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<SEC-DOCUMENT>0000825324-09-000009.txt : 20090420
<SEC-HEADER>0000825324-09-000009.hdr.sgml : 20090420
<ACCEPTANCE-DATETIME>20090420160015
ACCESSION NUMBER:		0000825324-09-000009
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		6
CONFORMED PERIOD OF REPORT:	20090420
ITEM INFORMATION:		Entry into a Material Definitive Agreement
FILED AS OF DATE:		20090420
DATE AS OF CHANGE:		20090420

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			GOOD TIMES RESTAURANTS INC
		CENTRAL INDEX KEY:			0000825324
		STANDARD INDUSTRIAL CLASSIFICATION:	RETAIL-EATING PLACES [5812]
		IRS NUMBER:				841133368
		STATE OF INCORPORATION:			NV
		FISCAL YEAR END:			0930

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-18590
		FILM NUMBER:		09759290

	BUSINESS ADDRESS:	
		STREET 1:		601 CORPORATE CIRCLE
		CITY:			GOLDEN
		STATE:			CO
		ZIP:			80401
		BUSINESS PHONE:		3033841400

	MAIL ADDRESS:	
		STREET 1:		601 CORPORATE CIRCLE
		CITY:			GOLDEN
		STATE:			CO
		ZIP:			80401

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	PARAMOUNT VENTURES INC
		DATE OF NAME CHANGE:	19900205
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>form8k1.htm
<TEXT>
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<p class=MsoTitle><b><font size=3 face="Times New Roman">&nbsp;</font></b></p>

<p class=MsoTitle><b><font size=3 face="Times New Roman">&nbsp;</font></b></p>

<p class=MsoNormal style='line-height:1.0pt'><font size=2 face="Times New Roman">&nbsp;</font></p>

<p class=MsoNormal style='line-height:1.0pt'><font size=2 face="Times New Roman">&nbsp;</font></p>

<p class=MsoHeader><font size=2 face="Times New Roman">&nbsp;</font></p>

<p class=MsoNormal style='line-height:1.0pt'><font size=2 face="Times New Roman">&nbsp;</font></p>

<p class=MsoTitle><b><font size=3 face="Times New Roman">&nbsp;</font></b></p>

<p class=MsoTitle><b><font size=2 face="Times New Roman">UNITED STATES</font></b></p>

<p class=MsoNormal align=center style='text-align:center'><b><font size=2
face="Times New Roman">SECURITIES
AND EXCHANGE COMMISSION</font></b></p>

<p class=MsoNormal align=center style='text-align:center'><font size=2
face="Times New Roman">Washington, D.C. 20549</font></p>

<p class=MsoNormal><font size=2 face="Times New Roman">&nbsp;</font></p>

<p class=MsoNormal align=center style='text-align:center'><b><font size=2
face="Times New Roman">FORM 8-K</font></b></p>

<p class=MsoNormal align=center style='text-align:center'><b><font size=2
face="Times New Roman">&nbsp;</font></b></p>

<p class=MsoNormal align=center style='text-align:center'><b><font size=2
face="Times New Roman">CURRENT
REPORT</font></b></p>

<p class=MsoNormal><b><font size=2 face="Times New Roman">&nbsp;</font></b></p>

<h3><b><font size=2 face="Times New Roman">Pursuant
to Section 13 or 15(d) of the Securities Exchange Act of 1934</font></b></h3>

<p class=MsoNormal><font size=2 face="Times New Roman">&nbsp;</font></p>

<p class=MsoNormal align=center style='text-align:center'><font size=2
face="Times New Roman">Date of Report (Date of
earliest event reported)</font></p>

<p class=MsoNormal align=center style='text-align:center'><font size=2
face="Times New Roman">April 20, 2009</font></p>

<p class=MsoNormal><font size=2 face="Times New Roman">&nbsp;</font></p>

<p class=MsoNormal align=center style='text-align:center'><b><font size=2
face="Times New Roman">Good
Times Restaurants Inc.</font></b></p>

<p class=MsoNormal align=center style='text-align:center'><font size=2
face="Times New Roman">(Exact name of registrant
as specified in its charter)</font></p>

<p class=MsoNormal><font size=2 face="Times New Roman">&nbsp;</font></p>

<p class=MsoNormal><font size=2 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Nevada&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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 000-18590&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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 84-1133368</font></p>

<p class=MsoNormal><font size=2 face="Times New Roman"> (State or other jurisdiction&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; (Commission&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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (IRS
Employer</font></p>

<p class=MsoNormal><font size=2 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; of incorporation)&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;&nbsp; File Number)&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;&nbsp;&nbsp;&nbsp; Identification
No.)</font></p>

<p class=MsoNormal><font size=2 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font></p>

<p class=MsoNormal><font size=2 face="Times New Roman">&nbsp;</font></p>

<p class=MsoNormal align=center style='text-align:center'><font size=2
face="Times New Roman">601 Corporate Circle, Golden, Colorado 80401</font></p>

<p class=MsoNormal align=center style='text-align:center'><font size=2
face="Times New Roman">(Address of principal
executive offices)&nbsp;&nbsp; (Zip Code)</font></p>

<p class=MsoNormal><font size=2 face="Times New Roman">&nbsp;</font></p>

<p class=MsoNormal align=center style='text-align:center'><font size=2
face="Times New Roman">Registrant's telephone
number, including area code: (303) 384-1400</font></p>

<p class=MsoNormal><font size=2 face="Times New Roman">&nbsp;</font></p>

<p class=MsoNormal align=center style='text-align:center'><font size=2
face="Times New Roman">Not applicable</font></p>

<p class=MsoNormal align=center style='text-align:center'><font size=2
face="Times New Roman">(Former name or former
address, if changed since last report.)</font></p>

<p class=MsoNormal><font size=2 face="Times New Roman">&nbsp;</font></p>

<p class=MsoNormal><font size=2 face="Times New Roman">&nbsp;</font></p>

<p class=MsoNormal><font size=2 face="Times New Roman">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 (see General Instruction A.2.):<br>
<br>
[_] Written communications pursuant to Rule 425 under the Securities Act (17
CFR 230.425)<br>
<br>
[_] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
240.14a-12)<br>
<br>
[_] Pre-commencement communications pursuant to Rule 14d-2(b) under the
Exchange Act (17 CFR 240.14d-2(b))<br>
<br>
[_] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange
Act (17 CFR 240.13e-4(c))</font></p>

<p class=MsoFooter><font size=2 face="Times New Roman">&nbsp;</font></p>

<div class=MsoNormal align=center style='text-align:center'><font size=2
face="Times New Roman">

<hr size=2 width="100%" noshade style='color:navy' align=center>

</font></div>

<p class=MsoNormal style='line-height:1.0pt'><font size=2 face="Times New Roman">&nbsp;</font></p>

<font size=2 face="Times New Roman"><br clear=all style='page-break-before:always'>
</font>

<p class=MsoNormal style='line-height:1.0pt'><font size=2 face="Times New Roman">&nbsp;</font></p>

<p class=MsoNormal style='line-height:1.0pt'><font size=2 face="Times New Roman">&nbsp;</font></p>

<p class=MsoHeader><font size=2 face="Times New Roman">&nbsp;</font></p>

<p class=MsoNormal style='line-height:1.0pt'><font size=2 face="Times New Roman">&nbsp;</font></p>

<p class=MsoNormal><b><font size=2 color=black face="Times New Roman">Item 1.01&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Entry
into a Material Definitive Agreement.</font></b></p>

<p class=MsoNormal style='text-autospace:none'><b><font size=2 color=black
face="Times New Roman">&nbsp;</font></b></p>

<p class=MsoNormal style='text-indent:.5in;text-autospace:none'><font size=2
color=black face="Times New Roman">On
April 20, 2009, Good Times Restaurants Inc. (the &quot;Company&quot;) and Good Times
Drive Thru Inc. (&quot;GTDT&quot;), a wholly owned subsidiary of the Company, entered
into a loan agreement (the &quot;Loan Agreement&quot;) with Golden Bridge, LLC (&quot;Golden
Bridge&quot;), pursuant to which Golden Bridge made a loan of $185,000 (the &quot;Loan&quot;)
to GTDT to be used for restaurant marketing and other working capital costs of
GTDT.&nbsp; Eric Reinhard, Ron Goodson, David Grissen, Richard Stark, and Alan
Teran, who are all members of the Company's Board of Directors and stockholders
of the Company, are the sole members of Golden Bridge.&nbsp; Eric Reinhard is the
sole manager of Golden Bridge.&nbsp; The Company's and GTDT's obtaining of the Loan
from Golden Bridge and related transactions were duly approved in advance by
the Company's Board of Directors by the affirmative vote of members thereof who
did not have an interest in the transaction.</font></p>

<p class=MsoNormal style='text-indent:.5in;text-autospace:none'><font size=2
color=black face="Times New Roman">&nbsp;</font></p>

<p class=MsoNormal style='text-indent:.5in;text-autospace:none'><font size=2
color=black face="Times New Roman">The
Loan is evidenced by a promissory note dated April 20, 2009 (the &quot;Note&quot;) made
by the Company and GTDT, as co-makers, and shall bear interest at a rate of 10%
per annum on the unpaid principal balance.&nbsp; The Note provides for monthly
interest payments and will mature and be due and payable in full on July 10,
2010.&nbsp; The commitment fee for the Loan is $3,700.&nbsp; The Loan Agreement contains
customary event of default provisions and a cross-default provision with
respect to the loan agreement for the PFGI Loan (as defined below).&nbsp; Upon the occurrence
and continuance of an event of default, Golden Bridge may declare all or part
of the unpaid principal and accrued and unpaid interest on the Loan due and
payable.&nbsp; Any amounts not paid to Golden Bridge when due will bear interest
from the due date until paid at a rate of 18% per annum.</font></p>

<p class=MsoNormal style='text-indent:.5in;text-autospace:none'><font size=2
color=black face="Times New Roman">&nbsp;</font></p>

<p class=MsoNormal style='text-indent:.5in;text-autospace:none'><font size=2
color=black face="Times New Roman">The
Loan Agreement and the Note are subject to the terms of an intercreditor
agreement dated April 20, 2009 (the &quot;Intercreditor Agreement&quot;), among the
Company, GTDT, Golden Bridge and PFGI II, LLC (&quot;PFGI&quot;).&nbsp; As previously reported
by the Company, GTDT currently has a $2,500,000 revolving line of credit with
PFGI (the &quot;PFGI Loan&quot;), which was scheduled to mature on July 10, 2009, under
which $2,000,000 was outstanding as of April 20, 2009.&nbsp; Under the Intercreditor
Agreement, PFGI and Golden Bridge agreed that, upon any payments of principal
or interest on the Loan or the PFGI Loan by GTDT, PFGI and Golden Bridge shall
each be entitled to its pro rata share of such payments in the amount of 93.1%
for PFGI and 6.9% for Golden Bridge.&nbsp; The Intercreditor Agreement also provides
that GTDT and the Company may prepay the Loan in whole or in part with the
prior consent of PFGI, and that any other indebtedness of the Company or GTDT
to PFGI or Golden Bridge shall be subordinate in payment and lien priority to
the Loan and the PFGI Loan to the extent of the proceeds of the collateral.&nbsp;
Under the Intercreditor Agreement, all money received from any foreclosure on
the collateral securing the PFGI Loan shall be applied to PFGI and Golden
Bridge for their expenses related to such event and then on a pari passu basis
to PFGI and Golden Bridge in accordance with their respective pro rata shares.</font></p>

<p class=MsoNormal style='text-indent:.5in;text-autospace:none'><font size=2
color=black face="Times New Roman">&nbsp;</font></p>

<p class=MsoNormal style='text-indent:.5in;text-autospace:none'><font size=2
color=black face="Times New Roman">Prior
to the closing of the Loan, borrowings under the PFGI Loan were secured by
GTDT's leasehold estates and business assets with respect to certain of GTDT's
restaurants located in Boulder, Adams, Jefferson and Larimer counties in
Colorado and first deeds of trust on real property in Arapahoe and Weld
counties in Colorado developed under the PFGI Loan.&nbsp; In connection with PFGI's
entry into the Intercreditor Agreement, GTDT and the Company entered into a
first amendment to amended and restated promissory note dated April 20, 2009
(the &quot;PFGI Note Amendment&quot;), which extended the maturity date of the PFGI Loan
until July 10, 2010 and eliminated a loan balance threshold for release of the
collateral securing the PFGI Loan.</font></p>

<p class=MsoNormal style='text-indent:.5in;text-autospace:none'><font size=2
color=black face="Times New Roman">&nbsp;</font></p>

<div>

<table cellspacing=0 cellpadding=0 hspace=0 vspace=0 align=center>
 <tr>
  <td valign=top align=left style='padding-top:0in;padding-right:0in;
  padding-bottom:0in;padding-left:0in'>
  <p class=MsoFooter><font size=3 face="Times New Roman">2</font></p>
  </td>
 </tr>
</table>

</div>

<br clear=ALL>

<p class=MsoFooter><font size=1 face=Arial>&nbsp;</font></p>

<div class=MsoNormal align=center style='text-align:center'><font size=2
face="Times New Roman">

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</font></div>

<p class=MsoNormal style='line-height:1.0pt'><font size=2 face="Times New Roman">&nbsp;</font></p>

<font size=2 face="Times New Roman"><br clear=all style='page-break-before:always'>
</font>

<p class=MsoNormal style='line-height:1.0pt'><font size=2 face="Times New Roman">&nbsp;</font></p>

<p class=MsoNormal style='line-height:1.0pt'><font size=2 face="Times New Roman">&nbsp;</font></p>

<p class=MsoHeader><font size=2 face="Times New Roman">&nbsp;</font></p>

<p class=MsoNormal style='line-height:1.0pt'><font size=2 face="Times New Roman">&nbsp;</font></p>

<p class=MsoNormal style='text-indent:.5in;text-autospace:none'><font size=2
color=black face="Times New Roman">In
connection with the Loan, the Company issued a three-year warrant dated April 20,
2009 (the &quot;Warrant&quot;) to Golden Bridge which provides that Golden Bridge may at
any time from April 20, 2009 until April 20, 2012 purchase up to 92,500 shares
of the Company's common stock (the &quot;Warrant Shares&quot;) at an exercise price of $1.15
per share.&nbsp; The number of Warrant Shares and the exercise price are subject to
customary antidilution adjustments upon the occurrence of any stock dividends,
stock splits, reverse stock splits, recapitalizations, reclassifications, stock
combinations or similar events.&nbsp; </font></p>

<p class=MsoNormal style='text-indent:.5in;text-autospace:none'><font size=2
color=black face="Times New Roman">&nbsp;</font></p>

<p class=MsoNormal style='text-indent:.5in;text-autospace:none'><font size=2
color=black face="Times New Roman">The
issuance of the Warrant was made in reliance on the exemption from registration
under the Securities Act of 1933 (the &quot;Securities Act&quot;) as provided in Section
4(2) of the Securities Act.&nbsp; The facts relied upon to make such exemption
available include the fact that only one offeree and purchaser was involved,
the limited manner of offering, the status of the purchaser as either an
&quot;accredited investor&quot; as defined in Regulation D under the Securities Act or
sophisticated as to the nature of the particular transaction, and the
restricted status of the security as evidenced by a customary restrictive
legend on the document for the security.</font></p>

