Document:

Exhibit 10.9

                                 PROMISSORY NOTE

US$4,000,000.00                                                Orlando,  Florida
                                                               December 29, 2005

     FOR  VALUE  RECEIVED,  TDS  DEVELOPMENT,  LLC,  a Florida limited liability
company  having  an  address at 2462 Sand Lake Road, Orlando, Florida 32809 (the
"Borrower"), promises to pay to the order of PCL CONSTRUCTION ENTERPRISES, INC.,
 --------
a  Colorado corporation ("Lender"), the principal sum of FOUR MILLION AND NO/100
($4,000,000.00)  DOLLARS.  Borrower  promises  to  pay interest on the principal
amount  hereof  outstanding  from  time  to time at the rate of 14.0% per annum;
provided  that  Borrower  promises  to  pay  interest at the Default Rate on the
principal amount hereof outstanding from and after the occurrence of an Event of
Default,  until the said principal amount shall be fully paid. Interest shall be
due and payable as hereinafter provided.

     1.  Definitions.  The following terms, as used in this Note, shall have the
         -----------
following  meanings,  which meanings shall be applicable equally to the singular
and the plural of the terms defined:

     "Business  Day"  shall  mean  any  day  other  than a Saturday, Sunday or a
      -------------
holiday on which most banks are closed in Orlando, Florida.

     "Default Rate" shall mean the lesser of 18.0% per annum or the highest rate
      ------------
of interest allowed by applicable law.

     "Event  of  Default"  shall  mean  the occurrence of any one or more of the
      ------------------
following  events or circumstances: (i) the failure of the Borrower to make when
due  any  payment  required  to be made under this Note; (ii) the failure of the
Borrower to perform or observe any condition or agreement contained in this Note
which  failure  continues  for  ten (10) days after Lender gives Borrower notice
thereof;  or  (iii) the occurrence of an "Event of Default" under and as defined
in the Security Agreement.

     "Key Bank" means Key Bank National Association.
      --------

     "Key  Bank  Loan"  means  that  certain  revolving construction loan in the
      ---------------
amount  of $40,000,000 to be made by Key Bank to the TDS Entities, as more fully
described  in  that certain Construction Loan Agreement of even date between the
TDS Entities and Key Bank.

     "Loan"  shall  mean that certain loan in the principal amount of $4,000,000
      ----
made  by  Lender to the Borrower which is evidenced by this Note and secured by,
among other things, the Security Agreement.

     "Maturity  Date"  shall mean the earliest of: (i) the Stated Maturity Date;
      --------------
(ii)  the date upon which Lender elects to accelerate the indebtedness evidenced
by  this  Note  by reason of the occurrence of an Event of Default; or (iii) the
date  on  which  the obligations of the TDS Entities under the Key Bank Loan are
satisfied in full.

<PAGE>

     "Note"  shall  mean  this Note and any amendments, modifications, renewals,
      ----
extensions and replacements of or substitutions for this Note.

     "TDS  Entities"  means Tierra Del Sol Resort (Phase 1) Ltd.; Costa Blanca I
      -------------
Real Estate LLC; TDS Town Homes (Phase 1), LLC; and TDS Amenities, Inc.

     "Security  Agreement" shall mean the Pledge and Security Agreement dated as
      -------------------
of even date herewith made by Tierra Del Sol Resort, Inc. as Pledgor in favor of
Lender  as  secured party, pursuant to which Pledgor grants to Lender a security
interest  in all of the outstanding equity interests in the Borrower as security
for  the  obligations  of  Borrower  and  the  Pledgor  to Lender, including the
obligations  of  Borrower  under  this  Note, and any amendments, modifications,
renewals,  extensions  and  replacements  of or substitutions for the Pledge and
Security Agreement.

     "Stated  Maturity  Date"  shall  mean the second anniversary of the date of
      ----------------------
this Note.

