Document:

EXHIBIT 10.10
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                                PLEDGE AGREEMENT

         PLEDGE AGREEMENT made as June 4, 2002, by and between Jon R. Latorella,
a Massachusetts resident ("Latorella"), and Gemstone Investment Company, Inc.
("Secured Party").

         IN CONSIDERATION OF A LOAN TO BE MADE BY THE SECURED PARTY IN FAVOR OF
LOCATEPLUS HOLDINGS CORPORATION (THE "BORROWER"), OF WHICH LATORELLA HOLDS A
MAJORITY OF THE VOTING CAPITAL STOCK, AND FOR OTHER CONSIDERATION, THE RECEIPT
AND SUFFICIENCY OF WHICH IS HEREBY ACKNOWLEDGED, ALL AS PROVIDED IN A CERTAIN
LOAN AGREEMENT OF EVEN DATE HEREWITH (ANY SUCH AGREEMENT OR NOTE IN EFFECT FROM
TIME TO TIME BEING HEREINAFTER REFERRED TO AS THE "LOAN AGREEMENT"), IT IS
HEREBY AGREED AS FOLLOWS:

         SECTION 1. GRANT OF SECURITY INTEREST. As security for all obligations
of the Borrower to the Secured Party described in Section 2 below, Latorella
hereby delivers and pledges to the Secured Party, and grants to the Secured
Party a security interest in and lien on 5,000,000 shares of Latorella's Class A
Voting Common Stock, par value $.01 (the "Class A Shares"), together with all
dividends, interest, distributions, accessions, additions and substitutions
therefor, thereto or thereon and the proceeds and products of all the foregoing
(collectively, the "Collateral"). All stock certificates included in the
Collateral have been duly endorsed or are or will be accompanied by stock powers
duly executed in blank by Latorella as the registered owner of such stock
certificates.

         SECTION 2. OBLIGATIONS SECURED. The Collateral from time to time held
hereunder shall secure the payment and performance of all liabilities and
obligations of Borrower to Secured Party, whether such liabilities and
obligations be direct or indirect, absolute or contingent, secured or unsecured,
due or to become due, primary or secondary, now existing or hereafter arising or
acquired, whether or not arising under this Agreement or evidenced by any
writing, including the obligations of the Borrower under the Loan Agreement
(collectively, the "Obligations").

         SECTION 3. REPRESENTATIONS AND WARRANTIES. Latorella hereby represents
and warrants to the Secured Party that:

                  (A) Latorella is the legal and beneficial owner of and has
         good title to all of the Collateral, free and clear of any claim,
         mortgage, pledge, lien, security interest or other encumbrance of any
         nature whatsoever, except to or in favor of the Secured Party
         hereunder; and

                  (B) As to any Collateral consisting of shares of stock (the
         "Pledged Shares"), Latorella is the record owner thereof, and all of
         such shares have been duly and validly issued and are fully paid and
         non-assessable and any such registered bonds have been duly and validly
         issued.

         SECTION 4. ISSUANCE OR SALE OF COLLATERAL. Latorella hereby covenants
and agrees that, except as consented to by the Secured Party in writing,
Latorella will not directly or indirectly sell, assign, pledge or otherwise
encumber or dispose of the Collateral or any interest therein; and

         SECTION 5. VOTING RIGHTS OF LATORELLA. Provided that no Event of
Default (as defined in Section 3 of the Loan Agreement) shall have occurred and
be continuing, for so long as Latorella shall be the record owner of the
Collateral, he shall be entitled, to
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the extent permitted by applicable law, to exercise voting power with respect to
any Pledged Shares; PROVIDED, HOWEVER, that in no event shall he exercise such
voting power in any manner contrary to or inconsistent with the terms hereof or
with the terms of the Loan Agreement.

         SECTION 6. DISTRIBUTION ON LIQUIDATION, STOCK DIVIDENDS, ETC. In the
event that the Secured Party is dissolved, wound up, liquidated or reorganized,
whether in bankruptcy, insolvency or receivership proceedings, or upon an
assignment by Secured Party for the benefit of creditors, any sum to be paid or
any property to be distributed upon or with respect to any Collateral shall be
paid over to the Secured Party to be held by it as collateral security for the
Obligations. In the event that any stock dividend shall be declared on any of
the Collateral, or any shares of stock or fractions thereof shall be issued
pursuant to any stock split involving any of such stock, or any property of any
kind shall be distributed upon or with respect to any of such stock pursuant to
any recapitalization, reclassification, merger, consolidation, or reorganization
of the capital of the issuing corporation, the shares or other property so
distributed shall be delivered to the Secured Party, to be held by the Secured
Party as part of the Collateral.

         SECTION 7. DIVIDENDS, VOTING RIGHTS, ETC. ON DEFAULT. If an Event of
Default shall occur and be continuing, the Secured Party, for so long as said
Event of Default shall continue to exist, shall be entitled to receive and
retain as collateral security for the Obligations any and all dividends and
other distributions at any time and from time to time declared upon or paid with
respect to any of the Collateral and to exercise any and all voting rights and
all rights of payment, conversion, exchange, subscription or any other rights,
privileges or options pertaining to the Collateral as if the Secured Party were
the absolute owner thereof, including, without limitation, the right to
exchange, at the discretion of the Secured Party any and all of the Collateral
upon any merger, consolidation, reorganization, recapitalization or other
readjustment of the issuing corporation, and upon the exercise of any such
right, privilege or option pertaining to the Collateral, to deposit and deliver
any and all of the Collateral with any committee, depositary, transfer agent,
registrar or other designated agency upon such terms and conditions as the
Secured Party may determine, all without liability except to account for
property actually received by the Secured Party; PROVIDED, HOWEVER, that the
Secured Party shall have no duty to Latorella to exercise any of the aforesaid
rights, privileges or options and shall not be responsible for any failure or
delay with respect to the exercise of any such rights, privileges or options.

         SECTION 8. DEFAULT. If an Event of Default shall occur, then, upon the
occurrence of any such Event of Default or at any time or times thereafter,
unless such Event of Default shall have been waived in writing by the Secured
Party, the Secured Party shall have all of the rights and remedies of a secured
party under the Uniform Commercial Code of Massachusetts and shall have full
power and authority to sell or otherwise dispose of the Collateral or any part
thereof, and to vote the Pledged Shares with respect to any and all matters. Any
such sale or other disposition, subject to the provisions of applicable law, may
be by public or private proceedings and may be made by one or more contracts, as
a unit or in parcels, at such time and place, by such method, in such manner and
on such terms as the Secured Party may determine. Except as required by law,
such sale or other disposition may be made without advertisement or notice of
any kind or to any person. Where reasonable notification of the time or place of
such sale or other disposition is required by law, such requirement shall have
been met if such notice is telegraphed, cabled or mailed, postage prepaid, at
least five days before the time of such sale or other disposition to each person

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entitled thereto at each such person's address (which in the case of Latorella
is as specified in Section 15 below). The Secured Party or any other holder of
the Obligations may buy any or all Collateral so purchased shall be held by the
purchaser absolutely free from any claims or rights of whatsoever kind or
nature, including any equity of redemption or any similar rights, all such
equity of redemption any similar rights being hereby expressly waived and
released by Latorella to the extent permitted by applicable law. In the event
any consent, approval or authorization of any governmental agency shall be
necessary to effectuate any such sale or sales, Latorella shall execute, as
necessary, all applications or other instruments as may be required. After
deducting all reasonable costs and expenses of collection, custody, sale or
other disposition or delivery (including legal costs and reasonable attorneys'
fees) and all other charges due with respect to the Collateral (including any
charges of the type described in Section 10 below), the residue of the proceeds
of any such sale or other disposition shall be applied to the payment of the
Obligations in such order of priorities as is determined at the time by the
Secured Party except as otherwise required by law or directed by any court
purporting to have jurisdiction thereof, and any surplus shall be returned to
Latorella, except as otherwise provided by law. Latorella shall be liable for
any deficiency.

LATORELLA RECOGNIZES IT MAY NOT BE POSSIBLE OR FEASIBLE FOR SECURED PARTY TO
EFFECT A PUBLIC SALE OF ALL OR A PART OF THE COLLATERAL BY REASON OF RULE 144
PROMULGATED UNDER THE SECURITIES ACT OF 1933, AS AMENDED, AND APPLICABLE STATE
SECURITIES LAWS, AND THAT SECURED PARTY MAY BE COMPELLED TO RESORT TO ONE OR
MORE PRIVATE SALES TO A RESTRICTED GROUP OF PURCHASERS WHO WILL BE OBLIGED TO
AGREE, AMONG OTHER THINGS, TO ACQUIRE SUCH COLLATERAL FOR THEIR OWN ACCOUNT FOR
INVESTMENT AND NOT WITH A VIEW TO THE DISTRIBUTION OR RESALE THEREOF. LATORELLA
AGREES THAT PRIVATE SALES SO MADE MAY BE AT A PRICE AND ON OTHER TERMS LESS
FAVORABLE TO THE SELLER THAN IF SUCH COLLATERAL WERE SOLD AT PUBLIC SALES, AND
THAT THE SECURED PARTY HAS NO OBLIGATION TO DELAY THE SALE OF ANY SUCH
COLLATERAL FOR THE PERIOD OF TIME NECESSARY TO PERMIT THE SAME TO BE REGISTERED
FOR PUBLIC SALE UNDER THE SECURITIES ACT OF 1933 OR ANY APPLICABLE STATE
SECURITIES LAWS. LATORELLA FURTHER AGREES THAT SALES MADE UNDER THE FOREGOING
CIRCUMSTANCES SHALL NOT BE DEEMED TO HAVE BEEN MADE IN A COMMERCIALLY
UNREASONABLE MANNER BY VIRTUE OF ANY SALE BEING MADE ON TERMS LESS FAVORABLE TO
THE SELLER THAN A PUBLIC SALE DUE TO THE PRIVATE NATURE OF THE SALE. Subject to
the foregoing, the Secured Party agrees that any sale of the Collateral made by
the Secured Party shall be made in a commercially reasonable manner.

         SECTION 9. TRANSFER OF PLEDGED STOCK AND OTHER COLLATERAL. Latorella
hereby irrevocably appoints the Secured Party as agent of Latorella to arrange
for any and all transfers of the Collateral as the Secured Party may from time
to time deem advisable to assist the Secured Party in obtaining the benefit of
the Secured Party's security interest therein, including, but not limited to,
the transfer of the Collateral into the name of the Secured Party or its nominee
at any time, the foregoing appointment being deemed a power coupled with an
interest.

         SECTION 10. PAYMENT OF TAXES, CHARGES, ETC. The Secured Party, at its
option, may discharge any taxes, charges, assessments, security interests, liens
or other encumbrances upon the Collateral and otherwise take such actions and
incur or pay such expenses as Secured Party deems necessary or advisable to
protect the value of the Collateral. Any such expenditures incurred by the
Secured Party shall bear interest at a rate per annum which shall at all times
be equal to the 10% per annum from the date incurred to the date of payment, and
shall be secured by the Collateral.

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         SECTION 11. DUTIES WITH RESPECT TO COLLATERAL. The Secured Party shall
have no duty to Latorella with respect to the Collateral other than the duty to
use reasonable care in the safe custody of any Collateral in its possession.
Without limiting the generality of the foregoing, the Secured Party, although it
may do so at its option, shall be under no obligation to Latorella to take any
steps necessary to preserve rights in the Collateral against other parties.

         SECTION 12. SECURED PARTY'S RIGHTS AND REMEDIES NOT EXCLUSIVE. All of
the Secured Party's rights and remedies on the Obligations or the Collateral,
whether evidenced hereby or by any other agreement, instrument or paper, shall
be cumulative and may be exercised singly or concurrently, and nothing herein
shall be deemed to limit in any way any rights the Secured Party might otherwise
have under any other instrumentor by law, including, without limiting the
generality thereof, the right to negotiate any note or other instrument together
with any collateral specifically described therein.

         SECTION 13. WAIVERS BY LATORELLA. Latorella (A) waives presentment,
notice, protest, notice of acceptance of this Agreement, notice of any loans
made, extensions granted, collateral received or delivered or other action taken
in reliance hereon and all demands and notices of every kind in connection with
the delivery, acceptance, performance, default or enforcement of this Agreement,
the Collateral or the Obligations, including without limitation any and all
rights to judicial hearing in advance of the enforcement of any of the Secured
Party's rights hereunder, (B) assents to any one or more renewals, extensions or
postponements of the time of payment of any of the Obligations or any other
indulgence with respect thereto, to any acquisition, substitution, exchange or
release of collateral therefor and to the addition or release of any person
primarily or secondarily liable thereon, to the acceptance of partial payment
and the settlement, compromise, adjustment or discharge of any thereof, all in
such manner and at such time or times as Secured Party may deem advisable, (C)
agrees to the provisions of any instrument, security or other writing evidencing
any of the Obligations, and (D) shall not assert any right arising from the
discharge of any of the Obligations through realization upon Collateral or from
other payment or performance hereunder until all of the Obligations shall have
been paid, performed and fulfilled.

         SECTION 14. TERMINATION. The Obligations of Latorella under this
Agreement shall continue regardless of any reduction or increase in the
Obligations until all Collateral has been either applied thereto or returned to
Latorella. The Secured Party shall, upon written request therefor by Latorella,
return the Collateral to Latorella at any time after the payment in full of all
Obligations.

         SECTION 15. NOTICES. All notices and other communications hereunder
shall be deemed to have been sufficiently given when mailed, postage prepaid by
certified or registered mail, return receipt requested,

         if to the Secured Party, to:   [_____________________]

         if to Latorella, to:           Jon R. Latorella
                                        c/o LocatePLUS Holdings Corporation
                                        100 Cummings Center
                                        Suite 235M
                                        Beverly, Massachusetts 01915

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or at such other address as the party to whom such notice or demand is directed
may have designated in writing to the other party hereto in the manner provided
above.

         SECTION 16. RIGHTS, AMENDMENTS AND WAIVERS. No course of dealing
between Latorella and the Secured Party, nor any delay in exercising, on the
part of the Secured Party, any right, power or privilege hereunder, shall
operate as a waiver thereof; nor shall any single or partial exercise of any
right, power or privilege. Secured Party may exercise its rights with respect to
the Collateral without resorting or regard to other collateral or sources of
reimbursement for the Obligations. No amendment, modification, consent or waiver
of any provision of this Agreement or of any of the rights of Secured Party
hereunder or with respect to the Obligations or the Collateral shall be
effective unless in a writing executed by Secured Party, and then such
amendment, modification, consent or waiver shall be effective only in the
specific instance and for the purpose for which given. No notice or demand on
Latorella in any case shall entitle Latorella to any other or further notice or
demand in similar or other circumstances, or constitute a waiver of any right of
Secured Party to take action without notice or demand. To the extent permitted
by applicable law, Latorella waives its right to trial by jury with respect to
this Agreement and all rights to require Secured Party to elect among any of its
remedies with respect to this Agreement or any other collateral for or sources
of payment of the Obligations.

         SECTION 17. CONSENT TO JURISDICTION; GOVERNING LAW; MISCELLANEOUS.
Latorella hereby submits to the jurisdiction of the courts of the Commonwealth
of Massachusetts and the United States District Court for the District of
Massachusetts, as well as to the jurisdiction of all courts to which an appeal
may be taken or other review sought from the aforesaid courts, for the purpose
of any suit, action or other proceeding arising out of any of Latorella's
obligations under or with respect to this Agreement, expressly waives any and
all objections it may have as to venue in any of such courts, and agrees that
service of process may be made by mailing a copy of the summons to Latorella at
its address as set forth in Section 15 of this Agreement. Whenever possible each
provision of this Agreement shall be interpreted in such manner as to be
effective, valid and enforceable under applicable law. The provisions of this
Agreement are severable, however, and if any of the provisions of this Agreement
shall be held by any court of competent jurisdiction to be unenforceable, such
holding shall not affect or impair any other provision hereof or, to the extent
not invalidated, the effect of aid unenforceable provisions in other
jurisdictions. This Agreement shall take effect as a sealed instrument and inure
to the benefit of the Secured Party and its successors and assigns and shall be
binding upon Latorella and the heirs, executors, administrators, other legal
representatives, successors and assigns of Latorella. This Agreement and all the
rights and remedies of the Secured Party and Latorella shall be determined as to
their validity, construction, effect and enforcement by the laws of the
Commonwealth of Massachusetts, notwithstanding Massachusetts' choice of law
rules to the contrary.

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IN WITNESS WHEREOF, Latorella has caused this Pledge Agreement to be duly
executed as of the date first set forth above.

                                               /s/ Jon R. Latorella
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                                               Jon R. Latorella, individually

     ACCEPTED:

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                                        6EXHIBIT 10.11
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                         MORTGAGE AND SECURITY AGREEMENT
                         -------------------------------

Date:                  June 4, 2002

Address of
Mortgaged Property:    The land and any improvements thereon at 104 King George
                       Drive, Boxford, Massachusetts more particularly described
                       in the attached EXHIBIT A.

Mortgagor:             Jon R. Latorella

Mortgagor's
Address:               104 King George Drive, Boxford, Massachusetts

Mortgagee:             Gemstone Investment Company, Inc.

Mortgagee's
Address:               370 Main Street
                       Worcester, Massachusetts 01608

Loan Amount:           $750,000 advanced to LocatePLUS Holdings Corporation
                       ("LocatePLUS"), a Delaware corporation of which the
                       Mortgagor owns a majority of its voting capital stock,
                       and Mortgagor's guarantee of even date herewith.

First Mortgage:        Mortgage from Mortgagor to Winterhill Federal Saving Bank
                       and senior lienholders ("First Mortgagee").

         The Mortgagor, FOR CONSIDERATION PAID, GRANTS to the Mortgagee, with
MORTGAGE COVENANTS to secure (a) the payment of the Loan Amount or such greater
amount as may be due, at the time, in the manner and with interest, all as
provided in a certain note of even date from LocatePLUS (the "Note"), and (B)
the performance of all covenants and agreements in the Note and this Mortgage,
the real estate described in the attached EXHIBIT A (the "Land");

         Together with all buildings, improvements, equipment and fixtures now
or subsequently thereon and all materials intended for construction,
reconstruction, alteration and repair thereof and all fixtures and articles of
personal property now or subsequently attached to or used in connection
therewith; and any replacements thereof or additions thereto (together with the
Land, the "Mortgaged Property"); and

         Together with the rents, income, profits, accounts receivable from
tenants of the Mortgaged Property, contract rights, general intangibles, chattel
papers, bills, notes, acceptances, equities, moneys, claims of the Mortgaged
Property to the extent of Mortgagor's interest therein or any business conducted
thereon to the extent of Mortgagor's interests therein. All of the foregoing,
together with the Mortgaged Property, are referred to as the Security.

         Mortgagor grants to Mortgagee a security interest in the
above-described fixtures and Security and agrees that Mortgagee shall have with
respect thereto (in addition to all other rights
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and remedies hereunder), all rights and remedies of a secured party under the
Massachusetts Uniform Commercial Code.

     Mortgagor covenants and agrees with the Mortgagee as follows:

     1.  To cause the Note to be paid pursuant to its terms;

     2.  To cause the payment and observation, prior to the expiration of any
grace periods, any and all terms, covenants and conditions of this Mortgage and
the First Mortgage and any prior or superior mortgage of the Mortgaged Property
and any note or obligations which it secures;

     3.  To cause the payment prior to the time when interest starts to accrue
all taxes, charges, assessments and all water and sewer charges assessed on the
Mortgaged Property or on any interest therein, and to deliver to Mortgagee
evidence of payment of real estate taxes promptly after each payment date and
evidence of payment of all other charges, assessments and water and sewer
charges forthwith upon Mortgagee's written request;

     4.  To keep the Mortgaged Property in good repair, order, and condition,
and not to commit or suffer any strip or waste thereof or any violation of any
law or ordinance affecting the same or the use thereof (any such use prohibited
or enjoined by any public official or court being conclusively deemed a
violation for purposes of this mortgage), or any act thereon tending to harm the
Mortgaged Property whether or not such act may constitute waste;

     5.  Subject to the rights of the First Mortgagee, (A) to keep the buildings
now or subsequently on the Land insured against fire and such other hazards as
the holder may from time to time require for their full replacement value, and
(B) to obtain and keep in force policies of liability insurance naming the
holder as an insured in such amounts as the holder may from time to time
require, all policies of such insurance or certificates thereof (including
evidence of renewal of and payment for such policies at least 10 days prior to
their expiration) to be deposited with the holder, if the holder so requires,
and first payable in case of loss to the holder subject to the rights of any
prior mortgagee and to be written by such companies, on such terms, in such form
and for such periods and amounts as the holder shall from time to time require
(hereby irrevocably granting to the holder, in the event of foreclosure, full
authority as Mortgagor's true and lawful attorney-in-fact, coupled with an
interest, with full power of substitution, to cancel such insurance and retain
the return premiums thereof or to transfer such insurance to any person or
persons claiming title to the Mortgaged Property or any part thereof by virtue
of foreclosure proceedings);

     6.  Subject to the rights of the First Mortgagee, that if the Mortgaged
Property, or any part thereof, shall be damaged by fire or other hazard, the
proceeds of any contract of insurance shall, to the extent of the indebtedness
then remaining unpaid, be paid to the holder, and, at its option, may be applied
in whole or in part to the payment of the debt secured hereby or to the cost of
repairing or rebuilding of the Mortgaged Property, PROVIDED that if the
proceeds, plus any amount which Mortgagor elects to pay to the holder for such
purpose, is in the holder's reasonable belief adequate to repair or rebuild the
Mortgaged Property, then holder shall permit the amounts held by it to be
advanced to Mortgagor on a monthly basis, as the work or repair or rebuilding
proceeds, to reimburse Mortgagor for the value of completed work, as certified
by an architect or engineer reasonably acceptable to the holder;

     7.  Subject to the rights of the First Mortgagee, in case of a taking of
the Mortgaged Property or any part thereof by any public authority pursuant to
the power of eminent domain, the proceeds of all judgments and awards of damages
and of all settlements made by the

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parties in interest shall be paid to the holder, and, at its option, may be
applied in whole or in part to the payment of the debt secured hereby or the
holder may release the same to the owner of the Mortgaged Property;

     8.  To keep, observe and satisfy all the obligations on the part of the
lessor to be kept, performed and satisfied under every lease from time to time
in force with respect to the Mortgaged Property; and at any time upon notice
from the holder to submit for examination all leases then in force affecting the
Mortgaged Property; and Mortgagor hereby assigns to the holder, subject to the
rights of the holder of any prior mortgage, any or all of such leases, and rents
and profits thereof, provided that until a default shall exist under this
mortgage, the Note or any other agreement securing the mortgage debt, Mortgagor
may collect and retain any rent and profits; and Mortgagor covenants to execute
and deliver such additional instruments in form reasonably satisfactory to the
holder as the holder may request from time to time to evidence or carry out such
assignment (hereby irrevocably granting to the holder full authority as
Mortgagor's true and lawful attorney-in-fact, coupled with an interest, with
full power of substitution, to make, execute, acknowledge and deliver such
instruments);

     9.  Not to contract for the payment of nor accept rents for periods of more
than one month in advance; and to deliver to the holder within fifteen (15) days
after written demand therefor a detailed statement certified by Mortgagor
setting forth the rents and profits received from the Mortgaged Property for the
period specified in such demand, the disbursements made for said period, and the
names of all tenants of the Mortgaged Property, and, if requested by the holder,
to furnish to the holder within forty-five (45) days after the end of each
calendar year during the term of this mortgage a statement of annual income and
expenses with respect to the Mortgaged Property certified by a certified public
accountant;

     10. Not to purchase any equipment, fixtures or materials now or
subsequently used in connection with or becoming a part of the realty whether by
agreement of the parties or otherwise which are subject to a security interest
in favor of others unless the prior written consent thereto has been obtained
from the holder; which consent shall not be unreasonably withheld;

     11. To permit the holder or the holder's representative to examine the
Mortgaged Property at any reasonable time;

     12. If this mortgage, by its terms, is now, or at any time, subject or
subordinate to a prior mortgage or mortgages, to comply with the terms of such
prior mortgage or mortgages, the holder thereof having the right to cure any
default under a prior mortgage and to add to the debt secured by this mortgage
the reasonable costs of curing such default;

     13. On the request of the holder, to furnish a written statement, signed
and, if requested, acknowledged, setting forth the amount of the indebtedness
which the Mortgagor acknowledges to be due on the Note and under this mortgage,
specifying any claims of offset or defense which the Mortgagor asserts against
the indebtedness secured hereby or any obligations to be paid or performed
hereunder, and the then state of facts relative to the condition of the
Mortgaged Property;

     14. On the request of the holder to furnish a written list of all fixtures
and other articles of personal property (tangible and intangible) located on the
Land and to execute any and all statements and instruments which may be
necessary or appropriate to maintain or perfect the holder's security interest
hereunder (hereby irrevocably granting to the holder full authority as
Mortgagor's true and lawful attorney-in-fact, coupled with an interest, with
full power of substitution, to make, execute, acknowledge and deliver such
statements and instruments);
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<PAGE>
     15. In case any default in any covenant or condition of this mortgage shall
occur, and shall continue for more than 30 days after written notice thereof
from the holder to the Mortgagor, or if any default shall occur under the Note,
which is not cured within any applicable grace period, then, in either case, the
entire mortgage debt shall become due at the option of the holder; the holder
shall have the right to enter immediately upon and take possession of the
Mortgaged Property without consent of the owner thereof and without the
commencement of any action to foreclose this mortgage; the holder shall have the
further right, with or without such possession, to collect and receive all
rents, issues, and profits arising out of or in connection with the Mortgaged
Property and to apply the same (after the payment of all necessary charges and
expenses in connection with the operation of the Mortgaged Property, including
any managing agent's commission) toward any sums due the holder under the terms
hereof and of the Note; and the holder, to cure such default, may apply any
deposits or any sums credited by or due from the holder to Mortgagor (without
being first required to enforce any other rights of the holder against
Mortgagor, or against the Mortgaged Property);

     16. In the event that title to the Mortgaged Property becomes vested in
anyone other than Mortgagor, the entire mortgage debt shall, at the option of
the holder, become due and payable on demand; however, the holder may without
notice to the Mortgagor deal with such successor in interest with reference to
this mortgage, the Mortgaged Property and the debt hereby secured, in the same
manner as with Mortgagor, without in any way discharging the liability of the
Mortgagor or of any endorser or guarantor under the mortgage or upon the debt
hereby secured;

     17. No forbearance on the part of the holder, and no change, modification
or extension, whether oral or in writing, of the time or manner for the payment
of the whole or any part of the debt hereby secured or change in the interest
rate on said debt or any other indulgence given by the holder to any persons
other than Mortgagor, shall operate to release or in any manner affect the
original liability of Mortgagor or of any endorser or guarantor, notice of any
such change, modification, extension, or indulgence being waived;

     18. In case of a foreclosure sale, the holder shall be entitled to retain
one percent of the purchase money, in addition to the costs, charges, and
expenses incurred by the holder or allowed under the Statutory Power of Sale; in
the event of redemption prior to foreclosure sale, the holder shall be entitled
to add its costs and expenses to the principal sum secured hereby;

     19. That the holder is authorized: to pay all taxes, charges, assessments,
and water and sewer charges with interest, costs and charges accrued thereon,
which may at any time be a lien upon the Mortgaged Property or any part thereof;
to pay the premiums for any policies of insurance required hereunder; to incur
and pay reasonable expenses in protecting its rights hereunder and the security
hereby granted including, without limitation, expenses for repairs to the
Mortgaged Property and attorneys' fees in connection with the enforcement or
protection of any right or interest of the holder hereunder and under the Note;
to pay any sums and incur any expenses required to be made or necessary to cure
any defaults under any prior mortgage or encumbrance; to pay any sums required
in order to obtain a discharge of any security interest of others in any
equipment, fixtures, or materials comprising part of the Mortgaged Property, all
in the event that such payments have not been made by Mortgagor as herein
provided; and to add all amounts so paid to the principal sum secured hereby;
and to apply to any of the foregoing purposes or to the repayment of any amounts
so paid by the holder any sums held hereunder by Mortgagee;

     20. The holder in the exercise of the power of sale herein given may sell
the entire Mortgaged Property or any part thereof, in any order, as elected by
the holder in its sole

                                       -4-
<PAGE>
discretion; and in case the holder elects to sell in parcels, the sales of such
parcels may be held from time to time and the power shall not be exhausted until
all of the Mortgaged Property not previously released shall have been sold;

         The word "holder" shall be construed as descriptive of Mortgagee and of
any subsequent holder or holders hereof; the word "Mortgagor" shall be construed
as descriptive of Mortgagor and of any subsequent owner or owners of the equity
of redemption of the Mortgaged Property; and all of the covenants and agreements
of Mortgagor are joint and several and shall be binding upon the heirs,
executors, administrators, successors and assigns of Mortgagor.

         This MORTGAGE is upon the STATUTORY CONDITION, and upon the further
condition that all covenants and agreements of Mortgagor herein and in the Note
contained shall be kept and fully performed, for any breach of which the holder
hereof shall have, with respect to the real property, the STATUTORY POWER OF
SALE, and as to the personal property all the remedies of a Secured Party under
the Uniform Commercial Code as now in effect in Massachusetts.

         Executed under seal on the date first above written.

                                        --------------------------------------
                                        Jon R. Latorella

                          COMMONWEALTH OF MASSACHUSETTS

_______________, ss.                                     _______________, 20__

         Then personally appeared the above-named ___________________ and
acknowledged the foregoing instrument to be ________ free act and deed, before
me.

                                               --------------------------------
                                               Notary Public

                                               My Commission Expires:

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

                                       -5-

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