Document:

LOAN AGREEMENT

     LOAN  AGREEMENT  ("Agreement")  made as of April 28,  2000,  by and between
BRIGHT PERSONAL COMMUNICATIONS  SERVICES, LLC, an Ohio limited liability company
("Borrower") and RURAL TELEPHONE FINANCE COOPERATIVE, a South Dakota cooperative
association ("Lender").

                                    RECITALS

     WHEREAS,  Borrower has entered into a Sprint PCS Management Agreement dated
as of October 13, 1999 (hereinafter  referred to as the "Management  Agreement")
with WirelessCo,  L.P., SprintCom,  Inc. and Sprint Spectrum L.P. (collectively,
"Sprint") to provide  Personal  Communications  Services ("PCS") in such service
areas  including,  but not  necessarily  limited  to, the  Elkhart,  Fort Wayne,
Kokomo-Logansport, Marion, and South Bend-Mishawaka, Indiana and Findlay-Tiffin,
Lima, Ohio Basic Trading Areas, and part of the Battle Creek,  Benton Harbor and
Kalamazoo,  Michigan,  Dayton-Springfield,  Michigan  City-LaPorte,  Indiana and
Toledo, Ohio BTAs ("BTAs");

     WHEREAS,  Borrower  has  requested  Lender  to make  the  Loan to  Borrower
described in Schedule 1 hereto; and

     WHEREAS,  Lender is willing to make the Loan upon the terms and  conditions
set forth in this Agreement.

     NOW, THEREFORE,  for and in consideration of the mutual covenants contained
herein, Borrower and Lender do hereby agree as follows:

     I. CONSTRUCTION AND DEFINITION OF TERMS

     All  accounting  terms  not  specifically  defined  herein  shall  have the
meanings  assigned  to them  as  determined  by  generally  accepted  accounting
principles. In addition to the terms defined elsewhere in this Agreement, unless
the context otherwise requires, when used herein, the following terms shall have
the following meanings:

     "ADJUSTMENT  DATE" shall mean the termination  date for a Fixed Rate period
applicable  to a Fixed Rate Advance as selected by Borrower in  accordance  with
the terms and conditions hereunder.

     "ADVANCE" shall mean an Advance as defined in Section 2.02.

     "ANNUAL  OPERATING CASH FLOW" for any fiscal year shall mean the sum of (a)
pre-tax income, or deficit, as the case may be (excluding  extraordinary  gains,
the write-up of any asset and any investment income or loss), (b) total interest
expense  (including  capitalized,  accreted or paid-in-kind  interest),  and (c)
depreciation and amortization expense, as calculated on a consolidated basis for
the Borrower and all its  Subsidiaries,  plus any equity  capital  raised by the
Borrower  over and  above  the  corresponding  per  annum  amounts  set forth in
Schedule 1, Items 8B and C of this Agreement.

SRTFC-A3
100% RTFC Long-Term Loan
Non-RUS/RTB Borrower
Mortgage & Pledge
Rev. 06/23/98
OH 804-9001 (cwg)

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     "BUSINESS DAY" shall mean any day that Lender is open for business.

     "CASH MARGINS" for any fiscal year shall mean net income plus depreciation,
amortization  and any other  non-cash  charges,  less any  non-cash  credits and
principal  on  long-term   debt  payable  in  such  year,  as  calculated  on  a
consolidated basis for Borrower and all its Subsidiaries.

     "CERTIFIED" shall mean that the information, statement, schedule, report or
other document  required to be "Certified"  shall contain a representation  of a
duly authorized officer of Borrower that such information,  statement, schedule,
report or other document is true and correct and complete.

     "CLOSING" shall mean the first date on which funds are advanced to Borrower
hereunder.

     "COLLATERAL" shall mean the Mortgaged Property,  as such term is defined in
the Mortgage, and all proceeds, cash and non-cash, including insurance proceeds,
of the foregoing,  whether in the possession of Borrower or any other person and
certain  equity  interests  described in, and pledged to Lender  pursuant to the
Pledge Agreements.

     "COMMITMENT" shall have the meaning set forth in Schedule 1 hereto.

     "CURRENT  RATIO" for any fiscal year shall mean the ratio of total  current
assets to total current  liabilities,  as  determined by dividing  total current
assets by total current liabilities.

     "DEBT SERVICE  COVERAGE  RATIO" OR "DSC" for any fiscal year shall mean (a)
net income,  or deficit as the case may be, plus  depreciation  and amortization
expense and  interest on  long-term  debt for such fiscal  year,  divided by (b)
principal  and  interest  on  long-term  debt  payable in such fiscal  year,  as
calculated on a consolidated basis for the Borrower and all its Subsidiaries.

     "EBITDA"  for any fiscal  year shall mean net  income  plus  income  taxes,
interest expense, and depreciation and amortization  expense, as calculated on a
consolidated basis for Borrower and all its Subsidiaries.

     "EVENT OF  DEFAULT"  shall  mean any of the events  described  in Section 8
hereof.

     "EXCESS CASH FLOW" shall be calculated on a consolidated basis for Borrower
and all its  Subsidiaries  and  shall  mean net cash  flow  from  operations  as
evidenced  by  Borrower's  most  recent  audited  statement  of cash flow,  less
budgeted capital expenditures,  less budgeted principal payable on all short and
long-term  debt,  with budgeted  figures  coming from  Borrower's  operating and
capital budget for such next fiscal year as submitted to Lender.

     "FCC" shall mean the Federal  Communications  Commission  or any  successor
agency thereof.

     "FIXED RATE" shall mean the standard fixed interest rate per annum provided
for in Section 2.03 of this Agreement plus one hundred (100) basis points.

     "HORIZON"  shall  mean  Horizon  Personal  Communications,  Inc.,  an  Ohio
corporation.

     "INDEBTEDNESS"  shall include all items which would properly be included in
the  liability  section  of a  balance  sheet or in a  footnote  to a  financial
statement,   in  accordance  with  generally  accepted  accounting   principles,
including, without limitation, contingent liabilities.

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     "LEASES"  shall  mean any  lease of  property  by which  Borrower  shall be
obligated  for  rental or other  payments  which  individually  are in excess of
$50,000 per year, or in the aggregate are in excess of $1,500,000 per year.

     "LEVERAGE  RATIO"  for any  fiscal  year  shall  mean the ratio  derived by
dividing (a)  Indebtedness by (b) Annual Operating Cash Flow, as calculated on a
consolidated basis for Borrower and all its Subsidiaries.

     "LIEN" shall mean any statutory or common law consensual or  non-consensual
mortgage, pledge, security interest,  encumbrance, lien, right of set-off, claim
or charge of any kind,  including,  without limitation,  any conditional sale or
other title retention  transaction,  any lease transaction in the nature thereof
and  any  secured   transaction  under  the  Uniform   Commercial  Code  of  any
jurisdiction.

     "LOAN" shall mean the loan or loans by the Lender to Borrower,  pursuant to
this Agreement and the Note, in an aggregate  principal amount not to exceed the
Commitment.

     "MAKE-WHOLE  PREMIUM"  shall mean the  excess,  if any,  of (a) the present
value of the amount of interest  that would have accrued  during the  applicable
Fixed Rate period on that  portion of the Loan to be prepaid or  converted  over
(b) the  present  value of the  amount of  interest  Lender  would  earn if that
portion of the Loan to be prepaid or converted was  reinvested for the remainder
of the applicable Fixed Rate period in U.S. Treasury obligations with a maturity
comparable  to the  remaining  term of the  applicable  Fixed Rate  period.  For
purposes of  calculating  the present  value in (a) and (b) above,  the discount
rate will be the rate of interest accruing on the U.S.  Treasury  obligations in
(b) above.

     "MASTER SITE  AGREEMENT"  shall mean that certain  Master Site Agreement by
and between  Borrower  and SBA,  dated as of October 1, 1999,  and  submitted to
Lender.

     "MATURITY DATE" shall mean the maturity date defined in the Note.

     "MINIMUM NET WORTH TEST" shall be  calculated on a  consolidated  basis for
the Borrower and all its  Subsidiaries,  and shall mean an equity to total asset
ratio of at least forty percent (40%). Equity shall be determined by subtracting
total liabilities from total assets.

     "MORTGAGE"  shall mean the  mortgage and  security  agreement  described in
Schedule 1.

     "NET WORTH" shall be  calculated on a  consolidated  basis for the Borrower
and all its  Subsidiaries  taken as a whole and arrived at by subtracting  total
liabilities from total assets.

     "NOTE" shall mean the promissory note  designated OH 804-9001  executed and
delivered by Borrower at or prior to Closing pursuant to Section 5.02(a) hereof,
and all renewals, replacements and extensions thereof.

     "OBLIGATIONS"  shall  include  the full  and  punctual  performance  of all
present and future duties,  covenants and  responsibilities due to the Lender by
Borrower under this Agreement,  the Note, the Other Agreements,  all present and
future obligations of Borrower to the Lender for the payment of money under this
Agreement,  the Note, the Other Agreements,  extending to all principal amounts,
interest,  late charges and all other charges and sums, as well as all costs and
expenses  payable  by  Borrower  under  this  Agreement,  the  Note,  the  Other
Agreements,  and any and all other present and future  monetary  liabilities  of
Borrower to the Lender, whether direct or indirect, contingent or noncontingent,

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matured or  unmatured,  accrued or not  accrued,  related or  unrelated  to this
Agreement,  whether  or  not  of the  same  character  or  class  as  Borrower's
obligations under this Agreement and the Note,  whether or not secured under any
other document,  instrument or statutory or common law provision, as well as all
renewals, refinancings,  consolidations, recastings and extensions of any of the
foregoing.

     "OPERATING  AGREEMENT" shall mean the Operating Agreement of Borrower dated
as of September 23, 1999,  as amended by Amendment No. 1 to Operating  Agreement
of Borrower  dated as of September 23, 1999, and by Amendment No. 2 to Operating
Agreement of Borrower dated as of ______________, 2000 and submitted to Lender.

     "OTHER  AGREEMENTS"  shall  mean  any and all  promissory  notes,  security
agreements,  assignments,  subordination  agreements,  pledge  or  hypothecation
agreements,   mortgages,   deeds  of  trust,  leases,   contracts,   guaranties,
instruments  and  documents now and  hereafter  existing  between the Lender and
Borrower,  executed and/or delivered pursuant to this Agreement or guaranteeing,
securing or in any other manner relating to any of the  Obligations,  including,
the instruments and documents referred to in Section 5.02 hereof.

     "PAYMENT DATE" shall mean the last day of each of the months referred to in
Schedule 1 hereto.

     "PAYMENT NOTICE" shall mean the notice furnished to the Borrower  quarterly
indicating  the precise  amount of  principal  and/or  interest  due on the next
ensuing  Payment Date,  such notice to be sent to the Borrower at least ten (10)
days before such Payment Date.

     "PERSON"  shall  include  natural  persons,   corporations,   associations,
partnerships,  joint ventures,  trusts, governments and agencies and departments
thereof, and every other entity of every kind.

     "PLEDGE  AGREEMENTS" OR "PLEDGES" shall mean  collectively,  the Pledge and
Security Agreements by and between the Pledgors and Lender dated as of even date
herewith.

     "PLEDGORS"  shall  mean  individually  and  collectively,   The  Ayersville
Telephone Company, The Benton Ridge Telephone Company,  Bright Choice, Inc., Com
Net,  Inc.,  The  Doylestown  Telephone  Company,  The Fort  Jennings  Telephone
Company,  Glandorf  Telephone  Company,  Inc.,  Horizon,  The  Kalida  Telephone
Company,  The Middlepoint Home Telephone  Company,  The New Knoxville  Telephone
Company, Reach of Ohio, Inc., The Ridgeville Telephone Company,  Sherwood Mutual
Telephone  Association,   Inc.,  Telephone  Service  Company,  The  Vaughnsville
Telephone Company and Wabash Communications, Inc.

     "PURCHASE  AGREEMENT"  shall  mean that  certain  PCS CDMA  Product  Supply
Contract by and between Borrower and Vendor dated as of December 8, 1999, as the
same may be amended or supplemented from time to time, and submitted to Lender.

     "SBA" shall mean SBA Towers, Inc., a Florida corporation.

     "SERVICES  AGREEMENT"  shall mean that  certain  Services  Agreement by and
between  Borrower  and Horizon  dated as of October 13, 1999,  and  submitted to
Lender.

     "SUBORDINATED  CAPITAL  CERTIFICATE"  OR "SCC"  shall  mean a  subordinated
certificate  representing an investment in the Lender  purchased by the Borrower
in connection with the Loan.

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     "SUBSIDIARY" at any time means any entity which is at the time beneficially
owned or controlled directly or indirectly by the Borrower,  by one or more such
entities or by the Borrower and one or more such entities.

     "TERMINATION  DATE"  shall  mean that date which is four (4) years from the
date hereof.

     "TOWER  AGREEMENTS" shall mean  individually and  collectively,  the Master
Site  Agreement and that certain  Master  Design Build  Agreement by and between
Borrower and SBA, dated as of October 1, 1999, and submitted to Lender.

     "VARIABLE RATE" shall mean the standard  monthly  variable rate established
by the  Lender  from  time to time  for  long-term  loans  similarly  classified
pursuant to Lender's  policies and procedures  then in effect,  plus one hundred
(100)  basis  points.  The  Variable  Rate as of the date of this  Agreement  is
_____%.

     "VENDOR  GUARANTOR"  OR  "VENDOR"  shall mean  Motorola,  Inc.,  a Delaware
corporation.

     2. LOAN

     2.01 LOAN. The Lender agrees to make the Loan to Borrower subject to all of
the terms and conditions of this Agreement and the Other Agreements.

     2.02  ADVANCES.  The  Lender  agrees to make,  and the  Borrower  agrees to
request,  on the terms and conditions of this  Agreement,  Advances from time to
time at the office of the Lender in Herndon, Virginia, or at such other place as
the Lender may designate, not to exceed the Commitment;  provided, however, that
Lender  shall not be obligated to make any further  Advances  hereunder  for the
build-out of Borrower's PCS system until Borrower provides Lender with copies of
its then-existing  leasehold agreements and pole attachment  agreements,  if any
(collectively,  the  "Cell  Site  Agreements")  and site  lease  acknowledgments
executed  by and  between  the  Borrower  and SBA  pursuant  to the Master  Site
Agreement   (collectively,   the  "SLAs"),  in  form  and  substance  reasonably
satisfactory  to  Lender.  The  Borrower  shall give the Lender at least two (2)
Business  Days prior  written  notice of the date on which each Advance is to be
made. On the  Termination  Date, the Lender may stop advancing  funds and reduce
the Commitment to the aggregate amount theretofore  advanced.  The obligation of
the Borrower to repay the Advances shall be evidenced by the Note.

