EXHIBIT 10.20
AFTER RECORDING, RETURN TO:
Givens Pursley LLP
601 W. Bannock
Boise, ID 83702
Attn.: Angela K. Nelson
MODIFICATION AND EXTENSION OF
SECOND LIEN COMMERCIAL MORTGAGE,
ASSIGNMENT OF LEASES AND RENTS,
AND FIXTURE FILING
THIS MODIFICATION AND EXTENSION OF SECOND
LIEN COMMERCIAL MORTGAGE,
ASSIGNMENT OF LEASES AND RENTS, AND FIXTURE
FILING (herein "Amendment") is
made as of December 14, 2004, among Trinity
Springs, Inc., a Delaware
Corporation, whose address is 1101 West
River Street, Suite 370, Boise, Idaho
83702, for the benefit of AMCON
Distributing Co., a Delaware corporation,
whose address is 7405 Irvington Road,
Omaha, Nebraska 68164-7940 and Allen D.
Petersen, an individual whose address is
Draupnir LLC, 515 N. State St.,
#2650, Chicago, IL 60610. All terms not defined herein shall
have the
meanings ascribed to them in the Mortgage
(hereinafter defined).
W I T N E S S E T H:
WHEREAS, Trinity Springs, Inc. heretofore
executed and delivered that certain
SECOND LIEN COMMERCIAL MORTGAGE, ASSIGNMENT
OF LEASES AND RENTS, AND FIXTURE
FILING, dated June 17, 2004 and recorded on
the 25th day of June, 2004, as
Instrument Nos. 357782 and 357783, records
of Elmore County, State of Idaho
(hereinafter referred to as the
"Mortgage"); and
WHEREAS, said Mortgage being made to secure
a note in the principal sum of
ONE MILLION AND NO/100 DOLLARS
($1,000,000.00), with interest thereon, with a
final maturity date of July 1, 2005
(hereinafter referred to as the "Original
Note"), subsequent intercompany advances in
an aggregate amount of ONE
MILLION EIGHTY SIX THOUSAND AND NO/100
DOLLARS ($1,086,000.00) from Borrower
to AMCON Distributing Co., and also such
further sums as may be advanced or
loaned by AMCON Distributing Co. to Trinity
Springs, Inc.; and
WHEREAS, Allen D. Petersen has loaned to
Trinity Springs, Inc. a credit line
with a principal sum of up to ONE MILLION
DOLLARS ($1,000,000.00), with
interest thereon, with a final maturity
date of December 14, 2005, such loan
being evidenced by a note of even date
herewith (the "New Note"); and
WHEREAS, AMCON Distributing Co. and Allen
D. Petersen have agreed that the
Original Note and the New Note, and such
future advances as shall be extended
to Trinity Springs, Inc. thereunder, shall
be secured by the Mortgage as
amended hereby;
WHEREAS, the parties desire to modify and
amend the Mortgage to secure the
New Note, and to provide for additional
terms as hereinafter provided.
NOW, THEREFORE, in consideration of the
premises, the promises and agreements
between the said parties hereinafter
contained, and the mutual benefits
accruing to the undersigned parties
hereunder, the parties hereto for
themselves and their respective successors
and assigns do hereby agree as
follows:
1. The above recitals are
incorporat
