Document:

EXHIBIT 4.1

 

	LOAN
    NUMBER	LOAN
    NAME	ACCT.
    NUMBER	NOTE
    DATE	INITIALS
	 	 	 	 	 
	2312374	Axion Recycled Plastics Incorporated	 	11/15/13	CAO
	 	 	 	 	 
	NOTE
    AMOUNT	INDEX (w/Margin)	RATE	MATURITY DATE	LOAN
    PURPOSE
	 	 	 	 	 
	$3,500,000.00	Not Applicable	4.250%	11/15/18	Commercial
	 	 	 	 	 
	 	 	Creditor
    Use Only	 	 

 

PROMISSORY
NOTE

(Commercial
- Single Advance)

 

 

DATE
AND PARTIES. The date of this Promissory Note (Note) is November 15, 2013. The parties and their addresses are:

 

LENDER:

THE
COMMUNITY BANK

113
N Fifth Street

Suite
101

Zanesville,
OH 43701

Telephone:
(740) 454-1600

 

BORROWER:

AXION
RECYCLED PLASTICS INCORPORATED

an
Ohio Corporation

4005
All American Way

Zanesville,
OH 43701

 

1.   DEFINITIONS.
As used in this Note, the terms have the following meanings:    

 

A.    Pronouns.
The pronouns "I," "me," and "my"
refer to each Borrower signing this Note, individually and together with their heirs, successors and assigns, and each other person
or legal entity (including guarantors, endorsers, and sureties) who agrees to pay this Note. "You" and "Your"
refer to the Lender, any participants or syndicators, successors and assigns, or any person or company that acquires an interest
in the Loan.

 

B.    Note.
Note refers to this document, and any extensions, renewals,
modifications and substitutions of this Note.

 

C.    Loan.
Loan refers to this transaction generally, including obligations
and duties arising from the terms of all documents prepared or submitted for this transaction such as applications, security agreements,
disclosures or notes, and this Note.

 

D.    Loan
Documents.
Loan Documents refer to all the documents executed as a part of or in connection with the Loan.

 

E.    Property.
Property is any property, real, personal or intangible, that
secures my performance of the obligations of this Loan.

 

F.    Percent.
Rates and rate change limitations are expressed as annualized
percentages.

 

G.    Dollar
Amounts.
All dollar amounts will be payable in lawful money of the United States of America.

 

2.   PROMISE
TO PAY. For value received, I promise to pay you or your order,
at your address, or at such other location as you may designate, the principal sum of $3,500,000.00 (Principal) plus interest from
November 15, 2013 on the unpaid Principal balance until this Note matures or this obligation is accelerated.

 

3.   INTEREST.
Interest will accrue on the unpaid Principal balance of this
Note at the rate of 4.250 percent (Interest Rate).

 

A.    Post-Maturity
Interest. After maturity or acceleration, interest will
accrue on the unpaid Principal balance of this Note at the Interest Rate in effect from time to time,
until paid in full.

 

B.    Maximum
Interest Amount.
Any amount assessed or collected as interest under the terms of this Note will be limited to the maximum lawful amount of interest
allowed by state or federal law, whichever is greater. Amounts collected in excess of the maximum lawful amount will be applied
first to the unpaid Principal balance. Any remainder will be refunded to me.

 

C.    Statutory
Authority.
The amount assessed or collected on this Note is authorized by the Ohio usury laws under Ohio
Rev. Code Ann. chs. 1343 and 1109.

 

D.    Accrual.
Interest accrues using an Actual/360 days counting method.

 

4.   REMEDIAL
CHARGES.
In addition to interest or other finance charges, I agree that I will pay these additional fees based on my method and pattern
of payment. Additional remedial charges may be described elsewhere in this Note.

 

A.    Late
Charge.
If a payment is more than 10 days late, I will be charged 5.000 percent of the Amount of Payment. I will pay this
late charge promptly but only once for each late payment.

 

5.   GOVERNING
AGREEMENT. This Note is further governed by the Commercial
Loan Agreement executed between you and me as a part of this Loan, as modified, amended or supplemented. The Commercial Loan Agreement
states the terms and conditions of this Note, including the terms and conditions under which the maturity of this Note may be accelerated.
When I sign this Note, I represent to you that I have reviewed and am in compliance with the terms contained in the Commercial
Loan Agreement.

