Document:

EXHIBIT 10.45

                             BUSINESS LOAN AGREEMENT

         THIS BUSINESS LOAN  AGREEMENT is made and entered into this 26th day of
April,  2002  by  and  between  CAPITOL   COMMUNITIES   CORPORATION,   A  NEVADA
CORPORATION,  ("Borrower")  and BOCA  FIRST  CAPITAL  LLLP,  A  FLORIDA  LIMITED
LIABILITY LIMITED PARTNERSHIP ("Lender");

                                   WITNESSETH:

         WHEREAS,  Borrower has received prior  commercial  loans from Lender or
has  applied  to Lender  for a  commercial  loan or loans  and  other  financial
accommodations,  including  those  which  may be  described  on any  exhibit  or
schedule attached to this Agreement; and

         WHEREAS, all such loans and financial  accommodations together with all
future loans and financial  accommodations from Lender to Borrower, are referred
to in this Agreement individually as the "Loan" and collectively as the "Loans";
and

         WHEREAS,  Borrower  understands  and  agrees  that:  (a)  in  granting,
renewing,   or  extending   any  Loan,   Lender  is  relying   upon   Borrower's
representations, warranties, and agreements, as set forth in this Agreement; (b)
the granting, renewing, or extending of any Loan by Lender at all times shall be
subject to Lender's sole judgment and  discretion;  and (c) all such loans shall
be and shall  remain  subject  to the  following  terms and  conditions  of this
Agreement.

         NOW THEREFORE,  in consideration of the mutual benefits accruing to the
respective parties under the provisions of this agreement,  the parties agree as
follows:

1.       TERM. This Agreement shall be effective as of April 26, 2002, and shall
continue  thereafter  until all  Indebtedness  of  Borrower  to Lender  has been
performed in full and the parties terminate this Agreement in writing.

2.       DEFINITIONS. The following words shall have the following meanings when
used in this Agreement. Terms not otherwise defined in this Agreement shall have
the  meanings  attributed  to such terms in the  Uniform  Commercial  Code.  All
referenced  to dollar  amounts  shall mean amounts in lawful money of the United
States of America.

                  A.       Agreement.  The word "Agreement"  means this Business
Loan Agreement,  as this Business Loan Agreement may be amended or modified from
time to time, together with all exhibits and schedules attached to this Business
Loan Agreement from time to time.

                  B.       Borrower.   The   work   "Borrower"   means   CAPITOL
COMMUNITIES  CORPORATION,  A  NEVADA  CORPORATION.   The  word  "Borrower"  also
includes, as applicable, all subsidiaries and affiliates of Borrower as provided
below in the paragraph titled "Subsidiaries and Affiliates."

                  C.       CERCLA. The  word "CERCLA"  means  the  Comprehensive
Environmental Response, Compensation, and Liability Act of 1980, as amended.

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                  D.       Cash  Flow.  The words  "Cash  Flow"  mean net income
after taxes, and exclusive of extraordinary  gains and income, plus depreciation
and amortization.

                  E.       Collateral. The word "Collateral" means and includes
without limitation all property and assets granted as collateral  security for a
Loan, whether real or personal property, whether granted directly or indirectly,
whether  granted  now or in the  future,  and  whether  granted in the form of a
security  interest,  mortgage,  deed  of  trust,  assignment,   pledge,  chattel
mortgage, chattel trust, factor's lien, equipment trust, conditional sale, trust
receipt,  lien, charge, lien or title retention  contract,  lease or consignment
intended  as  a  security  device,  or  any  other  security  or  lien  interest
whatsoever, whether created by law, contract, or otherwise.

                  F.       Debt.   The  word  "Debt"  means  all  of  Borrower's
liabilities excluding Subordinated Debt.

                  G.       ERISA. The word "ERISA" means the Employee Retirement
Income Security Act of 1974, as amended.

                  H.       Event of Default.  The words "Event Of Default"  mean
and include  without  limitation any of the Events of Default set forth below in
the section titled "EVENTS OF DEFAULT."

                  I.       Grantor.   The  word  "Grantor"  means  and  includes
without  limitation each and all of the persons or entities  granting a Security
Interest in any Collateral for the Indebtedness,  including  without  limitation
all Borrowers granting such a Security Interest.

                  J.       Guarantor.  The work  "Guarantor"  means and includes
without limitation each and all of the guarantors,  sureties,  and accommodation
parties in connection with any Indebtedness.

                  K.       Indebtedness.   The  word  "Indebtedness"   means  in
includes  without  limitation  all Loans,  together with all other  obligations,
debts and liabilities of Borrower to Lender, or any one or more of them, as well
as all claims by Lender against  Borrower,  or any one or more of them;  whether
now or hereafter existing, voluntary or involuntary, due or not due, absolute or
contingent,   liquidated  or  unliquidated;   whether  Borrower  may  be  liable
individually  or jointly  with  others;  whether  Borrower may be obligated as a
guarantor,  surety, or otherwise; whether recovery upon such Indebtedness may be
or hereafter may become barred by any statute of  limitations;  and whether such
Indebtedness maybe or hereafter may become otherwise unenforceable.

                  L.       Lender.  The word  "Lender"  means BOCA FIRST CAPITAL
LLLP, A FLORIDA  LIMITED  LIABILITY  LIMITED  partnership,  its  successors  and
assigns.

                  M.       Liquid  Assets.   The  words  "Liquid   Assets"  mean
Borrower's cash on hand plus Borrower's readily marketable securities.

                  N.       Loan.  The word "Loan" or "Loans"  means and includes
without  limitation  any and all commercial  loans and financial  accommodations
from  Lender  to  Borrower,  whether  now or  hereafter  existing,  and  however
evidenced, including without limitation those loans and financial accommodations
described  herein or  described  on any  exhibit or  schedule  attached  to this
Agreement form time to time.

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                  O.       Note.  The word  "Note"  means and  includes  without
limitation  Borrower's  promissory note or notes, if any, evidencing  Borrower's
Loan obligations in favor of Lender,  as well as any substitute,  replacement or
refinancing note or notes therefor.

                  P.       Permitted Liens. The word "Permitted Liens: mean: (a)
liens and security interests  securing  Indebtedness owed by Borrower to Lender;
(b) liens for taxes, assessments, or similar charges either not yet due or being
contested in good faith; ( c) liens of materialmen,  mechanics, warehousemen, or
carriers,  or other like liens  arising in the  ordinary  course of business and
securing  obligations which are not yet delinquent;  (d) purchase money liens or
purchase  money security  interests upon or in any property  acquired or held by
Borrower in the ordinary course of business to secure  indebtedness  outstanding
on the date of this Agreement or permitted to be incurred under the paragraph on
this Agreement titled "Indebtedness and Liens"; (e) liens and security interests
which, as of the date of this Agreement,  have been disclosed to and approved by
the Lender in writing;  and (f) those liens and security  interests which in the
aggregate  constitute  an  immaterial  and  insignificant  monetary  amount with
respect to the net value of Borrower's assets.

                  Q.       Related Documents. The words "Related Documents" mean
and include without  limitation all promissory notes,  loan commitments,  credit
agreements,  loan agreements,  environmental  agreements,  guaranties,  security
agreements, mortgages, deeds of trust, and all other instruments, agreements and
documents,  whether now or hereafter  existing,  executed in connection with the
Indebtedness.

                  R.       Security  Agreement.  The words "Security  Agreement"
mean and  include  without  limitation,  any  agreements,  promises,  covenants,
arrangements,  understandings  or  other  agreements,  whether  created  by law,
contract,  or  otherwise,  evidencing,  governing,  representing,  or creating a
Security Interest.

                  S.       Security Interest. The words "Security Interest" mean
and include without limitation any type of collateral  security,  whether in the
form of a lien, charge,  mortgage,  deed of trust,  assignment,  pledge, chattel
mortgage, chattel trust, factor's lien, equipment trust, conditional sale, trust
receipt,  lien or title  retention  contract,  collateral  assignment,  lease or
consignment  intended  as a  security  device,  or any  other  security  or lien
interest whatsoever, whether created by law, contract, or otherwise.

                  T.       SARA. The word "SARA" means the Superfund  Amendments
and Reauthorization Act of 1986 as now or hereafter amended.

                  U.       Subordinated Debt. The words "Subordinated Debt" mean
indebtedness and liabilities of Borrower which have been subordinated by written
agreement  to  indebtedness  owed by  Borrower  to Lender in form and  substance
acceptable to Lender.

                  V.       Stock Exchange Agreement. That certain Stock Exchange
Agreement of even date  herewith  entered  into by and between  Michael G. Todd,
Prescott Investment, L.P., Ken Richardson, and Howard Bloom.

                  W.       Tangible Net Worth.  The words  "Tangible  Net Worth"
mean Borrower's total  assets excluding all  intangible  assets (i.e., goodwill,

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trademarks, patents, copyrights, organizational expenses, and similar intangible
items, but including leaseholds and leasehold improvements) less total Debt.

                  X.       Working  Capital.  The  words "Working Capital"  mean
Borrower's current assets,  excluding prepaid expenses,  less Borrower's current
liabilities.

3.       CONDITIONS  PRECEDENT  TO EACH  ADVANCE.  Lender's  obligation  to make
the initial Loan Advance and each  subsequent  Loan Advance under this Agreement
shall be subject  to the  fulfillment  to  Lender's  satisfaction  of all of the
conditions set forth in this Agreement and in the Related Documents.

                  A.       Loan  Documents.  Borrower shall provide to Lender in
form satisfactory to Lender the following  documents for the Loan: (a) the Note;
(b) Security Agreements granting to Lender security interests in the Collateral,
( c) Financing Statements  perfecting Lender's Security Interests;  (d) evidence
of insurance as required below; and (e) any other documents  required under this
Agreement or by Lender or its counsel.

                  B.       Borrower's   Authorization.   Borrower   shall   have
provided  in form  and  substance  satisfactory  to  Lender  properly  certified
resolutions,  duly authorizing the execution and delivery of this Agreement, the
Note  and the  Related  Documents,  and  such  other  authorizations  and  other
documents and  instruments as Lender or its counsel,  in their sole  discretion,
may require.

                  C.       Payment  of Fees and  Expenses.  Borrower  shall have
paid to Lender  all fees,  charges,  and  other  expenses  which are then due an
payable as specified in this Agreement or any Related Document.

                  D.       Representations  and Warranties.  The representations
and warranties set forth in this Agreement, in the Related Documents, and in any
document or  certificate  delivered to Lender under this  Agreement are true and
correct.

                  E.       No Event of  Default.  There  shall  not exist at the
time of any advance a condition which would constitute an Event of Default under
this Agreement.

4.       REPRESENTATIONS  AND  WARRANTIES.  Borrower represents and warrants  to
Lender, as of the date of this Agreement, as of the date of each disbursement of
Loan proceeds,  as of the date of any renewal,  extension or modification of any
Loan, and at all times any Indebtedness exists:

                  A.       Organization. Borrower is a corporation which is duly
organized, validly existing, and in good standing under the laws of the state of
Borrower's  creation and is validly  existing and in good standing in all states
in which Borrower is doing  business.  Borrower has the full power and authority
to own it  properties  and to transact the  businesses  in which it is presently
engaged or presently  proposes to engage.  Borrower also is duly  qualified as a
foreign  corporation  and is in good standing in all states in which the failure
to so qualify would have a material  adverse effect on its business or financial
condition.

                  B.       Authorization.    The   execution,    delivery,   and
performance  of this  Agreement  and all Related  Documents by Borrower,  to the
extent  to be  executed  delivered  or  performed  by  Borrower,  have been duly
authorized  by all necessary  action by Borrower;  do not require the consent or
approval of any

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other person,  regulatory  authority or  governmental  body; and do not conflict
with,  result in a violation of, or constitute a default under (a) any provision
of its articles of Incorporation or organization, or bylaws, or any agreement or
other instrument binding upon Borrower or (b) any law, governmental  regulation,
court decree, or order applicable to Borrower.

                  C.       Financial  Information.  Each financial  statement of
Borrower  (or  any of  Borrower's  affiliates)  supplied  to  Lender  truly  and
completely  disclosed  Borrower's  financial  condition  as of the  date  of the
statement,  and there has been no material  adverse change in Borrower's (or any
of Borrower's affiliates) financial condition subsequent to the date of the most
recent financial  statement  supplied to Lender.  Borrower (or any of Borrower's
affiliates) has no material  contingent  obligations except as disclosed in such
financial statements.

                  D.       Legal  Effect.  The  Agreement  constitutes,  and any
instrument  or  agreement  required  hereunder  to be  given  by  Borrower  when
delivered  will  constitute,  legal,  valid and binding  obligations of Borrower
enforceable against Borrower in accordance with their respective terms.

                  E.       Properties.  Except as contemplated by this Agreement
or as previously  disclosed in Borrower's  financial statements or in writing to
Lender and as accepted by Lender,  and except for  property  tax liens for taxes
not  presently  due and  payable,  Borrower  owns and has  good  title to all of
Borrower's  properties  free and clear of all  Security  Interests,  and has not
executed  any  security  documents  or  financing  statement  relating  to  such
properties.  All of Borrower's  properties are titled in Borrower's  legal name,
and Borrower has not used, or filed a financing  statement under, any other name
for at least the last five (5) years.

                  F.       Hazardous  Substances.  The terms "hazardous  waste,"
"hazardous substance,"  "disposal," "release," and "threatened release," as used
in this  Agreement  shall have the same  meanings as set forth in the  "CERCLA",
"SARA," the Hazardous Materials  Transportation Act, 49 U.S.C. Section 1801, et.
esq., the Rescue Conservation and recovery Act, 42 U.S.C. Section 6901, et seq.,
or other  applicable  state or  Federal  laws,  rules,  or  regulations  adopted
pursuant to any of the  foregoing.  Except as disclosed to and  acknowledged  by
Lender in writing,  Borrower represents and warrants that: (a) During the period
of Borrower's  ownership of the properties,  there has been no use,  generation,
manufacture,  storage, treatment, disposal, release or threatened release of any
hazardous  waste or substance by any person on, under,  about or from any of the
properties.  (b) Borrower  has no knowledge  of, or reason to believe that there
has been ( i) any use, generation,  manufacture,  storage, treatment,  disposal,
release,  or threatened  release of any hazardous  waste or substance on, under,
about or from the  properties  by any prior  owners or  occupants  of any of the
properties, or (ii) any actual or threatened litigation or claims of any kind by
any person  relating  to such  matters.  ( c) Neither  Borrower  nor any tenant,
contractor,  agent or other  authorized user of any of the properties shall use,
generate,  manufacture, store, treat, dispose of, or release any hazardous waste
or  substance  on,  under,  about  from the  properties  by any prior  owners or
occupants of any of the properties,  or (ii) any actual or threatened litigation
or claims of any kind by any  person  relating  to such  matters.  ( c)  Neither
Borrower nor any tenant,  contractor,  agent or other  authorized user of any of
the properties shall use, generate  manufacture,  store,  treat,  dispose of, or
release any hazardous  waste or substance  on,  under,  about or from any of the
properties;  and any such  activity  shall be conducted in  compliance  with all
applicable  federal,  state,  and  local  laws,  regulations,   and  ordinances,

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including without limitation those laws,  regulations,  and ordinances described
above. Borrower authorizes Lender and its agents to enter upon the properties to
make such  inspection  and tests as Lender  may deem  appropriate  to  determine
compliance of the properties with this section of the Agreement. Any inspections
or tests made by Lender shall be at Borrower's expense and for Lender's purposes
only and shall not be construed to create any responsibility or liability on the
part of the Lender to Borrower or to any other person. The  representations  and
warranties   contained  herein  are  based  upon  Borrower's  due  diligence  in
investigating  the  properties  for hazardous  waste and  hazardous  substances.
Borrower  hereby (a) releases  and wives any future  claims  against  Lender for
indemnity or  contribution  in the event Borrower  becomes liable for cleanup or
other costs under any such laws,  and (b) agrees to indemnify  and hold harmless
Lender against any and all claims, losses, liabilities,  damages, penalties, and
expenses  which Lender may directly or  indirectly  sustain or suffer  resulting
from a breach of this section of the Agreement or as a  consequence  of any use,
generation,  manufacture,  storage,  disposal,  release  or  threatened  release
occurring prior to Borrower's  ownership or interest in the properties,  whether
or not the same was or should have been known to  Borrower.  The  provisions  of
this section of the  Agreement,  including the  obligation  to indemnify,  shall
survive the payment of the  Indebtedness  and the  termination  or expiration of
this Agreement and shall not be affected by Lender's acquisition of any interest
in any of the properties, whether by foreclosure or otherwise.

