Promissory Note between Queensridge Mining Resources, Inc. and The Stromer Family, PKS Trust dated August 14, 2012
Queensridge Mining Resources, Inc. promises to pay The Stromer Family, PKS Trust $1,985 with 5% annual interest. The full amount, including interest, is due by August 14, 2014. The agreement allows the lender to extend or modify payment terms without notice and requires the borrower to cover any collection costs if necessary. The contract is governed by Nevada law.
PROMISSORY NOTE
| $1,985 | August 14, 2012 |
FOR GOOD AND VALUABLE CONSIDERATION, the receipt and sufficiency of which is hereby acknowledged, Queensridge Mining Resources, Inc., a Nevada corporation, (“Maker”) hereby promises to pay to the order of The Stromer Family, PKS Trust (“Holder”) the sum of ONE THOUSAND NINE HUNDRED EIGHTY-FIVE DOLLARS ($1,985). This Note shall bear interest at the rate of five percent (5%) per annum. All principal and interest due hereunder shall be paid on or before August 14, 2014.
Maker hereby waives presentment, dishonor, notice of dishonor and protest. All parties hereto consent to, and Holder is expressly authorized to make, without notice, any and all renewals, extensions, modifications, or waivers of the time for or the terms of payment of any sum or sums due hereunder, or under any documents or instruments relating to or securing this Note, or of the performance of any covenants, conditions or agreements hereof or thereof or the taking or release of collateral securing this Note. Any such action by Holder shall not discharge the liability of any party to this Note.
This Note shall be governed by and construed in accordance with the laws of the State of Nevada without regard to conflict of law principles. Maker shall also pay Holder any and all costs of collection incurred in connection with this Note, including court costs and reasonable attorney’s fees.
Queensridge Mining Resources, Inc.
By: /s/ Phillip Stromer
Phillip Stromer, President and CEO
