Document:

Exhibit 10.14

           SECURITY INTEREST SUBORDINATION AND SUBROGATION AGREEMENT

THIS SECURITY INTEREST SUBORDINATION AND SUBROGATION AGREEMENT (the
"Agreement") is entered into on this 7th day of February, 2003, by and between
Statmon Technologies, Corp., a Nevada corporation located at 345 N. Maple Drive,
Suite 120, Beverly Hills, California, 90210 ("Statmon"), John C. Hoff, an
individual residing at 4002 Hunt Club Court, Agora Hills, CA 91301 ("Hoff"),
Thieme Consulting, Inc., 1370 Avenue of the Americas, New York, New York, 10019
("Thieme Consulting") and Harris Corporation, a Delaware corporation, with an
office located at 4393 Digital Way, Mason, Ohio 45040 ("Harris"). Hoff and
Thieme Consulting are occasionally referred to individually or collectively as
"Holder" or "Holders."

                                    RECITALS

            A. WHEREAS, Statmon is the obligor pursuant to a Promissory Note
between Statmon and Hoff dated September 8, 2000 (the "Hoff Note") which was
executed contemporaneously with a Note Purchase and Shareholder Rights Agreement
and a Trademark Security Agreement (collectively, the "Hoff Note Agreements");

           B. WHEREAS, Statmon is the obligor pursuant to three Promissory Notes
between Statmon and Thieme Consulting Inc. dated November 7, 2001, The Global
Opportunity Fund dated November 7. 2001 and Veinvest dated November 6, 2001
(collectively the "Thieme Consulting Note") which were executed
contemporaneously with a Pledge and Security Agreement dated October 12, 2001
(collectively, the " Thieme Consulting Note Agreements");

            C. WHEREAS, the original maturity date of both the Hoff Note and the
Thieme Consulting Notes are concurrently being extended;

            D. WHEREAS, each of the Hoff Note Agreements and the Thieme
Consulting Note Agreements contain provisions which secure the Hoff Note and the
Thieme Consulting Note with all or part of the assets of Statmon including, but
not limited to, the intellectual property of Statmon.

            E. WHEREAS, Statmon and Harris are presently negotiating an
agreement for Purchase and Sale of Remote Monitoring Products ("Harris
Agreement") which, as a key provision of such agreement, contains an exclusive
right to sell and license within the broadcast industry certain Exclusive
Products and Software and to use other of the Licensed Materials (as defined in
the Harris Agreement) developed by Statmon (herein collectively "Intellectual
Property"); and

            F. WHEREAS, to the extent hereinbelow set forth, the Holders of the
Hoff Note and the Thieme Note for themselves and any successors and assigns have
each agreed to subrogate any security interest provided for by the Hoff Note
Agreements and/or the Thieme Note Agreements or otherwise granted to the
Holders, respectively, to the interests of Harris in such Intellectual Property
under the Harris Agreement for the purposes of facilitating the transaction by
and between Statmon and Harris.

Statmon Security Interest Subordination 020503
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            NOW, THEREFORE, in consideration of the premises and mutual
covenants set forth, and other good and valuable consideration, the receipt and
sufficiency of which is hereby acknowledged, the parties hereby agree as
follows:

                                    AGREEMENT

            1. HOFF SUBORDINATION AND SUBROGATION. So long as the Harris
Agreement has not been terminated by Statmon for a breach of obligations by
Harris or is not otherwise terminated or expired pursuant to Section 6 of this
Agreement, any and all security interests in the assets of Statmon which are
held by John Hoff as Holder pursuant to the Hoff Note and the Hoff Note
Agreements is hereby subrogated to the rights of Harris solely to the extent to
exclusively market and resell Statmon Exclusive Products and sublicense the
Software and use other of the Licensed Materials in the broadcast industry, such
that Harris would be able to continue to do so despite any foreclosure or
exercise of any other right or remedy by John Hoff and/or his successors and
assigns. No provision of this Agreement shall be interpreted to give any party
the right to prevent John Hoff as Holder from foreclosing on its security
interest in the assets of Statmon, provided that Harris is allowed to continue
to market and resell Statmon Exclusive Products and license the Software and use
other Licensed Materials in the broadcast industry to the extent provided in the
Harris Agreement.

