EXHIBIT 10.75

RACC
PROMISSORY NOTE

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                      RAYTHEON AIRCRAFT CREDIT CORPORATION



     1.  PROMISE  TO PAY.  FOR  VALUE  RECEIVED,  the  undersigned  (hereinafter
collectively  referred to as "Debtor")  jointly and severally (if more than one)
promise(s) to pay to the order of Raytheon Aircraft Credit Corporation,  at 9709
East  Central,  Wichita,  Kansas 67206  (hereinafter  referred to as "RACC") the
principal  sum of  $2,199,900,  together  with  interest from the date hereof as
specified below, until paid in full.

     2. RATE OF INTEREST.  Debtor  agrees to pay to RACC  interest on the unpaid
principal balance hereunder, as follows (check appropriate box):

     The rate of interest during months 1 - 24 of this loan shall be 8.5 percent
     per annum.

     The rate of  interest  during  months  25 - 144 of this  loan  shall be the
     "prime"  rate of interest in effect at the Bank of America  plus 0 percent.
     The rate of interest  shall  increase or  decrease in  accordance  with the
     "prime"  rate of interest in effect at the Bank of America on the first day
     of each calendar  quarter.  The Bank of America "prime" rate of interest as
     of the date hereof is 8.5 percent.

     3. PAYMENT SCHEDULE. Payment of the principal balance together with accrued
interest in accordance with paragraph 2, above, shall be made in 144 consecutive
monthly  installments.  The amount of each  installment  payment shall be $**See
Below.  This  installment  payment amount will increase or decrease in the event
the  applicable,  variable rate of interest  changes,  to adjust the installment
payments  as of the date of such change to an amount  which will fully  amortize
the indebtedness, with interest at the adjusted rate, over the remaining term of
this loan.  In such event,  RACC shall  notify  Debtor of the  adjusted  payment
amount.  The  first  installment  payment  is due on  January  18,  1998 and all
subsequent  payments  shall be due on or before the 18th day of each  succeeding
month,  until December 18, 2009, when the entire remaining  balance of principal
and interest  shall be paid in full.  During the period  Debtor is in default in
payment of any installment  hereunder,  when and as due, the rate of interest on
the unpaid  principal  balance  hereunder  shall be increased by two percent per
annum.

     Additional  terms,  if  applicable:  Payments  for  Months  1 - 24 shall be
$19,995.  Balloon  Payments of  $100,000  due in months 9 and 21.  Payments  for
months 25 - 144 to be determined and debtor advised.

     4. PAYMENT OF LOAN  PROCEEDS.  Debtor hereby  directs RACC to pay or credit
the loan proceeds to Raytheon Aircraft Company

     5. PREPAYMENT.  Debtor may prepay this obligation in part or in full at any
time. Any partial prepayment shall be first applied to accrued interest.

     6. SECURITY AGREEMENT.  To secure the payment of the indebtedness evidenced
by this  Promissory  Note and any renewals,  extensions or changes hereof and of
any and all other  indebtedness  of Debtor to RACC,  either  direct or indirect,
absolute or contingent,  whether now existing or hereafter  arising,  Debtor has
contemporaneously   herewith  executed  a  Security   Agreement  (the  "Security
Agreement")  granting RACC a purchase money  security  interest in the following
described  aircraft and/or other property  (collectively the "Collateral") to be
purchased by Debtor with the proceeds of the loan  evidenced by this  Promissory
Note.

     Raytheon  Aircraft Company Model No. King Air C90B, Serial Number LJ-1477,
     Registration  Number  N1107W,  together with all other property used in the
     operation of the aircraft or reflecting use or maintenance of the aircraft,
     including  but  not  limited  to  all  engines,  propellers,   instruments,
     avionics, equipment and accessories attached to, connected with, located in
     or removed from the aircraft and all logs manuals and maintenance  records.
     Aircraft  Engines:  Make Pratt & Whitney Model  PT6A-21,  Shaft  Horsepower
     550., Serial Number (L) PCEPE0067, Serial Number(R) PCEPE0071 together with
     any replacement engines. Aircraft Propellers: Hub Make McCauley, Hub Model
     4HFR34C768-C,  Hub Serial  Number (L) 970225 Hub Serial  Number (R) 970575,
     together with any replacement propellers.

     7. PURPOSE OF LOAN.  Debtor  warrants and represents to RACC that this loan
is for business and commercial purposes and not for personal,  family, household
or agricultural purposes.
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     8. PRINCIPALS AND WAIVERS. All signers, makers,  guarantors,  endorsers and
sureties hereof are to be regarded as principals,  jointly and severally.  Every
maker, endorser, guarantor and surety hereof hereby waives presentment,  notice,
protest and impairment of collateral, and consents to all extensions, deferrals,
partial payments and refinancings hereof before or after maturity.

