Acceleration of Principal and Interest from Promissory Note
For Value Received, Bridgetech Holdings International, Inc., a Delaware corporation ("Maker"), hereby promises to pay to Bridgetech China Limited, a British Virgin Island corporation ("Payee" or the "Company"), in lawful money of the United States of America, the principal amount of Three Hundred Thousand Dollars ($300,000) (the "Principal") plus simple interest thereon calculated from the date hereof (the "Issue Date") until paid at the rate of eight percent (8%) per annum, payable in cash.
Acceleration of Principal and Interest. Upon occurrence of an Event of Default that has not been cured within thirty (30) days from the date of written notice by Payee, Payee may, at Payee's option and without notice, declare all Principal and interest due under this Note to be due and payable immediately. Payee may waive any default before or after it occurs and may restore this Note in full effect without impairing the right to declare it due for a subsequent default.