Document:

Exhibit 4.2

                                                          Warrant Number 2004-1

         NEITHER  THIS  WARRANT  NOR THE SHARES OF COMMON  STOCK  ISSUABLE  UPON
EXERCISE OF THIS WARRANT HAVE BEEN REGISTERED UNDER EITHER THE SECURITIES ACT OF
1933, AS AMENDED, OR UNDER ANY STATE SECURITIES LAWS, AND THIS WARRANT CANNOT BE
EXERCISED,  SOLD OR  TRANSFERRED,  AND THE SHARES OF COMMON STOCK  ISSUABLE UPON
EXERCISE OF THIS WARRANT  CANNOT BE SOLD OR  TRANSFERRED,  UNLESS AND UNTIL THEY
ARE SO REGISTERED OR UNLESS AN EXEMPTION IS THEN AVAILABLE.

                  Warrant to Subscribe for 500,000 Shares of Common Stock

                             AGU ENTERTAINMENT CORP.

                                     WARRANT

                          To Subscribe for and Purchase
                                 Common Stock of
                             AGU ENTERTAINMENT CORP.

         THIS CERTIFIES that, for value received, Galt Financial Corporation, 17
Larkspur  Lane,  Newtown,  PA 18940 or its  registered  assigns  ("Holder"),  is
entitled to subscribe for and purchase from AGU ENTERTAINMENT  CORP., a Colorado
corporation ("Company"),  at an exercise price per share of $1.00 (initially and
as adjusted,  if at all,  pursuant to the terms and  conditions of this Warrant,
the "Exercise Price"),  500,000 fully paid and nonassessable shares of Company's
common stock, no par value per share (the "Common  Stock").  This Warrant may be
exercised,  in whole or in part,  by Holder at any time  commencing  immediately
after  delivery of this Warrant to Holder and prior to and  including  5:00 p.m.
Eastern time on the fifth anniversary of the date hereof.

         This  Warrant  is  subject  to  the  following  provisions,  terms  and
conditions:

         1.  Exercise;  Payment.  The rights  represented by this Warrant may be
exercised by Holder,  in whole or in part,  by the  surrender of this Warrant at
the principal office of Company properly  endorsed and accompanied by payment to
Company of the  Exercise  Price for that number of shares of Common Stock sought
to be purchased (the "Exercised Shares"),  in the manner provided below. Company
agrees that (a) shares  purchased upon exercise of this Warrant shall be and are
deemed to be issued to Holder as the record owner of such shares as of the close
of business on the date on which this Warrant  shall have been  surrendered  and

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payment made for such shares as provided  herein,  and (b)  certificates for the
shares  of stock so  purchased  shall be  delivered  to Holder  as  promptly  as
reasonably  practicable  following any exercise of this Warrant, and unless this
Warrant shall have been exercised in full, or shall have expired,  a new Warrant
representing  the number of shares with respect to which this Warrant  shall not
yet have been exercised, shall also be delivered to Holder.

         Holder may pay the Exercise Price for any Exercised  shares in one or a
combination by delivering cash, check,  money order or wire transfer of funds to
the Company in the amount of the Exercise Price of the Exercised  Shares. In the
event there is a trading market for the Company's common shares,  Holder may, at
its option, pay the Exercise Price with registered or unregistered shares of the
Company's common stock, which shall be valued in each instance at the average of
the  closing  price for said  shares as traded on a  recognized  public  trading
market  or  quoted  on a  recognized  quotation  system  for  the  last  20 days
immediately preceding the date of exercise.

         2. Shares to be Fully Paid;  Reservation.  Company covenants and agrees
that all shares which may be issued upon the exercise of the rights  represented
by this Warrant  will,  upon issuance and payment  therefor in  accordance  with
Section 1 above, be fully paid and nonassessable and free from all taxes,  liens
and  charges  with  respect  to the issue  thereof;  and  without  limiting  the
generality of the foregoing, Company covenants and agrees that it will from time
to time take all such action as may be required to assure that the par value per
share  of the  Common  Stock  is at all  times  equal  to or less  than the then
effective  Exercise  Price per share of Common Stock  issuable  pursuant to this
Warrant.  Company further covenants and agrees that when the rights  represented
by this  Warrant may be  exercised,  Company will at all times  thereafter  have
authorized,  and reserved for the purpose of issue or transfer  upon exercise of
the subscription rights evidenced by this Warrant, a sufficient number of shares
of its Common  Stock to provide for the  exercise of the rights  represented  by
this Warrant.

         3.  Protection Against Dilution.

             (a) In the event at any time or from time to time,  all  holders of
Common  Stock (or any other  shares  of stock or other  securities  at that time
receivable  upon  exercise  of this  Warrant)  shall  have  received,  other  or
additional  or less Common Stock without  payment  therefor  (whether  through a
dividend in stock or any class of stock of Company or any other corporation,  or
through stock split, spinoff, split-off, reclassification, combination of shares
or otherwise) (a  "Distribution"),  then, and in each such case, Holder upon the
exercise of this Warrant and payment of the Exercise Price provided above, shall
be entitled to receive, in addition to the shares called for under this Warrant,
the shares or other  securities  to which Holder would have been entitled in the
Distribution if Holder had exercised this Warrant  immediately prior thereto. In
case of the  partial  exercise of this  Warrant  under such  circumstances,  the
number of shares of stock or other  securities  which would have been receivable
upon the full exercise of this Warrant,  and the Exercise Price payable therefor
computed as provided above, shall be proportionately reduced.

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             (b) In  case  of  any  reorganization  of  Company,  or  any  other
corporation the stock or securities of which are at the time  deliverable on the
exercise of this  Warrant,  or in case Company or such other  corporation  shall
consolidate  with  or  merge  into  another   corporation,   or  convey  all  or
substantially all of its assets to another  corporation,  or liquidate,  Holder,
upon the  exercise  hereof and upon the payment of the Exercise  Price  provided
above, shall be entitled to receive, in lieu of the shares called for under this
Warrant,  the stock or other securities to which Holder would have been entitled
upon the consummation of such reorganization, consolidation, merger, conveyance,
or liquidation if Holder had purchased the shares called for hereby  immediately
prior  thereto;  and in such  case,  the  provisions  of this  Warrant  shall be
applicable  to the shares of stock or other  securities  thereafter  deliverable
upon the exercise of this Warrant.  In the case of the partial  exercise of this
Warrant  under  such  circumstances,  the  number  of  shares  of stock or other
securities  which  would have been  receivable  upon the full  exercise  of this
Warrant,  and the Exercise  Price  payable  therefor,  shall be  proportionately
reduced.

         4. No Rights as Shareholder.  Until the valid exercise of this Warrant,
the holder hereof shall not be entitled to any voting right or other rights as a
shareholder of Company with respect to this Warrant.

         5. Transfer of Warrants.  Subject to Section 7 hereof, this Warrant and
all rights hereunder are  transferable,  in whole or in part,  without charge to
the Holder,  at the office or agency of Company  referred to in Section 1 by the
Holder in person or by duly authorized attorney,  upon surrender of this Warrant
properly endorsed.  Each taker and holder of this Warrant,  by taking or holding
the same,  consents and agrees that this Warrant,  when endorsed in blank, shall
be deemed negotiable,  and that the holder hereof,  when this Warrant shall have
been so endorsed,  may be treated by Company and all other persons  dealing with
this  Warrant as the  absolute  owner  hereof for any  purpose and as the person
entitled to exercise the rights represented by this Warrant,  or to the transfer
hereof on the books of Company, any notice to the contrary notwithstanding;  but
until such  transfer on such  books,  Company  may treat the  registered  holder
hereof as the owner for all purposes.

         6.  Fractional  Interests.  Company  shall  not be  required  to  issue
fractional  shares of Common  Stock upon the  exercise of this  Warrant.  If any
fraction of a share of Common Stock  would,  except for the  provisions  of this
Section 6, be issuable upon the exercise of this Warrant (or  specified  portion
thereof), Company shall pay an amount in cash equal to the Fair Market Value (as
defined  below) of such  fraction of a Common Share on the business day prior to
the date of such exercise. As used in this Agreement, the "Fair Market Value" of
the Common  Stock shall be the closing  price of the Common Stock on the date of
determination  on the  principal  stock market or quotation  system on which the
Common Stock is then traded;  provided,  however, if the Common Stock is not, as
of the date of  determination  of the Fair Market Value,  traded on a recognized
public trading market or quoted on a recognized  quotation system, then the Fair
Market Value shall be determined by Company on the basis of such valuation as it
considers appropriate.

