Document:

Filed by Automated Filing Services Inc. (604) 609-0244 - Carbiz Inc. - Exhibit 10.1

              
THIS CONSULTING AGREEMENT made and effective the 12th day of October,1999. 

BETWEEN:

  
    
      CARBIZ.COM INC., a corporation incorporated under the
        laws of the Province of Ontario, 

      (hereinafter called the "Corporation")

    

  

OF THE FIRST PART;

- and -

  
    
      1043917 ONTARIO INC., a corporation incorporated under
        the laws of the Province of Ontario,

      (hereinafter called the "Consultant")

    

  

OF THE SECOND PART;

and -

  
    
      CARL RITTER, of the City of Toronto, in the Province
        of Ontario, (hereinafter called the "Covenantor")

    

  

OF THE THIRD PART.

              
WHEREAS the Corporation desires to hire the Consultant as an independent
contractor and the Consultant desires to provide services to the Corporation as
a consultant;

              
AND WHEREAS the Covenantor is a principal of the Consultant;

              
NOW THEREFORE IN CONSIDERATION of the premises and respective covenants
hereinafter set forth, the sum of two ($2.00) dollars paid by each of the
parties hereto to the other and other good and valuable consideration (the
receipt and sufficiency whereof is hereby acknowledged), the parties hereby
agree as follows:

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l.            
Relationship

              
The Corporation hereby retains the Consultant as an independent contractor to
serve as a consultant for the Corporation and the Consultant hereby agrees to
such engagement upon the terms and conditions of this Agreement.

2.            
Duties

	 	(a) 	The Consultant shall perform services and duties
        for the Corporation as reasonably requested by Corporation including without
        limitation those services and duties as are set out in Schedule "A" hereto.
        The Consultant agrees to provide the Covenantor at such times as Covenantor
        considers reasonable in the circumstances to perform such services and
        duties. The Consultant acknowledges and agrees that the Consultant and
        the Covenantor will not be obliged to perform their services according
        to any predetermined timetable and that the Consultant and Covenantor
        may devote such time to the Corporation as is required in the circumstances.
      

	 	 	 
	 	(b) 	Unless prevented by ill health or other sufficient
        cause, the Consultant and the Covenantor shall devote, during the Term
        (as hereinafter defined), such time and attention to the business of the
        Corporation as the Consultant and the Covenantor consider appropriate
        in the circumstances. 

	 	 	 
	 	(c) 	The Consultant and the Covenantor shall use their
        best efforts to promote the interests of the Corporation. 

3.            
Term

               
Unless sooner terminated as provided for herein, this Agreement shall remain in
force and effect for an initial term commencing on the date first above written
and ending on January 31, 2005 (the "Term"). This Agreement may be renewed on
the terms and conditions that the Corporation, the Consultant and the Covenantor
consider reasonable in the circumstances.

4.            
Compensation and Benefits

	 	(a) 	Commencing as of the date first above written until
        January 31, 2000 (prorated as applicable to take in consideration a part
        of a week), the Corporation shall pay to the Consultant a fee (the "Consulting
        Fee") of two thousand three hundred and seven dollars and seventy cents
        ($2,307.70) Dollars per week, in advance. 

	 	 	 
	 	(b) 	Commencing on February 1, 2000, until and including
        January 31, 2001, the Corporation shall pay to the Consultant a Consulting
        Fee of one hundred and sixtyfive thousand ($165,000.00) dollars per annum
        plus GST, payable weekly, in advance; 

-3-

	 	(c) 	Commencing on February 1, 2001, until and including
        January 31, 2002, the Corporation shall pay to the Consultant a Consulting
        Fee of one hundred seventythree thousand two hundred and fifty ($173,250.00)
        dollars per annum plus GST, payable weekly, in advance; 

	 	(d) 	Commencing on February 1, 2002, until and including
        January 31, 2003, the Corporation shall pay to the Consultant a Consulting
        Fee of one hundred and eighty-one thousand nine hundred and twelve dollars
        and fifty cents ($181,912.50) per annum plus GST, payable weekly, in advance;
      

	 	 	 
	 	(e) 	Commencing on February 1, 2003, until and including
        January 31, 2004, the Corporation shall pay to the Consultant a Consulting
        Fee of one hundred and ninety-one thousand and eight dollars and thirteen
        cents ($191,008.13) per annum plus GST, payable weekly, in advance; 

	 	 	 
	 	(f) 	Commencing on February 1, 2004, until and including
        January 31, 2005, the Corporation shall, pay to the Consultant a Consulting
        Fee of two hundred thousand five hundred and fifty-eight dollars and fifty-three
        cents ($200,558.53) per annum plus GST, payable weekly, in advance; 

	 	 	 
	 	(g) 	The Consultant shall be entitled to reimbursement
        of all actual reasonable expenses incurred by the Consultant in connection
        with its duties hereunder including without limiting the generality of
        the foregoing a car allowance of $500.00 per month (plus GST), provided
        that a proper statement itemizing such expenses and proper vouchers and
        receipts in support of same is submitted by the Consultant to the Corporation
        from time to time in accordance with any accounting practices adopted
        by the Corporation. 

	 	 	 
	 	(h) 	The Corporation agrees to review on an annual basis
        commencing April 1, 2001 the Consulting Fee and car allowance payable
        under this Agreement and, if the Corporation agrees that it is reasonable
        in the circumstances, to increase the Consulting Fee and/or car allowance.
      

-4-

	 	(i) 	The Corporation acknowledges and agrees that the
        Covenantor is entitled, upon providing the Corporation with reasonable
        notice, to not provide services nor attend at the offices of the Corporation
        for a period of four (4) weeks in such duration as the Covenantor requests
        (ie daily or weekly) in any 365-day period during the Term. 

	 	 	 
	 	(j) 	The Consultant and the Covenantor jointly and severally
        agree to indemnify and save harmless the Corporation from and against
        any penalties, fines, costs, losses, damages and expenses that the Corporation
        may sustain or incur as a result of the Corporation not making any statutory
        remittances with respect to the Covenantor including without limitation,
        unemployment insurances premiums, workers compensation payment and income
        tax deductions. 

5.            
Termination

	 	(a) 	The Corporation may at any time, by giving
        written notice to the Consultant, terminate this Agreement if the Consultant
        or the Covenantor does any of the following: 

	 	 	 	 
	 		(i) 
	commits a breach of trust; 

	 	 	 	 
	 		(ii) 
	is grossly negligent in the performance of its duties;
      

	 	 	 	 
	 		(iii) 
	becomes incompetent; and/or, 

	 	 	 	 
	 		(iv) 
	commits a material breach of any provision of this
        Agreement. 

	 	 	 	 
	 		Termination shall be effective when notice
        is given at which time this Agreement shall automatically terminate along
        with the rights and obligations contained herein, including the payment
        of any fee or benefit and all other monies due up to the date of Termination;
        except that the provisions set forth in Sections 6 and 7 hereof shall
        survive after termination and shall continue in full force and effect.
      

	 	 	 	 
	 	(b) 	If during the Term the Covenantor dies,
        this Agreement shall be considered to terminate as of the date of his
        death. In such event, the Consultant shall be paid: 

	 	 	 	 
	 		(i) 
	its Consulting Fee until the date of death of the
        Covenantor; and 

	 	 	 	 
	 		(ii) 
	any benefit to which the Consultant or the Covenantor
        is otherwise entitled as of the date of his death and all other monies
        due up to the date of termination. 

-5-

	 	(c) 	The Corporation may at any time, by giving the Consultant
        two (2) years notice in writing, terminate this Agreement. During the
        two-year notice period, the Consultant shall receive its Consulting Fee
        and all amounts that are payable to the Consultant under the terms of
        this Agreement. The Corporation may also, in lieu of two-years notice,
        terminate this Agreement by delivering to the Consultant a termination
        notice along with an amount, in cash or certified cheque, equivalent to
        two years of the Consulting Fee payable to the Consultant commencing from
        the date said termination notice is delivered along with all other amounts
        payable to the Consultant during said two-year period pursuant to the
        terms of this Agreement. The Corporation agrees that the two-year notice
        period is reasonable in the circumstances. 

	 	 	 
	 	(d) 	The Consultant and the Covenantor may jointly terminate
        this Agreement at any time during the Term n (including any renewals or
        extensions thereof) on three months' notice to the Corporation. 

6.             
Confidentiality

	 	(a) 	The Consultant acknowledges that in providing
        its consulting services to the Corporation, the Consultant and the Covenantor
        will require and be exposed to information about certain matters which
        are confidential to the Corporation or its Subsidiaries and not known
        to the public or to the competitors (the "Confidential Materials and Information"),
        and which Confidential Materials and Information are the exclusive property
        of the Corporation, and includes without limitation the following: 

	 	 	 	 
	 		(i) 
	Confidential methods of operation, which includes
        all information related to the Corporation's or its Subsidiaries unique
        marketing programs, unique products, unique methods, unique service systems,
        unique software programs and trade secrets; 

	 	 	 	 
	 		(ii) 
	All information regarding the Corporation's or its
        Subsidiaries' existing customers and clients, including customer lists,
        contracts, prices, invoices, computer print outs and other similar information;
      

	 	 	 	 
	 		(iii) 
	All information concerning the Corporation's or its
        Subsidiaries' potential customers and clients, including mailing lists,
        prospect cards and other similar information; 

	 	 	 	 
	 		(iv) 
	Any information which gives the Corporation or its
        Subsidiaries an opportunity to obtain an advantage over competitors; 

	 	 	 	 
	 		(v) 
	Financial Information, including the Corporation's
        or its Subsidiaries' costs, sales, income, profits and other similar information;
      

-6-

	 		(vi)
	Business opportunities, including
        all ventures considered by the Corporation or its Subsidiaries, whether
        or not such ventures are pursued; 

	 	 	 	 
	 		(vii)
	Personnel information, including
        the names of employees and applicable remuneration and benefit policy;
        and, 

	 	 	 	 
	 		(viii)
	Computer programs and procedures
        relating to the Corporation's or its Subsidiaries' business including
        without limitation, source codes. 

	 	 	 	 
	 	(b) 	Each of the Consultant and
        the Covenantor acknowledges that the Confidential Materials and Information
        referred to in Subparagraph 6 (a) could be used to the detriment of the
        Corporation. Accordingly, throughout the Term, including any renewals
        or extensions thereof, the Consultant and the Covenantor jointly and severally
        undertake not to disclose to any third party and treat in strict confidence
        all Confidential Materials and Information, except for disclosures necessary
        by the Consultant to properly discharge its duties under this Agreement.
        Further, after the termination of this Agreement, regardless of how that
        termination should occur, the Consultant and the Covenantor jointly and
        severally undertake, without time limitation, not to disclose to any third
        party to treat in strict confidence all Confidential Materials and Information.
      

	 	 	 	 
	 	(c) 	Each of the Consultant and
        the Covenantor jointly and severally understands and agrees that the restrictions
        and covenants contained in this Section 6 constitute a material inducement
        of the Corporation to enter into this Agreement, and that the Corporation
        would not enter into this Agreement absence such inducement. Each of the
        Consultant and the Covenantor jointly and severally agrees that the restrictions
        and covenants contained in this Section 6 shall be construed independent
        of any other provision of this Agreement, and the existence of any claim
        or cause of action by the Consultant or the Covenantor against the Corporation,
        whether predicated under this Agreement or otherwise, shall not constitute
        a defence to the enforcement by the Corporation of the said restrictions
        and covenants contained in this paragraph. Further, any clause or provision
        of this Section 6 that may be found unenforceable shall be considered
        to be severable from the rest of this Section 6, which remaining portion
        shall continue in full force and effect in accordance with the terms of
        this Section 6 and the Agreement. 

	 	 	 	 
	 	(d) 	Each of the Consultant and
        the Covenantor jointly and severally acknowledges, agrees and understands
        that, without prejudice to any and all remedies to the Corporation, an
        injunction is (but is not the only) effective remedy for any breach of
        the Consultant's and the Covenantor's covenants under this paragraph,
        and that the Corporation would suffer irreparable harm and injury in the
        event of any such breach. Accordingly, each of the Consultant and the
        Covenantor jointly and severally hereby agrees that the Corporation may
        apply for and have injunctive relief, including an interim or 

-7-

interlocutory injunction, in any Court
  of competent jurisdiction to enforce any of the provisions in this Section 6
  upon the breach or threaten breach thereof Each of the Consultant and the Covenantor
  jointly and severally further agrees that the Corporation may apply for and
  is entitled to said injunctive relief without having to prove damages, and is
  entitled to all costs and expenses, including legal costs.

7.             
  Non-Competition

	(1) 	In this Agreement, the following expressions
        shall have the following meanings, namely: 

	 	 	 	 
		(a) 
	“Business" means the creation, marketing,
        leasing, licensing, distribution, sale and maintenance of various software
        products for use in the automotive industry; 

	 	 	 	 
		(b) 
	"Prohibited Period" means each of the following
        time periods: 

	 	 	 	 
		 	(i) 
	one (1) year from the date of termination of this
        Agreement; and/or 

	 	 	 	 
		 	(ii) 
	two (2) years from the date of termination of this
        Agreement; and/or 

	 	 	 	 
		 	(iii) 
	three (3) years from the date of termination of this
        Agreement; and/or 

	 	 	 	 
		 	(iv) 
	four (4) years from the date of termination of this
        Agreement; and/or 

	 	 	 	 
		 	(v) 
	five (5) years from the date of termination of this
        Agreement; and/or during the Term. 

	 	 	 	 
		(c) 
	"Prohibited Area" means each of the following
        areas: 

	 	 	 	 
		 	(i) 
	within the Province of Ontario; 

	 	 	 	 
		 	(ii) 
	within the Regional Municipalities of York, Simcoe,
        Peel, Durham and the Municipality of Metropolitan Toronto; 

	 	 	 	 
		 	(iii) 
	all that portion of the Province of Ontario lying
        within a radius of 40 miles of the City of Toronto city hall; 

	 	 	 	 
		 	(iv) 
	all that portion of the Province of Ontario lying
        within a radius of miles of the City of Toronto city hall. 

