<PAGE>

                                                                    EXHIBIT 10.9

               AMENDED AND RESTATED LOAN AND SECURITY AGREEMENT
               ------------------------------------------------

     THIS AMENDED AND RESTATED LOAN AND SECURITY AGREEMENT (the "Agreement") is
dated March __, 2001, among HOLIDAY RV SUPERSTORES, INC., ("Holiday RV"), a
Delaware corporation, HOLIDAY RV SUPERSTORES OF SOUTH CAROLINA, INC., a South
Carolina corporation, HOLIDAY RV SUPERSTORES WEST, INC., a California
corporation, COUNTY LINE SELECT CARS, INC., a Florida corporation, ("County
Line") and HOLIDAY RV SUPERSTORES OF NEW MEXICO, INC., a New Mexico corporation,
(singularly, a "Borrower," collectively, "Borrowers"), and BANC OF AMERICA
SPECIALTY FINANCE, INC., a North Carolina corporation ("Specialty") and BANK OF
AMERICA, N.A., a national banking association (the "Bank") (Specialty and the
Bank are collectively the "Lender").

                                  WITNESSETH:
                                  ----------

     WHEREAS, the Borrowers and Lender and/or its affiliates are parties to the
following credit facilities:

     Holiday RV executed a Floor Plan Agreement with addenda (the "Holiday RV
Agreement"), Floor Plan Promissory Note, Floor Plan Security Agreement, and UCC-
1 Financing Statement on or about April 15, 1998. Holiday RV executed a renewal
Floor Plan Promissory Note in the original principal amount of $25,000,000.00,
and an Amendment and addendum to the Holiday RV Agreement on or about February
1, 1999. A Floor Plan Participation Plan Amendment was executed on January 22,
1999 and an Amendment to the Holiday RV Agreement and Floor Plan Security
Agreement were executed on November 16, 1999.

     On or about August 23, 2000, Holiday RV executed an Allonge and Amendment
and addenda to the Holiday RV Agreement. On or about August 23, 2000, County
Line, Holiday RV Superstores of South Carolina, Inc, Holiday RV Superstores
West, Inc., Holiday RV Superstores of New Mexico, Inc., and Holiday RV
Rentals/Leasing, Inc. each executed a Continuing and Unconditional Guaranty (the
"Holiday RV Guaranties") and UCC-1 Financing Statements. The aforesaid documents
and any other related documents, as amended, executed by any of the Borrowers
prior to the date set forth above in favor of Lender are collectively called the
"Existing Holiday RV Documents."

     The obligations of the Borrowers under the Existing Holiday RV Documents
are secured by the Bank's first lien in, among other property, all of their
presently or later acquired inventory of new and used recreational vehicles, new
and used boats, and the proceeds of the foregoing inventory financed in whole or
in part by Lender, including all cash, accounts, general intangibles, documents,
and inventory relating thereto (the "Holiday RV Collateral").

     County Line is indebted and liable to the Fleetwood Credit Corp.
("Fleetwood") pursuant to the Wholesale Financing and Security Agreement dated
August 31, 1998, as amended (the "County Line Agreement"). The County Line
Agreement, in part, grants Fleetwood, an affiliate of Lender, a first lien in,
among other property, all new and used recreational vehicles and the proceeds of
the foregoing inventory financed in whole or in part by Lender, including

                                       1
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all cash, accounts, general intangibles, documents, and inventory relating
thereto (the "County Line Collateral"). County Line executed a UCC-1 Financing
Statement and that document and Statement of Changes have been filed of record.
On June 1, 2000, Holiday RV executed in favor of Fleetwood a General Continuing
Guaranty of County Line's obligations under the County Line Agreement (the
"Fleetwood Guaranty"). The foregoing documents and any other documents executed
by County Line and any of the other Borrowers prior to the date set forth above
are collectively called the "Existing County Line Documents."

     The Borrowers' right to receive advances under the credit facilities
pursuant to the Existing Holiday RV Documents and Existing County Line Documents
expired on January 31, 2001, but pursuant to a forbearance letter agreement
between the Bank and Fleetwood and the Borrowers, the Borrowers were permitted
to obtain limited advances as authorized thereunder through February 23, 2001.

     WHEREAS, the Borrowers have requested an amended and restated credit
facility from Lender, and Lender has agreed to provide such facility on the
terms set forth herein.

     WHEREAS, Lender has fully satisfied all of its obligations under the letter
agreement dated December 7, 1998 regarding payment of the initiation fee (the
"initiation fee") by crediting $250,000.00 to the principal amounts owed by the
Borrowers to Lender under the Holiday RV Existing Documents.

     WHEREAS, the credit facility provided by Fleetwood to County Line has been
assigned to Lender. A portion of the credit facility provided by the Bank to
Holiday RV has been assigned to Specialty.

     WHEREAS, this Agreement is intended to amend and restate (but not novate)
the Holiday RV Agreement, as it may have been amended, or the County Line
Agreement, as it may have been amended.

     NOW, THEREFORE, for valuable consideration, the receipt and sufficiency of
which is hereby acknowledged, the parties hereto agree as follows:

                                   ARTICLE I

     1.00.  Recitals and Restatement.  The above-stated recitals are restated as
            ------------------------
if fully incorporated herein. This Agreement hereby amends, restates, and
supercedes the Holiday RV Agreement and the County Line Agreement, except for
the pledges made therein.

                                  DEFINITIONS
                                  -----------

     1.01.  Definitions.  All terms used herein which are defined in Article 1,
            -----------
Article 8, or Article 9 of the Florida Uniform Commercial Code (as amended from
time to time, "Florida UCC") shall have the meanings given therein unless
otherwise defined in this Agreement. All references to the plural herein shall
also mean the singular and to the singular shall also mean the plural unless the
context otherwise requires. All references to Borrowers and Lender, or to any
other person herein, shall include their respective successors and assigns. The
words "hereof,"

                                       2
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"herein," "hereunder," "this Agreement" and words of similar import when used in
this Agreement shall refer to this Agreement as a whole and not any particular
provision of this Agreement and as this Agreement now exists or may hereafter be
amended, modified, supplemented, extended, renewed, restated or replaced. The
word "including" when used in this Agreement shall mean "including, without
limitation." An Event of Default shall exist or continue or be continuing until
such Event of Default is waived by Lender in writing or is cured in a manner
satisfactory to Lender, if such Event of Default is capable of being cured as
determined by Lender. Any accounting term used herein unless otherwise defined
in this Agreement shall have the meanings customarily given to such term in
accordance with GAAP. As used in this Agreement, the following terms have the
respective meanings indicated below:

     "Accounts" mean accounts as described in Exhibit 1 attached hereto and as
      --------
defined in the Florida UCC.

     "Advance" means an advance made by Lender to Borrowers pursuant to Section
      -------
2.01 hereof.

     "Affiliate" means a Person that directly, or indirectly through one or more
      ---------
intermediaries, controls or is controlled by or is under common control with
another Person.

     "Approved Vendor" means a manufacturer or vendor that is (a) requested by a
      ---------------
Borrower to Lender, in writing, for establishment of a direct floor plan funding
arrangement under this Agreement, and (b) approved by Lender.

     "Borrowers" mean Holiday RV Superstores, Inc., Holiday RV Superstores of
      ---------
South Carolina, Inc., Holiday RV Superstores West, Inc., County Line Select
Cars, Inc., and Holiday RV Superstores of New Mexico, Inc., jointly and
severally; all references to Borrowers as used herein shall mean each Borrower
and all of the Borrowers, individually and collectively, jointly and severally.

     "Business Day" means a day of the year on which banks are open for business
      ------------
in Tampa, Florida.

     "Cash Interest" means, calculated for Borrowers and the Subsidiaries on a
      -------------
consolidated basis, interest payments made from cash, plus amounts paid or
scheduled to be paid on funded debt (including interest under this Agreement),
all determined in accordance with GAAP.

     "Capital Lease" means any capital lease or sublease, as defined in
      -------------
accordance with GAAP.

     "Change in Control" means an acquisition by any person or entity of more
      -----------------
than 20% of the beneficial ownership of the voting stock of any Borrower or
Subsidiary, except acquisitions consummated after receipt of Lender's prior
written consent.

     "Chattel Paper" means chattel paper as described in Exhibit 1 attached
      -------------
hereto and as defined in the Florida UCC.

     "CMLTD" means calculated for Borrowers and the Subsidiaries on a
      -----
consolidated basis,

                                       3
<PAGE>

current maturities of long debt that is due and payable during the current
reporting period, determined in accordance with GAAP.

     "Collateral" has the meaning set forth in Section 4.01 hereof.
      ----------

     "Committed Advance" means an unfunded approval that has been issued to an
      -----------------
Approved Vendor by Lender, pursuant to which Lender commits to fund a Borrower's
obligations under a purchase order submitted by a Borrower to such Approved
Vendor.

     "Commitment" means the sum of the following for the Borrowers on a
      ----------
consolidated basis: (a) the lesser of $37,500,000.00 for the period through and
including February 28, 2001, $29,750,000.00 for the period March 1, 2001 through
and including April 30, 2001, and $21,250,000.00 from and after May 1, 2001, or
the sum of (i) 100% of the manufacturer invoice (including freight charges) of
Eligible New Inventory that is aged less than 180 days from original date of
delivery to any Borrower, plus (ii) 90% of the manufacturer invoice (including
freight charges) of Eligible New Inventory that is aged more than 180 days, but
not more than 270 days, from original date of delivery to any Borrower, plus
(iii) 85% of the manufacturer invoice (including freight charges) of Eligible
New Inventory that is aged more than 270 days, but not more than 360 days, from
original date of delivery to any Borrower, plus (iv) 80% of the manufacturer
invoice (including freight charges) of Eligible New Inventory that is aged more
than 360 days but not more than 450 days, from original date of delivery to any
Borrower, plus (v) 75% of the manufacturer invoice (including freight charges)
of Eligible New Inventory that is aged more than 450 days but not more than 540
days, from original date of delivery to any Borrower, plus (b) the lesser of
$7,000,000.00 for the period through and including February 28, 2001,
$5,250,000.00 for the period March 1, 2001 through and including April 30, 2001,
and $3,750,000.00 from and after May 1, 2001, or the sum of (i) 80% of NADA
Wholesale Value of Eligible Used Inventory that is not more than seven model
years old and that has been held for not more than 180 days from original date
of delivery to any Borrower, plus (ii) 70% of the NADA Wholesale Value of
Eligible Used Inventory that is not more than seven model years old and that has
been held for more than 180 days, but not more than 270 days, from original date
of delivery to any Borrower plus, (iii) 65% of the NADA Wholesale Value of
Eligible Used Inventory that is not more than seven model years old and that has
been held for more than 270 days, but not more than 360 days, from original date
of delivery to any Borrower, plus (iv) 65% of the NADA Wholesale Value of
Eligible Used Inventory that is more than seven model years old, and not more
than nine model years old, and that has been held for not more than 180 days
from original date of delivery to any Borrower, plus (v) 55% of the NADA
Wholesale Value of Eligible Used Inventory that is more than seven model years
old and not more than nine model years old, and that has been held for more than
180 days, but not more than 270 days, from original date of delivery to any
Borrower, plus (vi) 50% of the NADA Wholesale Value of Eligible Used Inventory
that is more than seven model years old, and not more than nine model years old,
and that has been held for more than 270 days, but not more than 360 days, from
original date of delivery to any Borrower.

     "Compliance Certificate" means a signed certificate of the chief financial
      ----------------------
officer or chief executive officer of Borrowers in form and substance
satisfactory to Lender, (a) certifying that such officer has no knowledge that a
material Default or material Event of Default has occurred and is continuing, or
if a material Default or material Event of Default has occurred and is
continuing, a statement as to the nature thereof and the action being taken or
proposed to be taken with respect

                                       4
<PAGE>

thereto, and (b) setting forth detailed calculations with respect to the
covenants described in Section 6.01 hereof.

     "Contingent Liability" means, as to any Person, any obligation, contingent
      --------------------
or otherwise, of such Person guaranteeing or having the economic effect of
guaranteeing any Debt or obligation of another in any manner, whether directly
or indirectly, including without limitation any obligation of such Person,
direct or indirect, (a) to purchase or pay (or advance or supply funds for the
purchase or payment of) such Debt or any security for the payment of thereof,
(b) to purchase Property or services for the purpose of assuring the owner of
such Debt of its payment, or (c) to maintain the solvency, working capital,
equity, cash flow, fixed charge or other coverage ratio, or any other financial
condition of the primary obligor so as to enable the primary obligor to pay any
Debt or to comply with any agreement relating to any Debt or obligation.

     "Debt" means all obligations, contingent or otherwise, which in accordance
      ----
with GAAP should be classified on the balance sheet as liabilities, and in any
event including Capital Leases, Contingent Liabilities that are required to be
disclosed and quantified in notes to financial statements in accordance with
GAAP, and liabilities secured by any Lien on any Property, regardless of whether
such secured liability is with or without recourse.

     "Debt to Tangible Net Worth Ratio" means the ratio, calculated for
      --------------------------------
Borrowers and the Subsidiaries on a consolidated basis, of Debt to Tangible Net
Worth, all determined in accordance with GAAP.

