Exhibit 10.7
LOAN AGREEMENT
InsideOut Development, LLC agrees to loan capital in the form of
cash to e-automate on the following dates and in the following amounts:
Date Amount
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6/9/00 $155,000.00
e-automate agrees to repay the full amount of principal plus
interest at an annual rate of 15% (simple interest compounded
daily). The full loan amount shall become due payable upon demand.
InsideOut Development, LLC agrees to loan cash to e-automate in the
future based on management approval according the terms negotiated
above. InsideOut Development, LLC reserves the right to deny any
request for a loan at any time for any reason. All transactions
between e-automate and InsideOut Development, LLC including past,
present, and future are construed to be at arms-length.
The terms of this agreement are fully agreed to and signed this 16th
day of June, 2000.
/s/ Xxxxx X. Xxxxxxxx /s/ Xxx Xxxxx
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InsideOut Development, LLC e-automate
Xxxxx X. Xxxxxxx Xxx Xxxxx
Managing Partner President/CEO
/s/ Xxx Xxxxx
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e-automate
Xxx Xxxxx, CFO
