EX1A-6 MAT CTRCT 8 ronn_ex61.htm PROMISSORY NOTE ronn_ex61.htm

EXHIBIT 6.1

 

Unsecured Promissory Note

 

Principal Amount: $25,000.00

 

Date: January 5, 2013

 

Borrower:

Ronn Motor Grouo,Inc.

1677 Park Road 36. #120

Graford,Texas 76449

(''Borrower'')

 

 

Lender:

Ronn Maxwell

1677 Park Road 36 # 120

Graford,Texas 76449 (''Lender'')

 

I.Promise to Pay

 

For value received,the undersigned hereby Borrower agrees to pay Lender the total amount of $25,000.00. This is a non-interest bearing note.

 

This note shall be due and payable on January 5,2016 (36 months). Payment will be delivered to Lender to 1677 Park Road 36. #120 Graford, TX 76449 or other address mutually agreed upon both parties.

 

II.Repayment

 

The amount owed under this Promissory Note will be repaid at maturity.

 

III.Late Payment Fees

 

There are no late payment fees to be assessed.

 

IV.Additional Costs

 

In case of default in the payment of any principal or interest of this Promissory Note,Borrower will pay to Lender such further amount as will be sufficient to cover the cost and expenses of collection,including,without limitation, reasonable attorney's fees, expenses,and disbursements. These costs will be added to the outstanding principal and will become immediately due.

 

V.Transfer of the Promissory Note

 

Borrower hereby waives any notice of the transfer of this Note by Lender or by any subsequent holder of this Note,agrees to remain bound by the terms of this Note subsequent to any transfer,and agrees that the terms of this Note may be fully enforced by any subsequent holder of this Note.

 

VI.Amendment;Modification;Waiver

 

No amendment, modification or waiver of any provision of this Promissory Note or consent to departure therefrom shall be effective unless by written agreement signed by both Borrower and Lender.

 

 
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VII.Successors

 

The terms and conditions of this Promissory Note shall inure to the benefit of and be binding jointly and severally upon the successors, assigns, heirs, survivors and personal representatives of Borrower and shall inure to the benefit of any holder, its legal representatives, successors and assigns.

 

VIII.Breach of Promissory Note

 

No breach of any provision of this Promissory Note shall be deemed waived unless it is waived in writing. No course of dealing and no delay on the part of Lender in exercising any right will operate as a waiver thereof or otherwise prejudice Lender's rights, powers, or remedies. No right, power, or remedy conferred by this Promissory Note upon Lender will be exclusive of any other rights, power, or remedy referred to in this Note, or now or hereafter available at law, in equity, by statute, or otherwise.

 

IX.Governing Law

 

The validity, construction and performance of this Promissory Note will be governed by the laws of Texas, excluding that body of law pertaining to conflicts of law. Borrower hereby waives presentment, notice of non-payment, notice of dishonor, protest, demand and diligence.

 

The parties hereby indicate by their signatures below that they have read and agree with the terms and conditions of this agreement in its entirety.

 

 

 

Date:Ol/05/2013

 

 

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