deed of Trust, Security
Agreement and Assignment of Rents and Leases of even date therewith to Douglass
J. Kroiss, Trustee, covering the property described therein and including the
property described in Exhibit
“A” attached hereto and incorporated herein by reference for all purposes
(herein referred to as the “Property”), said Deed of Trust being recorded in
Volume 2004188, Page 14376 , Real Property Records, Dallas County, Texas (herein
referred to as the “Deed of Trust”); and

    

    WHEREAS in connection with the
execution of the Note and Deed of Trust, Mace Car Wash, Colonial, Mace Security,
Eager Beaver Car Wash, Inc. (“Eager Beaver”) and Mace Truck Wash d/ba/ Red Baron
Truck Wash (“Mace Truck”, and said Mace Car Wash, Colonial, Mace Security, Eager
Beaver and Mace Truck being collectively referred to herein as the “Guarantors”)
did execute their respective Guaranty Agreements guaranteeing the payment of the
Note (herein referred to as the “Original Guaranties”); and

    

    Modification,
Renewal and Extension of Note and Liens – Page 1

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    WHEREAS, Maker and Bank did
execute that one certain Credit Agreement dated October 31, 2006 (herein
referred to as the “Credit Agreement”, and said Note, Deed of Trust, the
Original Guaranties, the Credit Agreement, this Agreement and all other
documents executed in connection therewith being collectively referred to herein
as the “Loan Documents”); and

    

    WHEREAS, Maker has requested that Bank
extend the maturity date of the Note and to modify certain other provisions
contained in the Loan Documents, and Bank, being the legal owner and holder of
the Note and the liens securing the Note, is agreeable thereto subject to
certain terms and provisions.

    

    NOW, THEREFORE, in consideration of the
mutual covenants and agreements contained in this Agreement and for other good
and valuable consideration, the receipt and sufficiency of which is hereby
acknowledged, and in further consideration of the modification of the Loan
Documents as set forth below, Maker and Bank hereby agree as
follows:

    

    1.           Note
Balance.  Borrower and Bank
hereby acknowledge and agree that the outstanding principal balance of the Note
as of the Effective Date hereof is $649,549.63.  Borrower hereby
promises to pay all sums due under the Note and the Loan Documents.

    

    2.           Maturity
Date.  The maturity date of the Note shall be extended to April
15, 2012 (the “Extended Maturity Date”).

    

    Modification,
Renewal and Extension of Note and Liens – Page 2

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    3.           Interest
Rate.  Interest on the unpaid principal balance of the Note
shall accrue at the rate which shall from day to day be equal to the rate of
00.95% per annum (the “Applicable Margin”) above the Chase Bank Floating Rate
(“CBFR”) (as hereinafter defined) computed on the basis of a 360 day year unless
that calculation would result in a usurious interest rate, in which case
interest will be calculated on the basis of a 365 or 366 day year, as the case
may be (the “Note Rate”), and at a rate of 3.00% per annum above the Note Rate,
at the Bank’s option, upon the occurrence of any default under the Note, whether
or not the Bank elects to accelerate the maturity of the Note, from the date of
such increased rate is imposed by Bank.  As used herein, CBFR shall
mean the Prime Rate (as hereinafter defined); provided that the CBFR shall,
on any day, not be less than the Adjusted One Month LIBOR Rate (as hereinafter
defined).  The CBFR is a variable rate and any change in the CBFR due
to any change in the Prime Rate or the Adjusted One Month LIBOR Rate is
effective from and including the effective date of such change in the Prime Rate
or the Adjusted One Month LIBOR Rate, respectively.  As used herein,
Prime Rate means the rate of interest per annum announced from time to time by
the Bank as its prime rate.  The Prime Rate is a variable rate and
each change in the Prime Rate is effective from and including the date the
change is announced as being effective.  THE PRIME RATE IS A REFERENCE
RATE AND MAY NOT BE THE BANK’S LOWEST RATE.  As used herein, Adjusted
One Month LIBOR Rate means, for any day, the sum of (i) 2.50% per annum plus
(ii) the quotient of (a) the interest rate determined by the Bank by reference
to the Page (as hereinafter defined) to be the rate at approximately 11:00 a.m.
London time, on such date or, if such date is not a Business Day (as hereinafter
defined), on the immediately preceding Business Day for dollar deposits with a
maturity equal to one (1) month divided by (b) one minus the Reserve Requirement
(as hereinafter defined)(expressed as a decimal) applicable to dollar deposits
in the London interbank market with a maturity equal to one (1)
month.   As used herein Page means Reuters Screen LIBOR01
formerly known as Page 3750 of the Moneyline Telerate Service (together with any
successor or substitute, the “Service”) or any successor or substitute page of
the Service providing rate quotations comparable to those currently provided on
such page of the Service, as determined by the Bank from time to time for
purposes of providing quotations of interest rates applicable to dollar deposits
in the London interbank market.  As used herein Business Day means (i)
with respect to the Adjusted One Month LIBOR Rate, a day (other than a Saturday
or Sunday) on which banks generally are open in Texas and/or New York for the
conduct of substantially all of their commercial lending activities and on which
dealings in United States dollars are carried on in the London interbank market
and (ii) for all other purposes, a day other than a Saturday, Sunday or any
other day on which national banking associations are authorized to be
closed.  As used herein Reserve Requirement means the maximum
aggregate reserve requirement (including all basic, supplemental, marginal and
other reserves) which is imposed under Regulation D (as hereinafter
defined).  As used herein Regulation D means Regulation D of the Board
of Governors of the Federal Reserve System as from time to time in effect and
any successor thereto or other regulation or official interpretation of said
Board of Governors relating to reserve requirements applicable to member banks
of the Federal Reserve System.  The Bank’s determination of such CBFR
shall be conclusive.  Such rate shall fluctuate automatically upward
and downward, without notice to Maker or any other party.

