Attached files
Exhibit 4.34
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PRBI, LLC
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c/o KCI Investments, LLC
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4033 South Dean Martin Drive
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Las Vegas, NV 89103
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June 29, 2015
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Bridge Financing Term Sheet
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Issuer
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PRB I, LLC ("PRB"), a wholly owned subsidiary of KCI Investments, LLC ("KCI"), which in turn is a wholly-owned subsidiary of Dixie Foods International, Inc., a Florida C-corporation (OTCQB:"DIXI").
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PRB is temporarily in need of fund as a bridge loan to partially finance its opening of nine Papa John's franchise restaurants in Northern California (the "Restaurants"), four of which opened in later 2014, one more of which is under construction, and another four of which have signed leases and are in planning stages.
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Loan Amount
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$235,000
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Use of Proceeds
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Bridge Loan will be utilized to fund operations.
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Securities Issued
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Unsecured Bridge Loan in the Company (the "Bridge"). The Bridge is guaranteed by KCI and DIXI.
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Interest
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8% per year, payable upon Maturity Date (as defined immediately below) of the Bridge.
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Repayment Terms
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Prior to or on the date of August 1, 2015 (the "Maturity Date"). Repayment shall be made as a lump sum with principal and accrued interest as per Lender's instruction. Interest shall be based on 16% per year paid by the Issuer to the Lender after the Maturity Date until the loan is repaid.
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Guarantors
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Kenneth M. Antos and Preferred Restaurant Brands Inc.
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Special Terms
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All parties agreed that this loan (together with a previous loan of $100,000 funded on January 5th, 2015 as per a separate agreement and post-signed on April 22nd, 2015) is a completely separate matter from subscription agreement of PRB I EB5 program that the Lender's wife, Ms. Mingmei Yin, signed on November 5th, 2014. The repayment of this loan at maturity has no precondition such as Ms Yin's funding of EB5.
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Funding Date
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June 29, 2015
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Agreed as of this date by:
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PRBI, LLC
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c/o KCI Investments, LLC
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4033 South Dean Martin Drive
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Las Vegas, NV 89103
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April 22, 2015
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Bridge Financing Term Sheet
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Borrower
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PRB I, LLC ("PRB"), a wholly owned subsidiary of KCT Investments, LLC ("KCI"), which in turn is a wholly-owned subsidiary of Dixie Foods International, Inc., a Florida C-corporation (OTCQB:"DIXI").
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Lender
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PRB is temporarily in need of fund as a bridge loan to partially finance its opening of nine Papa John's franchise restaurants in Northern California (the "Restaurants"), four of which opened in later 2014, one more of which is under construction, and another four of which have signed leases and are in planning stages.
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Loan Amount
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$250,000
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Use of Proceeds
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Bridge Loan will be utilized to fund operations.
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Securities Issued
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Unsecured Bridge Loan in the Company (the "Bridge"). The Bridge is guaranteed by KCI and DIXI.
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Interest
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8% per year, payable upon Maturity Date (as defined immediately below) of the Bridge.
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Repayment Terms
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Prior to or on the date of June 30, 2015 (the "Maturity Date"). Repayment shall be made as a lump sum with principal and accrued interest as per Lender's instruction. Interest shall be based on 16% per year paid by the Issuer to the Lender after the Maturity Date until the loan is repaid.
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Guarantors
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Kenneth M. Antos and Preferred Restaurant Brands Inc.
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Special Terms
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The Borrower and Guarantors affirm that the Lender and or his family, due to the current restrictions of China's Foreign Currency Administration's regulations, is not yet obligated to invest in the Borrower's EB5 project and has none other debts to the Borrower and
Guarantors. All panics agreed that this loan (together with a previous loan of $100,000 funded on January 5th, 2015 as per a separate agreement and post-signed on April 22nd, 2015) is a completely separate matter from subsription agreement of PRB I EB5 program that the Lender's wife, Ms. Mingmei Yin, signed on November 5th, 2014. The repayment of this loan at maturity date has no precondition.
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