Document:

EXHIBIT 10.02

                     MORTGAGE ASSISTANCE CENTER CORPORATION

                            SERIES A PREFERRED STOCK

                           INVESTORS' RIGHTS AGREEMENT

                                NOVEMBER 30, 2006

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                                TABLE OF CONTENTS

REGISTRATION RIGHTS............................................................1

         1.1      Registration Rights..........................................1
         1.2      Piggy-Back Registration......................................2
         1.3      Registration Expenses........................................3
         1.4      Form S-3 Registration........................................3
         1.5      Registration Procedures......................................3
         1.6      Indemnification..............................................4
         1.7      Information by Holder........................................6
         1.8      Limitations on Subsequent Registration Rights................6
         1.9      Rule 144 Reporting...........................................6
         1.10     Allocation of Registration Opportunities.....................7
         1.11     Delay of Registration........................................7
         1.12     Limitations on Registration..................................8
         1.13     Market Stand-Off.............................................8
         1.14     Legend.......................................................8

COMPANY COVENANTS..............................................................9

         2.1      Financial Information........................................9
         2.2      Inspection Rights............................................9
         2.3      Board of Directors..........................................10

MISCELLANEOUS.................................................................10

         3.1      Certain Definitions.........................................10
         3.2      Amendment...................................................11
         3.3      Notices.....................................................11
         3.4      Governing Law...............................................12
         3.5      Successors and Assigns......................................12
         3.6      Entire Agreement............................................13
         3.7      Delays or Omissions.........................................13
         3.8      Severability................................................13
         3.9      Titles and Subtitles........................................13
         3.10     Construction................................................13
         3.11     Counterparts................................................13
         3.12     Facsimile Execution and Delivery............................13
         3.13     Further Assurances..........................................14
         3.14     Several Rights and Obligations..............................14
         3.15     Termination.................................................14

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                     MORTGAGE ASSISTANCE CENTER CORPORATION
                            SERIES A PREFERRED STOCK
                           INVESTORS' RIGHTS AGREEMENT

         This  SERIES  A  PREFERRED  STOCK  INVESTORS'  RIGHTS  AGREEMENT  (this
"Agreement"), dated November 30, 2006 (the "Effective Date"), is executed by and
among  Mortgage  Assistance  Center  Corporation,  a  Florida  corporation  (the
"Company"), and the undersigned investors (the "Investors").

                                    RECITALS

         WHEREAS,  the  Investors  are parties to the Series A  Preferred  Stock
Purchase Agreement, dated as of the Effective Date, by and among the Company and
the  Investors  (the  "Purchase  Agreement")  pursuant  to which such  Investors
purchased shares of the Company's Series A Preferred Stock, par value $0.001 per
share (the "Series A Preferred  Stock"),  and warrants to purchase shares of the
Company's Common Stock, par value $0.001 per share (the "Common Stock",  and the
shares of Common Stock  underlying  the warrants  issued in connection  with the
Purchase  Agreement  and  the  Note  (defined  below)  are  referred  to as  the
"Shares");

         WHEREAS,  a certain Investor has advanced funds to the Company pursuant
to certain  Promissory Notes dated August 10, 2006 and September 14, 2006 in the
aggregate  principal  amount of  $200,000  (collectively,  the  "Note"),  and in
connection  therewith was granted a warrant to purchase  shares of the Company's
Common Stock; and

         WHEREAS,  certain of the Company's and the Investors' obligations under
the  Purchase  Agreement  are  conditioned  on the  Company  and  the  Investors
executing and delivering this Agreement.

                                    AGREEMENT

         In consideration of the mutual promises and covenants set forth in this
Agreement and the Purchase Agreement, the parties agree as follows:

                                    SECTION 1

                               REGISTRATION RIGHTS
1.1      Registration Rights

         The  Company  shall  file  a   registration   statement   covering  the
Registrable  Securities  and  shall  cause  such  registration  statement  to be
effective  within  eighteen  (18) months after the  Effective  Date (the "Filing
Period").

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         1.2 Piggy-Back Registration (a) In the event the Registrable Securities
have not  otherwise  been  registered  in  accordance  with  Section 1.1, if the
Company decides at any time to register any of the Company's  securities  either
for the  Company's  own account or the  account of a security  holder or holders
exercising their respective demand  registration rights or otherwise (other than
pursuant  to Section 1.1 or Section  1.4),  other than a  registration  relating
solely to employee benefit plans,  the offer and sale of debt  securities,  or a
corporate  reorganization  or other  transaction  on Form S-4 (or any  successor
form), then the Company will:

                  (i) promptly give to each Holder written notice thereof; and

                  (ii) use its best efforts to include in such registration (and
         any  related  qualification  under  blue sky  securities  laws or other
         compliance),  except as set forth in Section 1.2(b), and include in any
         underwriting involved therein, all the Registrable Securities specified
         in a written request or requests made by any Holder and received by the
         Company  within thirty (30) days after  written  notice is delivered by
         the Company. Such request by a Holder may specify all or a part of such
         Holder's Registrable Securities. If a Holder decides not to include all
         of its Registrable  Securities in any registration statement thereafter
         filed by the Company,  then such Holder shall nevertheless  continue to
         have the right to  include  any of its  Registrable  Securities  in any
         subsequent  registration statement or registration statements as may be
         filed by the Company with respect to offerings of its  securities,  all
         upon the terms and conditions set forth herein.

         (b) If the  registration  for which the Company  gives  notice is for a
registered public offering  involving an underwriting,  then the Company will so
advise the Holders as a part of the  written  notice  given  pursuant to Section
1.2(a)(i).  In such event,  any Holder's right to registration  pursuant to this
Section  1.2  will be  conditioned  upon  such  Holder's  participation  in such
underwriting  and the inclusion of such Holder's  Registrable  Securities in the
underwriting to the extent provided herein.  All Holders proposing to distribute
their Registrable  Securities  through such underwriting will (together with the
Company and the other holders of Company securities with registration  rights to
participate therein) enter into an underwriting agreement in customary form with
the  representative  of the underwriter or underwriters  selected by the Company
and reasonably  acceptable to a majority in interest of the Holders' Registrable
Securities included in such underwriting.

         (c)  Notwithstanding  any other  provision  of this Section 1.2, if the
underwriters'  representative  advises  the  Company in writing  that  marketing
factors  require a limitation on the number of shares to be  underwritten,  then
the  underwriters'  representative  may  (subject to the  limitations  set forth
below)  limit the  number of  Registrable  Securities  to be  included  in,  the
registration  and  underwriting,  but  in no  event  shall  (i)  the  amount  of
securities of the selling Holders included in the offering be reduced unless the
securities of all other selling stockholders  included in the offering are first
excluded  entirely,  or (ii) the amount of  securities  of the  selling  Holders
included in the  offering be reduced  below  twenty  percent  (20%) of the total
amount of  securities  included in such  offering,  unless such  offering is the
initial public offering of the Company's  securities,  in which case the selling
Holders may be excluded entirely if the underwriter's  representative  makes the
determination above and if the securities of all other selling  stockholders are

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first  excluded  entirely.  The Company will so advise all Holders of securities
requesting  registration,  and the  number  of  shares  of  securities  that are
entitled to be included in the registration and  underwriting  will,  subject to
the  immediately  preceding  sentence,  be  allocated  first to the  Company for
securities  being sold for the Company's own account and thereafter as set forth
in  Section  1.10.  If any  Person  does  not  agree  to the  terms  of any such
underwriting, then such Person will be excluded from the underwriting by written
notice from the Company or the underwriter.  Any Registrable Securities or other
securities  excluded or withdrawn from such  underwriting will be withdrawn from
such registration. To facilitate the allocation of shares in accordance with the
foregoing provisions,  the Company or the underwriter(s) may round the number of
shares allocated to any Holder to the nearest 100 shares.

         (d) If shares are so withdrawn from the  registration and if the number
of shares of  Registrable  Securities  to be included in such  registration  was
previously reduced as a result of marketing factors, then the Company will offer
to all  Persons  who have  retained  the  right  to  include  securities  in the
registration the right to include  additional  securities in the registration in
an aggregate amount equal to the number of shares so withdrawn, with such shares
to be allocated among the Persons requesting  additional inclusion in accordance
with Section 1.10.

         1.3 Registration Expenses

         All Registration Expenses incurred in connection with any registration,
qualification or compliance pursuant to Section 1.1, 1.2 or 1.4 will be borne by
the Company provided, however, that the Company shall not be required to pay for
any expenses of any registration proceeding begun pursuant to Section 1.4 if the
registration request is subsequently  withdrawn at the request of the Holders of
a majority of the  Registrable  Securities to be  registered  (in which case all
selling  Holders  shall  bear such  expenses  pro rata  based upon the number of
Registrable Securities that were to be included in the withdrawn registration).

         1.4 Form S-3 Registration

         To the  extent the  Company  is not  otherwise  already  eligible,  the
Company  will use its best efforts to qualify for  registration  on Form S-3 (or
any successor form). After the Company has qualified for the use of Form S-3, in
addition to the rights contained in the foregoing  provisions of this Section 1,
the Company will effect as soon as  practicable  a  registration  on Form S-3 if
requested by one or more Holders who hold in the  aggregate at least ten percent
(10%) of the Registrable Securities, which registration will result in aggregate
proceeds to the Company, net of Selling Expenses, of at least $1,000,000.

