Back to top

PROMISSORY NOTE

Promissory Note

PROMISSORY NOTE | Document Parties: TASKER CAPITAL CORP | Pharlo Citrus Technologies, Inc You are currently viewing:
This Promissory Note involves

TASKER CAPITAL CORP | Pharlo Citrus Technologies, Inc

. RealDealDocs™ contains millions of easily searchable legal documents and clauses from top law firms. Search for free - click here.
Title: PROMISSORY NOTE
Governing Law: Connecticut     Date: 4/15/2005

PROMISSORY NOTE, Parties: tasker capital corp , pharlo citrus technologies  inc
50 of the Top 250 law firms use our Products every day

 

THIS NOTE HAS NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED,

OR THE SECURITIES LAWS OF ANY STATE AND MAY NOT BE SOLD, TRANSFERRED, OR

OTHERWISE DISPOSED OF EXCEPT PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT

UNDER SUCH ACT AND APPLICABLE STATE SECURITIES LAWS OR PURSUANT TO AN APPLICABLE

EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF SUCH ACT AND SUCH LAWS.

 

                                 PROMISSORY NOTE

 

Danbury, Connecticut                                    Original Principal Amount

November 12, 2004                                                     $100,000.00

 

FOR VALUE RECEIVED, Pharlo Citrus Technologies, Inc. of 433 Moore Park Lane,

Merritt Island, Florida 32952 ("Borrower") promises to pay to the order of

TASKER CAPITAL CORP., a Nevada corporation ("Tasker"), the principal amount of

one hundred thousand dollars (US $100,000.00) (such amount, the "Principal"),

and any and all other sums which may be owing to Tasker by Borrower under this

Promissory Note (this "Note"), in the manner set forth in Section 3, subject to

acceleration and/or extension as herein provided. The following terms and

conditions shall apply to this Note:

 

      1. Interest Rate. Interest shall accrue on the unpaid principal balance of

this Note at a rate equal to zero (the "Interest Rate") percent per annum

[compounded semi-annually in arrears on the first business day of each fiscal

half-year] until June 1, 2005 after which the interest rate shall become seven

percent (7 %). Interest shall be calculated on the basis of a three hundred

sixty day year and the actual number of days elapsed. Subject to applicable law,

any past due payment of interest of principal hereunder shall bear interest,

from the date such amount was due until properly paid, payable on demand in

immediately available funds, at a rate equal to the sum of (a) the Interest Rate

plus (b) four percent (4%) per annum. In the event that any interest rate

provided for herein shall be determined to be unlawful, such interest rate shall

be computed at the highest rate permitted by applicable law. Any payment by

Borrower of any interest amount in excess of that permitted by law shall be

considered a mistake, with the excess being applied to the Principal without

prepayment premium or penalty.

 

      2. Term. The term of this Note shall be for a period


 
SITE SEARCH

AGREEMENTS / CONTRACTS

Document Title:

Entire Document: (optional)

Governing Law:(optional)


Try our advanced search >>
 

CLAUSES

Search Contract Clauses >>

Browse Contract Clause Library>>

Get Email Updates
Email:
This is only a partial view of this document. We have millions of legal documents and clauses drafted by top law firms. learn more search for free browse for free learn more