Document:

FIRST AMENDMENT TO LEASE

     THIS FIRST AMENDMENT TO LEASE is made as of September 21, 2005 (this "First
Amendment"),  between FAIRFIELD  PROPERTY  ASSOCIATES LL ("Landlord") and HARVEY
ELECTRONICS, INC. ("Tenant").

                                    RECITALS:

     A.  Landlord  and Tenant  entered  into a lease  dated  July 21,  2000 (the
"Lease"), which Lease demises certain premises comprised of approximately 11,841
Gross Rentable Square Feet in Unit 130 (the "Demised  Premises") of the building
located at 353 Route 46 West, Fairfield, New Jersey.

     B.  Tenant  and  Landlord  desire  to  extend  the term of the Lease and to
memorialize  and confirm other changes to the terms and  conditions of the Lease
as set forth below.

                                   AGREEMENT:

     NOW, THEREFORE,  in consideration of the mutual covenants herein contained,
and other good and valuable consideration,  the receipt and sufficiency of which
are  hereby  conclusively  acknowledged,  Landlord  and Tenant  hereby  agree as
follows:

     1. The above Recitals are specifically incorporated herein by reference.

     2. In the event the terms or  conditions of this First  Amendment  conflict
with,  disagree with, or add to any term(s) or condition(s)  of the Lease,  this
First   Amendment   shall  be  deemed   controlling   and  shall  supersede  any
contradictory provision(s).

     3. All capitalized terms and other terms not otherwise defined herein shall
have the meanings ascribed to them in the Lease.

     4. All references in the Lease to Landlord  shall mean  Fairfield  Property
Associates LLC.

     5. The term of the Lease is hereby  extended by three (3) years and one (1)
month  commencing on December 1, 2005 (the "Renewal  Date") and  terminating  on
December 31, 2008 (the  "Extended  Term").  All  references to the "term" or the
"Term" under the Lease shall mean the term as extended by this First Amendment.

     6. Beginning on the Renewal Date:

     (a) Base Rent shall be:
<TABLE>
<CAPTION>

         Period                                             Annual Base Rent         Monthly Base Rent
         ------                                            ----------------         -----------------
<S>      <C>                                                    <C>                        <C>
         December 1, 2005 through December 31, 2005             $0.00                      $0.00
         January 1,2006 through December 31, 2008               $74,006.28                 $6,167.19
</TABLE>

     (b) Tenant's Building Percentage shall remain 19.41%, subject to adjustment
per terms of the Lease.

     (c) Tenant's Common Area Payment shall be $3,895.20,  subject to adjustment
per terms of the Lease.

     7. Tenant is in  possession of the Demised  Premises and shall  continue to
lease Demised Premises in its "AS IS" condition.  In lieu of Landlord performing
any work in the Demised  Premises,  Landlord  agrees to allow Tenant a credit of
not more than Five Thousand and 00/100 Dollars  ($5,000.00) to be used by Tenant
for the sole  purpose of  improving  the Demised  Premises,  including,  without
limitation,  paint and/or carpeting. Such credit(s) shall be applied to the next
occurring  installments of Base Rent. Credit(s) shall be approved, in Landlord's
reasonable  discretion,  upon submission by Tenant to Landlord of  documentation
that expenditures were made during the Improvement  Period.  Such  documentation
shall  be in the form of (i) a  narrative  of the  improvement(s)  made for each
particular expenditure,  setting out the nature, purpose and location within the
Demised  Premises of the particular  improvement  for which credit is requested,
(ii) invoices and cancelled  checks for payment of such invoices and (iii) where
applicable,   final  lien  waivers,   duly  executed  by  all   contractors  and
subcontractors  performing  such  work,  indicating  that  such  work  has  been
completed  and paid for in full.  Landlord  reserves  the right to  inspect  the
Demised Premises prior to approving any credit for the purpose of confirming the
completion and value of the  improvement.  Tenant shall submit requests for rent
credit(s)  pursuant to this  Paragraph  in amounts of not less than Two Thousand
and 00/100 Dollars ($2,000.00) per request, with the exception of a final credit
request, which may be for any amount.

     8. Landlord is holding the sum of $5,332.69 as Security and shall  continue
to hold same pursuant to the terms of the Lease.

