Document:

<PAGE>

                                                                   Exhibit 10.12

                                PROMISSORY NOTE
                                  (Term Loan)

$1,250,000.00                                         East Brunswick, New Jersey

                                                 Effective Date: January 2, 2001

          The undersigned, and if more than one, each of them jointly and
severally, (hereinafter called "Maker" or "Obligor") unconditionally promises to
pay to the order of AmSouth Bank, an Alabama banking corporation (hereinafter,
together with any holder hereof, called "Holder"), at its office at 13535
Feather Sound Drive, Bldg. 1, Suite 620, Clearwater, Florida 33762, or at such
other place as Holder may from time to time designate, the principal sum of One
Million Two Hundred Fifty Thousand and No/100 Dollars ($1,250,000.00), or so
much thereof as has been advanced hereunder, with interest thereon from the date
hereof at a variable interest rate of the thirty-day "LIBOR Rate", plus one
hundred eighty-five (185) Basis Points per annum ("Basis Point" is defined in
that certain Amended and Restated Loan Agreement dated May 24, 2000, as further
amended on even date herewith). For the purposes of this Note and Loan, the
"LIBOR Rate" shall mean the average offered rate in the London interbank market
for deposits in U.S. Dollars for thirty (30) days as published in the Wall
Street Journal, or such other comparable financial information reporting service
used by the Holder at the time such LIBOR rate is determined, subject to change
on the same day of every month and based on the most recent LIBOR rate
reasonably available to the Holder on the date of change.

          Any interest rate based on a fluctuating index or base rate will,
unless otherwise provided, change each time and as of the date that the index
or base rate changes. Obligor expressly acknowledges and consents that said
interest shall be calculated based upon a three hundred sixty-day (360 day) year
for actual days elapsed.

          Interest only shall be paid for the initial twelve (12) months
commencing with the first payment on February 1, 2001. Commencing on February 1,
2002, payments of principal in the amount of $20,833.00 plus all accrued
interest shall be payable monthly, and continuing on the same day of each
successive month thereafter, with a final payment of all unpaid principal and
interest thereon on January 1, 2006.

<PAGE>

       All payments received hereunder shall be applied first to the payment of
any expenses or charges payable hereunder or under any other loan documents,
then to interest due and payable, with the balance being applied to principal,
or in such other order as the Holder shall determine at its option. Prepayments
may be made in whole or in part at any time without penalty. All prepayments of
principal shall be applied in the inverse order of maturity.

       If any payment is more than fifteen (15) days late, Obligor agrees to
pay Holder a late charge equal to five percent (5%) of the late payment.

       After the maturity or due date of this Note, through acceleration or
otherwise, interest shall accrue on the principal balance remaining unpaid at
a rate per annum (the "Default Rate") equal to five percent (5%) per annum
above the interest rate stated above, but in no event shall interest accrue
after maturity at a rate in excess of the highest rate authorized by applicable
law.

       The indebtedness evidenced by this Note, and all other indebtedness of
Obligor to Holder, however and whenever incurred or evidenced, whether
primary, secondary, direct, indirect, absolute, contingent, sole, joint or
several, due to become due, or which may be hereafter contracted or acquired,
whether arising in the ordinary course of business or otherwise (hereinafter
with this Note collectively called "Liabilities"), is secured by that certain
Security Agreement of even date herewith, including all proceeds thereof and
rights in connection therewith, which property, together with additions and
substitutions, is called the "Collateral". Holder shall have such rights with
respect to the Collateral as is authorized by law. If Obligor has other loans
with Holder, or if Obligor takes out other loans with Holder in the future,
collateral securing those loans will also secure this Note, except that no
real estate will secure this Note. Any default in this Note shall constitute
a default in any other note between Maker and Holder, and any default in any
other note shall constitute a default in this Note. Maker, endorser, surety,
guarantor, or other parties to this Note (all of whom are hereinafter called
"Obligor") jointly and severally agree as follows:

       Additions to, releases, reductions or exchanges of or substitutions
for the Collateral, payments on account of this loan or increase of the
same, or other loans made partially or wholly

StrandTek International, Inc.
Term Promissory Note                 -2-

<PAGE>

upon the Collateral, may from time to time be made without affecting the
provisions of this Note or the Liabilities of any party hereto. If any of the
Collateral is personal property, Holder shall exercise reasonable care in the
custody and preservation of the Collateral in its possession, and shall be
deemed to have exercised reasonable care if it takes such action for that
purpose as Maker shall reasonably request in writing, but no omission to comply
with any request of Maker shall of itself be deemed a failure to exercise
reasonable care. Holder shall not be bound to take any steps necessary to
preserve any rights in the Collateral against prior parties, and Maker shall
take all necessary steps for such purposes. Holder or its nominee need not
collect interest on or principal of any Collateral or give any notice with
respect thereto..

