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EXHIBIT 4.4

THE WARRANTS REPRESENTED BY THIS CERTIFICATE ("WARRANTS") AND THE UNDERLYING
WARRANT SHARES ("WARRANT SHARES") HAVE NOT BEEN REGISTERED UNDER THE SECURITIES
ACT OF 1933, AS AMENDED (THE "SECURITIES ACT"). THE WARRANTS MAY NOT BE OFFERED
OR SOLD UNLESS THE WARRANTS AND WARRANT SHARES HAVE BEEN REGISTERED UNDER THE
SECURITIES ACT OR AN EXEMPTION FROM SUCH REGISTRATION IS AVAILABLE, AS EVIDENCED
BY AN OPINION OF COUNSEL REASONABLY SATISFACTORY TO THE COMPANY.

THE WARRANTS REPRESENTED BY THIS CERTIFICATE MAY NOT BE TRANSFERRED, SOLD,
PLEDGED, HYPOTHECATED AND ENCUMBERED EXCEPT PURSUANT TO THE PROVISIONS CONTAINED
HEREIN.

                                                                         No. 200

                        WARRANTS TO PURCHASE COMMON STOCK

         MICROTEL INTERNATIONAL, INC., a Delaware corporation (the "Company")
hereby grants to T-Com, LLC (the "Holder") two hundred fifty thousand (250,000)
warrants (the "Warrants") for the purchase of common stock of the Company (the
"Common Stock"), with each whole Warrant entitling the Holder to purchase one
share of Common Stock (each a "Warrant Share" and collectively the "Warrant
Shares") on the terms and subject to the conditions set forth herein.

         1. TERM. The Warrants may be exercised, in whole or in part, at any
time and from time to time from the date hereof until 5:00 P.M. Pacific Time on
September 22, 2002 (the "Exercise Period"); provided that the Exercise Period
will be extended to the extent that the Holder elects to exercise Warrants for
which there are not available shares of Common Stock until such period of time
as such shares become available.

         2. EXERCISE PRICE. The exercise price of each whole Warrant shall be
$1.25 per share ("Exercise Price"). The Exercise Price shall be subject to
adjustment as provided in Section 7.

         3. EXERCISE OF WARRANTS.

                  3.1 GENERAL EXERCISE PROCEDURES. The Warrants are exercisable
on the terms provided herein at any time during the Exercise Period by the
surrender of this certificate to the Company at its principal office together
with the Notice of Exercise annexed hereto duly completed and executed on behalf
of the Holder, accompanied by payment in full, in immediately available funds,
of the amount of the aggregate Exercise Price of the Warrant Shares being
purchased upon such exercise. The Holder shall be deemed the record owner of
such Warrant Shares as of and from the close of business on the date on which
this certificate is surrendered together with the completed Notice of Exercise
and payment in full as required above (the "Exercise Date"). The Company agrees
that the Warrant Shares so purchased shall be issued as soon as practicable
thereafter. It shall be a condition to the exercise of the Warrants that the
Holder or any transferee hereof provide an opinion of counsel reasonably
satisfactory to the Company that the Warrants and the Warrant Shares to be
delivered upon exercise thereof have been registered under the Securities Act or
that an exemption from the registration requirements of the Securities Act is
available.

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                  3.2 EXERCISE BY EXCHANGE. In addition to and without limiting
the rights of the Holder under the terms hereof, at the Holder's option this
Warrant may be exercised during the term specified above by being exchanged in
whole or in part prior to the Expiration Date for a number of shares of Common
Stock having an aggregate fair market value on the date of such exercise equal
to the difference between (x) the fair market value of the number of shares of
Common Stock subject to this Warrant designated as being exercised by the Holder
on the date of the exercise and (y) the aggregate Exercise Price for such shares
in effect at such times. The following diagram illustrates how many shares would
then be issued upon exercise pursuant to this Section 3.2:

        Let:    FMV    =    Fair market vale per share at the date of exercise.

                PSP    =    Per share Exercise Price at date of exercise.

                N      =    Number of shares desired to be exercised.

                X      =    Number of shares issued after exercise.

