Addendum to Master Equipment Finance Agreement dated as of April 14, 2021 between KLC Financial, LLC and ARCA Recycling, Inc

EX-10.2 2 jan-ex102_13.htm EX-10.2 jan-ex102_13.htm


Exhibit 10.2



Certain identified information has been omitted from this document because it is both not material and would be competitively harmful if publicly disclosed and had been marked with “[***]” to indicate where omissions have been made.





This is an ADDENDUM to Master Equipment Finance Agreement Number 7085A-01 (“Agreement”) by and between KLC Financial, Inc. (“Lessor/Lender”) and ARCA Recycling, Inc. dba (if applicable) (Fed ID ###-###-####) (“Borrower/Lessee”) dated March 24, 2021 and is hereby incorporated therein.


This addendum voids the previous addendum signed on 4/6/21 and replaces it with the following. This addendum makes the following changes to the equipment, as outlined in the attached Equipment Schedule, D&A, and Disbursement:


Removes the [***], [***] and [***]

Adds [***] ea. Shred Tech Corp [***] and [***] ea. [***]


The equipment cost will change to $1,834,678.41, and the 1 advance payment and 71 monthly payments will change to $31,500.16 per month plus applicable tax and fees starting June 1, 2021. All other terms remain the same.


All Lessee(s)/Borrower(s) and guarantors on this Agreement reaffirm all terms and obligations of this Agreement and any related guaranties.


If a signed copy of this Addendum or any associated document is delivered to Lessor/Lender by facsimile transmission, it shall be binding on Lessee/Borrower and any guarantors agree, notwithstanding any rule of evidence to the contrary, that such facsimile signature of Lessee/Borrower shall be deemed an original signature.


Borrower: ARCA Recycling, Inc.



/s/ Virland A. Johnson

Virland A Johnson – CFO


4/14/2021 | 2:29 PM PDT



GUARANTOR:  Virland A Johnson



/s/ Virland A Johnson


4/14/2021  | 2:29 PM PDT



Lender: KLC Financial, Inc.



/s/ Shannon Smith


4/14/2021 | 4:42 PM PDT