Document:

AMENDED
      MASTER PROMISSORY NOTE

     

    On
      September 1, 2005, OptiCon Systems, Inc. ("OptiCon"), whose address is 12750
      Knoll Trail, Suite #307, Dallas, Texas 75248, entered into an agreement to
      borrow up to $350,000 from Sam Talari, ("Talari"), whose address is 475 Central
      Avenue, Suite B100, St. Petersburg, Florida 33701.

     

    The
      parties to the original agreement wish to amend the terms of the agreement
      as
      follows:

     

    1.
      For
      value received, promises to pay Sam Talari, his successors, heirs or assigns
      ("Talari"), the principal sum of $350,000.00 payable on demand.

     

    2.
      OptiCon shall pay interest at the rate of 5% per annum, in lawful money of
      the
      United States of America, based on amounts advanced by Talari from time to
      time,
      payable annually at such place as may be designated from time to time in writing
      by the Talari.

     

    3.
      OptiCon may prepay this Promissory Note without penalty. Any amounts paid
      hereunder shall be applied first to the payment of any expenses or charges
      payable under the Promissory Note or any related loan document, then to interest
      due and payable, with the balance then applied to principal.

     

    4.
      OptiCon shall pay the cost of any revenue tax or other stamps now or hereafter
      required by law at any time to be affixed to this note.

     

    5.
      Payment shall be by postal delivery at the address of Talari or at any other
      place designated by the holder in writing or by U.S mail, if properly addressed
      and post-marked on or before the date due.

     

    6.
      In the
      event of default in the payment of any of the sums mentioned herein, or in
      the
      performance of any of the agreements contained herein, then the entire principal
      sum shall, at the option of the holder, become immediately due and payable,
      without notice, time being of the essence to this Note; and said principal
      thereon shall bear interest from the time of such default until paid at twelve
      percent (12%). Failure to exercise this option shall not constitute a waiver
      of
      the right to exercise the same in the event of a subsequent
      default.

     

    7.
      Each
      person or entity liable hereunder, either as maker, endorser, or guarantor
      hereby waives presentment, protest, notice, notice of protest and notice of
      dishonor and agrees to pay all costs, including the costs of collection and
      reasonable attorney's tees, including appellate and bankruptcy proceedings,
      in
      the event counsel shall be employed to collect this Promissory
      Note.

     

    8.
      Talari
      has the option to cancel the debt from OptiCon by a convergent right to convert
      any part of the principal and/or interest outstanding into OptiCon’s common
      stock at a 30% discount of the last five (5) days average bid price, once
      OptiCon becomes fully reporting and trading in a national market.

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

     

     

    FOR
      OPTICON SYSTEMS, INC., AS Borrower :

    

    
      
        

      

    

    John
      M.
      Batton, President

    

    

    DATE:
      _______________

    

    APPROVED:

    

    

    
      
        

      

    

    Sam
      TalariUnassociated Document

     

    
      	
               

            	
              THIS
                NOTE HAS NOT BEEN REGISTERED UNDER
                THE SECURITIES ACT OF 1933, AS AMENDED. IT MAY NOT BE SOLD, OFFERED
                FOR
                SALE, PLEDGED OR TRANSFERRED IN THE ABSENCE OF AN EFFECTIVE REGISTRATION
                STATEMENT AS TO THE SECURITIES UNDER SAID ACT OR AN OPINION OF COUNSEL
                SATISFACTORY TO THE CORPORATION THAT SUCH REGISTRATION IS NOT
                REQUIRED. 

            	 

    

     

     

    GIFTED
      TIME HOLDINGS LIMITED

     

    PROMISSORY
      NOTE

     

     

    
      	$[___________] 	
              December
                __, 2006

            
	 	
              [___________________],
                British Virgin
                Islands 

            

    

     

     

    FOR
      VALUE
      RECEIVED, GIFTED
      TIME HOLDINGS LIMITED,
      a
      British Virgin Islands company (“Company”),
      promises to pay to [______________] (“Investor”),
      or
      its registered assigns, in lawful money of the United States of America the
      principal sum of _________________ ($__________), or such lesser amount as
      shall
      equal the outstanding principal amount hereof, together with interest from
      the
      date of this Note on the unpaid principal balance at a rate equal to ten percent
      (10.0%) per annum, computed on the basis of the actual number of days elapsed
      and a year of 360 days. 

     

    The
      Principal indebtedness evidenced hereby and all other amounts outstanding
      hereunder shall be due and payable as follows: (i) the principal amount of
      $_______ together with any then unpaid and accrued interest thereon and other
      amounts payable hereunder, shall be due and payable on the earlier to occur
      of
      (a) ten business days following the closing of acquisition of the shares of
      the Company by HLS Systems International Ltd. (the “Business Combination”), (b)
      the Tranche B Maturity Date (as defined below), or (c) when, upon or after
      the occurrence of an Event of Default (as defined below), such amounts are
      declared due and payable by Investor or made automatically due and payable
      in
      accordance with the terms hereof; and (ii) the remaining $__________ of
      principal, plus all accrued and unpaid interest thereon, and all other amounts
      due hereunder, shall be due and payable on (a) the date (the “Tranche B Maturity
      Date”) that is the earliest of (1) one year following the date that HLS Systems
      International Ltd. (“HLS”) acquires all or substantially all of the shares of
      Company, (2) 60 days following the redemption (as provided in the warrant
      agreement) of the publicly traded warrants assumed by HLS concurrently with
      the
      closing of the Business Combination in substitution for the warrants issued
      by
      Chardan North China Acquisition Corporation, or (3) 18 months following the
      date
      that the agreement(s) governing the closing of the Business Combination
      terminate without a closing of the Business Combination, or (b) when, upon
      or
      after the occurrence of an Event of Default, such amounts are declared due
      and
      payable by Investor or made automatically due and payable in accordance with
      the
      terms hereof. To the extent required to do so, Company shall cause its
      subsidiaries to dividend to Company amounts sufficient to satisfy in full all
      monetary obligations due hereunder.

     

     

    
      
         

      

      
        1

        
          

        

      

      
         

      

    

     

    If
      any
      payment of interest or any other amount owing to Investor by Company as provided
      herein is not made within ten days after the due date, Company shall pay
      Investor a late payment fee equal to the lesser of five percent (5.0%) of the
      amount of such late payment or the maximum amount permitted by applicable law.
      After the occurrence and during the continuance of an Event of Default, the
      Obligations shall bear interest at a rate equal to twelve percent (12.0%) per
      annum.

     

    This
      Note
      is one of the “Notes” issued pursuant to the Purchase Agreement of even date
      herewith (as amended, modified or supplemented, the “Purchase
      Agreement”)
      between Company and the Investors (as defined in the Purchase
      Agreement).

     

    The
      following is a statement of the rights of Investor and the conditions to which
      this Note is subject, and to which Investor, by the acceptance of this Note,
      agrees:

     

    1. Definitions.
      As used
      in this Note, the following capitalized terms have the following
      meanings:

     

    (a) “Act”
shall
      mean the Securities Act of 1933, as amended.

     

    (b) “Company”
      includes the corporation initially executing this Note and any Person which
      shall succeed to or assume the obligations of Company under this
      Note.

     

    (c) “Event
      of Default”
has
      the
      meaning given in Section
      3
      hereof.

     

    (d) “Guaranty
      and Pledge Agreement”
shall
      mean the Guaranty and Pledge Agreement of even date herewith executed by
      [____________] in favor of the Investors (as defined in the Purchase Agreement),
      as amended, modified or otherwise supplemented from time to time.

     

    (e) “Investor”
shall
      mean the Person specified in the introductory paragraph of this Note or any
      Person who shall at the time be the registered Investor of this
      Note.

     

    (f) “Investor
      Notes”
shall
      mean all Notes issued pursuant to the Note Purchase Agreement and all notes
      issued in substitution thereof.

     

    (g) “Lien”
shall
      mean, with respect to any property, any security interest, mortgage, pledge,
      lien, claim, charge or other encumbrance in, of, or on such property or the
      income therefrom, including, without limitation, the interest of a vendor or
      lessor under a conditional sale agreement, capital lease or other title
      retention agreement, or any agreement to provide any of the foregoing, and
      the
      filing of any financing statement or similar instrument under the Uniform
      Commercial Code or comparable law of any jurisdiction.

     

    (h) “Majority
      in Interest”
shall
      mean holders of more than half of the aggregate current outstanding principal
      amount of the Investor Notes.

     

    (i) “Material
      Adverse Effect”
shall
      mean a material adverse effect on (a) the business, assets, operations,
      prospects or financial or other condition of Company; (b) the ability of Company
      to pay or perform the Obligations in accordance with the terms of this Note
      and
      the other Transaction Documents and to avoid an Event of Default, or an event
      which, with the giving of notice or the passage of time or both, would
      constitute an Event of Default, under any Transaction Document; or (c) the
      rights and remedies of Investor under this Note, the other Transaction Documents
      or any related document, instrument or agreement.

     

     

    
      
         

      

      
        2

        
          

        

      

      
         

      

    

     

    (j) “Purchase
      Agreement”
has
      the
      meaning given in the introductory paragraph hereof.

     

    (k) “Obligations”
shall
      mean and include all loans, advances, debts, liabilities and obligations,
      howsoever arising, owed by Company to Investor of every kind and description
      (whether or not evidenced by any note or instrument and whether or not for
      the
      payment of money), now existing or hereafter arising under or pursuant to the
      terms of this Note, the Purchase Agreement and the other Transaction Documents,
      including, all interest, fees, charges, expenses, attorneys’ fees and costs and
      accountants’ fees and costs chargeable to and payable by Company hereunder and
      thereunder, in each case, whether direct or indirect, absolute or contingent,
      due or to become due, and whether or not arising after the commencement of
      a
      proceeding under Title 11 of the United States Code (11 U. S. C.
      Section 101 et seq.),
      as
      amended from time to time (including post-petition interest) and whether or
      not
      allowed or allowable as a claim in any such proceeding.

     

    (l) “Person”
shall
      mean and include an individual, a partnership, a corporation (including a
      business trust), a joint stock company, a limited liability company, an
      unincorporated association, a joint venture or other entity or a governmental
      authority.

     

    (m) “Pro
      Rata Share”
shall
      mean when calculating an Investor’s portion of any distribution or amount, that
      distribution or amount (expressed as a percentage) equal to a fraction (i)
      the
      numerator of which is the current outstanding principal amount of the Note
      and
      (ii) the denominator of which is the current aggregate outstanding principal
      amount of all Investor Notes.

     

    (n) “Transaction
      Documents”
shall
      mean this Note, each of the other Investor Notes, the Note Purchase Agreement
      and the Guaranty and Pledge Agreement.

     

    2. Prepayment.
      This
      Note may be prepaid. Any prepayment shall be accompanied by all accrued and
      unpaid interest to the date of prepayment. Any prepayment shall be credited
      against and reduce the next amounts otherwise due hereunder.