        Therefore      X    =  (FMV) (N)-(PSP) (N)
                                -------------------
                                        FMV

                  Upon any such exercise, the number of shares of Common Stock
purchasable upon exercise of this Warrant shall be reduced by such designated
number of shares of Common Stock and, if a balance of purchasable shares of
Common Stock remains after such exercise, the Company shall execute and deliver
to the holder hereof a new warrant for such balance of shares of Common Stock.

                  No payment of any cash or other consideration to the Company
shall be required from the Holder in connection with any exercise of this
Warrant by exchange pursuant to this Section 3.2. Such exchange shall be
effective upon the date of receipt by the Company of the original Warrant
surrendered for cancellation and a written request from the Holder that the
exchange pursuant to this section be made. No fractional shares arising out of
the above formula for determining the number of shares issuable in such exchange
shall be issued, and the Company shall in lieu thereof make payment to the
Holder hereof of cash in the amount of such fraction multiplied by the fair
market value of a share of Common Stock on the date of the exchange.

                  For the purposes of this Warrant, the "fair market value per
share" of Common Stock shall mean the Market Price Per Share, as determined
pursuant to Section 3.3 below.

                  3.3 FRACTIONAL INTEREST; MARKET PRICE. The Company shall not
issue any fractional shares of scrip representing fractional shares upon the
exercise or exchange of this Warrant. With respect to any fraction of a share
resulting from the exercise or exchange hereof, the Company shall pay to the
Holder an amount in cash equal to such fraction multiplied by the current fair
market value per share of Common Stock (herein the "Market Price Per Share"),
determined as follows:

                                      -2-
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                  (a) If the Common Stock is listed on a national securities
exchange or admitted to unlisted trading privileges on such an exchange or is
listed on the National Association of Securities Dealers Automated Quotation
System ("NASDAQ"), the current fair market value shall be the last reported sale
price of the Common Stock on such exchange or NASDAQ on the last business day
prior to the date of exercise of this Warrant, or if no such sale is made on
such day, the mean of the closing bid and asked prices for such day on such
exchange or NASDAQ;

                  (b) If the Common Stock is not so listed or admitted to
unlisted trading privileges or quoted on NASDAQ, the current fair market value
shall be the mean of the last bid and asked prices reported on the last business
day prior to the date of the exercise of this Warrant (i) by NASDAQ, or (ii) if
reports are unavailable under clause (i) above, by the National Quotation Bureau
Incorporated; or

                  (c) If the Common Stock is not so listed or admitted to
unlisted trading privileges and bid and asked prices are not so reported, the
current fair market value shall be an amount, not less than book value,
determined in such reasonable manner as may be prescribed by the Company's Board
of Directors in good faith.

         4. WARRANTS CONFER NO RIGHTS OF STOCKHOLDER. The Holder shall not have
any rights as a stockholder of the Company with regard to the Warrant Shares
prior to the Exercise Date for any actual purchase of Warrant Shares.

         5. INVESTMENT REPRESENTATION. Neither the Warrants nor the Warrant
Shares issuable upon the exercise of the Warrants have been registered under the
Securities Act or any state securities laws. The Holder acknowledges by signing
this certificate that, as of the date of this Warrant and at the time of
exercise that: (a) the Holder has acquired the Warrant or the Warrant Shares, as
the case may be, for the Holder's own account; (b) the Holder has acquired the
Warrants or the Warrant Shares, as the case may be, for investment and not with
a view to distribution; and (c) either the Holder has a pre-existing personal or
business relationship with the Company or its executive officers, or by reason
of the Holder's business or financial experience the Holder has the capacity to
protect the Holder's own interests in connection with the transaction. The
Holder agrees, by acceptance of this certificate, that any Warrant Shares
purchased upon exercise of the Warrants may have to be held indefinitely, until
registered and qualified for resale pursuant to Section 6, or until an exemption
from registration is available, as evidenced by an opinion of counsel reasonably
satisfactory to the Company, or until transferred to a Permitted Transferee (as
defined in the Asset Purchase Agreement, effective September 1, 2000, by and
among MicroTel International, Inc., CXR Telcom Corporation and T.Com, LLC (the
"Asset Purchase Agreement"), who has signed an investor representation letter
satisfactory to Company. The Holder, by acceptance of this certificate, consents
to the placement of a restrictive legend (the "Legend") on the certificates
representing any Warrant Shares that are purchased upon exercise of the Warrants
during the applicable restricted period under Rule 144 or any other applicable
restricted period under the Securities Act. The Legend shall be in substantially
the following form:

                                      -3-
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         THE SECURITIES REPRESENTED BY THIS CERTIFICATE HAVE NOT BEEN REGISTERED
         UNDER THE SECURITIES ACT OF 1933, AS AMENDED. ("SECURITIES ACT") OR
         UNDER ANY STATE SECURITIES LAWS (STATE LAWS"). SUCH SHARES HAVE BEEN
         ACQUIRED FOR INVESTMENT AND MAY NOT BE SOLD, TRANSFERRED, PLEDGED OR
         HYPOTHECATED IN THE ABSENCE OF AN EFFECTIVE REGISTRATION STATEMENT FOR
         SUCH SHARES UNDER THE SECURITIES ACT, UNLESS IN THE WRITTEN LEGAL
         OPINION (APPROVED BY THE COMPANY) OF COUNSEL SATISFACTORY TO THE
         COMPANY, THE SECURITIES MAY BE TRANSFERRED WITHOUT REGISTRATION
         PURSUANT TO RULE 144 PROMULGATED UNDER THE SECURITIES ACT OR ANY OTHER
         AVAILABLE EXEMPTION.

         6. REGISTRATION RIGHTS. The shares of Common Stock underlying the
Warrants shall be accorded the registration rights as set forth in Section 8.7
to the Asset Purchase Agreement.

         7. ADJUSTMENT FOR CHANGES IN CAPITAL STOCK. If the Company at any time
during the Exercise Period shall, by subdivision, combination or
reclassification of securities, change any of the securities into which the
Warrants are exercisable into the same or a different number of securities of
any class or classes, the Warrants shall thereafter entitle the Holder to
acquire such number and kind of securities as would have been issuable as a
result of such change with respect to the Warrant Shares if the Warrant Shares
had been outstanding immediately prior to such subdivision, combination, or
reclassification. If shares of the Company's Common Stock are subdivided into a
greater number of shares of Common Stock, the Exercise Price for the Warrant
Shares upon exercise of the Warrants shall be proportionately reduced and the
number of Warrant Shares shall be proportionately increased; and conversely, if
shares of the Company's Common Stock are combined into a smaller number of
shares of Common Stock, the Exercise Price shall be proportionately increased,
and the number of Warrant Shares shall be proportionately decreased.

         8. LOSS, THEFT, DESTRUCTION OR MUTILATION OF CERTIFICATE. Upon receipt
by the Company of evidence reasonably satisfactory to it of the loss, theft,
destruction or mutilation of any certificate representing the Warrants or the
Warrant Shares (referred to herein as the "original certificate"), and in case
of loss, theft or destruction, or indemnity or security reasonably satisfactory
to the Company, and upon reimbursement to the Company of all reasonable expenses
incidental thereto, and upon surrender and cancellation of the original
certificate if mutilated, the Company will make and deliver a new certificate of
like tenor in lieu of the original certificate.

         9. ASSIGNMENT. The Warrants may be transferred subject to the
provisions of Section 5 above. Registration rights provided for in Section 6
hereof shall transfer with the Warrants to the transferee or assignee of such
Warrants.

                                      -4-
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         10. GENERAL. This certificate shall be governed by and construed in
accordance with the laws of the State of Delaware applicable to contracts
between California residents entered into and to be performed entirely within
the State of California. The headings herein are for purposes of convenience and
reference only and shall not be used to construe or interpret the terms of this
certificate. The terms of this certificate may be amended, waived, discharged or
terminated only by a written instrument signed by both the Company and the
Holder. All notices and other communications from the Company to the Holder
shall be mailed by first-class registered or certified mail, postage pre-paid,
to the address furnished to the Company in writing by the last Holder who shall
have furnished an address to the Company in writing.

         IN WITNESS WHEREOF, the undersigned have executed this Agreement on
September 22, 2000.

                                              MICROTEL INTERNATIONAL, INC.

