EXIBIT 10.1
10.1 Promissory Note dated August 21, 2001 between Xxxxx Xxxxxxx and
XxxxxxxxxxxXxx.xxx, Inc.
Promissory Note
$ 47,200.00 USD Temple, Texas Date Aug. 21, 01
FOR VALUE RECEIVED, after date, without grace, in the manner, on the dates, and
in the amounts so herein stipulated, the Undersigned, Communicate Xxx.xxx Inc.
PROMISE TO PAY TO THE ORDER OF : Xxxxx Xxxxxxx, At Temple, Texas in Xxxx County
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THE SUM OF TWENTY THOUSAND DOLLARS ($47,200.00)
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In lawful money of the United States of America, which shall be legal tender, in
payments of all debts and dues, public and private at the time of payment, and
to pay interest thereon from the date until maturity at the rate of 6.5% per
annum, payable as stipulated herein.
THIS NOTE IS DUE AND PAYABLE AS FOLLOWS TO WIT:
FOURTY SEVEN THOUSAND TWO HUNDRED DOLLARS ($47,200.00) principal due in on or
before Dec. 20, 2001. Interest of $2,832.00 per year payable in monthly amounts
of $236.00 on the 21st of each month.
IT IS AGREED that time is of the essence of this agreement, and that in the
event of default in the payment of any installment of principal or interest when
due, the holder of this note may declare the entirety of the evidenced herby due
and payable without notice, and failure to exercise said option shall not
constitute a waiver on part of the holder of the right to exercise the same at
any other time.
IN THE EVENT of default in the making of any payment herein provided, either or
principal or interest, or in the event the entirety of said note evidenced
hereby is declared due, interest shall accrue at the rate of 10.0% per annum
from such time.
THE UNDERSIGNED HEREBY AGREES to pay all expenses incurred, including an
additional 10.0% on the amount of principal and interest hereof as attorney's
fees, all of which shall become part of the principal hereof, if this note is
placed in the hands of an attorney for collection, or if collected by suite or
through any probate, bankruptcy or other legal proceedings,
EACH MAKER, SURETY and endorser waives demand, grace, notice, presentment for
payment, and protest and agrees and consents that this note an the liens
securing its payment, may be renewed, and the time of payment extended without
notice, and without releasing any of the parties.
This note was funded as follows:
3,000 via wire transfer on Friday Aug. 17, 2001 into CMNW Bank One operations
account
15,000 via check deposited on Tuesday Aug. 21, 2001 into CMNW Bank One
operations account
29,200 via deposit on Monday Aug. 20, 2001 into CMNW D'Hanis Bank account
XxxxxxxxxxxXxx.Xxx Inc.
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Xxxxx Xxxxxxx, President
