Document:

AMENDED AND RESTATED

                        SECURED PROMISSORY NOTE

                     Secured by Security Agreement

$3,857,911                                             March 31,
2000

For value received, the undersigned, Electronic Transactions &

Technologies, a Nevada corporation, and Thomas S. Hughes

(collectively, "Obligor"), hereby promise to pay to eConnect, a

Nevada corporation ("Obligee"), as such place or to such other

party or parties or order as Obligee may from time to time

designate, the principal sum of Three Million Eight Hundred

Fifty-Seven Thousand Nine Hundred Eleven Dollars ($3,857,911)

with interest at the legal rate of ten percent (10%) annually

beginning July 1, 1999 (March 31, 2000 for the sum of One Million

Twenty-One Thousand Five Hundred Dollars ($1,021,500)).  This

promissory note ("Note"), including principal and interest, shall

be paid in full upon demand.  All payments hereunder shall be

made in cash or cash equivalent funds immediately available and

acceptable to Obligee, made payable to eConnect, 2500 Via

Cabrillo Marina, Suite 112, San Pedro, California 90731,

delivered personally or in the United States mail by certified or

registered letter.

Obligor acknowledge that any default in the making or performing

of any of the payments, agreements or conditions of this Note, or

any other agreement or instrument now or hereinafter entered into

among Obligor and Obligee hereunder, will result in loss and

additional expenses to Obligee in servicing the indebtedness

evidenced hereby, handling such delinquent payments and meeting

their other financial obligations.

In the event of the failure to make full payment when due under

the terms of this Note, the Obligee may declare the entire

principal balance and accrued interest due and payable

immediately.  As an alternative, Obligor shall return to Obligee

restricted stock certificates totaling 9,400,000 shares of common

stock of Obligee in the event of such failure.  Obligor hereby

waive to the fullest extent allowable, any and all defenses,

offsets or counterclaims with regard to any action by Obligee for

reinforcement of this Note, including the defense of expiration

of the statute of limitations.  The only issue in any such action

shall be that of payment or nonpayment hereunder and any such

action shall be so limited.  No portion of this Note, or payment

hereunder, shall be subject to offset or refund by reason of any

claims of Obligor.

This Note is made in conjunction with that certain security

agreement by and between Obligor and Obligee ("Security

Agreement") and reference to the Security Agreement herein is

made for informational purposes only and in accordance with the

provisions of Section 3105(1)(c) and 3105(1)(e) of the California

Commercial Code ("Code").  Any default under the Security

Agreement or any other agreement now existing or hereinafter

entered into by and between Obligor and Obligee shall be a breach

hereunder and constitute a default allowing Obligee to accelerate

this Note.  The above acceleration provision is made in

accordance with Section 3109(1)(c) of the Code.  Notwithstanding

the foregoing, Obligor's promise to pay hereunder is an

unconditional promise to pay to Obligee a sum certain in money on

demand or at a definite time which does not include any other

demand or at a definite time which does not include any other

promise, obligation or power given by Obligor (except as

otherwise authorized by Division 3 of the Code) all in accordance

with the provisions of Section 3104 of the Code.  This Note is

intended to constitute a negotiable instrument as defined in the

Code.

If this Note, or any payment or charge hereunder, is not paid

when due, whether at maturity or by acceleration or otherwise, or

should any controversy arise hereunder necessitating legal,

equitable or administrative action, Obligor promises to pay all

costs of collection in such action, including, but not limited

to, attorneys' fees and costs.

Obligor expressly waives presentment, protest and demand, notice

of protest, demand and dishonor and nonpayment of this Note and

all other notices of any kind, and expressly agree that this

Note, or any payment thereunder, may be extended from time to

time without affecting the liability of Obligor.  No single or

partial exercise of any power hereunder, if any, shall preclude

any other or further exercise thereof or the exercise of any

other power.  The release of any party liable under this Note

shall not operate to release any other party liable thereon.

Obligee expressly declares that Obligee may rely upon the

ostensible authority of the persons signing this Note to be

binding upon Obligor in all respects.

All agreements between Obligor and Obligee are expressly limited

so that in no contingency or event whatsoever, whether by

acceleration of maturity of the unpaid principal balance hereof

or otherwise, shall the amount, if any, paid or agreed to be paid

to Obligee or the use, forbearance or detention of the money to

be advanced hereunder, exceed the highest lawful rate permissible

under applicable usury laws.  If, for any circumstances

whatsoever, fulfillment of any provision hereof at the time

performance of such provision shall be due, shall involve

transcending the limit of validity prescribed by law which a

court of competent jurisdiction may deem applicable thereto, the

ipso facto, obligation to be fulfilled shall be reduced to the

limit of such validity, and if from any circumstances, Obligee

shall ever receive an amount which would be excessive interest,

the same shall be applied to the reduction of the unpaid

principal balance due hereunder and not to the payment of

interest.  This provision shall control every other provision of

all agreements between the undersigned and Obligee.

