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EXHIBIT 10.12(1)
T E R M S H E E T - A M E N D E D
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LENDER: GORAN CAPITAL INC.
BORROWER: SYMONS INTERNATIONAL GROUP, INC.
PRINCIPAL AMOUNT AND $500,000.00 DATED JANUARY 30, 1992
ORIGINAL LOAN DATE: $500,000.00 DATED APRIL 3, 1992
$500,000.00 DATED JUNE 30, 1992
$160,000.00 DATED OCTOBER 1, 1992
$150,000.00 DATED DECEMBER 31, 1992
$140,000.00 DATED APRIL 19, 1993
INTEREST: 10% PER ANNUM, COMPOUNDED SEMI-ANNUALLY
PRINCIPAL AND INTEREST
REPAYMENT: PAYABLE UPON DEMAND
SYMONS INTERNATIONAL GROUP, INC. GORAN CAPITAL, INC.
PER: /s/ DOUGLAS H. SYMONS PER /s/ BRUCE K. DWYER
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DOUGLAS H. SYMONS BRUCE K. DWYER, VICE PRESIDENT
DATE: 1-5-96 DATE: 1-5-96
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TERM SHEET
LENDER: Goran Capital Inc.
BORROWER: Symons International Group, Inc.
PRINCIPAL AMOUNT: $500,000.00 U.S.
DATE OF LOAN: January 30, 1992
TERM: 41 months; Expiry June 30, 1995
INTEREST: 10% per annum; payable monthly in
arrears; first payment July 31, 1992,
interest to be accrued until then.
PRINCIPAL REPAYMENT: 11 quarterly payments of $25,000.00
U.S. each due on the last day of each
quarter commencing September, 30, 1992,
to and including March 30, 1995 and one
payment of $225,000.00 U.S. due June
30, 1995.
WITHHOLDING TAX: Borrower shall withhold appropriate
amount for taxes.
MISCELLANEOUS: Formal agreement to be executed.
DATED the 19th day of May, 1992.
GORAN CAPITAL INC. SYMONS INTERNATIONAL GROUP, INC.
per: /s/ Douglas Symons per: /s/ Donald J. Goodenow
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VICE PRESIDENT/COO EXECUTIVE VICE PRESIDENT/SECRETARY
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TERM SHEET
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LENDER: Goran Capital Inc.
BORROWER: Symons International Group, Inc.
PRINCIPAL AMOUNT: $500,000.00 U.S.
DATE OF LOAN: April 3, 1992
TERM: 39 months; Expiry March 31, 1995
INTEREST: 10% per annum; payable monthly in
arrears; first payment July 31, 1992,
interest to be accrued until then.
PRINCIPAL REPAYMENT: 11 quarterly payments of $25,000.00
U.S. each due on the last day of each
quarter commencing September, 30, 1992,
to and including March 30, 1995 and one
payment of $225,000.00 U.S. due June
30, 1995.
WITHHOLDING TAX: Borrower shall withhold appropriate
amount for taxes.
MISCELLANEOUS: Formal agreement to be executed.
DATED the 19th day of May, 1992.
GORAN CAPITAL INC. SYMONS INTERNATIONAL GROUP, INC.
per: /s/ Douglas Symons per: /s/ Donald J. Goodenow
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VICE PRESIDENT/COO EXECUTIVE VICE PRESIDENT/SECRETARY
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TERM SHEET
LENDER: Goran Capital Inc.
BORROWER: Symons International Group, Inc.
PRINCIPAL AMOUNT: $500,000 U.S.
DATE OF LOAN: June 30, 1992
INTEREST: 10% per annum; payable on demand compounded
semiannually
PRINCIPAL REPAYMENT: Payable on demand
REFERENCE: Chemical Bank
GORAN CAPITAL INC. SYMONS INTERNATIONAL GROUP, INC.
PER: /s/ Bruce K. Dwyer PER: /s/ Douglas Symons
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DATE: Feb. 3, 1993 DATE: 2/10/93
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TERM SHEET
LENDER: Goran Capital Inc.
BORROWER: Symons International Group, Inc.
PRINCIPAL AMOUNT: $160,000 U.S.
DATE OF LOAN: October 1, 1992
INTEREST: 10% per annum; payable on demand compounded
semiannually
PRINCIPAL REPAYMENT: Payable on demand
REFERENCE: Chemical Bank
GORAN CAPITAL INC. SYMONS INTERNATIONAL GROUP, INC.
PER: /s/ Bruce K. Dwyer PER: /s/ Douglas Symons
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DATE: Feb. 3, 1993 DATE: 2/10/93
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TERM SHEET
LENDER: Goran Capital Inc.
BORROWER: Symons International Group, Inc.
PRINCIPAL AMOUNT: $150,000 U.S.
DATE OF LOAN: December 31, 1992
INTEREST: 10% per annum; payable on demand
compounded semiannually
PRINCIPAL REPAYMENT: Payable on demand
REFERENCE: Chemical Bank
GORAN CAPITAL INC. SYMONS INTERNATIONAL GROUP, INC.
PER: /s/ Bruce K. Dwyer PER: /s/ Douglas Symons
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DATE: Feb. 3, 1993 DATE: 2/10/93
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T E R M S H E E T
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LENDER: GORAN CAPITAL INC.
BORROWER: SYMONS INTERNATIONAL GROUP, INC.
PRINCIPAL AMOUNT: $140,000.00 (U.S.)
DATE OF LOAN: APRIL 19, 1993
INTEREST: 10% PER ANNUM, COMPOUNDED SEMI-ANNUALLY
PRINCIPAL AND INTEREST
REPAYMENT: PAYABLE UPON DEMAND
SYMONS INTERNATIONAL GROUP, INC. GORAN CAPITAL, INC.
PER: /s/ Douglas H. Symons PER: /s/ Bruce K. Dwyer
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DOUGLAS H. SYMONS, PRESIDENT BRUCE K. DWYER, VICE PRESIDENT
DATE: 4-19-93 DATE: 4-19-93
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