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         7.  Compliance  With  Securities  Laws. By acquiring  this Warrant from
Company on the date hereof, the Holder hereby agrees,  acknowledges,  covenants,
represents and warrants as follows:

             (a) This  Warrant  and the  shares of Common  Stock  issuable  upon
exercise  hereof have not been  registered  under the Securities Act of 1933, as
amended (the  "Securities  Act"),  or qualified  or  registered  under any state
securities laws which may be applicable.  Holder  understands  that this Warrant
and such shares of Common Stock have been and will be issued and sold  hereunder
in transactions  exempt from the registration or  qualification  requirements of
the Securities Act and applicable state securities laws and Holder  acknowledges
that reliance on and the  availability  of said exemptions is predicated in part
on the accuracy of Holder's representations and warranties herein.

             (b)  Holder  represents  and  warrants  that it is  acquiring  this
Warrant for its own account, for purposes of investment, and not with a view to,
or for sale in connection with, any  distribution  thereof within the meaning of
the Securities Act and the rules and regulations promulgated thereunder.  Holder
represents,  warrants  and agrees that it will not sell,  exercise,  transfer or
otherwise dispose of this Warrant (or any interest therein) or any of the Common
Stock  purchasable  upon exercise  hereof,  except  pursuant to (i) an effective
registration  statement under the Securities Act and applicable state securities
laws or (ii) an opinion of counsel,  satisfactory to Company,  that an exemption
from  registration  under the Securities Act and such laws is available.  Holder
further  acknowledges  and  agrees  that  Company  is not  required,  legally or
contractually,  so to register or qualify the Warrant or such Common Stock or to
take any action to make such an exemption  available.  Holder  understands  that
Company will be relying upon the truth and accuracy of the  representations  and
warranties  contained  in this Section 7 in issuing this Warrant and such Common
Stock without first registering the issuance thereof under the Securities Act or
qualifying or registering the issuance  thereof under any state  securities laws
that may be applicable.

             (c) Holder  acknowledges  that (i) there is not now, and there will
not be in the future,  any public market for the Warrant,  (ii)  although  there
currently  is a public  trading  market  for the Common  Stock,  there can be no
assurance  that any such  market  will be  sustained,  and (iii) there can be no
assurance  that  Holder will be able to  liquidate  its  investment  in Company.
Holder  represents  and warrants  that it is familiar with and  understands  the
terms and conditions of Rule 144 promulgated under the Securities Act.

             (d) Holder  represents and warrants to Company that (i) it has such
knowledge and  experience  in financial and business  matters as is necessary to
enable it to evaluate the merits and risks of any  investments in Company and is
not  utilizing any other person to be a purchaser  representative  in connection
with evaluation of such merits and risks;  and (ii) it has no need for liquidity
in an investment in Company and is able to bear the risk of that  investment for
an indefinite period and to afford a complete loss thereof.

             (e) Holder  represents  and warrants that it has had access to, and
has been furnished  with,  all of the  information it has requested from Company
and has had an  opportunity  to review the books and  records of Company  and to
discuss  with  management  and members of the board of  directors of Company the
business and financial affairs of Company.

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             (f)  Holder  agrees  that  at the  time of  each  exercise  of this
Warrant,  unless the  issuance of shares of Common Stock  issuable  thereupon is
pursuant to an effective registration statement under the Securities Act, Holder
will provide Company with a letter embodying the  representations and warranties
set forth in subsections (b) through (e), in form and substance  satisfactory to
Company, and agrees that the certificate(s) representing any shares issued to it
upon any  exercise of this Warrant may bear such  restrictive  legend as Company
may deem  necessary  to reflect the  restricted  status of such shares under the
Securities  Act unless  Company  shall have  received  from Holder an opinion of
counsel to Holder,  reasonably  satisfactory  in form and  substance to Company,
that such restrictive  legend is not required.  If such legend is placed on such
certificate(s), before consenting to the removal of such legend and the transfer
of such shares,  unless the request to remove such legend is made in  connection
with a sale or  transfer  of the shares  represented  by such  certificate  in a
transaction registered under Section 5 of the Securities Act, Company may insist
upon the  delivery  to it of an  opinion  from  counsel  to  Holder,  reasonably
satisfactory in form and substance to Company,  that the  contemplated  transfer
does not constitute a violation of the Securities Act.

         8.  Notice. Company  covenants  and agrees to give notice in writing to
Holder  at least 10 days  prior to (or,  if  later,  then as soon as  reasonably
practicable prior to) any action  contemplated  which would affect the per share
Exercise Price, or number of shares  purchasable  upon exercise of this Warrant;
provided,  however,  any  failure of Company to provide  such  notice  shall not
affect the  validity  of any action by  Company.  Any  notice,  request or other
communication  provided  for  under  this  Warrant  shall be  given in  writing,
delivered by hand, by overnight  United States Mail,  return receipt  requested,
postage  prepaid,  or  through a  reputable  courier  service  (such as  Federal
Express) and shall be addressed to Company or to the Holder at the address shown
below, unless notice of a change in address is furnished in accordance with this
paragraph:

                  If to Company:

                           AGU Entertainment Corp.
                           11077 Biscayne Blvd, Suite 101
                           Miami, FL  33161
                           Attn:  David Levy, President

                  If to Holder:

                           Galt Financial Corporation
                           17 Larkspur Lane
                           Newtown, PA 18940

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         9. Descriptive  Headings and Governing Law. The descriptive headings of
the several  paragraphs of this Warrant are inserted for convenience only and do
not  constitute a part of this Warrant.  This Warrant is being  delivered and is
intended  to be  performed  in the State of Florida and shall be  construed  and
enforced in accordance with, and the rights of the parties shall be governed by,
the  law  of  such  state.  In  the  event  of  controversy  arising  out of the
interpretation  construction,  performance  or  breach  of this  Agreement,  the
parties hereby agree and consent to the  jurisdiction  and venue of the District
or County Court of Dade County, Florida; or the United States District Court for
the Southern  District of Florida,  and further  agree and consent that personal
service  or  process in any such  action or  proceeding  outside of the State of
Florida and Dade County  shall be  tantamount  to service in person  within Dade
County,  Florida and shall confer personal jurisdiction and venue upon either of
said Courts.

         IN WITNESS WHEREOF,  AGU Entertainment  Corp has caused this Warrant to
be signed by its duly  authorized  officers under its corporate  seal, this 15th
day of September, 2004.

                                                    AGU Entertainment Corp.

                                                    By:  /s/ David C. Levy
                                                      --------------------------
                                                      David C. Levy, President

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                              ELECTION TO PURCHASE

         The undersigned Holder hereby irrevocably elects to exercise the within
Warrant to purchase (___________)* Shares of Common Stock issuable upon exercise
thereof  to and  requests  that  certificates  for  such  Shares  be  issued  in
his/her/its    name   and    delivered   to    him/her/it   at   the   following
address:________________
___________________________________________________________
___________________________________________________________.

Date:_________________

___________________________________________________________
                        Signature(s)**

----------
* If the Warrant is to be exercised or transferred  in its entirety,  insert the
word  "All"  before  "Shares";  otherwise  insert  the  number  of  shares  then
purchasable on the exercise  thereof as to which  transferred  or exercised.  If
such  Warrants  shall not be  transferred  or  exercised  to purchase all shares
purchasable upon exercise thereof, that a new Warrant to purchase the balance of
such  shares be issued  in the name of,  and  delivered  to,  the  Holder at the
address stated below.

**  Signature(s)  must conform exactly to the name(s) of the Holder as set forth
on the first page of this Warrant.

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                                   ASSIGNMENT

         FOR VALUE RECEIVED, the undersigned hereby sells, assigns and transfers
the within Warrant to the extent of (________)* Shares purchasable upon exercise
thereof     to      ____________________________,      whose      address     is
_________________________________________________    and   hereby    irrevocably
constitute  and appoint  ____________________  his/her/its  Attorney to transfer
said Warrant on the book of the Company, with full power of substitution.

Date:_______________________

__________________________________________________________
                       Signature(s)**

----------
* If the Warrant is to be exercised or transferred  in its entirety,  insert the
word  "All"  before  "Shares";  otherwise  insert  the  number  of  shares  then
purchasable on the exercise  thereof as to which  transferred  or exercised.  If
such  Warrants  shall not be  transferred  or  exercised  to purchase all shares
purchasable upon exercise thereof, that a new Warrant to purchase the balance of
such  shares be issued  in the name of,  and  delivered  to,  the  Holder at the
address stated below.

