Document:

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                                                                   Exhibit 10.30
                                                                   -------------

                                PLEDGE AGREEMENT

     Pledge Agreement, made as of October 11, 2001, by and among J. Michael
Gearon, Jr., an individual residing at 2995 Paces Lake Court, Atlanta, Georgia
30339 (the "Pledgor"), and ATC Mexico Holding Corp., a Delaware corporation (the
"Pledgee").

                              W I T N E S S E T H :
                              - - - - - - - - - -

     WHEREAS, the Pledgee, American Tower Corporation, a Delaware corporation
and an Affiliate of the Pledgee ("ATC"), American Tower International, Inc., a
Delaware corporation ("ATC International"), the Pledgor are parties to a
Stockholder Agreement, dated as of the date hereof (the "Stockholder
Agreement"), pursuant to which the Pledgee will issue and sell to the Pledgor an
aggregate of eight hundred sixty (860) shares (the "Shares") of Common Stock,
par value $.01 per share, of the Pledgee (the "ATC Mexico Common Stock");

     WHEREAS, the Pledgor will make payment for the Shares in part by the
delivery of its promissory note (the "Pledgor Note") in the form attached to the
Stockholder Agreement; and

     WHEREAS, the Pledgee is unwilling to accept payment for the Shares to be
issued and sold by it in the form of the Pledgor Note without the assurances
herein provided;

     NOW, THEREFORE, in consideration of the premises, the mutual covenants and
agreements herein contained, of the Pledgee proceeding with the issue and sale
of the Shares, and for other good and valuable consideration, the receipt,
sufficiency and adequacy of which are hereby acknowledged, the parties hereto,
intending to be legally bound, covenant and agree as follows:

     Section 1. Certain Definitions. Terms defined in the singular shall have a
comparable meaning when used in the plural, and vice versa, and the reference to
any gender shall be deemed to include all genders. References to "hereof,"
"herein" or similar terms are intended to refer to the Agreement as a whole and
not a particular section, and references to "this Section" or "this Article" are
intended to refer to the entire section or article and not a particular
subsection thereof. As used herein, unless the context otherwise requires, the
terms defined in this Section shall have the respective meanings set forth
herein and terms used in this Agreement without definition which are defined in
the Stockholder Agreement or in any agreement referred to therein shall have the
respective meanings set forth for such terms in the Stockholder Agreement or in
any such agreement.

          (a) The term "Stock" as used herein means the following certificates
     representing issued and outstanding shares of ATC Mexico Common Stock and
     of ATC Common Stock:

  Certificate No.         Issuer                     Number of Shares
  ---------------         ------                     -----------------

         2               Pledgee                           860

                          ATC                            413,031

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          (b) The term "Obligations" as used herein means all indebtedness,
     obligations and liabilities of the Pledgor to the Pledgee, now existing or
     hereafter arising, direct or indirect, absolute or contingent, due or to
     become due, matured or unmatured, liquidated or unliquidated, arising under
     this Agreement, the Stockholder Agreement, the Pledgor Note and the other
     agreements, instruments or other documents executed or required to be
     executed pursuant hereto or thereto, each as from time to time amended or
     revised, or under any other agreement, instrument or other document, or by
     operation of law or otherwise.

          (c) The term "Collateral" as used herein means the Stock and any other
     property at any time, whether now or hereafter, pledged with the Pledgee
     hereunder (whether described herein or not) and all income therefrom,
     increases therein and proceeds thereof, except to the extent otherwise
     provided in Section 5.

          (d) The term "Event of Default" shall mean an event of default
     pursuant to the terms of any of the documents or instruments evidencing any
     of the Obligations. The term "Default" shall mean an Event which with
     notice, or passage of time, or both, would become an Event of Default.

     Section 2. Security for Obligations. The Pledgor hereby grants a security
interest in and pledges, assigns and delivers the Stock to the Pledgee, as
security for the Obligations, to be held by the Pledgee subject to the terms and
conditions hereinafter set forth. All of the Stock, accompanied by stock powers
duly executed in blank by the Pledgor, has been delivered to the Pledgee by the
Pledgor. The Pledgor hereby acknowledges and agrees that the Pledgee may deliver
(or cause one or more of its subsidiaries to deliver) such certificates as
security to one or more banks or other financial institutions extending credit,
from time to time, to the Pledgee or one or more of its subsidiaries.

     Section 3. Representations, Warranties and Covenants of the Pledgor. The
Pledgor represents and warrants (which representations and warranties shall
continue to be true and correct at all times during the term of this Agreement
with the same force and effect as though made on a continuing basis and not
merely as of the date hereof) that the representations and warranties made by it
in the Stockholder Agreement, all of which are incorporated herein by reference,
are true and correct and that (a) this Agreement constitutes, and each other
agreement, instrument or other document executed or required to be executed
pursuant hereto or thereto when executed and delivered by it will constitute,
valid and binding obligations of it, enforceable in accordance with their
respective terms, except as (i) the enforceability thereof may be limited by
bankruptcy, reorganization, insolvency, moratorium, fraudulent conveyance or
other laws of general applicability affecting the enforcement of creditors' or
secured parties' rights or debtors' obligations generally, and (ii) the
availability of specific performance or other equitable remedies may be limited
by equitable principles of general applicability (whether in a court of law or
in equity); provided, however, that such equitable principles will not prevent
the Pledgee from obtaining a practical realization of the economic benefits of
this Agreement; (b) it owns and has good, indefeasible and merchantable title to
the shares pledged by it hereunder, and will own any other Collateral pledged
from time to time hereunder, free and clear of all liens and encumbrances; and
(c) it is, and, after giving effect to the consummation of the transactions
contemplated by the Stockholder Agreement and this Agreement, will be, Solvent.

     Section 4. Liquidation, Recapitalization, Etc. In case any distribution of
capital or stock dividend shall be made on or in respect of any of the Stock, or
any money or property shall be distributed upon or with respect to any of the
Stock, pursuant to recapitalization or reclassification of the capital of the
Pledgee or ATC, or pursuant to the consummation of any merger, consolidation,
reorganization or liquidation or dissolution of Pledgee or ATC, the money or
property so distributed shall be delivered to

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the Pledgee to be held by it as part of the Collateral and as security for the
Obligations. All sums of money and property, if any, paid or distributed in
respect of the Stock, upon such other merger, consolidation, liquidation,
dissolution, reorganization, recapitalization or reclassification, which are
received by the Pledgor shall, until paid or delivered to the Pledgee, be held
in trust for the Pledgee as part of the Collateral and as security for the
Obligations.

