PROMISSORY NOTE (UNSECURED)Promissory Note • April 13th, 2001 • Geo Petroleum Inc • Crude petroleum & natural gas
FOR VALUE RECEIVED, the undersigned, Geo Petroleum, Inc., a California Corporation, ("Maker") does hereby agree to pay to TD and Associates, Inc. a California Corporation, ("Payee") or order, the principal amount of _________ dollars ($_________). Payments hereunder shall be made at the principal place of business of Payee or such other place as the holder hereof shall, from time to time, designate in writing deliver to Maker. Outstanding principal shall bear interest at the prime rate as determined monthly by reference to the Wall Street Journal for the first business day of each month, which rate as announced therein shall be the prime rate for such month, plus two percentage points.
Exhibit 10.22 LINE OF CREDIT AGREEMENT Yorba Linda, California September 7, 2000 The undersigned, TD and Associates, Inc. ("TD") and Geo Petroleum, Inc. (Geo"), agree that TD will make available to Geo a line of credit with the maximum amount...Credit Agreement • April 13th, 2001 • Geo Petroleum Inc • Crude petroleum & natural gas
The undersigned, TD and Associates, Inc. ("TD") and Geo Petroleum, Inc. (Geo"), agree that TD will make available to Geo a line of credit with the maximum amount available not to exceed One Hundred Thousand Dollars ($100,000) with a monthly variable simple interest rate of New York prime (as defined by the Wall Street Journal) plus two percent (prime plus 2%). The rate of interest for each month shall be determined by reference to the Western Edition of the Wall Street Journal for the first closest following day if the first day of any month is a holiday. Geo promises to make monthly interest-only payments to TD on the 7th day of each month on the then outstanding balance in full together with any then outstanding interest accrued on or before Septemer 7, 2001. Failure to make an installment of interest when due, shall permit TD to declare all principal and accrued but unpaid interest immediately due and payable by giving written notice to Geo of TD's elections to do so within five day