         1.5 Registration Procedures

         In the case of each  registration  effected by the Company  pursuant to
this Section 1, the Company  will keep each Holder  advised in writing as to the
initiation  of  each  registration  and as to  the  completion  thereof.  At the
Company's expense, the Company will use its best efforts to:

         (a) keep such registration effective for a period of one hundred twenty
(120)  days or until the  Holder or  Holders  have  completed  the  distribution
described in the  registration  statement  relating  thereto,  whichever  occurs
first;

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         (b)  prepare  and  file  with  the  Commission   such   amendments  and
supplements to such registration statement and the prospectus used in connection
with  such  registration  statement  as may be  necessary  to  comply  with  the
provisions  of  the  Securities  Act  with  respect  to the  disposition  of all
securities covered by such registration statement;

         (c)  furnish  such  number  of  prospectuses,   including   preliminary
prospectuses,  and other documents incident thereto,  including any amendment of
or supplement to the  prospectus,  as a Holder from time to time may  reasonably
request;

         (d) cause all such Registrable  Securities  registered pursuant to this
Agreement to be listed on each securities  exchange on which similar  securities
issued by the Company are then listed;

(e) enter into and
perform its obligations under any underwriting agreement to effect the offer and
sale of Registrable Securities;

         (f) register and qualify the  securities  covered by such  registration
statement   under  such  other   securities  laws  or  blue  sky  laws  of  such
jurisdictions as will be reasonably requested by the Holders;  provided that the
Company will not be required in connection  therewith or as a condition  thereto
to qualify to do business or to file a general  consent to service of process in
any such states or jurisdictions;

         (g) notify each Holder  covered by such  registration  statement at any
time when a prospectus  relating  thereto is required to be delivered  under the
Securities Act of the happening of any event as a result of which the prospectus
included in such registration  statement,  as then in effect, includes an untrue
statement of a material  fact or omits to state a material  fact  required to be
stated  therein or necessary to make the  statements  therein not  misleading in
light of the circumstances then existing; and

         (h)  provide  a  transfer  agent  and  registrar  for  all  Registrable
Securities  registered  hereunder  and a CUSIP  number for all such  Registrable
Securities, in each case not later than the effect date of such registration.

         1.6 Indemnification

         (a) The Company will  indemnify,  defend and hold harmless each Holder,
its officers,  directors,  stockholders,  partners, members, employees,  agents,
legal  counsel,   accountants  and  other   representatives,   and  each  Person
controlling  such Holder within the meaning of Section 15 of the Securities Act,
and each  underwriter  and each Person who controls any  underwriter  within the
meaning  of Section  15 of the  Securities  Act,  from and  against  any and all
losses, claims, damages, liabilities,  obligations, fines, penalties, judgments,
settlements,  costs, expenses and disbursements (including,  without limitation,
attorneys'  fees and  expenses),  joint or several  (or any  action,  grievance,
hearing, investigation,  proceeding or suit with respect thereto) (collectively,
"Losses") arising out of or based on (i) any untrue statement (or alleged untrue
statement)  of  a  material  fact  contained  in  any  registration   statement,
prospectus,  offering circular or other document,  (ii) any omission (or alleged
omission)  to state  therein a material  fact  required to be stated  therein or
necessary to make the statements therein not misleading,  or (iii) any violation
(or alleged  violation) by the Company of the Securities  Act, the Exchange Act,

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any state securities or blue sky law, or any rule or regulation under any of the
foregoing  applicable to the Company.  The Company will promptly  reimburse each
such  indemnified  Person for any Losses as they are incurred.  The Company will
not be liable for Losses to the extent  that such Losses are based on any untrue
statement or omission based upon written information furnished to the Company by
a  Holder  or  underwriter  and  stated  to be  specifically  for  use  in  such
registration  statement,  prospectus,  offering circular or other document.  The
obligations  of the Company under this Section  1.6(a) will not apply to amounts
paid in settlement of any such Losses if such settlement is effected without the
Company's consent (which consent will not be unreasonably withheld).

         (b) Each Holder will, if Registrable Securities held by such Holder are
included in the  securities  as to which such  registration  is being  effected,
indemnify,  defend and hold  harmless  the  Company,  its  officers,  directors,
stockholders,  partners, members, employees,  agents, legal counsel, accountants
and other  representatives,  and each Person  controlling the Company within the
meaning of Section  15 of the  Securities  Act,  and each  underwriter  and each
Person who  controls  any  underwriter  within the  meaning of Section 15 of the
Securities  Act, from and against any and all Losses  arising out of or based on
(i) any untrue  statement  (or  alleged  untrue  statement)  of a material  fact
contained in any registration statement,  prospectus, offering circular or other
document, or (ii) any omission (or alleged omission) to state therein a material
fact required to be stated therein or necessary to make the  statements  therein
not  misleading.  The  applicable  Holder  will  promptly  reimburse  each  such
indemnified  Person for any Losses as they are incurred.  The obligations of any
Holder under this Section  1.6(b) will apply only to the extent that such untrue
statement (or alleged  u
ntrue  statement)  or omission (or alleged  omission) is
made  in a  registration  statement,  prospectus,  offering  circular  or  other
document in reliance upon and in conformity with written  information  furnished
to the Company by such Holder and stated to be specifically for use therein. The
obligations  of any Holder under this  Section  1.6(b) will not apply to amounts
paid in  settlement of any such Losses if such  settlement  is effected  without
such Holder's consent (which consent will not be unreasonably  withheld).  In no
event will any  obligations of a Holder under this Section 1.6(b) exceed the net
proceeds received by such Holder from the offering as to which such registration
is being  effected,  except in the case of fraud or willful  misconduct  by such
Holder.

         (c) Each Person entitled to indemnification under this Section 1.6 (the
"Indemnified  Party")  will  give  notice  to  the  party  required  to  provide
indemnification (the "Indemnifying Party") promptly after such Indemnified Party
has actual knowledge of any claim as to which indemnity may be sought,  and will
permit  the  Indemnifying  Party to  assume  the  defense  of such  claim or any
litigation  resulting  therefrom;  provided  that  counsel for the  Indemnifying
Party,  who will conduct the defense of such claim or any  litigation  resulting
therefrom, will be approved by the Indemnified Party (whose approval will not be
unreasonably  withheld),  and the  Indemnified  Party  may  participate  in such
defense at the Indemnified  Party's own expense,  and provided  further that the
failure of any  Indemnified  Party to give  notice as  provided  herein will not
relieve the Indemnifying Party of its obligations under this Section 1.6, to the
extent such failure is not materially  prejudicial;  provided,  however, that an
Indemnified Party shall have the right to retain one separate counsel,  with the
fees and expenses to be paid by the  Indemnifying  Party, if  representation  of
such Indemnified  Party by the counsel retained by the Indemnifying  Party would
be inappropriate  due to actual or potential  differing  interests  between such
Indemnified  Party and any  other  party  represented  by such  counsel  in such
action.  No Indemnifying  Party, in the defense of any such claim or litigation,

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will, except with the consent of each Indemnified Party, consent to entry of any
judgment or enter into any settlement that does not include as an  unconditional
term thereof the giving by the claimant or plaintiff to such  Indemnified  Party
of a release  from all  liability in respect to such claim or  litigation.  Each
Indemnified Party will furnish such information regarding itself or the claim in
question as an Indemnifying  Party may reasonably request in writing and as will
be reasonably  required in connection  with defense of such claim and litigation
resulting therefrom.

         (d) If the indemnification  provided for in this Section 1.6 is held by
a court of competent jurisdiction to be unavailable to an Indemnified Party with
respect to any Losses, then the Indemnifying Party, in lieu of indemnifying such
Indemnified  Party  hereunder,  will contribute to the amount paid or payable by
such  Indemnified  Party as a result  of such  Losses in such  proportion  as is
appropriate to reflect the relative fault of the Indemnifying  Party, on the one
hand, and of the  Indemnified  Party,  on the other hand, in connection with the
statements  or  omissions  that  resulted  in such  Losses  as well as any other
relevant equitable considerations.  The relative fault of the Indemnifying Party
and of the  Indemnified  Party will be  determined  by reference to, among other
things, whether the untrue or alleged untrue statement of a material fact or the
omission  to state a  material  fact  relates  to  information  supplied  by the
Indemnifying  Party  or by the  Indemnified  Party,  and the  parties'  relative
intent,  knowledge,  access to information and opportunity to correct or prevent
such statement or omission.

         (e) The  obligations  of the Company and the Holders under this Section
1.6 shall survive the completion of any offering of Registrable Securities under
this Section 1, and shall otherwise survive the termination of this Agreement.

         1.7 Information by Holder

         It shall be a condition  precedent to the obligations of the Company to
take any action  pursuant to this  Sections 1.1, 1.2 and 1.4 with respect to the
Registrable  Securities  of any selling  Holder that such Holder will furnish to
the Company such information regarding such Holder as the Company may reasonably
request in writing and as will be  reasonably  required in  connection  with any
registration, qualification or compliance referred to in this Section 1.

         1.8 Limitations on Subsequent Registration Rights

         From and  after  the date of this  Agreement,  the  Company  will  not,
without the prior  written  consent of a majority  in  interest of the  Holders,
enter into any agreement giving any registration  rights that are on parity with
or  superior to those  granted in this  Agreement  to any holder or  prospective
holder of any Company securities.

         1.9 Rule 144 Reporting

         With a view to making  available to the Holders the benefits of certain
Commission rules and  regulations,  including Rule 144 under the Securities Act,
that may permit the sale of the  Registrable  Securities  to the public  without
registration, the Company agrees to use its best efforts to:

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         (a) make and keep  public  information  available,  as those  terms are
understood and defined in Rule 144 or any similar or analogous rule  promulgated
under the  Securities  Act, at all times after the  effective  date of the first
registration filed by the Company for an offering of the Company's securities to
the general public;

         (b) use commercially  reasonable efforts to file with the Commission in
a timely  manner all reports and other  documents  required of the Company under
the Securities Act and the Exchange Act at any time after the Company has become
subject to such reporting requirements;

         (c) so long as a Holder owns any Restricted Securities,  furnish to the
Holder promptly upon written  request (i) a written  statement by the Company as
to the Company's  compliance with the reporting  requirements of Rule 144 and of
the  Securities  Act and the Exchange  Act;  (ii) a copy of the  Company's  most
recent annual or quarterly report; and (iii) such other reports and documents as
a Holder may reasonably  request in availing  itself of any  Commission  rule or
regulation allowing such Holder to sell any its securities without registration.

