Attached files
Promissory Note
1. Names
Borrower:
Safer Shot, Inc., a Nevada corporation
1658 East 5600 South
Salt Lake City, Utah 84121
Lender:
James Yeung
161 Liberty Ave
Staten Island, New York 10305
2. Promise to Pay
For value received, Borrower promises to pay Lender $28,000 and interest at
the yearly rate of 8% on the unpaid balance as specified below.
3. Payment Date
Borrower will pay the entire amount of principal and interest on or before 45
days from the date of the note.
4. Prepayment
Borrower may prepay all or any part of the principal without penalty.
5. Security
In the event, the borrower does not repay the note on time, the lender may
convert the full amount due into common stock of the borrower, Safer Shot,
Inc., at 60% of the average of the bid and ask price for the previous five
days of the due date of the note.
It is also understood that the borrower guarantees that the company's 10K for
September 30, 2009 will be filed on or before the due date of December 31, 2009
or the extension date of February 15, 2010. It is also understood that no
common shares of the borrower may be issued without the written consent of the
lender.
Promissory Note - Page 1
6. Collection Costs
If Lender prevails in a lawsuit to collect on this note, Borrower will pay
Lender's costs and lawyer's fees in an amount the court finds to be reasonable.
7. Entire Agreement
This is the entire agreement between the parties. It replaces and supersedes
any and all oral agreements between the parties, as well as any prior writings.
8. Successors and Assignees
This agreement binds and benefits the heirs, successors and assignees of the
parties.
9. Notices
All notices must be in writing. A notice may be delivered to a party at the
address that follows a party's signature or to a new address that a party
designates in writing. A notice may be delivered:
in person
by certified mail, or
by overnight courier.
10. Governing Law
This agreement will be governed by and construed in accordance with the laws
of the state of Nevada.
11. Modification
This agreement may be modified only by a writing signed by the party against
whom such modification is sought to be enforced.
Promissory Note - Page 2
12. Waiver
If one party waives any term or provision of this agreement at any time, that
waiver will be effective only for the specific instance and specific purpose
for which the waiver was given. If either party fails to exercise or delays
exercising any of its rights or remedies under this agreement, that party
retains the right to enforce that term or provision at a later time.
13. Severability
If any court determines that any provision of this agreement is invalid or
unenforceable, any invalidity or unenforceability will affect only that and
will not make any other provision of this agreement invalid or unenforceable
and such provision shall be modified, amended or limited only to the extent
necessary to render it valid and enforceable.
14. Disputes
If a dispute arises, either party may take the matter to court.
BORROWER
Safer Shot, Inc.,
a Nevada corporation 1658 East 5600 South
Salt Lake City, Utah 84121
Dated: December 28, 2009
By:
/s/ John Lund
-----------------
John Lund, President
Promissory Note - Page 3