Document:

Exhibit
        10.32

      ESCROW
        AGREEMENT

      

      

      THIS
        ESCROW AGREEMENT (the "Agreement")
        is made
        and entered into on November 7, 2006, by and among Ellis,
        Painter, Ratterree & Adams LLP,
        whose
        address for notice is P.O. Box 9946, Savannah, Georgia 31412, as escrow agent
        (the "Escrow
        Agent"),
        Xethanol
        Corporation,
        whose
        address for notice is as set forth in the Amended and Restated Asset Purchase
        Agreement set forth below, as buyer (the “Buyer”),
        and
Carolina
        Fiberboard Corporation LLC,
        whose
        address for notice is James Andrew Saputo, Jr., Esq., Thompson & Saputo,
        PLLC, 1708 Trawick Road, Suite 111, Raleigh, North Carolina 27604, as sellers
        (hereinafter, collectively and individually, the "Sellers").

      

      On
        this
        date, Seller is selling to Buyer approximately 214 acres of land along with
        improvements thereon commonly known as 518 South Old Franklin Road, Spring
        Hope,
        North Carolina (the “Property”),
        all
        pursuant to an Amended and Restated Asset Purchase Agreement (the “APA”)
        dated
        same date herewith between Buyer, Seller and Victor Kramer. Pursuant to Item
        9
        of the APA, Seller has agreed to reimburse Buyer for certain costs and expenses
        related to environmental work to be performed by Buyer after Buyer’s purchase of
        the Property, and as inducement to Buyer to proceed with the closing of the
        purchase of the Property, Buyer and Seller have agreed that the “Escrowed Funds”
(defined in Item 1 below) be held and disbursed as provided
        hereinbelow.

      

      For
        Ten
        and No/100 ($10.00) Dollars and other good and valuable consideration, the
        receipt and sufficiency of which are hereby acknowledged, the parties agree
        as
        follows:

      

      1.       The
        Escrowed Funds.
        From
        the consideration to be paid by Buyer to Seller at closing under the APA,
        the
        parties shall deposit with the Escrow Agent (a) the sum of $200,000.00 (the
        “Cash
        Component”)
        and (b)
        1,000,000 shares of the common stock of Xethanol Corporation along with
        corresponding executed blank stock powers of attorney (the “Stock
        Component”)
        (hereinafter, the Cash Component and the Stock Component shall be referred
        to
        collectively as the “Escrowed
        Funds”).
        As
        soon as practicable after the execution hereof, Escrow Agent shall open a
        money
        market account under Seller’s taxpayer identification number (which Seller
        represents and warrants is as set forth below in Seller’s signature block) and
        shall deposit the Cash Component into such account. Escrow Agent shall be
        the
        sole signatory on such account, and the Cash Component along with any earned
        interest shall be maintained in said account until distribution by the Escrow
        Agent as provided below. The Stock Component shall be held by Escrow Agent
        until
        distribution by the Escrow Agent as provided below. Further, as stated in
        the
        APA, Escrow Agent is holding the Escrowed Funds hereunder as collateral agent
        for Buyer for purposes of Buyer’s perfecting Buyer’s security interest in the
        Escrowed Funds by possession, which security interest was granted by Seller
        to
        Buyer in Item 9 of the APA. 

      

      2.       Release
        of Escrowed Funds.

      

      (a) 
        If Seller desires to request under Item 9(f) of the APA that Escrow Agent
        make
        disbursements of the Cash Component, Seller shall submit such a request to
        Escrow Agent in a form substantially similar to the form attached hereto
        as
Exhibit
        “B”,
        in
        which case Escrow Agent shall promptly disburse the amount so
        requested.

      

      (b) 
        If Buyer desires to request under Item 9(g) of the APA that Escrow Agent
        make
        disbursements of the Cash Component, Buyer shall submit such a request to
        Escrow
        Agent in a form substantially similar to the form attached hereto as
Exhibit
        “A”,
        in
        which case Escrow Agent shall promptly disburse the amount so
        requested.

