<PAGE>   1
                                  EXHIBIT 10.84

                   SENIOR SUBORDINATED SECURED PROMISSORY NOTE

$1,778,802.80                                                     March 27, 2001
                                                              New York, New York


         FOR VALUE RECEIVED, the undersigned, GLOBAL COMMUNICATIONS OF NY, INC.
(the "Maker"), hereby promises to pay to FIDELITY HOLDINGS, INC., (together with
its successors and assigns, the "Payee"), the principal sum of $1,778,802.80
Dollars, with interest on the unpaid balance hereof from the date hereof at a
rate of eight and one-half percent (8-1/2%) interest per annum (the "Interest
Rate"). The principal amount of this Note may be increased by an amount equal to
any unpaid Fidelity Liabilities (as defined in the Stock Purchase Agreement, as
hereafter defined) and decreased by the cost of the Audit (as defined in the
Stock Purchase Agreement), in a manner contemplated by the Stock Purchase
Agreement. Further adjustments to the principal amount of this Note may also be
made pursuant to any indemnity payments under Section 8 of the Stock Purchase
Agreement. Principal and accrued interest shall be paid in equal payments every
three months in arrears beginning on March 27, 2002 for forty-eight (48) payment
amounts of $140,162 each.

         Both principal and interest shall be paid in lawful money of the United
States of America to Payee at Fidelity Holdings, Inc., 80-02 Kew Gardens Road,
Ste 5000, Kew Gardens, New York 11415, or at such other address as Payee may
designate by notice in writing to Maker, in immediately available funds.

         If any payment hereunder falls due on a Saturday, Sunday or legal
holiday, it shall be payable on the next succeeding business day and such
additional time shall be included in the computation of interest.

         This Note is issued pursuant to that certain Stock Purchase Agreement
by and among the Maker, the Payee and IG2, Inc., a Delaware corporation ("IG2"),
of even date herewith (the "Stock Purchase Agreement"), a copy of which
agreement is available for inspection at the Maker's principal office.
Notwithstanding any provision to the contrary contained herein, this Note is
subject and entitled to certain terms, conditions, covenants and agreements
contained in the Stock Purchase Agreement. Any transferee or transferees of this
Note, by their acceptance hereof, assume the obligations of the Maker in the
Stock Purchase Agreement with respect to the conditions and procedures for
transfer of this Note. Reference to the Stock Purchase Agreement shall in no way
impair the absolute and unconditional obligation of the Maker to pay both
principal and interest hereon as provided herein. All capitalized terms not
defined herein shall have the meanings ascribed thereto in the Stock Purchase
Agreement.

         This Note is also referred to in, and entitled to the benefits of, and
payment of this Note is secured by, certain collateral set forth in the security
agreements between the
<PAGE>   2
Maker and the Payee, and the Payee and IG2, of even date herewith (the "Security
Agreements").

         In addition, this Note is subject to the terms of that certain Pledge
Agreement of even date herewith by and between the Maker and the Payee (the
"Pledge Agreement").

         1. Subordination.

                  (a) The indebtedness evidenced by this Note is subordinated
and junior in right of payment to all Senior Indebtedness (as defined below) to
the extent and in the manner set forth in Sections 1(b) through 1(d) hereof.

                  (b) In the event of (i) any insolvency, bankruptcy,
receivership, liquidation, reorganization, debt readjustment or composition or
other similar proceeding relative to Maker, (ii) any proceeding for voluntary
liquidation, dissolution or other winding up of Maker or (iii) any assignment
for the benefit of creditors or any other marshaling of the assets of Maker,
then and in any such event the holders of all Senior Indebtedness shall first be
paid in full the principal thereof and prepayment charges, if any, and interest
at the time due thereon before any payment or distribution of any character,
whether in cash, securities or other property, shall be made on account of this
Note.

                  (c) Unless and until all Senior Indebtedness has been fully
paid and satisfied in cash, the Holder of this Note shall not accept or receive,
by setoff or in any other manner, from Maker the whole or any part of any sums
which may now or hereafter be owing to Holder by Maker;

                  (d) For purposes hereof, the term "Senior Indebtedness" shall
mean the principal, premium (if any), unpaid interest and other obligations
arising out of any extension of credit to the Maker made by equipment vendors
and lessors (including loans, lines of credit, guarantees or other financing
arrangements) with respect to telecommunication equipment, as described in the
letter from the Maker attached hereto.

