Exhibit 10.2
LINEOFCREDITPROMISSORYNOTE
Date:March1,2015
$500,000.00
FORVALUERECEIVED,GroupExcellenceManagement, LLC(OBA:MyeasyHQ),("Borrower")promisestopayto the order of P413 Management,LLC ("Lender"),a/anTexas,Limited LiabilityCompany,the principalsumof Five HundredThousandDollars ($500,000.00),orso much thereof as maybe disbursedto,or for the benefit ofthe Borrower by Lender inLender's sole andabsolute discretion.Itisthe intentof the Borrower andLender hereunder tocreate a line ofcreditagreement betweenBorrowerand Lender whereby Borrower mayborrow up to$500,000.00from Lender;provided, however,that Lender has no obligation tolend Borrower any amounts hereunderand the decision to lendsuch moneyliesin the soleandcompletediscretion ofthe Lender.
INTEREST&PRINCIPAL:Theunpaidprincipalofthislineofcreditshallbearsimpleinterestattherateof six percent (6%)perannum. Interestshallbecalculatedbasedonthe principal balanceasmay beadjusted fromtime totimetoreflect additionaladvances madehereunder.Interest ontheunpaidbalance of this Note shallaccruemonthlybutshallnot bedueandpayableuntil suchtimeaswhentheprincipalbalanceofthis Notebecomes dueandpayable.Theprincipal balanceof this Noteshallbedue andpayableonMarch31,2019.Thereshallbe no penalty forearlyrepaymentof all oranypartofthe principal.
DEFAULT:TheBorrowershallbeindefaultofthisNoteonthe occurrenceofanyofthefollowingevents:(i)the Borrower shallfail tomeet itsobligationtomake the required principalor interest payments hereunder;(ii) the Borrower shallbedissolved or liquidated; (iii) the Borrower shall makean assignment for the benefit of creditors orshall beunable to,orshall admitin writing their inability to paytheir debts as they become due;(iv)the Borrower shall commence anycase,proceeding,or other action underany existing or future law of any jurisdiction relating to bankruptcy,insolvency, reorganization or relief ofdebtors,or any suchactionshallbecommenced against theundersigned; (v) theBorrower shall sufferareceivertobe appointed for it orforanyofits property or shall suffer a garnishment,attachment,levy or execution.
REMEDIES:UpondefaultofthisNote,Lendermaydeclaretheentireamountdueandowinghereundertobeimmediately due andpayable. Lender may also use allremediesin law and in equity to enforce and collecttheamount owedunderthis Note.
Borrower hereby waivesdemand,presentment,noticeof dishonor,diligenceincollecting,graceand notice of protest.
Lender:
/s/ Carl Dorvil___________________
Carl Dorvil
Chief Executive Officer
P413 Management, LLC
Borrower:
/s/ Chelsea Christopherson__________
Chelsea Christopherson
Chief Operating Officer
GroupExcellenceManagement, LLC(OBA:MyeasyHQ)