Third Amendment to Promissory Note between WFS Financial Inc. and Western Financial Bank (January 1, 2002)

Summary

This amendment updates the terms of a promissory note originally issued by WFS Financial Inc. to Western Financial Bank. The changes increase the loan amount to $150 million, lower the interest rate to 8.875%, and set the final payment due date to August 1, 2007. Western Financial Bank also gains the right to demand repayment of all or part of the principal at any time before maturity. All other terms of the original note remain unchanged.

EX-10.18.3 9 a88052exv10w18w3.txt EXHIBIT 10.18.3 EXHIBIT 10.18.3 THIRD AMENDMENT TO THE PROMISSORY NOTE This THIRD AMENDMENT ("Amendment") dated as of January 1, 2002, by WFS FINANCIAL INC, a California corporation ("WFS"), and WESTERN FINANCIAL BANK, formerly known as Western Financial Bank, F.S.B. ("WFB") amends the PROMISSORY NOTE ("Note") executed by WFS in favor of WFB on August 1, 1997. Capitalized terms not defined herein shall have the same meaning as defined in the Note. The Note is hereby amended to: 1. Increase the principal amount from $67,500,000 to $150,000,000; 2. Decrease the rate of interest on the Note from 9.420% to 8.875%; and 3. Amend the scheduled payment of Principal such that Principal shall now be all due and payable on or before August 1, 2007 (the "Maturity"), except that, notwithstanding anything to the contrary, WFB shall have the exclusive option to require WFS to pay all or part of the Principal at any time from the date hereof to the Maturity. Except as specifically amended herein, all terms and conditions of the Note shall remain in full force and effect. Wherefore, WFS and WFB have caused this Amendment to be executed and delivered by its duly authorized signatory as of the date first set forth above. WFS FINANCIAL INC By: --------------------------- Thomas A. Wolfe Its: President WESTERN FINANCIAL BANK By: --------------------------- J. Keith Palmer Its: SVP & Treasurer