Document:

EXHIBIT 4.3

                          SECURITY AND PLEDGE AGREEMENT
                          -----------------------------

         This SECURITY AND PLEDGE AGREEMENT (this "Agreement") is made as of
January 27, 2005, by and between VELOCITY ASSET MANAGEMENT, INC., a Delaware
corporation ("Pledgor"), and WELLS FARGO FOOTHILL, INC., a California
corporation ("Secured Party"), with reference to the following:

         WHEREAS, Pledgor is the sole member of TLOP ACQUISITION COMPANY,
L.L.C., a New Jersey limited liability company; and

         WHEREAS, Velocity Investments, L.L.C. ("Borrower"), a New Jersey
limited liability company, and Secured Party are parties to that certain Loan
and Security Agreement dated as of the date hereof (as the same may be amended,
restated, renewed, replaced, supplemented, increased or otherwise modified from
time to time, the "Loan Agreement"), providing, subject to the terms and
conditions thereof, for certain extensions of credit to be made by Secured Party
to the Borrower. Capitalized terms used herein without definition have the
identical meanings assigned to them in the Loan Agreement; and

         WHEREAS, to induce Secured Party to grant the extensions of credit and
other financial accommodations provided to Borrower pursuant to the Loan
Agreement, Pledgor desires to pledge, grant, transfer, and assign to Secured
Party, for the benefit of Secured Party and the Bank Product Providers, a
security interest in the Collateral (as hereinafter defined) owned by Pledgor as
security for the Secured Obligations (as hereinafter defined);

         NOW, THEREFORE, in consideration of the mutual promises, covenants,
representations, and warranties set forth herein and for other good and valuable
consideration, the parties hereto agree as follows:

         1.       Definitions and Construction.

                  (a)      Definitions.  As used in this Agreement:

                  "Agreement" shall mean this Security and Pledge Agreement.

                  "Bankruptcy Code" shall mean the Bankruptcy Reform Act of 1978
         (11 U.S.C. ss.ss.101-1330), as amended or supplemented from time to
         time, and any successor statute, and all of the rules issued or
         promulgated in connection therewith.

                  "Business Day" shall have the meaning ascribed thereto in the
         Loan Agreement.

                  "Chief Executive Office" shall mean the place where Pledgor
         manages the main part of its business operations or other affairs.

                  "Code" shall mean the California Uniform Commercial Code, as
         amended from time to time.

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                  "Collateral" shall mean all of Pledgor's personal property and
fixtures, including each of the following:

                  (a)      all of its Accounts (as defined in the Code),

                  (b)      all of its and Borrower's now owned or hereafter
                           acquired books and records, including all information
                           that is inscribed on a tangible medium or which is
                           stored in an electronic or other medium and is
                           retrievable in perceivable form indicating,
                           summarizing, or evidencing its assets (including the
                           Collateral) or liabilities, and all of its goods or
                           General Intangibles (as defined in the Code) related
                           to such information (collectively, "Books"),

                  (c)      all of its commercial tort claims, described on
                           Schedule A attached hereto,

                  (d)      all of its Deposit Accounts (as defined in the Code),

                  (e)      all of its Equipment (as defined in the Code),

                  (f)      all of its General Intangibles (as defined in the
                           Code),

                  (g)      all of its Inventory (as defined in the Code),

                  (h)      all of its Investment Property (as defined in the
                           Code), including all of its Pledged Collateral and
                           Securities Accounts (as defined in the Code),

                  (i)      letters of credit, letter-of-credit rights,
                           instruments, promissory notes, drafts, documents, and
                           chattel paper (including electronic chattel paper and
                           tangible chattel paper) (collectively, "Negotiable
                           Collateral"),

                  (j)      all of its letter-of-credit rights or secondary
                           obligations that support the payment or performance
                           of an Account, chattel paper, document, General
                           Intangible, instrument or Investment Property,

                  (k)      money or other assets of Pledgor that now or
                           hereafter come into the possession, custody, or
                           control of Secured Party, and

                  (l)      the proceeds and products, whether tangible or
                           intangible, of any of the foregoing, including
                           proceeds of insurance covering any or all of the
                           foregoing, and any and all Accounts, Books, Deposit
                           Accounts, Equipment, General Intangibles, Inventory,
                           Investment Property, Negotiable Collateral, real
                           property, Supporting Obligations, money, or other
                           tangible or intangible property resulting from the
                           sale, exchange, collection, or other disposition of
                           any of the foregoing, or any portion thereof or
                           interest therein, and the proceeds thereof.

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                  "Event of Default" shall have the meaning ascribed thereto in
         Section 9 of this Agreement.

                  "Future Rights" shall mean: (a) all shares of, all securities
         convertible or exchangeable into, and all warrants, options or other
         rights to purchase shares of stock or partnership interests, membership
         interests or other ownership interests and (b) the certificates or
         instruments representing such additional shares, convertible or
         exchangeable securities, warrants, and other rights and all dividends,
         cash, options, warrants, rights, instruments, and other property or
         proceeds from time to time received, receivable, or otherwise
         distributed in respect of or in exchange for any or all of such shares
         and other interests.

                  "Holder" and "Holders" shall have the meanings ascribed
         thereto in Section 3 of this Agreement.

                  "Issuer" shall mean the party issuing any Pledged Shares or
         Future Rights, and shall also mean any successors thereto, whether by
         merger or otherwise.

                  "Lien" shall mean any lien, mortgage, pledge, assignment
         (including any assignment of rights to receive payments of money),
         security interest, charge, or encumbrance of any kind (including any
         conditional sale or other title retention agreement, any lease in the
         nature thereof, or any agreement to give any security interest).

                  "Loan Documents" shall have the meaning ascribed thereto in
         the Loan Agreement.

                  "Obligations" shall have the meaning ascribed thereto in the
         Loan Agreement.

                  "Permitted Discretion" shall have the meaning ascribed thereto
         in the Loan Agreement.

                  "Permitted Liens" shall have the meaning ascribed thereto in
         the Loan Agreement.

                  "Person" shall have the meaning ascribed thereto in the Loan
         Agreement.

                  "Pledged Collateral" shall mean shall mean the Pledged Shares,
         the Future Rights, and the Proceeds, collectively.

                  "Pledged Shares" shall mean the shares, membership interests,
         units, partnership interests, and other equivalents, now owned or
         hereafter acquired by Pledgor, including, without limitation, those
         listed on Schedule B attached hereto and hereby incorporated herein.

                  "Proceeds" shall mean all proceeds (including proceeds of
         proceeds) of the Pledged Shares and Future Rights including all: (a)
         rights, benefits, distributions, premiums, profits, dividends,
         interest, cash, instruments, documents of title, Accounts, contract

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         rights, Inventory, Equipment, General Intangibles, Deposit Accounts,
         chattel paper, and other property from time to time received,
         receivable, or otherwise distributed in respect of or in exchange for,
         or as a replacement of or a substitution for, any of the Pledged
         Shares, Future Rights, or proceeds thereof (including any cash, stock,
         or other securities or instruments issued after any recapitalization,
         readjustment, reclassification, merger or consolidation with respect to
         the Issuers and any claims against securities intermediaries under
         ss.8511 of the Code or otherwise); (b) "proceeds," as such term is
         defined in ss.9102 of the Code; (c) proceeds of any insurance,
         indemnity, warranty, or guaranty (including guaranties of delivery)
         payable from time to time with respect to any of the Pledged Shares,
         Future Rights, or proceeds thereof; (d) payments (in any form
         whatsoever) made or due and payable to the Pledgor from time to time in
         connection with any requisition, confiscation, condemnation, seizure or
         forfeiture of all or any part of the Pledged Shares, Future Rights, or
         proceeds thereof; and (e) other amounts from time to time paid or
         payable under or in connection with any of the Pledged Shares, Future
         Rights, or proceeds thereof.

                  "Secured Party" shall have the meaning ascribed thereto in the
         preamble to this Agreement.

                  "Securities Act" shall have the meaning ascribed thereto in
         Section 10(b) of this Agreement.

                  "Subsidiary" shall have the meaning ascribed thereto in the
         Loan Agreement.

All initially capitalized terms used herein and not otherwise defined shall have
the meaning ascribed thereto in the Loan Agreement.

                  (b)      Construction.

                           (i)      Unless the context of this Agreement clearly
                  requires otherwise, references to the plural includes the
                  singular and to the singular include the plural, the part
                  include the whole, the term "including" is not limiting, and
                  the term "or" has, except where otherwise indicated, the
                  inclusive meaning represented by the phrase "and/or." The
                  words "hereof," "herein," thereby," "hereunder," and other
                  similar terms in this Agreement refer to this Agreement as a
                  whole and not exclusively to any particular provision of this
                  Agreement. Article, section, subsection, exhibit, and schedule
                  references are to this Agreement unless otherwise specified.
                  All of the exhibits or schedules attached to this Agreement
                  shall be deemed incorporated herein by reference. Any
                  reference to any of the following documents includes any and
                  all alterations, amendments, extensions, modifications,
                  renewals, or supplements thereto or thereof, as applicable:
                  this Agreement, the Loan Agreement, and any of the other Loan
                  Documents.

                           (ii)     Neither this Agreement nor any uncertainty
                  or ambiguity herein shall be construed or resolved against
                  Secured Party or Pledgor, whether under any rule of
                  construction or otherwise. On the contrary, this Agreement has
                  been reviewed by both of the parties and their respective

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                  counsel and shall be construed and interpreted according to
                  the ordinary meaning of the words used so as to fairly
                  accomplish the purposes and intentions of the parties hereto.

                           (iii)    In the event of any direct conflict between
                  the express terms and provisions of this Agreement and of the
                  Loan Agreement, the terms and provisions of the Loan Agreement
                  shall control.

         2.       Grant of Security Interest and Pledge. As security for the
prompt payment and performance of (collectively, the "Secured Obligations"):

                  (i)      the Obligations owing by Borrower when due, whether
                           at stated maturity, by acceleration or otherwise
                           (including amounts that would become due but for the
                           operation of the automatic stay under ss.362(a) of
                           the Bankruptcy Code),

                  (ii)     any other liabilities or obligations of Borrower
                           pursuant to the Loan Agreement or any of the other
                           Loan Documents (including amounts that would become
                           due but for the operation of the automatic stay under
                           ss.362(a) of the Bankruptcy Code); and

                  (iii)    the liabilities and obligations of the Pledgor under
                           this Agreement or any of the other Loan Documents,

the Pledgor hereby pledges, grants, transfers, and assigns to Secured Party, for
the benefit of Secured Party and the Bank Product Providers, a security interest
in all of Pledgor's now owned or hereafter acquired right, title, and interest
in and to the Collateral.

         3.       Delivery and Registration of Pledged Collateral.

                  (a)      All certificates or instruments representing or
         evidencing the Pledged Collateral shall be promptly delivered by the
         Pledgor to Secured Party or Secured Party's designee pursuant hereto at
         a location designated by Secured Party and shall be held by or on
         behalf of Secured Party pursuant hereto, and shall be in suitable form
         for transfer by delivery, or shall be accompanied by duly executed
         instruments of transfer or assignment in blank, all in form and
         substance satisfactory to Secured Party.

                  (b)      The Secured Party shall have the right, at any time
         during the continuance of an Event of Default, to transfer to or to
         register on the books of the Issuers (or of any other Person
         maintaining records with respect to the Pledged Collateral) in the name
         of Secured Party or any of its nominees any or all of the Pledged
         Collateral. In addition, Secured Party shall have the right at any time
         to exchange certificates or instruments representing or evidencing
         Pledged Collateral for certificates or instruments of smaller or larger
         denominations.

                  (c)      If, at any time and from time to time, any Pledged
         Collateral (including any certificate or instrument representing or
         evidencing any Pledged Collateral) is in the possession of a Person
         other than Secured Party or Pledgor (a "Holder"), then Pledgor shall
         immediately, at Secured Party's option, either cause such Pledged

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         Collateral to be delivered into Secured Party's possession, or execute
         and deliver to such Holder a written notification/instruction, and take
         all other steps necessary to perfect the security interest of Secured
         Party in such Pledged Collateral, including obtaining from such Holder
         a written acknowledgment that such Holder holds such Pledged Collateral
         for Secured Party, all pursuant to ss.ss.9313 and 9328 of the Code or
         other applicable law governing the perfection of Secured Party's
         security interest in the Pledged Collateral in the possession of such
         Holder. Each such notification/instruction and acknowledgment shall be
         in form and substance satisfactory to Secured Party.

                  (d)      If at any time and from time to time any Pledged
         Collateral consists of an uncertificated security or a security in book
         entry form, then Pledgor shall immediately cause such Pledged
         Collateral to be registered or entered, as the case may be, in the name
         of Secured Party, or otherwise cause Secured Party's security interest
         thereon to be perfected in accordance with applicable law.

         4.       Voting Rights and Dividends.

                  (a)      So long as no Event of Default shall have occurred
         and be continuing, Pledgor shall be entitled to exercise any and all
         voting and other consensual rights pertaining to the Pledged Collateral
         or any part thereof for any purpose not inconsistent with the terms of
         the Loan Agreement and shall be entitled to receive and retain any cash
         dividends or distributions paid in respect of the Pledged Collateral.

                  (b)      Upon the occurrence and during the continuance of an
         Event of Default, all rights of Pledgor to exercise the voting and
         other consensual rights or receive and retain cash dividends or
         distributions which it would otherwise be entitled to exercise or
         receive and retain, as applicable pursuant to Section 4(a) shall cease,
         and all such rights shall thereupon become vested in Secured Party, who
         shall thereupon have the sole right to exercise such voting or other
         consensual rights and to receive and retain such cash dividends and
         distributions. Pledgor shall execute and deliver (or cause to be
         executed and delivered) to Secured Party all such proxies and other
         instruments as Secured Party may request for the purpose of enabling
         Secured Party to exercise the voting and other rights which it is
         entitled to exercise pursuant to this Section 4(b).

         5.       Representations and Warranties.  Pledgor represents, warrants,
and covenants as follows:

                  (a)      Pledgor's (i) chief executive office is located in
         the state identified on Schedule C attached hereto; (ii) state of
         organization is the state identified in the first paragraph of this
         Agreement and (iii) exact legal name is as set forth in the first
         paragraph of this Agreement;

                  (b)      All information herein or hereafter supplied to
         Secured Party by or on behalf of Pledgor in writing with respect to the
         Collateral is, or in the case of information hereafter supplied will
         be, accurate and complete in all material respects;

                  (c)      The Pledgor is and will be the sole legal and
         beneficial owner of the Collateral (including the Pledged Shares as set
         forth in Schedule B attached hereto and all other Collateral acquired

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         by Pledgor after the date hereof) free and clear of any adverse claim,
         Lien, or other right, title, or interest of any party except for
         Permitted Liens and such Liens as are set forth on Schedule D attached
         hereto;

                  (d)      This Agreement, and either (i) the filing of a
         financing statement with the Secretary of State of Delaware naming the
         Pledgor as debtor and Secured Party as secured party and describing as
         collateral the Pledged Shares, or (ii) the delivery to Secured Party of
         the Pledged Shares representing Collateral (or the delivery to all
         Holders of the Pledged Shares representing Collateral of the
         notification/instruction referred to in Section 3 of this Agreement),
         creates a valid, perfected, and first priority security interest in all
         of the Pledged Shares in favor of Secured Party securing payment and
         performance of the Secured Obligations, and all actions necessary to
         achieve such perfection have been duly taken;

                  (e)      Schedule B attached hereto is true and correct and
         complete in all material respects; without limiting the generality of
         the foregoing: (i) all the Pledged Shares are in certificated form,
         except as otherwise noted on Schedule B attached hereto, and, except to
         the extent registered in the name of Secured Party or its nominee
         pursuant to the provisions of this Agreement, are registered in the
         name of Pledgor; and (ii) the Pledged Shares as to each of the Issuers
         constitute at least the percentage of all the fully diluted issued and
         outstanding shares of stock or units or membership interests of such
         Issuer as set forth in Schedule B attached hereto;

                  (f)      There are no presently existing Future Rights or
         Proceeds owned by Pledgor, except as set forth in Schedule E attached
         hereto;

                  (g)      The Pledged Shares have been duly authorized and
         validly issued and are fully paid and nonassessable;

                  (h)      Neither the pledge of the Collateral pursuant to this
         Agreement nor the extensions of credit represented by the Obligations
         violates Regulation T, U or X of the Board of Governors of the Federal
         Reserve System;

                  (i)      There are no restrictions upon the voting rights or
         the transfer of all or any of the Pledged Collateral existing on the
         date hereof (other than may appear on the face of any certificate or
         instrument evidencing such Pledged Collateral or as may be imposed by
         the Securities Act, or any other state or local authorities) and
         Pledgor has the right to vote, pledge, grant a security interest in and
         otherwise transfer the Pledged Collateral free of any encumbrances
         (other than applicable restrictions imposed by any state or local
         authorities, or federal or state securities laws or regulations); and

                  (j)      Pledgor has taken all steps necessary or appropriate
         to be informed on a continuing basis of changes or potential changes
         affecting the Pledged Collateral (including rights of conversion and
         exchange, rights to subscribe, payment of dividends, reorganizations or
         recapitalization, tender offers and voting rights), and Pledgor agrees
         that Secured Party shall have no responsibility or liability for
         informing Pledgor of any such changes or potential changes or for
         taking any action or omitting to take any action with respect thereto.

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         6.       Further Assurances.

                  (a)      Pledgor agrees that from time to time, at the expense
         of Pledgor, Pledgor will promptly execute and deliver all further
         instruments and documents, and take all further action that may be
         necessary or that Secured Party may request in the exercise of its
         Permitted Discretion, in order to perfect and protect any security
         interest granted or purported to be granted hereby or to enable Secured
         Party to exercise and enforce its rights and remedies hereunder with
         respect to any Collateral. Without limiting the generality of the
         foregoing, if requested by Secured Party, Pledgor will: (i) mark
         conspicuously each of its records pertaining to the Collateral with a
         legend, in form and substance satisfactory to Secured Party, indicating
         that such Collateral is subject to the security interest granted
         hereby; (ii) file such financing or continuation statements, or
         amendments thereto, and such other instruments or notices, as may be
         necessary or desirable, or as Secured Party may request in the exercise
         of Permitted Discretion, in order to perfect and preserve the security
         interests granted or purported to be granted hereby; (iii) as more
         fully set forth in the Loan Agreement, allow inspection of the
         Collateral by Secured Party or Persons designated by Secured Party; and
         (iv) appear in and defend any action or proceeding that may affect
         Pledgor's title to or Secured Party's security interest in the
         Collateral.

                  (b)      Pledgor hereby authorizes Secured Party to file one
         or more financing or continuation statements, and amendments thereto,
         relative to all or any part of the Collateral without the signature of
         Pledgor where permitted by law. A carbon, photographic, or other
         reproduction of this Agreement or any financing statement covering the
         Collateral or any part thereof shall be sufficient as a financing
         statement where permitted by law.

                  (c)      Pledgor will furnish to Secured Party, upon the
         request of Secured Party: (i) a certificate executed by an authorized
         officer of Pledgor, and dated as of the date of delivery to Secured
         Party, itemizing in such detail as Secured Party may request in the
         exercise of Permitted Discretion, the Pledged Collateral which, as of
         the date of such certificate, has been delivered to Secured Party by
         Pledgor pursuant to the provisions of this Agreement; and (ii) such
         statements and schedules and supplements to statements and schedules
         further identifying and describing the Pledged Collateral and such
         other reports in connection with the Pledged Collateral as Secured
         Party may request in the exercise of Permitted Discretion, from time to
         time.

         7.       Covenants of Pledgor.  Pledgor shall:

                  (a)      Pledgor will use all commercially reasonable efforts
         to defend the Collateral against all claims and demands of all Persons
         at any time claiming any interest therein;

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                  (b)      Pledgor will not sell or offer to sell or otherwise
         assign, transfer or dispose of the Pledged Collateral or any interest
         therein, without the prior written consent of Secured Party;

                  (c)      Pledgor will keep the Collateral free from any
         adverse Lien, security interest or encumbrance except for Permitted
         Liens and such Liens as are set forth on Schedule D attached hereto;

                  (d)      At all times keep at least one complete set of
         records concerning substantially all of the Collateral at its Chief
         Executive Office as set forth in Schedule C hereto, and not change the
         location of its Chief Executive Office or such records without giving
         Secured Party at least thirty (30) days' prior written notice thereof;

                  (e)      Pledgor will promptly pay any and all taxes,
         assessments and governmental charges upon the Collateral prior to the
         date penalties are attached thereto, except in the case of Permitted
         Protests (as defined in the Loan Agreement);

                  (f)      To the extent it may lawfully do so, use all
         reasonable efforts to prevent the Issuers from issuing Future Rights or
         Proceeds, provided however, that this provision shall not apply to the
         Issuer's issuance of Future Rights or Proceeds as distributions for the
         payment of taxes, as permitted in the Loan Agreement;

                  (g)      Upon receipt by Pledgor of any material report, or
         other material communication from any of the Issuers or any Holder
         relating to an adverse event or occurrence with regard to all or any
         part of the Pledged Collateral, deliver such notice, report or other
         communication to Secured Party as soon as possible, but in no event
         later than five (5) Business Days following the receipt thereof by
         Pledgor; and

                  (h)      Not change the state of its organization and not
         change its limited liability company name without providing Secured
         Party with thirty (30) days' prior written notice.

         8.       Secured Party as Pledgor's Attorney-in-Fact.

                  (a)      Pledgor hereby irrevocably appoints Secured Party as
         Pledgor's attorney-in-fact, with full authority in the place and stead
         of Pledgor and in the name of Pledgor, Secured Party or otherwise, from
         time to time at Secured Party's discretion, to take any action and to
         execute any instrument that Secured Party may, in the exercise of
         Permitted Discretion, deem necessary or advisable to accomplish the
         purposes of this Agreement, including: (i) after the occurrence and
         during the continuance of an Event of Default, to receive, endorse, and
         collect all instruments made payable to Pledgor representing any
         dividend, interest payment or other distribution in respect of the
         Pledged Collateral or any part thereof to the extent permitted
         hereunder and to give full discharge for the same and to execute and
         file governmental notifications and reporting forms relating to such
         instruments; (ii) to issue any notifications/instructions Secured
         Party, in the exercise of Permitted Discretion, deems necessary
         pursuant to Section 3 of this Agreement; or (iii) during the
         continuance of an Event of Default, to arrange for the transfer of the

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         Pledged Collateral on the books of any of the Issuers or any other
         Person to the name of Secured Party or to the name of Secured Party's
         nominee.

                  (b)      In addition to the designation of Secured Party as
         Pledgor's attorney-in-fact in subsection (a), Pledgor hereby
         irrevocably appoints Secured Party as Pledgor's agent and
         attorney-in-fact during the continuance of an Event of Default, to
         make, execute and deliver any and all documents and writings which may
         be necessary or appropriate for approval of, or be required by, any
         regulatory authority located in any city, county, state or country
         where Pledgor or any of the Issuers engage in business, in order to
         transfer or to more effectively transfer any of the Pledged Shares or
         otherwise enforce Secured Party's rights hereunder.

         9.       Events of Default. The occurrence of any of the following
shall, at the option of Secured Party constitute an Event of Default:

                  (a)      Any default or Event of Default (as defined in the
         Loan Agreement) under the Loan Agreement or any of the Obligations;

                  (b)      Pledgor's failure to comply with any of the
         provisions of, or the incorrectness in any material respect of any
         representation or warranty contained in this Agreement;

                  (c)      Transfer or disposition of any of the Collateral in
         violation of the terms of this Agreement;

                  (d)      Attachment, execution or levy on any of the
         Collateral;

                  (e)      Secured Party shall receive at any time any
         information indicating that Secured Party's security interest in the
         Collateral is not prior to all other Liens.

         10.      Remedies upon Default. Upon the occurrence and during the
continuance of an Event of Default:

                  (a)      Secured Party may exercise in respect of the
         Collateral, in addition to other rights and remedies provided for
         herein or otherwise available to it, all the rights and remedies of a
         secured party on default under the Code (irrespective of whether the
         Code applies to the affected items of Collateral), and Secured Party
         may also without notice (except as specified below) sell the Collateral
         or any part thereof in one or more parcels at public or private sale,
         at any exchange, broker's board or at any of Secured Party's offices or
         elsewhere, for cash, on credit or for future delivery, at such time or
         times and at such price or prices and upon such other terms as Secured
         Party may, in the exercise of Permitted Discretion, deem commercially
         reasonable, irrespective of the impact of any such sales on the market
         price of the Collateral. To the maximum extent permitted by applicable
         law, Secured Party may be the purchaser of any or all of the Collateral
         at any such sale and shall be entitled, for the purpose of bidding and
         making settlement or payment of the purchase price for all or any
         portion of the Collateral sold at any such public sale, to use and
         apply all or any part of the Secured Obligations as a credit on account
         of the purchase price of any Collateral payable at such sale. Each

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         purchaser at any such sale shall hold the property sold absolutely free
         from any claim or right on the part of Pledgor, and Pledgor hereby
         waives (to the extent permitted by law) all rights of redemption, stay,
         or appraisal that it now has or may at any time in the future have
         under any rule of law or statute now existing or hereafter enacted.
         Pledgor agrees that, to the extent notice of sale shall be required by
         law, at least ten (10) calendar days' notice to Pledgor of the time and
         place of any public sale or the time after which a private sale is to
         be made shall constitute reasonable notification. Secured Party shall
         not be obligated to make any sale of Collateral regardless of notice of
         sale having been given. Secured Party may adjourn any public or private
         sale from time to time by announcement at the time and place fixed
         therefor, and such sale may, without further notice, be made at the
         time and place to which it was so adjourned. To the maximum extent
         permitted by law, Pledgor hereby waives any claims against Secured
         Party arising because the price at which any Collateral may have been
         sold at such a private sale was less than the price that might have
         been obtained at a public sale, even if Secured Party accepts the first
         offer received and does not offer such Collateral to more than one
         offeree.

                  (b)      Pledgor hereby acknowledges that the sale by Secured
         Party of any Collateral pursuant to the terms hereof in compliance with
         the Securities Act of 1933 as now in effect or as hereafter amended, or
         any similar statute hereafter adopted with similar purpose or effect
         (the "Securities Act"), as well as applicable "Blue Sky" or other state
         securities laws may require strict limitations as to the manner in
         which Secured Party or any subsequent transferee of the Collateral may
         dispose thereof. Pledgor acknowledges and agrees that in order to
         protect Secured Party's interest it may be necessary to sell the
         Collateral at a price less than the maximum price attainable if a sale
         were delayed or were made in another manner, such as a public offering
         under the Securities Act. Pledgor has no objection to sale in such a
         manner and agrees that such a sale shall not, solely by reason thereof,
         be deemed to be commercially unreasonable. Without limiting the
         generality of the foregoing, Pledgor agrees that, upon the occurrence
         and during the continuation of an Event of Default, Secured Party may,
         subject to applicable law, from time to time, attempt to sell all or
         any part of the Collateral by a private placement, restricting the
         bidders and prospective purchasers to those who will represent and
         agree that they are purchasing for investment only and not for
         distribution. In so doing, Secured Party may solicit offers to buy the
         Collateral or any part thereof for cash, from a limited number of
         investors deemed by Secured Party to be institutional investors or
         other responsible parties who might be interested in purchasing the
         Collateral. If Secured Party shall solicit such offers, then the
         acceptance by Secured Party of one of the offers shall be deemed to be
         a commercially reasonable method of disposition of the Collateral.

         Pledgor acknowledges that there is no adequate remedy at law for
failure by it to comply with the provisions of this Section and that such
failure would not be adequately compensable in damages, and therefore agrees
that its agreements contained in this Section may be specifically enforced.
Secured Party may comply with any applicable state or federal law requirements
in connection with a disposition of the Collateral and compliance will not be
considered adversely to affect the commercial reasonableness of any sale of the
Collateral.

SECURITY AND PLEDGE AGREEMENT-Page-11
-----------------------------
<PAGE>

         11.      Secured Party; Duties; Standard of Care. The powers conferred
on Secured Party hereunder are solely to protect its interests in the Collateral
and shall not impose on it any duty to exercise such powers. Except as provided
in ss.9207 of the Code, Secured Party shall have no duty as to the Collateral or
any responsibility for taking any necessary steps to preserve rights against any
Persons with respect to any Collateral.

