Preview
FILED: ONONDAGA COUNTY CLERK 04/11/2024 01:02 PM INDEX NO. 003789/2024
NYSCEF DOC. NO. 2 RECEIVED NYSCEF: 04/11/2024
"A"
Exhibit
Promissory Note/Security Agreement/Personal Guaranty
FILED: ONONDAGA COUNTY CLERK 04/11/2024 01:02 PM INDEX NO. 003789/2024
NYSCEF DOC. NO. 2 RECEIVED NYSCEF: 04/11/2024
THIS IS A COPY Page 1 CI 3
DOCuSignEnvelope ID: 76669C7D-D93E-44F4-8B22-FED3AE51517A
This In a COpy view Of the Authoritative Copy held
AGREEMENT
FINANCING (t.ImitedLlabilityCompany
(LLC)) by the designated custodian
PROMISSORY
NOTEISECURITY
AGREEMENT/PERSONAL GUARANTY
Agreenent
No.. 1083210
COMPLETE
NAMEANDADDRESS OF COIiPLETE OFGUARANTOR
NAMEANDADDRESS NAMEANDADDRESS
COMPLETE OFDEBTOR
CREDITOR
Bankers
Healthcare
Group,LLC JamiMorrisJohnson TransportServices
Advantage LLC
10234 Road84
W Stage 5280MeadeStreet 5380ZuniStreet,Usit5B
DarleFL33324 CO80221
Denver, Denver,CO80221
(800)900-8401
ThedaleofthisPromissory AgreemenVPersonal
NotefSecurity Guaranly isthedateofexecution
"Agreement*)
(collectively areasreneded
andlheiraddresses
notedbelow,Theparties above.
FORCOMMERCIAL PURPOSES ANDVALUERECENED, Detner doeshereby promiseto payto Creditoror ItsOrder,at theaddresslistedaboveor atsuchotherlocationasotherwisedesignated by
Creditor,metotalsumof Eighty-Eight
Thousand, ThreeHundredForty-SIx DOLLARS andSixteenCENTS ($88,346,16).whichrepresents thetotalofpayments plusinleresIdueandwhichwill
ofprincipal
become duehereundertomthedateofthisAgreement whichsumsshallbepayable
untilto malurilydateofthisAgreement, in rrenthlyinstallrnants,
assetforthintheAddendum whichis 4ncorporated
herelo,
hereinbythisreference lo One
Inaddition totalsumofpayments Deblordoesherebyproniseto payinterestpayable computed dailyontheoutstandng principal
balanceofIheAgreement determñad asofthe
doseofbusiness oneachdaycommendng onthefundngdateanduplo one(1)monthpriortothelirstpayment dale. Intesim vel bedueandpaystAs
whenapplicable.
interest, onemonlhpnorimIheIrst
scheduled payment
Inonthly andwillbededuded fromIhearnountfundedtotheDebtor
PA1fMENT(8) INTHEAMOUNT
OF BEGBINING
ON
THE PAYMENTCOIIBIENCEMENT
DATE WILL BE
84 $1,05074 REFLECTED
ONTHERECORDED VERIFICATION
VERBAL
FORIWL
I
PREPAYMENT:PURSUANTTOTHETERMSOFTHISNOTE,
DEBTOR TOPISPAY,INWHOLE
HABNORIGHT ORINPART,FORTHEFIRST18MONTHS
OFTHISCOM L , CREDITOR,
SUBJECTTOTHSTERMSHEREOF, THEREQUEST
UPON BYDEBTOR,
WELAMENDANDISODIFYTHEAGREEMENT
80 ABTOALLOW THISCOMMERCIAL
LOANTOBE . INWHOLE OR
THEFIRST18MONTHS.
INPART,AFTER ;.·1,
-,
INTIiEENENT
OFAPREPAYMENT
PERMITTED TERMS
UNDERTHE OFTHISAGREEIENT, 8HALLPAYOUTSTANDING
DEBTOR PRINCIPAL
BøLANCE, I E1iþ- r AM ODPICATION
ACCRUED
ANDAMENDMENT OUTBTANDING
FEESOWED. .3 1.',
FEE,ANDANYOTHER
AUTOMATIC PAYMENT (ACH),ADpayments withIhisNoisshanbemadeInIhelotmof anACHiransferdrecByfromtheQÃdi IW'6ualness
in accordance of anACH
authorizalon
withoul
IheCreditors
pdorwrittenconsent aneventofdatault.
shellbeconsidered Shoted
Dablo3 anACHauthoriz . tl4 conserd
lerminate of . check or other
non-ACH Debtoragreeslo paya sen4ce,
formofpayment, handingandaccounlingexpense
feetoCreditor tornthemakingofa
residling Hpayrpentel.an }p1111een ofthe
percergi(1599
paymentOughdue. DS
NOTE:Please
consult
yourCPAandfor ifyoudonolundeniland
Allemay fle lenna,strudure thisem¶fsDcial
endendtionsreganEng à lo sserr¼1Ò.
I. PROMISSORY NOTE (I haye read and understand that I am execyggg a prom ory Ini )
&
DEFINITIONS
"EquipmenI* paper,*
means allpgoperty
noworsubsequen8y usedorboughttorusebyDublorInIke endallrel3mgfliards, oraddbend or allixed10theproperty. "Chetlel inessments".
