<SEC-DOCUMENT>0001144204-13-068560.txt : 20131223
<SEC-HEADER>0001144204-13-068560.hdr.sgml : 20131223
<ACCEPTANCE-DATETIME>20131223060545
ACCESSION NUMBER:		0001144204-13-068560
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		6
CONFORMED PERIOD OF REPORT:	20131219
ITEM INFORMATION:		Entry into a Material Definitive Agreement
ITEM INFORMATION:		Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant
ITEM INFORMATION:		Other Events
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20131223
DATE AS OF CHANGE:		20131223

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			LAKELAND INDUSTRIES INC
		CENTRAL INDEX KEY:			0000798081
		STANDARD INDUSTRIAL CLASSIFICATION:	ORTHOPEDIC, PROSTHETIC & SURGICAL APPLIANCES & SUPPLIES [3842]
		IRS NUMBER:				133115216
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			0131

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-15535
		FILM NUMBER:		131293111

	BUSINESS ADDRESS:	
		STREET 1:		701-7 KOEHLER AVENUE
		CITY:			RONKONKOMA
		STATE:			NY
		ZIP:			11779
		BUSINESS PHONE:		6319819700

	MAIL ADDRESS:	
		STREET 1:		701- 7 KOEHLER AVENUE
		CITY:			RONKONKOMA
		STATE:			NY
		ZIP:			11779
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>v363602_8k.htm
<DESCRIPTION>CURRENT REPORT
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>UNITED STATES</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>SECURITIES AND EXCHANGE COMMISSION</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Washington, D.C. 20549</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">FORM 8-K</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>CURRENT REPORT</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Pursuant to Section 13 OR 15(d) of the
Securities Exchange Act of 1934</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;&nbsp;</B></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Date of Report (Date of earliest event
reported): December 19, 2013</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">__________________________________________</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Lakeland Industries, Inc.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Exact name of registrant as specified in
its charter)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 34%; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">Delaware</FONT></TD>
    <TD STYLE="width: 33%; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 10pt">0-15535</FONT></TD>
    <TD STYLE="width: 33%; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 10pt">13-3115216</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">(State or other jurisdiction</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">(Commission</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">(IRS Employer</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">of incorporation)</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">File Number)</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">Identification No.)</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><U>701 Koehler Avenue, Suite 7, Ronkonkoma,
New York 11779-7410</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Address of principal executive offices)
(Zip Code)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Registrant&rsquo;s telephone number, including
area code: <B><U>(631) 981-9700</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0.5in"><B><U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Not
Applicable&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Former Name or Former Address, if Changed
Since Last Report)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Check the appropriate box below if the Form 8-K filing is intended
to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Wingdings">&uml;</FONT></TD><TD STYLE="text-align: justify">Written communications pursuant to Rule 425 under the
Securities Act (17 CFR 230.425)</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Wingdings">&uml;</FONT></TD><TD STYLE="text-align: justify">Soliciting material pursuant to Rule 14a-12 under the
Exchange Act (17 CFR 240.14a-12)</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Wingdings">&uml;</FONT></TD><TD>Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Wingdings">&uml;</FONT></TD><TD><FONT STYLE="font-size: 10pt">Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>


<!-- Field: Page; Sequence: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.75in; text-align: left">Item 1.01</TD><TD STYLE="text-align: justify">Entry into a Material Definitive Agreement</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify"><U>Extension of UK Financing</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify">On December 19, 2013, Lakeland
Industries Europe, Ltd., a wholly owned subsidiary of Lakeland Industries, Inc. (the &ldquo;Company&rdquo;), entered into a one-year
extension of its existing financing facility with HSBC Invoice Finance (UK) Ltd., pursuant to the same terms as disclosed in the
Company&rsquo;s Form 8-K filed with the SEC on February 22, 2013, except for:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 72.35pt"></TD><TD STYLE="width: 18pt">1.</TD><TD STYLE="text-align: justify">the facility limit was raised from &pound;1,000,000 (approximately USD $1.6 million) to &pound;1,250,000
(approximately USD $2.0 million)</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 72.35pt"></TD><TD STYLE="width: 18pt">2.</TD><TD STYLE="text-align: justify">the prepayment percentage (advance rate) was raised from 80% to 85%. The facility will now have
a due date of December 19, 2014.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.75in"><U>Brazil Financings</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify"><I>New loan with Bank Itau</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify">On December 19, 2013, Lakeland
Brasil, S.A., a wholly owned subsidiary of the Company completed a new loan in the amount of $R500,000 (approximately USD $211,000)
with Bank Itau at an interest rate of 1.53% per month. The proceeds of the loan are primarily for working capital purposes. The
material terms of the loan are as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 85.5pt">Lender: Bank Itau</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 85.5pt">Principal Amount:
$R500,000 (approximately USD $211,000)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 85.5pt">Due Date: July 31,
2014</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 85.5pt">Interest rate: 1.53%
per month</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 85.5pt; text-align: justify">Principal payments: $R76,360,82
monthly commencing January 31, 2014 (approximately USD $32,000)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 85.5pt">Collateral: Customer
contracts</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.75in; text-align: left">Item 2.03</TD><TD STYLE="text-align: justify">Creation of a Direct Financial Obligation or an Obligation
Under an Off-Balance Sheet Arrangement of the Registrant</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -0.75in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in"></TD><TD STYLE="text-align: justify">The disclosures set forth in Item 1.01 are incorporated by reference to this item</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -0.75in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.75in; text-align: left">Item 8.01</TD><TD STYLE="text-align: justify">Other Events</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.75in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.75in"><I>Factoring Agreement</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify">On December 12, 2013, Lakeland
Brasil, S.A., a subsidiary of the Company, completed an arrangement with Valecred Securitizadora Mobiliaria, S.A. to factor, with
recourse, specific invoices totaling $R301,947 (approximately USD $127,000) for a fee of $R7,291 (approximately USD $3,100). This
transaction is not considered material to the Company and is being disclosed along with the transactions reported herein.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.75in; text-align: left">Item 9.01</TD><TD STYLE="text-align: justify">Financial Statements and Exhibits.</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 45pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.75in">Exhibits. The following
exhibits are being furnished herewith:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.5in; text-align: left">10.1</TD><TD STYLE="text-align: justify">Agreement for the Purchase of Debts, dated December 19,
2013</TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.5in; text-align: left">10.2</TD><TD STYLE="text-align: justify">Replacement Schedule, dated December 19, 2013</TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.5in; text-align: left">10.3</TD><TD STYLE="text-align: justify">Loan Agreement dated on December 19, 2013 between Lakeland
Industries, Inc. and Bank Itau in Brazil to borrow R$500.000 (approximately USD $211,000 ) for working capital</TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.5in; text-align: left">10.4</TD><TD STYLE="text-align: justify">Summary of Exhibit 10.3 in English</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify">&nbsp;&nbsp;</P>


<!-- Field: Page; Sequence: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-indent: -0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>SIGNATURES</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Pursuant to the requirements of the Securities Exchange Act
of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="width: 50%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">LAKELAND INDUSTRIES, INC.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Date: &nbsp;December 23, 2013 </FONT></TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">/<I>s/ Gary Pokrassa</I></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Gary Pokrassa</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">CFO</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


<!-- Field: Page; Sequence: 3 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->




<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0">&nbsp;&nbsp;</P>

<P STYLE="margin: 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>EXHIBIT INDEX</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 15%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Exhibit</FONT></TD>
    <TD STYLE="width: 3%">&nbsp;</TD>
    <TD STYLE="width: 82%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Number</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Description</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">10.1</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Agreement for the Purchase of Debts, dated December 19, 2013</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">10.2</FONT></TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">Replacement Schedule, dated December 19, 2013</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">10.3</FONT></TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">Loan Agreement dated on December 19, 2013 between Lakeland Industries, Inc. and Bank Itau in Brazil to borrow R$ 500.000 (approximately USD $211,000 ) for working capital</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">10.4</FONT></TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">Summary of Exhibit 10.3 in English</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>



<P STYLE="margin: 0"></P>

<!-- Field: Page; Sequence: 4; Options: Last -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="margin: 0"></P>

</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-10.1
<SEQUENCE>2
<FILENAME>v363602_ex10-1.htm
<DESCRIPTION>EXHIBIT 10.1
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>Exhibit 10.1</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B>&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>AGREEMENT FOR THE PURCHASE OF DEBTS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Effective date: 19<SUP>th</SUP> December 2013</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">This Schedule replaces the Schedule to the Agreement for the
Purchase of Debts entered into between HSBC Invoice Finance (UK) Limited and <B>Lakeland</B> <B>Industries Europe Limited</B>
<B>04500660 </B>on <B>16<SUP>th</SUP> August 2013</B>. This replacement is made under Condition 29 (<I>Variations</I>) of the
Standard Terms and Conditions that are part of that agreement</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>THE SCHEDULE</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 5%; font-size: 10pt"><B>1.</B></TD>
    <TD STYLE="width: 25%; font-size: 10pt"><B>Client particulars</B></TD>
    <TD STYLE="width: 70%; font-size: 10pt"></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt"><B>Nature of business</B></TD>
    <TD STYLE="font-size: 10pt">Wholesale of safety clothing</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt"><B>Principal place of business</B></TD>
    <TD STYLE="font-size: 10pt">Jet Park 2, 244 Main Road, Newport, East Yorkshire, HU15 2RP</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt"><B>2.&#9;</B></TD>
    <TD STYLE="font-size: 10pt"><B>Product(s) selected</B></TD>
    <TD STYLE="font-size: 10pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt"><B>Finance</B></TD>
    <TD STYLE="font-size: 10pt">Yes</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt"><B>Credit Management</B></TD>
    <TD STYLE="font-size: 10pt">Yes</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt"><B>Credit Protection</B></TD>
    <TD STYLE="font-size: 10pt">Yes</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt"><B>3.&#9;</B></TD>
    <TD STYLE="font-size: 10pt"><B>Commercial terms</B></TD>
    <TD STYLE="font-size: 10pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt"><B>Approved Countries</B></TD>
    <TD STYLE="font-size: 10pt">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;United Kingdom, Ireland, the Isle of
    Man and the Channel Islands</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt"><P STYLE="font: 10pt Times New Roman, Times, Serif">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Abu
                                Dhabi (UAE), Ajman (UAE), American Samoa, Andorra, Anguilla, Australia, Austria, Bahamas, Belgium,
                                Bermuda, Brazil, British Indian Ocean Territory, Brunei, Canada, Cayman Islands, Chile, China,
                                Cyprus, Czech Republic, Denmark, Dubai (UAE), Estonia, Falkland Isles, Faroe Islands, Finland,
                                France, French Guiana, French Polynesia, French Southern Territories, Fujairah (UAE), Germany,
                                Gibraltar, Greece, Greenland, Guadeloupe, Guam, Hong Kong, Israel, Italy, Japan, Kuwait, Liechtenstein,
                                Luxembourg, Macau, Malaysia, Malta, Martinique, Mauritius, Mayotte, Mexico, Monaco, Montserrat,
                                Netherlands, New Caledonia, New Zealand, Norway, Northern Mariana Is., Oman, Peru, Poland, Portugal
                                (Madeira), Portugal, Puerto Rico, Qatar, Ras Al-Khaimah (UAE), Reunion, Saint Helena, Sharjah
                                (UAE), Saudi Arabia, St Pierre &amp; Miquelon, San Marino, Singapore, Slovakia, Slovenia, South
                                Africa, South Korea, Spain (Canary Islands), Spain, Sweden, Switzerland, Taiwan, Trinidad &amp;
                                Tobago, Turks &amp; Caicos Islands, Umm Al-Qaiwain (UAE), United Arab Emirates, United States
                                of America, US Minor Outlying Islands, Vatican City State, Virgin Islands (US &amp; British) and
                                Wallis &amp; Futuna Islands.</P></TD></TR>
</TABLE>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0"></P>

