Document:

<PAGE>

                                                                  Exhibit 10.2

                                PLEDGE AGREEMENT
                                 (PARTNERSHIPS)

            FOR VALUE RECEIVED, the undersigned, Echelon Residential Holdings
LLC, a Delaware limited liability company (the "Pledgor") and the sole member of
Echelon Residential LLC, a Delaware limited liability company ("Residential"),
hereby assigns and pledges to American Income Partners V-A Limited Partnership,
a Massachusetts limited partnership, in its capacity as collateral agent (the
"Agent") for itself and each of American Income Partners V-B Limited
Partnership, a Massachusetts limited partnership, American Income Partners V-C
Limited Partnership, a Massachusetts limited partnership, American Income
Partners V-D Limited Partnership, a Massachusetts limited partnership, American
Income Fund I-A Limited Partnership, a Massachusetts limited partnership,
American Income Fund I-B Limited Partnership, a Massachusetts limited
partnership, American Income Fund I-C Limited Partnership, a Massachusetts
limited partnership, American Income Fund I-D Limited Partnership, a
Massachusetts limited partnership, American Income Fund I-E Limited Partnership,
a Massachusetts limited partnership, AIRFUND International Limited Partnership,
a Massachusetts limited partnership and AIRFUND II International Limited
Partnership, a Massachusetts limited partnership and their respective successors
and assigns (collectively, the "Lenders"), and grants to the Agent a security
interest in all of the Pledgor's right, title and interest in and to its
membership interests in Residential, wherever located and whether now owned or
hereafter acquired, together with (i) all payments and distributions, whether in
cash, property or otherwise, at any time owing or payable to the Pledgor on
account of its interest as a member of Residential, (ii) all of the Pledgor's
rights and interests under the operating agreement of Residential (the
"Operating Agreement"), including all voting and management rights and all
rights to grant or withhold consents or approvals, (iii) all rights of access
and inspection to and use of all books and records, including computer software
and computer software programs, of Residential, (iv) all other rights,
interests, property or claims to which the Pledgor may be entitled to in its
capacity as a member of Residential, (v) any and all substitutions and
replacements thereof, including any securities or other instruments into which
any of the foregoing may at any time and from time to time be converted or
exchanged, and (vi) any and all proceeds and products of the foregoing, cash and
non-cash (collectively, the "Pledged Interest"). The Pledgor irrevocably waives
any and all provisions of the Operating Agreement that (i) prohibit, restrict,
condition or otherwise affect the grant hereunder of any lien, security interest
or encumbrance on the Pledged Interest or any enforcement action which may be
taken in respect of any such lien, security interest or encumbrance, or (ii)
otherwise conflict with the terms of this Pledge Agreement.

      This Pledge Agreement is entered into in connection with and secures the
payment of amounts due to the Lenders from the Pledgor pursuant to those certain
Promissory Notes of even date herewith (each a "Note" and collectively, the
"Notes") made by the Pledgor in favor of each of the Lenders, together with all
covenants and agreements contained herein (collectively, the "Secured
Liabilities").
<PAGE>

      The Pledgor and each of the Lenders hereby represent, warrant, covenant
and agree as follows:

      1. Pledgor hereby represents and warrants that (i) the Operating
Agreement, a true, correct and complete copy of which is attached hereto as
Exhibit A, is in full force and effect and has not been amended or modified in
any respect, except for such amendments or modifications as are attached to the
copy thereof delivered herewith; (ii) it is a duly constituted and is the sole
member of Residential pursuant to the Operating Agreement, although such
membership is not evidenced by any certificate issued by Residential; (iii) the
Pledged Interest are validly issued, non-assessable and fully paid membership
interests in Residential; (iv) Pledgor has full right, power and authority to
make this Pledge Agreement (including the provisions enabling the Agent, upon
the occurrence of an Event of Default, to exercise the voting or other rights
provided for herein, under the Operating Agreement and under applicable law,
without the consent, approval or authorization of, or notice to, any other
person, including any regulatory authority or any person having any interest in
Residential, except for such consents as have been duly received; and (v) this
Pledge Agreement has been duly executed and delivered by the Pledgor and is the
legal, valid and binding obligation of the Pledgor enforceable in accordance
with its terms.

