Document:

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                                                                   EXHIBIT 10.13

                                 PROMISSORY NOTE

$15,000,000.00                                               January _____, 2005

      FOR VALUE RECEIVED, ASHTON WOODS USA L.L.C., a Nevada limited liability
company (hereinafter collectively referred to as "Maker"), promises to pay to
the order of LARELNOR DEVELOPMENTS INC., an Ontario corporation (hereinafter
together with all subsequent holders hereof referred to as "Payee"), the
principal sum of FIFTEEN MILLION AND NO/100 DOLLARS ($15,000,000.00) or so much
thereof as may be outstanding hereunder, together with interest thereon at the
rate provided below. The principal of and interest on this Note shall be due and
payable in lawful money of the United States of America, at the offices of Payee
in Toronto, Ontario, or at such other place as the holder hereof may from time
to time designate by written notice to Maker.

      1.    INTEREST. This Note shall bear interest on the unpaid principal
balance hereof from day to day remaining from the date hereof until maturity at
a rate per annum equal to the lesser of (a) the maximum lawful rate or (b) three
quarters of one percent (3/4%) above the Floating Base Rate. As used herein, the
term "Floating Base Rate" means the base commercial rate of interest established
from time to time by Wachovia Bank, National Association, for short-term
unsecured loans to substantial and responsible commercial borrowers, each change
in the rate charged hereunder to become effective, without notice to Maker, on
the effective date of each change in the Floating Base Rate.

      2.    DEFAULT INTEREST. All past due principal and interest of this Note,
whether due as a result of acceleration of maturity or otherwise, shall bear
interest at the Maximum Rate from the date of maturity until paid, or if no such
rate is designated under applicable law then at an annual rate equal to eighteen
percent (18%).

      3.    PAYMENT OF NOTE. The unpaid principal sum of this Note together with
all accrued and unpaid interest shall become due and payable on demand.

      4.    PREPAYMENT. Maker may prepay this Note, in whole or in part, at any
time, or from time to time, without penalty, premium or notice. All amounts so
prepaid shall be applied first to accrued and unpaid interest then due hereon,
and thereafter to the outstanding principal balance of this Note in direct order
of maturity.

      5.    DEFAULT; ENFORCEMENT. The entire unpaid principal balance of, and
all accrued interest on, this Note shall immediately become due and payable,
without further notice or demand, at the option of the holder hereof, upon the
occurrence of any one or more of the following events of default ("Events of
Default"):

            (a)   Failure by Maker to make prompt payment of any installment of
      principal hereof or interest hereon as and when same becomes due and
      payable in accordance with the terms hereof and said failure shall
      continue for twenty (20) days after receipt of written notice of said
      failure from the holder hereof;

            (b)   Failure by Maker to keep and perform any of the covenants or
      provisions of any deed of trust, mortgage, security agreement, assignment,
      loan agreement or other agreement securing this Note or evidencing the
      loan evidenced hereby, and said failure shall continue for twenty (20)
      days after receipt of written notice of said failure from the holder
      hereof; or

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            (c)   The bankruptcy or insolvency of, the assignment for the
      benefit of creditors by, or the appointment of a receiver for any property
      of any party liable for the payment of this Note, whether as maker,
      endorser, guarantor, surety or otherwise.

      In the event any one or more of the Events of Default specified above
shall have occurred, the holder of this Note may, at its option, declare the
entire unpaid principal balance of, and accrued and unpaid interest on, this
Note to be immediately due and payable without notice or demand, foreclose all
liens and security interests securing the payment of this Note, or any part
thereof, and pursue any and all other remedies to which Payee may be entitled,
at law or in equity.

      6.    CUMULATIVE RIGHTS. No failure or delay on the part of the holder of
this Note in the exercise of any power or right under this Note or under any
other instrument securing the payment of this Note or executed pursuant hereto
shall operate as a waiver thereof, nor shall a single or partial exercise of any
other power or right preclude other or further exercise thereof or the exercise
of any other power or right. Enforcement by the holder of this Note of any
security for the payment hereof shall not constitute any election by it of
remedies so as to preclude the exercise of any other remedy available to it and
Maker shall remain liable for all amounts remaining unpaid with respect to the
principal of and interest accrued on this Note, after any application of
proceeds of any such enforcement of security.

