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promissory note - daniel murrey - 2025-06-17 - 85-104 alawa pl, waianae, hi 96792.pdf

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PROMISSORY NOTE Loan Amount: $7,000 Loan Date: June 17, 2025 For value received, the undersigned Poodle LFTY0452 DAO LLC (the "Borrower"), promises to pay to the order of Daniel Murrey (the "Lender"), the sum of seven thousand dollars ($7,000) with interest from June 10, 2025, on the unpaid principal at the rate of fifteen percent (15%) per annum, compounded annually. The loan shall be advanced for business purposes in connection with the property located at 85-104 Alawa Place, Waianae, HI 96792 (the “Property”) and jointly serviced by Lofty AI, Inc. and ECO Systems, LLC (“Servicer”). I. TERMS OF REPAYMENT A. Payments The unpaid principal and accrued interest shall be payable in monthly installments, beginning on July 17, 2025, and continuing until June 17, 2026, (the "Due Date"), at which time the remaining unpaid principal and interest shall be due in full. The monthly installment payments of principal and interest shall be six hundred seventy dollars and eighty-three cents ($670.83). B. Acceleration of Debt If the Borrower is in default under this Note or is in default under the security instrument securing repayment of this Note, and such default is not cured within 5 days after written notice of such default, then Lender may, at its option, declare all outstanding sums owed on this Note to be immediately due and payable, in addition to any other rights or remedies that Lender may have under the security instrument or state and federal law. II. PREPAYMENT The Borrower reserves the right to prepay this Note (in whole or in part) prior to the Due Date with no prepayment penalty. Any such prepayment shall be applied against the installments of principal due under this note in the inverse order of their maturity and shall be accompanied by payment of accrued interest on the amount prepaid to the date of prepayment. III. COLLECTION COSTS Borrower shall pay all costs incurred by Lender in collecting sums due under this Note after a default, including reasonable attorneys’ fees. If Lender or Borrower sues to enforce this Note or obtain a declaration of its rights hereunder, the prevailing party in any such proceeding shall be entitled to recover its reasonable attorneys’ fees and costs incurred in the proceeding (including those incurred in any bankruptcy proceeding or appeal) from the non-prevailing party. Doc ID: a35706bb5c732c4f4ad0ab77611b9f11ab325c99 IV. DEFAULT If any of the following events of default occur, this Note and any other obligations of the Borrower to the Lender, shall become due immediately, without demand or notice: 1) the failure of the Borrower to pay the principal and any accrued interest when due; 2) the liquidation, dissolution, incompetency or death of the Borrower; 3) the filing of bankruptcy proceedings involving the Borrower as a debtor; 4) the application for the appointment of a receiver for the Borrower; 5) the making of a general assignment for the benefit of the Borrower's creditors; 6) the insolvency of the Borrower; 7) a misrepresentation by the Borrower to the Lender for the purpose of obtaining or extending credit; or 8) the sale or transfer of a material portion of the business or assets of the Borrower. V. DEFAULT INTEREST To the extent permitted by law, matured unpaid principal and interest on this Note (whether maturing at the normal scheduled payment date or maturing by reason of acceleration or otherwise) will bear interest from the date of maturity until paid at a rate equal to the lesser of: (i) the maximum rate of interest permitted by law, and (ii) twelve percent (12%) per annum. To the extent permitted by law, three (3) months of default interest must be paid within sixty (60) days following maturity. All interest calculated under this Note will be computed based on an assumption of a 30-day month and 360-day calendar year. VI. LIQUIDATION In the event of a default, Lender shall have the option to force Borrower to liquidate the Property via sale, whether on-market or otherwise, within a six (6)-month period (the “Sale Period”). The Sale Period shall commence immediately. If the Property is not sold within the Sale Period, at Lender’s discretion, either 1) dilutive equity shares of the Property shall be issued and transferred to the Lender at a par value of $50.00 per share, or 2) Lender shall force a foreclosure through which the property will be auctioned off to the highest bidder, and proceeds used to repay any unpaid principal balance and accrued interest. Default interest will continue to accrue on the unpaid principal balance and accrued interest throughout the cure periods and the Sale Period. VII. NOTE EXTENSION Provided