Summary Promissory Note
EX-10.17 18 v450739_ex10-17.htm EXHIBIT 10.17
Exhibit 10.17
Summary Promissory Note
Date: February 19, 2012
By: Email
Attn: UNorth LLC
274 E Hamilton Ave, Suite A
Campbell, CA 95008
RESOLVED, that LLC would borrow amount of $76,000 from Lily Ju on February 19, 2012. LLC agrees to pay back the amount by March 19, 2012 with annual interest rate of 14% calculated on daily basis. The payment schedule will be as follows:
Borrowed Amount: $76,000
Interest: 14.00%
Estimated Value on 03/19/12: $76,886
Daily Interest Rate: 0.038%
Should the LLC pay the amount later than the above date, the interest will continue to be calculated on daily basis. In addition, amount of $4,125 will be added as bonus to the payment upon paying back the amount.
/s/ Michael Faro | |
Michael Faro | |
Managing Member | |
UNorth LLC |
UNorth® LLC | |
PO Box 1116, Campbell, CA 95009 | |
1 ###-###-#### tel | |
1 ###-###-#### fax | |
www.unorth.com |