<PAGE>

                                                                   EXHIBIT 10.20

                                  MORTGAGE NOTE

$3,600,000                                                     November 17, 2003

         FOR VALUE RECEIVED, SIGMATRON INTERNATIONAL, INC., a Delaware
corporation (hereinafter referred to as "Borrower"), promises to pay to the
order of LASALLE BANK NATIONAL ASSOCIATION, a national banking association, at
its office at 135 South LaSalle Street, Chicago, Illinois 60603 (hereinafter
sometimes referred to as the "Lender"), or such other place as the holder hereof
may designate in writing, in the manner provided hereinafter and in the Mortgage
securing this Note, the original principal sum of Three Million Six Hundred
Thousand and 00/100 Dollars ($3,600,000.00) on or before November 30, 2008, with
interest from the date of first disbursement hereunder on the balance of
principal remaining from time to time outstanding at the rate of 5.453 percent
per annum (the "Interest Rate") which principal sum and interest shall be
payable as follows:

         (1)      interest shall be due on the first date of disbursement for
the period of time commencing with said disbursement date through the end of the
month in which the disbursement date shall have occurred;

         (2)      monthly installments of interest payable on the outstanding
principal balance at the Interest Rate on the first day of each and every month
thereafter to and including November 1, 2008;

         (3)      monthly installments of principal in the amount of $15,000
beginning December 1, 2003 and on the first day of each and every month
thereafter to and including November 1, 2008;

         (4)      a final payment of all outstanding principal, interest, and
all other sums due and owing pursuant hereto and to the Mortgage and all other
documents executed and delivered to secure the principal amount hereof, on
November 30, 2008 ("Maturity Date").

         After the Maturity Date, whether by acceleration or otherwise, interest
shall accrue on the balance of principal remaining from time to time outstanding
at the rate per annum of three percent (3%) above the Interest Rate (the
"Default Rate").

         In addition to the payment of default interest as provided above, in
the event Borrower fails to make any payment due under this Note within 10 days
after the due date therefor and such failure shall continue for three (3) days
after written notice thereof to Borrower, Lender, at its sole election and in
its sole discretion, may collect from the Borrower a "Late Charge" of five cents
($0.05) for each one dollar ($1.00) of such delinquent payment to reimburse
Lender for the extra administrative cost and expense involved in handling the
late payment. Lender's acceptance of any Late Charge payment shall not
constitute a waiver of any of its rights or remedies or of any default which may
then or thereafter occur or exist hereunder.

         All payments on account of the indebtedness evidenced by this Note
shall be first applied to interest on the unpaid balance, then to principal,
then to escrow deficiencies, if any, and the remainder to late charges and costs
advanced by Lender. Interest shall be payable on the basis of

                                     - 1 -

<PAGE>

                                                                   EXHIBIT 10.20

a year consisting of 360 days and charged for the number of days actually
elapsed. The date of the first disbursement hereunder shall be the date upon
which the first proceeds evidenced by this Note are disbursed pursuant to the
direction of the Borrower hereof.

         The payment of this Note is secured by (i) a Mortgage and Security
Agreement (the "Mortgage") on commercial property located in Cook County,
Illinois commonly known as 2201 Landmeier Road, Elk Grove Village, Illinois (the
"Premises"), (ii) an Assignment of Leases and Rents, and (iii) an Environmental
Indemnity Agreement, each of even date herewith from the Borrower, to the Lender
(which documents, together with the Mortgage and all other documents relating to
this loan executed by Borrower, together with all amendments, modifications and
restatements of any of the foregoing, are collectively referred to as the "Loan
Documents"). All of the agreements, conditions, covenants, provisions and
stipulations contained in the Loan Documents, which are to be kept and performed
by Borrower thereunder are hereby made a part of this Note to the same extent
and with the same force and effect as if they were fully set forth herein, and
Borrower covenants and agrees to keep and perform them or cause them to be kept
and performed, strictly in accordance with their terms.

