Document:

Exhibit 10(a)

    
      

    

    10(a)

    

    

    Neither
      the (Convertible Promissory Note represented by this document ( "Note")
nor
      the
      shares of common stock which may be acquired upon its conversion been
registered
      under the Securities Act of 1933 ("The Act") and they fall within the definition
      of "restricted securities" as that term is defined the Rule 144 under the Act.
      In addition to the
      restrictions on transferability of the Note contained herein, neither the Note
      nor the shares
      of
      common stock which may be acquired upon conversion may be offered for sale,
      sold,
      or
      otherwise transferred except pursuant to an effective Registration Statement
      under the Act or pursuant to an exemption from registration under the Act,
      the
      availability of which is to be established to the satisfaction of the
      Company."

    

    DURAVEST,
      INC.

    CONVERTIBLE
      SECURED PROMISSORY NOTE

    

    
      	
              $650,000.00

            	
              September
                27, 2006

            

    

     

    FOR
      VALUE RECEIVED,
      DURAVEST,
      INC., a Florida corporation ("Company") promises
      to pay to ABSOLUTE RETURN EUROPE FUND LTD. ("Holder"), the principal sum of
      Six
      Hundred and Fifty Thousand Dollars and no cents ($650,000.00) payable in legal
      tender of the United States of America or in shares of common stock of
the
      Company (the "Common Stock") as provided herein on the dates and as hereinafter
      specified with the principal to bear simple interest at the rate per annum
      set
      forth below during
      the term hereof through the Maturity Date defined below and similarly payable
      as
hereinafter
      specified.

    

    The
      principal of the Note shall be due and payable, together with any then unpaid
      interest on September 27, 2007 (the "Maturity Date"). Simple interest shall
      accrue on the unpaid
      balance of the principal at the rate set forth below from the date of this
      Note
      through the Maturity Date and shall accrue and be
      payable
      in either (i) shares of Common Stock at a fifteen percent (15%) annual interest
      rate or (ii) cash or additional
      promissory notes as set forth herein at a ten percent (10%) annual interest
      rate
on
      or as
      soon as practicable following the Maturity Date.

     

    
                 
        No
        provision of the Note shall alter or impair the obligation of the Company,
        which
        is absolute and unconditional, to pay the principal of and interest on this
        Note
        at the time, at the rate and in the currency or shares of Common Stock herein
        prescribed. Interest on this Note shall be payable as soon as practicable
        following the Maturity Date in, at the option of the Company in its sole
        discretion, either (i) a number of shares of Common Stock calculated as follows:
        (A) the interest rate of this Note equal to fifteen percent (15%)
        multiplied by the outstanding principal amount of this Note divided by (B)
        the
        Current Market Price (as defined below) on the Maturity Date; or (ii) the
        interest rate of this Note equal to ten percent (10%) multiplied by the
        outstanding principal amount of this Note payable at the Company's option
        in its
        sole discretion in either cash or an additional convertible promissory note
        having one-year term and otherwise terms substantially similar to those
        contained herein.

    

     

    
      
        
        

      

      
        1

        
          

        

      

      
        
        

      

    

    For
      purposes of this
      Note
      the following terms shall have the meanings set forth below:

    

    "Current
      Market Price" means, in respect of any share of Common Stock on any date herein
      specified, the average of the daily market prices for twenty (20) consecutive
      Trading Days immediately preceding such date. The daily market price for each
      such Trading
      Day shall be (i) the last sale price on such day on the principal stock exchange
      on which
      such Common Stock is then listed or admitted to trading, (ii) if no sale takes
      place on such day on any such exchange, the average of the last reported closing
      bid and asked prices
      on
      such day as officially quoted on any such exchange, (iii) if the Common Stock
      is
      not
      then listed or admitted to trading on any stock exchange, the average of the
      last reported closing bid and asked prices on such day in the over-the-counter
      market, as furnished by the National Association of Securities Dealers Automatic
      Quotation System or the National Quotation Bureau, Tnc., (iv) if neither such
      corporation at the time is engaged in the business of reporting such prices,
      as
      furnished by any similar firm then engaged in such business, or (v) if there
      is
      no such firm, as furnished by any member of the NASD selected mutually by the
      holder of this Note and the Company or, if they cannot agree upon such
      selection, as selected by two such members of the NASD, one of which shall
      be
      selected by holder of this Note and one of which shall be selected by the
      Company. Notwithstanding the foregoing, for purposes of this Note in no event
      shall the Current
      Market Price be deemed to be greater than $0.70 (subject to adjustments for
      stock splits
      after the date hereof).

