Document:

SERVICE AGREEMENT

     This  Agreement,  made  as of the 1st day of April 2002, as supplemented on
October  21,  2004  for  purposes of clarification of the intent of the original
agreement,  by  and  between  INTERVEST  NATIONAL  BANK,  a  national  banking
association  with  principal  offices  at One Rockefeller Plaza (Suite 400), New
York,  New  York  10020  ("INB"), and INTERVEST MORTGAGE CORPORATION, a New York
corporation  with  principal  offices  at One Rockefeller Plaza (Suite 400), New
York,  New  York  10020  ("IMC").

                                   WITNESSETH

     WHEREAS,  INB  desires to retain the services of IMC in accordance with the
terms  and  conditions  hereinafter  set  forth;  and

     WHEREAS,  IMC desires to perform such services in accordance with the terms
and  conditions  set  forth  herein;

     NOW,  THEREFORE,  in  consideration  of  the  mutual covenants and promises
herein  contained,  the  parties  hereto  agree  as  follows:

     1. Retention and Description of Services. INB hereby retains IMC to perform
        --------------------------------------
the  following  services:

     (a)  Mortgage Originations. IMC shall assist in identification of potential
          ----------------------
properties  and  borrowers  for  purposes  of the origination by INB of mortgage
loans  (the  "Origination Services"). The Origination Services shall include the
inspection  of  properties  constituting  collateral  for  such  loans  and  the
negotiation  of  the terms and conditions of such loans. Any such loan shall, in
all events, be subject to the approval of INB, and IMC shall, in the performance
of  its services hereunder, be guided by the mortgage investment policies of INB
as  in  effect  from  time  to  time.

     (b)  Agents.  In  the performance of its services hereunder, IMC shall have
          ------
authority  to  interact  with  attorneys,  approved  appraisers,  engineers,
environmental  consultants,  and  such  other  consultants  and  professional as
retained  by  INB.

     (c)  Mortgage  Servicing.  To  the extent requested to do so by INB for any
          -------------------
particular  mortgage,  IMC  shall  act as mortgage-servicing agent for specified
mortgages  (the  "Mortgage Servicing Services"). The Mortgage Servicing Services
shall  include  the collection of mortgages receivable, the payment of mortgages
payable, the payment of property taxes, insurance premiums and other impositions
for  the  mortgaged  premises.

     IMC  agrees  to  perform all services as may be reasonably requested by INB
hereunder  and  as  may  be  mutually  agreed  by the parties to the best of its
abilities and within reasonable time periods, and shall allocate sufficient time
and  resources  to  this  end.  Notwithstanding  the  foregoing, IMC provides no
warranties or guaranty of results with respect to any of its services, which may
be  performed  under  this  Agreement.

                                                                               1
<PAGE>
     2. Monthly Service Fee. In consideration for the Origination Services to be
        -------------------
rendered  by  IMC hereunder, INB agrees to pay IMC a monthly service fee so long
as  this  agreement  is  in  effect  that  will  be  calculated  as  follows:

     INB  will  aggregate  and  track  all Eligible Fees (as defined below) on a
monthly  basis  from loan activity for each month. Each month's service fee that
is  due  IMC  will  be calculated by taking 1/12 (one twelfth) of the sum of all
Eligible  Fees in the current month and each of the preceding eleven months. The
total  fees paid to IMC shall be limited to the total Eligible Fees collected by
INB.

     Eligible  Fees  are  defined  as  follows:

          -    All  origination  fees  collected by INB for any real estate loan
               originated  and  closed  less  $2,000  per  loan;

          -    Any extension fees (including any fee to extend open commitments)
               collected  by  INB  for  any real estate loan extended and closed
               less  $1,000  per  loan;

          -    All  origination  and/or  extension fees collected by INB for any
               real estate loan that does not close because it is withdrawn, the
               commitment  expires,  or  otherwise  less  $1,000  per  loan.

          -    For  purposes of this agreement, fees are deemed collected on the
               date  a  loan  origination/extension  closes  or when the loan is
               withdrawn,  the  commitment expires, or otherwise fails to close.

     Exhibit  A  (attached) will be prepared by INB and reported to IMC monthly.
The  monthly fee will be automatically deposited into IMC's money-market account
#  3150000059  on  or  about  the  15th  of  each  month.

