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37 AMENDMENT #1 TO THE ECONOMIC DEVELOPMENT AGREEMENT BETWEEN X-SQUEEZE ME! JUICE, INC. AND THE CITY OF SAN MARCOS, TEXAS. STATE OF TEXAS § § COUNTY OF HAYS § The City of San Marcos, Texas (the "City"), a municipal corporation organized and existing under the laws of the State of Texas and X-Squeeze Me! Juice, Inc. (the "Debtor"), a Texas corporation entered into an Economic Development Agreement (the "Agreement") on October 15, 1996, for the purpose of providing "Gap" financing to Debtor according to the requirements of the City's HUD Economic Development Program. The City and Debtor now agree to amend the Agreement as follows: ARTICLE 1 EQUIPMENT LIEN NOTE 1.1 Debtor promises to pay to the City, attention Finance Department- Accounts Receivable, Forty Thousand Dollars ($40,000.00 ) together with accrued interest until paid at the rate of five percent (5%) per annum. The Loan will be disbursed in two installments, $20,000.00 upon execution of the Agreement and $20,000.00 six months thereafter. Payments are due on the 1 st day of each month and delinquent if not paid by the 5th. A penalty of 4% of the delinquent payment amount is due, in addition to the late payment, if the payment is made on or after the 10th day of the month. Interest is calculated based on a 360 day year. Principal and interest payments will be made according to the following payment schedule: Date Loan Disbursement Payments Amount 11/01/96 $20,000.00 1 - 6 $ 83.33 (Interest Only) 05/01/97 $20,000.00 7 -24 166.67 (Interest Only) 12/01/98 25 - 59 $ 631.14 (Principal & Interest) 11/01/01 Final Payment 60 $22,631.28(Principal & Interest) (Includes $93.91 Interest) In all other respects, except as modified, the terms and provisions of the Agreement shall remain in full force and effect. This amendment shall have the same force and effect