                  G.       Litigation   and  Claims.   No   litigation,   claim,
investigation,  administrative proceeding or similar action (including those for
unpaid taxes) against Borrower is pending or threatened,  and no other event has
occurred which may materially adversely affect Borrower's financial condition or
properties,  other than litigation,  claims,  or other events, if any, that have
been disclosed to and acknowledged by Lender in writing.

                  H.       Taxes. To the best of Borrower's  knowledge,  all tax
returns and reports of Borrower that are or were required to be filed, have been
filed, and all taxes,  assessments and other governmental charges have been paid
in full,  except  those  presently  being or to be contested by Borrower in good
faith in the ordinary  course of business and for which  adequate  reserves have
been provided.

                  I.       Lien Priority.  Unless otherwise previously disclosed
to Lender in writing, Borrower (or any of Borrower's affiliates) has not entered
into or granted any Security  Agreements,  or permitted the filing or attachment
of any  Security  Interests on or affecting  any of the  Collateral  directly or
indirectly  securing  repayment of Borrower's Loan and Note, that would be prior
or that may in any way be superior to Lender's Security  Interests and rights in
and to such collateral.

                  J.       Binding  Effect.   This  Agreement,   the  Note,  all
Security Agreements directly or indirectly securing repayment of Borrower's Loan
and Note, and all of the Related  Documents are binding upon Borrower as well as
upon  Borrower's  successors,  representatives  and  assigns,  and  are  legally
enforceable in accordance with their respective terms.

                  K.       Commercial Purposes. Borrower intends to use the Loan
proceeds solely for business or commercial related purposes.

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                  L.       Employee Benefit Plans. Each employee benefit plan as
to which Borrower may have any liability  complies in all material respects with
all applicable requirements of law and regulations, and ( I) no Reportable Event
nor  Prohibited  Transaction  (as defined in ERISA) has occurred with respect to
any such plan,  (ii) Borrower has not withdrawn  from any such plan or initiated
steps to do so, (iii) no steps have been taken to terminate  any such plan,  and
(iv) there are no unfunded  liabilities other than those previously disclosed to
Lender in writing.

                  M.       Location   of   Borrower's   Offices   and   Records.
Borrower's place of business,  or Borrower's Chief executive office, if Borrower
has more than one place of business,  is located at 25550 HAWTHORNE BLVD., SUITE
207,  TORRANCE,  CA 90505.  Unless Borrower has designated  otherwise in writing
this  location is also the office or offices  where  Borrower  keeps its records
concerning the Collateral.

                  N.       Information.    All    information    heretofore   or
contemporaneously  herewith  furnished by Borrower to Lender for the purposes of
or in connection with this Agreement or any transaction  contemplated hereby is,
and all  information  hereafter  furnished by or on behalf of Borrower to Lender
will be,  true and  accurate in every  material  respect on the date as of which
such information is dated or certified;  and none of such information is or will
be  incomplete  by omitting to state any  material  fact  necessary to make such
information not misleading.

                  O.       Survival of Representations and Warranties.  Borrower
understands  and agrees  that  Lender,  without  independent  investigation,  is
relying  upon the above  representations  and  warranties  in  making  the above
referenced  Loan  to  Borrower.  Borrower  further  agrees  that  the  foregoing
representations and warranties shall be continuing in nature and shall remain in
full force and effect until such time as Borrower's  Indebtedness  shall be paid
in full, or until this  Agreement  shall be  terminated  in the manner  provided
above, whichever is the last to occur.

5.       AFFIRMATIVE COVENANTS.  Borrower covenants and agrees with Lender that,
while this Agreement is in effect, Borrower will:

                  A.       Litigation.  Promptly inform Lender in writing of (a)
all material  adverse  changes in Borrower's  financial  condition,  and (b) all
existing  and  threatened  litigation,  claims,  investigations,  administrative
proceedings or similar actions  affecting  Borrower or any Guarantor which could
materially affect the financial condition of Borrower or the financial condition
of any Guarantor.

                  B.       Financial Records.  Maintain its books and records in
accordance  with  generally  accepted  accounting   principles;   applied  on  a
consistent  basis,  and permit Lender to examine and audit  Borrower's books and
records at all reasonable times. At the option of Lender, Borrower shall provide
Lender with periodic  certified audited  statements of the operations of and the
financial condition of Borrower.

                  C.       Financial Statements. Furnish Lender with, as soon as
available,  but in no event  later than  ninety  (90) days after the end of each
fiscal year,  Borrower's  balance sheet and income statement for the year ended,
reviewed by a certified public accountant  satisfactory to Lender,  and, as soon
as available,  but in no event later than ninety (90) days after the end of each
fiscal quarter,  Borrower's  balance sheet and profit and loss statement for the
period ended, prepared and certified as correct to the best knowledge and belief
by Borrower's chief financial  officer of other officer or person  acceptable to

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Lender.  Furnish  Lender with, as soon as available,  but in no event later than
thirty (30) days subsequent to the filing date thereof  (including  extensions),
annual Federal  partnership tax returns.  All financial  reports  required to be
provided  under this  Agreement  shall be prepared in accordance  with generally
accepted accounting principles,  applied on a consistent basis, and certified by
Borrower as being true and correct.

                  D.       Additional   Information.   Furnish  such  additional
information  and  statements,  lists  of  assets  and  liabilities,   agings  of
receivables and payables, inventory schedules,  budgets, forecasts, tax returns,
and other  reports with respect to Borrower's  financial  condition and business
operations as Lender may request from time to time.

6.       FINANCIAL COVENANTS.  Comply with the following covenants:

                  A.       Insurance.  Maintain  fire and other risk  insurance,
public liability insurance,  and such other insurance as Lender may require with
respect to Borrower's properties and operations, in form, amounts, coverages and
with insurance companies reasonably acceptable to Lender. Borrower, upon request
of Lender, will deliver to Lender from time to time the policies or certificates
of  insurance  in form  satisfactory  to  Lender,  including  stipulations  that
coverages  will not be canceled or diminished  without at least thirty (30) days
prior written  notice to Lender.  Each  insurance  policy also shall include and
endorsement  providing  that coverage in favor of Lender will not be impaired in
any way by any act,  omission  or default of Borrower  or any other  person.  In
connection with all policies covering assets in which Lender holds or is offered
a security  interest for the Loans,  Borrower will provide Lender with such loss
payable or other endorsements as Lender may require.

                  B.       Insurance Reports. Furnish to Lender, upon request of
Lender,  reports on each existing  insurance  policy showing such information as
Lender may reasonably request,  including without limitation the following:  (a)
the name of the insurer;  (b) the risks insured;  ( c) the amount of the policy;
(d) the properties insured; (e) the then current property values on the basis of
which insurance has be obtained, and the manner of determining those values; and
(f) the  expiration  date of the policy.  In  addition,  upon  request of Lender
(however  not more  often  than  annually),  Borrower  will have an  independent
appraiser satisfactory to Lender determine, as applicable, the actual cash value
or replacement cost of any Collateral.  The cost of such appraisal shall be paid
by Borrower.

                  C.       Other   Agreements.   Comply   with  all   terms  and
conditions of all other agreements,  whether now or hereafter existing,  between
Borrower  and any other party and notify  Lender  immediately  in writing of any
default in connection with any other such agreements.

                  D.       Loan Proceeds.  Use all of the loan proceeds from the
Loan  described  in Exhibit "A"  attached  hereto and by  reference  made a part
hereof solely for the purposes expressed and set forth in said Exhibit "A".

                  E.       Taxes,  Charges and Liens. Pay and discharge when due
all of its  indebtedness  and  obligations,  including  without  limitation  all
assessments,  taxes,  governmental charges,  levies and liens, of every kind and
nature, imposed upon Borrower or it properties, income, or profits, prior to the
date on which  penalties  would  attach,  and all lawful claims that, if unpaid,
might  become a lien or charge upon any of  Borrower's  properties,  income,  or

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profits.  Provided  however,  Borrower will not be required to pay and discharge
any  such  assessment,  tax,  charge,  levy,  lien or  claim  so long as (a) the
legality  of  the  same  shall  be  contested  in  good  faith  by   appropriate
proceedings,  and (b)  Borrower  shall have  established  on its books  adequate
reserves with respect to such contested assessment,  tax, charge, levy, lien, or
claim in accordance with generally accepted accounting practices. Borrower, upon
demand of Lender, will furnish to Lender evidence of payment of the assessments,
taxes,  charges,  levies,  liens and claims and will  authorize the  appropriate
government  official to deliver to Lender at any time a written statement of any
assessments,  taxes,  charges,  levies,  liens  and  claims  against  Borrower's
properties, income, or profits.

