FOURTH AMENDMENT TO
REVOLVING NOTE AGREEMENT
This Third
Amendment to the Revolving Note Agreement ("the AMENDMENT") is
entered into as of January 16, 2007, by and among Marine Growth
Ventures Inc.,
Marine Growth Charter,
Inc., Marine
Aggregates,
Inc., Marine Growth
Freight,
Inc.,, and Gulf Casino Cruises, Inc., Delaware corporations (collectively the
"Borrower"), and Frank P. Crivello (the "Lender").
WHEREAS, the Borrower
and the Lender are
parties to a Revolving
Note
Agreement dated as of January 5, 2006 (the "NOTE AGREEMENT")
pursuant to which,
among other things, the Borrower promised to pay the Lender the
principal sum of
up to Fifty Thousand Dollars ($50,000.00), or so much thereof as
shall have been
advanced by the Lender to the Borrower plus interest thereon at an annual rate
equal to ten percent
(10%) on the
Maturity date of such Note being June 30,
2006.
WHEREAS, the Note
Agreement was amended on March 31, 2006, permitting
the Borrower to acquire an additional Fifty Thousand Dollars ($50,000.00) in
funds from the Lender.
WHEREAS, the Note
Agreement was amended
on June 20, 2006,
permitting
the Borrower to acquire an additional Fifty Thousand Dollars ($50,000.00) in
funds from the Lender.
WHEREAS, the Note Agreement was amended on October 6, 2006,
permitting
the Borrower to acquire an additional Fifty Thousand Dollars ($50,000.00) in
funds from the Lender.
WHEREAS,
the parties
desire to make a
certain amendment to
the Third
Amendment to the Revolving Note Agreement to permit the Borrower
to acquire an
additional Fifty Thousand Dollars ($50,000.00) in funds from the
Lender and to
extend the date in which the princi
