Document:

EMPLOYMENT AGREEMENT, DATED 1-24-2001

Exhibit 10.13 

EMPLOYMENT AGREEMENT

        THIS AGREEMENT is made as of January 24, 2001 by and between CHART INDUSTRIES, INC., a Delaware corporation ("Company"), and JAMES R. SADOWSKI
("Executive").

WITNESSETH:

        WHEREAS, Executive has been an Officer of the Company and has valuable knowledge and experience pertaining to the business of the Company, and the parties
desire to arrange for the continuation of his services to the Company;

        NOW, THEREFORE, for good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, it is hereby agreed as follows:

        1.    Previous Employment Agreement. This Agreement supersedes and replaces that certain Employment Agreement, dated
November 30, 1995, between the Company and Executive.

        2.    Employment. Commencing as of the date hereof and continuing through January 10, 2006 (the "Employment Period"), the
Company hereby employs Executive as President and Chief Operating Officer of the Company with responsibility for the performance of such executive services and duties as shall be reasonably assigned to and requested of him by, and subject to the
direction and supervision of, the Chief Executive Officer and the Board of Directors of the Company; provided, however, that such services and duties also shall be reasonably consistent with the services and duties performed by Executive for the
Company immediately prior to the Employment Period. Executive hereby accepts such employment and agrees that he will devote his full time and undivided efforts to the business and affairs of the Company and serve the Company in its business and
perform his duties to the best of his ability.

        3.    (a)    Salary. As compensation for his services during the Employment Period, Executive shall receive a
2000 base salary at the rate of Two Hundred Sixty-Three Thousand Dollars ($263,000) per year (the "Base Salary Amount"). Executive's salary shall be reviewed on an annual basis by the Board of Directors of the Company or any duly
authorized Committee thereof. Executive's salary shall be subject to being adjusted based upon such annual review, although any such adjustment shall be at the sole discretion of the Board of Directors or any duly authorized Committee thereof.
Notwithstanding the foregoing, in no event shall Executive's salary be adjusted below the Base Salary Amount. Such salary shall be payable in bi-weekly installments or otherwise in accordance with the normal policies of the Company for payment of
corporate officers. In the event Executive's employment with the Company is terminated by the Company with "good cause," by Executive on a voluntary basis, or by reason of the death or disability of Executive, prior to expiration of the
Employment Period, such salary shall only be payable for the remainder of the month in which such termination occurs and thereafter such salary shall end and cease to be payable, subject, however, to the requirement that Executive shall be entitled
to receive any benefits provided for in Section 3(b) hereof which have accrued up to the date on which such termination occurs. 

        (b)    Benefits. During the Employment Period Executive shall be entitled to participate in any employee benefits plans which are
maintained or established by the Company for its corporate officers, subject, however, to all of the terms and conditions thereof, including any eligibility requirements therefor, including but not limited to: (i) the Management Incentive
Compensation Plan or any other successor plan (the "Incentive Plan"); (ii) the Company's Key Employees Stock Option Plan or any successor plan (the "Option Plan"); (iii) medical, dental and vision insurance coverage; (iv) life
insurance coverage; (v) 401(k)
Retirement Plan (which includes a savings plan component and a profit-sharing pension component); (vi) four (4) weeks of paid vacation to be taken at such time or times as are chosen by Executive; and (vii) the use of a leased automobile during
Executive's employment comparable to his presently-leased automobile. On an annual basis, the Board of Directors of the Company or any duly authorized Committee thereof shall review Executive's level of participation in the Company's Option Plan
and, based upon such review, may in its sole discretion grant Executive additional options to purchase Common Stock of the Company.

