Q Lotus Holdings, Inc.

Q Lotus Holdings, Inc.
 
500 N Dearborn St.  Suite 605, Chicago, IL  60654

May 20, 2011
 
Southshore Real Estate Development, LLC
Four Executive Boulevard – Suite 200
Suffern, NY  10901
Attention: Josh Goldstein

Re:  2nd 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 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.
Q Lotus Holdings, Inc. (“Obligor’) hereby promises to pay to the order of Southshore Real Estate Development, LLC (“Payee’) the principal sum of Three Hundred Thousand Dollars ($300,000); and

 
2.
The Maturity Date is hereby extended to June 30, 2011.

Please acknowledge your acceptance of the above change by executing this amendment below.

Q Lotus Holdings, Inc.

By:
/S/ GARY ROSENBERG
 
 
Gary Rosenberg
 
Its:
CEO
 

Understood and Agreed to this 20th day of May, 2011.

Southshore Real Estate Development, LLC

By:
 
   
Its:
General Partner