Document:

EXHIBIT 10.71

                           LOAN AND SECURITY AGREEMENT

                          Dated as of January 7, 2003

                           TRAVIS BOATS & MOTORS, INC.
                            a Texas corporation, and
                          its affiliates listed herein

                                  ("Borrower")

                                       and

                                  TMRC, L.L.P.
                    a Missouri limited liability partnership,

                                   ("Lender")

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                                TABLE OF CONTENTS

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ARTICLE I -       Definitions.....................................................................................1
   Section 1.1    Definitions.....................................................................................1

ARTICLE II -      Amount and Terms of the Secured Loan Facility...................................................2
   Section 2.1    Advances........................................................................................2
   Section 2.2    Secured Note....................................................................................3
   Section 2.3    Obligations Absolute............................................................................3
   Section 2.4    Interest........................................................................................3
   Section 2.5    Voluntary Prepayment; Termination of Agreement by Borrower......................................4
   Section 2.6    Use of Proceeds.................................................................................4
   Section 2.7    Mandatory Prepayment............................................................................4
   Section 2.8    Payments........................................................................................4

ARTICLE III -     Security Interest...............................................................................5
   Section 3.1    Grant of Security Interest......................................................................5

ARTICLE IV -      Conditions of Lending...........................................................................5
   Section 4.1    Conditions Precedent to the Initial Advance.....................................................5
   Section 4.2    Determination to Make Other Advances............................................................6
   Section 4.3    Conditions Precedent to All Advances............................................................6

ARTICLE V -       Representations and Warranties..................................................................6
   Section 5.1    Existence and Power; Name.......................................................................6
   Section 5.2    Authorization of Borrowing; No Conflict as to Law or Agreements.................................7
   Section 5.3    Legal Agreements................................................................................7
   Section 5.4    Litigation......................................................................................7
   Section 5.5    Title and Liens.................................................................................7

ARTICLE VI -      Covenants.......................................................................................7
   Section 6.1    Reporting Requirements..........................................................................7
   Section 6.2    Authorization to File Financing Statements......................................................8
   Section 6.3    Indemnification.................................................................................8

ARTICLE VII -     Events of Default, Rights and Remedies..........................................................8
   Section 7.1    Events of Default...............................................................................8
   Section 7.2    Rights and Remedies.............................................................................9

ARTICLE IX -      Miscellaneous...................................................................................9
   Section 8.1    No Waiver; Cumulative Remedies..................................................................9
   Section 8.2    Amendments, Etc.................................................................................9
   Section 8.3    Addresses for Notices, Etc.....................................................................10
   Section 8.4    Execution in Counterparts......................................................................11
   Section 8.5    Binding Effect; Assignment; Complete Agreement.................................................11
   Section 8.6    Governing Law..................................................................................11

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   Section 8.7    Severability of Provisions.....................................................................11
   Section 8.8    Headings.......................................................................................11
   Section 8.9    Costs and Expenses.............................................................................11
   Section 8.10   Construction...................................................................................11
   Section 8.11   Statutory Notice Regarding Oral Agreements.....................................................11

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                           LOAN AND SECURITY AGREEMENT
                           Dated as of January 7, 2003

         TRAVIS BOATS & MOTORS, INC., a Texas corporation,  TBC Arkansas,  Inc.,
Travis Boating Center  Arlington,  Inc.,  Travis Boating Center Beaumont,  Inc.,
Travis Boating Center Oklahoma,  Inc.,  Travis Boating Center  Tennessee,  Inc.,
Travis Snowden Marine, Inc., Falcon Marine,  Inc., Falcon Marine Abilene,  Inc.,
Travis Boating Center  Alabama,  Inc.,  Travis Boating Center  Louisiana,  Inc.,
Travis Boats & Motors Baton Rouge,  Inc.,  Travis  Boating  Center  Mississippi,
Inc., Travis Boating Center Little Rock, Inc., Red River Marine Arkansas,  Inc.,
Shelby Marine Center,  Inc., and Shelby Marine Pickwick,  LLC  (collectively and
separately,  jointly and severally,  sometimes  referred to as "Borrower"),  and
TMRC, L.L.P., a Missouri limited liability partnership ("Lender"),  hereby agree
as follows:

                                    ARTICLE I

                                   Definitions

         Section 1.1  Definitions.  For  purposes of this  Agreement,  except as
otherwise expressly provided or unless the context otherwise requires, the terms
defined  in this  Article  shall  have  the  meanings  assigned  to them in this
Article, and include the plural as well as the singular.

                  "Advance"  means an advance to  Borrower  by Lender  under the
         Secured Loan Facility.

                  "Agreement" means this Loan and Security Agreement.

                   "Commitment" means Five Hundred Thousand Dollars  ($500,000),
         subject  to  reduction  as  provided  in  Section  2.7  hereof  and the
         limitations and restrictions expressly set forth herein..

                  "Default"  means an event  that,  with the giving of notice or
         passage of time, or both, would constitute an Event of Default.

                  "Default  Rate"  means at any time two  percent  (2%) over the
         rate of interest  charged by Lender  under this  Agreement  immediately
         prior to the occurrence of a Default or Event of Default.

                  "Draw  Request"  has the meaning  set forth in Section  2.1(c)
         hereof.

                  "Event of Default"  has the meaning  specified  in Section 7.1
         hereof.

                  "Liens" means, with respect to any asset, any mortgage,  lien,
         pledge,  charge,  security  interest or encumbrance of any kind, or any
         other type of preferential arrangement that has the practical effect of
         creating an encumbrance on or in respect of such asset.

                  "Loan Documents" means this Agreement and the Secured Notes.

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                  "Obligations" has the meaning set forth in Section 3.1 hereof.

                  "Parent"  means  Travis  Boats  and  Motors,   Inc.,  a  Texas
         corporation.

                  "Prime  Rate"  means the rate of interest  publicly  announced
         from time to time by JPMorgan  Chase Bank,  as its "Prime  Rate" or, if
         such  bank  ceases  to  announce  a rate  so  designated,  any  similar
         successor rate of such Bank or, if no such rate exists,  then the prime
         rate of any other bank designated by Tracker,  it being understood that
         such Prime Rate is not  necessarily the lowest rate charged by the bank
         and is  established by the bank in its sole  discretion,  and such bank
         may charge rates at, below or above the Prime Rate.

                  "Secured Loan  Facility"  means the loan  facility  being made
         available to Borrower by Lender under Article II hereof.

                  "Secured Note," means the secured  promissory note of Borrower
         payable to the order of Lender in substantially the form of Exhibit A.

                  "Senior  Lenders"  means GE  Commercial  Distribution  Finance
         Corporation and Transamerica Commercial Finance Corporation.

                  "Subsidiaries"  means,  as to  Parent,  each of the  Borrowers
         other than Parent.

                  "Tax Refund" means all general  intangible  rights of Borrower
         related to any and all refunds now or hereafter  owing to Borrower from
         the  Internal  Revenue  Service  for tax  years  ending  on or prior to
         December 31, 2002, and all proceeds thereof.

                  "Termination Date" means April 30, 2003.

                  "Term Sheet" means that  certain term sheet  between  Borrower
         and Lender  executed and delivered  this date  specifying,  among other
         things, the conditions precedent to the making of Advances hereunder.

                                   ARTICLE II

                  Amount and Terms of the Secured Loan Facility

         Section 2.1 Advances. Lender shall make Advances to Parent from time to
time,  at the sole  discretion  of the  Lender,  during the period from the date
hereof to the close of  business  on January 31,  2003,  or the earlier  date of
termination  in whole of the Secured Loan Facility  under Section 2.5 or Section
7.2 hereof,  in an aggregate  amount at any time  outstanding  not to exceed the
Commitment.  The Secured Loan Facility  shall be a draw-loan  facility up to the
aggregate  amount of the  Commitment.  Amounts  borrowed  and  repaid may not be
reborrowed.  This is not a revolving  loan facility.  Borrower  agrees to comply
with the following procedures in requesting Advances under this Section 2.1:

                  (a) Lender  shall not make any Advance  under the Secured Loan
         Facility if, after giving effect to such requested Advance,  the sum of
         the Advances  heretofore made under this Section 2.1 or otherwise would
         exceed the Commitment.

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                  (b) Lender shall not be required to make any Advance under the
         Secured  Loan  Facility  so long as an Event of  Default  exists or any
         event exists that with the passage of time or the giving of notice,  or
         both, would constitute an Event of Default.

                  (c) Each request for an Advance  shall be made in a writing to
         Lender (or agent specified in writing by Lender,  on behalf of Lender),
         which  may be  transmitted  by fax or  E-mail  (each a "Draw  Request")
         specifying  the date of the requested  Advance and the amount  thereof,
         and shall be made by the Operations Committee of the Board of Directors
         of Borrower.

                  (d) Upon fulfillment of the applicable conditions set forth in
         Section 4.2, Lender, at Lender's sole discretion, may make Advances.

                  (e) Loan  proceeds  advanced by Lender  shall be  disbursed by
         bank wire transfer to a bank account designated by Parent unless Lender
         and Parent otherwise agree.

                  (f) Each Draw Request  shall be deemed to be a  representation
         by each Borrower,  jointly and severally,  that: (i) the conditions set
         forth in this  Section 2.1 have been met, and (ii) the  conditions  set
         forth in Sections 4.1, 4.2 and 4.3, as applicable,  have been satisfied
         as of the time of the request.

         Section 2.2 Secured Note.  All  Advances,  if any, made by Lender under
this Article II shall be evidenced by the Secured Note held by Lender, and shall
be repayable with interest in accordance with the Secured Note. The principal of
the Secured  Note shall be payable (a) as provided  herein and on the earlier of
the Termination Date or acceleration by Lender or (b) with respect to prepayment
in connection with the Tax Refund, as required under Section 2.7 or acceleration
by Lender under  Section  7.2, and in each case shall bear  interest as provided
herein.

         Section 2.3  Obligations  Absolute.  The  obligations  of each Borrower
arising under this Agreement shall be absolute,  unconditional  and irrevocable,
and shall be paid strictly in accordance with the terms of this Agreement, under
all circumstances whatsoever.

         Section 2.4 Interest.  The principal of the Advances  outstanding  from
time to time  during any month  shall bear  interest  (computed  on the basis of
actual days elapsed) at the rate per annum of the Prime Rate plus 4%;  provided,
however, that at no time shall such interest rate be computed on a Prime Rate of
less than Four and  Seventy-five  One Hundredths  percent  (4.75%) per annum and
provided further that such interest rate shall in no instance exceed the maximum
interest  rate, if any,  allowed by law. The Advances shall bear interest at the
Default Rate from and after a Default or an Event of Default.  Interest accruing
on the principal balance of the Advances  outstanding from time to time shall be
payable on the Termination Date or earlier prepayment in full.

         Section 2.5 Voluntary Prepayment; Termination of Agreement by Borrower.
Borrower may, in its discretion,  prepay the Advances in whole or in part at any
time or from  time to  time.  The  Commitment  automatically  shall  be  reduced
dollar-for-dollar  by the aggregate amount prepaid pursuant to this Section 2.5.
Parent,  on behalf of  Borrower,  may  terminate  this  Agreement at any time by

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giving at least 30 days' prior written notice to Lender of Borrower's  intention
to  terminate  this  Agreement  and by  paying  in  full  the  amount  of all of
Borrowers' obligations under this Agreement and the Secured Note.