          Obligor shall be in default hereunder upon the nonpayment of any
interest or principal hereunder, when due, In addition, Obligor shall be in
default hereunder if any of the following shall occur: (a) failure of any
Obligor to perform any agreement hereunder or otherwise a part of this
transaction or to pay in full, when due, any Liabilities whatsoever to Holder or
any installment thereof or interest thereon; (b) the dissolution, termination of
existence, insolvency, or business failure of any Obligor to this Note,
appointment of a receiver of any part of the property of any such party,
assignment for the benefit of creditors by or the commencement of any
proceedings in bankruptcy or insolvency by or against Maker or any Obligor;(c)
the entry of a judgment against any Obligor not satisfied or reduced to bond
within thirty (30) days; (d) the issuing of any attachment or garnishment, or
the filing of any lien against any property of any Obligor not satisfied or
reduced to bond within thirty (30) days; (e) the taking of possession of any
substantial part of the property of any Obligor at the instance of any
governmental authority; (f) falsity in any material respect of, or any material
omission in, any representation or statement made to Holder by or on behalf of
Obligor in connection with this Note or this transaction; or (g) the pledge,
assignment, transfer or granting of a security interest by any Maker of any
equity in any of the Collateral without the written consent of Holder.

StrandTek International, Inc.
Term Promissory Note                  -3-
<PAGE>

          Holder shall have all rights and remedies of a creditor, mortgagee,
and secured party under all applicable law. Without limiting the generality of
the foregoing, upon the occurrence of any default hereunder, Holder may at its
option and without notice or demand: (a) declare the entire unpaid principal and
accrued interest accelerated and due and payable at once, together with any and
all other Liabilities of any Obligor or any of such Liabilities selected by
Holder; and (b) set off against this Note all money owed by Holder in any
capacity to each or any Obligor whether or not due, and also set off against all
other Liabilities of each Maker to Holder all money owed by Holder in any
capacity to any Maker, and Holder shall be deemed to have exercised such right
of set-off and to have made a charge against any such money immediately upon the
occurrence of such default although made or entered on the books subsequent
thereto. To the extent that any of the Collateral is personal property and the
Holder elects to proceed with respect to it in accordance with the Uniform
Commercial Code, then unless that Collateral is perishable or threatens to
decline speedily in value or is of a type customarily sold on a recognized
market, Holder shall give Maker reasonable notice of the time and place of any
public or private sale thereof. The requirement of reasonable notice shall be
met if such notice is mailed, postage prepaid, to any Maker at the address given
below or at any other address shown on the records of Holder at least five (5)
days before the time of sale. Upon disposition of any Collateral after the
occurrence of any default hereunder, Maker shall be and shall remain liable for
any deficiency; and Holder shall account to Maker for any surplus, but Holder
shall have the right to apply all or part of such surplus (or to hold the same
as a reserve) against any and all other Liabilities of each or any Maker to
Holder.

          Holder may, at any time whether or not this Note is due: (a) pledge or
transfer this Note and its interest in the Collateral, whereupon Holder shall be
relieved of all duties and responsibilities hereunder and relieved from any and
all liability with respect to any Collateral so pledged or transferred, and such
pledgee or transferee shall for all purposes stand in the place of Holder
hereunder and have all the rights of Holder hereunder; (b) transfer the whole or
part of the Collateral into the name of itself or its nominee; (c) move the
Collateral; (d) notify the Obligor on

StrandTek International, Inc.
Term Prommissory Note                 -4-
<PAGE>

any Collateral to make payment to Holder of any amounts due or to become due
thereon; (e) demand, sue for, collect, or make any compromise or settlement it
deems desirable with reference to the Collateral; (f) take possession or control
of any proceeds of the Collateral; and (g) exercise all other rights necessary
or required, in Holder's discretion, in order to protect its interest hereunder.

