Document:

STANDARD OFFER, AGREEMENT AND ESCROW
                    INSTRUCTIONS FOR PURCHASE OF REAL ESTATE
                                (Non-Residential)
                   American Industrial Real Estate Association
                                                          October 23, 2000
                                                          ----------- ----
                                                        (Date for Reference
                                                              Purposes)
1. Buyer.
    1.1 Jean Francios Hope , ( "Buyer") hereby offers to purchase the real
property, hereinafter described, from the owner thereof ("Seller")
(collectively, the "Parties" or individually" a "Party"), through an escrow
("Escrow") to close on or before December 20, 2000("Expected Closing Date") to
be held by Commonwealth Land Title Company, Attn. Marie Berry ("Escrow Holder")
whose address is 1455 Frazee Road, San Diego, CA 92108, Phone No. (619) 686-2126
Facsimile No. (619) 220-5684 upon the terms and conditions set forth in this
agreement ("Agreement"). Buyer shall have the right to assign Buyer's rights
hereunder, but any such assignment shall not relieve Buyer of Buyer's
obligations herein unless Seller expressly releases Buyer.
    1.2 The term "Date of Agreement" as used herein shall be the date when by
execution and delivery (as defined in paragraph 20.2) of this document or a
subsequent counter-offer thereto, Buyer and Seller have reached agreement in
writing whereby Seller agrees to sell, and Buyer agrees to purchase, the
Property upon terms accepted by both Parties.
2. Property.

     2.1 The  real  property  ("Property")  that is the  subject  of this  offer
consists of (insert a brief physical description) An approximately 44,300 square
foot  concrete  building/warehouse,  bowling  alley  with  kitchen,  office  and
showroom  is  located  in the City of El Cajon,  County of San  Diego,  State of
California, is commonly known by the street address of 165 Denny Way, El Cal on,
CA 92020 and is legally described as: (APN:387-121-44)o

     2.2  If the  legal  description  of the  Property  is  not  complete  or is
inaccurate,  this Agreement shall not be invalid and the legal description shall
be  completed  or corrected  to meet the  requirements  of United Title  Company
("Title Company"), which shall issue the title policy hereinafter described.

    2.3 The Property includes, at no additional cost to Buyer, the permanent
improvements thereon, including those items which the law of the state in which
the Property is located provides is part of the Property, as well as the
following items, if any, owned by Seller and at present located on the Property:
electrical distribution systems (power panel, buss ducting, conduits,
disconnects, lighting fixtures); telephone distribution systems (lines, jacks
and connections only); space heaters; heating; ventilating; air conditioning
equipment ("HVAC"); air lines; fire sprinkler systems; security and fire
detection systems; carpets; window coverings; wall coverings; and All attached
fixtures except bowling alley mechanical fixtures associated with the bowling
mechanical aperatis. (collectively, the "Improvements").
    2.4 Within the time period specified in paragraph 9.1(a), Seller and/or
Seller's Broker shall make to Buyer, through escrow, all of the applicable
disclosures required by law (See American Industrial Real Estate Association
("AIR") standard form entitled "Seller's Mandatory Disclosure Statement"). 3.
Purchase Price.
3.1 The purchase price ("Purchase Price") to be paid by Buyer to Seller for the
Property shall be $2,215,000.00, payable as follows:

   (a)   Cash down payment, including the Deposit as defined in
         paragraph 4.3 (or if an all cash transaction, the
         Purchase Price):........................................   $221,500.00

    (b) Amount of "New Loan" as defined in paragraph 5.1, if any: $1,993,500.00
                                                                  -------------
       Total Purchase Price                                       $2,215,000.00
                                                                  -------------

4. Deposits.
    4.1 Buyer hereby delivers a check in the sum of $ 15,000.00, payable to
Escrow Holder, to be held uncashed until the Date of Agreement. Such check shall
be deposited in accordance with paragraph 4.3 and applied toward the Purchase
Price of the Property at the Closing. Should Buyer and Seller not enter into an
agreement for purchase and sale, Buyer's check or funds shall, upon request by
Buyer, be promptly returned to Buyer.
    4.2 Additional deposits:
        (a) Within 5 (1) business days after the Date of Agreement, Buyer shall
deposit with Escrow Holder the additional sum of $15,000.00 to be applied to the
Purchase Price at the Closing. (b) Within 5 (1) business days after the
contingencies discussed in paragraph 9.1 (a) through (k) are approved or waived,
Buyer shall deposit with Escrow Holder the additional sum of $60, 000. 00 to be
applied to the Purchase Price at the Closing.
    4.3 Escrow Holder shall deposit the funds deposited with it by Buyer
pursuant to paragraphs 4.1 and 4.2 (collectively the "Deposit"), in a State or
Federally chartered bank in an interest bearing account whose term is
appropriate and consistent with the timing requirements of this transaction. The
interest therefrom shall accrue to the benefit of Buyer, who hereby acknowledges
that there may be penalties or interest forfeitures if the applicable instrument
is redeemed prior to its specified maturity. Buyer's Federal Tax Identification
Number is . NOTE: Such interest bearing account cannot be opened until Buyer's
Federal Tax Identification Number is provided.

5. Financing Contingency. (Strike if not applicable)
    5.1 This offer is contingent upon Buyer obtaining from an insurance company,
financial institution or other lender, a commitment to lend to Buyer a sum not
less than $1, 993, 500. 00, at terms reasonably acceptable to Buyer. Such loan
("New Loan") shall be secured by a first trust upon the Property. If this
Agreement provides for Seller to carry back junior financing, then Seller shall
have the right to approve the terms of the New Loan. Seller shall have 7 days
from receipt of the commitment setting forth the proposed terms of the New Loan
to approve or disapprove of such proposed terms. If Seller fails to notify
Escrow Holder, in writing, of the disapproval within said 7 days it shall be
conclusively presumed that Seller has approved the terms of the New Loan.
5.2 Buyer hereby agrees to diligently pursue obtaining the New Loan. If Buyer
shall fail to notify its Broker, Escrow Holder and Seller, in writing within 30
days following the Date of Agreement, that the New Loan has not been obtained,
it shall be conclusively presumed that Buyer has either obtained said New Loan
or has waived this New Loan contingency.
    5.3 If, after due diligence, Buyer shall notify its Broker, Escrow Holder
and Seller, in writing, within the time specified in paragraph 5.2 hereof, that
Buyer has not obtained said New Loan, this Agreement shall be terminated, and
Buyer shall be entitled to the prompt return of the Deposit, plus any interest
earned thereon, less only Escrow Holder and Title Company cancellation fees and
costs, which Buyer shall pay.

6. Deleted

7. Real Estate Brokers.

    7.1 The following real estate broker(s) ("Brokers") and brokerage
relationships exist in this transaction and are consented to by the Parties
(check the applicable boxes):

            S.D. Commercial Real Estate Services represents
                  Seller exclusively ("Seller's Broker");
            Jeff Taich represents Buyer exclusively ("Buyer's Broker"); or
            N/A represents both Seller and Buyer ("Dual Agency").

The Parties acknowledge that Brokers are the procuring cause of this Agreement.
See paragraph 24 for disclosures regarding the nature of a real estate agency
relationship. Buyer shall use the services of Buyer's Broker exclusively in
connection with any and all negotiations and offers with respect to the property
described in paragraph 2.1 for a period of one year from the date above.

    7.2 Buyer and Seller each represent and warrant to the other that he/she/it
has had no dealings with any person, firm, broker or finder in connection with
the negotiation of this Agreement and/or the consummation of the purchase and
sale contemplated herein, other than the Brokers named in paragraph 7.1, and no
broker or other person, firm or entity, other than said Brokers is/are entitled
to any commission or finder's fee in connection with this transaction as the
result of any dealings or acts of such Party. Buyer and Seller do each hereby
agree to indemnify, defend, protect and hold the other harmless from and against
any costs, expenses or liability for compensation, commission or charges which
may be claimed by any broker, finder or other similar party, other than said
named Brokers by reason of any dealings or act of the indemnifying Party.

