EX-10.2 8 bellatora_ex1002.htm PROMISSORY NOTE AGREEMENT BETWEEN CORAL INVESTMENT PARTNERS, LP AND BELLATORA, INC.

Exhibit 10.2

PROMI SS OR YN OT E Tim P H OM I S O l n 1'1 01 AG IU . I ,, H I \ I ts cn tm ..d tnto on 1h1 18th day of J une , 2 0 2 1 , b y uncl b e twe e n Coral I n ves tment P<1rtn cr, - , LP . a <,corgta Lun1tc:d Partner s h i p ¼ ho se addrc s I \ 2030 Powe, s l · erry R oa d L . ".iu1tc ' 212 Atll':lnta, (,A 10119 ( "Cre dit or" 01 · C ORAL " ) and Bellatorn , In c. a Colorado Corporatwn, "'hose pnn c1pa l addrc 5s 1 s 11 7 00 \ \ est Charleston Bl v d , Sulle t. 1 70 - 74 La Vega!., NV 89 11 5, ( "D('htor" or " Bellatora " ). <..ollecti \ ely referred lo as th e· Part,e " \ V II E R EA . BELLATORA 1 :. a corporation with hmIL cd resource :. and from tim e to time m need of financial assistance m order to mamtam 11 s good t andmg status and 10 pa y other fees or charges associated \ 1 th bemg a public company . \ \ H E R EAS, BELLATORA 1 s currently doe s not have a class of shares regi stered w ith the Securities and Exchange Comm 1 ss 1 on ( "S EC) . BFLLATORA lack s the fund t o become a full y reporting com p any 1 th the Securi ti e s and Exc h ange Comrm s 1 on ('"SEC") WHEREAS , BELLATORA 1 s i n need o f borrowi n g fu n d . a n d Coral 1 s \ \ llltn g 1 0 ad \ 'ance funds t o BELLA TORA for t h e purposes sta t ed abo, e . \ \ H EREAS . Coral h as agreed 1 0 ad , a n ce f und s for u e in t he p u rpose descnbed above \ . \ HEREA , Coral and BELLATORA a r c d esi rin g t o e nt er mto this Promis sol) 'o te Agreeme nt for th e purpo se of bemg able to mai n tam II good standmg talus and sta tu s as a publicly traded com pany and 10 ensure t he r epayme nt of t he fu nd s a d, ancc b y Cora l : ' 110 \ \ , THEREFORE , for goo d and val u able co n s 1 dera 11 o n . th e receipt and suffic 1 en 9 of \ \ h 1 ch arc hereby acknow l edged b y each of t h e p arties h ere t o , the p : ut 1 e : , hereby agree that he debt between bot h parties is h ere b y rev i ed a n d re l a t ed as fo li o \ \ s : l. A m o u nt of D e b t : The m 1 t ial a m ou nt of th e d ebt s h a ll be T h irt y T ho u sand Dollars ( $ 30 , 000 ) . v,hich Coral s hall fun d t o BE L LATO R A at th e 11 me of the s 1 gnmg of this Promissory Note Agree m en t via th e a u m p t i on and replacement o f th e Promi s ory Note Agree m e nt between Cora l an d R enewab l e E n erg) Solution Systems , loe . In t h e eve n t t hat BE LL A 1 ORA t s i n need of addit i onal funds t o mamtam its s tatu s as a ful ly re p o rt 111 g co m pa n y w it h t he E , Coral ag re es 10 ad \ ance to BELLATORA add iti ona l f unds t o be used to m aintam th 1 t at u 5 2. I n tc r est R a t e : The Debt : , ha ll mcur mt eres l a l th e rate of Twen l ) • Fuur P ercent ( 24 ƒ /o) per annum . compounded mon t h l y (" I nt eres t ") u n til t he Deb t I repaid m full Int e r es t o n th e Debt shall acc ru e a n d beco m e due and payab l e on the closm g ( 1m11nb J

 
 

