[image_067.jpg] 

PROMISSORY NOTE

Drumright Regional Hospital

 

 

Note: $865,460.00 Effective Date: January 7, 2019 

 

For value received, under the Business Development Agreement [related to the
delivery of an executed Management and Administrative services Agreement for CAH
Acquisition Company 4, LLC D/B/A Drumright Regional Hospital (DRH)] that has
been duly executed between iHealthcare Management II Company and the Managing
Partner of DRH, the undersigned iHealthcare Management II Company, a Florida
Corporation (the "Borrower"), at 3901 NW 28th Street, 2nd Floor, Miami, Florida
33142, promises to pay Empower Capital Group, LLLP at the direction of Jorge A.
Perez and Ricardo J. Perez (the "Lender"), at 201 Alhambra Circle, Suite 702,
Coral Gables, FL 33134(or at such other place as the Lender may designate in
writing), the sum of Eight Hundred Sixty Five Thousand Four Hundred Sixty
Dollars $865,460.00 with interest from January 7, 2019, on the unpaid principal
at the rate of 4% per annum.

 

I. TERMS OF REPAYMENT

 

A. Payments

 

The unpaid principal and accrued interest shall be payable in annual
installments of $86,546.00 plus 4% interest on the unpaid balance beginning on
January 7, 2020, and continuing annually until January 6, 2030, (the "Due
Date"), at which time the remaining unpaid principal and interest shall be due
in full.

 

B. Application of Payments

 

All payments on this Note shall be applied first in payment of accrued interest
and any remainder in payment of principal.

 

C. Offsets:

 

Offsets: This Agreement is based on the premise that the Hospital Management and
Administrative Services Agreements will be in effect for 10 full years which
enables iHealthcare to fund the payments for the Promissory Note during this
term. Therefore, there may be a pro rata offset to the balance of the Promissory
Note if one or more of the following occur during the ten-year term:

 

a) Any early cancellation or termination of the contract that is not as a result
of  

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pg. 1  iHealthcare Promissory Note / Empower Capital Group, LLLP

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breach of contract by iHealthcare.

b)Failure to enforce the tagalong provision of the contract. 

c)A Hospital ownership action to close the hospital. 

d)Loss or suspension of Hospital License or Medicare Provider status relating to
events occurring prior to closing. 

e)In the event that the hospital closes or is placed in receivership, files for
bankruptcy, becomes insolvent or is assigned to creditors, the portion of the
Success Fee listed in the Business Development Agreement shall be adjusted
accordingly and the remaining portion of this Promissory Note shall be adjusted
to reflect the change in event and the balance due shall be reduced to reflect
that portion for the remaining term of the note. 

f)Any Offset is subject to arbitration and other remedies as specified in the
Hospital Management and Administrative Services Agreement.   

g)Liabilities incurred prior to closing.  

 

Lender Participation: Any claims sought under this provision shall be vigorously
contested with the full involvement and participation of the Lender, including
access to documents, participation in meetings and conference calls and final
settlement discussions. Lender will pay their own expenses, if any, incurred by
the Seller in this process.

 

 

II. PREPAYMENT

 

The Borrower reserves the right to prepay this Note (in whole or in part) prior
to the Due Date with no prepayment penalty. Any such prepayment shall be applied
against the installments of principal due under this note in the inverse order
of their maturity and shall be accompanied by payment of accrued interest on the
amount prepaid to the date of prepayment.

 

This Promissory Note and/or interest may further be prepaid without penalty, in
full or in part, in cash or common stock of iHealthcare, Inc. at the option of
iHealthcare.

 

 

III. COLLECTION COSTS

 

If any payment obligation under this Note is not paid when due, the Borrower
promises to pay all costs of collection, including reasonable attorney fees,
whether or not a lawsuit is commenced as part of the collection process.

 

 

 IV. DEFAULT  

 

If any of the following events of default occur, this Note and any other
obligations of the Borrower to the Lender shall become due immediately, without
demand or notice:

 

1) the failure of the Borrower to pay the principal and any accrued interest
when due;

 

2) the liquidation, dissolution, incompetency or death of the Borrower;

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3) the filing of bankruptcy proceedings involving the Borrower as a debtor;

 

4) the application for the appointment of a receiver for the Borrower;

 

5) the making of a general assignment for the benefit of the Borrower's
creditors;

 

6) the insolvency of the Borrower;

 

7) a misrepresentation by the Borrower to the Lender for the purpose of
obtaining or extending credit; or

 

8) the sale of a material portion of the business or assets of the Borrower.

 

In the event of a default, iHealthcare shall be granted 45 days to cure, as
stipulated in the Management and Administrative Services Agreement.

 

In the event of failure to cure the default after the 45-day period and remedies
specified in the Management and Administrative Services Agreement, the
management agreement shall be surrendered to the Lender as security.

 

 V. SEVERABILITY OF PROVISIONS

 

If any one or more of the provisions of this Note are determined to be
unenforceable, in whole or in part, for any reason, the remaining provisions
shall remain fully operative.

 

VI. MISCELLANEOUS

 

All payments of principal and interest on this Note shall be paid in the legal
currency of the United States.

 

This note may not be amended without the written approval of the holder.

 

VII. GOVERNING LAW AND DISPUTE RESOLTUION

 

This Note shall be governed by and interpreted in accordance with the laws of
the State of Florida. IF A DISPUTE ARISES, THE PARTIES WILL: (a) RESOLVE ALL
DISPUTES BY BINDING ARBITRATION HELD IN MIAMI-DADE COUNTY, FLORIDA BEFORE A
SINGLE ARBITRATOR FROM JUDICIAL ARBITRATION AND MEDIATION SERVICES, INC.
("JAMS"); AND (b) WAIVE ANY RIGHT TO CIVIL TRIAL BY JUDGE OR JURY.
Notwithstanding the foregoing, all claims alleging violation of restrictive
covenants, mishandling of Confidential Information, or transgression of
intellectual property rights, shall be subject to the exclusive jurisdiction, in
Miami, Florida, of either the Florida state courts or the US District Court.
Before accepting appointment, the arbitrator shall agree: (a) that the
arbitrator's award shall be made within nine (9) months of the filing of a
notice of intention (or demand) to arbitrate (but it may be extended by written
agreement of the parties); (b) to base any decision or award on governing law;
(c) to not award punitive or other damages that are  not measured by the
prevailing

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party's actual damages, except as may be required by statute; and (d) to issue
an award in writing within ten (10) days of concluding the presentation of
evidence and briefs. Judgment may be entered in any court having jurisdiction
thereof. The prevailing party shall be entitled to recover from the other party
its costs and expenses, including reasonable attorney's fees.

 

 

VIII. SIGNATURES

 

This Note shall be signed by Noel Mijares, on behalf of iHealthcare Management
II Company and Jorge A. Perez, on behalf of Empower Capital Group, LLLP.

 

 

 

[SIGNATURE PAGE FOLLOWS]

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pg. 4  iHealthcare Promissory Note / Empower Capital Group, LLLP

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IN WITNESS WHEREOF, this Agreement has been executed and delivered in the manner
prescribed by law as of the date first written above.

 

Signed this 7th Day of January 2019, at Miami, Florida.

 

 

Borrower:

iHealthcare Management Company

 

         

By:/s/Noel Mijares

Noel Mijares, CEO

 

 

Lender:

Empower Capital Group, LLLP on behalf of Jorge A. Perez and Ricardo J. Perez.

 

         

By:/s/ Jorge A. Perez

Jorge A. Perez, Managing Partner, Empower Capital Group, LLLP

 

 

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pg. 5  iHealthcare Promissory Note / Empower Capital Group, LLLP

 

[image_067.jpg]

PROMISSORY NOTE

Fairfax Community Hospital

 

 

Note: $550,215.00 Effective Date: January 7, 2019 

 

For value received, under the Business Development Agreement [related to the
delivery of an executed Management and Administrative services Agreement for CAH
Acquisition Company 12, LLC D/B/A Fairfax Community Hospital (FCH)] that has
been duly executed between iHealthcare Management II Company and the Managing
Partner of FCH, the undersigned iHealthcare Management II Company, a Florida
Corporation (the "Borrower"), at 3901 NW 28th Street, 2nd Floor, Miami, Florida
33142, promises to pay Empower Capital Group, LLLP at the direction of Jorge A.
Perez and Ricardo J. Perez (the "Lender"), at 201 Alhambra Circle, Suite 702,
Coral Gables, FL 33134(or at such other place as the Lender may designate in
writing), the sum of Five Hundred Fifty Thousand Two Hundred Fifteen Dollars
$550,215.00 with interest from January 7, 2019, on the unpaid principal at the
rate of 4% per annum.

 

I. TERMS OF REPAYMENT

 

A. Payments

 

The unpaid principal and accrued interest shall be payable in annual
installments of $55,021.50 plus 4% interest on the unpaid balance beginning on
January 7, 2020, and continuing annually until January 6, 2030, (the "Due
Date"), at which time the remaining unpaid principal and interest shall be due
in full.

 

B. Application of Payments

 

All payments on this Note shall be applied first in payment of accrued interest
and any remainder in payment of principal.

 

C. Offsets:

 

Offsets: This Agreement is based on the premise that the Hospital Management and
Administrative Services Agreements will be in effect for 10 full years which
enables iHealthcare to fund the payments for the Promissory Note during this
term. Therefore, there may be a pro rata offset to the balance of the Promissory
Note if one or more of the following occur during the ten-year term:

 

a) Any early cancellation or termination of the contract that is not as a result
of  

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pg. 1  iHealthcare Promissory Note / Empower Capital Group, LLLP

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breach of contract by iHealthcare.

b)Failure to enforce the tagalong provision of the contract. 

c)A Hospital ownership action to close the hospital. 

d)Loss or suspension of Hospital License or Medicare Provider status relating to
events occurring prior to closing. 

e)In the event that the hospital closes or is placed in receivership, files for
bankruptcy, becomes insolvent or is assigned to creditors, the portion of the
Success Fee listed in the Business Development Agreement shall be adjusted
accordingly and the remaining portion of this Promissory Note shall be adjusted
to reflect the change in event and the balance due shall be reduced to reflect
that portion for the remaining term of the note. 

f)Any Offset is subject to arbitration and other remedies as specified in the
Hospital Management and Administrative Services Agreement.   

g)Liabilities incurred prior to closing.  

