CALIF. COMM. CODE 3104. Negotiable Instrument.
CALIF. JUR. 3d-SECURED TRANSACTIONS
CALIF. JUR. 3d--Bills & Notes
CALIF. COMM. CODE 9104. Control of Deposite Account

A 300 Entity Enterprise @ 2006. NDUGU ENTERPRISES, INC @ MAIL.COM

TO:

The Maker of a PROMISSORY NOTE (1) express agrees to pay the note according to its terms, (2) admits the existence of the payee, and (3) warrants that the payee is competent to transfer the instrument by endorsement.

PAY TO THE ORDER OF Bernard L. Smith NDUGU ENTERPRISES, INC. $5,950,000
FIVE MILLION-NINE HUNDRED FIFTY THOUSAND DOLLARS

MAKER: NDUGU ENTERPRISES, INC

The credit line/loan we request can have an Interest Rate of: 13.99% SECURED
UCC # 10-7230473188 - Transmitting Utility

Life of Credit/Loan: 15 Years or REVOLVING

First Annual payment: Payment of $339,120.25 due ONE YEAR after note is endorsed. Or when credit is available.

Loan/Credit paid in full on or before: January 1st, 2026.

CAPITAL INVESTMENTS
NDUGU ENTERPRISES, INC. will immediately purchase/lease office space for a HEADQUARTERS where it can continue to issue stock by way of an IPO: INITIAL PUBLIC OFFERING. NDUGU, INC. have 118 businesses ready for operations, with 1,850,000 jobs.

INVESTMENT EXPENSES
NDUGU ENTERPRISES, INC. will purchase $1.4 MILLION DOLLARS of its stock. It will also purchases stocks/CD from thirty (30) banks, investment firms, and private equity firms to build revenue and financial stability.

ENTERPRISE AMBASSADORS:
Our intentions are to hire 75 college students after graduation, or those soon to graduate in accounting, management, food, medicine, engineering, telecommunications, stocks/brokerage, attorney, health care insurance coordinator, marketing, language, and more. @ $35,000 - Annually (to start).

COLLATERAL/SECURED $17.00 Per Share Stock
NDUGU ENTERPRISES, INC. will offer you 350,000 shares of stock as collateral for this sum of money NDUGU, INC promises to pay at a later date.

Mr. Bernard L. Smith
CHIEF INVESTMENT OFFICER
NDUGU ENTERPRISES, INC

[second page is a copy of a certified promissory note]