<PAGE>

                                                                   EXHIBIT 10.24


                      AMENDED AND RESTATED PROMISSORY NOTE

$408,546.54                                                        March 6, 2003

      Effective as of the Closing Date (as defined in the Contribution
Agreement), the undersigned (the "Borrower") has elected to contribute (i) all
shares of common stock, par value $.01 per share, of Coinmach Laundry
Corporation, a Delaware corporation (the "Company"), issued to the Borrower (the
"CLC Common Stock") pursuant to that certain Coinmach Laundry Corporation Equity
Participation Program Restricted Common Stock Purchase Agreement, dated December
17, 2000, and (ii) shares of common stock, par value $.01 per share, of
Appliance Warehouse of America, Inc., a Delaware corporation, to be issued to
the Borrower by the Company (the "AWA Common Stock", and together with the CLC
Common Stock, the "Contributed Stock"), to Coinmach Holdings, LLC, a Delaware
corporation ("Holdings"). In consideration for the contribution to Holdings of
the Contributed Stock, the Borrower will be issued 4,539,406 common units of
Holdings (the "Units") pursuant to the Management Contribution Agreement, dated
March 5, 2003, by and between Holdings and the Borrower (the "Contribution
Agreement").

      This Amended and Restated Promissory Note (the "Note") made by Borrower in
favor of the Company, is issued in substitution and exchange for, and not in
satisfaction or payment of, and shall represent an amendment and restatement of,
the Senior Management Promissory Note, dated December 17, 2000 (the "Original
Note"). Nothing herein contained shall be construed to deem such Original Note
paid, or to release or terminate any lien or security interest given to secure
such Original Note, which liens and security interests, if any, shall continue
to secure such indebtedness as evidenced by this Note.

      For value received, the Borrower promises to pay to the Company, in lawful
money of the United States of America, the principal sum of $408,546.54 (the
"Principal Amount"). Principal payments required to be made under this Note
shall be payable in the amounts and on the dates set forth on the amortization
schedule attached hereto. Borrower promises to pay interest to the order of the
Company on the unpaid Principal Amount hereof at the rate of 7% per annum.
Interest shall accrue from the date hereof until this Note is paid in full and
shall be payable on the principal payment dates set forth on the amortization
schedule attached hereto; provided, however, that interest due under this Note
on the first interest payment date following the date hereof shall include, in
addition to the interest that shall have accrued on this Note through such date,
interest that accrued on the Original Note from the interest payment date
immediately preceding the date hereof on which accrued interest was payable
under the Original Note through but not including the date hereof. Interest
shall be computed on the basis of a 365-day year in accordance with the actual
number of days elapsed. In no event shall interest charged hereunder, in
whatever manner such rate of interest may be characterized or computed, exceed
the highest rate permissible under applicable law.

      This Note (i) is secured by a pledge of the Units received by the Borrower
pursuant to the Contribution Agreement, (ii) is held under the terms of an
Amended and Restated Security Agreement of even date herewith by and between
Holdings and the Borrower and (iii) is subject to all of the provisions thereof.

<PAGE>

      The holder of this Note shall have full recourse against the Borrower
personally for failure to pay the Note as and when due. The Company shall be
entitled to setoff, deduct or withhold from any amounts owing from the Company
or any of its subsidiaries to Borrower any amounts due and owing to the Company
by Borrower under this Note. Borrower may prepay any portion of this Note at any
time.

      Whenever possible, each provision of this Note shall be interpreted in
such manner as to be effective and valid under applicable law, but if any
provision of this Note shall be prohibited by or invalid under applicable law,
such provision shall be ineffective only to the extent of such prohibition or
invalidity, without invalidating the remainder of such provision or the
remaining provisions of this Note. All references in this Note to Borrower or
the Company shall be deemed to include, as applicable, a reference to their
respective permitted successors and assigns. Borrower waives presentment for
payment, protest, notice of protest and notice of non-payment of this Note. This
Note shall be governed by the laws of the State of New York as they apply to
contracts entered into and wholly to be performed within such state. EACH OF
BORROWER AND THE COMPANY IRREVOCABLY CONSENTS AND SUBMITS TO THE NON-EXCLUSIVE
JURISDICTION OF THE COURTS OF THE STATE OF NEW YORK AND THE UNITED STATES
DISTRICT COURT FOR THE SOUTHERN DISTRICT OF NEW YORK AND WAIVES ANY OBJECTION
BASED ON VENUE OR FORUM NON CONVENIENS WITH RESPECT TO ANY ACTION INSTITUTED
THEREIN ARISING UNDER THIS NOTE.

                                             MCS CAPITAL, INC.

                                             By:   /S/  STEPHEN R. KERRIGAN
                                                 -------------------------------
                                                 Name:  Stephen R. Kerrigan
                                                 Title: President

                                      -2-

<PAGE>

                              AMORTIZATION SCHEDULE

<TABLE>
<CAPTION>
Principal Payment Date                           Principal Amount
----------------------                           ----------------
<S>                                              <C>
    June 15, 2001                                  $ 18,157.63
    June 15, 2002                                  $ 18,157.63
    June 15, 2003                                  $ 18,157.63
    June 15, 2004                                  $ 18,157.63
    June 15, 2005                                  $ 18,157.63
    June 15, 2006                                  $ 18,157.63
    June 15, 2007                                  $ 18,157.63
    June 15, 2008                                  $ 18,157.63
    June 15, 2009                                  $ 18,157.63
    June 15, 2010                                  $245,127.87
</TABLE>