Document:

Guaranty Agreement

    GUARANTY
      OF PAYMENT

    

    THIS
      GUARANTY OF PAYMENT (this "Guaranty") is made as of the 21st
      day of
      December, 2006, by IELEMENT
      CORPORATION,
      a
      corporation organized and existing under the laws of the state of Nevada (he
      "Guarantor"), in favor of ROCKLAND CREDIT FINANCE LLC, a Maryland limited
      liability company (the "Factor").

    

    RECITALS

    

    A.
      Upon
      the terms and subject to the conditions of a Master Factoring Agreement of
      even
      date herewith (as the same may from time to time be amended, restated,
      supplemented, or otherwise modified, the "Master Factoring Agreement") between
      U.S.
      Wireless Online, Inc.,
      a
      Nevada corporation, (the "Assignor") and the Factor, the Assignor and the Factor
      have entered into a financing arrangement (the "Factoring Arrangement") pursuant
      to which the Assignor desires to sell its accounts receivable to Factor from
      time to time. As used in this Guaranty, the term "Factoring Document" means
      the
      Master Factoring Agreement, any invoice evidencing an Assigned Account (as
      defined in the Master Factoring Agreement), any instrument of assignment
      evidencing the sale of an Assigned Account to the Factor, and any other
      instrument, agreement, report or information previously, simultaneously, or
      hereafter executed and/or delivered by the Assignor, the Guarantor, or any
      other
      person as evidence of, security for, guaranty of, or in connection with, the
      Factoring Arrangement.

    

    B.
      The
      Factor has required this Guaranty as a condition to entering into the Master
      Factoring Agreement and making advances to Assignor thereunder. The Guarantor
      has a direct or indirect financial interest in Assignor and is willing to
      provide this Guaranty upon the terms and conditions set forth
      below.

    

    NOW,
      THEREFORE, in order to induce the Factor to enter into the Master Factoring
      Agreement with the Assignor and to make advances to the Assignor thereunder,
      the
      Guarantor covenants and agrees as follows:

    

    
      
        
          GUARANTY
            (CORPORATE) REV. 8-1-05

        

         

      

      
         

        
          

        

      

      
         

        
        

      

    

    

    1.  Guaranty.
      The
      Guarantor hereby unconditionally and irrevocably guarantees to the Factor the
      payment of any and all present and future obligations of the Assignor to the
      Factor arising pursuant to and/or on account of the provisions of any of the
      Factoring Documents including, without limitation, all of the Obligations as
      defined in the Master Factoring Agreement (collectively, the "Guaranteed
      Liabilities"). This Guaranty is a guaranty of payment and not of collectability
      and is in no way conditioned upon or limited by: (a) any attempt to collect
      from
      the Assignor; (b) any attempt to collect from any other person who is or may
      be
      liable under any of the Factoring Documents (any "Secondary Obligor"); or (c)
      any resort or recourse to or against any collateral pledged, assigned, or
      granted to the Factor. If the Assignor fails to pay any of the Guaranteed
      Liabilities, when and as the same shall become due and payable, the Guarantor
      shall on demand pay the same to the Factor in immediately available funds,
      in
      lawful money of the United States of America.

    

