Complaint,Petition: LVNV FUNDING LLC vs. LAMB, TAD

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                                Filing # 60860349 E-Filed 08/24/2017 01:59:16 PM

LVNV FUNDING LLC, IN THE CIRCUIT COURT OF THE 9TH
- JUDICIAL CIRCUIT IN AND FOR
Plaintiff, ORANGE COUNTY, FLORIDA
vs. GENERAL JURISDICTION DIVISION
TAD LAMB, AS GUARANTOR FOR CASE No:

COVERT SECURITY SERVICES, INC.

/

Defendant.

COMPLAINT

Plaintiff, LVNV FUNDING LLC , by and through undersigned counsel, sues

Defendant,
alleges that:
1.
2.

TAD LAMB, AS GUARANTOR FOR COVERT SECURITY SERVICES, INC. and

This is an action for damages that is within the jurisdiction of this Court.
Plaintiff is a limited liability company authorized to bring this lawsuit in Florida.
Defendant is an individual, is sui juris, and is a resident of ORANGE County,
Florida.

All conditions precedent to the bringing of this action have been met or
waived.

On or about 03-11-2016 Defendant requested from and was granted an
extension of credit by ON DECK CAPITAL, INC.

The original account number was

Plaintiff is the owner and holder of the debt pursuant to an assignment from
the original creditor. An assignment is not required to be attached to an initial
pleading. CACV v. DeWolf, 15 Fla. L. Weekly 27a (15" Jud Cir. App. Nov.
13, 2007).

Plaintiff was assigned the aforementioned account on or about

04-20-17 . Correspondence was sent by the Plaintiff, its representatives, orboth more than thirty (30) days prior to the filing of this action.
COUNT | - ACCOUNT STATED

 

Plaintiff realleges and reaffirms paragraphs 1 through 8 above.

9. Before the institution of this action Plaintiffs assignor and Defendant had
business transactions between them and on 11-30-16, they agreed to the
resulting balance.

10. Plaintiff's assignor rendered a statement of it to Defendant, a copy being
attached, and Defendant did not object to the statement.

11. Defendant owes Plaintiff $19131.30 since 11-30-16 on the account.
WHEREFORE, Plaintiff demands judgment against the Defendant for
damages of $19131.30, costs, and any other relief that this Court deems just

and proper.

f mn/
‘ (POLLACK & ROSEN, P.A.

4“ Joseph I. Harrison, Esq.
FLA. BAR NO.: 31833
Attorney for the Plaintiff
806 Douglas Road, Suite 200
Coral Gables, Florida 33134
Telephone: (305) 448-0006 x 267
Toll Free: (888) 448-1557
Facsimile: (305) 569-0101

E-mail: Joseph H@PollackRosen.com
LegalPleadings@PollackRosen.com

Matter No: 3062069OnDeck >

THANK YOU FOR BUSINESS LOAN AND SECURITY
WORKING WITH US! AGREEMENT SUPPLEMENT

ey Ue elt hy

 

$25,000

Dear Tad,

. . . Your Information
Congratulations on being approved for a smal! business
loan with On Deck Capital, Inc.! We want to thank you for

. . Business Name: Covert Security Services, Inc.
this opportunity to help your business grow.

Owner Name: Tad Lamb
Below is a summary of your loan details. Your Bank : PNC BANK, OHIO

Routing numbe

Account number: ii

 

10S ches MELON t OWNER INFORMATION
Covert Security Services, Inc. Tad Lamb
801 Northpoint Pky, Ste 128 14861 Driftwater Dr
West Palm Beach FL, 33407 Winter Garden, FL 33407
"4015 4936

 

This Business Loan and Security Agreement Supplement is part of (and incorporated by reference into) the Business Loan and
Security Agreement. Borrower should keep this important legal document for Borrower's records.

  

‘OUR LOAN DETAILS

   

 

 

Borrower . Covert Security Services, Inc.
Lender ~~ — On Deck Capital, Inc.
Loan Amount $25,600 ~~

 

Origination Fee

 

 

(Deducted at time of disbursement) $625.00
Disbursement Amount
(Loan Amount Jess. Origination Fee less any principal amount owed to $24,375.00
Lender from an existing loan or any amount used to pay off an existing sts
obligation owed to a third party lender)
DAILY Payment Amount (Business days only) $131.93
Number of DAILY Payments (Business days only) 252
Payment Schedule 252 payments of $131.94 due each Business day.

("Business day" means any Monday through Friday, except for
Federal Reserve holidays)

 

Interest Expense Multiplier
(Total Repayment Amount divided by the Loan Amount. This reflects 1.33
per dollar interest cost of the loan)

 

Total interest Expense

(Does not include any Fees) $8,248.88

 

Total Repayment Amount

(Loan Amount plus Total Interest Expense) $39,248.88Prepayment
(See Section 10 of the Business Loan and Security Agreement for
specilic details)

PREPAYMENT, RENEWAL, AND OTHER FEES

A"Prepayment Interest Reduction Percentage” of 25% (with respect

to unpaid interest remaining on this loan) will be applied to the extent

that the Borrower prepays this Loan in whole in accordance with, and

subject to, Section 10 of the Business Loan and Security Agreement.

Note that 75% of remaining unpaid interest will stil be due upon
prepayment.

 

 

 

 

Remaining unpaid interest on this Loan will be eligible to be forgiven by
Lender if: (i) Borrower is current on its scheduled payments with
respect to this Loan and, (i) while this Loan is outstanding, Borrower

 

 

 

Renewals
enters into a business loan and security agreement for a new
qualifying term loan with Lender, a portion of the proceeds of which is
used to repay this Loan in whole.
Returned Payment Fee: $25.00
Other Fees

Late Fee: $10.00 (maximum $50 within any 20 day period)

 

 

 

(For your reference, we hay

  

 

PRICING AND COMPARISION TOOLS
ve included these pricing and comparison tools to help you understand the pricing on your Loan. These pricing
metrics assume that all payments on your Loan are made on time.)

 

 

 

 

PRICING METRIC
METRIC APPLIED TO EXPLANATION OF METRIC CALCULATION OF METRIC
YOUR LOAN
Total Loan $8,873.88 The total amount that you will pay in Total Interest Expense + Origination Fee.
Cost . interest and origination fees With respect to your Loan: $8,248.88 + $625.00 = $8,873.88
Cents on the For each dollar borrowed, the amount of Total Interest Expense Loan Amount (Expressed as Cents of
Dollar 33¢ interest that will need to be repaid Interest Paid per Dollar Borrowed).
With respect to your Loan: $8,248.88 + $25,000.00 = 33¢
The total amount of interest that you will
Pay as a percentage of the amount
Total Interest borrowed. Total Interest Expense + Loan Amount (Expressed as a
Percentage 33% Note that the TIP is not annualized, and Percentage).
(TIP) therefore use caution in comparing to With respect to your Loan: $8,248.88 + $25,000.00 = 33%
loans expressed in annualized terms or
with terms of different durations.

 

 

 

Loan Pricing Disclosure

Lender uses a system of risk-based pricing to determine interest charges and fees. Risk-based pricing is a
system that evaluates the risk factors of your application and adjusts the interest rate up or down based on this
risk evaluation. Although Lender believes that its loan process provides expedited turnaround time and efficient

access to capital, this loan may be a higher cost loan than loans that may be available through other lenders.

 

Loan For Specific
Purposes Only

 

 

The proceeds of the requested Loan may solely be used for the specific purposes as set forth in the Use of
Proceeds Certification of the Business Loan and Security Agreement. IN ADDITION, THE LOAN WILL NOT BE
USED FOR PERSONAL, FAMILY OR HOUSEHOLD PURPOSES. Borrower understands that Borrower's
agreement not to use the Loan proceeds-for personal, family or household purposes means that certain important
duties imposed upon entities making loans for consumer/personal purposes, and certain important rights
conferred upon consumers, pursuant to federal or state law will not apply to this transaction.

 

 

If you have any questio:
Monday - Friday 8am -

ns, please call us at (888) 828-5717 (we have support available
8pm EST and Saturdays 8:30am - 5:30pm EST) or email support@ondeck.com.Questions? (888) 269-4246

 

901 North Stuart Street, Suite 700
Arlington, VA 22203

fad lamb February 01, 2017
Covert Security Services, Inc.
801 Northpoint Pky, Ste 128 Account Number: 7194

West Palm Beach, FL 33407

Important Information Regarding Your OnDeck Capital, Inc. Loan
Dear Tad Lamb:
We are contacting you regarding the sale and transfer of your defaulted OnDeck Capital, Inc. ("OnDeck") loan
referenced above. Please read the information below, because it includes the contact information you'll need for
everything related to this loan.
This communication is not a bill. On January 31, 2017, your OnDeck loan, including its servicing, was sold to
Sherman Originator Ill LLC (“Sherman”); and following the sale to Sherman, Sherman will place this loan with its
corporate affiliate Resurgent Capital Services L.P. (“Resurgent”) for servicing. This means that Resurgent will handle the
administration of the loan. All prior settlement offers are now null and void and you should no longer send payments to

OnDeck; please instead send all payments to Resurgent at the address below.

Please note that even though OnDeck has sold this loan, your repayment obligations have not changed, and the debt is
still owed. As of the date your loan was sold to Sherman, the balance due on the loan was $19,131.30.

The contact information for this loan is as follows:
Resurgent Capital Services L.P
PO Box 10497
Greenville, SC 29603

If you have any questions, please contact Resurgent’s customer service, either in writing at the address above or by
phone at (888) 665-0374.

Sincerely,

On Deck Payment Support, LLC

1083363/ONLPS10/2017-02-01Detail by Entity Name

Florida Deparimen| of State

 

Department of Slate / Division of Corporations / Search Records / Detail By Document Number /

 

Page 1 of 2

 

 

Detail by Entity Name
Florida Profit Corporation
COVERT SECURITY SERVICES, INC.

Filing information

Document Number 54050
FEVEIN Number 59-2534015
Date Filed 04/26/1985
State FL

Status ACTIVE

Last Event AMENDMENT
Event Date Filed 02/25/2015
Event Effective Date NONE

Principal Address

801 NORTHPOINT PKWY.
WEST PALM BEACH, FL 33407

Changed: 11/06/2014

Mailing Address
801 NORTHPOINT PKWY.
WEST PALM BEACH, FL 33407

Changed: 11/06/2014

Registered Agent Name & Address
CHRISTMAS, JOHN H, JR

6820 MILLHOPPER RD
GAINESVILLE, FL 32653

Registered Agent Resigned: 04/28/2017

Officer/Director Detail
Name & Address

Title P

LAMB, TAD

801 NORTHPOINT PKWY
WEST PLAM BEACH, FL 33407

Title T

 

 

http://search.sunbiz.org/Inquiry/CorporationSearch/SearchResultDetail?inquirytype=Entity.... 7/14/2017Detail by Entity Name

LAMB, CALEB
801 NORTHPOINT PKWY
WEST PLAM BEACH, FL 33407

Annual Reports

Report Year Filed Date
2014 04/11/2014
2015 05/01/2015
2016 01/22/2016
Document Images

04/28/2017 -- Reg. Agent Resignation
01/22/2016 ~ ANNUAL REPORT
05/01/2015 ~ ANNUAL REPORT
02/28/2015 -- Amendment

 

 

11/06/2014 -- Amendment and Name Change
04/14/2014 -- ANNUAL REPORT

  

(2013 ~ ANNUAL REPORT
04/08/2012 -- ANNUAL REPORT
02/28/2011 -- ANNUAL REPORT
03/29/2010 - ANNUAL REPORT
03/22/2009 -- ANNUAL REPORT
04/08/2008 —- ANNUAL REPORT
04/16/2007 - ANNUAL REPORT
09/22/2006 — ANNUAL REPORT
04/08/2005 -- ANNUAL REPORT
04/27/2004 — ANNUAL REPORT.
01/19/2003 -- ANNUAL REPORT
04/29/2002 - ANNUAL REPORT
NNUAL REPORT
02/16/2000 -- ANNUAL REPORT

o4v27i2001

 

03/16/1999 -.. ANNUAL REPORT
04/19/1998 -- ANNUAL REPORT
04/11/1997 — ANNUAL REPORT
02/18/1996 -- ANNUAL REPORT

04/20/1995 -- ANNUAL REPORT

 

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Page 2 of 2

 

 

Foride Cesartment of State, Suision of Corporatons

http://search.sunbiz.org/Inquiry/CorporationSearch/SearchResultDetail ?inquirytype=Entity..._ 7/14/2017BILL OF SALE

This Bill of Sale is entered into this 31% day of January, 2017, pursuant to that certain
Agreement for the Purchase and Sale of Charged-Off Accounts (“Agreement”) effective as of
January 26, 2017, by and between Sherman Originator III LLC, as buyer (“Buyer”), and On Deck
Capital, Inc. (“ODC”), as seller. Capitalized Terms used and not defined in this Bill of Sale shall
have the meanings ascribed thereto in the Agreement.

For good and valuable consideration as more particularly set forth in the Agreement, ODC
(acting either (x) on its own behalf as the owner of the applicable Accounts or (y) on behalf of the
applicable Sub-Seller in ODC’s capacity as servicer with respect thereof) hereby assigns, sells,
transfers and conveys (or causes to be assigned, sold, transferred and conveyed) to Buyer, without
recourse except as specifically provided in the Agreement, the Accounts described in the Account
Schedule attached hereto as Schedule A.