         1.10 Allocation of Registration Opportunities

         If any Holders  exercise  registration  rights under Section 1.2 or 1.4
(but not Section 1.1), and all of such Holders' Registrable Securities requested
to be included in a  registration,  along with all other  securities  (including
Registrable  Securities)  of the Company  (the "Other  Shares")  requested to be
included in a registration on behalf of other selling stockholders, cannot be so
included  as a result  of  limitations  of the  aggregate  number  of  shares of
Registrable Securities and Other Shares that may be so included, then the number
of shares of the Holders' Registrable Securities that may be so included will be
allocated among the Holders pro rata on the basis of the number of shares of the
Holders'  Registrable  Securities  that would be held by such Holders,  assuming
conversion;  provided, however, that if any Holder does not request inclusion of
at least the number of shares of Registrable Securities allocated to such Holder
or selling stockholder pursuant to the foregoing  procedure,  then the remaining
portion of such Holder's  allocation will be reallocated  among those requesting
Holders whose  allocations  did not satisfy their requests pro rata on the basis
of the  number of shares of  Registrable  Securities  that would be held by such
Holders,  assuming conversion,  and this procedure will be repeated until all of
the shares of Registrable Securities that may be included in the registration on
behalf of the Holders and other selling stockholders have been so allocated. The
Company will not limit the number of any Holder's  Registrable  Securities to be
included in a registration  pursuant to this Agreement in order to include Other
Shares or, in the case of  registrations  under Section 1.4, in order to include
in such registration securities registered for the Company's own account.

         1.11 Delay of Registration

         No Holder will have any right to take any action to restrain, enjoin or
otherwise delay any  registration  as the result of any  controversy  that might
arise with respect to the interpretation or implementation of this Section 1.

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         1.12 Limitations on Registration

         The Company shall not be obligated to effect,  or to take any action to
effect,  any  registration  pursuant  to Section 1.1 if the  initiating  Holders
propose to dispose of shares of Registrable  Securities during the Filing Period
that may be  immediately  registered  on Form S-3  pursuant  to a  request  made
pursuant to Section  1.4. The Company  shall not be  obligated to effect,  or to
take any action to effect,  any registration  pursuant to Section 1.4 (i) during
the period that is thirty (30) days before the Company's  good faith estimate of
the date of filing of,  and ending on a date that is ninety  (90) days after the
effective date of, a Company-initiated registration,  provided, that the Company
is actively  employing in good faith  commercially  reasonable  efforts to cause
such  registration  statement to become  effective and the Company complies with
its obligations under Section 1.2 with respect to those  registrations;  or (ii)
if the Company has effected two registrations pursuant to Section 1.4 within the
twelve (12) month period  immediately  preceding the date of such request.

         1.13 Market Stand-Off

         Each Holder hereby agrees that, if requested in writing by the managing
underwriter  and  holders  of at least  ten  percent  (10%)  of the  Registrable
Securities  that are the subject of a registration  that includes some or all of
the shares of Common Stock owned by such Holder,  it will not, without the prior
written consent of the managing underwriter, during the period commencing on the
date of the final prospectus relating to registration by the Company for its own
behalf of shares of its Common  Stock or any other equity  securities  under the
Securities Act on a  registration  statement on Form S-1, Form S-2, or Form S-3,
and ending on the date  specified  by the Company and the  managing  underwriter
(such period not to exceed  ninety (90) days,  (i) lend;  offer;  pledge;  sell;
contract to sell;  sell any option or contract to purchase;  purchase any option
or  contract  to sell;  grant any  option,  right,  or warrant to  purchase;  or
otherwise  transfer or dispose of, directly or indirectly,  any shares of Common
Stock  or  any  securities  convertible  into  or  exercisable  or  exchangeable
(directly  or  indirectly)  for Common  Stock  (whether  such shares or any such
securities  are then owned by the  Holder or are  thereafter  acquired)  or (ii)
enter into any swap or other arrangement that transfers to another,  in whole or
in part,  any of the economic  consequences  of  ownership  of such  securities,
whether  any such  transaction  described  in clause  (i) or (ii) above is to be
settled by delivery of Common Stock or other securities,  in cash, or otherwise.
The foregoing provisions of this Section 1.13 shall not apply to the sale of any
shares to an underwriter  pursuant to an  underwriting  agreement,  and shall be
applicable  to the Holders only if all  officers,  directors,  and  stockholders
individually  owning more than five  percent (5%) of the  Company's  outstanding
Common  Stock  (after  giving  effect to  conversion  into  Common  Stock of all
outstanding Series A Preferred Stock) are subject to the same restrictions. Each
Holder further agrees to execute such agreements as may be reasonably  requested
by the  underwriters  in connection with such  registration  that are consistent
with this Section 1.13 or that are necessary to give further effect thereto.

         1.14 Legend

         In  addition  to  any  other  required  legends,  each  certificate  or
instrument  representing (i) the Series A Preferred Stock,  (ii) the Registrable
Securities,  and (iii) any other securities  issued in respect of the securities
referenced  in  clauses  (i) and (ii),  upon any stock  split,  stock  dividend,
recapitalization,  merger, consolidation,  or similar event, shall be stamped or
otherwise imprinted with a legend substantially in the following form:

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         THE SECURITIES REPRESENTED HEREBY MAY BE TRANSFERRED ONLY IN ACCORDANCE
         WITH THE TERMS OF AN INVESTORS'  RIGHTS  AGREEMENT  BETWEEN THE COMPANY
         AND THE  STOCKHOLDER,  A COPY OF WHICH IS ON FILE WITH THE SECRETARY OF
         THE COMPANY.

The Holders  consent to the Company  making a notation in its records and giving
instructions  to any transfer  agent of the  Restricted  Securities  in order to
implement the restrictions on transfer set forth in this Section 1.14.

                                    SECTION 2

                                COMPANY COVENANTS

         The Company covenants and agrees as follows:

         2.1 Financial Information

         The Company will furnish the following  reports to each Holder:  (a) as
soon as  practicable  but no later than  ninety  (90) days after the end of each
fiscal year, a consolidated  balance sheet of the Company and its  subsidiaries,
if any, as at the end of such fiscal year, and consolidated statements of income
and cash  flows of the  Company  and its  subsidiaries,  if any,  for such year,
prepared  in  accordance   with   generally   accepted   accounting   principles
consistently  applied,  certified by independent public accountants  selected by
the Company;  (b) as soon as practicable  but no later than forty-five (45) days
after the end of each calendar quarter, an unaudited  consolidated balance sheet
of the Company and its subsidiaries, if any, as of the end of each such calendar
quarter, and consolidated statements of income and cash flows of the Company and
its  subsidiaries,  if any, for such period;  (c) as soon as practicable  but no
later  than  twenty-five  (25) days  after the end of each  calendar  month,  an
unaudited  consolidated  balance sheet of the Company and its  subsidiaries,  if
any, as of the end of each such calendar month, and  consolidated  statements of
income and cash flows of the  Company  and its  subsidiaries,  if any,  for such
period;  and (d) at least  thirty (30) days before the  beginning of each fiscal
year, a projected annual budget and business plan for such fiscal year.

         2.2 Inspection Rights

         The Company  shall permit each Holder,  at such  Holder's  expense,  to
visit and inspect the Company's properties,  to examine its books of account and
records and to discuss the  Company's  affairs,  finances and accounts  with its
officers,  during  normal  business  hours with two (2) business  days'  written
notice as may be requested by such Holder.  The  provisions  of this Section 2.2

                                       9
<PAGE>

shall not be in  limitation  of any rights  which any such  Holder may have with
respect to the books and  records of the  Company  and its  subsidiaries,  or to
inspect their properties or discuss their affairs,  finances and accounts, under
the laws of the State of Florida.

         2.3 Board of Directors

         The  Company  shall  promptly  reimburse  in full each  director of the
Company  and its  subsidiaries  who is not an  employee  of the  Company  or its
subsidiaries for all of his or her reasonable out-of-pocket expenses incurred in
attending  each meeting of the Board of Directors of the Company or  subsidiary,
or any committee thereof.  In addition,  the Company shall promptly reimburse in
full each such director for all of his or her reasonable  out-of-pocket expenses
incurred in performing business of the Company or a subsidiary at the request of
the  Company  or a  subsidiary.  Unless  otherwise  determined  by the  Board of
Directors,  including  the Series A  Directors  as defined  in the  Articles  of
Amendment  of  Articles  of   Incorporation   of  the  Company  (the  "Series  A
Directors"),  during the first twelve month period  following the closing of the
Purchase  Agreement (the  "Closing"),  the Series A Directors shall each receive
compensation  of $1,000 per quarter for their  service on the Company's and each
subsidiary's  Board of Directors,  with such amount  increased to (i) $2,500 per
quarter  during the second twelve month period  following the Closing,  and (ii)
$5,000 per  quarter  for each  quarter  during  the third  twelve  month  period
following the Closing and each quarter thereafter.

                                    SECTION 3

                                  MISCELLANEOUS

         3.1 Certain Definitions

         As used in this  Agreement,  the following terms will have the meanings
set forth below:

         (a)  "Commission"  means the Securities and Exchange  Commission or any
other federal agency at the time administering the Securities Act.

         (b)  "Common  Stock"  shall have the  meaning  give to such term in the
Recitals.

         (c)  "Exchange  Act"  means the  Securities  Exchange  Act of 1934,  as
amended,  or any  successor  federal  statute,  and the  rules  and  regulations
thereunder, all as in effect from time to time.

         (d) "Holder"  means any Investor or any of such  Investor's  affiliates
who  holds  Registrable  Securities  and  any  transferee  of  such  Registrable
Securities.

         (e) "Person" means any person, entity or organization.

