50 of the Top 250 law firms use our Products every day
Exhibit 10(s)
LINE OF CREDIT
PROMMISSORY NOTE
Date: September 8, 2008
FOR VALUE RECEIVED, Regan Holding Corp.,
(“Borrower”) promises to pay to the order of Lynda
Pitts and/or Preston Pitts (“Lender”), the principal
sum of Two Hundred and Twenty Five Thousand Dollars ($225,000) or
so much as may be additionally disbursed to, or for the benefit of
the Borrower by Lender in Lender’s sole and absolute
discretion. It is the intent of the Borrower and Lender
hereunder to create a line of credit agreement between Borrower and
Lender whereby Borrower may borrow from Lender; provided, however,
that Lender has no obligation to lend Borrower any amounts
hereunder and the decision to lend such money lies in the sole and
complete discretion of the Lender.
INTEREST & PRINCIPAL: The
unpaid principal of this line of credit shall bear simple interest
at the rate of six percent (6%) per annum. Interest shall be
calculated based on the principal balance as may be adjusted from
time to time to reflect additional advances made hereunder.
Interest on the unpaid balance
|
