Document:

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                          THE BAUER PARTNERSHIP, INC.
                      2003 NON-QUALIFIED STOCK OPTION PLAN

1.     Purpose.  This  2003  Non-Qualified  Stock  Option  Plan  (the "Plan") is
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intended  to  promote  the  financial  success  and  interests  of  The  Bauer
Partnership,  Inc.  (the "Company") and materially increase shareholder value by
giving  incentives  to  officers  and  other  employees  and  directors  of  and
consultants  and advisors to the Company, its parent (if any) and any present or
future  subsidiaries  of  the  Company  (collectively,  "Related  Corporations")
through  providing  opportunities  to  acquire  stock  in  the Company.  As used
herein,  the  terms  "parent"  and  "subsidiary"  mean  "parent corporation" and
"subsidiary  corporation",  respectively, as those terms are defined in Sections
424(e)  and  424(f) or successor provisions of the Internal Revenue Code of 1986
as  amended  from  time  to time (the "Code").  Any proceeds of cash or property
received by the Company for the sale of The Bauer Partnership, Inc. Common Stock
pursuant  to  options granted under this Plan will be used for general corporate
purposes.

     2.     Structure  of  the  Plan.  The  Plan  permits the following separate
            ------------------------
types  of  grant:

     A.  Options  may be granted hereunder to purchase shares of common stock of
the  Company.  These options may not meet the requirements of Section 422 of the
Code ("Non-Qualified Options").  Non-Qualified Options are sometimes referred to
hereinafter  as  "Options".

     B.  Awards  of  stock  in  the  Company  ("Awards")  may  be  granted.

     C.  Opportunities  to  make  direct  purchases  of  stock  in  the  Company
("Purchases")  may  be  authorized.

Options,  Awards  and authorizations to make Purchases are sometimes referred to
hereinafter  as  "Stock  Rights".

     3.     Administration  of  the  Plan.
            -----------------------------

     A.  The Plan shall be administered by the Board of Directors of the Company
(the  "Board").  The  Board  may in its sole discretion grant Options, authorize
Purchases  and  grant Awards, as provided in the Plan. The Board shall have full
power  and authority, subject to the express provisions of the Plan, to construe
and  interpret  the  Plan and all Option agreements, Purchase authorizations and
Award  grants  thereunder,  to  establish,  amend  and  rescind  such  rules and
regulations  as  it  may  deem  appropriate for the proper administration of the
Plan,  to determine in each case the terms and provisions which shall apply to a
particular Option agreement, Purchase authorization, or Award grant, and to make
all  other  determinations  which  are,  in  the  Board's judgment, necessary or
desirable  for the proper administration of the Plan.  The Board may correct any
defect, supply any omission or reconcile any inconsistency in the Plan or in any
Option agreement, Purchase authorization or Award grant in the manner and to the
extent  it  shall,  in its sole discretion, consider expedient. Decisions of the
Board shall be final and binding on all parties who have an interest in the Plan
or  any  Option,  Purchase, Award, or stock issuance thereunder.  No director or
person  acting  pursuant to authority delegated by the Board shall be liable for
any  action  or  determination  under  the  Plan  made  in  good  faith.

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     B.  The  Board  may,  to  the  full extent permitted by and consistent with
applicable  law  and  the  Company's  By-laws,  and  subject  to  Subparagraph D
hereinbelow,  delegate  any  or  all  of  its  powers  with  respect  to  the
administration  of  the  Plan  to a committee (the "Committee") appointed by the
Board.  If  a  Committee  has been appointed, all references in this Plan to the
Board  shall  mean  and  relate  to  that  Committee.

     C.  Those  provisions  of  this  Plan  which make express reference to Rule
16b-3  under  the  Securities  Exchange  Act  of 1934, as amended (the "Exchange
Act"),  or any successor rule ("Rule 16b-3"), or which are required in order for
certain  option  transactions  to  qualify for exemption under Rule 16b-3, shall
apply  only to those persons required to file reports under Section 16(a) of the
Exchange  Act  (a  "Reporting  Person").

     D.  If  the Company registers any class of equity security under Section 12
of  the  Exchange  Act,  the selection of a director or an officer (as the terms
"director"  and "officer" are defined for purposes of Rule 16b-3) as a recipient
of  an  option, the timing of the option grant, the exercise price of the option
and the number of shares subject to the option shall be determined either (i) by
the  Board,  if  all  of  the Board members are disinterested persons within the
meaning of Rule 16(b)(3), or (ii) by two or more directors having full authority
to  act  in  the  matter,  each  of  whom  shall be such a disinterested person.

     4.   Eligible  Employees  and  Others.  Non-Qualified  Options, Awards, and
          --------------------------------
authorizations  to  make  Purchases  may  be granted to any employee, officer or
director of, or consultant or advisor to the Company or any Related Corporation,
except  for instances where services are in connection with the offer or sale of
securities  in  a  capital-raising  transaction,  or they directly or indirectly
promote  or  maintain  a  market  for  the Company's securities.  In making such
determinations,  the Board and/or the Committee may take into account the nature
of  the  services  rendered  by  such  person, his or her present  and potential
contribution  to  the  Company's  success, and such other factors as the Company
and/or  Committee  in  its  discretion shall deem relevant.  The granting of any
Stock Right to any individual or entity shall neither entitle that individual or
entity  to,  nor  disqualify him from, participation in any other grant of Stock
Rights.

     5.     Stock.  The  stock subject to Options, Awards and Purchases shall be
            -----
authorized  but unissued shares of common stock of the Company ("Common Stock"),
or  shares  of  Common  Stock  reacquired  by  the  Company  in any manner.  The
aggregate  number  of  shares  which may be issued under the Plan is Ten Million
(10,000,000),  subject to adjustment as provided in Paragraph 13.  If any Option
granted  under  the Plan shall expire or terminate for any reason without having
been  exercised in full or shall cease for any reason to be exercisable in whole
or  in  part,  or  if  the  Company  shall reacquire any nonvested shares issued
pursuant  to Awards or Purchases, the unpurchased shares subject to such Option,
or  such  nonvested  shares so reacquired shall again be available for grants of
Stock  Rights  under  the  Plan.  No  fractional shares of Common Stock shall be
issued,  and  the  Board  and/or  Committee  shall determine the manner in which
fractional  share  value  shall  be  treated.

     6.     Option  Agreements.  As  a condition to the grant of an Option, each
            ------------------
recipient  of  an  Option  shall  execute  an  option agreement in such form not
inconsistent  with the Plan as the Board shall approve.  These option agreements
may  differ  among  recipients.  The  Board may, in its sole discretion, include

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additional  provisions  in  option  agreements,  including  without  limitation
restrictions on transfer, repurchase rights, commitments to pay cash bonuses, to
make,  arrange for or guarantee loans or to transfer other property to optionees
upon exercise of options, or such other provisions as shall be determined by the
Board;  provided,  however,  that  such  additional  provisions  shall  not  be
inconsistent  with  any  provision  of  the  Plan

     7.     Option  Exercise  Price.
            -----------------------

     A.  Subject  to  Subparagraph  3D of this Plan and Subparagraphs B and C of
this  Paragraph 7, the purchase price per share of Common Stock deliverable upon
the  exercise  of an Option ("exercise price") shall be determined by the Board.

     B  The  exercise  price of each Non-Qualified Option granted under the Plan
shall  in  no event be less than the par value per share of the Company's Common
Stock.

     8.     Cancellation  and  New  Grant of Options, Etc.  The Board shall have
            ---------------------------------------------
the  authority to effect, at any time and from time to time, with the consent of
the  affected  optionees, the cancellation of any or all outstanding Options and
the grant in substitution therefor of new Options covering the same or different
shares of Common Stock and having an exercise price per share which may be lower
or  higher  than  the  exercise  price  per  share  of  the  canceled  Options.

     9.     Exercise  of  Options.
            ---------------------

     A.  Each  Option granted under the Plan shall be exercisable either in full
or  in installments at such time or times and during such period as shall be set
forth  in  the agreement evidencing the Option, subject to the provisions of the
Plan.  The  partial  exercise  of  an  option  shall  not  cause the expiration,
termination or cancellation of the remaining portion thereof.  The Board may, in
its  sole  discretion,  (i)  accelerate  the  date  or dates on which all or any
particular  Option  or  Options  granted under the Plan may be exercised or (ii)
extend  the dates during which all, or any particular, Option or Options granted
under  the  Plan  may  be  exercised.

     B.  Options  granted under the Plan may provide for payment of the exercise
price  by  any  of  the  following  methods:

     (i) In cash, by wire transfer, by certified or cashier's check, or by money
order;  or

     (ii)  By  delivery  to  the  Company  of  an  exercise  notice  that
requests  the Company to issue to the  Optionee  the full  number  of  shares as
to which the Option is then exercisable,  less the  number  of shares  that have
an  aggregate  Fair  Market  Value,  as  determined  by  the  Board  in its sole
discretion  at  the  time of exercise,  equal to the aggregate purchase price of
the shares to which such exercise relates.  (This  method of exercise allows the
Optionee  to  use  a portion of the shares issuable at the time of  exercise  as
payment for the shares to which the option relates and is often referred to as a
"cashless  exercise."  For  example,  if  the  Optionee elects to exercise 1,000
shares  at  an exercise price of $0.25 and the current  Fair Market Value of the
shares on the date of exercise is $1.00,  the  Optionee can use 250 of the 1,000
shares at  $1.00 per share to pay for the  exercise  of the entire  Option  (250
x  $1.00  =  $250.00)  and  receive  only  the  remaining  750  shares.)

     For  purposes of this section, " Fair Market Value" shall be defined as the
     average  closing  price  of  the  common  stock  (if  actual  sales  price

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     information  on  any  trading  day  is not available, the closing bid price
     shall  be  used) for the five trading days prior to the Date of Exercise of
     this  Option (the "Average Closing Bid Price"), as reported by the National
     Association of Securities Dealers Automated Quotation System ("NASDAQ"), or
     if  the common stock is not traded on NASDAQ, the Average Closing Bid Price
     in the over-the-counter market; provided, however, that if the common stock
     is  listed  on a stock exchange, the Fair Market Value shall be the Average
     Closing  Bid  Price  on  such  exchange; and, provided further, that if the
     common stock is not quoted or listed by any organization, the fair value of
     the  common  stock, as determined by the Board of Directors of the Company,
     whose  determination shall be conclusive, shall be used). In no event shall
     the  Fair  Market  Value  of any share of Common Stock be less than its par
     value.

     10.     Option  Period.  Subject  to  earlier  termination  under  other
             --------------
provisions  of  this Plan, each Option and all rights thereunder shall expire on
such  date  as  shall  be  set  forth  in  the  applicable  option  agreement.

     11.     Nontransferability  of Options.  Non-Qualified options shall not be
             ------------------------------
assignable  or  transferable by the optionee, either voluntarily or by operation
of  law, except by will or the laws of descent and distribution, and, during the
life  of  the optionee, except to the extent otherwise provided in the agreement
evidencing  the  Non-Qualified  Option.

     12.     Effect  of  Termination of Employment or Other Relationship Subject
             -----------------------------------------------------------
to  all  other  provisions  of the Plan, the Board shall determine the period of
time  during  which  an  Optionee  may  exercise  an  Option  following  (i) the
termination  of the optionee's employment or other relationship with the Company
or  a Related Corporation or (ii) the death or disability of the optionee.  Such
periods  shall  be  set  forth  in  the  agreement  evidencing  the  Option.

     13.     Adjustments.
             -----------

     A.  If, through or as a result of any merger, consolidation, sale of all or
substantially  all  of  the  assets  of  the  Company,  reorganization,
recapitalization,  reclassification,  stock dividend, stock split, reverse stock
split  or  other similar transaction, (i) the outstanding shares of Common Stock
are  increased,  decreased or exchanged for a different number or kind of shares
or  other  securities  of  the  Company,  or  (ii)  additional  shares or new or
different shares or other securities of the Company or other non-cash assets are
distributed  with respect to such shares of Common Stock or other securities, an
appropriate and proportionate adjustment shall be made in (a) the maximum number
and kind of shares reserved for issuance under the Plan, (b) the number and kind
of  shares or other securities subject to any then outstanding Options under the
Plan,  and  (c) the price for each share subject to any then outstanding Options
under  the  Plan, without changing the aggregate purchase price as to which such
Options  remain exercisable. No fractional shares shall be issued under the Plan
on  account  of  any  such  adjustments.

     B.  Any  adjustments  under this Paragraph 13 shall be made by the Board of
Directors,  whose determination as to what adjustments, if any, will be made and
the  extent  thereof  shall  be  final,  binding  and  conclusive.

     14.     Rights  as  a  Shareholder.  The  holder of an Option shall have no
             --------------------------
rights  as  a  shareholder  with  respect  to  any  shares covered by the option
(including,  without  limitation,  any  voting  rights,  the right to inspect or

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receive  the  Company's  balance sheets or financial statements or any rights to
receive  dividends  or non-cash distributions with respect to such shares) until
the  date  of issue of a stock certificate for such shares.  No adjustment shall
be  made for dividends or other rights for which the record date is prior to the
date  such  stock  certificate  is  issued.

     15.     Merger,  Consolidation,  Asset  Sale,  Liquidation,  Etc.
             --------------------------------------------------------

     A.  Except as may otherwise be provided in the applicable option agreement,
in the event of a consolidation or merger or sale of all or substantially all of
the  assets  of  the  Company  in  which  outstanding shares of Common Stock are
exchanged  for  securities,  cash  or other property of any other corporation or
business  entity,  or  in  the  event of the liquidation of the Company (each, a
"Change  in  Control"),  the Board, or the board of directors of any corporation
assuming  the obligations of the Company, shall, in its discretion, take any one
or  more  of the following actions, as to outstanding Options:  (i) provide that
such  Options  shall  be assumed, or equivalent options shall be substituted, by
the  acquiring  or  succeeding  corporation (or an affiliate thereof); (ii) upon
written  notice  to  the optionees, provide that any and all outstanding Options
shall become exercisable in full (to the extent not otherwise so exercisable) as
of  a  specified  date  or  time  ("Accelerated  Vesting  Date")  prior  to  the
consummation  of  such  transaction,  and  that  all  unexercised  Options shall
terminate  as  of  a  specified  date  or  time  ("Accelerated Expiration Date")
following the Accelerated Vesting Date unless exercised by the Optionee prior to
the  Accelerated  Expiration  Date;  provided,  however, that optionees shall be
given  a  reasonable  period of time within which to exercise or provide for the
exercise  of  outstanding  Options  following such written notice and before the
Accelerated  Expiration  Date; (iii) in the event of a merger under the terms of
which  holders of the Common Stock of the Company will receive upon consummation
thereof  a  cash  payment  for each share surrendered in the merger (the "Merger
Price"),  terminate  each  outstanding Option in exchange for a payment, made or
provided  for  by  the  Company,  equal  in amount to the excess, if any, of the
Merger  Price  over  the per-share exercise price of each such Option, times the
number  of shares of Common Stock subject to such Option; or (iv) terminate each
outstanding Option in exchange for a cash payment equal in amount to the product
of  the excess, if any, of the fair market value of a share of Common Stock over
the  per-share  exercise  price  of each such Option, times the number of shares
subject  to  such  Option.  The Board shall determine the fair market value of a
share  of  Common  Stock  for  purposes  of  the  foregoing,  and  the  Board's
determination  of such fair market value shall be final, binding and conclusive.

     B.  In  the  event  of  a  Change  in  Control and to the extent the rights
described  in  this  Section  16B are not already substantially provided to each
Qualified  Option  Recipient  by  the  Board  (or  the board of directors of any
corporation  assuming  the  obligations of the Company) pursuant to Section 16A,
beginning on the date which is 180 days from the date of such Change in Control,
each  Qualified  Option  Recipient  (as  defined  below) shall have the right to
exercise  and  receive  from  the  Company  or  its  successor  their respective
Acceleration  Amount  (as  defined  below).  A  "Qualified  Option Recipient" is
defined  as  an  option  recipient  hereunder  who  both  (A)  has  maintained a
relationship  as  an  employee, officer or director of, or consultant or advisor
to,  the  Company  or  its  successor  for the 180 days immediately prior to the
Change  in  Control  and (B) on the date which is 180 days after the date of the
Change  in  Control, either (i) maintains a relationship as an employee, officer
or  director  of,  or  consultant or advisor to, the Company or its successor or
(ii) fails to maintain a relationship as an employee, officer or director of, or
consultant  or advisor to, the Company or its successor by reason of having such

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relationship  terminated  by  the Company or its successor other than for Cause,
where  "Cause"  means  willful  misconduct  or  willful  failure  of  the option
recipient to perform the responsibilities of such option recipient's agreed-upon
business  relationship  with  the  Company  or  its successor, including without
limitation  such  option  recipient's breach of any provision of any employment,
consulting,  nondisclosure,  non-competition  or  similar  agreement between the
option  recipient  and  the  Company.  With  respect  to  each  Qualified Option
Recipient,  the "Acceleration Amount" shall mean the lesser of (a) the number of
additional  shares of Common Stock (or their equivalent) which would have become
vested  pursuant  to  their  option  agreement over the twelve (12) month period
following  the  date  of the Change in Control or (b) fifty percent (50%) of the
shares  of  Common Stock (or their equivalent) which had not yet vested pursuant
to  their  option  agreement as of the date of the Change in Control.  The Board
and,  where  applicable,  the board of directors of any corporation assuming the
obligations  of  the  Company, shall take all necessary action to accomplish the
purposes  of  this  Section  16B, including all such actions as are necessary to
provide  for  the  assumption  of  such  obligation  upon the Change in Control.

     C.  The  Company  may  grant  Options  under  the  Plan in substitution for
Options  held  by  employees  of another corporation who become employees of the
Company  or  a Related Corporation as the result of a merger or consolidation of
the  employing  corporation  with  the Company or a Related Corporation, or as a
result of the acquisition by the Company or a Related Corporation of property or
stock  of  the  employing  corporation.  The  Company may direct that substitute
Options  be  granted  on  such  terms  and  conditions  as  the  Board considers
appropriate  in  the  circumstances.

     D. In the event of a Change in Control and with respect thereto, the rights
and  responsibilities  of holders of Stock Rights pursuant to this Plan shall be
governed  first  and  foremost  by  the  Company's agreement with the respective
recipient  of such Stock Rights and then, to the extent applicable, by the terms
of  this  Section  15.

     16.     Stock Restriction Agreement.  The Company may require the recipient
             ---------------------------
of  the  Award  or  Purchase  authorization  to  execute  an  agreement  ("Stock
Restriction  Agreement")  in  such form not inconsistent with the Plan as may be
approved  by  the  Board.  Stock  Restriction  Agreements  may  differ  among
recipients.  Stock  Restriction  Agreements may include any provisions the Board
determines  should  be included and that are not inconsistent with any provision
of  the  Plan.

     17.     No  Special Employment Rights.  Nothing contained in the Plan or in
             -----------------------------
any  option  agreement or other agreement or instrument executed pursuant to the
provisions  of the Plan shall confer upon any Optionee any right with respect to
the  continuation  of  his  or  her  employment  by  the  Company or any Related
Corporation  or  interfere in any way with the right of the Company or a Related
Corporation  at any time to terminate such employment or to increase or decrease
the  compensation  of  the  optionee.

     18.     Other  Employee  Benefits.  Except as to plans which by their terms
             -------------------------
include  such  amounts  as  compensation, no amount of compensation deemed to be
received by an employee as a result of the grant or exercise of an Option or the
sale  of  shares  received upon such exercise, or as a result of the grant of an
Award  or the authorization or making of a Purchase will constitute compensation
with  respect  to  which  any  other  employee  benefits  of  such  employee are

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determined,  including,  without  limitation, benefits under any bonus, pension,
profit-sharing,  life insurance or salary continuation plan, except as otherwise
specifically  determined  by  the  Board.

     19.     Amendment  of  the  Plan.
             ------------------------

     A.  The  Board  may at any time, and from time to time, modify or amend the
Plan  in  any  respect,  except  as  otherwise  expressly provided in this Plan.

     B.  The termination or any modification or amendment of the Plan shall not,
without the consent of an optionee, affect the optionee's rights under an Option
previously  granted.  With  the  consent of the Optionee affected, the Board may
amend  outstanding option agreements in a manner not inconsistent with the Plan.
The  Board  shall  have the right to amend or modify terms and provisions of the
Plan,  the terms and provisions of the Plan and of any outstanding Option to the
extent  necessary  to  ensure  the  qualification  of the Plan under Rule 16b-3.

     20.     Investment  Representations.  The  Board  may require any person to
             ---------------------------
whom  an  Option  is  granted, as a condition of exercising such Option, and any
person  to  whom an Award is granted or a Purchase is authorized, as a condition
thereof,  to  give  written assurances in substance and form satisfactory to the
Board  to  the  effect that such person is acquiring the Common Stock subject to
the  Option,  Award or Purchase for such person's own account for investment and
not  with  any  present intention of selling or otherwise distributing the same,
and to such other effects as the Company deems necessary or appropriate in order
to  comply  with federal and applicable state securities laws, or with covenants
or representations made by the Company in connection with any public offering of
its  Common  Stock.

     21.     Compliance  With  Securities Laws.  Each Option shall be subject to
             ---------------------------------
the  requirement  that  if,  at any time, counsel to the Company shall determine
that  the  listing, registration or quali-fication of the shares subject to such
Option  upon  any  securities exchange or under any state or federal law, or the
consent  or  approval  of  any  governmental  or  regulatory  body,  or that the
disclosure  of non-public information or the satisfaction of any other condition
is  necessary as a condition of, or in connection with, the issuance or purchase
of  shares  thereunder,  such  Option may not be exercised, in whole or in part,
unless  such  listing,  registration,  qualification,  consent  or  approval, or
satisfaction  of  such  condition  shall  have  been  effected  or  obtained  on
condi-tions  acceptable to the Board.  Nothing herein shall be deemed to require
the  Company  to  apply  for  or  to  obtain  such  listing,  registration  or
qualification,  or  to  satisfy  such  condition.

     22.     Withholding.  The  Company  shall  have  the  right  to deduct from
             -----------
payments  of  any kind otherwise due to the Optionee any federal, state or local
taxes  of  any  kind  required  by law to be withheld with respect to any shares
issued  upon  exercise  of Options under the Plan or upon the grant of an Award,
the  making  of  a Purchase of Common Stock for less than its fair market value,
the  making  of a Disqualifying Disposition (as defined in Paragraph 24), or the
vesting  of  restricted  Common  Stock  acquired pursuant to a Stock Right.  The
Board  in its sole discretion may condition the exercise of an Option, the grant
of  an  Award,  the  making  of  a Purchase, or the vesting of restricted shares
acquired by exercising a Stock Right on the grantee's payment of such additional
withholding  taxes.

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     23.     Effective  Date  and  Duration  of  the  Plan.
             ---------------------------------------------

     A.  The  Plan  shall  become effective when adopted by the Board, and Stock
Rights granted under the Plan shall become exercisable upon the Board's approval
of  the  Plan.  Amendments  to the Plan not requiring shareholder approval shall
become  effective  when  adopted by the Board. Stock Rights may be granted under
the Plan at any time after the effective date and before the termination date of
the  Plan.

     B.  Unless  sooner terminated as provided elsewhere in this Plan, this Plan
shall  terminate  upon the close of business on the day next preceding the tenth
anniversary  of the date of its adoption by the Board.  Stock Rights outstanding
on  such  date  shall  continue  to have force and effect in accordance with the
provisions  of  the  instruments  evidencing  such  Stock  Rights.

              Adopted by the Board of Directors on January 9, 2003.

                                        8

<PAGE>EXHIBIT 10.1

                          SUBSCRIPTION ESCROW AGREEMENT

      SUBSCRIPTION ESCROW AGREEMENT (the "Agreement") executed this _____day of
December 2002 ("Effective Date") by and among AmeriFirst Fund I, LLC, a Florida
limited liability company (the "Issuer"), AmeriFirst Capital Corp., a Florida
corporation (the "Depositor") and SOUTHTRUST BANK, a state banking institution
organized and existing under the laws of the State of Alabama, as escrow agent
("Escrow Agent").