<p class=MsoNormal style='text-autospace:none'><font size=2
face="Times New Roman">&nbsp;</font></p>

<p class=MsoNormal style='text-indent:.5in;text-autospace:none'><font size=2
face="Times New Roman">The Loan Agreement, Note,
Intercreditor Agreement, PFGI Note Amendment, and Warrant (collectively, the
&quot;Loan Documents&quot;) are filed as Exhibits 10.1, 10.2, 10.3, 10.4 and<font
color=black> 4.1, respectively, to this Current
Report on Form 8-K and are incorporated herein by reference.&nbsp; The foregoing
summary of the Loan Documents </font>is qualified in its entirety by
reference to the full text of the Loan Documents filed as exhibits hereto.</font></p>

<p class=MsoNormal style='text-autospace:none'><font size=2 color=black
face="Times New Roman">&nbsp;</font></p>

<p class=MsoNormal style='margin-left:1.0in;text-indent:-1.0in;text-autospace:
none'><b><font size=2 color=black face="Times New Roman">Item 2.03&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Creation
of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet
Arrangement of a Registrant.</font></b></p>

<p class=MsoNormal style='margin-left:1.0in;text-indent:-1.0in;text-autospace:
none'><b><font size=2 color=black face="Times New Roman">&nbsp;</font></b></p>

<p class=MsoNormal style='text-indent:.5in;text-autospace:none'><font size=2
color=black face="Times New Roman">On
April 20, 2009, the Company and GTDT obtained the Loan from Golden Bridge.&nbsp; The
description of the Loan and the related Loan Documents contained in Item 1.01
above is incorporated herein by reference.</font></p>

<p class=MsoNormal style='text-autospace:none'><font size=2 color="#000033"
face="Times New Roman">&nbsp;</font></p>

<p class=MsoNormal style='text-align:justify'><b><font size=2
face="Times New Roman">Item
9.01&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Financial Statements and Exhibits.</font></b></p>

<p class=MsoNormal style='text-align:justify'><font size=2
face="Times New Roman">&nbsp;</font></p>

<p class=MsoNormal style='text-indent:.5in'><font size=2 face="Times New Roman">(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Exhibits.&nbsp; The following exhibits are filed
as part of this report:</font></p>

<p class=MsoNormal style='text-indent:.5in'><font size=2 face="Times New Roman">&nbsp;</font></p>

<div align=center>

<table class=MsoNormalTable border=0 cellspacing=0 cellpadding=0 width=528
 style='width:5.5in;margin-left:662.95pt;border-collapse:collapse'>
 <tr>
  <td width=67 valign=top style='width:50.15pt;padding:0in 5.4pt 0in 5.4pt'>
  <p class=MsoNormal align=center style='text-align:center'><font size=2
  face="Times New Roman">Exhibit</font></p>
  <p class=MsoNormal align=center style='text-align:center'><u><font size=2
  face="Times New Roman">Number</font></u></p>
  </td>
  <td width=461 valign=top style='width:345.85pt;padding:0in 5.4pt 0in 5.4pt'>
  <p class=MsoNormal><u><font size=2 face="Times New Roman">&nbsp;</font></u></p>
  <p class=MsoNormal><u><font size=2 face="Times New Roman">Description</font></u></p>
  </td>
 </tr>
 <tr>
  <td width=67 valign=top style='width:50.15pt;padding:0in 5.4pt 0in 5.4pt'>
  <p class=MsoNormal align=center style='text-align:center'><font size=2
  face="Times New Roman">4.1</font></p>
  </td>
  <td width=461 valign=top style='width:345.85pt;padding:0in 5.4pt 0in 5.4pt'>
  <p class=MsoNormal><font size=2 face="Times New Roman">Warrant to Purchase Shares of Common Stock, Par
  Value $0.01 Per Share dated April 20, 2009 by Good Times Restaurants Inc.</font></p>
  </td>
 </tr>
 <tr>
  <td width=67 valign=top style='width:50.15pt;padding:0in 5.4pt 0in 5.4pt'>
  <p class=MsoNormal align=center style='text-align:center'><font size=2
  face="Times New Roman">10.1</font></p>
  </td>
  <td width=461 valign=top style='width:345.85pt;padding:0in 5.4pt 0in 5.4pt'>
  <p class=MsoNormal><font size=2 face="Times New Roman">Loan Agreement dated April 20, 2009 among Golden
  Bridge, LLC, Good Times Drive Thru Inc. and Good Times Restaurants Inc.</font></p>
  </td>
 </tr>
 <tr>
  <td width=67 valign=top style='width:50.15pt;padding:0in 5.4pt 0in 5.4pt'>
  <p class=MsoNormal align=center style='text-align:center'><font size=2
  face="Times New Roman">10.2</font></p>
  </td>
  <td width=461 valign=top style='width:345.85pt;padding:0in 5.4pt 0in 5.4pt'>
  <p class=MsoNormal><font size=2 face="Times New Roman">Promissory Note dated April 20, 2009 by Good Times
  Drive Thru Inc. and Good Times Restaurants Inc.</font></p>
  </td>
 </tr>
 <tr>
  <td width=67 valign=top style='width:50.15pt;padding:0in 5.4pt 0in 5.4pt'>
  <p class=MsoNormal align=center style='text-align:center'><font size=2
  face="Times New Roman">10.3</font></p>
  </td>
  <td width=461 valign=top style='width:345.85pt;padding:0in 5.4pt 0in 5.4pt'>
  <p class=MsoNormal><font size=2 face="Times New Roman">Intercreditor Agreement dated April 20, 2009 among
  PFGI II, LLC, Golden Bridge, LLC, Good Times Drive Thru Inc. and Good Times
  Restaurants Inc.</font></p>
  </td>
 </tr>
 <tr>
  <td width=67 valign=top style='width:50.15pt;padding:0in 5.4pt 0in 5.4pt'>
  <p class=MsoNormal align=center style='text-align:center'><font size=2
  face="Times New Roman">10.4</font></p>
  </td>
  <td width=461 valign=top style='width:345.85pt;padding:0in 5.4pt 0in 5.4pt'>
  <p class=MsoNormal><font size=2 face="Times New Roman">First Amendment to Amended and Restated Promissory
  Note dated April 20, 2009 by Good Times Drive Thru Inc. and Good Times
  Restaurants Inc.</font></p>
  </td>
 </tr>
</table>

</div>

<p class=MsoNormal style='text-align:justify'><font size=3
face="Times New Roman">&nbsp;</font></p>

<div>

<table cellspacing=0 cellpadding=0 hspace=0 vspace=0 align=center>
 <tr>
  <td valign=top align=left style='padding-top:0in;padding-right:0in;
  padding-bottom:0in;padding-left:0in'>
  <p class=MsoFooter><font size=3 face="Times New Roman">3</font></p>
  </td>
 </tr>
</table>

</div>

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<p class=MsoFooter><font size=1 face=Arial>&nbsp;</font></p>

<div class=MsoNormal align=center style='text-align:center'><font size=2
face="Times New Roman">

<hr size=2 width="100%" noshade style='color:navy' align=center>

</font></div>

<p class=MsoNormal style='line-height:1.0pt'><font size=2 face="Times New Roman">&nbsp;</font></p>



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</font>



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<h3><b><font size=2 face="Times New Roman">SIGNATURES</font></b></h3>

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<p class=MsoBodyTextIndent3><font size=2 face="Times New Roman">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.</font></p>

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<p class=MsoNormal><font size=2 face="Times New Roman">&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;&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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; GOOD
TIMES RESTAURANTS INC.</font></p>

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<p class=MsoNormal><font size=2 face="Times New Roman">&nbsp;</font></p>

<p class=MsoNormal><font size=2 face="Times New Roman">Date:&nbsp; April 20, 2009&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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; By: &nbsp;<i><u>/s/ Boyd E. Hoback</u></i></font></p>

<p class=MsoNormal><font size=2 face="Times New Roman">&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;&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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Boyd
E. Hoback</font></p>

<p class=MsoFooter><font size=2 face="Times New Roman">&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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; President and Chief Executive
Officer</font></p>

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<title>Counsel</title>



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<p class=MsoNormal>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; THE SECURITIES REPRESENTED HEREBY MAY NOT BE
TRANSFERRED UNLESS (I) SUCH SECURITIES HAVE BEEN REGISTERED FOR SALE PURSUANT
TO THE SECURITIES ACT OF 1933, AS AMENDED (THE <b>&quot;SECURITIES ACT&quot;</b>), OR
(II) THE COMPANY HAS RECEIVED AN OPINION OF COUNSEL REASONABLY SATISFACTORY TO
IT THAT SUCH TRANSFER MAY LAWFULLY BE MADE WITHOUT REGISTRATION UNDER THE
SECURITIES ACT OR QUALIFICATION UNDER APPLICABLE STATE SECURITIES LAWS.</p>



<p class=MsoNormal>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; SUBJECT TO THE PROVISIONS OF SECTION 10 HEREOF,
THIS WARRANT SHALL BE VOID AFTER 5:00 P.M. MOUNTAIN TIME ON THE THIRD
ANNIVERSARY OF THE CLOSING DATE (THE <b>&quot;EXPIRATION DATE&quot;</b>).</p>



<p class=MsoNormal><u>No. 101</u></p>





<p class=MsoNormal style='line-height:150%'><b>&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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; GOOD
TIMES RESTAURANTS INC.</b></p>

<p class=MsoNormal style='line-height:150%'><b>&nbsp;</b></p>

<p class=MsoNormal style='line-height:150%'><b>&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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; WARRANT
TO PURCHASE SHARES OF</b></p>

<p class=MsoNormal style='line-height:150%'><b>&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; COMMON
STOCK, PAR VALUE $0.01 PER SHARE</b></p>



<p class=MsoNormal style='line-height:150%'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; For VALUE RECEIVED,
Golden Bridge LLC, a Colorado limited liability company (<b>&quot;Warrantholder&quot;</b>),
is entitled to purchase, subject to the provisions of this Warrant, from GOOD
TIMES RESTAURANTS INC., a Nevada corporation (the <b>&quot;Company&quot;</b>), from and
after the date hereof (the <b>&quot;Initial Exercise Date&quot;</b>) and at any time not
later than 5:00 P.M., Mountain time, on the Expiration Date, at an exercise
price per share equal to $1.15 (the <b>&quot;Warrant Price&quot;</b>), 92,500 shares (<b>&quot;Warrant
Shares&quot;</b>) of the Company's Common Stock, par value $0.01 per share (<b>&quot;Common
Stock&quot;</b>).&nbsp; The number of Warrant Shares purchasable upon exercise of this
Warrant and the Warrant Price shall be subject to adjustment from time to time
as described herein.&nbsp; </p>

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<p class=MsoNormal style='line-height:150%'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Section 1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <u>Transfers</u>.&nbsp; As provided herein, this Warrant may be transferred only pursuant
to a registration statement filed under the Securities Act of 1933, as amended
(the <b>&quot;Securities Act&quot;</b>), or an exemption from such registration.&nbsp; Subject
to such restrictions, the Company shall transfer this Warrant from time to time
upon the books to be maintained by the Company for that purpose, upon surrender
hereof for transfer, properly endorsed or accompanied by appropriate
instructions for transfer and such other documents as may be reasonably
required by the Company, including, if required by the Company, an opinion of
its counsel to the effect that such transfer is exempt from the registration
requirements of the Securities Act, and a new Warrant shall be issued to the
transferee and the surrendered Warrant shall be canceled by the Company.</p>

<p class=MsoNormal style='line-height:150%'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Section 2.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <u>Exercise
of Warrant</u>.&nbsp; Subject to the provisions hereof, the Warrantholder may
exercise this Warrant, in whole or in part, at any time and from time to time
prior to its expiration upon surrender of the Warrant, together with delivery
of a duly executed Warrant exercise form, in the form attached hereto as <u>Appendix
A</u> (the <b>&quot;Exercise Agreement&quot;</b>) and payment by certified check or wire
transfer of funds of the aggregate Warrant Price for that number of Warrant
Shares then being purchased, to the Company.&nbsp; The Warrant Shares so purchased
shall be deemed to be issued to the Warrantholder as the record owner of such
shares, as of the close of business on the date on which this Warrant shall
have been surrendered for exercise, the Warrant Price shall have been paid and
the completed Exercise Agreement shall have been delivered.&nbsp; Certificates for
the Warrant Shares so purchased shall be delivered to the Warrantholder within
a reasonable time after this Warrant shall have been so exercised.&nbsp; The
certificates so delivered shall be in such denominations as may be requested by
the Warrantholder and shall be registered in the name of the Warrantholder.&nbsp; If
this Warrant shall have been exercised only in part, then, unless this Warrant
has expired, the Company shall, at the time of delivery of such certificates
deliver to the Warrantholder a new Warrant representing the right to purchase
the number of shares with respect to which this Warrant shall not then have
been exercised.</p>

<p class=MsoNormal style='line-height:150%'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Section 3.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <u>Compliance
with the Securities Act of 1933</u>. Except as provided in the Purchase
Agreement, the Company may cause the legend set forth on the first page of this
Warrant to be set forth on each Warrant, and a similar legend on any security
issued or issuable upon exercise of this Warrant, unless counsel for the
Company is of the opinion as to any such security that such legend is unnecessary.</p>

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<p class=MsoNormal style='line-height:150%'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Section &nbsp;4.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <u>Reservation
of Common Stock</u>.&nbsp; The Company hereby represents and warrants that there
have been reserved, and the Company shall at all applicable times keep reserved
until issued out of the authorized and unissued shares of Common Stock
sufficient shares to provide for the exercise of the rights of purchase
represented by this Warrant.&nbsp; The Company agrees that all Warrant Shares issued
upon due exercise of the Warrant shall be, at the time of delivery of the
certificates for such Warrant Shares, duly authorized, validly issued, fully
paid, and non-assessable shares of Common Stock of the Company.</p>

<p class=MsoNormal style='line-height:150%'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Section 5.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <u>Adjustments</u>.&nbsp;
Subject and pursuant to the provisions of this Section 5, the Warrant Price and
number of Warrant Shares subject to this Warrant shall be subject to adjustment
from time to time as set forth hereinafter.</p>

