Document:

kurrantmob10q53109x108_71409.htm

     

    
      Exhibit
10.8

      

       

      PROMISSORY
NOTE

       

      
        	
                $2,952.08

              	
                Durango,
      Colorado

              
	 
      	
                July
      8, 2009

              

      

      FOR VALUE
RECEIVED, and at the times hereinafter specified, the undersigned (“Maker”)
hereby promises to pay to the order of TAYLOR MAY
(hereinafter referred to, together with each subsequent holder hereof, as
“Holder”), at such address as may be designated from time to time hereafter by
any Holder, the principal sum of TWO THOUSAND NINE HUNDRED FIFTY TWO AND
EIGHT/100THS DOLLARS ($2,952.08), or so much thereof as shall have been advanced
to or for the benefit of Maker, together with interest on the principal balance
outstanding from time to time, as hereinafter provided, in lawful money of the
United States of America.

       

      The term
of this note shall commence as of the date hereof and, if not sooner paid, the
entire unpaid principal indebtedness, all accrued and unpaid interest, and all
other sums payable in connection with this note shall be due and payable on July
8, 2010 (the “Maturity Date”).  Notwithstanding the foregoing
sentence, the maturity date of this note may be extended at the option of Maker
for a period of one year following the Maturity Date provided Holder receives a
renewal fee equal to 1.5% of the then outstanding principal balance
due.  In no event shall the maturity date of this note be later
than  July 8,  2010.

       

      During
the period commencing on the date hereof and continuing until this note is paid
in full, (a) interest on the principal balance of this note shall accrue at the
rate of 15% per annum and (b) interest payments shall be made every 90 days,
beginning 90 days for the date hereof.  Interest shall be computed on
the basis of a 360-day year, calculated for the actual number of days
elapsed.

       

      Whenever
any payment to be made hereunder is due on a day other than a Business Day, such
payment may be made on the next succeeding Business Day, and such extension of
time shall in such case be included in the computation of payment of
interest.  “Business Day” shall mean a day on which Holder’s offices
are open for business in Denver, Colorado.

       

      Maker may
prepay this note in whole or in part.

       

      All
payments hereunder shall, at Holder’s option, be applied first to the payment of
accrued interest at the rate specified below, if any, second, to accrued
interest first specified above, and the balance applied in reduction of the
principal amount.  If any payment is not paid when due hereunder, then
the entire outstanding balance hereunder, including the interest component of
the delinquent payment, shall bear interest from the date such payment was due
until such payment is paid at a rate equal to 24.00% per annum (the “Default
Rate”).  In addition, upon the maturity date hereof, by acceleration
or otherwise, the entire balance of principal,

       

      
        
           

        

        
           

          
            

          

        

        
           

        

      

      interest,
and other sums due shall bear interest from such maturity date until paid at the
Default Rate.

       

      Any
default in payment of any sum required hereunder or performance of any other
covenant or agreement herein contained shall constitute an “Event of Default”
hereunder and under each document securing this note, and any Event of Default
under any of such documents securing this Note shall constitute an Event of
Default hereunder.  Any default in payment or other terms of any other
indebtedness owed by Maker to Holder shall constitute an Event of Default
hereunder, and any default hereunder shall constitute a default under any other
such indebtedness.  Upon the occurrence of any Event of Default, the
entire balance of principal, accrued interest, and other sums owing hereunder
shall, at the option of Holder, become at once due and payable without notice or
demand.

       

      Maker and
all parties now or hereafter liable for the payment hereof, primarily or
secondarily, directly or indirectly, and whether as endorser, guarantor, surety,
or otherwise, hereby severally (a) waive presentment, demand, protest, notice of
protest and/or dishonor, and all other demands or notices of any sort whatever
with respect to this note, (b) waive any defenses that might be available to a
surety or accommodation maker, (c) consent to impairment or release of
collateral, extensions of time for payment, and acceptance of partial payments
before, at, or after maturity, (d) waive any right to require Holder to proceed
against any security for this note before proceeding hereunder, (e) consent to
the release of any other party liable hereunder, without diminishing or in any
way affecting their liability hereunder, and (f) agree to pay all costs and
expenses, including attorneys’ fees and expenses, which may be incurred in the
collection of this note or any part thereof or in preserving, securing
possession of, and realizing upon any security for this note.

