ex10_1.htm


     

    PROMISSORY
NOTE

     

    October
15, 2009

     

    $1,600

     

    In
consideration of Money Loaned to the Company by Chris Cronin in the aggregate
amount of $1,600, Commonwealth Realty Partners, Inc., a Nevada corporation ("Commonwealth Realty
Partners, Inc.”) hereby promises to pay to the order of Chris
Cronin,  an individual ("Mr. Cronin”), the
amount of $1,600.00 in accordance with the following:

     

    
      	
              1.  

            	

              Payment of Amount
      Owed. Commonwealth Realty Partners, Inc. shall pay Mr. Cronin the
      principal amount
      of this note in on demand.

            


    

     

    
    

    
      	
              2.  

            	
              Interest.
      Interest will accrue on the principal amount of this note at
      0%.

            


    

     

    
      	
              3.  

            	
              Method of Payment.
      Commonwealth Realty Partners, Inc. shall make all payments of
      amounts due under this note by wire transfer of immediately available
      funds to an account designated by Mr. Cronin in a written notice to
      Commonwealth Realty Partners, Inc.

            


    

     

    
      	
              4.  

            	
              Conversion. Mr.
      Cronin is entitled, at his option, to convert at any time into shares of
      Common Stock of the Company at a conversion price of .08 per each share of
      Common Stock.

            


    

     

    
      	
              5.  

            	
              Prepayment.
      Commonwealth Realty Partners, Inc. May prepay
      this note in whole or in part at any time without premium or
      penalty.

            


    

     

    
      	
              6.  

            	
              Events of
      Default. The occurrence of one or more of the following events (an
      "Event  of
      Default-) will cause
      Commonwealth Realty Partners, Inc. to be in default under this
      note:

            


    

     

    
    

    
      	
              a.      

            	
              Commonwealth
      Realty Partners, Inc. fails to make any payment due under section 1 of
      this note or breaches any other obligation contained in this note,
      and

            


    

     

    
      	
              b.      

            	
              Commonwealth
      Realty Partners, Inc. commences any voluntary proceeding under any chapter
      of the Federal Bankruptcy Code or any other law relating to bankruptcy,
      bankruptcy reorganization, insolvency or relief of debtors, or any such
      proceeding is commenced against Commonwealth Realty Partners, Inc. and is
      not dismissed within 60 days from the date on which it is filed or
      instituted.

            


    

     

    
      	
              7.  

            	
              Default Rate.
      Upon occurrence of an Event of Default, the unpaid principal amount
      of this note and any interest accrued thereon will bear interest from the
      date due until that amount is paid in full at an annual rate of 0
      %.

            


    

     

    
      	
              8.  

            	
              Expenses.
      Commonwealth Realty Partners, Inc. shall pay all reasonable
      expenses incurred by Mr. Cronin in connection with the collection and
      enforcement of this note, including without limitation reasonable
      attorneys' fees and costs.

            


    

     

    
      	
              9.  

            	
              Waiver of Presentment.
      Commonwealth Realty Partners, Inc. hereby waives presentment.
      notice of demand for payment, protest, notice of dishonor and any other
      notice of any kind with respect to this
note.

            


    

     

    
      	
              10.  

            	
              Waiver of Rights.
      No delay on the part of Mr. Cronin in exercising any of Mr.
      Cronin's rights nor an partial or single exercise or any of those rights
      constitutes a waiver thereof or of' any other right, and no waiver on the
      part of Mr. Cronin of any of Mr. Cronin's rights constitutes a waiver of
      any other right

            


    

     

    
      	
              11.  

            	

              Amendment. This
      note may only be amended, waived, discharged, or terminated by
      an instrument in writing signed by the party against which enforcement of
      the amendment, waiver, discharge, or termination is
      sought.

            


    

     

    
    

    
      	
              12.  

            	
              Governing Law.
      The laws of the State of Massachusetts, without regard to
      principles of
      conflicts of law, govern all matters arising under this note, including
      without limitation any tort
claim.

            


    

     

    
    

    Commonwealth
Realty Partners, Inc. is executing this note on the date stated at the top of
this note.