EX1A-6 MAT CTRCT 14 ea025672201ex6-3_modern.htm INTEREST BEARING PROMISSORY NOTE PAYABLE BY URBAN MINING INTERNATIONAL INC. TO BASIL BOTHA DATED JULY 15, 2021

Exhibit 6.3

 

INTEREST BEARING PROMISSORY NOTE

 

Principal: US$28,000.00 DUE ON MATURITY DATE

 

FOR VALUE RECEIVED, the undersigned hereby acknowledges itself indebted and promises to pay to or to the order of Basil Roy Botha (the “Holder”) the principal sum of US$28,000.00 (the “Principal”) in lawful money of the United States at the head office of the Holder, which sum shall be payable on the earlier of: (i) the date on which the undersigned (or its affiliate) completes the Going Public Transaction. and (ii) November 01, 2021 (such earlier date, herein referred to as the “Maturity Date”).

 

Interest shall be payable on the Principal of this promissory note at the rate of one percent (1%) per month, compounded monthly. Interest as aforesaid shall accrue and be payable both before and after the Maturity Date, default and judgment, with interest on overdue interest at the aforesaid rate.

 

The undersigned may prepay the Principal in whole or in part at any time or from time to time without notice, penalty or bonus. All payments received under this promissory note shall be applied first in satisfaction of any accrued but unpaid interest and then against any outstanding Principal.

 

The undersigned hereby waives the benefits of division and discussion, demand and presentment for payment, notice of non-payment, protest and notice of protest of this promissory note.

 

This promissory note shall be governed by the laws of the Province of British Columbia and the laws of Canada applicable hereof and shall not be changed, modified, discharged or cancelled orally or in any manner other than by agreement in writing signed by the Holder, its successors or assigns.

 

IN WITNESS WHEREOF the undersigned has executed this promissory note as of the 15 day of July, 2021.

 

  URBAN MINING INTERNATIONAL INC.
 

 

  Per: /s/ Mark Zorko
    Mark Zorko
    Authorized Signing Officer