PROMI SS OR Y , V OT E o f .my t ransaction resu lt ing rn a change in control of kfLLATORA interes t 1,ha ll be added lo tilt o u tr.wn d mg pnnctp a l bal.mce. 3 . T) pe a n d Pl ace of P a m en t : A . The amount due C o r a l mcludm g pri nc ip al and interest hall be dae pa y abl e upon Br..LL A TOR i \ comm en cin g s u fficien t business openu lo r e p ay th e deb t; o r 8 Th e amount due Co ral , including pnn c 1 pal and in t eresl shall be due and pa yab l e fr o m th e e s c row of a n y trans a ction re sul t ing m a change m control of BELLATORA ; and 4 . P re pa ) · ment : Ad \ ance paymen t or paymen ts ma y be made o n an y amounts d ue unde : r thi s N ote withou t pen a ll y or forfeiture . There s hall be n o pen alty for any prepa y ment S . Acce l e r a tion pon O c cu r re n ce of S pecified E \ e nts . U pon the occurrenc e o r du n n g the continuance of a ny one or more of t he events her e m a ficr enum e rated , Ifo l d e r or an y of i t s as s i gns may fo rth w it h or at any t ime thereafter or dunn g th e cont 111 uance of an y s uch event , b y no ti ce m wri t ing t o the Maker . declar e the o ut , ; t a ndm g balance be 1 m m e d 1 a t e l y d u e and payab l e \ Hthout present a ti o n dem a nd pro t e s t , no ti c e of pr 0 LC!,l . o r o th e r n ouce of d 1 honor , all of which are h ere b y e xpr e s s l y w a i ved by Maker : A. Mak e r s h a ll fil e a vo l u nt ary pe t 1 t 1 on in b a n kru p t cy or a \ olun t aT) pcutt o n see king reorga ni zat i on , o r s h a ll fil e a n answer adm 11 1 mg the junsdict 1 on of t h e c ourt an d a n y ma t e ri a l a ll ega ti o n s of an 1 m - olu nt ary petinon filed pur s u a nt t<J any . ic t of o n g r ess r elati n g t o ba n kr u p t c y or to an y act purporting t o be a m cnda t ory th e r eo f, or sha ll be adJud 1 ca t ed bankrupt . o r r, h a ll mak e an a 1 > s 1 gn m c nt f o r t h e be nefit of cred it or s, or s h all appl y for or com , enl 10 the a pp o int me nt of a n y r ece i ve r o r t r u stee for Make r , o r of all or a n y su b ta nt ia l p o r 1 io n of Jh pr ope rl y , or Make r shall m a ke an , 1 ss 1 g nm c n 1 t o a n a g e nt au th or 1 e d t o liqu 1 d a 1 e a n y s u bstant i a l part of 1 h a c ... t i, , 01 H lllllli lt l J An ord e r i, ha ll h e entere d pu n ; u a nt l o a n y ac t of Cong r e ss re l a ting t o b a nkru p tc y o r 1 0 a n y act purp o rtm g t o b e a m e nd atory th < . 'l'COf appro" mg a n 1 nvo l u n 1 ur y pc tttwll !> CCk 1 n 1 e o rga mz a t 1 o n of th e Mak e r , or an order of any t ; 1 HJ rt s h a ll b e e nt e r e d a ppointin g : m y rcc . e 1 V< . ' r or tn 1 \ tee o f or fo r Make , , m , . 111 y r ec : c 1 vc 1 o l 11 u 1 cc of a ll or a n y s ub ta nt tJI po rt wn of th e p 1 opc 11 y o 1 Make r , o r a w 1 i 1 or wa ri an t o f a tt ac h men t or an) 1 m 1 l . u p 101 . c , 11 11 , ill b e , . , s u e d h y a n y w ur 1 < 1 ga 111 s l . ill (l t a n y sub tau tt u l portion o l 11 , c prnp cr t y of M . 1 kc - 1 , . J nd we lt \ ll dl ' r app r oving :. i pe ll tt< • n scekm g 2 0."

 
 

PROMI SS OR Y N O TE reo , ga ni za t io n o r appo 111 t 111 g a receiver or trustee ,snot vacated or stayt : d, o r s u c h w rit , warran t of a ll achment o r s i milar process 1 s not rclea!>e<l or bo nd e d w 1 t h 111 6 0 d ays a ft e r ,t s e nt ry or l evy . 6. A s s i g n a b i li ty : Th e ri g h t s or o b l i gatio n s u nd er t hi s Note may not be as!> 1 gned a n d/o r d e l ega t e d by Ma k er w ith o ut th e express w ri tten com,e nt of t h e other party H o ld e r m ay ass i g n hi s ri g ht s w itho u t r es t r i c t i o n . 7. R e p r e e nt at i o n s a nd Wa rrant i e s o f D e b t o r : th e Debtor r ep r esents and warrants as fo ll ow:.. A . T h e D e b t or i s a co rp o ration dul y o r ga m ze d , va lidl y exis tm g and in good s t an dm g unde r the l aws o f t h e S t a t e of Del a w a r e . The De btor h as t h e co rp ora te po we r t o o w n i t s p rop e rt i es a nd L o c arry o n i t s bu s me s as now be m g co n du c ted . B T h e D e b tor h as a ll r e qui s i t e corporate p ow e r a nd a ut h on ty t o ent e r i n to this Agreemen t a nd t o co n s u mm a t e the trans ac ti o n s co nt e m p l a t e d h e r e b y . The exec ut 10 n a nd d e l i v ery o f thi s Agr e e m en t a nd t h e co n s umm a ti o n of t he t ra n sac ti o n s c on t e mplated h e r eb y h a v e be e n d ul y a uth o n z ed by all necessary co rp ora t e a ct i on o n the pa 1 i o f t h e D eb t o r . Th e D e b t o r 's B oa rd of D irecto r s h as ap p ro v ed th i s Agre e m en t and th e t r an s acti ons con t em p la t e d h ere b y . T hi s Agr e e m e n t h a s b e en dul y exe cu t e d a nd delivered by t h e D e b to r a nd co n s t it ute s a v a li d a nd b i n din g ob li ga t i o n o f t he Deb t o r , e n fo r ceable in acco rd a n ce w ith i t s t e rm . , e x c e p t (a) a s l i mi ted by applicable bankru p tcy, in so l v en cy, r e or ga ni za t i on, m o rat o rium a n d other laws of ge n era l app h ca t 1 o n a ff ec tin g en forc e me nt of c r e dH ors' r i g h ts generally and (b) as ! u nit ed b y l a w s r e l a t m g to th e a v ai l a b i l i t y of s pe c ifi c performance . m Ju nct i vc r e li e f or o th e r e q uit a bl e r em e d i es . C Th i s Agreement 1 s t he l ega l , va lid a nd b 111 d 111 g o bli g a t ion o f the D e b tor , except a s !J m 1 t ed by a ppli ca bl e b a n k rup t cy, i n so l vency, and o t h e r s i m ilar l aws afTechng cred it o r s' ng ht s ge n e ra l l y . 8. R e pr ese ntation s and Wa r r a nti es o f Cr e di tor: Th e Cr e di t o r repr ese nt s and warrants as follows : A That t he Cre dit o r h a k n ow l ed ge a nd cx p e n e n ce 111 f i na n c ia l a nd b usi n e s matte r s and th a t h e und ers t an d Lh a l th e m e r its a n d nsks as o c i a t ed \ \ - i t h the execu t 10 n of th i s Ag r ee m e n t . {the rema 111d er of t l m page 1s 11 1 1 e 1111 o n al/ _ 1,lef t b l a n k) 3 (m1uals)

 
 

