Document:

EXHIBIT 10.35

                                ENDORSEMENT NO. 5
                               TO PROMISSORY NOTE
                               ------------------

         ENDORSEMENT NO. 5, dated as of March 16, 2006 to the Promissory Note,
dated May 3, 2002, as amended from time to time (the "Note") by LEVCOR
INTERNATIONAL, INC., A New York corporation (the "Borrower") in favor of
JPMORGAN CHASE BANK, N.A., formerly known as JPMorgan Chase Bank, a banking
corporation organized under the laws of the United States of America (the
"Bank").

         WHEREAS, the Borrower has executed and delivered to the Bank the Note;
and

         WHEREAS, the Borrower and the Bank desire to amend the Note on the
terms and conditions set forth herein to change the maturity date of the Note to
April 30, 2007;

         NOW, THEREFORE, in consideration of the premises contained herein and
for other good and valuable consideration, the receipt of which is hereby
acknowledged, the parties hereto agree as follows:

         1.       The date "December 31, 2006" which appears in first line
                  thereof is hereby deleted and the date "April 30, 2007" is
                  substituted in its place.

         2.       Except as otherwise expressly provided herein, the terms and
                  conditions of the Note shall continue in full force and
                  effect.

         3.       This Endorsement No. 5 shall be governed by and construed in
                  accordance with New York law.

         IN WITNESS WHEREOF, the parties hereto have caused this Endorsement No.
5 to be duly executed and delivered by their proper and duly authorized officers
as of the day and year first above written.

                                       LEVCOR INTERNATIONAL, INC.

                                       By: /s/ ROBERT A. LEVINSON
                                           -------------------------------------
                                           Name:  Robert A. Levinson
                                           Title: Chairman of the Board,
                                                  President and Chief Executive
                                                  Officer

                                       JPMORGAN CHASE BANK, N.A.

                                       By: /s/ SALVATORE G. CANTARELLA,
                                           -------------------------------------
                                           Salvatore G. Cantarella, V.P.EXHIBIT 10.36

                           ACKNOWLEDGMENT AND CONSENT
                           --------------------------

         The undersigned hereby consents to the execution and delivery by LEVCOR
INTERNATIONAL, INC. ("Levcor") of Endorsement No. 5. dated March 16, 2006 (the
"Endorsement") to the Promissory Note, dated May 3, 2002 made by Levcor to
JPMORGAN CHASE BANK, N.A., formerly known as JPMorgan Chase Bank (the "Bank") in
the principal amount of $3,000,000, as amended from time to time (the "Note")
and acknowledges and agrees that the execution and delivery by Levcor of the
Endorsement to the Note shall have no effect upon (a) the undersigned's
Guaranty, dated April 30, 2002 (the "Guaranty") of Levcor's obligations to the
Bank pursuant to the Note, (b) the undersigned's Pledge Agreement, dated January
24, 2003 (the "Pledge Agreement") granting to the Bank a security interest in a
certain collateral securities account maintained at LEHMAN BROTHERS INC. ("LBI")
and (c) the Pledged Collateral Account Control Agreement, dated as of April 29,
2002 (the "Control Agreement"), executed by the undersigned, LBI and the Bank,
each of which shall remain in full force and effect. Undersigned further
confirms that no Default or Event of Default has occurred or is continuing
pursuant to the terms of the Note, the Guaranty or the Control Agreement.

                                       /s/ ROBERT A. LEVINSON
                                       -----------------------------------------
                                       Robert A. LevinsonExhibit 10.30

                        ADDENDUM TO EMPLOYMENT AGREEMENT
--------------------------------------------------------------------------------

        This Addendum to Employment Agreement (hereinafter "AGREEMENT") is made
by and between John C. Kleinert, 48 South Franklin Turnpike, Ramsey, NJ 07446
(hereinafter "EMPLOYEE"), and Velocity Asset Management, Inc. on behalf of
itself, its subsidiaries, affiliates, predecessors, successors, assigns; and
their directors, officers, employees and agents (hereinafter collectively
referred to as "VAMI"), with its principal place of business, 3100 Route 138
West, STE A, Wall, NJ 07719.

        WHEREAS, VAMI and EMPLOYEE entered into an Employment Agreement, dated
as of January 1, 2004 (the "Initial Employment Agreement") and

        WHEREAS, VAMI and EMPLOYEE have entered into an Addendum to the
Employment Agreement, dated as of September 1, 2004 (the "Addendum No. 1 to the
Employment Agreement", together with the Initial Employment Agreement, the
"Employment Agreement") and

        WHEREAS, VAMI and the EMPLOYEE desire to amend certain provisions of the
Employment Agreement,

        NOW THEREFORE, for and in consideration of the mutual and respective
covenants and agreements contained herein, VAMI and EMPLOYEE agree as follows:

1.    Article "1" of the Employment Agreement, is hereby deleted and the
following is substituted in its place and stead:

                                    ARTICLE 1

                                   EMPLOYMENT

1.1   VAMI shall employ EMPLOYEE in the position of President for a period of
four (4) years commencing on January 1, 2004 and continuing until terminated as
provided in Article 4 of this AGREEMENT.

