Document:

Exhibit 10.13

 

Promissory
Note

 

Basic
Information

 

Effective
Date: November 30, 2016

 

Borrower:
Southland Holdings, LLC, a Texas limited liability company

 

Borrower’s
Mailing Address: 1100 Kubota Drive, Grapevine, Texas 76051

 

Lender:
Rudy V. Renda

 

Place
for Payment: 1100 Kubota Drive, Grapevine, Texas 76051

 

Principal
Amount: $2,762,140

 

Annual
Interest Rate: 1.29%

 

Maturity
Date: December 31, 2025

 

Annual
Interest Rate on Matured, Unpaid Amounts: 10.00%

 

	Terms of
Payment (principal and interest):	 	The
Principal Amount is due and payable on the Maturity Date, and the interest is due and payable annually as it accrues. Payments
will be applied first to accrued interest and the remainder to reduction of the Principal Amount.

 

	Security for Payment: 	 	This
note is secured by a security interest created in a Security Agreement executed of even date herewith by Borrower, as the debtor,
and Lender, as the secured party. Such Security Agreement covers certain shares of common stock in and to Oscar Renda Contracting,
Inc., a Texas corporation, which interests were purchased by Borrower from Lender pursuant to that certain Stock Purchase Agreement
by and between Borrower, as the Purchaser, and Lender, as the Seller.

 

Promise
to Pay

 

Borrower
promises to pay to the order of Lender the Principal Amount plus interest at the Annual Interest Rate. This note is payable at
the Place for Payment and according to the Terms of Payment. All unpaid amounts are due by the Maturity Date. If any amount is
not paid either when due under the Terms of Payment or on acceleration of maturity, Borrower promises to pay any unpaid amount
plus interest from the date the payment was due to the date of payment at the Annual Interest Rate on Matured, Unpaid Amounts.

 

     

     

    

 

Defaults
and Remedies

 

If
Borrower defaults in the payment of this note or in the performance of any obligation in any instrument securing or collateral
to this note, Lender may declare the unpaid principal balance, earned interest, and any other amounts owed on the note immediately
due.

 

Waivers

 

Borrower
and each surety, endorser, and guarantor waive, to the extent permitted by law, all (1) demand for payment, (2) presentation for
payment, (3) notice of intention to accelerate maturity, (4) notice of acceleration of maturity, and (5) protest.

 

Attorney’s
Fees

 

Borrower
also promises to pay reasonable attorney’s fees and court and other costs if this note is placed in the hands of an attorney
to collect or enforce the note. These expenses will bear interest from the date of advance at the Annual Interest Rate on Matured,
Unpaid Amounts. Borrower will pay Lender these expenses and interest on demand at the Place for Payment. These expenses and interest
will become part of the debt evidenced by the note and will be secured by any security for payment.

 

Usury
Savings

 

Interest
on the debt evidenced by this note will not exceed the maximum rate or amount of nonusurious interest that may be contracted for,
taken, reserved, charged, or received under law. Any interest in excess of that maximum amount will be credited on the Principal
Amount or, if the Principal Amount has been paid, refunded. On any acceleration or required or permitted prepayment, any excess
interest will be canceled automatically as of the acceleration or prepayment or, if the excess interest has already been paid,
credited on the Principal Amount or, if the Principal Amount has been paid, refunded. This provision overrides any conflicting
provisions in this note and all other instruments concerning the debt.

 

    Page 2

     

    

 

Other
Clauses

 

Borrower
may prepay this note in any amount at any time before the Maturity Date without penalty or premium.

 

Each
Borrower is responsible for all obligations represented by this note.

 

When
the context requires, singular nouns and pronouns include the plural.

 

	 	SOUTHLAND HOLDINGS, LLC
	 	 
	 	By:	/s/ Teressa Fields
	 	Name: 	Teressa Fields
	 	Title: 	Controller

 

    Page 3Exhibit 10.14

 

Promissory
Note

 

Basic
Information

 

Effective
Date: November 30, 2016

 

Borrower:
Southland Holdings, LLC, a Texas limited liability company

 

Borrower’s
Mailing Address: 1100 Kubota Drive, Grapevine, Texas 76051

 

Lender:
Frankie S. Renda

 

Place
for Payment: 1839 Broken Bend Drive, Westlake, Texas 76262

 

Principal
Amount: $3,198,341

 

Annual
Interest Rate: 1.29%

 

Maturity
Date: December 31, 2025

 

Annual
Interest Rate on Matured, Unpaid Amounts: 10.00%

 

	Terms of
Payment (principal and interest):	 	The
Principal Amount is due and payable on the Maturity Date, and the interest is due and payable annually as it accrues. Payments
will be applied first to accrued interest and the remainder to reduction of the Principal Amount.

 

	Security for Payment: 	 	This
note is secured by a security interest created in a Security Agreement executed of even date herewith by Borrower, as the debtor,
and Lender, as the secured party. Such Security Agreement covers certain shares of common stock in and to Oscar Renda Contracting,
Inc., a Texas corporation, which interests were purchased by Borrower from Lender pursuant to that certain Stock Purchase Agreement
by and between Borrower, as the Purchaser, and Lender, as the Seller.

 

Promise
to Pay

 

Borrower
promises to pay to the order of Lender the Principal Amount plus interest at the Annual Interest Rate. This note is payable at
the Place for Payment and according to the Terms of Payment. All unpaid amounts are due by the Maturity Date. If any amount is
not paid either when due under the Terms of Payment or on acceleration of maturity, Borrower promises to pay any unpaid amount
plus interest from the date the payment was due to the date of payment at the Annual Interest Rate on Matured, Unpaid Amounts.

