Document:

INTERVEST MORTGAGE CORPORATION
                                ESCROW AGREEMENT

     THIS  ESCROW AGREEMENT made as of this ___ day of ____________ 2005, by and
among  Intervest Mortgage Corporation, a New York corporation with its principal
offices  at  One  Rockefeller  Plaza,  Suite  400, New York, New York 10020-2002
("Corporation");  Sage,  Rutty  &  Co.,  Inc.,  a  New York corporation with its
principal  offices  at  1621  Jefferson  Road,  Rochester,  New  York  14623
("Underwriter");  and  Canandaigua  National  Bank and Trust Company, a national
banking  organization  with  its  principal  offices  at  72  South Main Street,
Canandaigua,  New  York  14424  ("Escrow  Agent").

                                R E C I T A L S:

     WHEREAS, the Corporation has filed a Form S-11 Registration Statement under
the  Securities  Act  of  1933  with  the  Securities  and  Exchange  Commission
("Registration  Statement")  covering  a  proposed  offering  of  a  minimum  of
$10,000,000  and maximum of $12,000,000 aggregate principal amount of its Series
__/__/05  Subordinated  Debentures  ("Debentures");  and

     WHEREAS,  the  Underwriter  intends  to  sell  the  Debentures  as  the
Corporation's  agent  on  a  best  efforts  basis;  and

     WHEREAS,  under  the  terms of the offering, subscription funds received on
the  sale  of  Debentures  will  be deposited in an escrow account until certain
terms  and  conditions  have  been  met;  and

     WHEREAS,  the  Corporation  desires  that the subscription funds be held in
escrow  by  the  Escrow  Agent  on  the  terms  and conditions set forth herein.

     NOW,  THEREFORE, in consideration of the mutual covenants contained herein,
the  parties  agree  as  follows:

     1.     Establishment and Custody of Escrow Fund.
            -----------------------------------------

          (a)     On or prior to the date of the commencement of the offering of
the  Debentures,  the parties shall establish an interest-bearing escrow account
with  the Escrow Agent.  The Corporation will notify the Escrow Agent in writing
of  the  effective date of the Registration Statement.  The escrow account shall
be  entitled  "Canandaigua  National  Bank  & Trust Company, as Escrow Agent for
Intervest  Mortgage  Corporation."  The  Corporation  shall,  prior  to  the
establishment  of such account, furnish to the Escrow Agent a completed IRS Form
W-9.

          (b)     On  the next Business Day following receipt by the Corporation
or  the  Underwriter  from  an  investor  desiring  to  purchase  Debentures
("Subscriber(s)") or from any participating selected dealer, of any subscription
documents  and payment of the subscription price (in the minimum of $10,000) for
Debentures  to  be  purchased, it will promptly transmit to the Escrow Agent the
following:

               (i)     Checks,  bank  drafts  or  money orders payable to "CNB -
Escrow Intervest"  or wire transfers to the escrow account (such sums as held by
Escrow  Agent  in collected funds, as increased or decreased by any investments,
reinvestments  or distributions made in respect thereof and any interest thereon
as  held  from  time  to  time by the Escrow Agent pursuant to the terms of this
Escrow  Agreement,  being  hereafter  collectively  referred  to  as the "Escrow
Fund").  Such  funds  shall  be delivered to Canandaigua National Bank and Trust
Company,  1150  Pittsford-Victor  Road,  Pittsford,  New  York 14534, Attention:
Sharon Greisberger, Vice President, by 12:00 noon on the next Business Day after
receipt,  for  deposit  in  accordance  with  Section  2;  and

               (ii)     With  each  deposit  to  the  Escrow  Fund,  a statement
containing  the  name, address and tax identification number of each Subscriber.

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          (c)     Checks  or  other  forms  of  payment  not made payable to the
Escrow  Agent  shall  be  returned  by  the  Escrow  Agent  to the purchaser who
submitted  the  check.

          (d)     For  purposes  of this Escrow Agreement, a "Business Day" is a
day  upon  which  the  Escrow  Agent  is  open  for  the  conduct  of  business.

          (e)     The  Escrow  Agent will acknowledge receipt of the Escrow Fund
and  will  hold  the  Escrow  Funds  subject to the terms and conditions of this
Escrow  Agreement.