     Additionally,  INB  shall  also  pay,  upon receipt of a written inspection
report, any property inspection fees and/or property re-inspection fees received
in  connection  with inspections performed by IMC. Such fees shall be payable to
IMC  when  received.

     3.  Term.  The term of this Agreement shall commence upon its execution and
         ----
shall  continue  in full force and effect through December 31, 2002, after which
time  it  shall  be  subject  to automatic annual renewals, provided that either
party  may  terminate  this  Agreement  upon  90  days  written  notice.

     4.  Termination.  In  the  event  of any termination of this Agreement, IMC
         -----------
shall  not  be  entitled  to  any  eligible  fees that have not been paid to IMC
hereunder  prior  to  the  date  of  termination  and  IMC  shall, to the extent
necessary,  cooperate  in  the transfer of any services to INB or its designated
agent.

     5.  Confidential  Information.
         -------------------------

                                                                               2
<PAGE>
     (a)  As used in this Agreement, the "Confidential Information" of one party
(the  "Party")  shall mean any information disclosed to or obtained by the other
party  ("other") as a result of the relationship between the parties existing by
virtue  of  this or any other agreement of the parties, which information is not
generally  known  in  the  trade  or  industry  in which the Party operates, and
relating  to  the  Party's  past,  present  and  future  products, processes and
services,  and  information  relating  to  the  Party's  customers,  as  well as
financial,  sales  and  business  planning  information.  The  term Confidential
Information does not include any information which the other can show was in the
public  domain  at  the time the other became aware of it, because a part of the
public  domain through no fault of the other after the other became aware of it,
or  is  disclosed  to  the  other  by  a  third  party free of any obligation of
confidence.

     (b)  The parties mutually agree to hold all Confidential Information of the
other  party  in trust and confidence, and to use it only for the benefit of the
other  party.  Unless approved by either party in writing, each party agrees not
to  disclose  any  Confidential Information of the other party by publication or
otherwise  to  any  third  party.

     6.  Liability; Indemnification. Each party shall be liable to the other for
         ---------------------------
its  own negligence, willful misconduct, bad faith, fraud and material breach of
its  obligations.  INB  shall  indemnify,  defend and hold harmless IMC from and
against  any  claims  or  actions  arising  out  of  its  performance of service
hereunder,  except  to  the  extent  such  claims  or  actions  are  due  to the
negligence,  willful  misconduct,  bad  faith  and  material  breach  of  IMC's
obligations. In any event, INB is wholly responsible for the review and analysis
of  any  third  party  reports including but not limited to credit, tax returns,
financial  statements,  environmental,  engineering  and  appraisals.

     7.  Outside Business Interest. INB acknowledges and understands that IMC is
         ---------------------------
engaged  in  a  mortgage banking business and, as such, originates mortgages for
its  own account. Both INB and IMC and their respective affiliates may engage in
or  possess  an  interest  in  other  businesses  of  any nature or description,
independently  or  with others, and the other party shall not have any rights by
virtue  of this Agreement in and to such independent businesses or the income or
profits  derived  therefrom,  and  the pursuit of any such business shall not be
deemed  wrongful  or  improper.  Neither party shall be obligated to present any
particular  business or investment opportunity, including mortgage originations,
to  the  other  party  as  a  result  of  this  Agreement.

     8.  Independent  Contractor.  The  parties agree that IMC is an independent
         -----------------------
contractor  and  shall  not  be  deemed  to  be, for any purposes whatsoever, an
employee  of  INB.

     9.  Assignment.  Neither  this  Agreement  nor any interest herein or claim
         ----------
hereunder,  may  be assigned or transferred to any third party without the prior
written  authorization  of  the  other  party  to  this  Agreement.

     10.  Governing  Law.  This  Agreement  is  made  pursuant  to, and shall be
          --------------
construed  in  accordance  with,  the  laws  of  the  State  of  New  York.

     11.  Survival.  The  rights  and obligations of the parties as set forth in
          --------
paragraphs  5  and  6  of  this  Agreement  shall survive and continue after the
expiration  or termination of this Agreement, and shall bind the parties hereto,
and  their  respective  successors  and  assigns.

                                                                               3
<PAGE>
     12. Modification. This Agreement shall be modified only by an instrument in
         ------------
writing  and  signed  by duly authorized representatives of each of the parties.