          In no event shall Holder be entitled to unearned or unaccrued interest
or other charges or rebates, except as may be authorized by law; nor shall any
party be entitled to receive at any time any such charges not allowed or
permitted by law; or any interest in excess of the highest lawful rate.  Any
payments of interest in excess of the highest lawful rate shall be credited by
Holder on interest accrued or principal or both; except that Maker shall have an
option to demand refund as to any such interest or charges in excess of the
highest lawful rate.  Maker expressly waives any claim for usury without first
notifying Holder of such claim and allowing Holder to make such adjustments or
credits as provided for herein.

          No delay or omission on the part of Holder in exercising any right
hereunder shall operate as a waiver of such right or of any other rights under
this Note.  Presentment, demand, protest, notice of dishonor and all other
notices are hereby waived by each and every Obligor.  Obligor, jointly and
severally, promises and agrees to pay all costs of collection and reasonable
attorneys' fees, including reasonable attorneys' fees of any suit, out of court,
in trial, on appeal, in bankruptcy proceedings or otherwise, incurred or paid by
Holder in enforcing this Note or preserving any right or interest of Holder
hereunder.  Any notice to Maker shall be sufficiently served for all purposes if
placed in the mail, postage prepaid, addressed to, or left upon the premises,
at the address shown below or any other address shown on Holder's records.

          Each Obligor hereby expressly consents to any and all extensions,
modifications and renewals, in whole or in part, including but not limited to
changes in payment schedules and interest rates, and all delays in time of
payment or other performance which Holder may grant or permit at any time and
from time to time without limitation and without any notice to or further
consent of any Obligor.  Each Obligor shall also be bound by each of the
foregoing terms, and those contained in

StandTek International, Inc.
Term Promissory Note                  -5-
<PAGE>

any guaranty incident to this loan transaction are deemed to be a part of this
Note, without the requirement that Holder first go against any security interest
otherwise held by Holder.

     OBLIGOR HEREBY WAIVES RIGHT TO TRIAL BY JURY IN ANY ACTION BROUGHT ON THIS
NOTE OR ON ANY MATTER ARISING IN CONNECTION WITH THIS NOTE.

     The interest rate charged in this Note is authorized by Chapter 665,
Florida Statutes, and Section 687.12, Florida Statutes, U.S. Code 85; Title V,
Public Law 96-221.

     There are no documentary stamp tax due on the face amount of this Note.
Notwithstanding the foregoing, should a determination be made that any
documentary stamp tax is or shall become due in connection herewith, including,
without limitation, any advances which, when added together, exceed the face
amount of this Note, Obligor shall, immediately upon request by Holder, remit
payment of such tax and Obligor shall indemnify and hold Holder harmless of and
from any and all taxes, fees, charges, or any other sums required to be paid in
connection herewith.

     All capitalized terms used in this Note that are not otherwise defined
shall have the meanings given to them in that certain Amended and Restated Loan
Agreement dated May 24, 2000, as further amended, applicable to this Note

                                                   StrandTek International,
                                                   Inc., a Florida corporation

Maker's Address:                                   By: /s/ Jerome Baumann
                                                       -------------------------
13535 S. Torrence Ave. Bldg Q                             Jerome Baumann
Chicago, IL 60633-2164                             Its:   President
Maker's FEID# 65-059989

StrandTek International, Inc.
Term Promissory Note                  -6-
<PAGE>

STATE OF NEW JERSEY

COUNTY OF MIDDLESEX

     The foregoing instrument was acknowledged before me this 2nd day of
January, 2001, by Jerone Baumann as President of StrandTek International, Inc.,
a Florida corporation, on behalf of the corporation. He is personally known to
me or has produced Florida Driver Licence (type of identification) as
identification.

