<PAGE>

                                                                    Exhibit 10.3

                              CONTRACT FOR DEED FOR
                                 PORTAL DEL MAR

                                    EXHIBIT B
                                    ---------

         THIS AGREEMENT IS made as of this 30th day of April 2001, between
Senior Care International S.A. de C.V., or assignee, ("Buyer"), a Mexican
Corporation and Tri-National Portal, S.A. de C.V., a Mexican Corporation
("Seller"), In consideration of the mutual covenants, agreements,
representations and warranties contained in this Agreement, the parties agree as
follows:

         ARTICLE 1 - Purchase and Sale of Assets

         1.01 - Assets

         The assets to be conveyed, transferred, signed, and delivered, as
provided by this Agreement, shall, without limitation, include an undivided 66
2/3% interest in the Portal Del Mar, 112 unit 2 and 3 bedroom partially
completed condominium development located on approximately 6 acres of land
overlooking the Pacific ocean, (see Note 16 Form 10-QSB for the quarter ended
January 31, 2001, Tri-National Development Corp.) Portal Del Mar Condominiums".
owned by Tri-National Portal, S.A. de C.V., a Mexican Corporation., but does not
include any other assets of Seller ". The assets will be transferred to Buyer at
a price of $6,000,000.

         1.02 - Consideration

         As full payment for the transfer of the assets by Seller to Buyer, the
Latter shall deliver at closing, the following: $6,000,000 of Class F
Convertible Preferred Stock ("Shares") in Senior Care Industries at closing,
redeemable as follows:

                  (i)      AT CLOSE OF ESCROW, THE $6,000,000 PURCHASE PRICE
                           SHALL BE PAID BY SENIOR CARE INTERNATIONAL BY HAVING
                           SENIOR CARE INDUSTRIES ISSUE 100,000 SHARES OF SERIES
                           "F" CONVERTIBLE PREFERRED STOCK CONVERTIBLE 20 TO 1
                           INTO RULE 144 COMMON STOCK UNDER A CONVERSION FORMULA
                           WHEREIN 20% OF THE PREFERRED STOCK MAY BE CONVERTED
                           TO RULE 144 COMMON STOCK IN THE 24TH MONTH AFTER OF
                           THE ACQUISITION BY SENIOR CARE CLOSE (THE FIRST
                           CONVERSION DATE) AND


<PAGE>

                  (ii)     EACH SUCCESSIVE ONE YEAR PERIOD FOLLOWING THE FIRST
                           CONVERSION DATE. (1)

                  (iii)    SENIOR CARE TO HAVE AN IRREVOCABLE OPTION TO ACQUIRE
                           UP TO 100% OF THE 144 STOCK CREATED BY THE CONVERSION
                           ON EACH CONVERSION DATE ON A PRO-RATA BASIS IN
                           INCREMENTS UP TO $1,200,000 AT EACH CONVERSION. (2)

--------
(1) On the 24th month following the close of escrow and for each successive one
year period following the first conversion date, the number of preferred shares
converted shall be adjusted to reflect the average ask price of the rule 144
common stock at time of each conversion, for the prior 10 day period. The amount
of stock to be converted each conversion date shall equal 20% of the purchase
price Example: Based upon the purchase price of $6,000,000, the balance to be
paid through the conversion of preferred stock on the each conversion date would
equal ($6,000,000 * 20% = $1,200,000 on each conversion date. If on the 24 month
after close, the average ask price is $2.50 per share, 24,000 shares of
preferred stock would be converted at a 20 to 1 conversion netting the seller
(24,000 * 20) = 480,000 shares of rule 144 common stock valued at $2.50 per
share for a total of $1,200,000. The same formula will be applied on each
successive one- year period following first conversion date, such that, if on
next conversion date, the average ask price is $5.00 per share, 12,000 shares of
preferred stock would be converted at a 20 to 1 conversion netting the seller
(12,000 * 20) = 240,000 shares of rule 144 common stock valued at $5.00 per
share for a total of $1,200,000 and so on, such that for each successive
conversion, the total shares converted under the formula will reflect the
average stock price. At the end of the fifth conversion, any preferred stock
that is not required for conversion in order to pay the full purchase price
shall be returned to the SENR treasury. In the alternative, additional preferred
stock shall be issued to Seller in the event that the ask price under the
conversion formula results in a requirement for more stock to be issued in order
for Seller to receive the full sales price.