"inlangibies"
and'accounts"shanhaveIheeamameaning asdoinedundertheUnilonn CodeoftheStateof shotincludeallaccounts (Induding, a5accommis
withouIImilation, Inceivablet
generalirdangbles gigNsandlar raiunds)
contract
withoutlimitalion,
(including, andaI repossessed goods, (Induding,withoutIIsrdte5on.
lenses)andkistruments,andaBinterests of
DebIorinaIguaranlees, s peements andother Ihe or under
ofobligations 'Proceeds"
foregoing. shan meanpr of characterwhelbercashor
securny p roperty
securing any
non-cash. "Invenlory" meansaI property,partsand=d"" acqided whetheror notattixed InwhichDeblornowhasor maysubsequenny acqmire anyIlghl,5tleor
interest"Accounts receivable"
means aI accounts, draits,orders
agreemerits, noworherenitar
andotherformsofobilgallons received bycr belongingtoDetmor forgoodssoldbyDebtoror
forservicesrendered sonorrenderservices "Goodwil" meansthebenefitOwIheDeMor's business acquimsbeyond themarevalue
byDeblorandallrightsofDebIoreamedor lotié4nraed 'A'
ofitscapitalstockandtangible
assels,asaresultofitsregramupi (I pif propertrAllproperty
14 thefollowing asdescribed onSchedule attached herelo.'AI PropertfinaansaI property
ofeverydeacidpgan.
SECURITY INTEREST, a securtly
DeMorgrantstoCreditor inall leipt lie and ofDeblofInandtoAramunts hstnanents,
Inventory,
Receivables, Equipment, Intangibles, Chattel
Accomuls,
Paper,GoodWE,Spadne andAI Pyopusy
Property (Deblor ill (conoclively. tollateral').TNssecurity
Interest
Isgranted10Creditor andpayment
byDeblortosecureperformance ofan
obligations ofDebtor19.Cf9dllm'aeigshipr
andindebledness ealcel he Debtor toallowcgeditor
agrees toIIeaUCC-1 Stalement
Financing state.
intheeppgopriate
PAYMENT OFOBLIGATIONS OF06 OR.Debler b anysizndueor hat maybecome duepursuant totNsagreement. DebIorshanpaylo CredIoraI amounls dueh lheformofcashand
negonable DeMorshell. IheCoIalaral
inslruments. lo pursuant to3115 agreement InIrustforCleditof andDebtor shaIprompdy tumovertheColleletal toCredIor, andIkeproceeds thereof,
forspplicaUon UfDebtor
againstgg,11tifebledni43 In byCradlor.Thecedarandmethod ofsuchappicalonagainst theIndebtedness Is10beinIhescledissationofCredilor. Debtor shal
payCradlieron fredorpaidby
_ at,eitiejuses)N in orprolecting rights
Itsinterests, andremedles under I Nssecogilyagreement,plus Inlarestonsuch amount atthemaxirnum3egal rate.
DEBTOR'S 15i EltSENTATIONS, AND MENT3L DeMarrepresents, warrants andagrees thatallInformationsuppiledandstatements madebyDebIorInenyIandal, csedB or accoun1ng
statemenIor forcredtprior - - with,crsubsequent lotheexecution ofthissecurity agreement areandshallbeIrue,correct, complete, waIdandgenuine. DeMor autioriIeeCredilor
to91e,
at oplion, anInforma or stalamanist DeblershaB pay ancools of any Illngsof financing statements orotherp apers,D eblershan pay priort o delinquency a5lanes,charges, liens
andasse against 1heColl andon faiuretodoso,CredIoratItsop5on maypayanyofeuchItemsandshallbethesolejudge,asbetween it andDebIor, ofthelegalilyorvendlythereof and
he amotant ry todisdiar Suchpayment shatbecome paltd theindeMedness sectiredbythissecurny agreement andshaIbepaid toCreator immediately andwithout demand, wilhinterest
Hiereonalthe mlegalrate. shall,atat times,keepIheCoIslarel tee frornanyadverse Ian,security orencumbrance
interest, andIngoodorderandrepeltandwiInotweste ordestroy IheCollateral
or anypart Aug.DebIor useotherCanateral Invicingonof anystatuleor ordnance: andCred1or mayexamine andinspedtheCollateral al anylime,wherever loosted.Dublorshotprovide aE
documents necessary _ proledandpreserve Coednor's b he CoIaIeral,
interests indudngproviding a1ilnandngslatements. DebIorshallnot,volunlarBy or involuntariy, subjadIheCoIslalalor its
proceeds,oraIow oritsproceeds lo besubjected ti anyinlarest
of onytansferee, buyer,secured party.encumbrance, levy,execution,attachment, gamighment or INId pastyp erson, D ebtor's
equpment, InventoryandcNefexecutwo ofRces andprincipal placeofbusiness shaIbelocaledattheaddress setforthabove DeblorshallnotifyCreditor prong8yin willingofanychanges in Ihelocalonof
Debtor'sprincipal
placeof business, chiefexecu6ve oilicesor ils equipmentor hventory, includoganyadd1ions anddecentinuances AIIprovisionsof thisFinandog Agreement areincorporated hereinby
reference
andshaIbeconsidered material
terrnsofIhisSecurity Agreement,
EVENTS OFDEFAULT, Intheeventofdefaulttimebeingofhe essence, Uteentireamount ofprincipalthenunpaidandasunpaidintereal shaIbecome Jithout noticeor demand, athe optionofIheCsedtor,
immediatelydueandpayatde.Events ofDefaull shaIindude,
buthotbelimited tothefollowing: (i)Debtor's
fathretopaytimelyanyamount dueunderIhisNote;(a Debtor lilesorhasinstituted
againstDeblerany
or
bankruptcyinsolvency proceedngsormakes anyassignmentforthebenefit ofcredilors;
(ii) Debtor
s ells er
substantially oftheDebtor'sassels,or amatesial change i nthe Debtor, or involunlary
a voluntary
desolutionofOsb1or
ortheIIIngofapolition todissohetheDebtof; (iv)Debior
convrutsflaudormakesanymaterial intiis Note;(v) Debtor
nasrepresentation failsloabideby IhetermsofthisNole; (vi)Deblor
o r
defaulls
enanynote(s) orotheragreernenl(s)Debtor has.or anynole(s)
currently or agmemenl(s) Debtormayhaveinthefulure,withCredilor;(vi0deathofaguarantorIncaseofanyacliontakenandorsuitor
instluledby theCredtoror anydesignee
legalproceeding toenforce thecoIaclion
ofamounts dueundertheFinancing Agreement and/orhe relatedloandocuments executed aNcostsandexpenses
Iberewi1h.
incurred, reasonatde
induding feesandcosts,shaIto paidbyDebtor
athomey andfor Guarantorandshallbecome somuchaddidonal hdebledness assecured by1hisAgreement.
INTEREST
AFTER
DEFAULT.
Upontheoccurrence Creditor
ofanEventofDefault, reserves
therightloincrease rateonthisNolebythemaximuminterest
themterest ratealloweble law.
underapplicable
TIMEISOFTHEESSENCE, Timeisoftheessence hereofupontheoccurrenceofanEventofDefault
hereunder.Credbroritsassigns allnghtsandremedies
frayexercise provided andbylaw
forherein,
indudng,bulnotIÃndled
10,therigittomakeallpdndpal onIhisNoteandallotiersumsunderorinrespect
rernaining dueandpayatfe.
ofIhisNoteammediately presenImenIor
withoutnoticeofdefault, demand
for
ornotice
protest attomers'
paymenI, ofnonpayment ordishonor orothern otices
o rdemands
ofany kindor excepl
character, asspeofiedherein D eblor
agreesb pay eBcostsof any
collecling delinquenI
payments,
indudngreasonatile fees,aspertritted
byapplicatie
Iss.
I.ATEPAYMENT.. mtheeventOebbrfanstopayaIoranyamount lo bepaidhereunder whendue,Debtor wil payCreatora"atecharge equaltoIhelesserof(a)10%ofthepaymentIhatislateand(b)1he
maximum amount permitted
byapplicablelawThelatecharge isnotinterest butratheris afeeLodefrayadministrative
orapenally, costsresdlingfromsuchlatepayment,WAIVER.Debtor herebyveives
noticeofnonpaymerit
presentment, ordishonor riotice
protest. ofprotest,demand andallothernoticesinconnectionwiththadelivery,
acceptance,performance, ofIhisagreement.
orenforcement
defaun The
Credtershallnotbedeemed, byanyactofemission or cornmission,
10havewaived anyofitsfightsorremodes hereunder suchwaiverisinwritingandsignedbysuchholder
unless andthenoffytodieextent
setforthin
speciBcally wrtgag.Awaiver withreferencetooneevent shalln olbeconsIrvedascontintingo rasabarloorwaiver of enyrighto rgernedyastoasubsequentevent.
No delayoremissionoftheCreditor
t>exercise
anyrightwhelber beforeoraneradefaulthereunder, shallimpairanysuchrightorshallbeconstrued lobeawaiverof anysightordefadl,andtheacceptanceatanyImebytheholderhereof of any
pastdueamount. whetherinfulIorinpart.shallnotbedeemed tobeawaiveroftherighttorequire promptpayment whendueof anyotheramounts dueandpayable.
IhenorIberea1Ier
FILED: ONONDAGA COUNTY CLERK 04/11/2024 01:02 PM INDEX NO. 003789/2024
NYSCEF DOC. NO. 2 RECEIVED NYSCEF: 04/11/2024
THIS IS A COPY Page 2 of 3
DocuSign Envelope ID: 7666907D-D93E-44F4-8B22-FEO3AE51517A
This is a copy view of the Authoritative Copy held
TERMINATION. Uponpaymentinfusofallprincipal
andallintereal
asprovided mthisagreement.
misagreement
shallbedeemed cancened andtarnAMii whether
by
acceleration
ormduecourse,
interestshallberecalcdatedovertheaclualsisoftheroanbasedupoptheaneuntsoutslanding,
andifthelotalamountofInterest
theretofore
paidexceedstheamountpermilled
10
Inw.rule.o1regulation
bepaidunderappEsaMe meffectfromtimetoGrne.theexcess credited
shalEbe toPlinogel,
orif suchexcessexceeds thePrincipal
amountduehereunder,relundedtoIheDebtor
DS
II. SECURITY AGREEMENT (I have read and understand I am executing a seCurlty agreeinent and acknowledge
that a UCC-1 Financing Statement will be filed in the appropdate_state INITIAL:)
OTHER REPRESENTATIONS
ASSIGNNENT. theprterwritten
Without onnsent Debtorshallrei salt.leasegr allowanylionothermanCreditors
af r.'redtor, interest
security against anItemofColfateralor assignanyofDebtor s oMiganons
hereunder Debtors oMigations
hereunderarenotassignable oflaw Credtormayatanytirne,* is soledecretion,
byoperaden or otherwise
assign 1ransferthisagreement under
or anyofitsrightsoroMigations
1NsAgreement.wimoutnoncemDebtorIfDeMoris pvennonceofsuchastonment, DeMorshaIacknowledge in wittingandshall
mereceiptoftheassignment t hereafter
payany amounts duehereunder as
e thenolice.Thesightsofmeassignee
direcInd loamounis duehereunder shabbefee of anyclaimordefense Debtormayhaveagainst andDeberknowingly,
Creditor, andintentionaNy
volunlanly agreesto
univeandnolassertagainst anyassigneesanyclaimordefense Deblermayordoeshaveagainst CreditorAl rightsandremedies
ofCredimr maybeassigned, Iransferred
or otherwsedisposedof,either
ki
wholeore part.lo anyperson
ortoDebtor
COMPLIANCE AGREEMENT. ForandinconsideratonoftheCreditoreniedngintoandfunding1hesumssought byDebtor wththesutsect
inconnection Agreement andfor creditfactity,andinconsiderationof
thesubject Debtorageestogaoperate
Iransaction, promptlywithCredler,itsagentsan or assignt.,
intheconoclion oftheloanclosing
orcogspletion if considered
documents. necessary ordesirablebyCredtor
andforitsagents redecltheagreement
andforassignstoaccurately oftheperbes.Debtor understands I'at thismayindudetheexeculon ofareplacement Agreement,a replacement SecurityAgreement, or UCC.
