Document:

Exhibit 10.09

 

 

	
  Geneviève ÉCHINARD

  	
   

  
	
  Claude SÉGAUT

  	
   

  
	
  Anne-Gaël PARRY-AVRIL

  	
   

  
	
  NOTARY PARTNERSHIP

  	
   

  
	
  16, rue de Lorraine

  	
   

  
	
  21200 BEAUNE

  	
   

  

 

 

IN THE YEAR
TWO THOUSAND FOUR,

 

on the seventh
of May,

 

the
undersigned Ms. Geneviève ÉCHINARD, Esq., notary partner in the professional partnership
of “Geneviève ÉCHINARD and Claude SÉGAUT,” a licensed notary public firm in
BEAUNE (Department of Côte-d’Or) at 16, rue de Lorraine,

 

RECEIVED the
present original deed at the request of the parties named below that contains: BANK
LOAN.

 

IDENTIFICATION OF THE PARTIES

 

For the sake of
simplicity, in the following deed:

 

• the “LENDER”
shall signify the BANK named below,

 

• the “BORROWER”
shall signify the borrower or borrowers that, if there are more than one, shall
always act jointly,

 

• the “PROPERTY” shall sigify the real estate properties and rights provided
as colateral.

 

That said, in
consideration of the foregoing, the parties have entered into the agreement set
forth herein.

 

Lender

 

BNP PARIBAS
S.A., with capital of €1,807,231,208.00,(1) legally domiciled in PARIS 09 (9th
District) at 16, boulevard des Italiens, registered under SIREN number 662 042
449 in the Corporate Registry of Paris,

 

Represented by:

 

Ms. Laurence
GEORG, Notary Clerk, legally domiciled in BEAUNE (Department of Côte-d’Or) at
16, rue de Lorraine,

 

by virtue of
the powers that have been vested in her by Mr. Frédéric FOUSSAT and Mr.
Christian BERTHOUZE, in accordance with the private deed signed and dated in
DIJON on March 3, 2004, attached as an appendix hereinafter,

 

where Mr.
FOUSSAT and Mr. BERTHOUZE are officially authorized to exercise all powers of
substitution under the terms of a power of attorney dated December 4, 2003,

 

hereinafter
called the “LENDER.”

 

(1) In this document, € means “euros” (EUR).

 

 

Borrower

 

The company
named ÉTABLISSEMENTS BOURGOGNE ET GRASSET,(2) a simplified joint-stock company
with capital of €8,000,000.00, legally headquartered in SAVIGNY-LÈS-BEAUNE
(Department of Côte-d’Or), Industrial Park of BEAUNE-SAVIGNY in Champagne,
registered under SIREN number 515 720 647 in the Corporate Registry of BEAUNE,

 

said Company represented by:

 

Ms. Anne-Gaël
PARRY-AVRIL, Assistant Notary, legally domiciled in BEAUNE (Department of
Côte-d’Or) at 16, rue de Lorraine,

 

acting by
virtue of the powers vested in her by Mr. Rémi NICOLAS, Administrative and
Financial Director, legally domiciled at the headquarters of the company
ÉTABLISSEMENTS BOURGOGNE ET GRASSET, pursuant to the power of attorney dated in
BEAUNE on May 3, 2004, attached to a deed received by Ms. ÉCHINARD, Esq., this
day,

 

where Mr.
NICOLAS himself is acting by virtue of the powers vested in him by Mr. Gérard
CHARLIER residing in PARIS (6) at 6, rue Mezière, pursuant to the power of
attorney dated in BEAUNE on April 14, 2004, attached to a deed received by Ms.
ÉCHINARD, Esq., this day,

 

where Mr.
CHARLIER himself is acting in his capacity as president of said Company and is exercising
all powers for the purpose of these presents by virtue of the articles of
incorporation,

 

hereafter
in the body of the deed called the “BORROWER.”

 

The following
has been set forth and agreed:

 

At the request
of the Borrower, the Bank grants it a CODEVI(3) RESOURCES LOAN in the amount of
350,000 French francs (three hundred fifty thousand euros(4)), hereinafter
called the LOAN, subject to the specific and general conditions below:

 

LOAN BY BNP
PARIBAS

 

The “LENDER” grants to the “BORROWER,” who
accepts a loan in the amount of THREE HUNDRED FIFTY THOUSAND EUROS
(€350,000.00) for purposes of finanacing the expansion of an existing building
located in SAVIGNY-LÈS-BEAUNE in the Industrial Park of BEAUNE-SAVIGNY, to wit:

 

• a CODEVI RESOURCES LOAN of THREE
HUNDRED FIFTY THOUSAND EUROS (€350,000.00) with a repayment term of 84 months
not including the period of use, repayable in 84 monthly installments, each in
the amount of FOUR THOUSAND SEVEN HUNDRED NINETEEN EUROS AND NINETY-ONE CENTS
(€4,719.91), at a rate of 3.60% per year, the first installment due on June 7,
2004 and the last on May 7, 2011.

 

SECTION I — SPECIFIC CONDITIONS

 

CHARACTERISTICS OF THE LOAN

 

AMOUNT AND TERM OF THE LOAN:

 

Amount of the
loan: €350,000 (three hundred fifty thousand euros)

 

Term of the loan:
84 months (not including period of use)

 

OBJECT OF THE LOAN:

 

To finance an
investment program according to the information and supporting documentation
communicated beforehand to the Bank (expansion of an existing building located
in 212000 BEAUNE, Industrial Park of BEAUNE-SAVIGNY).

 

(2) Literally “Bourgogne and Grasset Companies.”

(3) Compte pour le développement
industriel, “Industrial Development Account.”

(4) Translator’s Note: the use of “francs” and “euros” in this sentence
is identical to the use in the source document.

 

2

 

LOAN-TO-VALUE RATIOS:

 

100% of the
pretax amount of the investment financed by means of the loan.

 

FORMS OF FULFILLMENT OF LOAN:

 

Subject to the
provisions of the Section “Conditions of use of the loan[”] below, the Bank
will fulfill the loan per written instructions from the Borrower and, on his
behalf, by means of an electronic transfer direct-debited from a special
account and credited to the current account of the borrower on its books.

 

Proof of
fulfillment of the Loan and of its repayment will be made by written
notification from the Bank.

 

The foregoing
provisions as well as those below provided for under the section “Conditions of
use of the loan” only constitute obligations for which the Borrower is liable, which
obligations may be waived if the Bank consents to this without the Bank
incurring any liability whatsoever toward anyone whatsoever, especially regarding
any guarantee that cannot be invoked as a defense to escape its obligation.

 

CONDITIONS OF USE OF THE LOAN

 

The Borrower
will be able to demand use of the loan only:

 

•
after having obtained a top-level mortgage registration on the real estate
property or properties listed below and after having proved via a real estate
financial statement that shows that the said real estate property or properties
is or are not the object of any sequestration or seizure, and after being free
from any registered lien, or mortgage

 

•
after putting in order guarantees in priority order if applicable and other
obligations that are listed below under the paragraph “Guarantees” of specific
conditions,

 

•
after having provided proof to the Bank that the operation has been executed by
means of the latter’s personnel up to the percentage listed in the paragraph “Loan-to-value
ratios,” pursuant to the legal and regulatory provisions as applicable,

 

•
after having submitted the invoice or invoices relating to the foregoing
financed investments upon request by the bank.

 

LOAN GUARANTEES

 

• Conventional top-priority mortgage on
a real estate property belonging to the borrower located in the Industrial Park
of BEAUNE-SAVIGNY in 21200 BEAUNE.

 

FILING FEES

 

•  €450.00 (before tax), due and paid (including
all taxes) on the date that these presents are signed to the open account in
the name of the Borrower on the books of the Bank.

 

FINANCIAL CONDITIONS

 

INTEREST

 

Fixed rate of
3.60% per year for the entire duration of the Loan.

 

REPAYMENT

 

Period of use

 

The period of
use will have a maximum term of 6 months starting from these presents and will
end on the date of the last use of the loan without it being necessary to reach
the end of the period.

 

If the loan is
not completely fulfilled at the latest by the end of the period of use defined
above, it will be reduced to the amount used, except for any extension of this
period granted by the bank.

 

During this
period, the borrower will be liable for interest deducted following the numerical
method of 360 days per year with a month of 30 days, at the rate indicated
above on the amount actually borrowed. This interest will be paid for the

 

3

 

first time on the last work day of the month
during which the first use will have taken place and then, starting from this
date every month, on the last work day at the end of each period.

 

The determination
of the amounts due for this period will be accomplished on the final date of
use.

 

Redemption period

 

Starting from
the end of the period of use, the loan will be repayable in 84 equal monthly
payments of €4,719.91, each including a part of the principal as well as the
interest calculated at the aforesaid fixed rate on the outstanding amount due
after each due date, and deducted following the numerical method of 360 days
per year with a month of 30 days.

 

The first
payment will be made one month to the day after the end of the period of use,
which will define the date of the other payments. A repayment table that
includes the repayment schedule will be provided to the borrower by the bank.

 

EFFECTIVE BLANKET RATE

 

In order to
satisfy the provisions of Sections L-313.1 ff. of the Consumer Code, the
parties specify for unique use of the Loan on the effective date of these
presents, for example, that the Effective Blanket Rate of the Loan increases
every year on the effective date of these presents by 3.841%, starting with a
monthly actuarial rate of 0.320% and calculated following the proportional
method.

 

MOBILIZATION

 

The Bank
reserves the right to mobilize funds resulting from the Loan under the
conditions provided for in Sections L.313-36 through L.313-41 of the Monetary
and Financial Code (old Sections 25 ff. of Ordinance No. 67-838 of September
28, 1967).

 

METHOD AND PLACE OF PAYMENT

 

When the due
date for an amount has arrived, the Borrower authorizes the Bank to debit the
amount necessary to settle the payable amounts on behalf of the Borrower from
the account or accounts then on its books. The present Loan is excluded from
any current account agreement.

 

All payments
to be made by virtue of these presents will take place at the BEAUNE branch of
the Bank, whose address in BEAUNE is at 26, place Carnot.

 

GUARANTEES

 

MORTGAGE
ALLOCATION

 

Under the assurance
and guarantee of repayment of the CODEVI RESOURCES LOAN and of the payment of
all interest, commissions, fees, and ancillary costs due on said loan, i.e. the
amount of THREE HUNDRED FIFTY THOUSAND EUROS (€350,000.00) of principal,

 

and generally under
the guarantee of fulfillment of all obligations that may arise for the BORROWER
of the present deed,

 

the said
BORROWER ALLOCATES AND MORTGAGES, with regard to BNP PARIBAS, as has been
accepted by its representative, the real estate defined below, as it exists and
all it includes, with all its outbuildings, all immovable property, all structures,
expansions, and improvements that may be made thereto without any exception or
reserve.

 

4

 

DEFINITION OF THE GUARANTEED PROPERTIES

 

Definition
of the property

 

Buildings for
industrial use (workshops, offices, and land) located in SAVIGNY-LÈS-BEAUNE
(Department of Côte-d’Or), Industrial Park of BEAUNE-SAVIGNY, listed in the
land registry under the following references:

 

Section AV
Number 47 at 39, ROUTE DE BEAUNE with an area of 0 ha. 30 a. 62 ca.,

Section AV
Number 58 at 41, ROUTE DE BEAUNE with an area of 0 ha. 25 a. 35 ca.,

Section AV
Number 96 at 37, ROUTE DE BEAUNE with an area of 0 ha. 02 a. 18 ca.,

Section AV
Number 113 at 37, ROUTE DE BEAUNE with an area of 0 ha. 34 a. 05 ca.,

Section AV
Number 114 at 37, ROUTE DE BEAUNE with an area of 0 ha. 05 a. 60 ca.

 

To the extent
that the said property exists, continues, and has all its easements and appurtenances
without any exception or reserve.

 

Registration
references

 

In view of the application
of the effect relative to registration in the land registry and pursuant to Article
32-2 of Decree No. 55 1350 of October 14, 1955, the parties specify that the
real estate defined above belongs to the borrower, to wit:

 

Number AV 47:

 

• Deed received by Mr. LUSSIGNY, Esq., notary
in BEAUNE, on April 20, 1988, registered with the mortgage registry of BEAUNE
on June 7, 1988, volume 6632, number 5.

 

Number AV 58:

 

• Deed received by Mr. THOMAS CROLET, notary
in CHAGNY, on October 15, 1996, registered with the mortgage registry of BEAUNE
on November 5, 1996, volume 1996 P, number 4659.

 

Number AV
96 and number AV 113:

 

•
Deed received by Ms. ÉCHINARD, Esq., notary partner in BEAUNE, on this day,
which will be registered with the mortgage registry of BEAUNE prior to or
simultaneously with these presents.

 

Number AV
114:

 

•
Deed received by Mr. THONY, Esq., notary in BESANÇON, on July 27, 1992,
registered with the mortgage registry of BEAUNE on September 9, 1992, and on
November 13, 1992, volume 1992 P, number 3631, having been the subject of a corrected
certification registered on November 13, 1992, volume 1992 P, number 4502.

 

HISTORY OF THE PROPERTY

 

The properties
defined above belong to the company ÉTABLISSEMENTS BOURGOGNE ET GRASSET, to
wit:

 

Number AV
47:

 

For the asset acquired
from Mr. Michel GAUDILLÈRE, divorced husband of Ms. Jeanne GIRAL, residing in
BEAUNE (Department of Côte-d’Or) at 6, place au Beurre, the deed having been
received by Mr. LUSSIGNY, Esq., notary in BEAUNE, on April 20, 1988,

 

this
acquisition took place for the principal price of ƒ300,000(5) paid in cash and is
documented in the deed by means of a loan granted by Société Lyonnaise de
Banque.(6)

 

(5) In this document, ƒ means “French francs” (FRF).

(6) Literally, “Lyons Bank Corporation.”

 

5

 

A copy of this
deed was registered with the registry of mortgages of BEAUNE on June 7, 1988,
volume 6632, number 5.

 

Previously, it belonged to Mr.
GAUDILLÈRE as an asset which was acquired along with a larger plot from
SYNDICAT MIXTE D’AMÉNAGEMENT DE LA RÉGION BEAUNOISE(7) (SYMAB), legally
domiciled in BEAUNE, City Hall, this deed having been received by Mr. LUSSIGNY,
Esq., on February 19, 1976.

 

This
acquisition took place for a price paid in cash and documented in the deed.

 

Prior to this, the plot belonged to
SYMAB by virtue of an expropriation order for public use issued by Mr.
DOUVRELEUR, presiding judge of the Court of Expropriation, dated September 19,
1968, after completing the formalities required by law and pursuant to an order
by the Prefect of the Department of Côte-d’Or, dated May 30, 1968, to develop a
BEAUNE-SAVIGNY industrial park, from Mr. Édouard Alfred KRUCH, printer, and Ms.
Marie-Berthe GEBHART, his wife, residing together in SÉLESTAT (Department of
Bas-Rhin) on rue d’Orchwille.

 

This order was
published pursuant to the law, notice thereof was given to Mr. and Mrs. KRUCH
by registered letter with return receipt dated October 16, 1968, and registered
with the registry of mortgages of BEAUNE on January 22, 1969, volume 4004,
number 9.

 

This deed
having been received by Mr. LUSSIGNY, Esq., on February 20, 1969, Mr. and Mrs.
KRUCH declared that they would comply with the expropriation order and
consented in aid of SYMAB and of Société Bourguignonne d’Équipement Urbain
SAEM,(8) legally domiciled in DIJON, at the mayor’s office, in support of which
the parcels were declared assignable under the terms of the expropriation
order, of all abandonments and removals of property, on condition that the
conditions are fulfilled and compensation is paid.

 

The
compensation for expropriation was set at the amount of 594,000 francs, of
which 297,000 francs were paid in cash by Société Bourguignonne d’Équipement
Urbain, and 148,500 francs that had been stipulated payable on May 31,
1969, were paid by the same Company on June 20, 1969, everything as indicated
in the bookkeeping of Mr. LUSSIGNY, Esq.

 

With regard to
the latter fraction of 148,500 francs, it was stipulated payable on September
30, 1969, in the Offices of Mr. LUSSIGNY, Esq.

 

With regard to
this deed, Mr. CARRIER, acting in his capacity as president of SYMAB, declared
that he would cede the entirety of the property that had been the object of the
expropriation and of the foregoing compliance back to Société Bourguignonne d’Équipement
Urbain, as well as the entirety of the payments made or to be made under this
transaction that must be made by Société Bourguignonne d’Équipement Urbain,
which subsequently became the sole proprietor of the entirety of the real
estate at issue.

 

This act of
compliance containing the retrocession was recorded but was not the object of
any registration with the registry of mortgages.

 

• And according to the deed received by
Mr. LUSSIGNY, Esq. on September 26, 1969, subsequent to different modifications
made in the construction projects in the industrial park, Société Bourguignonne
d’Équipement Urbain and SYMAB declared that they would purely and simply
terminate the retrocession stipulated in the deed of February 20, 1969, such
that the expropriation order undertaken for the benefit of SYMAB remains valid
and that the entirety of the property becomes the property of SYMAB again.

 

This new
retrocession was granted under all conditions of the expropriation order, and
SYMAB personally assumed the liability for the last payment date due to Mr. and
Mrs. KRUCH.

 

Like the
preceding deed, this deed was recorded but was not the object of any
registration with the registry of mortgages of BEAUNE.

 

(7) Literally, “Joint Development Association of the Beaune Region.”

(8) Literally, “Burgundy Urban Public Works Public-Private Limited
Liability Company.”

 

6

 

The last fraction
of 148,000 francs of the expropriation compensation, which was due on September
30, 1969, was paid to Mr. and Mrs. KRUCH on October 21, 1969.

 

Number AV
58:

 

For the asset
acquired from the company SCI VINISA, legally domiciled in BEAUNE in the
BEAUNE-SAVIGNY Industrial Park, the deed having been received by Mr. THOMAS
CROLET, Esq., notary in CHAGNY, along with Ms. ÉCHINARD, Esq., notary partner
in BEAUNE, on October 15, 1996.

 

This
acquisition took place for the principal price of ƒ550,000 paid in cash and
documented in the deed.

 

A copy of this
deed was registered with the registry of mortgages of BEAUNE on November 5,
1996, volume 1996 P, number 4659.

 

Previously, it belonged to SCI VINISA
subsequent to the acquisition that it had made under the terms of a deed
received by Mr. LAMY, Esq., notary in CHAGNY, on January 31, 1985, from the
company MAISONS PHÉNIX S.A., legally domiciled in PARIS (8th District) at 5–7
avenue Percier.

 

A copy of this
deed was registered with the registry of mortgages of BEAUNE on April 9, 1985,
volume 6193, number 3.

 

Prior to that

 

The parties
expressly waived the requirement that the undersigned Notary list the prior
ownership, declaring that they want to refer to the information contained in
the deeds analyzed above.

 

Number AV
96 and Number AV 113:

 

For the assets
acquired from the company SICOMAX in the context of a building lease loan
agreement granted by the company BATICAL, the deed having been received by Ms.
ÉCHINARD, Esq., notary partner in BEAUNE, on this day, for a price paid in cash
and documented in the deed.

 

A copy of this
deed will be registered with the registry of mortgages of BEAUNE prior to or
simultaneously with these presents.

 

Previously,

 

it belonged to
SICOMAX subsequent to the investment that had been made in it by the company
BATICENTREST S.A.S.,(9) with capital of ƒ378,353,600 or €57,679,634, legally
domiciled in PARIS (8th District) at 29, rue Monceau, the deed having been
privately signed in PARIS on May 23, 2001, approved on July 10, 2001, filed in
the records of Mr. JACQUIN, Esq., notary in PARIS, the deed of July 26, 2001
having been registered with the registry of mortgages of BEAUNE.

 

Prior to that, it belonged to
BATICENTREST subsequent to the investment made in it by the company BATICAL Société
Immobilière pour le Commerce et l’Industrie S.A.,(10) legally headquartered in
NANCY (Department of Meurthe-et-Moselle) at 109, boulevard d’Haussonville, the
deed having been privately signed in PARIS on December 14, 2000, approved on
December 14, 2000, filed in the records of Ms. Dorothée BONTOUX, Esq., notary
in PARIS, on April 6, 2001, registered with the registry of mortgages of BEAUNE
on May 18, 2001, volume 2001 P, number 2442.

