Document:

PROMISSORY
NOTE

 

	Borrower:	 	Lender:
	IMAC
    Regeneration Center 	 	Tommy
    West
	2725
    James Sanders Blvd.	 	4235
    Byars Rd.
	Paducah,
    KY 42001	 	Hazel,
    KY 42049
	 	 	 
	Principal:
    Up to $101,096.00	 	Rate:
    5.00%
	Loan
    Date: 3/8/2017	 	Maturity:
    12/31/2021

 

PROMISE
TO PAY. IMAC Regeneration Center (“Borrower”) promises to pay to Tommy West (“Lender”), or order, in lawful
money of the United States of America, the principal amount of One Hundred Thousand Ninety Six & 00/100 Dollars ($101,096.00)
or so much as may be outstanding, together with interest on the unpaid outstanding principal balance, calculated as described
in the INTEREST CALCULATION METHOD paragraph using an interest rate of 5.0% per annum, until paid in full.

 

PAYMENT.
Borrower will pay this loan in 5 payments of $23,349.94. borrowers first payment is due December 31, 2017, and all subsequent
payments are due on the same day of each year after that. Borrowers final payment will be due on December 31, 2021, and will be
for all principal and all accrued interest not yet paid. Payments include principal and interest. Unless otherwise agreed or required
by applicable law, payments will be applied to any accrued unpaid interest first; then to escrow if applicable; then to principal;
then to any late charges; and then to any unpaid collection costs. Borrower will pay lender at Lender’s address shown above
or at such other place as lender may designate in writing.

 

INTEREST
CALCULATION METHOD. Interest on this Note is computed on a 365/365 simple interest basis; that is, by applying the ratio of interest
rate over the number of days in a year, multiplied by the outstanding principal balance, multiplied by the actual number of days
the principal balance is outstanding. All interest payable under this Note is computed using this method.

 

PREPAYMENT.
Borrower agrees that all loan fees and other prepaid finance charges are earned fully as of the date of the loan and will not
be subject to refund upon early payment (whether voluntary or as a result of default), except as otherwise required by law. Except
for the foregoing, Borrower may pay without penalty all or a portion of the amount owed earlier than it is due. Early payments
will not, unless agreed to by Lender in writing, relieve Borrower of Borrower’s obligation to continue to make payments
under the payment schedule. Rather, early payments will reduce the principal balance due and may result in Borrower’s making
fewer payments. Borrower agrees not to send Lender payments market “paid In full”, “without recourse”,
or similar language. If Borrower sends such a payment, lender may accept it without losing any of Lender’s rights under
this Note, and Borrower will remain obligated to pay any further amount owed to Lender. All written communications concerning
disputed amounts, including any check or other payment Instrument that indicates that the payment constitutes “payment in
full” of the amount owed or that is tendered with other conditions or limitations or as full satisfaction of a disputed
amount must be mailed or delivered to lender address of record.

 

LATE
CHARGE. If a payment is 10 days or more late, Borrower will be charged 5.00% of the regularly scheduled payment.

 

INTEREST
AFTER DEFAULT. Upon default, including failure to pay upon final maturity, the interest rate on this Note shall be increased to
8.00% per annum. However, in no event will the interest rate exceed the maximum interest rate limitations under applicable law.

 

DEFAULT.
Each of the following shall constitute an event of default (“Event of Default”) under this Note:

 

Payment
Default. Borrower fails to make any payment when due under this Note.

 

    	 	 	 

    	 	 	 

    

 

Other
Defaults. Borrower falls to comply with or to perform any other term, obligation, covenant or condition contained in this Note
or in any of the related documents or to comply with or to perform any term, obligation, covenant or condition contained in any
other agreement between Lender and Borrower.

 

False
Statements. Any warranty, representation or statement made or furnished to Lender by Borrower or on Borrower’s behalf under
this Note or the related documents is false or misleading in any material respect, either now or at the time made or furnished
or becomes false or misleading at any time thereafter.

