Document:

Exhibit 10.30 

AMENDMENT NO. 1 TO
MASTER LEASE AGREEMENT 

        THIS
AMENDMENT NO. 1 TO MASTER LEASE AGREEMENT is made as of the 9th day of November, 2005 by
and between GENERAL ELECTRIC CAPITAL CORPORATION (“Lessor”) and DUCKWALL-ALCO
STORES, INC. (the “Lessee”). 

        The
parties have heretofore entered into that certain Master Lease Agreement dated as of
November 9, 2005 (the “Lease”). The parties desire to amend the Lease pursuant
to the terms and conditions hereinafter set forth. Capitalized terms used herein without
definition shall have the meaning given them in the Lease. 

        NOW,
THEREFORE, in consideration of the sum of Ten Dollars ($10.00) in hand paid, and other
good and valuable consideration, the receipt and sufficiency of which are hereby
acknowledged, the parties agree as follows: 

	 	1.  	  	Section
3 of the Lease is hereby amended in the 3rd sentence by
                    inserting after the words “interim rent” the following
language:                     “in the form of interest (as hereinafter set forth)” and
by deleting                     the 4th sentence in its entirety and replacing
it with the following                     language: “Except as may otherwise be
indicated in a Schedule or other                     rider or addendum hereto or thereto,
interim rent shall be equal to the interest                     on any amounts advanced
by Lessor to the Supplier or Lessee or on behalf of the                     Lessee, as
the case may be, under a Schedule, at an interest rate equal to one
                    percent (1%) in excess of the Prime Rate (as hereinafter defined),
but in no                     event greater than the highest rate permitted by law. As
used herein,                     “Prime Rate” shall mean the prime rate listed
in The Wall Street                     Journal on the date of the advance by
Lessor. If The Wall Street                     Journal is not published on such
date or no prime rate is listed on such                     date, then it shall be the
prime rate listed in The Wall Street Journal                    published prior to
and closest to such advance date. If more than one prime rate                     is
listed in The Wall Street Journal on the applicable date, then
                    the highest rate shall apply. The aforesaid interest shall accrue
from and                     including the Acceptance Date to and excluding the first
Payment date and shall                     be calculated on the basis of a 360-day year
and a 30-day month.” 

	 	2.  	  	Section
13(b)(i) of the lease is hereby amended by deleting the language of
                    such subsection in its entirety and replacing it with the following
sentence:                     “At Lessee’s expense, permit Lessee, provided
there exists no other                     Event of Default at such time, to promptly
replace the affected Equipment with                     like or better replacement
equipment of similar make, model, configuration,                     capacity and
condition, free and clear of all liens, which replacement equipment
                    must (i) be compatible with the remaining Equipment, (ii) have equal
or greater                     performance standard than the replaced Equipment and (iii)
have equal or greater                     value than the replaced Equipment, in which
case any such replacement equipment                     shall become the property of
Lessor and for all purposes of this Lease Agreement                     shall be deemed
to be the Equipment which it replaced. Lessee agrees that                     replaced
Equipment will not be put back into service or into use unless and
                    until it has been completely refurbished to original standards.” 

	 	3.  	  	Section
18 of the Lease is hereby amended by deleting the words “of five
                    cents ($0.05) per dollar on, and in addition to,...” in the 2nd                    sentence
and inserting the following words in replacement thereof: “equal
                    to an interest rate of eighteen percent (18%) per annum on the late
Payment or                     other obligation in addition to...”).  

	 	4.  	  	Section
24 of the Lease is hereby amended by deleting the 1st                    sentence
in its entirety and replacing it its entirety with the following
                    language: “At least 90 days prior to expiration of the Term or
any extended Term, by e-mail notification to Lessee’s e-mail
address(es), Lessor will 

	  	
forward
notification to Lessee of the impending expiration of such Term via an online asset
management system (the “System”), provided that Lessor’s failure to so
forward such notification shall not waive, affect, modify or impair any of Lessee’s
obligations hereunder. Lessor shall provide Lessee access to such System that provides
maturity information for all Equipment. Lessee shall provide to Lessor, if necessary,
updated e-mail addresses no later than 120 days before the expiration of any Term. If
Lessee fails to notify Lessor in accordance herewith and/or Lessor fails to notify Lessee
pursuant to the System, the Term of the applicable Schedule shall not expire upon its
scheduled expiration date but shall automatically continue in accordance with Section 26
below. Lessee shall provide to Lessor no less than three (3) working e-mail addresses. At
least 60 days but no more than 90 days prior to expiration of the Term or any extended
Term, Lessee shall give Lessor written notice of its intent to return the Equipment (and
terminate the applicable Schedule) or, in the alternative, exercise an option that is set
forth in the applicable Schedule, provided that, if Lessor timely fails to forward the
e-mail notification (as set forth above), then 30 days after Lessor does forward such
e-mail notification, Lessee shall be required to give Lessor the 60-day written notice of
its intent to return the Equipment (and terminate the applicable Schedule).” 