8. Escrow and Closing.
8.1 Upon acceptance hereof by Seller, this Agreement, including any
counter-offers incorporated herein by the Parties, shall constitute not only the
agreement of purchase and sale between Buyer and Seller, but also instructions
to Escrow Holder for the consummation of the Agreement through the Escrow.
Escrow Holder shall not prepare any further escrow instructions restating or
amending the Agreement unless specifically so instructed by the Parties or a
Broker herein. Subject to the reasonable approval of the Parties, Escrow Holder
may, however, include its standard general escrow provisions.
8.2 As soon as practical after the receipt of this Agreement and any relevant
counter-offers, Escrow Holder shall ascertain the Date of Agreement as defined
in paragraphs 1.2 and 20.2 and advise the Parties and Brokers, in writing, of
the date ascertained.
    8.3 Escrow Holder is hereby authorized and instructed to conduct the Escrow
in accordance with this Agreement, applicable law and custom and practice of the
community in which Escrow Holder is located, including any reporting
requirements of the Internal Revenue Code. In the event of a conflict between
the law of the state where the Property is located and the law of the state
where the Escrow Holder is located, the law of the state where the Property is
located shall prevail.
    8.4 Subject to satisfaction of the contingencies herein described, Escrow
Holder shall close this escrow (the "Closing") by recording a general warranty
deed (a grant deed in California) and the other documents required to be
recorded, and by disbursing the funds and documents in accordance with this
Agreement.
    8.5 Buyer and Seller shall each pay one-half of the Escrow Holder's charges
and Seller shall pay the usual recording fees and any required documentary
transfer taxes. Seller shall pay the premium for a standard coverage owner's or
joint protection policy of title insurance.
    8.6 Escrow Holder shall verify that all of Buyer's contingencies have been
satisfied or waived prior to Closing. The matters contained in paragraphs 9.1
subparagraphs (b), (c), (d), (e), (g), (i), (n), and (o), 9.4, 9.5, 12, 13, 14,
16, 18, 20, 21, 22, and 24 are, however, matters of agreement between the
Parties only and in no way constitute instructions to Escrow Holder.
  8.7 f this transaction is terminated for non-satisfaction and non-waiver of a
  Buyer's Contingency, as defined in paragraph 9.2, then neither of the Parties
  shall thereafter have any liability to the other under this Agreement, except
  to the extent of the breach of any affirmative covenant or warranty in this
  Agreement. In the event of such termination, Buyer shall be promptly refunded
  all funds deposited by Buyer with Escrow Holder, less only Title Company and
  Escrow Holder cancellation fees and costs, all of which shall be Buyer's
  obligation.
8.8 The Closing shall occur on the Expected Closing Date.
    8.9 Except as otherwise provided herein, the termination of Escrow shall not
relieve or release either Party from any obligation to pay Escrow Holder's fees
and costs or constitute a waiver, release or discharge of any breach or default
that has occurred in the performance of the obligations, agreements, covenants
or warranties contained therein.
    8.10 If this Escrow is terminated for any reason other than Seller's breach
or default, then at Seller's request, and as a condition to the return of
Buyer's deposit, Buyer shall within 5 days after written request deliver to
Seller, at no charge, copies of all surveys, engineering studies, soil reports,
maps, master plans, feasibility studies and other similar items prepared by or
for Buyer that pertain to the Property. Provided, however, that Buyer shall not
be required to deliver any such report if the written contract which Buyer
entered into with the consultant who prepared such report specifically forbids
the dissemination of the report to others. 9. Contingencies to Closing.
    9.1 The Closing of this transaction is contingent upon the satisfaction or
waiver of the following contingencies. IF BUYER FAILS TO NOTIFY ESCROW HOLDER,
IN WRITING, OF THE DISAPPROVAL OF ANY OF SAID CONTINGENCIES WITHIN THE TIME
SPECIFIED THEREIN, IT SHALL BE CONCLUSIVELY PRESUMED THAT BUYER HAS APPROVED
SUCH ITEM, MATTER OR DOCUMENT. Buyer's conditional approval shall constitute
disapproval, unless provision is made by the Seller within the time specified
therefore by the Buyer in such conditional approval or by this Agreement,
whichever is later, for the satisfaction of the condition imposed by the Buyer.
Escrow Holder shall promptly provide all Parties with copies of any written
disapproval or conditional approval which it receives. With regard to
subparagraphs (a) through (I) the pre-printed time periods shall control unless
a different number of days is inserted in the spaces provided.
        (a) Disclosure. Seller shall disclose to Buyer any matters required by
applicable law (see paragraph 2.4) and provide Buyer with a completed Property
Information Sheet ("Property Information Sheet") concerning the Property, duly
executed by or on behalf of Seller in the current form or equivalent to that
published by the AIR within 5 days following the Date of Agreement. Buyer has 10
days from the receipt of said disclosures to approve or disapprove the matters
disclosed.
        (b) Physical Inspection. Buyer has 10 days from the receipt of the
Property Information Sheet or the Date of Agreement, whichever is later, to
satisfy itself with regard to the physical aspects and size of the Property.
        (c) Hazardous Substance Conditions Report. Buyer has 15 days from the
Date of Agreement, whichever is later, to satisfy itself with regard to the
environmental aspects of the Property. Seller recommends that Buyer obtain a
Hazardous Substance Conditions Report concerning the Property and relevant
adjoining properties. Any such report shall be paid for by Buyer. A "Hazardous
Substance" for purposes of this Agreement is defined as any substance whose
nature and/or quantity of existence, use, manufacture, disposal or effect,
render it subject to Federal, state or local regulation, investigation,
remediation or removal as potentially injurious to public health or welfare. A
"Hazardous Substance Condition" for purposes of this Agreement is defined as the
existence on, under or relevantly adjacent to the Property of a Hazardous
Substance that would require remediation and/or removal under applicable
Federal, state or local law.
        (d) Soil Inspection. Buyer has 15 days from the Date of Agreement,
whichever is later, to satisfy itself with regard to the condition of the soils
on the Property. Seller recommends that Buyer obtain a soil test report. Any
such report shall be paid for by Buyer. Seller shall provide Buyer copies of any
soils report that Seller may have within 49 (5) days of the Date of Agreement.
        (e) Governmental Approvals. Buyer has 15 days from the Date of Agreement
to satisfy itself with regard to approvals and permits from governmental
agencies or departments which have or may have jurisdiction over the Property
and which Buyer deems necessary or desirable in connection with its intended use
of the Property, including, but not limited to, permits and approvals required
with respect to zoning, planning, building and safety, fire, police, handicapped
and Americans with Disabilities Act requirements, transportation and
environmental matters.
        (f) Conditions of Title. Escrow Holder shall cause a current commitment
for title insurance ("Title Commitment") concerning the Property issued by the
Title Company, as well as legible copies of all documents referred to in the
Title Commitment ("Underlying Documents") to be delivered to Buyer within 5 days
following the Date of Agreement. Buyer has 10 days from the receipt of the Title
Commitment and Underlying Documents to satisfy itself with regard to the
condition of title. The disapproval of Buyer of any monetary encumbrance, which
by the terms of this Agreement is not to remain against the Property after the
Closing, shall not be considered a failure of this contingency, as Seller shall
have the obligation, at Seller's expense, to satisfy and remove such disapproved
monetary encumbrance at or before the Closing.
        (g) Survey. Buyer has 15 days from the receipt of the Title Commitment
and Underlying Documents to satisfy itself with regard to any ALTA title
supplement based upon a survey prepared to American Land Title Association
("ALTA") standards for an owner's policy by a licensed surveyor, showing the
legal description and boundary lines of the Property, any easements of record,
and any improvements, poles, structures and things located within 10 feet of
either side of the Property boundary lines. Any such survey shall be prepared at
Buyer's direction and expense. If Buyer has obtained a survey and approved the
ALTA title supplement, Buyer may elect within the period allowed for Buyer's
approval of a survey to have an ALTA extended coverage owner's form of title
policy, in which event Buyer shall pay any additional premium attributable
thereto.
        (h) Existing Leases and Tenancy Statements. Seller shall within 5 days
of the Date of Agreement provide both Buyer and Escrow Holder with legible
copies of all leases, subleases or rental arrangements (collectively, "Existing
Leases") affecting the Property, and with a tenancy statement ("Estoppel
Certificate") in the latest form or equivalent to that published by the AIR,
executed by Seller and/or each tenant and subtenant of the Property. Seller
shall use its best efforts to have each tenant complete and execute an Estoppel
Certificate. If any tenant fails or refuses to provide an Estoppel Certificate
then Seller shall complete and execute an Estoppel Certificate for that tenancy.
Buyer has 10 days from the receipt of said Existing Leases and Estoppel
Certificates to satisfy itself with regard to the Existing Leases and any other
tenancy issues.
        (i) Other Agreements. Seller shall within 5 days of the Date of
Agreement provide Buyer with legible copies of all other agreements ("Other
Agreements") known to Seller that will affect the Property after Closing. Buyer
has 10 days from the receipt of said Other Agreements to satisfy itself with
regard to such Agreements.
        (j) Financing. If paragraph 5 hereof dealing with a financing
contingency has not been stricken, the satisfaction or waiver of such New Loan
contingency.
        (k) Deleted
        (I) Personal Property. In the event that any personal property is
included in the Purchase Price, Buyer has 10 days from the Date of Agreement to
satisfy itself with regard to the title condition of such personal property.
Seller recommends that Buyer obtain a UCC-1 report. Any such report shall be
paid for by Buyer. Seller shall provide Buyer copies of any liens or
encumbrances affecting such personal property that it is aware of within 10 days
of the Date of Agreement.
        (m) Destruction, Damage or Loss. There shall not have occurred prior to
the Closing, a destruction of, or damage or loss to, the Property or any portion
thereof, from any cause whatsoever, which would cost more than $10,000.00 to
repair or cure. If the cost of repair or cure is $10,000.00 or less, Seller
shall repair or cure the loss prior to the Closing. Buyer shall have the option,
within 10 days after receipt of written notice of a loss costing more than
$10,000.00 to repair or cure, to either terminate this transaction or to
purchase the Property notwithstanding such loss, but without deduction or offset
against the Purchase Price. If the cost to repair or cure is more than
$10,000.00, and Buyer does not elect to terminate this transaction, Buyer shall
be entitled to any insurance proceeds applicable to such loss. Unless otherwise
notified in writing, Escrow Holder shall assume no such destruction, damage or
loss has occurred prior to Closing.
        (n) Material Change. Buyer shall have 10 days following receipt of
written notice of a Material Change within which to satisfy itself with regard
to such change. "Material Change" shall mean a change in the status of the use,
occupancy, tenants, or condition of the Property that occurs after the date of
this offer)and prior to the Closing. Unless otherwise notified in writing,
Escrow Holder shall assume that no Material Change has occurred prior to the
Closing.

     (o)  Seller  Performance.  The  delivery  of  all  documents  and  the  due
performance  by  Seller  of each  and  every  undertaking  and  agreement  to be
performed by Seller under this Agreement.

       (p) Warranties. That each representation and warranty of Seller herein be
true and correct as of the Closing. Escrow Holder shall assume that this
condition has been satisfied unless notified to the contrary in writing by any
Party prior to the Closing.
        (q) Brokerage Fee. Payment at the Closing of such brokerage fee as is
specified in this Agreement or later written instructions to Escrow Holder
executed by Seller and Brokers ("Brokerage Fee"). It is agreed by the Parties
and Escrow Holder that Brokers are a third party beneficiary of this Agreement
insofar as the Brokerage Fee is concerned, and that no change shall be made with
respect to the payment of the Brokerage Fee specified in this Agreement, without
the written consent of Brokers.
    9.2 All of the contingencies specified in subparagraphs (a) through (p) of
paragraph 9.1 are for the benefit of, and may be waived by, Buyer, and may be
elsewhere herein referred to as "Buyer Contingencies." 9.3 If any Buyer's
Contingency or any other matter subject to Buyer's approval is disapproved as
provided for herein in a timely manner ("Disapproved Item"), Seller shall have
the right within (5) days following the receipt of notice of Buyer's disapproval
to elect to cure such Disapproved Item prior to the Expected Closing Date
("Seller's Election"). Seller's failure to give to Buyer within said (5) day
period, written notice of Seller's commitment to cure such Disapproved Item on
or before the Expected Closing Date shall be conclusively presumed to be
Seller's Election not to cure such Disapproved Item. If Seller elects, either by
written notice or failure to give written notice, not to cure a Disapproved
Item, Buyer shall have the election, within (5) days after Seller's Election to
either accept title to the Property subject to such Disapproved Item, or to
terminate this transaction. Buyer's failure to notify Seller in writing of
Buyer's election to accept title to the Property subject to the Disapproved Item
without deduction or offset shall constitute Buyer's election to terminate this
transaction. Unless expressly provided otherwise herein, Seller's right to cure
shall not apply to the remediation of Hazardous Substance Conditions or to the
Financing Contingency. Unless the Parties mutually instruct otherwise, if the
time periods for the satisfaction of contingencies or for Seller's and Buyer's
said Elections would expire on a date after the Expected Closing Date, the
Expected Closing Date shall be deemed extended to coincide with the expiration
of 3 business days following the expiration of: (a) the applicable contingency
period(s), (b) the period within which the Seller may elect to cure the
Disapproved Item, or (c) if Seller elects not to cure, the period within which
Buyer may elect to proceed with this transaction, whichever is later.
    9.4 Buyer understands and agrees that until such time as all Buyer's
Contingencies have been satisfied or waived, Seller and/or its agents may
solicit, entertain and/or accept back-up offers to purchase the subject
Property.
    9.5 The Parties acknowledge that extensive local, state and Federal
legislation establish broad liability upon owners and/or users of real property
for the investigation and remediation of Hazardous Substances. The determination
of the existence of a Hazardous Substance Condition and the evaluation of the
impact of such a condition are highly technical and beyond the expertise of
Brokers. The Parties acknowledge that they have been advised by Brokers to
consult their own technical and legal experts with respect to the possible
presence of Hazardous Substances on this Property or adjoining properties, and
Buyer and Seller are not relying upon any investigation by or statement of
Brokers with respect thereto. The Parties hereby assume all responsibility for
the impact of such Hazardous Substances upon their respective interests herein.
10. Documents Required at or before Closing:
    10.1 Five days prior to the Closing date Escrow Holder shall obtain an
updated Title Commitment concerning the Property from the Title Company and
provide copies thereof to each of the Parties.
10.2 Seller shall deliver to Escrow Holder in time for delivery to Buyer at the
Closing, an original ink signed:

     (a)___Grant or general warranty deed, duly executed and in recordable form,
          conveying fee title to the Property to Buyer.

