50 of the Top 250 law firms use our Products every day
|
|
USD$250,000
|
|
San Diego, California
|
|
|
|
January ___, 2009
|
PROMISSORY NOTE FOR VALUE
RECEIVED, Ethos Environmental, Inc., a Nevada corporation (the
“Payor”) hereby unconditionally promises to pay to the
order of Dick F. Chase (the “Payee”), the principal
amount of TWO HUNDRED FIFTY THOUSAND DOLLARS ($250,000). All
amounts payable hereunder shall be payable to Payee in United
States dollars at such bank account as shall be designated by the
Payee in immediately available funds or as otherwise specified to
Payor in writing. The principal amount is due and payable on
December 31, 2009 (the “Maturity Date”).
INTEREST RATE: The Promissory
Note (the “Note”) shall bear interest an annual
rate of 12% payable monthly in arrears and be payable in monthly
installments of two thousand five hundred dollars ($2500.00)
beginning January 1, 2009 and continuing the Maturity Date.
BORROWER'S PRE-PAYMENT
RIGHT: Payor may at any time and from time to time
prepay the principal amount, in whole or in part, without premium
or penalty. PLACE FOR PAYMENT.
Borrower promises to pay to the order of Payee at the place for
payment and according to the terms for payment the principal amount
plus interest at the rates stated above. All unpaid amounts shall
be due by t
|