 

Lender Participation: Any claims sought under this provision shall be vigorously
contested with the full involvement and participation of the Lender, including
access to documents, participation in meetings and conference calls and final
settlement discussions. Lender will pay their own expenses, if any, incurred by
the Seller in this process.

 

 

II. PREPAYMENT

 

The Borrower reserves the right to prepay this Note (in whole or in part) prior
to the Due Date with no prepayment penalty. Any such prepayment shall be applied
against the installments of principal due under this note in the inverse order
of their maturity and shall be accompanied by payment of accrued interest on the
amount prepaid to the date of prepayment.

 

This Promissory Note and/or interest may further be prepaid without penalty, in
full or in part, in cash or common stock of iHealthcare, Inc. at the option of
iHealthcare.

 

 

III. COLLECTION COSTS

 

If any payment obligation under this Note is not paid when due, the Borrower
promises to pay all costs of collection, including reasonable attorney fees,
whether or not a lawsuit is commenced as part of the collection process.

 

 

 IV. DEFAULT  

 

If any of the following events of default occur, this Note and any other
obligations of the Borrower to the Lender shall become due immediately, without
demand or notice:

 

1) the failure of the Borrower to pay the principal and any accrued interest
when due;

 

2) the liquidation, dissolution, incompetency or death of the Borrower;

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3) the filing of bankruptcy proceedings involving the Borrower as a debtor;

 

4) the application for the appointment of a receiver for the Borrower;

 

5) the making of a general assignment for the benefit of the Borrower's
creditors;

 

6) the insolvency of the Borrower;

 

7) a misrepresentation by the Borrower to the Lender for the purpose of
obtaining or extending credit; or

 

8) the sale of a material portion of the business or assets of the Borrower.

 

In the event of a default, iHealthcare shall be granted 45 days to cure, as
stipulated in the Management and Administrative Services Agreement.

 

In the event of failure to cure the default after the 45-day period and remedies
specified in the Management and Administrative Services Agreement, the
management agreement shall be surrendered to the Lender as security.

 

 V. SEVERABILITY OF PROVISIONS

 

If any one or more of the provisions of this Note are determined to be
unenforceable, in whole or in part, for any reason, the remaining provisions
shall remain fully operative.

 

VI. MISCELLANEOUS

 

All payments of principal and interest on this Note shall be paid in the legal
currency of the United States.

 

This note may not be amended without the written approval of the holder.

 

VII. GOVERNING LAW AND DISPUTE RESOLTUION

 

This Note shall be governed by and interpreted in accordance with the laws of
the State of Florida. IF A DISPUTE ARISES, THE PARTIES WILL: (a) RESOLVE ALL
DISPUTES BY BINDING ARBITRATION HELD IN MIAMI-DADE COUNTY, FLORIDA BEFORE A
SINGLE ARBITRATOR FROM JUDICIAL ARBITRATION AND MEDIATION SERVICES, INC.
("JAMS"); AND (b) WAIVE ANY RIGHT TO CIVIL TRIAL BY JUDGE OR JURY.
Notwithstanding the foregoing, all claims alleging violation of restrictive
covenants, mishandling of Confidential Information, or transgression of
intellectual property rights, shall be subject to the exclusive jurisdiction, in
Miami, Florida, of either the Florida state courts or the US District Court.
Before accepting appointment, the arbitrator shall agree: (a) that the
arbitrator's award shall be made within nine (9) months of the filing of a
notice of intention (or demand) to arbitrate (but it may be extended by written
agreement of the parties); (b) to base any decision or award on governing law;
(c) to not award punitive or other damages that are  not measured by the
prevailing

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party's actual damages, except as may be required by statute; and (d) to issue
an award in writing within ten (10) days of concluding the presentation of
evidence and briefs. Judgment may be entered in any court having jurisdiction
thereof. The prevailing party shall be entitled to recover from the other party
its costs and expenses, including reasonable attorney's fees.

 

 

VIII. SIGNATURES

 

This Note shall be signed by Noel Mijares, on behalf of iHealthcare Management
II Company and Jorge A. Perez, on behalf of Empower Capital Group, LLLP.

 

 

 

[SIGNATURE PAGE FOLLOWS]

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pg. 4  iHealthcare Promissory Note / Empower Capital Group, LLLP

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IN WITNESS WHEREOF, this Agreement has been executed and delivered in the manner
prescribed by law as of the date first written above.

 

Signed this 7th day of January 2019, at Miami, Florida.

 

 

Borrower:

iHealthcare Management Company

 

         

By:/s/Noel Mijares

Noel Mijares, CEO

 

 

Lender:

Empower Capital Group, LLLP on behalf of Jorge A. Perez and Ricardo J. Perez.

 

         

By:/s/ Jorge A. Perez

Jorge A. Perez, Managing Partner, Empower Capital Group, LLLP

 

 

 

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pg. 5  iHealthcare Promissory Note / Empower Capital Group, LLLP

 

[image_067.jpg]

PROMISSORY NOTE

Haskell County Community Hospital

 

 

Note: $643,172.00 Effective Date: January 7, 2019 

 

For value received, under the Business Development Agreement [related to the
delivery of an executed Management and Administrative services Agreement for CAH
Acquisition Company 16, LLC D/B/A Haskell County Community Hospital (HCCH)] that
has been duly executed between iHealthcare Management II Company and the
Managing Partner of HCCH, the undersigned iHealthcare Management II Company, a
Florida Corporation (the "Borrower"), at 3901 NW 28th Street, 2nd Floor, Miami,
Florida 33142, promises to pay Empower Capital Group, LLLP at the direction of
Jorge A. Perez and Ricardo J. Perez (the "Lender"), at 201 Alhambra Circle,
Suite 702, Coral Gables, FL 33134(or at such other place as the Lender may
designate in writing), the sum of Six Hundred Forty Three Thousand One Hundred
Seventy Two Dollars $643,172.00 with interest from January 7, 2019, on the
unpaid principal at the rate of 4% per annum.

 

I. TERMS OF REPAYMENT

 

A. Payments

 

The unpaid principal and accrued interest shall be payable in annual
installments of $64,317.20 plus 4% interest on the unpaid balance beginning on
January 7, 2020, and continuing annually until January 6, 2030, (the "Due
Date"), at which time the remaining unpaid principal and interest shall be due
in full.

 

B. Application of Payments

 

All payments on this Note shall be applied first in payment of accrued interest
and any remainder in payment of principal.

 

C. Offsets:

 

Offsets: This Agreement is based on the premise that the Hospital Management and
Administrative Services Agreements will be in effect for 10 full years which
enables iHealthcare to fund the payments for the Promissory Note during this
term. Therefore, there may be a pro rata offset to the balance of the Promissory
Note if one or more of the following occur during the ten-year term:

 

a) Any early cancellation or termination of the contract that is not as a result
of  

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pg. 1  iHealthcare Promissory Note / Empower Capital Group, LLLP

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breach of contract by iHealthcare.

b)Failure to enforce the tagalong provision of the contract. 

c)A Hospital ownership action to close the hospital. 

d)Loss or suspension of Hospital License or Medicare Provider status relating to
events occurring prior to closing. 

e)In the event that the hospital closes or is placed in receivership, files for
bankruptcy, becomes insolvent or is assigned to creditors, the portion of the
Success Fee listed in the Business Development Agreement shall be adjusted
accordingly and the remaining portion of this Promissory Note shall be adjusted
to reflect the change in event and the balance due shall be reduced to reflect
that portion for the remaining term of the note. 

f)Any Offset is subject to arbitration and other remedies as specified in the
Hospital Management and Administrative Services Agreement.   

g)Liabilities incurred prior to closing.  

 

Lender Participation: Any claims sought under this provision shall be vigorously
contested with the full involvement and participation of the Lender, including
access to documents, participation in meetings and conference calls and final
settlement discussions. Lender will pay their own expenses, if any, incurred by
the Seller in this process.

 

 

II. PREPAYMENT

 

The Borrower reserves the right to prepay this Note (in whole or in part) prior
to the Due Date with no prepayment penalty. Any such prepayment shall be applied
against the installments of principal due under this note in the inverse order
of their maturity and shall be accompanied by payment of accrued interest on the
amount prepaid to the date of prepayment.

 

This Promissory Note and/or interest may further be prepaid without penalty, in
full or in part, in cash or common stock of iHealthcare, Inc. at the option of
iHealthcare.

 

 

III. COLLECTION COSTS

 

If any payment obligation under this Note is not paid when due, the Borrower
promises to pay all costs of collection, including reasonable attorney fees,
whether or not a lawsuit is commenced as part of the collection process.

 

 

 IV. DEFAULT  

 

If any of the following events of default occur, this Note and any other
obligations of the Borrower to the Lender shall become due immediately, without
demand or notice:

 

1) the failure of the Borrower to pay the principal and any accrued interest
when due;

 

2) the liquidation, dissolution, incompetency or death of the Borrower;

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pg. 2  iHealthcare Promissory Note / Empower Capital Group, LLLP

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3) the filing of bankruptcy proceedings involving the Borrower as a debtor;

 

4) the application for the appointment of a receiver for the Borrower;

 

5) the making of a general assignment for the benefit of the Borrower's
creditors;

 

6) the insolvency of the Borrower;

 

7) a misrepresentation by the Borrower to the Lender for the purpose of
obtaining or extending credit; or

 

8) the sale of a material portion of the business or assets of the Borrower.

 

In the event of a default, iHealthcare shall be granted 45 days to cure, as
stipulated in the Management and Administrative Services Agreement.

