Exhibit 10.1
LINEOFCREDITPROMISSORYNOTE
Date:March1,2015
$1,000,000.00
FOR VALUERECEIVED,GroupExcellenceManagement, LLC(OBA:MyeasyHQ),("Borrower") promises topayto theorderof Carl Dorvil("Lender"),a/anTexas, Limited Liability Company,the principal sum of OneMillionDollars ($1,000,000.00),or so much thereofas may bedisbursed to,or for the benefitof the Borrower byLenderin Lender'ssole and absolute discretion. It is theintent of theBorrower and Lenderhereunderto create a line ofcredit agreement between Borrower and Lenderwhereby Borrower may borrow up to $1,000,000.00 from Lender; provided,however, that Lenderhas no obligationto lend Borrowerany amountshereunder and the decisionto lend such moneylies in the sole and complete discretionof the Lender.
INTEREST&PRINCIPAL:Theunpaidprincipalofthislineofcreditshallbearsimpleinterest attherate of sixpercent(6%)per annum.Interestshall be calculatedbased ontheprincipal balance asmay beadjusted from time to timeto reflect additionaladvancesmade hereunder.Intereston theunpaidbalance ofthis Note shallaccruemonthlybutshall not be due andpayable until suchtime as when the principal balanceof this Note becomes dueandpayable.The principal balance of thisNoteshall be due andpayable onMarch 31,2019.Thereshallbeno penalty for earlyrepaymentofallor any part ofthe principal.
DEFAULT:TheBorrowershallbeindefaultofthisNoteontheoccurrenceofanyofthefollowingevents:(i) the Borrower shall fail to meet its obligation to make the requiredprincipal or interestpayments hereunder;(ii) the Borrower shall bedissolved or liquidated; (iii)the Borrower shall make an assignment for the benefit of creditors or shall be unable to,or shall admit in writing their inability to pay their debts as they become due;(iv) the Borrower shall commence any case, proceeding, or other action under any existing or future law of anyjurisdiction relating to bankruptcy, insolvency, reorganization or relief of debtors,or any suchaction shall be commenced againstthe undersigned; (v)the Borrower shall suffer areceiver to be appointed for it or for any of its property or shallsuffer agarnishment,attachment, levy or execution.
REMEDIES:Upondefault ofthisNote,Lendermaydeclaretheentireamountdueandowinghereunderto be immediately dueandpayable. Lendermayalsouseallremediesin lawand inequity to enforce and collectthe amount owedunder this Note.
Borrower hereby waivesdemand,presentment,noticeof dishonor,diligenceincollecting,graceand notice of protest.
Lender:
/s/ Carl Dorvil___________________
Carl Dorvil
Borrower:
/s/ Chelsea Christopherson__________
Chelsea Christopherson
Chief Operating Officer
GroupExcellenceManagement, LLC(OBA:MyeasyHQ)