Document:

ex_10-4.htm

    Minatura
Gold

    2514
Via De Pallon Cir.

    Henderson,
NV 89074

    

    March
27, 2009

    Paul
Dias

    President

    Gold
Ventures 2008, LLC

    

    

    
      	
               
      

            	
              RE:

            	
              Membership Purchase
      Agreement- Gold Ventures 2008,
LLC

            

    

    

    Mr.
Dias:

    

     

         This
Letter of Intent will confirm the intent of the parties with respect to the
proposed membership purchase of 100% of the membership interests (the
“Membership Interest”) of Gold Ventures 2008, LLC (“GV”). On terms and
conditions mutually acceptable to Minatura Gold, and GV, the Membership Purchase
will be structured as a Membership Purchase whereby Minatura Gold will issue
shares of its common stock in exchange for the Membership Interest. The
objective of our discussion has been the execution and consummation, as
soon as feasible, a formal definitive Membership Purchase Agreement (together
with all other definitive documents pertaining thereto, collectively the
"Agreement") between Minatura Gold and GV which, among other things, would
provide for the various matters set forth below.

     

    

    This
letter neither constitutes a legally binding agreement nor creates any rights or
interests in favor of the parties, it being understood that any rights and
obligations which the parties may have, to each other, remain to be set forth in
the definitive Agreement described below, into which this letter and all prior
discussions shall merge.

    

    The
principal business of GV is to operate multiple gold mining operations in
Columbia. The Company’s strategy is to maintain a mining infrastructure at the
leading edge of technology by updating and enhancing multiple gold mining
consessions.

    

    Minatura
Gold is a public company with a class of common stock registered with the
Securities and Exchange Commission pursuant to Section 12g, and with its common
stock quoted on the  Over the Counter Bulletin Board under the current
symbol of BTTA.

    

    
      	
              1.  

            	
              Parties;
      Structure. The transaction will take the form of a Membership
      Purchase between Minatura Gold and GV. At the Effective Time and upon the
      terms and subject to the conditions of the Agreement, the Membership
      Interest will be acquired by Minatura Gold, whereby Minatura Gold will
      operate the Assets of GV.

            

    

    

    
      	
              2.  

            	
              Consideration;
      Stock Issuance. Minatura Gold and GV will evaluate the existing
      assets to determine the value of the Membership Interest to determine a
      final acquisition valuation.

            

    

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    
 

    
      	
              3.  

            	
              Membership
      Purchase Agreement. The parties would proceed in good faith to
      negotiate the terms of a mutually acceptable Agreement containing such
      covenants, representations, warranties and conditions as are customary in
      transactions of this type, but including the matters described herein. The
      parties will use their best efforts to complete the Agreement and have the
      Agreement approved by the parties managing members and Board of Directors
      by May 1, 2009.

            

    

    

    
      	
              4.  

            	
              Due
      Diligence. Minatura Gold and its attorneys, accountants and other
      representatives will have full access to the books, records and technology
      of GV to complete its due diligence investigation of GV before closing of
      the purchase of the Membership
interest.

            

    

    

    
      	
              5.  

            	
              Representations
      and Warranties. The Membership Purchase Agreement would contain
      such representations and warranties with respect to the business, property
      and financial condition of GV as may reasonably be required by Minatura
      Gold. In turn, Minatura Gold would provide GV with certain representations
      and warranties to the business, property and financial condition of
      Minatura Gold as may reasonably be required by GV. These representations
      and warranties by both Minatura Gold and GV would include, without
      limitation, matters such as the
following:

            

    

    

    As
to GV:

    

    
      	
              a.  

            	
              GV
      is duly organized and validly existing under the laws of the jurisdiction
      or country of formation and has all requisite corporate power and
      authority to own and hold its respective properties and conduct the
      business in which it is engaged; holds all material licenses, permits and
      other authorizations from governmental authorities needed to conduct its
      business; and all of the outstanding shares of GV are duly authorized and
      validly issued, fully paid and
nonassessable.

            

    

    

    
      	
              b.  

            	
              GV
      has good and marketable title to all of its assets, and title is valid and
      proper.

            

    

    

    
      	
              c.  