      2. Pledgor shall protect and preserve the Pledged Interest. Pledgor will
not permit or agree to any amendment or modification of the Operating Agreement,
or waive any rights or benefits under the Operating Agreement, without the prior
written consent of the Agent. Pledgor hereby represents and warrants that
Pledgor has and will continue to have good and marketable title to the Pledged
Interest, free and clear of all liens, encumbrances and security interests,
except those created hereby, and agrees to preserve such unencumbered title and
the Lenders' security interest in the Pledged Interest and to defend it against
all parties. Risk of loss of, damage to, or destruction of, the Pledged Interest
shall be the responsibility of Pledgor, although the Agent shall exercise
reasonable care in the custody and preservation of the Pledged Interest in its
possession to the extent applicable. The Agent shall be deemed to have exercised
such reasonable care if it takes such action for that purpose as the Pledgor
shall reasonably request in writing, but no omission to do any act not requested
by the Pledgor shall be deemed a failure to exercise reasonable care, and no
omission to comply with any request of the Pledgor shall of itself be deemed a
failure to exercise reasonable care. The Pledgor shall execute and deliver to
the Agent and the Lenders any financing statements, continuation statements,
assignments, or other instruments, or take any other action deemed necessary by
the Agent or the Lenders to perfect or continue the perfection of its security
interest in the Pledged Interest. The Agent is hereby irrevocably appointed
attorney-in-fact of the Pledgor to do all acts and things which the Agent may
deem necessary or advisable to perfect and continue perfected their security
interest in the Pledged Interest. The address of the Pledgor is listed below the
Pledgor's signature hereto.

      3. This Pledge Agreement has been entered into under and pursuant to the
Massachusetts Uniform Commercial Code, except that perfection and the effect of
perfection of Secured Party's security interest in collateral in another
jurisdiction will be governed by the Uniform Commercial Code ("UCC") of such
other jurisdiction, and the Agent has all the rights

                                       2
<PAGE>

and remedies of a secured party under the Uniform Commercial Code or applicable
legislation of the applicable jurisdiction. If any one or more of the provisions
hereof should for any reason be invalid, illegal or unenforceable in any
respect, the remaining provisions contained herein shall not in any way be
affected or impaired thereby, and such invalid, illegal, or unenforceable
provision shall be deemed modified to the extent necessary to render it valid
while most nearly preserving its original intent. The Pledgor has (i) caused
Residential to duly register the security interest granted hereby on
Residential's books and has furnished the Agent with evidence thereof in form
and substance satisfactory to the Agent, (ii) has duly executed and caused any
financing statements with respect to the Pledged Interest to be filed in such a
manner and in such places as may be required by applicable law in order to fully
protect the rights of the Agent and the Lenders hereunder and (iii) will cause
any financing statements with respect to the Pledged Interest at all times to be
kept recorded and filed at the Pledgor's sole cost and expense in such a manner
and in such places as may be required by law in order to fully perfect the
interests and protect the rights of the Agent and the Lenders hereunder.

      4. Any one or more of the following events shall constitute an "Event of
Default" hereunder: (i) the Pledgor shall fail to comply with, observe or
perform any obligation hereunder or shall fail to make any payment when due
under any Note; (ii) any representation or warranty made or furnished to the
Agent or the Lenders by or on behalf of the Pledgor in connection with this
Pledge Agreement or any document or instrument furnished, or to be furnished, in
connection herewith or therewith, proves to have been untrue in any material
respect when so made or furnished; (iii) the Pledgor shall commence a voluntary
case under the federal bankruptcy laws (as now or hereafter in effect), file a
petition seeking to take advantage of any other laws relating to bankruptcy,
insolvency, reorganization, winding up or composition for adjustment of debts or
the marshaling of assets ("Bankruptcy Laws"), consent to or fail to contest in a
timely and appropriate manner, any petition filed against the Pledgor in any
involuntary case under any Bankruptcy Laws or other laws, apply for, consent to,
indicate its approval of, acquiesce to or fail to contest in a timely and
appropriate manner, the appointment of, or the taking of possession by, a
receiver, custodian, trustee, or liquidator for the Pledgor or of a substantial
part of the Pledgor's property, admit in writing its inability to pay debts as
they become due, make a general assignment for the benefit of creditors, make a
conveyance fraudulent as to creditors under any state or federal law, or take
any action for the purpose of effecting any of the foregoing; (iv) a case or
other proceeding shall be commenced against the Pledgor in any court of
competent jurisdiction seeking relief under any Bankruptcy Laws, (v) the
appointment of a trustee, receiver, custodian, liquidator or the like for the
Pledgor, or of all or any substantial part of its assets; or (vi) the Pledgor
shall fail to perform any of its obligations under the Operating Agreement.