        (c)    Severance. In the event that prior to expiration of the Employment Period (i) Executive is discharged without "good
cause," (ii) Executive is assigned to perform services and duties inconsistent with the provisions of Section 2 hereof and Executive terminates employment with the Company as a result thereof, or (iii) there are "other material
changes" relating to Executive's employment (each of the events set forth in (i), (ii) and (iii) above referred to as a "Triggering Event") and Executive terminates employment with the Company as a result thereof, the Company
shall pay the following amounts to the Executive within thirty (30) days after the Triggering Event, subject to all applicable withholding taxes: (i) an amount equal to one year's salary (at the rate prevailing immediately prior to the Triggering
Event) (the "Salary Payment") and (ii) an amount equal to the bonus payment Executive received under the Company's Incentive Plan for the immediately preceding year (the "Bonus Payment"). Upon payment of the Salary Payment such
salary shall end and cease to be payable. In addition, for a one-year period following the Triggering Event, Executive shall be eligible to participate in the employee benefits plans referred to in Subsections 3(b) (iii) and (iv) as if he were still
employed by the Company, to the extent and at the level of Executive's participation thereunder immediately prior to the Triggering Event. All Company contributions or payments under any
such employee benefits plans shall be subject to Executive's fulfillment of his contribution requirements thereunder, and Company provision of the benefits listed in Subsections 3(b) (iii) and (iv) shall cease if Executive obtains such coverage, if
any, from another employer during such one-year period after termination of Executive's employment with the Company. If there is a "change in control" of the Company and Executive terminates employment with the Company as a result
thereof, Executive will be entitled to such payments and benefits as he would have been entitled upon the occurrence of a Triggering Event; provided, however, that in lieu of the Salary Payment, Executive shall receive an amount equal to twice the
Salary Payment, and in lieu of the Bonus Payment, Executive shall receive an amount equal to twice the Bonus Payment.

        (d)    The term "good cause" shall mean a determination by the Board of Directors (without the participation of the Executive) of
the Company pursuant to the proper exercise of business judgment, that any one of the following events has occurred:

	                  	i)	    	
the Executive has been indicted by a state or federal grand jury of committing a felony;

				     
		ii)		
the Board receives proof satisfactory to it of the commission by Executive of theft or embezzlement from the Company, or any other crime against the Company;

				    
		iii)		
Executive, for himself or any other person, firm, corporation or other entity, (x) solicits business from customers of the Company, (y) diverts or attempts to divert any business from the Company,
or otherwise interferes with the business or employment relationship between the Company or any customer, employee or sales representative thereof, or (z) discloses or furnishes to any competitor or any person, firm, corporation or other entity, or
uses on his own behalf, any confidential or secret information or data of or relating to the Company; or

				    
		iv)		Executive's failure, refusal or inability to perform his services and duties to the Company as set forth in Section 1 of this Agreement, any act of gross negligence, corporate 

 waste, disloyalty, or unfaithfulness to the Company which adversely affects the business of the Company, any material breach of this Agreement, or any other act or
course of conduct which could reasonably be expected to have an adverse affect on the business of the Company such as, by way of example only, intentionally causing the Company to violate federal, state or local environmental, labor, antitrust, or
other similar laws, or sexual or other illegal harassment of employees.
        (e)    The term "change in control" shall mean the following:

	                  	i)	    	
the purchase of at least 50.1% of the Company's common stock (which includes any securities convertible into such common stock) pursuant to a tender offer or exchange (other than a tender offer or exchange by
the Company);

	 	 	 	 
	 	ii)	 	the date of approval by stockholders of the Company of an agreement providing for any consolidation or merger of the Company in which the Company will not be the continuing or surviving
corporation or pursuant to which shares of capital stock, of any class or any securities convertible into such capital stock, of the Company would be converted into cash, securities, or other property, other than a merger of the Company in which the
holders of common stock of all classes of the Company immediately prior to the merger would have the same proportion of ownership of common stock of the surviving corporation immediately after the merger;
	 	 	 	 
	 	iii)	 	the date of the approval by stockholders of the Company of any sale, lease, exchange or other transfer (in one transaction or a series of related transactions) of all or substantially all the
assets of the Company; or
	 	 	 	 
	 	iv)	 	the adoption of any plan or proposal for the liquidation (but not a partial liquidation) or dissolution of the Company.
	 	 	 	 

        (f)    The term "other material changes" shall mean:

	                  	i)  	    	with respect to the Incentive Plan for calendar year 2001 and beyond:
	 	 	 	 	 
	 	 	 	A)  	any change in the manner in which the annual bonus under such Plan is determined such that (a) the potential aggregate total bonus payments to all corporate officers participating in
the Plan would be less than 3 percent of Company's net income or (b) a potential bonus payment to the Executive under the Plan would be less than 100 percent of the Executive's Base Salary Amount;
or

	 	 	 	 	 	 
	 	      	 	 	B)  	in any year, the Executive's payment under such Plan is less than 50 percent of the total aggregate amount paid to all corporate officers participating in the Plan, not including the
Chief Executive Officer (ie, any payment to the Chief Executive Officer under the Plan will not be included in the aggregate total amount paid to corporate officers for purposes of this provision); or
	 	 	 	 	 	 
	 	 	ii) 	 	relocation of Executive's principal executive office beyond 25 miles from Executive's present residence in Chagrin Falls, Ohio without Executive's consent. 

