FOR VALUE RECEIVED , the undersigned Global Clean Energy, Inc., a Maryland corporation (“Maker”)
promises to pay to the order of Vision Capital Partners AA., Ltd. (“Lender”), at its principal office, or at such
other place as may be designated in writing by the holders of this Promissory Note (“Note”), the principal sum of
EIGHTY THOUSAND 00/100 DOLLARS ($80,000.00) (the “Principal Sum”). The unpaid Principal Sum shall
bear interest at 7.5% per annum and shall be due in twelve (12) months.
All payments to be made under this Note shall be payable in lawful money of the United States of America
which shall be legal tender for public and private debts at the time of payment.
In the event that an action is instituted to collect this Note, or any portion thereof, Maker promises to pay all
costs of collection, including but not limited to reasonable attorneys’ fees, court costs, and such other sums as the
court may establish.
In the event of a default under this Note when due, then the holder of this Note, at its election, may declare the
entire unpaid Principal Sum due and payable.
Every provision hereof is intended to be several. If any provision of this Note is determined, by a court of
competent jurisdiction to be illegal, invalid or unenforceable, such illegality, invalidity or unenforceability shall not
affect the other provisions hereof, which shall remain binding and enforceable.
This Note is made in the State of Maryland and it is mutually agreed that Maryland law shall apply to the
interpretation of the terms and conditions of this Note.
All agreements between the holder of this Note and Maker are hereby expressly limited so that in no
contingency or event whatsoever, whether by reason of deferment or acceleration of the maturity of this Note or
otherwise, shall the rate of interest hereunder exceed the maximum permissible under applicable law with respect to
the holder. If, from any circumstances whatsoever, the rate of interest resulting from the payment and/or acc