Document:

Exhibit 10.38

                               PURCHASE AGREEMENT

                  THIS PURCHASE AGREEMENT (this  "Agreement"),  made as of March
1, 2001, by and between ELBE PROPERTIES, an Ohio general partnership,  having an
address at 8534 East Kemper Road, Cincinnati, Ohio ("Seller"), and JAGI DOSWELL,
L.L.C.,  a  Delaware  limited  liability  company,  having  an  address  at 2300
Corporate Blvd., N.W., Suite 232, Boca Raton, Florida ("Purchaser").

                  WHEREAS,  Seller owns a fifteen  percent  (15%)  interest as a
general partner in Kings Dominion  Lodge, a Virginia  general  partnership  (the
"Partnership"); and

                  WHEREAS,  Seller  desires to sell to Purchaser,  and Purchaser
desires to purchase from Seller all of Seller's interest,  as a general partner,
in the  Partnership,  being a fifteen  percent (15%) interest (the  "Partnership
Interest"); and

                  WHEREAS,  the terms and  conditions  for the sale and purchase
have been negotiated and agreed upon by the parties.

                  NOW, THEREFORE, in consideration of the above premises and the
representations and covenants hereinafter contained, the parties hereto agree as
follows:

                  Section 1.  Sale and Purchase.

                  1.1 Sale of  Partnership  Interest.  Subject  to the terms and
conditions of this  Agreement,  Seller  hereby sells,  transfers and delivers to
Purchaser,  and Purchaser hereby purchases and acquires from Seller,  all right,
title and interest of Seller in and to the Partnership Interest.

                  1.2  Purchase  Price and Payment.  The purchase  price for the
Partnership  Interest  shall be Six Hundred  Thousand  Dollars  ($600,000)  (the
"Purchase Price"). The Purchase Price shall be payable upon Closing to Seller by
delivery of a demand note (the  "Note"),  made by the  Purchaser in favor of the
Seller, payable on demand and in the form of the Note attached hereto as Exhibit
A.

                  Section 2.  Closing

                  2.1  Closing.  The  closing  of the  purchase  and sale of the
Partnership  Interest  contemplated  by this Agreement shall take place upon the
execution of this Agreement (the "Closing").

                  2.2  Closing  Deliveries.  At the  Closing,  the Seller  shall
deliver to the Purchaser an Assignment of Partnership Interest, duly executed by
the Seller,  which shall transfer to the Purchaser good title to the Partnership
Interest,  free and clear of all claims, liens, security interests,  charges, or
other encumbrances of any nature whatsoever.  Upon Closing,  the Purchaser shall
deliver to the Seller the Note.

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                  Section 3.  Representations and Warranties of Seller.

                  Seller hereby  represents  and warrants to Purchaser,  knowing
and intending that Purchaser is relying hereon in entering into this  Agreement,
that:

                  3.1  Partnership  Interest.  Seller is the lawful owner of the
Partnership  Interest as a general partner in the  Partnership.  The Partnership
Interest is free and clear of any lien, pledge,  encumbrance,  security interest
or claim of any kind or  character  and of any  rights of any third  parties  to
purchase or assert any claim against such Partnership Interest.

                  3.2.  Due Formation.   Seller  is  a  general partnership duly
formed  under  the  laws  of  the  State of Ohio and has all requisite power and
authority to own, lease and operate its business as now being conducted.

                  3.3  Authority.  Seller  has  taken  all  necessary  action to
authorize the transfer and delivery to Purchaser of the Partnership Interest and
has the legal power and authority to execute, deliver and carry out the terms of
this  Agreement  and all  instruments  delivered  by  Seller  pursuant  to or in
connection  herewith.  The signing,  delivery and  performance of this Agreement
does not constitute a breach or default under any agreement or other restriction
to which  Seller is a party or by which  Seller or its  property is bound.  This
Agreement  has been duly executed and  delivered by Seller and  constitutes  the
legal, valid and binding obligation of Seller and is enforceable  against Seller
in accordance with its terms.

                  3.4 Consents. The execution and delivery of this Agreement and
the  consummation  of the  transactions  contemplated  herein do not  violate or
require  the  consent of any person  under any  agreement  to which  Seller is a
party.

                  Section 4.  Representations and Warranties of Purchaser.

                  Purchaser hereby represents and warrants to Seller, that:

                  4.1 Due Organization. Purchaser is a limited liability company
duly  organized  under the laws of the State of Delaware,  and has all requisite
power  and  authority  to own,  lease  and  operate  its  business  as now being
conducted.

                  4.2 Authority.  Purchaser has the legal power and authority to
execute,  deliver and carry out the terms of this Agreement and all  instruments
delivered  by  Purchaser  pursuant to or in  connection  herewith.  The signing,
delivery  and  performance  of this  Agreement  does not  constitute a breach or
default under any agreement or other  restriction to which  Purchaser is a party
or by which  Purchaser or its property is bound.  This  Agreement  has been duly
executed and delivered by Purchaser and constitutes the legal, valid and binding
obligation of Purchaser and is enforceable  against Purchaser in accordance with
its terms.

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                  4.3  Purchase  for  Investment.  Purchaser  is  acquiring  the
Partnership  Interest for its own account and not with a view to distribution of
the  Partnership  Interest.  Purchaser has been afforded the  opportunity to ask
questions  of, and receive  answers from Seller  regarding an  investment in the
Partnership. Purchaser has been furnished with all information and all documents
that it has requested pertaining thereto. Purchaser is relying solely on its own
investigation in determining whether to invest in the Partnership.

                  Section 5.  Indemnification; Survival

                  5.1 Indemnification by the Seller. The Seller shall indemnify,
defend and hold Purchaser  harmless against any and all liabilities,  loss, cost
or damage,  together  with all  reasonable  costs and expenses  related  thereto
(including legal and accounting fees and expenses) arising from, relating to, or
connected  with the untruth,  inaccuracy or material  breach of any  statements,
representations, or warranties of Seller contained in Section 3 hereof.

                  5.2  Indemnification by Purchaser.  Purchaser shall indemnify,
defend and hold the Seller harmless against any and all liabilities,  loss, cost
or damage,  together  with all  reasonable  costs and expenses  related  thereto
(including legal and accounting fees and expenses),  arising from,  relating to,
or connected with the untruth,  inaccuracy or material breach of any statements,
representations, or warranties of the Buyer contained in Section 4 hereof.

                  5.3  Survival.   This   Agreement  and  all   representations,
warranties,  and  agreements  made herein and pursuant  hereto shall survive the
Closing and will be true and correct as of the date of the Closing as if made on
that date.

                  Section 6.  Prior Agreements.

                  Seller  and  Purchaser  agree  that  each and  every  term and
condition of this Agreement  shall  supersede any other agreement by and between
Seller  and  Purchaser,  whether  oral  or  written,  regarding  the  terms  and
conditions of the sale and purchase of the Partnership  Interest,  and all prior
agreements shall be declared null and void.

                  Section 7.  Further Assurances.

                  Seller agrees to take such further action,  and to execute and
deliver such further documents, agreements,  certificates and instruments as may
be necessary or as any other party shall reasonably request from time to time to
give full effect to or to  evidence  the  transactions  which are the subject of
this Agreement.

                  Section 8.  Governing Law.

                  This   Agreement   shall  be  governed  by  and  construed  in
accordance with the laws of the State of Delaware,  without regard to principles
of conflicts of laws.

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<PAGE>

                  Section 9.  Notice.

                  Whenever  under the  provisions  of this  Agreement  notice is
required  to be given,  it shall be in  writing  and shall be deemed  given when
either served personally or mailed, return receipt requested,  to the parties at
their respective addresses as set forth herein.

                  Section 10.  Waiver.

                  The failure of a party to insist upon strict  adherence to any
term of this  Agreement  on any  occasion  shall not be  considered  a waiver or
deprive that party of the right  thereafter  to insist upon strict  adherence to
that term or any other term of this Agreement.

                  Section 11.  Severability.

                  In the event any  provision  of this  Agreement  shall be held
invalid or  unenforceable  by any court,  such holding  shall not  invalidate or
render  unenforceable any other provision of this Agreement,  and each and every
other provision of this Agreement shall continue in full force and effect.

                  Section 12.  Entire Agreement; Binding Effect; Amendment.

                  This Agreement  contains the entire  agreement of the parties,
and shall  inure to the benefit of and be binding  upon the  parties  hereto and
upon their  successors in interest of any kind  whatsoever,  including,  but not
limited  to,  their  heirs,  executors,  administrators,   guardians,  trustees,
attorneys-in-fact  and  legal and  personal  representatives  (except  as herein
otherwise provided). This Agreement may not be amended, supplemented or modified
except in a writing  executed by the parties  hereto.  This Agreement may not be
waived orally, but only by an agreement in writing,  signed by the party against
whom enforcement of any waiver is sought.

                  Section 13.  Section Headings.

                  Section headings contained in this Agreement are for reference
purposes only and shall not affect in any way the meaning or  interpretation  of
this Agreement.

                  Section 14.  Counterparts.

                  This Agreement may be executed in one or more counterparts, in
which event all of said  counterparts  shall be deemed to be  originals  of this
Agreement.

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<PAGE>

     IN WITNESS WHEREOF,  each party hereto has executed this Purchase Agreement
as of the day and year first above written.

                                   PURCHASER:

                                   JAGI DOSWELL, L.L.C.

                                   By:
                                      ----------------------------------------
                                      Name:  Richard A. Tonges
                                      Title:    Manager

                                   SELLER:

                                   ELBE PROPERTIES

                                   By:
                                   -------------------------------------------
                                   Name:  Louis S. Beck
                                   Title:    Partner

                                       5ESCROW AGREEMENT IN ACCORDANCE WITH RULE 419

                        UNDER THE SECURITIES ACT OF 1933

     ESCROW  AGREEMENT  dated as of February 28, 2001 (the  "Agreement")  by and
between  KNIGHTSBRIDGE  INVESTMENTS,  INC. (the "Company"),  and ADAMS DAVIS CO.
(the "Escrow Agent"), (collectively the "Parties" and, individually, a "Party").

     The Company,  through its President,  will sell in its public offering (the
"Offering")  up to 1,000,000  units (the  "Units")  each Unit  consisting of one
share of  common  stock,  par  value  $.001  (the  "Shares")  and one  Class "A"
redeemable  common stock purchase  warrant and one Class "B"  redeemable  common
stock  purchase  warrant  (the  "Warrants"),  as  more  fully  described  in the
Company's definitive  Prospectus  comprising part of the Company's  Registration
Statement on Form SB-2 (the  "Registration  Statement") under the Securities Act
of 1933, (the "Securities  Act") (File No.  333-45642)  declared  effective (the
"Prospectus").  The Company  desires  that the Escrow  Agent accept all offering
proceeds, with no deductions for amounts permitted to be released to the Company
under  Rule 419 to the  Securities  Act  ("Rule  419"),  a copy of which rule is
attached  hereto and made a part  hereof,  to be derived by the Company from the
sale of the Units (the  "Offering  Proceeds"),  as well as the share and warrant
certificates  representing the Shares and Warrants,  which constitute the Units,
issued in connection with the Offering,  in escrow,  to be held and disbursed as
hereinafter provided.

     NOW,  THEREFORE,  in consideration of the promises and the mutual covenants
hereinafter set forth, the Parties agree as follows:

     1. Appointment of Escrow Agent.

     The Company hereby  appoints the Escrow Agent to act in accordance with and
subject to the terms of this Agreement; and the Escrow Agent hereby accepts such
appointment and will act in accordance with and subject to such terms.

     2. Deposit of Offering Proceeds and Share Certificates.

     Subject  to  Rule  419,  upon  the  Company's  receipt  and  acceptance  of
subscriptions and Offering  Proceeds,  the Company shall promptly deliver to the
Escrow Agent such checks in the aggregate amount of the Offering  Proceeds drawn
to the order of the Escrow Agent or, alternatively, in the event that checks are
drawn to the order of the  Company,  they shall be  endorsed  by the Company for
collection by the Escrow Agent and credited to the Escrow Account.

     All share and warrant  certificates  representing  the Shares and Warrants,
respectively,  issued in connection with the Offering shall also be deposited by
the  Company  directly  into the Escrow  Account  promptly  upon  issuance.  The
identity of the purchasers of the securities  shall be included on the stock and
warrant certificates and other documents evidencing such securities.  Securities
held in the Escrow  Account are to remain as issued and  deposited  and shall be
held for the sole benefit of the  purchasers,  who shall have voting rights with
respect to securities held in their names.  No transfer or other  disposition of
securities held in the Escrow Account or any interest related to such securities
shall be permitted  other than by will or the laws of descent and  distribution,
or pursuant to a qualified  domestic  relations order as defined by the Internal
Revenue Code of 1986 as amended,  or Title 1 of the Employee  Retirement  Income
Security Act and the rules thereunder.

     Warrants held in the Escrow Account may not be exercised  during the period
in which the  certificates  representing  the  warrants  are held in the  Escrow
Account.

<PAGE>

     3. Disbursement of the Escrow Account.

     Upon  the  earlier  of  (i)  receipt  by  the  Escrow  Agent  of  a  signed
representation  from the Company to the Escrow Agent,  that the  requirements of
Rule  419  have  been  met,  and  consummation  of an  acquisition  meeting  the
requirements  of Rule 419 or (ii) written  notification  from the Company to the
Escrow  Agent to  deliver  the  Offering  Proceeds  to another  escrow  agent in
accordance with Paragraph 4 then, in such event, the Escrow Agent shall disburse
the Offering Proceeds (inclusive of any interest thereon) to the Company and the
securities to the purchasers or registered  holders  identified on the deposited
securities or deliver the Offering  Proceeds and securities to such other escrow
agent,  as the case may be,  whereupon  the Escrow Agent shall be released  from
further liability hereunder.

     Notwithstanding  the foregoing,  if the Company has not informed the Escrow
Agent  within  18 months  after the date of the  Prospects  in  writing  that an
acquisition meeting the requirements of Rule 419 has occurred, funds held in the
Escrow Account shall be returned by first class mail or equally prompt means pro
rata to the purchasers  and all  securities  held in the Escrow Account shall be
returned to the Company within five business days following that date.

     4. Concerning the Escrow Agent.

     The Escrow  Agent shall not be liable for any  actions  taken or omitted by
it, or any action suffered by it to be taken or omitted by it, in good faith and
in the exercise of its own best judgment, and may rely conclusively and shall be
protected  in acting  upon any order,  notice  demand,  certificate,  opinion or
advice of counsel  (including  counsel chosen by the Escrow  Agent),  statement,
instrument,  report or other paper or document (not only as to its due execution
and the validity and  effectiveness  of its provision,  but also as to the truth
and acceptability of any information therein contained) which is believed by the
Escrow Agent to be genuine and to be signed or presented by the proper person or
person.

     The Escrow Agent shall not be bound by any notice or demand, or any waiver,
modification,  termination or rescission of this Agreement unless evidenced by a
writing delivered to the Escrow Agent signed by the proper Party or Parties and,
if the duties or rights of the Escrow Agent are  affected,  unless it shall have
given its prior written consent thereto.

     The Escrow Agent shall not be responsible  for the sufficiency or accuracy,
the form of, or the execution validity,  value or genuineness of any document or
property  received,  held or delivered by it  hereunder,  or of any signature or
endorsement  thereon,  or for  any  lack  of  endorsement  thereon,  or for  any
description  therein, nor shall the Escrow Agent be responsible or liable in any
respect on account of the identity,  authority or rights of the person executing
or  delivering or purporting to execute or deliver any document or property paid
or delivered by the Escrow Agent under the provisions hereof.

     The Escrow  Agent shall not be liable for any loss which may be incurred by
reason of any investment of any monies or properties  which it holds  hereunder.

<PAGE>

     The Escrow Agent shall have the right to assume,  in the absence of written
notice to the  contrary  from the proper  person or  persons,  that a fact or an
event by reason of which an action  would or might be taken by the Escrow  Agent
does not exist or has not occurred,  without incurring  liability for any action
taken or omitted, in good faith and in the exercise of its own best judgment, in
reliance upon such assumption.

     The Escrow Agent shall be indemnified and held harmless by the Company from
and against any  expenses,  including  counsel fees and  disbursements,  or loss
suffered  by the  Escrow  Agent in  connection  with any  action,  suit or other
proceeding involving any claim, or in connection with any claim or demand, which
in any way directly or  indirectly  arises out of or relates to this  Agreement,
the services of the Escrow Agent hereunder, the monies or other property held by
it  hereunder  or any such  expense or loss.  Promptly  after the receipt by the
Escrow Agent of notice of any demand or claim or the commencement of any action,
suit or proceeding,  the Escrow Agent shall, if a claim in respect thereof shall
be made  against  the other  Parties,  notify such  Parties in writing;  but the
failure by the Escrow Agent to give such notice shall not relieve any Party form
any liability which such Party may have to the Escrow Agent hereunder.  Upon the
receipt of such notice,  the Escrow Agent, in its sole discretion,  may commence
an action in the nature of  interpleader  in an  appropriate  court to determine
ownership  or  disposition  of the Escrow  Account or it may  deposit the Escrow
Account  with the clerk of any  appropriate  court or it may  retain  the Escrow
Account  pending  receipt  of a final,  non-appealable  order of a court  having
jurisdiction  over  all  of  the  Parties  directing  to  whom  and  under  what
circumstances the Escrow Account is to be disbursed and delivered.

     The Escrow  Agent  shall be entitled to  reasonable  compensation  from the
Company  for all  services  rendered by it  hereunder.  From time to time on and
after the date hereof, the Company shall deliver or cause to be delivered to the
Escrow Agent such further  documents and instruments and shall do or cause to be
done such further acts as the Escrow  Agent shall  reasonably  request (it being
understood  that the Escrow Agent shall have no obligation to make such request)
to carry out more effectively the provisions and purposes of this Agreement,  to
evidence  compliance herewith or to assure itself that it is protected in acting
hereunder.  The Escrow Agent may resign at any time and be  discharged  from its
duties as Escrow Agent  hereunder by its giving the Company at least thirty (30)
days'  prior  written  notice  thereof.   As  soon  as  practicable   after  its
resignation,  the Escrow  Agent  shall  turn over to a  successor  escrow  agent
appointed  by  the  Company,   all  monies  and  property  held  hereunder  upon
presentation of the document  appointing the new escrow agent and its acceptance
thereof.  If no new escrow  agent is so  appointed  in the sixty (60) day period
following the giving of such notice of resignation, the Escrow Agent may deposit
the Escrow Account with any court it deems appropriate.

     The Escrow Agent shall resign and be  discharged  form its duties as Escrow
Agent hereunder if so requested in writing at any time by the Company, provided,
however,  that such  resignation  shall become effective only upon acceptance of
appointment  by a  successor  escrow  agent as provided  above.  Notwithstanding
anything  herein to the  contrary,  the Escrow Agent shall not be relieved  from
liability thereunder for its own gross negligence or its own willful misconduct.

<PAGE>

     5. Miscellaneous.

     This Agreement  shall for all purposes be deemed to be made under and shall
be construed in accordance with the internal laws of the State of Delaware. This
Agreement  contains  the entire  agreement  of the Parties  with  respect to the
subject  matter  hereof and,  except as expressly  provided  herein,  may not be
changed or modified except by an instrument in writing signed by the Party to be
charged.  The headings  contained in this  Agreement are for reference  purposes
only and shall not affect in any way the meaning or interpretation thereof.

     This  Agreement  shall be  binding  upon and  inure to the  benefit  of the
respective Parties and their legal representatives,  successors and assigns. Any
notice or other communication  required or which may be given hereunder shall be
in writing  and  either be  delivered  personally  or be  mailed,  certified  or
registered mail, return receipt requested,  postage prepaid, and shall be deemed
given when so delivered personally or, if mailed, two (2) days after the date of
mailing.  The Parties may change the persons and  addresses to which the notices
or other  communications  are to be sent by  giving  written  notice to any such
change in the manner provided herein for giving notice.

     WITNESS the execution of this Agreement as of the date first above written.

         KNIGHTSBRIDGE INVESTMENTS, INC.

         By:  /s/Tony Clements
             -------------------------
              Tony Clements, President

     This Escrow Agreement is accepted as of the 28th day of February, 2001.

         ROCKBRIDGE SECURITIES MANAGEMENT, INC.,
         Escrow Agent for Rockbridge Securities, Inc.,

         By:  /s/Robert Cashman
             --------------------------
              Robert Cashman, President

<PAGE>

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