EXHIBIT 10.24
Lilly Beter Capital Group, Ltd.
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November 11, 2004
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New Visual Corporation
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Dear Ray:
This letter is intended to confirm our recent verbal agreement to extend the
maturity date of the remaining balance of the Note Payable obligation of New
Visual Corporation to Lilly Beter Capital Group and/or the entities listed
below. The note obligation shall become due and payable in full within three
days of Payee's written request for payment, provided, however, that Payee shall
not be entitled to make a payment request prior to January 31, 2005. The note
will continue to earn interest at 6% per annum, payable at termination or at
time of repayment which can be earlier without penalty.
Very truly yours,
/s/ Lilly Beter
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Lilly Beter, President
Cc: Epic Events Trust, Ltd.
Exodus Systems Trust, Ltd.
Prospect Development Trust, Ltd.
Pearl Street Investments Trust, Ltd.
Riviera Bay Holdings Trust, Ltd.