Exhibit 10.1


 


PROMISSORY NOTE


 





	$25,000	March 8, 2021



  


FOR VALUE RECEIVED, KLUSMAN
FAMILY HOLDINGS, LLC, an Arizona limited liability company with an address of 2701 E. Camelback Road, Ste. 180, Phoenix, AZ 85016
(“Maker”), agrees and promises to pay to the order of CHEE CORP., a Nevada corporation with an address of 1206
E. Warner Rd, Suite 101-I, Gilbert, AZ 85296 (“Holder”), the sum of Twenty Five Thousand Dollars ($25,000),
with such amount payable to Holder at the address set forth above, or at such other place as Holder may designate.


 


1.       Interest.
This promissory note (this “Note”) bears simple interest at the rate of ten percent (10%) per annum. No interest
payments are due until the Maturity Date.


 


2.       Payments.
The entire balance of this Note is due and payable on or before June 30, 2021 (the “Maturity Date”). Maker may
prepay all or any portion of this Note at any time without penalty.


 


3.       Security.
This Note is unsecured.


 


4.       Use
of Proceeds. The amount advanced by Holder to Maker, the repayment obligation of which is evidenced by this Note, shall be
used by Maker exclusively toward the purchase of real property known as The Collab located at 325 N. Ash in Gilbert, Arizona.


 


5.       Default.
The existence or occurrence of any one or more of the following will constitute an “Event of Default” under
this Note:


 


   4.1       Non-Performance.
Maker’s failure to comply timely and fully with any of the terms or provisions of this Note, including, without limitation,
the failure to pay all amounts due within ten (10) days after the due date.


 


   4.2       Bankruptcy;
Insolvency. Maker being insolvent by being unable to pay debts when due or by having liabilities in excess of assets; or Maker
committing an act of bankruptcy, making a general assignment for the benefit of creditors, or the filing by or against Maker of
a voluntary or involuntary petition in bankruptcy or for the appointment of a receiver (and any involuntary petition is not dismissed
within thirty (30) days from the filing thereof); or if there commences under any law relating to bankruptcy, insolvency, reorganization
or relief of debtors, proceedings affecting any significant part of Maker’s property or for the composition, extension, arrangement,
or adjustment of any of their respective obligations; or if a writ of attachment, execution, or any similar process is issued or
levied against any significant part of Maker’s property that is not released, stayed, bonded, or vacated within a reasonable
time after its issue or levy.


 


6.       Default
Interest. Upon the occurrence of an Event of Default, Holder shall be entitled to receive and Maker shall pay interest on the
entire unpaid principal balance at a rate (the “Default Rate”) equal to fifteen percent (15%) per annum. The
Default Rate shall be computed from the occurrence of the Event of Default until payment in full. This clause, however, shall not
be construed as an agreement or privilege to extend the Maturity Date, nor as a waiver of any other right or remedy accruing to
Holder by reason of the occurrence of any Event of Default.


 


7.       Acceleration.
In addition to all other rights and remedies at law and/or equity Holder may have if an Event of Default occurs, Holder, at its
option without further notice to Maker, may declare immediately due and payable the unpaid principal balance of this Note together
with all other sums owed by Maker under this Note. 


 


8.       Notices.
All notices that Holder or Maker is required or permitted to give under this Note shall be delivered to the addresses of Maker
and Holder as set forth in the opening paragraph.


 


9.       Severability.
If any term or provision of this Note is, to any extent, determined by a court of competent jurisdiction to be invalid or unenforceable,
the remainder of this Note will not be affected, and the invalid or enforceable term or provision will be reduced or otherwise
modified by the court or authority only to the minimum extent necessary to make it valid and enforceable. If any term or provision
cannot be reduced or modified to make it reasonable and permit its enforcement, it will be severed from this Note and the remaining
terms will be interpreted in a way as to give maximum validity and enforceability to this Note. It is the intention of Maker that,
if any provision of this Note is capable of two constructions, one of which would render the provisions void and the other of
which would render the provisions valid, then the provision will have the meaning that renders it valid. 






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10.     Time
of the Essence. Time is of the essence of this Note. Whenever notice must be given, payment made, document delivered, or an
act done under this Note on a day that is not a Business Day, the notice may be given, payment made, document delivered, or act
done on the next following day that is a Business Day. “Business Day” means a day other than a Saturday, Sunday,
or a day observed as a legal holiday by the United States government or the State of Arizona.


 


11.     Governing
Law; Jurisdiction and Venue. This Note is to be governed by and interpreted in accordance with the laws of the State of Arizona.
Any legal action or proceeding with respect to this Note or any document related hereto shall be brought in Maricopa County, Arizona
in any court of competent jurisdiction, and, by execution and delivery of this Note, Maker and the Holder hereby accept the jurisdiction
and venue of such courts.


 


12.     Successors
and Assigns. This Note shall be binding upon and inure to the benefit of Maker and Holder and their respective successors and
permitted assigns. Maker may not voluntarily or involuntarily transfer, convey, or assign this Note, or any of its duties or obligations
hereunder, without Holder’s prior written consent, which may be withheld for any reason, or for no reason at all. As used
herein, the term “Holder” means and includes the successors and permitted assigns of the Holder.


 


13.     Absolute
Obligation. Except as expressly provided herein, no provision of this Note shall alter or impair the obligation of Maker, which
is absolute and unconditional, to pay the principal amount and accrued interest of this Note at the time, place, and rate, and
in the currency, herein prescribed. This Note is a direct debt obligation of Maker.


 


14.     Attorneys’
Fees and Costs. Each party shall bear its own expenses in connection with the issuance of this Note; provided, however, that
if any action at law or in equity is necessary to enforce or interpret the terms of this Note, the prevailing party shall be entitled
to its reasonable attorneys’ fees, costs, and disbursements in addition to any other relief to which such party may be entitled.


 


15.     No
Waiver by Holder. No delay or failure of Holder in exercising any right hereunder shall affect such right, nor shall any single
or partial exercise of any right preclude further exercise thereof.


 


(Signature Page Follows)


 


 


 




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	 	MAKER	 
	 	Klusman Family Holdings, LLC,
	 	an Arizona limited liability company
	 	 	 
	 	By:	/s/ Aaron Klusman
	 	Name: 	Aaron Klusman
	 	Its:	Member


 






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