Document:

SURRENDER AND EXCHANGE AGREEMENT

        This Surrender and Exchange Agreement is entered into as of January 21,
2005, by and between Usurf America, Inc., a Nevada corporation (the "Company")
and Evergreen Venture Partners, LLC ("Purchaser").

                                   WITNESSETH:

        WHEREAS, Company and Purchaser entered into that certain Stock Purchase
Agreement dated as of February 27, 2004 (the "Purchase Agreement") pursuant to
which Company issued and sold to Purchaser and Purchaser purchased 10,000,000
shares (the "SPA Shares") of common stock of the Company, $0.001 par value per
shares (the "Common Stock") and warrants to purchase up to 12,500,000 shares of
Common Stock (the "SPA Warrants");

        WHEREAS, Company and Purchaser entered into that certain Convertible
Loan and Collateral Agreement dated as of December 23, 2003 (the "Loan
Agreement") pursuant to which the Company issued and the Purchaser obtained that
certain Note (as defined therein) together with warrants to purchase up to
10,000,000 shares of Common Stock (the "LA Warrants");

        WHEREAS, on or about April 23, 2004, Purchaser and Company terminated
the Note and in CONSIDERATION therefore, Company issued to Purchaser 5,000,000
shares of Common Stock and an additional warrant to purchase up to 14,000,000
shares of Common Stock (the "Adjustment Warrants");

        WHEREAS, effective as of August 19, 2004, Company issued in favor of
Purchaser 17,000,000 shares of Common Stock pursuant to certain price adjustment
and protection provisions of the Loan Agreement and the Loan Documents (as
defined in the Loan Agreement) including the Note (the "Adjustment Shares");

        WHEREAS, on September 19, 2003, Purchaser and Company entered into that
certain Letter Agreement pursuant to which Company issued and Purchaser obtained
a warrant to purchase up to 3,816,667 shares of Common Stock (the "Prior
Warrant");

        WHEREAS, in December, 2004, Purchaser surrendered warrants to purchase
25,000,000 shares of Common Stock represented by the 5,000,000 ($0.18 exercise
price) Common Stock Purchase Warrant and the 5,000,000 ($0.26 exercise price)
Common Stock Purchase Warrant under the Loan Agreement, the 12,500,000 Common
Stock Purchase Warrant under the SPA and 2,500,000 Common Stock Purchase
Warrants of the 3,816,667 Prior Warrants that were terminated and canceled by
the Company;

        WHEREAS, Purchaser currently holds collectively 32,000,000 shares of
Common Stock inclusive of the SPA Shares and the Adjustment Shares, and warrants
to purchase up to 15,316,667 shares of Common Stock inclusive of the 14,000,000
Adjustment Warrants and 1,316,667 of the Prior Warrants;

        WHEREAS, Company wishes to reduce its issued and outstanding shares of
Common Stock and reduce its outstanding securities convertible into or
exchangeable for shares of Common Stock;

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        WHEREAS, Purchaser has agreed in exchange for a promissory note in the
principal amount of $750,000 as described herein to surrender to the Company
certain of the shares of Common Stock it now owns and warrants it now holds, and
to terminate fully and completely each and every Loan Document and the Purchase
Agreement; and

        WHEREAS, Company wishes to issue the promissory note in exchange for the
surrender of the Common Stock and Warrants by the Purchaser, and in exchange for
the full and final termination of the Loan Agreement, the Loan Documents and the
Purchase Agreement.

        THEREFORE, in consideration of the mutual covenants contained herein and
other good and valuable consideration, the receipt and sufficiency of which is
hereby acknowledged, Company and Purchaser (each a "party" and together the
"parties") hereby agree as follows:

I.       DEFINITIONS

        Whenever used in this Agreement, the following terms shall have the
meanings set forth below, including the exhibit hereto or amendments hereof.

        (a) "Agreement" shall mean this Surrender and Exchange Agreement and all
exhibits hereto or amendments hereof.

        (b) "Securities Act" shall mean the Securities Act of 1933, as amended,
and includes the rules and regulations of the Securities and Exchange Commission
("SEC") promulgated thereunder, as such shall then be in effect.