     9. Landlord and Tenant each warrant and represent to the other that neither
employed,  dealt with nor  negotiated  with any broker in  connection  with this
transaction  other than Associated  Realty,  Inc. and SBWE, Inc.  ("Broker") and
each agrees to indemnify and hold  harmless the other against any loss,  cost or
expense (including  reasonable  attorneys' fees) arising out of a breach of such
representation by the indemnitor. Landlord shall pay any commission owing Broker
pursuant to a separate agreement.

     10.  Landlord and Tenant affirm that the Lease is in full force and effect,
and Tenant certifies that all obligations of Landlord under the Lease as of this
date have been fully  performed and complied with by Landlord.  By entering into
this First  Amendment,  Landlord  does not and shall not be deemed either (i) to
waive or forgive any default,  rent arrears or other  conditions with respect to
the Lease or the use of the Demised  Premises,  whether or not in  existence  or
known to  Landlord  at the date  hereof,  or (ii) to consent to any matter as to
which Landlord's  consent is required under the terms of the Lease,  except such
as may  heretofore  have been  waived in writing or  consented  to in writing by
Landlord.

     11.  Tenant  represents  and  warrants  that it has  obtained  all required
consents to enter into this First Amendment.

     12. Except as expressly modified or amended by this First Amendment, all of
the  terms,  covenants  and  conditions  of the Lease are  hereby  ratified  and
confirmed  and,  except insofar as reference to the contrary is made in any such
instrument, all references to the "Lease" in any future correspondence or notice
shall be deemed to refer to the Lease as modified by this First Amendment.

     13.  This First  Amendment  is offered  for  signature  by Tenant and it is
understood  that this First  Amendment  shall not be binding  upon  Landlord  or
Tenant   unless  and  until   Landlord  and  Tenant  shall  have   executed  and
unconditionally  delivered a fully executed copy of this First Amendment to each
other.

     IN WITNESS WHEREOF, the parties have this day set their hands and seals.

Signed, Sealed and Delivered
In the presence of:                LANDLORD:
                                   FAIRFIELD PROPERTY ASSOCIATES LLC

                                   By:  Fairfield Management Associates, LLC

______________________________     By:  /s/ Steven J. Denholtz
                                        --------------------------------------
                                        Steven J. Denholtz, Managing Member

                                   TENANT:
                                   HARVEY ELECTRONICS, INC.

[NOTARY ACKNOWLEDGEMENT]           By: /s/Joseph J. Calabrese
                                       ---------------------------------------
                                       Name:  Joseph J. Calabrese
                                       Title: Executive Vice President
                                              Chief Financial OfficerSECOND AMENDMENT AGREEMENT

     THIS SECOND AMENDMENT  AGREEMENT (this "Second  Amendment") is entered into
as of  January  20,  2006 by and  among  Harvey  Electronics,  Inc.,  a New York
corporation ("Borrower"), and Webster Business Credit Corporation ("Lender").

                                  Introduction

     Borrower and Lender are parties to a Loan and Security  Agreement  dated as
of November 21, 2003 (as amended through the date hereof and as further amended,
restated,  supplemented  or  otherwise  modified  from  time to time,  the "Loan
Agreement")  pursuant to which Lender has agreed to make revolving  credit loans
and to provide certain other financial accommodations to Borrower.

     Borrower has requested certain amendments to the Loan Agreement.  Lender is
willing to effect the amendments of the Loan Agreement  requested by Borrower on
the terms and conditions hereinafter set forth.

     NOW, THEREFORE,  in consideration of the foregoing and the mutual covenants
herein contained, and for other good and valuable consideration, the receipt and
sufficiency  of which are hereby  acknowledged,  Borrower  and  Lender  agree as
follows:

     1.  Amendments  to the  Loan  Agreement.  Upon the date  that  this  Second
Amendment  shall  have  been  executed  by each of the  parties  hereto  and all
conditions set forth in Section 3 of this Second  Amendment have been satisfied,
Borrower and Lender agree that the Loan Agreement shall be amended as follows:

     (a) Section 7.21 of the Loan  Agreement is hereby  amended by deleting such
Section  7.21 in its entirety and  inserting in lieu thereof the  following  new
Section 7.21:

     7.21 Financial Covenants.

     (a) Minimum EBITDA. Measured as of the last day of each fiscal month, allow
(A) EBITDA for such fiscal month to vary  negatively  by more than $187,500 from
the EBITDA  projected  for such fiscal month in the Business Plan and (B) EBITDA
for the  rolling-three  fiscal month period ended on the last day of each fiscal
month to vary  negatively by more than  $375,000  from the EBITDA  projected for
such rolling-three  fiscal month period in the Business Plan. In the case of the
first two fiscal months covered by the Business Plan, the  calculation in clause
(B) shall be made using the  applicable  months from the prior  year's  Business
Plan.

     (b) Capital  Expenditures.  Make capital  expenditures  (other than capital
expenditures made with proceeds of Permitted Purchase Money Indebtedness) in any
fiscal year in excess of $1,000,000.

     (c)  Covenant  levels with respect to EBITDA and capital  expenditures  for
periods beyond those set forth in the foregoing  subsections (a) and (b) will be
set at a later date and based upon the  applicable  Business  Plans  approved by
Lender. Borrower shall submit each such Business Plan in accordance with Section
6.3(c).  If Borrower fails to deliver an updated  Business Plan  satisfactory to
Lender in its  Permitted  Discretion  or if  Borrower  and  Lender are unable to
mutually  agree  upon  covenant  levels  with  respect  to  EBITDA  and  capital
expenditures  by October 15 of any fiscal year, the minimum Excess  Availability
at all times thereafter shall be no less than $1,500,000."

     (d) 2006  Business  Plan.  Borrower has delivered to Lender a business plan
and set of Projections  for its fiscal quarter ending [October 31, 2006], a copy
of which is attached  hereto as Exhibit A (the "2006  Business  Plan").  For the
period from the date that this Second  Amendment is effective  through  [October
31, 2006],  the term  "Business  Plan" shall mean the 2006 Business Plan for all
purposes of the Loan Agreement (as amended hereby).

     2. Lender's Rights. Lender expressly reserves the full extent of its rights
under the Loan  Agreement,  the other Loan  Documents  and  applicable  law with
respect to any Default or Event of Default existing on the date hereof.

     3. Conditions  Precedent to Second  Amendment.  The satisfaction of each of
the following,  unless waived or deferred by Lender in its Permitted  Discretion
constitute conditions precedent to the effectiveness of this Second Amendment:

     (a) Lender shall have  received  this Second  Amendment,  duly  executed by
Borrower;

     (b) the representations  and warranties in this Second Amendment,  the Loan
Agreement,  as amended  hereby,  and the other Loan Documents  shall be true and
correct in all  respects  on and as of the date  hereof,  as though made on such
date  (except to the extent  that such  representations  and  warranties  relate
solely to an earlier date);

     (c) no Default or Event of Default shall have occurred and be continuing on
the date  hereof,  and no  Default  or Event of Default  shall  result  from the
consummation of the transactions contemplated herein;

     (d) no injunction,  writ,  restraining  order, or other order of any nature
prohibiting,  directly  or  indirectly,  the  consummation  of the  transactions
contemplated  herein  shall have been issued and remain in force by any court or
other governmental authority against Borrower or Lender; and

     (e)  Lender  shall  have  received  payment  in full  of its  out-of-pocket
expenses  (including  reasonable  attorneys'  fees  and  expenses)  incurred  in
connection with  the Loan Agreement and this Second Amendment.

     4. Representations and Warranties.  Borrower hereby represents and warrants
to the Lender that:

     (a) the execution,  delivery, and performance of this Second Amendment, the
Loan Agreement and the other Loan Documents (i) are within Borrower's  corporate
powers, (ii) have been duly authorized by all necessary corporate action,  (iii)
do not  require  any  approval  or consent of any Person  under any  contractual
obligation  of the Borrower and (iv) do not  contravene  (A) any law,  rule,  or
regulation, or any order, judgment,  decree, writ or injunction, or award of any
arbitrator,  court,  or  Governmental  Authority,  (B) the terms of its charter,
bylaws  or  other  operative  or  formative  documents  or (C) any  contract  or
undertaking  to which it is a party or by  which  any of its  properties  may be
bound or affected;

