Document:

PURCHASE
      AND SALE OF REAL ESTATE AGREEMENT

     

    THIS
      PURCHASE AND SALE OF REAL ESTATE AGREEMENT (“Agreement”) is made this
      16th
      day of
      February, 2006, by CITY
      CENTRAL BANCORP, INC.,
      a
      Michigan corporation, or an affiliated entity, having an address at 2995
      Saddlewood Road, West Bloomfield, Michigan 48324 (hereinafter referred to as
      “Buyer”), and ANNE
      M. BITONTI, AS TRUSTEE OF THE ANNE M. BITONTI REVOCABLE TRUST, U/A/D OCTOBER
      6,
      2000,
      having
      an address Thompson-Brown Realtors, 30180 Orchard Lake Road, Suite 200,
      Farmington Hills, Michigan 48334 (hereinafter referred to as the
“Seller”).

     

    RECITALS:

     

    A. Seller
      is
      the owner of two (2) parcels of real property located at the northeast corner
      of
      12 Mile Road and Dixon Road in the City of Novi, County of Oakland, State of
      Michigan, referred to as Parcel No. 50-22-10-400-012 and 50-22-10-400-013,
      which
      real property is more particularly described on Exhibit “A” attached hereto and
      incorporated herein by reference (the “Property”); and

     

    B. Buyer
      desires to purchase from Seller and Seller desires to sell and convey to Buyer
      a
      Property, together with all structures, improvements, rights, easements and
      appurtenances located thereon and appertaining thereto, in consideration of
      the
      purchase price and other covenants herein contained, all as hereinafter set
      forth.

     

    NOW,
      THEREFORE, in consideration of and in reliance on the mutual promises and
      undertakings herein made and the mutual benefits to be derived therefrom, the
      parties hereto represent, covenant and agree as follows:

     

    1.  Sale
      of Property.
      Subject
      to the terms and conditions herein set forth, Buyer shall purchase from Seller
      and Seller shall sell and convey to Buyer the Property, subject to no liens,
      restrictions or encumbrances excepting utility lines which service the subject
      property and except such restrictions and easements of record as are approved
      by
      Buyer as provided in paragraph 3 and the right of the public in any street
      or
      highway forming a boundary of the Property. This sale includes all existing
      structures and improvements located thereon, and all right, title and interest,
      if any, of Seller in and to any land lying in the bed of any street or highway
      opened or proposed, in front of or adjoining the Property to the center line
      thereof.

     

    Except
      for the representations and warranties of Seller set forth in Paragraph 5 of
      this Agreement, the subject property is being sold and purchased in an “as is”
condition, including the environmental condition thereof, with the specific
      understanding by both Buyer and Seller that the Seller has made an initial
      selling price reduction and that Seller shall not, except for any expenses
      incurred by Buyer that arise out of a breach of any covenant, obligation,
      representation or warranty of Seller contained in this Agreement or any document
      executed by Seller in connection with the closing of this transaction, be
      responsible for any expenses incurred by Buyer with respect to its due diligence
      activities with respect to the Property, any required municipal approvals sought
      by Buyer with respect to the Property or Buyer’s development of the Property,
      including but not limited to expenses arising out of improvements required
      by
      the municipality, costs of conducting environmental investigations and tests
      (including a BEA, if applicable), expenses of obtaining or vacating easements,
      and expenses pertaining to road improvements and the dedication
      thereof.

     

    
      
        
        

      

      
        1

        
          

        

      

      
        
        

      

    

     

    Seller
      has provided Buyer with time in which to do Buyer’s independent investigations
      of the subject property and it shall be the responsibility of Buyer to make
      its
      independent investigations and determine if the subject property meets the
      requirements of Buyer’s intended use or not. Buyer has the option under the
      terms of this Agreement to find that the subject property meets the Buyer’s
      requirement for it’s intended use and proceed to closing or if not meeting
      requirements to withdraw from this Agreement in accordance with it’s terms and
      conditions.

     

    2.  Purchase
      Price.
      The
      total purchase price for the Property herein conveyed shall be EIGHT HUNDRED
      FIFTY THOUSAND DOLLARS ($850,000) (the “Purchase Price”).

     

    The
      Purchase Price shall be payable as follows:

     

    
      
        
          
            	 	
                    a.

                  	
                    Within
                      five (5) days after execution and delivery of this Agreement,
                      Buyer shall
                      deposit with Buyer’s Broker (hereinafter defined) a check in the amount of
                      Thirty Thousand Dollars ($30,000) to be held in escrow to be
                      applied to
                      the Purchase Price at closing, released to Seller, or refunded
                      to Buyer as
                      provided herein;

                  

          

           

        

      

    

    
      	 	
              b.

            	
              On
                or before the date of Close of Escrow (as hereinafter defined), Buyer
                shall deposit into escrow any additional sum so that Buyer’s deposit(s)
                plus the additional sum equals the Purchase Price, plus any costs
                or
                prorations which are Buyer’s responsibility under paragraph
                10.

            

    

     

    3.  Title/Survey.
      Seller
      shall furnish good, marketable and insurable title to the Property at closing.
      “Insurable” as used herein is defined to mean title which is insurable by
      Lawyers Title Insurance Corporations, c/o Steven Nadolski, 1050 Wilshire Drive,
      Suite 310, Troy, MI 48084 (the “Title Company”) at its standard rates without
      standard exceptions except for those exceptions, if any, approved in writing
      by
      Buyer after receipt of a title commitment from the Title Company dated after
      the
      date of this Agreement and accompanied by copies of all documents referred
      to
      therein and the survey referenced below which locates all easements and other
      existing improvements. Buyer shall be responsible for any additional survey
      work, or to re-certify the survey to Buyer and the Title Company, if desired
      by
      Buyer including any requirement of the title company for an ALTA survey in
      order
      to remove the standard title exceptions and to issue the title commitment and
      subsequent title policy without standard exceptions.

     

    Seller
      shall deliver to Buyer within ten (10) days hereof, the title commitment
      referenced above, that certain survey identified as Job No. 332-B, dated June
      10, 2005 prepared by Boulder Design Services, LLC and copy of traffic study
      from
      2005 (“Seller Documents”). Buyer shall then have twenty (20) calendar days after
      receipt of the Seller Documents in which to examine same. If Buyer finds any
      defects or exceptions to Seller Documents which (a) render the title not
      marketable or insurable or (b) render the Property unsuitable for the Intended
      Use (hereinafter defined), Seller shall be furnished with a written statement
      thereof prior to the expiration of the twenty (20) day period; and Seller shall
      have fifteen (15) calendar days after receipt of Buyer’s notice in which to
      correct or delete all such defects or exceptions. If Seller shall fail to
      correct such defects or exceptions within such period, then Buyer shall have
      an
      additional fifteen (15) calendar days thereafter to either: (i) decline to
      accept the Property with such defects or exceptions, terminate this Agreement,
      and receive a refund of the deposit(s) made by Buyer hereunder together with
      any
      interest accrued thereon; or (ii) accepting the Property with such defects
      and
      exceptions, in the event they can be cured prior to the Close of Escrow. Upon
      approval by Buyer of the title shown in the title commitment, as provided
      herein, and the delivery to Buyer at the Seller’s expense at the Close of Escrow
      of an ALTA owners title insurance policy Form 1992 (without standard or regional
      exceptions) in the amount of the Purchase Price naming Buyer as the insured
      and
      as owner of fee simple title to the Property, subject only to those exceptions
      approved by Buyer, Seller’s obligation hereunder to furnish good, marketable and
      insurable title shall be satisfied. Seller has provided a survey identified
      above as Job No. 332-B dated June 10, 2005 prepared by Boulder Design Services
      LLC and Seller shall not be responsible for any additional survey costs other
      than the survey already provided including any requirement by the Title Company
      for an ALTA survey to issue the title commitment and policy without standard
      exceptions.

     

    
      
        
        

      

      
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    4.  Conditions
      Precedent to Performance of Agreement by Buyer.
      Buyer
      shall be obligated to complete this transaction only upon satisfaction of each
      of the following conditions precedent, or the waiver thereof by Buyer, within
      ninety (90) days (“Due Diligence Period”):

     

    (a)  Seller
      is
      able to convey good, marketable and insurable title to the Property as required
      by paragraph 3.

     

    (b)  The
      representations and warranties made by Seller in this Agreement are true on
      and
      as of the date of the Close of Escrow with the same effect as though such
      representations and warranties had been made on and as of the date of the Close
      of Escrow.

     

    (c)  Buyer
      shall have: (1) obtained final approval of such changes in zoning, variances
      in
      zoning, special use permits or other orders appropriate under applicable zoning
      laws and regulations as are required for Buyer’s intended use of the Property
      which consists of the construction and operation of a bank with drive-through
      lane (hereinafter referred to as the “Intended Use”); (ii) final site plan for a
      building measuring approximately 4,500 square feet, with ample parking, and
      at
      least four (4) covered drive-through lanes as deemed satisfactory by Buyer
      for
      the Intended Use; and (iii) all government regulatory approvals of the location
      for a bank and other approvals and requirements to operate the
      bank.

     

    (d)  Buyer
      shall have received evidence that all necessary utility services (including
      storm drains, sanitary sewer, electricity, gas and water) are available in
      sufficient quantity for the Intended Use and that the provision of said services
      is in conformity with applicable zoning requirements and has been approved
      by
      the appropriate municipal officials and utility companies.