         12.      Choice of Law. THE VALIDITY OF THIS AGREEMENT, ITS
CONSTRUCTION, INTERPRETATION AND ENFORCEMENT, AND THE RIGHTS OF THE PARTIES
HERETO, SHALL BE DETERMINED UNDER, GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH
THE INTERNAL LAWS OF THE STATE OF CALIFORNIA, EXCEPT TO THE EXTENT THAT THE
UNIFORM COMMERCIAL CODE OF CALIFORNIA PROVIDES FOR THE APPLICATION OF THE LAW OF
PLEDGOR'S STATE OF REGISTRATION.

         13.      Amendments; etc. No amendment or waiver of any provision of
this Agreement nor consent to any departure herefrom, shall in any event be
effective unless the same shall be in writing and signed by the parties hereto,
and then such waiver or consent shall be effective only in the specific instance
and for the specific purpose for which given. No failure on the part of any
party to exercise, and no delay in exercising any right under this Agreement,
the Loan Agreement, or otherwise with respect to any of the Secured Obligations,
shall operate as a waiver thereof; nor shall any single or partial exercise of
any right under this Agreement, the Loan Agreement, or otherwise with respect to
any of the Secured Obligations preclude any other or further exercise thereof or
the exercise of any other right. The remedies herein provided in this Agreement
or otherwise with respect to any of the Secured Obligations are cumulative and
not exclusive of any remedies provided by law.

14.      Notices. Unless otherwise provided in this Agreement or in the Loan
Agreement, all notices or demands by Secured Party or Pledgor to the other party
relating to this Agreement or any other Loan Document shall be in writing and
shall be personally delivered or sent by registered or certified mail (postage
prepaid, return receipt requested), overnight courier, electronic mail (at such
email addresses as Secured Party or Pledgor, as applicable, may designate to
each other in accordance herewith), or telefacsimile to its address set forth
below:

             If to Pledgor:         VELOCITY ASSET MANAGEMENT, INC.
                                    48 S. Franklin Turnpike
                                    Ramsey, NJ  07446
                                    Attn: John Kleinert
                                    Fax No.:  732-556-0365

             with copies to:        Ragan & Ragan, P.C.
                                    3100 Route 138 West
                                    Brinley Plaza, Bldg. One
                                    Wall, NJ  07719
                                    Attn:  W. Peter Ragan, Sr.
                                    Fax No.:  732-280-4108

SECURITY AND PLEDGE AGREEMENT-Page-12
-----------------------------
<PAGE>

             If to Lender:          WELLS FARGO FOOTHILL, INC.
                                    2450 Colorado Avenue
                                    Suite 3000 West
                                    Santa Monica, California  90404
                                    Attn: Lender Finance Division Manager
                                    Fax No. 310-453-7413

                                    WELLS FARGO FOOTHILL, INC.
                                    13727 Noel Road, Suite 1020
                                    Dallas, Texas  75240
                                    Attn: Loan Portfolio Manager--Velocity
                                           Investments
                                    Fax No. 972-387-5775

             with copies to:        Hughes & Luce, L.L.P.
                                    1717 Main Street, Suite 2800
                                    Dallas, TX  75230
                                    Attn:  Gary G. Null
                                    Fax No.: 214-939-5849

Secured Party or Pledgor may change the address at which they are to receive
notices hereunder, by notice in writing in the foregoing manner given to the
other party. All notices or demands sent in accordance with this Section 14,
other than notices by Secured Party in connection with enforcement rights
against the Collateral under the provisions of the Code, shall be deemed
received on the earlier of the date of actual receipt or 3 Business Days after
the deposit thereof in the mail. Pledgor acknowledges and agrees that notices
sent by Secured Party in connection with the exercise of enforcement rights
against the Collateral under the provisions of the Code shall be deemed sent
when deposited in the mail or personally delivered, or, where permitted by law,
transmitted by telefacsimile or any other method set forth above.

         15.      Continuing Security Interest. This Agreement shall create a
continuing security interest in the Collateral and shall: (i) remain in full
force and effect until the indefeasible payment in full of the Obligations,
including the cash collateralization, expiration, or cancellation of all
Obligations consisting of L/Cs, and the full and final termination of any
commitment to extend any financial accommodations under the Loan Agreement; (ii)
be binding upon Pledgor, its successors and assigns, and all persons who become
bound as a debtor to this Agreement; and (iii) inure to the benefit of Secured
Party and its Assignees. Upon the indefeasible payment in full of the
Obligations, including the cash collateralization, expiration or cancellation of
all Obligations consisting of L/Cs and the full and final termination of any
commitment to extend any financial accommodations under the Loan Agreement, the
security interests granted hereby shall automatically terminate and all rights
to the Collateral shall revert to Pledgor. Upon any such termination, Secured
Party will, at Pledgor's expense, return to Pledgor all certificates and other
evidences of Collateral, and execute and deliver to Pledgor such documents as
Pledgor shall reasonably request to evidence such termination. Such documents
shall be prepared by Pledgor and shall be in form and substance satisfactory to
Secured Party in the exercise of Permitted Discretion.

SECURITY AND PLEDGE AGREEMENT-Page-13
-----------------------------
<PAGE>

         16.      Security Interest Absolute. To the maximum extent permitted by
law, all rights of Secured Party and security interests hereunder, and all
obligations of the Pledgor hereunder, shall be absolute and unconditional
irrespective of:

                  (a)      any lack of validity or enforceability of any of the
         Secured Obligations or any other agreement or instrument relating
         thereto, including the Loan Agreement or any of the other Loan
         Documents;

                  (b)      any change in the time, manner or place of payment
         of, or in any other term of, all or any of the Secured Obligations, or
         any other amendment or waiver of or any consent to any departure from
         the Loan Agreement or any of the other Loan Documents, or any other
         agreement or instrument relating thereto;

                  (c)      any exchange, release or non-perfection of any other
         collateral, or any release or amendment or waiver of or consent to
         departure from any guaranty for all or any of the Secured Obligations;
         or

                  (d)      any other circumstances that might otherwise
         constitute a defense available to, or a discharge of, Pledgor.

To the maximum extent permitted by law, Pledgor hereby waives any right to
require Secured Party to pursue any other remedy in Secured Party's power
whatsoever. Pledgor waives any right it may have to require Secured Party to
pursue any third person for any of the Secured Obligations.

         17.      Headings. Section and subsection headings in this Agreement
are included herein for convenience of reference only and shall not constitute a
part of this Agreement or be given any substantive effect.

         18.      Severability. In case any provision in or obligation under
this Agreement shall be invalid, illegal or unenforceable in any jurisdiction,
the validity, legality and enforceability of the remaining provisions or
obligations, or of such provision or obligation in any other jurisdiction, shall
not in any way be affected or impaired thereby.

         19.      Counterparts. This Agreement may be executed in one or more
counterparts, each of which shall be deemed an original and all of which
together shall constitute one and the same Agreement.

         20.      Waiver of Marshaling. Each of Pledgor and Secured Party
acknowledges and agrees that in exercising any rights under or with respect to
the Collateral: (i) Secured Party is under no obligation to marshal any
collateral pledged to it; (ii) may, in its absolute discretion, realize upon
such Collateral in any order and in any manner it so elects; and (iii) Secured
Party will apply the proceeds of any or all of such Collateral to the
obligations secured by the Collateral in the order and manner provided in the
Loan Agreement. Pledgor and Secured Party waive any right to require the
marshaling of any of the Collateral, including any right pursuant to ss.ss.2899
and 3433 of the California Civil Code.

SECURITY AND PLEDGE AGREEMENT-Page-14
-----------------------------
<PAGE>

         21.      Waiver of Jury Trial. PLEDGOR AND SECURED PARTY HEREBY WAIVE
THEIR RESPECTIVE RIGHTS TO A JURY TRIAL OF ANY CLAIM OR CAUSE OF ACTION BASED
UPON OR ARISING OUT OF ANY OF THIS AGREEMENT OR ANY OF THE TRANSACTIONS
CONTEMPLATED HEREIN, INCLUDING CONTRACT CLAIMS, TORT CLAIMS, BREACH OF DUTY
CLAIMS, AND ALL OTHER COMMON LAW OR STATUTORY CLAIMS. PLEDGOR AND SECURED PARTY
REPRESENT THAT EACH HAS REVIEWED THIS WAIVER AND EACH KNOWINGLY AND VOLUNTARILY
WAIVES ITS JURY TRIAL RIGHTS FOLLOWING CONSULTATION WITH LEGAL COUNSEL. IN THE
EVENT OF LITIGATION, A COPY OF THIS AGREEMENT MAY BE FILED AS A WRITTEN CONSENT
TO A TRIAL BY THE COURT.

                  [Remainder of page intentionally left blank.]

SECURITY AND PLEDGE AGREEMENT-Page-15
-----------------------------
<PAGE>

         IN WITNESS WHEREOF, Pledgor and Secured Party have caused this
Agreement to be duly executed and delivered by their officers thereunto duly
authorized as of the date first above written.

