LOAN EXTENSION AGREEMENT



         This Loan Extension Agreement (the "Agreement") is made and dated as of

this 26th day of June, 2000 between Globalmedia.com, a Nevada Corporation (the

"Borrower") and RealNetworks, Inc., a Washington Corporation, with its principal

place of business at 2601 Elliott Avenue, Seattle, Washington 98121 (the

"Lender").



                                    RECITALS



         A. Pursuant to the terms of the RealChannels Agreement dated January

19, 2000, the Livestations Agreement dated November 1, 1999, the Gidget

Sponsorship Advertising Insertion Order, the On-going Advertising Insertion

Order, the Custom Software Upgrades and Support Terms and Conditions Addendum

dated as of January 19, 2000, and a Release and Settlement Agreement stamped

February 16, 2000, all between Borrower and Lender (collectively, the "Subject

Contracts"), Borrower was obligated to to pay Lender the aggregate sum of

$2,000,000.00 on or before June 15, 2000 (the "Sum").



         B. The due date for the Sum was no later than June 15, 2000. The

balance due as of June 15, 2000 is as follows:



{TABLE}

{CAPTION}

---------------------------------------------- ----------------------------

                ITEM                                     AMOUNT

---------------------------------------------- ----------------------------

{S}                                            {C}

                                               $2,000,000.00

Principal as of June 15, 2000

---------------------------------------------- ----------------------------

---------------------------------------------- ----------------------------

---------------------------------------------- ----------------------------

---------------------------------------------- ----------------------------

{/TABLE}



         C. Borrower is in default under the Subject Contracts, and the Sum is

now due and payable in full. Borrower has requested that Lender enter into a

loan extension arrangement for repayment of the Sum. Lender has agreed to enter

into such a loan extension arrangement with Borrower on the terms and subject to

the conditions set forth in this Agreement.



         D. This Agreement is intended to resolve all disputes among Lender and

Borrower as of the date hereof, to permit Borrower the Payment Schedule and

Terms set forth below, to reassure Lender that Borrower will pay the Sum in

full, and to give Lender the benefit of the representations and warranties made

by Borrower below.





              NOW THEREFORE, in consideration of the above recitals and for

other good and valuable consideration, and in consideration for Lender

accommodating Borrower by extending the due date of the Sum and making

modifications to the Subject Contracts, the receipt and adequacy of which are

hereby acknowledged, the parties hereto agree as follows:

Home        Intelligence        Services        Subscriptions        News        About Us

Contact Us       Terms of Use       Resend Documents       Shopping Cart

Copyright © 2008 The Consus Group LLC