Document:

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                                                                   EXHIBIT 10.18

                       GUARANTY OF PAYMENT AND PERFORMANCE

           THIS GUARANTY OF PAYMENT AND PERFORMANCE ("Guaranty"), dated as of
January 15, 2000, is made by the undersigned, U.S. TRUCKING, INC., a _________
corporation, and LOGISTICS MANAGEMENT, LLC, a ___________ limited liability
company (hereinafter jointly, severally and collectively referred to as
"Guarantor"), with SOUTHTRUST BANK, N.A., a national banking association
("Bank").

                              W I T N E S S E T H:

           FOR VALUE RECEIVED, and to induce Bank to make a loan, extend credit
or make other financial accommodations available to PROFESSIONAL TRANSPORTATION
GROUP LTD., INC., a Georgia corporation, and TIMELY NORTH, INC., a Georgia
corporation (as hereinafter further defined, collectively "Borrower"), and for
the consideration set forth below, Guarantor hereby agrees with Bank as follows:

                 1. PURPOSE. This Guaranty is made for the purpose of securing
for Borrower one or more loans or other extensions of credit from, or a line of
credit with, or the issuance of one or more letters of credit by, or the
acceptance of one or more bankers' acceptances by, or the lease of personal
property from or the furnishing of other financial accommodations by Bank, in
amounts and upon terms and conditions as Bank, in its sole discretion, may deem
appropriate. All such loans or other financial accommodations now or hereafter
provided by Bank to Borrower, and all extensions or renewals of debts or other
obligations now or at any time hereafter owing by Borrower to Bank, are made by
Bank in reliance on this Guaranty, are to the interest and benefit of Guarantor,
and are sufficient consideration for the execution and delivery of this Guaranty
by Guarantor. Each term and provision of every promissory note or other evidence
of debt, and every loan agreement, security agreement, mortgage, deed to secure
debt, deed of trust, letter of credit reimbursement agreement, bankers'
acceptance agreement, lease agreement and every other contract now or hereafter
executed by Borrower and delivered to Bank, shall bind Guarantor as if executed
by Guarantor as the primary and individual obligation of Guarantor.

                 2. GUARANTY. Guarantor, jointly and severally if more than one,
hereby unconditionally guarantees to Bank the prompt payment and performance by
Borrower when due of all the Guaranteed Obligations (as hereinafter defined).
This Guaranty is a guaranty of payment and performance and not of collection. In
the event Borrower at any time fails to pay or perform any of the Guaranteed
Obligations as and when the same become due, whether by acceleration of maturity
or otherwise, and in accordance with all applicable terms and conditions,
Guarantor agrees to pay such debt or perform such obligation immediately. Upon
failure of Guarantor to do so, Bank may, in its discretion, enforce the
collection of such debt or the performance of such obligation against Guarantor
by action in any court of competent jurisdiction, or in any other manner
provided by law, the same as if such debt or obligation were the primary and
individual debt or obligation of Guarantor, and without first seeking to enforce
such debt or obligation by action or otherwise against Borrower; or, Bank may,
in its discretion, proceed in any manner provided by law or by contract for
collection of debts against either or both Guarantor and Borrower the same as if
such debts and obligations were primarily and individually the debt of both
Guarantor and Borrower, jointly and severally.

                 3. CONTINUING GUARANTY. THIS GUARANTY IS AN ABSOLUTE,
UNCONDITIONAL AND CONTINUING GUARANTEE. This Guaranty extends to all Guaranteed
Obligations contracted or owing by Borrower to Bank now and at any time prior to
Bank's return of this Guaranty to Guarantor or the termination of this Guaranty
pursuant to the provisions of this paragraph, even though from time to time and
for extended periods of time there may be no debt or obligation owed to Bank by
Borrower. Subject to the following provisions, Guarantor shall have the right to
terminate this Guaranty at any

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time effective ten (10) days after receipt by Bank of written notice of
Guarantor's intention to terminate this Guaranty. Such termination will not
affect Guarantor's obligations with respect to, and this Guaranty will remain in
full force and effect with respect to, all of the Guaranteed Obligations then
due and owing or then contracted for or existing, whether or not yet due, at the
time such notice becomes effective, and all obligations described in paragraph
4.e. of this Guaranty, whether then existing or arising in the future, and also
with respect to any subsequent loans, extensions of credit, and other financial
accommodations which, prior to the effectiveness of such notice, Bank may have
committed to make to Borrower (regardless of whether Bank waives any default or
condition precedent to the making of such loans, extensions of credit, or other
financial accommodations), together with all interest thereon and all expenses,
including costs of collection and attorneys' fees, with respect to such
Guaranteed Obligations and this Guaranty.

                 4. WAIVERS AND AGREEMENTS OF GUARANTOR. Guarantor hereby
irrevocably:

                    a. Consents to all terms, covenants, conditions and
agreements heretofore or hereafter made by Borrower with Bank, including,
without limitation, agreements regarding the manner of disposing any collateral
held as security for the Guaranteed Obligations in a commercially reasonable
manner and agreements regarding the manner and time of giving notice of any sale
or other intended disposition of any of such collateral;

                    b. Consents that Bank may, without discharging Guarantor or
in any way affecting the obligations of Guarantor under this Guaranty, without
notice to or further consent from Guarantor: (i) exchange, release or surrender
to Borrower or to any Guarantor or any other person, or waive, release,
subordinate, fail to perfect any lien or security interest in, or otherwise
impair, any collateral now or hereafter held as security for any of the
Guaranteed Obligations or any right of set off against any deposit account of
Borrower; (ii) waive or delay the exercise of any of its rights or remedies
against Borrower or any other person or entity, including, without limitation,
Guarantor; (iii) with or without consideration, release Borrower or any other
person or entity, including, without limitation, any other guarantor of the
Guaranteed Obligations; (iv) renew, extend, or modify the terms of any of the
Guaranteed Obligations or of any promissory note or other instrument or
agreement evidencing the same; (v) apply payments made by Borrower, Guarantor or
any other person or entity to any of the Guaranteed Obligations in such manner
and in such order as Bank may elect; (vi) apply payments received for Borrower's
account first to pay any indebtedness of Borrower that is not guaranteed by
Guarantor, if any, before reducing the Guaranteed Obligations; and (vii) in the
event of the filing of a petition (whether voluntary or involuntary) under any
chapter of the federal bankruptcy code with respect to Borrower, participate in
the bankruptcy proceedings and exercise any and all rights set forth in clauses
(i) through (vi) above or otherwise available to Bank under applicable law,
including, without limitation, voting for or against any plan of reorganization,
consenting to the use of any cash collateral, consenting to the sale, use or
lease of any collateral securing any of the Guaranteed Obligations, and entering
into any compromise or settlement regarding the Guaranteed Obligations or any
collateral therefor;

                    c. Waives all notices whatsoever with respect to this
Guaranty or with respect to the Guaranteed Obligations or any collateral
therefor, including, without limitation, notice of (i) Bank's acceptance of this
Guaranty or its intention to act, or its actions, in reliance hereon; (ii) the
existence, creation or incurring of any of the Guaranteed Obligations or the
terms or amounts thereof or any change therein; (iii) presentment and nonpayment
or dishonor with respect to any promissory note or other instrument or agreement
now or hereafter evidencing any of the Guaranteed Obligations, and any other
demands and notices, except any notice that may be required by law which cannot
be waived; (iv) any default by Borrower or any surety, pledgor, grantor of any
lien or security interest, or guarantor, including, without limitation,
Guarantor; (v) the obtaining or release of any guaranty or

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surety agreement (in addition to this Guaranty), or any pledge, assignment,
security agreement, mortgage, deed to secure debt, deed of trust or other
security for any of the Guaranteed Obligations;

                    d. Waives any right to require Bank to take action against
Borrower as provided for in Section 10-7-24 of the Official Code of Georgia
Annotated or any other statute or applicable law, and waives any requirement
that suit under this Guaranty be brought within any period of time shorter than
the general statute of limitations applicable to contracts under seal;

                    e. Agrees that, if at any time all or any part of any
payment previously applied by Bank to any of the Guaranteed Obligations must be
returned by Bank for any reason, whether upon the claim of a preference,
fraudulent transfer, prior lien or other claim of a creditor, debtor in
possession, trustee in bankruptcy or other representative of creditors of
Borrower, or otherwise, and whether by court order, administrative order or
non-judicial settlement, this Guaranty shall continue in effect or shall be
reinstated, as the case may be, and Guarantor shall remain liable for the full
amount returned as if such amount had never been received by Bank,
notwithstanding any termination, cancellation or revocation of this Guaranty
(whether under paragraph 3 above or otherwise) or cancellation of any promissory
note or other instrument or agreement evidencing any of the Guaranteed
Obligations;

                    f. Agrees that this Guaranty will be valid and binding upon
Guarantor when delivered to Bank by anyone having possession hereof after
execution of this Guaranty by Guarantor.

                    g. Agrees that Guarantor's liability under this Guaranty is
absolute and is not conditioned on the execution of this or any similar guaranty
by any other person or upon the occurrence or nonoccurrence of any other event;

                    h. Waives any right to require Bank to marshall the assets
of Borrower or any other person and agrees that Bank may proceed against any
collateral securing the Guaranteed Obligations (whether or not Guarantor or any
other person holds a lien on only a part of such collateral) and against parties
liable on any of the Guaranteed Obligations in such order as Bank may elect, the
benefit of any rule of law or equity to the contrary being hereby expressly
waived by Guarantor;

                    i. Agrees that the liability of Guarantor under this
Guaranty shall not be affected or impaired by, and this Guaranty shall remain
fully enforceable against Guarantor for the full amount of the Guaranteed
Obligations less only payments thereon actually received and retained by Bank
irrespective of and without reduction on account of (i) any defense, offset or
counterclaim which Borrower may have or assert with respect to any of the
Guaranteed Obligations, including, without limitation, filing of a petition in
bankruptcy, discharge in bankruptcy, confirmation of a plan or reorganization
(whether Bank voted for or against such plan), composition with creditors
(whether or not including Bank), failure of consideration, breach of warranty,
statute of frauds, statute of limitations, accord and satisfaction, wavier,
estoppel, release, usury, or fraud or misrepresentation, (ii) termination of any
present or future relationship between Guarantor and Borrower or between
Guarantor and any other guarantor of any obligations of Borrower, or (iii)
death, incompetency, or dissolution of Guarantor or Borrower;

                    j. Agrees that Bank may, at its election, release or satisfy
of record any collateral for this Guaranty only after any applicable preference
periods have elapsed; and

                    k. Waives, renounces and agrees not to assert any right,
claim or cause of action against Borrower, including, without limitation, a
claim for reimbursement, subrogation, indemnification or otherwise. The waiver,
renunciation and agreement set forth in the preceding sentence is for the
benefit of Bank and also for the benefit of Borrower, who may assert the
benefits thereof as a

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third-party beneficiary and Guarantor may be released from such waiver,
renunciation and agreement only by the execution and delivery, by Bank and
Borrower, of an instrument expressly releasing Guarantor therefrom.

             5. FINANCIAL STATEMENTS. Guarantor agrees, for so long as there is
any amount outstanding of the Guaranteed Obligations, to provide Bank copies of
each income tax return filed by Guarantor after the date of this Guaranty and
financial statements and other information of or concerning Guarantor, in such
detail, of such quality (i.e., audited, reviewed, unaudited or otherwise), and
with such frequency as Bank may reasonably request from time to time. All
financial statements required by Bank as set forth above shall be prepared in
accordance with generally accepted accounting principles (except for the absence
of footnotes with respect to monthly and quarterly financial statements) and
shall fairly present the financial position and results of operations of
Guarantor as of and for the periods specified.

             6. STATUTE OF LIMITATIONS. Guarantor acknowledges that the statute
of limitations applicable to this Guaranty shall begin to run only upon
Guarantor's failure to refusal to pay any of the Guaranteed Obligations
following default in the payment or performance thereof by Borrower; provided,
that if subsequent to such default, Bank reaches an agreement with Borrower on
any terms causing Bank to forbear in the enforcement of its claims against
Guarantor, the statute of limitations shall be reinstated for its full duration
until Borrower again defaults.

             7. COLLECTION COSTS. Guarantor hereby agrees to pay all costs of
collecting under this Guaranty, including, without limitation, court costs,
litigation expenses and attorneys' fees in an amount equal to fifteen percent
(15%) of the unpaid balance of the Guaranteed Obligations if referred to an
attorney for collection. If attorneys' fees in such amount would be prohibited
by applicable law, then Guarantor agrees to pay reasonable attorneys' fees not
to exceed the maximum amount allowed by law.

             8. NOTICES. Any and all notices, elections, demands, requests and
responses thereto permitted or required to be given under this Guaranty shall be
in writing, signed by or on behalf of the party giving the same, and shall be
deemed to have been properly given and shall be effective upon being personally
delivered, or three (3) days after being deposited in the United States mail,
postage prepaid, certified with return receipt requested, to Guarantor if mailed
to the address set forth above Guarantor's name at the end of this Guaranty and
to Bank at the address set forth in the beginning of this Guaranty or at such
other address within the continental United States for either party as such
party may designate by notice to the other given in accordance with the
provisions of this paragraph; provided, however, that the time period in which a
response to any such notice, election, demand or request must be given shall
commence on the date of receipt thereof; and provided further that no notice of
change of address shall be effective until the date of receipt thereof. Personal
delivery to a party or to any officer, partner, agent or employee of such party
at said address shall constitute receipt. Rejection or other refusal to accept
or inability to deliver because of a changed address of which no notice has been
received shall also constitute receipt.

             9. CONSENT TO JURISDICTION. GUARANTOR HEREBY CONSENTS TO THE
JURISDICTION OF ANY STATE OR FEDERAL COURT LOCATED IN THE STATE OF GEORGIA AND,
TO THE EXTENT PERMITTED BY APPLICABLE LAW, WAIVES ANY OBJECTION BASED ON VENUE
OR FORUM NON CONVENIENS WITH RESPECT TO ANY ACTION INSTITUTED IN ANY SUCH COURT
AND AGREES THAT SERVICE OF PROCESS IN ANY SUCH ACTION WILL BE SUFFICIENT IF
SERVED ON GUARANTOR IN CANADA OR THE UNITED STATES OF AMERICA BY CERTIFIED MAIL,
RETURN RECEIPT REQUESTED OR IN ANY MANNER PROVIDED BY LAW. NOTWITHSTANDING THE
FOREGOING, BANK SHALL HAVE THE RIGHT TO BRING ANY ACTION OR PROCEEDING AGAINST
GUARANTOR OR GUARANTOR'S PROPERTY IN THE COURTS OF ANY OTHER JURISDICTION BANK
DEEMS NECESSARY OR APPROPRIATE IN ORDER TO ENFORCE THE OBLIGATIONS OF GUARANTOR
UNDER THIS GUARANTY.

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             10. DEFINITIONS. As used in this Guaranty, the following terms have
the following meanings:

             "Borrower" means the entity identified above in this Guaranty,
together with his, her, its or their heirs, administrators, executors,
successors and assigns, including any resulting or surviving corporation
following any merger or any other reorganization, and also includes any debtor
in possession or similar entity following the filing of a petition for relief by
or against Borrower under any chapter of the federal bankruptcy code or in any
similar proceeding under state or federal law, and also includes any
proprietorship, partnership, corporation, trust, or other entity resulting from
or arising out of the dissolution, liquidation or change in form of business
organization by Borrower or following any change of name or domicile by
Borrower.

             "Guaranteed Obligations" means all debts and other obligations now
owed by Borrower to Bank, all debts and other obligations owed by Borrower to
Bank in the future, all extensions and renewals of any such debts or
obligations, and all interest and other lawful fees and charges on any or all
such debts and obligations, including, without limitation, late charges, penalty
interest, premiums and costs of collection (including reasonable attorneys'
fees) for which Borrower has agreed to pay or reimburse Bank, or for which
Borrower is obligated to pay Bank under applicable law, together with each and
every promissory note or other instrument or writing now or hereafter evidencing
the obligation of Borrower to pay any such debt, the interest thereon or such
other charges; whether such debts or other obligations are now foreseen or
unforeseen; whether now due or to become due in the future; whether incurred
with or without notice to Guarantor; whether arising from contract, tort or
otherwise; whether arising from an original obligation of Borrower to Bank or
from an obligation of Borrower which was purchased by Bank, whether from time to
time increased, reduced or entirely extinguished and then reincurred; whether
direct or indirect, absolute or contingent, liquidated or unliquidated, secured
or unsecured; whether otherwise guaranteed or not; and whether arising out of
one or more loans or other extensions of credit from, or line of credit with, or
the issuance of one or more letters of credit by, or the acceptance of one or
more bankers' acceptances by, or the lease of personal property from, or the
furnishing of other financial accommodation by Bank, or otherwise. The
Guaranteed Obligations include, without limitation, interest, fees and other
charges on any debt or obligation of Borrower to Bank accruing after the filing
of a petition under any chapter of the federal bankruptcy code by or against
Borrower and any loans or other credit or financial accommodations extended to
Borrower after the filing of any such petition. THE GUARANTEED OBLIGATIONS
SPECIFICALLY ARE NOT LIMITED TO DEBTS AND OTHER OBLIGATIONS CONTRACTED FOR OR
ARISING CONCURRENTLY WITH OR PRIOR TO THE EXECUTION OF THIS GUARANTY AND ARE NOT
LIMITED IN AMOUNT UNLESS OTHERWISE SPECIFICALLY SET FORTH IN WRITING IN THIS
GUARANTY.

             11. MISCELLANEOUS. No delay by Bank in enforcing its rights
hereunder shall prejudice its rights to enforce this Guaranty. All rights and
remedies under this Guaranty, under any other agreement and under applicable law
shall be cumulative, and any failure of Bank to exercise any such right or
remedy shall not be construed as a waiver of the right to exercise the same or
any other right or remedy at any time and from time to time, thereafter. No
waiver by Bank shall be effective unless made in writing by a duly authorized
officer or agent of Bank, and no waiver by Bank of any right or remedy shall
constitute a waiver of any other or future right or remedy. This Guaranty shall
inure to the benefit of Bank, its successors and assigns, and to any person to
whom Bank may grant an interest in any of the Guaranteed Obligations, and shall
be binding upon Guarantor, and his, her, its or their respective heirs,
executors, administrators, successors and assigns. This Guaranty sets forth the
entire agreement and understanding of Guarantor with respect to the subject
matter hereof. GUARANTOR ACKNOWLEDGES THAT NO AGENT OF BANK HAS MADE ANY
REPRESENTATION WHICH IS INCONSISTENT WITH ANY OF THE TERMS OF THIS GUARANTY AND
THAT NO OFFICER OR AGENT OF BANK HAS THE AUTHORITY TO VARY THE TERMS OF THIS
GUARANTY EXCEPT IN A WRITING SIGNED BY A DULY AUTHORIZED

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OFFICER OF BANK. The making of the loans and providing of the other financial
accommodations referred to in this Guaranty shall be solely in the discretion of
Bank, and reference thereto in this Guaranty, whether in paragraph 1 hereof or
elsewhere, shall not be deemed to be a commitment by Bank to make any loan or
provide any financial accommodation. In the event any one or more of the
provisions of this Guaranty shall be invalid, illegal or unenforceable in any
respect, the validity, legality and enforceability of the remaining provisions
of this Guaranty shall not in any way be affected or impaired thereby. If more
than one person or entity signs this Guaranty below, the liability of such
persons or entities on this Guaranty is joint and several, and all references to
the singular in this Guaranty also include the plural. In the event of
termination, cancellation, revocation or release of this Guaranty as to any one
or more Guarantors, this Guaranty shall continue in full force and effect with
respect to the remaining Guarantors. THIS GUARANTY SHALL BE GOVERNED, CONSTRUED
AND ENFORCED IN ACCORDANCE WITH THE SUBSTANTIVE LAWS OF THE STATE OF GEORGIA,
WITHOUT REGARD TO PRINCIPLES OF CONFLICT OF LAWS.

       IN WITNESS WHEREOF, Guarantor has executed this Guaranty under seal as of
the date first above written.

ADDRESSES OF
EACH GUARANTOR:    U.S. Trucking, Inc.
                   3125 Ashley Phosphate Road
                   Suite 128
                   North Charleston, South Carolina 29418

                   Logistics Management, LLC
                   1062 Timberwood Circle
                   Louisville, Kentucky 40223

                                    GUARANTOR:

                                    U.S. TRUCKING, INC., a _________ corporation

                                   By:
                                       -----------------------------------------
                                       Anthony Huff, Chairman

                                   By:
                                       -----------------------------------------
                                       Dan Pixler, President

                                             [CORPORATE SEAL]

                                   LOGISTICS MANAGEMENT, LLC, a _______ limited
                                   liability company

                                   By:                                    (SEAL)
                                       ------------------------------------
                                                              , Manager
                                       -----------------------

                                      -6-<PAGE>   1
                                                                   EXHIBIT 10.19

                                  BILL OF SALE

       For $6.0 million, Gulf Northern Transport, Inc. ("Seller") hereby sells,
assigns and transfers to One Way Logistics, Inc. ("Buyer") all of the right,
title and interest in and to the equipment described on the attached listing
(the "Assets").

       This instrument is a transfer and conveyance by Seller to Buyer of good
and transferable title to said Assets free and clear of all liens, security
interests, charges and encumbrances, other than as previously disclosed to
Buyer. The Seller hereby covenants and agrees to warrant and defend title to
said Assets against any and all persons whatsoever.

Dated: As of December 31, 1999

                                          GULF NORTHERN TRANSPORT, INC.

                                          BY:
                                              ----------------------------------

<PAGE>   2

                                PROMISSORY NOTE

$6,000,000                                                     DECEMBER 31, 1999

        FOR VALUE RECEIVED, One-Way Logistics, Inc. (the "Debtor"), hereby
promises to pay to Gulf Northern Transport, Inc. (hereinafter referred to as the
"Payee"), Six Million Dollars ($6,000,000), together with interest on the unpaid
principal balance at a rate of nine percent (9%) per annum, payable in 48
consecutive equal monthly payments of principal and interest in the amount of
$149,310.25 on the first day of each month beginning February 1, 2000, and
continuing until the entire indebtedness is fully paid. Debtor shall have the
right to prepay this Note without penalty or charge of any kind.

        If any deficiency in the payment of any installment under this Note is
not made good prior to ten (10) days after same becomes due and payable, the
entire balance and accrued interest shall at once become due and payable at the
option of the holder of this Note upon written notice to Debtor. Failure to
exercise this option shall not constitute a waiver of the right to exercise the
same in the event of any subsequent default.

        Presentment, demand and protest, and notices of protest, dishonor, and
non-payment of this Note and all notices of every kind are hereby waived.

        No single or partial exercise of any power hereunder shall preclude the
other or further exercise thereof or the exercise of any other power. No delay
or omission on the part of the holder hereof in exercising any right hereunder
shall operate as a waiver of such right or of any other right under this Note.

        This Note shall be deemed to be a contract made under the laws of the
State of South Carolina.

                                    DEBTOR:
                                    ONE-WAY LOGISTICS, INC.

                                    BY:
                                        ----------------------------------------

                                    TITLE:
                                           -------------------------------------

<PAGE>   3

                               SECURITY AGREEMENT

THIS SECURITY AGREEMENT dated December 31, 1999 by and between ONE WAY
LOGISTICS, INC., (herein called the "Debtor") and GULF NORTHERN TRANSPORT, INC.
(herein called the "Lender");

In consideration of the mutual covenants herein contained, and other good and
valuable consideration, the parties hereto agree as follows:

                                   SECTION ONE
                              THE SECURITY INTEREST

The Debtor hereby grants to the Lender, as the Secured Party hereunder, a
security interest in the collateral described in Exhibit A attached hereto and
made a part hereof (the "Collateral") to secure the indebtedness of Debtor to
Lender under a certain Promissory Note dated the date hereof (the "Note") in the
principal amount of $6,000,000 (the "Liabilities").

                                   SECTION TWO
                          COVENANTS AND REPRESENTATIONS

The Debtor covenants and represents as follows:

SECTION 2.1.  OWNERSHIP.  The Debtor is and shall continue to be
the owner of the Collateral free of any lien or encumbrances
(except of the Lender) and will defend same against all adverse
claims and demands.

SECTION 2.2. POSSESSION. Unless the Lender demands possession or agrees
otherwise, the Debtor shall have possession of the Collat eral in trust for the
Lender and shall not sell, lease, encumber or dispose of the Collateral.

                                  SECTION THREE
                         EVENTS OF DEFAULT AND REMEDIES

SECTION 3.1. EVENTS OF DEFAULT. The failure by Debtor to pay any of the
Liabilities within when due, or actual or constructive termination of the agency
relationship between Debtor and Lender, shall constitute a default hereunder and
under the Note.

SECTION 3.2. RIGHTS AFTER DEFAULT. Upon occurrence of any event of default and
failure of Debtor to cure such default within ten (10) days after notice of such
default by Lender, all the Liabilities, at the option of the Lender, and
without any notice or demand, shall become due and payable immediately and
Lender shall enjoy all rights and remedies for default provided by law and in

<PAGE>   4

this or any other instrument of the Debtor to the Lender or to which the Debtor
and the Lender are parties. The Lender may require the Debtor to assemble the
Collateral and to make it available to the Lender at any convenient place
designated by the Lender, which the Debtor hereby agrees to do. At any time or
times after the Liabilities become due, the Lender is empowered to collect,
sell, assign, transfer, set over and deliver the whole or any part of the
Collateral, as may be appropriate, at public or private sale, either for cash or
on credit or for future delivery, without assumption or credit risk, without
demand, advertisement, or notice, which are hereby expressly waived, unless
prohibited by law, and at any such sale the Lender may become the purchaser of
the whole or any part of the collateral, discharged from any right of
redemption. Upon any such sale, after deducting all costs and expenses of every
kind, the residue of proceeds thereof may be applied as the Lender may determine
toward the payment of any or all of the Liabilities, whether due or not due,
returning the surplus, if any, to the Debtor, and the Debtor shall be and remain
liable to the Lender for any and every deficiency after application of such
proceeds as aforesaid. The Lender is authorized to trans fer into its own name
or that of its nominee, at any time and from time to time, any or all of the
collateral. The Lender shall not be bound to take any steps to preserve any
rights in the Collateral against prior parties which the Debtor hereby assumes
to do and the Lender shall have exercised reasonable care in the custody and
preservation of the Collateral if it takes such action for that purpose as the
Debtor may reasonably request, but no omission to comply with any such request
shall be deemed a failure to exercise reasonable care.

                                  SECTION FOUR
                                  MISCELLANEOUS

SECTION 4.1. WAIVER. The Lender shall not be deemed to have waived any of its
rights hereunder or in the Collateral (or any part thereof) unless such waiver
is in writing, and no delay or omission by the Lender in exercising any right
shall operate as a waiver thereof or of any other rights. The Lender may permit
the Debtor to remedy any default without waiving the default so remedied and
the Lender may waive any default without waiving any other subsequent or prior
default by the Debtor.

SECTION 4.2. NOTICES. Written notice, when required by law, sent to the address
of the Debtor at least 10 calendar days (counting the day of sending) before the
date of a proposed disposition of the Collateral is reasonable notice.

SECTION 4.3.  TERM.  This Agreement and the security interest in the Collateral
created hereby shall terminate when the Liabilities have been paid in full
Lender relating to the Liabilities have

<PAGE>   5

terminated, and prior to such payment and termination, this shall
be a continuing agreement.

SECTION 4.4. EXECUTION OF DOCUMENTS. The Debtor will execute all necessary
documents to accomplish the purpose hereof, including financing statements
required to perfect and continue the validity of the security interest of the
Lender hereunder.

SECTION 4.5.  GOVERNING LAW.  This Agreement shall be deemed to be
a contract made under and shall be construed in accordance with the
internal laws of the state of South Carolina.

SECTION 4.6.  REPORTS.  Debtor shall promptly provide to the Lender
any financial information of the Debtor reasonably requested by
Lender.

IN WITNESS WHEREOF, the parties have cause this Security Agreement to be
executed on December 31, 1999.

ONE WAY LOGISTICS, INC.                         GULF NORTHERN TRANSPORT, INC.

BY:                                             BY:
   ---------------------------------               -----------------------------
   Rick Kelly, President                           Danny Pixler, President

<PAGE>   6

                                    EXHIBIT A

The following property of the Debtor and any and all additions, substitutions,
accessions, proceeds and products thereto or thereof: all of the Debtor's
property, tangible or intangible, now or hereafter existing and wherever
located, including, without limitation, all of its inventory, goods, materials,
machinery, motor vehicles, trailers, equipment, accounts, accounts receivable,
contracts rights, chattel paper, instruments, software programs, specifications,
source code, engineering designs, trade secrets and other proprietary
technology, notes, memoranda, drawings and other data, general intangibles,
computer hardware and peripheral equipment, and all other assets of any kind now
existing or hereafter arising.

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