PROMISSORY NOTE
    
    
    Principal $15,000,000.00  Loan Date 02-24-1997  Maturity 06-05-1998 
    Loan No  Call  collateral  Account 2755863331 Officer 309  Initials
    References in the shaded area are for Lender's use only and do not limit
    the applicability of this document to any particular loan or item
    Borrower: ELECTRONIC FAB TECHNOLOGY CORP., COLORADO
  CORPORATION
              7251 WEST 4TH STREET
              GREELEY, CO  80634
    Lender: BANK ONE, COLORADO, N.A.
            DOWNTOWN GREELEY BANKING CENTER
            2696 SOUTH COLORADO BLVD.
            DENVER, CO     80222
    
    Principal Amount: $15,000,000.00 Initial Rate: 8.500% Date of Note:
    February 24, 1997
    
    PROMISE TO PAY. ELECTRONIC FAB TECHNOLOGY CORP., A
  COLORADO CORPORATION
    ( Borrower ) promises to pay to BANK ONE, COLORADO, N.A. ( Lender ), or
    order, In lawful money of the United States of America, the principal
    amount of Fifteen Million & 00/100 Dollars ($15,000,000.00) or so much
    as may be outstanding, together with Interest on the unpaid outstanding
    principal balance of each advance. Interest shall be calculated from the
    date of each advance until repayment of each advance.
    
    PAYMENT. Borrower will pay this loan In one payment of all outstanding
    principal plus all accrued unpaid interest on June 5,1998. In addition,
    Borrower will pay regular monthly payments of accrued unpaid Interest
    beginning April 5, 1997, and all subsequent Interest payments are due on
    the same day of each month after that Interest on this Note is computed
    on a 365/360 simple interest basis; that is, by applying the ratio of
    the annual interest rate over a year of 360 days, multiplied by the
    outstanding principal balance, multiplied by the actual number of days
    the principal balance is outstanding. Borrower will pay Lender at
    Lenders address shown above or at such other place as Lender may
    designate in writing. Unless otherwise agreed or required by applicable
    law, payments will be applied first to accrued unpaid interest, then to
    principal, and any remaining amount to any unpaid collection costs and
    late charges.
    
    VARIABLE INTEREST RATE. The interest rate on this Note is subject to
    change from time to time based on changes in an index which is the
    LENDER S PRIME RATE (the index). PRIME RATE IS THE LENDER S BASE
  LENDING
    RATE AS ANNOUNCED BY THE LENDER FROM TIME TO TIME AT ITS
  SOLE
    DISCRETION. AT ANY GIVEN TIME, THE LENDER MAY MAKE LOANS, AT,
  ABOVE, OR
    BELOW ITS PRIME RATE. Lender will tell Borrower the current Index rate
    upon Borrowers request. Borrower understands that Lender may make loans
    based on other rates as well. The interest rate change will not occur
    more often than each DAY. The Index currently Is 8250% per annum. The
    Interest rate to be applied to the unpaid principal balance of this Note
    will be at a rate of 0.250 percentage points over the Index, resulting
    In an Initial rate of 8.500% per annum. NOTICE: Under no circumstances
    will the interest rate on this Note be more than the maximum rate
    allowed by applicable law.
    
    PREPAYMENT; MINIMUM INTEREST CHARGE. Borrower agrees that all loan
  fees
    and other prepaid finance charges are earned fully as of the date of the
    loan and will not be subject to refund upon early payment (whether
    voluntary or as a result of default), except as otherwise required by
    law. In any event, even upon full prepayment of this Note, Borrower
    understands that Lender is entitled to a minimum interest charge of
    $25.00. Other than Borrower s obligation to pay any minimum interest
    charge, Borrower may pay without penalty all or a portion of the amount
    owed earlier than it is due. Early payments will not, unless agreed to
    by Lender in writing, relieve Borrower of Borrowers obligation to
    continue to make payments of accrued unpaid interest. Rather, they will
    reduce the principal balance due.
    
    DEFAULT. Borrower will be in default if any of the following happens:
    (a) Borrower fails to make any payment when due. (b) Borrower breaks any
    promise Borrower has made to Lender, or Borrower fails to comply with or
    to perform when due any other term, obligation, covenant, or condition
    contained in this Note or any agreement related to this Note, or in any
    other agreement or loan Borrower has with Lender. (c) Borrower defaults
    under any loan, extension of credit, security agreement, purchase or
    sales agreement, or any other agreement, In favor of any other creditor
    or person that may materially affect any of Borrower s property or
    Borrower s ability to repay this Note or perform Borrower s obligations
    under this Note or any of the Related Documents. (d) Any representation
    or statement made or furnished to Lender by Borrower or on Borrower s
    behalf is false or misleading in any material respect either now or at
    the time made or furnished. (e) Borrower becomes insolvent, a receiver
    is appointed for any part of Borrowers property, Borrower makes an
    assignment for the benefit of creditors, or any proceeding is commenced
    either by Borrower or against Borrower under any bankruptcy or
    insolvency laws. (f) Any creditor tries to take any of Borrowers
    property on or in which Lender has a lien or security interest. This
    includes a garnishment of any of Borrower s accounts with Lender. (g)
    Any guarantor dies or any of the other events described in this default
    section occurs with respect to any guarantor of this Note. (h) A
    material adverse change occurs in Borrowers financial condition, or
    Lender believes the prospect of payment or performance of the
    Indebtedness is impaired.
    
    LENDER S RIGHTS. Upon default, Lender may declare the entire unpaid
    principal balance on this Note and all accrued unpaid interest
    immediately due, without notice, and then Borrower will pay that amount.
    Upon default, including failure to pay upon final maturity, Lender, at
    its option, may also, il permitted under applicable law, do one or both
    of the following: (a) increase the variable interest rate on this Note
    to 25.000% per annum, and (b) add any unpaid accrued interest to
    principal and such sum will bear interest therefrom until paid at the
    rate provided in this Note (including any increased rate). The interest
    rate will not exceed the maximum rate permitted by applicable law.
    Lender may hire or pay someone else to help collect this Note if
    Borrower does not pay. Borrower also will pay Lender that amount. This
    includes, subject to any limits under applicable law, Lenders attorneys
    fees and Lender s legal expenses whether or not there is a lawsuit,
    including attorneys fees and legal expenses for bankruptcy proceedings
    (including efforts to modify or vacate any automatic stay or
    injunction), appeals, and any anticipated post-judgment collection
    services. If not prohibited by applicable law, Borrower also will pay
    any court costs, in addition to all other sums provided by law. This
    Note has been delivered to Lender and accepted by Lender In the State of
    Colorado. It there Is a lawsuit, Borrower agrees upon Lender s request
    to submit to the jurisdiction of the courts of WELD County, the State of
    Colorado. Lender and Borrower hereby waive the right to any jury trial
    tn any action, proceeding, or counterclaim brought by either Lender or
    Borrower against the other. This Note shall be governed by and construed
    In accordance with the laws of the State of Colorado.
    
    RIGHT OF SETOFF. Borrower grants to Lender a contractual possessory
    security interest in, and hereby assigns, conveys, delivers, pledges,
    and transfers to Lender all Borrowers right, title and interest in and
    to, Borrowers accounts with Lender (whether checking, savings, or some
    other account), including without limitation all accounts held jointly
    with someone else and all accounts Borrower may open in the future,
    excluding however all IRA and Keogh accounts, and all trust accounts for
    which the grant of a security interest would be prohibited by law.
    Borrower authorizes Lender, to the extent permitted by applicable law,
    to charge or setoff all sums owing on this Note against any and all such
    accounts.
    
    LINE OF CREDIT. This Note evidences a revolving line of credit. Advances
    under this Note, as well as directions for payment from Borrowers
    accounts, may be requested orally or In writing by Borrower or by an
    authorized person. Lender may, but need not, require that all oral
    requests be confirmed in writing. Borrower agrees to be liable for all
    sums either: (a) advanced in accordance with the instructions of an
    authorized person or (b) credited to any of Borrowers accounts with
    Lender. The unpaid principal balance owing on this Note at any time may
    be evidenced by endorsements on this Note or by Lenders internal
    records, including daily computer print-outs. Lender will have no
    obligation to advance funds under this Note if: (a) Borrower or any
    guarantor is in default under the terms of this Note or any agreement
    that Borrower or any guarantor has with Lender, including any agreement
    made in connection with the signing of this Note; (b) Borrower or any
    guarantor ceases doing business or is insolvent- (c) any guarantor
    seeks, claims or otherwise attempts to limit, modify or revoke such
    guarantor s guarantee of this Note or any other loan with Lender; or (d)
    Borrower has applied funds provided pursuant to this Note for purposes
    other than those authorized by Lender.
    
    GENERAL PROVISIONS. Lender may delay or forgo enforcing any of its
    rights or remedies under this Note without losing them. Borrower and any
    other person who signs, guarantees or endorses this Note, to the extent
    allowed by law, waive presentment, demand for payment, protest and
    notice of dishonor. Upon any change in the terms of this Nob, and unless
    otherwise expressly stated in writing, no party who signs this Note,
    whether as maker guarantor, accommodation maker or endorser, shall be
    released from liability. All such parties agree that Lender may renew or
    extend (repeatedly and for any length of time) this loan, or release any
    party or guarantor or collateral; or impair, fail to realize upon or
    perfect Lender s security interest in the collateral; and take any other
    action deemed necessary by Lender without the consent of or notice to
    anyone. All such parties also agree that Lender may modify this loan
    without the consent of or notice to anyone other than the party with
    whom the modification is made.
        <PAGE>
02-24-1997 PROMISSORY NOTE Page 2
    Loan No (Continued)
    
    PRIOR TO SIGNING THIS NOTE, BORROWER READ AND UNDERSTOOD
  ALL THE
    PROVISIONS OF THIS NOTE, INCLUDING THE VARIABLE INTEREST RATE
    PROVISIONS. BORROWER AGREES TO THE TERMS OF THE NOTE AND
  ACKNOWLEDGES
    RECEIPT OF A COMPLETED COPY OF THE NOTE. 
    
    BORROWER:
    
    ELECTRONIC FAB TECHNOLOGY CORP., A COLORADO CORPORATION
    
    By:  JACK CALDERON                 
         JACK CALDERON, PRESIDENT & CEO  
    By:  STUART W. FUHLENDORF          
             STUART W. FUHLENDORF, CFO & TREASURER<PAGE>
PROMISSORY NOTE
    
    
    Principal $4,900,000.00  Loan Date 02-24-1997  Maturity 05-24-1997  Loan
    No  Call  collateral  Account 2755863331 Officer 309  Initials
    References in the shaded area are for Lender's use only and do not limit
    the applicability of this document to any particular loan or item
    Borrower:    ELECTRONIC FAB TECHNOLOGY CORP., A 
            COLORADO CORPORATION
            7251 WEST 4TH STREET
            GREELEY, CO 80634
    Lender:      BANK ONE, COLORADO, N.A.
            DOWNTOWN GREELEY BANKING CENTER
            2696 SOUTH COLORADO BLVD.
            DENVER, CO     80222
    
    Principal Amount: $4,900,000.00 Initial Rate: 8.500% Date of Note:
    February 24, 1997
    
    PROMISE TO PAY. ELECTRONIC FAB TECHNOLOGY CORP., A
  COLORADO CORPORATION
    ( Borrower ) promises to pay to BANK ONE, COLORADO, N.A. ( Lender ), or
    order, In lawful money of the United States of America, the principal
    amount of Four Million Nine Hundred Thousand & 00/100 Dollars
    ($4,900,000.00), together with Interest on the unpaid outstanding
    principal balance from February 24, 1997, until paid in full.
    
    PAYMENT. Borrower will pay this loan In one principal payment of
    $4,900,000.00 plus interest on May 24, 1997.  This payment due May 24,
    1997, will be for all principal and accrued interest not yet paid. 
    Interest on this Note is computed on a 365/360 simple interest basis;
    that is, by applying the ratio of the annual interest rate over a year
    of 360 days, multiplied by the outstanding principal balance, multiplied
    by the actual number of days the principal balance is outstanding.
    Borrower will pay Lender at Lenders address shown above or at such other
    place as Lender may designate in writing. Unless otherwise agreed or
    required by applicable law, payments will be applied first to accrued
    unpaid interest, then to principal, and any remaining amount to any
    unpaid collection costs and late charges.
    
    VARIABLE INTEREST RATE. The interest rate on this Note is subject to
    change from time to time based on changes in an index which is the
    LENDER S PRIME RATE (the index). PRIME RATE IS THE LENDER S BASE
  LENDING
    RATE AS ANNOUNCED BY THE LENDER FROM TIME TO TIME AT ITS
  SOLE
    DISCRETION. AT ANY GIVEN TIME, THE LENDER MAY MAKE LOANS, AT,
  ABOVE, OR
    BELOW ITS PRIME RATE. Lender will tell Borrower the current Index rate
    upon Borrowers request. Borrower understands that Lender may make loans
    based on other rates as well. The interest rate change will not occur
    more often than each DAY. The Index currently Is 8.250% per annum. The
    Interest rate to be applied to the unpaid principal balance of this Note
    will be at a rate of 0.250 percentage points over the Index, resulting
    In an Initial rate of 8.500% per annum. NOTICE: Under no circumstances
    will the interest rate on this Note be more than the maximum rate
    allowed by applicable law.
    
    PREPAYMENT; MINIMUM INTEREST CHARGE. In any event, even upon full
    prepayment of this Note, Borrower understands that Lender is entitled to
    a minimum interest charge of $25.00. Other than Borrower s obligation to
    pay any minimum interest charge, Borrower may pay without penalty all or
    a portion of the amount owed earlier than it is due. Early payments will
    not, unless agreed to by Lender in writing, relieve Borrower of
    Borrowers obligation to continue to make payments under the payment
    schedule. Rather, they will reduce the principal balance due.
    
