Document:

THIS
      NOTE
      AND THE SECURITIES ISSUABLE UPON ITS CONVERSION HAVE NOT BEEN REGISTERED UNDER
      THE SECURITIES ACT OF 1933 AND MAY NOT BE SOLD, TRANSFERRED OR ASSIGNED UNLESS
      SO REGISTERED OR AN EXEMPTION FROM REGISTRATION UNDER SAID ACT IS
      AVAILABLE.

     

    No.
      __

     

    SMART
      ENERGY SOLUTIONS, INC.

    

    5%
      Convertible Promissory Note Due May 30, 2008

    

      
        	
                U.S.
                  $250,000

              	
                April
                  27, 2008

              

      

    

     

    Smart
      Energy Solutions, Inc., a Nevada corporation (the “Company” or the “Maker”), for
      value received, hereby promises to pay to EGFE , or registered assigns, the
      principal sum of five-hundred thousand U.S. dollars ($250,000) plus all accrued
      but unpaid interest on May 30, 2008 (the “Maturity Date”). Interest shall be
      computed on the basis of a 365-day year from the date hereof on the unpaid
      balance of such principal amount from time to time outstanding at the rate
      of
      five percent (5%) per annum, such interest to be due and payable in full on
      the
      Maturity Date.

     

    This
      Note
      shall become immediately due and payable without notice or demand upon the
      occurrence at any time of any of the following events of default (individually,
      an “Event of Default” and collectively, “Events of Default”):

     

    
      	 	
              1.

            	
              default
                in the payment or performance of this or any other liability or obligation
                of the Maker to the holder, including the payment when due of any
                principal, premium or interest under this
                Note;

            

    

     

    
      	 	
              2.

            	
              the
                liquidation, termination of existence, dissolution, insolvency or
                business
                failure of the Maker, or the appointment of a receiver or custodian
                for
                the Maker or any part of its property if such appointment is not
                terminated or dismissed within sixty (60) days;
                or

            

    

     

    
      	 	
              3.

            	
              the
                institution by or against the Maker or any indorser or guarantor
                of this
                Note of any proceedings under the United States Bankruptcy Code or
                any
                other federal or state bankruptcy, reorganization, receivership,
                insolvency or other similar law affecting the rights of creditors
                generally or the making by the Maker or any indorser or guarantor
                of this
                Note of a composition or an assignment or trust mortgage for the
                benefit
                of creditors.

            

    

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

     

    Upon
      the
      occurrence of an Event of Default, the holder shall have then, or at any time
      thereafter, all of the rights and remedies afforded by the Uniform Commercial
      Code as from time to time in effect in the State of New Jersey or afforded
      by
      other applicable law.

     

    Every
      amount overdue under this Note shall bear interest from and after the date
      on
      which such amount first became overdue at an annual rate which is five (5)
      percentage points above the rate per year specified in the first paragraph
      of
      this Note. Such interest on overdue amounts under this Note shall be payable
      on
      demand and shall accrue and be compounded monthly until the obligation of the
      Maker with respect to the payment of such interest has been discharged (whether
      before or after judgment).

     

    In
      no
      event shall any interest charged, collected or reserved under this Note exceed
      the maximum rate then permitted by applicable law and if any such payment is
      paid by the Maker, then such excess sum shall be credited by the holder as
      a
      payment of principal.

     

    All
      payments by the Maker under this Note shall be made without set-off or
      counterclaim and be free and clear and without any deduction or withholding
      for
      any taxes or fees of any nature whatever, unless the obligation to make such
      deduction or withholding is imposed by law. The Maker shall pay and save the
      holder harmless from all liabilities with respect to or resulting from any
      delay
      or omission to make any such deduction or withholding required by
      law.

     

    Whenever
      any amount is paid under this Note, all or part of the amount paid may be
      applied to principal, premium or interest in such order and manner as shall
      be
      determined by the holder in its discretion.

