Document:

PROMISSORY NOTE

$1,460,799,080                                            September 22, 2000

         FOR VALUE RECEIVED, the undersigned, Conseco Finance Corp., a Delaware
Corporation (the "Borrower"), hereby promises to pay to the order of CIHC,
Incorporated, a Delaware corporation (the "Lender"), at 11825 North Pennsylvania
Street, Carmel, Indiana 46032, (i) the principal amount of One Billion Four
Hundred Sixty Million Seven Hundred Ninety Nine Thousand Eighty Dollars
($1,460,799,080), or, if less, the aggregate unpaid principal amount of each
loan or advance made by the Lender to the Borrower hereunder, in lawful money of
the United States of America in immediately available funds and (ii) interest
from April 1, 2000 on the principal amount hereof from time to time outstanding,
in like funds, at a rate per annum equal to 150 basis points in excess of the
London interbank offered rate for a three-month period, as published in The Wall
Street Journal (the "Interest Rate").

         The unpaid principal balance of this Note shall be due and payable on
March 15, 2003 and accrued and unpaid interest on the principal balance of this
Note shall be due and payable monthly in arrears on the 1st day of each month
with respect to interest accrued in the prior month, with the first interest
payment due October 1, 2000 provided that if any such payment shall conflict
with or result in a breach of or default under any other agreement to which the
Borrower is a party, the amounts then due shall accrue until the first date on
which such payment may be made without such conflict, breach or default. The
Borrower promises to pay monthly interest on any overdue principal and, to the
extent permitted by law, overdue interest from their due dates at a rate equal
to the Interest Rate plus 2.0%. This Note may be prepaid in whole or in part at
any time without premium or penalty provided that such prepayment does not
conflict with any other agreement to which the Borrower is a party.

         This Note replaces that certain Amended and Restated Promissory Note
dated May 26, 2000 by Conseco Finance Corp. payable to Conseco, Inc. in the
original principal amount of One Billion Seven Hundred Fifty Million Seven
Hundred Ninety Nine Thousand Eighty Dollars ($1,750,799,080) and that certain
Amended and Restated Promissory Note dated May 26, 2000 by the Borrower payable
to Conseco, Inc., in the original principal amount of Nine Hundred Ten Million
Dollars ($910,000,000) (together, the "Old Notes"), and the Old Notes are hereby
terminated and rendered null and void for all purposes.

         The Borrower and any and all sureties, guarantors and endorsers of this
Note and all other parties now or hereafter liable hereon, severally waive
grace, presentment for payment, protest, notice of any kind (including notice of
dishonor, notice of protest, notice of intention to accelerate and notice of
acceleration) and diligence in collecting and bringing suit against any party
hereto, and agree to all extensions and partial payments, with or without
notice, before or after maturity. The nonexercise by the holder of any of its
rights hereunder in any particular instance shall not constitute a waiver
thereof in that or any subsequent instance.

<PAGE>

         This Note shall be construed in accordance with and governed by the
laws of the State of Indiana and any applicable laws of the United States of
America. The provisions of this Note shall be binding on and inure to the
benefit of the successors and assigns of the Borrower and the Lender, including
any subsequent holders of this Note.

         In the event this Note is not paid when due at maturity, the Borrower
agrees to pay, in addition to the principal of and interest on this Note, all
costs of collection, including reasonable attorneys' fees.

         IN WITNESS WHEREOF, the Borrower has caused this Note to be executed
by its duly authorized officer as of the date first above written.

                                  CONSECO FINANCE CORP.