      7.    WAIVER. Except as otherwise expressly provided herein, Maker (a)
waives demand, presentment for payment, notice of intent to accelerate, notice
of acceleration, notice of non-payment or dishonor, grace, protest, notice of
protest, all other notices, and any and all diligence or delay in collection or
the filing of suit hereon or enforcing any of the security herefor, (b) agrees
to any substitution, subordination, exchange or release of any such security or
the release of any party primarily or secondarily liable herefor, and (c) agrees
that Payee shall not be required to first institute suit or exhaust its remedies
against Maker or to enforce its rights against any security securing the
indebtedness evidenced by this Note.

      8.    NOTICES. All notices or demands required or permitted hereunder
shall be in writing, and shall be deemed to be delivered, (i) upon receipt, if
hand delivered, or (ii) whether actually received or not, upon the deposit of
both the original and the copy, as provided below, in a regularly maintained
official depository for the mail, and sent by certified or registered mail,
return receipt requested, postage prepaid, addressed as follows:

If to Payee:

3751 Victoria Park Avenue
Toronto, Ontario M1W 3Z4
Canada

If to Maker:

3751 Victoria Park Avenue
Toronto, Ontario M1W 3Z4
Canada

      Either Maker or Payee may change its respective address or addressee by
giving notice of such change to the other party in the manner provided herein.
For the purpose of changing such addresses or addressees only, unless and until
such written notice is actually received, the last address and addressee
specified for each party shall be deemed to continue in effect for all purposes.

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      9.    GOVERNING LAW AND VENUE. This Note shall be construed according to
and governed by the laws of the Province of Ontario, Canada. The obligations of
Maker under this Note are performable in the Province of Ontario, Canada.

      10.   HEADINGS. The paragraph headings of the sections of this Note are
inserted for convenience of reference only, and shall not affect the meaning or
interpretation of this Note.

      11.   LIMITATION OF INTEREST. All agreements between Maker and Payee,
whether now existing or hereafter arising and whether written or oral, are
expressly limited so that in no contingency or event whatsoever, whether by
reason of advancement of the proceeds hereof, acceleration of the maturity of
the unpaid principal balance hereof or otherwise, shall the amount contracted
for, charged, received, paid or agreed to be paid to the holder hereof for the
use, forbearance or detention of the money to be loaned hereunder or otherwise
or for the payment or performance of any covenant or obligation contained herein
or in any other document evidencing, securing or pertaining to the indebtedness
evidenced by this Note exceed the maximum amount permissible under applicable
law. In this connection, it is expressly stipulated and agreed that it is the
intent of Payee and Maker in the execution and delivery of this Note to contract
in strict compliance with applicable usury laws. If, from any circumstance
whatsoever, fulfillment of any provision hereof or any other agreement shall, at
the time fulfillment of such provision be due, involve transcending the limit of
validity prescribed by law which a court of competent jurisdiction may deem
applicable hereto, then, ipso facto, the obligation to be fulfilled shall be
reduced to the limit of such validity; and if from any circumstance the holder
hereof shall ever receive as interest an amount which would exceed the maximum
lawful rate, any amount equal to any excessive interest shall (a) be applied to
the reduction of the unpaid principal balance due hereunder and not to the
payment of interest or (b) if such excess interest exceeds the unpaid principal
balance of this Note, such excess shall be refunded to Maker. All sums
contracted for, charged or received hereunder for the use, forbearance or
detention of the indebtedness evidenced hereby shall, to the extent permitted by
applicable law, be amortized, prorated, allocated and spread throughout the full
term of this Note until payment in full so that the rate of interest on account
of such indebtedness is uniform throughout the term hereof. The terms and
provisions of this paragraph shall control and supersede every other provision
of all agreements between Maker and the holder hereof.

      12.   SUCCESSORS AND ASSIGNS. All of the covenants, stipulations, promises
and agreements contained in this Note by or on behalf of Maker shall bind
Maker's heirs, personal representatives, successors and assigns, whether so
expressed or not.

      13.   COLLECTION COSTS. If this Note is collected by legal proceeding or
through a probate or bankruptcy court, or is placed in the hands of an attorney
for collection after default (whether or not suit is filed), Maker agrees to pay
all costs of collection and/or suit, including but not limited to reasonable
attorneys' fees incurred by Payee.

      14.   UNENFORCEABILITY. The invalidity, or unenforceability in particular
circumstances, of any provision of this Note shall not extend beyond such
provision or such circumstances, and no other provision of this Note shall be
affected thereby.

      15.   SEVERAL OBLIGATIONS. Notwithstanding that this Note may be executed
by more than one entity, the obligations contained herein shall be several (and
not the joint) obligations of each entity executing this Note, and the liability
of each party hereunder shall be limited to the amount of the advances made
hereunder by Payee to such party, together with interest thereon and any other
costs and/or expenses provided herein.

      16.   PAYMENT DATES. If any payment of principal and/or interest on this
Note shall become due on a Saturday, Sunday or any other legal holiday, such
payment shall be paid on the next succeeding business day, and such extension of
time shall in such event be included in computing the amount of interest payable
in connection with such payment.

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      17.   SUBORDINATE NOTE. This Note is expressly subordinate, subject and
inferior to the indebtedness evidenced by the Promissory Notes executed by Maker
in connection with the Credit Agreement dated January 19, 2005, executed by
Borrower, Wachovia Bank, National Association, Bank of America, N.A., KeyBank,
National Association, First American Bank, Guaranty Bank, Comerica Bank,
National City Bank, U.S. Bank National Association, and Wachovia Bank, National
Association, as Agent for Banks.

      18.   REVOLVING LINE OF CREDIT. This Note evidences a portion of an
existing revolving line of credit extended by Payee to Maker and Maker
acknowledges that all or a portion of the line of credit has previously been
advanced by Payee to Maker. Maker may request advances and make payments
hereunder from time to time. The unpaid balance of this Note shall increase and
decrease with each new advance or payment hereunder, as the case may be, but in
no event shall the unpaid balance hereof exceed $15,000,000.00

      19.   FUTURE ADVANCES. A portion of the principal amount of this Note may
represent money which will be advanced to Maker in a series of advancements to
be made from time to time. At the time any such advance is made, it shall not be
necessary for Maker to execute any further notes to evidence the obligation of
Maker to pay the amount of each advance, together with interest thereon as
provided by the terms of this Note.

      IN WITNESS WHEREOF, the Maker has duly executed this Note as of the day
and year first above written.

                                       ASHTON WOODS USA L.L.C.,
                                       a Nevada limited liability company

                                       By:      ________________________________
                                                Harry Rosenbaum, Manager

                                       41st Amend to 2nd Amended & Restated Credit Agrmt

 

Exhibit 10.1

FIRST AMENDMENT TO SECOND AMENDED AND RESTATED CREDIT AGREEMENT

     THIS FIRST AMENDMENT TO SECOND AMENDED AND RESTATED CREDIT AGREEMENT (this
“Amendment”) dated as of January 31, 2006, is by and among APPLICA INCORPORATED (the
“Borrower”), a Florida corporation, each of its Subsidiaries identified on the signature
pages hereof, the Lenders identified on the signature pages hereof and BANK OF AMERICA, N.A., as
administrative agent for the Lenders (in such capacity, the “Agent”). Terms used herein but
not otherwise defined herein shall have the meanings provided to such terms in the Credit Agreement
(as hereinafter defined).

W I T N E S S E T H

     WHEREAS, the Borrower, the Subsidiaries, the Lenders and the Agent are parties to that certain
Second Amended and Restated Credit Agreement, dated as of December 23, 2005 (as further amended,
modified, supplemented, extended or restated from time to time, the “Credit Agreement”);

     WHEREAS, the parties hereto desire to amend certain terms of the Credit Agreement as set forth
in this Amendment;

     NOW, THEREFORE, IN CONSIDERATION of the premises and other good and valuable consideration,
the receipt and sufficiency of which are hereby acknowledged, the parties hereto agree as follows:

     1. The Credit Agreement is hereby amended as follows:

          (a) by amending and restating the clause in Section 3.9 of the Credit Agreement which
provides “second, to pay any fees or expense reimbursements then due to the
Lenders from the Borrower;” as follows:

     “second, to pay any fees, indemnities or expense reimbursements then
due to the Lenders from the Borrower;”

          (b) by amending and restating clause (b) of Section 7.35 of the Credit Agreement as
follows:

          (b) Not later than February 28, 2006, the Applica Asia Documents;

