TERM SHEET Re Investment by Fonu2, Inc. In the Motion Picture "Mara" (January 20th, 2016)
This term sheet (the "Term Sheet") sets forth the material terms and conditions of the agreement by and between Fonu2, Inc. d/b/a Moon River Studios ("MRS") of 135 Goshen Road Ext. Suite 205, Rincon, GA 31326 and The Solution Entertainment Group, LLC ("SEG") of 6525 Sunset Blvd, Bungalow GS4, Los Angeles, CA 90028 and Mann Made Films Limited ("MM") of C/o Nelson Davis, LLP, 233 Wilshire Blvd, Suite 900, Santa Monica, CA 90401 (SEG and MM together "SEGMM") (SEG, MM, SEGMM and MRS are sometimes each referred to herein as a "Party" or together referred to herein as the "Parties") with respect to MRS's investment in the motion picture presently titled "Mara" (the "Picture") based on the screenplay by Jonathan Frank dated November 21, 2014 (the "Screenplay").
LOAN AND SECURITY AGREEMENT Dated as of January 5, 2016 by and Among HUTTON VENTURES, LLC, as Lender and FONU2, INC., D/B/A Moon River Studios, MOON RIVER RENTALS, LLC Formerly Studioplex City Rentals, LLC and STUDIOPLEX CITY CREWS, LLC, Together as Borrowers (January 20th, 2016)
THIS LOAN and SECURITY AGREEMENT (as the same may from time to time hereafter be modified, supplemented or amended, this "Agreement"), dated as of January 5, 2016 2015 (the "Closing Date"), is made by and among Hutton Ventures LLC, a Delaware limited liability company ("Lender"), and FONU2, Inc. a Nevada corporation ("FONU"), Moon River Rentals, LLC, formerly Studioplex City Rentals, LLC, a Georgia limited liability company ("Moon River") and Studioplex City Crews, Inc., a Georgia corporation ("Studioplex") (together "Borrowers")
Amended (November 25th, 2015)
FONU2, INC., a corporation organized and existing under the laws of the State of Nevada, hereby certifies that the following resolution was duly adopted by the Board of Directors of the Company effective as of February 8, 2015:
Mutual Release Agreement (November 6th, 2015)
This mutual release agreement ("Release") is made and entered into as of November 4, 2015, by and between Studioplex City, LLC a Georgia corporation ("SC", "Party"), and Nutmeg Productions, Inc. and Parkway Productions, Inc. (together "NP&PP", "Party" "Parties").
Promissory Note (July 8th, 2015)
FOR VALUE RECEIVED, Studioplex City Rentals, LLC, a Nevada limited liability company (the "Obligor"), hereby promises to pay to the order of Apple Box Productions, Inc., a Florida corporation (the "Holder"), the principal sum of Five Hundred Ninety-Four Thousand Dollars ($594,000), together with interest on the outstanding principal balance hereof at the rate provided herein. This is the "Note" referred to in that certain Purchase and Sale Agreement by and between Holder and Obligor dated of even date herewith (the "Purchase Agreement"). Capitalized terms used and not otherwise defined herein shall have the meanings assigned to them in the Purchase Agreement. This Note shall be governed by the following provisions: