PROMISSORY NOTE
FOR VALUE RECEIVED, the sufficiency of which is hereby
acknowledged, the undersigned, CX2 Technologies, Inc. , a
Nevada corporation (the < Maker •), promises to pay to the order of
GEOCommand, Inc. (the < Holder •), the principal sum of EIGHTTEEN
THOUSAND NINE HUNDRED AND SIXTY-ONE and NO/100 DOLLARS
($18,961) (the <
Principal •), without interest except as hereinafter
set forth.
1.
PAYMENT OF PRINCIPAL. The outstanding principal balance of
this Note shall be due upon demand. All payments hereunder shall be
made at the principal residence of the Holder, or such other place
as the Holder may from time to time designate in
writing.
2.
EVENTS OF DEFAULT. If one or more of the following described
events shall have occurred and be continuing, then this Note shall
be in default (each, a < Default •):
2.1.
Failure to Pay. The Maker shall fail to pay the Principal
balance of this Note or of Interest on this Note on or within five
(5) days after the date upon which such payment becomes due;
or
2.2.
Bankruptcy. The Maker shall be adjudicated as bankrupt or
insolvent, or admit in writing its inability to pay its debts as
they mature, or make an assignment for the benefit of creditors; or
the Maker shall apply for or consent to the appointment of a
receiver, trustee, or similar officer for it or for all or any
substantial part of its property; or such receiver, trustee, or
similar officer shall be appointed without the application or
consent of the Maker and such appo
