FOR VALUE RECEIVED, Old Tucson Corporation, an Arizona corporation (“Maker”) promises to
pay to the order of Public Media Works, Inc., a Delaware corporation (the “Holder”) the principal sum of One
Hundred Twenty-Five Thousand Dollars and 00/100ths ($125,000.00) with interest from the date hereof on the
principal balance from time to time outstanding as hereinafter provided at the rate of four percent (4%) per
annum. The principal balance hereof, together with any accrued and unpaid interest hereon, shall be due and
payable in full on or before June 20 2004 (the “Maturity”).
Interest shall be computed on the basis of a 365 day year. Each and every payment made hereunder
shall be first applied to costs, expenses and fees, if any, then to interest due, and then to the reduction of the
principal amount hereof. All payments shall be in the lawful money of the United States of America.
The Maker shall have the option to prepay this Note, in full or in part, at any time without penalty.
This Note and any renewal or extension hereof is secured by a Collateral Stock Pledge Agreement
(the “Pledge Agreement”) of even date herewith by and between the Holder and Helaine Levy, Dana Pitt, Tracy
Pitt and Lindsay Pitt (“Pledgors”). The Pledgors have not and do not personally guaranteed this Note. The
obligations of the Maker under this Note are limited to the collateral pledged in the Pledge Agreement and the
Holder shall have no recourse against the assets of OTC upon a default of this Note.
Maker agrees that (a) Maker will pay all costs and expenses of collection of this Note, including
reasonable attorneys’ fees; (b) if the interest is not paid when due, it shall become a part of the principal and
thereafter bear the same rate of interest; and (c) at the option of Holder and without limitation to the occurrence
of the following events, the unpa