No. 07                                                               $30,000.00


                            Navis Technologies, Ltd.
                                 One Lawson Lane
                              Burlington, VT 05401
                                   May 3, 1999

                     1-Year 12 Percent Convertible Debenture
                                 Due May 3, 2000


        Navis Technologies,  Ltd., a Delaware corporation,  (the "Corporation"),
for value  received,  promises to pay to Lance  Murdock or  assigns,  the sum of
$30,000.000  on May 3, 2000 (the "due date"),  together  with  interest  accrued
thereon at the rate of 12  percent  per  annum,  computed  from May 3. 1999 (the
"issue  date").  Payment of principal and interest shall be made in lawful money
of the  United  States  of  America  and  shall be mailed to the owner or owners
hereof at the address appearing below, unless the conversion option is exercised
as set forth below in Paragraph 2.

        This Debenture is one of a duly  authorized  issue of the  Corporation's
debentures  issued in varying  denominations,  all of like  tenor and  maturity,
except variations necessary to express the number, principal amount and payee of
each debenture.

        1. Equal rank.  All  debentures  of this issue rank  equally and ratably
without priority over one another.

        2. Conversion.  The holder or holders of this Debenture may prior to the
maturity  hereof (except that, if the  Corporation has called this Debenture for
redemption, the right to convert shall terminate at the close of business on the
second  business  day prior to the date fixed as the date for such  redemption),
convert the  principal  amount  hereof into common stock of  eNote.com,  Inc., a
Delaware  corporation  and  the  sole  shareholder  of  the  Corporation,   upon
registration  of such stock by eNote.com,  Inc. The  conversion  shall be at the
rate of three  dollars  ($3.00)  per  share of common  stock.  To  convert  this
Debenture, the holder or holders hereof must surrender the same at the office of
the  Corporation,  properly  completed and executed and with a written notice of
conversion.

        3.  Fractional  shares.  In lieu of issuing any fraction of a share upon
the conversion of this Debenture, the Corporation shall pay to the holder hereof
for any fraction of a share otherwise  issuable upon the conversion,  cash equal
to the same fraction of the then current per unit market price of the equity.

        4.  Redemption.  The  Corporation  may at any time prepay in whole or in
part, the principal amount, plus accrued interest to the date of prepayment,  of
all outstanding debentures of this issue.

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        5. Default.  If any of the following  events occur ("Event of Default"),
the entire unpaid  principal  amount of, and accrued or unpaid interest on, this
debenture shall  immediately be due and payable,  and the Corporation  shall pay
all costs of collection,  including,  but not limited to, reasonable  attorneys'
fees and  expenses  incurred  by the  owner(s) or its assigns on account of such
collection, whether or not suit is brought:

               a. The  Corporation  fails to pay the principal of this Debenture
at its maturity;

               b. The Corporation  commence any voluntary  proceeding  under any
bankruptcy,  reorganization,  arrangement,  insolvency,  readjustment  of  debt,
receivership,  dissolution,  or liquidation law or statute, or any jurisdiction,
whether now or  subsequently  in effect;  or the  Corporation  is  adjudicated a
bankrupt by a court of competent  jurisdiction;  or the Corporation petitions or
applies for,  acquiesces in, or consents to, the  appointment of any receiver or
trustee of the Corporation for all of its property or assets; or the Corporation
makes an assignment  for the benefit of all its  creditors;  or the  corporation
admits in writing its inability to pay its debts as they mature; or

               c. here is  commenced  against the  Corporation  any  proceedings
relating to the Corporation under any bankruptcy,  reorganization,  arrangement,
insolvency, readjustment of debt, receivership,  dissolution, or liquidation law
or statue, of any jurisdiction,  whether now or subsequently in effect,  and the
proceeding remains undismissed for a period of 60 days or the Corporation by any
act indicates its consent, approval of, or acquiescence in, the proceedings;  or
a  receiver  or  trustee  in  appointed  for  the  corporation  or  for  all  or
substantially all of its property or assets, and the receivership or trusteeship
remains  undischarged  for a  period  of 60 days;  or a  warrant  of  attachment
execution  or similar  process is issued  against  any  substantial  part of the
property or assets of the Corporation, and the warrant or similar process is not
dismissed or bonded within 60 days after the levy.

        6. Registered  owner. The Corporation  shall treat the person or persons
whose name or names appear on this  Debenture  as the  absolute  owner or owners
hereof for the purpose of receiving  payment of, or on account of, the principal
and interest due on this Debenture and for all other purposes,  unless and until
written  notice  satisfactory  to the  Corporation is provided by the registered
owner of assignment hereof.

        7.  Assignment.  The owner(s) hereof may assign its rights  hereunder to
any person or entity.  No assignment of rights or obligations shall be effective
until  delivery of written  notice of such  assignment  is made by the assigning
party to the other party hereto.

        8. Release of  shareholders,  officers and directors.  This Debenture is
the  obligation of the  Corporation  only,  and no recourse shall be had for the
payment of any principal or interest hereon against any shareholder,  officer or
director of the  Corporation,  either  directly or through the  Corporation,  by
virtue of any statute for the  enforcement of any  assessment or otherwise.  The
holder or holders of this Debenture,  by the acceptance  hereof,  and as part of
the  consideration  for  this  Debenture,  release  all  claims  and  waive  all
liabilities against the foregoing persons in connecting with this Debenture.

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<PAGE>

        IN WITNESS WHEREOF, the Corporation has assigned this Debenture this 3rd
day of May, 1999.

                                            Navis Technologies, Ltd.


                                            /s/ John R. Varsames
                                            ---------------------------
                                            John R. Varsames, President


REGISTERED OWNER:
Lance Murdock

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