**  Signature(s)  must conform exactly to the name(s) of the Holder as set forth
on the first page of this Warrant.

                                       8Exhibit 10.1

                         AGREEMENT FOR PURCHASE AND SALE

         This Agreement for Purchase and Sale is made and entered into effective
as of September 10, 2004 (the  "EFFECTIVE  DATE") by and between CHARLEY ZECHES,
in her capacity as Trustee of LAKES  HOLDING  TRUST U/A dated July 27, 2001 (the
"SELLER") and AGU ENTERTAINMENT CORP., a Colorado corporation ("BUYER").

                                R E C I T A L S:

         A.  Seller is the owner of fee simple  title in and to an approximately
22 acre parcel of real  property  located at 3200 West Oakland  Park  Boulevard,
Lauderdale Lakes, in Broward County,  Florida, as more particularly described on
Exhibit "A" annexed hereto and made a part hereof (the "LAND"); and

         B.  Buyer wishes to purchase and Seller  desires to sell to Buyer,  the
Real Property (as defined  below) in  accordance  with and subject to the terms,
conditions and provisions hereinafter set forth.

         NOW, THEREFORE, in consideration of the mutual covenants and agreements
set forth herein,  the receipt and sufficiency of which is hereby  acknowledged,
the parties do hereby agree as follows:

         1.  Recitals. The above set forth recitals are hereby  incorporated  by
reference as if restated in full herein.

         2.  Purchase and Sale of Real Property.

             2.1 The Real  Property  to be sold by Seller to Buyer  pursuant  to
this Agreement consists of the following:

             2.2 All that  certain  Land  located  in Broward  County,  Florida,
commonly known as 3200 West Oakland Park Boulevard,  Lauderdale Lakes,  Florida,
as more  particularly  described  on Exhibit "A" annexed  hereto and made a part
hereof, including,  without limitation,  all easements, if any, that benefit the
Land;  all rights and  appurtenances  pertaining  to the Land;  all  privileges,
rights,  licenses  and rights of way  (excluding,  however,  all of the personal
property of any tenants thereon).

             2.3 The buildings and improvements located upon the Land, including
without  limitation  the one-story  building (the  "BUILDING")  located upon the
Land.

The foregoing is hereinafter collectively referred to as the "REAL PROPERTY".

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         3.  Purchase Price and Manner of Payment.

             3.1 Purchase Price.  The purchase price for the Real Property shall
be $8,500,000.00.

             3.1.1 Manner of Payment.  The  Purchase  Price shall be paid in the
following manner:

             A. Buyer  contemporaneous  with the  execution and delivery of this
Agreement shall make deposit (the "DEPOSIT") in the amount of $100,000  ($25,000
of which shall be  non-refundable,  except in the event of a material  breach of
this  Agreement  by Seller)  with  Mombach,  Boyle & Hardin,  P.A.  (the "ESCROW
AGENT"),  receipt of which shall be acknowledged by Escrow Agent's  execution of
the Acknowledgment at the end of this Agreement.  Notwithstanding the foregoing,
a $75,000  portion of the Deposit shall be  refundable  in  accordance  with the
provisions of Sections 5 and 13.2 hereof.  The wire instructions of Escrow Agent
are  attached as Exhibit  "B".  The Deposit  shall be held by Escrow Agent in an
interest bearing account.

             B. A portion of the Purchase  Price in the amount of $650,000 shall
be paid by Buyer to Seller at closing by way of a wire  transfer to such account
as Seller may designate.

             C. A portion of Purchase  Price in the amount of $750,000  shall be
paid by Buyer to  Seller at  closing  by way of the  transfer  and  delivery  of
250,000 shares of the common stock, no par value,  of Buyer (the "SHARES").  The
Shares shall be restricted securities,  in accordance with applicable securities
laws, and shall include  "piggyback  registration"  rights, in accordance with a
stock purchase agreement ("STOCK PURCHASE  Agreement") in substantially the form
attached hereto as Exhibit "C".

             D. The  balance of the  Purchase  Price,  shall be paid by Buyer at
closing by the execution and delivery of a promissory note  ("PROMISSORY  NOTE")
payable to Seller,  in the original  principal amount of $7,000,000  (subject to
any prorations as described in Section 7), in a form  satisfactory to Seller, as
typically required by Florida institutional commercial lenders, which Promissory
Note shall be secured by a Mortgage Deed and Security Agreement ("MORTGAGE") and
UCC-1  Financing  Statements,  in a form  satisfactory  to Seller,  as typically
required by Florida institutional  commercial lenders. The Promissory Note shall
have no prepayment penalty.  The Promissory Note shall bear interest at the rate
of 6.5% per annum and provide for monthly  payments of interest  only,  together
with a principal prepayment of $250,000,  which shall be due six months from the
date of closing;  the entire  outstanding  principal  and any accrued and unpaid
interest shall be due and payable in full one year from the date of closing. The
outstanding  principal  balance of the  Promissory  Note or any portion  thereof
shall be convertible,  at any time, at the sole option of Seller into the common
stock, no par value, of Buyer (the "CONVERSION SHARES") at a conversion price of
$3.50 per share.  The  Conversion  Shares  shall be  restricted  securities,  in
accordance  with  applicable  securities  laws,  and  shall  include  "piggyback
registration"   rights,  in  accordance  with  the  Stock  Purchase   Agreement.
Additionally,  upon five (5) days prior written notice to Seller, the Promissory
Note may be  prepaid  in full by the  Buyer at  anytime  during  the term of the
Promissory  Note in the sole  discretion  of the Buyer.  Such  notice  shall not
preclude Seller's  conversion  option, as described above, if exercised prior to
the date of such prepayment.

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         4. Tax and  Interest  Escrow.  Buyer agrees to deposit into an interest
bearing escrow account (the "TAX AND INTEREST  ESCROW  ACCOUNT") a prepayment of
mortgage interest and estimated real estate taxes, at closing,  in the amount of
$150,000.00, which shall be used to pay the next three monthly interest payments
due under the  Promissory  Note and the excess,  if any, shall be held by Seller
and  applied  to pay any  real  estate  taxes  due in  connection  with the Real
Property.  Buyer  shall  deposit  into  the Tax  and  Interest  Escrow  Account,
additional quarterly prepayments of interest and estimated real estate taxes, to
be  applied  as  described  in the  previous  sentence,  each in the  amount  of
$145,000,  on the ninety (90) day,  one-hundred eighty (180) day and two-hundred
seventy (270) day  anniversaries  of the Closing Date (as defined  hereinafter).
Seller will remit from the Tax and Interest Escrow Account,  the payment of real
estate taxes, however, prior thereto, Buyer shall, if the amount in such Tax and
Interest  Escrow  Account  allocated to real estate taxes is deficient,  pay the
shortfall to Seller  immediately  upon receipt of notice of such deficiency from
Seller.  All interest  earned in the tax and interest  escrow  account  shall be
allocated to the benefit of and be the sole property of the Buyer.  Buyer agrees
to furnish  Seller with its FEIN in  connection  with the  establishment  of the
interest bearing account.

         5.  Access to Real Property Prior to Closing.

             5.1 Upon receipt by Seller of twenty-four  (24) hours prior notice,
Buyer and its agents, servants, employees,  contractors and representatives from
and after the  Effective  Date of this  Agreement  shall have the right to enter
onto the Real  Property for the purpose of having  inspections  made as provided
herein or for any other purposes  relevant to Buyer's  purchase and proposed use
of the Real Property.  Any  inspections of the Real Property shall be subject to
the rights of any tenants currently occupying the Real Property. Buyer agrees to
repair  any and all  damage  which  may  occur  as a result  of any  inspections
performed by or on behalf of Buyer.  Buyer agrees to indemnify,  defend and hold
Seller  harmless  from and against any and all  demands,  liabilities,  damages,
losses, actions or claims, costs or expenses incurred or asserted against Seller
(inclusive  of  attorney's  fees) as a result of Buyer's  inspection of the Real
Property and/or Buyer's activities on the Real Property of any nature.  Prior to
performing  any testing at the Real  Property,  Buyer shall furnish  Seller with
evidence of liability insurance reasonably satisfactory to Seller. The repair of
any damage  caused by any  testing  completed  at the Real  Property  shall be a
condition precedent to the return of the Deposit to Buyer.

             5.2  Buyer  shall  have ten (10) days  from the  Effective  Date to
conduct due diligence on the real property (the "DUE DILIGENCE PERIOD").  Should
the Buyer, in its sole discretion, terminate this Agreement for any reason prior
to the expiration of the Due Diligence  Period,  the  $75,000.00  portion of the
Deposit shall be refunded to the Buyer.

