Document:

Exhibit 10.2

    THIS SECURITY HAS NOT BEEN  REGISTERED  UNDER THE  SECURITIES ACT OF 1933 OR
APPLICABLE  STATE  SECURITIES  LAWS,  NOR  THE  SECURITIES  LAWS  OF  ANY  OTHER
JURISDICTION.  IT MAY NOT BE SOLD,  OFFERED FOR SALE, PLEDGED OR HYPOTHECATED IN
THE ABSENCE OF AN EFFECTIVE  REGISTRATION  STATEMENT UNDER THOSE SECURITIES LAWS
OR AN OPINION OF COUNSEL, SATISFACTORY TO THE COMPANY, THAT SUCH REGISTRATION IS
NOT REQUIRED.

                                   CBCOM, INC.

Convertible  Promissory  Note
Due  April  24,  2001

                              Date: April 24, 2000

76,000.00 plus additional loaned funds

     CBCOM, INC., (the "Company'",  a Delaware corporation,  for value received,
hereby promises to pay to Max Sun ("Lender"), the amount of the Loaned Funds (as
defined below) unpaid and  outstanding  from time to time,  with interest on the
unpaid  balance of such  principal  amount as described  below.  The full unpaid
principal  amount of the Loaned Funds plus  interest  will be due and payable on
April 24, 2001(the "Maturity Date").  Payment of interest and principal shall be
made in lawful money of the United States of America at the principal  office of
the Lender or at such other  place as the Lender  shall have  designated  to the
Company in writing.  In the event the Maturity Date is not a business day in Los
Angeles, California, payment shall be made on the next succeeding business day.

     1.     Loaned  Funds.   Lender  has  extended credit to the Company, and is
            -------------
expected  to continue to extend  credit to the Company  ("Loan"),  which Loan is
evidenced by this Note.  The principal  amount of the Loan shall include (a) the
initial loan of $76,000.00,  and (b) any other loans or advances  Lender agrees,
in its sole discretion, to make to the Company that are not covered by any other
agreement between the Company and Lender.  Each month that Lender makes advances
or loans to the Company, the Company shall enter the amount of those advances or
loans at  Exhibit  A of this  Note,  and  shall  have  Lender  acknowledge  that
installment on that exhibit.  The aggregate of unpaid loans and advances  listed
on Exhibit A from time to time shall be referred to as "Loaned Funds."

     2.      Interest.  This  Note  shall  bear  interest  at  the rate of seven
            ---------
percent  (7%)  per  annum  on the  unpaid  principal  balance  of  Loaned  Funds
outstanding  from time to time.  Interest  will commence on any  installment  of
Loaned Funds from the date set forth in Exhibit A, and continue through the date
on which such unpaid principal  balance is repaid in frill.  Throughout the term
of this Note,  interest  shall be  calculated on the basis of a 365-day year and
shall be computed for the actual number of days in the period for which interest
is charged.

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<PAGE>

     3.     Conversion.
            ----------

          3.1     Conversion  Rights.  The  unpaid principal amount of this Note
                  ------------------
may be converted into shares of the Company's  Common Stock,  at the election of
the Lender, at any time prior to the close of business on the business day prior
to the Maturity  Date,  at the  conversion  price of $1.00 per share,  as may be
adjusted in  accordance  with section 4 hereof  (such  conversion  price,  as so
adjusted and in effect at any time, herein called the "Conversion Price"),  into
the number of fully paid and nonassessable  shares of the Company's Common Stock
determined by dividing the principal amount to be so converted by the Conversion
Price in effect at the time of such  conversion.  If the Lender converts some or
all of this Note from time to time, he shall be entitled to receive the interest
accrued to the  conversion  date on that portion of this Note so  converted,  in
cash or in stock at the Company's option.

          3.2     Notice  of Conversion; New Note. This Note may be converted in
                  -------------------------------
full or in part by the Lender  prior to the  Maturity  Date by surrender of this
Note with the  notice of  conversion  annexed  hereto  duly  executed  by Lender
(specifying  the portion of the principal  amount thereof to be converted in the
case of a partial  conversion)  to the Company.  Upon any partial  conversion of
this Note, the Company will make the appropriate  entry  evidencing such partial
conversion  at Exhibit  A, and the amount of  principal  and  interest  (if any)
represented by such conversion shall be reduced from the then-outstanding amount
of  Loaned  Funds.  Each  conversion  shall  be  deemed  to have  been  effected
immediately  prior to the close of  business  on the date on which this Note and
notice of conversion shall have been so surrendered to the Company.

          3.3     Delivery of Stock Certificates; Fractional Shares. As promptly
                  -------------------------------------------------
as practicable  after the conversion of this Note in full or in part, and in any
event  within 30 days  thereafter,  the  Company at its  expense  will issue and
deliver  to the  Lender a  certificate  or  certificates  for the number of full
shares of Common  Stock  issuable  upon such  conversion,  plus,  in lieu of any
fractional share to which the Lender would otherwise be entitled,  cash equal to
such fraction of the Conversion Price.