    2.  Nature
      of Obligations.
      The
      obligations and liabilities of the Guarantor under this Guaranty are primary,
      continuing, absolute, unconditional, shall remain in full force and effect
      until
      all of the Guaranteed Liabilities are indefeasibly paid in full, shall not
      be
      subject to any counterclaim, recoupment, set-off, or defense based upon any
      claim that the Guarantor may have against the Assignor, are independent of
      any
      other guaranty in effect with respect to all or any part of the Guaranteed
      Liabilities, and may be enforced regardless of the existence of such other
      guaranty. This Guaranty shall continue to be effective, or be reinstated, as
      the
      case may be, if at any time any payment, or any part thereof, of any of the
      Guaranteed Liabilities is rescinded or must otherwise be restored or returned
      by
      the Factor upon the insolvency, bankruptcy, receivership, dissolution,
      liquidation or reorganization of the Assignor or any Secondary Obligor, or
      upon
      or as a result of the appointment of a receiver, intervenor or conservator
      of,
      or trustee or similar officer for, the Assignor or any Secondary Obligor or
      any
      substantial part of the property of the Assignor or any Secondary Obligor,
      or
      otherwise, all as though such payment had not been made. The obligations of
      the
      Guarantor hereunder shall not be affected, impaired, lessened, modified, waived,
      and/or released by the invalidity or unenforceability of any or all of the
      Factoring Documents. The Guarantor hereby consents that at any time and from
      time to time, the Factor may, without in any manner affecting, impairing, and/or
      releasing any or all of the obligations of the Guarantor under this Guaranty,
      do
      any one or more of the following, all without notice to or further consent
      of
      the Guarantor: (a) renew, extend, and/or change the terms for payment of any
      of
      the Guaranteed Liabilities; (b) extend and/or change terms for performance
      of
      any other obligations, or agreements under the Factoring Documents of any party
      to the Factoring Documents; (c) modify, amend, compromise, settle, substitute,
      exchange, sell, assign, collect, release, terminate, waive, and/or otherwise
      deal with in any manner satisfactory to the Factor (i) the provisions of any
      or
      all of the Factoring Documents, (ii) any or all of the Guaranteed Liabilities,
      (iii) any or all of the Secondary Obligors, and (iv) any or all property now
      or
      hereafter serving as collateral for any or all of the Guaranteed Liabilities;
      (d) receive additional property as collateral for any or all of the Guaranteed
      Liabilities; (e) fail, omit, lack diligence, or delay to enforce, assert, or
      exercise any right, power, privilege, or remedy conferred upon the Factor under
      the provisions of any of the Factoring Documents or under applicable laws;
      (f)
      take action or omit to take action under, or in respect of, any or all of the
      Factoring Documents; and (g) apply any payment received on account of the
      Guaranteed Liabilities to the Guaranteed Liabilities in whatever order and
      manner the Factor elects.

    

    3.  Waiver
      by Guarantor.
      To the
      maximum extent permitted by law, the Guarantor unconditionally waives (a) notice
      of the execution and delivery of the Factoring Documents; (b) notice of the
      Factor's reliance on this Guaranty or the creation of any of the Guaranteed
      Liabilities; (c) presentment, demand, dishonor, protest, notice of non-payment,
      and notice of dishonor; (d) all notices required by statute, rule of law, or
      otherwise to preserve any rights against the Guarantor, hereunder or under
      any
      of the Factoring Documents, including, without limitation, any demand, proof,
      or
      notice of non-payment of any of the Guaranteed Liabilities and notice of any
      failure or default on the part of the Assignor or any of the Secondary Obligors
      to perform or comply with any term of any of the Factoring Documents; or (e)
      any
      right or claim the Guarantor may now or hereafter have with respect to any
      such
      payment against the Assignor or any Secondary Obligor arising by way of
      subrogation, reimbursement or indemnity. All
      present and future debts and obligations of the Assignor to the Guarantor are
      hereby waived and postponed in favor of and are hereby subordinated to the
      full
      payment of all Guaranteed Liabilities to the Factor.

    

    4.  Enforcement
      Expenses.
      The
      Guarantor shall indemnify and hold harmless the Factor against any loss,
      liability, or expense, including attorneys' fees and disbursements and any
      other
      fees and disbursements, that may result from any failure of the Assignor to
      pay
      any of the Guaranteed Liabilities when and as due and payable or that may be
      incurred by or on behalf of the Factor in enforcing any obligation of the
      Assignor or of any of the Secondary Obligors to pay any of the Guaranteed
      Liabilities and any obligations and liabilities of the Guarantor hereunder.
      

    

    5.  Confession
      of Judgment.
      At any
      time after an Event of Default under this Guaranty, the Guarantor hereby
      authorizes and empowers any attorney or clerk of any court of record within
      the
      United States of America to appear for the Guarantor in any court (subject
      to
      Paragraph 11 hereof) in one or more proceedings or before any clerk thereof,
      and
      confess judgment against the Guarantor without prior notice or opportunity
      for
      prior hearing, in favor of the Factor for an amount equal to the then unpaid
      balance of the Guaranteed Liabilities (whether then due or not), plus interest
      due and payable by the Guarantor as set forth herein, all other amounts due
      and
      payable by the Guarantor hereunder, costs of suit, and attorneys' fees of ten
      percent (10%) of such unpaid balance of the Guaranteed Liabilities. As used
      herein, “Event of Default” means (a) the occurrence of any Event of Default
      under and as defined in the Factoring Agreement and/or (b) the failure of the
      Guarantor to pay to the Factor as and when due and payable any and all amounts
      payable by the Guarantor to the Factor under the provisions of this Guaranty.
      

    

    6.  Delay
      and Waiver by Factor.
      No
      delay in the exercise of, or failure to exercise, any right, remedy, or power
      under this Guaranty shall impair any such right, remedy, or power or shall
      be
      construed to be a waiver thereof, but any such right, remedy, or power may
      be
      exercised from time to time and as often as may be deemed by the Factor
      expedient. In order to entitle the Factor to exercise any right, remedy, or
      power reserved to it in this Guaranty, it shall not be necessary to give any
      notice to the Guarantor. If the Guarantor should default in the performance
      of
      any obligation under this Guaranty, and such default should thereafter be waived
      by the Factor, such waiver shall be limited to the particular default so waived.
      No waiver, amendment, release, or modification of this Guaranty shall be
      established by conduct, custom, or course of dealing.

    

    7.  Notices
      and Communications.
      Notices
      shall be deemed given hereunder when sent or dispatched by certified or
      registered mail or private overnight express mail, postage or charges prepaid,
      or by facsimile copy, (i) if to the Guarantor, to the address set forth below
      under the Guarantor’s signature hereto and (ii) if to the Factor, to the
      following address:

    

    Rockland
      Credit Finance LLC

    Attn:
      John Fox

    6
      Park
      Center Court, Suite 212

    Baltimore,
      MD 21117

    Fax
      #:
      410-902-0893

    

    or
      to
      such other notice address as a party may designate by written notice to the
      other party.

    

    8.  Assignment.
      The
      Factor may, without notice to, or consent of the Guarantor, sell, assign, or
      transfer to any person or persons all or any part of the Guaranteed Liabilities,
      and each such person or persons shall have the right to enforce this Guaranty
      as
      fully as the Factor, provided that the Factor shall continue to have the
      unimpaired right to enforce this Guaranty as to so much of the Guaranteed
      Liabilities that it has not sold, assigned, or transferred.

    

    9.  Successors
      and Assigns.
      All
      covenants and agreements of the Guarantor set forth in this Guaranty shall
      bind
      the Guarantor and its heirs, personal representatives, successors, and assigns
      and shall inure to the benefit of, and be enforceable by, the Factor and its
      successors and assigns, including, without limitation, any holder of any or
      all
      of the Factoring Documents.

    

    10.  Entire
      Agreement.
      This
      Guaranty constitutes the entire agreement of the Guarantor with respect to
      the
      subject matter hereof. The Guarantor acknowledges and confirms that the Factor
      has made no warranty or representation to the Guarantor relating to this
      Guaranty or its enforcement. The Factor’s rights hereunder shall not be
      affected, modified or abrogated in any way by any prior agreement, understanding
      or discussion between the parties relating to the subject matter hereof, all
      of
      which (if any) are hereby terminated and superseded by this
      Guaranty.

    

    11.  Venue
      and Jurisdiction.
      Any
      judicial proceeding to enforce this Guaranty may be brought by the Factor
      against the Guarantor, in Baltimore, Maryland, or, at the Factor’s sole and
      exclusive option, in any other jurisdiction permitted by law. For purposes
      of
      any such proceeding, the Guarantor hereby irrevocably consents, submits, and
      waives any and all objections to the personal jurisdiction of the state and
      federal courts of the State of Maryland over Guarantor. 

     

    12.  Miscellaneous.
      Neither
      this Guaranty nor any term hereof may be terminated, amended, supplemented,
      waived, released, or modified orally, but only by an instrument in writing
      signed by the party against which the enforcement of the termination, amendment,
      supplement, waiver, release, or modification is sought. Whenever used herein,
      the singular number shall include the plural, the plural the singular, and
      the
      use of the masculine, feminine, or neuter gender shall include all genders.
      Whenever used herein, the word "person" or "persons" shall mean and include
      a
      corporation, an association, a partnership, an organization, a business, an
      individual, a government or political subdivision or agency thereof, or an
      estate or trust. This Guaranty shall in all respects be deemed to be made in,
      and governed by, construed and enforced in accordance with the laws of, the
      State of Maryland. The Factor shall have the right to grant participations
      in
      the Guaranteed Liabilities to others at any time and from time to time, and
      the
      Factor may divulge to any such participant or potential participant all
      information, reports, financial statements, and documents obtained in connection
      with this Guaranty, any of the Factoring Documents, or otherwise. If any term
      of
      this Guaranty or any obligation thereunder shall be held to be invalid, illegal,
      or unenforceable, the remainder of this Guaranty and any other application
      of
      such term shall not be affected thereby. The paragraph and Paragraph headings
      of
      this Guaranty have been inserted for convenience only and shall not modify,
      define, limit, or expand the express provisions hereof. This Guaranty may be
      executed in duplicate originals or in several counterparts, each of which shall
      be deemed an original but all of which together shall constitute one instrument,
      and it shall not be necessary in making proof hereof to produce or account
      for
      more than one such duplicate original or counterpart.

    

    

    
      
        
          GUARANTY
            (CORPORATE) REV. 8-1-05

        

         

      

      
         

        
          

        

      

      
         

        
        

      

    

    [THE
      REMAINDER OF THIS PAGE IS INTENTIONALLY LEFT BLANK.]

    

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    

    13.  WAIVER
      OF RIGHT TO TRIAL BY JURY.
      ANY SUIT, ACTION OR PROCEEDING TO ENFORCE OR OTHERWISE RELATING TO THIS GUARANTY
      SHALL BE TRIED ONLY BY A COURT AND NOT BY A JURY. THE GUARANTOR HEREBY
      KNOWINGLY, VOLUNTARILY AND IRREVOCABLY WAIVES ANY RIGHT TO A TRIAL BY JURY
      IN
      ANY SUCH SUIT, ACTION OR PROCEEDING. 

    

    IN
      WITNESS WHEREOF, the Guarantor has signed, sealed, and delivered this Guaranty
      as of the day and year first written above.

    

    
      	
               

              WITNESS:

               

               

              _____________________________________________

               

               

               

               

               

               

               

            	
               

              IELEMENT
                CORPORATION

               

               

              By__________________________________________(SEAL)

               

              Name:     

               

              Title:     

               

              Address:__________________________________________

              __________________________________________________

              __________________________________________________

              Fax
                #:____________________________________________

            

    

    

    

    State
      of
      ________________)

              
      ) TO WIT:

    County
      of
      _______________)

    

    I
      HEREBY
      CERTIFY, that on this  
      day of
      December, 2006, before me, a Notary Public of said State, personally appeared
      __________________
      ____,
      as
      _________________________ and on behalf of the within named Guarantor, known
      to
      me (or satisfactorily proven) to be the person whose name is subscribed to
      the
      foregoing instrument and acknowledged that he/she executed the same for the
      purposes therein contained.

    

    

    WITNESS
      my hand and Notarial Seal.

    

          

    Notary
      Public

    My
      Commission Expires:GUARANTY
      OF PAYMENT

    

    THIS
      GUARANTY OF PAYMENT (this "Guaranty") is made as of the 21st
      day of
      December, 2006, by IELEMENT,
      INC.,
      a
      corporation organized and existing under the laws of the state of Nevada (he
      "Guarantor"), in favor of ROCKLAND CREDIT FINANCE LLC, a Maryland limited
      liability company (the "Factor").

    

    RECITALS

    

    A.
      Upon
      the terms and subject to the conditions of a Master Factoring Agreement of
      even
      date herewith (as the same may from time to time be amended, restated,
      supplemented, or otherwise modified, the "Master Factoring Agreement") between
      U.S.
      Wireless Online, Inc.,
      a
      Nevada corporation, (the "Assignor") and the Factor, the Assignor and the Factor
      have entered into a financing arrangement (the "Factoring Arrangement") pursuant
      to which the Assignor desires to sell its accounts receivable to Factor from
      time to time. As used in this Guaranty, the term "Factoring Document" means
      the
      Master Factoring Agreement, any invoice evidencing an Assigned Account (as
      defined in the Master Factoring Agreement), any instrument of assignment
      evidencing the sale of an Assigned Account to the Factor, and any other
      instrument, agreement, report or information previously, simultaneously, or
      hereafter executed and/or delivered by the Assignor, the Guarantor, or any
      other
      person as evidence of, security for, guaranty of, or in connection with, the
      Factoring Arrangement.

    

    B.
      The
      Factor has required this Guaranty as a condition to entering into the Master
      Factoring Agreement and making advances to Assignor thereunder. The Guarantor
      has a direct or indirect financial interest in Assignor and is willing to
      provide this Guaranty upon the terms and conditions set forth
      below.

    

    NOW,
      THEREFORE, in order to induce the Factor to enter into the Master Factoring
      Agreement with the Assignor and to make advances to the Assignor thereunder,
      the
      Guarantor covenants and agrees as follows:

    

    
      
        
          GUARANTY
            (CORPORATE) REV. 8-1-05

        

         

      

      
         

        
          

        

      

      
         

        
        

      

    

    

    1.  Guaranty.
      The
      Guarantor hereby unconditionally and irrevocably guarantees to the Factor the
      payment of any and all present and future obligations of the Assignor to the
      Factor arising pursuant to and/or on account of the provisions of any of the
      Factoring Documents including, without limitation, all of the Obligations as
      defined in the Master Factoring Agreement (collectively, the "Guaranteed
      Liabilities"). This Guaranty is a guaranty of payment and not of collectability
      and is in no way conditioned upon or limited by: (a) any attempt to collect
      from
      the Assignor; (b) any attempt to collect from any other person who is or may
      be
      liable under any of the Factoring Documents (any "Secondary Obligor"); or (c)
      any resort or recourse to or against any collateral pledged, assigned, or
      granted to the Factor. If the Assignor fails to pay any of the Guaranteed
      Liabilities, when and as the same shall become due and payable, the Guarantor
      shall on demand pay the same to the Factor in immediately available funds,
      in
      lawful money of the United States of America.

    