       

      The
provisions of this note and of all agreements between Maker and Holder are
hereby expressly limited so that in no contingency or event whatever shall the
amount paid, or agreed to be paid, to Holder for the use, forbearance, or
detention of the money to be loaned hereunder exceed the maximum amount
permissible under applicable law.  If from any circumstance whatever,
the performance or fulfillment of any provision hereof or of any other agreement
between Maker and Holder shall, at the time performance or fulfillment of such
provision is due, involve or purport to require any payment in excess of the
limits prescribed by law, then the obligation to be performed or fulfilled is
hereby reduced to the limit of such validity, and if from any circumstance
whatever Holder should ever receive as interest an amount which would exceed the
highest lawful rate, the amount which would be excessive interest shall be
applied to the reduction of the principal balance owing hereunder (or, at
Holder’s option, be paid over to Maker) and shall not be counted as
interest.

       

      If any
provision hereof or of any other document securing or related to the
indebtedness evidenced hereby is, for any reason and to any extent, invalid or
unenforceable, then neither the remainder of the document in which such
provision is contained, nor the application of the provision to other persons,
entities, or circumstances, nor any other document referred to herein, shall be
affected thereby, but instead shall be enforceable to the maximum extent
permitted by law.

       

      
        
           

        

        
           

          
            

          

        

        
           

        

      

      Each
provision of this note shall be and remain in full force and effect
notwithstanding any negotiation or transfer hereof to any other Holder or
participant.

       

      MAKER
HEREBY WAIVES THE RIGHT TO A TRIAL BY JURY IN ANY DISPUTE ARISING IN CONNECTION
WITH THIS NOTE, OR IN ANY WAY RELATED TO THE NEGOTIATION, ADMINISTRATION,
MODIFICATION, EXTENSION OR COLLECTION OF THE INDEBTEDNESS EVIDENCED
HEREBY.  MAKER STATES THAT IT HAS CONFERRED SPECIFICALLY WITH HOLDER
WITH RESPECT TO THIS WAIVER, AND MAKER HAS AGREED TO THIS WAIVER AFTER
CONSULTATION WITH ITS COUNSEL AND WITH FULL UNDERSTANDING OF THE IMPLICATIONS
HEREOF.

       

      Regardless
of the place of its execution, this note shall be construed and enforced in
accordance with the laws of the State of Colorado.

      

       

      
        	 
      	
                KURRANT MOBILE CATERING, INC.  

                 

                 

              
	
                By:

              	
                /s/
      Christopher Bell

              
	 
      	
                Its:  Presidentkurrantmob10q53109x109_71409.htm

     

    Exhibit
10.9

     

    

     

    

    PROMISSORY
NOTE

     

    
      	
              $2,952.08

            	
              Durango,
      Colorado

            
	 
      	
              July
      8, 2009

            

    

     

     

    FOR VALUE
RECEIVED, and at the times hereinafter specified, the undersigned (“Maker”)
hereby promises to pay to the order of MICHAEL HOPKINS (hereinafter referred to,
together with each subsequent holder hereof, as “Holder”), at such address as
may be designated from time to time hereafter by any Holder, the principal sum
of TWO THOUSAND NINE HUNDRED FIFTY TWO AND EIGHT/100THS DOLLARS ($2,952.08), or
so much thereof as shall have been advanced to or for the benefit of Maker,
together with interest on the principal balance outstanding from time to time,
as hereinafter provided, in lawful money of the United States of
America.

     

    The term
of this note shall commence as of the date hereof and, if not sooner paid, the
entire unpaid principal indebtedness, all accrued and unpaid interest, and all
other sums payable in connection with this note shall be due and payable on July
8, 2010 (the “Maturity Date”).  Notwithstanding the foregoing
sentence, the maturity date of this note may be extended at the option of Maker
for a period of one year following the Maturity Date provided Holder receives a
renewal fee equal to 1.5% of the then outstanding principal balance
due.  In no event shall the maturity date of this note be later
than  July 8,  2010.

     

    During
the period commencing on the date hereof and continuing until this note is paid
in full, (a) interest on the principal balance of this note shall accrue at the
rate of 15% per annum and (b) interest payments shall be made every 90 days,
beginning 90 days for the date hereof.  Interest shall be computed on
the basis of a 360-day year, calculated for the actual number of days
elapsed.

     

    Whenever
any payment to be made hereunder is due on a day other than a Business Day, such
payment may be made on the next succeeding Business Day, and such extension of
time shall in such case be included in the computation of payment of
interest.  “Business Day” shall mean a day on which Holder’s offices
are open for business in Denver, Colorado.

     

    Maker may
prepay this note in whole or in part.

