PROMISSORY NOTE EXAMPLE

Rule 100(a)(2)(i)

(Crowdfunding investor will receive this Promissory Note "CERTIFICATE" as a carbon proof)

PayPal


         


         

Borrower:

LIONELL INC attn: Air Fryer Basket of 1177 Avenue of the Americas 5th floor, NY, 10036 (the "Borrower")

Lender:

United States & Territories of United States (the "Lender")

Principal Base-amount:      $20.00 USD with respect to the Securities Exchange Commission Crowdfunding Rule (Rule 100(a)(1)); (Rule 100(a)(2)(i)) & (Rule 100(a)(2)(ii)).

*NOTE: $20.00 USD Principal Base-amount will be replaced according to the actual investment amount, if Crowdfunding investor investment is a higher investment amount

  1. FOR VALUE RECEIVED, The Borrower promises to pay to the Lender at such address as may be provided in writing to the Borrower, the principal sum of $240.00 USD, without interest payable on the unpaid principal, beginning the year date of the full collection of $100,000.00.
  2. This Note will be repaid in consecutive monthly installments after the first order is received from manufacturer as Crowdfunding profit sharing until the fullness of $240.00 is returned each month commencing the month following execution of this Note until the Lender has provided the Borrower with written notice of demand and the balance owing under this Note will be paid within the first 1 - 5 orders from the manufacturer of any such notice of demand.
  3. At any time while not in default under this Note, the Borrower may pay the outstanding balance then owing under this Note to the Lender without further bonus or penalty.
  4. All costs, expenses and expenditures including, and without limitation, the complete legal costs incurred by the Lender in enforcing this Note as a result of any default by the Borrower, will be added to the principal then outstanding and will immediately be paid by the Borrower.
  5. This Note is secured by the following security (the 'Security'): Air Fryer Basket - AirFryerBasket.com


    Type of Work: Invention
    Registration Number / Date: 1-436745696 / 10/28/2016
    Title: Philips Air Box
    Description: www.AirFryerBasket.com
    Invention Claimant: LIONELL INC
    Date of Creation: 2016
    Variant title: Air Fryer Popcorn Maker
    Names: LIONELL INC. / LIONELL
  6. The Borrower grants to the Lender a security interest in the Security until this Note is paid in full.  The Lender will be listed as a lender on the title of the Security whether or not the Lender elects to perfect the security interest in the Security.
  7. If the Borrower defaults in payment after demand for nine (9) days, the Security will be immediately provided to the Lender and the Lender is granted all rights of repossession as a secured party.
  8. If any term, covenant, condition or provision of this Note is held by a court of competent jurisdiction to be invalid, void or unenforceable, it is the parties' intent that such provision be reduced in scope by the court only to the extent deemed necessary by that court to render the provision reasonable and enforceable and the remainder of the provisions of this Note will in no way be affected, impaired or invalidated as a result.
  9. This Note will be construed in accordance with and governed by the laws of Delaware Corporate LAW & New York.
  10. This Note will ensure to the benefit of and be binding upon the respective heirs, executors, administrators, successors and assigns of the Borrower and the Lender affirming the potential in the Air Fryer Basket. The Borrower waives presentment for payment, notice of non-payment, protest and notice of protest.

IN WITNESS WHEREOF the Securities Exchange Commission Crowdfunding Rule (Rule 100(a)(1)); (Rule 100(a)(2)(i)) & (Rule 100(a)(2)(ii)), CHASE Bank (mail delivered Crowdfunding investments will be deposited into LIONELL INC checking account ending with "1") & PayPal also linked to LIONELL INC checking account ending with "1" having duly secured LIONELL INC checking account ending with "1" with the fore mentioned, "Air Fryer Basket" is ready for commerce this year of 2018 and on.

By receiving a duplicate of this Promissory Note with the deposit transcript from either by hand deposit or Paypal deposit, your Crowdfunding Investment will be noted, registered as a profit sharing recipient - with amount invested and the amount to be returned.

   


LIONELL INC

www.AirFryerBasket.com is the corporate seal for this Crowdfunding venture.

     


This section notifies that your Crowdfunding Investment was received and documented - SIGNED, SEALED, AND DELIVERED
this ________________ day of ________, ________.

   


_______________________________
United States & Territories (will illustrate your state seal, where the deposit came from).

     

NOTARY ACKNOWLEDGMENT - BORROWER


STATE OF NEW YORK

COUNTY OF _________________

On this ________________ day of ________, ________, before me, the undersigned, a Notary Public in and for said state, personally appeared LIONELL INC, personally known to me or proved to me on the basis of satisfactory evidence to be the individual whose name is subscribed to the within instrument and acknowledged to me that he/she executed the same in his/her capacity, and that by his/her signature on the instrument, the individual, or the person upon behalf of which the individual acted, executed the instrument.



________________________________
Notary Public

My commission expires: _____________

NOTARY ACKNOWLEDGMENT - LENDER


STATE OF NEW YORK

COUNTY OF _________________

On this ________________ day of ________, ________, before me, the undersigned, a Notary Public in and for said state, personally appeared United States & Territories, personally known to me or proved to me on the basis of satisfactory evidence to be the individual whose name is subscribed to the within instrument and acknowledged to me that he/she executed the same in his/her capacity, and that by his/her signature on the instrument, the individual, or the person upon behalf of which the individual acted, executed the instrument.



________________________________
Notary Public

My commission expires: _____________