EXHIBIT 10.13
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FIVE YEAR CAPITAL NOTE
$2,800,000.00 June 13, 2003
FOR VALUE RECEIVED American Indian CigCo, LLC and CigCo-EPIC Venture,
(hereinafter called "MAKER"), hereby promise to pay to the order of the
Xxxx.Xxx, Inc., or Assigns (hereinafter called "PAYEE" whether one or more), at
Albuquerque, New Mexico or at such other address as the Payee may designate from
time to time in writing to Maker, the principal sum of TWO MILLION EIGHT HUNDRED
THOUSAND DOLLARS ($2,800,000.00) pursuant to a Finance Agreement attached
hereto, as follows:
[] Maker to pay seven percent (7%) of the Principal Amount of $2,800,000 of the
Obligation to Payee annually in arrears for a period of one (1) year
beginning July 31, 2004 and continuing each July 31 until paid
[] Maker to pay the Principal Amount of Two Million Eight Hundred Thousand
Dollars ($2,800,000) at the end of the fifth year-the Maturity Date.
[] Maturity Date of the Principal Amount is July 31, 2008
All past due payments due on this Note shall bear interest at the rate of
ten percent (10%) per annum from maturity until paid. All sums called for,
payable, or to be paid hereunder shall be paid in lawful money of the United
States of America, which at the time of payment is legal tender for the payment
of public and private debts therein.
In the event of a default in the timely payment of any amount due hereon,
in whole or in part, that remains uncured for a period of fifteen (15) days or
more after the giving by the holder of this Note to Maker or Purchaser herein of
a written notice setting forth the details of such default, then the Holder of
this Note shall have right and option, at any time after the end of such fifteen
(15) day period, in addition to any and all other rights, remedies or recourses
available to it, to declare the unpaid principal balance and accrued interest on
the Note at once due and payable. Time is of the essence with respect to payment
on this Note.
Any notice required or permitted to be given hereunder by one party to the
other shall be in writing and the same shall be given and shall be deemed to
have been served and given if delivered in person to the address set forth
hereinafter for the party to whom the notice is given, or if placed in the
United States, postage prepaid, by registered or certified mail, return receipt
requested, addressed to the party at that address hereinafter specified. The
address of the Payee for all purposes under this Note and all notices
hereinafter shall be 0000 Xxxx Xxxx., X. X., Xxxxx X, Xxxxxxxxxxx, Xxx Xxxxxx
00000. The address of the Maker for all purposes under this Note and for all
notices hereunder shall be: 000 Xxxx Xxx. S. W., Albuquerque, NM 87102.
Either party may designate another address within the forty-eight (48)
contiguous states of the United States of America for all purposes of the Note
by giving the other party not less than fifteen (15) days advance written notice
of such change of address in accordance with the provisions hereof.
If, after default, the Note is placed in the hands of an attorney for
collection, or is collected through the probate court, bankruptcy court, or by
any other legal or judicial proceedings, then Maker shall pay the reasonable
attorneys fees of the Holder of this Note. This is a non-recourse note.
IN WITNESS WHEREOF, Xxxxx has duly executed this Note as of the date and year
above first written.
MAKER
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BY: AMERICAN CIGCO, LLC
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BY: CIGCO-EPIC VENTURE