 

In the event of failure to cure the default after the 45-day period and remedies
specified in the Management and Administrative Services Agreement, the
management agreement shall be surrendered to the Lender as security.

 

 V. SEVERABILITY OF PROVISIONS

 

If any one or more of the provisions of this Note are determined to be
unenforceable, in whole or in part, for any reason, the remaining provisions
shall remain fully operative.

 

VI. MISCELLANEOUS

 

All payments of principal and interest on this Note shall be paid in the legal
currency of the United States.

 

This note may not be amended without the written approval of the holder.

 

VII. GOVERNING LAW AND DISPUTE RESOLTUION

 

This Note shall be governed by and interpreted in accordance with the laws of
the State of Florida. IF A DISPUTE ARISES, THE PARTIES WILL: (a) RESOLVE ALL
DISPUTES BY BINDING ARBITRATION HELD IN MIAMI-DADE COUNTY, FLORIDA BEFORE A
SINGLE ARBITRATOR FROM JUDICIAL ARBITRATION AND MEDIATION SERVICES, INC.
("JAMS"); AND (b) WAIVE ANY RIGHT TO CIVIL TRIAL BY JUDGE OR JURY.
Notwithstanding the foregoing, all claims alleging violation of restrictive
covenants, mishandling of Confidential Information, or transgression of
intellectual property rights, shall be subject to the exclusive jurisdiction, in
Miami, Florida, of either the Florida state courts or the US District Court.
Before accepting appointment, the arbitrator shall agree: (a) that the
arbitrator's award shall be made within nine (9) months of the filing of a
notice of intention (or demand) to arbitrate (but it may be extended by written
agreement of the parties); (b) to base any decision or award on governing law;
(c) to not award punitive or other damages that are  not measured by the
prevailing

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party's actual damages, except as may be required by statute; and (d) to issue
an award in writing within ten (10) days of concluding the presentation of
evidence and briefs. Judgment may be entered in any court having jurisdiction
thereof. The prevailing party shall be entitled to recover from the other party
its costs and expenses, including reasonable attorney's fees.

 

 

VIII. SIGNATURES

 

This Note shall be signed by Noel Mijares, on behalf of iHealthcare Management
II Company and Jorge A. Perez, on behalf of Empower Capital Group, LLLP.

 

 

 

[SIGNATURE PAGE FOLLOWS]

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pg. 4  iHealthcare Promissory Note / Empower Capital Group, LLLP

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IN WITNESS WHEREOF, this Agreement has been executed and delivered in the manner
prescribed by law as of the date first written above.

 

Signed this 7th day of January 2019 at Miami, Florida.

 

 

Borrower:

iHealthcare Management Company

 

         

By:/s/Noel Mijares

Noel Mijares, CEO

 

 

Lender:

Empower Capital Group, LLLP on behalf of Jorge A. Perez and Ricardo J. Perez.

 

         

By:/s/ Jorge A. Perez

Jorge A. Perez, Managing Partner, Empower Capital Group, LLLP

 

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pg. 5  iHealthcare Promissory Note / Empower Capital Group, LLLP

 

[image_067.jpg]

PROMISSORY NOTE

Hillsboro Community Hospital

 

 

Note: $900,600.00 Effective Date: January 7, 2019 

 

For value received, under the Business Development Agreement [related to the
delivery of an executed Management and Administrative services Agreement for CAH
Acquisition Company 5, LLC D/B/A Hillsboro Community Hospital (HCH)] that has
been duly executed between iHealthcare Management II Company and the Managing
Partner of HCH, the undersigned iHealthcare Management II Company, a Florida
Corporation (the "Borrower"), at 3901 NW 28th Street, 2nd Floor, Miami, Florida
33142, promises to pay Empower Capital Group, LLLP at the direction of Jorge A.
Perez and Ricardo J. Perez (the "Lender"), at 201 Alhambra Circle, Suite 702,
Coral Gables, FL 33134(or at such other place as the Lender may designate in
writing), the sum of Nine Hundred Thousand Six Hundred Dollars $900,600.00 with
interest from January 7, 2019, on the unpaid principal at the rate of 4% per
annum.

 

I. TERMS OF REPAYMENT

 

A. Payments

 

The unpaid principal and accrued interest shall be payable in annual
installments of $90,060.00 plus 4% interest on the unpaid balance beginning on
January 7, 2020, and continuing annually until January 6, 2030, (the "Due
Date"), at which time the remaining unpaid principal and interest shall be due
in full.

 

B. Application of Payments

 

All payments on this Note shall be applied first in payment of accrued interest
and any remainder in payment of principal.

 

C. Offsets:

 

Offsets: This Agreement is based on the premise that the Hospital Management and
Administrative Services Agreements will be in effect for 10 full years which
enables iHealthcare to fund the payments for the Promissory Note during this
term. Therefore, there may be a pro rata offset to the balance of the Promissory
Note if one or more of the following occur during the ten-year term:

 

a) Any early cancellation or termination of the contract that is not as a result
of breach of contract by iHealthcare. 

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pg. 1  iHealthcare Promissory Note / Empower Capital Group, LLLP

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b)Failure to enforce the tagalong provision of the contract. 

c)A Hospital ownership action to close the hospital. 

d)Loss or suspension of Hospital License or Medicare Provider status relating to
events occurring prior to closing. 

e)In the event that the hospital closes or is placed in receivership, files for
bankruptcy, becomes insolvent or is assigned to creditors, the portion of the
Success Fee listed in the Business Development Agreement shall be adjusted
accordingly and the remaining portion of this Promissory Note shall be adjusted
to reflect the change in event and the balance due shall be reduced to reflect
that portion for the remaining term of the note. 

f)Any Offset is subject to arbitration and other remedies as specified in the
Hospital Management and Administrative Services Agreement.   

g)Liabilities incurred prior to closing.  

 

Lender Participation: Any claims sought under this provision shall be vigorously
contested with the full involvement and participation of the Lender, including
access to documents, participation in meetings and conference calls and final
settlement discussions. Lender will pay their own expenses, if any, incurred by
the Seller in this process.

 

 

II. PREPAYMENT

 

The Borrower reserves the right to prepay this Note (in whole or in part) prior
to the Due Date with no prepayment penalty. Any such prepayment shall be applied
against the installments of principal due under this note in the inverse order
of their maturity and shall be accompanied by payment of accrued interest on the
amount prepaid to the date of prepayment.

 

This Promissory Note and/or interest may further be prepaid without penalty, in
full or in part, in cash or common stock of iHealthcare, Inc. at the option of
iHealthcare.

 

 

III. COLLECTION COSTS

 

If any payment obligation under this Note is not paid when due, the Borrower
promises to pay all costs of collection, including reasonable attorney fees,
whether or not a lawsuit is commenced as part of the collection process.

 

 

 IV. DEFAULT  

 

If any of the following events of default occur, this Note and any other
obligations of the Borrower to the Lender shall become due immediately, without
demand or notice:

 

1) the failure of the Borrower to pay the principal and any accrued interest
when due;

 

2) the liquidation, dissolution, incompetency or death of the Borrower;

 

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pg. 2  iHealthcare Promissory Note / Empower Capital Group, LLLP

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3) the filing of bankruptcy proceedings involving the Borrower as a debtor;

 

4) the application for the appointment of a receiver for the Borrower;

 

5) the making of a general assignment for the benefit of the Borrower's
creditors;

 

6) the insolvency of the Borrower;

 

7) a misrepresentation by the Borrower to the Lender for the purpose of
obtaining or extending credit; or

 

8) the sale of a material portion of the business or assets of the Borrower.

 

In the event of a default, iHealthcare shall be granted 45 days to cure, as
stipulated in the Management and Administrative Services Agreement.

 

In the event of failure to cure the default after the 45-day period and remedies
specified in the Management and Administrative Services Agreement, the
management agreement shall be surrendered to the Lender as security.

 

 V. SEVERABILITY OF PROVISIONS

 

If any one or more of the provisions of this Note are determined to be
unenforceable, in whole or in part, for any reason, the remaining provisions
shall remain fully operative.

 

VI. MISCELLANEOUS

 

All payments of principal and interest on this Note shall be paid in the legal
currency of the United States.

 

This note may not be amended without the written approval of the holder.

 

VII. GOVERNING LAW AND DISPUTE RESOLTUION

 

This Note shall be governed by and interpreted in accordance with the laws of
the State of Florida. IF A DISPUTE ARISES, THE PARTIES WILL: (a) RESOLVE ALL
DISPUTES BY BINDING ARBITRATION HELD IN MIAMI-DADE COUNTY, FLORIDA BEFORE A
SINGLE ARBITRATOR FROM JUDICIAL ARBITRATION AND MEDIATION SERVICES, INC.
("JAMS"); AND (b) WAIVE ANY RIGHT TO CIVIL TRIAL BY JUDGE OR JURY.
Notwithstanding the foregoing, all claims alleging violation of restrictive
covenants, mishandling of Confidential Information, or transgression of
intellectual property rights, shall be subject to the exclusive jurisdiction, in
Miami, Florida, of either the Florida state courts or the US District Court.
Before accepting appointment, the arbitrator shall agree: (a) that the
arbitrator's award shall be made within nine (9) months of the filing of a
notice of intention (or demand) to arbitrate (but it may be extended by written
agreement of the parties); (b) to base any decision or award on governing law;
(c) to not award punitive or other damages that are  not measured by the
prevailing party's actual damages, except as may be required by statute; and (d)
to issue an award in writing

--------------------------------------------------------------------------------

pg. 3  iHealthcare Promissory Note / Empower Capital Group, LLLP

--------------------------------------------------------------------------------

within ten (10) days of concluding the presentation of evidence and briefs.
Judgment may be entered in any court having jurisdiction thereof. The prevailing
party shall be entitled to recover from the other party its costs and expenses,
including reasonable attorney's fees.