<p class=MsoNormal style='line-height:150%'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; If
the Company shall, at any time or from time to time while this Warrant is
outstanding, pay a dividend or make a distribution on its Common Stock in
shares of Common Stock, subdivide its outstanding shares of Common Stock into a
greater number of shares or combine its outstanding shares of Common Stock into
a smaller number of shares, or issue by reclassification of its outstanding
shares of Common Stock any shares of its capital stock (including any such
reclassification in connection with a consolidation or merger in which the
Company is the continuing corporation), then (i) the Warrant Price in effect
immediately prior to the date on which such change shall become effective shall
be adjusted by multiplying such Warrant Price by a fraction, the numerator of
which shall be the number of shares of Common Stock outstanding immediately
prior to such change and the denominator of which shall be the number of shares
of Common Stock outstanding immediately after giving effect to such change, and
(ii) the number of Warrant Shares purchasable upon exercise of this Warrant
shall be adjusted by multiplying the number of Warrant Shares purchasable upon
exercise of this Warrant immediately prior to the date on which such change
shall become effective by a fraction, the numerator of which shall be the
Warrant Price in effect immediately prior to the date on which such change
shall become effective and the denominator of which shall be the Warrant Price
in effect immediately after giving effect to such change, calculated in
accordance with clause (i) above.&nbsp; Such adjustments shall be made successively
whenever any event listed above shall occur.</p>

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<p class=MsoNormal style='line-height:150%'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; If
any capital reorganization, reclassification of the capital stock of the
Company, consolidation or merger of the Company with another corporation in
which the Company is not the survivor, or sale, transfer, or other disposition
of all or substantially all of the Company's assets to another corporation
shall be effected, then, as a condition of such reorganization,
reclassification, consolidation, merger, sale, transfer, or other disposition,
lawful and adequate provision shall be made whereby each Warrantholder shall
thereafter have the right to purchase and receive upon the basis and upon the
terms and conditions herein specified and in lieu of the Warrant Shares
immediately theretofore issuable upon exercise of the Warrant, such shares of
stock, securities, or assets as would have been issuable or payable with
respect to or in exchange for a number of Warrant Shares equal to the number of
Warrant Shares immediately theretofore issuable upon exercise of the Warrant,
had such reorganization, reclassification, consolidation, merger, sale,
transfer, or other disposition not taken place, and in any such case
appropriate provision shall be made with respect to the rights and interests of
each Warrantholder to the end that the provisions hereof (including, without
limitation, provision for adjustment of the Warrant Price) shall thereafter be
applicable, as nearly equivalent as may be practicable in relation to any
shares of stock, securities, or assets thereafter deliverable upon the exercise
hereof.&nbsp; The Company shall not effect any such consolidation, merger, sale,
transfer, or other disposition unless prior to or simultaneously with the
consummation thereof the successor corporation (if other than the Company)
resulting from such consolidation or merger, or the corporation purchasing or otherwise
acquiring such assets or other appropriate corporation or entity, shall assume
the obligation to deliver to the Warrantholder, at the last address of the
Warrantholder appearing on the books of the Company, such shares of stock,
securities, or assets as, in accordance with the foregoing provisions, the
Warrantholder may be entitled to purchase, and the other obligations under this
Warrant.</p>

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<p class=MsoNormal style='line-height:150%'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; In
case the Company shall fix a payment date for the making of a distribution to
all holders of Common Stock (including any such distribution made in connection
with a consolidation or merger in which the Company is the continuing
corporation) of evidences of indebtedness or assets (other than cash dividends
or cash distributions payable out of consolidated earnings or earned surplus or
dividends or distributions referred to in Section 5(a)), or subscription rights
or warrants, the Warrant Price to be in effect after such payment date shall be
determined by multiplying the Warrant Price in effect immediately prior to such
payment date by a fraction, the numerator of which shall be the total number of
shares of Common Stock outstanding multiplied by the Market Price (as defined
below) per share of Common Stock immediately prior to such payment date, less
the fair market value (as determined by the Company's Board of Directors in
good faith) of such assets or evidences of indebtedness so distributed, or of
such subscription rights or warrants, and the denominator of which shall be the
total number of shares of Common Stock outstanding multiplied by such Market
Price per share of Common Stock immediately prior to such payment date.&nbsp; <b>&quot;Market
Price&quot;</b> shall mean, as of a particular date (the <b>&quot;Valuation Date&quot;</b>),
the following: (a) if the Common Stock is then listed on a national stock
exchange, the closing sale price of one share of Common Stock on such exchange
on the last Trading Day prior to the Valuation Date; (b) if the Common Stock is
then quoted on the National Association of Securities Dealers, Inc. OTC
Bulletin Board (the <b>&quot;Bulletin Board&quot;</b>) or such similar quotation system
or association, the closing sale price of one share of Common Stock on the
Bulletin Board or such other quotation system or association on the last
Trading Day prior to the Valuation Date or, if no such closing sale price is
available, the average of the high bid and the low asked price quoted thereon
on the last Trading Day prior to the Valuation Date; (c) if the Common Stock is
then included in the &quot;pink sheets,&quot; the closing sale price of one share of
Common Stock on the &quot;pink sheets&quot; on the last Trading Day prior to the
Valuation Date or, if no such closing sale price is available, the average of
the high bid and the low ask price quoted on the &quot;pink sheets&quot; as of the end of
the last Trading Day prior to the Valuation Date; or (d) if the Common Stock is
not then listed on a national stock exchange or quoted on the Bulletin Board,
the &quot;pink sheets&quot; or such other quotation system or association, the fair
market value of one share of Common Stock as of the Valuation Date, as
determined in good faith by the Board of Directors of the Company and the
Warrantholder.&nbsp; In the event that the Board of Directors of the Company and the
Warrantholder are unable to agree upon the fair market value in respect of subpart
(d) of this paragraph, the Company and the Warrantholder shall jointly select
an appraiser who is experienced in such matters.&nbsp; The decision of such
appraiser shall be final and conclusive, and the cost of such appraiser shall
be borne equally by the Company and the Warrantholder.&nbsp; Such adjustment shall
be made successively whenever such a payment date is fixed.</p>

<p class=MsoNormal style='line-height:150%'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; An
adjustment to the Warrant Price shall become effective immediately after the
payment date in the case of each dividend or distribution and immediately after
the effective date of each other event which requires an adjustment.</p>

<p class=MsoNormal style='line-height:150%'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (e)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; In
the event that, as a result of an adjustment made pursuant to this Section 5,
the Warrantholder shall become entitled to receive any shares of capital stock
of the Company other than shares of Common Stock, the number of such other
shares so receivable upon exercise of this Warrant shall be subject thereafter
to adjustment from time to time in a manner and on terms as nearly equivalent
as practicable to the provisions with respect to the Warrant Shares contained
in this Warrant.</p>

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<p class=MsoNormal style='line-height:150%'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Section 6.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <u>Benefits</u>.&nbsp; Nothing in this Warrant shall be construed to give any person, firm,
or corporation (other than the Company and the Warrantholder) any legal or
equitable right, remedy, or claim, it being agreed that this Warrant shall be
for the sole and exclusive benefit of the Company and the Warrantholder.</p>

<p class=MsoNormal style='line-height:150%'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Section 7.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <u>Notices
to Warrantholder</u>.&nbsp; Upon the happening of any event requiring an adjustment
of the Warrant Price, the Company shall promptly give written notice thereof to
the Warrantholder at the address appearing in the records of the Company,
stating the adjusted Warrant Price and the adjusted number of Warrant Shares
resulting from such event and setting forth in reasonable detail the method of
calculation and the facts upon which such calculation is based.&nbsp; Failure to
give such notice to the Warrantholder or any defect therein shall not affect
the legality or validity of the subject adjustment.</p>

<p class=MsoNormal style='line-height:150%'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Section 8.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <u>Notices</u>.&nbsp;
Unless otherwise provided, any notice required or permitted under this Warrant
shall be given in writing and shall be deemed effectively given as hereinafter
described (i) if given by personal delivery, then such notice shall be deemed
given upon such delivery, (ii) if given by telex or facsimile, then such notice
shall be deemed given upon receipt of confirmation of complete transmittal,
(iii) if given by mail, then such notice shall be deemed given upon the earlier
of (A) receipt of such notice by the recipient or (B) three days after such
notice is deposited in first class mail, postage prepaid, and (iv) if given by
an internationally recognized overnight air courier, then such notice shall be
deemed given one business day after delivery to such carrier.&nbsp; All notices
shall be addressed as follows: if to the Warrantholder, at its address as set
forth in the Company's books and records and, if to the Company, at the address
as follows, or at such other address as the Warrantholder or the Company may
designate by ten days' advance written notice to the other:</p>

<p class=MsoNormal style='line-height:150%;page-break-after:avoid'>&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;&nbsp;&nbsp;&nbsp;&nbsp; If
to the Company:</p>

<p class=MsoNormal style='margin-left:2.0in;line-height:150%'>GOOD TIMES
RESTAURANTS INC.</p>

<p class=MsoNormal style='margin-left:2.0in;line-height:150%'>601 Corporate
Circle</p>

<p class=MsoNormal style='margin-left:2.0in;line-height:150%'>Golden, CO 80401</p>

<p class=MsoNormal style='line-height:150%'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Section 9.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <u>
Successors</u>.&nbsp; All the covenants and provisions hereof by or for the benefit
of the Warrantholder shall bind and inure to the benefit of its respective
successors and assigns hereunder. </p>

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<p class=MsoNormal style='line-height:150%'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Section 10.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <u>Governing
Law; Consent to Jurisdiction; Waiver of Jury Trial</u>.&nbsp; This Warrant shall be
governed by, and construed in accordance with, the internal laws of the State
of Nevada, without reference to the choice of law provisions thereof.&nbsp; The
Company and, by accepting this Warrant, the Warrantholder, each irrevocably
submits to the exclusive jurisdiction of the courts of Colorado for the purpose
of any suit, action, proceeding, or judgment relating to or arising out of this
Warrant and the transactions contemplated hereby.&nbsp; Service of process in
connection with any such suit, action, or proceeding may be served on each
party hereto anywhere in the world by the same methods as are specified for the
giving of notices under this Warrant.&nbsp; The Company and, by accepting this
Warrant, the Warrantholder, each irrevocably consents to the jurisdiction of
any such court in any such suit, action, or proceeding, and to the laying of
venue in such court.&nbsp; The Company and, by accepting this Warrant, the
Warrantholder, each irrevocably waives any objection to the laying of venue of
any such suit, action, or proceeding brought in such courts and irrevocably
waives any claim that any such suit, action, or proceeding brought in any such
court has been brought in an inconvenient forum. <b>&nbsp;EACH OF THE COMPANY AND,
BY ITS ACCEPTANCE HEREOF, THE WARRANTHOLDER HEREBY WAIVES ANY RIGHT TO REQUEST
A TRIAL BY JURY IN ANY LITIGATION WITH RESPECT TO THIS WARRANT AND REPRESENTS
THAT COUNSEL HAS BEEN CONSULTED SPECIFICALLY AS TO THIS WAIVER.</b></p>

<p class=MsoNormal style='line-height:150%'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Section 11.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <u>No Rights as Stockholder</u>.&nbsp;
Prior to the exercise of this Warrant, the Warrantholder shall not have or
exercise any rights as a stockholder of the Company by virtue of its ownership
of this Warrant.</p>

<p class=MsoNormal style='line-height:150%'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Section 12.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <u>Amendment;
Waiver</u>&nbsp; Any term of this Warrant may be amended or waived (including the
adjustment provisions included in Section 8 of this Warrant) upon the written
consent of the Company and the Warrantholder.</p>

<p class=MsoNormal style='line-height:150%'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; IN WITNESS WHEREOF, the
Company has caused this Warrant to be duly executed, as of the 20 day of April,
2009.</p>



<p class=MsoNormal>&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;&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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; GOOD
TIMES RESTAURANTS INC.</p>





<p class=MsoNormal>&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;&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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; By<i><u>:/s/
Boyd E. Hoback</u></i></p>

<p class=MsoNormal>&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;&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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Name:
Boyd E. Hoback</p>

<p class=MsoNormal>&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;&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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Title:
President and CEO</p>

<div>

<table cellspacing=0 cellpadding=0 hspace=0 vspace=0 align=center>
 <tr>
  <td valign=top align=left style='padding-top:0in;padding-right:0in;
  padding-bottom:0in;padding-left:0in'>
  <p class=MsoFooter>7</p>
  </td>
 </tr>
</table>

</div>

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<p class=MsoNormal align=center style='text-align:center'>APPENDIX A</p>

<p class=MsoNormal align=center style='text-align:center'>GOOD TIMES
RESTAURANTS INC.</p>

<p class=MsoNormal align=center style='text-align:center'>WARRANT EXERCISE FORM</p>



<p class=MsoNormal style='line-height:150%'>To GOOD TIMES RESTAURANTS INC.:</p>

<p class=MsoNormal style='line-height:150%'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The undersigned hereby
irrevocably elects to exercise the right of purchase represented by the within
Warrant (<b>&quot;Warrant&quot;</b>) for, and to purchase thereunder by the payment of
the Warrant Price and surrender of the Warrant, _______________ shares of
Common Stock (<b>&quot;Warrant Shares&quot;</b>) provided for therein, and requests that
certificates for the Warrant Shares be issued as follows: </p>

<p class=MsoNormal style='line-height:150%'>&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;&nbsp;&nbsp;&nbsp;&nbsp; Name:&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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </u></p>

<p class=MsoNormal style='line-height:150%'>&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;&nbsp;&nbsp;&nbsp;&nbsp; Address:&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;&nbsp;&nbsp; <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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </u></p>

<p class=MsoNormal style='line-height:150%'>&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;&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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </u></p>

<p class=MsoNormal style='line-height:150%'>&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;&nbsp;&nbsp;&nbsp;&nbsp; Federal
Tax ID</p>

<p class=MsoNormal style='line-height:150%'>&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;&nbsp;&nbsp;&nbsp;&nbsp; Or
Social Security No.:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </u></p>

<p class=MsoNormal style='line-height:150%'><u>&nbsp;</u></p>

<p class=MsoNormal style='line-height:150%'>and, if the number of Warrant
Shares shall not be all the Warrant Shares purchasable upon exercise of the
Warrant, that a new Warrant for the balance of the Warrant Shares purchasable
upon exercise of this Warrant be registered in the name of the undersigned
Warrantholder or the undersigned's Assignee as below indicated and delivered to
the address stated below.</p>



<p class=MsoNormal>Dated: ___________________, ____&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;&nbsp;&nbsp;&nbsp;&nbsp; Signature:_______________________</p>

<p class=MsoNormal>&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;&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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </p>

<p class=MsoNormal>&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;&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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; _______________________________</p>

<p class=MsoNormal>&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;&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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Name
(please print)</p>



<p class=MsoNormal>&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;&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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ______________________________</p>

<p class=MsoNormal>&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;&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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ______________________________</p>

<p class=MsoNormal>&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;&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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Address</p>

<p class=MsoNormal>&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;&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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ______________________________</p>

<p class=MsoNormal>&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;&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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Federal
Identification or</p>

<p class=MsoFooter align=center style='text-align:center'>&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;&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;&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;&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;&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;&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;&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;&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;&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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Social
Security No.
- -8-</p>

<p class=MsoFooter align=left style='text-align:left;line-height:10.0pt'>9550470.1 </p>

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</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-2
<SEQUENCE>3
<FILENAME>goldenbridgeloanagreement1.htm
<TEXT>
<html>

<head>
<!-- Document Prepared With E-Services, LLC HTML Software-->
<!-- Copyright 2006 E-Services, LLC.-->
<!-- All rights reserved EDGAR2.com -->



