PROMISSORY NOTE
PROMISSORY NOTE
and
$___________
____________
Amount
Date
For value received, the undersigned maker (“Maker”), whose address is 000 Xxxxxxxxx Xxxxxx, Xxxxx 0000, Xxx
Xxxx, XX 00000, promises to pay to the order of ____________ (“Lender”), whose address is 000 Xxxxx Xxxxxx,
#0X, Xxx Xxxx, XX 00000, the principal sum of ___________ Dollars ($_______) together with all interest
accrued from the date of execution of the Note at the rate of 3.25 percent (3.25%) per annum upon the unpaid
principal balance until the principal balance is paid in full, payable in U.S. Dollars at the Lender’s address set forth
above, or at such other address as Lender may designate. The principle sum and all accrued interest will be
payable in full upon ten (10) days notice of demand from Lender.
If an event of default shall occur, neither the failure of the Lender to promptly exercise its right to declare the
outstanding principal and accrued but unpaid interest hereunder to be immediately due and payable, nor the failure
to exercise any other right or remedy the Lender may have for default, nor the acceptance by the Lender of late or
partial payments shall constitute a waiver of such rights in connections with any future default on the part of the
undersigned or any other person who may be liable hereunder.
This Note is to be construed and enforced according to the laws of the state of New York.
This Note is secured by the Maker’s accounts receivable and Maker hereby grants Lender a security interest, pari
passu with other lenders, in all such accounts receivable.
In order to perfect a security interest in the accounts receivable, the Maker, if and when requested by the Lender,
agrees to execute and return to the Lender appropriate UCC-l financing statements.
Maker waives any right of exemption and waives presentment, protest and demand, notice of protest, demand,
and/or dishonor and nonpayment of this Note.
Maker:
Fusion Telecommunications International, Inc., a Delaware corporation
By: _________________________________
Printed Name: Xxxxxx Xxxxxxxx, Xx., as President, COO and Acting CFO
Date: _______________
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