       

       

      
        
          
          

        

        
          1

          
            

          

        

        
          
          

        

      

       

      (c) 
        If Buyer or Seller desire to submit a request for payment or reimbursement
        under
        Item 9(h)(1) of the APA, Buyer shall use a form substantially similar to
        that
        attached hereto as Exhibit
        “A”,
        and
        Seller shall use a form substantially similar to that attached hereto as
        Exhibit
        “C”.
        If
        Escrow Agent desires to submit a request that the Buyer pay under Item 9(h)(2)
        of the APA, Escrow Agent shall use a form substantially similar to that attached
        hereto as Exhibit
        “D”.
        Upon
        the Escrow Agent’s payment of invoices under Item 9(h)(3) of the APA from funds
        received by the Buyer, Escrow Agent shall disburse the Calculated Number
        of
        shares to the Buyer. 

      

      (d) 
        Twenty (20) days or more after issuance of the “Written
        Confirmation”
        (as
        defined in Item 9(b) of the APA), Seller may request that the remaining Escrowed
        Funds be disbursed to Seller in a form substantially similar to the form
        attached hereto as Exhibit
        “E”,
        in
        which case Escrow Agent shall promptly disburse to Seller the remaining Escrowed
        Funds.

      

      (e) 
        Should Seller and Buyer request that the Escrow Agent disburse all or part
        of
        the Escrowed Funds in a written instrument addressed to Escrow Agent and
        signed
        by Seller and Buyer, Escrow Agent shall disburse such part of the Escrowed
        Funds
        as Seller and Buyer so direct in such written request.

      

      3.       
        Escrow Agent accepts its appointment hereunder and acknowledges that, when
        received, the Escrowed Funds shall be held in escrow and held and disbursed
        in
        accordance with this Escrow Agreement; provided, however, that if a disagreement
        arises between Seller and Buyer regarding the Escrowed Funds, which disagreement
        is not settled by the mutual written agreement of Escrow Agent, Seller and
        Buyer
        or cannot be settled by Escrow Agent's reasonable review of this Agreement
        and
        the APA, the Escrow Agent shall not disburse the Escrowed Funds except upon
        an
        order of a court of competent jurisdiction or written instructions signed
        by
        Escrow Agent, Seller and Buyer; provided, further, however that nothing
        contained in this paragraph shall restrict or prohibit Escrow Agent from,
        in its
        sole discretion, exercising its rights to interplead such funds as provided
        below should a dispute arise between or among the parties hereto over this
        escrow or the subject matter of this Agreement.

      

      4.       Escrow
        Agent is hereby relieved of all liability under this Agreement for any
        determination, act and/or failure to act, except for its own gross negligence,
        fraud or the fraud or gross negligence of any of its partners, directors,
        officers, or employees. The Escrow Agent shall not be responsible for the
        genuineness of any certificate or signature and may conclusively rely upon
        and
        shall be protected when acting upon any notice, affidavit, request, consent,
        instructions, check or other instrument believed by Escrow Agent in good
        faith
        to be genuine or to be signed or presented by the proper person, or duly
        authorized, or properly made. The Escrow Agent shall have no responsibility
        except for the performance of its express duties hereunder, and no additional
        duties shall be inferred herefrom or implied hereby.

      

      5.       If
        at any time a dispute between or among the parties hereto arises over this
        escrow or the subject matter of this Escrow Agreement, Escrow Agent, in its
        sole
        discretion and notwithstanding anything to the contrary, may institute an
        appropriate proceeding in a court of law or equity (including but not limited
        to
        a court in Chatham County, Georgia) and deliver or pay unto said Court any
        funds
        held by Escrow Agent pursuant to this Agreement; and in such event, any
        reasonable legal fees or expenses incurred by Escrow Agent shall be chargeable
        against the funds paid into Court as determined by the Court. Notwithstanding
        the foregoing, Escrow Agent shall not be required to institute or defend
        any
        action involving any matter regarding this escrow or the subject matter of
        this
        Escrow Agreement unless and until requested to do so by another party to
        this
        Escrow Agreement and then only upon receiving full indemnity, in form and
        substance wholly satisfactory to Escrow Agent, in its sole discretion, against
        any and all claims, liabilities and expenses in relation thereto.

       

       

      
        
          
          

        

        
          2

          
            

          

        

        
          
          

        

      

       

      6.       All
        notices in connection with this Agreement shall be in writing, and either
        (i)
        hand-delivered, (ii) delivered by certified mail, postage prepaid, return
        receipt requested, or (iii) delivered by an overnight delivery service,
        addressed as first set forth above. Notices shall be deemed delivered (i)
        on the
        date that is three (3) calendar days after the notice is deposited in the
        U.S.
        Mail (not counting the mailing date), if sent by certified mail, (ii) on
        the
        date the hand-delivery is made or fax is received, if hand delivered or
        delivered by fax, (iii) on the next business day following the date that
        the
        notice is deposited with an overnight delivery service, if delivered by an
        overnight delivery service. The addresses given above may be changed by any
        party by notice given in the manner provided herein.

      

      7.       This
        Agreement and the rights and obligations of the parties hereunder shall be
        governed by, and construed and interpreted in accordance with, the laws of
        the
        State of Georgia, without resort to the conflicts or choice of law principles
        thereof. Whenever possible, each provision of this Agreement shall be
        interpreted so as to be valid and effective under applicable law, but if
        any
        provision of this Agreement shall be prohibited or invalid under applicable
        law,
        that provision shall be ineffective only to the extent of the prohibition
        or
        invalidity, without invalidating the remainder of that provision or the
        remaining provisions of this Agreement. This Agreement is the product of
        joint
        drafting and preparation, and no provision of this Agreement shall be construed
        against or interpreted to the disadvantage of any party hereto by any
        arbitrator, court or other governmental or judicial authority by reason of
        such
        party having or being deemed to have structured or dictated such provision.
        Any
        legal action or proceeding with respect to this Agreement must be brought
        in the
        courts of Chatham County, Georgia, and each party hereby submits to the
        jurisdiction and venue of said courts, hereby expressly waiving any defense
        of
        personal jurisdiction or improper venue. Should any party obtain a judgment
        against any other party, the party against whom judgment was rendered hereby
        irrevocably agrees that party obtaining the judgment may domesticate and/or
        enforce such judgment without limitation in any jurisdiction whatsoever in
        which
        the party against whom judgment was rendered or its property resides. Escrow
        Agent may withhold amounts due to it upon disbursement of funds hereunder.
        

      

      8.       This
        Agreement, along with all exhibits, documents, instruments and agreements
        incorporated herein, constitutes the entire and complete agreement between
        the
        parties hereto and supersedes any prior oral or written agreement between
        the
        parties with respect to the obligations and covenants contemplated hereunder.
        It
        is expressly agreed that there are no verbal understandings or agreements
        which
        in any way change the terms, covenants, and conditions set forth in this
        Agreement and that no modification of this Agreement and no waiver of any
        of its
        terms and conditions shall be effective unless made in writing and duly executed
        by all parties hereto. This Agreement shall be binding upon and inure to
        the
        benefit of the respective heirs, estates, legal and personal representatives,
        successors and permitted assigns of the parties hereto, and no party may
        assign
        or delegate in whole or in part any rights or duties hereunder without the
        written consent of all parties hereto. This Agreement may be executed in
        any
        number of identical counterparts, and each counterpart hereof shall be deemed
        to
        be an original instrument, but all counterparts hereof taken together shall
        constitute but a single instrument. If executed in identical counterparts,
        this
        Agreement shall not become effective until all parties hereto have effectively
        executed their respective counterpart. 

