Promissory Note between Money To Lend of Louisiana, Inc. and Vance R. Martin, Dated July 14, 2004

Contract Categories: Business Finance Note Agreements
Summary

Money To Lend of Louisiana, Inc. agrees to repay Vance R. Martin $500,000 with 8% annual interest, payable monthly, by June 28, 2008. The company can pay off the loan early on any interest payment date, provided it gives 30 days' written notice. If the note is not presented for prepayment on the specified date, interest stops accruing after that date. This agreement outlines the repayment terms and conditions for the loan.

EX-10.4 10 dex104.htm PROMISSORY NOTE, DATED JULY 14, 2004 Promissory Note, Dated July 14, 2004

 

Exhibit 10.4

 

PROMISSORY NOTE

 

FOR VALUE RECEIVED:

 

The undersigned, Money To Lend of Louisiana, Inc., a Louisiana Corporation, promises to pay Vance R. Martin, on June 28, 2008 the sum of Five Hundred Thousand dollars ($500,000.00) together with interest at a rate of Eight Percent (8%) per annum, payable monthly by the tenth (10th) of each month.

 

The indebtedness evidenced by this note may be prepaid by the undersigned Maker in whole or in part prior to maturity on any interest paying date, together with accrued interest to the date of prepayment. The holder hereof shall be entitled to receive from the undersigned Maker thirty (30) days prior written notice of its intention to prepay this note at his last address as shown by the records of the undersigned. In the event this note is not presented for prepayment on the dte called for in the written notice by the undersigned, interest shall nevertheless cease from and after such date.

 

IN WITNESS WHEREOF, Money To Lend of Louisiana, Inc. has caused its corporate name to be hereunto subscribed by its President on the 14th day of July, 2004.

 

MONEY TO LEND OF LOUISIANA, INC.
BY:  

/s/ Vance R. Martin

Its:   President

 

SEAL