        Any term used herein to which a special meaning has been ascribed shall
be construed in accordance with either (1) the context in which such term is
used, or (2) the definition provided for such terms in the place in this
Agreement at which such term is first used. Any capitalized term used herein but
not defined herein shall have the meaning ascribed to such terms in the
referenced agreement or document.

II.      DISCLOSURES

         Purchaser hereby acknowledges that it has examined, or has had the
opportunity to examine, all of Company's periodic filings made with the SEC
pursuant to the Securities Exchange Act of 1934. Further, Purchaser hereby
acknowledges that it has had the opportunity to ask questions of, and receive
answers from, the officers of Company regarding the periodic filings of Company
and otherwise investigate the matters contained therein.

III.     SURRENDER AND EXCHANGE; TERMINATION

        (a) Purchaser hereby surrenders to Company 17,000,000 shares of the
Common Stock now owned by Purchaser, represented by stock certificates number
1648 (the "Surrendered Shares"). Company accepts such Surrendered Shares and
such Surrendered Shares shall be immediately deemed canceled. Company shall
instruct its transfer agent to issue to Purchaser any breakdown certificates for
shares in excess of the Surrendered Shares evidenced by the certificates
tendered by Purchaser. Such breakdown certificates shall be marked with the same
legend(s) as the original surrendered certificates.

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        (b) Purchaser hereby surrenders to Company the 14,000,000 Adjustment
Warrants and 1,316,667 Prior Warrants representing all of the outstanding SPA
Warrants, LA Warrants and the Prior Warrants. Company accepts such Surrendered
Warrants and such Surrendered Warrants shall be immediately deemed canceled.

        (c) Purchaser hereby terminates, waives and abandons and any all rights
or privileges arising under and inuring to Purchaser under the Loan Agreement
and each and every Loan Document and under the Purchase Agreement, and releases
and discharges Company form its obligations and duties under such agreements
(the "Terminated Agreements") save and except for Company's obligations under
Article V of the Purchase Agreement with respect to the registration of the SPA
Shares under the Company's next Registration Statement (as defined therein).

        (d) In consideration of the actions and agreements set forth in
paragraphs (a), (b) and (c) of this Article III, Company hereby issues to
Purchaser, and Purchaser hereby accepts, the promissory note in the form of that
attached hereto as Exhibit A (the "Exchange Note")

         (e) The Exchange Note is issued to Purchaser subject to all of the
terms and conditions set forth herein.

IV.      REPRESENTATIONS AND WARRANTIES OF THE COMPANY

        Company represents and warrants to Purchaser:

        (a) Organization and Corporate Authority. Company is a corporation duly
organized, validly existing and in good standing under the laws of the State of
Nevada and is qualified to do business as a foreign corporation in all
jurisdictions where the ownership of property or maintenance of an office would
require qualification. Company has all requisite corporate power and authority,
governmental permits, consents, authorizations, registrations, licenses and
memberships necessary to own its property and to carry on its business in the
places where such properties are now owned and operated or such business is
being conducted.

        (b) Authorization. All corporate action on the part of Company and its
officers, directors and shareholders necessary for the authorization, execution
and delivery of this Agreement, for the performance of Company's obligations
hereunder and for the issuance and delivery of the Exchange Note has been taken.
This Agreement, when executed and delivered, shall constitute a legal, valid and
binding obligation of Company.

V.       REPRESENTATIONS AND WARRANTIES OF PURCHASER

         Purchaser represents and warrants to Company:

        (a) Purchaser has the authority to enter into, and perform under, this
Agreement.

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        (b) Purchaser represents and warrants that it is an "accredited
investor" within the meaning of that term as used in Rule 501 of Regulation D of
the Rules and Regulations of the SEC of the Securities Act and is capable,
through experience and financial strength, to make and understand an investment
decision leading to the purchase of the exchange of the Surrendered Stock and
the Surrendered Warrants and the issuance of the Exchange Note therefore as
contemplated herein.

VI.      MISCELLANEOUS

        (a) Arbitration. In the event of a dispute between the parties that
arises out of this Agreement, the parties agree to submit such dispute to
arbitration before the American Arbitration Association (the "Association") in
Colorado Springs, Colorado, in accordance with the then-current rules of the
Association; the award rendered by the arbitrator(s) shall be binding and a
judgment may be obtained on any such award in any court of competent
jurisdiction. It is expressly agreed that the arbitrator(s), as part of any
award, may award attorneys fees to the prevailing party.

