Document:

fs12012a4ex4i_intelligent.htm

Exhibit 4.1

 

Intelligent Highway Solutions, Inc.

SECURED PROMISSORY NOTE

 

	
Effective Date: June 17, 2011 

	Due Date: December 17, 2011

 

Principal: $65,000 (This amount includes $15,000 previously advanced by the Payee and which Devon Jones agreed to repay, which agreement is now merged into this Note so that the Maker shall pay such amount, and Devon Jones shall only remain liable to pay amounts as the Guarantor signing below as to the full amounts due hereunder.)

 

FOR VALUE RECEIVED, the receipt and consideration is hereby irrevocable confirmed and satisfactory, the undersigned company agrees as follows.

 

1. The undersigned ("Maker" or "Company"), hereby promises to pay to the order of the below "Payee" or heirs, assigns or holders ("Payee"), in lawful money of the United States of America, and in immediately available funds, the following by the Due Date:

(a) the outstanding principal sum, current amount, as of this date, set forth herein ("Principal");

(b) regular and default, if applicable, Interest;

(c) reasonable attorney fees and costs if due in the event of an uncured default of this Note; and

(d) all obligations that become due by any default of the Maker of this Note.

 

2. Interest on the Principal shall be paid as follows:

(a) Principal shall bear a simple interest of 1.5% per month, and shall accrue on the amount of the then Principal balance of this Note. Interest payment shall be paid on the 17th day of each month for the previous month of outstanding Principal.

 

3. The Principal hereof shall be due and payable, notwithstanding anything, on the Due Date.

 

4. Payment of all amounts due hereunder shall be made at the address of the Payee herein or at such other place as the Payee may designate in writing at any time or from time to time.

 

5. This Note may be prepaid, in whole or in part, and prepayments shall be first applied to Interest and then applied to Principal, however, if a default occurs, monies may be applied to the obligations in any manner or order deemed appropriate by the Payee as between Principal and Interest.

 

6. The occurrence of anyone or more of the following events, if not cured, shall constitute an Event of Default under this Note:

(a) the non-payment, when due, of any Principal or Interest pursuant to this Note;

Note

(b) the material breach of any promise or representation in this Note.

 

Upon the occurrence of any default or Event of Default, the Payee may declare, in writing to the Maker, that all amounts hereunder are due and payable immediately, in which event it shall immediately be and become due and payable but only following 10 days from notice in writing to Maker for an opportunity to defend or cure within said 10 days, and if so cured then no Event of Default or default shall apply.

 

  

  

  

 

THE MAKER also agrees to execute and deliver to the Payee a security agreement, and to file a UCC-I Financing Statement, to secure the payments due to the Payee hereunder, no later than July 16,2011, otherwise this Note shall be in default. The collateral for such security agreement shall be: all intangible and tangible assets of the Maker.

 

7. The Company agrees that all of the rights and remedies of the Payee hereto whether established hereby or by law shall be cumulative and may be exercised singly or concurrently. Company shall reflect the obligation of this Note in all financial statements and related disclosures.

 

8. This Note shall be construed in accordance with the laws of the State of California without reference to conflict of laws principles.

 

9. The parties irrevocably submit to the exclusive jurisdiction of any court sitting in Elk Grove, California. The parties hereto agree that a final judgment in any such action or proceeding shall be conclusive and may be enforced in other jurisdictions by suit on the judgment or in any other manner provided by law. The parties hereto further waive any objection to venue in the said part of said State.

 

10. In the event Payee shall refer this Note to an attorney for collection in the event of an uncured default, the Maker agrees to pay all the reasonable costs and expenses incurred in attempting or effecting collection hereunder or enforcement of the terms of this Note, including reasonable attorney's fees.

 

11. It is the intention of the parties to conform strictly to applicable usury and similar laws. Accordingly, notwithstanding anything to the contrary in this Note, it is agreed that the aggregate of all charges which constitute interest under applicable usury and similar laws that are contracted for, chargeable or receivable under or in respect of this Note, shall under no circumstances exceed the maximum amount of interest permitted by such laws, and any excess, whether occasioned by acceleration or maturity of this Note or otherwise, shall be additional stipulated damages or treated as the Payee determines towards any other obligations to the Payee.