                                  /s/ Ashraf Fouad
                                  ----------------------------------------------
                                  Signature of Person Taking Acknowledgement

                                  Ashraf Fouad
                                  ---------------------------------------------
                                  Name of Acknowledger Typed, Printed or Stamped

                                  Notary Public, State of New Jersey
                                                          ----------------------
(NOTARY SEAL)                     Notarial Serial Number:_______________________

                                                        ASHRAF FOUAD
                                                        NOTARY PUBLIC
                                                     STATE OF NEW JERSEY
                                            MY COMMISSION EXPIRES SEPT. 14, 2005

StrandTek International, Inc.
Term Promissory Note                  -7-
<PAGE>

               AFFIDAVIT OF OUT-OF-STATE EXECUTION AND DELIVERY

                                    PART I
                                    ------

STATE OF New Jersey

COUNTY OF Middlesex

     BEFORE ME, the undersigned authority, this day personally appeared Jerome
Baumann ("Affiant"), who, being first duly sworn, upon oath, says:

     1.   Affiant is the President of StrandTek International, Inc., a Florida
corporation (the "Borrower") whose principal office is located at 13535 S.
Torrence Avenue, Bldg Q, Chicago, IL 60633-2164, and is authorized to make this
Affidavit on behalf of the Borrower.

     2.   On the date hereof, Affiant, on behalf of Borrower, executed a
Promissory Note and Amendment to Amended and Restated Loan Agreement, and
various other documents related thereto (the "Documents") having an effective
date of January 2, 2001, in the principal amount of $1,250,000.00 in favor of
AMSOUTH BANK ("AmSouth") in the city of East Brunswick, located in the state and
county above written, and Affiant then delivered the Documents to Victoria
Sparks, as Agent of AmSouth, in Birmingham, Alabama

     DATED this 2nd day of January, 2001.

     FURTHER AFFIANT SAYETH NOT.

                              /s/ Jerome Baumann
                              -------------------------------------------------
                              Jerome Baumann

     SWORN TO and subscribed before me this 2nd day of January, 2001, by Jerome
Baumann, who [CHECK WHERE APPLICABLE] ____ is personally known to me or X has
                                                                        -
produced Florida Driver Licence as identification.

                                              /s/ Ashraf Fouad
                                              ----------------------------------
                                              Notary Public, State of New Jersey
                                              Ashraf Fouad
Affix Notary Seal                             ----------------------------------
                                              (stamped, typed/printed name)
                                              My Commission Expires:____________

<PAGE>

                                    PART II
                                    -------

STATE OF ALABAMA

COUNTY OF SHELBY

     BEFORE ME, the undersigned, a Notary Public in and for the County and State
aforesaid, personally appeared Victoria Sparks, the authorized agent of AmSouth
Bank, an Alabama banking corporation, 250 Riverchase Parkway E., RCS-6,
Birmingham, Alabama 35244 ("Agent"), who, being by me first duly sworn, stated:

     1.   The Agent is duly qualified authorized agent of AmSouth, an Alabama
banking corporation ("Bank"), for the purposes of accepting delivery of a
certain promissory note and Amendment to Amended and Restated Loan Agreement,
and various other documents related thereto (the "Documents") in the principal
amount of $1,250,000.00, made by StrandTek International, Inc., a Florida
corporation ("Borrower") in Shelby County, Alabama.

     2.   Agent has this day received delivery of the Documents in Shelby
County, Alabama from Borrower.

     DATED this 3 day of January, 2001.

                                    AMSOUTH BANK, an Alabama banking corporation

                                    By: /s/ Victoria Sparks
                                        ----------------------------------------
                                        Victoria Sparks
                                        Vice President

     SWORN TO and subscribed before me this 3 day of January, 2001, by Victoria
Sparks, as Vice President of AmSouth Bank, an Alabama banking corporation, on
behalf of the corporation, who [CHECK WHERE APPLICABLE] X is personally known to
                                                        -
me or ______ has produced ____________________________ as identification.