    DEFAULT. Borrower will be in default if any of the following happens:
    (a) Borrower fails to make any payment when due. (b) Borrower breaks any
    promise Borrower has made to Lender, or Borrower fails to comply with or
    to perform when due any other term, obligation, covenant, or condition
    contained in this Note or any agreement related to this Note, or in any
    other agreement or loan Borrower has with Lender. (c) Borrower defaults
    under any Ioan, extension of credit, security agreement, purchase or
    sales agreement, or any other agreement, In favor of any other creditor
    or person that may materially affect any of Borrower s property or
    Borrower s ability to repay this Note or perform Borrower s obligations
    under this Note or any of the Related Documents. (d) Any representation
    or statement made or furnished to Lender by Borrower or on Borrower s
    behalf is false or misleading in any material respect either now or at
    the time made or furnished. (e) Borrower becomes insolvent, a receiver
    is appointed for any part of Borrowers property, Borrower makes an
    assignment for the benefit of creditors, or any proceeding is commenced
    either by Borrower or against Borrower under any bankruptcy or
    insolvency laws. (f) Any creditor tries to take any of Borrowers
    property on or in which Lender has a lien or security interest. This
    includes a garnishment of any of Borrower s accounts with Lender. (g)
    Any guarantor dies or any of the other events described in this default
    section occurs with respect to any guarantor of this Note. (h) A
    material adverse change occurs in Borrowers financial condition, or
    Lender believes the prospect of payment or performance of the
    Indebtedness is impaired.
    
    LENDER S RIGHTS. Upon default, Lender may declare the entire unpaid
    principal balance on this Note and all accrued unpaid interest
    immediately due, without notice, and then Borrower will pay that amount.
    Upon default, including failure to pay upon final maturity, Lender, at
    its option, may also, il permitted under applicable law, do one or both
    of the following: (a) increase the variable interest rate on this Note
    to 25.000% per annum, and (b) add any unpaid accrued interest to
    principal and such sum will bear interest therefrom until paid at the
    rate provided in this Note (including any increased rate). The interest
    rate will not exceed the maximum rate permitted by applicable law.
    Lender may hire or pay someone else to help collect this Note if
    Borrower does not pay. Borrower also will pay Lender that amount. This
    includes, subject to any limits under applicable law, Lenders attorneys
    fees and Lender s legal expenses whether or not there is a lawsuit,
    including attorneys fees and legal expenses for bankruptcy proceedings
    (including efforts to modify or vacate any automatic stay or
    injunction), appeals, and any anticipated postjudgment collection
    services. If not prohibited by applicable law, Borrower also will pay
    any court costs, in addition to all other sums provided by law. This
    Note has been delivered to Lender and accepted by Lender In the State of
    Colorado. If there Is a lawsuit, Borrower agrees upon Lender s request
    to submit to the jurisdiction of the courts of WELD County, the State of
    Colorado. Lender and Borrower hereby waive the right to any jury trial
    to any action, proceeding, or counterclaim brought by either Lender or
    Borrower against the other. This Note shall be governed by and construed
    In accordance with the laws of the State of Colorado.
    
    RIGHT OF SETOFF. Borrower grants to Lender a contractual possessory
    security interest in, and hereby assigns, conveys, delivers, pledges,
    and transfers to Lender all Borrowers right, title and interest in and
    to, Borrowers accounts with Lender (whether checking, savings, or some
    other account), including without limitation all accounts held jointly
    with someone else and all accounts Borrower may open in the future,
    excluding however all IRA and Keogh accounts, and all trust accounts for
    which the grant of a security interest would be prohibited by law.
    Borrower authorizes Lender, to the extent permitted by applicable law,
    to charge or setoff all sums owing on this Note against any and all such
    accounts.
    
    GENERAL PROVISIONS. Lender may delay or forgo enforcing any of its
    rights or remedies under this Note without losing them. Borrower and any
    other person who signs, guarantees or endorses this Note, to the extent
    allowed by law, waive presentment, demand for payment, protest and
    notice of dishonor. Upon any change in the terms of this Note, and
    unless otherwise expressly stated in writing, no party who signs this
    Note, whether as maker guarantor, accommodation maker or endorser, shall
    be released from liability. All such parties agree that Lender may renew
    or extend (repeatedly and for any length of time) this loan, or release
    any party or guarantor or collateral; or impair, fail to realize upon or
    perfect Lender s security interest in the collateral; and take any other
    action deemed necessary by Lender without the consent of or notice to
    anyone. All such parties also agree that Lender may modify this loan
    without the consent of or notice to anyone other than the party with
    whom the modification is made.
    
    PRIOR TO SIGNING THIS NOTE, BORROWER READ AND UNDERSTOOD
  ALL THE
    PROVISIONS OF THIS NOTE, INCLUDING THE VARIABLE INTEREST RATE
    PROVISIONS. BORROWER AGREES TO THE TERMS OF THE NOTE AND
  ACKNOWLEDGES
    RECEIPT OF A COMPLETED COPY OF THE NOTE. 
    
    BORROWER:
    
    ELECTRONIC FAB TECHNOLOGY CORP., A COLORADO CORPORATION
    
    By:   Jack Calderon                        
       JACK CALDERON, PRESIDENT & CEO  
    By:   Stuart W. Fuhlendorf                 
          STUART W. FUHLENDORF, CFO & TREASURER
        <PAGE>
PROMISSORY NOTE
    
    
    Principal $1,800,000.00  Loan Date 02-24-1997  Maturity 04-05-2002  Loan
    No  Call  collateral  Account 2755863331 Officer 309  Initials
    References in the shaded area are for Lender's use only and do not limit
    the applicability of this document to any particular loan or item
    Borrower:    ELECTRONIC FAB TECHNOLOGY CORP., A 
            COLORADO CORPORATION
            7251 WEST 4TH STREET
            GREELEY, CO 80634
    Lender:      BANK ONE, COLORADO, N.A.
            DOWNTOWN GREELEY BANKING CENTER
            2696 SOUTH COLORADO BLVD.
            DENVER, CO     80222
    
    Principal Amount: $1,800,000.00 Initial Rate: 8.950% Date of Note:
    February 24, 1997
    
    PROMISE TO PAY. ELECTRONIC FAB TECHNOLOGY CORP., A
  COLORADO CORPORATION
    ( Borrower ) promises to pay to BANK ONE, COLORADO, N.A. ( Lender ), or
    order, In lawful money of the United States of America, the principal
    amount of One Million Eight Hundred Thousand & 00/100 Dollars
    ($1,800,000.00), together with Interest on the unpaid outstanding
    principal balance from February 24, 1997, until paid in full.
    
    PAYMENT. Subject to any payment changes resulting from changes in the
    index, Borrower willpay this loan in 60 regualr payments of $36,983.00
    each and one irregular last payment estimated at $41,346.99. Borrower's
    first payment is due April 5, 1997, and all subsequent payments are due
    on the same day of each month after that.  Borrowr's final payment due
    April 5, 2002, will be for all principal and all accrued interest not
    yet paid.  Payments include principal and interest.  Interest on this
    Note is computed on a 365/360 simple interest basis; that is, by
    applying the ratio of the annual interest rate over a year of 360 days,
    multiplied by the outstanding principal balance, multiplied by the
    actual number of days the principal balance is outstanding. Borrower
    will pay Lender at Lenders address shown above or at such other place as
    Lender may designate in writing. Unless otherwise agreed or required by
    applicable law, payments will be applied first to accrued unpaid
    interest, then to principal, and any remaining amount to any unpaid
    collection costs and late charges.
    
    VARIABLE INTEREST RATE. The interest rate on this Note is subject to
    change from time to time based on changes in an independent index which
    is the Weekly Average Yield on United States Treasury Securities
    adjusted to a constant maturity of (5) five years, as made available by
    the Federal Reserve Board (the "Index").  The Index is not necessarily
    the lowest rate charged by Lender on its loans.  If the Index becomes
    unavailable during the term of this loand, Lender may designate a
    substitute index after notice to Borrower.  Lender will tell Borrower
    the current Index rate upon Borrower's request.  Borrower understands
    that Lender may make loans based on other rates as well.  The interest
    rate change will not occur more often than each Five years.  The Index
    currently is 6.200% per annum.  The interest rate to be applied to the
    unpaid principal balance of this Note will be at a rate of 2.750
    percentage points over the Index, resulting in an initial rate of 8.950%
    per annum. NOTICE: Under no circumstances will the interest rate on this
    Note be more than the maximum rate allowed by applicable law.  Whenever
    increases occur in the interest rate, Lender, at its option, may do one
    or more of the following:  (a) increase Borrower's payments to ensure
    Borrower's loan will pay off by its original final maturity date, (b)
    increase Borrower's payments to cover accruing interest, (c) increase
    the number of Borrower's payments, and (d) continue Borrower's payments
    at the same amount and increase Borrower's final payment.
    
    PREPAYMENT; MINIMUM INTEREST CHARGE. Borrower agrees that all loan
  fees
    and other prepaid finance charges are earned fully as of the date of the
    loan and will not be subject to refund upon early payment(whether
    voluntary or as a result of default), except as other wise required by
    law.  In any event, even upon full prepayment of this Note, Borrower
    understands that Lender is entitled to a minimum interest charge of
    $25.00. Other than Borrower s obligation to pay any minimum interest
    charge, Borrower may pay without penalty all or a portion of the amount
    owed earlier than it is due. Early payments will not, unless agreed to
    by Lender in writing, relieve Borrower of Borrowers obligation to
    continue to make payments under the payment schedule. Rather, they will
    reduce the principal balance due and may result in Borrower making fewer
    payments.
    
    DEFAULT. Borrower will be in default if any of the following happens:
    (a) Borrower fails to make any payment when due. (b) Borrower breaks any
    promise Borrower has made to Lender, or Borrower fails to comply with or
    to perform when due any other term, obligation, covenant, or condition
    contained in this Note or any agreement related to this Note, or in any
    other agreement or loan Borrower has with Lender. (c) Borrower defaults
    under any Ioan, extension of credit, security agreement, purchase or
    sales agreement, or any other agreement, In favor of any other creditor
    or person that may materially affect any of Borrower s property or
    Borrower s ability to repay this Note or perform Borrower s obligations
    under this Note or any of the Related Documents. (d) Any representation
    or statement made or furnished to Lender by Borrower or on Borrower s
    behalf is false or misleading in any material respect either now or at
    the time made or furnished. (e) Borrower becomes insolvent, a receiver
    is appointed for any part of Borrowers property, Borrower makes an
    assignment for the benefit of creditors, or any proceeding is commenced
    either by Borrower or against Borrower under any bankruptcy or
    insolvency laws. (f) Any creditor tries to take any of Borrowers
    property on or in which Lender has a lien or security interest. This
    includes a garnishment of any of Borrower s accounts with Lender. (g)
    Any guarantor dies or any of the other events described in this default
    section occurs with respect to any guarantor of this Note. (h) A
    material adverse change occurs in Borrowers financial condition, or
    Lender believes the prospect of payment or performance of the
    Indebtedness is impaired.
    
    LENDER S RIGHTS. Upon default, Lender may declare the entire unpaid
    principal balance on this Note and all accrued unpaid interest
    immediately due, without notice, and then Borrower will pay that amount.
    Upon default, including failure to pay upon final maturity, Lender, at
    its option, may also, if permitted under applicable law, do one or both
    of the following: (a) increase the variable interest rate on this Note
    to 25.000% per annum, and (b) add any unpaid accrued interest to
    principal and such sum will bear interest therefrom until paid at the
    rate provided in this Note (including any increased rate). The interest
    rate will not exceed the maximum rate permitted by applicable law.
    Lender may hire or pay someone else to help collect this Note if
    Borrower does not pay. Borrower also will pay Lender that amount. This
    includes, subject to any limits under applicable law, Lenders attorneys
    fees and Lender s legal expenses whether or not there is a lawsuit,
    including attorneys fees and legal expenses for bankruptcy proceedings
    (including efforts to modify or vacate any automatic stay or
    injunction), appeals, and any anticipated postjudgment collection
    services. If not prohibited by applicable law, Borrower also will pay
    any court costs, in addition to all other sums provided by law. This
    Note has been delivered to Lender and accepted by Lender In the State of
    Colorado. If there Is a lawsuit, Borrower agrees upon Lender s request
    to submit to the jurisdiction of the courts of WELD County, the State of
    Colorado. Lender and Borrower hereby waive the right to any jury trial
    to any action, proceeding, or counterclaim brought by either Lender or
    Borrower against the other. This Note shall be governed by and construed
    In accordance with the laws of the State of Colorado.
    
    RIGHT OF SETOFF. Borrower grants to Lender a contractual possessory
    security interest in, and hereby assigns, conveys, delivers, pledges,
    and transfers to Lender all Borrowers right, title and interest in and
    to, Borrowers accounts with Lender (whether checking, savings, or some
    other account), including without limitation all accounts held jointly
    with someone else and all accounts Borrower may open in the future,
    excluding however all IRA and Keogh accounts, and all trust accounts for
    which the grant of a security interest would be prohibited by law.
    Borrower authorizes Lender, to the extent permitted by applicable law,
    to charge or setoff all sums owing on this Note against any and all such
    accounts.
    
    GENERAL PROVISIONS. Lender may delay or forgo enforcing any of its
    rights or remedies under this Note without losing them. Borrower and any
    other person who signs, guarantees or endorses this Note, to the extent
    allowed by law, waive presentment, demand for payment, protest and
    notice of dishonor. Upon any change in the terms of this Note, and
    unless otherwise expressly stated in writing, no party who signs this
    Note, whether as maker guarantor, accommodation maker or endorser, shall
    be released from liability. All such parties agree that Lender may renew
    or extend (repeatedly and for any length of time) this loan, or release
    any party or guarantor or collateral; or impair, fail to realize upon or
    perfect Lender s security interest in the collateral; and take any other
    action deemed necessary by Lender without the consent of or notice to
    anyone. All such parties also agree that Lender may modify this loan
    without the consent of or notice to anyone other than the party with
    whom the modification is made.
    
