Exhibit 10(iii)
THIRD PROMISSORY NOTE
$75,000.00 Salt Lake City, Utah
November 30, 1999
FOR VALUE RECEIVED, the undersigned promise to pay to Abdul Rashid Afridi, or
order, Seventy Five Thousand Dollars and No Cents ($75,000.00), payable as
follows, viz:
The entire amount of $75,000.00 will be due and payable on or before
September 1, 2000.
In case of default in the payment of any installment of principal or interest as
herein stipulated, then it shall be optional with the legal holder of this note
to declare the entire principal sum hereof due and payable; and proceedings may
at once be instituted for the recovery of the same by law, with accrued interest
and cost, including reasonable attorneys' fees.
The makers and endorsers severally waive presentment, protest and demand; and
waive notice of protest, demand and of dishonor and non-payment of this note,
and expressly agree that this note, or any payment hereunder, may be extended
from time to time without in any way effecting the liability of the makers and
endorsers thereof.
This note and the interest thereon is secured by a Third Trust Deed on November
30, 1999.
THIS NOTE MAY BE PAID IN PART OR IN FULL AT ANY TIME PRIOR TO MATURITY WITHOUT
PENALTY.
A-Z South State Corporation, a Utah Corporation
/s/ Richard D. Surber
------------------------------------------
By: Richard D. Surber
Its: President
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