    

    4.           Payment
Terms.  From and after the Effective Date, the Note shall be
amortized on the basis of a 134 month straightline amortization (the
“Amortization Period”) payable in monthly installments of $4,847.38 each, plus
interest, commencing on the 15th day of
May, 2009 and continuing on the same day of each month thereafter through the
Extended Maturity Date.  Interest shall be adjusted with each change
in the CBFR.  Each such payment shall be applied first to accrued but
unpaid interest and then to principal.

    

    5.           Release
of Guarantors/Reaffirmation of Guaranty.  It is agreed by and
between Maker and Bank that Eager Beaver and Mace Truck shall be released as
Guarantors on the Note and hereinafter the said Eager Beaver and Mace Truck
shall not be included in the definition of Guarantors.  All other
Guarantors herein reaffirm their liability to Bank under their respective
Guaranties and hereby acknowledge and agree that neither this Agreement nor any
documents executed in connection herewith or in connection with the Loan
Documents, shall in any way affect, impair or diminish Guarantors’ obligations
or Bank’s rights and remedies as provided in the Guaranties.

    

    Modification,
Renewal and Extension of Note and Liens – Page 3

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    6.           
Modification
of Credit Agreement.

    

    (A).        Paragraph
1. of the Credit Agreement entitled “Credit Facilities” is hereby
deleted and the following is substituted in its place, to-wit:

    

    “1.          Credit
Facilities.

    

    1.1           Scope.  This
agreement, unless otherwise agreed to in writing by the Bank and the Borrower or
prohibited by applicable law, governs the Liabilities, as defined below,
including but not limited to, the following described promissory
notes:

    

    1.2           Facility A (Line of
Credit).  The Bank agrees to extend credit to the Borrower in
the original principal sum not to exceed $500,000.00 in the aggregate at any one
time outstanding (“Facility A”).  Credit under Facility A shall be
repayable as set forth in a Line of Credit Note executed concurrently with the
agreement and any renewals, modifications, extensions, rearrangements,
restatements thereof and replacements or substitutions therefore.  The
proceeds of Facility A shall be used for the following purpose: support working
capital

    

    1.3           Facility B (Term
Loan).  The Bank agrees to extend credit to the Borrower in the
form of the modification of a loan in the original principal sum of Eight
Hundred Twenty-Five Thousand and No/100 Dollars ($825,000.00) (“Facility B”),
bearing interest and payable as set forth in the Note dated September 15, 2004
as modified or amended by any renewals, modifications or extensions thereof,
including, but not limited to that certain Modification, Renewal and Extension
of Note and Lien dated as of April 15, 2009.  The security for
Facility B is a lien on Lot 1, Block A, Signature Stone Addition, an Addition to
the City of Farmers Branch, Dallas County, Texas.”

    

    (B).        
Paragraph 5.2N of the Credit Agreement entitled “Liquidity” is hereby deleted
and the following is substituted in its place, to-wit:

    

    “N.         Liquidity.  Permit
at any time the total of cash and marketable securities of Mace Security
International, Inc. to be less than $3,000,000.00.”

    

    Modification,
Renewal and Extension of Note and Liens – Page 4

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    7.           Acknowledgment
by Maker.  Maker agrees that
all terms and provisions of the Note, the Deed of Trust, the Credit Agreement,
and any and all other instruments creating or affixing the liens securing the
Note shall be and remain in full force and effect as written, except as
otherwise expressly provided in this Agreement.  Maker agrees that
this extension of the maturity date and rearrangement of the payment terms on
the Note shall in no manner affect or impair said Note and the liens securing
same and that said liens shall in no manner be waived, the purpose of this
instrument being simply to extend the maturity date of the Note and to rearrange
the time or manner of payment of said Note.  All of the Property as
described in the Deed of Trust shall remain in all respects subject to the lien,
charge, or encumbrance of the Deed of Trust and nothing contained in this
Agreement and nothing done pursuant to this Agreement shall affect or be
construed to affect the lien, charge, or encumbrance of the Deed of Trust or the
priority of the Deed of Trust over any other liens, charges, or encumbrances, or
to release or affect the liability of any party or parties who may now or
subsequently be liable under or on account of the Note or the Deed of Trust, nor
shall anything contained in this Agreement or done in pursuance of this
Agreement affect or be construed to affect any other security for the Note held
by Bank.  Nothing contained in this Agreement shall operate to release
Maker from its liability to keep and perform all of the terms, conditions,
obligations, and agreements contained in the Note and the Deed of Trust, except
as expressly modified in this Agreement, and nothing contained in this Agreement
shall operate to release any Guarantors from his, its, or their liability
pursuant to its/his/their Guaranties, except as stated herein.  It is
expressly understood and agreed that failure to pay the indebtedness evidenced
by the Note and this Agreement when due shall constitute default under this
Agreement.  An event of default under this Agreement shall also exist
upon any Maker’s death, incapacity, dissolution, merger, consolidation,
termination of existence, insolvency, business failure, appointment of a
receiver, commission of an act of bankruptcy, assignment for the benefit of
creditors, or a material adverse change in the financial condition of Maker or
the commencement of any bankruptcy or insolvency related proceeding by or
against the Maker, any guarantor, or any other person or entity directly or
indirectly liable for the repayment of the indebtedness of the
Note.  Upon any such default, and without waiving any other rights
under the Note, this Agreement, or any other instrument executed in connection
with the Note, Bank may, at its option, exercise any or all rights, powers, and
remedies afforded under all security instruments securing the Note and by law,
including the right to declare the unpaid balance of principal and accrued
interest on the Note immediately due and payable.

    

    8.           Cross
Default/Cross Collateralization.  Notwithstanding any provision
contained herein or elsewhere in the Loan Documents to the contrary, Maker
acknowledges and agrees that the liens created in the Loan Documents securing
the Note and all other liens executed in connection therewith shall additionally
secure all indebtedness owing by Maker and Mace Security to
Bank.  Until the Note is paid in full, the reduction of, or payment in
full of, any or all such other indebtedness or the absence of any indebtedness
owed by Maker and/or Mace Security to Bank at or during any particular period of
time shall not affect the continuing validity and effect of the Loan Documents
securing the Note as to other indebtedness of Maker and/or Mace
Security.  Maker acknowledges and agrees that in the event Maker
becomes in default hereunder, such default shall also constitute an event of
default under other existing or future indebtedness of Maker and/or Mace
Security owing to Bank.  Maker further acknowledges that in the event
Maker or Mace Security becomes in default under any other indebtedness owing to
Bank, such default shall also constitute an event of default hereunder and shall
entitle Bank, at Bank’s option to pursue its remedies hereunder.

    

    9.           Release
and Waiver of Claims.  As a material
inducement to Bank to execute and deliver this Agreement, Maker hereby declares
that Maker has no set-offs, claims, counterclaims, defenses, or other causes of
action whatsoever against Bank or any of Bank’s officers, directors, employees,
agents, or representatives arising out of the loan evidenced by the Note, the
renewal, modification, and extension of such loan, any documents executed in
connection with the Note, or otherwise.  To the extent any such
set-offs, claims, counterclaims, defenses, or other causes of action may exist,
whether known or unknown, such items hereby are forever RELEASED, DISCHARGED,
AND WAIVED by Maker.

    

    Modification,
Renewal and Extension of Note and Liens – Page 5

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    

    10.           Usury.  Regardless of any
provision contained in the Note, this Agreement, or in any other document
executed in connection with the Note, Bank shall never be entitled to receive,
collect, or apply, as interest on the Note, any amount in excess of the maximum
amount permitted under applicable law (the “Highest Lawful Rate”), and in the
event Bank ever receives, collects, or applies, as interest, any such excess,
such amount shall be deemed a partial prepayment of principal, and, if the
principal of the Note is paid in full, any remaining excess shall immediately be
refunded to the payor.  In determining whether or not the interest
paid or payable, under any specific contingency, exceeds the Highest Lawful
Rate, Maker and Bank shall, to the maximum extent permitted by law, (a)
characterize any nonprincipal payment as an expense, fee, or premium rather than
as interest; (b) exclude voluntary prepayment and the effects of such; and (c)
amortize, prorate, allocate, and spread, in equal parts, the total amount of
interest throughout the entire contemplated term of the Note so that the
Interest Rate is uniform throughout the entire term of the Note, including all
renewals and extensions of the Note.

    

    11.           Costs and
Expenses.  Contemporaneously
with the execution and delivery of this Agreement and to the extent not
prohibited by law, Maker will pay, or reimburse Bank for, all costs and
expenses, of every character, incurred or expended from time to time (including,
but not limited to, the fees and expenses of legal counsel for Bank) in
connection with the negotiation, preparation, execution, filing, recording,
refiling, and re-recording of this Agreement and all related financing
statements, and the making, servicing, and collection of the debt secured by
this Agreement; any and all stamp, mortgage and recording taxes; the costs of
any title insurance or lien insurance purchased by Bank in connection with this
Agreement; all costs of negotiation, preparation, execution and delivery of any
and all amendments, modifications, supplements, consents, waivers, or other
documents or writings relating to the transactions contemplated by this
Agreement; and all costs (including attorneys’ fees) of reviewing title opinions
and security opinions relating to the debt secured by this
Agreement.  Maker will reimburse Bank for all amounts expended by Bank
to satisfy any obligation of Maker under this Agreement or to protect the
Property.  In addition, whether or not a default shall have occurred,
Maker will pay, or reimburse Bank for, all costs and expenses, of every
character incurred or expended from time to time in connection with evaluation,
monitoring, administration and protection of the Property, the exercise of Bank
of any of its rights and remedies under this Agreement or at law (including, but
not limited to, all appraisal fees, consulting fees, brokerage fees and
commissions, insurance premiums, Uniform Commercial Code search fees, fees
incident to title searches and reports, investigation costs, escrow fees,
attorneys’ fees, legal expenses, fees of auditors and accountants, court costs,
fees of governmental authorities, auctioneer fees and expenses, and all fees and
expenses incurred in connection with the marshalling, guarding management,
operation, removal, maintenance, cleanup, storage, auction and liquidation of
the Property.  Any amount to be paid or reimbursed by Maker to Bank
shall be a demand obligation owing by Maker to Bank and, to the extent not
prohibited by law, shall bear interest from the date of expenditure by Bank
until paid at the same rate provided for past-due principal and interest in the
principal obligation (the “Past Due Rate”).  The principal obligation
shall be (1) the Note secured by the Deed of Trust; (2) if more than one note is
secured, the note with the largest face amount; and (3) if no note is secured,
the obligation with the largest face amount.

