Installment Note - No Security

200,000.00 December 31, 1987


For Value Received, the undersigned promises to pay to the order of J.J. Sparacino the principal sum of Two Hundred Thousand Dollars ($200,000) and interest from December 31, 1987 on the balance of principal remaining from time to time unpaid at the rate of ten percent (10%) per annum, such principal sum and interest to be payable in installments as follows: Interest payable annually (March). Payment of principal -- Two Hundred Thousand Dollars ($200,000) on the 31st day of December, 1997 subject to the attached Subordination Agreement.


All payments on account of the indebtedness represented by this Note shall be applied first to accrued and unpaid interest and the remainder to principal. Any installments of principal not paid when due shall bear interest after maturity at the rate of seven percent per annum. Payments of both principal and interest shall be made at the office of the corporation or such other place as the legal holder hereof may from time to time in writing appoint.


It is hereby expressly understood and agreed that if default be made in the payment of any of the said installments of principal or of interest, the principal sum abov ...