 

6.   PAYMENT.
I will make 59 payment(s) of Interest beginning December 15,
2013 and on the 15th day of each month thereafter. I will make 1 payment(s) of Principal in the amount of $75,000.00 on November
15, 2014. I will make 1 payment(s) of Principal in the amount of $75,000.00 on November 15, 2015. I will make 1 payment(s) of
Principal in the amount of $200,000.00 on November 15, 2016. I will make 1 payment(s) of Principal in the amount of $200,000.00
on November 15, 2017. I will make 1 payment(s) of Principal in the amount of $2,950,000.00 plus accrued interest on November 15,
2018. Further subject, however, to the Extension Provision in Paragraph 4 of the Commercial Loan Agreement.

 

	Axion
    Recycled Plastics Incorporated 

Ohio Promissory Note	 	Initials______
	OH/4XXCHRISO00000000000665015N	Wolters
    Kluwer Financial Services ©1996, 2013 Bankers SystemsTM	Page
    1

 

 

    	 

    	 

    

 

Payments
will be rounded to the nearest $.01. With the final payment I also agree to pay any additional fees or charges owing and the
amount of any advances you have made to others on my behalf. Payments scheduled to be paid on the 29th, 30th or 31st day of
a month that contains no such day will, instead, be made on the last day of such month.

 

Interest
only payments will be applied first to any charges I owe other than late charges, then to accrued, but unpaid interest, then to
late charges. Principal only payments will be applied first to the amount of the scheduled Principal payment, then to any late
charges.

 

Payments
of Principal and interest will be applied first to escrow that is due, then to interest that is due, then to principal that is
due, and finally to late charges that are due. If you and I agree to a different application of payments, we will describe our agreement
on this Note. You may change how payments are applied in your sole discretion without notice to me.

The
actual amount of my final payment will depend on my payment record.

 

7.   PREPAYMENT.
I may prepay this Loan in full or in part at any time. Any
partial prepayment will not excuse any later scheduled payments until I pay in full.

 

8.   LOAN
PURPOSE.
The purpose of this Loan is to purchase equipment and other business assets.

 

9.   SECURITY.
The Loan is secured by separate security instruments prepared
together with this Note as follows:

 

	Document
    Name	Parties
    to Document	 
	Security Agreement	Axion Recycled Plastics Incorporated	 
	Security Agreement	Axion International, Inc.	 

 

10.   DUE
ON SALE OR ENCUMBRANCE.
You may, at your option, declare the entire balance of this Note to be immediately due and payable upon the creation of, or contract
for the creation of, any superior lien or encumbrance on the Property, other than the Ohio Department of Development, or the transfer
or sale of all or any part of the Property. This right is subject to the restrictions imposed by federal law (12 C.F.R. 591),
as applicable.

 

11.   WAIVERS
AND CONSENT.
To the extent not prohibited by law, I waive protest, presentment for payment, demand, notice of acceleration, notice of intent
to accelerate and notice of dishonor.

 

A.    Additional
Waivers By Borrower.
In addition, I, and any party to this Note and Loan, to the extent permitted by law, consent to certain actions you may take,
and generally waive defenses that may be available based on these actions or based on the status of a party to this Note.

 

(1)  You
may renew or extend payments on this Note, regardless of the number of such renewals or extensions.

 

(2)  You
may release any Borrower, endorser, guarantor, surety, accommodation maker or any other co-signer.

 

(3)  You
may release, substitute or impair any Property securing this Note.

 

(4) 
You, or any institution participating in this
Note, may invoke your right of set-off.

 

(5)  You
may enter into any sales, repurchases or participations of this Note to any person in any amounts and I waive notice of such sales,
repurchases or participations.

 

(6)  I
agree that any of us signing this Note as a Borrower is authorized to modify the terms of this Note or any instrument securing,
guarantying or relating to this Note.

 

(7)  I
agree that you may inform any party who guarantees this Loan of any Loan accommodations, renewals, extensions, modifications, substitutions
or future advances.

