Exhibit 10.2

 

Short-term Note Agreement

 

SHORT-TERM NOTE

 

THE INDEBTEDNESS EVIDENCED BY THIS AGREEMENT HAS NOT BEEN REGISTERED UNDER THE
SECURITIES ACT OF 1933, AS AMENDED, OR ANY STATE SECURITIES LAWS. LOANS MADE BY
INVESTORS MAY NOT BE TRANSFERRED UNLESS SO REGISTERED OR UNLESS AN EXEMPTION
FROM SUCH REGISTRATION IS AVAILABLE. ADDITIONAL RESTRICTIONS ON TRANSFER OF THE
DEBT IS SET FORTH IN THIS SHORT-TERM LOAN AGREEMENT AND IN THE CONFIDENTIAL
PRIVATE PLACEMENT MEMORANDUM PURSUANT TO WHICH THE FUNDS WILL BE ISSUED.

 

SHORT-TERM LOAN AGREEMENT

 

SHORT-TERM LOAN AGREEMENT dated December 28, 2009 (this “Agreement”) between
Home School Holdings, Inc., a Florida corporation (the “Company”), and the
Borrower whose name appears on the signature page hereof (the “Borrower”).

 

BACKGROUND

 

Company desires to lend, and the Borrower desires to borrow, funds to exercise
options held by the Borrower upon the terms and conditions contained herein.

 

NOW, THEREFORE, in consideration of the mutual promises and covenants contained
herein and for other good and valuable consideration, the receipt and
sufficiency of which is hereby acknowledged, the parties hereto, intending to be
legally bound, agree as follows:

 

 

1.

LOAN FUNDS.

 

Company hereby lends to the borrower the amount of funds (the “Funds”) set forth
on the signature page hereof.

 

 

2.

TERMS

 

(a)           The term of the loan is six months.

 

(b)           The annual interest rate shall be 5%, paid in arrears at maturity.

 

(c)           Repayment shall be made in cash or shares. If paid in shares, each
share is valued at the then current market price or $0.033, whichever is
greater.

 

 

3.

MISCELLANEOUS.

 

(a)           This Agreement and the rights and obligations of the parties
hereunder shall be interpreted in accordance with the laws of the State of
Illinois without reference to its conflict of law rules.

 

 

CONFIDENTIAL

Loan Agreement

 

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(b)           This Agreement may be executed in any number of counterparts, each
of which shall be deemed an original, but the several counterparts together
shall constitute but one and the same instrument.

 

(c)           Insofar as possible, each provision of this Agreement shall be
interpreted so as to render it valid and enforceable under applicable law and
severable from the remainder of this Agreement. A finding that any such
provision is invalid or unenforceable in any jurisdiction shall not affect the
validity or enforceability of any other provision or the validity or
enforceability of such provision under the law of any other jurisdiction.

 

(d)           Each of the parties agrees to execute all such further instruments
and documents and to take all such further action as the other party may
reasonably require in order to effectuate the terms and purposes of this
Agreement.

 

(e)           For purposes of this Agreement, singular terms include the plural
and vice versa and any pronoun of one gender includes the other gender or the
neuter.

 

 

IN WITNESS WHEREOF, the parties hereto have executed and delivered this
Agreement on the date first above written.

 

Borrower

HOME SCHOOL HOLDINGS, INC.

 

 

____________________________

By:_____________________________

Signature

 

____________________________

Its:_____________________________

Printed Name

 

Loan: $______________________

Accepted as to $___________________

 

 

________________________________

 

Date

 

2

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