Document:

EXHIBIT 10.1

 

AGREEMENT

 

THIS AGREEMENT is made and entered into by and between Invisa, Inc. (“Invisa”)
and Centurian Investors, Inc. (“Lender”) as of this 7th day of March, 2014 for good and valuable consideration in
hand received including but not limited to the promises and covenants contained herein.

 

WITNESSETH:

 

WHEREAS, Invisa is engaged in the business of manufacturing and marketing safety sensors
based on InvisaShield technology for use in the parking gate industry and potentially for other applications;

 

WHEREAS, Lender has provided loans (“Senior Secured Notes”) to Invisa under
an existing collateralized credit facility which Invisa has used to support its operations under a line of credit, (the “Line
of Credit”);

 

WHEREAS, the aggregate balance of the Senior Secured Notes as of December 31, 2013, was
$1,224,060, which sum, together with interest thereon, is due and payable on March 31, 2015;

 

WHEREAS, the existing Line of Credit is scheduled to terminate on March 31, 2015;

 

WHEREAS, Invisa has a negative cash flow and requires continued access to additional funding
to sustain its business operations and implement its business plans;

 

WHEREAS, Invisa wishes to establish a long-term, predictable financing arrangement to potentially
support its business operations and explore other business opportunities and such as licensing and business combinations as they
may arise;

 

WHEREAS, Invisa wishes to extend and expand the Line of Credit to potentially provide a
predictable time horizon during which Invisa can continue to pursue its business opportunities and potentially develop and introduce
the next generation of InvisaShield technology and continue to seek other business opportunities; and

 

WHEREAS, Lender is willing to extend the maturity date of the Senior Secured Notes and to
extend and expand Invisa’s Line of Credit in accordance with the terms and conditions as set forth in this Agreement.

 

    	

    	 

    

 

 

 

NOW THEREFORE, in consideration of the foregoing and the provisions set forth below,
the parties mutually agree as follows:

 

		A.	Lender
                                         agrees to extend the maturity date of all Senior Secured Notes including all amounts
                                         currently due and all amounts lent after the date hereof under the Line of Credit from
                                         March 31, 2015 to April 15, 2018 in accordance with Exhibit A,
		B.	Lender
                                         agrees to modify the Line of Credit in accordance with Exhibit B:

		(i)	To
                                         extend the term of the Line of Credit from March 31, 2015 to April 15, 2018 in accordance
                                         with Exhibit B,

		(ii)	To
                                         expand the amount available to be borrowed by Invisa under the Line of Credit to a maximum
                                         of $500,000 to support Invisa’s business operations and exploration of other business
                                         opportunities, and

		(iii)	To
                                         permit funds borrowed under the Line of Credit to be used, subject to Lender’s
                                         approval of a business plan and use of proceeds, for engineering and development of the
                                         next-generation InvisaShield technology to the extent justified by product validation
                                         and market opportunity and for other business opportunities.

		C.	Invisa
                                         will amend the Designation of Rights for its outstanding Series A, B and C Preferred
                                         Stock to expand voting rights to give Lender through its affiliates voting control of
                                         Invisa in accordance with Exhibit C.

		D.	This
                                         agreement, including Exhibits A, B and C, constitutes the complete agreement of the Parties
                                         with regard to the subject matter hereof.

		E.	This
                                         Agreement shall be governed by and construed in accordance with the laws of the State
                                         of Florida without reference to the conflicts of laws principles thereof, and the venue
                                         for any action under or related to this Agreement shall be in Sarasota County, Florida.

		F.	This
                                         Agreement may not be amended except by means of a document signed by both parties.

 

NOW THEREFORE, the parties have executed this Agreement as of the date first above
written.

 

	 	Invisa, Inc.	 	Centurian Investors, Inc.	 
	 	 	 	 	 
	 	 	 	 	 
	 	/s/
    Edmund C. King	 	/s/
    Howard R. Curd	 
	 	Edmund C. King	 	Howard R. Curd	 
	 	Chief Executive Officer	 	Chief Executive Officer	 
	 	Date:  March 7, 2014	 	Date:  March 7, 2014	 
	 	 	 	 	 

    	2EXHIBIT 10.2

 

AGREEMENT TO AMEND THE
LINE OF CREDIT

 

 

This AGREEMENT TO AMEND LINE OF CREDIT (this
"AGREEMENT"), is made and entered into by and between Invisa, Inc., a Nevada corporation, having a business at 1800
2nd Street, Suite 965, Sarasota, Florida 34236 (the “Borrower”), and Centurian Investors, Inc., a Delaware corporation,
having an address at 1800 2nd Street Suite 970, Sarasota, Florida 34236 (the “Lender”) as of this 7th day of March,
2014 (the “Effective Date”).

