PROMISSORY NOTE
Exhibit 10.2
| June 15, 2011 | $ 25,000.00 |
Whereas Xxxxxx X. XxXxxxx (“Lender”), having an address of 000 Xxxxx Xxxxx, XxXxxx, XX 00000, has loaned $ 25,000.00 to Kenergy Scientific, Inc. (“Borrower”), a New Jersey corporation, having an address of 0 Xxxxxxxxxxxx Xx., Xxxxxxxxxx, XX 00000 on this 15th day of June, 2011, receipt of which is acknowledged;
Now, Therefore, the parties agree as follows:
Borrower shall pay Lender the full sum of $ 25,000.00, plus 9 % per annum interest on or before January 15, 2012. In the event that Xxxxxxxx fails to make payment in full on that date, then this Note shall automatically become a default instrument and Lender may take whatever action he may elect to recover his loss, including legal action, with continuing accrual of 9 % per annum interest and attorney’s fees.
| June 15, 2011 | Kenergy Scientific, Inc. |
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Xxxxxxx X. Xxxxx, CEO
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