     9. DEFAULT.  Upon Debtor's  failure to make any payment required under this
Promissory  Note, or if the prospect of payment,  performance  or realization on
the Collateral is significantly  impaired,  RACC may employ all remedies allowed
by law including,  where  permissible,  declaring all indebtedness due under the
Promissory  Note,  as well as any other  indebtedness  or liability of Debtor to
RACC,  immediately  due and payable.  The parties agree (by way of  illustration
only,  and  without  attempting  to list all  events  which  may do so) that the
occurrence of any of the following events will significantly impair the prospect
of payment,  performance or realization on the Collateral: (1) failure of Debtor
to perform any  covenant  made herein or in the  Security  Agreement;  (2) loss,
theft, substantial damage, destruction,  sale or encumbrance to or of any of the
Collateral, or the making of any levy, seizure or attachment thereof or thereon;
(3) death, dissolution,  termination of existence, insolvency, business failure,
inability to pay debts as they accrue, appointment of a receiver for any part or
all  of  the  property,   assignment  for  the  benefit  of  creditors,  or  the
commencement  of any  proceedings  under any bankruptcy or insolvency laws by or
against Debtor.

     10. WAIVER OF DEFAULT.  No waiver by RACC of any default shall be effective
unless in writing,  nor operate as a waiver of any other  default or of the same
default in the future.

     11. LOAN  APPLICATION.  Debtor hereby certifies that there are presently no
pending actions or proceedings  before any court or administrative  agency which
might adversely effect Debtor's  financial  condition,  and that all information
and  statements  made in any financial or credit  statement or  application  for
credit are true and correct.  Debtor acknowledges that RACC has relied upon such
information and statements in making this loan.

     12. CHANGE OF ADDRESS.  Debtor will  immediately  notify RACC in writing of
any change of address from that shown herein.

     13. GOVERNING LAW AND CHOICE OF FORUM.  THIS AGREEMENT WAS MADE AND ENTERED
INTO IN THE STATE OF KANSAS AND THE LAW GOVERNING THIS TRANSACTION SHALL BE THAT
OF THE STATE OF KANSAS AS IT MAY FROM TIME TO TIME EXIST. THE PARTIES AGREE THAT
ANY LEGAL  PROCEEDING  BASED  UPON THE  PROVISIONS  OF THIS  AGREEMENT  SHALL BE
BROUGHT  EXCLUSIVELY IN EITHER THE UNITED STATES DISTRICT COURT FOR THE DISTRICT
OF KANSAS AT WICHITA,  KANSAS,  OR IN THE EIGHTEENTH  JUDICIAL DISTRICT COURT OF
SEDGWICK  COUNTY,  KANSAS,  TO THE EXCLUSION OF ALL OTHER COURTS AND  TRIBUNALS.
NOTWITHSTANDING  THE ABOVE, IN THE EVENT AN EVENT OF DEFAULT SHOULD OCCUR,  RACC
(AT ITS SOLE OPTION) MAY INSTITUTE LEGAL  PROCEEDINGS IN ANY JURISDICTION AS MAY
BE APPROPRIATE  IN ORDER FOR RACC TO OBTAIN  POSSESSION OF THE  COLLATERAL.  THE
PARTIES  HEREBY  CONSENT  AND AGREE TO BE  SUBJECT  TO THE  JURISDICTION  OF THE
AFORESAID COURTS IN SUCH PROCEEDINGS.

     14. ENFORCEABILITY.  The unenforceability of any provision hereof shall not
affect the validity of any other provision hereof.

     15. BINDING  AGREEMENT.  All obligations of Debtor hereunder shall bind the
heirs, legal representatives, successors and assigns of Debtor. If there be more
than one Debtor,  their  liabilities  shall be joint and several.  All rights of
RACC hereunder  shall inure to the benefit of its  successors  and assigns.  16.
ASSIGNMENT.  RACC may transfer or assign all or any part of its interest in this
Promissory Note, including any guaranties,  without the consent of Debtor or any
other party. Debtor shall not sell, assign, transfer,  encumber or convey any of
its  interests in the  Collateral or in this  Promissory  Note without the prior
written consent of RACC.
<PAGE>

     17.  ENTIRE  AGREEMENT.  This  Promissory  Note and the Security  Agreement
constitute  the entire  agreement  between and among the parties with respect to
the subject  matter  hereof.  There are not verbal  understandings,  agreements,
representations  or warranties  not  expressly  set forth  herein.  Neither this
Promissory Note nor the Security  Agreement shall be changed orally, but only by
writing signed by the parties hereto.

DEBTOR HEREIN  ACKNOWLEDGES  THAT IT HAS READ AND FULLY  UNDERSTANDS  ALL OF THE
TERMS  AND  CONDITIONS  OF  THIS  PROMISSORY  NOTE.  BY  EXECUTION  HEREOF,  THE
UNDERSIGNED  HEREBY  CERTIFIES  THAT HE/SHE IS DULY  AUTHORIZED  TO EXECUTE THIS
PROMISSORY NOTE IN THE CAPACITY STATED BELOW.

Executed this 19th day of December, 1997, at Wichita, Kansas.

Debtor:        First Choice Melbourne 1, Inc.
               /s/ Gary R. Smith
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               President

Address:       5200 South Washington Avenue
               Titusville, FL 32780

RAYTHEON AIRCRAFT CREDIT CORPORATION

By: