Loan Agreement between Gvantsa Chumburidze and Somitos Corp.
This agreement is between Gvantsa Chumburidze (the lender) and Somitos Corp. (the borrower), a Wyoming corporation. The lender agrees to provide up to $100,000 to the borrower for business expenses and development, with the possibility of lending more at their discretion. The loan is non-interest bearing and must be repaid upon demand after three years or earlier if the company's finances allow. The agreement lasts for three years from the date of signing.
Exhibit 10.5
LOAN AGREEMENT
THE PARTIES TO THIS AGREEMENT ARE:
THE LENDER: Gvantsa Chumburidze
THE BORROWER: Somitos Corp., a company incorporated pursuant to the laws of Wyoming with an address at 34 Pekini Ave, Tbilisi, Georgia 0160.
WHEREAS: the LENDER agrees to lend funds to THE BORROWER when needed to pay corporate expenses.
THE PARTIES AGREE TO THE FOLLOWING:
1. The duration of this agreement is 3 years from the date of its execution.
2. Company will use the funds on paying business expenses and to develop its business plan.
3. The Lender will lend up to $100,000. The lender may lend an additional amount after the first $100,000 but is not required to do so.
4. The loan(s) are non-interest bearing and payable upon demand after the 3 years period or when the Company’s financial position allows for repayment.
Date: March 06, 2025
| Gvantsa Chumburidze (The Lender) | Somitos Corp. (The Borrower) |
| /s/Gvantsa Chumburidze | /s/Gvantsa Chumburidze |
| Gvantsa Chumburidze | Authorized Signatory |