<title>BAF Single Site Loan Agreement</title>



</head>

<body lang=EN-US link=blue vlink=purple>



<h3>&nbsp;</h3>

<h3>&nbsp;</h3>









<h3>LOAN AGREEMENT</h3>

<p class=MsoBodyText style='line-height:150%'>THIS <b>LOAN AGREEMENT </b>(as it
may hereafter be amended, supplemented, extended or renewed from time to time,
the &quot;<b><i>Agreement</i></b>&quot;) is made as of April 20, 2009 by and among Golden Bridge LLC, a
Colorado limited liability company, (&quot;<b><i>Lender</i></b>&quot;), GOOD TIMES DRIVE
THRU, INC., a Colorado corporation (&quot;<b><i>Borrower</i></b>&quot;) and GOOD TIMES
RESTAURANTS INC., a Nevada corporation (&quot;<b><i>Co-Maker</i></b>&quot;).</p>

<p class=MsoBodyText style='line-height:150%'><b><i>For valuable consIderation</i></b>, the parties agree as
follows:</p>

<p class=ArticleL1 style='margin-left:0in;text-indent:0in;line-height:150%'><b>ARTICLE 1</b><br>
DEFINITIONS</p>

<p class=ArticleL2 style='margin-left:0in;line-height:150%'>1.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<u>Definitions</u>.&nbsp; The following terms shall have the following meanings:</p>

<p class=MsoBodyText style='line-height:150%'>&quot;<b><i>Loan</i></b>&quot; means the
financing in the amount of $185,000 provided by Lender to Borrower in
accordance with this Agreement and the other Loan Documents.</p>

<p class=MsoBodyText style='line-height:150%'>&quot;<b><i>Loan Documents</i></b>&quot;
means, collectively, this Agreement, the Note, the Intercreditor Agreement of
even date herewith attached hereto as Exhibit A and the Warrant Agreement of
even date herewith attached hereto as Exhibit B, all as they may be amended,
supplemented, extended or renewed from time to time.</p>

<p class=MsoBodyText style='line-height:150%'>&quot;<b><i>Note</i></b>&quot; means the Promissory
Note of even date herewith executed by Borrower and Co-Maker in favor of Lender
evidencing the Loan, as amended, supplemented, restated, substituted or renewed
from time to time.</p>

<p class=ArticleL1 style='margin-left:0in;text-indent:0in;line-height:150%'><b>ARTICLE 2</b><br>
THE TRANSACTION</p>

<p class=ArticleL2 style='margin-left:0in;line-height:150%'>2.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<u>The Loan</u>.&nbsp; Subject to the terms and conditions of this Agreement,
Lender agrees to make the Loan to Borrower and Borrower agrees to borrow the
Loan from Lender.</p>

<p class=MsoFooter style='line-height:10.0pt'>8789351. 3</p>

<div class=MsoNormal align=center style='text-align:center'>

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<p class=ArticleL2 style='margin-left:0in;line-height:150%'>2.2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<u>The Note</u>.&nbsp; The Loan shall be evidenced by the Note and the
Intercreditor Agreement between Lender and PFGI II, LLC, a Colorado limited
liability company (&quot;PFGI&quot;).&nbsp; Borrower shall repay the outstanding principal
amount of the Loan together with interest thereon in the manner and in
accordance with the terms and conditions of the Note.</p>

<p class=ArticleL2 style='margin-left:0in;line-height:150%'>2.3&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<u>Commitment Fee</u>.&nbsp; At Closing, Borrower shall pay to Lender a commitment
fee in the amount of $3,700.</p>

<p class=ArticleL2 style='margin-left:0in;line-height:150%'>2.4&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<u>Purpose of the Loan</u>.&nbsp; The proceeds of the Loan shall be used by Borrower
for the restaurant marketing and other working capital costs of Borrower.</p>

<p class=ArticleL2 style='margin-left:0in;line-height:150%'>2.5&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<u>Closing; Disbursements</u>.&nbsp; The Closing of the Loan (&quot;Closing&quot;)
shall occur on April 20, 2009 at which time the Loan shall be disbursed by
Lender by wire transfer of immediately available funds to Borrower.</p>

<p class=ArticleL2 style='margin-left:0in;line-height:150%'>2.6&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<u>Conditions Precedent</u>.&nbsp; The obligation of Lender and Borrower to
consummate the transaction contemplated by this Agreement and to make the Loan
is subject to the satisfaction of the conditions that (1) PFGII, LLC, Borrower
and Lender shall have entered into the Intercreditor Agreement attached hereto
as Exhibit A and the deeds of trust and security agreements referenced in such Intercreditor
Agreement shall have been amended as set forth in such Agreement, and (b)
Borrower shall have executed and delivered to Lender the Warrant Agreement attached
hereto as Exhibit B. </p>

<p class=ArticleL1 style='margin-left:0in;text-indent:0in;line-height:150%'><b>ARTICLE 3</b><br>
REPRESENTATIONS AND WARRANTIES</p>

<p class=MsoBodyText style='line-height:150%'>Borrower acknowledges and agrees
that (a) the representations and warranties in this Article are a material
consideration to Lender; (b) Lender is relying on the correctness and
completeness of all of these representations and warranties in making the Loan;
and (c) the representations and warranties are true and accurate as of the date
of this Agreement and will be true and accurate as of the Closing as if made on
the Closing date.&nbsp; Accordingly, Borrower represents, warrants and certifies to
Lender<b> </b>that:</p>

<div>

<table cellspacing=0 cellpadding=0 hspace=0 vspace=0 align=center>
 <tr>
  <td valign=top align=left style='padding-top:0in;padding-right:0in;
  padding-bottom:0in;padding-left:0in'>
  <p class=MsoFooter>2</p>
  </td>
 </tr>
</table>

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<p class=ArticleL2 style='margin-left:0in;line-height:150%'>3.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<u>Borrower Organizational Status; Power and Authority</u>.&nbsp; Borrower
and Co-Maker are each a corporation, duly organized or formed, validly existing
and in good standing under the laws of their respective states of incorporation.&nbsp;
Borrower has all requisite power and authority to own and operate its
properties, to carry on its businesses as now conducted and as proposed to be
conducted, and to enter into and perform the Loan Documents.</p>

<p class=ArticleL2 style='margin-left:0in;line-height:150%'>3.2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<u>Due Authorization and Execution; Performance; No Conflicts</u>.&nbsp; All
necessary entity action has been taken to authorize the execution, delivery,
consummation and performance by Borrower and Co-Maker of the Loan Documents.&nbsp; The
person(s) executing the Loan Documents on behalf of Borrower and Co-Maker are
duly authorized to do so.&nbsp; No approval, authorization, consent, certificate,
license, permit, registration, qualification or other action or grant by or
filing with any governmental authority or other person is required in
connection with the authorization, execution, delivery, consummation or
performance by Borrower or Co-Maker of the Loan Documents.&nbsp; The authorization,
execution, delivery, consummation and performance by Borrower and Co-Maker of
the Loan Documents will not conflict with or violate any of Borrower's or Co-Maker's
organizational documents or any applicable laws or result in any default (or
any event, that with the giving of notice or the passage of time, or both,
would constitute a default) under any document, instrument or agreement to
which Borrower or Co-Maker is a party or by which Borrower or Co-Maker or any
of their assets are bound.</p>

<p class=ArticleL2 style='margin-left:0in;line-height:150%'>3.3&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<u>Binding Obligations</u>.&nbsp; This Agreement and the other Loan Documents
have been duly executed and delivered by Borrower and Co-Maker and constitute
the legal, valid and binding obligations of Borrower and Co-Maker enforceable
against Borrower and Co-Maker in accordance with their respective terms, except
as enforceability may be limited by applicable bankruptcy, insolvency,
liquidation, reorganization and other laws affecting the rights of creditors
generally and general principles of equity (each a &quot;Bankruptcy Event&quot;).</p>

<p class=ArticleL1 style='margin-left:0in;text-indent:0in;line-height:150%'><b>ARTICLE 4</b><br>
DEFAULT AND REMEDIES</p>

<p class=ArticleL2 style='margin-left:0in;line-height:150%'>4.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<u>Defaults</u>.&nbsp; The following constitute events of default (each an &quot;Event
of Default&quot;):</p>

<p class=ArticleL4 style='line-height:150%'>(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<u>Monetary Defaults</u>.&nbsp; If any obligation for the payment of money is
not paid on or before the due date and such failure continues without being
fully cured within ten days following written notice to Borrower of such
failure.</p>

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<p class=ArticleL4 style='line-height:150%'>(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<u>Bankruptcy Events</u>.&nbsp; The occurrence of a Bankruptcy Event.</p>

<p class=ArticleL4 style='line-height:150%'>(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<u>PFGI II, LLC Agreement Default</u>.&nbsp; The occurrence of an Event of
Default under the Amended and Restated Loan Agreement dated July 1, 2008
between Borrower and PFGI II, LLC (the &quot;PFGI Loan Agreement&quot;).</p>

<p class=ArticleL2 style='margin-left:0in;line-height:150%'>4.2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<u>Remedies</u>.&nbsp; Upon the occurrence and during the continuance of an
Event of Default, Lender may declare all or any part of the Loan to be due and
payable without presentment, demand, protest or further notice of any kind.&nbsp; Borrower
waives notice of intent to accelerate the Loan and notice of acceleration.&nbsp; In
addition to declaring the Loan due and payable, Lender may exercise, at its
option, concurrently, successively or in any combination, all rights and
remedies now or in the future available under any of the Loan Documents or at
law or in equity.&nbsp; Neither the acceptance of this Agreement nor its enforcement
shall prejudice or in any manner affect Lender's rights to realize upon or
enforce its rights, and Lender is entitled to enforce this Agreement and its
rights and remedies in such manner as it may in its absolute discretion
determine.</p>

<p class=ArticleL2 style='margin-left:0in;line-height:150%'>4.3&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<u>Default Interest</u>.&nbsp; Any amounts not paid to Lender when due
(including amounts due by reason of acceleration) shall bear interest from the
due date until paid at the rate of 18 percent per annum.</p>

<p class=ArticleL1 style='margin-left:0in;text-indent:0in;line-height:150%'><b>ARTICLE 5</b><br>
Assignments by Lender</p>

<p class=ArticleL2 style='margin-left:0in;line-height:150%'>5.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<u>Right to Assign</u>.&nbsp; Lender, from time to time, may assign, sell, or
transfer in whole or in part its interests in the Note, the Loan, or any of its
rights under any of the Loan Documents (in each case, a &quot;Lender Transfer&quot;).</p>

<p class=ArticleL1 style='margin-left:0in;text-indent:0in;line-height:150%'><b>ARTICLE 6</b><br>
GENERAL PROVISIONS</p>

<p class=ArticleL2 style='margin-left:0in;line-height:150%'>6.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<u>Applicability of General Provisions</u>.&nbsp; The provisions of this
Article apply to this Agreement and to each of the other Loan Documents, the same
as if the provisions of this Article were set forth in full in each of the
other Loan Documents.</p>

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<p class=ArticleL2 style='margin-left:0in;line-height:150%'>6.2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<u>Notices</u>.&nbsp; All notices, consents, demands, and approvals required
or permitted to be given pursuant to this Agreement or the other Loan Documents
(each, a &quot;Notice&quot;) shall be in writing and shall be given by hand delivery; prepaid
express delivery service; or by certified U.S.&nbsp; mail, postage prepaid, return
receipt requested.&nbsp; Notices shall be delivered or addressed to the parties at
the addresses specified on the signature page or at such other address as a
party may designate to the other party in writing.&nbsp; Notices shall be effective
(a) on the date on which the notice is delivered, if notice is given by hand
delivery; (b) on the date of actual receipt, if the notice is sent by express
delivery service; or (c) on the date on which it is received or rejected as
reflected by a receipt if given by U.S. mail, addressed and sent as aforesaid.</p>

<p class=ArticleL2 style='margin-left:0in;line-height:150%'>6.3&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<u>Waiver and Amendment</u>.&nbsp; None of the terms and provisions of this
Agreement or the other Loan Documents shall be amended or modified, nor shall
Lender have waived any if its rights under any of the Loan Documents, unless Borrower
obtains the prior written consent of Lender with respect to such amendment,
modification or waiver, which consent may be withheld or conditioned in the
sole and absolute discretion of Lender, unless otherwise expressly provided.&nbsp; Waiver
of any matter shall not be deemed a waiver of the same or any other matter on
any future occasion.</p>

<p class=ArticleL2 style='margin-left:0in;line-height:150%'>6.4&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<u>Good Faith</u>.&nbsp; In acting on any request by Borrower for a consent
or approval to any matter or for a waiver with respect to any of the provisions
of any of the Loan Documents, notwithstanding the fact that Lender may be
entitled to withhold such consent, approval or request for a waiver in Lender's
sole and absolute discretion, Lender shall act in good faith with respect to
any such request for consent, approval, or waiver.</p>

<p class=ArticleL2 style='margin-left:0in;line-height:150%'>6.5&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<u>Time of Essence; Time Periods</u>.&nbsp; Time is of the essence of each
provision in this Agreement and the other Loan Documents in which time is an
element.&nbsp; If the time for the performance of any obligation or taking any
action under this Agreement or such other Loan Document expires on a day other
than a Business Day, the time for performance or taking such action shall be
extended to the next succeeding Business Day.&nbsp; &quot;Business Day&quot; means a day when
banks are generally open for business other than Saturday, Sunday or a legal
holiday.</p>

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<p class=ArticleL2 style='margin-left:0in;line-height:150%'>6.6&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<u>Choice of Law</u>.&nbsp; This Agreement and each of the other Loan
Documents shall be governed by and construed in accordance with Colorado law, without regard to its principles of conflicts of law.</p>

<p class=ArticleL2 style='margin-left:0in;line-height:150%'>6.7&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<u>Further Assurances; Corrections and Insertions</u>.&nbsp; Each party
agrees in good faith to execute such further or additional documents as may be
necessary or appropriate to fully carry out the intent and purpose of this
Agreement and each of the other Loan Documents.&nbsp; </p>

<p class=ArticleL2 style='margin-left:0in;line-height:150%'>6.8&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<u>Attorneys' Fees</u>.&nbsp; In the event of any judicial or other
adversarial proceeding between the parties concerning this Agreement or the
other Loan Documents, the prevailing party shall be entitled to recover its reasonable
attorneys' fees and other costs in addition to any other relief to which it may
be entitled.</p>

<p class=ArticleL2 style='margin-left:0in;line-height:150%'>6.9&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<u>Forum Selection; Jurisdiction; Venue</u>.&nbsp; Borrower consents and
agrees that the state or federal courts located in the City and County of
Denver, Colorado, shall have exclusive jurisdiction to hear and determine any
claims or disputes pertaining to this Agreement or any of the other Loan
Documents, any transaction relating thereto, and any investigation, litigation,
or proceeding in connection with, related to or arising out of any such
matters, provided, that Borrower acknowledges that any appeals from those
courts may have to be heard by a court located outside of such jurisdiction;
and provided further that nothing in this Agreement shall limit or restrict the
right of Lender to commence any proceeding in the federal or state courts
located in another state to the extent Lender deems such proceeding necessary
or advisable to exercise remedies available under the other Loan Documents.</p>