 

 

VIII. SIGNATURES

 

This Note shall be signed by Noel Mijares, on behalf of iHealthcare Management
II Company and Jorge A. Perez, on behalf of Empower Capital Group, LLLP.

 

 

 

[SIGNATURE PAGE FOLLOWS]

--------------------------------------------------------------------------------

pg. 4  iHealthcare Promissory Note / Empower Capital Group, LLLP

--------------------------------------------------------------------------------

IN WITNESS WHEREOF, this Agreement has been executed and delivered in the manner
prescribed by law as of the date first written above.

 

Signed this 7th day of January 2019 at Miami, Florida.

 

 

Borrower:

iHealthcare Management Company

 

         

By:/s/Noel Mijares

Noel Mijares, CEO

 

 

Lender:

Empower Capital Group, LLLP on behalf of Jorge A. Perez and Ricardo J. Perez.

 

         

By:/s/ Jorge A. Perez

Jorge A. Perez, Managing Partner, Empower Capital Group, LLLP

 

--------------------------------------------------------------------------------

pg. 5  iHealthcare Promissory Note / Empower Capital Group, LLLP

 

[image_067.jpg]

PROMISSORY NOTE

Horton Community Hospital

 

 

Note: $741,898.00 Effective Date: January 7, 2019 

 

For value received, under the Business Development Agreement [related to the
delivery of an executed Management and Administrative services Agreement for CAH
Acquisition Company 3, LLC D/B/A Horton Community Hospital (HCH)] that has been
duly executed between iHealthcare Management II Company and the Managing Partner
of HCH, the undersigned iHealthcare Management II Company, a Florida Corporation
(the "Borrower"), at 3901 NW 28th Street, 2nd Floor, Miami, Florida 33142,
promises to pay Empower Capital Group, LLLP at the direction of Jorge A. Perez
and Ricardo J. Perez (the "Lender"), at 201 Alhambra Circle, Suite 702, Coral
Gables, FL 33134(or at such other place as the Lender may designate in writing),
the sum of Seven Hundred Forty One Thousand Eight Hundred Ninety Eight Dollars
$741,898.00 with interest from January 7, 2019 on the unpaid principal at the
rate of 4% per annum.

 

I. TERMS OF REPAYMENT

 

A. Payments

 

The unpaid principal and accrued interest shall be payable in annual
installments of $74,189.80 plus 4% interest on the unpaid balance beginning on
January 7, 2020, and continuing annually until January 6, 2030, (the "Due
Date"), at which time the remaining unpaid principal and interest shall be due
in full.

 

B. Application of Payments

 

All payments on this Note shall be applied first in payment of accrued interest
and any remainder in payment of principal.

 

C. Offsets:

 

Offsets: This Agreement is based on the premise that the Hospital Management and
Administrative Services Agreements will be in effect for 10 full years which
enables iHealthcare to fund the payments for the Promissory Note during this
term. Therefore, there may be a pro rata offset to the balance of the Promissory
Note if one or more of the following occur during the ten-year term:

 

a) Any early cancellation or termination of the contract that is not as a result
of  

--------------------------------------------------------------------------------

pg. 1  iHealthcare Promissory Note / Empower Capital Group, LLLP

--------------------------------------------------------------------------------

breach of contract by iHealthcare.

b)Failure to enforce the tagalong provision of the contract. 

c)A Hospital ownership action to close the hospital. 

d)Loss or suspension of Hospital License or Medicare Provider status relating to
events occurring prior to closing. 

e)In the event that the hospital closes or is placed in receivership, files for
bankruptcy, becomes insolvent or is assigned to creditors, the portion of the
Success Fee listed in the Business Development Agreement shall be adjusted
accordingly and the remaining portion of this Promissory Note shall be adjusted
to reflect the change in event and the balance due shall be reduced to reflect
that portion for the remaining term of the note. 

f)Any Offset is subject to arbitration and other remedies as specified in the
Hospital Management and Administrative Services Agreement.   

g)Liabilities incurred prior to closing.  

 

Lender Participation: Any claims sought under this provision shall be vigorously
contested with the full involvement and participation of the Lender, including
access to documents, participation in meetings and conference calls and final
settlement discussions. Lender will pay their own expenses, if any, incurred by
the Seller in this process.

 

 

II. PREPAYMENT

 

The Borrower reserves the right to prepay this Note (in whole or in part) prior
to the Due Date with no prepayment penalty. Any such prepayment shall be applied
against the installments of principal due under this note in the inverse order
of their maturity and shall be accompanied by payment of accrued interest on the
amount prepaid to the date of prepayment.

 

This Promissory Note and/or interest may further be prepaid without penalty, in
full or in part, in cash or common stock of iHealthcare, Inc. at the option of
iHealthcare.

 

 

III. COLLECTION COSTS

 

If any payment obligation under this Note is not paid when due, the Borrower
promises to pay all costs of collection, including reasonable attorney fees,
whether or not a lawsuit is commenced as part of the collection process.

 

 

 IV. DEFAULT  

 

If any of the following events of default occur, this Note and any other
obligations of the Borrower to the Lender shall become due immediately, without
demand or notice:

 

1) the failure of the Borrower to pay the principal and any accrued interest
when due;

 

2) the liquidation, dissolution, incompetency or death of the Borrower;

--------------------------------------------------------------------------------

pg. 2  iHealthcare Promissory Note / Empower Capital Group, LLLP

--------------------------------------------------------------------------------

 

3) the filing of bankruptcy proceedings involving the Borrower as a debtor;

 

4) the application for the appointment of a receiver for the Borrower;

 

5) the making of a general assignment for the benefit of the Borrower's
creditors;

 

6) the insolvency of the Borrower;

 

7) a misrepresentation by the Borrower to the Lender for the purpose of
obtaining or extending credit; or

 

8) the sale of a material portion of the business or assets of the Borrower.

 

In the event of a default, iHealthcare shall be granted 45 days to cure, as
stipulated in the Management and Administrative Services Agreement.

 

In the event of failure to cure the default after the 45-day period and remedies
specified in the Management and Administrative Services Agreement, the
management agreement shall be surrendered to the Lender as security.

 

 V. SEVERABILITY OF PROVISIONS

 

If any one or more of the provisions of this Note are determined to be
unenforceable, in whole or in part, for any reason, the remaining provisions
shall remain fully operative.

 

VI. MISCELLANEOUS

 

All payments of principal and interest on this Note shall be paid in the legal
currency of the United States.

 

This note may not be amended without the written approval of the holder.

 

VII. GOVERNING LAW AND DISPUTE RESOLTUION

 

This Note shall be governed by and interpreted in accordance with the laws of
the State of Florida. IF A DISPUTE ARISES, THE PARTIES WILL: (a) RESOLVE ALL
DISPUTES BY BINDING ARBITRATION HELD IN MIAMI-DADE COUNTY, FLORIDA BEFORE A
SINGLE ARBITRATOR FROM JUDICIAL ARBITRATION AND MEDIATION SERVICES, INC.
("JAMS"); AND (b) WAIVE ANY RIGHT TO CIVIL TRIAL BY JUDGE OR JURY.
Notwithstanding the foregoing, all claims alleging violation of restrictive
covenants, mishandling of Confidential Information, or transgression of
intellectual property rights, shall be subject to the exclusive jurisdiction, in
Miami, Florida, of either the Florida state courts or the US District Court.
Before accepting appointment, the arbitrator shall agree: (a) that the
arbitrator's award shall be made within nine (9) months of the filing of a
notice of intention (or demand) to arbitrate (but it may be extended by written
agreement of the parties); (b) to base any decision or award on governing law;
(c) to not award punitive or other damages that are  not measured by the
prevailing

--------------------------------------------------------------------------------

pg. 3  iHealthcare Promissory Note / Empower Capital Group, LLLP

--------------------------------------------------------------------------------

party's actual damages, except as may be required by statute; and (d) to issue
an award in writing within ten (10) days of concluding the presentation of
evidence and briefs. Judgment may be entered in any court having jurisdiction
thereof. The prevailing party shall be entitled to recover from the other party
its costs and expenses, including reasonable attorney's fees.

 

 

VIII. SIGNATURES

 

This Note shall be signed by Noel Mijares, on behalf of iHealthcare Management
II Company and Jorge A. Perez, on behalf of Empower Capital Group, LLLP.

 

 

 

[SIGNATURE PAGE FOLLOWS]

--------------------------------------------------------------------------------

pg. 4  iHealthcare Promissory Note / Empower Capital Group, LLLP

--------------------------------------------------------------------------------

IN WITNESS WHEREOF, this Agreement has been executed and delivered in the manner
prescribed by law as of the date first written above.

 

Signed this 7th of January 2019, at Miami, Florida.

 

 

Borrower:

iHealthcare Management II Company

 

         //Noel Mijares//

By:____________________________________________________

Noel Mijares, CEO

 

 

Lender:

Empower Capital Group, LLLP on behalf of Jorge A. Perez and Ricardo J. Perez.

 

         //Jorge A. Perez//

By:____________________________________________________

Jorge A. Perez, Managing Partner, Empower Capital Group, LLLP

 

 

 

--------------------------------------------------------------------------------

pg. 5  iHealthcare Promissory Note / Empower Capital Group, LLLP

 

[image_067.jpg]

PROMISSORY NOTE

I-70 Community Hospital

 

 

Note: $911,622.00 Effective Date: January 7, 2019 

 

For value received, under the Business Development Agreement [related to the
delivery of an executed Management and Administrative services Agreement for CAH
Acquisition Company 6, LLC D/B/A I-70 Community Hospital (I-70CH)] that has been
duly executed between iHealthcare Management II Company and the Managing Partner
of I-70CH, the undersigned iHealthcare Management II Company, a Florida
Corporation (the "Borrower"), at 3901 NW 28th Street, 2nd Floor, Miami, Florida
33142, promises to pay Empower Capital Group, LLLP at the direction of Empower
Holdings Group, LLC (the "Lender"), at 201 Alhambra Circle, Suite 702, Coral
Gables, FL 33134(or at such other place as the Lender may designate in writing),
the sum of Nine Hundred Eleven Thousand Six Hundred Twenty Two Dollars
$911,622.00 with interest from January 7, 2019, on the unpaid principal at the
rate of 4% per annum.

