Document:

REVOLVING LINE OF CREDIT
                                 PROMISSORY NOTE

$6,000,000.00                                                    August 26, 2005

                                                                 -------, ------

     FOR VALUE RECEIVED, the undersigned, THE GOLDFIELD CORPORATION, a Delaware
corporation ("Maker") promises to pay to the order of BRANCH BANKING AND TRUST
COMPANY (hereinafter called the "Bank" or, together with any other holder of
this note, the "Holder") or order, at its place of business at 6430 North
Wickham Road, Melbourne, Florida 32940, or at such other place as the Holder of
this Note may designate in writing, the principal sum of SIX MILLION AND NO/100
DOLLARS ($6,000,000.00), together with interest thereon at the Interest Rate, in
lawful money of the United States, which shall be legal tender in payment of all
debts and dues, public and private, at the time of said payment, said principal
and interest to be payable as set forth below.

     1. INTEREST RATE. The Interest Rate shall equal the adjusted LIBOR Rate, as
defined below:

          a. Adjusted LIBOR Rate means a rate of interest per annum equal to the
     sum obtained (rounded upwards, if necessary, to the next higher 1/100th of
     1.0%) by adding (i) the One Month LIBOR plus (ii) one and eight one-tenths
     percent (1.800%) per annum, which shall be adjusted monthly on the first
     day of each month for each LIBOR Interest Period. If the first day of any
     month falls on a date when the Bank is closed, the Adjusted LIBOR Rate
     shall be determined as of the last preceding business day. The Adjusted
     LIBOR Rate shall be adjusted for any change in the LIBOR Reserve Percentage
     so that Bank shall receive the same yield. The interest rate shall not
     exceed a fixed maximum rate of 99.000 % and will not decrease below a
     minimum rate of 0.00 %.

          b. One Month LIBOR means the average rate (rounded upwards, if
     necessary, to the next higher 1/100th of 1.0%) quoted on Bloomberg Screen
     MMR2 or page 3750 (or such replacement page) of the Telerate Service on the
     determination date for deposits in U.S. Dollars offered in the London
     interbank market for one month, or if the above method for determining
     LIBOR shall not be available, the rate quoted in The Wall Street Journal, a
     rate determined by a substitute method of determination agreed on by
     Borrower and Bank; provided, if such agreement is not reached within a
     reasonable period of time (in Bank's judgment), a rate reasonably
     determined by Bank in its sole discretion as a rate being paid, as of the
     determination date, by first class banking organizations (as determined by
     Bank) in the London interbank market for U.S. Dollar deposits.

          c. LIBOR Advance means the term loan advances made by Bank to Borrower
     evidenced by this Note upon which the adjusted LIBOR Rate of interest shall
     apply.

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          d. LIBOR Interest Period means a period of one calendar month as may
     be elected by the Borrower applicable to any LIBOR Advance which shall
     begin on first day of any month notwithstanding the maturity date of this
     Note; provided, however, that a LIBOR Interest Period may be less than one
     calendar month in and only in the calendar month in which the Note
     originates or matures.

          e. LIBOR Reserve Percentage means the maximum aggregate rate at which
     reserves (including, without limitation, any marginal supplemental or
     emergency reserves) are required to be maintained under Regulation D by
     member banks of the Federal Reserve System with respect to dollar funding
     in the London interbank market. Without limiting the effect of the
     foregoing, the LIBOR Reserve Percentage shall reflect any other reserves
     required to be maintained by such member banks by reason of any applicable
     regulatory change against (i) any category of liability which includes
     deposits by reference to which the Adjusted LIBOR Rate is to be determined
     or (ii) any category of extensions of credit or other assets related to
     LIBOR.

          f. Standard Rate means, for any day, a rate per annum (rounded
     upwards, if necessary to the next higher 1/100th of 1.0%) equal to the
     Bank's announced Prime Rate, and each change in the Standard Rate shall be
     effective on the date any change in the Prime Rate is publicly announced as
     being effective.

          g. Application of Adjusted LIBOR Rate. The adjusted LIBOR Rate shall
     apply to the entire principal balance outstanding of a term loan for any
     LIBOR Interest Period.

          h. Adjusted LIBOR Based Rate Protections.

               (i)  Inability to Determine Rate. In the event that Bank shall
     have determined, which determination shall be final, conclusive and
     binding, that by reason of circumstances occurring after the date of this
     Note affecting the London interbank market, adequate and fair means do not
     exist for ascertaining the LIBOR on the basis provided for in this Note,
     Bank shall give notice (by telephone confirmed in writing or by telecopy)
     to Borrower of such determination, whereupon (a) no LIBOR Advance shall be
     made until Bank notifies Borrowers that the circumstances giving rise to
     such notice no longer exist, and (b) any request by Borrowers for a LIBOR
     Advance shall be deemed to be a request for an advance at the Standard
     Rate.

