Document:

Promissory Note and Security Agreement - Lowrie Management LLLP

 Exhibit 10.82 
 PROMISSORY NOTE AND SECURITY AGREEMENT 
  

			
	 $ 5,734,254.87
	  	Lakewood, Colorado
		  	November 1, 2007

 FOR VALUE RECEIVED, the undersigned, VCG HOLDING CORP., a Colorado corporation
(“VCG”) a Colorado corporation, hereby promises to pay to the order of LOWRIE MANAGEMENT LLLP, a Colorado Limited Liability Limited Partnership (“Lowrie”), at 390 Union Blvd, Suite 540, Lakewood, Colorado 80228, or at such
other place as Lowrie or any subsequent holder hereof (the “Holder”) may, from time to time, designate in writing, the principal sum of FIVE MILLION SEVEN HUNDRED THIRTY FOUR THOUSAND TWO HUNDRED AND FIFTY FOUR AND 87/100 DOLLARS
($5,734,254.87). 
 1. Principal and Interest. Interest shall accrue on the unpaid principal from the date hereof at a simple annual
rate of eight and one half percent (8.5%) (the “Interest Rate”). Principal and interest payments of $112,840.92 will be made monthly starting on December 1, 2007 and continue for approximately 63 monthly payments.

 All payments under this Note shall be made only in lawful money of the United States of America, at the address above or such place as the
Holder hereof may designate in writing from time to time. 
 3. Collateral. In consideration of the Loan, upon execution of this
Agreement, Borrower will grant to Holder, (a) a security interest in the general assets of VCG Holding Corp, (b) a security interest in the General and limited partnership holdings of Illinois Restaurant Concepts LP, and Denver Restaurant
Concepts LP (c) Consent to the transfer of the adult permit and liquor license to Holder and/or its assigns upon default. 
 4.
Enforcement of Collateral. In remedies which Holder has hereunder or by law, upon Default, Holder shall have the right to enforce its rights in the Collateral by giving notice of the Default to Borrower and foreclosing on the Collateral.

 5. Prepayment. This Note may be prepaid in part (or in full) at any time prior to the Maturity Date (except as expressly provided
herein), and from time to time, without premium or penalty, and without the prior consent of the Holder hereof, on the conditions that Borrower shall concurrently pay all accrued but unpaid interest on the amount of principal outstanding due at the
time of each prepayment. 
 6. Default and Acceleration. Upon the occurrence of a default by the Borrower in any payment of interest
or principal due hereunder, at the option of the Holder hereof, (i) the entire outstanding principal balance and all accrued but unpaid interest shall become immediately due and payable upon written notice to Borrower and (ii) the Holder
may pursue all other rights and remedies available under this Note, any instrument securing payment of this Note, or by law. 
  

 Page 1 of 3 
     /s/ MO     
 (Borrower) 

 7. Default Rate of Interest. Upon the occurrence of a Default, Borrower promises to pay interest
on the outstanding principal balance of this Note at a simple rate of interest equal to fifteen percent (15%) per annum (“Default Rate”). 
 8. Cumulative Remedies. All remedies of Holder provided for herein are cumulative and shall be in addition to all other rights and remedies provided by law. The exercise of any right or remedy by Holder
hereunder shall not in any way constitute a cure or waiver of default hereunder or invalidate any act done pursuant to any notice of default, or prejudice Holder in the exercise of any of its rights hereunder unless, in the exercise of its rights,
Lowrie realizes all amounts owed to it under the Loan. 
 9. Early Discharge. Upon full payment of the outstanding principal balance
and all accrued but unpaid interest, this Note shall be fully discharged, cancelled and surrendered to Borrower. 
 10. Forbearance.
Any forbearance of the Holder in exercising any right or remedy hereunder, or otherwise afforded by applicable law, shall not be a waiver of or preclude the exercise of any right or remedy. The acceptance by the Holder of payment of any sum payable
hereunder after the due date of such payment shall not be a waiver of the Holder’s right to require prompt payment when due of all other sums payable hereunder. 
 11. Application of Payments. All payments made on this Note shall be applied first to payment of accrued but unpaid interest and the remainder of all such payments shall be applied to the reduction of the
outstanding principal balance on this Note. 
 12. Usury. In the event the interest provisions hereof, any exactions provided for
herein or any instrument securing this Note, shall result, in an effective rate of interest which, exceeds the limit of the usury or any other applicable law, all sums in excess of those lawfully collectible as interest for the period in question
shall, without further agreement or notice between or by any party hereto, be applied upon the outstanding principal balance of this Note immediately upon receipt of such moneys by the Holder, and any such amount in excess of such outstanding
principal balance shall be immediately returned to Borrower. 
 13. Jurisdiction. This Note is to be governed according to the laws of
the State of Colorado, without giving effect to conflict of law principles. 
 14. Binding Effect. This Note shall be binding upon
Borrower, and its successors and assigns and shall inure to the benefit of the Holder and its successors and assigns. 
 15. Notice.
Any notice required or permitted to be given hereunder shall be in writing and will be deemed received (a) on the date of receipted delivery by a courier service or (b) on the fifth business day after mailing, by registered or certified
United States mail, postage prepaid, to the appropriate party at its address set forth below: 
  