     13.  Entire  Agreement.  This  document  constitutes  the  entire agreement
          -----------------
between  the  parties  with respect to the subject matter hereof, and supersedes
all  previous  communications,  representations,  understandings and agreements,
whether  oral  or written, between the parties or any official or representative
thereof.

     14.  Force  Majeure.  Neither party to this Agreement is responsible to the
          --------------
other  party  for  nonperformance  or  delay  in  performance  of  the terms and
conditions  hereof caused or occasioned by acts of God, fires, strikes, civil or
military  authority,  insurrection,  riot, requirements of any statute, order or
directive  of any governmental authority, or, without limiting the generality of
the  foregoing,  by  any  other  similar  cause or event which is unavoidable or
beyond  the  reasonable  control  of  the  parties.

     15.  Non-Waiver. The failure of either party to insist, in any one instance
          ----------
or  more  upon  the  performance  of  any of the covenants or conditions of this
Agreement, or failure to exercise any right or privilege herein contained, shall
not  be  construed  as  a  waiver  of  any  such covenant, conditions, rights or
privileges,  but  the  same  shall continue and remain in full force and effect.

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

                                     INTERVEST NATIONAL BANK

                                     By: /s/ Raymond C. Sullivan
                                         --------------------------
                                         Raymond C. Sullivan, President

                                     INTERVEST MORTGAGE CORPORATION

                                     By: /s/ Lawrence G. Bergman
                                         --------------------------
                                         Lawrence G. Bergman, Vice President

                                                                               4
<PAGE>AGREEMENT
                                    ---------

     THIS  AGREEMENT made and entered into as of the 10th day of November by and
among  Intervest  Mortgage  Corporation,  (hereinafter  "Intervest") and John H.
Hoffmann,  (hereinafter  "Executive");

                                   WITNESSETH:
                                   ----------

     WHEREAS,  the  Board  of  Directors  of  Intervest recognizing value of the
experience  and  knowledge  of  Executive  to  business of Intervest, desires to
retain  the valuable services and business counsel of Executive, it being in the
best interest of Intervest to arrange terms of employment for Executive so as to
reasonably  induce  Executive  to  remain  in  his capacities with Intervest for
Executive's  term  hereof;  and

     WHEREAS,  Executive  is  willing  to  provide  services  to  Intervest  in
accordance  with  the  terms  and  conditions  hereinafter  set  forth;

     NOW,  THEREFORE,  for  and  in  consideration  of  the  mutual promises and
covenants  herein  contained,  the  parties  hereto  agree  as  follows:

     1.  EMPLOYMENT.  During  Executive's Employment, Intervest agrees to employ
         ----------
Executive  and  Executive  agrees  to accept such employment and to perform such
duties  and functions as the Board of Directors of Intervest, and/or Intervest's
officers  as  designated by the Board of Directors, may assign to Executive from
time to time, but only administrative and managerial functions commensurate with
Executive's  past  experience and performance level. As directed by the Board of
Directors,  he shall perform such duties at the offices of Intervest in New York
City.

     Responsibility  for  the supervision of Executive shall rest with the Board
of  Directors  of  Intervest  and  its  Executive  Committee,   which   shall
review  Executive's performance regularly.   The Board of Directors of Intervest
shall  have  the  authority  to  terminate  Executive, subject to the provisions
outlined  in  Section  6  of  this  Agreement.

     2.  TITLE.  Executive  shall  serve  as  Vice  President  of  Intervest.
         -----

     3.  TERM  OF  EMPLOYMENT.  Executive's  Employment referred to in Section 1
         --------------------
hereof  shall  commence  on  January  1,  2005,  and, subject to the termination
provisions set forth below, shall end December 31, 2005, provided, however, that
if (a) Executive advises Intervest in writing on or before September 1, 2005, of
his  desire  to  extend the term of the Agreement and (b) Intervest communicates
its consent to such extension in writing to Executive on or before September 30,
2005, then the Agreement shall continue upon the same terms and conditions for a
further  one-year  period until December 31, 2006, renewable by the parties from
year  to  year  thereafter  pursuant  to the same procedure described herein. If
Intervest  shall  decide  not  to extend this Agreement, the denial shall not be
construed  as  a  termination  pursuant  to  Paragraph  6  below.

