Document:

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                                                                    Exhibit 10.3

                               WAIVER AND RELEASE

        This Agreement is entered into as of February 28, 2006 by Alan S.
Fishbone ("Holder") in favor of REIT AMERICAS INC., a Maryland Corporation
("BORROWER"), with respect to the following:

        A. Holder and Borrower have entered into that certain Promissory Note
dated as of October 21, 2005 (the "Note"). Capitalized terms used but not
defined in this Agreement shall have the meanings given them in the Note.

        B. Holder desires to have an early termination of the Note.

        C. Subject to the terms and conditions set forth herein, Borrower is
willing to accommodate the Holder's desire for an early termination.

        NOW, THEREFORE, in consideration of the foregoing and the terms and
conditions hereof, the parties hereto agree as follows:

        1. EARLY TERMINATION. On the terms and subject to the conditions of this
Agreement, Borrower hereby agrees to an early termination of the Note..

        2. SATISFACTION OF NOTE. Holder acknowledges, that upon receipt of
payment of the sum of $50,000 from Borrower, full payment of the indebtedness
and satisfaction of the Note has occurred. Holder further consents to Borrower
being able to rely on the satisfaction set forth herein.

        3. RELEASE. Holder hereby remises, releases, and forever discharges the
Borrower and Dawson James Securities, Inc, their affiliates, subsidiaries,
officers, directors, employees and agents of and from all, and all manner of,
actions, causes of action, suits, proceedings, debts, dues, contracts,
judgments, damages, claims, and demands whatsoever in law or equity, which the
Holder ever had, now has, or which its successors or assigns, hereafter can,
shall, or may have for or by reason of any matter, cause, or thing whatsoever,
arising from the Holder's participation in the Private Placement Offering of the
Borrower dated October 21, 2005 (the "Private Placement Offering"), the Note,
the Registration Rights Agreement, the Subscription Agreement and the Warrant
(collectively referred to as the "Transaction Documents") and any other
documents arising from the foregoing private placement transaction.

        4. WAIVER. Holder hereby waives all rights of any kind arising from the
Private Placement Offering, including but not limited to any and all obligations
of the Borrower under any of the Transaction Documents, and Holder hereby
acknowledges that all such Transaction Documents are hereby canceled in full and
shall be considered void ab initio with neither party having any liability or
obligation hereafter to the other.

                                       1
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        5. MISCELLANEOUS.

                (a) COUNTERPARTS. This Agreement may be executed in one or more
counterparts, each of which shall be deemed an original but all of which
together shall constitute one and the same instrument.

                (b) GOVERNING LAW. This Agreement shall be governed by and
construed according to the laws of the State of Florida. Each party hereby
consents that any and all actions or controversies arising under this Agreement
shall be subject to the exclusive jurisdiction of the state and federal courts
located in Palm Beach County, Florida.

                (c) JURY TRIAL WAIVER. EACH OF THE PARTIES HERETO WAIVES ITS
RIGHT TO A TRIAL BY JURY IN ANY ACTION TO ENFORCE, DEFEND, INTERPRET OR
OTHERWISE CONCERNING THIS AGREEMENT.

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

                                        HOLDER

                                        By  /S/ ALAN S. FISHBONE
                                            -------------------------------
                                        Name: ALAN S. FISHBONE
                                             ------------------------------
                                        Title
                                             ------------------------------

                                        REIT AMERICAS, INC., a Maryland
                                        corporation

                                        By  /S/ JOAN M. ZELLER
                                             ------------------------------
                                        Name: JOAN M. ZELLER
                                             ------------------------------
                                        Title:CORPORATE SECRETARY
                                             ------------------------------<PAGE>

                                                                    Exhibit 10.4

                        TERMINATION AGREEMENT AND RELEASE

         This Termination Agreement dated March ___, 2006, by and between REIT
Americas, Inc., a Maryland corporation (the "REIT") and Mortgage Capital
Corporation of America, LLC, an Arizona limited liability company ("MCCA") and
all of the undersigned assignees of MCCA as set forth in Schedule 1 hereof and
on the signature page hereto.

         WHEREAS, the parties entered into a Letter of Intent dated September
30, 2002 ("LOI") whereby MMCA was going to provide REIT with real estate assets
which were to have a value of not less than $41,000,000 and an expected Closing
Date of November 2002; and

         WHEREAS, in exchange for the contribution of real estate assets, the
REIT was to deliver 800,000 shares to MCCA or its assignees (the "Shares"); and

         WHEREAS, the REIT never delivered the Shares but did record the Shares
on its internal books to the assignees of MCCA as set forth on Schedule 1 hereof
(the "Assignees"); and

         WHEREAS, in order to amicably resolve any issues and avoid future
disputes, the undersigned have all agreed to waive any and claims they may have
against each other and acknowledge the Shares shall be canceled as void ab
initio on the books and records of the Company .

