Document:

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                                                                   EXHIBIT 10.28

                                 PROMISSORY NOTE

ALPHARETTA, GEORGIA                                     DATE: SEPTEMBER 12, 2002

PRINCIPAL AMOUNT: US $20,000.00

INTEREST RATE: 10% per annum

DUE DATE: DECEMBER 31, 2002

FOR VALUE RECEIVED the undersigned, Syndicated Food Services International
Inc., a Florida corporation (the "Borrower") promises to pay to the order of
FIDRA HOLDINGS LTD., OR ITS SUCCESSORS OR ASSIGNS (THE "HOLDER"), the sum of
TWENTY THOUSAND US DOLLARS (USD $20,000.00) (The Principal) on December 31, 2002
(The "Maturity Date"), together with the interest at the rate of Ten per cent
(10%) per annum on the principal amount outstanding from time to time until paid
in full. All sums due hereunder shall be paid by the Borrower to the holder of
this Note at such address as designated by the holder of this Note to the
Borrower.

In the event a default shall be made in payment of any installment of interest
or principal or other charges when due all such amounts shall bear interest at a
default rate of interest from the date of default at the rate of 12% per annum
and shall be immediately due and payable. In the event of any default hereunder
the holders shall be entitled to all remedies at law or in equity and shall be
entitled to all costs and expenses incurred by its, including attorneys fees.

This Note shall be governed by and construed in accordance with the laws of the
State of New York, without regard to conflict of law principles. Any dispute
with respect to the interpretation of this Note or the rights and obligations of
the parties shall be exclusively brought in a proceeding in the United States
District Court for the Southern District of New York or if such court lacks
subject matter jurisdiction in the Supreme Court of the State of New York,
County of New York. Each of the holder and the Borrower waives the right to
context the jurisdiction or venue of either of such courts or to claim it is an
inconvenient forum.

Neither the Borrower or the holder may claim the right to have a jury trial and
the Borrower shall have no right of offset or counterclaim.

The Borrower expressly waives the right to notice of any default or the right to
presentment or demand.

The proceeds of this Note shall be used to fund accounting expenses associated
with the audit of the company's books and records for the calendar year ended
December 31, 2001 and quarterly reviews for the calendar year ending December
31, 2002.

SYNDICATED FOOD SERVICE INTERNATIONAL INC.,

By: /s/ Thomas P. Tanis Jr.
    ------------------------
    THOMAS P. TANIS, JR.
    CHIEF EXECUTIVE OFFICER

                             /s/ RONALD F. SATTLER
                             -----------------------------
                               RONALD F. SATTLER
                     Notary Public Gwinnett County, Georgia
                       My Commision Expires June 27, 2004<PAGE>

                                                                   EXHIBIT 10.29

                                PROMISSORY NOTE

ALPHARETTA, GEORGIA
                                                          DATE: DECEMBER 13,2002

PRINCIPAL AMOUNT: US $435,000
INTEREST RATE: 12% per annum

DUE DATE: DECEMBER 31,2003

FOR VALUE RECEIVED the undersigned, Syndicated Food Services International Inc.,
a Florida corporation (the "Borrower") promises to pay to the order of FIDRA
HOLDINGS LTD., OR ITS SUCCESSORS OR ASSIGNS (THE "HOLDER"), the sum of Four
Hundred Thirty Five Thousand Dollars (USD $435,000.00) (The Principal). on
December 31, 2003 (The "Maturity Date"), together with the interest at the rate
of Twelve per cent (12%) per annum on the principal amount outstanding from time
to time until paid in full. All sums due hereunder shall be paid by the Borrower
to the holder of this Note at such address as designated by the holder of this
Note to the Borrower.

In the event a default shall be made in payment of any installment of interest
or principal or other charges when due all such amounts shall bear interest at a
default rate of interest from the date of default at the rate of 15 % per annum
and shall be immediately due and payable. In the event of any default hereunder
the holders shall be entitled to all remedies at law or in equity and shall be
entitled to all costs and expenses incurred by its, including attorneys fees.

This Note shall be governed by and construed in accordance with the laws of the
State of Florida, without regard .to conflict of law principles. Any dispute
with respect to the interpretation of this Note or the rights and obligations
of the parties shall be exclusively brought in a proceeding in the United States
District Court for the Southern District of Florida or if such court lacks
subject matter jurisdiction in the Supreme Court of the State of Florida. Each
of the holder and the Borrower waives the right to context the jurisdiction or
venue of either of such courts or to claim it is an inconvenient forum.