1Financing Statementstoreflecttheageeduponterms, inwhichcaseme¢tedtoragrees loregumtheoriginal ofIhereplaced documentstoDebtor. Debtoracknowledges
Inaddison, thatsomeoraI oftheIcon
closingd ocuments
were ormay have been
executedinadvance ofthedate onwhichthesubject
loanwas funded a ndthat.
a s certain
such, o ftheinbrmation
selbrthontheloan dosing documents freyhave nol
beencomplete. Debtor
agrees toenoperateanthe11ingofanydocumer laserneeded toestabli9ardneintairtheDebtor's ampany,LLC,dbraoranysuchcorporate entityandallows Creditor merighttolilethe
sameonasbehalf
FORM 4506-T:"REQt1ESTFORTRANSCRE'T OFTAXRETURN"fFORM 882S:"TAXINFORMATION AUTHORIZATION". OwingthelarmofthlsAgreementDebtoragreeslhetgpi ofCredier,ils
successors
orassigns,
Detitor forTranscript
wmfumisha signedForm4506-T"Request Authorizallon'.
ofTexRelum'0RForm8821:"Tax1tdormation DeMor
Fiather, acknowledges and its
IhatCreditor,
successors
andaseIgns
havemelightIIAatOedlorsdiscreOon, andreview
request DeMors ofTexReturn
Transqipt Aulhodzallon
orTaxInformalion daingmelarmofthismonalqpcmi loan.
APPLICABLE LAWAIUR3801CTION & VENUEThetermsof1heFinandng Agreernentandanloandocumeals executedherewithshalbegovemed by andconstruedin substanlive
and
pacedure lawsoflhoStoleof Florida,ensusiveofthepginciples oflawitVenueforanyacdonbrought
ofconlBct hereunder.shanbethechoiceofIheCradler, be b County, New
YorkorBroward Counly. of.il
Floride, meacDon involvesorIt against
brought 1heConagaral,in
astatemusti nthe w
county heresuch CoAaleral
islocaled,
where loan Ore asIncr against
1heCollageral,
unlessCredtorselects anallema#ve lorum.Debloragreeslosubmittothepersoned brlsdiction
WIheoppropriate Swt InIheSlateof or Broward
CountyforaAsuchesputesDeterexpressly wolvespersonal ofprocess
service andauthodzes servkaofpmoess a DeMorbyregIsleredmail of bya Itveryservice
sentto DeMor'saddressassetIouthInIkeintroductory paragraphofthIsAgreementorsuchothermarmer asmaybependitededar applkable · ThkDebtor right mayhavem
Iransfer
orchange thevenueofanylingadon broughtagainstDebtorby Credlor.
theright
l ointerpose
anydelense o rmotionb ased
o nForumipm,NarweriensorVenue, punitive
forconsequengal, or
specialdamages
THEDEBTOR ANDALLOTHERSWHOIAAYBECOME LIABLEFORALLORANYPARTOFTHISOBLIGATION, LY MUG4341-Y LIIIVE
ANDRENOUNCETHˆR RIGHTTOA TitIALBY
JURYIN RESPECTTOANYLITIGATION INCLUDING
ORPROCEEDING, BROUGHT
ASTOCOUNTERCLA1tA BY DEBTOIt ANY WHATSOEVER ARISINGFROMTHIS
AGREEMENT,THESECURITY
AGPF8tMFBIT
INCLUDED
HEREDI, DOCUMENTS
ANDANYOTHER ANDAGREEMENT WITH ITTRANSACTMN, INCONTRACT,
INTORTOROTHERwl8E THETERMSOFTHISJURYTRIALWAIVERANDDEBTOR's
AGREEMENTNERETO1SA .d 70 C TOENTER INTOTHISTRANSACTGN.
DEBTOR FURTHER
WAIVESANYRIGHTTOREAMWEANY8TATECOURT COURT--
ACTMNTOFEDERAL
DS
U.haye read argi gnglerstan,d the app_1icable law, jurisdiction nue and waive :)
NOTICE.AnynoncetoQadlorulAbee1lective onlyonMsreceiptbyQasagr-. toDebtormay a sentbymaAing
of givingnoGce lhenolIce,postage
prepald,
byhandÄIeiveryor byretionaly
recognized
ovemighl service
delivery 10to DeMor steinginthta
attheaddress De shaA bedeemed anynoticeposted
tohavereceived onIheendlerofthethird
withtheUntledStatesPostalService
b
(3d) usiness
dayanert he o
ofthenc6ce
posing rthedateofactual
rf5eh 0htie Bf byhandor byovemightdeaveryservka,DeMorshaBbedeemed tohaverecehradanysuchnoUceonthedateof
ofthesame.
actualdeHvery
BINDINGEFFECT.
Thisagreernant
shaAInure10thebenetti (tdbebi offtheheirs,ellac , aghidnIstralers,"ra""=s andassigns
ofIherespedhe sub|ad,however
parlies, against
10therestric1on
assignment
byOebtor.ThesenNinaliNIsowedbyDeMor(s) wÈ . shallbeIbejointan( ralagreement ofaAsignIng.
