BANGLA PROPERTY MANAGEMENT, INC.
A DEVELOPMENT STAGE COMPANY
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EXHIBIT 10.18 - MATERIAL CONTRACT
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PROMISSORY NOTE
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PROMISSORY NOTE
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$10,000 U.S.
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FOR VALUE RECEIVED, BANGLA PROPERTY MANAGEMENT, INC. (the "Borrower"),
unconditionally promises to pay to the order of WHITE SANDS, INC., (the
"Lender") the sum of $10,000 in United States of America funds, together with
interest at the rate of 7% per annum on the principal amount remaining unpaid,
after as well as before demand or maturity or default, calculated on an annual
basis (on the basis of a year of 365 days for the actual number of days elapsed)
and payable on demand; PROVIDED that if the Borrower fails to pay on demand any
payment of principal or interest on this note, then in such event the entire
unpaid principal and all accrued and unpaid interest thereon shall become and be
forthwith due and payable without presentment, notice, protest or demand of any
kind (all of which are hereby expressly waived by the Borrower).
The Borrower hereby agrees that the proper law of this instrument is the law of
the state of Colorado and that this instrument shall be governed by and
construed in accordance with the laws thereof and the undersigned agrees that
any legal suit, action or proceeding brought upon or arising out of or relating
to this instrument may be instituted in the courts of such State and the
undersigned hereby accepts and irrevocably submits and attorns to the exclusive
jurisdiction of the said courts and acknowledges their competence and agrees to
be bound by any judgment thereof, provided that nothing herein shall limit the
right of the Lender to bring proceedings against the Borrower elsewhere.
This Promissory Note is dated the 17th day of October, 2003.
BANGLA PROPERTY MANAGEMENT, INC.
By: /s/ Xxxxx Xxxxxxxx
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President/Director
By: /s/ Xxxxxx Xxxxxxxx
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Director
By: /s/ Xxxx Xxxxxxxxx
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Director
