Exhibit 10.11
NOTE EXTENSION AGREEMENT
Account #10202200978
This Loan Extension Agreement (hereinafter referred to as "Agreement") made and
entered into this 26th day of May, 2006, by and between Intellinetics, Inc. and
cosigners A. Michael Chretein, Matthew L. Chretein, and Robert J. D'Orazio
(hereinafter referred to as "Borrowers"), and The Delaware County Bank and Trust
Company, 110 Riverbend Avenue, Lewis Center, Ohio (hereinafter referred to as
"Lender").
WHEREAS, the Borrowers executed and delivered to the Lender a certain Promissory
Note dated March 24, 2004 for the principal sum of $201,024.00; that matured on
April 15, 2006, and has a current balance of $201,024.00, and
WHEREAS, the parties hereto desire to modify the original Note to extend the
maturity date on said Note;
NOW THEREFORE, for valuable consideration, the receipt of which is hereby
acknowledged the parties hereto agree as follows:
1. The maturity date on said Note shall be extended until April 15, 2007.
All other terms and conditions in the original Note shall remain in full force
and effect and the parties hereto agree that the only purpose of this Extension
Agreement is to change the maturity date.
IN WITNESS WHEREOF, Borrowers and Lender have executed this Agreement this 26th
day of May, 2006.
LENDER:
BORROWER:
THE DELAWARE COUNTY BANK
AND TRUST COMPANY
INTELLINETICS, INC. BY:
/s/
JAMES L. BANDEEN
BY:
/s/
A. MICHAEL CHRETEIN
JAMES L. BANDEEN
A. MICHAEL CHRETEIN, Vice
President
COSIGNERS:
BY:
/s/
A. MICHAEL CHRETEIN
A.
MICHAEL CHRETEIN
BY:
/s/
MATTHEW L. CHRETEIN
MATTHEW L. CHRETEIN
BY:
/s/
ROBERT J. D'ORAZIO
ROBERT J. D'ORAZIO