duties of Borrower shall bind all successors and assigns of Borrower.
This
Note shall in all re­spects be governed by the laws of the Commonwealth of
Virginia (except to the extent that federal law governs).
UPON THE OCCURRENCE OF AN EVENT OF DEFAULT, THE BORROWER HEREBY APPOINTS AND
DESIGNATES QUENTIN R. CORRIE, ESQUIRE, A MEMBER OF THE VIRGINIA BAR, THE
BORROWER'S DULY CONSTITUTED ATTORNEY-IN-FACT TO DELIVER TO LENDER PURSUANT TO
THE PLEDGE AGREEMENT 600 SHARES OF STOCK OF TARGET AMERICA, INC. AND TAKE SUCH
FURTHER ACTION UNDER THE PLEDGE AGREEMENT AND EXECUTE ANY AND ALL DOCUMENTS TO
GIVE EFFECT TO THE FOREGOING OR THE BORROWER SHALL, UPON REQUEST OF THE LENDER,
NAME SUCH ADDITIONAL OR ALTERNATIVE PERSONS DESIGNATED BY THE LENDER AS THE
BORROWER'S DULY CONSTITUTED ATTORNEY OR ATTORNEYS-IN-FACT TO
TAKE ANY ACTION
AUTHORIZED IN THIS INSTRUMENT OR THE PLEDGE AGREEMENT, PURSUANT TO THE FOREGOING
PARAGRAPH.
THE BORROWER REPRESENTS AND WARRANTS THAT THE OBLIGATIONS EVIDENCED
BY THIS NOTE WERE NOT INCURRED FOR PERSONAL, FAMILY OR HOUSEHOLD PURPOSES.
THE
BORROWER HEREBY RELEASES, TO THE EXTENT PERMITTED BY APPLICABLE LAW, ALL ERRORS
AND ALL RIGHTS OF EXEMPTION, APPEAL, STAY OF EXECUTION, INQUISITION, AND OTHER
RIGHTS TO WHICH THE BORROWER MAY OTHERWISE BE ENTITLED UNDER THE LAWS OF THE
UNITED STATES OF AMERICA OR OF ANY STATE OR POSSESSION OF THE UNITED STATES OF
AMERICA NOW IN FORCE AND WHICH MAY HEREAFTER BE ENACTED.
THE AUTHORITY AND
POWER GRANTED TO THE ATTORNEY-IN-FACT SHALL NOT BE EXHAUSTED BY ONE OR MORE
EXERCISES THEREOF OR BY ANY IMPERFECT EXERCISE THEREOF AND SHALL NOT BE
EXTINGUISHED BY ANY ACTION TAKEN PURSUANT THERETO.
SUCH AUTHORITY MAY BE
EXERCISED ON ONE OR MORE OCCASIONS OR FROM TIME TO TIME AS OFTEN AS THE LENDER
SHALL DEEM NECESSARY OR DESIRABLE, FOR ALL OF WHICH THIS NOTE SHALL BE
SUFFICIENT WARRANT.
Witness the due execution hereof.
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Witness:
____________________________
__________________________________
AIMS Worldwide, Inc.
By: ______________________________
Its: ______________________________
Commonwealth of Virginia
City/County of ___________________, to-wit:
Subscribed and sworn to before me by __________________________________ on this
_____ day of _______________, 2006.
_________________________
Notary Public
My Commission Expires:
____________________
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