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Fort Ashford Funds, LLC Schedule to
Loan and Security Agreement
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Borrowers: Single Touch Systems,
Inc.
Single Touch Interactive,
Inc.
Address: 2235 Encinitas Blvd. Suite 210
Encinitas, California 92024
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Date: December [5], 2008
This Schedule forms an integral part of the
Loan and Security Agreement between Fort Ashford Funds, LLC and the
above-borrower of even date.
1. LOAN AMOUNT (Section 1.1):
$1,000,000.00
The Loan shall be made in one disbursement upon satisfaction of
the conditions set forth in this Agreement. Estimated costs and
expenses (including without limitation attorneys fees and filing
fees) may be deducted by Lender from such disbursement. To the
extent actual costs and expenses exceed the amount deducted,
Borrower shall pay the difference on request of Lender, and to the
extent actual costs and expenses are less than the amount deducted,
Lender shall refund the difference to Borrower.
The Loan and interest thereon shall be repaid as follows:
(a) Accrued interest for the period from the date
the Loan is advanced to 90 days after the date hereof shall be due
and payable 90 days after the date hereof, and at maturity; and
(b) The entire unpaid principal balance of the Loan shall be
repaid in full 180
days after the date hereof.
2. Interest (Section 1.2):
The Loan shall bear interest at a fixed rate
equal to 10% per annum. Interest shall be calculated on the basis
of a 360-day year for the actual number of days elapsed.
3. Fees (Section 1.4):
Facility Fee: n/a.
4. Financial Covenants. n/a
5. Reporting (Section 5.3):
Borrower shall provide Lender with the following:
Copies of all filings with the S
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