EXHIBIT 10.33
NOTE EXTENSION AGREEMENT
This Note Extension Agreement (this Agreement"), effective as of July
6, 1997, is entered into by and between Virtual Mortgage Network, Inc., a Nevada
corporation (the "Company") and ______________________________, a
______________________________ (the "Holder").
A. On ____________ ____, 199__, the Company executed a Promissory
Note (the "Note") in the amount of $_______________ in favor of Holder with a
maturity date of March 6, 1997 (the "Maturity Date") and issued a warrant to the
Holder to purchase ______________ shares of the Company's Common Stock, $.001
par value, at an exercise price of $.001 per share.
B. Pursuant to a Letter Agreement dated April 1, 1997, Holder agreed
to extend the Maturity Date to July 6, 1997.
C. The parties now desire to further extend the Maturity Date
pursuant to the terms of this Agreement.
In consideration of the mutual promises contained herein and intending
to be legally bound, the parties agree as follows:
1. Extension of Maturity Date. The Company and Holder hereby agree that the
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Maturity Date of the Note shall be January 6, 1998.
2. Issuance of Warrants. The Company hereby agrees to execute in favor of
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Holder a Common Stock Purchase Warrant (the "Warrant"), a form of which is
attached hereto as Exhibit A, concurrent with the execution and delivery of this
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Agreement. The Warrant shall grant the Holder the right to purchase __________
shares of the Company's Common Stock, $.001 par value, at an exercise price of
$.001 per share and shall be dated of even date herewith.
3. Amendments. This Agreement may be amended only by agreement in writing by
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the parties.
4. Governing Law. This Agreement shall be governed by and construed in
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accordance with the laws of the State of California, without regard to conflicts
of law doctrines.
5. Counterparts. This Agreement may be executed in counterparts, and each
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counterpart, when executed, shall have the efficacy of a signed original.
Photostatic copies of such signed counterparts may be used in lieu of the
originals for any purpose.
IN WITNESS WHEREOF, each of the parties hereto has caused this
Agreement to be executed as of the day and year first above written.
"COMPANY"
VIRTUAL MORTGAGE NETWORK, INC.
a Nevada corporation
______________________________________________
Name:_________________________________________
Title:________________________________________
"HOLDER"
______________________________________________
Name:_________________________________________
Title:________________________________________
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EXHIBIT A
FORM OF COMMON STOCK PURCHASE WARRANT
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