     "Default" means any event specified in Section 7.01 hereof, for which any
      -------
requirement for the giving of notice or lapse of time has not yet been
satisfied.

     "Deposit Accounts" mean deposit account as described in Exhibit 1 attached
      ----------------
hereto.

     "Documents" mean documents as described in Exhibit 1 attached hereto and as
      ---------
defined in the Florida UCC.

     "EBITDA" means, calculated for Borrowers and the Subsidiaries on a
      ------
consolidated basis, total earnings before interest (including interest under
this Agreement), taxes, depreciation and amortization, all determined in
accordance with GAAP.

     "Eligible New Inventory" means Inventory of any Borrower that (a) is
      ----------------------
subject to a perfected, first priority Lien in favor of Lender, free from any
other Lien other than those acceptable to Lender in its sole discretion, (b) is
located at a Borrower's facility, or was delivered to a retail purchaser within
the last three business days, or was delivered within the last three business
days under a purchase agreement for a lease transaction, (c) does not constitute
Used Inventory, and (d) otherwise constitutes collateral reasonably acceptable
to Lender for borrowing purposes.

     "Eligible Used Inventory" means Used Inventory that (a) is subject to a
      -----------------------
perfected, first priority Lien in favor of Lender, free from any other Lien
other than those acceptable to Lender in its sole discretion, (b) is located at
a Borrower's facility, or was delivered to a retail purchaser within the last
three business days, or was delivered within the last three business days under
a purchase agreement for a lease transaction, (c) does not constitute Eligible
New Inventory, and (d)

                                       5
<PAGE>

otherwise constitutes collateral reasonably acceptable to Lender for borrowing
purposes. Used Inventory that has been acquired by a non-Borrower Subsidiary as
a trade-in and subsequently is transferred to a Borrower and becomes part of the
Collateral shall constitute Eligible Used Inventory. Used Inventory that that
been acquired by a non-Borrower Subsidiary as a trade-in and simply moved to the
location of a Borrower shall not constitute Eligible Used Inventory.

     "Environmental Law" means any Law or other authorization or requirement of
      -----------------
any Governmental Body relating to actual or threatened emissions, discharges or
releases of pollutants, contaminants, or hazardous or toxic materials, or
otherwise relating to pollution or the protection of the environment.

     "Equipment" means equipment as described in Exhibit 1 attached hereto and
      ---------
as defined in the Florida UCC.

     "ERISA" means the Employee Retirement Income Security Act of 1974, as
      -----
amended, and the rulings and regulations issued thereunder, as from time to time
in effect.

     "Event of Default" means any of the events specified in Section 7.01 of
      ----------------
this Agreement, provided any requirement for the giving of notice or lapse of
time has been satisfied.

     "GAAP" means generally accepted accounting principles applied on a
      ----
consistent basis.

     "General Intangibles" means general intangibles as described in Exhibit 1
      -------------------
attached hereto and as defined in the Florida UCC.

     "Goods" mean goods as described in Exhibit 1 attached hereto and as defined
      -----
in the Florida UCC.

     "Governmental Body" means any governmental official, or state,
      -----------------
commonwealth, federal, foreign, territorial, or other court or governmental
body, including any subdivision, agency, department, commission, board, bureau
or instrumentality.

     "Guaranties" mean the guaranties delivered to Lender by Guarantors, as
      ----------
amended or modified from time to time with Lender's written consent.

     "Guarantors" mean as of the date hereof Holiday RV Rental/Leasing, Inc., a
      ----------
Florida corporation, Little Valley Auto & RV Sales, Inc., a West Virginia
corporation, Hall Enterprises, Inc., a Kentucky corporation, Holiday RV
Assurance Service, Inc., an Arizona corporation, Holiday RV's Insurance Agency,
Inc., an Arizona corporation, and Recreation USA Insurance Corporation, a
Florida corporation. A material inducement to the Bank entering into this
Agreement is the execution by the Guarantors hereof acknowledging and joining in
this Agreement. For valuable consideration, which is hereby acknowledged,
including but not limited to the direct economic benefits and indirect and
intangible benefits which the Guarantors receive due to the Borrowers' ability
to obtain advances under this Agreement. In addition, the Holiday RV Guaranties
and Fleetwood Guaranty shall remain in full force and effect. Guarantors also
shall mean any subsequent Subsidiary or Affiliate of any of the Borrowers which
is required to execute a Continuing and Unconditional Guaranty pursuant to this
Agreement.

                                       6
<PAGE>

     "Hazardous Materials" means any substances or materials subject to any
      -------------------
Environmental Law, including without limitation materials listed in 49 C.F.R.
'172.101, hazardous waste as defined in the Clean Water Act, 33 U.S.C. '1251 et
                                                                             --
seq., the Comprehensive Environmental Response Compensation and Liability Act,
---
42 U.S.C. '9601 et seq., the Resource Conservation Recovery Act, 42 U.S.C. '
                -- ---
6901 et seq. or the Toxic Substances Control Act, 15 U.S.C. '2601 et seq.,
     -- ---                                                       -- ---
explosive or radioactive materials, hazardous or toxic wastes or substances,
petroleum or petroleum distillates, asbestos or material containing asbestos, or
any other materials or substances designated as hazardous or toxic under any
federal, state or local Law.

     "Instruments" mean instruments as described in Exhibit 1 attached hereto
      -----------
and as defined in the Florida UCC.

     "Interest Payment Date" means the 10th day of each calendar month,
      ---------------------
commencing March 10, 2001.

     "Inventory" means as described in Exhibit 1 attached hereto and as defined
      ---------
in the Florida UCC, including all inventory and goods held for sale or lease in
the ordinary course of business, raw materials, work in process, and materials
used or consumed in the business; returned and repossessed goods; replacements
and substitutions therefor; and parts, additions and accessions relating
thereto.

     "Investment" means any acquisition of all or substantially all assets of
      ----------
any Person, or any acquisition of, or beneficial interest in, partnership or
membership interests, capital stock or other securities of any Person, or any
advance or capital contribution to or other investment in any Person.

     "Investment Property" means investment property as described in Exhibit 1
      -------------------
attached hereto and as defined in the Florida UCC.

     "Law" means any law, regulation, order or decree of any Governmental Body.
      ---

     "Lender" means Bank of America Specialty Finance, Inc., a North Carolina
      ------
corporation and/or Bank of America, N.A., a national banking association.

     "License" means any license, permit or other authorization by any
      -------
Governmental Body or third Person necessary or appropriate for any Borrower or
Subsidiary to own or operate their businesses or Properties.

     "Lien" means any security interest, lien, pledge, encumbrance, charge or
      ----
adverse claim of any kind, including without limitation any agreement to give or
not to give any lien, or any conditional sale or other title retention
agreement.

     "Litigation" means any proceeding, claim or investigation by or before any
      ----------
Governmental Body.

     "Loan Papers" mean this Agreement, the Guaranties, and all financing
      -----------
statements,

                                       7
<PAGE>

certificates, instruments and agreements delivered by any Person hereunder, as
they are modified or extended in accordance with their terms.

     "Marketable Securities" mean (a) stocks that are registered on a national
      ---------------------
securities exchange, (b) debt securities that are convertible into stocks that
are registered on a national securities exchange, and (c) shares of mutual
funds.

     "Material Adverse Change" means a material and adverse change in the
      -----------------------
financial condition, Properties or business operations, taken as a whole.

     "NADA Wholesale Value" means the wholesale value published in the most
      --------------------
recent NADA Recreational Vehicle Guide.

     "Net Margin" means net income after Taxes divided by net sales, all as
      ----------
determined in accordance with GAAP.

     "Operating Lease" means any operating lease or sublease, as defined in
      ---------------
accordance with GAAP.

     "Person" means an individual, partnership, joint venture, corporation,
      ------
limited liability company, trust, Governmental Body, association, unincorporated
organization or other entity.

     "Plan" means any single employer plan, multiple employer plan or multi-
      ----
employer plan, within the meaning of ERISA, established by any Borrower or any
Subsidiary, or otherwise maintained at any time for any of Borrowers' or any
Subsidiaries' employees.

     "Prime Rate" means the rate of interest publicly announced from time to
      ----------
time by Bank of America, N.A., or its successor or assigns as its Prime Rate.
The Prime Rate is set by Bank of America, N.A. based on various factors,
including Bank of America, N.A.'s costs and desired return, general economic
conditions and other factors, and is used as a reference point for pricing some
loans. Bank of America, N.A., may price loans to its customers at, above, or
below the Prime Rate. Any change in the Prime Rate shall take effect at the
opening of business on the day specified in the public announcement of a change
in Bank of America, N.A.'s Prime Rate.

     "Property" means all types of real, personal, tangible or intangible
      --------
property.

     "Retail Paper" means chattel paper and other instruments arising from any
      ------------
Borrower's sale or lease of goods or provision of services in the ordinary
course of business.

     "Rights" means rights, remedies, powers and privileges.
      ------

     "Sale of Unit" means the earlier of: (a) the point in time when an item of
      ------------
Inventory is sold to the consumer and the Borrower has received cash, a
cashier's check, or a commitment from the customer's lender in amounts, when
added to any down payment, deposit or trade-in allowance, equals the purchase
price of the item, or (b) when the Borrower delivers possession of the item of
inventory to its customer. The Borrower shall have the customer execute and date
a "delivery receipt" in the form acceptable to Lender at the time of sale of the
unit and contemporaneously

                                       8
<PAGE>

provide the delivery receipt to Lender.

     "Solvent" means, with respect to any Person, that on such date (a) the fair
      -------
value of the Property of such Person is greater than the total amount of
liabilities (including Contingent Liabilities) of such Person, (b) the present
fair salable value of the assets of such Person is not less than the amount that
will be required to pay the probable liability of such Person on its debts as
they become absolute and matured, (c) such Person does not intend to, and does
not believe that it will, incur debts or liabilities beyond such Person's
ability to pay as such debts and liabilities mature, and (d) such Person is not
engaged in business or a transaction, and is not about to engage in business or
a transaction, for which such Person's Property would constitute an unreasonably
small capital.

     "Subsidiary" means, as to any Person, any corporation or limited liability
      ----------
company at least 50% of whose securities or other equity interests having
ordinary voting power (other than securities or other equity interests having
such power only by reason of happening of a contingency) are owned by such
Person, or one or more Subsidiaries of that Person, or a combination thereof,
(collectively, the "Subsidiaries"). As of the date hereof, the Subsidiaries of
Holiday RV are: (a) the Borrowers other than Holiday RV and (b) Holiday RV
Rental/Leasing, Inc., a Florida corporation, Little Valley Auto & RV Sales,
Inc., a West Virginia corporation, Hall Enterprises, Inc., a Kentucky
corporation, Holiday RV Assurance Services, Inc., an Arizona corporation,
Holiday RV's Insurance Agency, Inc., an Arizona corporation, and Recreation USA
Insurance Corporation, a Florida corporation.

     "Tangible Net Worth" means, calculated for Borrowers and the Subsidiaries
      ------------------
on a consolidated basis, shareholders' equity determined in accordance with
GAAP, minus items treated as intangibles under GAAP, prepaid expenses,
manufacturer receivables, deferred taxes, leasehold improvements, goodwill,
deposits, amounts owing to Borrowers or any of the Subsidiaries by any employee,
officer or other Affiliate, and any other asset that cannot be identified as
tangible to Lender's satisfaction, all determined in accordance with GAAP.

     "Taxes" mean all taxes, assessments, fees or other charges imposed by any
      -----
Law or Governmental Body.

     "Termination Date" means November 30, 2001.
      ----------------

     "Used Inventory" means Inventory of any Borrower that (a) has been
      --------------
previously sold at retail, or (b) has been registered, documented or titled in
any state or jurisdiction, or (c) has been purchased or acquired by a Borrower
from a source other than the manufacturer, and (d) is not more than nine model
years old.

     "Working Capital" means, calculated for Borrowers and the Subsidiaries on a
      ---------------
consolidated basis, current assets minus current liabilities, determined in
accordance with GAAP.

                                  ARTICLE II

                                   ADVANCES
                                   --------

                                       9
<PAGE>

     2.01.  Advances.
            --------

            (a)  Each Borrower hereby acknowledges, confirms and declares that
as of 12:01 a.m. on March 8, 2001 that the principal amount of unpaid Advances
outstanding under the Existing Holiday RV Documents and the Existing County Line
Documents are $21,491,760.75 and $5,151,833.00, respectively, less a $250,000
credit against the principal sums due under the Existing Holiday RV Documents to
satisfy all obligations of the Bank to Holiday RV for the initiation fee, which
sums are hereby consolidated for a total combined principal amount of
$26,393,593.75, and such amount, together with any unpaid interest (accrued or
otherwise) and other costs or charges previously due and unpaid pursuant to the
Existing Holiday RV Documents and Existing County Line Documents, any promissory
note or other agreement executed in connection therewith, shall now become due
and owing hereunder (the "Current Balance"). Each Borrower hereby further
acknowledges, confirms and declares that the Current Balance is not subject to
any credits, offsets, deductions, defenses, claims, counterclaims or adjustments
of any kind or nature to the payment thereof. The Guarantors by executing this
Agreement, hereby acknowledge, confirm and declare that the Current Balance owed
by each of the Borrowers to Lender as set forth above are owed by each of the
Guarantors in accordance with the terms of each of their respective Guaranties,
without any credits, offsets, deductions, defenses, claims, counterclaims or
adjustments of any kind or nature to the payment thereof.