 

I. TERMS OF REPAYMENT

 

A. Payments

 

The unpaid principal and accrued interest shall be payable in annual
installments of $91,162.20 plus 4% interest on the unpaid balance beginning on
January 7, 2020, and continuing annually until January 6, 2030, (the "Due
Date"), at which time the remaining unpaid principal and interest shall be due
in full.

 

B. Application of Payments

 

All payments on this Note shall be applied first in payment of accrued interest
and any remainder in payment of principal.

 

C. Offsets:

 

Offsets: This Agreement is based on the premise that the Hospital Management and
Administrative Services Agreements will be in effect for 10 full years which
enables iHealthcare to fund the payments for the Promissory Note during this
term. Therefore, there may be a pro rata offset to the balance of the Promissory
Note if one or more of the following occur during the ten-year term:

 

a) Any early cancellation or termination of the contract that is not as a result
of breach of contract by iHealthcare. 

--------------------------------------------------------------------------------

pg. 1  iHealthcare Promissory Note / Empower Capital Group, LLLP

--------------------------------------------------------------------------------

b)Failure to enforce the tagalong provision of the contract. 

c)A Hospital ownership action to close the hospital. 

d)Loss or suspension of Hospital License or Medicare Provider status relating to
events occurring prior to closing. 

e)In the event that the hospital closes or is placed in receivership, files for
bankruptcy, becomes insolvent or is assigned to creditors, the portion of the
Success Fee listed in the Business Development Agreement shall be adjusted
accordingly and the remaining portion of this Promissory Note shall be adjusted
to reflect the change in event and the balance due shall be reduced to reflect
that portion for the remaining term of the note. 

f)Any Offset is subject to arbitration and other remedies as specified in the
Hospital Management and Administrative Services Agreement.   

g)Liabilities incurred prior to closing.  

 

Lender Participation: Any claims sought under this provision shall be vigorously
contested with the full involvement and participation of the Lender, including
access to documents, participation in meetings and conference calls and final
settlement discussions. Lender will pay their own expenses, if any, incurred by
the Seller in this process.

 

 

II. PREPAYMENT

 

The Borrower reserves the right to prepay this Note (in whole or in part) prior
to the Due Date with no prepayment penalty. Any such prepayment shall be applied
against the installments of principal due under this note in the inverse order
of their maturity and shall be accompanied by payment of accrued interest on the
amount prepaid to the date of prepayment.

 

This Promissory Note and/or interest may further be prepaid without penalty, in
full or in part, in cash or common stock of iHealthcare, Inc. at the option of
iHealthcare.

 

 

III. COLLECTION COSTS

 

If any payment obligation under this Note is not paid when due, the Borrower
promises to pay all costs of collection, including reasonable attorney fees,
whether or not a lawsuit is commenced as part of the collection process.

 

 

 IV. DEFAULT  

 

If any of the following events of default occur, this Note and any other
obligations of the Borrower to the Lender shall become due immediately, without
demand or notice:

 

1) the failure of the Borrower to pay the principal and any accrued interest
when due;

 

2) the liquidation, dissolution, incompetency or death of the Borrower;

 

--------------------------------------------------------------------------------

pg. 2  iHealthcare Promissory Note / Empower Capital Group, LLLP

--------------------------------------------------------------------------------

3) the filing of bankruptcy proceedings involving the Borrower as a debtor;

 

4) the application for the appointment of a receiver for the Borrower;

 

5) the making of a general assignment for the benefit of the Borrower's
creditors;

 

6) the insolvency of the Borrower;

 

7) a misrepresentation by the Borrower to the Lender for the purpose of
obtaining or extending credit; or

 

8) the sale of a material portion of the business or assets of the Borrower.

 

In the event of a default, iHealthcare shall be granted 45 days to cure, as
stipulated in the Management and Administrative Services Agreement.

 

In the event of failure to cure the default after the 45-day period and remedies
specified in the Management and Administrative Services Agreement, the
management agreement shall be surrendered to the Lender as security.

 

 V. SEVERABILITY OF PROVISIONS

 

If any one or more of the provisions of this Note are determined to be
unenforceable, in whole or in part, for any reason, the remaining provisions
shall remain fully operative.

 

VI. MISCELLANEOUS

 

All payments of principal and interest on this Note shall be paid in the legal
currency of the United States.

 

This note may not be amended without the written approval of the holder.

 

VII. GOVERNING LAW AND DISPUTE RESOLTUION

 

This Note shall be governed by and interpreted in accordance with the laws of
the State of Florida. IF A DISPUTE ARISES, THE PARTIES WILL: (a) RESOLVE ALL
DISPUTES BY BINDING ARBITRATION HELD IN MIAMI-DADE COUNTY, FLORIDA BEFORE A
SINGLE ARBITRATOR FROM JUDICIAL ARBITRATION AND MEDIATION SERVICES, INC.
("JAMS"); AND (b) WAIVE ANY RIGHT TO CIVIL TRIAL BY JUDGE OR JURY.
Notwithstanding the foregoing, all claims alleging violation of restrictive
covenants, mishandling of Confidential Information, or transgression of
intellectual property rights, shall be subject to the exclusive jurisdiction, in
Miami, Florida, of either the Florida state courts or the US District Court.
Before accepting appointment, the arbitrator shall agree: (a) that the
arbitrator's award shall be made within nine (9) months of the filing of a
notice of intention (or demand) to arbitrate (but it may be extended by written
agreement of the parties); (b) to base any decision or award on governing law;
(c) to not award punitive or other damages that are  not measured by the
prevailing party's actual damages, except as may be required by statute; and (d)
to issue an award in writing

--------------------------------------------------------------------------------

pg. 3  iHealthcare Promissory Note / Empower Capital Group, LLLP

--------------------------------------------------------------------------------

within ten (10) days of concluding the presentation of evidence and briefs.
Judgment may be entered in any court having jurisdiction thereof. The prevailing
party shall be entitled to recover from the other party its costs and expenses,
including reasonable attorney's fees.

 

 

VIII. SIGNATURES

 

This Note shall be signed by Noel Mijares, on behalf of iHealthcare Management
II Company and Jorge A. Perez, on behalf of Empower Capital Group, LLLP.

 

 

 

[SIGNATURE PAGE FOLLOWS]

--------------------------------------------------------------------------------

pg. 4  iHealthcare Promissory Note / Empower Capital Group, LLLP

--------------------------------------------------------------------------------

IN WITNESS WHEREOF, this Agreement has been executed and delivered in the manner
prescribed by law as of the date first written above.

 

Signed this 7th day of January 2019, at Miami, Florida.

 

Borrower:

iHealthcare Management Company

 

         

By:/s/Noel Mijares

Noel Mijares, CEO

 

 

Lender:

Empower Capital Group, LLLP on behalf of Jorge A. Perez and Ricardo J. Perez.

 

         

By:/s/ Jorge A. Perez

Jorge A. Perez, Managing Partner, Empower Capital Group, LLLP

 

 

--------------------------------------------------------------------------------

pg. 5  iHealthcare Promissory Note / Empower Capital Group, LLLP

 

[image_067.jpg]

PROMISSORY NOTE

Lauderdale Community Hospital

 

 

Note: $1,656,231.00 Effective Date: January 7, 2019 

 

For value received, under the Business Development Agreement [related to the
delivery of an executed Management and Administrative services Agreement for CAH
Acquisition Company 11, LLC D/B/A Lauderdale Community Hospital (LCH)] that has
been duly executed between iHealthcare Management II Company and the Managing
Partner of LCH, the undersigned iHealthcare Management II Company, a Florida
Corporation (the "Borrower"), at 3901 NW 28th Street, 2nd Floor, Miami, Florida
33142, promises to pay Empower Capital Group, LLLP at the direction of Jorge A.
Perez and Ricardo J. Perez (the "Lender"), at 201 Alhambra Circle, Suite 702,
Coral Gables, FL 33134(or at such other place as the Lender may designate in
writing), the sum of One Million Six Hundred Fifty Six Thousand Two Hundred
Thirty One Dollars $1,656,231.00 with interest from January 7, 2019, on the
unpaid principal at the rate of 4% per annum.

 

I. TERMS OF REPAYMENT

 

A. Payments

 

The unpaid principal and accrued interest shall be payable in annual
installments of $165,623.10 plus 4% interest on the unpaid balance beginning on
January 7, 2020, and continuing annually until January 6, 2030, (the "Due
Date"), at which time the remaining unpaid principal and interest shall be due
in full.

 

B. Application of Payments

 

All payments on this Note shall be applied first in payment of accrued interest
and any remainder in payment of principal.

 

C. Offsets:

 

Offsets: This Agreement is based on the premise that the Hospital Management and
Administrative Services Agreements will be in effect for 10 full years which
enables iHealthcare to fund the payments for the Promissory Note during this
term. Therefore, there may be a pro rata offset to the balance of the Promissory
Note if one or more of the following occur during the ten-year term:

 

a) Any early cancellation or termination of the contract that is not as a result
of  

--------------------------------------------------------------------------------

pg. 1  iHealthcare Promissory Note / Empower Capital Group, LLLP

--------------------------------------------------------------------------------

breach of contract by iHealthcare.

b)Failure to enforce the tagalong provision of the contract. 

c)A Hospital ownership action to close the hospital. 

d)Loss or suspension of Hospital License or Medicare Provider status relating to
events occurring prior to closing. 

e)In the event that the hospital closes or is placed in receivership, files for
bankruptcy, becomes insolvent or is assigned to creditors, the portion of the
Success Fee listed in the Business Development Agreement shall be adjusted
accordingly and the remaining portion of this Promissory Note shall be adjusted
to reflect the change in event and the balance due shall be reduced to reflect
that portion for the remaining term of the note. 

f)Any Offset is subject to arbitration and other remedies as specified in the
Hospital Management and Administrative Services Agreement.   

g)Liabilities incurred prior to closing.  