         2. Seniority. The indebtedness evidenced by this Note and the payment
of the principal thereof shall be Senior (as hereinafter defined) to, and have
priority in right of payment over, all indebtedness of Maker, now outstanding or
hereinafter incurred, except for the Senior Indebtedness. "Senior" as used
herein shall be deemed to mean that, in the event of any default in the payment
of the obligations represented by this Note (after giving effect to "cure"
provisions, if any) or of any liquidation, insolvency, bankruptcy,
reorganization, or similar proceedings relating to the Maker, all sums payable
on this Note shall first be paid in full, with interest, if any, before any
payment is made upon any other indebtedness, now outstanding or hereinafter
incurred, except for the Senior Indebtedness, and, in any such event, any
payment or distribution of any character which shall be made in respect of any
other indebtedness of the Maker, other than the Senior Indebtedness, shall be
paid over to the Holder of this Note for application to the payment hereof,
unless and until the obligations under this Note (which shall mean the principal
<PAGE>   3
and other obligations arising out of, premium, if any, interest on, and any
costs and expenses payable under, this Note) shall have been paid and satisfied
in full.

         3. Events of Default.

         (a) Upon the occurrence of any of the following events (herein called
"Events of Default") which shall have occurred and be continuing:

                  (i) the Maker shall default in the payment of principal or
interest of this Note within five (5) calendar days when due; or

                  (ii) the Maker shall fail or neglect to perform, keep or
observe any of the provisions of Sections 6.1 or 6.2 hereof and the same shall
remain unremedied for a period ending on the first to occur of five (5) days
after the Maker shall receive written notice of any such failure from the Payee
or fifteen (15) days after the Maker shall become aware thereof; or

                  (iii) any representation or warranty contained in this Note,
the Stock Purchase Agreement, the Security Agreements and the Pledge Agreement
or in any written statement pursuant thereto or hereto, report, financial
statement or certificate made or delivered to the Payee by the Maker shall be
untrue or incorrect in any material respect, as of the date when made or deemed
made, and the same shall remain unremedied for a period ending on the first to
occur of five (5) days after the Maker shall receive written notice of any such
failure from the Payee or fifteen (15) days after the Maker shall become aware
thereof; or

                  (iv) a default shall occur under any other agreement, document
or instrument to which Maker is a party or by which the Maker's property is
bound, including, without limitation, under any this Note, the Stock Purchase
Agreement and the Security Agreement and such default (a) involves the failure
to make any payment (whether of principal, interest or otherwise) due (whether
by scheduled maturity, required prepayment, demand, acceleration or otherwise)
in respect of any Indebtedness (as hereinafter defined) in an aggregate amount
exceeding $25,000, or (b) causes such Indebtedness or a portion thereof in an
aggregate amount exceeding $25,000, to become due prior to its stated maturity
or prior to its regularly scheduled dates of payment; or

                  (v) (a) the Maker shall commence any proceeding or other
action relating to it in bankruptcy or seek reorganization, arrangement,
readjustment of its debts, receivership, dissolution, liquidation, winding-up,
composition or any other relief under the Bankruptcy Act, as amended, or under
any other insolvency, reorganization, liquidation, dissolution, arrangement,
composition, readjustment of debt or any other similar act or law, of any
jurisdiction, domestic or foreign, now or hereafter existing; or (b) the Maker
shall admit the material allegations of any petition or pleading in connection
with any such proceeding; or (c) the Maker applies for, or consents or
acquiesces to, the appointment of a receiver, conservator, trustee or similar
officer for it
<PAGE>   4
or for all or a substantial part of its property; or (4) the Maker makes a
general assignment for the benefit of creditors; or

                  (vi) (a) commencement of any proceedings or in the taking of
any other action against the Maker in bankruptcy or seeking reorganization,
arrangement, readjustment of its debts, liquidation, dissolution, arrangement,
composition, readjustment of debt or any other similar act or law of any
jurisdiction, domestic or foreign, now or hereafter existing and the continuance
of any of such events for sixty (60) days undismissed, unbonded or undischarged;
or (b) the appointment of a receiver, conservator, trustee or similar officer
for the Maker or for all or substantially all of its property and the
continuance of any of such events for sixty (60) days undismissed, unbonded or
undisclosed; or (c) the issuance of a warrant of attachment, execution or
similar process against any of the material assets of the Maker and the
continuance of such event for sixty (60) days undismissed, unbonded and
undischarged; or

                  (vii) any other event shall have occurred and be continuing,
or other material suspension of the authority of the Maker to conduct business,
which results or could result in a material adverse change in the financial
condition, business, assets, affairs or operations of the Maker, taken as a
whole; or