     

    3. Events
      of Default.
      The
      occurrence of any of the following shall constitute an “Event of Default” under
      this Note and the other Transaction Documents:

     

    (a) Company
      shall fail to pay any principal of or interest on this Note or any other
      monetary Obligations within ten days after the date due;

     

    (b) Company
      shall fail to comply with any other provision of this Note or any other
      Transaction Document, which failure is not cured within fifteen days after
      notice from Investor to Company that such failure has occurred;

     

     

    
      
         

      

      
        3

        
          

        

      

      
         

      

    

     

    (c) any
      warranty, representation, statement, report or certificate made or delivered
      to
      Investor by Company or on Company’s behalf shall be untrue or misleading in a
      material respect as of the date given or made;

     

    (d) there
      shall be a change in the record or beneficial ownership of an aggregate of
      more
      than 30% of the outstanding shares of stock of Company, in one or more
      transactions, compared to the ownership of outstanding shares of stock of
      Company in effect on the date hereof, except for the closing of the Business
      Combination or changes that have the prior written consent of
      Investor;

     

    (e) a
      default
      or event of default shall occur under any agreement to which Company is a party
      resulting in a right by such party, whether or not exercised, to accelerate
      the
      maturity of any indebtedness and such acceleration would have a Material Adverse
      Effect;

     

    (f) dissolution,
      termination of existence, or insolvency of Company; or Company fails to meet
      its
      debts as they mature; or appointment of a receiver, trustee or custodian, for
      all or any material part of the property of, assignment for the benefit of
      creditors by, or the commencement of any proceeding by or against Company under
      any reorganization, bankruptcy, insolvency, arrangement, readjustment of debt,
      dissolution or liquidation law or statute of any jurisdiction, now or in the
      future in effect (except that, in the case of a proceeding commenced against
      Company, Company shall have 45 days after the date such proceeding was commenced
      to have it dismissed); or

     

    (g) the
      occurrence of a Material Adverse Effect.

     

    4. Rights
      of Investor upon Default.
      Upon
      the occurrence or existence of any Event of Default (other than an Event of
      Default referred to in Section
      3(f))
      and at
      any time thereafter during the continuance of such Event of Default, Investor
      may, with the consent of a Majority in Interest, by written notice to Company,
      declare all outstanding Obligations payable by Company hereunder to be
      immediately due and payable without presentment, demand, protest or any other
      notice of any kind, all of which are hereby expressly waived. Upon the
      occurrence or existence of any Event of Default described in Section
      3(f),
      immediately and without notice, all outstanding Obligations payable by Company
      hereunder shall automatically become immediately due and payable, without
      presentment, demand, protest or any other notice of any kind, all of which
      are
      hereby expressly waived. In addition to the foregoing remedies, upon the
      occurrence or existence of any Event of Default and subject to the consent
      of a
      Majority in Interest, Investor may exercise any other right power or remedy
      granted to it by the Transaction Documents or otherwise permitted to it by
      law,
      either by suit in equity or by action at law, or both.

     

    5. Successors
      and Assigns.
      Subject
      to the restrictions on transfer described in Sections
      7 and
      8
      below,
      the rights and obligations of Company and Investor of this Note shall be binding
      upon and benefit the successors, assigns, heirs, administrators and transferees
      of the parties.

     

    6. Waiver
      and Amendment.
      Any
      provision of this Note may be amended, waived or modified upon the written
      consent of Company and Investors constituting a Majority in
      Interest.

     

     

    
      
         

      

      
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    7. Transfer
      of this Note.
      With
      respect to any offer, sale or other disposition of this Note, Investor will
      give
      written notice to Company prior thereto, describing briefly the manner thereof,
      together with a written opinion of Investor’s counsel, or other evidence if
      reasonably satisfactory to the Company, to the effect that such offer, sale
      or
      other distribution may be effected without registration or qualification (under
      any applicable law then in effect). Upon receiving such written notice and
      reasonably satisfactory opinion, if so requested, or other evidence, Company,
      as
      promptly as practicable, shall notify Investor that Investor may sell or
      otherwise dispose of this Note, all in accordance with the terms of the notice
      delivered to Company. If a determination has been made pursuant to this
Section 7
      that the
      opinion of counsel for Investor, or other evidence, is not reasonably
      satisfactory to Company, Company shall so notify Investor promptly after such
      determination has been made. Each Note thus transferred shall bear a legend
      as
      to the applicable restrictions on transferability in order to ensure compliance
      with the Act, unless in the opinion of counsel for Company such legend is not
      required in order to ensure compliance with the Act. Company may issue stop
      transfer instructions to its transfer agent in connection with such
      restrictions. Subject to the foregoing, transfers of this Note shall be
      registered upon registration books maintained for such purpose by or on behalf
      of Company. Prior to presentation of this Note for registration of transfer,
      Company shall treat the registered Investor hereof as the owner and Investor
      of
      this Note for the purpose of receiving all payments of principal and interest
      hereon and for all other purposes whatsoever, whether or not this Note shall
      be
      overdue and Company shall not be affected by notice to the
      contrary.

