Track (TRCK) 10-Q 2012 Q3 Quarterly report

Exhibit 10.17

AMENDMENT NO. 1

TO

CONVERTIBLE DEBENTURE

SecureAlert, Inc. and SecureAlert Monitoring, Inc. (collectively the “Company”) entered into a debenture with the creditors listed below (the “Creditors”) on April 20, 2012 with a maturity date of July 31, 2012 in the principal amount of $2,500,000.00 with a “green shoe” option to raise an additional $500,000.00 (the “Debenture”).  The parties to the Debenture have desire to extend the maturity date on the Debenture as follows:

1.	Final Maturity Date: The parties hereto acknowledge and agree that the Final Maturity Date of the Debenture shall be extended from July 31, 2012 to August 31, 2012.
2.	Interest:  Simple interest shall accrue at a rate of eight percent (8%) per annum.  Interest shall accrue from the date funds were received by the Company from each respective Creditor under the Debenture.  All interest shall be due and payable in cash at the Final Maturity Date. In lieu of a cash interest payment, each Creditor has the right to convert all or any part of the interest amount into shares of Common Stock of the Company at a conversion price per share of $0.03 per Share.
3.	Security:  For the avoidance of doubt and in addition to the Security outlined in section #2.4 of this Convertible Debenture, Creditor(s) shall receive a first priority lien on the recently issued patent “United States Patent No. 8232876”.  Company acknowledges that the patent listed above is covered by the existing Security Agreement.
4.	Terms of Debenture: Except as provided herein the remaining terms of the Debenture shall be unchanged and fully enforceable by the parties hereto.

IN WITHNESS WHEREOF, this Amendment No. 1 to Convertible Debenture has been duly executed and delivered as of July 31, 2012.

SecureAlert, Inc.SecureAlert Monitoring, Inc.

By:_/s/  John L. Hastings, III	By:   /s/  John L. Hastings, III
John L. Hastings, III	John L. Hastings, III
President and CEO	President

(Remainder of Page Intentionally Left Blank)

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Creditor: Laemi Real Estates Inc.	Address:
Investment Amount: $500,000.00
By:     /s/  Hans-Jorg Gatt	Laemi Real Estates, Inc.
Hans-Jorg Gatt, Director	15 Neugasse
	.O. Box 424
By:    /s/  Christina Meusburger	LI-9490
Christina Meusburger, Director	Principality of Liechtenstein
Creditor: Sapinda Holding BV
Investment Amount: $500,000.00
By:      /s/  Dr. Peter Wiesing	Sapinda Holding BV
Dr. Peter Wiesing, Managing Director	Attn: Herm Holding BV
	World Trade Center
	Schiphol Boulevard 127, A 3.14
	The Netherlands
Creditor: SAPINDA ASIA Limited
Investment Amount: $1,000,000.00
By:      /s/ Lars Windhorst	Sapinda Asia Limited
Lars Windhorst, Managing Director	Rooms 803-4, 8/F
	Hang Seng Bank Building
	200 Hennessy Road
	Wanchai
	Hong Kong
Creditor: George Schmitt
Investment Amount: $500,000.00
	George Schmitt
By:      /s/ George Schmitt	554 Hamilton Way
George Schmitt	Pleasanton, CA 94566

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