Investment in Business Promissory Note by bxq91160

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									      PENSCO             PROMISSORY NOTE
      T R U S T
      COMPANY            INVESTMENT KIT
penscotrust.com          TABLE OF CONTENTS
takecontrol@pensco.com
                         Promi ssory Note Ch e ck l i s t
866.818.4IRA(4472)       Promi ssory Note Auth o r i za ti o n
                         Promi ssory Note S e r v i ci n g Agr e e me n t
                         Payment and F un d i n g I n s tr ucti o n s




                         MAILING ADDRESS
                         Pl ease ret urn o r i gi n a l s to :


                                   Regula r D e liv e ry                             O v e rnight D e liv e ry

                         P.O. B ox 26903                                    4 5 0 S a n s o me S tr e e t F l o o r 1 4
                         San Franci sco, CA 9 4 1 2 6 - 6 9 0 3             S a n F r a n ci s co , CA 9 4 1 1 1 - 3 3 0 6
             PE N SC O T RUS T C OMPANY
             w w w .penscotrust.com
                                                                                                           Promissory Note
             866-818-4IRA (4472)
             450 Sansome Street, Fl. 14
                                                                                                                 Checklist
             San Francisco, CA 94111-3306




      Use this guide when investi ng i nt o an unsecured pr om i s s or y not e w i t hi n your PEN SC O T r us t A ccount .



Overview
1. The A c c o u n th o lde r m ust r e ad, appr o ve and sign all do c u ment s befo re fo rwarding t hem t o PENSCO
   Trust fo r t h e c u st odial sig nat u r e . T he sig ne d do c u ment s will t hen be ret u rned, alo ng wit h t he funds, to
   the re c ipie n t in dic at e d on t he Paym ent and Funding Ins t ruct ions fo rm.

2. A ll do c u me n ts m ust be ve st e d:
      For IRAs: PENSCO Trust Company Custodian FBO ‘Accountholder Name’ IRA ‘PENSCO Account #’
      For Solo(k)s: PENSCO Trust Company Custodian of ‘Plan Name’ FBO ‘Accountholder Name’,
                    ‘PENSCO Account #’

3. When the lender’s Tax ID or physical address is required on documents, use PENSCO Trust’s
   information:
   Tax ID: 02-0526633
   Address: PENSCO, Inc., 450 Sansome Street, 14th Floor, San Francisco, CA 94111 -3 3 0 6

4. Intere st rat e i s re q u ir e d f or a ll not e s . P le a se ensu re t he ra t e c o mp lies w it h u su ry ra t e la w s of the
   bo rro w e r’s state of r e s id e nc e .

5. E i t h e r a m a t u r i t y d a t e o r t e r m l e n g t h i s r e q u i r e d b e f o r e a n o t e m a y b e f u n d e d .

6. If fundi n g i s do n e v ia wir e , d oc um e nt s t ha t need t o b e signed w ill b e ret u rned v ia o v ernight d el i ver y
   ($ 1 8 f e e ) u n l e ss o t he r ins t r u c t ions a r e ind ic a t ed o n t he P a yment a nd Fu nding I nst ru c t io ns for m.

7. $ 1 0 0 m i n i m u m ba la nc e is r e q uir e d in a c c o u nt (less fu nding, w ire, a nd o v ernight fees).


  A l l Docum ent s may be e-mai l ed to r eal es tat e@ pensco.com or
  f axed to 415- 956- 3016, A ttn. Real Es tat e Depar tm ent.

Required Documentation and Other Information

  Promissory Note to an Individual:
1. Prom i s s or y N ot e A ut hor i zat i on :
   A utho rize s PEN SC O T r ust t o f u nd t he not e wit hin yo u r self-direc t ed Ac c o u nt .

2. Prom i s s or y N ot e Ser vi ci ng A gr eement :
   PENSC O Tru st do es not se r vic e an y lo an s (i.e., t rac k loan payment s, han dle defaults, fo reclosur es, etc.).
   Bo th A c c o u n th o lde r an d t he not e se r vic er mu st sign.

3. Paym ent and F undi ng I ns t r uct i ons : Fu nding c an be made by e it her wire, c hec k , o r ACH.
   Fo r “ In ve stme n t N am e ” ple ase in dic at e t h e bo rro wer’s n ame.