On Deck Capital, Inc. (acting either (x) on its
own behalf as the owner of the applicable
Accounts or (y) on behalf of the applicable Sub-
Seller in ODC’s capacity as servicer with respect

thereof)
By: 4 Abii
Namef :

Title:Schedule A

 

 

 

 

 

 

 

 

 

 

 

 

 

List of Accounts
Number of Accounts Seller or Sub-Seller Name Aggregate Unpaid Balance
ODAST II $
On Deck Internal $
ODWS $
ODAC $
ODART $
Prospect $
Overland $
WF-17 $
RAOD $
Tolis Advisors $
MPLT 2015-OD3 $
SBAF 2009 $
Angelo Gordon $
Abbreviated Name jal_Nai
ODAST II OnDeck Asset Securitization Trust I! LLC
[Qn Deck Internal _|On Deck Capital, Inc.
lopws ODWS, LLC
QDAC [On Deck Asset Company, LLC
QDART OnDeck Account Receivables Trust 2013-1 LLC
[Prospect Prospect Small Business Lending, LLC
Overland ODYF Business LLC
WE-17 IWE 17, LLC
|RAOD Receivable Assets of OnDeck, LLC
[Tolis Advisors _|SBL Holdings 2015-1 LLC
|MPLT.2015-OD3 [Marketplace Loan Grantor Trust, Series 2015-OD3
[SBAF 2009 Small Business Asset Fund 2009 LLC.
[Angelo Gordon —_|OD Loan Holdings |

 

 

 

 

(Please see Computer File entitled “Sherman Tape January 2017 v2” and dated
“01/31/2017”)Exhibit 2

WIRE INSTRUCTIONS

Bank Name: MB Financial Bank

ABA Number: |
Account Number: |

Description: On Deck Capital, Inc. /On Deck Operating AccountExhibit 3
CLOSING STATEMENT

Number of Accounts: ||

Aggregate Unpaid Balance of Accounts: iy
Aggregate Purchase Price of Accounts ia

Cut-Off Date: January 27, 2017

Closing Date: January 31, 2017Exhibit 4

FORM OF COMPUTER FILE
Account ID
Product Family
Initial Funding Source
Source
Loan Funded Date
Charge Off Date
Charge Off Principal
Charge Off Interest
Total Charge Off Balance
Recoveries
Total Charge Off Balance Minus Recoveries
Last Payment Date
Last Payment Amount
# Of Payment Days Past Due
Legal Entity
Account Name
Doing Business As
Business Address
Business City
Business State
Business Zip
Tax ID
Company Phone
Guarantor 1 Name
Guarantor 1 Address
Guarantor 1 City
Guarantor | State
Guarantor 1 ZIP
Guarantor 1 SSN
Guarantor 1 Phone
Guarantor 1 Email
Guarantor 2 Name
Guarantor 2 Address
Guarantor 2 City
Guarantor 2 State
Guarantor 2 ZIP
Guarantor 2 SSN
Guarantor 2 Phone
Guarantor 3 Name
Guarantor 3 Address
Guarantor 3 City
Guarantor 3 State
Guarantor 3 ZIPGuarantor 3 SSN
Guarantor 3 Phone
Guarantor 1 Date of Birth
Guarantor 2 Date of Birth
Guarantor 3 Date of BirthDeclaration of Account Transfer

Sherman Originator II] LLC (“SOLLC III”), without recourse, to the extent permitted by
applicable law, transferred, sold, assigned, conveyed, granted and delivered to Sherman
Originator LLC (“SOLLC”) all of its right, title and interest in and to the receivables and other
assets (the “Assets”) identified on Exhibit A, in the Receivable File dated January 31, 2017
delivered by On Deck Asset Company, LLC, OnDeck Account Receivables, OnDeck Asset
Securitization Trust Il LLC, On Deck Capital, Inc., ODYF Business LLC, c/o Overland Advisors
LLC, Prospect Small Business Lending, LLC, SMALL BUSINESS LOAN FUND 2009 LLC,
SBL Holdings 2015-1LLC, c/o Talis Advisors LP, WF 17, LLC, OD LOAN HOLDINGS I, c/o
Deutsche Bank National Trust Company, Receivable Assets of OnDeck, LLC, ODWS, Inc.,
MarketPlace Loan Grantor Trust, Series 201 5-0D3 on January 31, 2017 for purchase by SOLLC
TI on January 31, 2017. The transfer of the Assets included electronically stored business
records,

SOLLC, subsequent to the above mentioned transfer, transferred, sold, assigned, conveyed,
granted and delivered to LVNV Funding LLC (“LVNV”), the above mentioned Assets, The
transfer of the Assets included electronically stored business records.

Sherman Originator II LLC
a Delaware Limited Liability Company
d

 

Sherman Originator LLC
a Delaware Limited Liability Company

 

Title: Authorized Representative

LVNVXunding LLC

   

Title: Authorized RepresentativeExhibit A

Receivables File
01.31.17 Sherman Tape January 2017 v2

Transfer Group Portfolio Transfer Batch
442123 27876 N/AMEDIA -

|

UCC FINANCING STATEMENT

FOLLOW INSTRUCTIONS

‘A. NAME & PHONE OF CONTACT AT FILER (optional)
Corporation Service Company 1-800-858-5294

B. E-MAIL CONTACT AT FILER (optional)
SPRFiling@cscinfo.com

C. SEND ACKNOWLEDGMENT TO: (Name and Address)

[78054615 - 371860 7
Corporation Service Company
801 Adlai Stevenson Drive
Springfield, IL 62703

 

 

Filed In: Florida

(8.0.s)|

 

 

JHE ABOVE SPACE IS FOR FILING OFFICE USE ONLY

 

1, DEBTOR'S NAME: Provide only ong Debtor name (18 or 18) (use exact, ful name; do not omit, modify, or at
‘name will not fit in line 1b, leave all of item 1 blank, check here (LJ #"4 provide the individual Debtor informatio

12, ORGANIZATIONS NAME Covert Security Services, Inc.
OR)

ibbreviate any part of the Debtor's name): if any part of the Individual Deblor’s
n in item 10 of the Financing Statement Addendum (Form UCC Ad)

 

1b. INDIVIDUALS SURNAME

 

 

FIRST PERSONAL NAME [ADDITIONAL NAME(SVINITIAL(S) [SUFFIX
te. MAILING ADDRESS BOT Northpoint Pky, Ste 128 ery STATE POSTAL CODE ISOUNTRY
West Palm Beach FL | 33407 USA

 

 

2. DEBTOR'S NAME: Provide only one Debtor name (2a or 2b) (use exact, full name; do not omit, modity, or abbreviate any part of tl

name wil tin ine 2 leave a ftom 2 blank, check here [] and provide 1

the Debtor's name); if any part of the individual Debtor's

he Individual Debtor information in item 10 of the Financing Statement Addendum (Form UCG1Ad)

 

 

 

 

 

 

 

 

 

a. ORGANIZATIONS NAME
OR Po5 INDIVIDUALS SURNAME FIRST PERSONAL NAME [ADDITIONAL NAMEIS)/NITIALIS) [SUFFIX
26. MAILING ADDRESS airy STATE [POSTAL CODE COUNTRY
3. SECURED PARTY'S NAME (or NAME of ASSIGNEE of ASSIGNOR SECURED PARTY): Provide only ane Secured Party name (3a or 30)

3a, ORGANIZATIONS NAME ASSN COMPANY
OR |p. NDIVIDUALS SURNAME FIRST PERSONAL NAME [ADDITIONAL NAME(SyINITIAL(S) [SUFFIX
Je. MAILING ADDRESS PQ. Box D576 jenny STATE [POSTAL CODE [COUNTRY

Springfield IL 62708 USA

 

 

 

 

4, COLLATERAL: This financing statement covers the following collateral

All documentary stamps due and Payable or to become due and payable pursuant to s. 201.22 F.S., have been paid.
Any and all assets of the debtor whether now owned or hereafter acquired or arising.