	 	5.  	  	Section
 25(a)(i) of the Lease is hereby amended by deleting the last three (3)
                    words (“it becomes due”) and replacing such words with the
following                     language: “Lessor’s oral or written notice to the
Lessee.”                    Section 25(a)(ii) of the Lease is hereby amended by
deleting inserting at the                     end the following language: “and such
failure continues for 10 days after                     Lessor’s oral or written
notice to the Lessee.” 

	 	6.  	  	Section
 26 of the Lease is hereby amended in the 1st sentence by
                    changing “one hundred eighty” to “ninety” and by
changing                     “ninety” to “sixty” and in the last
sentence by changing                     ‘ninety” to sixty.” 

	 	7.  	  	Section
 33 of the Lease is hereby amended in the last sentence by inserting at
                    the beginning of such sentence the following language: “After
the                     occurrence of an Event of Default hereunder and the acceleration
by Lessor of                     the balance owed by Lessee in accordance with Section 25
above, then...” 

	 	8.  	  	Except
as expressly set forth herein, the terms and conditions of the Lease
                    remain unmodified and in full force and effect. This Amendment is
binding upon,                     and inures to the benefit of, the successors and
assigns of the parties hereto.  

[Signature Page to Follow]  

IN WITNESS WHEREOF, the parties have
caused this Amendment to be executed as of the date first above set forth.  

	 	 	
      GENERAL ELECTRIC CAPITAL
        CORPORATION

       

    
	 	 	 	By:	 /s/ Susan Lydon
      

    
	 	 	 	 Name:	 Susan Lydon
	 	 	 	Title: 	Manager Portfolio Admin.
	 	 	 	 	 
	 	 	 	
      DUCKWALL-ALCO STORES,
        INC.

       

    
	 	 	 	By: 	/s/ Richard A. Mansfield 
      

    
	 	 	 	 Name: 	Richard A. Mansfield
	 	 	 	Title:	V.P./CFOExhibit 10.31 

GE Technology Finance  

	  	
3755
NW Falcon Ridge
                                                                       
Bend, OR 97701
                                                                       
541 317 4175
 Office                                                                        
513 794
5844   Fax 

Revised December 2, 2005 9 (Lock
Language Added) 
Revised November 4, 2005 
August 3, 2005  

Mr. Dick Mansfield 
Chief Financial
Officer 
Duckwall-ALCO Stores, Inc. 
401 Cottage Avenue 
Abilene, KS, 67410 

Via:  E-mail 

Dear Dick: 

On behalf of General Electric
Capital Corporation, I am pleased to present the following flexible lease financing
proposal to Duckwall-ALCO. 

	 		
	LESSEE: 	Duckwall-ALCO Stores, Inc. (“DUCK”)	  
	 	 	 
	LESSOR: 	General Electric Capital Corporation, and/or its
      assigns (“Lessor” or “GECC”)	  
	 	 	 
	VENDOR: 	Various.	  
	 	 	 
	EQUIPMENT: 	Miscellaneous IT assets*/** including, but not
      limited to:	  
	  	Hardware:	  
	  	Host Hardware**	$     411,027.00 
	  	IT Hardware POS	$  5,579,045.00 
	  	POS Installation and other miscellaneous	$  1,161,800.00 
			
      

    
	  	    Total Hardware	$  7,151,872.00 
	  	Software:	  
	  	Software, services/labor/consulting/installation:	$  6,652,779.00 
			
      

    
	  	    Total Software/Implementation	$  6,652,779.00 
	 	 	 
	  	Total Equipment	$13,804,651.00 

 

	                                    * 		All
equipment is subject to review and approval by GETF for configuration and
                                    price.

	                                    ** 		Assumes
Duck will keep initial Host Hardware purchase of $529,557 on its
                                    own line of credit.

EQUIPMENT 

	COST:  	  	GECC
will establish a $14,500,000 lease line for DUCK
                                    
Note:  This lease line is for existing stores only.
 The lease line can be                                     increased to accommodate any
new stores that DUCK plans to open. 

 

	LOCATION:  	  	DUCK
offices and retail facilities throughout the United States 

PAYMENT 

	FREQUENCY:  	  	Quarterly,
in advance 

	INITIAL TERM:  	  	60
months for software and 48 months for hardware as outlined below 

	ANTICIPATED ROLLOUT PERIOD:  	  	Beginning
August 1, 2005 through July 31, 2006 

	LEASE SCHEDULES:  	  	GETF
would issue assignment of DUCK purchase orders and pay for IT assets
                                    accepted throughout the rollout period.  All
assets/licenses/services accepted                                     by DUCK during a
quarterly period would comprise one lease schedule that would
                                    commence the first day of the next calendar quarter.
  e.g. items/services                                     delivered, installed, and
accepted in October, November and December, would be
                                    on a lease schedule commencing January 1, 2006 

	COMMENCEMENT DATE:  	  	The
first day of the quarter following the Acceptance Date 

SOFTWARE AND
SERVICES  

LEASE PAYMENT FACTOR: 

	 
      

    
	Lease Term 	Lease Rate Factor as a percentage
      of Original Equipment Cost (“OEC”) plus applicable taxes
	 
      

    
	60 	5.8272 
	 
      

    