 

     

     

    

 

Defaults
and Remedies

 

If
Borrower defaults in the payment of this note or in the performance of any obligation in any instrument securing or collateral
to this note, Lender may declare the unpaid principal balance, earned interest, and any other amounts owed on the note immediately
due.

 

Waivers

 

Borrower
and each surety, endorser, and guarantor waive, to the extent permitted by law, all (1) demand for payment, (2) presentation for
payment, (3) notice of intention to accelerate maturity, (4) notice of acceleration of maturity, and (5) protest.

 

Attorney’s
Fees

 

Borrower
also promises to pay reasonable attorney’s fees and court and other costs if this note is placed in the hands of an attorney
to collect or enforce the note. These expenses will bear interest from the date of advance at the Annual Interest Rate on Matured,
Unpaid Amounts. Borrower will pay Lender these expenses and interest on demand at the Place for Payment. These expenses and interest
will become part of the debt evidenced by the note and will be secured by any security for payment.

 

Usury
Savings

 

Interest
on the debt evidenced by this note will not exceed the maximum rate or amount of nonusurious interest that may be contracted for,
taken, reserved, charged, or received under law. Any interest in excess of that maximum amount will be credited on the Principal
Amount or, if the Principal Amount has been paid, refunded. On any acceleration or required or permitted prepayment, any excess
interest will be canceled automatically as of the acceleration or prepayment or, if the excess interest has already been paid,
credited on the Principal Amount or, if the Principal Amount has been paid, refunded. This provision overrides any conflicting
provisions in this note and all other instruments concerning the debt.

 

    Page 2

     

    

 

Other
Clauses

 

Borrower
may prepay this note in any amount at any time before the Maturity Date without penalty or premium.

 

Each
Borrower is responsible for all obligations represented by this note.

 

When
the context requires, singular nouns and pronouns include the plural.

 

	 	SOUTHLAND HOLDINGS, LLC
	 	 
	 	By:	/s/ Teressa Fields
	 	Name: 	Teressa Fields
	 	Title: 	Controller

 

    Page 3Exhibit 10.15

 

PROMISSORY
NOTE

 

		$1,196,686	November
30, 2018

 

FOR
VALUE RECEIVED, pursuant to the terms of this Promissory Note (this “Note”), SOUTHLAND HOLDINGS LLC, a Texas
limited liability company (“Borrower”), promises to pay to the order of RUDOLPH V. RENDA (“Lender”),
at 608 Henrietta Creek Road, Roanoke, Texas 76262, or at such other place as may be designated by Lender, without setoff, the principal
amount of $1,196,686 in lawful money of the United States, with interest thereon from the date hereof until paid at the rate below set
forth.

 

All
unpaid interest that has accrued on the outstanding principal amount of this Note shall be due and payable annually beginning on the
31st day of December, 2018, and continuing on each subsequent December 31 occurring thereafter. Any and all remaining unpaid principal
of and interest on this Note shall be due and payable in full on November 30, 2023 (the “Maturity Date”). This
Note is unsecured.

 

The
outstanding principal balance hereof shall bear interest at a rate per annum equal to the long-term applicable federal rate with a monthly
compounding period, as published by the Internal Revenue Service from time to time for purposes of Section 1274(d) of the Internal Revenue
Code or, if greater, the minimum rate of interest necessary under applicable law to avoid the existence of a taxable benefit to Borrower
in respect of the amount of interest payable under this Note, as reasonably determined by Lender. Interest shall be computed on the basis
of 365 or 366 days, as the case may be, and the actual number of days elapsed (including the first day but excluding the last day). In
no event shall this Note bear interest at a rate in excess of the highest rate permitted by applicable law.

 

This
Note may be prepaid in whole or in part at any time and from time to time without premium or penalty. Lender in its sole discretion shall
determine how and in what proportions to apply amounts repaid against principal and/or accrued interest hereunder. Lender is hereby authorized
to record on a schedule or to otherwise record in accordance with his usual practice the date and amount of each principal payment and
interest payment hereunder.

 

If
Borrower fails to make any payment hereunder when due, the unpaid balance of this Note shall, at the option of Lender and without notice
or demand, mature and become immediately payable. In addition, the unpaid balance of this Note shall automatically mature and become
immediately payable in the event Borrower becomes the subject of bankruptcy or other insolvency proceedings. Lender’s receipt of
any payment after the occurrence of a default shall not constitute a waiver of such default or of any of Lender’s rights and remedies.
No delay on the part of Lender in the exercise of any right or remedy shall operate as a waiver thereof, and no single or partial exercise
by Lender of any right or remedy shall preclude any other or further exercise thereof or the exercise of any other right or remedy.

 

Borrower
waives presentment, notice of dishonor and protest and agrees to pay, on demand, ail of Lender’s costs of collection, before and
after judgment, including reasonable attorneys’ fees and legal expenses.

 

This
Note is governed by the internal laws of the State of Texas, excluding conflict of law principles providing for the application of the
laws of another jurisdiction.

 

[SIGNATURE
PAGE FOLLOWS]

 

     

     

    

 

IN
WITNESS WHEREOF, Borrower and Lender have executed this Note as of the date first above written.

 

	LENDER:	 	BORROWER:
	 	 	 	 
	 	 	SOUTHLAND HOLDINGS LLC
	 	 	 	 
	/s/ Rudolph V. Renda	 	By:	/s/ Frank S. Renda
	Rudolph V. Renda	 	 	Frank S. Renda, President

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