     

    (e)  Buyer
      shall have received satisfactory evidence of access between the Property and
      all
      public streets bordering the Property, including the availability of curb cuts
      for ingress-egress to and from the Property in sizes and at locations designated
      by Buyer and approved by the appropriate governmental officials,

     

    
      
        
        

      

      
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    (f)  The
      results of any inspection, soil tests, drainage test, survey, topographical
      analysis, environmental investigations, engineering and/or architectural
      drawings do not disclose that the Property is unsuitable in the judgment of
      Buyer for the Intended Use. Seller hereby grants to Buyer, its agents and
      contractors a license for access over and through the Property for the purposes
      of conducting any of the foregoing tests, inspections or surveys provided that
      Buyer shall hold Seller harmless from any liability, damage or expense which
      Seller may incur by reason thereof. Buyer shall notify Seller at least 24 hours
      in advance if access is needed to the building structures located on the
      Property. Buyer shall during the initial ninety (90) day due diligence period
      cause to be made by an Environmental Company a Phase I Environmental Assessment
      and deliver a copy of such Assessment to the Seller, at no cost of Seller.
      Further, Buyer shall also deliver to Seller copies of all test results and
      studies caused to be made by Buyer on the subject property as such results
      are
      received by Buyer, at no cost to Seller.

     

    Seller
      hereby discloses to Buyer that Seller purchased the subject property for the
      purpose of renting to tenants the houses that were existing on the property
      at
      the time that the Seller purchased the property. Seller has not personally
      occupied the houses and has not made any independent investigation of whether
      the houses existing on the subject property were ever serviced by heating oil
      or
      some other fuel that may have required an underground fuel oil supply tank.
      If
      it is found that one or more supply tanks exist on the subject property, Buyer
      acknowledges said disclosure and understands and agrees that Seller shall not
      be
      responsible for any costs relating to such underground fuel oil supply tank
      or
      tanks Buyer shall investigate and satisfy itself as to whether any underground
      fuel oil supply tanks exist on the subject property making the subject property
      unsuitable in the judgment of the Buyer for its intended use.

     

    (g)  Seller
      shall have complied, at Seller’s expense, with the provisions of any applicable
      laws and ordinances relating to the subdividing of real property including
      without limitation the preparation, final approval, and filing of any required
      subdivision plat or land division application to legally separate the Property
      from any larger parcel of land. Seller shall not be responsible for any
      requirements or costs relating to the requirements to combine the two parcels
      into one tax parcel which may be required as a part of the City of Novi Site
      Plan Approval process.

     

    (h)  Buyer
      has
      obtained all necessary financing for acquisition of the Property and
      construction of the improvements necessary for Buyer’s Intended
      Use.

     

    In
      the
      event that any contingency of this Agreement has not been either satisfied
      or
      waived by Buyer within ninety (90) days from the date of this Agreement, Buyer
      shall have the option to further extend the Due Diligence Period for three
      (3)
      successive thirty (30) day periods upon notice to Seller and payment to Seller
      of Ten Thousand Dollars ($10,000) from the original deposit held by Buyer’s
      Broker, for each thirty (30) day extension. If Buyer elects to terminate this
      Agreement prior to the expiration of the last extension of the Due Diligence
      Period, Buyer and Seller shall be relieved of any further liability to the
      other, and any remaining portion of the deposit held by Buyer’s Broker shall
      thereupon be returned to Buyer. If Buyer has satisfied or waived any remaining
      conditions prior to the expiration of the Due Diligence Period, as may be
      extended, and closes on the Property, the entire amount of the original deposit
      shall be applied to the Purchase Price. Any deposits paid to Seller for thirty
      (30) day extensions defined above shall be non-refundable, except in the event
      Buyer terminates this Agreement pursuant to Paragraph 8 of this Agreement,
      but
      applicable to the purchase price at closing.

     

    
      
        
        

      

      
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    5.  Representations
      and Warranties of Seller.
      Seller
      represents and warrants to and agrees with Buyer as follows:

     

    (a)  Seller
      is
      the trustee of a trust, duly created, validly existing, and Seller has the
      power
      to own the Property and to enter into this Agreement to sell the
      Property.

     

    (b)  The
      execution of this Agreement and the consummation of the transactions
      contemplated herein have been duly authorized by the Trust and constitutes
      the
      binding obligation of Seller without any third-party or beneficiary
      approval.

     

    (c)  The
      transfer and delivery by Seller of the Property to Buyer as provided hereunder
      and the execution of any other agreements contemplated herein will not conflict
      with or result in the breach (which breach will affect its ability to perform
      hereunder) of any of the terms of any agreement or instrument to which Seller
      is
      a party or by which it is or may be bound or constitute a default thereunder,
      or
      violate any state or federal governmental law, statute, ordinance or
      regulation.

