Unsecured Loan Agreement between Imobolis, Inc. and Julian Spitari dated September 10, 2010

Contract Categories: Business Finance › Loan Agreements
Summary

Imobolis, Inc., a Nevada corporation, has entered into an unsecured loan agreement with Julian Spitari, who is lending the company $6,500 for working capital. The loan accrues interest at 8% per year and is repayable on demand. There are no rights to convert the loan into equity. The agreement was executed on September 10, 2010, and outlines the basic terms of the loan, including the parties involved, the amount, interest rate, and repayment terms.

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EX-10.3 3 imobolis_s1a-ex1003.htm LOAN AGREEMENT Unassociated Document
Exhibit 10.3
 
 
LOAN AGREEMENT
(Unsecured)

This Agreement, by and between Imobolis, Inc. a corporation duly organized and existing under the laws of the State of Nevada, "Corporation" and, Julian Spitari an individual "Note Holder".

WITNESSETH:
WHEREAS, Note Holder is willing to lend Imobolis, Inc. the aggregate sum of $6,500 which shall be evidenced by this executed Short term note.
The key terms and conditions are detailed below.
The funds are too be used for working capital of Imobolis, Inc.
The other key terms and conditions of the loan facility are as follows:

Borrower:
Imobolis, Inc.
8950 West Olympic Blvd.  Suite 350,
Beverly Hills, CA 90211
 
 
Note Holder: Julian Spitari
Amount of loan: $6,500
Term: Due on Demand
Rate: 8% annual interest will be accrued on note until re-payment.
Conversion: There are no conversion rights.

 
 
Execution and Date:
 
By:____Julian Spitari, President of Imobolis, Inc.
  /s/       Julian Spitari                                                 
Printed Name: Julian Spitari                                    
Date: September 10, 2010