This Note has been executed and delivered in the State of

California and is to be governed by and construed according to

the laws thereof.  Venue in any action arising shall lie in the

County of Los Angeles, California.

Obligor:

Electronic Transactions & Technologies

By: /s/  Thomas S. Hughes

Thomas S. Hughes, President

/s/  Thomas S. Hughes

Thomas S. Hughes, an individual

Obligee:

eConnect

By: /s/  Thomas S. Hughes

Thomas S. Hughes, PresidentAMENDED AND RESTATED

                          SECURITY AGREEMENT

                            BY AND BETWEEN

                 ELECTRONIC TRANSACTIONS & TECHNOLOGIES

                         AND THOMAS S. HUGHES,

                                  AND

                                ECONNECT

eConnect, a Nevada corporation ("Secured Party"), and Electronic

Transactions & Technologies, a Nevada corporation and Thomas S.

Hughes (collectively, "Debtor") agree as follows:

1.  GRANT OF SECURITY INTEREST.

1.1  The Debtor, jointly and severally, hereby grant to the

Secured Party a security interest in shares of common stock in

Secured Party owned by Debtor in the amount of 9,400,000 as

collateral security for:

1.1.1  The satisfaction and the prompt and full performance of

all of Debtor's obligations under that certain Promissory Note of

even date herewith in the principal amount of Three Million Eight

Hundred Fifty-Seven Thousand Nine Hundred Eleven Dollars

($3,857,911) plus interest at the legal rate of ten percent (10%)

annually beginning July 1, 1999 (March 31, 2000 for the sum of

One Million Twenty-One Thousand Five Hundred Dollars

($1,021,500)) ("Note"), as the Note may be amended, modified, or

extended from time to time (including, without limitation, the

obligation to make payments of principal and interest thereon);

and

1.1.2  The full, faithful, true and exact performance and

observance of all of the obligations, covenants and duties of

Debtor under this Security Agreement, as the same may be amended,

modified, or extended from time to time.

2.  DEFAULT.  Any of the following events shall constitute an

event of default hereunder:

2.1  The failure by Debtor to make full and timely payment when

due of any sum as required to be paid to Secured Party under the

Note after any applicable notice of non-payment provided for in

the Note has been given, and any period within which to cure the

non-payment has elapsed, if applicable.  A true and correct copy

of the Note is attached hereto as Exhibit C and incorporated

herein by this reference.

2.2  The failure by Debtor to fully and timely perform any

covenant, agreement, obligation or duty imposed on Debtor by this

Security Agreement or any other agreement by and between Debtor

and Secured Party now existing or hereinafter made.

2.3  The filing by Debtor of any petition, or commencement by

Debtor of any proceeding, under the Bankruptcy Act or any state

insolvency law.

2.4  The making by Debtor of any general assignment for the

benefit of creditors.

2.5  The filing of any petition, or commencement of any

proceeding, under the Bankruptcy Act or any state insolvency law,

against Debtor, or the appointment of any receiver or trustee,

which petition, proceeding or appointment is not fully and

completely discharged, dismissed or vacated within sixty (60)

days.

2.6  Any warranties made by Debtor are untrue in any material

respect, or any schedule, statement, report, notice, or writing

furnished by Debtor to the Secured Party are untrue in any

material respect on the date as of which the facts set forth are

stated or certified.

3.  INSPECTION OF RECORDS.   Secured Party shall have the right

without notice to inspect all financial books, records and

reports of Debtor at Debtor's premises or wherever the same may

be maintained during normal business hours.

4.  REMEDIES UPON DEFAULT.

4.1  Upon the occurrence of an event of default, in addition to

any and all other remedies at law or in equity available to

Secured Party, Debtors hereby authorize and empower Secured

Party, at Secured Party's option and without notice to Debtor,

except as specifically provided herein (and, to the extent

necessary, hereby irrevocably appoint Secured Party as Debtor's

attorney-in-fact for such purposes):

4.1.1  To require Debtor to assemble any and all of the

Collateral and make the same available to Secured Party at the

premises wherein the same is located, or any other place

designated by Secured Party; Secured Party may enter upon any

premises where any of the Collateral is located and may take

possession of the same without judicial process and without the

need to post any bond or security as an incident thereto; and

4.1.2  To sell, assign, transfer and deliver the whole or any

part of the Collateral on any securities market on which the

Collateral is trading, at such prices and upon such terms as are

commercially reasonable, given the nature of the Collateral and

the market therefor, with or without warranties, demand for

performance, protest, notice of protest, or notice of dishonor

except as set forth herein, any other such advertisement,

presentment, demand or notice being expressly waived by Debtors

to the extent permitted by law.  At any public sale or sales of

the Collateral, Secured Party or Secured Party's assigns may bid

for and purchase all or any party of the Collateral offered for

sale and upon compliance with the terms of such sale, may hold,

exploit and dispose of such Collateral discharged from all claims

of Debtor, except to the extent that Debtor have rights in the

proceeds of such sale or sales, and free from any right or

redemption, all of which are hereby expressly waived and

released, and may in paying the purchase price thereof, in lieu

of cash assignment at the face amount thereof, together with any

interest accrued thereon, all or any part of unpaid principal or

interest or both, payable under the Note.