FURTHER ASSURANCES,. Debbi al poÿanslatefeesandlanes(indudngbutnotlindledto,appropstale stateDocumentaryStanips) 10perfect,
necessary pmtectandpreserve
Creditor's
rightsandInlarest
asset eiisF , Including
providingasAnandng slatements andottersimilardocuments.DebtorshanprovideCredtorwithaAAnandal inform1r.ion
and
slatements
withinten(10)daysof ywarsmVdele F AgreementorwithinIhirty(30)days forBiesamebyCredimr
otwrillenrequest troughoutthetermofthisFinancing
Agreement
COMMERCIAL TR INACTlDN, De hereby andrepresentslhelIhisis a commercial Iransedian,IhattheDeMaris in tacta business,
andthatannecessary permils,
licenses.
regis1re6ons
and rupebeenIIInd
agcurgeftenums properEmorltles,suchIhatIhebusiness is Incorrpflance Debtordoeshereby
Preview
FILED: ONONDAGA COUNTY CLERK 04/11/2024 01:02 PM INDEX NO. 003789/2024 NYSCEF DOC. NO. 2 RECEIVED NYSCEF: 04/11/2024 "A" Exhibit Promissory Note/Security Agreement/Personal Guaranty FILED: ONONDAGA COUNTY CLERK 04/11/2024 01:02 PM INDEX NO. 003789/2024 NYSCEF DOC. NO. 2 RECEIVED NYSCEF: 04/11/2024 THIS IS A COPY Page 1 CI 3 DOCuSignEnvelope ID: 76669C7D-D93E-44F4-8B22-FED3AE51517A This In a COpy view Of the Authoritative Copy held AGREEMENT FINANCING (t.ImitedLlabilityCompany (LLC)) by the designated custodian PROMISSORY NOTEISECURITY AGREEMENT/PERSONAL GUARANTY Agreenent No.. 1083210 COMPLETE NAMEANDADDRESS OF COIiPLETE OFGUARANTOR NAMEANDADDRESS NAMEANDADDRESS COMPLETE OFDEBTOR CREDITOR Bankers Healthcare Group,LLC JamiMorrisJohnson TransportServices Advantage LLC 10234 Road84 W Stage 5280MeadeStreet 5380ZuniStreet,Usit5B DarleFL33324 CO80221 Denver, Denver,CO80221 (800)900-8401 ThedaleofthisPromissory AgreemenVPersonal NotefSecurity Guaranly isthedateofexecution "Agreement*) (collectively areasreneded andlheiraddresses notedbelow,Theparties above. FORCOMMERCIAL PURPOSES ANDVALUERECENED, Detner doeshereby promiseto payto Creditoror ItsOrder,at theaddresslistedaboveor atsuchotherlocationasotherwisedesignated by Creditor,metotalsumof Eighty-Eight Thousand, ThreeHundredForty-SIx DOLLARS andSixteenCENTS ($88,346,16).whichrepresents thetotalofpayments plusinleresIdueandwhichwill ofprincipal become duehereundertomthedateofthisAgreement whichsumsshallbepayable untilto malurilydateofthisAgreement, in rrenthlyinstallrnants, assetforthintheAddendum whichis 4ncorporated herelo, hereinbythisreference lo One Inaddition totalsumofpayments Deblordoesherebyproniseto payinterestpayable computed dailyontheoutstandng principal balanceofIheAgreement determñad asofthe doseofbusiness oneachdaycommendng onthefundngdateanduplo one(1)monthpriortothelirstpayment dale. Intesim vel bedueandpaystAs whenapplicable. interest, onemonlhpnorimIheIrst scheduled payment Inonthly andwillbededuded fromIhearnountfundedtotheDebtor PA1fMENT(8) INTHEAMOUNT OF BEGBINING ON THE PAYMENTCOIIBIENCEMENT DATE WILL BE 84 $1,05074 REFLECTED ONTHERECORDED VERIFICATION VERBAL FORIWL I PREPAYMENT:PURSUANTTOTHETERMSOFTHISNOTE, DEBTOR TOPISPAY,INWHOLE HABNORIGHT ORINPART,FORTHEFIRST18MONTHS OFTHISCOM L , CREDITOR, SUBJECTTOTHSTERMSHEREOF, THEREQUEST UPON BYDEBTOR, WELAMENDANDISODIFYTHEAGREEMENT 80 ABTOALLOW THISCOMMERCIAL LOANTOBE . INWHOLE OR THEFIRST18MONTHS. INPART,AFTER ;.·1, -, INTIiEENENT OFAPREPAYMENT PERMITTED TERMS UNDERTHE OFTHISAGREEIENT, 8HALLPAYOUTSTANDING DEBTOR PRINCIPAL BøLANCE, I E1iþ- r AM ODPICATION ACCRUED ANDAMENDMENT OUTBTANDING FEESOWED. .3 1.', FEE,ANDANYOTHER AUTOMATIC PAYMENT (ACH),ADpayments withIhisNoisshanbemadeInIhelotmof anACHiransferdrecByfromtheQÃdi IW'6ualness in accordance of anACH authorizalon withoul IheCreditors pdorwrittenconsent aneventofdatault. shellbeconsidered Shoted Dablo3 anACHauthoriz . tl4 conserd lerminate of . check or other non-ACH Debtoragreeslo paya sen4ce, formofpayment, handingandaccounlingexpense feetoCreditor tornthemakingofa residling Hpayrpentel.an }p1111een ofthe percergi(1599 paymentOughdue. DS NOTE:Please consult yourCPAandfor ifyoudonolundeniland Allemay fle lenna,strudure thisem¶fsDcial endendtionsreganEng à lo sserr¼1Ã’. I. PROMISSORY NOTE (I haye read and understand that I am execyggg a prom ory Ini ) & DEFINITIONS "EquipmenI* paper,* means allpgoperty noworsubsequen8y usedorboughttorusebyDublorInIke endallrel3mgfliards, oraddbend or allixed10theproperty. "Chetlel inessments". "inlangibies" and'accounts"shanhaveIheeamameaning asdoinedundertheUnilonn CodeoftheStateof shotincludeallaccounts (Induding, a5accommis withouIImilation, Inceivablet generalirdangbles gigNsandlar raiunds) contract withoutlimitalion, (including, andaI repossessed goods, (Induding,withoutIIsrdte5on. lenses)andkistruments,andaBinterests of DebIorinaIguaranlees, s peements andother Ihe or under ofobligations 'Proceeds" foregoing. shan meanpr of characterwhelbercashor securny p roperty securing any non-cash. "Invenlory" meansaI property,partsand=d"" acqided whetheror notattixed InwhichDeblornowhasor maysubsequenny acqmire anyIlghl,5tleor interest"Accounts receivable" means aI accounts, draits,orders agreemerits, noworherenitar andotherformsofobilgallons received bycr belongingtoDetmor forgoodssoldbyDebtoror forservicesrendered sonorrenderservices "Goodwil" meansthebenefitOwIheDeMor's business acquimsbeyond themarevalue byDeblorandallrightsofDebIoreamedor lotié4nraed 'A' ofitscapitalstockandtangible assels,asaresultofitsregramupi (I pif propertrAllproperty 14 thefollowing asdescribed onSchedule attached herelo.'AI PropertfinaansaI property ofeverydeacidpgan. SECURITY INTEREST, a securtly DeMorgrantstoCreditor inall leipt lie and ofDeblofInandtoAramunts hstnanents, Inventory, Receivables, Equipment, Intangibles, Chattel Accomuls, Paper,GoodWE,Spadne andAI Pyopusy Property (Deblor ill (conoclively. tollateral').TNssecurity Interest Isgranted10Creditor andpayment byDeblortosecureperformance ofan obligations ofDebtor19.Cf9dllm'aeigshipr andindebledness ealcel he Debtor toallowcgeditor agrees toIIeaUCC-1 Stalement Financing state. intheeppgopriate PAYMENT OFOBLIGATIONS OF06 OR.Debler b anysizndueor hat maybecome duepursuant totNsagreement. DebIorshanpaylo CredIoraI amounls dueh lheformofcashand negonable DeMorshell. IheCoIalaral inslruments. lo pursuant to3115 agreement InIrustforCleditof andDebtor shaIprompdy tumovertheColleletal toCredIor, andIkeproceeds thereof, forspplicaUon UfDebtor againstgg,11tifebledni43 In byCradlor.Thecedarandmethod ofsuchappicalonagainst theIndebtedness Is10beinIhescledissationofCredilor. Debtor shal payCradlieron fredorpaidby _ at,eitiejuses)N in orprolecting rights Itsinterests, andremedles under I Nssecogilyagreement,plus Inlarestonsuch amount atthemaxirnum3egal rate. DEBTOR'S 15i EltSENTATIONS, AND MENT3L DeMarrepresents, warrants andagrees thatallInformationsuppiledandstatements madebyDebIorInenyIandal, csedB or accoun1ng statemenIor forcredtprior - - with,crsubsequent lotheexecution ofthissecurity agreement areandshallbeIrue,correct, complete, waIdandgenuine. DeMor autioriIeeCredilor to91e, at oplion, anInforma or stalamanist DeblershaB pay ancools of any Illngsof financing statements orotherp apers,D eblershan pay priort o delinquency a5lanes,charges, liens andasse against 1heColl andon faiuretodoso,CredIoratItsop5on maypayanyofeuchItemsandshallbethesolejudge,asbetween it andDebIor, ofthelegalilyorvendlythereof and he amotant ry todisdiar Suchpayment shatbecome paltd theindeMedness sectiredbythissecurny agreement andshaIbepaid toCreator immediately andwithout demand, wilhinterest Hiereonalthe mlegalrate. shall,atat times,keepIheCoIslarel tee frornanyadverse Ian,security orencumbrance interest, andIngoodorderandrepeltandwiInotweste ordestroy IheCollateral or anypart Aug.DebIor useotherCanateral Invicingonof anystatuleor ordnance: andCred1or mayexamine andinspedtheCollateral al anylime,wherever loosted.Dublorshotprovide aE documents necessary _ proledandpreserve Coednor's b he CoIaIeral, interests indudngproviding a1ilnandngslatements. DebIorshallnot,volunlarBy or involuntariy, subjadIheCoIslalalor its proceeds,oraIow oritsproceeds lo besubjected ti anyinlarest of onytansferee, buyer,secured party.encumbrance, levy,execution,attachment, gamighment or INId pastyp erson, D ebtor's equpment, InventoryandcNefexecutwo ofRces andprincipal placeofbusiness shaIbelocaledattheaddress setforthabove DeblorshallnotifyCreditor prong8yin willingofanychanges in Ihelocalonof Debtor'sprincipal placeof business, chiefexecu6ve oilicesor ils equipmentor hventory, includoganyadd1ions anddecentinuances AIIprovisionsof thisFinandog Agreement areincorporated hereinby reference andshaIbeconsidered material terrnsofIhisSecurity Agreement, EVENTS OFDEFAULT, Intheeventofdefaulttimebeingofhe essence, Uteentireamount ofprincipalthenunpaidandasunpaidintereal shaIbecome Jithout noticeor demand, athe optionofIheCsedtor, immediatelydueandpayatde.Events ofDefaull shaIindude, buthotbelimited tothefollowing: (i)Debtor's fathretopaytimelyanyamount dueunderIhisNote;(a Debtor lilesorhasinstituted againstDeblerany or bankruptcyinsolvency proceedngsormakes anyassignmentforthebenefit ofcredilors; (ii) Debtor s ells er substantially oftheDebtor'sassels,or amatesial change i nthe Debtor, or involunlary a voluntary desolutionofOsb1or ortheIIIngofapolition todissohetheDebtof; (iv)Debior convrutsflaudormakesanymaterial intiis Note;(v) Debtor nasrepresentation failsloabideby IhetermsofthisNole; (vi)Deblor o r defaulls