Document:

Filed by Automated Filing Services Inc. (604) 609-0244 - Bark Group Inc. - Exhibit 10.10

 

 

 EXHIBIT 10.10

	
August 17, 2007
		 CONFIDENTIAL 

Mr. Jesper Svane, Board Member

Bark Corporation A/S

Soelvgade 10, 5th Floor

1307 Copenhagen K

  Denmark

Dear Jesper,

In accordance with our most recent discussions regarding your company’s desire to secure additional capital (the “Funds”) up to $10 million, this letter agreement (the “Agreement”) shall serve as our full and complete
understanding relative to your engagement of our firm, PacificWave Partners Limited (“PacificWave”), as financial advisors to Bark Corporation (the “Company”).  The Company acknowledges that the Funds may be provided through
investments consisting of, without limitation, one or more of the following:  convertible debt, secured debt, warrants, equity or preferred equity (each, an “Investment”).  It is expected that PacificWave’s investors will make their
Investment into the Company at a minimum of $3.50 per share based upon the proposed structure prepared by DeBondo Capital Inc., representing an approximate pre-money valuation of $53 million and post-money valuation of approximate $63
million assuming a $10 million capital infusion. It is anticipated that the common shares of the Company will begin trading on the OTC Bulletin Board at $5.00 per share representing a market capitalization of $90 million.

In consideration of the mutual representations, warranties and covenants contained herein, and other good and valuable consideration, the sufficiency of which is hereby acknowledged, PacificWave and the Company hereby agree to the following terms
and conditions:

Role of PacificWave Partners Limited and Independent Contractor Status

1. The Company hereby engages PacificWave as its exclusive financial advisors to facilitate introductions to one or more persons, partnerships, corporations or other entities or groups, satisfactory to the Company, who would be interested in
entering into a Transaction with the Company, as well as such other consultants and/or professionals as may be necessary or appropriate in effecting a Transaction. A “Transaction” shall mean the payment of Funds to the Company by way of
any Investment or Investments. The Company shall have the absolute right to refuse to consummate a Transaction for any reason or no reason. The Company acknowledges and agrees that PacificWave and its officers, directors, employees, agents and
representatives are not acting as an agent or 

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broker of the Company or otherwise acting in a fiduciary capacity on behalf of the Company and are acting solely as an independent contractor.  PacificWave and its officers, directors, employees, agents, and representatives shall not be empowered to
act for or bind the Company to any contractual arrangement with any third parties.  The Company acknowledges and agrees that PacificWave will introduce potential investors to the Company, but will not solicit any Transaction, participate in the
negotiation or execution of any Transaction or advise on the merits of any Transaction.

Term of Engagement

2. The term of this Agreement shall be for a period of 36 months (the “Term”) commencing from the date that PacificWave receives a copy of this Agreement executed by the Company. PacificWave shall be the exclusive financial advisors to the
Company during the Term.  Thereafter, this Agreement shall renew automatically for successive terms of 12 months (each, a “Renewal Term”) unless either party shall give twenty (20) days’ written notice of termination to the other
party before the commencement of any Renewal Term. Any termination of this Agreement pursuant to this paragraph 2 shall be without liability of any character (including, but not limited to, loss of anticipated profits or consequential damages) on
the part of any party thereto, except that the Company shall remain obligated to pay all fees and expenses provided to be paid by it specified in paragraphs 3, 4, 5 and 6 of this Agreement. The Agreement can be terminated with 6 month notice by
the company during the full term of engagement. If the financial targets mentioned in first paragraph (top of page 1) in this Agreement have not been achieved by PacificWave before June 1st 2008, the contract is to be
considered null and void from that date. In such event the company will only pay approved invoices to date.

Introductions

3. Prior to the introduction of the Company to any particular investor or investors, PacificWave will provide the investor’s name or investors’ names (each, a “Named Investor”) to the Company for approval by the Company. The
Company agrees, for the purpose of introduction only, to accept every potential Named Investor except where the Company has already been introduced to a Named Investor or where the Company in good faith believes that the Company’s
reputation may be harmed by entering into a Transaction with the Named Investor. If the Company does not provide its approval or rejection of a Named Investor within 72 hours of the disclosure of the identity of that Named Investor, then such
inaction shall be deemed an approval for the purpose of the introduction only, of that Named Investor by the Company.

PacificWave Compensation

4. (a) As partial consideration for the services to be provided by PacificWave under this Agreement, the Company shall pay, upon receipt of Funds by the Company 

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from a Transaction, whether such Transaction was closed during the Term, a Renewal Term or within two (2) years from the termination of this Agreement, with any Named Investor introduced to or caused to be introduced to the Company by PacificWave, a
cash fee of ten percent (10%) (the “Cash Fee”) of the gross value of such Transaction. The Company agrees to wire to PacificWave the Cash Fee within forty-eight (48) hours of receipt of such Funds by the Company.

     (b) In the event that all or a portion of the consideration paid in a Transaction is other than cash, then the value of such non-cash consideration shall be deemed to be the fair market value of such non-cash
consideration on the date such Transaction is consummated. In the event the Company refers an investor or investors to PacificWave during the Term or a Renewal Term and such investor or investors subsequently participate in a Transaction,
PacificWave shall be paid fifty percent (50%) of the Cash Fee calculated in accordance with paragraph 4 of this Agreement.

     (c) The Company agrees to maintain the confidentiality of each Named Investor, except as required by applicable law. For a period of two (2) years from the termination of this Agreement, the Company will not solicit or
enter into any Transaction with any Named Investor without the written consent of PacificWave and payment to PacificWave of compensation of no less than the compensation that PacificWave would have received pursuant to the terms of this
Agreement.

 5.  (a) As partial consideration for the services to
  be provided by PacificWave under this Agreement, the Company shall issue to
  PacificWave, within ten (10) days of the closing of any Transaction, share purchase
  warrants (the “Warrants”) entitling PacificWave to purchase such number
  of shares of the Company’s common stock which is equal to the number resulting
  from multiplying ten percent (10%) times the gross value of the Transaction
  and then dividing that number by the closing bid price of the Company’s
  common stock on the day of the closing (the “Closing Bid Price”).
  The Warrants shall be exercisable for a period of five (5) years at an exercise
  price (the “Warrant Exercise Price”) which is equal to (i) the lowest
  warrant exercise price of any warrants issued to any Named Investor in the Transaction,
  or (ii) in the event no warrants are issued to any Named Investor in the Transaction,
  the Closing Bid Price. 

     (b) The number of shares issuable upon exercise of such Warrants and the Warrant Exercise Price shall be adjusted for recapitalizations, stock splits, and similar capital changes during the exercise period of the
Warrants. The terms and conditions of the Warrants shall include weighted average anti-dilution protection (subject to exceptions for any shares issuable pursuant to options or other convertible securities outstanding on the date of the closing of
any Transaction, as well as for options or other stock-based compensation or incentives that may be reasonably granted to directors, officers and employees pursuant to any stock incentive plans).

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     (c) These Warrants shall be divisible, assignable and transferable, at the sole discretion of PacificWave, provided that PacificWave complies with the provisions of the Securities Act of 1933, the rules and regulations
promulgated thereunder, and any other applicable securities laws. In conjunction to any Transaction, the Company agrees to register the underlying common stock issuable upon exercise of any and all Warrants issued to PacificWave in the same
registration statement, if any, covering the resale of any securities in the Transaction at no cost to PacificWave.

6. In consideration of PacificWave agreeing to enter into this Agreement, the Company further agrees to pay PacificWave a non-refundable cash engagement fee of $25,000 (the “Engagement Fee”). The Engagement Fee shall be credited
against the Cash Fee.  The Company agrees to wire to PacificWave the Engagement Fee upon good receipt of funds from the contemplated employee stock offering to be completed by early September 2007.

Additional or Future Transaction(s) by Investor(s)

7. In the event any Named Investor successfully completes a Transaction subject to the terms of this Agreement, and the same Named Investor completes another Transaction or is a participant in another Transaction with the Company within two (2)
years from the termination of this Agreement, the Company shall pay PacificWave a ten percent (10%) cash fee on any and all Funds received by the Company or on the portion of Funds contributed by such Named Investor if part of a group or syndicate
of investors. Both parties shall negotiate additional warrant coverage for PacificWave in good faith. 

Company Representations and Warranties

8. In order to induce PacificWave to enter into this Agreement, the Company hereby represents and warrants to and agrees with PacificWave as follows:

     (a) All information provided by the Company to PacificWave or to any Named Investor regarding the Company is true and does not omit any material fact necessary to make such information, in light of the circumstances
under which it was delivered, not misleading. If during the Term, any event occurs, or any event known to the Company relating to or affecting the Company shall occur, as a result of which the information provided to PacificWave or to any Named
Investor becomes incorrect or misleading, the Company shall inform PacificWave and any Named Investor of such occurrence within a reasonable period of time. PacificWave and its officers, directors, employees, agents and representatives shall have no
responsibility for any information supplied by or on behalf of the Company to any Named Investor, and the Company shall not represent to any person or entity that PacificWave and/or its officers, directors, employees, agents and representatives have
assumed such responsibility.

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     (b) The execution and delivery of this Agreement, and the consummation of the transactions herein contemplated, and compliance with the terms of this Agreement will not conflict with or result in a material breach of
any of the terms, conditions or provisions of, or constitute a default under, the Articles of Incorporation or By-Laws of the Company (in any respect that is material to the Company), any material note, indenture, mortgage, deed of trust, or other
agreement or instrument to which the Company is a party or by which the Company or any property of the Company is bound, or to the best of the Company's knowledge, any existing law, order, rule, regulation, writ, injunction or decree of any
government, governmental instrumentality, agency or body, arbitration tribunal or court, domestic or foreign, having jurisdiction over the Company or any property of the Company, which breach would have a material adverse effect on the business or
financial condition of the Company.

     (c) The Company is duly formed, validly existing and in good standing as a corporation under the laws of its jurisdiction of incorporation. The execution and delivery by the Company of this Agreement have been duly
authorized by all necessary action, and this Agreement is the valid, binding and legally enforceable obligation of the Company, except as enforcement may be limited by general principles of equity and by bankruptcy and other laws affecting
creditors' rights generally

     (d) All offerings of securities by the Company shall be conducted in compliance with all applicable laws, including but not limited to federal, state and other applicable securities laws. 

Mutual Indemnification

9. The Company agrees to indemnify and hold harmless PacificWave and each of its officers, directors, employees, agents and representatives against any losses, claims, damages or liabilities, joint or several, for which PacificWave or its officers,
directors, employees, agents and representatives may directly or indirectly become liable in connection with or arising out of the advisory services that are governed by this Agreement or the offering or sale of securities of the Company.
Furthermore, the Company shall reimburse any legal or other expenses reasonably incurred by PacificWave and its officers, directors, employees, agents and representatives in connection with investigating or defending against any loss, claim, damage
or liability or any action in respect thereof. Notwithstanding anything to the contrary contained herein, the Company shall not be liable hereunder for any loss, claim, damage or liability resulting from intentional wrongdoing, recklessness, bad
faith or gross negligence of PacificWave and its officers, directors, employees, agents and representatives.  The indemnity agreement in this paragraph 9 shall, upon same terms and conditions, extend to and inure to the benefit of each person, if
any, who may be deemed to control PacificWave and to its officers, directors, employees, agents and representatives and shall survive the termination of this Agreement.

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10. PacificWave agrees to indemnify and hold harmless the Company and its officers, directors, employees, agents and representatives against any losses, claims, damages or liabilities, joint or several, for which the Company or its officers,
directors, employees, agents and representatives may directly or indirectly become liable in connection with or arising out of the advisory services that are governed by this Agreement. Furthermore, PacificWave shall reimburse any legal or other
expenses reasonably incurred by the Company and its officers, directors, employees, agents and representatives in connection with investigating or defending against any loss, claim, damage or liability or any action in respect thereof.
Notwithstanding anything to the contrary contained herein, PacificWave shall not be liable hereunder for any loss, claim, damage or liability resulting from intentional wrongdoing, recklessness, bad faith or gross negligence of the Company and its
officers, directors, employees, agents and representatives.  The indemnity agreement in this paragraph 10 shall, upon same terms and conditions, extend to and inure to the benefit of each person, if any, who may be deemed to control the Company and
to its officers, directors, employees, agents and representatives and shall survive the termination of this Agreement.

Covenants and Obligations of Company

11. The Company shall make available to PacificWave all information concerning the business, assets, operations and financial condition of the Company which PacificWave reasonably requests in connection with the performance of its services under
this Agreement.  PacificWave may rely upon the accuracy and completeness of such information without independent verification.

12. In connection with the services to be provided by PacificWave under this Agreement, PacificWave may receive from the Company information relating to the Company which is of a confidential and proprietary nature (the "Proprietary
Information"), which may include (without limitation) trade secrets, know-how, designs, formulas, processes, data and information regarding the Company's personnel, plans, operations, customers, prices, costs or financial condition. Except
for appropriate actions related to its activities under this Agreement by PacificWave and its employees, PacificWave shall not permit any other person to use the Proprietary Information or disclose to any other person any of the Proprietary
Information, except with the prior written consent of the Company. PacificWave shall ensure that the confidentiality of the Proprietary Information is maintained by its employees, contractors, affiliates and agents. Upon termination of this
Agreement, any Proprietary Information possessed by PacificWave, including duplicates, shall be destroyed or delivered to the Company and shall not be retained, furnished or communicated to any third party in any form.  The foregoing obligations
shall not apply to disclosures of Proprietary Information required by court order or applicable laws or to information which, through no wrongful act or inaction or any breach on the part of PacificWave, has become generally known or available to
the public, has been furnished to PacificWave by a third party as a matter of 

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right and without restriction on such disclosure, or has been developed independently by PacificWave.