4.2  In the event of any such sale by Secured Party of all or any

of said Collateral on credit, or for future delivery, such

property so sold may be retained by Secured Party until the

selling price is paid by the purchaser.  Secured Party shall

incur no liability in case of the failure of the purchaser to

take up and pay for the property so sold.  In case of any such

failure, said Collateral may be again, and from time to time,

sold.

4.3  In the event of any such sale or disposition, the proceeds

thereof shall be applied first to the payment of the expenses of

the sale, commissions, actual attorneys' fees, and all other

charges paid or incurred by Secured Party in taking, holding,

selling , advertising, or otherwise preparing such Collateral for

sale or otherwise in connection with maintaining the security of

such Collateral, including any taxes or other charges imposed by

law upon the Collateral and/or the ownership, holding or transfer

thereof; secondly, to pay, satisfy and discharge all indebtedness

of Debtor to Secured Party secured hereby then due and payable

pursuant to the Note; thirdly, to the extent that Debtor may

still have monetary obligations to Secured Party not yet due and

payable, Secured Party may retain any surplus as collateral for

the payment of such sums when due; and fourthly, if all of the

secured obligations are then discharged and satisfied, to pay the

surplus, if any, to Debtor.  Secured Party shall look only to the

assets of the business then operated and/or owned by Debtor to

satisfy any and all claims, defaults or breaches regarding the

Note and shall not in any event, look to any other assets of

Debtor to satisfy same.

4.4  Secured Party shall not be liable or responsible for

safeguarding the Collateral, or any portion thereof, or

maintaining the condition thereof, or for any loss or damage

thereto and diminution in value of the Collateral either through

loss or non-collection.  Secured Party shall not be liable or

responsible for any act or default of any carrier or warehouseman

or of any other person, other than that occasioned by the gross

negligence and willful misconduct of Secured Party.

5.  REPRESENTATIONS AND WARRANTIES.  Debtor represents and

warrants that this Security Agreement has been duly and validly

authorized, executed and delivered by Debtor and constitutes a

valid and binding agreement, enforceable in accordance with its

terms, and the execution and delivery of this Security Agreement

do not violate, or constitute a default (with or without the

giving of notice, the passage of time, or both) under any order,

judgment, agreement, contract, or instrument to which Debtor are

a party or by which Debtor are affected or may be bound.  Debtor

represents that Debtor will at all times maintain the Collateral

in good state of repair and condition consistent with good

business practice, will pay any and all taxes thereon or

applicable thereto prior to delinquency.

6.  INDEMNITY.  In the case of any adverse claim with respect to

the Collateral or any portion thereof arising out of any act
done, or

permitted or acquiesced in by Debtor, Debtor indemnifies and
agrees to

hold Secured Party harmless from and against any and all claims,

losses, liabilities, damages, expenses, costs and actual

attorneys' fees incurred by Secured Party in or by virtue of

exercising any right, power or remedy of Secured Party hereunder

or defending, protecting, enforcing or prosecuting the security

interest hereby created.  Any such loss, cost, liability, damage

or expense so incurred shall be repaid upon demand by Secured

Party and until so paid shall be deemed a secured obligation

hereunder.

7.  NO WAIVER BY SECURED PARTY.  Any forbearance, failure, or

delay by Secured Party in exercising any right, power or remedy
hereunder

shall not be deemed to be a waiver of such right, power, or

remedy, and any single or partial exercise of any right, power,

or remedy of Secured party shall not preclude the later exercise

of any other right, power, or remedy, each of which shall

continue in full force and effect until such right, power, or

remedy is specifically waived by an instrument in writing,

executed by Secured Party.

8.  EFFECTIVENESS OF AGREEMENT.  This Security Agreement and

Debtors' duties and obligations and Secured Party's powers to
dispose of

the Collateral, and all other rights, powers and remedies granted

to Secured Party hereunder shall remain in full force and effect

until Debtor has satisfied and discharged all of Debtor's

obligations to Secured Party secured thereby.