     (b)  Deleted

     (c)  If applicable,  the Existing Leases and Other Agreements together with
          duly executed  assignments thereof by Seller and Buyer. The assignment
          of  Existing  Leases  shall  be on  the  most  recent  Assignment  and
          Assumption of Lessor's  Interest in Lease form published by the AIR or
          its equivalent.

     (d)  If  applicable,  Estoppel  Certificates  executed by Seller and/or the
          tenant(s) of the Property.

     (e)  An  affidavit  executed  by Seller to the effect  that Seller is not a
          "foreign  person" within the meaning of Internal  Revenue Code Section
          1445 or successor statutes.  If Seller does not provide such affidavit
          in form  reasonably  satisfactory  to Buyer at least 3  business  days
          prior to the Closing,  Escrow Holder shall at the Closing  deduct from
          Seller's proceeds and remit to Internal Revenue Service such sum as is
          required by  applicable  Federal law with  respect to  purchases  from
          foreign sellers.

     (f)  If the Property is located in  California,  an  affidavit  executed by
          Seller to the effect  that  Seller is not a  "nonresident"  within the
          meaning of California  Revenue and Tax Code Section 18662 or successor
          statutes. If Seller does not provide such affidavit in form reasonably
          satisfactory  to Buyer  at  least  three  business  days  prior to the
          Closing,  Escrow  Holder  shall at the Closing  deduct  from  Seller's
          proceeds and remit to the  Franchise Tax Board such sum as is required
          by such statute.

     (g)  If applicable,  a bill of sale, duly executed,  conveying title to any
          included personal property to Buyer.

     (h)  If the Seller is a corporation,  a duly executed corporate  resolution
          authorizing  the  execution  of this  Agreement  and  the  sale of the
          Property.

     10.3 Buyer shall deliver to Seller through Escrow:

          (a) The cash portion of the Purchase Price and such additional sums as
     are required of Buyer under this  Agreement  for  prorations,  expenses and
     adjustments.  The  balance  of the  cash  portion  of the  Purchase  Price,
     including  Buyer's Escrow charges and other cash charges,  if any, shall be
     deposited by Buyer with Escrow Holder,  by federal funds wire transfer,  or
     any other method  acceptable  to Escrow Holder as  immediately  collectable
     funds,  no later than 2:00 P.M. on the  business  day prior to the Expected
     Closing Date.

          (b) If a  Purchase  Money  Note and  Purchase  Money Deed of Trust are
     called  for by  this  Agreement,  the  duly  executed  originals  of  those
     documents,  the  Purchase  Money Deed of Trust  being in  recordable  form,
     together with evidence of fire insurance on the  improvements in the amount
     of the full  replacement cost naming Seller as a mortgage loss payee, and a
     real estate tax service contract (at Buyer's  expense),  assuring Seller of
     notice of the status of payment of real  property  taxes during the life of
     the Purchase Money Note.

          (c) The Assignment  and Assumption of Lessor's  Interest in Lease form
     specified in paragraph 10.2(c) above, duly executed by Buyer.

          (d)  Assumptions  duly executed by Buyer of the  obligations of Seller
     that accrue after Closing under any Other Agreements.  (e) If applicable, a
     written  assumption  duly  executed  by Buyer of the  loan  documents  with
     respect to Existing Notes.

          (f)  If  the  Buyer  is  a  corporation,  a  duly  executed  corporate
     resolution  authorizing the execution of this Agreement and the purchase of
     the Property.

    10.4 At Closing, Escrow Holder shall cause to be issued to Buyer a standard
coverage (or ALTA extended, if elected under paragraph 9.1(g)) owner's form
policy of title insurance effective as of the Closing, issued by the Title
Company in the full amount of the Purchase Price, insuring title to the Property
vested in Buyer, subject only to the exceptions approved by Buyer. In the event
there is a Purchase Money Deed of Trust in this transaction, the policy of title
insurance shall be a joint protection policy insuring both Buyer and Seller.

IMPORTANT: IN A PURCHASE OR EXCHANGE OF REAL PROPERTY, IT MAY BE ADVISABLE TO
OBTAIN TITLE INSURANCE IN CONNECTION WITH THE CLOSE OF ESCROW SINCE THERE MAY BE
PRIOR RECORDED LIENS AND ENCUMBRANCES WHICH AFFECT YOUR INTEREST IN THE PROPERTY
BEING ACQUIRED. A NEW POLICY OF TITLE INSURANCE SHOULD BE OBTAINED IN ORDER TO
ENSURE YOUR INTEREST IN THE PROPERTY THAT YOU ARE ACQUIRING.

  11. Prorations and Adjustments.

          11.1 Taxes.  Real property taxes and special  assessment bonds payable
     by the owner of the  Property  shall be prorated  through  Escrow as of the
     date of the Closing, based upon the latest tax bill available.  The Parties
     agree to prorate as of the Closing any taxes assessed  against the Property
     by  supplemental  bill  levied by reason of events  occurring  prior to the
     Closing.  Payment  shall be made promptly in cash upon receipt of a copy of
     any such  supplemental  bill of the amount  necessary  to  accomplish  such
     proration.

          11.2  Insurance.   WARNING:   The  insurance   coverage  which  Seller
     maintained on the Property will terminate on the Closing.  Buyer is advised
     to obtain appropriate insurance to cover the Property.

          11.3 Rentals,  Interest and Expenses.  Collected rentals,  interest on
     Existing Notes,  utilities,  and operating expenses shall be prorated as of
     the  date  of  Closing.  The  Parties  agree  to  promptly  adjust  between
     themselves outside of Escrow any rents received after the Closing.

          11.4 Security Deposit. Security Deposits held by Seller shall be given
     to Buyer as a credit to the cash required of Buyer at the Closing.

          11.5  Post  Closing  Matters.  Any  item  to be  prorated  that is not
     determined or determinable at the Closing shall be promptly adjusted by the
     Parties by appropriate  cash payment  outside of the Escrow when the amount
     due is determined.

          11.6 Deleted

          11.7 Variations in New Loan Balance. In the event Buyer is obtaining a
     New Loan and in the event that the amount of the New Loan actually obtained
     is greater than the amount set forth in paragraph 5.1 hereof,  the Purchase
     Money Note, if one is called for in this  transaction,  shall be reduced by
     the excess of the actual  face  amount of the New Loan over such  amount as
     designated in paragraph 5.1 hereof.

12. Representation and Warranties of Seller and Disclaimers.
    12.1 Seller's warranties and representations shall survive the Closing and
delivery of the deed for a period of three years, and, are true, material and
relied upon by Buyer and Brokers in all respects. Seller hereby makes the
following warranties and representations to Buyer and Brokers:

          (a)  Authority of Seller.  Seller is the owner of the Property  and/or
     has the full right,  power and  authority to sell,  convey and transfer the
     Property to Buyer as provided herein,  and to perform Seller's  obligations
     hereunder.

          (b)  Maintenance  During  Escrow and  Equipment  Condition At Closing.
     Except as  otherwise  provided in  paragraph  9.1(m)  hereof,  Seller shall
     maintain the Property until the Closing in its present condition,  ordinary
     wear and tear excepted.  The HVAC, plumbing,  elevators,  loading doors and
     electrical  systems shall be in good  operating  order and condition at the
     time of Closing.

          (c)  Hazardous  Substances/Storage  Tanks.  Seller  has no  knowledge,
     except as  otherwise  disclosed  to Buyer in writing,  of the  existence or
     prior  existence on the  Property of any  Hazardous  Substance,  nor of the
     existence or prior existence of any above or below ground storage tank.

          (d) Compliance.  Seller has no knowledge of any aspect or condition of
     the Property which violates applicable laws, rules,  regulations,  codes or
     covenants,  conditions or  restrictions,  or of improvements or alterations
     made to the  Property  without a permit where one was  required,  or of any
     unfulfilled  order or directive of any  applicable  governmental  agency or
     casualty  insurance  company  requiring  any  investigation,   remediation,
     repair, maintenance or improvement be performed on the Property.

          (e)  Changes in  Agreements.  Prior to the  Closing,  Seller  will not
     violate or modify any Existing Lease or Other Agreement,  or create any new
     leases or other agreements affecting the Property,  without Buyer's written
     approval, which approval will not be unreasonably withheld.

          (f)  Possessory  Rights.  Seller has no knowledge that anyone will, at
     the  Closing,  have any  right to  possession  of the  Property,  except as
     disclosed by this Agreement or otherwise in writing to Buyer.

          (g)  Mechanics'  Liens.   There  are  no  unsatisfied   mechanics'  or
     materialmens' lien rights concerning the Property.

          (h)  Actions,  Suits or  Proceedings.  Seller has no  knowledge of any
     actions,  suits or proceedings pending or threatened before any commission,
     board, bureau, agency, arbitrator,  court or tribunal that would affect the
     Property or the right to occupy or utilize same.

          (i) Notice of Changes.  Seller will promptly  notify Buyer and Brokers
     in writing of any Material  Change (see  paragraph  9.1(n))  affecting  the
     Property that becomes known to Seller prior to the Closing.

          (j)  No  Tenant  Bankruptcy  Proceedings.  Seller  has  no  notice  or
     knowledge that any tenant of the Property is the subject of a bankruptcy or
     insolvency proceeding.

          (k) No Seller Bankruptcy  Proceedings.  Seller is not the subject of a
     bankruptcy, insolvency or probate proceeding.

          (I) Personal  Property.  Seller has no knowledge  that anyone will, at
     the Closing, have any right to possession of any personal property included
     in the Purchase Price nor knowledge of any liens or encumbrances  affecting
     such personal property,  except as disclosed by this Agreement or otherwise
     in writing to Buyer.