2.    Except as provided above, the Employment Agreement shall remain in full
force and effect.

IN WITNESS WHREOF, the parties have executed this ADDENDUM as of the date first
above written.

VELOCITY ASSET MANAGEMENT, INC.                EMPLOYEE

By: /s/ JAMES J. MASTRIANI                     /s/ JOHN C. KLEINERT
-----------------------------------            ---------------------------------
James J. Mastriani, Esq.                       JOHN C. KLEINERT
CFO & CLO
Dated:  January 1, 2006                        Dated:   January 1, 2006Exhibit 10.31

                        ADDENDUM TO EMPLOYMENT AGREEMENT
--------------------------------------------------------------------------------

        This Addendum to Employment Agreement (hereinafter "AGREEMENT") is made
by and between W. Peter Ragan, Jr., c/o Ragan & Ragan, P.C., 3100 Route 138
West, Wall, NJ 07719 (hereinafter "EMPLOYEE"), and VELOCITY INVESTMENTS, LLC on
behalf of itself, its subsidiaries, affiliates, predecessors, successors,
assigns; and their directors, officers, employees and agents (hereinafter
collectively referred to as "VIM"), with its principal place of business, 3100
Route 138 West, STE A, Wall, NJ 07719.

        WHEREAS, VIM and EMPLOYEE entered into an Employment Agreement, dated as
of January 1, 2004 (the "Initial Employment Agreement") and

        WHEREAS, VIM and EMPLOYEE have entered into an Addendum to the
Employment Agreement, dated as of September 1, 2004 (the "Addendum No. 1 to the
Employment Agreement", together with the Initial Employment Agreement, the
"Employment Agreement") and

        WHEREAS, VIM and the EMPLOYEE desire to amend certain provisions of the
Employment Agreement,

        NOW THEREFORE, for and in consideration of the mutual and respective
covenants and agreements contained herein, VIM and EMPLOYEE agree as follows:

1.    Article "1" of the Employment Agreement, is hereby deleted and the
following is substituted in its place and stead:

                                    ARTICLE 1

                                   EMPLOYMENT

1.1   VIM shall employ EMPLOYEE in the position of President for a period of
four (4) years commencing on January 1, 2004 and continuing until terminated as
provided in Article 4 of this AGREEMENT.

2.    Except as provided above, the Employment Agreement shall remain in full
force and effect.

IN WITNESS WHREOF, the parties have executed this ADDENDUM as of the date first
above written.

VELOCITY INVESTMENTS, LLC                     EMPLOYEE;

By: /s/ JAMES J. MASTRIANI                    /s/ W.PETER RAGAN, JR.
-----------------------------------           ---------------------------------
JAMES J. MASTRIANI                            W.PETER RAGAN, ESQ.
CFO & CLO
Dated:  January 1, 2006                       Dated:  January 1, 2006Exhibit 10.32

                        ADDENDUM TO EMPLOYMENT AGREEMENT
--------------------------------------------------------------------------------

        This Addendum to Employment Agreement (hereinafter "AGREEMENT") is made
by and between W. Peter Ragan, Sr., c/o Ragan & Ragan, P.C., 3100 Route 138
West, Wall, NJ 07719 (hereinafter "EMPLOYEE"), and VOM, LLC on behalf of itself,
its subsidiaries, affiliates, predecessors, successors, assigns; and their
directors, officers, employees and agents (hereinafter collectively referred to
as "VOM"), with its principal place of business, 3100 Route 138 West, STE A,
Wall, NJ 07719.

        WHEREAS, VOM and EMPLOYEE entered into an Employment Agreement, dated as
of January 1, 2004 (the "Initial Employment Agreement") and

        WHEREAS, VOM and EMPLOYEE have entered into an Addendum to the
Employment Agreement, dated as of September 1, 2004 (the "Addendum No. 1 to the
Employment Agreement", together with the Initial Employment Agreement, the
"Employment Agreement") and

        WHEREAS, VOM and the EMPLOYEE desire to amend certain provisions of the
Employment Agreement,

        NOW THEREFORE, for and in consideration of the mutual and respective
covenants and agreements contained herein, VOM and EMPLOYEE agree as follows:

1.    Article "1" of the Employment Agreement, is hereby deleted and the
following is substituted in its place and stead:

                                    ARTICLE 1

                                   EMPLOYMENT

1.1   VOM shall employ EMPLOYEE in the position of President for a period of
four (4) years commencing on January 1, 2004 and continuing until terminated as
provided in Article 4 of this AGREEMENT.

2.    Except as provided above, the Employment Agreement shall remain in full
force and effect.

IN WITNESS WHREOF, the parties have executed this ADDENDUM as of the date first
above written.

VOM, LLC                                      EMPLOYEE;

By: /s/ JAMES J. MASTRIANI                    /s/ W.PETER RAGAN, SR.
-----------------------------------           ---------------------------------
JAMES J. MASTRIANI                            W.PETER RAGAN, ESQ.
CFO & CLO
Dated:  January 1, 2006                       Dated:   January 1, 2006

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