Summary of Oral Extension Terms for N. Popravsky Sr. Promissory Note
This document summarizes the orally agreed extension of a promissory note between N. Popravsky, Sr. (lender) and the registrant (borrower). The original $14,500 loan, dated January 30, 2008, was extended from its initial due date of April 30, 2008, to a new due date of December 31, 2008. No periodic payments are required; both principal and 10% annual interest are due in full on the extended due date.
EXHIBIT 10.49
Description of Oral Extension-N. Popravsky Sr. Promissory Note
Summary of Terms of the Orally Agreed upon Extension to following Simple Promissory Note (with corresponding exhibit number of original note) under which Registrant is the Borrower. No periodic payments are required and principal and interest are due on the extended due date.
Original |
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Note |
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| Original | Oral |
| Annual |
Exhibit |
| Loan | Due | Extension |
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Number | Lender | Date | Date | Date | Principal | Rate |
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10.43 | N. Popravsky, Sr | 01/30/2008 | 04/30/08 | 12/31/2008 | $14,500.00 | 10% |
