EXHIBIT 10.18
RELIV' INTERNATIONAL, INC. 148671-
DEED OF TRUST NOTE
US $4,430,000.00 St. Louis, Missouri
September 2, 1997
1. FOR VALUE RECEIVED, the undersigned, Reliv' International. Inc.,
(hereinafter "Maker", promises to pay to the older of SOUTHWEST BANK OF ST LOUIS
(hereinafter "Holder") at 2301 South Kingshighway, St. Louis, Missouri
63110-3498, the principal sum of FOUR MILLION FOUR HUNDRED THIRTY THOUSAND AND
NO/100 DOLLARS ($4,430,000), with interest thereon from the date hereof at the
rate of 8.50% per annum (and shall be calculated on the actual number of days on
the basis of a year of 360 days), with payments to be made as follows: Interest
only on the from time to time principal amount of indebtedness evidenced hereby
at a rate of 8.50% per annum shall be payable monthly commencing October 1, 1997
through and including March 1, 1998, and commencing April 1, 1998, Thirty-five
(35) payments of principal and interest in the amount of THIRTY-EIGHT THOUSAND
EIGHT HUNDRED TWO AND 13/100 DOLLARS ($38,802.13) shall be payable monthly, with
the balance of principal and interest due and payable March 1, 2001 each of such
payments to be applied first in payment of interest due on the entire unpaid
principal, and the remainder in reduction of the principal, with interest after
maturity, by acceleration or otherwise, at the rate of 20.00% per annum.
2. Maker reserves the right to prepay any or all of the principal
amount evidenced by this Note without penalty at any time.
3. If any payment under this Note is not paid within ten days after the
payment is due, then Maker shall pay to Holder a late charge of ten percent
(10%) of such payment, but in any event not less than Ten Dollars ($10.00).
4. This Note is secured by a Deed of Trust and encumbering certain real
and personal property located in the County of St. Louis, State of Missouri (the
terms and provisions of which are incorporated herein by this reference), and by
any other instruments or security, now or hereafter executed by Maker or any
other party in favor of Holder, which shall constitute additional security for
this Note and Maker has also given to Holder in connection herewith an N/A (all
of which are herein collectively called the "Loan Documents").
5. It is agreed that time is of the essence in the performance of all
obligations hereunder and under the Loan Documents. If Maker shall fail to make
any payment hereunder when due, or upon the occurrence of an event of default in
the performance or observance of any of the terms, agreements, covenants or
conditions contained in the Loan Documents, then, or at any time thereafter, the
entire principal balance of this Note, irrespective of the maturity date
specified herein, together with the then accrued interest thereon, shall, at the
election of the Holder hereof and without notice of such election, become
immediately due and payable.
6. All makers, endorsers, guarantors and sureties hereof jointly and
severally waive presentment, protest, notice of dishonor, and notice of intent
to accelerate; and they also jointly and severally hereby consent to any and all
renewals, extensions or modifications of the terms hereof, including the terms
or time for payment, and further agree that any such renewal, extension or
modification of the terms hereof or time for payment or of the terms of any of
the Loan Documents or the release or substitution of any security for the
indebtedness evidenced hereby or any other indulgences shall not otherwise
affect the liability of any of said parties for the indebtedness evidenced by
this Note. Any such renewals, extensions or modifications may be made without
notice to any of said parties.
7. This Note shall be the joint and several obligation of all makers,
endorsers, guarantors, and sureties, and shall be binding upon them and their
successors and assigns and shall inure to the benefit of the successors and
assigns of Holder, all makers, endorsers, guarantors, and sureties hereof agree
jointly and severally to pay al costs of collection (including those incurred in
any bankruptcy proceedings and regardless of whether suit is filed) and
foreclosure, including reasonable attorneys' fees and costs.
8. Any forbearance of Holder in exercising any right or remedy
hereunder or under the Loan Documents, or otherwise afforded by applicable law,
shall not be a waiver of or preclude the exercise of any right or remedy. The
acceptance by Holder of payment of any sum payable hereunder after the due date
of such payment shall not be a waiver of Holders right to either require prompt
payment when due of all other sums payable hereunder or to declare a default for
failure to make prompt payment.
9. This Note shall be governed by the laws of the State of Missouri.
IN WITNESS WHEREOF, Maker has executed this Note as of the date first
above written.
RELIV' INTERNATIONAL, INC.
By:_________________________________
Robert L. Montgomery
By:_________________________________
David G. Kreher
Property Address:
112 & 136 Chesterfield Industrial Blvd.
2nd & 3rd Deed of Trust
Maturity Date:
March 1, 2001
Mailing Address:
P. 0. Box 405
Chesterfield, MO 63006