AGREEMENT between AMERICAN GROUP, INC., a Nevada corporation and COVENTRY INDUSTRIES CORP., a Florida corporationAgreement • August 9th, 1999 • American Group Inc/Fl • Florida
July 17, 1997 Louis Zanette, President 9006-1474, Quebec Inc. d/b/a Torland CP 96 Port-Cartier, Quebec G5B2G7 Canada RE: Loan of $225,000.00 to 9006-1474 Quebec Inc. d/b/a Torland (the "Corporation") Dear Mr. Zanette: Please allow this letter to serve...American Group Inc/Fl • August 9th, 1999
Please allow this letter to serve as our Company's intent to loan you and your company $225,000.00 by Promissory Note bearing interest at ten (10%) percent simple interest per annum (the "Loan"). The Loan shall be repayable by you and your company within six (6) months and shall be secured by a Chattel Mortgage/Movable Hypothec on approximately 34,000 bales of sphagnum peat moss harvested by your company in Port-Cartier. The amounts due under the Loan shall be repaid as you ship peat to us F.O.B. Boynton Beach, Florida.
DEMAND NOTE FOR VALUE RECEIVED, the borrower, 9006-1474 Quebec, Inc., who has execute this note below shall pay to Lator International, Inc. (the lender or his or her assignee) the principle amount of fifty thousand dollars ($50,000), together with...Demand Note • August 9th, 1999 • American Group Inc/Fl
FOR VALUE RECEIVED, the borrower, 9006-1474 Quebec, Inc., who has execute this note below shall pay to Lator International, Inc. (the lender or his or her assignee) the principle amount of fifty thousand dollars ($50,000), together with interest calculated at ten percent (10%), per year on the outstanding balance. The entire amount, principal and interest, shall be due and payable ON DEMAND by holder of this note. Failure to make a payment by due date shall be considered a default of the loan. Should a default exist for more than (15) days, the borrower agrees to pay the holder of this note reasonable costs of collection including attorney fees, as authorized by state law.