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<PAGE>

         6.  Title and Survey.

             6.1 Within three (3) business  days of the Effective  Date,  Seller
will  provide  Buyer  with a copy of the  prior  owner's  policy  for  the  Real
Property.  Within ten (10)  business  days of the  Effective  Date,  Buyer shall
obtain,  at Buyer's  expense,  a title insurance  commitment (the  "COMMITMENT")
issued by a title  insurance  company  selected by Buyer (the  "TITLE  COMPANY")
binding the Title  Company to insure good,  marketable  and insurable fee simple
title to the Real Property by way of (i) an Owner's Title Insurance Policy,  and
(ii) a Mortgagee Title Insurance Policy in favor of Seller.

             6.2 Buyer  shall have until 10  business  days after its receipt of
the Commitment to specifically object in writing to any particular  condition of
title  or  exception  revealed  by the  Commitment,  other  than  the  Permitted
Exceptions  as set forth on  Exhibit  "D"  attached  hereto.  If Buyer  fails to
specifically object in writing to any particular condition of title or exception
set forth in the Commitment  within said time period,  then same shall be deemed
waived and such condition of title or exception  shall be deemed to constitute a
Permitted Exception.  Notwithstanding anything to the contrary contained herein,
Seller shall have no  obligation  to bring any action or proceeding or otherwise
to incur  any  expense  whatsoever  to  eliminate  or  modify  any  unacceptable
exceptions or to cure any such title deficiencies  except,  however:  (i) Seller
shall be obligated to cure any monetary objections (i.e.  mortgages or taxes not
reflected in the Permitted  Exceptions);  (ii) Seller shall be obligated to cure
any other title defects  (including  survey  matters)  provided,  however,  that
Seller shall not be obligated to expend in excess of an aggregate of  $25,000.00
in connection with curing any such title defects except, however, as to any lien
or mortgage incurred after the Effective Date of this Agreement, Seller shall be
responsible for the entire cost thereof.  If Buyer timely notifies Seller of any
objection to title,  Seller shall advise Buyer within five (5) business  days of
receipt of Buyer's  notice as to whether  Seller will  eliminate  or modify such
unacceptable exceptions. In the event Seller is unable or unwilling to eliminate
or modify such unacceptable exceptions,  then Buyer, shall elect within five (5)
business days of receipt of notice from Seller, to either cancel this Agreement,
in which  event  Escrow  Agent  shall  return the Deposit to Buyer and Buyer and
Seller  shall be released  from any  further  obligations  under this  Agreement
except those obligations arising under Section 5 of this Agreement, or Buyer may
waive the  objection  to the  condition  of title and  close  hereunder  without
reduction of the Purchase  Price.  Unless  Buyer gives  notice  terminating  the
Agreement  on or before the  expiration  of the 5 day period  following  Buyer's
receipt of notice from Seller, the title objections shall be deemed waived.

             6.3 Seller, contemporaneous with the execution and delivery of this
Agreement,  shall furnish to Buyer,  Seller's existing survey with regard to the
Real Property.  Buyer may cause a new survey or an update of the existing survey
to  be  made  at  Buyer's  sole  cost  and  expense.   If  a  survey  shows  any
encroachments,  gaps,  gores,  easements,  rights-of-way  or any  other  type of
encumbrance  or impediment  not authorized by this Agreement or not shown on any
prior survey of the Real Property as  referenced  in the  Permitted  Exceptions,
Buyer shall give written  notice of such defect to Seller,  together with a copy
of the survey,  on or before 10 business days after the Effective  Date in which
event said defect shall be governed in the same manner and time as objections to
title are dealt with in Section 6.2 and the parties  shall have the same rights,
privileges  and  obligations  as if the  defect  was an  objection  to  title as
specified in Section 6.2 of this  Agreement.  The surveys  shall be certified to
the Buyer, Seller, the Title Company, Seller's counsel and Buyer's counsel.

                                       4
<PAGE>

         7.  Expenses and Prorations.

             7.1 The costs  relating to the  recording  of the special  warranty
deed conveying the Real Property and all documentary stamps and intangible taxes
due on account of the  Promissory  Note and Mortgage shall be paid by the Buyer.
Buyer shall also pay all premiums  incurred in obtaining the  Commitment and the
issuance of the Owner's Title  Insurance  Policy and Mortgagee  Title  Insurance
Policy, the cost of any survey obtained by Buyer and the cost of all inspections
performed by or on behalf of Buyer. The documentary stamp taxes to be affixed to
the special warranty deed shall be paid by Seller.

             7.2 Termination of Existing Leases. Seller agrees to notify any and
all tenants  ("Tenants")  to vacate the Real Property prior to the Closing Date.
To the extent that any Tenants have not vacated the Real  Property  prior to the
Closing Date,  Seller agrees to proceed with the eviction of such Tenants at its
sole cost and  expense  and Buyer will have the  option to (i)  assume  Seller's
rights and obligations with respect to the eviction process or (ii) postpone the
Closing Date until such time as all such holdover  Tenants have vacated the Real
Property.  Buyer, in its sole  discretion,  may notify Seller that it desires to
have one or more of the leases assigned to Buyer at Closing, any such assignment
to be without representations or warranties.

             7.3 Taxes and Assessments;  Pending and Certified Liens.  Taxes and
assessments  for the year of Closing  shall be prorated as of the end of the day
prior to the day of Closing  ("PRORATIONS  DATE")  upon the amount of such taxes
for the year of  Closing  if the  amount  of such  taxes is known at the time of
Closing;  if such amount cannot be then  ascertained,  proration  shall be based
upon the amount of the taxes,  with the maximum discount allowed by law, for the
preceding year. If any tax proration shall be based upon the amount of taxes for
the year  preceding  the year of Closing,  such taxes,  at the request of either
party, shall be reprorated and adjusted between the parties, on the basis of the
maximum  discounted  payment,  forthwith  after  the tax  bills  for the year of
Closing are  received.  County or other public liens,  if any,  certified or for
which the work has been substantially  completed on the date of Closing shall be
paid by  Seller  and any other  such  liens  shall be  assumed  by Buyer.  Other
assessments  not included on the regular  property  tax bills,  license fees for
transferred  licenses,  and  state  or  municipal  fees and  taxes  for the Real
Property for the applicable fiscal period during which Closing takes place shall
be  adjusted  as of  the  Prorations  Date  on the  basis  of  the  most  recent
ascertainable  assessments  and rates,  and shall be  re-prorated  as  necessary
pursuant to subparagraph 7.5 below. Seller's share of the 2004 real estate taxes
will not be given as a credit  to Buyer but will be  deposited  into the Tax and
Insurance Escrow Account as set forth in Section 4.

                                       5
<PAGE>

             7.4 Utility  Charges.  Electric,  water,  sewer,  gas, fuel,  waste
collection and removal and other utility and operating  expenses relating to the
Real Property shall be prorated as of the  Prorations  Date. It shall be assumed
that the utility  charges were incurred  uniformly  during the billing period in
which the Closing occurs.  If bills for the applicable  period are  unavailable,
the amounts of such charges will be estimated based upon the latest known bills.
Notwithstanding  the foregoing,  to the extent possible,  Seller and Buyer shall
request the utility  companies to read the meters as of the Prorations Date, and
Seller shall be  responsible  for all charges  incurred  through the  Prorations
Date. All prepaid deposits for utilities shall be refunded to Seller at the time
of closing, and it shall be Buyer's  responsibility to make any utility deposits
required for service.

             7.5 Reproration and Post-Closing Adjustments. In the event that any
adjustments or prorations cannot be apportioned or adjusted at Closing by reason
of the fact that final or liquidated  amounts have not been ascertained,  or are
not available as of such date,  the parties  hereto agree to apportion or adjust
such items on the basis of their best estimates of the amounts at Closing and to
re-prorate  any and all of such amounts  promptly  when the final or  liquidated
amounts are ascertained.

