Document:

Exhibit 10.1

                             PUT AND SALE AGREEMENT
                             ----------------------

      THIS PUT AND SALE  AGREEMENT  (this  "Agreement"),  dated as of August 17,
2005, is made and entered into by and between  KNIGHT  FULLER,  INC., a Delaware
corporation  ("KF"), and OPUS  INTERNATIONAL,  LLC, a Maryland limited liability
company ("Opus"), with reference to the following facts:

                                    RECITALS:

      WHEREAS,  KF and Opus are  parties  to the  Agreement  and Plan of Merger,
dated as of August 17, 2005, among KF, Opus,  CenterStaging Musical Productions,
Inc. ("CMPI") and the other parties identified therein (the "Merger Agreement");
and

      WHEREAS,  KF owns all of the  outstanding  shares of  capital  stock  (the
"Stock") of PayCell, Inc., a California corporation ("PayCell"); and

      WHEREAS, KF is indebted to Opus and its affiliates and associates; and

      WHEREAS,  KF and Opus  agreed in the  Merger  Agreement  to enter  into an
agreement under which KF, at its election, could sell to Opus, and cause Opus to
purchase and  acquire,  all of the Stock in exchange  for all  indebtedness  and
other amounts owed by KF to Opus; and

      WHEREAS,  CMPI's  obligations  under the Merger  Agreement are conditional
upon KF and Opus entering into this Agreement.

      NOW, THEREFORE,  in consideration of the parties' entering into the Merger
Agreement,  and as a condition to CMPI's obligations thereunder,  and the mutual
covenants set forth herein, KF and Opus hereby agree as follows:

1.    Option to Put the Stock

      (a)   Opus hereby grants to KF the right and option, at KF's election (the
"Put  Option"),  to sell and assign to Opus, and to require Opus to purchase and
acquire  all (but not less than all) of the Stock,  free and clear of all liens,
claims and encumbrances,  in consideration and in exchange for all (but not less
than all) of the Debt of KF or any  subsidiary  of KF to Opus as of the  Closing
Date,  including without  limitation the amounts described in Schedule A to this
Agreement,  and all interest,  fees and charges accruing on such amounts through
the Closing  Date (the "Opus  Indebtedness").  For  purposes of this  Agreement,
"Debt" shall mean: (i)  indebtedness or liability for borrowed money, or for the
deferred purchase price of property or services  (including trade  obligations);
(ii) obligations as lessee under capital leases; (iii) obligations under letters
of credit issued; (iv) all obligations evidenced by bonds, debentures,  notes or
other similar  instruments;  (v) all  guarantees,  endorsements  (other than for
collection or deposit in the ordinary course of business),  and other contingent
obligations to purchase any item included in this  definition,  to provide funds
for payment,  to supply funds to invest in any Person,  or otherwise to assure a
creditor  against loss; and (vi) all interest,  fees,  charges and other amounts
accruing with respect to any of the foregoing.

<PAGE>

      (b)   The Put Option may be  exercised by notice to Opus at any time on or
before the first annual anniversary of the date of this Agreement,  which notice
shall set forth the date (the "Closing  Date"),  time and place,  which shall be
mutually  convenient to the parties,  of the closing of the sale and purchase of
the Stock.  At the closing,  KF shall  deliver to Opus one or more  certificates
evidencing  the Stock,  along  with duly  executed  stock  powers,  against  the
delivery  by Opus  of:  (a)  all  evidences  of the  Opus  Indebtedness,  marked
cancelled,  and (b) duly executed  instruments  of assignment,  cancellation  or
termination  respecting the Opus Indebtedness as KF shall reasonably  request in
order to fully effectuate the exchange and cancellation of the Indebtedness.

