Document:

September 14, 2012

 

I, Aaron M. Riccelli, am lending Innovative
Designs, Inc the amount of $50,000 Dollars, for a period of 120 days, at an interest rate of 10%. Repayment of $55,000 interest
included will be made by January 14, 2013.

 

	/s/ Aaron Riccelli	 
	Aaron Riccelli	 
	 	 
	/s/ Joseph Riccelli	 
	Joseph RiccelliEXHIBIT 10.5

CREDIT LINE

HOLDER: ARROW CARS S.L.

C.IF. B92914282.

ADDRESS: AV. MIJAS 1, OFICINA 1. BENALMADENA. MALAGA 29630

 (hereinafter the Client)

BANKINTER  S.A.  with  address  in Paseo de la  Castellana,  29,  registered  in
Madrid's  Companys House,  in Book 1.857,  Page 220, Sheet 9643, ID Tax Number A
28157360,  represented by ANNETTE KURZYNSKI, with ID number X6047215D and PALOMA
CHAVES PALOMA with ID number 52848877Y, signing this contract the holder and the
guarantor  mentioned  and before the Notary sign this  mercantile  contract that
will be ruled by the following

CONDITIONS

1ST. - CREDIT GRANTED. -

BANK, gives the client a loan for a maximum amount of 200.000,00  EUROS.  Within
the  limit  mentioned  the  client  will use the  credit  only for the  purposes
outlined  in the  application  thereof.  Any  movement  of the  credit  will  be
reflected in a current  account  opened in the name of the client,  whose number
matches the outlined at the  beginning of this contract  empowering  the BANK to
debit in the account agreed  commissions,  fees, taxes and any amount due by the
client.

1.2. USE OF CREDIT ACCOUNT. -

The client can use and cancel the credit account. The client may do all kinds of
banking transactions with debit and credit amounts on the Bank Account.

Consequently  they can issue  postdated  checks,  set direct debits,  payment of
payrolls and any operations it deems appropriate, all prior notice to the BANK.

The client  undertake to use only the checks provided by the BANK, being obliged
to issue the same with all the  requirements  of commercial and tax  legislation
and must be written and signed with  indelible  substances.  BANK  declines  any
responsibility for damages caused if the owner had not used such substances also
obliged to keep in safe locked checks received and, in case of theft or loss, to
formalize the police reporting and immediately notify to the BANK.

The  instructions  placed  by the  client  shall  indicate  the  concept  of the
transaction,  clear and precisely, not being forced the BANK to fill orders BANK
in its view, with sufficient data to guarantee their authenticity.

The  Client  authorizes  the BANK to  charge  in his  Credit  Account  checks or
postdated  checks  accepted by the client and served by other  entities  without
necessarily  be  accompanied  by such  documents,  subject to later  delivery or
justification.

The client may accept as  authorized  signature of another  person or persons by
letter,  together with a power of attorney if the client is a legal  person,  to
use the credit  account,  for and on behalf of those  entitled  to use it.  Such
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authorizations  remain valid while the bank does not receive certified notice of
changes in the  authorization  or they would not be  registered at the Company's
House.

2ND. - CUSTOMER DATA USE. -

In accordance with current  legislation,  the CLIENT and the guarantor,  in case
there is one,  authorize the  inclusion of their data at the Bank  Databases and
its / their automated treatment for commercial and operational purposes..

The client and guarantor have right of access,  rectification  and cancellation,
and accept their data may be transferred  for commercial and management to other
companies part of the Bank Company group or serving BANK.  These  companies that
are authorized to send information in relation any goods or services marketed or
marketable, being able to be revoked this authorization at any time.

3RD. - TERM AND EARLY TERMINATION. -.

The term of this  contract is  indefinite  from the date of this  policy.  While
either party can unilaterally cancel it, giving notice to the other with 30 days
notice.

The Bank  reserves  the right to,  once the  credit is  cancelled,  prevent  the
disposal  of any  amount to the  credit  facility,  accepting  no charge on this
account,  for any reason.  This  limitation  does not affect payments and income
made  ??before  the due  expiry  has  been  communicated.  This  faculty  may be
exercised by the Bank since,  under the  preceding  paragraph,  notify the other
party the expiry date of the loan.

4TH. - INTERESTS. -

Any interests,  agreed commissions, or any other costs due by the client will be
considered  charges  in the credit  account.  It will be  considered  income any
payment into the credit account.

4.1.  The  annual  interest  rate  for the bank  will be the sum of the  initial
reference index and the differential:

Initial reference index: 0,75%

Differential interest: 2,50%

Thus the initial interest rate applicable to this loan is: 3,25%

4.2.  During the term of this  contract the reference  index is average  Euribor
over  three-months  published  daily  by the  European  Banking  Federation  for
deposits in Euros over three months,  calculated by European Banking  Federation
of the rates offered by a sample of banks for operations of similar rating Banks
and disseminated by Reuters on its Web EURIBOR.

If this  interest  rate  cease to exist or was not  possible  to  calculate  the
interest, making impossible the use of it, the new interest rate will be the new
interbank rate applicable in Spain.

