Eighth Amendment to Promissory Note between Q Lotus Holdings, Inc. and Southshore Real Estate Development, LLC
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Summary
Q Lotus Holdings, Inc. and Southshore Real Estate Development, LLC have agreed to amend their existing promissory note, originally dated February 23, 2011. This amendment extends the maturity date for the outstanding principal balance of $544,000 to October 7, 2011. Both parties have signed to confirm their acceptance of this change.
EX-10.17 2 v235843_ex10-17.htm Unassociated Document
| Q Lotus Holdings, Inc. A Private Equity Holding Company |  | 500 N Dearborn St, Suite 605 Chicago, IL 60654 (312) 379-1800 |
September 22, 2011
Southshore Real Estate Development, LLC
Four Executive Boulevard – Suite 200
Suffern, NY 10901
Attention: Josh Goldstein
Re: 8th Amendment to Promissory Note
Dear Josh:
In accordance with our discussions, Q Lotus Holdings, Inc. and Southshore Real Estate Development, LLC hereby agree to further amend the Promissory Note dated February 23, 2011 (as amended, supplemented or otherwise modified from time to time) between Q Lotus Holdings, Inc. and Southshore Real Estate Development, LLC in the amount of two hundred thousand dollars ($200,000) such that, notwithstanding anything contained in the Promissory Note to the contrary:
| 1. | The Maturity Date for the aggregate principal balance equal to Five Hundred Forty Four Thousand Dollars ($544,000) is hereby extended to October 7, 2011. |
Please acknowledge your acceptance of the above change by executing this amendment below.
Q Lotus Holdings, Inc.
By: /S/ Gary A. Rosenberg
Gary Rosenberg
Its: CEO
Understood and Agreed to this 22nd day of September, 2011.
Southshore Real Estate Development, LLC
By: /S/ JOSH GOLDSTEIN
Josh Goldstein
Its: General Partner