          (f)     The  Escrow  Agent shall notify the Corporation when the total
amount  of  subscription  funds  in the Escrow Fund, less the amount of any such
checks  returned  for  insufficient  funds,  equals  at  least  $10,000,000 (the
"Minimum Funds").  No investment profits or losses and no interest earned on any
investment  of  the  Escrow  Fund  shall  be  considered  for  purposes  of this
calculation.

          (g)     During  the  term  of  this  Escrow Agreement, the Corporation
understands  that  it  is  not entitled to any funds received into escrow and no
amounts  deposited  shall  become  the  property of the Corporation or any other
entity,  or  be  subject  to  the  debts of the Corporation or any other entity.

     2.     Investment  of Escrow Fund.  Moneys held in the Escrow Fund shall be
            ---------------------------
invested  and  reinvested by the Escrow Agent in its trust money market account.
Moneys  held  in  the  Escrow  Fund  will,  in  any  event,  be invested only in
investments  permissible  under Rule 15c2-4 under the Securities Exchange Act of
1934.

     3.     Duties  of  Escrow  Agent.  Acceptance  by  the  Escrow Agent of its
            --------------------------
duties  under  this  Escrow  Agreement  is  subject  to  the following terms and
conditions,  which  all  parties to this Escrow Agreement agree shall govern and
control  with  respect  to the rights, duties, liabilities and immunities of the
Escrow  Agent.

          (a)     The  duties  and responsibilities of the Escrow Agent shall be
limited  to  those  expressly  set forth in this Escrow Agreement and the Escrow
Agent  shall not be subject to, nor obligated to recognize, any other agreements
between  the  Corporation,  Underwriter  and  any  Subscriber.

          (b)     The  duties  of  the Escrow Agent are only such as are  herein
specifically  provided  and  such duties are purely ministerial in nature.   The
Escrow Agent's primary duty shall be to keep custody of and safeguard the Escrow
Fund  during  the period of the escrow, to invest monies held in the Escrow Fund
in  accordance  with  Section 2 hereof and to make disbursements from the Escrow
Fund  in  accordance  with  Section  4  hereof.

          (c)     The  Escrow  Agent shall be under no obligations in respect of
the  Escrow  Fund  other  than  to  faithfully  follow  the  instructions herein
contained  or  delivered  to  the  Escrow  Agent  in accordance with this Escrow
Agreement.  The  Escrow  Agent  may  rely  and  act  upon  any  written  notice,
instruction,  direction,  request,  waiver,  consent,  receipt or other paper or
document  which  it in good faith believes to be genuine and what it purports to
be  and  the  Escrow  Agent shall be subject to no liability with respect to the
form,  execution  or  validity thereof.  If, in the opinion of the Escrow Agent,
the  instructions  it  receives are ambiguous, uncertain or in conflict with any
previous  instructions  or  this  Escrow  Agreement,  then  the  Escrow Agent is
authorized to hold and preserve intact the Escrow Fund pending the settlement of
any  such  controversy  by  final  adjudication  of  a court or courts of proper
jurisdiction.

          (d)     The Escrow Agent shall not be liable for any error of judgment
or  for  any  act done or step taken or omitted by it, in good faith, or for any
mistake of fact or law, or for anything which it may in good faith do or refrain
from  doing  in  connection herewith, unless caused by its willful misconduct or
gross  negligence.  The  Corporation  shall  indemnify and hold the Escrow Agent
harmless  from  and against any and all claims, losses, damages, liabilities and
expenses,  including  reasonable  attorneys' fees, which may be imposed upon the
Escrow  Agent  or incurred by the Escrow Agent in connection with its acceptance
of  the  appointment  as Escrow Agent hereunder or the performance of its duties
hereunder,  unless  the  Escrow  Agent  is  determined  to  have  committed  an
intentional  wrongful  act or to have been grossly negligent with respect to its
duties  under  this  Escrow  Agreement.

                                        2
<PAGE>
          (e)     The  Escrow  Agent  shall  return  to the Corporation any sums
delivered  to  the  Escrow Agent pursuant to this Escrow Agreement for which the
Escrow Agent has not received release instructions pursuant to Section 4 hereof,
and  as  to  which  four  years  have  passed  since  delivery.

