Document:

FIRST AMENDMENT TO

                           LOAN AND SECURITY AGREEMENT

                This  AGREEMENT  is made this 2nd day of January,  1999,  by and
between VERMONT PURE HOLDINGS,  LTD., a Delaware  business  corporation with its
chief executive  offices at Route 66, Catamount  Industrial Park.  Randolph,  VT
05060,  VERMONT PURE SPRINGS,  INC., a Delaware  business  corporation  with its
chief executive  offices at Route 66, Catamount  industrial Park,  Randolph,  VT
05060 jointly and  severally,  the  "Borrowers",  and FIRST UNION  NATIONAL Bank
successor by merger to CORESTATES Bank N.A., a national banking association with
offices at 1339 Chestnut  Street,  Philadelphia,  Pennsylvania  19101-7618  (The
"Bank"),

                                   BACKGROUND

                A. The Bank and the Borrowers are parties to a Loan and Security
Agreement  dated  April  8,  1998 (as the  foregoing  may be  amended,  modified
supplemented or restated from time to time, the "Loan  Agreement"),  pursuant to
Which the Bank has made available to the Borrowers credit facilities in the form
of a Working capital line of credit,  and loans to facilitate the acquisition of
specified  types of  businesses  and assets.  Unless  otherwise  indicated,  all
capitalized terms used in this Agreement shall have the meaning given to them in
the Loan Agreement.

                B. The Borrowers  have  requested  that the Bank increase by One
Million  Dollars  ($I,000,000)  the maximum amount  available  under the Working
Capital  Line of  Credit,  which the Bank has  agreed to do  subject  to, and in
reliance  upon,  the terms,  conditions,  representations,  warranties and other
matters set for& below.

<PAGE>

AGGREEMENT

                  In consideration of the foregoing, and the covenants set forth
below, and intending to be legally bound, the Borrowers and Bank agree:

                  1.  AMENDMENT TO LOAN  AGREEMENT.  Effective as of the date of
this Agreement,  Sections 2.01, 2.02 and 2.05 are amended by deleting the number
"'Two Million

  Dollars  ($2,000,000)  everywhere where number appears in those sections,  and
  inserting in its place the number Three Million Dollars

                    2.  Representations  and  warranties  In order to induce the
  Bank to enter into this Agreement,  the Borrowers represent and warrent to the
  Bank that:

                  (a) The execution,  delivery and performance of this Agreement
  has been duly  authorized by all necessary  corporate or other required action
  of the Borrowers and the Sureties,

  and does not and will not violate on of law, or any agreement,  trust or other
  Indenture or instrument to which they are a by which their  properties  may be
  bound, or any order or decree affecting them or their properties, so that this
  Agreement  will be a legal  valid  and  binding  obligation  of the  Borrowers
  Sureties, enforceable in accordance with their terms.

                  (b)  The  financial   state  of  the  Borrowers   prepared  by
  management  as of October  31,  1998,  and  previously  filed to the Bank were
  prepared in accordance with GAAP, and present fairly the financial position of
  the  Borrowers  as of that date and the  results of their  operations  for the
  period then ended.  The Borrowers have no material or  substantial  contingent
  obligations or liabilities, for taxes or otherwise, not otherwise disclosed or
  reserved against in such financial  statements.  Since October 31, 1998, there
  bas been no material  adverse of  operations  of the Borrowers or the Sureties
  from that set forth in such financial statements.

<PAGE>

                                  (e) All representations and warranties made to
                  the Bank in the Loan Agreement and the Loan Documents are true
                  and correct, with the same effect as though 'Made on and as of
                  the date of this Agreement, there has neither occurred, nor is
                  there continuing, any event of Default or potential Death.

(d) The Borrowers and the Sureties

                           acknowledge and confirm that the
                           loan  Agreement  and Loan  Documents  are  valid  and
                           binding  obligations,  enforceable in accordance with
                           the  terms  and   conditions  and  that  First  Union
                           National  Bank is ihe  successor  by  merger  to Core
                           States  Bank  N.A.,  and  is  entitled  to all of the
                           benefits  and  other  rights  set  forth  in the Loan
                           Agreement and the Loan Documents.

3. Conditions Precedent. As

                    conditions  precedent to the matters  ,contemplated  by this
                    Agreement  (including the increased  availability  under the
                    working  capital Line of Credit),  the Borrowers shall cause
                    to be  delivered  to  the  Bank  the  following  agreements,
                    documents,  instruments or other evidence, all in a form and
                    content satisfactory to the Bank and

its counsel:

<PAGE>

(a) This Agreement, duly executed

    (b) An Allonge to the working  Capital,  increasing  the original  principal
    amount of the Working Capital Note to $3,000,000

                    (c) Consent of the Securities to the matters contemplated by
    this  Agreement,  as evidenced by their  signature of this  Agreement in the
    place provided below.

                  (d) Such  additional  agreements,  documents,  instruments  or
other  matters as the Bank or its counsel may request or require under the terms
of the Loan Agreement, or otherwise.

4. MISCELLANEOUS,

                  (a) This Agreement  shall be deemed a modification of the Loan
                  Agreement  and  the  Loan  Documents,  to  the  extent  it  is
                  inconsistent with any of those agreements.

                    (b) This  Agreement  shall be binding  upon and inure to the
  benefit of the  respective  successors  and assigns of the  Borrowers  and the
  Bank,  aud shall be  construed  and  enforced in  accordance  with the laws in
  effect in the Commonwealth of Pennsylvania.

                    IN WITNESS WHEREOF, the parties have executed this Agreement
                    as   of the   day and year first above written.

<PAGE>

                                        VERMONT PURE HOLDINGS, LTD.

                                         By:
                                          Timothy Fallon President
                                          VERMONT PURE SPRINGS, INC.
                                         By:
                                           Timothy Fallon President
                                           VERMONT PURE SPRINGS, INC.

                                            FIRST UNION NATIONAL
                                            Bank   successor  by
                                            merger to CORESTATES
                                            Bank N.A.

                                          BY

        The undersigned, being identified in the above agreement as Sureties, do
execute this Agreement in the place provided below for the purpose of evidencing
their consent

<PAGE>

in the above  transactions,  and confirming as in full force and effect (without
setoff, counterclaim, deduction or other claim of avoidance of my nature). their
unlimited LIABILITY AS TO sureties for the Indebtedness,

                                                 EXCELSIOR SPRINGS WATER
                                                  COMPANY, INC.

                                                      By:

                                                      Timothy G.  Fallon
                                                        President

                                                          A.M. FRIDAYS, INC.

                                                       By

                                                  Timothy G. Fallon, President

        LISA ANN LYONS
        NOTARY PUBLIC, STATE OF NEW YORK
        NOTARY PUBLIC NO. 0ILY5071942
        QUALIFIED IN WESTCHESTER COUNTY
        MY COMMISSION EXPIRES JANUARY 21,  1999

                      ALLONGE TO COMMERCIAL PROMISSORY NOTE

        Payor:             VERMONT PURE HOLDINGS, LTD. and
                           VERMONT PURE SPRINGS, INC.

        Payee:             FIRST UNION NATIONAL BANK, as successor by merger to
                           CoreStates Bank,
                           N.A. (the "Bank')

               Date of

               NOTE:                       April 8, 1998

               Original

               Principal Amount            $2,000,000

                                   BACKGROUND

<PAGE>

                            A.The  Bank is the  holder of a  certain  Commercial
                Promissory Note executed on or about April 8, 1998, and executed
                and  delivered  to the  Bank  by the  Borrower  in the  original
                principal amount of

                                                      $2,000,000 (the "Note").

                             B.The Borrower has requested that the Bank increase
               the loan  availability  evidenced by the Note from  $2,000,000 to
               $3,000,000,  as set forth in that certain First Amendment to Loan
               and Security

                    Agreement  dated the date hereof  between the  Borrowers and
the Bank (the "First Amendment").

                           C.As                        a  condition  to entering
                                                       into the First Amendment,
                                                       the Bank has required the
                                                       Borrowers to execute this
                                                       Allonge.

                       NOW, THEREFORE, for good and valuable consideration,  the
                         receipt   and   sufficiency   of   which   are   hereby
                         acknowledged, and intending to be legally bound hereby,
                         the parties agree:

                         1.This  Allonge  shall be and  remain  attached  to and
shall constitute an integral part of the Note.

                             2.Terms                 capitalized but not defined
                                                     in this Allonge  shall have
                                                     the  meanings  ascribed  to
                                                     them  respectively  in  the
                                                     Note.

               3.The dollar  amount  appearing at the top left comer of the Note
               and  elsewhere  in the Note,is  amended and  restated as follows:
               Three Million Dollars

                                                           ($3,000,000).

                                4.Allonge,   and  all  documents  comprising  or
                    relating to this  Allonge,  shall be construed  inaccordance
                    with the laws in effort in the Commonwealth of Pennsylvania.

                               5.This Allonge, and all documents referred to in,
                         comprising  or  relating  to this  Allonge  (including,
                         without limitation. the First Amendment) constitute the
                         sole agreement

                             Of the parties with respect to their subject matter
                       and supersede all oral  negotiations  and prior  writings
                       with respect to their subject matter.

                             6.Except as modified  by this  Allonge,  all of The
                 terms  and  provisions  of the Note  are  hereby  ratified  and
                 confirmed, including, without limitation, those

               provisions authorizing the Bank to exercise a warrent of attorney
                     to confess judgment subject to the terms and conditions set
                     forth or referred to in the Note.

                                   IN WITNESS WHEREOF, the Borrowers have caused
                this Allonge to Commercial Promissory Note to be executed by its
                duly authorized officer as of the

                                            20th day of January, 1999.

<PAGE>

                                           VERMONT PURE HOLDINGS, LTD.

                                          Timothy G, Fallon, President

                                           VERMONT PURE SPRINGS, INC.

                                                       By:

                          Timothy G, Fallon, President

                                STATE OF NEW YORK

                              COUNTY OF WESTCHESTER

                       On this 20th day of January, 1999,
                   before me, a notary public, the undersigned

                     officer, personally appeared Timothy G.
                   Fallon, who acknowledged himself to be the
                    President of Vermont Pure Holdings, Ltd.,

Vermont Pure Springs, Inc., Excelsior
Springs Water Company, Inc. and A.M.

Fridays, Inc., a Pennsylvania corporation,
and that he as such officer, being authorized

to do so, executed the First Amendment to

Loan and Security Agreement and Allonge to
Commercial Promissory Note for the

purposes therein contained by singing the
name of the corporation by himself as such

officer.

                            IN WITNESS WHEREFOR, I have hereunto set my hand and
official seal.

                                                  Notary Public

<PAGE>

                                              My commission expires:

                                                 LISA ANN LYONS
                                        NOTARY PUBLIC, STATE OF NEW YORK

                                          NOTARY PUBLIC NO. 0ILY5071942
                                         QUALIFIED IN WESTCHESTER COUNTY

                                     MY COMMISSION EXPIRES JANUARY 21, 1999AMENDED AND RESTATED
                    SPRING WATER LICENSE AND SUPPLY AGREEMENT

         This Amended and Restated  Spring  Water  License and Supply  Agreement
(the "AGREEMENT") IS BY AND BETWEEN PRISTINE MOUNTAIN SPRINGS OF VERMONT,  INC.,
A VERMONT  CORPORATION  ("PMSV"),  AND AMSOURCE,  LLC, a New  Hampshire  limited
liability company ("AMSO").

                                   BACKGROUND

         1. AMSO and PMSV are parties to a Priority Spring Water Supply Contract
dated January 28, 1999,  pursuant to which AMSO agreed to purchase from PMSV and
PMSV  agreed  to  sell  to  AMSO  certain  spring  water  (the  "1/28/98  Supply
Agreement").

         2. AMSO and PMSV now desire to amend and  restate  the  1/28/98  Supply
Agreement in its entirety, on the terms and conditions hereinafter set forth

                            N O W, T H E R E F O R E,

         In   consideration  of  the  premises  and  the  mutual  covenants  and
agreements  herein  set  forth,  and  in  reliance  on the  representations  and
warranties contained herein, the parties hereby agree as follows:

         SECTION 1. PURCHASE AND SALE: AMSO'S  REQUIREMENTS.  PMSV shall sell to
AMSO and AMSO shall  purchase  from PMSV all of AMSO's  requirements  for spring
water from  PMSV's  spring  located on  property in  Stockbridge,  Vermont  (the
"Water").  Further  PMSV  grants  AMSO  the  right  and  license  to  enter  the
Stockbridge Property (as defined in Section 11 below) to take and purchase Water
in accordance with the terms of this  Agreement.  PMSV covenants and agrees that
during  the  term of this  Agreement  it will  not  enter  into  any  contracts,
commitments,  arrangements,  agreements or  undertakings  with other  purchasers
which would in any way impair,  impede or prevent it from  meeting all of AMSO's
requirements for Water.

         SECTION 2. TERM:  RENEWAL  TERM.  The  initial  term of this  Agreement
begins on January 4, 1999 and continues through December 31, 2023, unless sooner
terminated,  renewed or extended as  hereinafter  provided.  AMSO shall have the
option to renew this  Agreement for an additional  term  beginning on January 1,
2024 and ending on January 15, 2049, on the same terms and conditions herein set
forth, except with respect to the purchase price adjustment set forth in Section
3 hereof.  AMSO's  option to renew  shall be  exercised,  if at all,  by written
notice  form  AMSO to PMSV  given  not later  than six (6)  months  prior to the
expiration of the initial term of this Agreement.

     SECTION 3. PRICE:  ADJUSTMENT  OF PRICE.  AMSO shall pay to PMSV during the
period from the date hereof  through and including  December 31, 2009 (the "Base
Sales Price"):

<PAGE>

         (a)      During each calendar year, one and one-half cents ($0.015) per
                  gallon of Water for gallons 1 - 3,000,000;

         (b)      During  each  calendar  year,  one cent  ($0.01) per gallon of
                  Water for gallons 3,000,001 - 10,000,000; and

         (c)      During each calendar year, eight tenths of a cent ($0.008) per
                  gallon of Water for Gallons 10,000,000 or more.

Thereafter,  the Base  Sales  Price  shall be  reviewed  every five years by the
parties and adjusted accordingly to market conditions as mutually determined and
agreed by the parties.  If, by March 15 in years 2014,  2019,  2024, 2029, 2034,
2039 and 2044,  the  parties  have not been able to agree upon an amount for the
adjustment,  the adjustment shall automatically be based on the average Consumer
Price  Index  (CPI)  increase  or  decrease  during  the  immediately  preceding
five-year  period.  The Base  Sales  Price,  as so  adjusted,  shall  become the
applicable  sales price for the next succeeding  five-year  incremental  period.
PMSV shall  invoice  AMSO  monthly for Water sold to AMSO  during the  preceding
month,  and AMSO shall pay each  invoice  within  sixty (60) days after  receipt
thereof.

         SECTION 4. HOURS OF  OPERATION.  PMSV  represents  and warrants to AMSO
that  AMSO  shall be  entitled  to take the  Water by  tanker  truck at any time
twenty-four  (24)  hours a day,  seven  days a week,  without  violation  of any
permits held by PMSV (all of which have been  disclosed  to AMSO) or  applicable
law. PMSV shall immediately  notify AMSO of any changes in permits,  provisions,
restrictions or laws that would prohibit AMSO from taking Water during the times
and days specified  above, and AMSO shall have no liability to PMSV with respect
to the  foregoing  indemnification  until PMSV has so notified  AMSO of any such
changes.  AMSO shall  indemnify and hold PMSV harmless from any cost or expenses
relating to any suits, controversies,  actions or otherwise filed by any person,
corporation, entity or other governmental BODY, WHETHER FEDERAL, STATE OR LOCAL,
DUE TO ANY  VIOLATION  BY AMSO  of any  permit  conditions  or  applicable  laws
relating to hours of operation  after PMSV has notified AMSO of such  conditions
or changes in applicable law.

         SECTION 5. BULK WATER  LOADING  STATION.  PMSV shall  maintain its high
volume  loading  facility  (the "Bulk  Water  Loading  Station")  located on the
Stockbridge  Property  (as  defined  in  Section  11 below) in  accordance  with
applicable industry and governmental regulations. PMSV shall make the Bulk Water
Loading Station  available to AMSO on a priority basis,  and if the Bulk Loading
Station is being repaired or if it is otherwise not available for any reason not
in violation of PMSV's  obligations  under this  Agreement,  PMSV agrees to make
available to AMSO the original facility on a priority basis.

     SECTION 6. TRANSPORTATION.  AMSO shall be responsible for arranging for the
transportation of all Water purchased from PMSV and PMSV shall have no liability
or obligations with respect thereto.

     SECTION 7. COMPLIANCE WITH LAW. AMSO shall be responsible for obtaining and
maintaining  all  federal,  state and local  permits  and  licenses  that may be
required by it in order for

<PAGE>

it to purchase,  haul, bottle and distribute the Water. If any federal, state or
local  governmental  authority  imposes any  requirements in connection with the
sale of Water to AMSO which would  require  testing or  equipment in addition to
that  presently  performed  or used by PMSV,  AMSO shall so notify PMSV and PMSV
shall immediately  purchase the required  equipment and/or commence the required
testing.

         In the event the Water does not meet Vermont EPA  standards,  or if the
water  does  not  meet  the  then  existing  highest  federal,  state  or  local
governmental  standards imposed in areas in which AMSO distributes or intends to
distribute,  then  AMSO  shall  have the  right to  purchase  water  from  other
acceptable  sources until such time as PMSV, at its own expense,  can return and
sustain water quality to those water quality standards.  In addition, AMSO shall
be entitled to purchase  water from other  sources in the event PMSV is not able
to meet all of AMSO's water supply needs.

     SECTION 8.  REPRESENTATIONS  AND  WARRANTIES OF PMSV.  PMSV  represents and
warrants to AMSO as follows:

         (a)      It has  authority to execute and perform this  Agreement,  and
                  such performance will not violate, infringe or cause a default
                  under  any  other  contract,  agreement,  order,  judgment  or
                  understanding  by which it is legally bound or any law, order,
                  regulation, writ or ruling by which it is bound or to which it
                  or its business is subject.

         (b)      it is a validly formed  corporation in good standing under the
                  laws of the State of Vermont.

         (c)      The spring on the Stockbridge Property which is the subject of
                  this Agreement (the "Spring") was pump tested in August,  1992
                  and showed a total flow of at least 900  gallons  per  minute.
                  The water from the spring  meets or exceeds  the  Vermont  EPA
                  water  quality  standards.  PMSV  knows of no  change or other
                  event that would make the foregoing test results inaccurate.

         (d)      PMSV possesses all licenses, permits, franchises, easements or
                  rights  thereto,  necessary to conduct PMSV's  business as now
                  conducted  and as presently  proposed to be  conducted  and to
                  sell  Water  to AMSO,  and is not in  violation  of any  valid
                  rights of others with respect to any of the foregoing.

     SECTION 9.  REPRESENTATIONS  AND WARRANTIES OF AMSO..  AMSO  represents and
warrants to PMSV as follows:

         (a)      It has the  authority to execute and perform  this  Agreement,
                  and such  performance  will not  violate,  infringe or cause a
                  default under any other contract,  agreement,  order, judgment
                  or  understanding  by  which it is  legally  bound or any law,
                  order,  regulation,  writ or ruling by which it is bound or to
                  which it or its business is subject.

<PAGE>

         (b)      it is a  validly  formed  limited  liability  company  in good
                  standing under the laws of the State of New Hampshire.

         (c)      AMSO possesses all licenses, permits,  franchises,  easements,
                  or rights thereto, necessary to conduct AMSO's business as now
                  conducted  and as presently  proposed to be  conducted  and to
                  purchase  Water to PMSV,  and is not in violation of any valid
                  rights of others with respect to any of the foregoing.

     SECTION 10. EVENTS OF DEFAULT.  Upon the occurrence of any of the following
events (each of which is herein called an "Event of Default"):

         (a)      AMSO fails to make a scheduled  payment for Water it purchases
                  within  ninety  (90) days after the invoice  therefor  becomes
                  due;

         (b)      If AMSO or PMSV shall:

                  1.      apply for or consent to the appointment of a receiver,
                         trustee or liquidator
                           of it or any of its property;

                  2.       admit in writing its inability to pay its debts as
                         they mature

                  3.       make a general assignment or trust mortgage for the
                              benefit of creditors;

                  4.       file  a  voluntary  petition  in  bankruptcy,   or  a
                           petition or an answer seeking  reorganization  or any
                           arrangement  with  creditors or to take  advantage of
                           any    bankruptcy,    reorganization,     insolvency,
                           readjustment of debt,  dissolution or liquidation law
                           or  statute,  or an  answer  admitting  the  material
                           allegations  of a  petition  filed  against it in any
                           proceeding  under any such law,  take any  action for
                           the purpose of effecting any of the foregoing;

         (c)      If an order,  judgment  or  decree  shall be  entered  against
                  either party by any court of competent jurisdiction, approving
                  a petition seeking reorganization of such party, or appointing
                  a receiver,  trustee or liquidator of the party or of all or a
                  substantial  portion of its assets,  and the same shall not be
                  dismissed or discharged  within one hundred  eighty (180) days
                  after notice thereof given by one party to the other; or

         (d)      If any judgment,  writ,  warrant of attachment or execution or
                  similar   process   shall  be  issued  or  levied   against  a
                  substantial  part  of  the  property  of  a  party,  and  such
                  judgment,  writ,  or similar  process  shall not be  released,
                  vacated,  or fully bonded within one hundred eighty (180) days
                  after its issue or levy; or

         (e)      If default shall be made by either party in the performance or
                  compliance  with any of the  agreements,  terms,  covenants or
                  conditions in this  Agreement,  other than that referred to in
                  the foregoing subparagraph (a) with respect to payments

<PAGE>

                  required to be made by AMSO,  for a period of thirty (30) days
                  after  notice  from  non-breaching  party to the  other  party
                  specifying  the items in default,  or in the case of a default
                  of which cannot with due diligence be cured within said thirty
                  (30) day  period,  if the  breaching  party  fails to commence
                  within said thirty (30) day period the steps necessary to cure
                  the same or thereafter to prosecute the curing of such default
                  with due diligence (it being  understood  that the time of the
                  breaching  party  within  which to cure shall be extended  for
                  such period as may be  necessary to complete the same with all
                  due diligence);

then,  and in case of every such Event of Default,  and at any time  thereafter,
the  non-breaching  party may, at its option elect to terminate this  Agreement,
effective on written  notice to the other.  No such  termination  shall  relieve
either  party form the duty to perform all duties and  obligations  that accrued
prior to the effective date of termination.

         SECTION 11. RIGHT OF FIRST REFUSAL.  PMSV hereby grants to AMSO a right
of first refusal to purchase  and/or to lease the Spring and the land,  premises
and property on which the Spring is located, in Stockbridge,  Vermont,  together
with all  improvements  thereon,  as more  particularly  descried on Exhibit "A"
hereto (the "Stockbridge  Property"),  during the term of this Agreement and any
renewal or  extension,  on the  following  terms and  conditions.  If PMSV shall
desire to sell or lease the  Stockbridge  Property and shall receive a bona fide
written offer to acquire or lease the same, PMSV shall promptly  transmit a copy
of such  offer to AMSO and shall  offer to convey  or lease the  Stockbridge  to
AMSO, at the price and on the terms and  conditions  set forth in such bona fide
offer.  AMSO shall have thirty (30) days within  which to accept such offer form
PMSV, by giving  written  notice thereof to PMSV. In the event AMSO accepts such
offer form PMSV,  the parties shall fully and promptly  comply with all terms of
the contract so created.  If AMSO does not so accept,  PMSV shall have the right
to transfer or lease the Stockbridge Property to the person or entity and at the
price  and upon the  terms and  conditions  set  forth in such  bona fide  offer
received by PMSV, but only so long as such transfer or lease is effected  within
ninety (90) days after the date on which AMSO received such offer form PMSV. The
Stockbridge  Property  in the  hands of such  transferee  or  transferees  shall
continue to be subject to the restrictions of this section.

         SECTION 12. PERSONAL  PROPERTY:  TAXES. AMSO is solely  responsible for
all of its personal  property  placed upon the  Stockbridge  Property during the
term of this Agreement,  which responsibility  includes,  by way of illustration
and not by way of  limitation,  payment of all taxes and fees  assessed  against
such personal property and insurance for all personal  property.  Further at the
expiration  or earlier  termination  of this  Agreement,  AMSO shall  remove its
personal  property from Stockbridge  Property  exercising due care not to damage
the  Stockbridge  Property  by such  removal.  PMSV shall be entitled to all tax
deductions  form any sums  for  depletion,  depreciation  or  amortization  with
respect to the Stockbridge Property.

         SECTION 13.  FORCE  MAJEURE.  In the event that  either  party shall be
delayed,  hindered in or  prevented  from the  performance  of any act  required
hereunder, by reason of strikes, lock-outs, labor troubles, inability to procure
materials,  failure  of power,  restrictive  governmental  laws or  regulations,
riots, insurrection,  war or other reason beyond its control (including the act,
failure to act or  default of the other  party),  then  performance  of such act
shall be excused for the period

<PAGE>

of the  delay  and the  period  for the  performance  of any such  act  shall be
extended for a period  equivalent to the period of such delay.  If,  despite all
diligent  efforts by PMSV to correct such event or  circumstance,  such event or
circumstance continues for more than one hundred eighty (180) days, AMSO, at its
option may elect to terminate this Agreement.  No such termination shall relieve
either  party form the duty to perform all duties and  obligations  that accrued
prior to the effective date of termination.

         SECTION 14.  ADVERTISING  AND PACKAGING.  No  advertising  materials or
other  information  distributed  by AMSO  about  the  Water  shall  contain  any
disparaging remarks about other purchases of Water from PMSV. PMSV covenants and
agrees with AMSO to include a  provision  comparable  to this  Section 14 in all
agreements, arrangements, commitments and undertakings PMSV may have with all of
its  purchasers  and others with whom it does business os that AMSO may become a
third party beneficiary with respect thereto.

         SECTION 15. NO WAIVER.  Neither the failure of a party to exercise, nor
the delay of a party in exercising  any right,  power,  or privilege  under this
Agreement  shall  operate as a waiver  thereof,  nor shall any single or partial
exercise or any right, power or privilege preclude any other or further exercise
of any other right, power or privilege.

         SECTION 16. SPECIFIC PERFORMANCE. The parties acknowledge that it would
be difficult if not  impossible to measure in money alone the damages that could
result  from  failure  to perform  the  obligations  created by this  Agreement.
Accordingly,  if any party bound by or entitled to the benefit of this Agreement
shall  institute an action or proceeding or enforce it, any person  against whom
such action or proceeding is brought hereby waives the claim or defense that the
party bringing such action has an adequate remedy at law, and irrevocably agrees
not to urge in any such action or  proceeding  the claim or defense  that such a
remedy  exists.  The parties  intend and agree that upon the  institution of any
such action or proceeding, the provisions of this Agreement shall be required to
be specifically performed.

         SECTION 17. FORUM  SELECTION:  VENUE.  All  questions or  controversies
arising out of or in any way  relating to this  Agreement or any other aspect of
the  commercial  relationships  between the parties  shall be  submitted  to the
United States  District  Court for the District of Vermont or, in the event that
District  Court is without  subject matter to the courts of the State of Vermont
having subject  matter  jurisdiction,  and the parties submit  themselves to the
personal jurisdiction of such District Court or Vermont State Court, as the case
may be, and any service of a summons,  process or other paper in connection with
such  proceedings  may be made by giving  notice as provided in this  Agreement.
Nothing  herein  contained  shall be construed as intended to preclude or in any
way prohibit either party form institution and otherwise prosecuting to judgment
a lawsuit in any court of competent jurisdiction to effect the collection of any
sums due it or to enforce any right or remedy arising hereunder or otherwise.

         SECTION 18. COSTS OF SUIT AND  ENFORCEMENT.  If either party resorts to
suit or other legal  proceedings to enforce any right or remedy  hereunder,  the
non-prevailing  party  agrees to pay the  prevailing  party's  costs of suit and
enforcement, including reasonable attorneys' fees.

     SECTION  19.  NOTICES.  Any  notice  or  other  communication  to be  given
hereunder shall be

<PAGE>

in writing  and mailed or  telecopied  to such part at the address or number set
forth below:

         If to AMSO:                        AmSource, LLC
                                            135 Maple Avenue
                                            Claremont, NH 03743
                                            Telephone No.:  (603) 543-0000
                                            Telecopier No.:  (603) 543-0040

         If to PMSV:                  Pristine Mountain Springs of Vermont, Inc.
                                            P.O. Box 662
                                            Pittsfield, VT 05762
                                            Telephone NO.: (802) 746-8146
                                            Telecopier No.:  (802) 746-7935

or to such other person,  address or number as the party entitled to such notice
or  communication  shall have  specified  by notice to the other  party given in
accordance  with  the  provisions  of this  Section.  Any such  notice  or other
communication  shall be deemed given: (i) if mailed, when deposited in the mail,
properly addressed and with postage prepaid;  or (ii) if sent by telecopy,  when
transmitted.

     SECTION  20.  REMEDIES  CUMULATIVE.  The  rights  and  remedies  herein are
cumulative,  and not exclusive of other rights and remedies which may be granted
or provided by law.

         SECTION 21. RELATIONSHIP OF PARTIES. Nothing in this Agreement shall be
construed  to  place  the  parties  in the  relationship  of  partners  or joint
ventureres,  or of agency or employment,  and, except to the extent,  if at all,
otherwise  expressly  provided herein, no party shall have the power to obligate
or bind any other party in any manner whatsoever.

         SECTION 22.  ASSIGNABILITY.  PMSV shall not assign this  Agreement,  by
operation of law or otherwise,  without the prior written consent of AMSO (which
consent  shall not be  unreasonably  withheld or delayed,  due to  consideration
being  given to the  financial  stature  and  ability  to conduct  the  business
contemplated of such proposed  assignee).  AMSO, and its successors and assigns,
may assign this  Agreement,  by operation of law  otherwise,  on notice to PMSV.
This  Agreement  shall bind and inure to the  benefit of the  parties  and their
respective permitted  successors and assigns.  This Agreement is intended to run
with the land  and  shall be  binding  upon  any  purchaser  of the  Stockbridge
Property.

     SECTION  23.  GOVERNING  LAW.  This  Agreement  shall  be  governed  by and
construed in accordance with the laws of the State of Vermont.

         SECTION  24.  FURTHER   ASSURANCES.   The  parties  agree  to  execute,
acknowledge,  if necessary,  and deliver such  documents,  certificates or other
instruments and take such other actions as may be reasonably  required from time
to time to carry out the intents and purposes of this Agreement.

     SECTION 25. CAPTIONS:  HEADINGS.  The caption and section numbers appearing
in this

<PAGE>

Agreement  are  inserted  only as a matter of  convenience.  They do not define,
limit, construe or describe the scope or intent of such sections, nor in any way
affect this Agreement or have any substantive effect.

         SECTION 26. REFORMATION:  SEVERABILITY.  If any of the terms, covenants
or conditions  set forth herein are found by a court to be  unenforceable,  then
and in that case such provision shall nevertheless remain effective but shall be
considered  amended in such manner so as to make the  provision  enforceable  as
determined  by such  court and as so  amended  shall be  enforced.  If any term,
covenant or condition of this Agreement or the application thereof to any person
or circumstance shall, to any extent, be invalid or unenforceable, the remainder
of this  Agreement,  or the  application of such term,  covenant or condition to
persons or  circumstances  other  than  those as to which it is held  invalid or
unenforceable,  shall  not be  affected  thereby  and  each  term,  covenant  or
condition of this Agreement shall be valid and be enforced to the fullest extent
permitted by law.

     SECTION 27.  COUNTERPARTS.  This  Agreement  may be executed in two or more
counterparts,  each of  which  shall be  deemed  an  original,  but all of which
together shall constitute one and the same instrument.

         SECTION 28. SHORT-FORM AGREEMENT TO BE RECORDED.  The parties expressly
agree that a short-form  of this  Agreement  may be recorded by AMSO in the land
records in the office of the Town Clerk of Stockbridge, Vermont.

     SECTION 29. ENTIRE AGREEMENT: AMENDMENT. This Agreement embodies the entire
agreement and  understanding  between the parties relating to the subject matter
hereof.  This  Agreement may not be amended,  waived or discharged  except by an
instrument in writing executed by the party against whom such amendment,  waiver
or discharge is to be enforced.

         IN WITNESS  WHEREOF,  the parties have executed or cause this Agreement
to be executed as of the __ day of April, 1999.

IN PRESENCE OF:

                                               AMSOURCE, LLC.

____________________________________      By:________________________________
Witness                                                 Duly Authorized Agent

_____________________________________        By:________________________________
Witness                                             Duly Authorized Agent

STATE OF NEW HAMPSHIRE
COUNTY OF SULLIVAN, SS.

<PAGE>

         At  Claremont,  in said County and State,  this __ day of April,  1999,
personally appeared BARTON E. LORD, DULY AUTHORIZED AGENT OF AMSOURCE,  LLC, and
he acknowledged this INSTRUMENT,  BY HIM SIGNED, TO BE HIS FREE ACT AND DEED AND
THE FREE ACT AND DEED OF AMSOURCE, LLC.

                                   Before me, _________________________

My commission expires:

<PAGE>

STATE OF NEW HAMPSHIRE
COUNTY OF SULLIVAN, SS.

         At  Claremont,  in said County and State,  this __ day of April,  1999,
personally appeared RONALD E. COLTON, DULY AUTHORIZED AGENT OF PRISTINE MOUNTAIN
SPRINGS OF VERMONT,  and he acknowledged  this instrument,  by him signed, to be
his free act and deed AND THE FREE ACT AND DEED OF PRISTINE  MOUNTAIN SPRINGS OF
VERMONT.

                                          Before me, _________________________

My commission expires:

<PAGE>

                                   EXHIBIT "A"

PARCEL A

Being all and the same lands and premises  conveyed to Pristine Mountain Springs
of Vermont,  Inc. by Warranty  Deed of Ronald E. Colton  dated July 31, 1995 and
recorded in Book 52, Page 115 of the Town of Stockbridge  Land Records and being
more particularly described therein as follows:

Being  all and the same  lands and  premises  conveyed  to  Ronald E.  Colton by
Warrranty  Deed of Michael B. Barrett  dated May 6, 1994 and recorded in Book 51
at page 30 of the  Land  Records  of the  Town of  Stockbridge  and  being  more
particularly described as follows:

Being all and the same lands and  premises  conveyed to Michael B.  Barrett,  by
Warranty  Deed of Geoffrey O. Ventura  dated  February  13,  1987,  and which is
recorded  at  Book  43,  Pages  332-336  in the  Land  Records  of the  Town  of
Stockbrdige and being more particularly described as follows:

Being a portion of all and the same lands and  premises  conveyed to Geoffrey O.
Ventura by QuitClaim Deed of Delores O. Ventura dated July l9, 1984 and recorded
in the Town of Stockbridge Land Records in Book 40 at Pages 632-634.  Said lands
and premises are more particularly described as follows:

Being a portion of the Delores O. and  Geoffrey O. Ventura  property  located on
the southerly side OF VERMONT ROUTE NO. 100 IN THE TOWN OF STOCKBRIDGE,  VERMONT
HEREINAFTER REFERRED TO AS LOT NO. B-1 and described as follows:

Beginning at an iron pipe set in the westerly line of the property  belonging to
John C.  and  Henrietta  W.  and  Lloyd  H.  Whit  which  iron  pipe  marks  the
southeasterly  corner of Lot B-2 of the Delores O. and Geoffrey Ventura property
(said  point of  beginning  being on a  bearing  of South  21' 16' 15" West at a
distance  of three  hundred  seventy  seven and  seventy  three  one  hundredths
(377.73) feet from an iron pipe set in the  southerly  line of Vermont Route No.
100 which iron pipe marks the northwesterly  corner of the property belonging to
John C. and  Henrietta  W. and Lloyd H. White and also  marks the  northeasterly
corner of the property belonging to the said Ventura in the Town of Stockbridge,
County of Windsor,  State of Vermont);  thence from the point of beginning South
21' 16' 15" West a distance of eighty eight and zero one hundredths (88.00) feet
along a portion of the property  belonging to John C. and Henrietta W. and Lloyd
H. White to an iron pipe  (existing)  set in the westerly line of the said White
property  and marking the  northeasterly  corner of the  property  belonging  to
Robert E. Jr. and Janet A. Lee;  thence North 57' 52' 05" West a distance of two
hundred ninety seven and zero one  hundredths  (297.00) feet along the northerly
line of the  property  belonging  to  Robert  E.  Jr.  and  Janet A. Lee and the
northerly  line of the property  belonging to Robert P.  Flannigan,  et al and a
portion of the  northerly  line of the property  belonging to Stratton  Estates,
Inc. to an iron pipe set in an inner  corner in the  northerly  line of the said
Stratton Estates, Inc. property; thence South 37' 22' 55"

