Summary of Oral Extension Terms for R. Reiner Promissory Note (Registrant as Borrower)
This document summarizes the orally agreed extension of a promissory note between R. Reiner (lender) and the registrant (borrower). The original $10,000 loan, dated August 19, 2008, was due November 19, 2008, but the due date has been extended to December 31, 2008. No periodic payments are required; both principal and 10% annual interest are due in full on the new due date.
EXHIBIT 10.61
Description of Oral Extension-R. Reiner 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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10.32 | R. Reiner | 08/19/2008 | 11/19/2008 | 12/31/2008 | $10,000.00 | 10% |
