Document:

EXHIBIT 10.4

         THIS  PROMISSORY  NOTE AND THE SECURITIES  OBTAINABLE  UPON  CONVERSION
         HEREOF HAVE NOT BEEN  REGISTERED  UNDER THE  SECURITIES ACT OF 1933, AS
         AMENDED  ("THE  ACT"),  OR  THE  SECURITIES  LAWS  OF  ANY  STATE.  THE
         SECURITIES  MAY NOT BE  TRANSFERRED  EXCEPT  PURSUANT  TO AN  EFFECTIVE
         REGISTRATION  STATEMENT UNDER SUCH ACT AND APPLICABLE  STATE SECURITIES
         LAWS OR  PURSUANT  TO AN  APPLICABLE  EXEMPTION  FROM THE  REGISTRATION
         REQUIREMENTS OF SUCH ACT AND SUCH LAWS.

                       SENIOR CONVERTIBLE PROMISSORY NOTE

U.S. $250,000                                                     August 5, 2003

         FOR  VALUE  RECEIVED,   Skyframes,   Inc.,  a  Utah   corporation  (the
"Company"), hereby promises to pay to the order of Ocean Drive SF Associates LLC
(the  "Lender") the principal  amount of Two Hundred Fifty  Thousand  ($250,000)
Dollars (the "Principal Amount"), together with interest on the Principal Amount
under this senior  convertible  promissory  note (this  "Note") at the per annum
rate of eight (8%) percent  (calculated daily on the basis of a 360-day year and
actual calendar days elapsed). The Principal Amount and accrued interest on this
Note shall  become due and  payable  in one  installment  on August 4, 2004 (the
"Maturity Date").

         Both the Principal  Amount and accrued interest shall be paid in lawful
money of the United  States of America to the Lender at 444  Madison  Ave,  18th
Floor,  New York, NY 10022, or at such other address as the Lender may designate
by notice in writing to the Company, in immediately available funds.

         If any  payment  hereunder  falls  due on a  Saturday,  Sunday or legal
holiday,  it  shall be  payable  on the next  succeeding  business  day and such
additional time shall be included in the computation of interest.

         This  Note is  issued  pursuant  to that  certain  Securities  Purchase
Agreement by and between the Company and the Lender of even date  herewith  (the
"Securities Purchase Agreement").  Notwithstanding any provision to the contrary
contained  herein,   this  Note  is  subject  and  entitled  to  certain  terms,
conditions,  covenants  and  agreements  contained  in the  Securities  Purchase
Agreement. Reference to the Securities Purchase Agreement shall in no way impair
the  absolute  and  unconditional  obligation  of the  Company  to pay  both the
Principal Amount and interest hereon as provided herein.  All capitalized  terms
not defined  herein shall have the meanings  ascribed  thereto in the Securities
Purchase Agreement.

         This Note,  and the shares of the  Company's  common  stock,  $0.10 par
value per share (the "Common  Stock"),  into which this Note in convertible,  is
also referred to in, and entitled to the benefits of, that certain  registration
rights  agreement  between the Company and the Lender of even date herewith (the
"Registration Rights Agreement").

<PAGE>

         1. SENIOR.  The indebtedness  evidenced by this Note and the payment of
the  Principal  Amount and  interest  thereof  shall be Senior  (as  hereinafter
defined) to, and have priority in right of payment over, all indebtedness of the
Company.  "Senior"  shall be deemed to mean that, in the event of any default in
the payment of the obligations  represented by this Note or of any  liquidation,
insolvency,  bankruptcy,  reorganization, or similar proceedings relating to the
Company,  all sums  payable  on this  Note,  shall  first be paid in full,  with
interest,  if any, before any payment is made upon any other  indebtedness,  now
outstanding  or  hereinafter  incurred,  and, in any such event,  any payment or
distribution  of any  character  which  shall be made in  respect  of any  other
indebtedness  of the Company,  shall be paid over to the holder of this Note for
application to the payment hereof,  unless and until the obligations  under this
Note (which shall mean the Principal  Amount and other  obligations  arising out
of, premium, if any, interest on, and any costs and expenses payable under, this
Note) shall have been paid and satisfied in full. Notwithstanding the foregoing,
the indebtedness  evidenced by this Note and the payment of the Principal Amount
and interest thereof shall rank pari passu with that certain Senior  Convertible
Promissory  Note dated June 16, 2003  issued in favor of Ocean  Drive  Holdings,
LLC.

         2. CONVERSION.

                  (a) CONVERSION.  At the option of the Holder, all or a portion
of the outstanding Principal Amount,  together with accrued but unpaid interest,
on this Note shall convert into shares of the Company's Common Stock. The number
of shares of Common  Stock to be issued upon such  conversion  shall be equal to
the quotient  obtained by dividing (i) the  Principal  Amount,  plus accrued but
unpaid interest by (ii) 0.50 per share (the "Conversion Price"). Any fraction of
a share of Common Stock resulting from this calculation  shall be rounded upward
to the next whole share. The Company covenants to cause such shares, when issued
pursuant to this Section 2(a), to be fully paid and nonassessable, and free from
all taxes,  liens and charges with respect to the issuance  thereof,  other than
any taxes, liens or charges not caused by the Company.

                  (b)  MECHANICS  AND  EFFECT OF  CONVERSION.  To  exercise  the
conversion  privilege,  the Holder shall  surrender  this Note,  together with a
written conversion notice three (3) days prior to conversion,  to the Company at
its principal office.  This Note or portion thereof shall be deemed to have been
converted  immediately  prior to the close of  business on the date of giving of
such notice and the Holder, or the nominee or nominees of such Holder,  shall be
treated  for all  purposes  as the record  holder of the shares of Common  Stock
deliverable  upon such  conversion  as of the close of business on such date. At
its expense,  the Company will, within 15 days thereafter,  issue and deliver to
such Holder,  at such principal  office,  a certificate or certificates  for the
number of shares to which such Holder is entitled upon such conversion, together
with any other securities and property to which the Holder is entitled upon such
conversion  under the terms of this Note.  Upon  conversion  of this  Note,  the
Company will be forever  released from all of its  obligations  and  liabilities
under this Note with regard to that portion of the principal  amount and accrued
interest being converted including without limitation the obligation to pay such
portion of the principal amount and accrued interest.

         3.  RESERVATION  OF  SHARES.  The  Company  shall  at  all  times  have
authorized and reserved for issuance a sufficient number of shares of its Common
Stock to provide for the full conversion of this Note.

