Second Amendment and Restatement of Schedule 1 to Promissory Note between Universal Supply Group, Inc. and Goodman Entities
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Summary
Universal Supply Group, Inc. and Goodman Company, L.P., Goodman Manufacturing Company, L.P., and Goodman Sales Company have amended and restated Schedule 1 to their original $2,000,000 promissory note. The new schedule sets the loan amount at $1,299,679.63, with an 8% interest rate and a 60-month term. The agreement details the payment schedule, including monthly payments and the allocation between principal and interest. All other terms of the original note remain unchanged and in effect.
EX-10.05 4 ex10_05.htm EXHIBIT 10.05 ex10_05.htm
EXHIBIT 10.05
Amendment and Restatement No. 2 dated October 14, 2011 of Schedule 1 to the Promissory Note dated March 24, 2010 by Universal Supply Group, Inc., as such schedule was amended and restated on April 13, 2011, in favor of Goodman Company, L.P., Goodman Manufacturing Company, L.P., and Goodman Sales Company in the original principal sum of $2,000,000 (the “Note”).
Schedule 1 to the Note is hereby amended and restated in its entirety to read as set forth in Exhibit 1.
Except as set forth above, the Note is ratified and confirmed in all respects.
Dated: October 14, 2011
| UNIVERSAL SUPPLY GROUP, INC. | GOODMAN COMPANY, L.P. | ||||
| By: | By: | ||||
| Name: William Pagano, President | Name: | ||||
| Title: | |||||
| GOODMAN MANUFACTURING COMPANY, | |||||
| L.P. | |||||
| By: | |||||
| Name: | |||||
| Title: | |||||
| GOODMAN SALES COMPANY | |||||
| By: | |||||
| Name: | |||||
| Title: | |||||
| ENTER IN THE FOLLOWING INFORMATION: | ||||||||||||||||
| Loan Amount | 1,299,679.63 | |||||||||||||||
| Interest Rate | 8.00 | % | ||||||||||||||
| Term (Months: 180=15 years, 360=30 years) | 60 | |||||||||||||||
| $ | 26,352.817 | |||||||||||||||
| YOUR MORTGAGE PAYMENT: | $ | 29,195.00 | ||||||||||||||
| Due Date | Payment | Interest | Principal | Balance | ||||||||||||
| 11/24/2011 | $ | 29,195.00 | $ | 8,664.53 | $ | 20,530.47 | $ | 1,279,149.16 | ||||||||
| 12/24/2011 | $ | 29,195.00 | $ | 8,527.66 | $ | 20,667.34 | $ | 1,258,481.82 | ||||||||
| 1/24/2012 | $ | 29,195.00 | $ | 8,389.88 | $ | 20,805.12 | $ | 1,237,676.70 | ||||||||
| 2/24/2012 | $ | 29,195.00 | $ | 8,251.18 | $ | 20,943.82 | $ | 1,216,732.88 | ||||||||
| 3/24/2012 | $ | 29,195.00 | $ | 8,111.55 | $ | 21,083.45 | $ | 1,195,649.43 | ||||||||
| 4/24/2012 | $ | 29,195.00 | $ | 7,971.00 | $ | 21,224.00 | $ | 1,174,425.43 | ||||||||
| 5/24/2012 | $ | 29,195.00 | $ | 7,829.50 | $ | 21,365.50 | $ | 1,153,059.93 | ||||||||
| 6/24/2012 | $ | 29,195.00 | $ | 7,687.07 | $ | 21,507.93 | $ | 1,131,552.00 | ||||||||