    PRIOR TO SIGNING THIS NOTE, BORROWER READ AND UNDERSTOOD
  ALL THE
    PROVISIONS OF THIS NOTE, INCLUDING THE VARIABLE INTEREST RATE
    PROVISIONS. BORROWER AGREES TO THE TERMS OF THE NOTE AND
  ACKNOWLEDGES
    RECEIPT OF A COMPLETED COPY OF THE NOTE. 
    
    BORROWER:
    
    ELECTRONIC FAB TECHNOLOGY CORP., A COLORADO CORPORATION
    
    By:   Jack Calderon                        
       JACK CALDERON, PRESIDENT & CEO  
    By:   Stuart W. Fuhlendorf                 
          STUART W. FUHLENDORF, CFO & TREASURER
    
    
    
    
    
    COMMERCIAL SECURITY AGREEMENT
    
    Principal  Loan date 02-24-1997  Maturity 05-24-1997  Loan No  Call 
    collateral  Account 2755863331 
    Officer 309  Initials
    References in the shaded area are for Lender's use only and do not limit
    the applicability of this document to any particular loan or item.
    Borrower:    ELECTRONIC FAB TECHNOLOGY CORP., A
                COLORADO CORPORATION
            7251 WEST 4TH STREET
            GREELEY, CO 80634
    Lender: BANK ONE, COLORADO, N.A.
            DOWNTOWN GREELEY BANKING CENTER 
            2696 SOUTH COLORADO BLVD.
            DENVER, CO 80222
    
    Grantor:     ELECTRONIC FAB TECHNOLOGY CORP., A COLORADO
  CORPORATION,
                   CURRENT ELECTRONICS (WASHINGTON), INC., A WASHINGTON
                   CORPORATION and CURRENT ELECTRONICS, INC., AN OREGON
                   CORPORATION f/k/a CURRENT MERGER CORP.
    
    THIS COMMERCIAL SECURITY AGREEMENT 15 entered Into among
  ELECTRONIC FAB
    TECHNOLOGY CORP., A COLORADO CORPORATION (referred to below as
    "Borrower"); ELECTRONIC FAB TECHNOLOGY CORP., A COLORADO
  CORPORATION,
    CURRENT ELECTRONICS (WASHINGTON), INC., A WASHINGTON
  CORPORATION and
    CURRENT ELECTRONICS, INC., AN OREGON CORPORATION f/k/a
  CURRENT MERGER
    CORP. (referred to below Individually and collectively as "Grantor");
    and BANK ONE, COLORADO, N.A. {referred to below as "Lender"). For
    valuable consideration, Grantor grants to Lender a security Interest In
    the Collateral to secure the Indebtedness and agrees that Lender shall
    have tho rights stated In this Agreement with respect to the Collateral,
    In addition to all other rights which Lender may have by law.
    
    DEFINITIONS. The following words shall have the following meanings when
    used In this Agreement. Terms not otherwise defined In this Agreement
    shall have the meanings attributed to such terms in the Uniform
    Commercial Code. All references to dollar amounts shall mean amounts in
    lawful money of the United States of America.
    
    Agreement. The word "Agreement means this Commercial Security Agreement,
    as this Commercial Security Agreement may be amended or modified from
    time to time, together with all exhibits and schedules attached to this
    Commercial Security Agreement from time to time.
    
    Borrower. The word "borrower" means each and every person or entity
    signing the Note, including without limitation ELECTRONIC FAB
  TECHNOLOGY
    CORP., A COLORADO CORPORATION.
    
    Collateral. The word "Collateral means the following described property
    of Grantor, whether now owned or hereafter acquired, whether now
    existing or hereafter arising, and wherever located:
    
    All Inventory, chattel paper, accounts, equipment, general Intangibles
    and fixtures, together with the following specifically described
    property: INCLUDING ALL CONTRACT RIGHTS
    
    In addition, the word "Collateral" includes all the following, whether
    now owned or hereafter acquired, whether now existing or hereafter
    arising, and wherever located:
    
    (a) All attachments, accessions, accessories, tools, parts, supplies,
    increases, and additions to and all replacements of and substitutions
    for any property described above.
    
    (b) All products and produce of any of the property described in this
    Collateral section.
    
    (c) All accounts, general intangibles, instruments, rents, monies,
    payments, and all other rights, arising out of a sale, lease, or other
    disposition of any of the property described in this Collateral section.
    
    (d) All proceeds (including insurance proceeds) from the sale,
    destruction, loss, or other disposition of any of the property described
    In this Collateral section.
    
    (e) All records and data relating to any of the property described in
    this Collateral section, whether in the form of a writing, photograph,
    microfilm, microfiche, or electronic media, together with all of
    Grantor's right, title, and Interest in and to all computer software
    required to utilize, create, maintain, and process any such records or
    data on electronic media.
    
    Fixtures are and will be located on the following described real estate:
    
    SEE THE ATTACHED EXHIBIT "B" FOR COMPLETE LEGAL DESCRIPTION
  OF FIXTURES.
    The record owners of the real property are HEWITSON 1 PROPERTIES, INC.,
    HHH PROPERTIES, INC. and D & D SCHMITZ INVESTMENTS, INC.,,
    
    Event of Default. The words event of Default" mean and include without
    limitation any of the Events of Default set forth below in the section
    titled events of Default."
    
    Grantor. The word "Grantor" means ELECTRONIC FAB TECHNOLOGY
  CORP., A
    COLORADO CORPORATION, CURRENT ELECTRONICS (WASHINGTON),
  INC., A
    WASHINGTON CORPORATION and CURRENT ELECTRONICS, INC., AN
  OREGON
    CORPORATION f/k\a CURRENT MERGER CORP.. Any Grantor who signs this
    Agreement, but does not sign the Note, is signing this Agreement only to
    grant a security interest in Grantor's Interest in the Collateral to
    Lender and is not personally liable under the Note except as otherwise
    provided by contract or law (e.g., personal liability under a guaranty
    or as a surety).
    
    Guarantor. The word wGuarantor" means and includes without limitation
    each and all of the guarantors, sureties, and accommodation parties in
    connection with the Indebtedness
    
    Indebtedness. The word lndebtedness" means the indebtedness evidenced by
    the Note, including all principal and interest, together with all other
    indebtedness and costs and expenses for which Grantor or Borrower is
    responsible under this Agreement or under any of the Related Documents.
    In addition, the word "Indebtedness" includes all other obligations,
    debts and liabilities, plus interest thereon, of Borrower, w any one or
    more of them, to Lender, as well as all claims by Lender against
    Borrower, or any one or more of them, whether existing now or later;
    whether they are voluntary or involuntary, due or not due, direct or
    indirect, absolute or contingent, liquidated or unliquidated; whether
    Borrower may be liable Individually or Jointly with others; whether
    Borrower may be obligated as guarantor, surety accommodation party or
    otherwise whether recovery upon such indebtedness may be or hereafter
    may become barred by any statute of limitations; and whether such
    indebtedness may be or hereafter may become otherwise unenforceable.
    
    Lender. The word "lender" means BANK ONE, COLORADO, NA., its
  successors
    and assigns.
    
    Note. The word "Note" means the note or credit agreement dated February
    24, 1997, In the principal amount of $4,900,000.00 from Borrower to
    Lender, together with all renewals of, extensions of, modifications of,
    refinancing of, consolidations of and substitutions for the nob or
    credit agreement.
    
    Related Documents. The words rRelated Documents" mean and include
    without limitation all promissory notes, credit agreements, loan
    agreements, environmental agreements, guaranties, security agreements,
    mortgages, deeds of trust, and all other Instruments, agreements and
    documents, whether now or hereafter existing, executed in connection
    with the Indebtedness.
    
    BORROWER'S WAIVERS AND RESPONSIBILITIES. Except as otherwise
  required
    under this Agreement or by applicable law, (a) Borrower agrees that
    Lender need not tell Borrower about any action or inaction Lender takes
    In connection with this Agreement; (b) Borrower assumes the
    responsibility for being and keeping Informed about the Collateral; and
    (c) Borrower waives any defenses that may arise because of any action or
    inaction of Lender, including without limitation any failure of Lender
    to realize upon the Collateral or any delay by Lender in realizing upon
    the Collateral; and Borrower agrees to remain liable under the Note no
    matter what action Lender takes or fails to take under this Agreement.
    
    GRANTOR'S REPRESENTATIONS AND WARRANTIES. Grantor warrants
  that: (a)
    this Agreement is executed at Borrower's request and not at the request
    of Lender; (b) Grantor has the full right, power and authority to enter
    into this Agreement and to pledge the Collateral to Lender; (c) Grantor
    has established adequate means of obtaining from Borrower on a
    continuing basis Information about Borrower's financial condition; and
    (d) Lender has made no representation to Grant about Borrower or
    Borrower's creditworthiness.
    
    GRANTOR'S WAIVERS. Grantor waives all requirements of presentment,
    protest, demand, and notice of dishonor or non-payment to Grantor
    Borrower, or any other party to the Indebtedness or the Collateral.
    Lender may do any of the following with respect to any obligation of any
    Borrower without first obtaining the consent of Grantor: (a) grant any
    extension of time for any payment, (b) grant any renewal, (c) permit any
    modification of payment terms or other terms, or (d) exchange or release
    any Collateral or other security. No such act or failure to act shall
    affect Lender's rights against Grantor or the Collateral.
    
    02-24-1997 COMMERCIAL SECURITY AGREEMENT Page 2 Loan No
  (Continued)
    
    If now or hereafter (a) Borrower shall be or become insolvent, and (b)
    the Indebtedness shall not at all times until paid be fully secured by
    collateral pledged by Borrower, Grantor hereby forever waives and
    relinquishes in favor of Lender and Borrower, and their respective
    successors, any claim or right to payment Grantor may now have or
    hereafter have or acquire against Borrower, by subrogation or otherwise,
    so that at no time shall Grantor be or become a creditor" of Borrower
    within the meaning of 11 U.S.C. section 547(b), or any successor
    provision of the Federal bankruptcy laws.
    
    RIGHT OF SETOFF. Grantor hereby grants Lender a contractual possessory
    security interest in and hereby assigns, conveys, delivers, pledges, and
    transfers all of Grantor s right, title and interest in and to Grantor s
    accounts with Lender (whether checking, savings, or some other account),
    including all accounts held jointly with someone else and all accounts
    Grantor may open in the future, excluding, however, all IRA and Keogh
    accounts, and all trust accounts for which the grant of a security
    interest would be prohibited by law. Grantor authorizes Lender, to the
    extent permitted by applicable law, to charge or setoff all Indebtedness
    against any and all such accounts.
    
    OBLIGATIONS OF GRANTOR. Grantor warrants and covenants to Lender as
    follows:
    
    Perfection of Security Interest. Grantor agrees to execute such
    financing statements and to take whatever other actions are requested by
    Lender to perfect and continue Lenders security interest In the
    Collateral. Upon request of Lender, Grantor will deliver to Lender any
    and all of the documents evidencing or constituting the Collateral, and
    Grantor will note Lenders interest upon any and all chattel paper if not
    delivered to Lender for possession by Lender. Grantor hereby appoints
    Lender as its irrevocable attorney-in-fact for the purpose of executing
    any documents necessary to perfect or to continue the security interest
    granted in this Agreement. Lender may at any time, and without further
    authorization from Grantor, file a carbon, photographic or other
    reproduction of any financing statement or of this Agreement for use as
    a financing statement. Grantor will reimburse Lender for all expenses
    for the perfection and the continuation of the perfection of Lender s
    security interest In the Collateral. Grantor promptly will notify Lender
    before any change in Grantors name including any change to the assumed
    business names of Grantor. This Is a continuing Security Agreement and
    will continue In effect even though all or any part of the Indebtedness
    Is paid In full and even though for a period of time Borrower may not be
    Indebted to Lender.
    
    No Violation. The execution and delivery of this Agreement will not
    violate any law or agreement governing Grantor or to which Grantor is a
    party, and its articles or agreements relating to entity incorporation,
    organization or existence do not prohibit any term or condition of this
    Agreement.
    
    Enforceability of Collateral. To the extent the Collateral consists of
    accounts, chattel paper, or general intangibles, the Collateral is
    enforceable in accordance with its terms, is genuine, and complies with
    applicable laws concerning form, content and manner of preparation and
    execution, and all persons appearing to be obligated on the Collateral
    have authority and capacity to contract and are in fact obligated as
    they appear to be on the Collateral. At the time any account becomes
    subject to a security interest in favor of Lender, the account shall be
    a good and valid account representing an undisputed, bona fide
    indebtedness incurred by the account debtor, for merchandise held
    subject to delivery instructions or theretofore shipped or delivered
    pursuant to a contract of sale, or for services theretofore performed by
    Grantor with or for the account debtor; there shall be no setoffs or
    counterclaims against any such account; and no agreement under which any
    deductions or discounts may be claimed shall have been made with the
    account debtor except those disclosed to Lender in writing.
    
    Location of the Collateral. Grantor, upon request of Lender, will
    deliver to Lender in form satisfactory to Lender a schedule of real
    properties and Collateral locations relating to Grantors operations,
    including without limitation the following: (a) all real property owned
    or being purchased by Grantor; (b) all real property being rented or
    leased by Grantor; (c) all storage facilities owned, rented, leased, or
    being used by Grantor; and (d) all other properties where Collateral is
    or may be located. Except in the ordinary course of its business,
    Grantor shall not remove the Collateral from its existing locations
    without the prior written consent of Lender.
    
    Removal of Collateral. Grantor shall keep the Collateral (or to the
    extent the Collateral consists of intangible property such as accounts
    the records concerning the Collateral) at Grantor s address shown above,
    or at such other locations as are acceptable to Lender. Some or all of
    the Collateral may be located at the real property described above.
    Except in the ordinary course of its business, including the sales of
    inventory, Grantor shall not remove the Collateral from its existing
    locations without the prior written consent of Lender. To the extent
    that the Collateral consists of vehicles, or other titled property,
    Grantor shall not take or permit any action which would require
    application for certificates of title for the vehicles outside the State
    of Colorado, without the prior written consent of Lender.
    
