Bank of America                                         Borrowing Base Agreement
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     1. BORROWING BASE The aggregate  principal  amount of all amounts from time
to time advanced  pursuant to the terms of that  promissory note dated March 29,
2000 in the principal amount of $1,000,000.00 (the  "Note") shall not exceed the
Maximum Amount.

     "Maximum  Amount" shall mean the lesser of  $1,000,000.00  or the Borrowing
Base.  The  "Borrowing  Base" at any  time,  shall  be equal to 50% of  Eligible
Accounts Receivable:

     As used  herein,  "Eligible  Accounts  Receivable"  shall mean all accounts
receivable of RARA, RAWOW, BAC, RAWL, and PRAC (collectively,  the "A/R Owners")
which have been  created in the  ordinary  course of business and upon which A/R
Owners'right  to  receive  payment  is  absolute  and not  contingent  upon  the
fulfillment of any condition whatsoever, and shall not include:

          any account  which is unpaid  more than 90 days from the invoice  date
     thereof;

          any accounts subject to any cash or non-cash offset.;

          any contra accounts;

          and any  account on which the Bank is not or does not  continue to be,
     in the Bank's sole  discretion,  satisfied with the credit  standing of the
     Customer of A/R Owners in relation to the amount of credit extended.

     "Customers"  shall  mean the  account  debtors  obligated  on the  Accounts
Receivables.

     "Accounts  Receivables"  shall  mean  all  of  the  A/R  Owners'  accounts,
instruments,  contract rights,  chattel paper, document, and general intangibles
arising  from the sale of goods  and/or the  rendition  of  services  by the A/R
Owners in the  ordinary  course of business,  and the  proceeds  thereof and all
security and guaranties  therefore,  whether now existing or hereafter  created,
and all  returned,  reclaimed or  repossessed  goods,  and all books and records
pertaining to the foregoing.

     2. ADVANCES.  The amounts of advances under the Note shall be determined in
the sole  discretion  of the Bank  consistent  with  the  value of the  Eligible
Accounts  Receivable,  taking into account all fluctuations of the value thereof
in light of the Bank's experience and sound business principles.  The Bank shall
be  under no  obligation  to make any  advance  to  Borrower  in  excess  of the
limitations stated above.
<PAGE>
     3. REPORTING.  In addition to any reporting requirements required under the
Loan Agreement to which this  Borrowing Base Addendum is attached,  the Borrower
will submit the following in form and substance satisfactory to Bank:

          ACCOUNTS  RECEIVABLE AGING. Not later than 45 days after and as of the
     end of each  quarter,  a listing of accounts  receivable  aged from date of
     invoice.

          BORROWING BASE. Not later than 45 days after and as of the end of each
     quarter, a completed borrowing base certificate.

     4.  MANDATORY  PAYMENT  In the event the  aggregate  principal  outstanding
balance of advances  under the Note exceed the Maximum  Amount,  Borrower  shall
immediately  and  without  notice or demand of any kind,  make such  payments as
shall be necessary to reduce the principal balance of the Note below the Maximum
Amount.

Borrower: Rent-A-Wreck of America, Inc.

By:   /s/ Kenneth L. Blum Jr.                 (Seal)
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Name:
      ----------------------------------------
Title:
      ----------------------------------------

Borrower: Rent-A-Wreck One Way, Inc.

By:   /s/ Kenneth L. Blum, Jr.                (Seal)
      ----------------------------------------
Name:
      ----------------------------------------
Title:
      ----------------------------------------

Borrower: Bundy American Corporation

By:   /s/ Kenneth L. Blum, Jr.                (Seal)
      ----------------------------------------
Name:
      ----------------------------------------
Title:
      ----------------------------------------

Borrower: Rent-A-Wreck Leasing, Inc.

By:  /s/ Kenneth L. Blum, Jr.                 (Seal)
      ----------------------------------------
Name:
      ----------------------------------------
Title:
      ----------------------------------------

Borrower: PRICELESS Rent-A-Car, Inc.

By:   /s/ Kenneth L. Blum, Jr.                (Seal)
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Name:
      ----------------------------------------
Title:
      ----------------------------------------

Bank:

Bank of America

By:   /s/
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Name: Patrick Moore
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Title: Vice President
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<PAGE>
BANK OF AMERICA                                       BORROWING BASE CERTIFICATE
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Status as of_____________,2000

In accordance with the terms of the Borrowing Base Agreement attached as Exhibit
A to that Loan Agreement dated March ___, 2000, by and between Rent-A-Wreck of
America, Inc., Rent-A-Wreck One Way, Inc., Bundy American Corporation,
Rent-A-Wreck Leasing, Inc., PRICELESS Rent-A-Car, Inc., and Bank of America,
N.A., we hereby represent and warrant as follows:

1. Total Accounts Receivable                   $
                                               --------------------

2. Less ineligible accounts receivable
   (as set forth in the Borrowing
   Base Agreement)                            -$
                                               --------------------

3. Net Accounts Receivable                     $
                                               --------------------

4. a. 50% of Eligible Accounts
      Receivable                              x$
                                               --------------------

   b. Total Available                          $
                                               --------------------

5. Maximum loan amount                         $1,000,000.00
                                               --------------------

6. Outstanding balance as of report
   date                                        $1,000,000.00(L/C)
                                               --------------------

7. Bank of America Certificate of

   Deposit                                     $ 600,000.00
                                               --------------------

8. Available for further advances
   (lesser of line 4b plus line 7 or           $
   line 5 minus line 4b plus line 7)
                                               --------------------
<PAGE>
Borrower:

Rent-A-Wreck of America, Inc.

By: /s/ Mitra Ghahramanlou
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Rent-A-Wreck One Way, Inc.

By: /s/ Kenneth L. Blum, Jr.
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Bundy America Corporation

By: /s/ Kenneth L. Blum, Jr.
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Rent-A-Wreck Leasing, Inc.


By: /s/ KENNETH L. BLUM, JR.
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PRICELESS Rent-A-Car, Inc

By: /s/ KENNETH L. BLUM, JR.
    ----------------------------------------