Document:

TERMINATION AND RELEASE

THIS TERMINATION AND GENERAL RELEASE (the "Termination and Release") is made and
entered into this 19th day of July 2004 by and between D &M Rental Company,
having its principal place of business at 6709 Old Branch Avenue, Camp Springs,
MD ("D&M") and Solomon Technologies, Inc. having its principal place of business
at 1400 L&R Industrial Blvd., Tarpon Springs, FL ("Solomon").

Reference is made to that certain lease agreement dated August 1, 2002 for
premises known as 7783 Benedict Avenue, Benedict, MD between D&M and Solomon
(the "Lease").

In consideration of the payments and covenants detailed below, D&M and Solomon
hereby terminate the Lease. D&M acknowledges that Solomon has delivered
possession of the premises covered by the Lease as of June 30, 2004 and returned
all keys to D&M.

D&M, for good and valuable consideration, including, without limitation, the
payment to D&M of Twenty Four Thousand Dollars ($24,000.00), by Solomon, the
sufficiency of which is hereby acknowledged, hereby remises, releases and
forever discharges, and by these presents does, for itself and its officers,
directors, shareholders, agents, employees, insurers, affiliates, successors and
assigns, hereby remise, release and forever discharge, Solomon, its officers,
directors, shareholders, agents, employees, insurers, affiliates, successors,
assigns, heirs, executors and personal representatives, of and from all manner
of action and actions, cause and causes of action, suits, debts, dues, sums of
money, accounts, reckoning, bonds, bills, specialities, covenants, contracts,
controversies, agreements, promises, variances, trespasses, damages, judgments,
extents, executions, claims and demands whatsoever in law or in equity, whether
known or unknown, suspected or unsuspected, contingent or fixed, from the
beginning of the world to the date of this general release, including, but not
limed to, any causes of action or claims in any way related to or arising out
the Lease or any matter related to any of the foregoing.

Solomon for good and valuable consideration including, but not limited to, the
release granted hereunder by D&M, the sufficiency of which is hereby
acknowledged, hereby remises, releases and forever discharges, and by these
presents does, for its officers, directors, shareholders, agents, employees,
insurers, successors and assigns, hereby remise, release and forever discharge
D&M and its officers, directors, shareholders, agents, employees, insurers,
successors, assigns, heirs, executors and personal representatives, of and from
all manner of action and actions, cause and causes of action, suits, debts,
dues, sums of money, accounts, reckoning, bonds, bills, specialties, covenants,
contracts, controversies, agreements, promises, variances, trespasses, damages,
judgments, extents, executions, claims and demands whatsoever in law or in
equity, whether known or unknown, suspected or unsuspected, contingent or fixed,
from the beginning of the world to the date of this general release, including,
but not limited to, any causes of action or claims in any way related to or
arising out of the Lease or any matter related to the forgoing.

D&M and Solomon agree that telecopied or "faxed" agreements are binding on both
parties. In order to expedite the finalization of this agreement, the parties
shall execute faxed copies, but will also execute two (2) original agreements.
<PAGE>

This Termination and Release shall be effective upon D&M receiving in good and
immediately available funds from Solomon the sum of $24,000 on or before July
23, 2004 and the execution by the parties hereto of this Termination and Release
and the delivery of an executed Termination and Release by each party hereto to
the other party.

In Witness Whereof the parties have executed this agreement the day and date
first written above.

WITNESSED BY:

                                           D&M RENTAL COMPANY

/s/ Donna M. Zupamlic                      By: /s/ Donald E. Smokinski
---------------------                          -----------------------
Name:                                          Donald E. Smolinski
                                               Title: Owner
Name:  Donna M. Zupamlic

                                            SOLOMON TECHNOLOGIES, INC.

________________________                   By: /s/ Peter W. DeVecchis, Jr.
                                               ---------------------------
Name:                                          Peter W. Devecchis, Jr.
Name:                                          President

________________________
Name:THIS NOTE AND THE COMMON SHARES  ISSUABLE UPON  CONVERSION OF THIS NOTE HAVE NOT
BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED,  OR ANY APPLICABLE
STATE  SECURITIES  LAWS.  EXCEPT  AS  CONTEMPLATED  BY THE  SECURITIES  PURCHASE
AGREEMENT AMONG AGU  ENTERTAINMENT  CORP., ITS DIRECT AND INDIRECT  SUBSIDIARIES
AND THE ORIGINAL  HOLDER OF THIS NOTE,  THIS NOTE AND THE COMMON SHARES ISSUABLE
UPON  CONVERSION  OF THIS NOTE MAY NOT BE SOLD,  OFFERED  FOR SALE,  PLEDGED  OR
HYPOTHECATED  IN THE ABSENCE OF AN EFFECTIVE  REGISTRATION  STATEMENT AS TO THIS
NOTE OR SUCH UNDERLYING SHARES OF COMMON STOCK UNDER SAID ACT AND ANY APPLICABLE
STATE  SECURITIES LAWS OR AN OPINION OF COUNSEL  REASONABLY  SATISFACTORY TO AGU
ENTERTAINMENT CORP. THAT SUCH REGISTRATION IS NOT REQUIRED.

                          SECURED CONVERTIBLE TERM NOTE

         FOR  VALUE  RECEIVED,  AGU  Entertainment  Corp.  ("AGU"),  a  Delaware
corporation,  The Tube Music Network,  Inc., a Florida corporation,  and Pyramid
Records   International,   Inc.,  a  Florida   corporation,   (collectively  the
"BORROWER"),   hereby   jointly  and  severally   promise  to  pay  to  Mitchell
Entertainment  Company,  a  Delaware  limited  liability  company,  7220 NW 36th
Street, Suite 100, Miami, Florida 33166 (the "HOLDER") or its registered assigns
or successors in interest,  on order, the aggregate sum of Three Million Dollars
($3,000,000)  (the  "PRINCIPAL  AMOUNT"),  together  with any accrued and unpaid
interest  hereon,  on December 19, 2006 (the "MATURITY DATE") if not sooner paid
or extended.

         Capitalized  terms  used  herein  without  definition  shall  have  the
meanings ascribed to such terms in that certain  Securities  Purchase  Agreement
dated as of the date hereof  between the Borrower and the Holder (the  "PURCHASE
AGREEMENT").

         The following terms shall apply to this Note:

                                   ARTICLE I

                                    INTEREST

      1.1 Interest Rate. Subject to Section 3.10,  interest payable on this Note
shall  accrue at a rate per annum (the  "INTEREST  RATE") equal to the lesser of
(a) the maximum rate permitted  under  applicable  law, or (b) ten percent (10%)
per annum. Interest shall be calculated on the basis of a 360-day year. Interest
on the Principal Amount shall be payable monthly (pro-rated for partial months),
in  arrears,  commencing  on  January  1,  2005  and on the  first  day of  each
consecutive  calendar  month  thereafter  and on the Maturity  Date,  whether by
acceleration or otherwise.

      1.2  Prepayment.  The  Borrower  may  prepay  all  or any  portion  of the
outstanding  Principal Amount at any time prior to the Maturity Date without the
consent of the Holder; provided that such prepayment shall be accompanied by all
interest  that has  accrued and remains  unpaid  with  respect to the  Principal
Amount being prepaid.
<PAGE>

      1.3  Additional  Rights of the  Holder.  In the  event the  Borrower's
EBITDA for the calendar  quarter  ending  September  30, 2006 shall not equal at
least  $5,000,000,  the Holder  shall  have the right (but not the  obligation),
exercisable  by delivery of written notice to the Borrower prior to the Maturity
Date,  to extend the Maturity Date to March 31, 2007. If the Maturity Date is so
extended and the  Borrower's  EBITDA does not equal  $5,000,000 for the calendar
quarter ending December 31, 2006 (this quarter and each quarter thereafter which
immediately precedes the calendar quarter ending on the then applicable Maturity
Date, is hereinafter referred to as an "EBITDA Measuring  Quarter"),  the Holder
shall  have the right  (but not the  obligation),  exercisable  by  delivery  of
written  notice to the Borrower  prior to March 31, 2007,  to extend the term of
the Note for an  additional  calendar  quarter.  The Holder  shall then have the
continuing  right (but not the  obligation),  exercisable by delivery of written
notice to the Borrower prior to the then applicable  Maturity Date, to so extend
the term of the Note for an additional calendar quarter if the Borrower's EBITDA
for the applicable  Measuring  Quarter does not at least equal  $5,000,000.  For
purposes of this Agreement,  the Borrower's  EBITDA shall be its earnings before
interest,  taxes,  depreciation and amortization,  as determined under generally
accepted  accounting  principles on a  consolidated  basis.  The Borrower  shall
notify the Holder in writing of the Borrower's  EBITDA within 45 days of the end
of the applicable  EBITDA Measuring  Quarter,  failing which the EBITDA shall be
deemed to be less than $5,000,000 for such period.

            (b) In the event the  Borrower's  operating  cash receipts do not at
least  equal the  Borrower's  operating  expenses  for  calendar  year 2005,  as
reasonably  determined  (and  certified to) by the  Borrower's  Chief  Financial
Officer, the Holder shall have the right, upon delivery of written notice to the
Borrower,  to make all sums of principal  and  interest  then  remaining  unpaid
hereon to be due and  payable in 60  calendar  days from the date of delivery of
such notice.

            (c) In the event of the  cessation,  for any  reason,  of the active
participation  of all of Michael Jay Solomon,  Les Garland and David Levy in the
day-to-day  business  of the  Company,  the Holder  shall  have the right,  upon
delivery of written  notice to the  Borrower,  to make all sums of principal and
interest  then  remaining  unpaid  hereon to be due and  payable  in sixty  (60)
calendar days from the date of delivery of such notice.

                                   ARTICLE II

                                CONVERSION RIGHTS

      2.1  Holder's  Conversion  Rights.  The Holder shall have the right at any
time and from time to time, but not the obligation except as provided in Section
2.3 below,  to convert  all or any  portion  of the then  aggregate  outstanding
Principal Amount, together with interest due hereon, into shares of Common Stock
subject to the terms and  conditions  set forth in this Article II. In addition,
in the event all or any portion of the Principal  Amount is prepaid  pursuant to
Section  1.2 above,  the Holder  shall have the  continuing  right and option to
purchase  shares of Common Stock upon all terms and conditions set forth in this
Article II with an aggregate  purchase  price equal to the  Principal  Amount so
prepaid.  Such right and option shall expire on the Maturity  Date, as extended,
pursuant to Section 1.3 hereof.  The Holder may exercise  such right by delivery
to the  Borrower  of a written  notice of  conversion  not less than one (1) day
prior to the date upon which such  conversion  shall occur.  The date upon which
such  conversion  shall  occur is (the  "Conversion  Date").

                                       2
<PAGE>

      2.2 Mechanics of Holder's Conversion.  In the event and at each occurrence
that the Holder  elects to convert  all or any  portion of this Note into Common
Stock,  the Holder shall give notice of such  election by delivering an executed
and completed notice of conversion  ("NOTICE OF CONVERSION") to the Borrower and
such Notice of Conversion shall provide a breakdown in reasonable  detail of the
Principal Amount and accrued  interest being converted.  On each Conversion Date
(as hereinafter  defined) and in accordance  with its Notice of Conversion,  the
Holder shall make the appropriate  reduction to the Principal Amount and accrued
interest as entered in its records (or deliver payment, as applicable) and shall
provide  written  notice  thereof to the Borrower  within two (2) business  days
after  the  Conversion  Date.  Each  date on which a  Notice  of  Conversion  is
delivered  to the Borrower in  accordance  with the  provisions  hereof shall be
deemed a Conversion  Date. A form of Notice of  Conversion to be employed by the
Holder is annexed hereto as Exhibit A.

            (b) Pursuant to the terms of the Notice of Conversion,  the Borrower
will issue  instructions  to the  transfer  agent  accompanied  by an opinion of
counsel  within three (3) business  days of the date of the delivery to Borrower
of the Notice of Conversion  and shall cause the transfer  agent to transmit the
certificates  representing the Conversion  Shares to the Holder by crediting the
account of the Holder's  designated broker with the Depository Trust Corporation
through its Deposit Withdrawal Agent Commission  system, if then applicable,  or
otherwise by issuing a certificate, within three (3) business days after receipt
by the Borrower of the Notice of Conversion.  In the case of the exercise of the
conversion  rights set forth herein the conversion  privilege shall be deemed to
have been  exercised and the  Conversion  Shares  issuable upon such  conversion
shall be deemed to have been issued upon the date of receipt by the  Borrower of
the Notice of  Conversion.  The Holder  shall be treated for all purposes as the
record  holder of such Common  Stock,  unless the Holder  provides  the Borrower
written instructions to the contrary.

      2.3  Mandatory  Conversion.  At any time  after  December  16,  2005,  the
Borrower  shall  have the  right to cause  the  Holder  to  convert  the  entire
Principal  Amount  into  shares of Common  Stock  provided  (a) all shares to be
acquired by the Holder shall be freely tradable without restriction  whatsoever,
(b) the  Principal  Market  for the  Common  Stock  shall be either the NASD OTC
Bulletin Board,  the NASDAQ  SmallCap  Market,  the National Market System,  the
American  Stock  Exchange or the New York Stock  Exchange,  (c) the Common Stock
shall have closed on the Principal  Market at a price of not less than $5.00 per
share for ninety (90)  consecutive  trading  days  within the one hundred  (100)
trading days  terminating  on the last trading day prior to the date of delivery
of the Mandatory  Conversion Notice to the Holder,  (d) the Borrower delivers to
the Holder a certificate of the President, Chief Financial Officer and Secretary
of the  Borrower  confirming  that  none of such  persons  knows  of any fact or
circumstance  affecting the Borrower that would reasonably and foreseeably cause
the closing  price of the Common  Stock to fall below $5.00 per share during the
next thirty  (30)  trading  days on the  Principal  Market,  and (e) no Event of
Default hereunder exists and is continuing.

                                       3
<PAGE>

      2.4 Conversion Mechanics.

            (a) The  number of shares  of  Common  Stock to be issued  upon each
conversion  of this Note shall be  determined  by dividing  that  portion of the
principal  and  interest  to be  converted,  if  any,  by  the  then  applicable
Conversion Price. The initial Conversion Price shall be $1.50 per share.

            (b) The  Conversion  Price  and  number  and kind of shares or other
securities to be issued upon  conversion  is subject to adjustment  from time to
time upon the  occurrence  of certain  events,  as  follows:

                  A. Stock Splits, Combinations and Dividends. In the event that
the Company shall (a) issue additional  shares of the Common Stock as a dividend
or other distribution on outstanding Common Stock, (b) subdivide its outstanding
shares of Common  Stock,  or (c)  combine its  outstanding  shares of the Common
Stock into a smaller  number of shares of the Common  Stock,  then, in each such
event,  the Conversion  Price shall,  simultaneously  with the happening of such
event, be adjusted by multiplying the then Conversion  Price by a fraction,  the
numerator  of which  shall be the number of shares of Common  Stock  outstanding
immediately prior to such event and the denominator of which shall be the number
of shares of Common  Stock  outstanding  immediately  after such event,  and the
product so obtained shall thereafter be the Conversion Price then in effect. The
Conversion  Price,  as so adjusted,  shall be readjusted in the same manner upon
the  happening  of any  successive  event or  events  described  herein  in this
Section.

                  B. During the period the conversion right exists, the Borrower
will reserve from its authorized and unissued  Common Stock a sufficient  number
of shares to provide for the issuance of Common  Stock upon the full  conversion
of the  principal  amount  of this  Note.  The  Borrower  represents  that  upon
issuance,  such  shares  will  be  duly  and  validly  issued,  fully  paid  and
non-assessable.  The  Borrower  agrees  that its  issuance  of this  Note  shall
constitute full authority to its officers,  agents,  and transfer agents who are
charged with the duty of executing and issuing stock certificates to execute and
issue the necessary  certificates for shares of Common Stock upon the conversion
of this Note.

                  C. Share Issuances.  Subject to the provisions of this Section
2.4, if the Borrower  shall at any time prior to the  expiration of the Holder's
conversion  rights,  issue any shares of Common Stock or securities  convertible
into  Common  Stock to a person  other than the Holder for a  consideration  per
share (the "Offer Price") less than the  Conversion  Price in effect at the time
of such issuance,  then the Conversion Price shall be immediately  reset to such
lower Offer  Price.  For  purposes  hereof,  the issuance of any security of the
Borrower  convertible  into or  exercisable  or  exchangeable  for Common  Stock
("Convertible Securities") shall result in an adjustment to the Conversion Price
at the time of  issuance of such  Convertible  Securities.  Notwithstanding  the
foregoing,  no adjustment  will be made under this Section 2.4 in respect of any
Excluded Stock. Excluded Stock" means any shares of Common Stock or Common Stock
equivalents issued or issuable to the persons and entities described on Schedule
4.3 of the Securities Purchase Agreement.  This exclusion shall not apply to any
future  issuances of Common Stock unless issued to one of the named  individuals
or entities on such Schedule.

                  D.  Reclassification,  etc. If the Borrower at any time shall,
by  reclassification  or  otherwise,  change the Common Stock into the same or a
different  number  of  securities  of any class or  classes,  this  Note,  shall
thereafter  be deemed to evidence  the right to  purchase an adjusted  number of
such securities and kind of securities as would have been issuable as the result
of such  change  with  respect to the  Common  Stock  immediately  prior to such
reclassification or other change.

                                       4
<PAGE>

                  E. EBITDA. In the event the Borrower's EBITDA for its calendar
quarter ended  September  30, 2006 is not at least  $5,000,000,  the  Conversion
Price shall be reset as of September 30, 2006 to the closing price of the Common
Stock on the Principal Market on the last trading day in such calendar  quarter,
if such closing price is less than the  Conversion  Price in effect on such last
trading day.

      2.5 Issuance of New Note. Upon any partial  conversion of this Note, a new
Note  containing the same date and provisions of this Note shall, at the request
of the Holder, be issued by the Borrower to the Holder for the principal balance
of this Note and  interest  which  shall not have been  converted  or paid.  The
Borrower will pay no costs,  fees or any other  consideration  to the Holder for
the production and issuance of a new Note.

                                  ARTICLE III

                                EVENTS OF DEFAULT

      Upon the  occurrence  and  continuance  of an Event of Default  beyond any
applicable grace period, the Holder may make all sums of principal, interest and
other fees then remaining unpaid hereon and all other amounts payable  hereunder
immediately due and payable.

      The  occurrence  of any  of the  following  events  respecting  any of the
entities constituting the Borrower is an "EVENT OF DEFAULT":

      3.1 Failure to Pay  Principal,  Interest or other Fees. The Borrower fails
to pay when due any  installment of principal,  interest or other fees hereon in
accordance herewith,  or the Borrower fails to pay when due any amount due under
any other promissory note issued by Borrower, and in any such case, such failure
shall  continue for a period of three (3) days following the date upon which any
such payment was due.

      3.2 Breach of Covenant.  The Borrower  breaches any covenant or other term
or condition of this Note or the Purchase  Agreement in any material respect and
such  breach,  if subject to cure,  continues  for a period of fifteen (15) days
after the occurrence thereof.

      3.3 Breach of Representations and Warranties.  Any material representation
or warranty of the Borrower made herein,  in the Purchase  Agreement,  or in any
Related  Document  (as  defined  in the  Purchase  Agreement)  shall be false or
misleading on the date that such  representation  or warranty was made or deemed
made, and if subject to cure, shall not be cured for a period of ten (10) days.

                                       5
<PAGE>

      3.4 Receiver or Trustee.  The Borrower  shall make an  assignment  for the
benefit of creditors,  or apply for or consent to the  appointment of a receiver
or trustee for it or for a substantial part of its property or business; or such
a receiver or trustee shall otherwise be appointed.

      3.5 Judgments.  Any money judgment, writ or similar final process shall be
entered or filed against the Borrower or any of its property or other assets for
more than  $200,000,  and shall  remain  unvacated,  unbonded or unstayed  for a
period of thirty (30) days.

      3.6  Bankruptcy.  Bankruptcy,  insolvency,  reorganization  or liquidation
proceedings  or other  proceedings or relief under any bankruptcy law or any law
for the relief of debtors shall be instituted by or against the Borrower.