         Section 2.6 Use of Proceeds.  The  proceeds of all  Advances  hereunder
shall be used to provide  working  capital for  Borrower,  to pay for  operating
expenses  and for the  immediate  cash needs of  Borrower,  and to pay the fees,
costs and expenses of Lender.

         Section  2.7  Mandatory  Prepayment.  Immediately  upon  receipt of any
proceeds of the Tax Refund,  Borrower  will prepay the  principal  amount of the
Advances  by  delivering  to Lender  all  checks or other  evidences  of the Tax
Refund,  endorsed without  restriction to the order of Lender until such time as
the amount of the Tax Refund so applied equals the total of all Obligations then
outstanding.  Until  delivered to Lender,  all such checks or other evidences of
the Tax Refund  shall be held in trust by  Borrower  for and as the  property of
Lender.  To the extent  that the  aggregate  amount of the  proceeds  of the Tax
Refund exceeds the total of all Obligations then outstanding,  and provided that
there is no Default or Event of Default by Borrower  under this Agreement or the
Secured Note,  Lender will release its security  interest (granted under Article
III below) in the Tax Refund and will remit to Borrower  the full amount of such
excess. The Commitment  automatically shall be reduced  dollar-for-dollar by the
aggregate amount prepaid pursuant to this Section 2.7.

         Section 2.8 Payments.

         (a) Delivery of Payments.  All payments by Borrower of the  Obligations
shall be made in same day funds and  delivered  to Lender,  by wire  transfer to
such account or place as Lender may from time to time designate.

Borrower shall receive credit on the day of receipt for funds received by Lender
by 11:00 a.m. (Central time) on any business day. Funds received on any business
day after such time shall be deemed to have been paid on the next  business day.
Whenever  any  payment to be made  hereunder  shall be stated to be due on a day
that is not a business  day,  the  payment  shall be due on the next  succeeding
business day and such extension of time shall be included in the  computation of
the amount of interest and fees due hereunder.

         (b)  Invalid  Payments.  To the  extent  Borrower  makes a  payment  or
payments  to Lender,  and to the extent  any Tax Refund is  delivered  to Lender
pursuant  to  Section  2.7  hereof,  which  payments  or any  part  thereof  are
subsequently invalidated,  declared to be fraudulent or preferential,  set aside
and/or required to be repaid to a trustee, receiver or any other party under any
bankruptcy  law, state or federal law,  common law or equitable cause (or to the
Internal Revenue Service,  in the case of a Tax Refund),  then, to the extent of
such payment or proceeds repaid,  the Obligations or part thereof intended to be
satisfied  shall be revived  and  continued  in full force and effect as if such
payment or proceeds had not been received by Lender.

                                   ARTICLE III

                               Security Interest

         Section 3.1 Grant of Security  Interest.  Borrower each hereby  assigns
and  grants  to  Lender a lien  upon and  security  interest  in (the  "Security
Interest")  the Tax Refund as security for the payment and  performance  of each

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obligation of Borrower to Lender under this Agreement and the Secured Note. (All
such  obligations  being  herein  sometimes  collectively  referred  to  as  the
"Obligations").  Borrower authorizes Lender to file such Uniform Commercial Code
financing  statements and such notices with the Internal  Revenue  Service under
the Claims Act (31 U.S.C. ss. 3727 and 41 U.S.C. ss. 15) as Lender may determine
for the purpose of perfecting Lender's security interest in the Tax Refund.

                                   ARTICLE IV

                              Conditions of Lending

         Section 4.1 Conditions Precedent to the Initial Advance. The obligation
of Lender to make the initial  Advance under the Secured Loan Facility  shall be
subject to the  condition  precedent  that Lender shall have received all of the
following,  each in form and  substance  satisfactory  to  Lender  except to the
extent a condition is waived in writing by Lender:

                  (a)  This  Agreement  and  the  Secured  Note,  each  properly
         executed on behalf of Borrower;

                  (b) Borrower  shall have  provided  evidence  satisfactory  to
         Lender of the  existence  and amount of the Tax Refund and that the IRS
         Refund  has not been paid and is not  subject  to offset by the  United
         States  Internal  Revenue  Service or other agency of the United States
         Government; and

                  (c)  Confirmation  of filing of such Uniform  Commercial  Code
         financing  statements  perfecting  the  security  interest  granted  by
         Borrower  in the Tax  Refund and the  filing of such  notices  with the
         Internal Revenue Service regarding the Tax Refund as Lender determines;

                  (d) A current  certificate issued by the Secretary of State of
         the State of Texas,  certifying that Borrower is in good standing under
         the laws of the  State of Texas and a current  Certificate  of  Account
         Status issued by the Texas Comptroller of Public Accounts confirming no
         franchise tax reports or payments are due;

                  (e) A completed Draw Request;

                  (f) Copies of Parent's  Article of  Incorporation  and By-laws
         and resolutions duly adopted by the Board of Directors of each Borrower
         authorizing execution,  delivery and performance of this Agreement, the
         Secured Notes and the Obligations as certified by the Secretary of each
         Borrower;

                  (g) The  opinion  letter of  Jenkens &  Gilchrist,  counsel to
         Borrower,  on  substantially  the terms set forth in Exhibit B attached
         hereto;

                  (h)  Confirmation  that the Tax  Refund is subject to no Liens
         other than in favor of the Lender and the Senior Lenders;

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                  (i) All of the  conditions  to funding set forth and described
         in the Term Sheet shall have been satisfied or waived by Lender;

                  (j) Execution by Lender of an intercreditor agreement with the
         Senior Lenders on terms acceptable to Lender; and

                  (k)  Delivery  of  such  other  documents,   agreements,   and
         instruments,  and the performance by Borrower of such other actions, as
         may be determined by each of the Lenders in its discretion.

         Section 4.2  Determination to Make Other Advances.  After the making of
the initial  Advance,  all  subsequent  Advances under the Secured Loan Facility
shall be at the sole discretion of the Lender. In connection  therewith,  Lender
may require,  and Borrower will provide to Lender,  such further  agreements and
documents  and shall  take such  actions  or cause  such  actions to be taken as
Lender may require.

         Section 4.3  Conditions  Precedent to All Advances.  The  obligation of
Lender to make each Advance shall be subject to the further conditions precedent
that on such date:

                  (a)  the  representations  and  warranties  contained  in this
         Article IV are correct on and as of the date of such  Advance as though
         made  on  and  as  of  such  date,  except  to  the  extent  that  such
         representations and warranties relate solely to an earlier date; and

                  (b) no event has occurred and is  continuing,  or would result
         from such Advance which constitutes a Default or an Event of Default.

                  (c) each Senior  Lender  shall make  advances of funds of like
         amount of and simultaneously with the Advance being made by Lender.

                                    ARTICLE V

                         Representations and Warranties

         Borrower represents and warrants to Lender as follows:

         Section 5.1 Existence and Power;  Name.  Each Borrower is a corporation
duly  organized,  validly  existing and in good  standing  under the laws of the
jurisdiction of its  incorporation or organization,  except where the failure to
be in good  standing  would not have a material  adverse  effect on the business
taken as a whole.  The name of each Borrower set forth in the first paragraph of
this   Agreement  is  the  exact  and  current  legal  name  of  Borrower.   The
organizational  number  issued to Parent by the  Secretary  of State of Texas is
46499000.  Borrower  has  all  requisite  power  and  authority,   corporate  or
otherwise,  to conduct its business,  to own its  properties  and to execute and
deliver, and to perform all of its obligations under, the Loan Documents.

         Section  5.2  Authorization  of  Borrowing;  No  Conflict  as to Law or
Agreements. The execution, delivery and performance by each Borrower of the Loan
Documents  and the  borrowings  from  time  to time  hereunder  have  been  duly

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authorized  by all  necessary  corporate  action  and do not and will  not:  (a)
require  any  consent or  approval of the  shareholders  of such  Borrower,  (b)
require any authorization, consent or approval by, or registration,  declaration
or filing with, or notice to, any governmental  department,  commission,  board,
bureau,  agency or  instrumentality,  domestic  or  foreign,  or any third party
(other than filings on Form 8-K with the Securities  and Exchange  Commission to
disclose the transactions  contemplated by the Loan Documents),  (c) violate any
provision of any law, rule or regulation  or of any order,  writ,  injunction or
decree  presently  in effect  having  applicability  to such  Borrower or of the
Certificate of  Incorporation  or the By-laws of such Borrower,  (d) result in a
breach  of or  constitute  a  default  under  any  indenture  or loan or  credit
agreement or any other  material  agreement,  lease or  instrument to which such
Borrower is a party or by which it or its  properties  may be bound or affected,
or (e) result in, or require,  the creation or imposition of any mortgage,  deed
of trust,  pledge, lien, security interest or other charge or encumbrance of any
nature  upon or with  respect to any of the  properties  now owned or  hereafter
acquired  by such  Borrower  other  than as set  forth  in  Article  III of this
Agreement.

         Section 5.3 Legal Agreements. This Agreement constitutes,  and upon due
execution by Borrower,  the other Loan  Documents  will  constitute,  the legal,
valid and binding  obligations  of  Borrower,  enforceable  against  Borrower in
accordance with their respective terms.

         Section  5.4  Litigation.  There are no actions,  suits or  proceedings
pending  or, to the  knowledge  of  Borrower,  threatened  against or  affecting
Borrower  or the  properties  of  Borrower  before  any  court  or  governmental
department,  commission,  board, bureau, agency or instrumentality,  domestic or
foreign,  which,  if  determined  adversely to  Borrower,  would have a material
adverse effect on the financial condition, properties or operations of Borrower.

         Section 5.5 Title and Liens. The Borrowers  collectively  have good and
absolute  title to the right to  receive  the Tax  Refund  free and clear of all
Liens other than security interests in favor of Senior Lenders.

                                   ARTICLE VI

                            Covenants and Agreements

         Section 6.1 Reporting Requirements. Parent will deliver, or cause to be
delivered,   to  Lender  such  financial  statements,   financial   information,
projections  and other  information  regarding  the  business of Borrower  (on a
consolidated  basis) as Lender may require  from time to time in  Lender's  sole
discretion.  In addition, to the extent any Borrower is obligated to furnish any
such  financial  statements  or  information  to any  other  provider  of credit
facilities or loans or floor-planning financing, Parent will cause copies of all
such information to be delivered simultaneously to Lender.

         Section 6.2 Authorization to File Financing  Statements.  Each Borrower
hereby  irrevocably  authorizes  Lender (or Lender's agent) at any time and from
time to time to file in any filing office in any jurisdiction  initial financing
statements and amendments thereto that describe or indicate the Tax Refund.