enanynote(s) orotheragreernenl(s)Debtor has.or anynole(s) currently or agmemenl(s) Debtormayhaveinthefulure,withCredilor;(vi0deathofaguarantorIncaseofanyacliontakenandorsuitor instluledby theCredtoror anydesignee legalproceeding toenforce thecoIaclion ofamounts dueundertheFinancing Agreement and/orhe relatedloandocuments executed aNcostsandexpenses Iberewi1h. incurred, reasonatde induding feesandcosts,shaIto paidbyDebtor athomey andfor Guarantorandshallbecome somuchaddidonal hdebledness assecured by1hisAgreement. INTEREST AFTER DEFAULT. Upontheoccurrence Creditor ofanEventofDefault, reserves therightloincrease rateonthisNolebythemaximuminterest themterest ratealloweble law. underapplicable TIMEISOFTHEESSENCE, Timeisoftheessence hereofupontheoccurrenceofanEventofDefault hereunder.Credbroritsassigns allnghtsandremedies frayexercise provided andbylaw forherein, indudng,bulnotIÃndled 10,therigittomakeallpdndpal onIhisNoteandallotiersumsunderorinrespect rernaining dueandpayatfe. ofIhisNoteammediately presenImenIor withoutnoticeofdefault, demand for ornotice protest attomers' paymenI, ofnonpayment ordishonor orothern otices o rdemands ofany kindor excepl character, asspeofiedherein D eblor agreesb pay eBcostsof any collecling delinquenI payments, indudngreasonatile fees,aspertritted byapplicatie Iss. I.ATEPAYMENT.. mtheeventOebbrfanstopayaIoranyamount lo bepaidhereunder whendue,Debtor wil payCreatora"atecharge equaltoIhelesserof(a)10%ofthepaymentIhatislateand(b)1he maximum amount permitted byapplicablelawThelatecharge isnotinterest butratheris afeeLodefrayadministrative orapenally, costsresdlingfromsuchlatepayment,WAIVER.Debtor herebyveives noticeofnonpaymerit presentment, ordishonor riotice protest. ofprotest,demand andallothernoticesinconnectionwiththadelivery, acceptance,performance, ofIhisagreement. orenforcement defaun The Credtershallnotbedeemed, byanyactofemission or cornmission, 10havewaived anyofitsfightsorremodes hereunder suchwaiverisinwritingandsignedbysuchholder unless andthenoffytodieextent setforthin speciBcally wrtgag.Awaiver withreferencetooneevent shalln olbeconsIrvedascontintingo rasabarloorwaiver of enyrighto rgernedyastoasubsequentevent. No delayoremissionoftheCreditor t>exercise anyrightwhelber beforeoraneradefaulthereunder, shallimpairanysuchrightorshallbeconstrued lobeawaiverof anysightordefadl,andtheacceptanceatanyImebytheholderhereof of any pastdueamount. whetherinfulIorinpart.shallnotbedeemed tobeawaiveroftherighttorequire promptpayment whendueof anyotheramounts dueandpayable. IhenorIberea1Ier FILED: ONONDAGA COUNTY CLERK 04/11/2024 01:02 PM INDEX NO. 003789/2024 NYSCEF DOC. NO. 2 RECEIVED NYSCEF: 04/11/2024 THIS IS A COPY Page 2 of 3 DocuSign Envelope ID: 7666907D-D93E-44F4-8B22-FEO3AE51517A This is a copy view of the Authoritative Copy held TERMINATION. Uponpaymentinfusofallprincipal andallintereal asprovided mthisagreement. misagreement shallbedeemed cancened andtarnAMii whether by acceleration ormduecourse, interestshallberecalcdatedovertheaclualsisoftheroanbasedupoptheaneuntsoutslanding, andifthelotalamountofInterest theretofore paidexceedstheamountpermilled 10 Inw.rule.o1regulation bepaidunderappEsaMe meffectfromtimetoGrne.theexcess credited shalEbe toPlinogel, orif suchexcessexceeds thePrincipal amountduehereunder,relundedtoIheDebtor DS II. SECURITY AGREEMENT (I have read and understand I am executing a seCurlty agreeinent and acknowledge that a UCC-1 Financing Statement will be filed in the appropdate_state INITIAL:) OTHER REPRESENTATIONS ASSIGNNENT. theprterwritten Without onnsent Debtorshallrei salt.leasegr allowanylionothermanCreditors af r.'redtor, interest security against anItemofColfateralor assignanyofDebtor s oMiganons hereunder Debtors oMigations hereunderarenotassignable oflaw Credtormayatanytirne,* is soledecretion, byoperaden or otherwise assign 1ransferthisagreement under or anyofitsrightsoroMigations 1NsAgreement.wimoutnoncemDebtorIfDeMoris pvennonceofsuchastonment, DeMorshaIacknowledge in wittingandshall mereceiptoftheassignment t hereafter payany amounts duehereunder as e thenolice.Thesightsofmeassignee direcInd loamounis duehereunder shabbefee of anyclaimordefense Debtormayhaveagainst andDeberknowingly, Creditor, andintentionaNy volunlanly agreesto univeandnolassertagainst anyassigneesanyclaimordefense Deblermayordoeshaveagainst CreditorAl rightsandremedies ofCredimr maybeassigned, Iransferred or otherwsedisposedof,either ki wholeore part.lo anyperson ortoDebtor COMPLIANCE AGREEMENT. ForandinconsideratonoftheCreditoreniedngintoandfunding1hesumssought byDebtor wththesutsect inconnection Agreement andfor creditfactity,andinconsiderationof thesubject Debtorageestogaoperate