 

Lender Participation: Any claims sought under this provision shall be vigorously
contested with the full involvement and participation of the Lender, including
access to documents, participation in meetings and conference calls and final
settlement discussions. Lender will pay their own expenses, if any, incurred by
the Seller in this process.

 

 

II. PREPAYMENT

 

The Borrower reserves the right to prepay this Note (in whole or in part) prior
to the Due Date with no prepayment penalty. Any such prepayment shall be applied
against the installments of principal due under this note in the inverse order
of their maturity and shall be accompanied by payment of accrued interest on the
amount prepaid to the date of prepayment.

 

This Promissory Note and/or interest may further be prepaid without penalty, in
full or in part, in cash or common stock of iHealthcare, Inc. at the option of
iHealthcare.

 

 

III. COLLECTION COSTS

 

If any payment obligation under this Note is not paid when due, the Borrower
promises to pay all costs of collection, including reasonable attorney fees,
whether or not a lawsuit is commenced as part of the collection process.

 

 

 IV. DEFAULT  

 

If any of the following events of default occur, this Note and any other
obligations of the Borrower to the Lender shall become due immediately, without
demand or notice:

 

1) the failure of the Borrower to pay the principal and any accrued interest
when due;

 

2) the liquidation, dissolution, incompetency or death of the Borrower;

--------------------------------------------------------------------------------

pg. 2  iHealthcare Promissory Note / Empower Capital Group, LLLP

--------------------------------------------------------------------------------

 

3) the filing of bankruptcy proceedings involving the Borrower as a debtor;

 

4) the application for the appointment of a receiver for the Borrower;

 

5) the making of a general assignment for the benefit of the Borrower's
creditors;

 

6) the insolvency of the Borrower;

 

7) a misrepresentation by the Borrower to the Lender for the purpose of
obtaining or extending credit; or

 

8) the sale of a material portion of the business or assets of the Borrower.

 

In the event of a default, iHealthcare shall be granted 45 days to cure, as
stipulated in the Management and Administrative Services Agreement.

 

In the event of failure to cure the default after the 45-day period and remedies
specified in the Management and Administrative Services Agreement, the
management agreement shall be surrendered to the Lender as security.

 

 V. SEVERABILITY OF PROVISIONS

 

If any one or more of the provisions of this Note are determined to be
unenforceable, in whole or in part, for any reason, the remaining provisions
shall remain fully operative.

 

VI. MISCELLANEOUS

 

All payments of principal and interest on this Note shall be paid in the legal
currency of the United States.

 

This note may not be amended without the written approval of the holder.

 

VII. GOVERNING LAW AND DISPUTE RESOLTUION

 

This Note shall be governed by and interpreted in accordance with the laws of
the State of Florida. IF A DISPUTE ARISES, THE PARTIES WILL: (a) RESOLVE ALL
DISPUTES BY BINDING ARBITRATION HELD IN MIAMI-DADE COUNTY, FLORIDA BEFORE A
SINGLE ARBITRATOR FROM JUDICIAL ARBITRATION AND MEDIATION SERVICES, INC.
("JAMS"); AND (b) WAIVE ANY RIGHT TO CIVIL TRIAL BY JUDGE OR JURY.
Notwithstanding the foregoing, all claims alleging violation of restrictive
covenants, mishandling of Confidential Information, or transgression of
intellectual property rights, shall be subject to the exclusive jurisdiction, in
Miami, Florida, of either the Florida state courts or the US District Court.
Before accepting appointment, the arbitrator shall agree: (a) that the
arbitrator's award shall be made within nine (9) months of the filing of a
notice of intention (or demand) to arbitrate (but it may be extended by written
agreement of the parties); (b) to base any decision or award on governing law;
(c) to not award punitive or other damages that are  not measured by the
prevailing

--------------------------------------------------------------------------------

pg. 3  iHealthcare Promissory Note / Empower Capital Group, LLLP

--------------------------------------------------------------------------------

party's actual damages, except as may be required by statute; and (d) to issue
an award in writing within ten (10) days of concluding the presentation of
evidence and briefs. Judgment may be entered in any court having jurisdiction
thereof. The prevailing party shall be entitled to recover from the other party
its costs and expenses, including reasonable attorney's fees.

 

 

VIII. SIGNATURES

 

This Note shall be signed by Noel Mijares, on behalf of iHealthcare Management
II Company and Jorge A. Perez, on behalf of Empower Capital Group, LLLP.

 

 

 

 

[SIGNATURE PAGE FOLLOWS]

--------------------------------------------------------------------------------

pg. 4  iHealthcare Promissory Note / Empower Capital Group, LLLP

--------------------------------------------------------------------------------

IN WITNESS WHEREOF, this Agreement has been executed and delivered in the manner
prescribed by law as of the date first written above.

 

Signed this 7th day of January, 2019, at Miami, Florida.

 

 

Borrower:

iHealthcare Management Company

 

         

By:/s/Noel Mijares

Noel Mijares, CEO

 

 

Lender:

Empower Capital Group, LLLP on behalf of Jorge A. Perez and Ricardo J. Perez.

 

         

By:/s/ Jorge A. Perez

Jorge A. Perez, Managing Partner, Empower Capital Group, LLLP

 

 

--------------------------------------------------------------------------------

pg. 5  iHealthcare Promissory Note / Empower Capital Group, LLLP

 

[image_039.jpg]

PROMISSORY NOTE

Oswego Community Hospital

 

 

Note: $516,708.00 Effective Date: January 7, 2019 

 

For value received, under the Business Development Agreement [related to the
delivery of an executed Management and Administrative services Agreement for CAH
Acquisition Company 2, LLC D/B/A Oswego Community Hospital (OCH)] that has been
duly executed between iHealthcare Management II Company and the Managing Partner
of OCH, the undersigned iHealthcare Management II Company, a Florida Corporation
(the "Borrower"), at 3901 NW 28th Street, 2nd Floor, Miami, Florida 33142,
promises to pay Empower Capital Group, LLLP at the direction of Jorge A. Perez
and Ricardo J. Perez (the "Lender"), at 201 Alhambra Circle, Suite 702, Coral
Gables, FL 33134(or at such other place as the Lender may designate in writing),
the sum of Five Hundred Sixteen Thousand Seven Hundred Eight Dollars $516,708.00
with interest from January 7, 2019, on the unpaid principal at the rate of 4%
per annum.

 

I. TERMS OF REPAYMENT

 

A. Payments

 

The unpaid principal and accrued interest shall be payable in annual
installments of $51,670.80 plus 4% interest on the unpaid balance beginning on
January 7, 2020, and continuing annually until January 6, 2030, (the "Due
Date"), at which time the remaining unpaid principal and interest shall be due
in full.

 

B. Application of Payments

 

All payments on this Note shall be applied first in payment of accrued interest
and any remainder in payment of principal.

 

C. Offsets:

 

Offsets: This Agreement is based on the premise that the Hospital Management and
Administrative Services Agreements will be in effect for 10 full years which
enables iHealthcare to fund the payments for the Promissory Note during this
term. Therefore, there may be a pro rata offset to the balance of the Promissory
Note if one or more of the following occur during the ten-year term:

 

a) Any early cancellation or termination of the contract that is not as a result
of  

--------------------------------------------------------------------------------

pg. 1  iHealthcare Promissory Note / Empower Capital Group, LLLP

--------------------------------------------------------------------------------

breach of contract by iHealthcare.

b)Failure to enforce the tagalong provision of the contract. 

c)A Hospital ownership action to close the hospital. 

d)Loss or suspension of Hospital License or Medicare Provider status relating to
events occurring prior to closing. 

e)In the event that the hospital closes or is placed in receivership, files for
bankruptcy, becomes insolvent or is assigned to creditors, the portion of the
Success Fee listed in the Business Development Agreement shall be adjusted
accordingly and the remaining portion of this Promissory Note shall be adjusted
to reflect the change in event and the balance due shall be reduced to reflect
that portion for the remaining term of the note. 

f)Any Offset is subject to arbitration and other remedies as specified in the
Hospital Management and Administrative Services Agreement.   

g)Liabilities incurred prior to closing.  

 

Lender Participation: Any claims sought under this provision shall be vigorously
contested with the full involvement and participation of the Lender, including
access to documents, participation in meetings and conference calls and final
settlement discussions. Lender will pay their own expenses, if any, incurred by
the Seller in this process.

 

 

II. PREPAYMENT

 

The Borrower reserves the right to prepay this Note (in whole or in part) prior
to the Due Date with no prepayment penalty. Any such prepayment shall be applied
against the installments of principal due under this note in the inverse order
of their maturity and shall be accompanied by payment of accrued interest on the
amount prepaid to the date of prepayment.

 

This Promissory Note and/or interest may further be prepaid without penalty, in
full or in part, in cash or common stock of iHealthcare, Inc. at the option of
iHealthcare.

 

 

III. COLLECTION COSTS

 

If any payment obligation under this Note is not paid when due, the Borrower
promises to pay all costs of collection, including reasonable attorney fees,
whether or not a lawsuit is commenced as part of the collection process.

 

 

 IV. DEFAULT  

 

If any of the following events of default occur, this Note and any other
obligations of the Borrower to the Lender shall become due immediately, without
demand or notice:

 

1) the failure of the Borrower to pay the principal and any accrued interest
when due;

 

2) the liquidation, dissolution, incompetency or death of the Borrower;

--------------------------------------------------------------------------------

pg. 2  iHealthcare Promissory Note / Empower Capital Group, LLLP

--------------------------------------------------------------------------------

 

3) the filing of bankruptcy proceedings involving the Borrower as a debtor;

 

4) the application for the appointment of a receiver for the Borrower;

 

5) the making of a general assignment for the benefit of the Borrower's
creditors;

 

6) the insolvency of the Borrower;

 

7) a misrepresentation by the Borrower to the Lender for the purpose of
obtaining or extending credit; or

 

8) the sale of a material portion of the business or assets of the Borrower.