            	
              The
      financial statements of GV are true, correct and
  complete.

            

    

    

    As to Minatura Gold:

    

    
      	
              a.  

            	
              Minatura
      Gold is duly organized and validly existing under the laws of the State of
      Nevada and has all requisite corporate power and authority to own and hold
      its respective properties and conduct the business in which it is engaged;
      holds all material licenses, permits and other authorizations from
      governmental authorities needed to conduct its
  business.

            

    

    

    
      	
              b.  

            	
              Minatura
      Gold has good and marketable title to all of its assets, and title is
      valid and proper.

            

    

    

    
      	
              c.  

            	
              The
      audited financial statements of Minatura Gold as of and for the year ended
      December 31, 2008, are true, and
correct.

            

    

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    
 

    
      	
              6.  

            	
              Issuance
      of Shares. The shares issued in the Membership Interest Sale will
      be issued in reliance on certain exemptions from registration provided by
      the Securities Act of 1933 and are not intended to be registered with the
      Securities and Exchange Commission.

            

    

    

    
      	
              7.  

            	
              Shareholder
      and Members Approval. The Sale of the Membership Interest will be
      subject to approval by GV Members and a majority of Minatura Gold
      shareholders will provide their approval to the Agreement. At the time of
      execution of the Membership Purchase Agreement, GV and Minatura Gold’s
      affiliates, and Board of Directors will agree to vote in favor of the
      merger.

            

    

    

    
      	
              8.  

            	
              Conditions.
      The Agreement will provide that the obligations of the respective parties
      to complete the Agreement would be subject to the following conditions
      together with such other conditions as may reasonably be required by each
      party:

            

    

    

    Conditions Prior to GV
Closing:

    

    
      	
              a.  

            	
              The
      Board of Directors of Minatura Gold shall have approved the
      Agreement.

            

    

    

    
      	
              b.  

            	
              A
      majority of shareholders of Minatura Gold shall have approved the
      Agreement.

            

    

    

    
      	
              c.  

            	
              There
      shall have been no material adverse change in the financial condition,
      earnings or prospects of Minatura
Gold.

            

    

    

    
      	
              d.  

            	
              GV
      shall complete such due diligence as is deemed by its management
      sufficient to complete the Membership
  Acquisition.

            

    

    

    

    Conditions Prior to Minatura Gold
Closing:

    

    
      	
              a.  

            	
              The
      Managing Members and all Members of GV shall have approved the Membership
      Sale.

            

    

    

    
      	
              b.  

            	
              There
      shall have been no material adverse change in the financial condition,
      earnings or prospects of GV.

            

    

    

    
      	
              c.  

            	
              Minatura
      Gold shall complete such due diligence as is deemed by the Board of
      Directors sufficient to complete the
  transaction.

            

    

    

    
      	
              d.  

            	
              GV’s
      Members shall have approved the Membership Interest
  Sale.

            

    

    

    
      	
              e.  

            	
              GV
      shall have provided Minatura Gold with a copy of its Financial Statements
      for years ending December 31, 2007 and December 31, 2008; both prepared
      according to US GAAP.

            

    

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    
 

    
      	
              9.  

            	
              Press
      Releases. The Parties will consult with each other prior to issuing
      any press release or other public statement regarding the proposed
      transaction. It is strictly understood by the Parties that the information
      contained herein is confidential in nature and that no such public
      disclosure, other than as agreed by the parties, shall be made by either
      party. Both parties understand that Minatura Gold is subject to rules and
      regulations as are promulgated by the Federal Securities Laws of the
      United States, and in an effort to avoid the disclosure of material
      non-public information, the parties agree that upon execution of this
      Letter of Intent, Minatura Gold will file a Form 8-K with the Securities
      and Exchange Commission.

            

    

    

    
      	
              10.  

            	
              Disclosure.
      Minatura Gold and GV agree to take all reasonable precautions to prevent
      any trading in Minatura Gold securities by their respective officers,
      directors, employees, affiliates, agents or others having knowledge of the
      proposed Asset Sale until the proposed Asset Sale has been disclosed to
      the general public through the filing of a Form 8-K. The parties
      understand and agree that until a press release is issued, if ever, or
      other public disclosure has been made by Minatura Gold, neither party will
      disclose the fact that these negotiations are taking place, except to
      professional advisors and to employees of Minatura Gold and GV on a
      need-to­ know basis.

