Document:

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                                                                   Exhibit 10.33

                            RENEWAL PROMISSORY NOTE
                            -----------------------

$10,000,000.00
                                                                  April 17, 200l
                                                          Camden County, Georgia

     FOR VALUE RECEIVED, the undersigned, REGENERATION TECHNOLOGIES, INC. (the
"Borrower"), a Delaware corporation, hereby promises to pay to the order of BANK
OF AMERICA, N.A. (the "Bank"), whose address is 9000 Southside Blvd., Bldg.
100, Jacksonville, Florida 32256, the principal sum of Ten Million and 00/100
Dollars ($10,000,000.00), or so much of the principal hereof as may be
outstanding from time to time, together with interest on the outstanding
principal balance hereof at the rate provided herein. This Note shall be
governed by the following provisions:

     1. Loan Agreement. The Borrower and the Bank have executed a Loan Agreement
        --------------
(as amended or restated from time to time, the "Loan Agreement") of even date
herewith. The loan evidenced by this Note is a revolving loan, and the Borrower
may borrow, repay and reborrow principal amounts during the term hereof subject
to the terms contained herein and in the Loan Agreement. Notwithstanding the
foregoing, the outstanding principal balance hereof shall not exceed
$10,000,000 at any one time (or such lesser amount as may be set forth in the
Loan Agreement). This Note is the Note described in the Loan Agreement.

     2. Payments.
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          (a) The Borrower shall pay all accrued interest hereunder on the 24th
     day of each calendar month commencing on April 24, 2001, and continuing on
     the 24th day of each calendar month thereafter.

          (b) The Borrower shall pay all outstanding principal hereunder,
     together with all then accrued and unpaid interest, immediately upon the
     expiration or termination of the Revolving Period (as defined in the Loan
     Agreement).

     3. Interest.
        --------

          (a) Interest shall initially accrue on the outstanding principal
     balance of this Note at the Adjusted Libor Rate (as defined herein) in
     effect on the date of this Note. The rate of interest shall be adjusted on
     each Interest Rate Adjustment Date (as defined herein) so that interest
     shall accrue at the Adjusted Libor Rate for the Interest Period (as defined
     herein) commencing on such Interest Rate Adjustment Date. For purposes of
     this paragraph, the following terms shall have the following meanings:

               (i) "Adjusted Libor Rate" for each Interest Period shall mean a
          rate that is equal to the applicable Libor Rate plus the Applicable
          Margin (as defined herein). The Libor Rate for each Interest Period
          shall mean the offered rate for

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THIS NOTE RENEWS AND MODIFIES THAT CERTAIN PROMISSORY NOTE DATED SEPTEMBER 24,
1999, EXECUTED BY THE BORROWER IN FAVOR OF THE BANK IN THE PRINCIPAL AMOUNT OF
$6,000,000.
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          deposits in United States dollars in the London Interbank market for a
          one month period which appears on the Libor Rate Reference Page (as
          defined herein) as of 11:00 a.m. (London time) on the day that is two
          London Banking Days (as defined herein) preceding the first Banking
          Business Day (as defined herein) of the Interest Period. If at least
          two such offered rates appear on the Libor Rate Reference Page, the
          rate will be the arithmetic mean of such offered rates. The Bank may,
          in its discretion, use rate quotations for daily periods in lieu of
          quotations for substantially equivalent monthly periods.

               (ii) The "Applicable Margin" shall be determined as follows:

                    (aa) The Applicable Margin shall be 2.0% per annum from the
               date hereof through March 31, 2002.

                    (bb) The Applicable Margin shall be adjusted on April 1,
               2002, and on each July 1, October 1, January 1 and April 1
               thereafter (each such date, including April 1, 2002, a "Margin
               Adjustment Date") based upon Borrower's Debt Ratio (as defined in
               the Loan Agreement) as of the calendar quarter end immediately
               preceding each Margin Adjustment Date. The Applicable Margin
               shall be adjusted on each Margin Adjustment Date to: (1) 2.5% per
               annum if the Borrower's Debt Ratio as of the calendar quarter end
               immediately preceding the Margin Adjustment Date exceeds 2.5 to
               1; (2) 2.25% per annum if the Borrower's Debt Ratio as of the
               calendar quarter end immediately preceding the Margin Adjustment
               Date is greater than 2.0 to 1 but equal to or less than to 2.5 to
               1; (3) 2.0% per annum if the Borrower's Debt Ratio as of the
               calendar quarter end immediately preceding the Margin Adjustment
               Date is greater than 1.5 to 1 but equal to or less than to 2.0 to
               1; (4) 1.75% per annum if the Borrower's Debt Ratio as of the
               calendar quarter end immediately preceding the Margin Adjustment
               Date is greater than 1.0 to 1 but equal to or less than to 1.5 to
               1 or (5) 1.5% per annum if the Borrower's Debt Ratio as of the
               calendar quarter end immediately preceding the Margin Adjustment
               Date is equal to or less than 1.0 to 1. The Applicable Margin, as
               adjusted on each Margin Adjustment Date, shall continue in effect
               until adjusted on a subsequent Margin Adjustment Date.

               (iii) "Banking Business Day" shall mean each day other than a
          Saturday, a Sunday or any holiday on which commercial banks in
          Jacksonville, Florida are closed for business.

               (iv) "Interest Period shall mean: (aa) an initial period
          commencing on the date hereof and continuing through April 23, 2001;
          and (bb) each period thereafter commencing on each Interest Rate
          Adjustment Date and continuing through the day immediately preceding
          the next Interest Rate Adjustment Date.

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               (v) "Interest Rate Adjustment Date" shall mean the 24th day of
          April, 2001, and the 24th day of each calendar month thereafter.

               (vi) "Libor Rate Reference Page" shall mean any of the following
          reference pages or sources (as selected from time to time by the Bank
          in its discretion): (aa) the Reuters Screen LIBO Page; (bb) the Dow
          Jones Telerate Page 3750; or (cc) such other index or source as the
          Bank may in its sole discretion select showing rates offered for
          United States dollar deposits in the London Interbank market.

               (vii) "London Banking Day" shall mean each day other than a
          Saturday, a Sunday or any holiday on which commercial banks in London,
          England are closed for business.

          (b) Interest shall be calculated on the basis of a 360 day year (based
     upon the actual number of days elapsed).

          (c) The total liability of the Borrower and any endorsers or
     guarantors hereof for payment of interest shall not exceed any limitations
     imposed on the payment of interest by applicable usury laws. If any
     interest is received or charged by any holder hereof in excess of that
     amount, the Borrower shall be entitled to an immediate refund of the
     excess.

          (d) Upon the occurrence of an Event of Default hereunder, interest
     shall accrue at the Default Rate hereinafter set forth notwithstanding the
     provisions of this section.

     4. Prepayment. The Borrower shall be entitled to prepay this Note in whole
        ----------
or in part at any time without penalty.

     5. Application of Payments. All payments hereunder shall be applied first
        -----------------------
to the Bank's costs and expenses, then to fees authorized hereunder or under the
Loan Agreement, then to interest and then to principal.

     6. Default. An Event of Default shall be deemed to have occurred hereunder
        -------
upon the occurrence of an Event of Default under the Loan Agreement. If any
Event of Default or any Default (as defined in the Loan Agreement) shall occur,
any obligation of the Bank to make advances hereunder shall be terminated
without notice to the Borrower. In addition, if any Event of Default shall
occur, the Bank may declare, in the manner set forth in the Loan Agreement, the
outstanding principal of this Note, all accrued and unpaid interest hereunder
and all other amounts payable under this Note to be forthwith due and payable.
Thereupon, the outstanding principal of this Note, all such interest and all
such amounts shall become and be forthwith due and payable, without presentment,
demand, protest or further notice of any kind, all of which are hereby expressly
waived by the Borrower. Upon the occurrence of any Event of Default, the
outstanding principal of this Note, and any accrued and unpaid interest, shall
bear interest at a

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rate of either four percent (4.0%) per annum above the Prime Rate after default
until paid or, if such rate is usurious under the laws of Florida, then at the
highest legal rate permissible thereunder (the "Default Rate"). For purposes
hereof, the "Prime Rate" shall mean the rate of interest announced from time to
time by the Bank (or any successor thereto) as its prime rate. The Default Rate
shall change on each day that the Prime Rate changes.

     7. Expenses. All parties liable for the payment of this Note agree to pay
        --------
the Bank all costs incurred by it in connection with the collection of this
Note. Such costs include, without limitation, fees for the services of counsel
and legal assistants employed to collect this Note, whether or not suit be
brought, and whether incurred in connection with collection, trial, appeal or
otherwise. All such parties further agree to indemnify and hold the Bank
harmless against liability for the payment of state documentary stamp taxes,
intangible taxes or other taxes (including interest and penalties, if any),
excluding income or service taxes of the Bank, which may be determined to be
payable with respect to this transaction.

     8. Late Charge. If any scheduled payment hereunder is 15 or more days late,
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the Borrowee; shall pay a fee equal to 4% of the unpaid portion of the scheduled
payment. The fee is not a penalty, but liquidated damages to defray
administrative and related expenses due to such late payment. They shall be
immediately due and payable and shall be paid by the Borrower to the Bank
without notice or demand. This provision for a fee is not and shall not be
deemed a grace period, and Bank has no obligation to accept a late payment.
Further, the acceptance of a rate payment shall not constitute a waiver of any
default then existing or thereafter arising under this Note.

     9. Setoffs. The Borrower expressly grants to the Bank a continuing first
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lien security interest in any and all money, general or specific deposits, or
property of the Borrower now or hereafter in the possession of the Bank. The
Borrower authorizes and empowers the Bank, in its sole discretion, at any time
after the occurrence of an Event of Default hereunder to appropriate and, in
such order as the Bank may elect, apply any such money, deposits or property to
the payment hereof or to the payment of any and all indebtedness, liabilities
and obligations of such parties to the Bank, whether now existing or hereafter
created or arising or now owned or howsoever after acquired by the Bank (whether
such indebtedness, liabilities and obligations are or will be joint or several,
direct or indirect, absolute or contingent, liquidated or unliquidated, matured
or unmatured, including, but not limited to, any letter of credit issued by the
Bank for the account of the Borrower).

     10. Auto Debit. The Borrower hereby authorizes the Bank to automatically
         ----------
deduct the amount of any payment due hereunder from any of the Borrower's
accounts now or hereafter maintained with the Bank (including, without
limitation, account number 0003660439144). If the funds in such account are
insufficient to cover and payment, the Bank shall not be obligated to
advance funds to cover the payment.

     11. Miscellaneous. The Borrower and all sureties, endorsers and guarantors
         -------------
of this Note shall make all payments hereunder in lawful money of the United
States at the Bank's address set forth herein or at such other place as the Bank
may designate in writing. The

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remedies of the Bank as provided herein shall be cumulative and concurrent, and
may be pursued singly, successively or together, at the sole discretion of the
Bank and may be exercised as often as occasion therefor shall arise. No act of
omission or commission of the Bank, including specifically any failure to
exercise any right, remedy or recourse, shall be effective, unless set forth in
a written document executed by the Bank and then only to the extent specifically
recited therein. A waiver or release with reference to one event shall not be
construed as continuing, as a bar to, or as a waiver or release of any
subsequent right, remedy or recourse as to any subsequent event. This Note shall
be construed and enforced in accordance with Florida law and shall be binding on
the successors and assigns of the parties hereto. The term "Bank" as used herein
shall mean any holder of this Note. The Borrower and all sureties, endorsers and
guarantors of this Note hereby: (i) waive demand, notice of demand, presentment
for payment, notice of nonpayment or dishonor, protest, notice of protest and
all other notice, filing of suit and diligence in collecting this Note, or in
the Bank's enforcing any of its rights under any guaranties securing the
repayment hereof; (ii) agree to any substitution, addition or release of any
collateral or any party or person primarily or secondarily liable hereon; (iii)
agree that the Bank shall not be required first to institute any suit, or to
exhaust his, their or its remedies against the Borrower or any other person or
party to become liable hereunder, or against any collateral in order to enforce
payment of this Note; (iv) consent to any extension, rearrangement, renewal or
postponement of time of payment of this Note and to any other indulgency with
respect hereto without notice, consent or consideration to any of them; and (v)
agree that, notwithstanding the occurrence of any of the foregoing (except with
the express written release by the Bank of any such person), they shall be and
remain jointly and severally, directly and primarily, liable for all sums due
under this Note.

     12. NOTICE OF FINAL AGREEMENT. THIS WRITTEN PROMISSORY NOTE REPRESENTS THE
         -------------------------
FINAL AGREEMENT BETWEEN THE PARTIES AND MAY NOT BE CONTRADICTED BY EVIDENCE OF
PRIOR, CONTEMPORANEOUS, OR SUBSEQUENT ORAL AGREEMENTS OR UNDERSTANDINGS OF THE
PARTIES. THERE ARE NO UNWRITTEN ORAL AGREEMENTS BETWEEN THE PARTIES.

                                              REGENERATION TECHNOLOGIES, INC.

