6% Promissory Note between SecureCARE Technologies, Inc. and Payee (April 14, 2009)

Contract Categories: Business Finance › Note Agreements
Summary

SecureCARE Technologies, Inc. has issued a $25,000 promissory note to an unnamed payee, agreeing to repay the principal plus 6% annual interest in six months. The funds will be used for working capital and general corporate purposes. If payment is not made within ten days of the due date, the full amount becomes immediately due. The note can be prepaid in multiples of $1,000, and any legal costs from collection will be paid by the company. The agreement is governed by Texas law and includes a waiver of jury trial rights.

Read More Arrow
EX-4.7 3 ex4_7.htm EXHIBIT 4.7

Exhibit 4.7

THIS NOTE HAS BEEN ACQUIRED FOR INVESTMENT PURPOSES ONLY AND MAY NOT BE TRANSFERRED UNTIL (i) A REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “ACT”) SHALL HAVE BECOME EFFECTIVE WITH RESPECT THERETO OR (ii) RECEIPT BY THE COMPANY OF AN OPINION OF COUNSEL REASONABLY SATISFACTORY TO THE COMPANY TO THE EFFECT THAT REGISTRATION UNDER THE ACT IS NOT REQUIRED IN CONNECTION WITH SUCH PROPOSED TRANSFER NOR IS IN VIOLATION OF ANY APPLICABLE STATE SECURITIES LAWS. THIS LEGEND SHALL BE ENDORSED UPON ANY NOTE ISSUED IN EXCHANGE FOR THIS NOTE

6% PROMISSORY NOTE

 

 

$25,000

April 14, 2009

 

Austin, Texas

          FOR VALUE RECEIVED, SecureCARE Technologies, Inc., a Nevada corporation, whose address is 1617 W. 6th Street, Suite C, Austin, TX 78703 (herein after the “Maker” or the “Company”) promises to pay to the order of XXXXX in lawful money of the United States of America, the principal amount of Twenty Five Thousand Dollars ($25,000) together with interest at the rate of six percent (6%) per year six months from the date of this note.

          The Company shall use the proceeds of this note for working capital and general corporate purposes.

          In the event of default in any payment due under this promissory note, which remains unpaid for a period of ten days or more, the principal and accrued interest amount shall immediately become due and payable without any further demand or request.

          If any payment of principal or interest on this Note becomes due and payable on a Saturday, Sunday or public holiday under the laws of the State of Texas, the due date hereof shall be extended to the next succeeding full business day. All payments received by the holder shall be applied first to the payment of accrued interest and then to principal.

          This Note together with the interest thereon may be prepaid in whole or in part at any time, but each prepayment shall be in whole number multiples of $1,000 or such lesser amount as may then remain outstanding on this Note. All prepayments shall be applied to first to accrued interest and thereafter to principal.

          In the event that this Note shall be placed in the hands of an attorney for collection by reason of any default hereunder, the undersigned agrees to pay reasonable attorney’s fees and disbursements and other reasonable expenses incurred by the payee in connection with the collection of this Note.

          The rights, powers and remedies given to the payee under this Note shall be in addition to all rights, powers and remedies given to it by virtue of any statute or rule of law.

1

          Any forbearance, failure or delay by the payee in exercising any right, power or remedy under this Note or otherwise available to the payee shall not be deemed to be a waiver of such right, power or remedy, nor shall any single or partial exercise of any right, power or remedy preclude the further exercise thereof.

          No modification or waiver of any provision of this Note shall be effective unless it shall be in writing and signed by the payee, and any such modification or waiver shall apply only in the specific instance for which given.

          This Note and the rights and obligations of the parties hereto, shall be governed, construed and interpreted according to the laws of the State of Texas wherein it was negotiated and executed, and the undersigned consents and agrees that the State and Federal Courts which sit in the State of Texas and the County of Travis shall have exclusive jurisdiction of all controversies and disputes arising hereunder.

          The undersigned waives the right in any litigation with the payee to trial by jury.

          The term “payee” as used herein shall be deemed to include the payee and its successors, endorsees and assigns.

          The undersigned hereby jointly and severally waive presentment, demand for payment, protest, notice or protest and notice of non-payment hereof.

 

 

SecureCARE Technologies, Inc.

 

 

 

By:

/S/ Neil Burley

 

 

  

 

 

Neil Burley, CFO

2