    2.  Nature
      of Obligations.
      The
      obligations and liabilities of the Guarantor under this Guaranty are primary,
      continuing, absolute, unconditional, shall remain in full force and effect
      until
      all of the Guaranteed Liabilities are indefeasibly paid in full, shall not
      be
      subject to any counterclaim, recoupment, set-off, or defense based upon any
      claim that the Guarantor may have against the Assignor, are independent of
      any
      other guaranty in effect with respect to all or any part of the Guaranteed
      Liabilities, and may be enforced regardless of the existence of such other
      guaranty. This Guaranty shall continue to be effective, or be reinstated, as
      the
      case may be, if at any time any payment, or any part thereof, of any of the
      Guaranteed Liabilities is rescinded or must otherwise be restored or returned
      by
      the Factor upon the insolvency, bankruptcy, receivership, dissolution,
      liquidation or reorganization of the Assignor or any Secondary Obligor, or
      upon
      or as a result of the appointment of a receiver, intervenor or conservator
      of,
      or trustee or similar officer for, the Assignor or any Secondary Obligor or
      any
      substantial part of the property of the Assignor or any Secondary Obligor,
      or
      otherwise, all as though such payment had not been made. The obligations of
      the
      Guarantor hereunder shall not be affected, impaired, lessened, modified, waived,
      and/or released by the invalidity or unenforceability of any or all of the
      Factoring Documents. The Guarantor hereby consents that at any time and from
      time to time, the Factor may, without in any manner affecting, impairing, and/or
      releasing any or all of the obligations of the Guarantor under this Guaranty,
      do
      any one or more of the following, all without notice to or further consent
      of
      the Guarantor: (a) renew, extend, and/or change the terms for payment of any
      of
      the Guaranteed Liabilities; (b) extend and/or change terms for performance
      of
      any other obligations, or agreements under the Factoring Documents of any party
      to the Factoring Documents; (c) modify, amend, compromise, settle, substitute,
      exchange, sell, assign, collect, release, terminate, waive, and/or otherwise
      deal with in any manner satisfactory to the Factor (i) the provisions of any
      or
      all of the Factoring Documents, (ii) any or all of the Guaranteed Liabilities,
      (iii) any or all of the Secondary Obligors, and (iv) any or all property now
      or
      hereafter serving as collateral for any or all of the Guaranteed Liabilities;
      (d) receive additional property as collateral for any or all of the Guaranteed
      Liabilities; (e) fail, omit, lack diligence, or delay to enforce, assert, or
      exercise any right, power, privilege, or remedy conferred upon the Factor under
      the provisions of any of the Factoring Documents or under applicable laws;
      (f)
      take action or omit to take action under, or in respect of, any or all of the
      Factoring Documents; and (g) apply any payment received on account of the
      Guaranteed Liabilities to the Guaranteed Liabilities in whatever order and
      manner the Factor elects.

    

    3.  Waiver
      by Guarantor.
      To the
      maximum extent permitted by law, the Guarantor unconditionally waives (a) notice
      of the execution and delivery of the Factoring Documents; (b) notice of the
      Factor's reliance on this Guaranty or the creation of any of the Guaranteed
      Liabilities; (c) presentment, demand, dishonor, protest, notice of non-payment,
      and notice of dishonor; (d) all notices required by statute, rule of law, or
      otherwise to preserve any rights against the Guarantor, hereunder or under
      any
      of the Factoring Documents, including, without limitation, any demand, proof,
      or
      notice of non-payment of any of the Guaranteed Liabilities and notice of any
      failure or default on the part of the Assignor or any of the Secondary Obligors
      to perform or comply with any term of any of the Factoring Documents; or (e)
      any
      right or claim the Guarantor may now or hereafter have with respect to any
      such
      payment against the Assignor or any Secondary Obligor arising by way of
      subrogation, reimbursement or indemnity. All
      present and future debts and obligations of the Assignor to the Guarantor are
      hereby waived and postponed in favor of and are hereby subordinated to the
      full
      payment of all Guaranteed Liabilities to the Factor.

    

    4.  Enforcement
      Expenses.
      The
      Guarantor shall indemnify and hold harmless the Factor against any loss,
      liability, or expense, including attorneys' fees and disbursements and any
      other
      fees and disbursements, that may result from any failure of the Assignor to
      pay
      any of the Guaranteed Liabilities when and as due and payable or that may be
      incurred by or on behalf of the Factor in enforcing any obligation of the
      Assignor or of any of the Secondary Obligors to pay any of the Guaranteed
      Liabilities and any obligations and liabilities of the Guarantor hereunder.
      

