SEC Contract Filing

Filing Date: 2019-05-29

Document Content:
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<TYPE>EX-10.1
<SEQUENCE>2
<FILENAME>ex10-1.htm
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<P STYLE="margin: 0; font: 10pt Times New Roman, Times, Serif; text-align: right">EXHIBIT 10.1</P>

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<P STYLE="margin: 0; font: 10pt Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>NEITHER
THE ISSUANCE NOR SALE OF THE SECURITIES REPRESENTED BY THIS CERTIFICATE NOR THE SECURITIES INTO WHICH THESE SECURITIES ARE CONVERTIBLE
HAVE BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED, OR APPLICABLE STATE SECURITIES LAWS. THE SECURITIES MAY NOT
BE OFFERED FOR SALE, SOLD, TRANSFERRED OR ASSIGNED (I) IN THE ABSENCE OF (A) AN EFFECTIVE REGISTRATION STATEMENT FOR THE SECURITIES
UNDER THE SECURITIES ACT OF 1933, AS AMENDED, OR (B) AN OPINION OF COUNSEL (WHICH COUNSEL SHALL BE SELECTED BY THE HOLDER), IN
A GENERALLY ACCEPTABLE FORM, THAT REGISTRATION IS NOT REQUIRED UNDER SAID ACT OR (II) UNLESS SOLD PURSUANT TO RULE 144 OR RULE
144A UNDER SAID ACT. NOTWITHSTANDING THE FOREGOING, THE SECURITIES MAY BE PLEDGED IN CONNECTION WITH A BONA FIDE MARGIN ACCOUNT
OR OTHER LOAN OR FINANCING ARRANGEMENT SECURED BY THE SECURITIES.</B></FONT></P>

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 <TD STYLE="width: 65%; font: 10pt Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Principal
 Amount: $262,500.00</B></FONT></TD>
 <TD STYLE="width: 35%; font: 10pt Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Issue
 Date: May 21, 2019 </B></FONT></TD></TR>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Purchase
Price: $250,000.00</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Original
Issue Discount: $12,500.00</B></FONT></P>

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

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 35.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>FOR
VALUE RECEIVED</B>, <B>TWO RIVERS WATER &amp; FARMING COMPANY</B>, a Colorado corporation (hereinafter called the &ldquo;Borrower&rdquo;)
(Trading Symbol: TURV), hereby promises to pay to the order of <B>MORNINGVIEW FINANCIAL, LLC</B>, a Wyoming limited liability
company, or registered assigns (the &ldquo;Holder&rdquo;) the principal sum of $262,500.00 (the &ldquo;Principal Amount&rdquo;),
together with interest at the rate of ten percent (10%) per annum, at maturity or upon acceleration or otherwise, as set forth
herein (the &ldquo;Note&rdquo;). The consideration to the Borrower for this Note is $250,000.00 (the &ldquo;Consideration&rdquo;).
At the closing, the outstanding principal amount under this Note shall be $262,500.00, consisting of the Consideration plus the
OID (as defined herein). The maturity date shall be twelve (12) months from the Issue Date (the &ldquo;Maturity Date&rdquo;),
and is the date upon which the principal sum, as well as any accrued and unpaid interest and other fees shall be due and payable.
This Note may not be prepaid in whole or in part except as otherwise explicitly set forth herein. Any amount of principal or interest
on this Note, which is not paid by the Maturity Date, shall bear interest at the rate of the lesser of (i) eighteen percent (18%)
per annum and (ii) the maximum amount permitted by applicable law from the due date thereof until the same is paid (&ldquo;Default
Interest&rdquo;). Interest shall commence accruing on the date that the Purchase Price is fully paid and shall be computed on
the basis of a 365-day year and the actual number of days elapsed. All payments due hereunder (to the extent not converted into
the Borrower&rsquo;s common stock (the &ldquo;Common Stock&rdquo;) in accordance with the terms hereof) shall be made in lawful
money of the United States of America. All payments shall be made at such address as the Holder shall hereafter give to the Borrower
by written notice made in accordance with the provisions of this Note. Whenever any amount expressed to be due by the terms of
this Note is due on any day which is not a business day, the same shall instead be due on the next succeeding day which is a business
day and, in the case of any interest payment date which is not the date on which this Note is paid in full, the extension of the
due date thereof shall not be taken into account for purposes of determining the amount of interest due on such date. As