                  F.       Performance.  Perform  and  comply  with  all  terms,
conditions,  and  provisions  set  forth in this  Agreement  and in the  Related
Documents in a timely manner,  and promptly  notify Lender if Borrower learns of
the  occurrence  of any event which  constitutes  an Event of Default under this
Agreement or under any of the Related Documents.

                  G.       Operations.   Maintain   executive   and   management
personnel  with  substantially  the same  qualifications  and  experience as the
present executive and management personnel;  provide written notice to Lender of
any change in executive and management  personnel;  conduct its business affairs
in a  reasonable  and  prudent  manner  and in  compliance  with all  applicable
federal, state and municipal laws, ordinances,  rules and regulations respecting
its  properties,   chargers,   businesses  and  operations,   including  without
limitations,  compliance  with the American With  Disabilities  Act and with all
minimum  funding  standards  and other  requirements  of ERISA  and  other  laws
applicable to Borrower's employee benefit plans.

                  H.       Inspection.  Permit  employees or agents of Lender at
any reasonable  time to inspect any and all Collateral for the loan or Loans and
Borrower's other properties and to examine or audit Borrower's books,  accounts,
and records and to make copies and memoranda of Borrower's books,  accounts, and
records.  If  Borrower  now or at  any  time  hereafter  maintains  any  records
(including without  limitation  computer generated records and computer software
programs for the generation of such records) in the possession of a third party,
Borrower,  upon request of Lender, shall notify such party to permit Lender free
access to such records at all reasonable times and to provide Lender with copies
o f any records it may request, all at Borrower's expense.

                  I.       Compliance  Certificate.  Unless waived in writing by
Lender, provide Lender at least annually and at the time of each disbursement of
Loan proceeds with a certificate executed by Borrower's chief financial officer,
or  other  officer  or  person   acceptable  to  Lender,   certifying  that  the
representations  and warranties set forth in this Agreement are true and correct
as of the date of the certificate and further certifying that, as of the date of
the certificate, no Event of Default exists under this Agreement.

                  J.       Environmental Compliance and Reports.  Borrower shall
comply in all respects  with all  environmental  protection  federal,  state and
local laws, statutes,  regulations and ordinances; not cause or permit to exist,
as a result of an intentional or unintentional action or omission on its part on
or the part of any third party,  on property owned and/or  occupied by Borrower,
any  environmental  activity where damage may result to the environment,  unless
such environmental activity is pursuant to and in compliance with the conditions
of a permit  issued  by the  appropriate  federal,  state or local  governmental

                                       9
<PAGE>

authorities;  shall  furnish to Lender  promptly and in any event within  thirty
(30) days after receipt thereof a copy of any notice,  summons,  lien, citation,
directive,  letter  or other  communication  from  any  governmental  agency  or
instrumentality  concerning any intentional or unintentional  action or omission
on Borrower's part in connection with any environmental  activity whether or not
there is damage to the environment and/or other natural resources.

                  K.       Additional  Assurances.  Make, execute and deliver to
Lender such promissory notes,  mortgages,  deeds of trust,  security agreements,
financing statements,  instruments,  documents and other agreements as Lender or
its  attorneys  may  reasonably  request to evidence and secure the Loans and to
perfect all Security Interests.

7.       NEGATIVE COVENANTS.  Borrower  covenants  and  agrees with  Lender that
while this Agreement is in effect, Borrower shall not, without the prior written
consent of Lender:

                  A.       Indebtedness  and  Liens.  (a)  Except for trade debt
incurred in the normal course of business and  indebtedness  for borrowed money,
including  capital  leases,  (b) except as allowed as a  Permitted  Lien,  sell,
transfer,  mortgage,  assign,  pledge,  lease,  grant a security interest in, or
encumber any of Borrower's  assets, or ( c) sell with recourse any of Borrower's
accounts, except to Lender.

                  B.       Continuity of Operations.  (a) Engage in any business
activities  substantially  different  than those in which  Borrower is presently
engaged,  (b)  cease  operations,   liquidate,   merge,  transfer,  acquire,  or
consolidate with any other entity,  change ownership,  change its name, dissolve
or transfer or sell Collateral out of the ordinary course of business,  ( c) pay
any dividends on Borrower's  stock (other than dividends  payable in its stock),
provided,  however that  notwithstanding  the foregoing,  but only so long as no
Event of Default has occurred and is continuing or would result from the payment
of dividends,  if Borrower is a "Subchapter  S  Corporation"  (as defined in the
Internal  Revenue Code of 1986, as amended),  Borrower may pay cash dividends on
its stock to its shareholders  from time to time in amounts  necessary to enable
the  shareholder to pay income taxes and make  estimated  income tax payments to
satisfy  their  liabilities  under federal and state law which arise solely from
their status as  Shareholders  of a Subchapter  S  Corporation  because of their
ownership  of shares of stock of  Borrower,  or (d)  purchase  or retire  any of
Borrower's outstanding shares or alter or amend Borrower's capital structure.

                  C.       Loans, Acquisitions and Guarantees.  (a) Loan, invest
in or advance money or assets,  (b) purchase,  create or acquire any interest in
any  other  enterprise  or  entity,  or ( c) incur any  obligation  as surely or
guarantor other than in the ordinary course of business.

8.       CESSATION OF ADVANCES.  If Lender has made any commitment to  make  any
Loan to Borrower,  whether  under this  Agreement or under any other  agreement,
Lender  shall have no  obligation  to make Loan  Advances  or to  disburse  Loan
proceeds if: (a) Borrower or any Guarantor is in default under the terms of this
Agreement or any of the Related  Documents or any other  agreement that Borrower
or  any  Guarantor  has  with  Lender;  (b)  Borrower  or any  Guarantor  become
insolvent, files a petition in bankruptcy or similar proceedings, or is adjudged
a bankrupt;  (c) there occurs a material adverse change in Borrower's  financial
conditions,  in the financial condition of any Guarantor, or in the value of any

                                       10
<PAGE>

Collateral  securing  any Loan;  (d) any  Guarantor  seeks,  claims or otherwise
attempts to limit, modify or revoke such Guarantor's guaranty of the loan or any
other loan with Lender; or (e) Lender in good faith deems itself insecure,  even
though no Event of Default shall have occurred.

9.       EVENT OF DEFAULT.  Each of the following shall constitute an  Event  of
Default under this Agreement:

                  A.       Default on Indebtedness.  Failure of Borrower to make
any payment when due on the Loans.

                  B.       Other Defaults. Failure of Borrower or any Grantor to
comply  with or to perform  when due any other  term,  obligation,  covenant  or
condition  contained in this  Agreement or in any of the Related  Documents,  or
failure of Borrower  to comply  with or to perform  any other term,  obligation,
covenant  or  condition  contained  in any other  agreement  between  Lender and
Borrower.

                  C.       Default in Favor of Third Parties. Should Borrower or
any Grantor  default under any loan,  extension of credit,  security  agreement,
purchase  or sales  agreement,  or any  other  agreement,  in favor of any other
creditor  or person that may  materially  affect any of  Borrower's  property or
Borrower's  or any  Grantor's  ability  to  repay  the  Loans or  perform  their
respective obligations under this Agreement or any of the Related Documents.

                  D.       False  Statements.  Any warranty,  representation  or
statement  made or  furnished  to  Lender by or on  behalf  of  Borrower  or any
Guarantor  under this Agreement or the Related  Documents is false or misleading
in any  material  respect at the time made or  furnished,  or  becomes  false or
misleading at any time thereafter.

                  E.       Defective Collateralization. This Agreement or any of
the Related Documents ceases to be in full force and effect  (including  failure
of any Security  Agreement to create a valid and perfected Security Interest) at
any time and for any reason.

                  F.       Insolvency.   The   dissolution   or  termination  of
Borrower's  existence as a going  business,  the  insolvency  of  Borrower,  the
appointment  of a receiver for any part of Borrower's  property,  any assignment
for the benefit of creditors,  any type of creditor workout, or the commencement
of any  proceeding  under  any  bankruptcy  or  insolvency  laws  by or  against
Borrower.

