Exhibit 10.1
PROMISSORY NOTE
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Borrowers:
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Cyber
Informatix, Inc., a Nevada Corporation located at 1785 E. Sahara
Avenue, Suite 490, Las Vegas, Nevada 89104; and Terry G. Bowering,
of 10 Cedar Meadow Drive, Regina, Saskatchewan, S4X 3J6, Canada,
(individually and collectively the "Borrowers")
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Lender:
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Cyberinformatix, Inc., a Florida
Corporation
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Principal Amount:
$15,000.00
Interest: 8.00
percent
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FOR VALUE
RECEIVED, The Borrowers promise to pay to Cyberinformatix, Inc., a
Florida Corporation (hereafter referred to as “Lender”)
by Bank Wire Transfer (Instructions provided in “Schedule
A”) to Lender’s bank account at First Commercial Bank
of Florida, or at such address and directions as may later be
provided in writing to the Borrowers, the principal sum of fifteen
thousand ($15,000.00 ) USD, plus 8.00% interest payable
on the unpaid principal.
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The due date
of the Note will be 12 months from the date of execution of this
Note, to be repaid in full. No payments and/or interest are
required to be paid prior to the due date.
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At any time
prior to the due date of this Note, the Borrowers may elect to pay
the outstanding balance (or a portion thereof) then owing under
this Note to Lender, without bonus or penalty.
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If the
Borrowers default in payment as required under this Note, or after
demand for thirty (30) days after the due date , the
Security will be immediately provided to Lender, and Lender is
granted all rights of repossession as a secured party.
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This Note will
be construed in accordance with and governed by the laws of the
State of Florida.
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If any term,
covenant, condition or provision of this Note is held by a court of
competent jurisdiction to be invalid, void or unenforceable, it is
the parties' intent that such provision be r
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