         (f) "Register,"  "registered,"  "registration," and derivatives thereof
refer  to a  registration  effected  by  preparing  and  filing  a  registration
statement  in  compliance  with the  Securities  Act and  applicable  rules  and
regulations thereunder,  and the declaration or ordering of the effectiveness of
such registration statement.

                                       10
<PAGE>

         (g)  "Registrable  Securities"  means issued shares of Common Stock and
shares of Common Stock issuable upon  conversion or exercise of any  convertible
securities,  warrants or options,  but does not include  shares of Common  Stock
which  have  previously  been  registered  or which have been sold to the public
either  pursuant to a  registration  statement or Rule 144 under the  Securities
Act.

         (h)  "Registration  Expenses" means all expenses  incurred in effecting
any registration pursuant to this Agreement,  including, without limitation, all
registration,  qualification,  and filing fees, printing expenses,  escrow fees,
fees and disbursements of the Company's  counsel,  fees and disbursements of one
counsel for the selling  Holders whose shares are included in such  registration
not to exceed $37,500,  blue sky fees and expenses,  stock transfer  taxes,  and
expenses  of any regular or special  audits  incident to or required by any such
registration, but will not include Selling Expenses.

         (i) "Securities  Act" means the Securities Act of 1933, as amended,  or
any successor federal statute, and the rules and regulations thereunder,  all as
in effect from time to time.

         (j) "Selling  Expenses"  means all  underwriting  discounts and selling
commissions applicable to the sale of Registrable Securities.

         3.2 Amendment

         Except as expressly provided in this Agreement,  neither this Agreement
nor any term of this Agreement may be amended, waived,  discharged or terminated
other than by a written instrument  referencing this Agreement and signed by the
Company  (after having been  approved by the Board of  Directors,  including the
Series A  Directors)  and by  Holders  holding  a  majority  of the  Registrable
Securities.

         3.3 Notices

         All notices and other  communications  required or permitted under this
Agreement will be in writing and will be mailed by registered or certified mail,
postage  prepaid,  sent  by  facsimile,  or  otherwise  delivered  by hand or by
messenger addressed:

         (k) if to an Investor,  to such address or facsimile number as shown on
the Schedule of Investors attached to the Purchase  Agreement,  or to such other
address or facsimile  number as an Investor  will have  furnished to the Company
and the other Investors, and a copy, which will not constitute notice, to:

                  Hallett & Perrin, P.C.
                  Attn:  Scot W. O'Brien
                  2001 Bryan Street, Suite 3900
                  Dallas, Texas  75201
                  Fax:  (214) 922-4144

         (l) if to any other  Holder,  to such  address or  facsimile  number as
shown in the  Company's  records,  or,  until any such  holder so  furnishes  an
address  or  facsimile  number to the  Company,  then to and at the  address  or
facsimile  number  of  the  last  Holder  for  which  the  Company  has  contact
information in its records; or

                                       11
<PAGE>

         (m) if to the Company, to:

                  Mortgage Assistance Center Corporation
                  2614 Main Street
                  Dallas, Texas  75226
                  Attention: Chief Executive Officer
                  Facsimile:

or to such other address or facsimile  number as the Company will have furnished
to the Investors, with a copy, which will not constitute notice, to:

                  With a copy to:

                  Michael Caolo & Associates
                  Attn:  Michael Caolo, Jr.
                  600 E. John Carpenter Freeway, Suite 170
                  Irving, Texas  75062
                  Fax:  (972) 717-5208

         Each  notice or other  communication  will be treated as  effective  or
having been given when delivered if delivered  personally,  or, if sent by mail,
at the  earlier of its receipt or three (3)  business  days after such notice or
other communication has been deposited in a regularly maintained  receptacle for
deposit of United States mail or, if sent by  facsimile,  upon  confirmation  of
facsimile transfer.

         3.4 Governing Law

         This Agreement will be governed in all respects by the internal laws of
the State of Texas as applied to agreements  entered into among Texas  residents
to be performed entirely within Texas, without regard to principles of conflicts
of law.

         3.5 Successors and Assigns

         This  Agreement and any and all rights,  duties and  obligations  under
this Agreement, may be assigned,  transferred,  delegated, or sublicensed by any
Investor,  provided that the Company is provided  prior  written  notice of such
assignment,  transfer,  delegation or sublicense.  Subject to the foregoing, the
provisions of this  Agreement will inure to the benefit of, and be binding upon,
the parties' successors, assigns, heirs, executors and administrators.

                                       12
<PAGE>

         3.6 Entire Agreement

         This  Agreement,  the other  Transaction  Agreements (as defined in the
Purchase  Agreement) and the schedules and exhibits thereto  constitute the full
and entire  understanding  and agreement  between the parties with regard to the
subjects hereof and thereof.

         3.7 Delays or Omissions

         Except as expressly  provided herein,  no delay or omission to exercise
any right,  power or remedy  accruing to any party upon any breach or default of
any other party under this Agreement will impair any such right, power or remedy
of such non-breaching  party, and it will not be construed to be a waiver of any
such breach or default or a waiver of any similar  breach or default  thereafter
occurring, and no waiver of any single breach or default will be deemed a waiver
of any other breach or default  occurring  before or after such single breach or
default. Any waiver, permit, consent or approval of any kind or character by any
party of any breach or default under this Agreement,  or any waiver by any party
of any provisions or conditions of this  Agreement,  must be in writing and will
be effective only to the extent specifically set forth in such writing.

         3.8 Severability

         If any provision of this Agreement becomes or is declared by a court of
competent jurisdiction to be illegal, unenforceable or void, then this Agreement
will continue in full force and effect without such  provision,  and the Parties
agree to negotiate,  in good faith, a legal and enforceable substitute provision
which most nearly reflects the Parties' intent in entering into this Agreement.

         3.9 Titles and Subtitles

         The  titles  and  subtitles   used  in  this  Agreement  are  used  for
convenience only and are not to be considered in construing or interpreting this
Agreement.

         3.10 Construction

         As  used in this  Agreement,  the  word  "including"  means  "including
without limitation" and the word "days" (unless otherwise  expressly  indicated)
refers to calendar days.

         3.11 Counterparts

         This Agreement may be executed in any number of  counterparts,  each of
which will be  enforceable  against the parties that execute such  counterparts,
and all of which together will constitute one instrument.

         3.12 Facsimile Execution and Delivery

         A facsimile or other  reproduction of this Agreement may be executed by
one or more parties,  and an executed copy of this Agreement may be delivered by
one or more  parties by  facsimile,  and such  execution  and  delivery  will be

                                       13
<PAGE>

considered valid, binding and effective for all purposes.  At the request of any
party, all parties agree to execute an original of this Agreement as well as any
facsimile or other reproduction of this Agreement.

         3.13 Further Assurances

         Each party  agrees to execute  and  deliver  all such  instruments  and
documents,  and do all such other acts and things,  as may be  necessary to more
fully effectuate the purposes and intent of this Agreement.

         3.14 Several Rights and Obligations

         Unless  otherwise  expressly  provided in this Agreement,  the Holders'
rights and obligations  under this Agreement are several rights and obligations,
not rights or obligations jointly held with any other Holder.

         3.15 Termination

         This  Agreement  will  terminate  in its  entirety and be of no further
force or effect (a)  immediately  before the  closing of a sale,  lease or other
conveyance of all or substantially all of the Company's assets,  (b) immediately
before  the  closing of an  acquisition  of the  Company  by  another  entity by
consolidation,  merger  or other  reorganization  in which  the  holders  of the
Company's   outstanding   voting  stock   immediately   before  the  acquisition
transaction  own,  immediately  after the  acquisition  transaction,  securities
representing less than fifty percent (50%) of the voting power of the Company or
other entity surviving such transaction (other than a merger effected solely for
the  purpose of changing  the  Company's  domicile  or  effected  solely for the
purpose of raising  operating  capital),  or (c) on the date that is immediately
prior  to  the  Company's  sale  of  its  Common  Stock  in  a  firm  commitment
underwritten  public  offering  pursuant to a registration  statement  under the
Securities Act, in which the net proceeds to the Company are equal to or greater
than $20,000,000 (before deduction of underwriters' commissions and expenses).

                  [Remainder of page intentionally left blank.]

                                       14
<PAGE>

         IN WITNESS WHEREOF,  the parties have executed this Agreement as of the
Effective Date.

                                   THE COMPANY:

                                   MORTGAGE ASSISTANCE CENTER CORPORATION

                                   By:__________________________________________
                                   Name:________________________________________
                                   Title:_______________________________________

                                   INVESTORS:

                                   W.C. PAYNE INVESTMENTS, LLC

                                   By:__________________________________________
                                   Name:    W.C. Payne
                                   Its:     Managing Member

                                   FAX / MACC, L.P.

                                   By:      Family Access Exchange II, L.P.
                                   Its:     General Partner

                                   By:      FAX GenPar, L.L.C.
                                   Its:     General Partner

                                   By:__________________________________________
                                   Name:    Rod Cain Jones
                                   Its:     PresidentEXHIBIT 10.03

                             STOCKHOLDERS' AGREEMENT

         THIS STOCKHOLDERS'  AGREEMENT (this "Agreement"),  dated as of November
30, 2006 (the  "Effective  Date"),  is by and among Mortgage  Assistance  Center
Corporation,  a Florida  corporation (the  "Company"),  those certain holders of
Common Stock (as  hereinafter  defined) of the Company as set forth on Exhibit A
(individually,  a "Stockholder," and collectively,  the "Stockholders") and each
of the existing Series A Preferred Stock (as hereinafter  defined) investors and
holders of warrants as set forth on Exhibit B (individually,  an "Investor," and
collectively, the "Investors").