     4.     Adjustment  of  Conversion  Price.
            ---------------------------------

          4.1     Adjustments  for  Stock  Splits. etc. In the event the Company
                  ------------------------------------
shall at any time undergo a stock split,  stock dividend or other combination or
subdivision that does not involve payment of consideration for such shares,  the
Conversion  Price  in  effect   immediately   prior  to  such  change  shall  be
proportionately  decreased.  In the event the Company  shall at any time combine
its outstanding  Common Stock, the Conversion Price in effect  immediately prior
to such combination  shall be  proportionately  increased.  Any adjustment shall
become  effective at the close of business on the date that such  subdivision or
combination shall become effective.

                                       33
<PAGE>

          4.2     Certificate  as to Adjustments. In the case of each adjustment
                  ------------------------------
or readjustment of the Conversion  Price pursuant to this Section 4, the Company
will promptly  compute such  adjustment or  readjustment  in accordance with the
terms  hereof  and  cause  a  certificate   setting  forth  such  adjustment  or
readjustment  and  showing in detail the facts  upon  which such  adjustment  or
readjustment is based to be delivered to the Lender.

          4.3     Notices.  In  the  event of: (a) any capital reorganization of
                  -------
the Company,  any  reclassification  or recapitalization of the capital stock of
the  Company or any  transfer of all or  substantially  all of the assets of the
Company  to any  other  person or any  consolidation  or  merger  involving  the
Company,  or (b)  any  voluntary  or  involuntary  dissolution,  liquidation  or
winding-up of the Company,  the Company will mail to the Lender at least 10 days
prior to the earliest date specified therein, a notice specifying the date and a
brief description of the event in question.

          4.4     Reservation  of Stock Issuable on Conversion. The Company will
                  --------------------------------------------
at all times prior to the Maturity Date reserve and keep  available,  solely for
issuance and delivery  upon the  conversion  of this Note,  all shares of Common
Stock from time to time issuable upon the conversion of this Note. All shares of
Common Stock issuable upon conversion of this Note shall be duly authorized and,
when issued, validly issued, fully paid and nonassessable.

     5.     Consolidation.  Merger, Sale of Assets, Reorganization, etc. In case
            -----------------------------------------------------------
the Company consolidates with or merges into any other corporation and shall not
be the continuing or surviving  corporation of such consolidation or merger, the
Company, at its option, may redeem the Note or make proper provision so that the
Lender will upon conversion of this Note receive shares of equity  securities of
the surviving  entity as nearly  equivalent as possible in kind and value to the
Common  Stock into which this Note would  otherwise be  convertible  immediately
prior to the date of such  consolidation or merger,  provided that in the second
case the surviving entity shall agree to remain liable under the Note until such
conversion is finished.

     6.     Default.

          6.1     Events  of  Default.  Each of the following events shall be an
                  -------------------
Event of Default  hereunder:  (a)  default in the  payment of any  principal  or
interest on the Note when due,  continued  for 30 days; or (b) if the Company or
any subsidiary  shall make an assignment for the benefit of creditors,  or shall
file a voluntary  petition in bankruptcy,  or shall be adjudicated a bankrupt or
insolvent,  or shall  file  any  petition  or  answer  seeking  for  itself  any
reorganization, arrangement, composition, readjustment, liquidation, dissolution
or similar  relief under any present or future  statue,  law or  regulation,  or
shall  seek or  consent  to or  acquiesce  in the  appointment  of any  trustee,
receiver or liquidator of the Company or of all or any  substantial  part of the
properties  of the Company,  or commence  voluntary or  involuntary  dissolution
proceedings.  If an event of default under the Note occurs and is continuing for
a period of more  than ten days,  the  Lender of the Note may  declare  the Note
immediately due and payable.

                                       34
<PAGE>

          6.2     Remedies  on Default, etc. In case of a default in the payment
                  -------------------------
of any principal of or interest on this Note, the Company will pay to the Lender
thereof the amount owing together with (a) simple interest at the rate per annum
equal  to the  lower  of (x)  15%  and  (y) the  maximum  rate  permitted  under
applicable law on the amounts past due, and (b) such additional  amount as shall
be sufficient to cover the cost and expenses of collection,  including,  without
limitation,  reasonable  attorneys' fees, expenses and disbursements.  No right,
power or remedy  conferred  by this Note upon Lender  shall be  exclusive of any
other right,  power or remedy  referred to herein or therein or now or hereafter
available at law, in equity, by statute or otherwise.

     7.     Application  of Payment. Payments received by Lender pursuant to the
            -----------------------
terms hereof shall be applied in the following manner:  First, to the payment of
all out of pocket  expenses,  charges,  costs and fees incurred by or payable to
Lender and for which the  Company is  obligated  pursuant  to the terms  hereof;
second, to the payment of all interest accrued to the date of such payment;  and
third,  to the payment of  principal.  Notwithstanding  anything to the contrary
contained  herein,  after the occurrence and during the continuation of an Event
of Default,  all  amounts  received by Lender from any party shall be applied in
such order as Lender, in its sole discretion, may elect.

     8.     Amendment  of  Note.  The  provisions of this Note may be amended or
            -------------------
modified  only  with  written  consent  of  the  Company  and  the  Lender.

     9.     Waiver.  The  Company  hereby waives diligence, presentment, protest
            ------
and  demand,  notice  of  protest,  dishonor  and  nonpayment  of this  Note and
expressly agrees that, without in any way affecting the liability of the Company
hereunder,  Lender may extend any  maturity  date or the time for payment of any
installment due hereunder,  accept additional security, release any party liable
hereunder  and release any  security now or hereafter  securing  this Note.  The
Company further waives,  to the fall extent permitted by law, the right to plead
any and all statutes of limitations as a defense to any demand on this Note.

     10.     Attorney's  Fees. If this Note is not paid when due or if any Event
             ----------------
of Default  occurs,  the Company  promises to pay all costs of  enforcement  and
collection,  including, but not limited to, Lender's attorney's fees, whether or
not any action or proceeding is brought to enforce the provisions hereof.

     11.     Severability.  Every  provision  of  this  Note  is  intended to be
             ------------
severable.  In the event any term or provision  hereof is declared by a court of
competent jurisdiction to be illegal or invalid for any reason whatsoever,  such
illegality  or  invalidity  shall  not  affect  the  balance  of the  terms  and
provisions  hereof,   which  terms  and  provisions  shall  remain  binding  and
enforceable.

     12.     Choice  of  Law.  This  Note  shall be governed by and construed in
             ---------------
accordance  with  the  laws  of  the  State  of California. Any and all disputes
arising  under  this  Note  shall be adjudicated in the appropriate court in the

                                       35
<PAGE>

county of Los Angeles,  California,  and all parties submit to  jurisdiction  of
such court for resolution of such disputes.

     13.     Interest  Rate  Limitation.  It  is  the  intent of the Company and
             --------------------------
Lender in the  execution of this Note and all other  instruments  securing  this
Note that the loan evidenced hereby be exempt from the restrictions of the usury
laws of the State of California. In the event that, for any reason, it should be
determined that the California  usury law is applicable to the loan, the Company
and Lender  stipulate and agree that none of the terms and provisions  contained
herein shall ever be construed to create a contract for the use,  forbearance or
detention  of money  requiring  payment of  interest  at a rate in excess of the
maximum  interest  rate  permitted  to be  charged  by the laws of the  State of
California.  In such event,  if the Lender shall collect monies which are deemed
to constitute  interest which would  otherwise  increase the effective  interest
rate on this  Note to a rate in  excess  of the  maximum  rate  permitted  to be
charged  by the  laws of the  State  of  California,  all such  sums  deemed  to
constitute  interest  in excess of such  maximum  rate  shall,  at the option of
Lender,  be credited to the payment of the sums due hereunder or returned to the
Company.

     14.     Entire  Agreement. This Note constitutes the entire agreement among
             -----------------
the parties with regard to the subjects hereof,  and supersedes and replaces any
prior or  contemporaneous  negotiations,  discussions,  contracts or agreements,
written  or oral.  The terms and  conditions  of this  Note  shall  inure to the
benefit of, and be binding upon,  the  respective  successors and assigns of the
parties.  Nothing  in this Note is  intended  to  confer on any third  party any
rights, liabilities or obligations, except as specifically provided.

     IN WITNESS WHEREOF, the Company has executed this Note as of the date first
above written.

                                 CBCOM,  INC.

                                  By  ---------------------
                                  Charles  Lesser,
                                  Chief  Financial  Officer and  Secretary

                                  Address:     16830  Ventura  Blvd,  2th Floor
                                               Encino, California 91436

                                       36
<PAGE>

                              NOTICE OF CONVERSION
                              --------------------

                   [To Be Signed Only Upon Conversion of Note]

TO  CBCOM,  IN.:

     The undersigned,  the Lender of the foregoing Note,  hereby surrenders such
the Note for conversion  into shares of Common Stock CBCOM,  inc., to the extent
of  $          unpaid  principal  amount of such  Note,  and  requests  that the
     ----------
certificates  for  such  shares  be  issued  in the name of,  and  delivered  to
              , whose address is                         .
--------------                  -------------------------
Dated:                    .
     --------------------

---------------------------------------
(Signature  must  conform in all  respects to name of Lender as specified on the
face of the note.)

--------------------------------
(Address)

                                       37
<PAGE>

                                    EXHIBIT A
                            SCHEDULE OF LOANED FUNDS

Date  of  Loan     Amount          Notes
--------------     ------          -----Exhibit 10.3

                            ASSET PURCHASE AGREEMENT

                                 by and between

                             ACC OPERATIONS, INC.

                                       and

                 ADELPHIA BUSINESS SOLUTIONS OPERATIONS, INC.

<PAGE>

                                TABLE OF CONTENTS

                                                                            Page

ARTICLE I PURCHASE AND SALE OF ASSETS........................................1
               1.1     Transfer of Assets....................................1
               1.2     Assumption of Liabilities.............................1
               1.3     Transfer Taxes........................................2

ARTICLE II PURCHASE PRICE AND PAYMENT........................................2
               2.1     Date and Location.....................................2
               2.2     Purchase Price........................................2

ARTICLE III REPRESENTATIONS AND WARRANTIES OF SELLER WITH RESPECT TO
            THE SELLER.......................................................2
               3.1     Organization..........................................2
               3.2     Authorization of Agreement............................3
               3.3     Title to Assets to be Acquired........................3
               3.4     Litigation............................................3
               3.5     Approvals and Consents................................3
               3.6     Financial Statements..................................3
               3.7     Conduct Since the Dates of the Financial
                       Statements............................................4
               3.8     Compliance with Law...................................4
               3.9     Condition of Assets to be Acquired....................4
               3.10    Franchises, Authorizations and Agreements.............4
               3.11    Disclosure............................................4

ARTICLE IV REPRESENTATIONS AND WARRANTIES OF BUYER...........................5
               4.1     Organization..........................................5
               4.2     Authorization of Agreement............................5
               4.3     Litigation............................................5

ARTICLE V CLOSING............................................................6
               5.1     Actions to be Taken by Seller at Closing..............6
               5.2     Actions to be Taken by Buyer at Closing...............6

ARTICLE VI INDEMNIFICATION...................................................6
               6.1     Seller's Indemnity....................................6
               6.2     Buyer's Indemnity.....................................8

ARTICLE VII NOTICE...........................................................8

ARTICLE VIII ARBITRATION.....................................................9

ARTICLE IX LAWS GOVERNING...................................................10

ARTICLE X MISCELLANEOUS.....................................................10
               10.1    Survival of Representations and Warranties...........10
               10.2    Counterparts.........................................10
               10.3    Assignment...........................................10
               10.4    Entire Agreement.....................................11
               10.5    Captions.............................................11
               10.6    Expenses.............................................11

<PAGE>

            THIS AGREEMENT is made as of this 29th day of December, 2000, by
and between ACC OPERATIONS, INC., a Delaware corporation, ("Buyer"), and
ADELPHIA BUSINESS SOLUTIONS OPERATIONS, INC., a Delaware corporation
("Seller").

                                   WITNESSETH:

            WHEREAS, Seller owns and operates local telecommunications
transmission systems in Colorado Springs, Colorado and Denver, Colorado (the
"Acquired Systems");

            WHEREAS, on the date hereof, Seller desires to sell and transfer to
Buyer, and Buyer desires to purchase and acquire from Seller all of the assets
and properties of Seller associated with the operation of the Acquired Systems,
except for the Colorado CPCN License, on the terms and conditions as hereinafter
provided.

            NOW, THEREFORE, in consideration of the foregoing and of the mutual
representations, warranties, covenants and promises contained herein, and
intending to be legally bound hereby, the parties hereto represent, warrant,
covenant and agree as follows:

                                   ARTICLE I

                           PURCHASE AND SALE OF ASSETS

      1.1   Transfer of Assets.

            On the date hereof , Seller shall sell, convey, transfer and assign
to Buyer and Buyer shall purchase and acquire from Seller all of the assets and
properties of Seller of every kind and character, real, personal, tangible,
intangible or mixed, used by, or useful to, Seller in connection with, or
associated with the operation of, the Acquired Systems in existence on the date
hereof(the "Assets to be Acquired"), such sale, conveyance, transfer and
assignment to be effective as of December 31, 2000. The Assets to be Acquired
shall not include the Colorado CPCN License, but shall include such franchises
and other authorizations as Buyer and Seller shall mutually agree to be legally
required.

      1.2   Assumption of Liabilities.

            At the Closing (as defined in Section 2.1), Buyer shall assume, by
instruments of assumption reasonably satisfactory to Seller, and discharge as
they become due and payable, the following liabilities and obligations of Seller
and no others: (i) all liabilities and obligations which are in existence at the
time of Closing, including without limitation working capital requirements and
capital lease obligations, as more specifically set forth on Schedule 1.2
annexed hereto and made a part hereof, and (ii) all obligations of the Seller
arising after the Closing under agreements, licenses, permits and other
instruments relating to the Acquired Systems which are included in the Assets to
be Acquired (the "Assumed Liabilities").
<PAGE>

      1.3   Transfer Taxes.

            Seller and Buyer shall share equally any sales or transfer taxes,
recording fees or other similar costs or fees payable in connection with the
transfer of the Assets to be Acquired.

                                   ARTICLE II

                           PURCHASE PRICE AND PAYMENT

      2.1   Date and Location.

            Unless otherwise mutually agreed to by the parties, the closing
shall take place on the date hereof, at such location as Buyer and Seller shall
mutually agree (the "Closing"). The effective date of the sale of the Assets to
be Acquired shall be December 31, 2000.