                  G.       Creditor of Forfeiture  Proceedings.  Commencement of
foreclosure  or  forfeiture   proceedings,   whether  by  judicial   proceeding,
self-help,  repossession or any other method,  by any creditor of Borrower,  any
creditor of any Grantor against any collateral securing the Indebtedness,  or by
any governmental agency. This includes a garnishment,  attachment, or levy on or
of any of Borrower's deposit accounts with Lender.

                  H.       Events  Affecting  Guarantor.  Any of  the  preceding
events  occurs with respect to any Guarantor of any of the  Indebtedness  or any
Guarantor dies or becomes  incompetent,  or revokes or disputes the validity of,
or liability under, any Guaranty of the Indebtedness.

                                       11
<PAGE>

                  I.       Change  in  Ownership.  Any  change in  ownership  of
twenty-five percent (25%) or more of the partnership interests of Borrower.

                  J.       Adverse Change.  A material  adverse change occurs in
Borrower's  financial  condition,  or Lender believes the prospect of payment or
performance of the Indebtedness is impaired.

10.      EFFECT OF AN EVENT OF DEFAULT.  If any  Event  of  Default shall occur,
except where otherwise provided in this Agreement or the Related Documents,  all
commitments  and  obligations  of Lender  under this  Agreement  or the  Related
Documents or any other  agreement  immediately  will  terminate and, at Lender's
option,  all Indebtedness  immediately will become due and payable,  all without
notice of any kind to  Borrower,  except that in the case of an Event of Default
of the type described in the "Insolvency"  subsection  above,  such acceleration
shall be automatic and not optional. In any addition,  Lender shall have all the
rights and  remedies  provided in the Related  Documents or available at law, in
equity,  or otherwise.  Except as may be  prohibited  by applicable  law, all of
Lender's rights and remedies shall be cumulative and may be exercised singularly
or  concurrently.  Election  by Lender to pursue  any remedy  shall not  exclude
pursuit of any other  remedy,  and an election to make  expenditures  or to take
action to perform an  obligation  of Borrower or of any Grantor shall not affect
Lender's right to declare a default and to exercise its rights and remedies.

11.      MISCELLANEOUS PROVISIONS.  The following  miscellaneous provisions  are
part of this Agreement:

                  A.       Amendments. This Agreement, together with any Related
Documents,  constitutes the entire understanding and agreement of the parties as
to the matters set forth in this  Agreement.  No  alteration  of or amendment to
this  Agreement  shall be  effective  unless  given in writing and signed by the
party or parties sought to be changed or bound by the alteration or amendment.

                  B.       Applicable  Law. This Agreement has been delivered to
Lender and  accepted by Lender in the State of  Florida.  If there is a lawsuit,
Borrower  agrees  upon  Lender's  request to submit to the  jurisdiction  of the
courts  of  Sarasota  County,  the State of  Florida.  This  Agreement  shall be
governed by and construed in accordance with the laws of the State of Florida.

                  C.       Caption Headings.  Caption headings in this Agreement
are for convenience  purposes only and are not to be used to interpret or define
the provisions of this Agreement.

                  D.       Consent to Loan  Participation.  Borrower  agrees and
consents  to Lender's  sale or  transfer,  whether now or later,  of one or more
participation interests in the Loans to one or more purchasers,  whether related
or unrelated to Lender. Lender may provide,  without any limitation  whatsoever,
to any one or more  purchasers,  or potential  purchasers,  any  information  or
knowledge  Lender may have about Borrower or about any other matter  relating to
the Loan,  and  Borrower  hereby  waives  any rights to privacy it may have with
respect to such  matters.  Borrower  additionally  waives any and all notices of
sale of participation interest, as well as all notices of any repurchase of such
participation  interests.  Borrower also agrees that the  purchasers of any such

                                       12
<PAGE>

participation  interest  will  be  considered  as the  absolute  owners  of such
interest  in  the  Loans  and  will  have  all  the  rights  granted  under  the
participation  agreement or agreements  governing the sale of such participation
interest.  Borrower further waives all rights of offset or counterclaim  that it
may have  now or  later  against  Lender  or  against  any  purchaser  of such a
participation  interest and  unconditionally  agrees that either  Lender or such
purchaser may enforce Borrower's  obligation under the Loans irrespective of the
failure or  insolvency  of any  holder of any  interest  in the Loans.  Borrower
further agrees that the purchaser of any such participation interest may enforce
its interests  irrespective of any personal claims or defenses that Borrower may
have against Lender.

                  E.       Costs  and  Expenses.  Borrower  agrees  to pay  upon
demand all of Lender's  expenses  incurred in connection  with the  preparation,
execution,  enforcement,  modification  and  collection of this  Agreement or in
connection  with the Loans  made  pursuant  to this  Agreement.  Lender  may pay
someone  else to help  collect  the Loans and to  enforce  this  Agreement,  and
Borrower  will pay that  amount.  This  includes,  subject to any  limits  under
applicable  law,  Lender's  legal  expenses,  whether or not there is a lawsuit,
including  expenses for bankruptcy  proceedings  (including efforts to modify or
vacate  any  automatic  stay  or  injunction),   appeals,  and  any  anticipated
post-judgment  collection  services.  Borrower also will pay any court costs, in
addition to all other sums provided by law.

                  F.       Notices.  All notices required to be given under this
Agreement  shall be  given  in  writing,  may be sent by  telefacsimile  (unless
otherwise  required by law), and shall be effective  when actually  delivered or
when deposited with a nationally  recognized  overnight  courier or deposited in
the United States mail, first class, postage prepaid,  addressed to the party to
whom the notice is to be given at the address shown above.  Any party may change
its address for notices under this  Agreement by giving formal written notice to
the other  parties,  specifying  that the purpose of the notice is to change the
party's  address.  To the extend  permitted by applicable  law, if there is more
than  one  Borrower,  notice  to any  Borrower  will  constitute  notice  to all
Borrowers. For notice purposes,  Borrower will keep Lender informed at all times
of Borrower's current address(es).

                  G.       Severability.  If a court of  competent  jurisdiction
finds any provision of this Agreement to be invalid or  unenforceable  as to any
person or circumstance,  such finding shall not render that provision invalid or
unenforceable as to any other persons or  circumstances.  If feasible,  any such
offending  provision  shall be deemed to be  modified to be within the limits of
enforceability  or validity;  however,  if the offending  provision cannot be so
modified, it shall be stricken and all other provisions of this Agreement in all
other respects shall remain valid and enforceable.

                  H.       Subsidiaries  and  Affiliates  of  Borrower.  To  the
extend the context of any  provisions of this  Agreement  makes it  appropriate,
including without limitation any representation,  warranty or covenant, the word
"Borrower"  as used herein shall  include all  subsidiaries  and  affiliates  of
Borrower.  Notwithstanding  the foregoing however,  under no circumstances shall
this  Agreement  be  construed  to  require  Lender  to make  any  Loan or other
financial accommodation to any subsidiary or affiliate or Borrower.

                  I.       Successors and Assigns.  All covenants and agreements
containedby  or on behalf of Borrower  shall bind its successors and assigns and

                                       13
<PAGE>

shall inure to the benefit of Lender, its successors and assigns. Borrower shall
not,  however,  have the right to assign its rights under this  Agreement or any
interest therein, without the prior written consent of Lender.

                  J.       Survival.   All  warranties,   representations,   and
covenants  made by Borrower in this  Agreement  or in any  certificate  or other
instrument  delivered  by  Borrower  to Lender  under  this  Agreement  shall be
considered to have been relied upon by Lender and will survive the making of the
Loan  and  delivery  to  Lender  of the  Related  Documents,  regardless  of any
investigation made by Lender or on Lender's behalf.

                  K.       Time is of the Essence. Time is of the essence in the
performance of this Agreement.

                  L.       Waiver. Lender shall not be deemed to have waived any
rights under this Agreement unless such waiver is given in writing and signed by
Lender. No delay or omission on the part of Lender in exercising any right shall
operate as a waiver of Lender's right otherwise to demand strict compliance with
that  provision  or any other  provision of this  Agreement.  No prior waiver by
Lender, nor any course of dealing between Lender and Borrower, or between Lender
and any Grantor,  shall  constitute a waiver of any of Lender's rights or of any
obligations  of  Borrower  or of  any  Grantor  as to any  future  transactions.
Whenever the consent of Lender is required under this Agreement, the granting of
such consent by Lender in any instance shall not constitute  continuing  consent
in subsequent  instances  where such consent is required,  and in all cases such
consent maybe granted or withheld in the sole discretion of Lender.

BORROWER  ACKNOWELEDGES  HAVING READ ALL THE  PROVISION  OF THIS  BUSINESS  LOAN
AGREEMENT, AND BORROWER AGREES TO ITS TERMS.

IN WITNESS  WHEREOF,  Borrower  and Lender  have  executed  this  Business  Loan
Agreement the day and year hereinabove set forth.

Signed, sealed and delivered
in the presence of:
                                             BORROWER:
                                             CAPITOL COMMUNITIES CORPORATION,
                                             a Nevada corporation,

   /s/  Ray Baptista                         By: /s/ Michael G. Todd
   -----------------                             --------------------------
        Ray Baptista                             Michael G. Todd, President

                                             LENDER:
                                             BOCA FIRST CAPITAL LLLP,
                                             a Florida limited liability limited
                                             partnership
                                             By:  Addison Capital Group, LLC,
                                                  general partner

   /s/ Allan Katz                            By: /s/ Howard Bloom
   -------------                                ---------------------
       Allan Katz                               Howard Bloom, Manager

----------

                                       14

<PAGE>

                                   EXHIBIT "A"

That  certain  revolving  line of credit  Loan  ("Line of Credit  Loan") made by
Lender to Borrower in the original  principal  amount of THREE MILLION  THOUSAND
and no/100ths DOLLARS ($3,000,000.00), which Loan is represented by a Note dated
the ___ day of April,  2002 made by Borrower in favor of Lender in the principal
amount of THREE MILLION THOUSAND and no/100ths  DOLLARS  ($3,000,000.00),  which
Line of Credit Loan is further subject to the following provisions:

1. SECURITY: The Note representing the Line of Credit Loan shall be secured by a
collateral  assignment  and  pledge  ("Stock  Pledge")  of all of the issued and
outstanding  capital  stock of Borrower's  subsidiary,  Capitol  Development  of
Arkansas,  Inc., an Arkansas  corporation ("CDA"), the form and content of which
Stock Pledge shall be acceptable to Lender. In consideration for the issuance of
the Line of Credit Loan by Lender to Borrower and as a material  inducement  for
Lender to grant  said  Line of Credit  Loan to  Borrower,  Borrower's  principal
stockholders,  Michael G. Todd and Prescott  Investment,  L.P., a Nevada limited
partnership,  and Borrower's director, Michael G. Todd, by their joinder in this
Agreement,  agree that (a) they shall use their shares Borrower,  and Michael G.
Todd, his  directorship in Borrower to vote against and to prohibit the imposing
of any mortgages,  liens or other encumbrances on the real property and/or other
assets of CDA until the Line of Credit Loan is paid in full and closed;  and (b)
they shall use their shares  Borrower,  and Michael G. Todd, his directorship in
Borrower to vote against and to prohibit any further  issuance of stock,  common
or  preferred,  by CDA until the Line of Credit Loan is paid in full and closed.
If and at such time as CDA emerges from its current Chapter 11 bankruptcy  case,
Borrower may substitute as collateral for the Note, in lieu of pledged shares of
CDA, a mortgage or mortgages  and security  agreement  upon the real property of
CDA, or a  collateral  assignment  of notes  receivable  owned by CDA,  subject,
however to the written consent of the Lender, which written consent may be based
upon  various  factors,  including,  but not  limited  to, the value of the real
property and other property  and/or notes  receivable  sought to be substituted,
the  lien  position  of the  proposed  mortgage(s),  security  agreement  and/or
collateral  assignment,   the  collectability  of  the  notes  receivable,   the
creditworthiness  of CDA and of  Borrower,  provided,  however that such consent
will not be unreasonably withheld.

2. USE OF FUNDS; INITIAL ADVANCES; LIMITATION ON SUBSEQUENT ADVANCES:

A. Use of Funds:  The funds drawn by Borrower upon the Line of Credit Loan shall
be used by Borrower  exclusively for the following purposes:  (a) those expenses
described in the 90 day budget  projection  which is Schedule H attached to that
certain  Stock  Exchange  Agreement  of even date  herewith  entered into by and
between  Michael  G.  Todd,  Prescott  Investment,  L.P.,  Howard  Bloom and Ken
Richardson; (b) payments to promissory note holders of Borrower if, and only if,
Borrower is able to negotiate with such  promissory  note holders the retirement
of their notes on terms  materially the same as those described in Schedule F of
the said Stock Exchange Agreement; (c) interest upon the Line of Credit Loan, as
it falls due; (d) acquisition costs and development costs of Borrower,  provided
that the  expenditures  for such costs and the borrowing from the Line of Credit
Loan for such  purposes are approved by the board of directors of Borrower;  and
(e)  operating  expenses of Borrower,  provided that the  expenditures  for such
costs and the  borrowing  from the Line of  Credit  Loan for such  purposes  are
approved by the board of directors of Borrower. Advances upon the Line of Credit
Loan, other than those for the purposes  described in (a) above shall be subject

                                       15
<PAGE>

to the approval of Lender,  based on additional budget projections  submitted in
writing by Borrower from time to time.

B. Initial  Advance:  Contemporaneously  with the  execution of this  Agreement,
Lender shall advance Three-Hundred  Thousand and no/100ths Dollars ($300,000.00)
upon the Line of Credit  Loan to  Borrower,  said sum to be used and  applied by
Borrower  pursuant to and in accordance with the 90 day budget  projection which
is Schedule H attached to that  certain  Stock  Exchange  Agreement of even date
herewith entered into by and between Michael G. Todd, Prescott Investment, L.P.,
Howard Bloom and Ken Richardson.

C. Limitation on Subsequent Advances: Borrower agrees to use its best efforts in
order to negotiate  with  Borrower's  promissory  note holders the retirement of
their notes on terms materially the same as those described in Schedule F of the
said Stock Exchange  Agreement.  In the event that Borrower is not successful in
negotiating  with  Borrower's  promissory  note holders the  retirement of their
notes on terms  materially the same as those described in Schedule F of the said
Stock  Exchange  Agreement,  the  Lender  will not be  obligated  to extend  any
additional  advance  upon the Line of Credit  Loan,  and  Lender  may  thereupon
terminate all further advances.

3. DEFAULT; FORBEARANCE; TERMINATION OF FORBEARANCE:

A. Default; Forbearance. If, immediately prior of at the date of the maturity of
the Note, Borrower  anticipates becoming in default upon the Note or will become
in default upon the Note or is in default upon the Note for the reason only that
Borrower  cannot pay in full and satisfy  the Note,  and if Borrower is not then
otherwise in default upon the Note (including any default upon this Agreement or
any other  agreement or instrument  securing the Note),  then,  upon  Borrower's
written  request to Lender,  Lender will forbear from any collection  activities
upon the Note and Lender will forbear from any  collection  activities  upon the
collateral  for the Note for a period of up to  eighteen  (18)  months  from the
maturity date of the Note, subject, however, to the following provisions:

1)   From and  after the  maturity  date of the Note and  continuing  thereafter
     until the Note is paid in full and  satisfied,  interest upon the Note will
     continue   to   accrue  at  the   default   rate  set  forth  in  the  Note
     (notwithstanding the forbearance described above).

2)   Interest  which  accrues  upon  the  Note  during  the  period  of any such
     forbearance  shall be payable at the time of the payment or payments of the
     outstanding  principal  amount of the Note, which payment or payments shall
     be applied as set forth in the Note.

3)   During the  period of any such  forbearance,  no further  advances shall be
     permitted under the Line of Credit Loan.

4)   Commencing  with the maturity  date of the Note and  continuing  thereafter
     during  the period of any such  forbearance  until the Note is paid in full
     and satisfied,  Borrower shall take such actions as may be necessary and/or
     desirable in order to pay in full and satisfy the Note, including,  but not
     limited  to,  selling  and  liquidating  or  arranging  for CDA to sell and
     liquidate the real  property and personal  property  assets of CDA,  and/or
     selling and liquidating  the real property and personal  property assets of
     Borrower.

                                       16
<PAGE>

5)   During  the  period of any such  forbearance,  Lender may seek and obtain a
     judgment  upon  the note  (and  the  forbearance  shall  not  apply to such
     activities).

