Document:

Promissory Note

Exhibit 10.6

PROMISSORY NOTE

		
	Borrower:

	Eternal Image of 28800 Orchard Lake Road MI 48334

	Lender:

	Clint Mytych

Principal Amount:

$29,750.32

1.

FOR VALUE RECEIVED, Eternal Image promises to pay to Clint Mytych at such address as may be provided in writing to Eternal Image , the principal sum of twenty-nine thousand, seven hundred fifty and thirty-two hundredths ( $29,750.32 ) USD, with interest payable on the unpaid principal at the rate of 5 percent per annum, calculated yearly not in advance.

2.

This Note will be repaid in 24 consecutive monthly installments of $1,305.19 each on the First day of each month commencing 6/1/2007 with the balance then owing under this Note being paid at the end of its term.

3.

At any time while not in default under this Note, Eternal Image may pay the outstanding balance then owing under this Note to Clint Mytych without further bonus or penalty.

4.

Notwithstanding anything to the contrary in this Note, if Eternal Image defaults in the performance of any obligation under this Note, then Clint Mytych may declare the principal amount owing and interest due under this Note at that time to be immediately due and payable.

5.

This Note will be construed in accordance with and governed by the laws of the State of Michigan.

6.

If any term, covenant, condition or provision of this Agreement is held by a court of competent jurisdiction to be invalid, void or unenforceable, it is the parties' intent that such provision be reduced in scope by the court only to the extent deemed necessary by that court to render the provision reasonable and enforceable and the remainder of the provisions of this Agreement will in no way be affected, impaired or invalidated as a result.

7.

All costs, expenses and expenditures including, and without limitation, the complete legal costs incurred by Clint Mytych in enforcing this Note as a result of any default by Eternal Image , will be added to the principal then outstanding and will immediately be paid by Eternal Image . 

8.

This Note will enure to the benefit of and be binding upon the respective heirs, executors, administrators, successors and assigns of Eternal Image and Clint Mytych. Eternal Image waives presentment for payment, notice of non-payment, protest and notice of protest.

9.

EI has the option to pay off early without penalty

IN WITNESS WHEREOF the parties have duly affixed their signatures under seal on this __8th___ day of May, 2007.

										
	 	SIGNED, SEALED, AND DELIVERED

this _8th _ day of May, 2007 in front of the person below who is over 18 years of age and not involved with the contents of this document or related to any of the parties in this document.

__________________________

(signature of witness)

WITNESS DETAILS:

Name:

_______________

Address:

_______________

 

_______________

	 	 

	

 

Eternal Image 

	 	 
	 	 

										
	 	SIGNED, SEALED, AND DELIVERED

this _8th _ day of May, 2007 in front of the person below who is over 18 years of age and not involved with the contents of this document or related to any of the parties in this document.

__________________________

(signature of witness)

WITNESS DETAILS:

Name:

_______________

Address:

_______________

 

_______________

	 	 

	

 

Clint Mytych

	 	 
	 	 

©2002-2007 LawDepot.comTM 

AMORTIZATION SCHEDULE

						
	Date

	Payment ($)

	Principal Paid ($)

	Interest Paid ($)

	Total Interest ($)

	Balance ($)

	Fri Jun 1st, 2007

	  1,305.19  

	  1,183.98  

	  121.21  

	  121.21  

	  28,566.34  

	Sun Jul 1st, 2007

	  1,305.19  

	  1,188.81  

	  116.38  

	  237.59  

	  27,377.53  

	Wed Aug 1st, 2007

	  1,305.19  

	  1,193.65  

	  111.54  

	  349.13  

	  26,183.88  

	Sat Sep 1st, 2007

	  1,305.19  

	  1,198.51  

	  106.68  

	  455.81  

	  24,985.37  

	Mon Oct 1st, 2007

	  1,305.19  

	  1,203.40  

	  101.79  

	  557.60  

	  23,781.97  

	Thu Nov 1st, 2007

	  1,305.19  

	  1,208.30  

	  96.89  

	  654.49  

	  22,573.67  

	Sat Dec 1st, 2007

	  1,305.19  

	  1,213.22  

	  91.97  

	  746.46  

	  21,360.45  

	Tue Jan 1st, 2008

	  1,305.19  

	  1,218.16  

	  87.03  

	  833.48  

	  20,142.28  

	Fri Feb 1st, 2008

	  1,305.19  

	  1,223.13  

	  82.06  

	  915.54  

	  18,919.15  

	Sat Mar 1st, 2008

	  1,305.19  

	  1,228.11  

	  77.08  

	  992.62  

	  17,691.04  

	Tue Apr 1st, 2008

	  1,305.19  

	  1,233.11  

	  72.08  

	  1,064.70  

	  16,457.93  

	Thu May 1st, 2008

	  1,305.19  

	  1,238.14  

	  67.05  

	  1,131.75  

	  15,219.79  

	Sun Jun 1st, 2008

	  1,305.19  

	  1,243.18  

	  62.01  

	  1,193.76  

	  13,976.61  

	Tue Jul 1st, 2008

	  1,305.19  

	  1,248.25  

	  56.94  

	  1,250.70  

	  12,728.36  

	Fri Aug 1st, 2008

	  1,305.19  

	  1,253.33  

	  51.86  

	  1,302.56  

	  11,475.03  

	Mon Sep 1st, 2008

	  1,305.19  

	  1,258.44  

	  46.75  

	  1,349.31  

	  10,216.59  

	Wed Oct 1st, 2008

	  1,305.19  

	  1,263.57  

	  41.62  

	  1,390.93  

	  8,953.02  

	Sat Nov 1st, 2008

	  1,305.19  

	  1,268.71  

	  36.48  

	  1,427.41  

	  7,684.31  

	Mon Dec 1st, 2008

	  1,305.19  

	  1,273.88  

	  31.31  

	  1,458.71  

	  6,410.42  

	Thu Jan 1st, 2009

	  1,305.19  

	  1,279.07  

	  26.12  

	  1,484.83  

	  5,131.35  

	Sun Feb 1st, 2009

	  1,305.19  

	  1,284.28  

	  20.91  

	  1,505.74  

	  3,847.07  

	Sun Mar 1st, 2009

	  1,305.19  

	  1,289.52  

	  15.67  

	  1,521.41  

	  2,557.55  

	Wed Apr 1st, 2009

	  1,305.19  

	  1,294.77  

	  10.42  

	  1,531.83  

	  1,262.78  

	Fri May 1st, 2009

	  1,267.92  

	  1,262.78  

	  5.14  

	  1,536.97  

	  0.00  

©2002-2007 LawDepot.comTMPromissory Note

Exhibit 10.7

PROMISSORY NOTE

Borrower:

Eternal Image of 28800 Orchard Lake Road MI 48334

Lender:

Woodrow Browne

Principal Amount:

$75,000.00

1.

FOR VALUE RECEIVED, Eternal Image promises to pay to Woodbrow Browne at such address as may be provided in writing to Eternal Image , the principal sum of seventy-five thousand ( $75,000.00 ) USD, with interest payable on the unpaid principal at the rate of 8.25 percent per annum, calculated monthly not in advance and in accordance with the attached amortization schedule. 

2.

This Note will be repaid in 3 installments of $25,000 on April 1, 2007, July 1, 2007, and October 1, 2007. The final payment will of $3,201.99 will be made on November 1, 2007 in accordance with the attached amortization schedule. 

3.

At any time while not in default under this Note, Eternal Image may pay the outstanding balance then owing under this Note to Woodrow Browne without further bonus or penalty.

4.

Notwithstanding anything to the contrary in this Note, if Eternal Image defaults in the performance of any obligation under this Note, then Woodrow Browne may declare the principal amount owing and interest due under this Note at that time to be immediately due and payable.

5.

This Note will be construed in accordance with and governed by the laws of the Commonwealth of Pennsylvania.

6.

