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Exhibit 10.20
REGIONS BANK
March 22, 2007
Mr. Ron Kaplan
Action Products International, Inc.
1101 North Keller Road, Suite E
Orlando, FL 32810
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Re:
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Revolving
Credit Note for the maximum principal amount of $3,000,000.00 dated
as 9/2/05 and extension
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(Loan
#92-1322873-963595)
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Dear Mr. Kaplan:
The above described note will mature
on March 31, 2007 and shall become due and payable in full on
that date Regions Bank, as successor by merger to AmSouth Bank,
hereby agrees to temporarily forbear from requiring payment in full
of the note until April 30, 2007.
This letter is to
advise you that we will not commence any action to collect the
indebtedness evidenced to the note or to replevin/foreclosure on
any collateral securing the note until after April 30, 2007;
provided however, that you continue to make monthly payments of all
accrued interest under the note of the 31 st
day of
March, 2007 and the 30 th
day of
April, 2007. All your duties and obligations under the note and any
related security instruments or loan documents shall
continu
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