     

    No
      reference in this Note to any guaranty or other document shall impair the
      obligation of the Maker, which is absolute and unconditional, to pay all amounts
      under this Note strictly in accordance with the terms of this Note.

     

    The
      Maker
      agrees to pay on demand all costs of collection, including reasonable attorneys’
fees, incurred by the holder in enforcing the obligations of the Maker under
      this Note.

     

    No
      delay
      or omission on the part of the holder in exercising any right under this Note
      shall operate as a waiver of such right or of any other right of such holder,
      nor shall any delay, omission or waiver on any one occasion be deemed a bar
      to
      or waiver of the same or any other right on any future occasion. The Maker
      and
      every indorser or guarantor of this Note regardless of the time, order or place
      of signing waives presentment, demand, protest and notices of every kind and
      assents to any extension or postponement of the time of payment or any other
      indulgence, to any substitution, exchange or release of collateral, and to
      the
      addition or release of any other party or person primarily or secondarily
      liable.

     

    
      
         

      

      
        -2-

        
          

        

      

      
         

      

    

     

    1.    Conversion.
      Upon
      the earlier of (i) May 30, 2008, and (ii) the consummation of the Company’s
      offering (the “Offering”) pursuant to the Placement Agent Agreement, dated April
      4, 2008, between the Company and EKN Financial Services, Inc., the outstanding
      principal and all accrued and unpaid interest under this Note shall be converted
      into fully-paid and non-assessable shares of the Company’s common stock, $0.001
      par value (the “Common Stock”), and Common Stock purchase warrants, each
      entitling the holder to purchase one share of Common Stock at an exercise price
      equal to the purchase price of the Common Stock sold in the Offering at any
      time
      on or before the fifth anniversary of the date of this Note. The number of
      shares of Common Stock that shall be issued upon conversion of this Note shall
      be calculated by dividing the amount of outstanding principal and all accrued
      and unpaid interest by the Conversion Price (defined below). The number of
      Warrants that shall be issued upon conversion of this Note shall be equal to
      one-quarter of the number of shares of Common Stock issued in connection
      therewith. The Conversion Price shall mean 60% of the average closing price
      of
      the Common Stock as quoted on the Over-the-Counter Bulletin Board or such other
      exchange where the Common Stock is quoted or listed for the fifteen consecutive
      trading days ending the day prior to the first closing of the Offering. On
      or
      before the date of conversion, the holder shall provide notice to the Maker
      regarding the name or names (with address and Social Security number or federal
      tax identification number) in which the certificates evidencing the securities
      issued upon conversion of this Note shall be registered. Notwithstanding the
      foregoing or anything to the contrary, upon the occurrence of an Event of
      Default (unless waived by the holder), the Conversion Price shall mean 60%
      of
      the average of the last bid and ask price of the Common Stock as quoted on
      the
      Over-the-Counter Bulletin Board or such other exchange where the Common Stock
      is
      quoted or listed for the five trading days ending the day prior to the
      occurrence of the Event of Default. 

     

    2.    Surrender
      of Note and Delivery of Certificates.
      When
      surrendered for conversion this Note shall, unless the shares issuable upon
      conversion are to be issued in the same name as the name in which this Note
      is
      then registered, be duly indorsed by, or accompanied by instruments of transfer
      in form satisfactory to the Company duly executed by the holder or his or its
      duly authorized attorney. As promptly as practicable after the surrender of
      this
      Note for conversion, the Company shall deliver or cause to be delivered at
      its
      principal executive office to the holder, or on the holder’s written order, a
      certificate or certificates for the number of full shares of Common Stock and
      Common Stock purchase warrants issuable upon the conversion of this Note, in
      accordance with the provisions hereof. 

