Document:

ex10_32.htm

    
      

    

    Exhibit
10.32

     

    ASSIGNMENT
OF DEPOSIT ACCOUNT

     

      
        

      

    

     

    
      	
              PRINCIPAL

            	
              LOAN
      DATE

            	
              MATURITY

            	
              LOAN
      NO 

            	
              CALL /COLL
      

            	
              ACCOUNT

            	
              OFFICER
      INITIALS

            
	
              $800,000.00

            	
              04-25-2008

            	
              04-25-2009

            	
              R-13166891

            	
              422

            	 	
              086

            

    

     

    
      
        

      

    

    References
in the boxes above are for Lender's use only and do not limit the applicability
of this document to any particular loan or item. Any item above containing "- -
- " has been omitted due to text length limitations. 

    
      

    

     

    
      
        	
                GRANTOR:

              	
                AMERICAN
      CONSUMERS, INC. DBA SHOP RITE

              	
                LENDER:

              	
                GATEWAY
      BANK & TRUST

              
	 
      	
                55
      HANNAH WAY

              	 
      	
                MAIN

              
	 
      	
                ROSSVILLE,
      GA 30741

              	 
      	
                5102
      ALABAMA HWY

              
	 
      	 
      	 
      	
                RINGGOLD,
      GA 30736

              
	 
      	 
      	 
      	
                (706)
      965-5500

              

      

       

      
        
          

        

      

       

    

    THIS
ASSIGNMENT OF DEPOSIT ACCOUNT dated April 25, 2008, is made and executed between
AMERICAN CONSUMERS, INC. DBA SHOP RITE ("Grantor") and GATEWAY BANK & TRUST
("Lender").

    

    ASSIGNMENT.
For valuable consideration, Grantor assigns and grants to Lender a security
interest in the Collateral, including without limitation the deposit accounts
described below, to secure the Indebtedness and agrees that Lender shall have
the rights stated in this Agreement with respect to the Collateral, in addition
to all other rights which Lender may have by law.

    

    COLLATERAL
DESCRIPTION. The word "Collateral" means the following described deposit account
("Account"):

    

    CD
Account Number 22021108 with Lender with an approximate balance of
$300,000.00

    

    together
with (A) all interest, whether now accrued or hereafter accruing; (B) all
additional deposits hereafter made to the Account; (C) any and all proceeds from
the Account; and (D) all renewals, replacements and substitutions for any of the
foregoing.

    

    CROSS-COLLATERALIZATION.
In addition to the Note, this Agreement secures all obligations, debts and
liabilities, plus interest thereon, of Grantor to Lender, or any one or more of
them, as well as all claims by Lender against Grantor or any one or more of
them, whether now existing or hereafter arising, whether related or unrelated to
the purpose of the Note, whether voluntary or otherwise, whether due or not due,
direct or indirect, determined or undetermined, absolute or contingent,
liquidated or unliquidated, whether Grantor may be liable individually or
jointly with others, whether obligated as guarantor, surety, accommodation party
or otherwise, and whether recovery upon such amounts may be or hereafter may
become barred by any statute of limitations, and whether the obligation to repay
such amounts may be or hereafter may become otherwise
unenforceable.

    

    RIGHT OF
SETOFF. To the extent permitted by applicable law, Lender reserves a right of
setoff in all Grantor's accounts with Lender (whether checking, savings, or some
other account). This includes all accounts Grantor holds jointly with someone
else and all accounts Grantor may open in the future. However, this does not
include any IRA or Keogh accounts, or any trust accounts for which setoff would
be prohibited by law. Grantor authorizes Lender, to the extent permitted by
applicable law, to charge or setoff all sums owing on the Indebtedness against
any and all such accounts, and, at Lender's option, to administratively freeze
all such accounts to allow Lender to protect Lender's charge and setoff rights
provided in this paragraph.

    

    GRANTOR'S
REPRESENTATIONS AND WARRANTIES WITH RESPECT TO THE COLLATERAL. With respect to
the Collateral, Grantor represents and promises to Lender that:

    
      

        
          
             

          

          
             

            
              

            

          

          
             

          

        

      

      

      ASSIGNMENT
OF DEPOSIT ACCOUNT

      (Continued)

      

      Loan No:
R-13166891

      
        

      

       

    

    Ownership.
Grantor is the lawful owner of the Collateral free and clear of all loans,
liens, encumbrances, and claims except as disclosed to and accepted by Lender in
writing.

     

    Right to
Grant Security Interest. Grantor has the full right, power, and authority to
enter into this Agreement and to assign the Collateral to Lender.

    

    No Prior
Assignment. Grantor has not previously granted a security interest in the
Collateral to any other creditor.

    

    No
Further Transfer. Grantor shall not sell, assign, encumber, or otherwise dispose
of any of Grantor's rights in the Collateral except as provided in this
Agreement.

    

    No
Defaults. There are no defaults relating to the Collateral, and there are no
offsets or counterclaims to the same. Grantor will strictly and promptly do
everything required of Grantor under the terms, conditions, promises, and
agreements contained in or relating to the Collateral.

    

    Proceeds.
Any and all replacement or renewal certificates, instruments, or other benefits
or proceeds related to the Collateral that are received by Grantor shall be held
by Grantor in trust for Lender and immediately shall be delivered by Grantor to
Lender to be held as part of the Collateral.

    

    Validity;
Binding Effect. This Agreement is binding upon Grantor and Grantor's successors
and assigns and is legally enforceable in accordance with its
terms.

    

    Financing
Statements. Grantor authorizes Lender to file a UCC financing statement, or
alternatively, a copy of this Agreement to perfect Lender's security interest.
At Lender's request, Grantor additionally agrees to sign all other documents
that are necessary to perfect, protect, and continue Lender's security interest
in the Property.  Grantor will pay all filing fees, title transfer fees,
and other fees and costs involved unless prohibited by law or unless Lender is
required by law to pay such fees and costs. Grantor irrevocably appoints Lender
to execute documents necessary to transfer title if there is a default. Lender
may file a copy of this Agreement as a financing statement. If Grantor changes
Grantor's name or address, or the name or address of any person granting a
security interest under this Agreement changes, Grantor will promptly notify the
Lender of such change.

    

    LENDER'S
RIGHTS AND OBLIGATIONS WITH RESPECT TO THE COLLATERAL. While this Agreement is
in effect, Lender may retain the rights to possession of the Collateral,
together with any and all evidence of the Collateral, such as certificates or
passbooks. This Agreement will remain in effect until(a) there no longer is any
Indebtedness owing to Lender; (b) all other obligations secured by this
Agreement have been fulfilled; and (c) Grantor, in writing, has requested from
Lender a release of this Agreement.

    

    LENDER'S
EXPENDITURES. If any action or proceeding is commenced that would materially
affect Lender's interest in the Collateral or if Grantor fails to comply with
any provision of this Agreement or any Related Documents, including but not
limited to Grantor's failure to discharge or pay when due any amounts Grantor is
required to discharge or pay under this Agreement or any Related Documents,
Lender on Grantor's behalf may (but shall not be obligated to) take any action
that Lender deems appropriate, including but not limited to discharging or
paying all taxes, liens, security interests, encumbrances and other claims, at
any time levied or placed on the Collateral and paying all costs for insuring,
maintaining and preserving the Collateral. All such expenditures incurred or
paid by Lender for such purposes will then bear interest at the rate charged
under the Note from the date incurred or paid by Lender to the date of repayment
by Grantor. All such expenses will become a part of the Indebtedness and, at
Lender's option, will (A) be payable on demand; (B) be added to the balance of
the Note and be apportioned among and be payable with any installment payments
to become due during either (1) the term of any applicable insurance policy; or
(2) the remaining term of the Note; or (C) be treated as a balloon payment which
will be due and payable at the Note's maturity. The Agreement also will secure
payment of these amounts. Such right shall be in addition to all other rights
and remedies to which Lender may be entitled upon Default.