                                              By: /s/ Richard R. Allen
                                                 -------------------------------
                                                 Its:   CFO/Secretary/Treasurer
                                                     ---------------------------

                                                            (CORPORATE SEAL)

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STATE OF GEORGIA

COUNTY OF CAMDEN

     The foregoing instrument was executed, acknowledge and delivered before me
this 17th day of April, 2001, by RICHARD R. ALLEN, the CFO/SEC/TREAS of
Regeneration Technologies, Inc., on behalf of the corporation, in Camden County,
Georgia.

                                   /s/ Suzanne A. Guay
                                   -------------------------------
                                   Notary Public, State and County
                                    Aforesaid
                                   Print Name: Suzanne A. Guay
                                              ----------------------------------
                                   My commission expires: Notary Public,
                                                          Camden County, Georgia
                                                         -----------------------
                                   My commission number: My Commission Expires
                                                         Aug. 21, 2004
                                                        ------------------------

                                              (NOTARIAL SEAL)

                                       6<PAGE>

                                                                   Exhibit 10.34

                             TAX INDEMNITY AGREEMENT

     This Agreement is made this 17th day of April, 2001, by and between
REGENERATION TECHNOLOGIES, INC. (the "Borrower") and BANK OF AMERICA, N.A. (the
"Bank").

                                    Recitals
                                    --------

     The Bank and the Borrower are executing a Loan Agreement (as amended or
restated from time to time, the "Loan Agreement") of even date herewith. The
Borrower may, pursuant to the Loan Agreement, execute and deliver a Renewal
Promissory Note (the "Note") of even date herewith in the principal amount of
$10,000,000 in favor of the Bank. The Note, together with all other Loan
Documents (as defined in the Loan Agreement), are collectively referred to
herein as the "Credit Documents". The Borrower has indicated that the Credit
Documents are exempt from Florida documentary stamp taxes (collectively, the
"Taxes"). The Borrower is executing this Agreement to induce the Bank to accept
the Credit Documents without payment of such taxes.

     NOW THEREFORE, for good and valuable consideration, the parties agree as
follows:

     1. The Borrower assumes full liability for payment of all Taxes (including
interest and penalties, if any) now or hereafter due with respect to or in
connection with the Credit Documents. The Borrower agrees to indemnify the Bank,
its directors, officers, agents and employees from and against any and all
liability and costs (including, without limitation, reasonable attorneys fees)
that may accrue to or be sustained by the Bank, its directors, officers, agents
or employees in connection with or as a result of: (a) the failure to pay any
Taxes on or in connection with the Credit Documents when due; and (b) any claim
or action filed or brought by or in the name of the State of Florida or any
department or agency thereof (including, without limitation, the Florida
Department of Revenue) with respect to any non-payment of Taxes on or in
connection with the Credit Documents when due.

     2. From and after the date hereof, the Bank agrees that promptly upon
receipt by it of notice of any demand, assertion, claim, action or proceeding,
judicial or otherwise, giving rise to a potential claim for indemnification
under this Agreement, the Bank will give prompt notice thereof in writing to the
Borrower, together in each instance with such information regarding such
proceeding as the Bank shall then have. The Borrower reserves the right to
contest and defend all appropriate legal or other proceedings, any demand,
assertion, claim, action or proceeding with respect to which it has been called
upon to indemnify the Bank under the provisions of this Agreement, provided,
however, that: (a) notice of the intention so to contest shall be delivered to
the Bank within twenty (20) calendar days from the date of receipt by the
Borrower of notice of the assertion of such demand, assertion, claim, action or
proceeding; and (b) the Borrower shall pay all costs and expenses of such
contest, including all attorneys fees.

     3. The Borrower's rights and obligations herein shall continue in full
force and effect notwithstanding the expiration or termination of the Credit
Documents for any reason.
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     4. This Agreement shall be governed by Florida law. No modifications,
amendments or waivers of this Agreement, or any of its provisions, shall be
binding on any party unless evidenced by a written instrument duly executed by
the parties.

         Dated as of the date first set forth above.

                                              BANK OF AMERICA, N.A.

                                              By: /s/ Cynthia M. Stringfield
                                                 -------------------------------
                                                 Its: Asst. Vice President
                                                      --------------------------

                                              REGENERATION TECHNOLOGIES, INC.

                                              By: /s/ Richard R. Allen
                                                 -------------------------------
                                                 Its: CFO/Sec/Treas.
                                                      --------------------------

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