Extension Agreement for Second Amended and Restated Promissory Note between O’Donnell & Masur, L.P. and Bestway, Inc.

Summary

O’Donnell & Masur, L.P. and Bestway, Inc. have agreed to extend the maturity date of their existing promissory note from May 31, 2006, to May 31, 2007. All other terms and conditions of the original note remain unchanged and in effect. This agreement simply gives Bestway, Inc. an additional year to repay the loan, unless the note is accelerated under its existing terms.

EX-10.2 3 dex102.htm EXTENSION AGREEMENT FOR THE SECOND AMENDED AND RESTATED PROMISSORY NOTE Extension Agreement for the Second Amended and Restated Promissory Note

Exhibit 10.2

EXTENSION AGREEMENT

August 13, 2004

Reference is made to that certain Second Amendment and Restated Promissory Note dated October 26, 2001 (the “Note”) between O’Donnell & Masur, L.P. (the “Payee”) and Bestway, Inc. (the “Maker”). All capitalized terms used in the agreement shall have the meanings given such terms in the Note, unless otherwise defined herein.

Pursuant to the Note, the current maturity is May 31, 2006. The Payee and the Maker desire to extend the Note maturity until May 31, 2007. Therefore, in consideration of the mutual reliance on the parties hereto, the Payee and the Maker agree that (1) the maturity of the Note is extended to May 31, 2007, unless sooner accelerated pursuant to the provisions of the Note and that (2) all terms and provisions of the Note shall remain in full force and effect and shall govern the rights and obligations of the Payee and the Maker.

EXECUTED as of August 13, 2004.


O’DONNELL & MASUR, L.P.

By:		/s/ James A. O’Donnell
		Partner

BESTWAY, INC.

By:		/s/ Beth A. Durrett
		Chief Financial Officer