THE SECURED PARTY NAMED IN THIS RECORD IS ACTING IN A REPRESENTATIVE CAPACITY FOR PURPOSES
OF FORWARDING NOTICES & INQUIRIES REGARDING THIS RECORD. FOR MORE INFORMATION, PLEASE
CONTACT THE SECURED PARTY AT THE ADDRESS LISTED ABOVE OR AT UCCSPREP@CSCINFO.COM.

 

 

‘5. Check galy if applicabie and check anly one box: Collateral is
6a. Check only it applicable and check only one box:

    

 

Manufactured-Home Transaction
7 ALTERNATIVE DESIGNATION (if applicable):
8. OPTIONAL FILER REFERENCE DATA:

TA debtor is a Transmiting
Consignee/Consignor

  

FILING OFFICE COPY — UCC FINANCING STATEMENT (Form UCC1) (Rev. 04/20/1 1)

held in @ Trust (see UCCIAd, item 17 and Instructions)

  

being administered by a Decedent's Personal Representative
‘6b. Check only if applicable and check gniy one box
Agricultural Lien

    

Utility
Seller/Buyer

Non-UCC Filing

Bailee/Bailor Licensee/icensor

113054615

‘Corporation Save Company
2711 Conterile Ro, Sia. 400
Wimington, DE 19808,ondeck

Covert Security Services, inc.
801 Northpoint Pky, Ste 128
West Palm Beach FL 33407

TRANSACTION HISTORY
03/09/2016 - 01/27/2017

General Questions
Email:
Phone: 1-888-269-4246

Payment Questions
Email:
Phone: 1-868-904-6603.

Available online at ondeck conviogin

 

Transaction

 

__ tip ate ate Cleared Date vee
16740433 11/30/2016 11/30/2016 Write Off
16074785 10/28/2016 10/28/2016 Payment Error
15974417 10/25/2016 10/28/2016 Loan Payment
15966990 10/24/2016 10/27/2016 —_Late Fee

Completed
Completed

Error

Error

  

Beginning

Remaining
lance

Amount Principal Interest Fees

 

$0.00 $16,169.64 $2,961.66 $0.00

 

$19,131.30
‘Adjustment
r:
2016-10-25 $330.00 $18,801.30 $19,131.30 $234.43 ‘$95.57 $0.00
(15974417)
Account
Closed $330.00 $19,131.30 $18,801.30 $234.43 ($95.57 $0.00
‘Account $10.00 $19,131.30 $19,131.30 $0.00 $0.00 $10.00

ClosedMEDIA -

Transaction
___ Satip Initlated Date Cleared Date __pe
18405354 09/23/2016 09/28/2018 —_Late Fee
14795859 08/23/2016 08/26/2016 Late Fee
14796616 08/23/2016 08/23/2016 Payment Error
14796617 08/23/2016 08/23/2016 Payment Error
14777210 08/22/2016 08/22/2016 Payment Error
14751310 08/19/2016 08/19/2016 Payment Error
14728741 08/18/2016 08/23/2016 Loan Payment
14728740 08/18/2016 08/23/2016 Loan Payment
Returned
14731994 08/8/2016 08/29/2018 py owiree
14732390 08/18/2016 08/18/2016 Payment Error
14713277 08/17/2016 08/17/2016 Payment Error

Completed

‘Completed

Completed

Completed

Error
Error

Error

Completed

Completed

  

Adjustment
for:

2016-08-18
(14728740)
Adjustment

for:

2016-08-18
(14728741)
‘Adjustment
for:
2016-08-17
(14692716)
‘Adjustment
for:
2016-08-16
(14665882)
‘Account
Frozen
Account
Frozen
‘Account
Frozen
Adjustment
for:
2016-08-15
(14647018)
Adjustment
for:

2016-08-12
(14623878)

Amount
$10.00

$10.00

$131.94
$131.96
$131.96

$131.96

$131.94
$131.94

$26.00

$131.94

$131.94

Beginning
Balance

 

$19,131.30

$18,867.42

$18,867.42

$18,999.36

$18,735.48

$18,603.54

$18,603.54
$18,735.48

$18,471.60

$18,471.60

$18,603.54

Remaining
Balance

$19,131.30
$18,867.42

$18,999.36

$19,131.30

$18,867.42

$18,735.48

$18,471.60
$18,603.54

$18,471.60

$18,603.54

$18,735.48

Principal

$0.00
$0.00

$93.77

$93.55

$93.99

$94.22

$94.44
$94.22

$0.00

994.44

$94.22

Interest
$0.00
$0.00

$38.17

$38.39

$37.95

$37.72

$37.50
$37.72
$0.00

$37.50

$97.72

 

$10.00

$10.00

$0.00

$0.00

$0.00

$0.00

$0.00
$0.00
$25.00Transaction

 

 

14892716

14865882

14647018

14623878
14602043
14570520
14543553
14528910
14499986
14481271
14448076
14421087
14394983
14371008
14351668
14318886
14292570
14273991
14248994
14231748
14198451
14172018

MEDIA-

 

 

 

Initiated Date Cleared Date Type Status Error Amount Beginning Remaining
08/17/2016 08/22/2016 Loan Payment Error AUN $431.94 $18,795.48 $18,603.54
08/16/2016 08/19/2016 Loan Payment Error insuttctett $131.94 $18,867.42 $18,735.48
08/15/2016 08/18/2016 Loan Payment Emor  ‘nsuiclent 191.94 $18,990.98 $18,807.42
08122016 08/17/2016 Loan Payment Eror  ("suiiclen $131.94 $19,191.30 $18,990.96
08/11/2016 08/11/2016 Loan Payment Completed $131.94 $19,263.24 $19,131.30
08/10/2016 08/10/2016 Loan Payment Completed $131.94 $19,395.18 $19,263.24
08/09/2016 08/09/2016 Loan Payment Completed $131.96 $19,527.12 $19,395.18
(08/08/2016 08/08/2016 Loan Payment Completed $131.96 $19,659.06 $19,527.12
08/05/2016 08/08/2016 Loan Payment Completed $131.94 $19,791.00 $19,659.06
08/04/2016 08/04/2016 Loan Payment Completed $191.94 $19,922.94 $19,791.00
08/03/2016 08/03/2016 Loan Payment Completed $131.94 $20,054.88 $19,922.94
(08/02/2016 08/02/2016 Loan Payment Completed $131.94 $20,186.82 $20,054.88,
08/01/2016 08/01/2016 Loan Payment Completed $131.94 $20,318.76 $20,196.82
0772912016 07/29/2016 Loan Payment Completed $131.94 $20,450.70 $20,318.76
07/28/2016 07/28/2016 Loan Payment Completed $191.94 $20,582.64 $20,450.70
077272016 07/27/2016 Loan Payment Completed $131.94 $20,714.58 $20,582.64
07/26/2016 07/26/2016 Loan Payment Completed $131.94 $20,846.52 $20,714.58
07/25/2016 07/25/2016 Loan Payment Completed $191.94 $20,978.46 $20,848.52
07/22/2016 07/22/2016 Loan Payment Completed $131.94 $21,110.40 $20,978.46
07/21/2016 07/21/2016 Loan Payment Completed $191.94 $21,242.34 $21,110.40
0772072016 07/20/2016 Loan Payment Completed $191.94 $21,374.28 $21,242.34
07/19/2016 07/19/2016 Loan Payment Completed $131.94 $21,506.22 $21,374.28