            2. THIEME CONSULTING SUBORDINATION AND SUBROGATION. So long as the
Harris Agreement has not been terminated by Statmon for a breach of obligations
by Harris or is not otherwise terminated or expired pursuant to Section 6 of
this Agreement, any and all security interests in the assets of Statmon which
are held by Thieme Consulting as Holder pursuant to the Thieme Consulting Note
and the Thieme Consulting Note Agreements is hereby subrogated to the rights of
Harris solely to the extent to allow Harris to exclusively market and resell
Statmon Exclusive Products and sublicense the Software and use the other of the
Licensed Materials in the broadcast industry, such that Harris would be able to
continue to do so despite any foreclosure or exercise of any other right or
remedy by Thieme Consulting and/or its successors and assigns. Notwithstanding
anything in this agreement to the contrary, no provision of this Agreement shall
be interpreted to give any party the right to prevent Thieme Consulting as
Holder from foreclosing on its security interest in the assets of Statmon,
provided that Harris is allowed to continue to market and resell Statmon
Exclusive Products and license the Software and use other Licensed Materials in
the broadcast industry to the extent provided in the Harris Agreement.

            3. LEGEND TO ACCOMPANY NOTES.  Concurrently with the execution of
this Agreement, each of John Hoff and Thieme Consulting shall execute an
amendment to the Hoff Note Agreements and the Thieme Consulting Agreements,
respectively, substantially in the form set forth in Attachment "A". Such
amendment shall include a legend which indicates that any security interest
granted by each Note Agreement is subject to the subrogation rights solely to
the extent granted by this Agreement.

            4. FILING OF UCC-3. Harris Corporation shall be permitted to file a
form UCC-3 reflecting such subordination and subrogation for each UCC-1 filing
made by each of Hoff and Thieme Consulting and each of the Holders hereby
authorizes such filings (or of similar statements or instruments under the law
of any jurisdiction, and amendments thereto), without the Holders signature.

Statmon Security Interest Subordination 020503
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            5. NOTICE TO HARRIS OF FORECLOSURE. Each of Hoff and Thieme
individually agree to provide Harris with simultaneous notice of any default
notices or notice of foreclosure sate or strict foreclosure (accepting
collateral in satisfaction of debt) related to their respective Notes. Notice
shall be given to both Russ Reed and Nancy Ucros, Esq., at Harris Corporation,
4393 Digital Way, Mason, Ohio 45040, and by facsimile to both recipients at
(513) 701-5317.

            6. DEFAULT / TERMINATION OF SUBROGATION.

                  a. DEFAULT. In the event the Harris Agreement has been
terminated by Statmon pursuant to Section 24.2 of the Harris Agreement, the
subrogation and subordination rights contemplated by this Agreement shall cease
immediately upon notice of such termination by Statmon to each respective
Holder, with a copy to Harris. Should the termination be held to be improper
after the parties have submitted the dispute in accordance with the terms of
Article 40 of the Harris Agreement, then each respective Holder shall execute
whatever documents are necessary to reinstate the subrogation and subordination
rights granted hereunder.

                  b. TERMINATION. In addition to other provisions hereof
relating to termination, the subordination and subrogation rights granted
pursuant to this Agreement shall terminate immediately upon either party's
termination pursuant to sections 24.1 and Harris' termination pursuant to 24.3
of the Harris Agreement. Moreover, the subordination and subrogation rights
granted pursuant to this Agreement shall also terminate immediately upon Harris
termination for cause pursuant to section 24,2 unless Harris continues to
distribute the Software and has not exercised its option to purchase the
intellectual property rights in the Software as set forth in section
38.2(c)(iii)(a) or (b) of the Harris Agreement and one of the following is true:

                        (1) Harris is continuing to make payments to Statmon of
Software license fees which shall be at a reasonable market price as of the date
of termination for the Software licenses it distributes; or at Harris' option,

                        (2) until such time as the outstanding balance of the
Notes have been paid off, Harris makes payments to each of the two Holders
respectively of half of Software license fees which shall be at a reasonable
market price as of the date of termination  (which would have otherwise been
paid to Statmon under (1) above). In the event Harris chooses to make such
payments to the two Holders, Statmon hereby waives any rights that it might
otherwise have to receive such amounts and Harris shall be relieved from its
obligations to make such payments to Statmon.

