One-Time Credit Card Loan Agreement CCLA #: 81612
EXHIBIT 10.40
CCLA #: 81612
This credit card loan agreement dated August 16, 2012, is between Xxxxx Xxxxxxx (the card holder/”Lender”) and RedFin Network, Inc. (the card user/”Borrower”).
The intent of this agreement is that Lender will allow Borrower to charge monies in the amount of $14,872 (Fourteen Thousand Eight Seventy Two Dollars, the “Loan Amount”) on the credit card number listed below owned by Lender:
VISA/Mastercard/Discover/American Express 1002 Exp _8/16
Lender agrees that the amount loaned shall be charged to Lenders card on 8/16/12 (“The Loan Date”).
Borrower agrees to repay said loan on or before payment due to credit card (“The Loan Due Date”)
Borrower agrees that these monies will be used for the exclusive purpose of the purchase of inventory to fulfill product orders that have been placed with Borrower.
Borrower agrees that the amount borrowed/charged to credit card will never be more than $30,000 and shall.
Repayment of loan amount shall be made on or before credit card due date calendar days after charge is made to card and repayment shall be made in full.
As consideration for the aforementioned loan of funds by Lender, Borrower shall be entitled to an additional repayment amount of $ 0.00 due upon repayment of principal.
Borrower agrees to wire repayment of loan amount to Lenders account the day before the Loan Due Date so that cleared funds are in Lenders account available for withdrawal on the due date.
Lender shall supply an executed IRS Form W-9 upon the signing of this document.
Agreed to this ________________ day of ______________ 2012.
___________________________
Signed Lender
___________________________
Borrower
0000 X. Xxxxxxx Xxxxx Xx
Xxxxx 000
Xxxx Xxxxxxxxxx, Xx 00000
000.000.0000/Fax 000.000.0000
xxx.XxxXxxXxx.xxx