<PAGE>

         4. CHANGE OF CONTROL.  Subject to Section 9(c) hereto,  in the event of
(i)  any   transaction  or  series  of  related   transactions   (including  any
reorganization,  merger or consolidation) that results in the transfer of 50% or
more of the outstanding  voting power of the Company,  and (ii) a sale of all or
substantially  all of the assets of the  Company to  another  person,  this Note
shall be  automatically  due and  payable.  The Company will give the Lender not
less than ten (10) business days prior written  notice of the  occurrence of any
events referred to in this Section 4.

         5. CERTAIN  ADJUSTMENTS.  The number and class or series of shares into
which this Note may be converted  under Section 2 shall be subject to adjustment
in accordance with the following provisions:

                  (a) ADJUSTMENT FOR  REORGANIZATION  OR  RECAPITALIZATION.  If,
while this Note remains outstanding and has not been converted, there shall be a
reorganization or recapitalization (other than a combination,  reclassification,
exchange or subdivision of shares otherwise provided for herein),  all necessary
or  appropriate  lawful  provisions  shall  be  made so that  the  Lender  shall
thereafter  be entitled to receive upon  conversion  of this Note,  the greatest
number of shares of stock or other  securities  or property that a holder of the
class of  securities  deliverable  upon  conversion of this Note would have been
entitled to receive in such  reorganization or recapitalization if this Note had
been converted immediately prior to such reorganization or recapitalization, all
subject to further  adjustment  as provided in this  Section 5. If the per share
consideration  payable to the Lender for such class of  securities in connection
with any such transaction is in a form other than cash or marketable securities,
then the value of such  consideration  shall be  determined in good faith by the
Company's Board of Directors.  The foregoing  provisions of this paragraph shall
similarly apply to successive  reorganizations or  recapitalizations  and to the
stock or securities  of any other  corporation  that are at the time  receivable
upon the conversion of this Note. In all events, appropriate adjustment shall be
made in the application of the provisions of this Note (including  adjustment of
the  conversion  price  and  number  of  shares  into  which  this  Note is then
convertible  pursuant to the terms and  conditions of this Note) with respect to
the rights and  interests of the Lender after the  transaction,  to the end that
the  provisions  of this Note shall be applicable  after that event,  as near as
reasonably  may be, in relation to any shares or other  property  deliverable or
issuable after such reorganization or  recapitalization  upon conversion of this
Note.

                  (b)  ADJUSTMENTS  FOR SPLIT,  SUBDIVISION  OR  COMBINATION  OF
SHARES.  If the  Company  at any time while this Note  remains  outstanding  and
unconverted,  shall split or subdivide any class of  securities  into which this
Note may be converted  into a different  number of securities of the same class,
the  number  of shares  of such  class  issuable  upon  conversion  of this Note
immediately  prior  to  such  split  or  subdivision  shall  be  proportionately
increased  and the  conversion  price  for  such  class of  securities  shall be
proportionately  decreased.  If the Company at any time while this Note,  or any
portion hereof,  remains  outstanding and unconverted shall combine any class of
securities  into which this Note may be  converted,  into a different  number of
securities of the same class,  the number of shares of such class  issuable upon
conversion  of  this  Note  immediately  prior  to  such  combination  shall  be
proportionately  decreased and the conversion price for such class of securities
shall be proportionately increased.

<PAGE>

                  (c) ADJUSTMENTS FOR DIVIDENDS IN STOCK OR OTHER  SECURITIES OR
PROPERTY.  If, while this Note remains outstanding and unconverted,  the holders
of any class of securities as to which  conversion  rights under this Note exist
at the time shall have  received,  or, on or after the record date fixed for the
determination of eligible  stockholders,  shall have become entitled to receive,
without  payment  therefor,  other or  additional  stock or other  securities or
property  (other than cash) of the Company by way of dividend,  then and in each
case, this Note shall represent the right to acquire,  in addition to the number
of shares of such class of security receivable upon conversion of this Note, and
without  payment of any additional  consideration  therefor,  the amount of such
other or additional  stock or other  securities or property (other than cash) of
the Company  that such holder would hold on the date of such  conversion  had it
been the holder of record of the class of security receivable upon conversion of
this Note on the date hereof and had thereafter, during the period from the date
hereof to and including the date of such conversion, retained such shares and/or
all other  additional  stock  available by it as  aforesaid  during said period,
giving effect to all adjustments called for during such period by the provisions
of this Section 5.

         6. FURTHER ADJUSTMENTS.  In case at any time or, from time to time, the
Company  shall take any action that affects the class of  securities  into which
this Note may be converted,  other than an action described herein, then, unless
such action  will not have a  materially  adverse  effect upon the rights of the
Lender,  the number of shares of such class of securities (or other  securities)
into which this Note is  convertible  shall be  adjusted in such a manner and at
such time as shall be equitable in the circumstances.

         7.  CERTIFICATE  AS  TO  ADJUSTMENTS.   Upon  the  occurrence  of  each
adjustment  or  readjustment  pursuant to Section 5 or Section 6, the Company at
its sole expense  shall  promptly  compute such  adjustment or  readjustment  in
accordance with the terms hereof and furnish to the Lender a certificate setting
forth such adjustment or readjustment and showing in detail the facts upon which
such adjustment or readjustment  is based.  The Company shall,  upon the written
request at any time of the Lender,  furnish or cause to be furnished to Lender a
like certificate setting forth (i) such adjustments and readjustments,  and (ii)
the number and class of  securities  and the amount,  if any, of other  property
which at the time  would be  received  upon the  conversion  of this Note  under
Section 2.

         8 AFFIRMATIVE  COVENANTS.  The Company covenants and agrees that, while
any amounts under this Note are outstanding, it shall:

                  (a) Do all things necessary to preserve and keep in full force
and effect its corporate existence,  including, without limitation, all licenses
or  similar  qualifications  required  by it to  engage in its  business  in all
jurisdictions  in which it is at the time so engaged;  and continue to engage in
business of the same general  type as conducted as of the date hereof;  and (ii)
continue to conduct its business  substantially as now conducted or as otherwise
permitted hereunder;

                  (c) Pay and discharge promptly when due all taxes, assessments
and governmental charges or levies imposed upon it or upon its income or profits
or in respect of its  property  before the same shall  become  delinquent  or in

<PAGE>

default, which, if unpaid, might reasonably be expected to give rise to liens or
charges upon such  properties or any part  thereof,  unless,  in each case,  the
validity  or amount  thereof is being  contested  in good  faith by  appropriate
proceedings  and the Company  has  maintained  adequate  reserves  with  respect
thereto in accordance with GAAP;

                  (d) Comply in all material  respects  with all federal,  state
and local laws and regulations,  orders, judgments, decrees, injunctions, rules,
regulations, permits, licenses, authorizations and requirements applicable to it
(collectively,   "Requirements")  of  all  governmental   bodies,   departments,
commissions,  boards,  companies or associations insuring the premises,  courts,
authorities, officials or officers which are applicable to the Company or any of
its properties,  except where the failure to so comply would not have a material
effect on the Company or any of its properties;  PROVIDED, HOWEVER, that nothing
provided  herein shall prevent the Company from  contesting  the validity or the
application of any Requirements;

                  (e) Keep proper  records and books of account  with respect to
its  business  activities,  in which  proper  entries,  reflecting  all of their
financial transactions, are made in accordance with GAAP; and

                  (f) Notify  the  Lender in  writing,  promptly  upon  learning
thereof, of any litigation or administrative  proceeding commenced or threatened
against the Company which involve a claim in excess of $50,000.