         8.  Buyer Covenant; Charter  Schools.  Buyer hereby covenants to Seller
that it will use its commercially  reasonable efforts to execute an agreement at
or prior to Closing,  with the New Vision Children's  Foundation  ("FOUNDATION")
respect to the Eagle Academy  Charter School and the Smart School Charter School
(collectively, the "CHARTER SCHOOLS"), each of which are located adjacent to the
Real Property,  for the purpose of organizing and performing the following:  (i)
an annual  fund  raising  event,  the annual cost of which shall be a minimum of
$5,000; (ii) film,  television and locational  production work programs with the
students  of the  Charter  Schools;  (iii) a large  group  event  (for  example,
graduations,  recitals,  etc.) to be  attended  by all  students  of the Charter
Schools  and their  parents,  at least  twice per  calendar  year;  (iv) a joint
production of the Buyer and the Foundation, at least once per calendar year

         9.  Seller Covenant. Seller  acknowledges that it owns a certain parcel
of real property  adjacent to or near the Real  Property,  which is described in
Exhibit "E"  ("ADJACENT  PROPERTY").  Seller  hereby  grants to Buyer a right of
first offer ("ROFO") in the event Seller  decides to sell the Adjacent  Property
to any unrelated third party.  In connection with the ROFO,  prior to selling or
leasing the Adjacent Property to an unrelated third party,  Seller shall provide
Buyer with written notice thereof  ("PROPOSAL SALE NOTICE"),  which notice shall
include an asking price for the Adjacent  Property.  Buyer will have a period of
five (5) days from its  receipt  of the  Proposal  Sale  Notice to enter  into a
binding  purchase and sale  agreement  with Seller at the price set forth in the
Proposal  Sale Notice,  on a cash basis.  If Buyer fails to enter into a binding
purchase and sale agreement with Seller,  which is  satisfactory  to Seller,  in
Seller's sole discretion,  within such five (5) day period,  Seller will be free
to sell the Adjacent Property to any party without restriction.

         10. Closing.   The parties  shall close the  subject  transaction  (the
"CLOSING")  on a date which is forty-five  (45) days after the  Effective  Date,
provided,  however,  that if such date is a weekend or holiday, then the closing
date shall be the next business day (the "CLOSING DATE").  Closing shall be held
at the offices of Mombach,  Boyle & Hardin,  P.A.,  500 East Broward  Boulevard,
Suite 1950, Fort  Lauderdale,  FL 33394 or such other place mutually agreed upon
by the parties.

                                       6
<PAGE>

         11. Closing Documents.

             11.1 At the time of Closing, Seller shall execute and/or deliver to
Buyer executed originals of the following documents:

             A.  Statutory  form special  warranty  deed,  in  recordable  form,
         conveying the Real Property.

             B. Properly  executed  Seller's  affidavit of title containing such
         matters as are  customarily  used in connection  with purchase and sale
         transactions including without limitation matters required in order for
         the Title Commitment to delete the "gap" exception  pursuant to Florida
         Statutes,  Section 627.7841 (1983) as amended,  to provide coverage for
         mechanics  liens and to  provide  coverage  as to rights of  parties in
         possession other than those identified in the Tenant Leases.

             C. Closing statement of adjustments.

             D.  Properly  executed  Affidavit  complying  with  the  rules  and
         regulations promulgated under FIRPTA.

             E. Bill of Sale  without  warranties  with  respect to any personal
         property,  except for Seller's special warranty of title. A schedule of
         such personal property is attached hereto as Exhibit "F".

             F.  Appropriate   Trustee  resolutions  and  certificates  of  good
         standing, if applicable,  evidencing the due authorization of Seller to
         effectuate the sale of the Real Property.

             G. All keys in Seller's  possession  to all entrance  doors to, and
         any rooms located in Building or on the Real Property; and

             H. Such other customary and reasonably  necessary  documents as may
         be required by Buyer to be delivered by Seller in  accordance  with the
         terms and provisions of this Agreement.

             11.2 At the time of Closing,  Buyer shall execute and/or deliver to
Seller executed originals of the following documents:

                                       7
<PAGE>

             A.   Certificates  of  good  standing  and  corporate   resolutions
         evidencing the due authorization of Buyer to effectuate the purchase of
         the Real  Property,  execute and deliver  the  Promissory  Note and the
         Mortgage, and issue the Shares and the Conversion Shares.

             B. Promissory Note

             C. Mortgage (including such terms and conditions as are customarily
         required by Florida institutional  commercial lenders,  including,  but
         not limited to, liability and casualty insurance coverage requirements,
         due on sale clause, authorization of filing of UCC-1, etc.)

             D. Stock Purchase Agreement.

             E. Closing Statement of adjustments.

             F. Certificates,  if any, representing all of the Shares,  endorsed
         in blank or accompanied by duly executed assignment documents.

             G. Such other customary and reasonably  necessary  documents as may
         be required by Seller to be delivered by Buyer in  accordance  with the
         terms and provisions of this Agreement.

         12. Brokerage.

             12.1 The  parties  hereto  represent  to each  other that they have
dealt with no broker, finder, agent or real estate consultant in connection with
this Agreement or the transactions  contemplated  hereby,  except the following:
Commercial  Property  Realty  Advisors  ("BROKER")  whose  fees shall be paid by
Seller  pursuant to a separate  agreement.  No  commissions  shall be due unless
closing is effected.

             12.2 Seller agrees to, and hereby does, indemnify,  defend and save
harmless  Buyer and its respective  successors and assigns  against and from any
loss, liability or expense,  including reasonable attorneys fees, to and through
all appellate and supplemental  proceedings,  arising out of any claim or claims
for commissions or other  compensation  for bringing about this Agreement or the
transactions  contemplated  hereby  made by any  broker,  finder,  agent or real
estate consultant if such claim or claims made by any such broker, finder, agent
or  real  estate   consultant   are  based  upon  dealing  with  Seller  or  its
representatives.

             12.3 Buyer agrees to, and hereby does,  indemnify,  defend and save
harmless  Seller and its respective  successors and assigns against and from any
loss, liability or expense,  including reasonable attorneys fees, to and through
all appellate and  supplemental  proceedings  arising out of any claim or claims
for commissions or other  compensation  for bringing about this Agreement or the
transactions  contemplated  hereby  made by any  broker,  finder,  agent or real
estate consultant (other than Broker, which shall be paid by Seller as set forth
in 15.1 above), if such claim or claims made by any such broker,  finder,  agent
or  real  estate   consultant   are  based  upon   dealing  with  Buyer  or  its
representatives.

                                       8
<PAGE>

             12.4 The provisions of this Section 12 shall survive Closing.

         13. Remedies Upon Default.

             13.1 If Buyer defaults under this  Agreement,  Seller's sole remedy
shall be to receive  and retain the  Deposit as  liquidated  damages for loss of
bargain  and not as a  penalty,  it being  agreed  that in the event of  Buyer's
default,  the actual  damages to Seller would be difficult if not  impossible to
ascertain  and/or  calculate.  Upon such receipt and  retention by Seller,  this
Agreement  shall be deemed null and void and of no further  force and effect and
no party hereto shall have any further rights or obligations  hereunder,  except
the indemnification obligations of Buyer as set forth in Section 5 above.

             13.2 If on or prior to the Closing  Date,  Seller shall have failed
to comply with any of the terms, provisions or conditions of this Agreement then
Buyer shall have the following rights: (i) to elect to receive the return of the
Deposit and waiving any action for damages  resulting from Seller's  breach;  or
(ii) to  seek  specific  performance  of  Seller's  obligations  hereunder.  The
remedies set forth in this Section 13 shall be the sole  remedies of the parties
hereto.

             13.3 In the event any  litigation  should arise in connection  with
this  Agreement,  the prevailing  party shall be entitled to collect  reasonable
attorney's  fees  and  costs  from  the  defaulting  party  to and  through  all
appellate,  post judgment and bankruptcy proceedings.  The remedies set forth in
this Section 13 shall be the sole remedies of the parties hereto.

         14. Risk of Loss.

             14.1 Until the Closing has occurred,  all risk of loss or damage to
the Real Property shall be borne by Seller,  subject to the terms hereof. Seller
agrees to maintain insurance coverages as to the Real Property during the period
of time from the  Effective  Date until closing in the same manner as maintained
by Seller prior to the Effective Date. Seller agrees to give Buyer prompt notice
of any fire or other  casualty  affecting  the Real Property or of any actual or
threatened  (to the extent  that Seller has current  actual  knowledge  thereof)
taking or  condemnation of all or any portion of the Real Property.  Seller,  to
the  best  of  its  knowledge,  is  not  aware  of  any  pending  or  threatened
condemnation proceeding with regard to the Real Property or any portion thereof.