 

12.The Payee understands and agrees, as a condition hereof:

CERTAIN STATEMENTS FROM OR ABOUT THE COMPANY MAY CONSTITUTE FORWARD-LOOKING STATEMENTS. THESE STATEMENTS MAY INVOLVE KNOWN AND UNKNOWN RISKS. ACTUAL RESULTS MAY DIFFER. COMPANY, BUSINESS, STOCK, PROJECTIONS, AND PLANS ARE SUBJECT TO RISKS, HOWEVER THIS SHALL NOT IN ANY WAY EFFECT THE OBLIGATION TO PAY THE AMOUNT DUE TO THE PAYEE HEREUNDER.

 

The undersigned Payee represents to the Company as conditions as follows, as to the undersigned:

(a) has carefully reviewed and understands this Note,

(b) has not been furnished with any representations or other materials or literature,

(c) has had a reasonable opportunity to ask questions of and receive answers from the Company,

(d) has such knowledge and expertise in fmancial and business matters such that the undersigned is capable of evaluating the merits and risks involved in an investment,

(e) and the undersigned is an "accredited investor," as defined under SEC Regulation D, Rule 501.

 

  

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Nothing in this Section shall be deemed a defense to the timely payment of the Principal and Interest due under this Note.

 

13. Wherever the context shall require, all words herein in the masculine gender shall be deemed to include the feminine or neuter gender, all singular words shall include the plural, and all plural shall include the singular. If any provision hereof is deemed unenforceable by a court of competent jurisdiction, the remainder of this Note, and the application of such provision in other circumstances shall not be affected thereby. No waiver of any provision of this Agreement shall be valid unless in writing and signed by the waiving party. This Note may only be amended or modified at any time, and from time to time, in writing, executed by the Maker and Payee hereto.

 

14. NOTWITHSTANDLNG anything, this Note shall be fully assignable by Payee after 5 business days prior written notice by Payee to Maker.

 

15. Additional Incentive to Payee:

Payee shall receive, in addition to full payment of this Note including principal and interest, 0.4% (four tenths of one percent) of common stock ownership in Maker, within 60 days or less of the Effective Date hereof. The 0.4% (four tenths of one percent) of common stock ownership shall not be diluted through the date of the first equity finance offering, private or public, that is greater than 20% (twenty percent) of the total stock shares of Maker. It has been represented by Maker that common stock will be the only stock of Maker.

 

IHS agrees to issue 40,000 shares of common stock at an arbitrary price of $0.002 per share, as a loan fee equal to $80.00.

 

Signature page to follow

 

  

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	Maker: 	
Intelligent Highway Solutions, Inc.

9245 Laguna Springs Dr. Suite 120

Elk Grove, California 95758

 

The Maker hereby accepts this Note subject to the terms and conditions above including Effective Date.

 

	By: 	/s/ Devon Jones	 	 	 	 
	 	
CEO, Devon Jones

	 	 	
 

	 

 

	Payee:	
Innovest, LLC

4185 Greenview Drive

El Dorado Hills, CA 95762

 

The Payee hereby accepts this Note subject to the terms and conditions above including Effective Date.

 

	By: 	 /s/ Doug Powell	 	 	 	 
	 	
Managing Member, Doug Powell

 

Personal Guarantee

 

We, jointly and severally, hereby personally agree to pay the outstanding overdue amounts, including the above costs of collection, in the event of an uncured default of this Note as a guarantee of the collection of such amounts by the Payee.

 

	
/s/ Devon Jones

	 	 	 	 
	
Devon Jones

	 	 	 	 
	
 

	 	 	
 

	 
	
/s/ Philip Kirkland

	 	 	 	 
	
Philip Kirkland

	 	 	 	 

 

  

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Addendum to Promissory Note Dated June 17, 2011

 

Pursuant to our conversation we mutually agreement to extend the due date of the note attached from December 17, 2012 to a new due date of March 17, 2012.

 

Not with standing any verbal agreements, all the terms and conditions of the original promissory note shall remain in full force and effect.

 

The Maker "Devon Jones" shall continue to make interest only payments monthly to the "Payee" lnnovest , LLC.

 

In consideration for extending the note pay-off date, the Marker agrees to issue to the Payee an additional 0.2% (two tenths of one percent); equally a total of 0.6% (six tenths of one percent) of the total outstanding shares of common stock as issued by Intelligent Highway Solutions, Inc. It is anticipated that the stock will be listed on the OTCBB, and an S-1 registration statement will be filed with the United States Securities Exchange.

 

	By: 	/s/ Devon Jones	 	Dated:	
12-22-11

	 
	 	Devon Jones, Chief Executive Officer	 	 	
 

	 
	 	
Intelligent Highway Solutions, Inc.

