FOR
VALUE RECEIVED,
on demand, by ___________ ____, 2003, H&J
pay
____________________, on request, the sum of ______________ U.S. Dollars,
($__________.00)
plus an interest amount of 100% for a total repayment amount of
____________________
U.S. Dollars, ($____________.00). This is a business loan
and
HJEC agrees to repay the amount stated.
This
Promissory Note is made based on:
Our
company receiving in early January a revolving letter of credit from the
nation of Italy in
the
amount of $9,200,000.00 USD, to supply an ongoing order of steam grade &
metallurgical
(coking)
coal from several States, i.e. Arkansas, Alabama, and Virginia for use in power
generation
and the steel industry.
Secondly,
the acquisition of coal purchase orders for two Virginia electrical
power plants and
an
industrial plant which will monthly net over $150,000.00 USD.
The
agreement duration ranges from 1 year to consecutive 5-year options up to 30
years.
This
agreement is made and entered into between the parties hereto dated this
_______ day
of
January 2003. Execution by an officer of this corporation indicates full
approval
and
consent of a quorum of the Board of Directors and fully binds the corporation
to this
obligation.
A signed fax copy carries the full weight and authority as an original
copy.
H&J
ENERGY COMPANY, INC. Lender
By:
_____________________________
By: ______________________________
Chief Operating Officer