SEC Contract Filing

Filing Date: 2023-11-20

Document Content:
<DOCUMENT>
<TYPE>EX-10.6
<SEQUENCE>4
<FILENAME>fortune_ex1006.htm
<DESCRIPTION>PROMISSORY NOTE, DATED AUGUST 14, 2023, ISSUED BY FORTUNE RISE ACQUISITION CORPORATION TO WATER ON DEMAND, INC.
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<P STYLE="margin: 0"><B>Exhibit 10.6</B></P>

<P STYLE="margin: 0"><B>&nbsp;</B></P>

<P STYLE="margin: 0"><B>&nbsp;</B></P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">THIS PROMISSORY NOTE (&quot;NOTE&quot;) HAS NOT BEEN REGISTERED UNDER
THE SECURITIES ACT OF 1933, AS AMENDED (THE &quot;SECURITIES ACT&quot;). THIS NOTE HAS BEEN ACQUIRED FOR INVESTMENT ONLY AND MAY NOT BE
SOLD, TRANSFERRED OR ASSIGNED IN THE ABSENCE OF REGISTRATION OF THE RESALE THEREOF UNDER THE SECURITIES ACT OR AN OPINION OF COUNSEL REASONABLY
SATISFACTORY IN FORM, SCOPE AND SUBSTANCE TO THE COMPANY THAT SUCH REGISTRATION IS NOT REQUIRED.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>PROMISSORY NOTE</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B></B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top; text-align: left">
 <TD STYLE="width: 50%">Principal Amount: $10,000.00</TD>
 <TD STYLE="text-align: right; width: 50%">Effective as of August 14, 2023</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
 <TD>&nbsp;</TD>
 <TD STYLE="text-align: right">Clearwater, Florida</TD></TR>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Fortune Rise Acquisition Corporation,
a Delaware corporation (&ldquo;<B>Maker</B>&rdquo;), promises to pay to the order of Water On Demand, Inc., a Nevada corporation, or its
registered assigns or successors in interest or order (&ldquo;<B>Payee</B>&rdquo;), the principal sum of up to Ten Thousand Dollars ($10,000.00)
in lawful money of the United States of America, on the terms and conditions described below. All payments on this Note shall be made
by check or wire transfer of immediately available funds or as otherwise determined by Maker to such account as Payee may from time to
time designate by written notice in accordance with the provisions of this Note.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"><B>1.&nbsp;Repayment.</B>
The principal balance of this Note shall be payable by Maker on the earlier of (such date, the &ldquo;<B>Maturity Date</B>&rdquo;), subject
to Section 12 below, (a) the date on which Maker consummates its initial business combination and (b) the date of the liquidation of Maker.
The principal balance may be prepaid at any time, at the election of Maker. Under no circumstances shall any individual, including but
not limited to any officer, director, employee or shareholder of the Maker, be obligated personally for any obligations or liabilities
of the Maker hereunder.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"><B>2.&nbsp;Interest.</B>
This Note shall be non-interest bearing.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"><B>3.&nbsp;Reserved.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"><B>4.&nbsp;Application of
Payments.</B> All payments received by Payee pursuant to this Note shall be applied first to the payment in full of any costs incurred
in the collection of any sum due under this Note, including (without limitation) reasonable attorney&rsquo;s fees, and then to the reduction
of the unpaid principal balance of this Note.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"><B>5.&nbsp;Events of Default.</B>
The following shall constitute an event of default (&ldquo;<B>Event of Default</B>&rdquo;):</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="display: inline-block; width: 0.5in; float: left; white-space:nowrap">(a)</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif">
</FONT><U>Failure to Make Required Payments.</U> Failure by Maker to pay the principal amount due pursuant to this Note within five (5)
business days of the date specified above.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="display: inline-block; width: 0.5in; float: left; white-space:nowrap"