PROMISSORY NOTEAmmo, Inc. • February 14th, 2022 • Ordnance & accessories, (no vehicles/guided missiles) • Wisconsin
FOR VALUE RECEIVED, the Borrower, AMMO, INC., a Delaware corporation, and FIRELIGHT GROUP I, LLC, a Delaware limited liability company (collectively, “Borrower”), joint and several, agree and promise to pay to the order of HIAWATHA NATIONAL BANK, a national banking association (“Lender”), its endorsees, successors and assigns, the principal sum of up to Eleven Million Six Hundred Twenty-Five Thousand and 00/100 Dollars ($11,625,000.00), or so much of this amount as is disbursed at the sole discretion of Lender, together with interest on the Principal Balance (as hereinafter defined) at the rate or rates of interest hereinafter set forth payable in the following manner and on all the following terms and at the following times.
CONSTRUCTION LOAN AGREEMENTConstruction Loan Agreement • February 14th, 2022 • Ammo, Inc. • Ordnance & accessories, (no vehicles/guided missiles) • Wisconsin
THIS CONSTRUCTION LOAN AGREEMENT (“Agreement”) is made and entered into as of October 14, 2021 (the “Effective Date”) by and among AMMO, INC., a Delaware corporation (“Ammo”), FIRELIGHT GROUP I, LLC, a Delaware limited liability company (“Firelight”) (Ammo and Firelight are hereinafter referred to collectively as “Borrower”), whose address is 7681 E. Gray Road, Scottsdale, Arizona 85260, and HIAWATHA NATIONAL BANK, a national banking association (“Lender”), whose address is 777 Walton Drive, PO Box 337, Plymouth, Wisconsin 53073, its successors and assigns.