         As a condition of the distribution of the proceeds of this Note from
Lender to Borrower, Borrower covenants and agrees to remit $100,000 (the
"Escrowed Funds") to Lender on or before the date hereof to be held in escrow in
the name of Borrower with Lender pursuant to the terms of an Escrow Agreement in
form and substance reasonably acceptable to Lender. The Escrowed Funds shall be
held by Lender until such time as Borrower provides Lender with an executed "No
Further Remediation Letter" from the Illinois Environmental Protection Agency as
recommended by that certain Site Investigation/Remediation Objective Report
prepared by Environ International Corporation dated September 2003 indicating
that all remediation required to be completed on the Premises has been completed
to the satisfaction of such agency without further action.

         Borrower may, from time to time, prepay the principal balance of this
Note in whole or in part, provided that Borrower gives Lender not less than
thirty (30) days' prior written notice of its intention to do so, and on the
further condition that at the time of such prepayment of principal Borrower
shall pay in addition thereto, the "Make-Whole Amount", as hereinafter defined.
For purposes hereof, the "Make-Whole Amount" shall be the amount calculated as
follows: (i) there shall first be determined, as of the date fixed for
prepayment (the "Prepayment Date"), the amount, if any, by which (A) the
Interest Rate exceeds (B) the yield to maturity percentage for the United States
Treasury Strip Note dated on or about November 17, 2008 (the "Treasury Note") as
published in The Wall Street Journal on the fifth (5th) business day preceding
the Prepayment Date plus One Hundred Seventy Five (175) basis points (the
"Current Yield"). If (A) publication of The Wall Street Journal is discontinued,
or (B) publication of the Treasury Note in The Wall Street Journal is
discontinued, Lender, in its sole discretion, shall designate another daily
financial or governmental publication of national circulation to be used to
determine the Current Yield; (ii) the difference calculated pursuant to clause
(i) above shall be multiplied by the outstanding principal balance hereof as of
the Prepayment Date; (iii) the product calculated pursuant to clause (ii) above
shall be multiplied by the quotient, rounded to the nearest one-hundredth of one
percent, obtained by dividing (A) the number of days from and including the
Prepayment Date to and including the Maturity Date, by (B) 365; and (iv) the sum
calculated pursuant to clause (iii) above shall be discounted at the annual rate
of the Current

                                     - 2 -

<PAGE>

                                                                   EXHIBIT 10.20

Yield to the present value thereof as of the Prepayment Date, on
the assumption that such sum would be received in equal monthly installments on
each monthly anniversary of the Prepayment Date prior to the Maturity Date, with
the final such installment to be deemed received on the Maturity Date; provided
that Borrower shall not be entitled in any event to a credit against, or a
reduction of, the principal amount due hereunder or any other amounts due
hereunder being prepaid if the Current Value exceeds the Interest Rate or for
any other reason. Notwithstanding the foregoing, the Make Whole Amount shall not
exceed $2,000 at any time.

         Borrower acknowledges that the loan evidenced by this Note was made on
the basis and assumption that Lender would receive the payments of principal and
interest set forth herein for the full term. Therefore, whenever the maturity
hereof has been accelerated by Lender by reason of the occurrence of an Event of
Default under this Note or any of the Loan Documents, including an acceleration
by reason of sale, conveyance, further encumbrance or other Event of Default
(which acceleration shall be at Lender's sole option) there shall be due, in
addition to the outstanding principal balance, accrued interest and other sums
due hereunder, a premium equal to the Make-Whole Amount that would be payable if
such principal balance had been voluntarily prepaid by Borrower hereunder.

         Borrower covenants and agrees with Lender as follows:

         (i)      Reporting Requirements. To maintain a system of accounting in
                  accordance with GAAP consistently applied with respect to all
                  dealings or transactions in relation to its business and
                  activities, and Borrower shall furnish to Lender:

                  (a)      as soon as available and in any event within thirty
                           (30) days after the end of each month, an internally
                           prepared consolidated and consolidating balance sheet
                           of Borrower as at the end of such month and the
                           related consolidated and consolidating statements of
                           net earnings and stockholders' equity and
                           consolidated and consolidating statements of cash
                           flows of Borrower for such month and for the portion
                           of the fiscal year ended at the end of such month,
                           setting forth in each case in comparative form the
                           figures for the corresponding portion of the previous
                           fiscal year, all in reasonable detail and certified
                           (subject to normal year-end adjustments) as to
                           fairness of presentation, in accordance with GAAP, by
                           the Chief Financial Officer;

                  (b)      as soon as available, copies of the periodic Form
                           10-Q quarterly report or comparable successor report
                           filed by Borrower with the Securities and Exchange
                           Commission or any successor agency;

                  (c)      as soon as available, copies of the Form 10-K Annual
                           Report or comparable successor report filed by
                           Borrower with the Securities and Exchange Commission
                           or any successor agency; provided, that if such
                           report is not made available within ninety (90) days
                           after the close of each fiscal year of Borrower,
                           Borrower shall immediately deliver to Lender a
                           balance sheet and the related consolidated and
                           consolidating statements of operations and
                           stockholders' equity and consolidated and
                           consolidating statements of cash flows of Borrower
                           and its Subsidiaries on a

                                     - 3 -

<PAGE>

                                                                   EXHIBIT 10.20

                           consolidated and consolidating basis as of the end of
                           such fiscal year, fairly and accurately presenting
                           the financial condition of Borrower and its
                           Subsidiaries on a consolidated basis as at such date
                           and the results of operations of Borrower and its
                           Subsidiaries for such fiscal year and setting forth
                           in each case in comparative form the corresponding
                           figures for the corresponding period of the preceding
                           fiscal year, all in reasonable detail, prepared in
                           accordance with GAAP consistently applied, and
                           audited by Grant Thornton, LLP or the successor
                           independent accounting firm responsible for auditing
                           Borrower's financial statements as reasonably
                           acceptable to Lender (the "Accountants"); and

                  (d)      concurrently with the delivery of the reports and/or
                           financial statements referred to in Sub-paragraphs
                           (a) and (c) above, a compliance certificate duly
                           completed and executed by either the President or the
                           Chief Financial Officer of Borrower (a) stating that
                           Borrower has observed and performed all of its
                           covenants and other agreements and satisfied every
                           condition, contained in this Note and all other Loan
                           Documents to which Borrower is a party to be
                           observed, performed or satisfied by it and that such
                           officer has no knowledge of any Event of Default
                           except as specified in such certificate, (b) stating
                           that, to the best of such officer's knowledge, all
                           such financial statements are complete and correct in
                           all respects and have been prepared in accordance
                           with GAAP consistently applied throughout the periods
                           reflected therein, subject to normal year-end
                           adjustments, and (c) showing calculations of
                           compliance with the financial covenants set forth
                           below.

         (ii)     Financial Covenants. To maintain the following financial
                  covenants:

                  (a)      Maintain an Interest Coverage Ratio, at all times, of
                           at least 5.0:1.0;

                  (b)      Maintain a Leverage Ratio, at all times, of not more
                           than 1.50:1.0;

                  (c)      Borrower will not permit the aggregate amount of
                           Capital Expenditures to exceed $3,800,000 in any
                           fiscal year (excluding any Capital Expenditures
                           associated with Borrower's plant located in China);
                           and

                  (d)      Maintain EBITDA of not less than $6,000,000 measured
                           quarterly on a rolling twelve month period.

         For purposes of the foregoing, the preceding terms shall be defined as
follows:

                  "Capital Expenditures" means the cost of acquiring any fixed
         assets, or any improvements, replacements, substitutions, accessions or
         additions thereto or therefor, which have a useful life of more than
         one (1) year, including without limitation, the cost of direct or
         indirect acquisitions of such assets by way of purchase, capital lease
         or otherwise.