PROMISSOR Y NOTE 9. Eve nt s of Default: A In th e "E v e nt o f D ef au l t '' a s that t e rm i s d es cri bed m 9 ( 8 ) . the t otal a m o unt under du e und e r thi s A g r e em e nt s h a ll b ecome 1 m med 1 a 1 e l y due a nd pay abl e B. T h e 1 c m1 , " Elrn / of D efa 11 /1" s h a ll c on s ti t ute the foll o, \ 1n g sce n ario,: 1. Th e Co mpan y 1 s unable 1 0 ma k e an y o f th e p ay ment s '>pe c1fi ed m p ara graph 3 ( A ) . 11 . If th e D e btor s hall m a k e an a ss 1 g n 111 e nl fo r th e b e nefi t of cr e di tor : , o r s hall a dmit in wnting it s in a b ilit y t o pa y it s d e bt s as the y b ec ome due ; or 111 If the D e b t o r s ha ll fi l e a v oluntary p e t 1 t 1 o n i n b a nkrupt cy, o r s h a ll be th e s ub j e c t o f an in vo lu n tary bankrupt cy p e t 111 o n , or a dJud 1 c a t ed ba n k rupt or in so l v ent . or s h a ll fi l e an y pelill o n o r an s \ \ er se ekin g a n y r eo r ga ni za t 1011 arrangem e nt , eo m po si 11 o n . re a d j u s t m e n t . hq u 1 d a t 1 o n , d 1 ss olut 1 on , or s imilar re li ef und e r th e pre se nt or a n y futur e f e d era l Ba nkruptc y Code o r o th er appli c able fed e ral . s t ate o r s imilar s t a tut e , law or re g ul a t 1 0 11 , or s hall s e ek or co n se nt to or acq ui e s ce in th e a p pointm e nt o f an y tru s te e, r e ce l \ e r o r hqu 1 d a t o r of th e D e bt or o r o f a ll or any s ub s t antial part of 1 1 s a s se t s C.. N otice of Defa ult : I n th e event o f an ac tion t n g g enng an E vent o t D efa ult , the C r e dit o r s h a l l p r ompt!) no 11 f y t he Comp a n y b y U PS Ce rt ifie d Ma il o f th e Eve nt o f Default Th e C o mpan y : , ha ll ha \ . e t e n ( I 0 ) da ys from th e m a tlm g of th e Event of D e fault nollc e to c ur e t h e fa ent of D efau lt b y mak in g th e s p ec ifi e d pa y m e n t ( s ) 1 0 . ' \ otice s : A ll n o lt c cs, r e que s t s o r in truct 1 on s h e r e unde r s hall b e m wnt i n g a nd d e li vered p er s o n a ll y o r se nt by Fed[ x m a t! or s imil a r o , e mi g ht d e li \ ery , p o ta ge pre p a i d , a s fo ll ow s . l fto CORA L lfto BELLATORA C ora l I nve s t m en t Partn e r s , LP . At t . E n k S Ne l s o n 2030 P ov.e r s F e r ry R oa d SE S u ite # 21 2 Atla nt a , GA . 3 0 33 9 Bclla t ora, I nc . A tt. · A t om Mill e r , CEO I I 7 00 W e:, l Charl e - .t o n Bl \ d Sutte # 1 7 0 - 7 4 L as V e g as, V . 8 91 35 4 (m111a l s l

 
 