          (c) by amending and restating clause (d) of Section 7.35 of the Credit Agreement as
follows:

     (d) Promptly upon the Agent’s request, the execution of the Applica Americas
Blocked Account Agreement with Bank to establish the Applica
Americas Blocked Account for deposit of payments from Applica Americas
customers; and

 

 

          (d) by amending and restating the clauses (vii) and (viii) of Section 11.1(a) of the
Credit Agreement as follows:

     (vii) release any Loan Parties from their obligations under this Agreement or any of
the other Loan Documents, release any Guaranties of the Obligations, contractually
subordinate the priority of Administrative Agent’s Liens or release Collateral other than as
permitted by Section 12.11;

     (viii) amend the definition of “Required Lenders” or “Pro Rata Share”;

          (e) by amending and restating the definition of “Fixed Charge Availability
Requirements” in Annex A to the Credit Agreement as follows:

     “Fixed Charge Availability Requirements” means, for any month, (i)
Average Monthly Excess Availability for such month of not less than $13,000,000, or
(ii) on each day during such month the Aggregate Revolver Outstandings does not
exceed the lesser of the Borrowing Base on such day or the Maximum Revolver Amount
on such day.

     2. The effectiveness of this Amendment is subject to the satisfaction of each of the following
conditions (in form and substance satisfactory to the Agent):

     (a) The Agent shall have received original counterparts of this Amendment duly executed by the
Loan Parties, the Agent and the Lenders;

     (b) The Agent shall have received such additional agreements, certificates or documents
as it may reasonably request in connection with this Amendment.

     3. The Borrower and the Guarantors represent and warrant to the Agent and the Lenders that (i)
the representations and warranties of the Loan Parties set out in the Credit Agreement and in the
Security Agreement, each as amended by this Amendment, are true and correct as of the date hereof
(except those which expressly relate to an earlier period), (ii) no event has occurred and is
continuing which constitutes a Default or Event of Default and (iii) no Loan Party has any
counterclaims, offsets, credits or defenses to the Loan Documents and the performance of its
obligations thereunder, or if any Loan Party has any such claims, counterclaims, offsets, credits
or defenses to the Loan Documents or any transaction related to the Loan Documents, same are hereby
waived, relinquished and released in consideration of the Agent’s and the Lenders’ execution and
delivery of this Amendment.

     4. The Guarantors (i) acknowledge and consent to all of the terms and conditions of this
Amendment, (ii) affirm all of their obligations under the Loan Documents and (iii) agree that this
Amendment and all documents executed in connection herewith do not operate to reduce or discharge
the Guarantors’ obligations under the Credit Agreement or the other Loan Documents.

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     5. The Borrower and the Guarantors hereby represent and warrant to the Agent and the Lenders
as follows:

     (i) Each Loan Party has taken all necessary action to authorize the execution, delivery
and performance of this Amendment.

     (ii) This Amendment has been duly executed and delivered by the Loan Parties and
constitutes each of the Loan Parties’ legal, valid and binding obligations, enforceable in
accordance with its terms, except as such enforceability may be subject to (i) bankruptcy,
insolvency, reorganization, fraudulent conveyance or transfer, moratorium or similar laws
affecting creditors’ rights generally and (ii) general principles of equity (regardless of
whether such enforceability is considered in a proceeding at law or in equity).

     (iii) No consent, approval, authorization or order of, or filing, registration or
qualification with, any court or governmental authority or third party is required in
connection with the execution, delivery or performance by any Loan Party of this Amendment.

     6. Except as modified hereby, all of the terms and provisions of the Credit Agreement
(including Schedules and Exhibits), the Security Agreement (including Schedules and Exhibits) and
the other Loan Documents, and the obligations of the Loan Parties under the Credit Agreement, the
Security Agreement and the other Loan Documents, are hereby ratified and confirmed and shall remain
in full force and effect.

     7. This Amendment shall be deemed part of the Credit Agreement and a breach of any
representation, warranty or covenant herein shall constitute an Event of Default under the Credit
Agreement.

     8. This Amendment may be executed in any number of counterparts, each of which when so
executed and delivered shall be deemed an original and it shall not be necessary in making proof of
this Amendment to produce or account for more than one such counterpart.

     9. This Amendment shall be deemed to be a contract made under, and for all purposes shall be
construed in accordance with, the laws of the State of New York.