    

    Modification,
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    12.           Additional
Documentation.  From time to
time, Maker shall execute or procure and deliver to Bank such other and further
documents and instruments evidencing, securing, or pertaining to the Note or the
other Loan Documents executed in connection with the Note, as shall be
reasonably requested by Bank so as to evidence or effect the terms and
provisions of this Agreement.  Such documents shall specifically
include, but not be limited to, such financial statements and other financial
information of Maker in such form and detail as Bank may request from time to
time.  Upon Bank’s request, Maker shall cause to be delivered to Bank
an opinion of counsel, satisfactory to Bank as to form, substance, and rendering
attorney, opining to the validity and enforceability of this Agreement, and the
terms and provisions of this Agreement, and any other agreement executed in
connection with the transaction contemplated by this Agreement.

    

    13.           Governing
Law and Time.  The terms and
provisions of this Agreement shall be governed by and construed in accordance
with the laws of the State of Texas, except to the extent that United States
federal law permits the Bank to charge, receive, or collect a greater amount of
interest.  Time is of the essence in the performance of the covenants
contained in this Agreement and in the other loan documents executed in
connection with the Note.

    

    14.           Government
Regulation.  Maker shall not
(1) be or become subject at any time to any law, regulation, or list of any
governmental agency (including, without limitation, the U.S. Office of Foreign
Asset Control list) that prohibits or limits Bank from making any advance or
extension of credit to Maker or from otherwise conducting business with Maker,
or (2) fail to provide documentary and other evidence of Maker’s identity as may
be requested by Bank at any time to enable Bank to verify Maker’s identity or to
comply with any applicable law or regulation, including, without limitation,
Section 326 of the USA Patriot Act of 2001, 31 U.S.C. Section 5318.

    

    15.           Information
Sharing/Assignment of Note.  Maker agrees that
the Bank may provide any information or knowledge that Bank may have about the
Maker or about any matter relating to the Note or any of the documents executed
in connection with the Note to the Bank, or any of its subsidiaries or
affiliates or their successors, or to any one or more purchasers or potential
purchasers or the Note or any of the documents executed in connection with the
Note.  The Maker agrees that the Bank may at any time sell, assign or
transfer one or more interests or participations in all or any part of it rights
and obligations in the Note to one or more purchasers whether or not related to
Bank.

    

    Modification,
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    16.           Loan
Purpose.  Maker warrants
and represents to Bank that (a) all loans evidenced by the Note are and shall be
“business loans”, as such term is used in the Depository Institutions
Deregulation and Monetary Control Act of 1980, as amended, and (b) such loans
are for a business, commercial, investment, agricultural, or other similar
purposes, and not primarily for personal, family, or household use, as such
terms are used in Chapter 303, Texas
Finance
Code,
as amended.

    

    17.           Severability.  In case any of
the provisions of this Agreement shall for any reason be held to be invalid,
illegal, or unenforceable, such invalidity, illegality, or unenforceability
shall not affect any other provision of this Agreement, and this Agreement shall
be construed as if such invalid, illegal, or unenforceable provision had never
been contained in this Agreement.

    

    18.           Multiple
Originals.  This Agreement
may be executed in multiple counterparts, each of which shall constitute an
original for all purposes, but all of which shall constitute one and the same
agreement.

    

    19.           No
Further Agreements.  Maker
acknowledges and agrees that Bank is under no obligation whatsoever to further
renew, extend, or modify the Note.  Maker additionally understands and
agrees that upon the maturity of the Note, Maker shall be obligated to pay all
amounts due under the Note, the Deed of Trust, this Agreement, and any other
document executed in connection with the Note, out of Maker’s own assets or out
of proceeds from a third-party loan obtained by Maker. THIS WRITTEN AGREEMENT REPRESENTS THE
FINAL AGREEMENT BETWEEN THE PARTIES AND MAY NOT BE CONTRADICTED BY EVIDENCE OF
PRIOR, CONTEMPORANEOUS, OR SUBSEQUENT ORAL AGREEMENTS OF THE
PARTIES.  THERE ARE NO UNWRITTEN ORAL AGREEMENTS BETWEEN THE
PARTIES.