<!-- Field: Page; Sequence: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt; width: 5%">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; width: 25%">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; width: 70%">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Bosnia, Hungary, Lithuania, Montenegro, Morocco,
    Romania &amp; Turkey</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt"><B>Automatic Funding Limit</B></TD>
    <TD STYLE="font-size: 10pt">United Kingdom, Ireland, the Isle of Man and the Channel Islands: &pound; 50,000</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt">Other countries: &pound; 50,000</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 5%">&nbsp;</TD>
    <TD STYLE="width: 25%"><B>Client to give notice of</B> <B>assignment to Customers</B></TD>
    <TD STYLE="width: 70%; padding-left: 0.5in">Yes</TD>
    </TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD></TD>
    <TD>&nbsp;</TD>
    </TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><B>Commencement Date</B></TD>
    <TD STYLE="padding-left: 0.5in">30 January 2013</TD>
    </TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><B>Concentration Percentage</B></TD>
    <TD>30 per cent</TD>
    </TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><B>Debtor Currencies</B></TD>
    <TD>Sterling and Euro</TD>
    </TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><B>Debt Turn Target</B></TD>
    <TD>United Kingdom, Ireland, the Isle of Man and the Channel Islands: 90 days</TD>
    </TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD></TD>
    <TD>Other countries: 90 days</TD>
    </TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><B>Facility Limit</B></TD>
    <TD>&pound; 1,250,000</TD>
    </TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><B>Law</B></TD>
    <TD>English law governs this Agreement</TD>
    </TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><B>Minimum Period</B></TD>
    <TD>12 Months</TD>
    </TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><B>Non-Notifiable Debt</B></TD>
    <TD>The following are additional categories of Non-Notifiable Debt:</TD>
    </TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>Debts arising from contracts of sale entered into with your customer Elite Supplies Limited (registration number 06309981)
    and PPG Clothing Limited (SC386962)</TD>
    </TR>
</TABLE>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0"></P>

<!-- Field: Page; Sequence: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 5%">&nbsp;</TD>
    <TD STYLE="width: 25%"><B>Notice Period</B></TD>
    <TD STYLE="width: 70%; padding-left: 0.125in">3 Months</TD>
    </TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><B>Prepayment Currencies</B></TD>
    <TD STYLE="padding-left: 0.125in">Sterling and Euro</TD>
    </TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><B>Prepayment Percentage</B></TD>
    <TD STYLE="padding-left: 0.125in">85 per cent</TD>
    </TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><B>Reduction Percentage</B></TD>
    <TD STYLE="padding-left: 0.5in">N/A</TD>
    </TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><B>Standard Payment Terms</B></TD>
    <TD STYLE="padding-left: 0.125in">United Kingdom, Ireland, the Isle of Man and the Channel Islands: Not exceeding net 60 days from date of invoice</TD>
    </TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-left: 0.125in">Other countries: Not exceeding net 90 days from date of invoice</TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 5%"><B>4.</B></TD>
    <TD STYLE="width: 25%"><B>Pricing</B></TD>
    <TD STYLE="width: 70%"></TD>
    </TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    </TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><B>Allowance Margin</B></TD>
    <TD STYLE="padding-left: 0.125in">2.50 per cent</TD>
    </TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    </TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><B>Arrangement Fee</B></TD>
    <TD STYLE="padding-left: 0.125in">N/A</TD>
    </TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    </TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><B>Discounting Margin</B></TD>
    <TD STYLE="padding-left: 0.125in">3.46 per cent</TD>
    </TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    </TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><B>Facility Review Fee</B></TD>
    <TD STYLE="padding-left: 0.125in">Nil</TD>
    </TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    </TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><B>Other fees</B></TD>
    <TD STYLE="padding-left: 0.125in">Fees will be payable for:</TD>
    </TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    </TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-left: 0.125in">(a) any variation to the terms of this Agreement;</TD>
    </TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    </TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-left: 0.125in">(b) the release of any Security Interest;</TD>
    </TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    </TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-left: 0.125in">(c) new Security Interests to be granted to HIF or any third party.</TD>
    </TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    </TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><B>Service Charge</B></TD>
    <TD>For Approved Countries listed in paragraphs&nbsp;&nbsp;(a), (b) &amp; (c) 0.935 per cent of the Notified value of each
    Debt, subject to a minimum of &pound; 42,500 per annum calculated in respect of each period of one year starting on the first
    day of the month following the Commencement Date and each anniversary thereafter</TD>
    </TR>
</TABLE>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0"></P>

<!-- Field: Page; Sequence: 3 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 5%"><B>5.</B></TD>
    <TD STYLE="width: 25%"><B>Credit Protection</B></TD>
    <TD STYLE="width: 70%"></TD>
    </TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    </TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><B>Automatic Credit Protection</B></TD>
    <TD>United Kingdom, Ireland, the Isle of Man and the Channel</TD>
    </TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    </TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><B>Limit</B></TD>
    <TD>Islands: &pound; 3,000</TD>
    </TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    </TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>Other countries: N/A</TD>
    </TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    </TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><B>Credit Protection</B></TD>
    <TD>United Kingdom, Ireland, the Isle of Man and the Channel</TD>
    </TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    </TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><B>Percentage</B></TD>
    <TD>Islands: 100 per cent</TD>
    </TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    </TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>Other countries: 90 per cent</TD>
    </TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    </TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><B>First Loss</B></TD>
    <TD>United Kingdom, Ireland, the Isle of Man and the Channel</TD>
    </TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    </TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>Islands: &pound; 1,000</TD>
    </TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    </TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>Other countries: &pound; 1,000</TD>
    </TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    </TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><B>Unprotected Debts at the</B> <B>Commencement Date</B></TD>
    <TD>At the Commencement Date any Debt which is unpaid 60 days or more after the due date for payment and any other Debts of the same Customer</TD>
    </TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    </TR>
<TR STYLE="vertical-align: top">
    <TD><B>6.</B></TD>
    <TD><B>Covenants</B></TD>
    <TD></TD>
    </TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    </TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><B>Debt Turn Covenant</B></TD>
    <TD>N/A</TD>
    </TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    </TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><B>Dilution Percentage</B></TD>
    <TD>N/A</TD>
    </TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    </TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><B>Dispute Percentage</B></TD>
    <TD>N/A</TD>
    </TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    </TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><B>Tangible Net Worth</B></TD>
    <TD>N/A</TD>
    </TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    </TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><B>Covenant</B></TD>
    <TD>&nbsp;</TD>
    </TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    </TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">The covenants listed above shall be tested at the following times:</TD>
    </TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    </TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><B>Testing Day</B></TD>
    </TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    </TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><B>Debt Turn</B></TD>
    <TD>Final day of each calendar month</TD>
    </TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    </TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><B>Dilution Percentage</B></TD>
    <TD>Final day of each calendar month</TD>
    </TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    </TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><B>Dispute Percentage</B></TD>
    <TD>Final day of each calendar month</TD>
    </TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 5%; font-size: 10pt"><B>7.</B></TD>
    <TD STYLE="width: 95%; font-size: 10pt"><B>Special terms</B></TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"><TR STYLE="vertical-align: top">
<TD STYLE="width: 5%">(a)</TD><TD STYLE="width: 95%">In addition to the undertakings given by the Client in Condition
                                         17, the Client also undertakes:</TD></TR>
</TABLE>



<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 5%"></TD><TD STYLE="width: 5%">(i)</TD><TD STYLE="text-align: justify; width: 90%">To ensure that:</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<!-- Field: Page; Sequence: 4 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 10%"></TD><TD STYLE="width: 5%; padding-left: 0in">(A)</TD><TD STYLE="text-align: justify; width: 85%">where necessary, the Client and/or
                                         the Customer possess all licences required to export/import the relevant goods; and</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 10%"></TD><TD STYLE="width: 5%">(B)</TD><TD STYLE="text-align: justify; width: 85%">the Client and the Customer comply
                                         with all laws and/or regulations applicable to the import or export of the relevant goods
                                         including, but not limited to, any exchange control regulations; and</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 5%"></TD><TD STYLE="width: 5%">(ii)</TD><TD STYLE="text-align: justify; width: 90%">To provide HIF, each year, with
                                         a declaration (&ldquo;Annual Declaration&rdquo;) of the Client&rsquo;s total sales to
                                         Customers located in each Approved Country in a form specified by HIF, for the period
                                         of 12 months (or part thereof) ending 31 March (or for such other period as HIF may specify
                                         from time to time). Such declaration to be supplied to HIF within 30 days of the end
                                         of the relevant period.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"><TR STYLE="vertical-align: top">
<TD STYLE="width: 5%">(b)</TD><TD STYLE="width: 95%">Where a Credit Protection Limit is expressed in a currency other
                                         than that in which the Debt payable by the relevant Customer is expressed and/or the
                                         currency in which the purchase price is payable, then for the purposes of calculating
                                         any amount payable by HIF to the Client under the provisions of Condition 11.6, the Spot
                                         Rate of Exchange on the date of payment shall be used. Any gains or losses, resulting
                                         from fluctuation in exchange rates will be for the account of the Client.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"><TR STYLE="vertical-align: top">
<TD STYLE="width: 5%">(c)</TD><TD STYLE="width: 95%">HIF will not provide Credit Protection in respect of any particular
                                         Debt if:</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 5%"></TD><TD STYLE="width: 5%">(i)</TD><TD STYLE="text-align: justify; width: 90%">the Debt arose after any expiry
                                         date notified by HIF to the Client in respect of the relevant Credit Protection Limit;
                                         or</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 5%"></TD><TD STYLE="width: 5%">(ii)</TD><TD STYLE="text-align: justify; width: 90%">there has been any breach by the
                                         Client of any term specified by HIF as being a condition of its approval of the relevant
                                         Credit Protection Limit</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.7in"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 5%"></TD><TD STYLE="text-align: justify; width: 90%">The provisions of this special term are in addition
to, and not in replacement of, the provisions of Condition 11.4.</TD></TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.7in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"><TR STYLE="vertical-align: top">
<TD STYLE="width: 5%">(d)</TD><TD STYLE="width: 95%">For the purposes of Condition 11.4 (f) events of &ldquo;force majeure&rdquo;
                                         shall include</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 5%"></TD><TD STYLE="width: 5%; text-align: left">(i)</TD><TD STYLE="text-align: justify; width: 90%">the ionising,
                                         radioactive, toxic, explosive or other hazardous or contaminating properties or effects
                                         of any explosive nuclear assembly or component thereto, nuclear fuel, combustion or waste;
                                         and</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 5%"></TD><TD STYLE="width: 5%; text-align: left">(ii)</TD><TD STYLE="text-align: justify; width: 90%">where goods
                                         are to be despatched to, or payment is to be made from, a country other than that in
                                         which the Customer is located, any event preventing or delaying the issue of a remittance
                                         from such third country.</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">HSBC Invoice Finance (UK) Limited is, at the date of this Agreement,
a member of the Asset Based Finance Association (&ldquo;ABFA&rdquo;) and abides by its terms of membership. Under its Memorandum
of Association, publicly filed at Companies House, ABFA is not a public regulatory authority and has no financial or other responsibility
to anyone arising out of the actions and dealings of its members. The ABFA has provided and/or will provide a Code of Conduct,
guidance and a complaints procedure each of which can be viewed on its website at <U>www.ABFA.org.uk</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<!-- Field: Page; Sequence: 5; Options: Last -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-10.2
<SEQUENCE>3
<FILENAME>v363602_ex10-2.htm
<DESCRIPTION>EXHIBIT 10.2
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>Exhibit 10.2</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>For the attention of The Directors</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Lakeland Industries Ltd</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Jet Park 2 Industrial Estate</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Units 9-10</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">244 Main Road</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Newport</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">HU15 2RP</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">19<SUP>th</SUP> December 2013</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">VB/1675788</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Dear Sirs</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Replacement Schedule &ndash; Changes to Facility Limit &amp;
Prepayment Percentage</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">Following our recent discussions, please find
enclosed the replacement Schedule to the Agreement for the Purchase of Debts.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">Unless you have any questions about the changes
we have made you do not need to take any further action.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>We are of course happy to answer any questions you may have
regarding our documentation but you should not regard this as a substitute for taking your own legal advice.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Yours faithfully</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">For and on behalf of</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>HSBC Invoice Finance (UK) Ltd</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><img src="tsig.jpg"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Jane L Simpson</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Invoice Finance Manager</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Tel: 08455 858199</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>




