Document:

PROMISSORY NOTE

UNICO, INCORPORATED                                         Phoenix, Arizona
$165,000.00                                                  April 1, 2003

     FOR VALUE RECEIVED, UNICO, INCORPORATED promises to pay in lawful money
of the United States, to KAIBAB INDUSTRIES, INC., an Arizona corporation, or
order, at P.O. Box 52111, Phoenix, Arizona 85072, or at such other place as
may be designated by the holder of this note, the principal sum of $165,000
payable in twenty-four (24) monthly installments of principal only in the
amount of TWO THOUSAND DOLLARS ($2,000.00) each, commencing on April 1, 2003,
and continuing on the first day of each month thereafter for 24 months.  The
entire unpaid principal balance shall be all due and payable on April 1, 2005.

     In the event of default in the payment of any of the installments, as
herein provided, time being of the essence hereof, the holder of this Note
may, without notice or demand, declare the entire principal sum, then unpaid,
together with the accrued interest thereon, immediately due and payable and
said sum shall bear interest from the date of default at the rate of ten
percent (10%) per annum.

     Advance payments or other additional payments may be made on this Note at
any time.  Each payment shall be applied, first to the payment of accrued
interest, and second, to the payment of principal.

     Should suit be brought to recover on this Note, the maker promises to pay
in addition to the amount of principal and interest unpaid, all costs and
expenses of collection including a reasonable amount as and for attorney's
fees.

     This Note is secured by a Security Agreement dated April 1, 2003 between
Kaibab Industries, Inc. and the undersigned (the "Security Agreement").
Reference is made to the Security Agreement for a description of the nature
and extent of the security of the holder of this Note upon default.

     The maker and any endorser or guarantor of this Note waive valuation and
appraisement, presentment for payment, demand, protest, notice of non-payment,
dishonor or protest, and any other notices and demands whatsoever.  No renewal
or extension of this Note, no release of collateral securing payment of this
Note, and no delay in the enforcement of this Note or in exercising any right
or power of the payee shall affect the liability of the maker.

     This Note shall be governed by and construed in accordance with the laws
of the State of Arizona.

UNICO, CORPORATION,
an Arizona corporation

     /s/ Ray C. Brown
By:  _________________________

     CEO
Its: __________________________SECURITY AGREEMENT

     UNICO, INCORPORATED,  an Arizona corporation ("Debtor"), whose address is
P. O. Box 777, Magalia, CA 95954, hereby grants to Kaibab Industries, Inc., an
Arizona corporation ("Secured Party"), whose address is 4602 E. Thomas Road,
Phoenix, AZ  85018, a security interest in the following property of Debtor
(hereinafter called the "Collateral"):

     All of the following property, now owned or hereafter acquired:

     All of Debtor's equipment and rolling stock set forth on Exhibit "A"
     attached hereto; all proceeds of insurance policies on the Collateral,
     additions, accessions, replacements and substitutions for all such
     Collateral; and books and records of Debtor with respect to such
     Collateral,

to secure the payment and performance of the obligations of Debtor to Secured
Party (hereinafter called "Obligations") set forth in that certain Equipment
Purchase Agreement dated April 1, 2003 by and between Debtor and Secured Party
(the "Purchase Agreement"), including but not limited to the payment of a
Promissory Note dated April 1, 2003 in the initial principal amount of
$165,000.00, a copy of which is attached as Exhibit "B" hereto, and all
renewals, extensions and replacements of the Promissory Note.

     Debtor represents and warrants that the Collateral will at all times be
located at one or more of the locations of Debtor listed on Exhibit "C"
attached hereto.  Debtor shall not move the Collateral without ten (10) days
prior written notice to Secured Party.

     Debtor shall pay and discharge all taxes, assessments and charges or
levies against the Collateral prior to delinquency thereof, shall keep the
Collateral free of all unpaid taxes, assessments and charges, and shall
maintain the Collateral in good order and repair.

     Debtor shall have and maintain insurance at all times with respect to all
Collateral against such risks, with such carrier and in such amounts as
Secured Party may require.  Such insurance shall be payable to Secured Party
and to Debtor as their interests may appear and shall not be subject to
cancellation or reduction in coverage without thirty (30) days prior written
notice to Secured Party.  Debtor shall supply evidence of such insurance to
Secured Party upon request.

     Debtor shall not sell, encumber or otherwise voluntarily or involuntarily
transfer or dispose of the Collateral or any portion thereof or create, permit
or suffer any encumbrance thereon without the prior written consent of the
Secured Party.

Secured Party shall have, during regular business hours, with or without
notice, the right to enter into and upon any premises where any of the
Collateral or records with respect thereto are located for the purpose of
inspecting the same, observing the use of any part of the Collateral,
protecting Secured Party's security interest in the Collateral, or otherwise
determining whether Debtor is in compliance with the terms of this Agreement.

     Debtor shall execute any financing statements or other documents, give
any notices and take any other actions reasonably requested by Secured Party
to perfect, continue the perfection of or protect the priority of the security
interest granted under this Agreement.  Debtor agrees that, at Secured Party's
option, this Agreement, or a photocopy hereof, may be filed by Secured Party
as a financing statement, and that Debtor's execution hereof shall constitute
the execution by Debtor of a financing statement.

     Debtor shall be in default under this Agreement upon the happening of any
of the following events:

     1.     Debtor fails to pay or perform when due any of its Obligations
            under this Agreement and fails to cure such nonpayment or non
            performance within 30 days of the date of written notice or such
            default from Secured Party.

     2.     All or any portion of the Collateral is seized or levied upon by
            writ of attachment, garnishment, execution or otherwise, and such
            seizure or levy is not released within five (5) days thereof;

     3.     Debtor executes a general assignment for the benefit of its
            creditors, ceases to conduct its business in the ordinary course
            as it is now conducted, convenes any meeting of its creditors,
            becomes insolvent, admits in writing its insolvency or inability
            to pay its debts, or is unable to pay or is generally not paying
            its debts as they become due;

     4.     A receiver, trustee, custodian or agent is appointed to take
            possession of all or any portion of the Collateral or all or any
            substantial portion of Debtor's assets;

     5.     Any case or proceeding is voluntarily commenced by Debtor under
            any provision of the Federal Bankruptcy Code or any other federal
            or state law relating to debtor rehabilitation, insolvency,
            bankruptcy, liquidation or reorganization, or any such case or
            proceeding is involuntarily commenced against Debtor; or

     6.     An Event of Default occurs under the Purchase Agreement.

     Upon such default, Secured Party may at its option declare all
Obligations to be immediately due and payable.  Secured Party shall have the
remedies of a secured party under the applicable Uniform Commercial Code and
may require Debtor to assemble the Collateral and turn it over to Secured
Party at a place designated by Secured Party.  Debtor shall reimburse Secured
Party for all costs and reasonable attorney's fees incurred by Secured Party
in pursuing any remedies, which costs and fees are also Obligations secured
hereunder.

     No delay or omission by the Secured Party to exercise any right or remedy
relating to Debtor accruing upon any Event of Default shall (i) impair any
such right, or any other right or remedy, (ii) be construed to be a waiver of
any such default or any acquiescence therein, or (iii) affect any subsequent
default of the same or of a different nature.  Secured Party has no obligation
to attempt to satisfy the Obligations by collecting them in any particular
order from Debtor or other persons liable for them and Secured Party may
release, modify or waive any collateral provided by any person (including
Debtor) to secure any of the Obligations, all without affecting Secured
Party's rights against Debtor.  Compliance with any applicable state or
federal law requirements shall not adversely affect the commercial
reasonableness of any sale of the Collateral.

     This Security Agreement binds and inures to the benefit of the respective
heirs, successors, administrators, executors and assigns of the parties.  Any
holder of the Promissory Note shall be deemed to be a Secured Party for the
purposes hereof.  Neither Debtor nor any of its successors shall have the
right to assign their obligations hereunder without the prior written consent
of Secured Party.

     Dated this 1st day of April, 2003

                              UNICO, INCORPORATED

                                    /s/ Ray C. Brown
                              By:  _________________________

                                      CEO
                              Its: _________________________PROMISSORY NOTE

                                                         Salt Lake City, Utah
$350,000.00                                                 Date: June __, 2002

     FOR VALUE RECEIVED, the undersigned, UNICO, INCORPORATED, an Arizona
corporation, and Silver Bell Mining Company, Incorporated, a Utah corporation
(hereinafter collectively "Makers"), jointly and severally promise to pay to
the order of J. Bruce Hirschberg, an individual, at 16 Shore View Drive, East
Orleans, Massachusetts 02643 (hereinafter "Payee"), the principal sum of Three
Hundred Fifty Thousand Dollars ($350,000.00) in lawful money of the United
States of America, together with interest thereon at the rate of ten percent
(10.0%) per annum until paid in full.

     Accrued interest shall be paid on a monthly basis on or before the 15th
day of each month commencing in July 2002.

     The entire principal balance together with any accrued unpaid interest
(if any) shall be paid on or before the fifth (5th) anniversary date of this
Promissory Note in June 2007.

     The Makers of this Promissory Note shall have the privilege, without
penalty or premium, of paying in advance the entire principal or any portion
thereof.

     In the event that any portion of principal or interest is not paid when
due, it shall thereafter bear interest at the rate of ten percent (10.0%) per
annum, both before and after judgment, until paid in full.  In the event of
default on any payment herein provided for, then without notice, presentment
or demand, the entire principal sum hereof together with any accrued interest
thereon shall, at the option of the holder of this Promissory Note, become due
and payable immediately.  Failure to delay in exercising its option shall not
constitute a waiver of any such breach or default nor waiver of the holder's
right to exercise said option upon any subsequent breach or default.

     The undersigned hereby expressly waive all statutes of limitation
affecting the enforceability of this Promissory Note, and agree to pay all
reasonable attorneys fees and costs incurred in collection of payments due, or
in the enforcement of any right or remedy hereunder.  The Makers, assumers,
endorsers, sureties, and guarantors of this Promissory Note consent to all
renewals, indulgences, extensions, and all releases of security granted or
permitted by the owner or holder without notice.

     This Promissory Note is secured by a Trust Deed encumbering all of the
patented mining claims owned by Silver Bell Mining Company, Incorporated
located in the American Fork Mining District, Utah County, State of Utah.

                            MAKERS:

                            UNICO, INCORPORATED, an Arizona
                            corporation

                               /s/ Ray C. Brown
                            By:______________________________
                               Ray C. Brown, Chief Executive
                               Officer

                            SILVER BELL MINING COMPANY,
                            INCORPORATED, A Utah corporation

                            /s/ Dan Proctor
                         By:______________________________
                            Dan Proctor, President

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