VELOCITY ASSET MANAGEMENT, INC.,
a Delaware corporation

By: /s/ JOHN C. KLEINERT
    -----------------------------------
Name:   John C. Kleinert
      ---------------------------------
Title:  President and CEO
       --------------------------------

WELLS FARGO FOOTHILL, INC.,
a California corporation

By: /s/ RYAN WATSON
    -----------------------------------
Name:   Ryan Watson
      ---------------------------------
Title:  Assistant Vice President
       --------------------------------

SECURITY AND PLEDGE AGREEMENT-Signature Page
-----------------------------
<PAGE>

                                   SCHEDULE A
                                   ----------

                                       TO

                          SECURITY AND PLEDGE AGREEMENT
                          -----------------------------

                             COMMERCIAL TORT CLAIMS
                             ----------------------

                                     -None-

Schedule A Page-1
----------
<PAGE>

                                   SCHEDULE B
                                   ----------

                                       TO

                          SECURITY AND PLEDGE AGREEMENT
                          -----------------------------

                                 Pledged Shares
                                 --------------

<TABLE>
<CAPTION>

---------------------------------------------------------------------------------------------------------------------------
                                       NUMBER OF
                                       ---------
         ISSUER         ORGANIZED       SHARES/       CLASS       CERTIFICATE                OWNER               PERCENTAGE
         ------         ---------       -------       -----       -----------                -----               ----------
                            IN           UNITS                     NUMBER(S)                                       OWNED
                            --           -----                     ---------                                       -----
---------------------------------------------------------------------------------------------------------------------------
<S>                     <C>                         <C>                            <C>                              <C>
TLOP ACQUISITION        New Jersey                  Membership                     Velocity Asset Management,       100%
COMPANY, L.L.C.                                      Interest                      Inc.
---------------------------------------------------------------------------------------------------------------------------
</TABLE>

Schedule B Page-1
----------
<PAGE>

                                   SCHEDULE C
                                   ----------

                                       TO

                          SECURITY AND PLEDGE AGREEMENT
                          -----------------------------

Address of Chief Executive Office of Pledgor:

                  48 S. Franklin Turnpike
                  Ramsey, New Jersey 07446

Schedule C Page-1
----------
<PAGE>

                                   SCHEDULE D
                                   ----------

                                       TO

                          SECURITY AND PLEDGE AGREEMENT
                          -----------------------------

                                 Permitted Liens
                                 ---------------

                                      NONE

Schedule D Page-1
----------
<PAGE>

                                   SCHEDULE E
                                   ----------

                                       TO

                          SECURITY AND PLEDGE AGREEMENT
                          -----------------------------

                       Existing Future Rights and Proceeds
                       -----------------------------------

None

Schedule E Page-1
----------EXHIBIT 4.4
                                                                     -----------

                             SUBORDINATION AGREEMENT
                             -----------------------

         THIS SUBORDINATION AGREEMENT (this "Agreement") dated as of January 27,
2005, by and among:

         VELOCITY ASSET MANAGEMENT, INC., a Delaware Corporation, and TLOP
ACQUISITION COMPANY, LLC, a New Jersey limited liability company (collectively,
the "Subordinated Creditor"), VELOCITY INVESTMENTS, L.L.C., a New Jersey limited
liability company, as borrower (the "Borrower"), and WELLS FARGO FOOTHILL, INC.,
a California corporation ("Lender"), which is the Lender under that certain Loan
and Security Agreement of even date herewith, by and between Lender and Borrower
(as the same may be amended, restated, renewed, replaced, supplemented, extended
or otherwise modified from time to time, the "Loan Agreement").

                        W I T N E S S E T H   T H A T:

         In order to induce Lender to make or continue to make financial
accommodations to Borrower provided for in the Loan Agreement and for other good
and valuable consideration, the receipt and adequacy of which are hereby
acknowledged, Borrower and Subordinated Creditor hereby agree with Lender that,
so long as any Senior Indebtedness (as hereinafter defined) is outstanding or
Lender's commitment to make Advances under the Loan Agreement remains, each such
party will comply with such of the following provisions as are applicable to it.

         1.       Certain Definitions.

         1.1      Insolvency Proceeding. The term "Insolvency Proceeding" shall
mean any voluntary or involuntary dissolution, winding-up, total or partial
liquidation, reorganization or bankruptcy, insolvency, receivership or other
statutory or common law proceedings or arrangements involving Borrower or
Subordinated Creditor, or the readjustment of the liabilities of Borrower or
Subordinated Creditor or any assignment for the benefit of creditors or any
marshalling of the assets or liabilities of Borrower or Subordinated Creditor .

         1.2      Senior Indebtedness. The term "Senior Indebtedness" shall mean
any and all loans, advances, extensions of credit to, and all other
indebtedness, obligations and liabilities, now existing or hereafter arising,
direct or contingent, of Subordinated Creditor or Borrower now or hereafter
owing to Lender, outstanding from time to time, whether pursuant to the Loan
Agreement, the Guaranty executed by either Subordinated Creditor or otherwise
and any and all indebtedness to Lender in respect of any and all future loans or
advances or extensions of credit made to Subordinated Creditor or Borrower by
Lender, prior to, during or following any proceeding in respect of any
Insolvency Proceeding, together with interest thereon and all fees, expenses and
other amounts (including costs of collection and reasonable attorneys' fees) at
any time owing to Lender, whether arising in connection with the Loan Agreement,
the Guaranty or such other indebtedness (regardless of the extent to which the
Loan Agreement, the Guaranty or such other indebtedness is enforceable against
Subordinated Creditor or Borrower and regardless of the extent to which such
amounts are allowed as claims against Subordinated Creditor or Borrower in any

SUBORDINATION AGREEMENT - Page 1
-----------------------
<PAGE>

Insolvency Proceeding, and including any interest thereon accruing after the
commencement of any Insolvency Proceeding and any other interest that would have
accrued thereon but for the commencement of such Insolvency Proceeding),
provided, however, post-petition interest shall be included in Senior
Indebtedness only to the extent allowed by the Bankruptcy Court. All Senior
Indebtedness shall be entitled to the benefits of this Agreement without notice
thereof being given to the Subordinated Creditor.

         1.3      Subordinated Indebtedness. The term "Subordinated
Indebtedness" shall mean all sums owing to Subordinated Creditor by Borrower for
advances or loans made or property transferred to Borrower, now owed or
hereafter arising, and all claims, rights, causes of action, judgments and
decrees in respect of the foregoing, but only to the extent that such sums, when
added to Borrower's member's equity do not exceed $3,250,000.

         1.4      Other Capitalized Terms. Except as otherwise specified herein,
capitalized terms used in this Agreement which are defined in the Loan Agreement
have the same meanings herein as therein.

         2.       Representations and Warranties. The Subordinated Creditor
hereby represents and warrants to the Lender that:

                  (a)      As of the date hereof, the aggregate outstanding and
         unpaid Subordinated Indebtedness owing by Borrower to Subordinated
         Creditor is described on Exhibit A attached hereto.

                  (b)      There is no default in respect of the Subordinated
         Indebtedness.

         3.       Terms of Subordination.

         3.1      No Transfer. The Subordinated Creditor shall not sell or
otherwise dispose of any of the Subordinated Indebtedness except with the prior
written consent of Lender and except to a person who agrees in advance in
writing, pursuant to an agreement in form acceptable to Lender, to become a
party hereto. Subordinated Creditor shall give Lender at least thirty (30) days'
prior written notice of any such proposed transfer stating the identity of the
transferee and providing such other information as Lender shall require.

         3.2      Payment Subordinated. Anything in the instruments or
agreements evidencing Subordinated Indebtedness to the contrary notwithstanding,
the payment of the Subordinated Indebtedness is and shall be expressly
subordinate and junior in right of payment and exercise of remedies to the prior
indefeasible payment in full in cash of the Senior Indebtedness to the extent
and in the manner provided herein, and the Subordinated Indebtedness is hereby
subordinated as a claim against Borrower or any of the assets of, or ownership
interests in, Borrower whether such claim be (a) in the event of any
distribution of the assets of Borrower upon any Insolvency Proceeding, or (b)
other than in connection with an Insolvency Proceeding, to the prior
indefeasible payment in full in cash of the Senior Indebtedness. In furtherance
of the foregoing, except as expressly permitted by the Loan Agreement or this
Subordination Agreement or unless Lender shall otherwise consent in writing,
Borrower will not make, and Subordinated Creditor will not accept or receive,
any payment of Subordinated Indebtedness until all the Senior Indebtedness has

SUBORDINATION AGREEMENT - Page 2
-----------------------
<PAGE>

been indefeasibly paid in full in cash and Lender's commitment to make Advances
under the Loan Agreement has terminated.

         3.3      Distributions in Insolvency Proceeding. In the event of any
Insolvency Proceeding relative to Borrower or Subordinated Creditor or such
party's property, all of the Senior Indebtedness owed by Borrower or
Subordinated Creditor shall first be indefeasibly paid in full in cash before
any payment on account of principal, premium or interest or otherwise is made
upon or in respect of the Subordinated Indebtedness, and in any such proceedings
any payment or distribution of any kind or character, whether in cash or
property or securities which may be payable or deliverable in respect of the
Subordinated Indebtedness shall be paid or delivered directly to the Lender for
application in payment of the Senior Indebtedness, unless and until all such
Senior Indebtedness shall have been indefeasibly paid and satisfied in full in
cash. In the event that, notwithstanding the foregoing, upon any such Insolvency
Proceeding, any payment or distribution of assets of Borrower of any kind or
character, whether in cash, property or securities, shall be received by a
holder of any of the Subordinated Indebtedness before all Senior Indebtedness is
indefeasibly paid in full in cash, such payment or distribution shall be
immediately paid over to the holder of the Senior Indebtedness, for application
to the payment of all Senior Indebtedness remaining unpaid until all such Senior
Indebtedness shall have been indefeasibly paid in full in cash, after giving
effect to any concurrent payment or distribution to the holder of such Senior
Indebtedness.

         3.4      Attorneys-in-Fact, Proof and Voting of Claims.

         (a)      Attorneys-in-Fact. Subordinated Creditor, for itself and its
heirs, representatives, successors and assigns, hereby irrevocably authorizes
and directs Lender, and any trustee in bankruptcy, receiver, custodian or
assignee for the benefit of creditors of Borrower in any Insolvency Proceeding,
on its behalf, to take such action as may be necessary or appropriate to
effectuate the subordination provided for in this Agreement and irrevocably
appoints, which appointment is coupled with an interest, upon any default under
the Loan Agreement and during the continuance thereof or any failure to comply
with the terms of this Agreement, Lender, or any such trustee, receiver,
custodian or assignee, its attorneys-in-fact for such purpose with full powers
of substitution and revocation.