      3.7 Stop Trade. Upon commencement of trading on a Principal Market, an SEC
stop trade order or  Principal  Market  trading  suspension  of the Common Stock
shall be in  effect  for ten (10)  consecutive  business  days or ten (10)  days
during a period  of  twenty  (20)  consecutive  days,  excluding  in all cases a
suspension  of all trading on a Principal  Market,  provided  that the  Borrower
shall not have been able to cure such trading suspension within thirty (30) days
of the  notice  thereof or list the Common  Stock on  another  Principal  Market
within sixty (60) days of such  notice.  The  "Principal  Market" for the Common
Stock shall include the NASD OTC Bulletin Board, NASDAQ SmallCap Market,  NASDAQ
National  Market  System,  American Stock  Exchange,  or New York Stock Exchange
(whichever  of the foregoing is at the time the  principal  trading  exchange or
market for the Common  Stock,  or any  securities  exchange or other  securities
market on which the Common Stock is then being listed or traded.

      3.8 Failure to Deliver  Common  Stock or  Replacement  Note.  The Borrower
shall fail to timely deliver  Common Stock to the Holder  pursuant to and in the
form  required by this Note,  and Section 9 of the Purchase  Agreement,  if such
failure to timely  deliver Common Stock shall not be cured within five (5) days.
If Borrower shall be required to issue a replacement Note to Holder and Borrower
shall fail to deliver such  replacement  Note within seven (7) business  days of
the request for the replacement Note.

      3.9 Default Under Related  Agreements.  The occurrence and  continuance of
any Event of Default as defined in the Related  Agreements.

      3.10 Payment Grace Period.  . Following the occurrence and  continuance of
an Event of Default,  the Borrower shall pay the Holder a default  interest rate
of the lesser of (a) the maximum rate  permitted by law, or (b) 18% per annum on
all  amounts  due and owing  under the Note,  which  default  interest  shall be
payable upon demand.  Presentment,  demand,  protest, notice of dishonor and all
other  notices are hereby  waived by Borrower.

      3.11  Cumulative   Remedies.   The  remedies  under  this  Note  shall  be
cumulative.

                                   ARTICLE IV

                                  MISCELLANEOUS

      4.1 Failure or Indulgence  Not Waiver.  No failure or delay on the part of
the Holder  hereof in the exercise of any power,  right or  privilege  hereunder
shall operate as a waiver thereof,  nor shall any single or partial  exercise of
any such power, right or privilege preclude other or further exercise thereof or
of any other right,  power or  privilege.  Holder  shall not by any act,  delay,
omission or  otherwise  be deemed to have waived any of its rights or  remedies,
and no waiver of any kind shall be valid,  unless in  writing  and signed by the
Holder.  All rights and remedies  existing  hereunder are cumulative to, and not
exclusive of, any rights or remedies otherwise available.

                                       6
<PAGE>

      4.2 Notices.  Any notice herein required or permitted to be given shall be
in writing and shall be deemed  effectively given: (a) upon personal delivery to
the party notified, (b) when sent by confirmed telex or facsimile if sent during
normal  business hours of the recipient,  if not, then on the next business day,
(c) five days after having been sent by  registered  or certified  mail,  return
receipt requested, postage prepaid, or (d) one business day after deposit with a
nationally  recognized  overnight  courier,  specifying next day delivery,  with
written  verification  of  receipt.  All  communications  shall  be  sent to the
Borrower  at  the  address  provided  in  the  Purchase  Agreement  executed  in
connection  herewith,  and to the Holder at the address provided in the Purchase
Agreement for such Holder,  with a copy to Robert S. Barry,  Jr.,  Esq.,  Loeb &
Loeb LLP,  10100 Santa Monica  Boulevard,  Suite 2200,  Los Angeles,  California
90067,  facsimile number (310) 282-2200, and a copy to Howard L. Friedberg Esq.,
2699 South Bayshore Drive,  7th Floor,  Miami,  Florida 33133,  facsimile number
(305)  854-0740,  or at such  other  address as the  Borrower  or the Holder may
designate by ten days advance  written  notice to the other  parties  hereto.  A
Notice of Conversion shall be deemed given when made to the Borrower pursuant to
the Purchase Agreement.

      4.3 Amendment  Provision.  The term "Note" and all reference  thereto,  as
used  throughout  this  instrument,  shall mean this  instrument  as  originally
executed,  or  if  later  amended  or  supplemented,   then  as  so  amended  or
supplemented,  and any  successor  instrument  issued  pursuant  to Section  2.5
hereof, as it may be amended or supplemented.

      4.4  Assignability.  This Note shall be binding  upon the Borrower and its
successors  and  assigns,  and shall  inure to the benefit of the Holder and its
successors and assigns, and may be assigned by the Holder in accordance with the
requirements of the Purchase Agreement.

      4.5  Governing  Law.  This Note  shall be  governed  by and  construed  in
accordance  with the laws of the State of Florida,  without regard to principles
of  conflicts  of laws.  Any action  brought by either  party  against the other
concerning the transactions contemplated by this Agreement shall be brought only
in the state  courts of Florida  lying in  Broward  County,  Florida,  or in the
federal courts located in the State of Florida. Borrower agrees to submit to the
jurisdiction  of such  courts.  In the event that any  provision of this Note is
invalid or unenforceable  under any applicable statute or rule of law, then such
provision  shall  be  deemed  inoperative  to the  extent  that it may  conflict
therewith  and shall be deemed  modified to conform with such statute or rule of
law. Any such provision which may prove invalid or  unenforceable  under any law
shall not affect the validity or unenforceability of any other provision of this
Note. Nothing contained herein shall be deemed or operate to preclude the Holder
from  bringing  suit or taking  other legal  action  against the Borrower in any
other  jurisdiction  to  collect on the  Borrower's  obligations  to Holder,  to
realize on any  collateral  or any other  security for such  obligations,  or to
enforce a judgment or other court in favor of the Holder.

      4.6 Maximum Payments. In no event shall the Holder be entitled to unearned
or unaccrued  interest or other charges or rebates,  except as may be authorized
by law, and should any  interest or other  charges paid by the Borrower or other
parties liable for the payment of this Note result in the computation or earning
of interest in excess of the maximum rate of interest that is legally  permitted
under  applicable  law,  then any and all such  excess  shall be and the same is
hereby waived by the Holder,  and any and all such excess shall be automatically
credited  against and reduce the balance  due under this  indebtedness,  and the
portion of said excess  which  exceeds the balance due under this  indebtedness,
shall be paid by the Holder to the Borrower  and parties  liable for the payment
of this Note.  The Holder may, in determining  the maximum rate permitted  under
applicable  law in effect from time to time,  take  advantage of (i) the maximum
rate of interest  permitted  under  Florida  law or federal  law,  whichever  is
higher,  including any laws regarding  parity among lenders;  and (ii) any other
law,  rule or  regulation  in effect from time to time  available to the Holder,
which exempts the Holder from any limit upon the rate of interest it may charge,
or grants to the Holder the right to charge a higher rate of interest  than that
permitted by Chapter 687, Florida  Statutes.  In determining  whether or not the
interest  paid or payable  under any  specific  contingency  exceeds the highest

                                       7
<PAGE>

lawful rate, the Holder shall, to the maximum extent  permitted under applicable
law (a) characterize  any  non-principal  payment as an expense,  fee or premium
rather than as  interest,  (b)  exclude  voluntary  prepayments  and the effects
thereof,  and (c) "spread" the total amount of interest  throughout  the maximum
term of the  obligation  so that the  interest  rate is uniform  throughout  the
entire term of the obligation.

      4.7 Security Interest. The holder of this Note has been granted a mortgage
and security  interest in certain assets of the Borrower more fully described in
the Mortgage and Security Agreement.

      4.8  Construction.   Each  party   acknowledges  that  its  legal  counsel
participated in the preparation of this Note and, therefore, stipulates that the
rule of construction  that  ambiguities are to be resolved  against the drafting
party shall not be applied in the interpretation of this Note to favor any party
against the other.

      4.9 Cost of  Collection.  If default is made in the  payment of this Note,
the Borrower shall pay to Holder all costs of collection,  including  reasonable
attorneys'  fees,  incurred  through all levels of proceedings,  whether suit be
instituted or not.