            

    

    

    
      	
              11.  

            	
              Continuation
      of Business. From the date of this letter of intent until the
      expiration of the Exclusive Period, GV will con­tinue to operate its
      business in the ordinary course and will not enter into any transaction or
      agreement or take any action out of the ordinary course, including any
      transaction or commitment greater than $25,000, any declaration of
      dividends, grants of new stock options or issuance of new shares of stock
      or rights thereto without first notifying Minatura
  Gold.

            

    

    

    
      	
              12.  

            	
              Exclusive
      Negotiations. GV agrees that from the date of this letter and until
      such time as the transaction shall have been consummated or the parties
      shall have agreed to terminate the negotiation of this transaction, it
      will not permit any of its agents or representatives to, solicit, initiate
      or encourage inquiries or proposals, or provide any information or
      participate in any negotiations leading to any proposal concerning any
      Membership Purchase or purchase of all or any substantial portion of the
      assets or shares of GV or any merger or consolidation of GV with any third
      party.

            

    

    

    
      	
              13.  

            	
              Expenses.
      Whether or not the parties enter into the Agreement, all costs and
      expenses incurred in connection with this Letter of Intent and the
      proposed Asset Sale shall be paid by the party incurring such costs. If
      for any reason the transaction is not consummated, neither party will have
      any claim against the other with respect to such
  expenses.

            

    

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    
 

    
      	
              14.  

            	
              Nature
      of Negotiations. The parties understand that the negotiations
      described in this letter are merely preliminary merger negotiations. This
      letter does not constitute a binding agreement between Minatura Gold or
      GV.

            

    

    

    
      	
              15.  

            	
              Remedies.
      In the event of a termination of the negotiations by either party, upon 24
      hours written notice the other parties may not be entitled to any remedy
      for such termination.  Notice shall be provided as
      follows:

            

    

    

    

    Minatura
Gold

    2514
Via De Pallon Cir.

    Henderson,
NV 89074

    

    Paul
Dias

    Gold
Ventures 2008, LLC

    c/o
Stoecklein Law Group

    402
W Broadway

    Suite
690

    San
Diego, CA 92101

    

    Please
indicate your agreement to and acceptance of this letter of intent by signing
and returning the enclosed copy of this letter to the undersigned before 5:00 pm
Pacific Standard Time on March 27th,
2009.

    

    

    Very
truly yours,

    

    

    /s/ Stephen Causey                                                          

    President

    Minatura
Gold

    

    Agreed
and accepted as of March 27th,
2009

    

    Gold
Ventures 2008 LLC

    

    

    

    By:
/s/ Paul Dias                                                          

    Paul Dias

    

    Its:
Chief Executive OfficerExhibit
10.96

 

AMENDMENT
NO. 2

to

LOAN AND
SECURITY AGREEMENT

 

THIS AMENDMENT NO.
2 to LOAN AND SECURITY AGREEMENT (the “Amendment”),
dated as of March 30, 2009, between ISI SECURITY GROUP, INC.
(the “Borrower”) and THE PRIVATEBANK AND TRUST COMPANY (the “Bank”).

 

WITNESSETH:

 

WHEREAS, the Borrower and
the Bank are parties to the Loan and Security Agreement dated as of October 3,
2008, as amended by Amendment No. 1 to Loan and Security Agreement, dated
as of January 8, 2009 (the “Loan Agreement”)
(capitalized terms used and not otherwise defined herein shall have the meaning
ascribed thereto in the Loan Agreement); and

 

WHEREAS, the Borrower has
requested and the Bank has agreed to the amendments to the Loan Agreement more
fully set forth herein; and

 

WHEREAS, such amendments
shall be of benefit, either directly or indirectly, to the Borrower;

 

NOW THEREFORE, in
consideration of the covenants, conditions and agreements hereinafter set
forth, the parties hereto agree as follows:

 

1.             Amendments.  Upon and
after the Amendment Effective Date (as defined below)

 