                        In addition, Harris shall receive a credit in the amount
of the aggregate Software license fees paid pursuant to paragraphs (1) and (2)
above, to be applied toward the purchase price of the intellectual property
rights in the Software as set forth in section 38.2(c)(iii)(a) or (b) of the
Harris Agreement.

Statmon Security Interest Subordination 020503
<PAGE>

                  c. EXPIRATION. The subordination and subrogation rights
granted pursuant to this Agreement shall terminate immediately upon expiration
of the Term of the Harris Agreement

            7. MISCELLANEOUS.

                  a. APPLICABLE LAW AND VENUE. This Agreement shall be construed
in accordance with, and any dispute arising in connection shall be governed by,
the laws of the State of California. Any suit, action or proceeding with respect
to this Agreement shall be brought only in Los Angeles County in the State of
California. The parties hereto hereby irrevocably waive, to the fullest extent
permitted by law, any objection that any of them may now or hereafter have to
the laying of venue of any action or proceeding rising out of or relating to
this Agreement brought in Los Angeles County, California, as well as any
argument that such proceeding has been brought in an inconvenient forum.

                  b. ASSIGNMENT. Except for an assignment or delegation that may
occur or be deemed to have occurred as a result of a merger, sale of assets or
other business combination in which the surviving party specifically assumes the
obligation of the other, no right, interest or obligation in this Agreement
shall be assigned or delegated without the consent of Harris and Statmon.
Notwithstanding the foregoing, nothing herein shall prevent either Holder from
assigning, transferring or selling their Note to another holder (the "New
Holder"), so long as this Agreement is also assigned to the New Holder, and such
New Holder agrees to assume all obligations hereunder.

                  c. SECTION HEADINGS. The heading of the Sections are inserted
for reference only and are not intended to be part of nor affect the meaning or
interpretation of this Agreement.

                  d. SEVERABILITY. If any term of this Agreement or portion of
any term of this Agreement is held as invalid or unenforceable, the remainder
shall not be affected, and each term and provision shall be valid and enforced
to the fullest extent permitted by law.

                  e. WAIVER. A waiver by either party of any of the terms and
conditions or covenants to be performed by the other shall not be construed to
be a waiver of any succeeding breach, nor of any other term, condition or
covenant contained in this Agreement.

                  f. ARBITRATION. Any dispute arising under this Agreement shall
first be submitted to mediation and then, if the matter has still not been
resolved, shall be resolved through binding arbitration in accordance with the
rules of the American Arbitration Association.

                  g. ATTORNEYS" FEES. If it becomes necessary to bring suit to
enforce any provision of this Agreement, the prevailing party shall be entitled
to its reasonable attorneys' fees and costs of suit.

                  h. ENTIRE AGREEMENT. This Agreement contains the entire
understanding between the parties and may not be altered, varied, revised or
amended except by as agreed in writing by both parties and signed by both
parties.

Statmon Security Interest Subordination 02050

<PAGE>

DATE: January _, 2003                           JOHN C. HOFF

                                                --------------------------------

DATE: January_, 2003                            HEIKO THIEME, for
                                                THIEME CONSULTING, Inc.
                                                GLOBAL OPPORTUNITIES
                                                FUND LTD. & VENINVEST

                                                --------------------------------
                                                By:

                                                --------------------------------
                                                Its:

DATE: January_, 2003                            STATMON TECHNOLOGIES, INC.

                                                /s/ [illegible]
                                                --------------------------------
                                                By:

                                                CEO
                                                --------------------------------
                                                Its:

DATE: January _, 2003                           HARRIS CORPORATION

                                                /s/ [illegible]
                                                --------------------------------
                                                By:

                                                VP Studio products & Syst
                                                --------------------------------
                                                Its:

Statmon Security Interest Subordination 02050
<PAGE>

DATE: February 7, 2003                          JOHN C. HOFF
                                                /S/ JOHN C. HOFF
                                                --------------------------------

DATE: January_, 2003                            HEIKO THIEME, for
                                                THIEME CONSULTING, Inc.
                                                GLOBAL OPPORTUNITIES
                                                FUND LTD. & VENINVEST

                                                --------------------------------
                                                By:

                                                --------------------------------
                                                Its:

DATE: February 7, 2003                          STATMON TECHNOLOGIES, INC.

