FORM OF SECOND AMENDMENT TO PROMISSORY NOTE
Exhibit
99.4
FORM
OF
SECOND
AMENDMENT TO PROMISSORY NOTE
THIS
SECOND AMENDMENT TO PROMISSORY NOTE is made as of September 1, 2006 (the
“Amendment”), by and between _________ (the “Holder”) and Health Discovery
Corporation, a Texas corporation (the “Company”).
RECITALS
A. The
Company executed and delivered to Holder that certain Promissory Note dated
as
of July 30, 2004, payable to the order of the Holder in the principal amount
of
_________ Dollars ($_______) (the “Note”). The Note provides for the principal
balance to be paid in full on the sixteenth month anniversary of the Initial
Payment Date.
B. Pursuant
to that certain First Amendment to Promissory Note dated as of December 29,
2005
(the “First Amendment”), the Company and Holder agreed to, among other things,
an extension of the maturity date of the Note to October 31, 2007.
C. The
Company has negotiated a loan in the principal amount of $1,000,000.00 (the
“Loan”), proceeds of which will be used for general working capital purposes,
and one condition of the Loan is Holder’s execution of this
Agreement.
D. The
Company has requested, and the Holder has agreed to an extension of the maturity
date for payment of the indebtedness evidenced by the Note to September 1,
2008,
and the parties wish to memorialize their agreement in writing.
NOW,
THEREFORE, for and in consideration of the mutual agreements herein stated,
and
other good and valuable consideration, the adequacy and receipt of which are
hereby acknowledged, Holder and the Company agree as follows:
1. Maturity
Date. All
references on page 1 of the Note, as amended by the First Amendment, to payments
due on the twelfth and sixteenth month anniversary of the Initial payment Date
shall be deleted, and September 1, 2008 shall be substituted therefore, which
thereby extends the Maturity Date to September 1, 2008.
2. Holder
Conditions.
This Amendment shall not be effective until the Company receives the
proceeds of the Loan.
3. No
Other Amendment or Waiver. The
Note,
as amended by the First Amendment and this Amendment, remains in full force
and
effect in accordance with its terms, and Holder and the Company hereby ratify
and confirm the same.
4. Counterparts.
This
Amendment may be executed in any number of counterparts and by different parties
hereto in separate counterparts, each of which, when so executed and delivered,
shall be deemed to be an original and all of which counterparts, taken together,
shall constitute one instrument.
5. Successors
and Assigns.
This Amendment shall be binding upon and inure to the benefit of the successors
and permitted assigns of the parties hereto.
6. Section
References. Section
titles and references used in this Amendment shall be without substantive
meaning or content of any kind whatsoever.
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IN
WITNESS WHEREOF, the Holder and the Company have executed this Amendment as
of
the day and year first written above.
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HOLDER
HEALTH
DISCOVERY CORPORATION
By:
_________________________________________
Name:
▇▇▇▇▇▇ ▇▇▇▇▇
Title:
Executive Vice President
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