Attached files
EXHIBIT
10.74
PROMISSORY NOTE
Charlotte,
North Carolina $155,400
August
1, 2018
FOR
VALUE RECEIVED, the undersigned, Stone Street Partners, LLC, a
North Carolina limited liability company (the “Maker”),
hereby promises to pay to the order of I|M1, LLC, a California
limited liability company (together with its successors and
assigns, the “Holder”), the principal sum of One
Hundred and Fifty-Five Thousand Four Hundred Dollars ($155,400),
with all principal and interest amounts outstanding hereunder from
time to time, payable on December 31, 2018. This Promissory Note
shall carry an interest rate of five percent (5%) per annum, and
shall be computed on the basis of a 365-day year.
The
Maker reserves the right to prepay all or any portion of this
Promissory Note at any time and from time to time without premium
or penalty of any kind.
The
Maker, for itself and for any guarantors, sureties, endorsers
and/or any other person or persons now or hereafter liable hereon,
if any, hereby waives demand of payment, presentment for payment,
protest, notice of nonpayment or dishonor and any and all other
notices and demands whatsoever, and any and all delays or lack of
diligence in the collection hereof, and expressly consents and
agrees to any and all extensions or postponements of the time of
payment hereof from time to time at or after maturity and any other
indulgence and waives all notice thereof.
No
delay or failure by the Holder in exercising any right, power,
privilege or remedy hereunder shall affect such right, power,
privilege or remedy or be deemed to be a waiver of the same or any
part thereof; nor shall any single or partial exercise thereof or
any failure to exercise the same in any instance preclude any
further or future exercise thereof, or exercise of any other right,
power, privilege or remedy, and the rights and privileges provided
for hereunder are cumulative and not exclusive. The delay or
failure to exercise any right hereunder shall not waive such
right.
This
Promissory Note shall be governed by and construed and enforced in
accordance with the laws of the State of North
Carolina.
IN WITNESS WHEREOF, the undersigned has
duly caused this Promissory Note to be executed and delivered as of
the date first written above.
Stone
Street Partners, LLC
/s/ Martin
Sumichrast
Martin
A. Sumichrast, Manager