                                     - 4 -

<PAGE>

                                                                   EXHIBIT 10.20

                  "EBITDA" means, with respect to any fiscal period of Borrower,
         Borrower's (a) net income for such period, plus (b) the aggregate
         amounts deducted in determining such net income in respect of (i)
         Interest Expense, (ii) federal and state income taxes, (iii)
         depreciation, (iv) amortization and (v) extraordinary losses minus (c)
         extraordinary gains, each determined on a consolidated basis and in
         accordance with GAAP consistently applied.

                  "GAAP" means United States generally accepted accounting
         principles, as in effect from time to time.

                  "GAAP Net Worth" means net worth determined in accordance with
         GAAP as set forth in the most recent financial statements of Borrower.

                  "General Intangibles" means all choses in action, causes of
         action and all other intangible property of Borrower of every kind and
         nature now owned or hereafter acquired by Borrower, including, without
         limitation, corporate and other business records, deposit accounts,
         inventions, designs, patents, patent and trademark registrations and
         applications, trademarks, trade names, trade secrets, goodwill,
         copyrights, registrations, licenses, franchises, deferred tax benefits,
         tax refund claims, prepaid expenses, computer programs, covenants not
         to compete, customer lists and mailing lists, contract rights,
         indemnification rights, causes of action and any letters of credit,
         guarantee claims, security interests or other security held by or
         granted to Borrower.

                  "Interest Expense" means, for any period, the sum of all
         interest in respect of funded debt of Borrower accrued or capitalized
         during such period (whether or not actually paid during such period),
         determined in accordance with GAAP.

                  "Interest Coverage Ratio" means, for any period the ratio of
         (i) EBITDA to (ii) Interest Expense, as determined in accordance with
         GAAP.

                  "Leverage Ratio" means, as of any date, the ratio of (i) total
         liabilities to (ii) Tangible Net Worth, as determined in accordance
         with GAAP.

                  "Subordinated Debt" means, as of any date, the amount of
         Funded Debt which is subordinated in right of payment to the loan on
         terms satisfactory to Bank in each particular case.

                  "Tangible Net Worth" means, at any time, GAAP Net Worth plus
         Subordinated Debt after subtracting therefrom the amount of any General
         Intangibles, amounts due from affiliates and the amount of other assets
         classified as intangible by Bank in the exercise of its sole
         discretion.

         It shall be an event of default ("Event of Default") if any one or more
of the following events, conditions or acts shall occur:

A.       The Borrower defaults in the timely payment of any amount due
         hereunder; or

                                     - 5 -

<PAGE>

                                                                   EXHIBIT 10.20

B.       The Borrower fails or neglects to comply with or to perform in
         accordance with any representation, warranty, covenant, condition or
         other provision contained hereunder (other than a payment default
         hereunder which is governed by paragraph A. above) and such default
         shall continue after 30 days' prior written notice to Borrower; or

C.       The Borrower fails or neglects to comply with or to perform in
         accordance with any representation, warranty, covenant, condition or
         other provision contained herein or in any of the other Loan Documents
         and such default is not cured within any applicable cure or grace
         period if any; or

D.       Any statement, application or agreement furnished at any time or from
         time to time to the Lender by the Borrower is false or incorrect in any
         material respect; or

E.       Any acceleration of any other indebtedness due and owing to Lender, its
         affiliates or any syndicate of banks of which Lender is a party shall
         occur.

         At any time after an Event of Default, the entire unpaid principal
balance of this Note, together with interest accrued thereon, shall, at the
election of the Lender, without notice of such election and without demand or
presentment, become immediately due and payable, anything contained herein or in
the Loan Documents to the contrary notwithstanding, and the principal balance so
accelerated and declared due as aforesaid shall thereafter bear interest at the
Default Rate and in which event the Maturity Date shall be deemed to be the date
of such acceleration.