Date: 9-22-00                                 By: /S/ CARMINE T. OLIVA
      -------                                    -------------------------------
                                                    (Authorized Signature)

                                                 Carmine T. Oliva, President
                                                 -------------------------------
                                                       (Name and Title)

Dated: 9-22-00                                By: /S/ E. BAHRE
       -------                                    ------------------------------
                                                      (Authorized Signature)

                                                  Everett T. Bahre
                                                  ------------------------------
                                                   (Name and Title)

                                      -5-
<PAGE>

                               NOTICE OF EXERCISE

To: MicroTel International, Inc. (the "Company")

         1. The undersigned hereby elects to exercise a total of ____________
Warrants for the purchase of a like number of Warrant Shares, and (tenders
herewith payment of the Exercise Price for such shares in full/requests that an
exchange be made pursuant to Section 3.2 of such Warrant).

         2. In exercising the Warrants, the undersigned hereby confirms and
acknowledges that: (a) the Warrant Shares are being acquired solely for the
account of the undersigned for investment and not with a view to or for sale in
connection with any distribution; (b) the undersigned has a pre-existing
personal or business relationship with the Company or its executive officers, or
by reason of the undersigned's business or financial experience the undersigned
has the capacity to protect the undersigned's own interests in connection with
the exercise of the Warrants; and (c) the undersigned will not offer, sell or
otherwise dispose of any of the Warrant Shares unless the Warrant Shares have
been registered under the Securities Act or an exemption from such registration
is available, as evidenced by an opinion of counsel reasonably satisfactory to
the Company, except to such permitted transferee(s) signing an investor
representation letter satisfactory to Company.

         3. The undersigned hereby certifies that the undersigned has delivered
to the Company an opinion of counsel to the effect that the Warrants and the
Warrant Shares have been registered under the Securities Act or an exemption
from such registration is available.

         4. Please issue a certificate representing the Warrant Shares in the
name of the Holder and deliver the certificate to the address set forth below.

         5. Please issue a new certificate representing the unexercised portion
(if any) of the Warrants in the name of the Holder and deliver the certificate
to the address set forth below.

Date:_____________
                                         _______________________________________
                                         T-Com, LLC

                                         _______________________________________
                                         (Authorized Signature)

                                         Address for Delivery:

                                         _______________________________________

                                         _______________________________________

                                         _______________________________________

                                         _______________________________________

                                      -6-<PAGE>

EXHIBIT 10.1

                       THE SECURITY ASSET 2001 STOCK PLAN

1. Purpose of the Plan

            The purpose of The Security Asset 2001 Stock Plan ("Plan") is to
provide a means by which Security Asset Capital Corporation, a Nevada
corporation ("Company"), may compensate key employees, advisors, and consultants
by issuing to them shares of its capital stock in exchange for services, and to
thereby conserve the Company's cash resources. In addition, equity ownership
will provide increased incentive for such individuals to render services to the
Company in the future and to exert maximum effort for the success of the
Company's business.

2. Definitions

         The following definitions apply the provisions of this Plan:

         A.       "Board" means the Company's Board of Directors

         B.       "Common Stock" means the Company's $.001 par value common
                  stock

         C.       "Committee" means the Committee appointed by the Board in
                  accordance with paragraph A of Section 3 of this Plan. If no
                  Committee is appointed, "Committee" refers to the Board

         D.       "Employee" means any person, including officers, directors,
                  employees, advisors, and consultants employed by the Company
                  or any Subsidiary on either a full-time or part-time basis

         E.       "Plan" means this 2001 Stock Plan

         F.       "Share" means a share of Common Stock.

3. Administration of the Plan

         A. Procedure. The Compensation Committee (the "Committee") appointed by
the Board shall administer the Plan. The Board may appoint a Committee of not
less than two (2) Board members to administer the Plan, subject to such terms
and conditions as the Board may prescribe. Once appointed, the Committee shall
continue to serve until the Board otherwise directs. From time to time, the
Board may increase the Committee size and appoint additional members, fill
vacancies, however caused, and remove all members and thereafter directly
administer the Plan. Members of the Committee who are either eligible for Shares
under this Plan or have been granted Shares under this Plan may vote on any
matters affecting the Plan administration or granting any Shares under the Plan;
provided that no such member shall act upon the granting of Shares to himself or
herself, but any such member may be counted in determining the existence of a
quorum at any meeting during which such action is taken.

