TERM NOTETerm Note • January 28th, 2000 • Enviro Recovery Inc
FOR VALUE RECEIVED, SUPERIOR WATER-LOGGED LUMBER CO., INC., a Wisconsin corporation ("Borrower") which is a subsidiary of ENVIRO-RECOVERY, INC., a Texas corporation, promises to pay to the order of THOMAS A. EVINRUDE ("Lender") the principal sum of ONE MILLION THREE HUNDRED NINETY-FIVE THOUSAND FIVE HUNDRED EIGHTY-NINE AND 73/100 DOLLARS ($1,395,589.73). The unpaid principal balance of this Note shall bear interest at an annual rate of 9%. Interest on the unpaid principal amount shall be due and payable on the last business day of each month, commencing on August 31, 1998. The unpaid principal balance and any accrued but unpaid interest on this Note shall be due in full on August 5, 2000.
