<PAGE>
                                                                    Exhibit 99.5
                                 PROMISSORY NOTE

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

$10,000,000.00                                                     July 31, 2003

     FOR VALUE RECEIVED, the undersigned, FIRST ADVANTAGE CORPORATION (the
"Borrower"), hereby promises to pay to the order of THE FIRST AMERICAN
CORPORATION (the "Lender"), a California corporation, whose address is 1 First
American Way, Santa Ana, California 92707, the principal sum of Ten Million
Dollars ($10,000,000.00), together with interest on the outstanding principal
balance hereof at the rate provided herein. This Note shall be governed by the
following provisions:

     1. Advances. The loan evidenced by this Note is a revolving loan, and the
Borrower may borrow, repay and reborrow principal amounts hereunder during the
term hereof subject to the terms contained herein. Notwithstanding the
foregoing, the outstanding principal balance hereof shall not exceed
$10,000,000.00 at any one time.

     2. Payments.

          (a) The Borrower shall pay all accrued interest hereunder on the first
     day of each calendar month during the term hereof commencing on September
     1, 2003, and continuing on the first day of each calendar month thereafter.

          (b) The Borrower shall pay all outstanding principal hereunder,
     together with all then accrued and unpaid interest, on July 31, 2006 (the
     "Maturity Date").

          (c) This Note will be considered renewed if and only if the Lender has
     sent to Borrower a written notice of renewal (the "Renewal Notice")
     effective as of the Maturity Date. If this Note is renewed, it will
     continue to be subject to all the terms and conditions set forth herein
     except as modified by the Renewal Notice. If this Note is renewed, the term
     "Maturity Date" shall mean the date set forth in the Renewal Notice as the
     Maturity Date and all outstanding principal plus all accrued interest shall
     be paid on the Maturity Date. The same process for renewal will apply to
     any subsequent renewal of this Note.

     3. Interest.

          (a) Interest shall accrue on the outstanding principal balance of this
     Note at the rate payable under Bank of America Line, plus 0.5% per annum;
     provided, however, that in the event the Bank of America Line has
     terminated or is otherwise not in effect, interest shall accrue at a rate
     equal to the Adjusted Libor Rate (as defined below) in effect on the date
     on which the Bank of America Line has terminated or is otherwise not in
     effect and shall be adjusted on each Interest Rate Adjustment Date (as
     defined below) so that interest shall accrue at the Adjusted Libor Rate for
     the Interest Period (as defined below) commencing on such Interest Rate
     Adjustment Date.

<PAGE>

          (b) Interest shall be calculated on the basis of a 360 day year (based
     upon the actual number of days elapsed) (or, at the Lender's option, on the
     basis of a 360-day year consisting of twelve 30-day months).

          (c) The total liability of the Borrower and any endorsers or
     guarantors hereof for payment of interest shall not exceed any limitations
     imposed on the payment of interest by applicable usury laws. If any
     interest is received or charged by any holder hereof in excess of that
     amount, the Borrower shall be entitled to an immediate refund of the
     excess.

          (d) Notwithstanding any contrary provision set forth herein, any
     principal of, and to the extent permitted by applicable law, any interest
     on this Note, and any other sum payable hereunder, that is not paid when
     due shall bear interest, from the date due and payable until paid, payable
     on demand, at a rate per annum (the "Default Rate") equal to the lesser of:
     (i) the rate per annum otherwise payable under Section 3(a) hereof, as
     applicable, plus four and a half percent (4.5%) per annum; or (ii) the
     highest rate permitted by law.

     4. Prepayment. The Borrower shall be entitled to prepay this Note in whole
or in part at any time without penalty.

     5. Application of Payments. All payments hereunder shall be applied first
to the Lender's costs and expenses, then to interest and then to principal.

     6. Default. If any Event of Default (as defined below) or any Default (as
defined below) shall occur, any obligation of the Lender to make advances
hereunder shall be terminated without notice to the Borrower. In addition, if
any Event of Default shall occur, the Lender may declare the outstanding
principal of this Note, all accrued and unpaid interest hereunder and all other
amounts payable under this Note to be forthwith due and payable. Thereupon, the
outstanding principal of this Note, all such interest and all such amounts shall
become and be forthwith due and payable, without presentment, demand, protest or
further notice of any kind, all of which are hereby expressly waived by the
Borrower. Upon the occurrence of any Event of Default, the outstanding principal
of this Note, and any accrued and unpaid interest, shall bear interest at the
Default Rate.