                                                /s/ Deborah Pappas Vandiver
                                                    ----------------------------
                                                Notary Public, State of Alabama
Affix Notary Seal                                   DEBORAH PAPPAS VANDIVER
                                                --------------------------------
                                                (stamped, typed/printed name)
                                                My Commission Expires:  11-08-04<PAGE>

                                                                   Exhibit 10.13

                     CONTINUING AND UNCONDITIONAL GUARANTY
                     -------------------------------------

     FOR VALUE RECEIVED, and to induce AmSouth Bank, an Alabama banking
corporation (herein called "Bank") whose address is 13535 Feather Sound Drive,
Building 1, Suite 620, Clearwater, Florida, 33762, to make a loan or advances or
to extend credit or other financial accommodation or benefit, with or without
security, to or for the account of StrandTek International, Inc., a Florida
corporation (herein called "Borrower"), the undersigned Guarantor (if more than
one, each of them jointly and severally) hereby becomes surety for and
irrevocably and unconditionally guarantees to Bank the payment when due, whether
by acceleration or otherwise, of any and all Liabilities (as hereinafter
defined) of Borrower to Bank. As used herein, "Note" shall mean the Renewal
Promissory Note having an effective date of January 2, 2001, together with all
modifications and renewals thereof, executed by Borrower in favor of Bank to
evidence a $2,500,000.00 term facility. Guarantor further covenants and agrees
as follows:

     1.     The term "Liability" or "Liabilities" as used herein shall include,
without limitation, all liabilities and obligations of Borrower to Bank incurred
pursuant to or arising under the Note (as defined herein) or other loan
documents executed in connection therewith; all obligations of the undersigned
hereunder, however and whenever incurred or evidenced, whether primary,
secondary, direct, indirect, absolute, contingent, sole, joint or several, due
or to become due, or which may be herein or hereafter contracted or acquired, or
incurred directly or indirectly as a result thereof, and all extensions or
renewals thereof and all sums payable under or by virtue thereof including,
without limitation, all amounts of principal and interest and all expenses
(including attorneys' fees and costs of collection incurred in the collection
thereof or the enforcement of Bank's rights), whether arising in the ordinary
course of business or otherwise, and whether held or to be held by Bank for its
own account or as agent for another or others. The term Liabilities as used
herein shall include all Liabilities of any successor entity or entities to
Bank.

     2.     The undersigned waives notice of acceptance of this Guaranty and
notice of any Liability to which it may apply and further waives presentment,
demand for payment, protest, notice of dishonor or nonpayment of any
Liabilities, and notice of any suit or the taking of other action by Bank
against Borrower and any other notice to any party liable thereon (including the
undersigned).

<PAGE>

     3.   Bank may at any time and from time to time, without notice to and
without incurring responsibility to the undersigned, and without impairing,
releasing or otherwise affecting the obligations of the undersigned in whole or
in part and without the endorsement or execution by the undersigned of any
additional consent, waiver or guaranty: (a) change the manner, place or terms of
payment, and change or extend the time of, or renew or alter, any Liability or
installment thereof, or any security therefor, and may loan additional monies or
extend additional credit to Borrower, with or without security, thereby creating
new Liabilities, the payment of which shall be guaranteed hereunder, and the
guaranty herein made shall apply to the Liabilities as so changed, extended,
renewed, increased or otherwise altered; (b) sell, exchange, release, surrender,
realize upon or otherwise deal with in any manner and in any order any property
at any time pledged or mortgaged to secure the Liabilities and any offset
thereagainst; (c) exercise or refrain from exercising any rights against
Borrower or others (including the undersigned) or act or refrain from acting in
any other manner; (d) settle or compromise any Liability or any security
therefor, and may subordinate the payment of all or any part thereof to the
payment of any Liability (whether or not due) of Borrower to creditors of
Borrower other than Bank and the undersigned; and (e) apply any sums from any
sources to any Liability without regard to any Liabilities remaining unpaid.

     4.   No invalidity, irregularity or unenforceability of all or any part of
the Liabilities or of any security therefor shall affect, impair or be a defense
to this Guaranty, and this Guaranty is a primary and absolute obligation of the
undersigned.

     5.   This Guaranty is a continuing one and all Liabilities to which it
applies or may apply under the terms hereof shall be conclusively presumed to
have been created in reliance hereon. No purported notice by Guarantor of
revocation or termination hereof shall affect in any manner rights arising under
this Guaranty with respect to Liabilities that shall have been created,
contracted, assumed or incurred prior to receipt by Bank of written notice of
such revocation or termination, or Liabilities that shall have been created,
contracted for, assumed or incurred after receipt of such written notice
pursuant to any agreement entered into by Bank prior to receipt of such notice,
and the sole effect of such notice of revocation or termination hereof shall be
to exclude from this

Continuing and Unconditional Guaranty
David M. Veltman - Loan B            -2-
<PAGE>

Guaranty Liabilities thereafter arising that are unconnected with Liabilities
theretofore arising or transactions theretofore entered into.

     6.   All notices provided to be given to Bank herein shall be sent by
registered or certified mail, return receipt requested, to the address shown in
the preamble to this Guaranty.

     7.   Any and all rights and claims of the undersigned against Borrower or
any of its property shall be subordinate and subject in right of payment to the
prior payment in full of all Liabilities to Bank.

     8.   Bank at all times shall have the right to require the undersigned to
deliver to Bank, as security for the Liabilities, original or additional
collateral satisfactory to Bank.

     9.   As security for the Liabilities, Bank is hereby given a lien upon,
security title to, and a security interest in all property of the undersigned
now or at any time hereafter in possession of Bank in any capacity whatsoever,
and whether joint or by the entireties, including but not limited to any balance
or share of any deposit, account, trust, agency or special account, or items of
monies of the undersigned now or hereafter in the possession or control of or
otherwise with Bank, to include all dividends and distributions thereon or other
rights in connection therewith, and Bank shall have access to such property as
authorized by law.  Without limiting the generality of the foregoing, Bank shall
have a prior perfected security interest to secure the Liabilities and may, at
any time or from time to time at its option and without notice: (a) appropriate
and apply towards the payment of any Liabilities the balance of any such account
of the undersigned; and (b) transfer into its own name or that of its nominee
any such property in the possession or custody of Bank.

     10.  The undersigned shall be in default hereunder upon: (a) non-payment of
any Liability when due; (b) failure of Borrower or the undersigned to perform
any agreement creating or otherwise affecting any Liability or any provision
hereof, or to pay in full, when due, any other obligation of Borrower or the
undersigned, or failure to pay when due any premium upon any life insurance
policy held as collateral for any Liability; (c) the death, dissolution,
termination of existence, insolvency, or business failure of Borrower or the
undersigned, appointment of a receiver of any part of the property of any such
party, assignment for the benefit of creditors by or the commencement of any

Continuing and Unconditional Guaranty
David M. Veltman - Loan B             -3-
<PAGE>

proceedings in bankruptcy or insolvency by or against Borrower or the
undersigned; (d) the entry of a judgment against Borrower or the undersigned;
(e) the issuing of any attachment or garnishment, or the filing of any lien
against any property of Borrower or the undersigned; (f) the taking of
possession of any substantial part of the property of Borrower or the
undersigned at the instance of governmental authority; (g) the merger,
consolidation or reorganization of Borrower or the undersigned; (h) the
determination by Bank that any material, adverse change has occurred in the
financial condition of Borrower or the undersigned from the conditions set forth
in the financial statements of any such party heretofore furnished to Bank or
from the condition of such party as heretofore most recently disclosed to Bank
in any manner; or (i) falsity in any material respect of, or any material
omission in, any representation or statement made to Bank by or on behalf of
Borrower or the undersigned in connection with any Liability or other obligation
of such parties.

     11.  If Bank shall deem itself insecure, or upon the occurrence of any
default hereunder, Bank shall have all of the remedies of a creditor and, to the
extent applicable, of a secured party, under all applicable law.  Without
limiting the generality of the foregoing, Bank may at its option and without
notice or demand: (a) declare any Liability accelerated and due and payable at
once; and (b) take possession of any collateral security wherever located, and
sell, resell, assign, transfer and deliver all or any part of said property of
Borrower or the undersigned, at any broker's board or exchange or at any public
or private sale, for cash or on credit or for future delivery, and in connection
therewith Bank may grant options and may impose reasonable conditions such as
requiring any purchaser of any stock so sold to represent that such stock is
purchased for investment purposes only, and, upon any such sale, Bank, unless
prohibited by law the provisions of which cannot be waived, may purchase all or
any part of said property to be sold, free from and discharge of all trusts,
claims, right of redemption and equities of the undersigned whatsoever; and (c)
set off against any or all Liabilities or other obligations of the undersigned
all money owed by Bank in any capacity to the undersigned whether or not due,
and also set off against all other Liabilities of Borrower or obligations of the
undersigned to Bank all money owned by Bank in any capacity to any Borrower of
the undersigned, and Bank shall be deemed to have exercised such right of
set-off and

Continuing and Unconditional Guaranty
David M. Veltman - Loan B             -4-
<PAGE>

to have made a charge against any such money immediately upon the occurrence of
such default although made or entered on the books subsequent thereto.