                                  By: /s/ James S. Adams
                                      ---------------------------------------
                                      James S. Adams, Senior Vice President
                                      and Chief Accounting OfficerSTATE OF TEXAS)

COUNTY OF DALLAS)

                 ASSIGNMENT AND ASSUMPTION OF LEASE OBLIGATIONS

     KNOW ALL MEN BY THESE PRESENTS,  THAT,  SUBJECT TO THE TERMS AND CONDITIONS
SET FORTH IN THIS ASSIGNMENT AND ASSUMPTION OF LEASE  OBLIGATIONS,  SOUTHWESTERN
FINANCIAL SERVICES CORPORATION ("ASSIGNOR"),  A DELAWARE CORPORATION, FOR AND IN
CONSIDERATION  OF THE SUM OF $10.00 IN HAND  PAID AND  OTHER  GOOD AND  VALUABLE
CONSIDERATION  FROM MIDDLEBERG,  RIDDLE & GIANNA  ("ASSIGNEE"),  A TEXAS GENERAL
PARTNERSHIP, THE RECEIPT AND SUFFICIENCY OF WHICH IS HEREBY ACKNOWLEDGED, HEREBY
ASSIGNS,  TRANSFERS AND CONVEYS UNTO ASSIGNEE,  EFFECTIVE  JUNE 10TH,  2000 (THE
"EFFECTIVE  DATE"), ALL OF ASSIGNOR'S RIGHT, TITLE AND INTEREST IN, TO AND UNDER
THAT PORTION OF A CERTAIN WRITTEN LEASE (INCLUDING ANY RENEWALS,  EXTENSIONS, OR
MODIFICATIONS  THEREOF)  ("LEASE")  DATED THE 27TH DAY OF MARCH,  1997,  BETWEEN
MAXUS TOWER LIMITED  PARTNERSHIP AS LANDLORD AND ASSIGNOR AS TENANT COVERING THE
RENTAL OF APPROXIMATELY 50,184 RENTABLE SQUARE FEET OF OFFICE SPACE CONSTITUTING
ALL OF THE 23RD AND 24TH  floors of the  Maxus  Energy  Tower at 717 N.  Harwood
Street,  Dallas, Texas ("Assigned  Premises"),  to have and to hold the same for
and  during  the  remainder  of the term of the  Lease.  Assignor  does  further
covenant  that  Assignor's  interest in the Lease is free from all other  gifts,
grants,  bargains,  sales,  leases  and  encumbrances  made  or  created  by the
Assignor,  and Assignor does further covenant, for itself and its successors and
assigns, that it will take no action and will not fail to take any action, which
action or failure to act would  cause the Lease to be  canceled  or  terminated,
without first obtaining the written consent of the Assignee.  Assignee,  for and
in consideration of such assignment by Assignor,  does hereby covenant and agree
that,  from and after the Effective  Date,  Assignee  shall assume,  perform and
release and hold Assignor  harmless from and against any and all liabilities and
obligations  of  Assignor  under the Lease  relating to the  Assigned  Premises;
provided,  however,  that  Assignee does not and shall not assume or release and
hold harmless Assignor from and against any monetary liability of Assignor under
the Lease  relating to the Assigned  Premises which accrued at any time prior to
the Effective Date.

     IN  CONSIDERATION  of the aforesaid  assignment and  Assignee's  agreement,
herewith given,  to assume and fully and completely  perform each and all of the
Lease  obligations  concerning the Assigned  Premises as set forth in the Lease,
Assignor and Assignee further agree as follows:

1.   BACKGROUND.   Assignor  and  Assignee  acknowledge  and  stipulate  to  the
     following facts:

     (A)  Assignee and  BRE/Maxus,  L.P. (the  "Landlord"),  a Delaware  limited
          partnership  which is the successor in interest to Maxus Tower Limited
          Partnership, a Texas limited partnership which was the original lessor
          under the Lease,  have  executed and  delivered  that certain  Partial
          Assumption   of  Lease  and  Lease   Amendment  No.  1  (the  "Partial
          Assumption")  pursuant  to which  Assignee  has  assumed and agreed to
          perform any and all  obligations  of Assignor under the Lease relating
          to the Assigned Premises from and after the Effective Date;

     (B)  Assignor and Landlord have negotiated to final form and have agreed to
          execute and deliver that  certain  Consent to Partial  Assignment  and
          Lease Amendment No. 1 (the "Consent")  pursuant to which Landlord will
          (i) consent to Assignor's  partial assignment of the Lease to Assignee
          relating to the Assigned Premises effective on and as of the Effective
          Date and (ii) release Assignor from any and all obligations  under the
          Lease  relating to the  Assigned  Premises  effective on and as of the
          Effective Date;

     (C)  Assignor and Assignee  previously  executed and delivered that certain
          Assignment  of Lease  dated  June 16,  2000 (the  "Prior  Assignment")
          pursuant to which  Assignor  assigned to Assignee  that portion of the
          Lease relating to the Assigned Premises; and

     (D)  Assignor  tendered to  Assignee,  and  Assignee  accepted,  the sum of
          $586,425 by check number 011382 dated June 16, 2000 in satisfaction of
          Assignor's obligations under the Prior Assignment to pay to Assignee:

          (1)  a Tenant  Improvement  Payment in the amount of $150,000 pursuant
               to section 3 of the Prior Assignment; and

          (2)  one-half of the Rent Equalization Payment of $872,850 pursuant to
               section 4 of the Prior Assignment.

2.   PRIOR  ASSIGNMENT  SUPERSEDED.  Assignor and Assignee  agree that the Prior
     Assignment is and shall be for all purposes  superseded and replaced in its
     entirety by this Assignment and Assumption of Lease  Obligations,  and that
     the  Prior  Assignment  is and  shall  be void and  shall  have no force or
     effect.

3.   COMMENCEMENT OF RENT OBLIGATION. Assignee shall be entitled to occupancy of
     the Assigned Premises from and after September 15, 2000, and shall commence
     to pay the rent under the Lease  attributable  to the Assigned  Premises on
     and after January 1, 2001. Assignee has inspected the Assigned Premises and
     accepts the  Assigned  Premises on an "AS IS" and "WITH ALL FAULTS"  basis,
     and Assignor  shall have no liability or obligation to Assignee based upon,
     relating  to or  arising  out of any  actual  or  alleged  defect  or other
     characteristic of the Leased Presmises.

4.   FURNITURE PROVISIONS.

     (A)  ASSIGNOR  SHALL LEAVE IN PLACE ON THE 23RD AND 24TH FLOORS ALL MODULAR
          FURNITURE NECESSARY TO REASONABLY FACILITATE THE NEEDS OF ASSIGNEE FOR
          BOTH THE 23RD AND 24TH FLOORS.  IN THE EVENT THAT  ADDITIONAL  MODULAR
          FURNITURE IS REQUIRED BY ASSIGNEE,  ASSIGNOR  WILL,  TO THE EXTENT AND
          ONLY TO THE EXTENT THAT SAME IS AVAILABLE FROM ITS OTHER FLOORS OR ITS
          WAREHOUSE,   PROVIDE  SUCH  ADDITIONAL  MODULAR  FURNITURE.   ASSIGNEE
          ACKNOWLEDGES  AND AGREES THAT IN CERTAIN  SITUATIONS  CERTAIN  MODULAR
          FURNITURE  CONFIGURATIONS  CURRENTLY LOCATED ON THE 23RD FLOOR WILL BE
          RELOCATED  BY  ASSIGNOR  TO OTHER  FLOORS AND  RETAINED BY ASSIGNOR IN
          ORDER TO PRESERVE AND MAINTAIN  IDENTICAL WORKING CONDITIONS FOR THOSE
          ASSIGNOR   EMPLOYEES    CURRENTLY   USING   SUCH   MODULAR   FURNITURE
          CONFIGURATIONS.  SPECIFIC TO THE 23RD floor, Assignor will provide, at
          its expense,  reasonable  rebuilding of disassembled Modular Furniture
          to the specifications of Assignee and/or Assignee's  sub-tenant.  Such
          rebuilding will be completed on or before December 01, 2000.