 

In the event of a default, iHealthcare shall be granted 45 days to cure, as
stipulated in the Management and Administrative Services Agreement.

 

In the event of failure to cure the default after the 45-day period and remedies
specified in the Management and Administrative Services Agreement, the
management agreement shall be surrendered to the Lender as security.

 

 V. SEVERABILITY OF PROVISIONS

 

If any one or more of the provisions of this Note are determined to be
unenforceable, in whole or in part, for any reason, the remaining provisions
shall remain fully operative.

 

VI. MISCELLANEOUS

 

All payments of principal and interest on this Note shall be paid in the legal
currency of the United States.

 

This note may not be amended without the written approval of the holder.

 

VII. GOVERNING LAW AND DISPUTE RESOLTUION

 

This Note shall be governed by and interpreted in accordance with the laws of
the State of Florida. IF A DISPUTE ARISES, THE PARTIES WILL: (a) RESOLVE ALL
DISPUTES BY BINDING ARBITRATION HELD IN MIAMI-DADE COUNTY, FLORIDA BEFORE A
SINGLE ARBITRATOR FROM JUDICIAL ARBITRATION AND MEDIATION SERVICES, INC.
("JAMS"); AND (b) WAIVE ANY RIGHT TO CIVIL TRIAL BY JUDGE OR JURY.
Notwithstanding the foregoing, all claims alleging violation of restrictive
covenants, mishandling of Confidential Information, or transgression of
intellectual property rights, shall be subject to the exclusive jurisdiction, in
Miami, Florida, of either the Florida state courts or the US District Court.
Before accepting appointment, the arbitrator shall agree: (a) that the
arbitrator's award shall be made within nine (9) months of the filing of a
notice of intention (or demand) to arbitrate (but it may be extended by written
agreement of the parties); (b) to base any decision or award on governing law;
(c) to not award punitive or other damages that are  not measured by the
prevailing

--------------------------------------------------------------------------------

pg. 3  iHealthcare Promissory Note / Empower Capital Group, LLLP

--------------------------------------------------------------------------------

party's actual damages, except as may be required by statute; and (d) to issue
an award in writing within ten (10) days of concluding the presentation of
evidence and briefs. Judgment may be entered in any court having jurisdiction
thereof. The prevailing party shall be entitled to recover from the other party
its costs and expenses, including reasonable attorney's fees.

 

 

VIII. SIGNATURES

 

This Note shall be signed by Noel Mijares, on behalf of iHealthcare Management
II Company and Jorge A. Perez, on behalf of Empower Capital Group, LLLP.

 

 

 

[SIGNATURE PAGE FOLLOWS]

--------------------------------------------------------------------------------

pg. 4  iHealthcare Promissory Note / Empower Capital Group, LLLP

--------------------------------------------------------------------------------

IN WITNESS WHEREOF, this Agreement has been executed and delivered in the manner
prescribed by law as of the date first written above.

 

Signed this 7th day of January 2019, at Miami, Florida.

 

 

Borrower:

iHealthcare Management Company

 

         

By:/s/Noel Mijares

Noel Mijares, CEO

 

 

Lender:

Empower Capital Group, LLLP on behalf of Jorge A. Perez and Ricardo J. Perez.

 

         

By:/s/ Jorge A. Perez

Jorge A. Perez, Managing Partner, Empower Capital Group, LLLP

 

 

--------------------------------------------------------------------------------

pg. 5  iHealthcare Promissory Note / Empower Capital Group, LLLP

 

[image_067.jpg]

PROMISSORY NOTE

Prague Community Hospital

 

 

Note: $685,082.00 Effective Date: January 7, 2019 

 

For value received, under the Business Development Agreement [related to the
delivery of an executed Management and Administrative services Agreement for CAH
Acquisition Company 7, LLC D/B/A Prague Community Hospital (PCH)] that has been
duly executed between iHealthcare Management II Company and the Managing Partner
of PCH, the undersigned iHealthcare Management II Company, a Florida Corporation
(the "Borrower"), at 3901 NW 28th Street, 2nd Floor, Miami, Florida 33142,
promises to pay Empower Capital Group, LLLP at the direction of Jorge A. Perez
and Ricardo J. Perez (the "Lender"), at 201 Alhambra Circle, Suite 702, Coral
Gables, FL 33134(or at such other place as the Lender may designate in writing),
the sum of Six Hundred Eighty Five Thousand Eighty Two Dollars $685,082.00 with
interest from January 7, 2019, on the unpaid principal at the rate of 4% per
annum.

 

I. TERMS OF REPAYMENT

 

A. Payments

 

The unpaid principal and accrued interest shall be payable in annual
installments of $68,508.20 plus 4% interest on the unpaid balance beginning on
January 7, 2020, and continuing annually until January 6, 2030, (the "Due
Date"), at which time the remaining unpaid principal and interest shall be due
in full.

 

B. Application of Payments

 

All payments on this Note shall be applied first in payment of accrued interest
and any remainder in payment of principal.

 

C. Offsets:

 

Offsets: This Agreement is based on the premise that the Hospital Management and
Administrative Services Agreements will be in effect for 10 full years which
enables iHealthcare to fund the payments for the Promissory Note during this
term. Therefore, there may be a pro rata offset to the balance of the Promissory
Note if one or more of the following occur during the ten-year term:

 

a) Any early cancellation or termination of the contract that is not as a result
of  

--------------------------------------------------------------------------------

pg. 1  iHealthcare Promissory Note / Empower Capital Group, LLLP

--------------------------------------------------------------------------------

breach of contract by iHealthcare.

b)Failure to enforce the tagalong provision of the contract. 

c)A Hospital ownership action to close the hospital. 

d)Loss or suspension of Hospital License or Medicare Provider status relating to
events occurring prior to closing. 

e)In the event that the hospital closes or is placed in receivership, files for
bankruptcy, becomes insolvent or is assigned to creditors, the portion of the
Success Fee listed in the Business Development Agreement shall be adjusted
accordingly and the remaining portion of this Promissory Note shall be adjusted
to reflect the change in event and the balance due shall be reduced to reflect
that portion for the remaining term of the note. 

f)Any Offset is subject to arbitration and other remedies as specified in the
Hospital Management and Administrative Services Agreement.   

g)Liabilities incurred prior to closing.  

 

Lender Participation: Any claims sought under this provision shall be vigorously
contested with the full involvement and participation of the Lender, including
access to documents, participation in meetings and conference calls and final
settlement discussions. Lender will pay their own expenses, if any, incurred by
the Seller in this process.

 

 

II. PREPAYMENT

 

The Borrower reserves the right to prepay this Note (in whole or in part) prior
to the Due Date with no prepayment penalty. Any such prepayment shall be applied
against the installments of principal due under this note in the inverse order
of their maturity and shall be accompanied by payment of accrued interest on the
amount prepaid to the date of prepayment.

 

This Promissory Note and/or interest may further be prepaid without penalty, in
full or in part, in cash or common stock of iHealthcare, Inc. at the option of
iHealthcare.

 

 

III. COLLECTION COSTS

 

If any payment obligation under this Note is not paid when due, the Borrower
promises to pay all costs of collection, including reasonable attorney fees,
whether or not a lawsuit is commenced as part of the collection process.

 

 

 IV. DEFAULT  

 

If any of the following events of default occur, this Note and any other
obligations of the Borrower to the Lender shall become due immediately, without
demand or notice:

 

1) the failure of the Borrower to pay the principal and any accrued interest
when due;

 

2) the liquidation, dissolution, incompetency or death of the Borrower;

--------------------------------------------------------------------------------

pg. 2  iHealthcare Promissory Note / Empower Capital Group, LLLP

--------------------------------------------------------------------------------

 

3) the filing of bankruptcy proceedings involving the Borrower as a debtor;

 

4) the application for the appointment of a receiver for the Borrower;

 

5) the making of a general assignment for the benefit of the Borrower's
creditors;

 

6) the insolvency of the Borrower;

 

7) a misrepresentation by the Borrower to the Lender for the purpose of
obtaining or extending credit; or

 

8) the sale of a material portion of the business or assets of the Borrower.

 

In the event of a default, iHealthcare shall be granted 45 days to cure, as
stipulated in the Management and Administrative Services Agreement.

 

In the event of failure to cure the default after the 45-day period and remedies
specified in the Management and Administrative Services Agreement, the
management agreement shall be surrendered to the Lender as security.

 

 V. SEVERABILITY OF PROVISIONS

 

If any one or more of the provisions of this Note are determined to be
unenforceable, in whole or in part, for any reason, the remaining provisions
shall remain fully operative.

 

VI. MISCELLANEOUS

 

All payments of principal and interest on this Note shall be paid in the legal
currency of the United States.

 

This note may not be amended without the written approval of the holder.

 

VII. GOVERNING LAW AND DISPUTE RESOLTUION

 

This Note shall be governed by and interpreted in accordance with the laws of
the State of Florida. IF A DISPUTE ARISES, THE PARTIES WILL: (a) RESOLVE ALL
DISPUTES BY BINDING ARBITRATION HELD IN MIAMI-DADE COUNTY, FLORIDA BEFORE A
SINGLE ARBITRATOR FROM JUDICIAL ARBITRATION AND MEDIATION SERVICES, INC.
("JAMS"); AND (b) WAIVE ANY RIGHT TO CIVIL TRIAL BY JUDGE OR JURY.
Notwithstanding the foregoing, all claims alleging violation of restrictive
covenants, mishandling of Confidential Information, or transgression of
intellectual property rights, shall be subject to the exclusive jurisdiction, in
Miami, Florida, of either the Florida state courts or the US District Court.
Before accepting appointment, the arbitrator shall agree: (a) that the
arbitrator's award shall be made within nine (9) months of the filing of a
notice of intention (or demand) to arbitrate (but it may be extended by written
agreement of the parties); (b) to base any decision or award on governing law;
(c) to not award punitive or other damages that are  not measured by the
prevailing

--------------------------------------------------------------------------------

pg. 3  iHealthcare Promissory Note / Empower Capital Group, LLLP

--------------------------------------------------------------------------------

party's actual damages, except as may be required by statute; and (d) to issue
an award in writing within ten (10) days of concluding the presentation of
evidence and briefs. Judgment may be entered in any court having jurisdiction
thereof. The prevailing party shall be entitled to recover from the other party
its costs and expenses, including reasonable attorney's fees.