PROMISSORY NOTE 11. Governing La \ \ an d Ven u e : TI 1 e te 1 m s a nd pro v i sio n s of thi s l etter arc solely for the benefit of the I ssuer and Coral Capital Partn ers and their respect 1 \ e uccessors . as . ign s . heirs and p e rsonal repre se ntati \ es, and no other person shall acq uir e or have a n y nght by virtue of thi s l etter . Co r al Inve s tment P artner and the I ss uer agree th at any di s put e concern ing the interpretation, va hdn y, or enforceabili t y of thi s agreeme nt , and a n y action arising fr om any a ll eged breach hereof , s hall be adJ ud 1 cated exc l usively m State or Su p erior Co urt for th e county in which Coral Inve s tmen t P artners' principal exe cuti ve office s h all be l ocated at the ttme of in s lltut 1 on of s uch ac tion , o r in th e a pp l icabl e d 1 stnct and di vis i on of the U . S . D 1 s tn c 1 Court h aving \ enue for disputes m th a t same cou nt y . I n the eve nt of any liti ga tion a rising from or related t o thi s Agreement , or the crv 1 ccs provided under thi s Agreement, th e pre vai lin g part y s h a ll be entitled to recover from the non - prevailing party a ll reasonabl e cos t s incurred including s t aff ume , court co s t s, at t orney · s fees . and a ll other related expenses mcurred in s uch litigation . In the eve nt of a no - adj udicative settlement of litigation behveen the parties or a r eso lution of a dispute by arbitra t ion , the tenn "prevail ing party " s hall be determined b y that proce ss . 12. Share & Warra nt Purcha se : The Par 1 ies h e r e b y ag ree that as an mdu ce m e nt t o enter int o this Promissory No t e Agreeme nt , Coral s h all h ave t h e nght t o purchase and shall purchase the following : A Common Shares One Ilun dred Mi ll ion ( I 00,000,000) common share a t an aggregate pric e of $ 1.000 ; a nd B Class A Warran t s· Fifty Mi llion (50,0 00 , 000) Class A Warrants at an aggregate pnce of $500, and Class B Warrants Fifty Mi lli on (50,000, 000 ) Cla B Wa r ra nt s at an aggrega t e pnce of $500, and C 13 . Entire Agreeme nt : Thi s Agreeme nt . inc l uding a l l exh i bit s a nd schedu l es attached thereto , exec uted o n eve n date here wit h , con s ti t ute s th e full a nd enti r e understanding and agree m e nt b etwee n the p a rti es with r ega rd to t he Debt , and no party shall be liable or bound to any ot h e r part y in any m an ner b y an y representations , warra n t ie s, cove nants a nd agree ment s . J 4 . Seve rabilit) : The imalid 1 t y o r un foreeabi l 11 y of a n y p rov i s ion of t hi . l e tt er hall not affect the va lidit y or enfo rce abi l ity o f a n y o th er pr ov 1 s 1 om, of th i lett er, "hich shall remam in ful l f o r ce and effec t 15 . Co unterpart s/E lectronic Sig n a tur es : Thi s Agreement m ay be e , ec ut ed Ill counterparts a ll of which t oge ther s hall co n st itut e o n e agreement b 111 dmg on all the p artie hereto . not w 11 hstand 111 g that all suc h p art i es are not 5 (m 111 alsJ

 
 

PROMIS S OR Y N OT E rn 1 g mal or th e sa m e to unt e q x irt. f - .i c, 1 m i lc or elcctwn1cul l y tran m111cd s 1 g n u tur es s hull be <l cc m c <l c ll c tt1 vc a:. o n g m JI&. 16. A uthoril) / Ca p ac iti es / En ti tic : Ca c h p en,0 11 s i g nm g thi s Ag r eeme n t rcprc cnt a nd \ \ a rran ts th a t he o r s h e h as c ompl e t e a uth o nt y and l ega l capac..1 1 ) t o enter into th i..,Ag 1c e mcnt o n b e half of the c n11t) fo r w hich he o r s h e 1 s s 1 g11 111 g, an<l Jgree:. t o defend . ind e mni fy. a nd hold h a nnle ss a ll other partie s 1f th a t a ut ho ri ty or ca pa c it y i s c hall e n ge d 17. K n o " ing and V olunt ary Ag r e em e nt · T h e Parties r e pre se nt th ey h a \ e r ead thi s Ag 1 ce m e nt , und e r s t a nd 11, ,olunt a r i l y a g r ee to i t s tenn s, a nd S l f,'11 11 fr eely. I \ \ I T.NESS WHEREOF . th e p ar t i es hereto have e xe cut e d thi s Ag reem e n t on the date first above w ri ll e n Agreed t o and Accep t ed this 19th da} of Jun e I 8 th , 2 0 2 1 Enk S e l so n Presiden t of the Genera l P a rt ne r Coral Im estme n t P artne r s, L P 6 (m111al s )