Document:

Exhibit 10.44

            GENERAL BILL OF SALE, ASSIGNMENT AND ASSUMPTION AGREEMENT

     For good and valuable  consideration,  the receipt and sufficiency of which
are hereby acknowledged,  SEDONA WORLDWIDE INCORPORATED,  an Arizona corporation
("Seller"), hereby grants, bargains, sells, transfers, conveys, assigns and sets
over unto ILX RESORTS INCORPORATED, an Arizona corporation ("Buyer") any and all
of Seller's right,  title and interest in and to all personal  property and real
property of Seller, whether tangible or intangible,  including,  but not limited
to, cash, accounts receivable,  inventory,  furniture,  furnishings,  equipment,
fixtures,  improvements,  trademarks,  tradenames and all intellectual  property
assets  owned or used by  Seller in the  conduct  of its  business  prior to the
effective date of this agreement (the foregoing being  collectively  referred to
herein as the  "Property,"  which shall include  without  limitation  all of the
assets set forth on the Balance Sheet,  dated as of December 31, 2001,  attached
hereto as Exhibit "A").

     TO HAVE AND TO HOLD the property  unto Buyer,  its  successors  and assigns
forever. Seller hereby represents and warrants to Buyer that Seller is the owner
of the Property and has full right and authority to sell,  assign,  transfer and
convey the Property unto Buyer; and Seller shall warrant and defend the title to
the Property being conveyed hereby to Buyer against all claims by others.

     Buyer  assumes  and agrees to pay and  perform,  when due,  all of Seller's
obligations  with respect to the Property or as otherwise  described  and/or set
forth as "Liabilities" on Exhibit "A".

     In  addition  to the acts and  agreements  of Seller  and  Buyer  described
herein,  Seller and Buyer  shall  perform,  execute  and  deliver or cause to be
performed,  executed and  delivered  any and all further acts and  agreements as
either  party  hereto  may  reasonably  request of the other to  consummate  the
transactions contemplated herein.

     Seller  will make  available  to Buyer all of  Seller's  files and  records
relating to the Property,  without  representation or warranty as to the content
thereof, except as otherwise specifically provided herein.

                         DATED as of the 2nd day of January, 2002

                              SEDONA WORLDWIDE INCORPORATED,
                              an Arizona corporation

                              By:_________________________________
                                 Mia A. Martori, President

                                   ACCEPTANCE

     Assignee hereby accepts the foregoing transfer and assignment,  and assumes
all obligations,  duties,  responsibilities and liabilities  associated with the
Property or as otherwise  described and or set forth as "Liabilities" on Exhibit
"A".

                         DATED as of the 2nd day of January, 2002

                              ILX RESORTS INCORPORATED

                              By:_________________________________
                                 Joseph P. Martori, ChairmanExhibit 10.18(b)

                    SECOND AMENDMENT TO DVELEOPMENT AGREEMENT

     This Second  Amendment to Development  Agreement  ("Amendment")  is entered
into effective as of October 20, 1999 (the "Effective Date"), by and between TGI
Friday's Inc. ("Franchisor"), and Main St. California, Inc. ("Developer").

                                  WITNESSETH:

     WHEREAS,  Franchisor  and  Developer  are parties to a certain  Development
Agreement  dated April 22,  1998,  as amended by a certain  First  Amendment  to
Development  Agreement  dated  February 10, 1999 (as amended,  the  "Development
Agreement"), pursuant to which Developer was granted the right to develop T.G.I.
Friday's restaurants in portions of Northern California; and

     WHEREAS,  Franchisor and Developer desire to amend and supplement the terms
of the Development Agreement as hereinafter set forth; and

     WHEREAS, capitalized terms used herein shall have the meaning attributed to
them in the Development Agreement unless expressly defined otherwise herein.