Arbitration

13. The Company and PacificWave agree that any dispute arising out of or in connection with this Agreement shall be resolved solely by confidential binding arbitration in San Francisco, California according to the then current commercial arbitration
rules of JAMS. Each party shall bear its own attorneys’ fees, expert witness fees, and costs in connection with such arbitration. This Agreement has been negotiated and drafted by each party, with counsel from each party reviewing the document.
The language in this Agreement shall be construed as to its fair meaning and not strictly for or against any party. This Agreement, and any dispute arising hereunder, shall be governed by California law, without giving effect to any choice of law or
conflict of law provision or rule that would cause the application of the laws of any jurisdiction other than California.

Governing Law

14. This Agreement shall be governed by the laws of the State of California; without regard to its conflicts of law provisions.

Attorney’s Fees

15. If any party to this Agreement brings an action directly or indirectly based on this Agreement, the prevailing party shall be entitled to reasonable expenses therefor, including but not limited to, attorney’s fees and court costs.

Assignment

16. This Agreement and the rights and obligations of the parties hereto shall bind and inure to the benefit of any successor or successors of the Company by reorganization, merger, consolidation or otherwise and any assignee of all or substantially
all of its business and properties.  Subject to the Company’s prior approval in writing, PacificWave shall have the right to assign its rights under this Agreement to any person or entity as specified in writing with notice of assignment sent
to the Company by mail and/or facsimile.

Notices

17. Any notice required or permitted to be given to any of the parties to this Agreement will be in writing and may be given by prepaid registered post, electronic facsimile transmission or other means of electronic communication capable of
producing a printed copy to the address of such party first above stated or such other address as any 

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party may specify by notice in writing to the other parties and any such notice will be deemed to have been given and received by the party to whom it was addressed if mailed, on the third day following the mailing thereof, if by facsimile or other
electronic communication, on successful transmission, or, if delivered, on delivery; but if at the time of mailing or between the time of mailing and the third business day thereafter there is a strike, lockout, or other labour disturbance affecting
postal service, then the notice will not be effectively given until actually delivered.

Authorization

18. Each of the undersigned parties, respectively, hereby represents and warrants that he/she is duly authorized to execute this Agreement and that this Agreement, when executed, shall become a valid, binding and legally enforceable obligation,
enforceable in accordance with the terms and conditions set forth herein, except as may be limited by general principles of equity and by bankruptcy and other laws affecting creditors’ rights generally.

Entire Agreement, Modifications and Waivers

19. This Agreement sets forth the complete terms and conditions between the parties with respect to the subject matter hereof, and may not be amended except in another written document executed by all of the parties.  All prior and contemporaneous
conversations, negotiations, possible and alleged agreements, representations, warranties and covenants concerning the subject matter hereof are merged herein.  Waiver of or failure to exercise any rights provided by this Agreement in any respect
shall not be deemed a waiver of any further or future rights.

Execution

20. This Agreement may be executed in any number of counterparts each of which shall be enforceable against the parties executing such counterparts, and all of which together shall constitute a single document. Except as otherwise stated herein, in
lieu of the original documents, a facsimile transmission or copy of the original documents shall be as effective and enforceable as the original.

Construction

21. This Agreement shall be fairly interpreted in accordance with its terms and without any strict construction in favor of or against either party. Any ambiguity shall not be interpreted against the drafting party.

Further Assurances

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22. The parties will execute and deliver all such further documents, do or cause to be done all such further acts and things, and give all such further assurances as may be necessary to give full effect to the provisions and intent of this
Agreement.

Currency

23. Unless otherwise provided, all dollar amounts referred to in this Agreement are in lawful money of the United States of America.

Number and Gender

24. All references to any party, whether a party to this Agreement or not, will be read with such changes in number and gender as the context or reference requires. When the context hereof makes it possible, the word “person” appearing in
this Agreement includes in its meaning any firm and any body corporate or politic.

Set-Off

25. The obligation of the Company to make all payments hereunder will be absolute and unconditional and will not be affected by any circumstance, including, without limitation, any set-off, compensation, counterclaim, recoupment, defence, or other
right which the Company may have against PacificWave, or anyone else for any reason whatsoever.

Please confirm that the foregoing is in accordance with your understanding by initialing each page in the lower right hand corner, and signing and dating this letter in the spaces provided below, and faxing a copy to our Los Angeles telefax no.
(240) 220.6348.

Sincerely, 

PACIFICWAVE PARTNERS LIMITED 

/s/ Henrik Rouf

Henrik Rouf

  Managing Director

The foregoing has been read, understood and approved:

BARK CORPORATION

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	By:/s/Bent Helvang 	Dated: 17/08/07
	Bent Helvang 	  
	Chairman of the Board 	  
	  	  
	  	  
	  	  
	  	  
	By: /s/ Klaus Aamann 	Dated: 17/08/07
	Klaus Aamann 	  
	Chief Executive Officer and 	  
	Board Member 	  
	  	  
	  	  
	  	  
	By: /s/ Jesper Svane 	Dated: 17/08-07
	Jesper Svane 	  
	Board Member 	  

 50 California Street – Suite
  1500

  San Francisco, CA 94111

  Tel: (415) 439 5272

  Fax: (415) 439 5299

  www.pacificwavepartners.comFiled by Automated Filing Services Inc. (604) 609-0244 - Bark Group Inc. - Exhibit 10.11

     EXHIBIT 10.11 

Conditions for disbursement of the loan 

The following conditions must be met before disbursement and we
must approve the contents of the specified documents. 

Upon disbursement of the FlexLån® offered the agreement
concerning interest adjustment and term must be returned, duly signed. 

The most recent accounts – 2006 and 2007 budget for the
Østergade 17-19 and Østergade 15 owners’ associations – with minutes of the most
recent general meeting. 

Property tax assessment for 2007 

Statutes of the Østergade owners’ association. 

Finally registered deed without legal notes to the new
owner(s). The deed must give entitlement to loans of the amount offered. 

Documentation in respect of persons with signing power. This
may, for example, take the form of a signature transcription, no more than 3
months old, from the Danish Commerce and Companies Agency, an I/S contract or
copy of statutes and general meeting minutes. 

Signed declaration concerning annual presentation of
internal/annual accounts with specifications for the use of Realkredit Danmark’s
credit control, which is required under the EU’s capital requirement directive.

Seniority ranking 

  	1st mortgage: 	encumbrance registered as pledge-forming 	10,000 DKK 
	2nd mortgage 	encumbrance registered as pledge-forming-index
        reg. 	100,000 DKK 
	3rd mortgage 	mortgage deed registered to the mortgagor 	50,000 DKK 
	4th mortgage 	New loan no. 1 	14,900,000 DKK 

Other loans or liabilities on the property must either be
redeemed or provide for a new loan 

The property covers the following land register numbers 

	14 	Øster Kvarter, Copenhagen 	owner-occupied flat 	9 
	15 	Øster Kvarter, Copenhagen 	owner-occupied flat 	8 

Things you need to know 

A fee for land register notification of DKK 175 will be charged
in connection with the disbursement payment. 

Please note that SKAT has changed the procedure for
transferring the registration charge. For transferring the registration charge
there is now a requirement for the new mortgage deed to be signed, before the
“old one” can be redeemed. The other conditions in this respect continue to
apply. 

The time limit for disbursement of the loan is 11.03.2008. 

The calculations in this offer are provisional. We shall
conduct further calculations when we pay out the loan. 