 

B.    No
Waiver By Lender.
Your course of dealing, or your forbearance from, or delay in, the exercise of any of your rights, remedies, privileges or right
to insist upon my strict performance of any provisions contained in this Note, or any other Loan Document, shall not be construed
as a waiver by you, unless any such waiver is in writing and is signed by you.

 

12.   COMMISSIONS.
I understand and agree that you (or your affiliate) will earn commissions or fees on any insurance products, and may earn such
fees on other services that I buy through you or your affiliate.

 

13.   APPLICABLE
LAW. This Note is governed by the laws of Ohio, the United
States of America, and to the extent required, by the laws of the jurisdiction where the Property is located, except to the extent
such state laws are preempted by federal law. In the event of a dispute, the exclusive forum, venue and place of jurisdiction will
be in Ohio, unless otherwise required by law.

 

14.   JOINT
AND INDIVIDUAL LIABILITY AND SUCCESSORS. My obligation to pay
the Loan is independent of the obligation of any other person who has also agreed to pay it. You may sue me alone, or anyone else
who is obligated on the Loan, or any number of us together, to collect the Loan. Extending the Loan or new obligations under the
Loan, will not affect my duty under the Loan and I will still be obligated to pay the Loan. This Note shall inure to the benefit
of and be enforceable by you and your successors and assigns and shall be binding upon and enforceable against me and my personal
representatives, successors, heirs and assigns.

 

15.   AMENDMENT,
INTEGRATION AND SEVERABILITY. This Note may not be
amended or modified by oral agreement. No amendment or modification of this Note is effective unless made in writing and
executed by you and me. This Note and the other Loan Documents are the complete and final expression of the agreement. If any
provision of this Note is unenforceable, then the unenforceable provision will be severed and the remaining provisions will
still be enforceable. No present or future agreement securing any other debt I owe you will secure the payment of this Loan
if, with respect to this loan, you fail to fulfill any necessary requirements or limitations of Sections 19(a), 32 or 35 of
Regulation Z or if, as a result, this Loan would become subject to Section 670 of the John Warner
National Defense Authorization Act for Fiscal Year 2007.

 

16.   INTERPRETATION.
Whenever used, the singular includes the plural and the plural includes the singular. The section headings are for convenience
only and are not to be used to interpret or define the terms of this Note.

 

17.   NOTICE,
FINANCIAL REPORTS AND ADDITIONAL DOCUMENTS. Unless
otherwise required by law, any notice will be given by delivering it or mailing it by first class mail to the appropriate
party's address listed in the DATE AND PARTIES section, or to any other address designated in writing. Notice to one Borrower
will be deemed to be notice to all Borrowers. I will inform you in writing of any change in my name, address or other application information. I agree to sign, deliver, and file any additional documents or
certifications that you may consider necessary to perfect, continue, and preserve my obligations under this Loan and to
confirm your lien status on any Property. Time is of the essence.

 

18.   CREDIT
INFORMATION. I agree to supply you with whatever information
you reasonably request. You will make requests for this information without undue frequency, and will give me reasonable time in
which to supply the information.

 

19.   ERRORS
AND OMISSIONS. I agree, if requested by you, to fully cooperate
in the correction, if necessary, in the reasonable discretion of you of any and all loan closing documents so that all documents
accurately describe the loan between you and me. I agree to assume all costs including by way of illustration and not limitation,
actual expenses, legal fees and marketing losses for failing to reasonably comply with your requests within thirty (30) days.

 

	Axion
    Recycled Plastics Incorporated

 Ohio Promissory Note	 	Initials______
	OH/4XXCHRISO00000000000665015N	Wolters
    Kluwer Financial Services ©1996, 2013 Bankers SystemsTM	Page
    2

 

 

    	 

    	 

    

 

20.    WAIVER
OF JURY TRIAL. All of the parties to this Note knowingly
and intentionally, irrevocably and unconditionally, waive any and all right to a trial by jury in any litigation arising out of
or concerning this Note or any other Loan Document or related obligation. All of these parties acknowledge that this section has
either been brought to the attention of each party's legal counsel or that each party had the opportunity to do so.

