Document:

<PAGE>

                                 PROMISSORY NOTE

$50,000.00                                                      October 21, 2005
 ---------

        1.      AMOUNT; OBLIGATION TO PAY; INTEREST RATE. FOR VALUE RECEIVED, as
hereinafter set forth and at the times hereinafterstated, REIT, Americas, Inc. a
Maryland corporation (the "Maker"), whose mailing address is 2960 N. Swan Road,
Suite 300, Tucson, AZ, promises to pay to the order of ATLANTIS CAPITAL, INC.
(the "Payee"), whose mailing address is 1 TILDEN PLACE, NORWOOD, NJ 07648 in
funds constituting legal tender of the United States of America, the principal
sum of FIFTY THOUSAND DOLLARS ($50,000.00) with interest as set forth in
Paragraph 3 hereof.

        2.      SERIES OF NOTES. This Note is one of a series of identical
promissory notes issued concurrently in connection with a private placement of
notes and common stock purchase warrants by Maker (the "Private Placement").

        3.      INTEREST RATE. Interest shall accrue on the unpaid principal
balance of this Note from the date of issuance until paid in full at the rate of
eight percent (8%) per year, calculated on a 365/366 day year, as applicable,
provided, however, that upon an Event of Default, interest shall accrue as
provided in Paragraph 7 hereof.

        4.      RESERVE ACCOUNT. Upon issuance of this Note Maker shall deposit
in an account (the "Reserve Account") an amount equal to 8% of the total
principal amount of all Notes issued in connection with the Private Placement.
The funds in the Reserve Account shall be reserved and used only to make
interest payments under said Notes pursuant to the terms hereof, and said funds
shall be reduced by 1/4 on each quarterly payment date until the balance the
Reserve Account is reduced to zero.

        5.      PAYMENT TERMS. This Note shall be paid as follows: (a) quarterly
payments of interest only on each April 1st, July 1st, October 1st and January
1st until the Maturity Date, and (b) a final balloon payment of outstanding
principal and all accrued and unpaid interest on the date that is the earlier of
September 30, 2007.

        6.      MANNER AND PLACE OF PAYMENT; HOLIDAYS. All payments on this Note
shall be made in coin or currency which, at the time or times of payment,
constitute legal tender for public or private debts in the United States of
America. All payments on this Note shall be made to Payee at the address stated
above, or at such other address as Payee shall designate in writing. If the
prescribed date of payment of any of the principal or interest hereon is a
Saturday, Sunday or legal holiday, such payment shall be due on the next
succeeding business day.

        7.      EVENTS OF DEFAULT AND ACCELERATION. Time is of the essence of
this Note. The occurrence of the event shall constitute an "Event of Default"
hereunder: (i) Maker's failure to pay timely any amount due hereunder; (ii)
bankruptcy, reorganization, insolvency or liquidation proceedings or other
proceedings for relief under any bankruptcy law or any law for the relief of
debtors shall be instituted by or against Maker and, if instituted against
Maker, Maker shall by any action or answer approve of, consent to or acquiesce
in any such proceedings or admit the

<PAGE>

material allegations of, or default in answering a petition filed in any such
proceeding or such proceedings shall not be dismissed within ninety (90)
calendar days thereafter; or (iii) any breach by Maker, that remains uncured for
greater than 5 days after receipt of written notice of same, of any of the terms
of this Note (other than payment obligations), the Common Stock Purchase
Warrants issued by Maker in connection with the Private Placement, or the
Registration Rights Agreement entered into by Maker in connection with the
Private Placement. If any such Event of Default occurs, Payee may, then or at
any time thereafter, without notice (except as may be required by law), and at
its option, accelerate maturity and cause the entire unpaid principal balance of
this Note, with interest, fees and charges accrued hereon, to become immediately
due and payable. If Payee waives Payee's right to accelerate maturity as a
result of an Event of Default hereunder, either one or more time or repeatedly,
nevertheless Payee shall not be deemed to have waived the right to require
strict compliance with the terms of this Note thereafter.