4. Copy of Pr om i s s or y N ot e w i t h bor r ow er ’s s ignature notariz ed (o riginal no t e is required aft er funding).


  Promissory Note to a Business Entity:
F or a p r om i s s or y no t e t o a b u s i n e s s e n t i t y , we n e e d t o re c e ive it e m s 1- 4 abo ve , plu s t h e re quired
do cuments a s outl i n e d i n t h e P r i v a t e In v e s t me n t Su bm is s io n Gu ide lin e s lo c at e d at
www .p ens cotr us t. co m / fo r m s .


If you have any f ur t her ques t i ons , pl eas e f eel f ree to contact C lient Services at 800- 969- 4472.
You may f i nd al l of t he above f or m s at : w w w . penscot rus t . com / f orm s

TC-PNC-07-1010                                                                                                                               Page 1 of 1
                     PEN SC O TRUST C OMPANY
                     Please return b y :
                                                                                                                              Promissor y Note
                     F a x : 415-956-3016
                     Regular Mail:
                     P. O. Bo x 26903
                                               Overni ght Delivery O nly:
                                               450 Sansome Street , Fl. 14
                                                                                                                                 Authorization
                     San Francisco, CA         San Francisco, CA                                                                               w w w . pe nscotrust.com
                     94126-6903                94111-3306
                                                                                                                                                           8 0 0 -9 6 9 -4 4 7 2


           Use this form to authorize a promissory note not secured by collateral.
           IMPORTANT: Please refer to the vesting and other instructions on our Promissory Note Checklist.

    Te rms D ef ined:
           Th e “I RA Owner” a nd “S ol o( k ) P a r ti ci p a nt” a r e r e f e r r e d t o a s : “ A c c o u n t h o l d e r ”
           “IRA ” or “Solo(k) P l a n” a r e r efer r ed to a s: “A c c o u n t ”

1. Accountholder Information
                                                                                                                        A ccount #:



Accounthol der’ s Firs t N am e                                                         M.I.     L as t


2. Note Information


$                                                       Inter est R a te:                                               Maturity Date:
                                     .
D o llar A m ount                                                                                                                        M M        D    D      Y     Y   Y   Y

3. Borrower Information
For a borrower that is an individual:


Bo rro w e r’ s Firs t Name                                                            M.I.     L as t

Borrower’s Social Security #:

OR
For a borrower that is a Corporation, LP, LLC, or Other Entity:


Bo rro w ing Entity Name

Borrowing Entity’s Tax ID #:


5. Authorization
I understan d t h at I a m r e s p ons ib le ( a nd P ENSCO Tru st Co mp a ny a nd P ENS CO, I nc . a re no t res pons i bl e) for
sel ecti n g an d re vi e wing t he a b ov e inv e s t m ent (s) a nd fo r det ermining t he su it a b ilit y, na t u re, val ue, r i s k,
sa fety an d m e ri ts o f a ny inv e s t m e nt ( s ) t ha t I a u t ho riz e P ENS CO Tru st t o ma k e fo r my Ac c o u nt .
I understan d t h at P EN S C O T r us t C om p a ny and P ENS CO I nc . neit her endo rse no r rec o mmen d the above
inv es tm e n t, an d I t he r e f or e r e le a s e a nd ho ld P ENS CO Tru st Co mp a ny a nd P ENSCO I nc . ha rml es s fr om al l
c l a i ms ari si n g o u t o f m a k ing s u c h inv e s t m e nt s.
I agree th at an y dis p u t e r e g a r d ing t his invest ment sha ll b e su b mit t ed t o b inding a rb it ra t ion at J AM S i n
Bo ston, M A o r S an F r a nc is c o, C A a t P EN S C O Tru st ’ s disc ret io n, a nd t he p rev a iling p a rt y sha ll be enti tl ed to
recov er al l l e gal f e e s , r e a s ona b le c os t s a nd ex p enses. These sha ll b e in a ddit io n t o a ny a w a rd of d amage
or a ny o th e r re l i e f t o whic h t he p r e v a iling p a rt y is ent it led.
I repres e n t th at th e a b ov e inv e s t m e nt is not a p ro hib it ed t ra nsa c t io n, a s defined in t he I nt er nal Revenue
Code a n d IR S an d De p a r t m e nt of L a b or r e g u la t io ns.
I a gree t o fo l l o w any g uid e line s a p p lic a b le t o t his inv est ment a s ma y b e req u ired b y P ENS CO T r us t.


