EXHIBIT
10.12
PROMISSORY NOTE
$120,000
AUGUST 4, 2000
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PRINCIPAL
DATE
10%
LEXINGTON, KENTUCKY
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INTEREST RATE
CITY STATE
FOR
VALUE RECEIVED,
Equity Technologies & Resources,
Inc. (hereinafter
"Equity Technology"),
a Delaware corporation, with its principal place of
business at 1050 Chinoe Road, Suite 304, Lexington, Kentucky 40502, promises to
pay to the order of James Arch, of Maitland, Florida (hereinafter "Holder")
the
sum of One Hundred Twenty Thousand ($120,000) Dollars, for and in consideration
of Six Million
(6,000,000) share of Class A Common Stock of Equity
Technologies
& Resources, Inc.
and One Hundred
Thousand (100,000)
Shares of Class B Common
Stock of Equity
Technologies &
Resources, Inc. in two
installments
of Sixty
Thousand ($63,000)
Dollars each,
which includes interest at the rate of ten
(10%) percent per annum, the first installment to be made on or
before November
1, 2000 and the second installment to be made on or before December
31, 2001, at
the address of the
Holder, or such other place as the holder hereof shall
designate.
Equity Technology,
