interstar_8k-ex1001.htm


     

    EXHIBIT
      10.1


    CORPORATE
      LOAN AGREEMENT

    


    


    This
      Corporate Loan Agreement is made
      and entered into this 3rd day of December, 2007, by and between Kilpatrick’s
      Rose-Neath Funeral Homes, Crematorium and Cemeteries, Inc. (“Lender”) and
      International Star, Inc., a Nevada corporation (“Borrower”).

    


    For
      the mutual covenants and promises
      herein, and other good and valuable consideration, the sufficiency and receipt
      of which are hereby acknowledged as received between the parties, the parties
      have agreed as follows:

    


    
      	
               

            	
              1.

            	
              Lender
                hereby agrees to and does hereby lend to Borrower, and Borrower agrees
                to
                and does hereby borrow from Lender the sum of U.S. Five Hundred Thousand
                Dollars (U.S. $500,000) principal amount, evidenced by a corporate
                promissory note and security agreement, of even date herewith, on
                the
                following terms and conditions.

            


    

    


    
      	
               

            	
              2.

            	
              Borrower
                shall use the funds as needed from a line of credit provided by
                Lender.  Borrower agrees to repay the note on or before three
                (3) years from the date hereof, together with any accrued and unpaid
                simple interest thereon at the rate of six per cent (6%) per payable
                six
                (6) months in arrears after the date hereof, and then each ninety
                (90)
                days thereafter in arrears, with the principal and any accrued interest
                due as stated.

            


    

    


    
      	
               

            	
              3.

            	
              The
                loan shall be collateralized by, and Borrower does hereby grant a
                security
                interest to Lender in and to the said collateral of Borrower:  a
                fifty-one per cent (51%) interest in the mineral rights of all mining
                claims owned by or having an interest in now or in the future in
                the
                Detrital Wash and Wickieup properties located in Mohave County, Arizona
                along with any future claims acquired by International Star,
                Inc.

            


    

    


    
      	
               

            	
              4.

            	
              The
                note and security interest therein is assignable in whole or in part
                by
                Lender upon reasonable written notice to
                Borrower.

            


    

    


    
      	
               

            	
              5.

            	
              Borrower
                hereby represents and warrants to Lender, that Borrower has all the
                authority necessary to enter into this agreement; the officers signing
                this agreement and the note and security agreement, has all of the
                necessary corporate authority to bind Borrower to the terms and conditions
                of performance recited herein.

            


    

    


    
      	
               

            	
              6.

            	
              Any
                notices called for herein shall be deemed delivered if deposited
                in the U.
                S. Mail, with first class postage prepaid and addressed as
                follows:

            


    

    


    If
      to
      Borrower:  P. O. Box 7202, Shreveport, LA 71137

    If
      to
      Lender:  P. O. Box 26, Shreveport, LA 71161

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    
 

    
      	
               

            	
              7.

            	
              In
                the event of Borrower’s default, Lender shall be entitled to costs of
                collection to enforce the note, including reasonable attorney fees
                and
                court costs.

            


    

    


    Dated
      the
      above date.  In witness the parties have executed this
      agreement.

     

    
      	
              Borrower:  

              International
                Star, Inc. 

            	
              Lender:

              Kilpatrick’s
                Rose-Neath Funeral Homes,

              Crematorium
                and Cemeteries, Inc.

            


    

                                                     

    
      	
              /s/
                Virginia K.
                Shehee                                      

              Virginia
                K. Shehee, President 

            	
              /s/
                Margaret Shehee
                Cole                                 
                

              Margaret
                Shehee Cole, Vice President

            


    

     

    
      	/s/
              Jacqulyn B.
              Wine                                       
              
              Jacqulyn
                B. Wine, Secretary/Treasurer