         The remedies of the holder hereof as provided in this Note, the
Mortgage or any of the other Loan Documents shall be cumulative and concurrent,
and may be pursued singly, successively, or together against Borrower, any
property given as collateral for the indebtedness evidenced hereby, and/or any
other security at the sole discretion of the holder hereof.

         Borrower and any endorsers, sureties or guarantors hereof, jointly and
severally, waive presentment for payment, demand, notice of protest, and protest
of this Note and all other notices in connection with the delivery, acceptance,
performance, default, or enforcement of the payment of this Note, and they agree
that the liability of each of them shall be joint and several and shall be
unconditional without regard to the liability of any other party and shall not
in any manner be affected by any indulgence, extension of time, renewals, waiver
or modification granted or consented to by the holder hereof; and Borrower and
all endorsers, sureties and guarantors hereof consent to any and all extensions
of time, renewals, waivers, or modifications that may be granted by the holder
hereof with respect to the payment or other provisions of this Note, and to the
release of the collateral, or any part thereof, with or without substitution,
and agree that additional makers, endorsers, guarantors, or sureties may become
parties hereto without notice to them or affecting their liability hereunder.
Borrower hereby authorizes the Lender or any subsequent holder of this Note,
after any Event of Default hereunder or pursuant to the Mortgage or any of the
other Loan Documents, to apply any money or other property which the Lender or
the holder hereof may have or hold on deposit or otherwise for Borrower towards
the payment of this Note, whether the same is due or not, and by execution
hereof Borrower hereby specifically pledges and grants to the Lender a security
interest in any money or other property which the Lender may have or hold on
deposit for Borrower.

                                     - 6 -

<PAGE>

                                                                   EXHIBIT 10.20

         The Lender or any holder hereof shall not by any act of omission or
commission be deemed to waive any of its rights or remedies hereunder unless
such waiver be in writing and signed by the holder hereof, and then only to the
extent specifically set forth therein. A waiver with respect to any one event
shall not be construed as continuing or as a bar to or waiver of such right or
remedy on a subsequent event.

         Subject to the Mortgage, any sale, conveyance or transfer of any right,
title or interest in the Premises or any portion thereof, without the prior
written approval of the Lender or the holder of this Note, or any sale, transfer
or assignment of all or any part of the beneficial interest in any trust holding
title to the Premises without the prior written approval of the Lender or the
holder of this Note, or any financing which results in a lien upon the Premises
without the prior written approval of the Lender or the holder of this Note, or
the execution and delivery of any contract or other agreement to do any of the
aforesaid things, shall constitute an immediate default hereunder, and upon any
such default, the Lender or the holder hereof may declare the entire
indebtedness evidenced by this Note to be immediately due and payable and
foreclose the Mortgage and/or exercise any other remedies available to it under
the Mortgage or any of the other Loan Documents securing this Note immediately
or at any time during the continuance of the default. The acceptance of any
payment due hereunder after any such sale, transfer or assignment shall not be
deemed as the consent of the Lender to any such sale, transfer or assignment.

         The principal amount of this Note and all of Borrower's liabilities,
together with all accrued interest thereon and all costs and expenses, are
sometimes hereinafter collectively called the "Obligations." All rights, powers
and remedies of Lender expressed herein shall be in addition to, and not in
limitation of, those provided by law relating to any of the Obligations or any
security therefore including, without limitation, the Premises. In addition to
all other rights possessed by it, Lender may, except as specifically set forth
below, whether before or after an Event of Default, at its sole discretion, and
without notice to the Borrower grant any releases, compromises or indulgences
with respect to the Obligations, or any extension or renewal thereof, or any
security therefore, or to any obligor hereunder or thereunder.

