EX-10.27
from 10-Q
1 page
Recitals: A. Gnzr Executed That Certain Promissory Note (“Note”) on November 4, 2010 in the Original Principal Amount of $250,000 With Gerald Modesitt (“Gm”) as the Holder. B. Gm Assigned His Interest in the Note as Holder to Trust Upon Receipt of the Note. C. Gnzr Is in Default of Its Obligations of the Note for the Failure to Make All Required Payments Under the Note. D. Trust and Gnzr Desire to Amend the Note and Enter Into Certain Agreements in Connection With the Execution and Deliver Y of This Agreement. Now Therefore, in Consideration of the Above Recitals and Other Good and Valuable Consideration, the Receipt and Sufficiency of Which Is Hereby Acknowledged, the Parties Agree as Follows: 1. All Past Defaults Under the Note Shall Be Waived by Trust, but the Amount of Any Monetary Obligations Shall Not Be Forgiven. 2
12/34/56