This "Addendum" made this Sep 18, 2013 1:01 AM to Loan Agreement 118270722,
originally dated September 09, 2013,
between "Borrower" TCN International Corporation
and the "Lender" r n .RedCar.WS roney jr
is hereby amended as follows;
Loan Agreement Number 118270722 shall be funded via funds advanced on Lenders
behalf by a third party Marketing Group.
advanced funds shall be re-paid to the third party at a rate of fifty
of all True Cash Diamond Club only commissions earned by Lender until such time as the
advanced amount of $600.00 has been re-paid in full. "Accured Interest is not included.)
and Lender furthermore agrees that all such amounts shall be automatically withheld
from your True Cash Diamond Club only 50% commissions by TCN International Corporation
on behalf of the third party Marketing Group.
All such withheld funds shall be directly credited to the Lenders advance account.
No demand for repayment of the Loan or withdrawal of Principal shall be permitted untill
such time as all advanced amounts have been repaId in full. (Accured Interest is excluded)
All other provisions and conditions of the original Loan Agreement remain the same except as adjusted herein.
In witness thereof, the parties have executed this Loan Agreement addendum this day and year last below written.
As to the Borrower: By:
George Foerst, President
TCN International Corp
Date: September 09, 2013
As to the Lender: By:
r n .RedCar.WS roney jr
Date & Time Stamp: Sep 18, 2013 1:01 AM
eSignature Authentication Number:
---End of Document------------------------------------------------------------------------
LOAN BACK TO TCN AGREEMENT
Loan Number: 118270722 Referral ID Number: 110436940 $600.00 September 09, 2013
For value received, the undersigned TCN International Corporation
who’s address is 2255 Glades Road, Suite 324, Boca Raton, FL 33431
promises to pay to the order of r n .RedCar.WS roney jr
who’s address is 124 tarpley st, burlington, NC,27215, United States
collectively hereinafter referred to as the “Parties”,
the sum of $600.00 with interest on the unpaid principal at the rate of 50%
per annum, calculated yearly not in advance
This "Loan Agreement" shall commence on the date which the Borrower
receives and accepts cleared funds in the amount of $600.00, which date shall become
the effective loan “Funding Date”. Borrower shall provide
Lender email notice of such
effective Funding Date. In consideration of
the Lender loaning monies to the Borrower,
and the Borrower
repaying the Loan to the Lender, both Parties agree to keep, perform
and fulfill the promises and conditions set out in the Loan Agreement.
I. TERMS OF REPAYMENT
Six (6) calendar months after the loan Funding Date, the Lender may demand repayment at any time with written notice,
which date shall become the “
”. Upon such written notice interest shall cease to accrue and all unpaid principal and accrued
interest shall become payable in full sixty (60) days from such Demand Date and will become the effective "
B. Withdrawal of Principal
– Lender may withdraw all or part of Principal at any time six (6) calendar months after the loan Funding Date.
Request to withdraw Principal shall be settled sixty (60) days from such request.
C. Bonus Payment
- Borrower shall pay Lender a onetime “Bonus Payment” of $500.00 at such time the Due Date falls five (5) calendar
years after the Funding Date and no request for withdrawal of any Principal have been made.
Borrower reserves the right to prepay this Loan Agreement (in whole or
in part) prior to the Due Date with no prepayment penalty. All
payments made shall be first applied to accrued interest, then to any outstanding principal amounts due.
III. COLLECTION COSTS
any payment obligation under this Loan Agreement is not paid when due,
the Borrower promises to pay all costs of collection, including
reasonable attorney fees, whether or not a lawsuit is commenced as part of the collection process.
any of the following events of default occur, this Loan Agreement and
any other obligations of the Borrower to the Lender, shall become
immediately, without demand or notice: a.) the failure of the Borrower
to pay the principal and any accrued interest in full on or before
Due Date; b.) the filing of bankruptcy proceedings involving the
Borrower as a debtor; c.) the application for the appointment of a
for the Borrower; d.) the making of a general assignment for the
benefit of the Borrower's creditors; e.) the insolvency of the
All payments of principal and interest on this Loan Agreement shall be paid in the legal currency of the United States.
Parties agree that all documentation with regards to this Loan
Agreement exchanged between the Parties will carry the Loan Number
for the duration of the Loan Agreement. This Loan Number may not be altered unless agreed to, in writing, by both Parties.
Loan Agreement contains the entire understanding among the Parties and
supersedes any prior written or oral agreements between
respecting the subject matter contained herein. There are no
representations, agreements, arrangements, or understandings, oral or
between and among the Parties relating to the subject matter of this
Loan Agreement that are not fully expressed herein.
renewal or extension of this Loan Agreement, delay in enforcing any
right of the Lender under this Loan Agreement, or assignment by
of this Loan Agreement shall affect the liability or the obligations of
the Borrower. All rights of the Lender under this Loan Agreement
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are cumulative and may be exercised concurrently or consecutively at the Lender's option.
provisions of this Loan Agreement may be amended by agreement of the
Parties. Any amendment of this Loan Agreement shall be in
dated, and executed by the consenting Parties and attached to the Loan
Agreement in Addendum. If any conflict arises between the
provisions of any amendment and the original Loan Agreement as previously amended, the most recent provisions shall control.
any action at law or in equity, including an action for declaratory or
injunctive relief, is brought to enforce or interpret the provisions of
this Loan Agreement prior to the Due Date, each party shall be responsible for its respective fees.
any one or more of the provisions of this Loan Agreement are determined
to be unenforceable, in whole or in part, for any reason, the