        4.    Expenses.    The Company shall reimburse Executive for reasonable expenses incurred by him on behalf of the
Company in the performance of his duties during the Employment Period. Executive shall furnish the Company with such documentation as is requested by the Company in order for it to comply with the Internal Revenue Code and regulations thereunder in
connection with the proper deduction of such expenses.

        5.    Legal Fees.    In the event Executive is required to enforce any of his rights under this Agreement after a
"change in control" of the Company, then the Company or any successor thereof shall reimburse Executive for all reasonable legal fees and expenses incurred by him to enforce such rights.

        6.    Termination.    This Agreement shall terminate and, except for the obligations of the Company set forth in
Sections 3(a) and 3(c) hereof, which shall survive such termination, all rights and obligations of the Company and Executive hereunder shall be completely void upon the earliest to occur of the following:

	                  	(a)  	    	expiration of the Employment Period;
				
		(b)		voluntary termination by Executive of his employment with the Company, a right reserved to Executive hereunder; 

	 	 	 	 
	 	(c)  	 	discharge of Executive with or without "good cause";
	 	 	 	 
	 	(d)	 	the death of Executive; and
	 	 	 	 
	 	(e)	 	at the election of the Company, the disability of Executive, which, for purposes hereof, shall mean the inability of Executive for a continuous period of six (6) months to perform
the essential functions of his position hereunder on an active full time basis, with or without reasonable accommodations, by reason of disability or impairment of health. A certificate from a physician acceptable to both the Company and Executive
to the effect that Executive is or has been disabled and incapable of performing the essential functions of his position with or without reasonable accommodations for the Company as previously performed shall be conclusive of the fact that Executive
is incapable of performing such reasonable services and is, or has been disabled for the purposes of this Agreement.
	 	 	 	 

        7.    Severability. In the event that any provision or term of this Agreement is found to be void or unenforceable to any extent for
any reason, it is the agreed upon intent of the parties hereto that all remaining provisions or terms of the Agreement shall remain in full force and effect to the maximum extent permitted and that the Agreement shall be enforceable as if such void
or unenforceable provision or term has never been a part hereof.

        8.    Assignment. This Agreement shall inure to the benefit of, and shall be binding upon, the Company, its successors and assigns.
Executive shall not assign this Agreement without the written consent of the Company, but this Agreement shall be binding upon Executive and his heirs, estate and personal representatives.

        9.    Notice. Any notice required to be given under the terms of this Agreement shall be in writing, and mailed to the recipient's
last known address or delivered in person. If sent by registered or certified mail, such notice shall be effective when mailed; otherwise, it shall be effective upon delivery.

	                       	(i)         	If to the Company, to:
	 	 	    
	 	 	Chart Industries, Inc.
	 	 	5885 Landerbrook Drive
	 	 	Suite 150
	 	 	Cleveland, Ohio 44124
	 	 	Attention: Arthur S. Holmes, Chairman
	 	 	     
	 	 	With a copy to:
	 	 	   
	 	 	Calfee, Halter & Griswold LLP
	 	 	1400 McDonald Investment Center
	 	 	800 Superior Avenue
	 	 	Cleveland, Ohio 44114
	 	 	Attention: Thomas F. McKee
	 	 	 
	 	(ii)	If to Executive, to:
	 	 	 
	 	 	James R. Sadowski
	 	 	65 Solether Lane
	 	 	Chagrin Falls, Ohio 44022
	 	 	 

        10.    Entire Agreement; Amendments; Waivers. This Agreement contains the entire agreement between the parties with respect to the
subject matter hereof. If may not be changed orally, but only by an agreement, in writing, signed by Executive and an officer of the Company specifically designated by the Board of Directors of the Company to execute such amendment. The terms or
covenants of this Agreement may be waived only by a written instrument specifically referring to this Agreement, executed by the party waiving compliance. The failure of the Company at any time or from time to time to require performance of any of
Executive's obligations under this Agreement shall in no manner affect the Company's right to enforce any provisions of this Agreement at a subsequent time; and the waiver by the Company of any right arising out of any breach shall not be construed
as a waiver of any right arising out of any subsequent breach.

        11.    Governing Law. This Agreement shall be governed by and construed in accordance with the laws of the State of Ohio.

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

	 	 	CHART INDUSTRIES, INC.
	 	 	 	 