    

    LIMITATIONS
ON OBLIGATIONS OF LENDER. Lender shall use ordinary reasonable care in the
physical preservation and custody of any certificate or passbook for the
Collateral but shall have no other obligation to protect the Collateral or its
value. In particular, but without limitation, Lender shall have no
responsibility (A) for the collection or protection of any income on the
Collateral; (B) for the preservation of rights against issuers of the Collateral
or against third persons; (C) for ascertaining any maturities, conversions,
exchanges, offers, tenders, or similar matters relating to the Collateral; nor
(D) for informing the Grantor about any of the above, whether or not Lender has
or is deemed to have knowledge of such matters.

    

    DEFAULT.
Each of the following shall constitute an Event of Default under this
Agreement:

    

    Payment
Default. Grantor fails to make any payment when due under the
Indebtedness.

    

    Other
Defaults. Grantor fails to comply with or to perform any other term, obligation,
covenant or condition contained in this Agreement or in any of the Related
Documents or to comply with or to perform any term, obligation, covenant or
condition contained in any other agreement between Lender and
Grantor.

    

    Default
in Favor of Third Parties. Any guarantor or Grantor defaults under any loan,
extension of credit, security agreement, purchase or sales agreement, or any
other agreement, in favor of any other creditor or person that may materially
affect any of guarantor’s or Grantor's property or ability to perform their
respective obligations under this Agreement or any of the Related
Documents.

    

    False
Statements. Any warranty, representation or statement made or furnished to
Lender by Grantor or on Grantor's behalf under this Agreement or the Related
Documents is false or misleading in any material respect, either now or at the
time made or furnished or becomes false or misleading at any time
thereafter.

    

      
        
           

        

        
          Page
2

          
            

          

        

        
           

        

      

    

    

    ASSIGNMENT
OF DEPOSIT ACCOUNT

    (Continued)

    

    Loan No:
R-13166891

    
      

    

    

    Defective
Collateralization. This Agreement or any of the Related Documents ceases to be
in full force and effect (including failure of any collateral document to create
a valid and perfected security interest or lien) at any time and for any
reason.

    

    Insolvency.
The dissolution or termination of Grantor's existence as a going business, the
insolvency of Grantor, the appointment of a receiver for any part of Grantor's
property, any assignment for the benefit of creditors, any type of creditor
workout, or the commencement of any proceeding under any bankruptcy or
insolvency laws by or against Grantor.

    

    Creditor
or Forfeiture Proceedings. Commencement of foreclosure or forfeiture
proceedings, whether by judicial proceeding, self-help, repossession or any
other method, by any creditor of Grantor or by any governmental agency against
any collateral securing the Indebtedness. This includes a garnishment of any of
Grantor's accounts, including deposit accounts, with Lender. However, this Event
of Default shall not apply if there is a good faith dispute by Grantor as to the
validity or reasonableness of the claim which is the basis of the creditor or
forfeiture proceeding and if Grantor gives Lender written notice of the creditor
or forfeiture proceeding and deposits with Lender monies or a surety bond for
the creditor or forfeiture proceeding, in an amount determined by Lender, in its
sole discretion, as being an adequate reserve or bond for the
dispute.

     

    Events
Affecting Guarantor. Any of the preceding events occurs with respect to any
Guarantor of any of the Indebtedness or Guarantor dies or becomes incompetent or
revokes or disputes the validity of, or liability under, any Guaranty of the
Indebtedness.

    

    Adverse
Change. A material adverse change occurs in Grantor's financial condition, or
Lender believes the prospect of payment or performance of the Indebtedness is
impaired.

    

    Insecurity.
Lender in good faith believes itself insecure.

