PROMISSORY NOTE
$20,000.00 March 21,2000
FOR VALUE RECEIVED, NATEXCO CORPORATION, a Nevada corporation,
("Maker"). being duly authoiized, promises to pay to the order of ABOYNE
MANAGEMENT LTD., ("Holder") the sum of TWENTY THOUSAND and NO/100 DOLLARS
($20,000.00) principal, plus interest thereon on the fbllowing terms and
conditions:
1. Principal and Interest. The principal and unpaid interest shall be
due March 20, 2001. The unpaid principal balance shall bear interest of 10% per
annum.
2. Prepayment. Advance payments of principal or other additional
payments may be made on this Note in any amount and at any time without notice
or penalty. Each payment shall be applied first to the payment of accrued
interest, and second to the payment of principal
3. Place of Payment. Principal and interest on this Note is payable at
Holder's principal place of business, or at such other place as the Holder of
this Note may designate in writing.
4. Default. If default is made in the payment when due of any part or
installment of this Note, then the Holder of this Note shall give written notice
to the Maker, and if within ten (10) days after the giving of such written
notice the Maker has not cured such default, then the whole sum of the
principal (and any accrued interest) shall become immediately due and payable at
the option of the holder without further notice
5.Waiver of Demand. Presentment. Protest apd Notice. Subject to
paragraph 4 hereof, Maker hereby waives demand, presentment, protest, notice of
protest and notice of nonpayment or notice of dishonor of this Note.
IN WITNESS WREREOF, the undersigned has executed this Promissory Note
the 21st day of March, 2000.
MAKER:
NATEXCO CORPORATION
A Nevada corporation
By: /s/ Gerald A Mulhall
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Gerald A Mulhall, President
