from 10-12G/A
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Monterey Ventures, Inc. 380 Foam St., #210 Monterey, Ca 93940 May 18, 1999 Mr. Dennis Davis, President HOME.WEB, Inc. Po Box 653 Pacific Grove, Ca 93950 Re: Loan Commitment Dear Dennis, HOME.WEB, Inc. Is Improved for an Internal Line of Credit in the Amount of One Hundred Fifty Thousand Dollars ($150,000). the Terms and Conditions Are as Follows: 1. Amount: $150,000 2. Terms: 1 Year 3. Collateral: Security Agreement and Ucc-1 Covering Accounts Receivable, Inventory and Equipment 4. Guarantor: Dennis Davis 5. Rate: 12% Annual Percentage Rate Fee: $150 Documentation Fee Per Transaction. 6. Notes: Transactions Can Be in a Series of Short-Term Notes, Not to Exceed Aggregate Amount of $150,000. Long-Term Notes, Not to Exceed 36 Months With a Minimum of $5,000 and a Maximum of $25,000. 24-Month Note Requests Must Be a Minimum of $2,500 and a Maximum of $25,000. Any Long-Term Requests Must Stay Within the $150,000 Internal Credit Amount. /S/ Dennis Davis /S/ Robert A. Strahl - Dennis Davis Robert A. Strahl President President HOME.WEB, Inc. Monterey Ventures, Inc. <page>