Neither the Borrower nor the holder may claim the right to have a jury trial and
the Borrower shall have no right of offset or counterclaim.

The Borrower expressly waives the right to notice of any default or the right to
presentment or demand.

The proceeds of this Note shall be used to fund settlement costs associated with
certain 3rd Party. Billing complaints against Borrower and expenses associated
with general corporate matters.

SYNDICATED FOOD SERVICE INTERNATIONAL INC.

By: /s/ Thomas P. Tanis, Jr.
    ------------------------
    THOMAS P. TANIS, JR.
    CHIEF EXECUTIVE OFFICER<PAGE>

                                                                   EXHIBIT 10.30

                                 PROMISSORY NOTE

Atlanta, Georgia
                                                              Date: March 6,2003

PRINCIPAL AMOUNT: USD $50,000,00

INTEREST RATE: 10% p.a.

DUE DATE: August 31, 2003

FOR VALUE RECEIVED the undersigned jointly and severally promise to pay to FIDRA
HOLDINGS LTD. or order, the sum of FIFTY THOUSAND US DOLLARS (USD $50,000.00) on
August 31" 2003, together with the interest at the rate of Ten per cent (10%)
per annum on the principal amount outstanding from time to time, calculated from
the date hereof and payable on the last day of each month from and after March
31st, 2003, up until maturity and after maturity until PAYMENT, PROVIDED that
the Promissor may, in each year, calculated from the date hereof, pay by way of
accelerated repayment of principal, such amount or amounts when aggregated
together, total up to, but not more than one quarter (1/4) of the principal
outstanding hereunder at any time, without notice or bonus prior to maturity
date.

Notice of Presentment, Protest and Dishonor are hereby waived.

/s/ Thomas P. Tanis, Jr.
------------------------

SYNDICATED FOOD SERVICES INTERNATIONAL INC.,<PAGE>

                                                                   Exhibit 10.31

                         REAL ESTATE PURCHASE AGREEMENT

         This REAL ESTATE PURCHASE AGREEMENT ("Agreement") is made as of this
___ day of November, 2001 ("Effective Date"), by and between Syndicated
Bloomington I LLC, a Delaware limited liability company ("Purchaser"), and
Charles A. Beasley and Marjorie A. Beasley, residents of the State of Indiana
("Seller").

                                    AGREEMENT

         In consideration of the payment by Purchaser to Seller of the Purchase
Price (as defined below) and other good and valuable consideration, the receipt
and legal sufficiency of which are hereby acknowledged, and the mutual covenants
contained in this Agreement, Seller and Purchaser agree as follows:

         1.Purchase and Sale. Purchaser hereby agrees to purchase from Seller
and Seller hereby agrees to sell to Purchaser that certain parcel of real estate
commonly known as 4863 Vernal Pike, Bloomington, Monroe County, Indiana 47401
("Real Estate"), as more particularly described on Exhibit A ("Description"),
together with all rights, privileges, interest, easements, hereditaments,
appurtenances, fixtures and improvements now or hereafter belonging,
appertaining, located on, attached to, or used in connection with the Real
Estate, including, without limitation, that certain approximately sixty thousand
(60,000) square foot facility (collectively, "Appurtenances") (the Real Estate,
together with the Appurtenances, being referred to as "Property").

         2. Other Agreements. Syndicated Food Service International, Inc. (f/k/a
Floridino's International Holdings, Inc.) and its wholly-owned subsidiary
corporations, Syndicated Food Service Group, Inc. and Syndicated Transportation
Service Group, Inc. (to be formed) (the "Subsidiaries"), have entered into a
separate Agreement and Plan of Merger and Reorganization ("Merger Agreement")
dated the same day as this Agreement with Seller, Beasley Food Service, Inc.
("BFS") and Beasley Transportation, Inc. ("BTI"), both of which are wholly owned
by Seller. Under the Merger Agreement, the Subsidiaries, respectively, will
acquire by merger all of the shares of BFS and BTI, which corporations conduct a
wholesale food distribution business on the Property.