    

    RIGHTS
AND REMEDIES ON DEFAULT. Upon the occurrence of an Event of Default, or at any
time thereafter, Lender may exercise any one or more of the following rights and
remedies, in addition to any rights or remedies that may be available at law, in
equity, or otherwise:

    

    Accelerate
Indebtedness. Lender may declare all Indebtedness of Grantor to Lender
immediately due and payable, without notice of any kind to Grantor.

    

    Application
of Account Proceeds. Lender may take directly all funds in the Account and apply
them to the Indebtedness. In the same manner as if the Account had been issued
by Lender. If the Account is subject to an early withdrawal penalty, that
penalty shall be deducted from the Account before its application to the
Indebtedness, whether the Account is with Lender or some other institution. Any
excess funds remaining after application of the Account proceeds to the
Indebtedness will be paid to Grantor as the interests of Grantor may appear.
Grantor agrees, to the extent permitted by law, to pay any deficiency after
application of the proceeds of the Account to the Indebtedness. Lender also
shall have all the rights of a secured party under the Georgia Uniform
Commercial Code, even if the Account is not otherwise subject to such Code
concerning security interests, and the parties to this Agreement agree that the
provisions of the Code giving rights to a secured party shall nonetheless be a
part of this Agreement.

    

    Transfer
Title. Lender may effect transfer of title upon sale of all or part of the
Collateral. For this purpose, Grantor irrevocably appoints Lender as Grantor's
attorney-in-fact to execute endorsements, assignments and instruments in the
name of Grantor and each of them (if more than one) as shall be necessary or
reasonable.

     

    Other
Rights and Remedies. Lender shall have and may exercise any or all of the rights
and remedies of a secured creditor under the provisions of the Georgia Uniform
Commercial Code, at law, in equity, or otherwise.

     

    Deficiency
Judgment. If permitted by applicable law, Lender may obtain a judgment for any
deficiency remaining in the Indebtedness due to Lender after application of all
amounts received from the exercise of the rights provided in this
section.

    

    Election
of Remedies. Except as may be prohibited by applicable law, all of Lender's
rights and remedies, whether evidenced by this Agreement or by any other
writing, shall be cumulative and may be exercised singularly or concurrently.
Election by Lender to pursue any remedy shall not exclude pursuit of any other
remedy, and an election to make expenditures or to take action to perform an
obligation of Grantor under this Agreement, after Grantor's failure to perform,
shall not affect Lender's right to declare a default and exercise its
remedies.

     

    Cumulative
Remedies. All of Lender's rights and remedies, whether evidenced by this
Agreement or by any other writing, shall be cumulative and may be exercised
singularly or concurrently. Election by Lender to pursue any remedy shall not
exclude pursuit of any other remedy, and an election to make expenditures or to
take action to perform an obligation of Grantor under this Agreement, after
Grantor's failure to perform, shall not affect Lender's right to declare a
default and to exercise its remedies.

    

    MISCELLANEOUS
PROVISIONS. The following miscellaneous provisions are a part of this
Agreement:

    
      

        
          
             

          

          
            Page
3

            
              

            

          

          
             

          

        

      

      

      ASSIGNMENT
OF DEPOSIT ACCOUNT

      (Continued)

      

      Loan No:
R-13166891

      
        

      

       

    

    Amendments.
This Agreement, together with any Related Documents, constitutes the entire
understanding and agreement of the parties as to the matters set forth in this
Agreement. No alteration of or amendment to this Agreement shall be effective
unless given in writing and signed by the party or parties sought to be charged
or bound by the alteration or amendment.

    

    Attorneys'
Fees; Expenses. Grantor agrees to pay upon demand all of Lender's costs and
expenses, including Lender's attorneys' fees and Lender's legal expenses,
incurred in connection with the enforcement of this Agreement. Lender may hire
or pay someone else to help enforce this Agreement, and Grantor shall pay the
costs and expenses of such enforcement. Costs and expenses include Lender's
attorneys' fees and legal expenses whether or not there is a lawsuit, including
attorneys' fees and legal expenses for bankruptcy proceedings (including efforts
to modify or vacate any automatic stay or injunction), appeals, and any
anticipated post-judgment collection services. Grantor also shall pay all court
costs and such additional fees as may be directed by the court.

