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Exhibit 10.14
PROMISSORY NOTE
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$1,000,000
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September 25, 2006
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PORTLAND, OREGON
FOR VALUE RECEIVED, Vaughan Foods, Inc. ( the
“Maker” herein) promises to pay to the order of Paulson
Investment Company, Inc. (the “Holder”), the aggregate
principal sum of One Million and no/100 ths Dollars
(1,000,000.00) (the “Obligation”) to be borrowed by the
Maker as follows:
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09/28/06
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$250,000
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10/04/06
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$250,000
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10/11/06
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$100,000
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10/18/06
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$100,000
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10/25/06
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$100,000
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11/01/06
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$100,000
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11/08/06
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$100,000
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Interest on the Obligation shall accrue from the
date each amount was borrowed until the Obligation is paid in full
at the rate of ten percent (10%) per annum. The Obligation and
interest shall be payable in lawful money of the United States, at
Portland, Oregon or such other place as the Holder hereof may
designate.
Interest shall be computed monthly on the basis of a
365-day year or 366-day year, as applicable, and actual days
elapsed. Maker shall have the right to prepay at any time in
advance of maturity, without premium or penalty, all or any part of
the principal amount of this Promissory
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