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         Section 6.3  Indemnification.  Each  Borrower,  jointly and  severally,
agrees to indemnify,  defend and hold harmless the Lender,  and its  affiliates,
successors  and  assigns,  and  all  present  and  future  officers,  directors,
employees  and  agents of any of the  foregoing  (the  "Indemnitees"),  from and
against (i) any and all  liabilities,  losses,  damages,  penalties,  judgments,
suits, claims,  costs and expenses of any kind or nature whatsoever  (including,
without  limitation,  the  reasonable  fees and  disbursements  of  counsel)  in
connection  with any  investigative,  administrative  or  judicial  proceedings,
whether or not such Indemnitee shall be designated a party thereto, which may be
imposed on,  incurred  by or asserted  against  such  Indemnitee,  in any manner
relating to or arising out of or in connection  with the making of the Advances,
the Tax Refund (including any governmental  disgorgement  attempt or proceeding)
or the use of intended  use of the proceeds of the  Advances  (the  "Indemnified
Liabilities"),  EVEN IF A COURT DETERMINES THAT THE LENDER'S  NEGLIGENCE  (OTHER
THAN GROSS  NEGLIGENCE)  CAUSED SUCH LOSS,  LIABILITY  OR EXPENSE IN WHOLE OR IN
PART. If any investigative,  judicial or administrative  proceeding arising from
any of the  foregoing is brought  against any  Indemnitee,  upon request of such
Indemnitee,   such  Borrower,   or  counsel  designated  by  such  Borrower  and
satisfactory  to the  Indemnitee,  will resist and defend such  action,  suit or
proceeding to the extent and in the manner as may be reasonably  directed by the
Indemnitee,  at such Borrower's sole cost and expense.  Each Indemnitee will use
its best  efforts  to  cooperate  in the  defense  of any such  action,  suit or
proceeding. If the foregoing undertaking to indemnity,  defend and hold harmless
may be held to be  unenforceable  because it violates any law or public  policy,
such Borrower shall  nevertheless  make the maximum  contribution to the payment
and  satisfaction  of each of the Indemnified  Liabilities  which is permissible
under  applicable  law. The  obligation of such Borrower  under this Section 6.3
shall  survive the  termination  of this  Agreement  and the  discharge  of such
Borrower" Obligations.

                                   ARTICLE VII

                     Events of Default, Rights and Remedies

         Section  7.1  Events of  Default.  "Event of  Default",  wherever  used
herein, means any one of the following events:

                  (a) Any default payment of any interest on or principal of the
         Secured Note when due or in the  performance,  or breach,  of any other
         covenant or agreement of any Borrower  contained in this Agreement,  in
         the Secured  Note or in any other  agreement to which both the Borrower
         and Lender is a party; or

                  (b) Any  Borrower  shall  liquidate,  dissolve,  terminate  or
         suspend  its  business  operations  or  otherwise  fail to operate  its
         business in the ordinary course,  or sell all or  substantially  all of
         its assets, without the prior written consent of Lender; or

                  (c) A petition is filed by or against any  Borrower  under the
         United States Bankruptcy Code naming such Borrower as debtor;

                  (d) Any  representation  or warranty  made by Borrower in this
         Agreement, the Secured Notes or in any other certificate, instrument or
         statement  made or  delivered  pursuant to or in  connection  with this
         Agreement,  the Secured Notes or any other  agreement to which both the

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         Borrower  and Lender is a party shall prove to have been  incorrect  in
         any material respect; or

                  (e) Any default by any Borrower  under any credit  facility of
         Borrower with a Senior Lender.

         Section 7.2 Rights and  Remedies.  Upon the  occurrence  of an Event of
Default, Lender may exercise any or all of the following rights and remedies:

                  (a) Lender, may, by notice to Parent, declare the Secured Loan
         Facility  to  be  terminated,   whereupon  the  same  shall   forthwith
         terminate;

                  (b) Lender may, by notice to Parent,  declare to be  forthwith
         due and payable the entire unpaid  principal amount of the Secured Note
         then  outstanding,  all interest  accrued and unpaid  thereon,  and all
         amounts payable under this  Agreement,  whereupon the Secured Note, all
         such accrued interest and all such amounts and obligations shall become
         and be  forthwith  due and  payable,  without  presentment,  notice  of
         dishonor,  protest  or  further  notice of any  kind,  all of which are
         hereby expressly waived by each Borrower; and

                  (c)  Lender  may   exercise  any  other  rights  and  remedies
         available to it under the Loan Documents,  the Uniform  Commercial Code
         or under other applicable law.

                                  ARTICLE VIII

                                  Miscellaneous

         Section 8.1 No Waiver;  Cumulative Remedies. No failure or delay on the
part of Lender in exercising any right, power or remedy under the Loan Documents
shall operate as a waiver thereof;  nor shall any single or partial  exercise of
any such right,  power or remedy preclude any other or further  exercise thereof
or the  exercise of any other right,  power or remedy under the Loan  Documents.
The remedies  provided in the Loan Documents are cumulative and not exclusive of
any remedies provided by law.

         Section 8.2 Amendments, Etc. No amendment, modification, termination or
waiver of any  provision  of any Loan  Document or consent to any  departure  by
Borrower  therefrom  shall be effective  unless the same shall be in writing and
signed by Lender, and then such waiver or consent shall be effective only in the
specific  instance and for the specific purpose for which given. No notice to or
demand on  Borrower in any case shall  entitle  Borrower to any other or further
notice or demand in similar or other circumstances.

         Section 8.3 Addresses for Notices,  Etc. Except as otherwise  expressly
provided  herein,  all  notices,  requests,  demands  and  other  communications
provided  for under the Loan  Documents  shall be in  writing  and shall be: (a)
personally  delivered,  (b) sent by first class United States mail,  (c) sent by
overnight  courier of national  reputation,  or (d)  transmitted  by telecopy or
e-mail followed,  within twenty-four (24) hours, by personal delivery or deposit
with an overnight courier of national reputation,  in each case addressed to the

                                       9
<PAGE>

party to whom  notice is being  given at its  address as set forth below and, if
telecopied, transmitted to that party at its telecopier number set forth below:

                  If to any Borrower:

                  c/o Travis Boats & Motors, Inc.
                  12116 Jekel Circle
                  Suite 102
                  Austin, Texas 78727
                  Attention:  Mark T. Walton
                  Facsimile No:  (512) 329-0480

                  With copies to:

                  Jenkens & Gilchrist
                  2200 One American Center
                  6000 Congress Avenue
                  Austin, Texas 78701
                  Attention:  J. Rowland Cook, Esq.
                  Facsimile No:  (512) 404-3520

                  If to Lender:

                  TMRC, L.L.P.
                  c/o Tracker Marine LLC
                  2500 East Kearny Street
                  Springfield, Missouri 65803
                  Attention:  Kenneth N. Burroughs
                  Facsimile No:  (417) 873-5052

                  With copies to:

                  Gallop, Johnson & Neuman, L.C.
                  101 South Hanley Road, Suite 1600
                  St. Louis, Missouri 63105
                  Attention:  Robert H. Wexler, Esq.
                  Facsimile No:  (314) 615-6001

or,  as to each  party,  at such  other  address  or  telecopier  number  as may
hereafter  be  designated  by such party in a written  notice to the other party
complying  as to  delivery  with the terms of this  Section.  All such  notices,
requests,  demands and other  communications  shall be deemed to have been given
on: (a) the date received if personally  delivered,  (b) three (3) business days
after  deposit in the mail if delivered by mail,  (c) one (1) business day after
being sent by overnight  courier,  or (d) the date of  transmission by telecopy,
provided such telecopy is followed  within 24 hours of  transmission by delivery
to Lender or deposit with an overnight  carrier of an original of the telecopied
document,  except that notices or requests to Lender  (including but not limited

                                       10
<PAGE>

to Draw  Requests)  pursuant to any of the provisions of Article II shall not be
effective until received by Lender.

         Section 8.4 Execution in  Counterparts.  This  Agreement and other Loan
Documents may be executed in any number of  counterparts,  each of which when so
executed  and  delivered  shall be  deemed  to be an  original  and all of which
counterparts, taken together, shall constitute but one and the same instrument.

         Section 8.5 Binding Effect;  Assignment;  Complete Agreement.  The Loan
Documents  shall be binding upon and inure to the benefit of Borrower and Lender
and their respective successors and assigns, except that Borrower shall not have
the right to assign its rights  thereunder or any interest  therein  without the
prior written consent of Lender.  This  Agreement,  together with the other Loan
Documents, comprises the complete and integrated agreement of the parties on the
subject matter hereof and supersedes all prior  agreements,  written or oral, on
the subject matter hereof.

         Section 8.6  Governing  Law.  This  Agreement  shall be governed by and
construed  in  accordance  with the  substantive  laws of the State of  Missouri
without regard to its choice-of-law or conflicts-of-law principles.

         Section 8.7 Severability of Provisions. Any provision of this Agreement
that is prohibited or  unenforceable  shall be ineffective to the extent of such
prohibition or unenforceability  without  invalidating the remaining  provisions
hereof.

         Section 8.8 Headings.  Article and Section  headings in this  Agreement
are included herein for convenience of reference only and shall not constitute a
part of this Agreement for any other purpose.

         Section 8.9 Costs and  Expenses.  The Borrower  agrees to pay on demand
all reasonable costs and expenses  (including  attorneys' fees) incurred by each
of the Lender in connection with transactions contemplated hereunder, including,
without  limitation,  the  preparation and negotiation of the Loan Documents and
all other documents relating to such Loan Documents,  the filing or recording of
any documents or notices,  and all expenses of collection and enforcement of the
Obligations  and  satisfaction,  foreclosure  or  enforcement  of  the  security
interest herein granted.

         Section 8.10 Construction.  This Agreement has been fully negotiated by
the parties,  and there is to be no  construction  against either party based on
any presumption of that party's involvement in the drafting thereof.

         Section 8.11 Statutory Notice Regarding Oral Agreements.  The following
notice is given pursuant to Section  432.045 of the Missouri  Revised  Statutes;
nothing  contained  in such notice may be deemed to limit or modify the terms of
the Loan Documents:

ORAL  AGREEMENTS OR COMMITMENTS TO LOAN MONEY,  EXTEND CREDIT OR TO FORBEAR FROM
ENFORCING  REPAYMENT OF A DEBT  INCLUDING  PROMISES TO EXTEND OR RENEW SUCH DEBT
ARE  NOT   ENFORCEABLE.   TO  PROTECT  YOU   (BORROWER)  AND  US  (LENDER)  FROM

                                       11
<PAGE>

MISUNDERSTANDING  OR  DISAPPOINTMENT,  ANY  AGREEMENTS  WE REACH  COVERING  SUCH
MATTERS ARE  CONTAINED  IN THE  WRITING,  WHICH IS THE  COMPLETE  AND  EXCLUSIVE
STATEMENT OF THE  AGREEMENT  BETWEEN US, EXCEPT AS WE MAY LATER AGREE IN WRITING
TO MODIFY IT.

            [Remaining portion of this page is intentionally blank.]

                                       12
<PAGE>

         IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be
executed by their respective  officers  thereunto duly authorized as of the date
first above written.