    

    USA PATRIOT ACT
NOTIFICATION

    

    The following notification is provided
to Maker pursuant to Section 326 of the USA Patriot Act of 2001, 31 U.S.C.
Section 5318:

    

    IMPORTANT
INFORMATION ABOUT PROCEDURES FOR OPENING A NEW ACCOUNT.  To help the
government fight the funding of terrorism and money laundering activities,
Federal law requires all financial institutions to obtain, verify, and record
information that identifies each person or entity that opens an account,
including any deposit account, treasury management account, loan, other
extension of credit, or other financial services product.  What this
means for Maker:  When Maker opens an account, if Maker is an
individual Bank will ask for Maker’s name, taxpayer identification number,
residential address, date of birth, and other information that will allow Bank
to identify Maker, and if Maker is not an individual Bank will ask for Maker’s
name, taxpayer identification number, business address, and other information
that will allow Bank to identify Maker.  Bank may also ask, if Maker
is an individual to see Maker’s driver’s license or other identifying documents,
and if Maker is not an individual to see Maker’s legal organizational documents
or other identifying documents.

    

    Modification,
Renewal and Extension of Note and Liens – Page 8

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    

    WAIVER OF SPECIAL
DAMAGES

    

    THE
MAKER HEREBY WAIVES, TO THE MAXIMUM EXTENT NOT PROHIBITED BY LAW, ANY RIGHT THE
UNDERSIGNED MAY HAVE TO CLAIM OR RECOVER FROM THE BANK IN ANY LEGAL ACTION OR
PROCEEDING ANY SPECIAL, EXEMPLARY, PUNITIVE OR CONSEQUENTIAL
DAMAGES.

    

    JURY
WAIVER

    

    THE
MAKER AND THE BANK (BY ITS ACCEPTANCE HEREOF) HEREBY VOLUNTARILY, KNOWINGLY,
IRREVOCABLY AND UNCONDITIONALLY WAIVE ANY RIGHT TO HAVE A JURY PARTICIPATE IN
RESOLVING ANY DISPUTE (WHETHER BASED ON CONTRACT, TORT, OR OTHERWISE) BETWEEN
THE MAKER AND THE BANK ARISING OUT OF OR IN ANY WAY RELATED TO THIS AGREEMENT,
THE NOTE OR THE OTHER DOCUMENTS EXECUTED IN CONNECTION WITH THE
NOTE.  THIS PROVISION IS A MATERIAL INDUCEMENT TO THE BANK TO PROVIDE
THE FINANCING EVIDENCED BY THIS AGREEMENT AND THE NOTE.

    

    EXECUTED
on the 8th day of May, 2009 to be effective on the day and year first above
written.

    

    
      
        
          	 
      	
                  MAKER:

                
	 
      	 
      
	 
      	
                  MACE
      SECURITY PRODUCTS, INC., a

                  Delaware
      corporation

                
	 
      	 
      
	 
      	
                  By:

                	
                  /s/ Gregory Krzemien

                	 
      
	 
      	 
      	
                  Gregory
      Krzemien, Treasurer

                

        

      

    

    

    
      
        
          	 
      	
                  GUARANTORS:

                
	 
      	 
      
	 
      	
                  MACE
      CAR WASH ARIZONA, INC. d/b/a

                  GENIE
      CAR WASH

                
	 
      	 
      
	 
      	
                  By:

                	
                  /s/ Gregory Krzemien

                	 
      
	 
      	 
      	
                  Gregory
      Krzemien, its Treasurer

                

        

      

    

    

    Modification,
Renewal and Extension of Note and Liens – Page 9

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    

    
      
        
          	 
      	
                  COLONIAL
      FULL SERVICE CAR

                  WASH,
      INC.

                
	 
      	 
      
	 
      	
                  By:

                	
                  /s/ Gregory Krzemien

                	 
      
	 
      	 
      	
                  Gregory
      Krzemien, its Treasurer

                
	 
      	 
      
	 
      	
                  MACE
      SECURITY INTERNATIONAL,

                  INC.

                
	 
      	 
      
	 
      	
                  By:

                	
                  /s/ Gregory Krzemien

                	 
      
	 
      	 
      	
                  Gregory
      Krzemien, its Treasurer

                

        

      

    

    

    
      
        
          	 
      	
                  BANK:

                
	 
      	 
      
	 
      	
                  JPMORGAN
      CHASE BANK, N.A.

