Promissory Note, dated July 22, 2011, for the sum of $100,000, payable to Charles M. Basner
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EX-10.4 5 exh10_4.htm EXHIBIT 10.4 exh10_4.htm
Exhibit 10.4
PROMISSORY NOTE
| July 22, 2011 | $ 100,000.00 |
Whereas Charles M. Basner, (“Lender”), having an address of 10 Orchard Blossom Rd., Windham, NH 03087, has loaned $ 100,000.00 to Kenergy Scientific, Inc., formerly SpeechSwitch, Inc. (“Borrower”), a New Jersey corporation, having an address of 6 Minneakoning Rd., Flemington, NJ 08822 on this 22nd day of July, 2011, receipt of which is acknowledged;
Now, Therefore, the parties agree as follows:
Borrower shall pay Lender the full sum of $ 100,000.00, plus 7 % per annum interest on or before March 22, 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 22, 2011 | Kenergy Scientific, Inc. |
| (formerly SpeechSwitch, Inc.) | |
| ______________________ Kenneth P. Glynn, CEO |
