Document:

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                                                                    EXHIBIT 10.3

                           LISTINGS LICENSE AGREEMENT

         THIS LISTINGS LICENSE AGREEMENT (the "Agreement") dated this 5th day of
August, 2003 by and among CENDANT CORPORATION, a Delaware corporation with an
office located at 9 West 57th Street, 37th Floor, New York, New York 10019
("Cendant") and HOMESTORE, INC., a Delaware corporation with an office located
at 30700 Russell Ranch Road, Westlake Village, California 91362 (collectively
with its affiliates, successors and assigns, "Homestore").

                              W I T N E S S E T H:

         WHEREAS, Cendant is the parent of the franchisors (the "Franchisors"),
respectively, of the CENTURY 21(R), ERA(R) and COLDWELL BANKER(R) real estate
brokerage franchise systems and the owner of NRT Incorporated (collectively, the
"Systems"); and

         WHEREAS, Homestore maintains one or more web sites on the Internet that
provide to consumers, inter alia, access to real estate listings and other
information regarding real estate opportunities; and

         WHEREAS, a dispute has arisen between Cendant, including certain
Cendant subsidiaries, and Homestore, including certain Homestore subsidiaries,
concerning the October 26, 2000 Agreement and Plan of Reorganization (the
"Reorganization Agreement") between the parties; and

         WHEREAS, on August 5, 2003, Cendant, Homestore and other related
parties executed a Settlement Agreement and Release ("Settlement Agreement")
resolving the dispute concerning the Reorganization Agreement pursuant to which,
among other things, Cendant and Homestore agreed to execute this Agreement;

         WHEREAS, pursuant to the Settlement Agreement, Homestore desires to
obtain from Cendant the Listing Data and Broker Agent Data (as defined in the
Master Operating Agreement executed as of October 26, 2000, which hereinafter
shall be referred to as the "Master Operating Agreement") compiled by or on
behalf of a Cendant Party from time to time during the term of this Agreement,
(except to the extent that Homestore obtains Listings and Broker Agent
Information pursuant to any MLS Agreement (as hereinafter defined)), and Cendant
desires to provide the Listing Data to Homestore for display on the Sites as
additional advertising exposure for the Listings; and,

         WHEREAS, notwithstanding any expiration or termination of the Master
Operating Agreement (and solely for reference and definition purposes with
respect to this Agreement), all capitalized terms not otherwise defined herein
shall have the meanings set forth in the Master Operating Agreement, which
meanings shall survive any such expiration or termination.

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         NOW, THEREFORE, in consideration of the promises and covenants
contained herein and other good and valuable consideration, the receipt of which
is hereby acknowledged, the parties hereto agree as follows:

         Section 1. TERM. The term of this Agreement (the "Term") shall commence
on August 5, 2003 and shall terminate at the close of business on December 31,
2040, unless earlier terminated in accordance with the terms herein set forth.

         Section 2. LICENSE.

         (a)      Non-Exclusive License. Subject to the terms and conditions of
this Agreement (including, but not limited to the restrictions set forth in
Section 2(f) hereof), Cendant hereby grants to Homestore, during the Term, a
non-exclusive, fully paid-up, royalty-free license to (i) use, cache and
reproduce the Listing Data and Broker Agent Data for public distribution,
transmission and display, (ii) modify and translate the Listing Data and Broker
Agent Data for distribution, transmission and display, (iii) excerpt, summarize,
aggregate and display the Listing Data and Broker Agent Data for marketing and
advertising purposes, and (iv) use the Listing Data and Broker Agent Data in
connection with the distribution of the Listing Data and Broker Agent Data for
Electronic Display, and to do all of the foregoing solely through or on the
Homestore Listing Sites, the Homestore Site, the Realtor Site, or through or on
any other website on which REALTOR.com(R) listings are, from time to time,
displayed (collectively, the "Sites"). The aforementioned license grant is
restricted to use of the Listing Data and Broker Agent Data, but may be viewed
on a worldwide basis. Homestore shall have the right, but not the obligation, to
so utilize the Listing Data and Broker Agent Data at the Sites during the Term.
Cendant's obligations with respect to its licensing of the Listing Data and
Broker Agent Data to Homestore does not represent a guaranty or warranty that
Cendant will provide to Homestore any and all Listing Data and Broker Agent
Data, but only that Cendant will use reasonable efforts to provide (or make
available) to Homestore such Listings Data and Broker Agent Data to the extent
that Homestore is unable (despite reasonable efforts) to obtain the information
contained in such Listing Data and Broker Agent Data from an MLS. Homestore
shall not, except for the use of Listings Data and Broker Agent Data for
Electronic Display, have any right to sublicense to any other parties or third
parties the rights granted in this Section 2(a) without Cendant's prior written
consent, which consent shall be given or withheld at Cendant's sole discretion
and election. Subject to the terms and conditions of this Agreement (including,
but not limited to the restrictions set forth in Section 2(f) hereof), Homestore
shall have the further right, at its own expense, to modify or have modified the
Listing Data and Broker Agent Data to make such Listing Data and Broker Agent
Data reasonably consistent with the look and feel of the Sites and the editorial
and technical standards of Homestore as they may exist from time to time.
Homestore shall not, without Cendant's prior written consent, remove broker
identifying information that may appear on, in, or with the Listings Data and
Broker Agent Data; provided, however, Homestore may remove marks or logos of
third parties where Homestore has evidenced to Cendant in writing that Homestore
shall forever release and hold harmless Cendant from and against any and all
liability with respect to such removal. In addition, Homestore shall reproduce
such broker identifying

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information on any reproductions or copies that may be authorized pursuant to
this Section 2(a). To the extent that Homestore displays the Listing Data and
Broker Agent Data that is provided by Cendant, Homestore agrees to update the
Listing Data and Broker Agent Data displayed by Homestore promptly upon
receiving updated Listing Data and Broker Agent Data from Cendant (and/or any
related Listings from MLS) and agrees that, with each subsequent update of the
Listing Data and Broker Agent Data (and/or related Listings) displayed by
Homestore, the license shall terminate with respect to any obsolete or modified
information previously provided by Cendant as part of the Listing Data and
Broker Agent Data. Notwithstanding the foregoing, it shall be the responsibility
of Homestore (and Cendant shall have no obligation or liability) to reconcile
the Listing Data and Broker Agent Data with information on Listings received
from any MLS or other sources, and Homestore shall not be obligated to
incorporate other information provided by Cendant on any Listing Data or Broker
Agent Data to the extent Homestore has received the same information from
another source. Nothing in this Section 2(a) shall prohibit Homestore from
obtaining Listings or Broker Agent Information from any MLS or other third party
sources so long as such MLS and those other third party sources have the right
to provide said Listings or Broker Agent Information to Homestore.

         (b)      Listings Content Provided "As Is". Homestore acknowledges and
agrees that Cendant is providing the Listing Data or Broker Agent Data to
Homestore "As Is" without any warranties, either express or implied, whatsoever
with respect to the Listing Data or Broker Agent Data (including, without
limitation, any implied warranty of merchantability or fitness for a particular
purpose), its quality, quantity, substance, accuracy, and/or timeliness.

         (c)      Listings Delivery. During the Term, Cendant shall use
reasonable efforts to deliver the Listing Data or Broker Agent Data (or a
portion thereof, if reasonably requested by Homestore) to Homestore in the
format(s) and through the transfer protocol(s) that Cendant then-currently uses
to provide similar listing data to its other customers (or as otherwise agreed
to in writing by the parties), which Listing Data or Broker Agent Data shall be
provided one (1) time per day unless otherwise agreed to by the Parties in
writing.

         (d)      No Referral Fees. Homestore agrees that in no event will
Homestore attempt to charge a fee to Cendant (including its affiliates,
successors or assigns) or any Franchisee of Cendant in connection with the
Listing Data and/or any use, display, reproduction, or transfer thereof, other
than in connection with Homestore's provision of products or services to such
person pursuant to an agreement directly between such person and Homestore,
without the prior consent of Cendant, which consent shall be given or withheld
at Cendant's sole discretion and election. This Section 2(d) shall be deemed a
continuing obligation and shall survive and remain in full force and effect for
a period of three (3) years after termination or expiration of this Agreement.
Notwithstanding the above, Homestore represents and warrants that it believes
that pursuant to its current operating agreement with the National Association
of Realtors ("NAR") or any other current agreement between Homestore and NAR,
Homestore is

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effectively precluded from charging real estate brokers and real estate sales
associates a referral fee for any customer referrals made by Homestore to real
estate brokers or real estate sales associates.

         (e)      Multiple Listing Service ("MLS") Agreement. Nothing contained
in this Agreement shall be deemed to prohibit Homestore from obtaining Listing
Data, Listings, Broker Agent Information or Broker Agent Data pursuant to any
agreement Homestore may have with an MLS or any other third party aggregator of
residential real estate brokerage listings not affiliated with Cendant. Should
Cendant become in Control of any MLS or any other third party aggregator of
residential real estate brokerage listings in the future that has an agreement
with Homestore, Cendant will honor any such agreement to which it is a successor
in interest, until either (i) the applicable MLS or other third party aggregator
agreement expires or (ii) there is a Change of Control of Homestore pursuant to
which Homestore is Controlled by an Excluded Business or, Homestore is no longer
the operator of the official website of the National Association of Realtors,
whichever occurs first. For purposes of this provision, the phrase "Excluded
Business" shall mean any person or entity of any type that competes directly
with any business that is encompassed in the Cendant Real Estate Division at the
time of such Change of Control. For purposes of this provision, "Cendant Real
Estate Division" shall mean the businesses operated by Coldwell Banker Real
Estate Corporation, Century 21 Real Estate Corporation, ERA Franchise Systems,
Inc., NRT Incorporated, Cendant Mortgage Corporation and Cendant Mobility
Services Corporation including their respective subsidiaries. For the purposes
of this Agreement, the term "MLS" means any entity, facility or operation for
which real estate brokerage participants have consented to the delivery or
exchange of their real property listing, sale or rental information that has
generally been established for real estate brokerages and/or real estate
appraisal participants in order to facilitate the orderly accumulation and
dissemination of a database of real property listing, sale or rental information
among such participants and whereby offers of cooperation are made among the
brokerage participants with respect to real property listings. The term MLS
shall not include Virtual Office Websites as the phrase "Virtual Office
Websites" is defined by general industry standards; provided, however, MLSs that
use or assist their participants in using Virtual Office Websites shall not be
excluded from the definition of "MLS."

         (f)      Notwithstanding the license rights set forth in Section 2(a)
hereof, Homestore shall not, directly or indirectly, and shall not encourage any
other person to, directly or indirectly, either alone or in concert with any
other person, use, reproduce, distribute, transmit, display, modify, translate,
create excerpts from, summarize, or aggregate the Listing Data or Broker Agent
Data in any manner that results in an inaccurate representation of the Listing
Data or Broker Agent Data made available by Cendant or that otherwise undermines
the intent of this Agreement.

         Section 3. INSURANCE. (a) Commencing on the date of this Agreement and
continuing through the earlier of December 31, 2040 or a period of not less than
six (6) months after the termination of this Agreement, Homestore will (at no
additional cost to Cendant) secure and maintain the following policies of
insurance:

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         (i)     Comprehensive general liability insurance on an occurrence
                 basis (including the following types of coverage: independent
                 contractors, contractual, products and completed operations,
                 and broad form property damage) with combined single limits of
                 not less than Four Million Dollars ($4,000,000) per occurrence
                 and aggregate annual limits of not less than Ten Million
                 Dollars ($10,000,000) (it being acknowledged that such coverage
                 limit need not be in excess of the foregoing amount);

         (ii)    Contractual Liability Insurance in an amount not less than one
                 million dollars ($1,000,000.00) per occurrence, subject to the
                 aggregate annual limit described in 3(i) above;

         (iii)   Professional Liability and Errors and Omissions Liability
                 Insurance covering acts, errors, omissions, and
                 equipment/machine malfunctions arising out of Homestore's (or
                 its agents') operations or services in an amount not less than
                 five million dollars ($5,000,000.00)] per occurrence, with an
                 annual aggregate limit of not less that ten million
                 ($10,000,000.00)(it being acknowledged that such coverage limit
                 need not be in excess of the foregoing amount); and

         (iv)    Crime Insurance (including Fidelity Bond, Employee Dishonesty,
                 and Computer Fraud Coverage) covering losses arising out of or
                 in connection with any fraudulent or dishonest acts committed
                 by Homestore's (or its agents') personnel, acting alone or with
                 others, with an aggregate limit of not less than one million
                 dollars ($1,000,000.00) per year.

         Homestore represents that Cendant and its affiliates and their
respective officers, directors, employees and agents shall be included as
additional insureds and shall be primary for all purposes. All policies shall be
endorsed with a statement that the coverage may not be canceled, altered or
permitted to lapse or expire without thirty (30) days advance written notice to
Cendant, that the coverage shall be primary and that any insurance carried by
Cendant or its affiliates shall be non-contributory to such coverage. The names
of Homestore and Cendant as identified in the policies shall be identical to the
names of Homestore and Cendant as identified in this Agreement. If an umbrella
policy is used to satisfy any required coverage of this Section 3, such policy
shall be at least "Follow-Form" with the requirements described in this Section
3 and not limit the coverage of any other policies used to provide coverage
under this Section 3.

         (b)      Simultaneously with the execution of this Agreement, and each
time a change is made in any insurance policy described in Section 3(a) above
(including, without limitation, a change in the carrier of any such policy),
Homestore will furnish to Cendant a certificate of insurance evidencing the
applicable insurance coverages in effect and the corresponding named insured and
additional insureds, and endorsed with a statement that the coverage may not
canceled, altered or permitted to lapse or expire without thirty (30) days'
advance written notice to Cendant. Failure to demand such

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certificates or other evidence of full compliance with these insurance
requirements or failure of Cendant to identify a deficiency from evidence that
is provided, shall not be construed as a waiver of obligation to maintain such
insurance.

         (c)      All policies required by this Agreement shall be written by
insurance carriers rated "A" or better by A.M. Best. No "cut through"
endorsements shall be acceptable. All policies shall provide that the insurer
waives any right of subrogation against Cendant. By requiring insurance as
provided in this Section, Cendant does not represent that coverage and limits
will be necessarily adequate to protect Cendant and its affiliates, and their
officers, directors, employees and agents, and such limits shall not be deemed
as a limitation of Homestore's liability under this Agreement.

         Section 4. INDEMNIFICATION & LIMITATION OF LIABILITY.

         (a)      Indemnification By Cendant. Cendant shall indemnify, defend,
and hold harmless each of Homestore and its Affiliates and the directors,
officers, and employees of Homestore and such Affiliates and the successors and
assigns of any of the foregoing (the "HOMESTORE INDEMNITEES"), from and against
any and all liabilities (including, but not limited to, actions under or related
to the Fair Housing Act), damages, settlements, claims, actions, suits,
penalties, fines, costs or expenses (including, without limitation, reasonable
attorneys' fees and other expenses of litigation) incurred by any Homestore
Indemnitee, arising from or occurring as a result of any claim, action, suit or
other proceeding brought by third parties against a Homestore Indemnitee arising
out of or resulting from: (i) any claim of any violation or misappropriation of
a third party's Intellectual Property Rights in connection with Cendant-owned
Data (if any) provided to Homestore hereunder or Cendant Intellectual Property
Rights, or (ii) any breach of Cendant's representations and warranties under
this Agreement, or (iii) any inaccuracies in the Listing Data that are knowingly
introduced by a Cendant Party with willful misconduct or gross negligence, and
with the intent to cause harm and/or damage, or (iv) any breach by Cendant of
its obligations set forth in Section 12 hereof. Notwithstanding the foregoing,
Cendant shall have no obligation under this Section 4(a) with respect to
liabilities, damages, settlements, claims, actions, suits, penalties, fines,
costs or expenses, to the extent the same is caused by the gross negligence or
willful misconduct of a Homestore Indemnitee.

         (b)      Indemnification By Homestore. Homestore shall indemnify,
defend, and hold harmless each of the Cendant Parties and the Affiliates and the
directors, officers, and employees of Cendant, the Cendant Parties and such
Affiliates and the successors and assigns of any of the foregoing (the "CENDANT
INDEMNITEES"), from and against any and all liabilities (including, but not
limited to, actions under or related to the Fair Housing Act), damages,
settlements, claims, actions, suits, penalties, fines, costs or expenses
(including, without limitation, reasonable attorneys' fees and other expenses of
litigation) incurred by any Cendant Indemnitee, arising from or occurring as a
result of any claim, action, suit, or other proceeding brought by (A) third
parties against a Cendant Indemnitee arising out of or resulting from (i) any
claim of any violation or misappropriation of a third party's Intellectual
Property Rights in connection with the

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Homestore Intellectual Property Rights, or (ii) any breach of Homestore's
representations and warranties under this Agreement, or (iii) any use of the
Listing Data pursuant to this Agreement, or (iv) any breach by Homestore of its
obligations set forth in Sections 2(f), 9, and 12, hereof, or (B) any Cendant
Indemnitee against Homestore arising out of or resulting from any breach by
Homestore of its obligations and/or restrictions set forth in Sections 2(a),
2(d), 9, and 12 hereof. Notwithstanding the foregoing, Homestore shall have no
obligation under this Section 4(b) with respect to liabilities, damages,
settlements, claims, actions, suits, penalties, fines, costs or expenses, to the
extent the same is caused by the gross negligence or willful misconduct of a
Cendant Indemnitee.

         (c)      A Party (for purposes of this Section 4, the "INDEMNITEE")
that intends to claim indemnification under any provision of this Agreement
shall promptly notify the indemnifying Party (the "INDEMNITOR") in writing of
any claim, action, suit, or other proceeding brought in respect of which the
Indemnitee or any of its Affiliates, or their directors, officers, employees,
successors or assigns intend to claim such indemnification hereunder. As between
the Parties hereto, the Indemnitor shall have the right to control the defense
and settlement of such claim, action, suit or other proceeding; provided, that
the Indemnitee shall have the right to participate in such defense or settlement
with counsel of its own choosing at its expense. The Indemnitee shall reasonably
cooperate with the Indemnitor hereunder as reasonably requested and at the
Indemnitor's expense. Notwithstanding the foregoing, the indemnity agreement in
this Section 4 shall not apply to amounts paid in settlement of any loss, claim,
damage, liability or action if such settlement is effected without the consent
of the Indemnitor, to the extent such consent is not withheld or delayed
unreasonably. An Indemnitor shall not enter into any settlement which requires
the Indemnitee to admit to any culpability or liability, or obligates the
Indemnitee to pay any amounts or agree to any form of injunctive relief, without
the Indemnitee's prior written consent, which consent shall not be unreasonably
withheld or delayed. The failure to deliver written notice to the Indemnitor
within a reasonable time after the commencement of any such action, if
prejudicial to its ability to defend such action, shall relieve such Indemnitor
of any liability to the Indemnitee under Section 4 that would have otherwise
been mitigated or eliminated but for such failure to deliver timely notice, but
the omission so to deliver written notice to the Indemnitor shall not relieve
the Indemnitor of any liability that it may have to any Indemnitee otherwise
than under Section 4. The Parties shall keep each other fully informed of the
progress of any claim, action, suit, or other proceeding regarding an
indemnification claim made under this Section 4.

         (d)      Limitation of Liability. EXCEPT AS OTHERWISE PROVIDED BELOW IN
THIS SECTION 4(D), NEITHER PARTY TO THIS AGREEMENT SHALL BE LIABLE TO THE OTHER
PARTY FOR CONSEQUENTIAL, INCIDENTAL, PUNITIVE, OR INDIRECT DAMAGES (INCLUDING,
BUT NOT LIMITED TO, LOST PROFITS OR LOST SAVINGS) ARISING FROM, RELATING TO, OR
IN CONNECTION WITH THIS AGREEMENT, EVEN IF SUCH PARTY HAD BEEN ADVISED OF THE
POSSIBILITY OF OR COULD HAVE FORESEEN SUCH DAMAGES. THIS LIMITATION OF LIABILITY
APPLIES REGARDLESS OF THE FORM OF ACTION, WHETHER IN

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CONTRACT, TORT, OR OTHERWISE. THE LIMITATIONS OF LIABILITY SET FORTH ABOVE IN
THIS SECTION 4(D) SHALL NOT APPLY TO LOSSES OR DAMAGES AGAINST WHICH THE PARTIES
HAVE AGREED TO INDEMNIFY EACH OTHER PURSUANT TO SECTIONS 4(A) AND 4(B) OF THIS
AGREEMENT.

         (e)      EXCEPT AS EXPRESSLY SET FORTH IN THIS SECTION 4, EACH PARTY
EXPRESSLY DISCLAIMS ANY FURTHER OBLIGATION TO INDEMNIFY, DEFEND OR HOLD HARMLESS
THE OTHER PARTIES FROM ANY CLAIMS OR LOSSES ARISING HEREUNDER.

         Section 5. ACKNOWLEDGEMENTS. (a) Homestore acknowledges that, except
for NRT, Cendant and the Franchisors are franchisors and not the owners or
operators of real estate brokerage offices and that the information contained in
the Listing Data is provided to Cendant by the Franchisees. Notwithstanding
anything to the contrary contained in this Agreement, except as provided below,
Homestore acknowledges that the Franchisees may use the information in the
Listing Data freely and that Cendant cannot restrict the Franchisees' use of
such information. No such use of the information contained in the Listing Data
by a Franchisee shall constitute a violation by Cendant of this Agreement.

         (b)      Cendant shall not, directly or indirectly, and shall not
encourage any other person to, directly or indirectly, take any action, either
alone or in concert with any other person, designed to (i) reduce the quality,
quantity, substance, accuracy (if any), or timeliness of Listings, Listings
Data, Broker Agent Information or Broker Agent Data available to Homestore from
any MLS, any Cendant Party, any Franchisee of a Cendant Party, any other source
Controlled by any Cendant Party, or any other source wholly owned by one or more
Franchisees of any Cendant Party (as the terms "Franschisee" and "Controlled"
and the phrase "Cendant Party" or Cendant Parties" are defined in the Master
Operating Agreement) so long as such person remains a Cendant Party, a
Franchisee of a Cendant Party, Controlled by any Cendant Party, or wholly owned
by one or more Franchisees of a Cendant Party or (ii) otherwise undermine the
intent of this Agreement. Clause (i) of the preceeding sentence shall be deemed
a continuing obligation and shall survive and remain in full force and effect
for a period of three (3) years after termination or expiration of this
Agreement. Notwithstanding the foregoing, Homestore acknowledges that Cendant is
the parent corporation of numerous affiliates (e.g., Cendant Mobility Services
Corporation) that engage in the ordinary course of business in activities
ancillary to their core businesses that may overlap with the license rights
contained in the provisions of this Agreement, and Homestore acknowledges that
such activities by such affiliates shall not constitute a violation of this
Agreement. Homestore agrees that nothing in this Agreement shall be deemed to
prohibit Cendant from recommending to its Brands' Franchisees (as the terms
"Brand" and "Franchisee" are defined in the Master Operating Agreement) that
they provide the Listings Data, Broker Agent Information or Broker Agent Data to
other MLSs or other third party aggregators of real estate information (e.g.
Yahoo, Homefinders, etc.), so long as such recommendation does not affect
Homestore's access to data from any source.

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         Section 6. TERMINATION.

         Cendant may, with or without cause and at Cendant's option and in
Cendant's complete and sole discretion, terminate this Agreement and revoke the
licenses granted pursuant to Section 2 hereof upon providing Homestore with
ninety (90) days written notice of Cendant's intent to terminate this Agreement
and revoke the licenses. Nothing in this Section 6 shall prohibit Homestore from
obtaining the Listings, Listing Data, Broker Agent Information or Broker Agent
Data from any MLS or other third party sources so long as the MLS and/or those
other third party sources have the right to provide said information or data to
Homestore. The provisions of Section 2(d) and Section 5(b) shall survive
termination and expiration of this Agreement as provided therein.

         Section 7. COVENANT NOT TO PROMOTE. During the first two (2) years of
this Agreement, or until this Agreement is terminated pursuant to Section 6
above, whichever occurs first, or unless otherwise agreed to in a separate
writing or agreement between the parties, Cendant will not promote to the
Coldwell Banker, Century 21 or ERA brokers or agents any product that competes
with Homestore's iLead agent web page, iLead office products or any of its
successor products. Notwithstanding the foregoing, Cendant and its Brands may
offer (for sale, at no charge, or otherwise) personal profile pages on its
and/or their national websites. In addition (and notwithstanding the foregoing
or anything contained in the Master Operating Agreement or any other agreement
between the parties prior to the effective date of this Agreement), Cendant and
its Brands shall be permitted to aggregate Listings via third party links from
its and/or their national websites to its or their local websites and to the
Metro websites of NRT Incorporated (which entity Cendant recently acquired
through one of its subsidiaries).

         Section 8. REPRESENTATIONS. (a) Each party has full power and authority
and has been duly authorized, to enter into and perform its obligations under
this Agreement, all necessary approvals of any Board of Directors, shareholders,
partners, co-tenants and lenders having been obtained. The execution, delivery
and performance of this Agreement by each party will not violate, create a
default under or breach of any charter, bylaws, agreement or other contract,
license, permit, indebtedness, certificate, order, decree or security instrument
to which such party or any of its principals is a party or is subject. Neither
party is the subject of any current or pending dissolution, receivership,
bankruptcy, reorganization, insolvency, or similar proceeding on the date this
Agreement is executed by such party and was not within the three (3) years
preceding such date. The persons signing this Agreement on behalf of each party
personally represent and warrant to the other party that they are authorized to
execute this Agreement for and on behalf of such party and have full authority
to so bind such party.

         (b)      Cendant also represents and warrants that: (1) the provision
of any Cendant-owned Data that may be provided to Homestore hereunder does not
violate any rights of any third parties, including, but not limited to, such
violations as infringement or misappropriation of any applicable copyright,
patent, trademark, trade secret, or other

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intellectual property right, (2) the Listing Data (in the form and content
provided by Cendant) shall not include content that is defamatory; (3) as of the
Effective Date, the provision of any Cendant-owned Data that may be provided to
Homestore under this Agreement does not violate any of applicable law or
regulation, including without limitation, any unfair competition or any
applicable anti-discrimination law; and (4) Cendant has all rights necessary to
deliver to Homestore, the entire contents and subject matter contained in the
Listing Data, and any Cendant or band Marks therein.

         (c)      Homestore also represents and warrants that: (1) Homestore or
its agents shall not introduce into any Listing Data or Broker Agent Data
provided by Cendant hereunder any content or materials which are obscene,
threatening, malicious, libelous, defamatory, scandalous, inflammatory,
pornographic, or profane, (2) Homestore's use of the Listing Data complies with
any and all applicable laws or regulations, and (3) with respect to any
personally identifiable information contained in the Listing Data and Broker
Agent Data, Homestore shall protect such information in accordance with any and
all applicable privacy laws and regulations.

         (d)      EXCEPT AS OTHERWISE EXPRESSLY PROVIDED ABOVE IN THIS SECTION 8
OR ELSEWHERE IN THIS AGREEMENT, NEITHER PARTY MAKES ANY WARRANTIES, EITHER
EXPRESS OR IMPLIED, WITH RESPECT TO THE LISTING DATA AND/OR LICENSES GRANTED
HEREUNDER, INCLUDING (WITHOUT LIMITATION) ANY IMPLIED WARRANTY OF
MERCHANTABILITY, DATA ACCURACY, OR FITNESS FOR A PARTICULAR PURPOSE.

         Section 9. TRADEMARKS. (a) During the Term, Cendant grants, or agrees
to cause its affiliates to grant, as the case may be, to Homestore a limited
license to use the registered Marks in connection with the Data Listing, as set
forth in this Agreement, consistent with the identity standards maintained by
the Systems (which Cendant shall provide to Homestore at regular intervals) and,
if any Mark is to be supplied other than in the form supplied to Homestore as
part of the Data Listing, subject to Cendant's prior approval, in its reasonable
discretion (which approval shall not be unreasonably withheld, conditioned or
delayed), of any such representation of the Marks. Homestore specifically
acknowledges that, except as expressly provided in this Section 9, this
Agreement does not confer upon Homestore any interest in or right to use any
Marks or other substantially similar intellectual property right of Cendant,
Brands, the Franchisors, or their affiliates (collectively referred to as the
"Cendant Intellectual Property Rights") unless Homestore receives the prior
written consent of Cendant which consent Cendant may grant or withhold in its
sole discretion. Homestore further agrees that upon termination of this
Agreement, Homestore shall immediately cease and discontinue all use of the
Cendant Intellectual Property Rights. Further, if Homestore wishes to utilize
the Cendant Intellectual Property Rights in advertising or promotional
materials, it must submit such materials to Cendant for final written approval
before utilizing them, which approval shall not be unreasonably withheld,
conditioned or delayed by Cendant. In no event may Homestore or any affiliated
or associated person or entity utilize the Cendant Intellectual Property Rights
in connection with any products or services other than the Sites.

                                       10

<PAGE>

Homestore and Cendant further acknowledge that, except as provided in Section 2
above and in this Section 9, this Agreement does not create or grant any rights
in Homestore to use any intellectual property rights owned or controlled by any
Franchisee, or their affiliates, nor does Cendant wish to grant any such rights.

