<PAGE>   1

                                                                EXHIBIT 10.36
        
                                 PROMISSORY NOTE
                                  (this "Note")

U.S. $17,000,000.00                                      June 25, 1998 ("Date")

FOR VALUE RECEIVED, XETEL CORPORATION ("Borrower"), a Delaware corporation,
promises to pay to the order of CHASE BANK OF TEXAS, NATIONAL ASSOCIATION
("Bank," formerly Texas Commerce Bank National Association) on or before August
31, 1999, (the "TERMINATION DATE"), at its banking house at 700 Lavaca, Austin,
Travis County, Texas, or at such other location as Bank may designate, in lawful
money of the United States of America, the lesser of: (i) the principal sum of
SEVENTEEN MILLION AND NO/100THS UNITED STATES DOLLARS (U.S. $17,000,000.00) (the
"Maximum Loan Total"); or (ii) the aggregate unpaid principal amount of all
loans made by Bank (each such loan being a "LOAN"), which may be outstanding on
the Termination Date. Each Loan shall be due and payable on the maturity date
agreed to by Bank and Borrower with respect to such Loan (the "MATURITY DATE").
In no event shall any maturity date fall on a date after the Termination Date to
the terms and conditions of this Note and the Loan Documents, Borrower may
borrow, repay and reborrow all or any part of the credit provided for herein at
any time before the Termination Date, there being no limitation on the number of
Loans made so long as the total unpaid principal amount at any time outstanding
does not exceed the Maximum Loan Total. 

     This Note is the Revolving Credit Note described in Section 1.1.A of the
Amendment and Restatement of Credit Agreement between Borrower and Bank dated as
of June 25, 1998 (as amended, restated and supplemented from time to time, the
"Credit Agreement") and sometimes referred to therein as a Note. Capitalized
terms used in this Note and not otherwise defined have the meanings used in the
Credit Agreement. This Note renews and increases Borrower's $10,000,000.00
revolving promissory note dated April 15, 1997.

     "BASE RATE" shall mean for any day, a rate per annum (rounded upwards, if
     necessary, to the next higher 1/16 of 1%) equal to the greatest of: (a) the
     Prime Rate in effect on such day; and (b) the Federal Funds Effective Rate
     in effect on such day plus 1/4 of 1%. For purposes hereof, "PRIME RATE"
     means the rate determined from time to time by Bank as its prime rate. The
     Prime Rate shall change automatically from time to time without notice to
     Borrower or any other person. THE PRIME RATE IS A REFERENCE RATE AND MAY
     NOT BE BANK'S LOWEST RATE.

     "FEDERAL FUNDS EFFECTIVE RATE" shall mean, for any day, the weighted
     average of the rates on overnight Federal funds transactions with members
     of the Federal Reserve System arranged by Federal funds brokers, as
     published on the next succeeding Business Day by the Federal Reserve Bank
     of New York, or, if such rate is not so published for any day which is a
     Business Day, the average of the quotations for the day of such
     transactions received by the Bank from three Federal funds brokers of
     recognized standing selected by Bank. If for any reason the Bank shall have
     determined (which determination shall be conclusive absent manifest error)
     that it is unable to ascertain the the Federal Funds Effective Rate, or
     both, for any reason, including the inability or failure of the Bank to
     obtain sufficient quotations in accordance with the terms thereof, the Base
     Rate shall be determined without regard to clause (b) of the first sentence
     of this definition, until the circumstances giving rise to such inability
     no longer exist. Any change in the Base Rate due to a change in the Prime
     Rate or the Federal Funds Effective Rate shall be effective on the
     effective date of such change in the Prime Rate, or the Federal Funds
     Effective Rate, respectively.
     
     "BASE RATE LOAN" means a Loan which bears interest at a rate determined by
     reference to the Base Rate. 
     
     "BOARD" means the Board of Governors of the Federal Reserve System of the 
     United States.

     "BORROWING DATE" means any Business Day on which Bank shall make or
     continue a Loan hereunder. 

     "BUSINESS DAY" means a day: (i) on which Bank and commercial banks in New 
     York City are generally open for business; and (ii) with respect to LIBOR 
     Loans, on which dealings in United States Dollar deposits are carried out 
     in the interbank markets. 

     "HIGHEST LAWFUL RATE" means the maximum nonusurious rate of interest from
     time to time permitted by applicable law. If Texas law determines the
     Highest Lawful Rate, Bank has elected the "indicated" (weekly) ceiling as
     defined in the Texas Credit Code or any successor statute. Bank may from
     time to time, as to current and future balances, elect and implement any
     other ceiling under such Code and/or revise the index, formula or
     provisions of law used to compute the rate on this open-end account by
     notice to Borrower, if and to the extent permitted by, and in the manner
     provided in such Code.

     "INTEREST PERIOD" means for each Loan the period commencing on the
     Borrowing Date and ending on the Maturity Date, consistent with the
     following provisions. The duration of each Interest Period shall be: (a) in
     the case of a Base Rate Loan, a period of up to the Termination Date unless
     any portion thereof is converted to a LIBOR Loan hereunder; and (b) in the
     case of a LIBOR Loan, a period of up to one, two, three, four or six
     months; in each case as selected by Borrower and agreed to by Bank.
     Borrower's choice of Interest Period is subject to the following
     limitations: (i) No Interest Period shall end on a date after the
     Termination Date; and (ii) If the last day of an Interest Period would be a
     day other than a Business Day, the Interest Period shall end on the next
     succeeding Business Day (unless the Interest Period relates to a LIBOR Loan
     and the next succeeding Business Day is in a different calendar month than
     the day on which the Interest Period would otherwise end, in which case the
     Interest Period shall end on the next preceding Business Day).

     "LIBOR LOAN" means a Loan which bears interest at a rate determined by
     reference to the LIBOR Rate.

     "LIBOR RATE" means a per annum interest rate determined by Bank by
     dividing: (i) the average rate per annum (rounded upwards, if necessary, to
     the next 1/16 of 1%) of the rates per annum at which United States dollar
     deposits in an amount comparable to the principal amount of the LIBOR Loan
     to which such LIBOR Rate is applicable for a term equal to or substantially
     equal to the Interest Period are offered by Bank to prominent banks in the
     London interbank market at approximately 11:00 a.m., London time, two
     Business Days prior to the commencement of the applicable Interest Period;
     by (ii) Statutory Reserves.

     "LOAN DOCUMENTS" means this Note and any document or instrument evidencing,
     securing, guaranteeing or given in connection with this Note including, but
     not limited to that certain Credit Agreement of even date herewith executed
     by and between Borrower and Bank (the "Credit Agreement").

     "OBLIGATIONS" means all principal, interest and other amounts which are or
     become owing under this Note or any other Loan Document.

     "OBLIGOR" means Borrower and any guarantor, surety, co-signer, general
     partner or other person who may now or hereafter be obligated to pay all or
     any part of the Obligations. 

     "STATUTORY RESERVES" means the difference (expressed as a decimal) of the
     number one minus the aggregate of the maximum reserve percentages
     (including, without limitation, any marginal, special, emergency, or
     supplemental reserves) expressed as a decimal established by the Board and
     any other banking authority to which Bank is subject to,

                               Page 1 of 4 Pages
<PAGE>   2
     with respect to the LIBOR Rate, for Eurocurrency Liabilities (as defined in
     Regulation D of the Board). Such reserve percentages shall include, without
     limitation, those imposed under such Regulation D. LIBOR Loans shall be
     deemed to constitute Eurocurrency Liabilities and as such shall be deemed
     to be subject to such reserve requirements without benefit of or credit for
     proration, exceptions or offsets which may be available from time to time
     to any bank under such Regulation D. Statutory Reserves shall be adjusted
     automatically on and as of the effective date of any change in any reserve
     percentage.

     Loans may be either Base Rate Loans or LIBOR Loans. Borrower shall pay
interest on the unpaid principal amount of each Base Rate Loan at a rate per
annum equal to the lesser of: (i) the Base Rate in effect from time to time (the
"EFFECTIVE BASE RATE"); or (ii) the Highest Lawful Rate. Accrued interest on
each Base Rate Loan is due and payable on the last day of each month and at the
Maturity Date. Borrower shall pay interest on the unpaid principal amount of
each LIBOR Loan for the Interest Period with respect thereto at a rate per annum
equal to the lesser of: (i) the LIBOR Rate plus the LIBOR Spread (as defined
hereinafter) (the "EFFECTIVE LIBOR RATE"); or (ii) the Highest Lawful Rate.
Accrued interest on each LIBOR Loan is due on the last day of the Interest
Period applicable thereto, and in the case of an Interest Period in excess of
three months, on each day which occurs every three months after the initial date
of such Interest Period, and on any prepayment (on the amount prepaid).

     DETERMINATION OF LIBOR SPREAD. The amount of the LIBOR Spread shall be (a)
1.25% per annum, for each LIBOR Loan commencing (whether by request, conversion
of a Base Rate Loan, or by continuation of a LIBOR Loan at the end of a prior
Interest Period) during the fiscal quarter of Borrower following the end of a
fiscal quarter for which Borrower has timely and correctly reported to Bank,
under the Credit Agreement, a Cash Flow Coverage Ratio greater than or equal to
3.51 : 1.00; (b) 1.50% per annum, for each LIBOR Loan commencing (whether by
request, conversion of a Base Rate Loan, or by continuation of a LIBOR Loan at
the end of a prior Interest Period) during the fiscal quarter of Borrower
following the end of a fiscal quarter for which Borrower has timely and
correctly reported to Bank, under the Credit Agreement, a Cash Flow Coverage
Ratio greater than or equal to 2.76 : 1.00 and less than or equal to 3.50 :1.00;
and (c) 1.75% per annum at all other times. The LIBOR Spread so determined shall
apply for the entire Interest Period for each LIBOR Loan, regardless of whether
Borrower's Cash Flow Coverage Ratio subsequently changes prior to the end of the
Interest Period for such LIBOR Loan. Accrued interest on each LIBOR Loan is due
on the last day of each Interest Period applicable thereto, and in the case of
an Interest Period in excess of one month, on each day which occurs every thirty
days after the initial date of such Interest Period, and on any prepayment (on
the amount prepaid).

     If at any time the effective rate of interest which would otherwise be
payable on any Loan evidenced by this Note exceeds the Highest Lawful Rate, the
rate of interest to accrue on the unpaid principal balance of such Loan during
all such times shall be limited to the Highest Lawful Rate, but any subsequent
reductions in such interest rate shall not become effective to reduce such
interest rate below the Highest Lawful Rate until the total amount of interest
accrued on the unpaid principal balance of such Loan equals the total amount of
interest which would have accrued if the Effective Base Rate, or Effective LIBOR
Rate, whichever is applicable, had at all times been in effect.

     Each LIBOR Loan shall be in an amount not less than $200,000.00 and an
integral multiple of $100,000.00. Interest shall be computed on the basis of the
actual number of days elapsed and a year comprised of 360 days, unless such
calculation would result in a usurious interest rate, in which case such
interest shall be calculated on the basis of a 365 or 366 day year, as the case
may be.

     The unpaid principal balance of this Note at any time will be the total
amounts advanced by Bank, less the amount of all payments or prepayments of
principal. Absent manifest error, the records of Bank will be conclusive as to
amounts owed. Loans shall be made on Borrower's irrevocable notice to Bank,
given not later than 10:00 A.M. (Houston time) on, in the case of LIBOR Loans,
the third Business Day prior to the proposed Borrowing Date or, in the case of
Base Rate Loans, the first Business Day prior to the proposed Borrowing Date.
Each notice of a requested borrowing (a "NOTICE OF REQUESTED BORROWING") under
this paragraph may be oral or written, and shall specify: (i) the requested
amount; (ii) proposed Borrowing Date; (iii) whether the requested Loan is to be
a Base Rate Loan or LIBOR Loan; and (iv) Interest Period for the LIBOR Loan. If
any Notice of Requested Borrowing shall be oral, Borrower shall deliver to Bank
prior to the Borrowing Date a confirmatory written Notice of Requested
Borrowing.

     Borrower may on any Business Day prepay the outstanding principal amount of
any Base Rate Loan, in whole or in part. Borrower shall have no right to prepay
any LIBOR Loan.

     Provided that no Event of Default has occurred and is continuing, Borrower
may elect to continue all or any part of any LIBOR Loan beyond the expiration of
the then current Interest Period relating thereto by providing Bank at least
three Business Day's written or telecopy notice of such election, specifying the
Loan or portion thereof to be continued and the Interest Period therefor and
whether it is to be a Base Rate Loan or LIBOR Loan provided that any
continuation as a LIBOR Loan shall not be less than $200,000.00 and shall be in
an integral multiple of $100,000.00. If an Event of Default shall have occurred
and be continuing, the Borrower shall not have the option to elect to continue
any such LIBOR Loan or to convert Base Rate Loans into LIBOR Loans. Provided
that no Event of Default has occurred and is continuing, Borrower may elect to
convert any Base Rate Loan at any time or from time to time to a LIBOR Loan by
providing Bank at least three Business Day's written or telecopy notice of such
election, specifying each Interest Period therefor. Any conversion of Base Rate
Loans shall not result in a borrowing of LIBOR Loans in an amount less than
$200,000.00 and in integral multiples of $100,000.00.

     If at any time Bank determines in good faith (which determination shall be
conclusive) that any change in any applicable law, rule or regulation or in the
interpretation, application or administration thereof makes it unlawful, or any
central bank or other governmental authority asserts that it is unlawful, for
Bank or its foreign branch or branches to maintain any LIBOR Loan by means of
dollar deposits obtained in the London interbank market (any of the above being
described as a "LIBOR Event"), then, at the option of Bank, the aggregate
principal amount of all LIBOR Loans outstanding shall be prepaid; however the
prepayment may be made at the sole option of the Bank with a Base Rate Loan.
Upon the occurrence of any LIBOR Event, and at any time thereafter so long as
such LIBOR Event shall continue, the Bank may exercise its aforesaid option by
giving written notice thereof to Borrower.
     

     If Bank determines after the date of this Note that any change in
applicable laws, rules or regulations regarding capital adequacy, or any change
in the interpretation or administration thereof by any appropriate governmental
agency, or compliance with any request or directive to Bank regarding capital
adequacy (whether or not having the force of law) of any such agency, increases
the capital required to be maintained with respect to any LIBOR Loan and
therefore reduces the rate of return on Bank's capital below the level Bank
could have achieved but for such change or compliance (taking into consideration
Bank's policies with respect to capital adequacy), then Borrower will pay to
Bank from time to time, within 15 days of Bank's request, any additional amount
required to compensate Bank for such reduction. Bank will request any additional
amount by delivering to Borrower a certificate of Bank setting forth the amount
necessary to compensate Bank. The certificate will be conclusive and binding,
absent manifest error. Bank may make any assumptions, and may use any
allocations of costs and expenses and any averaging and attribution methods,
which Bank in good faith finds reasonable.

                               Page 2 of 4 Pages
<PAGE>   3

     If any domestic or foreign law, treaty, rule or regulation (whether now in
effect or hereinafter enacted or promulgated, including Regulation D of the
Board) or any interpretation or administration thereof by any governmental
authority charged with the interpretation or administration thereof (whether or
not having the force of law): (a) changes, imposes, modifies, applies or deems
applicable any reserve, special deposit or similar requirements in respect of
any Loan or against assets of, deposits with or for the account of, or credit
extended or committed by, Bank; or (b) imposes on Bank or the interbank
eurocurrency deposit and transfer market or the market for domestic bank
certificates or deposit any other condition affecting any such Loan; and the
result of any of the foregoing is to impose a cost to Bank of agreeing to make,
funding or maintaining any such Loan or to reduce the amount of any sum
receivable by Bank in respect of any such Loan, then Bank may notify Borrower in
writing of the happening of such event and Borrower shall upon demand pay to
Bank such additional amounts as will compensate Bank for such costs as
determined by Bank. Without prejudice to the survival of any other agreement of
Borrower under this Note, the obligations of Borrower under this paragraph shall
survive the termination of this Note.

     Borrower will indemnify Bank against, and reimburse Bank on demand for, any
loss, cost or expense incurred or sustained by Bank (including without
limitation any loss, cost or expense incurred by reason of the liquidation or
reemployment of deposits or other funds acquired by Bank to fund or maintain
LIBOR Loans) as a result of: (a) any payment or prepayment (whether permitted by
Bank or required hereunder or otherwise) of all or a portion of any LIBOR Loan
on a day other than the Maturity Date of such Loan; (b) any payment or
prepayment, whether required hereunder or otherwise, of any LIBOR Loan made
after the delivery of a Notice of Requested Borrowing but before the applicable
Borrowing Date if such payment or prepayment prevents the proposed Loan from
becoming fully effective; or (c) the failure of any LIBOR Loan to be made by
Bank due to any action or inaction of Borrower. Such funding losses and other
costs and expenses shall be calculated and billed by Bank and such bill shall,
as to the costs incurred, be conclusive absent manifest error.

     All past-due principal and interest on this Note, will, at Bank's option,
bear interest at the lesser of the Highest Lawful Rate and a rate per annum
equal to the Base Rate plus three percent (3%).

     In addition to all principal and accrued interest on this Note, Borrower
agrees to pay: (a) all reasonable costs and expenses incurred by Bank and all
owners and holders of this Note in collecting this Note through probate,
reorganization, bankruptcy or any other proceeding; and (b) reasonable
attorney's fees if and when this Note is placed in the hands of an attorney for
collection.

     Borrower and Bank intend to conform strictly to applicable usury laws.
Therefore, the total amount of interest (as defined under applicable law)
contracted for, charged or collected under this Note will never exceed the
Highest Lawful Rate. If Bank contracts for, charges or receives any excess
interest, it will be deemed a mistake. Bank will automatically reform the
contract or charge to conform to applicable law, and if excess interest has been
received, Bank will either refund the excess to Borrower or credit the excess on
the unpaid principal amount of this Note. All amounts constituting interest will
be spread throughout the full term of this Note in determining whether interest
exceeds lawful amounts.

     If any Event of Default (as defined in the Credit Agreement) shall occur,
then Bank may do any or all of the following: (i) cease making Loans hereunder;
(ii) declare the Obligations to be immediately due and payable, without notice
of acceleration or of intention to accelerate, presentment and demand or protest
or notice of any kind, all of which are hereby expressly waived; (iii) set off,
in any order, against the Obligations any debt owing by Bank to any Obligor,
including, but not limited to, any deposit account, which right is hereby
granted by each Obligor to Bank; and (iv) exercise any and all other rights
under the Loan Documents, at law, in equity or otherwise.
     

     No waiver of any default is a waiver of any other default. Bank's delay in
exercising any right or power under any Loan Document is not a waiver of such
right or power.

     Each Obligor severally waives notice, demand, presentment for payment,
notice of nonpayment, notice of intent to accelerate, notice of acceleration,
protest, notice of protest, and the filing of suit and diligence in collecting
this Note and all other demands and notices, and consents and agrees that its
liabilities and obligations will not be released or discharged by any or all of
the following, whether with or without notice to it or any other Obligor, and
whether before or after the stated maturity hereof: (i) extensions of the time
of payment; (ii) renewals; (iii) acceptances of partial payments; (iv) releases
or substitutions of any collateral or any Obligor; and (v) failure, if any, to
perfect or maintain perfection of any security interest in any collateral. Each
Obligor agrees that acceptance of any partial payment will not constitute a
waiver and that waiver of any default will not constitute waiver of any prior or
subsequent default.

     Where appropriate the neuter gender includes the feminine and the masculine
and the singular number includes the plural number.

     Borrower represents and agrees that: all Loans evidenced by this Note are
and will be for business, commercial, investment or other similar purpose and
not primarily for personal, family, or household use as such terms are used in
Chapter One of the Texas Credit Code. Borrower represents and agrees that each
of the following statements is true: (i) No advances will be used primarily for
agricultural purposes as such term is used in the Texas Credit Code. (ii) No
advances will be used for the purpose of purchasing or carrying any margin stock
as that term is defined in Regulation U of the Board.

     Chapter 346 of the Texas Finance Code (which regulates certain revolving
credit loan accounts) shall not apply to this Note or any Loan governed by this
Note.