     2. Applicable Interest Rate.
        ------------------------

(A)     All agreements between Borrower and Lender are expressly limited so that
in  no  contingency  or  event  whatsoever,  whether by reason of advance of the
proceeds  hereof,  acceleration  of  maturity  of  the  unpaid principal balance
hereof,  or  otherwise, shall the amount paid or agreed to be paid to Lender for
the  use,  forbearance  or  detention  of  the  money  to  be advanced hereunder
(including  all  interest  on  this  Note and the aggregate of any other amounts
taken,  reserved or charged pursuant to this Note, the Security Agreement or any
other documents evidencing or securing this Loan, which under applicable law are
or may be deemed to constitute interest on the debt evidenced hereby) exceed the
maximum rate allowable by applicable law.  If, from any circumstance whatsoever,
fulfillment  of  any  provision  hereof  or  the Security Agreement, at the time
performance  of  such  provision shall be due, shall cause the effective rate of
interest  upon  the sums evidenced hereby to exceed the maximum rate of interest
prescribed  by applicable law at that time, then, the obligation to be fulfilled
shall  be  reduced  automatically  to  the  extent necessary to comply with such
applicable  law,  and, if from any circumstance Lender shall receive as interest
an  amount which would exceed the highest lawful rate allowable under applicable
law, such amount which would be excessive interest shall be refunded to Borrower
or,  at  Borrower'  option,  applied  to  the  reduction of the unpaid principal
balance  due  hereunder  and  not  to  the  payment  of  interest.

(B)     Interest shall be computed on the basis of a 360-day year for the actual
number  of days elapsed, but in no event at a rate greater than the highest rate
permitted  by  applicable  law.

     3. Payments.
        --------

(A)     The  Borrower  will  pay  interest  accrued on the outstanding principal
balance  of  this  Note  as  follows:

<PAGE>

               (i)  All  interest  accrued  from  the  date  of the Note through
          February  28,  2006  (the "Deferred Amount") will be deferred and paid
          ratably  over  the  remainder  of the term of this Note, as more fully
          described in this Section 3.

               (ii)  On  March 28, 2006, the Borrower will pay: (A) all interest
          accrued  from  the  February  28,  2006  to  March  28,  2006, and (B)
          one-twenty-second (1/22) of the Deferred Amount.

               (iii)  On  April  28, 2006 and on the 28th day of each succeeding
          month,  the  Borrower will pay: (i) all interest accrued from the 28th
          day  of  the  preceding month, and (B) one-twenty second (1/22) of the
          Deferred Amount.

          (B)  On  the  Maturity  Date,  the  Borrower  shall  pay  in  full the
     outstanding principal balance hereunder, together with all accrued interest
     under this Note (including any unpaid portion of the Deferred Amount).

          (C)  Prior  to  the Maturity Date, any payments to Lender of principal
     and interest in respect of this Note shall be applied first to interest and
     then  to principal; provided, however, that all payments received by Lender
                         -----------------
     after  the  Maturity  Date  shall be applied to principal, interest and all
     other  sums  payable  under  this  Note in such order and amounts as Lender
     shall determine in its sole discretion.

          (D)  All  payments  of  interest,  of  principal  and other sums owing
     hereunder  shall be payable in lawful money of the United States of America
     in  immediately  available  funds  at                        (or such other
                                          ------------------------
     place  as Lender or the holder of this Note may designate), without setoff,
     counterclaim or deduction of any kind.

     4.  Prepayment.  The Borrower shall have the right to prepay any portion of
         ----------
or the entire unpaid principal balance of this Note at any time and from time to
time without penalty, subject to the requirement that the Borrower first pays to
Lender all accrued and unpaid interest through the date of such prepayment.

     5.  Security/Default.  This  Note  is  secured  by, among other things, the
         ----------------
Security  Agreement  and  is  the  Note  referred  to in, is issued under and is
entitled to the benefits of the Security Agreement.

     6.  Applicable  Law.  This  Note  shall  be  governed  by  and construed in
         ---------------
accordance  with  the  law  of  the  State  of  Florida,  without  regard to any
conflict-of-laws  rule or principle that would give effect to the law of another
jurisdiction.

     7. Modifications. This Note may not be changed or terminated orally.
        -------------

     8. Waiver.
        ------

          (A)  The Borrower and any endorsers, sureties and guarantors hereof or
     hereon  hereby  waive  presentment  for payment, demand, protest, notice of
     non-payment  or  dishonor  and protest, and agree to remain bound until the
     principal  amount  hereof outstanding and interest and all other sums owing

<PAGE>

     hereunder  are  indefeasibly paid in full notwithstanding any extensions of
     time  for  payment which may be granted even though the period of extension
     be  indefinite,  and  notwithstanding any inaction by, or failure to assert
     any legal right available to Lender.

