LOAN
AGREEMENT


 


THIS
LOAN AGREEMENT (this “Agreement”) dated this 16th day of February, 2014


 


BETWEEN:


 


Laurence
Wainer of 137 South Robertson Blvd. #129 Beverly Hills CA, 90211


(the
“Lender”)


 


OF
THE FIRST PART


 


AND


 


Blow
& Drive Interlock


(the
“Borrower”)


 


OF
THE SECOND PART


 


IN
CONSIDERATION OF the Lender loaning certain monies (the “Loan”)
to the Borrower, an the Borrower repaying the Loan to the Lender, both parties agree to keep, perform and fulfill the promises
and conditions set out in this Agreement:


 


	 	 	Loan
    Amount & Interest
	 	 	 
	 	1.	The
    Lender promises to loan one hundred sixty thousand ($160,000.00) USD, to the Borrower and the Borrower promises to repay this
    principal amount to the Lender, at such address as may be provided in writing, with interest payable on the unpaid principal
    at the rate of 7.75 percent per annum, calculated yearly not in advance.
	 	 	 
	 	 	Payment
	 	 	 
	 	2.	This
    Loan will be repaid in 60 consecutive monthly installments of principal and interest on the first of each month commencing
    the month following execution of this Agreement with the balance owing under this Agreement being paid at the end of its term.
	 	 	 
	 	3.	At
any time while not in default under this Agreement, the Borrower may pay the outstanding balance then owing under this Agreement
to the Lender without further bonus or penalty.

	 	 	 
	 	 	Default
	 	 	 
	 	4.	Notwithstanding
    anything to the contrary in this Agreement, if the Borrower defaults in the performance of any obligation under this Agreement,
    then the Lender may declare the principal amount owing and interest due under this Agreement at that time to be immediately
    due and payable.


 




    	 



    	 



    


 


	 	 	Governing
    Law
	 	 	 
	 	5.	This
    Agreement will be construed in accordance with and governed by the laws of the State of California.
	 	 	 
	 	 	Costs
	 	 	 
	 	6.	All
    costs, expenses and expenditures including, without limitation, the complete legal costs incurred
    by enforcing this Agreement as a result of any default by the Borrower, will be added to
    the principal then outstanding and will immediately be paid by the Borrower.
	 	 	 
	 	 	Binding
    Effect
	 	 	 
	 	7.	This
    Agreement will pass to the benefit of and be binding upon the respective heirs, executors, administrators, successors and
    permitted assigns of the Borrower and Lender. The Borrowerwaives presentment for payment, notice of non-payment, protest,
    and notice of protest.
	 	 	 
	 	 	Amendments
	 	 	 
	 	8.	This
    Agreement may only be amended or modified by a written instrument executed by both the Borrower and the Lender.
	 	 	 
	 	 	Severability
	 	 	 
	 	9.	The
    clauses and paragraphs contained in this Agreement are intended to be read and construed independently of each other. If any
    term, covenant, condition or provision of this Agreement is held by a court of competent jurisdiction to be invalid, void
    or unenforceable, it is the parties’ intent that such provision be reduced in scope by the court only to the extent
    deemed necessary by that court to render the provision reasonable and enforceable and the remainder of the provisions of this
    Agreement will in no way be affected, impaired or invalidated as a result.
	 	 	 
	 	 	General
    Provisions
	 	 	 
	 	10.	Headings
    are inserted for the convenience of the parties only and are not to be considered when interpreting this Agreement. Words
    in the singular mean and include the plural and vice versa. Words in the masculine mean and include the feminine and vice
    versa.
	 	 	 
	 	 	Entire
    Agreement
	 	 	 
	 	11.	This
    Agreement constitutes the entire agreement between the parties and there are no further items or provisions, either oral or
    otherwise.


 


IN
WITNESS WHEREOF, the parties have duly affixed their signatures
under hand and seal on this 16th day of February, 2014.


 


	SIGNED,
                                         SEALED, AND DELIVERED

        
	 	
	this
        16th day of February, 2014 in front of the person below who is over 18 years of age and not involved with the contents
        of this document or related to any of the parties in	 	Laurence
    Wainer


 






    	 



    	 



    

 





	this document	 
	 	 
	 	 
	(signature of witness)	 
	 	 	 
	WITNESS DETAILS:	 
	 	 
	Name:	Robert Garcia	 
	Address:	1111 Altrus Rd	 
	 	 fallbrook, CA 92028	 



 





	SIGNED, SEALED, AND DELIVERED	 	 
	this 16th day of February, 2014 in front of the person below who is over 18 years of age and not involved with the contents of this document or related to any of the parties in this document.	 	 
	 	 	 	 
	 	 	 
	(signature of witness)	 	Blow & Drive Interlock
	 	 	 	 
	WITNESS DETAILS:	 	 
	 	 	 
	Name:	Robert Garcia	 	 
	Address:	1111 Altrus Rd	 	 
	 	92028 fallbrook, CA	 	 



 


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