     

    8. Assignment
      by Company.
      Neither
      this Note nor any of the rights, interests or obligations hereunder may be
      assigned, by operation of law or otherwise, in whole or in part, by Company
      without the prior written consent of Investor.

     

    9. Notices.
      All
      notices, requests, demands, consents, instructions or other communications
      required or permitted hereunder shall in writing and faxed, mailed or delivered
      to each party at the respective addresses of the parties as set forth in the
      Purchase Agreement, or (with respect to Company) at such other address or
      facsimile number as Company shall have furnished to Investor in writing. All
      such notices and communications shall be effective (a) when sent by Federal
      Express or other overnight service of recognized standing, on the business
      day
      following the deposit with such service; (b) when mailed, by international
      and
      air mail postage prepaid and addressed as aforesaid upon receipt; (c) when
      delivered by hand, upon delivery; and (d) when faxed or sent by email, upon
      confirmation of receipt.

     

    10. Pari
      Passu Notes.
      Investor acknowledges and agrees that the payment of all or any portion of
      the
      outstanding principal amount of this Note and all interest hereon shall be
      pari
      passu in
      right
      of payment and in all other respects to the other Investor Notes or pursuant
      to
      the terms of such Notes. In the event Investor receives payments in excess
      of
      its Pro Rata Share of Company’s aggregate concurrent payments to the Investors
      of all of the Investor Notes, then Investor shall hold in trust all such excess
      payments for the benefit of the Investors of the other Notes and shall pay
      such
      amounts held in trust to such other Investors upon demand by such
      Investors.

     

    
      
         

      

      
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    11. Usury.
      In the
      event any interest is paid on this Note which is deemed to be in excess of
      the
      then legal maximum rate, then that portion of the interest payment representing
      an amount in excess of the then legal maximum rate shall be deemed a payment
      of
      principal and applied against the principal of this Note.

     

    12. Waivers.
      Company
      hereby waives notice of default, presentment or demand for payment, protest
      or
      notice of nonpayment or dishonor and all other notices or demands relative
      to
      this instrument.

     

    13. Governing
      Law; Jurisdiction; Venue.
      This
      Note and all acts and transactions hereunder and all rights and obligations
      of
      the Investor and Company shall be governed by the internal laws (and not the
      conflict of laws rules) of the British Virgin Islands. Company (a) agrees
      that all actions and proceedings relating directly or indirectly to this
      Agreement shall, at the Investors’ option, be litigated in courts located within
      the British Virgin Islands; (b) consents to the jurisdiction and venue of
      any such court and consents to service of process in any such action or
      proceeding by personal delivery or any other method permitted by law; and
      (c) waives any and all rights Company may have to object to the
      jurisdiction of any such court, or to transfer or change the venue of any such
      action or proceeding.

     

    IN
      WITNESS WHEREOF,
      Company
      has caused this Note to be issued as of the date first written
      above.

     

    

     

    GIFTED
      TIME HOLDINGS LIMITED

    a
      British
      Virgin Islands company

    

     

    By:
      ________________________________

    Name:
      ______________________________

    Title:
      _______________________________

     

    

    
      
         

      

      
        6

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