Document:

<PAGE>

                                                                   EXHIBIT 10.20

                       STANDARD FORM OF AGREEMENTS BETWEEN
                            OWNER AND DESIGN/BUILDER

                      AIA DOCUMENT A191 - ELECTRONIC FORMAT
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THIS DOCUMENT HAS IMPORTANT LEGAL CONSEQUENCES: CONSULTATION WITH AN ATTORNEY IS
ENCOURAGED WITH RESPECT TO ITS COMPLETION OR MODIFICATION. AUTHENTICATION OF
THIS ELECTRONICALLY DRAFTED AIA DOCUMENT MAY BE MADE BY USING AIA DOCUMENT D401.

Copyright 1985, (C)1996 The American Institute of Architects, 1735 New York
Avenue, NW, Washington, DC 20006-5792. Reproduction of the material herein or
substantial quotation of its provisions without permission of the AIA violates
the copyright laws of the United States and will subject the violator to legal
prosecution.
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                                  1996 EDITION
                                TABLE OF ARTICLES
                                PART 1 AGREEMENT

1.       Design/Builder
2.       Owner
3.       Ownership and Use of Documents and Electronic data
4.       Time
5.       Payments
6.       Dispute Resolution - Mediation and Arbitration
7.       Miscellaneous Provisions
8.       Termination of the Agreement
9.       Basis of Compensation
10.      Other Conditions and Services

                                PART 2 AGREEMENT

1.       General Provisions
2.       Owner
3.       Design/Builder
4.       Time
5.       Payments
6.       Protection of Persons and Property
7.       Insurance and Bonds
8.       Changes in the Work
9.       Correction of Work
10.      Dispute Resolution - Mediation and Arbitration
11.      Miscellaneous Provisions
12.      Termination of the Agreement
13.      Basis of Compensation
14.      Other Conditions and Services

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AIA DOCUMENT A191 - OWNER-DESIGN/BUILDER AGREEMENT - SECOND EDITION - AIA -
(C)1995 THE AMERICAN INSTITUTE OF ARCHITECTS, 1735 NEW YORK AVENUE, NW,
WASHINGTON, DC 20006-5292 - WARNING. Unauthorized photocopying violates U.S.
copyright laws and is subject to legal prosecution. This document was
electronically produced with permission of the AIA and can be reproduced without
violation until the date of expiration as noted below.

                                                   Electronic Format A191 - 1996
                                               User Document: ASPEN - 2/26/2001.
                  AIA License Number 109319, which expires on 1/2/2002 - Page #1

<PAGE>

                       STANDARD FORM OF AGREEMENTS BETWEEN
                            OWNER AND DESIGN/BUILDER

                      AIA DOCUMENT A191 - ELECTRONIC FORMAT
--------------------------------------------------------------------------------
This document comprises two separate Agreements: Part 1 Agreement and Part 2
Agreement before executing the Part 1 Agreement, the parties should reach
substantial agreement on this Part 2 Agreement. To the extent referenced in
these Agreements, subordinate parallel agreement to A191 consist of AIA Document
4491. Standard Form of Agreements Between Design/Builder and Contractor, and AIA
Document B901. Standard Form of Agreements Between Design/Builder and Architect.
--------------------------------------------------------------------------------
                                PART 1 AGREEMENT

                                  1996 EDITION
--------------------------------------------------------------------------------

AGREEMENT
made as of the 26 day of February in the year of 2002
(In words, indicate day, month and year)

BETWEEN the Owner:
(Name and address)
Roger Hurst
8100 Southpark Way, Suite B-1
Littleton, Colorado 80120

and the Design/Builder:
(Name and address)
Urban Construction, Inc.
7437 Village Square Drive, Suite 200
Castle Rock, Colorado  80104

For the following Project:
(Include Project name, location and a summary description)
Aspen Bio Inc.'s new 40,000sf building
Castle Rock, Colorado 80104.
To be comprised of a concrete tilt wall and structural steel frame building.

The architectural services described in Article 1 will be provided by the
following person or entity who is lawfully licensed to practice architecture:

(Name and address)     (Registration Number)     Relationship to Design/Builder)
Robert Hooper AIA              14707                       Employee
--------------------------------------------------------------------------------
Normal structural, mechanical and electrical engineering services will be
provided contractually through the Architect except as indicated below:

(Name and address)     (Registration Number)     Relationship to Design/Builder)
Robert Hooper AIA              14707                       Employee

not applicable

The Owner and the Design/Builder agree as set forth below:

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AIA DOCUMENT A191 - OWNER-DESIGN/BUILDER AGREEMENT - SECOND EDITION - AIA -
(C)1995 THE AMERICAN INSTITUTE OF ARCHITECTS, 1735 NEW YORK AVENUE, NW,
WASHINGTON, DC 20006-5292 - WARNING. Unauthorized photocopying violates U.S.
copyright laws and is subject to legal prosecution. This document was
electronically produced with permission of the AIA and can be reproduced without
violation until the date of expiration as noted below.

                                                   Electronic Format A191 - 1996
                                               User Document: ASPEN - 2/26/2001.
                  AIA License Number 109319, which expires on 1/2/2002 - Page #2

<PAGE>

                     TERMS AND CONDITIONS - PART 1 AGREEMENT

                                    ARTICLE 1
                                 DESIGN/BUILDER

1.1 SERVICES

1.1.1 Preliminary design, budget, and schedule comprise the services required to
accomplish the preparation and submission of the Design/Builder's Proposal as
well as the preparation and submission of any modifications to the Proposal
prior to execution of the Part 2 Agreement.

1.2 RESPONSIBILITIES

1.2.1 Design services required by this Part 1 Agreement shall be performed by
qualified architects and other design professionals. The contractual obligations
of such professional persons or entities are undertaken and performed in the
interest of the Design/Builder.

1.2.2 The agreements between the Design/Builder and the persons or entitles
identified in this Part 1 Agreement, and any subsequent modifications, shall be
in writing. These agreements, including financial arrangements with respect to
this Project, shall be promptly and fully disclosed to the Owner upon request.

1.2.3 Construction budgets shall be prepared by qualified professionals, cost
estimators or contractors retained by and acting in the interest of the
Design/Builder.

1.2.4 The Design/Builder shall be responsible to the Owner for acts and
omissions of the Design/Builder's employees, subcontractors and their agents and
employees, and other persons, including the Architect and other design
professionals, performing any portion of the Design/Builder's obligations under
this Part 1 Agreement.

1.2.5 If the Design/Builder believes or is advised by the Architect or by
another design professional retained to provide services on the Project that
implementation of any instruction received from the Owner would cause a
violation of any applicable law, the Design/Builder shall notify the Owner in
writing. Neither the Design/Builder nor the Architect shall be obligated to
perform any act which either believes will violate any applicable law.

1.2.6 Nothing contained in this Part 1 Agreement shall create a contractual
relationship between the Owner and any person or entity other than the
Design/Builder.

1.3 BASIC SERVICES

1.3.1 The Design/Builder shall provide a preliminary evaluation of the Owner's
program and project budget requirements, each in terms of the other.

1.3.2 The Design/Builder shall visit the site, become familiar with the local
conditions, and correlate observable conditions with the requirements of the
Owner's program, schedule, and budget.

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AIA DOCUMENT A191 - OWNER-DESIGN/BUILDER AGREEMENT - SECOND EDITION - AIA -
(C)1995 THE AMERICAN INSTITUTE OF ARCHITECTS, 1735 NEW YORK AVENUE, NW,
WASHINGTON, DC 20006-5292 - WARNING. Unauthorized photocopying violates U.S.
copyright laws and is subject to legal prosecution. This document was
electronically produced with permission of the AIA and can be reproduced without
violation until the date of expiration as noted below.

                                                   Electronic Format A191 - 1996
                                               User Document: ASPEN - 2/26/2001.
                  AIA License Number 109319, which expires on 1/2/2002 - Page #3

<PAGE>

1.3.3 The Design/Builder shall review laws applicable to design and construction
of the Project; correlate such laws with the Owner's program requirements; and
advise the Owner if any program requirement may cause a violation of such laws.
Necessary changes to the Owner's program shall be accomplished by appropriate
written modification or disclosed as described in Paragraph 1.3.5.

1.3.4 The Design/Builder shall review with the Owner alternative approaches to
design and construction of the Project.

1.3.5 The Design/Builder shall submit to the Owner a Proposal, including the
completed Preliminary Design Documents, a statement of the proposed contract
sum, and a proposed schedule for completion of the Project. Preliminary Design
Documents shall consist of preliminary design drawings, outline specifications
or other documents sufficient to establish the size, quality and character of
the entire Project, its architectural, structural, mechanical and electrical
systems, and the materials and such other elements of the Project as may be
appropriate. Deviations from the Owner's program shall be disclosed in the
Proposal. If the Proposal is accepted by the Owner, the parties shall then
execute the Part 2 Agreement. A modification to the Proposal before execution of
the Part 2 Agreement shall be recorded in writing as an addendum and shall be
identified in the Contract Documents of the Part 2 Agreement.

1.4 ADDITIONAL SERVICES

1.4.1 The Additional Services described under this Paragraph 1.4 shall be
provided by the Design/Builder and paid for by the Owner if authorized or
confirmed in writing by the Owner.

1.4.2 Making revisions in the Preliminary Design Documents, budget or other
documents when such revisions are:

         .1       inconsistent with approvals or instructions previously given
                  by the Owner, including revisions made necessary by
                  adjustments in the Owner's program or Project budget;

         .2       required by the enactment or revision of codes, laws or
                  regulations subsequent to the preparation of such documents,
                  or

         .3       due to changes required as a result of the Owner's failure to
                  render decisions in a timely manner.

1.4.3 Providing more extensive programmatic criteria than that furnished by the
Owner as described in Paragraph 2.1. When authorized, the Design/Builder shall
provide professional services to assist the Owner in the preparation of the
program. Programming services may consist of:

         .1       consulting with the Owner and other persons or entities not
                  designated in this Part 1 Agreement to define the program
                  requirements of the Project and to review the understanding of
                  such requirements with the Owner;

         .2       documentation of the applicable requirements necessary for the
                  various Project functions or operations;

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AIA DOCUMENT A191 - OWNER-DESIGN/BUILDER AGREEMENT - SECOND EDITION - AIA -
(C)1995 THE AMERICAN INSTITUTE OF ARCHITECTS, 1735 NEW YORK AVENUE, NW,
WASHINGTON, DC 20006-5292 - WARNING. Unauthorized photocopying violates U.S.
copyright laws and is subject to legal prosecution. This document was
electronically produced with permission of the AIA and can be reproduced without
violation until the date of expiration as noted below.

                                                   Electronic Format A191 - 1996
                                               User Document: ASPEN - 2/26/2001.
                  AIA License Number 109319, which expires on 1/2/2002 - Page #4

<PAGE>

         3.       providing a review and analysis of the functional and
                  organizational relationships, requirements, and objectives for
                  the Project;

         4.       setting forth a written program of requirements for the
                  Owner's approval which summarizes the Owner's objectives,
                  schedule, constraints, and criteria.

1.4.4 Providing financial feasibility or other special studies.

1.4.5 Providing planning surveys, size evaluations, or comparative studies of
prospective sites.

1.4.6 Providing special surveys, environmental studies, and submissions required
for approvals of governmental authorities or others having jurisdiction over the
Project.

1.4.7 Providing services relative to future facilities, systems, and equipment.

1.4.8 Providing services at the Owner's specific request to perform detailed
investigations of existing conditions or facilities or to make measured drawings
thereof.

1.4.9 Providing services at the Owner's specific request to verify the accuracy
of drawings or other information furnished by the Owner.

1.4.10 Coordinating services in connection with the work of separate persons or
entities required by the Owner, subsequent to the execution of this Part 1
Agreement.

1.4.11 Providing analyses of owning and operating costs.

1.4.12 Providing interior design and other similar services required for or in
connection with the selection, procurement or installation of furniture,
furnishings, and related equipment.

1.4.13   Providing services for planning tenant or rental spaces.

1.4.14 Making investigations, inventories of materials or equipment, or
valuations and detailed appraisals of existing facilities.

                                    ARTICLE 2
                                      OWNER

2.1 RESPONSIBILITIES

2.1.1 The Owner shall provide full information in a timely manner regarding
requirements for the Project, including a written program which shall set forth
the Owner's objectives, schedule, constraints and criteria.

2.1.2 The Owner shall establish and update an overall budget for the project,
including reasonable contingencies. This budget shall not constitute the
contract sum.

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AIA DOCUMENT A191 - OWNER-DESIGN/BUILDER AGREEMENT - SECOND EDITION - AIA -
(C)1995 THE AMERICAN INSTITUTE OF ARCHITECTS, 1735 NEW YORK AVENUE, NW,
WASHINGTON, DC 20006-5292 - WARNING. Unauthorized photocopying violates U.S.
copyright laws and is subject to legal prosecution. This document was
electronically produced with permission of the AIA and can be reproduced without
violation until the date of expiration as noted below.

                                                   Electronic Format A191 - 1996
                                               User Document: ASPEN - 2/26/2001.
                  AIA License Number 109319, which expires on 1/2/2002 - Page #5

<PAGE>

2.1.3 The Owner shall designate a representative authorized to act on the
Owner's behalf with respect to the Project. The Owner or such authorized
representative shall render decisions in a timely manner pertaining to documents
submitted by the Design/Builder in order to avoid unreasonable delay in the
orderly and sequential progress of the Design/Builder's services. The Owner may
obtain independent review of the documents by a separate architect, engineer,
contractor, or cost estimator under contract to or employed by the Owner. Such
independent review shall be undertaken at the Owner's expense in a timely manner
and shall not delay the orderly progress of the Design/Builder's services.

2.1.4 The Owner shall furnish surveys describing physical characteristics, legal
limitations and utility locations for the site of the Project, and a written
legal description of the site. The surveys and legal information shall include,
as applicable, grades and lines of streets, alleys, pavements, and adjoining
property and structures; adjacent drainage; rights-of-way, restrictions,
easements, encroachments, zoning, deed restrictions, boundaries and contours of
the site; locations, dimensions and necessary data pertaining to existing
buildings, other improvements and trees; and information concerning available
utility services and lines, both public and private, above and below grade,
including inverts and depths. All the information on the survey shall be
referenced to a Project benchmark.

2.1.5 The Owner shall furnish the services of geotechnical engineers when such
services are stipulated in this Part 1 Agreement, or deemed reasonably necessary
by the Design/Builder. Such services may include but are not limited to test
borings, test pits, determinations of soil bearing values, percolation tests,
evaluations of hazardous materials, ground corrosion and resistively tests, and
necessary operations for anticipating subsoil conditions. The services of
geotechnical engineer(s) or other consultants shall include preparation and
submission of all appropriate reports and professional recommendations.

2.1.6 The Owner shall disclose, to the extent known to the Owner, the results
and reports of prior tests, inspections or investigations conducted for the
Project involving: structural or mechanical systems; chemical, air and water
pollution; hazardous materials; or other environmental and subsurface
conditions. The Owner shall disclose all information known to the Owner
regarding the presence of pollutants at the Project's site.

2.1.7 The Owner shall furnish all legal, accounting and insurance counseling
services as may be necessary at any time for the Project, including such
auditing services as the Owner may require to verify the Design/Builder's
Application for Payment.

2.1.8 The Owner shall promptly obtain easements, zoning variances, and legal
authorizations regarding site utilization where essential to the execution of
the Owner's program.

2.1.9 Those services, information, surveys, and reports required by Paragraphs
2.1.4 through 2.1.8 which are within the Owner's control shall be furnished at
the Owner's expense, and the Design/Builder shall be entitled to rely upon the
accuracy and completeness thereof, except to the extent the Owner advises the
Design/Builder to the contrary in writing.

2.1.10 If the Owner requires the Design/Builder to maintain any special
insurance coverage, policy, amendment, or rider, the Owner shall pay the
additional cost thereof, except as otherwise stipulated in this Part 1
Agreement.

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AIA DOCUMENT A191 - OWNER-DESIGN/BUILDER AGREEMENT - SECOND EDITION - AIA -
(C)1995 THE AMERICAN INSTITUTE OF ARCHITECTS, 1735 NEW YORK AVENUE, NW,
WASHINGTON, DC 20006-5292 - WARNING. Unauthorized photocopying violates U.S.
copyright laws and is subject to legal prosecution. This document was
electronically produced with permission of the AIA and can be reproduced without
violation until the date of expiration as noted below.

                                                   Electronic Format A191 - 1996
                                               User Document: ASPEN - 2/26/2001.
                  AIA License Number 109319, which expires on 1/2/2002 - Page #6

<PAGE>

2.1.11 The Owner shall communicate with persons or entities employed or retained
by the Design/Builder through the Design/Builder, unless otherwise directed by
the Design/Builder.

                                    ARTICLE 3
               OWNERSHIP AND USE OF DOCUMENTS AND ELECTRONIC DATA

3.1 Drawings, specifications, and other documents and electronic data furnished
by the Design/Builder are instruments of service. The Design/Builder's Architect
and other providers of professional services shall retain all common law,
statutory and other reserved rights, including copyright in those instruments of
service furnished by them. Drawings, specifications, and other documents and
electronic data are furnished for use solely with respect to this Part 1
Agreement. The Owner shall be permitted to retain copies, including reproducible
copies, of the drawings, specifications, and other documents and electronic data
furnished by the Design/Builder for information and reference in connection with
the Project except as provided in Paragraphs 3.2 and 3.3.

3.2 If the Part 2 Agreement is not executed, the Owner shall not use the
drawings, specifications, and other documents and electronic data furnished by
the Design/Builder without the written permission of the Design/Builder.
Drawings, specifications, and other documents and electronic data shall not be
used by the Owner or others on other projects, for additions to this Project or
for completion of this Project by others, except by agreement in writing and
with appropriate compensation to the Design/Builder, unless the Design/Builder
is adjudged to be in default under this Part 1 Agreement or under any other
subsequently executed agreement, or by agreement in writing.

3.3 If the Design/Builder defaults in the Design/Builder's obligations to the
Owner, the Architect shall grant a license to the Owner to use the drawings,
specifications, and other documents and electronic data furnished by the
Architect to the Design/Builder for the completion of the Project, conditioned
upon the Owner's execution of an agreement to cure the Design/Builder's default
in payment to the Architect for services previously performed and to indemnify
the Architect with regard to claims arising from such reuse without the
Architect's professional involvement.

3.4 Submission or distribution of the Design/Builder's documents to meet
official regulatory requirements or for similar purposes in connection with the
Project is not to be construed as publication in derogation of the rights
reserved in Paragraph 3.1.

                                    ARTICLE 4
                                      TIME

4.1 Upon the request of the Owner, the Design/Builder shall prepare a schedule
for the performance of the Basic and Additional Services which shall not exceed
the time limits contained in Paragraph 10.1 and shall include allowances for
periods of time required for the Owner's review and for approval of submissions
by authorities having jurisdiction over the Project.

4.2 If the Design/Builder is delayed in the performance of services under this
Part 1 Agreement through no fault of the Design/Builder, any applicable schedule
shall be equitably adjusted.

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AIA DOCUMENT A191 - OWNER-DESIGN/BUILDER AGREEMENT - SECOND EDITION - AIA -
(C)1995 THE AMERICAN INSTITUTE OF ARCHITECTS, 1735 NEW YORK AVENUE, NW,
WASHINGTON, DC 20006-5292 - WARNING. Unauthorized photocopying violates U.S.
copyright laws and is subject to legal prosecution. This document was
electronically produced with permission of the AIA and can be reproduced without
violation until the date of expiration as noted below.

                                                   Electronic Format A191 - 1996
                                               User Document: ASPEN - 2/26/2001.
                  AIA License Number 109319, which expires on 1/2/2002 - Page #7

<PAGE>

                                    ARTICLE 5
                                    PAYMENTS

5.1 The initial payment provided in Article 9 shall be made upon execution of
this Part 1 Agreement and credited to the Owner's account as provided in
Subparagraph 9.1.2.

5.2 Subsequent payments for Basic Services, Additional Services, and
Reimbursable Expenses provided for in this Part 1 Agreement shall be made
monthly on the basis set forth in Article 9.

5.3 Within ten (10) days of the Owner's receipt of a properly submitted and
correct Application for Payment, the Owner shall make payment to the
Design/Builder.

5.4 Payments due the Design/Builder under this Part 1 Agreement which are not
paid when due shall bear interest from the date due at the rate specified in
Paragraph 9.5, or in the absence of a specified rate, at the legal rate
prevailing where the Project is located.

                                    ARTICLE 6
                 DISPUTE RESOLUTION - MEDIATION AND ARBITRATION

6.1 Claims, disputes or other matters in question between the parties to this
Part 1 Agreement arising out of or relating to this Part 1 Agreement or breach
thereof shall be subject to and decided by mediation or arbitration. Such
mediation or arbitration shall be conducted in accordance with the Construction
Industry Mediation or Arbitration Rules of the American Arbitration Association
currently in effect.

6.2 In addition to and prior to arbitration, the parties shall endeavor to
settle disputes by mediation. Demand for mediation shall be filed in writing
with the other party to this Part 1 Agreement and with the American Arbitration
Association. A demand for mediation shall be made within a reasonable time after
the claim, dispute or other matter in question has arisen. In no event shall the
demand for mediation be made after the date when institution of legal or
equitable proceedings based on such claim, dispute or other matter in question
would be barred by the applicable statute of repose or limitations.

6.3 Demand for arbitration shall be filed in writing with the other party to
this Part 1 Agreement and with the American Arbitration Association. A demand
for arbitration shall be made within a reasonable time after the claim, dispute
or other matter in question has arisen. In no event shall the demand for
arbitration be made after the date when institution of legal or equitable
proceedings based on such claim, dispute or other matter in question would be
barred by the applicable statutes of repose or limitations.

6.4 An arbitration pursuant to this Paragraph may be joined with an arbitration
involving common issues of law or fact between the Design/Builder and any person
or entity with whom the Design/Builder has a contractual obligation to arbitrate
disputes. No other arbitration arising out of or relating to this Part 1
Agreement shall include, by consolidation, joinder or in any other manner, an
additional person or entity not a party to this Part 1 Agreement or not a party
to an agreement with the Design/Builder, except by written consent containing a
specific reference to this Part 1 Agreement signed by the Owner, the
Design/Builder and all other persons or entities sought to be joined. Consent to
arbitration involving an additional person or entity shall not constitute
consent to arbitration of any claim, dispute or other matter in question not
described n the written consent or with a person or entity not named or
described therein. The foregoing

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AIA DOCUMENT A191 - OWNER-DESIGN/BUILDER AGREEMENT - SECOND EDITION - AIA -
(C)1995 THE AMERICAN INSTITUTE OF ARCHITECTS, 1735 NEW YORK AVENUE, NW,
WASHINGTON, DC 20006-5292 - WARNING. Unauthorized photocopying violates U.S.
copyright laws and is subject to legal prosecution. This document was
electronically produced with permission of the AIA and can be reproduced without
violation until the date of expiration as noted below.

                                                   Electronic Format A191 - 1996
                                               User Document: ASPEN - 2/26/2001.
                  AIA License Number 109319, which expires on 1/2/2002 - Page #8

<PAGE>

agreement to arbitrate and other agreements to arbitrate with an additional
person or entity duly consented to by the parties to this Part 1 Agreement shall
be specifically enforceable in accordance with applicable law in any court
having jurisdiction thereof.

6.5 The award rendered by the arbitrator or arbitrators shall be final, and
judgment may be entered upon it in accordance with applicable law in any court
having jurisdiction thereof.

                                    ARTICLE 7
                            MISCELLANEOUS PROVISIONS

7.1 Unless otherwise provided, this Part 1 Agreement shall be governed by the
law of the place where the Project is located.

7.2 The Owner and the Design/Builder, respectively, bind themselves, their
partners, successors, assigns and legal representatives to the other party to
this Part 1 Agreement and to the partners, successors and assigns of such other
party with respect to all covenants of this Part 1 Agreement. Neither the Owner
nor the Design/Builder shall assign this Part 1 Agreement without the written
consent of the other.

7.3 Unless otherwise provided, neither the design for nor the cost of
remediation of hazardous materials shall be the responsibility of the
Design/Builder.

7.4 This Part 1 Agreement represents the entire and integrated agreement between
the Owner and the Design/Builder and supersedes all prior negotiations,
representations or agreements, either written or oral. This Part 1 Agreement may
be amended only by written instrument signed by both the Owner and the
Design/Builder.

7.5 Prior to the termination of the services of the Architect or any other
design professional designated in this Part 1 Agreement, the Design/Builder
shall identify to the Owner in writing another architect or design professional
with respect to whom the Owner has no reasonable objection, who will provide the
services originally to have been provided by the Architect or other design
professional whose services are being terminated.

                                    ARTICLE 8
                          TERMINATION OF THE AGREEMENT

8.1 This Part 1 Agreement may be terminated by either party upon seven (7) days'
written notice should the other party fail to perform substantially in
accordance with its terms through no fault of the party initiating the
termination.

8.2 This Part 1 Agreement may be terminated by the Owner without cause upon at
least seven (7) days' written notice to the Design/Builder.

8.3 In the event of termination not the fault of the Design/Builder, the
Design/Builder shall be compensated for services performed to the termination
date, together with Reimbursable Expenses then due and Termination Expenses.
Termination Expenses are expenses directly attributable to termination,

------------------------------------------------------------------------------
AIA DOCUMENT A191 - OWNER-DESIGN/BUILDER AGREEMENT - SECOND EDITION - AIA -
(C)1995 THE AMERICAN INSTITUTE OF ARCHITECTS, 1735 NEW YORK AVENUE, NW,
WASHINGTON, DC 20006-5292 - WARNING. Unauthorized photocopying violates U.S.
copyright laws and is subject to legal prosecution. This document was
electronically produced with permission of the AIA and can be reproduced without
violation until the date of expiration as noted below.

                                                   Electronic Format A191 - 1996
                                               User Document: ASPEN - 2/26/2001.
                  AIA License Number 109319, which expires on 1/2/2002 - Page #9

<PAGE>

including a reasonable amount for overhead and profit, for which the
Design/Builder is not otherwise compensated under this Part 1 Agreement.

                                    ARTICLE 9
                              BASIS OF COMPENSATION

The Owner shall compensate the Design/Builder in accordance with Article 5,
Payments, and the other provisions of this Part 1 Agreement as described below.

9.1 COMPENSATION FOR BASIC SERVICES

9.1.1 FOR BASIC SERVICES, compensation shall be as follows:

9.1.2 AN INITIAL PAYMENT of Twenty Five Thousand Dollars ($25,000.00) shall be
made upon execution of this Part 1 Agreement and credited to the Owner's account
as follows: as a payment under Part 2 Agreement, Article 13.1.1 Compensation.

9.1.3 SUBSEQUENT PAYMENTS shall be as follows:
not applicable

9.2 COMPENSATION FOR ADDITIONAL SERVICES

9.2.1 FOR ADDITIONAL SERVICES, compensation shall be as follows:
not applicable

9.3 REIMBURSABLE EXPENSES

9.3.1 Reimbursable Expenses are in addition to Compensation for Basic and
Additional Services, and include actual expenditures made by the Design/Builder
and the Design/Builder's employees and contractors in the interest of the
Project, as follows:
not applicable

9.3.2 FOR REIMBURSABLE EXPENSES, compensation shall be a multiple of ( ) times
the amounts expended.

9.4 DIRECT PERSONNEL EXPENSES is defined as the direct salaries of personnel
engaged on the Project, and the portion of the cost of their mandatory and
customary contributions and benefits related thereto, such as employment taxes
and other statutory employee benefits, insurance, sick leave, holidays,
vacations, pensions, and similar contributions and benefits.

9.5 INTEREST PAYMENTS

9.5.1 The rate of interest for past due payments shall be as follows:
Prime interest rate plus one percent

------------------------------------------------------------------------------
AIA DOCUMENT A191 - OWNER-DESIGN/BUILDER AGREEMENT - SECOND EDITION - AIA -
(C)1995 THE AMERICAN INSTITUTE OF ARCHITECTS, 1735 NEW YORK AVENUE, NW,
WASHINGTON, DC 20006-5292 - WARNING. Unauthorized photocopying violates U.S.
copyright laws and is subject to legal prosecution. This document was
electronically produced with permission of the AIA and can be reproduced without
violation until the date of expiration as noted below.

                                                   Electronic Format A191 - 1996
                                               User Document: ASPEN - 2/26/2001.
                 AIA License Number 109319, which expires on 1/2/2002 - Page #10

<PAGE>

(Usury laws and requirements under the Federal Truth in Lending Act, similar
acts and local consumer credit laws and other regulations at the Owner's and
Design/Builder's principal place of business, or the location of the Project and
elsewhere may affect the validity of this provision. Specific legal advice
should be obtained with respect to deletions, modifications or other
requirements, such as written disclosures or waivers)

9.6 IF THE SCOPE of the Project is changed materially, the amount of
compensation shall be equitably adjusted.

9.7 The compensation set forth in this Part 1 Agreement shall be equitably
adjusted if through no fault of the Design/Builder the services have not been
completed within one (1) month of the date of this Part 1 Agreement.

                                   ARTICLE 10
                          OTHER CONDITIONS AND SERVICES

10.1 The Basic Services to be performed shall be commenced on and, subject to
authorized adjustments and to delays not caused by the Design/Builder, shall be
completed in ( ) calendar days. The Design/Builder's Basic Services consist of
those described in Paragraph 1.3 as part of Basic Services, and include normal
professional engineering and preliminary design services, unless otherwise
indicated.

10.2 Services beyond those described in Paragraph 1.4 are as follows: (Insert
descriptions of other services, identify Additional Services included within
Basic Compensation and modifications to the payment and compensation terms
included in this Agreement.)

10.3 The Owner's preliminary program, budget, and other documents, if any, are
enumerated as follows:

Title
See Attached Exhibit "A")

This Agreement entered into as of the day and year first written above.

<Table>
<S>                                                 <C>
OWNER                                               DESIGN/BUILDER

         /s/ Roger Hurst                                     /s/ Don Weaver
-------------------------------------------         --------------------------------------------
(Signature)                                         (Signature)
Roger Hurst                                         Don Weaver, President
(Principal name and title)                          (Principal name and title)
</Table>

------------------------------------------------------------------------------
AIA DOCUMENT A191 - OWNER-DESIGN/BUILDER AGREEMENT - SECOND EDITION - AIA -
(C)1995 THE AMERICAN INSTITUTE OF ARCHITECTS, 1735 NEW YORK AVENUE, NW,
WASHINGTON, DC 20006-5292 - WARNING. Unauthorized photocopying violates U.S.
copyright laws and is subject to legal prosecution. This document was
electronically produced with permission of the AIA and can be reproduced without
violation until the date of expiration as noted below.

                                                   Electronic Format A191 - 1996
                                               User Document: ASPEN - 2/26/2001.
                 AIA License Number 109319, which expires on 1/2/2002 - Page #11

<PAGE>

                       STANDARD FORM OF AGREEMENTS BETWEEN
                            OWNER AND DESIGN/BUILDER

                      AIA DOCUMENT A191 - ELECTRONIC FORMAT

--------------------------------------------------------------------------------
This document comprises two separate Agreements: Part 1 Agreement and Part 2
Agreement. Before executing the Part 1 Agreement, the parties should reach
substantial agreement on the Part 2 Agreement. To the extent referenced in these
Agreements, subordinate parallel agreements to A191 consist of AIA Documents
A491, Standard Form of Agreements Between Design/Builder and Contractor, and AIA
Document 8901, Standard Form of Agreements Between Design/Builder and Architect.

                                PART 2 AGREEMENT

                                  1996 EDITION
--------------------------------------------------------------------------------
AGREEMENT

made as of the 26th day of February in the year of 2002
(In words, indicate day, month and year)

BETWEEN the Owner:
(Name and address)
Roger Hurst
8100 Southpark Way, Suite B-1
Littleton, Colorado 80120

and the Design/Builder:
(Name and address)
Urban Construction, Inc.
7437 Village Square Drive, Suite 200
Castle Rock, Colorado  80104

For the following Project:
(Include Project name, location and a summary description)
Aspen Bio Inc.'s new 40,000sf building Castle Rock, Colorado 80104.
To be comprised of a concrete tilt wall and structural steel frame building.

The architectural services described in Article I will be provided by the
following person or entity who is lawfully licensed to practice architecture:

(Name and address)    (Registration Number)    Relationship to Design/Builder)
Robert Hooper AIA             14707                      Employee
--------------------------------------------------------------------------------
Normal structural, mechanical and electrical engineering services will be
provided contractually through the Architect except as indicated below:

(Name and address)    (Registration Number)    Relationship to Design/Builder)
not applicable

The Owner and the Design/Builder agree as set forth below:

------------------------------------------------------------------------------
AIA DOCUMENT A191 - OWNER-DESIGN/BUILDER AGREEMENT - SECOND EDITION - AIA -
(C)1995 THE AMERICAN INSTITUTE OF ARCHITECTS, 1735 NEW YORK AVENUE, NW,
WASHINGTON, DC 20006-5292 - WARNING. Unauthorized photocopying violates U.S.
copyright laws and is subject to legal prosecution. This document was
electronically produced with permission of the AIA and can be reproduced without
violation until the date of expiration as noted below.

                                                   Electronic Format A191 - 1996
                                               User Document: ASPEN - 2/26/2001.
                 AIA License Number 109319, which expires on 1/2/2002 - Page #12

<PAGE>

                     TERMS AND CONDITIONS - PART 2 AGREEMENT

                                    ARTICLE 1
                               GENERAL PROVISIONS

1.1 BASIC DEFINITIONS

1.1.1 The Contract Documents consist of the Part 1 Agreement to the extent not
modified by this Part 2 Agreement, this Part 2 Agreement, the Design/Builder's
Proposal and written addenda to the Proposal identified in Article 14, the
Construction Documents approved by the Owner in accordance with Subparagraph
3.2.3 and Modifications issued after execution of this Part 2 Agreement. A
Modification is a Change Order or a written amendment to this Part 2 Agreement
signed by both parties, or a Construction Change Directive issued by the Owner
in accordance with Paragraph 8.3.

1.1.2 The term "Work" means the construction and services provided by the
Design/Builder to fulfill the Design/Builder's obligations.

1.2 EXECUTION, CORRELATION AND INTENT

1.2.1 It is the intent of the Owner and Design/Builder that the Contract
Documents include all items necessary for proper execution and completion of the
Work. The Contract Documents are complementary, and what is required by one
shall be as binding as if required by all; performance by the Design/Builder
shall be required only to the extent consistent with and reasonably inferable
from the Contract Documents as being necessary to produce the intended results.
Words that have well-known technical or construction industry meanings are used
in the Contract Documents in accordance with such recognized meanings.

1.2.2 If the Design/Builder believes or is advised by the Architect or by
another design professional retained to provide services on the Project that
implementation of any instruction received from the Owner would cause a
violation of any applicable law, the Design/Builder shall notify the Owner in
writing. Neither the Design/Builder nor the Architect shall be obligated to
perform any act which either believes will violate any applicable law.

1.2.3 Nothing contained in this Part 2 Agreement shall create a contractual
relationship between the Owner and any person or entity other than the
Design/Builder.

1.3 OWNERSHIP AND USE OF DOCUMENTS

1.3.1 Drawings, specifications, and other documents and electronic data
furnished by the Design/Builder are instruments of service. The Design/Builder's
Architect and other providers of professional services shall retain all common
law, statutory and other reserved rights, including

------------------------------------------------------------------------------
AIA DOCUMENT A191 - OWNER-DESIGN/BUILDER AGREEMENT - SECOND EDITION - AIA -
(C)1995 THE AMERICAN INSTITUTE OF ARCHITECTS, 1735 NEW YORK AVENUE, NW,
WASHINGTON, DC 20006-5292 - WARNING. Unauthorized photocopying violates U.S.
copyright laws and is subject to legal prosecution. This document was
electronically produced with permission of the AIA and can be reproduced without
violation until the date of expiration as noted below.

                                                   Electronic Format A191 - 1996
                                               User Document: ASPEN - 2/26/2001.
                 AIA License Number 109319, which expires on 1/2/2002 - Page #13

<PAGE>

copyright in those instruments of service furnished by them. Drawings,
specifications, and other documents and electronic data are furnished for use
solely with respect to this Part 2 Agreement. The Owner shall be permitted to
retain copies, including reproducible copies, of the drawings, specifications,
and other documents and electronic data furnished by the Design/Builder for
information and reference in connection with the Project except as provided in
Subparagraphs 1.3.2 and 1.3.3.

1.3.2 Drawings, specifications, and other documents and electronic data
furnished by the Design/Builder shall not be used by the Owner or others on
other projects, for additions to this Project or for completion of this Project
by others, except by agreement in writing and with appropriate compensation to
the Design/Builder, unless the Design/Builder is adjudged to be in default under
this Part 2 Agreement or under any other subsequently executed agreement.

1.3.3 If the Design/Builder defaults in the Design/Builder's obligations to the
Owner, the Architect shall grant a license to the Owner to use the drawings,
specifications, and other documents and electronic data furnished by the
Architect to the Design/Builder for the completion of the Project, conditioned
upon the Owner's execution of an agreement to cure the Design/Builder's default
in payment to the Architect for services previously performed and to indemnify
the Architect with regard to claims arising from such reuse without the
Architect's professional involvement.

1.3.4 Submission or distribution of the Design/Builder's documents to meet
official regulatory requirements or for similar purposes in connection with the
Project is not to be construed as publication in derogation of the rights
reserved in Subparagraph 1.3.1.

                                    ARTICLE 2
                                      OWNER

2.1 The Owner shall designate a representative authorized to act on the Owner's
behalf with respect to the Project. The Owner of such authorized representative
shall examine documents submitted by the Design/Builder and shall render
decisions in a timely manner and in accordance with the schedule accepted by the
Owner. The Owner may obtain independent review of the Contract Documents by a
separate architect, engineer, contractor, or cost estimator under contract to or
employed by the Owner. Such independent review shall be undertaken at the
Owner's expense in a timely manner and shall not delay the orderly progress of
the Work.

2.2 The Owner may appoint an on-site project representative to observe the Work
and to have such other responsibilities as the Owner and Design/Builder agree in
writing.

2.3 The Owner shall cooperate with the Design/Builder in securing building and
other permits, licenses and inspections. The Owner shall not be required to pay
the fees for such permits, licenses and inspections unless the cost of such fees
is excluded from the Design/Builder's Proposal.

------------------------------------------------------------------------------
AIA DOCUMENT A191 - OWNER-DESIGN/BUILDER AGREEMENT - SECOND EDITION - AIA -
(C)1995 THE AMERICAN INSTITUTE OF ARCHITECTS, 1735 NEW YORK AVENUE, NW,
WASHINGTON, DC 20006-5292 - WARNING. Unauthorized photocopying violates U.S.
copyright laws and is subject to legal prosecution. This document was
electronically produced with permission of the AIA and can be reproduced without
violation until the date of expiration as noted below.

                                                   Electronic Format A191 - 1996
                                               User Document: ASPEN - 2/26/2001.
                 AIA License Number 109319, which expires on 1/2/2002 - Page #14

<PAGE>

2.4 The Owner shall furnish services of land surveyors, geotechnical engineers,
and other consultants for subsoil, air and water conditions, in addition to
those provided under the Part 1 Agreement, when such services are deemed
necessary by the Design/Builder to properly carry out the design services
required by this Part 2 Agreement.

2.5 The Owner shall disclose, to the extent known to the Owner, the results and
reports of prior tests, inspections or investigations conducted for the Project
involving: structural or mechanical systems; chemical, air and water pollution;
hazardous materials; or other environmental and subsurface conditions. The Owner
shall disclose all information known to the Owner regarding the presence of
pollutants at the Project's site.

2.6 The Owner shall furnish all legal, accounting and insurance counseling
services as may be necessary at any time for the Project, including such
auditing services as the Owner may require to verify the Design/Builder's
Application for Payment.

2.7 Those services, information, surveys and reports required by Paragraphs 2.4
through 2.6 which are within the Owner's control shall be furnished at the
Owner's expense, and the Design/Builder shall be entitled to rely upon the
accuracy and completeness thereof, except to the extent the Owner advises the
Design/Builder to the contrary in writing.

2.8 If the Owner requires the Design/Builder to maintain any special insurance
coverage, policy, amendment, or rider, the Owner shall pay the additional cost
thereof, except as otherwise stipulated in this Part 2 Agreement.

2.9 If the Owner observes or otherwise becomes aware of a fault or defect in the
Work or nonconformity with the Design/Builder's Proposal or the Construction
Documents, the Owner shall give prompt written notice thereof to the
Design/Builder.

2.10 The Owner shall, at the request of the Design/Builder, prior to execution
of this Part 2 Agreement and promptly upon request thereafter, furnish to the
Design/Builder reasonable evidence that financial arrangements have been made to
fulfill the Owner's obligations under the Contract.

2.11 The Owner shall communicate with persons or entities employed or retained
by the Design/Builder thought he Design/Builder, unless otherwise directed by
the Design/Builder.

------------------------------------------------------------------------------
AIA DOCUMENT A191 - OWNER-DESIGN/BUILDER AGREEMENT - SECOND EDITION - AIA -
(C)1995 THE AMERICAN INSTITUTE OF ARCHITECTS, 1735 NEW YORK AVENUE, NW,
WASHINGTON, DC 20006-5292 - WARNING. Unauthorized photocopying violates U.S.
copyright laws and is subject to legal prosecution. This document was
electronically produced with permission of the AIA and can be reproduced without
violation until the date of expiration as noted below.

                                                   Electronic Format A191 - 1996
                                               User Document: ASPEN - 2/26/2001.
                 AIA License Number 109319, which expires on 1/2/2002 - Page #15

<PAGE>

                                    ARTICLE 3
                                 DESIGN/BUILDER

3.1 SERVICES AND RESPONSIBILITIES

3.1.1 Design services required by this Part 2 Agreement shall be performed by
qualified architects and other design professionals. The contractual obligations
of such professional persons or entities are undertaken and preformed in the
interest of the Design/Builder.

3.1.2 The agreements between the Design/Builder and the persons or entities
identified in this Part 2 Agreement, and any subsequent modifications, shall be
in writing. These agreements, including financial arrangements with respect to
this Project, shall be promptly and fully disclosed to the Owner upon request.

3.1.3 The Design/Builder shall be responsible to the Owner for acts and
omissions of the Design/Builder's employees, subcontractors and their agents and
employees, and other persons, including the Architect and other design
professionals, performing any portion of the Design/Builder's obligations under
this Part 2 Agreement.

3.2 BASIC SERVICES

3.2.1 The Design/Builder's Basic Services are described below and in Article 14.

3.2.2 The Design/Builder shall designate a representative authorized to act on
the Design/Builder's behalf with respect to the Project.

3.2.3 The Design/Builder shall submit Construction Documents for review and
approval by the Owner. Construction Documents may include drawings,
specifications, and other documents and electronic data setting forth in detail
the requirements for construction of the Work and shall:

         1.       be consistent with the intent of the Design/Builder's
                  Proposal;

         2.       provide information for the use of those in the building
                  trades; and

         3.       include documents customarily required for regulatory agency
                  approvals.

3.2.4 The Design/Builder, with the assistance of the Owner, shall file documents
required to obtain necessary approvals of governmental authorities having
jurisdiction over the Project.

3.2.5 Unless otherwise provided in the Contract Documents, the Design/Builder
shall provide or cause to be provided and shall pay for design services, labor,
materials, equipment, tools, construction equipment and machinery, water, heat,
utilities, transportation and other facilities and

------------------------------------------------------------------------------
AIA DOCUMENT A191 - OWNER-DESIGN/BUILDER AGREEMENT - SECOND EDITION - AIA -
(C)1995 THE AMERICAN INSTITUTE OF ARCHITECTS, 1735 NEW YORK AVENUE, NW,
WASHINGTON, DC 20006-5292 - WARNING. Unauthorized photocopying violates U.S.
copyright laws and is subject to legal prosecution. This document was
electronically produced with permission of the AIA and can be reproduced without
violation until the date of expiration as noted below.

                                                   Electronic Format A191 - 1996
                                               User Document: ASPEN - 2/26/2001.
                 AIA License Number 109319, which expires on 1/2/2002 - Page #16

<PAGE>

services necessary for proper execution and completion of the Work, whether
temporary or permanent and whether or not incorporated or to be incorporated in
the Work.

3.2.6 The Design/Builder shall be responsible for all construction means,
methods, techniques, sequences and procedures, and for coordinating all portions
of the Work under this Part 2 Agreement.

3.2.7 The Design/Builder shall keep the Owner informed of the progress and
quality of the Work.

3.2.8 The Design/Builder shall be responsible for correcting Work which does not
conform to the Contract Documents.

3.2.9 The Design/Builder warrants to the Owner that materials and equipment
furnished under the Contract will be of good quality and new unless otherwise
required or permitted by the Contract Documents, that the construction will be
free from faults and defects, and that the construction will conform with the
requirements of the Contract Documents. Construction not conforming to these
requirements, including substitutions not properly approved by the Owner, shall
be corrected in accordance with Article 9.

3.2.10 The Design/Builder shall pay all sales, consumer, use and similar taxes
which had been legally enacted at the time the Design/Builder's Proposal was
first submitted to the Owner, and shall secure and pay for building and other
permits and governmental fees, licenses and inspections necessary for the proper
execution and completion of the Work which are either customarily secured after
execution of a contract for construction or are legally required at the time the
Design/Builder's Proposal was first submitted to the Owner.

3.2.11 The Design/Builder shall comply with and give notices required by laws,
ordinances, rules, regulations and lawful orders of public authorities relating
to the Project.

3.2.12 The Design/Builder shall pay royalties and license fees for patented
designs, processes or products. The Design/Builder shall defend suits or claims
for infringement of patent rights and shall hold the Owner harmless from loss on
account thereof, but shall not be responsible for such defense or loss when a
particular design, process or product of a particular manufacturer is required
by the Owner. However, if the Design/Builder has reason to believe the use of a
required design, process or product is an infringement of a patent, the
Design/Builder shall be responsible for such loss unless such information is
promptly furnished to the Owner.

3.2.13 The Design/Builder shall keep the premises and surrounding area free from
accumulation of waste materials or rubbish caused by operations under this Part
2 Agreement. At the completion of the Work, the Design/Builder shall remove from
the site waste materials, rubbish, the Design/Builder's tools, construction
equipment, machinery, and surplus materials.

------------------------------------------------------------------------------
AIA DOCUMENT A191 - OWNER-DESIGN/BUILDER AGREEMENT - SECOND EDITION - AIA -
(C)1995 THE AMERICAN INSTITUTE OF ARCHITECTS, 1735 NEW YORK AVENUE, NW,
WASHINGTON, DC 20006-5292 - WARNING. Unauthorized photocopying violates U.S.
copyright laws and is subject to legal prosecution. This document was
electronically produced with permission of the AIA and can be reproduced without
violation until the date of expiration as noted below.

                                                   Electronic Format A191 - 1996
                                               User Document: ASPEN - 2/26/2001.
                 AIA License Number 109319, which expires on 1/2/2002 - Page #17

<PAGE>

3.2.14 The Design/Builder shall notify the Owner when the Design/Builder
believes that the Work or an agreed upon portion thereof is substantially
completed. IF the Owner concurs, the Design/Builder shall issue a Certificate of
Substantial Completion which shall establish the Date of Substantial Completion,
shall state the responsibility of each party for security, maintenance, heat,
utilities, damage to the Work and insurance, shall include a list of items to be
completed or corrected and shall fix the time within which the Design/Builder
shall complete items listed therein. Disputes between the Owner and
Design/Builder regarding the Certificate of Substantial Completion shall be
resolved in accordance with provisions of Article 10.

3.2.15 The Design/Builder shall maintain at the site for the Owner one record
copy of the drawings, specifications, product data, samples, shop drawings,
Change Orders and other modifications, in good order and regularly updated to
record the completed construction. These shall be delivered to the Owner upon
completion of construction and prior to final payment.

3.3 ADDITIONAL SERVICES

3.3.1 The services described in this Paragraph 3.3 are not included in Basic
Services unless so identified in Article 14, and they shall be paid for by the
Owner as provided in this Part 2 Agreement, in addition to the compensation for
Basic Services. The services described in this Paragraph 3.3 shall be provided
only if authorized or confirmed in writing by the Owner.

3.3.2 Making revisions in drawings, specifications, and other documents or
electronic data when such revisions are required by the enactment or revision of
codes, laws or regulations subsequent to the preparation of such documents or
electronic data.

3.3.3 Providing consultation concerning replacement of Work damaged by fire or
other cause during construction, and furnishing services required in connection
with the replacement of such Work.

3.3.4 Providing services in connection with a public hearing, arbitration,
proceeding or legal proceeding, except where the Design/Builder is a party
thereto.

3.3.5 Providing coordination of construction performed by the Owner's own forces
or separate contractors employed by the Owner, and coordination of services
required in connection with construction performed and equipment supplied by the
Owner.

3.3.6 Preparing a set of reproducible record documents or electronic data
showing significant changes in the Work made during construction.

3.3.7 Providing assistance in the utilization of equipment or systems such as
preparation of operation and maintenance manuals, training personnel for
operation and maintenance, and consultation during operation.

------------------------------------------------------------------------------
AIA DOCUMENT A191 - OWNER-DESIGN/BUILDER AGREEMENT - SECOND EDITION - AIA -
(C)1995 THE AMERICAN INSTITUTE OF ARCHITECTS, 1735 NEW YORK AVENUE, NW,
WASHINGTON, DC 20006-5292 - WARNING. Unauthorized photocopying violates U.S.
copyright laws and is subject to legal prosecution. This document was
electronically produced with permission of the AIA and can be reproduced without
violation until the date of expiration as noted below.

                                                   Electronic Format A191 - 1996
                                               User Document: ASPEN - 2/26/2001.
                 AIA License Number 109319, which expires on 1/2/2002 - Page #18

<PAGE>

                                    ARTICLE 4
                                      TIME

4.1 Unless otherwise indicated, the Owner and the Design/Builder shall perform
their respective obligations as expeditiously as is consistent with reasonable
skill and care and the orderly progress of the Project.

4.2 Time limits stated in the Contract Documents are of the essence. The Work to
be performed under this Part 2 Agreement shall commence upon receipt of a notice
to proceed unless otherwise agreed and, subject to authorized Modifications,
Substantial Completion shall be achieved on or before the date established in
Article 14.

4.3 Substantial Completion is the stage in the progress of the Work when the
Work or designated portion thereof is sufficiently complete in accordance with
the Contract Documents os the Owner can occupy or utilize the Work for its
intended use.

4.4 Based on the Design/Builder's Proposal, a construction schedule shall be
provided consistent with Paragraph 4.2 above.

4.5 If the Design/Builder is delayed at any time in the progress of the Work by
an act or neglect of the Owner, Owner's employees, or separate contractors
employed by the Owner, or by changes ordered in the Work, or by labor disputes,
fire, unusual delay in deliveries, adverse weather conditions not reasonably
anticipatable, unavoidable casualties or other causes beyond the
Design/Builder's control, or by delay authorized by the Owner pending
arbitration, or by other causes which the Owner and Design/Builder agree may
justify the delay, then the Contract Time shall be reasonably extended by Change
Order.

                                    ARTICLE 5
                                    PAYMENTS
5.1 PROGRESS PAYMENTS

5.1.1 The Design/Builder shall deliver to the Owner itemized Applications for
Payment in such detail as indicated in Article 14.

5.1.2 Within ten (10) days of the Owner's receipt of a properly submitted and
correct Application for payment, the Owner shall make payment to the
Design/Builder.

5.1.3 The Application for Payment shall constitute a representation by the
Design/Builder to the Owner that the design and construction have progressed to
the point indicated; the quality of the Work covered by the application is in
accordance with the Contract Documents; and the Design/Builder is entitled to
payment in the amount requested.

------------------------------------------------------------------------------
AIA DOCUMENT A191 - OWNER-DESIGN/BUILDER AGREEMENT - SECOND EDITION - AIA -
(C)1995 THE AMERICAN INSTITUTE OF ARCHITECTS, 1735 NEW YORK AVENUE, NW,
WASHINGTON, DC 20006-5292 - WARNING. Unauthorized photocopying violates U.S.
copyright laws and is subject to legal prosecution. This document was
electronically produced with permission of the AIA and can be reproduced without
violation until the date of expiration as noted below.

                                                   Electronic Format A191 - 1996
                                               User Document: ASPEN - 2/26/2001.
                 AIA License Number 109319, which expires on 1/2/2002 - Page #19

<PAGE>

5.1.4 Upon receipt of payment from the Owner, the Design/Builder shall promptly
pay the Architect, other design professionals and each contractor the amount to
which each is entitled in accordance with the terms of their respective
contracts.

5.1.5 The Owner shall have no obligation under this Part 2 Agreement to pay or
to be responsible in any way for payment to the Architect, another design
professional, or a contractor performing portions of the Work.

5.1.6 Neither progress payment nor partial or entire use or occupancy of the
Project by the Owner shall constitute an acceptance of Work not in accordance
with the Contract Documents.

5.1.7 The Design/Builder warrants that title to all construction covered by an
Application for Payment will pass to the Owner no later than the time of
payment. The Design/Builder further warrants that upon submittal of an
Application for Payment all construction for which payments have been received
from the Owner shall be free and clear of liens, claims, security interests or
encumbrances in favor of the Design/Builder or any other person or entity
performing construction at the site or furnishing materials or equipment
relating to the construction.

5.1.8 At the time of Substantial Completion, the Owner shall pay the
Design/Builder the retainage, if any, less the reasonable cost to correct or
complete incorrect or incomplete Work. Final payment of such withheld sum shall
be made upon correction or completion of such Work.

5.2 FINAL PAYMENT

5.2.1 Neither final payment nor amounts retained, if any, shall become due until
the Design/Builder submits to the Owner (1) an affidavit that payrolls, bills
for materials and equipment, and other indebtedness connected with the Work for
which the Owner or Owner's property might be responsible or encumbered (less
amounts withheld by the Owner) have been paid or otherwise satisfied; (2) a
certificate evidencing that insurance required by the Contract Documents to
remain in force after final payment is currently in effect and will not be
canceled or allowed to expire until at least 30 days' prior written notice has
been given to the Owner; (3) a written statement that the Design/Builder knows
of no substantial reason that the insurance will not be renewable to cover the
period required by the Contract Documents; (4) consent of surety, if any, to
final payment; and (5) if required by the Owner, other data establishing payment
or satisfaction of obligations, such as receipts, releases and waivers of liens,
claims, security interests or encumbrances arising out of the Contract, to the
extent and in such form as may be designated by the Owner. If a contractor or
other person or entity entitled to assert a lien against the Owner's property
refuses to furnish a release or waiver required by the Owner, the Design/Builder
may furnish a bond satisfactory to the Owner to indemnify the Owner against such
lien. If such lien remains unsatisfied after payments are made, the
Design/Builder shall indemnify the Owner for all loss and cost, including
reasonable attorneys' fees incurred as a result of such lien.

------------------------------------------------------------------------------
AIA DOCUMENT A191 - OWNER-DESIGN/BUILDER AGREEMENT - SECOND EDITION - AIA -
(C)1995 THE AMERICAN INSTITUTE OF ARCHITECTS, 1735 NEW YORK AVENUE, NW,
WASHINGTON, DC 20006-5292 - WARNING. Unauthorized photocopying violates U.S.
copyright laws and is subject to legal prosecution. This document was
electronically produced with permission of the AIA and can be reproduced without
violation until the date of expiration as noted below.

                                                   Electronic Format A191 - 1996
                                               User Document: ASPEN - 2/26/2001.
                 AIA License Number 109319, which expires on 1/2/2002 - Page #20

<PAGE>

5.2.2 When the Work has been completed and the contract fully performed, the
Design/Builder shall submit a final application for payment to the Owner, who
shall make final payment within 30 days of receipt.

5.2.3 The making of final payment shall constitute a waiver of claims by the
Owner except those arising from:

         1.       liens, claims, security interests or encumbrances arising out
                  of the Contract and unsettled;

         2.       failure of the Work to comply with the requirements of the
                  Contract Documents; or

         3.       terms of special warranties required by the Contract
                  Documents.

5.2.4 Acceptance of final payment shall constitute a waiver of all claims by the
Design/Builder except those previously made in writing and identified by the
Design/Builder as unsettled at the time of final Application for Payment.

5.3 INTEREST PAYMENTS

5.3.1 Payments due the Design/Builder under this Part 2 Agreement which are not
paid when due shall bear interest from the date due at the rate specified in
Article 13, or in the absence of a specified rate, at the legal rate prevailing
where the Project is located.

                                    ARTICLE 6
                       PROTECTION OF PERSONS AND PROPERTY

6.1 The Design/Builder shall be responsible for initiating, maintaining and
providing supervision of all safety precautions and programs in connection with
the performance of this Part 2 Agreement.

6.2 The Design/Builder shall take reasonable precautions for the safety of, and
shall provide reasonable protection to prevent damage, injury or loss to: (1)
employees on the Work and other persons who may be affected thereby; (2) the
Work and materials and equipment to be incorporated therein, whether in storage
on or off the site, under care, custody, or control of the Design/Builder or the
Design/Builder's contractors; and (3) other property at or adjacent thereto,
such as trees, shrubs, lawns, walks, pavements, roadways, structures and
utilities not designated for removal, relocation, or replacement in the course
of construction.

6.3 The Design/Builder shall give notices and comply with applicable laws,
ordinances, rules, regulations and lawful orders of public authorities bearing
on the safety of persons or property or their protection from damage, injury or
loss.

------------------------------------------------------------------------------
AIA DOCUMENT A191 - OWNER-DESIGN/BUILDER AGREEMENT - SECOND EDITION - AIA -
(C)1995 THE AMERICAN INSTITUTE OF ARCHITECTS, 1735 NEW YORK AVENUE, NW,
WASHINGTON, DC 20006-5292 - WARNING. Unauthorized photocopying violates U.S.
copyright laws and is subject to legal prosecution. This document was
electronically produced with permission of the AIA and can be reproduced without
violation until the date of expiration as noted below.

                                                   Electronic Format A191 - 1996
                                               User Document: ASPEN - 2/26/2001.
                 AIA License Number 109319, which expires on 1/2/2002 - Page #21

<PAGE>

6.4 The Design/Builder shall promptly remedy damage and loss (other than damage
or loss insured under property insurance provided or required by the Contract
Documents) to property at the site caused in whole or in part by the
Design/Builder, a contractor of the Design/Builder or anyone directly or
indirectly employed by any of them, or by anyone for whose acts they may be
liable.

                                    ARTICLE 7
                               INSURANCE AND BONDS

7.1 DESIGN/BUILDER'S LIABILITY INSURANCE

7.1.1 The Design/Builder shall purchase from and maintain, in a company or
companies lawfully authorized to do business in the jurisdiction in which the
Project is located, such insurance as will protect the Design/Builder from
claims set forth below which may arise out of or result from operations under
this Part 2 Agreement by the Design/Builder or by a contractor of the
Design/Builder, or by anyone directly or indirectly employed by any of them, or
by anyone for whose acts any of them may be liable:

         1. claims under workers' compensation, disability benefit and other
similar employee benefit laws that are applicable to the Work to be performed;

         2. claims for damages because of bodily injury, occupational sickness
or disease, or death of the Design/Builder's employees;

         3. claims for damages because of bodily injury, sickness or disease, or
death of persons other than the Design/Builder's employees;

         4. claims for damages covered by usual personal injury liability
coverage which are sustained (1) by a person as a result of an offense directly
or indirectly related to employment of such person by the Design/Builder or (2)
by another person;

         5. claims for damages, other than to the Work itself, because of injury
to or destruction of tangible property, including loss of use resulting
therefrom;

         6. claims for damages because of bodily injury, death of a person or
property damage arising out of ownership, maintenance or use of a motor vehicle;
and

         7. claims involving contractual liability insurance applicable to the
Design/Builder's obligations under Paragraph 11.5.

7.1.2 The insurance required by Subparagraph 7.1.1 shall be written for not less
than limits of liability specified in this Part 2 Agreement or required by law,
whichever coverage is greater. Coverages, whether written on an occurrence or
claims-made basis, shall be maintained without

------------------------------------------------------------------------------
AIA DOCUMENT A191 - OWNER-DESIGN/BUILDER AGREEMENT - SECOND EDITION - AIA -
(C)1995 THE AMERICAN INSTITUTE OF ARCHITECTS, 1735 NEW YORK AVENUE, NW,
WASHINGTON, DC 20006-5292 - WARNING. Unauthorized photocopying violates U.S.
copyright laws and is subject to legal prosecution. This document was
electronically produced with permission of the AIA and can be reproduced without
violation until the date of expiration as noted below.

                                                   Electronic Format A191 - 1996
                                               User Document: ASPEN - 2/26/2001.
                 AIA License Number 109319, which expires on 1/2/2002 - Page #22

<PAGE>

interruption from the date of commencement of the Work until date of final
payment and termination of any coverage required to be maintained after final
payment.

7.1.3 Certificates of Insurance acceptable to the Owner shall be delivered to
the Owner immediately after execution of this Part 2 Agreement. These
Certificates and the insurance policies required by this Paragraph 7.1 shall
contain a provision that coverage afforded under the policies will not be
canceled or allowed to expire until at least 30 days' prior written notice has
been given to the Owner. If any of the foregoing insurance coverages are
required to remain in force after final payment, an additional certificate
evidencing continuation of such coverage shall be submitted with the application
for final payment. Information concerning reduction of coverage shall be
furnished by the Design/Builder with reasonable promptness in accordance with
the Design/Builder's information and belief.

7.2 OWNER'S LIABILITY INSURANCE

7.2.1 The Owner shall be responsible for purchasing and maintaining the Owner's
usual liability insurance. Optionally, the Owner may purchase and maintain other
insurance for self-protection against claims which may arise from operations
under this Part 2 Agreement. The Design/Builder shall not be responsible for
purchasing and maintaining this optional Owner's liability insurance unless
specifically required by the Contract Documents.

7.3 PROPERTY INSURANCE

7.3.1 Unless otherwise provided under this Part 2 Agreement, the Owner shall
purchase and maintain, in a company or companies authorized to do business in
the jurisdiction in which the principal improvements are to be located, property
insurance upon the Work to the full insurable value thereof on a replacement
cost basis without optional deductibles. Such property insurance shall be
maintained, unless otherwise provided in the Contract Documents or otherwise
agreed in writing by all persons and entities who are beneficiaries of such
insurance, until final payment has been made or until no person or entity other
than the Owner has an insurable interest in the property required by this
Paragraph 7.3 to be insured, whichever is earlier. This insurance shall include
interests of the Owner, the Design/Builder, and their respective contractors and
subcontractors in the Work.

7.3.2 Property insurance shall be on an all-risk policy form and shall insure
against the perils of fire and extended coverage and physical loss or damage
including, without duplication of coverage, theft, vandalism, malicious
mischief, collapse, falsework, temporary buildings and debris removal including
demolition occasioned by enforcement of any applicable legal requirements, and
shall cover reasonable compensation for the services and expenses of the
Design/Builder's Architect, and other professionals required as a result of such
insured loss. Coverage for other perils shall not be required unless otherwise
provided in the Contract Documents.

------------------------------------------------------------------------------
AIA DOCUMENT A191 - OWNER-DESIGN/BUILDER AGREEMENT - SECOND EDITION - AIA -
(C)1995 THE AMERICAN INSTITUTE OF ARCHITECTS, 1735 NEW YORK AVENUE, NW,
WASHINGTON, DC 20006-5292 - WARNING. Unauthorized photocopying violates U.S.
copyright laws and is subject to legal prosecution. This document was
electronically produced with permission of the AIA and can be reproduced without
violation until the date of expiration as noted below.

                                                   Electronic Format A191 - 1996
                                               User Document: ASPEN - 2/26/2001.
                 AIA License Number 109319, which expires on 1/2/2002 - Page #23

<PAGE>

7.3.3 If the Owner does not intend to purchase such property insurance required
by this Part 2 Agreement and with all of the coverage sin the amount described
above, the Owner shall so inform the Design/Builder prior to commencement of the
construction. The Design/Builder may then effect insurance which will protect
the interests of the Design/Builder and the Design/Builder's contractors in the
construction, and by appropriate Change Order the cost thereof shall be charged
to the Owner. If the Design/Builder is damaged by the failure or neglect of the
Owner to purchase or maintain insurance as described above, then the Owner shall
bear all reasonable costs properly attributable thereto.

7.3.4 Unless otherwise provided, the Owner shall purchase and maintain such
boiler and machinery insurance required by the Part 2 Agreement or by law, which
shall specifically cover each insured objects during installation and until
final acceptance by the Owner. This insurance shall include interests of the
Owner, the Design/Builder, the Design/Builder's contractors and subcontractors
in the Work, and the Design/Builder's Architect and other design professionals.
The Owner and the Design/Builder shall be named insureds.

7.3.5 A loss insured under the Owner's property insurance shall be adjusted by
the Owner as trustee and made payable to the Owner as trustee for the insureds,
as their interests may appear, subject to requirements of any applicable
mortgage clause and of Subparagraph 7.3.10. The Design/Builder shall pay
contractors their share of insurance proceeds received by the Design/Builder,
and by appropriate agreement, written where legally required for validity, shall
require contractors to make payments to their subcontractors in similar manner.

7.3.6 Before an exposure to loss may occur, the Owner shall file with the
Design/Builder a copy of each policy that

------------------------------------------------------------------------------
AIA DOCUMENT A191 - OWNER-DESIGN/BUILDER AGREEMENT - SECOND EDITION - AIA -
(C)1995 THE AMERICAN INSTITUTE OF ARCHITECTS, 1735 NEW YORK AVENUE, NW,
WASHINGTON, DC 20006-5292 - WARNING. Unauthorized photocopying violates U.S.
copyright laws and is subject to legal prosecution. This document was
electronically produced with permission of the AIA and can be reproduced without
violation until the date of expiration as noted below.

                                                   Electronic Format A191 - 1996
                                               User Document: ASPEN - 2/26/2001.
                 AIA License Number 109319, which expires on 1/2/2002 - Page #24

<PAGE>

that such claim, damage, loss or expense is attributable to bodily injury,
sickness, disease or death, or to injury to or destruction of tangible property
(other than the Work itself) including loss of use resulting therefrom, but only
to the extent caused in whole or in part by negligent acts or omissions of the
Design/Builder, anyone directly or indirectly employed by the Design/Builder or
anyone for whose acts the Design/Builder may be liable, regardless of whether or
not such claim, damage, loss or expense is caused in part by a party indemnified
hereunder. Such obligation shall not be construed to negate, abridge, or reduce
other rights or obligations of indemnity which would otherwise exist as to a
party or person described in this Paragraph 11.5.

11.5.2 In claims against any person or entity indemnified under this Paragraph
11.5 by an employee of the Design/Builder, anyone directly or indirectly
employed by the Design/Builder or anyone for whose acts the Design/Builder may
be liable, the indemnification obligation under this Paragraph 11.5 shall not be
limited by a limitation on amount or type of damages, compensation or benefits
payable by or for the Design/Builder under workers' compensation acts,
disability benefit acts or other employee benefit acts.

11.6     SUCCESSORS AND ASSIGNS

11.6.1 The Owner and Design/Builder, respectively, bind themselves, their
partners, successors, assigns and legal representatives to the other party to
this Part 2 Agreement and to the partners, successors and assigns of such other
party with respect to all covenants of this Part 2 Agreement. Neither the Owner
nor the Design/Builder shall assign this Part 2 Agreement without the written
consent of the other. The Owner may assign this Part 2 Agreement to any
institutional lender providing construction financing, and the Design/Builder
agrees to execute all consents reasonable required to facilitate such an
assignment. If either party makes such an assignment, that party shall
nevertheless remain legally responsible for all obligations under this Part 2
Agreement, unless otherwise agreed by the other party.

11.7     TERMINATION OF PROFESSIONAL
         DESIGN SERVICES

11.7.1 Prior to termination of the services of the Architect or any other design
professional designated in this Part 2 Agreement, the Design/Builder shall
identify to the Owner in writing another architect or other design professional
with respect to whom the Owner has no reasonable objection, who will provide the
services originally to have been provided by the Architect or other design
professional being terminated.

11.8     EXTENT OF AGREEMENT

11.8.1 This Part 2 Agreement represents the entire agreement between the Owner
and the Design/Builder and supersedes prior negotiations, representations or
agreements, either written or oral. This Part 2 Agreement may be amended only by
written instrument and signed by both the Owner and the Design/Builder.

------------------------------------------------------------------------------
AIA DOCUMENT A191 - OWNER-DESIGN/BUILDER AGREEMENT - SECOND EDITION - AIA-
(C)1995 THE AMERICAN INSTITUTE OF ARCHITECTS, 1735 NEW YORK AVENUE, NW,
WASHINGTON, DC 20006-5292 - WARNING. Unauthorized photocopying violates U.S.
copyright laws and is subject to legal prosecution. This document was
electronically produced with permission of the AIA and can be reproduced without
violation until the date of expiration as noted below.

                                                   Electronic Format A191 - 1996
                                               User Document: ASPEN - 2/26/2001.
                 AIA License Number 109319, which expires on 1/2/2002 - Page #25

<PAGE>

                                   ARTICLE 12
                          TERMINATION OF THE AGREEMENT

12.1     TERMINATION BY THE OWNER

12.1.1 This Part 2 Agreement may be terminated by the Owner upon 14 days'
written notice to the Design/Builder in the event that the Project is abandoned.
If such termination occurs, the Owner shall pay the Design/Builder for Work
completed and for proven loss sustained upon materials, equipment, tools, and
construction equipment and machinery, including reasonable profit and applicable
damages.

12.1.2 If the Design/Builder defaults or persistently fails or neglects to carry
out the Work in accordance with the Contract Documents or fails to perform the
provisions of this Part 2 Agreement, the Owner may give written notice that the
Owner intends to terminate this Part 2 Agreement. If the Design/Builder fails to
correct the defaults, failure or neglect within seven (7) days after being given
notice, the Owner may then give a second written notice and, after an additional
seven (7) days, the Owner may without prejudice to any other remedy terminate
the employment of the Design/Builder and take possession of the site and of all
materials, equipment, tools and construction equipment and machinery thereon
owned by the Design/Builder and finish the Work by whatever method the Owner may
deem expedient. If the unpaid balance of the Contract Sum exceeds the expense of
finishing the Work and all damages incurred by the Owner, such excess shall be
paid to the Design/Builder. If the expense of completing the Work and all
damages incurred by the owner exceeds the unpaid balance, the Design/Builder
shall pay the difference to the Owner. This obligation for payment shall survive
termination of this Part 2 Agreement.

12.2     TERMINATION BY THE DEIGN/BUILDER

12.2.1 If the Owner fails to make payment when due, the Design/Builder may give
written notice to the Design/Builder's intention to terminate this Part 2
Agreement. If the Design/Builder fails to receive payment within seven (7) days
after receipt of such notice by the Owner, the Design/Builder may give a second
written notice and, seven (7) days after receipt of such second written notice
by the Owner, may terminate this Part 2 Agreement and recover from the Owner
payment for Work executed and for proven losses sustained upon materials,
equipment, tools, construction equipment and machinery, including reasonable
profit and applicable damages.

                                   ARTICLE 13
                              BASIS OF COMPENSATION

The owner shall compensate the Design/Builder in accordance with Article 5,
Payment, and the other provisions of this Part 2 Agreement as described below.

13.1 COMPENSATION

13.1.1 For the Design/Builder's performance of the Work, as described in
Paragraph 3.2 and including any other services listed in Article 14 as part of
Basic Services, the Owner shall pay the Design/Builder in current funds the
Contract Sum as follows:

$2,301,238.00 (Two Million Three Hundred One Thousand Two Hundred Thirty Eight
Dollars and no/100 in monthly draws based on ninety percent (90%) of work
completed in the prior month.

------------------------------------------------------------------------------
AIA DOCUMENT A191 - OWNER-DESIGN/BUILDER AGREEMENT - SECOND EDITION - AIA-
(C)1995 THE AMERICAN INSTITUTE OF ARCHITECTS, 1735 NEW YORK AVENUE, NW,
WASHINGTON, DC 20006-5292 - WARNING. Unauthorized photocopying violates U.S.
copyright laws and is subject to legal prosecution. This document was
electronically produced with permission of the AIA and can be reproduced without
violation until the date of expiration as noted below.

                                                   Electronic Format A191 - 1996
                                               User Document: ASPEN - 2/26/2001.
                 AIA License Number 109319, which expires on 1/2/2002 - Page #26

<PAGE>

13.1.2 For Additional Services, as described in Paragraph 3.3 and including any
other services listed in Article 14 as Additional Services, compensation shall
be as follows: As agreed per approved change order authorizations.

13.2.2 FOR REIMBURSABLE EXPENSES, compensation shall be a multiple of ( ) times
the amounts expended.

13.3     INTEREST PAYMENTS

13.3.1 The rate of interest for past due payments shall be as follows:
Prime interest rate plus one percent

                                   ARTICLE 14
                          OTHER CONDITIONS AND SERVICES

14.1 The Basic Services to be performed shall be commenced on and, subject to
authorized adjustments and to delay caused by the Design/Builder, Substantial
Completion shall be achieved in the Contract Time of ( ) calendar days.

14.2 The Basic Services beyond those described in Article 3 are as follows:
One Hundred and Eighty Days (180)

14.3 Additional Services beyond those described in Article 3 are as follows:
Design and Construction of new 4000sf office/lab building

14.4 The Design/Builder shall submit an Application for Payment on the fifth
(5th) day of each month.

14.5 The Design/Builder's Proposal includes the following documents:

See the attached exhibit "A".

This Agreement entered into as of the day and year first written above.

OWNER                                DESIGN/BUILDER

      /s/ Roger Hurst                            /s/ Don Weaver
------------------------------       -------------------------------------------
(Signature)                          (Signature)

------------------------------------------------------------------------------
AIA DOCUMENT A191 - OWNER-DESIGN/BUILDER AGREEMENT - SECOND EDITION - AIA-
(C)1995 THE AMERICAN INSTITUTE OF ARCHITECTS, 1735 NEW YORK AVENUE, NW,
WASHINGTON, DC 20006-5292 - WARNING. Unauthorized photocopying violates U.S.
copyright laws and is subject to legal prosecution. This document was
electronically produced with permission of the AIA and can be reproduced without
violation until the date of expiration as noted below.

                                                   Electronic Format A191 - 1996
                                               User Document: ASPEN - 2/26/2001.
                 AIA License Number 109319, which expires on 1/2/2002 - Page #27

<PAGE>

                                   EXHIBIT "A"

                                 ASPEN BIO, INC.

                             CRITERIA SPECIFICATIONS

                                FEBRUARY 7, 2002

The following is a criteria specification used in preparing the quote for your
new facility, a 40,000 SF tilt up concrete building with 17,000 SF of office/lab
build out, and 23,000 SF of warehouse:

         - Complete plans and specifications

         - Permits and utility fees

         - 5" structural concrete slab

         - Tilt up wall panels for 18' clear height

         - Two (2) 10' x 12' overhead doors

         - Ten (10) year modified bituminous roof with R30 insulation

         - Landscape per code

         - 45,000 SF of asphalt paving

         - 1,200 amp, 480 volt, 3 phase electrical service

         - One (1) 5' x 9' concrete monument sign with signage by owner

         - Complete fire alarm and sprinkler system as required by code
           including additional footage to place sprinkler connection at the
           rear of the building

Interior Finish To Include:

         - 17,000 SF 2' x 4' acoustical ceiling

         - 1,200 LF 9' wall with paint and base

         - 33 Plastic-clad doors and aluminum frames

         - 2,150 SF glass and aluminum store front which includes an
           additional 1,104 SF at the request of Aspen Bio

         - Restrooms per code for office and lab

         - 17,000 SF of carpet and VCT

         - 50 tons of air conditioning with grilles and diffusers

         - 230-2' x 4' lay-in receptacles

         - 11- duplex receptacles

         - 40 phone boxes with conduit to ceiling space

Warehouse to include:

         - Heat for fire sprinkler protection

         - Minimum lights to meet code for future expansion

Exclusion:

         - Millwork, cold rooms and hoods by owner

         - Electrical distribution to owner's equipment by owner

<PAGE>

CHANGE ORDER                                         OWNER            [ ]
                                                     ARCHITECT        [ ]
                                                     CONTRACTOR       [ ]
AIA DOCUMENT G701 -                                  FIELD            [ ]
ELECTRONIC FORMAT                                    OTHER            [ ]

THIS DOCUMENT HAS IMPORTANT LEGAL CONSEQUENCES. CONSULTATION WITH AN ATTORNEY IS
ENCOURAGED WITH RESPECT TO ITS COMPLETION OR MODIFICATION. AUTHENTICATION OF
THIS ELECTRONICALLY DRAFTED AIA DOCUMENT MAY BE MADE BY USING AIA DOCUMENT D401.

PROJECT:
(name, address)                             CHANGE ORDER NUMBER:  One
Aspen Bio, inc.                             DATE:  April 9, 2002
1585 South Perry Street                     ARCHITECT'S PROJECT NO.:  N/A
Castle Rock, Colorado 80104

TO CONTRACTOR:                              CONTRACT DATE:  February 26, 2002
(name, address)                             CONTRACT FOR:
Urban Construction, Inc.
7437 Village Square Drive, Suite 200
Castle Rock, Colorado 80104
The Contract is changed as follows:
To include in the scope of work the tenant finish drawings as labeled and dated
per the attached exhibit "A" and an $80,000.00 allowance for millwork.

Not valid until signed by the Owner, Architect and Contractor.

<Table>
<S>                                                                                  <C>
The original (Contract Sum) was                                                      $  2,301,238.00
Net change by previously authorized Change Orders                                               0.00
The (Contract Sum) prior to this Change Order was                                       2,301,238.00
The (Contract Sum) will be (increased)
   By this Change Order in the amount of                                                  606,133.00
The new (Contract Sum) including this Change Order will be                           $  2,907,371.00
                                                                                     ---------------
</Table>

The Contract Time will be (unchanged) by   (____) days
The Date of Substantial Completion as of the date of this Change Order therefore
is unchanged

NOTE: This summary does not reflect changes in the Contract Sum, Contract Time,
or Guaranteed Maximum Price which have been authorized by Construction Change
Directive

<Table>
ARCHITECT                        CONTRACTOR                            OWNER
<S>                              <C>                                   <C>
Urban Construction, Inc.         Urban Construction, Inc.              Roger Hunt
Robert G. Hooper, AIA            Address:                              Address:
Address:                         7437 Village Square Dr., #200         8100 Southpark Way, Ste. B-1
7437 Village Sqr. Dr., #200      Castle Rock Colorado 80104            Littleton, Colorado 80120
Castle Rock, Colorado 80104
                                 By:                                   By:      /s/ Roger Hurst
                                    --------------------------             --------------------------
By:    /s/ Robert G. Hooper           Date:  4/25/02                   Date:    4/25/02
    -------------------------
Date:
</Table>

AIA DOCUMENT G701 - CHANGE ORDER - 1987 EDITION - AIA COPYRIGHT 1987 - THE
AMERICAN INSTITUTE OF ARCHITECTS, 1735 NEW YORK AVENUE N.W., WASHINGTON, D.C.
20006-5292. WARNING: Unlicensed photocopying violates U.S. copyright laws and is
subject to legal prosecution. This document was electronically produced with
permission of the AIA and can be reproduced without violation until the date of
expiration as noted below.
Electionic Format: G701-1987
User Document: ASPEN - 4/9/2001.
AIA License number 109319, which expires on 1/2/2002

<PAGE>

                                   EXHIBIT "A"

<Table>
<S>                                                                                     <C>
GENERAL
A.0           Title & Index                                                             2/25/02
A.03          Schedules & Details                                                       2/25/02
A.04          Finish Schedules/General                                                  2/25/02

CIVIL/STATE
SP1           Site Plan                                                                 2/25/02
SP2           Site Details                                                              2/14/02
L1.1          Landscaping Plan                                                          2/14/02

C0.1          Construction Notes                                                        3/01/02
C1.1          Horizontal Control Plan                                                   3/10/02
C2.1          Grading Plan                                                              3/01/02
C2.2          Drainage Plan                                                             3/01/02
C3.1          Utility Plan                                                              3/01/02
C4.1          Erosion Control Plan                                                      3/01/02
C4.2          Erosion Control Detail                                                    3/01/02
C5.1          Construction Details                                                      3/01/02
C5.2          Construction Details                                                      3/01/02
C5.3          Construction Details                                                      3/01/02
C5.4          Construction Details                                                      3/01/02
C5.5          Construction Details                                                      3/01/02

ARCHITECTURAL
A1.1          Floor Plan                                                                2/25/02
A1.2          Enlarged Office Imprv.                                                    2/25/02
A2.1          Reflected Ceiling Plan                                                    2/25/02
A3.1          Partition Type Plan                                                       2/25/02
A4.1          Sections & Details                                                        2/25/02
A4.2          Sections & Details                                                        2/25/02

STRUCTURAL
S1            General Notes and Typical Details                                         2/14/02
S2            Foundation Plan                                                           2/14/02
S3            Roof Framing Plan                                                         2/14/02
S4            Panel Elevations                                                          2/14/02
S5            Panel Schedules                                                           2/14/02
S6            Foundation Sections                                                       2/14/02
S7            Roof Framing Sections                                                     2/14/02
S8            Embed Plates                                                              2/14/02

MECHANICAL/ELECTRICAL/PLUMBING
M.1           Mechanical Schedules & Specs                                              3/01/02
M.2           HVAC Plan                                                                 3/01/02
M.3           Controls                                                                  3/01/02
M.4           Plumbing Floor Plan                                                       3/01/02
M.5           Plumb. Riser & Details                                                    3/01/02
M.6           Gas Piping Floor Plan                                                     3/01/02
E.01          SYMB/SPEC/L LINE/SCHED                                                    3/01/02
E1.1          Office Improvement Plan                                                   3/01/02
E.2           Lighting Plan                                                             3/01/02
E.3           Power Plan                                                                3/01/02
E.4           Schedules                                                                 3/01/02
</Table>EXHIBIT 10.1
                                                                    ------------

                         CONTRACT FOR PURCHASE AND SALE
                         ------------------------------

           THIS CONTRACT FOR PURCHASE AND SALE ("Contract") is made this 26th
day of June, 2002, by and between:

Seller:  Solitron Devices, Inc., a Delaware corporation
Buyer:   Port Salerno Industrial Park, LLC, a Florida limited liability company.

The Effective Date shall be the latest date that the contract is executed by
both parties.

           WITNESSETH

           WHEREAS, the Seller is the owner in fee simple of certain land
described below and on the survey attached as Exhibit "A" located in Martin
County Florida ("Subject Property"), and

           WHEREAS, the Seller is desirous of selling the Subject Property to
the Buyer, and the Buyer is desirous of purchasing the Subject Property from the
Seller,

           NOW THEREFORE, for and in consideration of TEN ($10.00) DOLLARS and
the mutual covenants described herein, the receipt and sufficiency of which
consideration the parties hereto acknowledge, Buyer and Seller hereby agree that
the Seller shall sell, subject to Seller obtaining its board's approval of the
sale within seven (7) days from the Effective Date, and Buyer shall buy the
Subject Property described below on the terms and conditions set forth in the
Contract.

           1.        SUBJECT PROPERTY.

                     A. SUBJECT PROPERTY: The Subject Property shall mean and
include all of the Seller's right, title, and interest in and to all that
certain real property ("Subject Property") in its present condition, being sold
and conveyed under the terms hereof, which is described as follows:

                     See attached Exhibit A.

                     B. ADDITIONAL INTERESTS: Seller shall also transfer to
Buyer all their right, title, and interest, if any, in and to the following:

                               (i) Alleys. Strips and Gores. All rights, title
and  interest of the Seller, if any, in and to all alleys, strips, or gores of
land, if any, lying within or adjacent to the Subject Property.

                               (ii) Leases. Permits. and Appurtenances. All
rights, title and interest of Seller, if any, in and to any leases, permits,
rights-of-way, rights of ingress or egress, or other interests in, on, or to any
land, highway, street, road or avenue, open or proposed, which abut or adjoin
the Subject Property. All the appurtenances and improvements thereunto belonging
or appertaining to the Subject Property which Seller has the legal right to
convey.

<PAGE>

                               (iii)  Minerals. All rights, title and interest
of Seller, if any, in and to all oil, gas and other minerals in, on or under,
and that May be produced from the Subject Property, if any.

                               (iv) Reversionary Rights. All rights, title and
interest of Seller in and to any reversionary rights, if any, attributable to
the Subject Property or said appurtenances.

                               (v) Sewer and Water. All rights, title and
interest of Seller in and to all sewage treatment capacity, if any, and water
capacity to serve the Subject Property.

           2.        DEPOSIT.

                     A. AMOUNT AND PAYMENT: The deposit required under this
Contract shall be the sum of Forty Thousand Dollars ($40,000.00), one half of
which shall be paid in escrow two days after the Effective Date and the second
half of which shall be paid upon the expiration of the Inspection Period. All
monies deposited under this Contract shall be referred to as the "Deposit."

                     B. ESCROW AGENT: The Buyer and Seller agree that the
deposit shall be paid to Leslie R. Evans & Associates, P.A.. Trust Account
("Escrow Agent") who shall be instructed to deposit the funds in an interest
bearing escrow account with an insured banking or savings and loan institution
doing business in the State of Florida.

                     C. DISBURSEMENT: Upon the expiration of the Inspection
Period and Buyer not having canceled the Contract pursuant to paragraph 4 A.,
Escrow Agent shall release to a separate escrow account, for the benefit of
Seller, $5,000.00 per month from the Deposit, as Buyer and Seller's agreed-upon
consideration to Seller for taking the Property off of the market and to help
defray the carry costs of the Property ("Non-Refundable Escrow"). The
Non-Refundable Escrow shall be applied to the Purchase Price if Buyer purchases
the Property. If, however, Buyer defaults or fails to purchase the Property
(except as expressly set forth herein), such Non-Refundable Escrow shall remain
non-refundable to Buyer and shall be transferred to the escrow entitled Port
Salerno Escrow Account currently held by the law firm of Gilbride, Heller &
Brown, P.A. for the benefit of the cleanup fund for the Property ("Port Salerno
Account"). The first $5,000.00 installment shall be released ninety days from
the Effective Date and every thirty days thereafter until the Deposit has been
fully released or the Closing has occurred. All monies released hereunder shall
be credited to Buyer at Closing, against the Purchase Price, but shall be
non-refundable unless Seller is in material, adverse (and uncured as of the
Closing Date beyond all applicable grace or cure periods) breach of the
Contract, in which case all monies released shall be reimbursed by Seller to
Buyer.

           3.        PURCHASE PRICE AND MANNER OF PAYMENT

                     A. PURCHASE PRICE: The Buyer and Seller agree that the
Purchase Price for the Subject Property shall be Eight Hundred Thousand Dollars
($800,000.00).

                                        2
<PAGE>

                     B. MANNER OF PAYMENT : At the time of closing, in addition
to the Deposit, which shall be paid to Seller by the Escrow Agent as set forth
above, the Buyer shall pay to the Seller, in the form of immediately available
funds by wire transfer to an account designated by Seller prior to Closing or by
cashier's check drawn on a bank or savings and loan acceptable to Seller, an
amount equal to Seller's Obligations as defined in paragraph 18 below ("Payment
to Seller"). The net balance between the Payment to Seller as hereinabove
provided and the total Purchase Price (hereinafter called the "Remainder
Payment") shall be paid by Buyer directly to the United States Environmental
Protection Agency (EPA), pursuant to a Prospective Purchaser Agreement (PPA) as
hereinafter provided for in Paragraph 4.E, to reduce the financial liability of
Seller to EPA, or, at Buyer's discretion, some portion of the Remainder Payment
may be placed in escrow for soil removal as described in subparagraph C. below.
Buyer acknowledges that an amendment to that certain Consent Final Judgment
dated October 21, 1993, in State of Florida Department of Environmental
Protection ("FDEP") v. Solitron Devices, Inc., Case No. 91-1232 CA (Martin
County Circuit Court), may be required to effect transfer of the Remainder
Payment to EPA. Prior to the Closing Date, Seller shall use its best efforts to
obtain FDEP's consent, either by amendment to the Consent Final Judgment or
through a separate signed waiver letter, to Buyer's payment to EPA pursuant to
PPA, or, at Buyer's election as provided in paragraph 3.C. below, into escrow
for the soil removal. In the event FDEP determines that such an amendment is
necessary and is not entered by the Closing Date, the Remainder Payment shall be
paid into the Port Salerno Account, if permitted by EPA in the PPA.

                     C. ESCROW FOR SOIL REMOVAL: At Closing, if Buyer shall
obtain from EPA, at Buyer's sole cost and discretion, EPA written approval of
all of the following, during the Inspection Period, and subject to Seller
obtaining from FDEP the amendment or waiver letter described in paragraph 3.B.
above, there shall be withheld from the Remainder Payment, and held in escrow
mutually established with EPA, an amount not to exceed the Remainder Payment to
be held in escrow (hereinafter the "Soil Escrow Payment") toward the cost to pay
for some or all of the excavation and off site disposal of soil as described in
the Record of Decision Declaration by the EPA dated November 1, 2000 ("ROD"),
the applicable portion of which is attached hereto as Exhibit B. In exchange
therefor, it is Seller's understanding (and Buyer shall obtain EPA's written
agreement to same during the Inspection Period) that EPA shall fully credit any
such escrowed amount against the Remainder Payment. In no event shall Seller be
obligated to escrow for soil removal except if Buyer obtains EPA's written
agreement to same, or to contribute or escrow more than its net proceeds to
accomplish all of the foregoing and Buyer agrees to same. Buyer and EPA may
agree that the amount to be held in escrow at closing shall be no more than the
Remainder Payment which shall be disbursed to the contractor hired by the Buyer
to remove and dispose of the soil. If the Remainder Payment is not adequate to
pay the cost of the soil removal, Buyer shall have the option, but not the
obligation, to fund into the soil removal escrow such additional amounts
necessary to accomplish any shortfall in the soil removal escrow between the
Soil Escrow Payment and the agreed amount between the Buyer and the EPA. Seller
and EPA must approve the contractor and contract for the soil removal and
disposal. Nothing herein shall obligate Buyer to remove any contaminated soil as
described in the ROD or to pursue EPA approval to hold sale proceeds in escrow
for the soil removal.

           4.        INSPECTION; EPA APPROVAL.

                     A. INSPECTION PERIOD: For ninety days commencing upon the
Effective Date, Buyer and its representatives shall have the right to inspect
the Subject Property and to evaluate reports prepared at Buyer's expense,
regarding drainage, utilities, zoning, environmental matters, soil conditions,
subsurface investigations, survey matters, traffic conditions, architectural
studies and designs, marketing studies, and such other reports and studies as
Buyer deems necessary in order for Buyer to determine if the Subject Property
meets Buyer's needs, including

                                        3
<PAGE>

Buyer obtaining from the EPA and the United States Department of Justice
("DOJ"), a PPA acceptable to Buyer's counsel and the appraisal required by EPA
("Inspection Period"). Seller agrees to use reasonable efforts, short of
incurring expense, to assist Buyer in obtaining information regarding the
Subject Property. If FDEP determines that an amendment to the Consent Final
Judgment referenced in paragraph 3.B. above is necessary and such amendment is
not entered into by the end of the Inspection Period, or Buyer has not secured
pursuant to paragraph 4 E., the EPA's consent to pay the Remainder Payment into
the Port Salerno Escrow Account, Buyer at its sole discretion may terminate this
Contract and receive return of the Deposit. If Buyer fails to terminate this
Contract by the end of the ninety days, Buyer agrees to take title to the
Property "AS IS, WHERE IS" condition, without representation or warranty of
Seller surviving the Closing.

                     B. INSPECTION ACCESS : Seller agrees to provide complete
access to the Subject Property for Buyer and its representatives during the
Inspection Period. All inspections are to be undertaken at the sole cost, risk,
and expense of Buyer. Buyer agrees to provide reasonable notice to Seller and
EPA in advance of all inspections, testings, and examinations to be conducted on
the Subject Property and to provide Seller with copies of all reports, tests,
studies, zoning reports and filings, and all other work product pertaining to
the inspections should Buyer elect not to proceed with the transaction. Buyer
shall require its consultants to provide proof of liability insurance, or
certificates of insurance and name Seller as insured (except with respect to
errors and omissions and workers' compensation liability insurance), prior to
conducting any inspections. Buyer shall defend, indemnify, and hold Seller
harmless from any and all claims, demands and damages arising out of and
resulting from this access to the Subject Property, including, without
limitation, any claims for construction liens asserted under authority of
Chapter 713, Florida Statutes, except for such claims, demands, or damages
caused by Seller or their agents or arising from pre-existing latent defects or
conditions in the Subject Property. Should any such claims arise, Buyer shall
not be entitled to a release of the Deposits until such claims are resolved.
Prior to the closing, if any notice to owner or claim of lien is filed by any of
Buyer's contractors, subcontractors, professionals, laborers, or materialmen,
Buyer shall promptly obtain a release of lien from the claimant or lienor, or,
alternatively, where appropriate, Buyer may transfer such a lien to a cash bond
pursuant to the requirements of Chapter 713, Florida Statutes. Prior to closing,
Buyer agrees that all contracts or agreements regarding the Subject Property
with any and all of Buyer's contractors, subcontractors, professionals,
laborers, and materialmen shall contain language substantially similar to the
following: "Buyer hereby represents that it is the Contract Purchaser and not
the owner of the Subject Property. The Buyer shall be responsible for all
payments due under this agreement, and the interest of the owner of the Subject
Property shall not be subject to liens for improvements, services, materials or
labor made by or on behalf of the Buyer." These obligations shall survive
termination or expiration of this Contract. Buyer agrees that it will restore
any material damage to the Subject Property substantially to the condition
existing prior to Buyer's entry.

                     C. DISCLOSURE OF INFORMATION AND RELEASE: Buyer
acknowledges that Seller has fully disclosed to Buyer the type and extent of
Hazardous Material contamination affecting the Property, that the Subject
Property is a Superfund Site, and that, as of June of 2002, the Robert Morgade
Library, 5851 SE Community Drive, Martin County Library System, Stuart, Florida,
was the repository of the administrative record for the Superfund Site, which
includes environmental reports describing the nature of the environmental
impacts EPA contends are present at the Subject Property ("Property
Contamination"). If Buyer timely elects to proceed to purchase the Subject
Property, Buyer, on behalf of itself and its heirs, successors and assigns,
hereby waives, releases, acquits and forever discharges Seller, its officers,
directors, partners, shareholders, employees, agents, representatives and any
other person acting on behalf of Seller, and the successor and assigns of any of
the preceding, of and from any and all claims, actions, causes of action,
demands, rights, damages, costs, expenses or compensation

                                        4
<PAGE>

whatsoever, direct or indirect, known or unknown, foreseen or unforeseen, which
Buyer or any of its heirs, successors or assigns now has or which may arise in
the future on account of or in any way related to or in connection with any
past, present or future physical characteristic or condition of the Subject
Property, including, without limitation, any Hazardous Materials in, at, on,
under or related to the Subject Property, or any violation or potential
violation of any Governmental Requirement applicable thereto. This release shall
survive the Closing. At Closing, Buyer shall execute a Hazardous Materials
Release in recordable form containing substantially the same language set forth
in this paragraph. The Hazardous Materials Release May be recorded with the Deed
after Closing, at Seller's sole discretion.

                     D. CANCELLATION NOTICE: Within 90 days from the Effective
Date, Buyer may cancel this contract if, in Buyer's sole discretion and for any
reason, it determines that the Subject Property is not suitable for its intended
use. Buyer shall give written notice of cancellation ("cancellation notice") to
Seller, and Escrow Agent, it being understood that Buyer's failure to deliver
the cancellation notice prior to the end of the Inspection Period shall be
deemed to constitute: (i) a waiver of Buyer's right to cancel this Contract
under this paragraph 4 and (ii) an affirmative election by Buyer to close on
this Contract, subject to the other contingencies set forth in the Contract. If
Buyer delivers the cancellation notice to Seller and Escrow Agent prior to the
end of the Inspection Period, the Seller shall promptly acknowledge in writing
the receipt of the cancellation notice. A copy of such acknowledgment shall be
sent to the Escrow Agent who shall promptly return thereafter the Deposit to
Buyer. If Seller fails to acknowledge receipt of the cancellation notice within
seven (7) days of delivery to Seller, the parties agree that the Escrow Agent is
instructed to return the Deposit along with the accrued interest to the Buyer
notwithstanding the failure of Escrow Agent to receive the Seller'
acknowledgment of the cancellation notice. Upon receipt of the Deposit by Buyer,
the parties agree that this Contract shall terminate and be of no further force
or effect except for Buyer's liability to indemnify and hold Seller harmless
under paragraph 4B. and the obligation to provide work product under paragraph
4.

                     E. PROSPECTIVE PURCHASER AGREEMENT: During the Inspection
Period, Buyer shall have negotiated a final Prospective Purchaser Agreement
("PPA") with EPA and DOJ in a form acceptable to Buyer's counsel and which will
become effective prior to the Closing Date. At Buyer's request Seller shall
cooperate with Buyer in connection with Buyer's negotiation with the EPA to
obtain the PPA; provided, however, the Seller's obligation to Buyer under this
Purchase Agreement shall not require Seller to expend funds in excess of
$1,000.00 (including, but not limited to, Seller's legal fees and costs, but not
including the time of Seller's employees). The PPA shall provide that, in
consideration of the receipt by EPA of the Remainder Payment to reduce the
financial liabilities of Seller to EPA or the payment of the Remainder Payment
into the Port Salerno Account in the event that FDEP determines that an
amendment to the Consent Final Judgment referenced in paragraph 3.B above is
required and the amended judgment is not entered into by the Closing date, any
and all EPA liens on the Subject Property shall be released of public record.
Buyer agrees to contact EPA within fifteen (15) days from the Effective Date to
begin diligent negotiations with EPA and DOJ on the PPA. Seller shall have the
right to be part of all negotiations with EPA and DOJ, and in any event, Buyer
shall copy Seller on all correspondence with EPA and DOJ regarding the Subject
Property and shall give Seller periodic written updates of its diligent efforts
in such negotiations.

                                        5
<PAGE>

                     F. EPA ACCEPTANCE OF CONTRACT: Buyer shall, at its sole
cost and expense, obtain an appraisal of the Subject Property, using an
appraisal firm acceptable to the EPA and provide the appraisal to EPA in a
timely fashion to initiate EPA's review of the Purchase Price and this Contract.
Buyer acknowledges that Seller contacted the EPA to seek its review and comments
on this Contract and that the Parties have revised this Purchase Agreement to
accommodate those comments expressed by EPA and the Parties believe that any
remaining comments can be addressed in the PPA to be negotiated between Buyer
and EPA. If the appraisal results in a value such that the EPA requires Buyer to
pay a premium over the Purchase Price, based upon the appraised value (but in no
event shall Seller be obligated to pay any additional amounts, or to accept a
lower Purchase Price), Buyer shall have until the end of the Inspection Period
to negotiate a new, higher purchase price with the EPA, or Buyer can elect to
terminate the Contract and receive a return of its Deposit, and thereafter the
parties shall have no obligation to each other, except as provided in paragraph
4.B herein.

           5.        TIME FOR ACCEPTANCE AND EFFECTIVE DATE.

           If this offer is not accepted by both of the parties hereto on or
before 5:00 p.m. June 27th 2002, this offer shall be null and void.

           6.        CLOSING DATE AND PLACE OF CLOSING.

           The closing of this Contract shall be held at 10:00 a.m. on the 30th
day after the date on which the Buyer has satisfied all contingencies, whichever
date last occurs. Notwithstanding the previous sentence, in no event shall the
Closing take place later than two hundred seventy (270) days after the Effective
Date, unless the Contract has been extended in accordance with paragraph 8
("Closing"). In any event, the Closing shall be no later than 330 days from the
Effective Date. The Closing shall be held at the Seller's closing agent's
offices unless otherwise mutually agreed by the parties.

           7.        TITLE EVIDENCE.

                     A. TITLE COMMITMENT: Within 30 days after the expiration of
the Inspection Period, Seller shall deliver to Buyer a title commitment issued
by a title insurance company reasonably acceptable to Buyer undertaking to
insure title to the Subject Property, in the amount of the Purchase Price.

                     B. EXCEPTIONS TO TITLE: The Subject Property shall be sold,
and good and marketable title thereto shall be conveyed, subject to those
matters set forth on Exhibit B attached hereto and made a part hereof
("Permitted Exceptions"), which Permitted Exceptions shall not include any
liens. If the Permitted Exceptions are not available when this Contract is
executed, they shall be provided to Buyer within 30 days thereof, with hard
copies of such exceptions. Buyer shall have until the expiration of the
Inspection Period to accept the Permitted Exceptions or cancel the Contract and
receive its Deposit.

                     C. TITLE INSURER: The title insurer shall issue to Buyer,
upon recording of the special warranty deed (and discharge of all liens,
obligations, and mortgages, if any, which are to be satisfied by Seller at or
before the Closing) an owner's title insurance policy insuring title in the
Buyer to the Subject Property subject only to the Permitted Exceptions, none of
which shall be deemed to constitute a title defect hereunder.

                     D. TITLE EXAMINATION: Buyer shall have 10 business days
from the date of receiving the title commitment to examine it. If title does not
conform to the requirements of this Contract, Buyer shall within 10 days of
receipt of the title commitment, notify Seller in writing specifying the
defects. Except as provided herein, the parties understand and agree that no

                                        6
<PAGE>

postponement, extensions, or modifications in the date of termination of the
Inspection Period shall be available to Buyer for title defects or any other
reason or cause. If title is not good, marketable, and free of exceptions that
would prevent Buyer from using the Property for its business, Seller shall have
120 days from receipt of notice within which to remove the defect(s) and Closing
may be postponed accordingly. Seller shall use reasonable efforts to remove the
defect; not to include the filing of a lawsuit to have the defect removed. If
Seller is unsuccessful in removing such defects prior to Closing and notifies
Buyer, in writing, of its unsuccessful efforts to remove said defects, Buyer
shall have the option of either (1) accepting the title as it then is with no
reduction in the Purchase Price, or (2) demanding a refund of the Deposit paid
hereunder together with any interest which may have accrued on the Deposit, if
any, which shall be promptly returned to the Buyer, after which time Buyer and
Seller shall be released as to one another, of all further obligations under
this Contract. Any such cancellation shall be treated in the same manner as the
receipt of a cancellation notice described in Paragraph 4 above. If Buyer fails
to make such election with the Inspection Period, or if Buyer shall fail to give
timely notice to Seller of the defects in title within the time specified, then,
Buyer shall be deemed to have agreed that Seller's title conforms to the
requirements of this Contract. Seller agrees that if title does not conform to
the requirements of this Contract, and Buyer gives timely notice of same, it
will use reasonable effort, which will not include the bringing of necessary
suits, to correct the defect(s) in title as provided hereinabove.

           8.        CONTINGENCIES.

           Buyer and Seller understand and agree that the Closing of this
Contract is contingent upon the following:

                     A. SITE APPROVAL; UTILITIES:

                               (i) The Buyer, at Buyer's sole cost and expense,
obtaining site approval from the Martin County Commission to allow it to conduct
its proposed use of the Property. If Buyer is unable to obtain the required site
approval acceptable to Buyer within 270 days from the Effective Date, Buyer may
extend the time period (upon prior written notice to Seller) to obtain site plan
approval and close for up to two thirty (30) day periods, provided that: (a)
Buyer documents its timely diligent efforts to obtain site plan approval to
Seller's reasonable satisfaction, and (b) if not precluded by any requirement of
EPA (in which case Seller shall have the right in its sole discretion to
terminate this Contract, Buyer shall receive back its Deposit and neither party
shall have any rights or obligations hereunder except as provided in paragraph
4.B. herein), Buyer treats as non-refundable (and same is held as the
Non-Refundable Escrow in accordance with paragraph 2.C. herein) the sum of
$5,000.00 for each 30 day extension which shall be non-refundable, unless Seller
breaches the Contract, and which shall be applied to the Purchase Price.

                               (ii) Buyer shall, at Buyer's expense during the
Inspection Period, satisfy itself that there are sewer and water services and
capacity sufficient to serve the proposed use, as required under paragraph 8A(i)
above, shall be available at a boundary line of the Subject Property.

                     B. BUYER'S OBLIGATIONS RE: APPROVALS: Buyer shall
diligently and in good faith pursue the required governmental and utility
approvals (in Seller's name and with Seller's cooperation), all at Buyer's sole
cost and expense, including any governmentally authorized impact fee, and shall
provide Seller with copies of all documentation of its efforts. If off-site
improvements are imposed by any governmental authority as a condition to
approving Buyer's site plan, Buyer shall pay for those improvements.

                                        7
<PAGE>

           If Buyer is unable to satisfy the conditions set forth in the above
paragraphs A and B Buyer may (i) terminate the Contract and receive a return of
its deposit, except for that portion of the Deposit which has been paid to
Seller under paragraph 2 C. above, up until the time of Buyer's rightful
termination hereunder, or (ii) waive the conditions and close.

           9         REPRESENTATIONS OF SELLER

           To induce Buyer to enter into this Contract, Seller makes the
following representations to its actual knowledge, without any additional due
inquiry or inspection, which representations shall merge with the deed at
Closing and shall not survive the Closing:

                     A. AUTHORITY: The Seller owns legal and beneficial title to
the Subject Property free and clear of all liens and encumbrances subject to and
for the Permitted Exceptions. Seller has full legal power and right to enter
into this Contract and to sell the Subject Property to Buyer. This Contract
constitutes a legal, valid and binding obligation of the Seller, and is
enforceable in accordance with its terms. The execution and delivery of this
Contract and the consummation of the sale does not violate any agreement or
instrument to which the Seller is a party or which encumbers the Subject
Property; and does not violate any provision of law or any applicable judgment,
order or decree of any court or governmental agency having jurisdiction over the
Seller or the Subject Property.

                     B. VIOLATIONS: Except as stated herein, Seller knows of no
violation of law, statute, ordinance or code of any federal, state, county,
municipal or other governmental agency relating to the Subject Property. Seller
has received no notice of any violation of law, statute, ordinance, or code of
any federal, state, county, municipal or other governmental agency relating to
the Subject Property, and the Seller has no reason to believe that any such
notice may be received, other than those disclosed in the ROD and as set forth
in paragraph 4 C. above.

                     C. LITIGATION: Except as stated herein, to the best of
Seller's knowledge and belief, there are no pending or threatened, judicial,
municipal or administrative proceedings against or affecting the Subject
Property. Without limiting the generality of the foregoing, to the best of
Seller's knowledge and belief, there are no eminent domain proceedings pending
or threatened against the Subject Property, and there are no announced plans to
condemn any part of the Subject Property.

                     D. LIENS; OBLIGATIONS: The Seller represents and warrants
that no services, material, or work have been
supplied to the Seller or to the Seller's contractors, subcontractors, or
materialmen with respect to the Subject Property for which payment has not been
made in full, or for which Seller has not made arrangements for payment. If,
prior or subsequent to the Closing Date, any construction lien or other lien,
charge, or order for the payment of money shall be filed against the Subject
Property or against the Buyer based upon any act or omission, or alleged act or
omission before or after the Closing Date, of the Seller, their agents,
servants, or employees, or any contractor, subcontractor, or materialman
connected with any construction and completion by the Seller of improvements at
the Subject Property, or repairs made to the Subject Property by or on behalf of
the Seller (whether or not such lien, charge, or order shall be valid or
enforceable as such), within ten (10) days after notice to the Seller of the
filing thereof, the Seller shall take such action, by bonding, deposit, payment
or otherwise, as will remove or satisfy such lien of record against the Subject
Property.

                                        8
<PAGE>

                     E. HAZARDOUS WASTES: Except as disclosed to Buyer in the
ROD, the Subject Property, prior to and during Seller's ownership thereof, to
Seller's actual knowledge, was not used for the handling, storage,
transportation, or disposal of hazardous or toxic materials. Seller has no
actual knowledge of the existence of any hazardous or toxic materials on the
Subject Property other than as disclosed in the ROD and as set forth in
paragraph 4.C. above or the existence of fuel storage tanks on the Subject
Property or which have been removed from the Subject Property. Except with
respect to the matters addressed in the ROD, Seller knows of no pending or
threatened action, notice, claim or investigation under the Federal
Comprehensive Environmental Response Compensation and Liability Act (CERCLA)
relating to the Subject Property or under any other environmental law, statute,
ordinance or code of any federal, state, county, municipal or other governmental
agency relating to the Subject Property. Seller has received no written notice
from any governmental entity of, nor does Seller have actual knowledge of the
existence of, any violation of law, statute, ordinance, or code of any federal,
state, county, municipal or other governmental agency concerning hazardous or
toxic materials relating to the Subject Property, other than as disclosed to
Buyer in the ROD and as set forth in paragraph 4.C. above.

                     F. ACCESS TO SUBJECT PROPERTY: Easements, Financial
Obligations: Seller has no knowledge of any Federal, State, County or municipal
plans to change the road system in the vicinity of the Subject Property or to
restrict or change access from any road to the Subject Property or of any
pending or threatened condemnation of the Subject Property or any part thereof
or of any plans for improvements which might result in a special assessment
against the Subject Property except as stated herein.

                     G. UNRECORDED CLAIMS AND CLOUDS ON TITLE: Other than the
Seller, there are no other parties in possession of the Subject Property other
than existing tenants. The Seller has no knowledge of any rights or claims not
shown in the public records by any party. The Seller has no knowledge of any
easements or claims of easements not shown in the public records.

                     H. REMEDIES FOR MISREPRESENTATION: If prior to Closing,
Buyer becomes aware that any of the representations set forth in this Paragraph
are materially and adversely untrue, Buyer shall notify Seller in writing as
soon as reasonably possible of any representations which Buyer discovers to be
untrue. Seller shall be given a reasonable time to correct or cure such
representations and the Closing shall be delayed until such time as the defect
arising from the misrepresentation can be cured. If Seller fails to cure or
correct such representations within a reasonable period of time, Buyer's sole
remedy shall be the right to cancel this Contract by written notice to Seller
and obtain from Seller reimbursement of all sums expended by Buyer regarding its
inspection of this Subject Property, provided, however, that Buyer may elect to
waive any such matters and close this Contract. If Buyer shall elect to cancel
this Contract, then the parties agree that such a cancellation shall be treated
in the same manner as a receipt of a cancellation notice described in Paragraph
4 above. Seller agrees that in the event any of the representations set forth in
this paragraph are untrue, it will use commercially reasonable effort, which
will not include the bringing of necessary suits, to correct and cure such
representations and warranties. "Materially and adversely untrue" shall mean a
representation that affects the quality of title or results in damages to Buyer
which costs at least $500.00 to cure.

                                        9
<PAGE>

           10.       COVENANTS OF SELLER.

           Seller covenants and agrees that, prior to the Closing of the Subject
Property, the Seller will:

                     A. LEASES: Not execute any leases or agreements of any kind
on any portion of the Subject Property;

                     B. ACCESS: Provide Buyer, and Buyer's representatives and
agents, access to the Subject Property at all reasonable times;

                     C. SETTLEMENT: Not enter into any settlement of any
condemnation proceedings or eminent domain proceedings affecting the Subject
Property without the prior written consent of Buyer.

           11.       REPRESENTATIONS OF BUYER.

                     A. AUTHORITY: Buyer has the authority to acquire the
Subject Property.

                     B. NO VIOLATION: Buyer has full legal power and right to
enter into this Contract and to purchase the Subject Property from Seller
without the need for consent or joinder of any other person or entity. This
Contract constitutes a legal, valid and binding obligation of the Buyer, and is
enforceable in accordance with its terms. The execution and delivery of this
Contract and the consummation of the transactions contemplated by Buyer does not
violate any agreement or instrument to which the Buyer is a party, and does not
violate any provision of law or any applicable judgment, order or decree of any
court or governmental agency having jurisdiction over Buyer.

           12.       COVENANTS OF BUYER.

           The parties agree that any reference to Buyer in subparagraphs A and
B below shall include Buyer's agents, employees, contractors, and
subcontractors.

                     A. LIENS: Prior to closing, Buyer shall not allow any lien
to be placed on the Subject Property, which may have resulted from or related to
Buyer's activities on the Subject Property. If such a lien is recorded, and
Buyer is notified in writing of the lien, Buyer shall within twenty (20) days
discharge, satisfy, or transfer such lien to bond at Buyer's expense. Buyer
agrees that the provisions of this paragraph 12 B. shall survive the termination
of this Contract.

                     B. INSURANCE: Buyer shall, prior to commencing inspections,
provide evidence to Seller that its agents, contractors or subcontractors
maintain insurance to cover losses arising out of the activities of the Buyer,
its agents, its contractors, or subcontractors on the Subject Property
consistent with what it maintains in the ordinary course of its business.
Certificates evidencing the minimum insurance policies shall be delivered by
Buyer to Seller prior to entry on to the Subject Property by Buyer, its agents
or contractors. Buyer may not hire any person or company to do perform any
services on the Subject Property for Buyer unless the person or company is duly
licensed and insured consistent with the requirements of this paragraph.

                     C. BUYER'S DILIGENT EFFORT: Buyer shall in good faith
pursue the required approvals (in Seller's name, if necessary or appropriate,
and with Seller's cooperation)

                                       10
<PAGE>

required under paragraph 8, all at Buyer's sole cost and expense. Upon Seller'
request, Buyer will keep Seller informed of Buyer's progress before such
governmental or utility authorities and provide Seller with copies of all
documents sent or received regarding the Subject Property, and shall provide
Seller with at least seven (7) days notice of Buyer's appearance at any public
hearing regarding Buyer's plans for the Subject Property.

           13.       BROKERS.

           Buyer and Seller hereby represent and warrant to each other that they
have not discussed or otherwise communicated the subject matter of this Contract
for Purchase and Sale with any Broker, agent or salesman, so as to create any
legal right in any person or entity to claim a real estate commission or similar
fee with respect to the transaction contemplated herein other than Jeff
Chamberlain of SLC Commercial Realty & Development and Chuck Pellitera of Hoyt
C. Murphy Realtors. Seller is responsible for the payment of all brokerage fees
arising from this Contract, as and when (if ever) the transaction closes and
funds, and out of Seller's net proceeds from the sale. Each party agrees to
indemnify and hold harmless the other from and against any claims arising out of
or in any way connected with any claimed brokerage relationship with the
indemnifying party. In any litigation arising out of this Contract concerning
any Broker's fee, the prevailing party shall be entitled to recover reasonable
attorney fees and costs at trial and appellate levels. The provisions of this
paragraph 13 shall survive the closing.

           14.       DEFAULT.

           Except for the privilege to cancel this Contract within the
Inspection Period or upon any contingency not being met, if Buyer fails to
perform within the time specified, or otherwise defaults under this Contract,
(including the payments of any Deposit hereunder), the Escrow Agent shall pay
over and Seller shall retain as liquidated damages the Deposits or Deposit paid
by Buyer as consideration for the execution of this Contract, and in full
settlement of any claims; whereupon Buyer and Seller shall be relieved of all
further obligations hereunder. If, for any reason other than failure of Seller
to render title which complies with the requirements of this Contract after
diligent effort, Seller fails, neglects, or refuses to perform under any
material provision of this Contract upon written notice to Seller of such
failure and a reasonable period of time to cure same, the Buyer shall have the
right to seek specific performance, or elect to receive the return of the
Deposit paid by Buyer, with all interest which May have accrued thereon, without
waiving any action for damages resulting from Seller's breach. Except as
provided in paragraph 9H (REMEDIES FOR MISREPRESENTATION), the foregoing shall
be the sole remedies of the parties.

                     If either party defaults under the terms of this Contract,
the party claiming the other to be in default shall notify the defaulting party,
in writing, of the default at least 5 days prior to taking any action with
respect to the default during which time the defaulting party may cure the
default or commence and diligently pursue cure of a default which cannot be
cured within 5 days.

           15.       NOTICES.

           All notices, requests, demands, instructions, consents and other
communications required or permitted to be given pursuant to this Contract shall
be in writing and shall be deemed to have been duly given if and when (a)
personally served, (b) sent by first

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<PAGE>

class certified or registered mail, postage prepaid, return receipt requested,
(c) transmitted by prepaid telegram, telex, or facsimile, or (d) sent by a
nationally recognized express courier service, postage or delivery charges
prepaid to the parties at the addresses set forth below, or at such other
address as any of them shall hereafter specify in writing or by facsimile
transmission. The addresses for notices are as follows:

           To the Buyer:             David C. Tassell, Esq.
                                     Joseph C. Kempe, P .A.
                                     941 North Highway AlA Jupiter, FL 33477
                                     Tel: (561) 747-7300 Fax: (561) 747-7722

           To the Seller:            Leslie R. Evans, Esq.
                                     214 Brazilian Avenue
                                     Suite 200
                                     Palm Beach, Florida  33480
                                     Tel: (561) 832-8288 Fax: (561) 832-5722

           16.       PRORATIONS OF REAL ESTATE TAXES.

           Prior unpaid years' taxes and associated tax liens and tax
certificates shall be paid by Seller out of its net sale proceeds at Closing.
Real estate taxes for the year of closing will be prorated based on the current
year's tax with due allowance made for the maximum allowable discount. The taxes
will be prorated through the date of Closing by credits to or debits from the
cash due at Closing. If Closing occurs on a date when the current year's millage
is not fixed and the current year's assessment is available, taxes will be
prorated based upon such assessment and the prior year's millage. If the current
year's assessment is not available, then taxes will be prorated on the prior
year's tax. If the prior year's tax bill assesses land of which the Subject
Property is a part of, the tax shall be estimated by dividing the acreage of the
Subject Property by the total acreage shown on the tax bill. The resulting
percentage shall be multiplied by the tax liability to determine the amount of
real estate taxes for the Subject Property. Any tax proration based on an
estimate shall, at the request of either party to the transaction, be
subsequently adjusted upon the receipt of the tax bill for that year, provided,
however, that no adjustments shall be made which are attributable to
improvements made by the Buyer. The parties agree to execute a tax reproration
agreement at the time of Closing evidencing the foregoing agreement to reprorate
taxes upon the receipt of the tax bill for the year of Closing. The provisions
of this paragraph 16 shall survive the Closing.

           17.       DOCUMENTS AT CLOSING AND CLOSING PROCEDURE.

                     A. SELLER'S DOCUMENTS: At Closing, Seller shall deliver the
following documents to Buyer, all of which shall be acceptable, in form and
substance, to Buyer's attorney.

                               (i) A special warranty deed to the Subject
Property subject only to the Permitted Exceptions found on Exhibit B (less any
deleted by the Title Insurer).

                               (ii) Construction Lien Affidavit. A duly executed
and sworn construction lien affidavit acceptable to Buyer's counsel and Buyer's
title insurer, if any.

                               (iii) Title Insurance Requirements. All documents
and instruments established as requirements for issuance of the title insurance
policy as set forth in Buyer's title commitment, if any, and such affidavits as
the title insurer shall reasonably require in order to insure the gap at
Closing.

                               (iv) Non-Foreign Affidavit. Non-Foreign affidavit
in accordance with this Contract.

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<PAGE>

                               (v) Tax Reproration Agreement. A tax reproration
agreement in accordance with this Contract.

                               (vi) Assignment of Permits. An assignment of all
permits, if any, applicable to the Subject Property.

                     B. BUYER'S DOCUMENTS: At Closing, Buyer shall deliver the
following to Seller:

                               (i) The Payment to Seller as provided in
paragraph 3.B. above.

                               (ii) Evidence of the transmittal of the Remainder
Payment as provided in paragraph 3.B. above.

                               (iii) Title Insurance Requirements. Such
affidavits as the title insurer shall reasonably require in order to insure the
gap at Closing.

                               (iv) Fully executed PPA with the EPA and DOJ.

           18.       EXPENSES OF CLOSING.

           State documentary stamps to be affixed to the special warranty deed,
the cost of recording any corrective instruments and the cost of recording the
special warranty deed shall be paid by the Seller from the Payment to Seller as
defined in paragraph 3.B. above. The fee owner's title policy premium and other
title related costs such as abstract, search, examination and closing fee shall
be paid by Seller from the Payment to Seller at Closing. Documentary stamps and
intangible tax on the Buyer's mortgage, recording fees for the mortgage, and the
mortgagee title insurance premium at the simultaneous issue rate, as well as the
Property appraisal required by EPA, shall be paid by the Buyer. Seller's
attorneys fees and all tax liens, tax certificates, unpaid ad valorem taxes due
and payable as of Closing, and the broker fees, and any other costs or expenses
due from Seller as specified herein ("Seller's Obligations") shall be paid from
the Payment to Seller.

           19.       ATTORNEY FEES AND COSTS.

           Each party shall be responsible for the payment of its own attorney's
fee for advice, representation, and the preparation of documents delivered or
required in connection herewith. If any litigation (including appellate
proceedings) arises out of this Contract, the prevailing party shall be entitled
to recover reasonable attorney's fees and costs, including appellate fees and
costs.

           20.       SURVEY.

           Seller agrees to provide Buyer with a print of Seller's most recent
survey of the Subject Property, if any. Thereafter, the Buyer may have the
Subject Property surveyed at its expense. If the survey prepared for Buyer,
certified by a registered Florida surveyor, shows any encroachment on the
Subject Property , the same shall be treated as a title defect. Any survey
prepared for Buyer in connection with or as a consequence of this Contract shall
include a description on the Subject Property prepared under the Florida
Coordinate System as defined in Chapter 177, Florida Statutes.

                                       13
<PAGE>

           21.       NON-FOREIGN AFFIDAVIT.

           Seller shall deliver to the Buyer at closing an affidavit, which
shall be sworn to by an authorized individual on behalf of the Seller, and that
Seller is not a "foreign person" as defined in the Internal Revenue Code and
related regulations, and which states the state within the United States under
which the Seller was organized and exists. If the Seller refuses or is unable to
deliver to the Buyer the appropriate non-foreign affidavit prior to closing,
then the Buyer shall have the right to withhold at closing an amount in cash
equal to ten percent ( 10% ) of the "Amount Realized", as such term is defined
by Temporary Regulations Section 1.1445-1 T(g) (5), and the Buyer shall forward
such sum to the Internal Revenue Service as withholding tax under Internal
Revenue Code Section 1445. The Buyer and the Seller shall each individually have
the right (but Buyer shall not be obligated) prior to closing to make
application to the Internal Revenue Service (the Service") pursuant to Temporary
Regulations Section 1.1445-3T for a withholding certificate ("Withholding
Certificate") authorizing Buyer to withhold a lesser amount of (or no) tax, and
if the Service duly issues 'such a Withholding Certificate prior to closing,
then the Buyer shall have the right to withhold only the amount stipulated in
the Withholding Certificate and the Buyer shall forward such amount to the
Internal Revenue Service pursuant to Internal Revenue Code Section 1445. It is
the intent of this paragraph to enable Buyer fully to comply with Internal
Revenue Code Section 1445 and related sections and regulations, as modified and
amended from time to time; in furtherance of this intent, Seller shall comply
with all reasonable requirements of Buyer which are intended to effect such
compliance.

           22.       CONDEMNATION.

           If, prior to the Closing Date, all or any significant portion of the
Subject Property is taken by eminent domain (or is the subject of a pending or
contemplated taking which has not been consummated), the Seller shall notify the
Buyer of such fact and the Buyer shall have the option to terminate this
Contract upon notice to the Seller given not later than ten (10) days after
receipt of the Seller' notice. For purposes hereof, a "significant portion"
includes any portion of the Subject Property lying outside of any public road
right-of -way, and any means of ingress thereto or egress therefrom. If this
Contract is terminated, as aforesaid, the Seller shall cause the Deposit(s) to
be refunded to the Buyer, with all interest earned thereon. Upon such refund
neither party shall have any further rights or obligations hereunder. If the
Buyer does not exercise this option to terminate this Contract, or if an
insignificant portion (i.e., not a significant portion) of the Subject Property
is taken by eminent domain, there shall be a fair and equitable adjustment of
the Purchase Price or, at the option of the Buyer, in lieu of such adjustment,
the Seller shall assign and turn over, and the Buyer shall be entitled to
receive and keep, all awards for the taking by eminent domain.

           23.       ESCROW AGENT.

           The escrow account for the deposits has been established with the
Escrow Agent. All deposits made pursuant to this Contract shall be deposited
with the Escrow Agent. The Escrow Agent by its joinder herein agrees to comply
with all the terms of this Contract which relate to the Deposits and the Escrow
Agent's other duties.

           24.       MISCELLANEOUS PROVISIONS.

                     A. ASSIGNABILITY: Buyer may assign this Contract, only upon
EPA's written approval of same, but in any event Buyer shall remain fully liable
under the Contract for its full performance notwithstanding any assignments of
its rights hereunder. At the time of such assignment, the individual Buyers
shall release and assign to the corporation all of their interest in and to the
deposits paid by them under this Contract, which shall thereafter by held in
escrow for the Seller and the newly formed corporation.

                     B. CHOICE OF LAW: This Contract shall be governed by,
enforced by, and construed under the laws of Florida. Venue for all actions
under this Contract shall be in Martin County, Florida.

                                       14
<PAGE>

                     C. CONSTRUCTION OF CONTRACT: Buyer and Seller acknowledge
that they have read, understand and have had the opportunity to be advised by
legal counsel as to each and every one of the terms, conditions, and
restrictions and the effect of all the provisions of this Contract and Buyer
agrees to the enforcement of any and all these provisions and executes this
Contract with full knowledge of these. Should any provisions of this Contract
require judicial interpretation, it is agreed that the court interpreting or
construing the provisions shall not apply a presumption that the terms hereof
shall be more strictly construed against one party by reason or by the rule of
construction that a document is to be more strictly construed against the party
who itself or through its agent prepared the document. Typewritten or
handwritten provisions inserted in this Contract which are initialed by the
parties shall control over all printed provisions of this Contract in conflict
therewith.

                     D. COUNTERPARTS: This Contract may be executed in one or
more counterparts, each of which shall be deemed an original, but all of which
shall constitute one and the same Contract.

                     E. ENTIRE AGREEMENT: This Contract embodies the entire
agreement between the parties and cannot be waived or amended except by written
instrument executed by Buyer and Seller. Buyer has not been induced by, or
relied upon, any information, representation, warranties, or statements, whether
oral or written, express or implied, made by Seller or any other person
representing or purporting to represent Seller which are not expressly set forth
or provided for in this Contract.

                     F. FURTHER DOCUMENTS: The parties agree to execute all
documentation reasonably requested to give full force and effect to this
Contract.

                     G. HEADINGS: The headings and titles of the Contract
provisions are for the convenience of the parties only, and are not
determinative of the contents of any paragraph. All paragraphs are to be
interpreted by reviewing the entire contents of the paragraph.

                     H. NO WAIVER: No waiver of any provision of this Contract
shall be effective against either party unless it is in writing and signed by
the party waiving such provision. A written waiver shall only be effective as to
the specific instance for which it is obtained and shall not be deemed a
continuing or future waiver.

                     I. PERSONS BOUND AND NOTICE: This Contract shall bind and
inure to the benefit of the parties hereto, their successors and assigns.
Whenever the context permits, singular shall include plural and one gender shall
include all. Notice given by or to the attorney for either party shall be as
effective as if given by or to the party.

                     J PROCEEDS OF SALE: The parties agree that there shall be
no undue delay in delivery of the proceeds of sale to the Seller on the date of
Closing. Seller shall be promptly funded with the balance to close upon delivery
to Buyer of the Special Warranty Deed.

                     K. SPECIAL ASSESSMENT LIENS: Certified, confirmed and
ratified special assessment liens as of date of closing are to be assumed by
Buyer. Pending liens as of date of closing shall be assumed by Buyer. If the
improvement has been substantially completed as of Effective Date, such pending
lien shall be considered certified, confirmed or ratified and Seller shall, at
Closing, be charged an amount equal to the last estimate of assessment for the
improvement by the public body.

                                       15
<PAGE>

                     L. TIME: Time is of the essence of this Contract. Any
reference to time periods shall in their computation include every calendar day.
If (i) the expiration date of the inspection period or any extension period, or
(ii) the due date for payment of the Deposit, or (iii) the fixed date for the
Closing falls on a Saturday, Sunday or legal holiday, such date, as the case May
be, shall be deemed to be the next following business day.

           AS EVIDENCE OF THEIR CONTRACT to comply with the terms of this
Contract, the Buyer and Seller have signed below.

SELLER:  Solitron Devices, Inc.         BUYER: Port Salerno Industrial Park, LLC

By: ___________________________               ______________________________
    Shevach Saraf, President                  Larry Viens, Managing Member

    Dated: June ____, 2002                    Dated: June ____, 2002

                                 ESCROW RECEIPT

           The undersigned Escrow Agent hereby acknowledges receipt of a deposit
in the amount of Twenty Thousand Dollars ($ 20,000.00). If the deposits are made
by check, they are subject to clearance. The Escrow Agent agrees to act in
accordance with the terms and provisions of this Contract applicable to Escrow
Agent.

                                           Leslie R. Evans   & Associates, P.A.

                                           By: _____________________________
                                           Dated: June____, 2002

                                       16

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