                                    RECITALS:

         A. The Company has an authorized capitalization consisting of (i) Fifty
million  (50,000,000)  shares of common  stock,  $0.001 par value per share (the
"Common Stock"),  and (ii) Four million  (4,000,000)  shares of preferred stock,
$0.001  par  value  per  share,  including  the  designation  of  Three  million
(3,000,000)  shares  of Series A  Preferred  Stock,  $0.001  par value per share
("Series  A  Preferred   Stock"),   pursuant  to  the   Company's   Articles  of
Incorporation, as amended (collectively, the "Articles of Incorporation").

         B. The record and  beneficial  ownership of the issued and  outstanding
shares of the Common  Stock,  the Series A  Preferred  Stock and  warrants  (the
"Warrants") to purchase Common Stock (the "Warrant Shares")  (collectively,  the
"Capital  Stock") held by the  Stockholders  and the  Investors are set forth on
Exhibits A and B.

         C. The Company and the Investors are parties to the Company's  Series A
Preferred  Stock and Common Stock Warrant  Purchase  Agreement,  dated as of the
Effective  Date (the "Purchase  Agreement"),  pursuant to which the Company will
sell Series A Preferred Stock and the Warrants to the Investors.

                                   AGREEMENT:

         NOW, THEREFORE, in consideration of the mutual covenants and agreements
contained in this Agreement,  and intending to be legally bound hereby,  each of
the parties covenants and agrees as follows:

                                    ARTICLE I
                               STOCK CERTIFICATES

         The Stockholders and the Investors agree that the stock  certificate or
certificates  from  time to time  representing  their  respective  shares of the
Company's  Capital Stock shall be registered in the name of the Stockholders and
the  Investors  and shall bear,  in addition to any other legend  required to be
placed thereon, a conspicuous legend substantially stating the following:

                                       1
<PAGE>

         THE SHARES  REPRESENTED  HEREBY ARE SUBJECT TO A STOCKHOLDERS'
         AGREEMENT  DATED AS OF NOVEMBER 30, 2006, AS MAY BE AMENDED OR
         RESTATED,  AMONG THE  COMPANY  AND  CERTAIN  STOCKHOLDERS  AND
         INVESTORS  OF  THE  COMPANY.  A  COPY  OF  SUCH  STOCKHOLDERS'
         AGREEMENT IS AVAILABLE  FOR  INSPECTION  AT THE OFFICES OF THE
         COMPANY AND MAY BE REVIEWED UPON REQUEST.

Upon execution and delivery of this Agreement,  the Stockholders agree to return
to the Secretary of the Company any stock certificate or certificates previously
delivered to it so that such legend shall be placed thereon.  The Company agrees
that it shall not remove,  and shall not permit to be removed,  such legend from
any  certificate,  and the Company shall place or cause to be placed such legend
on any new certificate issued.

                                   ARTICLE II
                        TRANSFER RIGHTS AND RESTRICTIONS

         Section 2.1 General  Restriction  on Common Stock.  Except as otherwise
expressly  permitted  by this  Agreement,  none of the  Stockholders  may  sell,
exchange,   give,  encumber,   pledge,   hypothecate  or  otherwise  dispose  of
("Transfer"),   either  voluntarily,   involuntarily  or  by  operation  of  law
(including  any  Transfer  pursuant to  equitable  distribution  proceedings  or
pursuant to a divorce decree) any of the Common Stock held by such Stockholders,
or any rights or interest appertaining  thereto,  whether now owned or hereafter
acquired.

         Section 2.2 Transfers of Preferred  Stock.  Subject to the requirements
of Section 2.3(i) below,  the Investors may freely  Transfer any of the Series A
Preferred Stock held by such Investors,  or any rights or interest  appertaining
thereto,  whether now owned or  hereafter  acquired,  upon  receiving  the prior
written approval of the Company, such approval not to be unreasonably withheld.

         Section 2.3 Transfer  Requirements.  A Stockholder  may Transfer Common
Stock  under and as  permitted  by this  Section  2.3,  but not  otherwise.  For
purposes of this Section 2.3, an "Investor"  who exercises his or its Warrant(s)
shall be deemed a  "Stockholder"  with  respect to the  Warrant  Shares upon the
exercise of such Warrant and issuance of the Warrant Shares.

                  (a) First  Offer  Rights.  If a  Stockholder  shall  desire to
         Transfer any shares of Common Stock held by him or it, such Stockholder
         (the  "Selling  Stockholder")  shall first offer such Common Stock (the
         "Offered Stock") to the Investors and then to the Company in accordance
         with the provisions of this Section 2.3 (the "First Offer Right").

                  (b)  Notice.  The  Selling  Stockholder  shall  give a written
         notice (the "Offer  Notice") to each of the  Investors  and the Company
         setting forth (i) the class or series,  and number of shares, of Common
         Stock proposed to be Transferred (the "Offered Stock"),  (ii) the terms
         and conditions (the "Offer Terms"),  including the proposed sale price,
         upon which the Selling  Stockholder  proposes  to Transfer  the Offered
         Stock, and (iii) the name of the proposed transferee.

                                       2
<PAGE>

                  (c)  Option to the  Investors.  The  Investors  shall have the
         exclusive right during the period of twenty (20) days following receipt
         of such  Offer  Notice  (the  "Investor  Refusal  Period")  to elect to
         collectively  purchase any or all of the Offered  Stock  proposed to be
         sold in accordance with the Offer Terms;  provided,  however,  that, an
         election  by the  Investors  to  purchase  less than all of the Offered
         Stock  shall not be  effective  unless the option in Section  2.3(d) is
         exercised as to all of the Offered Stock not elected to be purchased by
         the Investors  under this Section  2.3(c).  In the event that more than
         one Investor wishes to purchase the Offered Stock to be sold, the right
         to purchase  shall be allocated (i) first among such Investors who hold
         shares of Series A Preferred  Stock in proportion  to their  respective
         ownership  of Series A  Preferred  Stock,  then (ii) to the  extent the
         Investors  who hold Series A Preferred  Stock do not acquire all of the
         Offered  Stock,  or if there are no shares of Series A Preferred  Stock
         outstanding at such time,  among such other  Investors in proportion to
         their  ownership of Common Stock  Equivalent  Shares.  The term "Common
         Stock  Equivalent  Shares" held by any Investor  shall be all shares of
         the  Company's  Common  Stock held by such  Investor  and all shares of
         Common Stock issuable upon conversion or exchange of any convertible or
         exchangeable  security  held by such Investor or issuable upon exercise
         of any option,  warrant, or other right held by such Investor,  in each
         case whether or not such security,  option, warrant, or right is by its
         terms then convertible,  exchangeable,  or exercisable. Any election by
         an  Investor  to  purchase  Offered  Stock  shall be binding  upon such
         Investor  and may not be withdrawn  without the written  consent of the
         Company and the Selling Stockholder.

                  (d) Option to the  Company.  If the  Investors do not exercise
         their right to purchase  all of the Offered  Stock  proposed to be sold
         pursuant  to Section  2.3(c),  the  Investors  shall give notice to the
         Company of such fact during the twenty (20) day period  provided for in
         Section 2.3(c).  The Company shall then have the exclusive right during
         the period of twenty (20) days  following  receipt of such Offer Notice
         (the "Company  Refusal Period") to elect to purchase all of the Offered
         Stock  proposed to be sold and not purchased by the Investors  pursuant
         to  Section  2.3(c)  in  accordance  with the Offer  Terms and  Section
         2.3(g).

                  (e) Co-Sale Right

                           (i) To the extent that neither the  Investors nor the
                  Company  exercise their  respective First Offer Rights in full
                  with  respect  to the  Offered  Stock  under  Sections  2.3(a)
                  through (d) above,  then each Investor (a "Co-Sale  Investor")
                  that notifies the Selling  Stockholder  in writing  within ten
                  (10) days after the  expiration of the Company  Refusal Period
                  will  have  the   right  to   participate   in  such   Selling
                  Stockholder's proposed sale of Offered Stock on the same terms
                  and  conditions  as the Offer  Terms  (the  "Co-Sale  Right").
                  Co-Sale  Investors  shall  have  the  right to  include  their
                  outstanding  shares of Series A Preferred  Stock in exercising
                  their Co-Sale Right pursuant to this Section  2.3(e)(i) to the
                  extent that the Offered Stock,  when aggregated with all other
                  sales  of  Offered   Stock   pursuant  to  this  Section  2.3,
                  represents  at least ten  percent  (10%) of the  total  Common
                  Stock outstanding as of the date of such sale.

                                       3
<PAGE>

                           (ii) A Co-Sale  Investor  may include in the proposed
                  transfer  Capital Stock held by such Investor (A) with respect
                  to Series A Preferred  Stock, all shares of Series A Preferred
                  Stock held by such Co-Sale  Investor,  and (B) with respect to
                  all other Capital  Stock other than Series A Preferred  Stock,
                  in an amount not to exceed the product obtained by multiplying
                  (i) the aggregate  number of shares of Offered Stock by (ii) a
                  fraction,  the  numerator  of which is the number of shares of
                  Common Stock Equivalent  Shares owned by such Co-Sale Investor
                  immediately  before  consummation of the proposed Transfer and
                  the  denominator  of which  is,  in the  aggregate,  the total
                  number of shares of Common  Stock  Equivalent  Shares owned by
                  all  Investors  electing  to  exercise  their  Co-Sale  Rights
                  immediately prior to the consummation of the proposed Transfer
                  and the total number of Offered Stock that represents  Capital
                  Stock owned by the Selling  Stockholder  immediately  prior to
                  the consummation of the proposed Transfer.

                           (iii)   A   Co-Sale   Investor   shall   effect   its
                  participation  in the proposed  Transfer by  delivering to the
                  Selling  Stockholder,  no later  than ten  (10)  days  after a
                  Co-Sale Investor's exercise of its Co-Sale Rights, one or more
                  stock   certificates,   properly   endorsed  for  transfer  or
                  accompanied  by  executed  stock  powers  to  the  prospective
                  transferee, representing the number of shares of Capital Stock
                  that a Co-Sale  Investor  elects to  include  in the  proposed
                  Transfer.

                           (iv)  Except  for   representations   regarding   its
                  ownership of the Capital Stock it requests to sell pursuant to
                  this Section 2.3(e),  a Co-Sale Investor shall not be required
                  to make any  representation or covenant in connection with its
                  participation    in   the   proposed    Transfer,    and   its
                  indemnification  obligations  shall be limited to the proceeds
                  received by it in such sale.

                           (v)  Each  stock   certificate  a  Co-Sale   Investor
                  delivers to the Selling  Stockholder  pursuant to subparagraph
                  (iii) above will be transferred to the prospective  transferee
                  against  payment  therefor in  consummation of the sale of the
                  Offered  Stock  pursuant to the Offer  Terms,  and the Selling
                  Stockholder shall concurrently therewith remit to each Co-Sale
                  Investor the portion of the sale proceeds to which the Co-Sale
                  Investor is entitled  by reason of its  participation  in such
                  sale. To the extent a Co-Sale  Investor desires to include his
                  or its shares of Series A Preferred  Stock in  exercising  its
                  Co-Sale  Right,  the sales  price for such  Series A Preferred
                  Stock shall be the  Redemption  Price (as such term is defined
                  in  the  Articles  of   Incorporation).   If  any  prospective
                  transferee  or  transferees  refuse(s) to purchase  securities
                  subject  to  the  Co-Sale   Right  from  a  Co-Sale   Investor
                  exercising its Co-Sale Rights  hereunder,  no Stockholder  may

                                       4
<PAGE>

                  sell any  Capital  Stock  to such  prospective  transferee  or
                  transferees unless and until,  simultaneously  with such sale,
                  such  Stockholder  purchases all securities  that such Co-Sale
                  Investor  is entitled  to sell to the  prospective  transferee
                  pursuant to their Co-Sale Rights.

                  (f)   Non-Exercise.   If  the   Investors   and  the   Company
         collectively  fail to  elect  to  exercise  the  rights  granted  under
         Sections  2.3(a) through (e) above,  then the Selling  Stockholder  may
         sell the shares of Offered  Stock so offered  hereunder to the proposed
         transferee set forth in the Offer Notice under Section 2.3(a) on terms,
         including the sale price, no more favorable to such proposed transferee
         than the Offer  Terms.  However,  if the Selling  Stockholder  does not
         effect such sale  within  thirty  (30) days after the  termination  (by
         passage of time or  default) of the first  refusal  and co-sale  rights
         created under Sections 2.3(a) through (e), the Selling  Stockholder may
         not thereafter  transfer any such shares  without again  complying with
         the provisions of this Section 2.3.

                  (g) Closing.  All purchase  transactions between and among the
         parties hereto (or their assignees)  pursuant to this Section 2.3 shall
         be  consummated  at a closing  to be held not later  than five (5) days
         after the expiration of the ten (10) day period provided for in Section
         2.3(e).  At the closing,  the purchaser shall deliver to the seller the
         consideration  (cash or other, as set forth in the Offer Terms) against
         delivery  of the  appropriate  stock  certificate(s)  (or voting  trust
         certificate(s)) duly endorsed for transfer.

                  (h) Exempted Transfers.  Except as otherwise set forth in this
         Section  2.3(h),  the  provisions of Section 2.3 shall not apply to the
         transfer or retransfer  of, and each  Stockholder or Investor who is an
         individual  may transfer or  retransfer  any Capital Stock held by such
         Stockholder  or  Investor  to or for the  benefit  of (i)  any  spouse,
         parent,  child,   grandchild,   lineal  descendant  (including  adopted
         children and stepchildren), siblings, aunts, uncles, nieces, nephews or
         in-laws (collectively,  "Relatives") of such holder (including, without
         limitation,  trustee(s) of a trust  exclusively  for the benefit of the
         Stockholder or Investor or any of the  foregoing);  (ii) any trustee or
         other fiduciary  holding  securities for the benefit of the Stockholder
         or Investor upon  retirement;  (iii) any  partnership,  corporation  or
         limited  liability company of which there are no owners other than such
         Stockholder  or  its  Relatives;  or  (iv)  any  legal  representative,
         devisee,  or heir of a  Stockholder  or Investor  upon his or her death
         (collectively,   "Permitted  Transferees");  provided,  that  all  such
         transferees   shall  take  such  Capital   Stock  subject  to  all  the
         restrictions,  terms, and conditions of this Agreement and shall comply
         with Section 5.1; and provided further,  that there shall be no further
         Transfer  of  such  Capital  Stock  except  in  accordance   with  this
         Agreement.

                  (i) Securities Law Compliance. Notwithstanding anything to the
         contrary  in this  Section  2.3,  no Capital  Stock may be  Transferred
         unless such Transfer is made in compliance with all applicable  federal
         and state securities laws.

         Section 2.4 Transfers in Violation of this  Agreement.  Any transfer of
Capital Stock in violation of the terms of this Agreement will be void and of no
effect,  and the  purported  transferee of such shares will not be recognized as
the  owner  or  holder  of  the  Capital  Stock  purportedly  transferred.   The

                                       5
<PAGE>

Stockholders  consent to the  notation of "Stop  Transfer"  restrictions  in the
Company's  stock  transfer books with respect to their holdings of Capital Stock
in order to  assist in the  enforcement  of the  restrictions  set forth in this
Agreement.

         Section 2.5 Compelled Sale Right.

                  (a)  Compelled  Sale.  If any  Investor or group of  Investors
         shall  desire to  Transfer  all or  substantially  all of the  Series A
         Preferred Stock and Common Stock Equivalent  Shares held by them, which
         Series A Preferred Stock and Common Stock  Equivalent  Shares represent
         at  least  fifty  percent  (50%)  of each of the  outstanding  Series A
         Preferred Stock and Common Stock (the "Majority Holders"), to any third
         party other than a Permitted  Transferee (the "Third Party Purchaser"),
         then all the other Stockholders and Investors (the "Minority  Holders")
         shall be required, at the election of the Majority Holders, to Transfer
         to the Third Party  Purchaser (a  "Compelled  Sale") all of the Capital
         Stock then held by the Minority  Holders (the "Compelled Sale Shares"),
         on the same  terms  and  conditions  upon  which the  Majority  Holders
         propose to Transfer  their shares of Capital  Stock.  In the event of a
         Compelled Sale, any options or stock  appreciation  rights that are not
         at such time  exercisable  shall become  exercisable  by reason of such
         transaction  only to the extent  provided in the instrument  evidencing
         the grant of such options or stock appreciation rights.

                  (b) Notice.  The Majority  Holders  shall give written  notice
         (the "Compelled  Sale Notice") to each of the Minority  Holders setting
         forth the terms and  conditions,  including the proposed sale price, of
         the  Compelled  Sale (the  "Compelled  Sale Terms") and the name of the
         Third  Party  Purchaser.  Within  ten (10) days  after  receipt  of the
         Compelled  Sale  Notice,  the  Minority  Holders  shall  deliver to the
         Company   stock   certificate(s)   (or  voting  trust   certificate(s))
         representing the Compelled Sale Shares, duly endorsed for transfer, and
         all other  documents  reasonably  requested  by the  Majority  Holders.
         Pending  consummation of the Compelled Sale, the Majority Holders shall
         promptly  notify the Minority  Holders of any  material  changes in the
         Compelled Sale Terms and any other material  developments in connection
         with the Compelled Sale.

                  (c) Closing.  The  Compelled  Sale shall be  consummated  at a
         closing  to be  held in  accordance  with  the  Compelled  Sale  Terms.
         Promptly  after the  closing,  the  Company  shall remit or cause to be
         remitted to  Minority  Holders the  consideration  with  respect to the
         Compelled  Sale  Shares.  If the  closing has not  occurred  within one
         hundred  twenty (120) days after delivery of the Compelled Sale Notice,
         the  Company  shall  promptly  return  to  the  Minority   Holders  all
         certificates   representing   the  Compelled  Sale  Shares   previously
         delivered  to the  Company.  The  provisions  of this Section 2.5 shall
         remain in effect, notwithstanding any such return of the Compelled Sale
         Shares.

         Section 2.6 Pre-emptive Rights.

                  (a) Upon the terms and subject to the  conditions set forth in
         this  Section  2.6,  the Company  hereby  grants to each  Investor  and
         Stockholder  a  preemptive  right with  respect to future  sales by the
         Company  of  its  Common  Stock  or  securities   convertible  into  or

                                       6
<PAGE>

         exchangeable for any Common Stock; provided,  however, such right shall
         not apply to the sale or issuance of Shares (i) to any person  pursuant
         to the terms of any stock  option  plan  adopted by the  Company,  (ii)
         issued or issuable  pursuant to the acquisition of another  corporation
         or business entity by the Company by merger,  purchase of substantially
         all of the  assets,  or  other  reorganization,  or to a joint  venture
         agreement,  provided that such  issuances are approved by the Board (as
         defined below);  (iii) issued or issuable to banks,  equipment lessors,
         or other  financial  institutions  pursuant to a commercial  leasing or
         debt  financing  transaction  approved  by the  Board;  (iv)  issued or
         issuable to  suppliers  of goods or third party  service  providers  in
         connection  with  the  provision  of  goods  or  services  pursuant  to
         transactions  approved  by the  Board;  (v)  issued  pursuant  to stock
         splits,   stock   dividends,   recapitalization,   or   other   similar
         reclassification  for which a  proportional  adjustment  has been made;
         (vi) issued pursuant to any warrant  outstanding as of the date hereof;
         and (vii) issued pursuant to a public offering of Common Stock or other
         securities of the Company pursuant to an underwritten  offering made in
         accordance  with the  Securities  Act. In  consideration  of the rights
         granted in this  Section 2.6,  each  Investor  and  Stockholder  hereby
         covenants and agrees to vote its Common Stock in favor of any amendment
         or modification to the Articles of Incorporation of the Company that is
         required  in order to issue any Common  Stock in  compliance  with this
         Section 2.6 and the other provisions of this Agreement.

                  (b) Procedures.  At any time the Company proposes to issue and
         sell any Common Stock, the Company shall first make an offering of such
         Common Stock to each Investor and  Stockholder  in accordance  with the
         following provisions:

                           (i) The Company  shall  deliver a notice by certified
                  mail (a  "Preemptive  Right  Notice") to the Investors and the
                  Stockholders stating (A) its bona fide intention to offer such
                  Common  Stock,  (B) the number of shares of Common Stock to be
                  offered,  and (C) the price and material  terms,  if any, upon
                  which it proposes to offer such shares of Common Stock.

                           (ii) Within  fifteen (15) days after  delivery of the
                  Preemptive  Right Notice,  each Investor and  Stockholder  may
                  elect to purchase or obtain, at the price and on such terms as
                  specified in the Preemptive  Right Notice,  up to that portion
                  of such  shares  of Series A  Preferred  Stock,  Common  Stock
                  Equivalents  or Common  Stock (as the case may be) as would be
                  required to maintain the percentage  ownership of the Investor
                  and the  Stockholder in the Series A Preferred  Stock,  Common
                  Stock  Equivalents or Common Stock (as the case may be) of the
                  Company  as it  existed  immediately  prior  to  the  sale  of
                  additional  shares of Common Stock.  Such sale shall occur not
                  later than the date on which the  Company  wishes to close the
                  sale for which the Preemptive  Right Notice was issued.  If an
                  Investor  or  Stockholder  fails  to  timely  respond  to  the
                  Preemptive  Right Notice,  such shall be deemed a rejection of
                  the  preemptive  rights of such Investor or  Stockholder as to
                  the  transaction  referenced in the  Preemptive  Right Notice.
                  Nothing contained herein shall be deemed to be a waiver of any
                  future preemptive rights.

                                       7
<PAGE>

         Section 2.7 Repurchase Restrictions.

                  (a) Company Right to  Repurchase.  In the event of termination
         of a Management  Holder's  (hereinafter  defined)  employment  with the
         Company and its Subsidiaries  (as defined below) either  voluntarily by
         such Management  Holder or for "cause" (as such term is defined in such
         Management Holder's employment  agreement),  the Company shall have the
         right,  exercisable by written  notice to the Management  Holder at any
         time prior to the  expiration  of the ninety (90) day period  following
         such  termination  of  employment,  to elect to  repurchase  all or any
         portion of the Capital Stock (including vested options) held,  directly
         or indirectly,  by such Management Holder and its permitted transferees
         (the "Eligible  Stock"),  at a cash price per share equal to (i) in the
         case of termination  of such  Management  Holder for "cause",  the fair
         market value of the Eligible Stock (or, in the case of vested  options,
         the excess of such fair market value over the per-share  exercise price
         under  such  options),  in each  case at a  thirty-five  percent  (35%)
         discount,  and (ii) in the case of the  voluntary  termination  by such
         Management  Holder, the fair market value of the Eligible Stock (or, in
         the case of vested  options,  the excess of such fair market value over
         the per-share  exercise price under such  options),  in either case, as
         appropriately adjusted for stock splits, stock dividends, combinations,
         reclassifications and other similar transactions. A "Management Holder"
         is a  holder  of  Capital  Stock  who has  agreed  to be  bound  by the
         provisions hereof and is or was an employee of the Company.

                  (b) Investors'  Right to Repurchase.  If the Company is unable
         to purchase all of the Eligible Stock due to inadequate  surplus, of if
         the Company  otherwise  does not  exercise its right to purchase all of
         the Eligible  Stock,  the Company shall give notice to the Investors of
         such fact  during the ninety  (90) day period  provided  for in Section
         2.7(a).  The Investors shall have the exclusive right during the period
         of  thirty  (30)  days  following  receipt  of such  notice to elect to
         purchase all or any portion of the Eligible  Stock not purchased by the
         Company  pursuant to Section  2.7(a) at a cash price per share equal to
         (i) in the case of termination of such  Management  Holder for "cause",
         the fair market value of the Eligible  Stock (or, in the case of vested
         options,  the  excess  of such fair  market  value  over the  per-share
         exercise  price  under  such  options),  in each case at a  thirty-five
         percent  (35%)  discount,  and  (ii)  in  the  case  of  the  voluntary
         termination  of such  Management  Holder,  the fair market value of the
         Eligible Stock (or, in the case of vested  options,  the excess of such
         fair  market  value  over  the  per-share  exercise  price  under  such
         options),  in either case, as appropriately  adjusted for stock splits,
         stock  dividends,  combinations,  reclassifications  and other  similar
         transactions.  In the  event  that  more  than one  Investor  wishes to
         purchase the Eligible  Stock to be sold, the right to purchase shall be
         allocated  among such  Investors in  proportion  to their  ownership of
         Common Stock Equivalent Shares. Any election by an Investor to purchase
         Eligible  Stock  shall be  binding  upon such  Investor  and may not be
         withdrawn without the written consent of the Company and the Management
         Holder.

                                       8
<PAGE>

                  (c) Fair Market  Value.  The fair market value of the Eligible
         Stock  shall be  mutually  agreed  upon by  Management  Holder  and the
         Company (or the Investors in the case of Section 2.4(b)). If Management
         Holder and the Company (or the Investors in the case of Section 2.4(b))
         cannot in good faith agree upon the fair market  value of the  Eligible
         Stock,  then Management Holder and the Company (or the Investors in the
         case of Section 2.4(b)) shall appoint an independent  appraiser who has
         knowledge  and  experience  in the business of the Company to make such
         determination.  If Management  Holder and the Company (or the Investors
         in  the  case  of  Section   2.4(b))  cannot  mutually  agree  upon  an
         independent  appraiser,  then Management Holder and the Company (or the
         Investors in the case of Section  2.4(b)) shall each appoint a separate
         independent appraiser,  and such independent appraisers shall appoint a
         third  independent  appraiser,  whose  determination of the fair market
         value of the Eligible Stock shall be binding. Management Holder and the
         Company (or the Investors in the case of Section  2.4(b)) shall each be
         responsible for the costs of their  independent  appraisers,  and shall
         each pay fifty percent (50%) of the initial independent  appraiser,  if
         one is actually agreed upon, or the third independent  appraiser if one
         is so appointed in accordance with this Section 2.4(c).

                  (d) Closing.  The closing of the  repurchase of Eligible Stock
         shall occur (i) within  forty-five  (45) days  following the receipt of
         the  Company's  written  notice of  election to  repurchase  all of the
         Eligible  Stock,  or (ii) if the Company does not elect to purchase all
         of the  Eligible  Stock,  within  forty-five  (45) days  following  the
         expiration  of the  thirty  (30) day  period  provided  for in  Section
         2.4(b).

                  (e) Special Provisions.

                           (i)   Notwithstanding   anything  contained  in  this
                  Section 2.7 to the contrary, for purposes of any repurchase of
                  Eligible Stock held by Dale Hensel or Dan Barnett, the Company
                  and/or the  Investors (as the case may be) shall only have the
                  right to  purchase  Thirty-Five  percent  (35%)  of the  total
                  Eligible Stock held by Dale Hensel or Dan Barnett (as the case
                  may be) at the time of such repurchase.

                           (ii)  Notwithstanding   anything  contained  in  this
                  Section  2.7 to the  contrary,  Michelle  Taylor  shall not be
                  deemed a "Management Holder" for purposes of this Section 2.7.

                                   ARTICLE III
                              CORPORATE GOVERNANCE

         Section 3.1  Elections  of  Directors.  From and after the date hereof,
each  Investor and  Stockholder  shall vote all of the Capital  Stock over which
such  Investor  and  Stockholder  has voting  control,  and shall take all other
necessary or desirable  actions within his or its control (whether in his or its
capacity as a stockholder,  director,  member of a board committee or officer of

                                       9
<PAGE>

the Company or  otherwise,  and  including,  without  limitation,  attendance at
meetings in person or by proxy for purposes of obtaining a quorum and  execution
of written  consents or resolutions in lieu of meetings),  and the Company shall
take all necessary or desirable actions within its control  (including,  without
limitation, calling special board and stockholders' meetings) so that:

                  (a) the  authorized  number of directors of the  Company's and
         each of its Subsidiaries' (as defined in the Articles of Incorporation)
         Board of  Directors  (the  "Board")  shall be  established  at five (5)
         directors; and

                  (b) all votes of such  Investor  and  Stockholder  are cast in
         favor of the Series A Directors and the Common Stock Directors (each as
         defined in the Articles of Incorporation).

         Section  3.2  Vacancies.  Vacancies  in the Board of  Directors  of the
Company  may be filled by a majority  of the  holders of (a) Series A  Preferred
Stock if there is a vacancy in the Series A  Directors,  or (b) Common  Stock if
there is a vacancy in the Common  Stock  Directors.  A Series A Director  may be
removed during his or her term of office,  either for or without cause,  only by
the holders of the Series A Preferred Stock.