         9. NEGATIVE COVENANTS.  The Company covenants and agrees that while any
amount of this Note is outstanding it will not directly or indirectly:

                  (a) Enter into any bank or other  non-trade  indebtedness  for
borrowed  money  in  excess  of  $10,000,  in a  single  transaction  or in  the
aggregate, without the prior written consent of the Lender, provided that in all
cases such indebtedness is junior to the indebtedness evidenced by the Note;

                  (b)  Guarantee,  assume or otherwise  become  responsible  for
(directly or indirectly)  the  indebtedness,  performance,  obligations,  of any
person,  or the agreement by the Company or any of its subsidiaries to do any of
the foregoing, without the prior written consent of the Lender;

                  (c) Declare or pay, directly and indirectly,  any dividends or
make any distributions,  whether in cash, property,  securities or a combination
thereof,  with  respect to (whether by reduction  of capital or  otherwise)  any
shares of its capital stock (including  without  limitation any preferred stock)
or directly or  indirectly  redeem,  purchase,  retire or otherwise  acquire for
value any shares of any class of its  capital  stock or set aside any amount for
any such purpose;

                  (d) Consolidate with or merge into any other person,  or sell,
lease, transfer or assign to any persons or otherwise dispose of (whether in one
transaction or a related series of  transactions) 1% or more of its consolidated

<PAGE>

properties  or assets  (whether  now  owned or  hereafter  acquired),  or permit
another person to merge into it;

                  (e) Own, purchase or acquire any stock, obligations, assets or
securities of, or any interest in, or make any capital  contribution  or loan or
advance of money,  credit or property  to, any other  person,  or make any other
investments,  except that the Company may own,  purchase or acquire (i) existing
subsidiaries   or   subsidiaries   formed  for  the  purposes  of   facilitating
acquisitions  or  carrying  out  the  ordinary  business  of the  Company;  (ii)
certificates  of deposits of any commercial  banks  registered to do business in
any  state of the  United  States  having  capital  and  surplus  in  excess  of
$50,000,000;  (iii) readily marketable,  direct obligations of the United States
government  or any agency  thereof which are backed by the full faith and credit
of the United States; and (iv) investments in prime commercial paper;  PROVIDED,
HOWEVER,  that in each  case  mentioned  in  (ii),  (iii)  or (iv)  above,  such
obligations  shall  mature  not more than 180 days from the date of  acquisition
thereof; and

                  (f) Sell, transfer, discount or otherwise dispose of any claim
or  debt  owing  to it,  including,  without  limitation,  any  notes,  accounts
receivable  or  other  rights  to  receive   payment,   except  for   reasonable
consideration and in the ordinary course of business.

         10. EVENTS OF DEFAULT.  The entire unpaid  Principal  Amount under this
Note and the interest due thereon shall forthwith become and be due and payable,
without presentment,  demand,  protest or other notice of any kind, all of which
are hereby expressly  waived, if any one or more of the following events (herein
called "Events of Default")  shall have occurred (for any reason  whatsoever and
whether such  happening  shall be voluntary or  involuntary  or come about or be
effected by operation of law or pursuant to or in compliance  with any judgment,
decree  or  order  of  any  court  or  any  order,  rule  or  regulation  of any
administrative  or  governmental  body)  and be  continuing  at the time of such
notice,  except to the extent contemplated by the opening paragraph hereof, that
is to say:

                  (a)  the  Company  shall  (i)  fail to pay  any  amounts  owed
hereunder  as  required  under  the  terms of this Note or (ii) have an event of
default occur and be continuing  under  indebtedness  of the Company (other than
this  Notes)  such that the  holders  of such  indebtedness  have  declared  the
outstanding principal and accrued interest to be immediately due and payable;

                  (b) if the Company shall:

                           (i) admit in writing its  inability  to pay its debts
generally as they become due;

                           (ii) file a petition in  bankruptcy  or a petition to
take advantage of any insolvency act;

                           (iii)  make  an   assignment   for  the   benefit  of
creditors;

                           (iv) consent to the  appointment of a receiver of the
whole or any substantial part of its assets;

<PAGE>

                           (v) on a petition in bankruptcy  filed against it, be
adjudicated a bankrupt; or

                           (vi) file a petition or answer seeking reorganization
or arrangement under the Federal  bankruptcy laws or any other applicable law or
statute of the United  States of America  or any State,  district  or  territory
thereof;

                  (d) if a court of competent jurisdiction shall enter an order,
judgment,  or decree appointing,  without the consent of the Company, a receiver
of the  whole or any  substantial  part of  Company's  assets,  and such  order,
judgment  or decree  shall not be vacated or set aside or stayed  within 90 days
from the date of entry thereof;

                  (e) if, under the  provisions  of any other law for the relief
or aid of debtors,  any court of competent  jurisdiction shall assume custody or
control  of the  whole or any  substantial  part of  Company's  assets  and such
custody or control  shall not be  terminated  or stayed  within 90 days from the
date of assumption of such custody or control; or

                  (f) the  Company  shall  default  in the  performance  of,  or
violate any  representation  or warranty  contained in the  Securities  Purchase
Agreement  and the  Registration  Rights  Agreement or in any written  statement
pursuant thereto or hereto,  report,  financial statement or certificate made or
delivered  to the  Lender by the  Company  shall be untrue or  incorrect  in any
material respect, as of the date when made or deemed made; or

         11.  REMEDIES.  In  case  any  one or more  of the  Events  of  Default
specified in Section 10 hereof shall have occurred and be continuing, the Lender
may proceed to protect and enforce its rights either by suit in equity and/or by
action at law, whether for the specific performance of any covenant or agreement
contained  in this Note or in aid of the  exercise of any power  granted in this
Note, or the Lender may proceed to enforce the payment of all sums due upon this
Note or to enforce any other legal or equitable right of the Lender.

         12.  AMENDMENTS  AND WAIVERS.  Any term of this Note may be amended and
the observance of any term of this Note may be waived (either  generally or in a
particular instance and either  retroactively or prospectively) with the written
consent of the Company and the Lender.