    Transactions Involving Collateral. Except for inventory sold or accounts
    collected in the ordinary course of Grantor s business, Grantor shall
    not sell, offer to sell, or otherwise transfer or dispose of the
    Collateral. While Grantor Is not in default under this Agreement,
    Grantor may sell inventory, but only in the ordinary course of its
    business and only to buyers who qualify as a buyer in the ordinary
    course of business. A sale in the ordinary course of Grantors business
    does not include a transfer in partial or total satisfaction of a debt
    or any bulk sale. Grantor shall not pledge, mortgage, encumber or
    otherwise permit the Collateral to be subject to any lien, security
    Interest, encumbrance, or charge, other than the security interest
    provided for in this Agreement, without the prior written consent of
    Lender. This includes security interests even If Junior in right to the
    security interests granted under this Agreement. Unless waived by
    Lender, all proceeds from any disposition of the Collateral (for
    whatever reason) shall be held in trust for Lender and shall not be
    commingled with any other funds; provided however, this requirement
    shall not constitute consent by Lender to any sale or other disposition.
    Upon receipt, Grantor shall immediately deliver any such proceeds to
    Lender.
    
    Title. Grantor represents and warrants to Lender that it holds good and
    marketable title to the Collateral, free and clear of all liens and
    encumbrances except for the lien of this Agreement. No financing
    statement covering any of the Collateral is on file in any public office
    other than those which reflect the security Interest created by this
    Agreement or to which Lender has specifically consented. Grantor shall
    defend Lender s rights in the Collateral against the claims and demands
    of all other persons.
    
    Collateral Schedules and Locations. As often as Lender shall require,
    and insofar as the Collateral consists of accounts and general
    intangibles, Grantor shall deliver to Lender schedules of such
    Collateral, including such Information as Lender may require, including
    without limitation names and addresses of account debtors and agings of
    accounts and general intangibles. Insofar as the Collateral consists of
    inventory and equipment, Grantor shall deliver to Lender, as often as
    Lender shall require, such lists, descriptions, and designations of such
    Collateral as Lender may require to identify the nature, extent, and
    location of such Collateral. Such information shall be submitted for
    Grantor and each of its subsidiaries or related companies.
    
    Maintenance and Inspection of Collateral. Grantor shall maintain all
    tangible Collateral in good condition and repair. Grantor will not
    commit or permit damage to or destruction of the Collateral or any part
    of the Collateral. Lender and its designated representatives and agents
    shall have the right at all reasonable times to examine, inspect, and
    audit the Collateral wherever located. Grantor shall immediately notify
    Lender of all cases involving the return, rejection, repossession, loss
    or damage of or to any Collateral; of any request for credit or
    adjustment or of any other dispute arising with respect to the
    Collateral; and generally of all happenings and events affecting the
    Collateral or the value or the amount of the Collateral.
    
    Taxes, Assessments and Liens. Grantor will pay when due all taxes,
    assessments and liens upon the Collateral, its use or operation, upon
    this Agreement, upon any promissory note or notes evidencing the
    Indebtedness, or upon any of the other Related Documents. Grantor may
    withhold any such payment or may elect to contest any lien if Grantor is
    in good faith conducting an appropriate proceeding to contest the
    obligation to pay and so long as Lender s interest in the Collateral is
    not Jeopardized in Lenders sole opinion. If the Collateral is subjected
    to a lien which is not discharged within fifteen (15) days, Grantor
    shall deposit with Lender cash, a sufficient corporate surety bond or
    other security satisfactory to Lender in an amount adequate to provide
    for the discharge of the lien plus any interest, costs, attorneys fees
    or other charges that could accrue as a result of foreclosure or sale of
    the Collateral. In any contest Grantor shall defend itself and Lender
    and shall satisfy any final adverse Judgment before enforcement against
    the Collateral. Grantor shall name Lender as an additional obligee under
    any surety bond furnished in the contest proceedings.
    
    Compliance With Governmental Requirements. Grantor shall comply promptly
    with all laws, ordinances, rules and regulations of all governmental
    authorities, now or hereafter  in effect, applicable to the ownership,
    production, disposition, or use of the Collateral. Grantor may contest
    In good faith any such law, ordinance or regulation and withhold
    compliance during any proceeding, including appropriate appeals, so long
    as Lenders Interest in the Collateral, in Lenders opinion, is not
    jeopardized.
    
    Hazardous Substances. Grantor represents and warrants that the
    Collateral never has been, and never will be so long as this Agreement
    remains a lien on the Collateral, used for the generation, manufacture,
    storage, transportation, treatment, disposal, release or threatened
    release of any hazardous waste or substance, as those terms are defined
    in the Comprehensive Environmental Response, Compensation, and Liability
    Act of 1980, as amended, 42 U.S.C. Section 9601, et seq. ("CERCLA"), the
    Superfund Amendments and Reauthorization Act of 1986, Pub. L. No 90-499
    ( SARA ), the Hazardous Materials Transportation Act, 49 U.S.C. Section
    1801, et seq., the Resource Conservation and Recovery Act, 42 U.S.C.
    Section 6901, et seq., or other applicable state or Federal laws, rules,
    or regulations adopted pursuant to any of the foregoing. The terms
    "hazardous waste" and "hazardous substance" shall also include, without
    limitation, petroleum and petroleum by-products or any fraction thereof
    and asbestos. The representations and warranties contained herein are
    based on Grantors due diligence in investigating the Collateral for
    hazardous wastes and substances. Grantor hereby (a) releases and waives
    any future claims against Lender for indemnity or contribution in the
    event Grantor becomes liable for cleanup or other costs under any such
    laws, and (b) agrees to indemnify and hold harmless Lender against any
    and alt claims and losses resulting from a breach of this provision of
    this Agreement. This obligation to indemnify shall survive the payment
    of the Indebtedness and the satisfaction of this Agreement.
    
    Maintenance of Casualty Insurance. Grantor shall procure and maintain
    all risks insurance, including without limitation fire, theft and
    liability coverage together with such other Insurance as Lender may
    require with respect to the Collateral, In form, amounts, coverages and
    basis reasonably acceptable to Lender and issued by a company or
    companies reasonably acceptable to Lender. Grantor, upon request of
    
    Lender,02-24-1997 COMMERCIAL SECURITY AGREEMENT Page 3
    Loan No (Continued)
    
    will deliver to Lender from time to time the policies or certificates of
    insurance in form satisfactory to Lender, Including stipulations that
    coverages will not be cancelled or diminished without at least ten (10)
    days' prior written notice to Lender and not including any disclaimer of
    the insurer's liability for failure to give such a notice. Each
    insurance policy also shall include an endorsement providing that
    coverage in favor of Lender will not be impaired in any way by any act,
    omission or default of Grantor or any other person. In connection with
    all policies covering assets in which Lender holds or is offered a
    security interest, Grantor will provide Lender with such loss payable or
    other endorsements as Lender may require. If Grantor at any time fails
    to obtain or maintain any insurance as required under this Agreement,
    Lender may (but shall not be obligated to) obtain such insurance as
    Lender deems appropriate, including if it so chooses "single interest
    insurance," which will cover only Lender's interest in the Collateral.
    
    Application of Insurance Proceeds. Grantor shall promptly notify Lender
    of any loss or damage to the Collateral. Lender may make proof of loss
    if Grantor fails to do so within fifteen (15) days of the casualty. All
    proceeds of any insurance on the Collateral, including accrued proceeds
    thereon, shall be held by Lender as part of the Collateral. It Lender
    consents to repair or replacement of the damaged or destroyed
    Collateral, Lender shall, upon satisfactory proof of expenditure, pay or
    reimburse Grantor from the proceeds for the reasonable cost of repair or
    restoration. If Lender does not consent to repair or replacement of the
    Collateral, Lender shall retain a sufficient amount of the proceeds to
    pay all of the Indebtedness, and shall pay the balance to Grantor. Any
    proceeds which have not been disbursed within six (6) months after their
    receipt and which Grantor has not committed to the repair or restoration
    of the Collateral shall be used to prepay the Indebtedness.
    
    Insurance Reserves. Lender may require Grantor to maintain with Lender
    reserves for payment of insurance premiums, which reserves shall be
    created by monthly payments from Grantor of a sum estimated by Lender to
    be sufficient to produce, at least fifteen (15) days before the premium
    due date, amounts at least equal to the insurance premiums to be paid.
    If fifteen (15) days before payment is due, the reserve funds are
    insufficient, Grantor shall upon demand pay any deficiency to Lender.
    The reserve funds shall be held by Lender as a general deposit and shall
    constitute a noninterest-bearing account which Lender may satisfy by
    payment of the insurance premiums required to be paid by Grantor as they
    become due. Lender does not hold the reserve funds in trust for Grantor,
    and Lender is not the agent of Grantor for payment of the insurance
    premiums required to be paid by Grantor. The responsibility for the
    payment of premiums shall remain Grantor's sole responsibility.
    
    Insurance Reports. Grantor, upon request of Lender, shall furnish to
    Lender reports on each existing policy of insurance showing such
    information as Lender may reasonably request including the following:
    (a) the name of the insurer; (b) the risks Insured; (c) the amount of
    the policy, (d) the property insured, (e) the then current value on the
    basis of which insurance has been obtained and the manner of determining
    that value; and (f) the expiration date of the policy. In addition,
    Grantor shall upon request by Lender (however not more often than
    annually) have an independent appraiser satisfactory to Lender
    determine, as applicable, the cash value or replacement cost of the
    Collateral.
    
    GRANTOR'S RIGHT TO POSSESSION AND TO COLLECT ACCOUNTS. Until
  default and
    except as otherwise provided below with respect to accounts, Grantor may
    have possession of the tangible personal property and beneficial use of
    all the Collateral and may use it in any lawful manner not inconsistent
    with this Agreement or the Related Documents, provided that Grantor's
    right to possession and beneficial use shall not apply to any Collateral
    where possession of the Collateral by Lender is required by law to
    perfect Lender's security interest in such Collateral. Until otherwise
    notified by Lender, Grantor may collect any of the Collateral consisting
    of accounts. At any time and even though no Event of Default exists,
    Lender may exercise its rights to collect the accounts and to notify
    account debtors to make payments directly to Lender for application to
    the Indebtedness. If Lender at any time has possession of any
    Collateral. whether before or after an Event of Default, Lender shall be
    deemed to have exercised reasonable care in the custody and preservation
    of the Collateral if Lender takes such action for that purpose as
    Grantor shall request or as Lender, in Lender's sole discretion, shall
    deem appropriate under the circumstances, but failure to honor any
    request by Grantor shall not of Itself be deemed to be a failure to
    exercise reasonable care. Lender shall not be required to take any steps
    necessary to preserve any rights in the Collateral against prior
    parties, nor to protect, preserve or maintain any security interest
    given to secure the Indebtedness.
    
    EXPENDITURES BY LENDER. if not discharged or paid when due, Lender
  may
    (but shall not be obligated to) discharge or pay any amounts required to
    be discharged or paid by Grantor under this Agreement, including without
    limitation all taxes, liens, security interests, encumbrances, and other
    claims, at any time levied or placed on the Collateral. Lender also may
    (but shall not be obligated to) pay all costs for insuring, maintaining
    and preserving the Collateral. All such expenditures incurred or paid by
    Lender for such purposes will then bear interest at the rate charged
    under the Note from the date incurred or paid by Lender to the date of
    repayment by Grantor. All such expenses shall become a part of the
    Indebtedness and at Lender's option, will (a) be payable on demand, (b)
    be added to the balance of the Note and be apportioned among and be
    payable with any installment payments to become due during either (i)
    the term of any applicable insurance policy or (ii) the remaining term
    of the Note, or (c) be treated as a balloon payment which will be due
    and payable at the Note's maturity. This Agreement also will secure
    payment of these amounts. Such right shall be in addition to all other
    rights and remedies to which Lender may be entitled upon the occurrence
    of an Event of Default.
    
    EVENTS OF DEFAULT. Each of the following shall constitute an Event of
    Default under this Agreement:
    
    Default on Indebtedness. Failure of Borrower to make any payment when
    due on the Indebtedness.
    
    Other Defaults. Failure of Grantor or Borrower to comply with or to
    perform any other term, obligation, covenant or condition contained in
    this Agreement or in any of the Related Documents or failure of Borrower
    to comply with or to perform any term, obligation, covenant or condition
    contained in any other agreement between Lender and Borrower.
    
    Default In Favor of Third Parties. Should Borrower or any Grantor
    default under any loan, extension of credit, security agreement,
    purchase or sales agreement, or any other agreement, in favor of any
    other creditor or person that may materially affect any of Borrower's
    property or Borrower's or any Grantor's ability to repay the Loans or
    perform their respective obligations under this Agreement or any of the
    Related Documents.
    
    False Statements. Any warranty, representation or statement made or
    furnished to Lender by or on behalf of Grantor or Borrower under this
    Agreement, the Note or the Related Documents is false or misleading in
    any material respect, either now or at the time made or furnished.
    
    Defective Collateralization. This Agreement or any of the Related
    Documents ceases to be in full force and effect (including failure of
    any collateral documents to create a valid and perfected security
    interest or lien) at any time and for any reason.
    
    Insolvency. The dissolution or termination of Grantor or Borrower's
    existence as a going business, the insolvency of Grantor or Borrower,
    the appointment of a receiver for any part of Grantor or Borrower's
    properly, any assignment for the benefit of creditors, any type of
    creditor workout or the commencement of any proceeding under any
    bankruptcy or insolvency laws by or against Grantor or Borrower.
    
    Creditor or Forfeiture Proceedings. Commencement of foreclosure or
    forfeiture proceedings, whether by judicial proceeding self-help
    repossession or any other method, by any creditor of Grantor or Borrower
    or by any governmental agency against the Collateral or any other
    collateral securing the Indebtedness. This includes a garnishment of any
    of Grantor or Borrower's deposit accounts with Lender.
    