                                                /s/ [illegible]
                                                --------------------------------
                                                By:

                                                CEO
                                                --------------------------------
                                                Its:

DATE: January _, 2003                           HARRIS CORPORATION

                                                --------------------------------
                                                By:

                                                --------------------------------
                                                Its:

Statmon Security Interest Subordination 02050
<PAGE>

DATE: February _,2003                           JOHN C. HOFF

                                                --------------------------------

DATE: February 7, 2003                          HEIKO THIEME, for
                                                THIEME CONSULTING, Inc.
                                                GLOBAL OPPORTUNITIES
                                                FUND LTD. & VENINVEST

                                                /s/ [Illegible}
                                                --------------------------------

DATE: February 7, 2003                          STATMON TECHNOLOGIES, INC.

                                                --------------------------------
                                                By:

                                                --------------------------------
                                                Its:

DATE: February 7, 2003                          HARRIS CORPORATION

                                                --------------------------------
                                                By:

                                                --------------------------------
                                                Its:

Statmon Security Interest Subordination 02050

<PAGE>
                                 ATTACHMENT "A"

                                 Form of Legend

                     AMENDMENT TO [SECURED] PROMISSORY NOTE

The following Amendment dated February 7, 2003, amends the Promissory Note dated
September 8, 2000 by and between Statmon Technologies Company and John C. Hoff
to include the following Legend as the first page of the Note, as well as any
ancillary agreements executed in conjunction with such Note:

 "THE SECURITY INTERESTS GRANTED TO SECURE THE ATTACHED PROMISSORY NOTE HAVE
HEREBY BEEN SUBROGATED TO THE RIGHTS OF HARRIS CORPORATION PURSUANT TO AND
SOLELY TO THE EXTENT PROVIDED IN THAT CERTAIN AGREEMENT ENTERED INTO BETWEEN THE
NOTE HOLDER, THE PAYEE, AND HARRIS CORPORATION DATED JANUARY _, 2003. ANY
ASSIGNMENT, SALE OR TRANSFER OF THIS NOTE SHALL INCLUDE ALL THE RIGHTS AND
OBLIGATIONS OF THE LIENHOLDER PURSUANT TO SUCH AGREEMENT."

DATE: February 7, 2003                          [HOLDER'S NAME] John C. Hoff

                                                /S/ JOHN C. HOFF
                                                --------------------------------
                                                By:

                                                --------------------------------
                                                Its:

DATE: January _,2003                            STATMON TECHNOLOGIES, INC.

                                                /S/ [Illegible]
                                                --------------------------------
                                                By:

                                                CEO
                                                --------------------------------
                                                Its:

 Statmon Security Interest Subordination 020503,

<PAGE>
                                 ATTACHMENT "A"

                                 Form of Legend

                     AMENDMENT TO [SECURED] PROMISSORY NOTE

The following Amendment dated February 7, 2003, amends The Promissory Note dated
____________ by and between Statmon Technologies Company and [John C.
Hoff/Global Opportunity Fund Limited, c/o Thieme Consulting, Inc.] to include
the following Legend as the first page of the Note, as wall as any ancillary
agreements executed in conjunction with such Note.

"THE SECURITY INTERESTS GRANTED TO SECURE THE ATTACHED PROMISSORY NOTE HAVE
HEREBY BEEN SUBROGATED TO THE RIGHTS OF HARRIS CORPORATION PURSUANT TO AND
SOLELY TO THE EXTENT PROVIDED IN THAT CERTAIN AGREEMENT ENTERED INTO BETWEEN THE
NOTE HOLDER, THE PAYEE, AND HARRIS CORPORATION DATED FEBRUARY 7, 2003. ANY
ASSIGNMENT, SALE OR TRANSFER OF THIS NOTE SHALL INCLUDE ALL THE RIGHTS Am
OBLIGATIONS OF THE LIENHOLDER PURSUANT TO SUCH AGREEMENT."