      5. During the continuance of an Event of Default, the Agent shall have, in
addition to the rights, powers and authorizations to collect the sums assigned
hereunder, all rights and remedies of a secured party under the Uniform
Commercial Code and under other applicable law with respect to the Pledged
Interest, including, without limitation, the following rights and remedies: (i)
the Agent may, in its sole discretion, exercise any management or voting rights
relating to the Pledged Interest (whether or not the same shall have been
transferred into its name

                                       3
<PAGE>

or the name of its nominee or nominees) for any lawful purpose, including for
the amendment or modification of the Operating Agreement or other governing
documents or the liquidation of the assets of Residential, give all consents,
waivers, approvals, and ratifications in respect of such Pledged Interest, and
otherwise act with respect thereto as though it were the outright owner thereof
(the Pledgor hereby irrevocably constituting and appointing the Lenders the
proxy and attorney-in-fact of the Pledgor, with full power and authority of
substitution, to do so); (ii) the Agent may, in its sole discretion, demand, sue
for, collect, compromise, or settle any rights or claims in respect of the
Pledged Interest; (iii) the Agent may, in its sole discretion, sell, resell,
assign, deliver, or otherwise dispose of any or all of the Pledged Interest, for
cash or credit or both and upon such terms, in such manner, at such place or
places, at such time or times, and to such persons or entities as the Agent
think expedient, all without demand for performance by the Pledgor or any notice
or advertisement whatsoever except as expressly provided herein or as may
otherwise be required by applicable law; and (iv) the Agent may, in its sole
discretion, cause all or any part of the Pledged Interest held by it to be
transferred into its name or the name of its nominee or nominees.

      The proceeds of any collection, sale or other disposition of the Pledged
Interest or any part thereof shall, after the Agent has made all deductions of
expenses, including but not limited to attorneys' fees and other expenses
incurred in connection with repossession, collection, sale, or disposition of
the Pledged Interest or in connection with the enforcement of Agent's rights
with respect to the Pledged Interest in any insolvency, bankruptcy or
reorganization proceedings, be applied against any of the Secured Liabilities,
whether or not all the same shall be then due and payable, in such manner as the
Agent and the Lenders shall in their sole discretion determine.

      No single or partial exercise by the Agent of any right, power or remedy
hereunder shall preclude any other or further exercise thereof or the exercise
of any other right, power or remedy. Each right, power and remedy herein
specifically granted to the Agent or otherwise available to them shall be
cumulative, and shall be in addition to every other right, power, and remedy
herein specifically given or now or hereafter existing at law, in equity, or
otherwise. Each such right, power and remedy, whether specifically granted
herein or otherwise existing, may be exercised at any time and from time to time
and as often and in such order as may be deemed expedient by the Agent in its
sole discretion. Nothing contained in this Agreement shall be construed to
require the Agent to take any action with respect to the Pledged Interest,
whether by way of foreclosure or otherwise and except as required by any
Operating Agreement, in order to permit the Agent to become a substitute member
of Residential under the Operating Agreement.

      6. If any notification of intended sale of any of the Pledged Interest is
required by law, such notification shall be deemed reasonable if mailed at least
ten (10) days before such sale, postage prepaid, (i) addressed to the Pledgor at
its notice address herein, and (ii) to any other secured party from whom the
Agent or the Lenders have received (prior to notification of the Pledgor or the
Pledgor's renunciation of his rights after default) written notice of a claim of
an interest in the Pledged Interest.

                                       4
<PAGE>

      7. Any delay or omission by the Agent or the Lenders to exercise any
rights or powers arising from any default or any partial exercise thereof shall
not impair any such rights or powers, nor shall the same be construed to be a
waiver thereof or any acquiescence therein, nor shall any action or non-action
by the Agent or the Lenders in the event of any default alter or impair the
rights of the Agent or the Lenders in respect of any subsequent default, or
impair or affect any rights or powers resulting therefrom. This Pledge Agreement
shall remain in full force and effect until such time as all amounts due under
the Notes shall have been fully and irrevocably paid in full.

