Document:

hemp_ex1028.htm

EXHIBIT 10.28
  
 THE SECURITIES REPRESENTED HEREBY HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE "ACT"), OR UNDER THE SECURITIES LAWS OF ANY STATE. THESE SECURITIES ARE SUBJECT TO RESTRICTIONS ON TRANSFERABILITY AND RESALE AND MAY NOT BE TRANSFERRED OR RESOLD EXCEPT AS PERMITTED UNDER THE ACT AND THE APPLICABLE STATE SECURITIES LAWS, PURSUANT TO REGISTRATION AND QUALIFICATION OR EXEMPTION THEREFROM.
  
 HEMPACCO CO, INC.
  
 12% ONE YEAR NOTE
  
 	 $25,000
	 as of April 13, 2021

  
 FOR VALUE RECEIVED, the undersigned, HEMPACCO CO, INC., a Nevada Corporation (the “Company”), promises to pay to the undersigned Lender, its heirs or assigns (the “Lender”), on the first anniversary of the date of this Note (the “Maturity Date”), the principal sum of Twenty Five Thousand US Dollars ($25,000), plus any and all outstanding or accrued interest. Interest on the original principal sum shall accrue and be payable at the rate of twelve percent (12%) per annum.
  
 Any interest not paid when due will be added to the principal and will thereafter bear interest at the rate per annum applicable to the principal hereof. The original principal sum, all accrued and unpaid interest, and any other amounts then outstanding shall be subject to mandatory conversion whereby the outstanding principal and interest of the Notes will automatically convert, with no additional action required from the holders, into shares of Common Stock, at $1.00 per share, subject to adjustment and additional terms as included in the Note. 
  
 The undersigned Lender hereby represents and warrants to the Company the following with respect to his financial status and investment sophistication:
  
 (a) Lender has the ability to bear the economic risks of lending under this Note.
  
 (b) (i) Lender has sufficient knowledge and experience in financial, business, or investment matters to participate in this Note. By reason of Lender's business or financial experience Lender has the capacity to evaluate the merits and risk of, and protect Lender's interests in connection with, the loan under this Note; or (ii) Lender has a preexisting personal or business relationship with the one or more of the officers or directors of the Company, of a nature and duration as would allow the Lender to be aware of the character, business acumen, general business and financial circumstances of the person(s) with whom such relationship exists. Lender acknowledges that the Note and the Shares are instruments for which no market exists.
  
 (c) Lender is an "accredited investor" as the term is defined in, Rule 501 of Regulation D of the Securities Exchange Act of 1934, as amended (the "Exchange Act").
  
 	 
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 (d) Lender is (i) a bank, insurance company, registered investment company, business development company, or small business investment company; (ii) an employee benefit plan, within the meaning of the Employee Retirement Income Security Act, if a bank, insurance company, or registered investment adviser makes the investment decisions, or if the plan has total assets in excess of $5 million; (iii) a charitable organization, corporation, or partnership with assets exceeding $5 million; (iv) a director, executive officer, or general partner of the company selling the securities; (v) a business in which all the equity owners are accredited investors; (vi) a natural person who has individual net worth, or joint net worth with the person’s spouse, that exceeds $1 million at the time of the purchase, excluding the value of the primary residence of such person; (vii) a natural person with income exceeding $200,000 in each of the two most recent years or joint income with a spouse exceeding $300,000 for those years and a reasonable expectation of the same income level in the current year; or (viii) a trust with assets in excess of $5 million, not formed to acquire the securities offered, whose purchases a sophisticated person makes.
  
 Lender acknowledges and accepts that the Shares issued in connection with this Note will be restricted and bear the following or a similar legend:
  
 THE SECURITIES REPRESENTED HEREBY HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE "ACT"), OR UNDER THE SECURITIES LAWS OF ANY STATE. THESE SECURITIES ARE SUBJECT TO RESTRICTIONS ON TRANSFERABILITY AND RESALE AND MAY NOT BE TRANSFERRED OR RESOLD EXCEPT AS PERMITTED UNDER THE ACT AND THE APPLICABLE STATE SECURITIES LAWS, PURSUANT TO REGISTRATION AND QUALIFICATION OR EXEMPTION THEREFROM.
  
 This Note may be assigned, in whole or in part, by the Lender without the express written consent of the Company. This Note is binding upon the Company and its successors and assigns and shall inure to the benefit of the Lender, his heirs and assigns.
  
 All of the Lender’s rights and remedies under this Note are cumulative and non-exclusive. The acceptance by the Lender of any partial performance hereunder shall not establish any waiver of the strict enforcement of this Note’s terms. The Company hereby waives presentment, protest, notice of presentment, default or nonpayment of this Note. The Company further waives any and all notice or similar rights to which the Company may be entitled with respect to this Note by application of any law.
  
 This Note has been delivered in, and shall be governed by and construed in accordance with, the internal laws of the State of Nevada, without regard to its principles of conflicts of law.
  
 The parties hereby submit all controversies, claims and matters of difference arising out of this Note to arbitration in the State of Nevada, according to the rules and practices of the American Arbitration Association from time to time in force. This submission and agreement to arbitrate shall be specifically enforceable.
  
 	 
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 If any legal action or any arbitration or other proceeding is brought for the enforcement of this Note, or because of an alleged dispute breach, default or misrepresentation in connection with any of the provisions of this Note, the successful or prevailing party shall be entitled to recover reasonable attorneys' fees and other costs incurred in that action or proceeding, in addition to any other relief to which it may be entitled.
  
 The books and records of the Company relating to all matters shall be available for inspection and copying at request of the Lender during ordinary business hours. The Lender shall also have the right, to meet with the Company's accountants and discuss with them any and all business of the Company.
  