         (b)      Cendant specifically acknowledges that this Agreement does not
confer upon Cendant any interest in or right to use any trademark, service mark
or other intellectual property right of Homestore or its affiliates
(collectively referred to as "Homestore Intellectual Property Rights") unless
Cendant receives the prior written consent of Homestore which consent Homestore
may grant or withhold in its sole discretion. Cendant further agrees that upon
termination of this Agreement, Cendant shall immediately cease and discontinue
all use of Homestore Intellectual Property Rights. Further, if Cendant wishes to
utilize Homestore Intellectual Property Rights in advertising or promotional
materials, it must submit such materials to Homestore for final approval which
approval Homestore may grant or withhold in its sole discretion, before
utilizing them. In no event may Cendant or any affiliated or associated person
or entity utilize Homestore Intellectual Property Rights in connection with any
products or services other than as provided under this Section 9(b).

         Section 10. RELATIONSHIP OF PARTIES. Homestore is an independent
contractor. Neither party is the legal representative or agent of, or has the
power to obligate (or has the right to direct or supervise the daily affairs of)
the other or any other party for any purpose whatsoever. Cendant and Homestore
expressly acknowledge that the relationship intended by them is a business
relationship based entirely on and circumscribed by the express provisions of
this Agreement and that no partnership, joint venture, agency, fiduciary or
employment relationship is intended or created by reason of this Agreement.

         Section 11. ASSIGNMENTS. This Agreement may not be assigned by either
party without the prior written consent of the other party, which consent shall
not be unreasonably withheld. Notwithstanding the foregoing, Cendant and/or
Homestore may assign this Agreement to an affiliate or in connection with a
consolidation, merger or sale of substantially all of its assets without the
consent of the other party hereto, provided that such assignee shall assume in
writing all of the obligations hereunder of the assignor. In addition, Cendant
may assign its rights or obligations hereunder to any of its Affiliates.

         Section 12. CONFIDENTIALITY. Each party shall at all times keep
confidential all confidential and proprietary information of the other party
(and, in the case of Cendant, Consultant shall keep confidential all
confidential and proprietary information of Cendant's Affiliates, employees,
franchisees, sales associates, brokers, and customers) which is provided to the
other party (or to which the other party has access) during the Term
("Confidential Information"). Neither party (without the prior written consent
of the other party and/or as otherwise specified in this Agreement) shall use
the other party's Confidential Information for any purpose other than as
specified in this Agreement and for the sole purposes of fulfilling their
respective obligations hereunder, and will not disclose any such Confidential
Information to any third parties. To the extent that Homestore has access to
personally identifiable information (including, but not limited

                                       11

<PAGE>

to, credit card information, social security numbers, and/or account or
financial information, but excluding the Listings Data and Broker Agent Data) of
Cendant's or its Affiliates' employees, franchisees, sales associates, brokers,
or customers, Homestore acknowledges and agrees that such information is highly
confidential and private in nature and agrees to hold such information in the
strictest of confidence, and protect such information, in accordance with
Cendant's privacy policies, the aforementioned confidentiality provisions, and
applicable law. The parties acknowledge that Cendant has provided Cendant's
privacy policies to Homestore as of the date of this Agreement. Further, Cendant
shall provide Homestore with reasonable notice prior to issuing future
modifications to Cendant's privacy policies. Upon termination or expiration of
this Agreement, each party shall (at the other party's option) destroy or return
to the other party all materials containing any Confidential Information of the
other party. In addition, the contents, terms and conditions of this Agreement
shall be kept confidential and may not be disclosed except to the extent such
disclosure is required by applicable law, rule or regulation, legal or judicial
process, or the applicable rules or regulations of the Securities and Exchange
Commission, NASDAQ or any stock exchange on which the securities of Homestore
may be traded.

         Section 13. PARTIAL INVALIDITY. Should any part of this Agreement, for
any reason, be declared invalid, such decision shall not affect the validity of
any remaining portion of this Agreement.

         Section 14. NO WAIVER. No failure or delay in requiring strict
compliance with any obligation of this Agreement (or in the exercise of any
right or remedy provided herein) and no custom or practice at variance with the
requirements hereof shall constitute a waiver or modification of any such
obligation, requirement, right or remedy or preclude exercise of any such right
or remedy or the right to require strict compliance with any obligation set
forth herein. No waiver of any particular default or any right or remedy with
respect to such default shall preclude, affect or impair enforcement of any
right or remedy provided herein with respect to any subsequent default. No
approval or consent of either party shall be effective unless in writing and
signed by an authorized representative of such party, and such party's consent
or approval may be withheld for so long as Homestore is in default of any of its
obligations under this Agreement.

         Section 15. NOTICES. Notices will be effective hereunder when and only
when they are reduced to writing and delivered, by (i) United States first class
mail, postage prepaid, or (ii) by next day delivery service, with proof of
delivery, or (iii) mailed by certified or registered mail, return receipt
requested, to the appropriate party at its address stated below or (iv) to such
person and at such address as may be designated by notice hereunder. Notices
shall be deemed given on the date delivered or date of attempted delivery, if
service is refused.

                                       12

<PAGE>

         Homestore:                                      Cendant:

         HOMESTORE, INC.                        CENDANT CORPORATION
         30700 Russell Ranch Road               9 West 57th Street, 37th Floor
         Westlake Village, California 91362     New York, New York 10019
         Attention: Chief Executive Officer;    Attention: General Counsel
         with a copy to Attention : General
         Counsel

         Section 16. PUBLICITY. Each party shall (a) submit to the other all
advertising, written sales promotions, press releases, and other publicity
matters relating to this Agreement in which the other party's name or mark is
mentioned or which contains language from which a relationship with the other
party may be inferred or implied and (b) not publish or use advertising, sales
promotions, press releases or publicity matters without the other party's prior
written consent. The parties acknowledge that any press release announcing the
transaction contemplated by this Agreement may address the duration of the
transaction. Nothing in the Section 16 shall be deemed to prohibit or otherwise
restrict the Parties from complying with disclosure obligations under applicable
law, rules, regulations or court judicial order.

         Section 17. COUNTERPARTS. This Agreement may be executed in any number
of counterparts, all of which shall be considered one and the same agreement and
shall become effective when one or more counterparts have been signed by all
Parties and delivered to the other Parties. Each Party shall receive a duplicate
original of the counterpart copy or copies executed by it. For purposes hereof,
a facsimile copy of this Agreement, including the signature pages hereto, shall
be deemed to be an original. Notwithstanding the foregoing, the Parties shall
each deliver original execution copies of this Agreement to one another as soon
as practicable following the execution thereof.

         Section 18. MISCELLANEOUS. This Agreement will be construed in
accordance with the laws of the State of New York, except for New York's
conflict of laws principles. Homestore and Cendant consent to the personal
jurisdiction of the courts of the State of New York and the United States
District Court for the Southern District of New York and further waives
objection to venue in any such court in connection with any action to enforce
the provisions of this Agreement, to recover damages or other relief for breach
of default of this Agreement, or otherwise arising under or by reason of this
Agreement. This Agreement is exclusively for the benefit of the parties hereto
and may not give rise to liability to a third party. No agreement between either
party hereto and anyone else is for the benefit of the other party hereto.
Neither party will interfere with contractual relations of the other. The
section headings in this Agreement are for convenience of reference only and
will not affect its interpretation.

This Agreement, together with all instruments, exhibits, attachments and
schedules hereto, constitutes the entire agreement (superseding all prior
agreements and understandings, oral or written) of the parties hereto with
respect to the subject matter hereof and shall not be modified or amended in any
respect except in writing executed by all such parties.

                                       13

<PAGE>

         IN WITNESS WHEREOF, the parties have executed this Agreement as of the
date first stated above.

                                               CENDANT CORPORATION

                                               BY: /s/ C. Patteson Cardwell, IV
                                                   _____________________________
                                                   Title: Senior Vice President,
                                                          Legal

                                               HOMESTORE, INC.

                                               BY: /s/ Michael R. Douglas
                                                   _____________________________
                                                   Title: EVP & General Counsel

                                       14<PAGE>

                                                                    EXHIBIT 10.4

              SOURCE CODE LICENSE & MAINTENANCE SERVICES AGREEMENT

         This Source Code License and Maintenance Services Agreement, effective
the 5th day of August 2003, ("Agreement") by and between Homestore, Inc., a
Delaware corporation, ("Homestore") and Cendant Corporation, a Delaware
corporation, ("Cendant").

         WHEREAS, Homestore, Cendant, and various other parties executed an
Agreement and Plan of Reorganization, dated October 26, 2000, ("APR");

         WHEREAS, on October 26, 2000, the Real Estate Technology Trust, a trust
organized under the laws of New York, and a provider of technology to the
franchisees of Cendant's real estate brands, ("RETT"), NRT Incorporated ("NRT"),
and Homestore executed a Software License Agreement (the "SLA") whereby
Homestore (through its subsidiary, Top Producer) agreed to provide to RETT a
customized version of Homestore's Top Producer Online sales associate and broker
system for integration with RETT's then-current software architecture (such
customized and integrated version of Top Producer Online (as further defined
hereinafter) to be known as "Falcon" (as further defined hereinafter));

         WHEREAS, by subsequent amendment, NRT was eliminated as a party to the
SLA;

         WHEREAS, certain disputes and differences have arisen between Cendant
and Homestore with respect to the APR (the "Dispute");

         WHEREAS, in partial settlement of the Dispute, Homestore desires to
license to Cendant, and Cendant desires to license from Homestore, the Source
Code (as hereinafter defined) to the Top Producer Online and Falcon software
products, in accordance with the terms of this Agreement;

         WHEREAS, in addition to the aforementioned Source Code license,
Homestore desires to provide to Cendant, and Cendant desires to receive from
Homestore, certain maintenance and support services (as hereinafter described)
with respect to the Top Producer Online and Falcon software products, in
accordance with the terms of this Agreement; and

         NOW THEREFORE, for and in consideration of the mutual covenants and
promises hereinafter set forth, the Parties agree as follows:

SECTION 1. CENDANT & CENDANT'S AFFILIATES

                  For the purposes of this Agreement, the term "Cendant" shall
mean Cendant Corporation. For the purposes of this Agreement, the term
"Affiliates" shall mean any and all subsidiaries, affiliates, corporations,
limited liability companies, partnerships, joint

<PAGE>

ventures, firms, associations, businesses, organizations, and/or other entities
that directly or indirectly (either presently or in the future and/or through
one or more intermediaries) control, are controlled by, or are under common
control with, Cendant Corporation (collectively, "Affiliates"). The term
"Affiliates" shall also include any unconsolidated special-purpose entities
created by Cendant, and/or independent persons or entities, in which Cendant
owns or would own more than twenty-five percent (25%) of the outstanding common
stock (or equivalent) if Cendant were to convert any convertible securities that
Cendant owns.

SECTION 2. SOURCE CODE; LICENSE GRANT

         A.       (i) "Source Code" shall mean the human readable embodiment of
the underlying computer programming code for the Top Producer Online and Falcon
software products (including all modules contained therein, data files and
structures, header and include files, macros, object libraries, and programming
tools not commercially available, such as Homestore-created utilities and
compilers, plus any associated interface definition files, scripts used to
control compilation and installation of an executable file, and/or source code
differential comparisons against any aspect of the Top Producer Online and
Falcon software products). Notwithstanding the foregoing, the Source Code shall
not include any third party computer programs that are embedded in the Top
Producer Online and/or Falcon software products, provided, however that, prior
to the effective date of this Agreement, Homestore shall identify to Cendant in
writing any third party programs that are included in (and licensed by Homestore
to Cendant as part of) Top Producer Online and/or Falcon software products but
are excluded from the Source Code.

         (ii)     For purposes of this Agreement, the terms "Top Producer
Online," "Top Producer Online software products," "Falcon," and "Falcon software
products" shall have the meanings ascribed to them in Exhibit B "Top Producer
Online and Falcon Software Products" attached hereto (including any additional
functionality to which the parties may agree in writing).

         B.       License Grant. Homestore hereby grants to Cendant a
nonexclusive, perpetual, irrevocable (except as otherwise set forth
hereinafter), worldwide, enterprise-wide, royalty-free, fully paid-up license to
use, access, reproduce, copy, alter, adapt, modify, maintain (including, but not
limited to, the correction of any defects), support, enhance, improve, update,
display, perform, manufacture, compile (in its original form or as modified by
Cendant) into executable code, and/or create software programs and/or derivative
works based upon, the Source Code (including any and all Source Code
Modifications, as hereinafter defined) to enable Cendant to use the Top Producer
Online and Falcon software products in accordance with the applicable
specifications and only as set forth in the SLA (including any amendments
thereto). The aforementioned license rights shall be limited to Cendant's
business and franchise operations associated with its real estate brands.

                                       2

<PAGE>

         Subject to the usage rights and restrictions set forth above in this
section 2B, Cendant shall be permitted to make, use, and/or access an unlimited
number of copies of the Source Code (including, but not limited to, any software
programs and/or derivative works based on the Source Code) on an unlimited
number of computers (owned, leased, and/or operated by Cendant and/or its
Affiliates) at any of Cendant's and/or its Affiliates' sites or locations
worldwide. With respect to any work and/or data that Cendant is required to
process for or on behalf of its former Affiliates, Cendant also may, at no
additional charge, use the Source Code for or on behalf of such former
Affiliates for a period not to exceed two (2) years after such entity is no
longer an Affiliate of Cendant. Cendant acknowledges that (except as otherwise
provided herein) this Agreement grants it no title or rights of ownership in the
Source Code, and that Homestore shall retain any and all ownership right, title,
and interest in and to the Source Code.

         In addition to the foregoing, Cendant may use its Affiliates and/or
third party contractors or outsourcers in order to copy, alter, adapt, modify,
maintain, support, enhance, improve, update (subject to the restrictions set
forth above in this section 2B), sublicense, compile, and/or create software
programs and/or derivative works based upon, the Source Code for the purposes of
allowing Cendant to maintain, enhance and modify the Source Code in accordance
with Cendant's rights hereunder and/or to perform work for or on behalf of
Cendant with respect to the Source Code and/or the Top Producer Online or Falcon
software products. Cendant shall require any such third party contractors or
outsourcers to sign non-disclosure agreements designed to protect the
confidentiality of the Source Code and/or such software products, and (to the
extent that this Agreement does not grant to Cendant ownership rights in and/or
to any such software programs or derivative works) to assign ownership of any
such software products and derivative works to Homestore.

         For the avoidance of doubt, Cendant acknowledges and agrees that
nothing in this Agreement permits the distribution or licensing by Cendant of
Top Producer Online or Falcon software products to any third party brokers or
agents, including, without limitation, those third party brokers and agents that
participate in the Cendant Mobility Broker Network.

         C.       Source Code Modifications. "Source Code Modifications" shall
mean any updates, enhancements, upgrades, versions, releases, modifications,
extensions, alterations, improvements, error corrections, bug fixes, patches,
and/or other changes to the Source Code made by or on behalf of Homestore during
the Maintenance Period (as defined in Section 3D hereof), which Homestore has
incorporated into (i) general releases of the Top Producer Online and/or Falcon
software products to its other customers, and/or (ii) other non-general releases
made pursuant to the SLA and/or as part of the Services (as hereinafter defined)
performed hereunder by Homestore. In addition, the parties may enter into a
separate written agreement(s) pursuant to which (a) Homestore would provide to
Cendant such other non-general releases requested by Cendant, and (b) the
parties could agree that such non-general releases would be subject to the terms
and conditions set forth in this Agreement with respect to Source Code
Modifications. All Source Code Modifications shall be deemed to be within the
definition of the term

                                       3

<PAGE>

"Source Code," and shall become part of the Source Code licensed by Homestore to
Cendant hereunder. Unless otherwise agreed to in writing between the parties,
all right, title and interest in and to any Source Code Modifications, and all
other derivative works based on the Source Code and created by Homestore, shall
vest with and belong exclusively to Homestore. Notwithstanding the foregoing,
Cendant shall retain any and all right, title, and interest in and to (and there
shall be no restriction on Cendant's right to use any of) Cendant's ideas,
concepts, techniques, know-how, technology, discoveries, forms, menus,
structures, sequences, screens, formulas, designs (collectively, the "Cendant
Ideas"), and/or other Cendant Confidential Information (as hereinafter defined)
which Cendant may provide to Homestore and authorize Homestore to incorporate
(and which Homestore incorporates) into such Source Code Modifications. Cendant
hereby grants to Homestore a nonexclusive, royalty-free, fully paid-up license
and right to use such Cendant Ideas and Cendant Confidential Information during
the Maintenance Period (as hereinafter define) and (unless otherwise agreed to
in writing) solely for the purpose of providing the Source Code Modifications
hereunder. In addition (and unless otherwise specified in writing by Cendant),
Cendant hereby grants to Homestore a nonexclusive, royalty-free, fully paid-up
license and right to incorporate such Cendant Ideas and Cendant Confidential
Information into general public releases of Top Producer Online and Falcon
software products unless otherwise specified in writing by Cendant.

         D.       Delivery & Support. Homestore shall deliver to Cendant, by no
later than August 15, 2003, a copy of the Source Code for the then-current
version of the Top Producer Online and Falcon software products, which Source
Code shall be delivered to Cendant's facility located at 1 Campus Drive,
Parsippany, NJ, and shall be in a format and on a media that is reasonably
acceptable to Cendant. In addition, during the Maintenance Period, Homestore's
Falcon Software Support Staff (as defined in Section 3A hereof) shall provide to
Cendant, as part of the Services (as defined in Section 3A hereof) and at no
additional cost, reasonable assistance (including, but not limited to, telephone
access to a technical support staff) to identify problems and/or answer
questions relating to the use and operation of the Source Code.

         E.       Updated Code. During the Maintenance Period, Homestore shall
provide to Cendant copies of the Source Code Modifications to the Top Producer
Online and Falcon software products ("Updated Code"), which Updated Code shall
be delivered to Cendant either within thirty (30) days after completion of the
Updated Code, or immediately upon Homestore's general release to its other
customers of the revised software products containing the Updated Code,
whichever is earlier. Any and all Updated Code shall become part of the Source
Code licensed by Homestore to Cendant hereunder, and shall be subject to the
license grants described herein.

         F.       Independently Developed Works. Homestore acknowledges and
agrees that, in addition to the license grants described herein (and
notwithstanding anything to the contrary set forth in this Agreement), Cendant
has the unrestricted right independently to create, develop and commercially
exploit (without any restrictions whatsoever) new or different computer programs
or software, the subject matter of which may be substantially similar to the
Source Code, provided that Cendant shall not

                                       4

<PAGE>

incorporate into, nor use for the creation of, such programs or software any
portion(s) of Homestore's Source Code and/or Confidential Information (as
hereinafter defined). Notwithstanding the foregoing or anything in this
Agreement to the contrary, for a period of two (2) years after the date of this
Agreement, neither Cendant nor its Affiliates will develop or promote a product
that competes with the Falcon product in the real estate market or business, so
long as the Falcon product is fully functional in accordance with its
specifications and design.

         G.       Documentation. In addition to the Source Code, Homestore shall
provide to Cendant, at no additional cost, copies of any applicable
specifications, documentation, and other written materials related to the Source
Code (including, without limitation, any related technical specifications,
programmers' comments, flow charts and logic diagrams, schematics, annotations,
and/or similar documentation) in existence as of the effective date of this
Agreement or otherwise developed as part of the Source Code Modifications and/or
Services (collectively, "Documentation"). Homestore grants to Cendant permission
to use and make unlimited copies of all such Documentation. If Homestore
publishes any revised or additional Documentation for the Source Code, Homestore
shall (at no additional cost to Cendant) promptly deliver to Cendant copies of
such revised or additional Documentation.

         H.       Transition of Source Code Maintenance & Support to Homestore.
During the Maintenance Period (and for any longer period as may be agreed upon
in writing between the parties), Cendant may (at its sole option and upon
written notice to Homestore) elect to have Homestore undertake responsibility
for the maintenance and support of the Source Code (including, but not limited
to, the provision of any and all Source Code Modifications), as well as for any
and all customization and other information technology services associated
therewith, as reasonably required and requested from time to time by Cendant.
Such maintenance and support shall be unrelated to, and separate and independent
from, the maintenance and support services described in Section 3 hereof.
Homestore shall, upon receipt of the aforementioned notice from Cendant (and
upon the parties' negotiation of mutually acceptable terms and conditions and
pricing), provide to Cendant all assistance and cooperation reasonably required
by Cendant in order to transfer and transition, in a prompt and smooth manner,
to Homestore responsibility for the provision of such maintenance, support, and
related services, with the objective of allowing Cendant's business operations
with respect to such Source Code (and the associated Top Producer Online and
Falcon software products) to continue without degradation or any material
interruption.

SECTION 3. MAINTENANCE AND SUPPORT SERVICES

         A.       During the Maintenance Period, Homestore shall (1) provide to
Cendant any and all enhancements, updates (i.e., releases or versions of the
software that contain error corrections and bug fixes), upgrades (i.e., releases
or versions of the software that contain functional enhancements or extensions),
and/or modifications to the Top Producer Online and Falcon software products
that are generally made available to Homestore's customers, which enhancements,
updates, upgrades, and modifications shall be delivered to Cendant either within
thirty (30) days after completion thereof, or

                                       5

<PAGE>

immediately upon Homestore's general release thereof to its other customers,
whichever is earlier, and (2) make available to Cendant (subject to the
provisions set forth in Section 3F hereof) the equivalent of five (5) full-time
employees (collectively, the "Falcon Software Support Staff") who shall be
responsible for providing to Cendant the maintenance and support services
described in this Agreement (including, without limitation, in Exhibit A
attached hereto). The efforts described above in Sections 3A(1) and 3A(2) shall
be known collectively as, the "Services". During the Maintenance Period
specified in Section 3D hereof (and so long as Cendant remains current on the
applicable maintenance and support fees described in Section 3E hereof), Falcon
Software Support Staff shall, as part of the Services, use commercially
reasonable efforts to: (i) provide Cendant with such assistance as reasonably
necessary to cause the software products to perform in accordance with the
applicable specifications, documentation, user manuals, SLA requirements, the
service levels set forth in Exhibit A attached hereto, and any other Cendant
requirements set forth in this Agreement; (ii) maintain such software products
in operable condition to Cendant's reasonable satisfaction; (iii) promptly
correct, revise, or replace any nonconforming software products; and (iv) be
responsive to Cendant's maintenance and support needs and requirements. In
addition, Homestore shall provide Cendant with toll-free telephone access to the
Falcon Software Support Staff to assist in identifying problems or answering
questions regarding use and operation of the software products, and for
notifying the Falcon Software Support Staff of the need for maintenance or
support, which telephone support shall be available during the days and hours
set forth in Exhibit A attached hereto. If, at any time during the Maintenance
Period Cendant requires out-of-scope Services and/or additional maintenance and
support staffing, Homestore agrees to expand the Falcon Software Support Staff
to satisfy Cendant's requirements, which expansion shall be done pursuant to a
written amendment to this Agreement and at an additional maintenance and support
fee of $150,000.00 per year per additional full-time equivalent staff resource.

         B.       In addition to the obligations set forth in Section 3A hereof,
the Falcon Software Support Staff shall use commercially reasonable efforts to
provide the Services in accordance with the service and severity levels
described in Exhibit A attached hereto

         C.       As part of the Services, the Falcon Software Support Staff
shall use commercially reasonable efforts to provide (i) maintenance integration
(in accordance with Cendant's reasonable requirements) between the Falcon Broker
and Falcon Agent products, and maintenance integration (in accordance with
Cendant's reasonable requirements) between Falcon and the following Top Producer
products as they exist on the effective date of this Agreement and/or otherwise
become available during the Maintenance Period:

         -        WiTP ( Wireless Internet Top Producer)

         -        iTPZ (Internet Top Presenter)

         -        RiTP (Remote Internet Top Producer)

         -        iHM (Internet Hot Marketer)

         -        Internet Top Connector - MLS download

         -        Sellphone or WAP Phone Capability.

                                       6

<PAGE>

         -        Agent Leads Toolkit-

         In addition to the foregoing, maintenance integration shall also
include (i) any and all products which Top Producer sells to its other customers
and which integrate with Top Producer's online broker and agents products, and
(ii) any and all accounting products which Top Producer currently integrates
(including, but not limited to, Quickbooks and Great Plains accounting
software).

         D.       The initial maintenance and support Services period shall
commence upon the effective date of this Agreement and continue for a period of
three (3) years, unless renewed or otherwise earlier terminated as hereinafter
described. Upon expiration of the initial maintenance and support Services
period, Cendant may, at its sole option, elect to renew maintenance and support
Services for an additional one (1)-year period (and/or longer periods as agreed
upon in writing between the parties). Any such renewal of maintenance and
support Services shall be pursuant to terms and conditions which are similar to
those contained in this Agreement, subject to mutually agreed upon maintenance
and support fees. Such renewal shall be made pursuant to a written agreement or
amendment signed by the parties' authorized representatives. The initial
maintenance and support period, plus any renewal maintenance and support periods
(if any), shall collectively be referred to as the "Maintenance Period". Upon
expiration or termination of the Maintenance Period, Homestore shall, upon
Cendant's request, provide to Cendant all assistance and cooperation reasonably
required by Cendant in order to transfer and transition, in a prompt and smooth
manner, responsibility for the provision of such maintenance and support
Services from Homestore to Cendant (or to Cendant's third party service
provider), with the objective of allowing such Services to continue without
degradation or any material interruption ("Transition Services"). Cendant shall
pay Homestore's then-current time and materials rates for any such Transition
Services, except that there shall be no charge for any Transition Services that
result from Cendant's termination of this Agreement for Homestore's material
breach pursuant to Section 6C hereof.

         E.       The maintenance and support Services fee for the initial three
(3)-year maintenance and support period described in Section 3D hereof shall be
$2,250,000.00 (two million two hundred fifty thousand dollars), which fee shall
be paid by Cendant in three (3) separate installments of $500,000.00,
$750,000.00, and $1,000,000.00. These installments shall be due and payable by
Cendant within thirty (30) days after Cendant's receipt of valid invoices from
Homestore, which invoices shall be submitted by Homestore as follows:

         (i)      $500,000.00 - upon execution of this Agreement by both
                  parties;

         (ii)     $750,000.00 - thirty (30) days prior to the expiration of the
                  first year of the initial 3-year maintenance and support
                  period; and

         (iii)    $1,000,000.00 - thirty (30) days prior to the expiration of
                  the second year of the initial 3-year maintenance and support
                  period.

                                       7

<PAGE>

         The maintenance and support fees for any renewal periods shall be in
accordance with the renewal provisions set forth in the applicable renewal
agreement or amendment described in Section 3D hereof. Notwithstanding the
foregoing (and unless otherwise agreed to in writing between the parties)
Homestore agrees that, upon any such renewal(s), it will not increase the
renewal maintenance and support fees more than five percent (5%) over and above
the maintenance and support fees paid by Cendant during the immediately
preceding maintenance and support period.

         F.       In providing the Services, Homestore shall be responsible for
the supervision and direction of its employees and any subcontractors. Homestore
shall inform Cendant of the name of the Homestore supervisor responsible for
supervising the Services. In the event that Cendant, in its sole and reasonable
judgment, determines that any individuals assigned by Homestore or its
subcontractors to perform the Services are unsatisfactory or unqualified to
perform such Services, Cendant shall so notify Homestore and such individuals
shall be removed forthwith and replaced by Homestore and/or its subcontractors
without any degradation in Services to Cendant.

         G.       Homestore shall not retain any subcontractor to assist it in
the performance of Services hereunder without the prior written consent of
Cendant. Any subcontractor retained by Homestore for such purposes shall be
given a copy of this Agreement prior to commencing work in connection with such
Services, and shall agree in writing to comply with the provisions of this
Agreement (including, but not limited to, the provisions regarding Confidential
Information). All subcontractors shall work under the control and direction of
Homestore, who shall be solely responsible for the work of and payment to any
subcontractor, as well as for any breaches of this Agreement by such
subcontractor. Cendant shall have no responsibility whatsoever with respect to
any payments to subcontractors, and Homestore shall indemnify, defend, and hold
harmless Cendant from and against any and all subcontractor claims or demands
relating to any such payments.

         H.       To the extent that Homestore performs any of the Services via
any electronic means (including, but not limited to, electronic mail, website,
and/or the Internet), and/or has access to Cendant's electronic mail, website,
computer systems or networks, and/or other Internet systems, Homestore shall
implement industry-standard security to protect Cendant's computer systems,
network devices and/or the data processed thereon against the risk of
penetration by, or exposure to, a third party via any system or feature utilized
by Homestore in performing such work and/or accessing such systems. In addition,
Homestore shall comply with Cendant's reasonable policies, standards,
procedures, and guidelines for privacy, information protection, and data and
systems security (which policies, standards, procedures, and guidelines have
been made available to Homestore prior to the effective date of this Agreement),
and with all applicable privacy laws and regulations.

         I.       Except as otherwise specified in Section 2C hereof, any and
all reports, computer programs, documentation, specifications, deliverables,
products, work product, software, source code, algorithms, routines, graphics,
files, software patches,

                                       8

<PAGE>

enhancements, modifications, blueprints, diagrams, charts, functional
descriptions, photographs, surveys, or other materials, writings, or works of
authorship (and any drafts of the foregoing) created, developed, or prepared by
Homestore, its employees, or subcontractors in the course of performing the
Services under this Agreement (collectively, "Work Product") shall belong
exclusively to Homestore.

