Document:

EXHIBIT 10.04

                             SUBSCRIPTION AGREEMENT

Instanet, Inc.
26 West Dry Creek Circle, Suite 600
Littleton, Colorado 80120

Dear Sir or Madam:

     By signing below, the undersigned subscribes to purchase _________________
shares of the Common Stock, $____ par value, of Instanet, Inc., a Nevada
corporation (the "Company"). In payment of the purchase price for the shares of
Common Stock, I hereby deliver to the Company payment in the amount of
$_______________, representing the price per share of $1.00 multiplied by the
number of shares being purchased.

     I acknowledge receipt of the Company's Prospectus dated ________________,
2001 and represent that I have made my investment decision solely on the basis
of information contained in the prospectus. I also represent that I have fully
and accurately completed Exhibit B and that I am an accredited investor as
defined in Exhibit A.

     If I am a resident of a state other than Colorado, Georgia and New York or
Washington, D.C., I qualify as an "accredited investor" within at least one of
the definitions set forth on Exhibit A hereto and otherwise possess the
financial sophistication and experience necessary to evaluate the risks and
merits of an investment in the securities of the Company.

     This will further confirm that no broker/dealer or member of the National
Association of Securities Dealers, Inc. has been involved in any manner
whatsoever in my investment in the Company.

                                            SIGNATURE

                                            Date:
                                                 ------------------------------

                                            Name:
                                                 ------------------------------

                                            Address:
                                                    ---------------------------

                                                    ---------------------------

                                            Telephone:
                                                      -------------------------

                                            Facsimile:
                                                      -------------------------

                                            Social Security Number:
                                                                   ------------

<PAGE>

                                    EXHIBIT A

                             INVESTOR QUALIFICATIONS

     To be an "Accredited Investor," an unaffiliated investor must satisfy at
least one of the following criteria:

     (a) The investor must be an individual who has a net worth (or net worth
with spouse) in excess of $ 1,000,000 (including personal residences and
personal property);

     (b) The investor must be an individual who has had income in excess of
$200,000 (or joint income with the investor's spouse in excess of $300,000) in
each of the past two years, and reasonably expects to reach the same income
level in the current year;

     (c) The investor is (i) a bank as defined in Section 3(a)(2) of the Act, or
a savings and loan association or other institution as defined in Section
3(a)(5)(A) of the Act whether acting in its individual or fiduciary capacity;
(ii) an insurance company as defined in Section 2(13) of the Act; (iii) an
investment company registered under the Investment Company Act of 1940 or a
business development company as defined in Section 2(a)(48) of that Act; (iv) a
Small Business Investment Company licensed by the U.S. Small Business
Administration under Section 301(c) or (d) of the Small Business Investment Act
of 1958; (v) an employee benefit plan within the meaning of Title I of the
Employee Retirement Income Security Act of 1974 if the investment decision is
made by a plan fiduciary, as defined in Section 3 (21) of such act, which is
either a bank, savings and loan association, insurance company, or a registered
investment advisor, or if the employee benefit plan has total assets in excess
of $5,000,000 or, if a self-directed plan, with investment decisions made solely
by persons that are Accredited Investors; (vi) a private business development
company as defined in Section 202(a)(22) of the Investment Advisers Act of 1940;
(vii) an organization described in Section 501 (c)(3) of the Internal Revenue
Code (tax-exempt organization), corporation, Massachusetts or similar business
trust or partnership, not formed for the specific purpose of acquiring the
shares offered herein, with total assets in excess of $5,000,000; (viii) a
broker or dealer registered pursuant to Section 15 of the Securities Exchange
Act of 1934; or (ix) any plan established and maintained by a state, its
political subdivisions or any agency or instrumentality of a state or its
political subdivisions, for the benefit of its employees, if such plan has total
assets in excess of $5,000,000;

     (d) The investor is an entity (partnership, corporation or unincorporated
association) in which all of the equity owners are Accredited Investors; or

     (e) The investor is a trust with total assets in excess of $5,000,000,
which was not formed for the specific purpose of acquiring Shares offered
herein, and whose purchase is directed by a sophisticated person as defined in
Regulation Section 230.506(b)(2)(ii), or the trust has a bank as its trustee
making the investment on behalf of the trust.