     (B)  The term "Modular Furniture" as used in this Assignment and Assumption
          of Lease  Obligations shall mean and include any and all components of
          the Steelcase office furniture  currently in use or held in storage by
          Assignor,  including,  but not limited  to,  chairs,  overhangs,  work
          surfaces,   integrated  file  cabinets,  and  wall  panels;  provided,
          however,  that free-standing file cabinets are not included within the
          definition of such term.

     (C)  SUBJECT  TO THE TERMS OF  ASSIGNOR'S  EXISTING  LEASE OF SUCH  MODULAR
          FURNITURE FROM STEELCASE,  ASSIGNOR AND ASSIGNEE WILL USE THEIR MUTUAL
          BEST EFFORTS,  AT THE EXPIRATION OF THE STEELCASE LEASE  CONTRACT,  TO
          RETAIN  (THROUGH  PURCHASE OR OTHERWISE)  THE MODULAR  FURNITURE  THEN
          LOCATED ON THE 23RD AND 24TH  floors  (any such  transaction  shall be
          hereinafter  referred  to  as  the  "Modular  Furniture   Retention").
          Financial  responsibility  for the Modular  Furniture  Retention,  and
          ownership  (whether  outright  or through  leasehold)  of the  Modular
          Furniture  so  retained,  shall be borne by and vested in Assignor and
          Assignee,  respectively, with respect to the Modular Furniture each of
          Assignor  and  Assignee,  respectively,  possesses  at the time of the
          Modular Furniture Retention.  By the end of January 2001, Assignor and
          Assignee will complete a written  Modular  Furniture  inventory  which
          will  specify and quantify the  inventory  of Modular  Furniture  each
          party has in its possession.

     (D)  Assignor and Assignee agree that:

          (1)  ALL KITCHEN  EQUIPMENT  CURRENTLY  LOCATED ON THE 24TH floor will
               remain in place and become the  property of Assignee on and as of
               the Effective Date;

          (2)  THE LARGE CONFERENCE ROOM TABLES AND ASSOCIATED  CHAIRS CURRENTLY
               LOCATED ON BOTH THE 23RD AND 24TH floors will remain in place and
               become the property of Assignee on and as of the Effective Date;

          (3)  THE LARGE LANDSCAPE PAINTING ARTWORK CURRENTLY LOCATED WITHIN THE
               24TH floor large  conference room will remain in place and become
               the property of Assignee on and as of the Effective Date;

          (4)  ALL CHAIRS AND TEN (10) TABLES CURRENTLY  LOCATED IN THE TRAINING
               ROOM ON THE 24TH  floor  will  remain  in place  and  become  the
               property of Assignee on and as of the Effective Date;

          (5)  ALL  FREE-STANDING  FILE  CABINETS  WILL BE REMOVED FROM BOTH THE
               23RD AND 24TH  floors and will remain the  property of  Assignor;
               and

          (6)  ALL ARTWORK AND OTHER  PROPERTY  NOT  EXPRESSLY  TRANSFERRED  AND
               ASSIGNED TO ASSIGNEE  PURSUANT TO THIS  ASSIGNMENT AND ASSUMPTION
               OF LEASE  OBLIGATIONS WILL BE REMOVED FROM BOTH THE 23RD AND 24TH
               floors and will remain the property of Assignor.

     (E)  Assignee has inspected all Modular Furniture, other furniture, kitchen
          equipment,  artwork and other  property  transferred  and  assigned to
          Assignee   pursuant  to  this   Assignment  and  Assumption  of  Lease
          Obligations,  accepts all of such property on an "AS IS" and "WITH ALL
          FAULTS"   basis,   and   acknowledges   that  Assignor  (i)  makes  no
          representations or warranties, express or implied, with respect to any
          of such property and (ii) expressly  disclaims any and all warranties,
          express  or  implied,  of  design,   quality,   workmanship,   safety,
          merchantability  or  fitness  for a  particular  or any  purpose  with
          respect to any and all of such property.

