[Natural Spirit Logo]
Natural Spirit Mushroom Enterprise Inc.,
00000 XX 00xx Xxxxxx
Xxxx Xxxxxxx, XX 00000
Loan Agreement between NSME & Mr. Xxxx Xxxxxxx, President
NSME agrees to loan its President, Xxxx Xxxxxxx, $8000 at an annual interest
rate of 8% to be paid back on or before May 31, 2001, under the following terms:
(l) The payments will be deducted from Xx. Xxxxxxx'x pay
(2) These funds are to be used exclusively for the resolution of
Xx. Xxxxxxx'x legal problems; Specifically, financial
restitution and community service requirements. Each use will
be documented by receipts. Copies of these receipts will be
provided to the NSME Board of Directors.
(3) Any breach of or failure to adhere to these terms will result
in the automatic and immediate removal of Xx. Xxxxxxx from
NSME's Board of Directors and the balance to the loan will
become immediately due and payable.
By my signature affixed below, I acknowledge that I have read and understood the
above and agree to be so bound.
/s/ Xxxx X. Xxxxxxx
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Xxxx X. Xxxxxxx
President
NSME, Inc.
8/14/99
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Date
