Document:

Exhibit 10.16

                                 LEASE AGREEMENT

         THIS LEASE AGREEMENT is made and entered into effective this 1st day of
December, 1996, by and between C.R Wehr, Jr., hereinafter referred to as
"Lessor", and GuildMaster, Inc., hereinafter referred to as "Lessee".

         In consideration of the mutual convenants herein contained and agreed
to be kept, the Lessor does hereby lease to the Lessee and the Lessee does
hereby lease from the Lessor, the Premises on the following terms, conditions,
and agreements:

         1. PREMISES. The Premises are land and a commercial structure for
manufacturing and warehouse/distribution use located at 2655 North Airport
Commerce Avenue, Springfield, Missouri which building has an aggregate of
approximately 41,250 square feet and the land has an aggregate of approximately
164,221 square feet and said Premises being further delineated as Exhibit "A".

         2. TERM. The initial term of this Lease shall be for a period of sixty
(60) months beginning on December 1, 1996 and terminating on November 30, 2001,
unless terminated prior thereto as provided herein. The Lessee may extend the
term of this Lease for three (3) sixty (60) month terms by providing written
notice to Lessor at least ninety (90) days prior to expiration of the initial
and each subsequent renewal term, provided the Lessee is in full compliance with
the terms and conditions of this Lease. The term of this Lease shall include the
initial term and any exercised renewal term. If the premises is not ready for
occupancy by December 1, 1996, then the lease term shall not commence until the
premises is ready for occupancy. At that time, rent will be prorated for any
portion of a month, and the commencement date of the lease term will be
automatically changed to the first day of the next calendar month.

         3. RENTAL. The rental payments for the initial term hereof shall be the
monthly sum of eight thousand seven hundred sixty-six and no cents ($8,766.00)
from December 1, 1996 through November 30, 2001. If the Lessee exercises their
option for the first five (5) year renewal term from December 1, 2001, through
November 30, 2006, the monthly sum shall be determined by multiplying the rate
eight thousand seven hundred sixty-six and no cents ($8,766.00) by a fraction,
the numerator of which is the "Consumer Price Index", published by the United
States Department of Labor, Bureau of Labor Statistics, All Consumers (CPI-U),
all items, (1982-84=100) (or if that Index is not available then an available
Index published by the Bureau or its successors, or if none, by any other
instrumentality of the United States or the State of Missouri), (hereinafter
"CPI-U") for November, 2001, and the denominator of which is the CPI-U for
December, 1996. If there is no increase in the CPI-U for this period, the
monthly rent payments shall remain the same as the previous period but at no
time shall the maximum increase for the CPI-U be greater than three (3) percent
annually, or a total of fifteen percent (15%) over the five (5) year period. If
the Lessee exercises their option for the second five (5) year renewal term for
the period from December 1, 2006, through November 30, 2011, the monthly sum
shall be determined by multiplying the rate eight thousand seven hundred
sixty-six and no

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cents ($8,766.00) by a fraction, the numerator of which is the CPI-U for
November, 2006, and the denominator of which is the CPI-U for December, 1996. If
there is no increase in the CPI-U for this period, the monthly rent payments
shall remain the same as the previous period but at no time shall the maximum
increase for the CPI-U be greater than three (3) percent annually, or a total of
fifteen percent (15%) over the five (5) year period. If the Lessee exercises
their option for the third five (5) year renewal term for the period from
December 1, 2011, through November 30, 2016, the monthly sum shall be determined
by multiplying the rate eight thousand seven hundred sixty-six and no cents
($8,766.00) by a fraction, the numerator of which is the CPI-U for November,
2011, and the denominator of which is the CPI-U for December, 1996. If there is
no increase in the CPI-U for this period, the monthly rent payments shall remain
the same as the previous period but at no time shall the maximum increase for
the CPI-U be greater than three (3) percent annually, or a total of fifteen
percent (15(degree)/a) over the five (5) year period. All installments of rent
shall be payable in advance on the first day of each month of this Lease and all
payments shall be made to Lessor at 1915 W. Sunshine, Springfield, Missouri
65807. Additional rent shall include other charges and expenses to be paid or
reimbursed by Lessee as provided for herein. Any rent or additional rent not
paid within ten (10) days of due date shall bear a late charge equal to ten
percent (10%) of the amount due.

         4. SECURITY DEPOSIT. Lessee shall deposit with Lessor upon execution of
this Lease a sum equal to one thousand and no cents dollars ($1000.00), as
security for Lessee's faithful performance of Lessee's obligations under this
Lease. If Lessee fails to pay the Rent or any other charges due hereunder, or
otherwise defaults under this Lease, Lessor may use, apply or retain all or any
portion of the Security Deposit for the payment of any amount due Lessor or to
reimburse or compensate Lessor for any liability, cost, expense, loss or damage
(including attorneys' fees) which Lessor may suffer or incur by reason thereof.
If Lessor uses or applies all or any portion of the Security Deposit, Lessee
shall within ten (10) days after written request therefor deposit moneys with
Lessor sufficient to restore the Security Deposit to the amount required above.

         5. TRIPLE NET LEASE. It is the intent of the parties that this be a
triple net lease with Lessee bearing all costs of occupancy, repair and
maintenance of the Premises, including but not limited to taxes, insurance,
utilities, repairs, maintenance, and structural repairs, excluding only Lessor's
obligation to (i) make payments on Notes payable by Lessor secured by Deeds of
Trust on the Premises, (ii) restore the Premises as provided in Paragraph 17,
(iii) pay those costs related to a breach by Lessor of its representations and
warranties herein, and (iv) pay for those capital improvements which Lessor
elects at its sole discretion to make to the Premises, subject to full or
partial reimbursement by Lessee as provided in Section 12(c).

         6. LESSOR'S REPRESENTATIONS. The Lessor represents and warrants the
following:

                  (a) Lessor holds absolute and indefeasible title in fee simple
         to the Premises;

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                  (b) Lessor is lawfully seized of the Premises and during all
         of the term hereof, Lessee's possession of the Premises shall not be
         disturbed by lawful acts of third parties claiming title to or a right
         to the possession of the Premises;

                  (c) The Premises is properly zoned for the operation of
         Lessee's current use of the Premises as a manufacturing and storage
         facility and has legal access to and from a publicly dedicated street;
         and

                  (d) The Premises has access to adequate utility services for
         Lessee's proposed use of the Premises as a manufacturing plant or
         warehouse/distribution center.

                  (e) The final construction of the building will be in adequate
         physical condition to allow manufacturing or distribution by the
         Lessee.

         7. TAXES. Lessee shall pay before delinquency thereof any and all
personal and real property taxes assessed against the Premises and the property
of Lessee contained in or on the Premises. Upon request by Lessee, Lessor shall
provide without unreasonable delay, the necessary information, including signing
any necessary forms, to allow Lessee to qualify for any enterprise zone tax
benefits that the Lessee is entitled to as a result of locating at the Lessor's
premises.

         8. UTILITIES. Lessee agrees to promptly pay all gas, electric,
telephone, sewer, trash, water, sprinkler monitoring, and any other utility
charges which may become payable during the continuation of this Lease for such
utilities used in or on the Premises.

         9. USE AND OCCUPANCY.

                  (a) The Premises are to be used in Lessee's business for
         sales, manufacturing, warehousing, and shipping of home furnishings or
         for any other lawful purpose.

                  (b) Lessee covenants that no waste or damage shall be
         committed upon or to the Premises; that the Premises shall not be used
         for any unlawful purpose nor in a manner creating a nuisance for
         adjoining tenants; and that no violation of any city, county, state or
         federal law, rule or regulation shall be permitted or committed
         thereon, including without limitation any Environmental Laws (as
         hereinafter defined). Lessee shall not allow any rubbish or refuse to
         accumulate or any fire hazard to exist on the Premises. Lessee agrees
         to obey and conform to all laws, ordinances, rules, regulations or
         orders of the city, county, state and federal governments and all
         public utilities.

         10. HAZARDOUS SUBSTANCES.

                  (a) Lessee shall not generate, use or store any substances
         designated as, or containing components designated by any governmental
         agency as hazardous,

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                  (b) Lessor is lawfully seized of the Premises and during all
         of the term hereof, Lessee's possession of the Premises shall not be
         disturbed by lawful acts of third parties claiming title to or a right
         to the possession of the Premises;

                  (c) The Premises is properly zoned for the operation of
         Lessee's current use of the Premises as a manufacturing and storage
         facility and has legal access to and from a publicly dedicated street;
         and

                  (d) The Premises has access to adequate utility services for
         Lessee's proposed use of the Premises as a manufacturing plant or
         warehouse/distribution center.

                  (e) The final construction of the building will be in adequate
         physical condition to allow manufacturing or distribution by the
         Lessee.

         7. TAXES. Lessee shall pay before delinquency thereof any and all
personal and real property taxes assessed against the Premises and the property
of Lessee contained in or on the Premises. Upon request by Lessee, Lessor shall
provide without unreasonable delay, the necessary information, including signing
any necessary forms, to allow Lessee to qualify for any enterprise zone tax
benefits that the Lessee is entitled to as a result of locating at the Lessor's
premises.

         8. UTILITIES. Lessee agrees to promptly pay all gas, electric,
telephone, sewer, trash, water, sprinkler monitoring, and any other utility
charges which may become payable during the continuation of this Lease for such
utilities used in or on the Premises.

         9. USE AND OCCUPANCY.

                  (a) The Premises are to be used in Lessee's business for
         sales, manufacturing, warehousing, and shipping of home furnishings or
         for any other lawful purpose.

                  (b) Lessee covenants that no waste or damage shall be
         committed upon or to the Premises; that the Premises shall not be used
         for any unlawful purpose nor in a manner creating a nuisance for
         adjoining tenants; and that no violation of any city, county, state or
         federal law, rule or regulation shall be permitted or committed
         thereon, including without limitation any Environmental Laws (as
         hereinafter defined). Lessee shall not allow any rubbish or refuse to
         accumulate or any fire hazard to exist on the Premises. Lessee agrees
         to obey and conform to all laws, ordinances, rules, regulations or
         orders of the city, county, state and federal governments and all
         public utilities.

         10. HAZARDOUS SUBSTANCES.

                  (a) Lessee shall not generate, use or store any substances
         designated as, or containing components designated by any governmental
         agency as hazardous,

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         dangerous, toxic or harmful, and/or subject to regulations under
         federal, state or local law, regulations or ordinance on or around the
         Premises, except to the extent used (i) in normal quantities and (ii)
         in compliance with all Environmental Laws. Lessee shall not install any
         underground storage tanks on the Premises without prior written consent
         of Lessor, which may be withheld in Lessor's sole discretion. Lessee
         shall be fully and completely liable to Lessor and shall indemnify,
         defend and hold Lessor harmless from any and all cleanup costs and any
         and all other charges, fees (including attorneys' and consultants'
         fees) or penalties relating to the use, disposal, transportation,
         generation or sale by Lessee of hazardous substances on the Premises.

                  (b) Lessee further agrees to indemnify, defend and hold
         harmless Lessor its employees, officers and directors, and Lessor's
         successors, assigns and successors in interest to the Premises or any
         part thereof, from and against any and all liability, losses, expenses
         (including attorneys' and consultants' fees), damages, penalties,
         costs, actions, claims, judgments, fines, response costs, cleanup costs
         and oversight costs which may be imposed upon, incurred by, or asserted
         against Lessor, its employees, officers and directors, and Lessor's
         successors, assigns and successors in interest to the Premises or any
         part thereof, by any person or entity (including, but not limited to, a
         governmental entity), arising out of or in connection with any
         Environmental Conditions on or off the Premises, caused or created by
         Lessee and/or arising out of or in connection with Lessee's violation
         or failure to comply with any Environmental Laws (as hereinafter
         defined) at any time throughout Lessee's occupancy of the Premises
         whether before or after the date of this Lease, except to the extent
         caused by Lessor or relating to an existing condition. Such
         indemnification applies whether or not such liability, damages, losses,
         expenses (including attorneys' and consultants' fees), penalties,
         costs, actions, claims, judgments fines, response costs, cleanup costs
         and oversight costs arise under any theory of strict liability, whether
         under common law or under any federal, state or local law and whether
         arising from the actions of Lessee or any of its employees, agents,
         contractors or licensees, except to the extent caused by Lessor or
         relating to an existing condition.

                  (c) "Environmental Conditions" means any and all conditions
         in, on, under or resulting from the soil, surface water, air, ground
         water and stream sediments on, under or above the Premises that could
         require remedial action or result in claims, demands or liabilities by
         third parties against the owner or operator of the Premises.

                  (d) "Environmental Laws" shall mean all federal, state or
         local environmental laws, ordinances, rules, regulations, requirements,
         licenses, permits, and acts, and all regulations promulgated
         thereunder, whether now existing or hereafter enacted, including, but
         not limited to: the Federal Water Pollution Control Act, 33 U.S.C.
         ss.1251 et seq., as amended ("FWPCA"); the Clean Air Act, 42 U.S.C. ss.
         741 et seq., as amended ("CAA"); the Resource Conservation and
         Recovery Act, 42 U.S.C. ss. 6901 et seq., as amended ("RCRA"); The

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         Comprehensive Environmental Response, Compensation and Liability Act,
         42 U.S.C. ss.9601 et seq., as amended ("CERCLA") The Superfund
         Amendments and Reauthorization Act, as amended ("SARA"); the Clean
         Water Act, as mended ("CWA"); the Toxic Substances Control Act, 15
         U.S.C. ss.2601 et seq., as amended ("TSCA"); the Occupational Safety
         and Health Act, 29 U.S.C. ss.651 et seq., as amended ("OSHA"'); the
         Safe Drinking Water Act, 42 U.S.C. s.300(f) et seq., as amended; the
         Federal Insecticide, Fungicide and Rodentcide Act, 7 U.S.C. ss.136, et
         seq., as amended ("FIFRA"); the Hazardous Material Transportation Act;
         and the Marine Protection, Research and Sanctuaries Act.

                  (e) Lessor represents and warrants that to the best of its
         knowledge and belief the Premises have never been used for the
         treatment, handling, storage, or disposal of any hazardous waste or
         substance or other toxic chemicals or hazardous conditions; and no such
         hazardous dangerous conditions, wastes, chemicals or products now exist
         on the Premises.

                  (f) Lessor further represents and warrants that in the event
         any of the above are ever discovered to exist on the Premises which
         predate closing, that they shall indemnify and hold Lessee and its
         successors and assigns harmless and shall correct and cure some as soon
         as reasonably possible after written notice, and pursuant to all
         governmental agency requirements.

         11. ASSIGNMENT AND SUBLETTING. The Lessee shall not assign or sublet
the Premises, or any part thereof, without obtaining the prior written approval
of the Lessor which consent shall not be reasonably withheld; and, should such
consent be given, the Lessee shall remain liable for the performance of the
terms and conditions and agreements under this Lease during the term of this
Lease (including any renewal term) as though such assignment or subletting had
not been made. Lessee shall reimburse Lessor for Lessor's reasonable costs of
approving documents said transfer, not to exceed One Thousand Dollars ($1,000)
per requested assignment or subletting. Lessor may assign this Lease to any
subsequent owner of the Premises without consent of Lessee.

         12. CONDITION OF PREMISES, REPAIRS. ALTERATIONS AND CAPITAL
IMPROVEMENTS.

                  (a) Prior to the term of this Lease as defined in Section 2,
         the Lessor shall improve the premises at its own expense in accordance
         with the LETTER OF INTENT TO LEASE signed by Lessor on September 9,
         1996, a copy of which is attached hereto and made a part thereof as
         Exhibit "C". The improvements shall be made in conformance with all the
         laws, ordinances, rules and regulations of all public authorities
         having jurisdiction over the premises. Lessor shall furnish to Lessee
         as soon as possible after preparation, copies of all architectural
         drawings and specifications covering said improvement.

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                  (b) Lessor expenses for the improvements outlined in Exhibit
         "B" shall be limited to a total of fifty thousand and no cents dollars
         ($50,000.00). The improvements can include (i) office area infill, (ii)
         compressor airline installation (iii) installation of vents for air
         circulation (iv) installation of air handling units (v) extension,
         including paving, of parking lot area. Should the expense for the
         improvements attached as shown on Exhibit "B" exceed fifty thousand and
         no cents dollars ($50,000.00), Lessee will pay the excess amount over
         fifty thousand and no cents dollars ($50,000.00).

                  (c) Lessee reserves the right to request additional items as
         defined in Exhibit "B" to be added by the Lessor to the premises prior
         to the Lessee taking possession, and because such additional items are
         an added capital expense to the Lessor, the Lessee understands and
         agrees that the lease rate will increase as a result of these expenses.
         Lessee must exercise this right to request any additional items by
         October 15, 1996, and the request shall be in writing. Lessor shall not
         increase the initial monthly lease rate by an amount greater than
         twelve (12) percent of the cost of the additional items divided by
         twelve (12) and the increase shall be done as an amendment pursuant to
         Section 30 of this Agreement.

                  (d) Lessee's taking possession shall be conclusive evidence
         against it that the Premises were in good order and in satisfactory
         condition when Lessee took possession hereunder. Lessee agrees to make
         all interior, exterior and structural repairs, other than those
         necessitated by fault or default of Lessor, to the buildings and land
         comprising the Premises, including without limitation all necessary
         repairs to (i) gas, electrical, plumbing, air conditioning, heating,
         lighting, ventilating, fire sprinkler, fire alarm, smoke alarm, and
         other safety alarm equipment and/or systems as are installed or as may
         be installed in or on the Premises, (ii) all connections from existing
         utilities to the buildings on the Premises, and (iii) the roof,
         ceilings, interior and exterior walls, floors, foundations, windows,
         doors, skylights, signs, driveways, parking lots, fences, retaining
         walls, sidewalks, and landscaping in, on, about or adjacent to the
         Premises. Lessee agrees to replace all broken glass, damaged
         or destroyed in any manner whatsoever in the Premises.

                  (e) Lessee agrees not to make, or cause to have made, any
         alterations or improvements upon the Premises in excess often thousand
         dollars ($10,000.00) without first having submitted plans and
         specifications for such proposed alterations or improvements to Lessor
         and having obtained Lessor's prior written approval of same. All
         repairs, alterations, additions, and improvements to the leasehold,
         except trade fixtures installed by the Lessee which may be removed
         without damage to or subsequent restoration of the Premises, shall
         become the property of Lessor and shall remain upon and be surrendered
         with the Premises at the expiration of this Lease or a sooner
         termination thereof, unless otherwise agreed to by the parties in
         writing.

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                  (f) Lessor shall make, in its sole discretion, capital
         improvements to the Premises which are both essential to Lessee's
         operations and appropriate for the continued use of the Premises as it
         is proposed to be operated, such as the installation of a new roof at
         the expiration of its useful life (the costs and expenses incurred by
         Lessor in connection therewith shall be referred to herein as "Capital
         Expenditures"). Promptly after the completion of any such capital
         improvements, Lessee shall be responsible for paying to Lessor, within
         twenty (20) days after receiving written notice from Lessor, a portion
         of the Capital Expenditures equal to the total Capital Expenditures
         multiplied by the remaining period of time in the term of this Lease
         divided by the useful life of the improvement at issue (using the
         Internal Revenue Code guidelines as a basis for determining such useful
         life if the parties are not able to agree otherwise). It is agreed that
         the useful life of the roof is twenty (20) years and Lessor shall be
         responsible for improvements during the twenty (20) year period. The
         Lessee shall also pay upon the subsequent exercise of each renewal term
         a portion of the Capital Expenditures multiplied by the number of years
         in such renewal term divided by the useful life of the improvement.

                  (g) Lessor represents that upon completion of the new building
         and prior to occupancy by the Lessee that the building is in compliance
         with all city, county, and state building codes.

         13. SIGNS. Lessee shall have the right to erect and maintain customary
and ordinary signs upon the walls of the Premises for advertising, except that
Lessee may not paint signs on walls, roofs, or other area of the Premises
without Lessor's prior written consent. The Lessee shall indemnify and hold
harmless the Lessor from all liability arising to any and all persons
whomsoever, whether for personal injuries or otherwise, by reason of the
erection, maintenance, operation or condition of any sign or signs or any part
thereof, or any device or appliance used in connection therewith, and from any
damage or injury resulting to any persons whomsoever from defects in or
defective condition of that portion of the Premises upon which said signs may be
installed. Any signs placed upon the Premises by Lessee may be removed at the
termination of this Lease and all damage done thereby shall be repaired at
Lessee's expense.

         14. LESSOR'S NON-LIABILITY FOR DAMAGE BY FIRE OR WATER, LIABILITY OF
LESSEE AND INSURANCE.

                  (a) The Lessor shall not be liable or responsible to any
         person or persons whomsoever for any damage to person, goods, wares,
         merchandise or other property in or about the Premises which is caused
         or occasioned by fire or by the breaking, overflowing or leaking of
         roofs, pipes or walls of the building, or for any damage suffered by
         any acts whatsoever, except for those damages caused by Lessor's
         willful acts or gross negligence.

                  (b) The Lessee agrees to be responsible for any damage to the
         property of Lessor which may result from any use of the Premises or any
         act done thereon by

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         the Lessee, or any person coming or being upon the Premises by the
         license of the Lessee, express or implied, and also to save the Lessor
         harmless from any liability to any person, for damage to person or
         property resulting from such cases, and to protect against such
         liability by purchasing and maintaining Public Liability Insurance for
         the benefit of Lessee and the Lessor in coverage of not less than
         $1,000,000 per occurrence/$3,000,000 aggregate. Lessee agrees to
         furnish Lessor a certificate issued by a insurance carrier or carriers
         listed in the "Best Guide" with a "B" rating or above, showing such
         insurance in force arid to provide Lessor with a copy of said policies.
         The policy or policies shall name Lessor as an "additional insured" and
         shall include coverage for liability assumed under this Lease as an
         "insured contract" for the performance of Lessee's indemnity
         obligations under this Lease and, at Lessor's request, shall include
         the "Amendment of the Pollution Exception" for damages caused by heat,
         smoke or fumes from a hostile fire. The limits of said insurance
         required by this Lease or as carried by Lessee shall not, however,
         limit the liability of Lessee nor relieve Lessee of any obligation
         under this Lease.

                  (c) Lessee agrees to purchase property and casualty insurance
         at replacement cost of the Premises, including extended risk, and
         Lessee is further responsible for payment of any deductible associated
         with said policies in the event of a claim. Lessee agrees to furnish
         Lessor a certificate issued by an insurance carrier or carriers,
         acceptable to Lessor, showing such insurance in force and noncancelable
         without at least ten (10) days advance written notice to Lessor, and to
         provide Lessor with a copy of said policies upon request. The policy or
         policies shall name Lessor as an insured party.

         15. MUTUAL INDEMNIFICATION. The Lessee agrees to hold the Lessor free
and harmless from any liens, judgments or encumbrances created or suffered by
the Lessee, and from any and all liability, penalties, losses, damages, costs
and expenses, causes of action, claims or judgments arising from injury during
said term to persons or property of any nature occasioned by an act or omission
of the Lessee, or its employees, agents, or servants, subtenants, or
contractors, and growing out of the occupancy of the Premises by Lessee, and
also against all legal costs and charges, including attorney fees, reasonably
incurred in and about such matters, and the defense of any action arising out of
the same, or in discharging the Premises or any part thereof from any and all
liens that may be placed thereon for charges incurred by Lessee. Notwithstanding
any provision contained in this Lease to the contrary, Lessor hereby indemnifies
Lessee and holds Lessee harmless from and against any and all claims,
liabilities, losses and causes of action of whatever kind of nature which are
suffered by or asserted against Lessee by any person and which claims,
liabilities, losses and causes of action arise out of, or in connection with or
are based upon any acts, omissions, or failures of Lessor, its agents,
contractors, employees, servants or invitees under this Lease.

         16. LESSOR'S RIGHT TO INSPECT. RESERVED RIGHTS. Lessor expressly
reserves the following rights: (a) to enter the Premises at any reasonable time
during

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business hours to examine the Premises, to observe the manner of Lessee's
operations on the premises; and (b) at least ten (10) days after Lessor gives
Lessee written notice, to enter the Premises to make such repairs, additions or
alterations as the Lessor may deem necessary for the improvement or preservation
of the Premises, as long as Lessor does not unreasonably interfere with the
business operations of the Lessee, but Lessor assumes no obligation to make
examinations or repairs to the Premises; and (c) to enter the Premises and
display a sign, "For Rent", at any time within ninety (90) days before the
expiration of this Lease, or any extension thereof, and to maintain the same as
placed; and (d) during or after the time Lessee abandons or vacates the Premises
for reoccupancy. The exercise of any reserved right herein stated by Lessor,
shall never be deemed an eviction or disturbance of Lessee's use and possession
of the Premises and shall never render Lessor liable in any manner to Lessee or
to any other person.

         17. FIRE CLAUSE.

                  (a) If the Premises are partially damaged by fire or other
         casualty, not occurring through Lessee's fault, and such damage can be
         repaired within one hundred eighty (180) days after the date of such
         occurrence, the Lease shall remain in full force and effect, and the
         Lessee shall promptly repair such damage at Lessee's expense, and in
         that event there shall be proportionate abatement of rent for so much
         of the Premises and may be untenantable during the period of repair or
         restoration unless the Premises were damages through Lessee's fault.

                  (b) If in the opinion of a registered architect or engineer
         appointed by the Lessor, the Premises are damaged by fire or other
         casualty to such an extent as to make them untenantable for a period of
         one hundred eighty (180) days or more from the date of such occurrence,
         and such damage cannot be repaired or the Premises restored within said
         time, this Lease shall terminate at the option of either the Lessor or
         Lessee upon written notice given within thirty (30) days after
         receiving said architect's or engineer's opinion. If damage is caused
         by Lessee's fault, then Lessee shall be responsible for all repairs and
         rent for the remaining term of the Lease.

         18. DAMAGE NEAR END OF TERM. Notwithstanding Paragraph 17(a), if at any
time during the last six (6) months of the initial term or any renewal term of
this Lease there is damage to the Premises for which the cost to repair exceeds
six (6) months' rent, whether or not an insured loss, either Lessor or Lessee
may option, terminate this Lease effective sixty (60) days following the
occurrence of such damage by giving written notice to the other party within ten
(10) days after the date of the occurrence of such damages unless Lessee has
prior thereto exercised any option Lessee may have to extend this Lease.

         19. CONDEMNATION. It is mutually agreed by the parties that in case the
whole or any part of the Premises shall be taken by the City, State or other
public authority for any public use and which renders the Premises reasonably
unusable by Lessee, then this Lease shall terminate from the time when
possession of the whole or of

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the part so taken shall be required for such public use, and Lessee shall pay
all rents prorated to the date when possession is taken; and, the Lessee shall
not claim or be entitled to any part of the award to be made for damages for
such taking for public use; and, such taking shall not be deemed a breach of any
covenant for quiet enjoyment by Lessor herein; provided, further, that if only a
portion of the Premises is taken which does not materially interfere with
Lessee's use of the Premises, then the Lease shall continue as to the remaining
portion of the Premises not so taken, in which case the obligations and
liabilities of the Lease shall continue in all respects notwithstanding such
partial taking for public use.

         20. ABANDONMENT AND SURRENDER OF PREMISES. If Lessee shall abandon or
vacate the Premises before the end of the term without an intent to return, or
any other event shall happen entitling Lessor to take possession thereof, Lessor
may take possession of the Premises and relet the same without any action being
deemed an acceptance of a surrender of this Lease, or in any way terminating the
Lessee's liability hereunder and the Lessee shall remain liable for payment of
the rent herein reserved, less the net amount received by the Lessor from
reletting (after the deduction of any expenses incident to such possession and
reletting). The Lessee shall, upon the expiration or termination of this Lease
for any reason whatsoever, surrender to the Lessor the building and building
equipment then upon the Premises, together with all alterations and replacements
thereof then on the Premise, in good order, condition and repair, except for
damage due to reasonable wear and tear, casualty other than a casualty caused by
Lessee's negligence, or condemnation. Except as provided in Paragraph 12, title
to all of the Lessee's trade fixtures, furniture and equipment shall remain in
the Lessee, and, upon expiration on other termination of this Lease, the same
shall be removed and any resultant damage to the Premises shall be repaired by
and at the expense of the Lessee; provided, however, that if, upon any
expiration or termination of this Lease, the Lessee shall be delinquent or in
default under any provisions hereof, the Lessee shall not, without the Lessor's
consent expressly given in writing, be entitled to remove any such trade,
fixtures, furniture or equipment unless and until such delinquency or default
shall have been cured, and if such delinquency or default shall have been cured,
and if such delinquency or default shall not have been cured by the Lessee in
thirty (30) days after the date of such expiration or termination, all such
trade fixtures, furniture and equipment of the Lessee shall, at the Lessor's
option be and become the absolute property of the Lessor. Lessor shall, upon
Lessee's request and subject to Lessee being in full compliance with all terms,
conditions and agreements in this Lease, execute such landlord waivers as Lessee
may reasonably request regarding Lessee's trade fixtures and personal property
which are consistent with the terms of this Lease.

         21. TENURE AT EXPIRATION. If the Lessee shall occupy Premises with the
consent of the Lessor after the expiration of the Lease, or any extension
thereof, and the rent is accepted from said Lessee, such occupancy and payment
shall be construed as an extension of this Lease for the term of one (1) month
only from the date of such expiration, and occupation thereafter shall operate
to extend the term of this Lease for one (1) month at a time, unless other terms
of such extension are endorsed hereon in writing and signed by the parties
hereto. If such occupancy continues without the consent of the

                                       10
<PAGE>

Lessor, Lessee shall pay to Lessor as liquidated damages one hundred fifty
percent (150%) of the amount of rent specified in this Lease for the first sixty
(60) days which Lessee retains possession of the Premises, or any part thereof,
after termination of the term by lapse of time or otherwise, and thereafter the
liquidated damages shall be double of the rent specified in the Lease. Lessor's
receipt of such liquidated damages shall not be construed as a consent to
Lessee's holdover.

         22. LESSOR'S REMEDIES. SECURITY AND COSTS IN ACTION. Upon Lessee's
failure to pay any installment of rent or other charges when due or if Lessee
shall fail to observe and perform any of the other conditions, agreements, or
provisions of this Lease, it shall be lawful, upon compliance with the
applicable notice requirements (which shall be 10 days for monetary defaults and
30 days for nonmonetary defaults) and without legal process, for Lessor to
accelerate Lessee's obligations under the Lease, re-enter and repossess
Premises, to remove all persons therefrom and to take exclusive possession of
and remove all property therefrom, and any and all rights of Lessee as a tenant
shall immediately cease and terminate. All property of Lessee which may be at
any time during the term of this Lease in or upon Premises, whether exempt from
execution or not, shall be bound by and subject to a lien for the payment of the
rent herein reserved and for any damages arising from any breach by Lessee of
any of the covenants or agreements of this Lease to be performed by Lessee. In
case default be made in the payment of any installment of rent or other charges,
or any part or parts thereof, when the same becomes due, and if said default
continues for ten (10) days after written notice thereof be given by Lessor to
Lessee, Lessor may take possession of said property or any parts or parts
thereof and sell or cause the same to be sold at public or private sale, with or
without notice, to the highest bidder for cash, and apply the proceeds of said
sale toward the costs thereof and then toward the debt and/or damages as
aforesaid. The remedies set forth in this article shall be in addition to any
and all other rights and remedies of Lessor, either under the terms of this
Lease or otherwise. The provisions hereof shall not, however, be construed so as
to prevent Lessee from conducting his business in a normal way prior to default
hereunder. The failure on the part of the Lessor to reenter or repossess the
Premises or to exercise any of his rights hereunder upon any default, shall not
be deem a waiver of any of the terms and conditions of this Lease and shall not
preclude the Lessor from exercise of any such rights upon any subsequent
occurring default or defaults. Lessor shall be entitled to all rights at law or
in equity, including rights of sale under the Missouri Uniform Commercial Code,
and to recover damages for failure to pay on any breach of this Agreement,
including court costs and reasonable attorneys' fees. Lessee expressly waives
any common law requirements of notices and procedures as to forfeitures of
leasehold interests, and agrees that the terms of this agreement shall govern.

         23. DECLARATION OF FORFEITURE. Any failure to pay each month's rent or
other charges when due, or to keep and perform any of the covenants or
agreements herein by Lessee shall produce a forfeiture of this Lease, provided
Lessor must give Lessee at least ten (10) days' prior written notice of a
monetary default or thirty (30) days' prior written notice of a nonmonetary
default and opportunity to cure, unless the nature of the alleged nonmonetary
default requires more than thirty (30) days to cure, in which case Lessee shall
be granted such reasonable time as is necessary to cure as long as

                                       11
<PAGE>

Lessee has undertaken and diligently proceeded to cure the default. If at the
expiration of said time Lessee is still in default, said forfeiture shall be in
full force and effect. No waiver of any forfeiture by acceptance of rent or
otherwise shall waive any subsequent cause of forfeiture or breach of the terms
and conditions of this Lease, nor shall any consent by said Lessor to any
assignment of the Premises, or any part thereof, or if Lessee shall sublet
Premises or any part thereof, be held waived or release said Lessee or any
assignee or sublessee from any of the foregoing conditions or convenants as
against it or them, but said Lessee or any assignee or sublessee shall be
expressly subject thereto. Before Lessee may declare Lessor in default in its
obligations hereunder, it must give Lessor thirty (30) days' prior written
notice and opportunity to cure, unless the nature of the alleged default
requires more than thirty (30) days to cure, in which case Lessor shall be
granted such reasonable time as is necessary to cure as long as Lessor has
undertaken and diligently proceeded to cure the default.

         24. WAIVER OF BREACH NOT WAIVER OF SUBSEQUENT BREACHES. To be valid a
waiver must be in writing and executed by the party making the waiver. Any
waiver by the Lessor or the Lessee of any breach of this Lease or any terms,
conditions or promises herein contained shall not be or be construed to be a
waiver of any subsequent breach of the same or any other term, condition or
promise herein, and the payment of rent hereunder by the Lessee and acceptance
by the Lessor shall not be or be construed to be a waiver of any breach of the
terms, conditions or promises herein, except as to the particular installment of
rent so paid and accepted.

         25. BANKRUPTCY AND FORFEITURE. To more effectually secure the Lessor
against loss of the rent and other payment herein provided to be made by Lessee,
it is agreed as a further condition of this Lease that the filing of any
petition in bankruptcy or insolvency by or against the Lessee, or the
adjudication in bankruptcy of the Lessee or the appointment of a receiver for
Lessee by any court shall be deemed a breach of this Lease, and thereupon,
without entry or other action by the Lessor, this Lease shall become and be
terminated; and notwithstanding any other provisions of this Lease, the Lessor
shall forthwith upon such termination be entitled to recover the rent reserved
in this Lease for the term hereof, less the fair rental value of the Premises
for the remainder of the term.

         26. NON-LIABILITY OF LESSOR. It is agreed that Lessor shall not be
liable to Lessee or any other person on the Premises for any damage either to
person or property, except for Lessor's willful conduct or gross negligence.
Lessor shall not be under any responsibility or liability in any way whatsoever
for the quality, quantity, impairment, interruption, stoppage, or other
interference with the services involving water, heat, gas, electric current,
sewer telephone or other services by any public utility.

         27. SUBORDINATION, ATTORNMENT, NON-DISTURBANCE. This Lease shall be
subject and subordinate to any mortgage, deed of trust or other security devise
now or hereafter placed by Lessor upon the real property of which the Premises
are a part and to all renewals, modification, consolidations, replacements and
extensions thereof ("Security Devises"), provided that Lessee obtains from the
holder and beneficiary of any such Security Devise a Non-Disturbance Agreement
in form and substance reasonably

                                       12
<PAGE>

satisfactory to Lessee. Upon Lessor's written request, Lessee shall within five
(5) days, execute, acknowledge and deliver to Lessor a written statement
certifying that the Lease is unmodified (or if modified, describing same) and in
full force and effect, the date to which rents are paid and setting forth any
alleged defaults of Lessor. Said statement may be relied upon by Lessor, its
agents, lenders and purchasers. Upon Lessee's written request, Lessor shall
within five (5) days, execute, acknowledge and deliver to Lessee a written
statement certifying that the Lease is unmodified (or if modified, describing
same) and in full force and effect, the date to which rents are paid and setting
forth any alleged defaults of Lessee. Said statement may be relied upon by
Lessee, its agents, lenders and purchasers. Subject to Lessee's receipt of a
Non-Disturbance Agreement, Lessee agrees to attorn to Lender or any other party
who acquires ownership of the Premises by reason of a foreclosure of a Security
Device, and that in the event of such foreclosure, such new owner shall not be
liable for any act of omission of any prior lessor or with respect to events
occurring prior to acquisition of ownership, or be subject to any offsets or
defenses which Lessee might have against any prior lessor.

         28. NOTICE. All notices for which provision is made under the Lease
shall be in writing. Any notice from the Lessor to the Lessee shall be deemed to
have been given in a proper manner if such notice is in writing addressed to the
Lessee at the Premises, deposited in the United States mail, with postage
prepaid, and sent by Registered or Certified mail, return receipt requested. Any
notice from the Lessee to the Lessor shall be deemed to have been given in
proper manner if such notice is in writing addressed to the Lessor at the
address of Lessor to which rent is paid, or at such other address as Lessor may
have designated by written notice to the Lessee, with postage prepaid, deposited
in the United States mail, and sent by Registered or Certified mail, return
receipt requested. The addresses of the parties are as follows:

                            Lessor:

                            C.R. Wehr, Jr.
                            Wehr, Wehr, Johnson & Bridgeforth
                            1915 W. Sunshine
                            Springfield, MO 65807

                            Lessee:

                            GuildMaster, Inc.
                            P.O. Box 10725
                            Springfield, MO 65808

         29. HEIRS AND ASSIGNS. The words "Lessor" and "Lessee" as used herein,
include, apply to and bind and benefit the heirs, executors, administrators,
successors and assigns of the Lessor and Lessee, subject to the provisions of
Paragraph 11.

                                       13
<PAGE>

         30. AMENDMENTS. This Agreement may be amended only by written
instrument by all of the parties hereto.

         31. ATTORNEYS' FEES. In the event that litigation or arbitration arises
involving this Lease, the prevailing party shall be entitled to recover
reasonable attorneys' fees and expenses. In addition, if the Lessee breaches a
term, condition or agreement under this Lease, Lessor shall be entitled to
attorneys' fees and expenses incurred in the preparation and service of notices
of breach and consultation with Lessor regarding the breach, whether or not a
legal action is subsequently commenced in connection with such breach.

         32. GOVERNING LAW. This Agreement shall be governed by and construed
under the laws of the state in which the Premises are located.

         33. HEADINGS. The headings used herein are for reference purposes only
and shall not be used to construe or interpret the meaning of this Lease.

         34. SURVIVAL OF INDEMNIFICATION. The obligations of either party to
indemnify the other party as provided in this Lease shall survive the
termination or expiration of this Lease.

         THIS LEASE CONSISTS OF FIFTEEN (15) PAGES, INCLUDING THE PAGE ON WHICH
THESE SIGNATURE APPEAR THREE (3) EXHIBITS DESIGNATED AS A, B AND C, ATTACHED
HERETO.

         IN WITNESS WHEREOF, the parties have hereunto affixed their respective
names intending to be legally bound.

                                     LESSOR:

                                     C.R. Wehr, Jr.

                                     /s/ C.R. Wehr, Jr.
                                     -------------------------

                                     LESSEE:

ATTEST:                              Guildmaster, Incorporated

/s/ James K. Parsons                 By: /s/ Jon Baker
---------------------                -----------------------------
Secretary                            Title:  President

                                       14
<PAGE>

STATE OF MISSOURI       )
                        )ss.
COUNTY OF GREENE        )

         BEFORE ME, the undersigned, a notary public in and for the aforesaid
county and state, personally appeared C.R. Wehr, Jr., known to be the Lessor and
the same person who executed the foregoing Lease Agreement as her free act and
deed.

         IN WITNESS WHEREOF, I have hereunto set my hand and affixed my notarial
seal this 27th day of September 1996.

                                               /s/ Teri Deann Cobb
                                             -------------------------
                                             NOTARY PUBLIC
 My appointment expires:
     11/15/96                                Teri Deann Cobb       Notary Public
                                             Greene County     State of Missouri
                                             My commission Expires Nov. 16, 1996

STATE OF MISSOURI   )
                    )ss.
COUNTY OF GREENE    )

         BEFORE ME, the undersigned, a notary public in and for the aforesaid
county and state, personally appeared Jim Parsons, known to me to be the
President, of Guildmaster, Inc. and the same person who executed the foregoing
Lease Agreement as his free act and deed.

         IN WITNESS WHEREOF, I have hereunto set my hand and affixed my notarial
seal this 27th day of September 1996.

                                               /s/ Teri Deann Cobb
                                             -------------------------
                                             NOTARY PUBLIC
 My appointment expires:
     11/15/96                                Teri Deann Cobb       Notary Public
                                             Greene County     State of Missouri
                                             My commission Expires Nov. 16, 1996

                                       15Exhibit 10.17

NORTH CAROLINA     )
                   )
GUILFORD COUNTY    )                        FURNITURE SHOWROOM LEASE

THIS LEASE,  dated June 23, 1997, and between Phoenix Home Life Mutual Insurance
Company,  a New York company,  formerly  known as Phoenix  Mutual Life Insurance
Company,  a Connecticut  company,  hereinafter  referred to as ("Landlord")  and
GuildMaster,   Inc.,  a  Missouri   corporation,   hereinafter  referred  to  as
("Tenant").

                                    RECITALS

         IN CONSIDERATION of mutual covenants  contained  herein,  including the
payment of rent,  Landlord  hereby  leases to Tenant and Tenant hereby lets from
Landlord the space described herein.

         1.  DESCRIPTION OF PREMISES:  Landlord owns, in fee simple,  a showroom
building known as the Commerce and Design Building (the  "Building")  located at
201 W. Commerce Street, High Point, Guilford County, North Carolina,  consisting
of total gross area of  approximately  257,180 square feet, more fully described
on Exhibit "A" attached hereto and made a part hereof.

