LOGO] LOAN AND SECURITY AGREEMENTLoan and Security Agreement • February 11th, 2000 • Lee Pharmaceuticals • Perfumes, cosmetics & other toilet preparations • California
STRAIGHT NOTELee Pharmaceuticals • February 11th, 2000 • Perfumes, cosmetics & other toilet preparations
For value received, Lee Pharmaceuticals promises to pay Mark DiSalvo or order, at South El Monte, California the sum of TWO HUNDRED THOUSAND DOLLARS, with interest from November 11, 1999, on unpaid principal at the rate of twenty (20) per cent per annum; principal is payable monthly, commencing on December 25, 1999, with monthly principal payments of $10,000. Interest shall be calculated on the basis of the unpaid principal balance daily, based on a 365-day year, actual day month and payable monthly. Principal and interest shall be payable in lawful money of the United States. If action were instituted on this note, I promise to pay such sum as the Court may fix as attorney's fees. This note is secured by the following trademarks; Cope and Astring-o-Sol.
