Unassociated Document


    Exhibit 10.4

    
 

    MASTER
REVOLVING CREDIT NOTE

    


    


    Date   September
15, 2008

    


    Maker: SEV, Inc.

    


    Payee:  David W. Mooney,
Jr.

    


    Place for Payment:  5
Blind Brook Lane, Rye, NY 10580

    


    Principal Amount:  Ten
Thousand and 00/100 Dollars  ( $10,000.00)

    


    Annual Interest Rate on Unpaid
Principal from Date:  Zero percent (0%)

    


    Annual Interest Rate on Matured,
Unpaid Amounts:  Zero percent (0%)

    


    Terms
of Payment (principal and interest):

    


    Interest, if any,  on any
unpaid principal shall be due on the fifteenth (15th) of
each month.   All unpaid principal and interest is due and
payable on  December 31, 2010.

    


    The unpaid principal balance, including
any unpaid and accrued interest, shall at no time exceed the sum
of  Ten Thousand and no/100 dollars ($10,000.00).  The
unpaid principal balance of this note at any time shall be the total amounts
loaned or advanced hereunder by Payee, less the amount of payments or
prepayments of principal made hereon by or for the account of
Maker.  It is contemplated that by reason of prepayments hereon, there
may be times when no indebtedness is due hereunder; but notwithstanding such
occurrences, this note shall remain valid and shall be in full force and effect
as to loans or advances made pursuant to and under the terms of this note
subsequent to each such occurrence.

    


    Advances hereunder shall be made by
Payee upon the oral or written request of the undersigned officer of Maker or
any other officer of Maker authorized to make such a request.

    


    Maker  promises to pay to the
order of Payee at the place for payment and according to the terms of payment
the principal amount plus interest at the rates stated above.  All
unpaid amounts shall be due  December 31, 2010.

     

    On
default in the payment of this note or in the performance of any obligation in
any instrument securing or collateral to it this note and all obligations in all
instruments securing or collateral to it shall become immediately due at the
election of Payee.  Maker and each surety, endorser, and guarantor
waive all demands for payment, presentations for payment, notices of intention
to accelerate maturity, protests, and notices of protest.

    


    
      
        
        

      

      
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     If
this note or any instrument securing or collateral to it is given to an attorney
for collection, or if suit is brought for collection, or if it is collected
through probate, bankruptcy, or other judicial proceeding, then Maker shall pay
Payee all costs of collection, including reasonable attorney's fees and court
costs, in addition to other amounts due.

     

    Interest
on the debt evidenced by this note shall not exceed the maximum amount of
nonusurious interest that may be contracted for, taken, reserved, charged, or
received under law; any interest in excess of that maximum amount shall be
credited on the principal of the debt or, if that has been paid,
refunded.  On any acceleration or required or permitted prepayment,
any such excess shall be canceled automatically as of the acceleration or
prepayment or, if already paid, credited on the principal of the debt or, if the
principal of the debt has been paid, refunded.  This provision
overrides other provisions in this and all other instruments concerning the
debt.

     

    The terms
Maker and Payee and other nouns and pronouns include the plural if more than
one.  The terms Maker and Payee also include their respective
successors, representatives, and assigns.

    


    
      	 
      	
              Maker

            
	 
      	
              SEV,
      Inc.

            
	 
      	 
      
	 
      	 
      
	 
      	
              By:
      /s/ Carey
      Birmingham

            
	 
      	
              Carey
      G. Birmingham

            
	 
      	
              Vice
      President & CFO

            


    

    


    


    


    
      
        
        

      

      
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