In case this interest rate does not exist,  the new base rate to be applied will
consist in a basic index of  reference,  calculated  with the simple  arithmetic
average of the  preferential  interest rates  published by SA BBVA,  BSCH SA and
BANCO POPULAR S.A., or any entity  resulting from the merger or consolidation of
the same, corresponding to the previous month of the review plus three per cent.
In the absence of publication of the indexes by one of them, the  publication of
the two remaining will be used, or the remainder, in case.

4.5.  Working  days will be  considered  that have such  character in the Madrid
Interbank Market.

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4.6. In case of  variation  BANKINTER  will notify the Client the new  reference
rate,  according to the  provisions  of the previous  paragraphs,  the resulting
interest rate and its effective date by letter,  to the address provided in this
contract and / or publication in any Journal.

Also will be valid,  notification  via telephone,  fax or computer when the Bank
and the Client have agreed these communication channels.

According to the Rules 6 and 8 of Rule 8/1990 of the Bank of Spain, the Bank may
change the interest rate  applicable to this  transaction,  after complying with
the  requirements and conditions set forth in each Rule.  BANKINTER  communicate
the  reference  rate  and  date of  validity  by  letter  or by  publication  in
newspapers.

4.7. In the event the client does not accept the reference rate,  within 15 days
from  the  validity  date of the new  type,  the  client  should  let it know to
BANKINTER  and repay  principal  and interest in  accordance  with the last rate
applicable.  In case the Client does not  reimburse  to  BANKINTER  on time,  as
indicated,  BANKINTER may consider the credit  expired,  closing the account and
requiring repayment of the balance. The silence of the client during that period
shall be deemed as acceptance of the new reference rate notified by the BANK.

4.8.  If the  interest  rate will very more than once per  month,  the Bank will
notify the client once every 30 days the changes  produced  during that  period,
being the term of 15 days mentioned above counted since the validity date of the
last interest rate applicable.

4.9. The interest  will accrue  daily and be settled  following  the last day of
each quarter or the corresponding date if the credit is canceled early.

4.10. Interest shall be payable upon settlement.

4.11. The formula agreed between the parties to calculate the amount of interest
earned will be:

Interest = Principal x Revenue x term/36.000

Capital: Average balance provided during the settlement period.

Revenue: Nominal interest rate.

Term: Calendar days of the settlement period.

4.12.  According to the current  regulations  for  information is set as APR the
percentage  calculated as indicated in Annex V of the Rule 8/1990 of 7 September
Bank of Spain or later Rules that supersede or modify.

4.13.  The APR is calculated  under the assuming the total use of the credit and
does not include additional costs, which will be borne to the Client.

4.14. To determine the APR it has been used the annual  interest rate  mentioned
in clause 4.1.

4.15.  The interest  will be accrued  daily and will be settled  quarterly.  The
resulting  daily credit  balance in the account  will accrue  interest at a rate
0.00% to the client. The formula agreed for the payment of interest will be:

Interest = Capital x Yield x time/36.600 (in leap years).

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<PAGE>
5TH. - OVERDRAWN INTERESTS.-

The  lack of  payment  of the  agreed  interest,  or the  principal  of the loan
principal at maturity,  will accrue  automatically,  on the following day to the
maturity date, the current interest plus 9.50%, without further notification.

5.2. The same interest  will accrue  amounts due for  commissions,  interests or
repayment installments not paid within the time stipulated in this contract.

5.3. Such interest  shall accrue from day to day and will be settled  quarterly.
If the lack of payment  exceeds the period of 90 days,  the interest will not be
settle until the debt will be paid and the interest applicable will be those set
in this contract.

5.4. The same  interests  applies to the capital,  interest,  fees and expenses,
will  produce to the account  closed,  until  BANKINTER  will be fully repaid in
accordance with the provisions of Article 316 of the CC

5.5. Interest due and unpaid upon settlement, whether ordinary or referred to in
this clause,  shall be considered as capital increase and since then will accrue
new interests in accordance with the provisions of Article 317 CC.

6TH. - COMMISSIONS. -

As commission, the Client will pay to the Bank, the following:

- Opening  commission:  defined as the  percentage  to be applied over the total
credit granted, when the client accepts it, and for once, to be 0.5%

- Study commission: 0.00% on credit limit.

- Non Use  Commission:  defined  as the  percentage  to be  applied on the total
amount of credit not used by the client,  to be 0.25%,  over the average balance
used during the quarter.  This commission is accrued daily and is settled on the
following day to the last day of each quarter.

-  Overdrawn  Commission:  defined  as the  percentage  received  by  the  BANK,
regardless  of the agreed  interest,  over the  overdrawn  amount of the credit,
being 0.5% and settled quarterly.

- Maintenance and Administration Commission of 60.10 EUROS per year, this fee is
accrued and settled following day to the last day of each quarter.

- Commission  for renewal of 0.50% over the maximum credit  available.  The Bank
may,  on an  annual  basis,  request  the  Client  to  provide  the  appropriate
documentation to study and analyze its financial  situation.  This commission is
payable on the last day of the period of validity.