 

Death
or Insolvency. The dissolution of Borrower (regardless of whether election to continue is made) any member withdraws from Borrower,
or any other termination of Borrower’s existence as a going business or the death of any member, the insolvency of Borrower,
the appointment of a receiver for any part of Borrower’s property, any assignment for the benefit of creditors, any type
of creditor workout, of the commencement of any proceeding under any bankruptcy or insolvency laws by or against Borrower.

 

Creditor
or Forfeiture Proceedings. Commencement of foreclosure or forfeiture proceedings, whether by judicial proceeding, self-help, repossession
or any other method, by any creditor or Borrower or by any governmental agency against any collateral securing the loan. This
includes a garnishment of any of Borrower’s accounts, including deposit accounts, with Lender. However, this Event of Default
shall not apply if there is a good faith dispute by Borrower as to the validity or reasonableness of the claim which is the basis
of the creditor or forfeiture proceeding and if Borrower gives Lender written notice of the creditor or forfeiture proceeding
and deposits with Lender monies or a surety bond for the creditor or forfeiture proceeding, in an amount determined by the Lender,
in its sole discretion, as being an adequate reserve or bond for the dispute.

 

Events
Affecting Guarantor. Any of the preceding events occurs with respect to any Guarantor of any of the indebtedness or any Guarantor
dies or becomes incompetent, or revokes or disputes the validity of, or liability under, any guaranty of the indebtedness evidenced
by this Note.

 

Adverse
Change. A material adverse change occurs in Borrower’s financial condition, or Lender believes the prospect of payment or
performance of this Note is impaired.

 

Insecurity.
Lender in good faith believes itself insecure.

 

LENDER’S
RIGHTS. Upon default, Lender may declare the entire unpaid principal balance under this Note and all accrued unpaid interest immediately
due, and then Borrower will pay that amount.

 

COLLATERAL.
Borrower acknowledges this Note is unsecured.

 

ATTORNEY’S
FEES; EXPENSES. Lender may hire or pay someone else to help collect this Note if Borrower does not pay. Borrower will pay lender
that amount. This includes, subject to any limits under applicable law. Lender’s reasonable attorneys’ fees and lender’s
legal expenses whether or not there is a lawsuit, including reasonable attorneys’ fees and legal expenses for bankruptcy
proceedings (including efforts to modify or vacate any automatic stay or injunction), and appeals. If not prohibited by applicable
law, Borrower also will pay any court costs, in addition to all other sums provided by law.

 

JURY
WAIVER. Lender and Borrower herby waive the right to any jury trial in any action, proceeding, or counterclaim brought by either
Lender or Borrower against the other.

 

GOVERNING
LAW. This Note will be governed by federal law applicable to Lender and, to the extent not preempted by federal law, the laws
of the Commonwealth of Kentucky without regard to its conflicts of law provisions. This Note has been accepted by Lender in the
Commonwealth of Kentucky.

 

LINE
OF CREDIT. This Note evidences a straight line of credit. Once the total amount of principal has been advanced, Borrower is not
entitled to further loan advances. Borrower agrees to be liable for all sums either: (A) advanced in accordance with the instructions
of an authorized person or (B) credited to any of Borrower’s accounts with Lender. The unpaid principal balance owing on
this Note at any time may be evidenced by endorsements on this Note or by lender’s internal records, including daily computer
print-outs.

 

    	 	2	 

    	 	 	 

    

 

SUCCESSOR
INTERESTS. The terms of this Note shall be binding upon Borrower, and upon Borrower’s heirs, representatives, successors
and assigns, and shall inure to the benefit of Lender and its successors and assigns.

 

GENERAL
PROVISIONS. If any part of this Note cannot be enforced, this fact will not affect the rest of the Note. Lender may delay or forgo
enforcing any of its rights or remedies under this Note without losing them. Borrower and any other person who signs, guarantees
or endorses this Note, to the extent allowed by law, waive presentment, demand for payment, and notice of dishonor. Upon any change
in the terms of this Note, and unless otherwise expressly stated in writing, no party who signs this Note, whether as maker, guarantor,
accommodation maker or endorser, shall be released from liability. All such parties agree that Lender may renew or extend (repeatedly
and for any length of time) this loan or release any party or guarantor or collateral; or impair, fail to realize upon or perfect
Lender’s security interest in the collateral; and take any other action deemed necessary by Lender without the consent of
or notice to anyone. All such parties also agree that Lender may modify this loan without the consent of or notice to anyone other
than the party with whom the modification is made. The obligations under this Note are joint and several.