Iransaction, promptlywithCredler,itsagentsan or assignt., intheconoclion oftheloanclosing orcogspletion if considered documents. necessary ordesirablebyCredtor andforitsagents redecltheagreement andforassignstoaccurately oftheperbes.Debtor understands I'at thismayindudetheexeculon ofareplacement Agreement,a replacement SecurityAgreement, or UCC. 1Financing Statementstoreflecttheageeduponterms, inwhichcaseme¢tedtoragrees loregumtheoriginal ofIhereplaced documentstoDebtor. Debtoracknowledges Inaddison, thatsomeoraI oftheIcon closingd ocuments were ormay have been executedinadvance ofthedate onwhichthesubject loanwas funded a ndthat. a s certain such, o ftheinbrmation selbrthontheloan dosing documents freyhave nol beencomplete. Debtor agrees toenoperateanthe11ingofanydocumer laserneeded toestabli9ardneintairtheDebtor's ampany,LLC,dbraoranysuchcorporate entityandallows Creditor merighttolilethe sameonasbehalf FORM 4506-T:"REQt1ESTFORTRANSCRE'T OFTAXRETURN"fFORM 882S:"TAXINFORMATION AUTHORIZATION". OwingthelarmofthlsAgreementDebtoragreeslhetgpi ofCredier,ils successors orassigns, Detitor forTranscript wmfumisha signedForm4506-T"Request Authorizallon'. ofTexRelum'0RForm8821:"Tax1tdormation DeMor Fiather, acknowledges and its IhatCreditor, successors andaseIgns havemelightIIAatOedlorsdiscreOon, andreview request DeMors ofTexReturn Transqipt Aulhodzallon orTaxInformalion daingmelarmofthismonalqpcmi loan. APPLICABLE LAWAIUR3801CTION & VENUEThetermsof1heFinandng Agreernentandanloandocumeals executedherewithshalbegovemed by andconstruedin substanlive and pacedure lawsoflhoStoleof Florida,ensusiveofthepginciples oflawitVenueforanyacdonbrought ofconlBct hereunder.shanbethechoiceofIheCradler, be b County, New YorkorBroward Counly. of.il Floride, meacDon involvesorIt against brought 1heConagaral,in astatemusti nthe w county heresuch CoAaleral islocaled, where loan Ore asIncr against 1heCollageral, unlessCredtorselects anallema#ve lorum.Debloragreeslosubmittothepersoned brlsdiction WIheoppropriate Swt InIheSlateof or Broward CountyforaAsuchesputesDeterexpressly wolvespersonal ofprocess service andauthodzes servkaofpmoess a DeMorbyregIsleredmail of bya Itveryservice sentto DeMor'saddressassetIouthInIkeintroductory paragraphofthIsAgreementorsuchothermarmer asmaybependitededar applkable · ThkDebtor right mayhavem Iransfer orchange thevenueofanylingadon broughtagainstDebtorby Credlor. theright l ointerpose anydelense o rmotionb ased o nForumipm,NarweriensorVenue, punitive forconsequengal, or specialdamages THEDEBTOR ANDALLOTHERSWHOIAAYBECOME LIABLEFORALLORANYPARTOFTHISOBLIGATION, LY MUG4341-Y LIIIVE ANDRENOUNCETHˆR RIGHTTOA TitIALBY JURYIN RESPECTTOANYLITIGATION INCLUDING ORPROCEEDING, BROUGHT ASTOCOUNTERCLA1tA BY DEBTOIt ANY WHATSOEVER ARISINGFROMTHIS AGREEMENT,THESECURITY AGPF8tMFBIT INCLUDED HEREDI, DOCUMENTS ANDANYOTHER ANDAGREEMENT WITH ITTRANSACTMN, INCONTRACT, INTORTOROTHERwl8E THETERMSOFTHISJURYTRIALWAIVERANDDEBTOR's AGREEMENTNERETO1SA .d 70 C TOENTER INTOTHISTRANSACTGN. DEBTOR FURTHER WAIVESANYRIGHTTOREAMWEANY8TATECOURT COURT-- ACTMNTOFEDERAL DS U.haye read argi gnglerstan,d the app_1icable law, jurisdiction nue and waive :) NOTICE.AnynoncetoQadlorulAbee1lective onlyonMsreceiptbyQasagr-. toDebtormay a sentbymaAing of givingnoGce lhenolIce,postage prepald, byhandÄIeiveryor byretionaly recognized ovemighl service delivery 10to DeMor steinginthta attheaddress De shaA bedeemed anynoticeposted tohavereceived onIheendlerofthethird withtheUntledStatesPostalService b (3d) usiness dayanert he o ofthenc6ce posing rthedateofactual rf5eh 0htie Bf byhandor byovemightdeaveryservka,DeMorshaBbedeemed tohaverecehradanysuchnoUceonthedateof ofthesame. actualdeHvery BINDINGEFFECT. Thisagreernant shaAInure10thebenetti (tdbebi offtheheirs,ellac , aghidnIstralers,"ra""=s andassigns ofIherespedhe sub|ad,however parlies, against 10therestric1on assignment byOebtor.ThesenNinaliNIsowedbyDeMor(s) wÈ . shallbeIbejointan( ralagreement ofaAsignIng. FURTHER ASSURANCES,. Debbi al poÿanslatefeesandlanes(indudngbutnotlindledto,appropstale stateDocumentaryStanips) 10perfect, necessary pmtectandpreserve Creditor's rightsandInlarest asset eiisF , Including providingasAnandng slatements andottersimilardocuments.DebtorshanprovideCredtorwithaAAnandal inform1r.ion and slatements withinten(10)daysof ywarsmVdele F AgreementorwithinIhirty(30)days forBiesamebyCredimr otwrillenrequest troughoutthetermofthisFinancing Agreement COMMERCIAL TR INACTlDN, De hereby andrepresentslhelIhisis a commercial Iransedian,IhattheDeMaris in tacta business, andthatannecessary permils, licenses. regis1re6ons and rupebeenIIInd agcurgeftenums properEmorltles,suchIhatIhebusiness is Incorrpflance Debtordoeshereby