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