Loan Agreement between Venturetek, LP and Chocolate Candy Creations, Inc. (March 2011)

Contract Categories: Business Finance › Loan Agreements
Summary

Venturetek, LP, through its general partner Taurus Max LLC, agrees to lend Chocolate Candy Creations, Inc. up to $50,000, increasing the previous limit of $25,000. Loans will accrue interest at the prime rate plus 2% per year. Repayment terms for each loan will be set at the time the funds are drawn. The agreement is effective as of March 14, 2011, and requires written requests for advances.

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EX-10.4 2 cccexhib104.htm LOAN AGREEMENT cccexhib104.htm
Exhibit 10.4


Venturetek, LP
c/o David Selengut, Esq.
Ellenoff Grossman & Schole
150 East 42nd Street
New York, NY  10017


March 14, 2011


Chocolate Candy Creations, Inc.
130 Shore Road, Suite 238
Port Washington, NY  11050

Gentlemen:

On March 15, 2010, we agreed to lend you, from time to time, up to a maximum of $25,000 outstanding at any time (“Maximum Amount”) upon your written request to us.  We hereby agree to increase the Maximum Amount to $50,000.  As previously agreed to, any such loan or loans shall bear interest at the rate of prime plus 2% per annum and shall be  repayable at such time as shall be agreed by us at the time of the drawdown of the applicable loan.


Very truly yours,


Venturetek, LP
Taurus Max LLC, general partner

BY:  /s/ David Selengut
    _____________________________
         David Selengut
         Manager