 

CONFESSION
OF JUDGMENT. If I default, I authorize any attorney to appear in a court of record and confess judgment against me in favor of
you. The confession of judgment may be without process and for any amount due on this Note including collection costs and reasonable
attorneys' fees. This is in addition to other remedies.

 

21.   SIGNATURES.
By signing, I agree to the terms contained in this Note. I also acknowledge receipt of a copy of this Note.

 

WARNING:
BY SIGNING THIS PAPER YOU GIVE UP YOUR RIGHT TO NOTICE AND COURT TRIAL. IF YOU DO NOT PAY ON TIME A COURT JUDGMENT MAY BE TAKEN
AGAINST YOU WITHOUT YOUR PRIOR KNOWLEDGE AND THE POWERS OF A COURT CAN BE USED TO COLLECT FROM YOU REGARDLESS OF ANY CLAIMS YOU
MAY HAVE AGAINST THE CREDITOR WHETHER FOR RETURNED GOODS, FAULTY GOODS, FAILURE ON HIS PART TO COMPLY WITH THE AGREEMENT, OR ANY
OTHER CAUSE. 

 

	BORROWER:  	 	 	 
	 	 	 	 	 	 	 
	 	Axion Recycled Plastics Incorporated  	 	 	 
	 	 	 	 	 	 	 
	 	 	By	/s/ Steven L. Silverman	Date	11/15/2013	 
	 	 	Steven L. Silverman, CEO  	 	 	 
	 	 	 	 	 	 	 
	LENDER:   	 	 	 
	 	 	 	 	 	 	 
	 	The Community Bank   	 	 	 
	 	 	 	 	 	 	 
	 	 	By	/s/ Chris Olney	Date	11/15/2013	 
	 	 	Chris Olney, Chief Credit Officer  	 	 	 

   

	Axion
    Recycled Plastics Incorporated 

Ohio Promissory Note	 	Initials______
	OH/4XXCHRISO00000000000665015N	Wolters
    Kluwer Financial Services ©1996, 2013 Bankers SystemsTM	Page
    3EXHIBIT 4.2

 

	LOAN
    NUMBER	LOAN
    NAME	ACCT.
    NUMBER	NOTE
    DATE	INITIALS
	 	 	 	 	 
	2312398	Axion Recycled Plastics Incorporated	 	11/15/13	CAO
	 	 	 	 	 
	NOTE
    AMOUNT	INDEX
    (w/Margin)	RATE	MATURITY
    DATE	LOAN
    PURPOSE
	 	 	 	 	 
	$1,000,000.00	Not Applicable	
        4.250%

         

        Creditor
        Use Only
	11/15/18	Commercial

 

	PROMISSORY
    NOTE
	(Commercial - Single Advance)

 

DATE
AND PARTIES. The date of this Promissory Note (Note) is November 15, 2013. The parties and their addresses are:

 

LENDER:

THE
COMMUNITY BANK

113
N Fifth Street

Suite
101

Zanesville,
OH 43701

Telephone:
(740) 454-1600

 

BORROWER:

AXION
RECYCLED PLASTICS INCORPORATED

an
Ohio Corporation

4005
All American Way

Zanesville,
OH 43701

 

1. DEFINITIONS.
As used in this Note, the terms have the following meanings:

 

A.
Pronouns. The pronouns "I," "me," and "my" refer to each Borrower signing this Note, individually
and together with their heirs, successors and assigns, and each other person or legal entity (including guarantors, endorsers,
and sureties) who agrees to pay this Note. "You" and "Your" refer to the Lender, any participants or syndicators,
successors and assigns, or any person or company that acquires an interest in the Loan.

 

B.
Note. Note refers to this document, and any extensions, renewals, modifications and substitutions of this Note.

 

C.
Loan. Loan refers to this transaction generally, including obligations and duties arising from the terms of all documents prepared
or submitted for this transaction such as applications, security agreements, disclosures or notes, and this Note.

 

D.
Loan Documents. Loan Documents refer to all the documents executed as a part of or in connection with the Loan.

 

E.
Property. Property is any property, real, personal or intangible, that secures my performance of the obligations of this Loan.