	 	 	 	 
		(d) 
	"person" includes any individual, firm,
        partnership, joint venture, company, 

-8-

		 	 corporation, syndicate,
        association, government or any department or agency thereof, trustee or
        any other entity or organization and the heirs, executors, administrators
        or other legal representatives of an individual; and words importing "person"
        have similar meanings; 

	 	 	 	 
		(e)	 

      "related" and "associated" shall have the meanings
        ascribed thereto in the Income Tax Act (Canada); 

	 	 	 	 
		(f)	 

      "Specified Capacity" means: 

	 	 	 	 
		 	(a) 
	an individual or proprietor; 

	 	 	 	 
		 	(b) 
	as a co-owner, partner with or shareholder of any
        other person; 

	 	 	 	 
		 	(c) 
	as an employee, officer or director of any other
        person; 

	 	 	 	 
		 	(d) 
	as manager for any other person; 

	 	 	 	 
		 	(e) 
	as agent for any other person; 

	 	 	 	 
		 	(f) 
	as a co-adventurer, joint venturer or participator
        in interest with any person; 

	 	 	 	 
		 	(g) 
	as advisor to any other person; 

	 	 	 	 
		provided always that nothing in this Agreement
        shall prohibit the Consultant or the Covenantor from holding shares, debentures
        or other securities listed on a recognized stock exchange. 

	 	 	 	 
	(2) 	Each of the Consultant and the Covenantor
        jointly and severally covenants and agrees with the Corporation that it\he
        will not, during the Term, including any renewals or extensions thereof,
        and at any time during the Prohibited Period: 

	 	 	 	 
		 	(i) 
	in any Specified Capacity carry on or be engaged
        in the Business within the Prohibited Area; 

	 	 	 	 
		 	(ii) 
	in any other manner whatsoever, carry on, be engaged
        in, concerned with or interested in the Business within the Prohibited
        Area; 

	 	 	 	 
		 	(iii) 
	lend money to, advise, guarantee the debts or obligations
        of any person engaged in the Business within the Prohibited Area; or 

	 	 	 	 
		 	(iv) 
	authorized his name, or any part thereof, being used
        or employed by or 

-9-

	 	 	 	associated with any person engaged in the Business
        within the Prohibited Area. 

	 	 	 	 
	 	 	(v) 
	in any Specified Capacity, solicit the
        customers of the Corporation or its Subsidiaries (as hereinafter defined)
        as such customers exist and/or are known to the Consultant or the Covenantor
        as of the date that the Consultant ceases to be retained by the Corporation
        nor shall he assist, engage in or solicit in any Specified Capacity or
        in any manner whatsoever, any individual, firm, partnership, corporation
        or other entity, soliciting the customers of the Corporation or its Subsidiaries
        as they exist as of date that the Consultant ceases to be retained by
        the Corporation with a view to competing with the Corporation or its Subsidiaries.
      

	 	 	 	 
	 	 	(vi) 
	in any Specified Capacity hire or take
        or caused to be hired or taken away, any employee or former employee of
        the Corporation or its Subsidiaries who was employed by the Corporation
        or its Subsidiaries during the five (5) years preceding the date the Consultant
        ceases to be retained by the Corporation. 

	 	 	 	 
	 	(3) 
	The covenant or covenants in
        Subsection 7(2) and Subparagraphs 7(2)(i) to 7(2)(vi), inclusive, shall
        be construed as if it is or they are divided into separate and distinct
        covenants in respect of each party hereto, each Prohibited Period, each
        Specified Capacity and each geographical area, and each such distinct
        covenant shall constitute a separate covenant severable from all other
        such distinct covenants. Without prejudice to the generality of the foregoing:
      

	 	 	 	 
	 	 	(a) 
	insofar as any such covenant relates to
        a Specified Capacity, it shall be separate and severable from such other
        covenants insofar as it relates to any other Specified Capacity so that
        if any covenant is determined to be unenforceable or declared invalid
        in whole or in part for any reason whatsoever, it shall be deemed not
        to affect or impair the enforceability or validity of any other covenant
        or any part thereof, 

	 	 	 	 
	 	 	(b) 
	insofar as any such covenant relates to
        a Prohibited Period, each time period included in the definition of Prohibited
        Period as set forth in Subsection 7(l)(b) hereof shall produce a separate
        and distinct covenant of the Consultant and the Covenantor for each such
        time period; so that if any of such covenants (being less than all of
        them) are determined to be void, unenforceable or ineffective as a consequence
        of that time period being too long or for any other reason whatsoever,
        then such determination shall not affect or impair the validity of any
        of the remaining covenants; and 

	 	 	 	 
	 	 	(c) 
	insofar as any such covenant relates to a Prohibited
        Area, each geographical area included in the definition of Prohibited
        Area as set forth in Subsection 7(l)(c) of this Agreement shall produce
        a separate and distinct covenant of the 

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	 	 	 	Consultant and the Covenantor for each such geographical
        area; so that if any of such covenants (being less than all of them) are
        determined to be void or unenforceable as a consequence of that area being
        too large or for any other reason whatsoever, then such determination
        shall not affect or impair the validity of any of the remaining covenants.
      

	 	 	 	 
	 	(4) 
	The Consultant and the Covenantor acknowledge,
        agree, and understand that, without prejudice to any and all remedies
        available to the Corporation, an injunction is the only effective remedy
        for any breach of the Consultant's and the Covenantor's covenants under
        this paragraph and that the Corporation would suffer irreparable harm
        and injury in the event of any such breach. Accordingly, the Consultant
        and the Covenantor hereby agree that the Corporation may apply for and
        have injunctive relief, including an interim or interlocutory injunction,
        in any court of competent jurisdiction, to enforce any of the provisions
        in this paragraph upon the breach or threatened breach thereof. The Consultant
        and the Covenantor further agree that the Corporation may apply for and
        is entitled to said injunctive relief without having to prove damages,
        and is entitled to all costs and expenses, including reasonable legal
        costs. 

	 	 	 	 
	 	(5) 
	The Consultant and the Covenantor understand
        and agree that the restrictions and covenants contained in this paragraph
        are reasonable in the circumstances and constitute a material inducement
        to the Corporation to enter into this Agreement, and that the Corporation
        would not enter into this Agreement absent such inducement. The Consultant
        and the Covenantor agree that the restrictions and covenants contained
        in this paragraph shall be construed independent of any other provision
        of this Agreement, and the existence of any claim or cause of action by
        the Consultant against the Corporation, whether predicated under this
        Agreement or otherwise, shall not constitute a defence to the enforcement
        by the Corporation of the said restrictions and covenants contained in
        this paragraph Further, any clause or provision of this paragraph that
        may be found unenforceable shall be considered to be severable from the
        rest of this paragraph, which remaining portions shall continue in full
        force and effect in accordance of the terms of this paragraph and Agreement.
      

