--------------------------------------------------------------------------------

EXHIBIT 10.2
 

 
SCHEDULE B — PROMISSORY NOTE
 
1.      Names:
 
Investor:                                 Larry Powalisz, President
 K & L International Enterprises, Inc. 1
 375 State Road 436
 Casselberry, FL 32707
 
Issuer/Affiliate:                   Robert Atwell, President
 Camelot Entertainment Group, Inc.
 8001 Irvine Center Drive, Suite 400
 Irvine, CA 92618
 
2.     Promise to Pay.
 
In consideration of the debt listed in the "Wrap Around Agreement" (incorporated
herein by reference), permitting the Issuer to fulfill debt obligations due and
owed to the Affiliate, the Investor agrees to purchase the debt due and owed the
Affiliate from the Issuer for $200,000.00 (Two Hundred Thousand Dollars)
 
3.      Principal Payment.
 
Issuer will pay the principal in full on or before August 31, 2010 , together
with any accrued interest. No interest shall accrue for the first 60 days from
the date of this agreement. Outstanding principal will accrue interest at the
rate of 15 % (fifteen percent) per annum.
 
4.      Collection Costs.
 
If Investor prevails in a lawsuit to collect on this note, Issuer will pay
Investor's costs and lawyers' fees in an amount the court finds to be
reasonable.

 
 
 
 

--------------------------------------------------------------------------------

 
 
5. Notices.
 
All notices must be in writing. A notice may be delivered to Issuer or Investor
at the address specified in Section I, above, or to a new address Issuer or
Investor has designated in writing. A notice may be delivered:
 
(1) in person
 
(2) by certified mail, or
 
(3) by overnight courier.
 
6. Governing Law.
 
This promissory note will be governed by and construed in accordance with the
laws of the state of Florida.
 
7. Severability.
 
If any court determines that any provision of this promissory note is invalid or
unenforceable, any invalidity or unenforceability will affect only that
provision and will not make any other provision of this agreement invalid or
unenforceable and such provision shall be modified, amended, or limited only to
the extent necessary to render it valid and enforceable.
 
Dated: August 3, 2009
 
By:/s/ Larry Powalisz
Larry Powalisz, President
K & L International Enterprises, Inc.
1375 State Road 436
Casselberry, FL 32707
 
By:/s/Robert Atwell
Robert Atwell, President
Camelot Entertainment Group, Inc.
8001 Irvine Center Drive, Suite 400
Irvine, CA 92618
 
 
 
 

--------------------------------------------------------------------------------