Principal

 

904,22
$93.99
$93.77

$93.55
$93.33
$93.11
$92.89
$02.67
$02.45
$92.23
$92.01
$91.79
$91.57
$91.35
sort4
$90.93
$90.71
$90.50
$90.28
$90.07
$80.85
$89.64

Fees
$0.00
$0.00
$0.00

$0.00

$0.00
$0.00
$0.00
$0.00
$0.00
$0.00
$0.00
$0.00
$0.00
$0.00
$0.00
$0.00
$0.00
$0.00
$0.00
$0.00
‘$0.00
‘$0.00MEDIA -

 

 

 

Transaction intiated Date Cleared Date Type Status Error Amount Begiinnng Remaining
14154237 O7/18/2016 07/18/2048 Loan Paymen Compieted $131.94 $21,638.16 $21,506.22
14064699 07/15/2016 07/15/2016 Loan Payment Completed $191.96 $21,770.10 $21,638.16
14044249 07/4/2016 07/14/2016 Loan Payment Completed $131.96 $21,902.04 $21,770.10
14013608 07/19/2016 07/19/2016 Loan Payment Completed $131.94 $22,033.98 $21,902.04
19987697 07/12/2016 07/12/2016 Loan Payment Completed $191.94 $22,165.92 $22,033.08
19969465 07/11/2016 07/11/2016 Loan Payment Completed $131.94 $22,207.86 $22,165.92
13947149 07/08/2016 07/08/2016 Loan Payment Completed $131.94 $22,420.80 $22,207.86
13928097 07/07/2016 0707/2016 Loan Payment Completed $191.94 $22,581.74 $22,429.80
13895687 07/06/2016 07106/2016 Loan Payment Completed $131.94 $22,693.68 $22,561.74
13870419 07/05/2016 07/08/2016 Loan Payment Completed $191.94 $22,825.62 $22,603.68
13839119 07/01/2016 07/01/2016 Loan Payment Completed $131.94 $22,957.56 $22,825.62
19816615 06/90/2016 06/30/2016 Loan Payment Completed $191.94 $23,089.50 $22,957.56
13788934 06/29/2016 06/29/2016 Loan Payment Completed $131.94 $23,221.44 $29,089.50
19764859 06/28/2016 08/28/2016 Loan Payment Completed $191.94 $23,953.38 $23,221.44
13747168 06/27/2016 06/27/2016 Loan Payment Completed $191.94 $23,485.32 $23,353.38
19728708 06/24/2016 06/24/2016 Loan Payment Completed $191.94 $23,617.26 $23,485.32
13701717 06/29/2016 06/29/2018 Loan Payment Completed $191.96 $23,749.20 $23,617.28
19673464 06/22/2016 06/22/2016 Loan Payment Completed $131.94 $23,081.14 $23,749.20
19648115 06/21/2016 06/21/2016 Loan Payment Completed $191.94 $24,013.08 $23,881.14
13627667 06/20/2016 06/20/2018 Loan Payment Completed $131.94 $24,145.02 $24,013.08
19605358 06/17/2016 08/17/2016 Loan Payment Completed $191.94 $24,276.96 $24,148.02
13592476 06/16/2016 06/16/2016 Loan Payment Completed $131.94 $24,408.90 $24,276.96
19560196 06/15/2018 06/18/2016 Loan Payment Completed $191.94 $26,540.84 $24,408.90

Principal

"$88.49
$99.22
$39.01
$88.79
$88.58
$88.37
$88.17
$87.96
$87.75
$87.54
$87.33
$87.13
$86.92
$86.71
$86.51
$86.30
$86.10
$85.90
$85.69
$85.49
$85.29
$85.08
$84.88

Interest

 

$42.51
$42.72
$42.93
$43.15
$43.36
$43.57
$43.77
$43.98
$44.19
$44.40
$44.61
$44.81
$45.02
$45.23,
$45.43
$45.64
$45.84
$46.04
$46.25
$48.45
$46.65
$46.86
$47.06

Fees

$0.00

$0.00
$0.00
$0.00
$0.00
$0.00
$0.00
$0.00
$0.00
$0.00
$0.00
$0.00
$0.00
$0.00
$0.00
$0.00
$0.00
$0.00
$0.00
$0.00
$0.00
$0.00
$0.00_MEDIA

 

Transaction iniated Date Cleared Date Type
19595751 06/14/2016 06/14/2016 Loan Payment
13513740 06/13/2016 06/13/2016 Loan Payment
13496087 06/10/2016 06/10/2016 Loan Payment
13474422 06/09/2016 06/09/2016 Loan Payment
13446398 — 06/08/2016 ~—_ 06/08/2016 Loan Payment
13418524 06/07/2016 06/07/2016 Loan Payment
13400436 06/06/2016 06/06/2016 Loan Payment
13379597 06/03/2016 06/03/2016 Loan Payment
13362207 06/02/2016 06/02/2016 Loan Payment
13324632 06/01/2016 06/01/2016 Loan Payment
13302152 05/31/2016 05/31/2016 Loan Payment
13276030 05/27/2016 08/27/2016 Loan Payment
13259624 05/26/2016 + —_ 05/26/2016 Loan Payment
13231160 08/25/2016 08/25/2016 Loan Payment
13202476 05/24/2016 05/24/2016 Loan Payment
13185286 08/23/2016 08/23/2016 Loan Payment
13167768 05/20/2016 05/20/2016 Loan Payment
13150573 05/19/2016 05/19/2016 Loan Payment
13118328 = 05/18/2016 05/18/2016 Loan Payment
13095003 05/17/2016 05/17/2016 Loan Payment
13074721 05/16/2016 05/16/2016 Loan Payment
13054324 08/13/2016 08/13/2016 Loan Payment
13034791 05/12/2016 05/12/2016 Loan Payment

 

Status

 

Completed

Completed
Completed
Completed
Completed
Completed
‘Completed
Competed
‘Completed
Completed
‘Completed
Completed
‘Completed
Completed
Completed
Completed
Completed
‘Completed
Completed
‘Completed
Completed
‘Completed
Completed

 

 

Beginning
Balance

$24,672.78
$24,804.72
$24,936.68
$25,068.60
$25,200.54
$25,332.48
$25,464.42
$25,596.36
$25,728.30
$25,860.24
$25,992.18
$26,124.12
$26,256.06
$26,388.00
$26,519.94
$26,651.88
$26,783.82
$26,915.76
$27,047.70
$27,179.64
$27,311.58
$27,443.52
$27,578.46

 

Remaining
Balance

$24,540.84
$24,672.78
$24,804.72
$24,936.66
$25,068.60
$25,200.54
$25,332.48
$25,464.42
$25,596.36
$25,728.30
$25,860.24
$25,992.18
$26,124.12
$26,256.08
$26,388.00
$26,519.94
$26,651.88
$26,783.82
$26,915.76
$27,047.70
$27,179.64
$27,311.58
$27,443.52

 

 