	 	 	 
	 	(6) 
	For the purposes of this Agreement, "Subsidiaries"
        mean Data Gathering Service Inc., Aftersale Income Management Inc., 626872
        Ontario Limited and any affiliated, related or subsidiary companies (as
        the terms are defined in the Ontario Business Corporations Act and any
        successor legislation) presently existing or formed during the Term (including
        any renewals or extensions thereof) and their respective successors and
        assigns.

8.            
Waiver of
Breach
               
The waiver by any party of a breach of any provision of this Agreement by
another party shall not operate or be construed as a waiver of any subsequent
breach by any party.

9.            
Assignment
               
The Corporation shall have the tight to assign this Agreement to its
successors and all covenants and agreements hereunder shall enure to the benefit
of and be enforceable by or against its said successors. The term "successor"
shall include any party which buys all or substantially all of the Corporation's
assets, or all of its shares, or with which it amalgamates, merges or
consolidates, or any subsidiary or associate of the Corporation.

10.           Severability
               
If any term or covenant of this Agreement or the application thereof to
any party or circumstance shall, to any extent, be invalid or unenforceable, the
remainder of this Agreement or the application of such term or covenant to the
party or circumstance other than those as to which it is held invalid or
unenforceable, shall not be affected thereby and each term and obligation of
this Agreement shall be separately valid and enforceable to the fullest extent
permitted by law.

11.           Notices
               
Any notice required or permitted to be given under this Agreement shall
be in writing and shall be given by prepaid registered mail or personal
delivery. Such notice shall be sent or delivered to the Consultant at his
residence as indicated in the records of the Corporation or office of employment
and to the Corporation at: 180 Lesmill Road, Don Mills, Ontario, M3B 2T5, and
shall be deemed to be given at the time of said personal delivery or, if mailed,
on the third business day following the date of mailing.

12.           Entire
Agreement
               
This Agreement contains the entire agreement of the parties and way not
be changed without the mutual written approval of the Corporation, the
Consultant and the Covenantor.

13.          
Interpretation Not Affected by Headings or Party
Drafting
               
Each party hereto acknowledges that it and its legal counsel have
reviewed and participated in settling the terms of this Agreement, and the
parties hereby agree that any rule of construction to the effect that any
ambiguity is to be resolved against the drafting party shall not be applicable
in the interpretation of this Agreement.

14.           Accounting
Calculations
               
All accounting calculations herein shall be performed by the
accountants of the Corporation in accordance with generally accepted accounting
principles.

15.           Governing
Law
               
This Agreement and the performance or breach hereof shall be governed
by the procedural and substantive laws in effect in the Province of Ontario,
Canada.

16.           Currency
               
All references to currency shall mean lawful money of Canada.

-12-

17.          
Rules and
Regulations
               
Except to the extent inconsistent with this Agreement the Consultant
shall be bound by the reasonable rules and regulations implemented by the
Corporation from time to time,

18.           Counterparts
               
This Agreement may be executed in several counterparts, each of which
so executed shall be deemed to be an original, and such counterparts together
shall constitute but one and the same instrument.

19.           Joint
and Several
Liability
               
All representations, warranties, covenants, undertalangs, indemnities,
guarantees, acknowledgments, understandings, obligations and agreements of the
Consultant and the Covenantor contained in this Agreement, the Schedules
attached hereto and in any agreement, certificate, instrument or document
related to this Agreement are made jointly and severally by the Consultant and
the Covenantor.

20.          
Enurement
               
This Agreement shall enure to the benefit of and shall be binding upon
the parties hereto and their respective heirs, legal representatives, successors
and assigns.

-13-

               
IN WITNESS WHEREOF the parties have executed this Agreement on the date
first above written.

	SIGNED, SEALED AND DELIVERED 	)	 
	in the presence of: 	)	 
	 	)	 
	 	)	 
	/s/ Signature	)	/s/ Carl Ritter
	Witness:	)	CARL RITTER
	 	)	 
	 	)	 
	 	)	 
	 	)	 
	 	)	 
	 	)	 
	 	)	 

 CARBIZ.COM INC.

Per: /s/ Signature

Name:

  Title: Director

I HAVE AUTHORITY TO BIND THE CORPORATION 

1043917 ONTARIO INC.

Per: /s/ Carl Ritter

Name: Carl Ritter

  Title: President

I HAVE AUTHORITY TO BIND THE CORPORATION

SCHEDULE “A”

Management of the operations of the Corporation.

Responsible for: Strategic planning and implementation.
Identifying potential acquistions.

Will hold the office of Chairman, CEO and President during the
term of this contract.Filed by Automated Filing Services Inc. (604) 609-0244 - Carbiz Inc. - Exhibit 10.2

COMMERCIAL LEASE

THIS LEASE, made on the 1st day of April, 2004, by and between
Tony Katsamakis and Julie Katsamakis, property owners, (hereinafter referred to
as "Landlord"), and CarBiz Auto Credit Inc., a Florida Corporation (hereinafter
referred to as "Tenant"), a wholly owned subsidiary of CarBiz USA Inc.:

1. PREMISES. The Landlord, for and in consideration of
  the rents, covenants, agreements, and stipulations hereinafter mentioned, does
  lease and rent, unto said Tenant, and said Tenant hereby agrees to lease and
  take upon the terms and conditions hereinafter mentioned, the property (hereinafter
  called "premises" or "demised premises"), located at 314 8th Avenue, West, Palmetto,
  Florida 34221, in the County of Manatee, State of Florida.

2. TERM. To have and to hold the premises for a term beginning
  on the 1st day of April, 2004, and ending on the 31st day
  of March, 2009, at midnight, unless renewed, extended, or sooner terminated
  as hereinafter provided.

3. RENTAL. On the commencement of the term, Tenant agrees
  to pay to Landlord, Promptly on the first day of each month, a monthly rental
  in the amount of Three Thousand Dollars ($3,000.00) .

Tenant agrees to pay Landlord, upon the signing of this Lease,
a Security deposit of Three Thousand Dollars ($3,000.00) to secure Tenant's
performance of all Tenant's obligations under this lease.

If Landlord's right to receive payment under this Lease is
disputed, or Tenant receives a request to change the payee, Tenant may not
withhold payments required under this Lease, and during the term of Lease,
unless notified by Landlord in writing (pursuant to paragraph XX) or unless
notified by law, all payments will be made to the Landlord, Tony and Julie
Katsamakis.

4. OPTION TO RENEW: Prior to the expiration of the Term
  of this lease, Landlord shall first offer to release the Premises to Tenant
  by delivering notice thereof to Tenant not less than one hundred eighty days
  (180) prior to the expiration of the Term, with the Fixed Rent during such renewal
  term to be equal to the then fair market rental value of the Premises, and otherwise
  on the same terms and conditions set forth herein. Following the receipt by
  Tenant of such notice, Landlord and Tenant shall negotiate in good faith to
  determine the fair market value of the Premises, and for a period of sixty (60)
  days following Tenant's receipt of such notice, Landlord shall not offer the
  Premises for let to any other party. In the event that Landlord and Tenant are
  unable to agree on the fair market value within sixty (60) days of Tenant's
  receipt of such notice, the right of first offer set forth in this Section
  shall be null and void and Landlord shall have the right to let the Premises,
  following the expiration of the Term.