 

PRIOR
TO SIGNING THIS NOTE, BORROWER READ AND UNDERSTOOD ALL THE PROVISIONS OF THIS NOTE. BORROWER AGREES TO THE TERMS OF THE NOTE.

 

	BORROWER:	 	LENDER:
	IMAC Regeneration Center	 	Tommy West
	 	 	 	 	 
	By:	/s/ Matt Wallis	 	By:	/s/ Tommy West
	 	Matt Wallis	 	 	Tommy West

 

    	 	3PROMISSORY
NOTE

 

	Principal

    $133,555.39	Loan
    Date

    09-17-2014	Maturity

    09-17-2019	Loan
    No

    35943	Call
    / Coll

    4 / 26	Account	Officer

    SHA	Initials
	 	 	 	 	 	 	 	 
	References
    in the boxes above are for Lender’s use only and do not limit the applicability of this document to any particular loan
    or item. Any item above containing “***” has been omitted due to text length limitations.

 

	Borrower:	LONE
    OAK CHIROPRACTIC, P.S.C.	Lender:	INDEPENDENC
    BANK OF KENTUCKY
	 	125
    AUGUSTA AVE., SUITE D	 	Paducah-Jefferson
Sq- Consumer – NMLS #405645
	 	PADUCAH,
    KY 42003	 	PO
    BOX 1776
	 	 	 	3143
    BROADWAY STREET
	 	 	 	PADUCAH,
    KY 42001
	 	 	 	(270)
    442-1716
	 	 	 	 

 

	Principal
    Amount: $133,555.39	Interest
    Rate: 4.250%	Date
    of Note: September 17, 2014

 

PROMISE
TO PAY. LONE OAK CHIROPRACTIC, P.S.C. (‘“Borrower”) promises to pay to INDEPENDENCE BANK OF KENTUCKY (“Lender”),
or order, in lawful money of the United States of America, the principal amount of One Hundred Thirty-three Thousand Five Hundred
Fifty-five & 39/100 Dollars ($133,555.39), together with interest on the unpaid principal balance from September 17, 2014,
calculated as described in the “INTEREST CALCULATION METHOD” paragraph using an interest rate of 4.250% per annum,
until paid in full. The interest rate may change under the terms and conditions of the “INTEREST AFTER DEFAULT” section.

 

PAYMENT.
Borrower will pay this loan in 59 payments of $2.474.79, each payment and an irregular last payment estimated at $2,474.81. Borrower’s
first payment is due October 17,2014, and an subsequent payments are due on the same day of each month after that Borrower’s
final payment will be due on September 17, 2019, and will be for all principal and all accrued interest not yet paid. Payments
include principal and interest. Unless otherwise agreed or required by applicable law, payments will be applied first to any late
charges; then to any accrued unpaid Interest; then to principal; and then to any unpaid collection costs. Borrower will pay Lender
at Lender’s address shown above or at such other place as Lender may designate in writing.

 

INTEREST
CALCULATION METHOD. Interest on this Note is computed on a 365/365 simple interest basis; that is, by applying the ratio of interest
rate over the number of days in a year, multiplied by the outstanding principal balance, multiplied by the actual number of days
the principal balance is outstanding. All interest payable under the Note is computed using this method.