(2) On each conversion date $1,200,000 worth of stock may be converted by the
Seller pursuant to footnote # 1. Senor Care to have up to 30 days after the/
stock converts to acquire all or a portion of the $1,200,000 in stock. The stock
may not be sold or hypothecated to a third party within said 30 day period and
the party converting the stock shall assign its voting rights to the Board of
Directors of Senior Care the day the stock converts and Senior Care's Board
shall have the right to "vote the stock" within said 30 day period.

                                      -2-

<PAGE>

         1.03 - Profit Participation

         Tri-National Development Corp. to receive a 12.5% interest in profits
resultant from the future development and sale of the condominiums referenced
herein, until such time as the Preferred Shares have been converted, thereafter
the interest is reduced to 7.5%.

         1.04 - Default

         In the event Seller is unable to convert any or all of the Shares of
Buyer for the consideration outlined in paragraph 1.01, Buyer will be required
to return the portion of the upaid assets transferred to Buyer pursuant this
agreement no later than 30 days from the notice of default from Seller to Buyer.

         1.05 - Escrow

            The close of escrow for this Agreement will take place on or before
the 30th day of April, 2001 through escrow number 19010777 held at New Century
Title on 1212 N. Tustin Avenue in Orange, California, or another location and or
title company chosen by Buyer. Subsequent to the close, the Buyer will form a
Mexican corporation to take legal possession of the deed to the Assets
referenced in section 1.01 herein.

         1.06 - Taxes

         Buyer shall pay all taxes and fees, arising out of the transfer of the
assets.

         ARTICLE 2 - Representations and Warranties of Seller

         2.01 - Warranties

Seller represents and warrants that;

Organization:

         Seller is a corporation duly organized, validly existing, and in good
standing under the laws of Mexico, has all necessary corporate powers to own and
sell its properties and carry on business as now owned and operated by it and is
in good standing in the United State of Mexico.

Title:
         Seller is the 66-2/3% owner, beneficially and of record, of all assets
identified or referred to in paragraph 1.01 of this Agreement which as of
closing shall be free and clear of all liens, encumbrances, security agreements
and any other restrictions except as previously disclosed, regarding
Silverpointe, Inc., which is the holder of the remaining 33-1/3% ownership and
is responsible pursuant to existing agreements to fund the completion of the
development and receive its invested funds first from sales and thereafter one
third of profits..

Condition of Property:

         Seller confirms that the property identified or referred to in
paragraph 1.01 of this Agreement is fit for human occupation and has not been
used in the past for the deposit or storage of hazardous waste or chemicals and
that it is suitable for its intended purpose as outlined in this Agreement.

                                      -3-

<PAGE>

         2.02 - Absence of Changes

         Since March 1, 1997, there has not been and will not at closing be any
changes in the financial condition or operation of Seller, except changes in the
ordinary course of business, which changes have not in the aggregate been
materially adverse to Buyer's interests.

         2.03 - Compliance With Laws

         Seller represents that, to the best of its knowledge, it has complied
with, and is not in violation of any applicable federal, state or local
statutes, laws or regulations, affecting the assets or operation of the business
of Seller, both in Mexico and in the United States.

         2.04 - No Breach or Violation

         The consummation of the transaction contemplated by this Agreement
shall not result in or constitute any of the following: (i) A breach of any term
or provision of this Agreement; (ii) A default or event that, upon notice or
lapse of time or both, would be a default, breach or violation of the Articles
of Incorporation or Bylaws of Seller, or any lease, license, promissory note,
contract, commitment or other agreement, instrument or arrangement to which
Seller is a party; (iii) An event that would permit any party to terminate any
agreement.

         2.05 - Authority

         Seller has the right, power, legal capacity and authority to enter into
and perform its respective obligations under this Agreement, subject only to its
Board of Directors approval, which should be secured prior to closing.

         2.06 - Full Disclosure

         None of the representations and warranties made by Seller, hereunder,
or on its behalf, contains or shall contain any untrue statement of material
fact, or omits or shall omit any material fact, the omission of which would be
misleading.

         ARTICLE 3 - Representations and Warranties of Buyer

         Buyer represents and warrants that: (i) Organization: Buyer is a
corporation duly organized, validly existing, and in good standing under the
laws of Nevada, has all necessary corporate powers to own and sell its
properties and carry on business as now owned and operated by it and is in good
standing in the State of Nevada; (ii) Pre-existing Relationship: Buyer has a
pre-existing business relationship with Seller of a nature and duration that has
enabled it to evaluate the business and financial circumstances of Seller and
the risks and merits of this acquisition.

