For value received, the undersigned Video Without Boundaries, Inc. (the “Borrower"), at 1975 E. Sunrise Blvd.
5th F1oor, Ft. Lauderdale, Florida 33304, promises to pay to the order of David Aubel, (the “Lender"), at
1802-102 N. University Dr. #289, Plantation, Florida 33322, (or at such other place as the Lender may
designate in writing) the sum of $561,517.27 with interest from January 01, 2001, on the unpaid principal at the
rate of 8.00% per annum.
The unpaid principal and accrued interest shall be payable in full on any future date on which the Lender demands
repayment (the "Due Date").
All payments on this Note shall be applied first in payment of accrued interest and any remainder in payment of
The Borrower reserves the right to prepay this Note (in whole or in part) prior to the Due Date with no
If any payment obligation under this Note is not paid when due, the Borrower promises to pay all costs of
collection, including reasonable attorney fees, whether or not a lawsuit is commenced as part of the collection
This Note is secured by a UCC-l Filing on all Tangible Assets and an option by creditor to convert debt into Rule
144 common stock as per Exhibit “A” attached to this note, dated May 23,2001. The Lender is not required to
rely on the above security instrument and the assets secured therein for the payment of this Note in the case of
default, but may proceed directly against the Borrower.
If any of the following events of default occur, this Note and any other obligations of the Borrower to the Lender,
shall become due immediately, without demand or notice:
1) the fai1ure of the Borrower to pay the principal and any accrued interest in fun on or before the Due
2) the death of the Borrower or Lender;
3) the filing of bankruptcy proceedings involving the Borrower as a debtor;
4) the application for the appointment of a receiver for the