      8. All notices, statements, requests, and demands given to or made upon
the any party hereto shall be given or made to such party at the address of such
party as set forth below its signature block herein.

      9. The provisions of this Pledge Agreement shall be binding upon the
Pledgor, the Agent and the Lenders, and their respective heirs, personal
representatives, successors and assigns.

      10. The Agent is hereby appointed by the Indemnities as their collateral
agent and each of the Lenders irrevocably authorize the Agent to act as the
collateral agent of such Lender. The Agent shall not have a fiduciary
relationship in respect of any Lender by reason of this Pledge Agreement, and
the nature of Agent's duties shall be mechanical and administrative in nature
only.

      The Agent shall have and may exercise such powers hereunder as are
specifically delegated to or required by at least two-thirds of the Lenders (the
"Required Lenders") by the terms hereof or under any related document, together
with such powers as are reasonably incidental thereto. The Agent shall have no
implied duties to the Lenders or any obligation to the Lenders to take any
action hereunder except any action hereunder specifically provided hereunder or
under any related document to be taken by the Lenders. Notwithstanding the
foregoing, if the Agent shall receive a specific written instruction which shall
be inconsistent in any way with the foregoing, or which contradicts or
purportedly supersedes a previous instruction, the Agent agrees to honor and be
bound by such written instruction.

      Neither the Agent nor any of its directors, officers, agents or employees
shall be liable to the Lenders for any action taken or omitted to be taken by it
or them hereunder except for its or their own gross negligence or willful
misconduct.

      The Lenders agree to keep the Agent informed on a prompt and timely basis
of any information required by the Agent to perform its duties hereunder and
under any related documents.

      If the Agent shall request instructions from the Lenders with respect to
any act or action (including failure to act) in connection with this Pledge
Agreement or any related documents, the Agent shall be entitled to refrain from
such act or taking such action unless and until the Agent

                                       5
<PAGE>

shall have received instructions from the Required Lenders, and the Agent shall
not incur liability to any person by reason of so refraining.

      The Agent may consult with legal counsel, independent public accountants
and any other experts selected by it. Notwithstanding anything herein to the
contrary, neither the Agent nor its directors, officers, agents or employees
shall be liable for any action taken or omitted to be taken by any of them in
good faith reliance upon the advice of such persons.

      The Lenders severally (on the basis of the pro rata principal amounts of
each of the Notes) agree to reimburse and indemnify the Agent for and against
any expenses incurred by the Agent on behalf of the Lenders in connection with
the administration and enforcement of this Pledge Agreement and any related
documents and any liabilities, obligations, losses, damages, penalties, actions,
judgments, suits, costs, expenses or disbursements of any kind and nature
whatsoever which may be imposed on, incurred by or asserted against the Agent in
performing its duties hereunder or under any related documents or in any way
relating to or arising out of this Pledge Agreement or any related documents;
provided, however that the Lenders shall not be liable for any of the foregoing
to the extent they arise from the gross negligence or willful misconduct of the
Agent.

      This Agent may be removed by the Lenders at any time upon delivery of
written notice to the Agent and the Pledgor.

                  [Remainder of page left blank intentionally.]

                                       6
<PAGE>

      IN WITNESS WHEREOF, the parties hereto, intending to be legally bound,
have caused their authorized representatives to execute this Pledge Agreement
under seal as of the 8th day of March, 2000.

                                 ECHELON RESIDENTIAL
                                 HOLDINGS LLC

                                 By: /s/ James A. Coyne
                                     ------------------
                                     James A. Coyne, Member

                                 Address:  450 Carillon Parkway,
                                           Suite 200
                                           St. Petersburg, FL  33716

                                 AMERICAN INCOME PARTNERS V-A
                                 LIMITED PARTNERSHIP
                                 By:  AFG Leasing IV Incorporation, their
                                      general partner

                                      By:  /s/ Gail D. Ofgant
                                           ------------------
                                           Gail Ofgant, Senior Vice President

                                 Address:  88 Broad Street
                                           Boston, MA  02110

      The undersigned hereby acknowledges the foregoing Pledge Agreement and
consents to the terms contained therein.

                                 ECHELON RESIDENTIAL LLC
                                 By: Equis/Echelon Management Corp.,
                                     its Manager

                                     By:  /s/ Michael J. Butterfield
                                          --------------------------
                                          Michael J. Butterfield, Vice Pres.