B. Termination of Forbearance.  Notwithstanding the forbearance of Lender agreed
to above if, during the period of any such forbearance,  (a) Borrower  otherwise
defaults  upon the Note  (other than the default  with  respect to which  Lender
agreed  hereinabove  to forbear from  enforcement  and  collection of the Note),
and/or if  Borrower  defaults  upon this  Agreement  or any other  agreement  or
instrument  securing  the Note,  (b) or if any third party  commences  an action
against  Borrower or against CDA which  action  may, in the sole  discretion  of
Lender,  have the ultimate effect of jeopardizing the collateral for the Note or
the assets of CDA, or the  prospect of  repayment  of the Note  therefrom,  then
Lender  may  immediately   upon  written  notice  to  Borrower,   terminate  its
forbearance and proceed to enforce and collect the Note.

IN WITNESS  WHEREOF,  Borrower  and Lender  have  executed  this  Exhibit "A" to
Business Loan Agreement this ___ day of April, 2002.

Signed, sealed and delivered
 in the presence of:
                                             BORROWER:
                                             CAPITOL COMMUNITIES CORPORATION,
                                             a Nevada corporation,

   /s/ Ray Baptista                          By:  /s/ Michael G. Todd
   ----------------                               ---------------------
       Ray Baptista                          Michael G. Todd, President

                                             LENDER:
                                             BOCA FIRST CAPITAL LLLP,
                                             a Florida limited liability limited
                                             partnership
                                             By:  Addison Capital Group, LLC,
                                                  general partner

   /s/ E.A. Brandon-Brown                    By:  /s/ Howard Bloom
   -----------------------                        ---------------------
       E.A. Brandon-Brown                         Howard Bloom, Manager

                                     JOINDER

The  undersigned  shall and do  hereby  join into the  foregoing  business  loan
agreement  for the  purpose  only of  agreeing  to be  bound  and  abide  by the
provisions of section 1 of Exhibit "A" thereto.

                                       17
<PAGE>

Dated this 26th day of April, 2002.

                                     /s/  Michael G. Todd
                                     -----------------------------------
                                     MICHAEL G. TODD, as Stockholder and
                                     Director of Capitol Communities Corporation

                                     PRESCOTT INVESTMENT, L.P.,
                                     a Nevada limited partnership, as
                                     Stockholder of Capitol Communities
                                     Corporation
                                     By:  Granite Industries, LLC,
                                          general partner

                                          By: /s/  Michael G. Todd
                                              ----------------------------
                                          Michael G. Todd, Managing Member

                                       18EXHIBIT 10.46

     $3,000,000.00                                             April 26, 2002
                                                             Boca Raton, Florida

                                 PROMISSORY NOTE

                FOR VALUE RECEIVED,  CAPITOL COMMUNITIES  CORPORATION,  A NEVADA
     CORPORATION,  (the  "Maker")  hereby  promises  to pay to the order of BOCA
     FIRST CAPITAL LLLP, A FLORIDA LIMITED  LIABILITY  LIMITED  PARTNERSHIP (the
     "Lender"),  at 900 North Federal Highway,  Suite 410, Boca Raton, FL 33432,
     or at such other place as the holder hereof may from time to time designate
     in  writing,   the  principal  sum  of  THREE-MILLION  AND  NO/100  DOLLARS
     ($3,000,000.00),  together with interest at the rate hereinafter  specified
     on such  indebtedness as shall from time to time remain unpaid,  until paid
     in full,  such  principal and interest being payable in lawful money of the
     United  States  which shall be legal  tender in payment of all debts at the
     time of payment.
                Interest on the unpaid  principal sum  outstanding  from time to
     time shall  accrue at the initial rate of FIVE AND  THREE-QUARTERS  PERCENT
     (5.75%)  PER  ANNUM.  Effective  on the  first  business  day of the  first
     calendar quarter after the date of this Note, and on the first business day
     of each succeeding calendar quarter, the rate of interest on this Note will
     increase or decrease to a rate of one percent  (1.0%) above the Prime Rate,
     as published in The Wall Street Journal,  in effect on that date;  provided
     that such rate of interest  shall never exceed ten percent (10%) per annum.
     Interest, throughout the term of this Note shall be calculated on the basis
     of actual days elapsed divided by 360.
                This Note shall be payable in MONTHLY  INSTALLMENTS  OF INTEREST
     ONLY on the 1st day of each  calendar  month  commencing  on the 1st day of
     June, 2002, and continuing thereafter from month to month until the 1st day
     of November,  2003 whereupon the entire  outstanding  principal  balance of
     this Note  together with accrued but unpaid  interest  shall become all due
     and payable.
                All  payments  made  hereunder  shall  be  applied  first to the
     interest  accruing upon the terms of this Note, next to charges,  costs, or
     expenses then due under this Note, the Security  Agreements (as hereinafter
     defined),  or any  other  loan  documents,  and the  balance,  if  any,  to
     principal.
                If any  payment to be made by Maker to Lender  according  to the
     terms  hereof  shall be due on a  Saturday,  Sunday or other day which is a
     legal holiday under the laws of the State of Florida, the due date for such
     payment  shall be extended to the next  business day and the amount of such
     payment shall include interest accrued during such extension.
                If any payment is more than ten (10) days late,  Maker agrees to
     pay to Lender a late charge equal to five percent (5%) of the payment.
                This Note evidences a revolving  line of credit.  Advances under
     this  Note  may be  requested  orally  by  Maker  or as  provided  in  this
     paragraph.  Lender may,  but need not,  require  that all oral  requests be
     confirmed in writing.  All communications,  instructions,  or directions by
     telephone  or  otherwise  to Lender are to be directed  to Lender's  office
     shown above.  The following  party or parties are authorized as provided in
     this  paragraph to request  advances  under the line of credit until Lender
     receives  from Maker at  Lender's  address  shown above  written  notice of
     revocation of their  authority:  MICHAEL G.TODD,  Maker agrees to be liable
     for all sums either; (a) advanced in accordance with the instructions of an
     authorized  person or (b) credited to any of Maker's  accounts with Lender.
     The  unpaid  principal  balance  owing  on  this  Note at any  time  may be
     evidenced by  endorsements  on this Note or by Lender's  internal  records,
     including  daily  computer  print-outs.  Lender will have no  obligation to
     advance  funds under this Note if: (a) Maker or any guarantor is in default
     under the terms of this Note or any  agreement  that Maker or any guarantor
     has with  Lender,  including  any  agreement  made in  connection  with the
     signing of this Note;  (b) Borrower or any guarantor  ceases doing business
     or is insolvent;  (c) any guarantor seeks,  claims or otherwise attempts to
     limit,  modify or revoke  such  guarantor's  guarantee  of this Note or any
     other loan with Lender; (d) Borrower has applied funds provided pursuant to
     this Note for purposes other than those authorized by Lender; or (e) Lender
     in good faith deems itself  insecure under this Note or any other agreement
     between  Lender and  Borrower.  Notwithstanding  anything  to the  contrary
     contained in this Note,  the  outstanding  principal  balance of this Note,
     including  all  advances  hereafter  made,  shall never exceed the original
     principal amount hereof.
                This Note is secured by a  collateral  assignment  and pledge of
     the capital stock of Capitol  Development of Arkansas,  Inc. (the "Security
     Agreement")  of even date herewith  made by Maker in favor of Lender.  This
     Note is subject to the  provisions of that certain  Business Loan Agreement
                                                                               1
                                      Note