    

    "Trading
      Day" means any day on which the primary market on which shares of Common
      Stock are listed is open for trading.

    

    In
      the
      event the Company is unable to repay the outstanding principal amount of this
      Note in cash on the Maturity Date, the Holder of this Note is entitled, at
      the
      Holder's option,
      at any time after the Maturity Date, to convert any or all of the unpaid
      principal of this
      Note
      into a number of shares of Common Stock determined by dividing such outstanding
      principal amount by the Conversion Price. The Conversion Price shall be 80%
      multiplied by the Current Market Price on the date of repayment.

    

    Except
      as
      hereinafter provided,

    

    (a)
      The
      Company shall at all times reserve and keep available, free from preemptive
      rights, out of its authorized but unissued Common Stock or out of its issued
      but
      not
      outstanding Common Stock that is held in its treasury, for the purpose of
      effecting the
      conversion of this Note the full number of shares of Common Stock then
      deliverable upon
      the
      conversion of this Note.

    

    (b)
      The
      Company covenants that all shares of Common Stock which may be
      delivered
      upon
      conversion of this Note will upon
      delivery be duly issued, fully
      paid and
      non-assesessable.

    

    
      
        
        

      

      
        2

        
          

        

      

      
        
        

      

    

    (c)
      In
      case of any reclassification of the Common Stock, or in case of any consolidation
      on the Company with, or merger of the Company into, another corporation (other
      than a consolidation of merger in which the Company is the continuing
      corporation and
      which
      does not result in a reclassification of the Common Stock), or in case of any
      sale or conveyance to another corporation of the property of the Company as
      an
      entirety or
      substantially as a entirety, the Company shall give written notice thereof
      by
      registered or
      certified mail, and the Holder may exercise the conversion privilege provided
      for in this Note at any time on or before the expiration often days after
      delivery to him of such written
      notice. Such written notice by the Company shall be given, sufficiently in
      advance of
      the
      consummation of the proposed reclassification, consolidation, merger, sale
      or
conveyance
      to enable the conversion privilege to be exercised.

    

    The
      Company may not, without the Holder's consent, prepay any or ail of the
principal
      sum prior to the Maturity Date.

    

    The
      Note
      has not been registered under the Securities Act of 1933 ("the Act") and
      falls with
      the
      definition of "restricted securities" as that term is defined in the Rule 144
      under
      the
      Act Neither the Note nor any interest therein may be offered for sale, sold
      or
otherwise
      transferred except pursuant to an effective Registration Statement under the
      Act
      or
      pursuant to an exemption from registration under the Act, the availability
      of
      which is
      to be
      established to the satisfaction of the Company. Except for the Holder's
      "piggy-back"
      rights hereinafter set forth, the Company is not required to register the Note
      or any shares of Common Stock acquired upon conversion of the Note or to make
      any exemption
      from registration available, accordingly, the Holder must bear the economic
      risk
      of
      his investment for an indefinite period of time.

    

    Any
      and
      all shares of Common Stock received by the Holder upon conversion of the Note,
      shall constitute restricted securities and will have the same limitations and
      restrictions
      upon their salability and transferability as the Note surrendered in the
exchange
      in which the Common Stock was issued unless, at the time of the conversion,
      a
Registration
      Statement filed under the Act of 1933, and applicable Blue Sky laws are in
      effect with respect to the Common Stock being offered in exchange for the Note.
      The Holder
      agrees not to sell or offer to sell or transfer the Note or any interest therein
      except in compliance with all applicable federal and state securities laws
      of
      the United States.

    

    Certificates
      for all shares of Common Stock issued upon conversion of or under the
      Note
      shall bear a legend reading substantially as follows:

    

    "The
      Shares represented by this Certificate are restricted securities which have
      not
been
      registered under the Securities Act of 1933 (the T'Act') or the securities
      laws
      of any state and such shares may not be sold or transferred except upon
      registration under the Act
      and
      applicable state laws or upon, delivery of an opinion of counsel acceptable
      to
      the Corporation
      that registration is not required for such sale or transfer."