	  	  	The
Lease Rate Factors in this proposal are indicative only and are based on
rates in effect at the time this proposal was issued
for similar instruments and similar maturities to
this lease, comparable term U.S. Treasuries. The
original equipment cost for each schedule shall be
multiplied by the Lease Rate Factor to determine the
quarterly payment  

SOFTWARE AND
SERVICES                                                    
END OF LEASE 

	OPTIONS:  	  	$1.00
Purchase Option 

IT HARDWARE AND
MISCELLANEOUS ASSETS  

LEASE PAYMENT FACTOR: 

	 
      

    
	Lease Term 	Lease Rate Factor as a percentage
      of Original Equipment Cost (“OEC”) plus applicable taxes 
	 
      

    
	48 	6.2373 
	 
      

    

	  	  	The
Lease Rate Factors in this proposal are indicative only and are based on
rates in effect at the time this proposal was issued
for similar instruments and similar maturities to
this lease, comparable term U.S. Treasuries as well
as a final review by GECC’s Asset Management team.
The original equipment cost for each schedule shall
be multiplied by the Lease Rate Factor to determine
the quarterly payment.  

IT HARDWARE AND
MISCELLANEOUS ASSETS                                                    
END OF LEASE 

	OPTIONS:  	  	Fair
Market Value purchase and extension options 

	NET LEASE:  	  	This
will be a net lease and unless listed under the items to be financed, Lessee shall be
responsible for all expenses,                                     maintenance, insurance
and taxes relating to the purchase, lease, possession
                                    and use of the Equipment. 

	ASSET MANAGEMENT:  	  	Lessor
agrees to grant Lessee a license to utilize its proprietary Internet
                                    based Asset Tracking software (eFlow) for an amount
equal to $1.00.  This                                     licensing fee includes an
unlimited seat license, all necessary                                     implementation,
training and support for all assets under lease with GETF.
                                    All of the data on the DUCK leases, including but not
limited to, lease                                     schedule start date, lease schedule
end date, asset description, asset                                     location and
rental amount will be available to DUCK through the asset
                                    management tool. 

CONDITIONS 

	PRECEDENT:  	  	Based
on a preliminary review of your financing request, we would consider
                                    your request for lease funding subject to the
following parameters.  Funding                                     shall be contingent
upon: 

		•		Negotiation
and approval of mutually acceptable language in GECC’s standard Master Lease, and
Equipment                                       Schedules that contain all necessary
documentation with addendums.

		•		All
documentation shall be prepared by Lessor’s counsel and shall contain such other terms
and                                       conditions as Lessor or its counsel deems
necessary.

		•		Satisfactory
review of the collateral and Software licenses by Lessor.

		•		Final
documentation approval of Lessor’s Executive Committee.

 

	           TRANSACTION COSTS:  	  	The
Lessee would be responsible for (i) all of its closing costs, and (ii)
                                       the cost of any external appraisal and external
legal expenses. The Lessor                                                    would be
responsible for all of its closing costs. 

HARDWARE PRICE 

	LOCK OPTION:  	  	DUCK
has agreed to lock in the Lease Rate  Factor  shown in this  proposal  for
                                    the Hardware  Schedules  associated with this
proposal (the Software  Schedules                                     will have  Lease
Rate  Factors  that will float  based on market  rates).  DUCK
                                    acknowledges  that a fee equal to $71, 518.72 (1% of
the Hardware  fundings) is                                     given for the express
purpose of locking the quoted  rate/payment  for fundings
                                    that occur on or before  September  1, 2006.  This
fee is  refundable  only (a)                                     when the entire
 approved  funding is drawn or (b) if Lessor  does not  approve
                                    the  transaction  (after  receipt  from  Borrower of
all  reasonably  requested                                     information).  If the
entire  approved  funding  is not drawn,  then a pro-rata
                                    portion of the fee will be refunded  (rated to the
amount  that was drawn).  If                                     the draw down occurs
 after the  proposed  date,  then the Lessor  reserves the
                                    right  to  either  terminate  the  commitment  to
 rate  lock  and  retain  the                                     commitment fee or
adjust the rate/payment as per market conditions. 

	                      	  	In
 association  with this lock in  arrangement,  it is agreed by both DUCK and
                                    GECC that all Hardware  Schedules  will have a
 commencement  date  starting no                                     earlier  than July
1, 2006 and no later than  September  1, 2006.  All fundings
                                    prior to July 1,  2006  will  accumulate  and pay
 interest  only  based on the                                     interest rate set forth
in the Master Lease Agreement. 

	               ACCEPTANCE:  	  	By
signing the proposal, Lessee acknowledges the terms and conditions of
                                                                     this proposal. 

THIS PROPOSAL COMPRISES A STATEMENT
OF PRESENT INTENT AND IS NOT AN OFFER TO LEASE NOR A COMMITMENT SO TO LEASE. GECC or its
assigns is contemplating your delivery to it of an application for lease financing and
all necessary documents for its credit underwriting.  This proposal is governed by the
laws of the State of Connecticut.  It is also understood that all of the information
contained herein is confidential. 

This proposal expires on the close
of business Tuesday, December 6, 2005

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00094-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00094-of-00352.parquet"}]]