Alternative Technology Resources Inc – ‘10KSB’ for 6/30/96 – EX-10

As of:  Monday, 9/30/96   ·   For:  6/30/96   ·   Accession #:  1001277-96-34   ·   File #:  0-20468

in

this entire Filing. an “Entity” Search.

Show

Documents searched

and

each “hit”. the 1st “hit”.

↓↑Hints

Annual Report — Small Business   —   Form 10-KSB
Filing Table of Contents

Document/Exhibit                   Description                      Pages   Size 

 1: 10KSB       Form 10-Ksb for 3Net Systems Inc.                     49±   261K 
 2: EX-3        Articles of Incorporation/Organization or By-Laws      2±    10K 
 3: EX-3        Articles of Incorporation/Organization or By-Laws      2±     9K 
 4: EX-10       Material Contract                                      7±    29K 
 5: EX-10       Material Contract                                      2±    11K 
 6: EX-10       Material Contract                                      2±    12K 
 7: EX-10       Material Contract                                      2±    12K 
 8: EX-10       Material Contract                                     27±    99K 
 9: EX-10       Material Contract                                      4±    18K 
10: EX-23       Consent of Experts or Counsel                          1      7K 
11: EX-27       Financial Data Schedule (Pre-XBRL)                     1     10K 

EX-10   —   Material Contract

EXHIBIT 10.45       

PROMISSORY NOTE                 

U.S. $241,718.00                        June 30, 1996                           

3NET SYSTEMS, INC., a Delaware corporation (the "Company"), hereby    
promises to pay to The Negri Foundation ("Negri"), Two Hundred Forty-One        
Thousand Seven Hundred Eighteen Dollars ($241,718.00), such amount              
referred to herein as the "Principal".  This Promissory Note is given as        
a replacement for and in consideration of Negri canceling the Promissory        
Notes listed on the attached Schedule.  Interest payments of Four               
Thousand One Hundred Sixty-Three Dollars ($4,163.00) are to be paid             
October 31, 1996, November 30, 1996 and December 31, 1996.  The                 
Principal, together with any remaining unpaid interest accrued thereon          
from June 30, 1996, at an annual rate of ten and one quarter percent            
(10.25%), shall be due and payable on December 31, 1996 (the "Maturity          
Date").                                                                         

1.   No failure by Negri to exercise, and no delay in exercising,     
any right or remedy hereunder shall operate as a waiver thereof; nor            
shall any single or partial exercise by Negri of any right or remedy            
hereunder preclude any other or further exercise thereof or the exercise        
of any other right or remedy.                                                   

2.   Time is of the essence of this Note.                             

3.   If principal and interest shall not be received by Negri within  
ten (10) days after the Maturity Date, in addition to his other remedies,       
Negri may collect, and the Company shall pay on demand, a late charge           
equal to two (2) percent of the amount overdue.                                 

4.   If the Company defaults in the performance of or compliance      
with this Note, and such default shall not have been remedied within ten        
(10) days after Negri notifies the Company in writing of such default,          
then Negri, in addition to all remedies conferred upon Negri by law,            
shall have the option to declare this Note and any and all promissory           
notes issued by the Company to Negri to be due and payable, without             
presentment, demand for payment, protest, or notice of any kind, all of         
which are hereby expressly waived upon maturity by acceleration or              
otherwise.                                                                      

5.   Except as otherwise provided herein, the Company waives          
presentment, demand for payment, protest, or notice of any kind.                

6.   The Company may prepay this Note in whole or in part without a   
prepayment charge.  Partial payments shall first be applied to accrued          
interest and the balance to principal.                                          

7.   Principal and accrued interest shall be payable only in the      
lawful money of the United States.                                              

8.   The provisions of the Note shall be binding upon the Company     
and its successors and assigns and the terms and provisions of this Note        
shall inure to the benefit of Negri and Negri's successors and assigns.         
This Note may be amended, supplemented, or changed, and any provision           
hereof waived, only by a written instrument making specific reference to        
this Note signed by the party against whom enforcement of any such              
amendment, supplement, change, or waiver is sought.  The Company agrees         
to pay all costs of collection, including, without limitation, attorney's       
fees, in the event this Note is not paid when due.                              

9.   If any provision of this Note is held by a court of competent    
jurisdiction to be void or unenforceable for any reason, the remaining          
provisions of this Note shall continue with full force and effect.              

10.  This Note shall be governed by and constructed in accordance     
with the laws of the State of California.                                       

IN WITNESS WHEREOF, the Company has caused this Note to be executed   
and delivered on the date and year first above written.                         

3NET SYSTEMS, INC.                                                              

By:    GEORGE R. VAN DERVEN                                                     
Name: George Van Derven                                               
Title: President & CEO                                                

Dates Referenced Herein   and   Documents Incorporated by Reference

This ‘10KSB’ Filing		Date		Other Filings
		12/31/96		10QSB
		11/30/96
		10/31/96
Filed on:		9/30/96		10QSB
For Period End:		6/30/96
				List all Filings