     2.03 PAYMENT, AMORTIZATION AND INTEREST RATE.

     (a)  Payment.  The  Borrower  shall  pay on  each  Payment  Date  quarterly
installments,  in an amount as calculated by the Lender in accordance  with this
Agreement,  of principal and/or interest as shown in the Payment Notice,  except
that,  if not sooner  paid,  any balance of the  principal  amount and  interest
accrued  thereon and all other amounts due hereunder shall be due and payable on
the Maturity  Date.  Payment of principal  hereunder  shall commence 16 quarters
after  the  first  full  quarter  following  the  initial  Advance  of  funds in
accordance  with the  repayment  schedule  as set forth in  Schedule 1 and shall
continue to be made on each  subsequent  Payment Date until the Maturity Date or
such earlier date as all amounts due  hereunder and on account of the Note shall
have been paid in full.  Payment of interest  hereunder  is due on each  Payment
Date in which a principal balance is outstanding. Principal will be amortized in
accordance with the method stated in Schedule 1 hereto.

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     At the Lender's option, all payments shall be applied first to late payment
charges due, as hereinafter  provided,  then to interest  accrued to the date of
such payment, and then to the reduction of principal balance outstanding.

     No provision of this  Agreement or the Note shall  require the payment,  or
permit the  collection,  of interest in excess of the highest rate  permitted by
applicable law.

     (b) Interest  Rate.  Each Advance  shall be initially  made at the Variable
Rate.  Interest  shall be computed from the actual number of days elapsed on the
basis of a year of 365 days until the first  Payment Date  following the initial
Advance.  Thereafter,  interest  shall  continue to be  computed  for the actual
number of days elapsed on the basis of a year of 365 days unless a Fixed Rate is
applicable to the Loan, in which case interest shall be computed on the basis of
a 30-day  month and  360-day  year.  Notwithstanding  anything  to the  contrary
herein,  the  total  amount of  Borrower's  Fixed  Rate  debt at any given  time
hereunder shall not exceed fifty percent (50%) of the Commitment.

          (i)  Variable  Rate. If Advances are made at the Variable  Rate,  such
               Variable  Rate shall apply  until the  Maturity  Date,  except as
               provided herein below.

          (ii) Fixed Rate. If the Borrower  elects a Fixed Rate, such Fixed Rate
               as is  available  and in effect  for loans  similarly  classified
               pursuant to Lender's  policies and  procedures  then in effect at
               the time of the election  shall apply to such  Advance  until the
               Adjustment  Date.  Upon  notice  given by the  Borrower  five (5)
               Business Days prior to such Adjustment  Date,  Borrower may elect
               to reset the interest rate to such Fixed Rate as is available and
               in effect at the time of such  Adjustment  Date. Such reset Fixed
               Rate shall  apply to that  portion of the  outstanding  principal
               balance  of the  Loan  elected  to have a  Fixed  Rate  from  the
               Adjustment Date until a new Adjustment Date or the Maturity Date.
               If Borrower does not elect to reset the Fixed Rate,  the Variable
               Rate shall apply to the outstanding principal balance of the Loan
               that had been  bearing  interest  at the Fixed Rate prior to such
               Adjustment Date, from such Adjustment Date to the Maturity Date.

          (iii) Conversion to Different Interest Program.

          (A)  Variable Rate to Fixed Rate.  Subject to the conditions set forth
               herein,  the Borrower  may convert from the Variable  Rate to the
               Fixed  Rate  for  a  portion  of  the  principal  amount  of  the
               Commitment  then  outstanding  at any time  provided  the  Lender
               offers a Fixed  Rate at such time,  subject to the fifty  percent
               (50%) Fixed Rate debt limitation set forth above.

          (B)  Fixed Rate to Variable  Rate.  The  Borrower  may convert  from a
               Fixed Rate to the Variable Rate: (1) on an Adjustment Date or (2)
               at any other time,  provided  that the Borrower  shall pay Lender
               any applicable Make-Whole Premium.

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     2.04 PREPAYMENTS.

     (a) Optional  Prepayment.  If the Loan bears  interest at the Variable Rate
the Borrower may opt to prepay the Loan or any portion thereof,  as the case may
be, at any time subject to the terms hereof and provided that the Borrower shall
pay a prepayment fee in an amount  established by Lender, up to maximum of fifty
(50) basis points times the amount being prepaid.  If the Loan bears interest at
the Fixed Rate, the Borrower may opt to prepay the Loan on an Adjustment Date or
any such other date provided that the Borrower  shall pay a prepayment fee in an
amount  established by Lender,  up to a maximum of fifty (50) basis points times
the amount being prepaid plus any applicable Make-Whole Premium. All prepayments
shall be accompanied by payment of accrued and unpaid  interest on the amount of
and to the date of the  prepayment.  All  prepayments  shall be applied first to
fees,  second to the  payment of accrued  and unpaid  interest,  and then to the
unpaid balance of the principal amount of the Loan.

     (b) Mandatory Prepayment. Beginning once Borrower's audited fiscal year-end
EBITDA is  greater  than  zero,  Lender  shall  have the  option,  to be elected
annually,  to require Borrower to make annual mandatory  prepayments of the Loan
in an amount equal to fifty percent (50%) of Borrower's  Excess Cash Flow within
120 days of the close of Borrower's fiscal year. All mandatory prepayments shall
be applied first to fees,  second to the payment of accrued and unpaid interest,
and then  pro-ratably to the unpaid balance of the principal  amount of the Loan
or any other  loans by and  between  Borrower  and  Lender in  inverse  order of
Maturity  Date. All mandatory  prepayments  shall not be subject to a prepayment
fee as long as the amount prepaid bears a Variable Rate.

     2.05 5% SUBORDINATED CAPITAL CERTIFICATES. The Borrower shall purchase SCCs
which in the  aggregate  shall not  exceed the amount  specified  in  Schedule 1
hereto.  Unless  otherwise  requested  in writing by the  Borrower  prior to the
initial Advance and approved by the Lender, the Borrower agrees to purchase SCCs
with each Advance in the amount of five percent (5%) of each such  Advance,  and
each such SCC shall be paid for with proceeds of such Advance. The Lender agrees
to deliver the SCCs on or about the date on which the SCCs have been paid for in
full.  The SCCs shall bear no interest and shall mature in  accordance  with the
terms thereof.

     3. SECURITY

     As  security  for the payment and  performance  of all of the  Obligations,
Borrower has (a) entered into the Mortgage pledging and granting to the Lender a
prior and continuing  security interest in the Collateral that may be secured by
the Mortgage that shall  continually  exist until all Obligations have been paid
in full; (b) had the Pledgors execute the Pledge Agreements with Lender pursuant
to which such  Pledgors  pledged  certain  interests as described  therein;  (c)
obtained  an  unsecured  guaranty  in  amounts,  form and  substance  reasonably
satisfactory  to Lender,  from the Vendor  Guarantor;  (d) provided a collateral
assignment,  in form and substance  reasonably  satisfactory  to Lender,  of the
Purchase Agreement, (e) provided a collateral assignment,  in form and substance
reasonably  satisfactory to Lender,  of the Services  Agreement,  (f) provided a
collateral assignment,  in form and substance reasonably satisfactory to Lender,
of the Tower Agreements;  and (g) provided collateral  assignments,  in form and
substance  reasonably  satisfactory  to  Lender,  of all of its  other  material
operating contracts.  If reasonably required by the Lender at any time, Borrower
shall make  notations,  satisfactory  to the  Lender,  on its books and  records
disclosing the existence of the Lender's  security  interest in the  Collateral.
Borrower agrees that, with respect to the Collateral which is subject to Article
9 of the Uniform  Commercial Code, the Lender shall have, but not be limited to,

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all the rights and  remedies of a secured  party  under the  Uniform  Commercial
Code.  The Lender shall have no liability  or duty,  either  before or after the
occurrence of an Event of Default hereunder, on account of loss of or damage to,
or to collect  or  enforce  any of its rights  against,  the  Collateral,  or to
preserve  any  rights  against  account  debtors  or other  parties  with  prior
interests in the Collateral.

     4. REPRESENTATIONS AND WARRANTIES

     To induce the Lender to enter into this Agreement,  Borrower represents and
warrants to the Lender as of the date of this Agreement that:

     4.01 GOOD STANDING. Borrower is a limited liability company duly organized,
validly  existing  and in good  standing  under  the  laws of the  state  of its
organization, has the power to own its property and to carry on its business, is
duly qualified to do business,  and is in good standing in each  jurisdiction in
which the transaction of its business makes such qualification necessary.

     4.02  AUTHORITY.  Borrower has requisite  power and authority to enter into
this Agreement and the Mortgage,  to make the borrowings  hereunder,  to execute
and deliver all documents and  instruments  required  hereunder and to incur and
perform the  obligations  provided for herein,  in the Mortgage and in the Note,
all of which have been duly authorized by all necessary and proper corporate and
other  action,  and no consent or  approval of any  person,  including,  without
limitation,  the Vendor  Guarantor and any public  authority or regulatory body,
which has not been  obtained  is  required  as a  condition  to the  validity or
enforceability hereof or thereof.

     4.03 BINDING AGREEMENT.  This Agreement has been duly and properly executed
by Borrower,  constitutes the valid and legally  binding  obligation of Borrower
and is fully enforceable against Borrower in accordance with its terms,  subject
only to laws  affecting  the rights of  creditors  generally,  the  exercise  of
judicial  discretion in accordance with general  principles of equity or because
waivers of statutory or common law rights or remedies may be limited.

     4.04 NO CONFLICTING AGREEMENTS. The execution,  delivery of and performance
by Borrower of this Agreement,  the Mortgage and the Note, and the  transactions
contemplated hereby or thereby,  will not: (a) violate any provision of law, any
order, rule or regulation of any court or other agency of government,  any award
of any  arbitrator,  the  articles of  organization  or  operating  agreement of
Borrower,  or any indenture,  contract,  agreement,  mortgage,  deed of trust or
other  instrument  to  which  Borrower  is a party  or by which it or any of its
property  is  bound;  or (b) be in  conflict  with,  result  in a  breach  of or
constitute  (with due notice  and/or  lapse of time) a default  under,  any such
award,  indenture,  contract,  agreement,  mortgage,  deed  of  trust  or  other
instrument,  or result in the  creation  or  imposition  of any Lien (other than
contemplated hereby) upon any of the property or assets of Borrower.

     4.05  LITIGATION.  There  are  no  judgments,  claims,  actions,  suits  or
proceedings  pending or, to the  knowledge  of Borrower,  threatened  against or
affecting  Borrower or its  properties,  at law or in equity or before or by any
federal, state, municipal or other governmental department,  commission,  board,
bureau,  agency or  instrumentality,  which may result in any  material  adverse
change in the business,  operations,  prospects,  properties or assets or in the
condition,  financial or  otherwise,  of  Borrower,  and Borrower is not, to its
knowledge,  in default with respect to any judgment,  order,  writ,  injunction,
decree,  rule or regulation of any court or federal,  state,  municipal or other
governmental department,  commission,  board, bureau, agency or instrumentality,
domestic or foreign, which would have a material adverse effect on Borrower.

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<PAGE>

     4.06 FINANCIAL  CONDITION.  The financial  statements,  business plans, and
other materials  submitted by Borrower in connection with the proposed financing
hereunder as delivered to Lender up to the date of this  Agreement,  are, in all
material  respects,  complete  and  correct  and fairly  present  the  financial
condition, and as to business plans,  management's best intentions,  assumptions
and projections as of the date thereto submitted, of the Borrower.  There are no
material liabilities of the Borrower,  direct or indirect,  fixed or contingent,
as of the date of such  statements  or business  plans  which are not  reflected
therein. There has been no material adverse change in the financial condition or
operations of the Borrower from that set forth in said  financial  statements or
business  plans  except  changes  previously  disclosed in writing to the Lender
prior to the date hereof.

     4.07 TAXES.  Borrower has paid or caused to be paid all federal,  state and
local taxes to the extent that such taxes have become due,  unless the  Borrower
is  contesting  in good faith any such tax.  Borrower  has filed or caused to be
filed all federal, state and local tax returns which are required to be filed by
Borrower.

     4.08 TITLE TO PROPERTIES.  Borrower has good and marketable title to all of
its real property and owns all of its other properties and assets, including the
Collateral,  free and clear of any liens, except for those liens which have been
specifically acknowledged by Lender under Section 3.02 of the Mortgage.

     4.09  LICENSES  AND PERMITS.  Borrower has duly  obtained and now holds all
licenses, permits,  certifications,  approvals and the like necessary to own and
operate  their  property  and business  that are required by federal,  state and
local laws of the jurisdictions in which Borrower conducts its business and each
remains valid and in full force and effect.

     4.10  SUBSIDIARIES.  Borrower has no Subsidiaries  other than  Subsidiaries
heretofore  disclosed to the Lender,  or hereafter  formed or acquired  with the
prior written consent of the Lender.

     4.11 CERTAIN  INDEBTEDNESS.  There is no  Indebtedness of Borrower owing to
any employee,  officer, member or member of the management committee of Borrower
other than (a) accrued  salaries,  commissions and the like, and (b) obligations
under the Services Agreement.

     4.12 LOCATION OF OFFICE. The chief executive office of the Borrower and the
office where its records  concerning  accounts  and contract  rights are kept is
identified in Schedule 1 hereto.

     4.13 REQUIRED  APPROVALS.  No license,  consent,  permit or approval of any
governmental  agency or  authority  is required to enable the  Borrower to enter
into this  Agreement  or to perform any of its  obligations  provided for herein
except as disclosed  on Schedule 1 hereto and except with respect to  regulatory
approvals which may be required in connection  with the Lender's  enforcement of
certain remedies hereunder.

     4.14 ERISA.  Each pension plan of Borrower and its  Subsidiaries  providing
benefits for employees of Borrower or such Subsidiary covered by Title IV of the
Employee Retirement Income Security Act of 1974, as amended, and the regulations
thereto ("ERISA"),  is in compliance with ERISA in all material respects, and no
material liability to the Pension Benefit Guaranty  Corporation ("PBGC") or to a
multiemployer  plan has been, or is expected by Borrower or its  Subsidiaries to
be, incurred by Borrower or such Subsidiaries.

                                       9
<PAGE>

     5. CONDITIONS OF LENDING

     The Lender shall have no obligation to make the initial Advance to Borrower
hereunder  unless, as of the date of Closing,  each of the following  conditions
precedent shall be satisfied as provided below:

     5.01 LEGAL MATTERS.  All legal matters  incident to the consummation of the
transactions hereby contemplated shall be reasonably satisfactory to counsel for
the Lender and to such local counsel as counsel for the Lender may retain.

     5.02  DOCUMENTS.  There  shall have been  delivered  to the  Lender,  fully
completed  and  duly  executed  (when  applicable),  the  following,  reasonably
satisfactory to the Lender and its counsel:

     (a) This Agreement and the Note.

     (b) Certified copies of all such  organizational  documents and proceedings
of the Borrower authorizing the transactions herein contemplated.

     (c) A written opinion from Borrower's and each Pledgor's counsel addressing
such legal matters as the Lender or its counsel shall reasonably require.

     (d) The Borrower  shall have (i) executed  the  Mortgage;  (ii) if any real
property is owned by Borrower,  recorded a valid and binding  Mortgage  granting
Lender  a first  lien in all  real  property  owned  by  Borrower;  (iii)  filed
financing  statements in all  jurisdictions  necessary to provide Lender a first
priority,  perfected  security interest in all Collateral which may be perfected
by the filing of financing  statements;  and (iv) delivered such other documents
as are necessary to create or continue a perfected security interest in favor of
the Lender in the Collateral.