5. LATE CHARGE. All rents are due on or before the first
  of the month. There are penalties for late payments. The late charge is computed
  at 12% annually after the tenth of each month that payment is delinquent.

6. TENANT'S USE. Tenant shall have the right to use
and/or occupy the Premises as a used car retail establishment, in accordance, to
the rules and regulations specified by the City of Palmetto's conditional use
permit.

7. RESPECTIVE OBLIGATIONS:

              
A. Tenant agrees that this is a triple net lease, and that Tenant accordingly
shall be responsible for all obligations which are normally imposed on the owner
of real estate with respect to the Premises which may accrue during the Term
including, without limitation, responsibility to pay the rent, monthly sales
tax, annual real estate taxes, and for all utilities, including gas, heat,
electric, water, and other public utilities furnished it or consumed by it, in
or upon the demised premises during the term hereof. Tenant will keep the
interior of the demised premises and appurtenances, including plate glass,
electrical wiring, plumbing, heating and air conditioning installations, and any
other system or equipment upon the Premises in good order and repair (excepting
reasonable wear and tear), and in a clean, safe and healthy condition (excepting
however, all repairs made necessary by reason of the happening of fire and other
unavoidable casualty normally covered by insurance) at its own cost and expense.
Tenant shall be responsible for all repairs required, excepting the roof,
exterior walls, structural foundations, and:

See Additional provisions paragraph 36 for further respective
obligations.

              
B. The Landlord shall, at its own cost and expense, maintain the exterior of the
building, the roof and structural members of the building of which the demised
premises form a part. Landlord shall keep the improvements on the Premises free
from water and sewage back-up or overflow with the exception of damage by fire,
casualty, war, or acts of God. However, if any of the aforementioned repairs are
made necessary by reason of Tenant's use and occupancy of the demised premises
in a manner inconsistent with the reasonable use and occupancy thereof, or the
negligence of the Tenant, its agents, servants, employees and invites, or by
reason of alterations made by the Tenant, then and in any of said events, such
repairs shall be made by the Tenant at its own cost and expense.

See Additional provisions paragraph 36 for further respective
obligations.

8. SURRENDER. The Tenant will deliver up and surrender
  to the Landlord possession of the demised premises upon the expiration of this
  Lease or its termination in any way, in as good condition and repair as the
  same shall be at the commencement of said term (loss by fire, casualty, act
  of God, and ordinary wear and decay only excepted) and deliver the keys to the
  office of the Landlord or Landlord's agent. Either Tenant or Landlord may terminate
  this Lease at the expiration of said Lease or any extension thereof by giving
  the other party sixty (60) days written notice prior to the expiration date.
  Tenant will permit Landlord at any time within sixty (60) days prior to the
  expiration of this lease, to place upon the premises any usual "For Lease" signs,
  and permit persons desiring to lease the same to inspect the Premises thereafter.

9. TRADE FIXTURES. All trade fixtures and equipment, owned
  by the Tenant, and installed or placed by it upon the demised premises, may
  be removed by the Tenant at the expiration of this Lease, provided Tenant has
  paid all rent and complied with all of the conditions contained in this Lease
  on the part of the Tenant to be kept and performed. Tenant agrees to repair
  any damage to the building or Premises occasioned by the removing of such trade
  fixtures.

10. DAMAGE OR DESTRUCTION BY FIRE, WAR OR ACTS OF GOD. If
  the premises are destroyed or damaged by fire, acts of war, or acts of God (including
  earthquake, hurricane or flood), to such an extent that they are rendered unfit
  for occupancy in whole or in substantial part, Landlord has the option of rebuilding
  or repairing the same by giving written notice to Tenant within thirty (30)
  days after the occurrence of such damage of its intention to rebuild or repair
  the premises or the part so damaged. If Landlord elects to rebuild or repair
  the premises and does so without unnecessary delay, Tenant shall be bound by
  this Lease, except that during such period, the rent of the premises shall be
  abated in the same proportion that the portion of the premises rendered unfit
  for occupancy by Tenant shall bear to the whole of the leased premises.

A total destruction of the building in which the Premises may
be situated shall terminate this lease.

In the event of a partial destruction of the premises during
the term, which is beyond Tenant's reasonable control, from any other cause,
except in the case where the premises is damaged by fire or other casualty
resulting from any act or negligence of Tenant or any of Tenant's agents,
employees or invitees, as previously discussed, Landlord shall forthwith repair
the same, provided that such repairs can be made within sixty (60) days under
existing governmental laws and regulations, but such partial destruction shall
not terminate this lease. Tenant shall be relieved from paying rent and other
charges during any portion of the Lease term that the premises are inoperable or
unfit for occupancy, or use, in whole or in part, for Tenant's purposes, except
in the case where the premises is damaged by fire or other casualty resulting
from any act or negligence of Tenant or any of Tenant's agents, employees or
invitees, as previously discussed. In making the repairs called for in this
paragraph, Landlord shall not be liable for any delays resulting from strikes,
governmental restrictions, inability to obtain necessary materials or labor or
other matters which are beyond the reasonable control of Landlord.

In the event said repairs cannot be made within sixty (60) days
or Landlord shall not elect to make such repairs that cannot be made within
sixty (60) days, this lease may be terminated at the option of either party.

In the event that the building in which the demised premises
may be situated is destroyed to an extent of not less than two-thirds of the
replacement cost, Landlord may elect to terminate this lease whether the demised
premises be injured or not.

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11. ASSIGNMENT. If this Lease be assigned or the demised
  premises or any part thereof be sublet or occupied by anybody other than Tenant,
  Landlord will, providing Tenant is not in Default of terms of Lease, require
  the Subletee or assignee to execute an instrument in writing fully assuming
  all of the agreements and obligations imposed upon Tenant under this Lease,
  whereupon Tenant shall be discharged from any further liability hereunder.

However, no assignment or subletting shall be made without
Landlord's prior written consent and approval of prospective Sublette or
assignee. Any such assignment or subletting without the written consent shall be
void and, at the option of Landlord, may terminate this Lease. Nothing herein
contained shall be construed as obligating the Landlord to give its written
consent.

12. COVENANT OF TITLE, LEINS AND ENCUMBRANCES:

              
A. Tenant shall have no authority to create any lien, charge, encumbrance or
recording upon the Premises. If any mechanic's, or other liens, or order for the
payment of money, shall be filed against the demised premises, or any building
or improvements thereon, by reason of change and alteration or addition made or
alleged to have been made, by or for the Tenant, or the cost or expense thereof,
or any contracts relating thereto, the Tenant shall cause the same to be
canceled and discharged of record, by bond or otherwise, at the election and
expense of the Tenant, and shall also defend on behalf of the Landlord, at the
Tenant's sole cost and expense, any action, suit or proceeding which may be
brought thereon for the enforcement of such lien, charge or orders, and the
Tenant will pay any damage and satisfactorily discharge any judgment entered
therein, and save harmless the Landlord from any claim, attorney fees or damage
therefore.

