LOAN AGREEMENT
THIS AGREEMENT made the March 31, 2020.
BETWEEN:
XXXXX XXXXX of 0000 X. Xxxxxxx Xxxxx, Xxxxx 000, Xxx Xxxxxxx, XX 00000 (“Lender”).
OF THE FIRST PART
AND:
EQUITABLE MINERAL AND DEVELOPMENT, INC. , a company incorporated pursuant to the laws of Delaware with an address at 0000 X. Xxxxxxx Xxxxx, Xxxxx 000, Xxx Xxxxxxx, XX 00000 ("Company").
OF THE SECOND PART
WHEREAS:
A. Company requires funding in connection with its business operations.
B. Lender has agreed to loan the amount up to US$50,000 to the Company, on certain terms and conditions contained herein.
C. Lender has already advanced $38,000.00 out of the $50,000.00 herein.
NOW THEREFORE THIS AGREEMENT WITNESSETH the parties hereto agree as follows:
1.Lender hereby agrees to loan the amount up to US$50,000. Lender has already advanced $38,000.00 of the $50,000.00 herein.
0.Xxxx funds advanced shall be non-interest bearing, secured and payable upon demand.
3.Any additional funds that Lender loans to Company subsequent to this Agreement shall be subject to the same terms as this Agreement, unless otherwise agreed in writing.
IN WITNESS WHEREOF the parties hereto have hereunto affixed their respective hands, both as of the day and year first above written.
| EQUITABLE MINERAL AND DEVELOPMENT, INC. |
|
|
/s/ Xxxxx Xxxxx | /s/ Xxxxxx Xxxx |
Xxxxx Xxxxx | Authorized Signatory |
