Interest (the “ Interest ”) shall accrue on the unpaid Principal from the date hereof until the unpaid Principal is repaid in full at the rate of ten percent (10%) per annum. Interest shall be payable monthly in arrears on or before the tenth (10 th ) day of each succeeding month with the first interest payment covering the period from the date of issuance of this Note until March 31, 2017. All computations of the Interest rate hereunder shall be made based on a 360-day year of twelve 30-day months. In the event that any Interest rate provided for herein shall be determined to be unlawful, such Interest rate shall be computed at the highest rate permitted by applicable law. Any payment by the Company of any Interest amount in excess of that permitted by law shall be considered a mistake, with the excess being applied to the unpaid Principal of this Note without prepayment premium or penalty.