     12.2 Buyer hereby acknowledges that, except as otherwise stated in this
Agreement, Buyer is purchasing the Property in its existing condition and will,
by the time called for herein, make or have waived all inspections of the
Property Buyer believes are necessary to protect its own interest in, and its
contemplated use of, the Property. The Parties acknowledge that, except as
otherwise stated in this Agreement, no representations, inducements, promises,
agreements, assurances, oral or written, concerning the Property, or any aspect
of the occupational safety and health laws, Hazardous Substance laws, or any
other act, ordinance or law, have been made by either Party or Brokers, or
relied upon by either Party hereto.
    12.3 In the event that Buyer learns that a Seller representation or warranty
might be untrue prior to the Closing, and Buyer elects to purchase the Property
anyway then, and in that event, Buyer waives any right that it may have to bring
an action or proceeding against Seller or Brokers regarding said representation
or warranty.
     12.4 Any environmental reports, soils reports, surveys, and other similar
documents which were prepared by third party consultants and provided to Buyer
by Seller or Seller's representatives, have been delivered as an accommodation
to Buyer and without any representation or warranty as to the sufficiency,
accuracy, completeness, and/or validity of said documents, all of which Buyer
relies on at its own risk. Seller believes said documents to be accurate, but
Buyer is advised to retain appropriate consultants to review said documents and
investigate the Property.

13. Possession. See Addendum, Paragraph 27

14. Buyer's Entry.
At any time during the Escrow period, Buyer, and its agents and representatives,
shall have the right at reasonable times and subject to rights of tenants, to
enter upon the Property for the purpose of making inspections and tests
specified in this Agreement. No destructive testing shall be conducted, however,
without Seller's prior approval which shall not be unreasonably withheld.
Following any such entry or work, unless otherwise directed in writing by
Seller, Buyer shall return the Property to the condition it was in prior to such
entry or work, including the recompaction or removal of any disrupted soil or
material as Seller may reasonably direct. All such inspections and tests and any
other work conducted or materials furnished with respect to the Property by or
for Buyer shall be paid for by Buyer as and when due and Buyer shall indemnify,
defend, protect and hold harmless Seller and the Property of and from any and
all claims, liabilities, losses, expenses (including reasonable attorneys'
fees), damages, including those for injury to person or property, arising out of
or relating to any such work or materials or the acts or omissions of Buyer, its
agents or employees in connection therewith.

15. Further Documents and Assurances.
The Parties shall each, diligently and in good faith, undertake all actions and
procedures reasonably required to place the Escrow in condition for Closing as
and when required by this Agreement. The Parties agree to provide all further
information, and to execute and deliver all further documents, reasonably
required by Escrow Holder or the Title Company.

16. Attorneys' Fees.
If any Party or Broker brings an action or proceeding (including arbitration)
involving the Property, to enforce the terms hereof, or to declare rights
hereunder, the Prevailing Party (as hereafter defined) in any such proceeding,
action, or appeal thereon, shall be entitled to reasonable attorneys' fees. Such
fees may be awarded in the same suit or recovered in a separate suit, whether or
not such action or proceeding is pursued to decision or judgment. The term
"Prevailing Party" shall include, without limitation, a Party or Broker who
substantially obtains or defeats the relief sought, as the case may be, whether
by compromise, settlement, judgment, or the abandonment by the other Party or
Broker of its claim or defense. The attorneys' fees award shall not be computed
in accordance with any court fee schedule, but shall be such as to fully
reimburse all attorneys' fees reasonably incurred.

17. Prior Agreements/Amendments.
      17.1  This Agreement supersedes any and all prior agreements between
            Seller and Buyer regarding the Property.
      17.2  Amendments to this Agreement are effective only if made in writing
            and executed by Buyer and Seller.

18. Broker's Rights.

          18.1 If this sale is not  consummated due to the default of either the
     Buyer or Seller,  the defaulting  Party shall be liable to and shall pay to
     Brokers the  Brokerage  Fee that Brokers  would have  received had the sale
     been  consummated.  If  Buyer  is the  defaulting  party,  payment  of said
     Brokerage Fee is in addition to any  obligation  with respect to liquidated
     or other damages.

          18.2 Upon the Closing,  Brokers are  authorized to publicize the facts
     of this transaction.

19. Notices.

          19.1 Whenever any Party,  Escrow Holder or Brokers herein shall desire
     to give or serve any notice,  demand,  request,  approval,  disapproval  or
     other communication,  each such communication shall be in writing and shall
     be delivered  personally,  by messenger or by mail, postage prepaid, to the
     address set forth in this Agreement or by facsimile transmission.

          19.2  Service of any such  communication  shall be deemed  made on the
     date of actual receipt if personally delivered. Any such communication sent
     by regular  mail shall be deemed  given 48 hours  after the same is mailed.
     Communications sent by United States Express Mail or overnight courier that
     guarantee  next day  delivery  shall be  deemed  delivered  24 hours  after
     delivery  of the same to the  Postal  Service  or  courier.  Communications
     transmitted  by  facsimile  transmission  shall be  deemed  delivered  upon
     telephonic confirmation of receipt (confirmation report from fax machine is
     sufficient),  provided a copy is also  delivered  via delivery or mail.  If
     such communication is received on a Saturday,  Sunday or legal holiday,  it
     shall be deemed received on the next business day.

          19.3 Any Party or Broker  hereto  may from time to time,  by notice in
     writing,  designate a different  address to which, or a different person or
     additional persons to whom all communications are thereafter made.

20. Duration of Offer.

          20.1 If this offer is not  accepted  by Seller on or before  5:00 P.M.
     according to the time standard  applicable to the city of San Diego,  CA on
     the date of October 23, 2000, it shall be deemed automatically revoked.

          20.2 The acceptance of this offer,  or of any subsequent  counteroffer
     hereto,  that  creates an  agreement  between the Parties as  described  in
     paragraph  1.2,  shall be deemed  made upon  delivery to the other Party or
     either Broker herein of a duly executed writing  unconditionally  accepting
     the last outstanding offer or counteroffer.

     21. LIQUIDATED  DAMAGES.  (This Liquidated  Damages paragraph is applicable
only if  initialed  by both  Parties).  THE  PARTIES  AGREE  THAT  IT  WOULD  BE
IMPRACTICABLE  OR EXTREMELY  DIFFICULT TO FIX, PRIOR TO SIGNING THIS  AGREEMENT,
THE ACTUAL  DAMAGES  WHICH WOULD BE SUFFERED BY SELLER IF BUYER FAILS TO PERFORM
ITS OBLIGATIONS UNDER THIS AGREEMENT.  THEREFORE,  IF, AFTER THE SATISFACTION OR
WAIVER OF ALL  CONTINGENCIES  PROVIDED FOR THE BUYER'S  BENEFIT,  BUYER BREACHES
THIS AGREEMENT,  SELLER SHALL BE ENTITLED TO LIQUIDATED DAMAGES IN THE AMOUNT OF
$75,  000. 00. UPON PAYMENT OF SAID SUM TO SELLER,  BUYER SHALL BE RELEASED FROM
ANY FURTHER  LIABILITY  TO SELLER,  AND ANY ESCROW  CANCELLATION  FEES AND TITLE
COMPANY CHARGES SHALL BE PAID BY SELLER.

            Buyer Initials  __  Seller initials  __

     22.  ARBITRATION OF DISPUTES.  (This  Arbitration of Disputes  paragraph is
applicable only if initialed by both Parties.)

          22.1  ANY  CONTROVERSY  AS  TO  WHETHER  SELLER  IS  ENTITLED  TO  THE
     LIQUIDATED DAMAGES AND/OR BUYER IS ENTITLED TO THE RETURN OF DEPOSIT MONEY,
     SHALL BE DETERMINED  BY BINDING  ARBITRATION  BY, AND UNDER THE  COMMERCIAL
     RULES  OF  THE  AMERICAN  ARBITRATION  ASSOCIATION   ("COMMERCIAL  RULES").
     ARBITRATION  HEARINGS  SHALL BE HELD IN THE COUNTY  WHERE THE  PROPERTY  IS
     LOCATED.  ANY SUCH CONTROVERSY SHALL BE ARBITRATED BY THREE ARBITRATORS WHO
     SHALL BE IMPARTIAL  REAL ESTATE  BROKERS WITH AT LEAST 5 YEARS OF FULL TIME
     EXPERIENCE  IN BOTH THE AREA WHERE THE  PROPERTY IS LOCATED AND THE TYPE OF
     REAL ESTATE THAT IS THE SUBJECT OF THIS AGREEMENT.  THEY SHALL BE APPOINTED
     UNDER THE COMMERCIAL  RULES. THE ARBITRATORS  SHALL HEAR AND DETERMINE SAID
     CONTROVERSY IN ACCORDANCE WITH APPLICABLE LAW, THE INTENTION OF THE PARTIES
     AS EXPRESSED IN THIS  AGREEMENT AND ANY  AMENDMENTS  THERETO,  AND UPON THE
     EVIDENCE  PRODUCED AT AN  ARBITRATION  HEARING.  PRE-ARBITRATION  DISCOVERY
     SHALL BE PERMITTED IN  ACCORDANCE  WITH THE  COMMERCIAL  RULES OR STATE LAW
     APPLICABLE TO  ARBITRATION  PROCEEDINGS.  THE AWARD SHALL BE EXECUTED BY AT
     LEAST TWO OF THE THREE  ARBITRATORS,  BE RENDERED  WITHIN 30 DAYS AFTER THE
     CONCLUSION OF THE HEARING, AND MAY INCLUDE ATTORNEYS' FEES AND COSTS TO THE
     PREVAILING  PARTY PER  PARAGRAPH 16 HEREOF.  JUDGMENT MAY BE ENTERED ON THE
     AWARD IN ANY COURT OF COMPETENT JURISDICTION NOTWITHSTANDING THE FAILURE OF
     A PARTY DULY NOTIFIED OF THE ARBITRATION HEARING TO APPEAR THEREAT.

          22.2  BUYER'S  RESORT  TO  OR   PARTICIPATION   IN  SUCH   ARBITRATION
     PROCEEDINGS SHALL NOT BAR SUIT IN A COURT OF COMPETENT  JURISDICTION BY THE
     BUYER  FOR  DAMAGES  AND/OR  SPECIFIC  PERFORMANCE  UNLESS  AND  UNTIL  THE
     ARBITRATION  RESULTS IN AN AWARD TO THE SELLER OF  LIQUIDATED  DAMAGES,  IN
     WHICH  EVENT SUCH AWARD  SHALL ACT AS A BAR AGAINST ANY ACTION BY BUYER FOR
     DAMAGES AND/OR SPECIFIC PERFORMANCE.

          22.3 NOTICE: BY INITIALING IN THE SPACE BELOW YOU ARE AGREEING TO HAVE
     ANY  DISPUTE  ARISING OUT OF THE MATTERS  INCLUDED IN THE  "ARBITRATION  OF
     DISPUTES"   PROVISION  DECIDED  BY  NEUTRAL   ARBITRATION  AS  PROVIDED  BY
     CALIFORNIA  LAW AND YOU ARE GIVING UP ANY RIGHTS YOU MIGHT  POSSESS TO HAVE
     THE DISPUTE  LITIGATED IN A COURT OR JURY TRIAL. BY INITIALING IN THE SPACE
     BELOW YOU ARE  GIVING UP YOUR  JUDICIAL  RIGHTS TO  DISCOVERY  AND  APPEAL,
     UNLESS  SUCH  RIGHTS  ARE  SPECIFICALLY  INCLUDED  IN THE  "ARBITRATION  OF
     DISPUTES" PROVISION.  IF YOU REFUSE TO SUBMIT TO ARBITRATION AFTER AGREEING
     TO THIS PROVISION, YOU MAY BE COMPELLED TO ARBITRATE UNDER THE AUTHORITY OF
     THE CALIFORNIA CODE OF CIVIL PROCEDURE.  YOUR AGREEMENT TO THIS ARBITRATION
     PROVISION IS VOLUNTARY.

     WE HAVE READ AND  UNDERSTAND  THE  FOREGOING  AND AGREE TO SUBMIT  DISPUTES
     ARISING  OUT OF THE  MATTERS  INCLUDED  IN THE  "ARBITRATION  OF DISPUTES"
     PROVISION TO NEUTRAL ARBITRATION.

            Buyer Initials  __                      Seller Initials __

23. Miscellaneous.

          23.1 Binding  Effect.  This Agreement  shall be binding on the Parties
     without regard to whether or not paragraphs 21 and 22 are initialed by both
     of the  Parties.  Paragraphs  21 and 22 are  each  incorporated  into  this
     Agreement  only if initialed by both Parties at the time that the Agreement
     is executed.

          23.2  Applicable  Law.  This  Agreement  shall  be  governed  by,  and
     paragraph  22.3 is  amended to refer to, the laws of the state in which the
     Property is located.

          23.3 Time of Essence. Time is of the essence of this Agreement.

          23.4 Counterparts.  This Agreement may be executed by Buyer and Seller
     in  counterparts,  each of which  shall be deemed an  original,  and all of
     which together shall constitute one and the same instrument. Escrow Holder,
     after  verifying  that  the  counterparts  are  identical  except  for  the
     signatures,  is authorized and  instructed to combine the signed  signature
     pages  on  one  of  the  counterparts,  which  shall  then  constitute  the
     Agreement.

          23.5 Waiver of Jury Trial.  The Parties hereby waive their  respective
     rights to trial by jury in any action or proceeding  involving the Property
     or arising out of this Agreement.

24. Disclosures Regarding The Nature of a Real Estate Agency Relationship.

          24.1 The Parties and Brokers agree that their relationship(s) shall be
     governed  by the  principles  set forth in the  applicable  sections of the
     California Civil Code, as summarized in paragraph 24.2.

          24.2  When  entering  into  a  discussion  with a  real  estate  agent
     regarding  a real  estate  transaction,  a Buyer or Seller  should from the
     outset understand what type of agency relationship or representation it has
     with the agent or agents in the transaction.  Buyer and Seller  acknowledge
     being advised by the Brokers in this transaction, as follows:

               (a) Seller's  Agent. A Seller's  agent under a listing  agreement
          with the  Seller  acts as the agent for the  Seller  only.  A Seller's
          agent or subagent has the following  affirmative  obligations:  (1) To
          the Seller. A fiduciary duty of utmost care,  integrity,  honesty, and
          loyalty in dealings with the Seller.  (2) To the Buyer and the Seller.
          a. Diligent  exercise of reasonable  skills and care in performance of
          the  agent's  duties.  b. A duty of honest and fair  dealing  and good
          faith.  c. A duty to disclose all facts known to the agent  materially
          affecting the value or desirability of the property that are not known
          to, or within the diligent  attention and observation of, the Parties.
          An agent is not  obligated to reveal to either Party any  confidential
          information  obtained  from the other Party which does not involve the
          affirmative duties set forth above.

               (b) Buyer's Agent.  A selling agent can, with a Buyer's  consent,
          agree to act as agent for the Buyer  only.  In these  situations,  the
          agent is not the Sellers  agent,  even if by  agreement  the agent may
          receive compensation for services rendered,  either in full or in part
          from the Seller.  An agent  acting only for a Buyer has the  following
          affirmative obligations.  (1) To the Buyer: A fiduciary duty of utmost
          care, integrity, honesty, and loyalty In dealings with the Buyer . (2)
          To the Buyer and the Seller a. Diligent  exercise of reasonable skills
          and care in performance of the agent's fair dealing and good faith. c.
          A duty to disclose all facts known to the agent  materially  affecting
          the value or  desirability  of the Property  that are not known to, or
          within the diligent  attention  and  observation  of, the Parties.  An
          agent is not  obligated  to reveal to  either  Party any  confidential
          information  obtained  from the other Party which does not involve the
          affirmative duties set forth above.

               (c) Agent  Representing  Both  Seller  and Buyer.  A real  estate
          agent,  either  acting  directly  or  through  one or  more  associate
          licenses, can legally be the agent of both the Seller and the Buyer in
          a  transaction,  but only with the  knowledge  and consent of both the
          Seller and the Buyer.  (1) In a dual agency  situation,  the agent has
          the  following  affirmative  obligations  to both the  Seller  and the
          Buyer:  a. A fiduciary  duty of utmost  care,  integrity,  honesty and
          loyalty in the  dealings  with  either  Seller or the Buyer.  b. Other
          duties to the Seller and the Buyer as stated above in their respective
          sections (a) or (b) of this paragraph 24.2. (2) In  representing  both
          Seller and Buyer, the agent may not without the express  permission of
          the respective Party, disclose to the other Party that the Seller will
          accept a price less than the listing  price or that the Buyer will pay
          a price  greater than the price  offered.  (3) The above duties of the
          agent in a real  estate  transaction  do not relieve a Seller or Buyer
          from the  responsibility  to protect  their own  interests.  Buyer and
          Seller  should  carefully  read all  agreements  to  assure  that they
          adequately  express their  understanding  of the  transaction.  A real
          estate agent is a person  qualified  to advise  about real estate.  If
          legal or tax advice is desired, consult a competent professional.

               (d) Further  Disclosures.  Throughout this transaction  Buyer and
          Seller may receive more than one disclosure, depending upon the number
          of agents assisting in the  transaction.  Buyer and Seller should each
          read  its  contents  each  time  it  is  presented,   considering  the
          relationship   between   them  and  the  real  estate  agent  in  this
          transaction and that disclosure.  Brokers have no responsibility  with
          respect to any default or breach hereof by either Party. The liability
          (including  court  costs and  attorneys'  fees),  of any  Broker  with
          respect  to any breach of duty,  error or  omission  relating  to this
          Agreement shall not exceed the fee received by such Broker pursuant to
          this Agreement;  provided,  however,  that the foregoing limitation on
          each  Broker's   liability  shall  not  be  applicable  to  any  gross
          negligence or willful misconduct of such Broker.

          24.3 Confidential  Information:  Buyer and Seller agree to identify to
     Brokers as  "Confidential"  any  communication or information given Brokers
     that is considered by such Party to be confidential.

     25. Construction of Agreement.  In construing this Agreement,  all headings
and  titles  are for the  convenience  of the  Parties  only  and  shall  not be
considered  a part of this  Agreement.  Whenever  required by the  context,  the
singular shall include the plural and vice versa. Unless otherwise  specifically
indicated to the contrary,  the word "days" as used in this Agreement shall mean
and refer to calendar days. This Agreement shall not be construed as if prepared
by one of the parties,  but rather  according to its fair meaning as a whole, as
if both Parties had prepared it.

     26 Additional Provisions:  Additional provisions of this offer, if any, are
as follows or are attached  hereto by an addendum  consisting  of  paragraphs 27
through 30. (If there are no additional provisions write "NONE".)

ATTENTION:   NO  REPRESENTATION  OR  RECOMMENDATION  IS  MADE  BY  THE  AMERICAN
INDUSTRIAL REAL ESTATE ASSOCIATION OR BY ANY BROKER AS TO THE LEGAL SUFFICIENCY,
LEGAL EFFECT,  OR TAX CONSEQUENCES OF THIS AGREEMENT OR THE TRANSACTION TO WHICH
IT RELATES. THE PARTIES ARE URGED TO:

     1. SEEK  ADVICE OF  COUNSEL  AS TO THE LEGAL AND TAX  CONSEQUENCES  OF THIS
     AGREEMENT.

     2. RETAIN  APPROPRIATE  CONSULTANTS TO REVIEW AND INVESTIGATE THE CONDITION
     OF THE PROPERTY.  SAID INVESTIGATION  SHOULD INCLUDE BUT NOT BE LIMITED TO:
     THE POSSIBLE PRESENCE OF HAZARDOUS SUBSTANCES,  THE ZONING OF THE PROPERTY,
     THE INTEGRITY AND CONDITION OF ANY  STRUCTURES AND OPERATING  SYSTEMS,  AND
     THE SUITABILITY OF THE PROPERTY FOR BUYER'S INTENDED USE.

WARNING:  IF THE PROPERTY IS LOCATED IN A STATE OTHER THAN  CALIFORNIA,  CERTAIN
PROVISIONS  OF THIS  AGREEMENT MAY NEED TO BE REVISED TO COMPLY WITH THE LAWS OF
THE STATE IN WHICH THE PROPERTY IS LOCATED.

NOTE:

1. THIS FORM IS NOT FOR USE IN CONNECTION WITH THE SALE OF RESIDENTIAL PROPERTY.

2. IF THE BUYER IS A  CORPORATION,  IT IS  RECOMMENDED  THAT THIS  AGREEMENT  BE
SIGNED BY TWO CORPORATE OFFICERS.

The  undersigned  Buyer  offers and agrees to buy the  Property on the terms and
conditions stated and acknowledges receipt of a copy hereof.

Broker:                                              Buyer:

Jeff Taich                                           Jean Francois Hope

                                                     By: /S/  FRANCOISE HOPE
27. Acceptance.
      27.1 Seller accepts the foregoing offer to purchase the Property and
hereby agrees to sell the Property to Buyer on the terms and conditions therein
specified.
      27.2 Seller acknowledges that Brokers have been retained to locate a Buyer
and are the procuring cause of the purchase and sale of the Property set forth
in this Agreement. In consideration of real estate brokerage service rendered by
Brokers, Seller agrees to pay Brokers a real estate Brokerage Fee in a sum equal
to 6% of the Purchase Price divided in such shares as said Brokers shall direct
in writing. This Agreement shall serve as an irrevocable instruction to Escrow
Holder to pay such Brokerage Fee to Brokers out of the proceeds accruing to the
account of Seller at the Closing.

     27. Seller acknowledges  receipt of a copy hereof and authorizes Brokers to
deliver a signed copy to Buyer.

NOTE:  A PROPERTY  INFORMATION  SHEET IS  REQUIRED TO BE  DELIVERED  TO BUYER BY
SELLER UNDER THIS AGREEMENT.

-
BROKER:                                         SELLER:
San Diego Commercial Real Estate Services       Bowling Properties, Inc.

By:                                             By: /S/ Harold S. Elkan

     Mark Silverman                                  Harold S. Elkan, President

<PAGE>

ADDENDUM TO  PURCHASE  AGREEMENT  AND ESCROW  INSTRUCTION  FOR  PURCHASE OF REAL
ESTATE  DATED  OCTOBER 23, 2000 BY AND BETWEEN  JEAN  FRANCIOS  HOPE (BUYER) AND
BOWLING PROPERTIES, INC. (SELLER)

26. PERSONAL PROPERTY:
        Seller shall remove bowling lanes, pinsetters and other equipment
       related to the bowling alley operation from the property and deliver the
       premises in a broom clean condition, within fifteen (15) days from close
       of escrow and subject to paragraph 27.