SECTION 4. REPRESENTATIONS & WARRANTIES

         A.       Homestore hereby represents and warrants to Cendant that:

         (i)      Homestore has all rights, approvals, and/or licenses necessary
                  to provide the Source Code to Cendant in accordance with the
                  terms of this Agreement;

         (ii)     The Source Code as delivered by Homestore shall be free and
                  clear of any and all encumbrances, liens, mortgages and duties
                  (collectively, "Liens"), and that Cendant's permitted use and
                  possession of the Source Code will not be interrupted or
                  otherwise disturbed by any entity asserting valid claims
                  related such Liens;

         (iii)    Any failure of the Source Code and Services to conform in all
                  material respects to the applicable Documentation and other
                  materials that define or describe the functionality of the
                  Source Code and Services shall be addressed as provided in
                  Sections 3A and 3B hereof, subject to any other rights and
                  remedies available to Cendant hereunder;

         (iv)     Neither the Source Code, nor any portion thereof, violate,
                  infringe upon, or misappropriate any (a) patent, or copyright
                  issued in the United States (and/or in any other country or
                  territory in which Homestore has granted Cendant a license to
                  use such Source Code), (b) trade secret based in the United
                  States (and/or in any other country or territory in which
                  Homestore has granted Cendant a license to use such Source
                  Code), (c) trade name, or (d) other intellectual property
                  rights of any third party (collectively, "Infringement");

         (v)      The Source Code, as delivered by Homestore, does not contain,
                  and Homestore shall not introduce into the Source Code (nor
                  into Cendant's computer systems, databases, or software in the
                  course of providing the Services), any viruses or any other
                  contaminants (including, but not limited to, codes, commands,
                  instructions, devices, techniques, bugs, web bugs, or design
                  flaws) that may be used to access, alter, delete, threaten,
                  infect, assault, vandalize, defraud, disrupt, damage, disable,
                  inhibit, or shut down the Source Code or Cendant's computer
                  systems, databases, software, or other Cendant information or
                  property, in a manner other than in accordance with the terms
                  of this Agreement, provided that this Section 4A(v) shall not

                                       9

<PAGE>

                  apply to the unintentional transmission of such viruses or
                  other contaminants to Cendant's computer systems, databases,
                  or software via email;

         (vi)     Homestore possesses the requisite expertise, knowledge, and
                  skills necessary to perform the Services in accordance with
                  the terms and conditions of this Agreement; and

         (vii)    In recognition of the critical nature of these Services,
                  Homestore (and its subcontractors, if any) shall have and
                  maintain sufficient resources, facilities, capacity, and
                  manpower to ensure that the Services are provided in a
                  professional, timely, and workmanlike manner in accordance
                  with the terms of this Agreement.

         B.       EXCEPT AS OTHERWISE EXPRESSLY PROVIDED IN THIS AGREEMENT,
HOMESTORE MAKES NO WARRANTIES, EITHER EXPRESS OR IMPLIED, WITH RESPECT TO THE
SOURCE CODE, SERVICES, OR THE ASSOCIATE SOFTWARE PRODUCTS PROVIDED HEREUNDER,
INCLUDING (WITHOUT LIMITATION) ANY IMPLIED WARRANTY OF MERCHANTABILITY OR
FITNESS FOR A PARTICULAR PURPOSE.

SECTION 5. CONFIDENTIAL INFORMATION

         A.       Cendant (including its Affiliates) and Homestore may from time
to time disclose to each other (both orally and in writing), in connection with
the Source Code and/or Services provided hereunder, certain financial,
technical, legal, marketing, network, and/or other business information,
reports, records, or data (including, but not limited to, computer programs,
code, systems, applications, analyses, passwords, procedures, output,
information regarding software, sales data, vendor lists, customer lists, and
other customer-related information, business strategies, advertising and
promotional plans, creative concepts, specifications, designs, know-how that has
been documented in writing prior to the effective date of this Agreement and is
trade secret in nature, and/or other material) which the disclosing party deems,
and the receiving party should consider, proprietary and/or confidential (and of
independent economic value) to the disclosing party (collectively, "Confidential
Information"). Cendant's Confidential Information also shall include any
proprietary and/or confidential information related to Cendant's Affiliates,
employees, franchisees, sales representatives, brokers, and/or customers.
Homestore's Confidential Information also shall include the Source Code and the
Documentation.

         B.       The receiving party agrees to treat all Confidential
Information provided by the disclosing party pursuant to this Agreement as
proprietary and confidential to the disclosing party, and the receiving party
shall not (without the prior written consent of the disclosing party) disclose
or permit disclosure of such Confidential Information to any third party,
provided that the receiving party may disclose, on a need-to-know basis, such
Confidential Information to its third party subcontractors who have signed
non-disclosure agreements with the receiving party, and/or to its (and, in the
case of Cendant, to Cendant's Affiliates') current employees, officers, or
directors, or legal or financial representatives. The

                                       10

<PAGE>

receiving party agrees to safeguard all Confidential Information of the
disclosing party with at least the same degree of care (which in no event shall
be less than reasonable care) as the receiving party uses to protect its own
Confidential Information. The receiving party shall use the disclosing party's
Confidential Information solely for the purpose of fulfilling its obligations
under this Agreement. The receiving party further agrees not to use or disclose
the disclosing party's Confidential Information for its own benefit or for the
benefit of others, except as otherwise authorized by this Agreement and/or the
disclosing party in writing.

         C.       In addition to the foregoing, in the event that Cendant's
Confidential Information contains (and/or to the extent that Homestore has
access to) any personally identifiable information (including, but not limited
to, names, phone numbers, addresses, credit card information, social security
numbers, and/or account or financial information) of Cendant's (and/or its
Affiliates') employees, customers, sales associates, brokers, or franchisees,
Homestore acknowledges that such information is highly confidential and private
in nature, and agrees to hold such information in the strictest of confidence,
and to maintain and safeguard such information, in accordance with (i) the
confidentiality obligations set forth in this Section 5, (ii) Cendant's
then-current privacy policies and procedures, which policies and procedures have
been made available to Homestore, and (iii) any and all applicable privacy laws,
regulations, statutes, and guidelines.

         D.       Notwithstanding the foregoing, the parties agree that the
following information shall not be deemed Confidential Information, and the
receiving party shall have no obligation with respect to any such information:

         (i)      Information which is independently developed by the receiving
                  party without any breach of this Agreement by the receiving
                  party, and which can be shown by documentary evidence;

         (ii)     Information which is or becomes in the public domain by no
                  fault or wrongful act of the receiving party;

         (iii)    Information which is known by the receiving party prior to
                  disclosure by the disclosing party;

         (iv)     Information which is disclosed to the receiving party by third
                  party who was not under a similar restriction or obligation of
                  confidentiality to the disclosing party, and without breach of
                  this Agreement;

         (v)      Information which is approved for release by written
                  authorization of the disclosing party and/or the third party
                  owner of the disclosed information; or

         (vi)     Information which is disclosed pursuant to the lawful
                  requirement or order of a court or governmental agency,
                  provided that, upon the receiving party's receipt of a request
                  for such a disclosure, the receiving party gives

                                       11

<PAGE>

                  prompt notice thereof to the disclosing party (unless such
                  notice is not possible under the circumstances) so that the
                  disclosing party may have the opportunity to intervene and
                  contest such disclosure and/or seek a protective order or
                  other appropriate remedy.

         E.       All Confidential Information transmitted or disclosed
hereunder will be and remain the property of the disclosing party, and the
receiving party shall (at the disclosing party's election) promptly destroy or
return to the disclosing party any and all copies thereof upon termination or
expiration of this Agreement or upon the written request of the disclosing
party. Upon the request of the disclosing party, any such destruction shall be
certified in writing by the receiving party.

         F.       Nothing in this Agreement shall be construed to limit or
prohibit the receiving party from independently creating or developing (or
having created or developed for it), or from acquiring from third parties, any
information, products, concepts, systems, or techniques that are similar to or
compete with the information products, concepts, systems, or techniques
contemplated by or embodied in the disclosing party's Confidential Information,
provided that (in connection with such creation, development, or acquisition)
the receiving party does not violate any of its obligations under this
Agreement. Notwithstanding the foregoing, the receiving party shall not, nor
assist others to, disassemble, decompile, reverse engineer, or otherwise attempt
to recreate, the disclosing party's Confidential Information.

         G.       Homestore shall not tamper with, compromise, or attempt to
circumvent any physical or electronic security or audit measures employed by
Cendant or its Affiliates in the course of Cendant's or its Affiliates' business
operations. Homestore shall not, without Cendant's prior express written
consent, or as otherwise provided in this Agreement, and without complying with
Cendant's and its Affiliates' security policies and procedures (which policies
and procedures have been made available to Homestore), (i) access any
Confidential Information or computer systems of Cendant or its Affiliates, or
(ii) remove from Cendant's premises any Confidential Information or any other
property of Cendant or its Affiliates.

         H.       The parties acknowledge and agree that, given the unique and
proprietary nature of the Confidential Information, monetary damages may not be
calculable or a sufficient remedy for any breach of this Section 5 by the
receiving party, and that the disclosing party may suffer great and irreparable
injury as a consequence of such breach. Accordingly, each party agrees that, in
the event of such a breach or threatened breach, the disclosing party shall be
entitled to seek equitable relief (including, but not limited to, injunction and
specific performance) in order to remedy such breach or threatened breach. Such
remedies shall not be deemed to be exclusive remedies for a breach by the
receiving party but shall be in addition to any and all other remedies provided
hereunder or available at law or equity to the disclosing party.

                                       12

<PAGE>

SECTION 6. TERM AND TERMINATION

         A.       This Agreement shall be effective as of the date first set
forth above, and shall continue unless otherwise earlier terminated as set forth
hereinafter.

         B.       Cendant may terminate, at any time and without cause, this
Agreement, the license, and/or the Services hereunder by providing to Homestore
at least five (5) days' prior written notice thereof. In the event that Cendant
terminates this Agreement and/or the Services without cause pursuant to this
Section 6B, Cendant shall have no further obligation or liability whatsoever to
Homestore hereunder except (i) as described in Sections 5 and 6D hereof with
respect to Homestore's Confidential Information, and (ii) that Cendant shall pay
Homestore for any and all Services performed by Homestore prior to the
termination effective date and in accordance with the terms and conditions of
this Agreement.

         C.       Either party may terminate this Agreement, the license, and/or
the Services if the other party materially breaches any of the terms,
conditions, or obligations set forth herein and fails to correct such breach
within fifteen (15) days (or such other period of time as mutually agreed upon
in writing between the parties) following the breaching party's receipt of
written notice of such breach. In the event that Cendant terminates this
Agreement, the license, and/or the Services hereunder as a result of Homestore's
material breach pursuant to this Section 6C, Cendant shall have no further
payment liability or obligation whatsoever to Homestore hereunder except as
described in Sections 5 and 6D hereof with respect to Homestore's Confidential
Information, and Homestore shall (in addition to any and all other remedies that
may be available to Cendant) promptly (i) refund to Cendant any and all Services
fees paid in advance by Cendant for those Services not performed in accordance
with the terms and conditions of this Agreement, and (ii) reimburse Cendant's
reasonable out-of-pocket costs incurred by Cendant (or its third party
contractors) to rectify (or have rectified) any non-conforming Services and/or
Source Code which were the subject of said material breach, provided that
Cendant shall have an obligation to reasonably mitigate any and all such costs.

         D.       Upon the termination of this Agreement (but subject to the
provisions set forth in Section 6E hereof), each party shall (i) promptly (at
the other party's sole option and request) return to the requesting party or
destroy (and certify in writing to such destruction) any and all Confidential
Information of the requesting party, whether in written or electronic form, and
neither party, nor any of its or their subcontractors or agents (nor any of
their respective employees) shall retain any copies, extracts, derivatives, or
other reproductions of the requesting party's Confidential Information (in whole
or in part) in any form whatsoever, and (ii) take reasonable steps to assure
that any and all documents, memoranda, notes, and other writings or electronic
records prepared or created by the requesting party, which include or reflect
the requesting party's Confidential Information, are destroyed.

         E.       Notwithstanding anything to the contrary set forth in Section
2 hereof and/or above in this Section 6 (and except as described below in this
Section 6E), any and

                                       13

<PAGE>

all licenses granted to Cendant by Homestore under this Agreement shall remain
irrevocable in nature and may not be terminated or revoked by Homestore (and
Cendant shall retain and continue to use the Source Code, and all license rights
shall continue according to their tenor). Notwithstanding the foregoing,
Homestore may revoke Cendant's license to the Source Code only in the event that
(i) a court of competent jurisdiction determines that Cendant's (and/or its
Affiliates') use of the Source Code is not otherwise authorized by this
Agreement, (ii) such court issues an injunction or preliminary injunction
restraining Cendant (and/or its Affiliates) from continuing such unauthorized
use, and (iii) Cendant and/or its Affiliates, upon its or their receipt of
written notice of such injunction or preliminary injunction, do not otherwise
cease such unauthorized use within ten (10) days thereafter.

SECTION 7. INFRINGEMENT; INDEMNIFICATION

         A.       Homestore shall indemnify, defend and hold harmless Cendant
(including its Affiliates, and its and their respective officers, directors,
employees, agents, successors and permitted assigns thereof) from and against
any and all any and all Losses arising out of or in connection with any third
party Infringement (as defined in Section 4A(iv) hereof) claims. Homestore's
indemnity set forth above in this Section 7A shall not be applicable to any
Infringement claims that result from Cendant's alterations or modifications to
the Source Code. In the event that the Source Code becomes (or, in Homestore's
opinion, is likely to become) the subject of an Infringement claim, Homestore
shall, at its sole option and expense (and in addition to any and all other
remedies that may be available to Cendant), (i) procure for Cendant the right to
continue using the Source Code as contemplated hereunder, (ii) modify the Source
Code to eliminate any Infringement which may result from Cendant's use, provided
that the modified Source Code's functionality shall remain the same as set forth
in the applicable specifications, or (iii) replace the Source Code with an
equally suitable, compatible, and functionally equivalent non-Infringing source
code. In the event that options (i) through (iii) above are not reasonably
available to or commercially feasible for Homestore, Cendant shall stop using
the Infringing Source Code and may (at its sole election) terminate this
Agreement pursuant to Section 6C hereof.

         B.       Each party hereto shall indemnify, defend and hold harmless
the other party (including its Affiliates, and its and their respective
officers, directors, employees, agents, successors and permitted assigns
thereof) from and against any and all any and all losses, liabilities, damages,
claims, costs, penalties, fees (including, but not limited to, reasonable
attorneys' fees, disbursements of counsel, and costs of investigation,
litigation, and settlement, incurred in any action or proceeding between Cendant
and Homestore or between either party and any third party), and expenses
(collectively, "Losses") arising out of or in connection with (i) any breaches
by the indemnifying party of Sections 3H, 4A(v), and/or 5 hereof, and/or (ii)
the indemnifying party's willful misconduct and/or intentional or grossly
negligent actions hereunder.

         C.       Each party shall provide the other party with prompt written
notice of any such claims, and the indemnifying party shall have the right to
control and direct the

                                       14

<PAGE>

investigation, defense, and settlement of each such claim. The indemnified party
shall reasonably cooperate with the indemnifying party in connection with the
foregoing. The indemnified party may (at its sole option and at its own expense)
participate in the claim or action with its own separate legal counsel, in which
event the cost of such participation (including the cost of such separate legal
counsel) shall be borne by the indemnified party. The exercise by the
indemnified party of its option to select its own separate legal counsel shall
in no way limit or modify the indemnifying party's obligations set forth above
in this Section 7.

SECTION 8. LIMITATION OF LIABILITY; CONSEQUENTIAL DAMAGES

         EXCEPT AS OTHERWISE PROVIDED BELOW IN THIS SECTION 8, NEITHER PARTY TO
THIS AGREEMENT SHALL BE LIABLE TO THE OTHER PARTY FOR CONSEQUENTIAL, INCIDENTAL,
PUNITIVE, OR INDIRECT DAMAGES (INCLUDING, BUT NOT LIMITED TO, LOST PROFITS OR
LOST SAVINGS) ARISING FROM, RELATING TO, OR IN CONNECTION WITH THIS AGREEMENT,
EVEN IF SUCH PARTY HAD BEEN ADVISED OF THE POSSIBILITY OF OR COULD HAVE FORESEEN
SUCH DAMAGES, AND EACH PARTY'S AGGREGATE LIABILITY UNDER THIS AGREEMENT SHALL IN
NO EVENT EXCEED THE TOTAL MAINTENANCE AND SUPPORT FEES PAID BY CENDANT TO
HOMESTORE UNDER THIS AGREEMENT. THIS LIMITATION OF LIABILITY APPLIES REGARDLESS
OF THE FORM OF ACTION, WHETHER IN CONTRACT, TORT, OR OTHERWISE. THE LIMITATIONS
OF LIABILITY SET FORTH ABOVE IN THIS SECTION 8 SHALL NOT APPLY TO LOSSES AGAINST
WHICH THE PARTIES HAVE AGREED TO INDEMNIFY EACH OTHER PURSUANT TO SECTIONS 3G,
7A AND/OR 7B HEREOF.

SECTION 9. ASSIGNMENT

         Neither party may assign, transfer, delegate, or pledge this Agreement
and/or any of its obligations hereunder to any third party without the prior
written consent of the other party. Notwithstanding the foregoing, Cendant may,
without the consent of Homestore, assign, transfer, delegate, or pledge this
Agreement (including the Source Code) and/or any of its rights or obligations
hereunder to (i) any of its Affiliates conducting business and/or franchise
operations associated with or on behalf of Cendant's real estate brands, and/or
(ii) any third party which has acquired the Source Code in connection with a
consolidation, merger, sale, divestiture, or spin-off of substantially all of
its (or any of its Affiliates', business units' or business lines') assets,
provided that the assignee or successor in interest is not a direct competitor
of Homestore and assumes in writing the obligations of Cendant hereunder.

SECTION 10. NOTICES

         Any and all notices, requests, demands, or other communications
hereunder shall be in writing and be deemed to have been duly given (i) when
delivered by hand, (ii) one

                                       15

<PAGE>

(1) business day after being given to an express overnight courier, (iii) when
sent by confirmed facsimile, with a copy sent by another means set forth in this
Section 10, or (iv) five (5) days after the day of mailing, when mailed by
certified or registered mail, return receipt requested, postage prepaid, and
addressed to the respective parties as follows, provided that either party may
change its address or designee for notification purposes by giving the other
party prior written notice thereof:

If to Cendant:
Cendant Corporation
1 Campus Drive
Parsippany, New Jersey 07054
Attn: Senior Vice President, Legal - Real Estate

If to Homestore:
Homestore, Inc.
30700 Russell Ranch Road
Westlake Village, California 91362
Attn: General Counsel

SECTION 11. GENERAL PROVISIONS

         A.       Nothing contained in this Agreement shall be construed as
conferring any right upon either party hereto to use or refer to (in any
advertising, publicity, promotional, marketing, or other materials, media, or
activities) any name, trade name, trademark, service mark, logo, or any other
designation (including any contraction, abbreviation or simulation of any kind
of the foregoing) of the other party or the other party's affiliates without the
prior written consent of such other party. Neither party shall disclose to any
third party (other than its third party subcontractors on a need-to-know basis)
that it has furnished or contracted to furnish to the other party the Source
Code or Services hereunder, or the terms, conditions or scope of this Agreement,
without the prior express written consent of the other party or except as
otherwise required by law, regulation, SEC or stock exchange rules, or court
order.

         B.       In the event any one or more of the provisions of this
Agreement shall for any reason be held to be invalid, void, illegal, or
unenforceable by any court, arbitrator, or governmental agency, the remaining
provisions of this Agreement shall remain in full force and effect, and the
invalid, void, illegal, and/or unenforceable provision(s) shall survive to the
extent not so held. To the extent reasonably possible and practicable, the
invalid, void, illegal, or unenforceable provision(s) shall be replaced by a
mutually acceptable valid, legal, and enforceable provision(s) which best
reflects the parties' intentions underlying the replaced invalid, void, illegal,
or unenforceable provision(s).

         C.       The failure of either party to insist upon the performance of
any obligations, terms, or conditions of this Agreement, to exercise any right
or privilege conferred hereunder, or to enforce any remedies or penalties
resulting from any breach

                                       16

<PAGE>

hereof, shall not be construed as a waiver of any such obligations, terms,
conditions, rights, privileges, remedies, or penalties. No obligation, term,
condition, right, privilege, remedy, or penalty shall be deemed waived, and no
breach of this Agreement shall be deemed consented to, unless and until such
waiver or consent is specifically expressed in a writing signed by the party
claimed to have so waived or consented. No such written waiver shall constitute
a waiver of any other obligation, term, condition, right, privilege, remedy, or
penalty hereunder, and no such written consent shall constitute a consent to any
other breach hereof.

         D.       Any remedies expressly provided for in this Agreement and/or
available to either party hereunder are cumulative and non-exclusive, and may be
exercised concurrently or separately. The exercise of any one remedy shall not
be construed to prohibit either party from pursuing any and all other remedies
that may be available at law, in contract, or in equity. The prevailing party in
any dispute and/or legal action brought hereunder shall also be entitled to
recover all reasonable out-of-pocket costs and expenses (including, but not
limited to, reasonable court costs and attorneys' fees) incurred as a result
thereof.

         E.       The provisions, terms, and conditions of this Agreement
represent the entire agreements and understandings between the parties hereto
with respect to the subject matter hereof, and supersede any and all prior and
contemporaneous agreements, understandings, documents, negotiations, and/or
discussions (whether oral or written) between the parties. No supplement,
amendment, or modification to this Agreement shall be valid, enforceable, or
binding upon the parties unless made in writing and signed by an authorized
representative of both parties. In the event of any conflict or inconsistencies
between the terms and conditions of this Agreement (including any amendments
thereto) and those set forth in Exhibit A attached hereto, the terms and
conditions of this Agreement (including any amendments thereto) shall take
precedence and prevail.

         F.       This Agreement and any amendments hereto shall be governed by
and construed in accordance with the laws of the State of New York, without
regard to the principles of conflicts of laws. Each party hereby submits itself
for the sole purpose of this Agreement and any controversy arising hereunder to
the exclusive jurisdiction of the federal or state courts located in the State
of New York, and any courts of appeal therefrom, and waives any objection (on
the grounds of lack of jurisdiction, or forum non conveniens or otherwise) to
the exercise of such jurisdiction over it by any such courts. Each party agrees
to comply with any and all applicable laws, statutes, rules, and regulations
with respect to its respective obligations and performance under this Agreement.
The parties hereby agree that the provisions of the Uniform Computer Information
Transactions Act ("UCITA") shall not be applicable to this Agreement, the Source
Code, and/or the software products described herein. In addition, the parties
hereby agree that this Agreement shall not be governed by the U.N. Convention on
Contracts for the International Sale of Goods.

         G.       Any provision of or obligation under this Agreement which
contemplates performance or observance subsequent to any termination or
expiration of this

                                       17

<PAGE>

Agreement shall survive any such termination or expiration, and shall continue
in full force and effect. In addition, all provisions of this Agreement shall
survive the termination or expiration of this Agreement to the fullest extent
necessary to give the parties the full benefit of the bargain expressed herein
and of the intent contemplated hereunder.

                                       18

<PAGE>

         IN WITNESS WHEREOF, the parties have caused this Agreement to be
executed by their duly authorized representatives as of the date first above
written.

CENDANT CORPORATION                           HOMESTORE, INC.

By: /s/ C. Patteson Cardwell, IV              By: /s/ Michael R. Douglas
    _______________________________               _____________________________

Name: C. Patteson Cardwell, IV                Name: Michael R. Douglas
      _____________________________                 ___________________________

Title: Senior Vice President, Legal           Title: EVP and General Counsel
       ____________________________                  __________________________

Date: 8/5/03                                   Date: 8/5/03
      _____________________________                  __________________________

<PAGE>

                                   EXHIBIT A

                            SERVICE LEVEL AGREEMENT
                                      FOR
                 FALCON SOFTWARE MAINTENANCE & SUPPORT SERVICES

<PAGE>

                                    EXHIBIT A

                             SERVICE LEVEL AGREEMENT

                                       FOR

                 FALCON SOFTWARE MAINTENANCE & SUPPORT SERVICES

                                     BETWEEN

                               CENDANT CORPORATION

                                        &

                                 HOMESTORE, INC

Confidential                         Page 1                             8/7/2003

<PAGE>

TABLE OF CONTENTS

<TABLE>
<CAPTION>
SECTION/TITLE                                                                  PAGE
-----------------------------------------------------------------------------------
<S>                                                                            <C>
1.       Introduction                                                           3

2.       Service Level Review Process                                           3

3.       Service Level Management                                               4

4.       Service Criteria                                                       5

5.       Top Producer and Cendant Responsibilities                              6
         5.1      Software Support Hours                                        7
         5.2      Severity Levels and Target Response Times                     8
         5.3      Target Resolution Time                                        8
         5.4      Escalation Procedures/Problem Management Process              9

6.       Change Management Process                                              9

Appendix A        Service Level Escalation                                      11

Appendix B        Cendant Technical Contacts                                    12
</TABLE>

Confidential                         Page 2                             8/7/2003

<PAGE>

1. INTRODUCTION

This document ("SL Agreement") is an exhibit to (and is incorporated by
reference into) the Source Code License and Maintenance Services Agreement,
effective the 5th day of August 2003, by and between Cendant and Homestore
("Agreement"). Capitalized words or terms not defined herein shall have the
meanings given to them in the Agreement. The purpose of this SL Agreement is to
set forth agreed upon service levels for the Services provided to Cendant by the
Falcon Software Support Staff) pursuant to the Agreement. The goal of this SL
Agreement is to establish response times to and service levels for system
problems that may occur during its production operation and document agreed upon
procedures for the handling of system issues including communication to Cendant
and Homestore's subsidiary, Top Producer Systems, Inc. ("Top Producer")
management. While this SL Agreement does not include direct support to the end
users such as Cendant Affiliates and Sales Associates (collectively, "End
Users"), reference to End Users and End User support may appear in this SL
Agreement as these are often the sources from which problems to be handled by
Top Producer hereunder are reported and logged.

Due to the fact that Falcon is web-based, it is expected that the system will be
available to the end users on a 24 hour per day, 365 day per year basis with the
exception of mutually agreed upon pre-scheduled outages for maintenance and
upgrades as required. Therefore a member of the Falcon Software Support Staff
shall be available on a comparable basis should any critical errors arise that
negatively impacts the business operations of Cendant and Cendant users.

This SL Agreement may be amended by the mutual written agreement of the parties
if new support mechanisms are introduced to the Falcon process.

As part of this document, Cendant and Top Producer agree to:

-    Establish the Service Level Commitments and cure periods with which Top
     Producer shall comply.

-    Review this SL Agreement every six months to determine whether any changes
     need to be implemented. The next review shall be no later than February 1,
     2003.

-    Gain approval by both parties to all changes to this SL Agreement and to
     clearly define and identify those changes in a revised SL Agreement or
     amendment signed by the parties' authorized representatives.

-    Create (by no later than October 1, 2003) a mutually agreed upon written
     change control process and official documentation.

-    Create (by no later than October 1, 2003) a mutually agreed upon written
     document management and approval process.

2. SERVICE LEVEL REVIEW PROCESS

Confidential                         Page 3                             8/7/2003

<PAGE>

A process will be implemented to ensure timely reviews of this SL Agreement.
Reviews of the current process and supporting documentation will be conducted
quarterly (or as otherwise agreed to between the parties). These reviews will be
conducted by teleconference calls unless otherwise changed by mutual agreement.
The Service Level Review Process will identify areas of service that Cendant
would like to be improved by Top Producer and ensure follow-up by Top Producer
on Cendant's concerns and issues.

Topics to be covered include:

-    Performance against service levels and cure periods

-    Contractually required corrective actions and other suggested actions to
     rectify performance below cure period levels

-    Cendant Real Estate & Top Producer plans and projects which have relevance
     to service levels

-    Resource allocations: (Number of people allocated, actual staffing on
     support, staff turnover)

-    Problem management system and escalation process

-    Problem monitoring and reporting as agreed

-    Establishment and approval of written action plans that address individual
     issues

In addition to the quarterly review meetings, periodic management meetings will
be scheduled as needed to review overall status and performance against this SL
Agreement.

3. SERVICE LEVEL MANAGEMENT

         3.1 SERVICE LEVEL COMMITMENTS & CURE PERIODS

         Service Levels and Cure Periods are used to define those measurable
         performance levels, turnaround times, and minimum downtime with which
         the Falcon Software Support Staff shall use commercially reasonable
         efforts to comply in the performance of the Services. Such Service
         levels and cure periods shall be subject to this SL Agreement.

         3.2 SERVICE LEVEL MEASUREMENTS

         The Falcon Software Support Staff will produce a monthly written
         Service Level Performance Report. These reports will be created to
         enable the monitoring of service level commitments. The Service Level
         Performance Report will be sent to Cendant Real Estate on a monthly
         basis, summarized quarterly, and reviewed during the quarterly review
         meetings. These reports will document any problems or issues that occur
         on the Falcon application as well as details regarding each issue's
         resolution.