               (ii) Illegality; Impracticability. In the event that Bank shall
     determine, which determination shall be final, conclusive and binding, that
     the making, maintaining or continuance of any portion of a LIBOR Advance
     (a) has become unlawful as a result of compliance by Bank with any law,
     treaty, governmental rule, regulation, guideline or order (or would
     conflict with any of the same not having the force of law even though the
     failure to comply therewith would not be unlawful), or (b) has become
     impracticable, or would cause Bank material hardship, as a result of
     contingencies occurring after the date of this Note materially and
     adversely affect the London interbank market or Bank's ability to make
     LIBOR Advances generally, then, and in any such event, Bank shall give
     notice (by telephone confirmed in writing or by telecopy) to Borrower of
     such determination. Thereafter, (x) the obligation of Bank to make any
     LIBOR Advances or to convert any portion of the loan to a LIBOR Advance
     shall be suspended until such notice

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     shall be withdrawn by Bank, and (y) any request by Borrower for a LIBOR
     Advance shall be deemed to be a request for an advance at the Standard
     Rate.

          i. Interest Calculation. All interest shall be computed and charged
     for the actual number of days elapsed on the basis of a year consisting of
     three hundred sixty (360) days.

     2. MATURITY DATE. August 26, 2006.

     3. PAYMENTS. Interest at the Interest Rate on the principal balance of the
indebtedness outstanding from time to time shall be payable beginning on
September 26, 2005, and shall be payable on the 26th day of each successive
month thereafter until the Maturity Date at which time all unpaid principal and
interest shall be payable in full.

     4. RIGHT TO SETOFF. Holder is given a lien upon and a security interest in
all property of the undersigned now or at any time hereafter in the possession
of Holder in any capacity whatsoever, including but not limited to any balance
or share of any deposit, certificate of deposit, trust or agency account, as
security for the payment of this Note and the Holder is hereby authorized to
apply, on or after maturity (whether by a acceleration or otherwise) to the
payment of this debt any such funds or property in possession of the Holder
belonging to each Obligor, in such order of application as Holder may from time
to time elect, without advance notice.

     5. DEFAULT RATE. This note and all sums due hereunder shall bear interest
from the date when due (without any prior notice from Holder to Maker or any
Obligor), whether by lapse of time or on acceleration, and also after any
judgement which may be entered against any Obligor and in favor of Holder, at
the Default Rate (as hereinafter defined) until paid. The Default Rate shall be
a rate of interest equal to the Bank's Prime Rate plus 5% per annum.

     6. INTEREST LIMITATION. Anything in this note or any other agreements or
arrangements with the undersigned in connection with the loan evidenced by this
Note to the contrary notwithstanding, in no event shall the amount of interest
due hereunder, together with all amounts reserved, charged, or taken by Holder
as compensation for fees, services, or expenses incidental to the making,
negotiation or collection of the loan evidenced hereby, which are deemed to be
interest under applicable law, exceed the maximum rate of interest on the unpaid
principal balance hereof allowed from time to time by applicable law. If any sum
is collected in excess of the applicable maximum rate of interest, the excess
sum collected shall be applied to reduce the principal debt or be refunded to
Maker, at Holder's option.

     7. CONSENT AND WAIVER. Each Obligor (which term shall mean and include each
Borrower, Maker, Guarantor, and all others who may become liable for all or any
part of the obligations evidenced and secured hereby), does hereby, jointly and
severally: (a) consent to any forbearance or extension of the time or manner of
payment hereof and to the release of all or any part of any security held by the
Holder to secure payment of this Note and to the subordination of the lien of
the mortgage and any other instrument of security securing this Note as to all
or any part of the property encumbered thereby, all without notice to or consent
of that party; (b) agree that no course of dealing or delay or omission or
forbearance on the part of the Holder in exercising or enforcing any of its
rights or remedies hereunder or under any instrument securing this Note shall
impair or be prejudicial to any of the Holder's rights and remedies hereunder or
to the enforcement hereof and that the Holder may extend, modify or postpone the

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time and manner of payment and performance of this Note and any instrument
securing this Note, may grant forbearances and may release, wholly or partially,
any security held by the Holder as security for this Note and release, partially
or wholly, any person or party primarily or secondarily liable with respect to
this Note, all without notice to or consent by any party primarily or
secondarily liable hereunder and without thereby releasing, discharging or
diminishing its rights and remedies against any other party primarily or
secondarily liable hereunder; (c) waive notice of acceptance of this Note,
notice of the occurrence of any default hereunder or under any instrument
securing this Note and presentment, demand, protest, notice of dishonor and
notice of protest and notices of any and all action at any time taken or omitted
by the Holder in connection with this Note or any instrument securing this Note
and waives all requirements necessary to hold that party to the liability of
that party; (d) waive any "venue privilege" and/or "diversity of citizenship
privilege" which they have now or have in the future, and do hereby specifically
agree, notwithstanding the provision of any state or federal law to the
contrary, that the venue for the enforcement, construction or interpretation of
this note shall be the County Court, Circuit Court or Federal Court selected by
the Holder hereof and they do hereby specifically waive the right to sue or be
sued in the court of any other county in the State of Florida, any court in any
other state or country or in any federal court, or in any state or federal
administrative tribunal.