 

Prior again to that, it belonged to
BATICAL, to wit:

 

•
The parcel surveyed and registered as Section AV Number 113:

 

This parcel is
the result of the division of the parcel surveyed and registered as Section AV
Number 97, previously surveyed and registered as A Number 733, the latter
resulting from the division of the parcel surveyed and registered as Section A
Number 622.

 

(9) Simplified joint-stock corporation.

(10) Literally “BATICAL Real Commercial and Industrial Property
Simplified Joint-Stock Corporation.”

 

7

 

Subsequent to
the acquisition from Syndicat Mixte d’Aménagement de la Région Beaunoise
(SYMAB) when it was surveyed and registered under Section A Number 622, under
the terms of a deed received by Mr. PRÉLOT, Esq., notary in BEAUNE, on February
13, 1978, registered with the registry of mortgages of BEAUNE on February 21,
1978, volume 5073, number 11.

 

•
The parcel surveyed and registered as Section AV Number 96:

 

Subsequent to
a deed of exchange between it and the company LA GRANDE CHAMPAGNE when it was
surveyed and registered under Section A Number 730 under the terms of a deed
received by Mr. SÉGAUT, Esq., notary in BEAUNE, and Mr. THONY, notary in
BESANÇON, on December 13, 18, and 29, 1989, registered with the registry of
mortgages of BEAUNE on February 27 and April 12, 1990, volume 1990 P, number
854, having been the object of a corrected certification registered on April
12, 1990, volume 1990 P, number 1521.

 

Prior again to that

 

The parties
expressly waive the requirement that the undersigned notary list here the prior
ownership of the property, declaring that they want to refer to that which is contained
in the deeds analyzed above.

 

Number AV
114:

 

For the asset
acquired from the company BATICAL-SICOMI, legally domiciled in NANCY at 109,
boulevard d’Haussonville, the deed having been received by Mr. THONY, Esq.,
notary in BESANÇON, on July 27, 1992.

 

This
acquisition took place for the principal price of ƒ14,240.80 paid in cash and
documented in the deed.

 

A copy of this
deed was registered with the registry of mortgages of BEAUNE on September 9,
1992, and on November 13, 1992, volume 1992 P, number 3631, having been the
object of a corrected certification registered on November 13, 1992, volume
1992 P, number 4502.

 

Prior to that, it belonged to the
company BATICAL, to wit:

 

• One part subsequent to the
acquisition from Syndicat Mixte d’Aménagement de la Région Beaunoise (SYMAB)
under the terms of a deed received by Mr. PRÉLOT, notary in BEAUNE, on February
13, 1978, registered with the registry of mortgages of BEAUNE on February 21,
1978, volume 5073, number 11.

 

• One part subsequent to a certificate
of exchange between it and the company LA GRANDE CHAMPAGNE under the terms of a
deed received by Mr. SÉGAUT, notary in BEAUNE, and Mr. THONY, notary in
BESANÇON, on December 31, 18, and 29, 1989, registered with the registry of
mortgages of BEAUNE on February 27 and April 12, 1990, volume 1990 P, number
864, having been the object of a corrected certification registered on April
12, 1990, volume 1990 P, number 1521.

 

Prior again to that

 

The parties
expressly waive the requirement that the undersigned notary list here the prior
ownership of the property, declaring that they will to refer to that which is contained
in the deeds analyzed above.

 

REGISTRATIONS

 

Term
of registrations

 

By express
agreement between the parties and pursuant to Section 2154 of the Civil Code, a
conventional mortgage registration to be applicable by virtue of these presents
for the benefit of the LENDER will be in force until the expiration of a period
of two years starting from the final payment date of the loan, to wit:

 

8

 

Conventional
mortgage registration

 

as security
for the CODEVI RESOURCES LOAN for an amount of THREE HUNDRED FIFTY THOUSAND
EUROS (€350,000.00).

 

In effect
until May 7, 2013.

 

INSURANCE

 

Fire
insurance

 

The “BORROWER” must insure the building that is the object of the
loan, as well as any other building offered as collateral, against fire for an
amount at least equal to their value with an officially authorized Company.

 

To this end,
the borrower specifies that the properties have been insured, to wit:

 

	
  COMPANY

  	
  ZURICH

  
	
  Office

  	
  HENRY 22, rue Gandelot 21200 BEAUNE

  
	
   

  	
   

  
	
  Policy number

  	
  08597100 Z

  

 

SECTION II — GENERAL CONDITIONS

 

ARTICLE – BORROWER DECLARATIONS

 

On the date of
these presents, the borrower declares and guarantees:

 

•
that it is an officially incorporated company, that it has the authority to
legitimately conclude the present agreement and to fulfill all obligations that
arise therefrom, specifically that its signature, and if applicable the
signature of the guarantors, were duly authorized in the legally and/or statutorily
required manner.

 

•
that the commitments arising from these presents, if applicable from the assurances
pertaining thereto, do not conflict in any way with any obligation, any
contractual provision, any regulation, or other [obligation] that may be
applicable thereto or that may encumber it.

 

•
that the financial documents submitted to the bank for the needs of these
presents are exact, that they were drawn up following the best accounting
practices in France and that they provide a faithful picture of its assets, its
liabilities, and its earnings for each tax year.

 

•
that there has been no event, specifically of a legal, financial, or commercial
nature that, as of the closing date of its last tax year, is likely to have a
disadvantageous effect with regard to its business activity, its property, its
economic situation, or its profitability and that was not brought to the
attention of the bank prior to the conclusion of these presents.

 

•
that no instance, action, trial, or administrative procedure is under way or,
to the best of its knowledge, is not on the verge of being initiated, to
prohibit or impede the signature or fulfillment of these presents or that may
have significant disadvantageous consequences on its business activity, its
assets, or on its financial situation.

 

•
that its assets have been legitimately insured for a value at least equal to
their reconstruction and/or replacement cost with an insurance company known to
be solvent.

 

•
that it is up to date in its payments with regard to its salaried employees,
tax administration, social security, and child allowances.

 

9

 

ARTICLE – NOTIFICATIONS TO BE
MADE TO THE BANK

 

For the entire
duration of the fulfillment of these presents, the borrower will have to:

 

• submit
to the bank, as soon as they have been drawn up and no later than three months
from the close of each tax year, the certified copies of its annual financial
statements, profit and loss statements, as well as all documents required by
law or by applicable regulation, accompanied by the reports by the external
auditors.

 

•
submit to the bank, no later than three months from the close of each tax year,
the copy of its tax packages, certified by its manager,

 

•
address to the bank, as soon as they have been drawn up, the minutes of its
ordinary and/or extraordinary meetings, as well as all documents relating to
its future management plans.

 

•
inform the bank within a maximum period of fifteen calendar days from the
constituent event, of all legal actions that involve it as well as of any event
which may diminish the economic or legal value of the guarantees that it has
been or will be possible to give the bank or to significantly affect the value
of its property or increase the size of its liabilities toward third parties or
to otherwise seriously affect its ability to repay the loan,

 

• to
communicate to the bank, upon first request by it, all information regarding
its economic, accounting, financial, or legal situation that the bank may reasonably
demand,

 

• to
inform the bank of all projects relating to a significant change in its shareholders,
specifically resulting in giving control to a new Company or a new group,

 

• to
inform the bank immediately of any facts, events, or circumstances which may
constitute any one of the cases listed above under the section “Anticipated
liabilities.”

 

ARTICLE –
BORROWER OBLIGATIONS

 

Inasmuch as
the Borrower will be liable as a debtor by virtue of these presents, it will
not be possible without at least prior written approval by the Bank:

 

• to dispose of, mortgage, remit for
payment of the debt, lease, or assign all or part of its real property to a
third party,

 

• to dispose of, remit to collateral, or
leave to management any commercial funds or the material dependent thereon,
where this prohibition implies, with regard to the new material likely to be
dependent on the funds, a prohibition on remission to collateral under terms of
Sections L-525.1 ff. of the New Commercial Code,

 

• to contract the debts whose cumulative
liabilities together with its current loans may risk exceeding its ability to
repay,

 

• to do anything whatsoever that may
change the value of all properties used as security, if applicable to change
their nature or their purpose, or to rent them out. However, in the event the
Bank has given authorization to rent them out, the Borrower is prohibited from
granting any receipt or cession of rent not due unless this relates to rent
paid in advance, based on usage, as charged for the last three or sixth months
of use,

 

all of the
foregoing being subject to the application of the penalties in the section “Anticipated
liabilities.”

 

ARTICLE –
ADDITIONAL OBLIGATIONS OF THE BORROWER

 

Similarly, for
the entire duration of the fulfillment of these presents, the borrower is
obligated, without having received the prior agreement from the bank:

 

•
not to surrender all or part of its assets except in the context of its normal
ongoing management,

 

•
not to carry out transactions of any type whatsoever with companies or
enterprises that are under its control as defined by Section L 233-3 of the
Commercial Code (previous Section 355-1 of the Act of July 24, 1966), which
have not been fulfilled under the normal conditions of a contract.

 

10

 

ARTICLE – PREPAYMENT

 

The Borrower may
prepay the present Loan in whole or in part at any time, and a partial prepayment
will have to be at least equal to 10% of the initial amount of the loan unless
it does not relate to its outstanding balance, and subject to advance notice of
one month by registered letter with return receipt to the branch of the Bank
where the present Loan is handled.

 

The Bank will
thus collect a payable amount on the day that the prepayment takes effect
corresponding to two months of interest per remaining year  of the loan at the date of prepayment,
calculated at the original contract rate on the amount of said prepayment.

 

As jointly
agreed, this amount will be determined based on the following formula:

 

(m / 12)  ́ (i / 12)  ́ 2  ́ RA

 

where m = the number of remaining months at
the date of prepayment

 

where i = the annual interest rate on the original
loan (if applicable, including group insurance)

 

where RA = the outstanding principal due on
the date of prepayment if this is a total prepayment or if the amount prepaid constitutes
a partial prepayment.

 

A minimum amount collected is set at €320.00.

 

Any prepayment will be considered to be final
and cannot be applied to new uses. Furthermore, any partial prepayment will be
deducted from the most distant due date.

