Common use of PRINCIPAL, INTEREST AND PAYMENT Clause in Contracts

PRINCIPAL, INTEREST AND PAYMENT. FOR VALUE RECEIVED, the undersigned, (“Franchisee”), promises to pay to FIESTA INSURANCE FRANCHISE CORPORATION, a Delaware corporation (ʺFranchisorʺ), at the address specified for notice to Franchisor in Section 8 of this Promissory Note (or at such other place as Franchisor shall specify in writing), in lawful money of the United States of America, the principal amount of DOLLARS ($ ), together with interest thereon at a fixed rate equal to the “Prime Rate” of interest in effect from time‐to‐time, as published by the Western Edition of the Wall Street Journal, which is % as of the date of this Promissory Note, plus 4%, not to exceed the maximum interest rate allowed by applicable law. Franchisee must also pay Franchisor a minimum loan fee equal to $500 less the total amount of interest paid to date when the Promissory Note is paid in full. An additional twenty‐five dollars ($25) for each tax return Franchisee files will be collected and applied against the principal amount due under this Promissory Note for each Fiesta franchised business owned by Franchisee. Franchisee shall pay Franchisor the principal and interest due under this Promissory Note in full on , 20 . Notwithstanding the foregoing, if the purpose of this loan is for (i) Franchisee’s purchase of the franchise for the Fiesta Insurance franchised business (the ”Franchised Business“) located at (the “Franchised Location”); (ii) the remodeling of the Franchised Location for the Franchised Business; (iii) the transfer of any interest in the franchise or the Franchise Agreement for the Franchised Business (the ”Franchise Agreement“); or (iv) any other purpose, Franchisee shall open (or re‐open, as the case may be), the Franchised Business for business within sixty (60) days from the date of this Promissory Note. If the purpose of this loan is for the purchase of the Franchised Business, the Franchised Business must conform to Franchisor’s current corporate design standards as of the date of this Promissory Note.

PRINCIPAL, INTEREST AND PAYMENT. FOR VALUE RECEIVED, the undersigned, _Sapigao Insurance Agency,Inc (“Franchisee”), promises to pay to FIESTA INSURANCE FRANCHISE CORPORATION, a Delaware corporation (ʺFranchisorʺ), at the address specified for notice to Franchisor in Section 8 of this Promissory Note (or at such other place as Franchisor shall specify in writing), in lawful money of the United States of America, the principal amount of Sixty Thousand DOLLARS ($ $_60,000 ), together with interest thereon at a fixed rate equal to the “Prime Rate” of interest in effect from time‐to‐time, as published by the Western Edition of the Wall Street Journal, which is 5_ % as of the date of this Promissory Note, plus 4%, not to exceed the maximum interest rate allowed by applicable law. Franchisee must also pay Franchisor a minimum loan fee equal to $500 less the total amount of interest paid to date when the Promissory Note is paid in full. An additional twenty‐five dollars ($25) for each tax return Franchisee files will be collected and applied against the principal amount due under this Promissory Note for each Fiesta franchised business owned by Franchisee. Franchisee shall pay Franchisor the principal and interest due under this Promissory Note in full on December 31 _, 20 22. Notwithstanding the foregoing, if the purpose of this loan is for (i) Franchisee’s purchase of the franchise for the Fiesta Insurance franchised business (the ”Franchised Business“) located at 0000 Xxxx Xxx, Xxxxx Xxxxxxxxx, XX 00000 (the “Franchised Location”); (ii) the remodeling of the Franchised Location for the Franchised Business; (iii) the transfer of any interest in the franchise or the Franchise Agreement for the Franchised Business (the ”Franchise Agreement“); or (iv) any other purpose, Franchisee shall open (or re‐open, as the case may be), the Franchised Business for business within sixty (60) days from the date of this Promissory Note. If the purpose of this loan is for the purchase of the Franchised Business, the Franchised Business must conform to Franchisor’s current corporate design standards as of the date of this Promissory Note.