      (c)   Each  party  shall  bear  and  pay  its  own  expenses  incurred  in
connection with this Agreement and the transactions  contemplated hereby. Should
either party fail to purchase or sell, as the case may be, the Stock as provided
herein,  time being of the essence, in addition to all other rights and remedies
that may be available  to the other party in such event,  the  defaulting  party
shall be liable  for all loss,  liability,  and  expense  incurred  by the other
party,  including,   without  limitation,   attorneys'  fees  and  expenses,  in
connection with the proposed  purchase and sale of the Stock.  In addition,  the
parties  acknowledge  and agree  that,  in view of the  reliance  and  change of
position which must  necessarily  result from KF's notice of exercise of the Put
Option hereunder and the fact that the damages which would result from a default
by Opus in its obligation to consummate such a purchase or sale are uncertain in
amount and cannot be determined with certainty, the provisions of this Agreement
shall be specifically enforceable by each party.

2.    Representations and Warranties of KF

      KF hereby  represents and warrants to Opus that the following are true and
correct  as of the date  hereof and will be true and  correct as of the  Closing
Date, if any, hereunder:

      (a)   KF is,  and will be,  the sole  legal  and  beneficial  owner of the
Stock.

      (b)   Except for  restrictions  imposed under federal or state  securities
laws applicable to securities generally, there are, and will be, no restrictions
on the transfer of the Stock,  and KF has, and will have,  the right to transfer
the  Stock  to  Opus  in the  event  of  KF's  exercise  of the  Put  Option  as
contemplated herein, without the consent, permission, waiver or any other act of
any other person.

      (c)   This Agreement  constitutes,  and will constitute,  the legal, valid
and binding  obligation of KF,  enforceable  against KF in  accordance  with its
terms.

      (d)   The Stock is not,  and will not be,  subject to any liens,  security
interests, claims or encumbrances whatsoever.

      (e)   The execution,  delivery and performance of this Agreement by KF are
not, and will not be, in violation of any indenture, agreement or undertaking to
which KF is a party or by which KF or the Stock is bound or otherwise affected.

                                       2
<PAGE>

      Except for the foregoing, KF makes no representation or warranty regarding
the  Stock,  the  sale of the  Stock,  or the  business,  operations,  financial
condition,  results of operations,  assets,  liabilities,  rights, properties or
prospects of PayCell. Without limiting the generality of the foregoing, KF makes
no  representation  that the value  equals  or  exceeds  the  amount of the Opus
Indebtedness. Opus acknowledges that it is willing to enter into this Agreement,
and  acquire  the  Stock,   to  facilitate  the  closing  of  the   transactions
contemplated  by  the  Merger   Agreement  and  irrespective  of  the  financial
condition, results of operations and value of PayCell.

3.    Representations and Warranties of Opus

      Opus hereby  represents and warrants to KF that the following are true and
correct  as of the date  hereof and will be true and  correct as of the  Closing
Date, if any, hereunder:

      (a)   Opus is, and will be, the sole legal and beneficial holder of the
Indebtedness  and has not,  and  will not  have,  sold,  transferred,  assigned,
conveyed,  pledged or  hypothecated  any of the  Indebtedness,  or any  interest
therein, directly or indirectly, to any person.

      (b)   This Agreement  constitutes,  and will constitute,  the legal, valid
and binding obligation of Opus,  enforceable against Opus in accordance with its
terms.

      (c)   The  execution,  delivery and  performance of this Agreement by Opus
are  not,  and  will  not  be,  in  violation  of any  indenture,  agreement  or
undertaking to which Opus is a party or by which Opus or any of the Indebtedness
is bound or affected.

      (d)   Schedule  A truly  and  accurately  describes  all Debt of KF or any
subsidiary  of KF to Opus or any of  Opus's  affiliates  as of the  date of this
Agreement,  including  without  limitation  the  principal  amount,  the rate of
interest,  the maturity date, payment requirements,  other fees and charges that
may become payable, and other material terms of such indebtedness. Except as set
forth in Schedule A, neither KF nor any subsidiary of KF has any Debt to Opus or
any  affiliate  of  Opus,   whether   absolute  or  contingent,   liquidated  or
unliquidated, or matured or unmatured.

4.    Release.  Opus,  on behalf of itself and its  affiliates,  successors  and
assigns (collectively,  the "Opus Parties"),  hereby releases,  remises, acquits
and forever  discharges,  and agrees to indemnify and hold harmless,  KF and its
subsidiaries  and their  successors and assigns,  (collectively,  "KF Parties"),
from and  against any and all claims,  demands,  obligations,  causes of action,
debts, expenses,  damages, judgments, orders and liabilities of whatever kind or
nature, in law, equity or otherwise,  whether now known or unknown, suspected or
unsuspected,  matured or unmatured,  and whether concealed or hidden,  which the
Opus  Parties  now own or hold or have at any time  heretofore  owned or held or
had, or may at any time own or hold or have, relating to Debt of any KF Party.

5.    Survival of Representations and Warranties

      (a)   The representations and warranties of the parties contained in this
Agreement shall survive the Closing Date.

      (b)   Each party shall indemnify,  reimburse, defend and hold harmless the
other party and its affiliates,  successors or assigns for any and all direct or
indirect  claims,   losses,   liabilities,   damages   (including   special  and
consequential  damages),  costs (including court costs) and expenses,  including
all reasonable  attorneys' fees and expenses  arising from or in connection with
(i) any breach or  inaccuracy of any  representation  or warranty of such party,
whether  such  breach  or  inaccuracy  exists  or is  made  on the  date of this
Agreement or as of the Closing Date, or (ii) any breach of or  noncompliance  by
such party of or with any covenant or agreement  contained in this  Agreement or
in any other agreement or instrument delivered in connection herewith.

                                       3
<PAGE>

6.    Miscellaneous

      (a)   All  notices  or  communications   hereunder  shall  be  in  writing
(including facsimile or similar writing) addressed as follows:

To Opus:                            Opus International, LLC
                                    190 North Canon Drive, Suite 420
                                    Beverly Hills, California 90210
                                    Attention: Managing Member
                                    Facsimile No: (818) 762-1302

with a copy (which shall not        Kenneth G. Eade, Esq.
constitute notice hereunder) to:    190 North Canon Drive, Suite 420
                                    Beverly Hills, California 90210
                                    Facsimile No: (805) 456-0122

To KF:                              c/o CenterStaging Musical Productions, Inc.
                                    3407 Winona Avenue
                                    Burbank, California 91504
                                    Attention: Howard Livingston
                                    Facsimile No.:  (818) 848-4016

with a copy (which shall not        Troy & Gould Professional Corporation
constitute notice hereunder) to:    1801 Century Park East
                                    Los Angeles, California 90067
                                    Attention:  Alan B. Spatz, Esq.
                                    Facsimile No:  (310) 789-1431

Any such notice or communication shall be deemed given (i) when made, if made by
hand delivery, and upon confirmation of receipt, if made by facsimile,  (ii) one
business day after being deposited with a next-day courier,  postage prepaid, or
(iii) three business days after being sent certified or registered mail,  return
receipt requested,  postage prepaid, in each case addressed as above (or to such
other address as such party may designate in writing from time to time).

      (b)   If any provision of this  Agreement  shall be declared to be invalid
or unenforceable, in whole or in part, such invalidity or unenforceability shall
not affect the remaining  provisions hereof which shall remain in full force and
effect.

      (c)   This Agreement shall be binding upon and inure to the benefit of the
parties hereto and their respective heirs, legal representatives, successors and
assigns; provided, however, that neither this Agreement nor any rights hereunder
shall be assignable or otherwise  subject to hypothecation and any assignment in
violation hereof shall be null and void.

                                       4
<PAGE>

      (d)   The headings  contained in this Agreement are for reference purposes
only and  shall not  affect in any way the  meaning  or  interpretation  of this
Agreement.

      (e)   This Agreement may be executed in one or more  counterparts,  all of
which shall be considered one and the same Agreement, and shall become effective
when one or more such  counterparts  have been signed by each of the parties and
delivered to each party.

      (f)   This Agreement  represents the entire  agreement of the parties with

respect to the subject  matter  hereof and shall  supersede any and all previous
contracts,  arrangements  or  understandings  between  the  parties  hereto with
respect to the subject matter hereof.

      (g)   This  Agreement  shall be  construed,  interpreted  and  governed in
accordance with the laws of California,  without  reference to rules relating to
conflicts  of law.  Each  party  hereby  irrevocably  submits  to the  exclusive
jurisdiction  of the state  and  federal  courts  sitting  in the  County of Los
Angeles,  California,  for  the  adjudication  of any  dispute  hereunder  or in
connection  herewith or with any  transaction  contemplated  hereby or discussed
herein,  and hereby  irrevocably  waives,  and agrees not to assert in any suit,
action  or  proceeding,  any  claim  that  is  not  personally  subject  to  the
jurisdiction  of any such  court,  or that such suit,  action or  proceeding  is
improper.  Each party hereby  irrevocably waives personal service of process and
consents  to process  being  served in any such suit,  action or  proceeding  by
mailing a copy thereof to such party at the address for such notices to it under
this Agreement and agrees that such service shall constitute good and sufficient
service of process and notice thereof.  Nothing contained herein shall be deemed
to limit in any way any right to serve  process in any manner  permitted by law.
EACH PARTY HEREBY  IRREVOCABLY  WAIVES ANY RIGHT IT MAY HAVE,  AND AGREES NOT TO
REQUEST,  A JURY  TRIAL FOR THE  ADJUDICATION  OF ANY  DISPUTE  HEREUNDER  OR IN
CONNECTION  HEREWITH  OR  ARISING  OUT OF  THIS  AGREEMENT  OR  ANY  TRANSACTION
CONTEMPLATED HEREBY.

      (h)   If any action or  proceeding,  including  an action for  declaratory
relief, is brought to enforce or interpret any provision of this Agreement,  the
prevailing  party shall be entitled to recover  reasonable  attorneys'  fees and
expenses from the other party,  which fees and expenses  shall be in addition to
any other relief, which may be awarded.

      (i)   No person or entity  other than the  parties  hereto is an  intended
beneficiary of this Agreement or any portion hereof.

      (j)   This  Agreement  may be  amended or  supplemented  only in a writing
signed by KF and Opus.

      (k)   No  failure  or delay by any party  hereto in  exercising  any right
hereunder  shall  operate as a waiver  thereof,  nor shall any single or partial
exercise  thereof preclude any other or further exercise thereof or the exercise
of any other right hereunder. Any agreement on the part of a party hereto to any
such  extension or waiver shall be valid only if set forth in an  instrument  in
writing signed on behalf of such party.

                                       5
<PAGE>

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

                                    KNIGHT FULLER, INC.

                                    By: /s/ Ronald Pienaar
                                        -----------------------------
                                        Name:  Ronald Pienaar
                                        Title: President

                                    OPUS INTERNATIONAL, LLC

                                    By: /s/ Stephen Hallock
                                        -----------------------------
                                        Name:  Stephen Hallock
                                        Title: Managing Member

                                       6
<PAGE>

                                    GUARANTEE

      The undersigned hereby  unconditionally  guarantees to Knight Fuller, Inc.
and its successors and assigns the due and punctual  payment and  performance of
each and every obligation of Opus International,  LLC evidenced by the foregoing
Agreement and any other document executed thereby pursuant thereto.

                                    /s/  ZIRK ENGELBRECHT
                                    ---------------------------------
                                    ZIRK ENGELBRECHT

                                       7
<PAGE>

                                   Schedule A

                           Description of Indebtedness

KF is  indebted  to Opus in the  principal  amount of  $857,601.18.  The loan is
payable on demand and bears no interest.

                                       8Exhibit 10.2

                             FORM OF PROMISSORY NOTE

THIS CONVERTIBLE  PROMISSORY NOTE HAS BEEN ACQUIRED FOR INVESTMENT PURPOSES ONLY
AND NOT FOR DISTRIBUTION AND MAY BE TRANSFERRED OR OTHERWISE DISPOSED OF ONLY IN
COMPLIANCE WITH THE SECURITIES ACT OF 1933, AS AMENDED (THE "ACT").  THIS LEGEND
SHALL BE ENDORSED UPON ANY  CONVERTIBLE  PROMISSORY  NOTE ISSUED IN EXCHANGE FOR
THIS CONVERTIBLE PROMISSORY NOTE.

                     CENTERSTAGING MUSICAL PRODUCTIONS, INC.

                              _______________, 200_

                                                                       $--------

                           CONVERTIBLE PROMISSORY NOTE

                              Due December 31, 2005

      CENTERSTAGING  MUSICAL  PRODUCTIONS,  INC., a California  corporation (the
"Company"), for value received, hereby promises to pay to_______________________
or  registered  assigns (the  "Holder")  on the 31st day of December,  2005 (the
"Maturity  Date") at the offices of the Company,  3407 Winona  Avenue,  Burbank,
California,  91540 the principal sum of ____________________ Dollars ($_____) in
such coin or currency of the United  States of America as at the time of payment
shall be legal  tender for the  payment of public and  private  debts and to pay
simple interest on said principal sum at the rate of ten percent (10%) per annum
from the date  hereof  through the  Maturity  Date.  Interest  on the  principal
balance of this  Convertible  Promissory  Note ("Note")  shall be payable on the
Maturity Date.

      1.  Registered  Owner.  The Company may  consider  and treat the person in
whose name this Note shall be registered  as the absolute  owner thereof for all
purposes  whatsoever (whether or not this Note shall be overdue) and the Company
shall not be affected by any notice to the  contrary.  The  registered  owner of
this Note shall have the right to transfer it by assignment  and the  transferee
thereof,  upon his  registration as owner of this Note, shall become vested with
all the powers and rights of the transferor. Registration of any new owner shall
take place upon presentation of this Note to the Company at its offices together
with  the  Note  Assignment  Form  attached  hereto  duly  executed.  In case of
transfers by operation of law, the  transferee  shall notify the Company of such
transfer and of his address, and shall submit appropriate evidence regarding the
transfer so that this Note may be registered in the name of the transferee. This
Note is  transferable  only on the  books of the  Company  by the  Holder on the
surrender  hereof,  duly endorsed.  Communications  sent to any registered owner
shall be  effective  as  against  all  holders or  transferees  of this Note not
registered at the time of sending the communication.

<PAGE>

      2. Conversion.

            2.1  Definitions.  For purposes of this Note,  the  following  terms
shall have the meanings set forth below:

                  (a) "Common  Stock" shall mean the Common Stock of the Company
or,  if the  Company  completes  a  Reverse  Merger,  the  Common  Stock  of the
Successor.

                  (b) "Common Stock Equivalents" of any entity at any date shall
mean the sum of:  (i) the  number  of  shares  of  common  stock of such  entity
outstanding on such date, plus (ii) the number of shares of common stock of such
entity which may be acquired upon  exercise or  conversion of Stock  Equivalents
outstanding  on such  date  (ignoring  for  this  purpose  vesting  and  similar
conditions).

                  (c)  "Conversion  Date"  shall  mean the first to occur of the
following:  (i) the  closing  of a  Public  Offering;  or  (ii)  if the  Company
completes a Reverse  Merger,  the 20th trading day  following the closing of the
Reverse  Merger  unless  the  number  of  outstanding  shares  of  Common  Stock
Equivalents  of the  Successor  on the closing of the Reverse  Merger is greater
than 40 million, then the date which is the earlier of 120 days from the closing
of the Reverse  Merger or the 20th trading day  following a reverse  stock split
effected by the Successor.

                  (d)  "Conversion  Period" shall mean the period  commencing on
the Conversion  Date and expiring at 5:00 P.M.,  P.S.T.,  on the day immediately
preceding the Maturity Date.

                  (e)  "Conversion  Price" shall mean 50% of the Market Price of
the Common Stock as of the Conversion Date.

                  (f) "Conversion  Stock" shall mean the Common Stock into which
this Note can be converted.

                  (g) "Existing  Shareholders"  shall mean Johnny  Caswell,  Jan
Parent, Roger Paglia and Howard Livingston.

                  (h) "Market  Price" of the Common Stock shall mean: (i) if the
Conversion  Date  occurs  because  of a Public  Offering,  the per  share  gross
offering price for the Common Stock as set forth in the final prospectus for the
Public  Offering;  or (ii) if the  Conversion  Date occurs  because of a Reverse
Merger, the average of the per share closing sales prices (or average of bid and
asked  prices if no sales price is  available)  of the Common  Stock for the ten
trading days ending on the Conversion Date as reported on a service  selected by
the Company.

                  (i) "Public Offering" shall mean a firmly  underwritten public
offering of Common  Stock by the Company  pursuant to a  registration  statement
filed with the SEC pursuant to the Securities Act.

                  (j)  "Reverse  Merger"  shall  mean  the  merger  between  the
Company, on one hand, and the Successor or a subsidiary of the Successor, on the
other hand,  pursuant to which the shareholders of the Company receive shares of
capital  stock of the  Successor  and the Company  becomes a  subsidiary  of the
Successor.

                                       2
<PAGE>

                  (k) "SEC" shall mean the Securities and Exchange Commission.

                  (l) "Securities Act" shall mean the Securities Act of 1933, as
amended.

                  (m) "Stock Equivalents" shall mean options,  warrants,  calls,
rights,  commitments,  convertible  securities and other securities  pursuant to
which the holder,  directly  or  indirectly,  has the right to acquire  (with or
without additional consideration) Common Stock.

                  (n) "Successor" shall mean a corporation whose common stock is
registered under Section 12 of the Securities  Exchange Act of 1934, as amended,
which  acquires the Company  through the Reverse  Merger and issues its stock to
the stockholders of the Company in the Reverse Merger.

            2.2 Holder Conversion Right. Subject to the terms hereof, during the
Conversion  Period,  the  Holder  shall  have  the  right  to  convert  the then
outstanding  principal  amount of this Note,  together with any accrued interest
hereon,   into  shares  of  Conversion   Stock,  at  the  Conversion  Price,  by
presentation and surrender to the Company, at its then principal office, of this
Note  together with the Note  Conversion  Form  attached  hereto duly  executed.
Subject to the terms  hereof,  upon  receipt by the Company of this Note and the
Note Conversion Form, duly executed at its office, the Holder shall be deemed to
be the holder of record of the shares of  Conversion  Stock  issuable  upon such
conversion,  notwithstanding that the stock transfer books of the Company or the
Successor,  as the  case  may be,  shall  then be  closed  or that  certificates
representing such shares shall not then be actually delivered to the Holder.

            2.3 Company Conversion Right.

                  (a) During the Conversion  Period,  the Company shall have the
right to cause the Holder to convert the then  outstanding  principal  amount of
this Note,  together with any accrued interest hereon,  into Conversion Stock at
the Conversion Price.

                  (b) The foregoing conversion privilege may be exercised during
the  Conversion  Period by  written  notice by the  Company to the Holder at the
address  for the  Holder  in the  Company's  records  (the  "Company  Conversion
Notice").  Upon  mailing by the Company of the Company  Conversion  Notice,  the
Holder  shall be deemed to have duly  converted  the  amount of the  outstanding
principal  amount of this Note  indicated  thereon,  together  with any  accrued
interest  thereon,  into Conversion  Stock at the Conversion  Price. No interest
shall  accrue on this Note from and after the mailing of the Company  Conversion
Notice.  Promptly following receipt of the Company Conversion Notice, the Holder
shall thereupon  deliver this Note to the Company for  cancellation.  Subject to
the terms hereof, upon delivery by the Company of the Company Conversion Notice,
the  Holder  shall be  deemed  to be the  holder  of  record  of the  shares  of
Conversion Stock issuable upon such conversion,  notwithstanding  that the stock
transfer books of the Company or the  Successor,  as the case may be, shall then
be  closed  or that  certificates  representing  such  shares  shall not then be
actually delivered to the Holder.

                                       3
<PAGE>

            2.4 Minimum/Maximum Conversion Shares. Notwithstanding any provision
of this Note to the contrary,  each $1,000  principal  amount of this Note shall
not convert into more than .0027% or less than .0022% of the number of shares of
Common Stock  Equivalents that the Existing  Shareholders hold in the Company or
the Successor, as the case may be, as of the Conversion Date, excluding for this
purpose shares of Common Stock of the Company and the Successor, as the case may
be, issued to the Existing  Shareholders (or their affiliates) after the date of
this Note for cash  consideration  not less  than 80% of the fair  value of such
shares as  determined  in good faith by the Board of Directors of the Company or
Successor, as the case may be.

            2.5 Reservation of Shares. The Company will at all times reserve, or
cause the  Successor to reserve,  for issuance and delivery  upon  conversion of
this Note all shares of Conversion Stock or other shares of capital stock of the
Company or the Successor  (and other  securities and property) from time to time
receivable upon conversion of this Note.

            2.6 Fractional  Shares.  Neither the Company nor the Successor shall
be required to issue certificates representing fractions of shares, nor shall it
be required to issue scrip or pay cash in lieu of fractional interests, it being
the intent of the Company and the Holder that all fractional  interests shall be
eliminated.

            2.7 Rights of the Holder. The Holder shall not, by virtue hereof, be
entitled to any rights of a shareholder of the Company or the Successor,  either
at law or in equity, and the rights of the Holder are limited to those expressed
in this Note.

      3.  Covenant  re  Reverse  Merger.  The  Company  agrees  that it will not
complete a Reverse Merger unless the Successor  either  assumes all  obligations
and  liabilities  of the Company under this Agreement or becomes a co-obligor of
the  Company  of the  obligations  and  liabilities  of the  Company  under this
Agreement.

      4. Investment  Intent. The Holder hereby represents and warrants that this
Note is being acquired, and the Conversion Stock issuable upon the conversion of
this Note will be acquired,  for investment  purposes only and without a view to
the  distribution  thereof,  and may be transferred  only in compliance with the
Act.  Unless,  prior  to the  conversion  of  this  Note,  the  issuance  of the
Conversion  Stock has been  registered  with the SEC pursuant to the  Securities
Act, the Note  Conversion Form shall be accompanied by a  representation  of the
Holder to the effect that such  securities are being acquired for investment and
not with a view to the distribution  thereof, and such other representations and
documentation  as may be required by the Company or the  Successor,  as the case
may be, unless in the opinion of counsel to the Company or the Successor, as the
case may be, such  representations  or other  documentation are not necessary to
comply with the Securities Act.

      5. Restrictions on Transfer.

            5.1 Transfer to Comply with the  Securities  Act.  This Note and any
Conversion Stock may not be sold or otherwise disposed of except as follows: (i)
to a person who, in the opinion of counsel to the Company or the  Successor,  as
the case may be,  is a person  to whom  this  Note or the  Conversion  Stock may
legally be  transferred  without  registration  and  without  the  delivery of a
current  prospectus  under the Securities Act with respect thereto and then only
against  receipt of an  agreement  of such person to comply with the  provisions
hereof with respect to any resale or other  disposition of such  securities;  or
(ii) to any person upon delivery of a prospectus  then meeting the  requirements
of the Securities Act relating to such  securities and the offering  thereof for
such sale or disposition, and thereafter to all successive assignees.

                                       4
<PAGE>

            5.2  Legend.  Upon  conversion  of this  Note  and the  issuance  of
Conversion  Stock, all certificates  representing  such securities shall bear on
the face thereof substantially the following legend:

            "The  securities  represented  by this  certificate  have  not  been
            registered under the Securities Act of 1933, as amended, and may not
            be sold,  offered  for  sale,  assigned,  transferred  or  otherwise
            disposed of unless registered pursuant to the provisions of that Act
            or an opinion of counsel  satisfactory  to the  Company is  obtained
            stating that such  disposition  is in  compliance  with an available
            exemption from such registration."

      6. Applicable Law. This Note is issued under and shall for all purposes be
governed  by  and  construed  in  accordance  with  the  laws  of the  State  of
California, excluding choice of law rules thereof.