         3. Purchase Price and Manner of Payment. The purchase price for the
Property is Three Million Five Hundred Thousand Dollars ($3,500,000) ("Purchase
Price"). The Purchase Price is payable as follows:

         (a)      Purchaser has paid to Chicago Title Insurance Company ("Title
                  Company"), to be held in escrow pursuant to the terms of this
                  Agreement and the Escrow Agreement attached as Exhibit B, a
                  deposit ("Deposit") against the Purchase Price of One Hundred
                  Thousand Dollars ($100,000),

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                  which, together with all accrued interest thereon, will be
                  refunded to Purchaser if (i) Seller this Agreement (which
                  breach shall include Seller's failure to satisfy an objection
                  or pay a Monetary Lien as described in Section 5.1 below by
                  the Closing Date or termination of this Agreement pursuant to
                  Section 9 below) or Seller, BHI or its subsidiaries default
                  under the Merger Agreement and the Merger Agreement is
                  terminated, or (ii) Seller and Purchaser mutually agree to
                  terminate this Agreement and the Merger Agreement or if this
                  Agreement should otherwise terminate not due to any default of
                  Purchaser under this Agreement, including termination of this
                  Agreement pursuant to Sections 5.2, 5.3, 9 and 25 below. The
                  Deposit will serve as liquidated damages in any action at law
                  for a Purchaser's Default as defined in Section 15 below.

         (b)      One Million Four Hundred Thousand Dollars ($1,400,000) shall
                  be paid by Purchaser to Seller by wire transfer of federal
                  funds to a bank account(s) designated by Seller.

         (c)      The balance of the Purchase Price shall be payable by
                  Purchaser's assumption or satisfaction of a Mortgage and
                  Fixture Filing dated as of September 18, 1997 by Seller, as
                  Grantor, for the benefit of Bank One, Indiana, NA, as Lender,
                  recorded in Mortgage Record A891 at pages 443-452 in the
                  Office of the Recorder of Monroe County, Indiana covering the
                  Property and additional property, which additional property
                  was released from the Mortgage and Fixture Filing by Partial
                  Release of Mortgage and Assignment dated December 7, 1998,
                  recorded as record number 824809 (such Mortgage and Fixture
                  Filing, as modified by such Partial Release of Mortgage and
                  Assignment, being called herein the "Mortgage"), which
                  Mortgage secures payment of a promissory note dated September
                  18,1997 ("Note") from Seller to Bank One, Indiana, NA, in the
                  original principal amount of $2,600,000, which as of the date
                  hereof has and which as of the Closing shall have an unpaid
                  principal balance of no greater than $2,000,000. If Purchaser
                  shall assume the Mortgage and Note, Purchaser shall execute an
                  Assumption Agreement in the form attached as Exhibit C, which
                  shall include a release of Seller from the Mortgage. If the
                  balance due and owing on the Note and Mortgage is less than
                  $2,000,000, the Purchase Price will be reduced by the
                  difference between that balance and $2,000,000, but the amount
                  payable under Section 3(b) will remain $1,400,000.

         4. Closing. The purchase and sale of the Property shall be consummated
at a closing to be held simultaneously with the closing of the transactions
contemplated by the Merger Agreement, which shall occur no later than December
17, 2001, subject to extension to a date no later than December 31, 2001 if
Purchaser requests as a result of Purchaser's inability to satisfy, or assume
and secure a release of Seller from, the Mortgage by December 17, 2001. The date
and event of the consummation of the

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purchase and sale of the Property as contemplated by this Agreement are referred
to, respectively, as the "Closing Date" and the "Closing".

         5. Purchaser's Conditions Precedent to Closing. Purchaser's obligation
to purchase the Property is subject to its confirmation of the satisfaction of
the following conditions precedent:

                  5.1 Title Commitment and Policy. Within five (5) days after
         the Effective Date, Seller, at its sole cost and expense, shall provide
         Purchaser with a commitment for an owner's policy of title insurance
         ("Title Commitment"), issued by Title Company and containing the
         agreement of the Title Company to issue an owner's policy of title
         insurance (ALTA Form 1992) insuring fee simple title to the Property in
         the name of Purchaser or its assignee or designee upon delivery of a
         special warranty deed therefor from Seller to Purchaser, together with
         such endorsements as Purchaser shall require, including non-imputation,
         Fairway, Zoning, separate Tax Parcel, Subdivision Act, ALTA 9, Public
         Street Access, Gap, waiver of arbitration and contiguity; provided that
         Seller shall not be required to provide any indemnity agreement to the
         Title Company in connection with any endorsements except with respect
         to non-imputation and Gap and as may be contained in the Vendor's
         Affidavit. Seller's obligation to pay for the Title Commitment is
         limited to the portion of the title company charges attributable to the
         title search, not the title insurance, closing or recording fees, or
         other incidental expenses requested by Purchaser, all of which are the
         responsibility of Purchaser. The Title Commitment shall set forth the
         state of title to the Property, together with all exceptions or
         conditions to such title, including, but not limited to, all easements,
         restrictions, rights-of-way, covenants, reservations and all other
         liens and encumbrances affecting the Property which would appear in an
         owner's policy of title insurance issued pursuant to the Title
         Commitment and shall set forth the Title Company's requirements for
         issuing such owner's policy of title insurance with extended coverage
         (i.e., without standard pre-printed exceptions). Purchaser shall
         receive with the Title Commitment legible copies of the exceptions set
         forth therein and the most recent tax bills for the Property. The Title
         Commitment shall contain the commitment of the Title Company to insure
         title in the name of the Purchaser for the full amount of the Purchase
         Price, provided, however, Purchaser shall pay the cost of any
         endorsements to the Commitment that Purchaser may desire. The title
         policy to be issued pursuant to the Title Commitment shall be issued at
         Closing in a "New York style" closing.