     This Note is governed by Texas law. If any provision of this Note is
illegal or unenforceable, that illegality or unenforceability will not affect
the remaining provisions of this Note. BORROWER AND BANK AGREE THAT TRAVIS
COUNTY, TEXAS IS PROPER VENUE FOR ANY ACTION OR PROCEEDING BROUGHT BY BORROWER
OR BANK, WHETHER IN CONTRACT, TORT, OR OTHERWISE. ANY ACTION OR PROCEEDING
AGAINST BORROWER MAY BE BROUGHT IN ANY STATE OR FEDERAL COURT IN SUCH COUNTY TO
THE EXTENT NOT PROHIBITED BY APPLICABLE LAW. TO THE EXTENT PERMITTED BY
APPLICABLE LAW BORROWER HEREBY IRREVOCABLY (A) SUBMITS TO THE NONEXCLUSIVE
JURISDICTION OF SUCH COURTS, AND (B) WAIVES ANY OBJECTION IT MAY NOW OR
HEREAFTER HAVE AS TO THE VENUE OF ANY SUCH ACTION OR PROCEEDING BROUGHT IN ANY
SUCH COURT OR THAT ANY SUCH COURT IS AN INCONVENIENT FORUM. BORROWER AGREES THAT
SERVICE OF PROCESS UPON IT MAY BE MADE BY CERTIFIED OR REGISTERED MAIL, RETURN
RECEIPT REQUESTED, AT ITS ADDRESS SPECIFIED BELOW. BANK MAY SERVE PROCESS IN ANY
OTHER MANNER PERMITTED BY LAW AND MAY BRING ANY ACTION OR PROCEEDING AGAINST
BORROWER OR WITH RESPECT TO ANY OF ITS PROPERTY IN COURTS IN OTHER PROPER
JURISDICTIONS OR VENUES.

     For purposes of this Note, any assignee or subsequent holder of this Note
will be considered the "Bank," and each successor to Borrower will be considered
the "Borrower."

     Borrower represents that it is duly organized and validly existing and in
good standing under the laws of the state of its incorporation or organization;
has full power to own its properties and to carry on its business as now
conducted; is duly qualified to do business and is in good standing in each
jurisdiction in which the nature of the business conducted by it makes such
qualification desirable; and has not commenced any dissolution proceedings.
Borrower represents that if it conducts

                               Page 3 of 4 Pages
<PAGE>   4
business under an assumed business or professional name it has properly filed
Assumed Name Certificate(s) in the office(s) required by Chapter 36 of the Texas
Business and Commerce Code. Each of the persons signing below as Borrower
represents that he/she has full requisite power and authority to execute and
deliver this Note to Bank on behalf of the party for whom he/she signs and to
bind such party to the terms and conditions of this Note and that this Note is
enforceable against such party.

     NO COURSE OF DEALING BETWEEN BORROWER AND BANK, NO COURSE OF PERFORMANCE,
NO TRADE PRACTICES, AND NO EXTRINSIC EVIDENCE OF ANY NATURE MAY BE USED TO
CONTRADICT OR MODIFY ANY TERM OF THIS NOTE OR ANY OTHER LOAN DOCUMENT.

     THIS NOTE AND THE OTHER WRITTEN LOAN DOCUMENTS REPRESENT THE FINAL
AGREEMENT BETWEEN THE PARTIES AND MAY NOT BE CONTRADICTED BY EVIDENCE OF PRIOR,
CONTEMPORANEOUS, OR SUBSEQUENT ORAL AGREEMENTS OF THE PARTIES. THERE ARE NO
UNWRITTEN ORAL AGREEMENTS BETWEEN THE PARTIES.

     IN WITNESS WHEREOF, Borrower has executed this Note effective the day,
month and year first aforesaid.

                      BORROWER:     XETEL CORPORATION


                                    By:
                                       -----------------------------------------

                                    Name:
                                         ---------------------------------------

                                    Title:
                                          --------------------------------------

(Bank's signature is provided as its acknowledgment of the above as the final
written agreement between the parties.)
CHASE BANK OF TEXAS, NATIONAL ASSOCIATION

By:
      ---------------------------------
Name:
      ---------------------------------
Title:
      ---------------------------------
                               Page 4 of 4 Pages