     8. ATTORNEYS' FEES. All parties liable for the payment of this Note agree
to pay the Holder in addition to the principal, premium and interest due and
payable hereon, reasonable paralegal fees, attorneys' fees and costs, whether or
not an action be brought, for the services of counsel employed after maturity or
default to collect this Note or any principal or interest due hereunder, or to
protect the security, if any, or enforce the performance of any other agreement
contained in this Note or in any instrument of security executed in connection
with the loan evidenced hereby, including, but not limited to costs, paralegal
fees and attorneys' fees and costs on any trial, or appellate proceedings, or in
any proceedings under the United States Bankruptcy Code or in any post judgment
proceedings.

     9. EVENTS OF DEFAULT. The failure to pay any part of the principal or
interest when due on this Note or to fully perform any covenant, obligation or
warranty on this or on any other liability to the Bank by any one or more of the
undersigned, by any affiliate of the undersigned (as defined in 11USC Section
(101) (2)), or by any guarantor or surety of this Note (said affiliate,
guarantor, or surety are herein called Obligor); or if any financial statement
or other representation made to the Bank by any of the undersigned or any
Obligor shall be found to be materially incorrect or incomplete; or if any of
the undersigned shall fail to furnish information to the Bank sufficient to
verify the identity of the undersigned as required under the USA Patriot Act; or
in the event of a default under any of the Agreements or any other obligation of
any of the undersigned or any Obligor; or in the event the Bank demands that the
undersigned secure or provide additional security for its obligations under this
Note and security deemed adequate and sufficient by the Bank is not given when
demanded; or in the event one or more of the undersigned or any Obligor shall
die, terminate its existence, allow the appointment of a receiver for any part
of its property, make an assignment for the benefit of creditors, or where a
proceeding under bankruptcy or insolvency laws is initiated by or against any of
the undersigned or any Obligor; or in the event the Bank should otherwise deem
itself, its security interest, or any collateral unsafe or insecure; or should
the Bank in good faith believe that the prospect of payment or other performance
is impaired; or if there is an attachment, execution, or other judicial seizure
of all or any portion of the Borrower's or any Obligor's assets, including an
action or proceeding to seize any funds on deposit with the Bank, and such
seizure is not discharged within 20 days; or if final judgment for the payment
of money shall be rendered

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against the Borrower or any Obligor which is not covered by insurance or debt
cancellation and shall remain undischarged for a period of 30 days unless such
judgment or execution thereon is effectively stayed; or the termination of any
guaranty agreement given in connection with this Note, then any one of the same
shall be a material default hereunder and this Note and other debts due the Bank
by any one or more of undersigned shall immediately become due and payable at
the option of the Bank without notice or demand of any kind, which are hereby
waived. From and after any event of default hereunder, interest shall accrue on
the sum of the principal balance and accrued interest then outstanding at the
variable rate equal to the Bank's Prime Rate plus 5% per annum ("Default Rate")
until such principal and interest have been paid in full, provided that such
rate shall not exceed at any time the highest rate of interest permitted by the
laws of the State of Florida; and further provided that such rate shall also
apply after judgment. In addition, upon default, the Bank may pursue its full
legal remedies at law or equity, and the balance due hereunder may be charged
against any obligation of the Bank to any party including any Obligor. Bank
shall not be obligated to accept any check, money order, or other payment
instrument marked "payment in full" on any disputed amount due hereunder, and
Bank expressly reserves the right to reject all such payment instruments.
Borrower agrees that tender of its check or other payment instrument so marked
will not satisfy or discharge its obligation under this Note, disputed or
otherwise, even if such check or payment instrument is inadvertently processed
by Bank unless in fact such payment is in fact sufficient to pay the amount due
hereunder.

     10. ACCELERATION. If a default or Event of Default shall occur hereunder
and such default shall continue for ten (10) days then at the option of the
Holder, the entire principal sum then remaining unpaid together with any
premiums and accrued interest shall immediately become due and payable without
notice or demand, and said principal and premiums shall bear interest from such
date at the highest legal rate permitted by law, from time to time, to be
charged by Holder, it being agreed that interest not paid when due shall, at the
option of the Holder, draw interest at the rate provided for in this paragraph.
Failure to exercise the above options shall not constitute a waiver of the right
to exercise the same in the event of any subsequent default. If this Note is
payable upon demand, then no terms or provisions contained in this paragraph
shall be deemed or interpreted to alter or abrogate the demand nature of this
Note or the rights of Holder under a demand instrument.