      WHEREAS, the Issuer has filed a registration statement, Form S-1, File No.
333-98651, with the Securities and Exchange Commission pursuant to the
Securities Act of 1933, as amended, concerning the subscription and sale of
membership units ( the "Units") in the Issuer with a minimum purchase
requirement of 100 Units ("Minimum Purchase") at the price of $1,000.00 per
Unit.

      WHEREAS, the Depositor has been named as the underwriter pursuant to the
proposed subscription and sale of the Units under the terms of the Underwriting
Agreement by and between Issuer and Depositor to be dated the effective date of
the above registration statement (the "Effective Date").

      WHEREAS, the Issuer and Depositor propose to establish a escrow fund in
accordance and compliance with 17 C.F.R. section 240.15c2-4 to be held by the
Escrow Agent until the earlier of six months from the Effective Date of the
prospectus or the sale of $2,5000,000 in Units is complete or is terminated by
the Issuer unless extended for up to an additional six months in accordance with
the terms of the prospectus.

      NOW THEREFORE, in consideration of the promises and of the mutual
covenants contained herein, the parties hereto agree as follows:

      1. APPOINTMENT OF ESCROW AGENT. The Issuer and the Depositor do hereby
appoint the Escrow Agent as escrow agent for the purposes described herein.

      2. ACCEPTANCE OF APPOINTMENT BY ESCROW AGENT. The Escrow Agent does hereby
accept the appointment as escrow agent and agrees to act on the terms and
conditions described herein.

      3. ESCROW FUND. All funds received by Depositor and Issuer in connection
with the sale of Units shall be deposited with the Escrow Agent ("Escrow Funds")
by noon of the next business day after receipt by the Depositor. The Escrow
Agent shall hold, maintain and secure the Escrow Funds subject to the terms,
conditions and restrictions herein described. Escrow Agent shall release Escrow
Funds only in accordance with the instructions as set forth in Exhibit "A", or
as otherwise expressly set forth in this Agreement.

      4. INVESTMENT OF ESCROW FUND. The Escrow Agent shall invest and reinvest
the Escrow Funds in the investment(s) set forth in Exhibit "B" or any other
investment which shall be requested in writing by both Issuer and Depositor and
which shall be considered acceptable in the sole discretion of the Escrow Agent.
Escrow Agent shall have sole discretion
<PAGE>

to select the brokers, dealers or other traders of securities in connection with
the investment of Escrow Funds. During the term of this Agreement the Escrow
Agent shall provide the Depositor and the Issuer with written monthly statements
containing the beginning balance of the Escrow Funds, as well as all principal
and income transactions for the statement period. Escrow Agent shall have the
express authority to liquidate any and all investments consisting in whole or in
part of Escrow Funds to make any and all payments under this Agreement.

      5. LIABILITY OF ESCROW AGENT. The Escrow Agent shall not be liable for any
loss to Escrow Funds resulting from the investment(s) enumerated in Exhibit "B"
or any investment(s) requested in writing by either Depositor or Issuer. The
Escrow Agent shall not be liable for any (a) actions taken at the request of
either Depositor or Issuer; (a) inaction resulting from the failure of either
Depositor or Issuer to provide the Escrow Agent with written instructions as to
investment directives; (a) inaction resulting from the exercise of the Escrow
Agent's sole discretion in the choice of requested investments; or, (a) any loss
resulting from the liquidation of any investment(s) prior to such investment's
maturity date for the purpose of making required payments under this Agreement.
The Escrow Agent shall not be held liable for any actions taken in good faith
reliance upon written instructions by Depositor and/or Issuer. The Escrow Agent
shall not be held liable for any action or inaction taken in good faith, except
that it may be held liable for its own gross negligence or willful misconduct,
if so determined by a court of competent jurisdiction. Under no circumstances
shall the Escrow Agent be held liable for any special, indirect or consequential
damages of any kind, even though the Escrow Agent may have been placed on notice
of the likelihood of such loss.

      6. RIGHTS AND DUTIES OF ESCROW AGENT. This Agreement shall represent the
entire understanding of the parties hereto, and the Escrow Agent shall only be
required to perform the duties expressly described herein, and no further duties
shall be implied from this Agreement or any other written or oral agreement by
and between the Escrow Agent, the Depositor and the Issuer made previous or
subsequent to this Agreement, unless such written amendment to this Agreement is
executed by all parties to this Agreement. The Escrow Agent may rely upon any
written instructions believed in good faith to be genuine when signed and
presented by the requesting party and shall not have a duty to inquire or
investigate the validity of any such written instruction. The Escrow Agent shall
not be required to solicit funds from either Depositor or Issuer in connection
with this Agreement. The Escrow Agent shall be permitted to execute any and all
powers under this Agreement directly or through its agents and/or attorneys, and
shall be allowed to seek counsel from any professional regarding the performance
of this Agreement, which professionals shall be selected at the sole discretion
of the Escrow Agent. Should the Escrow Agent become uncertain as to its duties
under this Agreement, it shall be permitted to immediately abstain from further
action until such duties are expressly defined in writing by the parties hereto,
and shall only be required to protect and keep the Escrow Funds in their current
investment(s) until such time as a written agreement among the parties is
executed or a court of competent jurisdiction shall render an order directing
further action. Upon release of Escrow Funds as set forth in Exhibit "A" hereto,
Escrow Agent shall be fully released from any and all further obligations,
except for the provision of written notice to the other parties to this
Agreement, setting forth in such notice the date of release of the Escrow Funds,
the party to whom released, the amount released and a statement setting forth
Escrow Agent's release from further obligations to any other party to this
Agreement.

                                      -2-
<PAGE>

      7. RESIGNATION AND SUCCESSION OF ESCROW AGENT. The Escrow Agent may resign
and be discharged of all duties and obligations under this Agreement by
providing ten (10) days written notice of such resignation to both the Depositor
and the Issuer. If no successor escrow agent shall have been named at the
expiration of the ten (10) day notice period, the Escrow Agent shall have no
further obligations hereunder except to hold the Escrow Funds as a depository.
Upon notification by Depositor and Issuer of the appointment of a successor
escrow agent, the Escrow Agent shall promptly deliver the Escrow Funds and all
materials and instruments in its possession which relate to the Escrow Funds to
such successor, and the duties of the resigning Escrow Agent shall terminate in
all respects, and it shall be released and discharged from all further
obligations herein. The Escrow Agent shall have the right to withhold an amount
equal to any amount due and owing the Escrow Agent, plus any costs and fees
incurred by the Escrow Agent in connection with the termination of this
Agreement. Any merger, consolidation or the purchase of all or substantially all
of the Escrow Agent's corporate assets resulting in a new corporate entity shall
not be considered a successor for the purposes of this Agreement, and the Escrow
Funds shall be transferred to such entity without written consent or further
action under this Agreement.

      8. TERMINATION OF ESCROW AGENT. The Escrow Agent may be discharged from
its duties under this Agreement upon thirty days (30) written notice from
Depositor and Issuer and upon the payment of any and all costs and fees due to
Escrow Agent. In such event, the Escrow Agent shall be entitled to rely upon
written instructions from Depositor and Issuer as to the disposition and
delivery of the Escrow Funds. Upon thirty (30) days after receipt of such
written notice of termination, if no successor has been named, the Escrow Agent
shall immediately cease further action under this Agreement and shall have no
further obligations hereunder except to hold the Escrow Funds as a depository.

      9. TAXES AND FEES. Depositor and Issuer each represent that its Federal
Tax Identification Number listed in Exhibit "A" is true and correct, and that
each will notify the Escrow Agent in writing immediately upon any change to such
number. Depositor and Issuer each grant to the Escrow Agent a right of set-off
which may be exercised to pay any and all taxes, whether federal, state or
local, incurred by the investment of the Escrow Funds. Depositor and Issuer
shall, jointly and severally, indemnify and hold harmless the Escrow Agent
against and in respect to liability for taxes and/or any penalties or interest
attributable to the investment of Escrow Funds by Escrow Agent pursuant to this
Agreement. The Depositor and Issuer shall also agree to pay, jointly and
severally, compensation for the services rendered by the Escrow Agent under this
Agreement. Compensation for services rendered by the Escrow Agent shall be paid
per the instructions set forth on Exhibit "C", and Issuer and Depositor jointly
and severally agree to pay or reimburse the Escrow Agent for all expenses and
disbursements, including attorney's fees, incurred in connection with the
preparation, execution, performance, delivery, modification or termination of
this Agreement.

      10. INDEMNIFICATION OF ESCROW AGENT. Depositor and Issuer shall jointly
and severally indemnify, defend and hold harmless the Escrow Agent and its
directors, officers, agents and employees from all loss, liability or expense
arising from the execution and/or performance of this Agreement or the
undertaking of any instructions from Depositor or Issuer, except for those acts
by the Escrow Agent which shall constitute gross negligence or willful
misconduct, and such indemnification shall include attorney's fees. The Escrow
Agent's

                                      -3-
<PAGE>

right of indemnification shall survive the resignation or termination of the
Escrow Agent and the termination of the duties described in this Agreement. The
Depositor and Issuer further grant the Escrow Agent a right of set-off and a
security interest against the Escrow Funds for the payment of any claim for
indemnification, expenses or compensation due hereunder.

