**Exhibit 10.30**

 

**THIS NOTE HAS NOT BEEN REGISTERED PURSUANT TO THE SECURITIES ACT OF 1933, AS AMENDED, OR APPLICABLE STATE SECURITIES LAWS AND MAY NOT BEASSIGNED, SOLD, PLEDGED OR OTHERWISE TRANSFERRED UNLESS THE TRANSACTION RELATING THERETO COMPLIES WITH OR IS EXEMPT FROM THE REGISTRATION REQUIREMENTS OF THE ACT AND SUCH LAWS AND THE COMPANY IS PROVIDED AN OPINION OF COUNSEL TO THAT EFFECT WHICH ISSATISFACTORY TO IT.**

 

US$348,825.46 

 

**PROMISSORY NOTE**

 

**FOR VALUE RECEIVED**, the undersigned, **BUYERS UNITED, INC.**, aDelaware corporation, referred to hereinafter as the “Maker,” promises to pay to the order of Bomoseen Associates, LP, referred to herein as the “Holder,” at its address at 1943 Wightman Street, Pittsburg, PA 15217, the principalamount of THREE HUNDRED THOUSAND EIGHT HUNDRED TWENTY FIVE AND 46/100’s Dollars (US$348,825.46) in such lawful money of the United States of America as at the time of payment shall be legal tender for the payment of public and private debt, andto pay in like lawful tender interest on the unpaid principal at a rate per annum (calculated on the basis of the actual number of days elapsed in a 365-day year) equal to 12% from and after the date hereof. 

 

1.**Payments**. Interest payments shall be paid monthly. The principalamount and accrued interest, if any, on this Note shall be due and payable on demand any time prior to the maturity date of July 5, 2005, however demand shall not be made earlier than December 5, 2003. 

 

2.**Default**. On the occurrence of any one or more of the eventshereinafter enumerated, the entire unpaid balance of the principal and interest accrued thereon and yet unpaid shall become immediately due and payable, without presentment, demand, protest, notice of protest, or other notice of dishonor, all ofwhich are hereby waived by Maker. Such events of default being as follows: 

 

(a) Default in the payment within 10 days following presentation by Holder; 

 

(b) The Maker shall (i) file a voluntary petition in bankruptcy or a voluntary petition seeking reorganization; (ii) file an answeradmitting the jurisdiction of the court and any material allegations of an involuntary petition filed pursuant to any act of Congress relating to bankruptcy or to any act purporting to be amendatory thereof; (iii) make an assignment for the benefitof creditors; (iv) apply for or consent to the appointment of any receiver or trustee for the Maker; or (v) make an assignment to an agent authorized to liquidate any substantial part of the Maker’s business; or 

(c) An order shall be entered pursuant to any act of Congress relating to bankruptcy orany act purporting to be amendatory thereof approving an involuntary petition seeking reorganization of Maker or an order of any court shall be entered appointing any receiver or trustee of or for Maker or of or for all or any substantial portion ofits property, and such order approving a petition seeking reorganization or appointing a receiver or trustee is not vacated or stayed or any writ, warrant of attachment, or similar process is not released or bonded within sixty (60) days after itslevy or entry. 

 

3.**Waivers and Assent to Extension,Indulgence, or Release**. Every Maker, endorser, and guarantor of this Promissory Note or the obligation represented hereby waives presentment, demand, notice, protest, notice of protest, or enforcement of this Promissory Note and assents to anyextensions or postponements of the time of payment or any other indulgence and to the addition or release of any other party or person primarily or secondarily liable. None of the rights and remedies of the Holder hereunder are to be waived oraffected by failure or delay in exercising them. All remedies conferred on the Holder of this Promissory Note shall be cumulative, and none is exclusive. Such remedies may be exercised concurrently or consecutively, at the Holder’s option.

 

4.**Attorney’s Fees**. If this Promissory Note isplaced with an attorney for collection, suit be instituted for collection, or any other remedy permitted by law is pursued by the Holder hereof because of any event of default in the terms and conditions herein, then in such event, the Maker agreesto pay reasonable attorney’s fees, costs, and other expenses incurred by the Holder hereof in so doing and in enforcing or collecting any judgment rendered therein. 

 

5.**Construction and Governing Law**. This Promissory Note is entered into and shall be governed and construed inaccordance with the laws of the state of Utah. The state and federal courts of the state of Utah shall have exclusive jurisdiction in any litigation arising under or pertaining to this Promissory Note, and by the execution and acceptance hereof theMaker and Holder irrevocably submit to the personal and subject matter jurisdiction of such Utah courts. 

 

Dated this 5th day ofJuly 2003. 

 
**Buyers United, Inc.**
By
 
/s/ Kenneth Krogue
  
Kenneth Krogue, Chief Operating Officer

 

2