Generation Zero Group, Inc. entered into a Forbearance Agreement with secured note holders in November 2010, which was subsequently amended and extended through January 2, 2016, in connection with a total of $2,920,250 owed by the company to the Note Holders pursuant to the secured notes which are in default. On July 15, 2016, holders of a majority in principal amount outstanding of the company's secured notes authorized the Collateral Agent to enter into the Third Addendum to Forbearance and Note Amendment Agreement. Pursuant to the Third Addendum, the Collateral Agent for the Note Holders agreed to forbear from taking any action in connection with the secured notes (subject to the terms of the Third Addendum) from January 2, 2016 until January 2, 2017. In recognition of the resources and commitment required to successfully negotiate the final settlement of the Geronimo legal matters, the Note Holders agreed to waive forbearance fee for this Third Addendum. The company shall use its good faith efforts to continue to support its blanket legal opinion (when applicable) to facilitate the removal of restrictive legends on shares of common stock previously authorized for issuance in June 2010, November 2010 and April 2012 and issued (or to be issued) by the Company to Note Holders in association with the secured notes.