     (e) The Pledge Agreements.

     (f) An unsecured  guaranty in amount,  form and substance  satisfactory  to
Lender, from the Vendor Guarantor.

     (g) A  collateral  assignment  of the  Purchase  Agreement  and  all  other
material operating and management contracts.

     (h) A collateral assignment of the Services Agreement.

     (i) A collateral assignment of the Tower Agreements.

     (j) A Consent and  Agreement by and among  Borrower,  its members,  Lender,
Vendor  Guarantor and Sprint setting forth the rights and remedies  available to
the parties in the event of a default  under the  Management  Agreement  or this
Agreement.

     (k)  Copies of the Cell Site  Agreements  and SLAs in effect at the time of
Closing for those sites where Borrower intends to build out its PCS system.

     5.03 GOVERNMENT APPROVALS.  The Borrower shall have furnished to the Lender
true and  correct  copies  of all  certificates,  authorizations  and  consents,
including  without  limitation the consents  referred to in Section 4.13 hereof,
necessary for the  execution,  delivery or  performance  by the Borrower of this
Agreement, the Note and the Mortgage.

                                       10
<PAGE>

     5.04 REPRESENTATIONS, WARRANTIES AND MATERIAL CHANGE. At Closing and at the
date of every subsequent Advance hereunder,  all covenants,  representations and
warranties  set forth in this  Agreement  shall be true and correct on and as of
such time with the same effect as though  such  covenants,  representations  and
warranties  had been made on and as of such date; no Event of Default  specified
in Section 8 and no event which,  with the lapse of time or the giving of notice
and lapse of time  specified in Section 9 would become such an Event of Default,
shall have occurred and be continuing or will have occurred  after giving effect
to the  Advance  on the books of the  Borrower;  there  shall have  occurred  no
material  adverse  change in the business or  condition,  financial or otherwise
from the most recent financial  statements submitted to Lender prior to the date
of this  Agreement  by  Borrower  in  connection  with  the  proposed  financing
hereunder, of the Borrower or the Vendor Guarantor.

     5.05 MORTGAGE  FILING.  Within ten (10) days of acquiring any real property
or  fixtures,  the Borrower  shall cause the  Mortgage to be duly  recorded as a
first  mortgage  on all real  property  and the  Mortgage  or other  appropriate
documentation  shall  have been duly  filed,  recorded  or indexed as a security
interest  in  personal  property  wherever  the  Lender  shall  have  reasonably
requested,  all in accordance  with  applicable law, and the Borrower shall have
caused satisfactory evidence thereof to be furnished to the Lender.

     5.06  SPECIAL  CONDITIONS.  At Closing and at the time of every  subsequent
Advance hereunder, the Lender and its counsel shall be reasonably satisfied that
the  Borrower  has  complied  and will  continue  to  comply  with  any  special
conditions identified in Schedule 1 hereto.

     5.07  REQUISITIONS.  The  Borrower  will  request  Advances  by  submitting
requisitions  to Lender in the form set forth in Exhibit A  attached  hereto and
made a part hereof. Pursuant to the terms and conditions hereof, the Lender will
wire the  proceeds  of the  requested  Advance to an account as  directed by the
Borrower.

     6. AFFIRMATIVE COVENANTS

     Borrower  covenants  and  agrees  with the  Lender  that,  until all of the
Obligations have been paid in full, Borrower will:

     6.01 MEMBERSHIP.  Remain,  or Horizon will remain, a member or an affiliate
of a member in good standing of the Lender.

     6.02  FINANCIAL  REPORTS  AND  OTHER  INFORMATION.  Furnish,  in  form  and
substance  reasonably  satisfactory to Lender: (a) a full and complete report of
Borrower's and its Subsidiaries'  consolidated financial condition at least once
during each  12-month  period  during the term hereof but in no event later than
120 days after the end of each fiscal year of Borrower,  which shall include (i)
annual  financial  statements  prepared on a  consolidated  basis and audited by
independent public accountants selected by Borrower and reasonably acceptable to
Lender,  accompanied by an opinion of such accountants  reasonably acceptable to
Lender, and (ii) unaudited annual consolidating financial statements of Borrower
and its Subsidiaries;  (b) unaudited quarterly financial  statements of Borrower
and its  Subsidiaries  prepared on a  consolidated  basis which shall  include a
balance  sheet,  a statement  of income and a  statement  of cash flows for such
quarter  and  year-to-date  with  comparisons  to budget  for such  quarter  and
year-to-date,  within 60 days after the end of each fiscal  quarter of Borrower;
(c) quarterly  management or statistical reports which shall include subscriber,

                                       11
<PAGE>

penetration,  coverage and other operating statistics,  within 60 days after the
end of each fiscal quarter of Borrower;  (d) an operating budget, capital budget
and updated 10-year financial projections, prior to the beginning of each fiscal
year of Borrower;  (e) such other information,  reports or statements concerning
the operations,  business affairs and/or financial condition of Borrower and its
Subsidiaries  as the Lender may  reasonably  request from time to time;  and (f)
promptly  upon  their  becoming  available,  information  regarding  any and all
material  changes  or  modifications  of  licenses,   permits,   certifications,
approvals and the like  necessary for Borrower to own or operate its business or
a substantial part of its business.

     6.03 FINANCIAL  BOOKS;  LENDER RIGHT OF INSPECTION.  At all times keep, and
safely  preserve,  proper  books,  records  and  accounts in which full and true
entries  will  be made  of all of the  dealings,  business  and  affairs  of the
Borrower,  in  accordance  with methods of  accounting  prescribed  by the state
regulatory body having jurisdiction over the Borrower, or in the absence of such
regulatory body or such prescription, by the FCC or in accordance with generally
accepted  accounting  principles.  Upon reasonable  notice to the Borrower,  the
Lender,  through  its  representatives,  shall at all  times  during  reasonable
business  hours have access to, and the right to inspect and make copies of, any
or all books, records and accounts, and any or all invoices,  contracts, leases,
payrolls,  canceled  checks,  statements and other documents and papers of every
kind  belonging to or in  possession  of the Borrower and its  Subsidiaries  and
pertaining to the Borrower's and its Subsidiaries' property or business, for the
sole purpose of determining  compliance by the Borrower of its obligations under
this Agreement.

     6.04 FINANCIAL COVENANTS. To operate its business as to achieve on the last
day of each fiscal year ending December 31st, the thresholds set forth below.

     (a) Annual Cash Flow:  Borrower  shall achieve annual cash flow as measured
by (i) EBITDA plus (ii) any equity capital raised by the Borrower over and above
the  corresponding  per annum amounts set forth in Schedule 1, Items 8B and C of
this Agreement, in amounts in excess of:

         2000               N/A          2002                    $   220,000
         2001               N/A          2003                    $ 7,780,000
                                         2004 and                $15,580,000
                                         thereafter

     (b) Covered POPs: Borrower shall design and build-out its PCS network so as
to  achieve  coverage  percentages  based  on the  total  number  of  population
equivalents  ("POPs")  covered by Sprint's  FCC  licensed or  partitioned  areas
operated by Borrower  equal to or greater than the  percentages  established  as
follows:

         2000               70.0%
         2001 and           74.6%
         thereafter

     (c) Wireless  Subscribers:  Borrower shall have total wireless  subscribers
equal to or greater than the numbers established as follows:

         2000                8,400        2002           51,100
         2001               29,600        2003           72,900
                                          2004 and       94,900
                                          thereafter

                                       12
<PAGE>

     (d) Debt Service Coverage Ratio:  Borrower shall achieve a DSC of an amount
that exceeds the ratio set forth below:

         2000               N/A           2003            1.0:1.0
         2001               N/A           2004 and        1.25:1.0
         2002               0.10:1.0      thereafter

     (e) Leverage  Ratio:  Borrower  shall achieve a Leverage Ratio of an amount
not exceeding the ratio set forth below:

         2000               N/A           2003            6.0:1.0
         2001               N/A           2004 and        4.0:1.0
         2002               N/A           thereafter

     6.05 ANNUAL  CERTIFICATE.  Within 120 days after the close of each calendar
year, commencing with the year in which the initial Advance hereunder shall have
been made,  deliver to the Lender a written  statement  signed by the president,
chief  executive  officer or chairman  stating that to the best of said person's
knowledge,  the  Borrower  has  fulfilled  all of  its  Obligations  under  this
Agreement, the Note, and the Mortgage throughout such year or, if there has been
a default  in the  fulfillment  of any such  Obligations,  specifying  each such
default known to said person and the nature and status thereof.

     6.06 USE OF PROCEEDS.  Use Advances made  hereunder and under the Note only
for the  purposes  identified  in  Schedule 1 hereto and for the  payment of the
costs,  expenses and fees  incident to this  Agreement  and for no other purpose
whatsoever without the prior written consent of the Lender.

     6.07 SPECIAL AFFIRMATIVE COVENANTS.  During the term hereof, Lender and its
counsel  shall be  fully  satisfied  that the  Borrower  has  complied  and will
continue to comply with any special affirmative covenants identified in Schedule
1 hereto.

     7. NEGATIVE COVENANTS

     7.01 NOTICE.  Borrower  covenants  and agrees with the Lender that Borrower
will not,  directly or  indirectly,  without giving written notice to the Lender
thirty (30) days prior to the effective date of any change:

     (a) Change Location of Chief Executive  Office.  Change the location of the
Borrower's chief executive office.

     (b) Change of Name. Change the name of Borrower.

     7.02 CONSENT.  Borrower  covenants and agrees with the Lender that Borrower
and its Subsidiaries will not, directly or indirectly, without the prior written
consent of the Lender,  or in the case of  additional  indebtedness  pursuant to
Section  7.02(c) below,  without the prior written consent of the Lender and the
Vendor:

     (a) Control. Merge, consolidate,  liquidate,  alter or permit alteration of
control of the  Borrower,  except for those  change of control  events which are
contemplated  by  the  Services  Agreement.  Control  shall  be  as  defined  by
regulations for PCS companies issued by the FCC.

                                       13
<PAGE>

     (b)  Subsidiaries/Line  of Business.  Form or acquire any  Subsidiaries  or
engage in any other business besides that of the telecommunications business.

     (c) Additional  Indebtedness.  Borrow money on a secured or unsecured basis
from any other lender or incur any additional secured or unsecured Indebtedness;
or enter into or allow any of its Subsidiaries to enter into any Leases,  unless
at that time  Borrower  meets the  Minimum Net Worth  Test;  provided,  however,
Borrower and its Subsidiaries  may grant purchase money secured  indebtedness or
incur unsecured trade debt or pay other current operating liabilities that arise
in the ordinary  course of business so long as the aggregate  total of such debt
does not exceed ten percent (10%) of Borrower's  consolidated  total assets.  If
Borrower  meets the Minimum Net Worth Test,  then Borrower and its  Subsidiaries
may incur  additional  Indebtedness  or enter into Leases  without prior written
approval of Lender  provided the Borrower meets the Minimum Net Worth Test after
incurring such additional  Indebtedness or entering into such Leases;  provided,
further, however, Borrower must give at least thirty (30) days written notice to
Lender prior to it or its Subsidiaries incurring or entering into any additional
Leases or term loans,  guarantees,  lines of credit, or other third-party credit
facilities.

     (d) Material Contracts.  Terminate,  materially amend, modify or assign its
rights  under  the  Purchase  Agreement,  the  Tower  Agreements,  the  Services
Agreement, the Management Agreement or any other material contracts or operating
agreements.

     7.03 DIVIDENDS AND OTHER CASH DISTRIBUTIONS.  The Borrower will not, in any
one fiscal year, without the prior approval in writing of the Lender (a) declare
or pay any dividends or make any other  distribution to its members with respect
to its  membership  interests;  (b)  purchase  or redeem  or  retire  any of its
membership interests; or (c) pay any management fees other than those being paid
pursuant to the  Services  Agreement  or pay any  increase in  management  fees,
unless  with  respect  to any of the  foregoing  (after  giving  effect  to such
transaction)  (1) (a) Borrower  maintains a Current Ratio of not less than 1.25;
and (b)  Borrower  meets  the  Minimum  Net  Worth  Test  -or- (2) (a)  Borrower
maintains  a Current  Ratio of not less than  1.25;  (b)  Borrower  maintains  a
minimum Net Worth to total assets of not less than twenty-five percent (25%) and
(c) the  payment  of such  dividend,  the  making of such  distribution,  or the
purchase, redemption or retirement of such membership interests, individually or
in the aggregate,  does not exceed twenty-five percent (25%) of the prior fiscal
year-end Cash Margins in any one fiscal year.  Notwithstanding the foregoing, in
no event may the  Borrower  make such a  distribution  or payment  (i) while the
guaranty  from the Vendor  Guarantor is in effect,  or (ii) when there is unpaid
any due installment of principal  and/or interest on the Note or if the Borrower
is otherwise in material  default of any provision of this Agreement or would be
in  material  default  hereunder  as a result of such  distribution  or payment.
Further  notwithstanding  the  foregoing,  and  notwithstanding  anything to the
contrary contained in the Services Agreement, upon the occurrence of an Event of
Default  hereunder which has not been cured within any applicable  grace period,
Lender may, at its option, (i) restrict payments under the Services Agreement by
Borrower  to Horizon to  cost-based  reimbursements  upon five (5) days  written
notice to Borrower and Horizon,  or (ii)  terminate the Services  Agreement upon
thirty (30) days written notice to Horizon.

     7.04  LIMITATIONS ON CONTRACTS;  DEPOSITS OF FUNDS.  The Borrower will not,
without the  approval in writing of the Lender:  (a) enter into any  contract or
contracts  (i) for  management of its business or any  substantial  part thereof
other than the Services Agreement;  (ii) for the operation or maintenance of all
or any substantial  part of its property other than the Services  Agreement,  or

                                       14
<PAGE>

(iii)  for the use by  others of any of the  Collateral  in excess of  $100,000;
provided,  however,  that such  approval  shall not be required for any contract
less than  $100,000  which in form and  substance  substantially  conforms  with
contracts  in general use in the  Borrower's  industry by  companies of size and
character similar to Borrower or which substantially  conform to contracts which
are  currently in existence  that  Borrower is a party to; or (b) deposit any of
its funds, regardless of the source thereof, in any bank which is not insured by
the Federal Deposit Insurance Corporation or the successor thereof.

     7.05 LIMITATIONS ON LOANS, INVESTMENTS AND OTHER OBLIGATIONS.  The Borrower
will not, without the written approval of the Lender, hereafter make any loan or
advance to, or make any  investment  in, or purchase or make any  commitment  to
purchase any stock, bonds, notes or other securities of, or guaranty,  assume or
otherwise  become  obligated or liable with respect to the  obligations  of, any
person,  firm  or  corporation,   except  (a)  securities  or  deposits  issued,
guaranteed or fully insured as to payment by the United States Government or any
agency thereof;  (b) Subordinated Capital Certificates or other certificates and
securities  of the Lender or of National  Rural  Utilities  Cooperative  Finance
Corporation;  (c)  investments  and  obligations  of  institutions  whose senior
unsecured  debt  obligations  are  rated by at least two  nationally  recognized
ratings  organizations  in  either  of  its  two  highest  categories;  and  (d)
investments incidental to loans made by Lender.