     7. Expenses. All parties liable for the payment of this Note agree to pay
the Lender all costs incurred by it in connection with the collection of this
Note. Such costs include, without limitation, fees for the services of counsel
and legal assistants employed to collect this Note, whether or not suit be
brought, and whether incurred in connection with collection, trial, appeal or
otherwise. All such parties further agree to indemnify and hold the Lender
harmless against liability for the payment of state documentary stamp taxes,
intangible personal property taxes or other taxes (including interest and
penalties, if any) excluding income or service taxes of the Lender, which may be
determined to be payable with respect to this transaction.

     8. Late Charge. If any scheduled payment hereunder is 15 or more days late,
the Borrower shall pay a fee equal to 4% of the unpaid portion of the scheduled
payment. The fee is not a penalty, but liquidated damages to defray
administrative and related expenses due to such late payment. The fee shall be
immediately due and payable and shall be paid by the Borrowers to the

                                        2

<PAGE>

Lender without notice or demand. This provision for a fee is not and shall not
be deemed a grace period, and Lender has no obligation to accept a late payment.
Further, the acceptance of a late payment shall not constitute a waiver of any
default then existing or thereafter arising under this Note.

     9. Miscellaneous. The Borrower shall make all payments hereunder in lawful
money of the United States at the Lender's address set forth herein or at such
other place as the Lender may designate in writing. The remedies of the Lender
as provided herein shall be cumulative and concurrent, and may be pursued
singly, successively or together, at the sole discretion of the Lender and may
be exercised as often as occasion therefor shall arise. No act of omission or
commission of the Lender, including specifically any failure to exercise any
right, remedy or recourse, shall be effective, unless set forth in a written
document executed by the Lender, and then only to the extent specifically
recited therein. A waiver or release with reference to one event shall not be
construed as continuing, as a bar to, or as a waiver or release of any
subsequent right, remedy or recourse as to any subsequent event. This Note shall
be construed and enforced in accordance with Florida law and shall be binding on
the successors and assigns of the parties hereto. The term "Lender" as used
herein shall mean any holder of this Note. If more than one person or entity
executes this Note, such persons and entities shall be jointly and severally
liable hereunder. The Lender may, at its option, round any or all fractional
interest rates under paragraph 3 upwards to the next higher 1/100 of 1%. The
Borrower hereby: (a) waives demand, notice of demand, presentment for payment,
notice of nonpayment or dishonor, protest, notice of protest and all other
notice, filing of suit and diligence in collecting this Note, or in the Lender's
enforcing any of its rights under any guaranties securing the repayment hereof;
(b) agrees to any substitution, addition or release of any collateral or any
party or person primarily or secondarily liable hereon; (c) agrees that the
Lender shall not be required first to institute any suit, or to exhaust his,
their or its remedies against the Borrower or any other person or party to
become liable hereunder, or against any collateral in order to enforce payment
of this Note and (d) consent to any extension, rearrangement, renewal or
postponement of time of payment of this Note and to any other indulgency with
respect hereto without notice, consent or consideration to any of them.

     10. Arbitration. The Borrower, and the Lender by its acceptance hereof,
agree to the following arbitration provisions:

          (a) These arbitration provisions govern the resolution of any
     controversies or claims between the Borrower and the Lender, whether
     arising in contract, tort or by statute, including but not limited to
     controversies or claims (collectively, a "Claim") that arise out of or
     relate to: (i) this Note (including any renewals, restatements, extensions
     or modifications hereof); or (ii) any document related to this Note.

          (b) At the request of the Borrower or the Lender, any Claim shall be
     resolved by binding arbitration in accordance with the Federal Arbitration
     Act (Title 9, U. S. Code) (the "Arbitration Act"). The Arbitration Act will
     apply even though this Note provides that it is governed by the law of a
     specified state. Arbitration proceedings will be determined in accordance
     with the Arbitration Act, the rules and procedures for the arbitration of
     financial services disputes of JAMS or any successor thereof ("JAMS"), and
     the terms of this Section.

                                        3

<PAGE>

     In the event of any inconsistency, the terms of this Section shall control.
     The arbitration shall be administered by JAMS and conducted in Hillsborough
     County, Florida. All Claims shall be determined by one arbitrator. However,
     if Claims exceed $1,000,000, upon the request of any party, the Claims
     shall be decided by three arbitrators. All arbitration hearings shall
     commence within 90 days of the demand for arbitration and close within 90
     days of commencement and the award of the arbitrator or arbitrators, as the
     case may be, shall be issued within 30 days of the close of the hearing.
     However, the arbitrator or arbitrators, as the case may be, upon a showing
     of good cause, may extend the commencement of the hearing for up to an
     additional 60 days. The arbitrator or arbitrators, as the case may be,
     shall provide a concise written statement of reasons for the award. The
     arbitration award may be submitted to any court having jurisdiction to be
     confirmed and enforced.

          (c) The arbitrator(s) will have the authority to decide whether any
     Claim is barred by the statute of limitations and, if so, to dismiss the
     arbitration on that basis. For purposes of the application of the statute
     of limitations, the service on JAMS under applicable JAMS rules of a notice
     of Claim is the equivalent of the filing of a lawsuit. Any dispute
     concerning this arbitration provision or whether a Claim is arbitrable
     shall be determined by the arbitrator(s). The arbitrator(s) shall have the
     power to award legal fees pursuant to the terms of this Note.

          (d) These arbitration provisions do not limit the right of the
     Borrower or the Lender to: (i) exercise self-help remedies, such as but not
     limited to, setoff; (ii) initiate judicial or nonjudicial foreclosure
     against any real or personal property collateral; (iii) exercise any
     judicial or power of sale rights, or (iv) act in a court of law to obtain
     an interim remedy, such as but not limited to, injunctive relief, writ of
     possession or appointment of a receiver, or additional or supplementary
     remedies.

          (e) By agreeing to binding arbitration, the Borrower and the Lender
     irrevocably and voluntarily waive any right they may have to a trial by
     jury in respect of any Claim. Furthermore, without intending in any way to
     limit this agreement to arbitrate, to the extent any Claim is not
     arbitrated, the parties irrevocably and voluntarily waive any right they
     may have to a trial by jury in respect of such Claim. This provision is a
     material inducement for the Borrower's executing, and the Lender's
     accepting, this Note. No provision in this Note or in any document related
     hereto regarding submission to jurisdiction or venue in any court is
     intended or shall be construed to be in derogation of the provisions of
     this Note or in any such other document for arbitration of any controversy
     or claim.

     11. Assignment. The Lender may sell or offer to sell this Note, together
with any and all documents guaranteeing, securing or executed in connection with
this Note, to one or more assignees without notice to or consent of the
Borrower. The Lender is hereby authorized to share any information it has
pertaining to the loan evidenced by this Note, including without limitation
credit information on the undersigned, any of its principals, or any guarantors
of this Note, to any such assignee or prospective assignee.

                                        4

<PAGE>

     12. NOTICE OF FINAL AGREEMENT. THIS WRITTEN PROMISSORY NOTE REPRESENTS THE
FINAL AGREEMENT BETWEEN THE PARTIES AND MAY NOT BE CONTRADICTED BY EVIDENCE OF
PRIOR, CONTEMPORANEOUS, OR SUBSEQUENT ORAL AGREEMENTS OR UNDERSTANDINGS OF THE
PARTIES. THERE ARE NO UNWRITTEN ORAL AGREEMENTS BETWEEN THE PARTIES.

     13. Defined Terms.

          (a) "Adjusted Libor Rate" for each Interest Period shall mean a rate
that is equal to the applicable Libor Rate (as defined below) plus 1.75% per
annum.

          (b) "Bank of America Line" means the loan from Bank of America, N.A.
(and/or its permitted assigns) to the Borrower evidenced by the Loan Agreement
and other documents delivered in connection therewith, including, without
limitation, that certain Promissory Note, made by Borrower in favor of Bank of
America, N.A. on July 31, 2003, as amended, modified or substituted.

          (c) "Banking Business Day" shall mean each day other than a Saturday,
a Sunday or any holiday on which commercial banks in Orange County, California
are closed for business.

          (d) "Default" means the occurrence of any event or condition that
would constitute an Event of Default hereunder upon the satisfaction of any
requirement for notice or passage of time in connection with such event or
condition.

          (e) "Event of Default" mean the occurrence of any one of the following
events:

               (i) if the Borrower defaults in the payment of any principal,
          interest or other amount under this Note, either by the terms thereof
          or otherwise as provided herein and such default continues for a
          period of ten days thereafter; or

               (ii) if the Borrower or any Subsidiary defaults: (i) in any
          payment of principal of or interest on any other obligation for
          borrowed money beyond any period of grace provided with respect
          thereto or (ii) in the performance or observance of any other
          agreement, term, or condition contained in any agreement under which
          any such obligation is created if the effect of such default is to
          cause, or permit the holder or holders of such obligation (or trustee
          on behalf of such holder or holders) to cause, such obligation to
          become due prior to its stated maturity, except for obligations
          disputed in good faith if the Lender is promptly notified thereof and,
          if required by GAAP, funded reserves are established; or

               (iii) if any Event of Default occurs under the Loan Agreement
          when such Loan Agreement is in effect; or