27. POSSESSION:
        Seller shall deliver to Buyer possession of property fifteen (15) days
       after close of escrow provided escrow closes on December 20, 2000. In the
       event that the Buyer wishes to close escrow prior to the scheduled close
       of escrow date, the Buyer shall deliver a written notice to the Seller
       ten (10) days prior to the early closing date. Should Seller not deliver
       possession of property fifteen (15) days after closing, subject to the
       above notification, Seller will pay daily rent to the Buyer based on a
       thirty (30) day proration incorporating Buyers debt service, property
       taxes and building insurance.

28. FENCED PARKING CONTINGENCY:
        Within ten (10) days of execution of purchase agreement Seller will
        deliver to Buyer written approval or denial from the appropriate owners
        necessary for Buyer to obtain a fenced vehicle parking area at the north
        east portion of the parking lot, west of the Dunn Edwards paint store.
        (Approximately 125'longx67'wide). Upon Seller obtaining necessary
        approval Seller shall have Title record the approval allowing Buyer to
        fence said parking area. Buyer will agree to screen said area if
        necessary to gain approval. If approval is not achieved, Buyer shall
        either waive the fenced parking contingency or agree to cancel escrow
        immediately, subject to the provisions of the purchase agreement.

29. CONTINGENCY REMOVAL:
        With exception of the Buyer obtaining an SBA loan commitment from the
        SBA and the property appraising for the $2,215,000.00 purchase price,
        Buyer will remove all other Buyer contingencies within fifteen (15) days
        from full execution of the purchase agreement (Friday, November 6,
        2000). Buyer shall have thirty (30) days from full execution of the
        purchase agreement to remove the SBA loan commitment and property
        appraisal contingencies.
        (November 21, 2000)

30. NON-REFUNDABLE SECURITY DEPOSIT:
        The security deposit shall be increased to Seventy-five Thousand and
        00/100 Dollars ($75,000.00) on November 6, 2000 and shall be refundable
        only under the following contingencies not being met:

          A. The Buyer does not obtain a SBA loan  commitment  for the  purchase
     price of $2,215,000.00.

          B. The property  does not  appraise at or above the purchase  price of
     $2,215,000.00.

        Upon satisfaction and removal of the above contingencies and subject to
        the Seller not defaulting under the terms of the purchase agreement, the
        security deposit of Seventy-five Thousand and 00/100 Dollars
        ($75,000.00) shall become non-refundable.

BUYER: FRANCIOS HOPE
                /S/ FRANCOIS HOPE                         DATE: OCTOBER 23, 2000

SELLER: BOWLING PROPERTIES, INC.
                BY: /S/ HAROLD S. ELKAN                   DATE: OCTOBER 20, 2000
                         Harold S. Elkan, President~
                           McComic Consolidated, Inc.
                               PURCHASE AGREEMENT

                 Date January 11, 2001, at San Diego, California

1. BUYER: McComic Consolidated Inc. ("Buyer)

2. SELLER: Old Vail Partners, a California General Partnership

3. OFFER:

        a)     THIS IS AN OFFER FROM McComic Consolidated Inc. ("Buyer') for the
               purchase of real property in the City of Temecula, County of
               Riverside, California, described as approximately 32.6 acres on
               the south side of Hwy 79 South as shown on the attached Exhibit A
               ('"Property').

        b) THE PURCHASE PRICE offered is $6,550,000.
        c) CLOSE OF ESCROW shall occur on April 20, 2001.

4. DEPOSIT:  Buyer shall  deposit the sum of $260,000 into an escrow with United
   Title Company of San Diego,  California within 4 (four) Days after acceptance
   of this offer by Seller,  which  amount shall be made payable to United Title
   Co. and is to be deposited into an interest bearing account.

5. PAYMENT OF PURCHASE  PRICE:  At the close of escrow on April 20, 2001,  Buyer
   shall pay Seller cash in the amount of $6,550,000.

6. ALLOCATION OF ESCROW, TITLE AND OTHER COSTS:

        a) X Buyer X-Seller shall pay escrow fee 50% Each.
           --      -                             ----------
        b) Escrow Holder shall be United Title Company of San Diego.

        c) __ Buyer X Seller shall pay for owner's title insurance policy,
               issued by United Title Company of San Diego.
        d) __ Buyer :X Seller shall pay County transfer tax or transfer fee.
                     --

7. BUYER'S  INVESTIGATION  OF  PROPERTY  CONDITION:  Buyer's  Acceptance  of the
   condition of the Property is a  contingency  of this  Agreement.  Buyer shall
   have  the  right in it's  discretion  and at it's  expense  to  conduct  such
   inspections, investigations tests, surveys. and other studies ("Inspections")
   as it deems  necessary.  Seller  shall make the  Property  available  for all
   Inspections.  Buyer shall have until  February  28, 2001 to complete all such
   inspections  and  either  approve  or  disapprove  the  property.   If  Buyer
   disapproves  of the  property on or prior to February  28,2001,  the deposit.
   together with interest thereon, shall be fully refundable to Buyer.

8. BUYER  INDEMNITY AND SELLER  PROTECTION FOR ENTRY UPON  PROPERTY:  As to it's
   activities on the Property, Buyer shall: (i) keep the Property free and clear
   of liens; (ii) indemnify and hold Seller harmless from all liability, claims,
   demands,  damages  and costs;  and (iii)  Repair  all  damages  arising  from
   inspections.  Buyer shall  carry,  or Buyer shall  require  anyone  acting on
   Buyer's behalf to carry  policies of liability,  worker's  compensation,  and
   other applicable  insurance,  defending and protecting  Seller from liability
   for any injuries to persons or property  occurring  during any inspections of
   work done on the Property at Buyer's direction, prior to Close Of Escrow.

9. TITLE AND VESTING:

      a) Within 5 (five) days of Acceptance by Seller, Buyer shall be provided a
         current preliminary (title) report (which is only an offer by the title
         insurer to issue a policy of title insurance, and may not contain every
         item affecting title). Buyer shall have 15 (fifteen) days after receipt
         to approve same.

      b) At Close Of Escrow,  Buyer shall receive a grant deed conveying  title,
         including oil, mineral and water rights,  if currently owned by Seller,
         Title shall be subject to all matters  which are of record or disclosed
         to Buyer  prior  to Close Of  Escrow,  and not  disapproved  by  Buyer.
         However,  title shall not be subject to any liens against the Property,
         except  for those  specified  in this  Agreement.  Title  shall vest as
         designated in Buyer's escrow instructions.

      c) Buyer shall receive an ALTA Policy of Title Insurance. If Buyer desires
         title coverage other than that required by this paragraph,  Buyer shall
         instruct Escrow Holder in writing and pay any increase in costs.

10. REMOVAL OF CONTINGENCIES/CANCELLATION RIGHTS:

      a) If Buyer does not give Seller  written  notice of it's  approval of the
         contingencies to this agreement within the time period specified,  then
         Seller shall have the right to cancel this  Agreement by giving written
         notice to Buyer.

      b) EFFECT OF  CANCELLATION  ON DEPOSITS:  If Buyer or Seller gives written
         NOTICE OF CANCELLATION  pursuant to this  Agreement,  Buyer and- Seller
         agree to sign  mutual  instructions  to cancel  the sale and escrow and
         release the deposit,  less fees and costs, to the party entitled to the
         deposited funds. Buyer has the right to terminate this Agreement at any
         time up to and  including  February  28,  2001.  If the Buyer elects to
         terminate  the  Agreement on or prior to February  28,  2001,  then the
         deposit,  together  with any  interest  thereon,  shall be  returned to
         Buyer.

      c) Upon  receiving  written  satisfaction  from  Buyer  of the  Inspection
         Period,  Escrow Agent will release the $260,000  deposit to Seller as a
         non-refundable deposit applicable to the Purchase Price.

11.LIQUIDATED  DAMAGES:  If Buyer fails to  complete  this  purchase  because of
   Buyer's  default,  Seller shall retain,  as liquidated  damages,  the deposit
   actually paid.

<PAGE>

12.PRORATIONS AND PROPERTY  TAXES AND OTHER ITEMS:  Unless  otherwise  agreed in
   writing. the following items shall be PAID CURRENT and prorated between Buyer
   and  Seller as of Close Of  Escrow;  real  property  taxes  and  assessments.
   interest, rents, municipal utilities, HOA regular, special and emergency dues
   and  assessments  imposed  prior to Close Of Escrow,  premiums  on  insurance
   assumed by Buyer,  payments on bonds and  assessments  assumed by Buyer,  and
   payments  on  Mello-Roos  and other  Special  Assessment  District  bonds and
   assessments.  including the Road Assessment obligation, which are now a lien.
   The  following  items  shall be assumed by Buyer  WITHOUT  CREDIT  toward the
   purchase price:  prorated payments on Mello-Roos and other Special Assessment
   District bonds.  including tile Road Assessment  obligation,  and assessments
   and HOA  special  assessments  that are now a lien but not yet due,  Property
   will be reassessed upon change of ownership. Any supplemental tax bills shall
   be paid as follows: (1) For period after Close Of Escrow, by Buyer, and, (ii)
   For periods prior to Close Of Escrow, by Seller, TAX BILLS ISSUED AFTER CLOSE
   OF ESCROW SHALL BE HANDLED DIRECTLY BETWEEN BUYER AND SELLER Prorations shall
   be made based on a 30-day month. It is acknowledged  between the Parties that
   there is a County Assessment District Lien recorded against the property that
   will be of  record  at close of  escrow;  however.  in  accordance  with this
   paragraph, said assessments shall be paid current and pro rated between Buyer
   and Seller as of close of escrow .

13.WITHHOLDING  TAXES:  Seller  and  Buyer  agree to  execute  and  deliver  any
   instrument.  affidavit,  statement,  or instruction  reasonably  necessary to
   comply with federal  (FIRFTA)  and  California  withholding  Law, if required
   (such as C.A.R. Form AS-II and AB-II)

14.ATTORNEY'S FEES: In any action.  proceeding  between Buyer and Seller arising
   out of this Agreement.  the prevailing  party shall be entitled to reasonable
   attorney's fees and costs from the non-prevailing Party.

15.TIME OF  ESSENCE;  ENTIRE  CONTRACT;  CHANGES:  Time is of the  essence.  All
   understandings  between the parties arc  incorporated in this Agreement.  Its
   terms are intended b(Y)the parties as a final.  complete  expression of their
   Agreement with respect to its subject matter,  and may not be contradicted by
   evidence of any prior agreement or  contemporaneous  oral  agreement.  If any
   provision  0 f this  Agreement  is held to be  ineffective  or  invalid,  the
   remaining  provisions  will  nevertheless  be given  full  force and  effect.
   Neither this  Agreement nor any  provisions  to it may be extended,  amended,
   modified, or changed, except in writing signed by Buyer and Seller.