     

    3.    Adjustment
      of Conversion Price.

     

    (i)    In
      case
      the Company shall:

     

    (A)    declare
      a
      dividend of Common Stock on its Common Stock,

     

    (B)    subdivide
      outstanding Common Stock into a larger number of shares of Common Stock by
      reclassification, stock split or otherwise, or

     

    (C)    combine
      outstanding Common Stock into a smaller number of shares of Common Stock by
      reclassification or otherwise, 

     

    then
      the
      number of shares of Common Stock issuable upon conversion of this Note
      immediately prior to any such event shall be adjusted proportionately so that
      thereafter the holder of this Note shall be entitled to receive upon conversion
      of this Note the number of shares of Common Stock which such holder would have
      owned after the happening of any of the events described above had this Note
      been converted immediately prior to the happening of such event, provided that
      the Conversion Price shall in no event be reduced to less than the par value
      of
      the shares issuable upon conversion. Such adjustment shall become effective
      immediately after the record date in the case of a dividend and shall become
      effective immediately after the effective date in the case of a subdivision
      or
      combination.

     

    
      
         

      

      
        -3-

        
          

        

      

      
         

      

    

     

    (ii)    If,
      prior
      to the Maturity Date, the Company shall at any time consolidate or merge with
      another corporation (other than a merger or consolidation in which the Company
      is the surviving corporation), the registered holder hereof will thereafter
      be
      entitled to receive, upon the conversion hereof, the securities or property
      to
      which a holder of the number of shares of Common Stock then deliverable upon
      the
      conversion hereof would have been entitled upon such consolidation or merger,
      and the Company shall take such steps in connection with such consolidation
      or
      merger as may be necessary to ensure that the provisions hereof shall thereafter
      be applicable, as nearly as reasonably may be, in relation to any securities
      or
      property thereafter deliverable upon the conversion of this Note.

     

    4.    Statement
      of Adjustment.
      Whenever the Conversion Price shall be adjusted as provided herein, the Company
      shall provide the holder with a statement, signed by the Chairman of the Board,
      the President, any Vice President, the Chief Financial Officer or Secretary
      of
      the Company, showing in reasonable detail the facts requiring such adjustment
      and the Conversion Price that will be effective after such adjustment. The
      Company shall also cause a notice setting forth any such adjustment to be sent
      by mail, first class, postage prepaid, to the record holder of the Note at
      his
      or its last known address appearing on the records of the Maker. 

     

    5.    Fractional
      Shares.
      No
      fractional shares of Common Stock shall be issuable upon conversion of this
      Note, but a payment in cash will be made in respect of any fraction of a share
      which would otherwise be issuable upon the surrender of this Note, or portion
      hereof, for conversion. Such payment shall be based on the Conversion
      Price.

     

    6.    Accrued
      Interest.
      Upon
      the conversion of this Note, the Company shall not be required to pay any
      accrued but unpaid interest on the amount so converted up to the date of
      conversion.

     

    7.    Securities
      Act of 1933.
      Upon
      conversion of this Note, the registered holder may be required to execute and
      deliver to the Company an instrument, in form satisfactory to the Company,
      representing that the shares issuable upon conversion hereof are being acquired
      for investment and not with a view to distribution within the meaning of the
      Securities Act of 1933, as amended.

     

    8.    Prepayment.
      The
      principal indebtedness and any accrued interest thereon represented by this
      Note
      may be prepaid in whole or in part to the holder of this Note.

     

    9.    Successors
      and Assigns.
      This
      Note, and the obligations and rights of the Company hereunder, shall be binding
      upon and inure to the benefit of the Company, the holder of this Note, and
      their
      respective heirs, successors and assigns.

     

    10.    Recourse.
      Recourse under this Note shall be to the general unsecured assets of the Company
      only and in no event to the officers, directors or stockholders of the
      Company.

     

    11.    Changes.
      Changes
      in or additions to this Note may be made or compliance with any term, covenant,
      agreement, condition or provision set forth herein may be omitted or waived
      (either generally or in a particular instance and either retroactively or
      prospectively), upon written consent of the Company and the holder.

     

    
      
         

      

      
        -4-

        
          

        

      

      
         

      

    

     

    12.    Currency.
      All
      payments shall be made in such coin or currency of the United States of America
      as at the time of payment shall be legal tender therein for the payment of
      public and private debts.

