Document:

Exhibit 10.1

 

DEMAND PROMISSORY NOTE

 

	
  $12,500.00(U.S. Dollars)

  	
   

  	
  January 25, 2006

  

 

FOR VALUE RECEIVED, ProUroCare
Inc. (the “Debtor”) promises to pay to the order of Alexander Nazarenko, or his
successors and assigns (the “Holder”), the principal sum of $12,500.00,
together with interest on all outstanding and unpaid amounts evidenced by this
Note at the rate of the US Prime Rate plus1.0% per year computed on the basis
of the actual number of days elapse in the payment period and a 365-day
year.  This Note is not secured.

 

1.                                       Payment
of Principal and Interest.  All
outstanding principal and interest under this Note will be due and payable ON
DEMAND.

 

2.                                       Demand
for Payment.  Upon request by the
Holder for payment hereunder, the then outstanding principal balance of this
Note and all accrued interest accrued thereon shall, at the option of the
Holder and without presentment, demand, protest, or further notice of any kind,
become immediately due and payable in full. 
All payments with respect to this Note will be applied to the reduction
of the principal or to the accrued interest as directed by the Debtor.

 

3.                                       Prepayments.
The indebtedness evidenced by this Note may be prepaid, in whole or in part, at
any time without penalty or premium.

 

4.                                       No
Waivers.  The Debtor agrees that no
failure on the part of the Holder to exercise any power, right or privilege
hereunder, or to insist upon prompt compliance with the terms of this Note,
will constitute a waiver of that power, right or privilege.

 

5.                                       Replacement
Note.  Upon receipt of evidence
reasonably satisfactory to the Debtor, of the loss, theft, destruction or
mutilation of this Note, the Debtor will make and deliver a new Note of like
tenor in lieu of this note.

 

6.                                       Governing
law.  This Note is governed in all
respects by the internal laws of the State of Minnesota without regard to the
conflicts of law principles of any jurisdiction.

 

7.                                       Collection
Costs.  In the event the Debtor fails
to timely pay any amount due under this Note, the Debtor will pay all of the
Holder’s reasonable out-of-pocket collection costs, including without
limitation, reasonable attorney’s fees and legal costs, whether or not any suit
or enforcement proceeding is commenced.

 

IN WITNESS
WHEREOF, the Debtor has caused this Note to be signed by a duly authorized
officer and dated as of the date first above written.

 

	
   

  	
  By:

  	
    /s/ Maurice R. Taylor II

  	
   

  
	
   

  	
  Maurice R. Taylor, Chief Executive Officer

  
	
   

  	
  ProUroCare, Inc.Exhibit 10.2

 

DEMAND PROMISSORY NOTE

 

	
  $12,500.00(U.S. Dollars)

  	
   

  	
  January 25, 2006

  

 

FOR VALUE RECEIVED, ProUroCare
Inc. (the “Debtor”) promises to pay to the order of David F. Koenig, or his
successors and assigns (the “Holder”), the principal sum of $12,500.00,
together with interest on all outstanding and unpaid amounts evidenced by this
Note at the rate of the US Prime Rate plus1.0% per year computed on the basis
of the actual number of days elapse in the payment period and a 365-day
year.  This Note is not secured.

 

1.                                       Payment
of Principal and Interest.  All
outstanding principal and interest under this Note will be due and payable ON
DEMAND.

 

2.                                       Demand
for Payment.  Upon request by the
Holder for payment hereunder, the then outstanding principal balance of this
Note and all accrued interest accrued thereon shall, at the option of the
Holder and without presentment, demand, protest, or further notice of any kind,
become immediately due and payable in full. 
All payments with respect to this Note will be applied to the reduction
of the principal or to the accrued interest as directed by the Debtor.

 

3.                                       Prepayments.
The indebtedness evidenced by this Note may be prepaid, in whole or in part, at
any time without penalty or premium.

 

4.                                       No
Waivers.  The Debtor agrees that no
failure on the part of the Holder to exercise any power, right or privilege
hereunder, or to insist upon prompt compliance with the terms of this Note,
will constitute a waiver of that power, right or privilege.

 

5.                                       Replacement
Note.  Upon receipt of evidence
reasonably satisfactory to the Debtor, of the loss, theft, destruction or
mutilation of this Note, the Debtor will make and deliver a new Note of like
tenor in lieu of this note.

 

6.                                       Governing
law.  This Note is governed in all
respects by the internal laws of the State of Minnesota without regard to the
conflicts of law principles of any jurisdiction.

 

7.                                       Collection
Costs.  In the event the Debtor fails
to timely pay any amount due under this Note, the Debtor will pay all of the
Holder’s reasonable out-of-pocket collection costs, including without
limitation, reasonable attorney’s fees and legal costs, whether or not any suit
or enforcement proceeding is commenced.

 

IN WITNESS
WHEREOF, the Debtor has caused this Note to be signed by a duly authorized
officer and dated as of the date first above written.

 

	
   

  	
  By:

  	
    /s/ Maurice R. Taylor II

  	
   

  
	
   

  	
  Maurice R. Taylor, Chief Executive Officer

  
	
   

  	
  ProUroCare, Inc.Exhibit 10.3

 

LOAN AGREEMENT

 

THIS AGREEMENT, dated January 25, 2006 
is made and entered into by and among Adron Holdings, LLC (“Adron”), a
Minnesota limited liability company having its principal offices at 715 Florida
Avenue S., Suite 411, Golden Valley MN 55426, ProUroCare, Inc. (“ProUroCare”),
a Minnesota corporation having its principal offices at One Carlson Parkway,
Suite 214, Plymouth MN 55446, Maury Taylor II (“Taylor”), a Minnesota resident,
and David Koenig (“Koenig”), a Minnesota resident..

