LOAN AGREEMENT
THIS
LOAN AGREEMENT (this "Agreement") dated this 7th
day
of February, 2008
BETWEEN:
Xxxxxxxx
Xxxxxxx
(the
"Lender")
OF
THE FIRST PART
AND
Mega
Media Group, Inc. of 0000 Xxxxx Xxxxxx Xxxxxx. Xxxxxxxx. XX 00000
(the
"Borrower")
OF
THE SECOND PART
IN CONSIDERATION OF the Lender
loaning certain monies (the "Loan") to the Borrower, and the Borrower repaying
the Loan to the Lender, both parties agree to keep, perform and fulfill the
promises and conditions set out in this Agreement:
Loan
Amount & Interest
1. The
Lender promises to loan One Hundred Thousand, ($100,000.00 ) USD. to the
Borrower and the Borrower promises to repay this principal amount to the Lender,
at such address as may be provided in writing, with interest payable on the
unpaid principal at the rate of 9.00 percent per annum. calculated yearly
not in advance.
Payment
2. This
Loan will he repaid in full 30 Days from the execution of this
Agreement.
Default
3.
Notwithstanding anything to the contrary in this Agreement, if the Borrower
defaults in the performance of any obligation under this Agreement, then
the Lender may declare the principal amount owing and interest due under
this Agreement at that time to be immediately due and payable.
Governing
Law
4. This
Agreement will be construed in accordance with and governed by the laws of the
State of New York.
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Costs
|
5.
|
All
costs, expenses and expenditures including, without limitation. the
complete legal costs incurred by enforcing this Agreement as a result of
any default by the Borrower will be added to the principal then
outstanding and immediately be paid by the
Borrower
|
Assignment
|
6.
|
This
Agreement will pass to the benefit of and be binding upon the respective
heirs, executors, administrators, successors and assigns of the Borrower.
The Borrower waives presentment for payment, notice of non-payment,
protest, and noticeof protest.
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Amendments
7. This
Agreernent may only be amended or modified by a written instrument executed by
both the Borrower and the Lender.
Severability
|
8.
|
The
clauses and paragrphs contained in this Agreement are intended to be read
and construed independently of each other. If any part of this Agreement
is held to be invalid, this invalidity will not affect the operation of
any other part of this Agreement.
|
Central Provisions
|
9.
|
Headings
are inserted for the convenience of the parties only and are not to be
considered when interpreting this Agreement. Words in the singular mean
and include the plural and vice versa. Words in the masculine mean and
include the
ieminineandvice versa.
|
Entire
Agreement
10.
This Agreement constitutes the entire agreement between the parties
and there are no further items or provisions, either oral or
otherwise.
IN WITNESS
WHEREOF.
the parties have duly affixed their signatures under hand and seal on
this 7th day of February,
2008.
/s/
Xxxxxxxx Xxxxxxx
Xxxxxxxx
Xxxxxxx
Mega
Media Group, Inc.
Per:
/s/ Xxxx
Xxxxxxx
(Seal)
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Citibank
NA
000
Xxxxxxxxx Xxxxxx
Xxx Xxxx,
XX 00000
Branch no
096
Tel
0-000-000-0000
ABA
0210000889
Swift
Code CititiS133
Mega
Media Group, Inc.
0000
Xxxxx Xxxxxx Xxxxxx
Xxxxxxxx,
XX 00000
Tel
0-000-000-0000
Fax
0-000-000-0000
Account
Number 9932267558
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