         (b)      Proof and Vote of Claims. Subordinated Creditor hereby
irrevocably appoints, which appointment is irrevocable and coupled with an
interest, Lender as Subordinated Creditor's true and lawful attorney, with full
power of substitution, in the name of Subordinated Creditor, Lender or
otherwise, for the sole use and benefit of Lender, to the extent permitted by
law, to prove and vote all claims relating to the Subordinated Indebtedness,
either in the name of Lender or in the name of Subordinated Creditor by proof of
debt, proof of claim, suit or otherwise, to collect any assets of Borrower and
to receive and collect all distributions, securities, property and payments to
which Subordinated Creditor would be otherwise entitled on any liquidation of
Borrower or any of its property or in any proceeding affecting Borrower or its
property under any bankruptcy or insolvency laws or any laws or proceedings
relating to the relief of Borrower readjustment, composition or extension of
indebtedness or reorganization. In no event shall Lender be liable to
Subordinated Creditor for any failure to prove the Subordinated Indebtedness, to
exercise any right with respect thereto or to collect any sums payable thereon.

SUBORDINATION AGREEMENT - Page 3
-----------------------
<PAGE>

         (c)      No Interference. In addition, Subordinated Creditor agrees
that to the extent Subordinated Creditor holds any Subordinated Indebtedness at
the relevant time, it will not take any action as the holder of any such
Subordinated Indebtedness that will impede, interfere with or restrict or
restrain the exercise by Lender of rights and remedies under the Loan Documents
and, upon the commencement of any Insolvency Proceeding, will take such
commercially reasonable actions as the holder of any such Subordinated
Indebtedness as may be reasonably necessary or appropriate to effectuate the
subordination provided hereby. In furtherance thereof, Subordinated Creditor, in
its capacity as a holder of Subordinated Indebtedness, hereby agrees not to
oppose any motion filed or supported by Lender for relief from stay or for
adequate protection in respect of the Senior Indebtedness and not to oppose any
motions supported by Lender for Borrower's use of cash collateral or
post-petition borrowing from Lender.

         3.5      Effect of Provisions. The provisions hereof as to
subordination are solely for the purpose of defining the relative rights of the
holders of Senior Indebtedness on the one hand, and the holders of the
Subordinated Indebtedness on the other hand, and none of such provisions shall
impair, as between Borrower and the holders of its Subordinated Indebtedness,
the obligations of Borrower, which are unconditional and absolute, to pay to
such holders all of the Subordinated Indebtedness in accordance with the terms
thereof, nor, except as provided in Section 7 below, shall any such provisions
prevent the holders of Subordinated Indebtedness from exercising all remedies
otherwise permitted by applicable law or under the terms of such Subordinated
Indebtedness upon a default thereunder, subject to the rights, if any, of the
holders of Senior Indebtedness under the foregoing provisions of this Agreement.

         3.6      Subrogation, Etc. Subordinated Creditor hereby subordinates to
the Senior Indebtedness all rights to be subrogated to the rights of the holders
of the Senior Indebtedness in respect of payments or distributions of assets of,
or ownership interests in, Borrower made on the Senior Indebtedness.

         3.7      No Payments of Subordinated Debt. Borrower may not, without
the prior written consent of Lender, pay or cause to be paid to the Subordinated
Creditor, and the Subordinated Creditor may not accept nor retain, payments of
principal and interest or other sums owing to Subordinated Creditor on account
of any Subordinated Debt.

         4.       Agreement to Hold in Trust. If Subordinated Creditor shall
receive any payment on account of the Subordinated Indebtedness in violation of
this Agreement, it shall hold such payment in trust for the benefit of the
holders of the Senior Indebtedness and, promptly upon discovery or notice of
such violation, pay it over to Lender on behalf of such holder for application
in payment of the Senior Indebtedness.

         5.       Amendments to Subordinated Agreements/Additional Liens on
Collateral. Subordinated Creditor covenants and agrees that, unless Lender
otherwise consents thereto in writing, it will not obtain liens on or security
interests in any assets of Borrower as security for the Subordinated
Indebtedness, and that to the extent any such liens or security interests are
created on or in any assets of Borrower (by operation of law or otherwise), all

SUBORDINATION AGREEMENT - Page 4
-----------------------
<PAGE>

such liens and security interests shall be fully subordinated and junior to the
liens on and security interests in the assets of Borrower in favor of Lender.

         6.       Evidences of Subordinated Indebtedness/Legend. Subordinated
Creditor, for itself and its heirs, representatives, successors and assigns as
holders of Subordinated Indebtedness, covenants to cause each agreement and
instrument representing or evidencing any of the Subordinated Indebtedness
issued or executed by Borrower and held by Subordinated Creditor to have affixed
upon it a legend which reads substantially as follows:

         "THIS INSTRUMENT IS SUBJECT TO A SUBORDINATION AGREEMENT DATED AS OF
         JANUARY 27, 2005, AMONG VELOCITY INVESTMENTS, L.L.C., VELOCITY ASSET
         MANAGEMENT, INC., and WELLS FARGO FOOTHILL, INC. BY ITS ACCEPTANCE OF
         THIS INSTRUMENT, THE HOLDER HEREOF AGREES TO BE BOUND BY THE PROVISIONS
         OF SUCH SUBORDINATION AGREEMENT TO THE SAME EXTENT THAT EACH
         SUBORDINATED CREDITOR (AS DEFINED THEREIN) IS BOUND."

Subordinated Creditor hereby further covenants and agrees to pledge and deliver
to Lender any and all promissory notes or other negotiable instruments
evidencing Subordinated Indebtedness and to assign and deliver to Lender any and
all collateral therefor as security for such Subordinated Creditor's obligations
under this Agreement.

         7.       Limit on Right of Action. Subordinated Creditor, for itself
and its heirs, representatives, successors and assigns, agrees for the benefit
of the holders of the Senior Indebtedness that, except as otherwise provided in
the Loan Agreement, so long as the Senior Indebtedness remains outstanding or
Lender's commitment to make Advances under the Loan Agreement remains,
Subordinated Creditor will not, directly or indirectly, take any action to
accelerate or demand payment by Borrower of Subordinated Indebtedness, to
exercise any of its remedies in respect of Subordinated Indebtedness, to
initiate any Insolvency Proceeding of, or litigation against, Borrower, or to
foreclose or otherwise realize on any security given by Borrower or any other
person to secure Subordinated Indebtedness prior to the payment in full in cash
of the Senior Indebtedness. The foregoing provisions of this Section 7 are
solely for the purpose of defining the relative rights of the holders of Senior
Indebtedness on the one hand and the holders of the Subordinated Indebtedness on
the other and shall not otherwise limit or affect any rights which the holders
of Subordinated Indebtedness may have against Borrower under the terms of the
agreements evidencing Subordinated Indebtedness.

         8.       Marshaling. Subordinated Creditor, for itself and its heirs,
representatives, successors and assigns, hereby expressly waives any right that
it otherwise might have to require the holders of Senior Indebtedness to marshal
any of the property of Borrower, to resort to any collateral in any particular
order or manner, whether provided for by common law or statute, or to enforce
any guaranty or any Lien given by Borrower as a condition precedent or
concurrent to the exercise of any of their remedies.

         9.       Additional Rights of Lender. If Subordinated Creditor, in
violation of this Agreement, shall commence, prosecute or participate in any
suit, action or proceeding against Borrower, Borrower may interpose as a defense

SUBORDINATION AGREEMENT - Page 5
-----------------------
<PAGE>

or plea the making of this Agreement and Lender may intervene and interpose such
defense or plea in Lender's name or in the name of Borrower. If Subordinated
Creditor obtains any assets of Borrower as a result of any administrative, legal
or equitable action, or otherwise, Subordinated Creditor agrees forthwith to
pay, deliver and assign to Lender any such assets for application to the Senior
Indebtedness.

         10.      Borrower's and Subordinated Creditor's Additional Agreement.
Borrower agrees with Lender that it will not, without Lender's prior written
consent, execute or deliver any negotiable or non-negotiable instrument as
evidence of the Subordinated Indebtedness or any part thereof, except as
otherwise permitted by this Agreement and the Loan Agreement.

         11.      Subsequent Changes. Subordinated Creditor expressly agrees
that Lender may, in its sole and absolute discretion, without notice to or
further assent of Subordinated Creditor and without in any way releasing,
affecting or impairing the obligations and liabilities of such Subordinated
Creditor hereunder: (i) waive compliance with, or any default under, or grant
any other indulgences with respect to, the Loan Documents (including, without
limitation, any waiver of a condition to an Advance); (ii) modify, amend or
change any provisions of the Loan Documents (including, without limitation, any
changes to the interest rates, payment schedules or maximum amount of the Senior
Indebtedness); (iii) grant extensions or renewals of or with respect to the Loan
Documents, and/or effect any release, compromise or settlement in connection
therewith; (iv) agree to the substitution, exchange, release or other
disposition of Borrower, any guarantor or other obligor of the Senior
Indebtedness or of all or any part of the collateral securing the Senior
Indebtedness (whether or not anything or any amount is received in return
therefor); (v) make advances for the purpose of performing any term or covenant
contained in the Loan Documents, with respect to which Borrower shall be in
default; (vi) assign or otherwise transfer the Loan Documents, including,
without limitation, this Agreement, or any interest therein; and (vii) deal in
all respects with Borrower, the Senior Indebtedness or any Collateral or
guaranty securing the Senior Indebtedness as if this Agreement were not in
effect. The obligations of Subordinated Creditor under this Agreement shall be
absolute and unconditional, irrespective of the genuineness, validity,
regularity, enforceability or priority of the Loan Documents or any other
circumstances which might otherwise constitute a legal or equitable discharge of
a surety or Subordinated Creditor. No exercise or nonexercise by Lender of any
right given to it hereunder or under the Loan Documents, and no change,
impairment or suspension of any right or remedy of Lender, shall in any way
affect any of the Subordinated Creditor's obligations hereunder or give
Subordinated Creditor any recourse against Lender. No right of any current or
future holder of any Senior Indebtedness to enforce subordination as provided
herein shall at any time in any way be prejudiced or impaired by any act or
failure to act on the part of Borrower; by any act or failure to act by any such
holder, by any act or failure to act by any other holder of the Senior
Indebtedness, or by any noncompliance by Borrower with the terms hereof,
regardless of any knowledge thereof which any such holder may have or otherwise
be charged with.

