Attached files
file | filename |
---|---|
10-Q - Petron Energy II, Inc. | restaurant10q113009.htm |
EX-32 - Petron Energy II, Inc. | ex32.htm |
EX-31 - Petron Energy II, Inc. | ex31.htm |
Exhibit
10.4
PROMISSORY
NOTE
$5,000.00
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December
21, 2009
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Austin,
Texas
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FOR VALUE, the receipt and
sufficiency of which are hereby acknowledged, Restaurant Concepts of America, a
Nevada company referred to as (“Borrower”), promises to pay to David Cho
(“Lender”), or order, at Austin, Texas, or as otherwise instructed, the
principal sum of five thousand dollars ($5,000.00) in lawful tender of the
United States, together with simple interest thereon at an annual interest rate
of eight percent (8%).
Terms of
Repayment. This Promissory Note shall become due and payable
together will all accrued interest on December 21, 2010.
Default. Any
one or more of the following events shall constitute a Default under the terms
of this Note:
1)
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Borrower
fail to make timely payment when due.
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2)
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Borrower
breaches an agreement or promise made to Lender, or fails to timely
perform any obligation owing to
Lender
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3)
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Borrower
makes any representation or statement to Lender that is false or
misleading in any material manner.
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4)
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Borrower
becomes insolvent, or a receiver is appointed for any part of all of
Borrower’s property, of Borrower makes an assignment for the benefit of
creditors, or any proceeding is brought either by Borrower of against
Borrower under any Bankruptcy or insolvency
laws.
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In the
event of any default as described herein, Lender, without further protest,
presentment or notice, may declare all sums due and payable, together with any
interest then due.
Waiver. Forbearance
of any payment due of modification of any term of this Note by Lender in any
manner shall not be deemed nor construed as a waiver of any other rights in
favor of Lender under the terms of this Notice.
Legal. This
Note shall be construed in accordance with the laws of that State of Texas,
which shall be the choice of jurisdiction and venue for purposes of enforcement
of this Note. If any action is brought to enforce any provision or
collect on this Note, the prevailing party shall be entitled to reimbursement
for all reasonable attorney’s fees and costs, in addition to any other relief to
which that party may be entitled.
Restaurant
Concepts of America
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By:
/s/
David Cho
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David
Cho - President / CEO
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