16. DEFINITIONS: As used in this Agreement:

      a) "Acceptance"  means  the time  the  offer  or  final  counter  offer is
         accepted in writing by thc other party and  communicated  in accordance
         with this Agreement or the terms of the final counter offer.

      b) "Agreement"  means the terms and conditions of this Purchase  Agreement
         and any counter offer and addenda.

      c) "Days" means calendar days, unless otherwise required by Law.

      d) "Days  After"  means the  specified  number of calendar  days after the
         occurrence  of the event  specified.  not counting the calendar date on
         which the  specified  event occurs and ending at 11 :59 PM on the final
         day.

      e) "Close of Escrow" means the date the grant deed,  or other  evidence of
         transfer of title, is recorded. If scheduled Close Of Escrow falls on a
         Saturday,  Sunday or legal holiday, then the Close Of Escrow date shall
         be the next business day after the scheduled close of escrow date.

      f) "Law"  means any law,  code,  statue,  ordinance)  regulation,  rule or
         order, which is adopted by a controlling city, county, state or federal
         legislative judicial or executive body of agency.

      g} "Sign" means either a hand written or  electronic  signature  complying
         with California Law.

      h) Singular and Plural terms each include the other. when appropriate.

      i) C.A.R. Form means the specific term referenced,  or another  comparable
         form agreed to by the parties.

17. JOINT ESCROW INSTRUCTIONS TO ESCROW HOLDER:

      a) The following  paragraphs,  or  applicable  portions  thereof,  of this
         Agreement  constitute the joint escrow instructions of Buyer and Seller
         to  Escrow  Holder.  Which  Escrow  Holder  is to use,  along  with any
         relating  counter  offers  arid  addenda  and  any  additional   mutual
         instructions, to close the transaction. The terms and conditions of the
         Agreement  not set forth in the  specified  paragraphs  are  additional
         matters for the  Information of Escrow  Holder,  but about which Escrow
         Holder  need not be  concerned.  Buyer and Seller will  receive  Escrow
         Holder's  general  provisions  directly  from  Escrow  Holder  and will
         execute such provisions upon Escrow Holder's request. To the extent the
         general  provisions are  inconsistent  or conflict with this Agreement.
         the general provisions will control as to the duties and obligations of
         Escrow   Holder  only.   Buyer  and  Seller  will  execute   additional
         instructions,  documents and forms reasonably necessary to compete this
         transaction if provided by Escrow Holder.

      b) A copy of this  Agreement  shall be delivered to Escrow Holder within 5
         business Days After Acceptance.  Escrow will be deemed open when Escrow
         Holder bas  signed an  acknowledgment  of  receipt  of a Copy;  of this
         accepted Agreement.  Buyer and Seller authorize Escrow Holder to accept
         and rely on Copies and  Signatures  as defined  in this  Agreement,  as
         originals,  to open  escrow  and for  other  purposes  of  escrow.  The
         validity  of this  Agreement  as is  between  Buyer  and  Seller is not
         affected by whether or when Escrow Holder Signs the Agreement.

18.AGENT:  Buyer and Seller  acknowledge  that Ed Struiksma has  represented the
   Seller in this transaction and any commission due to him shall be paid by the
   Seller.

19. OFFER: This is an offer to purchase the Property

20. BUYER: McComic Consolidated, Inc.

        BY: /S/ Jim Wait EVP                Date: January 1, 2001

21.ACCEPTANCE  OF  OFFER:  Seller  warrants  that  Seller  is the  owner of this
   Property or has the authority to execute this  Agreement.  Seller accepts the
   above offer,  agrees to sell the Property on the above terms and  conditions,
   and Seller has read and acknowledges receipt of a Copy of this Agreement, and
   authorizes delivery of a Signed Copy to Buyer.

22. SELLER: Old Vail Partners

        SELLER: /S/ Harold S. Elkan, President            Date: January 12, 2001

<PAGE>

                               PURCHASE AGREEMENT
                                 First Amendment
                             Date: February 28, 2001

BUYER: McComic Consolidated, Inc. ("Buyer")

SELLER: Old Vail Partners, a California General Partnership

ASSESSOR PARCEL: #961-010-006

                                    RECITALS

A. Buyer and Seller have entered  into a Purchase  Agreement  ("the  Agreement")
   dated January 11, 2001.  Paragraph three (3) of the Agreement states that the
   Purchase Price is $6,550,000. Paragraph five (5) of the Agreement states that
   the Purchase Price shall be paid to Seller in cash at the close of escrow.

B. Seller is  required  to  transfer  the  Property  to the Buyer at the time of
   closing free of all ad valorem real estate taxes and special  assessments due
   and accrued but unpaid plus  interest,  penalties  redemption  interest,  and
   redemption penalties and charges (collectively  referred herein as Delinquent
   Taxes).

C. Buyer may be able to negotiate  with taxing  authorities,  a reduction on the
   amount  necessary to pay off the Delinquent  Taxes,  which would exist at the
   time of the Closing,  in full (referred  herein as the "Tax Discount".  It is
   possible the payment of the Delinquent Taxes must be deemed paid by the Buyer
   (and not the Seller) in order for the Buyer to obtain the Tax Discount.

NOW THEREFORE - THE PARTIES AGREE THAT THE Agreement is amended as follows:

1. In the event that one or more  taxing  authorities  are willing to give a tax
   discount with respect to the Delinquent  Taxes,  the full benefit of any such
   discount shall accrue  entirely to the benefit of the Buyer as provided below
   herein.

2. Subject to  paragraph 3 below,  the escrow  shall pay out of funds  deposited
   into Escrow by Buyer, to the appropriate  taxing  authorities,  upon close of
   escrow, the amount necessary to pay the delinquent taxes, in full, net of the
   Tax Discount  (such payment shall be deemed paid by the Buyer).  The Purchase
   Price  will be  deemed  to be  reduced  by the  amount  of the Tax  Discount.
   However,  Buyer  shall  receive a credit  against the  Purchase  Price in the
   amount of the gross delinquent taxes,  before the Tax Discount.  For example,
   if the delinquent  Taxes at the time of the closing is $3,000,000 and the Tax
   Discount is  $1,000,000,  then the net amount due Seller at closing  would be
   S3,550,000 ($6,550,000 - $3,000,000).

3. Buyer may at its option, at the time of closing, elect to have only a portion
   of the  Delinquent  Taxes  paid off at  closing  and thus  take the  property
   subject to the remaining  Delinquent  taxes not paid off For example,  assume
   !be Delinquent taxes at time of closing is $3,000)000 and the Tax Discount is
   $1)000,000  (resulting in Net Delinquent  Taxes of  $2,000,000).  Furthermore
   assume that the Buyer elects to have only  $1,500,000  of the Net  Delinquent
   Taxes paid off at the time of closing. In such case the net amount due Seller
   at closing would  continue to be $3,550,000  ($6,550,000 -  $3,000,000).  The
   Escrow would pay out funds deposited by Buyer into escrow,  $1,500,000 to the
   appropriate  taxing  authorities.  After  closing,  the Seller  would have no
   liability  for that portion of the  Delinquent  Taxes which the Buyer elected
   not to payoff at the time of closing.

4. In the event that the gross amount of Delinquent  Taxes  exceeds  $6,500,000,
   the seller shall pay such excess amount to Buyer  through  escrow at the time
   of closing.  Buyer and Seller mutually agree to amend the escrow instructions
   to United Title Company to effect this First  Amendment.  All other terms and
   conditions of the Agreement shall remain in effect.

ACCEPTANCE OF FIRST :

SELLER: BY: /S/ Harold S. Elkan, President                  DATE: March 5, 2001

BUYER: /S/ Ron E. Finch, McComic Consolidated, Inc.         DATE: March 5, 2001

<PAGE>

                               PURCHASE AGREEMENT
                                Second Amendment
                             Date: February 28, 2001

BUYER: McComic Consolidated, Inc. ("Buyer")

SELLER: Old Vail Partners, a California General Partnership

ASSESSOR PARCEL: #961-010-006

1. REClTAL-  Buyer and  Seller  have  entered  into a  Purchase  Agreement  ('~e
   Agreement")  dated  January 11, 2001.  Paragraph  seven (7) of the  Agreement
   states  that  Buyer's  Acceptance  of  the  condition  of the  Property  is a
   contingency of the Agreement.  Buyer has until February 28,2001 to accept the
   condition of the Property.

   Paragraph nine (9) of the Agreement  gives Buyer 15 days after receipt of the
   current Preliminary Title Report to approve same. By letter dated February 8,
   2001,  Buyer  rejected the  condition of the Title  Report.  Since that date,
   Buyer, Seller and United Title Company have worked to resolve the outstanding
   Title issues.

   As of February 28,2001,  several  outstanding Title issues remain unresolved.
   However,  Buyer hereby accepts the condition of the Preliminary Title report,
   except for items 11, 12, 15, and 16 of the  Preliminary  Title  Report  dated
   February 9,2001.

2. NOW THEREFORE - In an effort to resolve the outstanding  Title issues,  Buyer
   and Seller mutually agree to extend the February 28th date by an additional 9
   days.  The new date by which the Buyer must  approve  the  Preliminary  Title
   Report and the  condition  of the Property is extended to March  9,2001.  All
   other terms and conditions of the Agreement shall remain in effect.

ACCEPTANCE OF SECOND AMENDMENT:

SELLER: By /S/ Harold S. Elkan, President                 DATE: March 5, 2001
               Old Vail Partners

BUYER : Ron E. Finch                                      DATE: March 5, 2001
               McComic Consolidated, Inc.

<PAGE>

                               PURCHASE AGREEMENT
                                THIRD AMENDMENT:
                              Dated: March 9, 2001

BUYER: McComic Consolidated, Inc.

Seller: Old Vail Partners, a California general partnership

Assessors Parcel # - 961-010-006
-------------------

                                    RECITALS

A) Buyer and Seller are parties to a Purchase  Agreement  dated January 11, 2001
   as  amended  by a First  Amendment  dated  February  28,  2001  and a  Second
   Amendment dated February 28, 2001 (collectively, the "Purchase Agreement").

B) The Buyer and Seller wish to further amend the Agreement.

NOW, THEREFORE, the parties agree as follows:

1. Buyer  approves  the  conditions  of the  Property  and title  exceptions  in
   Schedule B of the title report of United Title Company dated February 9, 2001
   (order. No. 40100322- 40) other than: unpaid taxes assessments, penalties and
   interest  which  must  be  paid by  Seller  at or  prior  to  Closing;  title
   exceptions 17, 18 and 19 which pertain to delinquent taxes (which Seller must
   remove); and title exception number 14.

2. Buyer has until  March 16.  2001 to approve  or  disapprove  title  exception
   number 14 in the title  report  referred to in  paragraph 1 above..  If Buyer
   disapproves title exception number 14 or any matter referred to therein on or
   prior to March 16, 2001. The $260,000 deposit, together with interest thereon
   shall be fully refundable to Buyer. The escrow shall not release the $250,000
   deposit to Seller as  provided in  paragraph  10 of the  Purchase  Agreement,
   unless Buyer approves title exception 14, as aforementioned.

