Re: Promissory Note in the Amount of $225,000 From Robert Alan Kast ("Lender")
to AGU Entertainment Corp. (The "Borrower"), Dated September 1, 2005, as
Amended (The "Note")
Cypress Creek Road
Lauderdale, FL 33309
Note in the amount of $225,000 from Robert Alan Kast (“Lender”)
Entertainment Corp. (the “Borrower”),
September 1, 2005, as amended (the “Note”)
letter, when fully signed and delivered, will confirm the understandings
Lender and Borrower relating to the Note, and shall modify the Note on the
set forth herein.
in consideration of the sum of TEN ($10.00) DOLLARS, the mutual promises
contained herein, and other good and valuable consideration, the receipt
sufficiency of which are hereby acknowledged, the parties, intending to be
legally bound, do hereby agree as follows:
hereby agrees that the Maturity Date under the Note shall be extended to
time as a closing by the Company of any financing in excess of $2,000,000
completed, upon which time all principal and interest shall be due in full.
Lender specifically acknowledges that he will not receive any payment from
proceeds derived from an up to $5,000,000 financing, the closing of which
to occur on or about April 12, 2006 with Nite Capital L.P. and other
herein provided, all provisions of the Note are hereby ratified and re-affirmed,
and shall be and remain fully enforceable in accordance with their
hereby waives any and all past defaults; provided, however, that Lender
waiving its rights to receive default interest and penalties.
documentation shall be necessary to effectuate this Modification.
call me immediately should you have any questions or comments. Thank
|this 16 day of April,
|The Tube Media Corp.
W. Poling, CFO