         B. Powers of the Committee. The Committee shall have the authority to
(i) based on relevant information, to determine the fair market value of the
Common Stock; (ii) to determine the value of the services rendered or to be
rendered to the Corporation, (iii) the Employees or Consultants to whom and the
time or times when Common Stock shall be granted and the number of Shares to be
issued; (iv) to interpret the Plan; (v) to prescribe, amend and rescind rules
and regulations relating to the Plan; (vi) to authorize any person to execute on
the Company's behalf any instrument required to effectuate a grant of Common
Stock; and (vii) to make all other determinations deemed necessary or advisable
for administering the Plan.

         C. Effect of Committee's Decision. All decisions, determinations, and
interpretations of the Committee shall be final and binding on any and all
holders of Common Stock granted under the Plan.

<PAGE>

4. Shares Reserved.

            A total of Two Million Five Hundred Thousand (2,500,000) shares of
Common Stock shall be subject to the Plan and shall be and are hereby reserved
for issuance under the Plan. Such Shares shall be unissued or previously issued
shares reacquired and held by the Company. Any such shares which remain unsold
when the Plan terminates shall cease to be reserved for the Plan but, until
termination, the Company shall at all times reserve a sufficient number of
shares to meet the Plan's requirements.

5. Eligibility

            Common Stock may be issued under this Plan only to Employees or
Consultants for services rendered to the Company or on the Company's behalf as
determined by the Board or the Committee. Common stock may not be issued under
this Plan for services in connection with a capital raising transaction and do
not directly or indirectly promote or maintain a market for the Company's
securities. An Employee or Consultant who has been issued Common Stock under the
Plan, if he or she is otherwise eligible, may be granted additional Common
Stock.

6. Continuation of Employment

            Neither the Plan or the issuance of any Common Stock under the Plan
shall confer upon any Employee any right with respect to continuing employment
with the Company, nor shall it interfere in any way with his or her right or the
Company's right to terminate his or her employment or other position at anytime.

7. Fair Market Value Limitation

            The Company's Board of Directors or Committee shall grant the right
to receive Common Stock to Employees or Consultants for services rendered to, or
to be rendered to, or on behalf of, the Company such that the fair market value
of the Shares approximates the fair market value of the services. Determination
of fair market value shall be within the business discretion of the Board of
Directors and/or Committee.

8. Investment Representation

            Each Employee or Consultant granted Shares under this Plan shall
represent in writing that she/he is acquiring the shares for investment and not
for resale or to distribute the Shares to the public. Upon demand, delivery of
such a representation prior to the delivery of any shares issued shall be a
condition precedent to the right of the Employee or Consultant to receive Shares
under the Plan.

9. Amendments or Termination

            The Board of Directors may amend, alter or discontinue the Plan.

10. Compliance with Other Laws and Regulations

            The Plan, the grant, and issuance of Shares under the Plan shall be
subject to all applicable federal and state laws, rules and regulations and to
such approvals by the governmental or regulatory agency as may be required. The
Company shall not be required to issue or deliver any certificates for shares of
Common Stock prior to the completion of any registration or qualification of
such shares under any federal or state law, or any ruling or regulation of any
governmental body which the Company shall, in its sole discretion, determine to
be necessary or advisable. Further, it is the intention of the Company that the
Plan comply in all respects with the provisions of Rule 16b-3 of the Securities
and Exchange Act of 1934, as amended. If any Plan provision is found not to be
in compliance with Rule 16b-3, the provision shall be deemed null and void.

11. Effectiveness and Expiration of the Plan

            The Plan shall be effective on June 11, 2001, and continue to June
11, 2004, three years after the effective date of the Plan, and thereafter no
Shares shall be granted under the Plan.

<PAGE>

APPROVED THIS EFFECTIVE DAY THE 11TH DAY OF JUNE BY A MAJORITY OF THE BOARD OF
DIRECTORS.

/s/      David S. Walton
-------------------------------
Director

/s/      Richard Wensel
-------------------------------
Director

/s/      Darrell Musick
-------------------------------
Director

/s/      David R. Walton
-------------------------------
Director

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