    

    Caption
Headings. Caption headings in this Agreement are for convenience purposes only
and are not to be used to interpret or define the provisions of this
Agreement.

    

    Governing
Law. This Agreement will be governed by federal law applicable to Lender and, to
the extent not preempted by federal law, the laws of the State of Georgia
without regard to its conflicts of law provisions. This Agreement has been
accepted by Lender In the State of Georgia.

    

    No Waiver
by Lender. Lender shall not be deemed to have waived any rights under this
Agreement unless such waiver is given in writing and signed by Lender. No delay
or omission on the part of Lender in exercising any right shall operate as a
waiver of such right or any other right. A waiver by Lender of a provision of
this Agreement shall not prejudice or constitute a waiver of Lender's right
otherwise to demand strict compliance with that provision or any other provision
of this Agreement. No prior waiver by Lender, nor any course of dealing between
Lender and Grantor, shall constitute a waiver of any of Lender's rights or of
any of Grantor's obligations as to any future transactions. Whenever the consent
of Lender is required under this Agreement, the granting of such consent by
Lender in any instance shall not constitute continuing consent to subsequent
instances where such consent is required and in all cases such consent may be
granted or withheld in the sole discretion of Lender.

    

    Notices.
Any notice required to be given under this Agreement shall be given in writing,
and shall be effective when actually delivered, when actually received by
telefacsimile (unless otherwise required by law), when deposited with a
nationally recognized overnight courier, or, if mailed, when deposited in the
United States mail, as first class, certified or registered mail postage
prepaid, directed to the addresses shown near the beginning of this Agreement.
Any party may change its address for notices under this Agreement by giving
formal written notice to the other parties, specifying that the purpose of the
notice is to change the party's address. For notice purposes, Grantor agrees to
keep Lender informed at all times of Grantor's current address. Unless otherwise
provided or required by law, if there is more than one Grantor, any notice given
by Lender to any Grantor is deemed to be notice given to all
Grantors.

    

    Power of
Attorney. Grantor hereby appoints Lender as its true and lawful
attorney-in-fact, irrevocably, with full power of substitution to do the
following: (1) to demand, collect, receive, receipt for, sue and recover all
sums of money or other property which may now or hereafter become due, owing or
payable from the Collateral; (2) to execute, sign and endorse any and all
claims, instruments, receipts, checks, drafts or warrants issued in payment for
the Collateral; (3) to settle or compromise any and all claims arising under the
Collateral, and in the place and stead of Grantor, to execute and deliver its
release and settlement for the claim; and (4) to file any claim or claims or to
take any action or institute or take part in any proceedings, either in its own
name or in the name of Grantor, or otherwise, which in the discretion of Lender
may seem to be necessary or advisable. This power is given as security for the
Indebtedness, and the authority hereby conferred is and shall be irrevocable and
shall remain in full force and effect until renounced by Lender.

    

    Severability.
If a court of competent jurisdiction finds any provision of this Agreement to be
illegal, invalid, or unenforceable as to any circumstance, that finding shall
not make the offending provision illegal, invalid, or unenforceable as to any
other circumstance. If feasible, the offending provision shall be considered
modified so that it becomes legal, valid and enforceable. If the offending
provision cannot be so modified, it shall be considered deleted from this
Agreement. Unless otherwise required by law, the illegality, invalidity, or
unenforceability of any provision of this Agreement shall not affect the
legality, validity or enforceability of any other provision of this
Agreement.