                  (viii) there shall occur a Change of Control in the Maker.
"Change of Control" means any of the following (a) the sale, lease, conveyance
or other disposition of all or substantially all of the Maker's assets as an
entirety or substantially as an entirety or substantially as an entirety to any
person or "group" (within the meaning of Section 13(d)(3) of the Securities
Exchange Act of 1934, as amended (the "Exchange Act")) in one or a series of
transactions; (b) the approval by the stockholders of the Maker of any plan or
proposal for the liquidation or dissolution of the Maker; (c) any transaction or
series of transactions (as a result of a tender offer, merger, consolidation or
otherwise) that results in any person, including a "group" (within the meaning
of Section 13(d)(3) of the Exchange Act) that includes such person, acquiring
"beneficial ownership" (as defined in Rule 13d-3 under the Exchange Act),
directly or indirectly, of 50% or more of the aggregate voting power of all
classes of common equity of the Maker; or

                  (ix) a judgment or judgments for the payment of money in
excess of $25,000 in the aggregate shall be rendered against the Maker and the
same shall not be (i) covered by insurance or (ii) vacated, stayed, bonded, paid
or discharged within sixty (60) days of said judgment; or

                  (x) any other event shall have occurred and be continuing,
which results or could result in a material adverse change in the financial
condition, business, assets, affairs or operations of the Maker, taken as a
whole;

         then, and in any such event the holder of the Note may by written
notice to the Maker declare the entire unpaid principal amount of the Note
outstanding together with accrued interest thereon at a rate (the "Late Rate")
equal to the lesser of (i) 24% per annum or (ii) the highest maximum rate
permitted by law, due and payable, and the same
<PAGE>   5
shall, unless such default be cured within ten (10) days after such notice,
forthwith become due and payable upon the expiration of such ten (10) day
period, without presentment, demand, protest, or other notice of any kind, all
of which are expressly waived.

         (b) Non-Waiver and Other Remedies. No course of dealing or delay on the
part of the holder of this Note in exercising any right hereunder shall operate
as a waiver thereof or otherwise prejudice the right of the holder of this Note.
No remedy conferred hereby shall be exclusive of any other remedy referred to
herein or now or hereafter available at law, in equity, by statute or otherwise.

         4. Prepayment Provisions. (a) This Note may be prepaid, at the option
of the Maker, at any time or from time to time, in each case on any date on or
after the date of issuance and prior to maturity, at a redemption price of 100%
of the principal amount of this Note, together with accrued interest through the
date of prepayment ("Voluntary Prepayment"). This Note may also be prepaid at
the option of the Payee ("Optional Prepayment") (i) within one (1) business day
of the consummation of a Financing Event (as defined herein), pursuant to
Schedule 4 attached hereto, or (ii) in full, within one (1) business day in the
event the Company consolidates, merges with or sells any of its respective
assets to another corporation not in the ordinary course of business unless the
other corporation controls, is under common control with or is controlled by
such Company immediately prior to such consolidation, merger or asset sale in
which event the Note shall remain outstanding as an obligation of the
consolidated, surviving or acquiring corporation. "Financing Event" shall mean
any (i) public or private offering of debt or equity securities or series of
such offerings or (ii) commercial bank, institutional or other financing, or
series of such financings, consummated subsequent to the date hereof, with
aggregate gross proceeds thereof between $22 and $30 million; provided, further,
that it is expressly agreed that any such financing which, by its terms, permits
the Company to use the proceeds thereof for general corporate purposes
including, without limitation, (A) to retire all or a portion of the debt of the
Company; (B) to pay trade payables; or (C) for working capital purposes shall
constitute a "Financing Event"; subject, however, to any permitted Senior
Indebtedness.

         (b) If this Note is called for Voluntary Prepayment pursuant to
subsection 4(a) of this Note, the Maker shall give written notice to the Payee
not less than 1 nor more than 10 days prior to the date fixed for the prepayment
thereof. Optional Prepayments may occur simultaneously with the event causing
the Optional Prepayment.

         Upon notice of any prepayment being given as provided in this
subsection 4(b), the Maker covenant and agree that the Maker will prepay on the
date therein fixed for prepayment the entire principal amount of this Note so as
to be prepaid as specified in such notice as the principal amount thereof,
together with interest accrued thereon to such date fixed for prepayment, plus
the applicable premium, if any.