Principal
$84.68
$84.48
$84.28
$84.08
$83.88
$83.68
$83.49
$83.20
$83.09
$82.89
$82.70
$82.50
$82.31
$62.11
$81.92
$81.72
$81.53
$81.34
$81.14
$80.95
$80.76
$80.57
$80.38

Interest

$47.26
$47.46
$47.66
$47.86
$48.08
$48.26
$48.45
$48.65
$48.85
$49.05
$49.24
$49.44
$49.63
$49.83
$50.02
$50.22
$50.41
$50.60
$50.80
$50.99
$51.18
$51.37
$51.56

 

$0.00
$0.00
$0.00
$0.00
$0.00
$0.00
$0.00
$0.00
$0.00
$0.00
$0.00
$0.00
$0.00
$0.00
$0.00
$0.00
$0.00
$0.00
$0.00
‘$0.00
$0.00
$0.00
$0.00__MEDIA-

Transaction initiated Date Cleared Date Type
13007878 05/1172016 08/11/2016 Loan Payment
12982220 08/10/2016 ~—_ 08/10/2016 Loan Payment
12965211 05/09/2016 05/09/2016 Loan Payment
12944991 05/06/2016 05/06/2016 Loan Payment
12925617 05/05/2016 +—_05/05/2016 Loan Payment
12881414 05/04/2016 + 05/04/2016 Loan Payment
12857056 05/03/2016 08/03/2016 Loan Payment
12822511 05/02/2016 05/02/2016 Loan Payment
12780240 04/29/2016 04/29/2016 Loan Payment
12763671 04/28/2016 04/28/2016 Loan Payment
12731465 04/27/2016 04/27/2016 Loan Payment
12708219 04/26/2016 04/26/2016 Loan Payment
12693477 04/25/2016 04/25/2016 Loan Payment
12675474 = 04/22/2018 += 04/22/2016 Loan Payment
12657683 04/21/2018 04/21/2016 Loan Payment
12624868 © 04/20/2016 04/20/2016 Loan Payment
12603991 04/19/2016 04/19/2016 Loan Payment
12587319 04/18/2016 04/18/2016 Loan Payment
12568506 04/15/2016 04/15/2016 Loan Payment
12551661 04/14/2016 04/14/2016 Loan Payment
12522930 04/13/2016 04/13/2016 Loan Payment
12498396 04/12/2016 04/12/2016 Loan Payment
12481332 04/11/2016 04/11/2016 Loan Payment

Completed
Completed
Completed
Completed
Completed
Completed
‘Completed
Completed
‘Completed
Completed
‘Completed
Completed
Completed
Completed
‘Completed
Completed
Completed
Completed
‘Completed
Completed
‘Completed
Completed
‘Completed

 

 

Beginning — Remaining
Balance "Balance
$27,707.40 $27,575.46
$27,839.34 $27,707.40
$27,971.28 $27,839.34
$28,103.22 $27,971.28
$28,235.16 $28,103.22
$28,367.10 $28,235.16
$28,499.04 $28,367.10
$28,630.98 $28,499.04
$28,762.92 $28,630.98
$28,894.86 $28,762.92
$29,026.80 $28,894.86
$29,158.74 $29,026.80
$29,290.68 $29,158.74
$29,422.62 $29,290.68
$29,554.56 $29,422.62
$29,686.50 $29,554.56
$29,818.44 $29,686.50
$29,950.38 $29,818.44
$30,082.32 $29,950.38
$30,214.26 $30,082.32
$30,346.20 $30,214.26
$30,478.14 $30,346.20
$30,610.08 $30,478.14

$79.24
$79.05
$78.87
$78.68
$78.49
$70.31
$78.12
$77.94
$77.75
$77.57
$77.38
$77.20
$77.02
$76.84
$76.85
$76.47
$76.20
$76.11

 

 

$0.00
$0.00
$0.00
$0.00
$0.00
$0.00
$0.00
$0.00
$0.00
$0.00
$0.00
$0.00
$0.00
$0.00
‘$0.00
$0.00
$0.00
$0.00
$0.00
$0.00
$0.00
$0.00
$0.00Transaction

 

 

12469317
12444961
12418364
12391770
12377522
12354115
12337137
12308789
12282581
12267596
12250334
12234822
12207098
12182873
12162270
12149446
12133112
12105768
12072430
12056424

12038675
12038674

MEDIA -

 

04/08/2016
04/07/2016
04/06/2016
04/05/2016
04/04/2016
04/01/2016
03/31/2016
03/30/2016
03/29/2016
03/28/2016
03/25/2016
03/24/2016
03/28/2016
03/22/2016
03/21/2016
03/18/2016
03/17/2016
03/16/2016
03/18/2016
03/14/2016

03/11/2016
03/11/2016

 

ip Initiated Date Cleared Date Type

04/08/2016 Loan Payment
04/07/2016 Loan Payment
oaio0%8 Lean Payment
04/05/2016 Loan Payment
04/04/2016 Loan Payment
0401/2016 Loan Payment
03/31/2016 Loan Payment
03/30/2016 Loan Payment
03/29/2016 Loan Payment
03/28/2016 Loan Payment
03/25/2016 Loan Payment
03/24/2016 Loan Payment
03/23/2016 Loan Payment
0272/2018 Loan Payment
021272018 Lean Payment
09/18/2018 Loan Payment
021172016 Lean Payment
09/8/2046 Loan Payment
03/15/2016 Loan Payment
oa1142018 Lean Payment
danse anaon
03/11/2016 Advance

 

Status

Compieted
Completed
Completed
Completed
‘Completed
Completed
Completed
‘Completed
Completed
Completed
Completed
Completed
‘Completed
Completed
Completed
Completed
‘Completed
Completed
Completed
‘Completed
‘Completed

Completed

Error = Amount

 

$131.94
$131.96
$131.96
$131.94
$131.96
$131.94
$131.94
$131.94
$131.94
$131.94
$131.94
$131.94
$131.94
$131.94
$131.94
$131.94
$131.94
$131.94
$131.94
$131.96
$625.00

$24,375.00

Beginning
Bal

$30,742.02
$90,873.96
$31,005.90
$31,137.84
$31,269.78
$31,401.72
$31,533.66
$31,665.60
$31,797.54
$31,929.48
$32,061.42
$92,193.36
$32,325.30
$32,457.24
$92,589.18
$92,721.12
$32,853.06
$32,985,00
$33,116.94
$33,248.88
$33,248.88
$93,248.88

Remaining
Balance

$30,610.08
$90,742.02
$30,873.96
$31,005.90
$31,137.84
$31,269.78
$31,401.72
$31,533.68
$31,665.60
$31,797.54
$31,929.48,
$32,061.42
$22,193.36
$32,325.30
$32,457.24
$92,589.18
$32,721.12
$92,853.08
‘$32,985.00
$33,116.94
$33,248.88
$33,248.88

Principal

 

Interest

$56.01
($56.19
$56.37
$56.55
$58.73
$56.90
($57.08
$57.26
$57.44
$5761
$57.79
$57.96
$58.14
($58.31
$58.49
$58.66
$58.04
$5901
$59.18
$59.36

$0.00

$0.00

Fees
$0.00
$0.00
$0.00
$0.00
$0.00
$0.00
$0.00
$0.00
$0.00
$0.00
$0.00
$0.00
$0.00
$0.00
$0.00
$0.00
$0.00
$0.00
$0.00
$0.00

$625.00
$0.00MEDIA -

Disclaimer: Due to the nature of ACH transactions, itcan take 24-48 business hours for an ACH transaction to clear your bank account.OnDeck>

THANK YOU FOR BUSINESS LOAN AND SECURITY
WORKING WITH US! AGREEMENT SUPPLEMENT

LOAN AMOUNT

 

$25,000

Dear Tad,
Your Information
ee
Business Name: Covert Security Services, Inc.
Owner Name: Tad Lamb
Below is a summary of your loan details. Your Bank : PNC BANK, OHIO

Routing number 041000124

Account number: *****3916

Congratulations on being approved for a small business
loan with On Deck Capital, Inc.! We want to thank you for
this opportunity to help your business grow.