      2.2   Purchase Price.

            On the date hereof, as consideration for the purchase of the Assets
to be Acquired, Buyer shall pay Twenty-One Million Two Hundred Thousand Dollars
($21,200,000) (the "Purchase Price"), which Purchase Price shall be paid by
Buyer to Seller's lenders for amounts owing by Seller pursuant to that joint
bank credit facility with certain subsidiaries of Adelphia Communications
Corporation in which Seller is an unrestricted borrower. Seller and Buyer agree
to obtain a fairness opinion as to the Purchase Price hereunder from a
nationally recognized banking firm ("Investment Bank") and agree to cooperate
reasonably to facilitate the completion of the fairness opinion. Upon delivery
of the fairness opinion, the Purchase Price shall be adjusted in accordance with
the fairness opinion and Seller or Buyer, as the case may be, shall promptly pay
to the other the adjustment, if any, to the Purchase Price under the fairness
opinion. All fees and costs of Investment Bank for delivery of the fairness
opinion shall be the responsibility of Seller.

                                  ARTICLE III

                         REPRESENTATIONS AND WARRANTIES
                      OF SELLER WITH RESPECT TO THE SELLER

            As of the date hereof, Seller represents and warrants as follows:

      3.1   Organization.

            Seller is a corporation, duly incorporated and validly existing
under the laws of the State of Delaware with full power and authority to engage
in its business and operations, to continue such business and operations as
conducted at present, to enter into this Agreement and perform the terms of this
Agreement. Seller is duly qualified to conduct business and is in good standing
in those jurisdictions where the conduct of its business or the nature of its
assets makes such qualification necessary.
<PAGE>

      3.2   Authorization of Agreement.

            Seller has taken all necessary action to authorize and approve this
Agreement, the consummation of the transactions contemplated hereby and the
performance by Seller of all of the terms and conditions hereof on its part to
be performed. The execution and delivery of this Agreement, the consummation of
the transactions contemplated hereby and the fulfillment and compliance with the
terms and conditions hereof do not and will not: (a) violate any provisions of
any judicial or administrative order, award, judgment or decree applicable to
Seller; (b) conflict with, result in a breach of or constitute a default under
the Certificate of Incorporation or Bylaws of Seller or any other agreement or
instrument to which Seller is a party or by which Seller is bound; (c) create or
impose any lien, charge, encumbrance, or restriction upon any of the Assets to
be Acquired in contravention of any agreement or instrument to which Seller is a
party or by which Seller is bound; and (d) create a right in any person to
accelerate payment of the principal of any indebtedness due from Seller nor
increase the amount of any interest over that theretofore payable in respect
thereof. This Agreement has been duly authorized, executed and delivered by
Seller and constitutes a legal, valid and binding obligation of Seller. All of
the approvals and consents required for Seller to consummate the transaction
have been obtained.

      3.3   Title to Assets to be Acquired.

            Seller has good and marketable title to the Assets to be Acquired,
and Seller has full power, authority and the absolute right to transfer the
Assets to be Acquired free and clear of any and all liens, charges, pledges,
encumbrances or restrictions of any nature.

      3.4   Litigation.

            There is no litigation, at law or in equity, nor any proceedings
before any commission or other governmental authority, pending, or to the best
of Seller's knowledge, after due inquiry, threatened against Seller which would
prevent or restrict Seller's right or ability to consummate the transfer of the
Assets to be Acquired as contemplated herein.

      3.5   Approvals and Consents.

            Seller is not a party to or subject to any agreement, license,
permit or other document which, in order to consummate the transactions
contemplated herein, legally or contractually requires the express approval or
written consent of any persons. All of the approvals and consents required for
Buyer to consummate the transactions contemplated hereunder have been obtained.

      3.6   Financial Statements.

            The unaudited balance sheet and the income statement for the
Acquired Systems (collectively, the "Financial Statements"), true, complete and
correct copies of which have been previously delivered by Seller to Buyer,
present fairly the financial position of the Acquired Systems as of the dates
thereof, and the results, of the Acquired Systems' operations and changes in
financial position for the periods then ended.
<PAGE>

      3.7   Conduct Since the Dates of the Financial Statements.

            Since the dates of the Financial Statements, the Acquired Systems
have not, except in the ordinary and usual course of business as conducted in
accordance with past practice or as contemplated to be conducted by this
Agreement: (a) sold, constructed or otherwise disposed of any of its assets; (b)
purchased, constructed or otherwise acquired any property or assets; (c)
consensually incurred any liabilities; or (d) entered into any transaction which
materially and adversely affected its assets.

      3.8   Compliance with Law.

            (a) The Acquired Systems are in compliance in all material respects
with, all applicable Federal, state and local laws, statutes, licensing
requirements, rules and regulations, and judicial or administrative decisions
pertaining to the operation of its business where failure to comply would have
a material adverse effect on its business.

            (b) No material claims are pending or, to the best of Seller's
knowledge, after due inquiry, threatened against the Acquired Systems with
respect to the operation of its business.

      3.9   Condition of Assets to be Acquired.

            The Assets to be Acquired are in good operating condition,
reasonable wear and tear excepted. The Assets to be Acquired are operated and
maintained in a proper manner and are free from any material defects of
workmanship or material in light of its age and the use to which it has been
put.