     10. To the fullest extent permitted by applicable law, the parties hereto each hereby waives
the right to trial by jury in any action, suit, counterclaim or proceeding arising out of or
related to this Amendment.

[Remainder of page intentionally left blank]

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     IN WITNESS WHEREOF, each of the parties hereto has caused a counterpart of this Amendment to
be duly executed and delivered as of the date first above written.

	 	 	 	 	 
	 	“BORROWER”

APPLICA INCORPORATED, a Florida corporation

 	 
	 	By:  	/s/ Terry Polistina
 	 
	 	 	Name:  	Terry Polistina 	 
	 	 	Title:  	Senior Vice Pres. and Chief Financial Officer 	 
	 
	 	“GUARANTORS”

APPLICA CONSUMER PRODUCTS, INC., a Florida

corporation

 	 
	 	By:  	/s/ Terry Polistina
 	 
	 	 	Name:  	Terry Polistina 	 
	 	 	Title:  	Senior Vice Pres. and Chief Financial Officer 	 
	 
	 	APPLICA CANADA CORPORATION, a

Nova Scotia corporation

 	 
	 	By:  	/s/ Lisa R. Carstarphen
 	 
	 	 	Name:  	Lisa R. Carstarphen 	 
	 	 	Title:  	Secretary 	 
	 
	 	WD DELAWARE, INC., a Delaware corporation

 	 
	 	By:  	/s/ Lisa R. Carstarphen
 	 
	 	 	Name:  	Lisa R. Carstarphen 	 
	 	 	Title:  	Secretary 	 
	 

[Signatures continued on following page]

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	 	HP INTELLECTUAL CORP., a Delaware corporation

 	 
	 	By:  	/s/ Lisa R. Carstarphen
 	 
	 	 	Name:  	Lisa R. Carstarphen 	 
	 	 	Title:  	Secretary 	 
	 
	 	WINDMERE HOLDINGS CORPORATION, a Delaware corporation

 	 
	 	By:  	/s/ Lisa R. Carstarphen
 	 
	 	 	Name:  	Lisa R. Carstarphen 	 
	 	 	Title:  	Secretary 	 
	 
	 	HP DELAWARE, INC., a Delaware corporation

 	 
	 	By:  	/s/ Lisa R. Carstarphen
 	 
	 	 	Name:  	Lisa R. Carstarphen 	 
	 	 	Title:  	Secretary 	 
	 
	 	HPG LLC, a Delaware limited liability company

 	 
	 	By:  	/s/ Lisa R. Carstarphen
 	 
	 	 	Name:  	Lisa R. Carstarphen 	 
	 	 	Title:  	Secretary 	 
	 
	 	APPLICA AMERICAS, INC., a Delaware corporation

 	 
	 	By:  	/s/ Lisa R. Carstarphen
 	 
	 	 	Name:  	Lisa R. Carstarphen 	 
	 	 	Title:  	Secretary 	 
	 
	 	APPLICA MEXICO HOLDINGS, INC.,

a Delaware corporation

 	 
	 	By:  	/s/ Lisa R. Carstarphen
 	 
	 	 	Name:  	Lisa R. Carstarphen 	 
	 	 	Title:  	Secretary 	 
	 

[Signatures continued on following page]

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	 	“AGENT”

BANK OF AMERICA, N.A., as the Agent

 	 
	 	By:  	/s/ Sherry Lail
 	 
	 	 	Name:  	Sherry Lail 	 
	 	 	Title:  	Senior Vice President 	 
	 
	 	“LENDERS”

BANK OF AMERICA, N.A., as a Lender

 	 
	 	By:  	/s/ Sherry Lail
 	 
	 	 	Name:  	Sherry Lail 	 
	 	 	Title:  	Senior Vice President 	 
	 
	 	WACHOVIA BANK, NATIONAL ASSOCIATION, as a Lender

 	 
	 	By:  	/s/ Gary Dixon
 	 
	 	 	Name:  	Gary Dixon 	 
	 	 	Title:  	Director 	 
	 
	 	GENERAL ELECTRIC CAPITAL CORPORATION, as a Lender

 	 
	 	By:  	/s/ Brian P. Schwinn
 	 
	 	 	Name:  	Brian P. Schwinn 	 
	 	 	Title:  	Duly Authorized Signatory 	 
	 

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