     

    (d)  Seller
      has no actual knowledge of any encroachments of buildings, structures or
      improvements located on the Property onto adjoining property.

     

    (e)  Seller
      is
      not involved in, nor aware of, any pending or threatened litigation which does
      or may affect the Property and there are no actions or proceedings pending
      or
      threatened against Seller before any court or administrative agency in any
      way
      connected with the Property.

     

    (f)  Seller
      is
      not a foreign corporation, foreign partnership, foreign trust or foreign estate
      (as defined in the Internal Revenue Code) and consequently Buyer need not
      withhold any portion of the purchase price as provided in Section 1445 of the
      Internal Revenue Code and Seller will so certify on Close of
      Escrow.

     

    (g)  To
      the
      best of Sellers knowledge, without Seller making any independent investigations,
      that the Property (including the land, surface, water, ground water and any
      improvements) does not contain any underground storage tanks, asbestos,
      substantial amounts of waste or debris, or contamination. The representations
      contained in this paragraph shall survive the Close of Escrow and the
      recordation of the Deed. The Seller in this Agreement provided for the Buyer
      with due diligence time to perform the Buyers independent investigations as
      to
      the conditions of the Property including environmental conditions. Although
      the
      Seller is unaware of any contamination or hazardous waste being on the Property,
      the Seller must leave it to the Buyer to do it’s own independent investigation
      and thereby to make its independent determination as to the environmental
      condition of the Property and the Property meeting the requirements of the
      Buyer
      for it’s intended use.

     

    6.  Establishment
      of Escrow and Close of Escrow; Extension of Close of Escrow.
      Upon
      execution of this Agreement by both parties, the parties shall open an escrow
      the Title Company in order to consummate the purchase in accordance with the
      terms and provisions hereof The provisions hereof shall constitute joint
      instructions to the Title Company; provided, however, that the parties shall
      execute such additional instructions as requested by the Title Company not
      inconsistent with the provisions hereof. Said escrow instructions shall provide
      for closing (the “Close of Escrow”) by recordation of a Warranty Deed from
      Seller to Buyer, and delivery of other documents and performance of other
      conditions required by this Agreement, within thirty (30) days after the
      expiration of the Due Diligence Period, as may be extended, and the vacation
      of
      the month-to-month tenancy of the occupants of the houses, said date being
      the
“Closing Date”. If the Closing Date falls on a Saturday, Sunday or legal
      holiday, then in such event the date for Close of Escrow should be automatically
      extended to the next following business day.

     

    
      
        
        

      

      
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    7.  Deed;
      Possession.
      Upon
      the Close of Escrow, Seller shall convey fee title to the Property to Buyer
      by
      general Warranty Deed, whereupon Seller shall deliver and Buyer shall accept
      quiet and peaceable possession of the Property, free of any tenants or
      occupants.

     

    8.  Default.
      In the
      event of any default by Seller hereunder, Buyer may, at its option, elect to
      enforce the terms of this Agreement through specific performance, or demand,
      and
      be entitled to, an immediate refund in full all deposit(s) by Buyer hereunder
      in
      full termination of this Agreement. In the event of any default by Buyer
      hereunder, Buyer and Seller agree that the actual damages, including any
      attorney’s fees and any damage for withdrawing the Property from the market for
      Buyer’s failure to perform hereunder by reason of any default of Buyer would be
      extremely difficult to measure, and that the amount of the deposits) by Buyer
      provided for herein is a reasonable estimate of such damages. In the event
      that
      Buyer defaults hereunder, Seller shall be paid the deposit(s) as its sole right
      to damages or other relief.

     

    9.  Condition
      of Property.
      The
      Property shall be delivered to Buyer at the Close of Escrow in the same physical
      condition as of the date hereof. In the event there occurs any material change
      in the physical condition of the Property, Seller shall immediately notify
      Buyer
      thereof and this Agreement shall, at Buyer’s election, immediately become null
      and void. If Buyer elects to accept the Property in its then condition, all
      proceeds of insurance, if any, or claims for damages payable to Seller by reason
      of such damage shall be paid to or assigned to Buyer.

     

    10.  Prorations
      and Expenses.
      All
      taxes and assessments (including all unpaid assessments, whether or not due)
      which have become a lien on the Property at the date of the Close of Escrow
      shall be paid by Seller. Current real property taxes and rentals shall be
      prorated between Buyer and Seller as of the date of the Close of Escrow. Seller
      shall pay the cost of any documentary transfer tax levied in accordance with
      requirements of lawful authority. Seller shall pay all costs of preparing and
      recording any documents required to remove title exceptions, and the premium
      for
      the owner’s policy of title insurance. Buyer and Seller shall each pay one-half
      of the escrow fee. Buyer shall pay the recording fee for the deed and any costs
      relating to the requirements of the City of Novi to combine the parcels into
      one
      tax parcel which may be required as a part of the site plan approval
      process.