         13. NOTICES. All notices, requests,  consents, and other communications
under this Note shall be in writing and shall be deemed  delivered (i) three (3)
business days after being sent by registered or certified  mail,  return receipt
requested,  postage  prepaid or (ii) one (1) business day after being sent via a
reputable  nationwide  overnight courier service  guaranteeing next business day
delivery, in each case to the intended recipient as set forth below:

                  If to the Company:

                  Skyframes, Inc.
                  555 Anton Boulevard, Suite 1200
                  Costa Mesa, California 92626
                  Attention: James W. France
                  Facsimile:

<PAGE>

                  With a copy to:
                  The Law Office of Gary C. Wykidal
                  245 Fischer Avenue, Suite A1
                  Costa Mesa, CA 92626
                  Telecopier No.: (714) 751-5428
                  Attention: Gary Wykidal, Esq.

                  If to the Lender:

                  Ocean Drive Holdings LLC
                  444 Madison Avenue, 18th Floor
                  New York, NY 10022
                  Attention: Daniel Myers
                  Facsimile: (212) 202-4022

                  With a copy to:
                  Littman Krooks LLP
                  655 Third Avenue
                  New York, NY 10017
                  Attention: Mitchell C. Littman, Esq.
                  Facsimile: (212) 490-2990

                  (ii) Any party may give any notice, request,  consent or other
communication  under  this  Note  using  any  other  means  (including,  without
limitation,  personal delivery, messenger service, telecopy, first class mail or
electronic mail), but no such notice,  request,  consent or other  communication
shall be deemed to have been duly given unless and until it is actually received
by the party for whom it is intended.  Any party may change the address to which
notices,  requests,  consents  or  other  communications  hereunder  are  to  be
delivered  by giving  the other  parties  notice in the manner set forth in this
Section.

         14. CONFLICTING AGREEMENTS. In the event of any inconsistencies between
the terms of this Note and the terms of any other  document  related to the loan
evidenced by this Note, the terms of this Note shall prevail.

         15.  SEVERABILITY.  The unenforceability or invalidity of any provision
or provisions of this Note as to any persons or  circumstances  shall not render
that  provision  or those  provisions  unenforceable  or invalid as to any other
provisions or circumstances,  and all provisions  hereof, in all other respects,
shall remain valid and enforceable.

         16.  GOVERNING LAW. This Note shall be governed by and construed  under
the laws of the State of New York,  without  giving effect to the  principles of
conflicts  of laws.  The  Company  (1)  agrees  that any legal  suit,  action or
proceeding  arising  out of or relating to this  Agreement  shall be  instituted
exclusively  in New York  State  Supreme  Court,  County of New York,  or in the
United States  District Court for the Southern  District of New York, (2) waives
any objection to which the Company may have now or hereafter to the venue of any
such  suit,  action  or  proceeding,   and  (3)  irrevocably   consents  to  the
jurisdiction  of the New York State Supreme  Court,  County of New York, and the

<PAGE>

United States District Court for the Southern  District of New York, in any such
suit, action or proceeding. The Company further agrees to accept and acknowledge
service of any and all process  which may be served in any such suit,  action or
proceeding in the New York Supreme  Court,  County of New York, or in the United
States  District  Court for the  Southern  District  of New York and agrees that
service of process upon the Company  mailed by certified  mail to the  Company's
address shall be deemed in every respect  effective  service of process upon the
Company,  in any such suit,  action or  proceeding.  THE PARTIES HERETO AGREE TO
WAIVE  THEIR  RESPECTIVE  RIGHTS TO A JURY TRIAL OF ANY CLAIM OR CAUSE OF ACTION
BASED  UPON OR  ARISING  OUT OF THIS  AGREEMENT  OR ANY  DOCUMENT  OR  AGREEMENT
CONTEMPLATED HEREBY.

         17.  WAIVERS.  The  nonexercise  by either  party of any of its  rights
hereunder in any  particular  instance  shall not constitute a waiver thereof in
that or any subsequent instance.

         18.  LOST   DOCUMENTS.   Upon   receipt  by  the  Company  of  evidence
satisfactory to it of the loss, theft, destruction or mutilation of this Note or
any Note exchanged for it, and (in the case of loss,  theft or  destruction)  of
indemnity  satisfactory  to it,  and upon  reimbursement  to the  Company of all
reasonable expenses  incidental thereto,  and upon surrender and cancellation of
such Note, if mutilated,  the Company will make and deliver in lieu of such Note
a new  Note of like  tenor  and  unpaid  principal  amount  and  dated as of the
original date of this Note.

                            [Signature Page Follows]

         IN WITNESS WHEREOF,  the Company has caused its duly authorized officer
to execute this Note as of the date first written above.

                       SKYFRAMES, INC.

                       By _______________________________
                          Name: James W. France
                          Title: CEO and President

Acknowledged and Accepted:

OCEAN DRIVE SF ASSOCIATES LLC

By ___________________________________
   Name:
   Title:EXHIBIT 10.5

                                 SKYFRAMES, INC.

                          REGISTRATION RIGHTS AGREEMENT

         This  REGISTRATION  RIGHTS  AGREEMENT  (the  "Agreement"),  dated as of
August 5, 2003, is made by and between Skyframes,  Inc., a Utah corporation (the
"Company"),  and Ocean Drive SF  Associates,  LLC, a New York limited  liability
company (the "Investor").

         WHEREAS,  in connection with that certain Securities Purchase Agreement
by and  between  the  Company  and the  Investor  of  even  date  herewith  (the
"Securities Purchase  Agreement"),  the Company desires to sell to the Investor,
and the  Investor  desires  to  purchase  from the  Company,  (a) a  convertible
promissory  note (the  "Note"),  and (b) a warrant (the  "Warrant")  to purchase
250,000  shares of the Company's  common  stock,  $0.10 par value per share (the
"Common  Stock") for an aggregate  purchase  price of Two Hundred Fifty Thousand
($250,000) Dollars; and

         WHEREAS,  to induce the Investors to purchase the Note and the Warrant,
the  Company has agreed to  register  the shares of Common  Stock into which the
Notes are  convertible  and the shares of Common Stock issuable upon exercise of
the Warrant pursuant to the terms of this Agreement;

         NOW, THEREFORE,  the Company and the Investor hereby covenant and agree
as follows: 1. 1. CERTAIN DEFINITIONS.  As used in this Agreement, the following
terms shall have the following respective meanings:

         "Commission" shall mean the Securities and Exchange Commission,  or any
other federal agency at the time administering the Securities Act.

