LOAN AGREEMENT

Parties wish to enter into a contract onApril 20, 2022

Borrowing party:

ABC Inc.

12140 Bridgeport Rd, B.C.V4X56K

Party giving loan:

Terry Tighe

5897 15the Street, Delta, B.C.V8P5G9

General facts:

• The borrowing party wants to further its business by buying DJ equipment and invest in marketing, promotion and branddevelopment.
• Amount:$50,000.
• The party giving loan has agreed to loan for purpose borrowing party wants as per terms of thisagreement.

Terms:

• William is the CEO and director ofABCInc.
• Loan amount: $50,000, with 10% annual interest, calculatedmonthly.
• Repayment: monthly on 15^th of each month; starting next year, same day:April 20, 2023; blended interest and principal payment: $4,230.77.
  • Cheque.
  • Principal mandatory; interestoptional
  • Any unpaid interest must be paid within the 2023year.
• No accelerationclause.
• The borrowing party may pay the entire if it wishes - no "catch" (ie, penaltiesetc.)
• If the borrowing party default on a principal payment, then the party giving the loan may ask for the entire loan amount if it wishes. This can include enforcement on assets and etc.
  • The Personal Property Security Act(British Columbia) (the "PPSA") shows all corporate assets, but the party giving the loan has been made aware of this fact and wishes not to do a PPSAsearch.
• Good faith clause - do anything else needed to make the agreement work.
• Any notice of anything that needs to be given to either side should be done by mail to address of each party - 3 days after posting, notice considereddelivered.
• Time is important in thisagreement.
• BC Law applies to thisagreement.
• Severability clause - in case one or more parts are said to invalid orunenforceable.
• This agreement is entire agreement and no changes allowed unless in writing and signed just like this agreement issigned.
• This agreement should have witnesses for eachsignature

Please draft Comprehensive Loan Agreement with all clauses which cover all above contents.