Promissory Note dated March 17, 2006 in the principal amount of $562,500 executed by Parkson Property, LLC in favor of Bay Colony Associates, Ltd

Exhibit 10.3
PROMISSORY NOTE

          FOR VALUE RECEIVED, Parkson Property, LLC, a wholly owned subsidiary of Le@P Technology, Inc. with a principal place of business at 5601 N. Dixie Highway, Suite 411, Fort Lauderdale, Florida 33334 (“Maker”), promises to pay to the order of Bay Colony Associates, Ltd. (the “Payee”), the principal sum of FIVE HUNDRED SIXTY-TWO THOUSAND FIVE HUNDRED DOLLARS AND NO CENTS ($562,500.00), together with interest at the rate of seven percent (7%) per annum due and payable in one lump sum of principal and interest on January 8, 2008. Payment of principal and accrued interest to be paid to the payee at the following address: 5601 N. Dixie Highway, Suite 411, Ft. Lauderdale, FL 33334, or such other place as the Payee may designate.

          This Promissory Note (this “Note”) is issued subject to the following additional terms and conditions:

          1. Cancellation of original note dated September 28, 2001. This Note is intended to replace the original note (“Original Note”) made by the Maker to the Payee dated September 28, 2001 in the amount of $562,500. The Original Note was due and payable on September 28, 2004. The Original Note has been cancelled by the Payee and the Maker has no further obligations under the Original Note.

          2. Type of Payment. Payment of both principal and interest shall be made in currency of the United States of America which at the time of payment shall be legal tender for the payment of public and private debts.

          3. Manner of Payment. Payment shall be made to Payee at the Payee’s address set forth above or such other place as Payee may designate in writing.

          4. Interest on Overdue Payments. From and after the date which is fifteen (15) days after the date upon which any payment of principal hereunder becomes due and payable, if the same is not timely paid, interest shall be payable on all sums outstanding hereunder at fifteen percent (15%) per annum.

          5. Miscellaneous.

                    (A) This Note shall be binding upon the Maker and its successors and assigns.

                    (B) If any provision hereof shall be held invalid or unenforceable by any court of competent jurisdiction or as a result of future legislative action, such holding or action shall be strictly construed and shall not affect the validity or effect of any other provision hereof.

                    (C) The validity, interpretation and effect of this Note shall be exclusively governed by, and construed in accordance with, the laws of the State of Florida, excluding the “conflict of laws” rules thereof.

                     (D) This Note may not be amended or modified, nor shall any waiver of any provision hereof be effective, except by an instrument in writing executed by the Maker and Payee.