          (B)  It  is  further expressly agreed that any waiver by Lender, other
     than a waiver in writing signed by Lender, of any term or provision hereof,
     or of any right, remedy or power under this Note, shall not be controlling,
     nor  shall  it  prevent or stop Lender from thereafter enforcing such term,
     provision,  right, remedy or power, and the failure or refusal of Lender to
     insist  in  any one or more instances upon the strict performance of any of
     the  terms or provisions of this Note shall not be construed as a waiver or
     relinquishment  for  the future of any such term or provision, but the same
     shall  continue  in  full  force and effect, it being understood and agreed
     that  Lender's rights, remedies and powers under this Note are and shall be
     cumulative  and are in addition to all other rights, remedies and powers of
     Lender in law or in equity or under any other agreement.

     9.  Successors. The term "Lender" shall mean the original payee or any then
         ----------
holder(s)  of  this  Note  from  time  to  time and its and their successors and
assigns.

     10.  Costs  of  Collection.  The Borrower shall pay all reasonable costs of
          ---------------------
collection  when  incurred,  including,  without  limitation,  the  reasonable
attorneys'  fees,  at  both  trial  and  appellate  levels, and disbursements of
Lender's  counsel  and  other  professionals employed by Lender and court costs,
which  costs may be added to the indebtedness evidenced hereby and shall be paid
on  demand,  and  after  demand until paid, with interest thereon at the Default
Rate, to the extent permitted by applicable law.

     11. Miscellaneous.
         -------------

          (A)  BORROWER  AND  (BY  ACCEPTANCE  HEREOF)  LENDER HEREBY KNOWINGLY,
     VOLUNTARILY  AND  INTENTIONALLY WAIVE THE RIGHT TO TRIAL BY JURY IN RESPECT
     OF  ANY  LITIGATION  ARISING OUT OF, UNDER OR IN CONNECTION WITH THIS NOTE,
     THE  SECURITY  AGREEMENT  OR  ANY  COURSE  OF  CONDUCT,  COURSE OF DEALING,
     STATEMENTS  (WHETHER  VERBAL  OR WRITTEN) OR ACTION OF BORROWERS OR LENDER.
     THIS  PROVISION IS A MATERIAL INDUCEMENT FOR BANK TO AGREE TO MAKE THE LOAN
     EVIDENCED BY THIS NOTE.

          (B)  In  the  event that any provision of this Note or the application
     thereof  to  the Borrower or any circumstance in any jurisdiction governing
     this  Note  shall,  to  any  extent,  be invalid or unenforceable under any
     applicable statute, regulation or rule of law, then such provision shall be
     deemed  inoperative  to the extent that it may conflict therewith and shall
     be  deemed  modified to conform to such statute, regulation or rule of law,
     and  the  remainder of this Note and the application of any such invalid or
     unenforceable  provision  to  parties, jurisdictions or circumstances other
     than  to  whom or to which it is held invalid or unenforceable shall not be
     affected  thereby  nor  shall same affect the validity or enforceability of
     any other provision of this Note.

<PAGE>

          (C)  Time  is  of  the essence as to all dates set forth in this Note,
     subject to any applicable notice or grace period provided herein; provided,
                                                                       --------
     however,  whenever  any  payment to be made hereunder shall be stated to be
     -------
     due  on  a  day  other than a Business Day, such payment may be made on the
     next succeeding Business Day, and such extension of time shall in such case
     be  included in the computation of payment of interest or fees, as the case
     may be.

          (D)  The Borrower hereby agrees to perform and comply with each of the
     terms,  covenants  and  provisions  contained  in  this  Note  and  in  any
     instrument  evidencing  or securing the indebtedness evidenced by this Note
     on  the  part of the Borrower to be observed and/or performed hereunder and
     thereunder. No release of any security for the sums due under this Note, or
     of  any  portion  thereof,  and  no  alteration, amendment or waiver of any
     provision  of  this  Note or of any instrument or other document evidencing
     and/or  securing  any indebtedness evidenced by this Note made by agreement
     between  Lender  and  any  other  person or party shall release, discharge,
     modify,  change  or affect the liability of the Borrower under this Note or
     under such instrument or other document.