<p class=ArticleL2 style='margin-left:0in;line-height:150%'>6.10&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<u>Waiver of Jury Trial</u>.&nbsp; THE PARTIES, TO THE EXTENT PERMITTED BY
LAW, WAIVE ALL RIGHT TO TRIAL BY JURY IN ANY ACTION, SUIT, OR PROCEEDING
ARISING OUT OF, IN CONNECTION WITH OR RELATING TO, THIS AGREEMENT, THE FINANCING
CONTEMPLATED HEREBY AND ANY OTHER TRANSACTION CONTEMPLATED HEREBY.&nbsp; THIS WAIVER
APPLIES TO ANY ACTION, SUIT OR PROCEEDING WHETHER SOUNDING IN TORT, CONTRACT OR
OTHERWISE.</p>

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<p class=ArticleL2 style='margin-left:0in;line-height:150%'>6.11&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<u>Binding Effect</u>.&nbsp; This Agreement, the Note, and the other Loan
Documents are binding on and inure to the benefit of Borrower and Lender and
their respective successors and permitted assigns, including, any United States trustee, any debtor in possession or any trustee appointed from a private
panel.</p>

<p class=ArticleL2 style='margin-left:0in;line-height:150%'>6.12&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<u>Entire Agreement</u>.&nbsp; This Agreement and the other Loan Documents constitute
the entire agreement between the parties with respect to the subject matter
hereof, and there are no other representations, warranties or agreements,
written or oral, between Borrower and Lender with respect to the subject matter
of this Agreement and the other Loan Documents.</p>

<p class=MsoBodyText style='line-height:150%;page-break-after:avoid'><b>EXECUTED</b>
effective as of the date first set forth above.</p>

<p class=MsoBodyText style='margin-left:2.5in;text-indent:0in;line-height:150%;
page-break-after:avoid'><b>BORROWER</b>:</p>

<p class=MsoNormal style='margin-left:2.5in;line-height:150%;page-break-after:
avoid'>GOOD TIMES DRIVE THRU, INC., a Colorado corporation</p>





<p class=MsoNormal style='margin-left:2.5in;line-height:150%;page-break-after:
avoid'>By <i><u>/s/ Boyd E. Hoback</u></i></p>

<p class=MsoNormal style='margin-left:2.5in;line-height:150%;page-break-after:
avoid'>Printed Name: Boyd E. Hoback</p>

<p class=MsoNormal style='margin-left:2.5in;line-height:150%;page-break-after:
avoid'>Its: President and CEO</p>



<p class=MsoNormal style='margin-left:2.5in;line-height:150%;page-break-after:
avoid'>Principal Place of Business and Address for Notices:</p>

<p class=MsoNormal style='margin-left:2.5in;line-height:150%;page-break-after:
avoid'>601 Corporate Circle</p>

<p class=MsoNormal style='margin-left:2.5in;line-height:150%'>Golden, Colorado 80401</p>



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<p class=MsoNormal style='margin-left:2.5in;line-height:150%;page-break-after:
avoid'><b>LENDER</b><b>:</b></p>

<p class=MsoNormal style='margin-left:2.5in;line-height:150%;page-break-after:
avoid'><b>&nbsp;</b></p>

<p class=MsoNormal style='margin-left:2.5in;line-height:150%;page-break-after:
avoid'>GOLDEN BRIDGE LLC, a Colorado Limited Liability Company</p>





<p class=MsoNormal style='margin-left:2.5in;line-height:150%;page-break-after:
avoid'>By <i><u>/s/ Eric W. Reinhard</u></i><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;&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></p>

<p class=MsoNormal style='margin-left:2.5in;line-height:150%;page-break-after:
avoid'>Printed Name: &nbsp;Eric Reinhard</p>

<p class=MsoNormal style='margin-left:2.5in;line-height:150%;page-break-after:
avoid'>Its: Manager</p>



<p class=MsoNormal style='margin-left:2.5in;line-height:150%;page-break-after:
avoid'>Address for Notices:</p>

<p class=MsoNormal style='margin-left:2.5in;line-height:150%;page-break-after:
avoid'>6975 S. Polo Ridge Drive, Littleton, Colorado 80128</p>

<p class=MsoNormal style='margin-left:2.5in;line-height:150%;page-break-after:
avoid'>Attn: Eric Reinhard</p>





<p class=MsoBodyText style='margin-left:2.5in;text-indent:0in;line-height:150%'><b>CO-MAKER:</b></p>

<p class=MsoBodyText style='margin-top:0in;margin-right:0in;margin-bottom:0in;
margin-left:2.5in;margin-bottom:.0001pt;text-indent:0in;line-height:150%'>GOOD
TIMES RESTAURANTS INC., a Nevada corporation</p>





<p class=MsoNormal style='margin-left:2.5in;line-height:150%;page-break-after:
avoid'>By <i><u>/s/ Boyd E. Hoback</u></i><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;&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;&nbsp; </u></p>

<p class=MsoNormal style='margin-left:2.5in;line-height:150%;page-break-after:
avoid'>Printed Name: Boyd E. Hoback</p>

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</DOCUMENT>
<DOCUMENT>
<TYPE>EX-3
<SEQUENCE>4
<FILENAME>goldenbridgepromissory1.htm
<TEXT>
<html>

<head>
<!-- Document Prepared With E-Services, LLC HTML Software-->
<!-- Copyright 2006 E-Services, LLC.-->
<!-- All rights reserved EDGAR2.com -->



<title>PROMISSORY NOTE</title>



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<p class=MsoNormal align=center style='margin-bottom:12.0pt;text-align:center;
line-height:150%'><b><u>&nbsp;</u></b></p>

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line-height:150%'><b><u>&nbsp;</u></b></p>









<p class=MsoNormal align=center style='margin-bottom:12.0pt;text-align:center;
line-height:150%'><b><u>PROMISSORY NOTE</u></b></p>

<p class=MsoNormal style='text-align:justify;line-height:150%'>$185,000.00&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;&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;&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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Denver, Colorado</p>

<p class=MsoNormal style='text-align:justify;line-height:150%'>&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;&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;&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;&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; April
20, 2009</p>



<p class=TabbedL1 style='margin-left:0in;line-height:150%'>1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
FOR VALUE RECEIVED, the undersigned GOOD TIMES DRIVE THRU, INC., a
Colorado corporation (&quot;<b>GT Drive Thru</b>&quot;) and GOOD TIMES RESTAURANTS INC.,
a Nevada corporation (collectively, &quot;<b>Maker</b>&quot;), hereby jointly, severally
and unconditionally promise to pay to the order of Golden Bridge LLC, a
Colorado limited liability company, or order (&quot;<b>Holder</b>&quot;), the principal
sum of One Hundred and Eighty Five Thousand Dollars ($185,000.00) together with
interest accruing at the rate of 10% per annum on the unpaid principal balance
as set forth below.&nbsp; Such principal and interest shall be payable pursuant to
paragraph 2 below at 6975 S. Polo
Ridge Drive, Littleton, Colorado 80128, or at such other place as Holder
shall designate in writing. &nbsp;&nbsp;&nbsp;This Promissory Note evidences a loan (the &quot;<b>Loan</b>&quot;)
from Holder to Maker and is subject to the terms and conditions of that certain
Loan Agreement between Maker and Holder dated April 20, 2009, the &quot;<b>Loan
Agreement</b>&quot;).&nbsp; Each capitalized term used but not defined herein shall have
the same meaning given to such term in the Loan Agreement. </p>

<p class=TabbedL1 style='margin-left:0in;line-height:150%'>2.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<u>Payment and Maturity</u>.&nbsp; Monthly payments of accrued interest only shall
be paid by Maker commencing on May 1, 2009 and continuing thereafter on the
first day of each succeeding calendar month in equal payments, as adjusted with
adjustments to the Prime Rate. This Promissory Note shall mature on July 10, 2010
(&quot;<b>Maturity Date</b>&quot;), at which time all unpaid principal and accrued
interest thereon shall be due and payable in full.</p>

<p class=TabbedL1 style='margin-left:0in;line-height:150%'>3.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<u>Prepayment</u>.&nbsp; Maker may prepay this Promissory Note at any time
without penalty or prior consent of Holder.</p>

<p class=TabbedL1 style='margin-left:0in;line-height:150%'>4.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<u>Security</u>.&nbsp; This Promissory Note and the indebtedness evidenced
hereby are subject to the terms of an Intercreditor Agreement of even date
herewith between Maker, Holder and PFG1 II, LLC, a Colorado limited liability
company, and the deeds of trust and security agreements described in such
Intercreditor Agreement.</p>

<p class=MsoFooter style='line-height:10.0pt'>8787469.2 </p>

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<p class=TabbedL1 style='margin-left:0in;line-height:150%'>5.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<u>Application of Payments</u>.&nbsp; Subject to the provisions of section 8
below, all sums paid hereunder shall be applied first to the payment of accrued
and unpaid interest; and the remainder, if any, to the reduction of unpaid
principal.&nbsp; All interest hereunder shall be calculated on the basis of a 365
day year.</p>

<p class=TabbedL1 style='margin-left:0in;line-height:150%'>6.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<u>Acceleration and Default Interest</u>.&nbsp; If Maker shall default in the
payment of any installment of interest under this Promissory Note, or if there
shall be an Event of Default under any of the other Loan Documents, and if such
default is not cured within the applicable cure period stated in any such Loan
Document, the entire unpaid balance of this Promissory Note, including all
principal and accrued interest, irrespective of the maturity date specified
herein, shall, at the election of Holder, become immediately due and payable and
each and every such delinquent payment, including the entire principal balance
and accrued interest in the event of acceleration, shall bear interest
thereafter at the rate of 18 percent &nbsp;per annum (&quot;<b>Default Rate</b>&quot;) until
paid in full.&nbsp; The rights or remedies of Holder as provided in this Promissory
Note and the other Loan Documents shall be cumulative and concurrent and may be
pursued singularly, successively or together against Maker.&nbsp; Failure to
exercise any such right to remedy shall in no event be construed as a waiver or
release of such rights or remedies or the right to exercise them at a later
time.&nbsp; </p>

<p class=TabbedL1 style='margin-left:0in;line-height:150%'>7.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<u>Attorneys' Fees</u>.&nbsp; Maker agrees to promptly reimburse Holder for
all reasonable costs and expenses, including attorneys' fees and court costs,
incurred to collect this Promissory Note or any installment hereunder, if not
paid when due.</p>

<p class=TabbedL1 style='margin-left:0in;line-height:150%'>8.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<u>No Waiver</u>.&nbsp; No failure on the part of Holder to exercise, and no
delay in exercising any right hereunder, shall operate as a waiver of such
right; nor shall any single or partial exercise by Holder of any right
hereunder preclude the exercise of any other right.&nbsp; The remedies herein
provided are cumulative and not exclusive of any remedies provided by law.</p>

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<p class=MsoFooter style='line-height:10.0pt'>8787469.2 </p>

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<p class=TabbedL1 style='margin-left:0in;line-height:150%'>9.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<u>Waiver</u>.&nbsp; Maker hereby waives presentment, demand for payment,
protest for nonpayment, notice of dishonor, diligence in collection, and all
other indulgences, and expressly agree that this Promissory Note may be
extended or renewed from time to time and any real or collateral security or
any part thereof may be released by Holder without in any manner affecting,
altering, releasing, or limiting Maker's liability hereon.</p>

<p class=TabbedL1 style='margin-left:0in;line-height:150%'>10.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<u>Colorado Law</u>.&nbsp; This Promissory Note is made in and shall be
governed by and interpreted in accordance with the laws of the State of Colorado.</p>

<p class=TabbedL1 style='margin-left:0in;line-height:150%'>11.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<u>General Provisions</u>.&nbsp; This Promissory Note may not be amended,
modified or changed, nor shall any waiver of any provision hereof be effective,
unless set forth by an instrument in writing and signed by the party against
whom enforcement of any waiver, amendment, change, modification or discharge is
sought.</p>

<p class=TabbedCont1 style='text-align:justify;line-height:150%'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Whenever
used herein, the words &quot;Maker&quot;, and &quot;Holder&quot; shall be deemed to include their
respective successors and assigns.</p>

<p class=TabbedCont1 style='text-align:justify;line-height:150%;page-break-after:
avoid'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; IN WITNESS WHEREOF, the undersigned has duly executed this
Promissory Note the day and year first above written.</p>

<p class=TabbedCont1 style='line-height:150%;page-break-after:avoid'>&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;&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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; MAKER:</p>

<p class=TabbedCont1 style='margin-top:0in;margin-right:0in;margin-bottom:0in;
margin-left:3.5in;margin-bottom:.0001pt;line-height:150%;page-break-after:avoid'>GOOD
TIMES DRIVE THRU INC., a Colorado corporation</p>





<p class=TabbedCont1 style='margin-bottom:0in;margin-bottom:.0001pt;line-height:
150%;page-break-after:avoid'>&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;&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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; By:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <i><u>/s/
Boyd E. Hoback</u></i></p>

<p class=TabbedCont1 style='margin-bottom:0in;margin-bottom:.0001pt;line-height:
150%;page-break-after:avoid'>&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;&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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Name:&nbsp; Boyd
E. Hoback, President and CEO</p>





<p class=TabbedCont1 style='line-height:150%;page-break-after:avoid'>&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;&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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; CO-MAKER:</p>

<p class=TabbedCont1 style='margin-top:0in;margin-right:0in;margin-bottom:0in;
margin-left:3.5in;margin-bottom:.0001pt;line-height:150%;page-break-after:avoid'>GOOD
TIMES RESTAURANTS INC., a Nevada corporation</p>





<p class=TabbedCont1 style='margin-bottom:0in;margin-bottom:.0001pt;line-height:
150%;page-break-after:avoid'>&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;&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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; By:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <i><u>/s/
Boyd E. Hoback</u></i></p>

<p class=TabbedCont1 style='margin-bottom:0in;margin-bottom:.0001pt;line-height:
150%;page-break-after:avoid'>&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;&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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Name:&nbsp; Boyd
E. Hoback, President and CEO</p>

<div>

<table cellspacing=0 cellpadding=0 hspace=0 vspace=0 align=center>
 <tr>
  <td valign=top align=left style='padding-top:0in;padding-right:0in;
  padding-bottom:0in;padding-left:0in'>
  <p class=MsoFooter>3</p>
  </td>
 </tr>
</table>

</div>

<br clear=ALL>

<p class=MsoFooter style='line-height:10.0pt'>8787469.2 </p>

<div class=MsoNormal align=center style='text-align:center'>

<hr size=2 width="100%" noshade style='color:navy' align=center>

</div>







</body>

</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-4
<SEQUENCE>5
<FILENAME>firstamendtopromnote1.htm
<TEXT>
<html>

<head>
<!-- Document Prepared With E-Services, LLC HTML Software-->
<!-- Copyright 2006 E-Services, LLC.-->
<!-- All rights reserved EDGAR2.com -->