    Events Affecting Guarantor. Any of the preceding events occurs with
    respect to any Guarantor of any of the Indebtedness or such Guarantor
    dies or becomes incompetent.
    
    Adverse Change. A material adverse change occurs in Borrower's financial
    condition, or Lender believes the prospect of payment or performance of
    the Indebtedness is impaired.
    
    RIGHTS AND REMEDIES ON DEFAULT. If an Event of Default occurs under
  this
    Agreement, at any time thereafter, Lender shall have all the rights of a
    secured party under the Colorado Uniform Commercial Code. In addition
    and without limitation, Lender may exercise any one or more of the
    following rights and remedies:
    
    Accelerate Indebtedness. Lender may declare the entire Indebtedness,
    including any prepayment penalty which Borrower would be required to
    pay, Immediately due and payable, without notice.
    
    Assemble Collateral. Lender may require Grantor to deliver to Lender all
    or any portion of the Collateral and any and all certificates of title
    and other documents relating to the Collateral. Lender may require
    Grantor to assemble the Collateral and make it available to Lender at a
    place to be designated by Lender. Lender also shall have full power to
    enter upon the property of Grantor to take possession of and remove the
    Collateral. If the Collateral contains other goods not covered by this
    Agreement at the time of repossession, Grantor agrees Lender may take
    such other goods, provided that Lender makes reasonable efforts to
    return them to Grantor after repossession.
    
    Sell the Collateral. Lender shall have full power to sell, lease,
    transfer, or otherwise deal with the Collateral or proceeds thereof in
    its own name or that of Grantor. Lender may sell the Collateral at
    public auction or private sale. Unless the Collateral threatens to
    decline speedily in value or is of a type customarily sold on a
    recognized market, Lender will give Grantor reasonable notice of the
    time after which any private sale or any other Intended disposition of
    the Collateral is to be made. The requirements of reasonable notice
    shall be met If such notice is given at least ten (10) days before the
    time of the sale or disposition. All expenses relating to the
    disposition of the Collateral, including without limitation the expenses
    of retaking, holding, insuring, preparing for sale and selling the
    Collateral, shall become a part of the Indebtedness secured by this
    Agreement and shall be payable on demand, with Interest at the Note rate
    from date of expenditure until repaid.
    
    Appoint Receiver. To the extent permitted by applicable law, Lender
    shall have the following rights and remedies regarding the appointment
    of a receiver: (a) Lender may haw a receiver appointed as a maker of
    right, (b) the receiver may be an employee of Lender and may serve
    without bond, and (c) all fees of the receiver and his or her attorney
    shall become part of the Indebtedness secured by this Agreement and
    shall be payable on demand, with interest at the Note rate from date of
    expenditure until repaid. The receiver may be appointed by a court of
    competent jurisdiction upon ex parte application and without notice,
    notice being expressly waived.
    
    
    
    
    
    02-24-1997   COMMERCIAL SECURITY AGREEMENT
    Loan No (Continued)
    
    Page 4
    
    Collect Revenues Apply Accounts. Lender either itself or through a
    receiver may collect the payments rents income and revenues from the
    Collateral. Lender may at any time in its discretion transfer any
    Collateral into its own name or that of its nominee and receive the
    payments rents income and revenues therefrom and hold the same as
    security for the Indebtedness or apply it to payment of the Indebtedness
    in such order of preference as Lender may determine. Insofar as the
    Collateral consists of accounts general intangibles insurance policies
    instruments chattel paper choses in action or similar property Lender
    may demand collect receipt for settle compromise adjust sue for
    foreclose or realize on the Collateral as Lender may determine whether
    or not Indebtedness or Collateral is then due. For these purposes Lender
    may on behalf of and in the name of Grantor receive open and dispose of
    mail addressed to Grantor- change any address to which mail and payments
    are to be sent; and endorse notes checks drafts money orders documents
    of title instruments and items pertaining to payment shipment or storage
    of any Collateral. To facilitate collection Lender may notify account
    debtors and obligors on any Collateral to make payments directly to
    Lender.
    
    Obtain Deficiency. If Lender chooses to sell any or all of the
    Collateral Lender may obtain a Judgment against Borrower for any
    deficiency remaining on the Indebtedness due to Lender after application
    of all amounts received from the exercise of the rights provided in this
    Agreement Borrower shall be liable for a deficiency even if the
    transaction described In this subsection is a sale of accounts or
    chattel paper.
    
    Other Rights and Remedies. Lender shall have all the rights and remedies
    of a secured creditor under the provisions of the Uniform Commercial
    Code as may be amended from time to time. tn addition Lender shall have
    and may exercise any or all other rights and remedies it may have
    available at law in equity or otherwise.
    
    Cumulative Remedies. All of Lenders rights and remedies whether
    evidenced by this Agreement or the Related Documents or by any other
    writing shall be cumulative and may be exercised singularly or
    concurrently. Election by Lender to pursue any remedy shall not exclude
    pursuit of any other remedy and an election to make expenditures or to
    take action to perform an obligation of Grantor or Borrower under this
    Agreement after Grantor or Borrower s failure to perform shall not
    affect Lender s right to declare a default and to exercise its remedies.
    
    MISCELLANEOUS PROVISIONS. The following miscellaneous provisions are
  a
    part of this Agreement:
    
    Amendments. This Agreement together with any Related Documents
    constitutes the entire understanding and agreement of the parties as to
    the matters set forth in this Agreement. No alteration of or amendment
    to this Agreement shall be effective unless given in writing and signed
    by the party or parties sought to be charged or bound by the alteration
    or amendment.
    
    Applicable Law. This Agreement has been delivered to Lender and accepted
    by Lender in the State of Colorado. If there is a lawsuit Grantor and
    Borrower agree upon Lender s request to submit to the Jurisdiction of
    the courts of the State of Colorado. Lender Grantor and Borrower hereby
    waive the right to any Jury trial in any action proceeding or
    counterclaim brought by either Lender Grantor or Borrower against the
    other This Agreement shall be governed by and construed in accordance
    with the laws of the State of Colorado.
    
    Attorneys Fees; Expenses. Grantor and Borrower agree to pay upon demand
    all of Lenders costs and expenses including attorneys fees and Lenders
    legal expenses incurred in connection with the enforcement of this
    Agreement. Lender may pay someone else to help enforce this Agreement
    and Grantor and Borrower shall pay the costs and expenses of such
    enforcement. Costs and expenses include Lender s attorneys fees and
    legal expenses whether or not there is a lawsuit including attorneys
    fees and legal expenses for bankruptcy proceedings (and including
    efforts to modify or vacate any automatic stay or injunction) appeals
    and any anticipated post-Judgment collection services. Grantor and
    Borrower also shall pay all court costs and such additional fees as may
    be directed by the court.
    
    Caption Headings. Caption headings in this Agreement are for convenience
    purposes only and are not to be used to interpret or define the
    provisions of this Agreement.
    
    Multiple Parties; Corporate Authority. All obligations of Grantor and
    Borrower under This Agreement shall be Joint and several and all
    references lo Borrower shall mean each and every Borrower and all
    references to Grantor shall mean each and every Grantor. This means that
    each of the Borrowers signing below is responsible for all obligations
    in this Agreement.
    
    Notices. All notices required to be given under this Agreement shall be
    given in writing may be sent by telefacsimilie and shall be effective
    when actually delivered or when deposited with a nationally recognized
    overnight courier or deposited in the United States mail flrst class
    postage prepaid addressed to the party to whom the notice is to be given
    at The address shown above. Any party may change its address for notices
    under this Agreement by giving formal written notice to the other
    parties specifying that the purpose of the notice is to change the
    partys address. To the extent permitted by applicable law if there is
    more than one Grantor or Borrower notice to any Grantor or Borrower will
    constitute notice to all Grantor and Borrowers. For notice purposes
    Grantor and Borrower will keep Lender informed at all times of Grantor
    and Borrower s current address(es).
    
    Power of Attorney. Grantor hereby appoints Lender as its true and lawful
    attorney-in-fact Irrevocably with full power of substitution to do the
    following: (a) to demand collect receive receipt for sue and recover all
    sums of money or other property which may now or hereafter become due
    owing or payable from the Collateral; (b) to execute sign and endorse
    any and all claims instruments receipts checks drafts or warrants issued
    in payment for the Collateral; (c) to settle or compromise any and all
    claims arising under the Collateral and in the place and stead of
    Grantor to execute and deliver its release and settlement for the claim;
    and (d) to file any claim or claims or to take any action or institute
    or take part in any proceedings either in its own name or in the name of
    Grantor or otherwise which In the discretion of Lender may seem to be
    necessary or advisable. This power is given as security for the
    Indebtedness and the authority hereby conferred is and shall be
    irrevocable and shall remain in full force and effect until renounced by
    Lender.
    
    Severability. If a court of competent Jurisdiction finds any provision
    of this Agreement to be invalid or unenforceable as to any person or
    circumstance such finding shall not render that provision Invalid or
    unenforceable as to any other persons or circumstances. If feasible any
    such offending provision shall be deemed to be modified to be within the
    limits of enforceability or validity; however if the offending provision
    cannot be so modified it shall be stricken and all other provisions of
    this Agreement in all other respects shall remain valid and enforceable.
    
    Successor Interests. subject to the limitations set forth above on
    transfer of the Collateral this Agreement shall be binding upon and
    inure to the benefit of the parties their successors and assigns.
    
    Waiver. Lender shall not be deemed to have waived any rights under this
    Agreement unless such waiver is given in writing and signed by Lender.
    No delay or omission on the part of Lender in exercising any right shall
    operate as a waiver of such right or any other right. A waiver by Lender
    of a provision of this Agreement shall not prejudice or constitute a
    waiver of Lender s right otherwise to demand strict compliance with that
    provision or any other provision of this Agreement. No prior waiver by
    Lender nor any course of dealing between Lender and Grantor shall
    constitute a waiver of any of Lenders rights or of any of Grantors
    obligations as to any future transactions. Whenever the consent of
    Lender is required under this Agreement the granting of such consent by
    Lender in any instance shall not constitute continuing consent to
    subsequent instances where such consent is required and in all cases
    such consent may be granted or withheld in the sole discretion of
    Lender.
    
    EXHIBIT B . An exhibit titled exhibit B is attached to this Agreement
    and by this reference is made a part of this Agreement Just as if all
    the provisions terms and conditions of the Exhibit had been fully set
    forth in this Agreement.
        <PAGE>
02-24 1997     COMMERCIAL SECURITY AGREEMENT Page 5
    Loan No (Continued)
    
    
    BORROWER AND GRANTOR ACKNOWLEDGE HAVING READ ALL THE
  PROVISIONS OF THIS
    COMMERCIAL SECURITY AGREEMENT, AND BORROWER AND GRANTOR
  AGREE TO ITS
    TERMS. THIS AGREEMENT IS DATED FEBRUARY 24,1997.
    
    BORROWER:
    
    ELECTRONIC FAB TECHNOLOGY CORP., A COLORADO CORPORATION
    
    By: Jack Calderon                     
        JACK CALDERON, PRESIDENT & CEO      
    
    By: Stuart W. Fuhlendorf          
        STUART W. FUHLENDORF, CFO & TREASURER
    
    GRANTOR:
    ELECTRONIC FAB TECHNOLOGY CORP., A COLORADO CORPORATION
    
    By: Jack Calderon                 
        JACK CALDERON, PRESIDENT & CEO
    By: Stuart W. Fuhlendorf          
        STUART W. FUHLENDORF, CFO & TREASURER
    
    CURRENT ELECTRONICS (WASHINGTON), INC., A WASHINGTON
  CORPORATION
    
    By: Jack Calderon                 
        JACK CALDERON, PRESIDENT & CEO
    By: Stuart W. Fuhlendorf          
        STUART W. FUHLENDORF, VICE PRESIDENT
    
    CURRENT ELECTRONICS AN OREGON CORPORATION f/k/a CURRENT
  MERGER CORP.
    
    By: Jack Calderon                 
        JACK CALDERON, PRESIDENT & CEO
    By: Stuart W. Fuhlendorf          
        STUART W. FUHLENDORF, VICE PRESIDENT
        <PAGE>
EXHIBIT "B"
    
    Principal $      Loan Date 02-24-1997  Maturity 05-24-1997  Loan
    No  Call  Collateral  Account 2755863331  Officer 309  Initials 
    References in the shaded area are for Lender's use only and do not limit
    the applicability of this document to any particular loan or item.
    
    Borrower:    ELECTRONIC FAB TECHNOLOGY CORP., A
            COLORADO CORPORATION
            7251 WEST 4TH STREET
            GREELEY, CO 80634
    
    Lender: BANK ONE, COLORADO, N.A.
            DOWNTOWN GREELEY BANKING CENTER
            2696 SOUTH COLORADO BLVD.
            DENVER, CO 80222    
    
            
    
    This EXHIBIT "B" Is attached to and by this reference Is made a part of
    each Security Agreement, dated February 24,1997, and executed In
    connection with a loan or other financial accommodations between BANK
    ONE, COLORADO, N.A. and ELECTRONIC FAB TECHNOLOGY CORP., A
  COLORADO
    CORPORATION.
    
    ADDRESS OF LOCATION                   LEGAL PROPERTY DESCRIPTION
    
    1)      101 N. ELLIOTT  LOT 7, BLOCK 1, FLIGHTWAY INDUSTRIAL PARK 
        NEWBERG, OREGON  97132                           TO THE CITY OF
  NEWBERG, YAMHILL COUNTY,
                                                           OREGON
    
    2)      120 S. ELLIOTT  LOT 6, BLOCK 2, FLIGHTWAY INDUSTRIAL PARK
        NEWBERG, OR  97132  TO THE CITY OF NEWBERG, YAMHILL COUNTY,
                              OREGON
    
    3)      125 S. ELLIOTT  LOT 9, BLOCK 1, FLIGHTWAY INDUSTRIAL PARK
     NEWBERG, OR 97132      TO THE CITY OF NEWBERG, YAMHILL COUNTY,
                              OREGON
    
    4)      115 S. ELLIOTT  LOT 8, BLOCK 1, FLIGHTWAY INDUSTRIAL PARK
     NEWBERG, OR 97132      TO THE CITY OF NEWBERG, YAMHILL COUNTY,
                              OREGON
    
    5) 7966 ANDREWS STREET NE
     MOSES LAKE, WA 98837 
    
    
    THIS EXHIBIT "B" IS EXECUTED ON FEBRUARY 24, 1997.
    
