Promissory Note

FOR VALUE RECEIVED, the undersigned Borrower unconditionally (and jointly and severally, if more than one) promises to pay to the order of Lender, its successors and assigns, without setoff, at its offices indicated at the beginning of this Note, or at such other place as may be designated by Lender, the principal amount of fight Hundred Thousand Dollars ($800,000), or so much thereof as may be advanced from time to time in immediately available funds, together with interest computed daily on the outstanding principal balance hereunder, at an annual interest rate, and in accordance with the payment schedule, indicated below.

[Thus Note contains some provisions preceded by boxes.. If a box is marked, the provision applies to this transaction; if it is not marked, the provision does not apply to this transaction.]

Notwithstanding any provision of this Note, Lender does not intend to charge and Borrower shall not be required to pay any amount of interest or other charges in excess of the maximum permitted by the applicable law of the State of Mississippi; if any higher rate ceiling is lawful, then that higher rate ceiling shall apply. Any payment in excess of such maximum shall be refunded to Borrower or credited against principal, at the option of Lender

2.   Accrual Method., Unless otherwise indicated, interest at the Rate set forth above will be calculated by the 365 day method (a daily amount of   interest is computed for a hypothetical year of 360 days; that amount is multiplied by the actual number of days for which any principal is outstanding hereunder).   If   interest   is   not to be computed using this method, the method shall be:

Equal monthly payments

4.   Payment Schedule. All payments received hereunder shall be applied first to the payment of any expense or charges payable hereunder or under, any other loan documents executed in connection with this Note, then to interest due and payable, with the balance applied to principal, or in such other order as Lender shall determine at its option.

Principal Plus Accrued Interest. Principal shall be paid in consecutive equal installments of $9,496.15 commencing on and continuing on the same day of each successive month (as applicable) thereafter, with a final payment of all unpaid principal and accrued interest due on September 1, 2018.

As collateral security for all of the obligations, the Borrower hereby mortgages, assigns, pledges, conveys, transfers and sets over to the Lender, and grants to the Lender a continuing security interest in, the following (the “Collateral”): all of the right, title and interest of the Borrower in and to (in physical assets, general intangibles,   whether now or hereafter existing and whether now owned or hereafter acquired, arising out of or in connection with Borrower's acquisition of radio station WBBV-FM. The collateral also includes WBBV-FM tower lease.

Sale or Encumbrance of Collateral. Without prior written consent of Lender, Borrower will not set exchange, lease or otherwise dispose of the collateral of any of the Borrower's rights therein or under this agreement, or permit any lien or security interest to attach to same except that created by this agreement and other rights, if any, of Lender.

Maintenance of Collateral. Borrower will maintain the Collateral in good condition and repair but without permitting any ten to affix to the Collateral as a result thereof, and will pay and discharge all taxes, levies and other impositions levied thereon as well as the cost of repairs to or maintenance of the same and not permit anything to be done that may impair the value of any of the Collateral If Borrower fails to pay such sums, Lender may do so for the Borrower's account, adding the amount thereof to the other amounts secured hereby.

Insurance of Collateral Borrower shall procure, keep in force, and pay for, insurance on said Collateral, in such amounts and forms, and against such risks, and with such insurers as may be acceptable to Lender and such policies evidencing said insurance shall be furnished to Lender, if Borrower fails to furnish said insurance or fails to pay the premiums thereof, Lender may do so or may obtain insurance of its interest only, adding the amount of any such premium thereof to other amounts secured hereby; however, Lander is under no obligation nor duty to pay such premiums or obtain Insurance.

Perfection of Security Interests. Borrower will pay all costs of filing any financing, continuation or termination statements with respect to the security interest by this agreement; Lender is hereby appointed Borrower's attorney-in-fact to do, at Lender's option and at Borrower's expense, all that is necessary to perfect the security interest created by this agreement and to keep the security interest perfected and the Collateral protected, including, but not limited to signing the Borrower's name on any financing statements or amendments thereto, or the completion of this agreement or of the financing statement by inserting information or terms not inconsistent with the parties' agreement Borrower agrees that a photographic copy or other reproduction of this agreement shall be sufficient as a financing statement.

Impairment of Value. Borrower will not permit anything to be done that may impair the value of any Collateral or the security intended to be afforded by this agreement

7.   Waivers, Consents and Covenants. Borrower, any indorser or guarantor hereof, or any other party hereto (individually an "Obligor" and collectively "Obligors") and each of them jointly and severally: (a) waive presentment, demand, protest, notice of demand, notice of intent to accelerate, notice of acceleration of maturity, notice of protest, notice of nonpayment notice of dishonor, and any other notice required to be given under the law to any Obligor in connection with the delivery, acceptance, performance, default or enforcement of this Note, any indorsement or guaranty of this Note, or any other documents executed in connection with this Note or any other note or other loan documents now or hereafter executed in connection wit