PROMISSORY NOTE

$700,000                                                     Seattle, Washington
                                                                    May 30, 2001


     FOR VALUE  RECEIVED,  the undersigned  promise to pay to Centrum  Financial
Services,  Inc., a Washington corporation,  or order, at P.O. Box 2243, Seattle,
Washington  98111-2243,  or at such  other  address  as the  holder  hereof  may
hereafter  direct in  writing,  the sum of SEVEN  HUNDRED  THOUSAND  and  no/100
DOLLARS  ($700,000.00),  In lawful  money of the United  States,  with  interest
thereon  from the date  hereof,  at the rate  hereinafter  provided,  payable as
follows:

     An amount  equal to all then unpaid  accrued  interest on or before the 1st
     day of July,  2001, and a sum equal to all then unpaid accrued  interest on
     or before the same day of each succeeding  calendar month  thereafter until
     such time as this  note is paid in full,  which  payments  are  subject  to
     adjustment as hereinafter  provided.  The undersigned  further agree to pay
     interest  from  the  date  hereof,  on  the  principal  balance,   and  the
     diminishing  amounts thereof,  at a rate equal to 6.00% per annum above the
     prime lending rate  established by Bank of America for commercial  loans in
     the  Seattle  area,  which rate is  presently  set at 7.00% per annum.  The
     interest rate herein shall be adjusted on the date hereof,  and  thereafter
     on the first day of each  succeeding  calendar month, to an amount equal to
     6.00% per annum above the prime  lending rate.  Interest  shall be deducted
     from each monthly  installment and the balance, if any, shall be applied in
     reduction of principal. The monthly payments shall be adjusted, on the date
     the  interest  rate is adjusted as  provided  above,  to a sum equal to the
     amount of interest  which  accrues  monthly  pursuant to this note.  In any
     event, the undersigned agree to pay this note in full on or before December
     1, 2002.

     If Bank of America  ceases to establish a prime  lending rate, or such rate
is otherwise  unavailable,  the holder hereof may choose a reasonably comparable
substitute in its sole discretion.

     If any monthly installment or other payment under this note is not received
by the holder hereof within 5 calendar days after the  installment or payment is
due, the  undersigned  agrees to pay the holder hereof a late charge of 5.00% of
such delinquent installment and/or payment.

     The  undersigned  may prepay  this note in whole,  or in part,  at any time
without penalty.

     The  undersigned  hereby  represents  and warrants to the holder  hereof as
follows:

(1)  That Stock Market Institute of Learning,  Inc., formerly known as Wade Cook
     Services,  Inc., is a corporation  duly organized and existing  pursuant to
     the laws of the State of Nevada, has paid all fees last due said State, and
     is  in  good  standing  therewith;   and  that  Evergreen  Lodging  Limited
     Partnership is a limited  partnership duly organized and existing  pursuant
     to the laws of the State of Nevada,  has paid all fees last due said State,
     and is in good  standing  therewith;  that Five Star  Consulting,  Inc is a
     corporation  duly organized and existing  pursuant to the laws of the State
     of Nevada,  has paid all fees last due said State,  and is in good standing
     therewith,  and is the sole general  partner of Evergreen  Lodging  Limited
     Partnership;  and that the parties signing for the foregoing  entities have
     good and  sufficient  authority  to bind  such  entities  to the  terms and
     conditions  of  this  note  as  well as any  other  documents  executed  in
     connection with the loan that is the subject hereof;

(2)  That the proceeds of this note will be used  exclusively for commercial and
     business purposes only;



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(3)  That this  transaction  has been negotiated and consummated in the State of
     Washington;

(4)  That  all  documents   executed  and  delivered  in  connection  with  this
     transaction have been executed and delivered in the State of Washington;

(5)  That the laws of the State of  Washington  shall  govern the  validity  and
     construction of this note; and

(6)  That the undersigned  have received an opinion of independent  counsel that
     the loan  represented  by this note is not  usurious  under the laws of the
     State of Washington.

     The whole sum of both  principal and interest of this note shall be due and
payable in full,  without further notice,  at the option of the holder hereof in
the event that any of the security for this note,  or any part  thereof,  or any
interest therein, is directly or indirectly, voluntarily or involuntarily, sold,
transferred,  exchanged, or pledged in any way and any of such events shall be a
default under the terms and conditions of this note.

     In the event of a default in the  payment of this note,  or in the event of
any other  default  under the terms  and  conditions  of this note as  described
herein,  the whole sum of both  principal  and  interest  shall  become  due and
payable at once without  further notice at the option of the holder hereof,  and
after any such  default,  this note  shall  bear  interest  at the rate which is
20.00% per annum higher than the interest rate  otherwise  charged in connection
with this Note,  or 36.00% per annum,  whichever is higher.  If by reason of any
default it becomes  necessary for the holder or this note to employ an attorney,
of if an action is  instituted,  the  undersigned  promises  to pay the costs of
collection,  including reasonable  attorney's fees, and agrees, at the option of
the  holder  hereof,  that the  venue of any such  action  shall be laid in King
County,  Washington,  or, at the option of the holder hereof,  in such county or
counties  in which any  security  for this note may be  located.  Failure of the
holder hereof to accelerate  payment of this note shall not  constitute a waiver
of the  exercise  of this right if  default  is not cured or if the  undersigned
again defaults.

     Each and every party to this note, and all persons now or hereafter  liable
for the payment or performance of any of the conditions  hereof,  shall be bound
jointly and severally, and hereby waive presentment,  demand, protest and notice
of  nonpayment  of this note,  and consent that the holder hereof may extend the
time of payment or otherwise modify the terms of payment of any part or whole of
the debt evidenced by this note at the request of any party liable  herein,  and
agree that such consent  shall in no way alter or diminish any  liability of any
party hereon.

     This note is secured by a Deed of Trust of even date on  property in Pierce
County,  Washington,  Assignments  of Deeds of Trust in King and Pierce  County,
Washington, and Ada County, Idaho, as well as a Security Agreement of even date.

                                    STOCK MARKET INSTITUTE OF LEARNING, INC.,
                                    formerly known as Wade Cook Seminars, Inc.

                                    by:  /s/Wade B. Cook
                                         ---------------------------------------
                                         Wade B. Cook, President


                                    EVERGREEN LODGING LIMITED PARTNERSHIP
                                    by:  Five Star Consulting, Inc.,
                                         a Nevada corporation,
                                         General Partner

                                    by:  /s/Wade B. Cook
                                         ---------------------------------------
                                         Wade B. Cook, Presiden


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Source: OneCLE Business Contracts.