Second Extension and Modification of Promissory Note between Adamas One Corp. and Lucy Z, LLC
Adamas One Corp. and Lucy Z, LLC have agreed to extend and modify the terms of a $250,000 promissory note originally dated December 22, 2021. The new agreement sets the repayment of the remaining $255,000 principal plus $16,667 interest to be due in full by September 15, 2022. The lender, Lucy Z, LLC, waives any previous defaults and default interest, but all other rights from the original note remain in effect.
Exhibit 10.10(b)
Promissory Note
Second Extension and Modification
Lucy Z, LLC- Original $250,000.00 dated December 22, 2021
FOR VALUE RECEIVED, Adamas One Corp. (“Borrower”) herein and Lucy Z, LLC (“Lender”) herein with all addresses, notifications and provisions as contained in the executed Original $250,000.00 Promissory Note dated December 22, 2021, and a first extension until June 30, 2022, hereby agrees to the extension of that instrument by the Lender. The remaining principal balance of $255,000.00, plus interest of $16,667.00 shall be due in full payable in Cash, Check or Wire transfer to Lender on or before September 15, 2022, no later than 5:00 PM PST. The Lender hereby waives any instances of default under the Original Agreement and retains all rights remedies and other options contained in the Original Promissory Note which Borrower acknowledges shall remain in full effect under this Extension and Modification. All default interest is hereby waived.
IN WITNESS WHEREOF , Borrower has duly executed this Extension and Modification under seal as of the date first above written.
| BORROWER: | ||
| Adamas One Corp. | ||
| By: | /s/ John Grdina | |
| John Grdina | ||
| Title: CEO | ||
| AGREE AND ACCEPTED TO: | ||
| /s/ Lucy Z, LLC | ||
| Lucy Z, LLC | ||
