Assignment 9

According to the U.S. Securities and Exchange Commission official website database, Energy Services of America Corporation has a loan agreement with United Bank Inc. In document ex10_11314.htm, Energy Services received a loan of $8,813,274.64 to refinance existing debts. This loan was agreed upon on January 31, 2014. Starting March 1 of this year, Energy Services must make a monthly payment of $172,472.97 for 59 consecutive months. The contract the parties agreed upon was very lengthy and every item was outlined and broken down. The agreement was so detailed, it even had the time of the day in which Energy Services had to make their payments (2 p.m.). Also, Doug Reynolds and Marshall Reynolds are guarantors, meaning they agree to partially guarantee the loan is repaid.