         12.      Waivers. Subordinated Creditor hereby expressly waives, in its
capacity as Subordinated Creditor herein,: (i) notice of acceptance of this
Agreement; (ii) notice of any default hereunder or under the Loan Documents and
of all indulgences; (iii) demand for observance or performance of, or
enforcement of, any terms or provisions of this Agreement or the Loan Documents;

SUBORDINATION AGREEMENT - Page 6
-----------------------
<PAGE>

(iv) notice of extensions of credit by Lender to Borrower and of any change in
the rate at which interest accrues under the Loan Documents; (v) all other
notices and demands otherwise required by law which such Subordinated Creditor
may lawfully waive; (vi) the right to assert in any action or proceeding
hereupon any setoff, counterclaim or other claim which it may have against
Lender; (vii) all rights of subrogation, reimbursement or contribution against
Borrower which might otherwise arise by reason of Subordinated Creditor's
execution or performance of this Agreement; (viii) all rights (statutory or
otherwise) that require Lender to make an election of remedies where Lender
holds security interests and liens on both the real and personal property of
Borrower, any guarantor of or any other obligor on the Senior Indebtedness or to
take recourse first or solely against any particular collateral securing the
Loan Agreement or the other Loan Documents; (ix) all rights (statutory or
otherwise) that restrict, affect or impair the rights or remedies of Lender to
collect any deficiency after the application to the Obligations of any proceeds
arising from the foreclosure of the Loan Documents; (x) any defense based on the
adequacy of a remedy at law which might be asserted as a bar to the remedy of
specific performance of this Agreement in any action brought therefor by any
party hereto, and (x) so long as this Agreement remains in effect, the benefit
of all other principles or provisions of law, statutory or otherwise, which are
or might be in conflict with the terms hereof.

         13.      Indulgences Not Waivers. Neither the failure nor any delay on
the part of Lender to exercise any right, remedy, power or privilege hereunder
shall operate as a waiver thereof or give rise to an estoppel, nor be construed
as an agreement to modify the terms of this Agreement, nor shall any single or
partial exercise of any right, remedy, power or privilege with respect to any
occurrence be construed as a waiver of such right, remedy, power or privilege
with respect to any other occurrence. No waiver by a party hereunder shall be
effective unless it is in writing and signed by the party making such waiver,
and then only to the extent specifically stated in such writing.

         14.      Successors; Continuing Effect, Etc. This Agreement is being
entered into for the benefit of the Lender and the holders of the Senior
Indebtedness and the Subordinated Indebtedness, and their respective heirs,
representatives, successors and assigns. This Agreement shall be a continuing
agreement and shall be irrevocable and shall remain in full force and effect so
long as there are both Senior Indebtedness and Subordinated Indebtedness
outstanding or Lender's commitment to make Advances under the Loan Agreement
remains. The liability of each of the Subordinated Creditors hereunder shall be
reinstated and revived, and the rights of the holders of the Senior Indebtedness
shall continue, with respect to any amount at any time paid on account of the
Senior Indebtedness which shall thereafter be required to be restored or
returned by the holders of the Senior Indebtedness in any Insolvency Proceeding
(including, without limitation, any repayment made pursuant to any provision of
Chapter 5 of Title 11, United States Code) or otherwise, all as though such
amount had not been paid.

         15.      Entire Agreement; Amendment. This Agreement constitutes the
entire agreement of the parties with respect to the subject matter hereof, and
no modification or waiver of any provision of this Agreement shall in any event
be effective unless the same shall be in writing signed by Lender, Borrower, and
the Subordinated Creditor.

SUBORDINATION AGREEMENT - Page 7
-----------------------
<PAGE>

         16.      Miscellaneous. This Agreement, which may be executed in any
number of counterparts, shall take effect as a sealed instrument and shall be
governed by and construed in accordance with the laws of the State of California
applicable to contracts made and performed in said State. The headings in this
Agreement are for convenience of reference only and shall not alter or otherwise
affect the meaning hereof.

         17.      CONSENT TO JURISDICTION; WAIVER OF JURY TRIAL.

         (a)      EACH OF THE BORROWER, SUBORDINATED CREDITOR, AND THE LENDER,
TO THE EXTENT THAT EACH MAY LAWFULLY DO SO, HEREBY CONSENTS TO THE EXCLUSIVE
JURISDICTION OF THE COURTS OF THE STATE OF CALIFORNIA AND THE UNITED STATES
DISTRICT COURT LOCATED IN LOS ANGELES COUNTY, CALIFORNIA, AS WELL AS TO THE
JURISDICTION OF ALL COURTS TO WHICH AN APPEAL MAY BE TAKEN FROM SUCH COURTS, FOR
THE PURPOSE OF ANY SUIT, ACTION OR OTHER PROCEEDING ARISING OUT OF ANY OF ITS
OBLIGATIONS ARISING HEREUNDER OR UNDER THE LOAN DOCUMENTS OR WITH RESPECT TO THE
TRANSACTIONS CONTEMPLATED HEREBY, AND EXPRESSLY, KNOWINGLY, VOLUNTARILY,
INTENTIONALLY AND IRREVOCABLY, WAIVES ANY AND ALL OBJECTIONS IT MAY HAVE AS TO
VENUE, INCLUDING, WITHOUT LIMITATION, THE INCONVENIENCE OF SUCH FORUM, IN ANY OF
SUCH COURTS. IN ADDITION, TO THE EXTENT THAT IT MAY LAWFULLY DO SO, SUBORDINATED
CREDITOR CONSENTS TO THE SERVICE OF PROCESS BY PERSONAL SERVICE OR U.S.
CERTIFIED OR REGISTERED MAIL, RETURN RECEIPT REQUESTED, ADDRESSED TO THE PARTIES
AT THE ADDRESSES PROVIDED HEREIN. TO THE EXTENT THAT SUBORDINATED CREDITOR HAS
OR HEREAFTER MAY ACQUIRE ANY IMMUNITY FROM JURISDICTION OF ANY COURT OR FROM ANY
LEGAL PROCESS (WHETHER THROUGH SERVICE OR NOTICE, ATTACHMENT PRIOR TO JUDGMENT,
ATTACHMENT IN AID OF EXECUTION OR OTHERWISE) WITH RESPECT TO ITSELF OR ITS
PROPERTY, SUBORDINATED CREDITOR HEREBY KNOWINGLY, VOLUNTARILY, INTENTIONALLY AND
IRREVOCABLY WAIVES SUCH IMMUNITY IN RESPECT OF ITS OBLIGATIONS UNDER THIS
AGREEMENT AND THE OTHER LOAN DOCUMENTS TO THE MAXIMUM EXTENT PERMITTED BY LAW.

         (b)      WAIVER OF JURY TRIAL. EACH OF THE BORROWER, SUBORDINATED
CREDITOR, AND THE LENDER HEREBY VOLUNTARILY, KNOWINGLY, INTENTIONALLY AND
IRREVOCABLY WAIVES TRIAL BY JURY IN RESPECT OF ANY ACTION BROUGHT ON, ARISING
OUT OF, UNDER OR IN CONNECTION WITH THIS AGREEMENT, ANY LOAN DOCUMENT OR ANY
COURSE OF CONDUCT, COURSE OF DEALINGS, STATEMENTS (WHETHER VERBAL OR WRITTEN) OR
ACTIONS OF ANY PARTY, INCLUDING, WITHOUT LIMITATION, ANY COURSE OF CONDUCT,
COURSE OF DEALINGS, STATEMENTS OR ACTIONS OF LENDER RELATING TO THE
ADMINISTRATION OF THE FINANCING UNDER THE LOAN DOCUMENTS OR THE ENFORCEMENT OF
THE LOAN DOCUMENTS, AND AGREES THAT NONE OF THE PARTIES WILL SEEK TO CONSOLIDATE

SUBORDINATION AGREEMENT - Page 8
-----------------------
<PAGE>

ANY SUCH ACTION WITH ANY OTHER ACTION IN WHICH A JURY TRIAL CANNOT BE OR HAS NOT
BEEN WAIVED. EXCEPT AS PROHIBITED BY LAW, SUBORDINATED CREDITOR HEREBY
KNOWINGLY, INTENTIONALLY, VOLUNTARILY AND IRREVOCABLY WAIVES ANY RIGHT IT MAY
HAVE TO CLAIM OR RECOVER IN ANY LITIGATION ANY SPECIAL, EXEMPLARY, PUNITIVE OR
CONSEQUENTIAL DAMAGES OR ANY DAMAGES OTHER THAN, OR IN ADDITION TO, ACTUAL
DAMAGES. SUBORDINATED CREDITOR CERTIFIES THAT NO REPRESENTATIVE, AGENT OR
ATTORNEY OF LENDER HAS REPRESENTED, EXPRESSLY OR OTHERWISE, THAT LENDER WOULD
NOT, IN THE EVENT OF LITIGATION, SEEK TO ENFORCE THE FOREGOING WAIVER. THIS
WAIVER CONSTITUTES A MATERIAL INDUCEMENT FOR LENDER TO MAKE THE ADVANCES.

