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CONVERTIBLE
PROMISSORY NOTE
ADVANCES PER SCHEDULE A MARCH 31,2002
FOR VALUE RECEIVED, Med-X Corporation (the "Borrower"), promises
to pay to
the order of Hank Vanderkam (the "Lender"), at 1301 Travis,
#1200, Houston, TX
77002, or elsewhere as the holder hereof may designate in
writing, such
principal sum as is denoted on Schedule A attached,
INTEREST. The unpaid balance of this Note from time to time
outstanding
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shall not bear interest.
PAYMENT TERM. The Principal shall be due and payable upon the
earlier of
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the following:
a) The company receives funding of at least $100,000 or
b) A change in control of the Company's common stock, or
c) Hank Vanderkam ceases to be the president and sole director
of the
Borrower
DEFAULT. The occurrence of any of the following events shall
constitute a
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Default hereunder:
(1) Borrower's failure, refusal or neglect to pay, in full,
the
Indebtedness as and when the same shall become due and payable,
at the due date
stipulated herein, and such failure, refusal or neglect
continues for a period
of fifteen (15) days after written notice to Borrower of such
failure, then this
Note, together with all other sums owing to Lender shall, if not
paid within
five (5) days after written demand by Lender to Borrower shall
be in default.
COLLECTION COSTS. If this Note is placed in the hands of an
attorney for
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collection or if it is collected through any legal or court
proceeding, the
Borrower agrees to pay all reasonable costs of collection
including but not
limited to, all court costs and reasonable attorney's fees.
WAIVER OF NOTICE AND CONSENT. Ex
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