 Page 2 of 3 
     /s/ MO     
 (Borrower) 

 If to VCG: 
 VCG Holding Corp. 
 C/O Michael Ocello Pres. 
 390 Union Blvd, Suite 540 
 Lakewood, Colorado
80228 
 If to LOWRIE: 
 Lowrie
Management LLLP. 
 C/O Troy H. Lowrie 
 390 Union Blvd., Suite 540 
 Lakewood, Colorado 80228 
  
 16. Attorneys’ Fees. Borrower further promises to pay all reasonable
attorneys’ fees incurred by the Holder in connection with any Default hereunder and in any proceeding brought to enforce any of the provisions of this Note. 
 IN WITNESS WHEREOF, Borrower has duly executed this Promissory Note effective as of the day and year first above written. 
  

					
	BORROWER:	 		 	LENDER:
			
	/s/ Micheal Ocello	 		 	/s/ Troy Lowrie
	 Michael Ocello President
 Date: November 1, 2007

	 		 	 Troy H. Lowrie, President of GP
 Lowrie Management,
LLLP
 Date: November 1, 2007

  

 Page 3 of 3 
     /s/ MO     
 (Borrower)Promissory Note and Security Agreement - Vali Lowrie-Reed

 Exhibit 10.83 
 PROMISSORY NOTE AND SECURITY AGREEMENT 
  

			
	U.S. $390,000.00	 	Lakewood, Colorado
	Due Date: Ninety Days from Execution Date	 	Date Executed: July 17, 2008

 1. FOR VALUE RECEIVED, the undersigned Borrower, VCG Holding Corp., promises to pay Vali
Lowrie-Reed or order, (Note Holder) the principal sum of Three Hundred Ninety Thousand ($390,000.00) U.S. Dollars, at an annual interest rate of 10.00%, including an initial fee of 2%, which equals the sum of Eight Thousand ($8,000.00) U.S. Dollars.
This Note shall be due and payable at the date set forth above. Interest shall be due and payable monthly at 418 Royal Meadows Court, Santa Rosa, CA 95404, or at such other address as is provided in writing by Note Holder. 
 2. Payments received for application to this Note shall 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 owed. 
 3. If any payment required
by this Note is not paid when due, or if any default under this Note occurs, the entire principal amount outstanding and accrued interest thereon shall at once become due and payable at the option of the Note Holder (Acceleration); and the
indebtedness shall bear interest at the rate of fifteen percent (15%) per annum from the date of default. The Note Holder shall be entitled to collect all reasonable costs and expense of collection and/or suit, including, but not limited to
reasonable attorneys’ fees. 
 4. Borrower may prepay the principal amount outstanding under this Note, in whole or in part, at any time
without penalty. Any partial prepayment shall be applied against the principal amount outstanding and shall not postpone the due date of any subsequent payments or change the amount of such payments. 
 5. Borrower and all other makers, sureties, guarantors, and endorsers hereby waive presentment, notice of dishonor and protest, and they hereby agree to
any extensions of time of payment and partial payments before, at, or after maturity. This Note shall be the joint and several obligation of Borrower and all other makers, sureties, guarantors and endorsers, and their successors and assigns.

 6. The failure of Note Holder to strictly enforce any provision of this Note shall not be deemed a waiver of Note Holder’s rights to
strictly enforce that or any other term of this Note at any other time. 
 7. Any notice to Borrower provided for in this Note shall be in
writing and shall be given and be effective upon (1) delivery to Borrower or (2) mailing such notice by first-class U.S. mail, addressed to Borrower at the Borrower’s address stated below, or to such other address as Borrower may
designate by notice to the Note Holder. Any notice to the Note Holder shall be in writing and shall be given and be effective upon (1) delivery to Note Holder or (2) by mailing such notice by first-class U.S. mail, to the Note Holder at
the address stated in the first paragraph of this Note, or to such other address as Note Holder may designate by notice to Borrower. 

 8. Collateral. In consideration of the Loan, upon execution of this Agreement, Borrower will grant to
Holder, (a) a security interest in the general assets of Denver Restaurant Concepts LP located in Denver, Colorado, (b) a security interest in the general assets of IRC L.P. located in Sauget, Illinois, (c) consent to the transfer of
the adult permit, liquor license and any other permits in the name of Denver Restaurant Concepts LP and IRC L.P. to Holder and/or its assigns upon default of note. 
 9. This Note shall be construed pursuant to the laws of the State of Colorado. Venue for any lawsuit brought regarding this Note shall be a court of competent jurisdiction in Jefferson County, Colorado. 
  

			
	BORROWER
	
	VCG Holding Corp.
		
	By:	 	/s/ Troy Lowrie
		
	Its:	 	CEO

 Borrower’s address: 
 390 Union Blvd., Suite 540 
 Lakewood, CO 80228

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00146-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00146-of-00352.parquet"}]]