	 	 	
 

	 

  

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Addendum to Promissory Note Dated June 17, 2011

 

Pursuant to our conversation we mutually agreed to extend the due date of the note attached from March 17, 2012 to a new due date of June 17, 2012.

 

Not with standing any verbal agreements, all the terms and conditions of the original promissory note shall remain in full force and effect.

 

The Maker "Devon Jones" shall continue to make interest only payments monthly to the "Payee" Innovest , LLC.

 

In consideration for extending the note pay-off date, the Marker agrees to issue to the Payee an additional 0.2% (two tenths of one percent); equally a total of 0.8% (eight tenths of one percent) of the total outstanding shares of common stock as issued by Intelligent Highway Solutions, Inc. It is anticipated that the stock will be listed on the OTCBB, and an S-1 registration statement will be filed with the United States Securities Exchange.

 

	By: 	/s/ Devon Jones	 	Dated:	
3-22-12

	 
	 	Devon Jones, Chief Executive Officer	 	 	
 

	 
	 	
Intelligent Highway Solutions, Inc.

	 	 	
 

	 

  

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Addendum to Promissory Note Dated June 17, 2011

 

Pursuant to our conversation we mutually agreed to extend the due date of the note to a new due date of March 17, 2013.

 

Not with standing any verbal agreements, all the terms and conditions of the original promissory note shall remain in full force and effect.

 

The Maker "Devon Jones" shall continue to make interest only payments monthly to the "Payee" Innovest , LLC with no additional stock for this addendum.

 

	By: 	/s/ Devon Jones	 	Dated:	
10/2/12

	 
	 	Devon Jones, Chief Executive Officer	 	 	
 

	 
	 	
Intelligent Highway Solutions, Inc.

	 	 	
 

	 

 

	By: 	/s/ Doug Powell	 	Dated:	
10/2/12

	 
	 	Doug Powell, Managing Member	 	 	
 

	 
	 	
Innovest LLC.

 

 

7fs12012a4ex4iii_intelligent.htm

Exhibit 4.3

 

PROMISSORY NOTE

 

	Amount of the Note: $9,000.00 	

Date: April 3, 2012

Payee: James Byrd Jr. and Robin Byrd. TBE

 

FOR VALUE RECEIVED, the undersigned, Intelligent Highway Solutions, Inc., Devon Jones and Phillip Kirkland (jointly and severally referred to as "Maker") promise to pay to the order of the Payee, ("defined as the Payee or any Holder in due course of this Note), at such place as the Payee may from time to time designate to the Maker in writing, in legal tender of the United States, the sum of Nine Thousand Dollars ($9,000.00), upon the following terms:

 

1.     The Principal Amount of the Note shall be due and payable as follows:

 

	
  a.)    

	
$500 per month on the 1st of each month of June, July and August 2012.

	
b.)    

	
$700 per month beginning on September 1, 2012 and continuing of the 1s1 day of every month until the entire principal amount is paid in full.

 

Provided that all payments are received on or before the 1'1 of each month as agreed, Payee agrees to waive all interest due hereunder, however, if any payments are not received when due, this Note shall bear interest at the highest allowable rate under Florida law from the date of this Note.

 

2.     If at any time, any monies due hereunder are not paid when due, time being of the absolute essence, Maker shall be in default. In such event, Payee shall have all rights and remedies available to it under Florida law, and in the event that Payee is required to take any legal action to collect upon, or otherwise enforce this Note, Maker agrees to pay all costs of collection of this Note including attorney's fees. In the event of default, this Note and all sums due hereunder shall bear interest at the highest lawful rate of interest permitted in the State of Florida from and after the date when such sums are due. The interest payable or agreed to be paid hereunder shall not exceed the highest lawful rate of interest permitted in the State of Florida, and if, inadvertently, there is such excess sum, it shall be applied to reduce the Principal Amount.

 

3.     This Note shall be construed and enforced according to the laws of Florida. This Note may not be changed orally, but only by an agreement in writing, signed by the party against whom enforcement of any waiver, change, modification or discharge is sought.

 

"Maker"

 

Intelligent Highway Solutions, Inc.

 

	By:	/s/ Devon Jones	 	 	/s/ Devon Jones	 
	 	Devon Jones, CEO	 	 	Devon Jones, Individually	 
	 	 	 	 	
 

	 
	/s/ James Byrd Jr.	 	 	/s/ Phillip Kirkland	 
	James Byrd, Jr. 	 	 	Phillip Kirkland, Individually	 
	 	 	 	 	 
	/s/ Robin U. Byrd	 	 	 	 
	Robin U. Byrd

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