Summary Promissory Note
EX-10.16 17 v450739_ex10-16.htm EXHIBIT 10.16
Exhibit 10.16
Summary Promissory Note
Date: December 22, 2011
By: Email
Attn: Shareholders – UNorth LLC
274 E Hamilton Ave, Suite A
Campbell, CA 95008
RESOLVED, that LLC would borrow amount of $20,000 from the LLC member Maryam Rowghani on December 22, 2011. LLC agrees to pay back the amount by Feb 28, 2012 with annual interest rate of 14%. The payment schedule will be as follows:
Borrowed Amount: $20,000
Interest: 14.00%
Estimated Value on 02/28/12: $20,528
Daily Interest Rate: 0.038%
/s/ Michael Faro | |
Michael Faro | |
Managing Member | |
UNorth LLC |
UNorth® LLC | |
PO Box 1116, Campbell, CA 95009 | |
1 ###-###-#### tel | |
1 ###-###-#### fax | |
www.unorth.com |