    X Jack Calderon                                   X Stuart W. Fuhlendorf 
                                                                
    
    LENDER:
    
    BANK ONE, COLORADO, N.A.
    By: Sam Leeper          
        Authorized Officer
    
    LASEP. PR0, Reg. U.S. Pat. S T.M. Olt., Ver. 3.22b (c) 1997 CFI
    ProServices, Iric. All rights reserved. {CO-a80 F3.22 ELE2_KB2.LN C3.0VL
    
    
    
    
    
    BUSINESS LOAN AGREEMENT
    
    
    Principal $  Loan Date 02-24-1997  Maturity 06-05-1998   Loan No   Call  
    Collateral   Account 2755863331  Officer
    309  Initials 
    References in the shaded area are For Lender's use only and do not limit
    the applicability of this document to any particular loan or Item.
    
    Borrower:               ELECTRONIC FAB TECHNOLOGY CORP., A 
            COLORADO CORPORATION
            7251 WEST 4TH STREET
            GREELEY, CO     80634                             
    Lender:                 BANK ONE, COLORADO, N.A. 
            DOWNTOWN GREELEY BANKING CENTER 
            2696 SOUTH COLORADO BLVD.
            DENVER, CO 80222
    
    THIS BUSINESS LOAN AGREEMENT between ELECTRONIC FAB
  TECHNOLOGY CORP., A
    COLORADO CORPORATION ( Borrower ) and BANK ONE, COLORADO, N.A.
  ("Lender)
    Is made and executed on the following terms and conditions. Borrower has
    received prior commercial loans from Lender or has applied to Lender tor
    a commercial loan or loans and other financial accommodations, Including
    those which may be described on any exhibit or schedule attached to this
    Agreement. All such loans and financial accommodations, together with
    all future loans and financial accommodations from Lender lo Borrower,
    are referred to In this Agreement Individually as the Loan and
    collectively as the Loans. Borrower understands and agrees that: (a) In
    granting, renewing, or extending any Loan, Lender Is relying upon
    Borrower s representations, warranties, and agreements, as sel forth In
    this Agreement; (b) the granting, renewing, or extending of any Loan by
    Lender at all times shall be subject to Lender s sole judgment and
    discretion; and (c) all such Loans shall be and shall remain subject to
    the following terms and conditions of this Agreement.
    
    TERM. This Agreement shall be effective as of February 24,1997, and
    shall continue thereafter until all Indebtedness of Borrower to Lender
    has been performed in full and the parties terminate this Agreement in
    writing.
    
    DEFINITIONS. The following words shall have the following meanings when
    used in this Agreement. Terms not otherwise defined in this Agreement
    shall have the meanings attributed to such terms In the Uniform
    Commercial Code. All references to dollar amounts shall mean amounts in
    lawful money of the United States of America.
    
    Agreement. The word "Agreement" means this Business Loan Agreement, as
    this Business Loan Agreement may be amended or modified from time to
    time, together with all exhibits and schedules attached to this Business
    Loan Agreement from time to time.
    
    Borrower. The word "Borrower" means ELECTRONIC FAB TECHNOLOGY
  CORP., A
    COLORADO CORPORATION. The word "Borrower also includes, as
  applicable,
    all subsidiaries and affiliates of Borrower as provided below in the
    paragraph titled Subsidiaries and Affiliates."
    
    CERCLA. The word "CERCLA means the Comprehensive Environmental
  Response,
    Compensation, and Liability Act of 1980, as amended.
    
    Cash Flow. The words "Cash Flow" mean net income after taxes, and
    exclusive of extraordinary gains and income, plus depreciation and
    amortization.
    
    Collateral. The word "Collateral means and includes without limitation
    all property and assets granted as collateral security for a Loan,
    whether real or personal property, whether granted directly or
    indirectly, whether granted now or in the future, and whether granted in
    the form of a security interest, mortgage, deed of trust, assignment,
    pledge, chattel mortgage, chattel trust, factors lien, equipment trust,
    conditional sale, trust receipt, lien, charge, lien or title retention
    contract, lease or consignment intended as a security device, or any
    other security or lien interest whatsoever, whether created by law,
    contract, or otherwise.
    
    Debt. The word debt means all of Borrowers liabilities excluding
    Subordinated Debt.
    
    ERISA. The word "ERISA"" means the Employee Retirement Income Security
    Act of 1974, as amended.
    
    Event of Default. The words "Event of Default mean and include without
    limitation any of the Events of Default set forth below in the section
    titled "EVENTS OF DEFAULT.
    
    Grantor. The word Grantor means and includes without limitation each and
    all of the persons or entities granting a Security Interest in any
    Collateral for the Indebtedness, Including without limitation all
    Borrowers granting such a Security Interest.
    
    Guarantor. The word Guarantor means and Includes without limitation each
    and all of the guarantors, sureties, and accommodation parties in
    connection with any Indebtedness.
    
    Indebtedness. The word Indebtedness" means and includes without
    limitation all Loans, together with all other obligations, debts and
    liabilities of Borrower to Lender, or any one or more of them, as well
    as all claims by Lender against Borrower, or any one or more of them;
    whether now or hereafter existing, voluntary or involuntary, due or not
    due, absolute or contingent, liquidated or unliquidated; whether
    Borrower may be liable individually or Jointly with others; whether
    Borrower may be obligated as a guarantor, surety, or otherwise; whether
    recovery upon such Indebtedness may be or hereafter may become barred by
    any statute of limitations; and whether such Indebtedness may be or
    hereafter may become otherwise unenforceable.
    
    Lender. The word "Lender" means BANK ONE, COLORADO, N A., its
  successors
    and assigns.
    
    Liquid Assets. The words "Liquid Assets" mean Borrower s cash on hand
    plus Borrower s readily marketable securities.
    
    Loan. The word "Loan" or "Loans means and includes without limitation
    any and all commercial loans and financial accommodations from Lender to
    Borrower, whether now or hereafter existing, and however evidenced,
    including without limitation those loans and financial accommodations
    described herein or described on any exhibit or schedule attached to
    this Agreement from time to time.
    
    Note. The word Note means and includes without limitation Borrower s
    promissory note or notes, if any, evidencing Borrower s Loan obligations
    In flavor of Lender, as well as any substitute, replacement or
    refinancing note or notes therefor.
    
    Permitted Liens. The words "Permitted Liens mean: (a) liens and security
    interests securing Indebtedness owed by Borrower to Lender; (b) liens
    for taxes, assessments, or similar charges either not yet due or being
    contested in good faith; (c) liens of materialmen, mechanics,
    warehousemen, or carriers, or other like liens arising in the ordinary
    course of business and securing obligations which are not yet
    delinquent; (d) purchase money liens or purchase money security
    Interests upon or in any property acquired or held by Borrower in the
    ordinary course of business to secure Indebtedness outstanding on the
    date of this Agreement or permitted to be incurred under the paragraph
    of this Agreement titled Indebtedness and Liens; (e) liens and security
    interests which, as of the date of this Agreement, have been disclosed
    to and approved by the Lender in writing; and (f) those liens and
    security interests which in the aggregate constitute an immaterial and
    insignificant monetary amount with respect to the net value of Borrower
    s assets.
    
    Related Documents. The words "Related Documents mean and include without
    limitation all promissory notes, credit agreements, loan agreements,
    environmental agreements, guaranties, security agreements, mortgages,
    deeds of trust, and all other instruments, agreements and documents,
    whether now or hereafter existing, executed in connection with the
    Indebtedness.
    
    Security Agreement. The words Security Agreement mean and include
    without limitation any agreements, promises, covenants, arrangements
    understandings or other agreements, whether created by law, contract, or
    otherwise, evidencing, governing, representing, or creating a Security
    Interest.
    
    Security Interest. The words "Security Interest mean and include without
    limitation any type of collateral security, whether in the form of a
    lien, charge, mortgage, deed of trust, assignment, pledge, chattel
    mortgage, chattel trust, factor s lien, equipment trust, conditional
    sale, trust receipt, lien or title retention contract, lease or
    consignment intended as a security device, or any other security or lien
    interest whatsoever, whether created by law, contract, or otherwise.
    
    SARA. The word Sara means the Superfund Amendments and Reauthorization
    Act of 1986 as now or hereafter amended.
    
    Subordinated Debt. The words Subordinated Debt mean indebtedness and
    liabilities of Borrower which have been subordinated by written
    agreement to Indebtedness owed by Borrower to Lender in form and
    substance acceptable to Lender.
    
    Tangible Net Worth. The words "Tangible Net Worth mean Borrowers total
    assets excluding all intangible assets (I.e., goodwill, trademarks,
    patents, copyrights, organizational expenses, and similar Intangible
    Items, but including leaseholds and leasehold improvements) less total
    Debt.
    
    Working Capital. The words Working Capital mean Borrower s current
    assets, excluding prepaid expenses, less Borrower s current liabilities.
    
    CONDITIONS PRECEDENT TO EACH ADVANCE. Lenders obligation to make
  the
    Initial Loan Advance and each subsequent Loan Advance under this
    Agreement shall be subject to the fulfillment to Lenders satisfaction of
    all of the conditions set forth In this Agreement and In the Related
    Documents.
    
    Loan Documents. Borrower shall provide to Lender in form satisfactory to
    Lender the following documents for the Loan: (a) the Note, (b)
    Security Agreements granting to Lender security interests in the
    Collateral, (c) Financing Statements perfecting Lenders Security
    Interests, (d)
    
    
    
    
    
    
    02-24-1997              BUSINESS LOAN AGREEMENT
    Loan No (Continued)
    
    
    Page 2
    
    evidence of insurance as required below; and (e) any other documents
    required under this Agreement or by Lender or its counsel Including
    without limitation any guaranties described below.
    
    Borrowers Authorization. Borrower shall have provided in form and
    substance satisfactory to Lender properly certified resolutions duly
    authorizing the execution and delivery of this Agreement the Note and
    the Related Documents and such other authorizations and other documents
    and instruments as Lender or its counsel in their sole discretion may
    require.
    
    Payment of Fees and Expenses. Borrower shall have paid to Lender all
    fees charges and other expenses which are then due and payable as
    specified in this Agreement or any Related Document.
    
    Representations and Warranties. The representations and warranties set
    forth in this Agreement in the Related Documents and in any document or
    certificate delivered to Lender under this Agreement are true and
    correct.
    
    No Event of Default. There shall not exist at the time of any advance a
    condition which would constitute an Event of Default under this
    Agreement.
    
    REPRESENTATIONS AND WARRANTIES. Borrower represents and warrants
  to
    Lender as of the date of this Agreement as of the date of each
    disbursement of Loan proceeds as of the date of any renewal extension or
    modification of any Loan and at all times any Indebtedness exists:
    
    Organization. Borrower is a corporation which is duly organized validly
    existing and in good standing under the laws of the State of Colorado
    and is validly existing and in good standing in all states in which
    Borrower is doing business. Borrower has the full power and authority to
    own its properties and to transact the businesses in which It is
    presently engaged or presently proposes to engage. Borrower also is duly
    qualified as a foreign corporation and is in good standing in all states
    in which the failure to so qualify would have a material adverse effect
    on its businesses or financial condition.
    
    Authorization. The execution, delivery and performance of this Agreement
    and all Related Documents by Borrower to the extent to be executed
    delivered or performed by Borrower have been duly authorized by all
    necessary action by Borrower; do not require the consent or approval of
    any other person regulatory authority or governmental body; and do not
    conflict with result in a violation of or constitute a default under (a)
    any provision of its articles of incorporation or organization or bylaws
    or any agreement or other Instrument binding upon Borrower or (b) any
    law governmental regulation court decree or order applicable to
    Borrower.
    
    Financial Information. Each financial statement of Borrower supplied to
    Lender truly and completely disclosed Borrowers financial condition as
    of the date of the statement and there has been no material adverse
    change in Borrowers financial condition subsequent to the date of the
    most recent financial statement supplied to Lender. Borrower has no
    material contingent obligations except as disclosed In such financial
    statements.
    
    Legal effect. THIS Agreement constitutes and any instrument or agreement
    required hereunder to be given by Borrower when delivered will
    constitute legal valid and binding obligations of Borrower enforceable
    against Borrower in accordance with their respective terms.
    
    Properties. Except as contemplated by this Agreement or as previously
    disclosed in Borrower s financial statements or in writing to Lender and
    as accepted by Lender and except for property tax liens for taxes not
    presently due and payable Borrower owns and has good title to all of
    Borrowers properties free and clear of all Security Interests and has
    nol executed any security documents or financing statements relating to
    such properties. All of Borrower s properties are titled In Borrower s
    legal name and Borrower has not used or filed a financing statement
    under any other name for at least the last five (5) years.
    