      3.10  Franchises, Authorizations and Agreements.

            The franchises, authorizations and agreements included in the Assets
to be Acquired are validly existing, legally enforceable obligations of the
parties thereto in accordance with their terms. Seller is not in default in the
performance of any of its material obligations under such franchises,
authorizations and agreements.

      3.11  Disclosure.

            No representation, warranty or covenant by Seller in this Agreement
or in any written statement or certificate furnished by Seller to Buyer pursuant
hereto contains or will contain any untrue statement of a material fact.
<PAGE>

                                   ARTICLE IV

                   REPRESENTATIONS AND WARRANTIES OF BUYER

            To induce Seller to enter into this Agreement, Buyer represents and
warrants, as of the date hereof, as follows:

      4.1   Organization.

            Buyer is a corporation duly organized and validly existing under the
laws of the State of Delaware and is duly qualified and in good standing in
those jurisdictions where the conduct of its business or the nature of its
assets makes such qualification necessary. Buyer has full corporate power and
authority to own and lease its properties and to conduct its business as and
where such properties are now owned or leased and such business is now being
conducted. Buyer has full corporate power and authority to acquire and own the
Assets to be Acquired.

      4.2   Authorization of Agreement.

            The Board of Directors of Buyer have taken all necessary action to
authorize and approve this Agreement, the consummation of the transactions
contemplated hereby and the performance by Buyer of all of the terms and
conditions hereof on its part to be performed. The execution and delivery of
this Agreement, the consummation of the transactions contemplated hereby and the
fulfillment and compliance with the terms and conditions hereof do not and will
not: (a) violate any provisions of any judicial or administrative order, award,
judgment or decree applicable to Buyer, or (b) conflict with any of the
provisions of the Certificate of Incorporation or Bylaws of Buyer, or (c)
conflict with, result in a breach of or constitute a default under any agreement
or instrument to which Buyer is a party or by which it is bound.

            This Agreement has been duly authorized, executed and delivered by
Buyer and constitutes a legal, valid and binding obligation of Buyer.

      4.3   Litigation.

            There is no litigation, at law or in equity, or any proceedings
before any commission or other governmental authority, pending or, to the best
knowledge of Buyer, threatened against Buyer which would impair materially the
ability of Buyer to consummate the transactions contemplated by this Agreement.
There is no suit or action or other proceeding pending before any court or other
governmental agency against Buyer to enjoin the consummation of the transaction
contemplated hereby.
<PAGE>

                                   ARTICLE V

                                     CLOSING

      5.1   Actions to be Taken by Seller at Closing.

            At Closing, Seller shall take all actions required to be taken
hereunder and Seller shall deliver to Buyer:

            (a) a Bill of Sale and Assignment and Assumption Agreement, duly
executed by Seller;

            (b) a Management Agreement between Seller and Buyer, duly executed
by Seller; and

            (c) such other documents and certificates as required to be
delivered hereunder or reasonably requested by Buyer.

      5.2   Actions to be Taken by Buyer at Closing.

            At Closing, Buyer shall take all actions required to be taken
hereunder and shall deliver, or cause to be delivered, to Seller:

            (a) The Purchase Price described in Section 2.2 hereof;

            (b) The Assignment Agreement, duly executed by Buyer;

            (c) The Management Agreement, duly executed by Buyer; and

            (d) Such other documents and certificates required to be delivered
hereunder or reasonably requested by Seller.

                                   ARTICLE VI

                                 INDEMNIFICATION

      6.1   Seller's Indemnity.

            (a)   Seller shall indemnify Buyer and hold Buyer harmless from and
against:

                  (i)   the aggregate dollar amount of any and all debts,
liabilities, damages, losses, costs, expenses or claims owing by, suffered,
incurred or accrued against Buyer as of the close of business on the date hereof
arising out of the business activities of Seller prior to the date hereof;

                  (ii)  any and all damages, expenses and losses suffered, paid
or incurred, or to be suffered, paid or incurred in the future, by Buyer arising
out of any and all inaccurate representations or breaches of covenant and
warranty on the part of Seller herein contained; and
<PAGE>

                  (iii) any and all reasonable costs and expenses of Buyer
related to the foregoing including reasonable attorney's fees in connection with
the prosecution, defense or appeal of any suit or action in connection herewith.

            All of such items described in paragraphs (i), (ii) and (iii) above
are collectively referred to hereinafter as the "Aggregate Net Loss."

            (b)   Whenever it shall come to the attention of Buyer that it has
suffered or incurred, or may suffer or incur, any Aggregate Net Loss, Buyer
shall give prompt written notice to Seller of such anticipated or actual loss,
damage, cost or expense. Seller shall then have the right to defend against any
claims or actions by third parties giving rise to the Aggregate Net Loss to the
fullest extent permitted by law. After Seller has made its defense against such
claims or actions and is unsuccessful in such defense or after Seller elects not
to, or fails to, defend against such claims or actions, Buyer and Seller shall
then attempt to mutually agree upon the amount of Aggregate Net Loss for which
Buyer is to be indemnified.