 IN WITNESS WHEREOF, the undersigned has executed this Note as of the date first above written.
  
  
 	 THE COMPANY
  
 HEMPACCO CO, INC.
	  

	  
	  
	  

	 By: 
	 /s/ Sandro Piancone
	  

	 Name: 
	 Sandro Piancone
	  

	 Title: 
	 CEO
	  

	  
	  
	  

	 LENDER
	  

	 Name: 
	 Roger Ladd
	  

	  
	  
	  

	 By: 
	  
	  

	 Name: 
	 /s/ Roger Ladd
	  

	 Title: 
	  
	  

	 Address: 
	 [redacted]
	  

	 Address: 
	 [redacted]
	  

  
 	 
	-3-hemp_ex1029.htm

EXHIBIT 10.29
  
 STANDARD INDUSTRIAL/COMMERCIAL MULTI-TENANT LEASE - GROSS
  
 Basic Provisions ("Basic Provisions")
  
 1.1 Parties: This Lease ("Lease"), dated for reference purposes only January 1, 2020
 Is made by and Between Primus Logistics. Inc. ("Lessor") and Hempacco Co., lnc. ("Lessee"), (Collectively the "Parties", or individually a "Party").
  
 1.2(a) Premises: That certain port ion of the Project (as defined below), including all improvements therein or to be provided by Lessor under the terms of this Lease, commonly known by the street address of 9925 Airway Road, located in the City of San Diego, County of San Diego, State of California, with zip code 92154, as outlined on Exhibit A attached hereto ("Premises") and generally described as (describe briefly the nature of the premises): an approximately 2,500 square foot industrial space co, plus 2,500 square feet of offices (up front-downstairs) as part of a larger building totaling approximately 53,561 square feet.
  
 In addition to Lessee's rights to use and occupy the Premises as hereinafter specified, Lessee shall have non-exclusive rights to any utility raceways of the building containing the Premises (Building') and to the common Areas (as defined in Paragraph
 2.7 below) but shall not have any rights to the roof or exterior walls of the Building or to any other buildings in the Project. The Premises, the Building, the Common areas, the land upon which they are located, along with all other buildings and improvements thereon, are herein collectively referred to as the "Project"
  
 1.2(b) Parking: Eight (8) unreserved vehicle parking spaces.
  
 1.3 Term: Six Years (6) commencing years and Zero (0) months (“Original Term”) commencing January 1st 2020 (“Commencement Date”) and ending DECEMBER 31st, 2026 (“Expiration Date”).
  
 1.4 Early Possession: If the Premises are available, Lessee may have non-exclusive possession of the Premises commencing: 
  
 mutual lease execution, payment of total monies due and Certificate of Insurance ("Early Possession Date"). 
  
 1.5 Base Rent: $ 10,000.00 per month ("Base Rent"), payable on day of each month commencing January 1st, 2020.
  
 1.6 Lessee's Share of Common Areas operating Expenses: (0%) 
  
 ("Lessee's Share"). In the event that the size of the Premises and/or the Project are modified during the term of this Lease, Lessor shall recalculate Lessee's Share to reflect such modification. 
  
 1.7 Base Rent and Other Monies Paid Upon Execution:
  
 a) Base Rent: $10,000.00 For the period January 1. 2020 – December 31, 2026
  
 b) Common Area Operating Expenses: $0.00 for the period January 1. 2020 – December 31, 2026
  
 c) Security Deposit: $0 ("Security Deposit"). (See also Paragraph 5)
  
 d) Other: $ ______________ for _______________.
  
 1.8 Agreed Use: Production, Warehouse distribution, general office administration and any other legally permitted use. Primus Logistics, Inc. will have use of the doors to load and unload merchandise, but will not inventory any product in the designated areas.
  
 	 
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 1.9 Insuring Party. Lessor is the "Insuring Party".
  
 1.10 Attachments. Attached hereto are the following, all of which constitute a part of this lease:
  
 ☒ site plan depicting the Premises;
   	 ___________________
	 ___________________

	  
	  

	 INITIALS
	 INITIALS

  
 ADDENDUM TO THE STANDARD INDUSTRIAL/COMMERCIAL MULTI-TENANT LEASE – GROSS BY AND BETWEEN PRIM US LOGISTICS, INC AS LESSEE AND HEMPACCO CO, INC. AS LESSOR FOR THE PROPERTY LOCATED AT 9925 AIRWAY ROAD, SAN DIEGO, CALIFORNIA
  
 2.0 RENT INCREASES: The base rent shall be adjusted by a three percent (3%) fixed annual increase as follows:
  
 Year 2) January 1st, 2021 - December 31st, 2021 the base rent shall be $10,300 per month, GROSS Year 3) 
 January 1st, 2022 - December 31st, 2022 the base rent shall be $ 10,609 per month, GROSS Year 4) 
 January 1st, 2023 - December 31st, 2023 the base rent shall be $ 10,926.27 per month, GROSS
 Year 5) January 1st, 2024 - December 31st, 2024 the base rent shall be $ 11,254.06 per month, GROSS 
 Year 6) January 1st, 2025 - December 31st, 2025 the base rent shall be $ 11,591.68 per month, GROSS
  
 2.1 OFFICE S PACE: Lessee shall have non-exclusive use of the reception/lobby area, conference room, break room and restrooms on the second floor area.
  
 2.2 UTILITIES: The lease shall include all electricity.
  
 	/s/ Juan Hererra	 	/s/ Sandro Piancone	 
	Primus Logistics, Inc	 	Hempacco Co. Inc.	 
	Juan Hererra	 	Sandro Piancone	 

  
 	 
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