If any term, covenant, condition or provision of this Agreement is held by a court of competent jurisdiction to be invalid, void or unenforceable, it is the parties' intent that such provision be reduced in scope by the court only to the extent deemed necessary by that court to render the provision reasonable and enforceable and the remainder of the provisions of this Agreement will in no way be affected, impaired or invalidated as a result.

7.

All costs, expenses and expenditures including, and without limitation, the complete legal costs incurred by Woodrow Browne in enforcing this Note as a result of any default by Eternal Image , will be added to the principal then outstanding and will immediately be paid by Eternal Image . 

8.

This Note will ensure to the benefit of and be binding upon the respective heirs, executors, administrators, successors and assigns of Eternal Image and Woodrow Browne. Eternal Image waives presentment for payment, notice of non-payment, protest and notice of protest.

9.

Payments will be made in accordance with the attached amortization schedule. 

IN WITNESS WHEREOF Eternal Image has duly affixed his signature under seal on this 21st day of December, 2006.

												
	 	SIGNED, SEALED, AND DELIVERED

this 21st day of December, 2006 in front of the person below who is over 18 years of age and not involved with the contents of this document or related to any of the parties in this document.

__________________________

(signature of witness)

WITNESS DETAILS:

Name:

_______________

Address:

_______________

 

_______________

	 	 

	

 

Clint Mytych

Eternal Image – Chief Executive Officer

 

James R Parliament

Eternal Image – Chief Financial OfficerPromissory Note

PROMISSORY NOTE

Borrower:

Eternal Image of 28800 Orchard Lake Road MI 48334

Lender:

J. Scott Watkins

Principal Amount:

$35,000

1.

FOR VALUE RECEIVED, Eternal Image promises to pay to J. Scott Watkins at such address as may be provided in writing to Eternal Image , the principal sum of thirty-five thousand ( $35,000.00 ) USD, with 2%  interest payable on the unpaid principal.

2.

This Note will be repaid with an initial down payment of $8,750, and then 12 consecutive monthly installments of $ 2,211.27 each on the 1st day of each month commencing the month following execution of this Note with the balance then owing under this Note being paid at the end of its term.

3.

At any time while not in default under this Note, Eternal Image may pay the outstanding balance then owing under this Note to J. Scott Watkins without further bonus or penalty.

4.

Notwithstanding anything to the contrary in this Note, if Eternal Image defaults in the performance of any obligation under this Note, then J. Scott Watkins may declare the principal amount owing and interest due under this Note at that time to be immediately due and payable.

5.

This Note will be construed in accordance with and governed by the laws of the State of Georgia.

6.

If any term, covenant, condition or provision of this Agreement is held by a court of competent jurisdiction to be invalid, void or unenforceable, it is the parties' intent that such provision be reduced in scope by the court only to the extent deemed necessary by that court to render the provision reasonable and enforceable and the remainder of the provisions of this Agreement will in no way be affected, impaired or invalidated as a result.

7.

All costs, expenses and expenditures including, and without limitation, the complete legal costs incurred by J. Scott Watkins in enforcing this Note as a result of any default by Eternal Image , will be added to the principal then outstanding and will immediately be paid by Eternal Image . 

8.

This Note will ensure to the benefit of and be binding upon the respective heirs, executors, administrators, successors and assigns of Eternal Image and J. Scott Watkins. Eternal Image waives presentment for payment, notice of non-payment, protest and notice of protest.

9.

Monthly Payment Amount: $ 2,211.27

IN WITNESS WHEREOF Eternal Image has duly affixed his signature under seal on this 21st day of December, 2006.

												
	 	

SIGNED, SEALED, AND DELIVERED

this 21st day of December, 2006 in front of the person below who is over 18 years of age and not involved with the contents of this document or related to any of the parties in this document.

__________________________

(signature of witness)

WITNESS DETAILS:

Name:

_______________

Address:

_______________

 

_______________

	 	 

	

 

Clint Mytych

Eternal Image – Chief Executive Officer

 

James R Parliament

Eternal Image – Chief Financial Officer

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