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                                                                    EXHIBIT 10.4









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                           REVOLVING CREDIT AGREEMENT

                                      DATED

                                OCTOBER 13, 1998

                                     BETWEEN

                                 PAWNMART, INC.

                                       AND

                                  COMERICA BANK


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                                 LOAN AGREEMENT


         THIS LOAN AGREEMENT made as of the 13th day of October, 1998, by and
between PAWNMART, INC. and COMERICA BANK.

                                   WITNESSETH:

         WHEREAS, the Borrower has requested Bank to make certain loans and
extensions of credit to Borrower; and

         WHEREAS, the Bank is willing to do so subject to the terms and
conditions set forth in this Agreement;

         NOW, THEREFORE, the Borrower and the Bank agree:

                                   SECTION I.
                                   DEFINITIONS

         1.1      Defined Terms. As used in this Agreement, the following terms 
shall have the following respective meanings:

                  "Accounts," "Chattel Paper," "Documents," "Equipment,"
"Fixtures," "General Intangibles," "Goods," "Instruments" and "Inventory" shall
have the meanings assigned to them in the UCC.

                  "Accounts Receivable" shall mean and include all Accounts,
Chattel Paper and General Intangibles (including, but not limited to tax
refunds, trade names, trade styles and goodwill, trade marks, copyrights and
patents, and applications therefor, trade and proprietary secrets, formulae,
designs, blueprints and plans, customer lists, literary rights, licenses and
permits, receivables, insurance proceeds, beneficial interests in trusts and
minute books and other books and records) now owned or hereafter acquired by
Borrower.

                  "Affiliate" shall mean, when used with respect to any person,
any other person which, directly or indirectly, controls or is controlled by or
is under common control with such person. For purposes of this definition,
"control" (including the correlative meanings of the terms "controlled by" and
"under common control with"), with respect to any person, shall mean possession,
directly or indirectly, of the power to direct or cause the direction of the
management and policies of such person, whether through the ownership of voting
securities or by contract or otherwise.

                  "Agreement" shall mean this Agreement as amended from time to
time in accordance with the terms hereof.

                  "Applicable Interest Rate" shall mean the Eurodollar-based
Rate or the Prime-based Rate, as selected by Borrower from time to time or
otherwise determined pursuant to the terms and conditions of this Agreement.

                  "Bank" shall mean Comerica Bank, a Michigan banking
corporation.

                  "Bankruptcy Code" shall mean Title 11 of the United States
Code, as amended, or any successor act or code.




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                  "Borrowing Base Amount" shall mean, as of any date, an amount
equal to the sum of:

                  (a)      seventy percent (70%) of the cost of Eligible
                           Principal Accounts; plus

                  (b)      seventy percent (70%) of the positive difference (if
                           any) between (i) the Eligible Other Accounts and (ii)
                           the Reserve Amount as of the date of calculation;
                           plus

                  (c)      seventy percent (70%) of Eligible Specified
                           Inventories; plus

                  (d)      forty percent (40%) of Eligible Other Inventories.

                  "Borrower" shall mean PawnMart, Inc., a Delaware corporation.

                  "Business Day" shall mean any day on which Bank is open for
domestic business in Detroit and (when used in connection with any provision
regarding Eurodollar-based Loans) also a day on which commercial banks are open
for international business (including dealings in dollar deposits in the
interbank market) in Detroit and London.

                  "Collateral" shall mean all property of the Borrower now or
hereafter in the possession of the Bank or any Affiliate of the Bank (or as to
which the Bank or any Affiliate of the Bank now or hereafter controls possession
by documents or otherwise), all amounts in all deposit or other accounts
(including without limit an account evidenced by a certificate of deposit) of
the Borrower now or hereafter with the Bank or any Affiliate of the Bank and all
of Borrower's Accounts, Chattel Paper, Documents, Equipment, Fixtures, General
Intangibles, Goods, Instruments and Inventory, wherever located and whether now
owned or hereafter acquired, together with all replacements of any of the
foregoing, substitutions therefor, accessions thereto, and all proceeds and
products of all the foregoing, and all additional property (real or personal) of
the Borrower which is now or hereafter subject to a security interest, mortgage,
lien, claim or other encumbrance granted by the Borrower to, or in favor of, the
Bank.

                  "Commitment Amount" shall mean Ten Million Dollars 
($10,000,000).

                  "Default" shall mean a condition or event which, with the
giving of notice or the passage of time, or both, would become an Event of
Default.

                  "Documents" shall mean this Agreement, the Note, the Security
Agreement, the Financing Statements and all other documents, agreements and
instruments delivered to Bank pursuant to this Agreement or any of the
foregoing.

                  "Eligible Account" shall mean outstanding amounts owing
pursuant, and evidenced by, a Pawn Ticket arising in the ordinary course of
Borrower's business which meets each of the following requirements:

                  (a)      it is not owing to Borrower later than the Business
                           Day immediately following the ninetieth (90th) day
                           after the date of the Pawn Ticket evidencing such
                           account;

                  (b)      it is secured pursuant to the relevant Pawn Ticket by
                           goods in the possession of Borrower or by a vehicle
                           for which Borrower holds a title certificate duly
                           endorsed for transfer; 






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                  (c)      the Pawn Ticket evidencing such Eligible Account has
                           been prominently marked "Collaterally Assigned to
                           Comerica Bank";

                  (d)      it is a valid, legally enforceable obligation of the
                           debtor thereunder, and is not subject to any offset,
                           counterclaim or other defense on the part of such
                           debtor or to any claim on the part of such debtor
                           denying liability thereunder in whole or in part;

                  (e)      it is not subject to any sale of accounts, any rights
                           of offset, assignment, lien or security interest
                           whatsoever other than to Bank;

                  (f)      it is not owing by any debtor which is not a natural
                           person;

                  (g)      it is not owing by a debtor for which Borrower has
                           received a notice of: (i) the death or incompetence
                           of the debtor (ii) the appointment of a receiver for
                           any part of the property of the debtor, or (iii) an
                           assignment for the benefit of creditors, the filing
                           of a petition under or the commencement of any
                           proceeding under, any Bankruptcy Laws by or against
                           the debtor.

                  An Account Receivable which is at any time an Eligible
Account, but which subsequently fails to meet any of the foregoing requirements,
shall forthwith cease to be an Eligible Account.

                  "Eligible Other Account" shall mean, with respect to any
Eligible Account, as of any date, the amounts accrued and owing to Borrower
under the related Pawn Ticket for fees and interest.

                  "Eligible Principal Account" shall mean, with respect to any
Eligible Account, the portion thereof which represents the cash loan or advance
made by Borrower to its customer evidenced by the Pawn Ticket related thereto.

                  "Eligible Inventory" shall mean all of Borrower's Inventory
which is in good and merchantable condition, excluding:

                  (a)      Inventory which is not at a Location;

                  (b)      Inventory covered by or subject to a seller's right
                           to repurchase, or any consensual or nonconsensual
                           lien or security interest (including without
                           limitation purchase money security interests) other
                           than those granted in favor of Bank or hereafter
                           consented to by Bank; 

                  (c)      Inventory which is in repair, or on police hold; and
                           

                  (d)      Inventory which has been owned by Borrower in excess
                           of eighteen (18) months.

Inventory shall be valued at of cost (which cost shall be deemed to be (i) in
the case of items acquired pursuant to unpaid Pawn Tickets, the principal amount
originally evidenced by such Pawn Ticket and advanced to Borrower's customer
with respect to such inventory, and (ii) in the case of any item on lay away,
net of any deposits or lay away payments made on the item) and Inventory which
is at any time Eligible Inventory, but which subsequently fails to meet any of
the foregoing requirements, shall forthwith cease to be Eligible Inventory.



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                  "Eligible Other Inventory" shall mean Eligible Inventory which
is not Eligible Specified Inventory.

                  "Eligible Specified Inventory" shall mean firearms, gold,
jewelry, power tools and equipment and titled vehicles which are Eligible
Inventory.

                  "ERISA" shall mean the Employee Retirement Income Security Act
of 1974 as amended, or any successor act or code.

                  "Eurodollar-based Loan" shall mean a Loan at any time during
which such Loan bears interest at a Eurodollar-based Rate.

                  "Eurodollar-based Rate" shall mean a per annum interest rate
equal to the Eurodollar Rate, plus three and thirty five one hundredths percent
(3.35%) per annum.

                  "Eurodollar Rate" shall mean, for any Eurodollar-based Loan:

                  (a)      the per annum interest rate at which the Bank's
                           eurodollar lending office offers deposits in
                           eurodollars to prime banks in the eurodollar market
                           in an amount comparable to the relevant
                           Eurodollar-based Loan and for a period equal to the
                           Interest Period therefore at approximately 11:00 a.m.
                           Detroit time two (2) Business Days prior to the first
                           day of such Interest Period; divided by,

                  (b)      a percentage (expressed as a decimal) equal to one
                           hundred percent (100%) minus that percentage which is
                           in effect on the date for an Advance of a
                           Eurodollar-based Loan, as prescribed by the Board of
                           Governors of the Federal Reserve System (or any
                           successor) for determining the maximum reserve
                           requirements for a member bank of the Federal Reserve
                           System with deposits exceeding five billion dollars
                           in respect of "Euro-currency Liabilities" (or in
                           respect of any other category of liabilities which
                           includes deposits by reference to which the interest
                           rate on Eurodollar-based Loans is determined or any
                           category of extensions of credit or other assets
                           which includes loans by a non-United States
                           Eurodollar Lending Office of such a bank to United
                           States residents).

                  "Event of Default" shall mean any of those conditions or
events listed in Section 8.1 of this Agreement.

                  "Existing Loan" shall mean that certain loan to Borrower from
"The BRIT 1992 Trust" evidenced by two promissory notes of Borrower made as of
January 9, 1998 and February 24, 1998, respectively in the respective face
amount of $250,000 and $100,000.

                  "Financial Statements" shall mean all historical balance
sheets and earnings statements and other financial data which have been
furnished to the Bank for the purposes of, or in connection with, this Agreement
and the transactions contemplated hereby, including without limit balance
sheets, statements of income, retained earnings and cash flow, and all
footnotes.

                  "Financing Statements" shall mean UCC financing statements
describing the Bank as secured party and the Borrower as debtor covering the
Collateral and otherwise in such form, for filing in such jurisdictions and with
such filing offices, as the Bank shall reasonably deem necessary or advisable.


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                  "GAAP" shall mean, as of any applicable date of determination,
generally accepted accounting principles consistently applied in the country of
incorporation of the relevant Person.

                  "Indebtedness" shall mean all loans, advances, indebtedness,
obligations and liabilities of the Borrower to the Bank under the Notes, this
Agreement and the Documents, together with all other indebtedness, obligations
and liabilities whatsoever of the Borrower to the Bank, whether matured or
unmatured, liquidated or unliquidated, direct or indirect, absolute or
contingent, joint or several, due or to become due, now existing or hereafter
arising.

                  "Interest Period" shall mean an interest period for a
Eurodollar-based Loan of one (1), three (3), or six (6) months, provided
however, that:

                  (a)      any Interest Period which would otherwise end on a
                           day which is not a Business Day shall be extended to
                           the next succeeding Business Day unless the next
                           succeeding Business Day falls in another calendar
                           month, in which case, such Interest Period shall end
                           on the immediately preceding Business Day; and

                  (b)      no Interest Period may end after the Maturity Date.

                  "Legal Rate" shall mean at the particular time in question the
maximum rate of interest which, under applicable law, the Bank is then permitted
to charge on the Indebtedness. If the maximum rate of interest which, under
applicable law, the Bank is permitted to charge on the Indebtedness shall change
after the date hereof, the Legal Rate shall be automatically increased or
decreased, as the case may be, from time to time as of the effective time of
each change in the Legal Rate without notice to the Borrower. For purposes of
determining the Legal Rate under the Applicable Law of the State of Texas, the
applicable rate ceiling shall be (a) the indicated rate ceiling described in and
computed in accordance with the provisions of Section (a) (I) of Art. 1.04, or
(b) if the parties subsequently contract as allowed by applicable law, the
quarterly ceiling or the annualized ceiling computed pursuant to Section (d) of
Art. 1.04; provided, however, that at any time the indicated rate ceiling, the
quarterly ceiling of the annualized ceiling shall be less than 18% per annum or
more than 24% per annum, the provisions of Sections (b)(1) and (2) of said Art.
1.04 shall control for purposes of such determination, as applicable.

                  "Loan" shall mean, individually and/or collectively as the
context may require, the Advances evidenced by the Note.

                  "Location" shall mean each of the Borrower's locations for
transacting business and each additional Location for the transaction of
business hereafter acquired or opened by Borrower in accordance with Sections
6.4 and 7.10 hereof.

                  "Maturity Date" shall mean October 13, 2001.

                  "Net Worth" shall mean, as of the date of any determination
thereof, the sum of Borrower's shareholders' equity, determined in accordance
with GAAP plus the principal amount of any Subordinate Debt then outstanding.

                  "Note" shall mean the promissory note executed and delivered
by Borrower to Bank pursuant to Section 2.3 of this Agreement in the form of
Exhibit "A" to this Agreement.

                  "Pawn Ticket" shall mean, for each is Eligible Account, a duly
executed and completed pawn ticket.



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                  "PBGC" shall mean the Pension Benefit Guaranty Corporation or
any person succeeding to the present powers and functions of the Pension Benefit
Guaranty Corporation.

                  "Permitted Liens" shall mean:

                  (a)      Liens and encumbrances in favor of the Bank;

                  (b)      Liens for taxes, assessments or other governmental
                           charges incurred in the ordinary course of business
                           and for which no interest, late charge or penalty is
                           attaching or which is being contested in good faith
                           by appropriate proceedings and, if requested by the
                           Bank, bonded in an amount and manner satisfactory to
                           the Bank;

                  (c)      Liens, not delinquent, created by statute in
                           connection with worker's compensation, unemployment
                           insurance, social security and similar statutory
                           obligations;

                  (d)      Liens of mechanics, materialmen, carriers,
                           warehousemen or other like statutory or common law
                           liens securing obligations incurred in good faith in
                           the ordinary course of business that are not yet due
                           and payable; and

                  (e)      Encumbrances consisting of existing or future zoning
                           restrictions, existing recorded rights-of-way,
                           existing recorded easements, existing recorded
                           private restrictions or existing or future public
                           restrictions on the use of real property, none of
                           which materially impairs the use of such property in
                           the operation of the business for which it is used
                           and none of which is violated in any material respect
                           by any existing or proposed structure or land use;
                           and 

                  (f)      Purchase money security interests securing
                           indebtedness or lease obligations incurred in
                           connection with Borrower's purchases or leases of
                           fixed assets, to the extent that the aggregate amount
                           of such obligations at any time outstanding does not
                           excess One Hundred Thousand Dollars ($100,000).

                  "Person" or "person" shall mean any individual, corporation,
partnership, joint venture, association, trust, unincorporated association,
joint stock company, government, municipality, political subdivision or agency,
or other entity.

                  "Prime-based Loan" shall mean a Loan at any time during such
Loan bears interest at a Prime-based Rate.

                  "Prime-based Rate" shall mean the Prime Rate in effect from
time to time plus three-fourths percent (3/4%).

                  "Prime Rate" shall mean that annual rate of interest
designated by the Bank as its prime rate, which rate may not be the lowest rate
of interest charged by the Bank to any of its customers, and which rate is
changed by the Bank from time to time.

                  "Reserve Amount" shall mean, as of the date of any calculation
thereof, the amount determined by multiplying:

                  (a)      total Eligible Other Accounts as of determination by



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                  (b)      the percentage of the amount of Borrower's accounts
                           evidenced by Pawn Tickets which were forfeited to
                           Borrower in the quarter preceding the date of
                           calculation.

                  "Request for Loan" shall mean a request for loan delivered by
Borrower to Bank in the form of Exhibit "B" to this Agreement, pursuant to
Section 2.2 of this Agreement.

                  "Revolving Maximum" shall mean, as of any date, the lesser of:
(a) the Commitment Amount, or (b) the Borrowing Base Amount.

                  "Security Agreements" shall mean the Security Agreement by
Borrower pursuant to which the Borrower grants to the Bank a first priority
security interest in all Accounts, Chattel Paper, Documents, Equipment,
Fixtures, General Intangibles, Goods, Instruments and Inventory, Machinery and
Equipment of the Borrower, wherever located and whether now owned or hereafter
acquired, together with all replacements thereof, substitutions therefor,
accessions thereto and all proceeds and products of all the foregoing.

                  "Subordinate Debt" shall mean indebtedness of Borrower payment
of which, and any security for which, is made subordinate to Borrower's
indebtedness to Bank and liens and security interests granted to Bank pursuant
to a written subordination agreement in form and context satisfactory to Bank.

                  "Store Contribution" shall mean for any Location, total store
revenues generated at such Location less direct operating expenses for such
Location determined in a manner consistent with those used by Borrower in
preparation of its Securities and Exchange Commission filings and press releases
as of the date of this Agreement.

                  "UCC" shall mean the Uniform Commercial Code in effect with
respect to the jurisdictions of the various Locations.

         1.2      Accounting Terms. All accounting terms not specifically
defined in this Agreement shall be construed in accordance with GAAP.

         1.3      Singular and Plural. Where the context herein requires, the
singular number shall be deemed to include the plural, the masculine gender
shall include the feminine and neuter genders, and vice versa.

                                   SECTION 2.
                          COMMITMENT, INTEREST AND FEES

         2.1      Loans. Subject to the terms and conditions of this Agreement,
the Bank agrees to make Advances to the Borrower from the date hereof until the
Maturity Date, in aggregate principal amount at any time outstanding not to
exceed the Revolving Maximum.

         2.2      Requests for Loans. Borrower may request An Advance by
delivery to Bank of a Request for Loan executed by an authorized officer
Borrower and subject to the following:

                  i.       each such Request for Loan shall set forth the
                           information required on the Request for Loan form;





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                  ii.      each such Request for Loan shall be delivered to Bank
                           by 10:00 a.m. three (3) Business Days prior to the
                           proposed date of Advance, except if the Applicable
                           Interest Rate for such Advance is to be the
                           Prime-based Rate, such Request for Loan must be
                           delivered by 10:00 a.m. (Detroit time) on such
                           proposed date;

                  iii.     if the Request for Loan is a request for a
                           Eurodollar-based Loan, the principal amount of the
                           Advance requested shall be at least Five Hundred
                           Thousand Dollars ($500,000) or an integral multiple
                           thereof; and

                  iv.      each Request for Loan shall constitute a
                           certification by the Borrower as of the date thereof
                           that all of the conditions set forth in Article 4
                           hereof are satisfied as of the date of such request
                           and shall be satisfied as of the date such Advance is
                           requested.

         2.3 Note. The Revolving Loan shall be evidenced by a Note in the form
of Exhibit "A" hereto executed by Borrower.

         2.4 Payments of Principal. The principal of the Note shall be payable
(unless sooner accelerated pursuant to the terms of this Agreement) on the
Maturity Date, when the entire balance then outstanding and all accrued and
unpaid interest thereon, shall be due and payable.

         2.5 Interest. The principal balance of each Advance from time to time
outstanding under each Note shall bear interest at its Applicable Interest Rate.
Interest shall be payable on all Prime-based Advances, monthly, on the first
Business Day of each month. Interest shall be payable on each Eurodollar-based
Advance on the last day of its Interest Period and, if such Interest Period has
a duration of longer than three (3) months, also at each three month interval
from the first day of such interest period.

         2.6 Preparation and Closing Fees. Simultaneously with the execution of
this Agreement, the Borrower shall pay to the Bank:

                  (a)      the amount of the expenses (including without limit
                           reasonable attorneys' fees, whether of inside or
                           outside counsel, and disbursements) incurred by the
                           Bank in connection with the preparation and closing
                           of this Agreement and related instruments and/or
                           making of advances hereunder, including but not
                           limited to costs to conduct audits, monitoring and
                           appraisals; and 

                  (b)      a non-refundable closing fee in the amount of One
                           Hundred Thousand Dollars ($100,000).

         Bank acknowledges the payment by Borrower of Twenty Five Thousand
Dollars ($25,000) to Bank, which amount was paid to Bank prior to the date
hereof and which will be credited against Borrower's obligations under this
Section 2.6 upon closing.

         2.7 Commitment Fees., Borrower shall pay Bank monthly, on the first
Business Day of each month, a commitment fee in the amount equal to the one-half
percent (1/2%) per annum on the average daily amount by which the Commitment
Amount exceeded the principal amount of outstanding Advances during the
preceding month.






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         2.8 Basis of Computation. The amount of all interest and fees hereunder
shall be computed for the actual number of days elapsed on the basis of a year
consisting of three hundred sixty (360) days.

         2.9 Basis of Payments. All sums payable by the Borrower to the Bank
under this Agreement or the other documents contemplated hereby shall be paid
directly to the Bank at its office set forth in Section 9.10 hereof in
immediately available United States funds, without set off, deduction or
counterclaim. Borrower hereby authorizes and request Bank to Debit Borrower's
checking or deposit or other accounts with the Bank for all or a part of any
such amounts when due, provided, however, that this authorization shall not
affect the Borrower's obligation to pay, when due, any Indebtedness whether or
not account balances are sufficient to pay amounts due.

         2.10 Receipt of Payments. Any payment of the Indebtedness made by mail
will be deemed tendered and received only upon actual receipt by the Bank at the
address designated for such payment, whether or not the Bank has authorized
payment by mail or any other manner, and shall not be deemed to have been made
in a timely manner unless received on the date due for such payment, time being
of the essence. The Borrower expressly assumes all risks of loss or liability
resulting from non-delivery or delay of delivery of any item of payment
transmitted by mail or in any other manner. Acceptance by the Bank of any
payment in an amount less than the amount then due shall be deemed an acceptance
on account only.

         2.11 Default Interest. Notwithstanding anything herein to the contrary,
in the event and so long as an Event of Default shall exist, all principal
outstanding under the Note shall bear interest, payable on demand, from the date
of such Event of Default at a rate per annum equal to:

                  i.       in the case of a Prime-based Loan, three percent (3%)
                           above the Prime-base Rate; and

                  ii.      in the case of a Eurodollar-based Loan, three percent
                           (3%) above the Eurodollar-based Rate until the end of
                           the then current Interest Period, at which time such
                           Eurodollar-based Loans shall be automatically
                           converted into Prime-based Loans and bear interest at
                           the rate provided for in clause (a) above.

         2.12 Conversion and Renewal of Loans. Providing that no Event of
Default shall have occurred and be continuing, the Borrower may elect to renew
or convert Applicable Interest Rates applicable to Advances from the Prime-based
Rate to the Eurodollar-based Rate or from the Eurodollar-based Rate to the
Prime-based Rate, provided that any conversion of a Eurodollar-based Loan shall
be made only on the last Business Day of the Interest Period applicable to such
Eurodollar-based Loan. If the Borrower desires such a renewal or conversion, it
shall give Bank not less than three (3) Business Days' prior notice in the
manner provided in Section 2.2 hereof, specifying the date of such renewal or
conversion, the Advances to be converted and the type of Advances elected. If
with respect to any Eurodollar-based Loan outstanding at any time the Bank does
not receive notice of the election from a Borrower not less than three (3)
Business Days prior to the last day of the Interest Period therefor, the
Borrower shall be deemed to have elected to convert such Eurodollar-based Loan
to a Prime-based Loan at the end of the then current Interest Period unless such
Eurodollar-based Loan is repaid upon the last day of such Interest Period.



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<PAGE>   11


         2.13 Early Termination Compensation. In the event that Borrower shall
terminate this Agreement on or before the second anniversary hereof, Borrower
shall be obligated to pay to Bank, as a condition to such termination and prior
to the release of Bank's liens and encumbrances, the amount of: (a) Three
Hundred Thousand Dollars ($300,000) if such termination occurs before the first
anniversary hereof; or (b) Two Hundred Thousand Dollars ($200,000) if such
termination occurs on or after the first anniversary hereof but before the
second anniversary of this Agreement.

                                   SECTION 3.
                  SPECIAL PROVISIONS FOR EURODOLLAR-BASED LOANS

         3.1 Reimbursement of Prepayment Costs. As to any Advances, if any
prepayment thereof shall occur on any day other than the last day of an Interest
Period (in the case of a Euro dollar-based Loan) or the first day of an Interest
Period (with regard to a Prime-Based Loan) (whether pursuant to this Article, or
by acceleration, or otherwise), or if an Applicable Interest Rate shall be
changed during any Interest Period pursuant to this Article, the Borrower agrees
to reimburse Bank any costs incurred by Bank as a result of the timing thereof
including but not limited to any net costs incurred in liquidating or employing
deposits from third parties, upon Bank's delivery to Borrower of a certificate
setting forth in reasonable detail the basis for determining such costs, which
certificate shall be conclusively presumed correct save for manifest error.

         3.2 Eurodollar Lending Office. For any Advance for which the Applicable
Interest Rate is the Eurodollar-based Rate, if Bank shall designate a eurodollar
lending office which maintains books separate from those of the rest of Bank,
Bank shall have the option of maintaining and carrying the relevant advance on
the books of such office.

         3.3 Circumstances Affecting Eurodollar-based Availability. If Bank
determines that, by reason of circumstances affecting the foreign exchange and
interbank markets generally, deposits in eurodollars in the applicable amounts
are not being offered to Bank for an Interest Period, then Bank shall forthwith
give notice thereof to the Borrower. Thereafter, the obligation of Bank to make
Eurodollar-based Loans, and the right of Borrower to convert an Advance to or
refund an Advance as a Eurodollar-based Loan shall be suspended and all of the
Loans shall be Prime-based Loans bearing interest at the Prime-based Rate until
the Bank notifies Borrower that such circumstance no longer exists.

         3.4 Laws Affecting Eurodollar-based Loan Availability. If, after the
date hereof, the introduction of, or any change in, any applicable law, rule or
regulation or in the interpretation or administration thereof by any
governmental authority charged with the interpretation or administration
thereof, or compliance by Bank (or its eurodollar lending offices) with any
request or directive (whether or not having the force of law) of any such
authority, shall make it unlawful or impossible for Bank to honor its
obligations hereunder to make or maintain any Advance with interest at the
Eurodollar-based Rate, Bank shall forthwith give notice thereof to Borrower.
Thereafter: (a) the obligations to make Eurodollar-based Loans and the right of
Borrower to convert an Advance or refund an Advance as a Eurodollar-based Loan
shall be suspended; and (b) if Bank may not lawfully continue to maintain a
Eurodollar-based Loan to the end of the then current Interest Period, the
Prime-based Rate shall be the Applicable Interest Rate for such Eurodollar-based
Loan for the remainder of such Interest Period.

         3.5 Increased Costs. In the event that any change after the date hereof
in applicable law, treaty or governmental regulation, or in the interpretation
or application thereof, or compliance by Bank with any request or directive
(whether or not having the force of law) from any central bank or other
financial, monetary or other authority:




                                      -10-
<PAGE>   12

                  i.       shall subject Bank (or its eurodollar lending office)
                           to any tax, duty or other charge with respect to any
                           Advance or shall change the basis of taxation of
                           payments to Bank (or its eurodollar lending office)
                           of the principal of or interest on any Advance or any
                           other amounts due under this Agreement (except for
                           changes in the rate of tax on the overall net income
                           or gross receipts of Bank or its eurodollar lending
                           office imposed by the jurisdiction in which Bank's
                           principal executive office or eurodollar lending
                           office is located); or

                  ii.      shall impose, modify or deem applicable any reserve
                           (including, without limitation, any imposed by the
                           Board of Governors of the Federal Reserve System but
                           excluding with respect to any Eurodollar-based Loan
                           any such requirement included in an applicable
                           Eurodollar Reserve Requirement), special deposit, or
                           similar requirement against assets of, deposits with
                           or for the account of, or credit extended by Bank (or
                           its eurodollar lending offices) or shall impose on
                           Bank (or its eurodollar lending offices) or the
                           foreign exchange and interbank markets or other
                           condition affecting any Advance or any commitment of
                           Bank under this Agreement;

and the result of any of the foregoing is to increase the cost to Bank of
making, renewing or maintaining any Advance or its commitments hereunder or to
reduce the amount or rate of return on any sum received or receivable by Bank
under this Agreement, or under any Note, then Bank may promptly notify Borrower
of such fact and demand compensation therefor and Borrower agrees to pay to Bank
(so long as such event or circumstance continues to exist) such additional
amount or amounts as will compensate Bank for such increased costs or reduced
return within thirty (30) days of such notice; provided, however that, to the
extent doing so would eliminate or decrease Borrower's liability for increased
costs hereunder, and to the extent that doing so would not otherwise be
disadvantageous to Bank, Bank will attempt to designate a eurodollar lending
office for which the tax, duty, reserve, deposit requirement, or other
circumstance giving rise to Bank's demand for increased compensation, is not
applicable. A certificate of the Bank demanding such compensation setting forth
in reasonable detail the basis for determining such additional amount or amounts
necessary to compensate shall be conclusively presumed to be correct save for
manifest error.

                                   SECTION 4.
                   CONDITIONS PRECEDENT TO OBLIGATIONS OF BANK

         The obligations of the Bank under this Agreement are subject to the
satisfaction of each of the following conditions:

         4.1 Documents Executed and Filed. The Borrower shall have executed (or
caused to be executed) and delivered to the Bank and, as appropriate, there
shall have been filed or recorded with such filing or recording offices as the
Bank shall deem appropriate, the following:

                  (a)      The Note;

                  (b)      The Security Agreements;

                  (c)      The Financing Statements;

                  (d)      Acknowledgements of Borrower's landlords with respect
                           to each Location, together with true copies of each
                           Lease for such Locations.



                                      -11-
<PAGE>   13

         4.2 Certified Resolutions. The Borrower shall have furnished to the
Bank a copy of resolutions of the Board of Directors of the Borrower authorizing
the execution, delivery and performance of this Agreement, the borrowing
hereunder, the Note and the Documents to which Borrower is party, which shall
have been certified by the Secretary or Assistant Secretary of the Borrower as
being complete, accurate and in effect.

         4.3 Certified Articles. The Borrower shall have furnished to the Bank a
copy of the Articles of Incorporation including all amendments thereto and
restatements thereof, and all other charter documents of the Borrower, which
shall have been certified by the jurisdiction of organization of the respective
parties thereto.

         4.4 Certified Bylaws. The Borrower shall have furnished to the Bank a
copy of the Bylaws of the Borrower, including all amendments thereto and
restatements thereof, which shall have been certified by the Secretary or
Assistant Secretary of the Borrower, as being complete, accurate and in effect.

         4.5 Certificate of Good Standing. The Borrower shall have furnished to
the Bank a certificates of good standing with respect to the Borrower certified
by the Secretary of State for the State of Alabama, Delaware, Georgia, North
Carolina, South Carolina, and Texas.

         4.6 Certificate of Incumbency. The Borrower shall have furnished to the
Bank a certificate of the Secretary or Assistant Secretary of the Borrower, as
to the incumbency and signatures of the officers of the Borrower signing this
Agreement, the Note and Documents.

         4.7 UCC Lien Search. The Bank shall have received UCC record and copy
searches, evidencing the appropriate filing and recording of the Financing
Statements and disclosing no notice of any liens or encumbrances filed against
any of the Collateral.

         4.8 Casualty Insurance. The Borrower shall have furnished to the Bank,
in form, content and amounts and with companies satisfactory to the Bank,
casualty insurance policies with loss payable clauses in favor of the Bank,
relating to the assets and properties (including, but not limited to, the
Collateral) of the Borrower.

         4.9 Opinion of Counsel. Borrower shall have caused its legal counsel to
deliver to Bank a legal opinion covering such matters as Bank shall require, and
otherwise in form and content satisfactory to Bank.

         4.10 Existing Loan. Borrower shall have caused to be delivered to Bank
such evidence as Bank shall require that any liens securing the Existing Loan
shall be released and discharged as of the date of closing.

         4.11 Approval of Bank Counsel. All actions, proceedings, instruments
and documents required to carry out the transactions contemplated by this
Agreement or incidental thereto and all other related legal matters shall have
been satisfactory to and approved by legal counsel for the Bank, and said
counsel shall have been furnished with such certified copies of actions and
proceedings and such other instruments and documents as they shall have
reasonably requested.







                                      -12-
<PAGE>   14

                                   SECTION 5.
                         WARRANTIES AND REPRESENTATIONS

         On a continuing basis from the date of this Agreement until the
Indebtedness is paid in full and the Borrower has performed all of its other
obligations hereunder, the Borrower represents and warrants that:

         5.1 Corporate Existence and Power. (a) The Borrower is a corporation
duly organized, validly existing and in good standing under the laws of the
State of Delaware; (b) it has the power and authority to own its properties and
assets and to carry out its business as now being conducted and is qualified to
do business and in good standing in every jurisdiction wherein such
qualification is necessary and (c) the Borrower has the power and authority to
execute, deliver and perform this Agreement, to borrow money in accordance with
its terms, to execute, deliver and perform the Note and other Documents to which
it is party and to grant to the Bank liens and security interests in the
Collateral as hereby contemplated and to do any and all other things required of
it hereunder.

         5.2 Authorization and Approvals. The execution, delivery and
performance of this Agreement, the borrowings hereunder and the execution,
delivery and performance of the Note, the other Documents: (a) have been duly
authorized by all requisite corporate action of the Borrower (b) except for UCC
filings, do not require registration with or consent or approval of, or other
action by, any federal, state or other governmental authority or regulatory
body, (c) will not violate any provision of law, any order of any court or other
agency of government, the Certificate of Incorporation or Bylaws of the
Borrower, any provision of any indenture, note, agreement or other instrument to
which any of them are a party, or by which any of their properties or assets are
bound, (d) will not be in conflict with, result in a breach of or constitute
(with or without notice or passage of time) a default under any such indenture,
note, agreement or other instrument, and (e) will not result in the creation or
imposition of any lien, charge or encumbrance of any nature whatsoever upon any
of the properties or assets of the Borrower, other than in favor of the Bank and
as contemplated hereby.

         5.3 Valid and Binding Agreement. This Agreement and the Documents will
be, when delivered, valid and binding obligations of the Borrower, in accordance
with its respective terms except to the extent enforceability thereof may be
limited under applicable bankruptcy, moratorium, insolvency, rearrangement,
reorganization or similar debtor relief laws affecting the rights of creditors
generally from time to time in effect.

         5.4 Actions, Suits or Proceedings. There are no actions, suits or
proceedings, at law or in equity, and no proceedings before any arbitrator or by
or before any governmental commission, board, bureau, or other administrative
agency, pending, or, to the best knowledge of the Borrower, threatened against
or affecting the Borrower or any properties or rights of the Borrower which, if
adversely determined, could materially impair the right of it to carry on its
business substantially as now conducted or could have a material adverse effect
upon its financial condition.

         5.5 No Liens, Pledges, Mortgage or Security Interests. Except for
Permitted Liens none of the Borrower's assets and properties, including without
limit the Collateral, are subject to any mortgage, pledge, lien, security
interest or other encumbrances of any kind or character other than in favor of
Bank and Permitted Liens.





                                      -13-
<PAGE>   15

         5.6 Accounting Principles. All consolidated and consolidating balance
sheets, earnings statements and other historical financial data furnished to the
Bank for the purposes of, or in connection with, this Agreement and the
transactions contemplated by this Agreement, have been prepared in accordance
with GAAP, and do or will fairly present the financial condition of the
Borrower, as of the dates, and the results of its operations for the periods,
for which the same are furnished to the Bank. Without limiting the generality of
the foregoing, the annual and quarterly Financial Statements have been prepared
in accordance with GAAP (except as disclosed therein) and the monthly Financial
Statements have been prepared in a manner consistent with the calculations used
in quarterly Financial Statements, and all of them fairly present the financial
condition of the Borrower as of the dates, and the results of its operations for
the fiscal periods, for which the same are furnished to the Bank. The Borrower
has no material contingent obligations, liabilities for taxes, long-term leases
or unusual forward or long-term commitments not disclosed by, or reserved
against in, the Financial Statements.

         5.7 Financial Condition. The Borrower is solvent, able to pay its
respective debts as they mature, has capital sufficient to carry on its business
and has assets the fair market value of which exceed its liabilities, and the
Borrower will not be rendered insolvent, under-capitalized or unable to pay
maturing debts by the execution or performance of this Agreement or the other
documents contemplated hereby. There has been no material adverse change in the
business, properties or condition (financial or otherwise) of the Borrower since
the date of the latest of the Financial Statements.

         5.8 Taxes. The Borrower has filed by the due date therefor all federal,
state and local tax returns and other reports it is required by law to file, has
paid or caused to be paid all taxes, assessments and other governmental charges
that are shown to be due and payable under such returns, and has made adequate
provision for the payment of such taxes, assessments or other governmental
charges which have accrued but are not yet payable except to the extent such
taxes have been adequately reserved against by Borrower and the delay in payment
thereof will not result in imposition of penalties in excess of Fifteen Thousand
Dollars ($15,000). The Borrower has no knowledge of any deficiency or assessment
in connection with any taxes, assessments or other governmental charges not
adequately disclosed in the Financial Statements.

         5.9 Compliance with Laws. The Borrower has complied with all applicable
laws, to the extent that failure to comply would materially interfere with the
conduct of the business of the Borrower as presently conducted.

         5.10 Indebtedness. Except as permitted under Section 7.4 hereof, the
Borrower has no indebtedness for money borrowed or any direct or indirect
obligations under any leases (whether or not required to be capitalized under
GAAP) or any agreements of guarantee or surety except for the endorsement of
negotiable instruments by the Borrower in the ordinary course of business for
deposit or collection.

         5.11 Material Agreements. Borrower has no material leases, contracts or
commitments of any kind (including, without limitation, employment agreements,
collective bargaining agreements, powers of attorney, distribution contracts,
patent or trademark licenses, bonus, pension and retirement plans, or accrued
vacation pay, insurance and welfare agreements); to the best knowledge of
Borrower, all parties to such agreements have complied with the provisions of
such leases, contracts or commitments; and to the best knowledge of the
Borrower, no party to such agreements is in default thereunder, nor has there
occurred any event which with notice or the passage of time, or both, would
constitute such a default.




                                      -14-
<PAGE>   16

         5.12 Margin Stock. The Borrower is not engaged principally, or as one
of its important activities, in the business of extending credit for the purpose
of purchasing or carrying any "margin stock" within the meaning of Regulation U
of the Board of Governors of the Federal Reserve System, and no part of the
proceeds of any Loan hereunder will be used, directly or indirectly, to purchase
or carry any margin stock or to extend credit to others for the purpose of
purchasing or carrying any margin stock.

         5.13 Pension Funding. The Borrower has not incurred any accumulated
funding deficiency within the meaning of ERISA or incurred any liability to the
PBGC in connection with any employee benefit plan established or maintained by
the Borrower and no reportable event or prohibited transaction, as defined in
ERISA, has occurred with respect to such plans.

         5.14 Misrepresentation. No warranty or representation by the Borrower
contained herein or in any certificate or other document furnished by the
Borrower pursuant hereto contains any untrue statement of material fact or omits
to state a material fact necessary to make such warranty or representation not
misleading in light of the circumstances under which it was made.

         5.15 Hazardous Materials Warranties, Representations and Covenants.

              (a)   Borrower is not party to any litigation or administrative
                    proceeding, nor so far as is known by Borrower, is any
                    litigation or administrative proceeding threatened against
                    it, which in either case (a) asserts or alleges that
                    Borrower violated any federal, state or local laws,
                    ordinances, statutes, rules, regulations or judgments
                    governing the use, storage, transportation, or disposal of
                    Hazardous Materials ("Environmental Laws"), (b) asserts or
                    alleges that Borrower is required to clean up, remove, or
                    take remedial or other response action due to the disposal,
                    depositing discharge, leaking or other release of any
                    Hazardous Materials, (c) asserts or alleges that Borrower is
                    required to pay all or a portion of the cost of any past,
                    present, or future clean up, removal or remedial or other
                    response action which arises out of or is related to the
                    disposal, depositing, discharge, leaking or other release of
                    any Hazardous Material by any one of them.


              (b)   To the best knowledge of Borrower, there are no conditions
                    existing currently or likely to exist during the term of
                    this Agreement which would subject the Borrower to damages,
                    penalties, injunctive relief or clean up costs under any
                    Environmental Laws or which require or are likely to require
                    clean up, removal, remedial action or other response
                    pursuant to Environmental Laws by Borrower.

              (c)   The Borrower is not subject to any judgment, decree, order
                    or citation related to or arising under the Environmental
                    Laws and Borrower has not received any notice
                    ("Environmental Complaint") of any violations of
                    Environmental Laws (and, within five days of receipt of any
                    Environmental Complaint the Borrower shall deliver to the
                    Bank a copy thereof), and to the best of Borrower's
                    knowledge, there have been no actions commenced or
                    threatened by any party for noncompliance with any
                    Environmental Laws.

              (d)   The Borrower has all permits, licenses, approvals and other
                    authorizations required under the Environmental Laws.

              (e)   The Borrower covenants and agrees that it shall not use,
                    introduce or maintain Hazardous Materials in any premises
                    which they may from time to time occupy other than in strict
                    accordance and compliance with Environmental Laws.



                                      -15-
<PAGE>   17

              (f)   Borrower agrees that it shall promptly notify Bank in
                    writing as soon as Borrower becomes aware of any condition
                    or circumstance which makes the environmental warranties,
                    representations and covenants contained herein incomplete or
                    inaccurate in any material respect as of any date.

              (g)   In the event of any condition or circumstance that makes any
                    environmental representation, warranty or covenant
                    incomplete or inaccurate in any material respect as of any
                    date, Borrower shall, at the request of Bank, at the sole
                    expense of Borrower, retain an environmental consultant
                    acceptable to Bank, to conduct a thorough and complete
                    environmental assessment in respect of any environmental
                    concerns of Bank arising from that changed condition or
                    circumstance. A copy of said assessment will be addressed to
                    Bank and promptly delivered to Bank, Borrower upon
                    completion.

              (h)   In the event of a violation of Environmental Laws, whether
                    discovered pursuant to an environmental consultant's
                    assessment or otherwise, Borrower covenants and agrees to
                    complete all investigations, studies, sampling and testing,
                    and all remedial, removal and other actions necessary to
                    clean up and remove all Hazardous Materials on or affecting
                    premises or property occupied or used by Borrower, whether
                    caused by the Borrower or a third party, in accordance with
                    Environmental Laws to the satisfaction of Bank, and in
                    accordance with the directives of all federal, state, and
                    local governmental authorities.

              (i)   At any time Borrower, directly or indirectly through any
                    professional consultant or other representative, determines
                    to undertake an environmental audit, assessment or
                    investigation, Borrower shall promptly provide Bank with
                    written notice of the initiation of the environmental
                    audit/assessment, fully describing the purpose and intended
                    scope of the said audit/assessment. Upon receipt, Borrower
                    shall promptly provide Bank copies of all final findings and
                    conclusions of any such environmental investigation.
                    Preliminary findings and conclusions shall be provided if
                    final reports have not been completed and delivered to Bank
                    within sixty days following completion of the preliminary
                    findings and conclusions.

              (j)   Borrower hereby indemnifies, saves and holds Bank and any of
                    its past, present and future officers, directors,
                    shareholders, employees, representatives and consultants
                    harmless from any and all loss damages, suits, penalties,
                    costs, liabilities and expenses (including, but not limited
                    to reasonable investigation, environmental audit(s), and
                    legal expenses), arising out of any claim, loss or damages
                    of any property, injuries to or death of persons,
                    contamination of or adverse effects on the environment, or
                    any violation of any Environmental Laws, caused by or in any
                    way related to the real property of Borrower, or due to any
                    acts of Borrower or its officers, directors, shareholders,
                    employees, consultants and/or representatives; provided,
                    however, that the foregoing indemnifications shall not be
                    applicable when arising from events or conditions occurring
                    while the Bank is in sole possession (subject to the rights
                    of any creditors of Borrower) of the real property of
                    Borrower. In no event shall Borrower be liable hereunder for
                    any loss, damages, suits, penalties, costs, liabilities or
                    expenses arising solely from any act or willful misconduct
                    or gross negligence of Bank or its agents or employees. It
                    is expressly agreed and understood by Borrower that the
                    indemnifications granted herein are intended to protect
                    Bank, its past, present and

                                      -16-
<PAGE>   18

                    future officers, directors, shareholders, employees,
                    consultants and representatives from any claims that may
                    arise by reason of any security interest, liens and/or
                    mortgages granted to Bank, or under any other document or
                    agreement given to secure repayment of the Indebtedness,
                    whether or not such claims arise before or after Bank has
                    foreclosed upon and/or otherwise becomes the owner of any
                    such property, real or personal. All obligations of
                    indemnity as provided hereunder shall be supported and
                    secured by any Documents executed by Borrower in favor of
                    Bank. The indemnifications contained herein extend to
                    shareholders of Bank qua shareholders only, and nothing
                    contained herein shall be construed to prevent Borrower from
                    asserting any claim whatsoever against any party or entity
                    that occasions any adverse environmental effects or any
                    violation of any Environmental Laws upon or in any way
                    related to the real property of Borrower, whether or not
                    such party or entity is a shareholder of Bank.

              (k)   In the event any mortgage securing the Indebtedness is
                    foreclosed or the Borrower tenders a deed in lieu of
                    foreclosure, the Borrower shall deliver the premises to the
                    Bank free of any and all Hazardous Materials to the extent
                    necessary so that the condition of the premises shall not be
                    a violation of any Environmental Laws.

              (l)   The provisions of this section shall be in addition to any
                    and all other obligations and liabilities the Borrower may
                    have to the Bank at common law or pursuant to any other
                    agreement and shall survive (i) the repayment of the
                    Indebtedness, (ii) the satisfaction of all of the other
                    obligations of the Borrower hereunder and under the other
                    Documents, (iii) the discharge of the Mortgage, and (iv) the
                    foreclosure of the Mortgages or acceptance of a deed in lieu
                    thereof.

              (m)   "Hazardous Materials" includes, without limitation, any
                    flammable explosives, radioactive materials, hazardous
                    materials, hazardous wastes, hazardous or toxic substances
                    or related materials defined in the Comprehensive
                    Environmental Response, Compensation and Liability Act of
                    1980, as amended (42 U.S.C. Sections 9601, et seq.), the
                    Hazardous Materials Transportation Act, as amended (49
                    U.S.C. Sections 1801, et seq.), the Resource Conservation
                    and Recovery Act, as amended (42 U.S.C. Sections 6901, et
                    seq.) and in the regulations adopted and publications
                    promulgated pursuant thereto, or any other federal, state or
                    local governmental law, ordinance, rule, or regulation.

                                   SECTION 6.
                              AFFIRMATIVE COVENANTS

         On a continuing basis from the date of this Agreement until the
Indebtedness is paid in full and the Borrower has performed all of its other
obligations hereunder, the Borrower covenants and agrees that it will:




                                      -17-
<PAGE>   19



         6.1      Financial and Other Information.

                  6.1.1 Annual Financial Reports. Furnish to the Bank, in form
and reporting basis satisfactory to the Bank, not later than one hundred twenty
(120) days after the close of each fiscal year of the Borrower, financial
statements of the Borrower containing the balance sheet of the Borrower of the
close of each such fiscal year, statements of income and retained earnings and a
statement of cash flows for each such fiscal year, and such other comments and
financial details as are usually included in similar reports. Such reports shall
be prepared in accordance with GAAP by independent certified public accountants
of recognized standing selected by the Borrower and acceptable to the Bank and
shall contain unqualified opinions as to the fairness of the statements therein
contained. These statements shall be prepared on an audited basis.

                  6.1.2 Monthly Financial Statements. Furnish to the Bank not
later than forty five (45) days after the end of the third, sixth and ninth
month of each fiscal year, or thirty (30) days after the close of each other
month of each fiscal year of the Borrower, unaudited financial statements on a
consolidated basis containing the balance sheet of the Borrower as of the end of
each such period, statements of income and retained earnings of the Borrower and
a statement of cash flows of the Borrower for the portion of the fiscal year up
to the end of such period, and such other comments and financial details as are
usually included in similar reports. The statements shall be in such detail as
the Bank may reasonably require, and the accuracy of the statements shall be
certified by the chief executive or financial officer of the Borrower. 

                  6.1.3 No Default Certificate. Together with each delivery of
the financial statements required by Sections 6.1.1 and 6.1.2 of this Agreement,
furnish to the Bank a certificate of its chief executive or financial officer
stating that no Event of Default or Default has occurred, or if any such Event
of Default or Default exists, stating the nature thereof, the period of
existence thereof and what action the Borrower proposes to take with respect
thereto. 

                  6.1.4 Accounts. Furnish to Bank not later than ten (10) days
after and as of the end of each month, agings of the Accounts and a schedule
identifying each Eligible Account and identifying for each Eligible Account, the
portions thereof which constitute Eligible Principal Accounts and Eligible Other
Accounts. Any such schedule, certificate or report shall be executed by a duly
authorized officer of Borrower and shall be in such form and detail as Bank may
specify.

                  6.1.5 Inventory Reports. Furnish to Bank not later than three
(3) days after and as of the end of each week, reports as to the amount of
Eligible Inventory. The report shall be executed by a duly authorized officer of
Borrower and shall be in such form and detail as Bank may specify.

                  6.1.6 Borrowing Base Report. Furnish to the Bank not later
than three (3) days after and as of the end of each week, in form, content, and
reporting basis satisfactory to the Bank, a Borrowing Base report.

                  6.1.7 Reports Filed with the SEC. Furnish to the Bank copies
of all reports and information filings by Borrower required by the Securities
and Exchange Commission ("SEC") on or before the statutory filing date.



                                      -18-
<PAGE>   20


                  6.1.8 Annual Financial Projections. Furnish to the Bank, in
form and reporting basis satisfactory to the Bank, not later than thirty (30)
days prior to the commencement of each fiscal year of the Borrower, projected
financial statements of the Borrower containing the balance sheet of the
Borrower of the beginning of each such fiscal year, statements of income and
retained earnings and a statement of cash flows for each such fiscal year, and
such other comments and financial details as are usually included in similar
reports prepared by management of Borrower utilizing their then current
knowledge and reasonable expectations with respect to the periods covered
thereby.

                  6.1.9 Adverse Events. Promptly inform the Bank of the
occurrence of any Event of Default or Default, or of any other occurrence which
has or could reasonably be expected to have a materially adverse effect upon the
Borrower's business, properties, or financial condition or upon the Borrower's
ability to comply with its obligations under the Documents.

                  6.1.10 Other Information As Requested. Promptly furnish to the
Bank such other information regarding the operations, business affairs and
financial condition of the Borrower and its subsidiaries as the Bank may
reasonably request from time to time and permit the Bank, its employees,
attorneys and agents, upon 72 hours prior notice (except in case of emergency or
during the existence of an Event of Default) to inspect all of the books,
records and properties of the Borrower and its subsidiaries during normal
business hours.

         6.2      Compliance with Borrowing Formula. In the event that at any
time, the aggregate principal amount of Advances exceeds the Revolving Maximum,
immediately pay to Bank for application against such Advances, an amount
sufficient to eliminate such excess.

         6.3      Store Contribution. Maintain, as of the end of each fiscal
month an aggregate Store Contribution for Locations which have been open (as of
the date of calculation) twelve (12) months or more, of not less than ten
percent (10%) of the aggregate of all such Location's total store revenues for
the most recent six (6) months, provided however, that in determining compliance
with this Section 6.3, with respect to any Location which has been open more
than 12 but less than 18 months as of the date of any calculation, such
Location's store revenues and Store Contributions shall only be included with
respect to the whole months in excess of 12 months that such Location has been
open.

         6.4      New Subsidiaries and Locations. Cause each subsidiary of
Borrower now or hereafter owned or acquired by Bank which Bank determines (in
its sole discretion) to have significant assets or revenues, to guaranty the
obligations of Borrower to Bank and to secure such guaranty with liens upon and
security interests in all such subsidiary's assets, and, with respect to each
Location hereafter acquired or opened by Borrower, provide Bank with such
Financing Statements, Landlord acknowledgements and other documents as Bank
shall require in connection therewith.

         6.5      Insurance. Keep its insurable properties (including but not
limited to the Collateral) adequately insured and maintain (a) insurance
against fire and other risks customarily insured against under an "all-risk"
policy and such additional risks customarily insured against by companies
engaged in the same or a similar business to that of the Borrower, (b) necessary
worker's compensation insurance, (c) public liability and product liability
insurance, and (d) such other insurance as may be required by law or as may be
reasonably required in writing by the Bank, all of which Insurance shall be in
such amounts, containing such terms, in such form, for such purposes, prepaid
for such time period, and written by such companies as shall be satisfactory to
the Bank. All such policies shall contain a provision whereby they may not be
canceled or amended except upon thirty (30) days' prior written notice to the
Bank. The Borrower will promptly deliver to the Bank, at the Bank's request,
evidence satisfactory to the Bank that such insurance has been so procured and,
with respect to casualty insurance, made payable to the Bank. If the Borrower
fails to maintain satisfactory insurance as herein provided, the Bank shall have
the option to


                                      -19-
<PAGE>   21

do so, and the Borrower agrees to repay the Bank upon demand, with interest at
the Prime-based Rate then in effect for the Revolving, all amounts so expended
by the Bank. The Borrower hereby appoints the Bank or any employee or agent of
the Bank as the Borrower's attorney-in-fact, which appointment is coupled with
an interest and irrevocable, and authorizes the Bank or any employee or agent of
the Bank, on behalf of the Borrower, to adjust and compromise any loss under
said insurance and to endorse any check or draft payable to the Borrower in
connection with returned or unearned premiums on said insurance or the proceeds
of said insurance, and any amount so collected shall be applied toward repair
and/or replacement of the Collateral to which such casualty occurred or
satisfaction of the Indebtedness in accordance in accordance with the provisions
governing such application in the Documents pursuant to which Bank's Liens on
such Collateral were granted.

         6.6      Taxes. Pay in accordance with commercially reasonable
practices and within the time that they can be paid without late charge, penalty
or interest all taxes, assessments and similar imposts and charges of every kind
and nature lawfully levied, assessed or imposed upon the Borrower, and its 
property, except to the extent being contested in good faith and, if requested
by the Bank, bonded in an amount and manner satisfactory to the Bank. If the
Borrower shall fail to pay such taxes and assessments within the time they can
be paid without penalty, late charge or interest the Bank shall have the option
to do so, and the Borrower agrees to repay the Bank upon demand, with interest
at the Prime-based Rate from time to time in effect under the Revolving Note,
all amounts so expended by the Bank.

         6.7      Maintain Corporation and Business. Do or cause to be done all
things necessary to preserve and keep in full force and effect the Borrower's
corporate existence, and material rights and franchises and comply with all
material respects with applicable laws, continue to conduct and operate its
business substantially as conducted and operated during the present and
preceding calendar year, at all times maintain, preserve and protect all
material franchises and trade names and property and keep the same in good
repair, working order and condition, and from time to time make, or cause to be
made, all needed and proper repairs, renewals, replacements, betterments and
improvements thereto so that the business carried on in connection therewith may
be properly and advantageously conducted at all times.

         6.8      ERISA. (a) At all times meet the minimum funding requirements 
of ERISA with respect to the Borrower's employee benefit plans subject to ERISA,
(b) promptly after the Borrower knows or has reason to know (i) of the
occurrence of any event, which would constitute a reportable event or prohibited
transaction under ERISA, or (ii) that the PBGC or the Borrower has instituted or
will institute proceedings to terminate an employee pension plan, deliver to the
Bank a certificate of the chief financial officer of the Borrower setting forth
details as to such event or proceedings and the action which the Borrower
proposes to take with respect thereto, together with a copy of any notice of
such event which may be required to be filed with the PBGC, and (c) furnish to
the Bank (or cause the plan administrator to furnish the Bank) a copy of the
annual return (including all schedules and attachments) for each plan covered by
ERISA, and filed with the Internal Revenue Service by the Borrower not later
than ten (10) days after such report has been so filed.

         6.9      Financial Covenants. At all times maintain a Net Worth not 
less than Four Million Dollar ($4,000,000).

                                   SECTION 7.
                               NEGATIVE COVENANTS

         On a continuing basis from the date of this Agreement until the
Indebtedness is paid in full and the Borrower has performed all of its other
obligations hereunder, the Borrower covenants and agrees that it will not,
without the Bank's prior written consent:



                                      -20-
<PAGE>   22

         7.1      Dividends. Declare or pay any cash dividends on, or make any 
other cash distribution (whether by reduction of capital or otherwise) with
respect to any shares of its capital stock.

         7.2      Stock Acquisition. Purchase, redeem, retire or otherwise 
acquire any of the shares of its capital stock, or make any commitment to do so
other than pursuant to that certain letter agreement dated September 23, 1998
between Borrower and The Buxton Company.

         7.3      Liens and Encumbrances. Create, incur, assume or suffer to 
exist any mortgage, pledge, encumbrance, security interest, lien or charge of
any kind upon any of its property or assets (including without limit any charge
upon property purchased or acquired under a conditional sales or other title
retaining agreement or lease required to be capitalized under GAAP) whether now
owned or hereafter acquired, other than:

                  (a)      to Bank; and

                  (b)      Permitted Liens.

         7.4      Indebtedness. Incur, create, assume or permit to exist any
indebtedness or liability on account of deposits or advances or any indebtedness
or liability for borrowed money, or any other indebtedness or liability
evidenced by notes, bonds, debentures or similar obligations, or any other
indebtedness whatsoever, except for:

                  (a)      the Indebtedness;

                  (b)      existing indebtedness disclosed to the Bank;

                  (c)      indebtedness secured by Permitted Liens; and

                  (d)      the Existing Loan.

         7.5      Extension of Credit. Make loans, advances or extensions of
credit to any Person, except (a) loans and advances to Borrower's customers
evidenced by Pawn Tickets; and (b) advances to employees of Borrower not
exceeding Fifty Thousand Dollars ($50,000) in aggregate at any time outstanding;
and (c) loans to Borrower's franchisees not to exceed (i) One Hundred Fifty
Thousand Dollars ($150,000) in any instance, or (ii) Three Hundred Thousand
Dollars ($300,000) during any fiscal year provided that, promptly upon the
making of any such loan, Borrower delivers and collaterally assigns to Bank all
of Borrower's interest in a note evidencing such loan and any security therefor.

         7.6      Guarantee Obligations. Guarantee or otherwise, directly or
indirectly, in any way be or become responsible for obligations of any other
Person, whether by agreement to purchase the indebtedness of any other Person,
agreement for the furnishing of funds to any other Person through the furnishing
of goods, supplies or services, by way of stock purchase, capital contribution,
advance or loan, for the purpose of paying or discharging (or causing the
payment or discharge of) the indebtedness of any other Person, or otherwise,
except for the endorsement of negotiable instruments by the Borrower in the
ordinary course of business for deposit for collection.

         7.7      Subordination of Receivables. Subordinate any indebtedness due
to it from a Person to indebtedness of other creditors of such Person.



                                      -21-
<PAGE>   23

         7.8      Property Transfer, Merger or Lease-Back. (a) Sell, lease,
transfer or otherwise dispose of properties and asset, having an aggregate book
value of more than One Hundred Thousand and 00/100 Dollars ($100,000), (whether
in one transaction or in a series of transactions) except as to the sale of
inventory in the ordinary course of business; (b) change its name, consolidate
with or merge into any other corporation, permit another corporation to merge
into it, acquire all or substantially all the properties or assets of any other
Person, enter into any reorganization or recapitalization or reclassify its
capital stock; or (c) enter into any sale-leaseback transaction.

         7.9      Acquire Securities. Purchase or hold beneficially any stock or
other securities of, or make any investment or acquire any interest whatsoever
in, any other Person, except for certificates of deposit with maturities of one
year or less of United States commercial banks with capital, surplus and
undivided profits in excess of $100,000,000 and direct obligations of the United
States Government maturing within one year from the date of acquisition thereof.

         7.10     Acquire/Open Stores. Borrower shall not purchase or acquire
new Locations from other Persons or open new Locations except that:

         (a)      Borrower may acquire new Locations from other Persons to the 
extent that the total consideration therefor does not exceed:

                  (i)      Four Hundred Thousand Dollars ($400,000) with respect
                           to any such acquisition or

                  (ii)     One Million Two Hundred Thousand Dollars ($1,200,000)
                           in aggregate during any fiscal year; and

         (b)      Borrower may open new locations:

                  (i)      during Borrower's 1999 fiscal year, (i) not more than
                           fifteen (15) Locations in any fiscal quarter and (ii)
                           not more than thirty (30) new Locations during the
                           fiscal year;

                  (ii)     during Borrower's 2000 fiscal year (i) not more than
                           twenty four (24) stores in any fiscal quarter, and
                           (ii) not more than fifty (50) Locations during the
                           fiscal year; and

                  (iii)    during Borrowers 2001 fiscal year (i) not more than
                           twenty four (24) Locations in any fiscal quarter and
                           (ii) not more than fifty (50) Locations during such
                           fiscal year.

         7.11     Pension Plan. (a) Allow any fact, condition or event to occur
or exist with respect to any employee pension or profit sharing plans
established or maintained by it which might constitute grounds for termination
of any such plan or for the court appointment of a trustee to administer any
such plan, or (b) permit any such plan to be the subject of termination
proceedings (whether voluntary or involuntary) from which termination
proceedings there may result a liability of the Borrower to the PBGC which, in
the opinion of the Bank, will have a materially adverse effect upon the
operations, business, property, assets, financial condition or credit of the
Borrower.




                                      -22-
<PAGE>   24

                                   SECTION 8.
            EVENTS OF DEFAULT - ENFORCEMENT - APPLICATION OF PROCEEDS

         8.1      Events of Default.  The occurrence of any of the following  
events shall constitute an Event of Default hereunder:

                  8.1.1 Failure to Pay Monies Due. If the Borrower shall fail to
pay, when due, any principal or interest under any Note or other Indebtedness
when due or shall default in an obligation described in Section 6.1 or 6.2
hereof and such failure or default shall continue for a period in excess of
three (3) Business Days after notice by Bank to Borrower thereof.

                  8.1.2 Misrepresentation. If any warranty or representation in
connection with or contained in this Agreement or any Document, or if any
Financial Statements now or hereafter furnished to the Bank by or on behalf of
the Borrower, shall prove to be false or misleading in any material respect as
of the date made or deemed made hereunder.

                  8.1.3 Noncompliance with Bank Agreement. If the Borrower shall
fail to perform in the time and manner required any of its obligations or
covenants under, or shall fail to comply with any of the provisions of, this
Agreement or any other Document and, in the case of a failure to perform
obligations other than those described in Section 6.4, 6.9, Sections 7.1 through
7.11 hereof or Section 8.1.1 above, such failure shall continue for a period in
excess of thirty (30) days after the earlier of Bank's notice to Borrower
thereof or the date Borrower actually becomes aware thereof. 

                  8.1.4 Other Defaults. If the Borrower shall default in the
payment when due of any of its borrowed money indebtedness (other than to the
Bank) in amounts in excess of One Hundred Thousand Dollars ($100,000) or in the
observance or performance of any term, covenant or condition in any agreement or
instrument evidencing, securing or relating to such indebtedness, and such
default be continued for a period sufficient to permit acceleration of the
indebtedness, irrespective of whether any such default shall be forgiven or
waived or there has been acceleration by the holder thereof. 

                  8.1.5 Judgments. If there shall be rendered against the
Borrower one or more judgments or decrees involving an aggregate liability of
One Hundred Thousand Dollars ($100,000) or more, which has or have become
non-appealable and shall remain undischarged, unsatisfied by insurance and
unstayed for more than thirty (30) days, whether or not consecutive, or if a
writ of attachment or garnishment against the property of the Borrower shall be
issued and levied in an action claiming One Hundred Thousand Dollars ($100,000)
or more and not released or appealed and bonded in an amount and manner
satisfactory to the Bank within thirty (30) days after such issuance and levy.

                  8.1.6 Business Suspension Bankruptcy Etc. If the Borrower
shall voluntarily suspend transaction of its business, or if the Borrower shall
not pay its debts as they mature or shall make a general assignment for the
benefit of creditors, or proceedings in bankruptcy, or for reorganization or
liquidation of the Borrower under the Bankruptcy Code or under any other, state
federal or other applicable law for the relief of debtors shall be commenced by
Borrower, or shall be commenced against the Borrower and shall not be discharged
within sixty (60) days of commencement, or a receiver, trustee or custodian
shall be appointed for the Borrower or for any substantial portion of their
respective properties or assets.



                                      -23-
<PAGE>   25


                  8.1.7 Change of Management or Ownership. If a majority of the
persons serving on the board of directors of Borrower as of the date of this
Agreement shall cease to serve on such board of directors or if both Carson
Thompson or Michael Record shall cease to be active in the management of
Borrower and Bank considers (in its reasonable discretion) such change to affect
materially and adversely the prospects of Borrower.

                  8.1.8 Inadequate Funding or Termination of Employee Benefit
Plan. If the Borrower shall fail to meet its minimum funding requirements under
ERISA with respect to any employee benefit plan established or maintained by it,
or if any such plan shall be subject of termination proceedings (whether
voluntary or involuntary) and there shall result from such termination
proceedings a liability of Borrower to the PBGC which in the opinion of the Bank
will have a materially adverse effect upon the operations, business, property,
assets, financial condition or credit of the Borrower. 

                  8.1.9 Occurrence of Certain Reportable Events. If there shall
occur, with respect to any pension plan maintained by the Borrower any
reportable event (within the meaning of Section 4043(b) of ERISA) which the Bank
shall determine constitutes a ground for the termination of any such plan, and
if such event continues for thirty (30) days after the Bank gives written notice
to the Borrower, provided that termination of such plan or appointment of such
trustee would, in the opinion of the Bank, have a materially adverse effect upon
the operations, business, property, assets, financial condition or credit of the
Borrower, as the case may be. 

                  8.1.10 Repudiation of Documents. If Borrower repudiates,
contests, revokes or purports to revoke any of its obligations to Bank, or any
rights or remedies of Bank, under Documents to which they are party.

         8.2      Acceleration of Indebtedness, Remedies. Upon the occurrence of
an Event of Default, all Indebtedness shall be due and payable in full
immediately (without notice or demand in the case of an Event of Default of the
type described in Section 8.1.6 above, and upon written notice from Bank in the
case of any other Event of Default) without presentation, demand, protest,
notice of dishonor or other further notice of any kind, all of which are hereby
expressly waived, and Bank shall have no further commitment to make Advances.
Unless all of the Indebtedness is then immediately fully paid, the Bank shall
have and may exercise any one or more of the rights and remedies for which
provision is made for a secured party under the UCC, under the or for which
provision is provided by law or in equity, including, without limitation, the
right to take possession and sell, lease or otherwise dispose of any or all of
the Collateral and to set off against the Indebtedness any amount owing by the
Bank to the Borrower and/or any property of the Borrower in possession of the
Bank. The Borrower agrees, upon request of the Bank, to assemble the Collateral
and make it available to the Bank at any place designated by the Bank.

         8.3      Application of Proceeds. All of the Indebtedness shall
constitute one loan secured by the Bank's security interest in the Collateral
and by all other security interests, mortgages, liens, claims, and encumbrances
now and from time to time hereafter granted from the Borrower to the Bank. Upon
the occurrence of an Event of Default which is not cured within the cure period,
if any, provided under Section 8.1, the Bank may in its sole discretion apply
the Collateral to any portion of the Indebtedness. The proceeds of any sale or
other disposition of the Collateral authorized by this Agreement shall be
applied by the Bank, first upon all expenses authorized by the UCC or otherwise
in connection with the sale and all reasonable attorneys' fees and legal
expenses incurred by the Bank, the balance of the proceeds of such sale or other
disposition shall be applied in the payment of the Indebtedness, first to
interest, then to principal, then to other Indebtedness and the surplus, if any,
shall be paid over to the Borrower or to such other Person or Persons as may be
entitled thereto under applicable law. The Borrower shall remain liable for any
deficiency, which the Borrower shall pay to the Bank immediately upon demand.



                                      -24-
<PAGE>   26

         8.4      Cumulative Remedies. The remedies provided for herein are
cumulative to the remedies for collection of the Indebtedness as provided by
law, in equity or by any Document. Nothing herein contained is intended, nor
shall it be construed, to preclude the Bank from pursuing any other remedy for
the recovery of any other sum to which the Bank may be or become entitled for
the breach of this Agreement by the Borrower.

                                   SECTION 9.
                                  MISCELLANEOUS

         9.1      Independent Rights. No single or partial exercise of any
right, power or privilege hereunder, or any delay in the exercise thereof, shall
preclude other or further exercise of the rights of the parties to this
Agreement.

         9.2      Covenant Independence. Each covenant in this Agreement shall
deemed to be independent of any other covenant, and an exception illegality in
one covenant shall not create an exception or illegality another covenant.

         9.3      Waivers and Amendments. No forbearance on the part of the Bank
in enforcing any of its rights under this Agreement or any other Document, nor
any renewal, extension or rearrangement of any payment or covenant to be made or
performed by the Borrower hereunder, shall constitute a waiver of any of the
terms of this Agreement or of any such right. No Default or Event of Default
shall be waived by the Bank except in a writing signed and delivered by an
officer of the Bank, and no waiver of any other Default or Event of Default
shall operate as a waiver of any Default or Event of Default or of the same
Default or Event of Default on a future occasion. No other amendment,
modification or waiver of, or consent with respect to, any provision of this
Agreement or any Note or other Documents shall be effective unless the same
shall be in writing and signed and delivered by an officer of the Bank.

         9.4      Governing Law. This Agreement, and each and every term and
provision hereof, shall be governed by and construed in accordance with the
internal law of the State of Michigan. If any provisions of this Agreement shall
for any reason be held invalid or unenforceable, such invalidity or
unenforceability shall not affect any other provision hereof, but this Agreement
shall be construed as if such invalid or unenforceable provisions had never been
contained herein. Borrower hereby consents to the jurisdiction of the courts of
the State of Michigan and to the Federal Courts which include the Eastern
District of Michigan and their territorial institutions, for all proceedings
relating to the enforcement hereof or any indebtedness hereunder.

         9.5      Survival of Warranties, Etc. All of the Borrower's covenants,
agreements, representations and warranties made in connection with this
Agreement and any document contemplated hereby shall survive the borrowing and
the delivery of the Notes and shall be deemed to have been relied upon by the
Bank, notwithstanding any investigation heretofore or hereafter made by the
Bank. All statements contained in any certificate or other document delivered to
the Bank at any time by or on behalf of the Borrower pursuant hereto or in
connection with the transactions contemplated hereby shall constitute
representations and warranties by the Borrower in connection with this
Agreement.




                                      -25-
<PAGE>   27


         9.6      Costs and Expenses. The Borrower agrees that it will reimburse
the Bank, upon demand, for all reasonable costs and expenses incurred by the
Bank in connection with (i) collecting or attempting to collect the Indebtedness
or any part thereof, (ii) maintaining or defending the Bank's security interests
or liens (or the priority thereof), (iii) the enforcement of the Bank's rights
or remedies under this Agreement or the other documents contemplated hereby,
(iv) the preparation or making of any amendments, modifications, waivers or
consents with respect to this Agreement or the other documents contemplated
hereby, and/or (v) any other matters or proceedings arising out of or in
connection with any lending arrangement between the Bank and the Borrower, which
costs and expenses include without limit payments made by the Bank for taxes,
insurance, assessments, or other costs or expenses which the Borrower is
required to pay under this Agreement or the other documents contemplated hereby,
expenses related to the examination of the Collateral, audit expenses, court
costs and reasonable attorneys' fees (whether in-house or outside counsel is
used, whether legal assistants are used, and whether such costs are incurred in
formal or informal collection actions, federal bankruptcy proceedings, probate
proceedings, on appeal or otherwise), and all other costs and expenses of the
Bank incurred in connection with any of the foregoing.

         9.7      Payments on Saturdays, Etc. Whenever any payment to be made
hereunder shall be stated to be due on a Saturday, Sunday or any other day which
is not a Business Day, such payment may be made on the next succeeding Business
Day, and such extension, if any, shall be included in computing interest in
connection with such payment.

         9.8      Binding Effect. This Agreement shall inure to the benefit of
and shall be binding upon the parties hereto and their respective successors and
assigns, provided, however, that the Borrower may not assign or transfer its
rights or obligations hereunder without the prior written consent of the Bank.

         9.9      Maintenance of Records. The Borrower will keep all of its
records concerning its business operations and accounting at its principal place
of business. The Borrower will give the Bank prompt written notice of any change
in its principal place of business, or in the location of its records.

         9.10     Notices. All notices and communications provided for herein or
in any Document contemplated hereby or required by law to be given shall be in
writing (unless expressly provided to the contrary) and, if personally
delivered, effective when delivered at the address below or, in the case of
mailing, effective two (2) days after sending by first class mail, postage
prepaid, addressed as follows: (a) If to the Borrower, to: 301 Commerce, Suite
3600, Fort Worth, Texas 76012, Attention: Thomas White, V.P. Finance, and (b) if
to the Bank, to: Comerica Bank, 500 Woodward Avenue, Detroit, Michigan 48226,
Attention: _________________________, or to such other address as a party shall
have designated to the other in writing in accordance with this section. The
giving of at least five (5) days notice before the Bank shall take any action
described in any notice shall conclusively be deemed reasonable for all
purposes, provided, that this shall not be deemed to require the Bank to give
five day notice or any notice if not specifically required in this Agreement.

         9.11     Interest and Charges. It is not the intention of any parties
to this Agreement to make an agreement in violation of the laws of any
applicable jurisdiction relating to usury. Regardless of any provision in this
Agreement, Bank shall ever be entitled to receive, collect or apply, as interest
on the Obligations, any amount in excess of the Legal Rate. If any Bank ever
receives, collects or applies, as interest, any such excess, such amount which
would be excessive interest shall be deemed a partial repayment of principal and
treated hereunder as such; and if principal is paid in full, any remaining
excess shall be paid to the Borrower. In determining whether or not the interest
paid or payable, under any specific contingency, exceeds the Legal Rate, the
Borrower and the Bank shall, to the maximum extent permitted under applicable
law, (a) characterize any nonprincipal payment as an expense, fee or premium
rather than as interest, (b) exclude voluntary prepayments and the effect
thereof, and (c) amortize, prorate, 


                                      -26-
<PAGE>   28

allocate and spread in equal parts, the total amount of interest throughout the
entire contemplated term of the Indebtedness so that the interest rate is
uniform throughout the entire term of the indebtedness; provided; however, that
if the Indebtedness are paid and performed in full prior to the end of the full
contemplated term thereof, and if the interest received for the actual period of
existence thereof exceeds the Legal Rate, the Bank shall refund to the Borrower
the amount of such excess or credit the amount of such excess against the total
principal amount of the Indebtedness owing, and in such event, the Bank shall
not be subject to any penalties provided by any Applicable Law for contracting
for, charging or receiving interest in excess of the Legal Rate. This Section
shall control every other provision of all agreements pertaining to the
transactions contemplated by or contained herein.

         9.12     Confidentiality. Bank agrees (on behalf of itself and each of
its affiliates, directors, officers, employees and representatives) to use
reasonable precautions to keep confidential, in accordance with customary
procedures for handling confidential information of this nature and in
accordance with safe and sound banking practices, any non-public information
supplied to it by the Borrower pursuant to this Agreement which is identified by
the Borrower as being confidential at the time the same is delivered to Bank,
provided that nothing herein shall limit the disclosure of any such information
(a) to the extent required by applicable law, (b) to counsel for bank, (c) to
bank examiners, auditors or accountants of any Bank, (d) in connection with any
liquidation to which any one Bank is a party, provided, further, that, unless
specifically prohibited by applicable law or court order, Bank shall, prior to
disclosure thereof, notify the Borrower of any request for disclosure of any
such non-public information (i) by any governmental authority or representative
thereof (other than any such request in connection with an examination of such
Bank's financial condition by such Governmental authority), or (ii) pursuant to
legal process, or (e) to any assignee or participant (or prospective assignee or
participant) so long as such recipient of such confidential information agrees
to keep such information confidential.

         9.13     Counterparts. This Agreement may be signed in any number of
counterparts with the same effect as if the signatures were upon the same
instrument.

         9.14     Headings. Article and section headings in this Agreement are
included for the convenience of reference only and shall not constitute a part
of this Agreement for any purpose.

         9.15     WAIVER OF JURY TRIAL. THE BORROWER AND THE BANK HEREBY
IRREVOCABLY WAIVE THE RIGHT TO TRIAL BY JURY WITH RESPECT TO ANY AND ALL ACTIONS
OR PROCEEDINGS AT ANY TIME IN WHICH THE BORROWER AND THE BANK ARE PARTIES
ARISING OUT OF THIS AGREEMENT OR THE OTHER DOCUMENTS.

         IN WITNESS WHEREOF, the Borrower and the Bank have caused this
Agreement to be executed by their duly authorized officers as of the day and
year first written above.


                          PAWNMART, INC.

                          By:/s/ Thomas W. White
                             ---------------------------------------------------
                          Its: Vice President - Finance/Chief Accounting Officer
                               -------------------------------------------------

                          COMERICA BANK

                          By:/s/ Barry T. Carroll
                             ---------------------------------------------------
                          Its: Vice President
                               -------------------------------------------------





                                      -27-
<PAGE>   29

                                   EXHIBIT "A"
                                 REVOLVING NOTE


$10,000,000                                                    Detroit, Michigan
                                                                October 13, 1998

         FOR VALUE RECEIVED, on or before the Maturity Date, PAWNMART, INC., a
Delaware corporation promises to pay to the order of COMERICA BANK, a Michigan
banking corporation ("Bank") at its main office at One Detroit Center, Detroit,
Michigan, in lawful money of the United States of America so much of the
principal sum of TEN MILLION DOLLARS ($10,000,000) as shall have been advanced
and then be outstanding hereunder and all the accrued and unpaid interest
thereon.

         Capitalized terms used herein and not defined to the contrary have the
meanings given them in the Revolving Credit Agreement of even date herewith
between the undersigned and Bank ("Agreement") to which reference is hereby
made.

         Interest on the Advances from time to time outstanding shall bear
interest at their Applicable Interest Rates; provided, however, that in the
event and so long as there shall exist an Event of Default, the principal
balance from time to time outstanding shall bear interest at the rates provided
in Section 11.12 of the Agreement. Interest shall be computed on the basis of a
360 day year and assessed for the actual number of days elapsed.

         This Note is note under which advances, repayments and readvances may
be made subject to the terms and conditions of the Agreement. This Note
evidences borrowing under, is subject to, is secured in accordance with, and may
be matured under, the terms of the Agreement, to which reference is hereby made.
As additional security for this Note, Company grants Bank a lien on all property
and assets including deposits and other credits of the Company, at any time in
possession or control of or owing by Bank for any purpose.

         Company hereby waives presentment for payment, demand, protest and
notice of dishonor and nonpayment of this Note and agrees that no obligation
hereunder shall be discharged by reason of any extension, indulgence, release,
or forbearance granted by any holder of this Note to any party now or hereafter
liable hereon or any present or subsequent owner of any property, real or
personal, which is now or hereafter security for this Note. Any transferees of,
or endorser, guarantor or surety paying this Note in full may succeed to all
rights of Bank, and Bank shall be under no further responsibility for the
exercise thereof or the loan evidenced hereby. Nothing herein shall limit any
right granted Bank by other instrument or by law.

         This Note shall be governed by and construed in accordance with the
laws of the State of Michigan.


                          PAWNMART, INC.

                          By:/s/ Thomas W. White
                             ---------------------------------------------------

                          Its: Vice President - Finance/Chief Accounting Officer
                               -------------------------------------------------


<PAGE>   30



                                   EXHIBIT "B"
                                REQUEST FOR LOAN


         The undersigned authorized officer of PAWNMART, INC. ("Borrower")
hereby submits this Request for Loan to COMERICA BANK ("Bank") pursuant to
Section 2.2 of the Revolving Credit Agreement ("Agreement") dated October 13,
1998 between Company and Bank.

         Capitalized terms used herein and not defined to the contrary have
meanings given them in the Agreement.
Company: (a) requests an Advance under the Note in the amount of
$____________________ to be made on _______________, 199_____, (b) certifies
that all of the conditions for the Advance requested hereby under the Agreement,
are satisfied as of the date hereof and shall be satisfied as of the date for
the requested Advance, and (c) directs Bank to disburse proceeds of the Advance
requested hereby as follows:


--------------------------------------------------------------------------------

--------------------------------------------------------------------------------
                                                                            .(1)
----------------------------------------------------------------------------

         Executed as of this _____ day of ____________________, 199_____.



                                 PAWNMART, INC.


                                 By:
                                    --------------------------------------------

                                 Its:
                                     -------------------------------------------

----------

  (1)   If request is for the renewal or conversion of an existing Advance,
identify Advance to be converted by Applicable Interest Rate and Interest
Period.