         (c) Upon any partial prepayment of this Note, upon presentation as
herein provided, there shall be paid to the Payee the principal amount of the
portion of this Note
<PAGE>   6
so to be prepaid together with the unpaid interest accrued in respect thereof,
and either (i) this Note shall be surrendered by the holder, in which event the
Maker shall execute and deliver to or on the order of such holder, at the
expense of the Maker, a new Note for the principal amount of this Note remaining
unpaid, dated as of the date to which interest has been paid on this Note
surrendered, and registered in the name of the holder, or (ii) if the Payee and
the Maker shall so determine, this Note need not be so surrendered, but may be
made available to the Maker, at the place of payment specified herein, for
notation thereon of the payment of the portion of the principal so paid, in
which case the Maker shall make such notation and return the Note to or on the
order of the Payee.

         5. Principal Obligation. No provision of this Note shall alter or
impair the obligation of the Maker, which is absolute and unconditional, to pay
the principal of and interest on this Note at the place, at the respective
times, at the rates, and in the currency herein prescribed.

         6.1 Affirmative Covenants. The Maker covenants and agrees that, while
any amounts under this Note are outstanding, it shall:

                  (a) Perform, within all required time periods (after giving
effect to any applicable grace periods), all of its obligations and enforce all
of its rights under each material agreement to which it is a party. The Maker
shall not terminate or modify in any manner adverse to any such party any
provision of any such material agreement to which it is a party except in the
ordinary course of business, consistent with past practice;

                  (b) (i) do all things necessary to preserve and keep in full
force and effect its corporate existence, including, without limitation, all
licenses or similar qualifications required by them to engage in their business
in all jurisdictions in which they are at the time so engaged; and continue to
engage in business of the same general type as conducted as of the date hereof;
(ii) continue to conduct its business substantially as now conducted or as
otherwise permitted hereunder; and (iii) at all times maintain, preserve and
protect all of its trademarks and tradenames (if any), and preserve all the
remainder of its material property, in use or useful in the conduct of its
business and keep the same in good repair, working order and condition (taking
into consideration ordinary wear and tear) and from time to time make, or cause
to be made, all needful and proper repairs, renewals and replacements,
betterments and improvements thereto consistent with industry practices, so that
the business carried on in connection therewith may be properly and
advantageously conducted at all times. The Maker shall give written notice to
the Payee prior to the Maker's ceasing to conduct business in any country or
state;

                  (c) Pay and discharge promptly when due all taxes, assessments
and governmental charges or levies imposed upon it or upon its income or profits
or in respect of its property before the same shall become delinquent or in
default, which, if unpaid, might reasonably be expected to give rise to liens or
charges upon such properties or any part thereof, unless, in each case, the
validity or amount thereof is being contested in good faith by appropriate
proceedings and the Maker has maintained adequate reserves with respect thereto
in accordance with GAAP;
<PAGE>   7
                  (d) Comply in all material respects with all federal, state
and local laws and regulations, orders, judgments, decrees, injunctions, rules,
regulations, permits, licenses, authorizations and requirements applicable to it
(collectively, "Requirements") of all governmental bodies, departments,
commissions, boards, companies or associations insuring the premises, courts,
authorities, officials or officers which are applicable to the Maker or any of
its properties, except where the failure to so comply would not have a material
effect on the Maker or any of its properties; provided, however, that nothing
provided herein shall prevent the Maker from contesting the validity or the
application of any Requirements;

                  (e) Keep proper records and books of account with respect to
its business activities, in which proper entries, reflecting all of their
financial transactions, are made in accordance with GAAP; and

                  (f) Notify the Payee in writing, promptly upon learning
thereof, of any litigation or administrative proceeding commenced or threatened
against the Maker; and

         7.2 Negative Covenants. The Maker covenants and agrees that while any
amount of this Note is outstanding it will not directly or indirectly:

                  (a) Incur, create, assume or permit to exist any lien on any
of its properties or assets, whether owned at the date hereof or hereafter
acquired, or assign or convey any rights to or security interest in any future
revenues, except expressly subordinate to the lien being created under this
Note, except for any Senior Indebtedness;

                  (b) Declare or pay, directly and indirectly, any dividends or
make any distributions, whether in cash, property, securities or a combination
thereof, with respect to (whether by reduction of capital or otherwise) any
shares of its capital stock (including without limitation any preferred stock)
or directly or indirectly redeem, purchase, retire or otherwise acquire for
value any shares of any class of its capital stock or set aside any amount for
any such purpose;

                  (c) Consolidate with or merge into any other person, or sell,
lease, transfer or assign to any persons or otherwise dispose of (whether in one
transaction or a related series of transactions) 1% or more of its consolidated
properties or assets (whether now owned or hereafter acquired), or permit
another person to merge into it, except as contemplated herein;

