OBSIDIAN ENTERPRISES INC
EXHIBIT 10.3
<DOCUMENT>
<TYPE>EX-10
<SEQUENCE>4
<FILENAME>exhibit10-3.txt
<DESCRIPTION>EXHIBIT 10.3
<TEXT>
                                  Exhibit 10.3

                 First Amendment to Business Loan Agreement and
                        Promissory Note (Line of Credit)

     THIS FIRST  AMENDMENT TO BUSINESS LOAN AGREEMENT AND PROMISSORY  NOTE (Line
of Credit) dated this 28th day of March 2003, is by and among Danzer Industries,
Inc., a Maryland corporation  ("Borrower") and Fair Holdings,  Inc. ("Fair"), an
Ohio corporation. The parties agree as follows:

                                    Recitals

     WHEREAS,  Borrower  and Bank of America,  N.A.  ("Bank")  entered into that
certain  Business Loan Agreement  ("Loan  Agreement")  and Promissory  Note (the
"Line of Credit Note"), both dated August 15, 2001;

     WHEREAS,  Fair has become the  successor by assignment to all of the Bank's
rights,  title  and  interest  under and to the Loan  Agreement  and the Line of
Credit Note pursuant to a certain Assignment of Note and Other Loan Documents of
even date herewith;

     WHEREAS,  Fair has  agreed  to amend  the Line of  Credit  Note in order to
extend the term of the Line of Credit Note;

     WHEREAS,  Fair is willing to amend the Loan Agreement  subject to the terms
herein and subject to the amendment of the Note as herein provided;

     NOW THEREFORE,  in consideration  of the premises,  and the mutual promises
herein  contained,  the  parties  agree  that the Note  shall be, and hereby is,
amended as provided herein and the parties further agree as follows:

1.   Extension of the term of the Note: The term of the Note is hereby  extended
     to April 1, 2006 such that the entire principal  balance under the Note and
     all accrued and unpaid interest thereon,  shall be due and payable on April
     1, 2006.

2.   Waiver:  Fair hereby waives any and all defaults  under the Loan  Agreement
     and/or the Line of Credit  Note  existing at the time of the  execution  of
     this Agreement and further waives  compliance  with the Debt to Worth Ratio
     and Debt Service  Coverage  Ratio as required in the Loan  Agreement  until
     April 1, 2006.

     All other terms and conditions contained in the Loan Agreement and the Line
of Credit Note shall remain the same and shall continue in full force and effect
that are not  specifically  amended herein and shall continue during the amended
term of the Line of Credit Note without change.

     IN WITNESS WHEREOF,  Borrower, and Fair have caused this First Amendment to
Business Loan Agreement and  Promissory  Note (Line of Credit) to be executed by
its duly authorized by their representatives as of the day first written above.


Fair Holdings, Inc.                         Danzer Industries, Inc.


By: /s/ Timothy S. Durham                   By: /s/ Mel E. Williams
    ----------------------------                ---------------------------
    Timothy S. Durham, Chairman                 M.E. Williams, President





</TEXT>
</DOCUMENT>