        8.      INTEREST AFTER EVENT OF DEFAULT, ACCELERATION OR MATURITY. Upon
an occurrence of an Event of Default hereunder, the entire unpaid balance of
said principal sum and interest then accrued shall bear interest, while such
Event of Default continues both before and after judgment, at ten percent (10%)
per year on the unpaid balance until paid, calculated on a 365/366 day year, as
applicable.

        9.      APPLICATION OF PAYMENTS. All sums paid hereon shall be applied
first to the payment of accrued interest due on the unpaid principal balance and
the remainder to the reduction of unpaid principal.

        10.     ATTORNEY'S FEES AND EXPENSES. In the event that Payee or other
holder of this Note brings suit hereon, or employs an attorney or incurs
expenses to compel payment of this Note or any portion of the indebtedness
evidenced hereby, or to cure any Event of Default under this Note, whether
through suit, probate, insolvency, reorganization, bankruptcy or any other legal
or informal proceeding, the Maker and all endorsers, guarantors and sureties
agree additionally to pay all reasonable attorney's fees, court costs and other
reasonable expenses thereby incurred by Payee or other holder of this Note.

        11.     WAIVER. Except as may be required by law, Maker and all
endorsers, guarantors, sureties and accommodation parties of this Note, both
before and after maturity, hereby expressly (i) waive all protest, notice of
protest, demand for payment, presentment for payment, notice of intention to
accelerate maturity, notice of acceleration of maturity, notice of dishonor,
bringing of suit, and diligence in taking any action to collect any amounts
called for hereunder and in the handling of properties, rights or collateral at
any time existing in connection herewith; (ii) consent to and waive notice of
any one or more renewal, extension or modification of this Note, whether made to
or in favor of the Maker or any other person or persons, regardless whether such
renewal, extension or modification modifies the terms, interest rate or time for
payment of the Note and regardless of the length of term of the renewal,
extension or modification; (iii) consent to and waive notice of any
substitution, exchange or release of any security hereafter given for this Note;
(iv) consent to and waive notice of the release of any party primarily or
secondarily liable hereon; (v) consent to and waive notice of any other
indulgences, none of which shall otherwise affect the liability of any of said
parties for the indebtedness evidenced by this Note; and (vi) agree that it will
not be necessary for Payee, in order to enforce

<PAGE>

payment of this Note, first to institute suit against or to exhaust Payee's
remedies against Maker or any other party liable hereunder, or to proceed
against any other security for this Note.

        12.     PARTIES IN INTEREST. This Note may be assigned by Payee at any
time upon notice to Maker. This Note may not be assigned by Maker without the
prior written consent of Payee. This Note will be binding in all respects upon
Maker and inure to the benefit of Payee and its permitted successors and
assigns.

        13.     DEFINITIONS. The terms "Maker" and "Payee" and other nouns and
pronouns include the singular and/or the plural, as appropriate. The terms
"Maker" and "Payee" also include their respective heirs, personal
representatives, permitted successors and assigns. The term "Payee" includes
subsequent permitted holders of this Note. Where the Maker is a partnership or
joint venture, the term "Maker" also includes each partner or joint venturer in
such party's personal capacity.