      

      

      
        
          
          

        

        
          3

          
            

          

        

        
          
          

        

      

       

      
        This
          Escrow Agreement has been executed as of the date set forth above as
          follows:

         

        
          	Seller: 	 	Buyer:
	 	 	 	 	 
	Carolina Fiberboard
                  Corporation
                  LLC	 	Xethanol Corporation
	 	 	 	 	 
	By:  	/s/ Victor
                  Kramer 
                  

                	 	By: 
                  	/s/ Lawrence
                  Bellone 
                  

                
	 	 	 	 	 
	
                  Title:

                	 Manager
                  
                  

                	 	Title:	 Chief
                  Financial Officer 
                  

                
	
                	
                	 	 	 
	Federal
                  EIN is:
                  _________________________	 	 	 

        

         

         

        
          
            	 	 	Escrow Agent:
	 	 	 
	 	 	Ellis, Painter, Ratterree
&
                    Adams, LLP
	 	 	 
	 	 	 	 	 
	  	 	 	By: 
                    	/s/ James
                    K.
                    Austin 
                    
James
                    K. Austin, Partner
	
                     

                     

                  	 	 	 
	 

          

           

        

      

      
        
          
          

        

        
          4

          
            

          

        

        
          
          

        

      

      

      Exhibit
        “A”

      

      

      

      
        	
                To:

              	
                Ellis,
                  Painter, Ratterree & Adams LLP, as Escrow Agent

              
	 	
                Attn:
                  James K. Austin, Esq.

              
	
                From:

              	
                Xethanol
                  Corporation

              
	
                Date:

              	
                ______________________,
                  200___

              
	
                Re:

              	
                Request
                  for Reimbursement from Escrowed Funds held pursuant to that Escrow
                  Agreement dated November 7, 2006, between Xethanol Corporation,
                  Carolina
                  Fiberboard Corporation LLC and Ellis, Painter, Ratterree & Adams LLP
                  (the “Escrow Agreement”). Capitalized terms used herein but not defined
                  herein shall have the meanings ascribed to them in the Escrow
                  Agreement.

              

      

      

      

      Xethanol
        Corporation hereby certifies that Carolina Fiberboard Corporation LLC failed
        to
        timely reimburse Xethanol Corporation the sum of $___________ as required
        under
        Item 9 of that Amended and Restated Asset Purchase Agreement dated November
        ____, 2006 between Xethanol Corporation, Carolina Fiberboard Corporation
        LLC and
        Victor Kramer.

      

      Xethanol
        Corporation hereby requests that Ellis, Painter, Ratterree & Adams LLP, as
        escrow agent under the Escrow Agreement, disburse to Xethanol Corporation
        the
        sum of $___________ from the “Escrowed Funds” (as such term is defined in the
        Escrow Agreement) held by Ellis, Painter, Ratterree & Adams LLP, as escrow
        agent under the Escrow Agreement.

      

      
        	Xethanol
                Corporation
	 	 
	By:	 
	 	 
	Title:	 

      

       

       

       

      
        
          
          

        

        
          5

          
            

          

        

        
          
          

        

      

       

      Exhibit
        “B”

      

      

      

      
        	
                To:

              	
                Ellis,
                  Painter, Ratterree & Adams LLP, as Escrow Agent

              
	 	
                Attn:
                  James K. Austin, Esq.

              
	
                From:

              	
                Carolina
                  Fiberboard Corporation LLC

              
	
                Date:

              	
                ______________________,
                  200___

              
	
                Re:

              	
                Request
                  for Reimbursement from Escrowed Funds held pursuant to that Escrow
                  Agreement dated November 7, 2006, between Xethanol Corporation,
                  Carolina
                  Fiberboard Corporation LLC and Ellis, Painter, Ratterree & Adams LLP
                  (the “Escrow Agreement”). Capitalized terms used herein but not defined
                  herein shall have the meanings ascribed to them in the Escrow Agreement.
                  