     

    13.    Notices.
      All
      notices, requests, consents and demands shall be made in writing and shall
      be
      mailed postage prepaid, or delivered by hand, to the Company or to the holder
      hereof at their respective addresses set forth below or to such other address
      as
      may be furnished in writing to the other party hereto:

     

    If
      to the
      holder:

    

    EGFE                                                       

    ____________________________

    ____________________________

    

    

    If
      to the
      Company:

    

    Smart
      Energy Solutions Inc.

    210
      West
      Parkway, #7

    Pompton
      Plains, NJ 07444

    Attn.
      Chief
      Financial Officer

     

    with
      a
      copy to:

    

    David
      Lubin & Associates, PLLC

    26
      East
      Hawthorne Avenue

    Valley
      Stream, NY 11580-6302

    Attn.
      David
      Lubin, Esq.

     

    14.    Saturdays,
      Sundays, Holidays.
      If any
      date that may at any time be specified in this Note as a date for the making
      of
      any payment of principal or interest under this Note shall fall on Saturday,
      Sunday or on a day which in the State of New Jersey shall be a legal holiday,
      then the date for the making of that payment shall be the next subsequent day
      which is not a Saturday, Sunday or legal holiday.

     

    15.    Governing
      Law.
      This
      Note shall be construed and enforced in accordance with, and the rights of
      the
      parties shall be governed by, the laws of the State of New Jersey.

     

    
      
         

      

      
        -5-

        
          

        

      

      
         

      

    

    

    IN
      WITNESS WHEREOF, this Note has been executed and delivered as a sealed
      instrument on the date first above written by the duly authorized representative
      of the Company.

     

    
      	 	
              SMART
                ENERGY SOLUTIONS, INC.

              

               

              By:
                /s/
                Edward
                Braniff                            
                

              Name:
                Edward Braniff

              Title:
                Chief
                Financial Officer

            

    

     

    
      
         

      

      
        -6-THIS
      NOTE
      AND THE SECURITIES ISSUABLE UPON ITS CONVERSION HAVE NOT BEEN REGISTERED UNDER
      THE SECURITIES ACT OF 1933 AND MAY NOT BE SOLD, TRANSFERRED OR ASSIGNED UNLESS
      SO REGISTERED OR AN EXEMPTION FROM REGISTRATION UNDER SAID ACT IS
      AVAILABLE.

     

    No.
      __

     

    SMART
      ENERGY SOLUTIONS, INC.

    

    5%
      Convertible Promissory Note Due May 30, 2008

    

      
        	
                U.S.
                  $250,000

              	
                April
                  27, 2008

              

      

    

     

    Smart
      Energy Solutions, Inc., a Nevada corporation (the “Company” or the “Maker”), for
      value received, hereby promises to pay to Bank Julius Baer & Co. Ltd. , or
      registered assigns, the principal sum of two hundred and fifty thousand U.S.
      dollars ($250,000) plus all accrued but unpaid interest on May 30, 2008 (the
      “Maturity Date”). Interest shall be computed on the basis of a 365-day year from
      the date hereof on the unpaid balance of such principal amount from time to
      time
      outstanding at the rate of five percent (5%) per annum, such interest to be
      due
      and payable in full on the Maturity Date.

     

    This
      Note
      shall become immediately due and payable without notice or demand upon the
      occurrence at any time of any of the following events of default (individually,
      an “Event of Default” and collectively, “Events of Default”):

     

    
      	 	
              1.

            	
              default
                in the payment or performance of this or any other liability or obligation
                of the Maker to the holder, including the payment when due of any
                principal, premium or interest under this
                Note;

            

    

     

    
      	 	
              2.

            	
              the
                liquidation, termination of existence, dissolution, insolvency or
                business
                failure of the Maker, or the appointment of a receiver or custodian
                for
                the Maker or any part of its property if such appointment is not
                terminated or dismissed within sixty (60) days;
                or

            

    

     

    
      	 	
              3.