 

F.
Percent. Rates and rate change limitations are expressed as annualized percentages.

 

G.
Dollar Amounts. All dollar amounts will be payable in lawful money of the United States of America.

 

2. PROMISE
TO PAY. For value received, I promise to pay you or your order, at your address, or at such other location as you may designate,
the principal sum of $1,000,000.00 (Principal) plus interest from November 15, 2013 on the unpaid Principal balance until
this Note matures or this obligation is accelerated.

 

3. INTEREST.
Interest will accrue on the unpaid Principal balance of this Note at the rate of 4.250 percent (Interest Rate).

 

A.
Post-Maturity Interest. After maturity or acceleration, interest will accrue on the unpaid Principalbalance of this Note
at the Interest Rate in effect from time to time, until paid in full.

 

B.
Maximum Interest Amount. Any amount assessed or collected as interest under the terms of this Note will be limited to the maximum
lawful amount of interest allowed by state or federal law, whichever is greater. Amounts collected in excess of the maximum lawful
amount will be applied first to the unpaid Principal balance. Any remainder will be refunded to me.

 

C.
Statutory Authority. The amount assessed or collected on this Note is authorized by the Ohio usurylaws under
OhioRev. Code Ann. chs. 1343 and 1109.

 

D.
Accrual. Interest accrues using an Actual/360 days counting method.

 

4. REMEDIAL
CHARGES. In addition to interest or other finance charges, I agree that I will pay these additional fees based on my method
and pattern of payment. Additional remedial charges may be described elsewhere in this Note.

 

A.
Late Charge. If a payment is more than 10 days late, I will be charged 5.000 percent of the Amount of Payment.
I will pay this late charge promptly but only once for each late payment.

 

5. GOVERNING
AGREEMENT. This Note is further governed by the Commercial Loan Agreement executed between you and me as a part of this Loan,
as modified, amended or supplemented. The Commercial Loan Agreement states the terms and conditions of this Note, including the
terms and conditions under which the maturity of this Note may be accelerated. When I sign this Note, I represent to you that I
have reviewed and am in compliance with the terms contained in the Commercial Loan Agreement.

 

6. PAYMENT.
I will make 59 payment(s) of Interest beginning December 15, 2013 and on the 15th day of each month thereafter. I will make 1 payment(s)
of Principal in the amount of $25,000.00 on November 15, 2014. I will make 1 payment(s) of Principal in the amount of $25,000.00
on November 15, 2015. I will make 1 payment(s) of Principal in the amount of $50,000.00 on November 15, 2016. I will make 1 payment(s)
of Principal in the amount of $50,000.00 on November
15, 2017. I will make 1 payment(s) of Principal in the amount of $850,000.00 plus any unpaid accrued interest on November 14, 2018.
Further subject, however, to the Extension Provision in Paragraph 4 of the Commercial Loan Agreement.

 

	Axion
                                                                                                                            Recycled
                                                                                                                            Plastics
                                                                                                                            Incorporated

                                                                                                                            Ohio
                                                                                                                            Promissory
                                                                                                                            Note

	 	Initials
                
	OH/4XXCHRISO00000000000665015N

	Wolters Kluwer Financial
Services ©1996, 2013 Bankers SystemsTM

	Page 1

 

 

    	 

    	 

    

  

Payments
will be rounded to the nearest $.01. With the final payment I also agree to pay any additional fees or charges owing and the amount
of any advances you have made to others on my behalf. Payments scheduled to be paid on the 29th, 30th or 31st day of a month that
contains no such day will, instead, be made on the last day of such month.

 

Interest
only payments will be applied first to any charges I owe other than late charges, then to accrued, but unpaid interest, then to
late charges. Principal only payments will be applied first to the amount of the scheduled Principal payment, then to any late
charges.

 

Payments
of Principal and interest will be applied first to escrow that is due, then to interest that is due, then to principal that is
due, and finally to late charges that are due. If you and I agree to a different application of payments, we will describe our
agreement on this Note. You may change how payments are applied in your sole discretion without notice to me. The actual amount
of my final payment will depend on my payment record.

