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22164_Umland_Promissory_Note.docx

Generated 2026-07-01T16:39:32.685095+00:00 from live Dropbox Public folders.

Description

PROMISSORY NOTE Secured by Second Position Deed of Trust Principal Amount: $208,000.00 Date: June 10, 2026 1. PROMISE TO PAY FOR VALUE RECEIVED, Beagle LFTY0454 DAO LLC, a California limited liability company (the "Borrower"), promises to pay to the order of Jimmy Murray (the "Lender"), the principal sum of TWO HUNDRED EIGHT THOUSAND DOLLARS ($208,000.00), with no interest charged. 2. SECURITY This Promissory Note is secured by a second position Deed of Trust (the "Security Instrument") on the r

Extracted Content

PROMISSORY NOTE Secured by Second Position Deed of Trust Principal Amount: $208,000.00 Date: June 10, 2026 1. PROMISE TO PAY FOR VALUE RECEIVED, Beagle LFTY0454 DAO LLC, a California limited liability company (the "Borrower"), promises to pay to the order of Jimmy Murray (the "Lender"), the principal sum of TWO HUNDRED EIGHT THOUSAND DOLLARS ($208,000.00), with no interest charged. 2. SECURITY This Promissory Note is secured by a second position Deed of Trust (the "Security Instrument") on the real property located at: 22164 Umland Circle, Jenner, CA 95450 County: Sonoma County, California APNs: 109-420-030-000 and 109-420-031-000 The Security Instrument is junior to existing first position lien(s) totaling approximately $785,000.00. 3. REPAYMENT TERMS 3.1 Payment from Sale Proceeds The Borrower shall repay the Principal Amount to the Lender from the proceeds of any sale, refinance, or other disposition of the Property, subject to the following priority: (a) First, payment of costs of sale and closing costs; (b) Second, payoff of all first position lien(s) (currently approximately $785,000.00); (c) Third, payment to the Lender of the Principal Amount ($208,000.00), representing a 1