DATE: February 7, 2003                          /s/ [illegible]

                                                --------------------------------
                                                HEIKO THIEME for THIEME
                                                CONSULTING, INC.,GLOBAL
                                                OPPORTUNITY FUND LTD, &
                                                VENINVEST

DATE: February 7, 2003                          STATMON TECHNOLOGIES, CORP.,

                                                --------------------------------
                                                By:

                                                --------------------------------
                                                Its:Exhibit 10.15

                                 PROMISSORY NOTE

$15,000                                                         DECEMBER 2, 2002

        FOR VALUE RECEIVED,  THE UNDERSIGNED  ("MAKER"),  PROMISES TO PAY TO THE
ORDER OF L&F SILVERMAN,  THEIR SUCCESSORS AND ASSIGNS  ("PAYEE"),  AT OR AT SUCH
OTHER  PLACE AS PAYEE MAY FROM TIME TO TIME  DESIGNATE,  IN LAWFUL  MONEY OF THE
UNITED  STATES  OF  AMERICA,  THE  PRINCIPAL  SUM OF  FIFTEEN  THOUSAND  DOLLARS
($15,000),  OR SUCH LESSER AMOUNT THAT MAY BE OUTSTANDING  PURSUANT TO THE TERMS
OF THIS  PROMISSORY  NOTE (THE  "NOTE"),  TOGETHER  WITH  INTEREST ON THE UNPAID
PRINCIPAL  BALANCE  HEREOF  FROM TIME TO TIME  OUTSTANDING,  UNTIL  MATURITY  AS
PROVIDED BELOW.

      1.    OBLIGATION. THE INDEBTEDNESS EVIDENCED BY THIS PROMISSORY NOTE.

      2.    INTEREST.  The outstanding principal balance of this Note shall bear
            interest  at the rate of ten  percent  (10%) per annum from the date
            hereof until the Maturity Date (as hereinafter  defined),  but in no
            event  shall  such  interest  exceed  the  Highest  Lawful  Rate (as
            hereinafter  defined).  Interest is capitalized  and due and payable
            upon expiry of this  Promissory  Note.  Any payments of principal or
            interest  that  become  past due shall bear  interest at the Highest
            Lawful Rate. Interest on this Note shall be computed on the basis of
            the number of actual days elapsed in a year consisting of 365 days.

      3.    PAYMENTS.  All amounts  owing  hereunder,  including all accrued and
            unpaid interest and the outstanding principal amount hereof shall be
            due and payable ONE HUNDRED AND EIGHTY  (180) DAYS from the date the
            cleared  funds are received at the Maker's  business  account at the
            Bank of America  branch  located at 8655 Beverly  Blvd,  Los Angeles
            California 90048.

      4.    PREPAYMENTS. Maker shall have the right to pay, in whole or in part,
            the  principal of this Note at any time without  premium or penalty.
            Any payment will first be applied to any  expenses,  then to accrued
            interest, and thereafter to principal.

      5.    TIME OF  ESSENCE.  Time is of the  essence  with  respect  to all of
            Maker's obligations and agreements under this Note.

      6.    EVENTS OF DEFAULT.  Each of the following shall constitute an "Event
            of Default" under this Note:

            (a)   The  failure,  refusal or neglect of Maker to pay when due any
                  part of the principal of, or interest on, this Note after such
                  payment has become due and payable; or

            (b)   Maker fails to perform any  covenant  or  agreement  contained
                  herein,  other than the payment of principal of or interest on
                  this Note after such payment

<PAGE>

                  has become due and payable,  within ten (10) days after having
                  received written notice of such failure from Payee; or

            (c)   If Maker (i) becomes  insolvent,  or makes a transfer in fraud
                  of  creditors,  or  makes an  assignment  for the  benefit  of
                  creditors, or admits in writing its inability to pay its debts
                  as they become due, (ii)  generally is not paying its debts as
                  such  debts  become  due,  (iii) has a receiver  or  custodian
                  appointed for, or a receiver or custodian takes possession of,
                  all or substantially all of its assets, either in a proceeding
                  brought by it or in a proceeding  brought against it, and such
                  appointment  is  not  discharged  or  such  possession  is not
                  terminated  within thirty (30) days after the  effective  date
                  thereof,  or if it consents or acquiesces in such  appointment
                  or  possession,  (iv)  files a petition  for relief  under the
                  United States  Bankruptcy  Code or any other present or future
                  federal or state  insolvency,  bankruptcy or similar laws (all
                  of the foregoing  hereinafter  collectively called "Applicable
                  Bankruptcy  Law") or an  involuntary  petition  for  relief is
                  filed against it under any Applicable  Bankruptcy Law and such
                  involuntary  petition is not dismissed within thirty (30) days
                  after the filing thereof,  or an order for relief naming it is
                  entered   under  any   Applicable   Bankruptcy   Law,  or  any
                  composition, rearrangement, extension, reorganization or other
                  relief of debtors now or  hereafter  existing is  requested or
                  consented  to by it,  (v)  fails to have  discharged  within a
                  period of thirty (30) days any  attachment,  sequestration  or
                  similar writ levied upon any of its property, or (vi) fails to
                  pay within thirty (30) days any final money  judgment  against
                  it.

