EXHIBIT 10.61
8%
CONVERTIBLE TERM NOTE
ELECTROPURE, INC.,
a California corporation, (the “Company” ), for the
value received, hereby unconditionally and absolutely promises to
pay to the order of ANTHONY M.
FRANK, or holder (collectively, the “Holder” ), upon
presentation and surrender of this Note at its office at 23456
South Pointe Drive, Laguna Hills, California 92653, or such other
place as the Company may, from time to time, designate, the sum of
Fifty Thousand ($50,000)
Dollars , in lawful money of the United States, on or
before August 18, 2005 (the “Maturity Date”).
1.
CONVERSION .
The Holder of this
Note shall have the right, at its option, at any time up until 5:00
P.M. Los Angeles time on the fifth (5th) day immediately before the
Maturity Date (except that, with respect to any portion of this
Note which shall be called for prepayment, such right shall as to
such portion terminate at 5:00 P.M. Los Angeles time on the fifth
(5th) day immediately prior to the Pr