         18.      Notices. All notices, requests, demands and other
communications provided for hereunder shall be in writing (including telecopied
communication) and mailed or telecopied or delivered to the applicable party at
the addresses indicated below.

         If to Lender:

                  Wells Fargo Foothill, Inc.
                  2450 S. Colorado Ave.
                  Suite 3000 West
                  Santa Monica, California  90404
                  Attention:  Lender Finance Division Manager
                  Telecopy No.:  (310) 453-7413

         and

                  Wells Fargo Foothill, Inc.
                  13727 Noel Road
                  Suite 1020
                  Dallas, Texas  75240
                  Attention:  Loan Portfolio Manager - Velocity Investments
                  Telecopy No.:  (972) 387-5775

         with a copy (which shall not constitute notice) to:

                  Hughes & Luce, LLP
                  1717 Main Street
                  Suite 2800
                  Dallas, Texas  75201
                  Attention:  Gary G. Null
                  Telecopy No.:  (214) 939-5849

SUBORDINATION AGREEMENT - Page 9
-----------------------
<PAGE>

         If to Borrower or to Subordinated Creditor, to:

                  3100 Route 138 West
                  Brinley Plaza, Building 1
                  Wall, New Jersey  07719
                  Attention:  James J. Mastriani
                  Telecopy No.: 732-556-0365

         with a copy to:

                  Ragan & Ragan PC
                  3100 Route 138 West
                  Brinley Plaza, Building 1
                  Wall, NJ 07719
                  Attention:  W. Peter Ragan, Sr.
                  Telecopy No.:  732-280-4108

or, as to each party, at such other address as shall be designated by such party
in a written notice to the other parties complying as to delivery with the terms
of this Section. All such notices, requests, demands and other communication
shall be deemed given upon receipt by the party to whom such notice is directed.

         19.      Covenant Not to Challenge. This Agreement has been negotiated
by the parties with the expectation and in reliance upon the assumption that the
instruments and documents evidencing the Senior Indebtedness and the
Subordinated Indebtedness are valid and enforceable. In determining whether to
enter into this Agreement, the Subordinated Creditor, on the one hand, and the
Lender, on the other hand, have assumed such validity and enforceability, and
have agreed to the provisions contained herein, without relying upon any
reservation of a right to challenge or call into question such validity or
enforceability. As between the Subordinated Creditor, on the one hand, and the
Lender, on the other hand, such parties hereby covenant and agree, to the
fullest extent permitted by law, that neither the Lender nor the Subordinated
Creditor shall initiate in any proceeding a challenge to the validity or
enforceability of the documents and instruments evidencing the Senior
Indebtedness or the Subordinated Indebtedness, as applicable.

         20.      Independent Credit Investigations. Subordinated Creditor, the
Lender, and their respective directors, officers, agents, or employees, shall
not be responsible to the other for Borrower's solvency, creditworthiness,
financial condition, or ability to repay any of its claims or for the accuracy
of any recitals, statements, representations, or warranties of Borrower, oral or
written, or for the validity, sufficiency, enforceability, or perfection of its
claims or its respective loan documents, or any security interests or liens
granted by Borrower to any claimant in connection therewith. Each claimant has
entered into its respective financing agreements with Borrower based upon his or
its own independent investigation, and makes no warranty or representation to
the other claimant, nor does he or it rely upon any representation of the other
claimant with respect to matters identified or referred to in this paragraph.

SUBORDINATION AGREEMENT - Page 10
-----------------------
<PAGE>

         21.      Reinstatement. The obligations of Subordinated Creditor under
this Agreement shall continue to be effective, or be reinstated, as the case may
be, if at any time all or any part of any payment in respect of any Senior
Indebtedness is rescinded or must otherwise be restored or returned directly or
indirectly by Lender as a preference, fraudulent transfer or otherwise (whether
by demand, settlement, litigation or otherwise), by reason of any bankruptcy,
reorganization, arrangement, composition or similar proceeding or as a result of
the appointment of a receiver, intervener or conservator of, or trustee or
similar officer for, the Borrower or Guarantor or any substantial part of any of
their property, or otherwise, all as though such payment had not been made and
such rescinded or returned payments shall constitute Senior Indebtedness for all
purposes hereunder.

         22.      Effect of Bankruptcy/Additional Financing. This Agreement is
intended to be enforceable as a subordination agreement under Bankruptcy Code
section 510 notwithstanding the commencement of any bankruptcy or other
insolvency proceeding by or against Borrower and, to the full extent permitted
by law, shall apply with full force and effect to any indebtedness arising
pursuant to debtor-in-possession financing arrangements or pursuant to financing
arrangements entered into in connection with the confirmation of a plan of
reorganization under Chapter 11 of the Bankruptcy Code. Subordinated Creditor
acknowledges and consents that, to the extent that the Lender elects at its
option to provide to Borrower additional financing upon terms and conditions
satisfactory to the Lender and Borrower, whether prior to, during, or after an
Insolvency Proceeding, or at any other time prior to the Senior Indebtedness
having been indefeasibly paid in full in cash to the Lender, such additional
indebtedness (represented by such additional financing), together with any and
all interest or fees thereon (collectively, the "Additional Financing"), shall
become a part of the Senior Indebtedness, and shall be treated as provided under
this Agreement. Further, Subordinated Creditor acknowledges and agrees that such
Subordinated Creditor shall not object to any terms or conditions of the
Additional Financing, whether in the form of debtor-in-possession financing or
cash collateral use, as may be agreed to by the Lender and Borrower, and
Subordinated Creditor acknowledges and agrees that Subordinated Creditor shall
not be entitled to any adequate protection under the Bankruptcy Code (whether in
the form of replacement liens or adequate protection payments) until the Senior
Indebtedness is indefeasibly paid in full in cash to the Lender.

         23.      No Third Party Beneficiaries. This Agreement is solely for the
benefit of the Lender and the other holders of Senior Indebtedness, Subordinated
Creditor, and its respective successors and assigns, and neither Borrower nor
any other Person is intended to be a third party beneficiary hereunder or to
have any right, benefit, priority or interest under, or because of the existence
of, or to have any right to enforce, this Agreement. The Lender and the
Subordinated Creditor shall have the right to modify or terminate this Agreement
at any time without notice to or approval of Borrower or any other Person.
Nothing in this Agreement is intended to or shall impair, as between Borrower
and Subordinated Creditor, the obligations of Borrower, which are absolute and
unconditional, to pay the Subordinated Indebtedness as and when the same shall
become due and payable in accordance with its terms, or affect the relative
rights of the Subordinated Creditor and creditors of Borrower other than the
Lender and the other holders of Senior Indebtedness.

SUBORDINATION AGREEMENT - Page 11
-----------------------
<PAGE>

         24.      Inconsistent or Conflicting Provisions. In the event a
provision of the documents evidencing or governing the Senior Indebtedness or
the Subordinated Indebtedness is inconsistent or conflicts with the provisions
of this Agreement, the provisions of this Agreement shall govern and prevail.

         25.      Counterparts. This Agreement may be executed and delivered in
counterparts, including facsimile counterpart signatures (to be followed in due
course by delivery of original signature counterparts), shall be effective when
each party has delivered its counterpart signature, and all counterparts taken
together shall be deemed a single original agreement.

                       *The next page is a signature page*

SUBORDINATION AGREEMENT - Page 12
-----------------------
<PAGE>

         IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be
executed under seal as of the day and year first above written.

                                   BORROWER:

                                   VELOCITY INVESTMENTS, LLC,
                                   a New Jersey Limited Liability Company

                                   By: /s/ W. PETER RAGAN, JR.
                                       -----------------------------------------
                                   Name:   W. Peter Ragan, Jr.
                                         ---------------------------------------
                                   Title:  President
                                          --------------------------------------

                                   SUBORDINATED CREDITOR:

                                   VELOCITY ASSET MANAGEMENT, INC.,
                                   a Delaware corporation

                                   By: /s/ JOHN C. KLEINERT
                                       -----------------------------------------
                                   Name:   John C. Kleinert
                                         ---------------------------------------
                                   Title:  President and CEO
                                          --------------------------------------

                                   TLOP ACQUISITION COMPANY, LLC,
                                   a New Jersey limited liability company

                                   By: /s/ VELOCITY ASSET MANAGEMENT, INC. as
                                       its sole managing member
                                       -----------------------------------------
                                   Name:      John C. Kleinert
                                         ---------------------------------------
                                   Title:     President and CEO
                                          --------------------------------------

                                   LENDER:

                                   WELLS FARGO FOOTHILL, INC.,
                                   a California corporation, as Lender

                                   By: /s/ RYAN WATSON
                                       -----------------------------------------
                                   Name:   Ryan Watson
                                         ---------------------------------------
                                   Title:  Assistant Vice President
                                          --------------------------------------

Signature Page to
-----------------
Subordination Agreement - Page 13
-----------------------
<PAGE>

                                    EXHIBIT A
                                    ---------

                            Subordinated Indebtedness
                            -------------------------

Sums owing to Velocity Asset Management, Inc., by Borrower as an intercompany
payable for advances or loans made or property transferred to Borrower, but only
to the extent that such sums, when added to Borrower's member's equity do not
exceed $3,250,000.

Subordination Agreement - Page 14
-----------------------

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