Exhibit 10.16


 





LOAN AGREEMENT


 


Date: November 1, 2016


 


For value received, the undersigned
Traqer Corp. (the "Borrower"), at 930 Sylvan Avenue, Englewood Cliffs, NJ 07632, promises to pay to the order of Bess
A. Lipschutz (the "Lender") , at 515 Ave I, Suite
3A, Brooklyn, New York 11230 (or at such other place as the Lender may designate in writing), the sum of $20,000.00
with no interest. 


The loan was disbursed as follows:




 


		·	$2,000 on 8/25/2016



		·	$8,000 on 9/16/2016



		·	$6,000 on 10/27/2016



		·	$4,000 on 11/1/2016






 


I. TERMS OF REPAYMENT


 


A. Payments


 


Unpaid principal after the Due
Date shown below shall accrue interest at a rate of 3.5% annually until paid.


 


The unpaid principal shall be payable
in full on December 01, 2019 (the "Due Date").


 


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.
Acceleration of Debt


 


If any payment obligation under this Note is
not paid when due, the remaining unpaid principal balance and any accrued interest shall become due immediately at the option of
the Lender.


 


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.


 


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;


 






     


     


    

 


 


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.


 


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. The Borrower waives presentment for payment,
protest, and notice of protest and demand of this Note.


 


No delay in enforcing any right
of the Lender under this Note, or assignment by Lender
of this Note, or failure to accelerate the debt evidenced
hereby by reason of
default in the payment of a monthly installment or the acceptance
of a past-due installment shall be construed as a waiver of the right of Lender to thereafter
insist upon strict compliance with the terms of this Note without notice being given to Borrower. All rights of the Lender under
this Note are cumulative and may be exercised concurrently or consecutively at the Lender's option.


 


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


 


VII. GOVERNING LAW


 


This Note shall be construed in
accordance with the laws of the State of Nevada.


 


 


VIII. SIGNATURES


 


This Note shall
be signed by:


 


Shlomit C. Frommer, on behalf of Traqer Corp.:  



 



Date: 11/1/2016


 


 


 


Bess A. Lipschutz:


 



Date: 11/1/2016