         "Common Stock" shall mean the common stock,  par value $0.10 per share,
of the Company.

         "Eligible Securities" shall mean all Registrable  Securities other than
Excluded Securities.

         "Exchange  Act"  shall mean the  Securities  Exchange  Act of 1934,  as
amended, and the rules and regulations of the Commission thereunder,  all as the
same shall be in effect at the time.

         "Excluded  Securities" shall mean Registrable  Securities that are free
of restriction on resale under the Securities Act (by removal of all restrictive
legends, instructions to transfer agent or otherwise) pursuant to Rule 144(k).

         "Register,"  "registered"  and  "registration"  each  shall  refer to a
registration  effected  by  preparing  and filing a  registration  statement  or
statements or similar  documents in compliance  with the  Securities Act and the

<PAGE>

declaration  or ordering of  effectiveness  of such  registration  statement  or
document by the Commission.

         "Registrable  Securities" shall mean (i) the Common Stock issuable upon
conversion  of the Note,  (ii) the Common stock  issuable  upon  exercise of the
Warrant,  and (iii) any other shares of Common Stock  otherwise  acquired by the
Investor, but excluding any shares of Common Stock satisfying clause (i) or (ii)
above but which shares (x) are  eligible for resale under Rule 144A,  or (y) are
sold by the  Investor  in a  transaction  in which the  Investor's  registration
rights under this Agreement have not been assigned.

         "Securities Act" shall mean the Securities Act of 1933, as amended, and
the rules and regulations of the Commission thereunder, all as the same shall be
in effect at the applicable time.

         "Capitalized terms" used but not defined herein shall have the meanings
set forth in the Securities Purchase Agreement.

         2. AUTOMATIC REGISTRATION

         (a) On or before _______,  2003 (the "Registration  Date"), the Company
shall file with the  Commission  a  Registration  Statement  on Form S-3 or such
other  appropriate  form in accordance  with the  Securities  Act,  covering the
Registrable Securities.

         (b) The Company shall use commercially  reasonable efforts to have such
registration  statement  declared  effective  within ninety (90) days after such
filing, and to maintain the effectiveness and use of such registration statement
for a period  of no less  than the  earlier  of (i) the date on which all of the
Registrable Securities may be resold without restriction pursuant to Rule 144(k)
under  the  Securities  Act,  or (ii) the date on which  all of the  Registrable
Securities have been sold.

         3. PIGGYBACK REGISTRATION.

                  (a) If the Company, at any time during the two (2) year period
commencing  after the date hereof,  proposes to register  any of its  securities
under the Securities Act for sale to the public,  whether for its own account or
for the  account of other  security  holders  or both  (except  with  respect to
registration  statements  on Forms S-4, S-8 and any  successor  forms thereto as
well as registrations that do not permit resales) (a "Piggyback  Registration"),
each such time it will give  written  notice to such  effect to all  holders  of
outstanding  Registrable  Securities  at least  thirty  (30) days  prior to such
filing.  Upon the  written  request of any such  holder  received by the Company
within  thirty  (30) days after the giving of any such  notice by the Company to
register  any of its  Eligible  Securities,  the Company will cause the Eligible
Securities as to which  registration shall have been so requested to be included
in the  securities to be covered by the  registration  statement  proposed to be
filed by the  Company,  all to the extent  required  to permit the sale or other
disposition by the holder of such Eligible Securities so registered.

<PAGE>

                  (b) If the  registration  for which the Company  gives  notice
pursuant  to  Section  3(a)  is  a  registered  public  offering   involving  an
underwriting,  the Company  shall so advise the holders as a part of the written
notice given pursuant to Section (a). In such event, (i) the right of any holder
to include its Registrable Shares in such registration  pursuant to this Section
3 shall be conditioned upon such holder's  participation in such underwriting on
the terms set forth herein and (ii) all holders including  Registrable Shares in
such  registration   shall  enter  into  an  underwriting   agreement  with  the
underwriter or underwriters selected for the underwriting by the Company. If any
holder  who  has  requested   inclusion  of  its  Registrable   Shares  in  such
registration  as provided above  disapproves  of the terms of the  underwriting,
such holder may elect, by written notice to the Company,  to withdraw its shares
from such registration  statement and underwriting.  If the managing underwriter
advises the Company in writing  that in its good faith  determination  marketing
factors  require a limitation  on the number of shares to be  underwritten,  the
shares to be  included  in the  underwriting  shall be  allocated,  FIRST to the
Company,  and  SECOND,  to each of the  holders  requesting  inclusion  of their
Registrable  Securities in such registration  statement;  PROVIDED HOWEVER, that
the, right of the underwriters to exclude including  Registrable Shares from the
registration and underwriting as described above shall be restricted so that (i)
the  number of  Registrable  Shares  included  in any such  registration  is not
reduced below fifty percent  (50%) of the shares  included in the  registration,
from which all Registrable Shares may be excluded;  and (ii) all shares that are
not Registrable Shares and are held by persons who are employees or directors of
the Company (or any subsidiary of the Company) shall first be excluded from such
registration and underwriting before any Registrable Shares are so excluded. The
number  of  shares  that may be  included  in such  registration  statement  and
underwriting  shall be allocated  among all holders  requesting  registration in
proportion,  as nearly as  practicable,  to the  respective  number of shares of
Common  Stock (on an  as-converted  basis)  held by them on the date the Company
gives the notice specified in Section 3(a). If any holder would thus be entitled
to include more shares than such holder  requested to be registered,  the excess
shall be  allocated  among  other  requesting  holders  pro  rata in the  manner
described in the preceding sentence.

         4. REGISTRATION PROCEDURES.  If and whenever the Company is required by
the  provisions  of Section 2 and 3 hereof to use its best efforts to effect the
registration of any Registrable Securities under the Securities Act, the Company
will, as expeditiously as possible:

                  (a)  prepare  and file  with  the  Commission  a  registration
statement with respect to such securities and use its best efforts to cause such
registration  statement to become effective not later than 60 days from the date
of its filing;

                  (b) prepare and file with the Commission  such  amendments and
supplements to such registration statement and the prospectus used in connection
therewith as may be necessary to keep such registration  statement effective and
comply with the provisions of the Securities Act with respect to the disposition
of  all  Registrable  Securities  covered  by  such  registration  statement  in
accordance   with  the  intended   method  of  disposition  set  forth  in  such
registration statement for such period;

                  (c) furnish to each seller of  Registrable  Securities  and to
each  underwriter  such number of copies of the  registration  statement and the
prospectus included therein (including each preliminary prospectus) as such

<PAGE>

persons  reasonably may request in order to facilitate the intended  disposition
of the Registrable Securities covered by such registration statement;

                  (d) use its  best  efforts  (i) to  register  or  qualify  the
Registrable   Securities  covered  by  such  registration  statement  under  the
securities  or  "blue  sky"  laws  of  such  jurisdictions  as  the  sellers  of
Registrable  Securities or, in the case of an underwritten public offering,  the
managing  underwriter,  reasonably  shall  request,  (ii) to prepare and file in
those jurisdictions such amendments  (including  post-effective  amendments) and
supplements,  and take such other actions,  as may be necessary to maintain such
registration  and  qualification  in  effect  at all  times  for the  period  of
distribution  contemplated  thereby and (iii) to take such further action as may
be  necessary  or  advisable  to  enable  the  disposition  of  the  Registrable
Securities in such jurisdictions,  PROVIDED,  that the Company shall not for any
such purpose be required to qualify  generally to transact business as a foreign
corporation  in any  jurisdiction  where it is not so qualified or to consent to
general service of process in any such jurisdiction;

                  (e) use its best  efforts to list the  Registrable  Securities
covered by such registration statement with any securities exchange on which the
Common Stock of the Company is then listed;

                  (f) immediately  notify each seller of Registrable  Securities
and each  underwriter  under  such  registration  statement,  at any time when a
prospectus  relating  thereto is required to be delivered  under the  Securities
Act,  of the  happening  of any event of which the Company  has  knowledge  as a
result of which the prospectus contained in such registration statement, as then
in effect,  includes any untrue statement of a material fact or omits to state a
material fact required to be stated  therein or necessary to make the statements
therein not misleading in light of the circumstances  then existing and promptly
amend or  supplement  such  registration  statement  to correct  any such untrue
statement or omission;

                  (g)  notify  each  seller  of  Registrable  Securities  of the
issuance by the Commission of any stop order suspending the effectiveness of the
registration statement or the initiation of any proceedings for that purpose and
make every  reasonable  effort to prevent the issuance of any stop order and, if
any stop order is issued, to obtain the lifting thereof at the earliest possible
time;

                  (h) if the offering is an underwritten offering,  enter into a
written  agreement with the managing  underwriter  selected in the manner herein
provided in such form and containing  such provisions as are usual and customary
in the securities  business for such an arrangement between such underwriter and
companies of the  Company's  size and  investment  stature,  including,  without
limitation, customary indemnification and contribution provisions;

                  (i)  if  the  offering  is an  underwritten  offering,  at the
request of any seller of Registrable Securities, use its best efforts to furnish
to such seller on the date that  Registrable  Securities  are  delivered  to the
underwriters  for sale pursuant to such  registration:  (i) a copy of an opinion
dated such date of counsel  representing  the Company  for the  purposes of such
registration,  addressed to the  underwriters,  stating  that such  registration
statement has become effective under the Securities Act and that (A) to the best
knowledge of

<PAGE>

such counsel, no stop order suspending the effectiveness thereof has been issued
and no  proceedings  for that  purpose  have been  instituted  or are pending or
contemplated  under the  Securities  Act, (B) the  registration  statement,  the
related prospectus and each amendment or supplement thereof comply as to form in
all material  respects with the  requirements of the Securities Act (except that
such counsel need not express any opinion as to  financial  statements  or other
financial or statistical  information  contained  therein) and (C) to such other
effects as reasonably may be requested by counsel for the underwriters; and (ii)
a copy of a letter  dated  such date  from the  independent  public  accountants
retained by the Company,  addressed to the  underwriters,  stating that they are
independent  public  accountants  within the meaning of the  Securities  Act and
that,  in the  opinion of such  accountants,  the  financial  statements  of the
Company  included  in  the  registration  statement  or the  prospectus,  or any
amendment or supplement thereof, comply as to form in all material respects with
the applicable  accounting  requirements  of the Securities Act, and such letter
shall additionally cover such other financial matters (including  information as
to the period  ending no more than five  business days prior to the date of such
letter) with respect to such  registration as such  underwriters  reasonably may
request;

                  (j) take all actions  reasonably  necessary to facilitate  the
timely  preparation  and  delivery  of  certificates  (not  bearing  any  legend
restricting  the  sale  or  transfer  of  such   securities)   representing  the
Registrable  Securities to be sold pursuant to the Registration Statement and to
enable such  certificates  to be in such  denominations  and  registered in such
names as the Investors or any underwriters may reasonably request; and

                  (k) take all other  reasonable  actions  necessary to expedite
and facilitate the  registration of the Registrable  Securities  pursuant to the
Registration Statement.

         5. OBLIGATIONS OF HOLDERS.

         Each holder of Registrable Securities shall furnish to the Company such
information  regarding such holder,  the number of Registrable  Securities owned
and  proposed  to be sold by it,  the  intended  method of  disposition  of such
securities  and any  other  information  as  shall be  required  to  effect  the
registration  of the Registrable  Securities,  and cooperate with the Company in
preparing the  registration  statement and in complying with the requirements of
the Securities Act.

         6.  EXPENSES.  All expenses  incurred by the Company in complying  with
Sections 2, 3 and 4 including,  without limitation,  all registration and filing
fees,  printing  expenses,  fees and  disbursements  of counsel and  independent
public accountants for the Company,  fees and expenses  (including counsel fees)
incurred in connection with complying with state  securities or "blue sky" laws,
fees of the National  Association of Securities Dealers,  Inc., fees of transfer
agents and registrars and fees and  disbursements of one counsel for the sellers
of  Registrable  Securities,  not to exceed  $7,500,  but  excluding any Selling
Expenses,  are called  "Registration  Expenses." All underwriting  discounts and
selling commissions  applicable to the sale of Registrable Securities are called
"Selling Expenses."

<PAGE>

         The Company will pay all  Registration  Expenses in connection with any
registration  statement filed hereunder,  and the Selling Expenses in connection
with  each  such  registration  statement  shall be  borne by the  participating
sellers in proportion to the number of Registrable Securities sold by each or as
they may otherwise agree.

