Document:

Exhibit 10.16

                         RECEIVABLES PURCHASE AGREEMENT
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     This Receivables Purchase Agreement (the "Agreement") is entered into as of
June 20, 2001 by and between MONTEREY FINANCIAL SERVICES, INC. (MFS), a
California Corporation with its address at 4095 Avenida de l Plata, Oceanside,
California 92056 and COLLEGE BOUND STUDENT ALLIANCE, INC. a Nevada corporation
and its subsidiary COLLEGE PARTNERSHIP, INC. a Delaware company , ("SELLER"),
with its address at 333 S. Allison Pkwy., Ste. 100, Lakewood, CO 80226 , with
respect to the following facts:

                                    RECITALS

     A. SELLER is in the business of providing certain products and services to
various individuals from time to time and SELLER finances the cost of such
products and services by entering into retail installment contracts, promissory
notes, security agreements, membership agreements and/or other instruments
(each, a "Contract" and collectively, the "Contracts") with such individuals.
Seller's services and/or products are described on Schedule "A" attached hereto
and incorporated herein by this reference.
     B. MFS is in the business of purchasing instruments such as the Contracts
in its ordinary course of business.

        NOW, THEREFORE, in consideration of the above premises and of the
representations, warranties and agreements contained herein, the parties hereby
covenant and agree as follows:

     1. DEFINITIONS. The following terms shall have the following meaning as
used in this Agreement.

        (a) "Assignment" means an Irrevocable Assignment in a form approved by
MFS, transferring and assigning to MFS all of SELLER's right, title and interest
in and to a Purchased Contract, all payments thereunder and all related
guaranties and collateral therefor on a form prescribed by MFS.

        (b) "Collected Funds," with respect to a Servicing Contract, means all
monies collected on such Servicing Contract due to SELLER or any of SELLER's
affiliates.

        (c) "Contract" has the meaning set forth in Recital A above and must be
on a form approved by MFS.

        (d) "Contract/Credit Application" means an executed original Contract,
an original credit application, and/or an original credit report or statement
concerning the Customer and any related documents and information from time to
time required by MFS in accordance with MFS's standard procedures.

        (e) "Customer" means an individual who enters into a Contract with
SELLER.

        (f) "Default" means (i) a breach by SELLER, which has not been cured
during any applicable cure period, of any representation, warranty, covenant,
term or condition of this Agreement or of any documents to which SELLER is
obligated or by which it is bound in connection with a Contract, (ii) a default
under any guaranty of the obligations of SELLER hereunder which has not been
cured during any applicable cure period, (iii) a default by SELLER under any
other agreement by and between SELLER or any affiliate thereof and MFS and any
affiliate thereof which has not been cured during any applicable cure period, or
(iv) a Material Adverse Change in Financial Condition with respect to SELLER.

        (g) "Defaulted Contract" has the meaning set forth in Section 5 hereof.

        (h) "Event of Cancellation" shall, with respect to a Contract, refer to
(i) a Material Adverse Change in Financial Condition, business or operations of
SELLER since the date of this Agreement or of the Customer since the date of the
related Final Contract/Credit Applications or (ii) the occurrence of an event
which causes a representation made by the Customer, SELLER or any other party in
connection with the Contract or under this Agreement to be or become false or
misleading in any material respect whether or not true when made or,(iii) a
breach of any term of such Contract, or of any related guaranty or credit
support agreement, whether by the customer or SELLER, including without
limitation, failure or SELLER to deliver the underlying products or services to
customer or (iv) any Default; or (v) notification by a Customer to SELLER or to
MFS of its intent to cancel all or any part of the Contract or (vi) if the
SELLER and/or MFS is named in a lawsuit over the actions of the SELLER.

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        (i) "Final Contract/Credit Application" means such documents as MFS
shall from time to time require in accordance with its standard procedures in
order to complete the purchase of a Contract and to pay the Purchase Price of
the Contract to SELLER including, without limitation, (i) an Assignment; (ii)
the one and only executed original of the Purchased Contract; (iii) any Uniform
Commercial Code financing statements necessary to perfect MFS's interest in the
Purchased Contract; and (iv) any other document or instrument required by the
terms of MFS's written notice to SELLER pursuant to Section 2 below including,
without limitation any guaranties or security agreements.

        (j) "Material Adverse Change in Financial Condition" means a significant
negative change in the balance sheet or profit and loss statements of SELLER or
a Customer from time to time, insolvency, inability to pay debts as they mature,
failure to operate as a going concern, voluntarily or involuntarily filing
bankruptcy, making an assignment for the benefit of creditors, appointment of a
receiver, dissolution, change in the corporate structure or in a material
portion of the stock ownership or, as to a Customer, the death or incapacity of
the Customer.

        (k) "Purchased Contract" means a Contract, the Customer of which meets
all of the credit and income requirements of MFS at the time it is purchased and
which MFS elects, in its sole discretion, to purchase pursuant to the terms
hereof.

        (l) "Purchase Price," with respect to each Contract, means the amount
set forth on the attached Schedule "A".

        (m) "Repurchased Contract" means a Purchased Contract which has been
repurchased by SELLER pursuant to the terms hereof.

        (n) "Repurchase Price" means the price at which SELLER is obligated to
repurchase a Purchased Contract from MFS and shall be an amount equal to (i) the
Purchase Price paid by MFS to SELLER less all payments attributable to principal
received on such Purchased Contract; plus (ii) a Repurchase Fee in an amount set
forth on Schedule "A" attached hereto.

        (o) "Reserve Amount," with respect to each Contract, means the amount to
be withheld by MFS from the Purchase Price for each Purchased Contract as set
forth on Schedule "A" attached hereto, which Reserve Amount shall be withheld as
a reserve against losses which may be incurred by MFS on any of the Purchased
Contracts.

        (p) "Reserve Account" means the balance of all Reserve Amounts for all
Purchased Contracts withheld by MFS from time to time, which shall be held by
MFS in a non-interest bearing account.

        (q) "Reserve Rebate" means the amount set forth on Schedule "A" attached
hereto which will be paid by MFS to SELLER from time to time pursuant to Section
3(b) of this Agreement.

        (r) "Servicing Contract" means any Contract which MFS has elected not to
purchase for any reason and any Repurchased Contracts, which MFS elects, in its
sole discretion, to administer and service pursuant to the terms of this
Agreement.

        (s) "Servicing Fee," with respect to each Servicing Contract, means the
amount set forth on Schedule "A" attached hereto which will be paid by SELLER to
MFS as compensation for MFS's administration and servicing of the Servicing
Contracts.

        (t) "Term," with respect to this Agreement, means the period of time set
forth on Schedule "A" attached hereto; provided, however, that MFS may terminate
this Agreement immediately upon notice to SELLER in the event of a Default not
cured by Seller.

     2. PURCHASE OF CONTRACTS. Subject to the terms and conditions of this
Agreement during the Term, MFS shall have the option, but not the obligation, in
its sole discretion on a case by case basis, to purchase all of SELLER'S rights,
title and interest in and to the Contracts submitted by SELLER to MFS. Upon the
execution of a Contract, SELLER shall provide to MFS the Contract/Credit
Application. Upon receipt thereof, MFS shall review the Contract/Credit
Application and shall notify SELLER whether it elects to exercise its option to
purchase such Contract by delivery of written notice to SELLER within ten (10)
days after MFS's receipt of the Contract/Credit Application. If MFS exercises
its right to purchase a Contract, SELLER shall submit a Final Contract/Credit
Application to MFS. MFS's obligation to purchase any Contracts shall be
conditioned upon MFS's receipt of a complete Final Contract/Credit Application
with respect thereto in form and substance acceptable to MFS. In no event shall
MFS assume or be delegated any of SELLER's duties, responsibilities, liabilities
or obligations to the Customer under any Contract and SELLER shall remain liable
therefor notwithstanding an assignment of a Purchased Contract to MFS. The

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parties agree that MFS shall be entitled to directly receive and retain any and
all amounts due and payable under the Purchased Contracts. All Purchased
contracts shall be sold to MFS subject to the representations, warranties,
covenants, agreements, terms and conditIons set forth in this Agreement, and
shall be accompanied by an Irrevocable Assignment, substantially in the form
attached hereto as Exhibit A, SELLER acknowledges and agrees that MFS shall be
entitled to elect not to purchase or service any Contract for any reason
whatsoever in its sole and absolute discretion.

     3. FUNDING OF PURCHASE PRICE; RESERVE ACCOUNT.

        (a) Provided that no Event of Cancellation has occurred with respect to
a Contract that MFS has elected to purchase, MFS shall, within five (5) business
days after SELLER's submission of a complete Final Contract/Credit Application
to MFS, pay to SELLER the Purchase Price for each Purchased Contract less(i) the
Reserve Amount which shall be retained by MFS in the Reserve Account (non-
interest bearing account) and may be commingled with MFS's other funds, (ii) any
adjustment to Purchase Price, if applicable, as set forth in Schedule A.

        (b) The amount of the Reserve Account shall, at all times, be at least
equal to the Minimum Reserve as such term is defined in Schedule "A" attached
hereto. The reserve account, which is a pooled reserve, shall be held for a
minimum of six months from the date of the first bulk purchase. MFS shall
deliver to SELLER by no later than the last day of the seventh month from the
date of the first bulk purchase and every three months thereafter, a report
which identifies the Reserve Amount and a Reserve Rebate as identified in
Schedule "A". SELLER acknowledges and agrees that MFS shall retain the Reserve
Account in MFS's sole possession and control in accordance with this Section 3.
MFS shall pay to SELLER the Reserve Rebate calculated as set forth on Schedule
"A" and as follows: The minimum as stated in schedule "A" will always be kept in
the Reserve Account. Other than the Reserve Rebate, no interest or other sum
will ever be paid by MFS to SELLER on amounts held in the Reserve Account.
Except with respect to the Reserve Rebate, the Reserve Account shall be held by
MFS until the later of the date on which (i) all sums due to MFS on all
Purchased Contracts have been paid in full, (ii) this Agreement has been
terminated and MFS has been paid in full for all amounts due hereunder, or (iii)
MFS no longer has any contingent liability to return any amounts which it may
have received pursuant to any Purchased Contract under applicable laws.

     4. REPRESENTATIONS AND WARRANTIES.

        (a) SELLER hereby represents, warrants and covenants to MFS, its
successors and assigns, as of the date hereof and as of the date of submission
of each Contract/Credit Application, Final Contract/Credit Application and
Assignment in respect of each Contract, that:

            (1) If a corporation, partnership or limited liability company,
SELLER is duly organized and validly existing and in good standing in the state
or its incorporation as such, and has full power to carry on its business as it
is presently conducted including, without limitation, the sale of the Contracts,
to enter into this Agreement and to carry out the transactions contemplated
hereby;

            (2) the execution and delivery of this Agreement, the assignment of
the Purchased Contracts to MFS, and the performance by SELLER of the
transactions contemplated hereby have been duly authorized by all necessary
action, including any action required under Seller's governing instruments;

            (3) the execution, delivery and performance of this Agreement and
the assignment of the Purchased Contracts to MFS, and the execution of any other
instrument related to this Agreement, constitute a legal, valid and binding
obligation of SELLER enforceable in accordance with its terms, without any
offsets or counterclaims, and no further actions are required for SELLER to
enter into this Agreement and such other instruments;

            (4) to the best of SELLER's knowledge, all of SELLER's business
operations are duly licensed and permitted under all federal, state and local
laws, rules and regulations of any governmental authority;

            (5) SELLER has duly paid any and all license, franchise, corporation
or other taxes, fees, imposts, duties or charges levied, assessed or imposed
upon it or upon any of its properties of whatsoever kind or description;

            (6) neither the execution of this Agreement nor the consummation of
the transactions contemplated hereby will constitute a violation or default of
any statute, rule or decree of any court, administrative agency or governmental
body to which SELLER is or may be subject;

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            (7) there are and will be no agreements between SELLER or its agents
and any Customer in connection with any Purchased Contract and no express or
implied warranties have been or will be made by SELLER or its agents to such
Customer, except as set forth in the Contract;

            (8) SELLER and its agents have not participated in and have no
knowledge of any fraudulent and/or misleading act in connection with any
Contract or with respect to any Customer;

            (9) to the best of SELLER's knowledge, each Customer is bonafide and
has legal capacity to enter into such Contract and the signature of the named
Customer is genuine;

            (10) to the best of SELLER's knowledge, each Contract is and shall
be valid, genuine and noncancellable, enforceable according to its terms and in
compliance with applicable laws, rules and regulations of any governmental
authority whether federal, state, county, municipal or otherwise including,
without limitation, usury laws, the Federal Truth-in-Lending Act, the Equal
Credit Opportunity Act, the Fair Credit Billing Act, the Fair Credit Reporting
Act, the Fair Debt Collection Practices Act, the Federal Trade Commission Act,
the Magnuson-Moss Warranty Act, Federal Reserve Board Regulations B, M and Z,
state adaptions of the National Consumer Act and of the Uniform Consumer Credit
Code and any other consumer credit, equal opportunity, disclosure or
repossession laws or regulations applicable with respect to a particular
Contract.

            (11) to SELLER's actual knowledge, each Contract is a valid deferred
payment obligation for the amount therein set forth and such Contract shall not
be subject to any disputes, offsets or counterclaims and the property, goods or
services described in the Contract have never been the subject of any other
Contract between SELLER and the Customer and the Contract has not been rescinded
by SELLER or Customer for any reason whatsoever, SELLER is not in breach under
any obligation to any Customer under any Contract, and has no actual knowledge
of any personal defenses that the Customer could raise against the enforcement
of the terms of any Contract; SELLER has no actual knowledge of any facts which
may result in the uncollectability or unenforecability of any contract;

            (12) all credit or other information reasonably relevant to a credit
determination concerning the Customer known to SELLER will have been disclosed
to MFS and such credit information and all other information supplied by SELLER
in connections with any Contract shall be true, complete and correct as of the
date submitted; SELLER shall supplement such information as necessary so that
such information remains true, complete and correct; SELLER has no knowledge of
any facts, which presently or upon the occurrence of certain events in the
future, may result in the uncollectability and/or unenforceability of the
Contract; SELLER acknowledges that MFS will rely upon information appearing on
SELLER's records relating to all Contracts and Final Contracts/Credit
Applications, and in light of such acknowledgment, each item of information
contained in and appearing on such records accurately reflects their true
status;

            (13) except as otherwise disclosed by SELLER, SELLER owns each
Contract submitted to MFS hereunder free and clear of any liens, charges,
security interests, encumbrances or other restrictions or transfer which may
adversely affect MFS's rights with respect thereto, including without
limitation, MFS's rights under this Agreement to be the assignee of all
Purchased Contracts and to collect all monies due thereunder, SELLER has the
absolute right to sell, assign and transfer the contracts free and clear of all
rights of third parties, and upon assignment MFS will obtain good title to such
Purchased Contract free and clear of any liens, charges, encumbrances or other
restrictions whatsoever;

            (14) except as otherwise disclosed by SELLER, the execution and
delivery by SELLER of this Agreement and the assignment of the Purchased
Contracts to MRS and the security interests granted to MFS from time to time
pursuant to the terms hereof, do not conflict with or constitute a material
breach or default with respect to any indenture, loan or credit agreement,
mortgage, lease, deed or other agreement to which it is a party or by which it
or its properties are bound and there are no suits or proceedings pending or, to
the knowledge of SELLER, threatened in any court or before any regulatory
commission, board or other administrative or governmental agency against or
affecting SELLER which could materially impair SELLER's ability to perform its
obligations hereunder;

            (15) the financial statements of SELLER delivered to MFS from time
to time fairly present the financial position of SELLER as of the date thereof
in conformity with generally accepted accounting principles consistently applied
and the results of operations of SELLER for the periods covered thereby and do
not, as of the date thereof, include any material misstatement or omit to state

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any material liability, absolute or contingent, and since the date of the latest
such financial statements, there has been no Material Adverse Change in the
Financial Condition of SELLER.

            (16) except as otherwise disclosed by SELLER, there is no litigation
or other proceeding pending, or to the best of SELLER's knowledge, threatened
against SELLER that would affect SELLER'S ability to perform each and every of
its obligations under this Agreement or any Agreement or instrument related
hereto;

            (17) SELLER has or will deliver to Customer all products and
services required to be delivered and/or performed in accordance with the
Contract; and

            (18) to the best of SELLER's knowledge, no false, fraudulent or
misleading representations were made nor were unfair or deceptive trade
practices engaged in by SELLER with respect to the Customer or the Contract and
no statements, promises or representations about the payment terms under the
Contract, except as stated in writing in the Contract.

        (b) The representations and warranties contained herein shall be deemed
to be continuing representations, warranties and covenants of Seller and shall
continue beyond the term of this Agreement and until all obligations of Seller
hereunder have been performed and all payments have been made to MFS under all
Purchased Contracts. The sole remedy for breach of any of the above shall be
full recourse and repurchase of the contract.

            (1) In the event of any (a) transfer of control of Seller,
including, without limitation, any merger, consolidation or reorganization of
Seller with or into any person, firm or entity, where Seller is not the
surviving entity in such merger, consolidation or reorganization ( a "Change of
Control Event"), (b) sale, lease conveyance, exchange, transfer or other
disposition of all, or substantially all, the assets of Seller (an "Asset
Sale"), or (c) dissolution or liquidation of Seller, prior to such event Seller
shall (x) give Monterey written notice of the date of such event and, in the
event of a Change of Control Event or an Asset Sale, the identity of the
surviving or acquiring entity, and (y) purchase all outstanding amounts on the
Purchased contracts at the same rate as originally purchased by Monterey
hereunder; provided, however that in the event of a Change of Control Event or
an Asset Sale, Monterey shall be entitled to elect, in its sole and absolute
discretion, to have the surviving or acquiring corporation, as the case may be,
to continue to honor the Purchased Contracts and assume Seller's obligations
hereunder, including, without limitation, providing any ongoing services
described thereunder, subject to executing such documents as Monterey may
reasonable request.

        (c) MFS hereby represents, warrants and covenants to SELLER, its
successors and assigns, as of the date hereof and as of the date of submission
of each Contract/Credit Application, Final Contract/Credit Application and
Assignment in respect of each Contract, that:

            (1) If a corporation, partnership or limited liability company, MFS
is duly organized and validly existing and in good standing in the state or its
incorporation as such, and has full power to carry on its business as it is
presently conducted including, without limitation, the sale of the Contracts, to
enter into this Agreement and to carry out the transactions contemplated hereby;

            (2) the execution and delivery of this Agreement, the assignment of
the Purchased Contracts by SELLER, and the performance by MFS of the
transactions contemplated hereby have been duly authorized by all necessary
action, including any action required under MFS's governing instruments;

            (3) the execution, delivery and performance of this Agreement and
the assignment of the Purchased Contracts by SELLER, and the execution of any
other instrument related to this Agreement, constitute a legal, valid and
binding obligation of MFS enforceable in accordance with its terms, without any
offsets or counterclaims, and no further actions are required for MFS to enter
into this Agreement and such other instruments;

     5. SECURITY AGREEMENT IN COLLATERAL. To secure the accuracy and full
performance of each of SELLER's representations, warranties, covenants and
obligations hereunder, SELLER hereby grants to MFS a first priority security
interest (the "Security Interest") in all of SELLER's rights, titles and
interest in and to (i) all of the Purchased Contracts, (ii) all amounts held in
the Reserve Account, (iii) all of the Servicing Contracts, and (iv) all proceeds
of the foregoing. The Purchased Contracts, the Reserve Account, the Servicing
Contracts and all proceeds of the foregoing are sometimes hereinafter
collectively referred to as the "Collateral." SELLER shall execute and deliver
to MFS one or more original Uniform Commercial Code financing statements
describing the Collateral executed by SELLER in a form approved by MFS to be
filed in all offices where appropriate as may be necessary or advisable to

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perfect SELLER's security interest in the Collateral; provided, however, to
perfect MFS's security interest in the Reserve Account, MFS shall remain in
possession thereof. The transactions contemplated hereby are a full and absolute
sale of the Purchased Contracts, subject to the conditions herein, and except
for the Reserve Rebate, and no obligations and/or rights of SELLER hereunder
shall in any way be construed to imply or grant SELLER any direct or indirect
ownership interest and/or legal or equitable title in and/or to the purchased
contracts.

     6. RIGHT OF OFFSET. MFS has the right, with 30 day notice to SELLER, to
offset amounts owed by SELLER to MFS hereunder against amounts held by MFS in
the Reserve Account. Without limiting the generality of the foregoing, if SELLER
is obligated to repurchase a Purchased Contract for any reason and does not
provide MFS with cash or an acceptable replacement Contract within thirty (30)
days following notice by MFS to SELLER of the Customer's default, then MFS has
the right, without further notice to SELLER (i) to offset such amounts held by
MFS in the Reserve Account, (ii) the Reserve Rebate, (iii) the amount of any
Collected Funds otherwise payable to SELLER by MFS hereunder, and/or (iv) any
other amounts payable by MFS to SELLER. Nothing herein shall require MFS to
first seek or exhaust any remedy against the Customer, its successors and
assigns, or any other person obligated with respect to the Contract, or to first
foreclose, exhaust or otherwise proceed against any collateral or security which
may be given in connection with the Contract, if any.

     7. RIGHT TO INSPECT. MFS (through any of its officers, employees, or
agents) shall have the right from time to time hereafter at its sole cost and
expense to audit and inspect books and to check, test and appraise the
collateral in order to verify financial condition or the amount, quality, value,
condition of, or any other matter relating to collateral.

     8. INDEMNIFICATION. SELLER and MFS each hereby agree to defend, indemnify
and hold harmless each other, and the other party's affiliates, subsidiaries,
employees, officers, directors, shareholders, attorneys and agents, from and
against any and all losses, claims, liabilities, demands and expenses
whatsoever, including without limitation reasonable attorneys' fees and costs
arising out of or in connection with any breach by the indemnifying party of its
representations, warranties, covenants or obligations hereunder. Further, SELLER
hereby agrees to defend, indemnify and hold harmless MFS, and its affiliates,
subsidiaries, employees, officers, directors, shareholders, attorneys and
agents, from and against any and all losses, claims, liabilities, demands and
expenses whatsoever, in contract or tort, including without limitation
reasonable attorneys' fees and costs arising out of or in connection with any
breach by SELLER of it representations, warranties, covenants, or obligations
under this Agreement or any contract, or arising out of (i) the selection,
manufacture, purchase, acceptance or rejection by a Customer of any of the
products or services, as applicable, relating to any Purchased Contract, and the
delivery, possession, maintenance, use, condition, return or operation of any of
such products or services, as applicable, (including, without limitation, latent
and other defects in any product, whether or not discoverable by MFS or the
Customer), and (ii) any and all of the Servicing Contracts, unless caused by the
gross negligence or willful misconduct of MFS. SELLER shall, upon request,
immediately defend any and all actions based on, or arising out of, any of the
foregoing. All indemnities and obligations contained herein shall survive the
expiration or termination of the Agreement and the expiration or termination of
any Purchased Contract or any Servicing Contract.

     9. SERVICING OF CONTRACTS.

        (a) As part of the consideration for MFS entering into this Agreement
and agreeing to purchase Contracts from SELLER, SELLER agrees that during the
Term hereof, MFS shall have the option but not the obligation, in MFS's sole
discretion, to service, as SELLER's exclusive collection agent, all Servicing
Contracts entered into by SELLER and shall be entitled to retain the Servicing
Fee for its performance of such services. If MFS elects to administer and
service any Servicing Contracts, MFS shall perform the following duties with
respect to such Servicing Contracts to the best of its skill and ability: (i)
inform each Customer of the billing arrangements, send a welcome letter and a
monthly billing statement or coupon book to each Customer of a Servicing
Contract, proceed to collect all payments due thereunder by posting and
depositing all payments or like monies received on the Servicing Contracts
within forty-eight (48) hours of receipt; (ii) promptly return incomplete
checks, drafts or other items of payment received with respect to the Servicing
Contract to SELLER or as otherwise directed by SELLER; (iii) re-deposit checks,
drafts and other items of payment returned to MFS for reasons of "Return to
Maker" or "Non-sufficient funds" or words of similar effect according to MFS's
standard collection procedures; (iv) notify SELLER of any items of payment
received bearing a notation "payment in full," "interest only" or words to that
effect and follow SELLER's instructions with respect to such items; (v) hold all
post-dated checks, drafts or other items of payment and deposit them on the date
appearing on the check, draft or other item of payment; (vi) use its own funds,
tools, supplies and equipment in the performance of its services hereunder,
(vii) maintain books and records of all Servicing Contracts in accordance with
generally accepted accounting principles including, without limitation records
concerning principal, interest, late charges, and pre-payments received through
pre-authorized debits, checks, drafts or other items of payment and, upon
SELLER's written request, give access thereto to SELLER; (viii) provide SELLER
monthly with a full and complete accounting in respect of each and every
Servicing Contract, and weekly e-mail Aged Balance Reports from Finance and Loan

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Servicing; (ix) in the event a Customer becomes delinquent over fifteen (15)
days, mail written delinquent notice letters to such Customer; (x) service such
delinquent Servicing Contracts with as many telephone calls as MFS deems
necessary; (xi) notify SELLER of any Servicing Contract serviced hereunder which
is delinquent for a period in excess of ninety (90) days; (xii) remit to SELLER,
on a monthly basis, the Collected Funds less (A) the Servicing Fee, (B) the
amount of any funds which MFS is required to return to a Customer for any reason
including, without limitations, the Customer's bankruptcy or an erroneous
payment, and (C) any other amounts due to MFS which may be offset pursuant to
the terms of this Agreement, and (xiii) perform such other duties and furnish
such reports as are reasonable and customary for billing agents in California.

         (b) SELLER shall fully cooperate with MFS in MFS's performance of the
foregoing duties. Notwithstanding the generality of the foregoing, SELLER agrees
that it will submit to MFS in a timely manner, each of its Servicing Contracts
including the credit statement, the executed Contract, all supporting
documentation, the current balance and the date of the next payment in order to
enable MFS to arrange for the periodic servicing of such Servicing Contract.

         (c) MFS shall use the same degree of care in performing the services
for the Servicing Contracts that it uses in processing similar payments and data
for its own use. MFS shall be liable only for its negligence or willful
misconduct in the performance of its duties hereunder.

         (d) In the event any legal action or other proceeding is brought
relating to any of the Servicing Contracts, MFS will deliver to SELLER promptly
after SELLER's request therefor, such papers as MFS may have in its possession
that SELLER deems relevant to such action, and SELLER shall be obligated to
indemnify MFS pursuant to the terms of Section 8.

         (e) MFS may at any time, in its sole discretion, withdraw from
administering and servicing any or all Servicing Contracts.

         (f) SELLER acknowledges and agrees MFS's rights with respect to the
Service Contracts shall serve as additional collateral for the security
interest, and in accordance therewith, MFS shall be entitled to retain all
Service Contracts until such time as all amounts due MFS under all Purchased
Contracts have been paid in full.

     10. MFS'S RIGHTS TO DEAL WITH CONTRACTS. MFS shall have the right to deal
with all Contracts and Customers in the sole exercise of its business judgment,
and without limiting the generality of the foregoing, may do the following
without notice to or consent by SELLER, but only for its own account and without
effect on SELLER reserves or recourse: (a) amend any Contract or renew or extend
the time for payment or performance or grant any other indulgence to any
Customer; (b) make any settlements or compromises therewith; (c) demand
additional collateral or release any collateral securing such Contract; (d)
restructure, defer or otherwise alter payment terms of such Contract; and (e)
transfer or assign any of its rights or obligations in regard of any Contract
without the prior written consent of SELLER. MFS'S and SELLER's rights and
obligations hereunder shall remain unaffected by any such activities.

     11. COVENANTS OF SELLER. During the Term hereof, SELLER agrees to: (a)
cooperate with MFS in giving notice to the Customer of the assignment of the
Purchased Contract; (b) comply with all of SELLER's representations, warranties
and other statutory and contractual obligations to the Customer; (c) in the
event SELLER receives any payment on a Contract, SELLER shall promptly forward
such payment to MFS and SELLER hereby irrevocably appoints MFS its
attorney-in-fact to act in its name and stead in regard of the Contracts,
including without limitation, the right to endorse or sign SELLER's name on all
checks, collections, receipts or other documents with regard to the Contracts,
as MFS deems necessary or appropriate to protect MFS'S right, title and interest
in and to the Contract and any security intended to be afforded thereby, (e)
give MFS written notice of any Default hereunder or any claim which might
adversely affect the rights of MFS hereunder; (f) conduct its business in
accordance with sound business practices and standards and perform and fulfill
all obligations to Customers under Contracts and related marketing materials,
brochures and/or agreements delivered to Customers; (g) maintain all licenses
and authorizations required by all applicable regulatory authorities; (h)
secure, maintain and provide evidence of liability insurance in amounts as may
be required by MFS; and (i) promptly deliver to MFS such information concerning
the financial or other condition of SELLER as MFS may reasonably request.

     12. DEFAULT AND REMEDIES. Upon the occurrence of a Default by or with
respect to SELLER following thirty (30) days' notice from MFS to SELLER and a
SELLER's failure thereafter to cure, MFS may exercise any or all of the
following remedies in addition to any other remedies available to MFS under
applicable law: (a) declare all amounts payable hereunder to MFS to be
immediately due and payable (including the Servicing Fees and any amounts due
with respect to the repurchase of Purchased Contracts) and withdraw and offset
such amount from and against the Reserve Account,the Collected Funds and/or any
other amounts due to SELLER hereunder; (b) require the repurchase of any or all
of the Purchased Contracts; (c) terminate this Agreement; (d) substitute other

                                       7

<PAGE>

new Contracts delivered by SELLER for purchase for the defaulted Purchased
Contract, in like amount, automatically without the prior written consent of
SELLER, provided that MFS shall give SELLER written notice of such substitution;
or (e) exercise all remedies provided to a secured party by this Agreement
and/or by the Uniform Commercial Code in effect from time to time or any other
applicable law, including, without limitation, the right to take possession of
any collateral and to use such collateral in the operation of Seller's business
pursuant to the appointment of a receiver or trustee for Seller's business.

     13. FULL RECOURSE BY SELLER; GUARANTY OF SELLER'S OBLIGATIONS; ADDITIONAL
SECURITY. MFS may, at its option and in its sole discretion, condition its
execution of this Agreement upon SELLER providing to MFS certain additional
protections against losses including, without limitation, (i) a condition that
SELLER agree to provide full recourse to MFS for some or all Contracts purchased
hereunder, (ii) a condition that SELLER execute a security agreement pursuant to
which a security interest in certain collateral is granted to MFS to secure
SELLER'S obligations hereunder.

     14. MISCELLANEOUS.

         (a) MFS and SELLER acknowledge that they are separate entities, each of
which has entered into this Agreement for independent business reasons. There
shall be no restriction on MFS's or SELLER's independent business judgment,
including, but not limited to, decisions regarding selection of a Customer,
pricing, market decisions or credit decisions hereunder.

         (b) SELLER further acknowledges and agrees that an assignment, transfer
or sale to a third party of a controlling ownership and/or voting interest in
SELLER shall be deemed to be an assignment under this Agreement, which shall
require the consent of MFS. SELLER further acknowledges and agrees that MFS may
condition any consent to an assignment on both SELLER and the proposed assignee
continuing to be jointly and severally bound by all obligations of SELLER
hereunder. In addition, MFS may withhold its consent to such assignment, in its
sole and absolute discretion, in light of SELLER's unique ability to provide
services and/or products to its Customers who enter into Contracts purchased
hereunder.

         (c) The provisions of this Agreement and the representations, rights
and obligations of the parties hereto shall survive the execution and delivery
hereof, and except as they relate to entering into further Contracts, shall
survive the termination of this Agreement.

         (d) Any notice required to be given hereunder shall be delivered
personally, shall be sent by first class mail, postage prepaid, return receipt
requested, by overnight courier, or by facsimile, to the respective parties at
the addresses given in the preamble of this Agreement, which addresses may be
changed by the parties by notice conforming to the requirements of this
Agreement. Any such notice deposited in the mail shall be conclusively deemed
delivered to and received by the addressee four (4) days after deposit in the
mail, if all of the foregoing conditions of notice shall have been satisfied.
All facsimile communications shall be deemed delivered and received on the date
of the facsimile, if (1) the transmittal form showing a successful transmittal
is retained by the sender, and (b) the facsimile communication is followed by
mailing a copy thereof to the addressee of the facsimile in accordance with this
paragraph. Any communication sent by overnight courier shall be deemed delivered
on the earlier of proof of actual receipt or the first day upon which the
overnight courier will guarantee delivery.

         (e) The parties agree that this Agreement has been executed and
delivered in, and shall be construed in accordance with the internal laws of the
State of California as applied to contracts between California residents entered
into and to be performed wholly within California. SELLER hereby consents to the
jurisdiction of any local, state or federal court located within the County of
San Diego, State of California; provided, however, nothing contained herein
shall preclude MFS from commencing any action hereunder in any Court having
jurisdiction thereof.

         (f) If at any time any provision of this Agreement shall be held by any
court of competent jurisdiction to be illegal, void or unenforceable, such
provision shall be of no force and effect, but the illegality or
unenforceability of such provision shall have no effect upon and shall not
impair the enforceability of any other provision of this Agreement.

         (g) This Agreement together with all schedules and exhibits attached
hereto, constitutes the entire agreement between the parties concerning the
subject matter hereof and incorporates all representations made in connection
with negotiation of the same. All prior or contemporaneous agreements,
understandings, representation, warranties and statements, oral or written,
relating to the subject matter hereof are superseded and are null and void. The
terms hereof may not be terminated, amended, supplemented or modified orally,
but only by an instrument duly executed by each of the parties hereto. The
recitals set forth above are incorporated herein by this reference.

                                       8

<PAGE>

         (h) This Agreement and any amendments hereto shall be binding on and
inure to the benefit of the parties hereto and their respective permitted
successors and assigns.

         (i) In the event there is any conflict between this Agreement and any
ancillary agreements with respect to any Contract, the terms and conditions of
this Agreement shall control.

         (j) If either party commences legal proceedings for any relief against
the other party arising out this Agreement, the losing party shall pay the
prevailing parties legal costs and expenses, including without limitation,
reasonable attorney's fees.

         (k) This Agreement may be executed in one or more identical
counterparts, all of which shall together constitute one and the same instrument
when each party has signed one counterpart. To them as much extent permitted by
applicable law, this Agreement may be executed by facsimile, with original
signatures to immediately follow by overnight courier.

         (l) Additional terms of this Agreement, all of which are hereby
incorporated herein by this reference, are set forth in the following schedules,
addenda, exhibits or riders attached hereto:

     IN WITNESS WHEREOF, the parties have caused this Agreement to be executed
by their respective duly authorized representatives on the date first above
written.

SELLER:                                        MFS:
COLLEGE BOUND STUDENT ALLIANCE, INC.           MONTEREY FINANCIAL SERVICES, INC.
-------------------------------------          ---------------------------------
and its subsidiary COLLEGE PARTNERSHIP, INC.   a(n) California Corporation
--------------------------------------------   ---------------------------

By:                                            By:
   -------------------------------

Title:President                                Title:President
      ---------                                      ---------

                                       9

<PAGE>

                                  SCHEDULE "A"
                        TO RECEIVABLES PURCHASE AGREEMENT
                               DATED June 20, 2001
                                     -------------
                    BETWEEN MONTEREY FINANCIAL SERVICES, INC.
                                       AND
                      COLLEGE BOUND STUDENT ALLIANCE, INC.
                      ------------------------------------
                  and its subsidiary COLLEGE PARTNERSHIP, INC.
                  --------------------------------------------

                                    EXHIBIT A

                         FORM OF IRREVOCABLE ASSIGNMENT

FOR VALUE RECEIVED, the undersigned COLLEGE BOUND STUDENT ALLIANCE, INC. and its
subsidiary COLLEGE PARTNERSHIP, INC. , (the "Assignor") hereby sells, assigns
and transfers unto MONTEREY FINANCIAL SERVICES, INC., (MFS) a California
corporation ("Assignee"), its successors and assigns, all of Assignor's right,
title and interest in and to the contracts, promissory notes, security
agreements, membership agreements, instruments and accounts receivable (each, a
"Contract" and collectively, the "Contracts") described on the attached Annex A,
together with the property described therein, if any, and all rights and
remedies thereunder, including all guaranties thereof or collateral security
therefor, without recourse or warranty except as provided herein. Assignor
authorizes Assignee to collect any and all installments and payments due on each
Contract and to take action thereunder which Assignor might otherwise take with
respect to each Contract. This Assignment is being delivered pursuant to and
upon all of the representations, warranties, covenants and agreements on the
part of the undersigned Assignor contained in that certain Receivables Purchase
Agreement, dated as of June 20, 2001 (the "Agreement") between Assignor and
Assignee, which Agreement contains certain representations, warranties and
covenants from Assignor to Assignee, including, without limitation, certain
obligations on behalf of the Assignor to repurchase the Contracts or to replace
the Contracts upon the terms and conditions set forth therein. This Assignment
shall be governed by and interpreted in accordance with the terms of the
Agreement and the laws of the State of California. Capitalized terms used herein
which are not defined herein shall have the meanings set forth in the Agreement.

     Assignee may, without notice to Assignor, enter into any settlement,
forbearance or other variation in terms in connection with any Contract, or
discharge or release the obligations of the Obligor or other person, by
operation of law or otherwise, without affecting Assignor's liability hereunder,
or any other rights of Assignor including, but not limited to all rights of
Assignor under the agreement, and that any settlement, forbearance, or other
variation by Assignee or its assigns shall not cause Assignor's Repurchase Price
to be greater than it would have been in the absence of the settlement,
forbearance, or other variation. Assignee's failure or delay in enforcing any
right hereunder does not constitute a waiver of that right. Assignor shall not
make any collections or repossessions with respect to the Contracts.

     Assignor hereby certifies on and as of the date hereof (a) that each and
every representation and warranty of the undersigned contained in the Agreement
is true and correct on and as of the date hereof in all material respects with
the same force and effect as if originally expressed on and as of the date
hereof and (b) that each of the conditions set forth in the Agreement with
respect to the purchase of the Contracts hereunder has been fulfilled or waived
on the date hereof.

     Assignor does not delegate and Assignee shall not be required to assume any
of the duties, responsibilities, liabilities or obligations of Assignor under
any Contract assigned hereunder and Assignor shall remain liable therefor
notwithstanding the assignment contained herein.

     IN WITNESS WHEREOF, the undersigned has executed this Limited Recourse
Assignment to be duly executed this _______ day of ____________________, 2001.

                                    COLLEGE BOUND STUDENT ALLIANCE, INC.
                                    ------------------------------------
                                    and its subsidiary COLLEGE PARTNERSHIP, INC.
                                    --------------------------------------------

                                    By:

                                    Title:

                                       A-1

<PAGE>

                        FORM OF FULL RECOURSE ASSIGNMENT

     FOR VALUE RECEIVED, the undersigned COLLEGE BOUND STUDENT ALLIANCE, INC.
and its subsidiary COLLEGE PARTNERSHIP, INC. (the "Assignor") hereby sells,
assigns and transfers unto MONTEREY FINANCIAL SERVICES, INC., (MFS) a California
corporation ("Assignee"), its successors and assigns, all of Assignor's right,
title and interest in and to the contracts, promissory notes, security
agreements, membership agreements, instruments and accounts receivable (each, a
"Contract" and collectively, the "Contracts") described on the attached Annex A,
together with the property described therein, if any, and all rights and
remedies thereunder, including all guaranties thereof or collateral security
therefor, without recourse or warranty except as provided herein. Assignor
authorizes Assignee to collect any and all installments and payments due on each
Contract and to take action thereunder which Assignor might otherwise take with
respect to each Contract. This Assignment is being delivered pursuant to and
upon all of the representations, warranties, covenants and agreements on the
part of the undersigned Assignor contained in that certain Receivables Purchase
Agreement, dated as of June 20, 2001 (the "Agreement") between Assignor and
Assignee, which Agreement contains certain representations, warranties and
covenants from Assignor to Assignee, including, without limitation, certain
obligations on behalf of the Assignor to repurchase the Contracts or to replace
the Contracts upon the terms and conditions set forth therein. This Assignment
shall be governed by and interpreted in accordance with the terms of the
Agreement and the laws of the State of California. Capitalized terms used herein
which are not defined herein shall have the meanings set forth in the Agreement.

     In addition to the foregoing, Assignor agrees that if any installment on a
Contract becomes due and remains unpaid for more than sixty (60) days, or if a
Customer otherwise fails to perform in accordance with the Contract terms, or if
a Customer becomes insolvent or makes an assignment for the benefit of
creditors, or if a petition for a receiver or in bankruptcy is filed by or
against any Customer, then in any of such events, Assignor will, within thirty
(30) days after Assignor's written notice of the applicable Contract and demand
to Assignor, either (i) repurchase the Purchased Contract to which the default
or bankruptcy relates in lawful money of the United States of America for a
price equal to the Repurchase Price; or (ii) to replace the Purchased Contract
to which the default relates by assigning to Assignee an undivided interest in
and to a Contract owned by Assignor with a principal balance identical to the
Repurchase Price. In such event, Assignee agrees to reassign the Purchased
Contract to Assignor, AS IS, WHERE IS, WITHOUT RECOURSE OR WARRANTY OF ANY KIND
(except that Assignee shall represent and warrant that it owns the applicable
Purchased Contract and it has not transferred the applicable Purchased Contract
to a third party).

     Assignee may, without notice to Assignor, enter into any settlement,
forbearance or other variation in terms in connection with any Contract, or
discharge or release the obligations of the Obligor or other person, by
operation of law or otherwise, without affecting Assignor's liability hereunder,
except that any settlement, forbearance, or other variation by Assignee or its
assigns shall not cause Assignor's Repurchase Price to be greater than it would
have been in the absence of the settlement, forbearance, or other variation.
Assignee's failure or delay in enforcing any right hereunder does not constitute
a waiver of that right. Assignor shall not make any collections or repossessions
with respect to the Contracts.

     Assignor hereby certifies on and as of the date hereof (a) that each and
every representation and warranty of the undersigned contained in the Agreement
is true and correct on and as of the date hereof in all material respects with
the same force and effect as if originally expressed on and as of the date
hereof and (b) that each of the conditions set forth in the Agreement with
respect to the purchase of the Contracts hereunder has been fulfilled or waived
on the date hereof.

     Assignor does not delegate and Assignee shall not be required to assume any
of the duties, responsibilities, liabilities or obligations of Assignor under
any Contract assigned hereunder and Assignor shall remain liable therefor
notwithstanding the assignment contained herein.

                                      A-2

<PAGE>

     IN WITNESS WHEREOF, the undersigned has executed this Limited Recourse
Assignment to be duly executed this _______ day of _______________, 2001.

SELLER:                                       MFS:
COLLEGE BOUND STUDENT ALLIANCE, INC.          MONTEREY FINANCIAL SERVICES, INC.,
------------------------------------          ----------------------------------
and its subsidiary COLLEGE PARTNERSHIP, INC.  a California Corporation
--------------------------------------------  ------------------------

By:                                           By:
   -----------------------------------------
        President                                   Robert C. Steinke, President

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

                                      A-3

<PAGE>

                                  ADDENDUM "A"
                               dated June 20, 2001

                 TO RECEIVABLES PURCHASE AGREEMENT SCHEDULE "A"
                               dated June 20, 2001
                                     -------------

                   BETWEEN: MONTEREY FINANCIAL SERVICES, INC.,
                                       AND

                      COLLEGE BOUND STUDENT ALLIANCE, INC.
                      ------------------------------------
                  and its subsidiary COLLEGE PARTNERSHIP, INC.
                  --------------------------------------------
                                    * * * * *

COLLEGE BOUND STUDENT ALLIANCE, INC. and its subsidiary COLLEGE PARTNERSHIP,
INC. (Client), agrees upon the following:

     Client agrees to keep the finance portfolio and the billing portfolio at a
     minimum 1:1 dollar ratio which will go into effect after the first bulk
     purchase (which requires a 1:2 ratio, finance and billing) and continue
     until there is a zero balance in the finance portfolio.

                       * All other terms remain the same *

MONTEREY FINANCIAL SERVICES, INC.   COLLEGE BOUND STUDENT ALLIANCE, INC.
---------------------------------   ------------------------------------
a California Corporation            and its subsidiary COLLEGE PARTNERSHIP, INC.
------------------------            --------------------------------------------

Signed:                             Signed:
       --------------------------
        Robert C. Steinke                      Print:
        President
                                           Title:

Dated:                              Dated:
      ---------------------------

                                      A-4Exhibit 10.17

                           CONTRACT PURCHASE AGREEMENT
                       HIGHLANDS PREMIER ACCEPTANCE CORP.
                                       and
           College Bound Student Alliance, Inc., a Nevada Corporation
                                       and
                          The College Partnership, Inc.

     This CONTRACT PURCHASE AGREEMENT (the "Agreement") is made this
________________ by and between HIGHLANDS PREMIER ACCEPTANCE CORP, a Colorado
Corporation ("Highlands") and College Bound Student Alliance, Inc., a Nevada
Corporation and its subsidiary, The College Partnership, Inc. (collectively
"Client").

                                    RECITALS

     WHEREAS, Client is the owner of certain commercial paper (the "Contracts")
in which other parties to the Contracts (the "Obligors") have continuing
obligations of payments due to Client under the Contracts; and

     WHEREAS, the Contracts may consist of promissory notes, leases or other
negotiable instruments; and

     WHEREAS, Client wishes to sell and Highlands wishes to purchase all or some
of the Contracts of Client and in certain cases may use other Contracts not
purchased as collateral for the obligations of Client hereunder; and

     WHEREAS, Client has agreed to allow Highlands or its assignee to service
other contracts not sold to Highlands (the Serviced Contracts") and has agreed
to pledge all sums due under the Serviced Contracts and further pledge the
Serviced Contracts to secure the payment of all sums due under the Contracts
pursuant to a Servicing Agreement and UCC Security Agreement and Financing
Statement; and

     WHEREAS, the Contracts set forth that there are certain receivables due
from the Obligors to Client arising out of past, present and future services
performed or to be performed or goods sold or to be sold by Client ("Client
Duties") which Client Duties Highlands will not assume under the terms of this
Agreement.

     NOW THEREFORE IN CONSIDERATION OF THE COVENANTS HEREIN, THE PARTIES AGREE
AS FOLLOWS:

1. Option To Purchase; Documents. Client offers to Highlands for purchase the
Contracts which Client now or hereinafter tenders in accordance with the terms
of this Agreement. Highlands shall have the non-exclusive right, but not the
obligation, to purchase any or all of the Contracts offered by Client. For each
Contract offered to Highlands, Client shall provide the following:

a. The Contract and all amendments, attachments and exhibits;
b. A credit statement on the Obligor;
c. Any UCC Financing Statements and Security Agreements related to the
   Contracts;
d. Correspondence regarding each Contract including but not limited to demand
   letters;
e. Payment history for each Contract and/or Obligor (if applicable); and
f. Any other information relating to the Contract that Highlands may require
   or which Client would reasonably believe, or should reasonably believe,
   would be relevant to the purchase of the Contract.

2. Election Not To Purchase Contract. Highlands may elect, in its sole
discretion, not to purchase any Contract tendered by Client. Nothing herein
shall require client to offer any contract to Highlands. Such election to
purchase shall not affect the duties and obligations of Client hereunder with
respect to any other Contract previously or thereafter purchased by Highlands.

3. Secured Contracts. At Highlands' election, any contract offered to Highlands
by Client, but not purchased by Highlands (a "Secured Contract") shall be
serviced by Highlands in accordance with the fees and terms of its Servicing
Agreement and Highlands shall have a secured interest in such Contracts and the
proceeds thereof securing to Highlands the payment of all obligations of Client
under this Agreement. Client shall execute an additional Security Agreement,

<PAGE>

Uniform Commercial Code Form UCC-1 Financing Statement and such other
documentation as is necessary in Highlands' sole discretion. Nothing herein
shall require that Highlands service any contract of Client other than Secured
Contracts or any contract used to replace a Secured Contract or a replacement of
a Secured Contract or replacement of a Contract.

[X] Check here if there are Secured Contracts

4. Acceptance of Contracts. Highlands may accept or reject any Contracts in its
sole and absolute discretion but shall only accept a Contract, if at all if it
satisfies the requirements of Highlands and is on a form that is acceptable to
Highlands. If Highlands elects to purchase a Contract, Highlands shall give
notice to Client of its intention to purchase within five (5) business days of
receipt from Client of the documents set forth above as required by Highlands.
Notice of Highlands' election may be transmitted to Client by facsimile
transmission and shall be effective upon transmission or may be sent in
accordance with the Notice provisions of this Agreement. In the event that
Highlands does not accept a Contract within the aforesaid time, it shall be
deemed that Highlands elected not to purchase the Contract and shall use the
Contract as a Secured Contract if the above box is checked.

5. Duties Regarding Transfer. Client shall have the following duties or
obligations regarding transfer of the Contracts, in addition to any other duties
and obligations set forth in this Agreement:

a. Client shall notify Highlands of any payments received by Client between
   the time the Contracts are provided to Highlands and the time that
   Highlands remits payment to Client for purchase of the Contracts.
b. Client shall not modify or waive any duties of any Obligor under a
   Contract, including but not limited to the duty to make payments, between
   the time the Contracts are provided to Highlands and the time that
   Highlands remits payment to Client for purchase of the Contracts.
c. Client shall not collect or attempt to collect any payments due under any
   Contract following purchase of the Contract by Highlands;
d. If any payment is made by an Obligor after providing a copy of the Contract
   to Highlands which is not adjusted in the payment price for the Contract,
   Client shall remit to Highlands, within five business days of receipt of
   payment or payment by Highlands to Client of the purchase price (whichever
   is later), the full amount of the payment without set off or abatement.

6. Transfer Of Contract Rights. Upon Highland's notice of election to purchase a
Contract, all its right, title and interest in and to the receivables, but not
the Client duties under any Contract, shall be transferred and assigned to
Highlands in accordance with the terms of this Agreement. Client shall execute
such assignments, security agreements, financing statements or other
documentation as required by Highlands to effectuate the transfer or assignment
of each Contract. Such assignment shall in no event constitute a delegation of
the Client Duties to Highlands and Highlands shall have no responsibility or
obligation whatsoever to perform any of the Client Duties. Notwithstanding the
purchase of any Contract or the pledge of any Secured Contract, Client shall
remain liable for all Client Duties under any Contract and shall indemnify and
hold Highlands harmless from any liability arising therefrom. In the event that
Client receives any money or payment from an Obligor under a Contract subsequent
to its transfer or assignment to Highlands, Client shall immediately remit such
monies or payments to Highlands without offset or reduction.

7. Security Interests. To secure the payment and performance of all obligations
of Client to Highlands a security interest in the Contracts, payments under the
Contracts, after acquired property related to the contracts, proceeds of the
Contracts, substitutions of the same and this Agreement and the assets described
on Schedule "A." This Agreement shall also constitute a Security Agreement in
accordance with the Colorado UCC, C.R.S. 4-9-101 et.seq. Upon request by
Highlands, Client will execute and deliver a Uniform Commercial Code Form UCC-1
Financing Statement and such other documentation as is necessary to carry out
the intent of this Contract as Highlands requests from time to time. Any and all
collateral offered to Highlands as security hereunder shall not be subject to
any restrictions, oral or written, prohibiting the selling thereof and/or
granting of the security interest to Highlands provided for in this Agreement.

8. Notice To Obligors. At Highland's option, Client shall notify the Obligor of
the assignment or transfer. Thereafter, Client shall, when requested by
Highlands, assist in collecting payments or enforcing any rights due from or by
the Obligor.

<PAGE>

9. Purchase Price. The purchase price for each Contract shall be calculated as
set forth on Schedule "A" attached hereto and incorporated herein (the "Purchase
Price Schedule"). If Highlands decides to purchase a Contract, Highlands shall
pay Client the purchase price of each Contract purchased, less the reserve
and/or discount indicated on the Purchase Price Schedule, within five (5)
business days after receipt of all fully executed, original documents required
by Highlands to effect the transfer of the Contract to Highlands.

10. Reserve. Highlands will withhold 15% of the purchase price of each purchased
Contract as set forth in the Purchase Price Schedule to be held as a reserve for
defaulted Contracts purchased under this Agreement (the "Reserve") and the
following shall apply:

a.  Highlands may, in accordance withP. 18 below withdraw funds from the
    Reserve or otherwise offset by journal entry, without further notice to
    Client, to satisfy any payment or obligation of an Obligor of a contract;
b.  The total Reserve shall secure the performance of Client's obligations
    hereunder;
c.  Any interest accrued on the Reserve shall be retained by Highlands and
    Client shall have no claim, right title or interest in said interest;
d.  Highlands shall review the Reserve by the fifteenth of each month
    commencing on the fifteenth day of the month following the purchase of the
    initial contracts and continuing on the fifteenth day of each month
    thereafter. In the event that the amount held in Reserve is greater than
    15% of the aggregate remaining balance due under all Contracts, then
    Highlands shall refund to Client, within 10 days of completion of the
    review, an amount equal to the excess over 15% of the aggregate remaining
    balance due under all Contract.
e.  Upon payment of all sums due Highlands under all Contracts, Highlands shall
    return to Client the remaining sums in the Reserve exclusive of any
    interest earned thereon.

11. Servicing Of Contracts. Highlands shall have the right to direct that any
and all Contracts purchased by Highlands or Contracts pledged as security for
the payments and obligations of Client be serviced by any servicing agent of
Highlands choosing. Servicing shall include but not be limited to the exclusive
right, but not the obligation, to send statements to Obligors, receive payments
due under the Contract, disperse payments received, charge a servicing fee,
notify Obligors of a default, and enforce any right under the Contract on behalf
of Highlands or if a Secured Contract, on behalf of client or Highlands. Client
shall fully cooperate with the servicer designated by Highlands and with
Highlands, and shall execute any and all documents requested by Highlands or the
designated servicer to transfer, initiate or facilitate the servicing.

12. Client Representations And Warranties. Subject to the attached Exhibit A
disclosing exceptions to the representations herein, Client represents and
warrants to Highlands the following:

a.  All Contracts and collateral offered to Highlands are owned by Client free
    and clear of any and all interest or claims by third parties, including but
    not limited to, assignments, security interests, encumbrances, claims,
    liens and levies;

b.  Client is a Nevada Corporation duly organized, validly existing and fully
    qualified and authorized to do business in all jurisdictions where any
    contract Obligor is located;

c.  Client has taken all actions necessary to permit Client to enter into this
    Agreement and the transactions contemplated herein;

d.  This Agreement is a legal, valid and binding obligation of Client, and the
    execution and delivery of this Agreement will not violate any agreement or
    other instrument to which Client is a party;

e.  Client has and will timely file all required federal, state, county and
    municipal tax returns and filings, including but not limited to sales tax,
    use tax, and other taxes payable by Client and Client knows of no basis for
    any assessment or levy against Client with respect to any such taxes that
    may affect any Contract or Secured Contract;

f.  The Contracts and Client and its business operations are in compliance with
    all state, federal and local laws and regulations;

g.  There is not now pending, nor to the best of Client's knowledge, is there
    threatened any action, suit or proceeding at law or in equity or by or
    before any administrative agency which, if adversely determined, would
    impair or affect the operations of Client of the validity or enforceability
    of the Contracts or Secured Contract;

h.  Client has provided Highlands with all information that may adversely
    affect any Contract, be a basis for any claims against or concerning any
    Contract or Secured Contract, or adversely affect Highlands ability to
    collect any sums due under any Contract or Secured Contract; and

i.  All information provided to Highlands is true and accurate.

Client's representations and warranties are continuing, and shall be in full
force and effect so long as any Contract purchased hereunder has an unpaid
balance due.

<PAGE>

13. Other Obligations Of Client. During the term of this Agreement, the Client
agrees to:
a.  Upon written request from Highlands, provide Highlands with its current
    (within 30 days of preceding month) financial statements on a quarterly
    basis including but not limited to a balance sheet, a statement of profit
    and losses, and tax returns from the preceding year; and
b.  Any other evidence of Client's financial ability to meet its duties and
    obligations pursuant to any Contract or to meet its duties and obligations
    under this Agreement.

14. Default Under A Contract. Notwithstanding any language to the contrary in a
Contract and subject to P. 19 below, any of the foregoing shall constitute a
default of a Contract for purposes of this Agreement:
a.  A Contract or any provision of any Contract is declared or deemed legally
    void or voidable;
b.  Client accepts and/or offers fraudulent information from Obligor(s);
c.  An Obligor is more than 60 days contractually delinquent on any payment due
    under a Contract;
d.  Any other default under the terms and conditions of the contract.

15. Event Requiring Notification. Client shall notify Highlands, within ten
business days of Client becoming aware of any of the following by providing
Highlands copies of any related documents and describing any oral notification:
a.  An Obligor becomes incapacitated, disabled, dies or files bankruptcy;
b.  Obligor cancels or attempts to cancel their contract or raises defenses to
    enforcement for any reason whether or not such cancellation, defense or
    dispute has a legal basis;
c.  An action, suit, or administrative proceeding is brought or threatened
    regarding the Contract;
d.  Client fails to provide adequate services or goods to the Obligor resulting
    in the Obligor's refusal, or threatened refusal, to pay any sum due under a
    Contract.

16. Rights And Duties Upon Default Of Contract. Upon the occurrence of a default
in a Contract or as otherwise set forth above and subject toP. 19 below,
Highlands shall have the right to exercise the following in the following order:
a.  Make demand upon Client to replace any Contract then or previously in
    default, in which case Client shall, within 30 calendar days of demand
    replace the Contract in default with an equivalent, non-defaulted Contract
    acceptable to Highlands in its sole discretion; and if not so replaced,
    then,
b.  Withdraw funds from the Reserve or otherwise offset against the Reserve (if
    a Reserve has been established), without notice, an amount necessary to pay
    all outstanding principal balance(s) along with accrued unpaid interest,
    late charges and any other charges or fees due under any Contract of the
    contract up to the amount of the Reserve then existing; and if the reserve
    is insufficient to cure all monetary defaults and pay all costs permitted
    in this agreement, then
c.  Make demand upon Client for any and all amounts unpaid under any Contract
    in which case Client shall, within 30 calendar days of demand, submit
    payment to Highlands; if not so paid; then
d.  Make demand upon Client to repurchase any Contract then or previously in
    default, in which case Client shall, within 30 calendar days of demand
    repurchase the Contract for the amount as calculated on the Purchase Price
    Schedule; if not so repurchased, then
e.  Satisfy the obligations due under any Contract with payments made under the
    Secured Contracts being serviced by or on behalf of Highlands and/or Client
    and/or foreclose on any secured property, if applicable.

All rights shall be cumulative but must be exercised in the aforesaid order. The
exercise of one or more rights shall not be a waiver by Highlands to exercise
any other right provided so exercised in the aforesaid order.

17.  Default By Client. The occurrence of any of the following events shall
     constitute a default by the Client under this Agreement:
a.   Default on its obligations owed to any Obligor under any Contract;
b.   Beach of any representation, warranty, duty and/or covenants made in this
     agreement;
c.   Client files for bankruptcy protection, an assignment for benefit of
     creditors or other similar proceeding is initiated against Client, o Client
     is insolvent, has levies, liens, judgements and or claims filed against it
     by any governmental authority or court;
d.   Any breach by client of any of the duties, covenants, obligations terms or
     conditions of this Agreement.

18. Disputed Contracts. In the event that any Obligor under any Contract asserts
any claim or defense to enforcement of the debt or obligation under the Contract
owed to Highlands after the purchase of a Contract, Client shall use its best

<PAGE>

efforts to resolve, to the Obligor's satisfaction, any problem to which the
claim or defense relates. If any such claim or defense is maintained for more
than ten (10) days from the date Client receives notice of same, even if the
Contract is not then in default as defined above, Highlands shall be entitled to
any of the remedies set forth below.

19. Remedies On Default By Client. The remedies available to Highlands upon
default by Client shall be subject to the following:
a.  In the event that the aggregate principal balance due on all Serviced
    Contracts ("Serviced Contract Value") becomes less than Fifty percent (50%)
    of the aggregate principal balance due on all Contracts purchased Highlands
    shall have the right to exercise any remedy upon default by Client as set
    forth above. Notwithstanding this right, prior to exercising any remedy set
    forth herein, Highlands shall notify Client of the aforesaid. Client shall
    then have ten business days from the date of forwarding the notice to
    provide "Substitute Contracts" acceptable to Highlands in its sole
    discretion so that the Serviced Contract Value, based on current contracts,
    is equal to or greater than Fifty percent (50%) of the Contract Value,
    based on current contracts, as of the date of notice.
b.  In the event a Substitute Contract is provided to and acceptable by
    Highlands as a new Contract or as a Service Contract, as the case may be,
    and provided the Serviced Contract Value, based on current contracts, is
    equal to or greater than the ratios set forth in P. 19a above, based on
    current contracts, as of the date of notice, the Contract for which the
    Substitute Contract is provided shall be returned to and reassigned to
    Client upon client's request.
c.  In the event a Substitute Contract is not provided to and/or not acceptable
    by Highlands as a new Contract or as Serviced Contracts, as the case may
    be, within ten days of forwarding the aforesaid notice, Highlands shall
    have the remedies and in the order as set forth in P. 16, above.

20. Joint and Several Obligation. In the event that more than one party is
executing this Agreement, both parties shall be jointly and severally liable to
perform all duties, obligations and responsibilities set forth herein. Where any
obligations by their nature are such that one party is the primary party
responsible for such duty, obligation, or responsibility, the other party shall
nevertheless by jointly and severally responsible to perform such duty,
obligation, or responsibility and shall be jointly and severally responsible for
any damages to Highlands arising therefrom.

21. Indemnification. Client shall defend, indemnify, save and hold Highlands,
its successors or assigns, harmless from and against any and all liabilities and
claims of any nature relating to or arising out of a claim of an Obligor under a
Contract or a claim of any third party arising directly or indirectly from an
obligation or duty of Client under or associated with a Contract or arising
directly or indirectly from any acts of Client, whether founded in tort,
contract, or otherwise including but not limited to reasonable attorney's fees
and costs incurred by Highlands arising therefrom.

22. Assignment. Highlands may sell, transfer, encumber or assign this Agreement
and/or any Contract purchased by Highlands hereunder without Client's consent
and without prior notice. Client may not assign this Agreement or any of its
rights or obligations hereunder without the prior written consent of Highlands,
which consent may be withheld by Highlands for any reason in Highlands' sole
discretion. Any such assignment or attempt to assign, without Highlands' written
consent which consent may be withheld by Highlands in its sole discretion, shall
be null and void.

23. Limited Power Of Attorney. If Highlands receives a check, bank draft, money
order or other negotiable instrument payable to Client with respect to a
Contract, Client nominates, constitutes and appoints Highlands as its true and
lawful attorney-in-fact, with full right, title and authority to endorse and
negotiate such instrument in Client's name, place and stead, and shall otherwise
cooperate with respect to such endorsement and negotiation.

24. Survival. Upon the repurchase of any Contract by Client or the election not
to purchase any future Contract, the representations, obligations and duties of
Client or the payment in full of any Contract that normally survive shall
remaining continuing representations, duties and obligations of Client (by
example and not by way of limitation the duty to indemnify Highlands in the
event of any claim by Obligor).

25. Entire Agreement. This Agreement constitutes the entire Agreement between
the parties with respect to the subject matter herein. All prior contemporaneous
agreements, understandings, representations, warranties and statements, oral or
written, relating to the subject matter hereof are superseded. No modification
to or amendment to this Agreement shall be binding unless in writing and
executed by both parties.

<PAGE>

26. Governing Law; Venue. This Agreement shall be construed and interpreted in
accordance with the laws of the State of Colorado. Venue in any action brought
with respect to any provision of this Agreement shall be in Jefferson or Denver
County, Colorado and Client specifically consents to the jurisdictions of any
state or federal court sitting in either of the aforementioned counties.

27. Attorney's Fees. In the event of any dispute under this Agreement, the
prevailing party shall be entitled to an award of attorney's fees and costs and
in the event of an default in this agreement, the defaulting party shall pay the
non-defaulting party its attorney's fees and costs, whether or not suit is
actually filed.

28. Waiver Of Jury Trial. In the event of litigation between the parties, both
parties waive their right to a jury trial.

29. Miscellaneous.

a.  Each party agrees that the covenants and promises contained herein are good
    and sufficient consideration for the respective obligations required
    hereunder.
b.  Should any term or condition hereof be deemed void or unenforceable, the
    remaining provisions of this Contract shall remain in full force and
    effect.
c.  The parties have independently, separately and freely negotiated each and
    every provision of this Contract as if all parties drafted this Contract.
    The parties, therefore, waive any statutory or common law presumption that
    would serve to have this document construed in favor of; or against, either
    party.
d.  This Contract may be executed in any number of counterparts, including
    original or facsimile counterparts, all of which when taken together shall
    constitute the entire Contract of the parties.
e.  The failure of Highlands to immediately exercise any right herein shall not
    constitute a waiver of the right to do so later or constitute a waiver to
    exercise any other rights immediately or later. The waiver of any one right
    or condition precedent of Highlands shall not be a waiver of any other
    right or condition precedent by Highlands.
f.  All notices required herein shall be in writing and deemed delivered (i)
    upon personal delivery to the parties hereto, or (ii) one business day
    after being sent overnight mail, postage prepaid, or (iii) when sent by
    telecopy with transmission verification, or (iv) three days after being
    mailed to the parties hereto by United States Mail, return receipt
    requested, postage prepaid, addressed as set forth below, unless written
    notice of change of address is hereafter given by the parties as provided
    herein.
g.  This Agreement is binding on the successors and assigns of both parties
    (except that any assignment by Client not approved in writing by Highlands,
    shall be void as set forth above).
h.  Nothing herein shall be deemed to constitute or create a partnership or
    joint venture between Highlands and Client.
i.  Whenever in this Agreement the context so requires, the singular shall
    include the plural and the plural the singular.

<PAGE>

CLIENT:  COLLEGE BOUND STUDENT ALLIANCE, INC.,     THE COLLEGE PARTNERSHIP, INC.
                   a Nevada Corporation

BY:  __________________________  ____              BY:____________________ ____
         (signature required)    Date                 (signature required) Date

Name: _______________________________              Name:_______________________
Title:  _____________________________              Title:______________________
Address:  ___________________________              Address:____________________
STATE OF: _____________________
COUNTY OF: ____________________

On this _________ day of ____________, in the year 20____, before me, the
undersigned a Notary Public in and for the State of __________________,
personally appeared ______________________________ on behalf of COLLEGE BOUND
STUDENT ALLIANCE, INC., and THE COLLEGE PARTNERSHIP, INC., personally known to
me (or proven to me on the basis of satisfactory evidence) to be the person
whose name is subscribed to the within instrument and acknowledged to me that he
executed the same in his/her signature on the instrument the person, or entity
upon behalf of which person acted, executed the Instrument,

WITNESS my hand and official seal,          ______________________________
                                            Notary Public

HIGHLANDS PREMIER ACCEPTANCE CORP.
A Colorado Corporation
Wells Fargo Bank Building
10288 W. Chatfield Ave, Suite 209
Littleton, CO 80127

By: ________________________________    ______
         (signature required)            Date
Name:  _____________________________
Title:   ___________________________

STATE OF: __________________________
COUNTY OF: _________________________

On this ____________ day of ____________, in the year 20___, before me, the
undersigned a Notary Public in and for the State of _______________, personally
appeared ___________________________________, personally known to me (or proven
to be on the basis of satisfactory evidence) to be the person whose name is
subscribed to the within instrument and acknowledged to me that he executed the
same in his/her signature on the instrument the person, or entity upon behalf of
which person acted, executed the Instrument.

WITNESS my hand and official seal,          ______________________________
                                            Notary Public

<PAGE>

                             PURCHASE PRICE SCHEDULE
                       HIGHLANDS PREMIER ACCEPTANCE CORP.
                                       and
           COLLEGE BOUND STUDENT ALLIANCE, INC., A NEVADA CORPORATION
                And its Subsidiary The College Partnership, Inc.

         To Contract Purchase Agreement dated _________________________
         Client: College Bound Student Alliance, Inc., a Nevada Corporation
                 And its subsidiary, College Partnership, Inc

The Purchase Price for Contracts purchased under the Purchase Agreement shall be
calculated as follows:

         77.50% of the unpaid outstanding principal balance due under a contract
         for all Contracts that have made three consecutive payments and are
         less than fifteen days contractually delinquent meeting the
         underwriting guidelines of HIGHLANDS PREMIER ACCEPTANCE CORP.

         A Reserve will be established in an amount equal to 15.00% of the
         outstanding unpaid principal balance for each Contract purchased

The above purchase price is calculated based upon a minimum interest rate of
15.00% and a payment term not to exceed 12 months. Contracts with terms
exceeding 12 months will not be purchased.

By way of example and not limitation, if a contract has a current balance
(including principal, accrued interest and late charges) of $1,000, the purchase
price shall reflect a 7.5% purchase discount ($75) and a reserve of 15% ($150)
resulting in a payment to Client of $775 upon purchase.

The Repurchase Price for any Contracts repurchased by Client as required by
Paragraph 15d of the Contract Purchase Agreement shall be calculated as follows:

                        The outstanding principal balance
             along with accrued and unpaid interest and late charges
                   under any contract eligible for repurchase.

Client:  College Bound Student Alliance, Inc.,    The College Partnership, Inc.
         a Nevada Corporation

BY:__________________________                     BY:________________________

ITS:_________________________                     ITS:_______________________

DATE:__________________                           DATE:_________________

<PAGE>

                               SECURITY AGREEMENT
                       HIGHLANDS PREMIER ACCEPTANCE CORP.
                                       and
 COLLEGE BOUND STUDENT ALLIANCE, INC., a NEVADA CORPORATION AND ITS SUBSIDIARY
                         THE COLLEGE PARTNERSHIP, INC.

     THIS SECURITY AGREEMENT is made as of this ____________________ by and
between COLLEGE BOUND STUDENT ALLIANCE, INC., a NEVADA CORPORATION and its
subsidiary THE COLLEGE PARTNERSHIP, INC. whose address is 333 S. Allison
Parkway, Suite 100, Lakewood, CO 80226 (collectively "Client") and HIGHLANDS
PREMIER ACCEPTANCE CORP. whose address is Wells Fargo Bank Building, 10288 W.
Chatfield Ave, Suite 209, Littleton, CO 80127 ("Highlands").

     In consideration of the matters set forth in the in this Security
Agreement, the parties hereto agree as follows:

1. Obligation. The Client has executed and delivered to Highlands a Contract
Purchase Agreement (the "Agreement") of even date herewith, payable to the order
of Highlands.

2. Collateral. Client grants Highlands a security interest in the property
described on Exhibit A (which may include, and if so will not be limited to, the
"Secured Contracts" as referenced in the Agreement and incorporated herein by
reference, and intangible collateral including but not limited to accounts and
chattel paper, documents instruments, general and payment intangibles, deposit
accounts, promissory notes, and securities) together with all similar property
now owned or hereafter acquired, additions, substitutions, replacements,
proceeds and products thereof, wherever located. All items in which a security
interest is granted hereby are referred to as the "Collateral".

3. Purchased Contracts. Notwithstanding anything in this agreement to the
contrary, all Contracts, as defined in the Agreement, purchased by Highlands
shall be the sole and exclusive property of Highlands and Highlands shall not be
subject to the obligations of secured creditors in relation thereto unless and
until Client repurchases the Contracts purchased by Highlands, in which case the
Purchased Contract shall become a Secured Contract.

4. Obligations Secured. The security interest granted hereby is to secure
payment of the following (the "Obligations"):
a. The amounts due under the Agreement, together with interest, fees and other
charges provided for therein.
b. All sums which Highlands may, at its option, expend or advance for the
maintenance, preservation and protection of the Collateral, including without
limitation, servicing costs, payment of taxes, levies assessments, insurance
premiums and discharge of liens, together with interest thereon, or in any other
property given as security for payment of the Indebtedness.
c. All expenses, including reasonable attorneys' fees, which Highlands incurs in
connection with collection of any or all indebtedness under the Agreement or any
indebtedness pursuant to any Collateral, the enforcement or protection of its
rights hereunder or any other instrument given as security for the Agreement, or
in changes in form of such obligations under the Agreement which may be made
from time to time by agreement between Client and Highlands, together with
interest thereon.
d. All other present or future, direct or indirect, absolute or contingent,
liabilities, obligations, and indebtedness of Client to Highlands, however
created, and including all or part of any renewal, modification, concession or
extension whether or not the Client executes documents to such effect.

5. Warranties, Covenants and Waivers of Client. Client warrants, covenants,
waivers and/or agrees that:
a. Client is and will continue to be the owner of the Secured Contracts, if any
are pledged as collateral herein, as defined in the Agreement free from any
lien, security interest or encumbrance, other than that created by this Security
Agreement.
b. Client will defend the Collateral against all claims and demands of all other
persons at any time claiming the same or any interest therein.
c. Client will not sell the Collateral without the prior written consent of
Highlands.
d. No effective financing statement covering any of the Collateral or any
proceeds thereof is on file in any public office, nor will Client (except as
provided herein) execute any financing statement affecting the Collateral during
the term of this Security Agreement without the prior written consent of
Highlands.

<PAGE>

e. Client will pay the any amounts due under the Agreement to Highlands as the
same becomes due and payable.
f. Client will from time to time as required by Highlands join with Highlands in
executing any additional documents and one or more financing statements pursuant
to the Uniform Commercial Code of Colorado (and any assignments, extensions or
modifications thereof) in a form satisfactory to Highlands.
g. Client will pay as they become due all taxes or other liens or claims which
may become a charge against the Collateral.
h. Client will adequately maintain insurance as set forth in the Agreement with
companies and in amounts acceptable to Highlands. All insurance policies shall
be written for the benefit of Client and Highlands as their interests may
appear, and Highlands shall be named as a loss payee on an endorsement to all
insurance policies. All policies, endorsements and certificates evidencing the
same shall be furnished to Highlands. All insurance policies shall provide for
at least 10 days' prior written notice of cancellation to Highlands.
i. The execution and delivery of this Security Agreement will not violate any
law or agreement governing the Client or to which the Client is a party.
j. All information and statements furnished in connection with the Agreement,
this Security Agreement, and any other documents related to this secured
obligation are true and correct, and contain no false or misleading statements.
k. Client will promptly notify Highlands of any attachment or other legal
process levied against any part of the Collateral and any information received
by Client relative to the Collateral which may in any way affect the collateral
or the rights and remedies of Highlands with respect thereto.
l. Highlands' rights hereunder shall continue unimpaired and Client shall remain
obligated pursuant to the Agreement in the event of release or substation of any
collateral, the exercise of any remedy by Highlands or the delay, extension of
time, renewal, or compromise of any obligation pursuant to any collateral.
m. Client waives all notice of any delay, extension of time, renewal, or
compromise of any obligation pursuant to any collateral.
n. Client waives any right to require Highlands to proceed against any person,
proceed against or exhaust any collateral or other security, exercise any right
in any particular order or pursue any other remedy in Highlands power.

6. Highland's Right to Discharge. At its option, Highlands may discharge taxes,
liens, assessments, security interest or other encumbrances at any time levied
or placed on the Collateral, may pay for premiums for insurance as required
above, and any other charges or expenses or perform any obligation imposed upon
Client hereunder.

7. Possession of Collateral. Upon default under the Agreement or this Security
Agreement, Highlands shall have the immediate right to possession and use of the
Collateral in its name whether physical custody of the Collateral is held be a
servicing agent, any third party, Client or by Highlands.

8. Events of Default. Any one of the following shall constitute a default for
purposes of this Security Agreement.
a. Client fails to promptly pay when due all taxes and assessments upon the
Collateral or fails to keep the Collateral in good condition and repair and
fully insured (if applicable).
b. Client fails to comply with any obligation under the Agreement secured hereby
when due.
c. Client uses or enters into any contract in violation of law or breaches any
terms, condition, representation, or covenant to be performed or observed by
Client under any Collateral or the Agreement.
d. Any warranty, representation or statement made or furnished to Highlands by
or on behalf of Client in connection with the Security Agreement, a Contract, a
Secured Contract, if any or the Agreement was or is false in any respect.
e. If the Collateral, or any part thereof, is levied upon or seized under any
levy or attachment or any other legal process.
f. The insolvency (however evidenced and including a petition in bankruptcy) or
the commission of any act of insolvency, by Client, or the making of an
assignment to or for the benefit of creditors of Client, or the appointment of a
receiver, liquidator, conservator, or trustee of Client, to its property.
g. Any material adverse change in the financial condition, assets, or management
of the Client or any material adverse change in the Client's ability to carry on
its business as presently conducted or to meet its obligations under the
Agreement, on a timely basis.
h. A good faith belief by Highlands that the obligations of Client under the
Agreement are inadequately secured or that the prospect of payment of
performance under the Agreement, this Security Agreement or any of the
obligations thereby is impaired.
i. Any breach by Client of the duties, obligations, terms, and conditions of the
Agreement or any related documents including but not limited to the following.

<PAGE>

     1)   A Contract or any provision of any Contract is declared or deemed
          legally void or voidable;
     2)   Client accepts and/or offers fraudulent information from Obligor(s);
     3)   An Obligor is more than 60 days contractually delinquent on any
          payment due under a Contract;
     4)   Any other default under the terms and conditions of the contract.

9. Remedies of Highlands in Event of Default. Client agrees that upon the
occurrence of any default set forth above, Highlands shall have the following
remedies which are cumulative and may be exercised in the order provided herein:

a. Those rights and remedies set forth in the Agreement including but not
limited to:
     1)   Make demand upon Client to replace any Contract then or previously in
          default, in which case Client shall, within 30 calendar days of demand
          replace the Contract in default with an equivalent, non-defaulted
          Contract acceptable to Highlands in its sole discretion; and if not so
          replaced; then,
     2)   Withdraw funds from the Reserve or otherwise offset against the
          Reserve (if a Reserve has been established), without notice, an amount
          necessary to pay all outstanding principal balance(s) along with
          accrued unpaid interest, late charges and any other charges or fees
          due under any Contract of the contract up to the amount of the Reserve
          then existing; and if the reserve is insufficient to cure all monetary
          defaults and pay all costs permitted in this agreement; then
     3)   Make demand upon Client for any and all amounts unpaid under any
          Contract in which case Client shall, within 30 calendar days of
          demand, submit payment to Highlands; if not so paid; then
     4)   Make demand upon Client to repurchase any Contract then or previously
          in default, in which case Client shall, within 30 calendar days of
          demand repurchase the Contract for the amount as calculated on the
          Purchase Price Schedule; if not so repurchased; then
     5)   Satisfy the obligations due under any Contract with payments made
          under the Secured Contracts being serviced by or on behalf of
          Highlands and/or Client and/or foreclose on any secured property, if
          applicable.

     All rights shall be cumulative but must be exercised in the aforesaid
     order. The exercise of one or more rights shall not be a waiver by
     Highlands to exercise any other right provided so exercised in the
     aforesaid order.

b. Collect on, sue for, and receive all contract payments of Secured Contract
pledged or later pledged as collateral in this Security Agreement.
c. Notify obligors under the Secured Contracts pledged or later pledged as
Collateral in this Security Agreement that their, if any, with Client has been
assigned to Highlands or that Highlands has a security interest in their
contract and that all future payments due under their contract should be paid to
Highlands.
d. Settle and/or compromise any debt due under any Secured Contract, if any.
e. Receive, take, endorse, assign and deliver all checks, drafts, orders,
payments or negotiable and non-negotiable instruments payable to Client pursuant
to any collateral.
f. If the proceeds from the sale of the collateral are not sufficient to satisfy
the obligations of Client, proceed against Client for any deficiency.
g. Any rights and remedies of a secured party under the Uniform Commercial Code
including without limitation, the right to take possession of the Collateral.
Any sale of the Collateral may be conducted in the Highland's sole discretion,
may be a public or private sale, and the conduct of such sale is agreed to be
commercially reasonable.

10. Ratification and Confirmation. If requested by Highlands, Client shall
ratify and confirm any sale, payment, dispositions or other action set forth
herein by executing and delivering such documentation as is consistent with the
terms herein and in order to effectuate the intent of this Security Agreement.

11. Application of Proceeds. The proceeds of any sale or other disposition of
the collateral shall be applied in the following order:
a. The repayment of the reasonable out-of pocket costs and expenses of retaking,
holding and preparing for the sale and the selling of the collateral, including
but not limited to legal expenses and attorneys' fees.
b. Collection costs associated with the collection on any Secured Contract.
c. The discharge of all assessments, encumbrances, chares or liens, if any, on
the collateral prior to the lien hereof (except any taxes, assessments,
encumbrances, charges or liens subject to which such sale shall have been made).
d. Payment of the whole amount then due and unpaid under the Agreement.
e. The surplus if any, shall then be paid to Client or to whoever may be
lawfully entitled to receive the same, or as a court of competent jurisdiction
may direct.

<PAGE>

12. Notification. Reasonable notification of the time and place of any sale
shall be satisfied by mailing to the Client at the address shown at the
beginning of this Agreement, or at least five days' prior notice of the time and
place of any public sale or the time after which any private sale or any other
intended disposition is to be made. Any other notice, or other instrument which
may be required or permitted to be given or served upon the Client or Highlands
shall be in writing addressed to the Client or Highlands, as the case may be, at
its address shown above, or to such different address as shall have been
designated by written notice to the other party hereunder. Notices shall be
effective as set forth in the Agreement.

13. Governing Law. The laws of the State of Colorado shall govern this Security
Agreement.

14. Waiver by Highlands. Any and all covenants in this Security Agreement may
from time to time, by instrument in writing signed by Highlands, be waived to
such extent and in such manner as Highlands may desire, but no such waiver shall
ever affect or impair Highland's rights or liens hereunder, except to the extent
specifically stated in such written instrument.

15. Successors and Assigns. This Security Agreement is binding upon Client,
Client's successors and assigns, and shall inure to the benefit of Highlands,
its successors and assigns.

16. Special Filing as Financing Statement. This Security Agreement shall be a
Security Agreement and a Financing Statement.

COLLEGE BOUND STUDENT ALLIANCE, INC.        HIGHLANDS PREMIER ACCEPTANCE

----------------------------------          --------------------------------
By:                                         By:

THE COLLEGE PARTNERSHIP, INC.

----------------------------------
By:

<PAGE>

                                    EXHIBIT A

                         Collateral Pledged as Security
                                   For the UCC
                               SECURITY AGREEMENT

The following property shall be subject to a security interest in favor of
Highlands:

1.   The Secured Contracts set forth in the attached addendum.
2.   Intangible collateral including but not limited to accounts and chattel
     paper, documents, instruments, general and payment intangibles, deposit
     accounts, promissory notes, and securities
3.   After acquired property, additions, substitutions, replacements, proceeds
     and products thereof
4.   Payments and chooses in action due under or associated with each Secured
     Contract
5.   Any other collateral referenced in the body of the Security Agreement

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                               SERVICING AGREEMENT
                       HIGHLANDS PREMIER ACCEPTANCE CORP.
                                       and
      COLLEGE BOUND STUDENT ALLIANCE, INC., AND ITS SUBSIDIARY, THE COLLEGE
         PARTNERSHIP, INC., (collectively "CBSA"), A NEVADA CORPORATION

     THIS AGREEMENT is entered into and/or effective this
_____________________________by and between HIGHLANDS PREMIER ACCEPTANCE CORP, a
Colorado Corporation ("Highlands") and COLLEGE BOUND STUDENT ALLIANCE, INC., AND
ITS SUBSIDIARY, THE COLLEGE PARTNERSHIP, INC., (collectively "CBSA"), A NEVADA
CORPORATION ("Client");

                                    RECITALS

          WHEREAS, the Client is, in part, in the business of servicing accounts
receivable financing documents, money notes, and other like documents; and

          WHEREAS, the parties have agreed that Highlands shall service the
contracts listed on "Exhibit A" as may be amended, from time to time, by mutual
consent of Highlands and Client; and

     NOW THEREFORE IN CONSIDERATION OF THE COVENANTS HEREIN, THE PARTIES AGREE
AS FOLLOWS:

1.   Definitions. the following terms shall have the meaning hereinafter set
forth:

     a)   "Contract Assignment and Sales Agreement" shall mean the agreement
          between Highlands and Client wherein Highlands and Client agreed that
          Highlands would service certain contracts or negotiable instruments on
          behalf of Client;

     b)   "Contract Obligor" shall mean the person(s) or entity (ies) obligated
          to make payments under any Serviced Contracts.

     c)   "Delinquent Contract" shall mean any Serviced Contract under which
          monies are owed to the Client with respect to the sale of goods or
          services for a period in excess of thirty days.

     d)   "Dues" shall mean any monies paid to the Client by a member on a
          monthly, quarterly, semi-annual or annual basis in order to retain
          membership privileges.

     e)   "Serviced Contract" shall mean any contract for which payments are
              being collected, monitored or otherwise serviced by Highlands.

2.   Servicing. Client irrevocably retains and appoints Highlands to service the
     Serviced Contracts, including but not limited to those set forth in Exhibit
     A, including the periodic billing and collection of all amounts due under
     the Serviced Contracts (including but not limited to principal, interest,
     dues, late fees and attorney's fees), the collection of monies due under
     Delinquent Contracts or other Serviced Contracts and the payment to
     Highlands under this Agreement from the payments made under the Serviced
     Contracts.

3.   Assignment. Highlands may assign its servicing duties hereunder to a third
     party of its choosing. Upon assignment, Highlands shall have no liability
     to Client for the acts of the assignee.

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4.   Limitation of Warranty. EXCEPT AS PROVIDED HEREIN, THERE ARE NO EXPRESS OR
     IMPLIED WARRANTIES MADE BY HIGHLANDS TO CLIENT. UNDER NO CIRCUMSTANCES WILL
     HIGHLANDS BE LIABLE TO CLIENT FOR ANY CONSEQUENTIAL, INDIRECT, SPECIAL OR
     INCIDENTAL DAMAGES OR LOSSES, WHETHER FORESEEABLE OR UNFORESEEABLE, BASED
     ON THE SERVICING OF SOLD CONTRACTS (INCLUDING CLAIMS FOR LOSS OF GOODWILL,
     PROFITS, USE OF MONEY OR OTHER IMPAIRMENT OF ASSETS) ARISING OUT OF BREACH
     OR FAILURE OF WARRANTY IN THE SERVICING OF SOLD CONTRACTS WHETHER BASED ON
     BREACH OF CONTRACT, MISREPRESENTATION, NEGLIGENCE, OR OTHERWISE. IN NO
     EVENT WILL HIGHLANDS' AGGREGATE LIABILITY FOR BRACH OF ANY WARRANTY OR
     CONTRACT OBLIGATION EXCEED THE FEE THAT CLIENT ACTUALLY PAID, OR WAS
     REQUIRED TO PAY FOR SERVICING UNDER THE TERMS OF THIS AGREEMENT.

5.   Term. This Agreement shall remain in effect for a period of twelve (12)
     months and shall be renewed in twelve (12) month intervals unless cancelled
     in writing by either party. Cancellation must be given in writing with
     ninety (90) days notice to terminate.

6.   Fees Payable To Highlands. See Exhibit B

7.   Duties of Client. Throughout the term at this agreement Client shall:

     a)   Maintain records of Serviced Contracts regarding accounts receivable,
          periodic billing, or collection in accordance with generally accepted
          accounting principles and upon the written request of Highlands,
          provide Highlands with access thereto and an accounting in respect
          thereof.

     b)   Within five business days of receipt, notify Highlands of any payment
          received by Client.

     c)   Pay Highlands the fees due hereunder, as set forth in Highlands'
          monthly invoice, within ten (10) days of forwarding the invoice (all
          invoices shall deduct any sums withheld by Highlands from amounts
          collected under the Serviced Contract).

     d)   Pay Highlands a late charge of five percent (5%) of the billing amount
          not paid for the fees set forth herein within ten (10) days of
          forwarding the invoice.

     e)   Not transfer the servicing of the Serviced Contracts during the term
          of this agreement without the express written consent of Highlands.

     f)   Forward to Highlands all notices, correspondence, payment information
          or other documentation received by or sent to Client regarding any
          Serviced Contract within five business days of receipt or forwarding.

     g)   Comply with any expressed or implied duty otherwise set forth in this
          Agreement.

8.   Limitation of Client Rights. Client shall have NO right to: --

a)   Modify or waive any duties of any Contract Obligor including but not
     limited to the duty to make payments under any Serviced Contract directly
     to Highlands.

b)   During the term of this Agreement, collect on or service any contract
     assigned to Highlands for servicing.

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9.   Authority granted to Highlands. Client irrevocably grants to Highlands the
     authority to:

a.   Act as its exclusive agent with respect to the cash receipts and processing
     of each Serviced Account.

b.   Be its true and lawful attorney-in-fact with full right, title and
     authority to endorse and negotiate any check, bank draft, money order or
     other negotiable instrument payable to Client in respect to any Serviced
     Contract in Client's name, place and stead.

c.   Initiate payment collection to be made to a depository bank designated by
     Highlands via pre-authorized electronic debit.

d.   Cause all payments to be deposited to one or more depository accounts held
     for the benefit of Client.

e.   Upon receipt by a Lockbox Bank, post to the records of the assigned account
     all amounts of any kind received on that account in accordance with any
     Lockbox Agreement.

f.   To withhold from collections on Serviced Contracts the service fees and
     amounts due hereunder.

10.  Duties of Highlands. Throughout the term of this agreement, Highlands or
     its assignee shall to the best of its skill and ability:

     a)   Use its own funds, tools, supplies, and equipment in the performance
          of its services hereunder.

     b)   Upon receipt from Client of any Serviced Contract, not set forth in
          Exhibit A, to be serviced by Highlands, send a written notice or
          coupon book to the Contract Obligors under the Serviced Contract
          setting forth payment instructions.

     c)   Post and deposit all payments or like monies received on Client'
          accounts within and maintain transaction history on all Serviced
          Contracts.

     d)   Maintain its records as they relate to the Serviced Contracts in
          accordance with generally accepted accounting principals and upon the
          Client's written request, give access thereto.

     e)   Mail written delinquent notices to the Contract Obligors of the
          Serviced Contracts as is reasonable where payment or other obligation
          becomes delinquent for more than 10 days.

     f)   Make as many telephone calls as it deems necessary to effectuate
          collection of amounts due under any Serviced Contract if Client
          contracted for telephone collection service of delinquent accounts.

     g)   Notify Client of any Serviced Contract that is delinquent for a period
          in excess of One Hundred and Twenty days.

     h)   Provide Client with a monthly accounting in respect to each and every
          Serviced Contract submitted to it hereunder.

     i)   Provide Client with a monthly invoice for all fees due after deducting
          any payments withheld by Highlands for fees from payments under the
          Serviced Contracts.

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11.  Delinquency Collections. Highlands will provide collection services for
     accounts that become over ten (10) days delinquent in accordance with the
     following:

     a)   Highlands shall send notifications to delinquent Contract Obligors and
          in its discretion initiate telephonic and written collection efforts.

     b)   At the conclusion of One Hundred Twenty (120) Days from the point of
          delinquency, Highlands shall consult with Client concerning the
          disposition of the subject account. The services and fees for such
          services shall be determined and agreed to by both parties.

12.  Attorney's Fees. In the event of any dispute under this Agreement, the
     prevailing party shall receive an award of reasonable attorney's fees and
     costs and in the event of a default in this agreement; the defaulting party
     shall pay the non-defaulting party its attorney's fees and costs, whether
     or not suit is actually filed.

13.  Entire Agreement. This Agreement constitutes the entire Agreement between
     the parties with respect to the subject matter herein. All prior
     contemporaneous agreements, understandings, representations, warranties and
     statements, oral or written, relating to the subject matter hereof are
     superseded. No modification to or amendment to this Agreement shall be
     binding unless in writing and executed by both parties.

14. Governing Law; Venue. This Agreement shall be construed and interpreted in
accordance with the laws of the State of Colorado. Venue in any action brought
with respect to any provision of this Agreement shall be in Jefferson or Denver
County, Colorado and Client specifically consents to the jurisdictions of any
state or federal court sitting in either of the aforementioned counties.

15.Miscellaneous.

a)   Each party agrees that the covenants and promises contained herein are good
     and sufficient consideration for the respective obligations required
     hereunder.

b)   Should any term or condition hereof be deemed void or unenforceable, the
     remaining provisions of this Contract shall remain in full force and
     effect.

c)   The parties have independently, separately and freely negotiated each and
     every provision of this Contract as if all parties drafted this Contract.
     The parties, therefore, waive any statutory or common law presumption that
     would serve to have this document construed in favor of; or against, either
     party.

d)   This Contract may be executed in any number of counterparts, including
     original or facsimile counterparts, all of which when taken together shall
     constitute the entire contract of the parties.

e)   The failure of Highlands to immediately exercise any right herein shall not
     constitute a waiver of the right to do so later or constitute a waiver to
     exercise any other rights immediately or later. The waiver of any one right
     or condition precedent of Highlands shall not be a waiver of any other
     right or condition precedent by Highlands.

f)   All notices required herein shall be in writing and deemed delivered (i)
     upon personal delivery to the parties hereto, or (ii) one business day
     after being sent overnight mail, postage prepaid, or (iii) when sent by
     facsimile with transmission verification, or (iv) three days after being
     mailed to the parties hereto by United States Mail, return receipt
     requested, postage prepaid, addressed as set forth below, unless written
     notice of change of address is hereafter given by the parties as provided
     herein.

g)   Nothing herein shall be deemed to constitute or create a partnership or
     joint venture between Highlands and Client.

h)   Whenever in this Agreement the context so requires, the singular shall
     include the plural and the plural the singular.

<PAGE>

CLIENT:  COLLEGE BOUND STUDENT ALLIANCE, INC., AND ITS SUBSIDIARY,
         THE COLLEGE PARTNERSHIP, INC., (collectively "CBSA") A NEVADA CORP.

BY:  ______________________________________   ______
         (signature required)                 Date

Name: _____________________________________
Title:  ___________________________________
Address:  _________________________________

STATE OF: _____________________
COUNTY OF: ____________________

On this _________ day of ____________, in the year 20____, before me, the
undersigned a Notary Public in and for the State of __________________,
personally appeared ______________________________, personally known to me (or
proven to me on the basis of satisfactory evidence) to be the person whose name
is subscribed to the within instrument and acknowledged to me that he executed
the same in his/her signature on the instrument the person, or entity upon
behalf of which person acted, executed the Instrument,

WITNESS my hand and official seal,          _________________________________
                                            Notary Public

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HIGHLANDS PREMIER ACCEPTANCE CORP.
A Colorado Corporation
Wells Fargo Bank Building
10288 W. Chatfield Ave, Suite 209
Littleton, CO 80127

By: _______________________________________   ______
         (signature required)                 Date
Name:  ____________________________________
Title:   __________________________________

STATE OF: _____________________
COUNTY OF: ____________________

On this ____________ day of ____________, in the year 20___, before me, the
undersigned a Notary Public in and for the State of _______________, personally
appeared ___________________________________, personally known to me (or proven
to be on the basis of satisfactory evidence) to be the person whose name is
subscribed to the within instrument and acknowledged to me that he executed the
same in his/her signature on the instrument the person, or entity upon behalf of
which person acted, executed the Instrument.

WITNESS my hand and official seal,          _________________________________
                                            Notary Public

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