    

    5.  Confession
      of Judgment.
      At any
      time after an Event of Default under this Guaranty, the Guarantor hereby
      authorizes and empowers any attorney or clerk of any court of record within
      the
      United States of America to appear for the Guarantor in any court (subject
      to
      Paragraph 11 hereof) in one or more proceedings or before any clerk thereof,
      and
      confess judgment against the Guarantor without prior notice or opportunity
      for
      prior hearing, in favor of the Factor for an amount equal to the then unpaid
      balance of the Guaranteed Liabilities (whether then due or not), plus interest
      due and payable by the Guarantor as set forth herein, all other amounts due
      and
      payable by the Guarantor hereunder, costs of suit, and attorneys' fees of ten
      percent (10%) of such unpaid balance of the Guaranteed Liabilities. As used
      herein, “Event of Default” means (a) the occurrence of any Event of Default
      under and as defined in the Factoring Agreement and/or (b) the failure of the
      Guarantor to pay to the Factor as and when due and payable any and all amounts
      payable by the Guarantor to the Factor under the provisions of this Guaranty.
      

    

    6.  Delay
      and Waiver by Factor.
      No
      delay in the exercise of, or failure to exercise, any right, remedy, or power
      under this Guaranty shall impair any such right, remedy, or power or shall
      be
      construed to be a waiver thereof, but any such right, remedy, or power may
      be
      exercised from time to time and as often as may be deemed by the Factor
      expedient. In order to entitle the Factor to exercise any right, remedy, or
      power reserved to it in this Guaranty, it shall not be necessary to give any
      notice to the Guarantor. If the Guarantor should default in the performance
      of
      any obligation under this Guaranty, and such default should thereafter be waived
      by the Factor, such waiver shall be limited to the particular default so waived.
      No waiver, amendment, release, or modification of this Guaranty shall be
      established by conduct, custom, or course of dealing.

    

    7.  Notices
      and Communications.
      Notices
      shall be deemed given hereunder when sent or dispatched by certified or
      registered mail or private overnight express mail, postage or charges prepaid,
      or by facsimile copy, (i) if to the Guarantor, to the address set forth below
      under the Guarantor’s signature hereto and (ii) if to the Factor, to the
      following address:

    

    Rockland
      Credit Finance LLC

    Attn:
      John Fox

    6
      Park
      Center Court, Suite 212

    Baltimore,
      MD 21117

    Fax
      #:
      410-902-0893

    

    or
      to
      such other notice address as a party may designate by written notice to the
      other party.

    

    8.  Assignment.
      The
      Factor may, without notice to, or consent of the Guarantor, sell, assign, or
      transfer to any person or persons all or any part of the Guaranteed Liabilities,
      and each such person or persons shall have the right to enforce this Guaranty
      as
      fully as the Factor, provided that the Factor shall continue to have the
      unimpaired right to enforce this Guaranty as to so much of the Guaranteed
      Liabilities that it has not sold, assigned, or transferred.

    

    9.  Successors
      and Assigns.
      All
      covenants and agreements of the Guarantor set forth in this Guaranty shall
      bind
      the Guarantor and its heirs, personal representatives, successors, and assigns
      and shall inure to the benefit of, and be enforceable by, the Factor and its
      successors and assigns, including, without limitation, any holder of any or
      all
      of the Factoring Documents.

    

    10.  Entire
      Agreement.
      This
      Guaranty constitutes the entire agreement of the Guarantor with respect to
      the
      subject matter hereof. The Guarantor acknowledges and confirms that the Factor
      has made no warranty or representation to the Guarantor relating to this
      Guaranty or its enforcement. The Factor’s rights hereunder shall not be
      affected, modified or abrogated in any way by any prior agreement, understanding
      or discussion between the parties relating to the subject matter hereof, all
      of
      which (if any) are hereby terminated and superseded by this
      Guaranty.

