ARTICLE 2 - LOAN
2.1 Loan. The Lender has agreed to advance the sum of One Hundred Thousand Dollars
($100,000.00) (the “Loan”) by way of loan to the Borrower upon and subject to the terms and
conditions contained in this Loan Agreement.
2.2 Repayment of Loan. The principal amount of the Loan together with accrued interest
shall be repayable on September 30, 2009.
2.3 Interest. The Loan shall bear interest at the rate of 8.5% per annum payable monthly
in arrears commencing on the last day of the month after the date of the advance of the Loan.
2.4 Security. Payment of the Loan will be secured by:
(a) a general security agreement in the form of the security agreement set out in
Schedule “A” hereto (the “Security Agreement”); and
(b) a guarantee from Henry in the form of the guarantee set out in Schedule "B"
hereto (the "Guarantee");