        (b) Governing Law. This Agreement shall be deemed to be a contract made
under, governed by and construed in accordance with the substantive laws of the
State of Colorado.

        (c) Counterparts. This Agreement may be executed simultaneously in
counterparts, each of which when so executed and delivered shall be taken to be
an original; but such counterparts shall together constitute but one and the
same documents.

        (d) Successors and Assigns. The provisions of this Agreement shall inure
to the benefit of, and be binding upon, the successors, assigns heirs and
administrators of the parties hereto.

        (e) Entire Agreement. This Surrender and Exchange Agreement, along with
any other document delivered pursuant hereto constitute the full and entire
understanding and agreement between the parties with regard to the subject
hereof.

         ACCORDINGLY, the parties have signed this Surrender and Exchange
Agreement as of the day and year first above written.

USURF AMERICA, INC.                          EVERGREEN VENTURE PARTNERS, LLC

By:  Douglas O. McKinnon                     By:/s/ Greg Adalian
     -------------------                        -------------------------------
     Douglas O. McKinnon                         Name: Greg Adalian
     President and CEO                           Title: Manager

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                                    EXHIBIT A

                                  FORM OF NOTE

                                       5PROMISSORY NOTE

                                JANUARY 31, 2005

                                   $750,000.00

         THIS PROMISSORY NOTE is issued by Usurf America, Inc., a Nevada
corporation, having a principal place of business at 390 Interlocken Crescent,
Suite 900, Broomfield, Colorado 80021, (the "Company"), in favor of Holder (as
hereinafter defined).

         FOR VALUE RECEIVED, the Company promises to pay to Evergreen Venture
Partners, LLC or its registered assigns (the "Holder"), the principal sum of
$750,000.00 on July 1, 2006 (the "Maturity Date"). The Company may from time to
time prepay any portion of the principal amount of this Promissory Note without
the prior written consent of the Holder and without premium or penalty.
Notwithstanding the foregoing, this Promissory Note shall terminate and all
obligations of the Company to Holder herein shall terminate immediately upon the
occurrence of the Equity Condition.

         This Promissory Note is subject to the following additional provisions:

         Section 1.        Events of Default.

                  a) "Event of Default", wherever used herein, means any one of
         the following events (whatever the reason and whether it shall be
         voluntary or involuntary or effected by operation of law or pursuant to
         any judgment, decree or order of any court, or any order, rule or
         regulation of any administrative or governmental body):

                           i) any default in the payment of the principal of
                  this Promissory Note, which default is not cured or waived
                  within 10 days;

                           ii) any representation or warranty made in the
                  Agreement shall be untrue or incorrect in any material respect
                  as of the date when made or deemed made; or

                           iii) the Company or any of its subsidiaries shall
                  commence, or there shall be commenced against the Company or
                  any such subsidiary a case under any applicable bankruptcy or
                  insolvency laws as now or hereafter in effect or any successor
                  thereto, or the Company or any subsidiary commences any other
                  proceeding under any reorganization, arrangement, adjustment
                  of debt, relief of debtors, dissolution, insolvency or
                  liquidation or similar law of any jurisdiction whether now or
                  hereafter in effect relating to the Company or any subsidiary
                  thereof or there is commenced against the Company or any
                  subsidiary thereof any such bankruptcy, insolvency or other

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                  proceeding which remains undismissed for a period of 60 days;
                  or the Company or any subsidiary thereof is adjudicated
                  insolvent or bankrupt; or any order of relief or other order
                  approving any such case or proceeding is entered; or the
                  Company or any subsidiary thereof suffers any appointment of
                  any custodian or the like for it or any substantial part of
                  its property which continues undischarged or unstayed for a
                  period of 60 days; or the Company or any subsidiary thereof
                  makes a general assignment for the benefit of creditors; or
                  the Company shall fail to pay, or shall state that it is
                  unable to pay, or shall be unable to pay, its debts generally
                  as they become due; or the Company or any subsidiary thereof
                  shall call a meeting of its creditors with a view to arranging
                  a composition, adjustment or restructuring of its debts; or
                  the Company or any subsidiary thereof shall by any act or
                  failure to act expressly indicate its consent to, approval of
                  or acquiescence in any of the foregoing; or any corporate or
                  other action is taken by the Company or any subsidiary thereof
                  for the purpose of effecting any of the foregoing.

                  b) If any Event of Default occurs, the full principal amount
         of this Promissory shall become, at the Holder's election, immediately
         due and payable.