<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<!-- Field: Page; Sequence: 1; Options: Last -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-10.3
<SEQUENCE>4
<FILENAME>v363602_ex10-3.htm
<DESCRIPTION>EXHIBIT 10.3
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 273pt; text-align: right; text-indent: 15pt"><B>Exhibit 10.3</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 273pt; text-indent: -273pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 273pt; text-indent: -273pt">Subcarteira N&deg; da Operacao
556-1 / 24772910-6</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 60%; font-size: 12pt"><FONT STYLE="font-size: 10pt">ltau Unibanco S.A. </FONT></TD>
    <TD STYLE="width: 40%"><FONT STYLE="font-size: 10pt">Cedula de Credito Bancario</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">Emprestimo para Capital de Giro</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">Garantido por Duplicata (Giropre -DP &ndash;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">Parcelas Iguais/Flex)</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;&nbsp;</P>

<!-- Field: Rule-Page --><DIV ALIGN="LEFT" STYLE="margin-top: 0; margin-bottom: 0"><DIV STYLE="font-size: 1pt; border-top: Black 1pt solid; width: 75%">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Nome empresarial do emitente</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><U>Lakeland Brasil, S.A.</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;&nbsp;</P>

<!-- Field: Rule-Page --><DIV ALIGN="LEFT" STYLE="margin-top: 0; margin-bottom: 0"><DIV STYLE="font-size: 1pt; border-top: Black 1pt solid; width: 75%">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Qualificado(a) na proposta de abertura da conta corrente de
deposito indicada no subitem 1.14,</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">designado Cliente</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 22.5pt; text-align: justify; text-indent: -22.5pt"></P>

<!-- Field: Rule-Page --><DIV ALIGN="LEFT" STYLE="margin-top: 0; margin-bottom: 0"><DIV STYLE="font-size: 1pt; border-top: Black 1pt solid; width: 100%">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 22.5pt; text-align: justify; text-indent: -22.5pt"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0%"></TD><TD STYLE="width: 27.5pt"><B>1.</B></TD><TD STYLE="text-align: justify"><B>Dados da Cedula de Credlto Bancario </B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 22.5pt; text-align: justify; text-indent: -22.5pt"><B>&nbsp;</B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 96%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; margin-left: 22.5pt">
<TR>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">1.1. Data</TD>
    <TD COLSPAN="3" STYLE="border-right: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">1.2. Conta vinculada</TD>
    <TD STYLE="vertical-align: top; border-right: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">1.3. Valor entregue</TD>
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">1.4 .Valor do IOF</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 19%; border-right: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">19.12.2013</P></TD>
    <TD STYLE="width: 10%; border-right: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-size: 10pt">Agencia</FONT></TD>
    <TD STYLE="width: 14%; border-right: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-size: 10pt">&nbsp;&nbsp;Conta n&deg;</FONT></TD>
    <TD STYLE="width: 8%; border-right: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-size: 10pt">DAC</FONT></TD>
    <TD STYLE="width: 29%; border-right: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 20%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-size: 10pt">1576</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-size: 10pt">21707</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-size: 10pt">7</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-size: 10pt">R$ 500.000,00</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-size: 10pt">R$ 4.672,65</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 95%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; margin-left: 22.5pt">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 24%; border-right: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">1.5. Valor da Tarifa de</TD>
    <TD STYLE="width: 30%; border-right: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">1.6. Valor total emprestado</TD>
    <TD STYLE="width: 21%; border-right: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">1.7. Vencimento da</TD>
    <TD STYLE="width: 25%; border-right: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">1.8. Comissao de</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">Contractacao (TAC)</TD>
    <TD STYLE="border-right: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">(valor entregue,mais IOF</TD>
    <TD STYLE="border-right: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">Cedula&#9;</TD>
    <TD STYLE="border-right: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">concessao de credito</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">e TAC, se financiados)</TD>
    <TD STYLE="border-right: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">R$3.000.00</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">R$ 500.000,00</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">31.07.2014</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">0.00%</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0%"></TD><TD STYLE="width: 27.5pt; text-align: left"><B>1.9.</B></TD><TD STYLE="text-align: justify"><B>Taxa de Juros remuneratorios</B></TD>
</TR></TABLE>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 96%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; margin-left: 22.5pt">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 33%; border-right: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 28%; border-right: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-size: 10pt">1.9.2 Ao ana (360 dias)</FONT></TD>
    <TD STYLE="width: 39%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-size: 10pt">1.9.3. Periodicidade de capitalizacao</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-size: 10pt">[&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;] sim&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;]</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-size: 10pt">19,98%</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-size: 10pt">&nbsp;MENSAL</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 45%"><B>1.10. &nbsp;&nbsp;&nbsp;Codigo da garantia</B></TD>
    <TD STYLE="width: 55%; text-align: justify">1.11. Conta Corrente de Deposito</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 95%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; margin-left: 22.5pt">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 25%; border-right: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">1.10.1. Codigo (uso interno Do Banco)</TD>
    <TD STYLE="width: 22%; border-right: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">1.10.2 Percentual</TD>
    <TD STYLE="width: 22%; border-right: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">Agencia</TD>
    <TD STYLE="width: 22%; border-right: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">Conta N&deg;</TD>
    <TD STYLE="width: 9%; border-right: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">DAC</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 22.5pt; text-align: left"><B>1.12.</B></TD><TD STYLE="text-align: justify">&nbsp;&nbsp;&nbsp;<B>Forma de pagamento em parcelas iguais</B></TD>
</TR></TABLE>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 95%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; margin-left: 22.5pt">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 22%; border-right: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">1.12.1. Quantidade de Parcelas</TD>
    <TD STYLE="width: 28%; border-right: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">1.12.2. Valor de cada par (principal e juros)cela</TD>
    <TD STYLE="width: 26%; border-right: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">1.12.3.Data de vencimento da primeira parcela&#9;</TD>
    <TD STYLE="width: 24%; border-right: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">1.12.4 Perido entre parcelas</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><B>12</B></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">R$ 76.360,82</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">31/01/2014</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">1 M&Ecirc;S</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>


<!-- Field: Page; Sequence: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 22.5pt; text-align: left"><B>1.13.</B></TD><TD STYLE="text-align: justify"><B>Forma de pagamento em parcelas diferentes ou periodicidade
nso uniforme</B></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 9%; border: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Parcel</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">a</P></TD>
    <TD STYLE="width: 13%; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Venciment</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">o</P></TD>
    <TD STYLE="width: 23%; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Valor do principal</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">da parcela em R$</P></TD>
    <TD STYLE="width: 10%; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">Parcela</TD>
    <TD STYLE="width: 13%; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Venciment</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">o</P></TD>
    <TD STYLE="width: 32%; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Valor do principal da</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">parcela em R$</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">001</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">031</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">002</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">032</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">003</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">033</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">004</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">034</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">005</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">035</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">006</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">036</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">007</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">037</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">008</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">038</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">009</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">039</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">010</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">040</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">011</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">041</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">012</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">042</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">013</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">043</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">014</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">044</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">015</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">045</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">016</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">046</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">017</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">047</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">018</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">048</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">019</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">049</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">020</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">050</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">021</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">051</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">022</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">052</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">023</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">053</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">024</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">054</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">025</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">055</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">026</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">056</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">027</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">057</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">028</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">058</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">029</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">059</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">030</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">060</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 49%; text-align: justify">1.14. &nbsp;Local de emissao</TD>
    <TD STYLE="width: 51%; padding-left: 27pt; text-align: justify">1.15. Local de pagamento</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 27pt; text-align: justify">Salvador, <B>Bahia</B></TD>
    <TD STYLE="text-align: justify">Salvador, <B>Bahia</B></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;&nbsp;</P>

<!-- Field: Rule-Page --><DIV ALIGN="LEFT" STYLE="margin-top: 0; margin-bottom: 0"><DIV STYLE="font-size: 1pt; border-top: Black 1pt solid; width: 100%">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Ate a data de vencimento indicada
no subitem 1.7 ,pagaremos por esta Cedula de Credito <B>Banc&aacute;rio</B> (Cedula&quot;) ao Itau Unibanco S.A., com sede na
<FONT STYLE="font-size: 10pt">Praca </FONT>Alfredo Egydio de Souza Aranha, 100, Torre Olavo Setubal, Sao Paulo, SP, CNPJ n&deg;
60.701.190/0001-04, designado <FONT STYLE="font-size: 10pt"><B>ltau Unibanco, </B></FONT>a divida em dinheiro, certa, liquida
e exigivel, correspondente ao valor total emprestado indicado no subitem 1.6 mais os encargos aqui previstos, conforme descritos
nos itens 3 e 4.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>


<!-- Field: Page; Sequence: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<!-- Field: Rule-Page --><DIV ALIGN="LEFT" STYLE="margin-top: 0; margin-bottom: 0"><DIV STYLE="font-size: 1pt; border-top: Black 1pt solid; width: 100%">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>2. Objeto -O Itau Unibanco </B>emprestara
a nos o valor constante do subitem 1.6, mediante credito na conta corrente de deposito indicada no subitem 1.11, desde que constitu&iacute;das
as garantias previstas no item &quot;Garantias&quot; desta C&eacute;dula.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 13.5pt; text-align: justify; text-indent: -13.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 13.5pt; text-align: justify; text-indent: -13.5pt"></P>

