SEC Contract Filing

Filing Date: 2024-04-01

Document Content:
<DOCUMENT>
<TYPE>EX-10.19
<SEQUENCE>2
<FILENAME>promissorynoteinb.htm
<DESCRIPTION>PROMISSORY NOTE WITH INB
<TEXT>
<html>
 <head>
 <title></title>
 <meta content="MSHTML 11.00.10586.1176" name="GENERATOR">
 <!-- Licensed to: Summit, a Broadridge Company
 Document created using Broadridge PROfile 24.3.1.5224
 Copyright 1995 - 2024 Broadridge -->
 </head>
<body text="#000000" bgcolor="#ffffff" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">
 <div>
 <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: right">Exhibit 10.13</div>
 <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: center">PROMISSORY NOTE</div>
 <div><br>
 </div>
 <table cellspacing="0" cellpadding="0" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 100%" id="993434ab56d242f4bcbe693c62e0b686">

 <tr>
 <td style="WIDTH: 17.11%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 2px solid">
 <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: center">Principal</div>
 <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: center">$8,000,000.00</div>
 </td>
 <td style="WIDTH: 13.16%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 2px solid">
 <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: center">Loan Date</div>
 <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: center">11-20-2023</div>
 </td>
 <td style="WIDTH: 15.04%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 2px solid">
 <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: center">Maturity</div>
 <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: center">11-20-2024</div>
 </td>
 <td style="WIDTH: 12.22%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 2px solid">
 <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: center">Loan No.</div>
 <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: center">72957158-40000</div>
 </td>
 <td style="WIDTH: 12.86%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 2px solid">
 <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: center">Call / Coll</div>
 <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: center">C / 3</div>
 </td>
 <td style="WIDTH: 11.58%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 2px solid">
 <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: center">Account</div>
 <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: center">72957158</div>
 </td>
 <td rowspan="1" style="WIDTH: 9.4%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 2px solid">
 <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: center"><br>
 </div>
 <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: center">Initials</div>
 <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: center">&#160; TWG<br>
 </div>
 </td>
 </tr>
 <tr>
 <td style="WIDTH: 2.46%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 2px solid">&#160;</td>
 <td colspan="5" style="WIDTH: 95.07%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 2px solid">
 <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: center">References in the boxes above are for Lender's use only and do not limit the applicability of this document to any particular loan or item.</div>
 <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: center">Any item above containing "***" has been omitted due to text length limitations.</div>
 </td>
 <td style="WIDTH: 2.46%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 2px solid">&#160;</td>
 </tr>

 </table>
 <div><br>
 </div>
 <table cellspacing="0" cellpadding="0" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 100%" id="93e7de2ba3f04fcba45d814e42d0dc0c">

 <tr>
 <td style="WIDTH: 14.41%; VERTICAL-ALIGN: top">
 <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: left">Borrower:</div>
 </td>
 <td colspan="2" style="WIDTH: 25.68%; VERTICAL-ALIGN: top">
 <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">UTG, INC.</div>
 </td>
 <td style="WIDTH: 15.61%; VERTICAL-ALIGN: top">&#160;</td>
 <td style="WIDTH: 11.27%; VERTICAL-ALIGN: top">
 <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: left">Lender:</div>
 </td>
 <td style="WIDTH: 33.03%; VERTICAL-ALIGN: top">
 <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">INB NATIONAL ASSOCIATION<br>
 </div>
 </td>
 </tr>
 <tr>
 <td style="WIDTH: 14.41%; VERTICAL-ALIGN: top">&#160;</td>
 <td colspan="2" style="WIDTH: 25.68%; VERTICAL-ALIGN: top">
 <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">C/O TED MILLER / 111 WEST MAIN STREET<br>
 </div>
 </td>
 <td style="WIDTH: 15.61%; VERTICAL-ALIGN: top">&#160;</td>
 <td style="WIDTH: 11.27%; VERTICAL-ALIGN: top">&#160;</td>
 <td style="WIDTH: 33.03%; VERTICAL-ALIGN: top">
 <div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">MAIN BRANCH</div>
 </td>
 </tr>
 <tr>
 <td style="WIDTH: 14.41%; VERTICAL-ALIGN: top">&#160;</td>
 <td colspan="2" style="WIDTH: 25.68%; VERTICAL-ALIGN: top">
 <div style="FONT-SIZE: 10pt; FONT-FAMILY: