PROMISSORY NOTE
PROMISSORY NOTE
1.
Names:
Borrower:
Tiluro Inc.
C/O Xxxxx Xxxxxx
_________________________________
_________________________________
Lender:
New Opportunity Business Solutions, Inc
531 Airport North Office Park
Fort Xxxxx, Indiana 46825
Xxxxx Xxxxxxx, CEO
2.
Promise to Pay.
For value received, Borrower promises to pay Lender USD$199,800.00 (One hundred and ninety-nine thousand eight hundred dollars)
3.
Principal Payment.
In conjunction with the Consulting Agreement dated May 15, 2014 the principal amount plus 10%
APR is hereby declared due and payable upon request.
(i) Borrower can, at any point, pay the Lender the Principal and interest amount in cash.
4.
Collection Costs.
If Xxxxxx prevails in a lawsuit to collect on this note, Xxxxxxxx will pay Xxxxxx's costs and lawyers'
fees in an amount the court finds to be reasonable.
5.
Notices.
All notices must be in writing. A notice may be delivered to Borrower or Lender at the address
specified in section 1, above, or to a new address Borrower or Lender has designated in writing. A notice may be delivered:
(1) in person
(2) by certified mail, or
(3) by overnight courier.
6. Security.
Xxxxxxxx agrees that until the principal and interest owed under this Promissory Note are paid in full,
or otherwise discharged by the Lender, this note will be secured by a general security interest over all of the assets of the Company.
7. Allowable Off-Sets
If the Lender fails to deliver any of the services outlined in Section 3 of the Consulting Agreement dated May 15, 2014; for which the Borrower is subsequently required to, at its own expense, obtain from another party, these expenses /costs shall be deducted from the balance due under this Promissory Note.
8. Governing Law.
This promissory note will be governed by and construed in accordance with the laws of the State
of Florida.
9. Severability.
If any court determines that any provision of this promissory note is invalid or unenforceable, any
invalidity or unenforceability will affect only that provision and will not make any other provision of this agreement invalid or unenforceable and such provision shall be modified, amended, or limited only to the extent necessary to render it valid and enforceable.
Dated at Liberty, Texas this 16th day of May, 2014
For Lender:
New Opportunity Business Solutions, Inc
______________________________
By: Xxxxx Xxxxxxx, CEO
For Borrower:
Tiluro Inc.
______________________________
Per: Xxxxx Xxxxxx, President