Nothing contained in this Note shall be construed to limit the Events of Default
enumerated hereinabove and all such Events of Default shall be cumulative.

      7.    Remedies.  Maker  agrees  that upon the  occurrence  of any Event of
            Default, the holder of this Note may, at its option, without further
            notice or demand,  (a) declare the outstanding  principal balance of
            and  accrued  but  unpaid  interest  on this  Note  at once  due and
            payable, (b) pursue any and all other rights, remedies and recourses
            available to the holder hereof,  including,  but not limited to, any
            such  rights,  remedies or  recourses,  at law or in equity,  or (c)
            pursue any combination of the foregoing.  ALL RIGHTS AND REMEDIES OF
            SUCH HOLDER SHALL BE CUMULATIVE  AND THE HOLDER SHALL BE ENTITLED TO
            ALL THE RIGHTS OF A HOLDER IN DUE COURSE OF A NEGOTIABLE INSTRUMENT.

      8.    Issuance of Additional  Three (3) Year  Warrants to Purchase  Common
            Stock. In the event the Company has not paid OBLIGATIONS  UNDER THIS
            NOTE on the  Maturity  Date,  the  Company  shall  thereafter  issue
            penalty  warrants in the  aggregate of 2,500 Three Year (3) Warrants
            to  purchase  shares of its  common  stock  $.00001  par value at an
            exercise  price of $1.00 per share,  to the holders of the Defaulted
            Note during each

                                       2
<PAGE>

            calendar  month or portion  thereof  during  which such  obligations
            remain unpaid in full. SUCH  ADDITIONAL  WARRANTS SHALL BE MADE ON A
            PRO RATA BASIS BASED UPON THE AMOUNT OF THE THEN UNPAID  OBLIGATIONS
            WITH  RESPECT TO EACH OF THE  DEFAULTED  NOTE.  THE  FOREGOING IS IN
            ADDITION  TO ANY AND ALL  RIGHTS  THAT  THE  HOLDER  OF THE NOTE MAY
            OTHERWISE HAVE AGAINST THE COMPANY.

      9.    No  Waiver.  No delay on the part of Payee or other  holder  of this
            Note in the  exercise of any power or right  under this Note,  shall
            operate as a waiver hereof,  nor shall a single or partial  exercise
            of any power or right preclude other or further  exercise thereof or
            the exercise of any other power or right.  Enforcement by the holder
            of this Note for the payment hereof shall not constitute an election
            by such holder of remedies  so as to  preclude  the  exercise of any
            other remedy available to such holder.

      10.   Waiver.  Except as otherwise  expressly set forth herein,  Maker and
            all endorsers,  sureties,  and guarantors  hereof hereby jointly and
            severally  waive all exemption  rights under any applicable law, and
            also waive  presentment for payment,  demand,  notice of nonpayment,
            valuation,  appraisement,   protest,  demand,  dishonor,  notice  of
            protest, notice of intent to accelerate, notice of acceleration, and
            all other notices,  and without further notice hereby consent to all
            renewals,  extensions,  or partial  payments  either before or after
            maturity.

      11.   Severability.  The  invalidity,  or  unenforceability  in particular
            circumstances, of any provision of this Note shall not extend beyond
            such provision or such  circumstances and no other provision of this
            Note shall be affected thereby.

