Item 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.
On
After the maturity date or due date of the promissory note, interest shall be charged on the respective principal amount remaining unpaid at a rate equivalent to the highest lawful rate or twenty-five percent (25%) per annum, whichever is less, until paid.
If any payment of principal or interest or both is more than five days late, Borrower agrees to pay lender a late charge equal to five percent (5.0%) of the payment.
The foregoing summary of the promissory note and the guaranty agreement are qualified in their entirety by reference to the full text of the secured promissory note, corporate guaranty agreement and mortgage which are attached hereto as Exhibit 10.1(a), 10.1(b) and 10.1(c), respectively, and incorporated herein by reference. You are urged to read said exhibits attached hereto in their entirety.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits. Exhibit Number Description 10.1(a) Secured Promissory Note datedNovember 12, 2021 in the principal amount of$1,001,467 made by Assisted 4Living Consulting, Inc. 10.1(b) Corporate Guaranty ofAssisted 4 Living, Inc. datedNovember 12, 2021 . 10.1(c) Mortgage made November 12, 2021 by Assisted 4Living Consulting , Inc. 104 Cover Page Interactive Data File (embedded within the Inline XBRL document)
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