                                       9
<PAGE>

             14.2 If prior to Closing, there shall occur:

                  (a)  damage  to the  Real  Property  caused  by fire or  other
         casualty  which would cost an amount,  greater  than, or equal to, five
         percent (5%) of the total Purchase Price to repair; or

                  (b) the taking or  condemnation  of all or any  portion of the
         Real Property which would materially  interfere with the present use of
         the Real Property;

then, in such event, Buyer shall have the right, at Buyer's option, to terminate
this  Agreement by written  notice  thereof  delivered to Seller within ten (10)
days after Buyer has  received  notice from Seller or  otherwise  learns of that
event. If Buyer does not so timely elect to terminate this  Agreement,  then the
Closing shall take place as provided herein and there shall be assigned to Buyer
at the  Closing  all  interest  of Seller in and to any  insurance  proceeds  or
condemnation  awards payable to Seller on account of that event, less sums which
Seller incurs  before the Closing to repair any of the damage,  and the Purchase
Price shall be reduced by the amount of any deductible under Seller's  insurance
policy.  If Buyer does so timely elect to  terminate  this  Agreement,  then the
Deposit shall be returned to Buyer and this  Agreement  shall be deemed null and
void and of no further  force and effect and neither party hereto shall have any
further  rights  or  obligations  hereunder,   except  the  indemnification  and
obligations of Buyer as set forth in Section 5 above.

             14.3 If before any Closing there occurs:

                  (a)  damage  to the  Real  Property  caused  by fire or  other
         casualty  which  would  cost less than five  percent  (5%) of the total
         Purchase Price to repair; or

                  (b) the  taking  or  condemnation  of a  portion  of the  Real
         Property which would not  materially  interfere with the present use of
         the Real Property;

then,  Buyer may not  terminate  this  Agreement and there shall be assigned to,
Buyer at the Closing all interest of Seller in and to any insurance  proceeds or
condemnation  awards payable to Seller on account of that event, less sums which
Seller incurs  before the Closing to repair any of the damage,  and the Purchase
Price shall be reduced by the amount of any deductible under Seller's  insurance
policy.

         15. Escrow Provisions.

             15.1 Seller and Buyer  hereby  designate  Mombach,  Boyle & Hardin,
P.A. as Escrow Agent, to receive and hold the Deposit, subject to the provisions
of this  subsection.  Upon receipt by Escrow Agent of a statement from Seller or
Buyer  pertaining  to a  controversy  relating to the Deposit  and/or  demanding
retention of the Deposit by Escrow Agent,  then in that event Escrow Agent shall
have the following options: (i) to retain the Deposit until written agreement is
reached  between the  parties or until a final  judgment  has been  entered by a
court of competent jurisdiction and the appeal period has expired thereon or, if

                                       10
<PAGE>

appealed, after the matter has finally been concluded; (ii) to place the Deposit
with the Clerk of the  Circuit  Court  having  jurisdiction  and to  notify  the
parties in accordance with the notice provisions set forth herein; (iii) to file
an action in the nature of an  interpleader  joining  the  parties  hereto  and,
thereafter, complying with the ultimate judgment of the Court with regard to the
disposition of the dispute. All costs incurred by Escrow Agent pertaining to any
such controversy shall be and constitute a charge against the Deposit.

             15.2  Escrow  Agent  shall  not  be  bound  by  any  modifications,
cancellation or rescission of this Agreement unless in writing and signed by all
parties thereto. In no event, however,  shall any modification of this Agreement
which  shall  affect the  rights or duties of Escrow  Agent be binding on Escrow
Agent unless it shall have given its prior written  consent.  Escrow Agent shall
make no charge for its  service in acting as Escrow  Agent;  provided,  however,
that if there is any dispute  relating to the  Deposit or its  disposition,  all
parties  hereto shall be jointly and  severally  obligated  to reimburse  Escrow
Agent for all of its costs  and  expenses  in  connection  therewith,  including
reasonable  attorneys fees, and to indemnify it and hold it harmless against any
claim  asserted  against it or any liability,  loss or damage  incurred by it in
connection therewith, unless any misdelivery of the Deposit or a portion thereof
shall be due to willful breach of this Agreement or gross negligence on the part
of Escrow Agent. It is agreed that Escrow Agent shall have full discretion as to
whom it may retain as legal counsel to protect its interest (including retaining
its own firm) and the same shall not affect or in any way prejudice or limit the
Escrow Agent's  entitlement to reasonable  attorneys'  fees for services of such
attorneys.  Buyer  acknowledges that Escrow Agent has represented  Seller in the
negotiation  of this  Agreement  and in certain other matters and such shall not
limit  Escrow  Agent's  right to  represent  Seller  in the  event of a  dispute
hereunder.

         16. Notices.   Any notice  provided for by this Agreement and any other
notice,  demand or  communication  which  any party may wish to send to  another
(hereinafter  collectively  referred to as the "NOTICE") shall be in writing and
shall be deemed to have been properly given upon delivery or attempted  delivery
if served  by (i)  personal  delivery  during  normal  business  hours;  or (ii)
registered or certified  mail,  return receipt  requested,  in a properly sealed
envelope,  postage  prepaid,  addressed  to the party for which  such  Notice is
intended;  or (iii) by  expedited  national  courier  service,  at such  party's
address as set forth below:

         If to Seller:             Lakes Holding Trust U/A dated July 27, 2001
                                   c/o Florida Production Central Studios, LLC
                                   3200 West Oakland Park Blvd.
                                   Fort Lauderdale, FL 33311-1245
                                   Attn: Charley Zeches

         with a copy to:           Conrad J. Boyle, Esquire
                                   Mombach, Boyle & Hardin, P.A.
                                   500 East Broward Boulevard
                                   Suite 1950
                                   Fort Lauderdale, FL  33394

                                       11
<PAGE>

         If to Buyer:              AGU Entertainment Corp.
                                   11077 Biscayne Boulevard, Suite 100
                                   Miami, Florida 33161
                                   Attn: David Levy

         with a copy to:           Blank Rome, LLP
                                   1200 North Federal Highway
                                   Suite 417
                                   Boca Raton, Florida 33432
                                   Attn: Bruce Rosetto, Esq.

         If to Escrow Agent:       Conrad J. Boyle, Esquire.
                                   Mombach, Boyle & Hardin, P.A.
                                   Suite 1950
                                   500 East Broward Boulevard
                                   Fort Lauderdale, FL  33394

         Any address or name specified above may be changed by a Notice given by
the addressee to the other parties in accordance  with the  provisions set forth
above.

         All  Notices  shall be  deemed  given and  effective  as of the date of
personal  delivery  thereof  or the date of  receipt  set  forth  on the  return
receipt.  The  inability  to deliver  because  of a changed  address of which no
Notice was given,  or rejection  or other  refusal to accept any Notice shall be
deemed  to be the  receipt  of the  Notice as of the date of such  inability  to
deliver or rejection or refusal to accept.

         17. Transition.

             17.1 Real  Property.  Buyer is purchasing  the Real Property in "as
is"  condition  as of the  date of this  Agreement,  however,  Seller  shall  be
responsible to maintain the Real Property in the same  condition  existing as of
the date of this Agreement.

             17.2 Announcements.  Except as required by applicable law, no Party
will issue any press release or make any public  announcement or announcement to
any Tenant of Seller,  relating to the subject matter of this Agreement prior to
the Closing  without the prior  written  approval of the other Party in its sole
discretion.

                                       12
<PAGE>

             18.  Condition of the Real  Property.  Upon  completion  of the Due
Diligence Period,  Buyer  acknowledges that Seller has provided Buyer sufficient
opportunity to make such independent  factual,  physical and legal  examinations
and inquiries as Buyer deems  necessary  and desirable  with respect to the Real
Property and the  transaction  contemplated by this Agreement and that Buyer has
approved the Real  Property in all  respects.  The  following  provisions  shall
thereupon be  applicable  and shall survive the Closing or  termination  of this
Agreement:

         (a) Buyer does hereby acknowledge,  represent, warrant and agree to and
         with Seller that:  (i) Buyer is expressly  purchasing the Real Property
         in its existing  condition  "AS IS, WHERE IS, AND WITH ALL FAULTS" with
         respect to all  facts,  circumstances,  conditions  and  defects;  (ii)
         Seller has no  obligation  to inspect  for,  repair or correct any such
         facts, circumstances,  conditions or defects or to compensate Buyer for
         same (except for matters due to casualty or condemnation which shall be
         subject  to  the  provisions   set  forth  below);   (iii)  Seller  has
         specifically   bargained   for  the   assumption   by   Buyer   of  all
         responsibility  to inspect and investigate the Real Property and of all
         risk of adverse  conditions  and has  structured the Purchase Price and
         other terms of this Agreement in consideration  thereof; (iv) Buyer has
         undertaken all such inspections and investigations of the Real Property
         as Buyer deems necessary or appropriate  under the  circumstances as to
         the  condition  of the Real  Property and the  suitability  of the Real
         Property for Buyer's  intended  use, and based upon same,  Buyer is and
         will  be  relying   strictly  and  solely  upon  such  inspections  and
         examinations and the advice and counsel of its own consultants, agents,
         legal  counsel and  officers  and Buyer is and will be fully  satisfied
         that the Purchase Price is fair and adequate consideration for the Real
         Property; and (v) Seller is not making and has not made any warranty or
         representation  with respect to any materials or other data provided by
         Seller to Buyer  (whether  prepared  by or for the Seller or others) or
         the education, skills, competence or diligence of the preparers thereof
         or the physical condition or any other aspect of all or any part of the
         Real Property as an  inducement  to Buyer to enter into this  Agreement
         and  thereafter to purchase the Real Property or for any other purpose.
         Without  limiting  the  generality  of  any  of  the  foregoing,  Buyer
         specifically  acknowledges that Seller does not represent or in any way
         warrant the accuracy of any marketing  information or pamphlets listing
         or describing the Real Property or the information, if any, provided by
         Seller to Buyer; and