          (f)     The  Escrow  Agent  may  consult with, and obtain advice from,
legal  counsel (which may not be counsel to the Corporation) in the event of any
dispute  or  questions as to the construction of any of the provisions hereof or
its duties hereunder, and it shall incur no liability in acting in good faith in
accordance with the written opinion and instructions of such counsel.   The fees
for  consultation  with  such  counsel  shall  be  paid  by  the  Corporation.

          (g)     Reference  in  this  Escrow  Agreement  to  the  Registration
Statement  is for identification purposes only, and its terms and conditions are
not  thereby  incorporated  herein.

     4.     Distribution  and  Release  of  Funds.
            --------------------------------------

          (a)     For  purposes of this Escrow Agreement,  the term "Termination
Date"  shall  mean  the  earlier  of:

               (i)     __________,  2005,  or  such  later  date  set forth in a
written  notice  purportedly  executed  by  the Corporation and delivered to the
Escrow  Agent  at  least  five  (5)  Business  Days  prior  to _________,  2005.

               (ii)     The  date, if any, upon which the Escrow Agent  receives
a  written  notice  purportedly  executed  by  the  Corporation stating that the
offering has been terminated, or such later date set forth in such notice as the
effective  date  of  such  termination;  or

               (iii)     Any date specified by the Corporation in writing, after
the  date the Escrow Agent has confirmed that it has received in the Escrow Fund
at  least  the  Minimum  Funds  in  good,  collected  funds.

          (b)     On the Termination Date, the Escrow Agent shall certify to the
Corporation  in  writing the total amount of collected funds in the Escrow Fund.

          (c)     The  Escrow  Agent shall return the funds deposited with it to
the Subscribers if, on the Termination Date, the Escrow Fund does not consist of
collected  funds  totaling  at  least the Minimum Funds.  The Escrow Agent shall
have  fully  discharged  this  obligation to return Subscribers' funds if it has
mailed  to  each  Subscriber, at the address furnished to it by the Corporation,
the  Underwriter or any selected dealer, by registered or certified mail, return
receipt  requested,  a bank check made payable to each Subscriber for the amount
originally deposited by that Subscriber, plus the Subscriber's pro rata share of
net  interest (defined below) earned without regard to the date the Subscriber's
funds  were  deposited.  For  purposes  of this Escrow Agreement, "net interest"
shall  mean the interest earned on the Escrow Fund, less any fees or expenses of
the  Escrow  Agent  paid  from  the  Escrow  Fund  pursuant  to  Section  5.

          (d)     At such time as (i) the total amount of collected funds in the
Escrow  Fund  equals  at  least the Minimum Funds, and (ii) the Escrow Agent has
received,  on  or  before the Termination Date, written instructions executed by
the  Underwriter  and  the  Corporation,  the  Escrow Agent shall distribute the
entire  Escrow Fund, less commissions, fees and expense reimbursement due to the
Underwriter  and  any  selected  dealers,  pursuant  to  such instructions.  The
commissions,  fees and expense reimbursement due to the Underwriter and selected
broker-dealers  shall  be  set forth in the written instructions, and the Escrow
Agent  shall  distribute the  commissions, fees and expense reimbursement due to
the  Underwriter  and  selected dealers directly to the Underwriter.  Subject to
the  foregoing,  distributions  may be made to third parties at the direction of
the  Corporation.  Net  interest  earned on the Escrow Fund shall be paid to the
Corporation.

          (e)     If the Corporation rejects a subscription for which the Escrow
Agent  has  already  collected  funds,  the Escrow Agent  shall promptly issue a
refund  check  to  the  rejected  Subscriber.  Otherwise, the Escrow Agent shall
promptly remit the rejected  Subscriber's check directly to the Subscriber.  Any
check  returned  unpaid

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<PAGE>
to  the Escrow Agent will be returned to the Underwriter or selected dealer that
submitted  the check.  Any check or other form of payment received by the Escrow
Agent  not  payable  to  "CNB  -  Escrow  Intervest"  shall  be  returned to the
Subscriber  by  the  Escrow  Agent.

          (f)     For  purposes  hereof,  "collected funds" shall mean all funds
received  by the Escrow Agent which have cleared normal banking channels and are
in the form of cash.  Furthermore, a check which is not (i) a certified check or
(ii)  a  bank draft or a cashiers check drawn on a bank reasonably acceptable to
the  Escrow  Agent,  shall  constitute "collected funds" only if it has not been
returned  for insufficient funds within ten (10) Business Days after its receipt
by  the Escrow Agent.  No investment profits or losses and no interest earned on
any investments of the Escrow Fund shall be considered for purposes of the above
calculation.

          (g)     It  shall  be  a  condition  to  the  return  of  funds to any
subscriber  hereunder  that  such  subscriber shall have delivered to the Escrow
Agent a completed IRS Form W-9.  The Corporation shall include in the Prospectus
which  is part of the Registration Statement and/or in the subscription forms to
be  executed  by subscribers, notice of the requirement for delivery of such IRS
Form  W-9 as a condition to the return of funds deposited in the Escrow Account.

          (h)     This  Escrow  Agreement  shall  terminate  on  the  final
distribution of the Escrow Fund, at which time the Escrow Agent shall be forever
and  irrevocably released and discharged from any and all further responsibility
or  liability  with  respect  to  the  Escrow  Fund.

     5.     Compensation.  The  Corporation agrees to pay the Escrow Agent a fee
            -------------
of  $500  as  compensation  for its services in connection with establishing the
Escrow  Fund,  payable at the time this Escrow Agreement is executed, whether or
not  any  Debentures are sold.  In addition, the Corporation shall pay an annual
maintenance fee of $100, prorated for the number of months the Escrow Account is
open,  payable  whether  or  not any Debentures are sold.  The Corporation shall
pay,  in  addition  to  the  foregoing  fees,  the  following  charges:

          $1,500.00     Handling  and  processing  fees.
            $  7.50     Per  check  disbursed.
           $  10.00     Per  prorated  net  interest  computation  if  funds are
                        returned to investors.
           $  10.00     Per  Form  1099  required  to  be  transmitted  by  the
                        Escrow Agent.
           $  25.00     Per  check  returned  for  insufficient  funds.
           $  15.00     Per  wire  transfer

Except  for the set-up fee due upon execution of this Escrow Agreement, the fees
and  charges  shall be paid by the Corporation on the date(s) the Escrow Fund is
distributed  pursuant  to  Section  4.  The Escrow Agent shall have the right to
cause any fees due hereunder to be paid out of the interest earned on the Escrow
Account.

     6.     Termination.  This  Escrow  Agreement  shall terminate no later than
            ------------
the  Termination  Date,  or  on such earlier date as the Escrow Agent shall have
paid  out  a total of at least $10,000,000 in collected funds in accordance with
the  provisions  of  this  Escrow  Agreement.

     7.     Resignation  and  Removal  of Escrow Agent.  The Escrow Agent may at
            -------------------------------------------
any  time resign and be discharged of the duties and obligations created by this
Escrow  Agreement  by  giving  at  least sixty  (60) days' written notice to the
Corporation  and  the  Underwriter;  the Escrow Agent may be removed at any time
upon  sixty  (60)  days'  notice  by  an  instrument  purportedly  signed  by an
authorized  person of the Corporation and the Underwriter.  Any successor Escrow
Agent  shall  be  appointed and approved by the Corporation and the Underwriter.
Any  such  successor  Escrow  Agent  shall deliver to the  former Escrow Agent a
written  instrument,  acknowledged  by  the  Corporation  and  the  Underwriter,
accepting such appointment hereunder and thereupon it shall take delivery of the
Escrow  Fund  to hold and distribute in accordance with the terms hereof.  If no
successor  Escrow Agent shall have been appointed within thirty  (30) days after
the  Corporation  and  the  Underwriter  are  notified  of  the  Escrow  Agent's
resignation, the Escrow Agent shall return the Escrow Fund to the Subscribers in
accordance  with  the procedure set forth in Section 4(c).  Upon the delivery of
the  Escrow  Fund  in  accordance with this Section 7, the Escrow Agent shall be
discharged  from  any  further  duties  hereunder.

                                        4
<PAGE>
     8.     Binding  Effect.  This  Escrow  Agreement  shall be binding upon and
            ----------------
inure  to  the  benefit  of  the  parties,  their  successors  and  assigns.

     9.     Headings.  The  headings  contained  in  this  Escrow  Agreement are
            ---------
intended  for  convenience  and shall not in any way determine the rights of the
parties  to  this  Escrow  Agreement.

     10.     Waiver.  Waiver of any terms or conditions of this Escrow Agreement
             -------
by  any  party  shall not be construed as (a) a waiver of a subsequent breach or
failure  of  the  same  term  or condition, or (b) a waiver of any other term or
condition  of  this  Escrow  Agreement.