<PAGE>

West a distance of twenty one and zero one  hundredths  (21.00) feet along a jog
in the northerly line of Stratton Estates, Inc. property to an iron pipe; thence
North 52' 22' 05" West a distance of four hundred  twenty eight and fourteen one
hundredths  (428.14) feet along the northerly line of the property  belonging to
the Stratton Estates,  Inc. and the northerly line of the property  belonging to
Pach,  Inc. and the northerly line of the property  belonging to Dan R. Civiello
and the northerly  line of the property  belonging to Mary Grace  Civiello to an
iron pipe set in a stone  wall which  marks the  easterly  line of the  property
belonging to John S. Jr. and Mary Louise  Bernhard and the easterly  line of the
property  belonging  to Frank and Cathryn  Finizio and John A. and Marie G. Miko
and the northerly line of the property  belonging to Keith  Blakeslee to an iron
pipe set in the northerly  line of the said  Blakeslee  property in a stone wall
and marking the  southwesterly  corner of Parcel A of the property  belonging to
Delores O. and Geoffrey O. Ventura;  thence South 39' 58' 45" East a distance of
four hundred  eleven and ninety  seven one  hundredths  (411.97)  feet along the
southerly line of the said Parcel A to an iron pipe set in the southerly line of
the said Parcel A and also marking the  northwesterly  corner of Lot B- 2 of the
Delores O. and  Geoffrey O.  Ventura  property;  thence South 31' 14' 45" West a
distance of one hundred  twenty four and seventy  four one  hundredths  (124.74)
feet  along  the  westerly  line of the said Lot B-2 to an iron  pipe set at the
southeasterly  corner  of Lot B-2 of the  Delores  O. and  Geoffrey  O.  Ventura
Property;  thence South 57' 52' 05" East a distance of three hundred sixty eight
and zero one  hundredths  (368.00) feet along the southerly line of the said Lot
B-2 to the point or place of beginning.

All bearings in the description are based on magnetic North (Novermber 1983) and
the above described  parcel Lot B-1 Delores O. and Geoffrey O. Ventura  Property
Vermont  Route No. 100-  Stockbridge,  Vermont  contains  three and zero one one
hundredths (3.01) acres be the same more or less.

Further  reference  is made to a  survey  plat  (map)  entitled  Delores  O. and
Geoffrey O. Ventura  Vermont Route No. 100  Stockbridge,  Vermont Dated February
1984  (Parcel A Lots B-1,  B-2and B-3  surveyed  and added to this plan in April
1986).  The  survey  was  performed  by  Roberts &  Franzoni,  Inc.(Professional
Engineers and Registered Land Surveyors) of Rutland, Vermont.

There is included  with the above  described  parcel a  right-of-way  20 feet in
width  extending from the southerly line of Vermont Route No.100 through Lot B-3
of the Delores O. and Geoffrey O. Ventura  property to the northerly line of the
above  described Lot B-1, said twenty foot right-of- ways are more  particularly
described as follows:

Beginning at an iron pipe (flush) set in the southerly line of Vermont Route No.
100 said iron pipe being on a bearing of North 69' 03' 40" West at a distance of
fifty  six and zero one  hundredths  (56.00)  feet  from an iron pipe set in the
southerly line of Vermont Route No.100 and marking the  northwesterly  corner of
the property  belonging to John C. and  Henrietta W. and Lloyd H. White;  thence
from the point of beginning South 20' 56' 20" West a distance of twenty four and
nine on hundredths  (24.09) feet to an iron pipe  (flush);  thence South 69' 47'
45" West a distance of one  hundred  thirty one and twenty  seven on  hundredths
(131.27) feet to an iron pipe (flush);  thence South 47' 21' 20" West a distance
of sixty and  eighteen  one  hundredths  (60.18)  feet to an iron pipe  (flush);
thence  continuing  South 47' 21' 20" West a distance of eighty three and thirty
two one  hundredths  (83.32) feet to an iron pipe (flush);  thence South 40' 59'
35" West

<PAGE>

a distance of ninety five and twenty  three one  hundredths  (95.23)  feet to an
iron pipe set in the northerly line of the above described Lot B-1; thence North
57' 52' 05" West a distance of twenty four one hundredths (20.24) feet along the
northerly  line  of the  above  described  Lot B-1 to an  iron  pipe  set in the
northerly line of the said Lot B-1;  thence North 40' 59' 35" East a distance of
ninety nine and forty six on  hundredths  (99.46) feet to an iron pipe  (flush);
thence  North 47' 21' 20' East a  distance  of fifty  four and  ninety  seven on
hundredths (54.97) feet to an iron pipe (flush); thence South 81' 31' 20" West a
distance of thirty  three and fourteen  one  hundredths  (33.14) feet to an iron
pipe (flush); thence South 62' 14' 35" West a distance of one hundred forty nine
and  ninety  seven  one  hundredths  (149.97)  feet to an iron  pipe  set in the
northerly line of the above  described Lot B-1,  thence North 57' 52' 05" West a
distance  of twenty  three and  twelve  one  hundredths  (23.12)  feet along the
northerly  line of Lot B-1 of the property  belonging to Delores O. and Geoffrey
O.  Ventura  to an iron pipe set at the  southwesterly  corner of Lot B-2 of the
Delores O. and  Geoffrey O.  Ventura  property;  thence North 62' 14' 35" East a
distance of one hundred sixty four and ninety seven one hundredths (164.97) feet
to an iron pipe  (flush);  thence North 81' 31' 20" East a distance of sixty six
and zero one hundredths  (66.00) feet to an iron pipe (flush);  thence North 47'
21' 20' East a distance of fifty eight and zero one  hundredths  (58.00) feet to
an iron pipe  (flush);  thence  North 69' 47' 45" East a distance of one hundred
twenty six and fifteen one  hundredths  (126.15)  feet to an iron pipe  (flush);
thence  North 20' 56' 20" East a  distance  of fifteen  and zero one  hundredths
(15.00) feet to an iron pipe (flush) set in the southerly  line of Vermont Route
No.  100;  thence  South  69' 03' 40" East a  distance  of  twenty  and zero one
hundredths  (20.00) feet along the southerly line of Vermont Route No.100 to the
point or place of beginning.

The above  described  rights-of-ways  shall be for common  driveway  and utility
access to and from Route 100 to Lots B-1, B-2, and B-3,  respectively,  as shown
on said  survey  plat.  Grantor  shall bear no cost nor be  responsible  for the
construction or maintenance of a road or utilities upon said rights-of-way.  The
entire cost of  construction  and maintenance of a road over and upon the second
right-of-way  leading from a Y-intersection  with the principal  right-of-way to
and from Route 100,  and which said  second  right-of-way  proceeds in a general
southwesterly  direction  across the far westerly portion of Lot B-2 to Lot B-1,
shall be borne exclusively by the owner of Lot B-1.

The costs of  construction  and maintenance of a road or utilities over and upon
the principal  right-of-way  leading to and from Route 100 shall be  apportioned
among the respective owners as follows:

         Owner                      Share of Road Cost

         Lot B-1                    50%
         Lot B-2                    35%
         Lot B-3                    15%

         Nothing  herein shall be  constructed  to require an owner to incur any
         utility  costs  unless  that  owner is going to use the  utility  lines
         constructed in the right-of-way.

