Exhibit 10.2


 


	SBA Loan #7040527908	Application #3000020655


 


NOTE


 


A PROPERLY SIGNED NOTE IS

 REQUIRED
PRIOR TO ANY 

DISBURSEMENT


 







CAREFULLY READ THE NOTE: It is your
promise to repay the loan.


 


		·	The Note is pre-dated. DO NOT CHANGE THE DATE OF THE NOTE.



		·	LOAN PAYMENTS will be due as stated in the Note.



		·	ANY CORRECTIONS OR UNAUTHORIZED MARKS MAY VOID THIS DOCUMENT.









 







SIGNING THE NOTE: All borrowers must
sign the Note.


 


		·	Sign your name exactly as it appears on the Note. If typed incorrectly, you should
sign with the correct spelling.



		·	If your middle initial appears on the signature line, sign with your middle initial.



		·	If a suffix appears on the signature line, such as Sr. or Jr., sign with your suffix.



		·	Corporate Signatories: Authorized representatives should sign the signature page.









 




    


     


    

 


	SBA Loan #7040527908	Application #3000020655


 


	
        

        
	
        U.S. Small Business Administration

         

         

        Note

         

        (secured
        disaster loans)

        
	Date: 06.17.2020
	
         

        Loan Amount: $150,000.00

	
         

        Annual Interest Rate: 3.75%

         



 


	SBA Loan # 7040527908	Application #3000020655


 


		1.	PROMISE TO PAY: In return for a loan, Borrower promises to pay to the order of SBA the amount of one hundred and
fifty thousand and 00/100 Dollars ($150,000.00), interest on the unpaid principal balance, and all other amounts required
by this Note.



 


		2.	DEFINITIONS: A) “Collateral” means any property taken as security for payment of this Note or any guarantee
of this Note. B) “Guarantor” means each person or entity that signs a guarantee of payment of this Note. C)
“Loan Documents” means the documents related to this loan signed by Borrower, any Guarantor, or anyone who pledges
collateral.



 


		3.	PAYMENT TERMS: Borrower must make all payments at the place SBA designates. Borrower may prepay this Note in part or
in full at any time, without notice or penalty. Borrower must pay principal and interest payments of $731.00 every month beginning
Twelve (12) months from the date of the Note. SBA will apply each installment payment first to pay interest accrued
to the day SBA receives the payment and will then apply any remaining balance to reduce principal. All remaining principal and
accrued interest is due and payable Thirty (30) years from the date of the Note.






 


		4.	DEFAULT: Borrower is in default under this Note if Borrower does not make a payment when due under this Note, or if
Borrower: A) Fails to comply with any provision of this Note, the Loan Authorization and Agreement, or other Loan Documents;
B) Defaults on any other SBA loan; C) Sells or otherwise transfers, or does not preserve or account to SBA’s
satisfaction for, any of the Collateral or its proceeds; D) Does not disclose, or anyone acting on their behalf does not
disclose, any material fact to SBA; E) Makes, or anyone acting on their behalf makes, a materially false or misleading representation
to SBA; F) Defaults on any loan or agreement with another creditor, if SBA believes the default may materially affect Borrower’s
ability to pay this Note; G) Fails to pay any taxes when due; H) Becomes the subject of a proceeding under any bankruptcy
or insolvency law; I) Has a receiver or liquidator appointed for any part of their business or property; J) Makes
an assignment for the benefit of creditors; K) Has any adverse change in financial condition or business operation that
SBA believes may materially affect Borrower’s ability to pay this Note; L) Dies; M) Reorganizes, merges, consolidates,
or otherwise changes ownership or business structure without SBA’s prior written consent; or, N) Becomes the subject
of a civil or criminal action that SBA believes may materially affect Borrower’s ability to pay this Note.



 


		5.	SBA’S RIGHTS IF THERE IS A DEFAULT: Without notice or demand and without giving up any of its rights, SBA may:
A) Require immediate payment of all amounts owing under this Note; B) Have recourse to collect all amounts owing
from any Borrower or Guarantor (if any); C) File suit and obtain judgment; D) Take possession of any Collateral;
or E) Sell, lease, or otherwise dispose of, any Collateral at public or private sale, with or without advertisement.



 


		6.	SBA’S GENERAL POWERS: Without notice and without Borrower’s consent, SBA may: A) Bid on or buy the
Collateral at its sale or the sale of another lienholder, at any price it chooses; B) Collect amounts due under this Note,
enforce the terms of this Note or any other Loan Document, and preserve or dispose of the Collateral. Among other things, the expenses
may include payments for property taxes, prior liens, insurance, appraisals, environmental remediation costs, and reasonable attorney’s
fees and costs. If SBA incurs such expenses, it may demand immediate reimbursement from Borrower or add the expenses to the principal
balance; C) Release anyone obligated to pay this Note; D) Compromise, release, renew, extend or substitute any of
the Collateral; and E) Take any action necessary to protect the Collateral or collect amounts owing on this Note.



 




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	SBA FORM 147 B (5-00)
	 	 



     


    

 


	SBA Loan #7040527908	Application #3000020655



 


		7.	FEDERAL LAW APPLIES: When SBA is the holder, this Note will be interpreted and enforced under federal law, including
SBA regulations. SBA may use state or local procedures for filing papers, recording documents, giving notice, foreclosing liens,
and other purposes. By using such procedures, SBA does not waive any federal immunity from state or local control, penalty, tax,
or liability. As to this Note, Borrower may not claim or assert against SBA any local or state law to deny any obligation, defeat
any claim of SBA, or preempt federal law.



 


		8.	GENERAL PROVISIONS: A) All individuals and entities signing this Note are jointly and severally liable. B) Borrower
waives all suretyship defenses. C) Borrower must sign all documents required at any time to comply with the Loan Documents
and to enable SBA to acquire, perfect, or maintain SBA’s liens on Collateral. D) SBA may exercise any of its rights
separately or together, as many times and in any order it chooses. SBA may delay or forgo enforcing any of its rights without giving
up any of them. E) Borrower may not use an oral statement of SBA to contradict or alter the written terms of this Note.
F) If any part of this Note is unenforceable, all other parts remain in effect. G) To the extent allowed by law,
Borrower waives all demands and notices in connection with this Note, including presentment, demand, protest, and notice of dishonor.
Borrower also waives any defenses based upon any claim that SBA did not obtain any guarantee; did not obtain, perfect, or maintain
a lien upon Collateral; impaired Collateral; or did not obtain the fair market value of Collateral at a sale. H) SBA may
sell or otherwise transfer this Note.



 


		9.	MISUSE OF LOAN FUNDS: Anyone who wrongfully misapplies any proceeds of the loan will be civilly liable to SBA for one
and one- half times the proceeds disbursed, in addition to other remedies allowed by law.



 


		10.	BORROWER’S NAME(S) AND SIGNATURE(S): By signing below, each individual or entity acknowledges and accepts personal
obligation and full liability under the Note as Borrower.



 


	 	Home Bistro Inc	 
	 	 	 
	 	/s/ Scher Duchman	 
	 	Scher Duchman, Owner/Officer	 


 


 


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SBA FORM 147 B (5-00)