Promissory Note Between Sybleu Inc. and Bostonia Partners, Inc. (10% Simple Interest, $20,000, Due 2022)
Sybleu Inc. has agreed to borrow $20,000 from Bostonia Partners, Inc. under this promissory note. The loan accrues simple interest at a rate of 10% per year, with both the principal and interest due in full by September 20, 2022. The borrower can repay the loan early without penalty. The agreement is governed by California law, and the lender may transfer the note to another party, with Sybleu Inc. remaining responsible for repayment under the same terms.
Exhibit 10.7
PROMISSORY NOTE (“NOTE”) - 10% SIMPLE INTEREST
| $20,000.00 | September 20, 2021 |
For VALUE RECEIVED, SYBLEU INC. (“Borrower”) promises to pay to Bostonia Partners, Inc. (“Lender”) the principal sum of Twenty Thousand Dollars ($20,000.00] with accrued simple interest at the rate of 10% percent per annum on the balance. The said principal and accrued interest shall be payable in lawful money of the United States of America on September 20, 2022. This Note may be prepaid in whole or in part at any time without premium or penalty. The Borrower hereby waives any notice of the transfer of this Note by the Lender or by any subsequent holder of this Note, agrees to remain bound by the terms of this Note subsequent to any transfer, and agrees that the terms of this Note may be fully enforced by any subsequent holder of this Note. All terms and conditions of this Note shall be interpreted under the laws of the state of California and venue shall be the state of California.
SYBLEU INC.
By: /s/ David Koos
Its: Chairman and CEO
Accepted By:
Bostonia Partners, Inc.
By:/s/ Timothy Foat
Its: President
