Exhibit 10.2
The shares of stock
represented by this Note have not been registered under the
Securities Act of 1933, as amended, and may not be sold or
otherwise transferred
unless compliance with the registration provisions of such Act has been
made or
unless availability of an exemption from such registration
provisions have
been
established, or unless
sold pursuant to Rule
144 under the
Securities Act of
1933.
CONVERTIBLE PROMISSORY NOTE
Principal:
$1,487,500.00
Date: January 1, 2008
For value received,
the undersigned NexHorizon Communications, Inc. or its
successor
("NexHorizon")
("the Promisor")
at 9737 Wadsworth Parkway,
Westminster, CO 80021
promises to pay to the order of Chula Vista Cable, Ltd.,
("Payee"), at 396 "E"
Street, Chula Vista, CA 91910, (or at such other place as
the Payee may
designate in
writing) the sum of $1,487,500.00 plus accrued
interest of 6%
annually; interest shall be paid quarterly with the final
interest and principal balance due and payable in full on December
31, 2010.
The unpaid principal
and accrued interest will be due (the "Due Date") in three
(3) years from the date of this agreement or an earlier date with
no penalty for
earlier repayment.
Commencing 12 months after date hereof, this three year Convertible
Promissory
Note, at the
Payee's option, may be paid in full by P
