EXHIBIT 10.19
PROMISSORY NOTE
U.S. $______________ Los Angeles, California
___________, 200_
1. FOR VALUE RECEIVED, the undersigned, USDataworks, Inc., a Delaware
corporation, located at 00000 Xxxxxxxx Xxxxxx, Xxxxxxxxxx, XX 00000
("Borrower"), promises to pay to the order of Xxxxxxx Xxxxx, an individual,
located at 0 Xxxxxxx Xxxxx Xxxx, Xxxxxxxxx, Xxxxx ("Lender") or at such other
place or to such other party or parties as the holder hereof may designate, the
principal sum of U.S. $___________ (____________ U.S. Dollars).
2. Xxxxxxxx promises to make one payment constituting the principal and
all accrued interest on demand. Interest on the note shall accrue from the date
of execution at the rate of twelve percent (12%) per annum.
3. Xxxxxxxx agrees that this Note shall become immediately due and
payable without notice or demand, upon default of the payment required by
paragraph two or alternatively upon Xxxxxx's three (3) day notice to Borrower.
4. Should the indebtedness represented by this Note or any part thereof
be collected at lave or in equity or through any bankruptcy (including without
limitation, any action for relief from the automatic stay of any bankruptcy
proceeding), receivership, probate or other court proceeding or by any judicial
or non-judicial foreclosure proceeding, or if this Note is placed in the hands
of attorneys for collection after default, Xxxxxxxx agrees to pay, in addition
to the principal payable hereon, interest accruing from the date of default in
the amount of 1.5% per month or the highest rate allowable under law, reasonable
attorneys' fees and collection costs and expenses.
5. This Note shall be construed and enforced in accordance with the
laws of the State of California and venue for any action result from the default
of this note shall be venued in California Superior Court in Los Angeles County.
6. If any provision of this Note is held invalid, unenforceable, or
void, then the remainder of this Note shall continue in full force and effect.
USDataworks, Inc. "Burrower"
By:
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Its:
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