Confidential                         Page 4                             8/7/2003

<PAGE>

         Top Producer and Cendant Real Estate agree to work together where
         appropriate to improve the accuracy and/or the efficiency of production
         of these reports through the use of existing tools or future technology
         acquired by either party.

         Cycles of report creation and review are subject to change, by mutual
         agreement, based on product releases and periods of increased or
         decreased problem reporting.

         Although the specifications of reports have not yet been established,
         the Falcon Software Support Staff shall (as part of the Services) use
         commercially reasonable efforts to modify the Top Producer CRM system
         for Falcon problem tracking so that the report statistics listed below
         will be included.

               -    Description of Issue

               -    Date and time of issue

               -    First reported by

               -    Brand(s) affected

               -    Area(s) of the application affected

               -    Time to resolution

               -    Date/time of resolution

               -    Description of resolution

               -    Report trending against week-to-week, month-to-month,
                    quarter-to-quarter, and year-to-year comparisons

         Reports will be in summary form providing statistics that indicate
         which issues are the most frequent. Issues reported are to be limited
         to those that actually exist on the system due to code problems,
         response problems, connectivity problems and the like and should not
         include End User issues that arise from misuse by Cendant or End Users
         of features and/or functionality. The formal report specifications
         shall be developed and mutually agreed to between the parties by no
         later than October 1, 2003.

4. SERVICE CRITERIA

It is envisioned that Falcon application processing will take place on back-end
real estate servers in the Cendant data center in Denver, Colorado. Due to the
fact that the network and hardware environment are managed and maintained by
Cendant (and its third party outsourcer, IBM), day-to-day maintenance and
monitoring of the hardware environment with which Falcon will integrate will be
Cendant's and IBM's responsibility. The Falcon Software Support Staff will be
responsible for providing Falcon application support consistent with the
responsibilities and commitments set forth in the Agreement and this SL
Agreement. There may be instances, however, where database, hardware and/or
environmental problems that are outside the scope of the Falcon Software Support
Staff's obligations hereunder may require the involvement of Falcon Software
Support Staff personnel. The Falcon Software Support Staff shall assist Cendant
(as

Confidential                         Page 5                             8/7/2003

<PAGE>

reasonably needed) in remedying such problems. Unless otherwise specified in
writing in advance by the Falcon Software Support Staff (and subject to mutual
agreement between the parties regarding any fees), such assistance shall be
provided at no additional cost to Cendant.

5. TOP PRODUCER AND CENDANT RESPONSIBILITIES:

As described in Section 3A of the Agreement, Homestore shall make available to
Cendant the Falcon Software Support Staff who shall be responsible for using
commercially reasonable efforts to provide to Cendant the maintenance and
support Services (in accordance with the service levels) described in the
Agreement and this SL Agreement. In addition to the Services described in the
Agreement and elsewhere in this SL Agreement, the Falcon Software Support Staff
shall:

-    Maintain appropriate automated problem recording and tracking mechanisms to
     permit logging of issues and tracking of same through resolution.

-    Execute the established escalation process for problem resolution.

-    Provide written activity reports regarding problems, issues and customer
     contacts by which support activity can be monitored and evaluated by
     Cendant and Top Producer.

-    Maintain a skilled and professional technical staff that has an in-depth
     knowledge of the Falcon application and its code base.

As part of this SL Agreement, Cendant shall be responsible for:

-    Notifying Top Producer of significant increases/decreases of users of the
     Falcon application when it is known.

-    Working with Top Producer, to project traffic levels and patterns based on
     actual experience.

-    Training the End Users.

-    Data Base Management.

-    Environment management.

-    Procurement and implementation of hardware as needed.

-    Defining hand-off procedures for Data Base and Network issues.

5.1 SOFTWARE SUPPORT HOURS

The Falcon Software Support Staff will serve as the first point of contact for
all queries by the internal staff of Cendant Real Estate relating to application
problems and issues for the Affiliates and internal staff of Cendant Real
Estate. Subject to the obligations set forth in Section 3 of the Agreement and
the provisions set forth below (including, but not limited to the severity
levels and response times set forth in Section 5.2 hereof), the hours during
which the Falcon Software Support Staff shall be available to provide the
Services shall be Monday through Friday (excluding Federal holidays), 8:00 a.m.
through 5:00 p.m., Pacific time.

Confidential                         Page 6                             8/7/2003

<PAGE>

Notwithstanding the foregoing, the Falcon system is expected to be available
24x7 except for mutually agreed upon predetermined outage time for system
maintenance and upgrades. While it is assumed that the system will operate in a
stable and problem-free manner, any interruption of service that impacts the
business of Cendant, its Affiliates, or End Users shall be considered to be of
the highest severity level, and the Falcon Software Support Staff shall respond
as provided herein. Unplanned system interruption will require immediate
attention by the Falcon Software Support Staff in order to minimize adverse
impacts to Cendant and its customers. Accordingly, Top Producer shall implement
appropriate mechanisms and processes to ensure that Cendant staff who are
responsible for monitoring database and system activity can contact appropriate
Falcon Software Support Staff for assistance and problem resolution should the
need arise. This will be accomplished through cell phone or pager notification
(or as otherwise reasonably required by Cendant) during the days and/or hours
outside the standard support hours set forth above in this Section 5.1
(excluding Federal Holidays).

5.2 SEVERITY LEVELS AND RESPONSE TIMES

It is anticipated that problems detected with the Falcon system will be
identified and communicated from Cendant. Each problem reported to the Falcon
Software Support Staff will be given a severity level by appropriate Falcon
Software Support Staff. The severity level is determined depending upon the
nature of the problem, as described below. In the event that Cendant reasonably
disputes any severity level assigned by the applicable Falcon Software Support
Staff (and in the event that the dispute cannot be resolved immediately to
Cendant's reasonable satisfaction and approval), the severity level shall be
adjusted to a level that is acceptable to Cendant.

The following Severity Level matrix has been established for problems reported
to the Falcon Software Support Staff. Each problem, depending upon its nature,
should be tagged by the support person receiving the call with one of the
following severity levels. This information is to be recorded in the problem
management system as identified by Top Producer and reasonably approved by
Cendant. The level of severity will, in turn, have a maximum response time
service level set for it as described in the following matrix. The response
times are the times in which the Falcon Software Support Staff shall provide a
verbal status report and an estimated time for resolution (ETR), with all steps
identified to correct the problem to Cendant Management. Notwithstanding the
foregoing, the Falcon Software Support Staff shall use commercially reasonable
efforts to resolve any and all problems referred to the Falcon Software Support
Staff in accordance with the cure periods set forth below. The Falcon Software
Support Staff shall escalate problems to both Cendant and Top Producer
management if the Falcon Software Support Staff believes that it will not be
able to comply with the cure periods set forth below.

(i) Severity Level 1: With respect to any defects, nonconformities, errors, or
problems with the software products that (a) render the software products or a
critical software component inoperable, or (b) pose an imminent danger to, or
severely impact, (as

Confidential                         Page 7                             8/7/2003

<PAGE>

reasonably determined by Cendant) Cendant's (and/or its Affiliates' or sales
associates') systems, equipment, data, or business, The Falcon Software Support
Staff shall provide a telephone or electronic response (ETR) to Cendant within
three (3) hours after the Falcon Software Support Staff's receipt of notice of
such defects, nonconformities, errors, or problems. The Falcon Software Support
Staff shall use commercially reasonable efforts to, within twenty-four (24)
hours (Cure Period) of said notice, correct the defects, nonconformities,
errors, and problems (telephonically or electronically) to Cendant's reasonable
satisfaction and approval, and in accordance with the specifications, user
manuals, documents, and SLA requirements. In addition, during the aforementioned
8-hour period, the Falcon Software Support Staff must provide to Cendant an
emergency by-pass, workaround, or patch, if available.

(ii) Severity Level 2: With respect to any defects, nonconformities, errors, or
problems with the software products that (in Cendant's reasonable opinion) (a)
degrades the performance, or impairs a primary function, of the software
products or Cendant's systems, equipment, or business functions, or (b) causes a
failure of a non-critical process, the Falcon Software Support Staff shall
provide a telephone or electronic response (ETR) to Cendant within eight (8)
hours after the Falcon Software Support Staff's receipt of notice of such
defects, nonconformities, errors, or problems. The Falcon Software Support Staff
shall use commercially reasonable efforts to, within two (2) business days (Cure
Period) of said notice, correct the defects, nonconformities, errors, and
problems (telephonically or electronically) to Cendant's reasonable satisfaction
and approval, and in accordance with the specifications, user manuals,
documents, and SLA requirements. In addition, during the aforementioned 24-hour
period, the Falcon Software Support Staff must provide to Cendant an emergency
by-pass, workaround, or patch, if available.

(iii) Severity Level 3: With respect to any defects, nonconformities, errors, or
problems with the software not otherwise covered by subsections (i) and (ii)
above, the Falcon Software Support Staff shall provide a telephone or electronic
response (ETR) to Cendant within forty-eight (48) hours after the Falcon
Software Support Staff's receipt of notice of such defects, nonconformities,
errors, or problems. The Falcon Software Support Staff shall provide timely
status updates to Cendant while it uses reasonable efforts to correct the
defects, nonconformities, errors, and problems. The Falcon Software Support
Staff shall use reasonable efforts to correct such defects, nonconformities,
errors, and problems (telephonically or electronically) within ten (10) days
(Cure Period) after its receipt of notice thereof from Cendant. In the event
that the Falcon Software Support Staff is unable to correct the defects,
nonconformities, errors, and problems (telephonically or electronically) within
the aforementioned time period, it shall (upon Cendant's reasonable request)
provide on-site support to correct the errors, which support shall be provided
at the Falcon Software Support Staff's then-current rates.

All response times (ETRs) for problems reported outside of the Falcon Software
Support Staff's standard support days and/or hours described in Section 5.1 of
this SL Agreement shall begin from the start of the next business day after such
problems are

Confidential                         Page 8                             8/7/2003

<PAGE>

reported unless Cendant contacts the Falcon Software Support Staff via cell
phone or pager notification as described in such Section 5.1.

In addition to the foregoing, at any time during the Maintenance Period, Cendant
may request (and the Falcon Software Support Staff shall provide) on-site
support and assistance at Cendant' facility in order to assist with the
correction of any defects, nonconformities, errors, and/or problems at no
additional charge to Cendant except for reimbursement of the Falcon Software
Support Staff's reasonable out-of-pocket and travel costs.

5.3 RESOLUTION TIME

Unless otherwise agreed to in writing by Cendant, the Falcon Software Support
Staff shall use commercially reasonable efforts to comply with the cure periods
described above.

5.4 ESCALATION PROCEDURES/PROBLEM MANAGEMENT PROCESS

Top Producer and Cendant will each maintain and communicate a list of staff and
management contacts, arranged by department and area of responsibility for
problem referral. A list of initial technical contacts is set forth in Appendix
B attached hereto. An alert procedure for contacting the appropriate management
personnel at Top Producer and Cendant Real Estate, with time scales that are
dependent upon severity level, will be maintained by Top Producer management and
Cendant Real Estate Falcon management, which procedure and time scales shall be
mutually agreed upon in writing by no later than October 1, 2003.
Notwithstanding the foregoing, Top Producer shall comply with the Escalation and
Notification Procedures for Severity 1 and Severity 2 Problems described in
Appendix A attached hereto.

6. CHANGE MANAGEMENT PROCESS

Any changes to the Falcon Software Support Staff (subject to the provisions set
forth in Section 3F of the Agreement) and/or to the scope of Services set forth
in the Agreement and this SL Agreement must be communicated in writing on a
Change Request form (or similar writing) designed for this purpose. This
includes (among other things) the authorization of additional support personnel,
change to the escalation procedure or personnel directories, and any pricing
information. No such changes and/or additional scope shall be authorized absent
a formal written amendment signed by the parties' authorized representatives.
Normal day-to-day management of resources as required to provide the Services is
not included in this change management process. Any and all changes that may
have significant impact on the Falcon system and Cendant management are to be
promptly communicated to Cendant Falcon management and Top Producer management.
A staffing change resulting in a turnover of 10% or more of the Falcon Software
Support staff will be considered significant for these purposes.

Confidential                         Page 9                             8/7/2003

<PAGE>

                       APPENDIX A SERVICE LEVEL ESCALATION

In the event that a problem is not fixed, or an ETR not provided in the
timelines indicated in the table in section 5.3 of this SL Agreement, then such
problem may be escalated by either party to the Falcon Software Support Staff's
Group Supervisor, and to the appropriate Cendant Falcon Manager for prompt
resolution.

In the event that a problem is not fixed, or an ETR not provided in double the
time indicated in the table in section 5.3 of this SL Agreement, then such
problem may be escalated by either party to the Top Producer Software Support
Manager, and to the Cendant Falcon Manager for prompt resolution.

In the event that a problem is not fixed, or an ETR not provided in the
quadruple the time indicated in the table in section 5.3 of this SL Agreement,
then such problem may be escalated by either party to the Top Producer General
Manager of Operations, and to the Cendant Falcon Director.

Escalation beyond the management level indicated above will be at the discretion
of the Top Producer General Manager of Operations, and the Cendant Falcon
Director.

At all steps in this escalation process, the parties shall use commercially
reasonable efforts to have a written log maintained by each individual involved
as to when an escalation contact is established, and who that contact is at that
time. These logs will be submitted, in writing or electronically, to the Falcon
Software Support Staff's Group Supervisor for inclusion in notes maintained on
the CRM system in use for all Falcon problem tracking.

When a problem is escalated through the above process, the Cendant Management
representative involved (with reasonable assistance from Top Producer) will
carry out any required communications with the customer as to the status of this
issue. Decisions to communicate Severity 1 and 2 problems broadly to the user
base will be made by the Cendant Management Representative involved.

Nothing in this Appendix A is intended to relieve Top Producer or the Falcon
Software Support Staff of its obligations to comply with the terms of the
Agreement and/or the response and cure periods set forth in this SL Agreement.

Confidential                         Page 10                            8/7/2003

<PAGE>

       APPENDIX B - CENDANT & TOP PRODUCER TECHNICAL CONTACT INFORMATION:

<TABLE>
<S>                        <C>         <C>                <C>                   <C>                <C>
-------------------------------------------------------------------------------------------------------------------------------
Rubenstein, Meade          READ        Parsippany, NJ     Director - READ       973-496-7498       Meade.rubenstein@cendant.com
-------------------------------------------------------------------------------------------------------------------------------
Pagano, Tom                IBS         Parsippany, NJ     Director              973-496-5812       Tom.Pagano@cendant.com
-------------------------------------------------------------------------------------------------------------------------------
McCready, Steven           TP          Richmond, BC       Site Operations       604-244-5665       smccready@topproducer.com
                                                          Manager
-------------------------------------------------------------------------------------------------------------------------------
McPherson, Jaimie          TP          Richmond, BC       Director of           604-270-8819       jmcpherson@topproducer.com
                                                          Development           (x 8132)
                                                          Processes
-------------------------------------------------------------------------------------------------------------------------------
</TABLE>

Confidential                        Page 11                             8/7/2003

<PAGE>

                                   EXHIBIT B

                TOP PRODUCER ONLINE AND FALCON SOFTWARE PRODUCTS

"Top Producer Online" and "Top Producer Online software products" shall mean the
World Wide Web-enabled application service provider (or, "ASP") product composed
of the following:

-    iTP (Internet Top Producer)

-    iCMA (Internet Comparative Market Analysis) - Manual CMA for Agents

-    iTop Broker

-    iFD (Internet Front Desk)

-    Broker Advanced Report Writer

-    iBO (Internet Back Office)

-    iTPP (Internet Top Producer for the Palm) - for broker and agent

-    iSC (Internet Service Center)

-    iLM (Internet Lead Manager)

-    iAF (Internet Account Foundation)

-    FT (Franchiser Tools)

-    BT (Broker Tools)

-    MA (My Account)

-    iTC (Internet Top Connector)

-    CSS (Customer Support System/Agent billing system), excluding third party
     components or customizations thereto which Homestore does not otherwise
     have the right to provide to Cendant.

-    LTS (Leads Transmission Specification)

-    Broker Leads Toolkit - This allows leads to be integrated from websites to
     ILM

"Falcon" and "Falcon software products" shall mean Falcon Release 3 as described
in the Falcon Master Release Plan, version 1.0, and as further described in the
Falcon Scope Specification, version 1.6, both of which are attached hereto as
Exhibits C and D, respectively.

<PAGE>

                                    EXHIBIT C

                    FALCON MASTER RELEASE PLAN (VERSION 1.0)

<PAGE>

CENDANT CORPORATION                                           THE FALCON PROJECT
TOP PRODUCER SYSTEMS

                                                                [LOGO OF FALCON]

                           Falcon Master Release Plan

                                 Version No: 1.0

                        Authors: C. Jackson/J. McPherson

<PAGE>

                                 VERSION HISTORY

<TABLE>
<CAPTION>
---------------------------------------------------------------------------------------------
                                             ADD/
                                             MODIFY/
NO.      DATE                 SECTION NO.    DELETE        DESCRIPTION           AUTHOR(S)
---------------------------------------------------------------------------------------------
<S>      <C>                  <C>            <C>           <C>                   <C>
1.0      Aug, 26, 2002        All            All           Revised to reflect    J. McPherson
                                                           decision to deliver
                                                           Falcon Broker to CB
                                                           and ERA sooner and
                                                           to include the
                                                           Advanced Reporting
                                                           feature, to remove
                                                           RiTP and to remove
                                                           First Flight
                                                           Migration.
---------------------------------------------------------------------------------------------
0.9      Feb, 1, 2002         All            All           Revised to reflect    J. McPherson
                                                           the decision to
                                                           include Agent
                                                           Billing and to
                                                           reflect the
                                                           subsequent
                                                           re-planning.
---------------------------------------------------------------------------------------------
0.8      Oct, 31, 2001        All            All           Revised to reflect    J. McPherson
                                                           project situation,
                                                           reflects a
                                                           significant, as yet
                                                           not agreed to,
                                                           movement of the R3
                                                           plan.
---------------------------------------------------------------------------------------------
0.7      Aug, 12, 2001        All            All           Revised to reflect    J. McPherson
                                                           project work and
                                                           project decisions
---------------------------------------------------------------------------------------------
0.6      Jan, 31, 2001        All            All           Sixth Draft,          J. McPherson
                                                           reflects further
                                                           Golden & Falcon
                                                           planning.
---------------------------------------------------------------------------------------------
0.5      Dec, 13, 2000        All            All           Fifth draft           C. Jackson,
                                                                                 J. McPherson
---------------------------------------------------------------------------------------------
0.4      Dec, 12, 2000        All            All           Fourth draft          C. Jackson,
                                                                                 J. McPherson
---------------------------------------------------------------------------------------------
0.3      Dec, 11, 2000        All            All           Third draft           C. Jackson,
                                                                                 J. McPherson
---------------------------------------------------------------------------------------------
0.2      Dec, 8, 2000         All            All           Second Draft,         C. Jackson,
                                                           reflects meetings on  J. McPherson
                                                           Dec.6 - 8, 2000
---------------------------------------------------------------------------------------------
0.1      Dec 4, 2000          All            All           First Draft           J. McPherson
---------------------------------------------------------------------------------------------
</TABLE>

<PAGE>

                               VERSION APPROVALS

<TABLE>
<CAPTION>
------------------------------------------------------------------------------------------
NO.           DATE             STATUS                     APPROVER             SIGNATURE
                                                                             (On hardcopy)
------------------------------------------------------------------------------------------
<S>           <C>              <C>                        <C>                <C>
------------------------------------------------------------------------------------------

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

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

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

------------------------------------------------------------------------------------------
</TABLE>

<PAGE>

                               TABLE OF CONTENTS

<TABLE>
<S>      <C>                                                                                                  <C>
1        INTRODUCTION...................................................................................       6
1.1      Purpose of this Document.......................................................................       6
1.2      Scope..........................................................................................       6
1.3      Project Vision.................................................................................       7
1.4      Project Approach...............................................................................       7
1.5      Project Deliverables...........................................................................       8
1.5.1    Associate Products.............................................................................       8
1.5.2    Affiliate Functionality........................................................................       8
1.5.3    Integration....................................................................................       9
1.6      Definitions, Acronyms and Abbreviations........................................................      10
1.7      References.....................................................................................      11

2        PROJECT ORGANIZATION...........................................................................      12
2.1      Process Model..................................................................................      12
2.1.1    Multi-staged development.......................................................................      12
2.1.2    Individual Release Projects....................................................................      12
2.1.3    Risk Management................................................................................      12
2.1.4    Change Control.................................................................................      13
2.1.5    Quality Assurance..............................................................................      14
2.1.6    Software Integration Process...................................................................      14
2.2      Project Organization...........................................................................      15
2.2.1    Cendant........................................................................................      15
2.2.2    Top Producer...................................................................................      17
2.2.3    Working Together...............................................................................      18
2.3      Organizational Boundaries and Interfaces.......................................................      19

3        MANAGEMENT CONSIDERATIONS......................................................................      21
3.1      Key Assumptions, Dependencies, and Constraints.................................................      21
3.2      Monitoring and Control.........................................................................      21
3.3      Deployment.....................................................................................      22
3.4      Training.......................................................................................      23
3.5      Technical Support Planning.....................................................................      23
3.6      Recovery Planning..............................................................................      23

4        MASTER TIMETABLE...............................................................................      24

5        APPENDICES.....................................................................................      26
5.1      Release Statement 1............................................................................      26
5.2      Release Statement 2............................................................................      27
5.3      Release Statement 3a, 3c & 3d..................................................................      28
5.4      Release Statement 3b, 3e & 3f..................................................................      29

6        ATTACHMENTS....................................................................................      31
6.1      Falcon Key Actions/Decisions List..............................................................      31
6.2      Falcon Change Request Template.................................................................      31
6.3      Falcon Project Risk Matrix.....................................................................      31
6.4      Falcon Project Team............................................................................      31
6.4.1    Cendant Falcon Project Team....................................................................      31
6.4.2    Top Producer Falcon Project Team...............................................................      31
6.5      Falcon Release 1 Branding & Customization Specification........................................      31
6.6      Falcon Release 1 Joint Project Plan............................................................      31
6.7      Falcon Release 2 Customization Specification...................................................      31
6.8      Falcon Release 2 Joint Project Plan............................................................      31
6.9      Falcon Release 3a Customization Specification..................................................      31
6.10     Falcon Release 3a Joint Project Plan...........................................................      31
</TABLE>

<PAGE>

<TABLE>
<S>      <C>                                                                                                  <C>
6.11     Falcon Release 3b Customization Specification..................................................      32
6.12     Falcon Release 3b Joint Project Plan...........................................................      32
6.13     Falcon Release 3c Customization Specification..................................................      32
6.14     Falcon Release 3c Joint Project Plan...........................................................      32
6.15     Falcon Release 3d Customization Specification..................................................      32
6.16     Falcon Release 3d Joint Project Plan...........................................................      32
6.17     Falcon Release 3e Customization Specification..................................................      32
6.18     Falcon Release 3e Joint Project Plan...........................................................      32
6.19     Falcon Release 3f Customization Specification..................................................      32
6.20     Falcon Release 3f Joint Project Plan...........................................................      32
</TABLE>

<PAGE>

1        INTRODUCTION

FALCON is a collaborative technology initiative between Top Producer Systems and
CENDANT Real Estate that provides the Cendant Real Estate brands - Century 21,
Coldwell Banker and ERA - with a branded and customized version of the Top
Producer Online system. The Top Producer Online System is a series of web-based
sales associate and affiliate technology products that provide automated
productivity and marketing tools to real estate professionals. These integrated
products from Top Producer further integrated with Cendant information systems
and other technology products are the essence of the FALCON offering.

Falcon is a large, diverse undertaking that will be developed over a 2 1/2-year
timeframe that will be delivered in a series of "Releases" or delivery stages.
Each of these "Releases" will provide a progressively richer feature set to the
Cendant Affiliate/Associate community.

1.1               PURPOSE OF THIS DOCUMENT

The primary purpose of this document is to capture the Master Plan for Falcon's
development. This Master Plan consists of:

-    A description of how Falcon will be developed (section 2, Project
     Organization)

-    A description of how Project Falcon will be jointly managed (section 3,
     Managerial Processes)

-    A description and definition of the Master Timetable

-    A specific definition of the contents of all releases, captured as the
     Release Statements in the Appendices

This document will also serve as the highest-level defining project plan
document for the delivery of Falcon. This document will be approved at senior
levels in Cendant, Homestore and Top Producer. Subsequent to approval, this
document will be placed under Change Control and used to guide all major aspects
of the project.

1.2               SCOPE

The scope of this document is the entire project scope of Falcon.

While this document's scope is all of project Falcon, it does not contain
detailed plans for each of Falcon's releases or deliverables. Rather, those
detailed plans are defined by this Master Release Plan document and will be
created as part of the execution of the plan defined in this document.

<PAGE>

1.3               PROJECT VISION

Falcon will provide the Cendant Real Estate membership with an integrated
Affiliate/Sales Associate* system that is a turnkey technology solution. Through
the use of integrated modules, real time information and streamlined data flow,
Cendant Real Estate Affiliates and Sales Associates will enjoy efficiency in
numerous real estate business processes with little or no cost. This offering
will greatly reduce barriers to utilizing technology by lessening the need for
individual technology research and investment. Falcon additionally endeavors to
provide income opportunities to affiliates through connections with Cendant
Corporation, its Real Estate brands and its other business units. The system
will also provide the single platform for all Cendant membership through which
Cendant will continue to deliver technology solutions, industry knowledge and
connectivity to its Affiliates and Sales Associates.

1.4               PROJECT APPROACH

Falcon will be created through the customization of a series of Top Producer
Online web products and the integration of these products with certain Cendant
Real Estate information systems. The Top Producer Online products, sometimes
referred to as the Generic products, will be:

-    Customized to give each Cendant brand a specific "look and feel"

-    Customized to perform certain Affiliate and Associate functions in a
     Cendant specific manner

-    Branded by including Cendant brand specific content and identification

-    Customized to integrate with the Crest system

The functionality produced by this, customizing and integration of Top Producer
Online is scoped by reference 1, the Falcon Scope Specification (Section 1.7).
Detailed descriptions of the customization and integration will be specified
over the course of project Falcon in a series of Falcon Release Customization
Specifications that will be developed for each Release.

Falcon will be developed over the course of four major releases that are
described in Section 5, Appendices. Each of these releases will be organized to
operate as a stand-alone project with an assigned project team, specification
(defined as the pertinent Falcon Release Customization Specification) and
project plan (defined as the pertinent Falcon Release Joint Project Plan).

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

* Cendant refers to its member brokers as "Affiliates" and its real estate
agents as "Sales Associates".

<PAGE>

1.5               PROJECT DELIVERABLES

1.5.1             ASSOCIATE PRODUCTS

Falcon's Associate functionality will be delivered through the delivery of
branded and customized variants of the following products:

INTERNET TOP PRODUCER

Internet Top Producer (iTP) is the code name for the Top Producer Internet Sales
associate product. iTP will provide a complete suite of Sales associate and
assistant functionality similar to that currently available in Top Producer 6i.
iTP will be entirely browser based and will utilize Internet/ASP, server based
software to perform its functions.

INTERNET TOP PRODUCER FOR THE PALM

Internet Top Producer for the Palm (iTPP) is a Palm platform based product that
allows users access to Contact Management, Scheduling, Listing and Closing
Management, Referral Management and Lead Management through a synchronized Palm
Pilot PDA device.

INTERNET CMA

Internet CMA (iCMA) is an iTP accessory that allows users to prepare Comparative
Market Analysis reports within a browser-based environment in conjunction with
iTP.

1.5.2             AFFILIATE FUNCTIONALITY

Falcon's Affiliate functionality will be delivered through the delivery of
branded and customized variants of the following products:

INTERNET BACK OFFICE

Internet Back Office (iBO) is the code name for the Top Producer Brokerage back
office product. IBO will provide much of the functionality currently available
in the First Flight product. A key goal of iBO is to supply a complete "back
office" brokerage office tool.

INTERNET FRONT DESK

Internet Front Desk (iFD) is the code name for the Top Producer Broker Front
Desk Internet product. iFD is designed for use by front desk personnel,
management and a limited use by Sales Associates. The purpose of iFD is to
support the "Front Desk" operations of the brokerage office by capturing
incoming calls, scheduling appointments for Sales associates, tracking office
inventory's keys and showing schedules.

INTERNET LEAD MANAGER

Internet Lead Manager (iLM) is the code name for the Top Producer Broker Lead
and Referral management product. iLM is designed for use by office personnel and
management. The purpose of iLM is to support the Lead Management operations of
the brokerage office through allowing leads to be manually or automatically
assigned to Sales Associates and through tracking the Associates handling of the
Lead. The ILM will also provide Brokerage Referral Management functions.

INTERNET SERVICE CENTER

Internet Service Center (iSC) is the code name for the Top Producer Broker
Service Center Internet product. The Service Center(TM) provides Affiliates and
Associates with an automated

<PAGE>

workflow application that facilitates the tracking and incubation of leads and
referrals within a Brokerage and in co-ordination with the Associates in that
Brokerage.