            (b)  Lender shall, subject to the terms and conditions set forth
herein, make Advances to the Borrowers from time to time until the Termination
Date, to fund the Borrowers' acquisition of Inventory. The Borrowers may borrow,
repay and re-borrow in accordance with this Agreement. In no event may total
outstanding Advances, plus all Committed Advances, exceed the Commitment.

            (c)  Lender will send to Borrowers statements from time to time
listing the amount of each Advance. If Borrowers do not agree with a statement,
they must immediately notify Lender in writing of the objections. Borrowers'
failure to notify Lender of an objection within 10 Business Days shall
constitute an acceptance of the statement.

            (d)  In lieu of a promissory note or other instrument evidencing the
indebtedness hereunder other than this Agreement, Lender will maintain records
reflecting Borrowers' outstanding indebtedness. Failure to make notation of any
Advance, however, will not affect the obligations of Borrowers. Entries in such
records will be presumed correct, absent manifest error.

     2.02.  Making Advances.  An Approved Vendor may contact Lender directly for
            ---------------
approvals constituting Committed Advances, and Lender will disburse the proceeds
of Advances under such approvals directly to the vendor. Borrowers shall notify
Lender at least one Business Day prior to any proposed Advance for Eligible Used
Inventory; such notification may be oral, but must be confirmed by telecopy or
in writing by the date of the Advance, and be accompanied by such information as
Lender may reasonably request to identify, value and locate the Eligible Used
Inventory. Advances for Eligible Used Inventory will be disbursed to Borrowers
to an account or address specified by Borrowers. Each date of borrowing must be
a Business Day.

                                       10
<PAGE>

     2.03.  Prepayment and Repayment of Advances.
            ------------------------------------

            (a)  Borrowers may terminate the Commitment, upon 30 days prior
written notice to Lender, and on the date specified for termination of the
Commitment, all outstanding Advances, accrued interest and charges, and other
amounts owing to Lender will be due and payable in full.

            (b)  On the Termination Date, all outstanding Advances, accrued
interest and charges, and other amounts owing to Lender will be due and payable
in full.

            (c)  In no event may the amount of outstanding Advances used for the
acquisition of Inventory (including Committed Advances for which the Borrowers
have received the applicable Inventory) exceed the current Commitment in the
aggregate. Borrowers shall immediately repay any principal amount advanced which
is in excess of the Commitment.

            (d)  Principal curtailments relating to Advances for Eligible New
Inventory shall be due as follows: the entire balance owed on a unit shall be
due upon the earlier of (A) three (3) business days from the receipt of proceeds
from the sale of a unit, or (B) two hundred forty (240) hours from the sale of a
unit, or (C) three (3) business days from the transfer or movement of the unit
from a Borrower to a Subsidiary that is not a Borrower hereunder, or (D) 730
days from the date of the Advance made as to any specific unit (irrespective of
a transfer or movement from one location to another). Until April 30, 2001, if
Eligible New Inventory has not been previously sold or transferred, three
percent (3%) of an Advance for Eligible New Inventory will be due and payable
390 days from the date of the Advance. From and after May 1, 2001, if Eligible
New Inventory has not been previously sold or transferred, three percent (3%) of
an Advance for Eligible New Inventory will be due and payable 390 days from the
date of the Advance with an additional three percent (3%) of the Advance due
every 30 days thereafter until 540 days from the date of the Advance, which time
any remaining sums due shall be immediately payable.

            (e)  Principal curtailments relating to Advances for Eligible Used
Inventory shall be due as follows: the entire balance owed on a unit shall be
due upon the earlier of (A) three (3) business days from the receipt of proceeds
from the sale of the unit, or (B) two hundred forty (240) hours from the sale of
a unit, or (C) three (3) business days from the transfer or movement of the unit
from a Borrower to a Subsidiary that is not a Borrower hereunder, or (D) 360
days from the date of the Advance made as to any specific unit (irrespective of
a transfer or movement from one location to another). If not previously sold or
transferred, ten percent (10%) of an Advance for Eligible Used Inventory will be
due and payable 180 days from the date of the Advance, and five percent (5%) of
an Advance for Eligible Used Inventory will be due and payable 270 days from the
date of the Advance.

            (f)  Borrowers acknowledge and agree that each is jointly, severally
and unconditionally liable for all Advances, accrued interest and charges and
all other amounts owing to Lender under this Agreement, regardless of which
entity requested the financing or received the funds. Lender is authorized (in
its sole discretion) to demand payment and performance of obligations hereunder
from any entity executing this Agreement, in any order. Lender may from time to
time modify, waive or release the obligations of any Borrower, release or impair
any

                                       11
<PAGE>

security for the performance of obligations of any such Borrower, or otherwise
take or omit to take any action with respect to any such Borrower or this
Agreement, in every case without affecting the liability of any other Borrower.

     2.04.  Interest on Advances.  Advances for Eligible New Inventory shall
            --------------------
bear interest at a per annum rate equal to Prime Rate plus 2.00%. Advances for
Eligible Used Inventory shall bear interest at a per annum rate equal to Prime
Rate plus 2.50%. Accrued interest is due and payable on each Interest Payment
Date. During the existence of an Event of Default prior to maturity of the
obligations to Lender or acceleration thereof, at the option of Lender, amounts
owing for Advances made for Eligible New Inventory shall bear interest at a per
annum rate equal to Prime Rate plus 6.00%, due and payable on demand. During the
existence of an Event of Default, at the option of Lender, amounts owing for
advances made for Eligible Used Inventory shall bear interest at a per annum
rate equal to Prime Rate plus 6.50%, due and payable on demand. After the
Termination Date and the Borrowers' failure to pay all sums due Lender under the
Loan Papers at that time or upon acceleration of the sums due thereunder due to
an Event of Default, the sums due to Lender under the Loan Papers shall bear
interest at the highest rate allowable under Florida law calculated on a 365 day
basis (the "Post-Acceleration and Maturity Default Rate").

     2.05.  Computations and Manner of Payments.  Except with respect to the
            -----------------------------------
Post-Acceleration and Maturity Date Default Rate, interest will be calculated on
a simple interest basis for a year of 365 days, based on actual days elapsed. If
any payment is due on a date that is not a Business Day, the due date will be
extended to the next Business Day. Lender may, at any time and without notice to
Borrowers, apply monies received in payment of Borrowers' obligations in such
order of application as Lender shall determine. All payments shall be made in
United States dollars and without set-off, counterclaim or other defense.
Borrowers specifically agree that they will not delay payment of any obligations
to Lender, or assert any defense or set-off with respect to said obligations, on
account of a dispute between the Borrowers and the vendor or manufacturer of any
Inventory.


                                  ARTICLE III

                             CONDITIONS PRECEDENT
                             --------------------

     3.01.  Conditions Precedent to Effectiveness.  The effectiveness of this
            -------------------------------------
Agreement is subject to fulfillment of the following conditions precedent:

            (a)  Lender shall be satisfied, in its reasonable discretion, with
each Borrower's and each Guarantor's financial condition, Properties, business,
affairs or prospects as of the effective date.

            (b)  Borrowers shall have executed and delivered to Lender all of
Borrowers' Loan Papers, in form and substance satisfactory to Lender. Each
Guarantor shall have delivered to Lender its Guaranty Agreement in the form and
substance satisfactory to Lender.

            (c)  Borrowers shall have executed and delivered such financing
statements and statements of changes and lien filings as Lender shall request to
record, evidence or perfect the

                                       12
<PAGE>

Liens granted to Lender under the Loan Papers. Lender shall have received such
UCC and Lien search reports as it shall deem appropriate to evidence that its
Liens on the Collateral are first priority Liens, subject only to other Liens
acceptable to Lender in its sole discretion. In addition, Borrowers agree that
the UCC-1, UCC-2, and UCC-3 Financing Statements and Statements of Change
presently filed of record, including but not limited to those listed on Exhibit
2 attached hereto, shall remain in full force and effect and shall be applicable
to the security interests granted in the prior Security Agreement and herein.

            (d)  Lender shall have received, in form and substance satisfactory
to Lender, all releases, terminations and such other documents as Lender may
request to evidence and effectuate the termination by all existing floor plan
lenders of their financial arrangements with Borrowers and the termination and
release by them of any interest in and to any Property of Borrowers, including,
but not limited to, landlord waivers, all duly authorized, executed and
delivered.

            (e)  Lender shall have received, in form and substance satisfactory
to Lender, all consents, waivers, acknowledgments and other agreements from
third persons which Lender may deem necessary or desirable in order to permit,
protect and perfect its security interests in and liens upon the Collateral or
to effectuate the provisions or purposes of this Agreement and the other
financing agreements, including acknowledgments by warehousemen of Lender's
security interests in the Collateral, waivers by such persons of any security
interests, liens or other claims by such persons to the Collateral and
agreements permitting Lender access to, and the right to remain on, the premises
to exercise its rights and remedies and otherwise deal with the Collateral.
Because the Borrowers have represented to Lender that it is not possible for
them obtain the landlord lien and mortgagee lien waivers before the execution of
this Agreement but such waivers can be obtained shortly thereafter; as an
accommodation to the Borrowers, Lender is not requiring the Borrowers to deliver
such lien waivers at the time of execution of this Agreement; provided, however,
the Borrowers agree and acknowledge that the Lender's receipt of executed lien
waivers is a material inducement for Lender making and continuing to fund
Advances under this Agreement.

            (f)  Lender shall have received a certificate of a duly authorized
officer of each Borrower, certifying that (i) no Default or Event of Default
exists, (ii) the representations and warranties set forth in Article V hereof
are true and correct in all material respects, and (iii) it has complied with
all agreements and conditions to be complied with by it under the Loan Papers by
such date.

            (g)  Lender shall have received a certificate of the secretary of
each Borrower and each Guarantor certifying (i) that attached copies of its
articles of incorporation, bylaws or other organizational documents are true and
complete, and in full force and effect, without amendment except as shown, (ii)
that an attached copy of resolutions authorizing execution and delivery of the
Loan Papers is true and complete, and that such resolutions are in full force
and effect, were duly adopted, have not been amended, modified, or revoked, and
constitute all resolutions adopted with respect to this loan transaction, and
(iii) to the incumbency, name and signature of each officer or representative
authorized to sign the Loan Papers on behalf of the entity. Lender may
conclusively rely on this certificate until it is otherwise notified by any
Borrower in writing.

            (g.5)  Notwithstanding the foregoing, the Borrowers shall have until
March 12, 2001 in which to reinstate Holiday RV Rental/Leasing, Inc. with the
Florida Secretary of State and

                                       13
<PAGE>

execute and deliver to Lender a Ratification of this Agreement and its
Continuing and Unconditional Guaranty, and with respect to Holiday R.V.
Insurance Agency, Inc., until March 26, 2001 in which to either (i) satisfy
Lender that said entity has not been in business for the past 12 months and
provide Lender with a written certification that they do not intend to reinstate
the corporation with the Arizona Secretary of State or (ii) reinstate said
corporation and execute and deliver to Lender a Ratification of this Agreement
and its Continuing and Unconditional Guaranty. The Ratification required
hereunder shall be in the form and content acceptable to Lender.

          (h)  Lender shall have received an opinion of counsel to Borrowers and
Guarantors (i) that each Borrower has full power and authority to execute and
deliver its Loan Papers; (ii) that the Loan Papers constitute the legal, valid
and binding respective obligations of each Borrower and Guarantors, enforceable
in accordance with their terms; and (iii) as to such other matters, and
otherwise in form and substance, satisfactory to Lender.

          (i)  Lender shall have received evidence of insurance as required
under Sections 4.03 and 6.09 hereof.

          (j)  Lender shall have received evidence satisfactory to it that each
Borrower and Guarantor is duly organized, validly existing and in good standing
in its jurisdiction of organization, and is duly qualified and in good standing
in all other appropriate jurisdictions.

          (k)  All proceedings of each Borrower and each Guarantor taken in
connection with the transactions contemplated hereby, and all documents
incidental thereto, shall be satisfactory in form and substance to Lender.
Lender shall have received copies of all documents or other evidence that it may
reasonably request in connection with such transactions.

          (l)  Holiday RV shall have in place at the time of execution of this
Agreement Corporate Cash Management Master Account with the Bank, Account No.
362040003, and Holiday RV and County Line shall have established at least one
depository account with the Bank into which substantially all of its funds must
be deposited except as otherwise permitted under Section 3.03 below, and each of
the other Borrowers shall, if not existing as of the date of execution hereof,
have established no later than March 26, 2001 at least one depository account
with the Bank into which substantially all of its funds must be deposited except
as otherwise permitted under Section 3.03 below.

