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Sample Business Contracts

Secured Home Promissory Note - Wade Cook Seminars Inc., Paul D. Cook and Laurie Cook

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Secured Home Promissory Note

$13,000.00                                          Washington
                                                    January 1, 1998

     For value received, Paul D. Cook and Laurie C. Cook, (Promissor) promise
to pay to the order of Wade Cook Seminars, Inc., a Nevada corporation, at its
office at 14675 Interurban Ave. S, Seattle, Washington, 98168 or at such
other place as the holder of it may from time to time designate in writing,
the principal sum of thirteen thousand dollars and no cents, ($13,000.00),
which sum, together with interest from the date of this Note on the unpaid
principal sum, together with interest from the date of this Note on the
unpaid principal balance at the rate of eleven (11.00%) percent per year,
shall be payable in monthly installments of Four Hundred Dollars and no/100
($400.00) each, beginning February 1, 1998, and continuing on thereafter for
one year for a total of twelve payments.

     A Balloon payment of Nine Thousand, Eight Hundred Fifty Four Dollars
and Eighty cents ($9,854.80) will be due upon the last payment made.

     It is further agreed and understood that for as long as Promissor is an
employee/independent contractor of Wade Cook Seminars, Inc. he authorizes
said monthly payment to be automatically deducted from his monthly
commission. If Promissor is terminated or leaves said company, Promissor
shall continue to be bound by the obligations as set forth in this agreement.

     The undersigned reserves the right to prepay this Note in whole or in
part at any time, provided that all interest accrued to the date of the
prepayment shall first have been paid.


Secured Property:

     Lot 24, Overlook at Old Mill Subdivision, according to the Plat thereof;
     as recorded in the Office of the County Recorder of Said County.

The address to the house is: 6611 South Lindie CT, Sale Lake City, Utah 84058

     In the event that the monthly payments provided for in this Note have
not been paid and actually received by Promisee on or within five (5) days of
their due date, a late charge of twenty-five dollars ($25.00) shall be
accessed by Promisee to cover the extra expense involved in handling
delinquent payments. Promisee shall not be obligated to accept any monthly
payment made after its due date, unless that monthly payment shall be
accompanied by the full amount of the late charges assessed by Promisee as
provided in this Note; however, in the event that a late monthly payment is
accepted, that payment shall first be applied to late charges.

<PAGE>


Secured Promissory Note
Paul D. Cook and Laurie C. Cook
Page 2

    Any legal holder of this Note may, without notice and without releasing
the liability of any maker or guarantor of this Note, grant extensions or
renewals of this Note from time to time and for any term or terms.

    Any legal holder of this Note shall not be liable for or prejudice by
failure to collect or for lack of diligence in bringing suit on this Note or
any renewal or extension of this Note. Promissor waives presentment for
payment, notice of nonpayment, protest and notice of protest.

     Should this Note be placed in the hands of an attorney for collection,
or if action be instituted on it, all parties now or in the future liable for
indebtedness evidenced by this Note, jointly and severally agree to pay all
costs and expenses of the collection or enforcement action with reasonable
attorney fees in addition to the amount found due.


Dated this 30th day of December, 1997.


/s/ Paul D. Cook              /s/ Laurie C. Cook
----------------------        --------------------------
Paul D. Cook                  Laurie C. Cook