<title>FIRST AMENDMENT TO AMENDED AND RESTATED PROMISSORY NOTE</title>



</head>

<body lang=EN-US vlink=purple>



<p class=MsoNormal align=center style='text-align:center'><b><u>&nbsp;</u></b></p>

<p class=MsoNormal align=center style='text-align:center'><b><u>&nbsp;</u></b></p>









<p class=MsoNormal align=center style='text-align:center'><b><u>FIRST AMENDMENT
TO AMENDED AND RESTATED PROMISSORY NOTE</u></b></p>



<p class=MsoNormal style='text-align:justify'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; This First Amendment
to Amended and Restated Promissory Note (this &quot;Amendment&quot;) is dated effective
as of April 20, 2009 and it amends that certain Amended and Restated Promissory
Note dated July 1, 2008 (the &quot;Note&quot;) made by Good
Times Drive ThRu, Inc., a Colorado corporation (&quot;<b>GT Drive Thru</b>&quot;)
and GOOD TIMES RESTAURANTS INC., a Nevada corporation (collectively, &quot;<b>Maker</b>&quot;)
in the principal amount of Two Million Five Hundred Thousand Dollars
($2,500,000) for the benefit of PFGI II, LLC, a Colorado limited liability
company (&quot;<b>Holder</b>&quot;).&nbsp; All capitalized terms used herein and not otherwise
defined shall have the meaning ascribed thereto in the Note.</p>



<p class=TabbedL1 style='margin-left:0in'>1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The Maturity Date is hereby amended to July 10, 2010.</p>

<p class=TabbedL1 style='margin-left:0in'>2.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Paragraph 5 of the Note is hereby amended and restated as follows:</p>

<p class=TabbedCont1>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5 - Security.&nbsp; This Promissory
Note and the indebtedness created and evidenced hereby, including principal and
interest, are secured by (i) four separate Leasehold Deeds of Trust, Security
Agreement, Assignment of Rents and Fixture Filings dated July 7, 2006 and
recorded under Reception Nos. 2006110700 and 2006110701 in Jefferson County,
Colorado on September 11, 2006, Reception No. 20060905000894220 in Adams
County, Colorado on September 5, 2006 and Reception No. 20060067137 in Larimer
County, Colorado on September 1, 2006 (collectively, the &quot;<b>Existing Deeds of
Trust</b>&quot;) made by GT Drive Thru for the benefit of Holder, encumbering all of
GT Drive Thru's leasehold interest in and to the real property described
therein (&quot;<b>Real Property</b>&quot;) and located in the Counties of Jefferson,
Adams and Larimer, State of Colorado and other collateral, as more particularly
described therein; (ii) two separate Security Agreements and Collateral
Assignments of Lease dated June 21, 2006 (collectively, the &quot;<b>Security
Agreements</b>&quot;), from GT Drive Thru to Holder, encumbering the tangible and
intangible assets, personal property, furniture, fixtures, goods, equipment and
other personal property located at the Real Property (collectively, the &quot;<b>Property</b>&quot;);
and (iii) two separate Deeds of Trust, each dated August 15, 2008 and recorded
under Reception Nos. 88094383 in Arapahoe County, Colorado and 3573449 in Weld
County, Colorado on August 20, 2008 (the &quot;<b>Additional Deeds of Trust</b>&quot;).&nbsp; This
Promissory Note, the Existing Deeds of Trust, the Additional Deeds of Trust,
the Loan Agreement and the Security Agreements are hereinafter collectively
referred to as the &quot;<b>Loan Documents</b>&quot;.</p>

<p class=TabbedL1 style='margin-left:0in'>3.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
This Amendment constitutes the entire Agreement between Maker and Holder
concerning the subject matter hereof.&nbsp; This Amendment may not be amended or
modified orally, but only by written agreement executed by Maker and designated
as an amendment or modification of the Note.&nbsp; Except as specifically amended
hereby, the Note remains in full force and effect.</p>



<p class=MsoFooter style='line-height:10.0pt'>9549997.1 </p>

<div class=MsoNormal align=center style='text-align:center'>

<hr size=2 width="100%" noshade style='color:navy' align=center>

</div>



<br
clear=all style='page-break-before:always'>










<p class=TabbedCont1 style='page-break-after:avoid'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; IN WITNESS
WHEREOF, the undersigned has duly executed this Amendment effective as of the
day and year first above written.</p>

<p class=TabbedCont1 style='page-break-after:avoid'>&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;&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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; MAKER:</p>

<p class=TabbedCont1 style='margin-top:0in;margin-right:0in;margin-bottom:0in;
margin-left:3.5in;margin-bottom:.0001pt;page-break-after:avoid'>GOOD TIMES
DRIVE THRU INC., a Colorado corporation</p>





<p class=TabbedCont1 style='margin-bottom:0in;margin-bottom:.0001pt;page-break-after:
avoid'>&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;&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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; By:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <i><u>/s/
Boyd E. Hoback</u></i></p>

<p class=TabbedCont1 style='margin-bottom:0in;margin-bottom:.0001pt;page-break-after:
avoid'>&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;&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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Name:&nbsp; Boyd
E. Hoback, President and CEO</p>





<p class=TabbedCont1 style='margin-top:0in;margin-right:0in;margin-bottom:0in;
margin-left:3.5in;margin-bottom:.0001pt;page-break-after:avoid'>GOOD TIMES
RESTAURANTS INC., a Nevada corporation</p>





<p class=TabbedCont1 style='margin-bottom:0in;margin-bottom:.0001pt;page-break-after:
avoid'>&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;&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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; By:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <i><u>/s/
Boyd E. Hoback</u></i></p>

<p class=TabbedCont1 style='margin-bottom:0in;margin-bottom:.0001pt;page-break-after:
avoid'>&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;&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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Name:&nbsp; Boyd
E. Hoback, President and CEO</p>



<p class=MsoFooter style='line-height:10.0pt'>9549997.1 </p>

<div class=MsoNormal align=center style='text-align:center'>

<hr size=2 width="100%" noshade style='color:navy' align=center>

</div>







</body>

</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-5
<SEQUENCE>6
<FILENAME>revisedintercredit1.htm
<TEXT>
<html>

<head>
<!-- Document Prepared With E-Services, LLC HTML Software-->
<!-- Copyright 2006 E-Services, LLC.-->
<!-- All rights reserved EDGAR2.com -->



<title>[FOR USE WITH CO-LENDERS UNDER A SINGLE LOAN AGREEMENT BUT WITH SEPARATE
PROMISSORY NOTES]</title>



</head>

<body lang=EN-US>















<p class=SW-TitleBC style='margin-bottom:.25in;page-break-after:auto'>Intercreditor
Agreement</p>

<p class=SW-BdSingleSp5J style='line-height:150%'>This Intercreditor Agreement
is made and entered into this 20 day of April, 2009 by and among PFGI II, LLC,
a Colorado limited liability company (&quot;PFGI&quot;); GOLDEN BRIDGE, LLC, a Colorado
limited liability company (&quot;Golden Bridge&quot;); and Good Times Drive Thru, Inc., a
Colorado corporation, and Good Times Restaurants Inc., a Nevada corporation
(together, &quot;GTIM&quot;).</p>

<p class=SW-TitleUC style='line-height:150%;page-break-after:auto'>Recitals</p>

<p class=MsoNormal style='margin-bottom:12.0pt;text-align:justify;text-indent:
..5in;line-height:150%'>1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; PFGI has made a loan to GTIM in the principal
amount of $2,500,000 (the &quot;PFGI Loan&quot;) and Golden Bridge has made a loan to
GTIM in the principal amount of $185,000 (the &quot;Golden Bridge Loan&quot; and together
with the PFGI the &quot;Loans&quot;).&nbsp; PFGI and Golden Bridge are each referred to as a
&quot;Lender&quot; and together the &quot;Lenders.&quot;</p>

<p class=MsoNormal style='margin-bottom:12.0pt;text-align:justify;text-indent:
..5in;line-height:150%'>2.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The PFGI Loan and the Golden Bridge Loan are
each pursuant to and evidenced by a Loan Agreement and a Promissory Note (&quot;Loan
Agreements&quot; and &quot;Promissory Notes&quot; and together the &quot;Loan Documents&quot;).</p>

<p class=MsoNormal style='margin-bottom:12.0pt;text-align:justify;text-indent:
..5in;line-height:150%'>3.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; GTIM's obligations under the PFGI Loan are secured
by<i> </i>(a) first priority deeds of trust encumbering the GTIM properties described
on Exhibit A hereto, and (b) first priority security interests in the GTIM
properties described on Exhibit B hereto (together, the &quot;Collateral&quot;).</p>

<p class=SW-TitleUC style='line-height:150%;page-break-after:auto'>Agreement</p>

<p class=SW-BdSingleSp5J style='line-height:150%'>For good and valuable
consideration, the receipt and sufficiency of which are hereby acknowledged, PFGI,
  Golden Bridge and GTIM agree as follows:</p>

<p class=Legal2L1 style='margin-left:0in;line-height:150%'>1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<u>Definitions</u>.</p>

<p class=SW-BdSingleSp5J style='line-height:150%'>Except as otherwise provided
herein, terms defined in the Loan Agreements shall have the same meanings when
used herein.&nbsp; Terms defined in the singular shall have the same meaning when
used in the plural and vice versa.&nbsp; As used herein, the term:</p>

<p class=MsoFooter style='line-height:10.0pt'>3128379.4 </p>

<div class=MsoNormal align=center style='text-align:center'>

<hr size=2 width="100%" noshade style='color:navy' align=center>

</div>



<br
clear=all style='page-break-before:always'>










<p class=SW-BdSingleSp5J style='line-height:150%'>&quot;Lenders Pro Rata Shares&quot;
means the following allocations:&nbsp; PFGI 93.1%; and Golden Bridge 6.9%, except as
set forth in Section 2 below.</p>

<p class=SW-BdSingleSp5J style='line-height:150%'>&quot;Majority of Lenders&quot; means
Lenders owning and holding more than fifty percent of the aggregate Lenders Pro
Rata Shares.</p>

<p class=SW-BdSingleSp5J style='line-height:150%'>&quot;Net Loan Payment&quot; means the
amount of each payment or other recovery on the Loans received by PFGI or Golden Bridge, less any and all costs and expenses of recovery including reasonable attorneys'
fees and collection costs.</p>

<p class=Legal2L2 style='text-indent:.5in;line-height:150%'>2.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <u>Loan Payments</u>.</p>

<p class=SW-BdSingleSp5J style='line-height:150%'>Upon PFGI's
or Golden Bridge's receipt of any payments of principal, interest or other
amounts due with respect to the Loans, such Lender shall distribute to the
other Lender such other Lender's Pro Rata Share of the Net Loan Payment so that
each Lender receives its Lender's Pro Rata Share of each Net Loan Payment. &nbsp;All
funds disbursed by a Lender to the other Lender shall be in immediately
available funds sent by wire transfer.&nbsp; Notwithstanding anything to the
contrary contained in this Section 2 or elsewhere in this Intercreditor
Agreement, GTIM may at any time prepay in whole or in part the Golden Bridge
Loan, with the prior written consent of PFGI which consent shall not be unreasonably
withheld, after which the Lenders Pro Rata Shares shall be based upon the
proportionate outstanding amounts of principal and interest of the PFGI Loan
and the Golden Bridge Loan.</p>

<p class=Legal2L1 style='margin-left:0in;line-height:150%'>3.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<u>Covenants</u>.</p>

<p class=SW-BdSingleSp5J style='line-height:150%'>The Lenders make the
following agreements and covenants, which shall continue so long as this
Intercreditor Agreement is in effect and so long as the Loans are outstanding
and unpaid:</p>

<p class=Legal2L2 style='margin-left:0in;line-height:150%'>3.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<u>Amendment of Loan Documents</u>.</p>

<div>

<table cellspacing=0 cellpadding=0 hspace=0 vspace=0 align=center>
 <tr>
  <td valign=top align=left style='padding-top:0in;padding-right:0in;
  padding-bottom:0in;padding-left:0in'>
  <p class=MsoFooter>2</p>
  </td>
 </tr>
</table>

</div>

<br clear=ALL>

<p class=MsoFooter style='line-height:10.0pt'>&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;&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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </p>

<p class=MsoFooter style='line-height:10.0pt'>3128379.4 </p>

<div class=MsoNormal align=center style='text-align:center'>

<hr size=2 width="100%" noshade style='color:navy' align=center>

</div>



<br
clear=all style='page-break-before:always'>










<p class=SW-BdSingleSp5J style='line-height:150%'>The Lenders each agree that
they will not renew, extend, amend or modify the Loan&nbsp; Documents without the
prior written consent of the Majority of Lenders.&nbsp; Notwithstanding the
foregoing, the consent of both Lenders shall be required with respect to
amendments to any of the Loan Documents that would act to: (a) extend or
increase the amount of the Loans, (b)&nbsp;postpone any date fixed by either of
the Loan Agreements or any other Loan Documents for any payment or mandatory
prepayment of principal, interest, fees or other amounts due to either of the
Lenders, (c) change the definition of Lenders Pro Rata Shares, (d) release the
liability of GTIM, (e) permit the sale, transfer, pledge, mortgage or
assignment of any Collateral except as expressly permitted under the Loan
Documents, or (f) transfer or release any lien on or transfer or sell any Collateral,
except as expressly permitted under the Loan Documents.</p>

<p class=Legal2L2 style='margin-left:0in;line-height:150%'>3.2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<u>Subordination of Future Indebtedness</u>.</p>

<p class=SW-BdSingleSp5J style='line-height:150%'>Any indebtedness of GTIM to
any of the Lenders, other than the Loans, which may be secured by any or all of
the Collateral, shall be subordinate in payment and lien priority to the Loans
to the extent of the proceeds of the Collateral.</p>

<p class=Legal2L1 style='margin-left:0in;line-height:150%'>4.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<u>Default by GTIM</u>.</p>

<p class=Legal2L2 style='margin-left:0in;line-height:150%'><a name="a5_11"></a><a
name="a5_01"></a>4.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<u>Notice of Event of Default</u>.</p>

<p class=Legal2L3 style='margin-left:0in;text-indent:1.0in;line-height:150%'><a
name="_Ref118609696">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Within ten days of delivery of such notice of default to GTIM from one Lender,
the Lenders shall consult with each other to determine a proposed course of
action.&nbsp; The Lenders shall take such action with respect to such default as
shall be directed by a Majority of Lenders as they shall deem advisable in the
interest of the Lenders, except to the extent that this Agreement expressly
requires that such action be taken, or not be taken, only with the consent or
upon the authorization of both of the Lenders.</a></p>

<p class=Legal2L3 style='margin-left:0in;text-indent:1.0in;line-height:150%'>(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
All money received from any enforcement actions, including the proceeds
of a foreclosure sale of the Collateral, shall be applied:&nbsp; First, to the Lenders
for expenses incurred in connection with such default; and Second, pari passu
to the Lenders in accordance with their respective Lenders Pro Rata Shares.</p>