                  5.2 Permitted Exceptions. Within five (5) days after delivery
         of the Title Commitment, Purchaser shall advise Seller of any defect or
         objections disclosed by the Title Commitment (other than the Mortgage)
         which are objectionable to Purchaser. Any item shown on the Title
         Commitment to which no objection is made by that date is a "Permitted
         Exception." If any objection is timely made, or if a lien or
         encumbrance shall first affect the Property after the effective date of
         the Commitment and prior to the Closing, Seller has the option, in
         Seller's sole discretion, to make reasonable efforts to satisfy such
         objections, except that Seller

<PAGE>

         agrees to satisfy any monetary lien affecting the Property ("Monetary
         Lien") at or prior to the Closing and with respect to any other title
         matter objected to by Purchaser which is not in a liquidated amount but
         which can be cured within a period of twenty (20) days at an expense of
         not more than $25,000 ("Other Title Matters"), Seller shall also cure
         the same at or prior to the Closing. In the event those defects and
         objections (other than the Monetary Liens and other Title Matters,
         which Seller shall satisfy at or prior to the Closing) are not
         satisfied by the Closing Date, then, at the option of Purchaser,
         Purchaser may elect to terminate this Agreement or waive the objection
         and proceed to Closing. For purposes of this Agreement, any such defect
         or objection shall be deemed to have been cured by Seller upon the
         issuance to Purchaser by the Title Company of its policy insuring title
         to the Property without exception for such defect or objection
         (specifically referring to such defect or objection) at no additional
         cost to Purchaser.

                  5.3 Environmental Assessment. Purchaser may obtain, at its
         sole cost and expense, a Phase I Environmental Assessment of the
         Property prepared by an environmental company selected by Purchaser
         ("Environmental Assessment"), which reports on the environmental
         condition of the Property, including without limitation, whether the
         Property is affected by wetlands or subsidence and whether the
         environmental condition of the Property has been adversely affected by
         past uses and is free of any underground storage tanks, hydrocarbon
         contamination, asbestos containing materials, polychlorinated
         biphenyls, hazardous materials, hazardous substances, hazardous waste,
         regulated, infectious or toxic substance, material or waste, including,
         but not limited to, petroleum products and by-products and those
         substances, materials and wastes defined or specified in 42 U.S.C.
         ss.9601, et seq., and any other federal or state statute or local
         ordinance relating to the environment or public health and applicable
         to the Property as well as any rules and regulations promulgated,
         administered or enforced by any governmental agency or authority
         pursuant thereto including any subsequent amendments thereof
         ("Hazardous Substances"), and that the Property is not in violation of
         any state, federal or local environmental, health or safety law, rule
         or regulation. The Environmental Assessment shall be addressed to
         Purchaser, Purchaser's lender and such other parties as Purchaser may
         reasonably require. If, in the reasonable judgment and direction of
         Purchaser, the Environmental Assessment discloses that the
         environmental condition of the Property has been affected by wetlands
         or adversely affected by past uses or is not free of Hazardous
         Substances or if there is any other adverse environmental condition
         affecting the Property, Purchaser may terminate this Agreement at any
         time prior to the Closing Date and one- half of the Deposit, together
         with accrued interest on that portion of the Deposit, will be returned
         to Purchaser. Seller has provided Purchaser with copies of all
         environmental reports or other assessments of the Property which Seller
         has in its records.

                  5.4 General Inspection. Purchaser has previously inspected and
         tested the improvements located on the Real Estate, including, without
         limitation, heating

<PAGE>

         and air conditioning systems, interior plumbing systems, electrical
         systems, roofs, walls, ceilings, floors, windows and foundations, and
         has found the improvements acceptable.

         6. Seller's Condition Precedent to Closing. Seller shall be released
from liability under the Mortgage and Note by written instrument in the form of
the Release incorporated in the Assumption Agreement or otherwise in a form
reasonably satisfactory to Seller or by satisfaction of the Mortgage and
cancellation of the Note.

         7. Purchaser's Right of Entry. Through the Closing Date, Purchaser and
its employees, agents, contractors and engineers shall have the right to enter
upon the Property at all reasonable times and from time to time for the purpose,
at Purchaser's cost and expense, of inspecting, surveying, making engineering,
soil, drainage, utility, traffic and other inspections and tests reasonably
necessary. In the event Purchaser, its employees, agents, contractors or
engineers shall damage the Property during the course of such inspections or
tests, Purchaser shall promptly repair the damage to the Property caused by such
inspections and/or tests. Purchaser shall indemnify and hold Seller harmless of
and from any mechanic's, materialman's, laborer's or artisan's liens or claims
that may be filed or asserted against the Real Estate or Seller by the agents,
contractors or employees performing such work for Purchaser. In addition,
Purchaser shall indemnify and hold Seller harmless of and from any and all
claims and liabilities for injury or damage to person or property as a result of
or arising out of Purchaser's inspection of the Property.

         8.       Closing Adjustments and Prorations.

                  8.1 Taxes and Assessments. Seller shall pay, prior to
         delinquency, all installments of real estate taxes and assessments,
         whether regular, general or special, which are due and payable on or
         before the Closing Date. Purchaser shall pay all installments of real
         estate taxes and assessments, whether regular, general or special, due
         and payable after the Closing Date.

                  8.2. Transfer Taxes; Documentary Stamp Taxes; Gross Income
         Tax. Immediately upon conveyance of the Property, Seller shall pay all
         state, county and city property transfer taxes, documentary stamp taxes
         and gross income or adjusted gross income taxes then due and payable in
         respect of, or in connection with, the sale of the Property.

                  8.3. Recording Fees. At Closing, Purchaser shall pay all
         state, county and city recording fees and costs related to the
         conveyance of the Property to Purchaser.

                  8.4 Insurance. Seller's tenant, Beasley Food Service, Inc.,
         has maintained insurance on the Property. That insurance shall be
         continued notwithstanding the

<PAGE>

         Closing. Any separate insurance maintained by Seller in respect of the
         Property, if any, shall be paid in full and cancelled as of the Closing
         Date.

                  8.5 Utilities. All utility and other charges with respect to
         or in connection with the Property before the Closing Date are the
         responsibility of Seller's tenant, Beasley Food Service, Inc., which
         shall be responsible for all such charges through the Closing Date.

                  8.6 Title Insurance and Closing Costs. At Closing, Purchaser
         shall pay all premiums and charges by the Title Company allocable to
         Purchaser in connection with its issuance of the owner's policy of
         title insurance to be issued (including any endorsements), together
         with any closing fee charged by the Title Company to issue the Title
         Policy with an effective date as of the Closing Date and other
         incidental costs of Closing for expenses requested by Purchaser.

All credits to Purchaser or to Seller from the closing adjustments and
prorations described above or elsewhere in this Agreement shall increase or
decrease, as applicable, the amount of funds due at Closing from Purchaser.

         9. Risk of Loss, Casualty and Condemnation. Until the purchase and sale
of the Property is consummated at the Closing and possession is delivered to
Purchaser, all of the costs, expenses and risks of ownership, maintenance and
loss of the Property are borne by Seller. If, prior to Closing through no fault
of Purchaser, the Property, or any part of it, is, or may be, taken or damaged
pursuant to an exercise or threat of exercise of the power of eminent domain,
fire or other casualty in a way that would materially affect Purchaser's ability
to conduct business from the Property, Purchaser may, upon delivery of written
notice to Seller within ten (10) days following notice of such casualty or
taking, terminate this Agreement whereupon neither party shall have any further
obligation under this Agreement, except that Seller shall cause the Deposit,
together with all accrued interest thereon, to be returned to Purchaser.
Alternatively, at Purchaser's election, Purchaser may proceed to Closing and
receive a credit or reduction in the Purchase Price by the amount of the entire
proceeds of the award or compensation, through insurance or otherwise, payable
to Seller in respect of the part so taken or damaged; the reduction shall first
come out of the amount of funds due at Closing and then shall reduce the
principal amount of the Mortgage unless, if the Mortgage shall be assumed at
Closing, the terms of the Mortgage require proceeds to be first applied to
principal or interest under the Note and Mortgage in which case the sum due at
Closing under Section 3(b) shall not be reduced by the funds so applied. Any
appraisal ordered by Purchaser to determine the proper amount of reduction in or
credit against the Purchase Price shall be paid for by Seller.

         10. Possession. Possession of the Property shall be delivered by Seller
to Purchaser at Closing free and clear of any leases, occupancies, licenses or
rental agreements or any other right to possession or option or right to acquire
any interest in the Property except for the current tenancies or occupancies of
Beasley Food Service, Inc. and Beasley Transportation, Inc.

<PAGE>

         11. Sale "As Is" and Without Warranties. Except as provided in this
Section 11, Purchaser hereby acknowledges that Seller is selling the Property,
including all improvements located thereon, "AS IS" and without any warranty
whatsoever, including without limitation, any warranty pertaining to the fitness
of the Property for a particular use, any environmental characteristic of the
Property, or any warranty pertaining to the quality or condition of the Property
or any personal property, equipment, appliances or items used or sold in
connection therewith, except as otherwise contained in this Agreement or the
Merger Agreement. This Section 11 is not intended to, and does not, invalidate
any independent obligation of Seller or any other party under the Merger
Agreement. Seller represents and warrants the following to Purchaser with
respect to the Property:

         a.       No consent or approval of any third party is necessary for the
                  consummation of the transactions contemplated by this
                  Agreement other than as may be required with respect to the
                  Mortgage.

         b.       Neither the execution nor the delivery of this Agreement by
                  Seller nor consummation of the transactions contemplated by
                  this Agreement by Seller (i) conflicts with or results in a
                  breach of any agreement, contract, license, permit, or other
                  obligation which bind Seller, Seller's tenants or the Property
                  except for the Note and Mortgage or (ii) amounts to or results
                  in a violation of any statute, regulation, rule, ordinance or
                  judgment or order of court or administrative agency having
                  jurisdiction over Seller or the Property except for breaches,
                  violations or the like which are not material to Seller or
                  would not prevent the completion of the transactions
                  contemplated by this Agreement. Neither Seller nor either of
                  Seller's tenant is in default under the Note, Mortgage,
                  Declaration (reflected as item F-H-8 on the Title Commitment
                  dated October 19, 2001 for the Property) or any other
                  agreement affecting the Property that survives the Closing.

         c.       There are no building service agreements respecting the
                  Property other than agreements which have been entered into by
                  Seller's tenants in the ordinary course of their business
                  operations, none of which obligate tenant for more than
                  $10,000 or one (1) year unless otherwise disclosed under the
                  Merger Agreement. All utilities and improvements necessary for
                  the conduct of business operations by Seller's tenants are
                  present and complete and in working order consistent with the
                  historic conduct of business operations on the Real Estate by
                  Seller's tenant as of the date of this Agreement.

         d.       To the best of Seller's knowledge, there have been no
                  violations of any Environmental, Health and Safety
                  Requirements (as that term is defined in the Merger Agreement)
                  or other laws, ordinances, regulations or other

<PAGE>

                  legal requirements with respect to the Property during
                  Seller's ownership of the Property.

         e.       There is a valid Certificate of Occupancy for the improvements
                  on the Real Estate.

         f.       There is no litigation or administrative proceeding pending
                  or, to the best knowledge and belief of Seller, threatened
                  against Seller, after due inquiry, having any bearing upon the
                  Property or Seller's ability to execute, deliver and perform
                  obligations under this Agreement.

Seller will bring the above representations and warranties current to the
Closing by delivery of an appropriate certificate. The representations and
warranties will survive the Closing for a period of three (3) years.

         12. Seller's Obligations at Closing. At Closing, Seller agrees to
deliver to Purchaser in accordance with the terms of this Agreement the
following:

                  a.       A duly executed Special Warranty Deed in recordable
         form conveying good and marketable title to the Property subject only
         to Permitted Exceptions, unless otherwise agreed by Purchaser in
         writing, together with all authority documents showing the authority of
         Seller to sell and convey the Property and the authority of the
         signatory party to bind the Seller;

                  b.       A duly executed Vendor's Affidavit in the form
         attached as Exhibit D.

                  c.       Exclusive possession and occupancy of the Property;

                  d.       An assignment of warranties with respect to the
         Property;

                  e.       Seller shall furnish Purchaser with an affidavit in a
         form reasonably satisfactory to Purchaser stating that Seller is not a
         "Foreign Person" as that term is used in ss.1445 of the Internal
         Revenue Code;

                  f.       A duly executed sales disclosure statement, as
         required by LIC. 6-1.1-5.5, et seq, ("Sales Disclosure Statement");

                  g.       An owner's policy of title insurance issued by the
         Title Company ("Title Policy") with an effective date as of the Closing
         Date in the amount of the Purchase Price, which shall insure fee
         simple, indefeasible title to the Property in the name of Purchaser as
         legal owner, with the endorsements referred to in Section 5.1 above
         attached thereto, subject only to the Permitted Exceptions. The Title
         Policy shall be issued on ALTA Form 1992 (10-17-92); and

<PAGE>

                  h.       All other documents, including a Settlement
         Statement, reasonably necessary to complete the transaction
         contemplated by this Agreement; provided that those documents do not
         change the legal rights and obligations of the parties.

         13. Purchaser's Obligations at Closing. At Closing, Purchaser agrees to
deliver to Seller:

                  a.       The funds referred to in Section 3(b) of this
         Agreement, subject to the Closing adjustments and prorations;

                  b.       An Assumption Agreement or satisfaction of Mortgage,
         duly executed and authorized;

                  c.       A Sales Disclosure Statement, duly executed and
         authorized; and

                  d.       Evidence of existence, organization and authority of
         Purchaser to consummate the transactions contemplated herein and
         evidence of authority of the person executing documents on behalf of
         Purchaser, in form reasonably satisfactory to Seller.

         14. Use of Brokers. Seller and Purchaser represent and warrant to one
another that neither has contracted nor dealt with any real estate broker,
finder or other person with respect to this Agreement or the transactions
contemplated hereby; and, insofar as they know, no other real estate broker or
other person claiming through either Seller or Purchaser is entitled to any
commission or finder's fee in any such connection. Seller and Purchaser each
agree to indemnify and hold harmless one another against any loss, liability,
damage or claim incurred by reason of any brokerage commission or finder's fee
alleged to be payable because of the indemnifying party's representation in this
Section being untrue. Such indemnity obligation shall be deemed to include the
payment of reasonable attorneys' fees and court costs incurred in defending any
such claim.

         15. Default. If the purchase and sale contemplated by this Agreement is
not consummated due to the breach or default or misrepresentation by Purchaser
("Purchaser's Default"), Seller's sole remedy under this Agreement shall be to
terminate this Agreement and to have the Title Company pay the Deposit, and all
accrued interest thereon, to Seller as liquidated damages. Seller and Purchaser
expressly recognize the difficulty of precisely ascertaining the amount of
damages to Seller in the event of a default by Purchaser hereunder and declare
and agree that the liquidated damages set forth in Section 3(a) above represent
reasonable damages to Seller. In the event the purchase and sale contemplated by
this Agreement is not consummated due to the breach or default by Seller, or if
any representation or warranty made herein is materially untrue or breached as
of the Closing Date ("Seller's Default"), Purchaser may avail itself of any and
all remedies at law or in equity, including, but not limited to, a suit for
specific performance of this Agreement, unless specific performance is
unavailable because of Seller's inability to convey the Property in accordance
with this Agreement, or for damages for the breach of this Agreement or any of
the representations or warranties in

<PAGE>

this Agreement, including offsetting damages against payments due to Seller
under the Merger Agreement or realization on collateral under the Pledge and
Escrow Agreement to be delivered at Closing under the Merger Agreement. Seller's
exercise of its remedy under this Agreement does not preclude Seller from
exercising a remedy available to Seller under the Merger Agreement or any other
agreement of Seller or Seller's affiliates with Purchaser or Purchaser's
affiliates; provided that nothing in this Section 15 shall be construed as
allowing recovery by Seller greater than actual damages. Any liability under
this Agreement is agreed to be includible under the aggregate liability
limitation set forth in Section 6.5 of the Merger Agreement.

         16. Notices. All notices, requests, demands, consents and other
communications required or permitted under this Agreement shall be in writing
and shall be deemed to have been duly and properly given on the date of service
if delivered personally or on the date of mailing if deposited in a receptacle
of the United States registered or certified mail, first class postage prepaid,
return receipt requested, or sent by reputable overnight delivery service,
addressed appropriately as follows:

         If to Seller:          Charles A. Beasley
                                Marjorie A. Beasley
                                P. O. Box 524
                                5600 Nathan Way
                                Bloomington, Indiana 47408

         With a copy to:        John W. Boyd, Esq.
                                Barnes & Thornburg
                                11 South Meridian Street
                                Indianapolis, Indiana 46204-3535

         If to Purchaser:       Syndicated Bloomington I LLC
                                661 Seville Road, Suite 113
                                Daytona Beach, Florida 32119
                                Attn: William C. Keeler, CEO

         With a copy to:        Lowell Willinger, Esq.
                                Proskauer Rose LLP
                                1585 Broadway
                                New York, NY 10036

         Either party may change its address for purposes of this Section 16 by
giving the other party written notice of the new address in the manner set forth
above.

         17. Assignment. Purchaser may freely assign its interest in this
Agreement to any affiliate of Purchaser without the consent of Seller, but any
assignment shall not relieve Purchaser of its obligations or liability under
this Agreement.

<PAGE>

         18. Confidentiality. Except as may be required by law, including
federal securities laws, this Agreement and any Environmental Assessment
conducted by Purchaser under Section 5.3 shall be confidential and not disclosed
to any third parties without the written consent of the parties.

         19. Binding on Successors. This Agreement is binding upon and inures to
the benefit of the parties and their respective successors, assigns and
court-appointed representatives.

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

         21. Counterparts. This Agreement may be executed in any number of
counterparts, each of which shall be deemed an original, but all of which
together shall constitute one and the same agreement.

         22. Modification. This Agreement may not be changed or modified except
by an agreement in writing signed by the party sought to be charged with the
modification.

         23. Waiver. No failure on the part of either party to exercise any
power or right under this Agreement or to insist upon strict compliance with any
obligations specified herein, and no custom or practice at variance with the
terms hereof constitutes a waiver of either party's right to demand exact
compliance with the terms hereof; provided however, that either party may, at
its sole option, waive in writing, any requirement, covenant or condition
established for the benefit of the party without affecting any of the other
terms or provisions of this Agreement. No delay on the part of either party in
the exercise of any power or right operates as a waiver nor shall any single or
partial exercise of any power or right preclude other or further exercise
thereof or the exercise of any other power or right. Except as otherwise
provided in this Agreement, all rights and remedies existing under this
Agreement are cumulative.

         24. Captions. Captions of the sections of this Agreement are solely for
the convenience of the various parties and shall not be construed to interpret
or limit the content of any provision or section of this Agreement.

         25. Merger Agreement. The Closing of the transactions contemplated by
this Agreement shall occur simultaneously with the closing of the transactions
contemplated by the Merger Agreement. If the Closing of the transactions
contemplated by the Merger Agreement does not occur, then the transactions
contemplated by this Agreement shall likewise not occur. If the Closing does not
occur through no fault of Purchaser, the Deposit and all accrued interest on it
shall be returned to Purchaser.

         26. Entire Agreement. This Agreement and the Merger Agreement
constitute the entire agreement among the parties and supersede all prior
discussions, agreements, writings and representations between Seller and
Purchaser with respect to the Property and the transaction contemplated by this
Agreement.

<PAGE>

         27. Severability. This Agreement is intended to be performed in
accordance with, and only to the extent permitted, by all applicable laws,
ordinances, rules and regulations. In the event any one or more of the
provisions contained in this Agreement shall for any reason be held to be
invalid, illegal or unenforceable in any respect in a final ruling or judgment
of a court of competent jurisdiction from which no appeal has or can be taken,
this Agreement shall not terminate and there shall be immediately substituted
for such invalid or unenforceable provision a like but valid and enforceable
provision, with the approval of all of the parties to this Agreement, which most
nearly satisfies the ruling of such court and comports with the original
intention of the parties.

         IN WITNESS WHEREOF, Purchaser and Seller have executed this Agreement
as of the dates set forth below.

                  "PURCHASER"

                                    SYNDICATED BLOOMINGTON I LLC,
                                    a Delaware limited liability company

                                    By: /s/
                                        -----------------------------
                                        Managing Director

                  "SELLER"

                                        /s/ Charles A. Beasley
                                        -----------------------------
                                        Charles A. Beasley

                                        /s/ Marjorie A. Beasley
                                        -----------------------------
                                        Marjorie A. Beasley

Exhibit A - Description

Exhibit B - Escrow Agreement (Chicago Title Insurance Company)

Exhibit C - Assumption Agreement and Release or Satisfaction of Mortgage [to be
provided by Bank One, Indiana]

Exhibit D - Vendor's Affidavit

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