         In order to cause timely payment to be made to bank of all Borrower's
Obligations as and when due, Borrower hereby authorizes and directs Lender, at
Lender's option, to debit the amount of such Obligations to any ordinary deposit
account of Borrower.

         The Borrower shall pay or reimburse Lender for all costs, fees, and
expenses incurred by Lender, or for which Lender becomes obligated, in
connection with the negotiation, preparation, and closing of this Note and the
other Loan Documents, together with all reasonable attorneys' fees and expenses
of Lender's counsel, search fees and taxes payable in connection with any of the
foregoing. In addition, the Borrower shall pay the Lender a closing fee of
$18,000 in consideration of the financial accommodations set forth herein, which
shall be fully earned and non-refundable upon payment.

         If at any time or times hereafter the Lender or the holder of this Note
employs counsel to intervene, file a petition, answer, motion or other pleading
in any suit or proceeding relating to this Note, or to attempt to collect this
Note from or to enforce this Note against the undersigned Borrower, then, in any
such events, all reasonable attorneys' fees arising from such services, and

                                     - 7 -

<PAGE>

                                                                   EXHIBIT 10.20

any expenses, costs and charges relating thereto, shall be an additional
liability owing hereunder by the Borrower to the Lender or the holder of this
Note payable on demand.

         The proceeds of the loan evidenced by this Note will be used solely for
the purposes specified in Section 205/4, Paragraph 1(c) of Chapter 815 of the
Illinois Compiled Statutes, as amended, and the principal amount hereof is for a
business loan which comes within the purview of such Section. Borrower agrees
that the obligation evidenced by this Note is an exempted transaction under the
Truth in Lending Act, 15 U.S.C., Section 1601, et seq.

         Whenever possible, each provision of this Note and each of the Loan
Documents shall be interpreted in such manner as to be effective and valid under
applicable law, but if any provision of this Note, the Mortgage or any of the
other Loan Documents shall be prohibited or invalid under such law, such
provision shall be ineffective only to the extent of such prohibition or
invalidity, without invalidating the remainder of the provisions of this Note,
the Mortgage or the other Loan Documents.

         This Note shall be governed and controlled as to validity, enforcement,
interpretation, construction, effect and in all other respects, by the statutes,
laws, and decisions of the State of Illinois. This Note is submitted to the
Lender at Chicago, Illinois and shall be deemed to have been made thereat.

         All notices or other communications hereunder to either party shall be
(a) in writing and, if mailed, shall be deemed to be given on the third Business
Day after the date when deposited in the United States Mail, by Registered or
Certified Mail, postage prepaid, or if personally delivered, shall be deemed
given upon delivery, addressed as provided hereinafter, or (b) sent by facsimile
(effective upon confirmation of transmissions), and (c) addressed:

If to Borrower:                          Sigmatron International, Inc.
                                         2201 Landmeier Road
                                         Elk Grove Village, Illinois 60007
                                         Attn:  Gary R. Fairhead
                                         Fax No. 847/956-8709

with a copy to:                          Henry J. Underwood, Jr., Esq.
                                         Defrees & Fiske
                                         200 South Michigan Avenue, Suite 1100
                                         Chicago, Illinois  60604
                                         Telecopier No.:  (312) 939-5617
                                         Telephone No.:  (312) 372-4000

If to Lender:                            LaSalle Bank National Association
                                         135 South LaSalle Street
                                         Chicago, Illinois  60603
                                         Attn:  Sara Huizinga
                                         Fax No. 312/904-0701

                                     - 8 -

<PAGE>

                                                                   EXHIBIT 10.20

with a copy to:                          Matthew T. O'Connor, Esq.
                                         Vedder, Price, Kaufman & Kammholz, P.C.
                                         222 N. LaSalle Street, Suite 2600
                                         Chicago, Illinois  60601
                                         Fax No. 312/609-5005

or to either party at such other addresses as such party may designate in a
written notice to the other party. "Business Day" shall mean any day, when
Lender is open for business other than Saturday, Sunday or any other day on
which national banks in Chicago, Illinois are not open for business.