<p class=Legal2L3 style='margin-left:0in;text-indent:1.0in;line-height:150%'><a
name="_Ref118609747">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
All losses with respect to sums payable pursuant to the Loan Documents
or incurred in connection with the Loans and the Collateral shall be borne by
the Lenders in accordance with the Lenders Pro Rata Shares.</a></p>

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  </td>
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<p class=MsoFooter style='line-height:10.0pt'>&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;&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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </p>

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<p class=Legal2L3 style='margin-left:0in;text-indent:1.0in;line-height:150%'>(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
If any action is brought to collect on the Promissory Notes, or
foreclose or enforce any of the other Loan Documents, such action shall (to the
extent permitted under applicable law and the decisions of the court in which
such action is brought) be an action brought by the Lenders, collectively, to
collect on all or a portion of the Notes or otherwise enforce the Loan
Documents, and counsel selected by the Majority of Lenders shall prosecute any
such action on behalf of the Lenders, and the Lenders shall consult and
cooperate with each other in the prosecution thereof.&nbsp; The costs and expenses
of foreclosure, to the extent not paid by GTIM within ten days after demand
therefor, will be borne by the Lenders in accordance with the Lenders Pro Rata Shares.</p>

<p class=Legal2L3 style='margin-left:0in;text-indent:1.0in;line-height:150%'><a
name="_Ref118609755">(e)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
If title is acquired to any of the Collateral after a foreclosure sale,
nonjudicial foreclosure or by a deed in lieu of foreclosure, title shall be
held by PFGI on behalf of and for the ratable benefit of the Lenders.</a></p>

<p class=Legal2L3 style='margin-left:0in;text-indent:1.0in;line-height:150%'>(f)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
If PFGI acquires title to any of the Collateral during or after the
foreclosure, all material decisions with respect to the possession, ownership,
development, control, operation, leasing, management and sale of the Collateral
shall be made by the Majority of Lenders.&nbsp; All income or other money received
after so acquiring title to or taking possession of the Collateral, including
income from the operation and management of the Collateral and the proceeds of
a sale of the Collateral, shall be applied:&nbsp; First, to the payment or
reimbursement of expenses incurred with respect to the Collateral not paid by GTIM;
and Second, pari passu to the Lenders in accordance with the Lenders Pro Rata
Shares.</p>

<p class=Legal2L1 style='margin-left:0in;line-height:150%'>5.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<u>General Provisions</u>.</p>

<p class=Legal2L2 style='margin-left:0in;line-height:150%'>5.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<u>Independent Business</u>.</p>

<p class=SW-BdSingleSp5J style='line-height:150%'>Nothing in this Intercreditor
Agreement shall in any way prohibit, restrict or limit the right of any Lender
to generally engage in any kind of business with Borrower independent of this
Intercreditor Agreement, including, without limitation, making loans to, issuing
letters of credit for the account of, accepting deposits from, and acting as
trustee in transactions with Borrower, as though such Lender was not a party to
this Intercreditor Agreement and without any duty to account therefor to
Lenders.</p>

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<p class=MsoFooter style='line-height:10.0pt'>&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;&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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </p>

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<p class=Legal2L2 style='margin-left:0in;line-height:150%'>5.2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<u>Payment of Attorneys Fees</u>.</p>

<p class=SW-BdSingleSp5J style='line-height:150%'>Upon the occurrence of breach
or default under this Intercreditor Agreement, the breaching or defaulting
party agrees to pay to the non-breaching and non-defaulting parties all
reasonable attorneys fees and legal expenses incurred as a result of such
breach or default.</p>

<p class=Legal2L2 style='margin-left:0in;line-height:150%'>5.3&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<u>Third Party Beneficiaries</u>.</p>

<p class=SW-BdSingleSp5J style='line-height:150%'>The Intercreditor Agreement
is made for the sole and exclusive benefit of Lenders and Agent and is not
intended to benefit any other third party. &nbsp;No third party, including Borrower,
may claim any right or benefit or seek to enforce any term or provision of this
Intercreditor Agreement.</p>

<p class=Legal2L2 style='margin-left:0in;line-height:150%'>5.4&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<u>GTIM Acknowledgment</u>.&nbsp; By its execution hereof, GTIM acknowledges
the rights and obligations of the Lenders under this Intercreditor Agreement
and covenants not to take any actions which conflict with such rights and
obligations.</p>

<p class=Legal2L2 style='margin-left:0in;line-height:150%'>5.5&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<u>No Partnership or Joint Venture</u>.</p>

<p class=SW-BdSingleSp5J style='line-height:150%'>This Intercreditor Agreement
is not intended to create and shall not be interpreted to create any partnership
or joint venture between Lenders or with Agent.</p>

<p class=Legal2L2 style='margin-left:0in;line-height:150%'>5.6&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<u>Governing Law</u>.</p>

<p class=SW-BdSingleSp5J style='line-height:150%'>This Intercreditor Agreement
shall be governed by and construed in accordance with the laws of the State of Colorado.</p>

<p class=Legal2L2 style='margin-left:0in;line-height:150%'>5.7&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<u>Severability of Invalid Provisions</u>.</p>

<p class=SW-BdSingleSp5J style='line-height:150%'>Any provision of this
Intercreditor Agreement which is prohibited or unenforceable in any
jurisdiction shall, as to such jurisdiction only, be ineffective only to the
extent of such prohibition or unenforceability without invalidating the
remaining provisions hereof, and any such prohibition or unenforceability in
any jurisdiction shall not invalidate or render unenforceable such provision in
any other jurisdiction.</p>

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  <p class=MsoFooter>5</p>
  </td>
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<p class=MsoFooter style='line-height:10.0pt'>&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;&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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </p>

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<p class=Legal2L2 style='margin-left:0in;line-height:150%'>5.8&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<u>Interpretation of Intercreditor Agreement</u>.</p>

<p class=SW-BdSingleSp5J style='line-height:150%'>The headings in this
Intercreditor Agreement are inserted for convenience only and shall not be
considered part of the Intercreditor Agreement nor be used in its
interpretation.&nbsp; All references in this Intercreditor Agreement to the singular
shall be deemed to include the plural when the context so requires, and vice
versa.&nbsp; References in the collective or conjunctive shall also include the
disjunctive unless the context otherwise clearly requires a different
interpretation.</p>

<p class=Legal2L2 style='margin-left:1.5in;text-indent:-.75in;line-height:150%'>5.9&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<u>Survival and Binding Effect of Representations, Warranties, and
Covenants</u>.</p>

<p class=SW-BdSingleSp5J style='line-height:150%'>All agreements,
representations, warranties, and covenants made herein shall survive the
execution and delivery of this Intercreditor Agreement and shall continue in
effect so long as any obligation contemplated by this Intercreditor Agreement
or by the Loan Documents is outstanding.&nbsp; All agreements, representations,
warranties, and covenants in this Intercreditor Agreement shall bind the party
making the same, and its successors and assigns, and all rights and remedies in
this Intercreditor Agreement shall inure to the benefit of and be enforceable
by each party for whom made, and their respective successors and assigns.</p>

<p class=SW-BdSingleSp5J style='line-height:150%'>All representations,
covenants, releases, statements of non-reliance, and disclaimers made herein
shall also be for the protection&nbsp; of, and inure to the benefit of, all
officers, directors, employees, representatives, agents, and attorneys&nbsp; of the
parties hereto.</p>

<p class=Legal2L2 style='margin-left:0in;line-height:150%'>5.10&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<u>Revival Clause</u>.</p>

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  <p class=MsoFooter>6</p>
  </td>
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<p class=MsoFooter style='line-height:10.0pt'>&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;&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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </p>

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<p class=SW-BdSingleSp5J style='line-height:150%'>If the incurring of any debt
by Borrower or Agent or the payment of any money or transfer of property to Lenders
by or on behalf of GTIM should for any reason subsequently be determined to be &quot;voidable&quot;
or &quot;avoidable&quot; in whole or in part within the meaning of any state or federal
law (collectively &quot;voidable transfers&quot;), including, without limitation,
fraudulent conveyances or preferential transfers under the United States
Bankruptcy Code or any other federal or state law, and any Lender is required
to repay or restore any voidable transfers or the amount or any portion
thereof, or upon the advice of Lender's counsel is advised to do so, then, any
such amount or property repaid or restored, including all reasonable costs,
expenses, and attorneys fees related thereto, shall be promptly reimbursed to
Lender by the other Lender based upon the portion of such amount which was paid
to each of the Lenders, and the liability of GTIM for such amount shall
automatically be revived, reinstated, and restored and shall exist as though
the voidable transfers had never been made.</p>

<p class=Legal2L2 style='margin-left:0in;line-height:150%'>5.11&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<u>Notices</u>.</p>

<p class=SW-BdSingleSp5J style='line-height:150%'>All notices or demands by any
party to this Intercreditor Agreement shall, except as otherwise provided
herein, be in writing and be sent as provided in the Loan Agreements.</p>

<p class=Legal2L2 style='margin-left:0in;line-height:150%'>5.12&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<u>Integrated Agreement and Subsequent Amendment</u>.</p>

<p class=SW-BdSingleSp5J style='line-height:150%'>This Intercreditor Agreement,
together with the Loan Documents, constitutes the entire agreement among the Lenders
and GTIM with respect to the maters set forth herein, and may not be altered or
amended except by written agreement signed by the Lenders.&nbsp; All other prior and
contemporaneous agreements, arrangements&nbsp; and understandings between the
parties hereto as to the subject matter hereof are, except as otherwise
expressly provided herein, rescinded.</p>

<p class=Legal2L2 style='margin-left:0in;line-height:150%'>5.13&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<u>Memorandum of Agreement</u>.</p>

<p class=SW-BdSingleSp5J style='line-height:150%'>The Lenders and GTIM agree to
execute for filing and recording with respect to the public records applicable
to the Collateral a memorandum setting forth in brief form the terms of this
Intercreditor Agreement.</p>

<p class=MsoNormal style='margin-bottom:.25in;text-align:justify;text-indent:
3.5in;page-break-after:avoid'>PFGI II, LLC</p>

<p class=MsoNormal style='text-align:justify;text-indent:3.5in;page-break-after:
avoid'>By: <i><u>/s/ Fred&nbsp; Gardner</u></i><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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </u></p>

<p class=MsoNormal style='margin-left:3.5in;text-align:justify;page-break-after:
avoid'>Name:<u> Fred Gardner&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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </u></p>

<p class=MsoNormal style='margin-top:0in;margin-right:0in;margin-bottom:24.0pt;
margin-left:3.5in;text-align:justify'>Title: <u>Manager&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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </u></p>

<p class=MsoNormal style='margin-bottom:.25in;text-align:justify;text-indent:
3.5in;page-break-after:avoid'>GOLDEN BRIDGE, LLC</p>

<p class=MsoNormal style='margin-left:3.5in;page-break-after:avoid'>By: <i><u>/s/
Eric W. Reinhard</u></i><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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </u></p>

<p class=MsoNormal style='margin-left:3.5in;page-break-after:avoid'>Name:<u>
Eric W. Reinhard&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;&nbsp; </u></p>

<p class=MsoNormal style='margin-top:0in;margin-right:0in;margin-bottom:24.0pt;
margin-left:3.5in;text-align:justify'>Title: <u>Manager&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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </u></p>

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<p class=MsoFooter style='line-height:10.0pt'>&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;&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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </p>

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<p class=MsoNormal style='margin-bottom:.25in;text-align:justify;page-break-after:
avoid'>GOOD TIMES DRIVE THRU, INC.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; GOOD TIMES RESTAURANT,
 INC.</p>

<p class=MsoNormal style='page-break-after:avoid'>By: :<i><u>/s/ Boyd E. Hoback</u></i><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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; By:<i><u>/s/
Boyd E. Hoback&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;&nbsp;&nbsp;&nbsp;&nbsp; </u></i></p>

<p class=MsoNormal style='page-break-after:avoid'>Name:<u> Boyd E. Hoback&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;&nbsp;&nbsp; </u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Name: <u>Boyd E. Hoback&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;&nbsp;&nbsp; </u></p>

<p class=MsoNormal style='margin-bottom:24.0pt;text-align:justify'>Title:<u>
President and CEO&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>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Title: <u>President
and CEO&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></p>



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<p class=MsoFooter style='line-height:10.0pt'>&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;&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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </p>

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<p class=MsoNormal align=center style='text-align:center'>EXHIBIT A</p>

<p class=MsoNormal align=center style='margin-bottom:12.0pt;text-align:center'>DEEDS
OF TRUST</p>

<p class=MsoNormal style='text-align:justify'><b><u>1535 Rocky Mountain Avenue,
Loveland, Colorado 80538:</u></b></p>

<p class=MsoNormal style='margin-bottom:6.0pt;text-align:justify'>LOT 1, BLOCK 1, AMENDED PLAT OF TRACT A AND LOT 2,
ROCKY MOUNTAIN VILLAGE 8<sup>TH</sup> SUBDIVISION, TO THE CITY OF LOVELAND,
COUNTY OF LARIMER, STATE OF COLORADO.</p>

<p class=MsoNormal style='margin-bottom:6.0pt;text-align:justify'>AND</p>

<p class=MsoNormal style='text-align:justify'>PARCEL
1:</p>

<p class=MsoNormal style='margin-bottom:6.0pt;text-align:justify'>LOT 1, BLOCK 1 ROCKY MOUNTAIN VILLAGE TWELTH
SUBDIVISION, TO THE CITY OF LOVELAND, COUNTY OF LARIMER, STATE OF COLORADO.</p>

<p class=MsoNormal style='text-align:justify'>PARCEL
II:</p>

<p class=MsoNormal style='margin-bottom:6.0pt;text-align:justify'>OUTLOT A, C AND E, ROCKY MOUNTAIN VILLAGE TWELTH
SUBDIVISION TO THE CITY OF LOVELAND, COUNTY OF LARIMER, STATE OF COLORADO.</p>

<p class=MsoNormal style='text-align:justify'>PARCEL
III:</p>

<p class=MsoNormal style='margin-bottom:6.0pt;text-align:justify'>EASEMENTS AND OTHER RIGHTS CONTAINED IN OPERATION AND
EASEMENT AGREEMENT FOR CENTERRA MARKETPLACE II DATED EFFECTIVE OCTOBER 14, 2004
AND RECORDED OCTOBER 14, 2004 AT RECEPTION NO. 20040101536, COUNTY OF LARIMER,
STATE OF COLORADO.</p>

<p class=MsoNormal style='margin-bottom:6.0pt;text-align:justify'>PARCEL IV: LOT 8, BLOCK 1, MCWHINNEY TENTH
SUBDIVISION, TO THE CITY OF LOVELAND, COUNTY OF LARIMER, STATE OF COLORADO.</p>

<p class=MsoNormal style='margin-bottom:6.0pt;text-align:justify'>PARCEL V: EASEMENTS AND OTHER RIGHTS CONTAINED IN THE
OPERATION AND EASEMENT AGREEMENT BY AND BETWEEN DAYTON HUDSON COPRORATION AND
MCWHINNEY HOLDING COMPANY, LLC, RECORDED MARCH 3, 1998 AT RECEPTION NO.
98015993, COUNTY OF LARIMER, STATE OF COLORADO.</p>