3. Paragraph 11 of the Purchase Agreement  captioned  "liquidated  damages",  is
   deleted in its entirety and replaced with the following:

         "IT IS  AGREED  BY AND  BETWEEN  SELLER  AND  BUYER  THAT IT  WOULD  BE
         EXTREMELY  DIFFICULT AND  IMPRACTICAL.  IF NOT IMPOSSIBLE TO ASCERTAIN,
         WITH ANY  DEGREE OF  CERTAINTY  THE AMOUNT OF  DAMAGES  WHICH  WOULD BE
         SUFFERED 8Y SELLER IN THE EVENT Of  PURCHASER'S  DEFAULT AND FAILURE TO
         CLOSE ESCROW UNDER THE TERMS OF THIS AGREEMENT.  ACCORDINGLY  BUYER AND
         SELLER AGREE THAT IN THE EVENT THAT, AFTER ALL CONDITIONS ARE SATISFIED
         OR WAIVED,  BUYER  SHOULD  DEFAULT AND FAIL TO CLOSE  ESCROW  UNDER THE
         TERMS OF THIS AGREEMENT, BUYER SHALL BE LIABLE TO SELLER FOR LIQUIDATED
         DAMAGES IN THE AMOUNT OF TWO HUNDRED SIXTY THOUSAND  DOLLARS  (260,000)
         RELEASED  TO THE  SELLER.  BUYER AND SELLER  AGREE THAT SAID  AMOUNT IS
         REASONABLE UNDER THE  CIRCUMSTANCES OF THIS  TRANSACTION.  SELLER SHALL
         HAVE NO OTHER RIGHTS OR REMEDIES AGAINST BUYER."

McComic Consolidated, Inc.              Old Vail Partners, a California general
Partnership

  By: /S/ Ron E. Finch                        By: /S/ Harold S. Elkan

   Its: EVP                                   Its President

4. If there are any  conflicts  between this Third  Amendment  and the remaining
   portion the Purchase Agreement, this Third Amendment shall control

5. Subject to the Amendments herein, the Purchase Agreement is in full force and
   effect.

Executed this 9th day of March, 2001.

McComic Consolidated, Inc.              Old Vail Partners, a California general
Partnership

  By: /S/ Ron E. Finch                          By: /S/ Harold S. Elkan

   Its: EVP                                     Its President

<PAGE>

                               PURCHASE AGREEMENT
                                FOURTH AMENDMENT
                              Dated: March 15. 2001

BUYER: McComic Consolidated, Inc.

SELLER: Old Vail Partners, a California General Partnership

Assessors Parcel # 961-010-006

                                    RECITALS

A) Buyer and Seller are parties to a Purchase  Agreement  dated January 11, 2001
   as  amended  by a First  Amendment  dated  February  28,  2001  and a  Second
   Amendment  dated February  28,2001 and a Third  Amendment dated March 9, 2001
   (collectively, the "Purchase Agreement").

B) Buyer has discovered  that there is an easement which  encumbers the Property
   which is not  reflected  in the title report of United  Title  Company  dated
   February 9, 2001 (order no. 40100322-40) (the "New Easement").

C) The Buyer and Seller wish to further amend the Purchase Agreement.

NOW; THEREFORE, the parties agree as follows;

1, Buyer's  obligation  to purchase  the  property is  conditioned  upon the New
   Easement  being  eliminated  as a  title  exception  or  Buyer  waiving  such
   condition on or before March 22, 2001. If this  condition is not satisfied or
   waived  by the  Buyer on or  before  March 22,  2001,  the  $260,000  deposit
   together with Interest thereon shall be fully refundable to Buyer. The escrow
   shall[l-O1 release the $260,000 deposit to Seller as provided in paragraph 10
   of the Purchase Agreement unless the aforementioned condition is satisfied or
   waived.

2. Buyer approves title exception  number 14 in the title report of United Title
   Company dated February 9, 2001.

3. Buyer's  obligation to close escrow Is conditioned  upon there being no title
   exceptions encumbering the Property, at the time of Closing, other than those
   specific exceptions set forth in the preliminary title report of United Title
   Company dated February 9, 2001, which have been specifically  approved by the
   Buyer pursuant to this Purchase  Agreement If this condition Is not satisfied
   or ,:,,~d by Buyer, then the $260,000 deposit shall be returned to Buyer.

4. If there are any  conflicts  between this Fourth  Amendment and the remaining
   portion of the Purchase Agreement, this Fourth Amendment shall control.

5. Subject to the Amendments herein, the Purchase Agreement is In full force and
   effect.

Executed as of the date first written above.

McComic Consolidated, Inc.               Old Vail Partners, a California general
Partnership

  By: /S/ Ron E. Finch                         By: /S/ Harold S. Elkan

   Its: EVP                                    Its President

<PAGE>

FIFTH AMENDMENT TO PURCHASE AGREEMENT AND ASSIGNMENT OF PURCHASE AGREEMENT

Agreement  made this 4th day of May,  2001 by and between Old Vail  Partners,  a
California  general  partnership  (referred to herein as "Old Vail"),  The Price
Group, LLC, a California limited liability company (referred to herein as "TPG")
and McComic Consolidated,  Inc., a California corporation (referred to herein as
"McComic").

                                    RECITALS

A) Old Vail, as Seller and McComic, as Buyer are parties to a Purchase Agreement
   dated January 11, 2001, as amended by a First  Amendment  dated  February 28,
   2001, a Second  Amendment  dated February 28, 2001, a Third  Amendment  dated
   March 9, 2001,  and a Fourth  Amendment  dated March 15, 2001,  (collectively
   referred to as the "Purchase Agreement"), a copy of which is attached hereto.

B) The parties hereto wish to provide for the  assignment of McComic's  interest
   in the Purchase  Agreement to TPG and the Amendment of the Purchase Agreement
   as provided herein (hereinafter "5th Amendment").

NOW, THEREFORE, in consideration for the mutual covenants herein, the parties
agree as follows:

1. Assignment.
   ------------

      A) McComic  assigns to TPG all of its  rights,  title and  interest in the
         Purchase   Agreement  and  the  Two  Hundred  Sixty  Thousand   Dollars
         ($260,000) deposit paid into escrow, and subsequently to be released to
         Old Vail.

      B) TPG  accepts  the  assignment  referred  to in  paragraph  A) above and
         assumes  all  obligations  of the Buyer under the  Purchase  Agreement,
         subject to the Amendments contained in this Agreement.

2. Amendments to Purchase Agreement.
   ----------------------------------

The Purchase  Agreement is amended as set forth  below.  References  to the term
"Seller"  in this  section  2 shall  mean Old Vail  and  references  to the term
"Buyer" shall mean TPG:

      A) The Purchase Price is Six Million Three Hundred  Seventy-Five  Thousand
         Dollars ($6,375,000) in lieu of Six Million Five Hundred Fifty Thousand
         Dollars ($6,550,000).

      B) The  closing  of escrow  shall  occur on May 31,  2001 or  sooner  upon
         election  of Buyer by giving at least five (5) days  written  notice to
         Seller.

      C) Buyer shall deposit Seven Hundred  Forty  Thousand  Dollars  ($740,000)
         into  escrow  (referred  to as the  "Additional  Deposit")  which is in
         addition to the initial  deposit of Two Hundred Sixty Thousand  Dollars
         $260,000 (the "Initial Deposit") with United Title Company,  within two
         (2) business days after this  Agreement has been executed and delivered
         by all parties hereto.

      D) Buyer and Seller shall execute and deliver a Memorandum of Contract, in
         the form attached hereto as Exhibit A.  concurrently with the execution
         and delivery of this Agreement.  The Buyer shall deposit the Memorandum
         of Contract.  into escrow with  instructions  to the escrow agent which
         instructions  shall be limited to an instruction to immediately  record
         the Memorandum of Contract in the San Diego County Recorder's Office at
         the cost and  expense of Buyer.  The  escrow  agent  shall  immediately
         release the  Additional  Deposit to the Seller upon the  recordation as
         aforementioned.

      E) The Initial  Deposit of Two Hundred Sixty Thousand  Dollars  ($260,000)
         and the  Additional  Deposit of Seven  Hundred Forty  Thousand  Dollars
         ($740,000)  shall be credited  against the  Purchase  Price at close of
         escrow.  If this  escrow  does  not  close  on the  date  set  forth in
         paragraph B above due to the default of any of the terms and conditions
         of this  Purchase  Agreement.  including  this 5th  Amendment by Buyer,
         Seller  shall have the right,  outside of the time  frames set forth in
         Section G below, to the following  remedies:  (i) Seller may retain the
         Initial  Deposit and the Additional  Deposit as its sole remedy and, in
         such case,  the rights and  obligations of the parties shall cease upon
         notice  from  Seller of such  election  or (ii) Seller may, as Seller's
         sole and  exclusive  remedy,  seek to obtain  and  enforce an order for
         specific  performance  or  injunctive  relief from a court of competent
         jurisdiction  and,  in such case,  Buyer  hereby  agrees to  indemnify,
         defend and hold Seller  harmless  from and  against all losses,  costs,
         damages or expenses,  including  attorneys' fees and costs. arising out
         of any specific performance or injunctive relief action.

      F) Paragraph 3 of the Third  Amendment  of the  Purchase  Agreement  which
         pertains to liquidated  damages,  in the event of Buyer's  default,  is
         deleted in its entirety.

      G) In the event of a default  by  either  Seller or Buyer the other  party
         shall not be entitled to exercise any remedy for such default  unless a
         written  notice  of  default  is sent to the  defaulting  party and the
         defaulting  party fails to cure such  default  within five (5) business
         days after receipt of such written notice.

      H) Buyer to be  responsible  for ad  velorem or other  real  estate  taxes
         associated with the ownership of Real Property after April 20, 2001 and
         escrow  shall be  instructed  to pro rate such taxes as of such date at
         closing.

      I) The mailing address for all notices which either Seller or Buyer wishes
         to give the other party is as follows:

            Seller: Old Vail  Partners,  12625 High Bluff Drive,  Suite 212, San
               Diego, CA 92130 Attn Chris Smith

            Buyer: The Price  Group,  LLC 7979  Ivanhoe  Avenue , Suite 520,  La
               Jolla, CA 92037

<PAGE>

      J) In the event of any conflict  between the  provisions of this Section 2
         and tile  remainder of the Purchase  Agreement,  the provisions of this
         section 2 shall control.

      K) Subject  to  the  Assignment  and  the  Amendments  contained  in  this
         instrument, the Purchase Agreement remains in full force and effect.

Executed as of the date first written above in San Diego County, California.

McComic Consolidated, Inc.          Old Vail Partners, a California general
Partnership

  By: /S/ Barry McComic                   By: /S/ Harold S. Elkan

   Its: President                                Its President

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