	/s/ James R. Sadowski  	 	By: /s/ Arthur S. Holmes 
	James R. Sadowski	 	 	Arthur S. Holmes,
	("Executive")	 	 	Chairman and Chief Executive OfficerEXHIBIT 10.14

                                 LOAN AGREEMENT

         This Loan Agreement  ("Agreement") is entered into by and between FIRST
COLONY MERCHANT and TOBIAN TRADING LIMITED  (collectively  "Lender") and CAN CAL
RESOURCES LIMITED ("Borrower").

                                    RECITALS

         WHEREAS,  Borrower owns certain unimproved real property located in San
Bernardino, California (the "Property").

         WHEREAS, Borrower seeks financing from Lender in the original principal
amount of $300,000 for working  capital  and/or to acquire a mineral  processing
facility.

         WHEREAS,  Borrower has entered into a Mining Lease  Agreement  ("Mining
Lease") with Twin Mountain Rock Venture, a California general partnership ("Twin
Mountain"), for the purpose of permitting Twin Mountain to mine certain minerals
from the Property for certain consideration.

         NOW,  THEREFORE,  in  consideration  of the mutual  obligations  of the
parties herein, and other good and valuable consideration,  the parties agree as
follows:

1.       Terms of  Payment.  Subject to the  following  terms and  conditions,
Lender agrees to lend Borrower  $300,000  ("principal)  with interest at 16% per
annum. Interest is payable  semi-annually on May 24 and November 24 of each
consecutive year throughout the term of this Agreement  beginning May 24, 2001
and principal plus accrued interest is all due and payable on November 24, 2005.

2.       Representation and Warranties. In order to induce Lender to enter into
this  Agreement,   the  Borrower,   for  itself  and  for  its  heirs,  personal
representatives,  successors, and assigns, hereby acknowledges,  represents, and
warrants to Lender as follows:

         (a) This Agreement  when executed by the Borrower shall  constitute the
legal, valid, and binding  obligations of such party,  enforceable in accordance
with their respective terms.

         (b) There is no  litigation,  at law or in equity,  nor any  proceeding
before any federal, state, or other governmental or administrative agency or any
arbitration pending or, to the knowledge of the Borrower, threatened against the
Borrower nor any other litigation or proceeding  pending or, to the knowledge of
the Borrower, threatened affecting any collateral in favor of Lender.

         (c) All documents, reports,  certificates,  and statements furnished to
Lender  by  or on  behalf  of  Borrower  in  connection  with  the  transactions
contemplated hereby are true, correct,  and complete;  do not contain any untrue
statement  of  material  fact;  and do not omit any fact  necessary  to make the
information contained therein not misleading.

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         (d) All taxes,  assessments,  levies, license fees, permit fees and all
other charges heretofore  levied,  assessed,  confirmed,  or imposed upon, or in
respect of, or which might become a lien upon, any collateral in favor of Lender
under the Loan Agreement or its exhibits have been paid in full unless otherwise
agreed to by Lender.

         (e) The  Borrower  consents to allow  Lender to  communicate  with Twin
Mountain  regarding the Mining Lease and consents to allow Lender to receive the
income and profits from the Mining Lease directly from Twin  Mountain.  Borrower
agrees  that should it receive  any monies  from Twin  Mountain  pursuant to the
Mining Lease, it will  immediately  deliver such monies to Lender subject to the
rights of Owen Sequoia  Corp., a senior  lender.  All monies  received by Lender
shall be credited towards the obligation owed to Lender, first to interest, then
to principal.

         The  continued  validity  in all  respects of all  representations  and
warranties  made in this  Agreement  and all other  documents  delivered  by the
Borrower in  connection  with this  Agreement  will be a condition  precedent to
Lender obligations and agreements created by this Agreement.

3.       Prepayment.  The privilege is reserved of prepaying in full or in part
any amount of the  outstanding  principal  balance due hereunder on any interest
date.

4.        Late Payment Penalties.  While any default exists in the making of any
of the  payments,  agreements  or  conditions  of this  Agreement or the Deed of
Trust, the undersigned  recognizes that such default will result in the loss and
additional   expenses  to  the  Lender  of  this   Agreement  in  servicing  the
indebtedness evidenced hereby, handling such delinquent payments and meeting its
other financial obligations.  Therefore,  if any installment of principal and/or
interest due hereunder is not paid when due, and Lender of this  Agreement  does
not  accelerate  this  Agreement  as  provided  in  Paragraph  8  below,  then a
reasonable  late charge in an amount equal to six percent (6%) of the delinquent
payment may be charged by the Lender of this Agreement,  at its option,  for the
purpose of defraying  such losses and  expenses.  If  applicable  law requires a
lesser such charge,  however,  then the maximum charge permitted by such law may
be charged by the Lender of this Agreement for said  purposes.  The late charges
that accrue during any month shall be payable on the next monthly  payment date.
Failure to assert or collect a late  charge for any  particular  month or months
shall not waive  Lender's right to assert and collect late charges in subsequent
months.