         NOW, THEREFORE, for good and valuable good consideration:

         1.       TERMINATION OF LOI. All parties acknowledge that the LOI is
                  terminated and of no further force and effect and that no
                  party shall have any obligation to any other party arising
                  from any term, covenant or agreement of the LOI.

         2.       CANCELLATION OF SHARES. Each party hereby acknowledges that
                  MCCA and each of its Assignees never had any right or claim to
                  the Shares and hereby waive any and all claims each had or may
                  have, now or in the future, against the Shares. Each party
                  hereby acknowledges and agrees that the Shares will be
                  canceled of record and returned to the treasury of the REIT.

         3.       RELEASE OF REIT. Each of MCCA and the Assignees and their
                  respective heirs, successors, assigns, shareholders,
                  directors, officers, employees, agents, and any corporations,
                  partnerships or other entities owned or controlled by them and
                  any parents, subsidiaries, and affiliated companies, hereby
                  forever releases and discharges the REIT, its successors or
                  assigns, shareholders, directors, officers, employees, agents,
                  and any corporations, partnerships or other entities owned or
                  controlled by it and any of its subsidiaries and affiliated
                  companies from any and all claims each has or may have against
                  REIT now or in the future arising out of the LOI or the
                  cancellation of the Shares. Each of MCCA and the Assignees
                  specifically acknowledge that this release extinguishes all
                  claims against REIT, whether past or present, known or
                  unknown, foreseen or unforeseen, without regard to whether
                  such claims are liquidated or contingent,

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                  accrued or unaccrued, or whether based upon contract, equity,
                  tort, statutory violation, rule of the court, including claims
                  that were or could or might have been asserted by MCCA or the
                  Assignees with respect to the LOI or the Shares.

         4.       RELEASE OF MCCA. REIT hereby releases and discharges MCCA,
                  their heirs, successors or assigns, from any and all claims
                  REIT has or may have against MCCA arising from the LOI. REIT
                  specifically acknowledges that this release extinguishes all
                  claims against MCCA, whether past or present, known or
                  unknown, foreseen or unforeseen, without regard to whether
                  such claims are liquidated or contingent, accrued or
                  unaccrued, or whether based upon contract, equity, tort,
                  statutory violation, rule of the court, including claims that
                  were or could or might have been asserted by REIT with respect
                  to the LOI.

         5.       NO ADMISSION OF LIABILITY. By entering into this Agreement,
                  the Parties to this Agreement do not admit to any liability to
                  the other Party, and each denies liability. This Agreement
                  does not constitute any admission by either Party of any
                  liability on the merits of any claim or defense which has been
                  or could have been asserted by the other Party.

         6.       EACH PARTY TO BEAR ITS OWN COSTS. Each Party shall bear its
                  own costs and attorneys' fees relative to the settlement of
                  this matter.

         7.       ENTIRE AGREEMENT. This Agreement contains the entire agreement
                  of the Parties on the matters covered. Any agreement,
                  statement, or promise made by any Party, or by any employee,
                  officer, or agent of any Party, as to the matters covered in
                  the Agreement which is not in writing and signed by both
                  Parties shall not be binding.

         8.       COUNTERPARTS. This Agreement may be executed in one or more
                  counterparts which together will compromise a binding contract
                  even though all signatures may not appear on the same
                  document. Facsimile signatures shall be deemed as legally
                  binding as original signatures for all purposes.

         9.       CHOICE OF LAW. This Agreement is entered into the State of
                  Florida and shall be construed and enforced in accordance with
                  the Laws of the State of Florida and all actions arising
                  hereunder shall be brought in the venue of Palm Beach County,
                  Florida, and each party hereto hereby consents to jurisdiction
                  in Palm Beach County, Florida.

         10.      SEVERABILITY OF PROVISIONS. Any provisions of this Agreement
                  which is prohibited or unenforceable in any jurisdiction
                  shall, as to such jurisdiction, be ineffective to the extent
                  of such provision or unenforceability without invalidating the
                  remainder provisions of this Agreement.

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         REIT AMERICAS, INC

         By:_______________________
         James Sellers

         Mortgage Capital Corporation of America, LLC

         By:
            -----------------------------
         Greg Harrington, Managing Member

         ----------------------
         Greg Harrington

         ----------------------
         Chad M. Harrington

         ----------------------
         Mary D. Cozza

         ----------------------
         Sheila P. Dunning

         ----------------------
         Scott Gulbranson

         ----------------------
         Robert K. Rehm

         ----------------------
         Ronald Tanet

<PAGE>

         Razor Realty Consultants, LLC

         By:
            --------------------
         Greg Harrington, Manager

         Penthouse Franchise Group, LLC

         By:
            ---------------------
         Greg Harrington, Manager

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