Exhibit 10.7(d)
Loan Number
12121547
Agreement Date
04-01-2008
Credit Limit $
2,000,000.00
Maturity Date
04-01-2009
This Modification Agreement (the
“Modification”), dated April 23, 2008, is entered
into by and between Coastal
Carolina Bancshares, Inc . (individually and collectively,
the “Borrower”) and South Carolina Bank and Trust, N.A. (the
“Lender”). This Modification amends and supplements
that certain note
between Borrower and Lender dated 04-01-2008 (the
“Agreement”),
In
consideration of the mutual agreements set forth herein and
Lender’s agreement to make additional advances as set forth
hereinafter, the receipt and sufficiency of which is hereby
acknowledged, the Agreement is amended to add the
following:
In the event Borrower
draws transaction account 500000492 in the name of
Coastal Carolina Bancshares, Inc
. on
which the following are signers: Holly L. Schreiber, Michael D.
Owens below $ 0.00 (Triggering
Balance), depending on the availability of my Line of Credit based
on my then current Credit Limit, the Lender will make advances to
restore these transaction accounts to a positive balance. Advances will be made
in $100 increments. Advances to the transaction accounts designated herein will be made
each day that the balance in that account is below the
Triggering Balance, subject to
the condition that the Credit Limit may not be exceeded by
any advance. If the
Credit Limit will be exceeded by any advance needed to restore the
transaction account to
an amount above the Triggering Balance, Borrower acknowledges and
agrees that no advance shall be made. All applicable charges
to the designated transaction account resulting from a negative balance
shal