              

      

       

       

      Carolina
        Fiberboard Corporation LLC hereby certifies that Carolina Fiberboard Corporation
        LLC has paid the invoices attached hereto as Exhibit “A” in the total amount of
        _________ and hereby requests that Escrow Agent disburse from the Escrowed
        Funds
        the sum of $___________ to Carolina Fiberboard Corporation LLC in reimbursement.
        In support of this request, proof of payment of all of said invoices is also
        attached as part of Exhibit “A”.

      

      Carolina
        Fiberboard Corporation LLC hereby requests that the Escrow Agent disburse
        from
        the Escrowed Funds the total amount of $________________ to directly paid
        the
        invoices attached hereto as Exhibit “A” which Carolina Fiberboard Corporation
        LLC certifies have not yet been paid.

      

      
        
          	Carolina
                  Fiberboard Corporation LLC 
	 	 
	By:	 
	 	 
	Title:	 

        

      
        
          
          

        

        
          6

          
            

          

        

        
          
          

        

      

       

      Exhibit
        “C”

      

      

      

      

      
        	
                To:

              	
                Ellis,
                  Painter, Ratterree & Adams LLP, as Escrow Agent

              
	 	
                Attn:
                  James K. Austin, Esq.

              
	
                From:

              	
                Carolina
                  Fiberboard Corporation LLC

              
	
                Date:

              	
                ______________________,
                  200___

              
	
                Re:

              	
                Request
                  for Reimbursement from Escrowed Funds held pursuant to that Escrow
                  Agreement dated November 7, 2006, between Xethanol Corporation,
                  Carolina
                  Fiberboard Corporation LLC and Ellis, Painter, Ratterree & Adams LLP
                  (the “Escrow Agreement”). Capitalized terms used herein but not defined
                  herein shall have the meanings ascribed to them in the Escrow Agreement.
                  

              

      

      

      

      Carolina
        Fiberboard Corporation LLC hereby requests that the Escrow Agent disburse
        from
        the Escrowed Funds the total amount of $________________ to directly pay
        the
        invoices attached hereto as Exhibit “A” which Carolina Fiberboard Corporation
        LLC certifies have not yet been paid.

      

      The
        Cash
        Component of the Escrowed Funds has been exhausted or will be exhausted by
        the
        payments requested above, and Carolina Fiberboard Corporation LLC elects
        that
        shares of stock held in escrow be used for payment pursuant to the procedure
        set
        forth in Item 9(h) of the APA.

       

      
        	Carolina
                Fiberboard Corporation LLC 
	 	 
	By:	 
	 	 
	Title:	 

      

      

      
        
           

          
          

        

        
          7

          
            

          

        

        
          
          

        

      

      Exhibit
        “D”

      

      

      

      
        	
                To:

              	
                Xethanol
                  Corporation 

              
	
                From:

              	
                Ellis,
                  Painter, Ratterree & Adams LLP, as Escrow Agent

              
	
                Date:

              	
                ______________________,
                  200___

              
	
                Re:

              	
                Request
                  for Payment pursuant to that Escrow Agreement dated November 7,
                  2006,
                  between Xethanol Corporation, Carolina Fiberboard Corporation LLC
                  and
                  Ellis, Painter, Ratterree & Adams LLP (the “Escrow Agreement”).
                  Capitalized terms used herein but not defined herein shall have
                  the
                  meanings ascribed to them in the Escrow
                  Agreement.

              

      

      

      

      Pursuant
        to Item 9(h)(3) of the APA, Escrow Agent hereby requests that Xethanol
        Corporation pay to Escrow Agent the sum of $___________ in order to permit
        Escrow Agent to pay the invoices attached hereto as Exhibit “A.” Upon receipt of
        such amount, the Escrow Agent will release to Xethanol Corporation _______
        shares of the stock of Xethanol Corporation now held in escrow, all pursuant
        to
        Item 9(h)(3) of the APA.