     NOW, THEREFORE, in consideration of Ten Dollars and other good and valuable
consideration,  the receipt and sufficiency of which is hereby  acknowledged by
each of the parties hereto, Franchisor and Developer agree as follows:

     1.  SECTION  3.A. of the  Development  Agreement  is hereby  deleted in its
entirety and replaced with the following:

          3.A.  Developer shall develop,  open,  commence  operation of and
     continuously  operate pursuant to the respective  Franchise Agreements
     eighteen  (18)  Restaurants  in  the  Northern  California   Territory
     pursuant to the  Replacement  Development  Schedule  as  follows.  The
     Restaurants  listed  on  the  Replacement   Development  Schedule  are
     exclusive  of those  Restaurants  previously  opened and  operated  by
     Developer under the Original Development Agreement.

               Restaurant No.            Date Open & Operating
               --------------            ---------------------
                    1                          12/15/99
                2, 3, 4 & 5                    12/15/00
            6, 7, 8, 9, 10 & 11                12/15/01
              12, 13, 14 & 15                  12/15/02
                16, 17 & 18                    12/15/03

          (i). The Franchise Agreement for each restaurant location must be
     fully  executed and all franchise fees paid within the time frames set
     forth in the foregoing Development Schedule.

          (ii).  Time  is of the  essence,  with  respect  to  each  of the
     development obligations specified in this Section 3.

                                     1
<PAGE>
     2.  The  provisions,  representations,  terms,  conditions,  covenants  and
agreements of the Development  Agreement,  as modified  hereby,  shall remain in
full force and effect,  enforceable in accordance with its terms. This Amendment
shall be binding upon the heirs, legal  representatives,  successors and assigns
of the parties hereto.

     3. Execution and delivery of this  Amendment  shall not waive any rights or
remedies of the parties under the Development Agreement, at law or in equity.

     IN WITNESS  HEREOF,  the parties have executed this Amendment as of the day
and year first above mentioned.

TGI FRIDAY'S INC.

TGI FRIDAY'S

By: /s/ Leslie Sharman
    ----------------------------------------
Name: Leslie Sharman
      --------------------------------------
Title: Vice President / General Counsel
       -------------------------------------

MAIN ST. CALIFORNIA, INC.

By: /s/ Bart A. Brown, Jr.
    ----------------------------------------
Name: Bart A. Brown, Jr.
      --------------------------------------
Title: President and Chief Executive Officer
       -------------------------------------

                                     2
<PAGE>
                                   EXHIBIT D

                                 THE TERRITORY

NORTHERN CALIFORNIA  TERRITORY -- that area contained in the following counties:
Alameda,  Alpine,  Amador,  Butte,  Calaveras,  Colusa, Contra Costa, Del Norte,
Eldorado,  Fresno, Glenn, Humboldt,  Kern, Kings, Lake, Lassen Trinity,  Madera,
Marin, Mariposa, Mendocino, Merced, Modoc, Monterey, Mono, Napa, Nevada, Placer,
Plumas, Sacramento, San Benito, San Francisco, San Joaquin, San Luis Obispo, San
Mateo, Santa Barbara, Santa Clara, Santa Cruz, Shasta, Sierra, Sisklyou, Solano,
Sonoma, Stanislaus, Sutter, Tehama, Tulare, Tuolumne, Yolo and Yuba.Exhibit 10.21(a)

                    SECOND AMENDMENT TO DEVELOPMENT AGREEMENT

     This Second  Amendment to Development  Agreement  ("Amendment")  is entered
into effective as of November 6, 2001 (the "Effective Date"), by and between TGI
Friday's Inc. ("Franchisor"), and Main St. California, Inc. ("Developer").

                                  WITNESSETH:

     WHEREAS,  Franchisor  and  Developer  are parties to a certain  Amended and
Restated Development  Agreement dated May 2, 1997, and amended February 10, 1999
(collectively,  the  "Development  Agreement"),  pursuant to which Developer was
granted the right to develop T.G.I. Friday's restaurants in portions of Southern
California; and

     WHEREAS,  Franchisor and Developer desire to amend and supplement the terms
of the Development Agreement as hereinafter set forth; and

     WHEREAS, capitalized terms used herein shall have the meaning attributed to
them in the Development Agreement unless expressly defined otherwise herein.

     NOW THEREFORE,  in consideration of Ten Dollars and other good and valuable
consideration,  the receipt an  sufficiency of which is hereby  acknowledged  by
each of the parties hereto, Franchisor and Developer agree as follows:

     1.  SECTION  3.B. of the  Development  Agreement  is hereby  deleted in its
entirety and replaced with the following:

          B.  Developer  shall obtain site  consent,  execute the franchise
     agreement,  pay the franchise fees, develop,  open, commence operation
     of and  continuously  operate  pursuant  to the  respective  Franchise
     Agreements  two (2)  Restaurants  in the  Territory,  pursuant  to the
     Replacement Development Schedule as follows. The Restaurants listed on
     the   Replacement   Development   Schedule  are   exclusive  of  those
     Restaurants  previously  open and  operated  by  Developer  under  the
     Original Development Agreement.

                                             DATE FRANCHISE
                     DATE OF PRELIMINARY    AGREEMENT SIGNED      DATE OPEN &
     RESTAURANT NO.      SITE CONSENT          & FEES PAID         OPERATING
     --------------      ------------          -----------         ---------
           1               3/31/03               6/30/03           12/31/03
           2               3/31/03               6/30/03           12/31/03

          (i).  Time  is of  the  essence,  with  respect  to  each  of the
     development obligations specified in this Section 3.B.

          (ii).  Notwithstanding  the grant of rights herein, the San Diego
     and Los Angeles regions may, at Franchisor's election, be co-developed
     by   Franchisor   with  company   operated   restaurants.   Franchisor
     additionally  reserves  the right to issue  franchises  for  locations
     within the San Diego and Los  Angeles  regions  to third  parties on a
     site specific basis,  without the issuance of a development  territory
     or additional development rights.
<PAGE>
     2.  SECTION  3.C. of the  Development  Agreement  is hereby  deleted in its
entirety.

     3.  The  provisions,  representations,  terms,  conditions,  covenants  and
agreements of the Development  Agreement,  as modified  hereby,  shall remain in
full force and effect,  enforceable in accordance with its terms. This Amendment
shall be binding upon the heirs, legal representatives, successors an assigns of
the parties hereto.

     4. Execution and delivery of this  Amendment  shall not waive any rights or
remedies of the parties under the Development Agreement, at law or in equity.

     5. Developer and its franchisee  companies  hereby  release  Friday's,  its
successors,    assigns,    subsidiaries,    parent   corporation,    affiliates,
representatives, agents, officers, directors, and employees, of and from any and
all  claims,  demands  and  causes of action  whatsoever,  in law or in  equity,
however  claimed to arise,  which they have or may have by reason of any matter,
cause or thing  whatsoever  arising out of or in  ocnnection  with the Franchise
Agreements,  Development  Agreement,  relationships or a course of dealings with
Friday's  as  vendor  of any  goods or as a  Franchisor,  the  operation  of the
Restaurants,  or for any other cause or circumstance  which existed prior to the
date of this Amendment.

     IN WITNESS  HEREOF,  the parties have executed this Amendment as of the day
and year first above mentioned.

TGI FRIDAY'S INC.

By: /s/ Leslie Sharman
    -------------------------------------
Name: LESLIE SHARMAN
      -----------------------------------
Title: SR. VICE PRESIDENT-GENERAL COUNSEL
       ----------------------------------

MAIN ST. CALIFORNIA, INC.

By: /s/ Bart A. Brown
    -------------------------------------
Name: Bart A. Brown, Jr.
      -----------------------------------
Title: CEO
       ----------------------------------

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