Unassociated Document


    

  FORM
    OF LINE OF CREDIT GRID NOTE

       

      
        
          	
                  Maximum
                    Principal Amount: $4,000, 000

                	
                   Date:
                    July 9, 2007

                


        

      

       

      FOR
        VALUE
        RECEIVED, the undersigned, Versadial, Inc. (formerly known as Carsunlimited.com,
        Inc.), a Nevada corporation (the “Borrower”), HEREBY PROMISES TO PAY to
        the order of Fursa Alternative Strategies, LLC, a Delaware limited liability
        company (the “Lender”), at its principal office located at 200 Park
        Avenue, 54th floor, New York, New York, 10166, or at such other address as
        it
        may direct, in lawful money of the United States and in immediately available
        funds the aggregate unpaid principal amount of all Advances made to the Borrower
        by the Lender, plus interest thereon from the date of each such Advance on
        the
        unpaid principal amount of such Advance, in like money, at said office, at
        a
        rate per annum equal to the Interest Rate defined in the Secured Line of
        Credit
        Agreement dated February 1, 2007, as amended on July 9, 2007 between the
        Lender
        and the Borrower (in its original form and as it may be hereafter amended
        or
        otherwise modified, the “Agreement”). As provided in the Agreement,
        Interest Payments shall be due on the first day of each and every month from
        the
        date hereof until the Maturity Date, as defined in the Agreement, when the
        entire aggregate unpaid principal amount of all Advances, plus unpaid by
        accrued
        interest thereon shall be due and payable. Any amount of principal hereof
        which
        is not paid when due, whether at stated maturity, by acceleration, or otherwise,
        shall bear interest from the date when due until said principal amount is
        paid
        in full, at a rate per annum equal at all times to the applicable interest
        rate
        set for such Advance plus 400 basis points (4%). 

       

      The
        Borrower hereby authorizes the Lender to endorse on the Schedule annexed
        to this
        Line of Credit Grid Note (this “Note”) the principal amount of all
        Advances made to the Borrower, the interest rate for each such Advance, and
        all
        payments of principal amounts in respect of such Advance, which endorsements
        shall, in the absence of manifest error, be conclusive as to the outstanding
        principal amount of all Advance and the interest rates thereon; provided,
however, that the failure to make such notation with respect to
        any interest rate of an Advance, or payment shall not limit or otherwise
        affect
        the obligations of the Borrower under the Agreement or this Note.

       

      If
        any
        payment hereunder or under the Note becomes due and payable on a day other
        than
        a business day, the maturity thereof shall be extended to the next succeeding
        business day; provided, however, that if the date for any payments
        of interest is extended as provided hereunder or by operation of law or
        otherwise, interest shall continue to accrue and be payable at the then
        applicable rate during such extension.

       

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

       

      This
        Note
        is the Note referred to in the Agreement. Terms used herein which are defined
        in
        the Agreement shall have their defined meanings when used herein. This Note
        is
        secured by first priority lien and security interest in the Collateral defined
        in the Agreement, reference to which is hereby made for a description of
        the
        Collateral provided for under such Agreement and the rights of the Borrower
        and
        the Lender with respect to such Collateral.

       

      This
        Note
        shall be governed by the laws of the State of New York, provided that, as
        to the
        maximum rate of interest which may be charged or collected, if the laws
        applicable to the Lender permit it to charge or collect a higher rate than
        the
        laws of the State of New York, then such law applicable to the Lender shall
        apply to the Lender under this Note.

       

      
        	 	 	 
	 	Versadial,
                Inc.
	 	a
                Nevada corporation
	 
 	 
 	 
 
	 	By:  	
                 

                
                  

                

              
	 	Name:	 

                

              
	 	Title: 	 
                
                

              


         

        
          
            
            

          

          
            
            

            
              

            

          

          
            
            

          

        

      

       

      SCHEDULE TO
        LINE OF CREDIT GRID NOTE

      

        
          	
                   

                   

                   

                  Date

                	
                   

                	
                   

                	
                  Amount

                  of
                    
Advance

                	
                   

                	
                   

                	
                  Interest

                  Rate

                	
                   

                	
                   

                	
                  Amount
                    
of

                  Principal

                  Prepaid

                	
                   

                	
                   

                	
                  Unpaid
                    
Principal 
Balance of 
Line of 
Credit Grid
                    
Note

                	
                   

                	
                   

                	
                  Name
                    of Person 
Making Notation

                	
                   

                	
                   

                	
                  Initials
                    
of

                  Such
                    
Person