     Section 5. Dividends, Voting, Etc., Prior to Maturity. Unless and until a
Default or an Event of Default shall have occurred, and until notice of such
Default or Event of Default has been given by the Pledgee, the Pledgor shall be
entitled to receive all regular cash dividends paid in respect of the Stock, to
vote the Stock and to give consents, waivers and ratifications in respect of the
Stock; provided, however, that no vote shall be cast, or consent, waiver or
ratification given or action taken which would be inconsistent with or violate
any provisions of any of this Agreement, the Stockholder Agreement, the Pledgor
Note or any agreement, instrument or other document executed or required to be
executed pursuant hereto or thereto. Until the occurrence of a Default or an
Event of Default, the Pledgee shall pay over to the Pledgor, forthwith upon
receipt, all regular cash dividends paid on the Stock, and shall execute and
deliver to the Pledgor such proxies or other documents in writing as may be
necessary to enable the Pledgor to exercise the foregoing rights. All such
rights of the Pledgor to receive regular cash dividends on the Stock, to vote
and give consents, waivers and ratifications shall cease forthwith in case a
Default or an Event of Default shall have occurred, without any notice (except
as provided in this Section) or demand by the Pledgee to the Pledgor.

     Section 6. Remedies. If a Default or an Event of Default shall have
occurred, the Pledgee shall thereafter have the following rights and remedies
(to the maximum extent permitted by applicable law) in addition to the rights
and remedies of a secured party under the Uniform Commercial Code of The
Commonwealth of Massachusetts all such rights and remedies being cumulative, not
exclusive, and enforceable alternatively, successively or concurrently, at such
time or times as the Pledgee, in its sole and absolute discretion, deems
expedient:

          (a) The Pledgee may vote any or all shares of the Stock (whether or
     not the same shall have been transferred into its name or the name of its
     nominee or nominees) and give all consents, waivers and ratifications in
     respect of the Stock and otherwise act with respect thereto as though it
     were the outright owner thereof (the Pledgor hereby irrevocably
     constituting and appointing the Pledgee the proxy and attorney-in-fact of
     the Pledgor, with full power of substitution, to do so);

          (b) The Pledgee may demand, sue for, collect or make any compromise or
     settlement the Pledgee deems suitable in respect of any Collateral held by
     it hereunder;

          (c) The Pledgee may sell, assign or otherwise Transfer any or all of
     the Collateral, for cash and upon such terms, at such place or places and
     at such time or times and to such Persons as the Pledgee, in its sole and
     absolute discretion, deems expedient, all without demand for performance by
     the Pledgor or any notice or advertisement whatsoever except such as may be
     required by applicable law; and

          (d) The Pledgee may cause all or any part of the Stock held by it to
     be transferred into its name or the name of its nominee or nominees.

     The Pledgee may buy any part or all of the Collateral at any public sale
and if any part or all of the Collateral is of a type customarily sold in a
recognized market or is of the type which is the subject of widely-distributed
standard price quotations, the Pledgee may, in its sole and absolute discretion,
buy at private sale and may make payments therefor by any means including,
without limitation, cancellation, in

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whole or in part, of any of the Obligations secured thereby. The Pledgee may, in
its sole and absolute discretion, apply the cash proceeds actually received from
any sale or other disposition to the reasonable expenses of retaking, holding,
preparing for sale, selling and the like, to reasonable attorneys fees, and all
legal expenses, travel and other expenses which may be incurred by the Pledgee
in attempting to collect the Obligations or to enforce this Agreement, the
Stockholder Agreement or any agreement, instrument or other document executed or
required to be executed pursuant hereto or thereto or any agreement, instrument
or other document evidencing the Obligations or in the prosecution or defense of
any legal action, litigation or other proceeding related to the subject matter
of this Agreement, the Stockholder Agreement or any agreement, instrument or
other document executed or required to be executed pursuant hereto or thereto or
any agreement, instrument or other document evidencing the Obligations, and then
to the Obligations with respect to principal or interest, or both, or other fees
and expenses, in such proportions as the Pledgee, in its sole and absolute
discretion, shall determine; and any surplus shall be paid to the Pledgor.

     The Pledgor recognizes that the Pledgee may be unable to effect a public
sale of the Stock by reason of certain prohibitions contained in federal or
state securities laws or other applicable laws, or agreement, instrument or
other documents to which such Stock may be subject, but may be compelled to
resort to one or more private sales thereof to a restricted group of purchasers.
The Pledgor agrees that any such private sales may be at prices and other terms
less favorable to the seller than if sold at public sales and that such private
sales shall be deemed to have been made in a commercially reasonable manner. The
Pledgee shall be under no obligation to delay a sale of any of the Stock for the
period of time necessary to permit the issuer of such securities to register
such securities for public sale under federal and state securities laws or other
applicable law, even if the issuer would agree to do so.

     Section 7. Marshalling. The Pledgee shall not be required to marshal any
present or future security for (including without limitation this Agreement and
the Collateral pledged hereunder), or guaranties of, the Obligations or any of
them, or to resort to such security or guaranties in any particular order; and
all of the rights hereunder and in respect of such security and guaranties shall
be cumulative and in addition to all other rights, however existing or arising.
To the maximum extent permitted by applicable law, the Pledgor hereby agrees
that it will not invoke any law relating to the marshalling of collateral which
might cause delay in or impede the enforcement of the Pledgee's rights under
this Agreement, the Stockholder Agreement or any agreement, instrument or other
document executed or required to be executed pursuant hereto or thereto or under
any other agreement, instrument or other document evidencing any of the
Obligations or under which any of the Obligations is outstanding or by which any
of the Obligations is secured or guaranteed, and, to the maximum extent
permitted by applicable law, the Pledgor hereby irrevocably waives the benefits
of all such laws.

     Section 8. Pledgor's Obligations Not Affected. The obligations of the
Pledgor hereunder shall remain in full force and effect without regard to, and
shall not be impaired by (a) any bankruptcy, insolvency, reorganization,
arrangement, readjustment, composition, dissolution, liquidation or other Act of
Bankruptcy (or legal action, litigation or other proceeding with respect to any
of the foregoing) of the Pledgor; (b) any exercise or non-exercise, or any
waiver, by the Pledgee of any right, remedy, power or privilege under or in
respect of any of the Obligations or any security therefor (including this
Agreement); or (c) the taking of additional security for, or any guaranty of,
any of the Obligations or the release or discharge or termination of any other
security or guaranty for any of the Obligations; whether or not the Pledgor
shall have notice or knowledge of any of the foregoing.

     Section 9. Pledgee's Exoneration. Under no circumstances shall the Pledgee
be deemed to assume any responsibility for or obligation or duty with respect to
any part or all of the Collateral of any nature or kind, or any matter or legal
action, litigation or other proceeding arising out, of or relating thereto, but
the same shall be at the Pledgor's sole and exclusive risk at all times. The
Pledgee shall not

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be required to take or refrain from taking any action of any kind to collect,
preserve or protect its or the Pledgor's rights in the Collateral or against
other parties thereto. The Pledgee's prior recourse to any part or all of the
Collateral shall not constitute a condition of any demand or legal action,
litigation or other proceeding for payment or collection of the Obligations.

     Section 10. Termination. Upon payment and performance in full of the
Obligations in accordance with their terms and the performance by the Pledgor of
all of its covenants and agreements hereunder, this Agreement shall terminate,
and the Pledgor shall be entitled to the return, at the Pledgor's expense, of
such of the Collateral in the possession or control of the Pledgee as has not
theretofore been disposed of pursuant to the provisions hereof, together with
any monies and other property at the time held by the Pledgee hereunder. If at
any time any payment made in respect of the Obligations shall be recovered or
rescinded by or on behalf of Pledgor or must be otherwise restored or returned,
whether upon the insolvency, bankruptcy, dissolution, liquidation or
reorganization of Pledgor, or as a result of the appointment of a receiver,
conservator of or trustee or similar officer for Pledgor or any substantial part
of it property, any other Act of Bankruptcy, or otherwise, Pledgor's obligations
under this Agreement shall be reinstated and continue as though such payment had
not been made.

     Section 11. Further Assurances. The Pledgor will do all such acts, and will
furnish to the Pledgee all such financing documents, financing statements,
certificates, legal opinions and other agreement, instrument or other documents
and will obtain all such governmental authorizations and other consents and
approvals and will do or cause to be done all such other things, including
without limitation the execution and delivery of further agreement, instrument
or other documents, as Pledgee may reasonably request from time to time in order
to give full force and effect to this Agreement and to secure Pledgee's rights
hereunder. Without limiting the generality of the foregoing, Pledgor agrees to
deliver to Pledgee, from time to time at the request of Pledgee, such financial
information relating to Pledgor as Pledgee may from time to time reasonably
request, including, without limitation, personal balance sheets of Pledgor,
certified by Pledgor to be true, correct and complete. Pledgor authorizes
Pledgee to file any financing statement deemed by Pledgee, in its sole and
absolute discretion, to be necessary or desirable to perfect the security
interest granted by Pledgor to Pledgee, and, as agent for Pledgor, to sign the
name of Pledgor thereto.

     Section 12. Miscellaneous.
                 -------------

     (a) Termination. This Agreement may be terminated with the mutual consent
of the Pledgor and the Pledgee.

     (b) Expenses. Whether or not the transactions contemplated hereby shall be
consummated, each party will pay all of its respective expenses in connection
with such transactions and in connection with any amendments or waivers (whether
or not the same become effective) under or in respect of this Agreement.

     (c) Assignment; Successors and Assigns. This Agreement shall not be
assignable by any party and any such assignment shall be null and void, except
that it shall inure to the benefit of and be binding upon any successor to any
party by operation of Law, including by way of merger, consolidation or sale of
all or substantially all of its assets, and any of the parties may assign its
rights and remedies hereunder to any bank or other financial institution that
has loaned funds or otherwise extended credit to it or any of its Affiliates.
This Agreement shall be binding upon and inure solely to the benefit of the
parties and their permitted successors and assigns, and nothing in this
Agreement, express or implied, is intended to or shall confer upon any person
any right, benefit or remedy of any nature whatsoever under or by reason of this
Agreement, except as otherwise provided in this Section.

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     (d) Notices and Communications. All notices and other communications which
by any provision of this Agreement are required or permitted to be given shall
be given in writing and shall be effective (i) five (5) days after being mailed
by first-class, express mail, postage prepaid, (ii) the next day when sent by
overnight by a nationally recognized overnight mail courier service, (iii) upon
confirmation when sent by telex, telegram, telecopy or other similar form of
rapid transmission, confirmed by mailing (by first class or express mail,
postage prepaid, or nationally recognized overnight mail courier service)
written confirmation at substantially the same time as such rapid transmission,
or (iv) upon delivery personally delivered to an officer of the receiving party.
All such communications shall be mailed, set or delivered as set forth below or
at such other addresses as the party entitled thereto shall have designated by
notice as herein provided.

          (i) if to the Pledgee, at 116 Huntington Avenue, Boston, Massachusetts
     02116 Attention: Chief Executive Officer and Chief Financial Officer,
     Telecopier No.: (617) 375-7575 with a copy (which shall not constitute
     notice to the Pledgee) to Sullivan & Worcester LLP, One Post Office Square,
     Boston, Massachusetts 02109, Attention: William J. Curry, Esq., Telecopier
     No.: (617) 338-2880); and

          (ii) if to the Pledgor, at 3200 Cobb Galleria Parkway, Suite 205,
     Atlanta, Georgia 30339 with a copy (which shall not constitute notice to
     the Pledgor) to King & Spalding, 1185 Avenue of the Americas, New York, New
     York 10036, Attention: John L. Graham, Esq., Telecopier No.: (212)
     556-2222).

     (e) Amendments and Waivers. Changes in or additions to this Agreement may
be made, or compliance with any term, covenant, agreement, condition or
provision set forth herein may be omitted or waived (either generally or in a
particular instance and either retroactively or prospectively) with, but only
with, the consent in writing of the parties hereto. No delay on the part of
either party at any time or times in the exercise of any right or remedy shall
operate as a waiver thereof. Any consent may be given subject to satisfaction of
conditions stated therein. The failure to insist upon the strict provisions of
any covenant, term, condition or other provision of this Agreement or to
exercise any right or remedy thereunder shall not constitute a waiver of any
such covenant, term, condition or other provision thereof or default in
connection therewith. The waiver of any covenant, term, condition or other
provision thereof or default thereunder shall not affect or alter this Agreement
in any other respect, and each and every covenant, term, condition or other
provision of this Agreement shall, in such event, continue in full force and
effect, except as so waived, and shall be operative with respect to any other
then existing or subsequent default in connection therewith.

     (f) Governing Law. The validity, interpretation, construction and
performance of this Agreement shall be governed by, and construed in accordance
with, the applicable laws of the United States of America and the laws of the
State of Delaware applicable to contracts made and performed in such State and,
in any event, without giving effect to any choice or conflict of laws provision
or rule that would cause the application of domestic substantive laws of any
other jurisdiction.