    

    Successors
and Assigns. Subject to any limitations stated in this Agreement on transfer of
Grantor's interest, this Agreement shall be binding upon and inure to the
benefit of the parties, their successors and assigns. If ownership of the
Collateral becomes vested in a person other than Grantor, Lender, without notice
to Grantor, may deal with Grantor's successors with reference to this Agreement
and the Indebtedness by way of forbearance or extension without releasing
Grantor from the obligations of this Agreement or liability under the
Indebtedness.

    

      
        
           

        

        
          Page
4

          
            

          

        

        
           

        

      

    

     

    ASSIGNMENT
OF DEPOSIT ACCOUNT

    (Continued)

    

    Loan No:
R-13166891

    
      
        

      

    

    

    Survival
of Representations and Warranties. All representations, warranties, and
agreements made by Grantor in this Agreement shall survive the execution and
delivery of this Agreement, shall be continuing in nature, and shall remain in
full force and effect until such time as Grantor's Indebtedness shall be paid in
full.

    

    Time is
of the Essence. Time is of the essence in the performance of this
Agreement.

    

    DEFINITIONS.
The following capitalized words and terms shall have the following meanings when
used in this Agreement. Unless specifically stated to the contrary, all
references to dollar amounts shall mean amounts in lawful money of the United
States of America. Words and terms used in the singular shall include the
plural, and the plural shall include the singular, as the context may require.
Words and terms not otherwise defined in this Agreement shall have the meanings
attributed to such terms in the Uniform Commercial Code:

    

    Account.
The word "Account" means the deposit accounts described in the "Collateral
Description" section.

    

    Agreement.
The word "Agreement" means this Assignment of Deposit Account, as this
Assignment of Deposit Account may be amended or modified from time to time,
together with all exhibits and schedules attached to this Assignment of Deposit
Account from time to time.

    

    Borrower.
The word "Borrower" means AMERICAN CONSUMERS, INC. DBA SHOP RITE and includes
all co-signers and co-makers signing the Note and all their successors and
assigns.

    

    Collateral.
The word "Collateral" means all of Grantor's right, title and interest in and to
all the Collateral as described in the Collateral Description section of this
Agreement.

    

    Default.
The word "Default" means the Default set forth in this Agreement in the section
titled "Default".

     

    Event of
Default. The words "Event of Default" mean any of the events of default set
forth in this Agreement in the default section of this Agreement.

    

    Grantor.
The word "Grantor" means AMERICAN CONSUMERS, INC. DBA SHOP RITE.

    

    Guarantor.
The word "Guarantor" means any guarantor, surety, or accommodation party of any
or all of the Indebtedness.

    

    Guaranty.
The word "Guaranty" means the guaranty from Guarantor to Lender, including
without limitation a guaranty of all or part of the Note.

    

    Indebtedness.
The word "Indebtedness" means the indebtedness evidenced by the Note or Related
Documents, including all principal and interest together with all other
indebtedness and costs and expenses for which Grantor is responsible under this
Agreement or under any of the Related Documents. Specifically, without
limitation, Indebtedness includes all amounts that may be indirectly secured by
the Cross-Collateralization provision of this Agreement.

    

    Lender.
The word "Lender" means GATEWAY BANK & TRUST, its successors and
assigns.

    

    Note. The
word "Note" means the Note executed by AMERICAN CONSUMERS, INC. DBA SHOP RITE in
the principal amount of $800,000.00 dated April 25, 2008, together with all
renewals of, extensions of, modifications of, refinancings of, consolidations
of, and substitutions for the note or credit agreement.

    

    Property.
The word "Property" means all of Grantor's right, title and interest in and to
all the Property as described in the "Collateral Description" section of this
Agreement.

    

    Related
Documents. The words "Related Documents" mean all promissory notes, credit
agreements, loan agreements, environmental agreements, guaranties, security
agreements, mortgages, deeds of trust, security deeds, collateral mortgages, and
all other instruments, agreements and documents, whether now or hereafter
existing, executed in connection with the Indebtedness.