                                     TRAVIS BOATS & MOTORS, INC.,  as a Borrower

                                     By:
                                        ----------------------------------------
                                     Name:
                                          --------------------------------------
                                     Title:
                                           -------------------------------------

                                     TBC ARKANSAS, INC., as a Borrower

                                     By:
                                        ----------------------------------------
                                     Name:
                                          --------------------------------------
                                     Title:
                                           -------------------------------------

                                     TRAVIS BOATING CENTER ARLINGTON, INC.,
                                     as a Borrower

                                     By:
                                        ----------------------------------------
                                     Name:
                                          --------------------------------------
                                     Title:
                                           -------------------------------------

                                     TRAVIS BOATING CENTER BEAUMONT, INC.,
                                     as a Borrower

                                     By:
                                        ----------------------------------------
                                     Name:
                                          --------------------------------------
                                     Title:
                                           -------------------------------------

                                     TRAVIS BOATING CENTER OKLAHOMA, INC.,
                                     as a Borrower

                                     By:
                                        ----------------------------------------
                                     Name:
                                          --------------------------------------
                                     Title:
                                           -------------------------------------

                                       13

<PAGE>
                                     TRAVIS BOATING CENTER TENNESSEE, INC.,
                                     as a Borrower

                                     By:
                                        ----------------------------------------
                                     Name:
                                          --------------------------------------
                                     Title:
                                           -------------------------------------

                                     TRAVIS SNOWDEN MARINE, INC.,  as a Borrower

                                     By:
                                        ----------------------------------------
                                     Name:
                                          --------------------------------------
                                     Title:
                                           -------------------------------------

                                     FALCON MARINE, INC.,  as a Borrower

                                     By:
                                        ----------------------------------------
                                     Name:
                                          --------------------------------------
                                     Title:
                                           -------------------------------------

                                     FALCON MARINE ABILENE, INC.,  as a Borrower

                                     By:
                                        ----------------------------------------
                                     Name:
                                          --------------------------------------
                                     Title:
                                           -------------------------------------

                                     TRAVIS BOATING CENTER ALABAMA, INC.,
                                     as a Borrower

                                     By:
                                        ----------------------------------------
                                     Name:
                                          --------------------------------------
                                     Title:
                                           -------------------------------------

                                     TRAVIS BOATING CENTER LOUISIANA, INC.,
                                     as a Borrower

                                     By:
                                        ----------------------------------------
                                     Name:
                                          --------------------------------------
                                     Title:
                                           -------------------------------------

                                       14
<PAGE>

                                     TRAVIS BOATS & MOTORS BATON ROUGE, INC.,
                                     as a Borrower

                                     By:
                                        ----------------------------------------
                                     Name:
                                          --------------------------------------
                                     Title:
                                           -------------------------------------

                                     TRAVIS BOATING CENTER MISSISSIPPI, INC.,
                                     as a Borrower

                                     By:
                                        ----------------------------------------
                                     Name:
                                          --------------------------------------
                                     Title:
                                           -------------------------------------

                                     TRAVIS BOATING CENTER LITTLE ROCK, INC.,
                                     as a Borrower

                                     By:
                                        ----------------------------------------
                                     Name:
                                          --------------------------------------
                                     Title:
                                           -------------------------------------

                                     RED RIVER MARINE ARKANSAS, INC.,
                                     as a Borrower

                                     By:
                                        ----------------------------------------
                                     Name:
                                          --------------------------------------
                                     Title:
                                           -------------------------------------

                                     SHELBY MARINE CENTER, INC.,  as a Borrower

                                     By:
                                        ----------------------------------------
                                     Name:
                                          --------------------------------------
                                     Title:
                                           -------------------------------------

                                       15
<PAGE>

                                     SHELBY MARINE PICKWICK, LLC,  as a Borrower

                                     By:
                                        ----------------------------------------
                                     Name:
                                          --------------------------------------
                                     Title:
                                           -------------------------------------

                                     LENDER:

                                     TMRC, L.L.P.,
                                     a Missouri limited liability partnership

                                     By: Tracker Marine, LLC,
                                         its __________________________

                                     By: Three Johns Company,
                                         Its Sole Member

                                     By:
                                        ----------------------------------------

                                     Name:
                                          --------------------------------------

                                     Title:
                                           -------------------------------------

                                       16
<PAGE>

                                                                       EXHIBIT A

                             SECURED PROMISSORY NOTE
$500,000.00                                                Springfield, Missouri
                                                                January __, 2003

         FOR VALUE RECEIVED,  the  undersigned,  Travis Boats & Motors,  Inc., a
Texas corporation,  TBC Arkansas,  Inc., Travis Boating Center Arlington,  Inc.,
Travis Boating Center  Beaumont,  Inc.,  Travis Boating Center  Oklahoma,  Inc.,
Travis Boating Center  Tennessee,  Inc.,  Travis Snowden  Marine,  Inc.,  Falcon
Marine, Inc., Falcon Marine Abilene,  Inc., Travis Boating Center Alabama, Inc.,
Travis Boating Center Louisiana,  Inc., Travis Boats & Motors Baton Rouge, Inc.,
Travis  Boating  Center  Mississippi,  Inc.,  Travis Boating Center Little Rock,
Inc., Red River Marine Arkansas,  Inc.,  Shelby Marine Center,  Inc., and Shelby
Marine  Pickwick,  LLC  (collectively  and  separately,  jointly and  severally,
referred to as, "Borrower"), hereby promise to pay to the order of TMRC, L.L.P.,
a Missouri limited  liability  partnership  ("Lender"),  c/o Tracker Marine LLC,
2500 East Kearny  Street,  Springfield,  Missouri  65803,  or at any other place
designated  at any time by the  holder  hereof,  in lawful  money of the  United
States of America and in immediately  available funds, the principal sum of Five
Hundred  Thousand and no/100  Dollars  ($500,000.00)  or, if less, the aggregate
unpaid  principal  amount of all Advances  made by Lender to Borrower  under the
Loan and  Security  Agreement  (defined  below)  together  with  interest on the
principal amount hereunder  remaining unpaid from time to time,  computed on the
basis of the actual  number of days  elapsed,  at the interest  rate as provided
under the Loan and  Security  Agreement  of even date  herewith  by and  between
Lenders and Borrower (the "Loan and Security  Agreement").  The principal hereof
shall be due and  payable  April 30,  2003,  (subject  to earlier  repayment  as
provided  in the Loan and  Security  Agreement),  and  interest  accruing on the
principal  balance shall be due and payable as provided in the Loan and Security
Agreement. This Secured Note may be prepaid only in accordance with the Loan and
Security Agreement.

         This Secured Note is issued pursuant,  and is subject,  to the Loan and
Security Agreement, which provides, among other things, for acceleration hereof,
and the holder hereof is entitled to the benefits thereof.  This Secured Note is
the "Secured Note" referred to in the Loan and Security Agreement.

         This Secured Note is secured by the security  interest set forth in the
Loan and  Security  Agreement.  The holder of this  Secured  Note shall have the
benefit of such security interest.

         Borrower  hereby  agrees  to pay all  costs  of  collection,  including
reasonable  attorneys' fees and legal expenses in the event this Secured Note is
not paid when due, whether or not legal proceedings are commenced.

         This Secured Note shall be governed by and construed in accordance with
the internal substantive laws of the State of Missouri,  regardless of the place
of execution of this Agreement by any party hereto.

                                      A-1
<PAGE>

         Presentment or other demand for payment, notice of dishonor and protest
are expressly waived.

ORAL  AGREEMENTS OR COMMITMENTS TO LOAN MONEY,  EXTEND CREDIT OR TO FORBEAR FROM
ENFORCING  REPAYMENT OF A DEBT  INCLUDING  PROMISES TO EXTEND OR RENEW SUCH DEBT
ARE  NOT   ENFORCEABLE.   TO  PROTECT  YOU  (BORROWER)  AND  US  (LENDERS)  FROM
MISUNDERSTANDING  OR  DISAPPOINTMENT,  ANY  AGREEMENTS  WE REACH  COVERING  SUCH
MATTERS ARE  CONTAINED  IN THE  WRITING,  WHICH IS THE  COMPLETE  AND  EXCLUSIVE
STATEMENT OF THE  AGREEMENT  BETWEEN US, EXCEPT AS WE MAY LATER AGREE IN WRITING
TO MODIFY IT.

                               TRAVIS BOATS & MOTORS, INC.,  as a Borrower

                               By:
                                  ----------------------------------------------
                               Name:
                                    --------------------------------------------
                               Title:
                                     -------------------------------------------

                               TBC ARKANSAS, INC., as a Borrower

                               By:
                                   ---------------------------------------------
                               Name:
                                     -------------------------------------------
                               Title:
                                      ------------------------------------------

                               TRAVIS BOATING CENTER ARLINGTON, INC.,
                               as a Borrower

                               By:
                                  ----------------------------------------------
                               Name:
                                    --------------------------------------------
                               Title:
                                     -------------------------------------------

                               TRAVIS BOATING CENTER BEAUMONT, INC.,
                               as a Borrower

                               By:
                                  ----------------------------------------------
                               Name:
                                    --------------------------------------------
                               Title:
                                     -------------------------------------------

                                      A-2
<PAGE>

                               TRAVIS BOATING CENTER OKLAHOMA, INC.,
                               as a Borrower

                               By:
                                  ----------------------------------------------
                               Name:
                                    --------------------------------------------
                               Title:
                                     -------------------------------------------

                               TRAVIS BOATING CENTER TENNESSEE, INC.,
                               as a Borrower

                               By:
                                  ----------------------------------------------
                               Name:
                                    --------------------------------------------
                               Title:
                                     -------------------------------------------

                               TRAVIS SNOWDEN MARINE, INC.,  as a Borrower

                               By:
                                  ----------------------------------------------
                               Name:
                                    --------------------------------------------
                               Title:
                                     -------------------------------------------

                               FALCON MARINE, INC.,  as a Borrower

                               By:
                                  ----------------------------------------------
                               Name:
                                    --------------------------------------------
                               Title:
                                     -------------------------------------------

                               FALCON MARINE ABILENE, INC.,  as a Borrower

                               By:
                                  ----------------------------------------------
                               Name:
                                    --------------------------------------------
                               Title:
                                     -------------------------------------------

                               TRAVIS BOATING CENTER ALABAMA, INC.,
                               as a Borrower

                               By:
                                  ----------------------------------------------
                               Name:
                                    --------------------------------------------
                               Title:
                                     -------------------------------------------

                                      A-3
<PAGE>

                               TRAVIS BOATING CENTER LOUISIANA, INC.,
                               as a Borrower

                               By:
                                  ----------------------------------------------
                               Name:
                                    --------------------------------------------
                               Title:
                                     -------------------------------------------

                               TRAVIS BOATS & MOTORS BATON ROUGE, INC.,
                               as a Borrower

                               By:
                                  ----------------------------------------------
                               Name:
                                    --------------------------------------------
                               Title:
                                     -------------------------------------------

                               TRAVIS BOATING CENTER MISSISSIPPI, INC.,
                               as a Borrower

                               By:
                                  ----------------------------------------------
                               Name:
                                    --------------------------------------------
                               Title:
                                     -------------------------------------------

                               TRAVIS BOATING CENTER LITTLE ROCK, INC.,
                               as a Borrower

                               By:
                                  ----------------------------------------------
                               Name:
                                    --------------------------------------------
                               Title:
                                     -------------------------------------------