<PAGE>

                                    EXHIBIT B

                                 INSTANET, INC.

                     PURCHASER QUESTIONNAIRE FOR INDIVIDUALS

Purpose of the Questionnaire

     Instanet, Inc. (the "Company") is offering for sale shares of its Common
Stock (hereafter the "Securities"). The Securities are registered under the
Securities Act of 1933, as amended (the "Act"), and the securities laws of
certain states. In states where the Securities have not been registered, the
Company must determine that an individual meets certain suitability requirements
in order to rely upon an exemption from various state registration requirements.
This Questionnaire must be completed by any prospective investor who resides in
a state where the Securities have not been registered in order that the Company
can rely upon the provisions of Section 18(b)(3) of the Act and corresponding
state exemptions. This Questionnaire does not constitute an offer to sell or a
solicitation of an offer to buy the Securities.

     THE COMPANY WILL NOT OFFER OR SELL ITS SHARES OF COMMON STOCK TO ANY
INVESTOR WHO RESIDES IN A STATE IN WHICH THE SHARES HAVE NOT BEEN REGISTERED
UNLESS THE INVESTOR HAS COMPLETED A PURCHASER QUESTIONNAIRE AND, ON THE BASIS OF
THE INFORMATION SET FORTH IN THE QUESTIONNAIRE, THE COMPANY HAS CONCLUDED THAT
THE INDIVIDUAL MEETS THE INVESTOR SUITABILITY REQUIREMENTS REQUIRED BY SECTION
18(b)(3) OF THE ACT AND CORRESPONDING EXEMPTIONS UNDER STATE SECURITIES LAWS.

Instructions

     One (1) copy of this Questionnaire should be completed, signed, dated and
delivered to the Company. Please contact the Company (Telephone No. (303)
794-9450) if you have any questions with respect to the Questionnaire.

     PLEASE ANSWER ALL QUESTIONS. If the appropriate answer is "None" or "Not
Applicable" so state. Please print or type your answers to all questions. Attach
additional sheets if necessary to complete your answers to any item.

     Your answer will be kept strictly confidential at all times; however, the
Company may present this Questionnaire to such parties as it deems appropriate
in order to assure itself that the offer and sale of the Securities will not
result in a violation of federal securities laws or the securities laws of any
state.

1.   NAME AND ADDRESS. Please provide the following personal information:
     -----------------

Name:
     ---------------------------------------------------------------------------
Residence Address
(including Zip Code):
                           -----------------------------------------------------

Business Address:
                           -----------------------------------------------------

Telephone:  Res.:                                  Bus.:
                           ------------------------     ------------------------
Preferred Mailing Address:              [ ] Residence          [ ] Business

<PAGE>

2.   AMOUNT OF SUBSCRIPTION COMMITMENT.
     ----------------------------------
     $                       .
      -----------------------

3.   SUITABILITY STANDARDS.
     ----------------------

     (a) Please indicate your individual or joint (with spouse) annual income
during 2001 and your expected annual income* during 2000 by marking the
appropriate box.

                                        INDIVIDUAL             JOINT
                                        ----------             -----

                INCOME               2001      2000      2001      2000
     ------------------------------------------------------------------

     Less than $100,000              [ ]        [ ]       [ ]       [ ]

     $100,001 to $200,000            [ ]        [ ]       [ ]       [ ]

     $200,001 to $300,000            [ ]        [ ]       [ ]       [ ]

     $300,001 to $500,000            [ ]        [ ]       [ ]       [ ]

     $500,001 to $700,000            [ ]        [ ]       [ ]       [ ]

     $700,001 to $1,000,000          [ ]        [ ]       [ ]       [ ]

     In excess of $1,000,000         [ ]        [ ]       [ ]       [ ]

     (b) Please indicate your individual or joint (with spouse) net worth
(excluding the principal residence, its furnishings and your automobiles) by
marking the appropriate box.