     (b) this Second Amendment has been duly executed and delivered by Borrower;

     (c)  this  Second  Amendment  and the Loan  Agreement  and the  other  Loan
Documents,  each  as  previously  amended  and  as  amended  hereby,  constitute
Borrower's legal, valid, and binding  obligations,  enforceable against Borrower
in accordance with their respective terms;

     (d)  Borrower is in  compliance  with all of the terms and  provisions  set
forth in the  Loan  Agreement  and each of the  other  Loan  Documents,  each as
previously  amended  and as  amended  hereby,  on its  part  to be  observed  or
performed on or prior to the date hereof; and

     (e) no Default or Event of Default has occurred and is continuing under the
Loan Agreement or any other Loan Document.

     5.  Reaffirmation.  Borrower further reaffirms all of its obligations under
the Loan Agreement and the other Loan Documents,  each as previously amended and
as amended hereby.

     6. Effect on Loan  Agreement.  Except as  expressly  provided  herein,  the
execution,  delivery, and performance of this Second Amendment shall not operate
as a waiver or an amendment of any right,  power,  or remedy of the Lender under
the Loan  Agreement or any other Loan Document.  Except to the extent  expressly
amended  hereby,  the Loan  Agreement  and all  other  Loan  Documents  shall be
unaffected  hereby,  shall continue in full force and effect,  are hereby in all
respects ratified and confirmed,  and shall constitute the legal, valid, binding
and enforceable obligations of Borrower to the Lender.

     7. No Novation;  Entire Agreement.  This Second Amendment  evidences solely
the amendment of certain terms and  provisions of Borrower's  obligations  under
the Loan Agreement expressly set forth herein and is not a novation or discharge
thereof. There are no other understandings,  express or implied,  between Lender
and Borrower regarding the subject matter hereof.

     8. Choice of Law. The validity of this Second Amendment,  its construction,
interpretation and enforcement,  and the rights of the parties hereunder,  shall
be determined  under,  governed by, and construed in accordance with the laws of
The  Commonwealth  of   Massachusetts   without  regard  to  conflicts  of  laws
principles.

     9. Definitions and Construction.

     (a) Capitalized  terms used but not otherwise defined herein shall have the
respective  meanings  given  to such  terms in the Loan  Agreement,  as  amended
hereby.

     (b) Upon  and  after  the  effectiveness  of this  Second  Amendment,  each
reference in the Loan  Agreement  to "this  Agreement",  "hereunder",  "herein",
"hereof"  or words of like  import  referring  to the Loan  Agreement,  and each
reference  in the other Loan  Documents to "the Loan  Agreement",  "thereunder",
"therein",  "thereof",  or words of like import referring to the Loan Agreement,
shall mean and be a reference to the Loan Agreement as amended hereby.

     10.  Counterparts;  Telefacsimile  Execution.  This Second Amendment may be
executed  in any number of  counterparts  and by  different  parties in separate
counterparts,  each of which when so executed and delivered,  shall be deemed an
original,  and all of which,  when taken together,  shall constitute one and the
same instrument. Delivery of an executed counterpart of a signature page to this
Second  Amendment by  facsimile  shall be as effective as delivery of a manually
executed counterpart of this Second Amendment.  Any party delivering an executed
counterpart of this Second  Amendment by facsimile also shall deliver a manually
executed  counterpart  of this  Second  Amendment  but the  failure to deliver a
manually executed counterpart shall not affect the validity, enforceability, and
binding effect of this Second Amendment.

                    [Signatures appear on thefollowing page.]

<PAGE>
                                 SIGNATURE PAGE

     IN WITNESS WHEREOF,  Borrower and Lender caused this Second Amendment to be
executed as of the date first above written.

                                BORROWER:

                                HARVEY ELECTRONICS, INC.

                                By:/s/ Joseph J. Calabrese
                                   Name:  Joseph J. Calabrese
                                   Title: Executive Vice President and
                                          Chief Financial Officer

                               LENDER:

                               WEBSTER BUSINESS CREDIT CORPORATION

                               By:/s/_____________________________
                                  Name:________________________
                                  Title:_________________________

<PAGE>
                                    EXHIBIT A

                               2006 Business Plan

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