                  (d) Own, purchase or acquire any stock, obligations, assets or
securities of, or any interest in, or make any capital contribution or loan or
advance of money, credit or property to, any other person, or make any other
investments, except that the Maker may own, purchase or acquire (i) existing
subsidiaries or subsidiaries formed for the purposes of facilitating
acquisitions or carrying out the ordinary business of the Maker subject to
Section 7.1(l); (ii) certificates of deposits of any commercial banks registered
to do business in any state of the United States having capital and surplus in
<PAGE>   8
excess of $50,000,000; (iii) readily marketable, direct obligations of the
United States government or any agency thereof which are backed by the full
faith and credit of the United States; and (iv) investments in prime commercial
paper; provided, however, that in each case mentioned in (ii), (iii) or (iv)
above, such obligations shall mature not more than 180 days from the date of
acquisition thereof;

                  (e) Sell, transfer, discount or otherwise dispose of any claim
or debt owing to it, including, without limitation, any notes, accounts
receivable or other rights to receive payment, except for reasonable
consideration and in the ordinary course of business;

                  (f) (i) Engage in any transaction in connection with which the
Maker could be subject to either a material civil penalty assessed pursuant to
the provisions of Section 502 of ERISA or a material tax imposed under the
provisions of Section 4975 of the Tax Code; (ii) terminate any pension plan in a
"distress termination" under Section 4041 of ERISA; or (iii) fail to make
payment when due of all amounts which, under the provisions of any employee or
pension plan, the Maker or any ERISA affiliate are required to pay as
contributions thereto, or, with respect to any pension plan, permit to exist any
material "accumulated funding deficiency" (within the meaning of Section 302 of
ERISA and Section 412 of the Tax Code), whether or not waived, with respect
thereto;

                  8. Required Consent. The Maker may not modify any of the terms
of this Note without the prior written consent of the holder of this Note.

                  9. Lost Documents. Upon receipt by the Maker of evidence
satisfactory to it of the loss, theft, destruction or mutilation of this Note or
any Note exchanged for it, and (in the case of loss, theft or destruction) of
indemnity satisfactory to it, and upon reimbursement to the Maker of all
reasonable expenses incidental thereto, and upon surrender and cancellation of
such Note, if mutilated, the Maker will make and deliver in lieu of such Note a
new Note of like tenor and unpaid principal amount and dated as of the original
date of this Note.

                  10. Miscellaneous.

                  (a) Parties in Interest. All covenants, agreements and
undertakings in this Note by and on behalf of any of the parties hereto shall
bind and inure to the benefit of the respective permitted successors and assigns
of the parties hereto whether so expressed or not.

                  (b) Notices. Any notices required or permitted to be sent
hereunder shall be delivered personally or mailed, certified mail, return
receipt requested, or delivered by overnight courier service to the addresses
stated in the Stock Purchase Agreement, or such other address as any party
hereto designates by written notice to the Maker, and shall be deemed to have
been given upon delivery, if delivered personally, three business days after
mailing, if mailed, or one business day after delivery to the courier, if
delivered by overnight courier service.
<PAGE>   9
                  (c) Construction. This Note shall be construed and enforced in
accordance with, and the rights of the parties shall be governed by, the laws of
the State of New York applicable to contracts made and to be performed wholly
within such State. Maker and Payee irrevocably consent and agree to the
exclusive jurisdiction of the Courts of the Sate of New York located in the City
of New York in any action or proceeding arising out of or connected with this
Note or any claim or controversy hereunder.

                  (d) Waiver of Jury Trial. The Maker hereby irrevocably waives
all right to trial by jury in any action, proceeding or counterclaim arising out
of or relating to this Note or the transaction contemplated hereby.
<PAGE>   10
         IN WITNESS WHEREOF, the Maker has caused this Note to be duly executed
on the date first above written.

                                   GLOBAL COMMUNICATIONS OF NY, INC.

                                   By:
                                       -----------------------------------------
                                       Kimberly Peacock, Chief Executive Officer
<PAGE>   11
                                   Schedule 4

<TABLE>
<CAPTION>
Gross Proceeds of Financing Event           Optional Prepayment Amount
---------------------------------           --------------------------
<S>                                         <C>
Greater than $22,000,000                    1/45 of the Note
Greater than $23,000,000                    1/15 of the Note
Greater than $24,000,000                    2/15 of the Note
Greater than $25,000,000                    2/9 of the Note
Greater than $26,000,000                    1/3 of the Note
Greater than $27,000,000                    7/15 of the Note
Greater than $28,000,000                    28/45 of the Note
Greater than $29,000,000                    12/15 of the Note
Greater than $30,000,000                    Entire amount of the Note
</TABLE>