                   NET WORTH              INDIVIDUAL    JOINT
     --------------------------------------------------------
     Less than $750,000                      [ ]         [ ]

     $750,001 to $1,000,000                  [ ]         [ ]

     $1,000,001 to $2,000,000                [ ]         [ ]

     $2000,001 to $3,000,000                 [ ]         [ ]

     $3,000,001 to $4,000,000                [ ]         [ ]

     $4,000,001 to $5,000,000                [ ]         [ ]

     $5,000,001 to $6,000,000                [ ]         [ ]

     In excess of $6,000,000                 [ ]         [ ]

-------------------

* For this purpose, a person's income is the amount of his individual adjusted
gross income (as reported on a federal income tax return), increased by the
following amounts: (a) deduction for completion (Section 611 et seq. of the
Internal Revenue Code of 1986, as amended (the "Code"); (b) and exclusion for
interest of tax exempt municipal obligations (Section 103 of the Code); and (c)
any losses of a partnership allocated to the individual (Schedule E of Form
1040).

                                       2

<PAGE>

4.   SOPHISTICATION OF SUBSCRIBER.

     (a) Please indicate the highest educational level you completed:

                  [ ]        High School

                  [ ]        College Degree

                  [ ]        Graduate Degree

     (b) Describe your present or most recent business or occupation. Please
indicate such information as the nature of your employment, the principal
business of your employer, the principal activities under your management or
supervision.

     (c) Please provide the following information concerning your financial
experience:

         (i) Indicate by check mark which of the following categories best
describes the extent of your prior experience in the areas of investment listed
below:

                                         Substantial   Limited         No
                                         Experience   Experience   Experience
                                    --------------------------------------------

         Marketable securities               [ ]          [ ]           [ ]

         Restricted securities               [ ]          [ ]           [ ]

         Government securities               [ ]          [ ]           [ ]

         Municipal (taxexempt)               [ ]          [ ]           [ ]
           securities

         Stock Options                       [ ]          [ ]           [ ]

         Commodities                         [ ]          [ ]           [ ]

         Real estate programs                [ ]          [ ]           [ ]

         Securities for which                [ ]          [ ]           [ ]
           no market exists

         Limited partnerships                [ ]          [ ]           [ ]

         Tax deferred                        [ ]          [ ]           [ ]
           investment generally

     (ii) For those investments for which you indicated "substantial experience"
above, please answer the following additional questions by checking the
appropriate box:

                                       3

<PAGE>

         (A) Do you make your own investment decisions with respect to such
investments?

                  [ ]   Always                [ ]    Frequently
                  [ ]   Usually               [ ]    Rarely

         (B)      What are your principal sources of investment knowledge or
                  advice (you may check more than one):

                  [ ]   First hand experience with industry
                  [ ]   Financial publication(s)
                  [ ]   Trade or industry publication(s)
                  [ ]   Banker(s)
                  [ ]   Broker(s)
                  [ ]   Investment Adviser(s)
                  [ ]   Attorney(s)
                  [ ]   Accountant(s)

     (iii) Indicate by check mark whether you maintain any of the following
types of accounts over which you, rather than a third party, exercise investment
discretion, and the length of time you have maintained each type of account.

