SEC Contract Filing

Filing Date: 2020-05-15

Document Content:
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<TYPE>EX-10.67
<SEQUENCE>2
<FILENAME>ex10_67.htm
<DESCRIPTION>EXHIBIT 10.67
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">Exhibit 10.67</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>PROMISSORY NOTE THIRD AMENDMENT AGREEMENT</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">THIS PROMISSORY NOTE
THIRD AMENDMENT AGREEMENT (this &ldquo;Agreement&rdquo;) is entered into as of the 20th day of March 2020 by and between Uniroyal
Global Engineered Products, Inc., a Nevada corporation (the &ldquo;Company&rdquo;), and Howard R. Curd, an individual residing
at 1111 Ritz Carlton Drive, Apartment 1703, Sarasota, Florida 34236 (&ldquo;Lender&rdquo;).</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">WHEREAS, the Company
issued a Senior Secured Promissory Note dated December 31, 2014 to Lender in the aggregate principal amount of One Million Four
Hundred Seventy Thousand Fifty-Seven and 27/100 Dollars ($1,470,057.27) (the &ldquo;Note&rdquo;), any capitalized terms not defined
in this Agreement having the meanings set forth in the Note; and</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">WHEREAS, Lender holds
the Note; and</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">WHEREAS, the principal
balance of the Note as of March 20, 2020 is $765,654.83; and</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">WHEREAS, the Company
and the Lender entered into a Promissory Note Amendment Agreement dated October 1, 2017 (the &ldquo;First Amendment&rdquo;), whereby
the Lender agreed to the Company&rsquo;s deferral until October 1, 2018 of principal payments with quarterly principal payments
in the amount of $153,130.97 plus accrued interest starting October 1, 2018; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">WHEREAS, the Company
and the Lender entered into a Promissory Note Second Amendment Agreement dated December 15, 2018 (the &ldquo;Second Amendment&rdquo;),
whereby the date for principal payments of the $765,654.83 note that were due to start on October 1, 2018 were deferred to a single
payment due on January 15, 2021; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">WHEREAS, the Company
desires to amend the Note on the terms set forth in this Third Amendment Agreement;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">NOW THEREFORE, in consideration
of the premises and the terms of this Agreement and other good and valuable consideration, the receipt and sufficiency of which
are hereby acknowledged, the parties hereby agree as follows:</P>

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<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">1.</TD><TD STYLE="text-align: justify">Section 2 of the Note is hereby amended by adding at the end the following sentence:, all other
terms of the Note continuing unchanged:</TD></TR></TABLE>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">Lender agrees to the Company&rsquo;s
deferral of principal payments, but not interest. Borrower shall pay accrued interest on or before April 15, 2020 and before the
fifteenth day of each calendar quarter thereafter. The principal is due in a single payment together with accrued interest on January
15, 2022.</P>

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<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">2.</TD><TD STYLE="text-align: justify">Except as hereby amended, all other terms of the Note shall continue in full force and effect.</TD></TR></TABLE>

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