        14.     CHOICE OF LAW; VENUE. All questions concerning the construction,
validity, enforcement and interpretation of this Note shall be governed by and
construed and enforced in accordance with the internal laws of the State of
Florida, without regard to the principles of conflicts of law thereof. Each
party agrees that all proceedings concerning the interpretations, enforcement
and defense of the transactions contemplated by this Note (whether brought
against a party hereto or its respective affiliates, directors, officers,
shareholders, employees or agents) shall be commenced exclusively in the state
and federal courts sitting in Palm Beach County, Florida. Each party hereto
hereby irrevocably submits to the exclusive jurisdiction of the state and
federal courts sitting in Palm Beach County, Florida 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 proceeding, any claim that it is not personally subject to the
jurisdiction of any such court, that such proceeding is improper. Each party
hereto hereby irrevocably waives personal service of process and consents to
process being served in any such proceeding by mailing a copy thereof via
registered or certified mail or overnight delivery (with evidence of delivery)
to such party at the address in effect for notices to it under this Note 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. The parties hereto
hereby irrevocably waive, to the fullest extent permitted by applicable law, any
and all right to trial by jury in any legal proceeding arising out of or
relating to this Note or the transactions contemplated hereby. If any party
shall commence a proceeding to enforce any provisions of this Note, then the
prevailing party in such proceeding shall be reimbursed by the other party for
its reasonable attorneys fees and other costs and expenses incurred with the
investigation, preparation and prosecution of such proceeding.

        15.     NOTICE. All notices and other communications required or
permitted hereunder shall be in writing and shall be deemed to have been duly
given one (1) business day after delivery to an overnight carrier with
instructions to deliver to the applicable address set forth above, or, if sent
by facsimile, upon receipt of a confirmation of delivery.

<PAGE>

        THIS NOTE REPRESENTS THE FINAL AGREEMENT BETWEEN THE PARTIES AND MAY NOT
BE CONTRADICTED BY EVIDENCE OF PRIOR, CONTEMPORANEOUS OR SUBSEQUENT ORAL
AGREEMENTS OF THE PARTIES.

        THERE ARE NO UNWRITTEN ORAL AGREEMENTS BETWEEN THE PARTIES.

        IN WITNESS WHEREOF, Maker has executed this Note effective as of the
date first set forth above.

                                      MAKER:

                                      REIT Americas, Inc.

                                      By:   /s/ F. Dale Markham
                                            ------------------------------------
                                      Name: F. Dale Markham
                                            ------------------------------------
                                      Its:  President
                                            ------------------------------------<PAGE>

                                 PROMISSORY NOTE

$25,000.00                                                      October 21, 2005
 ---------

        1.      AMOUNT; OBLIGATION TO PAY; INTEREST RATE. FOR VALUE RECEIVED, as
hereinafter set forth and at the times hereinafterstated, REIT, Americas, Inc. a
Maryland corporation (the "Maker"), whose mailing address is 2960 N. Swan Road,
Suite 300, Tucson, AZ, promises to pay to the order of ALAN S. FISHBONE (the
"Payee"), whose mailing address is 535 EAST 86TH ST., NEW YORK, NY 10028 in
funds constituting legal tender of the United States of America, the principal
sum of TWENTY-FIVE THOUSAND DOLLARS ($25,000.00) with interest as set forth in
Paragraph 3 hereof.

        2.      SERIES OF NOTES. This Note is one of a series of identical
promissory notes issued concurrently in connection with a private placement of
notes and common stock purchase warrants by Maker (the "Private Placement").

        3.      INTEREST RATE. Interest shall accrue on the unpaid principal
balance of this Note from the date of issuance until paid in full at the rate of
eight percent (8%) per year, calculated on a 365/366 day year, as applicable,
provided, however, that upon an Event of Default, interest shall accrue as
provided in Paragraph 7 hereof.

        4.      RESERVE ACCOUNT. Upon issuance of this Note Maker shall deposit
in an account (the "Reserve Account") an amount equal to 8% of the total
principal amount of all Notes issued in connection with the Private Placement.
The funds in the Reserve Account shall be reserved and used only to make
interest payments under said Notes pursuant to the terms hereof, and said funds
shall be reduced by 1/4 on each quarterly payment date until the balance the
Reserve Account is reduced to zero.

        5.      PAYMENT TERMS. This Note shall be paid as follows: (a) quarterly
payments of interest only on each April 1st, July 1st, October 1st and January
1st until the Maturity Date, and (b) a final balloon payment of outstanding
principal and all accrued and unpaid interest on the date that is the earlier of
September 30, 2007.