For most loans we can offer to freeze the rate of both the
disbursement of the new loan and redemption of the old Realkredit Danmark loan.
You can read about what it means to conclude a fixed rate agreement in our
information leaflet entitled “Loan types and commercial conditions”. For charges
see applicable 

charges. You are also most welcome to contact us if you want to find out more about the opportunities of concluding a fixed rate agreement. 

We refer to the enclosed Terms and Conditions for Realkredit Danmark’s bond dealing and point out that these will apply to all future securities transactions in connection with the present loan offer. 

FlexLån® is a non-callable loan. This means that you can normally only redeem the loan with bonds. In December before an interest adjustment you will also only be able to redeem the loan if the refinancing amount is redeemed by 30.11. In
the year before an interest adjustment you have special opportunities to redeem. See the information leaflet “The FlexLån® small print” 

Under FlexLån® you must sign an “Agreement concerning the loan’s interest adjustment and term”. This does not have to be registered but is still used as a basis for what we write in the registered mortgage deed. 

Read about the special conditions applying to FlexLån® in the section “Information about the loan” and the information leaflet “The FlexLån® small print”. 

If you later redeem the cash loan offered, you may accrue a taxable rate gain. 

REALKREDIT 
Danmark

	Loan offer 	  
	  	  
	               
                         
         11th September 2007 	  
	  	  
	Customer: 	Mortgage number 
	               
                         
         K2mediagroup A/S 	      1310.4746 
	Property: 	Case number 
	               
                         
         Lille Kongensgade 16,3 	      03-01-1 
	               
                         
         1074 Copenhagen K 	  
	               
                         
         Land Reg. no. Øster Kvarter, Copenhagen, owner-occupied flat
      9 (and others) 	 
	  	  
	Your adviser 	  
	               
                         
         Realkreditkontor, Copenhagen, Bremerholm 31, 1069 Copenhagen
      K 	 
	               
                         
         Telephone 45 12 56 30 	  

	Change of
      ownership – Office/company, loan in DKK 

	  	  	  	  	1st year’s payment 	Cash interest 
	No. 	Loan
      type 1) 	Principal 	Term
      2) 	before
      tax 3) 	Repayment form4) percent 3) 
	1 	FlexLån® 	14,900,000 	30 years 	765,887 	bullet/ann 	4.5964 
	  	F1K 	  	  	  	4 sett. dates 	  

Read about the price, terms and conditions on the following
pages 

	Conditions for disbursement of the loan 	page 2 
	Things you need to know 5) 	page 2 
	Information about the loan 	page 4 
	Other comments 6) 	page 7 
	Repayment of the loan 	page 8
  

	Notes to this page
    

	 	1) 	
      FlexLån® is a cash loan. The type offered has a full
      interest adjustment every year.

	 	2) 	
      For more information about the term see the section on
      “Information about the loan”.

	 	3) 	
      1 year’s payment before tax and the cash interest
      percentage is estimated. See the section on “Information about the
      loan”.

	 	4) 	
      The loan changes the repayment form during the term of
      the loan – see the section on “Information about the loan”.

	 	5) 	
      Information, which we think is of particular importance
      for you.

	 	6) 	
      Information which may be important to
  you.

REALKREDIT 
Danmark

Information about the loan 

	Loan principal
      in DKK 

	  	New
      loan 
	Principal 	14,900,000 
	Market value 	14,900,000 
	Costs 	-258,800 
	Proceeds of the new loan 	14,641,200 
	  	  
	1st year’s monthly payment before tax 	63,824 
	1st year’s monthly payment after
      tax 	47,868 
	Net present
      value of total payments 	14,868,267 

The figures in the schedule are estimated. We will clarify the
figures in the following section. You should be aware that the estimated
proceeds may be less due to price fluctuations, for example, endorsements on
advance ranking of mortgage deeds, payment of loan on guarantee and if you enter
a fixed rate agreement. 

The first year’s monthly payment before and after interest is
calculated on an average for the period 11.09.2007 to 10.09.2008. 

We have used a discount rate of 3.92% per annum in the
calculation of the net present value 

	Information about the new loan in DKK 	 
    	 
    	 
    	 
    
	  	  	  	  	Bond 	  	Actual 
	No. 	Loan
      type 	Principal 	Offer
      price 	principal 	Market
      value 	int.
      pct. 
	1
    	FlexLån® 	14,900.000 	99.260 	15,011,117 	14,900,000 	5.24 

We reserve the right however to adjust the principal if the
price of the bonds on the disbursement date has fallen 7 or more price points in
relation to the price on the offer date. 

The offer price is the bond price we used in the calculation of
the new loan. 

The calculations are based on the loan being disbursed on
11.09.2007. You may choose when the loan is to be paid within the disbursement
period allowed. 

We assume in the calculations that the interest level has not
changed compared to now. 

Interest adjustment profile: 100% interest adjustment every
year. 

	The loan
      is basically funded from the sale of these bonds in kroner: 
	  	  	Bond 	Bond interest 	  	  	  
	Year 	Fund code 	principal 	percentage 	Offer
      price 	market value 	price
      date 
	2008 	0927597 	25,687 	4.00 	99.710 	         25,613
    	10.09.2007 
	2009 	0927600 	14,985,430 	4.00 	99.259 	14,874,387 	10.09.2007 
	Total 	  	15,011,117 	  	99.260 	14,900,000 	  

The interest is adjusted with effect from 01.01. in each case –
for the first time on 01.01.2009. Subsequently the loan will be subject to
interest adjustment every year. You can change the interest adjustment profile
here if you wish. With every change in the interest adjustment profile you will
be required to sign a new agreement concerning the loan’s interest adjustment
and term. 

If the loan is paid out after 30.11.2007, we will only sell
bonds in 2009. 

The offer price of 99.260 is calculated as a weighted price on
the basis of the bond principals in the individual years 

The prices in the individual years are 0.1 price points below
the last quoted official prices for “all deals” on the Copenhagen Stock
Exchange. The final prices will be adjusted in the same way when we pay out the
loan. 

If you have the loan paid out before 30.11.2007 it may be
necessary to make a small interest adjustment on the loan on 01.01.2008. This
will depend on the price of the 2-year bonds at the time of disbursement. 

If the disbursement price of the 2-year bonds is over 100, we
will only sell bonds in this year. This means that it will be necessary on
01.01.2008 to make a small interest adjustment on the loan. You will see the
anticipated refinancing amounts in the section entitled “Repayment of the loan”
in the loan offer. The interest and payment will change according to the slight
interest adjustment. 

If the disbursement price of the 2-year bonds is below 100,
there will be no slight interest adjustment to the loan on 01.01.2008. Instead a
small number of bonds will be issued during the year with relatively short
terms. 

The cash interest and the actual interest are calculated on the
basis of the offer price and the number of bonds in the above-mentioned
schedule. The cash interest, payments and bond principals change on every
interest adjustment. 

The cash interest is calculated on the basis of bonds with an
annual creditor settlement period. 

The loan’s effective interest rate after tax is 3.92% per
annum. 

The obligations we are to sell are non-callable bullet bonds in
series 10S, Realkredit Danmark A/S 

It may be necessary to pay out the loan in a different fund
code than that quoted. The fund code may be in the same series or a different
series from that quoted. This will depend on which fund code and series is open
for disbursement. If we change the standard interest in relation to the offered
rate, we will pay out the loan at the new standard interest. 

The loan is repaid as a bullet loan until 31.12.2016. After
that the loan will be paid back applying the annuity principle. If the loan is
disbursed after 30.11.2007 the loan will however be a bullet loan until
31.12.2017. A bullet loan consists of payment of interest and premiums and an
annuity loan consists of payment of repayments, interest and premiums. 

The term depends on when the loan is disbursed. The loan will
expire on 31.12. of the year falling 29 years after the disbursement date. If
the disbursement takes place in December, the loan will however expire on 31.12
of the year falling 30 years after the disbursement date. The loan may have no
more than 120 quarterly payments. 

A premium of 0.5500% p.a. is payable during the loan’s term,
but this must be equivalent to the minimum premium set by Realkredit Danmark at
any time, currently 2,000 DKK. Reservation is made however for changes in the
size and/or calculation method of the premium in accordance with the mortgage
deed’s special conditions, point 2 “discharge of the loan” 

All instalments must be paid by the last day of the quarter at
the latest, provided that this is not a Saturday, Sunday or public holiday. If
you pay too late, we will claim default interest from the due date. This is
described more specifically in the mortgage deed. 

We refer to the provisions of the mortgage deed, which give you
information on liability, cancellation, redemption and taking over liability,
etc. 

REALKREDIT 
Danmark

When we pay out the loan we will send details of the total
payments, year by year, credit information in the principal and settlement rates
for the bonds we have sold. 

	Costs on taking
      up the new loan in DKK 	 
    	 
    
	  	Loan
      no. 1 	Total
    
	Brokerage 1) 	14,900 	  
	Processing fee 	50,000 	  
	Discount on processing fee 	-33,000 	  
	Loan case fee 	2,000 	  
	Total costs to us 	33,900 	33,900 
	  	  	  
	Fixed registration fee 	1,400 	  
	Variable registration fee 	223,500 	  
	Total registration fees 	224,900 	224,900 
	  	  	  
	Total costs for new loan 	258,800 	258,800 

If you require other services from Realkredit Danmark or use
different advisers for example, banks, auditors, lawyers or property brokers,
you must allow for additional costs 

 

 

 

	Notes on
      this page 
	         1) 	Brokerage for loan no. 1 is 0.10% of the market value 

Danmark 

Other comments 

The loan offer is based on the information we have received
from you. If the information contains errors which are of significance for our
valuation of the property, this may lead us to call in the loan for full or
partial redemption. 

If the loan is rather small, or if several new loans are combined,
  the premium will be changed. 

We reserve the right to change the brokerage and price shaving
  upon interest adjustment 

Otherwise we refer to “Loan types and commercial conditions”

Danmark 

Loan repayment 

	Repayment of the loan in DKK 	  	  	  	  	  
	  	Residual debt 	Payment 	Payment 1) 	Interest & 		Refinancing 
	  	End
    	before tax 	after
      tax 	premium 	Repayment 	amount  
	Dec.2007 	14,900,000 	233,378 	175,034 	233,378 	       
         0 	0 
	Mar. 2008 	14,900,000 	191,704 	143,778 	191,704 	           0 	0 
	All 2008 	14,900,000 	766,814 	575,110 	766,814 	           0 	0 
	2009 	14,900,000 	755,966 	566,975 	755,966 	           0 	14,900,000 
	2010 	14,900,000 	755,966 	566,975 	755,966 	       
         0 	14,900,000 
	2011 	14,900,000 	755,966 	566,975 	755,966 	           0 	14,900,000 
	2012 	14,900,000 	755,966 	566,975 	755,966 	       
         0 	14,900,000 
	2013 	14,900,000 	755,966 	566,975 	755,966 	           0 	14,900,000 
	2014 	14,900,000 	755,966 	566,975 	755,966 	       
         0 	14,900,000 
	2015 	14,900,000 	755,966 	566,975 	755,966 	           0 	14,900,000 
	2016 	14,900,000 	755,966 	566,975 	755,966 	       
         0 	14,900,000 
	2017 	14,432,719 	1,222,275 	1,033,527 	754,994 	467,281 	14,900,000 
	2018 	13,943,907 	1,220,067 	1,037,253 	731,255 	488,812 	14,432,719 
	2019 	13,432,546 	1,217,765 	1,041,163 	706,404 	511,361 	13,943,907 
	2020 	12,897,620 	1,215,359 	1,045,251 	680,432 	534,927 	13,432,546 
	2021 	12,338,006 	1,212,833 	1,049,528 	653,219 	559,614 	12,897,620 
	2022 	11,752,548 	1,210,248 	1,054,051 	624,790 	585,458 	12,338,006 
	2023 	11,139,994 	1,207,569 	1,058,815 	595,015 	612,554 	11,752,548 
	2024 	10,499,091 	1,204,796 	1,063,822 	563,893 	640,903 	11,139,994 
	2025 	9,828,501 	1,201,910 	1,069,080 	531,321 	670,589 	10,499,091 
	2026 	9,126,784 	1,198,941 	1,074,635 	497,224 	701,717 	9,828,501 
	2027 	8,392,468 	1,195,861 	1,080,475 	461,545 	734,316 	9,126,784 
	2028 	7,623,984 	1,192,712 	1,086,655 	424,227 	768,485 	8,392,468 
	2029 	6,819,619 	1,189,529 	1,093,237 	385,164 	804,365 	7,623,984 
	2030 	5,977,603 	1,186,312 	1,100,238 	344,296 	842,016 	6,819,619 
	2031 	5,095,950 	1,183,128 	1,107,759 	301,475 	881,653 	5,977,603 
	2032 	4,172,593 	1,180,028 	1,115,861 	256,671 	923,357 	5,095,950 
	2033 	3,205,104 	1,177,216 	1,124,785 	209,727 	967,489 	4,172,593 
	2034 	2,190,666 	1,174,985 	1,134,848 	160,547 	1,014,438 	3,205,104 
	2035 	1,125,344 	1,174,295 	1,147,051 	108,973 	1,065,322 	2,190,666 
	2036 	0 	1,180,256 	1,166,528 	54,912 	1,125,344 	1,125,344 

The first payment in December 2007 is 233,378 DKK, second
payment March 2008 191,704 DKK. 

The amount of the first payment depends on the disbursement
date. 

The number of payment depends on when you drawdown the loan.
However there can only be a maximum of 120 payments. 

The first payment is for the period 11.09.2007 to 31.12.2007.

The calculations are based on the rate of 99.26 and an
unchanged interest level during the entire loan term. The calculations apply
until the next interest adjustment 

	Notes on
      this page 
	         1) 	Tax percentage used 
	  	Whole period 25.00%

REALKREDIT 
Danmark

Declaration on submitting future accounts 

	Name: 	Østergade 17-19 Aps 
	Business registration no: 	29 93 51 06 

As long as K2mediagroup A/S has a loan from Realkredit Danmark,
it undertakes to remit its internal annual accounts with the associated
specifications to Realkredit Danmark every year, as soon as they are ready. If
K2mediagroup A/S has a decisive influence on any businesses or companies, their
accounts will also be submitted. 