            	
              the
                institution by or against the Maker or any indorser or guarantor
                of this
                Note of any proceedings under the United States Bankruptcy Code or
                any
                other federal or state bankruptcy, reorganization, receivership,
                insolvency or other similar law affecting the rights of creditors
                generally or the making by the Maker or any indorser or guarantor
                of this
                Note of a composition or an assignment or trust mortgage for the
                benefit
                of creditors.

            

    

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

     

    Upon
      the
      occurrence of an Event of Default, the holder shall have then, or at any time
      thereafter, all of the rights and remedies afforded by the Uniform Commercial
      Code as from time to time in effect in the State of New Jersey or afforded
      by
      other applicable law.

     

    Every
      amount overdue under this Note shall bear interest from and after the date
      on
      which such amount first became overdue at an annual rate which is five (5)
      percentage points above the rate per year specified in the first paragraph
      of
      this Note. Such interest on overdue amounts under this Note shall be payable
      on
      demand and shall accrue and be compounded monthly until the obligation of the
      Maker with respect to the payment of such interest has been discharged (whether
      before or after judgment).

     

    In
      no
      event shall any interest charged, collected or reserved under this Note exceed
      the maximum rate then permitted by applicable law and if any such payment is
      paid by the Maker, then such excess sum shall be credited by the holder as
      a
      payment of principal.

     

    All
      payments by the Maker under this Note shall be made without set-off or
      counterclaim and be free and clear and without any deduction or withholding
      for
      any taxes or fees of any nature whatever, unless the obligation to make such
      deduction or withholding is imposed by law. The Maker shall pay and save the
      holder harmless from all liabilities with respect to or resulting from any
      delay
      or omission to make any such deduction or withholding required by
      law.

     

    Whenever
      any amount is paid under this Note, all or part of the amount paid may be
      applied to principal, premium or interest in such order and manner as shall
      be
      determined by the holder in its discretion.

     

    No
      reference in this Note to any guaranty or other document shall impair the
      obligation of the Maker, which is absolute and unconditional, to pay all amounts
      under this Note strictly in accordance with the terms of this Note.

     

    The
      Maker
      agrees to pay on demand all costs of collection, including reasonable attorneys’
fees, incurred by the holder in enforcing the obligations of the Maker under
      this Note.

     

    No
      delay
      or omission on the part of the holder in exercising any right under this Note
      shall operate as a waiver of such right or of any other right of such holder,
      nor shall any delay, omission or waiver on any one occasion be deemed a bar
      to
      or waiver of the same or any other right on any future occasion. The Maker
      and
      every indorser or guarantor of this Note regardless of the time, order or place
      of signing waives presentment, demand, protest and notices of every kind and
      assents to any extension or postponement of the time of payment or any other
      indulgence, to any substitution, exchange or release of collateral, and to
      the
      addition or release of any other party or person primarily or secondarily
      liable.

     

    
      
         

      

      
        -2-

        
          

        

      

      
         

      

    

     

    1.    Conversion.
      Upon
      the earlier of (i) May 30, 2008, and (ii) the consummation of the Company’s
      offering (the “Offering”) pursuant to the Placement Agent Agreement, dated April
      4, 2008, between the Company and EKN Financial Services, Inc., the outstanding
      principal and all accrued and unpaid interest under this Note shall be converted
      into fully-paid and non-assessable shares of the Company’s common stock, $0.001
      par value (the “Common Stock”), and Common Stock purchase warrants, each
      entitling the holder to purchase one share of Common Stock at an exercise price
      equal to the purchase price of the Common Stock sold in the Offering at any
      time
      on or before the fifth anniversary of the date of this Note. The number of
      shares of Common Stock that shall be issued upon conversion of this Note shall
      be calculated by dividing the amount of outstanding principal and all accrued
      and unpaid interest by the Conversion Price (defined below). The number of
      Warrants that shall be issued upon conversion of this Note shall be equal to
      one-quarter of the number of shares of Common Stock issued in connection
      therewith. The Conversion Price shall mean 60% of the average closing price
      of
      the Common Stock as quoted on the Over-the-Counter Bulletin Board or such other
      exchange where the Common Stock is quoted or listed for the fifteen consecutive
      trading days ending the day prior to the first closing of the Offering. On
      or
      before the date of conversion, the holder shall provide notice to the Maker
      regarding the name or names (with address and Social Security number or federal
      tax identification number) in which the certificates evidencing the securities
      issued upon conversion of this Note shall be registered. Notwithstanding the
      foregoing or anything to the contrary, upon the occurrence of an Event of
      Default (unless waived by the holder), the Conversion Price shall mean 60%
      of
      the average of the last bid and ask price of the Common Stock as quoted on
      the
      Over-the-Counter Bulletin Board or such other exchange where the Common Stock
      is
      quoted or listed for the five trading days ending the day prior to the
      occurrence of the Event of Default. 