                
	 
      	 
      
	 
      	
                  By:

                	
                  /s/ David Shaw

                	 
      
	 
      	 
      	
                  David
      Shaw its Senior V-P

                

        

      

    

    

    
      
        
          
            	
                    STATE
      OF New Jersey

                  	 
      	
                    §

                  
	 
      	 
      	
                    §

                  
	
                    COUNTY
      OF Burlington

                  	
                      

                  	
                    §

                  

          

        

      

    

    

    This instrument was acknowledged before
me on the 8th day of May, 2009, by Gregory Krzemien, as Treasurer of MACE
SECURITY PRODUCTS, INC., a Delaware corporation, on behalf of said corporation
and in the capacity therein stated.

    

    
      
        	
                Seal

              	 
      	
                /s/ Patricia Torriero

              	 
      
	 
      	 
      	
                Notary
      Public in and for the State of New

                Jersey

              

      

    

    

    Modification,
Renewal and Extension of Note and Liens – Page 10

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    

    
      
        	
                STATE
      OF New Jersey

              	 
      	
                §

              
	 
      	 
      	
                §

              
	
                COUNTY
      OF Burlington

              	
                  

              	
                §

              

      

    

    

    This instrument was acknowledged before
me on the 8th day of May, 2009, by Gregory Krzemien, as Treasurer of MACE CAR
WASH ARIZONA, INC. d/b/a GENIE CAR WASH, an Arizona corporation, on behalf of
said corporation and in the capacity therein stated.

    

    
      
        	
                Seal

              	 
      	
                /s/ Patricia Torriero

              	 
      
	 
      	 
      	
                Notary
      Public in and for the State of New

                Jersey

              

      

    

    

    
      
        	
                STATE
      OF New Jersey

              	 
      	
                §

              
	 
      	 
      	
                §

              
	
                COUNTY
      OF Burlington

              	
                  

              	
                §

              

      

    

    

    This instrument was acknowledged before
me on the 8th day of May, 2009, by Gregory Krzemien, as Treasurer of COLONIAL
FULL SERVICE CAR WASH, INC., a Texas corporation, on behalf of said corporation
and in the capacity therein stated.

    

    
      
        	
                Seal

              	 
      	
                /s/ Patricia Torriero

              	 
      
	 
      	 
      	
                Notary
      Public in and for the State of  New

                Jersey

              

      

    

    

    
      
        	
                STATE
      OF New Jersey

              	 
      	
                §

              
	 
      	 
      	
                §

              
	
                COUNTY
      OF Burlington

              	
                  

              	
                §

              

      

    

    

    This instrument was acknowledged before
me on the 8th day of May, 2009, by Gregory Krzemien, as Treasurer of MACE
SECURITY INTERNATIONAL, INC., a Delaware corporation, on behalf of said
corporation and in the capacity therein stated.

    

    
      
        	
                Seal

              	 
      	
                /s/
      Patricia Torriero

              	 
      
	 
      	 
      	
                Notary
      Public in and for the State of  New

                Jersey

              

      

    

    

    Modification,
Renewal and Extension of Note and Liens – Page 11

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    

    
      
        	
                STATE
      OF TEXAS

              	 
      	
                §

              
	 
      	 
      	
                §

              
	
                COUNTY
      OF TARRANT

              	
                  

              	
                §

              

      

    

    

    This instrument was acknowledged before
me on the 8th day of May, 2009, by David I. Shaw, Senior VP of JPMORGAN CHASE
BANK, N.A., a national banking association, on behalf of said association and in
the capacity therein stated.

    

    
      
        	
                Seal

              	 
      	
                /s/ Pam Beasley

              	 
      
	 
      	 
      	
                Notary
      Public in and for the State of
Texas

              

      

    

    

    AFTER RECORDING, RETURN
TO:

    

    JPMorgan
Chase Bank, N.A.

    Attn:
Pamela M. Beasley

    420
Throckmorton, Suite 400

    Fort
Worth, Texas 76102

    

    Modification,
Renewal and Extension of Note and Liens – Page 12

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    EXHIBIT
“A”

    

    DESCRIPTION
OF PROPERTY

    

    Lot 1,
Block A, of SIGNATURE STONE ADDITION, an addition to the City of Farmers Branch,
Dallas County, Texas, according to the plat thereof recorded in Volume 2000222,
Page 1794, Map Records, Dallas County, Texas.

    

    Modification,
Renewal and Extension of Note and Liens – Page 13

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