PROMISSORY NOTE
The amount of $27,500.00 FOR VALUE RECEIVED, BORROWER guarantees to settle towards the purchase of LENDER bucks along with interest thereon at a consistent level of 7 per cent (per cent) per year.
EXTRA LOAN TERMS
The BORROWER and LENDER, hereby further set forth their legal rights and responsibilities one to the other under this Loan Agreement and Promissory Note and consent to be appropriate bound as follows:
Principal Loan Amount $27,500.00
Loan Repayment Terms.
Last interest re re re payment to be determined at the time of last re re payment and due instantly thereto.
As security for payment of Loan Amount, BORROWER agrees to place forth a complete of 250,000 Sanguine Corp (SGUI) typical shares. Lender realizes that these stocks are limited under Rule 144 of this Securities Act of 1933. Upon standard of every of this re re re re payments as defined in paragraph В“AВ” above, LENDER may need launch of all В“Collateral stocksВ” to fulfill Note.
Way of Loan Payment.
The BORROWER shall make all payments called at under this loan contract by giving check or any other negotiable installment loans SC instrument made payable towards the following person or entity during the target suggested:
If LENDER offers written notice to BORROWER that a various target shall be utilized in making re payments under this loan contract, BORROWER shall make use of the brand brand brand new target therefore written by LENDER.
The incident of any associated with after occasions shall constitute a Default by the BORROWER associated with the regards to this loan contract and note that is promissory
BORROWERВ’S failure to pay for any quantity due as interest or principal regarding the date needed under this loan contract.
BORROWER seeks a purchase of relief beneath the Federal Bankruptcy laws and regulations.
A federal income tax lien is filed contrary to the assets of BORROWER.
Additional Conditions Regarding Default.
Addressee and Address to which LENDER is always to provide BORROWER written notice of standard:
If BORROWER offers written notice to LENDER that a address that is different be utilized, LENDER shall make use of that target for offering notice of standard ( or just about any other notice called for herein) to BORROWER.
Cure of Default. Upon standard, LENDER shall give BORROWER written notice of standard. Mailing of written notice by LENDER to BORROWER via U.S. Postal Service Certified Mail shall constitute prima facie evidence of distribution. BORROWER shall have 15 times after receipt of written notice of standard from LENDER to cure stated default. In the event of standard due entirely to BORROWERВ’S failure to help make payment that is timely called for in this loan contract, BORROWER may cure the standard by either: (i) making complete re re re payment of every principal and accrued interest (including interest on these quantities) whoever payment to LENDER is overdue beneath the loan contract and, additionally, the late-payment penalty described below; or (ii) launch collateral to LENDER as described in paragraph B В“CollateralВ”, above.
Penalty for Late Payment. There shall be imposed upon BORROWER a 2% penalty for almost any belated repayment computed upon the total amount of any major and accrued interest whoever re re payment to
LENDER is overdue under this loan contract and which is why LENDER has delivered a notice of standard to BORROWER
Indemnification of Lawyers Costs and Out-of-Pocket Expenses. Should any party materially breach this contract, the party that is non-breaching be indemnified by the breaching party for the reasonable solicitors charges and out-of-pocket expenses which in just about any way connect with, or had been precipitated by, the breach with this contract. The definition of В“out-of-pocket costsВ”, as utilized herein, shall perhaps perhaps perhaps perhaps not consist of profits that are lost. a standard by BORROWER that is perhaps not treated within 15 times after finding a written notice of default from LENDER takes its product breach for this contract by BORROWER.
Events Which Can Be Not People.
If any Party for this contract is apart from someone (i.e., a firm, a Limited Liability Company, a Partnership, or even a Trust), stated Party, and also the individual signing with respect to said Party, hereby represents and warrants that every actions and actions have already been taken beneath the entityВ’s governing instruments to authorize the entry into this Loan contract. Breach of every representation found in this paragraph is recognized as a product breach for the Loan Agreement.
Integration.
This contract, like the accessories mentioned within the body as included by guide, sets forth the whole contract between the Parties with regard into the subject material hereof. All previous agreements, representations and warranties, express or implied, dental or written, with regards to the subject matter hereof, are superseded by this contract. This might be a built-in contract.
Severability.
Any provision of this Agreement is deemed to be void, invalid, or unenforceable, that provision shall be severed from the remainder of this Agreement so as not to cause the invalidity or unenforceability of the remainder of this Agreement in the event. All staying conditions of the Agreement shall continue in full then force and impact. If any supply will be considered invalid because of its range or breadth, such supply will be considered legitimate to your level regarding the range and breadth allowed for legal reasons.
Modification.
Except as otherwise supplied in this document, this contract could be modified, superseded, or voided just upon the written and finalized contract of this Parties. Further, the real destruction or loss in this document shall never be construed as an adjustment or termination associated with the contract included herein.
Exclusive Jurisdiction for Suit in Case of Breach.
The Parties, by stepping into this contract, submit to jurisdiction in State of Nevada for adjudication of any disputes and/or claims between your events under this contract. Moreover, the Parties hereby concur that the courts of State of Pennsylvania shall have exclusive jurisdiction over any disputes between your events in accordance with this contract, whether said disputes noises in contract, tort, or other regions of what the law states.
This contract will probably be interpreted under, and governed by, the statutory legislation associated with the State of Nevada.
IN WITNESS WHEREOF and acceptance that is acknowledging contract associated with the foregoing, BORROWER and LENDER affix their signatures hereto.