Promissory Note Generator

FOR VALUE RECEIVED, the undersigned, Jordan Ellis, of 512 Willow Ave, Denver, CO 80203 (“Borrower”), promises to pay to the order of Morgan Reyes, of 1044 Pine Street, Boulder, CO 80302 (“Lender”), the principal sum of Ten Thousand Dollars ($10,000.00), together with interest thereon as set forth below.

1. 1. Payment Terms. Borrower shall pay the principal and interest in equal monthly installments of $188.71, beginning on 2026-07-14 and continuing on the same day of each month thereafter, until the entire balance of principal and accrued interest has been paid in full. All remaining principal and accrued interest, if any, shall be due and payable in full on or before 2031-06-14.

2. 2. Interest. Interest shall accrue on the unpaid principal balance at an annual rate of 5.00%, computed on the basis of a 365-day year for the actual number of days elapsed. All payments shall be applied first to accrued interest and then to principal.

3. 3. Late Fee. If any payment required under this Note is not received by Lender within ten (10) days after its due date, Borrower shall pay a late fee equal to five percent (5%) of the missed payment amount, in addition to any other remedies available to Lender.

4. 4. Prepayment. Borrower may prepay all or any portion of the outstanding principal at any time without penalty. Each prepayment shall be applied first to accrued interest and then to principal.

5. 5. Collateral. This Note is unsecured and is not backed by any collateral.

6. 6. Default. If Borrower fails to make any payment when due, or otherwise breaches any term of this Note, Lender may, at its option and without further notice or demand, declare the entire unpaid principal balance and all accrued interest immediately due and payable. Borrower shall pay all reasonable costs of collection, including attorneys’ fees, incurred by Lender in enforcing this Note.

7. 7. Governing Law. This Note shall be governed by and construed in accordance with the laws of the State of Colorado, without regard to its conflict of laws principles. Borrower waives presentment, demand, protest, and notice of dishonor.

IN WITNESS WHEREOF, Borrower has executed this Promissory Note as of the Execution Date first written above.