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"Loan Agreement" by Sherlock0101
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VINDEX NATION LOAN AGREEMENT (Promissory Note)
1. THE PARTIES. On May 7 2022, One (1) individual known as Tadakatsu Honda or xArshMK, referred to as the "Borrower".
HAS RECEIVED AND PROMISE TO PAY:
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One (1) individual known as Phillip Zachary or Sherlock0101, referred to as the "Lender", the sum of $2,100,000.00 VN Dollars, referred to as the "Borrowed Money", with interest accruing on the unpaid balance at a rate of 21 percent (%), referred to as
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the "Interest Rate", beginning on May 7 2022 under the following terms and conditions:
2. PAYMENTS. The full balance of this Note or contract, including any accrued interest and late fees, is due and payable on May 7 2022, referred to as the
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"Due Date". The Borrowed Money shall be paid at any time as long as it is before the Due Date and not in violation of any Prepayment Penalties as mentioned in Section 6.
In addition, money that is not paid on-time for any installment will be charged an
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increased Interest Rate of 42 percent (%) per month beginning the day payment was due and ending when the payment is made.
3. SECURITY. This note shall be secured under the following:
The borrower agrees to provide wtc9,
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stadium, gasstation1, sanshop1, saudkruger, and either one of the following three: collincoj, snowcones, or reccenter, referred to as the "Security", which shall transfer to the possession and ownership of the Lender IMMEDIATELY if this Note should be in
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default. The Security may not be sold or transferred without the Lender's consent during the course of this Note. If the Borrower breaches this provision, the Lender may declare all sums due under this Note immediately due and payable.
If the Borrower
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defaults under this Note the Lender shall have the right to obtain ownership and possession of the Security. The Lender shall have the sole option to accept it as full payment for the Borrowed Money without further liabilities or obligations. If the
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market value of the Security does not exceed the Borrowed Money, the Borrower shall remain liable for the balance due while while accruing interest at the rate determined by the Lender.
4. INTEREST DUE IN THE EVENT OF DEFAULT. In the event the Borrower
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fails to pay the note in full on the Due Date, the unpaid principal shall accrue interest at the rate designated by the Lender until the Borrower is no longer in default.
5. ALLOCATION OF PAYMENTS. Payments shall be first credited to any late fees due,
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then to interest due and any remainder will be credited to principal.
6. PREPAYMENT. Borrower may prepay this Note without penalty.
7. ACCELERATION. If the Borrower is in default under this Note or is in default
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under another provision of this Note, and such default is not cured within the minimum allotted time by law after written notice of such default, then Lender may, at its option, declare all outstanding sums owed on this Note to be immediately due and
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payable.
This includes rights of possession to the Security mentioned in Section 3.
8. ATTORNEY'S FEES AND COSTS. Borrower shall pay all costs incurred by Lender in collecting sums due under this Note after a default, including
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reasonable attorneys' fees. If Lender or Borrower sues t oenforce this Note or obtain a declaration of its right hereunder, the prevailing party in any such proceeding shall be entitled to recover its reasonable attorneys' fees and costs incurred in the
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proceeding (including those incurred in any bankruptcy proceeding or appeal) from the non-prevailing party.
9. WAIVER OF PRESENTMENTS. Borrower waives presentment for payment, a notice of dishonor, protest, and notice of protest.
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10. NON-WAIVER. No failure or delay by Lender in exercising Lender's rights under this Note shall be considered a waiver of such rights.
11. SEVERABILITY. In the event that any provision herein is determined to be void or unenforceable for any reason,
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such determination shall not affect the validity or enforceability of any other provision, all of which shall remain in full force and effect.
12. INTEGRATION. There are no verbal or other agreements that modify or affect the terms of this Note.
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This Note may not be modified or amended except by a written agreement signed by Borrower and Lender.
13. CONFLICTING TERMS.
The terms of this Note shall have authority and precedence over any conflicting terms in any referenced agreement or document.
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14. GUARANTORS. There shall be no person or entity, under the terms of this Note, that shall be responsible for the payment, late fees, and any accrued interest other than the Borrower.
15. EXECUTION. The Borrower executes this Note as a principal and
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The Borrower is liable under this note.
17. The Lender may determine on 7 May 2022 whether to declare all outstanding sums owed to be immediately due and payable.
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With my signature below, I affirm that I have read and understood this promissory note.
BORROWER's SIGNATURE:
Sherlock1010
DATE: April 3 2022
LENDER'S SIGNATURE:
xArshMK