     7.06 SALE OF ASSETS.  The Borrower and any  Subsidiary  of the Borrower may
not, without prior written  approval of the Lender,  sell, lease or transfer any
Collateral  unless the fair market value of such asset is less that $250,000 and
the aggregate value of assets sold, leased or transferred in any 12-month period
is less than  $1,000,000.  For purposes of this Section 7.06,  Borrower may sell
those  investments  which are permitted in Section 7.05 above without  obtaining
the prior written approval of Lender.  Furthermore,  Borrower may sell, lease or
transfer  inventory,  customer  premise  equipment  and PABX  equipment  without
obtaining the prior written approval of Lender. The proceeds of such sale, lease
or  transfer  (other  than  the  sale of  handsets  and  accessories  to  retail
customers),  less  ordinary  and  reasonable  expenses  incident  to  such  sale
transaction,  must be (a)  immediately  applied as  prepayment  (subject  to any
applicable  prepayment  fees)  pro-ratably of the Note or any other notes by and
between  Borrower and Lender (when permitted under the respective  terms of each
loan  agreement  by  and  between  Borrower  and  Lender);  or (b)  used  to buy
replacement  property  as may be  designated  by  Lender at the time of any such
prepayment;  or (c)  set  aside  as a  deposit  in an  account  selected  by the
Borrower.  Notwithstanding  anything to the  contrary  herein,  Borrower may not
sell,  lease,  partition or disaggregate any of its right,  title or interest in
the PCS licenses, spectrum or service areas identified in the Recitals on page 1
hereto, without obtaining the prior written consent of Lender.

     7.07 SPECIAL  NEGATIVE  COVENANTS.  During the term hereof,  Lender and its
counsel  shall be  fully  satisfied  that the  Borrower  has  complied  and will
continue to comply with any special negative covenants  identified in Schedule 1
hereto.

     8. EVENTS OF DEFAULT

     The occurrence of any one or more of the following  events shall constitute
an "Event of Default":

     (a)  REPRESENTATION  AND WARRANTIES.  Any  representation  or warranty made
herein, in any of the Other Agreements or in any statement, report, certificate,
opinion,  financial  statement  or other  document  furnished to be furnished in
connection  with  this  Agreement  or the  Other  Agreements  shall  be false or
misleading in any material respect.
<PAGE>

     (b)  PAYMENT.  Failure of Borrower to make any of the payment  Obligations,
including,  without  limitation,  any sum due the Lender under this Agreement or
any of the Other  Agreements,  when and as the same shall become due, whether at
the due date thereof, by demand, by acceleration or otherwise.

     (c) OTHER  COVENANTS.  Failure  of  Borrower  to  observe  or  perform  any
warranty,  covenant or condition  to be observed or performed by Borrower  under
this Agreement or any of the Other Agreements.

     (d) LEGAL EXISTENCE. The Borrower shall forfeit or otherwise be deprived of
its  company  charter,  franchises,  permits,  easements,  consents  or licenses
required to carry on any material portion of its business.

     (e) OTHER  OBLIGATIONS.  Default by the Borrower in the payment when due of
any  money  owed  by the  Borrower,  whether  principal,  interest,  premium  or
otherwise,  under any other agreement for borrowing money in an amount in excess
of ten percent (10%) of  Borrower's  consolidated  total assets,  whether or not
such borrowing is secured.

     (f)  BANKRUPTCY.  A court  shall  enter a decree or order for  relief  with
respect to the Borrower or any Subsidiary or Vendor  Guarantor in an involuntary
case under any  applicable  bankruptcy,  insolvency  or other similar law now or
hereafter in effect, or appointing a receiver, liquidator,  assignee, custodian,
trustee,  sequestrator  or  similar  official,  or  ordering  the  winding up or
liquidation of its affairs,  and such decree or order shall remain  unstayed and
in effect for a period of sixty (60)  consecutive  days or the  Borrower  or any
Subsidiary  or Vendor  Guarantor  shall  commence  a  voluntary  case  under any
applicable  bankruptcy,  insolvency  or other  similar law now or  hereafter  in
effect,  or under any such  law,  or  consent  to the  appointment  or taking of
possession  by a receiver,  liquidator,  assignee,  custodian  or trustee,  of a
substantial part of its property, or make any general assignment for the benefit
of creditors.

     (g)  DISSOLUTION OR  LIQUIDATION.  Other than as provided in subsection (f)
above,  the  dissolution  or  liquidation  of the Borrower or any  Subsidiary or
Vendor  Guarantor,  or  failure  by the  Borrower  or any  Subsidiary  or Vendor
Guarantor  promptly  to  forestall  or  remove  any  execution,  garnishment  or
attachment of such consequence as will materially impair its ability to continue
its  business or fulfill its  obligations  and such  execution,  garnishment  or
attachment shall not be vacated within sixty (60) days.

     (h) FINAL JUDGMENT. A final  non-appealable  judgment in excess of $100,000
shall be entered against the Borrower and shall remain  unsatisfied or without a
stay for a period of sixty (60) days.

     (i)  VENDOR  GUARANTOR  DEFAULT.  Default by the  Vendor  Guarantor  in the
payment when due of any money owed to Lender under any guaranty  between  Lender
and Vendor Guarantor related to this Loan.

                                       16
<PAGE>

     9. RIGHTS AND REMEDIES

     9.01 RIGHTS AND REMEDIES OF THE LENDER.  Upon the occurrence of an Event of
Default, the Lender may, subject to:

     (i)  thirty (30) days prior written notice during which time Borrower shall
          have the opportunity to cure said Event of Default except with respect
          to  Obligations  pursuant to Section 8(b) for which  Borrower shall be
          provided  five (5) days prior  written  notice,  and Sections 8(f) and
          8(g) above which  shall  require no notice or demand and shall have no
          period to cure; and

     (ii) compliance, if required, with the rules and regulations of the FCC and
          any state public service or utilities commission having jurisdiction;

exercise  in any  jurisdiction  in  which  enforcement  hereof  is  sought,  the
following rights and remedies,  in addition to all rights and remedies available
to the  Lender  under  applicable  law,  all  such  rights  and  remedies  being
cumulative and enforceable alternatively, successively or concurrently:

     (a) Declare all unpaid  principal  outstanding on the Note, all accrued and
unpaid  interest  thereon,  and all other  Obligations to be immediately due and
payable and the same shall thereupon become  immediately due and payable without
presentment,  demand,  protest  or notice of any kind,  all of which are  hereby
expressly waived.

     (b) Institute any proceeding or proceedings to enforce the Obligations owed
to, or any Liens in favor of the Lender.

     (c)  Pursue  all  rights and  remedies  available  to the  Lender  that are
contemplated by the Mortgage or the Pledges in the manner,  upon the conditions,
and with the effect  provided in the Mortgage or the Pledges,  including but not
limited to a suit for specific performance, injunctive relief or damages.

     9.02 CUMULATIVE NATURE OF REMEDIES. Nothing herein shall limit the right of
the Lender,  subject to notice and right to cure provisions contained herein, to
pursue all rights and remedies  available to a creditor following the occurrence
of an Event of Default  subject to compliance,  if required,  with the rules and
regulations  of the FCC and any state  public  service or  utilities  commission
having  jurisdiction.  Each  right,  power  and  remedy  of the  Lender  in this
Agreement and/or the Other  Agreements  shall be cumulative and concurrent,  and
recourse to one or more rights or remedies  shall not constitute a waiver or any
other right, power or remedy.

     9.03 COSTS AND  EXPENSES.  Borrower  agrees to pay and to be liable for any
and all expenses,  including actual attorney's fees and court costs,  reasonably
incurred by the Lender in exercising or enforcing any of its rights hereunder or
under the Other  Agreements,  together  with  interest  thereon  at the rate and
determined in the manner  provided in the Mortgage.  Subject to the Mortgage and
applicable  law,  the  Lender  may  apply all  Collateral  and  proceeds  of all
Collateral  to the  Obligations  in any  manner  which the  Lender,  in its sole
discretion,  deems appropriate,  and Borrower will continue to be liable for any
deficiency.

     9.04 LATE PAYMENT CHARGES.  If payment of any principal and/or interest due
under  the terms of the Note is not  received  at the  office  of the  Lender in
Herndon,  Virginia,  or as the Lender may  otherwise  designate to the Borrower,

                                       17
<PAGE>

within  such time  period as the Lender may  prescribe  from time to time in its
policies in connection with any late payment charges,  which in no event will be
less than five (5) days (such unpaid amount of principal  and/or  interest being
herein called the  "delinquent  amount" and the period  beginning after such due
date  until   payment  of  the   delinquent   amount  being  herein  called  the
"late-payment  period"), the Borrower will pay to the Lender, in addition to all
other amounts due under the terms of the Note, the Mortgage, and this Agreement,
any late-payment  charge as may be fixed by the Lender from time to time, on the
delinquent  amount  for the  late-payment  period;  provided,  however,  no late
payment  charge shall exceed an amount equal to the then  prevailing  bank prime
rate  published in the "Money Rates"  column of the Eastern  edition of the Wall
Street  Journal  plus  three  percent  (3%) per annum on the  delinquent  amount
computed over the late-payment period on the basis of a 365-day year.

     9.05 LENDER'S  SETOFF.  The Lender shall have the right, in addition to all
other rights and remedies  available to it, to setoff and to recover against any
or all of the Obligations  due to Lender,  any monies now and hereafter owing to
Borrower by the Lender,  including  but not limited to any monies owed by Lender
to Borrower  as a result of  Borrower's  SCC  investments.  Borrower  waives all
rights of setoff, deduction, recoupment or counterclaim.

     10. MISCELLANEOUS

     10.01 PERFORMANCE FOR BORROWER.  Borrower agrees and hereby authorizes that
the Lender  may,  in its  reasonable  discretion,  but the  Lender  shall not be
obligated  to,  advance  funds on behalf of  Borrower  without  prior  notice to
Borrower,  in order to insure Borrower's  compliance with any material covenant,
warranty,  representation  or agreement of Borrower  made in or pursuant to this
Agreement  or any of the Other  Agreements,  to preserve or protect any right or
interest of the Lender in the  Collateral or under or pursuant to this Agreement
or any of the Other Agreements, including without limitation, the payment of any
insurance premiums or taxes and the satisfaction or discharge of any judgment or
any Lien upon the Collateral or other property or assets of Borrower;  provided,
however,  that the making of any such advance by the Lender shall not constitute
a waiver by the  Lender of any  Event of  Default  with  respect  to which  such
advance is made nor  relieve  Borrower  of any such Event or  Default.  Borrower
shall pay to the Lender  upon demand all such  advances  made by the Lender with
interest  thereon at the rate and determined in the manner provided in the Note.
All such advances shall be deemed to be included in the  Obligations and secured
by the security interest granted the Lender hereunder to the extent permitted by
law.

     10.02  EXPENSES  AND FILING  FEES.  Whether or not any of the  transactions
contemplated  hereby shall be consummated,  Borrower agrees to pay to the Lender
at  Closing  or  thirty  (30) days  after the  execution  and  delivery  hereof,
whichever is earlier,  all expenses of the Lender in connection  with the filing
or recordation of all financing statements and instruments as may be required by
the Lender at the time of, or subsequent  to, the  execution of this  Agreement,
including,  without limitation, all documentary stamps, recordation and transfer
taxes and other  costs and taxes  incident  to  recordation  of any  document or
instrument  in  connection  herewith.  Borrower  agrees  to  save  harmless  and
indemnify the Lender from and against any liability  resulting  from the failure
to  pay  any  required  documentary  stamps,  recordation  and  transfer  taxes,
recording costs, or any other expenses incurred by the Lender in connection with
this Agreement. The provisions of this Section 10.02 shall survive the execution
and delivery of this Agreement and the payment of all other Obligations.

     10.03 WAIVERS BY BORROWER.  Borrower hereby waives,  to the extent the same
may be  waived  under  applicable  law:  (a) in the event  the  Lender  seeks to
repossess any or all of the Collateral by judicial  proceedings,  any bond(s) or

                                       18
<PAGE>

demand(s)  for  possession  which  otherwise  may be necessary or required;  (b)
presentment,  demand for  payment,  protest  and notice of  non-payment  and all
exemptions;  and  (c)  substitution,  impairment,  exchange  or  release  of any
collateral security for any of the Obligations.  Borrower agrees that the Lender
may exercise any or all of its rights  and/or  remedies  hereunder and under the
Other Agreements  without resorting to and without regard to security or sources
of liability with respect to any of the Obligations.

     10.04 WAIVERS BY THE LENDER.  Neither any failure nor any delay on the part
of the Lender in exercising any right, power or remedy hereunder or under any of
the Other  Agreements  shall operate as a waiver thereof,  nor shall a single or
partial  exercise  thereof preclude any other or further exercise thereof or the
exercise of any other right, power or remedy.

     10.05 LENDER'S RECORDS. Absent bad faith or manifest error, every statement
of account or reconciliation  rendered by the Lender to Borrower with respect to
any of the  Obligations  shall be presumed  conclusively to be correct and shall
constitute  an account  stated  between the Lender and Borrower  unless,  within
forty five (45) Business Days after such statement or reconciliation  shall have
been mailed,  postage  prepaid,  to Borrower,  the Lender shall receive  written
notice of specific objection thereto.

     10.06  MODIFICATIONS.  No  modification  or waiver of any provision of this
Agreement,  the Note, the Mortgage,  the Pledges or any of the Other Agreements,
and no consent to any  departure  by  Borrower  therefrom  shall in any event be
effective  unless the same shall be in writing,  and then such waiver or consent
shall be effective  only in the specific  instance and for the purpose for which
given.  No notice to or demand upon Borrower in any case shall entitle  Borrower
to any  other  or  further  notice  or  demand  in the  same,  similar  or other
circumstances.

     10.07 NOTICES. All notices,  requests and other communications provided for
herein including, without limitation, any modifications of, or waivers, requests
or consents under, this Agreement shall be given or made in writing  (including,
without limitation,  by telecopy) and delivered to the intended recipient at the
"Address  for  Notices"  specified  below;  or, as to any  party,  at such other
address as shall be  designated  by such party in a notice to each other  party.
Except as otherwise provided in this Agreement, all such communications shall be
deemed to have been duly given when  personally  delivered  or, in the case of a
mailed or telecopied  notice,  upon receipt,  in each case given or addressed as
provided for herein.  The Address for Notices of the  respective  parties are as
follows:

                        Rural Telephone Finance Cooperative
                          Woodland Park
                        2201 Cooperative Way
                        Herndon, Virginia  20171-3025
                        Attention:  Loan Officer
                        Fax: 703-709-6780

                        The Borrower:

                        The address set forth in
                        Schedule 1 hereto

                                       19
<PAGE>

     10.08 GOVERNING LAW; SUBMISSION TO JURISDICTION; WAIVER OF JURY TRIAL.

     (a) THE PERFORMANCE AND  CONSTRUCTION OF THIS AGREEMENT AND THE NOTE, SHALL
BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE  WITH, THE LAWS OF THE  COMMONWEALTH
OF VIRGINIA.