 

7. PREPAYMENT.
I may prepay this Loan in full or in part at any time. Any partial prepayment will not excuse any later scheduled payments until
I pay in full.

 

8. LOAN
PURPOSE. The purpose of this Loan is to purchase equipment and other business assets.

 

9. SECURITY.
The Loan is secured by separate security instruments prepared together with this Note as follows:

 

	 	Document Name	Parties to Document
	 	 	 
	 	Security Agreement	Axion Recycled Plastics Incorporated
	 	 	 
	 	Security Agreement	Axion International, Inc.

 

10. DUE
ON SALE OR ENCUMBRANCE. You may, at your option, declare the entire balance of this Note to be immediately due and payable
upon the creation of, or contract for the creation of, any superior lien or encumbrance on the Property, other than the Ohio Department
of Development, or transfer or sale of all or any part of the Property. This right is subject to the restrictions imposed by federal
law (12 C.F.R. 591), as applicable.

 

11. WAIVERS
AND CONSENT. To the extent not prohibited by law, I waive protest, presentment for payment, demand, notice of acceleration,
notice of intent to accelerate and notice of dishonor.

 

A.
Additional Waivers By Borrower. Inaddition, I, and any party to this Note and Loan, to the extent permitted by law, consent
to certain actions you may take, and generally waive defenses thatmay be available based on these actions or based on the status
of a party to this Note.

 

(1)
You may renew or extend payments on this Note, regardless of the number of such renewals or extensions.

 

(2)
You may release any Borrower, endorser, guarantor, surety, accommodation maker or any other co-signer.

 

(3)
You may release, substitute or impair any Property securing this Note.

 

(4)
You, or any institution participating in this Note, may invoke your right of set-off.

 

(5)
You may enter into any sales, repurchases or participations of this Note to any person in any amounts and I waive notice of
such sales, repurchases or participations.

 

(6)
I agree that any of us signing this Note as a Borrower is authorized to modify the terms of this Note or any instrument securing,
guarantying or relating to this Note.

 

(7)
I agree that you may inform any party who guarantees this Loan of any Loan accommodations, renewals, extensions, modifications,
substitutions or future advances.

 

B.
No Waiver By Lender. Your course of dealing, or your forbearance from, or delay in, the exercise of any of your rights, remedies,
privileges or right to insist upon my strict performance of any provisions contained in this Note, or any other Loan Document,
shall not be construed as a waiver by you, unless any such waiver is in writing and is signed by you.

 

12. COMMISSIONS.
I understand and agree that you (or your affiliate) will earn commissions or fees on any insurance products, and may earn such
fees on other services that I buy through you or your affiliate.

 

13. APPLICABLE
LAW. This Note is governed by the laws of Ohio, the United States of America, and to the extent required, by the laws of the
jurisdiction where the Property is located, except to the extent such state laws are preempted by federal law. In the event of
a dispute, the exclusive forum, venue and place of jurisdiction will be in Ohio, unless otherwise required by law.

 

14. JOINT
AND INDIVIDUAL LIABILITY AND SUCCESSORS. My obligation to pay the Loan is independent of the obligation of any other person
who has also agreed to pay it. You may sue me alone, or anyone else who is obligated on the Loan, or any number of us together,
to collect the Loan. Extending the Loan or new obligations under the Loan, will not affect my duty under the Loan and I will still
be obligated to pay the Loan. This Note shall inure to the benefit of and be enforceable by you and your successors and assigns
and shall be binding upon and enforceable against me and my personal representatives, successors, heirs and assigns.

 

15. AMENDMENT,
INTEGRATION AND SEVERABILITY. This Note may not be amended or modified by oral agreement. No amendment or modification of this
Note is effective unless made in writing and executed by you and me. This Note and the other Loan Documents are the complete and
final expression of the agreement. If any provision of this Note is unenforceable, then the unenforceable provision will be severed
and the remaining provisions will still be enforceable. No present or future agreement securing any other debt I owe you will secure
the payment of this Loan if, with respect to this loan, you fail to fulfill any necessary requirements or limitations of Sections
19(a), 32 or 35 of Regulation Z or if, as a result, this Loan would become subject to Section 670 of the John Warner National Defense
Authorization Act for Fiscal Year 2007.

