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NOTE AND SECURITY
AGREEMENT
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Principal amount: $250,000 USD
Date: February 7, 2007
FOR VALUE RECEIVED, the undersigned hereby promises to pay to
FireStop USA, LLC
["Firestop"] the sum of TWO HUNDRED FIFTY THOUSAND U. S. Dollars
($250,000),
with no interest thereon if repaid when due. Said sum shall be paid
in the
following manner: $250,000 USD to be repaid in its entirety six
months from the
date hereof, unless such date is extended by Firestop. If this Note
is not
repaid when due, in addition to the pledged assets as described
below, FireStop
will be entitled to interest that is accrued against the
outstanding principal
on a daily basis at the annual simple rate of 15% from the date
above until the
loan is paid off by Megola.
The undersigned and all other parties to this note, whether as
endorsers,
guarantors or sureties, agree to remain fully bound until this note
shall be
fully paid and waive demand, presentment and protest and all
notices hereto and
further agree to remain bound notwithstanding any extension,
modification,
waiver, or other indulgence or discharge or release of any obligor
hereunder or
exchange, substitution, or release of any collateral granted as
security for
this note. No modification o
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