      

      
        
          	Ellis,
                  Painter, Ratterree & Adams LLP
	 	 
	By:	 
	 	 
	Title:	 

        

      

      
 

      
        
          
          

        

        
          8

          
            

          

        

        
          
          

        

      

      

      Exhibit
        “E”

      

      

      

      
        	
                To:

              	
                Ellis,
                  Painter, Ratterree & Adams LLP

              
	 	
                Attn:
                  James K. Austin, Esq.

              
	
                From:

              	
                Carolina
                  Fiberboard Corporation LLC 

              
	
                Date:

              	
                ______________________,
                  200___

              
	
                Re:

              	
                Request
                  for Disbursement of Escrowed Funds held pursuant to that Escrow
                  Agreement
                  dated November 7, 2006, between Xethanol Corporation, Carolina
                  Fiberboard
                  Corporation LLC and Ellis, Painter, Ratterree & Adams LLP (the “Escrow
                  Agreement”).

              

      

      

      

      Carolina
        Fiberboard Corporation LLC hereby certifies that Twenty (20) days or more
        have
        elapsed after issuance of the “Written
        Confirmation”
        (as
        defined in Item 9(b) of that Amended and Restated Asset Purchase Agreement
        dated
        November ____, 2006 between Xethanol Corporation, Carolina Fiberboard
        Corporation LLC and Victor Kramer).

      

      Carolina
        Fiberboard Corporation LLC hereby requests that Ellis, Painter, Ratterree
&
Adams LLP, as escrow agent under the Escrow Agreement, disburse to Carolina
        Fiberboard Corporation LLC all remaining “Escrowed Funds” (as such term is
        defined in the Escrow Agreement) held by Ellis, Painter, Ratterree & Adams
        LLP, as escrow agent under the Escrow Agreement.

       

      
        
          	Carolina
                  Fiberboard Corporation LLC 
	 	 
	By:	 
	 	 
	Title:	 

        

       

      
        
          
          

        

        
          9NOTE

    

    February
      22, 2007

    $100,000.00

    

    Broward
      County, Florida

    Property
      Address: 936-940
      NW
      1st
      Street.,
      Fort Lauderdale, FL 33311

    

    1.
      BORROWER'S PROMISE TO PAY

     

    In
      return
      for a loan that the undersigned has received, the undersigned promise to pay
      U.S. $100,000.00 (this amount is called "principal"), plus interest, to the
      order of Lender. The Lender is GKR
      ASSOCIATES, LLC, a Florida limited liability company.
      The
      undersigned understands that the Lender may transfer this Note. The Lender
      or
      anyone who takes this Note by transfer and who is entitled to receive payments
      Under this Note is called the "Note Holder."

    

    2.
      INTEREST

     

    Interest
      will be charged on unpaid principal until the full amount of principal has
      been
      paid. The undersigned will pay interest at a yearly rate of 6.99%.

    

    3.
      PAYMENTS.

     

    (A)
      Time and Place of Payments.

     

    The
      undersigned will pay principal and interest by making payments every
      month.

    The
      undersigned will make monthly payments of principal and interest accrued on
      the
      unpaid principal balance for the preceding month on the twenty
      second (22nd)
      day of each month
      beginning on March
      22, 2007,
      and
      will make these payments every month until all of the principal and interest
      and
      any other charges described below that may be owed under this Note are paid.
      All
      payments will be applied to interest before principal. On February
      22, 2012,
      which
      is called the "maturity date"., the undersigned will pay the principal sum
      remaining and all other amounts which the undersigned owes under this
      Note.

    All
      payments shall be made at c/o
      Rockland Properties, LLC, attn: Kenny Hale 1314 East Las Olas Boulevard #1114,
      Fort Lauderdale, FL 33301,
      or at a
      different place if required by the Note Holder.