     (b) BORROWER HEREBY SUBMITS TO THE NONEXCLUSIVE  JURISDICTION OF THE UNITED
STATES COURTS LOCATED IN VIRGINIA AND OF ANY STATE COURT SO LOCATED FOR PURPOSES
OF ALL LEGAL  PROCEEDINGS  ARISING OUT OF OR RELATING TO THIS  AGREEMENT  OR THE
TRANSACTIONS  CONTEMPLATED  HEREBY.  BORROWER IRREVOCABLY WAIVES, TO THE FULLEST
EXTENT  PERMITTED BY APPLICABLE  LAW, ANY OBJECTION THAT IT MAY NOW OR HEREAFTER
HAVE TO THE LAYING OF THE VENUE OF ANY SUCH  PROCEEDING  BROUGHT IN SUCH A COURT
AND ANY CLAIM  THAT ANY SUCH  PROCEEDING  HAS BEEN  BROUGHT  IN AN  INCONVENIENT
FORUM.

     (c) EACH OF THE BORROWER AND THE LENDER HEREBY  IRREVOCABLY  WAIVES, TO THE
FULLEST EXTENT  PERMITTED BY APPLICABLE  LAW, ANY AND ALL RIGHT TO TRIAL BY JURY
IN ANY LEGAL  PROCEEDING  ARISING OUT OF OR RELATING  TO THIS  AGREEMENT  OR THE
TRANSACTIONS CONTEMPLATED HEREBY.

     10.09 HOLIDAY PAYMENTS. If any payment to be made by the Borrower hereunder
shall become due on a day which is not a Business  Day,  such  payment  shall be
made on the next  succeeding  Business  Day and such  extension of time shall be
included in computing any interest in respect of such payment.

     10.10  SURVIVAL;   SUCCESSORS  AND  ASSIGNS.  All  covenants,   agreements,
representations  and warranties  made herein and in the Other  Agreements  shall
survive  Closing and the execution  and delivery to the Lender of the Note,  and
shall continue in full force and effect until all of the  Obligations  have been
paid in full.  Whenever in this  Agreement any of the parties hereto is referred
to, such reference shall be deemed to include the successors and assigns of such
party. All covenants, agreements, representations and warranties by or on behalf
of Borrower which are contained in this Agreement and the Other Agreements shall
inure to the benefit of the successors and assigns of the Lender.

     10.11 USE OF TERMS.  The use of any gender or the neuter  herein shall also
refer to the other  gender or the neuter  and the use of the  plural  shall also
refer to the singular, and vice versa.

     10.12  SEVERABILITY.  If any  term,  provision  or  condition,  or any part
thereof,  of this Agreement or any of the Other  Agreements shall for any reason
be found or held invalid or unenforceable by any court or governmental agency of
competent jurisdiction, such invalidity or unenforceability shall not affect the
remainder of such term,  provision or condition nor any other term, provision or
condition,  and this Agreement, the Note, and the Other Agreements shall survive
and be  construed  as if  such  invalid  or  unenforceable  term,  provision  or
condition had not been contained therein.

     10.13 MERGER AND INTEGRATION.  This Agreement and the attached exhibits and
matters  incorporated by reference  contain the entire  agreement of the parties
hereto with  respect to the matters  covered and the  transactions  contemplated
hereby,  and no other agreement,  statement or promise made by any party hereto,
or by any employee, officer, agent or attorney of any party hereto, which is not
contained herein, shall be valid or binding.

                                       20
<PAGE>

     10.14  COUNTERPARTS.  This  Agreement  may be  executed  in any  number  of
counterparts and by different parties hereto on separate  counterparts,  each of
which,  when so  executed  and  delivered,  shall be an  original,  but all such
counterparts shall together constitute one and the same instrument.

     10.15 HEADINGS.  The headings and sub-headings  contained in this Agreement
are intended to be used for convenience  only and do not constitute part of this
Agreement.

     10.16  ASSIGNMENT.  The Lender may assign its rights and obligations  under
this  Agreement  and the Other  Agreements  without the consent of the Borrower;
provided,  however,  that no such assignment shall result in terms or conditions
less  favorable  to  Borrower.  The Borrower may not assign any of its rights or
obligations  under this  Agreement  or the Other  Agreements  without  the prior
written consent of the Lender.

     10.17 RIGHT TO INSPECT.  The Borrower shall permit  representatives  of the
Lender at any time during normal  business  hours to inspect and make  abstracts
from  the  books  and  records   pertaining  to  the   Collateral,   and  permit
representatives  of the Lender to be present at Borrower's  place of business to
receive copies of all communications and remittances relating to the Collateral,
all in such manner as the Lender may reasonably require.

     10.18 CONSENT TO PATRONAGE CAPITAL DISTRIBUTIONS.  Borrower hereby consents
that the amount of any distributions with respect to Borrower's  patronage which
are made in written  notices of  allocation  (as defined in Section  1388 of the
Internal  Revenue  Code  of  1986,  as  amended  ("Code")  including  any  other
comparable successor provision) and which are received from Lender will be taken
into account by Borrower at their stated dollar  amounts in the manner  provided
in Section 1385(a) of the Code in the taxable year in which such written notices
of allocation are received. Although Lender makes no representations, warranties
or assurances of future  actions  hereby,  Lender  currently  retires  patronage
capital  in two  different  classes  as  follows:  (a)  Class  One -- 70% of the
patronage  capital is retired in cash shortly after the end of the year in which
it was allocated and (b) Class Two -- 30% of the patronage capital allocation is
retired on Lender's Board approved rotation cycle, which is currently 15 years.

     10.19 FURTHER  ASSURANCES.  The Borrower  will,  upon demand of the Lender,
make,  execute,  acknowledge  and  deliver  all such  further  and  supplemental
indentures  of  mortgage,  deeds  of  trust,  mortgages,  financing  statements,
continuation  statements,  security  agreements and/or any other instruments and
conveyances  as may be  reasonably  requested  by the Lender to  effectuate  the
intention of this  Agreement  and to provide for the securing and payment of the
principal of and interest on the Note according to the terms thereof.

     10.20  LENDER'S  APPROVAL.  Wherever  prior written  approval or consent of
Lender is required  under the terms and  conditions  of this  Agreement,  Lender
hereby agrees to not unreasonably withhold or delay said approval.

     10.21  SCHEDULE 1.  Schedule 1 attached  hereto is an integral part of this
Agreement.

                                       21
<PAGE>

     IN WITNESS  WHEREOF,  the  parties  hereto  have  executed  or caused to be
executed this Agreement under seal as of the date first above written.

                                        BRIGHT PERSONAL COMMUNICATIONS
                                        SERVICES, LLC

                                        By:     /s/ William A. McKell
                                            -------------------------------

                                        Title: President
(SEAL)

Attest: /s/ Steven P. Burkhardt
       -------------------------
Title:  Assistant Secretary

                                        RURAL TELEPHONE FINANCE COOPERATIVE

                                        By:     /s/ Robin C. Reed
                                            -------------------------------

                                        Title: Assistant Secretary-Treasurer
(SEAL)

Attest: /s/ Ken Fried
       -------------------------
Title:  Assistant Secretary-Treasurer

                                       22
<PAGE>

                                   SCHEDULE 1

1.   The "Commitment" shall mean $35,400,000.

2.   The "Mortgage"  defined in Section 1 is the Mortgage and Security Agreement
     by and between Borrower and Lender dated as of even date herewith.

3.   The months  relating to the Payment  Date are March,  June,  September  and
     December.

4.   In  accordance  with Section  2.03,  the Loan shall  amortize  quarterly as
     follows:  (a) interest  only for four (4) years,  followed by (b) principal
     payments due in equal quarterly installments,  plus accrued interest, based
     on the following schedule:

                                         Percent [%] of Principal
       Quarter             Year           Paid per Quarter/Year
       -------             ----           ---------------------
        17-20                5                 2.50%/10.0%
        21-24                6                 3.75%/15.0%
        25-28                7                 3.75%/15.0%
        29-32                8                 5.00%/20.0%
        33-36                9                 5.00%/20.0%
        37-40               10                 5.00%/20.0%

5.   The amount referred to in Section 2.05 is $1,770,000.

6.   The chief executive  office of the Borrower  referred to in Section 4.12 is
     68 East Main Street, Chillicothe, OH 45601.

7.   The government authorities referred to in Section 4.13 are the FCC.

8.   The special conditions referred to in Section 5.06 are as follows:

     A.   Prior to the  initial  Advance of any funds  hereunder,  Lender  shall
          receive  in form and  substance  reasonably  satisfactory  to  Lender,
          copies of the following:

          (i)  All   management,   maintenance,   service  and  other   material
               agreements executed by Borrower, including but not limited to (a)
               the  Purchase  Agreement,  (b)  the  Tower  Agreements,  (c)  the
               Services  Agreement,   (d)  the  Management  Agreement,  (e)  the
               Reimbursement and Security  Agreement by and between Borrower and
               Vendor  executed and delivered in  connection  with this Loan and
               (f)  the  Subordination  Agreements  by and  between  each of the
               member-owners  of Borrower and Vendor  executed and  delivered in
               connection with this Loan.

          (ii) Borrower's filed Articles of Organization and executed  Operating
               Agreement.

          (iii)Borrower's  executed  Amendment No. 2 to Operating  Agreement (a)
               permitting the pledge and security interest to be granted by each
               of the Pledgors to Lender in each  Pledgor's  economic and equity
               interest in  Borrower,  (b) waiving the right of first offer held
               by each of the members of the Borrower  with respect to transfers
               by Lender in the event of  default  by the  Borrower  under  this
               Agreement,  and  (c)  permitting  Lender  to  be  a  third  party
               beneficiary  with  regard to  enforcing  the  obligations  of the
               Taxable  Members (as  defined in the  Operating  Agreement)  with
               respect to the tax sharing  arrangement by and among the Borrower
               and its  members  as set forth in  Section  7.2 of the  Operating
               Agreement.

          (iv) Evidence that each Pledgor has received all necessary regulatory,
               creditor and third party  approvals  and consents to pledge their
               ownership   interests   in   Borrower   pursuant  to  the  Pledge
               Agreements.

     B.   On or  prior  to the  date of the  initial  Advance  under  the  Loan,
          Borrower shall provide Lender with evidence reasonably satisfactory to
          Lender that its capitalization consists of a minimum of $12,130,000 of
          common equity capital.

9.   A.   The  purposes  referred  to in  Section  6.06 are as  follows:  (a) to
          finance  up to  $23,900,000  of  Vendor  supplied  PCS  equipment  and
          engineering  services,   (b)  to  finance  up  to  $9,730,000  of  its
          non-Vendor  related  capital  expenditures  and  Borrower's  share  of
          spectrum  clearing  expenses in the BTAs identified in the Recitals on
          page 1 hereto;  (c) for  working  capital  up to  $12,000,  and (d) to
          purchase up to  $1,770,000  of SCCs.  Notwithstanding  anything to the
          contrary herein, Borrower agrees and covenants that: (i) loan proceeds
          shall not be used to reimburse  Borrower's  operating losses; and (ii)
          the total principal  amount  outstanding  shall not exceed 150% of the
          cost of Vendor supplied equipment materials and services. All Advances
          under  clause  (a) of this  paragraph  shall be paid  directly  to the
          Vendor in accordance with written instructions  provided by the Vendor
          to the Lender, unless the Vendor agrees in writing otherwise.

     B.   Borrower  represents to Lender that on February 28, 2000 and March 10,
          2000 it had  payments in the amount of  $527,820.35  and  $595,714.90,
          respectively,  due to Vendor for Vendor  supplied  PCS  equipment  and
          engineering services, which a portion of the loan proceeds is to fund.
          In the event that Borrower  makes such payments to Vendor with its own
          funds, Lender agrees that it will permit the Borrower to be reimbursed
          from the loan proceeds in an amount equal to the aforesaid payments to
          Motorola, subject to the other terms and conditions of this Agreement.

10.  The special affirmative covenants referred to in Section 6.07 are:

     A.   Borrower  shall submit to Lender  copies of the Master Site  Agreement
          and each SLA  executed  and  delivered in  connection  therewith.  The
          Master  Site  Agreement  shall  be  in  form  and  content  reasonably
          satisfactory to Lender,  shall cover a term of at least ten (10) years
          (with extension  options) and have assignability and equipment removal
          provisions for the benefit of Lender and its  assignees,  or otherwise
          be pre-approved by Lender.

     B.   Borrower  shall submit to Lender  copies of its Cell Site  Agreements.
          Such  Cell Site  Agreements  shall be in form and  content  reasonably
          satisfactory  to  Lender,  and at all  times  90% of  said  Cell  Site

<PAGE>

          Agreements,  when taken together with the SLAs,  shall cover a term of
          at  least  10  years  and have  assignability  and  equipment  removal
          provisions for the benefit of Lender and its  assignees,  or otherwise
          be pre-approved by Lender.

     C.   Borrower  shall adopt and  maintain  the  calendar  year as its fiscal
          year.

     D.   Pursuant to the Services  Agreement,  Horizon  shall  provide  certain
          services  to Borrower in return for  additional  common  equity in the
          Borrower,  which additional common equity shall in the aggregate total
          $2,700,000  according to the following schedule:  $375,000 by December
          31, 2000;  $1,669,000  by December 31, 2001;  and $656,000 by December
          31,  2002.  In the event the equity for services  arrangement  between
          Borrower  and Horizon  does not amount to  $2,700,000  by December 31,
          2002, then the Borrower's cumulative contributed common equity capital
          as a percentage of the sum of (i) cumulative contributed common equity
          capital,  and (ii)  cumulative  advances  under  this Loan net of SCCs
          shall equal 40% or greater by December 31, 2002.

     E.   Pursuant  to the  Operating  Agreement  of the  Borrower,  the Taxable
          Members shall make capital  contributions in the form of cash payments
          to  Borrower  on  the  following  dates  equal  to the  lesser  of (i)
          $2,599,000  by December 31, 2000;  $4,104,000 by December 31, 2001 and
          $1,777,000  by December 31,  2002;  or (ii) a positive  dollar  amount
          equivalent to 30% of Borrower's book net loss for such year (if any).

          To the extent that  Borrower  and/or the  Taxable  Members do not have
          final net income calculations by December 31st of any given year, such
          parties  shall use their best  efforts to  provide an  estimated  cash
          payment in accordance with the above schedule by December 31st of said
          year; thereafter, based on the latest available tax information but in
          no event  later than April 30th of the  following  year,  a  "true-up"
          calculation  shall be made whereby the Taxable  Members  shall provide
          Borrower  an  additional  cash  payment in  accordance  with the above
          schedule (if the December 31st  contribution  was  underestimated)  or
          Borrower  at the Taxable  Member's  option  shall  provide the Taxable
          Members  a refund  payment  (if the  December  31st  contribution  was
          overestimated).   Notwithstanding  the  timing  of  any  true-ups  and
          whenever  the year's  final tax return is filed,  the Taxable  Members
          shall  continue to be liable for any necessary  payments in accordance
          with the above schedule.

11.  The special negative covenants referred to in Section 7.07 are:

     A.   Borrower  will not enter into any master  sale-leaseback  contract  or
          other contract for the sale, management, or operation of its cell site
          towers without  obtaining the prior written  consent of Lender,  other
          than  the  transaction  contemplated  by  the  Tower  Agreements,  the
          Services Agreement and the Management Agreement.

     B.   Borrower  will  not  build-out,  commence  construction  of,  lease or
          operate PCS network  facilities in the Battle Creek,  Benton Harbor or
          Kalamazoo, Michigan partial BTAs until there shall have been delivered
          to the Lender, fully completed and duly executed (when applicable) the
          following, reasonably satisfactory to the Lender and its counsel:

<PAGE>

          (i)  All necessary regulatory approvals from regulatory authorities in
               connection with the build-out,  construction,  lease or operation
               of such facilities;

          (ii) Evidence  that it has filed  UCC-1  financing  statements  in all
               jurisdictions  in Michigan  necessary  to provide  Lender a first
               priority, perfected security interest in all Collateral which may
               be perfected by the filing of a financing statement; and

          (iii)A legal  opinion of  Michigan  counsel  for the  Borrower  to the
               effect that the matters set forth in paragraph  11.B (i) and (ii)
               have been satisfied.

     C.   Borrower shall not modify,  amend or terminate the Operating Agreement
          without Lender's prior written consent.

12.  The address of Borrower  referred  to in Section  10.07 is PO Box 5050,  68
     East Main Street, Chillicothe, OH 45601.

<PAGE>

                                    EXHIBIT A

                               FORM OF REQUISITION

                            RTFC LOAN NO. OH 804-9001

Date

Rural Telephone Finance Cooperative
Woodland Park
2201 Cooperative Way
Herndon, VA  22071-3025
Attention:  Telco Team

RE:      Request for Loan Funds; RTFC Loan No. OH 804-9001, Request #____

Gentlemen:

Reference is made to that certain Loan Agreement designated OH 804-9001 dated as
of  ______________,  2000 (the "Loan  Agreement") by and between Bright Personal
Communications  Services,  LLC ("Bright PCS" or "Borrower")  and Rural Telephone
Finance Cooperative ("RTFC" or "Lender"). Capitalized terms used but not defined
herein are defined in the Loan Agreement.

Pursuant to the Loan Agreement,  the  undersigned  hereby requests an Advance in
the amount of $____________  under the Loan, of which 5% (rounded to the nearest
dollar) or  $_________  is to be used for payment of RTFC  Subordinated  Capital
Certificates.

* For funds transfer to Motorola,  Inc.  ("Motorola"):  [The cash portion of the
Advance is to be used for payment of outstanding  invoices from Motorola,  which
are  summarized  in the  attached  supporting  documents.  These funds should be
remitted  to  Motorola  by bank  wire  transfer  based on the  following  wiring
instructions:

      Bank:               First Chicago NBD Bank, Chicago, IL
      Bank ABA No.:       071000013
      Credit:             Motorola, Inc.
      Account No.:        5265657

Bank wire  transfer  confirmation  and account  verification  may be obtained by
contacting ___________ at (800) 550-3313.]

* For funds  transfer to Bright PCS:  [The cash  portion of the Advance is to be
used for payment of  non-Motorola  related  expenditures  as  summarized  in the
attached supporting  documents.  These funds should be remitted to Bright PCS by
bank wire transfer based on the following wiring instructions:

* Select appropriate paragraph

<PAGE>

                           Bank: ______________________________________
                           Bank ABA No.: ______________________________
                           Credit:       Bright Personal Communications
                                          Services, LLC
                           Account No.: _______________________________

Bank wire  transfer  confirmation  and account  verification  may be obtained by
contacting ___________ at (_____) ______________]

In connection with the proposed  Advance  hereunder and pursuant to the terms of
the Loan Agreement, the Borrower hereby certifies that as of the date hereof:

     (a)  Proceeds of the Advance  are to be used  solely for the  purposes  set
          forth in the Loan Agreement;

     (b)  Including this Advance,  the total principal amount  outstanding under
          the Loan does not exceed 150% of the price of the total  products  and
          services  supplied  by  Motorola  to Bright  PCS  pursuant  to the PCS
          Infrastructure Sale and Purchase Agreement by and between Motorola and
          Borrower (SHOW COMPLIANCE BY ATTACHING CONFIRMING SCHEDULE);

     (c)  No Event of  Default  and no event  which,  with the  lapse of time or
          notice and the lapse of time would  become  such an Event of  Default,
          has occurred;

     (d)  Borrower is in compliance  with all terms of the Loan  Agreement,  the
          Mortgage and all other agreements executed with RTFC;

     (e)  Borrower  is in  compliance  with all terms of the  Reimbursement  and
          Security Agreement executed with Motorola; and

     (f)  90% of all Cell Site  Agreements,  when taken  together with the SLAs,
          conform  to the  minimum  provisions  of the  Loan  Agreement  or have
          otherwise been pre-approved by RTFC and Motorola.

Certified this __ day of ___________, 200__.

BRIGHT PERSONAL COMMUNICATIONS SERVICES, LLC

By: _________________________________

Its:_________________________________

                    [Signatures continued on following page]

<PAGE>

Acknowledged by Motorola this _____ day of ______________, 200__, solely for the
purpose of verifying that the total principal amount  outstanding under the Loan
does not exceed 150% of the price of the total products and services supplied by
Motorola  to  Borrower  pursuant  to the PCS  Infrastructure  Sale and  Purchase
Agreement by and between Borrower and Motorola. This acknowledgment is in no way
intended to expand  Motorola's  obligations under that certain Guaranty dated as
of ___________,  2000 executed by Motorola in favor of RTFC, or to attest to the
accuracy of Borrower's certifications set forth herein.

MOTOROLA, INC.

By: _________________________________

Its: ________________________________July 7, 2000

Mr. William A. McKell
President and Chief Executive Officer
Horizon Personal Communications, Inc.
68 East Main Street
Chillicothe, Ohio  45601-0480

Mr. Peter M. Holland
Director and Chief Financial Officer
Horizon Personal Communications, Inc.
68 East Main Street
Chillicothe, Ohio  45601-0480

     RE:  $225 MILLION  SENIOR  SECURED  CREDIT  FACILITY  FOR HORIZON  PERSONAL
          COMMUNICATIONS, INC.

Gentlemen:

         We  understand  that  Horizon   Personal   Communications,   Inc.  (the
"Borrower")  intends  to  finance  the  direct  costs  of the  construction  and
operation  of a  regional  digital  wireless  telecommunications  network on the
Sprint PCS system (collectively,  the "Build-out").  We also understand that the
Borrower will enter into a Credit Agreement (the "Bank Credit Facility") for the
purposes of financing the Build-out having  substantially the terms set forth on
the summary of terms and  conditions  attached  hereto (the "Term  Sheet")  with
certain financial  institutions (the "Lenders") for an aggregate amount of up to
$225  million  which shall be in the form of a term loan and a revolving  credit
facility.  The Build-out and the transaction described in the foregoing sentence
are hereinafter referred to collectively as the "Transactions."

         Based upon and subject to the foregoing and to the terms and conditions
set forth below and in the Term Sheet, First Union National Bank ("First Union")
is pleased to confirm  its  commitment  (the  "Commitment")  to provide the Bank
Credit  Facility to the Borrower.  First Union's  obligation to provide the Bank
Credit  Facility  pursuant to this  Commitment is subject to (i) the  Borrower's
written  acceptance  of a letter from First  Union to the  Borrower of even date
herewith  (the "Fee  Letter")  pursuant to which the  Borrower  agrees to pay to
First Union  certain fees in  connection  with the Bank Credit  Facility as more
particularly  set forth  therein,  (ii) the  completion  of a definitive  credit
agreement  and related  documentation  for the Bank Credit  Facility in form and
substance  satisfactory to First Union,  (iii)  completion of all  documentation
relating to the  Build-out  (including,  without  limitation,  all contracts and

                                       1
<PAGE>

other  documentation),  in form and substance  satisfactory to First Union, (iv)
compliance  with all applicable laws and  regulations  (including  compliance of
this  Commitment  and the  transactions  described  herein  with all  applicable
federal banking laws,  rules and  regulations),  (v) the  determination of First
Union  and  FUSI (as  defined  below)  that,  prior to and  during  the  primary
syndication  of the Bank Credit  Facility,  there  shall have been no  competing
issuance of debt  (excluding,  for purposes  hereof,  the issuance of high yield
indebtedness  in an aggregate  amount of up to  $125,000,000  in net  proceeds),
securities  (excluding,  for purposes hereof, the initial public offering of the
common  stock of  Horizon  PCS,  Inc.  in an  aggregate  amount of not less than
$100,000,000  in net  proceeds) or  commercial  bank  facilities of the Borrower
being offered,  placed or arranged,  without the prior written  consent of First
Union and FUSI (vi) the  completion  by First Union of its legal,  financial and
business due  diligence in form and  substance  satisfactory  to First Union and
(vii) the satisfaction of all other  conditions  described  herein,  in the Term
Sheet  and in such  definitive  credit  documentation.  Further,  First  Union's
Commitment  is  subject  to there  not  having  occurred  any  material  adverse
disruption or other change in the financial, banking or capital markets that has
had or could  have a  material  adverse  effect on the  syndication  of the Bank
Credit  Facility.  In addition,  whether before or after the closing of the Bank
Credit  Facility,  First Union shall be entitled,  after  consultation  with the
Borrower,  to change the pricing  (provided,  however that it is agreed that the
applicable  percentages  referred to in the Term Sheet will not be  increased by
more than 2.0% above the rate stated therein if First Union shall have reached a
hold  level of  $100,000,000  or less),  structure  or terms of the Bank  Credit
Facility  (including,   without  limitation,   the  individual  amounts  of  the
facilities  but not the aggregate  amount of the Bank Credit  Facility) if First
Union determines that such changes are advisable in order to ensure a successful
pre-closing or  post-closing  syndication or an optimal credit  structure of the
Bank  Credit  Facility,  such right to  continue  until the  completion  of such
syndication notwithstanding the termination of the Commitment.

         It is agreed that First Union will act as the sole administrative agent
(the  "Administrative  Agent")  for any  other  Lenders  under  the Bank  Credit
Facility.  First Union,  through its  affiliate,  First Union  Securities,  Inc.
("FUSI" or the  "Arranger"),  will also serve as sole manager of the syndication
effort. In connection with such syndication effort,  First Union will manage all
aspects of the syndication,  including without limitation making decisions as to
the  selection  and  number  of  institutions  to be  approached  and when  such
institutions  will be  approached,  when  commitments  will be  accepted,  which
institutions  will  participate,  the allocations of commitments among syndicate
Lenders and the amount and distribution of fees payable to syndicate Lenders. As
a part of this process, First Union will consult with the Borrower regarding the
selection and number of institutions to be approached.

         First Union  reserves  the right,  prior to or after the  execution  of
definitive  documentation with respect to the Bank Credit Facility,  and as part
of any  syndication  thereof or  otherwise,  to arrange for the  assignment of a
portion of this  Commitment,  in accordance  with the Term Sheet, to one or more

                                       2
<PAGE>

mutually acceptable financial institutions that will become Lenders and be party
to such  definitive  documentation.  In addition,  in  connection  with any such
syndication,  the Borrower  acknowledges that First Union may allocate a portion
of the fees payable  under the Fee Letter to such other  Lenders.  It is agreed,
however,  that no  Lender  will  receive  compensation  from or on behalf of the
Borrower  outside the terms  contained  herein and in the Fee Letter in order to
obtain its commitment to participate in the Bank Credit Facility.

         The  Borrower  understands  that First Union  intends to  commence  the
syndication  efforts  immediately and intends to complete such syndication prior
to closing. In connection  therewith,  the Borrower agrees to assist First Union
in promptly completing a mutually satisfactory syndication. The syndication will
be  accomplished  by a variety  of means  including  direct  contact  during the
syndication  between senior management of the Borrower and First Union and their
respective affiliates and advisors. First Union reserves the right to engage the
services of FUSI and other of its  affiliates in  furnishing  the services to be
performed by First Union as contemplated  herein and to allocate (in whole or in
part) to any such affiliates any fees payable to it in such manner as it and its
affiliates may agree in their sole  discretion.  The Borrower  agrees that First
Union may share with any of its affiliates and advisors any information  related
to the Transactions or any other matter  contemplated  hereby, on a confidential
basis.

         The  Borrower  agrees  to afford  First  Union  and its  affiliates  an
opportunity to offer proposals to provide, arrange, underwrite or administer (i)
any interest  rate caps,  currency  swaps or other  hedging  transactions  to be
entered into by the Borrower or any of its affiliates, (ii) any cash management,
funds transfer, trade, corporate trust and securities services to be obtained by
the  Borrower or any of its  affiliates  and (iii) any public or private debt or
equity  instruments  or  securities  to be issued by the  Borrower or any of its
affiliates.

         You hereby  represent,  warrant and covenant that (i) all  information,
other than the Projections  (as defined  below),  which has been or is hereafter
made   available  to  First  Union  or  the  Lenders  by  you  or  any  of  your
representatives  in  connection  with  the  transactions   contemplated   hereby
("Information") is and will be complete and correct in all material respects and
does not and will not contain any untrue statement of a material fact or omit to
state a material fact  necessary to make the  statements  contained  therein not
misleading  and (ii) all financial  projections  concerning the Borrower and its
subsidiaries  that have been or are hereafter  made  available to First Union or
the Lenders by you or any of your  representatives (the "Projections") have been
or will be prepared in good faith based upon reasonable  assumptions.  You agree
to furnish us with such Information and Projections as we may reasonably request
and to supplement the Information  and the  Projections  from time to time until
the closing  date for the Bank Credit  Facility so that the  representation  and
warranty in the  preceding  sentence is correct on such date.  In arranging  and
syndicating  the Bank Credit  Facility  First Union will be using and relying on
the Information and the Projections without independent verification thereof.

                                       3
<PAGE>

         The Borrower agrees to reimburse First Union, FUSI and their affiliates
for  all  of  their  reasonable  fees  and  out-of-pocket   expenses  (including
reasonable  attorneys'  fees  and  expenses)  incurred  in  connection  with the
transactions  described  herein.  The Borrower also agrees to indemnify and hold
harmless First Union, FUSI and their affiliates and their respective  directors,
officers,  employees and agents (collectively,  the "Indemnified  Parties") from
and against any and all actions,  suits, losses, claims and liabilities to third
parties  unaffiliated with the Indemnified Parties of any kind or nature,  joint
or several, to which such Indemnified Parties may become subject,  related to or
arising out of any of the transactions  contemplated  herein,  including without
limitation the execution of definitive credit documentation, the syndication and
closing of the Bank Credit  Facility and the closing of the other  Transactions,
and will  reimburse the  Indemnified  Parties for all  reasonable  out-of-pocket
expenses (including  reasonable  attorneys' fees and expenses) on demand as they
are  incurred in  connection  with the  investigation  of,  preparation  for, or
defense of any pending or threatened  claim or any action or proceeding  arising
therefrom;  provided,  that  no  Indemnified  Party  shall  have  any  right  to
indemnification  for any of the foregoing to the extent resulting primarily from
the gross negligence or willful  misconduct of any Indemnified Party or from any
material breach hereof. This Commitment is addressed solely to the Borrower, and
neither  First Union and FUSI, on the one hand,  nor the Borrower,  on the other
hand,  shall be liable to the other or any other  person  for any  consequential
damages  that  may be  alleged  as a  result  of this  Commitment  or any of the
transactions  referred  to  herein.  In the event  that the  closing of the Bank
Credit Facility fails to occur for any reason,  the provisions of this paragraph
shall survive any termination of this Commitment.