                               RED RIVER MARINE ARKANSAS, INC.,  as a Borrower

                               By:
                                  ----------------------------------------------
                               Name:
                                    --------------------------------------------
                               Title:
                                     -------------------------------------------

                                      A-4
<PAGE>

                               SHELBY MARINE CENTER, INC.,  as a Borrower

                               By:
                                  ----------------------------------------------
                               Name:
                                    --------------------------------------------
                               Title:
                                     -------------------------------------------

                               SHELBY MARINE PICKWICK, LLC,  as a Borrower

                               By:
                                  ----------------------------------------------
                               Name:
                                    --------------------------------------------
                               Title:
                                     -------------------------------------------

                                      A-5

<PAGE>

                                                                       EXHIBIT B

                 [FORM OF LEGAL OPINION OF COUNSEL TO BORROWER]EXHIBIT 10.72

                                    AMENDMENT

                                    REGARDING

                AMENDED AND RESTATED LOAN AND SECURITY AGREEMENT

         This  AMENDMENT  REGARDING  AMENDED  AND  RESTATED  LOAN  AND  SECURITY
AGREEMENT   (this   "Agreement")  is  entered  as  of  December  30,  2002  (the
"Modification  Date"),  by and among by and among  Travis  Boats & Motors,  Inc.
("TRVS"),  TBC Arkansas,  Inc.,  Travis Boating Center  Arlington,  Inc., Travis
Boating Center  Beaumont,  Inc.,  Travis Boating Center Oklahoma,  Inc.,  Travis
Boating Center  Tennessee,  Inc.,  Travis Snowden Marine,  Inc.,  Falcon Marine,
Inc., Falcon Marine Abilene,  Inc., Travis Boating Center Alabama,  Inc., Travis
Boating Center Louisiana,  Inc., Travis Boats & Motors Baton Rouge, Inc., Travis
Boating Center  Mississippi,  Inc., Travis Boating Center Little Rock, Inc., Red
River Marine  Arkansas,  Inc.,  Shelby Marine  Center,  Inc.,  and Shelby Marine
Pickwick, LLC (collectively and separately,  jointly and severally,  referred to
as, "Borrower"),  and GE Commercial  Distribution Finance Corporation,  formerly
known as Deutsche Financial Services Corporation, ("CDF").

                                    Recitals:

A.       Borrower  and CDF are party to that certain  Amended and Restated  Loan
         and Security  Agreement  dated as of December 14, 2001 (as amended from
         time to time, the "Original Loan Agreement").

B.       Borrower is in Default as of the date hereof  under the  Original  Loan
         Agreement  for  failing  to  remit  payment  to CDF for  (i)  Floorplan
         Inventory sold by Borrower  ("SAU"),  (ii) Unpaid Matured Inventory (as
         define below), and (iii) Unpaid Curtailments (as defined below).

C.       Borrower is in default to Hibernia Bank solely for the breach of a cash
         flow covenant (the "Hibernia Undeclared Default").

D.       CDF is willing to forbear from exercising its rights and remedies under
         the Original  Loan  Agreement as a result of  Borrower's  Default under
         certain conditions, including execution of this Amendment and execution
         of a Credit and Security Agreement with TMRC, L.L.P. ("TMRC") regarding
         loan(s) to Borrower (the "TMRC Loan Agreement") and CDF has agreed,  in
         consideration of Borrower  meeting such  conditions,  to make available
         the IRS Refund Loan on the terms and conditions stated herein.

E.       CDF and Borrower have agreed to the  provisions set forth herein on the
         terms and conditions contained herein.

                                    Agreement

         Therefore,  in consideration of the mutual  agreements herein and other
sufficient consideration, the receipt of which is hereby acknowledged,  Borrower
and the Lender hereby agree as follows:

1. Definitions. All references to the "Agreement" or the "Loan Agreement" in the
Original Loan Agreement and in this  Agreement  shall be deemed to be references
to the Original Loan Agreement as it may be further amended, restated, extended,
renewed,  replaced,  or otherwise  modified from time to time. All references in
the Original  Loan  Agreement  and the Loan  Documents  to  "Deutsche  Financial
Services  Corporation"  are  hereby  amended to be "GE  Commercial  Distribution
Finance Corporation, formerly known as Deutsche Financial Services Corporation,"

                                       1
<PAGE>

and all  references  in the Original Loan  Agreement  and the Loan  Documents to
"DFS" are hereby amended to be "CDF."  Capitalized  terms used and not otherwise
defined herein have the meanings given them in the Original Loan Agreement.

2.  Conditions  to  Effectiveness  of  Agreement.  This  Agreement  shall become
effective  when, and only if, each of the following  conditions have been met to
the  satisfaction  of CDF: (i) this  Agreement has been executed by Borrower and
CDF, (ii) the TMRC Loan Agreement has been executed by Borrower and TMRC,  (iii)
each of the conditions  listed in the TMRC Loan  Agreement to its  effectiveness
and to the  funding of advances  thereunder  have been  satisfied,  and (iv) the
documents  listed on Exhibit A to this  Agreement  have been  delivered  and, as
applicable,   executed,   sealed,   attested,   acknowledged,    certified,   or
authenticated, each in form and substance satisfactory to CDF.

3. Waiver of Certain  Defaults;  No Other Waiver.  Borrower hereby  acknowledges
that (a)  Defaults  have  occurred  due to  Borrower's  breach of Section  2.2.2
(Payment  Terms for Floorplan  Inventory)  and/or  financing  terms  pursuant to
Statements of Transaction  relating to the SAU, the Unpaid Matured Inventory and
the Unpaid Curtailments, and (b) Borrower is in default to Hibernia Bank for the
Hibernia  Undecalred  Default.  Borrower  further  acknowledges  that, as of the
Modification  Date,  the  amount of the SAU is  $756,266.50,  the  amount of the
Unpaid  Matured   Inventory  is  $59,890.08,   and  the  amount  of  the  Unpaid
Curtailments  is  $642,048.28.  Additionally,  Borrower  will  pay  CDF  on  the
Modification  Date the net  amount of (i) the SAU,  less (ii) the  amount of new
Revolving Loan  availability  based on Eligible Used Inventory owned by Borrower
more than 365 days, plus availability for Parts and Accessories,  and less (iii)
additional  Floorplan  Inventory or Revolving  Loan  availability  ($146,160.32)
based on Eligible  Inventory  transferred  to a Borrower  from an  affiliate  in
Florida or Georgia  (such net amount  being the  "Uncollateralized  SAU" and the
remaining  SAU  being  the  "Collateralized  SAU");  Borrower  will  pay CDF the
remaining  Collateralized  SAU together  with all Unpaid  Matured  Inventory and
Unpaid  Curtailments  on  or  before  April  30,  2003.  Borrower  warrants  and
represents to CDF that as of the  Modification  Date, no payment  Defaults exist
under the Original Loan Agreement  except the SAU, the Unpaid Matured  Inventory
and the Unpaid  Curtailments.  Borrower  further  warrants and represents to CDF
that (1)  Borrower  is not in default to Hibernia  Bank except for the  Hibernia
Undeclared  Default,  and (2)  Hibernia  Bank  has  not  declared  the  Hibernia
Undeclared  Default to be a default or event of default upon which Hibernia Bank
may exercise any rights or remedies against any Borrower or Affiliate.  Upon the
effectiveness  of this Agreement,  except for the Non-Waived  Defaults  (defined
below)  CDF  waives  all  Defaults  under the  Original  Loan  Agreement  or any
agreement,   document  or  instrument   entered  into  in  connection   with  or
contemplated  by the Original  Loan  Agreement and events in existence as of the
Modification Date which with the passage of time would become Defaults,  and all
Defaults and events which with the passage of time would become Defaults,  other
than the Non-Waived Defaults,  arising through the date that is thirty (30) days
after the  Modification  Date.  Subject  to the terms and  conditions  contained
herein, CDF hereby waives the Defaults described in the preceding  sentence.  As
used  herein,  "Non-Waived  Defaults"  shall  mean  any of any of the  following
Defaults  under the  Original  Loan  Agreement  or any  agreement,  document  or
instrument  entered  into  in  connection  with  or  contemplated  by  the  Loan
Agreement:

(A) Any Default arising as a result of any failure to make any required  payment
to CDF or any of the IRS Refund Loan Lenders, including, but not limited to, any
payment of principal or interest; or

(B)  Any Default  arising as a result of violation  of any covenant  relating to
     minimum  tangible  net  worth,  as  hereby  amended,   of  Borrowers  on  a
     consolidated basis; or

(C)  Any Default  arising as a result of any violation of any covenant  relating
     to  ownership,  control,  management,  mergers,  consolidations,   sale  or
     purchase of assets or stock of any Borrower, other than as contemplated for
     TMRC or another entity majority owned by Tracker Marine,  L.L.C. to acquire
     a controlling interest in the common stock of TRVS; or

                                       2
<PAGE>

(D)  Any  Default  arising  as  a  result  of  any  material  violation  of  any
     representation  or  warranty  or any  violation  of any  representation  or
     warranty  that  causes a material  adverse  change in the  business  of the
     Borrower; or

(E)  Any Default  arising as a result of any violation of any covenant  relating
     to granting of liens,  other than  permitted  liens,  or the  incurrence of
     indebtedness, other than Permitted Indebtedness, of Borrower, other than as
     contemplated for the IRS Refund Loan; or

(F)  Any  Default  arising as a result of any  Borrower  becoming  insolvent  or
     generally  failing to pay, or  admitting  in writing its  inability to pay,
     such person's or entity's  debts as they become due, or a proceeding  under
     any   bankruptcy,   reorganization,   arrangement   of  debt,   insolvency,
     readjustment of debt or receivership  law or statute is filed by or against
     any  Borrower  or any  Borrower  makes an  assignment  for the  benefit  of
     creditors; or

(G)  Any Default arising as a result of any termination of any guaranty; or

(H)  Any  Default  arising as a result of (i) any failure to deliver on a timely
     basis as  required  in  accordance  with the  terms  of the  Original  Loan
     Agreement or any agreement, document or instrument relating to the Original
     Loan Agreement any borrowing base  certificate or other report  relating to
     inventory  and/or  accounts  receivable  (other  than  the  report  of  the
     independent  auditors or the 10K to the Securities and Exchange Commission,
     provided that such audit report and 10K are delivered by January 14, 2003);
     or (ii) any  misrepresentation  contained in any borrowing base certificate
     or other report relating to inventory and/or accounts receivable; or

(I)  Hibernia  Bank  declaring  orally or in  writing  the  Hibernia  Undeclared
     Default to be a default or event of default  upon which  Hibernia  Bank may
     exercise any rights or remedies against any Borrower or Affiliate.

 Upon any  further  Defaults  after the date that is thirty  (30) days after the
Modification Date or upon the occurrence of any Non-Waived Defaults at any time,
all rights and remedies of CDF, whether pursuant to the Original Loan Agreement,
the other Loan  Documents,  the Bridge Loan  Agreement,  or  available at law or
equity,  shall be available to CDF,  including  without  limitation the right to
accelerate the Obligations and foreclose on any or all Collateral.