         This Note may not be amended, modified or changed, except only by an
instrument in writing, signed by the party against whom enforcement of any
amendment, modification, change or discharge is sought.

         THE VALIDITY OF THIS NOTE, ITS CONSTRUCTION, INTERPRETATION, AND
ENFORCEMENT, AND THE RIGHTS OF BORROWER AND LENDER SHALL BE DETERMINED UNDER,
GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH THE INTERNAL LAWS OF THE STATE OF
ILLINOIS WITHOUT REGARD TO PRINCIPLES OF CONFLICTS OF LAW. TO THE MAXIMUM EXTENT
PERMITTED BY LAW, BORROWER HEREBY AGREES THAT ALL ACTIONS OR PROCEEDINGS ARISING
IN CONNECTION WITH THIS NOTE SHALL BE TRIED AND DETERMINED ONLY IN THE STATE AND
FEDERAL COURTS LOCATED IN THE COUNTY OF COOK, STATE OF ILLINOIS, OR, AT THE SOLE
OPTION OF LENDER IN ANY OTHER COURT IN WHICH LENDER SHALL INITIATE LEGAL OR
EQUITABLE PROCEEDINGS AND WHICH HAS SUBJECT MATTER JURISDICTION OVER THE MATTER
IN CONTROVERSY. TO THE MAXIMUM EXTENT PERMITTED BY LAW, BORROWER HEREBY
EXPRESSLY WAIVES ANY RIGHT IT MAY HAVE TO ASSERT THE DOCTRINE OF FORUM NON
CONVENIENS OR TO OBJECT TO VENUE TO THE EXTENT ANY PROCEEDING IS BROUGHT IN
ACCORDANCE WITH THIS PARAGRAPH.

         TO THE MAXIMUM EXTENT PERMITTED BY LAW, BORROWER AND LENDER EACH HEREBY
EXPRESSLY WAIVE ANY RIGHT TO TRIAL BY JURY OF ANY ACTION, CAUSE OF ACTION,
CLAIM, DEMAND, OR PROCEEDING ARISING UNDER OR WITH RESPECT TO THIS NOTE, OR IN
ANY WAY CONNECTED WITH, RELATED TO, OR INCIDENTAL TO THE DEALINGS OF BORROWER
AND LENDER WITH RESPECT TO THIS NOTE, OR THE TRANSACTION RELATED HERETO, IN EACH
CASE WHETHER NOW EXISTING OR HEREAFTER ARISING, AND WHETHER SOUNDING IN
CONTRACT, TORT, OR OTHERWISE. TO THE MAXIMUM EXTENT PERMITTED BY LAW, BORROWER
AND LENDER EACH HEREBY AGREE THAT ANY SUCH ACTION, CAUSE OF ACTION, CLAIM,
DEMAND OR PROCEEDING SHALL BE DECIDED BY A COURT TRIAL WITHOUT A JURY AND THAT
BORROWER OR LENDER MAY FILE A COPY OF THIS EXECUTED NOTE WITH ANY COURT OR OTHER
TRIBUNAL AS WRITTEN EVIDENCE OF THE CONSENT OF BORROWER AND LENDER TO THE WAIVER
OF ITS RIGHT TO TRIAL BY JURY.

                            [SIGNATURE PAGE FOLLOWS]

                                     - 9 -

<PAGE>

                                                                   EXHIBIT 10.20

                        (SIGNATURE PAGE TO MORTGAGE NOTE)

         IN WITNESS WHEREOF, the Borrower has executed this Mortgage Note as of
the date and year first above stated.

                                             SIGMATRON INTERNATIONAL, INC.

                                             By: /s/ Linda K. Blake
                                                 ------------------------------
                                                  Its: Chief Financial Officer

                                     - 10 -