At January 1, 2013, NCI Industries, Inc. was indebted to First Federal Bank under a $290,000, 10% unsecured note. The note was signed January 1, 2011, and was due December 31, 2014. Annual interest was last paid on December 31, 2011. NCI was experiencing severe financial difficulties and negotiated a restructuring of the terms of the debt agreement. First Federal agreed to reduce last year