 

RECITALS:

 

WHEREAS, Borrower and Lender are parties to
an arrangement (“Line of Credit”) under which Borrower is indebted to Lender pursuant to a series of Senior Secured
Notes that have an aggregate principal balance of $1, 224,060 at December 31, 2013, (the “Senior Secured Notes”),

 

WHEREAS, the Senior Secured Notes are secured
by (a) an aggregate of 3,848,485 shares of common stock of Borrower and (b) a first priority lien on all of the assets of Borrower
as more specifically described in the Note and that certain General Security Agreement, dated February 28, 2007 (the “Security
Agreement” the Notes and the Security Agreement, together with all documents executed in connection therewith being hereinafter
referred to collectively as the “Loan Documents”); and

 

WHEREAS, Lender has agreed to extend the maturity
of all outstanding Senior Secured Notes and all additional Notes that may be issued under the Line of Credit to April 15, 2018;

 

WHEREAS, Lender has agreed to extend the term
of the Line of Credit to April 15, 2018 and to agree to maintain the Line of Credit in place for the benefit of Borrower until
April 15, 2018;

 

WHEREAS, Lender has agreed to make Five Hundred
Thousand Dollars ($500,000) available to be borrowed by Borrower under the terms and conditions of the Line of Credit;

 

NOW THEREFORE, for ten ($10.00) Dollars, and
other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the parties hereby agree as
follows:

 

1. Terms used herein, which are defined in
the loan documents shall have the same meanings when used herein unless otherwise provided herein.

 

2. The Line of Credit shall extend through
and remain in place until April 15, 2018 the “Line of Credit Term”).

 

3. Lender hereby commitments and agrees to
make Five Hundred Thousand Dollars ($500,000) available to be borrowed by Borrower under the Line of Credit.

 

4. This Agreement will not negatively impact
Borrowers absolute obligation to repay all principal and interest borrowed under the Line of Credit. Further, this Agreement will
not reduce or in any fashion adversely impact Lender’s rights as a secured party or collateral interest in the collateral
pledged by Borrower under the Line of Credit or the Senior Secured Notes.

 

5. Borrower agrees that all remaining provisions
of the Line of Credit and each Senior SecuredNote issued thereunder shall remain in full force and effect without any changes
or modification except as expressly stated herein.

 

    	1

    	 

    

 

6. The provisions set forth herein are limited
precisely as written and shall not be deemed to (a) be a consent to, or waiver or modification of, any other term or condition
of the Loan Documents, or (b) except as expressly set forth herein, prejudice any right or rights which the Lender may now have
or may have in the future under or in connection with the Loan Documents or any of the other documents referred to therein. Except
as expressly modified hereby or by express written amendments thereof, the terms and provisions of the Loan Documents or any other
documents or instruments executed in connection with any of the foregoing are and shall remain in full force and effect. In the
event of a conflict between this Amendment and any of the foregoing documents, the terms of this Amendment shall be controlling.
The representations and warranties made in each Loan Document are true and correct in all material respects on and as of the date
of this Amendment.

 

7. None of the provisions of this Agreement
shall inure to the benefit of any person other than Lender and Borrower.

 

8. This Agreement and the documents referred
to herein represent the entire understanding of the parties hereto regarding the subject matter hereof and supersede all prior
and contemporaneous oral and written agreements of the parties hereto with respect to the subject matter hereof.

 

9. This Agreement may be executed in any number
of counterparts and by different parties on separate counterparts and all of such counterparts shall together constitute one and
the same instrument. Complete sets of counterparts shall be lodged with the Borrower and the Lender.

 

IN WITNESS WHEREOF, this Agreement is executed as of the date first
written above and shall be effective as of the Effective Date.

 

	Invisa, Inc.	 	Centurian Investors, Inc.
	 	 	 
	 	 	 
	/s/
    Edmund C. King	 	/s/
    Howard R. Curd
	Edmund C. King	 	Howard R. Curd
	Chief Executive Officer	 	Chief Executive Officer
	Date:  March 7, 2014	 	Date:  March 7, 2014
	 	 	 

    	2

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