         7. INDEMNIFICATION AND CONTRIBUTION.

                  (a) In the event of a registration  of any of the  Registrable
Securities under the Securities Act pursuant to the terms of this Agreement, the
Company will indemnify and hold harmless and pay and  reimburse,  each seller of
such  Registrable  Securities  thereunder,  each underwriter of such Registrable
Securities thereunder and each other person, if any, who controls such seller or
underwriter  within the  meaning of the  Securities  Act,  against  any  losses,
claims,  damages  or  liabilities,  joint  or  several,  to which  such  seller,
underwriter or controlling person may become subject under the Securities Act or
otherwise, insofar as such losses, claims, damages or liabilities (or actions in
respect  thereof) arise out of or are based upon any untrue statement or alleged
untrue  statement of any material fact contained in any  registration  statement
under which such Registrable Securities were registered under the Securities Act
pursuant  hereto or any  preliminary  prospectus or final  prospectus  contained
therein,  or any amendment or supplement  thereof,  or arise out of or are based
upon the omission or alleged  omission to state therein a material fact required
to be stated therein or necessary to make the statements therein not misleading,
or any  violation  or  alleged  violation  of the  Securities  Act or any  state
securities  or blue sky laws and will  reimburse  each  such  seller,  each such
underwriter  and each such  controlling  person for any legal or other  expenses
reasonably  incurred by them in connection with  investigating  or defending any
such loss, claim, damage,  liability or action;  provided, that the Company will
not be liable in any such case if and to the extent  that any such loss,  claim,
damage or liability arises out of or is based upon the Company's  reliance on an
untrue  statement or alleged untrue statement or omission or alleged omission so
made in  conformity  with  information  furnished by any such  seller,  any such
underwriter or any such  controlling  person in writing  specifically for use in
such registration statement or prospectus.

                  (b) In the event of a registration  of any of the  Registrable
Securities  under  the  Securities  Act  pursuant  hereto  each  seller  of such
Registrable Securities thereunder, severally and not jointly, will indemnify and
hold harmless the Company,  each person, if any, who controls the Company within
the meaning of the  Securities  Act,  each  officer of the Company who signs the
registration statement,  each director of the Company, each underwriter and each
person who controls any  underwriter  within the meaning of the Securities  Act,
against all losses, claims,  damages or liabilities,  joint or several, to which
the Company or such officer,  director,  underwriter or  controlling  person may
become subject under the  Securities  Act or otherwise,  insofar as such losses,
claims,  damages or liabilities (or actions in respect  thereof) arise out of or
are based upon reliance on any untrue  statement or alleged untrue  statement of
any material  fact  contained  in the  registration  statement  under which such
Registrable  Securities were registered under the Securities Act pursuant hereto
or any preliminary  prospectus or final  prospectus  contained  therein,  or any
amendment or supplement  thereof, or arise out of or are based upon the omission
or alleged  omission  to state  therein a material  fact  required  to be stated
therein or necessary to make the  statements  therein not  misleading,  and will
reimburse  the  Company  and  each  such  officer,  director,   underwriter  and
controlling person for any legal or other expenses  reasonably  incurred by them

<PAGE>

in connection  with  investigating  or defending any such loss,  claim,  damage,
liability or action,  provided, that such seller will be liable hereunder in any
such  case if and only to the  extent  that  any such  loss,  claim,  damage  or
liability  arises out of or is based upon an untrue  statement or alleged untrue
statement  or  omission  or  alleged  omission  made  in  reliance  upon  and in
conformity with  information  pertaining to such seller,  as such,  furnished in
writing to the Company by such seller  specifically for use in such registration
statement  or  prospectus,  and  provided,  that the  liability  of each  seller
hereunder shall be limited to the proceeds received by such seller from the sale
of   Registrable   Securities   covered   by   such   registration    statement.
Notwithstanding the foregoing, the indemnity provided in this Section 7(b) shall
not  apply to  amounts  paid in  settlement  of any such  loss,  claim,  damage,
liability or expense if such settlement is effected  without the consent of such
indemnified party and provided further,  that the Company shall not be liable in
any such case to the extent that any such loss,  claim,  damage or liability (or
action in respect thereof) arises out of or is based upon an untrue statement or
alleged untrue  statement or omission or alleged  omission in such  registration
statement,  which untrue  statement or alleged  untrue  statement or omission or
alleged  omission is  completely  corrected in an amendment or supplement to the
registration  statement  and  the  undersigned  indemnitees  thereafter  fail to
deliver or cause to be delivered  such  registration  statement as so amended or
supplemented prior to or concurrently with the sale of the Registrable Shares to
the person  asserting  such loss,  claim,  damage or  liability  (or  actions in
respect thereof) or expense after the Company has furnished the undersigned with
the same.

                  (c) Promptly after receipt by an indemnified  party  hereunder
of notice of the commencement of any action,  such indemnified party shall, if a
claim in respect thereof is to be made against the indemnifying party hereunder,
notify the indemnifying party in writing thereof,  but the omission so to notify
the indemnifying party shall not relieve it from any liability which it may have
to such indemnified party other than under this Section 7 and shall only relieve
it from any  liability  which it may have to such  indemnified  party under this
Section 7 if and to the extent the indemnifying  party is materially  prejudiced
by such  omission.  In case  any  such  action  shall  be  brought  against  any
indemnified party and it shall notify the indemnifying party of the commencement
thereof,  the indemnifying party shall be entitled to participate in and, to the
extent it shall wish, to assume and  undertake the defense  thereof with counsel
reasonably  satisfactory to such indemnified  party,  and, after notice from the
indemnifying  party to such  indemnified  party of its election so to assume and
undertake the defense  thereof,  the  indemnifying  party shall not be liable to
such indemnified party under this Section 7 for any legal expenses  subsequently
incurred by such indemnified  party in connection with the defense thereof other
than reasonable costs of investigation  and of liaison with counsel so selected,
PROVIDED, that if the defendants in any such action include both the indemnified
party and the indemnifying party and the indemnified party shall have reasonably
concluded  based upon written advise of its counsel that there may be reasonable
defenses  available  to it  which  are  different  from or  additional  to those
available to the indemnifying party or if the interests of the indemnified party
reasonably  may be deemed to conflict  with the  interests  of the  indemnifying
party,  the indemnified  party shall have the right to select a separate counsel
and to assume such legal defenses and otherwise to participate in the defense of
such  action,  with the  expenses  and fees of such  separate  counsel and other
expenses  related to such  participation  to be reimbursed  by the  indemnifying
party as incurred.