      7.  Notices.  All  notices,  requests,  demands  and other  communications
(collectively,  "Notices") given pursuant to this Agreement shall be in writing,
and shall be delivered by personal service,  courier,  facsimile transmission or
by United States first class,  registered or certified  mail,  postage  prepaid,
addressed to the Company at its  principal  executive  offices and the Holder at
its  address as  appears on the  records  of the  Company.  Except as  expressly
provided  otherwise in this Note with respect to specific  Notices,  any Notice,
other than a Notice sent by  registered  or certified  mail,  shall be effective
when received;  a Notice sent by registered or certified  mail,  postage prepaid
return receipt requested,  shall be effective on the earlier of when received or
the third day following  deposit in the United States mails.  Any party may from
time to time change its address for further  Notices  hereunder by giving notice
to the other party in the manner prescribed in this Section.

      8. Miscellaneous.  This Note constitutes the rights and obligations of the
Holder and the Company.  No provision of this Note may be modified  except by an
instrument in writing  signed by the party against whom the  enforcement  of any
modification is sought. This Note shall be binding upon and inure to the benefit
of the parties and their respective successors and assigns.

      Payment of principal and interest due upon  maturity  shall be made to the
registered  Holder  of  this  Note  on or  after  the  Maturity  Date  following
presentation of this Note for payment. No interest shall be due on this Note for
such  period  of  time  that  may  elapse  between  the  Maturity  Date  and its
presentation for payment.

      No recourse  shall be had for the payment of the  principal of or interest
on this Note against any officer, director or agent of the Company or Successor,
past,  present or future,  all such  liability of the  officers,  directors  and
agents  being  waived,  released  and  surrendered  by the Holder  hereof by the
acceptance of this Note.

                                       5
<PAGE>

      IN WITNESS  WHEREOF,  the Company has caused this Note to be signed on its
behalf, in its corporate name, by its duly authorized officer, all as of the day
and year first above written.

                                      CENTERSTAGING MUSICAL
                                      PRODUCTIONS, INC.

                                      By:
                                         ----------------------------------

                                       6
<PAGE>

                     CENTERSTAGING MUSICAL PRODUCTIONS, INC.

                           CONVERTIBLE PROMISSORY NOTE

                              DUE DECEMBER 31, 2005

                              NOTE CONVERSION FORM

         The  undersigned  hereby  irrevocably  elects  to  convert  the  within
Convertible Promissory Note, together with accrued interest thereon.

If the Holder is an individual:      If the Holder is not an individual:
------------------------------       ----------------------------------

-----------------------------------  -------------------------------------------
Name(s) of the Holder                Name of Holder

                                     By:
-----------------------------------     ----------------------------------------
Signature of Holder                  Signature of Authorized Representative

-----------------------------------  -------------------------------------------
Signature, if jointly held           Name and Title of Authorized Representative

-----------------------------------  -------------------------------------------
Address(es) of Holder                Address of Holder

-----------------------------------  -------------------------------------------
Social Security Number(s) of Holder  Taxpayer Identification Number of Holder

-----------------------------------  -------------------------------------------
Date                                 Date

                                       7
<PAGE>

                     CENTERSTAGING MUSICAL PRODUCTIONS, INC.

                           CONVERTIBLE PROMISSORY NOTE

                              DUE DECEMBER 31, 2005

                              NOTE ASSIGNMENT FORM

                               FOR VALUE RECEIVED

      The undersigned  ______________________ (please print or typewrite name of
assignor)  hereby sells,  assigns and transfers  unto (please print or typewrite
name, address and social security or taxpayer  identification number, if any, of
assignee)  the  within  Convertible  Promissory  Note of  CenterStaging  Musical
Productions,     Inc.     in    the     original     principal     amount     of
$___________________________  and hereby authorizes the Company to transfer this
Note on its books.

If the Holder is an individual:      If the Holder is not an individual:
------------------------------       ----------------------------------

-----------------------------------  -------------------------------------------
Name(s) of Holder                    Name of Holder

                                     By:
-----------------------------------     ----------------------------------------
Signature of Holder                  Signature of Authorized Representative

-----------------------------------  -------------------------------------------
Signature, if jointly held           Name and Title of Authorized Representative

-----------------------------------  -------------------------------------------
Date                                 Date

                        ---------------------------------
                            (Signature(s) guaranteed)

                                       8

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