Summary of Oral Extension Terms for Promissory Note between Emerald Asset and Registrant
This document summarizes the orally agreed extension of a promissory note originally issued by the Registrant as borrower to Emerald Asset as lender. The principal amount of $50,000 at a 10% annual interest rate, originally due on October 31, 2008, has been extended to December 31, 2008. No periodic payments are required; both principal and interest are due in full on the new due date.
EXHIBIT 10.63
Description of Oral Extension-Emerald Asset 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 |
| % |
Number | Lender | Date | Date | Date | Principal | Rate |
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10.33 | Emerald Asset | 09/03/2008 | 10/31/2008 | 12/31/2008 | $50,000.00 | 10% |