     11. OTHER REMEDIES. If a default or an Event of Default shall occur Holder
shall have in addition to its remedies under this Note, Loan Agreement, and/or
any other instrument securing or executed in conjunction with the loan evidenced
hereby and applicable law all the remedies of a secured party under the Uniform
Commercial Code of the State of Florida and, without limiting the generality of
the foregoing, Holder shall have the right, at its option, and without notice or
demand, to declare the entire amount of this Note remaining unpaid, and all
other liabilities selected by Holder, immediately due and payable, less any
unearned interest or other charges and any rebates required by law (it being the
intention hereof that under no circumstances shall Holder be entitled to receive
at any time any charges not allowed or permitted by law or any interest in
excess of the maximum allowed by law); to set off against this Note all money
owed by Holder in any capacity to the undersigned or any guarantor hereof,
whether or not due; and Holder shall be deemed to have exercised such right of
setoff and to have made a charge against any such money immediately upon the
occurrence of such default even though such charge is made or entered in the
books of Holder subsequent thereto. Upon disposition of any collateral after the
occurrence of any default, undersigned shall be and remain liable for any
deficiency; and Holder shall account to undersigned for any surplus, but Holder

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shall have the right to apply all or any part of such surplus (or to hold the
same as a reserve) against any and all other liabilities of undersigned to
Holder.

     12. FLORIDA LAW. This Note is executed under seal and constitutes a
contract under the laws of the State of Florida, and shall be enforceable in a
Court of competent jurisdiction in that State, regardless of in which State this
Note is being executed.

     13. HEADINGS. The headings of the paragraphs contained in this Note are for
convenience of reference only and do not form a part hereof and in no way
modify, interpret or construe the meaning of the parties hereto.

     14. DOCUMENTARY STAMPS. Documentary stamps in the amount required by
Florida Law have been purchased and affixed to the Mortgage of even date which
secures this Note.

     15. LATE CHARGE. The undersigned promises to pay to the Holder of this note
a "late charge" not to exceed an amount equal to five per cent (5%) of any
principal or interest which is not paid within ten (10) days from the due date
thereof to cover the extra expense involved in handling delinquent payments.
Collection or acceptance by Holder of such late charge shall not constitute a
waiver of any remedies of Holder provided herein. When any installment payment
is past due for ten (10) or more days, subsequent payments shall first be
applied to the past due balance. In addition, the undersigned shall pay to Bank
a returned payment fee if the undersigned or any other obligor hereon makes any
payment at any time by check or other instrument, or by any electronic means,
which is returned to Bank because of nonpayment due to nonsufficient funds.

     16. MISCELLANEOUS.

          (a) The term "Maker", as used herein, in every instance shall include
the Maker's heirs, executors, administrators, successors, legal representatives
and assigns, and shall denote the singular and/or plural, the masculine and/or
feminine, and natural and/or artificial persons whenever and wherever the
context so requires or admits.

          (b) This Note may not be changed orally, but only by an agreement in
writing, signed by the party against whom enforcement of any waiver, change,
modification or discharge is sought.

     All payments made on the indebtedness evidenced by this Note shall be
applied first to repayment of monies paid or advanced by Holder on behalf of the
Maker in accordance with the terms of the Mortgage securing this Note, and
thereafter shall be applied to payment of accrued interest, and lastly to
payment of principal.

     In the event there is any conflict in the terms and conditions of this Note
and the Loan Agreement and other Loan Documents executed by the Borrower or
Guarantors, the terms and conditions of the Loan Agreement, including, but not
limited to, the terms and conditions of the paragraph on Notice and Cure Period
in the Loan Agreement will prevail.

     The interest rate charged under this loan is authorized by Section 687.12,
Florida Statutes and by Chapter 655, Florida Statutes and any applicable federal
laws or regulations.

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     The principal balance hereof may be borrowed and re-borrowed from time to
time during the term hereof in accordance with the terms of the Loan Agreement
but may not exceed at any one time an outstanding principal balance of
$6,000,000.00.

     PAYMENT IN FULL OF THIS NOTE SHALL NOT RESULT IN ITS TERMINATION AS LONG AS
THE LOAN AGREEMENT IS IN EFFECT.

MAKER AND HOLDER HEREBY KNOWINGLY, VOLUNTARILY AND INTENTIONALLY WAIVE THE RIGHT
EITHER MAY HAVE TO A TRIAL BY JURY IN RESPECT OF ANY LITIGATION BASED HEREON, OR
ARISING OUT OF, UNDER OR IN CONNECTION WITH THIS NOTE INCLUDING BUT NOT LIMITED
TO ANY POST JUDGEMENT ACTIONS AND ANY AGREEMENT CONTEMPLATED TO BE EXECUTED IN
CONJUNCTION HEREWITH, OR ANY COURSE OF CONDUCT, COURSE OF DEALING, STATEMENTS
(WHETHER VERBAL OR WRITTEN) OR ACTIONS OF EITHER PARTY. THIS PROVISION IS A
MATERIAL INDUCEMENT FOR THE HOLDER MAKING THE LOAN OR EXTENSION OF CREDIT
EVIDENCED BY THIS NOTE.