<!-- Field: Rule-Page --><DIV ALIGN="LEFT" STYLE="margin-top: 0; margin-bottom: 0"><DIV STYLE="font-size: 1pt; border-top: Black 1pt solid; width: 100%">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 13.5pt; text-align: justify; text-indent: -13.5pt">3. <B>Modo
de Pagamento -</B>Pagaremos todos os valores por nos devidos em decorr&ecirc;ncia desta C&eacute;dula mediante debito que o <B>Itau
Unibanco f</B>ara na conta corrente de deposito indicada no subitem 1.11, que devera ter saldo dispon&iacute;vel suficiente, para
o que fica, desde ja, o <B>Itau Unibanco </B>expressamente autorizado.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 45pt; text-align: justify; text-indent: -0.25in">3.1.A insufici&ecirc;ncia
de saldo dispon&iacute;vel na conta corrente de deposito configurara atraso no pagamento.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -27pt">3.1.1. O<B>
Itau Unibanco </B>poder&aacute;, a seu crit&eacute;rio, transferir valores da conta vinculada indicada no subitem 1.2 para a conta
corrente de deposito indicada no subitem 1.11 para nela gerar saldo suficiente para acolher os d&eacute;bitos.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-align: justify; text-indent: -0.5in">3.1.1.1.
Se, mesmo apos a transfer&ecirc;ncia referida do subitem 3.1.1 0 saldo da conta corrente de deposito for insuficiente, o <B>Itau
Unibanco, </B>a seu exclusivo crit&eacute;rio, poder&aacute; efetuar o debito gerando adiantamentos a depositante, nos termos do
contrato de abertura da conta corrente de deposito do subitem 1.11 .</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-align: justify; text-indent: -0.5in">3.1.1.2.
O deposito de valores na conta corrente de deposito amortizara primeiro os adiantamentos a depositante que n&atilde;o tiveram origem
nesta C&eacute;dula e depois os adiantamentos a depositante originados pelos d&eacute;bitos relacionados com esta Cedula.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<!-- Field: Rule-Page --><DIV ALIGN="LEFT" STYLE="margin-top: 0; margin-bottom: 0"><DIV STYLE="font-size: 1pt; border-top: Black 1pt solid; width: 100%">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 13.5pt; text-align: justify; text-indent: -13.5pt"><B>4.
Pagamento -</B>Pagaremos ao <B>Itau Unibanco o</B> valor total emprestado indicado no subitem 1.6, acrescido de juros capitalizados
a taxa do subitem 1.9, conforme estipulado nos subitens 1.12 ou 1.13.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 13.5pt; text-align: justify; text-indent: -13.5pt">4.1. No
caso de parcelas iguais indicadas no subitem 1 .12, o valor de cada parcela e o indicado no subitem 1.12.2, composto de principal
e juras, e ser&aacute; debitado na data do respectivo vencimento; a primeira parcela vencera na data indicada no subitem 1.12.3
e as demais <FONT STYLE="font-size: 10pt">vencer&atilde;o a cada per&iacute;odo indicado no subitem 1.12.4, a partir da data de
vencimento da primeira parcela. </FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 53.25pt; text-align: justify; text-indent: -30.9pt">4.1.1
.. Os juros ser&atilde;o apurados pela aplica&ccedil;&atilde;o da taxa do subitem 1.9 sobre o saldo devedor desta C&eacute;dula,
calculados conforme Tabela Price.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 100pt; text-align: justify; text-indent: -42.4pt">4.1.1.1.
Para fins deste item 4.1.1, entende-se por Tabela Price o sistema de imputa&ccedil;&atilde;o do pagamento em que o percentual de
principal e o percentual de juros de cada parcela variam no correr do tempo, de modo a manter-se constante o valor de cada parcela.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 22.35pt; text-align: justify; text-indent: -22.4pt">4.2.
No caso da forma de pagamento, indicada no subitem 1.13, o valor de cada parcela ser&aacute; acrescido de juros, desde a data da
opera&ccedil;&atilde;o ate 0 vencimento da respectiva parcela, e ser&aacute; debitado na data de vencimento indicada no subitem
1.13.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 22.5pt; text-align: justify; text-indent: -22.5pt">4.3.O
ITAU UNIBANCO PODERA NOS REPASSAR o VALOR DE TRIBUTOS E ENCARGOS QUE VENHAM A SER CRIADOS, BEM COMO o AUMENTO DOS ATUAIS, EXIGIVEIS
PELAS AUTORIDADES COMPETENTES EM RAZAO DESTA CEDULA. OITAU UNIBANCO NOS INFORMARA SOBRE AS ALTERACOES ANTES DO INICIO DA COBRANCA
DO VALOR A SER REPASSADO.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 22.6pt; text-align: justify; text-indent: -22.65pt">4.4.o
RECEBIMENTO, PELO ITAU UNIBANCO, DE DETERMINADA PARCELA NAO SIGNIFICARA QUITACAO DAS ANTERIORES.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 22.6pt; text-align: justify; text-indent: -22.65pt">4.5.A
comiss&atilde;o de concess&atilde;o de credito indicada no subitem 1.8, incidente sobre o valor emprestado indicado no subitem
1.6, ser&aacute; debitada nesta data da conta corrente de deposito indicada no subitem 1.11.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 56.75pt; text-align: justify; text-indent: -34pt">4.5.1.
Se ocorrer liquida&ccedil;&atilde;o antecipada ou vencimento antecipado desta C&eacute;dula, o Ita&uacute; Unibanco nos devolvera
a comiss&atilde;o de concess&atilde;o de credito em valor calculado de forma proporcional ao per&iacute;odo compreendido entre
a data de liquida&ccedil;&atilde;o antecipada ou vencimento antecipado e a data de vencimento originalmente contratada. comiss&atilde;o
de concess&atilde;o de credito proporcional ao tempo n&atilde;o decorrido.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 56.75pt; text-align: justify; text-indent: -34pt">&nbsp;</P>


<!-- Field: Page; Sequence: 3 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 56.75pt; text-align: justify; text-indent: -34pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">4.6. Pagaremos o Imposto sobre Opera&ccedil;&otilde;es
Financeiras (IOF) conforme a legisla&ccedil;&atilde;o em vigor.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 22.5pt">4.6.1. Se o IOF for
financiado, o seu valor ser&aacute; inclu&iacute;do nas parcelas.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: -0.25in">4.7. Os
encargos previstos nesta C&eacute;dula Guros, comiss&atilde;o de concess&atilde;o de credito, taxa efetiva de juros, mensal e anual,
tributos e contribui&ccedil;&otilde;es, tarifas e outras despesas) ser&atilde;o a n6s informados, imediatamente apos a sua apura&ccedil;&atilde;o,
em planilha aparte, a qual integrara essa C&eacute;dula. .</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">5</TD><TD STYLE="text-align: justify">Devedores Solid&aacute;rios -As pessoas ao final nomeadas, designadas Devedores Solid&aacute;rios,
declaram-se solidariamente respons&aacute;veis por todas as obriga&ccedil;&otilde;es por nos assumidas e assinam esta C&eacute;dula,
concordando com os seus termos.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">6</TD><TD STYLE="text-align: justify">Garantia -Para garantir o pagamento de qualquer valor relacionado a esta C&eacute;dula, mesmo decorrente
de adiantamentos a depositante, damos ao Ita&uacute; Unibanco isolada ou cumulativamente as seguintes garantias:</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 36.85pt; text-align: justify; text-indent: -22.65pt">6.1.
Cess&atilde;o fiduci&aacute;ria dos direitos sobre os cr&eacute;ditos por nos entregues ao Ita&uacute; Unibanco para presta&ccedil;&atilde;o
de servi&ccedil;os de cobran&ccedil;a, discriminados em rela&ccedil;&atilde;o anexa, atrav&eacute;s de fita magn&eacute;tica ou
de teleprocessamento, que tara parte desta C&eacute;dula; ou cess&atilde;o fiduci&aacute;ria, se os t&iacute;tulos representativos
dos cr&eacute;ditos forem entregues endossados ao Ita&uacute; Unibanco;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 70.1pt; text-align: justify; text-indent: -33.75pt">6.1.1.
os cr&eacute;ditos dados em garantia ser&atilde;o pass&iacute;veis nas pra&ccedil;as onde o Ita&uacute; Unibanco tiver ag&ecirc;ncia,
ter&atilde;o por devedores pessoas n&atilde;o Iigadas a nos, designados Devedores, e ser&atilde;o em valor nunca inferior ao percentual
de garantia indicado no subitem 1.10 sobre o saldo devedor desta C&eacute;dula;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 71pt; text-align: justify">6.1.1.1. obrigamo-nos a notificar
aos Devedores a garantia constitu&iacute;da;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 70.6pt; text-align: justify; text-indent: -33.75pt">6.1 .2.
o Ita&uacute; Unibanco selecionara os cr&eacute;ditos dados em garantia, podendo recusar qualquer urn deles e, a qualquer tempo,
pedir a substitui&ccedil;&atilde;o de titulo ou credito anteriormente aceito;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 114pt; text-align: justify; text-indent: -42.75pt">6.1.2.1.
os cr&eacute;ditos vencidos e n&atilde;o pagos, automaticamente, deixar&atilde;o de integrar a garantia;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 114pt; text-align: justify; text-indent: -42.25pt">6.1.2.2.
enquanto n&atilde;o substitu&iacute;dos, os cr&eacute;ditos recusados e os vencidos ter&atilde;o o produto de sua cobran&ccedil;a
creditado na conta vinculada;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 70.6pt; text-align: justify; text-indent: -33.75pt">6.1.3.
pagaremos, no ate da entrega dos cr&eacute;ditos, a tarifa de cobran&ccedil;a constante da Tabela de Tarifas, afixada nas ag&ecirc;ncias.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 70.6pt; text-align: justify; text-indent: -33.75pt">6.1.4.
se optarmos pela confec&ccedil;&atilde;o e entrega do documento de cobran&ccedil;a diretamente por n6s aos Devedores, obrigamo-nos
a fazer constar desses documentos a inscri&ccedil;&atilde;o &quot;credito dado em garantia ao Ita&uacute; Unibanco S.A., pagar
somente atrav&eacute;s da rede bancaria&quot;;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 55.6pt; text-align: justify; text-indent: -33.4pt">6.1.5.
o Ita&uacute; Unibanco creditara na conta vinculada indicada no subitem 1.2 0 produto da cobran&ccedil;a dos cr&eacute;ditos dados
em garantia;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 55.85pt; text-align: justify; text-indent: -33.65pt">6.1
..6. o Ita&uacute; Unibanco transferira para a conta corrente de dep6sito indicada no subitem 1 .14 0 saldo credor da conta vinculada
indicada no subitem 1.2 que exceder ao percentual contratado da garantia indicado no subitem 1.10 sobre o saldo devedor desta C&eacute;dula;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 56.75pt; text-align: justify; text-indent: -34pt">6.1 .7.
na hip6tese de atraso no pagamento ou de vencimento antecipado, autorizamos o Ita&uacute; Unibanco a negociar os cr&eacute;ditos
dados em garantia e aplicar o produto da negocia&ccedil;&atilde;o na amortiza&ccedil;&atilde;o ou liquida&ccedil;&atilde;o da d&iacute;vida;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">6.2.</TD><TD STYLE="text-align: justify">Aval, se exigido pelo Ita&uacute; Unibanco, que poder&aacute; ser prestado por meio de documento
anexo, integrante desta C&eacute;dula.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">6.3.</TD><TD STYLE="text-align: justify">outras garantias adicionais, se exigidas pelo Ita&uacute; Unibanco, prestadas pcr meio de documentos
anexos, parte integrante desta C&eacute;dula.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 22.35pt; text-align: justify; text-indent: -22.4pt">6.4.
Substituiremos a(s) garantia(s) na hip&oacute;tese de perda de seu objeto, ou as refor&ccedil;aremos na de diminui&ccedil;&atilde;o
ou insufici&ecirc;ncia do seu valor.</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0pt"></TD><TD STYLE="width: 18pt">7.</TD><TD STYLE="text-align: justify">Liquida&ccedil;&atilde;o antecipada -o prazo de nossas obriga&ccedil;&otilde;es decorrentes desta
C&eacute;dula foi estabelecido no interesse de ambas as partes, de forma que o pagamento antecipado, inclusive na hip6tese de pagamento
antecipado mediante recebimento pelo Ita&uacute; Unibanco de recursos de outra institui&ccedil;&atilde;o financeira, constitui
cumprimento de obriga&ccedil;&atilde;o fora do prazo. Preestabelecemos, assim, que o saldo devedor na data do pagamento antecipado
consistira no valor do principal n&atilde;o amortizado, acrescido: (i) dos encargos pactuados nesta C&eacute;dula para o per&iacute;odo
decorrido ate a data do pagamento antecipado; (ii) dos encargos vincendos desde a data de vencimento antecipado ate a data de vencimento
originalmente pactuada, calculados a valor presente, mediante des&aacute;gio desses valores, tendo pcr base os encargos remunerat&oacute;rios
indicados nesta C&eacute;dula; e (iii) de eventual indeniza&ccedil;&atilde;o prevista no subitem 7.2 abaixo.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&nbsp;</P>