<p class=MsoNormal style='margin-bottom:12.0pt;text-align:justify'>PARCEL VI: LOTS 1, 2 AND 3 BLOCK 1, AND OUTLET A,
ROCKY MOUNTAIN VILLAGE THIRTEENTH SUBDIVISION TO THE CITY OF LOVELAND, COUNTY
OF LARIMER, STATE OF COLORADO.</p>

<p class=MsoNormal><b><u>16522 Washington Street, Broomfield, CO 80023:</u></b></p>

<p class=MsoNormal style='margin-bottom:12.0pt;text-align:justify'>LOTS 1, 2, 4 AND 5, LARKRIDGE SUBDIVISION FILING NO.
1, A SUBDIVISION LOCATED IN THE WEST ONE-HALF OF SECTIION 2 AND THE EAST
ONE-HALF OF SECTION 3, TOWNSHIP 1 SOUTH, RANGE 68 WEST OF THE SIXTH PRINCIPAL
MERIDIAN, CITY OF THORNTON, COUNTY OF ADAMS, STATE OF COLORADO, ACCORDING TO
THE OFFICIAL MAP THEREOF RECORDED OCTOBER 27, 2004 IN THE OFFICE OF THE CLERK
AND RECORDER OF ADAMS COUNTY, COLORADO UNDER INSTRUMENT NO. 20041027001078770.</p>

<p class=MsoNormal><b><u>9130 Wadsworth Parkway, Westminster, CO 80021:</u></b></p>

<p class=MsoSignature style='margin-top:0in;margin-right:0in;margin-bottom:
12.0pt;margin-left:0in'>LOT 4, WESTGLENN
SUBDIVISION FILING NO. 7, JEFFERSON COUNTY, COLORADO.</p>

<p class=MsoSignature style='margin-left:0in'><b><u>3230 Youngfield Service
Road, Wheat Ridge, CO 80033:</u></b></p>

<p class=CenterSingle style='text-align:justify'>Lot 2, Block 1, 70 WEST BUSINESS CENTER SUBDIVISION
FILING NO. 3, a re-subdivision of Lot 4, Lot 6, and a part of Lots 1 and 7, 70
West Business Center and Lot 1 and Lot 2, 70 West Business Center Subdivision
Filing No. 2 situated in the NW &frac14; of Section 29, T. 3 S., R.&nbsp;69 W., of the
6<sup>th</sup> P.M., City of Wheat Ridge, County of Jefferson, State of
Colorado.</p>

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<p class=MsoNormal><b><u>15705 East Briarwood Circle, Aurora, Colorado 80016:</u></b></p>

<p class=MsoBodyText>LOT 7, BLOCK 1, CORNERSTAR
SUBDIVISION FILING NO. 2, COUNTY OF ARAPAHOE, STATE OF COLORADO.</p>

<p class=MsoNormal><b><u>4301 City Centre Road, Firestone, Colorado 80504:</u></b></p>

<p class=MsoNormal>LOT 3, FIRESTONE CITY CENTRE
SUBDIVISION FILING NO. 2, AS PER THE PLAT THEREOF RECORDED MAY 2, 2008 AT
RECEPTION NO. 3551426, COUNTY OF WELD, STATE OF COLORADO.</p>



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<p class=MsoNormal align=center style='margin-bottom:12.0pt;text-align:center'>EXHIBIT
B</p>

<p class=MsoNormal align=center style='margin-bottom:.25in;text-align:center'>SECURITY
INTERESTS</p>

<p class=MsoSignature style='margin-left:0in'><b><u>501 South College Avenue,
Ft. Collins, Colorado 80524</u></b></p>

<p class=MsoSignature style='margin-left:0in;text-align:justify'>PARCEL 1: A PART OF BLOCK 115, HARRISON'S ADDITION TO
THE CITY OF FORT COLLINS, DESCRIBED AS FOLLOWS:</p>

<p class=MsoNormal style='margin-bottom:6.0pt;text-align:justify'>BEGINNING AT THE NORTHEAST CORNER OF LOT 8 IN SAID
BLOCK 115; THENCE SOUTH, ALONG THE EAST LINE OF SAID BLOCK, 74.98 FEET TO THE
NORTHEAST CORNER OF A TRACT DESCRIBED IN BOOK 1253 AT PAGE 315, THENCE WEST, ALONG
THE NORTH LINE OF SAID TRACT DESCRIBED IN BOOK 1253, AT PAGE 315, A DISTANCE OF
85 FEET; THENCE SOUTH PARALLEL WITH THE EAST LINE OF SAID BLOCK 115, A DISTANCE
OF 25.01 FEET TO A POINT ON THE SOUTHERLY LINE OF LOT 7 IN SAID BLOCK;&nbsp; THENCE
WEST, ALONG SAID SOUTHERLY LINE, 40 FEET; THENCE NORTH, PARALLET LINE OF SAID
BLOCK, 100 FEET TO A POINT ON THE NORTH LINE OF SAID LOT 8; THENCE EAST, ALONG
SAID NORTH LINE, 125 FET TO THE POINT OF BEGINNING, COUNTY OF LARIMER, STATE OF
COLORADO.</p>

<p class=MsoNormal style='margin-bottom:12.0pt;text-align:justify'>PARCEL 2: THE WEST 65 FEET OF LOTS 7 AND 8, IN BLOCK
115, HARRISON'S ADDITION TO THE CITY OF FORT COLLINS, COUNTY OF LARIMER, STATE
OF COLORADO TOGETHER WITH THE EAST &frac12; OF VACATED ALLEY.</p>

<p class=MsoNormal style='text-align:justify'><b><u>2050 26<sup>th</sup> Street, Boulder, Colorado 80301</u></b></p>

<p class=MsoNormal style='margin-bottom:6.0pt;text-align:justify'>ALL OF LOTS 4, 5, 6, 7 AND 8, BLOCK 12 AND LOTS 1, 2,
3, 4 AND 5, BLOCK 13, ALL IN PINE STREET ADDITION TO BOULDER, A SUBDIVISION IN
THE COUNTY OF BOULDER, STATE OF COLORADO, ACCORDING TO THE RECORDED PLAT
THEREOF; A PORTION OF VACATED 27<sup>TH</sup> STREET; AND, A 50.00 FOOT WIDE
STRIP OF LAND LOCATED IN THE SW 1/4OF TH NW &frac14; OF SECTION 29, T. 1 N., R. 70 W.
OF THE 6<sup>TH</sup> P.M., CITY OF BOULDER, COUNTY OF BOIULDER, STATE OF
COLORADO, ALL MORE PARTICULRLY DESCRIBED AS FOLLOWS:</p>

<p class=MsoNormal style='text-align:justify'>COMMENCING
AT THE INTERSECTION OF THE WEST LINE OF THE SW 1/4 OF SAID SECTION 29 WITH THE
CENTERLINE OF PEARL STREET IN THE CITY OF BOULDER, FROM WHICH THE INTERSECTION
OF THE CENERLINE OF SAID PEARL STREET WITH THE CENTERLINE OF 26<sup>TH</sup>
STREET, IN THE CITY OF BOULDER BEARS N 75DEGREES00'34 E, THENCE N 00 DEGREES 16'39 W, 41.36
FEET ALONG THE WEST LINE OF THE SW &frac14; OF SAID SECTION 29 TO THE NORTHERLY
RIGHT-OF-WAY LINE OF SAID PEARL STREET; THENCE N 75DEGREES00'34 E, 810.04 FEET ALONG
THE NORTHERLY RIGHT-OF-WAY LINE OF SAID PEARL STREET TO THE SOUTHWEST CORNER OF
LOT 4 IN SAID BLOCK 12 AND THE TRUE POINT OF BEGINNING; THENCE CONTINUING N
75DEGREES 00'34 E, 531.89 FEET ALONG THE NORTHERLY LINE OF SAID PEARL STREET TO THE
SOUTHEAST CORNER OF LOT 5 IN SAID BLOCK 13; THENCE N 00 DEGREES 18' 06W, 63.20 FEET
ALONG THE EAST LINE OF LOT 5, IN SAID BLOCK 13 TO THE NORTHEAST CORNER THEREOF;
THENCE S 75DEGREES 03'09 W, 38.00 FEET ALONG THE NORTHERLY LINE OF SAID BLOCK 13;
THENCE N 13DEGREES 18' 38 E, 56.76 FEET TO A POINT ON A LINE 50.00 NORTHERLY, AS
MEASURED AT RIGHT ANGLES FROM AND PARALLEL WITH THE NORTHERLY LINE OF SAID
BLOCK 13; THENCE S 75DEGREES 03' 09 W, 536.89 FEET PARALLEL WITH THE NORTHERLY LINES
OF SAID BLOCKS 13 AND 12; THENCE S 15 DEGREES 01; 06 E, 111.55 FEET ALONG THE WESTERLY
LINE EXTENDED NORTHERLY AND ALONG THE WESTERLY LINE OF LOT 4 IN SAID BLOCK 12
TO THE TRUE POINT OF BEGINNING, SUBJECT TO ALL EASEMENTS, RESRVATIIONS,
RESTRICTIONS, COVENANTS AND AGREEMENTS OF RECORD; AND, SUBJECT TO ALL
EASEMENTS, OR CLAIMS OF EASEMENTS, NOT SHOWN ON THE GROUND; AND SUBJECT TO
DISCREPANCIES, CONFLICTS OF BOUNDARY LINES, ENCROACHMENTS, AND ANY FACTS WHICH
A CORRECT SURVEY AND INSPECTION OF THE PREMISES WOULD DISCLOSE AND WHICH ARE
NOT SHOWN BY THE PUBLIC RECORDS.</p>

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  <p class=MsoFooter>B-1</p>
  </td>
 </tr>
</table>

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<p class=MsoNormal style='text-align:justify'><b><u>1535 Rocky Mountain Avenue,
Loveland, Colorado 80538:</u></b></p>

<p class=MsoNormal style='margin-bottom:6.0pt;text-align:justify'>LOT 1, BLOCK 1, AMENDED PLAT OF TRACT A AND LOT 2,
ROCKY MOUNTAIN VILLAGE 8<sup>TH</sup> SUBDIVISION, TO THE CITY OF LOVELAND,
COUNTY OF LARIMER, STATE OF COLORADO.</p>

<p class=MsoNormal style='margin-bottom:6.0pt;text-align:justify'>AND</p>

<p class=MsoNormal style='text-align:justify'>PARCEL
1:</p>

<p class=MsoNormal style='margin-bottom:6.0pt;text-align:justify'>LOT 1, BLOCK 1 ROCKY MOUNTAIN VILLAGE TWELTH
SUBDIVISION, TO THE CITY OF LOVELAND, COUNTY OF LARIMER, STATE OF COLORADO.</p>

<p class=MsoNormal style='text-align:justify'>PARCEL
II:</p>

<p class=MsoNormal style='margin-bottom:6.0pt;text-align:justify'>OUTLOT A, C AND E, ROCKY MOUNTAIN VILLAGE TWELTH
SUBDIVISION TO THE CITY OF LOVELAND, COUNTY OF LARIMER, STATE OF COLORADO.</p>

<p class=MsoNormal style='text-align:justify'>PARCEL
III:</p>

<p class=MsoNormal style='margin-bottom:6.0pt;text-align:justify'>EASEMENTS AND OTHER RIGHTS CONTAINED IN OPERATION AND
EASEMENT AGREEMENT FOR CENTERRA MARKETPLACE II DATED EFFECTIVE OCTOBER 14, 2004
AND RECORDED OCTOBER 14, 2004 AT RECEPTION NO. 20040101536, COUNTY OF LARIMER,
STATE OF COLORADO.</p>

<p class=MsoNormal style='margin-bottom:6.0pt;text-align:justify'>PARCEL IV: LOT 8, BLOCK 1, MCWHINNEY TENTH
SUBDIVISION, TO THE CITY OF LOVELAND, COUNTY OF LARIMER, STATE OF COLORADO.</p>

<p class=MsoNormal style='margin-bottom:6.0pt;text-align:justify'>PARCEL V: EASEMENTS AND OTHER RIGHTS CONTAINED IN THE
OPERATION AND EASEMENT AGREEMENT BY AND BETWEEN DAYTON HUDSON COPRORATION AND
MCWHINNEY HOLDING COMPANY, LLC, RECORDED MARCH 3, 1998 AT RECEPTION NO. 98015993,
COUNTY OF LARIMER, STATE OF COLORADO.</p>

<p class=MsoNormal style='margin-bottom:12.0pt;text-align:justify'>PARCEL VI: LOTS 1, 2 AND 3 BLOCK 1, AND OUTLET A,
ROCKY MOUNTAIN VILLAGE THIRTEENTH SUBDIVISION TO THE CITY OF LOVELAND, COUNTY
OF LARIMER, STATE OF COLORADO.</p>

<p class=MsoNormal><b><u>16522 Washington Street, Broomfield, CO 80023:</u></b></p>

<p class=MsoNormal style='margin-bottom:12.0pt;text-align:justify'>LOTS 1, 2, 4 AND 5, LARKRIDGE SUBDIVISION FILING NO.
1, A SUBDIVISION LOCATED IN THE WEST ONE-HALF OF SECTIION 2 AND THE EAST
ONE-HALF OF SECTION 3, TOWNSHIP 1 SOUTH, RANGE 68 WEST OF THE SIXTH PRINCIPAL
MERIDIAN, CITY OF THORNTON, COUNTY OF ADAMS, STATE OF COLORADO, ACCORDING TO
THE OFFICIAL MAP THEREOF RECORDED OCTOBER 27, 2004 IN THE OFFICE OF THE CLERK
AND RECORDER OF ADAMS COUNTY, COLORADO UNDER INSTRUMENT NO. 20041027001078770.</p>

<p class=MsoNormal><b><u>9130 Wadsworth Parkway, Westminster, CO 80021:</u></b></p>

<p class=MsoSignature style='margin-top:0in;margin-right:0in;margin-bottom:
12.0pt;margin-left:0in'>LOT 4, WESTGLENN
SUBDIVISION FILING NO. 7, JEFFERSON COUNTY, COLORADO.</p>

<p class=MsoSignature style='margin-left:0in'><b><u>3230 Youngfield Service
Road, Wheat Ridge, CO 80033:</u></b></p>

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  padding-bottom:0in;padding-left:0in'>
  <p class=MsoFooter>Lot
  2, Block 1, 70 WEST BUSINESS CENTER SUBDIVISION FILING NO. 3, a
  re-subdivision of Lot 4, Lot 6, and a part of Lots 1 and 7, 70 West Business
  Center and Lot 1 and Lot 2, 70 West Business Center Subdivision Filing No. 2
  situated in the NW 1/4 of Section 29, T. 3 S., R.&nbsp;69 W., of the 6<sup>th</sup>
  P.M., City of Wheat Ridge, County of Jefferson, State of Colorado. B-2</p>
  </td>
 </tr>
</table>

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