                  Buyer shall not be entitled to be indemnified by Seller under
this Agreement for the Aggregate Net Loss arising out of any single claim or
aggregate of claims until the amount of such Aggregate Net Loss exceeds Fifty
Thousand Dollars ($50,000). Buyer shall then be entitled to be indemnified by
Seller for any and all Aggregate Net Loss including the initial Fifty Thousand
Dollars ($50,000) in Aggregate Net Loss arising out of any single claim or
aggregate of claims.

            (c)   Should Buyer and Seller be unable to agree as to the amount of
the Aggregate Net Loss for which Buyer is to be indemnified, either Buyer or
Seller may apply to the American Arbitration Association under its Commercial
Arbitration Rules for the appointment of an Arbitrator for an arbitration to
take place in Pittsburgh, Pennsylvania. Buyer and Seller will share equally the
total expense of such arbitration. Such arbitrator shall proceed in accordance
with the Commercial Arbitration Rules of the American Arbitration Association to
determine the Aggregate Net Loss and certify such loss to Buyer and Seller. Such
arbitration and determination shall be final and binding on Buyer and Seller,
judgment may be entered upon such determination and award in any court having
jurisdiction thereof and Buyer and Seller agree that no appeals shall be taken
therefrom. Upon entry of a judgment in favor of Buyer against Seller, Seller
shall make full payment within ten (10) days thereafter. Upon failure of Seller
to make such payment within such ten (10) day period, the amount of the judgment
shall bear interest at the rate of ten percent (10%) per annum simple interest
until paid.

            (d)   Buyer agrees that it will not settle or permit the settlement
of any matter giving rise to any Aggregate Net Loss without the prior written
consent of Seller. Buyer agrees that it will give prompt written notice to
Seller of any claim or action which may give rise to any Aggregate Net Loss and
will permit Seller, at Seller's option and expense, to conduct the defense
against any such claims or actions, and will cooperate with Seller in such
defense in such manner as Seller may reasonably request. Buyer's failure to
comply with the provisions of this paragraph shall terminate Seller's liability
to indemnify and hold Buyer harmless under this Agreement solely with respect to
the matter for which notice should have been given notwithstanding any other
provision hereof.
<PAGE>

            (e)   Buyer's right to assert a claim against Seller for
indemnification pursuant to this Article VI shall survive the Closing and shall
expire:

                  (i)   with respect to all claims other than claims related to
title to the Assets to be Acquired made in Section 3.3 hereof and the nonpayment
of taxes or similar claims pursuant to the Internal Revenue Code or any state,
county, municipal or other local taxing statutes, one hundred eighty (180) days
after the date hereof; and

                  (ii)  with respect to claims relating to the nonpayment of
taxes or other similar claims under the Internal Revenue Code or any state,
county, municipal or other local taxing statutes, upon the expiration of ninety
(90) days following the date on which the running of the statute of limitations
with respect to any such tax shall bar the assessment and collection of such
tax.

            (f)   The provisions of the foregoing Section 6.01(e)(ii) shall not
be construed so as to deprive Buyer of the right to be indemnified and held
harmless with respect to any tax liability assessed within the period provided
pursuant to the appropriate statute of limitations or any extension thereof.

      6.2   Buyer's Indemnity.

            Buyer shall indemnify Seller and hold Seller harmless from and
against:

            (a)   the aggregate dollar amount of any and all debts, liabilities,
damages, losses, costs, expenses or claims owing by, suffered, incurred or
accrued against Seller subsequent to the close of business on the date hereof
arising out of the business activities of Buyer prior to the date hereof;

            (b)   any and all damages, expenses and losses suffered, paid or
incurred, or to be suffered, paid or incurred in the future, by Seller arising
out of any and all inaccurate representations or breaches of covenant and
warranty on the part of Buyer herein contained; and

            (c)   any and all reasonable costs and expenses of Seller related to
the foregoing including reasonable attorney's fees in connection with the
prosecution, defense or appeal of any suit or action in connection herewith.
<PAGE>

                                  ARTICLE VII

                                     NOTICE

            All notices and other communications hereunder shall be in writing
and deemed to have been duly given if: (a) mailed, first class, registered or
certified mail, return receipt requested, postage prepaid; (b) delivered by
courier or overnight courier providing written evidence of receipt for hand
delivery; or (c) transmitted via telecopy:

                  To Seller:

                  Adelphia Business Solutions Operations, Inc.
                  One North Main Street
                  Coudersport, PA 16915
                  Attention: John Glicksman,
                  Vice President & General Counsel

                        With a copy to:

                        Bruce I. Booken, Esquire
                        Buchanan Ingersoll Professional Corporation
                        One Oxford Centre
                        301 Grant Street, 20th Floor
                        Pittsburgh, PA 15219-1410

                  To Buyer:

                  ACC Operations, Inc.
                  One North Main Street
                  Coudersport, PA 16915
                  Attention: Timothy Rigas, Executive Vice President

                        With a copy to:

                        Colin Higgin, Esquire
                        Adelphia Communications Corporation
                        One North Main Street
                        Coudersport, PA 16915

            Any party to this Agreement may change the address of the party to
which all communications and notices may be sent hereunder by addressing notices
of such change in the manner provided.
<PAGE>

                                  ARTICLE VIII

                                   ARBITRATION

            Any controversy or claim arising out of or relating to this
Agreement, or the breach thereof, shall be settled by arbitration in the
Commonwealth of Pennsylvania, in accordance with articles of the American
Arbitration Association for Commercial Arbitration, and judgment upon the award
rendered by the arbitrators may be entered in any court having jurisdiction
therefor.