 

PREPAYMENT.
Borrower agrees that all loan fees and other prepaid finance charges are earned fully as of the date of the loan and will not
be subject to refund upon early payment (whether voluntary or as a result of default), except as otherwise required by law. Except
for the foregoing, Borrower may pay without penalty all or a portion of the amount owed earlier than it is due. Early payments
will not, unless agreed to by Lender in writing, relieve Borrower of Borrower’s obligation to continue to make payments
under the payment schedule. Rather, early payments will reduce the principal balance due end may result in Borrower’s making
fewer payments. Borrower agrees not to send Lender payments marked “paid in full”, “without recourse”,
or similar language. If Borrower sends such a payment, Lender may accept it without losing any of Lender’s rights under
this Note, and Borrower will remain obligated to pay any further amount owed to Lender. All written communications concerning
disputed amounts, including any check or other payment instrument that indicates that the payment constitutes “payment in
full” of the amount owed or that is tendered with other condition or limitations or as full satisfaction of a disputed amount
must be mailed or delivered to: INDEPENDENCE BANK OF KENTUCKY, Paducah-Jefferson Sq - Consumer - NMLS #405645, PO BOX 1776, 3143
BROADWAY STREET, PADUCAH, KY 42001.

 

LATE
CHARGE. If a payment is 10 days or more late, Borrower will be charged 5.000% of the regularly scheduled payment or $25.00, whichever
is greater.

 

INTEREST
AFTER DEFAULT. Upon default including failure to pay upon final maturity, the interest rate on this Note shall be increased to
18.000% per annum. However, in no event will the interest rate exceed the maximum interest rate limitations under applicable law.

 

    	 

    	Loan No: 32943

    

 

DEFAULT.
Each of the following shall constitute an event of default (“Event of Default”) under this Note:

 

Payment
Default. Borrower fails to make any payment when due under this Note.

 

Other
Defaults. Borrower fails to comply with or to perform any other term, obligation, covenant or condition contained in this Note
or in any of the related documents or to comply with or to perform any term, obligation, covenant or condition contained in any
other agreement between Lender and Borrower.

 

Default
in Favor of Third Parties . Borrower or any Grantor defaults under any loan, extension of credit, security agreement, purchase
or sales, agreement, or any other agreement, in favor of any other creditor or person that may materially affect any of Borrower’s
property or Borrower’s ability to repay this Note or perform Borrower’s obligations under this Note or any of the
related documents.

 

False
Statements. Any warranty, representation or statement made or furnished to lender by Borrower or on Borrower’s behalf under
this Note or the related documents is false or misleading in any material respect, either now or all the time made or furnished
or becomes false or misleading at any time thereafter.

 

Insolvency.
The dissolution or termination of Borrower’s existence as a going business, the insolvency of Borrower, the appointment
of a receiver or any part of Borrower’s property, any assignment for the benefit of creditors, any type of creditor workout,
or the commencement of any proceeding under any bankruptcy or insolvency laws by or against Borrower.

 

Creditor
or Forfeiture Proceedings. Commencement of foreclosure or forfeiture proceedings, whether by judicial proceeding, self-help, repossession
or any other method, by any creditor of Borrower or by any governmental agency against any collateral securing the loan. This
includes a garnishment of any of Borrower’s accounts, including deposit accounts, with Lender. However, this Event of Default
shall not apply if there is no good faith dispute by Borrower as to the validity or reasonableness of the claim which is the basis
of the creditor or forfeiture proceeding and if Borrower gives Lender written notice of the creditor or forfeiture proceeding
and deposits with Lender monies or a surety bond for the creditor or forfeiture proceeding, in an amount determined by Lender,
in its sole discretion, as being an adequate reserve or bond for the dispute.

 

Events
Affecting Guarantor. Any of the preceding events occurs with respect to any Guarantor of any of the indebtedness or any Guarantor
dies or becomes incompetent, or revokes or disputes the validity of, or liability under, any guaranty of the indebtedness evidenced
by this Note.

 

Change
In Ownership. Any change to ownership or twenty-five percent (25%) or more of the common stock of Borrower.

 

Adverse
Change. A material adverse change occurs in Borrower’s financial condition, or Lender believes the prospect of payment or
performance of this Note is impaired.

 

Insecurity.
Lender in good faith believes itself insecure.

 

LENDER’S
RIGHTS. Upon default, lender may declare the entire unpaid principal balance under this Note and all accrued unpaid interest immediately
due, and then Borrower will pay that amount.

