Notice of Non-Renewal and Loan Repayment Demand between Summit Business Capital Corp. and NDC Automation, Inc.

Summary

Summit Business Capital Corp. has formally notified NDC Automation, Inc. that it will not renew a $450,000 loan, which is set to end on January 31, 2001. NDC Automation, Inc. is required to repay the full loan amount by that date. The letter is acknowledged by both parties and serves as official notice of the loan's termination and repayment obligation.

EX-10.2 3 0003.txt NOTICE LETTER Summit Business Capital Corp. 545 North Tryon Street, Suite 1600 Charlotte, North Carolina 28202 November 30, 2000 NDC Automation, Inc. 3101 Latrobe Drive Charlotte, North Carolina 28211-4849 Re: Summit Business Capital Corp. $450,000.00 Loan to NDC Automation, Inc. (the "Loan") Gentlemen: This letter shall constitute notice to you that Summit Business Capital Corp. (the "Lender") will not be renewing the Loan that will terminate on January 31, 2001 (the "Termination Date"). The Lender will expect payment in full of the Loan on the Termination Date. Sincerely, SUMMIT BUSINESS CAPITAL CORP. By /s/ Keith D. Scheid ------------------------------------------ Title Assistant Vice-President --------------------------------------- Acknowledged By: NDC AUTOMATION, INC. By /s/ Claude Imbleau ------------------------------------------ Title Chief Operating Officer ---------------------------------------