SEC Contract Filing

Filing Date: 2015-10-01

Document Content:
<DOCUMENT>
<TYPE>EX-10.2
<SEQUENCE>3
<FILENAME>konaredexh10_2.htm
<DESCRIPTION>KONARED 8K, PROMISSORY NOTE, BLACK MOUNTAIN
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<font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; FONT-WEIGHT: bold; DISPLAY: inline">Exhibit 10.2</font></div>

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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="justify"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; FONT-WEIGHT: bold; DISPLAY: inline">THIS SECURITY HAS NOT BEEN REGISTERED WITH THE SECURITIES AND EXCHANGE COMMISSION OR THE SECURITIES COMMISSION OF ANY STATE IN RELIANCE UPON AN EXEMPTION FROM REGISTRATION UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE &#8220;<font style="TEXT-DECORATION: underline; DISPLAY: inline">SECURITIES ACT</font>&#8221;), AND, ACCORDINGLY, MAY NOT BE OFFERED OR SOLD EXCEPT PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT UNDER THE SECURITIES ACT OR PURSUANT TO AN AVAILABLE EXEMPTION FROM, OR IN A TRANSACTION NOT SUBJECT TO, THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT AND IN ACCORDANCE WITH APPLICABLE STATE SECURITIES LAWS. THIS SECURITY MAY BE PLEDGED IN CONNECTION WITH A BONA FIDE MARGIN ACCOUNT OR OTHER LOAN SECURED BY SUCH SECURITIES.</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: 11pt; FONT-FAMILY: times new roman; FONT-VARIANT: small-caps; FONT-WEIGHT: bold; DISPLAY: inline">KONARED CORPORATION</font></div>

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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="justify"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">Issuance Date:&#160;&#160;September 30, 2015</font></div>
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<div style="TEXT-ALIGN: right; MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">Original Principal Amount: $100,000.00</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"><font style="FONT-WEIGHT: bold; DISPLAY: inline">FOR VALUE RECEIVED,</font> <font style="FONT-WEIGHT: bold; DISPLAY: inline">KONARED</font> <font style="FONT-WEIGHT: bold; DISPLAY: inline">CORPORATION</font>, a Nevada corporation (the &#8220;<font style="FONT-WEIGHT: bold; FONT-STYLE: italic; DISPLAY: inline">Company</font>&#8221;), hereby promises to pay to the order of <font style="FONT-WEIGHT: bold; DISPLAY: inline">BLACK MOUNTAIN EQUITIES INC.</font> or its registered assigns (&#8220;<font style="FONT-WEIGHT: bold; FONT-STYLE: italic; DISPLAY: inline">Holder</font>&#8221;) the amount set out above as the Original Principal Amount (as reduced pursuant to the terms hereof pursuant to scheduled or early redemptions, or otherwise, the &#8220;<font style="FONT-WEIGHT: bold; FONT-STYLE: italic; DISPLAY: inline">Principal</font>&#8221;) when due, whether upon the Maturity Date (as defined below), acceleration, early redemption or otherwise (in each case in accordance with the terms hereof) and to pay interest (&#8220;<font style="FONT-WEIGHT: bold; FONT-STYLE: italic; DISPLAY: inline">Interest</font>&#8221;) based on a one-time 8% interest charge equal to $8,000 which shall be deemed earned on the Issuance Date due and payable at Maturity Date. This Subordinated Promissory Note (this &#8220;<font style="FONT-WEIGHT: bold; FONT-STYLE: italic; DISPLAY: inline">Note</font>&#8221;, including all Promissory Notes issued in exchange, transfer or replacement hereof, collectively, the &#8220;<font style="FONT-WEIGHT: bold; FONT-STYLE: italic; DISPLAY: inline">Notes</font>&#8221;) is issued pursuant to the Securities Purchase Agreement (as defined below) on the Closing Date (as defined below) (collectively, the &#8220;<font style="FONT-WEIGHT: bold; FONT-STYLE: italic; DISPLAY: inline">Notes</font>&#8221;). Certain capitalized terms used herein are defined in Section 21 or in the Securities Purchase Agreement, as applicable.</font></div>

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