    

    11.  Venue
      and Jurisdiction.
      Any
      judicial proceeding to enforce this Guaranty may be brought by the Factor
      against the Guarantor, in Baltimore, Maryland, or, at the Factor’s sole and
      exclusive option, in any other jurisdiction permitted by law. For purposes
      of
      any such proceeding, the Guarantor hereby irrevocably consents, submits, and
      waives any and all objections to the personal jurisdiction of the state and
      federal courts of the State of Maryland over Guarantor. 

     

    12.  Miscellaneous.
      Neither
      this Guaranty nor any term hereof may be terminated, amended, supplemented,
      waived, released, or modified orally, but only by an instrument in writing
      signed by the party against which the enforcement of the termination, amendment,
      supplement, waiver, release, or modification is sought. Whenever used herein,
      the singular number shall include the plural, the plural the singular, and
      the
      use of the masculine, feminine, or neuter gender shall include all genders.
      Whenever used herein, the word "person" or "persons" shall mean and include
      a
      corporation, an association, a partnership, an organization, a business, an
      individual, a government or political subdivision or agency thereof, or an
      estate or trust. This Guaranty shall in all respects be deemed to be made in,
      and governed by, construed and enforced in accordance with the laws of, the
      State of Maryland. The Factor shall have the right to grant participations
      in
      the Guaranteed Liabilities to others at any time and from time to time, and
      the
      Factor may divulge to any such participant or potential participant all
      information, reports, financial statements, and documents obtained in connection
      with this Guaranty, any of the Factoring Documents, or otherwise. If any term
      of
      this Guaranty or any obligation thereunder shall be held to be invalid, illegal,
      or unenforceable, the remainder of this Guaranty and any other application
      of
      such term shall not be affected thereby. The paragraph and Paragraph headings
      of
      this Guaranty have been inserted for convenience only and shall not modify,
      define, limit, or expand the express provisions hereof. This Guaranty may be
      executed in duplicate originals or in several counterparts, each of which shall
      be deemed an original but all of which together shall constitute one instrument,
      and it shall not be necessary in making proof hereof to produce or account
      for
      more than one such duplicate original or counterpart.

    

    

    
      
        
          GUARANTY
            (CORPORATE) REV. 8-1-05

        

         

      

      
         

        
          

        

      

      
         

        
        

      

    

    [THE
      REMAINDER OF THIS PAGE IS INTENTIONALLY LEFT BLANK.]

    

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    

    13.  WAIVER
      OF RIGHT TO TRIAL BY JURY.
      ANY SUIT, ACTION OR PROCEEDING TO ENFORCE OR OTHERWISE RELATING TO THIS GUARANTY
      SHALL BE TRIED ONLY BY A COURT AND NOT BY A JURY. THE GUARANTOR HEREBY
      KNOWINGLY, VOLUNTARILY AND IRREVOCABLY WAIVES ANY RIGHT TO A TRIAL BY JURY
      IN
      ANY SUCH SUIT, ACTION OR PROCEEDING. 

    

    IN
      WITNESS WHEREOF, the Guarantor has signed, sealed, and delivered this Guaranty
      as of the day and year first written above.

    

    
      	
               

              WITNESS:

               

               

              _____________________________________________

               

               

               

               

               

               

               

            	
               

              IELEMENT,
                INC.

               

               

              By__________________________________________(SEAL)

               

              Name:     

               

              Title:     

               

              Address:__________________________________________

              __________________________________________________

              __________________________________________________

              Fax
                #:____________________________________________

            

    

    

    

    State
      of
      ________________)

               
      ) TO WIT:

    County
      of
      _______________)

    

    I
      HEREBY
      CERTIFY, that on this  
      day of
      December, 2006, before me, a Notary Public of said State, personally appeared
      __________________
      ____,
      as
      _________________________ and on behalf of the within named Guarantor, known
      to
      me (or satisfactorily proven) to be the person whose name is subscribed to
      the
      foregoing instrument and acknowledged that he/she executed the same for the
      purposes therein contained.

    

    

    WITNESS
      my hand and Notarial Seal.

    

          

    Notary
      Public

    My
      Commission Expires:

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