           Securities (cash)    [ ]       [ ]     Number of years
                                                                 --------------
                                Yes        No

           Securities (margin)  [ ]       [ ]     Number of years
                                                                 --------------
                                Yes        No

           Commodities          [ ]       [ ]     Number of years
                                                                 --------------
                                Yes        No

     (iv)  Indicate on the line below the estimated present fair market value of
all marketable securities currently owned by you, individually, or jointly with
your spouse:

           Estimated value of marketable securities portfolio: $
                                                                ---------------

     (v)   Indicate on the line below the estimated present value of all
"restricted securities" currently owned by you, individually, or jointly with
your spouse:

           Estimated value of restricted securities portfolio: $
                                                                ---------------

     (d) Please provide in the space below any additional information which
would indicate that you have sufficient knowledge and experience in financial
and business matters so that you are capable of evaluating the merits and risks
of investing in restricted securities of an enterprise such as the Company, and,
specifically, provide information regarding your experience in investing in
private placements of restricted securities where there did not exist at the
time of purchase any public market for the securities.

                                       4

<PAGE>

5.   By signing the Questionnaire I hereby confirm the following statements:

     (a) I acknowledge that any delivery to me of offering materials relating to
the Units prior to the determination by the Company of my suitability as an
investor shall not constitute an offer of the Securities until such
determination of suitability shall be made, and I agree that I shall promptly
return the offering materials to the Company upon request.

     (b) My answers to the foregoing questions are true and complete to the best
of my information and belief, and I will promptly notify the Company of any
changes in the information I have provided.

                                            (Printed Name)

                                            (Signature)

DATE AND PLACE EXECUTED:

Date:
      ----------------------------------

Place:
       ---------------------------------

                                       5AMENDED & RESTATED

AMENDED & RESTATED

AMENDMENT AND WAIVER AGREEMENT

THIS AMENDED & RESTATED AMENDMENT AND WAIVER AGREEMENT, dated as of April 15, 2001
(this "Agreement"), is among ALLEGIANCE FUNDING I, LLC (the
"Depositor"), MANUFACTURERS AND TRADERS TRUST COMPANY (the "Trustee"),
POINT WEST CAPITAL CORPORATION (the "Servicer") and as consented to by the
Certificateholders named on the signature pages hereto.

RECITALS

                   
WHEREAS, (i) the Depositor, the Trustee and the Servicer are parties to that certain Trust
Agreement, dated as of August 1, 1998 (as amended from time to time, and including all
supplements thereto, the "Trust Agreement"), and (ii) the Depositor, the Trustee
and the Servicer are parties to that certain Third Amended and Restated Supplement to
Trust Agreement for Revolving Series 1998-1, dated as of April 14, 2000 (the "Series
1998-1 Revolving Supplement"), pursuant to which the Depositor issued the Allegiance
Capital Trust I Revolving Certificates, Series 1998-1 (the "98-1 Revolving
Certificates").

                   
WHEREAS, the Loan to Peavy & Brooks International, Inc. (the "PBI Loan")
held by the Depositor and the Loan to Southern Acquisitions, Inc. (the "Southern
Loan") held by the Depositor have become Defaulted Loans and have caused the
Depositor to be in violation of certain provisions of the Trust Agreement.

                   
WHEREAS, the parties previously agreed to amend a provision of the Series 1998-1 Revolving
Supplement and to amend and waive certain provisions of the Trust Agreement on the terms
and conditions set forth in the Amendment and Waiver Agreement dated as of December 15,
2000 (the "Initial Waiver").

                   
WHEREAS, the Scheduled Maturity of the 98-1 Revolving Certificates, as amended under the
Initial Waiver, is February 15, 2001.

                   
WHEREAS, pursuant to Section 9.02 of the Trust Agreement, the Depositor, the Servicer and
the Trustee may amend, modify or waive the provisions thereof with the prior written
consent of the Holders of each Outstanding Certificate and may amend, modify or waive the
provisions of the Series 1998-1 Revolving Supplement with the prior written consent of the
Holders of the 98-1 Revolving Certificates.

                   
WHEREAS, the parties have agreed to further amend a provision of the Series 1998-1
Revolving Supplement and to amend and waive certain provisions of the Trust Agreement on
the terms and conditions set forth in this Agreement.

                   
NOW, THEREFORE, the parties hereto agree as follows: 

                   
1.      Definitions. Each capitalized term used and not
otherwise defined herein, including those used in the Recitals, has the meaning set forth
in the Trust Agreement.

