BOVD » Topics » Interest Rate . Interest shall accrue on the principal amount of this note at a rate of Twelve percent (12%) per annum. 2.

This excerpt taken from the BOVD 8-K filed Sep 28, 2007.

Interest Rate.  Interest shall accrue on the principal amount of this note at a rate of Twelve percent (12%) per annum.


2.

Payment Terms.  Maker shall pay to Holder a) five (5) monthly installments of $500.00 on the 5th day of each month beginning on August 5, 2007 and ending on December 5, 2007; and b) all outstanding principal and accrued interest on the Maturity Date (defined below); provided, however, that at such time as the Maker receives one or more debt or equity investments at any time after the date first written above, the Maker shall pay to Holder the lessor of i) all outstanding principal and accrued interest of this Note at the time of any such investment; or ii) 100% of such investment(s) until the principal and interest have been paid in full.  All outstanding principal and accrued interest of this Note shall be due and payable on the Maturity Date.  


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