AUTHORIZED BY:
                                                        P r i nted N a me o f A u t h o r i z i n g Pa r t y
     Accountholder
     Account’s Designated
     Representative                                     A uthor i zi ng P a r t y Si g n a t u r e (R e q u i r e d )                                        Da t e

T F- P N A - 0 4 - 0 2 0 9                                                                                                                                          P age 1 of 1
             PEN SC O TRUST C OMPANY
             Please return b y :
                                                                                                           Promissor y Note
             F a x : 415-956-3016
             Regular Mail:
             P. O. Bo x 26903
                                       Overni ght Delivery O nly:
                                       450 Sansome Street , Fl. 14
                                                                                                      Servicing Agreement
             San Francisco, CA         San Francisco, CA                                                                                    w w w . pe nscotrust.com
             94126-6903                94111-3306
                                                                                                                                                        8 0 0 -9 6 9 -4 4 7 2


         Use this form when funding an unsecured promissory note within your PENSCO Trust Account.

         Please Note: You may substitute a signed copy of your Note Servicer’s own agreement for this form.


1. Account holder Information                                                                                  A ccount #:


A ccountholder’ s Firs t N am e                                                M.I.      L as t


2. Note Servicer Information
If the Note Servicer has their own note servicing agreement, a copy signed by both the Accountholder and the Note
Servicer may be substituted in lieu of this form. In either case, a note servicing agreement must accompany each
Promissory Note Authorization.
PENSCO Trust Company is not responsible for any note servicing function, note collection, or payments due on any note.
It is also not responsible for late payments, late fees, default on the note, filing a notice of default or any part of the
foreclosure process other than signing documents upon the written instruction of the Accountholder or their Designated
Representative. For this reason, we require that a note servicing agreement be provided for all notes funded by a
PENSCO Trust Account. You may use this form as your note servicing agreement, or you may furnish a copy of an
agreement provided by your note servicer.
  The Note Servicer can be an independent agent/broker or the note can be serviced by the Accountholder. If the
  Accountholder services the note, write ‘Self’ in the “Note Servicer” field below.
  The Note Servicer agrees to forward promptly to PENSCO Trust Company all payments received for this note and
  record all payments received from the borrower. In addition, the Note Servicer will allow all parties to review these
  records upon request. On all notes, and particularly on amortized notes, the Note Servicer will keep track of current
  balance owed.
  PENSCO Trust Company must be advised immediately upon any default by the borrower on this note.
  In the event of a default, the Note Servicer agrees to take immediate action to correct the default.
  All funds received for this loan by the Note Servicer will not be commingled with any other funds.
  Note Servicer agrees to provide borrower with an interest statement for tax purposes as required.
  Note Servicer agrees to prepare or arrange for the preparation of any demand for payoff of this note, upon request
  of the borrower.

The original note and all related documents must be vested as follows:
  For IRAs: PENSCO Trust Company Custodian FBO ‘Accountholder Name’ IRA ‘PENSCO Account #’
  For Solo(k)s: PENSCO Trust Company Custodian of ‘Plan Name’ FBO ‘Accountholder Name’, ‘PENSCO Account #’
All borrower checks must be payable to “PENSCO Trust FBO ‘Accountholder Name or Plan Name,’ Account #”
on the payee line.
Make sure to:
    Include note name in memo field/check voucher.
    Include payment breakdown (interest, principal, etc.) in memo field/check voucher.