<PAGE>

                  (d) In order to provide for just and equitable contribution to
joint  liability  under the  Securities  Act in any case in which either (i) any
holder of Registrable Securities exercising rights under this Agreement,  or any
controlling  person  of any  such  holder,  makes  a claim  for  indemnification
pursuant to this Section 7 but it is  judicially  determined  (by the entry of a
final judgment or decree by a court of competent jurisdiction and the expiration
of time to  appeal  or the  denial  of the  last  right  of  appeal)  that  such
indemnification  may not be enforced in such case  notwithstanding the fact that
this Section 7 provides for  indemnification  in such case, or (ii) contribution
under the  Securities Act may be required on the part of any such selling holder
or any such controlling  person in circumstances  for which  indemnification  is
provided under this Section 7; then, and in each such case, the Company and such
holder will contribute to the aggregate losses,  claims,  damages or liabilities
to which they may be subject (after contribution from others) in such proportion
so that such holder is responsible for the portion represented by the percentage
that the public  offering  price of its  Registrable  Securities  offered by the
registration  statement  bears to the public  offering  price of all  securities
offered by such registration  statement,  and the Company is responsible for the
remaining portion;  PROVIDED, that, in any such case, (A) no such holder will be
required to contribute any amount in excess of the public  offering price of all
such  Registrable  Securities  offered  by  it  pursuant  to  such  registration
statement  and (B) no person or entity  guilty of  fraudulent  misrepresentation
(within the meaning of Section 12(f) of the Securities  Act) will be entitled to
contribution  from any person or entity  who was not  guilty of such  fraudulent
misrepresentation.
5.
         8. CHANGES IN CAPITAL  STOCK.  If, and as often as, there is any change
in the capital  stock of the Company by way of a stock  split,  stock  dividend,
combination   or   reclassification,   or   through  a  merger,   consolidation,
reorganization  or  recapitalization,   or  by  any  other  means,   appropriate
adjustment  shall  be made in the  provisions  hereof  so that  the  rights  and
privileges granted hereby shall continue as so changed.

         9.   REPRESENTATIONS  AND  WARRANTIES  OF  THE  COMPANY.   The  Company
represents and warrants to the Investor as follows:

                  (a) The execution,  delivery and performance of this Agreement
by the Company have been duly authorized by all requisite  corporate  action and
will not violate any provision of law, any order of any court or other agency of
government,  the  Charter  or By-laws of the  Company  or any  provision  of any
indenture, agreement or other instrument to which it or any or its properties or
assets is bound,  conflict with,  result in a breach of or constitute  (with due
notice or lapse of time or both) a default under any such  indenture,  agreement
or other instrument or result in the creation or imposition of any lien,  charge
or encumbrance of any nature  whatsoever upon any of the properties or assets of
the Company or its subsidiaries.

                  (b) This Agreement has been duly executed and delivered by the
Company and constitutes the legal,  valid and binding obligation of the Company,
enforceable in accordance with its terms, subject to any applicable  bankruptcy,
insolvency  or other laws  affecting  the rights of creditors  generally  and to
general equitable principles and the availability of specific performance.

<PAGE>

         10. ASSIGNMENT OF REGISTRATION  RIGHTS.  The rights to have the Company
register  Registrable  Securities  pursuant to this Agreement may be assigned by
the Investor to transferees or assignees of such securities;  PROVIDED, that the
Company is, within a reasonable time after such transfer, furnished with written
notice of the name and address of such transferee or assignee and the securities
with  respect to which such  registration  rights are being  assigned.  The term
"Investor" as used in this Agreement shall include such permitted assigns.

         11.      MISCELLANEOUS.

                  (a) All covenants and  agreements  contained in this Agreement
by or on behalf of any of the parties hereto shall bind and inure to the benefit
of the  respective  successors  and  assigns of the  parties  hereto  (including
without  limitation  transferees  of any  Registrable  Securities),  whether  so
expressed or not.

                  (b) All notices,  requests,  consents and other communications
hereunder  shall be in  writing  and shall be  delivered  in  person,  mailed by
certified or registered mail, return receipt requested, or sent by telecopier or
telex, addressed (i) if to the Company, at Skyframes,  Inc. 555 Anton Boulevard,
Suite 1200,  Costa Mesa, CA 92626,  or (b) if to the  Investor,  c/o Ocean Drive
Holdings LLC, 444 Madison Avenue, 18th Floor, New York, NY 10022; and (ii) if to
any subsequent  holder of Registrable  Securities,  to it at such address as may
have been  furnished to the Company in writing by such holder;  or, in any case,
at such other  address or addresses  as shall have been  furnished in writing to
the  Company  (in the  case of a holder  of  Registrable  Securities)  or to the
holders of  Registrable  Securities  (in the case of the Company) in  accordance
with the provisions of this paragraph.

                  (c) This  Agreement  shall be  governed  by and  construed  in
accordance  with the  laws of the  State of New  York  applicable  to  contracts
entered into and to be performed wholly within said State.

                  (d) Any judicial proceeding brought against any of the parties
to this  Agreement  on any dispute  arising out of this  Agreement of any matter
related  hereto  shall be  brought  in the  courts  of the State of New York and
County of New York or in the  United  States  District  Court  for the  Southern
District of New York, and, by execution and delivery of this Agreement,  each of
the parties hereto accepts for itself and himself the process in any such action
or  proceeding  by the mailing of copies of such process to it or him, at its or
his address as set forth in paragraph 11(b) and  irrevocably  agrees to be bound
by any judgment  rendered thereby in connection with this Agreement.  Each party
hereto  irrevocably  waives to the fullest extent permitted by law any objection
that it or he may  now or  hereafter  have to the  laying  of the  venue  of any
judicial  proceeding brought in such courts and any claim that any such judicial
proceeding has been brought in an inconvenient  forum. The foregoing  consent to
jurisdiction  shall not constitute  general consent to service of process in the
State of New York for any  purpose  except  as  provided  above and shall not be
deemed to confer rights on any person other than the respective  parties to this
Agreement.

                  (e) This Agreement may not be amended or modified  without the
written  consent of the  Company  and the  holders of at least a majority of the
Registrable Securities.

<PAGE>

                  (f) Failure of any party to exercise any right or remedy under
this  Agreement or otherwise,  or delay by a party in  exercising  such right or
remedy,  shall not operate as a waiver  thereof.  No waiver  shall be  effective
unless and until it is in writing and signed by the party granting the waiver.

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

                  (h) If any  provision  of this  Agreement  shall be held to be
illegal,   invalid   or   unenforceable,    such   illegality,   invalidity   or
unenforceability shall attach only to such provision and shall not in any manner
affect or render illegal,  invalid or unenforceable  any other provision of this
Agreement,  and this  Agreement  shall be  carried  out as if any such  illegal,
invalid or unenforceable provision were not contained herein.

                  (i) This Agreement  constitutes  the entire contract among the
Company and the Purchasers  relative to the subject matter hereof and supersedes
in its entirety any and all prior  agreements,  understandings  and  discussions
with respect thereto.

                  (j) The  headings of the  Sections of this  Agreement  are for
convenience  and shall not by themselves  determine the  interpretation  of this
Agreement.

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

                            SKYFRAMES, INC.

                            By:
                               -----------------------------------------
                            Name: James W. France
                            Title: CEO and President

                            OCEAN DRIVE SF ASSOCIATES, LLC

                            By:
                               -----------------------------------------
                            Name: Daniel M. Myers
                            Title: Managing Director

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00059-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00059-of-00352.parquet"}]]