     (g) Entire Agreement. This Agreement constitutes the entire agreement among
the parties hereto with respect to the subject matter hereof and supersedes all
prior agreements, arrangements, covenants, promises, conditions, understandings,
inducements, representations and negotiations, expressed or implied, oral or
written, between them as to such subject matter.

     (h) Specific Performance; Other Rights and Remedies. Each party recognizes
and agrees that in the event the other party should refuse to perform any of its
obligations under this Agreement , the remedy at law would be inadequate and
agrees that for breach of such provisions, each party shall be entitled to
injunctive relief and to enforce its rights by an action for specific
performance to the extent

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permitted by Applicable Law. Each party hereby waives any requirement for
security or the posting of any bond or other surety in connection with any
temporary or permanent award of injunctive, mandatory or other equitable relief.
Nothing herein contained shall be construed as prohibiting each party from
pursuing any other remedies available to it pursuant to the provisions of, and
subject to the limitations contained in, this Agreement for such breach or
threatened breach; provided, however, that none of the parties shall pursue, and
each party hereby waives, any punitive, indirect, special, incidental,
exemplary, consequential or similar damages arising out of this Agreement
(including without limitation damages for diminution in value and loss of
anticipated profits other than those, if any, resulting from a delay in the
Pledgor's ability to sell the ATC Common Stock because of a breach by the
Pledgee) and the multiplied portion of damages.

     (i) Saturdays, Sundays, Holidays, etc. If the last or appointed day for
taking of any action required or permitted hereby shall be day other than a
Business Day, then such action may be taken on the next succeeding Business Day.

     (j) Headings; Counterparts. The headings contained in this Agreement are
for reference purposes only and shall not limit or otherwise affect the meaning
of any provision of this Agreement. This Agreement may be executed in any number
of counterparts, each of which shall be an original, but all of which together
shall constitute one instrument, binding upon all of the parties hereto. In
pleading or proving any provision of this Agreement, it shall not be necessary
to produce more than one of such counterparts.

     (k) Severability. If any provision of this Agreement shall be held or
deemed to be, or shall in fact be, invalid, inoperative, illegal or
unenforceable as applied to any particular case in any jurisdiction or
jurisdictions, or in all jurisdictions or in all cases, because of the conflict
of any provision with any constitution or statute or rule of public policy or
for any other reason, such circumstance shall not have the effect of rendering
the provision or provisions in question invalid, inoperative, illegal or
unenforceable in any other jurisdiction or in any other case or circumstance or
of rendering any other provision or provisions herein contained invalid,
inoperative, illegal or unenforceable to the extent that such other provisions
are not themselves actually in conflict with such constitution, statute or rule
of public policy, but this Agreement shall be reformed and construed in any such
jurisdiction or case as if such invalid, inoperative, illegal or unenforceable
provision had never been contained herein and such provision reformed so that it
would be valid, operative and enforceable to the maximum extent permitted in
such jurisdiction or in such case. Notwithstanding the foregoing, in the event
of any such determination the effect of which is to affect materially and
adversely any party, the parties shall negotiate in good faith to modify this
Agreement so as to effect the original intent of the parties as closely as
possible to the fullest extent permitted by Applicable Law in an acceptable
manner to the end that the transactions contemplated by this Agreement are
fulfilled and consummated to the maximum extent possible.

     (l) Further Acts. Each party agrees that at any time, and from time to
time, before and after the consummation of the transactions contemplated by this
Agreement, it will do all such things and execute and deliver all such other
agreements, instruments and documents and other assurances, as any other party
or its counsel reasonably deems necessary or desirable in order to carry out the
terms and conditions of this Agreement and the transactions contemplated hereby
or to facilitate the enjoyment of any of the rights created hereby or to be
created hereunder.

     (m) Mutual Drafting. This Agreement is the result of the joint efforts of
the parties, and each provision hereof has been subject to the mutual
consultation, negotiation and agreement of the parties and there shall be no
construction against either party based on any presumption of that party's
involvement in the drafting thereof. Each of the parties is a sophisticated
legal entity or individual that was advised by

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experienced counsel and, to the extent it deemed necessary, other advisors in
connection with this Agreement.

     IN WITNESS WHEREOF, each of the parties hereto had caused this Agreement to
be duly executed and delivered as of the day and year first above written.

                                            ATC Mexico Holding Corp.

                                            By: /s/ Joseph L. Winn
                                               ---------------------------------
                                               Name:
                                               Title: Chief Financial Officer

                                                /s/ J. Michael Gearon, Jr.
                                               ---------------------------------
                                                    J. Michael Gearon, Jr.

                                       8<PAGE>

                                                                   Exhibit 10.31
                                                                   -------------

THIS NOTE HAS NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED,
OR UNDER THE SECURITIES LAWS OF ANY STATE, AND MAY NOT BE SOLD OR OTHERWISE
TRANSFERRED IN THE ABSENCE OF SUCH REGISTRATION OR AN EXEMPTION THEREFROM UNDER
SUCH ACT AND UNDER ANY SUCH APPLICABLE STATE LAW.

                             J. MICHAEL GEARON, JR.

                            7% SECURED NOTE DUE 2010

U.S. $6,720,000
                                                                October 11, 2001

     FOR VALUE RECEIVED, the undersigned, J. Michael Gearon, Jr., an individual
residing in Atlanta, Georgia ("Gearon"), hereby promises to pay to the order of
ATC Mexico Holding Corp., a Delaware corporation ("ATI"), or registered assigns,
on December 31, 2010 (the "Maturity Date"), the principal amount of Six Million
Seven Hundred Twenty Thousand United States Dollars (U.S. $6,720,000) or such
lesser amount as has been advanced, from time to time, pursuant hereto and then
remains unpaid, with interest (computed on the basis of a 365-6 day year, in
each case for the actual number of days (including the first day but excluding
the last day) occurring in the period for which such interest is payable) on the
unpaid principal hereof outstanding from time to time at an annual rate equal to
seven percent (7%), compounded and payable on the last day of each calendar
quarter, commencing December 31, 2001, and at the Maturity Date.

     Payments of principal of and interest on this Note shall be made at the
address of the holder set forth in or specified pursuant to the provisions of
Section 5.3. Payments of principal of and interest on this Note shall be made in
lawful money of the United States of America. Gearon and all other Persons may
treat the person in whose name this Note is registered as the owner hereof for
the purpose of receiving payment and for all other purposes, and Gearon's
obligation to make payment to the registered owner shall not be affected by any
notice to the contrary. All payments received in respect of the indebtedness
evidenced by this Note shall be applied first to interest hereon accrued to the
date of payment, then to the payment of other amounts (except principal) at the
time due and unpaid hereunder, then to the payment of the unpaid principal
hereof.

     Gearon hereby irrevocably authorizes the holder to make an appropriate
notation on Schedule I annexed hereto reflecting all payments of principal and
interest hereunder. Failure of the holder to make any such notation shall not,
however, affect any obligation of Gearon hereunder. The aggregate unpaid
principal amount as recorded by the holder from time to time on Schedule I
annexed hereto and made a part hereof shall constitute presumptive evidence of
such amount, but subject in all events to evidence of Gearon to the contrary.

     Gearon shall pay principal, interest and other amounts under, all on the
terms and subject to the conditions set forth in the Agreement, and in
accordance with the terms of, this Note, free and clear of and without deduction
for any and all present and future taxes, levies, imposts, deductions, charges,
withholdings, and all liabilities with respect thereto.

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     This Note is being issued in connection with the execution and delivery of
the Stockholder Agreement, by and among American Tower Corporation, American
Tower International, Inc., Gearon, and the other stockholders of ATI from time
to time parties thereto dated as of October 11, 2001 (the "Stockholder
Agreement"), and the holder hereof is entitled to the benefits of the
Stockholder Agreement, and the Pledge Agreement, by and between Gearon and ATI,
dated as of October 11, 2001 (the "Pledge Agreement"), and may enforce the
agreements of Gearon contained in the Stockholder Agreement and the Pledge
Agreement and exercise the remedies provided for thereby or otherwise in respect
thereof all in accordance with and subject to the terms thereof.

     The obligation of Gearon with respect to this Note or any other obligations
arising hereunder is a nonrecourse obligation and, notwithstanding any provision
to the contrary in this Note, each holder from time to time of this Note, by its
acceptance hereof, agrees for itself, and its successors and assigns, that (a)
neither Gearon nor his successors and assigns shall be personally liable on the
payment of interest on and the principal of this Note or any other obligations
arising hereunder, and (b) in the event that one or more Events of Defaults has
occurred or any other default whatsoever has occurred under this Note, the
holder, or any of its successors and assigns, shall look solely to the
Collateral (as defined in the Pledge Agreement) for the payment of interest on
and the principal of this Note or any other obligations arising hereunder and
will not make any claim or institute any action or proceeding against Gearon,
any of his successors and assigns, or any of his or any of their assets or
property (other than the Collateral (as defined in the Pledge Agreement)) for
the payment of interest on or the principal of this Note or any other
obligations arising hereunder (or for any deficiency remaining after the
application of the Collateral (as defined in the Pledge Agreement)) than out of
the Collateral (as defined in the Pledge Agreement).

     Gearon represents and warrants that the representations and warranties made
by him in Section 2 of the Stockholder Agreement are true and correct with the
same force and effect as though set forth hereat in their entirety and are true
and correct with respect to this Note with the same force and effect as though a
reference to this Note were included in such section immediately following each
reference therein to the term "this Agreement".

     The holder of this Note is entitled to exchange this Note for one or more
Notes of like tenor in an aggregate principal amount equal to that of this Note.

     All agreements between the holder hereof and Gearon contained herein are
hereby expressly limited so that in no contingency or event whatsoever whether
by reason of acceleration of maturity of this Note, or otherwise, shall the
amount paid or agreed to be paid to the holder for the use, forbearance or
detention of the principal amount evidenced by this Note exceed the maximum
permissible under applicable Law (as defined in the Stockholder Agreement), the
benefit of which may be asserted by Gearon as a defense, and if, from any
circumstances whatsoever, fulfillment of any provision of this Note at the time
performance of such provision shall be due, shall involve transcending the limit
of validity prescribed by law, or if from any circumstances the holder hereof
should ever receive as interest under this Note such an excessive amount, then,
ipso facto, the amount which would be excessive interest shall be applied to the
reduction of the principal balance as evidenced by this Note and not to the
payment of interest. This provision shall control every other provision of all
agreements between the holder hereof and Gearon.

     1.   Payment Provisions.
          ------------------

     1.1  Required  Payments.  This Note shall be paid in its entirety,  without
          ------------------
premium but with interest  accrued and unpaid thereon to the date of payment,
upon the earliest to occur of (a) the termination of the Stockholder  Agreement,
(b) the consummation of the purchase by ATI (or any of its

                                        2

<PAGE>

affiliates) of the Holding Securities owned by Gearon pursuant to the provisions
of the Stockholder Agreement, and (c) December 31, 2010; provided, however, that
notwithstanding the foregoing, in the event ATI (and its affiliates) purchase
less than all of the Holding Securities owned by Gearon pursuant to the
provisions of the Stockholder Agreement the principal amount of this Note that
shall be due and payable shall be equal to an amount determined by multiplying
the principal amount of this Note then outstanding by a fraction, (i) the
numerator of which is the number of Holding Securities so purchased and (ii) the
denominator of which is the difference between (x) the number of Holding
Securities originally acquired by Gearon and (y) the number of Holding
Securities for which Gearon has paid cash, either at the time of the execution
of this Note or thereafter.

     1.2  Optional  Payments.  Gearon may prepay this Note,  in whole or from
          -------------------
time to time in part,  at its  principal  amount, without premium but with
interest accrued and unpaid thereon to the date of payment.

     2.   Defaults.
          --------

     2.1  Events of Default.  If one or more of the following  events (herein
          -----------------
termed "Events of Default")  shall have occurred, that is to say:

          (a) if Gearon shall fail to make payment of the principal of or
     interest on this Note within five (5) business days after ATI provides
     notice that the same is due and payable, whether at their stated maturity,
     on a date fixed for payment, by a notice of payment or offer to pay, by
     declaration or otherwise; or

          (b) if any material representation or warranty of Gearon contained in
     the Stockholder Agreement, the Pledge Agreement or any statement or
     certificate furnished by Gearon in connection with the issue or sale of
     this Note or pursuant to any provision of the Stockholder Agreement or the
     Pledge Agreement, shall have been false, incorrect or misleading in any
     material respect when made or so certified to, and such representation and
     warranty was either (i) willfully and intentionally made as such or
     (ii) not so willfully and intentionally made, but the defect giving rise to
     such false, incorrect or misleading representation and warranty, to the
     extent curable, has not been cured within thirty (30) days after written
     notice to Gearon from the holder of this Note of the defect and, whether
     or not curable, has, together with any other such false, incorrect or
     misleading representations and warranties, resulted in a material adverse
     change in Gearon; or

          (c) if Gearon shall fail duly to observe or perform any other
     covenant, agreement or provision contained in the Stockholder Agreement,
     this Note or the Pledge Agreement, other than those referred to in
     subdivisions (a) or (b) above, and such failure shall have continued for a
     period of thirty (30) days after written notice to Gearon from the holder
     of this Note; or

          (e) if Gearon shall, as a debtor, be involved in or commit an Act of
     Bankruptcy;

     then, except as set forth below in this Section, (I) in the case of any
     event specified in subdivision (e) of this Section, there shall
     automatically become forthwith due and payable the unpaid balance of this
     Note, and (II) in each and every other case specified in this Section, the
     holder of this Note may by notice in writing to Gearon declare to be
     forthwith due and payable the unpaid balance of this Note, together in any
     such case with interest accrued thereon, and thereupon such balance shall
     become so due and payable without presentation, protest or further demand
     or notice of any kind, all of which are hereby expressly waived by Gearon;
     the holder of this Note may proceed to protect and enforce its rights by
     suit in equity, action at law and/or other

                                        3

<PAGE>

     appropriate proceeding, either for specific performance of any covenant or
     provision contained in this Note or in aid of the exercise of any power
     granted in this Note or in lieu thereof.

     2.2 Annulment of Defaults. This Section is subject to the condition that,
         ---------------------
if at any time after the principal of this Note shall have been declared and
become due and payable, and before any judgment or decree for the payment of the
moneys so due, or any part thereof, shall be entered, all arrears of interest
upon this Note and all other sums payable upon this Note (except the principal
of and interest on this Note which by such declaration shall have become
payable) shall have been duly paid, and every other Potential Default and Event
of Default shall have been made good or cured, then and in every such case the
holder of this Note may, by written instrument or instruments filed with Gearon,
rescind and annul such declaration and its consequences. No rescission or
annulment under this Section shall extend to or affect any subsequent Potential
Default or Event of Default or impair any right consequent thereon.

     2.3 Waiver by Company; Severability of Remedies. To the fullest extent
         -------------------------------------------
permitted by applicable law, Gearon hereby agrees to waive, and does hereby
absolutely and irrevocably waive and relinquish, (a) the benefit and advantage
of any valuation, stay, appraisal, extension or redemption laws now existing or
which may hereafter exist, which, but for this provision, might be applicable to
any sale made under the judgment, order or decree of any court, or otherwise,
based on this Note or any claim for interest on this Note; (b) all presentments,
demands for performance and notices of nonperformance (except to the extent
required by the provisions hereof); (c) any requirements of diligence or
promptness on the part of the holder, as a holder of this Note, in the
enforcement of its rights under the provisions of this Note; and (d) any and all
notices of every kind and description which may be required to be given by any
statute or rule of law and any defense of any kind relating thereto which it may
now or hereafter have. In the event any remedy or other provision of this
Section is not enforceable for any reason, no other remedy or provision shall be
affected thereby, and all such other remedies and provisions shall be given full
force and effect in accordance with their terms.

     2.4 No Waiver of Rights. No course of dealing between Gearon or any
         -------------------
subsidiary and the holder, as a holder of this Note, and no delay or omission on
the part of the holder in exercising any rights under this Note, shall operate
as a waiver of the rights of the holder, as a holder of this Note. No failure to
insist upon the strict provisions of any covenant, term, condition or other
provision of this Note or to exercise any right or remedy thereunder shall
constitute a waiver by the holder, as a holder of this Note, of any such
covenant, term, condition or other provision or of any Potential Default or
Event of Default in connection therewith. The waiver of any covenant, term,
condition or other provision hereof or of this Note or Potential Default or
Event of Default hereunder on one occasion shall not be construed as a bar to or
a waiver of any right or remedy on any future occasion and shall not affect or
alter this Note except to the extent specifically provided in the instruments
setting forth such waiver delivered under Section 4.4, and every covenant, term,
condition and other provision of this Note shall, in such event, continue in
full force and effect.

     2.5 Costs and Expenses of Collection. Gearon covenants and agrees that if
         --------------------------------
default be made in any payment of principal of or interest on this Note, it
will, to the extent permitted under Applicable Law, pay to the holder, as a
holder of this Note, such further amount as shall be sufficient to cover the
costs and expenses of collection, including reasonable compensation to the
attorneys of the holder for all services rendered in that connection.

     2.6 Default Rate. If an Event of Default described in paragraph (a) of
         ------------
Section 2.1 occurs and is continuing, this Note shall bear interest at the
Default Rate, until the earlier to occur of (a) such time as all amounts due
hereunder are paid in full or (b) no such Event of Default exists.

                                        4

<PAGE>

     2.7 Remedies Cumulative. No remedy herein conferred upon the holder, as a
         -------------------
holder of this Note or otherwise, is intended to be exclusive of any other
remedy, and each and every remedy shall be cumulative and shall be in addition
to every other remedy given hereunder or now or hereafter existing at law or in
equity or by statute or otherwise.

     3. Definitions. As used herein, unless the context otherwise requires, the
        -----------
following terms have the following respective meanings. Terms defined in the
singular shall have a comparable meaning when used in the plural, and vice
versa, and the reference to any gender shall be deemed to include all genders.
Unless otherwise defined or the context otherwise clearly requires, terms for
which meanings are provided in this Agreement shall have such meanings when used
in each instrument, notice, certificate, communication, opinion or other
document executed or required to be executed pursuant hereto or thereto or
otherwise delivered, from time to time, pursuant hereto or thereto. Capitalized
terms used in this Agreement without definition which are defined in the
Stockholder Agreement shall have the meaning prescribed therefor in the
Stockholder Agreement.