 

 

VIII. SIGNATURES

 

This Note shall be signed by Noel Mijares, on behalf of iHealthcare Management
II Company and Jorge A. Perez, on behalf of Empower Capital Group, LLLP.

 

 

 

[SIGNATURE PAGE FOLLOWS]

--------------------------------------------------------------------------------

pg. 4  iHealthcare Promissory Note / Empower Capital Group, LLLP

--------------------------------------------------------------------------------

IN WITNESS WHEREOF, this Agreement has been executed and delivered in the manner
prescribed by law as of the date first written above.

 

Signed this 7th day of January 2019, at Miami, Florida.

 

 

Borrower:

iHealthcare Management Company

 

         

By:/s/Noel Mijares

Noel Mijares, CEO

 

 

Lender:

Empower Capital Group, LLLP on behalf of Jorge A. Perez and Ricardo J. Perez.

 

         

By:/s/ Jorge A. Perez

Jorge A. Perez, Managing Partner, Empower Capital Group, LLLP

 

 

--------------------------------------------------------------------------------

pg. 5  iHealthcare Promissory Note / Empower Capital Group, LLLP

 

[image_041.jpg]

PROMISSORY NOTE

Washington County Hospital

 

 

Note: $1,278,560.00 Effective Date: January 7, 2019 

 

For value received, under the Business Development Agreement [related to the
delivery of an executed Management and Administrative Services Agreement for CAH
Acquisition Company 1, LLC D/B/A Washington County Hospital (WCH)] that has been
duly executed between iHealthcare Management II Company and the Managing Partner
of WCH, the undersigned iHealthcare Management II Company, a Florida Corporation
(the "Borrower"), at 3901 NW 28th Street, 2nd Floor, Miami, Florida 33142,
promises to pay Empower Capital Group, LLLP at the direction of Jorge A. Perez
and Ricardo J. Perez (the "Lender"), at 201 Alhambra Circle, Suite 702, Coral
Gables, FL 33134(or at such other place as the Lender may designate in writing),
the sum of One Million Two Hundred Seventy Eight Thousand Five Hundred Sixty
Dollars $1,278,560.00 with interest from January 7, 2019, on the unpaid
principal at the rate of 4% per annum.

 

I. TERMS OF REPAYMENT

 

A. Payments

 

The unpaid principal and accrued interest shall be payable in annual
installments of $127,856.00 plus 4% interest on the unpaid balance beginning on
January 7, 2020, and continuing annually until January 6, 2030, (the "Due
Date"), at which time the remaining unpaid principal and interest shall be due
in full.

 

B. Application of Payments

 

All payments on this Note shall be applied first in payment of accrued interest
and any remainder in payment of principal.

 

C. Offsets:

 

Offsets: This Agreement is based on the premise that the Hospital Management and
Administrative Services Agreements will be in effect for 10 full years which
enables iHealthcare to fund the payments for the Promissory Note during this
term. Therefore, there may be a pro rata offset to the balance of the Promissory
Note if one or more of the following occur during the ten-year term:

--------------------------------------------------------------------------------

pg. 1  iHealthcare Promissory Note / Empower Capital Group, LLLP

--------------------------------------------------------------------------------

a) Any early cancellation or termination of the contract that is not as a result
of breach of contract by iHealthcare. 

b)Failure to enforce the tagalong provision of the contract. 

c)A Hospital ownership action to close the hospital. 

d)Loss or suspension of Hospital License or Medicare Provider status relating to
events occurring prior to closing. 

e)In the event that the hospital closes or is placed in receivership, files for
bankruptcy, becomes insolvent or is assigned to creditors, the portion of the
Success Fee listed in the Business Development Agreement shall be adjusted
accordingly and the remaining portion of this Promissory Note shall be adjusted
to reflect the change in event and the balance due shall be reduced to reflect
that portion for the remaining term of the note. 

f)Any Offset is subject to arbitration and other remedies as specified in the
Hospital Management and Administrative Services Agreement.   

g)Liabilities incurred prior to closing.  

 

Lender Participation: Any claims sought under this provision shall be vigorously
contested with the full involvement and participation of the Lender, including
access to documents, participation in meetings and conference calls and final
settlement discussions. Lender will pay their own expenses, if any, incurred by
the Seller in this process.

 

 

II. PREPAYMENT

 

The Borrower reserves the right to prepay this Note (in whole or in part) prior
to the Due Date with no prepayment penalty. Any such prepayment shall be applied
against the installments of principal due under this note in the inverse order
of their maturity and shall be accompanied by payment of accrued interest on the
amount prepaid to the date of prepayment.

 

This Promissory Note and/or interest may further be prepaid without penalty, in
full or in part, in cash or common stock of iHealthcare, Inc. at the option of
iHealthcare.

 

 

III. COLLECTION COSTS

 

If any payment obligation under this Note is not paid when due, the Borrower
promises to pay all costs of collection, including reasonable attorney fees,
whether or not a lawsuit is commenced as part of the collection process.

 

 

 IV. DEFAULT  

 

If any of the following events of default occur, this Note and any other
obligations of the Borrower to the Lender shall become due immediately, without
demand or notice:

 

1) the failure of the Borrower to pay the principal and any accrued interest
when due;

 

--------------------------------------------------------------------------------

pg. 2  iHealthcare Promissory Note / Empower Capital Group, LLLP

--------------------------------------------------------------------------------

2) the liquidation, dissolution, incompetency or death of the Borrower;

 

3) the filing of bankruptcy proceedings involving the Borrower as a debtor;

 

4) the application for the appointment of a receiver for the Borrower;

 

5) the making of a general assignment for the benefit of the Borrower's
creditors;

 

6) the insolvency of the Borrower;

 

7) a misrepresentation by the Borrower to the Lender for the purpose of
obtaining or extending credit; or

 

8) the sale of a material portion of the business or assets of the Borrower.

 

In the event of a default, iHealthcare shall be granted 45 days to cure, as
stipulated in the Management and Administrative Services Agreement.

 

In the event of failure to cure the default after the 45-day period and remedies
specified in the Management and Administrative Services Agreement, the
management agreement shall be surrendered to the Lender as security.

 

 V. SEVERABILITY OF PROVISIONS

 

If any one or more of the provisions of this Note are determined to be
unenforceable, in whole or in part, for any reason, the remaining provisions
shall remain fully operative.

 

VI. MISCELLANEOUS

 

All payments of principal and interest on this Note shall be paid in the legal
currency of the United States.

 

This note may not be amended without the written approval of the holder.

 

VII. GOVERNING LAW AND DISPUTE RESOLTUION

 

This Note shall be governed by and interpreted in accordance with the laws of
the State of Florida. IF A DISPUTE ARISES, THE PARTIES WILL: (a) RESOLVE ALL
DISPUTES BY BINDING ARBITRATION HELD IN MIAMI-DADE COUNTY, FLORIDA BEFORE A
SINGLE ARBITRATOR FROM JUDICIAL ARBITRATION AND MEDIATION SERVICES, INC.
("JAMS"); AND (b) WAIVE ANY RIGHT TO CIVIL TRIAL BY JUDGE OR JURY.
Notwithstanding the foregoing, all claims alleging violation of restrictive
covenants, mishandling of Confidential Information, or transgression of
intellectual property rights, shall be subject to the exclusive jurisdiction, in
Miami, Florida, of either the Florida state courts or the US District Court.
Before accepting appointment, the arbitrator shall agree: (a) that the
arbitrator's award shall be made within nine (9) months of the filing of a
notice of intention (or demand) to arbitrate (but it may be extended by written
agreement of the parties); (b) to base any decision or award on

--------------------------------------------------------------------------------

pg. 3  iHealthcare Promissory Note / Empower Capital Group, LLLP

--------------------------------------------------------------------------------

governing law; (c) to not award punitive or other damages that are  not measured
by the prevailing party's actual damages, except as may be required by statute;
and (d) to issue an award in writing within ten (10) days of concluding the
presentation of evidence and briefs. Judgment may be entered in any court having
jurisdiction thereof. The prevailing party shall be entitled to recover from the
other party its costs and expenses, including reasonable attorney's fees.

 

 

VIII. SIGNATURES

 

This Note shall be signed by Noel Mijares, on behalf of iHealthcare Management
II Company and Jorge A. Perez, on behalf of Empower Capital Group, LLLP.

 

 

 

[SIGNATURE PAGE FOLLOWS]

--------------------------------------------------------------------------------

pg. 4  iHealthcare Promissory Note / Empower Capital Group, LLLP

--------------------------------------------------------------------------------

IN WITNESS WHEREOF, this Agreement has been executed and delivered in the manner
prescribed by law as of the date first written above.

 

Signed this 7th day of January 2019, at Miami, Florida.

 

Borrower:

iHealthcare Management Company

 

         

By:/s/Noel Mijares

Noel Mijares, CEO

 

 

Lender:

Empower Capital Group, LLLP on behalf of Jorge A. Perez and Ricardo J. Perez.

 

         

By:/s/ Jorge A. Perez

Jorge A. Perez, Managing Partner, Empower Capital Group, LLLP

 

 

--------------------------------------------------------------------------------

pg. 5  iHealthcare Promissory Note / Empower Capital Group, LLLP