     

    Seller
      is
      aware and hereby discloses to Purchaser that sanitary sewer was installed in
      Section 10 of the City of Novi by a Contract Special Assessment District #
      94.
      The property owned by Seller being sold to Buyer was not assessed nor included
      in the sanitary sewer Contract Special Assessment District # 94 and there may
      be
      tap in fees or connection fees for the sewer to service this property which
      may
      result in the Buyer having to pay additional or increased sewer connection
      or
      tap in fees as a result of the subject property not being included or assessed
      as part of the Sanitary Sewer Contract Special Assessment District # 94. Seller
      shall not be responsible for any of these costs related to the sanitary sewer
      connections which may or may not be considered an assessment.

     

    
      
        
        

      

      
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    11.  Brokers;
      Indemnification by Seller.
      Seller
      shall indemnify and hold Buyer harmless against any and all commissions, fees,
      costs or expenses incurred by or due to any real estate broker engaged by Seller
      for or by reason of Seller’s sale of the Property and against any claims,
      damages, loss, cost or expense, including attorneys’ fees, or other liability of
      any nature incurred by reason of the breach by Seller of any warranty or
      representation contained in this Agreement or any warranty or representation
      of
      Seller being untrue. All representations, warranties and indemnities made by
      Seller in this Agreement or pursuant hereto shall survive the Close of Escrow
      and the consummation of the transaction contemplated by this Agreement,
      notwithstanding any investigation theretofore or thereafter made by or on behalf
      of Buyer. Notwithstanding the foregoing, Buyer and Seller acknowledge and agree
      that Seller is represented by Thompson-Brown Realtors, and the six percent
      (6%)
      commission payable by Seller at closing shall be equally shared with Max Broock
      Inc. Realtors, acting as Buyer’s Broker.

     

    12.  Counterparts.
      This
      Agreement may be executed in one or more counterparts and shall become effective
      when one or more counterparts have been signed by all of the parties; each
      counterpart shall be deemed an original but all counterparts shall constitute
      a
      single instrument.

     

    13.  Assignment.
      This
      Agreement may be assigned by either party without the prior written consent
      of
      the other party hereto and such assignment of this Agreement by either party
      hereto shall relieve it of its obligations hereunder upon receipt of written
      notice of such assignment by the other party. Subject to the foregoing, this
      Agreement shall be binding upon the heirs, executors, administrators and
      successors to the parties hereto.

     

    14.  Notices.
      All
      notices, requests, demands and other communications hereunder shall be in
      writing and shall be deemed to have been duly given if mailed by registered
      or
      certified mail with postage prepaid, or deposited, prepaid, with an overnight
      delivery service, in each case, within such period as is reasonable under the
      circumstances, addressed to each party as provided on the first page of this
      Agreement, and a copy sent to the following:

     

    (a)  If
      to
      Seller, copy to:

     

    Thompson-Brown
      Realtors

    30180
      Orchard Lake Road, Suite 200

    Farmington
      Hills, Michigan 48334

    Attn:
      William W. Bowman Sr.

    
      
        
        

      

      
        7

        
          

        

      

      
        
        

      

    

    

    (b)  If
      to
      Buyer, copy to:

     

    Clark
      Hill PLC

    255
      S.
      Old Woodward, Third Floor

    Birmingham,
      MI 48009

    Attn:
      Eric DeGroat, Esq.

    

    or
      to
      such other addressees as shall be furnished in writing by either party to the
      other.

    

    15.  Miscellaneous.
      This
      Agreement and all certificates, instruments and other papers furnished in
      connection with this Agreement set forth the entire understanding and agreement
      between the parties with reference to the subject matter hereof. This Agreement
      shall be construed and interpreted and the rights of the parties determined
      and
      enforced in accordance with the laws of the state wherein the Property is
      located. The headings for the various articles of this Agreement are used only
      as a matter of convenience for reference and are not to be considered a part
      of
      this Agreement or to be used in determining the intent of the parties to this
      Agreement.

     

    16.  Time
      of the Essence.
      Time is
      of the essence in this Agreement. If counterparts to this Agreement have not
      been executed and returned to both parties as presented within ten (10) calendar
      days of the date delivered by the first to sign, this Agreement and offer
      becomes null and void and of no further force or effect.