 

ARTICLE –
ANTICIPATED LIABILITIES

 

The entirety
of the amounts due in principal, interest, fees, and ancillary fees for these
presents will become payable immediately, and it will not be possible make any
other claims from the bank in case of legal liquidation, cessation of business
activity by the borrower, as well as in all cases of forfeiture of the term
provided for by law.

 

Similarly, no
use can be reclaimed from the Bank and/or the Bank can call in the Loan early,
fifteen days after notification of the Borrower by registered letter with
return receipt without need for any legal formality in any one of the following
cases:

 

• in case of nonpayment of any payable amount
by the due date,

 

• in case of seriously reprehensible
behavior by the Borrower, for example in the event that its situation proves to
be irreparably compromised as defined by Section L.313-12 of the Monetary and
Financial Code,

 

• in the event that any one of the
declarations made by the Borrower under the terms of these presents or any
written certification by an authorized representative of the Borrower for the
purposes of these presents is revealed to have been inaccurate at the time it
was made or reiterated or ceases to be accurate at a substantive point in time,

 

• in case of merger, split, out-of-court
liquidation or dissolution of the Borrower,

 

• in the event that the Borrower’s
enterprise is assigned in the context of out-of-court or collective
proceedings,

 

• in the event that the legal status of
the Borrower or its business purpose changes, or if it moves its legal domicile
outside of metropolitan(11) France, without the agreement of the Bank,

 

• in the event that the interest and
commissions on the Loan become subject to a levy or a tax of any kind to which
they are not currently subject, unless the Borrower pays this tax such that
there is nothing for the Bank to incur with regard to this,

 

• if payment of an amount due by the
Borrower to any entity whatsoever is not made on time, specifically payment of
contributions, taxes, social insurance contributions, and others and that may
incur obviously harmful consequences on the proper repayment of the Loan,

 

(11) The expression “metropolitan France” refers to all integral territories
of France, including all overseas departments.

 

11

 

• in the event that the nature,
capacity, or property of the Borrower, as well as its legal, financial,
industrial, or commercial structure are substantively changed without express
approval by the Bank,

 

• in case of an imposition of a fine on
the Borrower or on one of the Guarantors, declared to the Bank of France,

 

• in case of noncompliance, fraudulent
declaration, or nonfulfillment by the Borrower, by one of the Guarantors, or by
any other guarantor concerning any obligation incumbent on them under the terms
of the present deed or under any guarantee or amendment that is a result  or consequence thereof,

 

• in the event that, for any reason whatsoever,
the Bank is unable to legitimately register the conventional mortgage on each
of the properties defined above as agreed to above, without any constraint,

 

• in case of seizure, out-of-court or
court-ordered sale, or transfer of property in any manner whatsoever, regardless
of the building or of any one of the properties mortgaged above, as well as in
case of total or partial destruction of the said properties by fire.

 

The amounts
that have thereby become payable as well as any amount that has not been paid
on its normal or prepayment date and all fees and outlays that will be advanced
by the Bank under the present Loan will all incur interest calculated at the initially
applicable rate of the Loan, increasing by 3% per year.

 

This
stipulation cannot prejudice the current liabilities that have arisen and, as a
result, cannot be considered to constitute an agreement to delay the payment.
The interest will be compounded if it is due for a whole year, pursuant to
Section 1154 of the Civil Code.

 

ARTICLE – INSURANCE OF THE MORTGAGED PROPERTY OR PROPERTIES

 

To the extent
that the borrower is a debtor by virtue of these presents, the above buildings
as well as the immovable property used as collateral must be insured against all
insurable risk of destruction for an amount equal to their reconstruction value
or their replacement cost or their monetary value.

 

This amount
must be increased if the bank so requests, specifically to avoid risks that may
result from applying the proportional rule. If there is no agreement, the
amount will be determined by experts.

 

The borrower
is obligated for the duration of these presents to provide annual proof to the
bank of the existence of such insurance as well as of the payment of the
premiums or contributions pertaining thereto and to notify the latter in the
event that the policy insuring these physical elements is cancelled.

 

If these
various obligations are not fulfilled, the bank may, at its discretion, either
insure the mortgaged properties itself up to the established amount with one or
several companies of its choosing at the expense of the borrower or take action
against the latter as described in the section “Anticipated liability.”

 

Notice of
these presents will be provided to the insurance company by registered letter
with return receipt for purposes of opposition as provided in paragraph 2 of
Section L 121-13 of the Insurance Code by the editing notary.

 

In his or her
capacity as a preferred creditor pursuant to the provisions of paragraph 1 of
Section L 121-13 cited above, the bank will enjoy the rights of the borrower regarding
insurance-related indemnities with respect to this insurance company.

 

In the event
of total or partial damage, the amounts due from the company under the terms of
the aforesaid policy will as of now be awarded to the bank, which will be able
to collect them without the help and without the presence of the borrower up to
its debt in terms of principal, interest, fees, and ancillary fees, based on
the evaluation it presents.

 

If the bank has
collected too much, the borrower will have recourse against it, but it will not
have any recourse against the company that has been legitimately released by
the payments rendered under the conditions provided for above.

 

12

 

ARTICLE –
COMMUNICATION

 

All
notifications, communications, or requests that must be made in fulfillment of
these presents must be made by mail.

 

Under certain
circumstances and on express request by the borrower, the bank may accept communications
or requests made by telephone, telex, or fax on condition that they are
confirmed by mail.

 

All
communications or requests that must be made and all documents that must be delivered
by one of the parties to the other in fulfillment of these presents will be
made and delivered:

 

• concerning
the borrower, to: the company ÉTABLISSEMENTS BOURGOGNE ET GRASSET, address ZI(12)
BEAUNE-SAVIGNY / 21420 SAVIGNY-LÈS-BEAUNE,

 

• concerning
the bank, to: BNP PARIBAS Agence(13) BEAUNE 26, place Carnot 21200 BEAUNE.

 

ARTICLE –
MISCELLANEOUS FEES AND DUES THAT ARE THE RESPONSIBILITY OF THE BORROWER

 

The Borrower
will incur all fees, rights (rights of registration, stamp fees, etc.) and
professional fees relating to the present deed as well as to the arrangements
of the guarantees, if applicable, and to their renewal, and to providing
information to the creditors, if applicable, and, in general, to all individuals
or entities that are related to the present deed or that are the result or consequence
thereof, including all advances for registration fees for established
guarantees, as well as the remunerations and fees that may be due for changes
that may be made to these presents.

 

Furthermore,
all dues or taxes of any kind, present or future, on the interest or principal
amounts that may be due by the Borrower will be its responsibility, including
those for which the Bank is the lawful debtor.

 

In the event
that the Bank provides a court order or allotment to recover its claim, it will
have the right to a fixed indemnity set at 3% on the amount claimed.

 

ARTICLE - ALLOCATION OF PAYMENTS 

 

By expressed convention, it is
agreed and  accepted by the Borrower that
any partial payment will be charged in order of priority against expenses and
secondary costs, then against allowances, then againsgt post-maturity interest,
then comissions, then against conventional interest, lastly against the
principal.

 

ARTICLE – GUARANTEES – NOVATION

 

The guarantees
granted do not in any way whatsoever prejudice the rights and actions of the
Bank, and they cannot in any way whatsoever affect the nature and scope of all
obligations and all real or personal guarantees that have been or will be
provided or contracted either by the Borrower or by any third parties, but they
are in addition to these.

 

ARTICLE –
CESSION, TRANSFER OF RIGHTS

 

The borrower
may not cede or transfer any right or obligation that results from these
presents without the prior written approval of the bank.

 

The bank may
cede or transfer all or part of its rights and obligations with regard to the
present agreement to any bank or credit institution of its choice.

 

ARTICLE –
EXERCISE OF RIGHTS – RENUNCIATION

 

All rights
conferred upon the Bank or upon the Borrower by these presents or by any other
document delivered in fulfillment or as a result of these presents, such as
rights arising under law, are cumulative and may be exercised at any time.

 

The fact that
the Bank or the Borrower has not exercised a right or delays in exercising it
can never be considered to be a renunciation of this right, and the exercise of
a any one right or its partial exercise cannot impede the Bank or the Borrower
from exercising it again or in the future or from exercising any other right.

 

ARTICLE – INFORMATIONAL
PRIVACY AND RIGHTS – AUTHORIZATION TO COMMUNICATE INFORMATION

 

It is
obligatory that personal information collected in the present deed be provided.
It will be the subject of outside communications only for purposes of
management necessities or to satisfy legal or regulatory

 

(12) Zone industrielle, “Industrial
Park.”

(13) “Branch.”

 

13

 

obligations. They may give rise to the
exercise of rights for access and correction under the conditions of Act No.
78-17 of January 6, 1978, relating to Data Processing, Computer Files, and
Rights, by letter addressed to Centre de Relation Clients(14) BNP PARIBAS GSC
OFFRCA 1 75540 PARIS CÉDÉX 09.

 

The Borrower
as well as the Guarantor, if applicable, expressly authorize the Bank to
communicate information concerning them to service providers involved in the
handling of transactions relating to these presents, specifically to all third
parties responsible for recovery or to any company of the BNP PARIBAS group in the
event that resources are shared with mutual security companies or financial
guarantee or refinancing institutions that are involved in this transaction, as
well as with their directly authorized representatives to which these
institutions may have recourse, specifically to monitor and collect the loan
that is the object of these presents. Furthermore, they may be used for
commercial bids.

 

FEES

 

All fees, dues,
and professional fees of these presents and their effects, including the cost of
executory copies for the “LENDER,” and,
if applicable, the cost for all registration renewals, will be paid for and
covered by the “BORROWER,” which is thus
obligated.

 

POWERS

 

In order to
carry out the formalities of property registration, the parties, each acting in
their common interest, assign all necessary powers to any clerk of the notary
office specified at the start of these presents for the purpose of drawing up
and signing all additional or corrected deeds so as to bring the present deed
into conformity with the mortgage, land registry, or public records documents.

 

CHOICE OF LEGAL DOMICILE

 

To fulfill
these presents and their effects, the following legal domiciles have been
chosen:

 

• for the BORROWER: its legal domicile,

 

• for the LENDER: its branch in BEAUNE.