5.       Default.  The  occurrence  of any one or more of the  following  shall
constitute an "Event of Default" under this Agreement:

         (a)  Failure of Borrower to make any payment to Lender on or before the
date on which such payment is due or failure to pay all remaining  principal and
interest and all other charges and costs due Lender.

         (b) Entry of a judgment or filing of a lien against Borrower or any its
properties,   which  remains  unpaid,  unstayed,  unbonded,   undischarged,   or
undismissed for a period longer than thirty (30) days.

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<PAGE>

         (c) Failure of Borrower to execute  and/or deliver any of the documents
provided for in this Agreement or any other documents required by Lender.

         (d) Failure of Borrower to observe or perform any covenant,  agreement,
term, or condition of this Agreement as and when provided herein.

         (e) If any  representation  or warranty made herein,  or in any report,
certificate,  financial  statement or other instrument or document  furnished in
connection with this Agreement or contemplated  hereby, shall prove to have been
materially false or misleading on the date as of which it was made.

         (f) If  Borrower  shall:  (U) apply  for or  consent  to or suffer  the
appointment of a receiver,  trustee, or liquidator for its properties; (V) admit
in  writing an  inability  to pay its debts as they  mature;  (W) make a general
assignment  for the benefit of  creditors;  (X) file a  voluntary  petition or a
petition or answer seeking  reorganization  or an arrangement  with creditors or
take advantage of any bankruptcy,  reorganization,  insolvency,  readjustment of
debt,  dissolution,  or  liquidation  statute or law,  or make or file an answer
admitting material  allegations of a petition filed against it in any proceeding
under any such law; (Y) fail to cause to be dismissed any bankruptcy proceedings
commenced  against it within sixty (60) days after  commencement of the same; or
(Z) have  entered  against  it an  order,  judgment,  or  decree of any court of
competent jurisdiction, approving a petition seeking reorganization of assets or
appointing a receiver, trustee, or liquidator for any assets.

6.        Additional  Interest.  Borrower  agrees that any  installment not paid
within fifteen days of the date that such  installment  was due shall be subject
to the late charge  discussed  in Paragraph 4 and shall bear  interest  from the
date such payment was due which shall be compounded  monthly on the first day of
each calendar month at that rate of interest equal to the rate of interest under
this Agreement, or the maximum amount allowed by law, whichever is the lesser.

7.        Additional  Consideration.  Borrower  shall  issue to  TOBIAN  TRADING
LIMITED  45,000 common  voting  shares which are fully paid and  non-assessable.
Borrower has full power to issue these shares  without  obtaining the consent or
approval of any other person or governmental authority.

8.        Application of Payments. While any default exists in the making of any
of said payments or in the  performance  or observance of any of the  covenants,
agreements or conditions of this  Agreement or the Deed of Trust,  the Lender of
this Agreement may apply payments received on any amounts due hereunder or under
the  terms of any  instrument  now or  hereafter  evidencing  or  securing  said
indebtedness as said Lender may determine and if the Lender of this Agreement so
elects,  notice of election  being  expressly  waived,  the principal  remaining
unpaid with accrued interest shall at once become due and payable.

9.        Attorneys' Fees. If amounts due under this Agreement are not paid when
due, whether at maturity or by acceleration, the undersigned promises to pay all
costs of collection,  including, but not limited to, reasonable attorneys' fees,
and all expenses  incurred in connection  with the  protection or realization of
any collateral or enforcement of any guaranty, incurred by the Lender

                                       63

<PAGE>

hereof, on account of any such  collection,  whether or not suit is filed hereon
or on any instrument granting a security interest  or on any  guaranty  related
to this Agreement.

10.       Assignment of Rights.  Borrower,  as additional  consideration for the
financing referenced above, agrees that, effective upon an Event of Default, all
right,  title and interest Borrower has regarding that certain Interim Agreement
attached hereto as Exhibit "C" will be assigned to Lender.

