Promissory Note Between Home School, Inc. and Ken Lydecker Dated April 2, 2008
Home School, Inc., a Delaware corporation, has borrowed $10,000 from Ken Lydecker of Park Ridge, IL, under a short-term, unsecured promissory note. The loan is to be repaid within 30 days, and if paid on time, no interest is charged. If the loan remains unpaid after May 1, 2008, it will accrue interest at 1% per month. There is no penalty for early repayment, and the note does not give Ken Lydecker priority over other creditors.
Exhibit 10.9
4/02/08
Good morning, Ken.
Below is a note memorializing your short-term loan to the Company. Please sign and date as indicated below. Thanks so much for your help!
PROMISSORY NOTE
This note evidences a debt of ten thousand dollars ($10,000) owed by Home School, Inc, a Delaware ‘C’ Corporation to Ken Lydecker of Park Ridge, IL. It is a short-term loan of 30 days duration or less.
If the loan is repaid in a timely manner, no interest shall adhere. It the loan is still outstanding as of 05/01/08, it shall bear interest in cash at the rate of 1% per month.
The debt shall be repaid with all due speed and no prepayment penalty shall adhere if Home School, Inc. repays it sooner than anticipated.
This debt is unsecured and confers no standing superior to other creditors.
Signed this day, April 2, 2008
| /s/ Thomas Morrow | /s/ Ken Lydecker | |||
| Thomas Morrow, CEO Home School, Inc | Ken Lydecker |