          (E)  No  act of commission or omission of any kind or at any time upon
     the  part  of  Lender  in respect of any matter whatsoever shall in any way
     impair  the  rights  of Lender to enforce any right, power or benefit under
     this  Note  and  no  set-off,  counterclaim, reduction or diminution of any
     obligation  or  any defense of any kind or nature which the Borrower has or
     may have against Lender shall be available hereunder to the Borrower.

          (F)  The  captions  proceeding  the  text  of  the  various paragraphs
     contained  in  this Note are provided for convenience only and shall not be
     deemed  in any way to affect or limit the meaning or construction of any of
     the provisions hereof.

          (G) The Borrower hereby irrevocably:

               (I)  submits,  in  any legal proceeding relating to this Note, to
          the  non-exclusive  in  personam  jurisdiction  of any state or United
          States court of competent jurisdiction sitting in the State of Florida
          and agrees to suit being brought in any such court;

               (II) waives any objection that Borrower may now or hereafter have
          to  the  venue  of such proceeding in any such court located in Orange
          County, Florida or that such proceeding was brought in an inconvenient
          court;

               (III)  agrees  to service of process in any such legal proceeding
          by  mailing  of  copies  thereof  (by registered or certified mail, if
          practicable)  postage  prepaid,  or  by  telecopier,  to the Borrower'
          address  specified  in the Security Agreement or such other address of
          which Lender shall have been notified in writing;

               (IV)  agrees that nothing herein shall affect the right of Lender
          to effect service of process in any other manner permitted by law; and

               (V)  agrees  that  Lender shall have the right to bring any legal
          proceedings  (including  a  proceeding  for  enforcement of a judgment
          entered  by  any of the aforementioned courts) against the Borrower in
          any other court or jurisdiction in accordance with applicable law.

<PAGE>

          (H)  All  notices  and  other  communications to Borrower provided for
     under  this  Note  shall  be  in  writing  and  mailed,  telefaxed  or
     hand-delivered,  to Borrower's address specified in the Security Agreement.
     All  such  notices  and  other  communications  shall,  when  telefaxed  or
     hand-delivered,  be  effective when received and, when mailed, be effective
     three (3) Business Days after being deposited in the mail.

          (I)  No  failure  on  the  part of Lender to exercise, and no delay in
     exercising,  any  right  hereunder  shall  operate as a waiver thereof; nor
     shall  any  single  or partial exercise of any right hereunder preclude any
     other  or  future  exercise thereof or the exercise of any other right. The
     remedies  herein  provided are cumulative and non-exclusive of any remedies
     provided by law.

     IN  WITNESS WHEREOF, this Note has been duly executed by the Borrower as of
the day and year first above written.

                                            TDS  DEVELOPMENT,  LLC

                                            By:/s/Malcolm J. Wright
                                               ---------------------------
                                               Malcolm J. Wright,  Manager

<PAGE>Exhibit 10.10

                               GUARANTY AGREEMENT
                               ------------------

                          Dated as of December 28, 2005

     THIS  GUARANTY  AGREEMENT  ("this  Guaranty")  is  made by AMERICAN LEISURE
HOLDINGS,  INC.,  a  Nevada corporation, with an address at 2462 Sand Lake Road,
Orlando,  Florida  32809  (the  "Guarantor"),  in  favor  of  PCL  CONSTRUCTION
ENTERPRISES, INC., a Colorado corporation (the "Lender").

                                    RECITALS
                                    --------

     A.  The  Lender  has  agreed  to  make  a  loan  in the principal amount of
$4,000,000.00  (the "Loan") to TDS Development, LLC, a Florida limited liability
company  (the  "Borrower"),  pursuant  to, and as evidenced by a Promissory Note
from  Borrower  in  favor of Lender, dated of even date herewith in the original
principal  amount  of $4,000,000.00 (together with any renewals or modifications
thereof and substitutions therefore, the "Note").

     B.  The  obligations  of  the Borrower under the Note are secured by, among
other things, a Pledge and Security Agreement dated of even date herewith by and
between  the Guarantor and the Lender (as amended or restated from time to time,
together  with any renewals or modifications thereof or substitutions therefore,
the  "Security  Agreement").  The Note and the Security Agreement, together with
all  the documents, instruments and agreements evidencing, securing or otherwise
relating to the Loan, as such other documents, instruments and agreements may be
amended,  modified,  restated,  renewed or substituted for from time to time are
referred to herein and collectively as the "Loan Documents").