    

    Provisions
      with respect to events of default on the Note are as follows:

    

    
      
        
        

      

      
        3

        
          

        

      

      
        
        

      

    

    (a)
      The
      following events are herein called the "Events of Default":

    

    (i)
      Nonpayment of principal or interest on the Note after the same shall become
      due;

    

    (ii)
      The
      occurrence and continuation of an event of default as defined in any loan
or
      similar agreement to which the Company is now or hereafter a party, or any
      other
      event thereunder upon the occurrence of which any holder or holders of
      indebtedness outstanding thereunder may declare the same due and
      payable;

    

    (iii)
      Any
      representation or warranty made by the Company herein is untrue in any material
      respect as of the date of this Note, or any statement, certificate or data
      furnished by
      the
      Company in connection with this Note is untrue in any material respect as of
      the
date
      as
      of which the facts therein set forth are stated or certified, and corrective
      measures satisfactory to the Holder with respect thereto shall not have been
      taken by the Company within
      30
      days after notice thereof to the Company from the Holder; or

    

    (iv)
      Adjudication of the Company as bankrupt or insolvent, or entry of an order,
      remaining unstayed by appeal or otherwise for 45 days, appointing a
      receiver
      or trustee for the Company, or for all or any of its property, or approving
      a
      petition seeking reorganization or other similar laws of me United States of
      America or any state or any other
      competent jurisdiction, or the filing by the Company of a petition seeking
      any
      of the foregoing
      or consenting thereto, or the filing of a petition to take advantage of any
      debtors' act, or making a general assignment for the benefit of creditors,
      or
      admitting in writing
      its inability to pay its debts as they mature;

     

    (b)
      Upon
      the
      occurrence of any one or more of the Events of Default, the Holder may
      forthwith, or at any time thereafter, by notice mailed or delivered to the
      Company, declare
      the unpaid principal of the Note held by it and all interest then accrued
      thereon to be
      due,
      and such principal and interest shall thereupon be immediately due without
      protest,
      demand or other notice;

    

    (c)
      In
      case of any default in the payment of principal or interest on this Note, the
      Company
      will pay such further amounts as shall be sufficient to cover any costs of
      collection,
      including reasonable attorney's fees, incurred by the Holder; and

    

    (d)
      No
      delay or omission of the Holder to exercise any right upon any event of default
      shall impair any such right or shall be construed to be a waiver of any such
      default or
      acquiescence therein.
      No
      waiver
      of
      any
      default hereunder
      shall
      affect any later default or
      shall
      impair any rights of the Holder. No single, partial, or full exercise or any
      right by the
      Holder shall preclude other or further exercise thereof.

    

    
      
        
        

      

      
        4

        
          

        

      

      
        
        

      

    

    The
      Holder of the Note shall have the rights set out in this paragraph to have
      any
      shares of Common Stock acquired on conversion of the Note "piggy-backed" or
      included in
      any
      Registration Statement filed by the Company under the Act for the sale of
Common
      Stock as follows:

    

    a) This
      "piggy-back" right shall exist and be effective for the two-year period
following
      the acquisition of the Common Stock by conversion under the Note and for so
      long
      thereafter as the Holder is deemed to be an "affiliate" of the Company for
      purposes of
      Rule
      144 adopted under the Act; and

    

    b) If
      the
      Registration Statement is being filed for a distribution of Common Stock
which
      is
      being underwritten by a securities broker-dealer, the Holder's "piggy-back"
      fight
      to
      have shares of Common Stock included therein will be subject to willingness
      of
the
      underwriter to have the shares included or to any limitations which the
      underwriter may
      impose on the Holder's "piggy-back" rights.

    

    No
      recourse shall be had for the payment of the principal of or the premium or
      the
interest
      on this Note or for any claim based hereon or otherwise in respect hereof
      against any incorporator, stockholder, officer or director, as such, past,
      present or future of the Company
      or of any successor corporation, whether by virtue of any constitution or
      statute or
      rule
      of law or by the enforcement of any assessment or penalty or otherwise, all
      such
      liability being by the acceptance hereof and as part of the consideration for
      the issue hereof expressly waived.

    

    All
      notices required or desired to be given hereunder shall be given in writing
      and
      either hand delivered or transmitted by courier, facsimile, first class, postage
      prepaid mail of
      the
      general postage service of the jurisdiction in which it is being mailed. All
      notices sent by mail shall be deemed to have been given when properly deposited
      in the United States Mail. All notices otherwise transmitted shall be deemed
      given when received by the
      party
      to whom it is directed. All notices to the Holder shall be transmitted or
      delivered to:

    

    ABSOLUTE
      RETURN EUROPE FUND LIMITED

    Regal
      House, Suite 3, No. 214 North Church Street

    P.O.
      Box
      10630 APO

    George
      Town, Grand Caymans

    Cayman
      Islands

    Attn:
      Chief Investment Officer

    

    All
      notices to the Company shall be transmitted or directed to the Company
      at:

    

    101
      N.
      Wacker
      Drive Suite 2006

    Chicago,
      Illinois 60606

    

    
      
        
        

      

      
        5

        
          

        

      

      
        
        

      

    

    Attn:
      President

    

    With
      a
      copy to:

     

    Shulman,
      Rogers, Gandal, Pordy & Ecker, P.A. 

