NEITHERTHISNOTENORTHESECURITIESINTO WHICHTHISNOTEIS CONVERTIBLEHAVEBEENREGISTEREDUNDERTHESECURITIESACT OF1933,AS AMENDED (THE"ACT")OR ANYSTATE SECURITIESLAWS ANDNEITHERTHISNOTENORANYINTEREST THEREIN NORTHE SECURITIESINTO WIDCHTHISNOTEIS CONVERTIBLE MAY BE OFFERED, SOLD, TRANSFERRED, PLEDGEDOR OTHERWISE DISPOSED OF EXCEPTPURSUANTTO AN EFFECTIVEREGISTRATIONSTATEMENT UNDER SUCHACT AND SUCHLAWSOR AN EXEMPTION FROM REGISTRATION UNDER SUCH ACT AND SUCH LAWS.
Co-signer.com,Inc.
Ninety(90)DayPromissoryNote
May23,2013
$10,000.00
FORVALUERECEIVED,theundersigned,Co-signer.com,Inc.(Maker),promises topaytotheorderofArgentOffsetLLC(NoteHolder)orthesuccessors andassigns, the principalsumof Ten Thousandandno/100Dollars($10,000.00)(Principal)subjectto the terms andconditions setforth herein.
OnbehalfofCo-signer.com,ArgentOffsetLLChasarrangedto paythefollowing amountsfortheCo-signer.comaudit:
$7,500.00to SilbersteinUngar,PLCC
$2,500.00toRachelBoulds,CPA
Theamounts abovearetheprincipalofthisnote. Principalpaymentshall be madeto:
ArgentOffsetLLC
1320JuneberryPlace
OxnardCA93036
Theconsiderationforthisloanshallbeasimpleannualinterestrate of 12%accrued andcompoundedmonthly.
Theprincipalandinterestshallbedueandpayableinfullinonepayment,without offsetordeduction,inlawfulmoneyof theUnitedStates,byNinety(90)daysfromfmal fundingofloan (maturitydate).
MakerwillreimburselegalexpensestoNoteHolderforanycostsandexpenses incurredinenforcing thisNotetotheextentallowablebyapplicablelaw.Those expensesinclude,butarenotlimitedto, reasonableattorney'sfees.
Co-signer.com,Inc.andanyotherentitythathasobligationsunderthisNotewaive therights ofPresentmentand NoticeofDishonor."Presentment"meanstherighttorequiretheNote Holder todemand payment ofamountsdue. "NoticeofDishonor"meanstherightto requiretheNoteHoldertogivenoticetootherpersons thatamountsdue have notbeen paid.
TheMakerrepresentsandwarrantstoHolder:
OrganizationandQualification.TheMakerandeachofits Subsidiaries(as definedbelow), ifany,isacorporationdulyorganized,validlyexistingandingood standingunderthelawsofthe jurisdiction inwhichit is incorporated, with full powerand authority (corporate andother) toown,lease,useandoperate itsproperties and to carry on its business as and where now owned, leased, used, operated and conducted. The Maker and each ofits Subsidiariesisduly qualified as aforeign corporationto do businessand is in good standing in every jurisdiction in which itsownership or use of propertyorthe natureof the business conductedby itmakes such qualificationnecessary except where thefailure tobesoqualifiedorin good standing wouldnot have aMaterial Adverse Effect. "Material Adverse Effect" meansany materialadverse effect onthe business, operations,assets,financialcondition or prospects of the Maker or its Subsidiaries,ifany,taken as awhole, oron the transactionscontemplated hereby or by the agreements or instruments to beenteredinto inconnection herewith."Subsidiaries" meansanycorporationor other organization,whether incorporated orunincorporated, in which theMaker owns, directly orindirectly,any equity orotherownership interest.
Authorization;Enforcement.(i)TheMakerhasallrequisitecorporatepowerand authoritytoenterintoandperformthisNote and to consummatethetransactions contemplatedhereby and thereby and to agreeto allfees charged, inaccordancewiththe terms hereof,(ii)the execution and deliveryof thisNote bytheMakerandthe consummationbyitof thetransactions contemplatedhereby andtherebyhave been duly authorizedbythe Maker's Board of Directors and nofurther consentorauthorization of the Maker,its Board of Directors,oritsshareholdersis required, (iii) thisNotehas been duly executedanddelivered by theMaker by its authorizedrepresentative,andsuch authorized representativeis thetrue andofficial representativewithauthorityto signthis Note and the otherdocuments executedinconnection herewithand bind the Maker accordingly, and(iv)thisNote constitutes,a legal,validandbindingobligationof the Maker enforceable against theMakerinaccordance with its terms.