     4.  ANNUAL  COMPENSATION.
         --------------------

     4.1  Base Salary. During Executive's Employment, Executive shall be paid an
          ------------
annual  base  salary  (hereinafter  "Base  Salary") which shall be paid in equal
installments  in  accordance  with  Intervest's

                      /s/ LSD            /s/  JH
                     ----------          --------
                        LSD             Executive

                                        1
<PAGE>
normal  pay practices, but not less frequently than monthly.  Executive's annual
Base  Salary  shall  be  $95,000.  Any  increases  to  the  Base  Salary  during
Executive's  Employment  are  at  the  discretion  of  the Board of Directors of
Intervest.

     4.2  Bonus.  During  Executive's  Employment and in addition to Executive's
          -----
Base  Salary,  Executive may receive a bonus payment payable prior to the end of
each  applicable  calendar  year.  The granting of any such bonus is at the sole
discretion  of  the  Board  of  Directors  of  Intervest.

     4.3  Additional Benefits. During Executive's Employment, Executive shall be
          --------------------
provided  with  such  employee benefits and benefit levels, including health and
life  insurance, etc. as may be provided by the Board of Directors of Intervest.
The  employee  benefits  shall be provided and maintained at a level of not less
than  what  is in effect at the time this Agreement is executed. Executive shall
be  entitled  to  participate  in  any  qualified or unqualified pension, profit
sharing  or  other  employee  benefit  plan  adopted  by  Intervest hereinafter.

     Throughout  Executive's  Employment,  Executive  shall  also be entitled to
reimbursement  for  reasonable  business  expenses  incurred  by  him  in  the
performance  of his duties hereunder, as approved from time to time by the Board
of  Directors  of  Intervest.

     5.  CHANGE  IN  CONTROL  OF  INTERVEST.
          ----------------------------------

     (a)  In the event of a "change in control" of Intervest, as defined herein,
Executive  shall  be  entitled,  for  a  period of one (1) year from the date of
closing of the transaction effecting such change in control and at his election,
to  give  written  notice  to  Intervest of termination of this Agreement and to
receive  a  lump  sum  cash  payment  as  follows:

     In  the event of a change of control during the first six (6) months of the
Agreement,  Executive  will  be  entitled to an amount equal to compensation, as
outlined  in  Section  4  of  this  Agreement,  at  Executive's  then  current
compensation  level,  for the balance of the Agreement through December 31, 2005
plus  a  bonus  of  six  (6)  months compensation and, in the event of change of
control following the first six (6) month period, Executive shall be entitled to
an  amount  equal  to  compensation  for  the  balance  of the Agreement through
December  31,  2005  plus  a  bonus  of  three  (3)  months  compensation.

     (b)  The severance payments provided for in this Section 5 shall be paid by
Intervest  not  later than ten (10) days after the date of notice of termination
by  Executive under this Section 5 or ten (10) days after the date of closing of
the  transaction  effecting  the  change  in  control of Intervest, whichever is
later.

     (c)  For purposes of this Section 5, "change in control" of Intervest shall
mean:

          (i)  any  transaction,  whether  by merger, consolidation, asset sale,
               tender  offer, reverse stock split or otherwise, which results in
               a  reduction in the combined ownership of the Dansker and Bergman
               families  to less than 10% of the aggregate outstanding shares of
               all classes of stock and warrants of Intervest's Holding Company;
               or

          (ii) if  none  of  Lawrence  G.  Bergman,  Jerome Dansker or Lowell S.
               Dansker  is a member of the Board of Directors of Intervest or of
               Intervest's  Holding  Company;  or

                      /s/ LSD            /s/  JH
                     ----------          --------
                        LSD             Executive

                                        2
<PAGE>
          (iii) the sale of all or substantially all of the assets of Intervest
                or  Intervest's  Holding  Company;  or

          (iv)  the liquidation  of  Intervest  or  Intervest's Holding Company.

     6.  TERMINATION.
         -----------

     6.1  For  Cause. This Agreement may be terminated by the Board of Directors
          ----------
of  Intervest  without  notice  and  without  further  obligation other than for
accrued  and  unpaid  compensation,  for  any  of  the  following  reasons:

     (a) failure of Executive to follow reasonable directions or policies of the
Board  of  Directors  of  Intervest  or  its  Executive  Committee;  or

     (b) gross negligence or willful misconduct of Executive materially damaging
to  the  business  of  Intervest  during  the  Executive's  Employment;  or

     (c)  conviction  of  the  Executive  during the Executive's Employment of a
crime  involving  breach  of  trust  or  moral  turpitude.

