Common use of Restructuring of Debt Clause in Contracts

Restructuring of Debt. The outstanding principal and accrued interest on the Original Notes as of March 31, 2003 of $6,976,758 is hereby restated and exchanged with Borrower effective April 1, 2003 as a single term loan that accrues interest at the rate of five percent (5%) per annum with all principal and accrued interest due and payable on March 31, 2008 (the "Term Loan"). The Term Loan shall be represented by the "Term Note" in the form attached hereto as Exhibit A. Each payment of principal (including any prepayment) and payment of interest and fees, and any other amount required to be paid to the Lender with respect to the Term Note, shall be made to the Lender at it address set forth below on the date such payment is due. Upon execution of this Agreement, Lender is delivering to Borrower the Original Notes.

Restructuring of Debt. The outstanding principal and accrued interest on the Original Notes as of March 31, 2003 of $6,976,758 460,539 is hereby restated and exchanged with Borrower effective April 1, 2003 as a single term loan that accrues interest at the rate of five percent (5%) per annum with all principal and accrued interest due and payable on March 31, 2008 (the "Term Loan"). The Term Loan shall be represented by the "Term Note" in the form attached hereto as Exhibit A. Each payment of principal (including any prepayment) and payment of interest and fees, and any other amount required to be paid to the Lender with respect to the Term Note, shall be made to the Lender at it address set forth below on the date such payment is due. Upon execution of this Agreement, Lender is delivering to Borrower the Original Notes.

Restructuring of Debt. The outstanding principal and accrued interest on the Original Notes as of March 31, 2003 of $6,976,758 784,904 is hereby restated and exchanged with Borrower effective April 1, 2003 as a single term loan that accrues interest at the rate of five percent (5%) per annum with all principal and accrued interest due and payable on March 31, 2008 (the "Term Loan"). The Term Loan shall be represented by the "Term Note" in the form attached hereto as Exhibit A. Each payment of principal (including any prepayment) and payment of interest and fees, and any other amount required to be paid to the Lender with respect to the Term Note, shall be made to the Lender at it address set forth below on the date such payment is due. Upon execution of this Agreement, Lender is delivering to Borrower the Original Notes.

Restructuring of Debt. The outstanding principal and accrued interest on the Original Notes as of March 31, 2003 of $6,976,758 835,310 is hereby restated and exchanged with Borrower effective April 1, 2003 as a single term loan that accrues interest at the rate of five percent (5%) per annum with all principal and accrued interest due and payable on March 31, 2008 (the "Term Loan"). The Term Loan shall be represented by the "Term Note" in the form attached hereto as Exhibit A. Each payment of principal (including any prepayment) and payment of interest and fees, and any other amount required to be paid to the Lender with respect to the Term Note, shall be made to the Lender at it address set forth below on the date such payment is due. Upon execution of this Agreement, Lender is delivering to Borrower the Original Notes.