    11921
      Rockville Pike, Third Floor 

    Rockville,
      MD 20852

     

    Attn:
      Martin Schaffer, Esq.

    

    Either
      party desiring to change the address to which notices are to be directed may
      do
      so by
      sending notice of the new address to the other party in the manner herein
provided.

    

    The
      Note
      is issued under the laws of the State of Illinois and Illinois law shall
apply
      to
      all issued concerning or arising under the Note. Any matter arising out of
      or
      relating to this Note shall be adjudicated in the state and federal courts
      located in the State
      of
      Illinois.

    

    IN
      WITNESS WITEREOF, the Company has executed this amended and restated
Note
      as
      of the date below written.

    

    
      	
              Dated:
                September 27, 2006

            	
              DURAVEST,
                INC.

            	 
	 	 	 	 
	 	
              By:

            	
              /s/
                Hendrik Hammje

            	 
	 	
              Hendrik
                Hammje

            
	 	
              CEO,
                on behalf of the Board

            

    

    

    Acknowledged
      and agreed

    as
      of the
      date first set forth above:

     

    ABSOLUTE
      RETURN EUROPE FUND LIMITED

     

    
      	
              By:
                

            	
               

            	 
	 	
              Florian
                Homm

            	 
	 	
              Chief
                Investment Officer

            	 

    

     

     

    6Exhibit 10(b)

    10(b)

    ALLONGE

    (Firmly
      affix to Original Note)

     

    THIS
      ALLONGE ("Agreement®) is made as of February 23, 2007, by and between
      DURAVEST,
      INC., a
      Illinois corporation ("Borrower") and ABSOLUTE OCTANE FUND LIMITED
      ("Holder").

     

    RECITALS

     

    The
      Borrower executed and delivered to the order of the Holder its Amended and
      Restated
      Convertible Promissory Note, dated as of November 28, 2005 (ANote@), in the
      original principal
      amount of $1,000,000.00, to evidence certain indebtedness extended by the Holder
      to the
      Borrower (ALoan®).

     

    The
      Borrower has requested that the Holder modify the terms of the Note in certain
      respects.
      The Holder has agreed to the Borrower=s request, but only upon the terms and
      conditions provided in this Agreement.

     

    NOW
      THEREFORE, in consideration of these premises, and other good and valuable
      consideration,
      the receipt and adequacy of which are hereby acknowledged, the parties hereto
      agree
      as
      follows:

     

    1.    Amendments
      To Note.
      The
      provisions of the Note are hereby amended and modified
      as follows:

     

    
      	 	
              a.

            	
              The
                definition of "Maturity Date" is amended and modified by striking
                the
                following sentence from page 1 of the
                Note:

            

    

     

    
      	 	 	
              The
                Principal of the Note shall be due and payable, together with any
                then
                unpaid
                interest on November 28, 2006 (the "Maturity
                Date").

            

    

     

    
      	 	
              b.

            	
              The
                following sentence shall be inserted in its
                place:

            

    

     

    
      	 	 	
              The
                Principal of the Note shall be due and payable, together with any
                then
                unpaid interest on the 31 day of January 2008 (the "Maturity
                Date").

            

    

     

    
      	 	
              c.

            	
              The
                following sentences shall be inserted at the end of the last sentence
                in
                subparagraph
                (a) of the Note:

            

    

     

    To
      the
      extent the Company's Amended and Restated Articles of Incorporation
      ("Charter") do not have a sufficient number of shares of Common
      Stock authorized to satisfy a conversion notice, the Company will
      issue and deliver to Holder the maximum number of shares of Common
      Stock that it is authorized to deliver under its Charter. The Company
      will use its best efforts to amend the Charter to authorize a sufficient number
      of shares of Common Stock to satisfy the full conversion
      and shall promptly issue and deliver such shares to Holder upon the effective
      date of such amendment

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    2.    
Warranties
      and Representations.
      As an
      inducement to the Holder to enter into this
      Agreement, the Borrower makes the following representations and warranties
      to
      the Holder and
      acknowledges the Holder=s justifiable reliance thereon:

     

    a.    All
      warranties and representations previously made to the Holder by the Borrower
      remain true, accurate and complete.

     

    b.    This
      Agreement and the Note, as modified and amended in accordance herewith, are
      the
      valid and binding obligations of the Borrower and are fully enforceable in
      accordance with their terms.