     12.  The undersigned shall pay all costs of collection and attorneys' fees
of the greater of: (a) ten per cent (10%) of any Liability due and unpaid if
Bank proceeds to collect such Liability through the services of an attorney at
law or by legal action, plus reasonable attorneys' fees incurred in appellate
proceedings; or (b) reasonable attorney's fees, including reasonable attorney's
fees of any suit, out of court, in trial, on appeal, in bankruptcy proceedings
or otherwise, incurred or paid by Bank in enforcing the payment of any Liability
or enforcing or preserving any right or interest of Bank hereunder, including
the collection, sale or delivery of any collateral security from time to time
pledged hereunder, and after deducting such fees, costs and expenses from the
proceeds of sale or collection, Bank may apply any residue to pay any of the
Liabilities, and the undersigned shall continue to be liable for any deficiency
with interest, which shall remain a Liability.

     13.  If claim is ever made upon Bank for repayment or recovery of any
amount or amounts received by Bank in payment or on account of any of the
Liabilities, and Bank repays all or part of said amount by reason of any
judgment, decree or order of any court or administrative body having
jurisdiction over Bank or any of its property or any settlement or compromise of
any such claim effected by Bank with any such claimant (including Borrower),
then the undersigned agree that any such judgment, decree, order, settlement or
compromise shall be binding upon the undersigned, notwithstanding any revocation
hereof or the cancellation of any note or other instrument evidencing any
Liability, and the undersigned shall be and remain liable to Bank hereunder for
the amount so repaid or recovered to the same extent as if such amount had never
originally been received by Bank.

     14.  Any acknowledgment, new promise, payment of principal or interest, or
otherwise, whether by Borrower or others (including the undersigned), with
respect to any of the Liabilities shall, if the statute of limitations in favor
of the undersigned against Bank shall have commenced to run, toll the running of
such statute of limitations and, if the period of such statute of limitations
shall have expired, prevent the operation of such statute of limitations.

Continuing and Unconditional Guaranty
David M. Veltman - Loan B             -5-
<PAGE>

     15.  Bank shall not be bound to take any steps necessary to preserve any
rights in any of the property of the undersigned against prior parties who may
be liable in connection therewith, and the undersigned hereby agree to take any
such steps.  Bank may nevertheless at anytime: (a) take any action it may deem
appropriate for the care or preservation of such property or of any rights of
the undersigned or Bank therein; (b) demand, sue for, collect or receive any
money or property at any time due, payable or receivable on account of or in
exchange for any property of the undersigned; (c) compromise and settle with any
person liable on such property; or (d) extend the time of payment or otherwise
change the terms thereof as to any party liable thereon, all without notice to,
without incurring responsibility to, and without affecting any of the
obligations of the undersigned.

     16.  No delay on the part of Bank in exercising any of its options, powers
or rights, or partial or single exercise thereof, shall constitute a waiver
thereof.  No waiver of any of its rights hereunder, and no modification or
amendment of this Guaranty, shall be deemed to be made by Bank unless the same
shall be in writing, duly signed on behalf of Bank, and each such waiver, if
any, shall apply only with respect to the specific instance involved, and shall
in no way impair the rights of Bank or the obligations of the undersigned to
Bank in any other respect at any other time.

     17.  Bank shall not be required to proceed first against Borrower, or any
other person, firm or corporation, whether primarily or secondarily liable, or
against any collateral security held by it, before resorting to the undersigned
for payment, and the undersigned shall not be entitled to assert as a defense to
the enforceability of the guaranty set forth herein any defense of Borrower with
respect to any Liability.

     18.  Bank shall have the right, at any time and from time to time, without
notice, to: (a) transfer into its own name or that of its nominee any of the
property of the undersigned; (b) notify any obligor on any such property to make
payment to Bank of any amounts due thereon; and (c) take control of any proceeds
of any such property.