4. Amendments.
         4.1. New Definitions. The following new definitions are hereby added in
alphabetical order to Section 1 of the Original Loan Agreement as follows:

         "IRS Refund  Loan' shall mean that  working  capital  loan  pursuant to
         Section 2.4 of this Agreement."

         "Modification Date" shall mean December 30, 2002.

         "Tax  Refund   Intercreditor   Agreement'   shall  mean  that   certain
         Intercreditor  Agreement  by and  between  CDF,  TMRC and  Transamerica
         Commercial Finance  Corporation,  dated as of the Modification Date, as
         amended, modified, restated or replaced from time to time."

                                       3
<PAGE>

         "SAU' shall mean the amount owed under Section 2.2.2 of this  Agreement
         as of the Modification Date for sold Floorplan Inventory, but unpaid by
         Borrower to CDF contrary to the terms of this Agreement."

         "Unpaid Curtailments' shall mean principal reductions against inventory
         as required  periodically  under the financing programs pursuant to the
         Original  Loan  Agreement  for which the required  payment has not been
         remitted to CDF."

         "Unpaid  Matured  Inventory'  shall mean inventory older than permitted
         under the financing program pursuant to the Original Loan Agreement for
         which the required payment has not been remitted to CDF."

         4.2. Existing Definitions.

                  4.2.1. Eligible Used Inventory.

                  The reference in the definition of "Eligible  Used  Inventory"
                  in the existing proviso thereto to "Eligible New Inventory" is
                  deleted  and  replaced  with  "Eligible  Used  Inventory".  In
                  addition,  the following is added at the end of the definition
                  of "Eligible Used Inventory":

                           "provided,  however, that from the Modification Date,
                           through  and  including  April  30,  2003,  CDF  will
                           consider  Inventory  owned by Borrower  more than 365
                           days,  subject to all other eligibility  criteria and
                           the  terms of this  Agreement,  to be  Eligible  Used
                           Inventory  solely  for  the  purpose  of  calculating
                           Eligible Used Inventory Availability."

                  4.3.1.   Total Credit Facility.
                  The  "and"  immediately  preceding  Subsection  2.1(c)  of the
                  Original Loan  Agreement is deleted and the following is added
                  at the end of subsection 2.1(c) of the Original Loan Agreement
                  and  before  the  parenthetical  defined  term  "Total  Credit
                  Limit":

                           ",  and  (d)  Forty  Million  Five  Hundred  Thousand
                           Dollars  ($40,500,000)  on and after the Modification
                           Date, including a maximum for (i) Floorplan Inventory
                           of Thirty One Million Five Hundred  Thousand  Dollars
                           ($31,500,000), plus (ii) Revolving Credit Loans (with
                           sub-limits  for Eligible Used  Inventory and Eligible
                           Parts and  Accessories  as  specified  below) of Five
                           Million Five Hundred Thousand  Dollars  ($5,500,000),
                           plus  (iii)   approvals   to  Approved   Vendors  for
                           financing  Floorplan  Inventory for which CDF has not
                           remitted payment ("Open  Approvals") of Three Million
                           Dollars  ($3,000,000),  plus (iv) the IRS Refund Loan
                           of Five Hundred Thousand Dollars ($500,000)".

                  4.3.2.   Inventory Floorplan Loan Limit.
                  Clause (ii) of Section  2.2.1.  of the Original Loan Agreement
                  is deleted and replaced with the following:

                           "(ii) the sum of (A) the outstanding Revolving Credit
                           Loans,  (B) plus the  Open  Approvals,  plus (C) Five
                           Hundred  Thousand Dollars for the IRS Refund Loan. At

                                       4
<PAGE>

                           no  time,  and  under  no  circumstances,  shall  the
                           outstanding balance of Floorplan Inventory Loans plus
                           Revolving  Credit Loans exceed  Thirty Seven  Million
                           Dollars ($37,000,000)".

                  4.3.3.   Payment Terms for Floorplan Inventory.
                  The following is added at the end of subsection (c) of Section
                  2.2.2 of the Original Loan Agreement:

                           "provided,    however,    that    payment   for   the
                           Collateralized  SAU, the Unpaid Matured Inventory and
                           the Unpaid  Curtailments  will be due and  payable by
                           Borrower in full in cash on or before  April 30, 2003
                           unless CDF and  Borrower  have  agreed  otherwise  in
                           writing  prior  thereto,  and after the  Modification
                           Date, CDF will bill Borrower by the twentieth  (20th)
                           day of each calendar  month the  principal  amount of
                           matured  inventory  and principal  curtailments,  and
                           Borrower   will  remit   payment  for  such   matured
                           inventory principal and principal curtailments by the
                           fifth (5th) day of the following calendar month".

                  4.3.4.   Eligible Used Inventory.
                  Section 2.3.1 of the Original Loan Agreement is deleted in its
                  entirety and replaced with the following:

                           "2.3.1  Eligible Used  Inventory.  On receipt of each
                           Borrowing Base Certificate,  CDF will credit Borrower
                           with  the   lesser   of  (a)  the  sum  of,   without
                           duplication,  (i) seventy  percent (70%) of the Value
                           of Borrower's  Eligible Used Inventory listed in such
                           Borrowing Base  Certificate that is owned by Borrower
                           for 365 days or less, and (ii) only for the period of
                           the Modification Date through and including April 30,
                           2003 and  solely in order to  collateralize  the SAU,
                           Unpaid  Curtailments  and Unpaid  Matured  Inventory,
                           forty  percent  (40%)  of  the  Value  of  Borrower's
                           Eligible Used Inventory listed on such Borrowing Base
                           Certificate  that is owned by Borrower  more than 365
                           days (after April 30, 2003, such percentage  shall be
                           zero   percent),   and  (b)  Three  Million   Dollars
                           ($3,000,000)      ("Eligible      Used      Inventory
                           Availability")."

                  4.3.5.   IRS Refund Loan.
                  The  following  new Section 2.4 is added to the Original  Loan
                  Agreement as follows:

                           "2.4 IRS Refund Loan.  Subject to the  conditions set
                           forth in section 2.4.1  hereof,  CDF may, in its sole
                           and absolute discretion subject to such conditions as
                           CDF may  choose to  impose  in its sole and  absolute
                           discretion,   provide   advance(s)   to  Borrower  as
                           requested  by Borrower  for general  working  capital
                           purposes (including,  without limitation,  payment of
                           any  Obligations  for  attorneys'   fees,  costs  and
                           expenses to prepare  documentation related to the IRS
                           Refund  Loan and/or the SAU) in an  aggregate  amount
                           not  to  exceed   Five   Hundred   Thousand   dollars
                           ($500,000.00).  Amounts  advanced  under this section
                           may be repaid at any time,  but in any event  must be
                           repaid by Borrower in full in cash on or before April
                           30, 2003 and shall be due and payable in full in cash
                           on such date. Amounts advanced under this section and
                           repaid will not be re-advanced to Borrower.  The loan
                           facility   described   in  this  Section  2.4.  is  a

                                       5
<PAGE>

                           discretionary  facility that CDF may terminate at any
                           time  and is not a  commitment  to  lend  or  advance
                           funds.

                           2.4.1  Conditions  Precedent for IRS Refund Loan. CDF
                           will not make any  advance  under the IRS Refund Loan
                           unless  Borrower  shall have complied with all of the
                           following:

                           (a) No Defaults (other than the Default that exist as
                           of the  Modification  Date that  resulted in the SAU,
                           the  Unpaid   Curtailments  and  the  Unpaid  Matured
                           Inventory) shall have occurred; and

                           (b)   Borrower    shall   have   provided    evidence
                           satisfactory  to CDF of the  existence,  validity and
                           amount of the refund due to Borrower  and unpaid from
                           the United States Internal Revenue Service for fiscal
                           periods  ending on or before  December 31, 2002 (`IRS
                           Refund')  and that the IRS  Refund  has not been paid
                           and is not  subject  to offset by the  United  States
                           Internal  Revenue  Service  or  other  agency  of the
                           United States Government; and

                           (c) CDF, Transamerica  Commercial Finance Corporation
                           ("TCFC" and in its capacity as agent thereunder, "Tax
                           Refund Collateral  Agent") and TMRC (collectively the
                           `IRS Refund Loan  Lenders')  shall have  executed the
                           Tax  Refund  Intercreditor   Agreement  in  form  and
                           substance satisfactory to CDF; and

                           (d) evidence  satisfactory to CDF that Borrowers have
                           executed  with TCFC (in its capacity as a lender) and
                           TMRC  loan   documents   providing  for  advances  to
                           Borrower  of  one-third  of the IRS  Refund  up to an
                           aggregate amount with CDF of One Million Five Hundred
                           Thousand Dollars ($1,500,000), together with evidence
                           satisfactory  to CDF  that  TCFC  (in its  individual
                           capacity  as a lender)  and TMRC have each  made,  or
                           will  concurrently  with  CDF  make,  an  advance  to
                           Borrower against the IRS Refund in approximately  the
                           same amount as the advance  being made by CDF against
                           the IRS Refund

                           (e)  Borrower  shall have  assigned the IRS Refund to
                           the Tax Refund  Collateral  Agent for the  benefit of
                           the IRS Refund Loan Lenders;

                           (f) Borrower  shall have  requested in writing to CDF
                           an advance  under the IRS Refund Loan  together  with
                           detailed  evidence   satisfactory  to  CDF  that  the
                           advance  will be used  for  general  working  capital
                           purposes only; and

                           (g) such other conditions as CDF may impose from time
                           to time,  including,  without  limitation,  continued
                           funding by TCFC and TMRC under their  respective loan
                           facilities to Borrower."

                  4.3.6.   Renumbering.
                  Sections 2.4 through and  including  2.15 of the Original Loan
                  Agreement are renumbered as Sections 2.5 through and including
                  2.16.

                                       6
<PAGE>

                  4.3.7.   Interest - All Loans.

                  The following sentence is added at the beginning of renumbered
                  Section 2.6 of the Original  Loan  Agreement,  after the title
                  thereof and before section 2.6.1:

                           "All interest billed by CDF to Borrower  (whether for
                  Floorplan  Inventory,  Revolving Loans,  and/or the IRS Refund
                  Loan)  will  be due  and  payable  by  Borrower  to CDF by the
                  twentieth (20th) day of the month in which billed, unless such
                  amounts  are billed  after the tenth  (10th) day of a calendar
                  month,  then  such  amounts  will be paid by  Borrower  by the
                  twentieth day of the next calendar month."

                  4.3.8.  Interest - IRS Refund  Loan.A  new  section  2.6.2B is
                  added as follows:

                           "2.6.2B Interest - IRS Refund Loan. Borrower will pay
                           interest  to CDF on the Daily  Contract  Balance  (as
                           defined  below)  monthly in arrears  beginning on the
                           Modification  Date until all IRS Refund Loan advances
                           are indefeasibly paid in full in good funds. Interest
                           on the IRS Refund Loan  advances  shall be calculated
                           on the  Average  Daily  Balance  of IRS  Refund  Loan
                           advances  at the rate  equal to the  Prime  Rate plus
                           four percent  (4.00%) per annum;  provided,  however,
                           that at no time shall interest on the IRS Refund Loan
                           advances  be  computed  on a Prime  Rate of less than
                           Four and Seventy-five One Hundredths  percent (4.75%)
                           per annum."

