PROMISSORY NOTE
EX-10.15 4 ex1015.htm EXHIBIT 10.15 ex1015.htm
Exhibit 10.15
PROMISSORY NOTE
This agreement is made effective June 30, 2011.
| BETWEEN: | WADA DPM (the “Lender), a corporation organized and existing under the laws of the People’s Republic of China with its head office located at: |
| | ZHEJIANG WAFA ECOSYSTEM SCIENCE |
| | AND TECHNOLOGY CO., LTD |
| | No. 16 Wafa Rd, Sanjie Zone |
| | SRENGZHOU ZHEJIANG China |
| | AND: |
| | Trellis Earth Products, Inc (the “Borrower), a corporation organized and existing under the laws of the State of Oregon, United States of America, with its head office located at: |
| | Trellis Earth Products, Inc. |
| | 9125 SW Ridder Rd. Suite D |
| | Wilsonville OR 97070 |
| | TERMS |
| | $450,000 of trade credit granted Trellis Earth is hereby converted to a Promissory Note due in full as of September 30, 2012. Interest at the rate of 18% shall be paid monthly ($6,750 USD). There is no prepayment penalty. |
| LENDER | BORROWER | |||
| /s/ Yuan Zheng Sun | /s/ William Collins | |||
| Authorized Signature | Authorized Signature | |||
| | | |||
| Yuan Zheng Sun | William Collins, CEO | |||
| Print Name and Title | Print Name and Title |