     C.  The  Guarantor is part of an operating group of companies that includes
the Borrower and the Guarantor's business interests are closely intertwined with
those  of  Borrower.  Accordingly, the Guarantor will benefit substantially from
the Lender's credit extension to the Borrower.

     D.  The  Lender's  agreement to make the Loan to the Borrower is contingent
upon the Guarantor's execution and delivery of this Guaranty.

                                   AGREEMENTS
                                   ----------

     NOW,  THEREFORE,  in  consideration  of  the  premises  and  other good and
valuable  consideration  (the  receipt  and  adequacy  of  which  are  hereby
acknowledged)  and in order to induce the Lender to make the Loan, the Guarantor
agrees as follows:

     Section  1.  Guaranty.  The  Guarantor  hereby  irrevocably, absolutely and
                  --------
unconditionally guarantees to Lender: (i) the punctual payment when due, whether
at  stated  maturity,  by  acceleration  or otherwise, of all obligations of the
Borrower  to  the Lender now or hereafter existing or arising under or evidenced
by the Note and all other Loan Documents, whether for principal, interest, fees,
commissions,  indemnities, expenses or otherwise, all at the times and place and
at  the  rate  described  in  the  Note  and other Loan Documents, and otherwise
according  to  the  terms  of the Note and the other Loan Documents and (ii) the
prompt,  punctual and faithful performance when due, whether by reason of stated

<PAGE>

maturity,  acceleration  or  otherwise, of all other obligations of the Borrower
and any other party to Lender now or hereafter outstanding under the Note or the
other  Loan  Documents  (such  obligations  and  liabilities referred to in this
Section  1 being "the Obligations" or "Obligations"). In addition, the Guarantor
agrees  to  pay  any  and  all  expenses (including counsel fees and expenses at
whatever  level)  incurred  by  the  Lender  in  enforcing any rights under this
Guaranty.

     Section 2. Guaranty Absolute. The Guarantor guarantees that the Obligations
                -----------------
will be paid and performed strictly in accordance with the terms of the Note and
other Loan Documents regardless of any law, regulation or order now or hereafter
in  effect  in any jurisdiction affecting any of such terms or the rights of the
Lender  with respect thereto. The liability of the Guarantor under this Guaranty
shall be absolute and unconditional irrespective of:

          (a)  any  lack of validity or enforceability of any payment provisions
     of the Note and any of the other Loan Documents;

          (b)  any  change in the time, manner or place of payment of, or in any
     other  term  of,  all  or any of the Obligations, or any other amendment or
     waiver of or any consent to departure from any of the Loan Documents;

          (c)  any  exchange, release or nonperfection of any collateral for any
     of  the  Obligations,  any  limitation  as to the amount of the Obligations
     secured by any of the Loan Documents, any invalidity of, release, amendment
     or  waiver  of  or consent to departure from, any other guaranty for all or
     any  of  the Obligations or any failure to obtain any guaranty contemplated
     by the Loan Documents or any related commitment letter;

          (d)  the  voluntary  or  involuntary  bankruptcy  of  Borrower, or any
     assignment  for  the  benefit  of  creditors, reorganization, receivership,
     liquidation  or  other similar proceedings affecting the Borrower or any of
     its assets;

          (e)  any  present  or  future  action  of  any  governmental authority
     amending, varying, reducing or otherwise affecting, or purporting to amend,
     vary,  reduce  or otherwise affect, any of the Obligations, any of the Loan
     Documents or this Guaranty;

          (f) any other event or circumstance which might otherwise constitute a
     defense available to, or a discharge of, the Borrower or a guarantor.

Nothing  herein to the contrary withstanding, this Guaranty shall continue to be
effective  or  be  reinstated, as the case may be, if at any time any payment of
any  of the Obligations is rescinded or must otherwise be returned by the Lender
upon the insolvency, bankruptcy or reorganization of the Borrower otherwise, all
as  though  such  payments  had  not  been  made.