              
B. If any mechanic's or other lien, or order for payment of money, shall be
filed against the demised premises, or on any building or improvements thereon,
for any of the reasons provided in this section, and shall not be removed by the
Tenant within ten (10) days after notice given by the Landlord, the Landlord
shall have the right to remove same by payment or otherwise, and all sums
expended by the Landlord for such removal, including counsel fees, shall be paid
by the Tenant unto the Landlord upon demand, and shall be deemed to be
additional rent due under this Lease.

              
C. Landlord has good title to the Premises, free and clear of all liens,
encumbrances, easements, tenancies or restrictions (excepting the City of
Palmetto's Conditional Use Permit) that would prevent, interfere with or in any
way affect Tenant's business operations in or on the Premises.

13. GOVERNMENT REGULATIONS. Subject to the provisions
  that this section shall not be applicable to the roof and/or structural parts
  of the demised premises, Tenant agrees at its own cost and expense, during the
  term of this Lease, to comply with all orders, rules, regulations and requirements
  of every kind and nature relating to the premises, now or hereafter in force
  and effect of the federal, state, county, municipal or other governmental authorities,
  applicable to the manner of Tenant's use and occupancy thereof, or alterations
  made by the Tenant, and the Tenant will pay all costs and expenses incidental
  to such compliance and will indemnify and save harmless the Landlord free of
  expense or damage by reason of any notice, violations or penalties filed against
  or imposed upon the premises, or against the Landlord as owner thereof, because
  of the failure of the Tenant to comply with the provisions of this section.
  Should the Tenant fail to comply with any of the provisions contained in this
  section, the Landlord may, after ten (10) days notice to the Tenant, comply
  therewith, and the cost and expense of so doing may be paid by the Landlord,
  or may be charged against the Tenant as additional rent, becoming due upon demand.
  Tenant agrees to indemnify and save harmless the Landlord from and against any
  and all judgments, decrees, penalties, costs and expenses, by reason of such
  non-compliance.

14. INSURANCE AND HOLD HARMLESS:

              
A. The Tenant will, during the term of this Lease, indemnify the Landlord and
hold it harmless against all claims, demands, and judgments for loss, damage or
injury to property or person resulting or occurring by reason of the use and
occupancy of the demised premises. Tenant agrees that, at its own cost and
expense, it shall procure and continue in force, with the Landlord named as
additional insured, general garage liability insurance against any and all
claims for injuries to persons or property occurring in, upon or about the
demised premises, including all damage from signs, glass, awnings, fixtures or
other appurtenances, now or hereafter upon the demised premises, during the term
of this Lease, such insurance at all times to be in an amount not less than
$1,000,000 limit for each 

3

occurrence. Such insurance shall be written in the company or
companies authorized to engage in the business of general liability insurance in
the State of Florida, and there shall be delivered to the Landlord
customary certificates evidencing such paid insurance, which certificates
are to be issued by the insurance companies.

              
B. The policies of insurance provided herein are to be provided by the Tenant,
and should be for a period of not less than twelve (12) months, it being
understood and agreed that fifteen (15) days prior to the expiration of any
policy of insurance the Tenant will deliver to the Landlord a renewal or new
policy to take the place of the policy expiring, with further understanding that
should the Tenant fail to furnish policies as is provided in this Lease, and at
the times herein provided, the Landlord may obtain such insurance and the
premiums on such insurance shall be deemed additional rent to be paid by the
Tenant unto the Landlord upon demand.

              
C. The Landlord will, during the term of this Lease, keep in force commercial
property coverage for the building against loss by fire and damage (not
including flood insurance) in an amount equal to full replacement value. Any
policy kept in force by the Landlord will not list the Tenant as an additional
insured. All insurance policies shall be placed with reputable and solvent
insurance companies licensed to do business in the state of Florida.

              
D. The Tenant shall be responsible, at it's own expense, for fire, theft, flood,
or extended coverage insurance on all of its commercial liability, personal
property, inventory, and removable trade fixtures, located in or on the
premises.

              
E. If the Premises is damaged by fire or other casualty resulting from any act
or negligence of Tenant or any of Tenant's agents, employees or invitees, rent
shall not be diminished or abated while such damages are under repair, and
Tenant shall be responsible for the costs of repair or replacement not covered
by insurance.

15. DEFAULT AND LANDLORD REMEDY. Should the Tenant allow
  any payment hereinabove to become delinquent and remain delinquent for thirty
  (30) days after the same is due, or fail to promptly perform any of the covenants
  herein made, then this Lease shall be in default and the Landlord shall have
  the right to re-enter and take possession of the premises, and/or this Lease
  may be terminated at Landlord's option. Bankruptcy of Tenant or any assignment
  for the benefit of creditors shall likewise operate as a termination of the
  Tenant's right of possession of the premises and shall not waive Landlord's
  right or stop Landlord from repossessing the premises for subsequent defaults,
  and in any such events, the Tenant agrees to peacefully surrender possession
  of the premises to the Landlord. It is further agreed that in the event Tenant
  fails to pay the rental above required or should it default in any of its other
  covenants with Landlord set forth herein so that it becomes necessary for Landlord
  to employ an attorney to collect rents or to recover possession of the premises
  or to enforce any covenant made by the Tenant hereunder, then Tenant shall pay
  all costs of collection and expenses of recovery of possession or costs and
  expenses of any action so required, including reasonable attorneys' fees through
  appeal. The remedies provided herein are cumulative to those provided by law,
  and the right of the Landlord to declare the term at an end and to reenter the
  premises, and shall not in any manner affect the right of the landlord to terminate
  and declare the Lease void and ended.

16. LANDLORD ENTRY. The Landlord may, during the term of
this Lease, at reasonable times, enter to inspect the premises, or to make any
alterations or repairs to the demised premises that may be necessary for its
safety or preservation, and may show the premises and building to others, and at
any time within three (3) months immediately preceding the expiration of said
term may affix to any suitable part of said premises a notice for leasing or
selling the premises or building and cause the said notice to remain affixed
without hindrance or molestation. Such notice shall not be placed on the show
windows or entrance of the demised premises.

17. NOTICES. Until Tenant is notified otherwise in writing,
  the checks for rental accruing hereunder shall be forwarded to the Landlord,
  Tony and Julie Katsamakis, at 601 E. Lincolnway, Cheyenne, WY, 82001, and all
  notices given to the Landlord hereunder, shall be forwarded to the Landlord
  at the above address, by registered or certified mail, return receipt requested.
  Until Landlord is notified otherwise in writing, all notices given to the Tenant
  hereunder shall be forwarded to Tenant at Carbiz USA Inc., 7405 N. Tamiarni
  Trail, Sarasota, FL, 34243, by registered or certified mail, return receipt
  requested. Notice shall be deemed given when the same is deposited in the United
  States registered or certified mail with sufficient postage prepaid thereon
  to carry the letter to its addressed destination.

18. BINDING ON SUCCESSORS. That the respective rights
  and obligations hereunder shall inure to, and be 

4

binding upon, the respective heirs distributes, devisees, legal
and personal representatives, assigns, grantees and successors in interest of
the Landlord, and shall inure to, and be binding upon, the permitted assigns and
successors in interest of the Tenant.

19. DAMAGE TO PREMISES. The Landlord shall not be liable
  for any damages done or occasioned by or from plumbing, gas, water, steam or
  other pipes, or sewage or the bursting, leaking or running of any cistern, tank,
  wash stand, water closet or waste pipe in, above, upon or about said premises,
  nor for damage occasioned by water being upon or coming through the roof, skylight,
  doors, or otherwise, nor for any damage arising from the acts and negligence
  of Tenants or other occupants or adjoining or contiguous property, unless such
  damage is occasioned by the negligence of the Landlord.

20. SUBORDINATION AND ATTORNMENT. This Lease shall be
  subject and subordinate at all times to the lien of all mortgages and trust
  deeds in any amount or amounts whatsoever now or hereafter placed on or against
  the Building or the Premises or on or against Landlord's interest or estate
  therein, all without the necessity of having further instruments executed on
  the part of Tenant to effectuate such subordination; provided that in the event
  of a foreclosure of any such mortgage or trust deed or any other action or proceeding
  for the enforcement thereof, or of any sale or exchange of property, this Lease
  will not be barred, terminated, cut off, abated, or foreclosed, nor will the
  rights and possession of Tenant hereunder be disturbed if there shall exist
  no Event of Default with respect to the payment of Rent or any other Event of
  Default hereunder.

Tenant shall attorn to the purchaser at any such foreclosure,
sale or other action or proceeding or, if requested, enter into a new lease for
the balance of the Term then remaining upon the same terms and provisions as are
in this Lease contained. Tenant agrees to execute and deliver upon demand such
further instruments evidencing such subordination of this Lease to the lien of
any such mortgages or trust deeds as may be required by Landlord.

If Landlord's right to receive payment under this Lease is
disputed, or Tenant receives a request to change the payee, Tenant "may not"
withhold payments required under this Lease, and during the term of Lease,
unless notified by Landlord in writing (pursuant to paragraph XX) or unless
notified by law, all payments will be made to the Landlord, Tony and Julie
Katsamakis.

21. SIGNS. Notwithstanding any provisions to the contrary,
  Tenant shall have the right to install and maintain at its own expense a store
  front sign with Tenant's insignia and trade name subject to the prior written
  approval of the Landlord; provided, however, that nothing herein contained shall
  be construed to permit Tenant to affix any sign to the roof of the premises.
  Landlord shall not unreasonably withhold its consent to Tenant's placement of
  the sign on the store front if such sign is in general conformity with the signs
  as they exist within the Commercial Arcade.

22. GOVERNING LAW. This Lease shall be enforced in accordance
  with the laws of the State of Florida. Tenant, guests and invitees of either
  Tenant or guests will not use the premises in such a manner that violates any
  law, ordinance, statutes or requirement of any municipal, state or federal authority
  now in force, or which may hereafter be in force, pertaining to the Premises.

23. CAPTIONS. Any headings preceding the text of the several
  paragraphs and subparagraphs hereof, are inserted solely for convenience of
  reference and shall not constitute a part of this Lease, nor shall they affect
  its meaning, construction, or effect.

24. EMINENT DOMAIN. Tenant shall not be entitled to any
  award made in any eminent domain proceedings with respect to the land or building
  included within the demised premises for its leasehold interest therein; provided,
  further, that nothing herein contained shall be construed to affect the right
  to the Tenant to recover for any loss or damage which it may suffer by reason
  of loss of business, interruption of business, which may result from such condemnation
  or eminent domain proceedings.

25. ALTERATIONS/IMPROVEMENTS. Tenant agrees that during
  the term of this Lease it will make no structural improvements or alterations
  to the demised premises without first obtaining the prior written consent of
  the Landlord. Tenant, at Tenant's own expense, shall have the right following
  Landlord's written consent, to remodel, and make additions, improvements and
  replacements of and to all or part of the Premises, provided any and all improvements
  become the Landlord's sole and absolute property.

5

Unless authorized by law, Tenant will not, without Landlords
prior written consent, alter, re-key or install any locks to the Premises or
install or alter any burglar alarm system. Tenant will provide Landlord with a
key or keys capable of unlocking all such re-keyed or new locks as well as
instructions on how to disarm any altered or new burglar alarm system. Except as
provided by law or as authorized by the prior written consent of Landlord.

26. RECORDATION. This Lease shall not be recorded.

27. FORCE MAJEURE. Landlord shall be excused for the period
  of any delay in the performance of any obligations hereunder when prevented
  from so doing by cause or causes beyond Landlord's control which shall include,
  without limitation, all labor disputes, civil commotion, war, war-like operations,
  invasions, rebellion, hostilities, military or usurped power, sabotage, governmental
  regulations or controls, fire or other casualty, inability to obtain any material,
  services or financing or through acts of God.

28. ASSESSMENTS. The parties acknowledge that any assessments
  or impositions, whether by state, municipal, district, school, or otherwise,
  which are imposed in addition to real property taxes (such as solid waste disposal
  assessments), are solely the responsibility of Tenant and not the Landlord.

29. NO CONTINUING WAIVER No waiver of any default hereunder
  shall be implied from any omission by either party to take any action on account
  of such default if such default persists or is repeated, and no express waiver
  shall affect any default other than the default specified in the express waiver,
  and then only for the time and to the extent therein stated. No delay or omission
  by either party hereto to exercise any right or power accruing upon any noncompliance
  or default by the other party with respect to any of the terms hereof, or otherwise
  accruing hereunder, shall impair any such right or power or be construed to
  be a waiver thereof. One or more waivers of any breach of any covenant, term
  or condition of this lease shall not be construed as a waiver of any subsequent
  breach of the same covenant, term or condition. The consent or approval by a
  party to any act by the other party requiring the former party's consent or
  approval shall not be deemed to waive or render unnecessary such former party's
  consent or approval to any subsequent similar acts by the other party.

30. INVALID PROVISION. If anyone or more of the provisions
  contained in this Lease shall for any reason be held to be invalid, illegal,
  or unenforceable in any respect, such invalidity, illegality, or unenforceability
  shall not affect any other provision thereof, and this Lease shall be construed
  as if such invalid, illegal, or unenforceable provision had never been contained
  herein.

31. EXCULPATION. Notwithstanding anything contained in
  this Lease to the contrary, Tenant agrees that Tenant shall look solely to the
  estate and interest of Landlord in the Commercial subject, however, to the rights
  of any landlord under any ground lease or superior lease or the holder of any
  mortgage on the Commercial Arcade, for the satisfaction of any right of Tenant,
  for the collection of any judgment or other judicial process or arbitration
  award requiring the payment of money by landlord in the event of any default
  or breach by Landlord with respect to any of the terms, conditions or provisions
  of this Lease to be performed and/or observed by Landlord, and no other property
  or assets of Landlord or any partner (whether general partner or limited partner),
  officer, director, principal (disclosed or undisclosed), agent, incorporation,
  shareholder, or affiliate of Landlord shall be subject to levy, lien, execution,
  attachment or other enforcement procedure for the satisfaction of the rights
  and remedies of Tenant under or in respect of this Lease or under law, or the
  use and occupancy of the demised premises by Tenant. or any other liability
  of Landlord to Tenant.