At the time of making this declaration K2mediagroup A/S
consents to Realkredit Danmark obtaining annual accounts etc. from the relevant
accounting consultants, banks or auditors. 

The 

Signature ___________________________

Annual accounts 
In the near future all credit institutions
will be subject to new capital adequacy rules, according to which Realkredit
Danmark must have use of annual accounts with specifications for K2mediagrup A/S
every year. Accounts for companies over which K2mediagroupA/S has a decisive
influence must also be submitted. 

The accounts may be sent by email to kreditafdelingen-cad3@rd.dk, delivered to the customer
adviser or sent to Realkredit Danmark, attn. Kreditafdelingen, Parallelvej 17,
2800 Kgs. Lyngby 

REALKREDIT 
Danmark

(Will not be registered) 

Case number 
1310.4746 -03-1 (01)

Page 1 of 2 

Agreement on the loan’s interest adjustment and term 

FlexLån® Type F1K 

	Mortgage number: 	1310.4746 
	Loan principal: 	14,900,000 DKK 
	Property: 	Lille Kongensgade 16,3
  

The following agreement has been concluded between the
undersigned and Realkredit Danmark concerning the loan’s interest adjustment and
term. The agreement is a supplement to the mortgage deed’s “special provisions”
point 2 – discharge of the loan. 

If there is a discrepancy between the agreement and provisions
of the mortgage deed, the provisions of the agreement shall apply. 

Interest adjustment 

With effect from 01.01 each year the loan will be subject to
interest adjustment as follows: 

Interest adjustment profile: 100% interest adjustment every
year 

The loan will be subject to interest adjustment for the first
time with effect from 01.01.2009. Subsequently the interest will be adjusted
every year. 

At the time of each interest adjustment the loan’s interest and
payment will be adjusted in relation to the conditions arising from the sale of
new bonds. 

If you have the loan paid out before 30.11.2007 it may be
necessary to make a small interest adjustment on the loan on 01.01.2008. This
will depend on the price of the 2-year bonds at the time of disbursement. 

If the disbursement price of the 2-year bonds is over 100, we
will only sell bonds in this year. This means that it will be necessary on
01.01.2008 to make a small interest adjustment on the loan. You will see the
anticipated refinancing amounts in the section entitled “Repayment of the loan”
in the loan offer. The interest and payment will change according to the slight
interest adjustment. 

If the disbursement price of the 2-year bonds is below 100,
there will be no slight interest adjustment to the loan on 01.01.2008. Instead a
small number of bonds will be issued during the year with relatively short
terms. 

Term of the loan 

Irrespective of the wording of the mortgage deed the term of
the loan offered is 30 years, but the precise term will depend on when the loan
is disbursed. The loan will expire on 31.12 of the year falling 29 years after
the drawdown date. If disbursement is in December the loan will however expire
on 31.12 of the year falling 30 years after the disbursement date. 

Case number 
1310.4746 -03-1 (01)

Page 2 of 2 

Amendment to the agreement 

You may refinance the amount which has to be refinanced upon
interest adjustment in a different way from that agreed. The agreement may only
be amended in connection with an interest adjustment and this will involve you
signing a new agreement. Realkredit Danmark must have the agreement by the 01.12
before the rent adjustment. 

Change of ownership 

In the event of change of ownership, the purchaser will become
a party to this agreement as part of taking over the loan. The purchaser may
change the interest adjustment profile by making a new agreement with Realkredit
Danmark as described above. This cannot happen however until Realkredit Danmark
has registered final acceptance of the liability. 

Conditions of the mortgage deed 

The conditions of the mortgage deed remain unchanged in other
respects 

	Signed by all debtors 	the 

K2mediagroup A/S 

This mortgage deed cannot be transferred for (?) possession

or mortgage or be the object of individual proceedings

-------------------------------------------------------------------------
Charge:
DKK

	Owners’ association: 	Øster Kvarter, Copenhagen 	File: cabinet no: 
	  	  	(completed by the 
	Land register no: 	14, Øster Kvarter, Copenhagen 	registration office) 
	  	Owner occupied flat no. 9, m.fl. 	  
	  	  	  
	Street and house no.: 	Lille Kongensgade 16,3 	Case number: 
	  	  	1310.4746-03-1 (01) 

Notifying party: 
Name:

Address: 
Tel. no. 

MORTGAGE DEED 
Cash loan with interest adjustment

and conditions concerning interest-only status 

This mortgage deed can be used as security for loans financed
by the issue of covered bonds or mortgage covered bonds 

	Debtors 	K2mediagroup A/S 
	Name and domicile: 	Trommesalen 5,4 
	  	1614 Copenhagen V 
	  	  
	  	
      hereby acknowledge that they owe 

	  	
       

	Creditors 	
       

	Name and domicile: 	
      Realkredit Danmark A/S – Business registration no.
      1339.9174 Lyngby-Taarbek 

	  	
       

	  	
      30-year non-callable cash loan 

	  	
      Reference is made to the mortgage deed’s “special
      provisions” 

	  	
       

	Loan amount 	
      DKK 14,900,000 

	  	
       

	Interest and payment 	
       

	conditions 	
      4.60% annual interest, estimated provisionally. A premium
      of 0.5500% p.a. is also payable calculated on the residual debt, but a
      minimum of 2,000 DKK p.a. per loan. 

	 	
       

		
      Up to 31.12.2016 the payments will only consist of
      interest and premiums. Thereafter the loan will be discharged in full as
      an annuity loan, with the payments consisting of interest, premiums and
      repayments. 

	 	 

NB. The creditor must be notified of change of domicile. 
In
the event of delayed payment of interest and repayments the creditor may demand
full redemption of the capital, see p.9, point 9a. 

Case number: 
1310.4746
-03-1 (01) 
Page 2 of 10 

	See also special 	  	  	  
	provisions point 2 	  	When the loan is discharged as an annuity loan,
      the quarterly payment 
	  	  	(excluding premiums), which is also provisionally
      estimated, will be 1.914% of 
	  	  	the principal. 
	  	  	Payments are due: 	1st March for the period 1st Jan
      – 31st March 
	  	  	  	11th June for the period 1st April
      – 30th June 
	  	  	  	1st Sep. for the period 1st June
      – 30th Sep. 
	  	  	  	11th Dec. for the period 1st Oct
      – 31st Dec. 
	  	  	Reference is otherwise made to the mortgage deed’s
      “special provisions” 
	  	  	  	  
	Cancellation 	  	Reference is made to the mortgage deed’s
      “special provisions” 
	  	  	  	  
	The mortgaged property 	 	14 Øster Kvarter, Copenhagen, owner-occupied
      flat no. 9 
	  	  	15 Øster Kvarter, Copenhagen, owner-occupied
      flat no. 8 
	  	  	  	  
	Providing right of 	DKK 10,000.00 encumbrance registered as pledge-forming
    
	lien after: 	DKK 100,000.00 encumbrance registered as pledge-forming
      – index reg. 
	  	DKK 50,000.00 mortgage deed registered to the
      mortgagor 
	  	  	  	  
	Respected easements etc. 	 	Those registered before 27.04.2006 	 
	(reference to the Land 	 	  	  
	Register is sufficient) 	 	  	  

Special provisions: 

	1. 	Lending conditions 
	  	  
		
      The debtor is subject to the Creditors’ rules applying at
      any time, and the provisions of “Loan types and commercial conditions”,
      which will be distributed on application to the creditors. The conditions
      for disbursement and rate fixing applying at the time the loan offer is
      made are delivered to the debtor. 