   
 
      
 

BUSINESS INFOR

    

OWNER INFO!
Covert Security Services, Inc. Tad Lamb
801 Northpoint Pky, Ste 128 14861 Driftwater Dr

West Palm Beach FL, 33407 Winter Garden, FL 33407
“4015 4936

    

     

 

This Business Loan and Security Agreement Supplement is part of (and incorporated by reference into) the Business Loan and
Security Agreement. Borrower should keep this important legal document for Borrower's records.

Borrower Covert Security Services, Inc.

 

 

 

 

 

Lender On Deck Capital, Inc.
Loan Amount $25,000
Origination Fee
(Deducted at time of disbursement) $625.00
Disbursement Amount
(Loan Amount Jess Origination Fee. less any principal amount owed to $24,375.00
Lender from an existing loan or any amount used to pay off an existing
obligation owed to a third Party lender)
DAILY Payment Amount(Business days only) $131.94
Number of DAILY Payments (Business days only) 252
Payment Schedule 252 payments of $131.94 due each Business day.

("Business day” means any Monday through Friday, except for
Federal Reserve holidays)
Interest Expense Multiplier

(Total Repayment Amount divided by the Loan Amount. This reflects 1.33
per dollar interest cost of the loan)

Total Interest Expense
(Does not include any Fees) $8,248.68

Total Repayment Amount $33.2.
(Loan Amount plus Total interest Expense) 48.88MEDIA -

    

"Prepayment Interest Reduction Percentage” of 25% (with respect

Pi ment to unpaid interest remaining on this loan) will be applied to the extent
. Prepay’ a that the Borrower prepays this Loan in whole in accordance with, and
f th
(See Section 10 of the nen ‘Sey Security Agreement for | siect to, Section 10 of the Business Loan and Security Agreement.
Note that 75% of remaining unpaid interest will still be due upon
prepayment.

 

Remaining unpaid interest on this Loan will be eligible to be forgiven by
Lender if: (i) Borrower is current on its scheduled payments with
Renewals respect to this Loan and, (ii) while this Loan is outstanding, Borrower
enters into a business loan and security agreement for a new

qualifying term loan with Lender, a portion of the proceeds of which is
used to repay this Loan in whole.

 

Returned Payment Fee: $25.00
Other Fees

 

 

Late Fee: $10.00 (maximum $50 within any 20 day period)

 

   

PRICING METRIC

 

 

METRIC. | APPLIED To EXPLANATION OF METRIC CALCULATION OF METRIC
YOUR LOAN
TotalLoan | 55 a73.99 The total amount that you will pay in Total Interest Expense + Origination Fee.
Cost _— interest and origination fees. With respect to your Loan: $8,248.88 + $625.00 = $8,873.88
Cents on the 86 For each dollar borrowed, the amount of | 'l! Interest pense + Loan Doles Bornean as Cents of
Dollar interest that will need to be repaid. p .

With respect to your Loan: $8,248.88 + $25,000.00 = 33¢

 

The total amount of interest that you will
Pay as a percentage of the amount

Total Interest borrowed. Total Interest Expense + Loan Amount (Expressed as a
Percentage 33% Note that the TIP is not annualized, and Percentage).
(TIP)

therefore use caution in comparing to
loans expressed in annualized terms or
with terms of different durations.

With respect to your Loan: $8,248.88 + $25,000.00 = 33%

 

 

 

 

    

Lender uses a system of risk-based pricing to determine interest charges and fees. Risk-based pricing is a

system that evaluates the risk factors of your application and adjusts the interest rate up or down based on this

Loan Pricing Disclosure | ‘5 evaluation. ahough Lender believes that is loan process provides expedited turnaround time and efficient
access to capital, this loan may be a higher cost loan than loans that may be available through other lenders.

The proceeds of the requested Loan may solely be used for the specific purposes as set forth in the Use of
Proceeds Certification of the Business Loan and Security Agreement. IN ADDITION, THE LOAN WILL NOT BE
Loan For Specific USED FOR PERSONAL, FAMILY OR HOUSEHOLD PURPOSES. Borrower understands that Borrower's
Purposes Only agreement not to use the Loan proceeds for personal, family or household purposes means that certain important
duties imposed upon entities making loans for consumer/personal purposes, and certain important rights
conferred upon consumers, pursuant to federal or state law will not apply to this transaction.

 

 

 

 

 

If you have any questions, please call us at (888) 828-5717 (we have support available
Monday - Friday 8am - 8pm EST and Saturdays 8:30am - 5:30pm EST) or email support@ondeck.com.MEDIA - —

Business Loan and Security Agreement

 

1. INTRODUCTION

This Business Loan and Security Agreement (together with the accompanying Business Loan and
Security Agreement Supplement and the accompanying Authorization Agreement for Direct Deposit
(ACH Credit) and Direct Payments (ACH Debits), this “Agreement’) governs your business loan
(‘Loan’) from On Deck Capital, Inc. Please read it and keep it for your reference. In this Agreement,
the words “you,” “your” and “Borrower” mean the Borrower identified on the signature page of this
Business Loan and Security Agreement. Each Guarantor identified on the signature page of this
Business Loan and Security Agreement shall be referred to individually as “Guarantor” and
collectively as “Guarantors” in this Agreement. The words “Lender”, “we”, “us”, and “our” mean On
Deck Capital, Inc. or its successor(s) and assign(s).

2. EFFECTIVE DATE.

This Agreement begins on the date we accept this Agreement in Virginia. Borrower understands and
agrees that Lender may postpone, without penalty, the disbursement of amounts to Borrower until all
required security interests have been perfected and Lender has received all required personal
guarantees or other documentation.

3. AUTHORIZATION.

Borrower agrees that the Loan made by Lender to Borrower shall be conclusively deemed to have
been authorized by Borrower and to have been made pursuant to a duly authorized request on its
behalf.

4, LOAN FOR SPECIFIC PURPOSES ONLY.

   

addition, the Loan will not be used for personal, family or household purposes. Borrower

understands that Borrower's agreement not to use the Loan proceeds for personal, family or
household purposes means that certain important duties imposed upon entities making loans for
consumer/personal purposes, and certain important rights conferred upon consumers, pursuant to
federal or state law will not apply to the Loan or the Agreement. Borrower also understands that
Lender will be unable to confirm whether the use of the Loan conforms to this section. Borrower
agrees that a breach by Borrower of the provisions of this section will not affect Lender's right to

(i) enforce Borrower's promise to pay for all amounts owed under this Agreement, regardless of the
Purpose for which the Loan is in fact obtained or (ii) use any remedy legally available to Lender,

even if that remedy would not have been available had the Loan been made for consumer purposes.

