EXHIBIT 10.36
PROMISSORY NOTE
$500,000.00 Plantation, Florida
March 31, 2000
FOR VALUE RECEIVED, the undersigned Imaging Diagnostic Systems, Inc. a Florida
corporation ("Debtor"). Promises to pay to the order of Charlton Avenue LLC or
its successors or assigns ("Lender"), on or before July 31, 2000 ("Maturity
Date") at Charlton Avenue, LLC c/o Citco Trustees (Cayman) Limited, P.O. Box
31106 SMB, Grand Cayman Island, British West Indies, or at such other place as
the Lender may designate from time to time in writing to the Debtor, in lawful
money of the United states of America, the principal sum of Five Hundred
Thousand Dollars ($500,000.00), together with interest on the unpaid principal
balance of this Note from the date hereof until paid at twelve percent (12%) per
annum. Interest shall be computed on the basis of a 360-day year.
The delay or failure to exercise any right hereunder shall not waive such right.
The undersigned hereby waves demand, presentment, protest notice of dishonor or
nonpayment, notice of protest, any and all delays or lack of diligence in
collection hereof and assents to each and every extension or postponement of the
time of payment or other indulgence. .
This Note shall be governed by, and construed and interpreted in accordance
with, the laws of the State of Florida. Exclusive jurisdiction relating to this
Note shall vest in courts located in Florida.
IN WITNESS WHEREOF, the undersigned has duly executed and delivered this Note
the date and year first above written.
IMAGING DIAGNOSTIC SYSTEMS, INC.
By /s/ Linda B. Grable
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Linda B. Grable, President
ATTEST:
By /s/ Allan L. Schwartz
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Allan L. Schwartz, Secretary
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