    Hazardous Substances. The terms hazardous waste hazardous substance
    disposal release and threatened release as used in this Agreement shall
    have the same meanings as set forth in the "CERCLA SARA the Hazardous
    Materials Transportation Act 49 U.S.C. Section 1801 et seq. the Resource
    Conservation and Recovery Act 42 U.S.C. Section 6901 et seq. or other
    applicable slate or Federal laws rules or regulations adopted pursuant
    to any of the foregoing. Except as disclosed to and acknowledged by
    Lender In writing Borrower represents and warrants that: (a) During the
    period of Borrowers ownership of the properties there has been no use
    generation manufacture storage treatment disposal release or threatened
    release of any hazardous waste or substance by any person on under about
    or from any of the properties. (b) Borrower has no knowledge of or
    reason to believe that there has been (i) any use generation manufacture
    storage treatment disposal release or threatened release of any
    hazardous waste or substance on under about or from the properties by
    any prior owners or occupants of any of the properties or (li) any
    actual or threatened litigation or claims of any kind by any person
    relating to such matters. (c) Neither Borrower nor any tenant contractor
    agent or other authorized user of any of the properties shall use
    generate manufacture store treat dispose of or release any hazardous
    waste or substance on under about or from any of the properties; and any
    such activity shall be conducted in compliance with all applicable
    federal state and local laws regulations and ordinances including
    without limitation those laws regulations and ordinances described
    above. Borrower authorizes Lender and its agents to enter upon the
    properties to make such inspections and tests as Lender may deem
    appropriate to determine compliance of the properties with this section
    of the Agreement. Any inspections or tests made by Lender shall be at
    Borrower s expense and for Lender s purposes only and shall not be
    construed to create any responsibility or liability on the part of
    Lender to Borrower or to any other person. The representations and
    warranties contained herein are based on Borrowers due diligence in
    ~~investigating the properties for hazardous waste and hazardous
    substances. Borrower hereby (a) releases and waives any future claims
    against Lender for indemnity or contribution in the event Borrower
    becomes liable for cleanup or other costs under any such laws and (b)
    agrees to indemnify and hold harmless Lender against any and all claims
    losses liabilities damages penalties and expenses which Lender may
    directly or indirectly sustain or suffer resulting from a breach of this
    section of the Agreement or as a consequence of any use generation
    manufacture storage disposal release or threatened release occurring
    prior to Borrower s ownership or interest in the properties whether or
    not the same was or should have been known to Borrower. The provisions
    of this section of the Agreement including The obligation lo indemnify
    shall survive the payment of the Indebtedness and the termination or
    expiration of this Agreement and shall not be affected by Lenders
    acquisition of any interest in any of the properties whether by
    foreclosure or otherwise.
    
    Litigation and Claims. No litigation claim investigation administrative
    proceeding or similar action (including those for unpaid taxes) against
    Borrower is pending or threatened and no other event has occurred which
    may materially adversely affect Borrowers financial condition or
    properties other than litigation claims or other events if any that have
    been disclosed to and acknowledged by Lender in writing.
    
    Taxes. To the best of Borrower s knowledge all tax returns and reports
    of Borrower that are or were required to be filed have been filed and
    all taxes assessments and other governmental charges have been paid in
    full except those presently being or to be contested by Borrower In good
    faith in the ordinary course of business and for which adequate reserves
    have been provided.
    
    Lien Priority. Unless otherwise previously disclosed to Lender in
    writing Borrower has not entered into or granted any Security Agreements
    or permitted the filing or attachment of any Security Interests on or
    affecting any of the Collateral directly or indirectly securing
    repayment of Borrowers Loan and Note that would be prior or that may in
    any way be superior to Lenders Security Interests and rights in and to
    such Collateral.
    
    Binding Effect. This Agreement the Note all Security Agreements directly
    or indirectly securing repayment of Borrower s Loan and Note and all of
    the Related Documents are binding upon Borrower as well as upon
    Borrowers successors representatives and assigns and are legally
    enforceable in accordance with their respective terms.
    
    Commercial Purposes. Borrower intends to use the Loan proceeds solely
    for business or commercial related purposes.
    
    Employee Benefit Plans. Each employee benefit plan as to which Borrower
    may have any liability complies in all material respects with all
    applicable requirements of law and regulations and (i) no Reportable
    Event nor Prohibited Transaction (as defined In ERISA) has occurred with
    respect to any such plan (ii) Borrower has not withdrawn from any such
    plan or initiated steps to do so (iii) no steps have been taken to
    terminate any such plan and (iv) there are no unfunded liabilities other
    than those previously disclosed to Lender In writing.
    
    Location of Borrower s Offices and Records. Borrower s place of business
    or Borrower s Chief executive office if Borrower has more than one place
    of business Is located at 7251 WEST 4TH STREET GREELEY CO 80634.
  Unless
    Borrower has designated otherwise in writing this location Is also the
    office or offices where Borrower keeps its records concerning The
    Collateral.
    
    Information. All Information heretofore or contemporaneously herewith
    furnished by Borrower to Lender for the purposes of or in connection
    with this Agreement or any transaction contemplated hereby is and all
    Information hereafter furnished by or on behalf of Borrower to Lender
    will be true and accurate in every material respect on the date as of
    which such information is dated or certified; and none of such
    Information is or will be incomplete by omitting to state any material
    fact necessary to make such Information not misleading.
    
    Survival of Representations and Warranties. Borrower understands and
    agrees that Lender without independent Investigation is relying upon the
    above representations and warranties in extending Loan Advances lo
    Borrower. Borrower further agrees that the foregoing representations and
    warranties shall be continuing in nature and shall remain in full force
    and effect until such time as Borrowers Indebtedness shall be paid in
    full or until this Agreement shall be terminated In the manner provided
    above whichever is the last to occur.
    
    AFFIRMATIVE COVENANTS. Borrower covenants and agrees with Lender that
    while this Agreement is in effect Borrower will:
    
    Litigation. Promptly Inform Lender in writing of (a) all material
    adverse changes In Borrowers financial condition and (b) all existing
    and all threatened litigation claims Investigations administrative
    proceedings or similar actions affecting Borrower or any Guarantor which
    could materially affect the financial condition of Borrower or the
    financial condition of any Guarantor.
    
    Financial Records. Maintain its books and records In accordance with
    generally accepted accounting principles applied on a consistent basis,
    
    
    
    
    
    
    
    02 24-1997              BUSINESS LOAN AGREEMENT
    Loan No (Continued)
    
    
    
    Page 3
    
    and permit Lender to examine and audit Borrower s books and records at
    all reasonable times.
    
    Additional Information. Furnish such additional information and
    statements, lists of assets and liabilities, agings of receivables and
    payables, inventory schedules, budgets, forecasts, tax returns, and
    other reports with respect to Borrowers financial condition and business
    operations as Lender may request from time to time. S
    
    Financial Covenants and Ratios. Comply with the following covenants and
    ratios: Except as provided above, all computations made to determine
    compliance with the requirements contained in this paragraph shall be
    made in accordance with generally accepted accounting principles,
    applied on a consistent basis, and certified by Borrower as being true
    and correct.
    
    Insurance. Maintain fire and other risk insurance, public liability
    Insurance, and such other insurance as Lender may require with respect
    to Borrowers properties and operations, in form, amounts, coverages and
    with insurance companies reasonably acceptable to Lender. Borrower, upon
    request of Lender, will deliver to Lender from time to time the policies
    or certificates of insurance in form satisfactory to Lender, including
    stipulations that coverages will not be canceled or diminished without
    at least ten (10) days prior written notice to Lender. Each insurance
    policy also shall include an endorsement providing that coverage in
    favor of Lender will not be impaired in any way by any act, omission or
    default of Borrower or any other person. In connection with all policies
    covering assets in which Lender holds or is offered a security interest
    for the Loans, Borrower will provide Lender with such loss payable or
    other endorsements as Lender may require.
    
    Insurance Reports. Furnish to Lender, upon request of Lender, reports on
    each existing insurance policy showing such information as Lender may
    reasonably request, including without limitation the following: (a) the
    name of the insurer; (b) the risks insured; (c) the amount of the
    policy; (d) the properties insured; (e) the then current property values
    on the basis of which insurance has been obtained, and the manner of
    determining those values; and (f) the expiration date of the policy. In
    addition, upon request of Lender (however not more often than annually)
    Borrower will have an independent appraiser satisfactory to Lender
    determine, as applicable, the actual cash value or replacement cost of
    any Collateral. The cost of such appraisal shall be paid by Borrower.
    
    Guaranties. Prior to disbursement of any Loan proceeds, furnish executed
    guaranties of the Loans in favor of Lender, on Lender s forms, and in
    the amounts and by the guarantors named below:
    
    Guarantors Amounts
    
    CURRENT ELECTRONICS (WASHINGTON), INC., A WASHINGTON
    CORPORATION Unlimited
    CURRENT ELECTRONICS, INC., AN OREGON CORPORATION
     f/k/a CURRENT MERGER CORP.  Unlimited
    
    Other Agreements. Comply with all terms and conditions of all other
    agreements, whether now or hereafter existing, between Borrower and any
    other party and notify Lender immediately in writing of any default in
    connection with any other such agreements.
    
    Loan Proceeds. Use all Loan proceeds solely for Borrowers business
    operations, unless specifically consented to the contrary by Lender in
    writing.
    
    Taxes, Charges and Liens. Pay and discharge when due all of its
    indebtedness and obligations, including without limitations all
    assessments taxes, governmental charges, levies and liens, of every kind
    and nature, imposed upon Borrower or its properties, income, or profits,
    prior to the date on which penalties would attach, and all lawful claims
    that, if unpaid, might become a lien or charge upon any of Borrowers
    properties, income, or profits. Provided however, Borrower will not be
    required to pay and discharge any such assessment, tax, charge, levy,
    lien or claim so long ss (a) the legality of the same shall be contested
    in good faith by appropriate proceedings, and (b) Borrower shall have
    established on its books adequate reserves with respect to such
    contested assessment, tax, charge, levy, lien, or claim in accordance
    with generally accepted accounting practices. Borrower, upon demand of
    Lender, will furnish to Lender evidence of payment of the assessments,
    taxes, charges, levies, liens and claims and will authorize the
    appropriate governmental official to deliver to Lender at any time a
    written statement of any assessments, taxes, charges, levies, liens and
    claims against Borrower s properties, income, or profits.
    
    Performance. Perform and comply with all terms, conditions, and
    provisions set forth in this Agreement and in the Related Documents in a
    timely manner, and promptly notify Lender if Borrower learns of the
    occurrence of any event which constitutes an Event of Default under this
    Agreement or under any of the Related Documents.
    
    Operations. Maintain executive and management personnel with
    substantially the same qualifications and experience as the present
    executive and management personnel; provide written notice to Lender of
    any change in executive and management personnel; conduct its business
    affairs In a reasonable and prudent manner and in compliance with all
    applicable federal, state and municipal laws, ordinances, rules and
    regulations respecting its properties, charters, businesses and
    operations, including without limitation, compliance with the Americans
    With Disabilities Act and with all minimum funding standards and other
    requirements of ERISA and other Iaws applicable to Borrowers employee
    benefit plans.
    
    Inspection. Permit employees or agents of Lender at any reasonable time
    to inspect any and all Collateral for the Loan or Loans and Borrowers
    other properties and to examine or audit Borrowers books, accounts, and
    records and to make copies and memoranda of Borrowers books, accounts,
    and records. If Borrower now or at any time hereafter maintains any
    records (including without limitation computer generated records and
    computer software programs for the generation of such records) in the
    possession of a third party, Borrower, upon request of Lender, shall
    notify such party to permit Lender free access to such records at all
    reasonable times and to provide Lender with copies of any records it may
    request, all at Borrower s expense.
    
    Compliance Certificate. Unless waived in writing by Lender, provide
    Lender at least annually and at the time of each disbursement of Loan
    proceeds with a certificate executed by Borrowers chief financial
    officer, or other officer or person acceptable to Lender, certifying
    that the representations and warranties set forth in this Agreement are
    true and correct ss of the date of the certificate and further
    certifying that, as of the date of the certificate, no Event of Default
    exists under this Agreement.
    
    Environmental Compliance and Reports. Borrower shall comply in all
    respects with all environmental protection federal, state and local
    laws, statutes, regulations and ordinances; not cause or permit to
    exist, as a result of an intentional or unintentional action or omission
    on its part or on the part of any third party. on property owned and/or
    occupied by Borrower, any environmental activity where damage may result
    to the environment, unless such environmental activity is pursuant to
    and in compliance with the conditions of a permit issued by the
    appropriate federal, state or local governmental authorities; shall
    furnish to Lender promptly and in any event within thirty (30) days
    after receipt thereof a copy of any notice, summons, lien, citation,
    directive, letter or other communication from any governmental agency or
    instrumentality concerning any intentional or unintentional action or
    omission on Borrowers part in connection with any environmental activity
    whether or not there is damage to the environment and/or other natural
    resources.
    
    Additional Assurances. Make, execute and deliver to Lender such
    promissory notes, mortgages, deeds of trust, security agreements,
    financing statements, instruments, documents and other agreements as
    Lender or its attorneys may reasonably request to evidence and secure
    the Loans and to perfect all Security Interests.
    
    NEGATIVE COVENANTS. Borrower covenants and agrees with Lender that
  while
    this Agreement is in effect, Borrower shall not, without the prior
    written consent of Lender:
    
    Indebtedness and Liens. (a) Except for trade debt incurred in the normal
    course of business and indebtedness to Lender contemplated by this
    Agreement, create, incur or assume indebtedness for borrowed money,
    including capital leases, (b) except as allowed as a Permitted Lien,
    sell transfer, mortgage, assign, pledge, lease, grant a security
    Interest in, or encumber any of Borrowers assets, or (c) sell with
    recourse any of Borrowers accounts, except to Lender.
    
    Continuity of Operations. (a) Engage in any business activities
    substantially different than those in which Borrower is presently
    engaged, (b) cease operations, liquidate, merge, transfer, acquire w
    consolidate with any other entity, change ownership, change Its name,
    dissolve or transfer or sell Collateral out of the ordinary course of
    business, (c) pay any dividends on Borrower s stock (other than
    dividends payable in its stock) provided, however that notwithstanding
    the foregoing, but only so long as no Event of Default has occurred and
    is continuing or would result from the payment of dividends, if Borrower
    is a Subchapter S Corporation (ss defined in the Internal Revenue Code
    of 1986, ss amended), Borrower may pay cash dividends on its stock to
    its shareholders from time to Time in amounts necessary to enable the
    shareholders to pay income taxes and make estimated income tax payments
    to satisfy their liabilities under federal and state law which arise
    solely from their status ss Shareholders of a Subchapter S Corporstion
    because of their ownership of shares of stock of Borrower, or (d)
    purchase or Retire any of Borrower s outstanding shares or alter or
    amend Borrowers capital structure.
    
