US$10,000 November 8, 2007
FOR VALUE RECEIVED, CHINA RENEWABLE ENERGY HOLDINGS, INC., a Florida corporation (the
"Maker"), agrees and promises to pay to the order of Allen Huie, his successors and/or assigns (the "Holder") on
or before November 8, 2008 (the "Maturity Date") at the Holder's address 6-8 Harbour Road, Rm 286, 2/F,
Shui On Centre, Wanchai, Hong Kong, or such other place as designated in writing by the Holder of this
Promissory Note, the principal sum of TEN THOUSAND DOLLARS (US$10,000.00) (the "Loan"), with
interest at a rate of 7% per annum, payable in lawful money of the United States which shall be legal tender in
payment of all debts at the time of payment.
This Promissory Note may be prepaid at any time prior to the Maturity Date by the Maker without premium or
The entire principal amount and interest thereon of the Loan, shall be due and payable on the Maturity Date. In
the event that any payment of principal and interest falls due on a day that is Saturday, Sunday or holiday when
national banks in the United States must or may be closed for business, the payment shall be due on the
immediately following business day.
While any default exists in the making of any of the payment under this Promissory Note, the Maker hereby
promises to pay on the first day of each month interest on the principal balance of this Promissory Note then
outstanding at the rate representing eighteen percent (18%) per annum.
It is the intent of parties hereto that in no event shall the amount of interest due or payment in the nature of interest
payable hereunder exceed the maximum rate of interest allowed by applicable law, as amended from time to
time, and in the event any such payment is paid by the Maker or received by Holder, then such excess sum shall
be credited as a prepayment of principal, unless the Maker shall notify the Holder, in writing, that the Maker
elects to have such excess sum returned forthwith.
This Promissory Note shall not be mo