 

The parties
expressly grant competence to the court in the jurisdiction in which the branch
that is managing the transaction is located.

 

Especially
with regard to the formalities of property registration and others and the
return of the documents, the parties choose the legal domicile at the notary
office of the undersigned notary.

 

IN WITNESS WHEREOF

Including:

• Pages: 14

• References: 0

• White marked out: 0

• Whole line marked out: 0

• Deleted numbers: 0

• Deleted words: 0

 

And after these
presents have been read, the parties certified, each with regard to that which
involves it, the declarations included in the present deed to be accurate, and
the undersigned notary then gathered the signatures of the parties and signed
him or herself.

 

DONE in the
office of the undersigned notary, on the aforesaid day in the aforesaid month
in the aforesaid year.

 

	
   

  	
  [signature]

  	
  [signature]

  	
  REGISTRATION FEE

  PAID: €75.00

  
	
   

  	
   

  	
   

  
	
  [signature]

  	
   

  	
   

  

 

(14) “Customer Relations
Center.”

 

14

 

 

POWER OF ATTORNEY

 

(Signature of Loan Documents)

 

BNP PARIBAS S.A. with capital of
€1,790,347,678, legally domiciled in Paris at 16, boulevard des Italiens,
registered in the Commercial and Corporate Registry of Paris under number B 662
042 449, said Banque Nationale de Paris (BNP) represented by:

 

Mr. Frédéric FOUSSAT     and     Mr.
Christian BERTHOUZE

 

duly authorized for this purpose, with the
power of substitution, under the terms of a power of attorney dated

 

December 4, 2003,

 

hereby establishes by means these presents in
favor of its authorized representative, Ms. GEORG, notary clerk to whom it
gives authority, in its favor and on its behalf:

 

To agree to a deed that will shortly be
signed before:

 

	
   

  	
   

  	
  Appended to the record of a deed received
  by the undersigned notary partner on May 7, 2004.

  
	
   

  	
  Ms. ÉCHINARD, Esq.

  
	
   

  	
  Notary

  
	
   

  	
  16, rue de Lorraine

  
	
   

  	
  21200 BEAUNE

  	
   

  
	
   

  	
   

  	
   

  
	
  under the terms of which:

  	
  SOCIÉTÉ BOURGOGNE ET GRASSET

  	
  [signature]

  
	
   

  	
  ZI BEAUNE-SAVIGNY

  	
   

  
	
   

  	
  21420 SAVIGNY-LÈS-BEAUNE

  	
   

  

 

acknowledge(s) that they are (it is) a debtor
of BNP PARIBAS for an amount of:

 

€350,000.00 (three hundred fifty thousand euros)

 

whose purpose it is to finance:

 

To set all clauses and conditions, especially
those relating to the repayment and the remuneration of the loan.

 

To provide and request all proofs, to request
and accept all movable and immovable guarantees, especially all mortgage
allocations, all securities for all business, all top-level lender priorities,
all subrogations in the seller’s priority, to consent to any cession of
precedence, to accept any stipulation of preference.

 

To call for the fulfillment of all
formalities, to endorse and sign all deeds, registries, and documents of any
time, to choose legal domicile, and to generally do that which is necessary.

 

Done at DIJON, March 3, 2004

 

Signed

 

	
   

  	
  Mr. Frédéric FOUSSAT

  	
   

  	
  Mr. Christian BERTHOUZE

  
	
   

  	
   

  	
   

  
	
   

  	
  [signature]

  	
   

  	
  [signature]

  	
   

  
	
   

  	
   

  	
   

  	
  (ST 704)

  
							

 

BNP PARIBAS S.A., with capital of
€1,806,343,230 – Headquarters: 16, boulevard des Italiens / 75009 Paris

 

Registered under no. 662 042 449 Registry of
Corporations of Paris – CE Identifier FR 76662042449 • 3615 BNP PARIBAS •
www.bnpparibas.com

 

 

	
  

  	
  REPAYMENT PLAN

  

 

	
  BRANCH:
  BEAUNE

  	
   

  
	
   

  	
   

  
	
  26, place
  Carnot

  	
   

  
	
  21200 BEAUNE

  	
  00412
  00413

  
	
   

  	
  ÉTABLISSEMENTS

  
	
  Tel.: 0 820
  82 00 01

  	
  BOURGOGNE
  ET GRASSET

  
	
  Fax: 03 80
  25 04 45

  	
   

  
	
   

  	
  BEAUNE-SAVIGNY

  
	
   

  	
  INDUSTRIAL
  PARK

  
	
  Headquarters

  	
   

  
	
  Branch
  BEAUNE (00413)

  	
  21200
  BEAUNE

  
	
   

  	
   

  
	
  Account:
  00413 00060561671

  	
   

  

 

May 18, 2004

 

Subject:
Reallocation of your loan, outstanding term: 84 MONTHS

 

	
  LOAN CHARACTERISTICS

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  CODEVI
  RESOURCES LOAN

  	
  LOAN AMOUNT:

  	
  350,000.00

  	
  EUR

  	
  MONTHLY
  AMORTIZATION

  
	
  CURRENT
  NOMINAL RATE: 3.600%

  	
  DEBT DUE:

  	
  350,000.00

  	
  EUR

  	
  AT END OF
  PERIOD

  
	
   

  	
  EQUIVALENT
  IN FRF (1):

  	
  2,295,849.50

  	
  FRF

  	
   

  
	
  RATE TYPE:
  FIXED RATE

  	
  OUTSTANDING
  TERM:

  	
  84 MONTHS

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  

 

	
  DATE

  	
   

  	
  DEDUCTION

  AMOUNT

  	
   

  	
  INTEREST

  	
   

  	
  INSURANCE

  	
   

  	
  DEBT

  RECOVERED

  	
   

  	
  CHARGES

  REPORTED

  	
   

  	
  REMAINING

  CAPITAL OF

  	
   

  	
  BANK

  LIABILITY

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  7 JUN 2004

  	
   

  	
  4,719.91

  	
   

  	
  1,050.00

  	
   

  	
  0.00

  	
   

  	
  3,669.91

  	
   

  	
  0.00

  	
   

  	
  348,330.09

  	
   

  	
  348,330.09

  	
   

  
	
  7 JUL 2004

  	
   

  	
  4,719.91

  	
   

  	
  1,038.98

  	
   

  	
  0.00

  	
   

  	
  3,680.92

  	
   

  	
  0.00

  	
   

  	
  342,649.17

  	
   

  	
  342,649.17

  	
   

  
	
  7 AUG 2004

  	
   

  	
  4,719.91

  	
   

  	
  1,027.95

  	
   

  	
  0.00

  	
   

  	
  3,691.96

  	
   

  	
  0.00

  	
   

  	
  338,957.21

  	
   

  	
  338,957.21

  	
   

  
	
  7 AUG 2004

  	
   

  	
  4,719.91

  	
   

  	
  1,016.87

  	
   

  	
  0.00

  	
   

  	
  3,703.04

  	
   

  	
  0.00

  	
   

  	
  335,254.17

  	
   

  	
  335,254.17

  	
   

  
	
  7 OCT 2004

  	
   

  	
  4,719.91

  	
   

  	
  1,005.76

  	
   

  	
  0.00

  	
   

  	
  3,714.15

  	
   

  	
  0.00

  	
   

  	
  331,540.02

  	
   

  	
  331,540.02

  	
   

  
	
  7 NOV 2004

  	
   

  	
  4,719.91

  	
   

  	
  994.62

  	
   

  	
  0.00

  	
   

  	
  3,725.29

  	
   

  	
  0.00

  	
   

  	
  327,814.73

  	
   

  	
  321,814.73

  	
   

  
	
  7 DEC 2004

  	
   

  	
  4,719.91

  	
   

  	
  963.44

  	
   

  	
  0.00

  	
   

  	
  3,736.47

  	
   

  	
  0.00

  	
   

  	
  324,078.25

  	
   

  	
  324,078.25

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  ANNUAL FINANCE CHARGES IN EUROS 

  	
   

  	
  7,117.63

  	
   

  
	
  FOR INFORMATION, EQUIVALENT IN FRANCS (1)

  	
   

  	
  46,688.59

  	
   

  

 

	
  DATE

  	
   

  	
  DEDUCTION

  AMOUNT

  	
   

  	
  INTEREST

  	
   

  	
  INSURANCE

  	
   

  	
  DEBT

  RECOVERED

  	
   

  	
  CHARGES

  REPORTED

  	
   

  	
  REMAINING

  CAPITAL OF

  	
   

  	
  BANK

  LIABILITY

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  7 JAN 2005

  	
   

  	
  4,719.91

  	
   

  	
  972.23

  	
   

  	
  0.00

  	
   

  	
  3,747.68

  	
   

  	
  0.00

  	
   

  	
  320,330.58

  	
   

  	
  320,330.58

  	
   

  
	
  7 FEB 2005

  	
   

  	
  4,719.91

  	
   

  	
  960.99

  	
   

  	
  0.00

  	
   

  	
  3,758.92

  	
   

  	
  0.00

  	
   

  	
  316,571.68

  	
   

  	
  316,571.68

  	
   

  
	
  7 MAR 2005

  	
   

  	
  4,719.91

  	
   

  	
  949.71

  	
   

  	
  0.00

  	
   

  	
  3,770.20

  	
   

  	
  0.00

  	
   

  	
  312,801.46

  	
   

  	
  312,801.46

  	
   

  
	
  7 APR 2005

  	
   

  	
  4,719.91

  	
   

  	
  938.40

  	
   

  	
  0.00

  	
   

  	
  3,781.51

  	
   

  	
  0.00

  	
   

  	
  309,019.95

  	
   

  	
  309,019.95

  	
   

  

 

(1) For
information purposes, based on ƒ6.55957 francs per €1.

