PROMISSORY NOTE
EXTENSION AGREEMENT
THIS PROMISSORY NOTE
EXTENSION AGREEMENT (“Agreement”) is made and
entered into effective as of June 30, 2008, by and among
ENERLUME ENERGY MANAGEMENT CORP., a Colorado corporation,
formerly known as Host America Corporation,
(“Maker”) and PATRICK J. HEALY & LINDA A.
HEALY JTWROS (the “Payee”).
R E C I T
A L S:
A. Maker
and Payee are parties to a Promissory Note dated between
January 12, 2004 and May 27, 2004, in the original principal
amount of Fifty Thousand Dollars ($50,000). (the
“Note”).
B. The
Note matures on January 31, 2009, and the parties hereto have
entered into this Agreement for purposes of extending the
maturity date of the Note.
NOW, THEREFORE, for
valuable consideration, the parties hereto agree as
follows:
1. PRINCIPAL
BALANCE. The outstanding principal amount due under the Note
is currently Fifty Thousand Dollars ($50,000). In addition,
interest has accrued and continues to accrue under the terms
of the Note. Maker shall continue to pay interest
payments to Payee under the terms of the Note until the Due
Date, as amended hereby.
2. DUE
DATE. The Due Date as defined in the Note is
hereby extended to January 31, 2010, on which date all
principal and interest remaining outstanding shall be paid in
full without further notice or demand.
3. WARRANT. Upon
execution of this Agreement, Maker agrees to issue to Payee a
cashless warrant to purchase 25,000 shares of Maker’s
common stock at $0.75 per share, exercisable until January
31, 2014 (the “Warrant”).
4. INVESTMENT
REPRESENTATIONS. The Payee re-affirms the
representations and warranties contained in the original
subscription agreement dated between January 12, 2004 and May
27, 2004 executed in connection with the original Note
issuance and represents and warrants to the Maker that in
connection with the extension of the matur