         (b)  SELLER  HEREBY  DISCLAIMS  ALL  WARRANTIES  OF ANY KIND OR  NATURE
         WHATSOEVER  (INCLUDING  WARRANTIES  OF  HABITABILITY  AND  FITNESS  FOR
         PARTICULAR PURPOSES),  WHETHER EXPRESSED OR IMPLIED, INCLUDING, BUT NOT
         LIMITED  TO  WARRANTIES   WITH  RESPECT  TO  THE  REAL  PROPERTY,   TAX
         LIABILITIES,  ZONING, LAND VALUE,  AVAILABILITY OF ACCESS OR UTILITIES,
         INGRESS OR EGRESS,  GOVERNMENTAL APPROVALS,  OR SOIL CONDITIONS.  BUYER
         FURTHER ACKNOWLEDGES THAT BUYER IS BUYING THE REAL PROPERTY "AS IS" AND

                                       13
<PAGE>

         IN ITS  PRESENT  CONDITION  AND  THAT  EXCEPT  AS  OTHERWISE  EXPRESSLY
         PROVIDED   IN  THIS   AGREEMENT,   BUYER  IS  NOT   RELYING   UPON  ANY
         REPRESENTATION  OF ANY KIND OR  NATURE  MADE BY  SELLER,  OR ANY OF ITS
         EMPLOYEES OR AGENTS WITH RESPECT TO THE REAL PROPERTY; and

         (c)  FURTHERMORE AND WITHOUT IN ANY WAY LIMITING ANY OTHER PROVISION OF
         THIS  AGREEMENT,  SELLER MAKES NO WARRANTY WITH RESPECT TO THE PRESENCE
         ON OR BENEATH THE REAL PROPERTY (OR ANY PARCEL IN PROXIMITY THERETO) OF
         HAZARDOUS MATERIALS. BY ACCEPTANCE OF THIS AGREEMENT AND CLOSING OF THE
         SALE, BUYER  ACKNOWLEDGES  THAT BUYER'S  OPPORTUNITY FOR INSPECTION AND
         INVESTIGATION  OF THE REAL  PROPERTY  (AND OTHER  PARCELS IN  PROXIMITY
         THERETO)  HAS  BEEN  ADEQUATE  TO  ENABLE  BUYER  TO MAKE  BUYER'S  OWN
         DETERMINATION  WITH  RESPECT TO THE  PRESENCE  ON OR  BENEATH  THE REAL
         PROPERTY  (AND OTHER  PARCELS IN PROXIMITY  THERETO) OF SUCH  HAZARDOUS
         MATERIALS.  FURTHERMORE,  BUYER'S CLOSING  HEREUNDER SHALL BE DEEMED TO
         CONSTITUTE  AN  EXPRESS  WAIVER  OF  BUYER'S  AND ITS  SUCCESSORS'  AND
         ASSIGNS'  RIGHTS TO SUE SELLER AND OF BUYER'S  RIGHT TO CAUSE SELLER TO
         BE JOINED IN AN ACTION  BROUGHT UNDER ANY FEDERAL,  STATE OR LOCAL LAW,
         RULE,  ACT, OR REGULATION NOW EXISTING OR HEREAFTER  ENACTED OR AMENDED
         WHICH PROHIBITS OR REGULATES THE USE, HANDLING, STORAGE, TRANSPORTATION
         OR  DISPOSAL  OF  HAZARDOUS  MATERIALS  OR WHICH  REQUIRES  REMOVAL  OR
         REMEDIAL ACTION WITH RESPECT TO SUCH HAZARDOUS MATERIALS,  SPECIFICALLY
         INCLUDING BUT NOT LIMITED TO FEDERAL "CERCLA", "RCRA", AND "SARA" ACTS.

         19. Miscellaneous.

             19.1 Construction.  The terms "Seller" and "Buyer" whenever used in
this Agreement shall include the heirs, personal representatives, successors and
assigns of the respective parties hereto; provided,  however, that Buyer's right
of assignment  is  restricted  by the  provisions  hereof.  Whenever  used,  the
singular  number shall include the plural and the plural the  singular,  and the
use of any gender shall include all genders. The term "including" as used herein
shall in all  instances  mean  "including,  but not limited to". The headings in
this  Agreement are intended  solely for  convenience  of reference and shall be
given no effect in the interpretation of this Agreement.  This Agreement and any
related  instruments shall not be construed more strictly against one party than
against  the  other by  virtue of the fact  that  initial  drafts  may have been
prepared  by  counsel  for one of the  parties,  it being  recognized  that this
Agreement and any related instruments are the product of extensive  negotiations
between the parties hereto.

                                       14
<PAGE>

             19.2  Counterparts.  This  Agreement may be executed in two or more
counterparts,  each of which shall be deemed an original,  but all of which will
constitute the same agreement.

             19.3  Severability  and Waiver.  Invalidation of any one Section or
provision  of this  Agreement  by judgment or court order shall in no way affect
any other Section or provision. Failure of any party to this Agreement to insist
on the full performance of any of its provisions by the other party (or parties)
shall not  constitute a waiver of such  performance  unless the party failing to
insist on full  performance  of the provision  declares in writing  signed by it
that it is waiving such performance. A waiver of any breach under this Agreement
by any party,  unless otherwise  expressly  declared in writing,  shall not be a
continuing  waiver  or  waiver  of any  subsequent  breach  of the same or other
provision of this  Agreement.  The  provisions of this Section shall survive the
Closing.

             19.4  Governing  Law.  The laws of the  State of  Florida  (without
regard to conflicts of law) shall govern the validity, construction, enforcement
and interpretation of this Agreement.

             19.5  Further  Acts.  In addition to the acts and deeds  recited in
this Agreement and  contemplated  to be performed,  executed,  and/or  delivered
under this Agreement,  Seller and Buyer agree to perform, execute and/or deliver
or cause to be delivered,  executed and/or delivered at Closing or after Closing
all further acts, deeds, and assurances  reasonably  necessary to consummate the
transactions contemplated hereby.

             19.6  Radon  Gas and  Energy  Efficiency  Disclosures.  Radon  is a
naturally occurring  radioactive gas that, when it has accumulated in a building
in sufficient  quantity,  may present health risks to persons who are exposed to
it over time. Levels of radon that exceed federal and state guidelines have been
found in buildings in Florida.  Additional information regarding radon and radon
testing may be obtained from your county public health unit.

         In accordance with the provisions of Section 553.996, Florida Statutes,
Buyer  is  advised  that  Buyer  may have the  energy-efficiency  rating  of the
buildings located on the Real Property determined. Buyer acknowledges that, with
the  execution  of this  Agreement,  Seller has  provided  to Buyer a copy of an
information brochure regarding energy-efficiency rating prepared and provided by
the Florida Department of Community Affairs.

             19.7 Entire  Agreement and Amendment.  This Agreement  contains the
entire understanding between Buyer and Seller with respect to the subject matter
hereof.  Neither  this  Agreement  nor any  provision  hereof  may be  modified,
amended,  changed, waived,  discharged or terminated orally. Any such action may
occur only by an instrument in writing signed by all of the parties.

                                       15
<PAGE>

             19.8  Recording.  Neither this Agreement nor any memorandum of this
Agreement  (or the ROFO) shall not be recorded and Buyer  agrees that  recording
same constitutes a default by Buyer.

             19.9 Exhibit.  The Exhibits which are referenced in and attached to
this Agreement are  incorporated  in, and made a part of, this Agreement for all
purposes.

             19.10 Time of the  Essence.  It is  expressly  agreed by Seller and
Buyer that time is of the essence with respect to this  Agreement.  If the final
day of any period or any date of  performance  under this  Agreement  falls on a
date which is not a business  day,  then the final day of the period or the date
of  performance,  as  applicable,  shall be  extended to the next day which is a
business day.