     The term "Act of Bankruptcy" shall mean, when used with reference to any
Person, any of the following events or occurrences:

          (a) its admitting in writing its inability, or being unable under
     Applicable Law, or its failing generally, to pay its debts generally as
     they become due, or

          (b) its filing a petition, answer or consent seeking relief as a
     debtor or otherwise commencing a voluntary case under the Bankruptcy Code
     as from time to time in effect, or its authorizing, by appropriate
     proceedings of its board of directors or other governing body, any such
     petition, answer, consent or commencement of such a voluntary case; or

          (c) the filing against it or all or any substantial part of its
     property of a petition commencing an involuntary case under the Bankruptcy
     Code which shall remain undismissed for a period of more than forty five
     (45) days or which is consented to by such Person or any order or decree
     approving relief adverse to such Person thereunder shall remain unstayed
     and in effect for more than forty five (45) days; or

          (d) its commencement of proceedings or filing a petition, answer or
     consent seeking relief as a debtor under any Applicable Law, other than the
     Bankruptcy Code, of any jurisdiction relating to the liquidation or
     reorganization of debtors or to the modification or alteration of the
     rights of creditors, or its consenting to or acquiescing in such relief or
     its admitting or acquiescing in or failing promptly and in any event within
     forty five (45) days of the filing thereof, in an appropriate manner, to
     deny the material allegations of any petition seeking such relief, any such
     involuntary petition remaining undismissed for more than forty five (45)
     days or an order in any involuntary proceeding adverse to such Person
     remaining unstayed and in effect for more than forty-five (45) days; or

          (e) the entry of an order or decree (whether or not final) by a court
     of competent jurisdiction (i) finding it to be bankrupt or insolvent, (ii)
     ordering or approving its liquidation, dissolution or winding up, or
     reorganization or any modification or alteration of the rights of its
     creditors, or any composition or readjustment of debts, (iii) assuming
     custody of, or appointing a receiver, trustee, sequestrator, conservator,
     assignee, custodian, liquidator, fiscal agent or similar official for, such
     Person or all or a substantial part of its property and any such order or
     decree shall continue unstayed and in effect for a period of forty-five
     (45) days; or

                                        5

<PAGE>

          (f) its convening a meeting of creditors for the purpose of
     consummating an out-of-court arrangement, or making an assignment for the
     benefit of, or entering into a composition, extension or similar
     arrangement with, its creditors in respect of all or a substantial portion
     of its debt; or

          (g) its seeking or consenting to or acquiescing in the appointment of
     a receiver, trustee, sequestrator, conservator, liquidator, fiscal agent or
     other custodian of itself or of all or any substantial part of its
     property; or

          (h) its winding-up, liquidation or dissolution; or

          (i) its authorization, by appropriate action of its board of directors
     or other governing body, of any of the foregoing.

     The term "ATI" is defined in the first paragraph hereof.

     The term "Bankruptcy Code" shall mean 11 U.S.C. ss. 101 et seq., as from
time to time in effect, and any successor law, and any reference to any
statutory provision shall be deemed to be a reference to any successor statutory
provision.

     The term "Default Rate" shall mean ten percent (10%) per annum.

     The term "Event of Default" is defined in Section 3.1.

     The term "Gearon" is defined in the first paragraph hereof.

     The term "Holder" shall mean the holder, from time to time, of this Note.

     The term "this Note" means this instrument and shall include all
amendments, modifications and supplements hereto.

     The term "Pledge Agreement" is defined in Section 1.1, and shall include
all amendments, modifications and supplements thereto.

     The term "Potential Default" shall mean any event or circumstance which
after notice, passage of time, or both, would become an Event of Default.

     The term "Related Agreement" shall mean this Note, the Pledge Agreement,
the Stockholder Agreement and each other agreement, instrument and other
document executed or required to be executed by Gearon on the date hereof or at
any time thereafter, in connection with the transactions contemplated by this
Note or any of the other Related Agreements, in each case, as amended, modified
or supplemented from time to time.

     The term "Stockholder Agreement" is defined in the fifth paragraph of this
Note, and shall include all amendments, modifications and supplements thereto.

     4.  Miscellaneous Provisions.
         ------------------------

     4.1 Stamp and Other Taxes. Gearon covenants and agrees that it will pay all
         ---------------------
United States and state documentary stamp or similar excise taxes, including any
interest or penalties thereon, which may be legally payable in connection with
or arising out of the issue of this Note and will indemnify each holder of any
thereof against, and save it harmless from, any liability, cost or expense in
respect of any

                                        6

<PAGE>

such stamp taxes or other taxes and any interest or penalties thereon. Gearon's
agreement in this connection shall survive the payment of this Note.

     4.2 Survival of Covenants; Assignment; Successors and Assigns. All
         ---------------------------------------------------------
covenants, agreements and representations made or deemed incorporated herein and
in certificates delivered in connection herewith shall be deemed material and
relied on by ATI notwithstanding any investigation made by it or in its behalf,
and shall survive the execution and delivery of this Note, to it and its payment
therefor. This Note shall not be assignable by any holder and any such
assignment shall be null and void, except that it shall inure to the benefit of
and by binding upon any successor to any party by operation of law, including by
way of merger, consolidation or sale of all or substantially all of its assets,
and ATI may assign its rights and remedies hereunder to any bank or other
financial institution which has loaned funds or otherwise extended credit to it
or one or more of its Affiliates.

     4.3 Notices and Communications. All notices and other communications which
         --------------------------
by any provision of this Agreement are required or permitted to be given shall
be given in writing and shall be effective (i) five (5) days after being mailed
by first-class, express mail, postage prepaid, (ii) the next day when sent by
overnight by recognized mail courier service, (iii) upon confirmation when sent
by telex, telegram, telecopy or other similar form of rapid transmission,
confirmed by mailing (by first class or express mail, postage prepaid, or
recognized overnight mail courier service) written confirmation at substantially
the same time as such rapid transmission, or (iv) upon delivery personally
delivered to an officer of the receiving party. All such communications shall be
mailed, set or delivered as set forth below or at such other addresses as the
party entitled thereto shall have designated by notice as herein provided.

          (a) If to Gearon, c/o American Tower Corporation, 3200 Cobb Galleria
     Parkway , Suite 205, Atlanta, Georgia 30339 with a copy (which shall not
     constitute notice to Gearon or Gearon Entity) to King & Spalding, 1185
     Avenue of the Americas, New York, New York 10036, Attention: John L.
     Graham, Esq., Telecopier No.: (212) 556-2222).

          (b) If to ATI, at 116 Huntington Avenue, Boston, Massachusetts 02116
     Attention: Chief Executive Officer and Chief Financial Officer, Telecopier
     No.: (617) 375-7575 with a copy (which shall not constitute notice to ATC
     or Holding) to Sullivan & Worcester LLP, One Post Office Square, Boston,
     Massachusetts 02109, Attention: William J. Curry, Esq., Telecopier No.:
     (617) 338-2880).

          (c) If to any holder of this Note other than ATI, to the address set
     forth in Gearon's records.

     4.4 Amendments and Waivers. Any provision of this Note to the contrary
         ----------------------
notwithstanding, changes in or additions to this Note and any other Related
Document may be made, or compliance with any term, covenant, agreement,
condition or provision set forth herein, may be omitted or waived (either
generally or in a particular instance and either retroactively or prospectively)
with, but only with, the consent in writing of the holder of this Note and
Gearon; and each such change, addition or waiver shall be binding upon each
future holder of this Note and, in the case of Gearon, his successors and
permitted assigns. Any consent may be given subject to satisfaction of
conditions stated therein. The failure to insist upon the strict provisions of
any covenant, term, condition or other provision of this Note or to exercise any
right or remedy hereunder or thereunder shall not constitute a waiver of any
such covenant, term, condition or other provision thereof or Potential Default
or Event of Default in connection therewith. The waiver of any covenant, term,
condition or other provision hereof or thereof or Potential Default or Event of
Default hereunder shall not affect or alter this Note in any other respect, and
each and

                                        7

<PAGE>

every covenant, term, condition or other provision of this Note shall, in such
event, continue in full force and effect, except as so waived, and shall be
operative with respect to any other then existing or subsequent Potential
Default or Event of Default in connection therewith.

     4.5 Governing Law. The validity, interpretation, construction and
         -------------
performance of this Note shall be governed by, and construed in accordance with,
the applicable laws of the United States of America and the laws of The
Commonwealth of Massachusetts applicable to contracts made and performed in such
Commonwealth and, in any event, without giving effect to any choice or conflict
of laws provision or rule that would cause the application of domestic
substantive laws of any other jurisdiction.

     4.6 Entire Agreement. This Note (together with the Related Documents
         ----------------
delivered or to be delivered in connection herewith) constitutes the entire
agreement of the parties with respect to the subject matter hereof and
supersedes all prior agreements, arrangements, covenants, promises, conditions,
undertakings, inducements, representations, warranties and negotiations,
expressed or implied, oral or written, between the parties, with respect to the
subject matter hereof. Each of Gearon and ATI is a sophisticated legal Person
that was advised by experienced counsel and, to the extent it deemed necessary,
other advisors in connection with this Note. Each of Gearon and ATI (by its
acceptance of this Note) hereby acknowledges that (a) neither of them has relied
or will rely in respect of this Note or the transactions contemplated hereby
upon any document or written or oral information previously furnished to or
discovered by it or its representatives, other than this Note and the Related
Documents, (b) there are no covenants or agreements by or on behalf of any party
or any of its respective Affiliates or representatives other than those
expressly set forth in this Note and the Related Documents, and (c) the parties'
respective rights and obligations with respect to this Agreement and the events
giving rise thereto will be solely as set forth in this Note and the Related
Documents.

     4.7 Specific Performance; Other Rights and Remedies. Each of Gearon and ATI
         -----------------------------------------------
(by its acceptance of this Note) recognizes and agrees that in the event the
other should refuse to perform any of its obligations under this Note or any
Related Document, the remedy at law would be inadequate and agrees that for
breach of such provisions, each of Gearon and ATI shall be entitled to
injunctive relief and to enforce its rights by an action for specific
performance to the extent permitted by Applicable Law. Each of Gearon and ATI
(by its acceptance of this Note) hereby waives any requirement for security or
the posting of any bond or other surety in connection with any temporary or
permanent award of injunctive, mandatory or other equitable relief. Nothing
herein contained shall be construed as prohibiting each of Gearon and ATI from
pursuing any other remedies available to it pursuant to the provisions of, and
subject to the limitations contained in, this Note and the Related Documents for
such breach or threatened breach, including without limitation the recovery of
damages, including, to the extent awarded in any Legal Action, punitive,
incidental and consequential damages (including without limitation damages for
diminution in value and loss of anticipated profits) or any other measure of
damages permitted by Applicable Law.

     4.8 Business Days. If the last or appointed day for taking of any action
         -------------
required or permitted hereby or by this Note (other than the payment of
principal of or interest or premium, if any, on the Notes) shall not be a
Business Day such action may be taken on the next succeeding Business Day,
during which interest shall continue to accrue.

     4.9 Headings. The headings contained in this Note are for reference
         --------
purposes only and shall not limit or otherwise affect the meaning of any
provision of this Note.

     4.10 Severability. If any term or provision of this Note shall be held or
          ------------
deemed to be, or shall in fact be, invalid, inoperative, illegal or
unenforceable as applied to any particular case in any

                                        8

<PAGE>

jurisdiction or jurisdictions, or in all jurisdictions or in all cases, because
of the conflicting of any provision with any constitution or statute or rule of
public policy or for any other reason, such circumstance shall not have the
effect of rendering the provision or provisions in question invalid,
inoperative, illegal or unenforceable in any other jurisdiction or in any other
case or circumstance or of rendering any other provision or provisions herein
contained invalid, inoperative, illegal or unenforceable to the extent that such
other provisions are not themselves actually in conflict with such constitution,
statute or rule of public policy, but this Note shall be reformed and construed
in any such jurisdiction or case as if such invalid, inoperative, illegal or
unenforceable provision had never been contained herein and such provision
reformed so that it would be valid, operative and enforceable to the maximum
extent permitted in such jurisdiction or in such case. Notwithstanding the
foregoing, in the event of any such determination the effect of which is to
affect materially and adversely either Gearon or ATI, Gearon shall and ATI (by
its acceptance hereof agrees to) negotiate in good faith to modify this Note so
as to effect the original intent of the parties as closely as possible to the
fullest extent permitted by Applicable Law in an acceptable manner to the end
that the intent and purposes of this Note are fulfilled and consummated to the
maximum extent possible.

     4.11 Mutual Drafting. This Note is the result of the joint efforts of
          ---------------
Gearon and ATI, and each provision hereof has been subject to the mutual
consultation, negotiation and agreement of the parties and there shall be no
construction against any party based on any presumption of that party's
involvement in the drafting thereof.

     IN WITNESS WHEREOF, J. Michael Gearon, Jr. has duly executed and delivered
this Note as of the date first above written.

                                               /s/ J. Michael Gearon, Jr.
                                          ------------------------------------
                                                   J. Michael Gearon, Jr.

                                        9

<PAGE>

                                                                     SCHEDULE I

                             J. MICHAEL GEARON, JR.

                      7% SECURED NONRECOURSE NOTE DUE 2010

                       PAYMENTS OF PRINCIPAL AND INTEREST

--------------------------------------------------------------------------------

                                   Amount Repaid         Unpaid
                                   -------------        Principal       Notation
Date     Amount Advanced        Principal  Interest      Balance        Made By
----     ---------------        ---------  --------     ---------       -------

                                       10

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