PROMISSORY NOTE
1.
Names:
Borrower:
Xxx Xxxxx
00000 Xxxxxxx Xx., Xxxxx 000
Dallas, TX 75230-1303
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 $199,800.00 (One hundred and ninety-nine thousand eight hundred dollars)
3.
Principal Payment.
In conjunction with the consulting agreement dated June 19, 2013 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 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 June 19, 2013; for which the Borrower is subsequently
require to, at its own expense from another, 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: this 19th day of June, 2013
Lender: New Opportunity Business Solutions, Inc
/s/ Xxxxx Xxxxxxx__________________________
By: Xxxxx Xxxxxxx, CEO
Borrower: ARRAKIS MINING RESEARCH INC.
/s/
Xxx Xxxxx________________________
By: Xxx Xxxxx< CEO