| 7/24/2012 | $ | 29,195.00 | $ | 7,543.68 | $ | 21,651.32 | $ | 1,109,900.68 | ||||||||
| 8/24/2012 | $ | 29,195.00 | $ | 7,399.34 | $ | 21,795.66 | $ | 1,088,105.01 | ||||||||
| 9/24/2012 | $ | 29,195.00 | $ | 7,254.03 | $ | 21,940.97 | $ | 1,066,164.05 | ||||||||
| 10/24/2012 | $ | 29,195.00 | $ | 7,107.76 | $ | 22,087.24 | $ | 1,044,076.81 | ||||||||
| 11/24/2012 | $ | 29,195.00 | $ | 6,960.51 | $ | 22,234.49 | $ | 1,021,842.32 | ||||||||
| 12/24/2012 | $ | 29,195.00 | $ | 6,812.28 | $ | 22,382.72 | $ | 999,459.60 | ||||||||
| 1/24/2013 | $ | 29,195.00 | $ | 6,663.06 | $ | 22,531.94 | $ | 976,927.67 | ||||||||
| 2/24/2013 | $ | 29,195.00 | $ | 6,512.85 | $ | 22,682.15 | $ | 954,245.52 | ||||||||
| 3/24/2013 | $ | 29,195.00 | $ | 6,361.64 | $ | 22,833.36 | $ | 931,412.15 | ||||||||
| 4/24/2013 | $ | 29,195.00 | $ | 6,209.41 | $ | 22,985.59 | $ | 908,426.57 | ||||||||
| 5/24/2013 | $ | 29,195.00 | $ | 6,056.18 | $ | 23,138.82 | $ | 885,287.75 | ||||||||
| 6/24/2013 | $ | 29,195.00 | $ | 5,901.92 | $ | 23,293.08 | $ | 861,994.66 | ||||||||
| 7/24/2013 | $ | 29,195.00 | $ | 5,746.63 | $ | 23,448.37 | $ | 838,546.30 | ||||||||
| 8/24/2013 | $ | 29,195.00 | $ | 5,590.31 | $ | 23,604.69 | $ | 814,941.60 | ||||||||
| 9/24/2013 | $ | 29,195.00 | $ | 5,432.94 | $ | 23,762.06 | $ | 791,179.55 | ||||||||
| 10/24/2013 | $ | 29,195.00 | $ | 5,274.53 | $ | 23,920.47 | $ | 767,259.08 | ||||||||
| 11/24/2013 | $ | 29,195.00 | $ | 5,115.06 | $ | 24,079.94 | $ | 743,179.14 | ||||||||
| 12/24/2013 | $ | 29,195.00 | $ | 4,954.53 | $ | 24,240.47 | $ | 718,938.67 | ||||||||
| 1/24/2014 | $ | 29,195.00 | $ | 4,792.92 | $ | 24,402.08 | $ | 694,536.59 | ||||||||
| 2/24/2014 | $ | 29,195.00 | $ | 4,630.24 | $ | 24,564.76 | $ | 669,971.83 | ||||||||
| 3/24/2014 | $ | 29,195.00 | $ | 4,466.48 | $ | 24,728.52 | $ | 645,243.31 | ||||||||
| 4/24/2014 | $ | 29,195.00 | $ | 4,301.62 | $ | 24,893.38 | $ | 620,349.94 | ||||||||
| 5/24/2014 | $ | 29,195.00 | $ | 4,135.67 | $ | 25,059.33 | $ | 595,290.60 | ||||||||
| 6/24/2014 | $ | 29,195.00 | $ | 3,968.60 | $ | 25,226.40 | $ | 570,064.21 | ||||||||
| 7/24/2014 | $ | 29,195.00 | $ | 3,800.43 | $ | 25,394.57 | $ | 544,669.63 | ||||||||
| 8/24/2014 | $ | 29,195.00 | $ | 3,631.13 | $ | 25,563.87 | $ | 519,105.76 | ||||||||
| 9/24/2014 | $ | 29,195.00 | $ | 3,460.71 | $ | 25,734.29 | $ | 493,371.47 | ||||||||
| 10/24/2014 | $ | 29,195.00 | $ | 3,289.14 | $ | 25,905.86 | $ | 467,465.61 | ||||||||
| 11/24/2014 | $ | 470,582.05 | $ | 3,116.44 | $ | 467,465.61 | $ | 0.00 | ||||||||
| $ | 1,521,602.05 | $ | 221,922.42 | $ | 1,299,679.63 | |||||||||||
| Total payments | Total interest | Total Principal | ||||||||||||||
