DERMISONICS, INC.
PROMISSORY NOTE
$___________________ ____________, 2005
DERMISONICS, INC., a Nevada corporation (the "Company" or "Maker"),
promises to pay to BERRA HOLDINGS LTD., at Chancery Court, Leeward Highway,
Providencials, Turks & Caicos, or holder ("Payee"), on or before ____________,
2007 ("Maturity"), the sum of ____________ Thousand Dollars ($_____________),
with interest on the unpaid principal balance at the rate of eight percent
(8.0%) per annum, with principal and interest payable at Maturity.
A default ("Event of Default") shall occur on this Note upon (i) Maker's
failure to make the payment required on this Note; (ii) the filing of a petition
in bankruptcy by Maker which is not dismissed within sixty (60) days; or (iii)
the appointment of a receiver for Maker; (iv) an assignment for the benefit of
creditors. In the case of an Event of Default, the Payee shall have the right to
declare the entire principal and accrued but unpaid interest on this Note
immediately due and payable.
Payee shall be entitled to collect a reasonable attorneys' fee from the
Maker, as well as other costs and expenses reasonably incurred, in curing any
default or attempting collection of the payment due on this Note. This Note
shall be payable in lawful money of the United States. This Note shall be
governed by and construed solely in accordance with the laws of the State of
Nevada. If any term, provision, covenant, or condition of this Note is held to
be invalid, void, or unenforceable, the rest of the Note shall remain in full
force and effect and shall in no way be affected, impaired, or invalidated.
This Note shall be payable in full at any time prior to the maturity date
with pre-payment penalty.
IN WITNESS WHEREOF, Xxxxx has executed this Promissory Note as of the day
first hereinabove written at Irvine, California.
MAKER: DERMISONICS, INC.
By:
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Xxxxx X. Xxxxxxx,
Chairman