<!-- Field: Page; Sequence: 4 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">7.1. Fica
estabelecido que a amortiza&ccedil;&atilde;o antecipada, nos termos deste item 7, devera ser realizada tendo valor m&iacute;nimo
correspondente a 1 (uma) parcela prevista no pre&acirc;mbulo, n&atilde;o sendo poss&iacute;vel pagamento antecipado parcial de
parcela.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">7.2. Fica
estabelecido que, no momento do pagamento antecipado, o Ita&uacute; Unibanco far&aacute; o calculo do valor presente do fluxo de
pagamentos representativo das parcelas vincendas, desde as datas de vencimento original mente pactuadas, mediante o des&aacute;gio
desse fluxo, tendo por base a taxa de juros vigente para a aplica&ccedil;&atilde;o de recursos a nos dispon&iacute;vel no momento
do pagamento antecipado. Caso o valor presente desse fluxo seja superior ao valor calculado nos termos do item 7(ii), acima, a
diferen&ccedil;a a maior consistira em indeniza&ccedil;&atilde;o por nos devida ao Ita&uacute; Unibanco a titulo de recomposi&ccedil;&atilde;o
de seu custo de aplica&ccedil;&atilde;o capta&ccedil;&atilde;o.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">7.3. Se,
na data da contrata&ccedil;&atilde;o, formos comprovadamente microempresa ou empresa de pequeno porte nos termos da legisla&ccedil;&atilde;o
aplic&aacute;vel, o Ita&uacute; Unibanco calculara o Valor Presente da opera&ccedil;&atilde;o como segue:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 63pt; text-align: justify; text-indent: -27pt">7.3.1. se
o prazo a decorrer for de ate 12 (doze) meses ou se a amortiza&ccedil;&atilde;o ou a liquida&ccedil;&atilde;o antecipada ocorrer
em ate 7 (sete) dias da contrata&ccedil;&atilde;o, com a aplica&ccedil;&atilde;o da taxa de juros remunerat&oacute;rios do contrato
conforme indicada no subitem 1.10.1;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 63pt; text-align: justify; text-indent: -27pt">7.3.2. se
o prazo a decorrer for superior a 12 (doze) meses, com a aplica&ccedil;&atilde;o da Taxa de Desconto resultante da taxa de juros
remunerat&oacute;rios indicada no subitem 1.11, deduzida a taxa SELIC aplic&aacute;vel na data da contrata&ccedil;&atilde;o e acrescida
da Taxa Selic do dia da amortiza&ccedil;&atilde;o ou liquida&ccedil;&atilde;o antecipada.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 63pt; text-align: justify; text-indent: -27pt">7.3.2.1.
Para os fins deste item 7, entende-se por ''Taxa SELIC&quot; a taxa de juros fixada pelo Conselho de Politica Monet&aacute;ria
e divulgada pelo Banco Central do Brasil, que, por determina&ccedil;&atilde;o do Conselho Monet&aacute;rio Nacional, deve compor
a Taxa de Desconto para as amortiza&ccedil;&otilde;es ou liquida&ccedil;&otilde;es antecipadas das opera&ccedil;&otilde;es de
credito especificadas em regulamenta&ccedil;&atilde;o aplic&aacute;vel.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 63pt; text-align: justify; text-indent: -27pt">&nbsp;</P>

<!-- Field: Rule-Page --><DIV ALIGN="LEFT" STYLE="margin-top: 0; margin-bottom: 0"><DIV STYLE="font-size: 1pt; border-top: Black 1pt solid; width: 75%">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.25in; text-align: justify; text-indent: -1.25in"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.25in; text-align: justify; text-indent: -1.25in"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: -0.25in">8. Vencimento
Antecipado -Autorizamos o Ita&uacute; Unibanco a considerar antecipadamente vencida as obriga&ccedil;&otilde;es decorrentes desta
C&eacute;dula e exig&iacute;vel o pagamento da d&iacute;vida e encargos na data do vencimento antecipado:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">8.1. independentemente
de aviso, se n&atilde;o cumprirmos qualquer de nossas obrigac&otilde;es<SUP> </SUP>decorrentes desta C&eacute;dula, sofrermos leg&iacute;timo
protesto de titulo, pedirmos fal&ecirc;ncia ou tivermos contra nos tal pedido, requerermos recupera&ccedil;&atilde;o judicial,
convocarmos credores para por pcr ou negociar plano de recupera&ccedil;&atilde;o extrajudicial ou pedirmos homologa&ccedil;&atilde;o;
se nao cumprirmos qualquer obriga&ccedil;&atilde;o assumida em outras opera&ccedil;&otilde;es celebradas com o Ita&uacute; Unibanco
e/ou qualquer outra empresa controlada, direta ou indiretamente, pela Ita&uacute; Unibanco Holding S.A. e/ou seus controladores
ou empresas coligadas.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">8.2. mediante
aviso que o Ita&uacute; Unibanco nos enviara com anteced&ecirc;ncia m&iacute;nima de 15 (quinze) dias, se: a) deixarmos de, no
prazo mencionado no aviso, substituir o Devedor Solid&aacute;rio que vier a encontrar-se em insolv&ecirc;ncia ou em qualquer das
situa&ccedil;&otilde;es do subitem anterior ou que discordar de qualquer altera&ccedil;&atilde;o nas condi&ccedil;&otilde;es desta
C&eacute;dula; b) houver medida ou evento que afete as garantias ou os direitos credit&oacute;rios do Ita&uacute; Unibanco decorrentes
desta C&eacute;dula;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 58.5pt; text-align: justify; text-indent: -9pt">c) houver
senten&ccedil;a condenat6ria transitada em julgado, em raz&atilde;o de pratica, nossa ou de pessoa f&iacute;sica atuando como nosso
administrador, de atos que importem em discrimina&ccedil;&atilde;o de ra&ccedil;a ou de g&ecirc;nero, trabalho infantil, trabalho
escravo, assedio moral ou sexual, ou crime contra o meio ambiente;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 58.5pt; text-align: justify; text-indent: -9pt">d) realizarmos
qualquer outra modalidade de acordo privado com credor(es) que indique nossa situa&ccedil;&atilde;o de crise econ&ocirc;mico financeira
ou de estado pr&eacute;-falimentar.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<!-- Field: Rule-Page --><DIV ALIGN="LEFT" STYLE="margin-top: 0; margin-bottom: 0"><DIV STYLE="font-size: 1pt; border-top: Black 1pt solid; width: 100%">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 13.5pt; text-align: justify; text-indent: -13.5pt">9. Atraso
de Pagamento e Multa -Sem preju&iacute;zo de vencimento antecipado, se houver atraso no pagamento de qualquer obriga&ccedil;&atilde;o
pecuni&aacute;ria decorrente desta C&eacute;dula, incidira sobre os valores devidos e n&atilde;o pagos, a taxa de juros remunerat6rios
indicada no subitem 1.9, acrescida de juros morat6rios de 1% (um por cento) ao m&ecirc;s, todos calculados de forma pro rata e
capitalizada na periodicidade do subitem 1.9.3, desde a data de vencimento da obriga&ccedil;&atilde;o, ainda que por antecipa&ccedil;&atilde;o,
ate a data de seu efetivo pagamento, e multa de 2% (dois por cento).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 36.85pt; text-align: justify; text-indent: -23.35pt">&nbsp;</P>


<!-- Field: Page; Sequence: 5 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 36.85pt; text-align: justify; text-indent: -23.35pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 36.85pt; text-align: justify; text-indent: -23.35pt">9.1.
Pagaremos tamb&eacute;m, tanto no caso de cobran&ccedil;a judicial ou extrajudicial, despesas de cobran&ccedil;a, inclusive custas
e honor&aacute;rios advocat&iacute;cios.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 36.35pt; text-align: justify; text-indent: -22.25pt">9.2.CASO
EXISTAM OBRIGACOES PECUNIARIAS DECORRENTES DESTA CEDULA VENCIDAS, AINDA QUE ANTECIPADAMENTE, E NAO PAGAS, o ITAU UNIBANCO PODERA:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 70.6pt; text-align: justify; text-indent: -33.75pt">9.2.1.
COMPENSAR A D&iacute;vida MENCIONADA NO SUBITEM 9.2, ACIMA, COM VALORES QUE o ITAU UNIBANCO DEVA A QUALQUER TITULO A NOS OU AOS
DEVEDORES SOL/OARIOS, INCLUSIVE RECURSOS OU APLICACOES FINANCEIRAS QUE NOS OU OS DEVEDORES SOLIDARIOS MANTIVERMOS NO ITAU UNIBANCO;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 112pt; text-align: justify; text-indent: -42.25pt">9.2.1.1.
Para os fins do subitem 9.2.1, acima, os valores devidos pelo Ita&uacute; Unibanco que forem objeto da compensa&ccedil;&atilde;o
ali descrita ser&atilde;o considerados vencidos na data da efetiva&ccedil;&atilde;o da compensa&ccedil;&atilde;o. ,</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 69.85pt; text-align: justify; text-indent: -33.9pt">9.2.2.
RETER QUAISQUERVALORES DE QUE N6s OU OS DEVEDORES SOLIDARIOS SEJAMOS TITULARES.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 36.35pt; text-align: justify; text-indent: -22.25pt">9.3.
o RECEBIMENTO DO PRINCIPAL, PELO ITAU UNIBANCO, NAO SIGNIFICARA QUITACAO DOS ENCARGOS PREVISTOS NESTA CEDULA.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<!-- Field: Rule-Page --><DIV ALIGN="LEFT" STYLE="margin-top: 0; margin-bottom: 0"><DIV STYLE="font-size: 1pt; border-top: Black 1pt solid; width: 100%">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: -0.25in">10. Reorganiza&ccedil;&otilde;es
Societ&aacute;rias -Comunicaremos imediatamente ao Ita&uacute; Unibanco qualquer processo de reorganiza&ccedil;&atilde;o societ&aacute;ria
(cis&atilde;o, fus&atilde;o, incorpora&ccedil;&atilde;o, etc.), altera&ccedil;&atilde;o da sua atividade principal, aliena&ccedil;&atilde;o
de estabelecimento comercial ou de parcela significativa de seus ativos ou mudan&ccedil;a de controle, direto ou indireto, em que
n6s ou nosso controlador, direto ou indireto, estejamos envolvidos. ,</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 50.6pt; text-align: justify; text-indent: -30pt">10.1. Ocorrido
qualquer dos eventos previstos no &quot;caput&quot; deste item, o ltau Unibanco podera considerar antecipadamente vencidas as obriga&ccedil;&otilde;es
desta C&eacute;dula e exig&iacute;vel, de imediato, o pagamento do total da d&iacute;vida.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 51.1pt; text-align: justify; text-indent: -30.25pt">10.2.
Prometemos que o nosso controlador, direto ou indireto, ser&aacute; cientificado do teor deste item e que dar&aacute; cumprimento
ao nele disposto.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 51.1pt; text-align: justify; text-indent: -30.25pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 51.1pt; text-align: justify; text-indent: -30.25pt"></P>

<!-- Field: Rule-Page --><DIV ALIGN="LEFT" STYLE="margin-left: 0.25in; margin-top: 0; margin-bottom: 0"><DIV STYLE="font-size: 1pt; border-top: Black 1pt solid; width: 65%">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 51.1pt; text-align: justify; text-indent: -30.25pt"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">11.</TD><TD STYLE="text-align: justify">Tarifas -Por esta opera&ccedil;&atilde;o de empr&eacute;stimo, pagaremos ao Ita&uacute; Unibanco
na data da contrata&ccedil;&atilde;o, a tarifa de contrata&ccedil;&atilde;o prevista no subitem 1.5 que, se financiada, ter&aacute;
o seu valor inclu&iacute;do nas parcelas.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<!-- Field: Rule-Page --><DIV ALIGN="LEFT" STYLE="margin: 0"><DIV STYLE="font-size: 1pt; border-top: Black 1pt solid; width: 100%">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">12.</TD><TD STYLE="text-align: justify">Despesas -Se o Ita&uacute; Unibanco levar esta C&eacute;dula e suas garantias a registro, pagaremos
todas as despesas dele decorrentes.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 45pt; text-align: justify; text-indent: -22.5pt">12.1. o
Ita&uacute; Unibanco informara a nos o valor das despesas com 5 (cinco) dias de anteced&ecirc;ncia a realiza&ccedil;&atilde;o do
debito a ser processado nos termos do item 3.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 45pt; text-align: justify; text-indent: -22.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 45pt; text-align: justify; text-indent: -22.5pt"></P>

<!-- Field: Rule-Page --><DIV ALIGN="LEFT" STYLE="margin: 0 0 0 0.25in"><DIV STYLE="font-size: 1pt; border-top: Black 1pt solid; width: 65%">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 45pt; text-align: justify; text-indent: -22.5pt"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">13.</TD><TD STYLE="text-align: justify">Custo Efetivo Total (&quot;CET&quot;) -Nos declaramos que tomamos ci&ecirc;ncia do Custo Efetivo
Total (UCET&quot;), conforme definido no subitem 13.1, previamente a contrata&ccedil;&atilde;o desta opera&ccedil;&atilde;o, bern
como dos fluxos considerados no calculo do CET, conforme planilha de calculo que nos foi entregue (&ldquo; planilha&quot;).</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 45pt; text-align: justify; text-indent: -22.5pt">13.1. Para
os fins desta C&eacute;dula, entende-se por Custo Efetivo Total (&quot;CET&quot;) o custo total desta opera&ccedil;&atilde;o, expresso
na forma de taxa percentual anual, indicado na Planilha. Para o calculo do CET s&atilde;o considerados: (a) o valor do credito
concedido; (b) o numero de parcelas a pagar e a data de pagamento de cada uma; (c) o prazo da opera.;ao, em dias corridos, a partir
da data da libera.;ao ate o vencimento da ultima parcela; e d) a taxa de juros remunerat&oacute;rios, o valor dos tributos, das
tarifas bancarias e das demais despesas previstas nesta C&eacute;dula.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 45pt; text-align: justify; text-indent: -22.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 45pt; text-align: justify; text-indent: -22.5pt"></P>

<!-- Field: Rule-Page --><DIV ALIGN="LEFT" STYLE="margin: 0 0 0 0.25in"><DIV STYLE="font-size: 1pt; border-top: Black 1pt solid; width: 65%">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 45pt; text-align: justify; text-indent: -22.5pt"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: -0.25in">14. Divulga&ccedil;&atilde;o
de Atraso no Pagamento -Na hip&oacute;tese de ocorrer descumprimento de qualquer obriga.;ao nossa ou dos Devedores Solid&aacute;rios
decorrentes desta C&eacute;dula, ou atraso no pagamento de qualquer valor devido em decorr&ecirc;ncia desta C&eacute;dula, o Ita&uacute;
Unibanco comunicara o fato a SERASA, ao SPC (Servi.;o de Porte.;ao ao Credito), bem como a qualquer outro 6rgao encarregado de
cadastrar atraso no pagamento e descumprimento de obriga.;ao contratual.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>


<!-- Field: Page; Sequence: 6 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<!-- Field: Rule-Page --><DIV ALIGN="LEFT" STYLE="margin: 0"><DIV STYLE="font-size: 1pt; border-top: Black 1pt solid; width: 100%">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: -0.25in">15. Sistema
de Informa&ccedil;&atilde;o de Credito (SCR) -Nos e os Devedores Solid&aacute;rios autorizamos o Ita&uacute; Unibanco e as sociedades
sob controle direto ou indireto da Ita&uacute; Unibanco Holding S.A., a qualquer tempo, mesmo ap6s a extin&ccedil;&atilde;o desta
opera.;ao a:</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 58.5pt"></TD><TD STYLE="width: 13.5pt">a)</TD><TD STYLE="text-align: justify">fornecer ao Banco Central do Brasil (BACEN), para integrar o SCR, informa&ccedil;&otilde;es sobre
o montante de nossas d&iacute;vidas a vencer e vencidas, inclusive as em atraso e as opera&ccedil;&otilde;es baixadas com preju&iacute;zo,
bern como o valor das coobriga&ccedil;&otilde;es por nos assumidas e das garantias por nos prestadas, e</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 58.5pt"></TD><TD STYLE="width: 13.5pt">b)</TD><TD STYLE="text-align: justify">consultar o SCR sobre eventuais informa&ccedil;&otilde;es a nosso respeito nele existentes.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 94.5pt; text-align: justify; text-indent: -22.5pt">15.1.
A finalidade do SGR e prover o BAGEN de informa&ccedil;&otilde;es sobre opera&ccedil;&otilde;es de credito para supervis&atilde;o
do risco de credito e intercambio de informa&ccedil;&otilde;es entre institui&ccedil;&otilde;es financeiras.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.75in; text-align: justify; text-indent: -31.5pt">15.1.1.
Estamos cientes de que a consulta ao SCR depende desta nossa autoriza.;ao previa e declaramos que eventual consulta anterior, para
fins desta opera&ccedil;&atilde;o, contou com a nossa autoriza.;ao, ainda que verbal.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.75in; text-align: justify; text-indent: -31.5pt">15.1.2.
Poderemos ter acesso, a qualquer tempo, aos dados do SeR pelos meios colocados a nossa disposi&ccedil;&atilde;o pelo SAGEN e, em
caso de diverg&ecirc;ncia nos dados do SCR fornecidos pelo Ita&uacute; Unibanco ou sociedade sob controle direto ou indireto da
ltau Unibanco Holding S.A., pedir sua corre&ccedil;&atilde;o, exclus&atilde;o ou registro de anota&ccedil;&atilde;o complementar,
inclusive de medidas judiciais, mediante solicita.;ao escrita e fundamentada ao Ita&uacute; Unibanco</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.75in; text-align: justify; text-indent: -31.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<!-- Field: Rule-Page --><DIV ALIGN="LEFT" STYLE="margin: 0"><DIV STYLE="font-size: 1pt; border-top: Black 1pt solid; width: 100%">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">16.</TD><TD STYLE="text-align: justify">Responsabilidade ambiental -Declaramos que: (i) n&atilde;o existem contra n6s processos judiciais
ou administrativos relacionados a quest&otilde;es trabalhistas relativas a sa&uacute;de ou seguran&ccedil;a ocupacional, inclusive
quanto a trabalho escravo ou infantil, nem tampouco relacionados a quest&otilde;es ambientais;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 20.25pt; text-align: justify">(ii) nossas atividades e propriedades
est&atilde;o em conformidade com a legisla&ccedil;&atilde;o ambiental brasileira, principalmente quanto ao licenciamento ambiental
e alei de Biosseguran.;a; e (iii) os recursos decorrentes desta C&eacute;dula ser&atilde;o destinados apenas a finalidades Il&iacute;citas
que atendam rigorosamente a legisla&ccedil;&atilde;o trabalhista relativa a sa&uacute;de e seguran&ccedil;a ocupacional, inclusive
quanto a aus&ecirc;ncia de trabalho an&aacute;logo ao escravo e infantil, bern como a legisla&ccedil;&atilde;o ambiental brasileira
...</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 45pt; text-align: justify; text-indent: -23.65pt">16.1. Durante
a vig&ecirc;ncia desta C&eacute;dula, deveremos respeitar a legisla&ccedil;&atilde;o e regulamenta&ccedil;&atilde;o ambiental e
trabalhista em vigor no Brasil, especial mente as normas relativas a sa&uacute;de e seguran&ccedil;a ocupacional, a inexist&ecirc;ncia
de trabalho an&aacute;logo ao escravo e infantil.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 45pt; text-align: justify; text-indent: -23.65pt">16.2. Obrigamo-nos
a obter todos os documentos (laudos, estudos, relat&oacute;rios, licen&ccedil;as, etc.) exigidos pela legisla&ccedil;&atilde;o
e regulamenta&ccedil;&atilde;o ambiental e trabalhista em vigor no Brasil, mantendo-os vigentes e atestando o seu cumprimento,
e a informar ao Itau Unibanco, imediatamente, a manifesta.;ao desfavor&aacute;vel de qualquer &oacute;rg&atilde;o publico.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 45pt; text-indent: -22.5pt">16.3. Independente de culpa,
ressarcirernos o Ita&uacute; Unibanco de qualquer quantia que este seja compilado a pagar, bem como o indenizaremos por quaisquer
perdas e danos referentes a danos ambientais ou relativos a sa&uacute;de e seguran&ccedil;a ocupacional que, de qualquer forma
a autoridade entenda estar relacionado a utiliza&ccedil;&atilde;o dos recursos desta C&eacute;dula</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<!-- Field: Rule-Page --><DIV ALIGN="LEFT" STYLE="margin: 0"><DIV STYLE="font-size: 1pt; border-top: Black 1pt solid; width: 100%">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-indent: -0.25in">17. Toler&acirc;ncia &ndash; A toler&acirc;ncia de uma
das partes quanto ao descumprimento de qualquer obriga&ccedil;&atilde;o pela outra parte n&atilde;o significara renuncia ao direito
de exigir o cumprimento da obriga&ccedil;&atilde;o, nem perd&atilde;o. Nem altera&ccedil;&atilde;o do que foi aqui contratado.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-indent: -0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-indent: -0.25in"></P>