         Until such time as the Borrower has accepted this Commitment in writing
as provided  below,  the Borrower is not  authorized  to show or circulate  this
Commitment  or the Term Sheet,  or disclose the contents  thereof,  to any other
person or entity (other than to its directors,  officers and legal and financial
counsel;  provided  that (i) each of such persons shall agree to be bound by the
confidentiality  provisions hereof and (ii) the Borrower shall be liable for any
breach of such confidentiality  provisions by any such person), except as may be
required by law or applicable judicial process.

         This Commitment  shall  terminate at 5:00 p.m. on July 7, 2000,  unless
such  Commitment  is accepted by the Borrower in writing prior to such time and,
if accepted prior to such time, shall expire at the earlier of the occurrence of
any event that has, or could be expected to have, a material  adverse  effect on
the  business,  properties,  prospects,  operations  or condition  (financial or
otherwise)  of the  Borrower,  and (iv) 5:00 p.m.  on August  15,  2000,  if the
closing of the Bank Credit Facility shall not have occurred by such time.

         This  Commitment  and the Fee Letter shall be governed by and construed
in  accordance  with the  internal  laws of the  state of  North  Carolina,  and
together  constitute the entire  agreement  between the parties  relating to the
subject matter hereof and thereof and supersede any previous agreement,  written
or oral,  between the parties  with  respect to the  subject  matter  hereof and
thereof.  This Commitment  supersedes any prior or contemporaneous  agreement or

                                       4
<PAGE>

understanding  between any parties  hereto  with  respect to the subject  matter
hereof. This Commitment may not be assigned without the prior written consent of
First Union.

         If the Borrower is in  agreement  with the  foregoing,  please sign the
enclosed copy of this Commitment and return it to First Union and FUSI, together
with an executed  copy of the Fee Letter and payment of that  portion of the any
fee  referenced  in the Fee Letter  which is  payable  upon  acceptance  of this
Commitment, by no later than 5:00 p.m. on July 7, 2000.

                             Sincerely,

                             FIRST UNION NATIONAL BANK

                             By:    /s/ W.A. Luther
                                ------------------------------------------------
                             Name:  William A. Luther
                                  ----------------------------------------------
                             Title: SVP
                                   ---------------------------------------------

                             FIRST UNION SECURITIES, INC.

                             By:    /s/ Rob Johnson
                                ------------------------------------------------
                             Name:  Rob Johnson
                                  ----------------------------------------------
                             Title: MD
                                   ---------------------------------------------

Agreed to and accepted this day of ______________, 2000.

HORIZON PERSONAL COMMUNICATIONS, INC.

By:     /s/ Pete Holland
   --------------------------------------------------
Name:   Pete Holland
     ------------------------------------------------
Title:  Chief Financial Officer
      -----------------------------------------------

BRIGHT PCS, LLC

By:     /s/ Steven P. Burkhardt
   --------------------------------------------------
Name:   Steve Burkhardt
     ------------------------------------------------
Title:  Assistant Secretary
      -----------------------------------------------

<PAGE>

                      HORIZON PERSONAL COMMUNICATIONS, INC.
                    PROPOSED SUMMARY OF TERMS AND CONDITIONS
                                  JULY 7, 2000

BORROWERS:     Horizon Personal Communications, Inc. ("Horizon") and Bright PCS,
               LLC   ("Bright")   (each,   individually,    a   "Borrower"   and
               collectively, the "Borrowers").

GUARANTORS:    Horizon PCS,  Inc.  (the  "Parent")  and all material  direct and
               indirect subsidiaries of Horizon PCS, Inc.

ADMINISTRATIVE
AGENT:         First Union National Bank ("First  Union" or the  "Administrative
               Agent") or applicable affiliate designated thereby.

ARRANGER:      First Union Securities, Inc. (the "Arranger").

LENDERS:       First Union and a syndicate of lenders (the  "Lenders")  arranged
               by the Arranger and satisfactory to the Borrowers.

FACILITIES:    $75,000,000  Revolving Credit Facility (the "Revolver";  together
               with the Term Loan A and the Term Loan B, the "Facilities")  with
               a  $10,000,000  sublimit for the  issuance of standby  Letters of
               Credit  and a  $10,000,000  sublimit  for  Swingline  borrowings.
               Letters of Credit issued under the Revolver  shall have a term of
               no more than one year (not to extend  beyond the maturity date of
               the Revolver).

               $150,000,000  Term Loan (to be  comprised of a Term Loan A ("Term
               Loan A") and a Term  Loan B  ("Term  Loan  B") in  amounts  to be
               determined).  The Term Loan A and the Term Loan B,  together with
               the  Revolver,  shall  be  each  individually  referred  to  as a
               "Facility" and collectively, as the "Facilities". The Term Loan A
               shall  be  drawn  on a  delayed  basis  (not to  exceed  a period
               eighteen months after closing of the  Facilities)  according to a
               schedule to be determined.  Amounts  allocated to the Term Loan B
               may be subject to call protection of 102% and 101% in years 1 and
               2, respectively.

               Provided the  Facilities  referred to above are fully drawn,  the
               Borrower  may  borrow  up  to  an  additional   $50,000,000  (the
               "Additional  Facility")  upon Required Lender approval so long as
               (a) the  terms are no more  favorable  to the  Borrower  than the
               terms  and  conditions  of the Term  Loan B; (b) such  Additional
               Facility has a final  maturity  date no earlier than December 31,
               2008;  (c) each Lender under the Credit  Agreement is offered the
               opportunity  (but is not obligated) to issue a commitment for its
               pro  rata  share  of  such  Additional  Facility;   and  (d)  the
               Additional  Facility will constitute  obligations  under the Loan
               Agreement and shall rank pari passu with the other obligations.

________________________________________________________________________________
FIRST UNION-PROPOSAL                                      Strictly Confidential

                                       1
<PAGE>

MATURITY:      The Revolver  shall mature eight years from the closing date. The
               Term Loan A shall mature eight years from the closing  date.  The
               Term  Loan B shall  mature  eight  and  one-half  years  from the
               closing date.

PURPOSE:       To finance (i) the direct cost of the  construction and operation
               of a regional digital wireless  telecommunications network on the
               Sprint PCS System; (ii) transaction costs and expenses; and (iii)
               working capital and other general corporate purposes.

SECURITY:      The  Facility  shall be secured by the grant of a first  priority
               lien in  favor  of the  Administrative  Agent,  for  the  ratable
               benefit of itself and the Lenders,  on all now owned or hereafter
               acquired  tangible and  intangible  assets of the  Borrowers  and
               their  subsidiaries  (excluding,  for purposes hereof,  shares of
               Horizon Telcom, Inc. owned by Horizon), including but not limited
               to:

                    (i) all  assets  associated  with  the  Borrowers'  wireless
               communications    network,     including    without    limitation
               certifications,  licenses (to the extent  permitted by applicable
               law),  franchise rights,  rights-of-way,  and material  contracts
               (including,  without limitation, the assignment of all agreements
               and/or  licenses  with Sprint  Corp.  (collectively,  the "Sprint
               Agreement") which shall have been consented to by Sprint Corp.);

                    (ii) accounts receivable and notes receivable;

                    (iii) real estate owned or leased by the Borrowers and their
               subsidiaries, supported by landlord waivers, estoppel letters and
               other real estate security documents;

                    (iv) any intercompany loans; and

                    (v) 100% of the capital  stock or other equity  interests of
               any present and future domestic subsidiaries of the Borrowers.

               In  addition,  the  Facilities  shall be secured by the pledge of
               100%  of  the  capital  stock,  partnership  interests  or  other
               ownership  interests  of the Parent in the  Borrowers in favor of
               the  Administrative  Agent, for the ratable benefit of itself and
               the Lenders.

INTEREST RATE
OPTIONS:       The Borrowers' option of:

________________________________________________________________________________
FIRST UNION-PROPOSAL                                      Strictly Confidential

                                      2
<PAGE>

               (1)  Base  Rate:  The Base  Rate  plus the  Applicable  Base Rate
                    Margin,  as set forth in the pricing grid attached hereto as
                    Exhibit I. Loans bearing  interest at the Base Rate shall be
                    for a minimum amount of $500,000 and $250,000  increments in
                    excess thereof.

                    The Base Rate means the  greater  of (i) the  Administrative
                    Agent's Prime Rate or (ii) the overnight  federal funds rate
                    plus  0.50%.  The  Prime  Rate is an index or base  rate and
                    shall not  necessarily be its lowest or best rate charged to
                    its customers or other banks.

               (2)  LIBOR Rate:  LIBOR plus the  Applicable  LIBOR Margin as set
                    forth in the  pricing  grid  attached  hereto as  Exhibit I.
                    Loans  bearing  interest  at the LIBOR  Rate  shall be for a
                    minimum  amount of  $2,000,000  and $500,000  increments  in
                    excess thereof.

                    LIBOR  shall  mean  reserve  adjusted  LIBOR as set forth on
                    Telerate Page 3750 or as  determined  by the  Administrative
                    Agent if such  information is not available.  The LIBOR Rate
                    Option is available  for  Interest  Periods of 1, 2, 3, or 6
                    months.  No more  than six (6)  Interest  Periods  may be in
                    effect at any time.

                    LIBOR  Rate  interest,  Base  Rate  interest  based  on  the
                    overnight   federal   funds  rate  and  all  fees  shall  be
                    calculated  on a 360 day  basis,  while  Base Rate  interest
                    based on the  Administrative  Agent's  Prime  Rate  shall be
                    calculated on a 365/66 day basis.

LOANS UNDER THE
CREDIT
FACILITY:      Borrowings  may be requested  upon three business days notice for
               LIBOR  Loans and same  business  day notice for Base Rate  Loans.
               Notice must be given to the Agent by 11:00 a.m., Charlotte, North
               Carolina time, on the day on which such notice is required.

INTEREST
PAYMENTS:      Interest on Base Rate Loans will be due and payable  quarterly in
               arrears.  Interest on LIBOR Rate Loans will be due and payable at
               the end of each applicable Interest Period or, in the case of a 6
               month LIBOR Rate Loan, every 3 months.

DEFAULT
DATE:          Upon the  occurrence  and during the  continuance  of an Event of
               Default,  (i) the  Borrowers  shall no longer  have the option to
               request  LIBOR Rate Loans,  (ii) all amounts due and payable with
               respect  to LIBOR Rate Loans  shall bear  interest  at a rate per
               annum two percent (2%) in excess of the rate then  applicable  to
               such Loans until the end of the  applicable  Interest  Period and

________________________________________________________________________________
FIRST UNION-PROPOSAL                                      Strictly Confidential

                                      3
<PAGE>

               thereafter  at a rate equal to two percent  (2%) in excess of the
               rate then applicable to Base Rate Loans and (iii) all amounts due
               and payable  with  respect to Base Rate  Loans,  and all fees and
               other amounts due and payable,  shall bear interest at a rate per
               annum  equal to two  percent  (2%) in  excess  of the  rate  then
               applicable to Base Rate Loans.

LETTER OF
CREDIT
FEES:          Letter of Credit Fee:  An amount  equal to the  Applicable  LIBOR
               Margin on a per annum basis multiplied by the face amount of each
               Letter of Credit,  payable to the  Administrative  Agent, for the
               account of the Lenders, quarterly in arrears.

               Fronting  Fee: An amount equal to 0.125% per annum  multiplied by
               the  face  amount  of  each  Letter  of  Credit,  payable  to the
               Administrative  Agent (as Issuing  Lender),  for its own account,
               quarterly in arrears.

COMMITMENT
FEE:           The  Borrowers  shall  pay to the  Administrative  Agent  for the
               account  of the  Lenders  a  Commitment  Fee at a rate per  annum
               reflected on the attached Exhibit II on the unused portion of the
               Facilities, payable quarterly in arrears.

MANDATORY
COMMITMENT
REDUCTIONS:    The  aggregate  commitment  of the Lenders  under the  Facilities
               shall be permanently  reduced  quarterly  according to the annual
               percentages set forth below:

               ----------------- ---------------------- -----------------------
                                 Term Loan A Commitment  Term Loan B Commitment
                                      Reductions              Reductions
               ----------------- ---------------------- -----------------------
               Year 1                     0%                        0%
               -----------------
               Year 2                     0%                        0%
               -----------------
               Year 3                     0%                        0%
               -----------------
               Year 4                    ___%                       1%
               -----------------
               Year 5                    ___%                       1%
               -----------------
               Year 6                    ___%                       1%
               -----------------
               Year 7                    ___%                       1%
               -----------------
               Year 8                    ___%                       1%
               -----------------
               Year    9   (six                                    95%
               months)
               ----------------- ------------------------- --------------------

MANDATORY
PREPAYMENTS/
PERMANENT FACILITY
REDUCTIONS:    Outstandings  under the Facilities will be required to be prepaid
               and  the  aggregate   commitment   amount   thereunder   will  be
               permanently  reduced as follows:  (i) 100% of the net proceeds of
               any debt issuance  (excluding the initial  issuance of high yield

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FIRST UNION-PROPOSAL                                      Strictly Confidential

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               notes or high yield  bridge  notes by the Parent in an  aggregate
               amount of up to  $125,000,000  in net proceeds)  completed by the
               Parent, the Borrowers or their subsidiaries,  (ii) 50% of the net
               proceeds  of  any  equity   offering   completed  by  the  Parent
               (excluding  the initial  public  offering of common equity of the
               Parent in an aggregate  amount of not less than  $100,000,000  in
               net proceeds), the Borrowers or their subsidiaries, provided that
               such  net  proceeds  may be used to (A)  redeem  up to 35% of any
               subordinated  debt  subject to equity  clawbacks  and (B) acquire
               additional  telecommunications assets within eighteen (18) months
               of the receipt of such net proceeds  (subject to  limitations  on
               acquisitions  to be  determined),  (iii) 100% of the net proceeds
               from asset sales,  other than in the ordinary course of business,
               unless  reinvested in  replacement  assets within 180 days,  (iv)
               100% of insurance proceeds not reinvested within 180 days and (v)
               50% of Excess Cash Flow (to be defined as Consolidated  EBITDA of
               the  Borrowers  and their  subsidiaries  minus the sum of capital
               expenditures  plus  repayments of principal plus working  capital
               plus cash  interest  expense  plus  taxes) for each  fiscal  year
               commencing with the fiscal year ending December 31, 2003.

OPTIONAL
PREPAYMENTS:   Base Rate Loans may be prepaid at any time without penalty. LIBOR
               Rate Loans may be prepaid at the end of the  applicable  Interest
               Period without penalty.  Prepayment of the LIBOR Rate Loans prior
               to the  end of the  applicable  Interest  Period  is  subject  to
               payment of any funding losses.