that no default then exists under this Note, Borrower, at Lender’s sole discretion, shall have Doc ID: a35706bb5c732c4f4ad0ab77611b9f11ab325c99 the option to extend the Due Date upon payment. Borrower must provide written notice thereof to Lender not less than fifteen (15) days prior to the then-applicable Due Date. VIII. SEVERABILITY OF PROVISIONS If any one or more of the provisions of this Note are determined to be unenforceable, in whole or in part, for any reason, the remaining provisions shall remain in full force and effect. IX. AMENDMENT OR MODIFICATION; TRANSFERABILITY This Note may not be modified or amended in any way by either party without the prior written consent of the other party. There are no verbal or other agreements which modify or affect the terms of this Note. This Note and any interest herein may not be sold, transferred, or assigned by Borrower or Lender without the prior written consent of the other party. X. NOTICE Any notices required or permitted to be given hereunder shall be given in writing and shall be delivered (a) in person, (b) by certified mail, postage prepaid, return receipt requested, (c) by facsimile, or (d) by a commercial overnight courier that guarantees next day delivery and provides a receipt, and such notices shall be made to the parties at the addresses listed below. XI. EXECUTION The Borrower executes this Note as a principal and not as a surety. If there is more than one Borrower, each Borrower shall be jointly and severally liable under this Note. XII. MISCELLANEOUS All payments of principal and interest on this Note shall be paid in the legal currency of the United States or equivalent stablecoin or cash equivalent. The Borrower waives presentment for payment, protest, and notice of protest and demand of this Note. No delay in enforcing any right of the Lender under this Note, or assignment by Lender of this Note, or failure to accelerate the debt evidenced hereby by reason of default in the payment of a monthly installment or the acceptance of a past-due installment shall be construed as a waiver of the right of Lender to thereafter insist upon strict compliance with the terms of this Note without notice being given to Borrower. All rights of the Lender under this Note are cumulative and may be exercised concurrently or consecutively at the Lender's option. XIII. GOVERNING LAW This Note shall be construed in accordance with the laws of the State of Wyoming. XIV. SIGNATURES Doc ID: a35706bb5c732c4f4ad0ab77611b9f11ab325c99 IN WITNESS WHEREOF, this Agreement has been executed and delivered in the manner prescribed by law as of the date first written above. Signed this 17th day of June, 2025. Borrower: Poodle LFTY0452 DAO LLC 30 N Gould St. Ste R, Sheridan, WY 82801 By: ____________________________________ Jerry Chu, Authorized Signer 06 / 17 / 2025 Date: _________________ Lender: Daniel Murrey 425 Pinson Rd. Ste M PMB 1132 Forney, TX 75126 By: ____________________________________ Daniel Murrey 06 / 17 / 2025 Date: _________________ Servicers: Lofty AI, Inc 66 W. Flagler St. #900, Miami, FL 33130 By: ____________________________________ Jerry Chu, CEO 06 / 17 / 2025 Date: _________________ and ECO Systems, LLC 500 Westover Dr. #33191, Sanford, NC 27330 By: ____________________________________ Earl V. Co, Manager 6/17/2025 Date: _________________ Doc ID: a35706bb5c732c4f4ad0ab77611b9f11ab325c99 June 17, 2025 Governance Vote for 85-104 Alawa Pl: The governance results are back for the governance vote proposed by the co-owner and Property Manager, Earl Co. The winning vote is: Approve Current Backer’s Terms (15% APR, amortized over 12 months, as drafted) This was voted on in Round 1 with 78.1% of the voting power. This is a co-ownership property, which means the governance mechanism used the scaled governance calculations as opposed to the default of 1 token equals 1 vote. The voting results can be found on chain here or by searching the application ID: 3079593083 Cheers, The Lofty Team 66 W. Flagler Street #900 Miami, Florida 33130 Doc ID: a35706bb5c732c4f4ad0ab77611b9f11ab325c99 Loan Agreement - 85-104 Alawa Pl, Waianae, HI 96792 Loan Agreement - ...nae, HI 96792.pdf a35706bb5c732c4f4ad0ab77611b9f11ab325c99 MM / DD / YYYY Signed 06 / 17 / 2025 Sent for signature to Daniel Murrey 22:25:25 UTC (daniel.murrey@gmail.com) and Jerry Chu (pm@lofty.ai) from earlvanze@gmail.com IP: 2601:282:1:560:f1b0:741a:3ee2:74ed 06 / 17 / 2025 Viewed by Daniel Murrey (daniel.murrey@gmail.com) 22:39:54 UTC IP: 148.222.203.133 06 / 17 / 2025 Signed by Daniel Murrey (daniel.murrey@gmail.com) 22:46:54 UTC IP: 148.222.203.133 06 / 18 / 2025 Viewed by Jerry Chu (pm@lofty.ai) 02:08:21 UTC IP: 99.8.160.48 06 / 18 / 2025 Signed by Jerry Chu (pm@lofty.ai) 02:10:22 UTC IP: 99.8.160.48 06 / 18 / 2025 The document has been completed. 02:10:22 UTC