Document:

Exhibit 10.2

[MERRILL LYNCH LOGO]                                 COLLATERAL INSTALLMENT NOTE
================================================================================
$1,498,808.00                                                       June 6, 2002

                          COLLATERAL INSTALLMENT NOTE

FOR VALUE  RECEIVED,  SEL-LEB  MARKETING,  INC.,  a  corporation  organized  and
existing under the laws of the State of New York ("Customer") hereby promises to
pay  to  the  order  of  MERRILL  LYNCH  BUSINESS  FINANCIAL  SERVICES  INC.,  a
corporation  organized  and  existing  under the laws of the  State of  Delaware
("MLBFS"),  in lawful  money of the  United  States,  the  principal  sum of One
Million  Four  Hundred  Ninety-Eight  Thousand  Eight  Hundred  Eight And 00/100
Dollars  ($1,498,808.00),  or if more or less, the aggregate  amount advanced by
MLBFS to Customer  pursuant to the Loan Agreement (the "Loan Amount");  together
with  interest on the unpaid  balance of the Loan Amount,  from the Closing Date
until payment, at the Interest Rate, as follows:

1. DEFINITIONS.

(a) In addition to terms  defined  elsewhere in this Note,  as used herein,  the
following terms shall have the following meanings:

(i) "Closing Date" shall mean the date of advancement of funds hereunder.

(ii) "Excess Interest" shall mean any amount or rate of interest  (including the
Default Rate and, to the extent that they may be deemed to constitute  interest,
any prepayment fees, late charges and other fees and charges)  payable,  charged
or received  in  connection  with any of the Loan  Documents  which  exceeds the
maximum amount or rate of interest permitted under applicable law.

(iii)  "Interest  Rate" shall mean a variable per annum rate equal to the sum of
(i) 2.75% per annum,  and (ii) the interest rate from time to time  published in
the "Money  Rates"  section of THE WALL STREET  JOURNAL as the one-month  London
Interbank Offered Rate (the "One-Month LIBOR").  Notwithstanding anything to the
contrary, if more than one rate is so published, then the interest rate shall be
the highest of such  published  rates.  The Interest  Rate will change as of the
date of  publication  in THE WALL STREET  JOURNAL of a  One-Month  LIBOR that is
different from that  published on the preceding  Business Day. In the event that
THE WALL STREET  JOURNAL  shall,  for any  reason,  fail or cease to publish the
One-Month  LIBOR,  MLBFS will choose a reasonably  comparable index or source to
use as the basis for the Interest Rate.

(iv) "Loan Agreement"  shall mean that certain TERM LOAN AND SECURITY  AGREEMENT
dated as of the date hereof  between  Customer  and MLBFS,  as the same may have
been or may hereafter be amended or supplemented.

(v) "Note" shall mean this COLLATERAL INSTALLMENT NOTE.

(b) Capitalized  terms used herein and not defined herein shall have the meaning
set forth in the Loan Agreement. Without limiting the foregoing, the terms "Loan
Documents",  "Bankruptcy Event" and "Event of Default" shall have the respective
meanings set forth in the Loan Agreement.

2. PAYMENT AND OTHER TERMS.  Customer shall pay the indebtedness under this Note
in 36 consecutive monthly installments commencing on the first day of the second
calendar  month  following  the Closing Date and  continuing on the first day of
each calendar month  thereafter until this Note shall be paid in full. Each such
installment  in an amount  equal to the sum of (i)  accrued  interest,  and (ii)
1/36th of the Loan Amount (with the first such  installment  including  interest
accrued from the date of funding).

Each payment received  hereunder shall be applied FIRST to any fees and expenses
of MLBFS payable by Customer under the terms of the Loan  Agreement  (including,
without  limitation,  late  charges),  NEXT to accrued  interest at the Interest
Rate, WITH THE BALANCE applied on account of the unpaid principal  hereof, or in
such other manner as the holder hereof may  hereinafter  determine  from time to
time for the  allocation  of such  payments  thereof.  Any part of the principal
hereof or  interest  hereon or other sums  payable  hereunder  or under the Loan
Agreement  not paid  within  ten (10) days of the  applicable  due date shall be
subject to a late charge equal to the lesser of (i) 5% of the overdue amount, or
(ii) the maximum amount  permitted by law. All interest shall be computed on the
basis of actual days elapsed  over a 360-day  year.  All sums payable  hereunder
shall be payable at 2356 Collections Center Drive,  Chicago,  Illinois 60693, or
at such other place or places as the holder hereof may from time to time appoint
in writing.

Customer may prepay this Note at any time in whole or in part without premium or
penalty.  Any partial  prepayment  shall be applied to  installments of the Loan
Amount in inverse order of maturity.

<PAGE>

This Note is the Collateral  Installment Note referred to in, and is entitled to
all of the benefits of the Loan  Agreement and any Loan  Documents.  If Customer
shall fail to pay when due any  installment or other sum due hereunder,  and any
such failure  shall  continue for more than five (5) Business Days after written
notice thereof shall have been given by the holder hereof to Customer, or if any
other Event of Default shall have occurred and be continuing, then at the option
of  the  holder  hereof  (or,  upon  the  occurrence  of any  Bankruptcy  Event,
automatically,  without  any  action on the part of the holder  hereof),  and in
addition to all other  rights and  remedies  available  to such holder under the
Loan  Agreement,  any Loan Documents,  and otherwise,  the entire Loan Amount at
such time remaining unpaid, together with accrued interest thereon and all other
sums then owing by Customer under the Loan Agreement,  may be declared to be and
thereby become immediately due and payable.

It is  expressly  understood,  however,  that  nothing  contained  in  the  Loan
Agreement, any other agreement,  instrument or document executed by Customer, or
otherwise,  shall  affect  or  impair  the  right,  which is  unconditional  and
absolute,  of the holder  hereof to  enforce  payment of all sums due under this
Note at or after maturity, whether by acceleration or otherwise, or shall affect
the obligation of Customer, which is also unconditional and absolute, to pay the
sums payable under this Note in accordance  with its terms.  Except as otherwise
expressly  set forth herein or in the Loan  Agreement,  Customer  hereby  waives
presentment,  demand  for  payment,  protest  and notice of  protest,  notice of
dishonor,  notice of acceleration,  notice of intent to accelerate and all other
notices and formalities in connection with this Note.

Wherever  possible  each  provision  of this Note shall be  interpreted  in such
manner as to be effective and valid under  applicable  law, but if any provision
of this Note shall be prohibited  by or invalid  under such law, such  provision
shall be  ineffective to the extent of such  prohibition  or invalidity  without
invalidating the remainder of such provision or the remaining provisions of this
Note.  Notwithstanding  any  provision  to the  contrary in this Note,  the Loan
Agreement or any of the Loan  Documents,  no  provision  of this Note,  the Loan
Agreement or any of the Loan  Documents  shall require the payment or permit the
collection of any Excess Interest. Notwithstanding any provision to the contrary
in any of the Loan  Documents,  no provision of the Loan Documents shall require
the payment or permit the collection of Excess Interest.  If any Excess Interest
is provided for, or is adjudicated as being provided for, in this Note, the Loan
Agreement  or any  of the  Loan  Documents,  then:  (a)  Customer  shall  not be
obligated to pay any Excess Interest; and (b) If any Excess Interest is provided
for, or is  adjudicated  as being provided for, in, then: (i) Customer shall not
be obligated to pay any Excess Interest; and (ii) any Excess Interest that MLBFS
may have received under any of the Loan Documents shall, at the option of MLBFS,
be applied as a credit against the then unpaid  principal  balance of this Note,
or accrued  interest hereon not to exceed the maximum amount permitted by law or
refunded to the payor thereof.

Upon the  occurrence  and during the  continuance  of any  Default,  but without
limiting  the rights and  remedies  otherwise  available  to MLBFS  hereunder or
waiving such Default,  the interest  payable by Customer  hereunder shall at the
option of MLBFS  accrue and be payable at the Default  Rate.  The Default  Rate,
once  implemented,  shall continue to apply to the Obligations  under this Note,
the Loan Agreement or any of the Loan Documents and be payable by Customer until
the date MLBFS gives written notice (which shall not be unreasonably  delayed or
withheld) that such Default has been cured to the satisfaction of MLBFS.

This  Note  shall be  construed  in  accordance  with  the laws of the  State of
Illinois and may be enforced by the holder hereof in any  jurisdiction  in which
the Loan Agreement may be enforced.

IN WITNESS  WHEREOF,  this Note has been  executed by Customer as of the day and
year first above written.

SEL-LEB MARKETING, INC.

By:  /s/HAL MARKOWITZ
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              Signature (1)                     Signature (2)

     Hal Markowitz
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              Printed Name                      Printed Name

     Chairman
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              Title                             TitleExhibit 10.3

[MERRILL LYNCH LOGO]                                      UNCONDITIONAL GUARANTY
================================================================================

FOR VALUE  RECEIVED,  and in order to induce  MERRILL LYNCH  BUSINESS  FINANCIAL
SERVICES INC. ("MLBFS") to advance moneys or extend or continue to extend credit
or lease  property to or for the  benefit of, or modify its credit  relationship
with, or enter into any other financial  accommodations  with SEL-LEB MARKETING,
INC., a corporation  organized  and existing  under the laws of the State of New
York  (with any  successor  in  interest,  including,  without  limitation,  any
successor by merger or by operation of law, herein  collectively  referred to as
"Customer") under: (a) that certain TERM LOAN AND SECURITY AGREEMENT dated as of
June 6, 2002 between  MLBFS and Customer (the "Loan  Agreement"),  (b) any "Loan
Documents",  as that term is defined in the Loan Agreement,  including,  without
limitation,  the NOTE  incorporated by reference in the Loan Agreement,  and (c)
all present and future amendments, restatements, supplements and other evidences
of any extensions, increases, renewals, modifications and other changes of or to
the  Loan  Agreement  or  any  Loan  Documents  (collectively,  the  "Guaranteed
Documents"),  and for other good and  valuable  consideration,  the  receipt and
sufficiency of which is hereby  acknowledged,  THE  UNDERSIGNED,  ALES SIGNATURE
LTD., a corporation  organized  and existing  under the laws of the State of New
York ("Guarantor"),  HEREBY UNCONDITIONALLY  GUARANTEES TO MLBFS: (i) the prompt
and full payment when due, by acceleration or otherwise,  of all sums now or any
time hereafter due from Customer to MLBFS under the Guaranteed  Documents,  (ii)
the prompt, full and faithful  performance and discharge by Customer of each and
every  other  covenant  and  warranty of  Customer  set forth in the  Guaranteed
Documents,  and (iii) the prompt and full payment and  performance  of all other
indebtedness,  liabilities  and  obligations  of  Customer  to MLBFS,  howsoever
created  or   evidenced,   and  whether  now  existing  or   hereafter   arising
(collectively,   the  "Obligations").   Guarantor  further  agrees  to  pay  all
reasonable  costs and expenses  (including,  but not limited to, court costs and
reasonable  attorneys' fees) paid or incurred by MLBFS in endeavoring to collect
or enforce performance of any of the Obligations, or in enforcing this Guaranty.
Guarantor  acknowledges  that MLBFS is relying on the  execution and delivery of
this Guaranty in advancing moneys to or extending or continuing to extend credit
to or for the benefit of Customer.

This  Guaranty is absolute,  unconditional  and  continuing  and shall remain in
effect until all of the Obligations shall have been fully and indefeasibly paid,
performed and discharged.  Upon the occurrence and during the continuance of any
default or Event of Default under any of the Guaranteed Documents, any or all of
the indebtedness  hereby guaranteed then existing shall, at the option of MLBFS,
become immediately due and payable from Guarantor (it being understood, however,
that upon the  occurrence  of any  "Bankruptcy  Event",  as  defined in the Loan
Agreement,  all such  indebtedness  shall  automatically  become due and payable
without action on the part of MLBFS). Notwithstanding the occurrence of any such
event,  this Guaranty shall continue and remain in full force and effect. To the
extent MLBFS receives  payment with respect to the  Obligations,  and all or any
part of such payment is subsequently  invalidated,  declared to be fraudulent or
preferential,  set aside,  required  to be repaid by MLBFS or is repaid by MLBFS
pursuant to a settlement agreement,  to a trustee,  receiver or any other person
or entity, whether under any Bankruptcy law or otherwise (a "Returned Payment"),
this Guaranty shall continue to be effective or shall be reinstated, as the case
may  be,  to the  extent  of  such  payment  or   repayment  by  MLBFS,  and the
indebtedness or part thereof  intended to be satisfied by such Returned  Payment
shall be revived  and  continued  in full  force and effect as if said  Returned
Payment had not been made.

The liability of Guarantor  hereunder  shall in no event be affected or impaired
by any of the following,  any of which may be done or omitted by MLBFS from time
to time,  without  notice to or the  consent  of  Guarantor:  (a) any  renewals,
amendments,  restatements,  modifications  or  supplements  of or to  any of the
Guaranteed Documents, or any extensions,  forbearances,  compromises or releases
of any of the  Obligations  or any of MLBFS' rights under any of the  Guaranteed
Documents;  (b) any  acceptance  by MLBFS of any  collateral or security for, or
other  guarantees  of,  any of the  Obligations;  (c) any  failure,  neglect  or
omission on the part of MLBFS to realize upon or protect any of the Obligations,
or any collateral or security therefor, or to exercise any lien upon or right of
appropriation  of any  moneys,  credits or  property  of  Customer  or any other
guarantor, possessed by or under the control of MLBFS or any of its affiliates,
toward the  liquidation  or reduction of the  Obligations;  (d) any  invalidity,
irregularity or unenforceability  of all or any part of the Obligations,  of any
collateral security for the Obligations,  or the Guaranteed  Documents;  (e) any
application  of  payments or credits by MLBFS;  (f) the  granting of credit from
time to time by MLBFS to  Customer  in  excess  of the  amount  set forth in the
Guaranteed Documents; or (g) any other act of commission or omission of any kind
or at any time upon the part of MLBFS or any of its  affiliates  or any of their
respective  employees  or agents with  respect to any matter  whatsoever.  MLBFS
shall not be required at any time,  as a condition  of  Guarantor's  obligations
hereunder,  to resort to payment  from  Customer  or other  persons or  entities
whatsoever,  or any of their properties or estates,  or resort to any collateral
or pursue or exhaust any other rights or remedies whatsoever.

<PAGE>

No  release  or  discharge  in whole or in part of any  other  guarantor  of the
Obligations  shall  release or discharge  Guarantor  unless and until all of the
Obligations  shall have been indefeasibly  fully paid and discharged.  Guarantor
expressly waives presentment,  protest,  demand,  notice of dishonor or default,
notice of acceptance of this Guaranty,  notice of advancement of funds under the
Guaranteed  Documents and all other notices and formalities to which Customer or
Guarantor might be entitled, by statute or otherwise,  and, so long as there are
any  Obligations or MLBFS is committed to extend credit to Customer,  waives any
right to revoke or terminate this Guaranty  without the express  written consent
of MLBFS.

So long as there are any Obligations, Guarantor shall not have any claim, remedy
or   right   of   subrogation,    reimbursement,    exoneration,   contribution,
indemnification,  or  participation  in any  claim,  right,  or  remedy of MLBFS
against  Customer or any  security  which MLBFS now has or  hereafter  acquires,
whether or not such claim, right or remedy arises in equity, under contract,  by
statute, under common law, or otherwise.

MLBFS is hereby  irrevocably  authorized  by  Guarantor  at any time  during the
continuance  of an Event of Default under the Loan Agreement or any other of the
Guaranteed  Documents  or in  respect  of any of the  Obligations,  in its  sole
discretion and without demand or notice of any kind, to  appropriate,  hold, set
off and apply toward the payment of any amount due  hereunder,  in such order of
application as MLBFS may elect, all cash, credits, deposits, accounts, financial
assets,  investment  property,  securities  and any other  property of Guarantor
which is in  transit  to or in the  possession,  custody  or control of MLBFS or
Merrill Lynch, Pierce, Fenner & Smith Incorporated  ("MLPF&S"),  or any of their
respective agents, bailees or affiliates.  Guarantor hereby collaterally assigns
and grants to MLBFS a  continuing  security  interest  in all such  property  as
additional  security for the  Obligations.  Upon the  occurrence  and during the
continuance of an Event of Default, MLBFS shall have all rights in such property
available,  to  collateral  assignees and secured  parties under all  applicable
laws, including, without limitation, the Uniform Commercial Code.

<PAGE>

Guarantor  agrees to  furnish  to MLBFS such  financial  information  concerning
Guarantor as may be required by any of the Guaranteed  Documents or as MLBFS may
otherwise  from  time to  time  reasonably  request.  Guarantor  further  hereby
irrevocably  authorizes  MLBFS  and each of its  affiliates,  including  without
limitation MLPF&S, to at any time (whether or not an Event of Default shall have
occurred) obtain from and disclose to each other any and all financial and other
information about Guarantor.

No delay on the part of MLBFS in the  exercise of any right or remedy  under any
of the Guaranteed Documents,  this Guaranty or any other agreement shall operate
as a waiver  thereof,  and,  without  limiting  the  foregoing,  no delay in the
enforcement of any security interest, and no single or partial exercise by MLBFS
of any right or remedy shall preclude any other or further  exercise  thereof or
the exercise of any other right or remedy.  This Guaranty may be executed in any
number of counterparts,  each of which counterparts,  once they are executed and
delivered,  shall be deemed  to be an  original  and all of which  counterparts,
taken together,  shall  constitute but one and the same Guaranty.  This Guaranty
shall be binding upon Guarantor and its successors and assigns,  and shall inure
to the benefit of MLBFS and its successors  and assigns.  If there are more than
one  guarantor of the  Obligations,  all of the  obligations  and  agreements of
Guarantor are joint and several with such other guarantors.

This  Guaranty  shall be governed by the laws of the State of Illinois.  WITHOUT
LIMITING THE RIGHT OF MLBFS TO ENFORCE  THIS  GUARANTY IN ANY  JURISDICTION  AND
VENUE PERMITTED BY APPLICABLE  LAW: (I) GUARANTOR  AGREES THAT THIS GUARANTY MAY
AT THE OPTION OF MLBFS BE  ENFORCED  BY MLBFS IN EITHER THE STATE OF ILLINOIS OR
IN ANY OTHER  JURISDICTION  WHERE GUARANTOR,  CUSTOMER OR ANY COLLATERAL FOR THE
OBLIGATIONS  OF CUSTOMER  MAY BE LOCATED,  (II)  GUARANTOR  IRREVOCABLY  SUBMITS
ITSELF  TO  JURISDICTION  IN THE  STATE OF  ILLINOIS  AND  VENUE IN ANY STATE OR
FEDERAL  COURT IN THE  COUNTY OF COOK FOR SUCH  PURPOSES,  AND  (III)  GUARANTOR
WAIVES  ANY AND ALL  RIGHTS  TO  CONTEST  SAID  JURISDICTION  AND  VENUE AND THE
CONVENIENCE  OF ANY SUCH FORUM AND ANY AND ALL RIGHTS TO REMOVE SUCH ACTION FROM
STATE TO FEDERAL  COURT.  GUARANTOR  FURTHER  WAIVES ANY RIGHTS TO COMMENCE  ANY
ACTION AGAINST MLBFS IN ANY JURISDICTION  EXCEPT IN THE COUNTY OF COOK AND STATE
OF ILLINOIS.  MLBFS AND GUARANTOR HEREBY EACH EXPRESSLY WAIVE ANY AND ALL RIGHTS
TO A TRIAL BY JURY IN ANY ACTION,  PROCEEDING OR COUNTERCLAIM  BROUGHT BY EITHER
OF THE PARTIES  AGAINST THE OTHER PARTY WITH RESPECT TO ANY MATTER  RELATING TO,
ARISING  OUT OF OR IN ANY WAY  CONNECTED  WITH THIS  GUARANTY  AND/OR ANY OF THE
TRANSACTIONS  WHICH ARE THE SUBJECT MATTER OF THIS GUARANTY.  GUARANTOR  FURTHER
WAIVES THE RIGHT TO BRING ANY  NON-COMPULSORY  COUNTERCLAIMS.  Wherever possible
each  provision of this Guaranty  shall be  interpreted  in such manner as to be
effective and valid under  applicable law, but if any provision of this Guaranty
shall be  prohibited  by or invalid  under  such law,  such  provision  shall be
ineffective  only to the  extent  of such  prohibition  or  invalidity,  without
invalidating the remainder of such provision or the remaining provisions of this
Guaranty.  No  modification  or waiver of any of the provisions of this Guaranty
shall be effective unless in writing and signed by both Guarantor and an officer
of MLBFS.  Each  signatory  on behalf of Guarantor  warrants  that he or she has
authority to sign on behalf of Guarantor,  and by so signing,  to bind Guarantor
hereunder.

Dated as of June 6, 2002.

ALES SIGNATURE LTD

BY:

By:  /s/HAL MARKOWITZ
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              Signature (1)                     Signature (2)

     Hal Markowitz
--------------------------------------------------------------------------------
              Printed Name                      Printed Name

     Chairman
--------------------------------------------------------------------------------
              Title                             Title

Address of Guarantor:
     495 River Street
     Paterson, NJ 07524

                                      -2-

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