(a)           Section 10.5 of the Loan Agreement is restated and amended in its
entirety as follows:

 

(i)            Maximum Capital Expenditures.  (i) For
the fiscal quarters ending March 31, 2009, June 30, 2009 and September 30,
2009, the Company and its Subsidiaries, on a consolidated basis, shall not make
Capital Expenditures in excess of $300,000 per fiscal quarter; and (ii) for
the twelve (12) month period ending on December 31, 2009 and each twelve
(12) month period ending on the last day of each fiscal quarter thereafter, the
Company and its Subsidiaries, on a consolidated basis, shall not make Capital
Expenditures in excess of $2,000,000.”

 

2.             Representations and Warranties. 
In order to induce the Bank to agree to the amendment described in Section 1
of this Amendment, the Borrower makes the following representations and
warranties, which shall survive the execution and delivery of this Amendment:

(a)           No
Event of Default will exist immediately after giving effect to the amendment
contained herein;

 

1

 

(b)           Each
of the representations and warranties set forth in Section 7 of the
Loan Agreement are true and correct as though such representations and
warranties were made at and as of the Amendment Effective Date, except to the
extent that any such representations or warranties are made as of a specified
date or with respect to a specified period of time, in which case such
representations and warranties shall be made as of such specified date or with
respect to such specified period.  Each
of the representations and warranties made under the Loan Agreement shall
survive to the extent provided therein and not be waived by the execution and
delivery of this Amendment;

 

(c)           The
Borrower is a duly organized, validly existing Delaware corporation and has the
power and authority to execute, deliver and carry out the terms and provisions
of this Amendment, and has taken or caused to be taken all necessary corporate
action to authorize the execution, delivery and performance of this Amendment;

 

(d)           No
consent of any other Person or filing or action by any governmental
authorities, is required to authorize the execution, delivery and performance
of this Amendment;

 

(e)           This
Amendment has been duly executed by a duly authorized signatory on behalf of
the Borrower and constitutes the legal, valid and binding obligation of the
Borrower, enforceable in accordance with its terms, except as enforcement
thereof may be subject to the effect of any applicable (i) bankruptcy,
insolvency, reorganization, moratorium or similar law affecting creditors’
rights generally and (ii) general principals of equity; and

 

(f)            The execution and delivery and performance of the
agreements in this Amendment will not violate any law, statute or regulation
applicable to the Borrower or any order or decree of any governmental
authorities, or conflict with or result in the breach or any contractual
obligation of the Borrower.

 

3.             Conditions Precedent to Effectiveness of
the Amendment.  This Amendment is subject to the satisfaction
of (or waiver by the Bank in its sole discretion) the following conditions
precedent:

 

(a)                           No Potential Event of Default or Event of
Default under the Loan Agreement shall have occurred and be continuing;

 

(b)                           The Guarantors shall have executed and
delivered to the Bank a Reaffirmation of Guaranty Agreement in the form
attached to this Amendment; and

 

(c)                           The Borrower shall have executed and
delivered such other documents and instruments that the Bank may reasonably
request to effect the purposes of this Amendment.

 

4.             Expenses.  The Borrower
agrees to pay on demand all reasonable costs and expenses, including filing and
recording fees, incurred by the Bank in connection with the preparation,
execution and delivery of this Amendment, and any other documents or
instruments which may be delivered in connection herewith, including without
limitation, the reasonable fees and expenses of legal counsel for the Bank.

 

2

 

5.             Counterparts. 
This Amendment may be executed in counterparts and by different parties
hereto in separate counterparts, each of which, when so executed and delivered,
shall be deemed to be an original and all of which, when taken together, shall
constitute one and the same instrument. 
Faxed or emailed signatures of this Agreement shall be binding on the
parties.  Each party shall promptly send
to the other party signed originals of faxed or emailed signatures to this
Agreement.

 

6.             Ratification. 
The Loan Agreement, as amended by this Amendment, is and shall continue
to be in full force and effect and is hereby in all respects confirmed,
approved and ratified.  Except as amended
or waived hereby, all terms and conditions of the Loan Agreement remain the
same.