      4.10 WAIVER OF TRIAL BY JURY. THE BORROWER AND THE HOLDER HEREBY MUTUALLY,
KNOWINGLY,  WILLINGLY AND VOLUNTARILY  WAIVE THEIR RIGHT TO TRIAL BY JURY AND NO
PARTY, NOR ANY ASSIGNEE, SUCCESSOR, HEIR, OR LEGAL REPRESENTATIVE OF THE PARTIES
(ALL OF WHOM ARE  HEREINAFTER  REFERRED TO AS THE  "PARTIES")  SHALL SEEK A JURY
TRIAL  IN  ANY  LAWSUIT,  PROCEEDING,  COUNTERCLAIM,  OR  ANY  OTHER  LITIGATION
PROCEEDING BASED UPON OR ARISING OUT OF THIS NOTE OR THE LOAN DOCUMENTS,  OR ANY
INSTRUMENT  EVIDENCING,  SECURING,  OR  RELATING TO THE  INDEBTEDNESS  AND OTHER
OBLIGATIONS  EVIDENCED HEREBY OR ANY RELATED AGREEMENT OR INSTRUMENT,  ANY OTHER
COLLATERAL FOR THE INDEBTEDNESS EVIDENCED HEREBY OR ANY COURSE OF ACTION, COURSE
OF DEALING,  STATEMENTS  (WHETHER VERBAL OR WRITTEN) OR ACTIONS  RELATING TO THE
LOAN OR TO THIS NOTE. THE PARTIES ALSO WAIVE ANY RIGHT TO CONSOLIDATE ANY ACTION
IN WHICH A JURY  TRIAL HAS BEEN  WAIVED,  WITH ANY OTHER  ACTION IN WHICH A JURY
TRIAL HAS NOT BEEN WAIVED.  THE  PROVISIONS  OF THIS  PARAGRAPH  HAVE BEEN FULLY
NEGOTIATED  BY  THE  PARTIES.   THE  WAIVER  CONTAINED  HEREIN  IS  IRREVOCABLE,
CONSTITUTES  A  KNOWING  AND  VOLUNTARY  WAIVER,  AND  SHALL  BE  SUBJECT  TO NO
EXCEPTIONS.  THE HOLDER HAS IN NO WAY AGREED WITH OR REPRESENTED TO THE BORROWER
OR ANY OTHER  PARTY  THAT THE  PROVISIONS  OF THIS  PARAGRAPH  WILL NOT BE FULLY
ENFORCED IN ALL INSTANCES.

       [Balance of page intentionally left blank; signature page follows.]

                                       8
<PAGE>

      IN WITNESS  WHEREOF,  Borrower has caused this Convertible Term Note to be
signed in its name effective as of this 20th day of December, 2004.

                             AGU Entertainment Corp., a Delaware corporation

                             By: /s/ David C. Levy
                                 -----------------------------
                             Name:  David C. Levy
                             Title:  President and Secretary

                             The Tube Music Network, Inc., a Florida corporation

                             By: /s/ David C. Levy
                                 ------------------------------
                             Name:  David C. Levy
                             Title:  President and Secretary

                             Pyramid Records International, Inc., a Florida
                             corporation

                             By: /s/ David C. Levy
                                 ------------------------------
                             Name:  David C. Levy
                             Title:  President and Secretary

                                       9
<PAGE>

                                    EXHIBIT A

                              NOTICE OF CONVERSION

      (To be  executed by the Holder in order to convert all or part of the Note
                               into Common Stock)

AGU Entertainment Corp.
3200 West Oakland Park Boulevard
Lauderdale, Florida  33311

The  Undersigned  hereby  converts  $_________  of the principal due on [SPECIFY
APPLICABLE  REPAYMENT  DATE]  under  the  Convertible  Term  Note  issued by AGU
Entertainment  Corp.  dated as of  December  20,  2004 by  delivery of Shares of
Common Stock of AGU  Entertainment  Corp. on and subject to the  conditions  set
forth in Article II of such Note.

1.       Date of Conversion         _______________________

2.       Shares To Be Delivered:    _______________________

                                          By:_______________________________
                                          Name:_____________________________
                                          Title:______________________________

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