 

	
  0801269

  	
   

  	
  GCEP1

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  BNP PARIBAS S.A., with capital of €1,806,343,230 – Headquarters: 16,
  boulevard des Italiens / 75009 Paris

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  Registered under no. 662 042 449 Registry of Corporations of Paris –
  CE Identifier FR 76662042449 • 3615 BNP PARIBAS • www.bnpparibas.com

  

 

1

 

	
  DATE

  	
   

  	
  DEDUCTION

  AMOUNT

  	
   

  	
  INTEREST

  	
   

  	
  INSURANCE

  	
   

  	
  DEBT

  RECOVERED

  	
   

  	
  CHARGES

  REPORTED

  	
   

  	
  REMAINING

  CAPITAL OF

  	
   

  	
  BANK

  LIABILITY

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  7 MAY 2005

  	
   

  	
  4,719.91

  	
   

  	
  927.06

  	
   

  	
  0.00

  	
   

  	
  3,792.85

  	
   

  	
  0.00

  	
   

  	
  305,227.10

  	
   

  	
  305,227.10

  	
   

  
	
  7 JUN 2005

  	
   

  	
  4,719.91

  	
   

  	
  915.68

  	
   

  	
  0,00

  	
   

  	
  3,804.23

  	
   

  	
  0.00

  	
   

  	
  301.422,87

  	
   

  	
  301,422.87

  	
   

  
	
  7 JUL 2005

  	
   

  	
  4,719.91

  	
   

  	
  904.27

  	
   

  	
  0.00

  	
   

  	
  3,815.84

  	
   

  	
  0.00

  	
   

  	
  297,607.23

  	
   

  	
  297,607.23

  	
   

  
	
  7 AUG 2005

  	
   

  	
  4,719.91

  	
   

  	
  892.82

  	
   

  	
  0.00

  	
   

  	
  3,827.09

  	
   

  	
  0.00

  	
   

  	
  293,780.14

  	
   

  	
  293,780.14

  	
   

  
	
  7 SEP 2005

  	
   

  	
  4,719.91

  	
   

  	
  881.34

  	
   

  	
  0.00

  	
   

  	
  3,838.57

  	
   

  	
  0.00

  	
   

  	
  289,941.57

  	
   

  	
  280,941.57

  	
   

  
	
  7 OCT 2005

  	
   

  	
  4,719.91

  	
   

  	
  868.82

  	
   

  	
  0.00

  	
   

  	
  3,850.08

  	
   

  	
  0.00

  	
   

  	
  286,091.48

  	
   

  	
  286,091.48

  	
   

  
	
  7 NOV 2005

  	
   

  	
  4,719.91

  	
   

  	
  858.27

  	
   

  	
  0.00

  	
   

  	
  3,801.64

  	
   

  	
  0.00

  	
   

  	
  282,229.84

  	
   

  	
  282,229.84

  	
   

  
	
  7 DEC 2005

  	
   

  	
  4,719.91

  	
   

  	
  846.69

  	
   

  	
  0.00

  	
   

  	
  3,873.22

  	
   

  	
  0.00

  	
   

  	
  278,356.62

  	
   

  	
  278,356.62

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  ANNUAL FINANCE CHARGES IN EUROS

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  10,917.28

  	
   

  
	
  FOR INFORMATION, EQUIVALENT IN FRANCS (1)

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  71,612.66

  	
   

  

 

	
  DATE

  	
   

  	
  DEDUCTION

  AMOUNT

  	
   

  	
  INTEREST

  	
   

  	
  INSURANCE

  	
   

  	
  DEBT

  RECOVERED

  	
   

  	
  CHARGES

  REPORTED

  	
   

  	
  REMAINING

  CAPITAL OF

  	
   

  	
  BANK

  LIABILITY

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  7 JAN 2006

  	
   

  	
  4,719.91

  	
   

  	
  835.07

  	
   

  	
  0.00

  	
   

  	
  3,884.84

  	
   

  	
  0.00

  	
   

  	
  274,471.78

  	
   

  	
  274,471.78

  	
   

  
	
  7 FEB 2006

  	
   

  	
  4,719.91

  	
   

  	
  823.42

  	
   

  	
  0.00

  	
   

  	
  3,896.49

  	
   

  	
  0.00

  	
   

  	
  270,575.29

  	
   

  	
  270,575.29

  	
   

  
	
  7 MAR 2006

  	
   

  	
  4,719.91

  	
   

  	
  811.73

  	
   

  	
  0.00

  	
   

  	
  3,908.18

  	
   

  	
  0,00

  	
   

  	
  266,667.11

  	
   

  	
  266,667.11

  	
   

  
	
  7 APR 2006

  	
   

  	
  4,719.91

  	
   

  	
  800.00

  	
   

  	
  0.00

  	
   

  	
  3,919.91

  	
   

  	
  0.00

  	
   

  	
  262,747.20

  	
   

  	
  262,747.20

  	
   

  
	
  7 MAY 2006

  	
   

  	
  4,719.91

  	
   

  	
  788.24

  	
   

  	
  0.00

  	
   

  	
  3,931.67

  	
   

  	
  0.00

  	
   

  	
  258,815.53

  	
   

  	
  258,815.53

  	
   

  
	
  7 JUN 2006

  	
   

  	
  4,719.91

  	
   

  	
  776.45

  	
   

  	
  0.00

  	
   

  	
  3,943.46

  	
   

  	
  0.00

  	
   

  	
  254,872.07

  	
   

  	
  254,872.07

  	
   

  
	
  7 JUL 2006

  	
   

  	
  4,719.91

  	
   

  	
  764.62

  	
   

  	
  0.00

  	
   

  	
  3,955.29

  	
   

  	
  0.00

  	
   

  	
  250,916.78

  	
   

  	
  250,916,78

  	
   

  
	
  7 AUG 2006

  	
   

  	
  4,719.91

  	
   

  	
  752.75

  	
   

  	
  0,00

  	
   

  	
  3,967.16

  	
   

  	
  0.00

  	
   

  	
  246,949.62

  	
   

  	
  246,949.62

  	
   

  
	
  7 SEP 2006

  	
   

  	
  4,719.91

  	
   

  	
  740.65

  	
   

  	
  0.00

  	
   

  	
  3,979.06

  	
   

  	
  0.00

  	
   

  	
  242,970.56

  	
   

  	
  242,970.56

  	
   

  
	
  7 OCT 2006

  	
   

  	
  4,719,91

  	
   

  	
  728.91

  	
   

  	
  0.00

  	
   

  	
  3,991.00

  	
   

  	
  0.00

  	
   

  	
  238,979.56

  	
   

  	
  238,979.56

  	
   

  
	
  7 NOV 2006

  	
   

  	
  4,719.91

  	
   

  	
  716.94

  	
   

  	
  0.00

  	
   

  	
  4,002.97

  	
   

  	
  0.00

  	
   

  	
  234,976.59

  	
   

  	
  234,976.59

  	
   

  
	
  7 DEC 2006

  	
   

  	
  4,719.91

  	
   

  	
  704.93

  	
   

  	
  0,00

  	
   

  	
  4,014.98

  	
   

  	
  0.00

  	
   

  	
  230,961.61

  	
   

  	
  230,961.61

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  ANNUAL FINANCE CHARGES IN EUROS

  	
   

  	
  9,243.91 

  	
   

  
	
  FOR INFORMATION, EQUIVALENT IN FRANCS (1)

  	
   

  	
  50,535.07

  	
   

  

 

	
  DATE

  	
   

  	
  DEDUCTION

  AMOUNT

  	
   

  	
  INTEREST

  	
   

  	
  INSURANCE

  	
   

  	
  DEBT

  RECOVERED

  	
   

  	
  CHARGES

  REPORTED

  	
   

  	
  REMAINING

  CAPITAL OF

  	
   

  	
  BANK

  LIABILITY

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  7 JAN 2007

  	
   

  	
  4,719.91

  	
   

  	
  692.65

  	
   

  	
  0.00

  	
   

  	
  4,027.03

  	
   

  	
  0.00

  	
   

  	
  226,934.58

  	
   

  	
  226,934.58

  	
   

  
	
  7 FEB 2007

  	
   

  	
  4,719.91

  	
   

  	
  680.80

  	
   

  	
  0.00

  	
   

  	
  4,039.11

  	
   

  	
  0.00

  	
   

  	
  222,895.47

  	
   

  	
  222,895.47

  	
   

  
	
  7 MAR 2007

  	
   

  	
  4,719.91

  	
   

  	
  668.69

  	
   

  	
  0.00

  	
   

  	
  4,051.22

  	
   

  	
  0.00

  	
   

  	
  218,844.25

  	
   

  	
  218,844.25

  	
   

  

 

(1) For
information purposes, based on ƒ6.55957 francs per €1.

 

2

 

	
  DATE

  	
   

  	
  DEDUCTION

  AMOUNT

  	
   

  	
  INTEREST

  	
   

  	
  INSURANCE

  	
   

  	
  DEBT

  RECOVERED

  	
   

  	
  CHARGES

  REPORTED

  	
   

  	
  REMAINING

  CAPITAL OF

  	
   

  	
  BANK

  LIABILITY

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  7 APR 2007

  	
   

  	
  4,719.91

  	
   

  	
  856.53

  	
   

  	
  0.00

  	
   

  	
  4,063.38

  	
   

  	
  0,00

  	
   

  	
  214,780.87

  	
   

  	
  214,780.87

  	
   

  
	
  7 MAY 2007

  	
   

  	
  4,719.91

  	
   

  	
  644.54

  	
   

  	
  0.00

  	
   

  	
  4,075.57

  	
   

  	
  0.00

  	
   

  	
  210,705.30

  	
   

  	
  210,705.30

  	
   

  
	
  7 JUN 2007

  	
   

  	
  4,719.91

  	
   

  	
  632.12

  	
   

  	
  0.00

  	
   

  	
  4,087.79

  	
   

  	
  0.00

  	
   

  	
  206,617.51

  	
   

  	
  206,617.51

  	
   

  
	
  7 JUL 2007

  	
   

  	
  4,719.91

  	
   

  	
  619.85

  	
   

  	
  0.00

  	
   

  	
  4,100.06

  	
   

  	
  0.00

  	
   

  	
  202,517.45

  	
   

  	
  202,517.45

  	
   

  
	
  7 AUG 2007

  	
   

  	
  4,719.91

  	
   

  	
  607.55

  	
   

  	
  0.00

  	
   

  	
  4,112.36

  	
   

  	
  0.00

  	
   

  	
  190,405.09

  	
   

  	
  196,405.09

  	
   

  
	
  7 SEP2007

  	
   

  	
  4,719.91

  	
   

  	
  595.22

  	
   

  	
  0.00

  	
   

  	
  4,124.69

  	
   