                                         SRW      (Initials)
                                   ---------------

Address of Maker:
1684 West Hibiscus Blvd.
Melbourne, Florida 32901           THE GOLDFIELD CORPORATION,
                                   a Delaware corporation

                                   By: /s/ STEPHEN R. WHERRY
                                      ----------------------
                                      STEPHEN R. WHERRY
                                          Treasurer

                                   TAXPAYER IDENTIFICATION NUMBER:
                                            88-0031580

                                        7GUARANTY
                                    --------

     IN CONSIDERATION of the sum of One Dollar ($1.00), cash in hand paid, and
other valuable consideration, as well as for the purpose of seeking to induce
BRANCH BANKING AND TRUST COMPANY, having a principal office at 6430 North
Wickham Road, Melbourne, Florida 32940 (hereinafter termed the "Bank"), to
extend credit to ________________, a ___________ corporation (hereinafter termed
the "Principal"), the undersigned (hereinafter termed the "Guarantor") does
hereby absolutely and unconditionally guarantee to said Bank and to its
endorsers, transferees, successors or assigns of either this guaranty or any of
the obligations secured hereunder, the prompt payment and performance, according
to their respective terms, of all liabilities (as hereinafter defined) of the
Principal to the Bank.

1.   The term "Liability" or "Liabilities" as used herein shall include, without
     limitation, all of the obligations of the Guarantor hereunder, and all
     liabilities and obligations of Principal to Bank arising from or in
     connection with a Commitment Letter dated July 18, 2005 between Principal
     and Bank, and all payment and performance obligations of Principal under
     the Loan Documents executed pursuant to the Commitment Letter. This
     guaranty is additional and supplemental to any and all other guaranties
     heretofore and hereafter executed by any Guarantor for benefit of Bank,
     whether or not relating to the Liabilities, and shall not supersede or be
     superseded by any other document or guaranty executed by any Guarantor or
     any other person or entity for any purpose.

2.   The Guarantor waives notice of acceptance of this guaranty and notice of
     any Liability to which it may apply, and waives presentment, demand for
     payment, protest, notice of dishonor or nonpayment of any Liabilities and
     any suit or the taking of other action by Bank against and any other notice
     to any party liable thereon (including the Guarantor).

3.   Bank may at any time and from time to time without notice to the Guarantor
     (except as required by law), without incurring responsibility to the
     Guarantor, without impairing, releasing or otherwise affecting the
     obligations of the Guarantor, in whole or in part, and without the
     endorsement or execution by the Guarantor of any additional consent, waiver
     or guaranty (a) change the manner, place or terms of payment, and change or
     extend the time of or renew or alter, any Liability or installment thereof,
     or any security therefor, and may lend additional monies or extend
     additional credit to Principal, with or without security, thereby creating
     new Liabilities, the payment of which shall be guaranteed hereunder, and
     the guaranty herein made shall apply to the Liabilities as so changed,
     extended, renewed, increased or otherwise altered; (b) sell, exchange,
     release, surrender, realize upon or otherwise deal with in any manner and
     in any order any property at any time pledged or mortgaged to secure the
     Liabilities and any offset thereagainst; (c) exercise or refrain from
     exercising any rights against Principal or others (including the Guarantor)
     or act or refrain from acting in any other manner; (d) settle or compromise
     any Liability or any security therefor and may subordinate the payment of
     all or any part thereof to the payment of any Liability (whether or not
     due) of Principal to creditors of Principal other than Bank and the
     Guarantor; and (e) apply

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     any sums from any sources to any Liability without regard to any
     Liabilities remaining unpaid.

4.   No invalidity, irregularity or unenforceability of all or any part of the
     Liabilities or of any security therefor shall affect, impair or be a
     defense to this guaranty, and this guaranty is a primary and absolute
     obligation of the Guarantor.

5.   This guaranty is a continuing one, and all Liabilities to which it applies
     or may apply under the terms hereof shall be conclusively presumed to have
     been created in reliance hereon. The death or insanity of any Guarantor
     shall have the effect of a notice of termination only after the Bank has
     actually received written notice from such Guarantor's legal
     representative; provided, however, that no notice of such death or insanity
     shall affect, in any manner, rights arising under this guaranty with
     respect to Liabilities that shall have been created, contracted, assumed or
     incurred prior to receipt by Bank of written notice of such death or
     insanity, or Liabilities that shall have been created, contracted for,
     assumed or incurred after receipt of such written notice pursuant to any
     agreement entered into by Bank prior to receipt of such notice, and the
     estate of such Guarantor shall then remain liable for any such Liabilities,
     and the sole effect of such notice of such death or insanity shall be to
     exclude (as to that Guarantor only) from this guaranty Liabilities
     thereafter arising that are unconnected with Liabilities theretofore
     arising or transactions theretofore entered into. The obligations of any
     other Guarantor shall remain unaffected by the death or insanity of any one
     or more Guarantors.

6.   Notwithstanding anything to the contrary contained herein, this guaranty
     shall stand as and for the Guarantor's guaranty of those certain credits
     granted by Bank to Principal evidenced by that certain revolving line of
     credit promissory note of Principal to Bank dated of even date herewith in
     the original principal amount of _____ MILLION AND NO/100 DOLLARS
     ($___________) according to the terms thereof, and to all renewals,
     extensions, and modifications thereof, plus interest thereon, and any
     disbursements made for the payment of taxes, levies, or insurance on the
     mortgaged property, and for maintenance, repair, protection, and
     preservation of the mortgaged property, with interest on such
     disbursements. Bank, by its acceptance hereof, agrees that upon payment to
     Bank in full of the herein described indebtedness, this guaranty shall be
     of no further force and effect.