7TH. - COMPENSATION OF CREDITS AND DEBTS. -

The Client agrees to Set in favor of the bank the right to  compensate  debts of
the client with credits whatsoever,  supplemented as necessary with a mandate or
express  authorization by the Client and the guarantor given to the Bank by this
contract.  The client  authorize the Bank until the credit account will be fully
cancelled,  to apply to its capital,  interests or fees, any amounts existing in
cash exist in favor of the client or  guarantor  in all kind of  accounts in the
Bank,  even fixed  deposits,  postdated check or similar credits in favor of the
client or the  guarantor.  This  authorization  includes  the  faculty  to close

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<PAGE>
accounts,  cash  postdated  checks or similar  documents,  cancel  deposits  and
securities,  even without the title  requirement  collection or receipt that the
bank issued.

Equally the BANK is authorized to charge in the credit account, overdrafts of as
many accounts the client is holding.

8TH. - INFORMATION. -

BANKINTER will consider the address of the client and the guarantor those set in
this contract or those that have been notified by certified post to the Bank.

Although the  notifications  made by the bank in the above  mentioned  addressed
will be refused or received by third parties, they will be considered valid.

8.2.  During the term of this contract the client will provide to BANKINTER with
all the information which could affect their obligations with the Bank.

8.3.  Especially  but not  restricted to it the Bank can request from the Client
the following information:

a)  Financial  Information:  Annual  Accounts,  produced  as  per  the  Standard
Accounting principles accepted in Spain.

b) Certificate of payments and charges to third parties.

c) Facts that can affect the solvency of the client.

d) Copies of the Annual Company General Meetings.

e) Conversations about Company restructuring.

9TH. - CANCELLATION OF CONTRACT. -

Notwithstanding the agreed term, the Bank may cancel the credit early and demand
what is owed as  capital,  interest,  fees and  other  expenses  in the event of
breach  of any  of the  conditions  agreed  to in  this  contract,  which  is of
commercial nature.  Especially is cause of early termination of the contract the
lack of payment when due of any interest  settlements and commissions as well as
deposit the Client the amounts  needed for partial  redemption  when between the
parties.

The BANK,  can also  terminate  this  contract if the  solvency of the client or
guarantor,  has suffered a reduction,  especially  in the event of bankruptcy or
insolvency  proceedings of any kind. The client can replace the  cancellation of
the contract with additional security or with a new guarantor, in addition to or
instead of the existing in this contract.

10TH. - LEGAL ENFORCEMENT. -

This contract as is formalized in front of a Notary  intervention may be legally
enforced.  In order the contract to be enforced will only be necessary to submit
this contract together with appropriate certification pursuant to the provisions
of Article  517.2.5  (degree) of the Civil Procedure Act and for the purposes of
the  provisions  of Article  572,  the parties  expressly  agree that the amount
payable in case of enforcement, will be the one included in the certification to
that effect issued by the bank,  which will contain the current  account balance
once practiced the corresponding settlement, which will be certified by a Notary

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<PAGE>
Public. The certificate from the Notary must state that the balance matches with
the remaining balance in the credit account and that settlement has practiced as
agreed in this policy.

In case of  enforcement  the BANK may  choose  to claim  from all or some of the
clients or creditor as they are equally and jointly  liable for the  obligations
set in this contract.

11TH. - EXPENSES. -

The client will be responsible of all costs, fees, taxes,  duties,  fees, levies
and duties of any kind levied directly, now or in the future, for this contract.
Also the client will be responsible of all legal fees, although the intervention
of the  lawyer was  optional,  if the bank use them if the  client  breachs  the
conditions of the contract.

12TH. - GUARANTEE.-

12.1.  The  guarantors of this contract is oblige  together and jointly with the
Client to fulfill the obligations of this contract,  especially those related to
capital, interest and commissions payments.

12.2  The  client  will  notify  the  guarantor  any  changes  in the  interests
applicable, not being BANKINTER obliged to do it.

The guarantor cannot claim he is not been informed by the client of the interest
rate applicable to refuse payment.

12.3 The guarantee will be extended until the debt with the bank will be settled
in full.

13TH. - ASSIGNMENT. -

The Bank may assign to any person or Company all or any of the  rights,  actions
and obligations under this contract by notifying the assignment to the Client by
telegram addressed to the address stated in this contract .

14TH. - PARI PASSU CLAUSE. -

The client is obliged to maintain  the  creditor  position  for this credit line
during the whole term of it. In case the client will not maintain this position,
the Bank will be allowed to cancel this contract.

15TH. - GENERAL CONDITIONS. -

In accordance with the provisions of the LGCC (Law 7/98 of April 13, 1998).  The
Clauses of this contract have the status of  conditions  except those  governing
the  contract  amount,  maturity,  repayments,  interest  rate and  fees.  These
conditions have been individually negotiated with the client.

In Marbella, on the 11th of November 2009.

THE CLIENT/

ARROW CARS S.L.                                        BANK (PP)

PP. JEREMY DEAN HARRIS                                 ANNETTE KURZYNSKI

THE GUARANTOR/JEREMY DEAN HARRIS                       PALOMA CHAVES PALOMA

Signature and seal                                     Signature and notary seal

                                       6

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