      12.   Highest Lawful Rate. It is expressly stipulated and agreed to be the
            intent of Maker and Payee at all times to comply with the applicable
            state  and  federal  law  governing  the  maximum  rate or amount of
            interest  payable on or in connection  with this Note (or applicable
            United  States  federal law to the extent  that it permits  Payee to
            contract for, charge,  take,  reserve or receive a greater amount of
            interest  than  under  state  law).  If the  applicable  law is ever
            judicially  interpreted so as to make the amount of interest  exceed
            any  applicable  law or  regulation,  or render  usurious any amount
            called for under this  Note,  or  contracted  for,  charged,  taken,
            reserved or received with respect to the  indebtedness  evidenced by
            this Note (the "Loan"),  or if  acceleration of the maturity of this
            Note or if any  prepayment by Maker results in Maker having paid any
            interest in excess of that  permitted by law, then it is Maker's and
            Payee's express intent that all excess amounts theretofore collected
            by Payee be credited on the  principal  balance of this Note (or, if
            this Note has been or would  thereby  be paid in full,  refunded  to
            Maker),  and the  provisions  of this Note and the other  Agreements
            immediately   be  deemed   reformed   and  the  amounts   thereafter
            collectible hereunder and thereunder reduced,  without the necessity
            of the execution of any new  document,  so as to permit the recovery
            of the fullest  amount called for hereunder  and  thereunder,  while
            complying in all respects with applicable law. The right to

                                        3
<PAGE>

            accelerate  the  maturity of this Note does not include the right to
            accelerate  any interest that has not otherwise  accrued on the date
            of such  acceleration,  and Payee  does not  intend to  collect  any
            unearned  interest  in the event of  acceleration.  All sums paid or
            agreed to be paid to Payee for the use,  forbearance or detention of
            the Loan  shall,  to the extent  permitted  by  applicable  law,  be
            amortized,  prorated,  allocated and spread throughout the full term
            of the Loan  until  payment  in full so that the rate or  amount  of
            interest on account of the Loan does not exceed the applicable usury
            ceiling.  Notwithstanding any provision contained in this Note or in
            any  of  the  other  Agreements  that  permits  the  compounding  of
            interest, including without limitation any provision by which any of
            the accrued  interest is added to the principal amount of this Note,
            the total  amount of  interest  that Maker is  obligated  to pay and
            Payee is  entitled  to receive  with  respect to this Note shall not
            exceed  the  amount  calculated  on a simple (i.e.,  non-compounded)
            interest  basis at the  Highest  Lawful  Rate on  principal  amounts
            actually  advanced  to or for the  account of Maker,  including  the
            initial principal amount of this Note and any advances made pursuant
            to  any  of the  Agreements  (such  as for  the  payment  of  taxes,
            insurance  premiums and the like). As used herein, the term "Highest
            Lawful  Rate" shall mean the maximum  non-usurious  rate of interest
            which may be lawfully  contracted for, charged,  taken,  reserved or
            received by Payee from Maker in  connection  with the Loan under the
            applicable  state law (or  applicable  United States federal law, to
            the extent that it permits  Payee to  contract  for,  charge,  take,
            reserve or receive a greater  amount of  interest  than under  state
            law).

      13.   Notices.  All  notices or demands  required or  permitted  hereunder
            shall be in writing  and shall be  delivered  personally  or sent by
            registered or certified mail, postage prepaid:

If to the Payee:

Mr. & Mrs. L Silverman
1036 Acanto Place
Los Angeles, CA 90049

      If to the Maker:

            Statmon Technologies Corp
            345 N Maple Drive
            Suite 120
            Los Angeles, CA 90210
            Telephone: 310-288-4582
            Fax: 310-288-4381

                                        4
<PAGE>

      14.   Governing Law and Exclusive  Venue.  This Note shall be construed in
            accordance with and governed by the laws of the State of California.
            The Payee,  by acceptance  hereof,  and Maker hereby agree any legal
            action in connection  with this Note shall be instituted only in the
            courts of California.

      15.   Successors  and Assigns.  The provisions of this Note are binding on
            the  assigns  and  successors  of the Maker  and shall  inure to the
            benefit  of the  holder  hereof  and such  holder's  successors  and
            assigns.

      16.   Headings. The headings of the sections of this Note are inserted for
            convenience  only and  shall  not be  deemed  to  constitute  a part
            hereof.

                                       5
<PAGE>

      IN WITNESS WHEREOF, the undersigned has executed this Note to be effective
as of the date first written above.

                                    STATMON TECHNOLOGIES CORP.

                                    By:
                                        -------------------------------

                                    Name:
                                          -----------------------------

                                    Title:
                                           ----------------------------

                                        6

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