GUARANTEE AND SECURITY AGREEMENT DATED SEPTEMBER 30, 2008Guarantee and Security Agreement • October 6th, 2008 • V2K International Inc • Miscellaneous furniture & fixtures • Colorado
In consideration of the loans evidenced by the promissory notes of V2K INTERNATIONAL, INC., a Colorado corporation (the “Obligor”), dated September 30, 2008, payable to the order of GORDON E. BECKSTEAD, R.J. WITTENBRINK, and VICTOR J. YOSHA (the “Beneficiaries”), in the aggregate principal amount of Seven Hundred Thirty-One Thousand Four Hundred Fifty-Three and no/100 United States dollars (U.S.$731,453.00), bearing interest at the rate of 12% per annum and payable on June 30, 2009 (the “Notes”, which term will include any and all amendments thereto and substitutions therefor hereafter made and regardless of whether they are made with or without the approval of the Guarantor defined below), and in order to induce the Beneficiaries to make the loans evidenced by the Notes, V2K TECHNOLOGY, INC., a Colorado corporation (“Guarantor”) hereby unconditionally and irrevocably guarantees payment when due of any and all amounts owing under the Notes. The Guarantor further agrees, with respect to
