EXHIBIT 10.86

                                 PROMISSORY NOTE


                                                             Hallandale, Florida
$200,000.00                                                         May 11, 2000


     FOR VALUE  RECEIVED,  PEACHES  ENTERTAINMENT  CORPORATION  ("Borrower"),  a
Florida  corporation  whose  principal place of business is located at 1180 East
Hallandale Beach Boulevard,  Hallandale,  Florida 33009,  does hereby promise to
pay to the order of Bear Stearns Securities Corporation,  as Custodian for Allan
Wolk Individual Retirement Account Rollover (the "Payee"),  whose address is 245
Park Avenue,  New York, New York 10167,  the sum of TWO HUNDRED THOUSAND DOLLARS
($200,000.00), on December 20, 2000, with interest on such principal amount from
the date of  disbursement to the date of repayment at the rate of twelve percent
(12%)  per  annum.   Payment  of  this  Note  shall  be  made  at  the   Payee's
above-described  address in such  currency of the United States of America as at
the time of payment shall  constitute legal tender for the payment of public and
private debts.

     Upon the  occurrence of an event of default,  as hereinafter  defined,  the
principal  amount of this Note shall be due and  payable  immediately,  in full,
together  with  interest  accrued  to the date of  payment.  The term  "event of
default" as used herein means any one of the following occurrences:

     (a) In the event that the  Borrower  should  become  insolvent,  or make an
assignment  for the  benefit  of  creditors  or apply for the  appointment  of a
receiver;  or in the  event of the  appointment  of a  receiver  or  trustee  in
bankruptcy  for the  Borrower;  or in the event that the  Borrower  shall file a
petition  under the U.S.  Bankruptcy  Code or any  amendment  thereof  or file a
petition or seek other relief under any  insolvency law providing for the relief
of  debtors;  or in the  event  that any such  petition  is  filed  against  the
Borrower; or

     (b) In the event of the liquidation or dissolution of the Borrower; or

     (c) In the event of the cessation of the business  activities for which the
Borrower was organized.

     The Borrower does hereby waive  presentment,  protest,  demand for payment,
notice of  dishonor,  notice of protest and all other  notices or demands of any
kind in connection with the delivery,  acceptance,  performance or default under
this Note.

     No act, delay,  extension,  omission or indulgence on the part of the Payee
or any other  holder of this Note  shall be deemed a waiver of any of the rights
of such holder against the Borrower hereunder, nor shall the failure to exercise
any such right or remedy when  available on any occasion be constructed as a bar
to or waiver of any such rights on any future occasion.

     If there should be a default by the Borrower in the payment of this Note or
an event of default,  as defined herein, and if the Payee or any other holder of
this Note shall incur any reasonable  expenses in connection with the collection
of any amount payable hereunder,  including without  limitation,  all reasonable
legal fees and expenses,  the Borrower  hereby agrees to pay all such  expenses,
including all such legal fees and expenses.

     This Note shall be governed by and  constructed in accordance with the laws
of the State of  Florida.  It may be prepaid by  Borrower in whole or in part at
any time upon payment of the interest  then accrued on the  principal  amount so
prepaid.


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<PAGE>

     IN  WITNESS  WHEREOF,  the  undersigned  has  caused  this  Note to be duly
executed on the above date.

                                        PEACHES ENTERTAINMENT CORPORATION

                                        By: /s/ Brian Wolk
                                            --------------------------------
                                        Name:  Brian Wolk
                                        Title: Executive Vice-President


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