                   
2.      Amendments to Series 1998-1 Revolving Supplement.
  The definition of "Scheduled Maturity" in the Series 1998-1 Revolving
Supplement is hereby amended by deleting the date "December 15, 2000" therein
and substituting in its place the date "May 15, 2001". Notwithstanding the
foregoing, the 

1

increase in interest rate that became effective on March 1, 2001 under Section 5 of the
1998-1 Revolving Supplement (as amended by the Initial Waiver) shall remain in effect.

                   
3.      Amendments to Trust Agreement. Solely with respect to
the PBI Loan and the Southern Loan, each of the Depositor, the Servicer, the Trustee and
the Certificateholders agree to amend the following provisions of the Trust Agreement on
the following terms:

                           
(a)      Clause (b) of the definition of "Adjustment
Amount". The words "within sixty (60) days from the date the Loan became a
Defaulted Loan" in clause (b) of the definition of "Adjustment Amount" are
hereby deleted and replaced with the words "on or before July 16, 2001";

                           
(b)     Clause (c) of the definition of "Adjustment Amount".
The words "within one hundred twenty (120) days from the date of receipt of such
letter of intent" in clause (c) of the definition of "Adjustment Amount"
are hereby deleted and replaced with the words "on or before September 17,
2001";

                           
(c)     Section 1.03(b). Section 1.03(b) is hereby amended to
provide that Recoveries in respect of the PBI Loan or the Southern Loan shall be applied
first to reimburse the Reserve Account for any Recovery Expenses allocable to such PBI
Loan or Southern Loan and previously withdrawn from the Reserve Account.

                           
(d)     Section 5.03(d). Section 5.03(d) is hereby amended to allow
disbursement of funds from the Reserve Account on each Distribution Date to reimburse the
Servicer or the Special Servicer, as applicable, for Recovery Expenses allocable to the
PBI Loan and/or Southern Loan if (i) the Certificateholder Agent has provided to the
Depositor, the Servicer and the Special Servicer written consent to such disbursement and
(ii) the remaining balance in the Reserve Account after such disbursement would equal or
exceed the Reserve Account Floor Amount. The Depositor, the Servicer or the Special
Servicer, as applicable, shall provide a written request for such disbursement to the
Certificateholder Agent by the 3rd day of the calendar month in which such disbursement is
to be made (or the next Business Day if such day is not a Business Day) and the
Certificateholder Agent shall provide written consent or refusal to consent no later than
the 10th day of such calendar month (or the next Business Day if such day is not a
Business Day) and, assuming such request is timely delivered, the Certificateholder
Agent's approval shall not be unreasonably withheld. The Certificateholder Agent's written
consent shall be deemed to be direction to the Trustee to make such disbursement pursuant
to Schedule 9 of the Servicing Report.

                           
(e)      Section 6.01. Section 6.01 is hereby amended to delete
the period at the end of subparagraph (j) thereof and replace it with a semi-colon and to
add the following new clause at the end thereof:

                           
(k)      the failure of the Special Servicer to provide to the
Certificateholders and the Certificateholder Agent weekly reports as to the status of the
PBI Loan and the Southern Loan, including a comparison of actual results to the projected
timeline for completion of the workout of each such Defaulted Loans indicated on Exhibit A
hereto, so long as such Loans are included in the Trust Estate and have not been
re-classified as performing Loans or Liquidated Loans.

2

                   
4.      Waivers. The Trustee and the Certificateholders hereby
waive through but not beyond July 16, 2001, any Default by the Depositor under Section
6.01(f) of the Trust Agreement, provided, however, that a Depositor Event of Default under
Section 6.01(f) shall be deemed to exist on and after July 17, 2001 if the 98-1 Revolving
Certificates that are Rated Certificates have not been paid in full on or before July 16,
2001.