CONDITIONS
PRECEDENT TO
INITIAL
BORROWING:     Customary  for  facilities  of this  nature,  including,  but not
               limited to,  completion  of  financial  due  diligence  and final
               credit  approval  in  form  and  substance  satisfactory  to  the
               Arranger;  credit  documentation  satisfactory  to  the  Lenders;
               receipt of a minimum $225 million in aggregate  net proceeds from
               a combination of an initial public offering, the issuance of high
               yield  or  high  yield  bridge  notes  and/or  a  private  equity
               issuance,  provided  that not less than $100  million of such net
               proceeds shall be received from the issuance of public or private
               equity,  to be  contributed to Horizon on or prior to the initial
               extension of credit under the  Facilities,  in each case on terms
               and conditions  satisfactory to the Lenders;  receipt of business
               plans with respect to the  buildout of the wireless  network each
               in  form  and  substance   satisfactory   to  the  Lenders;   all
               governmental, shareholder, corporate and third party consents and
               approvals  shall have been obtained;  modification  of key vendor
               contracts to, among other things, subordinate the lien thereof to
               the  Facilities  on  terms  and  conditions  satisfactory  to the
               Lenders; no material adverse change including no material pending
               or  threatened   litigation,   bankruptcy  or  other  proceeding;
               satisfactory  review  of all  corporate  documentation,  material

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FIRST UNION-PROPOSAL                                      Strictly Confidential

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               agreements and other legal due diligence; satisfactory completion
               of business due diligence by the Lenders; and payment of all fees
               and expenses due to the  Administrative  Agent,  the Arranger and
               their counsel.

CONDITIONS PRECEDENT
TO EACH
BORROWING:     Delivery of a borrowing notice,  accuracy of all  representations
               and warranties, absence of defaults and compliance on a pro forma
               basis with all covenants.

REPRESENTATIONS
AND
WARRANTIES:    Customary  for  facilities  of this  nature,  including,  but not
               limited  to,  corporate  existence;  corporate  and  governmental
               authorization; enforceability; financial information; no material
               adverse changes;  compliance with laws and agreements  (including
               environmental    laws);    compliance    with   all    applicable
               communications laws and regulations  (including FCC and state PUC
               regulations  and  orders);  compliance  with  ERISA;  no material
               litigation;  payment  of  taxes;  financial  condition;  and full
               disclosure.

INTEREST RATE
PROTECTION:    Within 60 days after closing,  the Borrowers  shall have fixed or
               hedged at least 50% of their debt obligations for a period of not
               less  than 3 years  on  terms  acceptable  to the  Administrative
               Agent.

AFFIRMATIVE
COVENANTS:     Customary  for  facilities  of this  nature,  including,  but not
               limited to, receipt of financial  information  (including budgets
               and business  plans to be in form and substance  satisfactory  to
               the   Administrative   Agent);    notification   of   litigation,
               investigations and other adverse changes; payment and performance
               of  obligations;  conduct of business;  maintenance of existence;
               maintenance  of  property  and  insurance  (including  hazard and
               business  interruption  coverage);  maintenance  of  records  and
               accounts; inspection of property and books and records (including
               periodic field audits),  in each case at the Borrowers'  expense;
               compliance with laws (including  environmental laws);  compliance
               with  all   applicable   communications   laws  and   regulations
               (including FCC and state PUC regulations and orders); maintenance
               of all  communications  licenses and franchises issued or granted
               by any governmental authority; payment of taxes; and ERISA.

FINANCIAL
COVENANTS:     Financial  covenants  shall  include,  but not be limited to, the
               following:

               STAGE 1: Until  Horizon has achieved  Stage 2  Compliance  (to be
               defined  as  the  earlier  of (i)  two  consecutive  quarters  of
               positive EBITDA or, (ii) [DATE TO BE DETERMINED]) covenants shall
               include:

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FIRST UNION-PROPOSAL                                      Strictly Confidential

                                       6
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          (1)  Total   Debt  to  Total   Capitalization:   As  of  any  date  of
               determination,  the  Parent  shall not  permit the ratio of Total
               Debt to Total Capitalization to exceed .75 to 1.00.

               "Debt"  means,  with  respect  to  any  Person,  the  sum  of the
               following   determined   on   a   consolidated   basis,   without
               duplication,  in accordance  with generally  accepted  accounting
               principles: (a) all liabilities, obligations and indebtedness for
               borrowed  money,  including,  but  not  limited  to,  obligations
               evidenced   by  bonds,   debentures,   notes  or  other   similar
               instruments,  (b) all  obligations  to pay the deferred  purchase
               price of property or services, including, but not limited to, all
               obligations  under  non-competition   agreements,   except  trade
               payables arising in the ordinary course of business not more than
               ninety (90) days past due,  (c) all  obligations  as lessee under
               capital  leases,  (d) all Debt of any other  Person  secured by a
               Lien on any  asset of any such  first  Person,  (e) all  guaranty
               obligations,  (f)  all  obligations,   contingent  or  otherwise,
               relative to the face amount of letters of credit,  whether or not
               drawn and banker's  acceptances,  (g) all  obligations to redeem,
               repurchase,  exchange,  defease or  otherwise  make  payments  in
               respect  of  capital  stock  or  other  securities  and  (h)  all
               termination  payments which would be due and payable  pursuant to
               any hedging agreement.

               "Total  Debt" means as of any date,  with  respect to any Person,
               all Debt of such  Person  and its  subsidiaries  determined  on a
               consolidated basis.

               "Total  Capitalization" means, with respect to any Person and its
               subsidiaries  determined on a  consolidated  basis at any date of
               determination, the sum of Total Debt plus Consolidated Net Worth.

               "Consolidated  Net Worth"  means,  with respect to any Person and
               its subsidiaries  determined on a consolidated basis, at any date
               of determination, paid-in cash equity.

          (2)  Senior  Debt  to  Total   Capitalization.   As  of  any  date  of
               determination, the Borrowers shall not permit the ratio of Senior
               Debt to Total Capitalization to exceed .45 to 1.0.

               "Senior  Debt" means as of any date,  with respect to any Person,
               all Debt of such  Person  and its  subsidiaries  determined  on a
               consolidated  basis which is not subordinated in right of payment
               to the Facilities.

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FIRST UNION-PROPOSAL                                      Strictly Confidential

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          (3)  Minimum Covered POPs: As of any fiscal quarter end, the Borrowers
               shall   maintain   minimum   covered   POPs  in  amounts  [TO  BE
               DETERMINED].

          (4)  Maximum EBITDA  Losses/Minimum  EBITDA:  As of any fiscal quarter
               end,  the  Borrowers  shall not  permit  EBITDA  losses to exceed
               amounts to be determined [120%/80% OF BORROWER PROJECTIONS].

               "EBITDA"  means,  for  any  period,  the  sum  of  the  following
               determined on a consolidated basis, without duplication,  for the
               Borrowers and their  subsidiaries  in accordance  with  generally
               accepted  accounting  principles:  (a) net income for such period
               plus  (b) the sum of the  following  to the  extent  deducted  in
               determining  net income:  (i) income and  franchise  taxes,  (ii)
               interest  expense,  (iii)  amortization,  depreciation  and other
               non-cash  charges less (c) interest income and any  extraordinary
               gains.

          (5)  Minimum Total Revenues: [80% OF BORROWERS' PROJECTIONS].

          (6)  Minimum Subscribers: [TO BE DETERMINED].

          (7)  Maximum Capital Expenditures: [TO BE DETERMINED].

          STAGE 2: Once Horizon has  achieved  Stage 2  Compliance,  the Stage 1
          covenants  shall cease to be  effective  and the  following  covenants
          shall be applicable:

          (1)  Total Debt/EBITDA: As of any fiscal quarter end, the Parent shall
               not permit the ratio of (a) Total Debt on such date to (b) EBITDA
               for the most  recently  ended six month period times two (2) (the
               "Parent  Leverage  Ratio"),  to be greater than [______] to 1.00,
               with stepdowns to be determined.

          (2)  Senior  Debt/EBITDA:  As of any fiscal quarter end, the Borrowers
               shall not permit the ratio of (a) Senior Debt on such date to (b)
               EBITDA for the most recently ended six month period times two (2)
               (the "Borrower Senior Leverage Ratio"),  to be greater than [___]
               to 1.0, with stepdowns to be determined.

          (3)  Minimum  Interest  Coverage:  As of any fiscal  quarter  end, the
               Borrowers  shall not  permit the ratio of (a) EBITDA for the most
               recently  ended six month period to (b) Interest  Expense for the
               most  recently  ended six month  period to be less than  [___] to
               1.00, with stepups to be determined.

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FIRST UNION-PROPOSAL                                      Strictly Confidential

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<PAGE>

               "Interest Expense" means, for any period,  total interest expense
               (including, without limitation,  interest expense attributable to
               capital  leases)  determined  on a  consolidated  basis,  without
               duplication,   for  the  Borrowers  and  their   subsidiaries  in
               accordance with generally accepted accounting principles.

          (4)  Minimum Fixed Charge Coverage:  As of any fiscal quarter end, the
               Borrowers  shall not  permit the ratio of (a) EBITDA for the most
               recently  ended  six  month  period  times  two (2) to (b)  Fixed
               Charges for the period of four (4)  consecutive  fiscal  quarters
               ending on or immediately prior to such date to be less than [___]
               to 1.00, with stepups to be determined.

               "Fixed Charges" means,  for any period,  the sum of the following
               determined on a consolidated basis, without duplication,  for the
               Borrowers and their  subsidiaries  in accordance  with  generally
               accepted  accounting  principles:  (a)  scheduled  principal  and
               interest payments, (b) capital expenditures,  (c) cash taxes, and
               (d) cash dividends.

          (5)  Maximum Capital Expenditures: [TO BE DETERMINED].

NEGATIVE
COVENANTS:     Customary  for  facilities  of this  nature,  including,  but not
               limited to,  restrictions and limitations on: other indebtedness;
               liens;  dividends and  distributions  (provided that dividends to
               the Parent in amounts  necessary to pay interest  obligations  in
               respect of the high yield indebtedness shall be permitted so long
               as no  default  or event of default  shall  have  occurred  or be
               continuing);  asset  sales;  guaranty  obligations;   changes  in
               business;  consolidations and mergers; acquisitions [CARVE OUT TO
               BE  DETERMINED];   loans  and  investments;   transactions   with
               affiliates; sale and leaseback transactions; optional prepayments
               of and material  amendments to indebtedness  (including,  without
               limitation,   optional  prepayment  of  any  subordinated  debt);
               restrictive agreements;  and changes in fiscal year or accounting
               method.

EVENTS OF
DEFAULT:       Customary  for  facilities  of  this  nature,  including  but not
               limited to: failure to pay any interest,  principal or fees under
               the  Facilities  when due;  failure to perform  any  covenant  or
               agreement;  inaccurate  or false  representation  or  warranties;

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FIRST UNION-PROPOSAL                                      Strictly Confidential

                                       9
<PAGE>

               loss,  termination or revocation of any  communications  licenses
               and franchises  issued or granted by any governmental  authority;
               cross  defaults  (including   cross-defaults  to  other  material
               contracts);  insolvency or bankruptcy;  ERISA; judgment defaults;
               change  in  control;  and any  other  events  of  default  deemed
               reasonably  necessary by the Administrative Agent and the Lenders
               in the context of the proposed transaction.

ASSIGNMENTS &
PARTICIPATION: Assignments in minimum  amounts of $5,000,000  shall be permitted
               subject to the  consent of the  Administrative  Agent and subject
               (so long as no default or event of default  has  occurred  and is
               continuing) to consent of the Borrowers,  such consents not to be
               unreasonably   withheld  or  delayed.   Participations  shall  be
               permitted in minimum  amounts of  $5,000,000.  Assignment  fee of
               $3,500  shall  be  payable  to the  Administrative  Agent  by the
               issuing Lender.

INCREASED COSTS
CHANGE OF
CIRCUMSTANCES: Provisions  customary in facilities of this type  protecting  the
               Lenders in the event of  unavailability  of funding,  illegality,
               capital adequacy requirements, increased costs, withholding taxes
               and funding losses.

REQUIRED
LENDERS:       On any date of determination, those Lenders who collectively hold
               at least 66 2/3% of outstandings,  or if no  outstandings,  those
               Lenders who  collectively  hold at least 66 2/3% of the aggregate
               commitment of the Lenders.

WAIVER OF JURY
TRIAL,
GOVERNING
LAW:           Waiver of jury trial,  submission to  jurisdiction  in Charlotte,
               North  Carolina and mandatory  binding  arbitration in Charlotte,
               North Carolina.  North Carolina law (without  reference to choice
               of law provisions) to govern.

COUNSEL TO
ADMINISTRATIVE
AGENT:         Moore & Van Allen, PLLC.

MISCELLANEOUS: This  summary  of  terms  and  conditions  does  not  purport  to
               summarize  all  the   conditions,   covenants,   representations,
               warranties  and other  provisions  which  would be  contained  in
               definitive credit  documentation for the Facilities  contemplated
               hereby.

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FIRST UNION-PROPOSAL                                      Strictly Confidential

                                       10
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                                    EXHIBIT I

Prior to Horizon  achieving  Stage 2 Compliance  (and thereafter at any time the
Borrowers fail to maintain Stage 2 Compliance),  the following pricing grid will
be applicable:

Revolver/Term         Revolver/Term
   Loan A                Loan A             Term Loan B           Term Loan B
Applicable LIBOR      Applicable Base      Applicable LIBOR      Applicable Base
   Margin              Rate Margin            Margin              Rate Margin
-------------------------------------------------------------------------------
  3.50%                  2.50%                  4.00%                  3.00%

Once  Horizon has  reached  Stage 2  Compliance  and  thereafter  as long as the
Borrowers  maintain  such  compliance,   the  following  pricing  grid  will  be
applicable:

                         Revolver/Term Revolver/Term   Term        Term Loan B
                             Loan A      Loan A       Loan B        Applicable
Total Consolidated         Applicable   Applicable  Applicable        Base
   Debt/EBITDA             Base Rate    Base Rate   LIBOR Margin   Rate Margin
   -----------             ---------    ---------   ------------   -----------

     > 10.0 to 1.0             3.25%       2.25%       4.00%           3.00%
> 8.0 to 1.0 but < 10.0        3.00%       2.00%       4.00%           3.00%
         to 1.0
 > 7.0 to .10 but < 8.0        2.75%       1.75%       4.00%           3.00%
         to 1.0
 > 6.0 to .10 but < 7.0        2.50%       1.50%       4.00%           3.00%
         to 1.0
 > 5.0 to .10 but < 6.0        2.25%       1.25%       4.00%           3.00%
         to 1.0
      < 5.0 to 1.0             2.00%       1.00%       4.00%           3.00%

                                   EXHIBIT II

                   Drawn Portion             Commitment Fee
                ------------------------- ----------------------
                         <33%                   1.375%
                         <66%                   1.125%
                         >66%                   0.75%

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FIRST UNION-PROPOSAL                                      Strictly Confidential

                                       11
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