                                   ARTICLE IX

                                 LAWS GOVERNING

            The construction and interpretation of this Agreement and the rights
of the parties shall be governed by the laws of the Commonwealth of
Pennsylvania, without regard to its conflicts of laws provisions.

                                   ARTICLE X

                                  MISCELLANEOUS

      10.1  Survival of Representations and Warranties.

            Seller and Buyer acknowledge that the representations, warranties,
covenants and agreements of Seller and Buyer contained in this Agreement form an
integral part of the consideration given to Buyer in exchange for the Purchase
Price and to Seller in exchange for the Assets to be Acquired, without which
Buyer would be unwilling to purchase, and Seller would be unwilling to sell, the
Assets to be Acquired. Except as set forth in Article VI hereof regarding
indemnification and notwithstanding any investigation and review made by Buyer
pursuant to this Agreement, Seller and Buyer agree that all of the
representations, warranties, covenants and agreements of Seller and Buyer
contained in this Agreement or in any exhibit, statement, report, certificate or
other document or instrument required to be delivered pursuant to this Agreement
shall survive the making of this Agreement, any investigation or review made by
or on behalf of the parties hereto and the Closing hereunder.

      10.2  Counterparts.

            This Agreement may be executed in one or more counterparts, all of
which taken together shall constitute one instrument.

      10.3  Assignment.

            This Agreement may not be assigned by any party hereto without the
prior written consent of the other parties; provided, however, that Buyer is
entering into this Agreement on behalf of a Delaware limited liability company
to be formed at a later date and to be named "ACC Telecommunications, LLC",
which limited liability company will be indirectly wholly owned and controlled
by Buyer and to which limited liability company Buyer shall assign this
Agreement.
<PAGE>

      10.4  Entire Agreement.

            This Agreement is an integrated document, contains the entire
agreement between the parties, wholly cancels, terminates and supersedes any and
all previous and/or contemporaneous oral agreements, negotiations, commitments
and writings between the parties hereto with respect to such subject matter. No
change, modification, extension, termination, notice of termination, discharge,
abandonment or waiver of this Agreement or any of the provisions hereof, nor any
representation, promise or condition relating to this Agreement, shall be
binding upon the parties hereto unless made in writing and signed by the parties
hereto.

      10.5  Captions.

            The captions of Sections hereof are for convenience only and shall
not control or affect the meaning or construction of any of the provisions of
this Agreement.

      10.6  Expenses.

            Except as otherwise expressly provided herein, Seller and Buyer each
will pay all costs and expenses, including any and all legal and accounting
fees, of its performance and compliance with all agreements and conditions
contained herein on its part to be performed or complied with.

            [REMAINDER OF PAGE INTENTIONALLY LEFT BLANK]

<PAGE>

            IN WITNESS WHEREOF, the parties hereto have caused this Agreement to
be executed by their duly authorized corporate officers on the day and year
first above written.

                                             SELLER:

                                             ADELPHIA BUSINESS SOLUTIONS
                                             OPERATIONS, INC.

                                             By:    /s/ James P. Rigas
                                                    ------------------
                                             Name:  James P. Rigas
                                             Title: President

                                             BUYER:

                                             ACC OPERATIONS, INC.

                                             By:    /s/ Timothy J. Rigas
                                                    --------------------
                                             Name:  Timothy J. Rigas
                                             Title: Chief Financial Officer

<PAGE>

                                  SCHEDULE 1.2
                               ASSUMED LIABILITIES

Liability Assumed                      Amount

Accounts payable                    $2,845,640
Accrued liabilities                    232,763

<PAGE>

Schedule of Similar Agreements

In accordance with Instruction 2 to Regulation SK 601(a), following is a list of
similar agreements to Exhibit 10.3:

Asset Purchase Agreement by and between ACC OPERATIONS, INC. and ADELPHIA
BUSINESS SOLUTIONS OPERATIONS, INC. for the purchase and sale of assets
located in California for a purchase price of $13,000,000

Asset Purchase Agreement by and between ACC OPERATIONS, INC. and ADELPHIA
BUSINESS SOLUTIONS OPERATIONS, INC. for the purchase and sale of assets
located in Ohio for a purchase price of $7,500,000

Asset Purchase Agreement by and between ACC OPERATIONS, INC. and ADELPHIA
BUSINESS SOLUTIONS OF VIRGINIA, LLC for the purchase and sale of assets located
in Virginia for a purchase price of $46,800,000

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00023-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00023-of-00352.parquet"}]]