                  4.3.9. Definitions of Daily Contract balance and Average Daily
                  Balance.   The  definition  of  "Daily  Contract  Balance"  in
                  renumbered  Section  2.6.5.  of the Original Loan Agreement is
                  amended to add each time after the  phrase  "Revolving  Credit
                  Loans" is contained in such  definition the phrase "IRS Refund
                  Loan".  The definition of "Daily Contract  Balance" in Section
                  renumbered 2.6.5. of the Original Loan Agreement is amended to
                  add after the phrase  "Revolving Credit Loans" is contained in
                  such definition the phrase "IRS Refund Loan".

                  4.3.8  Security Interest.

                  The  following  is added to section 5.1 of the  Original  Loan
                  Agreement after the words "general intangibles":

                           "(including,  without limitation, all rights to apply
                           for,   claim  and   receive   all  tax   refunds  and
                           overpayments  from any  department  or  agency of the
                           United   States   government,    including,   without
                           limitation, the Internal Revenue Service)".

                  4.3.9  Covenants.

                           4.3.9.1  Business Locations.

                           The  title  of  section  8.1.6 of the  Original  Loan
                           Agreement  is amended to read  "Business  Locations."
                           Additionally,  the  following  is added at the end of
                           section 8.1.6 as a new sentence therein:

                                    "Additionally, Borrower will (i) provide CDF
                                    with a list of locations,  identifying which
                                    locations are owned and which  locations are

                                       7
<PAGE>

                                    leased,  and  including the name and address
                                    of the  landlord of each leased  location by
                                    January 2, 2003,  and (ii) obtain waivers or
                                    subordinations    of   the   statutory   and
                                    contractual  liens  against  the  assets  of
                                    Borrowers  at leased  locations by landlords
                                    to each Borrower by January 31, 2003."

                           4.3.9.2  Taxes.

                           The  title  of  section  8.1.7 of the  Original  Loan
                           Agreement is amended to read  "Taxes".  Additionally,
                           The following is added after the period at the end of
                           section 8.1.7:

                                    "Borrower,   will,   and  will   cause  each
                                    Subsidiary to,  immediately:  (i) notify CDF
                                    in  writing  upon  the  receipt  of any  tax
                                    refund or  overpayment  (including,  without
                                    limitation,  the IRS  Refund),  and (ii) pay
                                    over all such tax refunds  and  overpayments
                                    to CDF or to TCFC as  Collateral  Agent  for
                                    the benefit of CDF, TCFC and TMRC. Borrowers
                                    agrees  that if any  tax  claim  or  refund,
                                    including any portion of the IRS Refund,  is
                                    paid to  Borrowers  at any time or from time
                                    to time, Borrowers will receive and hold the
                                    same in trust  for CDF until  such  received
                                    tax claim or refund,  including  any portion
                                    of the IRS Refund, is delivered to CDF or to
                                    TCFC as  Collateral  Agent in the  identical
                                    form of payment received by the Borrowers."

                           4.3.9.3  Reporting Requirements.

                           A new  subsection  (j) is added to section  8.1.10 of
                           the Original Loan Agreement as follows:

                                    "(j) by Tuesday  of each week,  a report for
                                    the prior  week  detailing  the  amount  and
                                    payee (other than CDF) of each  disbursement
                                    of  each  Borrower  in  excess  of  $10,000,
                                    whether  the  disbursement  is made by cash,
                                    company  check,  wire  transfer or Automated
                                    Clearing House."

                           A new  subsection  (k) is added to section  8.1.10 of
                           the Original Loan Agreement as follows:

                                    "(k) by Monday,  January 13, 2003,  and each
                                    Monday  thereafter,  a report of  Borrowers'
                                    (i) actual cash inflows and outflows for all
                                    weeks since  December  20, 2002  through the
                                    Friday immediately preceding the date of the
                                    report,  and (ii) projected cash inflows and
                                    outflows  for the  13-weeks on and after the
                                    date of the  report,  with  such  supporting
                                    details as required by CDF."

                  4.3.10  Financial Covenants.

                  All  references in Section 9 of the Original Loan Agreement to
                  "Borrower" or  "Borrowers"  are amended to read  "Borrower and
                  its Affiliates".

                                       8
<PAGE>

                  The following is added into section 9.1.1 after clause (c) and
                  before the word "and":

                           "and (d)  December  31,  2002 of not less than Twenty
                           Million  Dollars  ($20,000,000),  and (e) January 31,
                           2003,  February  28,  2003 and March 31,  2003 of not
                           less than Nineteen Million Dollars ($19,000,000), and
                           April  30,  2003  of not  less  than  Twenty  Million
                           Dollars ($20,000,000); and".

                  The  definition  of "Tangible Net Worth" in section 9.2 of the
                  Original  Loan  Documents  is  deleted  in  its  entirety  and
                  restated to read as follows:

                           "Tangible  Net  Worth"  shall mean as of any date the
                           sum of the  Borrowers'  and its  Affiliates'  (i) net
                           worth  as   reflected   on  its   last   twelve-month
                           consolidated fiscal financial  statements,  plus (ii)
                           net earnings since the end of such fiscal year,  both
                           after   provision   for  taxes  and  with   Inventory
                           determined  on a first in, first out basis plus (iii)
                           Subordinated Debt, and plus (iv) unamortized  income,
                           less the sum of the  Borrowers' and  affiliates'  (a)
                           Intangibles,     including,    without    limitation,
                           unamortized   leasehold    improvements,    goodwill,
                           franchises,    licenses,    patents,   trade   names,
                           copyrights, service marks, brand names, covenants not
                           to compete and any other asset which would be treated
                           as an intangible under generally accepted  accounting
                           principles;  (b) prepaid expenses  (however such item
                           shall not include prepaid  inventory);  (c) franchise
                           fees;  (d)  notes,   Accounts  Receivable  and  other
                           amounts  owed to it by any  guarantor,  Affiliate  or
                           employee of any Travis  Entity;  (e) losses since the
                           end of such  fiscal  year;  (f)  interest in the cash
                           surrender  value of officer's or  shareholder's  life
                           insurance  policies;  (g) income not earned as of the
                           date of any such  calculation;  and (h)  deferred tax
                           benefits, whether short-term or long-term."

         4.4. Defaults.

                  4.4.1 Failure to Pay Other Amounts to CDF.

                  The  last  clause  of  section  11.1.2  of the  Original  Loan
                  Agreement after the  parenthetical  therein is amended to read
                  as follows:

                           "when due and payable hereunder".

                  4.4.2  Failure to Pay Certain Costs and Expenses.

                  The  last  clause  of  section  11.1.3  of the  Original  Loan
                  Agreement is amended to read as follows:

                           "when due and payable hereunder".

                  4.4.3  Failure to Pay Amounts to Other Persons.
                  The  following is added into Section  11.1.4  (Failures to Pay
                  Amounts to Other Persons) of the Original Loan Agreement after
                  the phrase "owed to any third party," :

                                       9
<PAGE>

                           "or  any  amount  owed  to  Transamerica   Commercial
                           Finance Corporation or TMRC, L.L.P.,'.

                  The following is added at the end of section  11.1.9  (Default
                  Under Other Agreements):

                           "or (c) any  default  or event of  default  under the
                           Credit and Security Agreement executed by and between
                           Travis  Boats and Motors,  Inc.  and TMRC on or about
                           the  Modification  Date, or any related  documents or
                           (d) any breach by any lender of Borrower  (other than
                           CDF) of the any  intercreditor  agreement between CDF
                           and any other lender of Borrower".

                  4.4.4  Certain Covenants With a Curing Period.
                  The  parenthetical  in  section  11.1.7 is  amended to read as
                  follows:

                           "(Other than Covenants in Sections 8.1.1,  8.1.5 with
                  respect to secured  loans but not unsecured  accounts  payable
                  obligations, 8.1.6, 8.1.7 and 9)".

         4.5      Termination.

         Subpart (a) of section 3.1 is deleted in its  entirety  and restated as
         follows:

                  "if  Borrower  is not in  default  hereunder,  30  days  prior
                  written notice of termination is reasonable and sufficient".

5.  Representations and Warranties of Borrower.  Each Borrower hereby represents
and warrants to Lender that (i) such Borrower's  execution of this Agreement has
been duly authorized by all requisite action of such Borrower,  (ii) no consents
are necessary from any third parties for such Borrower's execution,  delivery or
performance of this  Agreement,  (iii) this Agreement,  the Loan Agreement,  and
each of the other  Loan  Documents,  constitute  the  legal,  valid and  binding
obligations of Borrower  enforceable  against  Borrower in accordance with their
terms, except to the extent that the enforceability thereof against Borrower may
be limited by bankruptcy,  insolvency or other laws affecting the enforceability
of creditors  rights generally or by equity  principles of general  application,
(iv)  except as  disclosed  on the  disclosure  schedules  attached  to the Loan
Agreement  (Exhibits  7.3,  7.5,  7.7,  7.9,  7.11,  7.17 and 7.18),  all of the
representations  and  warranties  contained in the Loan  Agreement  are true and
correct  with the same force and effect as if made on and as of the date of this
Agreement,  (v) after giving effect to this Agreement,  there is no Default that
has occurred and is  continuing  which has not been waived in writing by Lender;
and (vi) the IRS Refund is a legitimate  claim under the  Internal  Revenue Code
based on Borrowers  net income or losses as of or prior to December 31, 2002 and
has been reviewed and has not been disputed by Borrower's  independent certified
public accountants.

6.  Reaffirmation.  Each Borrower hereby  acknowledges and confirms that (i) the
Loan  Agreement  and the other Loan  Documents  remain in full force and effect,
(ii) such Borrower has no defenses to its  obligations  under the Loan Agreement
and the other Loan  Documents,  (iii) the Liens of the Lender  granted under the
Loan  Agreement  secure  all the  Obligations,  and  continue  in full force and
effect,  and have the same  priority  as before  this  Agreement,  and (iv) such
Borrower has no claim against Lender arising from or in connection with the Loan

                                       10
<PAGE>

Agreement or the other Loan Documents.  Each Borrower  covenants and agrees that
the  amendments  contained  herein  amending all references in the Original Loan
Agreement and the Loan Documents from "Deutsche  Financial Services  Corporation
to "GE Commercial  Distribution Finance Corporation,  formerly known as Deutsche
Financial  Services  Corporation,"  and amending all  references in the Original
Loan  Agreement  and the Loan  Documents  from  "DFS" to "CDF" do not impact the
validity  and  enforceability  of  the  Original  Loan  Agreement  or  the  Loan
Documents, or the liens and security interests granted thereunder.

7.  Governing  Law.  This  Agreement  has been  executed and  delivered in Troy,
Michigan,  and shall be governed by and construed under the laws of the State of
Michigan  without  giving  effect  to  choice  or  conflicts  of law  principles
thereunder.

8. Section  Titles.  The section titles in this Agreement are for convenience of
reference only and shall not be construed so as to modify any provisions of this
Agreement.