             19.11 No Third Party Beneficiary.  This Agreement is solely between
Seller and Buyer and no other party shall be entitled to rely upon any provision
hereof for any purpose whatsoever.

             19.12  Assignment.  Buyer may not assign this Agreement nor may any
of Buyer's rights hereunder by transferred in any manner to any person or entity
without Seller's specific prior written consent which consent may be withheld by
Seller for any reason  whatsoever  in  Seller's  sole and  absolute  discretion.
Excepted  from  the  foregoing  shall be an  assignment  to an  entity  which is
controlled   by  Buyer  or  Buyer's   principals   provided  that  there  is  no
consideration  paid in connection with such assignment and further provided that
Buyer gives  Seller  notice of such  assignment  at least ten (10) days prior to
Closing.

                            INTENTIONALLY LEFT BLANK

                                       16
<PAGE>

             19.13 Waiver of Jury. THE PARTIES HEREBY KNOWINGLY, VOLUNTARILY AND
INTENTIONALLY  WAIVE THE RIGHT  EITHER MAY HAVE TO A TRIAL BY JURY IN RESPECT OF
ANY LITIGATION BASED HEREON, OR ARISING OUT OF, UNDER OR IN CONNECTION WITH THIS
AGREEMENT AND ANY DOCUMENT EXECUTED IN CONNECTION HEREWITH OR RELATED HERETO, OR
ANY COURSE OR CONDUCT,  COURSE OF DEALING,  STATEMENTS (WHETHER ORAL OR WRITTEN)
OR ACTIONS OF EITHER  PARTY.  THIS  PROVISION IS A MATERIAL  INDUCEMENT  FOR THE
PARTIES TO ENTER INTO THIS AGREEMENT.

         IN WITNESS  WHEREOF,  this  Agreement  has been executed by the parties
hereto on the day and year indicated.

Signed, sealed and delivered
in the presence of:                              Seller:

                                                 LAKES HOLDING TRUST U/A DATED
                                                 July 27, 2001

/s/ Joan Smith                                   By: /s/ Elizabeth Buntrock
----------------------------------                   --------------------------
                                                     Charley Zeches, its Trustee
/s/ [ILLEGIBLE]
----------------------------------

                                                 Buyer:

                                                 AGU ENTERTAINMENT CORP.,
                                                 a Colorado corporation

/s/ Jeff Katz                                    By: /s/ David C. Levy
----------------------------------                   --------------------------
                                                     David Levy
/s/ Stephen Adelstein                                President
----------------------------------

                                       17
<PAGE>

                         ACKNOWLEDGMENT OF ESCROW AGENT

         Mombach,  Boyle & Hardin,  P.A., as Escrow Agent,  hereby  acknowledges
receipt of the Deposit in the amount of  $100,000.00,  subject to  clearance  of
funds, and agrees to hold the Deposit in escrow in accordance with the foregoing
Agreement for Purchase and Sale.

                                                  MOMBACH, BOYLE & HARDIN, P.A.

                                                  By: /s/ Conrad J. Boyle
                                                      --------------------------
                                                      Conrad J. Boyle, Esq.

                                                  Dated: September 15, 2004

<PAGE>

                              SCHEDULE OF EXHIBITS

         EXHIBIT "A" - Real Property

         EXHIBIT "B" - Wire Instructions

         EXHIBIT "C" - Stock Purchase Agreement

         EXHIBIT "D" - Permitted Exceptions

         EXHIBIT "E" - Adjacent Property

         EXHIBIT "F" - Personal Property

<PAGE>

                                   EXHIBIT "A"

                                  REAL PROPERTY

<PAGE>

                                   EXHIBIT "B"

                         ESCROW AGENT WIRE INSTRUCTIONS

               MOMBACH, BOYLE & HARDIN, P.A. WIRING INSTRUCTIONS:

To Whom It May Concern:

Please wire funds to the account listed below. Thank you.

        [ACCOUNT INFORMATION OMITTED FROM EXHIBIT 10.1 TO CURRENT REPORT
                                  ON FORM 8-K]

<PAGE>

                                   EXHIBIT "C"

                            STOCK PURCHASE AGREEMENT

                           TO BE PROVIDED BY BUYER AND
                      APPROVED BY SELLER PRIOR TO CLOSING,
                 IN ACCORDANCE WITH THE TERMS OF THIS AGREEMENT

<PAGE>

                                   EXHIBIT "D"

                              PERMITTED EXCEPTIONS

1.   Any lien, or right to a lien, for services,  labor, or material  heretofore
     or hereafter furnished, imposed by law and not shown by the public records.

2.   Taxes or special  assessments  which are not shown as existing liens by the
     public records.

3.   Taxes and assessments for the year 2004 and subsequent years, which are not
     yet due and payable.

4.   Easements,  dedications,  limitations,  private driveways and non-vehicular
     access lines as shown on the Plat of Somerset Plaza,  recorded in Plat Book
     111, at page 19, Public Records of Broward County, Florida.

5.   Terms and  provisions of that Gas  Agreement  dated March 1, 1961 and filed
     under Clerk's File No. 61-29764 on March 24, 1961 in Official  Records Book
     2145, at page 60, Public Records of Broward County, Florida.

6.   Terms and  provisions of that  Agreement with  Lauderdale  Utilities,  Inc.
     filed June 2, 1960 under Clerk's File No. 60-56789 in Official Records Book
     1942, at page 93, Public Records of Broward County,  Florida, as amended in
     that  Agreement  filed March 24, 1961 under  Clerk's  File No.  61-29797 in
     Official  Records Book 2145, at page 134, Public Records of Broward County,
     Florida

7.   Easement  granted to Florida Power & Light  Company,  dated April 28, 1980,
     filed April 30, 1980 in Official  Records  Book 8878,  at page 713,  Public
     Records of Broward County, Florida.

8.   Easement by and Between Rausman Venturer,  Inc and Landall  Venturer,  Inc,
     first Party,  and Midland at Somerset,  Inc. and Landall at Somerset,  Inc.
     d/b/a  Somerset at  Lauderdale  Lakes,  filed  October 30, 1978 in Official
     Records Book 7842, at page 528, Public Records of Broward County, Florida.

9.   Covenants, conditions, limitations,  restrictions and easements reserved in
     that  certain  Warranty  Deed filed  under  Clerk's  File No.  73-30116  on
     February  12,  1973 in  Official  Records  Book 5161,  at page 325,  Public
     Records of Broward  County,  Florida;  as may be affected by  Disclaimer of
     interest filed October 30, 1978 in Official Records Book 7842, at Page 545.

<PAGE>

10.  Terms,  provisions  and  easements in that  Developers  Agreement  filed in
     Official  Records Book 5417, at page 657, Public Records of Broward County,
     Florida;  as amended by that Addendum to Developers  Agreement  filed under
     Clerk's File No.  73-250435  on November 29, 1973 in Official  Records Book
     5542, at page 99, Public Records of Broward County, Florida.

11.  Easement  granted to Southern Bell Telephone and Telegraph  Company,  dated
     May 26, 1987,  filed June 10, 1987 in Official  Records Book 14518, at page
     537, Public Records of Broward County, Florida.

12.  Easement  granted to Broward  County,  dated May 22,  1987,  filed  January
     19,1989 in Official  Records  Book 16123,  at page 506,  Public  Records of
     Broward County, Florida.

13.  Terms and provisions of that  Indemnification  Agreement  filed January 19,
     1989 under  Clerk's File No.  89-23332 in Official  Records Book 16123,  at
     page  523,  Public  Records  of  Broward  County,   Florida,   additionally
     evidencing "chain link gates" over a utility easement.

14.  That  certain  unrecorded  Billboard  Lease dated  January 31, 1997 between
     Ralston Realty and AK Media Group, Inc.

15.  Matters  appearing  on  that  certain  survey  prepared  by  A.  Fiore  and
     Associates, Inc., dated July 7, 2001, LB 6467.

<PAGE>

                                   EXHIBIT "E"

                                ADJACENT PROPERTY

                                    PARCEL 1

Legal Description:         Val Verdi Acres 138-20 B Parcel "A"

                                    PARCEL 2

Legal Description:         30-49-42  N 70 of S 388  of W 1/2 of NW 1/4 of NE 1/4
                           of NE 1/4, Less W 30 for RD

                                    PARCEL 3

Legal Description:         30-49-42 S 318 of W 1/2 of NW 1/4 of NE 1/4,  Less 30
                           thereof.

                                    PARCEL 4

Legal Description:         Somerset Plaza 111-19 B Parcel A

<PAGE>

                                   EXHIBIT "F"

                                PERSONAL PROPERTY

1.  All built-in fixtures to the Real Property.

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