N o t e S e r vicer C ontact N am e                                                   N o t e Se r vi c e r C o m p a n y N a m e (i f a n y )

Address Type:          Ho m e         Busin e ss    A ddr ess:

Cit y:                                                                                St at e:                    Zi p C ode:

Phone #:                                             Ext .:                           F ax #:




                                               P r i nted N a me o f A u t h o r i z i n g Pa r t y
AUTHORIZED BY:
   Accountholder                               A uthor i zi ng P a r t y Si g n a t u r e (R e q u i r e d )                                              Da t e
   Account’s Designated
   Representative
                                               P r i nted N a me o f N o t e Se r vi c e r C o n t a c t


                                               N ote S er v i cer C o n t a c t Si g n a t u r e (R e q u i r e d )                                       Da t e

TF-PNSA-01-0209                                                                                                                                                 P age 1 of 1
                      PEN SC O TRUST C OMPANY
                      Please return b y :
                                                                                                               Payment and Funding
                                                                                                                        Instructions
                      F a x : 415-956-3016
                      Regular Mail:            Overnight Deliver y O nly:
                      P. O. Bo x 26903         450 Sansome Street , Fl. 14
                      San Francisco, CA        San Francisco, CA                                                                                     w w w . pe nscotrust.com
                      94126-6903               94111-3306
                                                                                                                                                                 8 0 0 -9 6 9 -4 4 7 2


    If funding an investment, use this in conjunction with our Investment Authorization Form
    A STOP PAYMENT CANNOT BE PLACED UNTIL 4 BUSINESS DAYS HAVE ELAPSED FROM THE ISSUANCE OF THE ORIGINAL CHECK.


1. Account / Payment Information                                                                                        A ccount #:


Account holder’ s Firs t N ame                                                            M.I.       L as t


Pr imary Phone #                                   P ur p ose of P a y m e n t (e.g., “Mem bersh i p i n L L C ,”                M e m o / R e f e r e n c e (Escro w # , A P N # ,
                                                   “Purc hase Propert y,” “Expen se Paym en t” )                                 In vo i ce #, Po l i cy #, Acco u n t # )

                                                                                                                                                       $
                                                                                                                                                                                  .
Name of Investment (i.e., name of asset if LLC, LP or C-Corp, see checklist for real property or notes )                                               Amount

2. Payee Information

P aye e ’s Name
Address Type:                  Ho m e        Busin e ss     A ddress:

Cit y:                                                                                    St at e:               Zi p C ode:


3. Funding Instructions                       Select method

       VIA WIRE                     VIA ACH                                                                   VIA CHECK        (No fee for regular mail and pick-up options,
                                                                                                                               $18 fee for overnight mail)
($30 fee for wires)
                                                                                                              Check One:
                                                                                                                 Pick-Up By:
Ban k Name                                                                                                                      Printed Name


                                                                                                                                Signature (upon pick-up)
B an k Add res s
                                                                                                                 Mail Check to Payee Address (above)

Cit y                                                      S ta te     Zip Code                                  Mail Check to:


Phone #:                                                                                                      Name

A BA/Ro uting #:
                                                                                                              Address
B an k Ac count #:
                                                                                                              City                                           St a te     Zi p Cod e
O t h e r In structions :
                                                                                                                 Overnight Check to Above Address
                                                                                                                 (Physical Address only; Fee $18)

4. Authorization                   Must be authorized by either the Accountholder or a Designated Representative for the Account
                                   on file with PENSCO Trust Company.
I agree to release, indemnify, defend, and hold PENSCO Trust harmless for any claims arising out of this payment. This
includes, but is not limited to, claims that this payment is not prudent, proper, legal, or diversified. I also understand and
agree PENSCO Trust will not be responsible to take any action should the investment noted herein become subject to
default, including fraud, insolvency, bankruptcy, or other court order or legal process. These Payment and Funding
Instructions are further subject to all terms and conditions of the accountholder’s Custodial Agreement with PENSCO
Trust and all applicable State and Federal laws.

AUTHORIZED BY:
     Accountholder                                    P r i nted N a me o f A u t h o r i z i n g Pa r t y
     Account’s Designated
     Representative                                   S i g na tur e ( R eq u i r e d )                                                                             Da t e

For Office Use Only:
Asset ID:                                         Tran Code:                                          FW Officer:                            Additional Inv.               Overnight

Processed By:                                     Notes:                                                                                 Date:
T F - P FI - 0 7 - 0 1 1 0                                                                                                                                                   P age 1 of 1

								
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