7.   All notices provided to be given to Bank herein shall be sent by registered
     or certified mail, return receipt requested, to the address shown in the
     preamble to this agreement.

8.   Any and all rights and claims of the Guarantor against Principal or any of
     its property shall be subordinate and subject in right of payment to the
     prior payment in full of all Liabilities.

9.   Bank at all times, and from time to time, following any material adverse
     change in the financial condition of any one of the Guarantor shall have
     the right to require the Guarantor to deliver to Bank, as security for the
     Liabilities, collateral security, original or additional, satisfactory to
     Bank.

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10.  As security for the Liabilities, Bank is hereby given a lien upon, security
     title to and a security interest in all property of the Guarantor now or at
     any time hereafter in possession of Bank in any capacity whatsoever, and
     whether joint or by the entireties, including but not limited to any
     balance or share of any deposit, account, trust, agency or special account,
     or items of monies of the Guarantor now or hereafter in the possession or
     control of or otherwise with Bank, to include all dividends and
     distributions thereon or other rights in connection therewith, and Bank
     shall have such right to such property as authorized by law. Without
     limiting the generality of the foregoing, Bank shall have a prior perfected
     security interest to secure the Liabilities and may, at any time or from
     time to time at its option and without notice: (a) appropriate and apply
     towards the payment of any of the Liabilities the balance of any such
     account of the Guarantor, and (b) transfer into its own name or that of its
     nominee any such property in the possession or custody of Bank.

11.  The Guarantor shall be in default hereunder upon: (a) non-payment of any
     Liability when due; (b) failure of Principal or the Guarantor to perform
     any agreement creating or otherwise affecting any Liability or any
     provision hereof, or to pay in full, when due, any other obligation of
     Principal or the Guarantor; (c) the dissolution, death or insanity,
     termination of existence, insolvency, or business failure of Principal or
     the Guarantor, appointment of a receiver of any part of the property of
     Principal or of any material part of the property of Guarantor, assignment
     for the benefit of creditors or the commencement of any proceedings in
     bankruptcy or insolvency by Principal or by the Guarantor or the failure to
     timely contest to or to dismiss within thirty (30) days of filing, any
     involuntary proceeding seeking the adjudication of Principal, or the
     Guarantor as bankrupt or insolvent; (d) the entry of a final, unappealable
     judgment having a material adverse effect against Principal or the
     Guarantor; (e) the taking of possession of any substantial part of the
     property of Principal or the Guarantor at the instance of any governmental
     authority; (f) the merger, consolidation or reorganization of Principal or
     the Guarantor; (g) the determination by Bank that a material adverse change
     has occurred in the financial condition of Principal or the Guarantor from
     the conditions set forth in the most recent financial statement of any such
     party heretofore furnished to Bank or from the condition of such party as
     heretofore most recently disclosed to Bank in any manner; or (h) falsity in
     any material respect of, or any material omission in any representation or
     statement made to Bank by or on behalf of Principal or the Guarantor in
     connection with any Liability or other obligation of such parties.

12.  Upon the occurrence of any default hereunder, Bank shall have all of the
     remedies of a creditor and to the extent applicable, of a secured party,
     under all applicable law. Without limiting the generality of the foregoing,
     Bank may, at its option and without notice or demand: (a) declare any
     Liability accelerated and due and payable at once, and (b) take possession
     of any collateral security wherever located, and sell, resell, assign,
     transfer and deliver all or any part of said property of Principal or the
     Guarantor, at any public or private sale, for cash or on credit, and upon
     any such sale, Bank, unless prohibited by law the provisions of which
     cannot be waived, may purchase all or any part of said property to be sold,
     free from and discharged of all trusts, claims, right of redemption and
     equities of the Principal or Guarantor whatsoever; and (c) set off

                                        3

<PAGE>

     against any or all Liabilities or other obligations of the Guarantor all
     money owed by Bank in any capacity to the Guarantor whether or not due, and
     also set off against all other Liabilities of Principal or obligations of
     the Guarantor to Bank all money owed by Bank in any capacity to any
     Principal or the Guarantor, and Bank shall be deemed to have exercised such
     right of setoff and to have made a charge against any such money
     immediately upon the occurrence of such default although made or entered on
     the books subsequent thereto. Until all of the obligations of Principal to
     Bank have been paid and performed in full, Guarantor shall have no right of
     subrogation to Bank against Principal, and Guarantor hereby waives any
     rights to enforce any remedy which Bank may have against Principal and any
     rights to participate in any security for the note.

13.  Guarantor shall pay all costs of collection and reasonable attorneys' fees,
     including reasonable attorneys' fees of any suit out of court, in trial, on
     appeal, in bankruptcy proceedings or otherwise, incurred or paid by Bank in
     enforcing the payment of any Liability or enforcing or preserving any right
     or interest of Bank hereunder, including the collection, sale or delivery
     of any collateral security from time to time pledged hereunder, and after
     deducting such fees, costs and expenses from the proceeds of sale or
     collection, Bank may apply any residue to pay any of the Liabilities and
     the Guarantor shall continue to be liable for any deficiency with interest,
     which shall remain a Liability.

14.  If claim is ever made upon Bank for repayment or recovery of any amount or
     amounts received by Bank in payment or on account of any of the Liabilities
     and Bank repays all or part of said amount by reason of any judgment,
     decree or order of any court or administrative body having jurisdiction
     over Bank or any of its property or any settlement or compromise of any
     such claim effected by Bank with any such claimant (including Principal),
     then the Guarantor agrees that any such judgment, decree, order, settlement
     or compromise shall be binding upon the Guarantor, notwithstanding any
     revocation hereof or the cancellation of any note or other instrument
     evidencing any Liability, and the Guarantor shall be and remain liable to
     Bank hereunder for the amount so repaid or recovered to the same extent as
     if such amount had never originally been received by Bank.

15.  Any acknowledgment, new promise, payment of principal or interest, or
     otherwise, whether by Principal or others (including the Guarantor), with
     respect to any of the Liabilities shall, if the statute of limitations in
     favor of the Guarantor against Bank shall have commenced to run, toll the
     running of such statute of limitations and, if the period of such statute
     of limitations shall have expired, prevent the operation of such statute of
     limitations.

16.  Bank shall not be bound to take any steps necessary to preserve any rights
     in any of the property of the Guarantor against prior parties who may be
     liable in connection therewith, and the Guarantor hereby agrees to take any
     such steps. Bank may, nevertheless, at any time after and during the
     continuance of a default (a) take any action it may deem appropriate for
     the care or preservation of such property or of any rights of the Guarantor
     or Bank therein; (b) demand, sue for, collect or receive any money or
     property at any time due, payable or receivable on account of or in
     exchange

                                        4

<PAGE>

     for any property of the Guarantor; (c) compromise and settle with any
     person liable on such property, or (d) extend the time of payment or
     otherwise change the terms thereof as to any party liable thereon, all
     without notice to, without incurring responsibility to, and without
     affecting any of the obligations of the Guarantor.

17.  No delay on the part of Bank in exercising any of its options, powers or
     rights, or partial or single exercise thereof, shall constitute a waiver
     thereof. No waiver of any of its rights hereunder, and no modification or
     amendment of this guaranty, shall be deemed to be made by Bank unless the
     same shall be in writing, duly signed on behalf of Bank, and each such
     waiver, if any, shall apply only with respect to the specific instance
     involved, and shall in no way impair the rights of Bank or the obligations
     of the Guarantor to Bank in any other respect at any other time.

18.  Bank shall not be required to proceed first against Principal, or any other
     person, firm or corporation, whether primarily or secondarily liable, or
     against any collateral security held by it, before resorting to the
     Guarantor for payment, and the Guarantor shall not be entitled to assert as
     a defense to the enforceability of the guaranty set forth herein any
     defense of Principal with respect to any Liability.

19.  Guarantor hereby subordinates any and all indebtedness of Principal now or
     hereafter owed to Guarantor to all indebtedness of Principal to Bank, and
     agrees with Bank that Guarantor shall not demand or accept any payment of
     principal or interest from Principal, shall not claim any offset or other
     reduction of Guarantor's obligations hereunder because of any such
     indebtedness and shall not take any action to obtain any of the security
     described in and encumbered by the security instruments; provided, however,
     that, if Bank so requests, such indebtedness shall be collected, enforced
     and received by Guarantor as trustee for Bank and be paid over to Bank on
     account of the indebtedness of Principal to Bank, but without reducing or
     affecting in any manner the Liability of Guarantor under the other
     provisions of this Guaranty.

20.  Each Guarantor warrants and represents to Bank that all financial
     statements heretofore delivered by said Guarantor to Bank are true and
     correct in all respects as of the date hereof.

     a.   Guarantor shall promptly, from time to time, furnish Bank with such
          financial reports and data as Bank may request.

     b.   Bank shall have no duty to pass on to Guarantor at any time its
          knowledge about the financial affairs or condition of Principal or of
          any other Guarantor of the Liabilities. Guarantor warrants that it has
          independent means to keep itself informed about these matters.

     c.   The Bank is hereby authorized to deliver a copy of any financial
          statements, tax returns or any other information relating to the
          business operations or financial condition of any Guarantor which may
          be furnished to it or come to its attention pursuant to the Loan
          Documents or otherwise, to any regulatory body or agency having
          jurisdiction over Bank or to any person which shall, or shall have the
          right

                                        5

<PAGE>

          or obligation to, succeed to all or any part of Bank's interest (or
          any interest) in the Loan Documents.

21.  This guaranty may not be changed orally or by implication, and no
     obligation of Guarantor can be released or waived by Bank or any officer or
     agent of Bank, except by a writing, signed by a duly authorized officer of
     Bank. This guaranty shall be irrevocable by Guarantor until all
     indebtedness guaranteed hereby has been completely repaid and all
     obligations and undertakings of Principal under, by reason of, or pursuant
     to the note and loan documents have been completely performed.