5. DISBURSEMENT OF LOAN PROCEEDS AND MAINTENANCE OF BORROWER'S BANK ACCOUNT.

lf Borrower applied and was approved for a Loan, Borrower's Loan will be disbursed upon approval
as provided in the accompanying Authorization Agreement for Direct Deposit (ACH Credit) andDirect Payments (ACH Debits). Borrower agrees to maintain Direct Payments (ACH Debits) in its
operating account which is the account that was reviewed in conjunction with underwriting and
approval of this Loan (including keeping such account open until the Total Repayment Amount had
been completely repaid).

6. PROMISE TO PAY.

Borrower agrees to pay Lender the Total Repayment Amount shown in the accompanying Business
Loan and Security Agreement Supplement in accordance with the Payment Schedule shown in the
accompanying Business Loan and Security Agreement Supplement. Borrower agrees to enroll in
Lender’s Automatic Payment Plan and authorizes Lender to collect required payments as provided
in the accompanying Authorization Agreement for Direct Deposit (ACH Credit) and Direct Payments
(ACH Debits). If required by Lender, Borrower further agrees and authorizes Lender or its servicer to
collect required payments from a transfer account established pursuant to certain Transfer Account
Loan Documentation that will be provided by Lender in connection with this Business Loan and
Security Agreement if applicable.

7. ALTERNATIVE PAYMENT METHODS.

If Borrower knows that for any reason Lender will be unable to process a payment under Lender's
Automatic Payment Plan, then Borrower must either restore sufficient funds such that the missed
payment can be collected as provided in the accompanying Authorization Agreement for Direct
Deposit (ACH Credit) and Direct Payments (ACH Debits), or promptly mail or deliver a check to
Lender in the amount of the missed payment or, if offered, make the missed payment by any pay-by-
phone or on-line service that Lender may make available from time to time. If Borrower elects to
send payments on Borrower's Account by postal mail, then Borrower agrees to send such payments
to On Deck Capital, 901 N Stuart St, Suite 700, Arlington, VA 22203, Attn: Director of Operations. All
alternative payments must be made in good funds by check, money order, wire transfer, automatic
transfer from an account at an institution offering such service, or other instrument in U.S. Dollars.
Borrower understands and agrees that payments made at any other address than as specified by
Lender may result in a delay in processing and/or crediting. If Borrower makes an alternative
payment on Borrower's Loan by mail or by any pay-by-phone or on-line service that Lender makes
available while Borrower is enrolled in the Automatic Payment Plan, Lender may treat such payment
as an additional payment and continue to process Borrower's scheduled Automatic Payment Plan
payments or may reduce any scheduled Automatic Payment Plan payment by the amount of any
such additional payment received.

8. APPLICATION OF PAYMENTS.

Subject to applicable law, Lender reserves the right to allocate and apply payments received on
Borrower's Loan between principal, interest and fees in any manner Lender chooses in Lender's
sole discretion, it being understood and agreed that any fees and interest will generally be paid
during the earlier portion of the term.

9. POSTDATED CHECKS, RESTRICTED ENDORSEMENT CHECKS AND OTHER DISPUTED OR QUALIFIED
PAYMENTS.MEDIA -

Lender can accept late, postdated or partial Payments without losing any of Lender's rights under
this Agreement (a postdated check is a check dated later than the day it was actually presented for
payment). Lender is under no obligation to hold a postdated check and Lender reserves the right to
process every item presented as if dated the same date received by Lender or Lender’s check
Processor unless Borrower gives Lender adequate notice and a reasonable opportunity to act on it.
Except where such notice and opportunity is given, Borrower may not hold Lender liable for
depositing any postdated check. Borrower agrees not to send Lender partial payments marked
“paid in full,” “without recourse,” or similar language. If Borrower sends such a payment,
Lender may accept it without losing any of Lender’s rights under this Agreement. All notices
and written communications concerning postdated checks, restricted endorsement checks
(including any check or other payment instrument that indicates that the payment constitutes
“payment in full” of the amount owed or that is tendered with other conditions or limitations
or as full satisfaction of a disputed amount) or any other disputed, nonconforming or
qualified payments, must be mailed or delivered to On Deck Capital, Client Service, 901 N
Stuart St, Suite 700, Arlington, VA 22203, Attn: Director of Operations.

10. PREPAYMENT.

Borrower may prepay Borrower's Loan in whole on any Business day by paying Lender the sum
total of the Total Repayment Amount, any Returned Payment Fees, and any Late Fees, in each case
as described in the accompanying Business Loan and Security Agreement Supplement less (i) the
amount of any Loan payments made prior to such prepayment and (ii) the product of (x) the
Percentage identified as the applicable Prepayment Interest Reduction Percentage in the
accompanying Business Loan and Security Agreement Supplement; and (y) the aggregate amount
of unpaid interest remaining on the Borrower's Loan as of such date as determined by Lender's
records in accordance with Section 8. Borrower may prepay Borrower's Loan in part on any
Business day and such payment shall be applied against the Total Repayment Amount, any
Returned Payment Fees, and any Late Fees, in each case as described in the accompanying
Business Loan and Security Agreement Supplement.

11. SECURITY INTEREST.

Borrower hereby grants to Lender, the secured party hereunder, a continuing security interest in and
to any and all “Collateral” as described below to secure payment and performance of all debts,
liabilities and obligations of Borrower to Lender hereunder and also any and all other debts,
liabilities and obligations of Borrower to Lender of every kind and description, direct or indirect,
absolute or contingent, primary or secondary, due or to become due, now existing or hereafter
arising, related to the Loan described in this Agreement, whether or not contemplated by the parties
at the time of the granting of this security interest, regardless of how they arise or by what agreement
or instrument they may be evidenced or whether evidenced by any agreement or instrument, and
includes obligations to perform acts and refrain from taking action as well as obligations to pay
money including, without limitation, all interest, other fees and expenses (all hereinafter called
“Obligations”). The Collateral includes the following property that Borrower (or Guarantor, if
applicable, pursuant to Section 12) now owns or shall acquire or create immediately upon the
acquisition or creation thereof: (i) any and all amounts owing to Borrower now or in the future from
any merchant processor(s) processing charges made by customers of Borrower via credit card or
debit card transactions; and (ii) all other tangible and intangible personal property, including, but notMEDIA-

limited to (a) cash and cash equivalents, (b) inventory, (c) equipment, (d) investment property,
including certificated and uncertificated securities, securities accounts, security entitlements,
commodity contracts and commodity accounts, (e) instruments, including promissory notes (f) chattel
Paper, including tangible chattel paper and electronic chattel paper, (g) documents, (h) letter of credit
rights, (i) accounts, including health care insurance receivables, (j) deposit accounts, (k) commercial
tort claims, (I) general intangibles, including payment intangibles and software and (m) as extracted
collateral as such terms may from time to time be defined in the Uniform Commercial Code. The
security interest Borrower (or Guarantor, if applicab