9. Counterparts;  Facsimile Transmissions. This Agreement may be executed in one
or more counterparts and on separate counterparts, each of which shall be deemed
an  original,  but all of  which  together  shall  constitute  one and the  same
instrument.  Signatures  to this  Agreement  may be given by  facsimile or other
electronic transmission, and such signatures shall be fully binding on the party
sending the same.

10. Fees and Expenses.  Borrower shall promptly pay to Lender all fees, expenses
and other  amounts  owing to Lender under the Loan  Agreement and the other Loan
Documents  upon  demand,  including,  without  limitation,  all fees,  costs and
expenses  incurred by Lender in connection  with the  preparation,  negotiation,
execution, and delivery of this Agreement.

11. Incorporation By Reference. Lender and Borrower hereby agree that all of the
terms  of the  Loan  Documents  are  incorporated  in and  made a part  of  this
Agreement by this reference.

12. Notice--Oral Commitments Not Enforceable.
The  following  notice is given  pursuant  to Section  432.045  of the  Missouri
Revised  Statutes;  nothing contained in such notice shall be deemed to limit or
modify the terms of the Loan Documents:

         ORAL  AGREEMENTS  OR  COMMITMENTS  TO LOAN MONEY,  EXTEND  CREDIT OR TO
         FORBEAR FROM ENFORCING REPAYMENT OF A DEBT INCLUDING PROMISES TO EXTEND
         OR RENEW SUCH DEBT ARE NOT  ENFORCEABLE.  TO PROTECT YOU (BORROWER) AND
         US (CREDITOR) FROM  MISUNDERSTANDING OR DISAPPOINTMENT,  ANY AGREEMENTS
         WE REACH COVERING SUCH MATTERS ARE CONTAINED IN THIS WRITING,  WHICH IS
         THE  COMPLETE AND  EXCLUSIVE  STATEMENT  OF THE  AGREEMENT  BETWEEN US,
         EXCEPT AS WE MAY LATER AGREE IN WRITING TO MODIFY IT.

13. Notice--Insurance.
  UNLESS  YOU  PROVIDE  EVIDENCE  OF THE  INSURANCE  COVERAGE  REQUIRED  BY YOUR
  AGREEMENT  WITH US, WE MAY  PURCHASE  INSURANCE AT YOUR EXPENSE TO PROTECT OUR
  INTERESTS IN YOUR  COLLATERAL.  THIS INSURANCE MAY, BUT NEED NOT, PROTECT YOUR
  INTERESTS.  THE COVERAGE  THAT WE PURCHASE MAY NOT PAY ANY CLAIM THAT YOU MAKE

                                       11
<PAGE>

  OR ANY CLAIM THAT IS MADE AGAINST YOU IN CONNECTION WITH THE  COLLATERAL.  YOU
  MAY LATER  CANCEL ANY  INSURANCE  PURCHASED  BY US,  BUT ONLY AFTER  PROVIDING
  EVIDENCE THAT YOU HAVE OBTAINED INSURANCE AS REQUIRED BY OUR AGREEMENT.  IF WE
  PURCHASE  INSURANCE FOR THE COLLATERAL,  YOU WILL BE RESPONSIBLE FOR THE COSTS
  OF THAT  INSURANCE,  INCLUDING THE INSURANCE  PREMIUM,  INTEREST AND ANY OTHER
  CHARGES WE MAY IMPOSE IN CONNECTION WITH THE PLACEMENT OF THE INSURANCE, UNTIL
  THE EFFECTIVE DATE OF THE  CANCELLATION  OR EXPIRATION OF THE  INSURANCE.  THE
  COSTS OF THE  INSURANCE  MAY BE ADDED TO YOUR  TOTAL  OUTSTANDING  BALANCE  OR
  OBLIGATION.  THE COSTS OF THE INSURANCE MAY BE MORE THAN THE COST OF INSURANCE
  YOU MAY BE ABLE TO OBTAIN ON YOUR OWN.

  14.    RELEASE.

  EACH  OF THE  BORROWERS  HEREBY  RELEASE,  EXCEPT  IN THE  INSTANCE  OF  GROSS
  NEGLIGENCE AND WILFUL MISCONDUCT, CDF AND ITS OFFICERS, DIRECTORS,  EMPLOYEES,
  AGENTS,  ATTORNEYS,  SUCCESSORS,  PREDECESSORS  AND ASSIGNS FROM ALL MANNER OF
  ACTIONS,  CLAIMS,  DEMANDS,  LIABILITIES,  CAUSE AND CAUSES OF ACTION,  SUITS,
  DAMAGES,  JUDGMENTS,  EXECUTIONS,   WHATSOEVER,  IN  LAW  OR  IN  EQUITY,  AND
  PARTICULARLY,  WITHOUT LIMITING THE GENERALITY OF THE FOREGOING, IN CONNECTION
  WITH THE  ORIGINAL  LOAN  AGREEMENT  AND LOAN  DOCUMENTS  AND ANY  AGREEMENTS,
  DOCUMENTS AND INSTRUMENTS  RELATING THERETO AND THE ADMINISTRATION OF THE LOAN
  DOCUMENTS,  ALL  INDEBTEDNESS,  OBLIGATIONS  AND  LIABILITIES  OF  ANY  OF THE
  BORROWERS TO CDF AND ANY AGREEMENTS, DOCUMENTS AND INSTRUMENTS RELATING TO THE
  DOCUMENTS  (COLLECTIVELY,  THE "CLAIMS"),  WHICH ANY OF THE BORROWERS NOW HAVE
  AGAINST  CDF OR EVER  HAD,  OR  WHICH  MIGHT  BE  ASSERTED  BY  THEIR  AGENTS,
  SUCCESSORS, OR ASSIGNS BASED ON ANY CLAIMS WHICH EXIST ON OR AT ANY TIME PRIOR
  TO THE DATE OF THIS AMENDMENT. EACH BORROWER EXPRESSLY ACKNOWLEDGES AND AGREES
  THAT EACH  BORROWER HAS HAVE BEEN ADVISED BY COUNSEL IN  CONNECTION  WITH THIS
  AMENDMENT AND THAT EACH BORROWER UNDERSTANDS THAT THIS PARAGRAPH CONSTITUTES A
  GENERAL RELEASE OF CDF AND THAT THEY EACH INTEND TO BE FULLY AND LEGALLY BOUND
  BY THE SAME. EACH BORROWER FURTHER EXPRESSLY ACKNOWLEDGES AND AGREES THAT THIS
  GENERAL  RELEASE  SHALL  HAVE  FULL  FORCE  AND  EFFECT   NOTWITHSTANDING  THE
  OCCURRENCE  OF A DEFAULT OR EVENT OF DEFAULT  (HOWEVER SUCH TERMS ARE DEFINED)
  PURSUANT TO ANY OF THE LOAN DOCUMENTS.

          {remainder of page intentionally left blank; signature pages
                              immediately follows}

                                       12
<PAGE>

         IN WITNESS  WHEREOF,  this  Agreement  has been duly executed as of the
date first above written.

TRAVIS BOATS & MOTORS, INC., as a Borrower

By:
   -----------------------------------------------------------
Name:
     ---------------------------------------------------------
Title:
      --------------------------------------------------------

TBC ARKANSAS, INC., as a Borrower

By:
   -----------------------------------------------------------
Name:
     ---------------------------------------------------------
Title:
      --------------------------------------------------------

TRAVIS BOATING CENTER ARLINGTON, INC., as a Borrower

By:
   -----------------------------------------------------------
Name:
     ---------------------------------------------------------
Title:
      --------------------------------------------------------

TRAVIS BOATING CENTER BEAUMONT, INC., as a Borrower

By:
   -----------------------------------------------------------
Name:
     ---------------------------------------------------------
Title:
      --------------------------------------------------------

TRAVIS BOATING CENTER OKLAHOMA, INC., as a Borrower

By:
   -----------------------------------------------------------
Name:
     ---------------------------------------------------------
Title:
      --------------------------------------------------------

TRAVIS BOATING CENTER TENNESSEE, INC., as a Borrower

By:
   -----------------------------------------------------------
Name:
     ---------------------------------------------------------
Title:
      --------------------------------------------------------

                                       13
<PAGE>

<PAGE>

TRAVIS SNOWDEN MARINE, INC., as a Borrower

By:
   -----------------------------------------------------------
Name:
     ---------------------------------------------------------
Title:
      --------------------------------------------------------

FALCON MARINE, INC., as a Borrower

By:
   -----------------------------------------------------------
Name:
     ---------------------------------------------------------
Title:
      --------------------------------------------------------

FALCON MARINE ABILENE, INC., as a Borrower

By:
   -----------------------------------------------------------
Name:
     ---------------------------------------------------------
Title:
      --------------------------------------------------------

TRAVIS BOATING CENTER ALABAMA, INC., as a Borrower

By:
   -----------------------------------------------------------
Name:
     ---------------------------------------------------------
Title:
      --------------------------------------------------------

TRAVIS BOATING CENTER LOUISIANA, INC., as a Borrower

By:
   -----------------------------------------------------------
Name:
     ---------------------------------------------------------
Title:
      --------------------------------------------------------

TRAVIS BOATS & MOTORS BATON ROUGE, INC., as a Borrower

By:
   -----------------------------------------------------------
Name:
     ---------------------------------------------------------
Title:
      --------------------------------------------------------

TRAVIS BOATING CENTER  MISSISSIPPI, INC., as a Borrower

By:
   -----------------------------------------------------------
Name:
     ---------------------------------------------------------
Title:
      --------------------------------------------------------

                                       14
<PAGE>

TRAVIS BOATING CENTER LITTLE ROCK, INC., as a Borrower

By:
   -----------------------------------------------------------
Name:
     ---------------------------------------------------------
Title:
      --------------------------------------------------------

RED RIVER MARINE ARKANSAS, INC., as a Borrower

By:
   -----------------------------------------------------------
Name:
     ---------------------------------------------------------
Title:
      --------------------------------------------------------

SHELBY MARINE CENTER, INC., as a Borrower

By:
   -----------------------------------------------------------
Name:
     ---------------------------------------------------------
Title:
      --------------------------------------------------------

SHELBY MARINE PICKWICK, LLC, as a Borrower

By:
   -----------------------------------------------------------
Name:
     ---------------------------------------------------------
Title:
      --------------------------------------------------------

GE COMMERCIAL DISTRIBUTION FINANCE CORPORATION
formerly  known as Deutsche Financial Services Corporation, as Lender

By:
   -----------------------------------------------------------
Name:
     ---------------------------------------------------------
Title:
      --------------------------------------------------------

                                       15
<PAGE>

                                    Exhibit A

                           Documents and Requirements

1.     Amendment regarding Amended and Restated Loan and Security Agreement.

2.     Revised and updated complete Disclosure Schedule (Exhibits 7.3, 7.5, 7.7,
       7.9,  7.11,  7.17 and 7.18) to the Amended and Restated Loan and Security
       Agreement, as required.

3.     Execution of an  Intercreditor  Agreement  by and between  CDF,  TCFC and
       TMRC, in form and substance satisfactory to CDF.

4.     Execution of amendments to the existing TCFC loan  documents  waiving all
       existing defaults and adding an additional  $__________  facility similar
       to the IRS Refund Loan.

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00046-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00046-of-00352.parquet"}]]