     Section 3. Waiver. The Guarantor hereby unconditionally waives:
                ------

<PAGE>

          (a)  promptness, diligence, notice of acceptance and all other notices
     with respect to any of the Obligations, this Guaranty or any disposition of
     collateral;

          (b) any requirement that the Lender protect, secure, perfect or insure
     any  security  interest  or lien on any property subject thereto or exhaust
     any  right  or  take any action against the Borrower or any other person or
     entity or any collateral;

          (c)  any  defense  based  on  any  event or circumstances described in
     Sec.2; and

          (d)  any duty of the Lender to advise the Guarantor of any information
     known  to  the  Lender regarding the financial condition of the Borrower or
     any  other  circumstance  affecting  the  Borrower's ability to perform its
     obligations  to  the  Lender,  it  being  agreed that the Guarantor assumes
     responsibility  for  being and keeping informed regarding such condition or
     any such circumstance.

     Section  4.  Subrogation. The Guarantor shall not exercise any rights which
                  -----------
it  may  acquire  by way of subrogation under this Guaranty, by any payment made
hereunder  or otherwise, until all the Obligations shall have been paid in full.
If  any  amount  shall  be  paid to the Guarantor on account of such subrogation
rights  at  any  time when all the Obligations shall not have been paid in full,
such  amount  shall  be  held  in  trust for the benefit of the Lender and shall
forthwith be paid to the Lender to be credited and applied upon the Obligations,
whether matured or unmatured, in accordance with the terms of the Note.

     Section  5. Representations and Warranties. The Guarantor hereby represents
                 ------------------------------
and warrants as follows:

          (a)  The  execution, delivery and performance by the Guarantor of this
     Guaranty do not contravene law or any contractual restriction binding on or
     affecting the Guarantor.

          (b)  No authorization or approval or other action by, and no notice to
     or  filing  with,  any  person  or any governmental authority or regulatory
     body,  is  required  for the due execution, delivery and performance by the
     Guarantor of this Guaranty.

          (c)  The  Guarantor has received adequate consideration and equivalent
     value  for executing and delivering this Guaranty, and this Guaranty is the
     legal, valid and binding obligation of the Guarantor enforceable against it
     in accordance with its terms.

          (d)  The  Guarantor  is  a  corporation  validly  existing and in good
     standing  under the laws of the jurisdiction in which it was organized, and
     the Guarantor's execution, delivery and performance of this Guaranty do not
     contravene  or  conflict  with its charter, by-laws or other organizational
     documents.

<PAGE>

          (e)  There  is no pending or threatened action or proceeding affecting
     the  Guarantor  before  any court, governmental agency or arbitrator, which
     may materially adversely affect the Guarantor's financial condition.

     Section 6. Amendments, Etc. No amendment or waiver of any provision of this
                ---------------
Guaranty  nor  consent  to any departure by the Guarantor therefrom shall in any
event  be effective unless the same shall be in writing and signed by the Lender
and  the  Guarantor,  and then such waiver or consent shall be effective only in
the specific instance and for the specific purpose for which given.

     Section  7.  Notices.  All  notices, requests, approvals, consents or other
                  -------
communications  provided for under this Agreement shall be in writing and mailed
or hand-delivered to the applicable party at the addresses indicated below:

If  to  the  Lender:
                              ---------------------

                              ---------------------

                              ---------------------

If  to  the  Guarantor:       the  address  set  forth  at  the
                              head  of  this  Guaranty  (or,  if  no  address
                              is  set  forth  there,  the  address  of  the
                              Guarantor  in  the  Lender's  records)

All such communication shall, when hand-delivered, be in effective when received
and,  when mailed, be effective three (3) business days after being deposited in
the mails, addressed as aforesaid except that mailed notices to Lender shall not
be  effective  unless  and  until  received  by  Lender.

     Section  8.  No  Waiver;  Remedies. No failure on the part of the Lender to
                  ----------
exercise,  and  no  delay  in exercising, any right hereunder shall operate as a
waiver  thereof; nor shall any single or partial exercise of any right hereunder
preclude  any  other  or  further  exercise thereof or the exercise of any other
right.  The  remedies  herein  provided  are cumulative and not exclusive of any
remedies provided by law.

     Section  9. Continuing Guaranty. This Guaranty is a continuing guaranty and
                 -------------------
shall  (i)  remain  in  full  force  and  effect  until  payment  in full of the
Obligations  and  all other amounts payable under this Guaranty and satisfaction
of  the Note; (ii) be binding upon the Guarantor and its successors and assigns,
and  (iii)  inure  to  the  benefit  of and be enforceable by the Lender and its
successors,  transferees  and  assigns.  Without  limiting the generality of the
foregoing  clause (iii), the Lender may assign or otherwise transfer the Note to
any  other  person  or  entity,  and such other person or entity shall thereupon
become  vested  with  all  the  rights  in respect thereof granted to the Lender
herein or otherwise.

