THIS LOAN AGREEMENT, dated as of today, the date of order made by and between:
Party A: Grileck International S.A., a Uruguay Financial Institution registered at the Central Registry office, with its registered address at: 1429/2d Durango, Montevideo, Uruguay
Party B: whose name and address appear on this online order
WHEREAS, Party B desires to receive financing for an account; and Party A desires to provide Party B with loan in US Dollars. For the purpose to define the rights and obligations of both parties hereto, Party A and Party B enter into this Loan Agreement (this "Agreement") on the principle of equality and mutual benefit.
AMOUNT AND TERM OF LOAN
1.1. Party A agrees, subject to the terms and conditions of this Agreement, to extend a loan in US Dollars to Party B (the "Loan"). The
aggregate amounts of the Loan shall be $770 USD with an interest rate of 0%
1.2. The term of the Loan shall be about eight months, commencing from the execution date hereof.
1.3. Party B shall repay in full Party A the Loan that Party A extends to Party B prior to the expiration of the term thereof in the amount of $100 USD per month, each month to satisfy said loan. There is no pre-payment penalty for an early pay- off.
1.3 Party B agrees to mail $100 each month in the name of Sunshine Financial Group LLC as payee (US agent for Grileck International S.A.) to Sunshine Financial Group LLC; 4798 S Florida Ave #124 Lakeland, Florida 33813 OR by placing an online order each month for this amount.
1.4 Party B agrees that if monies are not received by the first of each month, their account access will be inactivated.
METHOD OF BORROWING AND USE OF LOAN PROCEEDS
Within 5 business days after execution of this Agreement, Party A shall activate said account.
Party B shall not use such Loan for any purposes in violation of US or international and regulations, otherwise Party A may at any time require Party B to repay the Loan in full.
PARTY B's REPRESENTATIONS AND WARRANTIES
Party B hereby represents and warrants to Party A that:
3.1. Party B has all the necessary rights, power and capability to enter into an perform all the duties and obligations hereunder, and that this Agreement shall be binding upon Party B after the execution hereof. Party B is of sane mind and is entering into this agreement upon his own free will.
3.2. Party B will resolve appropriately any issues not covered hereunder in conjunction with Party A in accordance with relevant laws and policies.
PARTY A's REPRESENTATIONS AND WARRANTIES
4.1. Party A is a financial institution established and existing under the laws of Uruguay, has all the necessary rights,
power and capability to enter into and perform all the duties and obligations hereunder, and that this Agreement shall be binding upon Party A after the
execution hereof. Party A appoints Sunshine Financial Group LLC, US agent to accept payments on behalf of Grileck International S.A. and conduct any and all legal affairs in the United States. Sunshine Financial Group LLC does not hold members’ monies or conduct securities transactions but acts as an agent and payment processor. Party A has right to choose applicable jurisdiction of legal matters should any arise. Party B agrees to said jurisdictional agreement.
4.2. Party A will resolve appropriately any issues not covered hereunder in conjunction with Party B in accordance with relevant United States laws and policies.
5.1 Without written consent of the other party, neither Party shall disclose to any third parties this Agreement or any information disclosed by any Party hereto during the performance of this Agreement, except such disclose is necessary for compliance with relevant laws and regulations, court rules and/or governmental or regulatory or stock exchange rules, or the sale of this loan; unless such information become public known not as a result of violation of this Article 5.1.
6.1. No waiver of any breach hereof or failure of any Party in exercising any power or right hereunder shall operate as a waiver of other
breach or further breach hereof, nor waiver of all the power or right hereunder.
6.2. Any delay of any Party in exercising any power or right hereunder shall operate as a waiver thereof.
If any provision of this Agreement shall be held invalid, illegal or unenforceable in any respect under any laws and regulations, suchinvalidity, illegality or unenforceability shall not affect any other provision hereof.
6.1. This Agreement contains all the agreement and understanding between the Parties with respect to the Loan.
6.2. This Agreement shall supersede all prior agreements, understandings, letter of intent, documents or communications between both
Parties or their representatives and advisors relating to the Loan. Party B shall waive any and all rights to file a claim.
6.3. No amendment to this Agreement or any provisions hereof shall be effective unless it shall be agreed in writing by both Parties.
TAXES, FEES AND EXPENSES
Any and all taxes, fees and expenses that are payable as a result of the Loan shall be solely borne by the Party exercising its rights hereunder, unless either Party A or Party B has been expressly required to pay the same under applicable law or this Agreement.
10.1. Failure by any of Party A or Party B in performing its obligations hereunder shall constitute a breach of this Agreement.
10.2. The Party in breach of this Agreement shall indemnify the other Party for all economic damages suffered as a result of such breach.
10.3 The Party in breach agrees to pay all applicable costs including but not limited to recovery of funds, court costs, et al with prejudice.
10.3. If this Agreement or any portion hereof can not be performed due to negligence of any Party hereto, such Party shall be held liable for breach, and the other Party shall have the right to terminate this Agreement and recover all applicable costs. If both Parties have negligence, each of Party A and Party B shall take respective responsibilities to the extent of loss and damage.
The formulation, validity, interpretation, performance, amendment and termination of this Agreement and resolution of dispute shall be governed by the relevant laws of the State of Florida or an applicable court deemed by Party A.
Party B does hereby waive any and all rights to arbitration or a trial.
Party B, does solemnly swear, with all their mind, body, and spirit, above all other, to make payments as due each month without delay and pay this loan back in full.
Party A agrees that by submission of this order will constitute a valid agreement and obligation and waives any and all rights to dispute this fact thereof and that a submission represents a valid signature.