	  	
       

	2. 	
      Loan settlement 

	  	
       

		
      Until 31.12.2016 the loan is paid off as a bullet bond.
      Thereafter the loan will be discharged as an annuity loan. In the event of
      disbursement after 30.11.2007 however the loan will be paid off as a
      bullet bond until 31.12.2017. Until final discharge of the loan the debtor
      shall pay interest on and repay the debt, and also pay premiums by making
      cash payments in accordance with the mortgage deed, without being
      requested to do so. 

	 	 
		
      All payments on the loan, including interest, repayments,
      premiums and other payments may only be made in the currency of the loan.
      

	 	 
		
      Payments are to be made in cash by the last appointed
      payment date on the last date of the settlement month, which is not a
      Saturday, Sunday or public holiday. 

	 	 
		
      If payment is not made within the specified payment
      period, the loan becomes due for payment without compensation, and default
      interest and charges will accrue in accordance with the rules laid down by
      the creditors on the subject at all times. 

	 	 
		
      The loan expires on 31.12 in the year falling 29 years
      after the loan’s disbursement. If the loan is disbursed between 01.12 and
      31.12, however, the loan will not expire until 31.12. of the year falling
      30 years after disbursement. 

	 	 
		
      In connection with the setting of interest and in
      accordance with the creditors’ specific conditions, the loan term may be
      extended at any time so that the loan expires by 31.12 of the year falling
      no later than 49 years after disbursement of the loan. If the loan is
      disbursed between 01.12 and 

31.12, however, the loan will not
expire until 31.12. of the year falling 50 years after disbursement. 

The loan amount is raised by sale of a
selection of bonds, of which the longest running has a term of maximum 11 years.
The loan is subject to interest adjustment with effect from 01.01 every year.
The interest adjustment is effected in accordance with the creditors’ conditions
for disbursement and rate fixing applying at any time. With every adjustment of
interest the creditors issue non-callable bullet bonds with a maximum term of 11
years in one bond series, without joint and several liability. The loan’s
interest and payments are established in each interest adjustment period in the
light of the bond interest rate in the currency of the loan. 

The interest stated in “Interest and
payment conditions” is provisional. The interest and consequently the payments
will be established as described above. On disbursement of the loan and on later
interest adjustments, the final interest and payments will be set by the
creditors. The creditors are authorised to make a note on the mortgage deed to
this effect and to have this note registered. 

At any time during the loan’s term the
creditors may introduce brokerage and price shaving upon interest adjustment.
The debtor will be advised of this in writing with at least 3 month’s notice to
the next interest adjustment. 

The payments also include premiums as
specifically determined by the creditors. 

In accordance with the aforementioned
“Loan types and commercial conditions” Realkredit Danmark may at any time during
the loan term change the amount and/or method of calculation of the premium both
for groups of loans and for individual loans. 

If the changes are to the advantage of
the borrower, the changes can be made without notice. If the changes are not to
the advantage of the borrower, changes for groups of loans must be justified by
one or more of the circumstances stated under points A-C and individual changes
must be justified by one or more of the circumstances quoted under points A-E:

	 	A. 	
      Realkredit Danmark changes its general pricing structure
      for commercial reasons, including income-related reasons,

	 	B. 	
      Changes in taxes and duties significantly affecting
      Realkredit Danmark,

	 	C. 	
      The changes are justified by market conditions,

	 	D. 	
      The payment obligation has not been met

	 	E. 	
      There have been changes in one or more of the following
      circumstances:

	 		
      -
	
      the borrower’s creditworthiness

	 		
      -
	
      the mortgage’s stability, negotiability and
  charge,

	 		
      -
	
      the size, profitability and nature of the commitment in
      other respects

		
      Changes in the premium come into effect with at least 3
      months’ notice from issue of the change notification. Borrowers receive
      notifications concerning changes for groups of loans by announcements in
      the daily press or by letter. Borrowers receive notification of individual
      changes by letter.

	 	 
		
      The amount of the payments and premium at the time of
      loan disbursement will be stated in the loan information letter. The first
      instalment will be calculated proportionately from the disbursement date
      and will be due in the first settlement month falling after the
      disbursement date registered by the creditors.

	 	 
		
      Otherwise the payment required for full discharge is paid
      in the loan’s final settlement period.

	 	 
	3. 	
      Due date

	 	 
		
      Irrespective of the time of normal instalment payments
      the loan falls due for repayment in full on 11.12 of the year in which the
      loan expires after the repayment period established.

	 	 
		
      The loan is irrevocable on the part of the creditors
      provided that the debtor meets its obligations in accordance with the
      rules and mortgage deed. Failing this the creditors shall be entitled to
      call in the loan for payment without compensation immediately. The
      creditors shall be able to have a mortgage inspected at any
time.

	 	 
		
      In the event of change of ownership the creditors may
      demand full or partial redemption of the loan. A new owner, who has
      registered final title, may apply to join as borrower instead of the
      previous owner. When deciding whether to allow takeover of the debt the
      creditors will consider

the value of the property, the
purchaser’s financial circumstances, the purchaser’s observance of any earlier
financial obligations, including whether the purchaser has previously directly
or indirectly caused loss to the creditors. The creditors may set more specific
conditions for taking over the debt. If a property is transferred to a different
use within 2 years from disbursement of the loan, so that the property is
assigned to a different property category, the loan will become due for
repayment, if: 

	 	
      - 
	
      as a result of differences in the loan limit and value,
      for instance on account of differences in the valuation rules, the loan
      could only have been granted with a lower return, if it had been measured
      using the rules applying to the new property category. However the loan
      must only be reduced in such a way that in relation to the current value
      established according to the valuation rules applying to the new property
      category it achieves the security level within the loan limit for this
      property category 

The loan also falls due for full
repayment if: 

	 	- 	the loan could only have been
      granted with a shorter term or a faster rate of 
	 	  	amortisation, or 
	 	- 	the loan type could not be
      granted to the new property category. 

		
      In the event of a pre-issue loan the 2 year period is
      calculated from the time when the pre-issue loan became a final
    loan.

	 	 
		
      The time of transfer to another property category is
      calculated from the time of concluding the lease agreement or deal, but
      alternatively the commencement of tenancy and takeover date, if this time
      is later. If no lease agreement or deal is concluded, the transition time
      is calculated from the time the former use ceases.

	 	 
		
      If the property’s lawful use is based on a non-personal
      exemption with a residual term which is either unspecified or less than
      that of the offered loan, the loan falls due for repayment in the same
      way, insofar as the property moves to a different property category before
      total amortisation of the loan.