<PAGE>

     ("Loan  Agreement")  dated the date hereof and entered  into by and between
     Maker and  Lender  (including,  without  limitation,  section  3  "Default;
     Forbearance;  Termination  of  Forbearance"  of  Exhibit  "A" to  the  Loan
     Agreement).
                This  Note may be  prepaid,  in  whole  or in part,  at any time
     without  penalty.  All  prepayments  made  hereunder  shall be  applied  as
     follows: (a) first against accrued interest then due and owing; (b) next to
     amounts  expended  by Lender  to cure any  default  under  this  Note,  the
     Security  Agreements  or any other loan  documents  executed in  connection
     herewith;  (c) next to costs,  expenses, or attorneys' fees due and payable
     to Lender pursuant to this Note, the Security Agreements, or any other loan
     documents executed in connection  herewith;  and (d) thereafter against the
     principal.  The making of any  prepayment  shall not relieve Maker from the
     obligation to make the payments next due hereunder on a timely basis.
                Each and every party to this Note,  whether as Maker,  endorser,
     surety,  guarantor or otherwise  ("Obligor"),  hereby  waives all rights of
     homestead  and other  exemptions  granted  by the  constitution  or laws of
     Florida,  and further  waives  presentment,  demand,  protest and notice of
     dishonor,  notice  of  nonpayment,  notice of  protest,  and  diligence  in
     collection,  and  assents  to the  terms  hereof  and to any  extension  or
     postponement of the time for payment or any other indulgence. It is further
     specifically agreed that this Note or any part of the principal or interest
     due hereon may be renewed,  modified or extended, in whole or in part, such
     modification to include but not be limited to changes in payment  schedules
     and interest rates,  from time to time by the Note holder at the request of
     any party  bound  hereon or who has  assumed  or who may  hereafter  assume
     payment  hereof,  without the consent of or notice to other  parties  bound
     hereon and without releasing them from any liabilities then existing.
                Each and every Obligor hereby consents that the real or personal
     property securing this Note, or any part of such security, may be released,
     exchanged,  added  to or  substituted  for by  Lender,  without  in any way
     modifying,  altering,  releasing,  affecting or limiting  their  respective
     liabilities or the lien of the Security Agreement,  and further agrees that
     Lender shall not be required first to institute any suit, or to exhaust any
     of its  remedies  against or any other  person or party liable or to become
     liable  hereunder,  in order to enforce  payment of this Note,  and further
     agrees that Maker or any other party  liable  hereunder  may be released by
     Lender from any or all liability  under this Note and such release shall in
     no way affect or modify the liability of the remaining parties hereto.
                Each and every  Obligor  hereby  consents  and agrees that he is
     bound, jointly and severally,  under the terms hereof and is subject to all
     of the  provisions  set  forth  herein  as  fully  as  though  each  was an
     undersigned hereof, and further consents and agrees that any Obligor may be
     sued by Lender  without  joining any other  Obligor,  whether  primarily or
     secondarily liable.
                Notwithstanding  anything contained herein to the contrary or in
     the Security  Agreement,  or other loan  documents  executed in  connection
     herewith,  no payee or  holder  of this  Note  shall  ever be  entitled  to
     receive,  collect or apply as interest on the obligation  evidenced  hereby
     any  amount in excess  of the  maximum  rate of  interest  permitted  to be
     charged by  applicable  law and, in the event  Lender or any holder  hereof
     ever  receives,  collects,  or applies as interest  any such  excess,  such
     amount which would be excessive  interest shall be applied to the reduction
     of the  principal  sum;  and if the  principal  sum is  paid in  full,  any
     remaining  excess shall forthwith be paid to Maker. In determining  whether
     or not the interest paid or payable under any specific  contingency exceeds
     the highest  lawful rate,  Maker and Lender  shall,  to the maximum  extent
     permitted under applicable law: (a) Characterize any non-principal  payment
     as an  expense,  fee or  premium  rather  than  as  interest;  (b)  exclude
     voluntary  prepayments  and the effects  thereof;  and (c) spread the total
     amount of  interest,  or  charges in the nature of  interest,  pursuant  to
     applicable law.
                It is expressly  agreed that if any payment due hereunder is not
     made in full  within  fifteen  (15) days  after the same is due,  or if any
     default occurs in any of the Security Agreement,  the Loan Agreement, or in
     any other loan  document  executed in connection  herewith,  then or at any
     time  thereafter  at the option of Lender,  the whole of the  principal sum
     remaining unpaid  hereunder,  together will all accrued and unpaid interest
     thereon, shall become due and payable immediately without notice,  anything
     contained  therein to the contrary in any way  notwithstanding,  and in any
     such event  Lender shall have the right to set-off  against this Note,  all
     money owed by Lender in any  capacity to any  Obligor,  whether or not due,
     and Lender shall be deemed to have  exercised  such right of set-off and to
     have made a charge against any such money  immediately  upon the occurrence
     of such default although made or entered on the books  subsequent  thereto.
     From and after  acceleration  of the loan pursuant to this  paragraph,  the
     interest rate on the entire  outstanding  principal balance hereunder shall
     accrue at the  highest  rate  permitted  to be charged by  applicable  law.
     Obligor  shall  also  be  obligated  to pay  as  part  of the  indebtedness
     evidenced  by this Note,  all costs of  collection,  whether or not suit is
     brought,  including any reasonable  attorneys' fees that may be incurred in
     the collection and enforcement  hereof.  The term  "attorneys'  fees" shall
     include,  but not be limited to, any such fees incurred in any appellate or
                                                                               2
                                      Note
<PAGE>

     related  ancillary or  supplementary  proceedings,  whether before or after
     final judgment related to the enforcement or defense of this Note.
                If any time any federal,  state, county, or municipal government
     or agency thereof shall impose any documentary stamps tax,  intangible tax,
     or any other type of tax upon this Note or the Security Agreement,  or upon
     the indebtedness  evidenced hereby (other than any federal,  state or local
     income tax imposed upon Lender),  then Maker shall pay same within ten (10)
     days after  demand by Lender,  together  with any  interest  and  penalties
     thereon.
                Maker shall be in default  under this Note upon the happening of
     any of the following  events or conditions:  (a) failure or omission to pay
     when due this Note (or any installment of principal or interest  hereunder)
     or  default in the  payment or  performance  of any  obligation,  covenant,
     agreement or liability  contained or referred to in this Note, the Security
     Agreement,  the Loan  Agreement,  or any other loan  document  executed  in
     connection herewith; (b) any warranty,  representation or statement made or
     furnished to Lender to make the loan  evidenced by this Note proves to have
     been false in any material respect when made or furnished;  (c) the default
     by  Maker  in the  payment  or  performance  of any  obligation,  covenant,
     agreement,  or liability contained in any other mortgage,  note, obligation
     or agreement held by Lender; (d) the dissolution, termination of existence,
     insolvency,  or business failure of any Obligor,  appointment of a receiver
     for any part of the  property  covered by any of the  Security  Agreements,
     assignment  for  the  benefit  of  the  creditors  of any  Obligor,  or the
     commencement  of any  proceedings in bankruptcy or insolvency by or against
     any Obligor; (e) the determination by Lender that a material adverse change
     has occurred in the financial  condition of any Obligor from the conditions
     set forth in the most recent financial statement of such Obligor heretofore
     furnished to Lender or from the  condition  of such  Obligor as  heretofore
     most  recently  disclosed  to  Lender in any  manner;  (g)  falsity  in any
     material  respect of, or any  material  omission in any  representation  or
     statement made to Lender by or on behalf of any Obligor in connection  with
     the loan evidenced by this Note. Any default  hereunder shall  constitute a
     default  under any other  mortgage,  note,  obligation or agreement of each
     Obligor held by Lender.
                Time is of the essence of this Note.  The  remedies of Lender as
     provided  herein or in the Security  Agreement,  or any other loan document
     executed in connection  herewith,  shall be cumulative and concurrent,  and
     may be pursued singularly, successively or together, at the sole discretion
     of Lender,  and may be exercised as often as occasion therefor shall arise.
     No act or  omission  of  Lender,  including  specifically  any  failure  to
     exercise any right,  remedy or recourse,  shall be deemed to be a waiver or
     release of such right,  remedy or recourse and any waiver or release may be
     effected only through a written  document  executed by Lender and then only
     to the  extent  specifically  recited  therein.  A waiver or  release  with
     respect to any one event shall not be construed as  continuing as a bar to,
     or as a waiver or release of, any subsequent  right,  remedy or recourse as
     to any subsequent event.
                The term  "Lender"  where used herein  shall  include BOCA FIRST
     CAPITAL  LLLP,  A  FLORIDA  LIMITED  LIABILITY  LIMITED  PARTNERSHIP,   its
     successors and assigns.  The term "Maker" shall include each person signing
     this Note,  jointly and severally,  and their respective heirs,  successors
     and assigns. The term "Obligor" shall include Maker and every person who is
     an endorser,  guarantor or surety of this Note, or who is otherwise a party
     hereto,  and their  respective,  heirs,  successors and assigns.  The terms
     "person" and "party": shall include individuals, firms, associations, joint
     ventures,  partnerships,  estates,  trusts,  business  trusts,  syndicates,
     fiduciaries,  corporations, and all other groups or combinations. This Note
     shall be governed by and construed in accordance  with laws of the State of
     Florida.
                IN  WITNESS  WHEREOF,  Maker  has  caused  this  Note to be duly
     executed and delivered as of the day and year first above written.

                                               CAPITOL COMMUNITIES CORPORATION,
                                               a Nevada corporation,

                                               By: /s/  Michael G. Todd
                                                   --------------------
                                               Michael G. Todd, President

                                                  (Corporate Seal)

                                                                               3
                                      Note

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