The term "Landlord" as used in this Lease means the landlord,
only for the time being, of the demised premises. So long as all sums held in
escrow by Landlord are paid over to any purchaser of said premises,

6

Landlord shall be and is hereby relieved of all covenants and
obligations of Landlord hereunder after the date of transfer of said demised
premises, and it shall be construed without further agreement between the
parties that the transferee has assumed and agree to carry out any and all
covenants and obligations of Landlord hereunder from the date of such
transfer.

32. ENVIRONMENTAL, HAZARDOUS WASTE AND RADON GAS:

              
A. Tenant covenants and agrees to comply with all applicable environmental and
other federal, state and local governmental statutes, ordinances, rules and
regulations relating to the presence of hazardous substances, hazardous wastes,
pollutants or contaminants. Tenant agrees and does hereby indemnify Landlord and
hold it harmless from any loss, damage, or expense, including reasonable
attorney's fees and costs and expenses of any appeal, which Landlord may incur
or suffer by reason of any claim or liability arising from Tenant's
noncompliance with applicable laws and the terms of this paragraph. Tenant
specifically covenants and agrees that no hazardous substances, hazardous waste
or waste byproducts, pollutants or contaminants, shall be dumped in any trash
receptacle, or otherwise, in, on, or about the Premises.

These covenants and indemnities shall survive the termination
of this Lease.

              
B. RADON GAS. Radon is a naturally occurring radioactive gas that, when it has
accumulated in a building in sufficient quantities, may present health risks to
persons who are exposed to it over time. Levels of radon that exceed federal and
state guidelines have been found in buildings in Florida. Additional information
regarding radon and radon testing may be obtained from your county public health
unit. This notice is given pursuant to Florida Statutes Sec. 404.056(8) .

              
C. As of the starting date of this Lease, Landlord assures that no part of the
Premises contain Hazardous Materials (hereafter defined) or asbestos containing
materials ("ACM"). If any testing or examination indicates the presence of
Hazardous Materials or ACM, Tenant will give Landlord 30 days notice to remove
or remedy the Hazardous Materials or ACM and to restore the Premises and/or
Easements. If, within 30 days of receipt of notice, Landlord has not completed
the removal, remediation or restoration, Tenant may terminate this Lease upon 30
days notice to Landlord. All removal, remediation or restoration of the Premises
shall be performed in compliance with all applicable laws, rules, regulations
and ordinances governing same.

              
Hazardous Materials is defined to include, without limitation, (1)
polychlorinated biphenyl compounds ("PCB") or any material composed of or
containing PCB, (2) any hazardous, toxic or dangerous waste, substance or
material as from time to time defined by any federal, state or local
environmental, health or safety statute, ordinance, code, rule, regulation,
order or decree now or hereafter in force and (3) mold or other biological
agents in a form that poses a threat to the health or safety of occupants of the
Premises.

33. QUIET ENJOYMENT. Landlord covenants that if and so
  long as Tenant shall faithfully perform the covenants and agreements of this
  Lease, Tenant shall and may (subject to the exceptions, reservations, terms
  and conditions of this Lease) peaceably and quietly have, hold and enjoy the
  Premises for the Term free of any interference by Landlord or anyone claiming
  through or by Landlord except those to which this Lease is expressly made subject
  and subordinate.

34. WAIVER OF JURY: Parties hereby knowingly, voluntarily,
  and intentionally waive any right they may have to a jury trial in respect to
  any litigation (including but not limited to any claims, cross-claims,
  or third party claims) arising under, or in connection with this lease, the
  premises or the transactions contemplated herein. Tenant hereby certifies that
  neither Landlord, or its representative or agent or counsel has represented,
  expressly or otherwise, that Landlord would not, in the event of such litigation,
  seek to enforce this waiver or right to jury trial provision. Tenant acknowledges
  that Landlord has been induced to enter into this lease by the provision of
  this paragraph.

35. TENANT AS CORPORATE ENTITY: If Tenant is a corporation,
  each person executing this lease represents and warrants that he or she is duly
  authorized to sign, execute and deliver this lease on behalf of the corporation.
  Those persons further represent that the terms of this lease are binding upon
  the corporation.

7

Upon execution of this lease, Landlord requests a certified
copy, along with affixing the corporate seal upon the corporate resolution
authorizing this lease be attached to this document.

36. ADDITIONAL PROVISIONS. Upon commencement of this Lease:

              
A. Landlord will reexcavate the overflow water drainage ditch. Tenant agrees to
maintain and keep the ditch excavation and retention pond clear of all weeds,
leaves, tires, trash or any other debris so that the overflow water may drain
freely to the street.

              
B. Landlord will trim or cut back all trees on the Premises. Tenant agrees to
maintain the pruning and removal of debris created by any trees on Premises in
the future.

              
C. Landlord will repair broken fence boards, and remove landscaping growth on
our side of the wooden fence. Tenant will maintain fence and repairs.

              
D. Landlord will install new air conditioning/heating unit and will
rebuild/remodel HVAC closet. Tenant will maintain unit with annual HVAC check,
change of air filters according to manufacturer's recommendation, and vacuuming
of metal grate. Tenant agrees to keep air flow free of any restrictions or
debris in, on or around HVAC closet or air return area.

              
E. Landlord will repair interior base trim where trim is broken near HVAC closet
Landlord will repair exterior/interior trim at the base of main entry door, and
base trim where missing in main office.

              
F. Tenant at its own cost, expense, discretion will install and/or maintain
existing landscaping, including sprinkler system.

              
G. Tenant will at its own cost, be responsible for restoring and/or maintaining
the current burglar alarm system.

              
H. Landlord will replace the small refrigerator in the reception area. Tenant
will maintain the appliance

              
I. Landlord will initially have the exterior of the building and roof pressure
washed and defungacide. Tenant will maintain annual pressure washes and
defungacing of the roof. Protection of the Tenants vehicle inventory from over
spray will be Tenant's responsibility.

              
J. Tenant at its own discretion of use and cost will maintain exterior pole
lighting.

              
K Initially, Landlord will make any necessary repairs made to asphalt parking
lot. Tenant will maintain asphalt lot, including sealing.

37. ENTIRE AGREEMENT: The foregoing constitutes the entire
  agreement between the parties and may be modified only by a written agreement
  signed by both parties.

8

BY THEIR signatures below, Landlord and Tenant indicate their
consent to the terms of this Lease, and Tenant acknowledges receipt of an
executed copy of this lease.

	LANDLORD: 	  	TENANT: 
	 	 	 
	 	 	 
	/s/ Tony Katsamakis 	04/19/04 	Carbiz Auto Credit, Inc. 
	Tony Katsamakis 	Date 	  
	 	 	 
	 	 	 
	/s/ Julie Katsamakis 	04/19/04 	By:
      /s/ Carl W.
      Ritter                             
       
	Julie Katsamakis 	Date 	  
	  	  	Name: Carl W.
      Ritter                              
       
	 	 	 
	  	  	Title:
      CEO                                                
       
	 	 	 
	  	  	Date:
      04/19/04                                         
       
	 	 	 
	  	  	AFFIX CORPORATE SEAL:

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