 

16. INTERPRETATION.
Whenever used, the singular includes the plural and the plural includes the singular. The section headings are for convenience
only and are not to be used to interpret or define the terms of this Note.

 

17. NOTICE,
FINANCIAL REPORTS AND ADDITIONAL DOCUMENTS. Unless otherwise required by law, any notice will be given by delivering it or
mailing it by first class mail to the appropriate party's address listed in the DATE AND PARTIES section, or to any other address
designated in writing. Notice to one Borrower will be deemed to be notice to all Borrowers. I will inform you in writing of any
change in my name, address or other application information. I agree to sign, deliver, and file any additional documents or certifications
that you may consider necessary to perfect, continue, and preserve my obligations under this Loan and to confirm your lien status
on any Property. Time is of the essence.

 

	Axion
                                                                                                                            Recycled
                                                                                                                            Plastics
                                                                                                                            Incorporated

                                                                                                                            Ohio
                                                                                                                            Promissory
                                                                                                                            Note

	 	Initials
                
	OH/4XXCHRISO00000000000665015N

	Wolters Kluwer Financial
                                                    Services ©1996, 2013 Bankers SystemsTM

	Page 2

 

 

    	 

    	 

    

 

18. CREDIT
INFORMATION. I agree to supply you with whatever information you reasonably request. You will make requests for this information
without undue frequency, and will give me reasonable time in which to supply the information.

 

19. ERRORS
AND OMISSIONS. I agree, if requested by you, to fully cooperate in the correction, if necessary, in the reasonable discretion
of you of any and all loan closing documents so that all documents accurately describe the loan between you and me. I agree to
assume all costs including by way of illustration and not limitation, actual expenses, legal fees and marketing losses for failing
to reasonably comply with your requests within thirty (30) days.

 

20.
WAIVER OF JURY TRIAL. All of the parties to this Note knowingly and intentionally, irrevocably and unconditionally, waive any
and all right to a trial by jury in any litigation arising out of or concerning this Note or any other Loan Document or related
obligation. All of these parties acknowledge that this section has either been brought to the attention of each party's legal
counsel or that each party had the opportunity to do so.

 

	CONFESSION OF JUDGMENT. If I default, I authorize any attorney to appear in a court of record and confess judgment against me in favor of you. The confession of judgment may be without process and for any amount due on this Note including collection costs and reasonable attorneys' fees. This is in addition to other remedies.

 

21. SIGNATURES.
By signing, I agree to the terms contained in this Note. I also acknowledge receipt of a copy of this Note.

 

WARNING:
BY SIGNING THIS PAPER YOU GIVE UP YOUR RIGHT TO NOTICE AND COURT TRIAL. IF YOU DO NOT PAY ON TIME A COURT JUDGMENT MAY BE TAKEN
AGAINST YOU WITHOUT YOUR PRIOR KNOWLEDGE AND THE POWERS OF A COURT CAN BE USED TO COLLECT FROM YOU REGARDLESS OF ANY CLAIMS YOU
MAY HAVE AGAINST THE CREDITOR WHETHER FOR RETURNED GOODS, FAULTY GOODS, FAILURE ON HIS PART TO COMPLY WITH THE AGREEMENT, OR ANY
OTHER CAUSE.

 

BORROWER:

 

Axion Recycled Plastics Incorporated

 

	By	/s/ Steven L. Silverman	 	 Date	11/15/2013
	Steven L. Silverman, CEO	 	 	 

 

LENDER:

 

The Community Bank

 

	By 	/s/ Chris Olney	 	Date	11/15/2013
	Chris Olney, Chief Credit Officer	 	 	 

  

	Axion
                                                                                                                            Recycled
                                                                                                                            Plastics
                                                                                                                            Incorporated

                                                                                                                            Ohio
                                                                                                                            Promissory
                                                                                                                            Note

	 	Initials
                
	OH/4XXCHRISO00000000000665015N

	Wolters Kluwer Financial
                                                    Services ©1996, 2013 Bankers SystemsTM

	Page 3

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00224-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00224-of-00352.parquet"}]]