NoConflicts.Theexecution,deliveryandperformancetheNotebythe Maker andtheconsummationbytheMakerofthetransactionscontemplatedherebywill not(i) conflictwith orresult ina violationofanyprovisionof the Articles of Incorporationor By-lawsoftheMaker,or(ii)violate or conflictwith,orresultinabreachof any provisionof,orconstitutea default (or an eventwhich withnotice orlapseoftimeor both couldbecomea default) under, orgivetoothersany rights of termination, amendment,accelerationor cancellationof,anyagreement,indenture,patent,patent licenseor instrument to whichthe Makeror any of itsSubsidiariesis aparty,or(iii) result inaviolationofany law,rule,regulation, order, judgment or decree (including federalandstate securitieslawsandregulationsand regulationsofany self-regulatory organizations towhichthe Makeror itssecuritiesaresubject) applicableto theMakeror anyof its Subsidiariesor by whichanypropertyor asset of theMakeroranyofits Subsidiariesisbound or affected(except for suchconflicts, defaults,terminations, amendments,accelerations,cancellationsand violationsaswouldnot, individually orin theaggregate,have aMaterialAdverse Effect).
NoIntegrated Offering.NeithertheMaker,noranyofitsaffiliates,norany person acting onitsortheirbehalf,hasdirectlyor indirectly made anyoffersorsalesin anysecurity or solicited anyofferstobuyanysecurityundercircumstances thatwould require registrationunderthe1933 Actoftheissuanceofthisnoteorthe Conversion Stock to theHolder.
NoInvestmentCompany.TheCompanyisnotan"investmentcompany" requiredtoberegisteredundertheInvestmentCompanyActof1940(an"Investment Company").TheMaker is notcontrolled by an Investment Company.
ThisNoteisa uniforminstrumentwithlimitedvariationsinsomejurisdictions.
Notices. Anynoticehereinrequiredorpermittedtobegivenshallbeinwriting andmaybepersonallyservedordeliveredbycourierorsentby United Statesmail and shall be deemed tohave been givenupon receipt ifpersonally served (which shallinclude telephoneline facsimile transmission)orsent by courierorthree (3)days after being depositedin theUnited States mail, certified,with postage pre-paid andproperly addressed,if sent by mail. Forthepurposeshereof,the addressoftheNoteHolder shall be1320 Juneberry Place, Oxnard CA 93036; and the address of the Maker shall be1077 W TwainAvenue, Suite255, Las Vegas, NV89135. Both theHolderor its assigns and the Maker may change theaddress forservice bydelivery of written noticeto the otheras herein provided.
Amendment. ThisNoteandanyprovisionhereofmaybeamendedonlybyan instrumentinwritingsignedbythe Maker and the Note Holder.
Assignability. ThisNoteshallbebindingupontheMakerandits successorsand assignsandshallinuretobe the benefit ofthe Holder and its successors and assigns; provided, however, thatsolong asnoEvent ofDefault has occurred, this Noteshall only betransferable in whole subject to the restrictionscontained intherestrictivelegendon the firstpage of thisNote.
GoverningLaw.ThisNoteshallbegovernedbytheinternallawsoftheStateof California,withoutregard toconflicts oflaws principles.
Replacementof Note.TheMaker covenants thatuponreceiptbytheMakerof evidencereasonablysatisfactoryto itoftheloss,theft,destructionormutilationofthis Note,andincaseofloss, theft ordestruction,ofindemnityor securityreasonably satisfactoryto it (which shall notinclude the posting ofany bond),and uponsurrender andcancellation of suchNote,ifmutilated,theMakerwill makeanddeliveranew Note ofliketenor.
Severability.IncaseanyprovisionofthisNoteisheldbyacourtofcompetent jurisdictiontobeexcessiveinscopeorotherwiseinvalidor unenforceable,such provision shallbe adjusted ratherthan voided, if possible, sothat it is enforceable tothe maximum extentpossible, and the validity and enforceability of the remaining provisions of this Note will not in any way be affected or impaired thereby.
Headings.Theheadingsof thesectionsof thisNoteareinsertedforconvenience onlyanddonotaffectthemeaningofsuch section.
Counterparts.ThisNotemaybe executedinmultiple counterparts,eachofwhich shallbeanoriginal,butallof whichshallbedeemedtoconstituteoninstrument.
INWITNESSWHEREOF,withtheintenttobelegallyboundhereby,theMakerhas executedthisNoteasofthedatefirstwrittenabove.
| MAKER: | |
| /s/ James Hodgins | 5/23/2013 |
| James Hodgins, COO/CFO | Date |
| Co-Signer.com, Inc. | |
| |
| NOTE HOLDER: | |
| |
| /s/ Rick Narvoson | 5/23/2013 |
| Argent Offset LLC | Date |
| Rick Narveson, Managing Member | |
