The occurrence of any of the following events shall constitute a Default by the BORROWER of the terms of this loan agreement and promissory note:īORROWERS failure to pay any amount due as principal or interest on the date required under this loan agreement.īORROWER seeks an order of relief under the Federal Bankruptcy laws.Ī federal tax lien is filed against the assets of BORROWER.Īddressee and Address to which LENDER is to give BORROWER written notice of default:

If LENDER gives written notice to BORROWER that a different address shall be used for making payments under this loan agreement, BORROWER shall use the new address so given by LENDER. The BORROWER shall make all payments called for under this loan agreement by sending check or other negotiable instrument made payable to the following individual or entity at the address indicated: Upon default of any of the payments as defined in paragraph ∺ above, LENDER may demand release of all ∼ollateral Shares to satisfy Note. Lender understands that these shares are restricted under Rule 144 of the Securities Act of 1933. $7,500.00 on or before November 25, 2010,įinal interest payment to be calculated as of final payment and due immediately thereto.Īs collateral for repayment of Loan Amount, BORROWER agrees to put forth a total of 250,000 Sanguine Corp (SGUI) common shares.

The BORROWER and LENDER, hereby further set forth their rights and obligations to one another under this Loan Agreement and Promissory Note and agree to be legal bound as follows:īORROWER will make payment(s) to LENDER in three (3) separate payments according to the following schedule: In determining the rights and duties of the Parties under this Loan Agreement, the entire document must be read as a whole.įOR VALUE RECEIVED, BORROWER promises to repay to the order of LENDER, the sum of $27,500.00 dollars together with interest thereon at a rate of 7 percent (%) per annum. BORROWER and LENDER shall collectively be known herein as the Parties. THIS LOAN AGREEMENT AND PROMISSORY NOTE (the Note), is made this 1st day of July, 2010, by and among Wharton Capital, LLC (hereinafter, known as LENDER) and SANGUINE CORP, a Corporation organized under the laws of the State of Nevada (hereinafter, known as ∻ORROWER).

Default notice letter template nirtgage