Loan Payable Confirmation and Forgiveness Agreement between NuGen Mobility Inc. and Eric Takamura

Contract Categories: Business Finance › Note Agreements
Summary

NuGen Mobility Inc. confirms to its auditors that as of September 30, 2009, it owed Eric Takamura $551,381.97 in principal and $130,250.47 in interest on several loans made between September 2006 and June 2008, with an interest rate of 10.2%. The loan was payable on demand or upon sale or financing of the company. However, as of September 30, 2009, both the principal and interest have been forgiven by Eric Takamura. This confirmation is signed by Eric Takamura as both lender and company president.

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EX-10.36 4 v235110_ex10-36.htm EXHIBIT 10.36
NuGen Mobility Inc.
44645 Guilford Drive, Suite 201
Ashburn, VA 20147

Mr. Eric Takamura

Re: LoanPayable

In connection with the audit of our financial statements, please confirm directly to our auditors: Webb & Company, P.A., 1501CorporateDrive, Suite 150, Boynton Beach, FL  33426, the amount of our note payable to you, as of September 30, 2009:

Date of Loan
Several from Sept 06 to June 08
Original amount
$556,381.97
Unpaid balance at September 30, 2009
$551,381.97
Unpaid interest balance at September 30, 2009
$130,250.47
Interest rate at September 30, 2009
10.2%        %
Collateral
No subordination
Date Due
30 days payable upon demand or sale of interest or financing of corporation

Please forward this information directly to our auditors, Webb & Company, P.A. via Fax at ###-###-#### and mail the original to Webb & Company, P.A., 1501 Corporate Drive, Suite 150, Boynton Beach, FL  33426.

Additional Notes:

The principal sum and interest reflected have also been forgiven as of September 30, 2009
/s/ Eric Takamura
  
 
Very Truly Yours,

/s/ Eric Takamura
  
Eric Takamura, President

This information is correct as of November 5, 2009
 
(Today’s Date)

Authorized Signature:
  /s/ Eric Takamura
  

Print Name:
      Eric Takamura
Title:
      personal