     11.     Counterparts.  This Escrow Agreement may be executed in one or more
             -------------
counterparts,  each  of  which  shall be deemed an original, and it shall not be
necessary  in  making  proof  of this Escrow Agreement to produce or account for
more  than  one  such  counterpart.

     12.     Modification.  This  Escrow  Agreement  constitutes  the  entire
             -------------
agreement  between the parties as to the escrow of Subscribers' funds, and shall
not  be  modified  except in writing signed and acknowledged by all the parties.

     13.     Notices.  All  notices  and  communications  hereunder  shall be in
             --------
writing and shall be deemed to be duly given on the date delivered by the United
States  Mail,  registered  or  certified mail, return receipt requested, postage
prepaid  to  the  address  of  the  Corporation  and  Underwriter as first above
written,  and  to the Escrow Agent at 1150 Pittsford-Victor Road, Pittsford, New
York  14534,  Attention:  Sharon Greisberger, Vice President, provided, however,
that  notices  may  be  given  by  telex,  cable,  telecopier,  courier service,
telephone,  personal  delivery  or  otherwise,  effective  the  date  of  such
communication,  provided  that notices given by such means of communications are
confirmed  by  mail  as aforesaid, postmarked within one business day after such
other  form  of  communication.

     14.     Governing  Law.  This  Escrow  Agreement  shall  be  construed  and
             ---------------
enforced  in  accordance  with  the  laws  of the State of New York. The parties
consent to the personal jurisdiction of all courts of the State of New York, and
agree  that  such  jurisdiction  shall  be  exclusive.

     IN  WITNESS  WHEREOF,  the  parties have executed and delivered this Escrow
Agreement  as  of  the  date  and  year  first  above  written.

CORPORATION:               INTERVEST MORTGAGE CORPORATION

                           By:     _____________________________
                           Its:    _____________________________

ESCROW AGENT:              CANANDAIGUA NATIONAL BANK AND TRUST COMPANY

                           By:     _____________________________
                           Its:    _____________________________

UNDERWRITER:               SAGE, RUTTY & CO., INC.

                           By:     _____________________________
                           Its:    _____________________________

                                        5EXHIBIT 4.1
                                                                     -----------

                      FORM OF CONVERTIBLE PROMISSORY NOTES
                      ------------------------------------

Houston, Texas

FOR VALUE RECEIVED, ATSI, Inc., a Nevada Corporation (Maker), promises to pay to
RECAP MARKETING & CONSULTING LLP (Holder) the principal sum of [amount] with
--------------------------------
interest from date at the rate of twelve percent (12%), per year, until applied
to warrants converted under a separate agreement. Holder or Maker has the right
to convert the Principal at the price per share (rate) identified in Exhibit 4.1
of the Consulting Agreement ("Conversion"). Such Conversion shall occur only
after approval of a reverse split, and authorization by the SEC of the Maker,
and approval by the Board of Directors, which shall not be unreasonably
withheld.

Principal is payable in lawful money, or stock if converted, of the United
States of America at 12000 Westheimer, Suite 340, Houston, Texas 77077, or at
such place as may later be designated by written notice from the Holder to the
Maker hereof, on the date and in the manner following:

All  principal  and accrued interest is due on or before twelve (12) months from
the  date  the  principal  amount  is  received.

This  Note is not secured, other than by conversion of warrants to common stock.

Both parties understand that the amount or value above does not exceed the
maximum interest allowed by law, under the statutes of the state of Texas, and
acknowledge that the terms are reasonable given the nature of the loan.

                                ATSI, Inc.
                                a Nevada Corporation
                                By:  /s/  Arthur  L.  Smith
                                     ----------------------
                                Arthur  L.  Smith
                                Its President and Chief Executive Officer

Amount:  $10,000     Received  on:  FEBRUARY  2,  2005
         -------                    ------------------
Amount:  $ 4,000     Received  on:  FEBRUARY  3,  2005
         --------                   -------------------
Amount:  $10,000     Received  on:  FEBRUARY  17,  2005
         -------                    -------------------
Amount:  $10,000     Received  on:  MARCH  22,  2005
         -------                    ----------------
Amount:  $10,000     Received  on:  APRIL  6,  2005
         -------                    ---------------

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