  	
  0,00

  	
   

  	
  194,280.40

  	
   

  	
  194,280.40

  	
   

  
	
  7 OCT 2007

  	
   

  	
  4,719.91

  	
   

  	
  582.84

  	
   

  	
  0.00

  	
   

  	
  4,137.07

  	
   

  	
  0.00

  	
   

  	
  190,143.33

  	
   

  	
  190,143.30

  	
   

  
	
  7 NOV 2007

  	
   

  	
  4,719.91

  	
   

  	
  570.43

  	
   

  	
  0.00

  	
   

  	
  4,149.48

  	
   

  	
  0.00

  	
   

  	
  185,993.85

  	
   

  	
  185,993.85

  	
   

  
	
  7 DEC 2007

  	
   

  	
  4,719.91

  	
   

  	
  557.98

  	
   

  	
  0.00

  	
   

  	
  4,161.93

  	
   

  	
  0.00

  	
   

  	
  181,891.92

  	
   

  	
  181,831.92

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  ANNUAL FINANCE CHARGES IN EUROS

  	
   

  	
  7,509.23

  	
   

  
	
  FOR INFORMATION, EQUIVALENT IN FRANCS (1)

  	
   

  	
  49,257.32

  	
   

  

 

	
  DATE

  	
   

  	
  DEDUCTION

  AMOUNT

  	
   

  	
  INTEREST

  	
   

  	
  INSURANCE

  	
   

  	
  DEBT

  RECOVERED

  	
   

  	
  CHARGES

  REPORTED

  	
   

  	
  REMAINING

  CAPITAL OF

  	
   

  	
  BANK

  LIABILITY

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  7 JAN 2008

  	
   

  	
  4,719.91

  	
   

  	
  545.50

  	
   

  	
  0.00

  	
   

  	
  4,174.41

  	
   

  	
  0.00

  	
   

  	
  177,657.51

  	
   

  	
  177,657.51

  	
   

  
	
  7 FEB 2008

  	
   

  	
  4,719.91

  	
   

  	
  532.97

  	
   

  	
  0.00

  	
   

  	
  4,186.94

  	
   

  	
  0.00

  	
   

  	
  173,470.57

  	
   

  	
  173,470.57

  	
   

  
	
  7 MAR 2008

  	
   

  	
  4,719.91

  	
   

  	
  520.41

  	
   

  	
  0.00

  	
   

  	
  4,199.50

  	
   

  	
  0.00

  	
   

  	
  169,271.07

  	
   

  	
  169,271.07

  	
   

  
	
  7 APR 2008

  	
   

  	
  4,719.91

  	
   

  	
  507.81

  	
   

  	
  0.00

  	
   

  	
  4,212.10

  	
   

  	
  0.00

  	
   

  	
  165,058.97

  	
   

  	
  155,058.97

  	
   

  
	
  7 MAY 2008

  	
   

  	
  4,719.91

  	
   

  	
  495.18

  	
   

  	
  0.00

  	
   

  	
  4,224.73

  	
   

  	
  0.00

  	
   

  	
  160,834.24

  	
   

  	
  160,834.24

  	
   

  
	
  7 JUN 2008

  	
   

  	
  4,719.91

  	
   

  	
  482.50

  	
   

  	
  0.00

  	
   

  	
  4,237.41

  	
   

  	
  0.00

  	
   

  	
  156,596.83

  	
   

  	
  156,596.83

  	
   

  
	
  7 JUL 2008

  	
   

  	
  4,719.91

  	
   

  	
  469.79

  	
   

  	
  0.00

  	
   

  	
  4,250.12

  	
   

  	
  0.00

  	
   

  	
  152,346.71

  	
   

  	
  152,346.71

  	
   

  
	
  7 AUG 2008

  	
   

  	
  4,719.91

  	
   

  	
  457.04

  	
   

  	
  0.00

  	
   

  	
  4,252.87

  	
   

  	
  0.00

  	
   

  	
  148,083.64

  	
   

  	
  148,083.64

  	
   

  
	
  7 SEP 2008

  	
   

  	
  4,719.91

  	
   

  	
  444.25

  	
   

  	
  0.00

  	
   

  	
  4,275.66

  	
   

  	
  0.00

  	
   

  	
  143,808.18

  	
   

  	
  143,808.18

  	
   

  
	
  7 OCT 2008

  	
   

  	
  4,719.91

  	
   

  	
  431.42

  	
   

  	
  0.00

  	
   

  	
  4,288.49

  	
   

  	
  0.00

  	
   

  	
  139,519.69

  	
   

  	
  139,519.69

  	
   

  
	
  7 NOV 2008

  	
   

  	
  4,719.91

  	
   

  	
  416.56

  	
   

  	
  0.00

  	
   

  	
  4,301.35

  	
   

  	
  0.00

  	
   

  	
  135,218.34

  	
   

  	
  135,218.34

  	
   

  
	
  7 DEC 2008

  	
   

  	
  4,719.91

  	
   

  	
  405.66

  	
   

  	
  0.00

  	
   

  	
  4,314.25

  	
   

  	
  0.00

  	
   

  	
  130,904.09

  	
   

  	
  130,904.09

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  ANNUAL FINANCE CHARGES IN EUROS

  	
   

  	
  5,711.09 

  	
   

  
	
  FOR INFORMATION, EQUIVALENT IN FRANCS (1)

  	
   

  	
  37,452.29

  	
   

  

 

	
  DATE

  	
   

  	
  DEDUCTION

  AMOUNT

  	
   

  	
  INTEREST

  	
   

  	
  INSURANCE

  	
   

  	
  DEBT

  RECOVERED

  	
   

  	
  CHARGES

  REPORTED

  	
   

  	
  REMAINING

  CAPITAL OF

  	
   

  	
  BANK

  LIABILITY

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  7 JAN 2009

  	
   

  	
  4,719.91

  	
   

  	
  392,71

  	
   

  	
  0,00

  	
   

  	
  4,327.20

  	
   

  	
  0.00

  	
   

  	
  126,576.89

  	
   

  	
  126,576.89

  	
   

  
	
  7 FEB 2009

  	
   

  	
  4,719.91

  	
   

  	
  379.73

  	
   

  	
  0.00

  	
   

  	
  4,340.18

  	
   

  	
  0.00

  	
   

  	
  122,236.71

  	
   

  	
  122,236.71

  	
   

  

 

(1) For
information purposes, based on ƒ6.55957 francs per €1.

 

3

 

	
  DATE

  	
   

  	
  DEDUCTION

  AMOUNT

  	
   

  	
  INTEREST

  	
   

  	
  INSURANCE

  	
   

  	
  DEBT

  RECOVERED

  	
   

  	
  CHARGES

  REPORTED

  	
   

  	
  REMAINING

  CAPITAL OF

  	
   

  	
  BANK

  LIABILITY

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  7 MAR 2009

  	
   

  	
  4,719.91

  	
   

  	
  366.71

  	
   

  	
  0.00

  	
   

  	
  4,353.20

  	
   

  	
  0.00

  	
   

  	
  117,883.51

  	
   

  	
  117,883.51

  	
   

  
	
  7 APR 2009

  	
   

  	
  4,719.91

  	
   

  	
  353.65

  	
   

  	
  0.00

  	
   

  	
  4,366.26

  	
   

  	
  0.00

  	
   

  	
  113,517.25

  	
   

  	
  113,517.25

  	
   

  
	
  7 MAY 2009

  	
   

  	
  4,719.91

  	
   

  	
  340.55

  	
   

  	
  0.00

  	
   

  	
  4,379.36

  	
   

  	
  0.00

  	
   

  	
  109,137.89

  	
   

  	
  109,137.89

  	
   

  
	
  7 JUN 2009

  	
   

  	
  4,719.91

  	
   

  	
  327.41

  	
   

  	
  0.00

  	
   

  	
  4,392.50

  	
   

  	
  0.00

  	
   

  	
  104,745.39

  	
   

  	
  104,745.39

  	
   

  
	
  7 JUL 2009

  	
   

  	
  4,719.91

  	
   

  	
  314.24

  	
   

  	
  0.00

  	
   

  	
  4,405.67

  	
   

  	
  0.00

  	
   

  	
  100,339.72

  	
   

  	
  100,339.72

  	
   

  
	
  7 AUG 2009

  	
   

  	
  4,719.91

  	
   

  	
  301.02

  	
   

  	
  0.00

  	
   

  	
  4,418.89

  	
   

  	
  0.00

  	
   

  	
  95,920.83

  	
   

  	
  95,920.83

  	
   

  
	
  7 SEP 2009

  	
   

  	
  4,719.91

  	
   

  	
  287.76

  	
   

  	
  0.00

  	
   

  	
  4,432.15

  	
   

  	
  0.00

  	
   

  	
  91,488.68

  	
   

  	
  91,488.68

  	
   

  
	
  7 OCT 2009

  	
   

  	
  4,719.91

  	
   

  	
  274.47

  	
   

  	
  0.00

  	
   

  	
  4,445.44

  	
   

  	
  0.00

  	
   

  	
  87,043.24

  	
   

  	
  87,043.24

  	
   

  
	
  7 NOV 2009

  	
   

  	
  4,719.91

  	
   

  	
  261.13

  	
   

  	
  0.00

  	
   

  	
  4,456.78

  	
   

  	
  0.00

  	
   

  	
  82,584.48

  	
   

  	
  82,584.48

  	
   

  
	
  7 DEC 2009

  	
   

  	
  4,719.91

  	
   

  	
  247.75

  	
   

  	
  0.00

  	
   

  	
  4,472.16

  	
   

  	
  0.00

  	
   

  	
  78,112.30

  	
   

  	
  78,112.30

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  ANNUAL FINANCE CHARGES IN EUROS

  	
   

  	
  3,847.13

  	
   

  
	
  FOR INFORMATION, EQUIVALENT IN FRANCS (1)

  	
   

  	
  25,235.52

  	
   

  

 

	
  DATE

  	
   

  	
  DEDUCTION

  AMOUNT

  	
   

  	
  INTEREST

  	
   

  	
  INSURANCE

  	
   

  	
  DEBT

  RECOVERED

  	
   

  	
  CHARGES

  REPORTED

  	
   

  	
  REMAINING

  CAPITAL OF

  	
   

