PROMISSORY NOTE
Exhibit 10.3
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July 12, 2011
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$ 15,000.00 |
Whereas Opal Marketing Corp. (“Lender”), having an address of 0 Xxxxxx’x Xxx, Xxxxxxxx, XX 00000, has loaned $ 15,000.00 to Kenergy Scientific, Inc. (“Borrower”), a New Jersey corporation, having an address of 0 Xxxxxxxxxxxx Xx., Xxxxxxxxxx, XX 00000 on this 12th day of July, 2011, receipt of which is acknowledged;
Now, Therefore, the parties agree as follows:
Borrower shall pay Lender the full sum of $ 15,000.00, plus 7 % per annum interest on or before March 15, 2012. In the event that Xxxxxxxx fails to make payment in full on that date, then this Note shall automatically become a default instrument and Lender may take whatever action he may elect to recover his loss, including legal action, with continuing accrual of 7 % per annum interest, and attorney’s fees.
| July 12, 2011 | Kenergy Scientific, Inc. |
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______________________
Xxxxxxx X. Xxxxx, CEO
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