         The premises leased hereunder (the "Premises") consist of approximately
8,593  rentable  square feet  including  7,161  useable  square feet as shown on
Exhibit  "B"  attached  hereto and made a part  hereof.  Tenant's  proportionate
percentage  of the  Building  is 4.04%  ("Rentable"  Square  Footage = "Useable"
Square Footage x 1.2 Common Area Premium factor. Tenant's percentage of Building
is computed by dividing  8,593  (Tenant's  Rentable  Square  Footage) by 212,828
(Total Building Rentable Square Footage).  The Premises are known as Suites 1A,B
as outlined in "red" on the aforementioned Exhibit "B".

         2.  TERM:  The term of this  Lease  shall  commence  on May 1, 1997 the
"Commencement  Date" and end on April 30, 2002, with no further specific options
to renew the Lease beyond this date (the "Termination Date").

         3. BASE RENT:  Tenant  shall pay Base Rent for the  Premises in advance
without prior offset or deduction as follows: $8,235.00 shall be due and payable
on the first day of each month  beginning  May 1, 1997 and ending April 1, 2002.
Total unadjusted Base Rent payable during the Term shall be $494,100.00.

         4. OMITTED

                                       1
<PAGE>

         5. USE,  OCCUPANCY AND  ACCEPTANCE  OF PREMISES:  (a) use. The Premises
snail be used by Tenant only as a showroom  for the display  and  exhibition  of
home furnishings,  furniture,  accessories,  and allied lines of merchandise and
for no other use. (b) Operation During Markets.  Tenant shall open the Premises,
exhibit its  products,  and staff the  Premises  with  employees  for the entire
period of each regularly  scheduled Market.  For purposes of this Lease,  Market
shall mean the Furniture Market in High Point, NC and dates determined  therefor
by the International  Home Furnishings  Marketing  Association.  (c) Compliance.
Tenant will not use or occupy the Premises in an unlawful or offensive manner or
in  violation  of the  Building's  Certificate  of  Occupancy or contrary to any
insurance carrier insuring the Building. (d) Acceptance of Premises.  Tenant has
inspected the Building and Premises and accepts them "AS IS".  Landlord makes no
representations  as to the  condition  of the  Building or Premises and Tenant's
possession of the Premises  shall be  conclusive  evidence that the Building and
Premises'  were in  satisfactory  condition.  (e)  Delivery  of  Possession.  If
Landlord is unable to deliver  possession  of the  Premises on the  Commencement
Date because of the holding over or retention of  possession by any other tenant
or occupant or if the Premises or a portion of the Building wherein the Premises
are situate is being constructed,  renovated,  repaired, altered or improved, or
for any other reason beyond the reasonable  control of Landlord,  Landlord shall
be subject to liquidated damages for failure to give possession on said date and
the Base Rent payable  hereunder  shall be abated  (provided  that Tenant is not
responsible  for  Landlord's  inability  to  deliver  possession),  until  after
Landlord shall have given Tenant notice that the Premises are ready for Tenant's
occupancy.  For each  day of  delay.  Landlord  shall be  liable  to pay  Tenant
liquidated  damages of  $10.00.  If the delay  extends  to thirty  (30) days the
Tenant shall have the right to annul the Lease.

         6. LATE PAYMENT OF RENT: (a) If Tenant fails to timely pay Base Rent or
any items of Additional Rent (as hereinafter  defined),  then Tenant shall pay a
"Late  Payment of Rent" Charge  equal to the greatest of (1) the maximum  lawful
charge,  (2) Twenty  ($20.00)  Dollars for each day that such Rent or Additional
Rent is  overdue  or (3) Five  (5%) per cent per  month of the  overdue  amount.
Tenant agrees that such late charge  constitutes a fair and reasonable  estimate
of the additional processing,  accounting and other costs Landlord will incur as
a result of Tenant's  late  payment.  In any such event,  Tenant  shall pay such
charge  immediately upon receipt of written request therefor  Landlord's failure
to render any such statement shall not be deemed a waiver of Landlord's right to
collect such past due Rent and/or Additional Rent and the amount of such Charge.
If Landlord  places the  enforcement of the Lease or the collection of any Rent,
Additional  Rent or charge due  hereunder  in the hands of an  attorney,  Tenant
shall pay  Landlord's  reasonable  attorney's  fees.  (b) Any check  remitted to
Landlord that fails to "clear" in the banking process for any reason whatsoever,
unless  caused by Landlord,  will cause a $25.00  service  charge to be added to
Tenant's account as additional Rent.

         7. QUIET  ENJOYMENT:  Landlord  covenants  that Tenant,  upon paying to
Landlord  the Rent and  Additional  Rent and other  sums  stipulated  herein and
performing  the covenants and  agreements  herein,  shall  peaceably and quietly
have, hold and enjoy the Premises and all rights,  easements,  appurtenances and
privileges  belonging  or  appertaining  thereto,  during  the full term  hereby
granted and any extensions or renewals thereof.

         8. COMMON AREAS: (a) Common areas are all the areas of the Building and
Land other than the Premises and space rented or to be rented to other  tenants.
Landlord  reserves  the right,  from time to time,  to alter said  common  areas
including converting common areas into leasable areas,  increasing or decreasing
the common areas, to exercise  control and management of the common areas and to
establish,  modify, change and enforce such Rules and Regulations as Landlord in
its sole  description may deem deskable for the management of the Building.  (b)
Landlord  shall have the right to  restrict  or close all or any  portion of the
common  areas at such times and for such  periods as may,  in the sole option of
Landlord,  be necessary or  appropriate to prevent a dedication  thereof,  or to
preserve the status thereof as private  property,  or to prevent  accrual of any
rights in any person,  and Landlord  may also close and or restrict  said common
areas for  purposes of  maintenance  and repair as may be required  from time to
time, as determined solely by Landlord. Tenant acknowledges that such activities
may  result in an  inconvenience  to Tenant but such  activities  shall not give
Tenant the right to withhold,  abate or reduce its Rent or  Additional  Rent nor
anyother way affect this Lease.

                                       2
<PAGE>

         9. ASSIGNMENT AND SUBLETTING: (a) Tenant agrees not to sublet or assign
this Lease or any portion  thereof without the prior written consent of Landlord
in each instance which will not be unreasonable  withheld.  If Tenant proposes a
sublet for Landlord's  approval,  such sublet must conform to Landlord's  sublet
policy as may be  periodically  changed.  Tenant  acknowledges  and agrees  that
Landlord's  sublet  policy may provide  for,  among other  things,  selection of
subleases  from a waiting list,  direct  billing by Landlord,  use of Landlord's
forms, the imposition of a sublet fee and retention by Landlord of any excess of
monies payable under a sublease over the Rent and Additional  Rent payable under
this  Lease.  In the  event of a  sublet  or  assignment.  Tenant  shall  remain
primarily liable for payment and performance of all of its obligations hereunder
despite Landlord's acceptance of rent from the subtenant or assignee.

         10.  LANDLORD'S  REPAIRS:  Landlord,  at its  expense,  shall  keep and
maintain the Common Areas and its fixtures,  appurtenances  and Service  Systems
(to the extent that same serve the  Premises and only up to the point where such
Service  Systems  enter the  Premises) in  reasonable  working order and repair.
However.  Landlord shall not be responsible  for such  maintenance or repairs if
the same are  required as a result  solely of the  negligence  or willful act of
Tenant or its clients,  customers,  licensees,  assignees,  agents, employees or
invitees  and  further,  in any such  event,  the cost of such  maintenance  and
repairs  shall be the sole  responsibility  of  Tenant  as  Additional  Rent and
payable  within  fifteen (15) days of Tenant's  receipt of Landlord's  statement
therefor.

         11. TENANT'S REPAIRS;  ALTERATIONS:  (a) Tenant covenants and agrees at
its sole cost and  expense,  to keep and maintain the  Premises,  including  the
fixtures,  equipment,  service systems and appurtenances therein, in a condition
of good  repair,  proper  cleanliness,  orderliness  and a state  of  attractive
appearance  at all times during the term hereof.  Nothing  herein shall  require
Tenant to make structural repairs to the Premises unless such structural repairs
are required as a result  solely of the  negligence  or willful act of tenant or
its clients, customers,  licensees,  assignees, agents; employees or invitees or
required by  governmental  law or ordinance and, in any such event,  the cost of
such structural repairs so required shall be the sole  responsibility of Tenant.
(b) Tenant shall submit to Landlord for  Landlord's  prior written  approval all
plans  and  specifications  for  any  alterations,   additions  or  improvements
(hereafter  "Changes")  which  Tenant  wants to make to the  Premises.  All such
Changes shall be made in accordance with all applicable city, county,  state and
federal laws and  ordinances,  and  building  and zoning rules and  regulations,
including without  limitation receipt of any necessary  governmental  approvals.
Maintenance  and repairs for any or all Changes  made to the  Premises by Tenant
shall be the sole  responsibility  of  Tenant.  Tenant  shall be liable  for all
damages or  injuries  which may result to any person or property by reason of or
resulting  from any Changes  made by it to the  Premises  and Tenant  shall hold
Landlord  harmless with respect  thereto.  Prior to commencing any such Changes,
Tenant shall  deliver to Landlord an indemnity  agreement  and Lien Waivers duly
executed by all contractors, subcontractors and materialmen in form satisfactory
to  Landlord.  In  addition,  Tenant  shall  deliver to Landlord  written  proof
satisfactory to Landlord that such contractors,  subcontractors  and materialmen
are duly licensed and maintain such insurance  coverage,  naming  Landlord,  its
managing agent and  Landlord's  mortgagee,  if any, as insured,  as Landlord may
require.  (c) If Tenant fails to perform Tenant's  obligations under this Lease.
Landlord may at its option,  without  prejudice to  Landlord's  other rights and
remedies,  enter upon the Premises  after ten (10) days prior written  notice to
Tenant,  perform  such  obligations  on Tenant's  behalf,  and the cost  thereof
together  with  interest at one (1) per cent per month  thereon shall become due
and  payable  as  Additional  Rent  to  Landlord  together  with  Tenant's  next
installment  of  Base  Rent.  (d)  Any  Changes  by  Tenant,  including  without
limitation  wiring  and  lighting  fixtures  (except  show  samples  and  office
furniture  of Tenant),  shall be and become the  property of Landlord  and shall
remain upon the Premises at the  termination or expiration of this Lease without
compensation to Tenant; provided,  however.  Landlord may, at it option, require
Tenant to remove such improvements,  alterations or additions and to restore the
Premises as same existed at the  beginning of the term of this Lease.  Provided,
further.  Tenant shall be liable for any damages to the Premises  occasioned  by
the removal of Tenant's  property  from the  Premises,  and any changes  made by
Tenant to the Premises.

         12.  SUBORDINATION  AND  ATTORNMENT  (a) Tenant  agrees that this Lease
shall be  subject  and  subordinate  to any  mortgages  or deeds of trust now or
hereafter placed upon the Premises and to all modifications  thereto, and to all
present and future  advances  made with respect to any such  mortgage or deed of
trust. This clause is self-operative. Nevertheless, Tenant agrees at any time to
execute  any  and  all   documents   requested   by  Landlord  to  confirm  this
subordination.  Tenant agrees to attorn to the mortgagee, trustee,or beneficiary
under any such  mortgage or deed of trust or the purchaser at a sale pursuant to
the foreclosure  thereof. In the event of the sale,  assignment,  or transfer by
Landlord  of its  interest  in the  Premises  to a  successor  in  interest  who
expressly  assumes  the  obligations  of  Landlord  hereunder,   Landlord  shall
thereupon be released and discharged  from all of its covenants and  obligations
hereunder,  except such  obligations  which shall have accrued prior to any such
sale, assignment, or transfer; and Tenant agrees to look solely to any successor
in interest of Landlord  for  performance  of any such  obligations.  (b) Tenant
agrees that the

                                        3
<PAGE>

liability of Landlord Under this Lease, and all matters or things  pertaining to
or arising out of the tenancy and/or the use and occupancy of the Premises shall
be limited  solely to Landlord's  interest in the Building in which the Premises
form a part,  as it exists at the  Commencement  Date.  In no event shall Tenant
make claim of damage  against,  or seek to impose or satisfy  any  liability  of
Landlord against any other property,  building,  or assets which Landlord or any
of its  officers,  directors or  employees,  agents or  representatives  have an
interest in.

         13. CONDEMNATION: If the whole of the Building, or such portion thereof
as will make the Premises unusable for the purposes referred to herein, shall be
condemned by any legally  constituted  authority  for any public use or purpose,
then in either of said events the Term hereby  granted shall cease from the time
when possession thereof is taken by the condemning  authority,  and rental shall
be adjusted between Landlord and Tenant as of that date.

         14.  RIGHT OF LANDLORD  TO ENTER:  Tenant  agrees that  Landlord or its
agents may at all  reasonable  times enter upon the  Premises for the purpose of
inspection  or repair of the  Building  or the  Building  systems and such other
purposes as Landlord may deem necessary or proper for the reasonable  protection
of  Landlord's  Interest in the  Premises.  In additions  Landlord may enter the
Premises  at all  reasonable  times  to  exhibit  the  Premises  to  prospective
purchasers and lenders.  During the three (3) months  immediately  preceding the
final  expiration of the Term or any renewal.  Landlord may exhibit the Premises
to prospective tenants and/or affix a notice that the Premises are for rent.

         15. TAXES: (a) Landlord agrees to pay all such taxes lawfully levied or
assessed  against the  Building  and Land except any taxes  attributable  to the
operation of Tenant's business or Tenant's property (b) Tenant agrees to pay all
license,  privilege,  ad valorem or other charges levied,  charged,  or assessed
against  Tenant or Landlord on account of the operation of Tenant's  business in
the Premises and on account of property owned by Tenant.

         16.  INSURANCE:  (a) Landlord's  Insurance.  Landlord agrees to keep in
force policies of fire and extended  coverage  insurance  which shall insure the
Building against such perils or loss as Landlord deems  appropriate in an amount
reasonably  determined  by Landlord.  (b) Tenant's  Insurance.  Tenant agrees to
maintain and keep in force, at it expense throughout the term hereof,  insurance
against fire and such other risks as are from time-to-time  included in standard
extended  coverage  endorsements  including  vandalism and  malicious  mischief,
insuring Tenant's stock-in-trade, trade fixtures, furniture,  furnishings, floor
and wall coverings,  special  equipment and all other items of personal property
of Tenant located on or within the Premises and all such other  improvements  as
are made by Tenant to the  Premises.  Tenant shall  furnish to Landlord  current
certificates   evidencing  Tenant's   maintenance  of  such  insurance  policies
throughout  the term hereof and prior to taking  possession of the Premises.  In
addition to the  policies of fire and extended  coverage  insurance ` to be kept
and  maintained by Tenant  pursuant to this  paragraph;  Tenant shall obtain and
keep in force  during  the term  hereof  and any  extension  or  renewal  terms,
policies of comprehensive  general liability  insurance  providing  coverage for
bodily injury,  liability and property  damage with combined single limits of at
least Five Hundred Thousand ($500,000.00)  Dollars. In addition thereto.  Tenant
shall provide "umbrella  coverage" in the amount of One Million  (x1,000,000.00)
Dollars.  Tenant shall in addition,  name Landlord,  Landlord's  managing agent,
Landlord  mortgagees(s) and any other person,  firm or corporation  specified by
Landlord,  as insured under such liability policies and shall provide Landlord a
certificates  evidencing  of same within thirty (30) days after the execution of
this Lease or prior to  occupancy,  whichever is sooner.  Such  certificates  of
insurance shall provided that the policy cannot be canceled  without thirty (30)
days prior written notice to Landlord. Tenant agrees to waive any and all rights
of  subrogation  which may be  exercised by its  insurance  carrier or any other
entity claiming by or through Tenant provided same does not invalidate  Tenant's
Insurance coverage.

         17.  LIABILITY  AND  INDEMNIFICATION.  (a)  Neither  Landlord  nor  any
director, officer, employee, representative or agent of Landlord shall be liable
to Tenant for any injury or damage to Tenant or to any other person,  or for any
damage to. or loss (by theft or otherwise)  of, any property of Tenant or of any
other  person,  regardless of the cause of such injury,  damage or loss,  unless
caused by or due to the sole  negligence  of  Landlord.  Tenant  agrees  that no
property,  other  than such as might  normally  be  brought  upon or kept in the
Premises as an incident to the  reasonable  use of the  Premises for the purpose
herein  permitted,  will be brought upon or be kept in the Premises.  (b) Tenant
shall  indemnify  and save  Landlord  and its  directors,  officers.  employees,
representatives  or agents  harmless from and against any and all claims arising
from (i) the use or manner of use of Tenant in, or the conduct or management of,
the Premises or of any business therein, (ii) any work or thing whatsoever done.
or any condition  created in or about the Premises during the term of this Lease
or during any period of time prior to the Commencement  Date during which Tenant
may have taken  possession  of or been given access to the Premises or (iii) any
negligent  or  otherwise  wrongful  act or  omission  of  Tenant,  or any of its
subtenants  or  licensees,  or of its or their  employees,  agents,  servants or
contractors,  and all  reasonable  cost,  expenses  and  liabilities  (including
attorneys fees) incurred in, or in connection  with, each such claim,  action or
proceeding brought thereon. In case any action or proceeding brought thereon

                                        4
<PAGE>

against Landlord by reason of any such claim, Tenant, upon notice of demand from
Landlord,  shall resist and defend such action or  proceeding  at tenant's  sole
cost and expense.

         18. DAMAGE AND  DESTRUCTION:  (a) In the event the Premises are damaged
by any  peril  covered  by  standard  policies  of fire  and  extended  coverage
insurance to an extent  which is less than fifty  (5056)  percent of the cost of
replacement  of the Premises,  the damage to that portion of the Premises  which
Landlord is obligated to insure pursuant to the immediately  preceding  Article,
shall,  upon  Landlord's  receipt of the insurance  proceeds  covering the same,
promptly be repaired by Landlord,  at Landlord's expense,  but in no event shall
Landlord  be  required  to  repair or  replace  Tenant's  stock-in-trade,  trade
fixtures,  furniture;   furnishings,   special  equipment  and  other  items  of
construction  and personal  property which tenant is required to insure pursuant
to the  immediately  preceding  Article.  In the  event of such  damage  and (i)
Landlord is not required to repair as provided herein,  or (ii) the Premises are
damaged to the extent of fifty (5056) or more of the cost of  replacement of the
Premises,  or (iii) the Building is damaged to the extent of fifty (506) percent
or more of the cost of  replacement,  or (iv) such damage is  twenty-five  (256)
percent or more of the cost of  replacement  of the Premises and the same occurs
during the last year of the initial term or any  extensions  or renewal terms of
this  Lease or (v) in the  event  that  Landlord  shall not  receive  sufficient
insurance  proceeds to complete  such repairs,  then,  in any of such  event(s),
Landlord  may elect  either to repair or rebuild the Premises or the Building as
the case may be, or to terminate this Lease upon giving notice of such election,
in writing,  to Tenant  within  forty-five  (45) days after the happening of the
event causing such damage.  (b) If such damage,  repairing or  rebuilding  shall
render the Premises untenantable. In whole or in part, a proportionate abatement
of the Rent and Additional Rent stipulated herein shall be allowed from the date
such damage  occurs to the date Landlord  completes  the repairs or  rebuilding,
said  proportion  to be  computed on the basis of the  relation  which the gross
leasable area of the space  rendered  untenantable  bears to the gross  leasable
area of the  Premises.  If Landlord is required or elects to repair the Premises
as provided herein,  Tenant shall repair or replace its floor and wall coverings
which Tenant is obligated to insure  pursuant to the terms  hereof,  in a manner
and to at least a condition  equal to that prior to such damage or  destruction;
In addition, Tenant shall repair or replace its stock-in-trade.  trade fixtures;
furniture,  furnishings,  special  equipment and other items of construction and
personal property which Tenant is required to insure pursuant to this Lease in a
manner and to a condition  Tenant deems  appropriate and adequate for conduct of
Its business within the Premises.  In addition,  tenant is hereby given the sole
option by  written  notice to  Landlord  to  terminate  this  Lease in the event
repairing or rebuilding to be effected by Landlord and required hereunder cannot
be  substantially  completed  within  forty-five  (45) days from the date of the
occurrence of the damage or destruction.

         19. PROPERTY OF TENANT: (a) Tenant shall pay to Landlord, as Additional
Rent.  Landlord's  standard  charges (as may be increased from time to time) for
moving all property to and from the Premises;  and Landlord  shall not be liable
to Tenant for any loss by fire,  theft or other  casualty,  or any other  damage
whatsoever  to the  property of Tenant,  whether  situated  upon the Premises or
otherwise,  except for any loss or damage to such  property  resulting  from the
gross  negligence  of  Landlord,   its  employees  or  agents.   (b)  Furniture,
merchandise,  and other bulky objects shall be brought into and removed from the
Building only through the freight entrance and freight  elevators,  and movement
of such objects shall be subject to the reasonable  requirements  of Landlord as
to the time and manner of moving. Such moving shall be at Tenant's sole expense.
No  furniture,  merchandise,  and other bulky  objects  shall be brought into or
removed  from the  Building  during any Market.  (c) Tenant  shall pay  Landlord
standard  charges (as many be increased from time to time) for loading dock use.
(d) Tenant  agrees to pay all such charges and  Additional  Rent within  fifteen
(15) days after receiving written request therefor from Landlord.

         20.  UTILITIES.  ESCALATOR AND ELEVATOR SERVICES (a) Landlord agrees to
furnish air  conditioning.  escalator and elevator service to the Premises for a
period  beginning  thirty (30) days prior to the  commencement of each regularly
scheduled Market, and ending fourteen (14) days following the close of each such
Market.  If Tenant  stores  furniture or other  property  within the Premises or
otherwise  uses the  Premises  other  than 30 days  before the Market or 14 days
after the close of the Market.  Tenant  agrees to pay such charges for utilities
as may be reasonably  imposed by Landlord but not in excess of their  Percentage
of the Building.  Landlord may bill Tenant for such charges at such intervals as
Landlord  may elect and Tenant  agrees to pay same within  Fifteen  (15) days of
receipt of invoice from Landlord. (b) Electricity.  Landlord has provided direct
metering of electricity for Tenant's  Premises.  Landlord will be billed charges
for  electricity  for Tenant's  Premises and shall bill Tenant for such charges.
Tenant  agrees to pay same within  fifteen  (15) days of receipt of invoice from
Landlord.

                                       5
<PAGE>

         22. RULES AND REGULATIONS OF LANDLORD BINDING UPON TENANT: (a) Landlord
has heretofore adopted Rules and Regulations which are Operations Guidelines and
hereafter  interchangeably  referred  to as either  "Rules and  Regulations"  or
"Operations Guidelines". The Operations Guidelines are incorporated by reference
herein  with the same force and effect as if stated  herein and  Landlord  shall
hereafter  be entitled  from time to time to  establish,  new or amend  existing
Rules and Regulations after execution of this Lease. Tenant acknowledges receipt
of  the  current  Operations  Guidelines  and  Tenant,  its  employees,  agents,
representatives,  salesmen,  and other personnel  connected with and involved in
the use and  occupancy of the  Premises,  agree to comply with,  conform to, and
abide by all Operations  Guidelines  (including amendments which Tenant has been
notified  of).  Failure to abide by same shall  constitute a material  breach of
this  Lease.  Landlord's  failure to enforce any of such  Operations  Guidelines
against  Tenant or any other  tenants shall not be deemed a waiver of Landlord's
right to enforce  the same at a later  date.  (b)  Landlord  shall have the sole
right to prescribe the qualifications,  conditions and times of admission to the
Building,  and may limit and restrict  admission to accredited  buyers and their
representatives,  and may make admission  conditional  upon the presentation and
exhibition of such  credentials as Landlord shall prescribe or provide from time
to time.

         23. SECURITY INTEREST: As security for Tenant's performance  hereunder,
Tenant  hereby  grants to  Landlord a security  interest  in all  installations,
samples.  goods,  merchandise,  furniture,  fixtures,  and all other property of
Tenant  situate in the Premises or Building  now owned or hereafter  acquired by
Tenant and Tenant hereby agrees to execute such UCC forms and other  instruments
and  documents as may be required to perfect the  security  interest of Landlord
granted herein. Upon default by Tenant in the payment of Rent of Additional Rent
as provided  herein,  or breach of any other terms or  conditions  of the Lease.
Landlord  may pursue and enforce all rights and  remedies  with  respect to such
property situate on the Premises in addition to its other remedies.

         24.  DEFAULT  BY TENANT (a) In the event  Tenant  shall fail to pay any
installments of Rent or Additional Rent or other amounts owed Landlord when due;
or if Tenant is  adjudicated  as  bankrupt;  or if Tenant  files a  petition  in
bankruptcy  under any  section or  provision  of any  bankruptcy  law;  or if an
involuntary  petition in  bankruptcy is filed  against  Tenant,  and same is not
withdrawn or dismissed  within sixty (60) days from the filing thereof;  or if a
receiver or trustee is appointed for Tenant's  property and the order appointing
such  receiver or trustee  remains in force for thirty (30) days after the entry
of such  order,  or if,  whether  voluntarily  or  involuntarily,  Tenant  takes
advantage  of any debtor  relief  proceedings  under any  present or future law,
whereby the Base Rent or  Additional  Rent or any part thereof is or is proposed
to be, reduced or payment thereof deferred; or if Tenant makes an assignment for
the  benefit of  creditors;  or if  Tenant's  effects  should be levied  upon or
attached  under  process  against  Tenant,  and such levy or  attachment  is not
satisfied  or  dissolved  within  thirty  (30) days after  written  notice  from
Landlord to Tenant to obtain satisfaction  thereof; or if Tenant shall vacate or
abandon the  Premises;  or if Tenant  shall fail to perform or observe any other
covenant,  agreement,  or  condition to be performed or kept by Tenant under the
terms and provisions of this Lease including  without  limitation the Operations
Guidelines,  and such failure  shall  continue  for ten (10) days after  written
notice thereof has been given by Landlord to Tenant; then in any of such events,
Landlord shall have the right,  at the option of Landlords (1) to pursue any one
or more remedies  available to Landlord under North Carolina law;  and/or (2) to
cure such default or defaults at the expense of Tenant without  prejudice to any
other  remedies which Landlord  might  otherwise  have. Any expense  incurred by
Landlord in curing such default  shall bear  interest  thereon at twelve  (1256)
percent per annum, or at such maximum legal rates as permitted by North Carolina
Law,  whichever shall be lower,  to be and become  Additional Rent to be paid by
Tenant  within  fifteen (15) days of written  request  therefor  from  Landlord;
and/or to the extent permitted by law, (3) to re-enter the Premises by force and
dispossess  Tenant and anyone claiming under Tenant,  by summary  proceedings or
otherwise and remove and take complete possession of the Premises and either (i)
declare this Lease  forfeited and the term ended,  and/or (ii) elect to continue
this Lease in full force and effect,  but with the right at any time  thereafter
to declare this Lease  forfeited and the Term ended,  and/or (iii)  exercise any
other remedies

                                        6
<PAGE>

         or maintain any action permitted to Landlord's  pursuant to the laws of
the  State of North  Carolina,  or any  other  applicable  laws.  Tenant  hereby
covenants  in the  event  of  Landlord's  re-entry  for  itself  and all  others
occupying the Premises  under Tenant,  to peacefully  yield up and surrender the
Premises to Landlord.  Should Landlord declare this Lease forfeited and the term
ended.  Landlord  shall be  entitled  to recover  from Tenant the rental and all
other sums due and owing by Tenant to the date of termination,  plus the cost of
curing all of Tenant's defaults existing at or prior to the date of termination,
plus the deficiency,  if any.  between  Tenant's rental hereunder and the rental
obtained  by Landlord  on another  lease for the  balance of the Term  remaining
under the Lease.  Should  Landlord,  following  default as  aforesaid.  elect to
continue this Lease in full force,  Landlord shall use its reasonable efforts to
rent the  Premises  for such term and rental as Landlord  shall deem  advisable.
Tenant shall remain liable for all Rent including  increases and Additional Rent
and other charges and costs  imposed on Tenant  herein,  in the amounts,  at the
times and upon the  conditions  as herein  provided,  but Landlord  shall credit
against  such  liability  of Tenant all amounts  received by Landlord  from such
reletting  after  first  reimbursing  itself  for all costs  incurred  in curing
Tenant's  defaults and  re-entering.  preparing and refinishing the Premises for
reletting,  and reletting the Premises,  and for the payment of any  procurement
fee or commission paid to obtain another  tenant,  and for all attorney fees and
legal costs incurred by Landlord.  (b) In addition to the rights and remedies of
Landlord in the event that Tenant commits a default as set forth in subparagraph
(a)  above,  Landlord  shall  also be  deemed  to have a first  right,  security
interest and lien in and to all furniture, fixtures, equipment and personalty in
the Premises,  including without limitation,  all inventory,  and Landlord shall
have the right as Tenant's  attorney-in-fact to execute, deliver and/or file the
appropriate  financing  statements  and all other  instruments  and documents to
perfect  such  first  lien  and  security  interest  of  record  in and to  such
furniture,  fixtures, equipment,  personalty and inventory and to file the same.
It is specifically  understood and agreed that Landlord's  authority as Tenant's
attorney-in-fact  shall be that of an agent,  and coupled  with an interest  and
authorized to execute, deliver and/or file such financing statement and/or other
instruments  and documents and that such agency shall be  irrevocable.  Landlord
shall have the right to pursue and enforce all rights and remedies  with respect
to such  furniture,  fixtures,  equipment,  personalty  and inventory  which are
afforded  by  applicable  law  including  without  limitation  under the Uniform
Commercial Code.  Included in such rights and remedies shall be Landlord's right
to sell such furniture, fixtures, personalty,  equipment and inventory at public
or private sale and/or to retain the same: Landlord shall also have the right as
Tenant's  attorney-in-fact  to  execute,  deliver  and/or file any and all other
documents or instruments which Landlord deems necessary or appropriate to pursue
and enforce such rights and remedies, with Landlord being Tenant's agent coupled
with an interest. Such agency shall be irrevocable.  (c) No re-entry by Landlord
or any action  brought by  Landlord to oust  Tenant or other  occupant  from the
Premises  shall  operate to  terminate  this Lease  unless  Landlord  shall give
written notice of termination to Tenant, in which event Tenant's liability shall
be as above provided.  No right or remedy granted to Landlord herein is intended
to be  exclusive  of any other  right or  remedy,  and each and every  right and
remedy herein provided shall be cumulative and in addition to any other right or
remedy  hereunder to hereafter  existing in law or equity or by statute.  In the
event of termination  of this Lease,  Tenant waives any and all rights to redeem
the Premises given by any statute now in effect or hereafter enacted.

          25. WAIVER OF RIGHTS:  No waiver by Landlord of any  provision  hereof
 shall be  deemed to be a waiver of any  other  provision  or of any  subsequent
 breach by Tenant of the same or any other provision.  Landlord's  consent to or
 approval of any act shall not be deemed to render  unnecessary the obtaining of
 Landlord's  consent  to or  approval  of  any  subsequent  act by  Tenant.  The
 acceptance of Rent or Additional  Rent by Landlord shall not be a waiver of any
 preceding  breach by Tenant of any  provision  hereof other than the failure of
 Tenant to pay the particular Rent or Additional rent so accepted  regardless of
 Landlord's knowledge of said preceding breach at the time of acceptance of such
 payment.  If landlord  accepts any partial payment of Rent or Additional  Rent,
 Landlord  shall not be deemed to have waived  Tenant's  default  hereunder  and
 shall retain all its rights under the Lease for a default by Tenant.

         26. SECURITY DEPOSIT: (a) Tenant has deposited with Landlord the sum of
-0- as security for Tenant's  satisfactory  performance of the terms,  covenants
and conditions of this Lease  including  without  limitation the payment of Rent
and Additional Rent.  Landlord may use, apply or retain the whole or any part of
the security so deposited to the extent required for the payment of any Rent and
Additional Rent or any other sum as to which Tenant is in default or for any sum
which  Landlord  may expend or may be  required to ex-pend by reason of Tenant's
default in respect of any of the terms,  covenants and  conditions of this Lease
including without  limitation any damages or deficiency in the re-letting of the
Premises or other re-entry by Landlord. If Landlord uses, applies or retains the
whole or any part of the  security,  tenant shall  replenish the security to its
original sum within five (5) days after being notified by Landlord of the amount
due.  (b) In the event of a sale or leasing of the  Building or any part thereof
of which the Premises form a part. Landlord shall

                                        7
<PAGE>

have the right to  transfer  the  security  to the buyer or lessee and  Landlord
shall be released by Tenant from all liability for the return of said  security;
and  Tenant  agrees to Hook  solely to the new  Landlord  for the return of said
security  and it is  agreed  that the  provisions  hereof  shall  apply to every
transfer or assignment made of the security to a new landlord.  Tenant covenants
that it shall not assign or  encumber  the  security  deposit  given to Landlord
pursuant to this Lease. Neither Landlord, nor its successors or assigns shall be
bound by any such  assignment  or  encumbrance  or any  attempted  assignment or
encumbrance.  (c) If  Tenant  fully  and  faithfully  complies  with all  terms,
covenants  and  conditions  of this Lease,  any part of the security not used or
retained by Landlord shall be refundable as payment towards final Market.

         27.  NOTICES All notices  provided  for herein  shall be in writing and
shall be deemed to have been given when  deposited in the United  States  mails,
postage  fully  prepaid,   by  certified  or  registered  mail,  return  receipt
requested,  and  directed to the parties  hereto at their  respective  addresses
given below:

LANDLORD:            Phoenix Home Life Mutual Insurance Company
                         c/o H.V. McCoy & Company, Inc.
                         3101 North Elm Street
                         P.O. Box 20847
                         Greensboro, NC 27420

TENANTS              GuildMaster, Inc.
                     P.O. Box 10725 Springfield, Missouri 65808

Landlord may, in addition,  deliver  written  notice to Tenant by hand delivery.
The Parties may  designate a new address to which  subsequent  notices  shall be
directed by giving notice as provided herein.

         28. COMPLIANCE WITH LAWS: Tenant shall promptly execute and comply with
(at its own cost and  expense)  all laws,  ordinances,  rules,  regulations  and
requirements  of any or all  federal,  state and  municipal  authorities  having
jurisdiction  over the Premises and/or the manner in which the Tenant's business
is conducted therein.

         29. SURRENDER:  Upon the termination of this Lease or any extensions or
renewals hereof. Tenant shall surrender the Premises in good and clean condition
and  repair,  excepting  only  normal wear and tear and damage by fire and other
casualty damage covered by insurance and paid to Landlord.

         30.  HOLDOVER:  Tenant  agrees  to notify  Landlord  in  writing  of it
intention to vacate or seek renewal of its Lease at least Ninety (90) days prior
to  expiration  of the Term  hereof.  If Tenant  remains  in  possession  of the
Premises after the expiration or  termination,  Tenant shall be only a tenant at
will, but its occupancy  shall  otherwise be subject to all terms and conditions
of this Lease.  Tenant shall pay per diem rent in an amount equal to one hundred
ten (110%) per cent of the monthly  Base Rent  payable  during the last month of
the  term of the  Lease  prorated  on a daily  basis.  Tenant's  holdover  shall
constitute a default hereunder.

         31.  LIENS:  If Tenant  shall cause any material to be furnished to the
Premises or labor to be performed  thereon or therein.  Landlord shall not under
any  circumstances be liable for the payment of any expenses incurred or for the
value of any work done or material furnished. All such work shall be at Tenant's
expense and Tenant shall be solely and wholly  responsible  to all  contractors,
laborers, and materialmen furnishing labor and material to the Premises. Nothing
herein shall authorize the Tenant or any person dealing  through,  with or under
Tenant to charge the Premises or any interest of Landlord  therein or this Lease
with  any  mechanic's  liens  or  other  lien or  encumbrance  whatever.  On the
contrary, (and notice is hereby given) the right and power to charge any lien or
encumbrance of any kind against Landlord or its successors in interest is hereby
expressly prohibited and denied.

         32. BENEFITS,  BURDENS, AND ENTIRE AGREEMENT: (a) This Lease is binding
on  and  benefits  the  parties  hereto  and  their  respective   heirs,   legal
representatives,  successors.  nominees and assigns.  Throughout  this Lease the
masculine  gender shall be deemed to include the feminine,  the  masculine,  the
singular the plural and plural the singular.  (b) This Lease contains the entire
agreement  between the parties  hereto with respect to the Premises.  This Lease
may not be modified,  altered or amended,  except by a writing,  executed by the
parties hereto or their respective  heirs,  legal  representatives,  successors,
nominee or assigns.

         33.  ATTORNEYS' FEES: If Landlord files an action. or defends an action
involving the enforcement,  application  and/or  interpretation of any agreement
contained in this Lease,  or for breach of any covenant or  condition,  Landlord
shall be reimbursed by Tenant for reasonable attorneys' fees in the action.

         34.  GOVERNING LAWS This Lease shall be governed by and construed under
the laws of the State of North Carolina.  If any provision of the Lease shall be
unlawful such  provision  shall be stricken and shall not  otherwise  affect the
validity of this Lease.

         35. ESTOPPEL CERTIFICATES: Tenant shall execute and deliver to Landlord
upon its occupancy of the Premises,  the certificate  attached hereto as Exhibit
"C".  Furthermore,  Tenant may be required,  from  time-to-time,  to execute and
deliver  to  Landlord   similar   certificates   for  purposes  of  refinancing,
syndication, sale of the Building, etc. It is

                                        8
<PAGE>

understood and agreed that any such  certificate  shall also contain any and all
other  information  as may be required by Landlord's  prospective  lender and/or
purchaser.  In such  event,  Tenant  shall have five  (5)days  from the  receipt
thereof from Landlord to execute and deliver such fully executed  certificate to
Landlord.  Tenant's  failure to execute  said  certificate  shall  constitute  a
default hereunder.

         36.  BROKERAGE  FEES:  Landlord and Tenant  represent to each other and
indemnify  each other from any  potential  claims to the contrary that no broker
has represented either party in respect to this transaction.

         37.  MISCELLANEOUS:  (a) Whenever the scope of any Market exhibition in
the  Building  includes a type of  merchandise  sold by Tenant in the  Premises,
Tenant agrees that  throughout  advertised  business  hours on each business day
during such Market exhibition  period, as established by Landlord,  it will keep
the Premises fully occupied with adequate staff in attendance, lighted, and open
for business  with the products of that season  available  for sale.  (b) Tenant
shall not solicit,  or permit the solicitation on its behalf, of any business in
the  hallways,  corridors and other public  portions of the Building,  or on the
grounds,   parking  areas,   and  sidewalks   surrounding   the  Building.   All
solicitations and sales shall he confined to the Premises.  (c) Additional Rent,
as such term is used herein,  shall consist of all sums due Landlord  other than
Base Rent.

         38. RELATIONSHIP OF THE PARTIES:  The relationship between Landlord and
Tenant is  strictly  that of a lessor and  lessee.  This Lease does not create a
joint  venture,  partnership,  or agency and any act or omission of either party
shall not bind or obligate the other party except as expressly set forth in this
Lease.

         39. WAIVER OF TRIAL BY JURY:  LANDLORD AND TENANT HEREBY WAIVE TRIAL BY
JURY IN ANY ACTION OR PROCEEDING TO WHICH EITHER OF THEM MAY HE PARTIES, ARISING
OUT OF OR IN ANY WAY  PERTAINING  TO  THIS  LEASE.  THIS  WAIVER  IS  KNOWINGLY,
WILLINGLY  AND  VOLUNTARILY  MADE BY TENANT,  AND TENANT HEREBY  REPRESENTS  AND
WARRANTS  THAT NO  REPRESENTATIONS  OF FACT OR  OPINION  HAVE  BEEN  MADE BY ANY
INDIVIDUAL  TO INDUCE  THIS  WAIVER OF TRIAL BY JURY OR TO IN ANY WAY  MODIFY OR
NULLIFY ITS EFFECT.

         40.  ADDITIONAL  SPACES  (a)  Tenant  will have the right to expand the
Leased Premises from time to time to include any adjacent space, including Suite
1G, on the first  floor.  The Tenant may elect to take vacant space at any time,
and may elect to take space which is occupied by another  tenant,  but only upon
not less  than 180  calendar  days  notice  prior  to the date  Tenant  requires
occupancy  of the space.  Provided,  however,  that Tenant  shall not be able to
involuntarily  dispace any presently existing occupant having a lease which does
not allow Landlord to relocate the occupant.  Except as provided in subparagraph
(b) below,  the  additonal  space will be added to the Premises at the same rent
rate per square foot as the rent rate on the space  originally  included  within
the Leased Premises.  (b) In the event that the Landlord  receives a proposal to
lease space (which is  acceptable to Landlord) on the same floor of the Building
as the  Leased  Premises,  upon  proportionally  more  favorable  rent or  other
proportionally  more  favorable  economic  terms,  the Landlord  will notify the
Tenant in writing and the tenant shall have seven (7) calendar days after recept
of such  notice to take the space  upon the same  rent rate and  economic  terms
offered by the third party,  but if the Tenant does not exercise its election to
do so by written  notice to Landlord  within this time period,  the Landlord may
lease the space to the third  party,  subject  to  tenant's  rights set forth in
subparagraph (a) above.

         IN WITNESS  WHEREOF,  the parties  hereto have  executed  this Lease or
caused their duty authorized  officer or  representative to execute same, in two
(2) original counterparts, as of the day and year first above written.

                                   LANDLORD:  Phoenix Home Life Mutual Insurance
                                              Company a New York company

Attests:

                                   By: /s/
----------------------------       -------------------------------------------
                                   DIRECTOR

APPROVED PURSUANT TO ITEM #41
of 11/30/92 REAL ESTATE DIVISION
DELEGATION OF AUTHORITY
                                   TENANT: GuildMaster, Inc.
Attest:                                    a Missouri corporation

/s/ Jim Parsons                         /s/ Jim Parsons
------------------------------     --------------------------------
   Company Officer                        Jim Parsons
   (Corporate Seal)                President                  Title
                                   9/9/97                     Date

                                        9

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