                                   ARTICLE IV
                               TERM AND AMENDMENT

         Section 4.1 Term.  This  Agreement  will terminate upon the earliest to
occur  of:  (a) the  date on which  this  Agreement  is  terminated  by  written
agreement  signed by (i)  Stockholders  and  Investors  holding  not less than a
majority of (A) the Common Stock then held by all holders of Common  Stock,  (B)
the  Series A  Preferred  Stock then held by all  holders of Series A  Preferred
Stock,  and (C) the  Warrant  Shares  then held by all  holders of the  Warrants
(based upon the number of shares of Common  Stock into which such  Warrants  are
then exercisable);  (b) immediately before the closing of a sale, lease or other
conveyance of all or substantially all of the Company's assets;  (c) immediately
before  the  closing of an  acquisition  of the  Company  by  another  entity by
consolidation,  merger  or other  reorganization  in which  the  holders  of the
Company's   outstanding   voting  stock   immediately   before  the  acquisition
transaction  own,  immediately  after the  acquisition  transaction,  securities
representing less than fifty percent (50%) of the voting power of the Company or
other entity surviving such transaction (other than a merger effected solely for
the  purpose of changing  the  Company's  domicile  or  effected  solely for the
purpose of raising operating capital);  (d) on the date immediately prior to the
Company's  sale of its Common  Stock in a firm  commitment  underwritten  public
offering pursuant to a registration  statement under the Securities Act of 1933,
as  amended,  in which the net  proceeds  to the Company are equal to or greater
than $20,000,000  (before deduction of underwriters'  commissions and expenses);
or (e) on the date  that  all  Investors  no  longer  hold  shares  of  Series A
Preferred Stock, the Warrants and the underlying Warrant Shares.

         Section 4.2  Amendment.  This Agreement  shall not be changed,  waived,
discharged,  or  terminated  except by written  agreement  signed by (a) holders
holding  not less  than a  majority  of (A) the  Common  Stock  then held by all
holders  of Common  Stock,  (B) the  Series A  Preferred  Stock then held by all
holders of Series A Preferred Stock, and (C) the Warrant Shares then held by all
holders of the  Warrants  (based upon the number of shares of Common  Stock into
which such Warrants are then exercisable).

                                       10
<PAGE>

                                    ARTICLE V
                                  MISCELLANEOUS

         Section 5.1  Parties.  This  Agreement  shall be binding upon and shall
inure  to  the   benefit  of  the  parties   hereto,   their   heirs,   personal
representatives,  successors, and permitted assigns; provided,  however, that no
Person other than the Investors shall have any rights  hereunder or the power to
enforce any of the duties  created  hereby  unless such Person shall have become
bound to the provisions hereof, as described in Section 5.1.

         Section  5.2  Specific  Performance.  The parties  hereto  agree that a
breach or violation of any of the terms,  covenants,  or other obligations under
this   Agreement  will  result  in  immediate  and   irreparable   harm  to  the
non-breaching  parties in an amount that will be  impossible to ascertain at the
time of the breach or violation and that the award of monetary  damages will not
be adequate relief to the non-breaching parties.  Therefore,  the failure on the
part of any  party to  perform  all of the  terms,  covenants,  and  obligations
established by this Agreement shall give rise to a right to the other parties to
obtain  enforcement  of this  Agreement  in a court of  equity  by a  decree  of
specific  performance,  a writ of mandamus,  or other  injunctive  relief.  This
remedy,  however,  shall be  cumulative  and in addition to any other remedy the
parties may have.

         Section 5.3  Severability.  If any  provision of this  Agreement or the
application thereof shall be invalid or unenforceable,  the parties hereto shall
take such action as may be necessary to effectuate the intent of such provision,
and the remainder of this Agreement and any other  application of such provision
shall not be affected thereby.

         Section 5.4  Sections  and  Exhibits.  The headings of sections in this
Agreement are provided for convenience  only and will not affect the Agreement's
construction  or  interpretation.  Unless  indicated  otherwise,  references  to
"Section,"  "Sections,"  "Exhibit,"  or  "Exhibits"  refer to the  corresponding
section, sections, exhibit, or exhibits, respectively, of this Agreement.

         Section 5.5 Notices.  Any notice required or permitted  hereunder shall
be given in writing and shall be deemed to have been given,  made,  or delivered
when actually  received  (regardless of the manner of  transmission) or five (5)
days after  deposited  in the mail and sent by  registered  or  certified  mail,
postage   prepaid;   or,  by  facsimile   transmission   when  transmitted  with
confirmation of receipt, addressed as the case may be as follows:

         If to the Company:         Mortgage Assistance Center Corporation
                                    2614 Main Street
                                    Dallas, Texas  75226
                                    Attention: Chief Executive Officer
                                    Facsimile:

                                       11
<PAGE>

         With a copy to:

         If to a Stockholder:       (as set forth on Exhibit A hereto)

         If to an Investor:         (as set forth on Exhibit B hereto)

or to such other address as such party shall have  furnished to other parties in
writing in accordance with the provisions hereof.

         Section 5.6 Confidentiality.  Each party to this Agreement agrees to at
all times hold in confidence  and keep secret and inviolate all of the Company's
confidential information, including, without limitation, all unpublished matters
relating to the business,  property,  accounts,  books,  records,  customers and
contracts  of the Company  which such party may now or  hereafter  come to know;
provided,  that any party to this  Agreement  may disclose any such  information
which has  otherwise  entered the public domain (not as a result of violation of
this  Agreement)  or which he or it is required to disclose to any  governmental
authority by law or subpoena or judicial process.

         Section 5.7  Counterparts.  This  Agreement  may be executed in as many
counterparts as may be deemed  necessary or convenient,  each of which,  when so
executed,  shall  be  deemed  an  original,  but  all  such  counterparts  shall
constitute but one and the same instrument.

         Section 5.8 Governing Law; Venue. This Agreement shall be construed and
enforced in accordance with the laws of the State of Texas.

         Section 5.9 Entire  Agreement.  This Agreement  constitutes  the entire
agreement among the Company,  the Stockholders and the Investors relating to the
subject  matter  hereof and there are no other terms other than those  contained
herein.

         Section 5.10 Further Assurances. Each party to this Agreement will take
such further  action and will execute and deliver such further  documents as may
be  reasonably  requested  by any other  party to carry out the  provisions  and
purposes of this Agreement.  In addition, the Company shall use its best efforts
to ensure that the rights  granted  under this  Agreement are effective and that
the  parties  hereto  enjoy  the  benefits  of the  rights  granted  under  this
Agreement.  Without  limiting the generality of the  foregoing,  the Company (a)
shall use its best efforts to cause the nomination and election of the directors
as provided in Article III; (b) shall not avoid or seek to avoid the  observance
or  performance  of any of the terms to be performed  by the Company  under this
Agreement;  (c) shall at all times in good faith  assist in carrying  out all of
this Agreement's  provisions and in taking all such actions as may be necessary,
appropriate,  or  reasonably  requested  by  any  Investor  to  protect  against
impairment of such Investor's  rights as set forth in this Agreement;  (d) shall
not transfer on the Company's books any Capital Stock that has been  purportedly
Transferred  in  violation of this  Agreement;  (e) shall not give effect to any
action in  contravention  of this  Agreement  undertaken by any Person;  and (f)
shall promptly inform the Investors of any breach or action in  contravention of
this Agreement of which the Company becomes aware.

                                       12
<PAGE>

         Section 5.11 Grant of Proxy.  If any provisions of this Agreement cause
the termination of the ownership of Capital Stock of any Stockholder (including,
without limitation,  in connection with a Compelled Sale as described in Section
2.5),  then such  Stockholder  hereby  grants the Company a power of attorney to
take  all  actions,  and  execute  and  deliver  all  documents,   necessary  or
appropriate  to evidence the transfer of such Capital  Stock on the books of the
Company.  Such proxy,  and if any  provisions of this Agreement are construed to
constitute  the  granting of proxies,  then such other  proxies,  will be deemed
coupled with an interest and are irrevocable for the term of this Agreement.

         Section 5.12 Ownership of Capital Stock. Each Stockholder represents
and warrants that such Stockholder is the sole record and beneficial owner of
the Capital Stock set forth opposite such Stockholder's name on Exhibit A and
that no other Person has any interest (other than a community property interest)
in any of such Capital Stock.

       Remainder of page left intentionally blank; signature pages follow

                                       13
<PAGE>

         IN WITNESS WHEREOF, the undersigned have hereunto set their hands as of
the day and year first above written.

                                              THE COMPANY:

                                              MORTGAGE ASSISTANCE CENTER
                                              CORPORATION, a Florida corporation

                                              By:_______________________________
                                              Name:Dale Hensel
                                              Its: President

                                              STOCKHOLDERS:

                                              __________________________________
                                              Dale Hensel, Individually

                                              __________________________________
                                              Dan Barnett, Individually

                                              __________________________________
                                              Michelle Taylor, Individually

                                              INVESTORS:

                                              W.C. PAYNE INVESTMENTS, LLC

                                              By:_______________________________
                                              Name: W.C. Payne
                                              Its:  Managing Member

                                       14
<PAGE>

                                            FAX / MACC, L.P.

                                            By:  Family Access Exchange II, L.P.
                                            Its: General Partner

                                            By:  FAX GenPar, L.L.C.
                                            Its: General Partner

                                            By:_________________________________
                                            Name: Rod Cain Jones
                                            Its:  President

                                       15
<PAGE>

                                    EXHIBIT A
                                    ---------

                                  STOCKHOLDERS

Common Stock
------------

Name                            Notice Address                  Number of Shares
----                            --------------                  ----------------

Dale Hensel                                                     5,031,058
Dan Barnett                                                     4,967,058
Michelle Taylor                                                 1,036,375
                                                                ----------------
                                                                11,034,491

<PAGE>
<TABLE>
<CAPTION>

                                    EXHIBIT B
                                    ---------

                                    INVESTORS
                                                                        Purchase Price
                                    Number of          Number of         for Series A
        Investor                 Series A Shares    Warrant Shares          Shares
        --------                 ---------------    --------------          ------

<S>                              <C>                <C>                <C>
W.C. Payne Investments, LLC      Up to 1,000,000    Up to 3,037,796    Up to $1,000,000

FAX/MACC, L.P.                   Up to 2,000,000    Up to 6,075,591    Up to $2,000,000

                   Total:        Up to 3,000,000    Up to 9,113,387    Up to $3,000,000
</TABLE>

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00114-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00114-of-00352.parquet"}]]