 

WHEREAS, Ron Musich (“Musich”) and Adrian Johnson (“Johnson”) are
Governors of Adron and jointly hold total ownership of Adron through entities
which they own or control; and

 

WHEREAS, Musich and Johnson are each personal guarantors of a $300,000
loan which ProUroCare has with Venture Bank (“Bank Loan”); and

 

WHEREAS, ProUroCare is delinquent in the payment of interest owed to
Venture Bank on the Bank Loan; and

 

WHEREAS, ProUroCare desires to enter into an Agreement with Adron
whereby ProUroCare can secure additional funds to, in part, assist ProUroCare
in meeting its continued

obligations owed on the Bank Loan, and

 

WHEREAS, Taylor and Koenig each desire to personally guarantee a
portion of the obligations of ProUroCare under this Agreement;

 

THE PARTIES AGREE AS FOLLOWS:

 

1. Adron agrees to loan to ProUroCare an amount of Twenty Three
Thousand Dollars and No Cents ($23,000.00), receipt of which is acknowledged by
ProUroCare. ProUroCare agrees to repayment of this amount pursuant to the
Promissory Note which is attached as Exhibit A.

 

2. As consideration for the Promissory Note in addition to the amounts
to be paid pursuant to the terms of the attached Promissory Note, ProUroCare
agrees to issue to Adron a 50,000 warrant to acquire 50,000 shares of
ProUroCare common stock, each exercisable at $.50 per warrant, with an
expiration date of five years from the date of issuance.

 

3. ProUroCare agrees that, in the event ProUroCare defaults under the
terms of the Promissory Note, including the failure to pay any of the amounts
due and payable under such Note, ProUroCare will issue to Adron an additional
warrant to acquire 50,000 shares of ProUroCare common stock, each exercisable
at $.50 per share, with an expiration date of five years from the date of
issuance. This right to receive warrants shall be in addition to any remedies
available to Adron to enforce the terms of the Note and/or personal guaranties
of Taylor and/or Koenig, and to enforce any other rights Adron may have against
any of the parties, including any relating to the Bank Loan.

 

 

5. Taylor and Koenig each agrees to personally guarantee one half of
the obligations of ProUroCare under the Promissory Note, as evidenced by the
Personal Guaranties attached as Exhibit B.

 

6. This Agreement shall be governed by the laws of the State of
Minnesota and any litigation commenced to enforce the terms of this Agreement
and/or those of either the Promissory Note or the Revolving Credit Note shall
be brought in Hennepin County, Minnesota.

 

7. This Agreement may not be assigned by ProUroCare without the written
consent of Adron.

 

 

	
  ProUroCare, Inc.

  
	
   

  
	
  By

  	
    /s/Richard b.
  Thon

  	
   

  
	
  Its

  	
  CFO

  	
   

  
	
   

  
	
   /s/ Maury Taylor II

  	
   

  
	
  Maury Taylor II

  
	
   

  
	
   /s/ David F. Koenig

  	
   

  
	
  David Koenig

  
	
   

  
	
  Adron Holdings, LLC

  
	
   

  
	
  By

  	
   /s/ Adrian Johnson

  	
   

  
	
    Its Chief
  ManagerExhibit 10.4

 

PROMISSORY
NOTE

 

	
  $23,000

  	
   

  	
  Minneapolis, Minnesota

  
	
   

  	
   

  	
  January 25, 2006

  

 

FOR VALUE RECEIVED, ProUroCare, Inc., a
Minnesota corporation, (“Borrower”) hereby promises to pay to the order of
Adron Holdings, LLC, Minnesota limited liability partnership, or its assignee (“Lender”)
in Minneapolis, Minnesota, in lawful money of the United States of America in
immediately available funds the principal amount of TWENTY THREE THOUSAND
DOLLARS AND NO CENTS ($23,000.00). Payment of this amount owed by Borrower is
to be made no later than March 14, 2006.

 

In addition, Borrower shall pay Lender an
administrative fee of Four Thousand Dollars and No Cents ($4,000.00) no later
than March 14, 2006; however, in the event the principal amount is fully paid
to Lender before March 14, 2006, the amount of the administrative fee to be
paid will be reduced pro rata based upon a calculation of the fee which would
be charged on a daily basis during the term of the Note and reducing the fee by
the daily rate determined for each day before March 14, 2006 after payment of
the full principal owed.

 

This Note is prepayable in whole or in part
at any time prior to maturity at the option of the undersigned without penalty
or premium. Amounts prepaid shall be first applied to accrued and prepaid
interest and then to principal.

 

In the event of default hereunder, including failure by Borrower to pay
by March 14, 2006 any amount due and owing, Borrower agrees to pay all costs
and expenses of collection, including reasonable attorneys’ fees. Borrower
waives demand, presentment, notice of presentment, protest, notice of protest,
and notice of dishonor.

 

THE VALIDITY, CONSTRUCTION AND ENFORCEABILITY OF THIS NOTE SHALL BE
GOVERNED BY THE LAWS OF THE STATE OF MINNESOTA WITHOUT GIVING EFFECT TO THE
CONFLICT OF LAWS PRINCIPLES THEREOF.

 

	
  ProUroCare, Inc.

  
	
   

  
	
  By

  	
  Richard B. Thon

  	
   

  
	
   

  	
  Its

  	
  CFO

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