     

    17.  Tax
      Deferred Exchange.
      The
      Buyer is aware that the Seller is participating in a tax deferred exchange
      as
      defined under Section 1031 of the Internal Revenue Code and that this property
      is being sold in connection with that transaction. The Buyer agrees to cooperate
      in the transaction for the benefit of the Seller. The Buyer will incur no
      additional expense or obligation in connection with fulfilling the requirements
      of the exchange. The Buyer will have no liability or responsibility in
      connection with the exchange portion of the transaction.

     

    THE
      UNDERSIGNED individuals have been duly authorized to bind the respective parties
      to this Agreement as of the day and year so indicated.

     

    
      	Date: February
              16, 2006	BUYER:
	 	 	 
	 	CITY
              CENTRAL BANCORP, INC.
	 
 	 
 	 
 
	 	By:  	/s/ Satish
              Jasti
	 	 	
              
 
	 	
              Name: 

            	
              Satish Jasti

            
	 	Its:	President & CEO
	 	
               

                          

            
	 	 

    

      

      
        
          
          

        

        
          8

          
            

          

        

        
          
          

        

      

      	 	 	 
	Date: February 11, 2006	SELLER:
	 
 	 
 	 
 
	   	By:  	/s/ Anne
              Bitonti     
	 	
              

              Anne
                M. Bitonti, as trustee of the Anne M.

              Bitonti
                Revocable Trust, U/A/D June 6, 2000

            
	 	 

    

     

    
      
        
        

      

      
        9

        
          

        

      

      
        
        

      

    

    EXHIBIT
      A

     

    Legal
      Description of Property

     

    Commonly
      known as: 44264
      Twelve Mile Road, Novi, MI

    

    Tax
      Parcel Nos.:          (Parcel
      1) 50-22-10-400-012

                                          (Parcel
      2) 50-2210-400-013

    

    Legal
      Descriptions:

    

    Parcel
      1:

    Part
      of
      the Southeast 1/4 of Section 10, Town I North, Range 8 East, City of Novi,
      Oakland County, Michigan, described as: Commencing at the South 1/4 corner
      of
      said section; thence North 00 degrees 52 minutes 00 seconds West, 300 feet
      to
      the Point of Beginning, thence North 00 degrees 52 minutes 00 seconds West,
      165
      feet; thence East 264 feet; thence South 00 degrees 52 minutes 00 seconds East,
      165 feet; thence West 264 feet to the Point of Beginning.

    

    Parcel
      2:

    Part
      of
      the Southeast 1/4 of Section 10, Town 1 North, Range 8 East, City of Novi,
      Oakland County, Michigan, described as: Commencing at the South 1/4 corner
      of
      said section; thence North 00 degrees 52 minutes 00 seconds West, 75.01 feet
      to
      the Point of Beginning, thence North 00 degrees 52 minutes 00 seconds West,
      254.99 feet; thence East 264 feet; thence South 00 degrees 52 minutes 00 seconds
      East, 254.99 feet; thence West 264 feet to the Point of
      Beginning.

    
      
        
        

      

      
        10<PAGE>

                                                                     EXHIBIT 4.5

              EXCLUSIVE TECHNICAL AND CONSULTING SERVICES AGREEMENT

This Exclusive Technical Consulting and Services Agreement (the "Agreement"),
dated February 25, 2005, is entered into at Beijing by and between the following
two parties (the "Parties)].

Party A: KongZhong Information Technologies (Beijing) Co., Ltd.

Party B: Beijing AirInbox Information Technologies Co., Ltd.

WHEREAS,

1.   Party A, a wholly foreign-owned enterprise incorporated in People's
     Republic of China (the "PRC", for purpose of this Agreement, excluding Hong
     Kong, Macao and Taiwan), owns resources to provide the technical and
     consulting services.

2.   Party B, a wholly domestic-owned limited liability company incorporated in
     the PRC, is licensed by relevant government authorities to engage in the
     internet information service value-added telecommunication service;

3.   Party A agrees to provide technical consulting and relevant services to
     Party B in accordance with the Agreement from January 1, 2005 to February
     28, 2005.

4.   Party A agrees to provide technical consultation and relevant services to
     Party B and Party B agrees to accept such technical consultation and
     services;

WHEREAS, Party A and Party B, through friendly negotiation and based on equality
and mutual benefit, enter into the Agreement as follows:

1.   TECHNICAL CONSULTING AND SERVICES; OWNERSHIP AND EXCLUSIVE INTERESTS

1.1  During the term of this Agreement, Party A agrees to provide relevant
     technical consultation and

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     services to Party B (the content is specified in Appendix 1) in accordance
     with the conditions provided by the Agreement.

1.2  Party B hereby agrees to accept such technical consultation and services.
     Party B further agrees that, during the term of this Agreement, it shall
     not accept technical consultation and services for above-mentioned business
     provided by any third party unless consented by Party A with a written
     notice in advance.

1.3  Party A shall be the sole and exclusive owner of all rights, title,
     interests and intellectual property rights arising from the performance of
     this Agreement, including but not limited to, any copyrights, patent,
     know-how, commercial secrets and others, whether developed by Party A or
     Party B based on Party A's intellectual property.

1.4  Party B promises that Party A has the priority on cooperation with party B
     under same conditions in case Party B is going to cooperate with other
     enterprises in respect of any business.

2.   CALCULATION AND PAYMENT OF THE FEE FOR TECHNICAL CONSULTATION AND SERVICES
     (THE "FEE")

2.1  The parties agree that Party B shall pay Party A the fee of RMB10 million
     for technical consultation and services provided by Party A to Party B for
     the period from January 1, 2005 to February 28, 2005. Party B shall pay
     such fee to Party A within 15 days upon receipt of payment notice given by
     Party A.

3.   REPRESENTATIONS AND WARRANTIES

3.1  Party A hereby represents and warrants as follows:

     3.1.1 Party A is a company duly registered and validly existing under PRC
          laws;

     3.1.2 Party A shall perform this Agreement within its corporation powers
          and scope of business. Party A has obtained all necessary
          authorizations, and consents or approvals of any other third parties
          or government authorities to perform the Agreement. The performance of
          this Agreement shall not be in violation of any binding

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          or effective laws or contracts;

     3.1.3 The Agreement, upon execution, will constitute a legal, valid and
          binding agreement of Party A enforceable against Party A.

3.2  Party B hereby represents and warrants as follows:

     3.2.1 Party B is a company duly registered and validly existing under PRC
          laws and is licensed to engage in the value-added telecommunication
          service.

     3.2.2 Party B shall perform this Agreement within its corporation powers
          and scope of business. Party B has obtained all necessary
          authorizations, and consents or approvals of any other third parties
          or governmental authorities to perform the Agreement. The performance
          of this Agreement shall not be in violation of any binding or
          effective laws or contracts;

     3.2.3 The Agreement, upon execution, will constitute a legal, valid and
          binding agreement of Party B enforceable against Party B.

4.   CONFIDENTIALITY

4.1  The Parties agree to take various reasonable measures with best efforts to
     protect and maintain the confidentiality of the confidential data and
     information (the "Confidential Information") learned or contacted by the
     Parties in the exclusive consulting and services, and shall not disclose,
     give or transfer any Confidential Information to any third party without
     prior written consent of the other Party. Upon termination or expiration of
     this Agreement, the Parties shall, at the request of the other Party,
     return any documents, information or software containing any of
     Confidential Information to the owner or destroy it, and delete any such
     Confidential Information from any memory devices, and cease to use such
     Confidential Information. The Parties shall take necessary measures to
     disclose the Confidential Information only to the employees, agents or
     professional consultants of Party B who need to know such information and
     cause them to observe the confidential obligations hereunder.

4.2  The limitation stipulated in Section 4.1 shall not apply to:

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     4.2.1 the materials available to the public at the time of disclosure;

     4.2.2 the materials that become available to the public after the
          disclosure not due to the fault of Party B;

     4.2.3 the materials Party B proves to have got the control neither directly
          nor indirectly from any other party before the disclosure;

     4.2.4 the information that the parties disclosed to the relevant government
          authorities, stock exchanges or other institutions in accordance with
          the applicable law and the information that the parties disclosed to
          their direct legal counsels or financial consultants upon the need of
          normal business operations.

4.3  Both Parties agree that this article shall survive the modification,
     elimination or termination of this Agreement.

5.   INDEMNITY

5.1  Party B shall indemnify and hold Party A harmless from any losses, damages,
     obligations and fees resulting from any litigation, claims or other request
     against Party A which occurs or is caused by the content of the
     consultation and services that Party A provides to Party B at Party B's
     request.

6.   EFFECTIVE DATE AND TERM

6.1  This Agreement shall be executed and come into effect as of the date
     specified in Article 6.2.

6.2  The effective term of this Agreement is from August 1, 2005 to September
     30, 2005. This Agreement can be renewed in case that both parties wish to
     continue the cooperation on the expiration date.

7.   TERMINATION

7.1  This Agreement will be terminated on the expiration date stipulated in
     Article 6.2 of this Agreement.

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7.2  During the term of this Agreement, Party B shall not terminate this
     Agreement. Party A may terminate this Agreement at any time with a written
     notice to Party B 30 days before such termination. If Party A terminates
     the Agreement in advance due to Party B's reason, Party B shall indemnify
     Party A all the losses caused thereby to Party A and pay the relevant fees
     for the services already provided.

7.3  Subsequent to the termination of this Agreement, the rights and obligations
     of both Parties under Article 4 and 5 shall remain effective.

8.   DISPUTES RESOLUTION

8.1  The parties shall strive to settle any dispute arising from the
     interpretation or performance of this Agreement through friendly
     consultation. In case no settlement can be reached through consultation,
     each party may submit such dispute to China International Economic and
     Trade Arbitration Commission (the "CIETAC"). The arbitration shall follow
     the current rules of CIETAC, and the arbitration proceedings shall be
     conducted in Chinese and shall take place in Beijing. The arbitration award
     shall be final and binding upon both Parties. This article shall survive
     the termination or elimination of this Agreement.

8.2  Each Party shall continue to perform its obligations in good faith
     according to the provisions of this Agreement except for the matters in
     dispute.

9.   FORCE MAJEURE

9.1  Force Majeure, means any event that is beyond the party's reasonable
     control and cannot be prevented with reasonable care, including but not
     limited to acts of governments, acts of nature, fire, explosion, typhoon,
     flood, earthquake, tide, lightning or war. However, any shortage of credit,
     capital or finance shall not be regarded as an event of Force Majeure. The
     affected party who is claiming to be not liable to its failure of
     fulfilling this Agreement by Force Majeure shall inform the other party,
     without delay, of the approaches of the performance of this Agreement by
     the affected party.

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9.2  In the event that the affected party is delayed in or prevented from
     performing its obligations under this Agreement by Force Majeure, within
     the scope of such delay or prevention, the affected party will not be
     responsible for any damage by reason of such a failure or delay of
     performance. The affected party shall take appropriate means to mitigate or
     remove the effects of Force Majeure and try to resume performance of the
     obligations delayed or prevented by the event of Force Majeure. After the
     event of Force Majeure is removed, both parties agree to resume performance
     of this Agreement with their best efforts.

10.  NOTICES

     Notices or other communications required to be given by any party pursuant
     to this Agreement shall be in writing and be delivered by personal
     delivery, registered or mail or postage prepaid mail, recognized courier
     service or by facsimile transmission to the address of the relevant party
     or parties set forth below.

     Party A:   KongZhong Information Technologies (Beijing) Co., Ltd.
     Address:   Floor 35 Tengda Plaze, Xiwai Street, Haidian District, Beijing
     Fax:       _________
     Telephone: _________
     Addressee: Yang Ning

     Party B:   Beijing AirInbox Information Technologies Co., Ltd.
     Address:   Floor 32-33 Tengda Plaze, Xiwai Street, Haidian District,
                Beijing
     Fax:       _________
     Telephone: _________
     Addressee: Zhou Yunfan

11.  ASSIGNMENT

     Party B shall not assign its rights or obligations under this Agreement to
     any third party without the prior written consent of Party A. Party A may
     assign its rights or obligations under this

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     Agreement to any third party without the consent of Party B, but shall
     inform Party B of the above assignment.

12.  SEVERABILITY

     Any provision of this Agreement that is invalid or unenforceable because of
     any inconsistency with relevant law shall be ineffective or unenforceable
     within such jurisdiction where the relevant law governs, without affecting
     in any way the remaining provisions hereof.

13.  AMENDMENT AND SUPPLEMENT

     Any amendment and supplement of this Agreement shall come into force only
     after a written agreement is signed by both parties. The amendment and
     supplement duly executed by both parties shall be part of this Agreement
     and shall have the same legal effect as this Agreement.

14.  GOVERNING LAW

     The execution, validity, performance and interpretation of this Agreement
     shall be governed by and construed in accordance with the PRC laws.

IN WITNESS THEREOF THE PARTIES HERETO HAVE CAUSED THIS AGREEMENT TO BE DULY
EXECUTED ON THEIR BEHALF BY A DULY AUTHORIZED REPRESENTATIVE AS OF THE DATE
FIRST SET FORTH ABOVE.

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PARTY A: KONGZHONG INFORMATION TECHNOLOGIES (BEIJING) CO., LTD.

Authorized Representative:
                           ------------------------------------

PARTY B: BEIJING AIRINBOX INFORMATION TECHNOLOGIES CO., LTD.

Authorized Representative:
                           ------------------------------------

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APPENDIX 1: THE LIST OF TECHNICAL CONSULTATION AND SERVICES

Party A shall provide technical and consulting services as follows:

1.   maintenances of the machine room and website;

2.   provision and maintenances of the office network;

3.   integrated security services for the website;

4.   design and implementation of the integrated structure of the network of the
     website, including the installation of the server system and 24 hours'
     daily maintenances each week.

5.   development and test of new products;

6.   marketing plan of new products;

7.   conception, creation, design, update and maintenance of the web pages;

8.   maintenance of the clients service platform;

9.   training of the employees;

10.  study and analysis on market;

11.  public relationship service

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