<!-- Field: Rule-Page --><DIV ALIGN="LEFT" STYLE="margin: 0"><DIV STYLE="font-size: 1pt; border-top: Black 1pt solid; width: 100%">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-indent: -0.25in"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-indent: -0.25in">18. Efetiva&ccedil;&atilde;o
da contrata&ccedil;&atilde;o -CASO ESTA CEDULA TENHA DSIDO ASSINADA POR NOS FOR A DA AGENCIA DO ITAU UNIBANCO DECLARAMOS QUE TODOS
OS SEUS TERMOS CORRESPONDUM EXATATMENTE AQUELES CONSTANTES ORIGINALMENTE NO ARQUIVO ELECTRONICO OU NO FORMULARIO QUE NOS FOI ENCAMINHADO
APOS A SUA ASSINATURA, DEVEREMOS ENCAMINHA-LA A AGENCIA DO ITAU UNIBANCO PARA ADOCAO DAS DEMAIS PROVIDENCIAS VISANDO A EFFETIVACAO
DA CONTRACACAO AS CONDICOFS FINANCEIRAS AJUSTADAS PAPA ESTA CEDULA SOMENTE TEM VALIDADE PAPA A DATA INDINCADA NO SUBITEM 1.1.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-indent: -0.25in">&nbsp;</P>


<!-- Field: Page; Sequence: 7 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-indent: -0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-indent: -0.25in"></P>

<!-- Field: Rule-Page --><DIV ALIGN="LEFT" STYLE="margin: 0"><DIV STYLE="font-size: 1pt; border-top: Black 1pt solid; width: 100%">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-indent: -0.25in">19. Solu&ccedil;&atilde;o
Amig&aacute;vel de Conflitos - Para a soluc&atilde;o amig&aacute;vel de eventuais conflitos relacionados a esta C&eacute;dula,
poderemos dirigir nosso pedido de reclama&ccedil;&atilde;o a nossa agencia do Ita&uacute; Unibanco. O Ita&uacute; Unibanco coloca
ainda a nossa disposi&ccedil;&atilde;o o SAC. Ita&uacute; (0800 728 0728) o SAC &ndash; Ita&uacute; exclusive ao deficiente auditivo
(0800 772 1722) e o Fale Conosco (<U>www.itau.com.br</U>) Se n&atilde;o for solucionado conflito, poderemos recorrer a Ouvidoria
Corporativa Ita&uacute; (0800 570 0011) em dias &uacute;teis das 9h as 18h.Caixa postal 67.600 CEP 03162-970</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-indent: -0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-indent: -0.25in">20. Declara&ccedil;&atilde;o
de Leitura &ndash; O Ita&uacute; Unibanco orientou a nos e ao(s) Devedor(es) Solid&aacute;rio(s) a lermos atentamente os termos
e as condi&ccedil;&otilde;es da presente C&eacute;dula e a esclarecermos todas as nossas eventuais duvidas.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-indent: -0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 45pt; text-indent: -22.5pt">20.1. Nos e o(s) Devedor(es)
Solid&aacute;rio(s) estamos cientes do que, ao assinarmos a presente C&eacute;dula, declaramos que a lemos previamente e que n&atilde;o
possu&iacute;mos nenhuma duvida com rela&ccedil;&atilde;o a quaisquer de suas cl&aacute;usulas.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 22.5pt; text-indent: -22.5pt"></P>

<!-- Field: Rule-Page --><DIV ALIGN="LEFT" STYLE="margin: 0"><DIV STYLE="font-size: 1pt; border-top: Black 1pt solid; width: 100%">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 22.5pt; text-indent: -22.5pt">21. Foro &ndash; Fica eleito
o Foro da Comarca do local de emissao desta C&eacute;dula podendo a parte que promover a a&ccedil;&atilde;o optar pelo Foro do
nosso domic&iacute;lio.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2"><FONT STYLE="font-size: 10pt">Local e data retro</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2"><FONT STYLE="font-size: 10pt">Emitente:</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="border-bottom: black 1pt solid"><FONT STYLE="font-size: 10pt"><I>/s/ Eduardo Fernandes Tavares</I></FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2"><FONT STYLE="font-size: 10pt">Miguel G. Bastos</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2"><FONT STYLE="font-size: 10pt">Lakeland Brasil S/A</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2"><FONT STYLE="font-size: 10pt">President</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">Nome:</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid"><FONT STYLE="font-size: 10pt"><I>/s/ Eduardo Fernandes Tavares</I></FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Nome: /s/ F&aacute;bio da Fonseca Santos Silva</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2"><FONT STYLE="font-size: 10pt">CPF/CNP 112.583.238-00</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">CPF/CNP 786.227.515-20</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2"><FONT STYLE="font-size: 10pt">Telephone: 71/3390.3000</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Telephone: 71/3390.3000</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2"><FONT STYLE="font-size: 10pt">Endere&ccedil;o:</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Endere&ccedil;o:</FONT></TD></TR>
<TR>
    <TD STYLE="width: 6%">&nbsp;</TD>
    <TD STYLE="width: 35%">&nbsp;</TD>
    <TD STYLE="width: 5%">&nbsp;</TD>
    <TD STYLE="width: 54%">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


<!-- Field: Page; Sequence: 8; Options: Last -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->



</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-10.4
<SEQUENCE>5
<FILENAME>v363602_ex10-4.htm
<DESCRIPTION>EXHIBIT 10.4
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>Exhibit 10.4</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD NOWRAP STYLE="width: 16%; border-bottom: Black 1pt solid; text-align: center; vertical-align: bottom">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Original </B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Amount</B></P></TD>
    <TD NOWRAP STYLE="width: 1%; text-align: center; vertical-align: bottom">&nbsp;</TD>
    <TD NOWRAP STYLE="width: 15%; border-bottom: Black 1pt solid; text-align: center; vertical-align: bottom"><FONT STYLE="font-size: 10pt"><B>Bank</B></FONT></TD>
    <TD NOWRAP STYLE="width: 1%; text-align: center; vertical-align: bottom">&nbsp;</TD>
    <TD NOWRAP STYLE="width: 16%; border-bottom: Black 1pt solid; text-align: center; vertical-align: bottom">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Payment</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Terms/Monthly</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Installment</B></P></TD>
    <TD NOWRAP STYLE="width: 1%; text-align: center; vertical-align: bottom">&nbsp;</TD>
    <TD NOWRAP STYLE="width: 16%; border-bottom: Black 1pt solid; text-align: center; vertical-align: bottom"><FONT STYLE="font-size: 10pt"><B>Due Date</B></FONT></TD>
    <TD NOWRAP STYLE="width: 1%; text-align: center; vertical-align: bottom">&nbsp;</TD>
    <TD NOWRAP STYLE="width: 15%; border-bottom: Black 1pt solid; text-align: center; vertical-align: bottom"><FONT STYLE="font-size: 10pt"><B>Interest Rate</B></FONT></TD>
    <TD NOWRAP STYLE="width: 1%; text-align: center; vertical-align: bottom">&nbsp;</TD>
    <TD NOWRAP STYLE="width: 16%; border-bottom: Black 1pt solid; text-align: center; vertical-align: bottom"><FONT STYLE="font-size: 10pt"><B>Collateral</B></FONT></TD>
    <TD NOWRAP STYLE="width: 1%; text-align: center; vertical-align: bottom">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">R$500,000</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Itau</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">07 Installment</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">July 31, 2014</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">1.53% am</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Customer contract</FONT></TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;&nbsp;</P>

<!-- Field: Page; Sequence: 1; Options: Last -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="margin: 0"></P>



