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Exhibit
10.1
PROMISSORY NOTE
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$10,150.00
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October 7, 2008
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Austin, Texas
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FOR
VALUE, the receipt and
sufficiency of which are hereby acknowledged, Restaurant Concepts
of America, a Nevada company referred to as
(“Borrower”), promises to pay to David Cho
(“Lender”), or order, at Austin, Texas, or as otherwise
instructed, the principal sum of ten thousand one hundred fifty
dollars ($10,150.00) in lawful tender of the United States,
together with simple interest thereon at an annual interest rate of
eight percent (8%).
Terms of
Repayment. This Promissory Note shall become
due and payable together will all accrued interest on October 7,
2009.
Default. Any one or more of the following
events shall constitute a Default under the terms of this
Note:
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1)
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Borrower fail
to make timely payment when due.
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2)
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Borrower
breaches an agreement or promise made to Lender, or fails to timely
perform any obligatio
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