     

    All
payments hereunder shall, at Holder’s option, be applied first to the payment of
accrued interest at the rate specified below, if any, second, to accrued
interest first specified above, and the balance applied in reduction of the
principal amount.  If any payment is not paid when due hereunder, then
the entire outstanding balance hereunder, including the interest

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    component
of the delinquent payment, shall bear interest from the date such payment was
due until such payment is paid at a rate equal to 24.00% per annum (the “Default
Rate”).  In addition, upon the maturity date hereof, by acceleration
or otherwise, the entire balance of principal, interest, and other sums due
shall bear interest from such maturity date until paid at the Default
Rate.

     

    Any
default in payment of any sum required hereunder or performance of any other
covenant or agreement herein contained shall constitute an “Event of Default”
hereunder and under each document securing this note, and any Event of Default
under any of such documents securing this Note shall constitute an Event of
Default hereunder.  Any default in payment or other terms of any other
indebtedness owed by Maker to Holder shall constitute an Event of Default
hereunder, and any default hereunder shall constitute a default under any other
such indebtedness.  Upon the occurrence of any Event of Default, the
entire balance of principal, accrued interest, and other sums owing hereunder
shall, at the option of Holder, become at once due and payable without notice or
demand.

     

    Maker and
all parties now or hereafter liable for the payment hereof, primarily or
secondarily, directly or indirectly, and whether as endorser, guarantor, surety,
or otherwise, hereby severally (a) waive presentment, demand, protest, notice of
protest and/or dishonor, and all other demands or notices of any sort whatever
with respect to this note, (b) waive any defenses that might be available to a
surety or accommodation maker, (c) consent to impairment or release of
collateral, extensions of time for payment, and acceptance of partial payments
before, at, or after maturity, (d) waive any right to require Holder to proceed
against any security for this note before proceeding hereunder, (e) consent to
the release of any other party liable hereunder, without diminishing or in any
way affecting their liability hereunder, and (f) agree to pay all costs and
expenses, including attorneys’ fees and expenses, which may be incurred in the
collection of this note or any part thereof or in preserving, securing
possession of, and realizing upon any security for this note.

     

    The
provisions of this note and of all agreements between Maker and Holder are
hereby expressly limited so that in no contingency or event whatever shall the
amount paid, or agreed to be paid, to Holder for the use, forbearance, or
detention of the money to be loaned hereunder exceed the maximum amount
permissible under applicable law.  If from any circumstance whatever,
the performance or fulfillment of any provision hereof or of any other agreement
between Maker and Holder shall, at the time performance or fulfillment of such
provision is due, involve or purport to require any payment in excess of the
limits prescribed by law, then the obligation to be performed or fulfilled is
hereby reduced to the limit of such validity, and if from any circumstance
whatever Holder should ever receive as interest an amount which would exceed the
highest lawful rate, the amount which would be excessive interest shall be
applied to the reduction of the principal balance owing hereunder (or, at
Holder’s option, be paid over to Maker) and shall not be counted as
interest.

     

    If any
provision hereof or of any other document securing or related to the
indebtedness evidenced hereby is, for any reason and to any extent, invalid or
unenforceable, then neither the remainder of the document in which such
provision is contained, nor the application of the provision to other persons,
entities, or circumstances, nor any other document referred to
herein,

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    shall be
affected thereby, but instead shall be enforceable to the maximum extent
permitted by law.

     

    Each
provision of this note shall be and remain in full force and effect
notwithstanding any negotiation or transfer hereof to any other Holder or
participant.

     

    MAKER
HEREBY WAIVES THE RIGHT TO A TRIAL BY JURY IN ANY DISPUTE ARISING IN CONNECTION
WITH THIS NOTE, OR IN ANY WAY RELATED TO THE NEGOTIATION, ADMINISTRATION,
MODIFICATION, EXTENSION OR COLLECTION OF THE INDEBTEDNESS EVIDENCED
HEREBY.  MAKER STATES THAT IT HAS CONFERRED SPECIFICALLY WITH HOLDER
WITH RESPECT TO THIS WAIVER, AND MAKER HAS AGREED TO THIS WAIVER AFTER
CONSULTATION WITH ITS COUNSEL AND WITH FULL UNDERSTANDING OF THE IMPLICATIONS
HEREOF.

     

    Regardless
of the place of its execution, this note shall be construed and enforced in
accordance with the laws of the State of Colorado.

     

    

     

    KURRANT MOBILE CATERING,
INC.

     

    

     

    
      	 
      	 
      
	
              By:

            	
              /s/
      Christopher Bell

            
	 
      	
              Its:  President

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