Attached files
| file | filename |
|---|---|
| 8-K - FORM 8-K - GOLDFIELD CORP | d338290d8k.htm |
| EX-10.4 - MODIFICATION OF SECURITY AGREEMENT - GOLDFIELD CORP | d338290dex104.htm |
| EX-10.3 - LOAN AGREEMENT - GOLDFIELD CORP | d338290dex103.htm |
| EX-10.9 - ADDENDUM TO PROMISSORY NOTE - GOLDFIELD CORP | d338290dex109.htm |
| EX-10.5 - MODIFICATION OF SECURITY AGREEMENT - GOLDFIELD CORP | d338290dex105.htm |
| EX-10.2 - ADDENDUM TO RENEWAL AND ADDITIONAL PROMISSORY NOTE - GOLDFIELD CORP | d338290dex102.htm |
| EX-10.6 - GUARANTY AGREEMENT - GOLDFIELD CORP | d338290dex106.htm |
| EX-10.8 - PROMISSORY NOTE - GOLDFIELD CORP | d338290dex108.htm |
| EX-10.1 - RENEWAL AND ADDITIONAL ADVANCE PROMISSORY NOTE - GOLDFIELD CORP | d338290dex101.htm |
| EX-10.10 - LOAN AGREEMENT - GOLDFIELD CORP | d338290dex1010.htm |
| EX-10.12 - GUARANTY AGREEMENT - GOLDFIELD CORP | d338290dex1012.htm |
| EX-10.11 - BB&T SECURITY AGREEEMENT - GOLDFIELD CORP | d338290dex1011.htm |
Exhibit 10-7
Addendum to Loan Agreement
As of the April 17, 2012 the loan agreement associated with Loan # 9660933120-00004 in the original amount of $6,940,000, dated February 22, 2011 by and between BRANCH BANKING AND TRUST COMPANY (“Bank”) and Southeast Power Corporation, a State of Florida corporation (“Borrower”), having its executive office at Melbourne, Florida is hereby amended as follows:
Section 5 Financial Covenants is modified to replace:
“Debt to Worth. A ratio of total liabilities to tangible net worth of not greater than 1.5 to 1.0.”
with
“Debt to Worth. A ratio of total liabilities to tangible net worth of not greater than 2.0 to 1.0”
No other changes or modifications to the original agreement are made by this addendum. This addendum modification would supersede any prior change or addendum to this section of the loan agreement.
IN WITNESS WHEREOF, the Bank, Borrower and Guarantor(s) have caused this Agreement to be duly executed under seal all as of the date first above written.
| Witnesses: | Borrower: | |||||
| Southeast Power Corporation | ||||||
| /s/ Barry Forbes |
By: | /s/ Stephen R. Wherry | ||||
| Stephen R. Wherry | ||||||
| /s/ Cassandra Mora-Brown |
Title: Treasurer | |||||
| Guarantors: | ||||||
| The Goldfield Corporation | ||||||
| /s/ Barry Forbes |
By: | /s/ Stephen R. Wherry | ||||
| Stephen R. Wherry | ||||||
| /s/ Cassandra Mora-Brown |
Title: Senior Vice President | |||||
| Bank: | ||||||
| Branch Banking and Trust Company | ||||||
| /s/ Stephen R. Wherry |
||||||
| By: | /s/ Barry Forbes | |||||
| /s/ Cassandra Mora-Brown |
Barry Forbes | |||||
| Title: Senior Vice President | ||||||