      11. NOTICES. All communications, notices and instructions required herein
shall be in writing and shall be deemed to have been duly given if delivered by
hand or first class, registered mail, return receipt requested, postage prepaid,
and addressed as follows:

        (a)       If to Escrow Agent:        SouthTrust Bank
                                             Corporate Trust Department
                                             110 Office Park Drive, 2nd Floor
                                             Birmingham, Alabama 35223
                                             Telephone: (205) 254-5334
                                             Facsimile:   (205) 254-4180
                                             Attention: Rebecca Brayman

        (b)      If to Issuer:               AmeriFirst Fund I, LLC
                                             1712-H Osborne Road
                                             St. Marys, Georgia 31558
                                             Telephone: (912) 673-9100
                                             Attention: John Tooke

        (c)      If to Depositor:            AmeriFirst Capital Corp.
                                             814 Highway A1A, Suite 300
                                             Ponte Verda Beach, Florida 32082
                                             Telephone: (904) 373-3034
                                             Attention: John Tooke

In the event the Escrow Agent shall receive such written instructions and shall
determine pursuant to its sole discretion that verification of such instructions
shall be required, then the Escrow Agent shall be permitted to seek confirmation
of such instructions by way of telephone contact to the author of such written
instructions. Verification of the instructions by the purported author of the
instructions called at the telephone number placed on the instructions shall
serve to verify such instructions.

      12. ASSIGNMENT. This Agreement shall not be assignable absent written
consent of the parties hereto. Any assignment absent written consent shall be
deemed void ab initio, except that the merger or acquisition of all or
substantially all the assets of the parties shall not require written consent,
but shall require written notice to all the parties hereto. Notwithstanding the
foregoing, all covenants contained in this Agreement by or on behalf of the
parties hereto shall bind and inure to the benefit of such parties and their
respective heirs, administrators, legal representatives, successors and assigns.

      13. MODIFICATION OF AGREEMENT. This Agreement shall constitute the
complete and entire understanding of the parties hereto, and shall supersede any
and all prior agreements between or among them. The provisions of this Agreement
shall not be waived,

                                      -4-
<PAGE>

modified, amended, altered or supplemented, in whole or in part, except by a
writing signed by all the parties hereto.

      14. CHOICE OF LAW. This Agreement shall be governed and construed in
accordance with the laws of the State of Florida. The parties further waive any
right to a trial by jury with respect to any judicial proceeding arising out of
occurrences related to this Agreement.

      15. FORCE MAJEURE. No party to this Agreement shall be liable to any other
party for losses arising out of, or the inability to perform its obligations
under the terms of this Agreement, due to acts of God, which shall include, but
shall not be limited to, fire, floods, strikes, mechanical failure, war, riot,
nuclear accident, earthquake, terrorist attack, computer piracy, cyber-terrorism
or other acts beyond the control of the parties hereto.

      16. EXECUTION. This Agreement may be executed in several counterparts,
each of which shall be deemed an original, but such counterparts together shall
constitute one and the same instrument. The effective date of this Agreement
shall be the date it is executed by the last party to do so.

      IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of
the date first written above.

                                           SOUTHTRUST BANK

                                           /s/  Donald E. Evans
                                           -------------------------------------
                                           By:  Donald E. Evans
                                           Its: Vice President and Trust Officer

                                           ISSUER

                                           /s/ John Tooke
                                           -------------------------------------
                                           By: John Tooke
                                           Its:  Managing Member

                                           DEPOSITOR

                                           /s/ John Tooke
                                           -------------------------------------
                                           By:  John Tooke
                                           Its:  President

                                      -5-
<PAGE>

                                   Exhibit "A"

Escrow Agent shall pay over to the Depositor from the Escrow Funds, by wire
transfer or bank draft of immediately available funds to a bank account of the
Issuer's description, the amount of Two Hundred Fifty Thousand ($250,000)
dollars upon written instructions of the Issuer and Depositor following the
occurrence of sales of at least $2,500,000 in Units. The Escrow Agent shall pay
the Issuer all interest accrued thereon and deduct all Escrow Agreement costs
and fees. The Escrow Fund shall then be terminated.

In the event the offering of Units is terminated for any reason prior to the
closing on the minimum Purchase, upon written instructions from the Issuer, the
Escrow Agreement shall return to the respective investors the funds on deposit
with interest, less any Escrow Agent costs and fees.

The Federal Employer Identification Number of the Issuer is 16-1628-844. The
Federal Employer Identification Number of the Depositor is 41-2065933.
<PAGE>

                                   Exhibit "B"

In the absence of written direction Escrow Collateral is to be invested in the
J.P. Morgan Prime Money Market Reserve or SouthTrust Money Market Fund or a
similar money market fund that the Escrow Argent uses for the investment of
short term funds.
<PAGE>

                                   Exhibit "C"

As set forth in Section 9 of the Agreement, Issuer and Depositor shall be
jointly and severally liable for the compensation to be paid to Escrow Agent, as
set forth herein.

Acceptance $1,000
Annual administrative fee $2,750

Plus additional charges, if needed:

Preparation of receipts, each                     $ 2.50
Return of subscription price to investor each     $15.00

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