          Provided,  however,  the first  owner to  construct  a dwelling on his
          respective lot shall be

<PAGE>

         responsible for the full costs of construction  and maintenance of said
         road and  utilities  until  such  time as the other  lot  owners  shall
         construct a dwelling on their respective lot whereupon the owner having
         borne the original cost of  construction  of the road shall be entitled
         to reimbursement in accord with the prorations  specified above for the
         cost of construction  of the road and utilities.  The owner deciding to
         build  first,  shall give notice to the other owners and an estimate of
         costs prior to starting  construction  of the road. An owner shall only
         be responsible to pay his share of such construction  expenses that can
         be  accurately  verified by the  presentation  of written paid receipts
         which  describe  the costs of that  portion  of work done for the joint
         portion  of the  right-of-way  as opposed to any other work done on any
         driveway  or other  improvements  outside of said  joint  right-of-way.
         Failure to pay the prorata share  specified  herein above within thirty
         (30) days of the time that  payment is due shall give rise to a lien in
         favor of the owner having paid the original  cost of  construction.  In
         the event that said  owner  first  constructing  has to resort to legal
         action to collect said construction  costs, he or she shall be entitled
         to  collect  his  attorney's   fees  and  reasonable   costs  of  suit.
         Reimbursement  shall be due  thirty  (30)  days  after the date that an
         owner  receives  a  building  permit  from the Town of  Stockbridge  or
         completes  his  foundation,  whichever  first occurs.  Thereafter  said
         owners  shall share the costs of  maintenance  in  accordance  with the
         apportionment  set  forth  herein.  Said  first  owner to  construct  a
         dwelling  shall  not be  entitled  to  receive  any  reimbursement  for
         maintenance costs paid prior to the date of use by a second lot owner.

Lots B-1,  B-2,  and B-3 as shown on said  survey  plat  shall be subject to the
following  restrictions  and covenants which shall be deemed  covenants  running
with the land:

         1. No mobile homes or trailers shall be permitted.

         2. No commercial uses shall be permitted.

         3.No  dwelling  shall be  permitted  except a single  family  residence
           dwelling and appurtenant out buildings

         4.  No farming or other  commercial  agricultural  enterprise  shall be
             permitted,  including the raising of livestock. This covenant shall
             not be  deemed to  prohibit  the  keeping  of pets of  animals  for
             pleasure or personal use.

         Said  restrictions and covenants shall be binding upon and inure to the
         benefit of Grantor and Grantee, and their respective heirs and assigns,
         and shall be  enforceable  exclusively  by Grantor  and the  respective
         owners of Lots B-1, B-2, and B-3.

For purposes of reference to prior  conveyances  made by the late John V. and J.
Lavern Dutton during  lifetimes,  and to which prior conveyances this conveyance
is made subject, reference is made to the following:

<PAGE>

1.       Deed to State of Vermont for highway  purposes  dated November 5, 1936,
         and recorded in Book 29 at Page 302, Stockbridge Land Records;

2. Deed to Cecil  White,  part of the homefarm  south of the Tweed River,  dated
September 10, 1946, recorded in Book 29, Page 103, of the said Land Records;

3. Deed to Mussey  Estate for small  parcel of land with spring  thereon,  dated
October 11, 1949, and recorded in Book 29, Page 157, of said Land Records;

5. Deed to John J. Giorgetti, 6 acres of land, mor or less, recorded in Book 32,
Page 63, of said Land Records;

6. Deed to John C. White of a right-of-way across the meadow 12 feet wide and 12
rods long recorded in Book 32, Page 60A of said Land Records;

7. Deed to Alice K. Turro of 50 acres,  more or less,  recorded in Book 32, Page
251 of said Land Records;

8. Easement deed to  Pittsfield  Electric Co.  recorded in Book 27, Page 408, of
said Land Records.

Reference may be had to the above  mentioned  deeds and the deeds and references
contained therein for a more particular description.

PARCEL B
Being all the same lands and premises  conveyed to Pristine  Mountain Springs of
Vermont,  Inc.  by  Warranty  Deed of Ronald E.  Colton and H.  Jenette  Colton,
husband and wife,  dated July 31, 1995 and  recorded in Book 52, Page 130 of the
Town of Stockbridge Land Records and being more  particularly  described therein
as follows:

Being all the same  lands and  premises  conveyed  to  Ronald E.  Colton  and H.
Jenette Colton,  husband and wife, by Warranty Deed o f David L. North and Karen
North,  husband and wife, dated January 14, 1994 and recorded in Book 50 at Page
549 of the  Town  of  Stockbridge  Land  Records  and  being  more  particularly
described therein as follows:

Being all the same  lands and  premises  conveyed  by David L. North to David L.
North and Karen North, by Warranty Deed dated December 11, 1985, and recorded in
Book 42 at Pages 128-29 of the Town of  Stockbridge  Land Records and being more
particularly described therein as follows:

Being all the same lands and  premises  conveyed  by Lynne A. Holmes to David L.
North,  by Warranty  Deed dated  December 21,  1983,  and recorded in Book 40 at
Pages 254-56 of the Town of

<PAGE>

Stockbridge  Land  Records  and being  more  particularly  described  therein as
follows:

Being all the same lands and  premises  conveyed  to Lynne A. Holmes by Warranty
Deed of Gerald E. Mickel,  dated December 7, 1978,  which is recorded in Book 37
at Pages  63-65 of the Land  Records of the Town of  Stockbridge  and being more
particularly described therein as follows:

Being all the same lands and premises  conveyed by Stratton  Estates,  Inc.,  to
Gerald E. Mickel and Anne E. Mickel, his then wife, now deceased,  by deed dated
June 29, 1972,  and  recorded in Book 33, Pages 474 of the Town of  Stockbridge,
Vermont Land Records and more particularly described in said deed as follows:

Beginning at an iron pin situated in the north line of Schaff-Haus  Drive, which
iron pin  marks  the  southeast  corner  of Lot #1 as shown  on a  Revised  Plan
entitled   "CHALET   VILLAGE,    REVISED    PLAN-JOHN    GIORGETTI-BUILDER-ROUTE
100-STOCKBRIDGE, VT' which revised Plan is dated June 30, 1967 and is on file in
Stockbridge,  Vermont Town Clerk's  Office;  thence running  northerly along the
east line of Lot #1 for a distance of 110 feet to the west line of Lot L; thence
running  northerly  along the west line of Lot L for a distance  of 15 feet to a
point which marks the intersection of the west line of Lot L with the north line
of Lot  #1;  thence  running  westerly  along  the  south  line of Lot #15 for a
distance of 100 feet to the northeast corner of Lot #3; thence running southerly
along the east line of Lot #3 for a  distance  of 125 feet to the north  line of
Schaff-Haus  Drive;  thence running easterly along the north line of Schaff-Haus
Drive, for a distance of 106 feet, to the place of beginning.

Meaning  hereby to convey Lot #1 as shown on the aforesaid Plan and being a part
of the same  lands and  premises  conveyed  by J ohn J.  Giorgetti  to  Stratton
Estates,  Inc. by deed dated March 20, 1967 and recorded in Book 32, Page 428 of
Stockbridge, Vermont Land Records.

This  conveyance  is made  subject to a pole line  easement  as conveyed by John
Giorgetti to Central Vermont Public Service  Corporation by instrument  recorded
November 18, 1961 in Book 32, Page 145 of the Stockbridge,  Vermont Land Records
and is also made subject to such rights of way and easements of record as affect
the above described premises.

To which deed and the record thereof and the deeds and records therein  referred
to,  reference is hereby had for a more  particular  description of the premises
hereby conveyed.