     

    3.    
No
      Novation; No Refinance; No Adverse Affect On Liens.
      The
      parties hereto do not
      intend
      that a novation of the Loan or the Note shall be created or effected by or
      as a
      result of the
      amending of the Note as described herein. The parties hereto do not intend
      that
      the execution of
      this
      Agreement or the amendments to the Note as described herein shall: (a)
      constitute a refinance
      of the Loan; or (b) affect the validity or priority of any of the liens or
      security interests imposed by or granted in the Note.

     

    4.    
Incorporation.
      The
      terms and conditions of the Note are incorporated by reference
      herein and made a part hereof, as if fully set forth herein. In the event of
      any
inconsistency
      between this Agreement and the Note, such inconsistency shall be construed,
      interpreted and resolved so as to benefit the Holder, independent of whether
      this Agreement or the
      Note
      controls, and the Holder=s election of which interpretation or construction
      is
      for the Holder=s benefit shall absolutely govern.

     

    5.    
No
      Other Modification: Final Agreement.
      Except
      as set forth in this Agreement, the
      Note
      remains unmodified and in full force and effect.  Nothing contained herein
      shall be deemed to affect the priority or enforceability of the
      Note.

     

    6.    
Fees
      And Expenses.
      The
      Borrower shall pay on the date of this Agreement reasonable
      costs in connection with this Agreement, including but not limited to reasonable
      attorneys=
      fees.

     

    7.    
Binding
      Effect.
      This
      Agreement shall inure to the benefit of the parties hereto, and shall be binding
      upon their successors, personal representatives and assigns.

     

    8.    
Choice
      of Law.
      The laws
      of the State of Illinois (excluding, however, conflict of law
      principles) shall govern and be applied to determine all issues relating to
      this
      Agreement and the
      rights and obligations of the parties hereto, including the validity,
      construction, interpretation, and enforceability of this Agreement and its
      various provisions and the consequences and legal effect of all transactions
      and
      events which resulted in the execution of this Agreement or which occurred
      or
      were to occur as a direct or indirect result of this Agreement
      having been executed.

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    9.    
Consent
      To Jurisdiction: Agreement As to Venue.
      The
      Borrower irrevocably consents
      to the
      non-exclusive jurisdiction of the state or federal courts of the State of
      Illinois or the State of New York.

     

    10.    Tense,
      Gender, Defined Terms, Captions.
      As used
      herein, the plural shall refer to and
      include the singular, and the singular, the plural and the use of any gender
      shall include and refer
      to
      any other gender. All defined terms are completely capitalized throughout this
      Agreement.  All captions are for the purpose of convenience
      only.

     

    11.    Time.
      Time is
      of the essence with respect to this Agreement and all terms and conditions
      described herein.

     

    12.    No
      Defenses Or Offsets; Release Of Any Claims.
      In
      consideration for the agreement
      of the Holder to extend the maturity of the Loan as provided for herein, the
      Borrower hereby
      acknowledges and agrees that it hereby forever waives and releases any and
      all
      defenses or
      offsets, known or unknown to the Borrower, which might restrict the
      immediate right of the Holder,
      upon the occurrence of an event of default under the Note, to do the following:
      (a) require
      the payment in full of the Loan; and (b) initiate enforcement and collection
      proceedings against the Borrower or against any collateral securing the
      obligations of the Borrower to the Holder.
      The Borrower hereby releases, waives, discharges and agrees to hold the Holder
      and its officers,
      directors, agents and employees harmless from any and all claims, known or
      unknown, which the Borrower might have against the Holder or its officers,
      directors, agents or employees which
      in
      any way relate, pertain, or arise, directly or indirectly, from the Loan, the
      Note, this Agreement,
      or which otherwise relate or pertain to the collateral securing the obligations
      of the Borrower
      due to the Holder or the transactions described in this Agreement or the conduct
      of the parties
      with respect thereto.

     

    IN
      WITNESS WHEREOF, the parties hereto have executed this Agreement under seal
      as
of
      the
      date first above written. This Agreement may be executed in
      counterparts.

     

    

    
      	
              WITNESS/ATTEST:

            	 	
              BORROWER:

            	 	 
	 	 	 	 	 
	    
	 	
                
                

            	/s/
              Hendrik Hammje	
              (SEAL)

            	 
	 	 	
              Name:

            	Hendrik
              Hammje	  
	 
	 	 	
              Title:
                

            	CEO	  
	 

    

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

       

    

    
      	 	 	
              HOLDER:

            	 	 
	 	 	 	 	 	 
	 	 	 	 	 	 
	 	 	
               
                

            	/s/
              Florian Homm	
              (SEAL)

            	 
	 	 	
              Name:
                

            	
              Florian
                Homm

            	  
	 
	 	 	
              Title:
                

            	
              Principal

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00120-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00120-of-00352.parquet"}]]