</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>6
<FILENAME>tsig.jpg
<DESCRIPTION>GRAPHIC
<TEXT>
begin 644 tsig.jpg
M_]C_X``02D9)1@`!`@``9`!D``#_[``11'5C:WD``0`$````9```_^X`#D%D
M;V)E`&3``````?_;`(0``0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!
M`0$!`0$!`0$!`0$!`0("`@("`@("`@("`P,#`P,#`P,#`P$!`0$!`0$"`0$"
M`@(!`@(#`P,#`P,#`P,#`P,#`P,#`P,#`P,#`P,#`P,#`P,#`P,#`P,#`P,#
M`P,#`P,#`P,#_\``$0@`)0#G`P$1``(1`0,1`?_$`'D```("`@,!`0``````
M```````'!@@"!0$#!`D*`0$`````````````````````$```!@$#!``%``D"
M!P$````!`@,$!08'`!$((3$2$T%182(4<9&A,D(C%18)@5+!T6(S8R0E)A$!
M`````````````````````/_:``P#`0`"$0,1`#\`_?N(@`;B(`'S$=@_;H`#
M%'L8H_H$-`;@/80'_70<Z`T!H#0&@-`:`T!H#0&@-!!LETE+)%"M5$7FYVMH
M6J'<PRTY6G8,9Z-1=@!57$6[$I@;N@)N4#;"(`([:#94NM)4RIUVI-W\E*-J
MW#1L(WDIEQ^7+OD(QHBS3=23OI^4\6*EN<^VYAZCH)-Y%W$NX;AMN'Q#<-P_
M9H%Y<,MXNH*0J77(M*JG42%+.V6(CEC*!_`FV<NTW"IP^12B.@1#SG%QL2,J
ME&9`>VE4!,0`IE(NUI)[$^Y4W$1`/&BPF^`@IL.W0=!@CS/QJY!,&=/SH]`Q
M=RJ-\'WX2JAX[^8><8EX@8`WV$`T'8?F5C)$WB_K.;XH1`#`+W"&0$R>(CMY
M>:<*Y+L(@/QWZ=M!WAS6X_>8I.[-:84Q`\U3S6+\DQZ29.PB=1>K)D3V$>XC
MMH)7"<K..EA.1.-S30DU!4(3T2TPA`.CB8P=/Q[!_3%BD'?OXZ!VPUEKEB1!
MS7Y^$G6Y@`2N(:58R:)@,`B4059+KD$!`.G70;H1`.X[:#$%"#V.4?J`@(?K
M#IH,]`:"EE?Y/7_,K9Q*<=\*N;720>N64=E'(5J9T.FSPL5#H.7M=8MVLW9I
MF,!V02$7!ND0_B(AT#02IJ/,AV8573#C7%D'?9L#O)DRN00[?^X1.)3.4?@/
MI#;ZZ#U&L'+6,(B(XZPC:@'S]QHO(EMK9S%*/04$IBHRI!4-VV.<@!_N^&@X
M#,6=HP`&P<7)]PF4VRBM(R91+0;Q#?R.1I(KUEQOM^Z4?N'Z:#@O++'L<8$;
MW7,G8N<@8"*!?,=V5C'IJ"8"B`3L0RF819,H#N*B:YDBAW,&@=]2R%1[\R"1
MH]MK=N9`(`JXKTTPE"H&$-_!<K194S=0/B53P,`]-M]!,@'?_C]!^0_70&@-
M`:"(6N^TRB,1DKK:JY4X_?8KRQ3<=#-C]MP35?N$`6.`_`FX_#OH*_O^</%-
MA[2CFJJ/S(B0JAH-.:L21#'$2@4ZT%%2"0&W*/3RW_6&@UQ>>O$OS;I*YHK[
M%1=4J?C*Q5IB"E$0$?N/)0+5,G;^(0#0->K<C,#W=<C6IYAQM.NU!^QHQN$,
MHZ,'P`K8SHBXJ;C^[X[Z!S)J%5(50@E,0X`8ABF*<IBCV,4Q!,4Q1#L(=]!G
MH$WFW,D9A>J-YMQ"2MJGIV9C:I2*;!>D9NX6^9.H2,@X[WF(BCY%2.JNL<?!
M!N0Z@[@7;0(1OA3/6:5"RN?,J/L>5IT!E$<+80DEX5NDT4$IP;7#(HA_79N1
M14Z*_@`T;=P+OWT#9I7%'CQC\X.:WB:G!*")CJSTU&%LUB<+',)SN%IZQ'DY
M0ZYC#OO[0V'MT``T#W:QC)BF1)@V08I$*!"I,V[=LD4H=@*FFD4A0Z_``T'H
M%$PF*;W*!XAMMOL4>FVY@#8!'09`0X!T5'?ZE\@_4(Z#@42F+X*"*I>PE5*0
MP&#;80$`*4!W^O301J8HU0GT_3-UBMRZ`B(F1E:_$228[[=B/6:Q"AM]-`GY
M;B9QYE7)7R>,("`DB+"NC*4W\VER2"P]U&[VK.XE9$PCU'Q$`'X@.@U!N/=M
MK13GQIR!RG6TP,)THBXK1>48`AA$0(EZ;4U--I-DP'8`3?D-L`;B/Q#P'G>5
MU(4(69I6-\TPR9=E7E%FGF/K:*90-LM_;MG-(U]ZJ8@;BDB^3`1[?4)C4>2N
M,K-.)5"3=R6/;TH8R1:/DF-7J%@<+D`GL)$"^`8BQ(E$VWMCW;D@CL&_70/[
MR^SSV-^[Y>.WW=M]MO\`=H/G73X?./#9B:CQ-!D<_P#'A@_D5:.XHYVA<N8X
MBWK@\@K`SE>D%F,?;X9DZ<K?BKLE"N2)`4ATA$`'0/>I<P./-E<)Q;G(3.F6
M%0`!6LY,9O\`'D^@J(``M3-+6UBT%U2'W#Q046+N'01T%AHN=@9I`CB$EHJ7
M:F$0*O$O6DBW\OB`*LE5TP'_`%T&U$4PV$?$.OV^1=A$W_2`@`B/Z-!P<R)@
M,10"&*("!BG`!*("&P@8#!MU`?CH*^6[BYA.W/SSH4EK5;,<%#)VS'SY_0;*
MDLIN(NAE:JXC#N''D.X&6(L&_<!T%9<NX@YZU6'2#CUR,9VN-BE#.$(+)E9K
M3B^/&@IF2/%GN2K`8B862)L9)9V@@J)P^]01'?0)RD99S<J]C:7F'E[.X'R&
MNK^&G6\G\=J9"-91TH8!2_H=U4EG-4GD#%'8HD<$4,/\.@8N49#.>*K'B^,O
M'+RW(U'*4ZK5F>2(/$&+&U4K=B40!:!C9YPJ#Q=$MH5\D6JY=T`5*(','306
M[Q)BC(U%G)>9NG(2^Y@0?L4V32&LL'3H*&B%@<%54DF"5;B6:ZS@Q"B0`5.8
MGCOMUZZ"M&?..>5)'/R>>Z/2L1YT8KU>(JQ\99E<NX\*L>*6575F*#*"WE(-
MNYDQ4\G!7;0QC'*&QRAU`)="93Y"P20LY3@@:-1+L`C1<GXLD6@E#[4P(S63
MB#>0`'Q+T#8-]!N'6=+R5,1G>$V8G"1A*0R;%/%EB.(G';<R2-E2`2;=QW';
MY:!9V>TX(O;-5GDG@MEM'VF4(Y4=8"BI!=N/5-14TO4W[F0+]@;@9$YQVVVZ
M]-!-L:<I>+&,J[%8[+9;IC>,@2"QC(W+]3R/!/&::BZRWXRT[;H@P*(HBKXD
M%5R)4TR@`#L`:"WM>R!1K9!!9ZO;ZW8:YZCKFGH:9CY&(213+YG57D&JZK5!
M,A`W$QS%``ZZ"$91QO$922HDLE-K0\MCZYP>1*C8HPK61!-XU0<,7"*C17S;
MOXB?@I1=JJ(&*8J2P*)F`P`.@8#2X5-[8I:HL;#"N;1!LVDG-U]O(LU)B+CW
M_F#%](1Q%1=M6KSU&]:AR`4WB.PZ"2>9?F'_`#Z;]/GT'0+G(.8<68H9-G^2
ML@5.CMG@B5D:R3;&,5>F#N5DV<*E<O#!\DB''KH*ZR?^0KAXRBI"23S;7I$[
M`$A+%1;2;<STD*[H&B)(6(&.1>S`JKCL'XX'#;J([==!T$YDED"HKP7&OE?-
M,W0>3)^UQ09HS=MQ#R3=%4DI5LJF@N00,03E#R*(#H,TN8IDS>4SQFY8PR!`
M\EG1\4DD$D"`(;G,2+F72Y@`.OVD,/TT#IQ1R`QMF%:1C:F_FT+#"MDWDU5[
M35[!5++%M%UC(MW#R*G8]DKZECAL4Q!.4?GH.G*O)?!6$U4VF3<E5RL2:Q$U
M4(-9PJ^GUDE0W25)!QB+R5]2H=2F%("F#L.@7-2YS\8KI+,X6,R&JP=R*Z#6
M.6LM4MU7C'[ER8"-T&LO/0;"+445.8`*`K!N(@`=1#06U#U[!L4``X;_`+NP
M#^GIL(C^W00J^XVHN3H0]?OE4AK3%FW%-"4:)JJLU!*)?R8YX7P>1KPA1^Q9
M!1-0@]0,&@IRU5M.&LBL^.61;).6C".=8BP5;$%T=R3@EUI\\:%<_P!3QS+S
MR7@LX(M$'.I"/3&%R0R/@)S&+OH+^"0!`-Q,.VW7?KN`[@/0`#<-!';#3:E;
M6XM+568"S-!`0%K8(>.F&X@)1+MZI%LX+V'0(.1X8\:GJQW3'&,?5GIA$Q7U
M'E)ZDN$CB'[Z/]L2D6BF8H]0$"=!T'A2XL-X%(I*;G?D554DA$S=H.1U+<P1
M.'4HBA=HRPK*$*/\)U1*(=!#;09CBCD'%F\H+E/+NT@`P%0N.)Z1.`(E*/@"
MKF')7G!_J(=_AMH.]**YAQI">F]8!M9=@_F3%'O%65.`;!U&*M$RB4Y@ZC]H
M!N/8-!W#9.7,<F)W&-,(VD04\1)#9'L]:'UB(!Y__8J,PGT#<=O+KVZ:#V3[
M'(&1H%W5\CX`QQ-P4F*K20A9S(#:PQBC,Y">3CUN*0`@8!'H!"E.40`0,`]=
M!3G-G^.^2F<<VFJX#R=.T!E86!22&'+E+/[SAV171-^2R+%!+@I8*=)L7Q2*
MM7K)4ID52%$">`"`A8/@CD3(UVP0UB<N0<G#92QA8I3%]Q3E&KI%62<54S=K
M&3*;A<")28/H11`ZCE'=%14#["(@;03:2CN6L='1#:MV?!MCF!E[&[L,G;X"
MVPS=.&<R9U*I%PS.NO''M4818^MRX7.!U5B^12@701]9;G<BLJ9..XL/D=]D
MP,^R@P.)?AN?\=WUW_0&@\A9[G6B(@MC/C>]*4NY?QLC7U@<QM_B56LNB@7;
MZ]]!U#D+FRQ+Y.^..*)HPCM_^?SFZ:'$0$-OY<S3T4^H?`5-OF(:"/R.3N:4
MJ5Q&K<-J&X;.43E$9[/5??Q)S>(E`KAF2N.3>LX&$!#QZAH%O@OBOD=++T[E
M+)M,P[B2FV.B6&E3>#<.O)>5@+>:>.0B\K>%W:,;7EW#-OYD3_#:IF$RG41`
M-!/8FB\F.-1TJ[B9C#9]PDS4(G6J39K$6JY,QY$^*OJ@(&SO45(:TP;,H@1N
M5\HDLDF`$\_$H:"H;WCORKR3R8R%RGIE'<\?+C&P%4?4^*MEJB)Y.[V"`11B
M)REV'^WWJS0*A:H-,0\S@(MW!"G)XB8VX./*W,O,)\5V&KQ_'K/N,N1'X+4M
M8)&8Y<WRE/;*SDVBRS1I8XM55L>ORI&ZB0K+)IB5)3R'MH*V\8<U/<JY4SCE
MG*/%*_Y/S1&6IA7#5Q!.K2AL/5R-@V"32`CJM=I>,D(-:3DBN'"KE-`WOW)L
M?8H;@]^0E>NW+JG,,5->%=IHCJ0G859#)V1'5(KJ&/F#*4;*2LM&&@))]/+R
M*\8FLBFW1`"F]@#N&VX!-LE\$I"NUZ#0XNVJV566;RHGEH^V9US.QKYXD[18
M/3#MXF6E"MG0/4R;`JEZP3Z`/;8%J7C5SJ:,DTT[\[=JD2\C%;\D[^Q,+@1\
M0.D+RBO`3(0!$?N$1'MH-`YXW\U%'RBYXZS/W*B"35265YC6AM[2E`HJ&%-E
M0VSLK8RH"/K`=]NW7KH%M6_\<G+.2SHRS5.YKAL<2XLBQSR<83\ME^Y),F+<
MY&+0)"U5^.9ND2`4A#$,!">!=A\A'?0?0!IB'E^JU2A+)R0Q98:^3TE_JS_C
MU&JV0P)&*)53QRD^G605W(`^0MA`H]0#H&@A+^E\D.,%QD<D4J4O'*3'EK03
M7RI0IN3:(WV'LB!R;VW&#$J+6'&.<-_Y9X<HE*4A`]9@[B#(C.?_`!S5(DE9
M9NWT28V'\NO7/'-VB)AFN`;G:J)$A7**AT1W`13.<!VZ:!7Y`S'$\B9W'$M1
M*M<$,38-O;#.V1LOV>I3U>A4HK&S"5D`@:9&2#%.?M$Q*^9A.#9OL5N0P?<8
MQ0T'TIT!H#0&@-`:`T!H#0&@-`:`T!H#0&@-`:#$^_B;;OL/S^7TZZ#YWP*.
M,1_R.VQ>AR-A)D,N"&A,Q1D=#0*E'6$9AF-5=3LZ2>2GFUS3;^`>@L<JB=KZ
MQ,L4>F@^B)=]@W[[!OOMWVZ]NF@YT!H#0&@-`:#6N_P/:E^9^#[.GXX.P;>S
@?_Q"N/GOY?(-![P_[?4"[>(]-P$NVW3KX@'CM]-!_]D_
`
end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