11.       Waiver of Rights. The Borrower expressly waives  presentment,  protest
and demand,  notice of  protest,  demand and  dishonor  and  nonpayment  of this
Agreement  and all other  notices of any kind,  and  expressly  agrees that this
Agreement, or any payment thereunder,  may be extended from time to time without
in any way  affecting  the  liability  of the  Borrower.  To the fullest  extent
permitted  by law,  the defense of the statute of  limitations  in any action on
this Agreement is waiver by the undersigned. This Agreement is to be governed by
the laws of the State of Nevada and venue for any action  brought  regarding the
interpretation  or enforcement of this Agreement  shall lie exclusively in Clark
County, Nevada.

12.       Waiver  of  Remedies.  No  single  or  partial  exercise  of any power
hereunder shall preclude any other or further  exercise  thereof or the exercise
of any other  power.  No delay or omission  on the part of the Lender  hereof in
exercising any right hereunder shall operate as a waiver of such right or of any
other  right under this  Agreement  shall not operate to release any other party
liable hereon.

13.       Interest  Savings Clause.  All agreements  between the undersigned and
the Lender  hereof are  expressly  limited  so that in no  contingency  or event
whatsoever,  whether by acceleration of maturity of the unpaid principal balance
hereof or  otherwise,  shall the amount  paid or agreed to be paid to the Lender
hereof  for the use,  forbearance  or  detention  of the  money  to be  advanced
hereunder  exceed the highest lawful rate  permissible  under  applicable  usury
laws. If, for any circumstances whatsoever,  fulfillment of any provision hereof
at  the  time  performance  of  such  provision  shall  be  due,  shall  involve
transcending the limit of validity  prescribed by law which a court of competent
jurisdiction may deem applicable  hereto,  then ipso facto, the obligation to be
fulfilled  shall  be  reduced  to the  limit of such  validity,  and if from any
circumstances  the Lender  hereof shall ever receive as interest an amount which
would  exceed the highest  lawful  rate,  such amount  which would be  excessive
interest shall be applied to the reduction of the unpaid  principal  balance due
hereunder and not to the payment of interest. This provision shall control every
other provision of all agreements between the undersigned and the Lender hereof.

14.       Conditions.  The  obligations  of Lender to  perform  its  obligations
hereunder  is  subject  to Lender  having  received  from  Borrower  each of the
following documents:

         (a) The Deed of Trust,  Security  Agreement,  Financing  Statement  and
Fixture Filing with  Assignment of Rents attached hereto as Exhibit "A" executed
in recordable form by Borrower.

         (b) The Option Agreement attached hereto as Exhibit "B" executed by
Borrower.

15.       Waiver of Jury by Trial.  Each party to this Agreement agrees that any
suit,  action,  or  proceeding  brought or instituted by any party hereto or any
successor  or assign of any party on or

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with respect to this  Agreement, any of the  documents  executed  in  connection
with  this  Agreement,  or any  event, transaction or occurrence arising out of
or in any way connected  therewith, or the dealings of the parties with respect
thereto, shall be tried only by a court and not a jury. EACH PARTY HEREBY
EXPRESSLY WAIVES ANY RIGHT TO A TRIAL BY JURY IN ANY SUCH SUIT, ACTION, OR
PROCEEDING.  Borrower  acknowledges and agrees that this provision is a specific
and material aspect of this Agreement between the parties and that Lender  would
not agree to provide  the  financing  referenced herein if this waiver of jury
trial provision were not a part of this Agreement.

16.       Extension or Renewal. This Agreement may from time to time be extended
or renewed,  with notice to and  acceptance by the  undersigned  and any related
right may be waived, exchanged, surrendered or otherwise dealt with, all without
affecting the liability of the undersigned hereon.

17.       Security.  The obligations referenced in this Agreement are secured by
a Deed of Trust.

         IN WITNESS  WHEREOF,  the parties  hereto have  executed or caused this
Agreement to be executed on the date referenced below.

                                     LENDER:

                                     FIRST COLONY MERCHANT

                                     By:    /s/  J. M. Edwards
                                          ------------------------------
                                                 November 23, 2000
                                                 -----------------
                                                    Date

                                     TOBIAN TRADING LIMITED

                                     By:    /s/  J. M. Edwards
                                          ------------------------------
                                                 November 23, 2000
                                                 -----------------
                                                       Date

                                    BORROWER:

                                    CAN CAL RESOURCES LIMITED

                                    By:      /s/  Ronald D. Sloan
                                           -------------------------------------
                                                 November 23, 2000
                                                 -----------------
                                                      Date

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