  	
  BANK

  LIABILITY

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  7 JAN 2010

  	
   

  	
  4,719.91

  	
   

  	
  234.34

  	
   

  	
  0.00

  	
   

  	
  4,485.57

  	
   

  	
  0.00

  	
   

  	
  73,626.73

  	
   

  	
  73,626.73

  	
   

  
	
  7 FEB 2010

  	
   

  	
  4,719.91

  	
   

  	
  220.68

  	
   

  	
  0.00

  	
   

  	
  4,499.03

  	
   

  	
  0.00

  	
   

  	
  69,127.70

  	
   

  	
  69,127.70

  	
   

  
	
  7 MAR 2010

  	
   

  	
  4,719.91

  	
   

  	
  207.38

  	
   

  	
  0.00

  	
   

  	
  4,512.53

  	
   

  	
  0.00

  	
   

  	
  64,615.17

  	
   

  	
  64,615.17

  	
   

  
	
  7 APR 2010

  	
   

  	
  4,719.91

  	
   

  	
  193.85

  	
   

  	
  0.00

  	
   

  	
  4,526.06

  	
   

  	
  0.00

  	
   

  	
  60,089.11

  	
   

  	
  60,089.11

  	
   

  
	
  7 MAY 2010

  	
   

  	
  4,719.91

  	
   

  	
  180.27

  	
   

  	
  0.00

  	
   

  	
  4,539.64

  	
   

  	
  0.00

  	
   

  	
  55,549.47

  	
   

  	
  55,549.47

  	
   

  
	
  7 JUN 2010

  	
   

  	
  4,719.91

  	
   

  	
  166.65

  	
   

  	
  0.00

  	
   

  	
  4,553.26

  	
   

  	
  0.00

  	
   

  	
  50,996.21

  	
   

  	
  50,996.21

  	
   

  
	
  7 JUL 2010

  	
   

  	
  4,719.91

  	
   

  	
  152.99

  	
   

  	
  0.00

  	
   

  	
  4,566.92

  	
   

  	
  0.00

  	
   

  	
  46,429.29

  	
   

  	
  46,429.29

  	
   

  
	
  7 AUG 2010

  	
   

  	
  4,719.91

  	
   

  	
  139.29

  	
   

  	
  0.00

  	
   

  	
  4,580.62

  	
   

  	
  0.00

  	
   

  	
  41,848.67

  	
   

  	
  41,848.67

  	
   

  
	
  7 SEP 2010

  	
   

  	
  4,719.91

  	
   

  	
  125.55

  	
   

  	
  0.00

  	
   

  	
  4,584.30

  	
   

  	
  0.00

  	
   

  	
  37,254.31

  	
   

  	
  37,254.31

  	
   

  
	
  7 OCT 2010

  	
   

  	
  4,719.91

  	
   

  	
  111.76

  	
   

  	
  0.00

  	
   

  	
  4,606.15

  	
   

  	
  0.00

  	
   

  	
  32,646.16

  	
   

  	
  32,646.16

  	
   

  
	
  7 NOV 2010

  	
   

  	
  4,719.91

  	
   

  	
  97.94

  	
   

  	
  0.00

  	
   

  	
  4,621.97

  	
   

  	
  0.00

  	
   

  	
  28,024.19

  	
   

  	
  28,024.19

  	
   

  
	
  7 DEC 2010

  	
   

  	
  4,719.91

  	
   

  	
  84.07

  	
   

  	
  0.00

  	
   

  	
  4,635.84

  	
   

  	
  0.00

  	
   

  	
  23,388.35

  	
   

  	
  23,388.35

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  ANNUAL FINANCE CHARGES IN EUROS

  	
   

  	
  1,914.97

  	
   

  
	
  FOR INFORMATION, EQUIVALENT IN FRANCS (1)

  	
   

  	
  12,581.38

  	
   

  

 

	
  DATE

  	
   

  	
  DEDUCTION

  AMOUNT

  	
   

  	
  INTEREST

  	
   

  	
  INSURANCE

  	
   

  	
  DEBT

  RECOVERED

  	
   

  	
  CHARGES

  REPORTED

  	
   

  	
  REMAINING

  CAPITAL OF

  	
   

  	
  BANK

  LIABILITY

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  7 JAN 2011

  	
   

  	
  4,719.91

  	
   

  	
  70.17

  	
   

  	
  0.00

  	
   

  	
  4,649.74

  	
   

  	
  0.00

  	
   

  	
  18,738.61

  	
   

  	
  18,738.61

  	
   

  

 

(1) For
information purposes, based on ƒ6.55957 francs per €1.

 

4

 

	
  DATE

  	
   

  	
  DEDUCTION

  AMOUNT

  	
   

  	
  INTEREST

  	
   

  	
  INSURANCE

  	
   

  	
  DEBT

  RECOVERED

  	
   

  	
  CHARGES

  REPORTED

  	
   

  	
  REMAINING

  CAPITAL OF

  	
   

  	
  BANK

  LIABILITY

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  7 FEB 2011

  	
   

  	
  4,719.91

  	
   

  	
  56.22

  	
   

  	
  0.00

  	
   

  	
  4,663.69

  	
   

  	
  0.00

  	
   

  	
  14,074.92

  	
   

  	
  14,074.92

  	
   

  
	
  7 MAR 2011

  	
   

  	
  4,719.91

  	
   

  	
  42.22

  	
   

  	
  0.00

  	
   

  	
  4,677.69

  	
   

  	
  0.00

  	
   

  	
  9,397.23

  	
   

  	
  9,397.23

  	
   

  
	
  7 APR 2011

  	
   

  	
  4,719.91

  	
   

  	
  28.19

  	
   

  	
  0.00

  	
   

  	
  4,691.72

  	
   

  	
  0.00

  	
   

  	
  4,705.51

  	
   

  	
  4,705.51

  	
   

  
	
  7 MAY 2011

  	
   

  	
  4,719.91

  	
   

  	
  14.40

  	
   

  	
  0.00

  	
   

  	
  4,705.51

  	
   

  	
  0.00

  	
   

  	
  0.00

  	
   

  	
  0.00

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  ANNUAL FINANCE CHARGES IN EUROS

  	
   

  	
  211.20

  	
   

  
	
  FOR INFORMATION, EQUIVALENT IN FRANCS (1)

  	
   

  	
  1,385.38

  	
   

  

 

(1) For
information purposes, based on ƒ6.55957 francs per €1.

 

5Exhibit
10.17

 

AMENDMENT
NO. 2 TO EMPLOYMENT AGREEMENT

This Amendment No.
2 to Employment Agreement dated as of December 16, 2004, (this “Amendment”) is
entered into with reference to the Employment Agreement dated as of November 8,
2000, between Hard Rock Hotel, Inc., a Nevada corporation (the “Company”), and
James D. Bowen, an individual (“Executive”) (as amended by an Amendment No. 1
dated September 7, 2001, the “Agreement”). 
The Company and Executive hereby agree as follows:

1.               Definitions. 
Capitalized terms used herein are used with the meanings set forth for
those terms in the Employment Agreement.

2.               Termination for No Cause. 
Section 7.5 of the Employment Agreement is hereby amended to read in
full as follows:

In
addition to the right to terminate this Agreement pursuant to Sections 7.1, 7.2
and 7.3 of this Agreement, the Company shall have the right to terminate this
Agreement and Executive’s employment hereunder for any other reason or for no
reason.  In the event that the Company
terminates this Agreement and Executive’s employment hereunder pursuant to this
Section 7.5, the Company shall give ten (10) days prior written notice to
Executive and pay a lump sum termination fee to Executive in an amount equal to
the greater of (i) Three-Hundred and Twenty-Five Thousand Dollars ($325,000.00)
or (ii) twelve (12) months of the Executive’s base salary rate immediately
prior to such termination plus an amount equal to the average of the
immediately preceding three (3) year’s annual bonuses paid to Executive.  In addition, Executive shall be provided
medical, hospitalization, dental, vision, pharmacy and term group life
insurances, at no cost to Executive for a term of twelve (12) months after any
termination.  In addition, Executive
shall be entitled to be paid any amounts deferred or owed under any deferred
compensation plan and be entitled to be paid at a minimum a pro-rata share of
any amounts that would have otherwise been due to executive under any deferred
bonus plan.

  Additionally, in the event of a Change in
Control of the Company and if within thirty (30) days after the Change in
Control the Executive tenders his resignation in conformity with Article 7.3 of
the Agreement, Executive shall be entitled to be paid a lump sum termination
fee to Executive in an amount equal to the greater of (i) Six-Hundred and Fifty
Thousand Dollars ($650,000.00) or (ii) twenty-four (24) months of the Executive’s
base salary rate immediately prior to such termination plus an amount equal to
two (2) times the average of the immediately preceding three (3) year’s annual
bonuses paid to Executive.  Executive
shall also be provided medical, hospitalization, dental, vision, pharmacy and
term group life insurances, at no cost to Executive for a term of twenty-four
(24) months after any termination.  In
addition, Executive shall be entitled to be paid any amounts deferred or owed
under any deferred compensation plan and be paid at a minimum a pro-rata share
of any amounts that would have otherwise been due to executive under any
deferred bonus plan.  A Change in Control
of the Company shall mean a change in control of a nature that would be
required to be reported in response to Item 403(c) of Regulation S-K; provided
that, without limitation, such a change in control shall not be deemed to have
occurred if Peter Morton is the beneficial owner as defined in Rule 13d-3 under
the Exchange Act, directly or indirectly, of securities of the Company
representing 51% or more of the combined voting power of the Company’s then
outstanding securities.

3.               Confirmation. 
In all other respects, the terms of the Employment Agreement are hereby
confirmed.

 

 

IN WITNESS WHEREOF, the
parties hereto have caused this Amendment to be duly executed as of the date
hereinabove set forth.

	
  COMPANY:

  	
   

  	
  EXECUTIVE:

  
	
   

  	
   

  	
   

  
	
  Hard Rock Hotel,
  Inc., a Nevada corporation

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  By: 

  	
  /s/ Peter A.
  Morton

  	
   

  	
  /s/ James D. Bowen

  
	
   

  	
  Peter A. Morton,
  President

  	
   

  	
  James D. Bowen

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00082-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00082-of-00352.parquet"}]]