    Loans, Acquisitions and Guaranties. (a) Loan, Invest in or advance money
    or assets, (b) purchase, create or acquire any interest in any other
    enterprise or entity, or (c) incur any obligation as surety or guarantor
    other than in the ordinary course of business.
    
    CESSATION OF ADVANCES. If Lender has made any commitment to make
  any
    Loan to Borrower, whether under this Agreement or under any other
    agreement, Lender shall have no obligation to make Loan Advances or to
    disburse Loan proceeds if: (a) Borrower or any Guarantor is in default
    under the terms of this Agreement or any of the Related Documents or any
    other agreement that Borrower or any Guarantor has with Lender; (b)
    Borrower or any Guarantor becomes Insolvent, hies a petition in
    bankruptcy or similar proceedings, or is adjudged a bankrupt; (c) there
    occurs a material adverse change in Borrowers financial  condition, In
    the financial condition of any Guarantor, or In the value of any
    Collateral securing any Loan; or (d) any Guarantor seeks, claims or
    otherwise attempts to limit, modify, or revoke such Guarantor s guaranty
    of the Loan or any other loan with Lender.
    
    
    
    
    
    
    02-24-1997              BUSINESS LOAN AGREEMENT
    Loan No (Continued)
    
    Page 4
    
    EXHIBIT A . An exhibit, titled "EXHIBIT A"," Is attached to this
    Agreement and by this reference is made a part of this Agreement just as
    if all the provisions, terms and conditions of the Exhibit had been
    fully set forth in this Agreement.
    
    RIGHT OF SETOFF. Borrower grants to Lender a contractual possessory
    security Interest In, and hereby assigns, conveys, delivers, pledges,
    and transfers to Lender all Borrowers right, title and interest in and
    to, Borrowers accounts with Lender (whether checking, savings, or some
    other account), including without limitation all accounts held jointly
    with someone else and all accounts Borrower may open in the future,
    excluding however ail IRA and Keogh accounts, and all trust accounts for
    which the grant of a security interest would be prohibited by law.
    Borrower authorizes Lender, to the extent permitted by applicable law,
    to charge or setoff all sums owing on the Indebtedness against any and
    all such accounts.
    
    EVENTS OF DEFAULT. Each of the following shall constitute an Event of
    Default under this Agreement:
    
    Default on Indebtedness. Failure of Borrower to make any payment when
    due on the Loans.
    
    Other Defaults. Failure of Borrower or any Grantor to comply with or to
    perform when due any other term, obligation, covenant or condition
    contained in this Agreement or in any of the Related Documents, or
    failure of Borrower to comply with or to perform any other term,
    obligation, covenant or condition contained in any other agreement
    between Lender and Borrower.
    
    Default In Favor of Third Parties. Should Borrower or any Grantor
    default under any loan, extension of credit, security agreement,
    purchase or sales agreement, or any other agreement, in favor of any
    other creditor or person that may materially affect any of Borrowers
    property or Borrowers or any Grantors ability to repay the Loans or
    perform their respective obligations under this Agreement or any of the
    Related Documents.
    
    False# Statements. Any warranty, representation or statement made or
    furnished to Lender by or on behalf of Borrower or any Grantor under
    this Agreement or the Related Documents is false or misleading in any
    material respect at the time made or furnished, or becomes false or
    misleading at any time thereafter.
    
    Detective Collateralization. This Agreement or any of the Related
    Documents ceases to be in full force and effect (including failure of
    any Security Agreement to create a valid and perfected Security
    Interest) at any time and for any reason.
    
    Insolvency. The dissolution or termination of Borrower s existence as a
    going business, the insolvency of Borrower, the appointment of a
    receiver for any part of Borrowers property, any assignment for the
    benefit of creditors, any type of creditor workout, or the commencement
    of any proceeding under any bankruptcy or insolvency laws by or against
    Borrower.
    
    Creditor or Forfeiture Proceedings. Commencement of foreclosure or
    forfeiture proceedings, whether by judicial proceeding, self-help
    repossession or any other method, by any creditor of Borrower, any
    creditor of any Grantor against any collateral securing the
    Indebtedness, or by any governmental agency. This includes a
    garnishment, attachment, or levy on or of any of Borrower s deposit
    accounts with Lender.
    
    Events Affecting Guarantor. Any of the preceding events occurs with
    respect to any Guarantor of any of the Indebtedness or any Guarantor
    dies or becomes incompetent, or revokes or disputes the validity of, or
    liability under, any Guaranty of the Indebtedness.
    
    Change In Ownership. Any change in ownership of twenty-five percent
    (25%) or more of the common stock of Borrower.
    
    Adverse Change. A material adverse change occurs In Borrowers financial
    condition, or Lender believes the prospect of payment or performance of
    the Indebtedness is impaired.
    
    EFFECT OF AN EVENT OF DEFAULT. If any Event of Default shall occur,
    except where otherwise provided in this Agreement or the Related
    Documents, all commitments and obligations of Lender under this
    Agreement or the Related Documents or any other agreement immediately
    will terminate (including any obligation to make Loan Advances or
    disbursements), and, at Lenders option, all indebtedness immediately
    will become due and payable, all without notice of any kind to Borrower,
    except that in the case of an Event of Default of the type described in
    the "Insolvency subsection above, such acceleration shall be automatic
    and not optional. In addition, Lender shall have all the rights and
    remedies provided in the Related Documents or available at law, in
    equity, or otherwise. Except as may be prohibited by applicable law, all
    of Lender s rights and remedies shalt be cumulative and may be exercised
    singularly or concurrently. Election by Lender to pursue any remedy
    shall not exclude pursuit of any other remedy, and an election to make
    expenditures or to take action to perform an obligation of Borrower or
    of any Grantor shall not affect Lender s right to declare a default and
    to exercise its rights and remedies.
    
    MISCELLANEOUS PROVISIONS. The following miscellaneous provisions are
  a
    part of this Agreement:
    
    Amendments. This Agreement, together with any Related Documents,
    constitutes the entire understanding and agreement of the parties as to
    the matters set forth in this Agreement. No alteration of or amendment
    to this Agreement shall be effective unless given in writing and signed
    by the party or parties sought to be charged or bound by the alteration
    or amendment.
    
    Applicable Law. This Agreement has been delivered to Lender and accepted
    by Lender In the State of Colorado. If there Is a lawsuit, Borrower
    agrees upon Lender s request to submit to the jurisdiction of the courts
    of Weld County, the State of Colorado. Lender and Borrower hereby waive
    the right to any jury trial In any action, proceeding, or counterclaim
    brought by either Lender or Borrower against the other. This Agreement
    shall be governed by and construed In accordance with The laws of the
    State of Colorado.
    
    Caption Headings. Caption headings in this Agreement are for convenience
    purposes only and are not to be used to interpret or define the
    provisions of this Agreement.
    
    Multiple Parties; Corporate Authority. All obligations of Borrower under
    this Agreement shall be joint and several, and all references to
    Borrower shall mean each and every Borrower. This means that each of the
    Borrowers signing below Is responsible for all obligations In this
    Agreement.
    
    Consent lo Loan Participation. Borrower agrees and consents to Lenders
    sale or transfer, whether now or later, of one or more participation
    interests in the Loans to one or more purchasers, whether related or
    unrelated to Lender. Lender may provide, without any limitation
    whatsoever, to any one or more purchasers, or potential purchasers, any
    information or knowledge Lender may have about Borrower or about any
    other matter relating lo The Loan, and Borrower hereby waives any rights
    to privacy it may have with respect to such matters. Borrower
    additionally waives any and all notices of sale of participation
    interests, as well as all notices of any repurchase of such
    participation Interests. Borrower also agrees that the purchasers of any
    such participation interests will be considered as the absolute owners
    of such interests In the Loans and will have all the rights granted
    under the participation agreement or agreements governing the sale of
    such participation interests. Borrower further waives all rights of
    offset or counterclaim that it may have now or later against Lender or
    against any purchaser of such a participation interest and
    unconditionally agrees that either Lender or such purchaser may enforce
    Borrowers obligation under the Loans irrespective of the failure or
    insolvency of any holder of any Interest in the Loans. Borrower further
    agrees that the purchaser of any such participation interests may
    enforce its interests Irrespective of any personal claims or defenses
    that Borrower may have against Lender.
    
    Costs and Expenses. Borrower agrees to pay upon demand all of Lenders
    expenses, Including without limitation attorneys fees, incurred in
    connection with the preparation, execution, enforcement, modification
    and collection of this Agreement or in connection with the Loans made
    pursuant to this Agreement. Lender may pay someone else to help collect
    the Loans and to enforce this Agreement, and Borrower will pay that
    amount. This includes, subject to any limits under applicable law,
    Lender s attorneys fees and Lender s legal expenses, whether or not
    there is a lawsuit, including attorneys fees for bankruptcy proceedings
    (including efforts to modify or vacate any automatic stay or
    injunction), appeals, and any anticipated postjudgment collection
    services. Borrower also will pay any court costs, in addition to all
    other sums provided by law.
    
    Notices. All notices required to be given under this Agreement shall be
    given in writing, may be sent by telefacsimilie, and shall be effective
    when actually delivered or when deposited with a nationally recognized
    overnight courier or deposited in the United States mail, first class,
    postage prepaid, addressed to the party to whom the notice is to be
    given at the address shown above. Any party may change its address for
    notices under this Agreement by giving formal written notice to the
    other parties, specifying that the purpose of the notice is to change
    the party s address. To the extent permitted by applicable law, if there
    is more than one Borrower, notice to any Borrower will constitute notice
    to all Borrowers. For notice purposes, Borrower will keep Lender
    informed at all times of Borrower s current address(es).
    
    Severability. If a court of competent jurisdiction finds any provision
    of this Agreement to be invalid or unenforceable as to any person or
    circumstance, such finding shall not render that provision invalid or
    unenforceable as to any other persons or circumstances. If feasible, any
    such offending provision shall be deemed to be modified to be within the
    limits of enforceability or validity; however, If The offending
    provision cannot be so modified, it shall be stricken and all other
    provisions of this Agreement in all other respects shall remain valid
    and enforceable.
    
    Subsidiaries and Affiliates of Borrower. To the extent the context of
    any provisions of this Agreement makes it appropriate, including without
    limitation any representation, warranty or covenant, the word
    ""Borrower" as used herein shall include all subsidiaries and affiliates
    of Borrower. Notwithstanding the foregoing however, under no
    circumstances shall this Agreement be construed to require Lender to
    make any Loan or other financial accommodation to any subsidiary or
    affiliate of Borrower.
    
    Successors and Assigns. All covenants and agreements contained by or on
    behalf of Borrower shall bind its successors and assigns and shall,
    inure to the benefit of Lender, Its successors and assigns. Borrower
    shall not, however, have the right to assign its rights under this
    Agreement or any Interest therein, without the prior written consent of
    Lender.
    
    Survival. All warranties, representations, and covenants made by
    Borrower in this Agreement or in any certificate or other Instrument
    delivered by Borrower to Lender under this Agreement shall be considered
    to have been relied upon by Lender and will survive the making of the
    loan and delivery to Lender of the Related Documents, regardless of any
    investigation made by Lender or on Lender s behalf.       
    
    
    02-24-1997              BUSINESS LOAN AGREEMENT
    Loan No 
    Page 5
    
    (continued)
    
     
    Time is of the Essence. Time Is of The essence In The performance of
    this Agreement.
    
    Waiver. Lender shall nol be deemed lo have waived any rights under This
    Agreement unless such waiver Is given in writing and signed by Lender.
    No delay or omission on The part of Lender In exercising any right shall
    operate as a waiver of such right or any other right. A waiver by Lender
    of a provision of this Agreement shall not prejudice or constitute a
    waiver of Lender s right otherwise to demand strict compliance with that
    provision or any other provision of this Agreement. No prior waiver by
    Lender nor any course of dealing between Lender and Borrower or between
    Lender and any Grantor shall constitute a waiver of any of Lenders
    rights or of any obligations of Borrower or of any Grantor as lo any
    future transactions. Whenever the consent of Lender Is required under
    This Agreement The granting of such consent by Lender In any Instance
    shall not constitute continuing consent in subsequent Instances where
    such consent is required and In all cases such consent may be granted or
    withheld In The sole discretion of Lender.
    
    BORROWER ACKNOWLEDGES HAVING READ ALL THE PROVISIONS OF
  THIS BUSINESS
    LOAN AGREEMENT AND BORROWER AGREES TO ITS TERMS. THIS
  AGREEMENT IS DATED
    AS OF FEBRUARY 24 1997.
    
    BORROWER(S):
    
    ELECTRONIC FAB TECHNOLOGY CORP., A COLORADO CORPORATION
    
    By:    Jack Calderon                  
          JACK CALDERON, PRESIDENT AND CEO
    
    By:    Stuart W. Fuhlendorf            
          STUART W. FUHLENDORF, CFO & TREASIRER
    
    CURRENT ELECTRONICS (WASHINGTON) INC., A WASHINGTON
  CORPORATION
    
    By:    Jack Calderon                  
     JACK CALDERON, PRESIDENT & CEO
    
    By:    Stuart W. Fuhlendorf           
     STUART W. FUHLENDORF, VICE PRESIDENT 
    
    CURRENT ELECTRONICS, INC., AN OREGON CORPORATION f/k/a/
  CURRENT MERGER
    CORP.
    
    By:    Jack Calderon                  
          JACK CALDERON, PRESIDENT & CEO
    
    By:    Stuart W. Fuhlendorf           
     STUART W. FUHLENDORF, VICE PRESIDENT
    
    LENDER:
    
    BANK ONE, COLORADO, N.A.
    
    By:   Sam Leeper                    
        Authorized Officer
    
    LASERPRO,Reg.U.S.Pal.&T.M.Oll.,Ver.3.22bp)1997CFIProServlcer,lnc.
    Allrlghlarererved.lCO-C40F3.22ELE1_KB2,LNC3.0VLl