Exhibit - 10.231
CIT Tel: ▇▇▇ ▇▇▇-▇▇▇▇
Equipment Rental and Finance - US P.O. Box 27248
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Tempe, AZ 85282 ▇▇▇.▇▇▇.▇▇▇
[CIT LOGO]
Meadow Valley Contractors, Inc.
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RE: AMENDMENT OF AMENDED AND RESTATED REVOLVING LOAN AGREEMENT,
ACCOUNT #▇▇▇▇▇▇▇▇
Gentlemen:
Reference is made to the Amended and Restated Revolving Loan Agreement,
dated July 27, 2001, as amended (the "Loan Agreement"), between Meadow Valley
Contractors, Inc., (the "Company") and The CIT Group/Equipment Financing, Inc.
("CIT").
The Loan Agreement shall be amended as follows:
1. Section 5 of the Loan Agreement: "governing rate" plus 1.50%, is
amended to read: "governing rate" plus 1.25%.
Except as modified herein, the Loan Agreement and all documents executed in
connection therewith shall continue in full force and effect.
Dated: April 1, 2003
Sincerely,
THE CIT GROUP/EQUIPMENT FINANCING, INC.
By: Title
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ACKNOWLEDGED AND AGREED TO:
MEADOW VALLEY CONTRACTORS, INC.
By: ▇▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇ Title President
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GUARANTOR ACKNOWLEDGEMENT:
MEADOW VALLEY CORPORATION
By: ▇▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇ Title V.P.
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READY MIX, INC.
By: ▇▇▇▇▇ ▇▇▇▇▇ Title Sec/Treas
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