	 	 
		
      The debtor must advise the creditors of such change of
      use. If the loan applicant conceals information or gives false information
      in loan applications, forms etc, and this has had an effect on the
      valuation or issue of the loan offer, this will be considered as a default
      condition for the creditors. This may involve the loan offer being
      withdrawn immediately or – if the loan has already been paid out – the
      loan being immediately called in for partial or full redemption.

	 	 
	4. 	
      Liability

	 	 
		
      The debtor is liable to the creditors both with the
      mortgaged property and personally for the loan. Upon signing the present
      mortgage deed the debtor accepts personal liability for previous loans to
      the creditors with mortgages on the property. The debtor is aware that
      such previous loans may be granted in series, for which a reserve fund has
      been set up, which is common to this series and the series with which the
      series is jointly and severally liable. Insofar as the series reserve fund
      is higher than required by law, funds can be withdrawn from it and
      transferred to the creditors. If the series reserve fund is less than
      required by legislation, the creditors may decide to demand an exceptional
      contribution to the series reserve fund to bring it up to an appropriate
      level. The debtor is obliged to pay such a contribution with 3 months’
      notice. The contribution is also allocated to loans or parts of loans,
      which have been redeemed in the financial year in question, insofar as a
      reserve was made for this upon redemption.

	 	 
	5. 	
      Redemption

	 	 
		
      Redemption of the loan may only be effected by delivery
      to the creditors of a share corresponding to the residual debt, of the
      bonds issued on account of the loan. This however does not apply in the
      period from 01.12 to 31.12 in the year falling immediately before an
      interest adjustment. During that period the part of the loan, which is not
      subject to interest adjustment can only be redeemed with bonds, if the
      amount which is subject to interest adjustment is redeemed in cash at the
      same time. Amounts which are subject to interest adjustment can only be
      redeemed in cash at par. This however requires the debtor to cancel this
      part of the loan vis-à-vis the creditors in writing before 01.12 in the
      year before the interest adjustment takes place. It may
  however

		
      exceptionally arise that a small part of the interest
      adjustment amount cannot be redeemed in cash. This may arise for example
      in connection with exceptional interest conditions.

	 	 
		
      Partial redemption can only take place proportionately
      with equal percentages in the individual bond years. With partial
      redemption of loans there will be a proportional reduction in payments.
      The redemption amount is calculated by the creditors.

	 	 
		
      The creditors may ask for the charges associated with
      redemption to be reimbursed by the debtor.

	 	 
	6. 	
      Default interest and charges

	 	 
		
      If a settlement payment is not paid by the last specified
      payment date, default interest will accrue. The default interest rate for
      the period is 1.5% per month commenced, counting from the due date and is
      triggered immediately after the last due payment date and thereafter on
      the 11th of the month.

	 	 
		
      The creditors may establish rules concerning charges for
      reminders and failure to pay letters and for service payments etc. in
      connection with the loan and may at any time without notice change the
      amount thereof, and set new payments including charges.

	 	 
		
      The creditors reserve the right to make price changes,
      including changes in the default interest rate and the calculation method
      in accordance with the aforementioned “Loan types and commercial
      conditions”.

	 	 
	7. 	
      Realkredit Danmark’s compensation liability

	 	 
		
      Realkredit Danmark is liable to pay compensation if
      because of errors or neglect we perform the obligations under the
      agreement too late or incorrectly.

	 	 
		
      Even in the areas in which more stringent liability
      applies, Realkredit Danmark does not accept liability for losses due
      to:

	 	- 	
      Breakdown in/lack of access to IT systems or damage to
      data in these systems which can be attributed to the circumstances stated
      below, irrespective of whether Realkredit Danmark itself or an external
      supplier is responsible for operation of the systems. 

	 	- 	
      Failure in Realkredit Danmark’s power supply or
      telecommunications, intervention under the law or government acts, natural
      disasters, war, rebellion, civil unrest, sabotage, terrorism or vandalism
      (including computer viruses and hacking). 

	 	- 	
      Strike, lock out, boycott or blockade, irrespective of
      whether the conflict is directed against or instigated by Realkredit
      Danmark itself or our organisation and irrespective of the cause of the
      conflict. This also applies if the conflict only affects parts of
      Realkredit Danmark. 

	 	-	
      Other circumstances outside the control of Realkredit
      Danmark. 

Realkredit Danmark’s release from
liability does not apply if: 

	 	-	Realkredit Danmark should have
      foreseen the circumstances causing the loss, when the agreement was
      concluded or should avoided or surmounted the cause of the loss. 
	 	-	Realkredit Danmark is in any case
      held liable under the law for the circumstances which caused the loss.
  

	8. 	
      Authority

	 	 
		
      The debtor authorises the creditors to obtain information
      about the property from the Danish Construction and Housing Register (BBR)
      as long as the creditors have a mortgage on the property.

	 	 
	9. 	
      Signing conditions

	 	 
		
      The undersigned debtor hereby confirms upon signing the
      present mortgage deed that he has received the credit information in
      accordance with the Danish Credit Agreements Act, Para.
  8.

In other respects the mortgage deed form B (page 09 and page
10) of the Ministry of Justice will apply. 

______________________________________, the ___________20 

	If the mortgage deed is signed by the 	 	Signature 
	debtor alone he hereby declares at the 	 	  
	same time that he is unmarried/does not 	 	As other debtors: 
	live in a registered partnership, or that 	 	  
	the property is not covered by the Act 	 	  
	concerning the Legal Effects of 	 	  
	Marriage § 18. 	 	 
	 	 	 
	/s/ Anders Hageskov
      	 	 
	  	 	  
	  	 	  
	  	 	  
	Signature 	 	Signature 
	K2mediagroup A/S 	 	  
	  	 	If a person other than the debtor has 
	If the debtor is married/in a registered 	 	final title to the mortgaged property, the 
	partnership, the co-signing 	 	title holder hereby becomes a party to 
	spouse/registered partner declares 	 	the pledge 
	consent to the pledging cf. the Act 	 	  
	concerning Legal Effects of Marriage § 18 	 	  
		 	Signature 

In witness of the authentic signature(s), accuracy of the date
and authority of the issuer(s): 

	CHAIRMAN BENT HELVANG 	 	  
	  	 	  
	   
                         
                     /s/ Bent
      Helvang 	 	  
	Signature 	 	Signature 
	  	 	  
	(Name, occupation and domicile 	 	(Name, occupation and domicile 
	must be completed in block letters) 	 	must be completed in block letters) 
	  	 	  
	Name 	 	Name 
	Occupation 	 	Occupation 
	Domicile 	 	Domicile 

In witness of the authentic signature(s), accuracy of the date
and authority of the issuer(s): 

	Signature 	 	Signature
    
	  	 	  
	(Name, occupation and domicile 	 	(Name, occupation and domicile 
	must be completed in block letters) 	 	must be completed in block letters) 
	  	 	  
	Name 	 	Name 
	Occupation 	 	Occupation 
	Domicile 	 	Domicile

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00138-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00138-of-00352.parquet"}]]