Standard Promissory Note
1. THE PARTIES, On February 10 2023, Dynasty Alliance Grow, Inc, of 8832 Ramona Street, Bellflower, CA 90706 with Berenice Cristerna acting as President, referred to as the "Borrower", y1 �l y3 HAS RECEIVED AND PROMISES TO PAY: �
Two (2) individuals known as James Henry Martinez & James Henry Martinez Jr of 4651 Fairhope Drive, La Mirada, California 90638, referred to as the "Lender", the sum of $?70,A8G-W U.S. Dollars, referred to as the "Borrowed Money", with interest accruing on the unpaid balance at a rate of 7 percent (%) per annum, referred to as the "Interest Rate", beginning on March 1 2023 under the following terms and conditions:
2. PAYMENTS. The full balance of this Note, including any accrued interest and late fees, is due and payable on September 1 2024, referred to as the "Due Date". The Borrowed Money shall be repaid via installments every month in the following schedule:
The Borrowed Money shall be repaid via equal installments on the Twenty-Flfth (25th) of every month beginning on March 1 2023 with any remaining balance payable on the Due Date.
In Addition, we will also accept goods valued at a minimum of $1000.00 per pound, if the value of the goods were to rise then we would need to see verifiable proof in order to honor a higher price. We have also agreed upon a minimum of 5k, a combination of "Borrowed Money" and goods, to be transferred to the Lenders every cycle until the full balance of the note has been paid. 3_ SECURITY. This shall be secured under the following:
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The Borrower agrees to provide the full maturity of the loan valued at $270.000-O80 U.S. Dollars from '— Property: 8832 Ramona Street, Bellflower, CA 90706, referred to as the "Security", which shall transfer to the possession and ownership of the Lender IMMEDIATELY if this Note should be in default. The Security may not be sold or transferred with the Lender's consent during the course of the Note. If the Borrower breaches this provision, the Lender may declare all sums due under this Note immediately due and payable, unless prohibited by applicable law.
If the Borrower defaults under this Note the Lender shall have the right to obtain ownership and possession of the Security. The Lender shall have the sole option to accept it as full payment for the Borrowed Money without further liabilities or obligations. If the market value of the Security does not exceed the Borrowed Money, the Borrower shall remain liable for the balance due while accruing interest at the maximum rate allowed by Law
4. INTEREST DUE IN THE EVENT OF DEFAULT. In the event the Borrower fails to pay the note in full on the Due Date, the unpaid balance principal shall accrue interest at the maximum rate allowed by law until the Borrower is no longer in default.
5. ALLOCATIONS OF PAYMENTS. Payments shall be first credited to any late fees due, then to interest due and any remainder will be credited to principal.
7. ACCELERATION. If the Borrower is in default under this Note or is in default under another provision of this Note' and such default is not cured within the nn|nirnurn allotted time by \mvv after written notice of such default, them Ledner may, at its option, declare all outstanding sums owed on this Note to be immediately due and payable.
This includes rights and possession tothe Security mentioned inSection 3.
B. ATTOR1NEY'S FEES AND COSTS. Borrower shall pay all costs incurred b«Lender incollecting sums due under this Note after a default, including reasonable attorney's fees. If Lender or Borrower sues to enforce this Note or obtain a declaration of its rights hereunder, the prevailing party in any such proceeding shall beentitled torecover its reasonable attornmy'sfees and costs incurred inthe proceeding (including those incurred inany bankruptcy proceeding orappeal) from the non -prevailing protest, and notice of protest.
10. NON -WAIVER. No failure or delay by Lender in exercising Lender's rights under this Note shall be considered a waiver of such rights.
11. SEVERABYLITY. In the event that any provision herein is determined to be void or unenforceable for any reason, such determination shall not affect the validity or enforceability of any other provision, all of which shall remain in full force and effect.
12.INTEGRATION. There are noverbal orother agreements that modify oraffect the terms of this Note.
This Note may not bemodified oramended except bvawritten agreement signed bvBornzwerand
13.CONFLJCTUNG TERMS. The terms ofthis Note shall have authority and precedenceover any conflicting terms inany referenced agreement ordocument.
14. NOTICE. Any notices required or permitted to be given hereunder shall be given in writing and shall be delivered (o) in person, (b) by certified rnaU, postage pnepeid, return receipt requested, (c) by facsimile, k8 by o commercial overnight courier that guarantees next day delivery and provides a receipt, and such notices shall be made to the parties at the addresses listed below.
15. GUARANTORS.Therenhal\beopersonor entity, under the terms of this Note, that shall be responsible for the payment, late foes, and any accrued interest other than the Bornovver.
18.EXECUTION. The Borrower executes this Note asoprincipal and not asasurety. Kthere is a
17. GOVERNING LAW. This Note shall be governed under the laws in the State of California.
With my Signature below, I affirm that I have read and understood this promissory note.
Borrower's Signatures - Date: Z `L
Dynasty Alliance Grow, Inc. with Berenice Cristerna as President Lender's Signatur Date: off- S 3
James Henry Martinez
Lender's Signature ✓r• Dateq
James Henry Martinez Jr