Exhibit 10.1
LOAN AGREEMENT
THISLOANAGREEMENT(this"Agreement")datedthis1stdayofJune,2011
BETWEEN:
ELEAZARRIVERAof6239LongmeadowSt.Riverside,Ca.92505 (the"Lender")
OFTHEFIRSTPART
AND
ALPHA NETWORK ALLIANCEVENTURES, INC,of 16192CoastalHighway, Lewes,DE. 19958
(the"Borrower")
OFTHESECONDPART
INCONSIDERATION OFthe Lender loaningcertainmonies (the "Loan") tothe Borrower, andthe Borrower repaying the Loan to the Lender, bothpartiesagree to keep,performand fulfill the promisesandconditionsset out inthis Agreement:
LoanAmount & Interest
| 1. | The Lender promisesto loan two hundredseventy-fivethousand, one hundredseventy five($275,175.00) USD,to theBorrower and theBorrowerpromisestorepaythis principalamounttotheLender,at suchaddressasmaybeprovided inwriting,without interest payableon theunpaid principal. |
Payment
| 2. | This Loan will be repaid in full 1 year from the execution of this Agreement. |
| 3. | At any time while not indefault underthisAgreement,the Borrower maypaythe outstandingbalancethenowing under thisAgreementtothe Lenderwithoutfurther bonus orpenalty. |
Default
| 4. | Notwithstanding anythingto thecontrary inthisAgreement,if theBorrower defaults in theperformance ofanyobligationunderthisAgreement,then theLendermaydeclarethe principalamountowingand interest dueunderthisAgreementat that time tobe immediately due and payable. |
| 5. | Further, ifthe Lender declares theprincipal amount owingunder this Agreementtobe immediately due and payable,and theBorrowerfailstoprovide full payment,interest in theamountof6 percent,calculatedyearlynot in advance, willbe chargedon the outstanding amount, commencing theday theprincipal amount isdeclared due and payable,untilfull payment is received by theLender. |
Governing Law
| 6. | ThisAgreement will be construedinaccordance withand governedbythelaws ofthe Stateof Delaware. |
Costs
| 7. | All costs,expenses andexpenditures including, without limitation,the complete legal costsincurred by enforcing thisAgreementas aresultof any default bythe Borrower, will beadded tothe principal then outstanding and willimmediately be paidbythe Borrower. |
Binding Effect
| 8. | ThisAgreement will pass tothebenefit of and bebinding upon therespective heirs, executors,administrators,successors and permitted assignsof the Borrower andLender. The Borrower waives presentment for payment,notice of non-payment, protest,and notice ofprotest. |
Amendments
| 9. | ThisAgreement mayonly beamended or modifiedby awritten instrument executedby boththe Borrower andthe Lender. |
Severability
| 10. | Theclauses and paragraphscontainedinthis Agreement are intended tobereadand construed independently of eachother.Ifanyterm, covenant,condition orprovisionof thisAgreementis held bya court of competentjurisdiction tobe invalid,void or unenforceable,itisthe parties' intent that suchprovisionbe reduced inscopeby the court onlytothe extent deemednecessary by thatcourtto render the provision reasonableand enforceable and theremainder oftheprovisions ofthisAgreement willinnoway be affected, impaired orinvalidated asaresult. |
GeneralProvisions
| 11. | Headings areinserted for theconvenience ofthe parties only and are not tobe considered wheninterpreting this Agreement. Words inthesingular mean and include the pluraland viceversa. Wordsinthe masculinemeanandinclude the feminine and vice versa. |
EntireAgreement
| 12. | ThisAgreement constitutes theentire agreement between the partiesand thereareno further itemsorprovisions, either oralorotherwise. |
IN WITNESS WHEREOF,thepartieshaveduly affixed theirsignaturesunder handand seal on this 1stdayofJune, 2011.
| SIGNED,SEALED, AND DELIVERED | ||
|---|---|---|
| this1stday of June, 2011 in front of the person below who is over 18 years of age and not involved with the contents of this document or related to any of the parties in this document |  | |
| ELEAZARRIVERA | ||
| /s/ALLWIN SIMANJUNTAK | ||
| (signatureof witness) | ||
WITNESSDETAILS:
| Name: | /s/ALLWIN SIMANJUNTAK |
| Address:: | |
| SIGNED, SEALED, AND DELIVERED | |||
| this 1stday ofJune, 2011 in front of the personbelow who is over 18 yearsofage andnotinvolved withthe contents ofthis document orrelated toany ofthepartiesin this document. | |||
| /s/Illegible | ALPHANETWORK ALLIANCE. | ||
| (signature of witness) | VENTURES,INC, | ||
| WITNESSDETAILS: | per: _____________________ (SEAL) | ||
| Name: | /s/Illegible | ||
| Address:: | |||