Promissory Note Between NWBO Corporation, Bob Duane, Cary Hise, and PrimeSource Mortgage, Inc.

Contract Categories: Business Finance › Note Agreements
Summary

NWBO Corporation, Bob Duane, and Cary Hise have agreed to repay PrimeSource Mortgage, Inc. a loan of $98,954.18. The loan is to be repaid with 14 monthly interest payments of $1,000 each, starting June 30, 2008, and a final payment of $96,381.53 due on August 30, 2009. The interest rate is 9.25% per year, calculated on an actual/360 basis. The loan is secured by separate security agreements dated February 16, 2007, and November 16, 2006.

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EX-10.4 5 v148872_ex10-4.htm Unassociated Document

nwbo corporation & bob duane & cary hise,
  
primesource mortgage, inc.
individually
  
1112 n. main street
3230 camp bowie, suite a
  
roswell, nm 88201
fort worth, tx 76107
    
     
borrower’s name and address
  
lender’s name and address

For value received, I promise to pay to you, or your order, at your address listed above the principal sum of ninety eight thousand nine hundred fifty four dollars and 18/100 Dollars  $98,954.18.

x Single Advance:  I will receive all of this principle sum on 05/15/2007.  No additional advances are contemplated under this note.

interest:  I agree to pay interest on the outstanding principal balance from 05/30/2008 at the rate of 9.250% per year until 08/30/2009.

accrual method: Interest will be calculated on a ACTUAL/360 basis.

post maturity rate: I agree to pay interest on the unpaid balance of this note owing after maturity, and until paid in full, as stated below:

 
x
on the same fixed or variable rate basis in effect before maturity (as indicated above).

payments: I agree to pay this note as follows:

14 monthly interest payments of $1,000.00 each beginning 06-30-08 and 1 payment of $96,381.53 on 08/30/09.

x security: This note is separately secured by (described separate document by type and date):

security agreement dated February 16, 2007 and November 16, 2006.

signatures:  I agree to the terms of this note.

Signature for Lender

primesource mortgage, inc.
  
nwbo corporation & bob duane & cary hise, individually
   
 
/s/ Jeffrey R. Smith
  
/s/ Bob Duane, President & Individually
     
   
/s/ Cary Hise, Individually