SEC Contract Filing

Filing Date: 2015-02-11

Document Content:
<DOCUMENT>
<TYPE>EX-10.1
<SEQUENCE>2
<FILENAME>mod_ex101.htm
<DESCRIPTION>BUSINESS LOAN AGREEMENT
<TEXT>
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<div style="TEXT-ALIGN: right"><font style="FONT-WEIGHT: bold">Exhibit 10.1</font></div>

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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="center"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; FONT-WEIGHT: bold; DISPLAY: inline">BUSINESS LOAN AGREEMENT</font></div>

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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 36pt" align="justify"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline">This Business Loan Agreement (this &#8220;<font style="TEXT-DECORATION: underline; DISPLAY: inline">Agreement</font>&#8221;) dated as of September 13, 2005, is among Amarillo National Bank (the &#8220;<font style="TEXT-DECORATION: underline; DISPLAY: inline">Bank</font>&#8221;), NaturalShrimp Holdings, Inc., a Delaware corporation (the &#8220;<font style="TEXT-DECORATION: underline; DISPLAY: inline">Borrower</font>&#8221;), NaturalShrimp Corporation, a Delaware corporation (&#8220;<font style="TEXT-DECORATION: underline; DISPLAY: inline">NSC</font>&#8221;), NaturalShrimp International, Inc., a Delaware corporation (&#8220;<font style="TEXT-DECORATION: underline; DISPLAY: inline">NSI</font>&#8221;), NaturalShrimp San Antonio, L.P., a Texas limited partnership (&#8220;<font style="TEXT-DECORATION: underline; DISPLAY: inline">Partnership</font>&#8221; collectively, NSC, NSI and Partnership are referred to herein as the &#8220;<font style="TEXT-DECORATION: underline; DISPLAY: inline">NS Entities</font>&#8221;), Shirley Williams, Gerald Easterling and Mary Ann Untermeyer (the &#8220;<font style="TEXT-DECORATION: underline; DISPLAY: inline">Controlling Shareholders</font>&#8221;), and High Plains Christian Ministries Foundation (the &#8220;<font style="TEXT-DECORATION: underline; DISPLAY: inline">Guarantor</font>&#8221;).</font></div>

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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 36pt" align="justify"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline">WHEREAS, NSC is in Phase One (as defined in <font style="TEXT-DECORATION: underline; DISPLAY: inline">Exhibit A</font> attached hereto) of developing and constructing a shrimp production facility in La Coste, Texas (the &#8220;<font style="TEXT-DECORATION: underline; DISPLAY: inline">Project</font>&#8221;) which is more fully described on <font style="TEXT-DECORATION: underline; DISPLAY: inline">Exhibit A</font> attached hereto;</font></div>

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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 36pt" align="justify"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline">WHEREAS, the Borrower and the NS Entities desire to finance the Project with the Loan (defined below) which is to be guaranteed by Guarantor (the &#8220;Guaranty&#8221;) in order to provide the best possible financing terms to Borrower;</font></div>

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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 36pt" align="justify"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline">WHEREAS, the Bank desires to make the Loan on the terms and conditions provided for herein or in documents, instruments or agreements incorporated by reference herein; and</font></div>

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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 36pt" align="justify"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline">WHEREAS, the Guarantor desires to guarantee the Loan on the terms and conditions provided for herein or in the documents, instruments or agreements incorporates by reference herein.</font></div>

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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 36pt" align="justify"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline">NOW THEREFORE, in consideration of the foregoing and the mutual promises set forth below, the parties to this Agreement agree as follows:</font></div>

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<div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline">Section 1.</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt">&#160;</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; D