IMO: looks like SQUM had at least two loans from the Svenningsen Trust. One of those loans went into default. SQUM asked for additional advances and that the default date be extended. The Trust agree to do so but only if all the loans were consolidated into one and that SQUM pay it off by a 12/15/06. This foreberance agreement cured the event of default of the one note and made the entire sum of $3.650M all due and payable by 12/15/06 .
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