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Exhibit
10.27
PROMISSORY NOTE
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$25,000.00
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Executed at Broward County,
Florida
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June 15, 2009
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FOR VALUE
RECEIVED, Le@P Technology, Inc., a Delaware corporation with a
principal place of business at 5601 N. Dixie Highway, Suite 411,
Fort Lauderdale, Florida 33334 ("Maker"), promises to
pay to the order of the M. Lee Pearce Living Trust (the "Payee"),
the principal sum of TWENTY-FIVE THOUSAND DOLLARS AND NO CENTS
($25,000.00), together with interest at the “Prime
Rate” (as hereinafter defined), as announced from time to
time, due and payable in one lump sum of principal and interest on
January 8, 2011. “Prime Rate” shall mean the
prime commercial lending rate set forth in the “Money
Rates” section of The Wall Street Journal, as announced from
time to time. Principal and interest shall be payable to
the Payee at the following address: 16 La Gorce Circle,
Miami Beach, FL 33141, or such other place as the Payee may
designate.
This Promissory
Note (this "Note") is issued subject to the following additional
terms and conditions:
1.
Type of Payment . Payment of both principal and
interest shall be made in currency of the United States of America
which at the time of payme
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