EXHIBIT 1
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LOAN AGREEMENT
This loan agreement is made this 11th day of August, 1998 whereby ▇▇▇▇▇▇▇ ▇.
▇▇▇▇, ▇▇. agrees to lend ▇▇▇▇▇▇▇ ▇. ▇▇▇▇, ▇▇. Five Hundred Twelve Thousand
Seventy Two Dollars and Fifty Cents ($512,072.50) to exercise 1,764,750 options
of Avesis Incorporated common stock.
The terms of this agreement shall be 5% interest over a fifteen (15) year period
and the payments shall be $49,334.24 per year. The payments shall begin one year
from today on August 11, 1999.
The stock will be held in escrow until the loan is fully repaid.
AGREED AND ACCEPTED
/s/ ▇▇▇▇▇▇▇ ▇. ▇▇▇▇, ▇▇. 8/11/98
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▇▇▇▇▇▇▇ ▇. ▇▇▇▇, ▇▇. Date
/s/ ▇▇▇▇▇▇▇ ▇. ▇▇▇▇, ▇▇. 8/11/98
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▇▇▇▇▇▇▇ ▇. ▇▇▇▇, ▇▇. Date
State of Maryland
County of ▇▇▇▇▇▇▇
On this 11TH day of AUGUST, 1998, before me, the undersigned, personally
appeared ▇▇▇▇▇▇▇ ▇. ▇▇▇▇, ▇▇., who acknowledged himself as the lender, and
personally appeared ▇▇▇▇▇▇▇ ▇. ▇▇▇▇, ▇▇., who acknowledged himself as the
borrower, in the foregoing instrument for the purposes contained therein by
signing his name.
In witness whereof I hereunto set my hand and official seal.
/s/ ▇▇▇ ▇▇▇▇▇▇▇
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Notary Public
12/27/98
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My commission expires