And the  Grantee,  by the  acceptance  of this  deed,  covenants  and agrees for
herself, her heirs and assigns, to pay to Ronald E. Colton (the present owner of
the water system  transferred to him by Stratton  Estates,  Inc.), his heirs and
assigns,  the sum of $75.00 a year for water  furnished by said Ronald E. Colton
to the  Grantee  from the water  system and pump house  situated on Lot 1 of the
aforesaid plan.

This conveyance is made subject to an easement for water pipes, if any, as cross
the above described premises and connect to the water system furnishing water to
the chalets in the Chalet Village."

<PAGE>

PARCEL C

Being all the same  lands and  premises  conveyed  by John C. White and Lloyd H.
white to  Pristine  Mountain  Springs of Vermont,  inc.  by Warranty  Deed dated
August 24,  1995 and  recorded in book 52, 167 of the Town of  Stockridge  lands
records and more particularly described therein as follows:

Being a portion of the lands and premises conveyed to John. C. White,  Henrietta
W. White (now  deceased)  and Lloyd H. White by  Warranty  Deed and from John C.
White and  Henrietta W. White dated  September 29, 1980 and recorded in Book 38,
Page 200 of the land records of the Town of  Stockridge,  Vermont and being more
particularly described as follows:

"Being designate  "Parcel B, 5.99 +/- acres, to be conveyed to Ronald E. Colton"
as shown on a survey  entitled  "Division of a Portion of Lands of John C. White
and Lloyd H. White",  prepared by Michael Engineering Company, P.C. dated May 9,
1995 and bearing the seal and  signature of Ralph J.  Michael,  State of Vermont
R.L.S. No. 130.

Said parcel herein conveyed is more particularly described below:

Beginning  at a point  marked  with an iron pipe  driven in the ground of in the
westerly  boundary  of lands of the herein  grantors  John C. White and Lloyd H.
White, said point being the northeasterly  corner of land of the herein grantee,
Ronald  E.  Colton  and the  southeasterly  corner  of a  parcel  of land now or
formerly of Christopher Antonucci; thence South 21 degrees 19 minutes 50 seconds
West along land of said  Ronald E. Colton  88.19 feet to a point  marked with an
iron  pin  driven  in the  ground  at the  northeasterly  corner  of land new or
formerly  Jane  Spindis and Robert  Gore;  thence South 21 degrees 13 minutes 05
seconds West along said Spindis and Gore land 103.98 feet to a point marked with
an iron pin driven in the ground;  thence South 71 degrees 15 minutes 50 seconds
East in a straight  line through  lands herein  grantors  555.14 feet to a point
marked with an iron pin driven in the ground; thence North 19 degrees 13 minutes
35 seconds East in a straight  line through land of the herein  grantors  561.67
feet to a point marked with an iron pin supposed to be in the southerly boundary
of the public  highway  known as Vermont  Route 100, so called;  thence North 70
degrees 16 minutes 15 seconds West along the southerly  boundary of said highway
315.79  feet to a point  marked  with an iron pin driven in the  ground;  thence
South 47 degrees 09 minutes 10 seconds West in straight  line  through  lands of
the herein grantors 428.13 feet to a point marked with an iron pin driven in the
ground;  thence North 68 degrees 45 minutes 35 seconds  West in a straight  line
through  lands of the  herein  grantors  32.00  feet to the  point  and place of
beginning and contains 5.99 acres by measure.

PARCEL D

     Being all and the same lands and premises  conveyed to Pristine  Springs of
     Vermont,  Inc. by Warranty Deed of Ronald E. Colton dated July 31, 1995 and
     recorded in Book 52, Page 148 of the Town of

<PAGE>

Stockbridge  Land  Records  and being  more  particularly  described  therein as
follows:

Being all and the same lands and premises conveyed by John J. Giorgetti and Mary
C.  Giorgetti,  Husband and wife,  to Ronald E.  Colton by  Warranty  Deed dated
November 19, 1977 and recorded in Book 36 at Page 174 in the Town of Stockbridge
Land Records and being more particularly described therein as follows:

"Beginning at the southeasterly corner of Lot No. 1 and the southwesterly corner
of lot L as shown on plan entitled "CHALET VILLAGE REVISED PLAN JOHN GIORGETTI -
BUILDER ROUTE 100 STOCKBRIDGE,  VT. SCALE 1"=60' DATED JUNE 30, 1967" which plan
is on file in the office of the Stockbridge,  Vermont Town Clerk,  said point of
beginning being situated in the north line of Schaff-Haus Drive,  so-called,  in
Chalet Village,  thence running north 24 degrees 00' East along the east line of
Lot No. 1 and the west line of Lot L for a distance  of 115 feet,  more or less,
to a point, thence South 40 degrees 30' East for a distance of 110 feet, more or
less, to a point in the north line of Schaff-Haus Drive, thence South 45 degrees
30' East along Schiff-Haus Drive for a distance of 34 feet, more or less, to the
place of beginning."

"Meaning by these presents to convey a triangular  piece of land situated on the
easterly  portion of Lot No. 1 and  westerly  of Lot L and being a part of those
lands and premises  conveyed by John J. Giorgetti to Stratton  Estates,  inc. by
deed dated  March 20, 1967 and  recorded  in Book 32,  Page 428 of  Stockbridge,
Vermont  Land  Records  and also  being a portion  of those  lands and  premises
conveyed by Stratton  Estates,  inc. to john J. Giorgetti and Mary C. Giorgetti,
husband and wife,  by deed dated October 20,  1977and  recorded in Book 36, Page
97-9 of Stockbridge Vermont land Records."

"This  conveyance  is made subject to any rights and easements of records as may
affect the premises hereby conveyed."

"Also conveying the building situated on the above described premises,  together
with the entire water system as heretofore  operated by Stratton  Estates,  Inc.
consisting  of, but not limited to, the well,  the water pipes  therefrom to the
pressure tank, thence to all of the Chalets located in Chalet Village.

Also  hereby  conveying  and  transferring  all of  the  equipment  used  in the
operation  of said water  system and  presently  housed in the  building  on the
aforesaid triangular piece of land, also all of the plastic piping, fittings and
other  personal  property  therein  located  to be  used  in the  operation  and
maintenance of said water system.

Also  conveying  and  transferring  the metal  building now situate on Lot No. 1
subject to the proviso,  however, that the Grantee, his heirs and assigns, shall
be obligated to remove said building from its present  location upon the request
of the owner of said lot No. 1.

And the Grantee,  by the acceptance of this deed,  does for himself,  his heirs,
executors, administrators and assigns, covenant and agree to the chalets located
in Chalet Village as well as to the Stockbridge  General Store adjacent  thereto
upon the terms and conditions  recited in the deeds from Stratton Estates,  Inc.
and by John J.  Giorgetti  and Mary C.  Giorgetti  conveying the lots upon which
said

<PAGE>

chalets  are  situated,  to various  grantees,  which deeds are of record in the
Stockbridge  Town Clerk's Office,  it being  understood that there is no written
agreement with the Stockbridge General Store for the furnishing of water and the
Grantee  may, if he sees fit,  work out a written  contract  for water with said
owner.

Also  conveying  and  transferring  whatever  interest the Grantors  have in the
snowplowing  business  heretofore  conducted by Stratton Estates,  Inc. with the
owners of the chalets in Chalet Village,  it being  understood that the Grantee,
his  heirs or  assigns,  shall  use  their  own  equipment  and make  their  own
arrangements for future business with said owners, if necessary."

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00001-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00001-of-00352.parquet"}]]