 

ATTORNEYS’
FEES; EXPENSES. Lender may hire or pay someone else to help collect this Note if Borrower does not pay. Borrower will pay Lender
that amount. This includes, subject to any limits under applicable law, Lender’s reasonable attorneys’ fees and Lender’s
legal expenses whether or not there is a lawsuit, including reasonable attorneys’ fees and legal expenses for bankruptcy
proceedings (including efforts to modify or vacate any automatic stay or inunction), and appeals. If not prohibited by applicable
law. Borrower also will pay any court costs, in addition to all other sums provided by law

 

    	2

    	Loan No: 32943

    

 

JURY
WAIVER. Lender and Borrower hereby waive the right to any jury trial in any action, proceeding, or counterclaim brought by either
Lender or Borrower against the other.

 

GOVERNING
LAW. This Note will be governed by federal law applicable to Lender and to the extent not preempted by federal law, the laws of
the Commonwealth of Kentucky without regard to its conflicts of law provisions. This Note has been accepted by Lender in the Commonwealth
of Kentucky.

 

DISHONORED
ITEM FEE. Borrower will pay a fee to Lender of $35.00 if Borrower makes payment on Borrower’s loan and the check or preauthorized
charge with which Borrower pays is later dishonored.

 

RIGHT
OF SETOFF. To the extent permitted by applicable law, lender reserves a right of setoff in all Borrower’s accounts with
lender (whether checking, savings, or some other account). This includes 411 accounts Borrower holds jointly with someone else
and all accounts Borrower may open in the future. However, this does not include any IRA or Keogh accounts, or any trust accounts
for which setoff would be prohibited by law. Borrower authorizes Lender, to the extent permitted by applicable law, to charge
or setoff all sums owing on the indebtedness against any and all such accounts.

 

COLLATERAL.
Borrower acknowledges this Note is secured by the following collateral described in the security instrument listed herein: described
in a Commercial Security Agreement dated September 17, 2014.

 

SUCCESSOR
INTERESTS. The terms of this Note shall be binding upon Borrower, and upon Borrower’s heirs, personal representatives, successors
and assigns, and shall inure to the benefit of the Lender and its successors as assigns.

 

GENERAL
PROVISIONS. If any part of this Note cannot be enforced, this fact will not affect the rest of the Note. Lender may delay or forgo
enforcing any of its rights or remedies under this Note without losing them. Borrower and any other person who signs, guarantees
or endorses this Note, to the extent allowed by law, waive presentment, demand for payment, and notice of dishonor. Upon any change
in the terms of this Note, and unless otherwise expressly stated in writing, no party who signs this Note, whether as maker, guarantor,
accommodation maker or endorser, shall be released from liability. All such parties agree that Lender may renew or extend (repeatedly
and for any length of time) this loan or release any party or guarantor or collateral; or impair, fail to realize upon perfect
Lender’s security interest in the collateral; and take any other action deemed necessary by Lender without consent of or
notice to anyone. All such parties also agree that Lender may modify this loan without the consent of or notice to anyone other
than the party with whom the modification is made. The obligations under this Note are joint and several.

 

PRIOR
TO SIGNING THIS NOTE. BORROWER READ AND UNDERSTOOD ALL THE PROVISIONS OF THIS NOTE. BORROWER AGREES TO THE TERMS OF THE NOTE.

 

BORROWER
ACKNOWLEDGES RECEIPT OF A COMPLETED COPY OF THIS PROMISSORY NOTE.

 

BORROWER:

 

	LONE
    OAK CHIROPRACTIC, P.S.C.	 	 
	 	 	 
	By: 	/s/
                                         Matthew Collier Wallis
	 	By: 	/s/
                                         Jason William Brame

	 	Matthew
    Collier Wallis, Director of Lone Oak Chiropractic, P.S.C.	 	 	Jason
    William Brame, Director of Lone Oak Chiropractic, P.S.C.

 

LENDER:

 

	INDEPENDENCE
    BANK OF KENTUCKY	 
	 	 
	By:	/s/
                                         Shelly H. Aspery     
	 
	 	Shelly
    H. Aspery, Location Manager NMLS #777365	 

 

    	3

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