<PAGE>

     Section 10. Default. Upon the occurrence of an Event of Default (as defined
                 -------
in the Note), all the Guarantor's obligations hereunder shall immediately be due
and payable in full without notice.

     Section 11. Governing Law. THIS GUARANTY SHALL BE GOVERNED BY AND CONSTRUED
                 -------------
IN  ACCORDANCE  WITH  THE  LAW  OF  THE  STATE OF FLORIDA, WITHOUT REGARD TO ANY
CONFLICT-OF-LAW  RULE  OR PRINCIPLE THAT WOULD GIVE EFFECT TO THE LAW OF ANOTHER
JURISDICTION.

     Section  12.  Terminology.  As used herein, "hereof," "hereunder," "hereby"
                   -----------
and  "herein"  refer to this Guaranty as a whole and not merely the paragraph in
which  they  appear.  As used herein, masculine pronouns shall be read as neuter
pronouns if and as appropriate.

     Section  13.  Severability. If any provision of this Guaranty shall be held
                   ------------
invalid  under  any  applicable  law, such invalidity shall not affect any other
provision  of  this  Guaranty  that  can  be  given  effect  without the invalid
provision, and, to that end, the provision hereof are severable.

     Section  14.  Submission  to Jurisdiction. The Guarantor hereby irrevocably
                   ---------------------------
(a)  submits,  in  any  legal  proceeding  relating  to  this  Guaranty,  to the
non-exclusive  in  personam  jurisdiction of any state or United States court of
               ------------
competent  jurisdiction sitting in the State of Florida and agrees to suit being
brought in any such court; (b) waives any objection that it may now or hereafter
have to the venue of such proceeding in any such court located in Orange County,
Florida,  or  that  such  proceeding  was  brought in an inconvenient court; (c)
agrees  to  service of process in any such legal proceeding by mailing of copies
thereof  (by  registered  or certified mail, if practicable) postage prepaid, to
the  Guarantor's  address  specified  at the head of this Guaranty or such other
address of which the Lender shall have been notified in writing; (d) agrees that
nothing herein shall affect the right of the Lender to effect service of process
in  any other manner permitted by law; and (e) agrees that the Lender shall have
the right to bring any legal proceedings (including a proceeding for enforcement
of a judgment entered by any of the aforementioned courts) against the Guarantor
in any other court or jurisdiction in accordance with applicable law.

     Section  15. Waiver of Jury Trial. GUARANTOR AND (BY ACCEPTANCE HEREOF) THE
                  --------------------
LENDER HEREBY KNOWINGLY, VOLUNTARILY AND INTENTIONALLY WAIVE ANY RIGHT EITHER OF
THEM  MAY  HAVE  TO  A TRIAL BY JURY IN RESPECT OF ANY LITIGATION (INCLUDING ANY
COUNTERCLAIM)  BASED HEREON, OR ARISING OUT OF, UNDER OR IN CONNECTION WITH THIS
GUARANTY  OR ANY OTHER LOAN DOCUMENT, THE LOAN, OR ANY COURSE OF CONDUCT, COURSE
OF  DEALING,  STATEMENTS (WHETHER VERBAL OR WRITTEN) OR ACTIONS OF THE LENDER OR
THE  GUARANTOR.  THIS  PROVISION IS A MATERIAL INDUCEMENT FOR LENDER TO MAKE THE
LOAN.

<PAGE>

     Section  16.  Joint and Severally Liability. Guarantor shall be jointly and
                   -----------------------------
severally  liable  to  Lender  with any and all other guarantors which execute a
guaranty  at  any  time in favor of Lender with respect to the Note or any other
Loan Document.

     IN  WITNESS  WHEREOF,  the  Guarantor  has duly executed and delivered this
Guaranty as of the date first above written.

                                    AMERICAN  LEISURE  HOLDINGS,  INC.,  a
                                    Nevada  corporation

                                    By:/s/Malcolm J. Wright
                                       -----------------------------------
                                       Malcolm  J.  Wright,  President

<PAGE>

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