Demand Promissory Note between V2K International, Inc. and Gordon E. Beckstead dated September 24, 2008
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Summary
V2K International, Inc. has borrowed $20,000 from Gordon E. Beckstead under a demand promissory note dated September 24, 2008. The company agrees to repay the loan in full, with 12% annual interest, whenever the lender requests repayment. If the note is not paid when due, the borrower must also cover all collection costs, including legal fees. The agreement is signed by the company's CFO and does not specify a fixed repayment date, making the loan payable on demand.
EX-10.1 2 exh10-1_note.htm EXH 10-1 PROMISSORY NOTE exh10-1_note.htm
EXHIBIT 10.1
DEMAND PROMISSORY NOTE IN FAVOR OF
GORDON E. BECKSTEAD DATED SEPTEMBER 24, 2008
DEMAND PROMISSORY NOTE
$20,000.00
Lakewood, Colorado
September 24, 2008
For value received, the undersigned, V2K INTERNATIONAL, INC., a Colorado corporation (the “Borrower”), hereby promises to pay on demand, to the order of Gordon E. Beckstead (the “Lender”), at, 6635 East Sage Lane, Parker, CO 80138, or at any other place designated at any time by the holder hereof, in lawful money of the United States of America and in immediately available funds, the principal sum of TWENTY THOUSAND AND NO/100 DOLLARS ($20,000.00) together with interest on the principal amount hereunder, computed on the basis of the actual number of days elapsed and a 365-day year, from the date hereof until this Note is fully paid at the rate of TWELVE PERCENT (12%) per annum.
The Borrower hereby agrees to pay all costs of collection, including attorneys’ fees and legal expenses, in the event this Note is not paid when due, whether or not legal proceedings are commenced.
Presentment or other demand for payment, notice of dishonor and protest are expressly waived.
| V2K INTERNATIONAL, INC., a Colorado corporation | |||
| | By | /s/ Jerry A. Kukuchka | |
| Its | CFO | ||