               (iv) if the Borrower or any Subsidiary makes an assignment for
          the benefit of creditors or is generally not paying its debts as they
          become due; or

                                        5

<PAGE>

               (v) if any order, judgment or decree is entered under the
          bankruptcy, reorganization, compromise, arrangement, insolvency,
          readjustment of debt, dissolution or liquidation or similar law of any
          jurisdiction adjudicating the Borrower or any Subsidiary, bankrupt or
          insolvent; or

               (vi) if the Borrower or any Subsidiary petitions or applies to
          any tribunal for, or consents to, the appointment of a trustee,
          receiver, custodian, liquidator, or similar official, of the Borrower
          or any Subsidiary or of any substantial part of the assets of the
          Borrower or any Subsidiary, or commences a voluntary case under the
          Bankruptcy Code of the United States or any proceedings relating to
          the Borrower or any Subsidiary, under the bankruptcy, insolvency, or
          moratorium law of any other jurisdiction, whether now or hereafter in
          effect; or

               (vii) if any such petition or application is filed, or any such
          proceedings are commenced, against the Borrower or any Subsidiary and
          if the Borrower or the Subsidiary by any act indicates its approval
          thereof, consent thereto, or acquiescence therein, or an order is
          entered in an involuntary case under the Bankruptcy Code of the United
          States, or an order, judgment or decree is entered appointing any such
          trustee, receiver, custodian, liquidator, or similar official, or
          approving the petition in any proceedings, and such order remains
          unstayed and in effect for more than 60 days; or

               (viii) if any order is entered in any proceedings against the
          Borrower or any Subsidiary decreeing the dissolution or split-up of
          the Borrower or any Subsidiary or if the Borrower or any Subsidiary
          dissolves (or is dissolved) or its existence is terminated; or

               (ix) if any judgment or judgments are entered against the
          Borrower or any Subsidiary, or against the Property of any such
          Person, in an aggregate amount in excess of $100,000 that remains
          unvacated, unbonded, unstayed or unsatisfied for a period of 45 days.

          (f) "GAAP" means generally accepted accounting principles set forth
from time to time in the opinions and pronouncements of the Accounting
Principles Board and the American Institute of Certified Public Accountants and
statements and pronouncements of the Financial Accounting Standards Board (or
agencies with similar functions of comparable stature and authority within the
U.S. accounting profession), which are applicable to the circumstances as of the
date of determination.

          (g) "Interest Rate Adjustment Date" means the first Banking Business
Day of the calendar month immediately following the month in which the Bank of
America Line has terminated or is otherwise not effect.

                                        6

<PAGE>

          (h) "Libor Rate" for each Interest Period shall mean the offered rate
for deposits in United States dollars in the London Interbank market for a one
month period which appears on the Libor Rate Reference Page (as defined herein)
as of 11:00 a.m. (London time) on the day that is two London Banking Days (as
defined herein) preceding the first calendar day of the Interest Period (as such
rate may be adjusted from time to time in the Bank's sole discretion for reserve
requirements, deposit insurance assessment rates and other regulatory costs). If
at least two such offered rates appear on the Libor Rate Reference Page, the
rate will be the arithmetic mean of such offered rates.

          (i) "Libor Rate Reference Page" shall mean any of the following
reference pages or sources (as selected from time to time by the Bank in its
discretion): (aa) the Dow Jones Telerate Page 3750; (bb) the Reuters Screen LIBO
Page; or (cc) such other index or source as Lender may in its sole discretion
select showing rates offered for United States dollar deposits in the London
Interbank market.

          (j) "Loan Agreement" means that certain Loan Agreement, made as the
31st day of July, 2003, by and between the Borrower and Bank of America, N.A.,
as such Loan Agreement may be amended from time to time.

          (k) "London Banking Day" means each day other than a Saturday, a
Sunday or any holiday on which commercial banks in London, England are closed
for business.

          (l) "Person" means an individual, partnership, corporation, limited
liability company, association, trust, unincorporated organization or any other
entity or organization, including a government or agency or political
subdivision thereof.

          (m) "Subsidiary" means any corporation or other Person more than 50%
of the outstanding ordinary voting shares or other equity interests of which is
at the time directly or indirectly owned by the Borrower, by one or more of its
Subsidiaries, or by the Borrower and one or more of its Subsidiaries.

                                        FIRST ADVANTAGE CORPORATION


                                        By:         /s/  John Lamson

                                           -------------------------------------
                                           Name: John Lamson
                                           Its:  Executive Vice President,

                                                 Chief Financial Officer

                                        7