Promissory Note - Siden Investments Ltd. and Communicate.com Inc.
PROMISSORY NOTE
October 10th, 2001 US$150,000.00
FOR VALUE RECEIVED, the undersigned, jointly and severally, promise to pay to
SIDEN INVESTMENTS LTD. the sum of ONE HUNDRED FIFTY THOUSAND (US$150,000.00)
DOLLARS in lawful currency of the United States of America ON DEMAND.
The undersigned further jointly and severally promise to pay interest on the
aforesaid amount calculated from the date hereof at the Prime Rate plus four
percent (Prime Rate + 4%) per annum, such interest to be calculated monthly, in
arrears, and to accrue on overdue interest both before and after default.
For the purposes of this Promissory Note, "Prime Rate" means the per annum rate
of interest announced periodically by the Royal Bank of Canada at its main
branch, Vancouver, British Columbia, as its "prime interest rate" and used by it
as a reference rate for calculating rates of interest on Canadian dollar
commercial loans made in Canada. A statement of an officer of said bank as to
the amount of its Prime Rate shall be conclusive as between the parties.
This Promissory Note shall be governed and construed by the laws of the Province
of British Columbia, including the laws of Canada applicable thereto, but
excepting any of its conflict of laws rules which would have the effect of
applying the laws of any other jurisdiction. The parties further agree that the
federal and provincial courts of British Columbia shall have exclusive
jurisdiction over all disputes relating to this Promissory Note.
The undersigned hereby waives, presentment, protest and notice of presentment,
protest and dishonour.
DATED at Vancouver, British Columbia this day of October, 2001.
COMMUNICATE.COM, INC. (Alberta Corporation)
Per:
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Authorized Signatory
COMMUNICATE.COM, INC. (Nevada Corporation)
Per:
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Authorized Signatory
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