EX1A-3 HLDRS RTS 10 groestate_ex0305.htm PROMISSORY NOTE BETWEEN THE COMPANY AND AMBERCLOUD

Exhibit 3.5

 

ONE YEAR PROMISSORY NOTE

 

Date: 5/1/26

 

Principal Amount: $182,000.00

 

Parties

 

Lender: GroEstate I, LLC (“GroEstate”)

 

Borrower: Amber Cloud, NV (“Amber”)

 

1.Principal and Interest

 

For value received, AMBER promises to pay GroEstate the principal sum of $182,000.00, together with interest thereon at the rate of 10% per annum, payable quarterly in arrears.

 

2.Term

 

This Note shall mature one (1) year from the date hereof (the “Maturity Date”). On the

 

Maturity Date, all unpaid principal and accrued but unpaid interest shall be immediately due and payable.

 

3.Use of Funds

 

The proceeds of this Note shall be used by Amber solely for the purchase of growing equipment such as lights and greenhouse equipment for Jones Farms.

 

4.Conversion

 

This Note, together with accrued interest, may be incorporated into and converted under a contemplated financing to be provided by GroEstate to Amber for the purchase of growing equipment and/or working capital purposes, upon terms mutually acceptable to both parties.

 

5.Collateral

 

This Note shall be secured by the assets of Amber.

 

6.Default

 

If Amber fails to make any payment when due, or otherwise defaults under the terms of this Note, GroEstate may declare the entire unpaid principal and accrued interest immediately due and payable.

 

7.Governing Law

 

This Note shall be governed by and construed in accordance with the laws of the State of Delaware.

 

 

 

 

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8.Signatures

 

 

 

Lender: GroEstate LLC.

 

 

By: /s/ Dean Medwid

 

Name: Dean Medwid

 

Title: Chief Executive Officer

 

 

 

 

Borrower: Amber Cloud NV

 

 

By: /s/ Madison Cope

 

Name: Madison Cope

 

Title: Managing Member

 

 

 

 

 

 

 

 

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