Promissory Note Between Paving Stone Corporation and Jack Hight Dated November 13, 2002

Summary

Paving Stone Corporation agrees to repay Jack Hight $700,000 plus 10% annual interest, with full payment due by January 31, 2004. Interest is paid semi-annually, and the company will cover up to $2,500 in related expenses. The loan is secured by company assets, including common stock. Jack Hight may convert the note into a bridge financing instrument. This agreement replaces a previous $200,000 note. Both parties have signed and agreed to these terms.

EX-10.2 3 doc2.txt Exhibit 10.2 PROMISSORY NOTE Principal amount: $700,000.00 Date November 13, 2002 FOR VALUE RECEIVED, Paving Stone Corporation (the Company), a Nevada corporation, hereby Promises, to pay to the order of Jack Hight or his assignee, the sum of seven hundred Thousand dollars ($700,000.00). Full payment including unpaid interest will be due January 31, 2004. Interest will be payable semi-annually and will accrue at an annual rate of 10%, beginning on the date of funding. The Company will reimburse all fees and expenses of Jack Hight in connection with this funding up to $2500. All payments hereunder shall be made by Paving Stone Corporation to Jack Hight or his assignee at the following address: 369 South Lake Drive, Palm Bch., Fl. 33480. All notices to Paving Stone Corporation Shall be sent to its headquarters, at the Following address: 1760 N.W. 22 Court, Pompano Beach, Florida 33069 Paving Stone Corporation agrees to secure this note with collateral, including common stock or other assets of the company. Paving Stone Corporation agrees to remain fully bound until this note shall be fully paid. No modification or indulgence by the holder hereof shall be binding unless in writing. Any indulgence on any one occasion shall not be an indulgence for any other or future Occasion. Jack Hight, at his sole discretion, may convert this note into a bridge financing instrument currently being prepared by the company. Such instrument will be available in draft form within 5 business days. It is agreed by both parties that by executing this note, the Promissory Note for $200,000 dated September 5, 2002 payable by Paving Stone Corporation to Jack Hight is hereby null and void. Agreed to and executed by the President of Paving Stone Corporation, with binding Authority, on behalf of Paving Stone Corporation, this 13th day of November 2002. /s/ Maurice Sigouin - --------------------- ------------------------------------ Maurice Sigouin (sign) (print) /s/ Jack Hight - ---------------- ------------------------------------ Jack Hight (sign) (print)