                                      -4-

<PAGE>

         ARTICLE 4 - Obligations Before Closing

         4.01 - Seller's Covenants

         Seller covenants that from the date of this Agreement until the
closing: (i) Access to Information: Buyer and its representatives shall have
full access during all business hours to all properties, books, accounts,
records, contracts, and documents of, or relating to the assets and property of
Seller being sold hereunder; (ii) Conduct of Business: Seller shall carry on its
business and activities diligently and in substantially the same manner as it
previously has been carried on, and shall not institute or use any unusual or
novel methods of manufacture, purchase, sale, lease, management, accounting or
operation that shall vary materially from those methods used by Seller as of the
date of this Agreement.

         4.02 - Warranties at Closing

         Representations and warranties of Seller and Buyer set forth in this
Agreement, shall also be true and correct as of the closing date as if made on
that date.

         ARTICLE 5 - Conditions Precedent to Buyers Performance

         5.01 - Conditions

         The obligations of Buyer to purchase the assets under this Agreement
are subject to the satisfaction, at or before closing, of all of the conditions
set out below in this Article 5. Seller may waive any or all of those conditions
in whole or in part without prior notice.

         5.02 - Accuracy of Representations

         Accept as otherwise set forth in this Agreement, all representations
and warranties by Seller in this Agreement shall be true on and as of the
closing date as though made at that time.

         5.03 - Performance of Seller

         Seller shall have performed, satisfied and complied with all covenants,
agreements and conditions required by this Agreement to be performed or complied
with by it on or before the closing date. During the period from execution of
this Agreement by both parties to the closing date, there shall not have been
any material adverse change in the financial condition other than previously
disclosed or the results of operations of Seller and Seller shall not have
sustained any material loss or damage to its assets, whether or not insured,
that materially affects its ability to conduct a material part of its business.

                                      -5-

<PAGE>

         5.04 - Absence of Litigation

         No action, suit or proceeding other than previously disclosed before
any court or any governmental body or authority, pertaining to the transaction
contemplated by this Agreement, shall have been instituted or threatened on or
before closing date.

         5.05 - Consents

         All necessary agreements and consents to the consummation of the
transaction contemplated by this Agreement, if any, shall have been obtained by
Seller and delivered to Buyer at or before closing.

         ARTICLE 6 - Conditions Precedent to Seller's Performance

         6.01 - Conditions

         The obligations of Seller to sell and transfer the assets under this
Agreement are subject to the satisfaction, at or before the closing, of all the
following conditions in this Article 6.

         6.02 - Accuracy of Representations

         Except as otherwise set forth in this Agreement, all representations
and warranties by Buyer in this Agreement shall be true on and as of the closing
date as though made at that time.

         6.03 - Buyers Warranties

         All representations and warranties by Buyer in this Agreement shall be
true on and as of the closing date as though such representations and warranties
were made on and as of that date.

         6.04 - Absence of Litigation

         No action, suit or proceeding before any court or any governmental body
or authority, pertaining to the transaction contemplated by this Agreement,
shall have been instituted or threatened on or before closing date.

         6.05 - Performance of Buyer

         Buyer shall have performed, satisfied and complied with all covenants,
agreements and conditions required by this Agreement to be performed or complied
with by it on or before the closing.

         6.06 - Bankruptcy

         In the event of bankruptcy, receivership or insolvency by the Buyer,
the Seller shall succeed to the rights and or position in the 300 acres and or
any subsequent contracts that may have been entered into for the development of
the property. Neither party shall assign or sell their interest in this
Agreement without the other party's consent, which shall not be unreasonably
withheld. The parties also agree to enter into a formal buy & sell agreement at
the earliest possible date.

                                      -6-

<PAGE>

         6.07 - Consents

         All necessary agreements and consents to the consummation of the
transaction contemplated by this Agreement, if any, shall have been obtained by
Seller and delivered to Buyer at or before closing.

         ARTICLE 7 - The Closing

         7.01 - Closing

         The Closing of the purchase and sale described herein shall take place
on or before April 30, 2001 at 10:00 A.M. Pacific Time, at the offices of Seller
480 Camino del Rio South, San Diego, California or at another time and place
agreeable to the parties.

         7.02 - Seller's Obligations At the Closing

         Seller shall deliver or cause to be delivered to Buyer: (i) Instruments
of placement of all assets or other property of SELLER being acquired hereunder
by Buyer into an escrow, with title being available subject only to receipt by
Seller of full payment pursuant to this Agreement.

         7.03 - Buyers Obligations

         Buyer shall execute and deliver to Seller: (i) Convertible Preferred
Shares in paragraph 1.02 of this Agreement in a form acceptable to Seller.

         ARTICLE 8 - Costs

         8.01 - Expenses

         Each of the parties shall pay all costs and expenses incurred or to be
incurred by it in negotiation and preparation of this Agreement and in closing
and carrying out the transactions contemplated by this Agreement.

         ARTICLE 9 - Form of Agreement

         9.01 - Headings

         The Subject Headings of the paragraphs and subparagraphs of this
Agreement are included for purposes of convenience only, and shall not affect
the construction or interpretation of any of its provisions.

         9.02 - Modification and Waiver

         This Agreement constitutes the agreement between the parties pertaining
to the subject matter contained in it and supersedes all prior and
contemporaneous agreements, representations, and understandings of the parties.
No supplement, modification, or amendment for this Agreement shall be binding
unless executed in writing by all the parties. No Waiver of any of the
provisions of this Agreement shall be deemed, or shall constitute, a Waiver of
any other provisions, whether or not similar, nor shall any Waiver constitute a
continuing Waiver. No Waiver shall be binding unless executed in writing by the
party making the Waiver.

                                      -7-


<PAGE>

         9.03 - Execution of the Agreement

         This Agreement may be executed simultaneously in one or more
counterparts, each of which shall be deemed an original, but all of which
together shall constitute one and the same instrument.

         ARTICLE 10 - Parties

         10.01 - Rights of Parties

         Nothing in this Agreement, whether express or implied, is intended to
confer any rights or remedies under or by reason of this Agreement on any
persons other than the parties to it and their respective successors and
assigns, nor is anything in this Agreement intended to relieve or discharge the
obligation or liability of any third persons to any party to this Agreement, nor
shall any provisions give any third persons any right of subrogation or action
over or against any party to this Agreement.

         10.02 - Assignment

         This Agreement shall be binding on, and shall inure to the benefit of
the parties to it and their respective heirs, legal representatives, successors,
and assigns; provided, however, Buyer may not assign any of its rights under it,
except to a wholly owned subsidiary corporation of Buyer. No such assignment by
Buyer to its wholly owned subsidiary shall relieve Buyer of any of its
obligations or duties under this Agreement.

         ARTICLE 11 - Remedies

         11.01 - Arbitration

         Any controversy or claim arising out of or relating to this Agreement,
or the making, performance, or interpretation thereof, shall be settled by
arbitration in San Diego, California in accordance with the Rules of the
American Arbitration Association then existing, and judgement on the arbitration
award may be entered in any court having jurisdiction over the subject matter of
the controversy.

         11.02 - Time is of the Essence

         Time is of the Essence in this Agreement.

         ARTICLE 12 - Nature and Survival of Representations and Obligations

         12.01 - Effect of Closing

         All representations, warranties, covenants, and agreements of the
parties contained in this Agreement, or in any instrument, certificate, opinion
or other writing provided for in it, shall survive the closing.

                                      -8-


<PAGE>

         ARTICLE 13 - Notices

         All notices, demands and other communications under this Agreement
shall be in writing and shall be deemed to have been duly given on the date of
service if served personally on the party to whom notice is to be given, or on
the third day after mailing if mailed to the party to whom notice is to be
given, by first class mail, registered or certified, postage prepaid, and
properly addressed as follows:

To Seller:        Mr. Michael Sunstein
                  Tri-National Portal, S.A. de C.V.
                  480 Camino del Rio South, Suite 140
                  San Diego, California, 92108

To Buyer:         Mr. Mervyn Phelan
                  Senior Care International, S.A. de C.V.
                  410 Broadway-2nd Floor
                  Laguna Beach, California  92651

         Either party may change its address for purposes of this paragraph by
giving the other party written notice of the new address in the manner set forth
above.

         ARTICLE 14 - Governing Law

         This Agreement shall be construed in accordance with, and governed by,
the laws of the State of California.

         IN WITNESS WHEREOF, the parties to this Agreement have duly executed it
on the 30th day of April, 2001.

SELLER:  /S/ Michael Sunstein
         ------------------------------
BY:      Michael Sunstein, President
         Tri-National Portal, S.A. de C.V.



BUYER:
         /S/ Mervyn Phelan
         ------------------------------
BY:      Mervyn Phelan, President
         Senior Care International S.A. de C.V. .

                                      -9-