(5)  TENANT IMPROVEMENT PAYMENT. Assignor has paid to Assignee, and Assignee has
     accepted,  the Tenant Improvement Payment of $150,000 referenced in section
     1(D)(1) of this Assignment and Assumption of Lease Obligations.

(6)  RENT  EQUALIZATION  PAYMENT.  ASSIGNOR  SHALL  PAY TO  ASSIGNEE  THE SUM OF
     $872,850.00 AS CONSIDERATION FOR ASSIGNEE'S AGREEMENT TO PAY RENTAL FOR THE
     23RD AND 24TH floors under the Lease from and after  January 1, 2001 at the
     rate  specified  in the Lease and for the full term of the Lease.  Assignor
     has paid to  Assignee,  and Assignee  has  accepted,  one-half of such Rent
     Equalization  Payment as referenced in section  1(D)(2) of this  Assignment
     and  Assumption of Lease  Obligations.  Assignor  shall pay to Assignee the
     remaining  one-half  of  such  Rent  Equalization  Payment,  together  with
     interest  on such amount at the rate of 8% per annum  accruing  monthly for
     two (2) months from and after June 10, 2000, upon execution and delivery of
     this  Assignment  and  Assumption of Lease  Obligations.  In the event that
     Assignee  defaults in the full and timely  payment and  performance  of any
     liabilities or obligations  under the Lease assumed by Assignee pursuant to
     this Assignment and Assumption of Lease Obligations, such Rent Equalization
     Payment shall be returned to Assignor, pro-rated over the term of the Lease
     remaining  from and after the  Effective  Date from the actual  date of any
     such default through the end of the term of the Lease.

(7)  COMPUTER  FACILITY.  ASSIGNOR  SHALL,  FOR THE REMAINING TERM OF THE LEASE,
     PERMIT ASSIGNEE USE OF THE RAISED FLOOR COMPUTER FACILITY CURRENTLY LOCATED
     WITHIN  ASSIGNOR'S  LEASED  PREMISES ON THE 22ND FLOOR TO HOUSE AND OPERATE
     ASSIGNEE'S CURRENT HEWLETT-PACKARD  COMPUTERS AND RELATED SUPPORT SERVICES.
     ASSIGNOR AND ASSIGNEE  AGREE THAT THE SPACE UTILIZED FOR SUCH PURPOSES WILL
     BE SUCH AS TO BE MUTUALLY AND REASONABLY  AGREEABLE.  ACCESS  SECURITY THAT
     CURRENTLY  EXISTS WITH  RESPECT TO SUCH RAISED FLOOR  COMPUTER  FACILITY IS
     AGREED TO BE SUFFICIENT  FOR BOTH ASSIGNOR AND ASSIGNEE.  ASSIGNOR  FURTHER
     AGREES THAT, IN ANY EVENT OTHER THAN  TERMINATION  OF THE LEASE PURSUANT TO
     WHICH  ASSIGNOR  SHALL  CEASE TO  MAINTAIN  AND  OPERATE  THE RAISED  FLOOR
     COMPUTER  FACILITY NOW EXISTING  WITHIN  ASSIGNOR'S  LEASED PREMISES ON THE
     22ND  floor,  Assignor  shall  use its  full  best  efforts  to  facilitate
     assignment of the Lease with respect to such raised floor computer facility
     to Assignee.

     Assignee does hereby  convenant and agree for itself and for its successors
and  assigns to perform  all of the  covenants  and  obligations  required to be
performed  from and after the Effective  Date by the Tenant under the Lease with
respect to the  Assigned  Premises,  the same as if  Assignee  had been named as
Tenant therein.

         EXECUTED this 15th day of August, 2000.

ASSIGNEE:                         ASSIGNOR:
Middleberg, Riddle & Gianna       Southwestern Financial Services Corporation

By:/s/Michael L. Riddle           By:  /s/David B. Little
   --------------------                ------------------
      Michael L. Riddle                David B. Little
      Managing Partner            Its: Sr. Vice President

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