     19.  The term "undersigned" wherever used herein shall mean the undersigned
or any one or more of them.  Anyone executing this Guaranty shall be bound by
the terms hereof without regard to execution by anyone else.  This Guaranty is
binding upon the undersigned, his, their or its

Continuing and Unconditional Guaranty
David M. Veltman - Loan B             -6-
<PAGE>

executors, administrators, successors and assigns, and shall inure to the
benefit of Bank, its successors, endorsees or assigns.

     20.  This agreement shall be construed in accordance with the laws of
Florida.  Wherever possible, each provision of this agreement shall be
interpreted in such manner as to be effective and valid under applicable law,
but if any provision of this agreement shall be prohibited by or invalid under
applicable law, such provision shall be ineffective to the extent of such
prohibition or invalidity, without invalidating the remainder of such provision
or the remaining provisions of this agreement.  To the extend permitted by
applicable law, the undersigned hereby waive any provision of law that renders
any provision hereof prohibited or unenforceable in any respect.  Any litigation
arising hereunder or related hereto shall be tried by the state courts for the
county or the federal court of the United States federal district where the
branch office of Bank stated in the preamble hereto is located, whichever is
applicable.

     21.  This Guaranty is a guaranty of payment and performance and not of
collection.  In the event Borrower at any time defaults in the payment of
performance of any of the Guaranteed Obligations as and when same becomes due,
whether by acceleration of maturity of the debt or obligation or otherwise,
Guarantor agrees to pay such debt or perform such obligation immediately.  Upon
failure of Guarantor to do so, Bank may, in its discretion, enforce the
collection of such debt or the performance of such obligation out of Guarantor
by action in any court of competent jurisdiction, or in any other manner
provided by law, the same as if such debt or obligation were the primary and
individual debt or obligation of Guarantor, and without first seeking to
enforce such debt or obligation by action or otherwise against Borrower; or,
Bank may, in its discretion, proceed in any manner provided by law or by
contract for collection of debts against either or both Guarantor and Borrower
the same as if such debts and obligations were primarily and individually the
debt of both Guarantor and Borrower, jointly and severally.

GUARANTOR HEREBY WAIVES RIGHT TO TRIAL BY JURY IN ANY ACTION BROUGHT ON THIS
GUARANTY OR ON ANY MATTER ARISING IN CONNECTION WITH THIS GUARANTY.

     Notwithstanding any language to the contrary contained in this
     Guaranty, Guarantor's obligations under this Guaranty shall
     extend only to Borrower's

Continuing and Unconditional Guaranty
David M.. Veltman - Loan B            -7-
<PAGE>

          liabilities to Bank arising in connection with that certain Note (as
          defined herein), between Bank and Borrower, including any extensions,
          modifications, or amendments thereto. It is the intent of the parties
          hereto that the obligations of Guarantor hereunder shall not extend to
          any future transactions between Bank and Borrower unrelated to the
          loan for which this Guaranty is provided (or any extensions,
          modifications, or amendments thereto), unless specifically set forth
          in such future transaction (i.e., in the form of a separate, written
          guaranty executed by Guarantor in connection with such future
          transaction). Nothing contained herein shall limit in any way,
          however, Guarantor's independent obligation to Bank as a maker or co-
          maker of any separate note.

Dated:  January 2, 2001

WITNESSES:                                 GUARANTOR:

/s/ Kenneth G. Arsenault, Jr               /s/ David M. Veltman
-----------------------------              -----------------------------
                                           David M. Veltman
/s/ Deborah J. Davis
-----------------------------              Taxpayer ID# ###-##-####
                                                        ----------------
STATE OF Florida
         -------------

COUNTY OF Pinellas
          ------------

          The foregoing instrument was acknowledged before me this 2nd day of
January, 2001, by David M. Veltman, who is personally known to me NA
                                                                 --------------
----------------------------- as identification.

                                  /s/ Deborah J. Davis
                                  ----------------------------------------------
                                  Signature of Person Taking Acknowledgment

                                  ______________________________________________
                                  Name of Acknowledger Typed, Printed or Stamped
(NOTARY SEAL)
                                  Notary Public, State of ______________________

                                  ______________________________________________
                                  Notarial Serial Number

                                                  (seal) Deborah J Davis
                                                         My Commission CC953949
                                                         Expires July 09, 2004

Continuing and Unconditional Guaranty
David M. Veltman - Loan B             -8-

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