     In  the  event  that  Intervest discharges Executive alleging "cause" under
this  Section  6.1  and  it  is  subsequently  determined  judicially  that  the
termination was "without cause", then such discharge shall be deemed a discharge
without  cause  subject  to  the  provisions  of  Section  6.2  hereof.

     6.2  Without  Cause. Intervest may, upon thirty (30) days written notice to
          --------------
Executive,  terminate  this  Agreement  without  cause  at  any  time during the
Executive's  Employment  upon the condition that Executive shall be entitled, as
liquidated  damages  in  lieu  of  all  other  claims, to a severance payment as
follows:

     In  the  event of termination without cause during the first six (6) months
of the Agreement, Executive will be entitled to an amount equal to compensation,
as  outlined  in  Section  4  of  this  Agreement,  at  Executive's then current
compensation  level, for the balance of the Agreement through December 31, 2005,
plus  a  bonus  of  six (6) months compensation and, in the event of termination
without  cause  following  the  first  six  (6) month period, Executive shall be
entitled  to  an  amount  equal to compensation for the balance of the Agreement
through  December  31, 2005, plus a bonus of three (3) months compensation.  The
severance  payment  provided  for in this Section 6.2 shall be paid by Intervest
not  later  than  thirty  (30)  days  after  the  actual  date of termination of
employment  of  Executive.

     7.  ENTIRE  AGREEMENT.  This  Agreement  constitutes  the  entire agreement
         -----------------
between the parties hereto regarding the employment of Executive, and supersedes
and  replaces  all  prior  agreements  and  understandings,  whether  written or
unwritten,  relating  thereto.

     8.  ASSIGNMENT.  Neither  of  the  parties hereto may assign this Agreement
         ----------
without  the  prior  written  consent  of  the  other  party  hereto.

     9.  SEVERABILITY. Each section and subsection of this Agreement constitutes
         ------------
a  separate  and  distinct  understanding, covenant and provision hereof. In the
event  that  any  provision  of this Agreement shall finally be determined to be
unlawful,  such provision shall be deemed to be severed from this Agreement, but
every  other  provision of this Agreement shall remain in full force and effect.

                      /s/ LSD            /s/  JH
                     ----------          --------
                        LSD             Executive

                                        3
<PAGE>
     10.  GOVERNING  LAW.  This  Agreement shall in all respects be interpreted,
          --------------
construed  and  governed  by and in accordance with the laws of the State of New
York.

     11.  RIGHTS  OF  THIRD  PARTIES.  Nothing  herein  expressed  or implied is
          --------------------------
intended  to or shall be construed to confer upon or give to any person, firm or
other  entity,  other  than  the parties hereto and their permitted assigns, any
rights  or  remedies  under  or  by  reason  by  this  Agreement.

     12.  AMENDMENT.  This  Agreement  may  not be amended orally but only by an
          ---------
instrument  in  writing  duly  executed  by  the  parties  hereto.

     13.  NOTICES.  Any  notice  or other document or communication permitted or
          -------
required  to  be given to Executive pursuant to the terms hereof shall be deemed
given  if  personally  delivered to Executive or sent to him postage prepaid, by
registered  or  certified mail, at New York, New York, or any such other address
as  Executive  shall  have  notified  Intervest  in writing. Any notice or other
document  or  other communication permitted or required to be given to Intervest
pursuant  to  the  terms hereof shall be deemed given if personally delivered or
sent  to  Chairman  of  the Board, 1 Rockefeller Plaza, Suite 400, New York, New
York  10020-2002,  postage  prepaid,  by registered or certified mail or at such
other  address  as  Intervest  shall  have  notified  Executive  in  writing.

     14.  WAIVER. The waiver by either party hereto of a breach of any provision
          ------
of  this Agreement by the other shall not operate or be construed as a waiver of
any  subsequent  breach  of the same or any other provision of this Agreement by
the  breaching  party.

                                         INTERVEST

/s/ Sally Wang                           By: /s/ Lowell S. Dansker
------------------------------              ------------------------------------
Attest                                      Lowell S. Dansker, President
Sally  Wang

                                         EXECUTIVE

/s/  Sally  Wang                            /s/ John  H Hoffmann
------------------------------              ------------------------------------
Attest                                      John  H.  Hoffmann
Sally  Wang

                                        4
<PAGE>

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