Promissory Note between Opal Marketing Corp. and Kenergy Scientific, Inc. dated July 12, 2011
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Summary
Opal Marketing Corp. has loaned $15,000 to Kenergy Scientific, Inc. under this agreement. Kenergy Scientific, Inc. must repay the full amount plus 7% annual interest by March 15, 2012. If the borrower fails to pay by the due date, the lender can take legal action to recover the debt, with interest continuing to accrue and the borrower responsible for attorney’s fees.
EX-10.3 4 exh10_3.htm EXHIBIT 10.3 exh10_3.htm
Exhibit 10.3
PROMISSORY NOTE
| July 12, 2011 | $ 15,000.00 |
Whereas Opal Marketing Corp. (“Lender”), having an address of 6 Carley’s Way, Rockaway, NJ 07866, has loaned $ 15,000.00 to Kenergy Scientific, Inc. (“Borrower”), a New Jersey corporation, having an address of 6 Minneakoning Rd., Flemington, NJ 08822 on this 12th day of July, 2011, receipt of which is acknowledged;
Now, Therefore, the parties agree as follows:
Borrower shall pay Lender the full sum of $ 15,000.00, plus 7 % per annum interest on or before March 15, 2012. In the event that Borrower fails to make payment in full on that date, then this Note shall automatically become a default instrument and Lender may take whatever action he may elect to recover his loss, including legal action, with continuing accrual of 7 % per annum interest, and attorney’s fees.
| July 12, 2011 | Kenergy Scientific, Inc. |
| ______________________ Kenneth P. Glynn, CEO |