    

    GRANTOR
HAS READ AND UNDERSTOOD ALL THE PROVISIONS OF THIS ASSIGNMENT OF DEPOSIT ACCOUNT
AND AGREES TO ITS TERMS. THIS AGREEMENT IS DATED APRIL 25, 2008.

    

    THIS
AGREEMENT IS GIVEN UNDER SEAL AND IT IS INTENDED THAT THIS AGREEMENT IS AND
SHALL CONSTITUTE AND HAVE THE EFFECT OF A SEALED INSTRUMENT ACCORDING TO
LAW.

    

    GRANTOR:

    

    AMERICAN
CONSUMERS, INC. DBA SHOP RITE

    

    
      	
              By:

            	
              /s/
      Michael A. Richardson

            	
              (Seal)

            	
              By:

            	
              /s/
      Paul R. Cook

            	
              (Seal)

            
	 
      	
              MICHAEL A. RICHARDSON,
      President of

            	 
      	 
      	
              PAUL R. COOK,
      Chief Financial Officer of

            	 
      
	 
      	
              AMERICAN
      CONSUMERS, INC. DBA SHOP RITE

            	 
      	 
      	
              AMERICAN
      CONSUMERS, INC. DBA SHOP RITE

            	 
      

    

     

     

    Page 5ex10_33.htm

    
      

    

    Exhibit
10.33

         5
/ 8       , 2008

    

    

    American
Consumers, Inc.

    55 Hannah
Way

    Rossville,
GA  30741

    

    

    Gentlemen:

    

    This
letter agreement amends and clarifies certain terms in that certain Business
Loan Agreement and related Promissory Note, each dated as of April 25, 2008
concerning a revolving line of credit in the maximum amount of $800,000.00 being
provided by Gateway Bank & Trust (the “Lender”) to American Consumers, Inc.
doing business as Shop Rite (the “Borrower”).

    

    Each of
the above-referenced documents is hereby modified as follows:

    

    
      	
              1.

            	
              The
      paragraph entitled “Other Agreements” on page 2 of the Business Loan
      Agreement is hereby modified to read as
follows:

            

    

    

    Other
Agreements.   Comply with all terms and conditions of all
other agreements, whether now or hereafter existing, between Borrower and any
other party and notify Lender immediately in writing of any default in
connection with any other such agreement; provided, however, that this paragraph
shall only apply to any such noncompliance or default that would materially,
adversely affect Borrower’s financial condition or properties.

    

    
      	
              2.

            	
              The
      paragraph entitled “Adverse Change” on page 3 of the Business Loan
      Agreement is hereby modified to read as
follows:

            

    

    

    Adverse
Change.   A material adverse change occurs in Borrower’s
financial condition.

    

    Additionally,
the first sentence of the paragraph entitled “Variable Interest Rate” on the
face of the Promissory Note is hereby modified to read as follows:

    

    The
interest rate on this Note is subject to change from time to time based on
changes in an independent index which is the Wall Street Journal Prime Rate (the
“Index”).

     

    By
execution of this Letter Agreement below, each of the parties hereby agrees to
and accepts the modifications to the terms of the above-referenced Business Loan
Agreement and the related Promissory Note set forth herein, as of this 8th day
of May, 2008.

    

     

    
      	
              Gateway
      Bank & Trust

            	 	
              American
      Consumers, Inc.

            
	 
      	 
      	 	 
      	 
      
	 
      	 
      	 	 
      	 
      
	
              By:

            	
              /s/ Shawn Rogers

            	 	
              By:

            	
              /s/ Paul R. Cook

            
	 
      	 
      	 	 
      	 
      
	
              Name:

            	
              Shawn Rogers

            	 	
              Name:

            	
              Paul R. Cook

            
	 
      	 
      	 	 
      	 
      
	
              Title:

            	
              Sr. Vice President

            	 	
              Title:

            	
              Cheif Financial
  Officer

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