PROMISSORY NOTE
$200,000.00 August 9, 2000
FOR VALUE RECEIVED, the undersigned, Linux Global Partners, Inc., a
Delaware corporation (the "Company"), hereby promises to pay to the order of
Medicore, Inc., a Florida corporation, or its successors and assigns
(hereinafter, with any subsequent holder, the "Holder"), at its principal
offices located at 2337 West 76th Street, Hialeah, Florida 33016, or at such
other place or to such other party as the holder of this Promissory Note may
from time to time designate in writing, the principal sum of Two Hundred
Thousand Dollars ($200,000.00) together with interest on the principal balance
outstanding from time to time at the fixed rate of ten percent (10%) per
annum, computed daily. All payments hereunder shall be made in lawful
currency of the United States and in immediately available funds. Interest
shall be calculated on the basis of the actual number of days elapsed over a
360-day year. Unless sooner paid in full, the entire unpaid principal of this
Note, together with all accrued, but unpaid, interest and all other fees,
costs, and charges, if any, shall be due and payable in full on September 8,
2000 (the "Maturity Date"). No payments of principal or interest are required
hereunder until the Maturity Date except as otherwise provided herein. If any
amounts due under this Note are due on a day which is not a business day, then
such amounts shall be due on the next following day which is a regular
business day.
Except as otherwise defined herein, all capitalized terms shall have the
meanings ascribed to them in the Secured Promissory Note between the Company
and the Holder dated January 27, 2000, as amended by the Amended Secured
Promissory Note between the Company and the Holder dated March 27, 2000
(collectively "Secured Note"). This Note is subject to all the terms and
conditions of the Secured Note other than the maturity date of the Secured
Note (Sec. 2) and the purpose of the Secured Note (Sec. 3). Otherwise all
the terms and provisions of the Secured Note shall continue in full force and
effect.
IN WITNESS WHEREOF, the Company has duly executed this Promissory Note as
of the day and year first above written.
ATTEST: COMPANY:
LINUX GLOBAL PARTNERS, INC.,
a Delaware corporation
/s/ Lawrence E. Jaffe /s/ Wm. Jay Roseman
---------------------------------- By:------------------------------(SEAL)
Wm. Jay Roseman, Co-Chairman
<PAGE>
STATE OF NEW JERSEY )
) SS:
COUNTY OF BERGEN )
The foregoing instrument was acknowledged before me this 9th day of
August, 2000, by Wm. Jay Roseman, the Co-Chairman of Linux Global Partners,
Inc., a Delaware corporation, on behalf of the corporation.
/s/ Nancy A. Cox
-----------------------------------
Notary Public of New Jersey
My Commission Expires March 6, 2005