     

    2.    Surrender
      of Note and Delivery of Certificates.
      When
      surrendered for conversion this Note shall, unless the shares issuable upon
      conversion are to be issued in the same name as the name in which this Note
      is
      then registered, be duly indorsed by, or accompanied by instruments of transfer
      in form satisfactory to the Company duly executed by the holder or his or its
      duly authorized attorney. As promptly as practicable after the surrender of
      this
      Note for conversion, the Company shall deliver or cause to be delivered at
      its
      principal executive office to the holder, or on the holder’s written order, a
      certificate or certificates for the number of full shares of Common Stock and
      Common Stock purchase warrants issuable upon the conversion of this Note, in
      accordance with the provisions hereof. 

     

    3.    Adjustment
      of Conversion Price.

     

    (i)    In
      case
      the Company shall:

     

    (A)    declare
      a
      dividend of Common Stock on its Common Stock,

     

    (B)    subdivide
      outstanding Common Stock into a larger number of shares of Common Stock by
      reclassification, stock split or otherwise, or

     

    (C)    combine
      outstanding Common Stock into a smaller number of shares of Common Stock by
      reclassification or otherwise, 

     

    then
      the
      number of shares of Common Stock issuable upon conversion of this Note
      immediately prior to any such event shall be adjusted proportionately so that
      thereafter the holder of this Note shall be entitled to receive upon conversion
      of this Note the number of shares of Common Stock which such holder would have
      owned after the happening of any of the events described above had this Note
      been converted immediately prior to the happening of such event, provided that
      the Conversion Price shall in no event be reduced to less than the par value
      of
      the shares issuable upon conversion. Such adjustment shall become effective
      immediately after the record date in the case of a dividend and shall become
      effective immediately after the effective date in the case of a subdivision
      or
      combination.

     

    
      
         

      

      
        -3-

        
          

        

      

      
         

      

    

     

    (ii)    If,
      prior
      to the Maturity Date, the Company shall at any time consolidate or merge with
      another corporation (other than a merger or consolidation in which the Company
      is the surviving corporation), the registered holder hereof will thereafter
      be
      entitled to receive, upon the conversion hereof, the securities or property
      to
      which a holder of the number of shares of Common Stock then deliverable upon
      the
      conversion hereof would have been entitled upon such consolidation or merger,
      and the Company shall take such steps in connection with such consolidation
      or
      merger as may be necessary to ensure that the provisions hereof shall thereafter
      be applicable, as nearly as reasonably may be, in relation to any securities
      or
      property thereafter deliverable upon the conversion of this Note.

     

    4.    Statement
      of Adjustment.
      Whenever the Conversion Price shall be adjusted as provided herein, the Company
      shall provide the holder with a statement, signed by the Chairman of the Board,
      the President, any Vice President, the Chief Financial Officer or Secretary
      of
      the Company, showing in reasonable detail the facts requiring such adjustment
      and the Conversion Price that will be effective after such adjustment. The
      Company shall also cause a notice setting forth any such adjustment to be sent
      by mail, first class, postage prepaid, to the record holder of the Note at
      his
      or its last known address appearing on the records of the Maker. 