          (m)  The Borrowers and/or Guarantors shall have paid the reasonable
attorneys' fees and costs (e.g., photocopying, mail, courier, facsimile, long
                           ----
distance telephone, and search fees) of Lender incurred in negotiating the Loan
Papers and transactions contemplated thereby, drafting the Loan Papers,
confirming satisfaction of conditions precedent, and closing the transactions
contemplated thereby, and all other reasonable expenses required to be paid in
connection with effectuating the transactions contemplated hereby, including
filing and recording fees and any stamp or other excise taxes applicable thereto
and not otherwise exempt by law.

    3.02. Requests for Advances. Each request for an Advance and each funding of
          ---------------------
an Advance by Lender (including the disbursement of an Advance directly to an
Approved Vendor) shall constitute a representation by Borrowers that on each of
the dates of the request and funding, the following are true:

                                       14
<PAGE>

             (a)  the representations and warranties contained in Article V
hereof are true and correct in all material respects on such date, as though
made on and as of such date, and

             (b)  no event has occurred or exists, or would result from such
Advance, that constitutes a Default or Event of Default.

Lender may condition any Advance upon Lender's receipt, in form and substance
acceptable to it, of such other information as it may deem necessary or
appropriate. Notwithstanding the foregoing, even if the foregoing conditions are
not satisfied on the applicable disbursement date, Lender may fund a Committed
Advance that was committed when such conditions were satisfied, without being
deemed to have waived any conditions precedent nor to have established any
course of dealing.

     3.03.   Specific Conditions Subsequent. Borrowers shall have until March
             ------------------------------
26, 2001, at 5:00 p.m. (eastern time) [time being of the essence] in which to
deliver lien waivers in the form and content acceptable to Lender which have
been executed by each landlord or mortgagee of the Borrowers who claims an
interest in any real estate upon which any Borrower maintains any Inventory.

     Each Borrower and each Guarantor shall maintain at all times during the
term of this Agreement its primary operating bank accounts with the Bank,
although, to the extent such borrowings are permitted by this Agreement, a
Borrower or Guarantor may also maintain a bank account with another floor plan
lender that has made a loan secured by inventory in the amount of at least one
million dollars ($1,000,000.00). The Borrowers shall maintain the Corporate Cash
Management Master Account with the Bank, Account No. 362040003, and all other
existing bank accounts with the Bank which are owned or controlled by any of the
Borrowers or Guarantors. The Borrowers and Guarantors shall not co-mingle the
proceeds of the Collateral with the proceeds of collateral pledged to another
person or entity. The Borrower and Guarantors shall pledge to Lender to secure
their obligations under the Loan Papers all of their right, title and interest
in and to the bank accounts maintained with the Bank and shall execute a pledge
in the form and content acceptable to Lender to further effectuate the same. The
Borrower and Guarantors further agree to execute a Deposit Account Control
Agreement with Lender and Specialty in the form and content acceptable to
Lender.

     In addition, the Borrowers shall deliver the Additional Collateral (defined
below) to Lender as required by Section 4.05 of this Agreement. (time is of the
essence).

     The Borrowers shall cause any Subsidiary or Affiliate not a party to this
Agreement to execute a Consent and Joinder to this Agreement in the form and
content acceptable to Lender and a Continuing and Unconditional Guaranty in the
form executed by the Guarantors as required by this Agreement pertaining to the
obligations of the Borrowers under this Agreement and deliver the same to Lender
within thirty (30) days of the Subsidiary or Affiliate becoming a Subsidiary or
Affiliate, along with the appropriate corporate resolutions of each new
Subsidiary or Affiliate in the form signed by the Guarantors as required by this
Agreement.

                                       15
<PAGE>

                                  ARTICLE IV

                               SECURITY INTEREST
                               -----------------

     4.01.  Security Interests in Collateral.  As security for all present and
            --------------------------------
future obligations of the Borrowers to Lender, whether or not arising under this
Agreement, and of whatever kind, now due or to become due, absolute or
contingent, joint or several, each Borrower hereby grants and pledges to Lender
a continuing security interest and Lien in and on the following assets and
property, whether now owned or hereafter acquired and wherever located, and all
replacements, additions, substitutions, proceeds and products thereof
(collectively, "Collateral"):

            (a)     all Accounts;

            (b)     all Chattel Paper;

            (c)     all Documents;

            (d)     all Equipment;

            (e)     all General Intangibles;

            (f)     all Goods;

            (g)     all Instruments;

            (h)     all Inventory, including but not limited to all goods,
merchandise and other personal property, now owned or hereafter acquired by any
Borrower which is held for sale or lease or furnished or to be furnished under a
contract for service or raw materials, and all work in progress and materials
used or consumed or to be used or consumed in the Borrower's business, including
but not limited to all new and used recreational vehicles, boats, and other
vehicles, and all keys, parts, returns, repossessions, replacements,
attachments, additions, and accessories relating to any of the foregoing;

            (i)     all fixtures and furniture;

            (j)     all amounts payable by, and rights and claims against, any
manufacturer or vendor of Inventory, such as volume purchase discounts,
advertising rebates, price protection, warranty work, finance reserves, hold-
backs, incentives and credits;

            (k)     all property of any Borrower now or hereafter in possession
of or under control of Lender, or any correspondent or Affiliate of Lender, in
any capacity whatsoever, including, but not limited to any deposit account and
any funds or balances in any checking or depository account or investment
account;

            (l)     all other property of whatever kind or nature (excluding
real estate), including but not limited to commercial tort claims;

                                       16
<PAGE>

            (m)     all insurance policies and proceeds relating to the
foregoing;

            (n)     all books and records relating to the foregoing.

     4.02.  Duties Relating to Collateral. So long as this Agreement is in
            -----------------------------
effect or any amounts are owing to Lender, Borrowers agree that they shall:

            (a)     Keep accurate and complete records of the Collateral; keep
all books and records relating to the Collateral at Borrowers' address specified
under or pursuant to Section 8.02 hereof or at the principal place of business
of the other Borrowers; and provide at least 30 days advance written notice to
Lender of any change in the location of any such books and records;

            (b)     Promptly report and pay all Taxes and other charges against
the Collateral; maintain a perfected, first priority Lien in favor of Lender in
the Collateral, subject only to other Liens permitted hereunder; and discharge
all other Liens that from time to time attach to or are asserted against the
Collateral;

            (c)     Pay all transportation and storage charges on the
Collateral; and pay all rents and other amounts, if any, for the use of premises
on which any of the Collateral is kept;

            (d)     Take all actions appropriate for the collection and
enforcement of Accounts, and for the perfection of any liens securing Accounts;
permit Lender upon reasonable request to contact Account obligors to verify
information provided by Borrowers, and assist Lender in such verification
process; and after a Default or Event of Default, not adjust, settle or
compromise the amount, payment or performance of any obligations relating to
Accounts, without the prior consent of Lender;

            (e)     Provide Lender with two (2) business days written notice of
any change in the location of its Inventory, including transfers or movements
from one Borrower to another or from a Borrower to a non-Borrower Subsidiary and
from a non-Borrower Subsidiary to a Borrower;

            (f)     Provide two (2) business days written notice of any name
change of any Borrower or Guarantor or change in any Borrower's or Guarantor's
chief executive office; and

            (g)     Upon request of Lender, deliver to Lender certificates of
origin, manufacturer's statements of origin, and titles relating to any or all
Collateral.

     4.03.  Insurance of Collateral.  Borrowers shall keep all Inventory insured
            -----------------------
for full value against all insurable risks, on terms and with insurers
reasonably acceptable to Lender, and with Lender as the loss payee, assignee or
additional insured, as appropriate. Borrowers shall provide notice to Lender in
writing at least 10 days before changing or canceling any policy. Each policy
shall require the insurer to give not less than 30 days prior written notice to
Lender of cancellation, and shall provide that Lender's interest will not be
impaired by any act or neglect of any Borrower or any other Person nor by any
use of the premises for purposes more hazardous than are permitted by the
policy.

     4.04.  Further Assurances.  Borrowers and Guarantors shall execute such
            ------------------
financing

                                       17
<PAGE>

statements and other instruments and agreements, and shall take such actions, as
Lender shall reasonably request from time to time to evidence or perfect any
Lien granted under the Loan Papers. Unless prohibited by Law, each Borrower and
Guarantor authorizes Lender to execute and file any financing statement or other
instrument or agreement on behalf of it for the foregoing purposes. The parties
agree that a copy of this Agreement, any guaranty agreement, or any financing
statement may be filed as a financing statement in any appropriate jurisdiction,
to the extent permitted by Law.

     4.05.  Additional Security.  In addition to the granting of the lien in the
            -------------------
Collateral, the Borrowers shall cause a certificate of deposit in the face
amount of three million five hundred thousand dollars ($3,500,000.00) issued by
the Bank (the "certificate of deposit") to be pledged and delivered to Lender on
or before March 26, 2001 (time is of the essence).  The certificate of deposit
and all income, profits, substitutions, and replacements and proceeds thereof
shall be called the ("Additional Collateral") and shall be additional security
for the Borrowers' and Guarantors' obligations under this Agreement and the
other Loan Papers.  Until an Event of Default occurs, the Borrowers shall be
entitled to receive any interest or other income of the Additional Collateral.
The form of the certificate of deposit and pledge agreement relating thereto
shall be acceptable to Lender.  Upon an Event of Default, Lender shall be
permitted, without notice or demand, to offset, debit or otherwise liquidate the
Additional Collateral and apply the proceeds to the obligations due under the
Loan Papers - first to fees and costs, next to interest, then to principal.  The
Guarantors shall consent to the pledge of the Additional Collateral in order to
cover their interest, if any, in the same.  The covenant of the Borrowers and
Guarantors under this paragraph shall be effective without further notice or
demand from Lender.

            The Borrowers and Guarantors shall not interfere with or prevent any
action by Lender to effectuate the rights granted to Lender under this
provision. The Borrowers hereby acknowledge and consent that the Bank on behalf
of itself and Specialty shall be permitted to effectuate the rights granted to
Lender under this provision and that the Bank shall be and is hereby deemed to
be the agent of Specialty for such purposes, including the possession of the
certificate of deposit, and the Borrowers further acknowledge and consent that
Specialty on behalf of itself and the Bank shall be permitted to effectuate the
rights granted to Lender under this provision and that Specialty shall be and is
hereby deemed to be the agent of the Bank for such purposes, including the
possession of the certificate of deposit. The Bank and Specialty are hereby
granted to the fullest extent permitted by law power of attorney-in-fact for the
Borrowers to implement and effectuate the rights granted to Lender under this
provision.


                                   ARTICLE V

                        REPRESENTATIONS AND WARRANTIES
                        ------------------------------

     Borrowers and Guarantors represent and warrant that the following are true
and correct:

     5.01.  Organization and Qualification. Each Borrower and each Guarantor is
            ------------------------------
a corporation duly organized, validly existing and in good standing under the
laws of its state of organization. Each Borrower is qualified to do business in
all jurisdictions where the nature of its business or Properties require such
qualification. Each Subsidiary and Guarantor is listed on

                                       18
<PAGE>

Exhibit B hereto.

     5.02.  Due Authorization; Validity. The Board of Directors of each Borrower
            ---------------------------
and each Guarantor has duly authorized the execution, delivery and performance
of its Loan Papers. No consent of any shareholders of any Borrower or Guarantor
is required as a prerequisite to the validity and enforceability of its Loan
Papers. Each Borrower has full legal right, power and authority to execute,
deliver and perform under its Loan Papers. Such Loan Papers constitute the
legal, valid and binding obligations of each Borrower, enforceable against each
Borrower in accordance with their terms (subject as to enforcement of remedies
to any applicable bankruptcy, reorganization, moratorium, or similar Laws or
principles of equity affecting creditors' rights generally).

     5.03.  Guaranties. Each Guarantor has full legal right, power and authority
            ----------
to execute, deliver and perform under its Loan Papers. Each Guarantor's Loan
Papers constitute the legal, valid and binding obligation of such Guarantor,
enforceable against each Guarantor in accordance with their terms (subject as to
enforcement of remedies to any applicable bankruptcy, reorganization,
moratorium, or similar Laws or principles of equity affecting creditors' rights
generally).

     5.04.  Conflicting Agreements and Other Matters. The execution or delivery
            ----------------------------------------
by any Borrower or any Guarantor of any Loan Papers, and performance by any
Borrower or any Guarantor thereunder, do not conflict with, or result in a
breach of the terms, conditions or provisions of, or constitute a default under,
or result in any violation of, or result in the creation of any Lien on any
Properties of any Borrower or any Guarantor under, or require any consent,
approval or action by or notice to any Governmental Body or other Person (other
than consents already obtained) pursuant to, the articles of incorporation,
bylaws or other organizational documents of any Borrower or any Guarantor, or
any Law or material agreement to which any Borrower, any Guarantor or any of
their Properties is subject.

     5.05.  Financial Statements.  The consolidated financial statements of
            --------------------
Borrowers and the Subsidiaries delivered to Lender are true and correct and
fairly present their results of operations, and their financial condition as of
the dates and for the periods shown, all in accordance with GAAP.  The financial
statements (and notes thereto) reflect all material liabilities, direct and
contingent, of the Borrowers and the Subsidiaries that are required to be
disclosed in accordance with GAAP. No Borrower or Subsidiary has material
Contingent Liabilities, liabilities for Taxes, forward or long-term commitments,
or unrealized or anticipated losses from any unfavorable commitments that are
not reflected in such financial statements.  Each Borrower and each Guarantor is
Solvent.

     5.06.  Litigation. Except as disclosed to Lender in attached Exhibit A,
            ----------
there is no Litigation pending or, to the best of Borrowers' knowledge,
threatened against Borrowers or any of the Subsidiaries on the date hereof that
involves a claim for damages or reasonably expected potential liability of
$500,000.00 or more. There is no pending or threatened Litigation against
Borrowers or any of the Subsidiaries that could result in a Material Adverse
Change.

     5.07.  Laws Regulating Incurrence of Debt. No proceeds of any Advance will
            ----------------------------------
be used directly or indirectly to acquire any securities, without the prior
written consent of Lender.

                                       19
<PAGE>

No Advance will be used to purchase or carry margin stock (as defined in
applicable Federal Reserve regulations), nor to extend credit to others to do
so. Borrowers and the Subsidiaries are not subject to regulation under any Law
that prohibits or restricts its incurrence of Debt in any material respect.

     5.08.  Licenses, Title to Properties, Etc.  Borrowers and the Subsidiaries
            ----------------------------------
possess all material Licenses and are not in violation thereof in any material
respect.  Each Borrower and Subsidiary has full power, authority and legal right
to own and operate its Properties, and to conduct its business.  Each Borrower
and Subsidiary has good and indefeasible title (fee or leasehold, as applicable)
to its Properties, subject to no Lien of any kind, except as permitted
hereunder. No Borrower or Subsidiary is in violation of their articles of
incorporation, bylaws or other organizational documents, any award of any
arbitrator, or any Law or material agreement to which it or any of its
Properties is subject.  No business or Property of any Borrower or any
Subsidiary is affected by any strike, lock-out or other labor dispute, material
casualty, earthquake, embargo or act of God.

     5.09.  Outstanding Debt and Liens.  Borrowers and the Subsidiaries have no
            --------------------------
outstanding Debt, Contingent Liabilities or Liens, except as expressly permitted
hereunder.

     5.10.  Taxes. Except for the tax year 2000 (in which case an extension has
            -----
been filed through July 15, 2001, but they agree to deliver the Tax returns to
Lender upon their filing), each Borrower and each Subsidiary has filed all Tax
returns and reports which are required to be filed, and has paid all Taxes, to
the extent due and payable. All Tax liabilities of Borrowers and the
Subsidiaries are adequately provided for on its books (including interest and
penalties) and adequate reserves have been established therefore in accordance
with GAAP. Except as disclosed to Lender, no taxing authority has notified any
Borrower or any Subsidiary of any material deficiency in a Tax return nor
asserted any material Tax liability in excess of that already paid.

     5.11.  Employee Benefits.  All employee benefits of the Borrowers and the
            -----------------
Subsidiaries are provided in accordance with all applicable Laws.  Each Plan
satisfies the minimum funding standards under all applicable laws, and has no
accumulated deficiency.  No Borrower or Subsidiary has incurred any withdrawal
liability nor engaged in any prohibited transaction with respect to a Plan.  No
Borrower or Subsidiary has failed to make any payment to a Plan as required
under applicable laws, and no reportable event (as defined under ERISA) has
occurred.  No Borrower or Subsidiary has received any notice from any
Governmental Body or administrator of any potential termination of a Plan, and
no circumstance or event exists that could constitute grounds for the
termination of or appointment of a trustee to administer any Plan.

     5.12.  Environmental Laws.  No Borrower or Subsidiary has received any
            ------------------
environmental study or report in connection with any of its Properties that
reveal potential liability, violations or discrepancies under any Environmental
Laws. All Licenses have been obtained or filed that are required under any
Environmental Laws, unless the failure to obtain or file same could not result
in a Material Adverse Change.  No Hazardous Materials are generated or produced
at or in connection with any Properties or operations of any Borrower or
Subsidiary, and no Hazardous Materials in any material amounts are released onto
any Properties of any Borrower or Subsidiary.

     5.13.  Disclosure. No Borrower or Subsidiary has made a material
            ----------
misstatement

                                       20
<PAGE>

of fact, or failed to disclose any fact necessary to make the facts disclosed
not misleading, to Leader during the course of application for and negotiation
of this Agreement or otherwise in connection with any transactions contemplated
hereby. There is nothing known to any Borrower or any Subsidiary that could
materially adversely affect any Borrower's or any Subsidiary's financial
condition, Properties or business operations, or that could result in a Material
Adverse Change, which is not set forth herein or in notices hereafter delivered
to lender.



                                  ARTICLE VI

                                   COVENANTS
                                   ---------

     So long as this Agreement is in effect or any amounts are owing to Lender,
Borrowers agree as follows:

     6.01.  Financial Covenants
            -------------------

            (a)  As of March 26, 2001, and at all times thereafter, on a
consolidated basis, the Borrowers and the Subsidiaries shall maintain a minimum
Tangible Net Worth of $12,000,000.00.

            (b)  As of March 26, 2001, and at all times thereafter, on a
consolidated basis, the Borrowers and the Subsidiaries shall maintain a minimum
Working Capital of $10,000,000.00 .

            (c)  As of March 26, 2001, and at all times thereafter, on a
consolidated basis, the Borrowers and the Subsidiaries shall maintain a Debt to
Tangible Net Worth Ratio of no greater than the following:

                       03/26/01 to 4/30/01    6.5 to 1.0
                       5/1/01 and thereafter  6.0 to 1.0

            (d)  As of March 26, 2001, and at all times thereafter, on a
consolidated basis, the Borrowers and the Subsidiaries shall maintain the ratio
of current assets to current liabilities, determined in accordance with GAAP, at
least equal to the following:

                      03/26/01 to 4/30/01    1.10 to 1.0
                      5/1/01 and thereafter  1.20 to 1.0

            (e)  Notwithstanding the foregoing, subordinate debt permitted under
Section 6.02 shall not be included as debt for purposes of making the
calculations set forth in this Section 6.01.

     6.02.  Debt; Operating Leases. Borrowers shall not incur, assume or be
            ----------------------
liable in any manner for any Debt, except (a) Debt under the Loan Papers and
existing Debt shown on Exhibit A hereto or substitutions thereof subject to the
limitations hereof and of Section 6.04; provided, however, County Line shall not
incur said substitute Debt for new Inventory from any lender other

                                       21
<PAGE>

than Lender absent full satisfaction of all sums due Lender from Advances to
County Line , and, (b) excluding County Line (which is addressed below in
Section 6.045), future Debt to another floor plan lender above the current
amounts shown on Exhibit A incurred by a particular Borrower which is a
Subsidiary to purchase Inventory solely for that particular Borrower; provided
said additional Debt results in the complete and permanent reduction of the
obligations of that particular Borrower to Lender under this Agreement, (c)
Capital Leases and Debt incurred to acquire equipment used in Borrowers'
business (including refinancing thereof), in an amount not to exceed $500,000.00
in the aggregate at any time, (d) subordinate Debt incurred, assumed or
otherwise owing by the Borrowers in connection with an acquisition or merger in
the amount of $10,000,000 in the aggregate, and subordinate Debt, including upon
conversion of convertible preferred or common stock, in the amount of $
5,000,000.00 in the aggregate, (e) other Debt subordinated to repayment of
amounts owing hereunder on terms satisfactory to Lender, and otherwise
acceptable to Lender in its sole discretion, and (f) trade payables incurred and
paid in the ordinary course of business. Borrowers and Guarantors shall not
enter into or be party to Operating Leases requiring total rental payments
during any fiscal year in excess of two million dollars ($2,000,000.00) in the
aggregate, including sale-leaseback transactions and other real estate leases.

     6.03.  Contingent Liabilities. Borrowers shall not incur, assume or be
            ----------------------
liable in any manner for any Contingent Liabilities, except (a) those resulting
from the endorsement of negotiable instruments for collection in the ordinary
course of business, or (b) Contingent Liabilities relating to Debt secured
solely by real property and in existence on the date hereof, (c) existing
Contingent Liabilities shown on Exhibit A hereto, (d) Contingent Liabilities of
Borrowers created in connection with an acquisition or merger, and e) Contingent
Liabilities of Borrowers for obligations of its direct or indirect wholly-owned
Subsidiaries .

     6.04.  Liens. Borrowers shall not create or suffer to exist any Lien upon
            -----
any of its Properties, except (a) Liens hereunder, Liens of Lender or Fleetwood
granted under the Holiday Rv Existing Documents and Fleetwood Existing Documents
as shown on Exhibit 2, and Liens of other lenders on Inventory securing existing
Debt as shown on Exhibit A hereof, (b) excluding County Line, Liens on Inventory
securing future Debt to another floor plan lender above the current amounts
shown on Exhibit A incurred by a particular Borrower which is a Subsidiary to
purchase Inventory solely for that particular Borrower; provided said additional
Debt results in the complete and permanent reduction of the obligations of that
particular Borrower to Lender under this Agreement, (c) Liens on real estate
securing existing Debt, as shown on Exhibit A hereof, (d) Liens effected by or
relating to Capital Leases or other Debt permitted under Section 6.02(c) hereof,
encumbering only the assets leased thereunder or acquired with proceeds thereof,
(e) Liens satisfactory to Lender securing Debt or Contingent Liabilities
permitted under Section 6.02(d) or (f) hereof, or Section 6.03(b) hereof, and
(g) Tax, mechanics' and materialmen's Liens relating to amounts that are not yet
due and payable, or that are being contested in good faith by appropriate
proceedings, for which adequate reserves have been established.

     6.045. Supplemental Provision Regarding Debts and Liens.  Holiday RV shall
            ------------------------------------------------
not be permitted to acquire Inventory or pledge a lien in any Inventory to
another Lender.  Notwithstanding the existence of any financing statements
presently on file against County Line naming Deere Credit, Inc. or Deutsche
Financial Services Corporation as the secured party or against Holiday RV
Superstores of New Mexico, Inc. naming Recreational Dealers Acceptance Company,
LLC as the secured party, those Borrowers agree not to incur debt from those
lenders

                                       22
<PAGE>

except as otherwise expressly permitted by this Agreement. Except as to County
Line and Holiday RV, a Borrower shall not become indebted to more than one floor
plan lender at a time. County Line may incur future Debt from another floor plan
lender(s) for the purchase of used Inventory and grant a lien in said used
Inventory to such lender(s) in an amount up to five million dollars
($5,000,000.00) in the aggregate at the same time County Line is indebted to
Lender for financing new Inventory. Holiday RV shall be permitted to guaranty or
become a co-maker of future Debt to another floor plan lender consistent with
Section 6.02 but only to the extent of Inventory financing provided to one or
more Borrowers, Guarantors, or Subsidiaries. Lender agrees to release its lien
in Inventory which is financed by another floor plan lender as permitted by
Sections 6.04 and 6.045.

     6.05.  Amendment of Organizational Documents. No Borrower or Guarantor
            -------------------------------------
shall amend or modify, or permit the amendment or modification of, its articles
of incorporation, bylaws or other organizational documents in any material
respect, without the prior written consent of Lender.

     6.06.  Laws, Licenses and Material Agreements. Borrower shall, and shall
            --------------------------------------
cause the Subsidiaries to, obtain and comply in all material respects with all
applicable Laws and Licenses and shall maintain all Plans such that the
representation and warranty in Section 5.11 hereof is true at all times.
Borrowers shall, and shall cause the Subsidiaries to, maintain and comply in all
material respects with all material agreements necessary or appropriate for its
businesses and Properties.

     6.07.  Disposition of Assets. Borrowers shall not, and shall not permit any
            ---------------------
of the Subsidiaries to, sell, transfer, encumber or lease any of its assets,
except (a) sales or leases of Inventory in the ordinary course of business, (b)
dispositions of obsolete or useless assets, (c) transfers of Inventory between
Borrowers, and (d) dispositions of Retail Paper in the ordinary course of
business.

     6.08.  Mergers; Investments; Business.  Borrowers shall not, and shall not
            ------------------------------
permit any Subsidiary to, merge into, consolidate with or make any Investment in
any Person, permit any other Person to merge into or consolidate with it, or
form or acquire any new Subsidiary unless (i) the business to be conducted after
such merger or consolidation or Investment shall be limited to the retail sales
of recreational vehicles or boats and the sales of related products and services
consistent with the business now being conducted by Borrowers, (ii) Borrowers
shall give Lenders 60 days advance written notice thereof, (iii) upon completion
of any such merger or consolidation or Investment there is no default or breach
of any of the financial covenants contained in Section 6.01 hereof, and (iv)
within 5 days after a Borrower's or a Subsidiary's acquisition or formation of
any direct or indirect Subsidiary hereafter, Borrowers shall deliver to Lender a
revised Exhibit C hereto and such new Subsidiary shall become a Borrower
hereunder or such new Subsidiary shall execute a Guaranty Agreement and shall
become a Guarantor hereunder. No Borrower nor any Subsidiary shall materially
change the nature of its business as now conducted.

     6.09.  Insurance.  Except as otherwise required by Section 4.03 hereof,
            ---------
Borrowers shall, and shall cause the Subsidiaries to, (a) keep its insurable
Properties adequately insured at all times by financially sound and reputable
insurers to such extent and against such risks, including fire and other risks
insured against by extended coverage, as is customary with companies similarly
situated and in the same or similar businesses, (b) maintain in full force and
effect public liability and

                                       23
<PAGE>

workers compensation insurance, in amounts customary for such similar companies
to cover normal risks, by insurers satisfactory to Lender, and (c) maintain such
other insurance as may be required by Law or reasonably requested by Lender.
Borrowers shall deliver evidence of renewal of each insurance policy on or
before the date of its expiration, and from time to time shall deliver to
Lender, upon demand, evidence of the maintenance of such insurance. Borrowers
shall promptly deliver to Lender copies of all reports provided to insurers by
it.

     6.10.  Inspection Rights. Borrowers shall, and shall cause the Subsidiaries
            -----------------
to, permit Lender, upon reasonable notice and during normal business hours, to
examine and make copies of and abstracts from any of its books and records, to
inspect its Properties and to discuss its affairs with any of its directors,
officers, managerial employees or accountants, all as Lender may reasonably
request. Upon twenty-four (24) hours notice to the Borrowers, Lender shall, at
Borrowers' expense, have the right at any time to physically inspect and count
all units of Inventory at each Borrower's location and the Borrower shall fully
cooperate with Lender and its agents in connection therewith.

     6.11.  Records; Changes in GAAP.    Borrowers shall, and shall cause the
            ------------------------
Subsidiaries to, keep adequate books and records in conformity with GAAP.  No
Borrower or Subsidiary shall change its fiscal year nor change its method of
financial accounting except in accordance with GAAP.  In connection with any
change in accounting methods resulting from a change in GAAP, Borrowers and
Lender shall make appropriate alterations to the covenants set forth in Section
6.01 hereof, reflecting such change.

     6.12.  Reporting Requirements.  Borrowers shall furnish to Lender:
            ----------------------

            (a)  As soon as available and in any event within 20 days after the
end of each month, a balance sheet and statement of income of Borrowers and the
Subsidiaries for such month and for the portion of the fiscal year ending with
such month, prepared on a consolidated basis in accordance with GAAP in
reasonable detail, and certified by an officer of the Borrowers (in a manner
satisfactory to Lender) as fairly presenting the financial condition and results
of operations of Borrowers and the Subsidiaries, together with a Compliance
Certificate;

            (b)  As soon as available but no later than three (3) business days
after its 10-K Report is first due to be filed with the Securities and Exchange
Commission under the rules of the exchange, an audited balance sheet and
statements of income and cash flows of the Borrowers and the Subsidiaries for
the preceding fiscal year, prepared on a consolidated basis in accordance with
GAAP in reasonable detail and accompanied by an unqualified opinion of
independent certified public accountants acceptable to Lender, together with a
Compliance Certificate;

            (c)  Commencing March 9, 2001, and continuing on the third Business
Day of each week until, March 31, 2001, a weekly sales report for the prior
calendar week in the form of Exhibit C hereof. Commencing April 3, 2001, every
                             ---------
third Business Day, a sales report for the prior three calendar days in the form
of Exhibit C hereof. Time is of the essence;

            (d)  Promptly upon receipt thereof, copies of all material reports
or letters submitted to Borrowers or any of the Subsidiaries, by any auditors or
accountants in connection

                                       24
<PAGE>

with any annual, interim or special audit;

            (e)  Promptly upon the filing thereof, copies of all filings made by
any Borrower or any Subsidiary with the Securities and Exchange Commission;

            (f)  As soon as possible and in any event within five Business Days
after knowledge thereof by an officer of any Borrower, a notice of the
occurrence of any Default or Event of Default, setting forth the details
thereof, and the action being taken or proposed to be taken with respect
thereto;

            (g)  As soon as possible and in any event within five Business Days,
notice of any Litigation pending or threatened against any Borrower or
Subsidiary which, if determined adversely, could result in damages in excess of
$500,000.00 or more in the aggregate or any other Material Adverse Change,
together with a statement of an officer of the Borrowers describing the
allegations of such Litigation, and the action being taken or proposed to be
taken with respect thereto;

            (h)  Promptly after filing or receipt thereof, copies of all reports
and notices that any Borrower or any Subsidiary furnishes to or receives from
any holders of any Debt or Contingent Liability relating to a material breach,
default or event of default thereunder, or otherwise relating to any event or
circumstance that could result in a material Default or material Event of
Default;

            (i)  Promptly upon request, such information concerning the,
Accounts, Inventory, Borrowers', the Subsidiaries' financial condition,
Properties, business, affairs or prospects, and other matters, as Lender may
from time to time reasonably request;

            (j)  Upon twenty-four (24) hour notice, Lender and its agents and
consultants shall have the right to enter upon any premises used or occupied by
any Borrower or Guarantor to inspect the books and records pertaining to any of
the reports and information provided as required by Section 6.12 and the
affected Borrower or Guarantor shall fully cooperate with such review; and

            (k)  The Borrowers shall provide reasonable advance written notice
to Lender of any proposed creation or authorization any new class of capital or
preferred stock.

     6.13.  Transactions with Affiliates.  Except as permitted herein, Borrowers
            ----------------------------
shall not, and shall not permit any Subsidiary to, enter into or be party to a
transaction with an Affiliate, except on terms no less favorable than could be
obtained on an arm's-length basis with a Person that is not an Affiliate.
Borrowers shall not, and shall not permit any Subsidiary to, make any loans or
advances to any of its officers, shareholders or other Affiliates, except
advances made for customary travel expenses incurred in the conduct of its
business.  Borrowers shall not, and shall not permit any Subsidiary to, make any
loans or advances to any other Borrower or to any Subsidiary.

     6.14.  Dividends, Redemptions and Stock.  No Borrower nor any Subsidiary
            --------------------------------
shall, directly or indirectly, declare or pay any dividends on account of any
shares of class of capital stock now or hereafter outstanding, or set aside or
otherwise deposit or invest any sums for such purpose, or redeem, retire,
defease, purchase or otherwise acquire any shares of any class of capital stock
(or set aside or otherwise deposit or invest any sums for such purpose).
Holiday RV may issue capital

                                       25
<PAGE>

or preferred stock which is subordinate to the rights of Lender; provided, such
funds raised are used for ordinary and customary working capital purposes, to
retire existing Debt, or acquisition of new dealerships. The stock may have a
convertible feature so long at the same is at all times subordinate to the
interests of Lender and the Debt associated therewith does not exceed the amount
permitted by Section 6.02 and the requirements of Section 6.01.


                                  ARTICLE VII

                               EVENTS OF DEFAULT
                               -----------------

     7.01.  Events of Default.  Each of the following shall be an "Event of
            -----------------                                      --------
Default" hereunder, if the same shall occur for any reason whatsoever, whether
-------
voluntary or involuntary, by operation of Law or otherwise:

            (a)  Any Borrower or Guarantor shall fail to pay any principal owing
hereunder or under any other loan with Lender when due; or any Borrower or any
Guarantor shall fail to pay any interest or other amounts payable under any Loan
Papers, or any Borrower or Guarantor fails to comply with the requirements of
Section 3.03, Section 6.12(c), or Section 3.01(g.5);

            (b)  Any material representation or warranty of any Borrower or any
Guarantor made in connection with this Agreement or any transactions
contemplated hereby shall be incorrect or misleading in any material respect
when given;

            (c)  Any Borrower or Guarantor shall fail to comply with the
requirements of Section 6.12(i) or (j) or Section 6.10 and such non-compliance
continues for two (2) days after notice from Lender;

            (d)  Any Borrower or Guarantor shall fail to comply with the
requirements of Section 6.12 (a) and such non-compliance continues for five (5)
days after notice from Lender; or any Borrower or any Guarantor shall fail to
perform or observe any other non-monetary term or covenant contained in any of
their respective Loan Papers, and if such default is subject capable of being
cured, such default shall not be cured within 15 days after the earlier of
knowledge thereof by an officer of such Borrower or such Guarantor, as
applicable, or after written notice of the default is delivered by Lender, but
if the default is subject to cure and the cure is being diligently pursued with
best efforts by appropriate means at the end of such 15 days, then Borrower or
Guarantor, as applicable, shall have an additional 15 days thereafter to
complete the cure;

            (e)  Any provision of any Loan Papers shall, for any reason, not be
valid and binding on any Borrower or any Guarantor; any Guarantor shall not have
had full legal right, power and capacity to execute, deliver and perform under
its Guaranty Agreement, when such Guaranty Agreement was delivered to Lender;
any Guarantor shall not have been Solvent when it delivered its Guaranty
Agreement to Lender; any Guarantor shall revoke, terminate or repudiate its
Guaranty, or any Guaranty Agreement shall, for any reason, not be valid and
binding on the applicable Guarantor; or any breach, default or Event of Default
shall occur or exist under any Loan Papers after any applicable grace period;

                                       26
<PAGE>

            (f)  Any of the following shall occur: (i) any Borrower, any
Guarantor, or any Subsidiary shall make an assignment for the benefit of
creditors, be insolvent or unable to pay its

                                       27
<PAGE>

debts as they come due, cease doing business as a going concern or cease to be
Solvent; (ii) any Borrower, any Guarantor or any Subsidiary shall petition any
Governmental Body for the appointment of a trustee, receiver or liquidator of it
or any of its assets, or shall commence any proceedings under any bankruptcy,
reorganization, insolvency, moratorium, liquidation or other debtor relief Laws;
(iii) any petition shall be filed, or any such proceedings shall be commenced,
against any Borrower or any Subsidiary under any such Laws and the same is not
dismissed or otherwise discharged within 45 days, or an order, judgment or
decree shall be entered approving such petition or appointing any trustee,
receiver or liquidator for any Borrower, any Guarantor or any Subsidiary, or any
of their assets; or (iv) any final order, judgment or decree shall be entered
decreeing any Borrower's, any Guarantor's or any Subsidiary's dissolution,
split-up or divestiture of assets;

            (g)  Any lender(s) under any of the Debt shown on Exhibit A attached
hereto aggregating $500,000 or more shall declare such Debt due and payable
prior to its stated maturity, and such action shall result in a Material Adverse
Change; any Borrower, any Guarantor or any Subsidiary shall fail to make any
payment when due with respect to any other Debt or Contingent Liability of
$500,000.00 or more in the aggregate, and such failure shall continue after any
applicable grace period; any Borrower, any Guarantor or any Subsidiary shall
fail to observe any term or condition of any agreement relating to any other
Debt or Contingent Liability of $500,000.00 or more in the aggregate, and such
failure shall continue after any applicable grace period; or any such other Debt
or Contingent Liability shall be declared to be due and payable, or required to
be prepaid, prior to the stated maturity thereof;

            (h)  Any Borrower, any Guarantor or any Subsidiary shall have any
final judgment(s) outstanding against them for the payment of $500,000.00 or
more in the aggregate in excess of insurance, and such judgment(s) shall remain
unstayed and unpaid for over 30 days;

            (i)  There shall be an issuance of an order of attachment against
any Borrower, any Guarantor or any Subsidiary or any material portion of their
Properties, or there shall be damage to or destruction of a substantial part of
any Borrower's, any Guarantor's or any Subsidiary's assets that is not covered
by insurance;

            (j)  Any investigation or proceeding shall be instituted against any
Borrower, any Guarantor or any Subsidiary under or with respect to any
Environmental Laws that could reasonably be expected to result in any penalty,
fine, remediation costs or other damages of $500,000.00 or more in the aggregate
in excess of insurance;

            (k)  Lender shall determine that there has been a Material Adverse
Change with respect to Holiday RV or County Line; or

            (l)  An "Event of Default" or a "Default" shall occur under any
agreement that any Borrower, any Guarantor or any Subsidiary may have with the
Bank or Specialty or any affiliate thereof, and such Event of Default or Default
is not cured within any applicable grace period.

     7.02.  Remedies Upon Default.  If an Event of Default described in Section
            ---------------------
7.01(e) hereof shall occur, all amounts owing to Lender shall, to the extent
permitted by applicable Law, become

                                       28
<PAGE>

immediately due and payable without any action by Lender, and without diligence,
presentment, demand, protest, notice of protest or intent to accelerate, or
notice of any other kind, all of which are hereby waived to the fullest extent
permitted by Law. If any other Event of Default shall occur and be continuing,
Lender may do any one or more of the following from time to time:

          (a)  Declare all Advances, interest and other amounts owing to Lender
               immediately due and payable, whereupon they shall be due and
               payable without diligence, presentment, demand, protest, notice
               of protest or intent to accelerate, or notice of any other kind,
               all of which are hereby waived to the fullest extent permitted by
               Law;

          (b)  Terminate, suspend or reduce the Commitment;

          (c)  Set-off against any or all liabilities or any Borrower or any
               Guarantor all money owed by Lender in any capacity to any
               Borrower or any Guarantor whether due or not due, and also set-
               off against all other liabilities of any Borrower or any
               Guarantor to Lender all money owed by Lender in any capacity to
               any Borrower or any Guarantor, and Lender shall be deemed to have
               exercised such right of set-off and to have made a charge against
               any such money immediately upon the occurrence of such Event of
               Default although made or entered on the books subsequent thereto;
               and/or

          (d)  Exercise any other Rights afforded under any agreement, by Law,
               at equity or otherwise, including those Rights of a secured party
               under the Uniform Commercial Code in effect in any jurisdiction
               where the Collateral is kept. Lender also shall be entitled to
               enforce all of its rights and remedies with respect to the
               Additional Collateral and Deposit Account Collateral provided for
               hereunder or under the applicable documents pertaining to said
               collateral. Such Rights shall include the right to cancel any
               Committed Advances, to direct any Borrower to return any
               Inventory to a vendor or manufacturer thereof for credit or
               refund, to enter any Borrower's premises with or without legal
               process, but without force, and/or to take possession of and
               remove the Collateral, and books and records relating to the
               Collateral. At Lender's request during an Event of Default, each
               Borrower will assemble, prepare for removal and make available to
               Lender at a place to be designated by Lender which is reasonably
               convenient to both parties such items of the Collateral as Lender
               may from time to time request. During the continuance of an Event
               of Default, Lender may take control of any funds generated by the
               Collateral, notify Account obligors to make payment to an account
               or location designated by Lender, and in Lender's name or any
               Borrower's name, demand, collect, receipt for, settle,
               compromise, sue for, repossess, accept returns of, foreclose or
               realize upon any Collateral, including without limitation
               Accounts and related instruments and security therefor. Borrowers
               waive any and all rights that they may have to a notice prior to
               seizure by Lender of any Collateral. Ten days written notice of a
               public sale date or the date after which a private sale may occur
               shall be a reasonable notice. Lender shall not be chargeable with
               responsibility for the accuracy or validity of any document or
               for the existence or value of any Collateral, and shall not be
               liable for failure to collect any amounts owing on an Account or
               instrument. Borrowers waive all relief from all appraisement,
               valuation, deficiency or exemption laws now in force or hereafter
               enacted. LENDER SHALL NOT BE LIABLE FOR ANY ACT OR OMISSION
               (INCLUDING MISTAKES OR NEGLIGENT ACTS OF OMISSION) OF ITS
               OFFICERS, AGENTS OR EMPLOYEES, ABSENT ACTIVE NEGLIGENCE, GROSS
               NEGLIGENCE OR WILLFUL MISCONDUCT.

                                       29
<PAGE>

  7.03.  Power of Attorney.  Each Borrower hereby irrevocably appoints Lender,
         -----------------
including any officer or employee of Lender as Lender may designate, as that
Borrower's true and lawful attorney-in-fact with power of substitution to do the
following acts on behalf of the Borrowers during the continuance of any Event of
Default: to prepare, execute and deliver in the name of the Borrowers security
instruments, financing statements, lien filings and certificates of title
relating to Collateral; to endorse any Borrower's name upon any notes, checks,
drafts, money orders and other forms of instruments made payable to that
Borrower and relating to Collateral; and generally to perform all acts and do
all things necessary and proper in connection with the transactions contemplated
hereby or in discharge of the powers hereby conferred, including the making of
affidavits and the acknowledgment of instruments as fully as if done by a
Borrower.  The foregoing powers are coupled with an interest and shall be
irrevocable, as long as the Commitment or any obligations of Borrowers to Lender
remain outstanding.

  7.04.  Cumulative Rights.  All Rights available to Lender under the Loan
         -----------------
Papers shall be cumulative of and in addition to all other Rights under any
other agreement, at Law or in equity.  The acceptance by Lender at any time and
from time to time of partial payment of any amount owing under any Loan Papers
shall not be deemed to be a waiver of any Event of Default then existing.  No
waiver by Lender of an Event of Default shall be deemed to be a waiver of any
Event of Default other than such Event of Default.  No delay or omission by
Lender in exercising any Right under the Loan Papers shall impair such Right or
be construed as a waiver thereof or an acquiescence therein, nor shall any
single or partial exercise of any Right preclude other or further exercise
thereof, or the exercise of any other Right under the Loan Papers or otherwise.

  7.05.  Performance by Lender; Expenditures.  Should any covenant of Borrowers
         -----------------------------------
fail to be performed in accordance with the terms of the Loan Papers, Lender
may, at its option, attempt to perform such covenant on behalf of Borrowers.  It
is expressly understood, however, that Lender does not assume and shall never
have any liability or responsibility for the performance of any obligations of
Borrowers.  Any amounts expended or incurred by Lender in the performance of any
such act or in the enforcement of this Agreement (including reasonable
attorneys' fees) shall constitute part of the obligations secured hereunder,
will bear interest at the default rate hereunder and will be payable upon
demand.

  7.06.  Control.  None of the provisions hereof shall be deemed to give Lender
         -------
any right to exercise control over the affairs and/or management of any Borrower
or any Subsidiary, which the parties agree is retained by each Borrower and
Subsidiary.

                                 ARTICLE VIII

                                 MISCELLANEOUS
                                 -------------

  8.01.  Amendments, Waivers, and Novation.  No amendment or waiver of any
         ---------------------------------
provision of any Loan Papers, nor consent to any departure by any Borrower or
any Guarantor therefrom, shall be effective unless the same shall be in writing
and signed by Lender, and then any such waiver or consent shall be effective
only in the specific instance and for the specific purpose for which given.
This Agreement shall not constitute a novation of the Existing Holiday RV
Documents or Existing County Line Documents.

                                       30
<PAGE>

  8.02.  Notices.  Unless otherwise provided herein, all notices, demands and
         -------
other communications under the Loan Papers shall be in writing and shall be
personally delivered, sent by telecopy or telex (answer back received), or sent
by certified mail, postage prepaid, to the following addresses:

         (a) If to Borrowers, Subsidiaries or Guarantors:

             c/o Holiday RV Superstores, Inc.
             200 East Broward Blvd., Suite 920
             Ft. Lauderdale, Florida  33301
             Attention:  President
             Fax:    (954) 522-9906

         (b) If to Lender:

             Banc of America Specialty Finance, Inc.
             Bank of America, N.A.
             100 N. Tampa Street, Suite 1700
             Tampa, Florida  33602
             Attention:  Robert P. Thomas
             Fax:   (813) 276-7669

             With a copy to:

             Mark J. Wolfson
             Foley & Lardner
             100 N. Tampa Street, Suite 2700
             Tampa, Florida  33602
             Fax:   (813) 225-4119

or to such other address as any party shall hereafter designate in written
notice to the other party.  All notices, demands and other communications will
be effective when so personally delivered (including by courier service) or sent
by telecopy or telex, or five days after being so mailed; provided, however,
that notices to Lender pursuant to Article II hereof shall only be effective
when received.

  8.03.  Parties in Interest.  The Loan Papers shall bind and inure to the
         -------------------
benefit of the parties hereto, and their successors and assigns.  Lender may
from time to time assign its rights or obligations hereunder, but Borrowers may
not assign or transfer its rights or obligations hereunder (whether voluntarily
or by operation of Law), without the prior written consent of Lender.

  8.04.  Costs, Expenses and Taxes.  Borrowers, jointly and severally, agree to
         -------------------------
pay on demand (a) all costs and expenses (including reasonable attorneys' fees)
of Lender in connection with any extension, modification, waiver or release of
any Loan Papers, and (b) all costs and expenses of Lender incurred in any work-
out, defense or enforcement of any Loan Papers, including reasonable attorneys'
fees and the costs and expenses of environmental or other consultants.

                                       31
<PAGE>

Borrowers shall pay any stamp, debt, recordation, withholding and other Taxes
payable in connection with any Loan Papers or payments thereunder (other than
Taxes on the overall net income of Lender), and agree to save Lender harmless
from and against all liabilities relating to any Taxes.  All payments by
Borrowers shall be made free and clear of and without deduction for any Taxes of
any nature now or hereafter existing.

  8.05.  Indemnification by Borrowers.  BORROWERS, JOINTLY AND SEVERALLY, AGREE
         ----------------------------
TO INDEMNIFY, DEFEND AND HOLD HARMLESS LENDER, ITS AFFILIATES, AND ALL OF THEIR
DIRECTORS, OFFICERS, EMPLOYEES, REPRESENTATIVES, AGENTS, SUCCESSORS, ATTORNEYS
AND ASSIGNS, FROM AND AGAINST ANY AND ALL LIABILITIES, OBLIGATIONS, LOSSES,
DAMAGES, PENALTIES, ACTIONS, JUDGMENTS, SUITS, CLAIMS, COSTS, EXPENSES AND
DISBURSEMENTS OF ANY KIND OR NATURE WHATSOEVER WHICH MAY BE IMPOSED ON, INCURRED
BY OR ASSERTED AGAINST ANY OF THEM IN ANY WAY RELATING TO OR ARISING OUT OF ANY
LOAN PAPERS, ANY TRANSACTION RELATED HERETO OR THERETO, OR ANY ACT, OMISSION OR
TRANSACTION OF ANY BORROWER, ANY SUBSIDIARY, ANY GUARANTOR OR ANY OF THEIR
AFFILIATES, OR ANY OF THEIR DIRECTORS, OFFICERS, AGENTS, EMPLOYEES OR
REPRESENTATIVES; PROVIDED, HOWEVER, THAT BORROWERS SHALL NOT INDEMNIFY, DEFEND
AND HOLD HARMLESS ANY INDEMNIFIED PERSON FOR LOSSES OR DAMAGES THAT COMPANY
PROVES WERE CAUSED BY SUCH PERSON'S WILLFUL MISCONDUCT, GROSS NEGLIGENCE OR
OTHER NEGLIGENCE.  LENDER SHALL NOT BE LIABLE TO ANY BORROWER OR ANY SUBSIDIARY
OR ANY GUARANTOR FOR ANY CONSEQUENTIAL DAMAGES.  This indemnity shall survive
repayment of Borrowers' obligations to Lender.

  8.06.  [INTENTIONALLY OMITTED]

  8.07.  Release of Claims.  AS A MATERIAL INDUCEMENT TO THE AGREEMENTS OF
         ------------------
LENDER IN THIS AGREEMENT, BORROWERS AND GUARANTORS, ON BEHALF OF ITSELF AND ITS
SUCCESSORS AND ASSIGNS, DO HEREBY FULLY RELEASE AND FOREVER DISCHARGE LENDER AND
FLEETWOOD AND THEIR RESPECTIVE SUCCESSORS IN INTEREST, ASSIGNS, OFFICERS,
DIRECTORS, STOCKHOLDERS, AGENTS, SERVANTS, EMPLOYEES, SUBSIDIARIES AND
AFFILIATES, OF AND FROM ANY AND ALL PAST, PRESENT OR FUTURE CLAIMS, DEMANDS,
OBLIGATIONS, ACTIONS, CAUSES OF ACTION, RIGHTS, DAMAGES, COSTS, EXPENSES AND
COMPENSATION OF ANY NATURE WHATSOEVER, WHETHER BASED ON A TORT, CONTRACT,
STATUTORY LIABILITY OR ANY OTHER THEORY OF RECOVERY, WHETHER KNOWN OR UNKNOWN,
WHICH ANY BORROWER OR ANY GUARANTOR NOW HAS OR MAY HEREAFTER ACCRUE OR OTHERWISE
ACQUIRE, FOR OR BY REASON OF ANY MATTER, CAUSE OR THING WHATSOEVER OCCURRING UP
TO THE DATE OF THIS AGREEMENT.  TO THE EXTENT APPLICABLE, THE BORROWERS AND
GUARANTORS HEREBY WAIVE ANY OF THEIR RIGHTS UNDER SECTION 1542 OF THE CALIFORNIA
CIVIL CODE.

                                       32
<PAGE>

  8.08.  Hazardous Waste Indemnification.  Borrowers, jointly and severally
         -------------------------------
shall indemnify and hold harmless Lender, its Affiliates, and all of their
directors, officers, employees, representatives, agents, successors, attorneys
and assigns, from and against any loss, damage, cost, expense or liability
directly or indirectly arising out of or attributable to the use, generation,
manufacture, treatment, production, storage, release, threatened release,
discharge, disposal or presence of any Hazardous Materials on, under or about
any Borrower's property or operations or property leased to any Borrower or,
including but not limited to attorneys' fees (including the reasonable estimate
of the allocated cost of in-house counsel and staff).  This indemnity shall
survive repayment of Borrowers obligations to Lender.

  8.09.  Disclaimer of Warranty.  BORROWERS ACKNOWLEDGE THAT LENDER HAS MADE NO
         ----------------------
EXPRESS OR IMPLIED WARRANTIES WITH RESPECT TO ANY INVENTORY OR OTHER COLLATERAL,
INCLUDING ANY WARRANTY OF MERCHANTABILITY.  BORROWERS IRREVOCABLY WAIVE ANY
CLAIMS AGAINST LENDER WITH RESPECT TO THE INVENTORY AND OTHER COLLATERAL WHETHER
FOR BREACH OF WARRANTY OR OTHERWISE.  Any such claims shall not alter, diminish
or otherwise impair any Borrower's or any Guarantor's liabilities or obligations
to Lender under the Loan Papers.  Lender does not assume any obligations of any
Borrower relating to the Inventory, any Accounts, any contract obligations, or
any other obligations or duties arising from the Collateral.

  8.10.  Rate Provision.  It is not the intention of any party to any Loan
         --------------
Papers to make an agreement violative of the Laws of any applicable jurisdiction
relating to usury.  In no event shall any Borrower or any Guarantor be obligated
to pay any amount in excess of the maximum amount of interest permitted under
applicable Law.  If from any circumstance Lender shall ever receive anything of
value deemed excess interest under applicable Law, an amount equal to such
excess shall be applied to the reduction of the principal amount of outstanding
Advances and any remainder shall be refunded to the payor.

  8.11.  Severability; Counterparts.  If any provision of any Loan Papers is
         --------------------------
held to be illegal, invalid or unenforceable under present or future Laws during
the term thereof, such provision shall be fully severable, and the Loan Papers
shall be construed and enforced as if such illegal, invalid or unenforceable
provision had never comprised a part thereof.  This Agreement and the other Loan
Papers may be executed in any number of counterparts.

  8.12.  Governing Law.  This Agreement and the other Loan Papers shall be
         -------------
governed by and construed in accordance with the laws of the State of Florida
without consideration of conflict of laws principles; provided, however, that
the law of the state where tangible collateral is located shall be applicable
with respect to the enforcement of rights and remedies against said collateral
to the extent such state's laws mandates that its laws control said enforcement.
The state and federal courts located in Tampa, Florida, including the U.S.
District Court for the Middle District of Florida, Tampa Division, shall have
jurisdiction to determine any claim or dispute pertaining to this Agreement not
subject to binding arbitration.  The parties expressly submit and consent to
such jurisdiction, and waive any claim of inconvenient forum.

  8.13   Multiple Borrowers.  If two or more Borrowers sign this Agreement, each
         ------------------
Borrower agrees as follows:

                                       33
<PAGE>

          (a)  Each Borrower agrees that it is jointly and severally liable to
Lender for the payment of all obligations arising under this Agreement, and that
such liability is independent of the obligations of the other Borrowers. Lender
may bring an action against any Borrower, whether an action is brought against
the other Borrowers.

          (b)  Each Borrower agrees that any release which may be given by
Lender to the other Borrowers or any Guarantor will not release such Borrower
from its obligations under this Agreement.

          (c)  Each Borrower waives any right to assert against Lender any
defense, setoff, counterclaim, or claims which such Borrower may have against
the other Borrowers or any other party liable to Lender for the obligations of
the Borrowers under this Agreement.

          (d)  Each Borrower agrees that it is solely responsible for keeping
itself informed as to the financial condition of the other Borrowers and of all
circumstances which bear upon the risk of nonpayment. Each Borrower waives any
right it may have to require Lender to disclose to such Borrower any information
which Lender may now or hereafter acquire concerning the financial condition of
the other Borrowers.

          (e)  Each Borrower waives all rights to notices of default or
nonperformance by any other Borrower under this Agreement. Each Borrower further
waives all rights to notices of the existence or the creation of new
indebtedness by any other Borrower.

          (f)  The Borrowers represent and warrant to Lender that each will
derive benefit, directly and indirectly, from the collection administration and
availability of credit under this Agreement. The Borrowers agree that Lender
will not be required to inquire as to the disposition by any Borrower of funds
disbursed in accordance with the terms of this Agreement.

          (g)  Each Borrower waives any right of subrogation, reimbursement,
indemnification and contribution (contractual, statutory or otherwise),
including without limitation, any claim or right of subrogation under the
Bankruptcy Code (Title 11 of the U.S. Code) or any successor statute, which such
Borrower may now or hereafter have against any other Borrower with respect to
the indebtedness incurred under this Agreement. Each Borrower waives any right
to enforce any remedy which Lender now has or may hereafter have against any
other Borrower, and waives any benefit of, and any right to participate in, any
security now or hereafter held by Lender.

          (h)  Without intending to limit the affect of any other provisions of
this Agreement, each Guarantor agrees that for purposes of this paragraph the
term "Borrower" shall include each Guarantor.

  8.14.   Arbitration and Waiver of Jury Trial.
          ------------------------------------

          (a)  This paragraph concerns the resolution of any controversies or
claims between the Borrowers and Lender, whether arising in contract, tort or by
statute, including but not limited to controversies or claims that arise out of
or related to: (i) this Agreement (including any renewals, extension or
modifications); or (ii) any document related to this Agreement; (collectively,

                                       34
<PAGE>

a "Claim").

          (b)  At the request of any Borrower or Lender, any Claim (except as
noted below) shall be resolved by binding arbitration in accordance with the
Federal Arbitration Act (Title 9, U.S. Code) (the "Act") and the then-current
rules and procedures of the entity known as JAMS or any successor thereof
("JAMS") for the arbitration of large commercial disputes and terms of this
paragraph. The Act will apply even through this Agreement provides that it is
governed by the law of a specified state. The arbitration proceeding shall be
administered by JAMS. The arbitrator shall permit at least one motion for
summary judgment for each side in any arbitration proceeding and the Federal
Rules of Evidence shall apply. The current version of JAMS rules and procedures
are available on JAM's website at www.jamsadr.com or may be obtained from
                                  ---------------
writing to JAMS at 235 Peachtree Street, NE, Suite 600, Atlanta, Georgia,
telephone number 404-558-0905 or 1-800-352-5267, facsimile number 404-588-0905.
In the event of any inconsistency, the terms of this paragraph shall control.
Except for the initial filing fee which is paid for by the claimant, the Lender
and Borrowers shall be equally responsible for and pay the expenses of the
arbitration during the proceedings, but the arbitrator may order the losing
party(ies) to reimburse the prevailing party(ies) for their share of the
advanced arbitration expenses. If JAMS or its successor does not exist or no
longer is in the business of providing arbitration services or JAMS refuses or
fails to administer the same and provide arbitration services, then such
arbitration shall be administered by the American Arbitration Association and
its rules of large or complex commercial disputes shall apply with the
modifications stated above applicable to arbitration by JAMS.

          (c)  The arbitration shall be administered by JAMS and conducted in
Hillsborough County, Florida. All Claims shall be determined by one arbitrator;
however, if Claims exceed $5,000,000.00, upon the written request of both
parties, the Claims shall be decided by three arbitrators. All arbitration
hearings shall commence within 90 days of the demand for arbitration and close
within 90 days of commencement and the award of the arbitrator(s), shall be
issued within 30 days of the close of the hearing. However, the arbitrator(s)
upon a showing of good cause, may extend the commencement of the hearing for up
to an additional 60 days. The arbitrator(s) shall provide a concise written
statement of reasons for the award. The arbitration award may be submitted to
any court having jurisdiction to be confirmed and enforced.

          (d)  The arbitrator(s) will have the authority to decide whether any
Claim is barred by the statute of limitations and if so, to dismiss the
arbitration on that basis. For purposes of the application of the statute of
limitations, the service on JAMS under applicable JAMS rules of Claim is the
equivalent of the filing of a lawsuit. Any dispute concerning this arbitration
provision or whether a Claim is arbitrable shall be determined by the
arbitrator(s). The arbitrator(s) shall have the power to award legal fees
pursuant to the terms of this Agreement.

          (e)  Anything in this paragraph or JAMS rules to the contrary
notwithstanding, the agreement of the parties to arbitrate does not limit or
affect the right of any Borrower, any Guarantor or the Lender to: (i) exercise
self-help remedies, such as but not limited to, setoff, recoupment, repossession
; (ii) initiate judicial or nonjudicial foreclosure against any real or personal
property collateral; (iii) exercise any judicial or power of sale rights; (iv)
act in a court of law to obtain an interim remedy, such as but not limited to,
injunctive relief, writ of possession or appointment of a receiver, or
additional or supplementary remedies; or (v) enforce or defend its rights in a
bankruptcy case of any

                                       35
<PAGE>

Borrower or Guarantor with respect to the Collateral.

          (f)  The filing of a court action is not intended to constitute a
waiver of the right of any Borrower or Lender, including the suing party,
thereafter to require submittal of the Claim to arbitration.

  JURY TRIAL WAIVER. BY AGREEING TO BINDING ARBITRATION, THE PARTIES EXECUTING
  -----------------
THIS AGREEMENT IRREVOCABLY AND VOLUNTARILY WAIVE ANY RIGHT THEY MAY HAVE TO A
TRIAL BY JURY IN RESPECT OF ANY CLAIM, DEFENSE, OR DISPUTE WHATSOEVER, WHETHER
BASED IN TORT, CONTRACT, STATUTE OR OTHERWISE, WHETHER AT LAW OR IN EQUITY.
FURTHERMORE, WITHOUT INTENDING IN ANY WAY TO LIMIT THIS AGREEMENT TO ARBITRATE,
TO THE EXTENT ANY CLAIM IS NOT ARBITRATED, THE PARTIES IRREVOCABLY AND
VOLUNTARILY WAIVE ANY RIGHT THEY MAY HAVE TO A TRIAL BY JURY IN RESPECT OF SUCH
CLAIM, DEFENSE, OR DISPUTE.  THIS PROVISION IS A MATERIAL INDUCEMENT FOR THE
PARTIES ENTERING INTO THIS AGREEMENT.

  8.15.  Entire Agreement.  THIS WRITTEN AGREEMENT REPRESENTS THE FINAL
         ----------------
AGREEMENT BETWEEN THE PARTIES AND MAY NOT BE CONTRADICTED, MODIFIED, OR
OTHERWISE CHANGED  BY EVIDENCE OF PRIOR, CONTEMPORANEOUS OR SUBSEQUENT ORAL
AGREEMENTS, STATEMENTS OR REPRESENTATIONS OF THE PARTIES.  THERE ARE NO ORAL
AGREEMENTS BETWEEN THE PARTIES.

  8.16.  Guarantors.  The Guarantors hereby join in and consent to the terms and
         ----------
conditions of this Agreement.

  IN WITNESS WHEREOF, this Loan and Security Agreement is executed as of the
date first set forth above.



HOLIDAY RV SUPERSTORES, INC.
                                                   _______________________

By________________________                         _______________________
  Name:___________________
  Title:__________________


HOLIDAY RV SUPERSTORES OF SOUTH CAROLINA, INC.

By________________________                         _______________________
  Name:___________________
  Title:__________________                         _______________________


HOLIDAY RV SUPERSTORES WEST, INC.

                                       36
<PAGE>

By_________________________                                 _______________
  Name:____________________
  Title:___________________                                 _______________


HOLIDAY RV SUPERSTORES OF NEW MEXICO, INC.

By_________________________                                 _______________
  Name:____________________
  Title:___________________                                 _______________


COUNTY LINE SELECT CARS, INC.

By_________________________                                 _______________
  Name:____________________
  Title:___________________                                 _______________



BANC OF AMERICA SPECIALTY FINANCE, INC.

By_________________________                                 _______________
  Name:____________________
  Title:___________________                                 _______________


BANK OF AMERICA, N.A.

By_________________________                                 _______________
  Name:____________________
  Title:___________________                                 _______________

                                       37
<PAGE>

"GUARANTORS"

HOLIDAY RV RENTAL/LEASING, INC.

By_____________________________________              _____________________
  Name: _______________________________
  Title:_______________________________              _____________________

LITTLE VALLEY AUTO & RV SALES, INC.

By_____________________________________              _____________________
  Name: _______________________________
  Title: ______________________________              _____________________

HALL ENTERPRISES, INC.

By_____________________________________              _____________________
  Name: _______________________________
  Title: ______________________________              _____________________

HOLIDAY RV ASSURANCE SERVICES, INC.

By_____________________________________              _____________________
  Name: _______________________________
  Title: ______________________________              _____________________

RECREATION USA INSURANCE CORPORATION

By_____________________________________              _____________________
  Name: _______________________________
  Title: ______________________________              _____________________

HOLIDAY RV'S INSURANCE AGENCY, INC.

By_____________________________________              _____________________
  Name: _______________________________
  Title: ______________________________              _____________________

                                       38
<PAGE>

                                   Exhibit A
                                      To
                          Loan and Security Agreement

          Existing Debt, Liens, Litigation and Contingent Liabilities
          -----------------------------------------------------------

                                       39
<PAGE>

                                   Exhibit B
                                      To
                          Loan and Security Agreement

                          Subsidiaries and Guarantors
                          ---------------------------


Holiday RV Rental/Leasing, Inc., a Florida corporation, Little Valley Auto & RV
Sales, Inc., a West Virginia corporation, Hall Enterprises, Inc., a Kentucky
corporation, Holiday RV's Insurance Agency, Inc., an Arizona corporation,
Holiday RV Assurance Service, Inc., an Arizona corporation and Recreation USA
Insurance Corporation, a Florida corporation.

                                       40
<PAGE>

                                   Exhibit C
                                      To
                          Loan and Security Agreement

                              Weekly Sales Report
                              -------------------

                                       41