 

7.             Release.  In consideration of the amendments provided
herein, the Borrower releases and discharges the Bank, and its directors,
officers, employees, agents, successors and assigns from all claims and causes
of action of any nature whatsoever, which the Borrower, its successors and
assigns ever had or have as of the date hereof against the Bank that arise,
directly or indirectly, out of or are related to the Loan Agreement. The
Borrower acknowledges that the Obligations arising under the Loan Agreement are
not subject to any such counterclaim, offset, defense or rights of recoupment
against the Bank.

 

8.             Governing Law. 
The rights and duties of the Borrower and the Bank under this Amendment
shall be governed by the law of the State of Illinois.

 

9.             Reference to Loan Agreement. 
From and after the Amendment Effective Date, each reference in the Loan
Agreement to “this Loan Agreement”, “hereof”, “hereunder” or words of like
import, and all references to the Loan Agreement in any and all agreements,
instruments, documents, notes, certificates and other writings of every kind
and nature, shall be deemed to mean the Loan Agreement as modified and amended
by this Amendment.

 

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

 

ISI SECURITY GROUP, INC.

 

 

	
  By: 

  	
    /s/
  Donald F. Neville

  	
   

  
	
  Name:
  

  	
  Donald F. Neville

  
	
  Title:

  	
  CFO

  
	
   

  	
   

  
	
  THE
  PRIVATEBANK AND TRUST COMPANY

  
	
   

  	
   

  
	
   

  	
   

  
	
  By: 

  	
    /s/
  Nate Palmer

  	
   

  
	
  Name:
  

  	
  Nate Palmer

  
	
  Title:

  	
  Associated Managing
  Director

  
				

 

3

 

REAFFIRMATION OF GUARANTY AGREEMENT

 

The undersigned (a) acknowledges
receipt of a copy of (i) Amendment No. 2 to Loan and Security
Agreement, dated March 30, 2009, between ISI Security Group, Inc. and
The PrivateBank and Trust Company, (b) consents to such amendments and
waivers and all prior amendments and each of the transactions referenced
therein, and (c) hereby reaffirms its obligations under its Unconditional
Continuing Guaranty Agreement, dated as of October 3, 2008 in favor of The
PrivateBank and Trust Company.

 

Dated as of March 30,
2009

 

	
  DETENTION
  CONTRACTING GROUP, LTD.,

  	
   

  
	
  a Texas limited
  partnership

  	
   

  
	
   

  	
   

  	
   

  
	
  By:

  	
  ISI
  DETENTION CONTRACTING

  	
   

  
	
   

  	
  GROUP,
  INC., a Texas corporation,

  	
   

  
	
   

  	
  its general partner

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  By:

  	
  /s/ Donald F. Neville

  	
   

  
	
  Name:

  	
  Donald F. Neville

  	
   

  
	
  Title:

  	
  CFO

  	
   

  
	
   

  	
   

  	
   

  
	
  ISI
  DETENTION CONTRACTING

  	
   

  
	
  GROUP,
  INC., a Texas corporation

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  By:

  	
  /s/ Donald F. Neville

  	
   

  
	
  Name:

  	
  Donald F. Neville

  	
   

  
	
  Title:

  	
  CFO

  	
   

  
	
   

  	
   

  	
   

  
	
  ISI
  DETENTION CONTRACTING

  	
   

  
	
  GROUP,
  INC., a California corporation

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  By:

  	
  /s/ Donald F. Neville

  	
   

  
	
  Name:

  	
  Donald F. Neville

  	
   

  
	
  Title:

  	
  CFO

  	
   

  
	
   

  	
   

  	
   

  
	
  ISI
  DETENTION CONTRACTING

  	
   

  
	
  GROUP,
  INC., a New Mexico corporation

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  By:

  	
  /s/ Donald F. Neville

  	
   

  
	
  Name:

  	
  Donald F. Neville

  	
   

  
	
  Title:

  	
  CFO

  	
   

  
	
   

  	
   

  	
   

  
	
  ISI
  DETENTION SYSTEMS, INC.,

  	
   

  
	
  a Texas corporation

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  By:

  	
  /s/ Donald F. Neville

  	
   

  
	
  Name:

  	
  Donald F. Neville

  	
   

  
	