        6.      MANNER AND PLACE OF PAYMENT; HOLIDAYS. All payments on this Note
shall be made in coin or currency which, at the time or times of payment,
constitute legal tender for public or private debts in the United States of
America. All payments on this Note shall be made to Payee at the address stated
above, or at such other address as Payee shall designate in writing. If the
prescribed date of payment of any of the principal or interest hereon is a
Saturday, Sunday or legal holiday, such payment shall be due on the next
succeeding business day.

        7.      EVENTS OF DEFAULT AND ACCELERATION. Time is of the essence of
this Note. The occurrence of the event shall constitute an "Event of Default"
hereunder: (i) Maker's failure to pay timely any amount due hereunder; (ii)
bankruptcy, reorganization, insolvency or liquidation proceedings or other
proceedings for relief under any bankruptcy law or any law for the relief of
debtors shall be instituted by or against Maker and, if instituted against
Maker, Maker shall by any action or answer approve of, consent to or acquiesce
in any such proceedings or admit the

<PAGE>

material allegations of, or default in answering a petition filed in any such
proceeding or such proceedings shall not be dismissed within ninety (90)
calendar days thereafter; or (iii) any breach by Maker, that remains uncured for
greater than 5 days after receipt of written notice of same, of any of the terms
of this Note (other than payment obligations), the Common Stock Purchase
Warrants issued by Maker in connection with the Private Placement, or the
Registration Rights Agreement entered into by Maker in connection with the
Private Placement. If any such Event of Default occurs, Payee may, then or at
any time thereafter, without notice (except as may be required by law), and at
its option, accelerate maturity and cause the entire unpaid principal balance of
this Note, with interest, fees and charges accrued hereon, to become immediately
due and payable. If Payee waives Payee's right to accelerate maturity as a
result of an Event of Default hereunder, either one or more time or repeatedly,
nevertheless Payee shall not be deemed to have waived the right to require
strict compliance with the terms of this Note thereafter.

        8.      INTEREST AFTER EVENT OF DEFAULT, ACCELERATION OR MATURITY. Upon
an occurrence of an Event of Default hereunder, the entire unpaid balance of
said principal sum and interest then accrued shall bear interest, while such
Event of Default continues both before and after judgment, at ten percent (10%)
per year on the unpaid balance until paid, calculated on a 365/366 day year, as
applicable.

        9.      APPLICATION OF PAYMENTS. All sums paid hereon shall be applied
first to the payment of accrued interest due on the unpaid principal balance and
the remainder to the reduction of unpaid principal.

        10.     ATTORNEY'S FEES AND EXPENSES. In the event that Payee or other
holder of this Note brings suit hereon, or employs an attorney or incurs
expenses to compel payment of this Note or any portion of the indebtedness
evidenced hereby, or to cure any Event of Default under this Note, whether
through suit, probate, insolvency, reorganization, bankruptcy or any other legal
or informal proceeding, the Maker and all endorsers, guarantors and sureties
agree additionally to pay all reasonable attorney's fees, court costs and other
reasonable expenses thereby incurred by Payee or other holder of this Note.

        11.     WAIVER. Except as may be required by law, Maker and all
endorsers, guarantors, sureties and accommodation parties of this Note, both
before and after maturity, hereby expressly (i) waive all protest, notice of
protest, demand for payment, presentment for payment, notice of intention to
accelerate maturity, notice of acceleration of maturity, notice of dishonor,
bringing of suit, and diligence in taking any action to collect any amounts
called for hereunder and in the handling of properties, rights or collateral at
any time existing in connection herewith; (ii) consent to and waive notice of
any one or more renewal, extension or modification of this Note, whether made to
or in favor of the Maker or any other person or persons, regardless whether such
renewal, extension or modification modifies the terms, interest rate or time for
payment of the Note and regardless of the length of term of the renewal,
extension or modification; (iii) consent to and waive notice of any
substitution, exchange or release of any security hereafter given for this Note;
(iv) consent to and waive notice of the release of any party primarily or
secondarily liable hereon; (v) consent to and waive notice of any other
indulgences, none of which shall otherwise affect the liability of any of said
parties for the indebtedness evidenced by this Note; and (vi) agree that it will
not be necessary for Payee, in order to enforce