9.  WAIVER BY DEBTOR.  All provisions of law, in equity and by

statute providing for providing for, relating to, or pertaining

to pledges or security interests and the sale of pledged property

or property in which a security interest is granted, or which

prescribe, prohibit, limit or restrict the right to, or

conditions, notice or manner of sale, together with all

limitations of law, in equity, or by statute, on the right of

attachment in the case of secured obligations, are hereby

expressly waived by Debtor to the fullest extent Debtor may

lawfully waive same.

10.  RELEASE OF COLLATERAL.  Upon payment in full by Debtor, in

lawful money of the United States of America, to Secured Party at

the address set forth in the Note of all amounts secured hereby,

and performance of all other obligations of Debtor under this

Security Agreement, together with any interest thereon and any

costs and expenses incurred by Secured Party in the enforcement

of this Security Agreement or of any of Secured Party's rights

hereunder, or in the enforcement of any other agreements (whether

heretofore or hereafter entered into) between Debtor and Secured

Party, or any of the rights of Secured Party thereunder, and upon

the request of Debtor therefor, Secured Party will deliver to

Debtor, at Debtor's sole cost and expense, such termination

statements and such other documents of release, reconveyance and

reassignments as shall be sufficient to discharge Debtor of the

liabilities secured hereby and to terminate and release the

security interest in the Collateral created hereby.

11.  MISCELLANEOUS.

11.1  This Security Agreement and all of the rights and duties in

connection herewith shall be governed by and construed in

accordance with the laws of the State of California.

11.2  This Security Agreement and all of its terms and provisions

shall be binding upon the heirs, successors, transferees and

assigns of each of the parties hereto.

11.3  In the event any portion of this Security Agreement is held

invalid, the remaining portions shall remain in full force and

effect as if that invalid portion had never been a part hereof.

11.4  In the event litigation is commenced to enforce or

interpret this Security Agreement, or any provision hereof, the

prevailing party shall be entitled to recover its actual costs

and attorneys' fees.

11.5  This Security Agreement may be amended only by written

consent of each of the parties hereto.

11.6  Any and all notices, demands, requests, or other

communications required or permitted by this Security Agreement

or by law to be served on, given to, or delivered to any party

hereto by any other party to this Security Agreement shall be in

writing and shall be deemed duly served, given, or delivered when

personally delivered to the party, or in lieu of such personal

delivery, when deposited in the United States mail, first-class

postage prepaid addressed to the party at the address herein

appearing.

11.7  This Security Agreement constitutes the entire security

agreement between the parties pertaining to the subject matter

contained herein and supercedes all prior and contemporaneous

agreements, representations and understandings of the parties.

No waiver of any of the provisions of this Security Agreement

shall be deemed, or shall constitute a waiver of any other

provision, whether or not similar, nor shall any waiver

constitute a continuing waiver.  No waiver shall be binding

unless executed in writing by the party making the waiver.

11.8  This Security Agreement may be executed simultaneously in

one or more counterparts, each of which shall be deemed an

original, but all of which together shall constitute one and the

same instrument.  The exhibits attached hereto are made a part

hereof and incorporated herein.

11.9  Nothing in this Security Agreement, whether express or

implied, is intended to confer any rights or remedies under or by

reason of this Security Agreement on any persons other than the

parties to it and their respective successors and assigns, nor is

anything in this Security Agreement intended to relieve or

discharge the obligations or liability of any third persons to

any party to this Security Agreement, nor shall any provision

give any third person any right of subrogation or action against

any party to this Security Agreement.

11.10  Each party's obligations under this Security

Agreement is unique.  If any party should default in its

obligations under this Security Agreement, the parties each

acknowledge that it would be extremely impracticable to measure

the resulting damages; accordingly, the nondefaulting party, in

addition any other available rights or remedies, may sue in

equity for specific performance without the necessity of posting

a bond or other security, and the parties each expressly waive

the defense that a remedy in damages will be adequate.

11.11  All representations, warranties and agreements of the

parties contained in this Security Agreement, or in any

instrument, certificate, opinion or other writing provided for in

it, shall survive the completion of all acts contemplated herein.

11.12  Whenever the context of this Security Agreement requires,

the masculine gender includes the feminine or neuter gender, and

the singular number includes the plural.

11.13  As used herein, the word "days" shall refer to calendar

day, including holidays, weekends, non-business days, etc.

11.14  The captions contained herein do not constitute part of

this Security Agreement and are used solely for convenience and

shall in no way be used to construe, modify, limit otherwise

affect this Security Agreement.

IN WITNESS WHEREOF, this Security Agreement is executed on March

31, 2000 at San Pedro, California.

Debtor:

Electronic Transactions & Technologies

By: /s/  Thomas S. Hughes

Thomas S. Hughes, President

/s/  Thomas S. Hughes

Thomas S. Hughes, an individual

Secured Party:

eConnect

By: /s/  Thomas S. Hughes

Thomas S. Hughes, President

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