May 2001 Amendment to Repurchase Agreement between The Credit Store, Inc. and Bank of Hoven

Summary

The Credit Store, Inc. and Bank of Hoven have agreed to extend the option period in their existing Repurchase Agreement from May 31, 2001, to August 31, 2001. In exchange for this extension, The Credit Store, Inc. will pay Bank of Hoven $10,000. This amendment is formalized through a signed letter agreement between the parties.

EX-10.47.2 10 b311988ex10_47-2.txt MAY AMENDMENT TO THE REPURCHASE AGREEMENT [LETTERHEAD OF THE CREDIT STORE(R), INC.] May 31, 2001 VIA FACSIMILE & U.S. CERTIFIED MAIL - ----------------------------------- (605) 948-2198 Steve Hageman, President Bank of Hoven 202 Main Street Hoven, South Dakota 57450 RE: Repurchase Agreement Dated November 30, 2000 and Letter Agreement Dated February 27, 2001 Dear Mr. Hageman: This letter shall memorialize the agreement between Bank of Hoven and The Credit Store, Inc. to modify the provisions of Section 2.2(a) of the Repurchase Agreement dated November 30, 2000, and as amended by the Letter Agreement dated February 27, 2001, to extend the Option Period from May 31, 2001, to August 31, 2001. In consideration of this modification, The Credit Store, Inc. will pay $10,000 to Bank of Hoven. Please sign this letter to signify your agreement with the above modification. Sincerely Yours, /s/ Michael J. Philippe ----------------------- Michael J. Philippe Executive Vice President and Chief Financial Officer APPROVED AND ACCEPTED: BANK OF HOVEN /s/ Steve Hageman - ------------------------ Steve Hageman, President