<PAGE>

payment of this Note, first to institute suit against or to exhaust Payee's
remedies against Maker or any other party liable hereunder, or to proceed
against any other security for this Note.

        12.     PARTIES IN INTEREST. This Note may be assigned by Payee at any
time upon notice to Maker. This Note may not be assigned by Maker without the
prior written consent of Payee. This Note will be binding in all respects upon
Maker and inure to the benefit of Payee and its permitted successors and
assigns.

        13.     DEFINITIONS. The terms "Maker" and "Payee" and other nouns and
pronouns include the singular and/or the plural, as appropriate. The terms
"Maker" and "Payee" also include their respective heirs, personal
representatives, permitted successors and assigns. The term "Payee" includes
subsequent permitted holders of this Note. Where the Maker is a partnership or
joint venture, the term "Maker" also includes each partner or joint venturer in
such party's personal capacity.

        14.     CHOICE OF LAW; VENUE. All questions concerning the construction,
validity, enforcement and interpretation of this Note shall be governed by and
construed and enforced in accordance with the internal laws of the State of
Florida, without regard to the principles of conflicts of law thereof. Each
party agrees that all proceedings concerning the interpretations, enforcement
and defense of the transactions contemplated by this Note (whether brought
against a party hereto or its respective affiliates, directors, officers,
shareholders, employees or agents) shall be commenced exclusively in the state
and federal courts sitting in Palm Beach County, Florida. Each party hereto
hereby irrevocably submits to the exclusive jurisdiction of the state and
federal courts sitting in Palm Beach County, Florida 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 proceeding, any claim that it is not personally subject to the
jurisdiction of any such court, that such proceeding is improper. Each party
hereto hereby irrevocably waives personal service of process and consents to
process being served in any such proceeding by mailing a copy thereof via
registered or certified mail or overnight delivery (with evidence of delivery)
to such party at the address in effect for notices to it under this Note 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. The parties hereto
hereby irrevocably waive, to the fullest extent permitted by applicable law, any
and all right to trial by jury in any legal proceeding arising out of or
relating to this Note or the transactions contemplated hereby. If any party
shall commence a proceeding to enforce any provisions of this Note, then the
prevailing party in such proceeding shall be reimbursed by the other party for
its reasonable attorneys fees and other costs and expenses incurred with the
investigation, preparation and prosecution of such proceeding.

        15.     NOTICE. All notices and other communications required or
permitted hereunder shall be in writing and shall be deemed to have been duly
given one (1) business day after delivery to an overnight carrier with
instructions to deliver to the applicable address set forth above, or, if sent
by facsimile, upon receipt of a confirmation of delivery.

<PAGE>

        THIS NOTE REPRESENTS THE FINAL AGREEMENT BETWEEN THE PARTIES AND MAY NOT
BE CONTRADICTED BY EVIDENCE OF PRIOR, CONTEMPORANEOUS OR SUBSEQUENT ORAL
AGREEMENTS OF THE PARTIES.

        THERE ARE NO UNWRITTEN ORAL AGREEMENTS BETWEEN THE PARTIES.

        IN WITNESS WHEREOF, Maker has executed this Note effective as of the
date first set forth above.

                                      MAKER:

                                      REIT Americas, Inc.

                                      By:   /s/ F. Dale Markham
                                            ------------------------------------
                                      Name: F. Dale Markham
                                            ------------------------------------
                                      Its:  President
                                            ------------------------------------

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