Commercial_Loan_Agreement_Between_City_of_SL_&_EJU CO_INC.

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C-1 Exhibit C FORM OF PROMISSORY NOTE $30,000 San Leandro, California March 6, 2026 FOR VALUE RECEIVED, EJU CO, Inc. (“Owner”) promises to pay to the City of San Leandro, a California charter city (“City"), in lawful money of the United States of America, the principal sum of Thirty Thousand Dollars ($30,000) (the “Loan”), or so much thereof as may be advanced by City pursuant to the Loan Agreement referred to below, together with interest accrued thereon, in accordance with the terms and conditions described herein. This Secured Promissory Note (this “Note”) has been executed and delivered pursuant to an Owner Participation and Loan Agreement dated as of the date hereof by and between Owner and City (the "Loan Agreement"),and is subject to the terms and conditions of the Loan Agreement, which are by this reference incorporated herein and made a part hereof. Capitalized terms used but not defined herein shall have the meaning ascribed to such terms in the Loan Agreement. 1. INTEREST RATE; REPAYMENT. The outstanding principal balance of this Note shall bear interest at the rate of three percent (3%) simple interest per annum. The Loan, plus all interest accrued thereon, is due and payable upon an Event of Default under the Loan Agreement or a Transfer in violation of the Loan Agreement. 1.1 LOAN FORGIVENESS. On the fifth (5th) anniversary of the date of this Note, the entire outstanding balance of this Note, together with accrued interest, shall be forgiven, provided that no Event of Default or Transfer has arisen under the Loan Documents. 1.2 DUE ON SALE OR DEFAULT. The entire unpaid principal balance and all sums accrued hereunder shall be immediately due and payable upon the Transfer (as defined in Section 1.4 of the Loan Agreement) absent City consent, of all or any part of the Premises or the Improvements, or any interest therein or upon the occurrence of an Event of Default under the Loan Documents, subject to the expiration of any applicable cure period. 1.3 PREPAYMENT. Owner may, without premium or penalty, at any time and from time to time, prepay all or any portion of the outstanding principal balance due under this Note. Prepayments shall be applied first to any unpaid late charges and other costs and fees then due, then to accrued but unpaid interest, if any, and then to principal. In no event shall any amount due under this Note become subject to any rights of offset, deduction or counterclaim on the part of Owner. Docusign Envelope ID: 16604ABF-1E5B-4046-BDCC-4BD015B716C5