Exhibit 10(ii)
$30,000 (U.S.) Dated: June 16, 2000
PROMISSORY NOTE
FOR VALUE RECEIVED, INVESTNET, INC., a Nevada, ("Maker"), promises to pay to
Wolf Fiedler ("Holder"), or order, a total of thirty thousand dollars ($30,000)
in consideration of equivalent funds loaned to Maker.
1. Payments. The principal on the obligation represented by this
promissory note (this "Note"), will be paid in full on or before June
15, 2001 (the "Maturity Date").
2. Time and Place of Payments. The payment of principal shall be made in
lawful money of the United States of America to the above-named Holder
or to order.
3. Prepayment. Advance payment may be made on the principal , without
penalty or forfeiture.
4. Default. Upon the occurrence or during the continuance of any one or
more of the events hereinafter enumerated, Holder or the holder of
this Note may forthwith or at any time thereafter during the
continuance of any such event, by notice in writing to the Maker,
declare the unpaid balance of the principal on the Note to be
immediately due and payable, and the principal will become and will be
immediately due and payable upon failure of Maker to cure within 30
business days of notice to Maker by Holder or the holder such default.
(a) Default in the payment of the principal of this Note or any
portion thereof when the same becomes due and payable, whether at
maturity as herein expressed, by acceleration, or otherwise.
(b) Maker files a voluntary petition in bankruptcy or a voluntary
petition seeking reorganization, or files an answer admitting the
jurisdiction of the court and any material allegations of an
involuntary petition filed pursuant to any act of Congress
relating to bankruptcy or to any act purporting to be amendatory
thereof, or is adjudicated bankrupt, or makes an assignment for
the benefit of creditors, or applies for or consent to the
appointment of any receiver or trustee for Maker, or of all or
any substantial portion of its property, or Maker effects an
assignment to an agent authorized to liquidate any substantial
part of its assets; or
(c) An order is entered pursuant to any act of Congress relating to
bankruptcy or to any act purporting to be amendment thereof
approving an involuntary petition seeking reorganization of the
Maker, or an order of any court is entered appointing any
receiver or trustee of or for Maker, or any receiver of trustee
of all or any substantial portion of the property of Maker, or a
writ or warrant of attachment or any similar process is issued by
any court against all or any substantial portion of the property
of Maker, and such order approving a petition seeking
reorganization or appointing a receiver or trustee is not vacated
or stayed, or such writ, warrant of attachment, or similar
process is not released or bonded within 60 days after its entry
or levy.
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5. Attorneys' Fees & Construction. If any legal action or other preceding
(non-exclusively including arbitration) is brought for the enforcement
of or to declare any right or obligation under this Note, or as a
result of a breach, default or misrepresentation in connection with
any of the provisions of this Note. If it becomes necessary for either
party hereto to enforce any portion of this Note through litigation or
arbitration, then the prevailing party shall be entitled to recover
reasonable attorney's fees, and costs. In the event of litigation, it
is agreed that the interpretation of this Note shall be subject to the
interpretation of the laws of the State of Nevada, and further, the
Maker and the Holder irrevocably agrees to the jurisdiction of the
Nevada State Courts.
6. Non-Assignability. This Note cannot be assigned, transferred, or
hypothecated by Holder or the holder without prior written consent of
Maker
INVESTNET, INC.
By: /s/ Ruairidh Campbell
------------------------
Name: Ruairidh Campbell
Title: President
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