22.  If from any circumstances whatsoever fulfillment of any provisions of this
     guaranty, at the time performance of such provision shall be due, shall
     involve transcending the limit of validity prescribed by any applicable
     usury statute or any other applicable law as of the date hereof, with
     regard to obligations of like character and amount, then ipso facto the
     obligation to be fulfilled shall be reduced to the limit of such validity,
     so that in no event shall any exaction be possible under this guaranty that
     is in excess of the limit of such validity as of the date hereof, but such
     obligation shall be fulfilled to the limit of such validity. The provisions
     of this paragraph shall control over every other provision of this
     guaranty.

23.  The failure of any other person to sign this guaranty shall not release or
     affect the obligations or liability of the Guarantor. If more than one
     party executes this Guaranty, the obligations of the Guarantor hereunder
     shall be joint and several and the term "Guarantor" shall include each as
     well as all of them. This Guaranty may be executed in any number of
     counterparts, each of which shall be deemed an original instrument, but all
     such counterparts together shall constitute one and the same instrument.

24.  The term "Guarantor" wherever used herein shall mean the Guarantor or any
     one or more of them. Anyone executing this guaranty shall be bound by the
     terms hereof without regard to execution by anyone else. This guaranty is
     binding upon the Guarantor, his, their, or its executors, administrators,
     successors or assigns, and shall inure to the benefit of Bank, its
     successors, endorsees or assigns. This Guaranty shall in no event be
     impaired by any change which may arise by reason of the death of Principal
     or Guarantor, if individuals, or by reason of the dissolution of Principal
     or Guarantor, if Principal or Guarantor is a corporation or partnership.

25.  Notwithstanding anything to the contrary in this guaranty, the Guarantor
     hereby irrevocably waives all rights it may have at law or in equity
     (including, without limitation, any law subrogating the Guarantor to the
     rights of the Bank) to seek contribution, indemnification, or any other
     form of reimbursement from the Principal, or any other person now or
     hereafter primarily liable for any obligation of the Principal to the Bank,
     for any disbursement made by the Guarantor under or in connection with this
     guarantee or otherwise.

26.  This agreement has been delivered in the State of Florida and shall be
     construed in accordance with the laws of Florida. Wherever possible, each
     provision of this agreement shall be interpreted in such manner as to be
     effective and valid under

                                        6

<PAGE>

     applicable law, but if any provision of this agreement shall be prohibited
     by or invalid under applicable law, such provision shall be ineffective to
     the extent of such prohibition or invalidity, without invalidating the
     remainder of such provision or the remaining provisions of this agreement.
     To the extent permitted by applicable law, the Guarantor hereby waives any
     provision of law that renders any provision hereof prohibited or
     unenforceable in any respect. Guarantor, whether or not a Florida resident,
     hereby waives any plea or claim of lack of personal jurisdiction or
     improper venue in any action, suit or proceeding brought upon to enforce
     this Guaranty or the Liabilities. The Guarantor specifically authorizes any
     such action to be instituted and prosecuted in any Circuit Court in
     Florida, or United States District Court of Florida, at the election of
     Bank, where venue would lie and be proper against any Principal.

27.  GUARANTOR AND BANK HEREBY KNOWINGLY, VOLUNTARILY AND INTENTIONALLY WAIVE
     THE RIGHT EITHER MAY HAVE TO A TRIAL BY JURY IN RESPECT OF ANY LITIGATION
     BASED HEREON, OR ARISING OUT OF, UNDER OR IN CONNECTION WITH THIS GUARANTY
     AND ANY AGREEMENT CONTEMPLATED TO BE EXECUTED IN CONJUNCTION HEREWITH, OR
     ANY COURSE OF CONDUCT, COURSE OF DEALING, STATEMENTS (WHETHER VERBAL OR
     WRITTEN) OR ACTIONS OF EITHER PARTY. THIS PROVISION IS A MATERIAL
     INDUCEMENT FOR THE BANK MAKING THE LOAN OR EXTENSION OF CREDIT EVIDENCED BY
     THIS AGREEMENT.

                          Signatures on following page

                                        7

<PAGE>

Dated this August _____, 2005.

Signed, sealed and delivered
in the presence of:                       "GUARANTOR"

                                          ____________________________,
                                          a _________ corporation

____________________________________      By:_______________________________
Print Name: ________________________         STEPHEN R. WHERRY
                                             Treasurer
____________________________________
Print Name: ________________________

STATE OF FLORIDA
COUNTY OF ______________

     The foregoing instrument was executed and acknowledged before me this
August ____, 2005, by STEPHEN R. WHERRY, as Treasurer of ___________________, a
_____ corporation, on its behalf.

                                              ________________________________
(SEAL)                                        Signature of Notary Public

                                              ________________________________
                                              Name of Notary Public
                                              (Typed, Printed or stamped)

Personally Known ____________ OR  Produced Identification  _____________________
Type of Identification Produced:  ______________________________________________

                                        8

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