1.5.3             INTEGRATION

In addition to the products outlined above, a key deliverable for the Falcon
project will be an architecture that supports the integration of the Top
Producer Online products with certain Cendant real estate systems and with
certain third party products. In the interest of accomplishing "one-time data
entry" for sales associates and affiliates, data will flow seamlessly through
key entry points of the system and populate common fields and records of each
component of the Falcon system as appropriate. Data entered by sales associates
through sales associate tools or information entered by office staff using a
Front Desk product will, as an example, flow through to populate the affiliate
database. It will additionally populate Cendant systems that record and monitor
transactional information and revenue obligations, track referral situations and
transfer property listing information to the Cendant brand consumer websites.
Allowing real estate transactions to flow from inception through closing with
minor re-entry of data is key to the success of Falcon.

An integration specification will be created to detail the interaction between
Top Producer Online customized for Cendant and the Cendant CREST systems. This
document, however, will be the result of collaborative efforts between Cendant
and Top Producer Falcon teams that will identify, analyze and determine the best
methodologies, approaches and standards by which integration is to be
accomplished. A similar specification will be developed by Great Plains, Inc. in
the same collaborative manner with the Falcon teams to allow Great Plains
accounting software to interface with the Falcon system for those affiliates who
which to utilize the Great Plains accounting product. Great Plains will work
with the Falcon team to plan and develop logical points of integration between
the two systems.

Phases of integration among the various products and systems are inherent in the
Release Statements based on the products being delivered within each release
project and the manner in which they will be delivered to affiliates and sales
associates.

<PAGE>

1.6               DEFINITIONS, ACRONYMS AND ABBREVIATIONS

<TABLE>
<S>                             <C>
--------------------------------------------------------------------------------------------
Affiliate                       Cendant term for a Broker.
--------------------------------------------------------------------------------------------
Associate                       Cendant term for a Sales associate.
--------------------------------------------------------------------------------------------
Business Requirement            Requirement that is based on business conditions or need.
--------------------------------------------------------------------------------------------
Component                       Major functional element in the Falcon system.
--------------------------------------------------------------------------------------------
Falcon Release Customization    Specification that defines the customization to be performed
Specification                   for a particular Falcon release. Defines the entire product
                                scope of a Falcon Release.
--------------------------------------------------------------------------------------------
Falcon Release Joint Project    Plan that identifies and plans all work and establishes a
Plan                            timeline for a particular Falcon release. Defines the entire
                                work scope of a Falcon Release.
--------------------------------------------------------------------------------------------
Feature                         Specific aspect or function of a Component.
--------------------------------------------------------------------------------------------
GCI                             Gross Commission Income
--------------------------------------------------------------------------------------------
Generic                         Product Another term for the Top Producer Online
                                web products before Cendant specific and
                                Customization.
--------------------------------------------------------------------------------------------
Lead                            A contact that has been passed to an Affiliate
                                or Associate and where the passing of the
                                contact does not imply that there will be monies
                                paid to the source of the contact. A lead passed
                                to an Associate by an Affiliate may however,
                                imply that the Associate will receive a lower
                                commission in the event of a sale.
--------------------------------------------------------------------------------------------
LTS                             Lead Transmission Standard, a standard for the
                                transmission of Real Estate Leads over the
                                Internet.
--------------------------------------------------------------------------------------------
MCA                             Mobile Computing Application. Term that refers
                                to Associate Applications executing on Mobile
                                Computing Platforms such as Palm Platforms or
                                Web enabled phones.
--------------------------------------------------------------------------------------------
MLS                             Multiple Listing Service
--------------------------------------------------------------------------------------------
MOB                             Multiple Office Broker
--------------------------------------------------------------------------------------------
NAR                             National Association of Realtors
--------------------------------------------------------------------------------------------
NRT                             National Real Estate Trust.
--------------------------------------------------------------------------------------------
Offline                         Operational Mode of the Associate Component when
                                the Component does not have an Internet
                                connection to the server based components.
--------------------------------------------------------------------------------------------
Online                          Operational Mode of the Associate Component when
                                the Component does have an Internet connection
                                to the server based components.
--------------------------------------------------------------------------------------------
Referral                        A referral is a contact that implies that,
                                should the referral result in a sale, the
                                referral recipient is obliged to pay monies to
                                the source of the referral. The referral fee may
                                be a flat fee or a percentage of the commission.
--------------------------------------------------------------------------------------------
Sales Associate (SA)            Cendant term for a Sales associate.
--------------------------------------------------------------------------------------------
</TABLE>

<PAGE>

1.7      REFERENCES

<TABLE>
<CAPTION>
--------------------------------------------------------------------------------------------------------
No:                            Title                                            Author
--------------------------------------------------------------------------------------------------------
<S>       <C>                                                    <C>
1         Falcon Scope Specification                             J. McPherson, Top Producer Systems Inc.
           Version 1.6
--------------------------------------------------------------------------------------------------------
2         FINAL TOP PRO 10-27_. doc (Falcon Software License     Homestore/Cendant
          Agreement)
--------------------------------------------------------------------------------------------------------
3         TPOnline Architecture                                  D. Adithan, Top Producer Systems Inc.
           Version 13
--------------------------------------------------------------------------------------------------------
</TABLE>

<PAGE>

2        PROJECT ORGANIZATION

2.1               PROCESS MODEL

Falcon will be developed using a multi-stage development project model
(described below) and will be managed as a program consisting of four major
releases (also described below).

2.1.1             MULTI-STAGED DEVELOPMENT

The Falcon project shall be delivered by means of a series of four major
releases or stages. The functional content of these releases is initially
defined in the Release Statements (see Section 5, Appendices). The Falcon
project has been logically segmented into these Release Projects for ease of
management and delivery. Each project represents a significant effort and is
critical to the overall completion to the Falcon initiative.

All release projects will be governed by this document's process descriptions,
the Master Time Line (Section 4) and the Release Statements (Section 5,
Appendices). A Customization Specification and a Joint Project Plan developed by
Cendant and Top Producer will specifically define each release project.

While each release will be more specifically defined in other documents, this
document will remain as the governing program document and will be used in the
Program Management of the entire Falcon project. For example: The Master Time
Line and Release Statements will be used by Program Management for reporting
program progress to senior business management. As a result of this
relationship, each release's scope (contained in the Release Customization
Specification and plan (contained in the Release Joint Project Plan) will be
required to maintain consistency with this document. If a particular project
requires a change in its scope or plan, Falcon Program Management must be
consulted and this document will be amended under the Change Control processes
defined below.

The work of all teams shall be coordinated and monitored by Program Management
reporting to senior business management.

2.1.2             INDIVIDUAL RELEASE PROJECTS

Each release project will have its own scope, Customization Specification and
Joint Project Plan including release milestones within the overall work plan.
Each project team will be primarily responsible for their release but will work
in parallel with other release teams and third party application teams as
appropriate. Each release project will utilize a waterfall with feedback
development approach.

Within each release project, in addition to a project manager, the team will be
comprised of component "experts" who will move from release team to release team
as subsequent versions of that subject component are developed and deployed.

2.1.3             RISK MANAGEMENT

Risk Management will be performed through identifying each risk, weighing the
risk's probability and impact, identifying mitigation strategy(s) and jointly
weighing if the risk can be averted. All

<PAGE>

projects are required to perform risk management and to maintain an active risk
matrix. Falcon program management will maintain a summary Falcon Risk Matrix
derived from the release Project Risk Matrixes with the addition of risks
identified by program management. The summary Falcon Risk Matrix will be
utilized in reporting overall Falcon status to senior management.

The Falcon Project Risk Matrix template is included as Attachment 6.3 to this
document.

2.1.4             CHANGE CONTROL

To ensure that change during a project is accommodated in an orderly manner, all
Falcon projects will use a Change Control Process.

Change Control Processes will be active at two levels;

-    At the Program Management level if the change requested is of such
     magnitude as to affect the overall program and/or any of the following
     documents: Falcon Software Licensing Agreement, Falcon Scope Specification,
     Falcon Master Release Plan (this document and its appendices).

-    At an individual release project level if the change affects an individual
     release and/or the Customization Specification, Joint Project Plan or
     subsequent documents.

At either level, all changes in project work items that impact the project
scope, size, complexity or schedule will be documented and administered by this
Change Control process. It will be the responsibility of the Program Managers to
recognize those changes that affect the overall Falcon program management and
resolve those situations through initiation of Change Requests for the affected
release projects or revision to the initial Change Request so as not to impact
the other projects.

All Change Requests that impact scope, size, complexity and/or schedule will be
reviewed by a Change Control Board (CCB), jointly chaired by the Cendant
Technical Program Manager and the Top Producer Falcon Program Manager in
conjunction with the Cendant Business Program Manager.

The review process of all Change Requests will be as follows:

1.       Identify the requested change.

2.       Analyze the impact of the requested change.

3.       Estimate time and cost adjustment caused by the change - time and cost
         adjustments will be made based on the following criteria:

         -    An understanding of the resources and steps needed to address the
              requested change.

         -    An estimation of the effect on dependent tasks in the schedule, on
              the critical path and on the overall schedule.

         -    An estimation of the budgetary implications of the change.

4.       Justification of benefits of the requested change vs. the time and
         cost.

5.       As warranted, preparing an amended version of the milestones and
         deliverables schedule that reflects the agreed upon change.

Change Request forms will be used. Should the impact of the change warrant
alterations to the schedule and or budget, these issues will also be noted on
the Change Request form in detail. Upon agreement of a proposed change, a formal
change order will be administered and signed by both Cendant and Top Producer.

The Falcon Change Request template is included as Attachment 6.2 to this
document.

<PAGE>

2.1.5             QUALITY ASSURANCE

Each organization will be responsible for the Quality Assurance and particularly
the quality assurance testing of their respective deliverables (internal
testing). Quality Assurance plans will be approved by both the Release Project
Manager and Program Management and will be available for review and discussion
as necessary.

In addition to internal testing, a Quality Assurance plan will be jointly
developed that will select affiliate offices that meet a predetermined profile
to conduct "end to end" system testing. This testing will include processing
data from Falcon through Cendant legacy systems. The testing will include
parallel processing with live production data. Customers will be selected based
on their size, computing environments and ability to actively participate in an
in-depth test over the course of at least one monthly processing cycle.

Mechanisms, comprised of both processes and systems, will be utilized to ensure
detailed tracking, reporting and resolution of all incidents discovered during
the development lifecycle and QA process. Each development team will use
separate incident tracking systems. Each team will submit a report of incidents
that have not been resolved within 1 week of discovery if those incidents affect
project milestone schedules or release dates. A separate mechanism will be
implemented to provide adequate software version control and stability.

Post-implementation incidents and enhancements will be recorded and prioritized
using the same tracking mechanisms established for the development lifecycle and
QA process.

2.1.6             SOFTWARE INTEGRATION PROCESS

A key objective of the Falcon system is to provide a seamless flow of data
throughout the components of Falcon and related systems.

An in depth analysis will be performed for each integration point between
TPOnline, Cendant systems and other third party applications and an integration
specification document will be developed by the prime Cendant development team
based on the decisions of the collaborative analysis performed between subject
applications. The document will also analyze and identify any impact to other
systems interfacing with the Falcon product.

A technical sponsor from each third party system will be required to develop
integration specifications in conjunction with the Falcon project team and
perform specified modifications to applications and all unit and integration
testing through the subject application.

<PAGE>

2.2               PROJECT ORGANIZATION

The overall Falcon project will be accomplished through the collaborative
efforts of the Cendant Falcon project team and the Top Producer Falcon project
team.

2.2.1             CENDANT

The Cendant Falcon project team will consist of two major divisions - the
technical division and the business division - with supporting teams.

The Technical Division will be managed by a Technical Program Manager and will
be responsible for management and coordination of all technical aspects of the
project as it relates to Cendant's responsibilities including but not limited
to:

-    Supervision of overall product development and deployment

-    Coordination and monitoring of site environment establishment

-    Interaction with Top Producer technical and project management staff

-    Management and supervision of all third parties and integration tasks

-    Supervision of Quality Assurance tasks including beta testing with
     customers

-    Management of Recovery Plan development and testing

-    Management of technical system support

-    Review and approval of Change Requests

-    Interaction with Cendant Senior Management as appropriate with relation to
     the Falcon project

The Business Division will be managed by a Business Program Manager and will be
responsible for management and coordination of all business aspects of the
project as it relates to Cendant's responsibilities including but not limited
to:

-    Coordination and supervision of all communication regarding Falcon
     components, features, functionality and benefits

-    Interaction with Cendant Real Estate brands and internal staff for
     information sharing, product positioning and communications to external
     customers

-    Interaction with Cendant Franchise Sales and Administration for information
     sharing, product positioning and communications to external customers

-    Supervision, creation and monitoring of all training and education aspects
     of the Falcon project.

-    Interaction with Top Producer technical and project management staff

-    Management and coordination of Cendant Broker Advisory Council

-    Review and approval of Change Requests

-    Interaction with Cendant Senior Management as appropriate with relation to
     the Falcon project

The Technical Program Manager and the Business Program Manager will coordinate
and collaborate on a daily basis to ensure that all tasks and events of the
project are managed according to plan and schedule.

The Technical Division shall be structured as follows:

MANAGER OF AFFILIATE PRODUCT - shall be responsible for supervision of all
aspects of the Falcon affiliate product, feature set and functionality. The
manager shall coordinate and supervise quality assurance and testing tasks
including the selection and monitoring of beta tests with selected

<PAGE>

Cendant affiliates. The manager shall collaborate with the other managers of the
Falcon project to appoint and supervise test/release teams to support each
release of the Falcon project.

MANAGER OF SALES ASSOCIATE PRODUCT - shall be responsible for supervision of all
aspects of the Falcon sales associate product, feature set and functionality.
The manager shall coordinate and supervise quality assurance and testing tasks
including the selection and monitoring of beta tests with selected Cendant sales
associates. The manager shall collaborate with the other managers of the Falcon
project to appoint and supervise test/release teams to support each release of
the Falcon project.

MANAGER OF FALCON INTEGRATION - shall be responsible for supervision of all
aspects of Falcon integration with other applications including but not limited
to CREST, CGRN, Broker Center and Great Plains and other accounting packages.
The manager shall coordinate and supervise quality assurance and testing tasks
including the selection and monitoring of beta tests with selected Cendant
affiliates and sales associates. The manager shall collaborate with the other
managers of the Falcon project to appoint and supervise test/release teams to
support each release of the Falcon project.

MANAGER OF QUALITY ASSURANCE - shall be responsible for coordination of all QA
teams of the project including those of third party teams. The manager will
assure that all testing from various teams and system components is done in a
standardized manager and according to predetermined QA plans. They will also be
responsible in alerting project management if the QA process has been
compromised in any fashion, the quantity and nature of Severity Level 1 and 2
incidents, reviewing and validating reported issues, approving the product(s)
and product integration for release. They will also assist in the coordination
of beta testing with affiliates and sales associates as required.

ANALYTICAL STAFF - shall be assembled as appropriate to monitor and support each
scheduled release. The staff shall participate in application analysis,
development of feature specifications, development of project and test plans,
development of test data and application testing and coordination of deployment.

Each planned release shall be managed by one of the project managers with select
analytical staff assigned to the assembly and coordination of that release. Due
to the continual quarterly release approach, several teams will be working in
parallel during the lifecycle of the project.

SITE ENGINEER - a Site Engineer from the primary site system location shall be
assigned to and responsible to the technical program manager for the creation of
the Falcon site environment. The Site Engineer shall collaborate with the
project development teams to assembly the system hardware and connectivity
environment, perform capacity analysis, manager hardware and connectivity
component procurements, supervise site setup and stabilization and develop
operational procedures.

The business division shall be structured as follows:

MANAGER OF TRAINING AND EDUCATION - shall be responsible for the development,
deployment and execution of all training and education related to the Falcon
system and its components. This will include the creation of course curriculums,
content and delivery through established training delivery mechanisms. The
manager will be responsible for the training applications procured for this
purpose.

MANAGER OF COMMUNICATIONS/MARKETING - shall be responsible for the creation of
all product and system information to be communicated to the brands, their
franchisees and sales associates. The manager will work with the Cendant and
brand marketing departments to ensure consistency in delivery of information to
end users of the system.

<PAGE>

FRANCHISE SALES LIAISON - shall be responsible for conveying information
regarding the Falcon offering to Franchise Sales staff and potential
franchisees. The liaison shall keep abreast of the status of product releases,
release content, product functionality, planned enhancements to assist all
Franchise Sales efforts regarding Cendant Real Estate technology strategies and
plans. The liaison shall further be instrumental in the establishment of Falcon
"showcase" sites for practical demonstration of the Falcon system benefits to
potential affiliates.

BRAND IT DIRECTORS (3) - shall be responsible for conveying all information
regarding Falcon to their respective Cendant real estate brand. The Director
shall keep abreast of the status of product releases, product functionality and
deployment plans. They shall further collaborate and assist with the development
of brand specific content and communications to ensure consistent information to
brand personnel and membership.

Several positions shall have dual reporting responsibility to both the business
and technical program managers for the overall coordination of the Falcon
project.

FALCON DEPLOYMENT MANAGER - shall report to both the technical and business
program managers to provide collaboration for the coordination of registration
from Cendant affiliates, processing of affiliate registration through
orientation, training and delivery of logons and passwords. The manager shall
also be responsible for upkeep of the registration database tracking the
progress and support of each affiliate and sales associate utilizing the system.

PROJECT OFFICE MANAGER- shall be responsible for the tracking and reporting of
all financial and statistical information for the project. The manager will also
be responsible for analyzing the project plan and status against expenditures
and projected expenses and assisting with the review of project plans and
progress against stated deliverables and milestones. The manager will report
financial and statistical status to the program managers on a regular basis.

ADMINISTRATIVE ASSISTANCE - will be required by both Program managers for the
day-to-day support of their role and work effort.

2.2.2             TOP PRODUCER

The Falcon team described here identifies only that staff specifically assigned
to Falcon and does not include that staff assigned to Top Producer's Top
Producer Online Internet Product developments.

FALCON PROGRAM MANAGER - shall be responsible for overall Falcon Program
Management at Top Producer. Maintains Falcon Scope Specification, Falcon Master
Release Plan and all other program level materials. Works with Cendant Technical
and Business Program managers in monitoring program and in reporting to senior
management. Responsible for working with Falcon Product Manager and Release
Project Managers to establish plans, specifications and designs for all Falcon
projects. Shall also be responsible for the review and approval of Change
Requests.

FALCON PRODUCT MANAGER - shall be responsible for overall Falcon Product
definition at Top Producer. Works with Falcon Program Manager to maintain Falcon
Scope Specification, Falcon Master Release Plan and all other program level
materials. Works with Cendant Technical and Business Program managers in
monitoring program and reporting to senior management. Prime responsibility for
supporting Cendant in establishing Release Customization Specifications, for
reconciling and customization requests with generic product functionality and
for guiding product functionality. Review and approval of Change Requests.

FALCON RELEASE PROJECT MANAGER(S) - role assigned for each of Falcon's four
releases, likely will require three active over the course of the Falcon
program. Shall be responsible for the planning

<PAGE>

and day-to-day management of a Falcon release and associated deliverables. Will
work with Technical Leads in the management of Top Producer development staff
assigned to a release project.

TECHNICAL LEAD(S) - role assigned for each of Falcon's four releases, likely
will require two active over the course of the Falcon program. Responsible for
the overall design of a release and for the technical leadership of Top Producer
development staff assigned to a release project. Will work with Release Project
Manager in the management of Top Producer staff assigned to a release project.

QUALITY ASSURANCE LEAD(S) - role assigned for each of Falcon's four releases,
likely will require three active over the course of the Falcon program.
Responsible for the leadership and management of all Top Producer Quality
Assurance activities and staff assigned to a release. Will take a leading role
in establishing Project Quality Assurance Plans, Test Plans and Scripts, in
tracking project quality and in issuing Project Quality Reports.

STAFF LEVEL - The management roles identified above and the staff reporting them
require Top Producer to commit 7 fulltime equivalents at project initiation and
approximately 30 fulltime equivalents within 6 months of project initiation.

2.2.3             WORKING TOGETHER

For each Release Project, various members of the above outlined organizations
will be assembled for the planning, development, integration and testing of the
deliverables of that project release. The release project team shall communicate
informally on a daily basis and formally in a weekly teleconference call to
ensure constant communication of progress, issues, decisions and areas of risk
as they are identified. The release project managers (Cendant and Top Producer)
will be responsible for jointly tracking the release project against the
Release's Joint Project Plan and the Customization Specification.

The Cendant and Top Producer Program Managers will hold a weekly Program status
meeting in which the Release Project Managers will report individual project
status.

A Falcon project website will be developed to allow sharing of information among
all teams and parties associated with the overall Falcon project. In addition,
separate sections on the site will be established for each release project team
so that information can be shared within and across each team.

<PAGE>

2.3               ORGANIZATIONAL BOUNDARIES AND INTERFACES

The following chart identifies organizations that will interact with the Falcon
team in the development and deployment of Falcon and their role in this
initiative:

<TABLE>
<CAPTION>
----------------------------------------------------------------------------------------------------
Organization                 Project Role                      Relationship                 Assigned
                                                                                            Person
----------------------------------------------------------------------------------------------------
<S>                          <C>                               <C>                          <C>
Cendant & Homestore Senior   Oversee, advise and approve       Project teams report to
Management                   project events                    this level
----------------------------------------------------------------------------------------------------
Cendant Real Estate Brands:  Provide brand specific business   Active communication and
COLDWELL BANKER              practices and approaches.         information exchange
CENTURY 21                   Market and communicate the        facilitated by project
ERA                          system benefits to membership.    management via the brand
                             Identify brand specific           IT Directors
                             technology requirements to the
                             project team.
----------------------------------------------------------------------------------------------------
Cendant Real Estate          Understand Falcon offering and    Active communication and
Franchise Sales              its benefit to franchisees and    information exchange
                             sales associates. Assist in       facilitated by project
                             communicating the value of the    management and the
                             Falcon system to existing and     Franchise Sales liaison
                             potential users of the system.
----------------------------------------------------------------------------------------------------
CREST Project Team           Co-develop integration            Key player to integrated
                             specifications for CREST          development effort
                             integration, business rules,
                             performance benchmarks and
                             administrative functionality.
                             Provide development and QA
                             teams for system integration
----------------------------------------------------------------------------------------------------
Great Plains/DMS             Co-develop integration            Interact with project team
                             specifications for inclusion of   for Great Plains
                             Great Plains application in       integration
                             Falcon system for referral
                             functionality
----------------------------------------------------------------------------------------------------
Garden City                  Provide test and production       Interact with project team
                             site environments for Falcon      for the specification,
                             system                            procurement, establishment
                                                               and maintenance of site
                                                               hardware and connectivity
                                                               and operation of computing
                                                               environment
----------------------------------------------------------------------------------------------------
Cendant Affiliate Community  End user of affiliate product     Provide project team with
                             and integration effort            feedback on product
                                                               functionality. Offer
                                                               enhancement
----------------------------------------------------------------------------------------------------
</TABLE>

<PAGE>

<TABLE>
<S>                          <C>                               <C>                          <C>
                                                               recommendations
----------------------------------------------------------------------------------------------------
Cendant Sales Associate      End user of associate product     Provide project team with
Community                    and integration effort            feedback on product
                                                               functionality Offer
                                                               enhancement recommendations
----------------------------------------------------------------------------------------------------
Top Producer Quality         Supplies Quality Assurance and
Assurance Department         Quality Testing services to
                             project
----------------------------------------------------------------------------------------------------
Top Producer Development     Supplies base product from
Teams for Generic Top        which branded and customized
Producer Online product.     Falcon deliverables are built
----------------------------------------------------------------------------------------------------
Top Producer Multimedia      Supplies branded Multimedia
Department                   content
----------------------------------------------------------------------------------------------------
</TABLE>

<PAGE>

3        MANAGEMENT CONSIDERATIONS

3.1               KEY ASSUMPTIONS, DEPENDENCIES, AND CONSTRAINTS

ASSUMPTIONS

-    Adequate resources will be in place throughout the life of the project.

-    Senior management will be available as needed for key approvals and
     decisions.

-    Cendant brands will not plan or undertake similar or competing initiatives.

-    Technology platforms will not alter drastically during the development
     process.

-    Functionality will be delivered as outlined in Falcon Scope Specification
     and Falcon Release Statements.

-    No significant changes or enhancements are made to the CREST system.

DEPENDENCIES

-    Hardware and connectivity needed will be procured and in place according to
     schedule.

-    Each team treats all deliverables as priority items to keep within schedule
     and plan.

-    Consistent and constant communication of status, issues and events
     pertaining to project plans and schedules.

CONSTRAINTS

-    Aggressive timeline for delivery.

-    All personnel required not yet in place.

3.2               MONITORING AND CONTROL

PROJECT CONTROL

A team consisting of: the Cendant Technical Program manager, the Cendant
Business Program manager, the Top Producer Falcon Program Manager and the Top
Producer Falcon Product Manager will jointly control Falcon. This team will meet
weekly, via teleconferencing and will manage and monitor the project using the
processes described within this document. This group's activities will be
focused on organizing and directing their respective organizations to achieving
the milestones defined in the Master Timetable section of this document. This
weekly meeting will also include reporting on the status of active release
projects, review against the project plan, review of the Key Actions/Decisions
List, review of the Project Risk Matrixes and identification of accomplishments
and issues of that period.

This group will maintain the Key Actions/Decisions List containing all program
level actions and decisions. The Key Actions/Decisions List template and initial
draft is Attachment 6.1 to this document.

SCOPE CONTROL

The product scope of Falcon is defined in the Falcon Scope Specification
(reference 1). This document will be used in all product oriented scope
decisions; any changes in product scope will require a revision to this document
and the re-approval of it.

<PAGE>

The project scope of Falcon is defined in this document, the Falcon Master
Release Plan. This document will be used in all project oriented scope
decisions; any changes to project scope will require a revision to this document
and the re-approval of it.

The entire scope of Falcon is ultimately defined in the Falcon Software License
Agreement (Reference 2). Any ambiguities will be resolved through reference to
that document.

COST CONTROL

Each organization - Top Producer and Cendant - will be responsible for its own
cost control. Internal mechanisms established by each organization to monitor
and document labor costs, procurements and cost projections are not a part of
this plan. Each organization, however, will use prudent judgement and planning
to maintain costs as expected and will, as a part of good project management,
communicate any significant changes related to cost control that would adversely
affect the success and progress of the project.

3.3               DEPLOYMENT

GENERAL

As outlined in the Release Statements (Section 5, Appendices), products will, as
a general rule, be released in a designated quarter to one brand, and then
deployed to the remaining two Cendant real estate brands in the subsequent
quarter.

The initial brand chosen for the first release will need to remain the lead-off
brand through all Release Statements to have consistency in product generations,
migration, product "builds", training materials and communication vehicles.

ASSOCIATE PRODUCT

The sales associate product will be deployed to the sales associate through the
agreement of the Cendant affiliate who has registered to participate in the
Falcon program. Access to the sales associate product will be limited to those
sales associates whose Affiliates have authorized access through administrative
browser pages that are designed for this purpose. Administrative browser pages
will be accessed only through proper security protocol. As the sales associate
release is scheduled early in the Master Timeline, it will be necessary to have
affiliate registration occur at an early stage of the process in order to
facilitate deployment in a timely manner. Solely Cendant through a Master
Administrative page designed for this purpose will control access to the
administrative functions by an affiliate.

AFFILIATE PRODUCT

All affiliates will be required to register for the Falcon system utilizing the
registration/deployment workflow. The process described at a high-level is as
follows:

-    Affiliate registers for the system through the national brand Intranet site

-    Registration will be recorded in a database and an orientation package
     provided to the affiliate

-    The affiliate will register for and participate in training to learn how to
     administer the deployment of software to associates and on system use

-    Prior to activation on the system the affiliate must successfully complete
     training

-    Following training, the affiliate will be activated on the system and able
     to license associate technology for their company

-    Affiliates and their administrative staffs will be required to undergo
     subsequent training for each affiliate technology component of the system
     prior to activation.

<PAGE>

3.4               TRAINING

Falcon specific training materials and courses will be available to affiliates,
associates and Cendant staff through the Cendant Learning Management system. The
Cendant Learning Management System has been designed to allow students to
register for classes online and to keep a student online transcript that is
available to management and the student for review. Training is delivered
primarily through web based training curriculum (WBT). Students will be able to
participate in instructor-led WBT or self-paced asymmetric training available on
a 24X7 basis. Student can repeat classes and results will be recorded in the
students' online transcript.

Falcon will support an interface to the Cendant Learning Management System; the
release stages of that interface are described in the release statements
(Section 5, Appendixes).

3.5               TECHNICAL SUPPORT PLANNING

After deployment, Customer Support will be delivered via Top Producer
technicians based in Vancouver, Canada who have close proximity to the
development team to facilitate timely response to technical support issues.
Support technicians will be trained and certified in the Falcon product
components and also trained on the basic functionality of third party systems
that interact with affiliate and associate components. Toll-free support lines
with a separate and distinct phone numbers for each Cendant brand. The phone
system shall support the branching of calls between affiliates and sales
associates within each brand for more pertinent support assistance. In addition,
a separate line will be established for Cendant staff for quick access to
support personnel.

A separate Service Level Agreement document will be developed by Cendant and Top
Producer that will outline specific hours of operation for support, staffing,
problem escalation provisions based on severity level and issue tracking and
documentation. Metrics will be established as part of the agreement to identify
and track such items as number of calls, type of calls, duration of calls, time
to problem resolution, etc.

3.6               RECOVERY PLANNING

Because of the critical nature of the Falcon application, a Recovery Plan will
be developed that addresses the creation of a backup hot site where Falcon
operations can continue in the event of a disruption to processing at the
system's primary site. The plan will include the identification of the secondary
site, duplication of architecture and environment, emergency cutover procedures
and communications plan. The plan will also include initial as well as ongoing
testing procedures, scheduled transfers of data and system backups and schedules
of periodic test exercises.

<PAGE>

4        MASTER TIMETABLE

The timetable below outlines the major dates that will be used to track project
progress at a high level. It is expected that this table will be amended over
the course of the project as progress is made and as other major milestones are
identified.

The completion dates given are based on sufficient, dedicated fulltime staff
being in place to meet the labor demands of the joint project.

<TABLE>
<CAPTION>
------------------------------------------------------------------------------------------------
                 MILESTONE POINT                         PRIME/BACKUP PARTY           COMPLETION
                                                                                         DATE
------------------------------------------------------------------------------------------------
<S>                                                     <C>                           <C>
Falcon Master Release Plan (Initial Draft)              Cendant/Top Producer           12/15/00
------------------------------------------------------------------------------------------------
Falcon Project Initiation                               Cendant/Homestore              1/02/01
------------------------------------------------------------------------------------------------
Falcon Key Actions/Decisions List (Initial Draft)       Cendant/Top Producer           1/15/01
------------------------------------------------------------------------------------------------
Cendant/Homestore Master Operating Agreement Closure    Cendant/Homestore              2/15/01
------------------------------------------------------------------------------------------------
Falcon Master Release Plan (version 0.6)                Cendant/Top Producer           2/15/01
------------------------------------------------------------------------------------------------
Falcon Architecture and Interface Specification         Top Producer/Cendant           5/15/01
(version 1)
------------------------------------------------------------------------------------------------
Falcon Release 1 C21 Joint Project Plan                 Cendant/Top Producer           5/31/01
------------------------------------------------------------------------------------------------
Falcon Release 1 C21 Branding & Customization           Cendant/Top Producer           5/31/01
Specification
------------------------------------------------------------------------------------------------
Falcon Architecture and Interface Specification         Top Producer/Cendant           7/3/01
(version 1.2)
------------------------------------------------------------------------------------------------
Falcon Master Release Plan (version 0.7)                Cendant/Top Producer           8/1/01
------------------------------------------------------------------------------------------------
Falcon Scope Specification (version 1.4)                Top Producer/Cendant           8/1/01
------------------------------------------------------------------------------------------------
Falcon Release 2 Joint Project Plan                     Cendant/Top Producer           8/31/01
------------------------------------------------------------------------------------------------
Establishment of Falcon C21 production site             Cendant                        8/31/01
environment for Sales Associate component/
administration
------------------------------------------------------------------------------------------------
Falcon Architecture and Interface Specification         Top/Producer/Cendant           9/6/01
(version 1.3)
------------------------------------------------------------------------------------------------
Falcon Release 1 C21 Limited Release                    Top Producer/Cendant           10/10/01
------------------------------------------------------------------------------------------------
Falcon Release 2 Customization Specification (Final)    Cendant/Top Producer           10/22/01
------------------------------------------------------------------------------------------------
Falcon Security Specification (First draft)             Cendant/Top Producer           10/31/01
------------------------------------------------------------------------------------------------
Falcon Master Release Plan (version 0.8)                Cendant/Top Producer           10/31/01
------------------------------------------------------------------------------------------------
Great Plains Integration Specification (Final)          Cendant/Top Producer           11/30/01
------------------------------------------------------------------------------------------------
Falcon Release 2 Limited Release to C21                 Top Producer/Cendant           1/7/02
------------------------------------------------------------------------------------------------
Falcon Scope Specification (version 1.5)                Top Producer/Cendant           2/1/02
------------------------------------------------------------------------------------------------
Falcon Master Release Plan (version 0.9)                Cendant/Top Producer           2/1/02
------------------------------------------------------------------------------------------------
CREST Integration Specification (final)                 Cendant/Top Producer           2/8/02
------------------------------------------------------------------------------------------------
Falcon Release 2 Limited Release to CB                  Top Producer/Cendant           2/12/02
------------------------------------------------------------------------------------------------
Falcon Release 3b C21 Broker Customization              Cendant/Top Producer           2/28/02
Specification (Level 3 customizations base lined)
------------------------------------------------------------------------------------------------
Falcon Release 2 Limited Release to ERA                 Top Producer/Cendant           3/12/02
------------------------------------------------------------------------------------------------
Falcon Release 3b C21 Joint Project Plan                Cendant/Top Producer           3/15/02
------------------------------------------------------------------------------------------------
Customer Support Agreement approved                     Cendant/Top Producer           3/31/02
------------------------------------------------------------------------------------------------
Establishment of Falcon C21 SIT site environment for    Cendant                        5/31/02
Affiliate components
------------------------------------------------------------------------------------------------
Falcon Release 3a C21 Agent Customization               Cendant/Top Producer           7/15/02
------------------------------------------------------------------------------------------------
</TABLE>

<PAGE>

<TABLE>
<S>                                                     <C>                            <C>
Specification (Level 1 & 2 customizations final)
------------------------------------------------------------------------------------------------
Falcon Release 3a C21 Joint Project Plan (final)        Cendant/Top Producer           7/15/02
------------------------------------------------------------------------------------------------
Falcon Release 3c CB Joint Project Plan (final)         Cendant/Top Producer           7/15/02
------------------------------------------------------------------------------------------------
Falcon Release 3d ERA Joint Project Plan (final)        Cendant/Top Producer           7/15/02
------------------------------------------------------------------------------------------------
Falcon Release 3b C21 Joint Project Plan (final)        Cendant/Top Producer           8/6/02
------------------------------------------------------------------------------------------------
Falcon Release 3b C21 Broker Customization              Cendant/Top Producer           8/19/02
Specification (Level 3 final)
------------------------------------------------------------------------------------------------
Falcon Account and Security Specification (final)       Cendant/Top Producer           8/19/02
------------------------------------------------------------------------------------------------
Falcon Agent Billing Specification (final)              Cendant/Top Producer           8/19/02
------------------------------------------------------------------------------------------------
Falcon Release 3 Level 3 Customization Specification    Cendant/Top Producer           8/19/02
for Account Creation, Agent Administration and Agent
Billing (final)
------------------------------------------------------------------------------------------------
Falcon Scope Specification (version 1.6)                Top Producer/Cendant           8/26/02
------------------------------------------------------------------------------------------------
Falcon Master Release Plan (version 1.0)                Cendant/Top Producer           8/26/02
------------------------------------------------------------------------------------------------
Falcon Release 3b C21 Broker Customization              Cendant/Top Producer           8/31/02
Specification (Level 1 & 2 customizations final)
------------------------------------------------------------------------------------------------
Falcon Release 3a C21 Release to Associates             Top Producer/Cendant           10/15/02
------------------------------------------------------------------------------------------------
Falcon Release 3e CB Customization Specification        Cendant/Top Producer           10/15/02
(Brand specific Level 3 customizations final)
------------------------------------------------------------------------------------------------
Falcon Release 3c CB Release to Associates              Top Producer/Cendant           11/15/02
------------------------------------------------------------------------------------------------
Falcon Release 3f ERA Customization Specification       Cendant/Top Producer           12/15/02
(Brand specific Level 3 customizations final)
------------------------------------------------------------------------------------------------
Falcon Release 3e CB Joint Project Plan                 Cendant/Top Producer           12/15/02
------------------------------------------------------------------------------------------------
Falcon Release 3d ERA Release to Associates             Top Producer/Cendant           12/15/02
------------------------------------------------------------------------------------------------
Recovery plan completed                                 Cendant                        12/31/02
------------------------------------------------------------------------------------------------
Recovery site established                               Cendant                        12/31/02
------------------------------------------------------------------------------------------------
Falcon Release 3f ERA Joint Project Plan                Cendant/Top Producer           2/15/03
------------------------------------------------------------------------------------------------
Falcon Release 3b C21 Limited Release to Affiliates     Top Producer/Cendant           2/15/03
and Associates
------------------------------------------------------------------------------------------------
Falcon Release 3e CB Limited Release to Affiliates      Top Producer/Cendant           4/15/03
and Associates
------------------------------------------------------------------------------------------------
Falcon Release 3f ERA Limited Release to Affiliates     Top Producer/Cendant           6/15/03
and Associates
------------------------------------------------------------------------------------------------
</TABLE>

<PAGE>

5        APPENDICES
5.1                RELEASE STATEMENT 1

C21 LIMITED RELEASE: DELIVERED ON OCTOBER 7, 2001.

ASSOCIATE PRODUCT

-    Browser accessible Associate product supporting:

     -   Contact Management

     -   Scheduling

     -   Listing Management

     -   Closing Management

     -   Lead Management

     -   Outgoing email support

     -   Reports

-    No data conversion from any existing associate product will be available
     with this release.

<PAGE>

5.2               RELEASE STATEMENT 2

C21 LIMITED RELEASE: DELIVERED ON JANUARY 7, 2002.

CB AND ERA LIMITED RELEASE WILL DELIVERED IN FEBRUARY AND MARCH 2002.

ASSOCIATE PRODUCTS

-    Browser accessible Associate product supporting Release 1 features, with
     the addition of:

     -   Incoming and Outgoing email support, including POP3 retreival o Agent
         Referral Management

     -   Improved Communications Library that supports future Content publishing
         from the Affiliate.

     -   Migration of Associate data from Top Producer System 6 and 6i including
         Cendant customized brand versions.

<PAGE>

5.3               RELEASE STATEMENT 3A, 3C & 3D

Releases 3a, 3c & 3d are functionally equivelent and have nearly identical
Customization specifications. For that reason, the releases share a release
statement.

RELEASE 3A: OCTOBER 15, 2002 RELEASE TO THE C21 BRAND

RELEASE 3C: NOVEMBER 15, 2002 RELEASE TO THE CB BRAND

RELEASE 3D: DECEMBER 15, 2002 RELEASE TO THE ERA BRAND

FRANCHISE PRODUCT

-    Browser accessible Franchiser product that includes:

     -   Franchiser Content Publishing

     -   Franchiser Account Management features, including the "Falcon Account
         Utility"

AFFILIATE PRODUCTS

-    Browser accessible Broker product that includes:

     -   Broker Content Publishing

     -   Broker Account Management & Agent Billing features

ASSOCIATE PRODUCTS

-    Browser accessible Associate product supporting Release 2 features, with
     the addition of:

     -   Comparative Market Analysis (CMA) product, including access to IP based
         MLSs.

     -   Word Processing

     -   Data synchronization with Palm Computing Platform Associate Application

     -   Associate Data Export

     -   Scheduler

     -   Agent Billing through a customized integration with the Top Producer
         Customer Support System (CSS). (This feature will activate as part of
         the release of the 3b project)

     -   Interaction with the Affiliate products. This interaction will be
         activated when the Affiliate products are released, this interaction
         will support:

         -    Lead Management

         -    Referral Management

         -    Listings Management

         -    Closings Management

-    Palm Computing Platform Associate Application including:

     -   Contact Management

     -   Listing Management

     -   Closing Management

     -   Lead Management

     -   Referral Management

     -   Data migration from Top Producer for the Palm.

     -   Data synchronization with the Browser accessible Associate product

<PAGE>

5.4      RELEASE STATEMENT 3B, 3E & 3F

Releases 3b, 3e & 3f are functionally equivelent and have nearly identical
Customization specifications. For that reason, the releases share a release
statement.

RELEASE 3B: FEBRUARY 15, 2003 RELEASE TO THE C21 BRAND

RELEASE 3C: APRIL 15, 2002 RELEASE TO THE CB BRAND

RELEASE 3D: JUNE 15, 2002 RELEASE TO THE ERA BRAND

FRANCHISER PRODUCT

-    Browser accessible Franchiser Tools product that includes:

     -   Franchiser Content Publishing

     -   Franchiser Account Management features updated to support Crest
         integration

AFFILIATE PRODUCTS

-    Browser accessible Broker Tools product that includes:

     -   Broker Content Publishing

     -    Broker Account Management & Agent Billing features updated to support
          Crest Integration

-    Browser accessible Front Desk product supporting:

     -   In/Out Board

     -   Front Desk Scheduling

     -   Ad calls and Sign calls

     -   Front Desk Listing Management including Web preview & Web preferences

     -   Advertising Cost Management

     -   Scheduling

     -   E-mail

     -   Reports

-    Browser accessible Back Office product supporting:

     -   Sales Management

     -   Transaction and Sales Associate Accounting

     -   Scheduling

     -   Reports

     -   Searching

     -   E-mail

     -   Contact Management

     -   Communications Library

-    Browser accessible Lead Manager product supporting:

     -   Referral Management

     -   Lead Management

-    Browser accessible Service Center product supporting:

     -   Lead and Contact Action plans

-    These Affiliate products will include:

     -   Universal Password.

     -   Special Markets

     -   Preferred Clients

     -   Integration with each other through sharing the same brokerage
         database.

     -    An integration with Cendant's CREST system that includes

         -    Associate team functionality necessary to support Crest Awards.

<PAGE>

         -    Listing and Closing exchanges

         -    Crest Assignments processing.

         -    Key Management Numbers as a click through to Crest.

         -    Interaction with the Associate product

     -   Broker Oriented Agent Billing features

     -   Top Producer Online Advanced Reporting system.

     -   Integration with Great Plains accounting system

     -   Integration with Quickbooks accounting system

     -   Affiliate Data Export.

ASSOCIATE PRODUCTS

-    It is expected that there will be a maintenance release of the earlier
     (Release 3a) Associate products at the same time as Release 3b.

<PAGE>

6        ATTACHMENTS

6.1               FALCON KEY ACTIONS/DECISIONS LIST

                  See attached initial version.

6.2               FALCON CHANGE REQUEST TEMPLATE

                  See attached template.

6.3               FALCON PROJECT RISK MATRIX

                  See attached initial version.

6.4               FALCON PROJECT TEAM

6.4.1             CENDANT FALCON PROJECT TEAM

                  See attached organization chart.

6.4.2             TOP PRODUCER FALCON PROJECT TEAM

                  See attached organization chart.

6.5               FALCON RELEASE 1 BRANDING & CUSTOMIZATION SPECIFICATION

                  Cendant prime.
                  MS Word document.

6.6               FALCON RELEASE 1 JOINT PROJECT PLAN

                  Cendant prime.
                  MS Project document to be provided at a later date.

6.7               FALCON RELEASE 2 CUSTOMIZATION SPECIFICATION

                  Cendant prime.
                  MS Word document.

6.8               FALCON RELEASE 2 JOINT PROJECT PLAN

                  Cendant prime.
                  MS Project document to be provided at a later date.

6.9               FALCON RELEASE 3a CUSTOMIZATION SPECIFICATION

                  Cendant prime.
                  MS Word document to be provided at a later date.

6.10              FALCON RELEASE 3a JOINT PROJECT PLAN

                  Cendant prime.
                  MS Project document to be provided at a later date.

<PAGE>

6.11              FALCON RELEASE 3b CUSTOMIZATION SPECIFICATION

                  Cendant prime.
                  MS Word document to be provided at a later date.

6.12              FALCON RELEASE 3b JOINT PROJECT PLAN

                  Cendant prime.
                  MS Project document to be provided at a later date.

6.13              FALCON RELEASE 3c CUSTOMIZATION SPECIFICATION

                  Cendant prime.
                  MS Word document to be provided at a later date.

6.14              FALCON RELEASE 3c JOINT PROJECT PLAN

                  Cendant prime.
                  MS Project document to be provided at a later date.

6.15              FALCON RELEASE 3d CUSTOMIZATION SPECIFICATION

                  Cendant prime.
                  MS Word document to be provided at a later date.

6.16              FALCON RELEASE 3d JOINT PROJECT PLAN

                  Cendant prime.
                  MS Project document to be provided at a later date.

6.17              FALCON RELEASE 3e CUSTOMIZATION SPECIFICATION

                  Cendant prime.
                  MS Word document to be provided at a later date.

6.18              FALCON RELEASE 3e JOINT PROJECT PLAN

                  Cendant prime.
                  MS Project document to be provided at a later date.

6.19              FALCON RELEASE 3f CUSTOMIZATION SPECIFICATION

                  Cendant prime.
                  MS Word document to be provided at a later date.

6.20              FALCON RELEASE 3f JOINT PROJECT PLAN

                  Cendant prime.
                  MS Project document to be provided at a later date.

<PAGE>

                                    EXHIBIT D

                    FALCON SCOPE SPECIFICATION (VERSION 1.6)
<PAGE>

                                                            TOP PRODUCER SYSTEMS

                               [TOP PRODUCER LOGO]

                           Falcon Scope Specification
                                   Version 1.6

                              Author: J. McPherson

<PAGE>

                                                            TOP PRODUCER SYSTEMS

                               [TOP PRODUCER LOGO]

                                 VERSION HISTORY

<TABLE>
<CAPTION>
-------------------------------------------------------------------------------------------------------
                                              ADD/
                                             MODIFY/
NO.           DATE          SECTION NO       DELETE                 DESCRIPTION              AUTHOR(S)
-------------------------------------------------------------------------------------------------------
<S>       <C>               <C>              <C>              <C>                          <C>
1.6       Aug, 26, 2002     All              All              Revised to reflect the       J. McPherson
                                                              agreement to deliver
                                                              Falcon Broker
                                                              Functionality to CB and
                                                              ERA sooner, to include
                                                              Advanced Reporting and to
                                                              remove RiTP and to remove
                                                              First Flight Migration.
-------------------------------------------------------------------------------------------------------
1.5       Feb, 1, 2002      All              All              Revised to reflect           J. McPherson
                                                              decision to include Agent
                                                              Billing and to remove
                                                              certain other features.
-------------------------------------------------------------------------------------------------------
1.4       Aug, 12, 2001     All              All              Revised to reflect           J. McPherson
                                                              project work and project
                                                              decisions.
-------------------------------------------------------------------------------------------------------
1.3       Feb, 16, 2001     2.2.2,           modify           Incorporation of changes     J. McPherson
                            2.5.6.2                           reflecting agreements
                                                              between Homestore &
                                                              Cendant on Feb, 15 & 16.
-------------------------------------------------------------------------------------------------------
1.2       Jan, 31, 2001     all              all              Incorporation of changes     J. McPherson
                                                              reflecting TOP
                                                              PRODUCER/Cendant meetings
                                                              in Dec 2000 and Jan 2001
                                                              and reflecting Golden
                                                              decisions.
-------------------------------------------------------------------------------------------------------
1.1       Oct, 23, 2000     all              all              Incorporation of changes     J. McPherson
                                                              reflecting meetings with
                                                              Homestore & Cendant on
                                                              Oct 22.
-------------------------------------------------------------------------------------------------------
1.0       Oct, 16, 2000     all              all              Incorporation of changes     J. McPherson
                                                              related to Falcon
                                                              Contract decisions.
                                                              Conversion to Product
                                                              Scope Specification
                                                              relative to Falcon
                                                              Contract.
-------------------------------------------------------------------------------------------------------
</TABLE>

<PAGE>

                                                            TOP PRODUCER SYSTEMS

                               [TOP PRODUCER LOGO]

                                VERSION APPROVALS

<TABLE>
<CAPTION>
----------------------------------------------------------------------
                                                         SIGNATURE
NO.           DATE       STATUS        APPROVER        (on hardcopy)
<S>           <C>        <C>           <C>             <C>
----------------------------------------------------------------------

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

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

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

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

----------------------------------------------------------------------
</TABLE>

<PAGE>

                                TABLE OF CONTENTS

<TABLE>
<S>                                                                                               <C>
1    INTRODUCTION TO FALCON...................................................................     6
1.1    PURPOSE OF THIS DOCUMENT...............................................................     6
1.2    DEFINITIONS, ACRONYMS AND ABBREVIATIONS................................................     7
1.3    REFERENCES.............................................................................     8
2    THE FALCON PRODUCT.......................................................................     9
2.1    VISION STATEMENT.......................................................................     9
2.2    OVERALL FALCON REQUIREMENTS............................................................    10
2.2.1    Web Based Product and Architecture...................................................    10
2.2.2    Integration with other systems.......................................................    10
2.2.3    User Interface.......................................................................    10
2.2.4    Universal Password...................................................................    10
2.2.5    Single and Multi-office Affiliate Operation..........................................    10
2.2.6    Agent Billing........................................................................    11
2.2.7    Internationalization.................................................................    11
2.2.8    Brand Specific Functionality.........................................................    11
2.2.9    Brand Specific Content...............................................................    11
2.2.10   NRT Specific Overall Requirements....................................................    12
2.3    INTERFACE REQUIREMENTS.................................................................    13
2.3.1    CREST................................................................................    13
2.3.1.1  Crest Awards.........................................................................    13
2.3.2    Interfaces to Lead Sources...........................................................    13
2.3.3    Accounting Systems...................................................................    14
2.3.4    Training Interface...................................................................    14
2.3.5    Interfaces to Business Partners......................................................    14
2.3.6    Top Producer Customer Support System.................................................    14
2.3.7    Brand Specific Interface Requirements................................................    14
2.3.8    NRT Specific Interface Requirements..................................................    14
2.4    AFFILIATE AND ASSOCIATE SHARED COMPONENT REQUIREMENTS..................................    15
2.4.1    e-mail...............................................................................    15
2.4.2    Contact Management...................................................................    15
2.4.3    Training.............................................................................    16
2.4.4    Media Library........................................................................    16
2.4.5    Demographic Information Links........................................................    16
2.4.6    Brand Specific Affiliate and Associate Requirements..................................    16
2.4.7    NRT Specific Affiliate and Associate Requirements....................................    16
2.5    AFFILIATE COMPONENT REQUIREMENTS.......................................................    17
2.5.1    Affiliate (Brokerage) Roles and Feature Security.....................................    17
2.5.2    Front Desk...........................................................................    17
2.5.3    Office Management....................................................................    19
2.5.3.1  Sales Management.....................................................................    19
2.5.3.2  Transaction and Administration.......................................................    19
2.5.3.3  Associate/Employee Information.......................................................    20
2.5.4    Affiliate Referral Management........................................................    20
2.5.5    Affiliate Lead Management............................................................    20
2.5.6    Transaction and Associate Accounting.................................................    21
2.5.7    Accounting Interfaces................................................................    22
2.5.8    Advertising Management...............................................................    22
2.5.9    Today's Business and Schedule........................................................    22
2.5.10   Online and printed management reports................................................    22
2.5.11   Advanced Report Writer...............................................................    23
2.5.12   SERVICE CENTER(TM)...................................................................    23
2.5.13   Brand Specific Affiliate Requirements................................................    24
</TABLE>

<PAGE>

<TABLE>
<S>                                                                                               <C>
2.5.14   NRT Specific Affiliate Requirements..................................................    24
2.6    ASSOCIATE COMPONENT REQUIREMENTS.......................................................    25
2.6.1    General..............................................................................    25
2.6.2    Listing and Closing Management.......................................................    25
2.6.3    Closing System Management............................................................    26
2.6.4    Associate Referral Management........................................................    26
2.6.5    Associate Lead Management............................................................    26
2.6.6    Today's Business and Schedule........................................................    27
2.6.7    Comparative Market Analysis (CMA) Presentations......................................    27
2.6.8    Mobile Computing Applications (MCAs).................................................    28
2.6.9    Brand Specific Associate Requirements................................................    28
2.6.10   NRT Specific Associate Requirements..................................................    29
2.7    DATA EXCHANGE AND STANDARDS ADHERENCE..................................................    30
2.8    DATA MIGRATION FROM TOP PRODUCER PRODUCTS..............................................    31
2.9    DATA IMPORT AND EXPORT.................................................................    32
2.9.1    Affiliate Data Export................................................................    32
2.9.2    Associate Data Import................................................................    32
2.9.3    Associate Data Export................................................................    32
2.10    PERFORMANCE AND THROUGHPUT REQUIREMENTS...............................................    33
2.10.1   Host Transaction Levels..............................................................    33
2.10.2   Response Time........................................................................    36
2.11    SECURITY, ADMINISTRATION AND SYSTEM MANAGEMENT........................................    37
2.11.1   Security.............................................................................    37
2.11.2   Administration.......................................................................    37
2.11.3   System Management....................................................................    37
2.12    ARCHITECTURE REQUIREMENTS.............................................................    39
2.12.1   Technology Base......................................................................    39
2.12.2   DataBase Server......................................................................    39
2.12.3   3-tier Architecture..................................................................    39
2.12.4   Affiliate and Associate Client Machines..............................................    39
2.12.5   Mobile Computing Application (MCA) Platforms.........................................    39
2.13    SCOPE, BRAND SPECIFIC FUNCTIONS AND OPTIONS...........................................    40
2.13.1   Scope................................................................................    40
2.13.2   Brand Specific Functions.............................................................    40
2.13.3   Options..............................................................................    40

3    APPENDICES...............................................................................    42
3.1    CONTACT RECORD FIELDS..................................................................    42
3.2    RESIDENTIAL LISTING RECORD FIELDS......................................................    43
3.3    RESIDENTIAL TRANSACTION RECORD FIELDS..................................................    45
3.4    ASSOCIATE/EMPLOYEE RECORD FIELDS.......................................................    46
3.5    LEAD RECORD FIELDS.....................................................................    47
3.6    TRANSACTION AND ASSOCIATE ACCOUNTING RECORD FIELDS.....................................    48
</TABLE>

<PAGE>

1        INTRODUCTION TO FALCON

Falcon is the name of a system product for Cendant Real Estate and its brands,
Century21, Coldwell Banker and ERA, that is being developed for Cendant
Corporation by TOP PRODUCER Systems Inc.

Falcon will be an integrated Affiliate and Sales Associate system that provides
Cendant Real Estate Affiliates and Sales Associates with a Web based turnkey
technology solution that lessens the need for certain individual software
purchases. It further provides Cendant with the added value of a technology
deliverable within the franchise environment that establishes franchise members
and their associates on a single technology platform for communication and
deployment.

1.1      PURPOSE OF THIS DOCUMENT

The first purpose of this document is to specify all of the key high level
aspects of the Falcon Product's Scope.

The second, and equally important, purpose of this document is to serve as the
highest defining project document within project Falcon. This document contains
Falcon's Scope and contains every major Falcon Requirement. As a result, this
document is the reference upon which succeeding, more detailed Specification and
Design documents will be based.

This document will be maintained over the course of project Falcon and that the
Change Control of this document will be integral to the Program Management
Processes of Falcon.

<PAGE>

1.2      DEFINITIONS, ACRONYMS AND ABBREVIATIONS

         The following terms shall have the following meaning within this
Document:

<TABLE>
<S>                             <C>
-----------------------------------------------------------------------------------------
Affiliate                       Cendant term for a Broker.
-----------------------------------------------------------------------------------------
Associate                       Cendant term for an Agent.
-----------------------------------------------------------------------------------------
Business Requirement            Requirements that are based on business conditions or
                                needs.
-----------------------------------------------------------------------------------------
CSS                             Customer Support System. Top Producer's CRM system with
                                extensions to support Falcon.
-----------------------------------------------------------------------------------------
Component                       Major functional element in the Falcon system.
-----------------------------------------------------------------------------------------
Feature                         Specific aspect or function of a Component.
-----------------------------------------------------------------------------------------
GCI                             Gross Commission Income
-----------------------------------------------------------------------------------------
Lead                            A contact that has been passed to an Affiliate
                                or Associate and where the passing of the
                                contact does not imply that there will be monies
                                paid to the source of the contact. A lead passed
                                to an Associate by an Affiliate may however,
                                imply that the Associate will receive a lower
                                commission in the event of a sale.
-----------------------------------------------------------------------------------------
Referral                        A referral is a contact that implies that,
                                should the referral result in a sale, the
                                referral recipient is obliged to pay monies to
                                the source of the referral. The referral fee may
                                be a flat fee or a percentage of the commission.
-----------------------------------------------------------------------------------------
LTS                             Lead Transmission Standard, a standard for the
                                transmission of Real Estate Leads over the
                                Internet.
-----------------------------------------------------------------------------------------
MCA                             Mobile Computing Application. Term that refers to
                                Associate Applications executing on Mobile Computing
                                Platforms such as Palm Platforms.
-----------------------------------------------------------------------------------------
MLS                             Multiple Listing Service
-----------------------------------------------------------------------------------------
MOB                             Multiple Office Broker
-----------------------------------------------------------------------------------------
NAR                             National Association of Realtors
-----------------------------------------------------------------------------------------
NRT                             National Real Estate Trust.
-----------------------------------------------------------------------------------------
Offline                         Operational Mode of the Associate Component when
                                the Component does not have an Internet
                                connection to the server based components.
-----------------------------------------------------------------------------------------
Online                          Operational Mode of the Associate Component when
                                the Component does have an Internet connection
                                to the server based components.
-----------------------------------------------------------------------------------------
Sales Associate (SA)            Cendant term for an Agent.
-----------------------------------------------------------------------------------------
</TABLE>

<PAGE>

1.3      REFERENCES

<TABLE>
<S>      <C>                                                              <C>
------------------------------------------------------------------------------------------------------------------
1        CENDANT Corporation Project "Falcon"                             Cendant Corporation March, 1999
         Version 1.1
         Request for Proposal Document
------------------------------------------------------------------------------------------------------------------
2        Reply to Cendant Corporations                                    TOP PRODUCER Systems Inc.
         Request for Proposal for Project Falcon                          April, 2, 1999
------------------------------------------------------------------------------------------------------------------
3        Consulting Services Agreement between Cendant Corporation        Cendant/ TOP PRODUCER
         and TOP PRODUCER Systems Inc.                                    Feb, 10, 2000
------------------------------------------------------------------------------------------------------------------
4        TOP PRODUCER Lead Transmission Standard                          TOP PRODUCER Systems Inc.
         (LTS v2.0)                                                       March, 1, 2000
------------------------------------------------------------------------------------------------------------------
5        FINAL TOP PRO 10_27_.doc (Falcon Software License Agreement)     Homestore/Cendant
------------------------------------------------------------------------------------------------------------------
6        Falcon Agent Billing                                             Cendant
         Version 1.3
------------------------------------------------------------------------------------------------------------------
7        Falcon Account Creation                                          Cendant
         Version 2.4
------------------------------------------------------------------------------------------------------------------
</TABLE>

<PAGE>

2        THE FALCON PRODUCT

2.1      VISION STATEMENT

Falcon will provide Cendant Real Estate members with an integrated
Affiliate/Sales Associate* system that is a turnkey technology solution
lessening the need for certain technology purchases. This offering endeavors to
further provide income opportunities through connections with Cendant
Corporation, its Real Estate brands and its other business units. Through the
use of integrated modules, real time information and streamlined data flow,
Cendant Real Estate Affiliates and Sales Associates will enjoy efficiency in
many real estate business processes. The system will also provide the platform
by which Cendant could continue to deliver technology solutions, industry
knowledge and connectivity that could be useful to its Affiliates and Sales
Associates.

------------------
* Cendant refers to its member brokers as "Affiliates" and its real estate
agents as "Sales Associates".

<PAGE>

2.2      OVERALL FALCON REQUIREMENTS

This section specifies all requirements that affect all Falcon components and
products.

2.2.1    WEB BASED PRODUCT AND ARCHITECTURE

All of the components required for Falcon shall be incorporated into a web-based
integrated product that shall include security, monitoring mechanisms and
controls.

2.2.2     INTEGRATION WITH OTHER SYSTEMS

Falcon will be fed with data by Cendant, the three brands, Affiliates,
Associates and partners (both Internal and External) and will have interfaces to
certain other systems (ref section 2.3). Falcon will have the ability to
exchange information with these other systems without requiring redundant entry.
For example, a Sales Associate will be able to enter a listing record, have it
confirmed by the Office Manager, accepted by Cendant, and posted to the Sales
Associate's brand's consumer website without redundant data entry.

Integration with other Cendant Applications is a key goal of Falcon.

2.2.3    USER INTERFACE

All functionality, unless otherwise specified, shall be accessible through a Web
browser.

At least a portion of the functionality provided by certain other systems, such
as Crest will be accessible through Falcon (section 2.3).

Falcon shall integrate these other systems wherever possible and logical and in
doing so will front-end the other system's functionality, providing to the user
a "single application look and feel".

Falcon shall also, where required, support a Click Thru style pass through to
the User Interface of the other systems.

2.2.4    UNIVERSAL PASSWORD

Falcon shall make provisions for a universal password scheme allowing Associates
and Affiliates to, as a result of logging onto Falcon, gain logon privileges on
the other systems that are integrated with Falcon. This facility is needed to
allow easy navigation from within Falcon.

This facility should not be obvious to the typical user.

It is envisioned that Falcon's Universal Password system will utilize the CREST
database for the verification of valid Affiliate and Sales Associate information
as well as to check the current status of these system users.

2.2.5    SINGLE AND MULTI-OFFICE AFFILIATE OPERATION

<PAGE>

Falcon shall handle both single and multiple office scenarios (based upon the
preference of the Affiliate) where data entry and reporting may be done in a
distributed or centralized manner.

Falcon will be configurable to support:

-        Single office only.

-        Multi-office, centralized entry, centralized accounting.

-        Multi-office, branch entry, centralized accounting.

-        Multi-office, branch entry, branch accounting.

-        Reports may be done on any office or from head office.

-        Branches may do reports on their own performance, and other offices as
         permitted by the head office.

2.2.6    AGENT BILLING

Associate product will be made available to Cendant Sales Associates for a
monthly license fee. This price will be charged to the Sales Associates directly
or to a Cendant Broker paying for the license on the Sales Associate's behalf.
The mechanism to charge the Sales Associates and Brokers will be put in place
through integration between Falcon and the Top Producer Customer Support System.

2.2.7    INTERNATIONALIZATION

Falcon shall make allowance for a later release to international Affiliates,
where multiple language versions will need to be supported.

Falcon shall make the following provisions for internationalization:

-        Utilization of the underlying Microsoft Unicode International
         methodology foundation to enable both internationalization and
         localization.

-        Following the guidelines and checklists recommended by Microsoft for
         adherence to the Unicode standard.

-        Establishing one code base and one data storage format for all editions
         of the product.

2.2.8    BRAND SPECIFIC FUNCTIONALITY

With the specific exception of those items listed in Section 2.14, the
functionality of Falcon shall be the same for all three real estate brands.

2.2.9    BRAND SPECIFIC CONTENT

While Falcon will support only that brand specific functionality specifically
listed in Section 2.14; its structure will keep each brand in the forefront upon
their membership. In order to maintain brand recognition, Falcon's structure
will allow each brand to have a separate "look". As well, multimedia content
(i.e. letters, postcards, marketing mailings), will be supplied by the brand.

<PAGE>

2.2.10   NRT SPECIFIC OVERALL REQUIREMENTS

There are no NRT specific overall requirements.

<PAGE>

2.3      INTERFACE REQUIREMENTS

This section specifies all requirements related to the Interfaces between Falcon
and other systems.

2.3.1    CREST

Falcon will interact with Crest through an on-line exchange of data related to
the entry and progression of listing and closing data. It is envisioned that
Falcon will be the primary Affiliate & Associate user environment for
progressing listings and closings and that an on-line exchange of data will be
used to keep the Crest database in sync with Falcon.

To limit intrusion on a broker's financial data, Falcon will not request
overwrites of data fields that have been utilized in the calculation of
franchise fees such as gross sale amounts, associate commissions, MLS fees, etc.

Since it is possible for CREST data to be updated without the Falcon database
being aware of the change (i.e. audit transactions), the two databases could
potentially become out of sync. In order to allow this a data ownership and
two-way synchronization scheme will be supported.

Falcon's Crest interface will include the ability to support Crest assignments
through the exchange of standard state message exchanges. Falcon will be
essentially unaware of assignments.

Falcon's Crest interface shall include the ability to establish Web preferences
and will provide a basic web previewing capability.

Falcon will support a portal style pass through to Crest to allow Affiliate
access to Crest's reporting capabilities.

2.3.1.1  CREST AWARDS

Falcon shall interface to Crest to allow Brokerages to interact with Crest's
Team Awards capability.

2.3.2    INTERFACES TO LEAD SOURCES

Falcon shall incorporate an interface that allows a range of systems, such as
Realtor.com, the Cendant consumer sites and Affiliate owned Sites to send leads
to the Falcon database. This interface will be built utilizing the XML based,
Lead Transmission Standard (LTS), a TOP PRODUCER initiated industry standard
(reference 4).

The use of LTS will provide Falcon with the functionality to deliver, track and
monitor the status of consumer "leads" to Affiliates and Associates. The Falcon
Affiliate Component in particular will support the notification of status on
leads received from the various sites back to the site and will manage the
delivery of the leads to Associates.

Further details on Lead Management at the Affiliate and Associate levels are
given in sections 2.5 and 2.6 respectively.

<PAGE>

2.3.3    ACCOUNTING SYSTEMS

Falcon shall provide the functionality to allow the transfer of income, expense,
vendor payables, trust accounting and SA billing/deduction information from the
Affiliate Component to select third party accounting applications. Further
detail is supplied in section 2.5.

2.3.4    TRAINING INTERFACE

Falcon shall make provision for an interface to an external Web based training
module.

Cendant will procure the external Web based training module from a training
specialist company, this training module is outside the scope of Falcon.

2.3.5    INTERFACES TO BUSINESS PARTNERS

Falcon's foundation shall support real time communication and data exchange with
business partners such as mortgage companies, title companies, lenders and
survey companies where appropriate.

This foundation will also include the ability to link provider(s) of demographic
information and append listing information (i.e. property types, price ranges,
school information, etc. including geographic information) including location
information and driving directions.

2.3.6    TOP PRODUCER CUSTOMER SUPPORT SYSTEM

To support the Agent Billing feature, Falcon shall support an interface to the
Top Producer Customer Support System.

2.3.7    BRAND SPECIFIC INTERFACE REQUIREMENTS

None unless specified in section 2.14.

2.3.8    NRT SPECIFIC INTERFACE REQUIREMENTS

There are no NRT Specific Interface requirements.

<PAGE>

2.4      AFFILIATE AND ASSOCIATE SHARED COMPONENT REQUIREMENTS

This section specifies requirements on components that are common to the
Affiliate and Associate. Unless otherwise stated within the requirement, the
Affiliate and Associate requirement is identical.

2.4.1    E-MAIL

Falcon shall provide the ability to, from a Contact record: launch a browser
based e-mail window and automatically populate the address field with the
contact's e-mail address. This browser based email window shall allow e-mail to
be generated from that point in the application.

Users will be provided with an inbox, outbox and the ability to create and
manage their own folders. e-mail may be associated to any contact record for
instant retrieval from the record. Sent e-mail and associated attachments will
be linked to the contact record for historical purposes.

Falcon will inter-operate with the existing, branded e-mail systems and
addresses, allowing a Falcon e-mail user to collect e-mail directed to the brand
address in their Falcon Inbox.

Falcon shall provide the ability for users to send mass e-mail to any or all of
their contacts with email addresses, and create lists of all records without
email addresses for alternate contact, regular mail, phone, etc.

2.4.2    CONTACT MANAGEMENT

The Contact Manager shall have the following features:

-        Contact's name, spouse or secondary contact's information, and address
         details.

-        Unlimited amount of information for contact: Unlimited notes will be
         available for present/future home, listings and closings.

-        Support for user definable fields.

-        Complete property statistics for the Contact's properties. Ability to
         store additional property information for any other property.

-        Present/Future home functionality

-        Assign multiple categories to a record. Unlimited contact types and
         user definable, including the ability to mark a contact business or
         personal. An unlimited amount of contact types may be associated per
         contact record.

-        Inquiries initiated by consumers on brand web sites will be
         automatically added to the Associate's contact manager.

-        Action Plans.

-        Photographs: The ability to add pictures, contact photos, maps, and
         full support for IPIX 360-degree format. All photos will be stored in a
         compressed format.

-        The ability to Rolodex through displayed contacts. Contacts are
         displayed in a rolodex, allowing the user to jump to another contact
         instead of having to Rolodex through the list to get to the needed
         contact.

-        Searching: There will be two ways to search. The first will provide a
         very simple interface, the second will provide a more advanced search
         enabling the user to combine criteria from the contact record,
         listings, and closings. The second search approach will allow the user
         to search for contacts based on an unlimited amount of selected
         criteria and will provide a Boolean logic option for advanced
         searching. The search engine will be able to save searches, reducing
         the need for recreating standard searches over and over again

<PAGE>

-        Affiliates and Associates shall be able to generate postcards, letters,
         flyers, brochures, and email, labels and envelopes from directly from
         the contact record. Affiliates and Associates will also be able to
         merge correspondence formats such as letters, postcards, flyers,
         brochures, email, envelopes, and labels from any search result.

The Contact Record fields are given in the Appendices.

2.4.3    TRAINING

Falcon training will utilize a web based training module that Cendant will
procure from a training specialist company.

2.4.4    MEDIA LIBRARY

Falcon shall include a centralized library of letters, flyers and postcards for
Affiliate and Associates. This library will support the following features:

-        Saving of communications materials and information on the materials
         name, date and time printed with a link to the contact's record for
         review, editing, printing and viewing of contact "History". This
         linkage to the contact record will support the user in maintaining a
         complete record of communications with a contact.

-        The ability to use content in mail merges and save customized versions.

-        Each user will have their own library of personally customized letters,
         postcards, envelopes, and labels that they may edit, create new, copy
         or delete.

-        The user's personal library of communications materials will also be
         able to exchange documents as required with other users.

-        Letters, postcards, flyers and other printable documents may be sent as
         HTML email.

2.4.5    DEMOGRAPHIC INFORMATION LINKS

Falcon shall provide the ability to click through to provider(s) of demographic
information and will append demographics, local information, driving directions
and other data (i.e. property types, price ranges, school information, etc.
including geographic information).

All related licensing and content fees related are Cendant's responsibility.

2.4.6    BRAND SPECIFIC AFFILIATE AND ASSOCIATE REQUIREMENTS

None unless specified in section 2.14.

2.4.7    NRT SPECIFIC AFFILIATE AND ASSOCIATE REQUIREMENTS

There are no NRT specific Affiliate and Associate Requirements.

<PAGE>

2.5      AFFILIATE COMPONENT REQUIREMENTS

This section specifies requirements for the Falcon Affiliate Components.

For the purposes of this document, this component of Falcon will also be
referred to as the "Office Component".

2.5.1    AFFILIATE (BROKERAGE) ROLES AND FEATURE SECURITY

Falcon shall provide a flexibility of Affiliate security that supports the
office operational modes comparable to those used in Crest in 4Q, 2000.

The Affiliate will access a security setup screen that allows them to define the
security permissions for each office. These security permissions will provide
varying levels of access to administrative staff and Associates. Confidential
passwords will be assigned at the Management level, Administrative staff level
and Associate level. While management has access at all levels, administrative
staff would not access any confidential information.

Associates/assistants will be able to access office listings.

2.5.2    FRONT DESK

This application is designed for the use of front desk personnel and management.
Users will have fast access to and information on office listings; record and
track sign and ad calls from consumer prospects and other Associate inquiries,
record showing appointments, print/e-mail or page a notification message for the
listing Associate. The system will provide the capability to view listings by:

-        Street.

-        Associate name.

-        Price range.

-        MLS number.

-        Other user definable criteria.

This application will feature an electronic in/out board to assist the
receptionist in managing in-coming calls.

The Front Desk functionality will include the quick listing lookup features
described above for Front desk as well as floor duty Associates.

LISTING INFORMATION

Listing information will be accessible and viewed by administrative staff or
sales associates such as the floor duty Associate. The listing information will
include a complete record of activities associated with a specific listing
including, showing appointments, ad/sign calls, inquires by other Associates.

AD CALLS AND SIGN CALLS

<PAGE>

A receptionist or `call coordinator' shall be able to record the source, date
and time of the call as well as the name and phone number of the caller
including notes. Also the address of the property and listing Associate will be
accessible.

Additionally reports will be available to be generated to assist the Affiliate
in measuring the effectiveness of advertising and follow-up on leads assigned to
Associates.

SHOWING APPOINTMENTS

Appointments to show office listings may be set by the call coordinator or the
listing Associate. The showing Associate's office, Associates name, date and
time and relevant information can be easily entered and linked to the specific
listing. The showing information will be linked to the listing record and can be
printed or e-mailed to the listing Associate.

SHOWING FEEDBACK

The system will provide the ability to receive feedback from the showing
Associate. A form will be available requesting feedback that can be
faxed/e-mailed to the showing Associate. It can be easily completed and sent
back to the user. The information will be automatically added to the Listing
record.

ACCESS TO LEAD MANAGEMENT COMPONENT

Prospect information from ad and sign calls including general inquiries,
walk-ins can be generated and entered into the Lead Management Component. This
information can be assigned to a specific Associate to follow-up. The `call
coordinator' will also use follow-up to enable the assigned Associates to
contact prospects.

ACCESS TO ASSOCIATE/EMPLOYEE INFORMATION COMPONENT

This feature will allow the user to enter or view basic information on sales
associates and office employees including contact/e-mail numbers, temporary
notes (vacation dates, floor duty times) and personal information.

IN/OUT BOARD

The I/O Board will allow monitoring of which Associates are in the office and
who is out. This feature will integrate with the Associate/Employee Information
Component to post messages, instructions, expected return time, etc.

MESSAGES & PAGING

A built-in electronic message capability eliminates incomplete or illegible
written messages. Messages can be e-mailed or printed for distribution to sales
associates.

ASSOCIATE EXPENSE TRACKING & BILLING

The user will have the ability to enter and track the use of supplies and
services by Sales Associates and employees. This feature will integrate with
Transaction and Associate Accounting for the preparation of Associate invoices.

REPORTS

The Front Desk component will provide reports including:

-        Office listing inventory.

<PAGE>

-        Listing activity report: recording sign/ad calls and showing reports.

-        Daily activity report: records new listings, price changes, and other
         information.

-        Advertising analysis report designed to determine effectiveness of
         advertising including signage.

-        Prospect list including the name, assigned Associate name, and prospect
         source.

-        Associate Account and Statement.

2.5.3    OFFICE MANAGEMENT

This Component shall include the following items including transactions for
listings, closings, Sales Associates and office information:

-        Sales Management (the ability for Affiliates to monitor progress and
         productivity by viewing listings, closings, and SA/office
         productivity).

-        Transaction and Administration (Residential Listings, Residential
         Commissions and Disbursements).

-        Associate/Employee Information (name, address, Social Security #,
         phone, e-mail, etc.).

2.5.3.1  SALES MANAGEMENT

Falcon will provide the ability for Affiliates to monitor office progress and
productivity by viewing listings, closings, and SA/office productivity. Office
productivity data will be available through on-screen and printed reports.
Management will have the ability to monitor types of leads/referrals both sent
and received. This includes the capability of assigning leads to sales
associates including tracking and follow up.

Falcon will provide Affiliates with strategic management information and reports
for aspects of their business. This will include a wealth of reporting on
company listings, closings, referrals, Associate-performance and office
productivity.

2.5.3.2  TRANSACTION AND ADMINISTRATION

RESIDENTIAL LISTINGS

Falcon will maintain comprehensive listing records.

The Listing Record Fields are given in the Appendices.

RESIDENTIAL COMMISSIONS AND DISBURSEMENTS

Falcon will maintain comprehensive transaction records. The system will allow
for the entry and user defined design of incentive programs for Sales
Associates. It will allow for multiple plans for a single SA, allowing different
splits for company or self generated leads. Related commission payment data and
deduction information can be transferred to Affiliates accounting software.

Falcon will provide the ability to preview anticipated payments to be made at
closing and will export payments amounts to user's accounting package for check
printing. Falcon will not accommodate the printing of checks.

The Residential Transaction record fields are given in the Appendices.

<PAGE>

2.5.3.3  ASSOCIATE/EMPLOYEE INFORMATION

Comprehensive records will be maintained on associates and employees. In
addition to general information, sales associate records will contain their
transaction records, sales productivity, pay/incentive plan specifics, standard
Associate deductions and account details, coaching/recognition action plans and
notes.

The Associate/Employee record fields are given in the appendices.

2.5.4    AFFILIATE REFERRAL MANAGEMENT

The system will provide the ability to track the life cycle of referrals both
sent and received. The Affiliate may apply customized follow up plans to track
and determine the status of each referral during the life cycle. The Affiliate
will be able to assign referrals to Sales Associates and automate the tracking
and follow-up. For example, confirmation that the Sales Associate has made
contact with the referred prospect and is providing the level of service
necessary to convert the referral into a transaction.

The objective is to convert a much higher percentage of referrals to
transactions.

2.5.5    AFFILIATE LEAD MANAGEMENT

Falcon shall include a Lead Transmission Standard (LTS) interface to Lead
Sources. Affiliate Lead Management will interact with these interfaces to
support Affiliate lead requirements.

Falcon will provide a call coordinator ability that allows the Affiliate or
office call coordinator to capture in-coming leads in its database and to assign
company generated leads to the Associates on a manual or automatic rules based
rotation basis. The rules for automatic distribution will include the Affiliates
option of, or combination of, alphabetic rotation, Associate specialty,
Associate volume or selected Associates only in rotation.

At the Affiliate's option, fees resulting from company leads that convert into
sales, can be automatically split at a higher rate by the commission calculation
section of the program.

The lead management functionality will generate reports on lead closing ratios
so the Affiliate can coach Associates and reward or restrict future leads based
on performance. Lead conversion ratios and lead details will be consolidated
with other productivity benchmarks in the Associate's record for on-going sales
management. Managers will be able to conduct coaching sessions with the
distributed lead names at their fingertips, allowing them to more effectively
probe closing ratios. Managers will be able to determine whether the leads were
really worked. If the Associate is not working the leads, the associate, who may
be doing reasonably well already, simply needs to be removed from the lead
distribution rotation.

The Lead record fields are given in the Appendixes.

<PAGE>

2.5.6    TRANSACTION AND ASSOCIATE ACCOUNTING

Falcon will provide Affiliates with tools that supply accounting features to
manage the specific accounting needs of an Affiliate company. This will include
Transaction Accounting, General Business Journal, Vendor Payables, Associate
invoices/billing/receivables and Trust Accounting.

TRANSACTION ACCOUNTING

The `Distribution and Deduction' functionality' will include the accounting
entries in the closing/escrow transaction. This includes:

-        Closing Commission

-        Gross Commission on the listing and selling side

-        Other Income & Bonus commissions

-        Referral fees and other Off-the-top deductions

-        Book of Business fees

-        Remaining Gross Commission

-        Remaining-in-house Commission

-        Gross Associate Commission

-        Associate deductions

-        Associate other income & bonus

-        Associate credits

-        Company Dollar

-        Net Income

GENERAL BUSINESS JOURNAL

The system is designed to use the General business journal (GBJ) as the staging
area for accounting entries to be exported to the Affiliate's primary accounting
program. It will include a `General Ledger' functionality to analyze the GBJ
entries and provide reports based on specific date range and criteria: Monthly
totals, Journal entries by account, Check register and Cash flow.

VENDOR INVOICES/ASSOCIATE BILLING/ASSOCIATE INVOICING

This vendor/payables features includes the ability add, edit and delete invoices
received from outside vendors, journalize the payment of these invoices and bill
the Sales Associates for the portions of the invoices they owe. Vendor invoices
can be sorted by; name, paid or unpaid. A history is kept of business with each
vendor in the contact record.

The system allows single invoices to be conveniently `spread' across multiple
Associates greatly easing data entry. Tag lists, groups of Associates names, can
be saved and used for billing Associates. Each Associate's account is
simultaneously posted the correct debit amount.

Associate/Employee credits, monies received, can be applied to a specific debit
account item in the Associate's account record. In addition, the employee credit
can be applied to the Affiliate's accounting program as a credit to an expense
account.

TRUST ACCOUNTING

The system will track and manage escrow/trust accounts and can provide
notification of aged accounts and interest details.

The Trust account journal is primarily used for audit purposes. The Trust/Escrow
displays: Summary of Closings in Trust, Trust Account Journal, Trust Account
Ledger. The Trust Account

<PAGE>

Journal and Summary of Closings in Trust can be viewed by a user selected "as of
date" and printed in a statement format to include the total amount of funds
being held in trust.

2.5.7    ACCOUNTING INTERFACES

Falcon shall provide the functionality to allow the transfer of income, expense
and SA billing/deduction information from the Affiliate Component to certain
third party accounting applications. The system will provide import of COAs and
exports to Quick Books and Great Plains.

2.5.8    ADVERTISING MANAGEMENT

Falcon shall allow brokers to budget, track and log advertising usage and costs
and will facilitate per agent billing.

2.5.9    TODAY'S BUSINESS AND SCHEDULE

The system will provide management and administrative staff with a centralized
`Today's business' calendar of appointments, reminders, follow-up calls, tasks
and events relating to customers, Sales Associates and general marketing. There
will be both a calendar view and to-do compartments that allow batch printing,
etc.

Action plans will be available that contain call reminders, pre-written
sequenced letters, postcards, email and to-dos. These plans will be assignable
to contacts, Associates, listings and closings.

2.5.10   ONLINE AND PRINTED MANAGEMENT REPORTS

The system will provide an array of screen and printed management reports for
analysis and business management of the Affiliate. The reports can include
listing/closing and SA reports for both single and multi-office environments.
The reporting feature will support consolidation of multi-office company data
and will be governed by the security rules set up by the Affiliate.

Standard office management reports will include:

LISTING REPORTS

-        Active Listings by Associate

-        Listings by Property Type and City

-        Listings by Source

-        Active Listings by Office

-        Average List Price Trend Analysis Graph

-        Listed Volume Trend Analysis Graph

-        Listed Units Trend Analysis Graph

-        Listing Generation: Associate vs. Company

CLOSING REPORTS

-        Pending Transactions by Office

-        Pending Transactions by Associate

<PAGE>

-        Closed Transactions by Office

-        Closed Transactions by Associate

-        Closed Transactions by Source

-        Closing Analysis: In-House vs. Co-Broker

-        Company Dollar Trend Analysis Graph

-        Average Sale Price Trend Analysis Graph

-        Sold Volume Trend Analysis Graph

-        Sold Units Trend Analysis Graph

-        Closing Generation: Associate vs. Company

ASSOCIATE/EMPLOYEE REPORTS

-        Associate Listing Performance

-        Associate Closing Performance

-        Associate Rankings

-        Associate Payments to Company

-        Associate Earnings Graph

-        Associate GCI Allocation Graph

-        Associate RIC Allocation Graph

-        Associate Company Dollar Allocation Graph

-        Associate Unit Allocation Graph

-        Associate Sales Volume Allocation Graph

-        Associate Commission Deductions

REFERRAL REPORTS

-        Referral Volume by Type

-        Received Referrals by Source

-        Sent Referrals by Recipient

-        Pending Referral Receivables/Payables

-        Paid Referral Receivables/Payables

2.5.11   ADVANCED REPORT WRITER

The Falcon Affiliate component shall include the Top Producer Online Advanced
Reporting solution. This solution will include features such as:

-        Scheduled reports.

-        End user tailor-able reports, to allow column reordering, column
         suppression, column sorting, column and row shading, tailored Headers
         and Footers and look and feel variation via fonts & bolding.

-        Report data export to PDF, Excel & text formats.

2.5.12   SERVICE CENTER(TM)

The Service Center(TM) provides Affiliates and Associates with an automated
workflow application that facilitates the tracking and incubation of leads and
referrals within a Brokerage and in co-ordination with the Associates in that
Brokerage.

<PAGE>

2.5.13   BRAND SPECIFIC AFFILIATE REQUIREMENTS

None unless specified in section 2.14.

2.5.14   NRT SPECIFIC AFFILIATE REQUIREMENTS

There are no NRT specific Affiliate requirements.

<PAGE>

2.6      ASSOCIATE COMPONENT REQUIREMENTS

This section specifies requirements for the Falcon Associate Components. Unless
otherwise stated, these requirements are also requirements of the Associate's
assistant.

For the purposes of this document, the Associate Component is also referred to
as the Sales Associate Component (SAC).

2.6.1    GENERAL

The Sales Associate Component (SAC) shall:

-        Supply a Comprehensive Associate level productivity feature set.

-        Be web-based.

2.6.2    LISTING AND CLOSING MANAGEMENT

The SAC shall have:

-        The ability to enter listing information in detail.

-        Task checklists.

-        Follow-up reminders.

-        A journal of activities for parties involved in the transaction.

-        Contact record updates.

-        The ability to store information for historical and legal purposes.

Listings system feature set:

-        The user will be able to create a listing file for any properties
         associated to the seller's record. This file will include: Listed
         property address, Property Photo(s), Property details, Listing status.

-        Activity tracking - Activity tracking encompasses checklists, follow up
         reminders, and registering activities completed back to any of the
         closing parties associated.

-        Listing notes.

-        Include/excluded (from the sale).

-        Direct link to the seller's record.

-        Ability to automatically create a closing/escrow transaction.

-        Marketing statistics.

-        Ability to auto-dial the seller.

-        Listing reports.

-        Listing deletion.

-        Ability to display a summary of Listings.

-        Rolodexing from one listing to the next.

-        Listing expiration reminder system.

-        Ability to automatically generate a 100% completed flyer/brochure from
         completed listing form.

-        Ability to search for listings by date range.

-        Automatic communication of listing record to back office system for
         acceptance into inventory.

-        Synchronization with the TOP PRODUCER for Palm Computing Connected
         Organizers.

-        Tracking of total inventory value.

-        Automatic and user updated seller service reporting with timed delivery
         reminders.

<PAGE>

2.6.3    CLOSING SYSTEM MANAGEMENT

The Associate will be able to create a closing file for any properties
associated with a contact record. This file will include;

-        Closing property address

-        Property Photo(s)

-        Property details

-        Closing Status - automatically updates listing status

-        Ability to add an unlimited amount of participants to a closing
         transaction

-        Ability to auto dial any of the parties involved in the transaction

-        Ability to create e-mail, letters, postcards, envelopes, labels for one
         or more of the closing parties.