     

    5.    Fractional
      Shares.
      No
      fractional shares of Common Stock shall be issuable upon conversion of this
      Note, but a payment in cash will be made in respect of any fraction of a share
      which would otherwise be issuable upon the surrender of this Note, or portion
      hereof, for conversion. Such payment shall be based on the Conversion
      Price.

     

    6.    Accrued
      Interest.
      Upon
      the conversion of this Note, the Company shall not be required to pay any
      accrued but unpaid interest on the amount so converted up to the date of
      conversion.

     

    7.    Securities
      Act of 1933.
      Upon
      conversion of this Note, the registered holder may be required to execute and
      deliver to the Company an instrument, in form satisfactory to the Company,
      representing that the shares issuable upon conversion hereof are being acquired
      for investment and not with a view to distribution within the meaning of the
      Securities Act of 1933, as amended.

     

    8.    Prepayment.
      The
      principal indebtedness and any accrued interest thereon represented by this
      Note
      may be prepaid in whole or in part to the holder of this Note.

     

    9.    Successors
      and Assigns.
      This
      Note, and the obligations and rights of the Company hereunder, shall be binding
      upon and inure to the benefit of the Company, the holder of this Note, and
      their
      respective heirs, successors and assigns.

     

    10.    Recourse.
      Recourse under this Note shall be to the general unsecured assets of the Company
      only and in no event to the officers, directors or stockholders of the
      Company.

     

    11.    Changes.
      Changes
      in or additions to this Note may be made or compliance with any term, covenant,
      agreement, condition or provision set forth herein may be omitted or waived
      (either generally or in a particular instance and either retroactively or
      prospectively), upon written consent of the Company and the holder.

     

    
      
         

      

      
        -4-

        
          

        

      

      
         

      

    

     

    12.    Currency.
      All
      payments shall be made in such coin or currency of the United States of America
      as at the time of payment shall be legal tender therein for the payment of
      public and private debts.

     

    13.    Notices.
      All
      notices, requests, consents and demands shall be made in writing and shall
      be
      mailed postage prepaid, or delivered by hand, to the Company or to the holder
      hereof at their respective addresses set forth below or to such other address
      as
      may be furnished in writing to the other party hereto:

     

    If
      to the
      holder:

    

    Bank
      Julius Baer & Co. Ltd.

    _____________________

    _____________________

    

    

    If
      to the
      Company:

    

    Smart
      Energy Solutions Inc.

    210
      West
      Parkway, #7

    Pompton
      Plains, NJ 07444

    Attn.
      Chief
      Financial Officer

     

    with
      a
      copy to:

    

    David
      Lubin & Associates, PLLC

    26
      East
      Hawthorne Avenue

    Valley
      Stream, NY 11580-6302

    Attn.
      David
      Lubin, Esq.

     

    14.    Saturdays,
      Sundays, Holidays.
      If any
      date that may at any time be specified in this Note as a date for the making
      of
      any payment of principal or interest under this Note shall fall on Saturday,
      Sunday or on a day which in the State of New Jersey shall be a legal holiday,
      then the date for the making of that payment shall be the next subsequent day
      which is not a Saturday, Sunday or legal holiday.

     

    15.    Governing
      Law.
      This
      Note shall be construed and enforced in accordance with, and the rights of
      the
      parties shall be governed by, the laws of the State of New Jersey.

     

    
      
         

      

      
        -5-

        
          

        

      

      
         

      

    

    

    IN
      WITNESS WHEREOF, this Note has been executed and delivered as a sealed
      instrument on the date first above written by the duly authorized representative
      of the Company.

     

    
      	 	
              SMART
                ENERGY SOLUTIONS, INC.

              

               

              By:
                /s/
                Edward
                Braniff                       
                

              Name:
                Edward Braniff

              Title:
                Chief
                Financial Officer

            

    

     

    
      
         

      

      
        -6-

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