                   
5.      Expenses. The Trust shall reimburse from funds on
deposit in the Reserve Account all reasonable fees, costs and expenses incurred by the
Certificateholder Agent and the Holders of the Rated Certificates in connection with their
review of this Agreement, including without limitation the reasonable fees of their
special counsel (namely, Day, Berry & Howard LLP). In each applicable monthly Servicer
Report the Servicer shall from time to time instruct the Trustee to effect any such
reimbursements.

                   
6.      Governing Law. This Agreement shall be governed by and
construed in accordance with the internal laws of the State of New York.

                   
7.      General. This Agreement and all the provisions hereof
shall be binding upon and inure to the benefit of the parties hereto and their respective
successors and permitted assigns. This Agreement may be executed in one or more
counterparts, all of which taken together shall constitute one instrument. Delivery of an
executed counterpart of a signature page to this Agreement by telecopier shall be as
effective as delivery of a manually executed counterpart of this Agreement.

                   
8.      Ratification. Except as expressly modified and
superseded by this Agreement, each of the Trust Agreement and the Series 1998-1 Revolving
Supplement is ratified and confirmed in all respects and shall continue in full force and
effect.

3

 

IN WITNESS WHEREOF, the parties hereto have executed this Amended &
Restated Amendment and Waiver Agreement as of the day and year first above written.

 

  
    
      
        
          ALLEGIANCE FUNDING I, LLC, as Depositor 

          
        

        
          	/s/Michael W. McDermitt
	

              
	VP & Secretary

          

        

        
          
            
              
                
                  
                    
                       

                    

                  

                

              

            

          

          MANUFACTURERS AND TRADERS TRUST COMPANY, as Trustee

        

        
           

          	/s/Russell T. Whitley

            
            	

              

            
            	Asst. Vice President

            
          
          

        

        
          
            
              
                
                  
                    
                       

                    

                  

                

              

            

          

          POINT WEST CAPITAL CORPORATION, as Servicer

          
            
              
                
                  
                    
                       

                    

                  

                

              

            

          

        

        
           

          	/s/Alan B. Perper

            
            	

              

            
            	President

            
          
          

        

        
          
            
              
                
                  
                    
                       

                    

                  

                

              

            

          

        

      

    

  

Consented and Agreed:

Each of the Certificateholders authorizes and directs the Trustee to
execute the foregoing Amended & Restated Amendment and Waiver Agreement..

TICE & CO., as registered owner of the Class A-R
Certificates

	/s/Brian D. Hunt
	

    
	Partner

 

TICE & CO., as registered owner of the Class B-R
Certificates

 

	/s/Brian D. Hunt
	

    
	Partner

 

TICE & CO., as registered owner of the Class C-R
Certificates

 

	/s/Brian D. Hunt
	

    
	Partner

________

 

ALLEGIANCE FUNDING I, LLC, as registered owner of the Class D-R
Certificates

 

	/s/Michael W. McDermitt
	

    
	VP & Secretary

 

PACIFIC LIFE INSURANCE COMPANY 

	/s/Cathy Schwartz
	

    
	Asst. Vice President

	/s/Jane M. Guon
	

    
	Asst.  Secretary

UNITED OF OMAHA LIFE INSURANCE COMPANY

 

	/s/Kent Knudsen
	

    
	Sr. Vice President

NATIONWIDE LIFE INSURANCE COMPANY

 

	/s/Mark W. Poeppelman
	

    
	Associate Vice President

LIBERTY LIFE INSURANCE COMPANY (Certificates held in the nominee
name HARE & CO.)

 

	/s/Adam Emerson
	

    
	Authorized Officer

 

TICE & CO., registered owner of the Class C Certificates

 

	/s/Brian D. Hunt
	

    
	Partner

 

TICE & CO., registered owner of the Class D Certificates

	/s/Brian D. Hunt
	

    
	Partner

TICE & CO., registered owner of the Class E Certificates

 

	/s/Brian D. Hunt
	

    
	Partner

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