-        Direct link to participating party's records

-        Ability to automatically display the listing record

-        Activity tracking

-        Closing notes

-        Ability to display a summary of Closings

-        The ability to generate closing reports

-        Deletion of the Closing

-        Ability to Rolodex from one Closing transaction to the next

-        Service reporting

-        Closing activities

-        Ability to search for Closings by a date range

-        Closing parties Master list - this feature stores a list of closing
         participants most commonly used in closing transactions

-        Locking of transaction details and parties involved when transaction is
         completed.

-        Automatic updating of Sellers and Buyers records at the end of the
         transaction

-        Tracking of Total Volume and Total Commissions

2.6.4    ASSOCIATE REFERRAL MANAGEMENT

The Falcon Affiliate Components include an Affiliate Referral Management
Component that will deliver referrals to the Associate. Associate Referral
Management will interact with Affiliate Referral Management in receiving
referrals, reporting on the status of referral follow-up, and in the
notification of the conversion of a referral to a listing, closing etc.

The objective is to convert a much higher percentage of referrals to
transactions.

2.6.5    ASSOCIATE LEAD MANAGEMENT

The Falcon Affiliate Components include an Affiliate Lead Management Component
that will deliver Leads to the Associate. Associate Lead Management will
interact with Affiliate Lead Management in receiving leads, reporting on the
status of follow-up, and in the notification of the conversion of a Lead to a
listing, closing etc.

The Lead record fields are given in the Appendixes.

<PAGE>

2.6.6    TODAY'S BUSINESS AND SCHEDULE

The SAC shall provide the functionality to:

-        Prompt Sales Associates with daily reminders and follow-ups.

-        Provide the ability to set up a series of events for customer
         follow-up.

-        Create marketing programs.

-        Provide a listing checklist or transaction closings that result in time
         released reminders.

-        Provide a printable calendar.

The system will have an appointment scheduler with day, week, month, and year
views. The system will have a reminder system showing the user how many to-do's,
scheduled calls, appointments, letters, postcards, emails, envelopes and leads
for follow-up are pending for completion.

If a user misses an activity it will not disappear into an old business file or
only show on the day it was scheduled for, it will persist to show until
completed or until the user chooses to update or delete the activity. The user
will however have the ability to have reminders/events drop off the list within
a certain time frame if they wish.

The primary follow-up system for long term communications with prospects will be
the Action Planner system. The Action planner system will allow the user to
select a predefined marketing system of follow up items, to-do's, letters,
postcards, envelopes, labels, e-mails, and calls to be associated to a contact.
When an item comes due it will be shown in the reminder system for automatic
completion.

The system will have a master checklist system for the Listing and Closing
systems. These checklists are completely user definable, and function very
similar to the way the Action Planner System functions.

The reminder system will have a complete set of printable reports that the user
may select to print.

2.6.7    COMPARATIVE MARKET ANALYSIS (CMA) PRESENTATIONS

Comparative Market Analysis (CMA) formats shall include:

-        Graphs photographs and charts.

-        Brand specific materials where desired.

-        Allowance for editing of information.

-        The ability to be "filed" as part of the contact record.

-        The generation of printed CMAs.

Sales Associates shall be able to store and retrieve a variety of CMA
presentations.

CMA CREATION

Falcon's CMA will have the ability to work with the subject property data,
active listings, pending listings, expired listings, and recent sales.
Comparable property data will be editable and customizable by the user.

The subject property and its information will automatically transfer from the
contact record, saving redundant data entry for the user. CMA's will be saved
attached to the contact record for easy retrieval and historical purposes.

The CMA will have the capability to apply appraisal style adjustments to any
comparable property.

<PAGE>

The CMA will provide the option of automatically generate the suggested selling
price or price range for the subject property.

The user will have the ability to reorder the CMA comparables in any order that
they wish to present them.

LISTING PRESENTATIONS

The CMA application will also have the ability to create a number of different
Listing Presentation templates for different types of customer properties.

BUYER PRESENTATIONS

The CMA application will have the ability to create an amount of Buyer
Presentation templates for different types of property showings. There will be a
feature for estimated monthly payments, which will include colorful graphs.

The Sales Associate Component and the Service Center will access IP based
systems sites via the Internet. TOP PRODUCER's MLS connectivity division has
already completed IP access utilities and is working with the majority of
Internet based MLSs. Depending on the MLS, these access utilities support either
a facility for automatic import into the Sales Associate Component or an export
then import approach.

2.6.8    MOBILE COMPUTING APPLICATIONS (MCAs)

Falcon shall include a Mobile Computing Application (MCA) that supplies the
following features:

-        Contact Management

-        Listing and Closing Management (based on Associate data)

-        Associate Referral Management

-        Associate Lead Management

-        Today's Business and Schedule

The MCA will be designed for Associate use. It is expected that Affiliates will
use the Contact Management and Today's Business and Schedule Components but it
is important to note that the other Components will be oriented toward Associate
Functionality.

The MCA will be based on the TOP PRODUCER for Palm Computing Connected
Organizers.

Through utilizing TOP PRODUCER's Data-Sync technology, the server site will
synchronize any database modifications that occurred in the MCA while offline.

2.6.9    BRAND SPECIFIC ASSOCIATE REQUIREMENTS

None unless specified in section 2.14.

<PAGE>

2.6.10   NRT SPECIFIC ASSOCIATE REQUIREMENTS

There are no NRT specific Associate requirements.

<PAGE>

2.7      DATA EXCHANGE AND STANDARDS ADHERENCE

Falcon shall make use of and support data standards approved as these standards
are adopted within the Real Estate Industry and endorsed by Cendant.

LEAD TRANSMISSION STANDARD (LTS v2.0)

The Lead Transmission Standard (LTS), a TOP PRODUCER initiated industry
standard, will be used in the interface between Falcon and Lead sources such as
the Cendant Brand Consumer sites.

RETS XML STANDARD

Falcon will, when appropriate, employ the N.A.R./WWW3 RETS XML data standard for
CMA acquisition.

<PAGE>

2.8      DATA MIGRATION FROM TOP PRODUCER PRODUCTS

Falcon shall include functions to allow the migration, via a one-time import, of
data from certain TOP PRODUCER products. The following products will be
supported;

ASSOCIATE DATA MIGRATION

-    Top Producer System 6 for Coldwell Banker

-    ERA Professional Advantage

-    Top Producer System 6 Standard Edition

Any other migrations will be considered additions and be quoted separately.

<PAGE>

2.9      DATA IMPORT AND EXPORT

2.9.1    AFFILIATE DATA EXPORT

Falcon shall have the capability to extract copies of Affiliate records
(Associate/Employee, Contact, Listing etc.) upon request based upon appropriate
monitoring and authorization controls. Records will be distinguished by type
(Associate/Employee, Contact, Listing etc.) each record being a text file. The
format of the exported data will be user definable in respect to field order,
delimiters, etc.

Appropriate security will be determined in consultation with Cendant.

2.9.2    ASSOCIATE DATA IMPORT

Falcon shall have the capability to import contact data from CSV files.

2.9.3    ASSOCIATE DATA EXPORT

Falcon shall have the capability to extract copies of Associate records
(Listing, Closing, Contact etc.) upon request, based upon appropriate monitoring
and authorization controls. Records will be distinguished by type (Listing,
Closing, Contact etc.), all records of each type will be in a text file. The
format of the exported data will be user definable in respect to field order,
delimiters, etc.

<PAGE>

2.10     PERFORMANCE AND THROUGHPUT REQUIREMENTS

2.10.1   HOST TRANSACTION LEVELS

The following is based on the estimated Listing and Closing Transaction figures
contained within Cendant's Falcon RFP.

TOTAL POTENTIAL USERS

224,000 users. 200,000 current Associates, average of 2 staff per office x
12,000 offices = 24,000.

Estimated Users in the First 12 Months of deployment.
Office Management 4,000
Front Desk 4,000
Associates 70,000
Total Users 78,000 - 35% of 224,000 potential users

ESTIMATED LISTING AND CLOSINGS PER DAY / PER OFFICE

Average Listings taken per day / per office estimated at 1.25
Average Closings per day / per office estimated at .25

LENGTH OF WORK DAY

Average Length of workday based on the time zone difference between the East and
West Coast is estimated at 11 hours

OFFICE MANAGEMENT TRANSACTION LEVELS

<TABLE>
<CAPTION>
Component                       Operations/       Operations/      Transactions/      Transactions/
                                    Day           5 day Week            Day               Week
<S>                             <C>               <C>              <C>                <C>
New contact entry                   4                20                 4                20
New listing entry                   1.25              6.25              1.25              6.25
New closing entry                   0.25              1.25              0.25              1.25
Entering and                        0.5               2.5                .5                 3
Tracking Referrals
Contact lookups                    50               250                 0                 0
Full record display                50               250                 0                 0
Save of new notes                  30               150                30               150
Letters printed                    50               250                50               250
Scheduled calls                    50               250                0                  0
retrieval and
associated record
display
Group lookups                       2                10                 0                 0
Schedule appointments               5                25                 5                25
Print schedule                      1                 5                 0                 0
Display today's business            5                25                 0                 0
Ad / Edit deductions                0.25              1.25              0.25              1.25
Disburse Closings                   0.25              1.25              0.25              1.25
Lock Closings                       0.25              1.25              0.5               2.5
</TABLE>

<PAGE>

<TABLE>
<S>                               <C>              <C>                   <C>               <C>
Access listing Activities          10                50                    0                 0
Print General Report                5                25                    0                 0
Send E-mail                        10                50                   10                50
Receive / open e-mail               2                10                   10                50
save in History file
Access Closing Activities          10                50                    0                 0
Processing Vendor Payables          1                 5                    1                 5
Billing Associates                  2                10                    2                10

TOTALS                            289.75           1448.75               115               575
</TABLE>

<TABLE>
<S>                                                                <C>
Potential Number of Users Accessing the System / First 12 Months       4,000
Average Transactions per Week                                      2,300,000
Average Transactions per Hour                                         41,818
Average Transactions per Minute                                          697
Average Number of Transactions Per Second                                 12
</TABLE>

FRONT DESK TRANSACTION LEVELS

<TABLE>
<CAPTION>
Component                       Operations/      Operations/     Transactions/     Transactions/
                                    Day          6 day Week           Day              Week
<S>                             <C>              <C>             <C>               <C>
Book and confirm                    10               60               10                60
appointments
Add / Edit outside                  10               60               10                60
associate and
Broker information
Add / New Edit                      10               60               10                60
existing appointments
Appointment details,                20              120                0                 0
viewed, Paged,
e-mailed, or printed
Record outside Affiliate            10               60               10                60
and associate comments
made prior to and
after showings
Co-ordinate and track                3               18                3                18
keys and lockbox
key appointments
Audit tracking to                    3               18                3                18
display or print
reports for appointments,
showings, and
messaging activities.
Take messages                       80              480               80               480
Electronic In/Out Board             90              540               90               540
Send letter, postcard               30              180               30               180
envelope or label
Automatic multi-office              12                2               12                 2
data transfer and tracking
Broadcast fax and e-mail/            3               18                3                18
Flyers and Feature Sheets
Uploading of Listing                 2               12                0                 0
information to both
public and private web sites
Search listings                     50              300                0                 0
</TABLE>

<PAGE>

<TABLE>
<S>                               <C>              <C>               <C>               <C>
Enter and edit listing               5               30                5                 30
Information
Display or print listing             2               12                0                  0
activity and status
reports for sales associates,
seller management
Listing hot sheet                    1                6                0                  0
Electronic listing board             1                6                0                  0
Key word searches for               10               60                0                  0
Front Office Transaction
 Estimates cont.

Send company wide and               10               60               10                 60
group message,
pages, or e-mail
message retrieval
Display or print reports             2               12                0                  0
Enter Ads for each listing           3               18                3                 18
Search ads for listings              3               18                0                  0
Edit ads for listings                3               18                3                 18
Track advertising costs              1                6                1                  6
for Listings
Create ad layouts for real           0.25             1.5              0.25               1.5
estate publications

TOTALS                             364.25          2185.5            273.25            1639.5
</TABLE>

<TABLE>
<S>                                                                <C>
Potential Number of Users Accessing the System / First 12 months       4,000
Average Transactions per Week                                      6,558,000
Average Transactions per Hour                                         99,364
Average Transactions per Minute                                         1656
Average Number of Transactions Per Second                                 28
</TABLE>

ASSOCIATE TRANSACTION LEVELS

<TABLE>
<CAPTION>
Component                        Operations/         Operations/      Transactions/     Transactions/
                                    Day              6 day Week            Day              Week
<S>                              <C>                 <C>              <C>               <C>
New contact entry                  3                    18               3                 18
New listing entry                  0.25                  1.5             0.25               1.5
New closing entry                  0.25                  1.5             0.25               1.5
Contact lookups                   50                   300               0                  0
Full record display               50                   300               0                  0
Save of new notes                 30                   180              30                180
Letters printed                   50                   300              50                300
Scheduled calls                   50                   300               0                  0
retrieval and
associated record
display
Group lookups                      2                    12               0                  0
Schedule appointments              5                    30               5                 30
Print schedule                     1                     6               0                  0
Display today's business           5                    30               0                  0
Print flyers / Brochures           0.25                  1.5             0                  0
Create CMA's and                   2                    12               2                 12
Buyer Presentations
</TABLE>

<PAGE>

<TABLE>
<S>                              <C>                  <C>               <C>                <C>
Store photos                          3                   18                3                18
Access property statistics           10                   60                0                 0
Access listing activities             5                   30                0                 0
Enter items to marketing             10                   60               10                60
service report
Print marketing reports               2                   12                2                12
Print general report                  1                    6                0                 0
Buyer seller match                   20                  120                0                 0
Send email                           10                   60               10                60
Receive/open email                    5                   30                5                30
stored in history
Look up awards                        1                    6                0                 0

TOTALS                              315.75              1894.5            120.5             723

Synchronization                     180.75              1084.5
</TABLE>

TOTALS

<TABLE>
<S>                                                                <C>
Potential Number of Users Accessing the System / First 12 Months       70,000
Estimated Number of Users Synchronizing Data / First 12 Months         14,000
Average Transactions per Week*                                     55,671,000
Average Transactions per Hour *                                       843,500
Average Transactions per Minute*                                       14,058
Average Number of Transactions Per Second *                               234
</TABLE>

*Calculated assuming 56,000 on line users, and 14,000 synchronizing users.

2.10.2   RESPONSE TIME

The transaction levels specified in the preceding section shall be sustained
while maintaining single page screen update response times to, for a browser on
a 56-Kb connection, of less than 10 seconds.

<PAGE>

2.11     SECURITY, ADMINISTRATION AND SYSTEM MANAGEMENT

2.11.1   SECURITY

Falcon shall contain the following security feature approaches.

PROTECTED DATA TRANSMISSION ACROSS THE INTERNET

Falcon shall use secure SSL connections (HTTPs) for data encryption over the
Internet.

Where TOP PRODUCER deems appropriate, Falcon will utilize 128-bit encryption.

PROTECTING SERVERS FROM UNAUTHORIZED ACCESS

The Falcon System will behave like a standard web site, and be maintained at the
Denver operations center. Since the system is to be housed at the Denver
operations center it will be protected behind Cendant's own security measures.

AUTHENTICATING USER IDENTITIES

Falcon shall use a standard user name and password system.

2.11.2   ADMINISTRATION

Falcon shall have a web front end that will allow Cendant to administer its
Affiliate members. This module will permit Cendant to:

-    Add, change or remove Affiliate from the system

-    Set Affiliates access levels

-    Issue and reset Affiliate passwords for entry into the system

A similar component will be used to allow Affiliates to add, change or remove
new Sales Associates to the system. The Affiliates will also be able to restrict
access to certain areas of the system, set passwords and privileges.

2.11.3   SYSTEM MANAGEMENT

Monitoring tools shall be supplied to supplement the tools within the operating
system and database. These tools will provide Cendant's Administrator a means to
analyze, track and summarize various aspects of the entire system including
information, warning and error messages reported by the application. By using
all these tools, the administrator can detect application, server and
database-related problems, monitor performance, tune the system, and plan
upgrades and system maintenance.

The Falcon application shall be "instrumented". This means that the application
will have various counters whose value will indicate the current state of the
system. These monitoring tools, at periodic intervals, will take snapshots of
these counters and record them. This record of numbers versus time can be
monitored, used to provide trends and exported to a spreadsheet for detailed
analysis and generation of reports.

<PAGE>

Information captured by the application will include:

-    The number of users currently logged onto the system

-    The number of users using a component or a feature

-    The length of time a user is logged on

-    The length of time a user uses various components

-    The amount of space in the database that a user uses

-    The time taken to complete a transaction

-    The number of transactions completed and aborted

-    The number of pending requests

Information captured by the operating system and database will include:

-    CPU utilization (number of processes and threads, % user time, cache hit
     ratio)

-    Memory utilization (number of page faults, memory allocated)

-    Disk utilization (disk reads saved, number of reads and writes per second)

-    Network utilization (bytes read and written per second, number of sessions)

-    Locks (number of row, page and table locks, total number of locks, average
     wait time)

-    Transaction logs (log growth, log truncates, log flushes per second)

<PAGE>

2.12     ARCHITECTURE REQUIREMENTS

2.12.1   TECHNOLOGY BASE

Falcon shall be based on Microsoft Operating System, Database, Web Server and
Language Technologies. The following software products will be employed:

-    IIS 5.0

-    MS SQL Server 2000

-    Windows 2000 Server edition

2.12.2   DATABASE SERVER

Falcon shall utilize it's own database, distinct from the CREST/EDG database, as
the structure and data elements necessary for Affiliate and Associate
requirements differ significantly from those of CREST/EDG.

The database server will be Microsoft SQL Server 2000 (MSSQL), a database that
has proven capable of handling a large number of concurrent users and large
volumes of data at a favorable price-to-performance ratio.

2.12.3   3-TIER ARCHITECTURE

The Falcon Application architecture shall be based on the 3-tier network
computing architecture. The 3-tier architecture has proven to be the best for
enterprise-scale applications, providing for performance, scalability,
robustness and manageability. From a development perspective, distributing the
software across three layers allows it to be understood by developers,
constructed and flexible enough to accommodate Cendant's changing business
scenarios and future requirements.

2.12.4   AFFILIATE AND ASSOCIATE CLIENT MACHINES

Online functionality whether Affiliate or Associate, will be accessible through
a DHTML 4.0 compliant Web browser. The recommended browsers will be IE 5.5 and
above.

2.12.5   MOBILE COMPUTING APPLICATION (MCA) PLATFORMS

Mobile Computing Applications (MCAs) will be supplied for Palm Platforms. These
applications will use technologies appropriate to that platform, as determined
by TOP PRODUCER in its reasonable discretion.

<PAGE>

2.13     SCOPE, BRAND SPECIFIC FUNCTIONS AND OPTIONS

2.13.1   SCOPE

With the exception of the Specific Inclusions and Exclusions (below), the scope
of Falcon is that functionality specifically stated within section 2 of this
document. All other functionality shall be assumed to be out of scope and if
requested, will be quoted separately.

SPECIFIC INCLUSIONS AND EXCLUSIONS

Falcon will support brand specific key management numbers as a click through to
Crest.

TOP PRODUCER will, in the Falcon product: provide an interface to a web based
training system only.

TOP PRODUCER will, in the Falcon product: provide interfaces to Great Plains and
Quickbooks general ledger accounting systems.

TOP PRODUCER will not be responsible for making changes to other Cendant
systems, such as Crest, during the integration of Falcon with these systems.

2.13.2   BRAND SPECIFIC FUNCTIONS

Falcon will support Brand specific Special Markets functionality. This will be
quoted separately.

Falcon will support brand specific company dollar calculations. This will be
quoted separately.

Falcon will support brand specific team functionality. This will be quoted
separately.

Falcon will support a desk count for Coldwell Banker. This will be quoted
separately.

Falcon will support brand specific reports. These will be quoted separately.

2.13.3   OPTIONS

At Cendant's option, TOP PRODUCER could design, create and produce training on
the effective use of Falcon and its components, which would be video indexed for
on-demand delivery. This would be quoted separately.

At Cendant's option, TOP PRODUCER could make a Listing Presentation available as
part of the Falcon offering. This would be quoted separately.

At Cendant's option, TOP PRODUCER could incorporate a Mapping option into the
Listing Presentation. This would be quoted separately. Any map acquisition
licensing would also be quoted separately.

At Cendant's option, TOP PRODUCER could incorporate the TOP PRODUCER Advanced
reporting solution. This would be quoted separately.

<PAGE>

At Cendant's option, TOP PRODUCER could produce additional Affiliate and
Associate reports. These would be quoted separately.

At Cendant's option, additional custom interfaces for accounting packages other
than Peachtree, QuickBooks and Great Plains could be developed. These would be
quoted separately.

<PAGE>

3        APPENDICES

3.1      CONTACT RECORD FIELDS

A contact record will contain the following fields:

-    Record Type

-    Contact Types

-    Primary Contact Mr./Ms.

-    Primary Contact First Name

-    Primary Contact Middle Name

-    Primary Contact Last Name

-    Primary Contact Title

-    Primary Contact Designation

-    Primary Contact Gender

-    Secondary Contact Mr./Ms.

-    Secondary Contact First Name

-    Secondary Contact Middle Name

-    Secondary Contact Last Name

-    Secondary Contact Title

-    Secondary Contact Designation

-    Secondary Contact Gender

-    Letter/Postcard Salutation

-    Envelope/Label Salutation

-    Street Address

-    Suite Number

-    Building/Floor

-    City

-    County

-    State

-    Zip

-    Country

-    Home Phone

-    Business Phone

-    Mobile Phone

-    Pager

-    Fax

-    Email

-    URL

-    Other Phone Numbers

-    Other Internet Addresses

-    Company

-    Primary Agent

-    Default COA No. (if applicable)

-    MLS ID (if applicable)

-    Federal Tax ID (if applicable)

-    Action Plans

-    Business History

-    Notes

<PAGE>

3.2      RESIDENTIAL LISTING RECORD FIELDS

A residential listing record will contain the following fields:

-    Affiliate ID

-    Office ID

-    ATR Number

-    MLS Number

-    Status

-    Listing Date

-    Renewal Date

-    DOM

-    Renewal Reminder Date

-    List Price

-    Listing Type

-    Listing Source

-    Listing Lead Owner

-    Listing Referral Number

-    Listing Associates (Link)

-    Area

-    Street Address

-    Suite Number

-    Building/Floor

-    City

-    County

-    State

-    Zip

-    Country

-    Sellers (Link)

-    Seller Type

-    Directions

-    Showing Instructions

-    Seller's Terms

-    Listing Activity Plans (Link)

-    Listing History

-    Notes

-    Property Photos

-    Year Built

-    Last Sold Date

-    Zoning

-    Lot Size

-    Square Feet

-    Cost/Square Foot

-    Number of Levels

-    Tax Roll Number

-    Annual Taxes

-    Next Tax Assessment Year

-    Building Style

-    Exterior

-    Roof

-    Flooring

-    Fireplaces

<PAGE>

-    Heating

-    Air Conditioning

-    Parking

-    RV Parking

-    Nearest Transit

-    Number of Bedrooms

-    Number of Bathrooms

-    Attached

-    Construction

-    Basement

-    Site/View

-    User Definable Property Features

-    Room Dimensions:

-    Master Bedroom

-    Bedroom 2

-    Bedroom 3

-    Bedroom 4

-    Bedroom 5

-    Living Room

-    Family Room

-    Dining Room

-    Kitchen

-    Den

-    Laundry Room

-    Workshop

-    Other Room 1

-    Other Room 2

-    Other Room 3

<PAGE>

3.3      RESIDENTIAL TRANSACTION RECORD FIELDS

A residential transaction record will contain the following fields:

-    Affiliate ID

-    Office ID (Listing)

-    Office ID (Selling)

-    ATR Number

-    MLS Number

-    Status

-    Contract Date

-    Closing Date

-    DOM

-    Possession Date

-    Sale Price

-    Selling Source

-    Selling Lead "Owner"

-    Selling Referral Number

-    Listing Associates (Link)

-    Listing Associates' Role/Participation

-    Listing Associates' Listing Credit

-    Selling Associates (Link)

-    Selling Associates' Role/Participation

-    Selling Associates' Selling Credit

-    Co-Broker Company (Link)

-    Street Address

-    Suite Number

-    Building/Floor

-    City

-    County

-    State

-    Zip

-    Country

-    Sellers (Link)

-    Seller Type

-    Buyers (Link)

-    Buyer Type

-    Other Parties/Types (Link)

-    Closing Activity Plans (Link)

-    Contingencies (Link)

-    Closing History

-    Direct Mail

-    Notes

<PAGE>

3.4      ASSOCIATE/EMPLOYEE RECORD FIELDS

An Associate/Employee record will contain the following fields:

-    Associate ID

-    Office ID

-    Affiliate ID

-    MLS ID

-    Social Security Number

-    Driver's License Number

-    First Name

-    Middle Name

-    Last Name

-    Street Address

-    Suite Number

-    Building/Floor

-    City

-    County

-    State

-    Zip

-    Country

-    Home Phone

-    Business Phone

-    Mobile Phone

-    Pager

-    Fax

-    Email

-    URL

-    Other Phone Numbers

-    Other Internet Addresses

-    Gender

-    Birthday

-    Start Date

-    Termination Date

-    Type

-    Status

-    E&O Insurance Expiry Date

-    Auto Insurance Expiry Date

-    RE License

-    RE License Expiry Date

-    Recruited By

-    Emergency Contact

-    Emergence Contact Phone

-    Pay Plan 1

-    Pay Plan 2

-    Pre-loads

-    Start at Pay Plan Level

-    Standard User-Definable Deductions

-    Federal Tax Rate

-    State Tax Rate

-    Other Tax Rate

<PAGE>

3.5      LEAD RECORD FIELDS

A Lead Record will contain the following fields:

-    Quick listing search/lookup.

-    Associate Lead Rotation Setup.

-    Rotation Basis (used for automatic Lead assignment): Simple Rotation,
     Associate Specialty, Associate Productivity, etc.

-    List of Associates in Rotation.

-    Lead Record.

-    Lead Date.

-    Age of Lead.

-    Lead Status: active/inactive.

-    Ad identifier: used to track the effectiveness of individual ads.

-    Source: ad, lawn sign, referral, etc.

-    Source Subcategories: specific to source selected above such as newspaper
     ad, billboard, etc.

-    Method:  walk-in, call, e-mail, etc.

-    Customer Type: unlimited user definable.

-    Lead Specialty (used for matching Associate with lead): condo/townhouse,
     luxury, etc.

-    Assigned To: Associate name.

-    Assignment History: from/to, reasons, dates, etc.

-    Lead Priority: high, medium, low.

-    Lead Notes: picklist of standard items.

-    Status:  to show, shown, canceled.

-    Follow-up reminder system.

-    Feedback/Notes: picklist.

-    Associate memos.

-    Auto-dialing of numbers.

<PAGE>

3.6      TRANSACTION AND ASSOCIATE ACCOUNTING RECORD FIELDS

Transaction and Associate Accounting will maintain the following records and
fields:

SETUP

-    Number Generation Defaults: Listing, Closing, Check

-    Default COA Numbers:

-    Gross Commission Receipt

-    Co-Broker Disbursement

-    Associate Commission

-    Associate Bonus

-    Associate Credit

-    Referral Fee Paid

-    Referral Fee Received

-    Third-Party AP Cash/Bank Account

-    GBJ Export Format: Quick Books, Peachtree, Great Plains Dynamics

-    COA Setup:

          -    Type: Income, Expense, Payable, Receivable

          -    Account Number

          -    Description

-    Import COA

VENDOR INVOICES/ASSOCIATE BILLING/ASSOCIATE INVOICING

-    Vendor Name/ID

-    Invoice Number

-    Invoice Date

-    Amount

-    COA No. (Payable)

-    Comment

-    Associate Billing Tag Lists

-    Associate Name

-    Billing Date

-    Amount/Debit

-    COA No. (Receivable)

-    Comment

GENERAL BUSINESS ACCOUNTING FIELDS

-    GBJ Entry Type: Standard, Standard (Allocated), Regular Pay, Bonus Pay,
     Employee Credit

-    ATR Number

-    Office ID

-    Date

-    COA No.

-    Amount

-    Check Number

-    Payee/Payor

-    Comment

ACCOUNTING PROGRAM INTERFACE

-    Auto-Synchronize

-    By Date Range

-    By Manual Selection

-    Calculate Adjustment Amounts (deltas for unsupported accounting programs)

<PAGE>

LEDGER FUNCTIONS

-    Ledger Reports: Monthly Totals, Journal Entries by Account, Check Register,
     Cashflow

-    Date Range

-    Office Selection

-    Account Selection

-    User-Definable Cashflow Subtotals

-    Ledger Balance

ACCOUNT LEDGER

-    ATR No.

-    Address

-    Buyers

-    Sellers

-    Account No.

-    Account Type

-    Maturity Date

-    Interest Rate

-    Receipt Date

-    Processed Date

-    Check Number

-    Receipt Amount

-    Disbursement Amount

-    Running Balance

-    Payee/Payor

-    Comment

ESCROW/TRUST TRACKING

-    Trust Bank Setup:  Status, Account Numbers, Balance Offsets

-    Trust/Escrow Displays: Summary of Closings in Trust, Trust Account Journal,
     Trust Account Ledger.

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