  Title:

  	
  CFO

  	
   

  

 

4

 

	
  ISI
  SYSTEMS, LTD.,

  	
   

  
	
  a Texas limited
  partnership

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  By:

  	
  ISI
  DETENTION SYSTEMS, INC.,

  	
   

  
	
   

  	
  a Texas corporation,
  its general partner

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  By:

  	
  /s/ Donald F. Neville

  	
   

  
	
  Name:

  	
  Donald F. Neville

  	
   

  
	
  Title:

  	
  CFO

  	
   

  
	
   

  	
   

  	
   

  
	
  METROPLEX
  CONTROL SYSTEMS, INC.,

  	
   

  
	
  a Texas corporation,
  (f/k/a ISI Metroplex Controls, Inc.)

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  By:

  	
  /s/ Donald F. Neville

  	
   

  
	
  Name:

  	
  Donald F. Neville

  	
   

  
	
  Title:

  	
  CFO

  	
   

  
	
   

  	
   

  	
   

  
	
  ISI
  CONTROLS, LTD.,

  	
   

  
	
  a Texas limited
  partnership

  	
   

  
	
   

  	
   

  	
   

  
	
  By:

  	
  METROPLEX
  CONTROL SYSTEMS, INC.,

  	
   

  
	
   

  	
  a Texas corporation,
  its general partner

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  By:

  	
  /s/ Donald F. Neville

  	
   

  
	
  Name:

  	
  Donald F. Neville

  	
   

  
	
  Title:

  	
  CFO

  	
   

  
	
   

  	
   

  	
   

  
	
  METROPLEX
  COMMERCIAL FIRE AND

  	
   

  
	
  SECURITY
  ALARMS, INC., a Texas corporation

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  By:

  	
  /s/ Donald F. Neville

  	
   

  
	
  Name:

  	
  Donald F. Neville

  	
   

  
	
  Title:

  	
  CFO

  	
   

  
	
   

  	
   

  	
   

  
	
  MCFSA,
  LTD.,

  	
   

  
	
  a Texas limited partnership

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  By:

  	
  METROPLEX
  COMMERCIAL FIRE AND

  	
   

  
	
   

  	
  SECURITY
  ALARMS, INC., a Texas

  	
   

  
	
   

  	
  corporation, its
  general partner

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  By:

  	
  /s/ Donald F. Neville

  	
   

  
	
  Name:

  	
  Donald F. Neville

  	
   

  
	
  Title:

  	
  CFO

  	
   

  
	
   

  	
   

  	
   

  
	
  COM-TEC
  SECURITY, LLC,

  	
   

  
	
  a Wisconsin limited
  partnership

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  By:

  	
  /s/ Donald F. Neville

  	
   

  
	
  Name:

  	
  Donald F. Neville

  	
   

  
	
  Title:

  	
  CFO

  	
   

  

 

5

 

	
  COM-TEC
  CALIFORNIA LIMITED

  	
   

  
	
  PARTNERSHIP,
  a Wisconsin

  	
   

  
	
  limited partnership

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  By:

  	
  /s/ Donald F. Neville

  	
   

  
	
  Name:

  	
  Donald F. Neville

  	
   

  
	
  Title:

  	
  CFO

  	
   

  

 

6

 

REAFFIRMATION OF GUARANTY AGREEMENT

 

The undersigned (a) acknowledges
receipt of a copy of (i) Amendment No. 2 to Loan and Security
Agreement, dated March 30, 2009, between ISI Security Group, Inc. and
The PrivateBank and Trust Company, (b) consents to such amendments and
waivers and all prior amendments and each of the transactions referenced
therein, and (c) hereby reaffirms its obligations under its Unconditional
Continuing Guaranty Agreement, dated as of January 8, 2009 in favor of The
PrivateBank and Trust Company.

 

Dated as of March 30,
2009

 

	
  ARGYLE
  SECURITY, INC., a Delaware corporation

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  By:

  	
  /s/ Donald F. Neville

  	
   

  
	
  Name:

  	
  Donald F. Neville

  	
   

  
	
  Title:

  	
  CFO

  	
   

  

 

7

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00156-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00156-of-00352.parquet"}]]