     

    (B)
      Amount of Monthly Payments

     

    The
      monthly payment will be in the amount of U.S. $1,979.65.

    

    4.
      BORROWER'S RIGHT TO PREPAY:
      

     

    This
      Note
      is prepayable in full or in part at any time, without prepayment
      penalty.

    

    5.
      LOAN CHARGES

    

    If
      a law,
      which applies to this loan and which sets maximum loan charges, is finally
      interpreted so that the interest or other loan charges collected or to be
      collected in connection with this loan exceed the permitted limits, then: (I)
      any such loan charge shall be reduced by the amount necessary to reduce the
      charge to the permitted limit; and (ii) any sums already collected from me
      which
      exceed permitted limits will be refunded The Note Holder may choose to make
      this
      refund by reducing the principal owed under this Note or by making a direct
      payment to the undersigned.

    

    6.
      BORROWER’S FAILURE TO PAY AS REQUIRED

    

    (A)
      Late Charges for Overdue Payments

     

    If
      the
      Note Holder has not received the full amount of any monthly payment by the
      end
      of five (5) business days after the date it is due, the undersigned will pay
      a
      late charge to the, Note Holder. The amount of the charge will be TEN PERCENT
      (10.0%) of the overdue monthly payment, which shall be paid promptly but only
      once on each late payment.

     

    (B)
      Default

     

    If
      the
      full amount of each monthly payment is not paid on the date it is due, a default
      will exist. 

     

    (C)
      Acceleration

     

    If
      any
      monthly payment is not paid within fifteen (15) days of when it is due, the
      Note
      Holder may require immediate payment of the full amount of principal and all
      the
      interest owed on that amount.

     

    (D)
      No Waiver by Note Holder

     

    Even
      if,
      at a time when a default exists, the Note Holder does not require immediate
      payment in full as described above, the Note Holder will still have the right
      to
      do so if a default exists at a later time.

     

    (E)
      Payment of Note Holder's Costs and Expenses.

     

    If
      the
      Note Holder has required immediate payment in full as described above, the
      Note
      Holder will have the right to recover from the undersigned all of its costs
      and
      expenses in enforcing this Note to the extent not prohibited by applicable
      law.
      Those expenses may include, for example reasonable attorneys' fees.

    

    7.
      GIVING OF NOTICES

    

    Unless
      applicable law requires a different method, any notice that must be given to
      the
      undersigned under this Note will be given by delivering it or mailing it by
      first class mail at 940
      NW
      1st
      Street.,
      Fort Lauderdale, FL 33311
      or at a
      different address if the Note Holder has been given notice of a different
      address.

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    Any
      notice that must be given to the Note Holder under this note will be given
      by
      mailing it by first class mail to the Note Holder at the address stated in
      Section 3(A) above or at a different address if the undersigned is given a
      notice of that different address.

    

    8.
      WAIVERS

    

    The
      undersigned and any person who has obligations under this Note waive the rights
      of presentment and notice of dishonor. "Presentment” means the right to require
      the Note Holder to demand payment of amounts due. "Notice of Dishonor' means
      the
      right to require the Note Holder to give notice to other persons that amounts
      due have not been paid.

    

    9.
      SECURED NOTE

    

    In
      Addition to the protections given to the Note Holder under this Note, Mortgage
      (the “Security Instrument"), dated the same date as this Note, protects the Note
      Holder from possible losses which might result if the promises made in this
      Note
      are not kept. The Security Instrument describes how and under what conditions
      the undersigned may be required to make immediate payment in full of all amounts
      owed under this Note.

     

    
      
        	
                TREBOR
                  INDUSTRIES, INC., a Florida corporation,
                  Borrower

              	
                (SEAL)

              

      

    

    

      
        	
                BY:
                  

              	
                 /s/Robert
                  M. Carmichael

              	 	
              
	 	
                Robert
                  M. Carmichael President

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"}]]