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         Section 2. Definitions. All capitalized terms used herein but not
defined herein shall the meanings ascribed to such terms in the Surrender and
Exchange Agreement of even date herewith between Holder and the Company (the
"Agreement"). The following terms shall have the following meanings:

                  a) "Common Stock" means the common stock, $.0001 par value per
         share, of the Company and stock of any other class into which such
         shares may hereafter have been reclassified or changed.

                  b) "Equity Condition" shall mean, (i) the Common Stock is
         trading uninterrupted on the Principal Market and (ii) the price at
         which the Common Stock is trading on the Principal Market during any
         consecutive (uninterrupted) thirty calendar day period is not below
         $0.21 per share.

                  c) "Person" means a corporation, an association, a
         partnership, organization, a business, an individual, a government or
         political subdivision thereof or a governmental agency.

                  d) "Principal Market" means the Over the Counter Electronic
         Bulletin Board (or any successor market) where the Common Stock of the
         Company is traded as of the date hereof.

      Section 3. Except as expressly provided herein, no provision of this
Promissory Note shall alter or impair the obligation of the Company, which is
absolute and unconditional, to pay the principal of this Promissory Note as
herein prescribed. This Promissory Note is a direct debt obligation of the
Company.

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      Section 4. If this Promissory Note shall be mutilated, lost, stolen or
destroyed, the Company shall execute and deliver, in exchange and substitution
for and upon cancellation of a mutilated Promissory Note, or in lieu of or in
substitution for a lost, stolen or destroyed Promissory Note, a new Promissory
Note for the principal amount of this Promissory Note but only upon receipt of
evidence of such loss, theft or destruction of such Promissory Note, and of the
ownership hereof, and indemnity, if requested, all reasonably satisfactory to
the Company.

      Section 5. In the event of a dispute between the parties that arises out
of this Promissory Note or the Agreement, the parties agree to submit such
dispute to arbitration before the American Arbitration Association (the
"Association") in Denver, Colorado, in accordance with the then-current rules of
the Association; the award rendered by the arbitrator(s) shall be binding and a
judgment may be obtained on any such award in any court of competent
jurisdiction. It is expressly agreed that the arbitrator(s), as part of any
award, may award attorneys fees to the prevailing party. This Promissory Note
shall be deemed to be a contract made under, governed by and construed in
accordance with the substantive laws of the State of Colorado.

      Section 6. Any waiver by the Company or the Holder of a breach of any
provision of this Promissory Note shall not operate as or be construed to be a
waiver of any other breach of such provision or of any breach of any other
provision of this Promissory Note. The failure of the Company or the Holder to
insist upon strict adherence to any term of this Promissory Note on one or more
occasions shall not be considered a waiver or deprive that party of the right
thereafter to insist upon strict adherence to that term or any other term of
this Promissory Note. Any waiver must be in writing.

      Section 7. If any provision of this Promissory Note is invalid, illegal or
unenforceable, the balance of this Promissory Note shall remain in effect, and
if any provision is inapplicable to any person or circumstance, it shall
nevertheless remain applicable to all other persons and circumstances.

      Section 8. Whenever any payment or other obligation hereunder shall be due
on a day other than a business day, such payment shall be made on the next
succeeding business day.

      Section 9. This Promissory Note may not be assigned, conveyed, pledged or
transferred by Holder absent the prior written consent of Company. The terms and
conditions of this Promissory Note shall be binding upon the successors and
assigns of the Holder and the Company, as the case may be.

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         IN WITNESS WHEREOF, the Company has caused this Promissory Note to be
duly executed by a duly authorized officer as of the date first above indicated.

                               USURF AMERICA, INC.

                               By: /s/ Douglas O. McKinnon
                                   ----------------------------------------
                                   Name: Douglas O. McKinnon
                                   Title:   President  & Chief Executive Officer

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