                                 Address:  450 Carillon Parkway, Suite 200
                                           St. Petersburg, FL  33716

                                       7<PAGE>

                                                                   Exhibit 10.41

                                 March 14, 2000

  EChapman.com, Inc.
  The Chapman Co.
  World Trade Center - Baltimore
  28th Floor
  401 East Pratt Street
  Baltimore, Maryland  21201

                  Re:      EChapman.com, Inc.
                           Registration Statement on Form SB-2
                           Registration No. 333-90987
                           -----------------------------------
  Ladies and Gentlemen:

         The undersigned has been advised that EChapman.com, Inc. (the
  "Company"), is contemplating an underwritten public offering (the "Offering")
  of up to 4,000,000 shares of its common stock, $.001 par value per share (the
  "Common Stock"), pursuant to an Underwriting Agreement (the "Underwriting
  Agreement") to be entered into with The Chapman Co. (the "Underwriter") in
  connection with the Offering.

         The Company has entered into merger agreements with each of Chapman
  Holdings, Inc. ("CHI") and Chapman Capital Management Holdings, Inc. ("CCMHI")
  pursuant to which CHI and CCMHI will merge with and into separate,
  wholly-owned subsidiaries of the Company (each a "Surviving Company") and each
  share of the Common Stock of CHI and CCHMI will convert into the right to
  receive shares of the Common Stock (the "Mergers"). As a result of the
  Mergers, the undersigned will have the right to receive shares of the Common
  Stock.

         In order to induce the Underwriter to enter into the Underwriting
  Agreement with the Company, the undersigned, intending to be legally bound,
  hereby agrees that the undersigned and any entities through which the
  undersigned owns or will own any shares of Common Stock will not, without the
  prior written consent of the Underwriter, directly or indirectly, sell, offer,
  pledge, offer to sell, contract to sell, grant any option to purchase or
  otherwise transfer or dispose of (or announce any offer, sale, pledge, offer
  of sale, contract of sale, grant of an option to purchase or other transfer or
  disposition), any shares of Common Stock or any securities convertible into,
  exercisable or exchangeable for, shares of Common Stock for a period of 180
  days from the effective date of the Registration Statement; PROVIDED, HOWEVER,
  that the undersigned may sell up to 80,000 shares of the Common Stock to the
  Underwriter pursuant to the over-allotment option granted to the Underwriter
  in the Underwriting Agreement; and PROVIDED, FURTHER, that this limitation
  shall not apply to shares of the Common Stock held by CHI or its subsidiaries,
  CCMHI or its subsidiaries, or the Surviving Companies or their respective
  subsidiaries.

<PAGE>

  EChapman.com, Inc.
  March 14, 2000
  Page 2

         The undersigned acknowledges that any sale, hypothecation or transfer
  of any securities of the Company in violation of this letter will be null and
  void. The undersigned acknowledges that it is impossible to measure the
  damages that will accrue to the Company by reason of a failure of the
  undersigned to comply with the provisions of this letter. Therefore, if the
  Company shall institute any action or proceeding to enforce the provisions
  hereof, the undersigned agrees that the Company shall be entitled to
  injunctive relief, and the undersigned waives, and shall not allege, any claim
  or defense to such action or proceeding, including, without limitation, any
  claim or defense that the undersigned has an adequate remedy at law.

           Notwithstanding the foregoing, the undersigned may transfer any
  securities of the Company, either during the undersigned's lifetime or upon
  death by will or intestacy, to immediate family or to a trust the
  beneficiaries of which are exclusively the undersigned and/or a member or
  members of the undersigned's immediate family; PROVIDED, HOWEVER, that in any
  such case it shall be a condition to the transfer that the transferee execute
  an agreement stating that the transferee is receiving and holding the
  securities subject to the provisions of this letter, and there shall be no
  further transfer of such securities except in accordance with this letter. For
  purposes of this paragraph, "immediate family" shall mean spouse, former
  spouse, lineal descendant, father, mother, brother or sister of the
  undersigned.

           This letter shall have no further force or effect if the Underwriting
  Agreement is not entered into or, if the Underwriting Agreement is entered
  into, if the transactions set forth therein are not consummated.

                                                     Very truly yours,

                                                     /s/ NATHAN A. CHAPMAN, JR.
                                                     --------------------------
                                                     Nathan A. Chapman

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00005-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00005-of-00352.parquet"}]]