Document:

EXHIBIT 10.1

                            SECOND AMENDMENT TO LEASE

         This Second Amendment to Lease ("Agreement") made and entered into as
of May ___ 2004, by and between BURNSVILLE BLUFFS OPERATING ASSOCIATES, LIMITED
PARTNERSHIP, (hereinafter called the "Landlord") and BRAEMAR, INC. OF NORTH
CAROLINA, A NORTH CAROLINA CORPORATION, (hereinafter called "Tenant").

                                   WITNESSETH

         WHEREAS, by Lease dated 26 day of July, 1994 (the "Lease Agreement"),
Assigned and Amended on the 15th day of October, 1997, and Amended on the 27th
day of May, 1999, Landlord leased to Tenant approximately 14,709 rentable square
feet of space (the "Premises") in Landlord's property presently known as
Burnsville Bluffs III Business Center and located at 11401 Rupp Drive,
Burnsville, Minnesota, (the "Project"); and

         WHEREAS, the Landlord and Tenant desire to amend the Lease as provided
herein.

                           STATEMENT OF THE AGREEMENT

         NOW THEREFORE, in consideration of the mutual covenants herein set
forth, and for other good and valuable consideration, the receipt and
sufficiency of which are hereby acknowledged, it is agreed as follows:

         1. Paragraph 1 of the Lease is amended so that the term of the Lease
for the Premises shall be extended commencing September 1, 2004, and shall
continue up to and including February 28, 2006 ("extended term").

         2. Paragraph 2 of the Lease is amended so that the base rental rate for
the extended term shall be as follows:

                  (a) Beginning September 1, 2004, and continuing through August
         31, 2005, Annual Base Rent shall be One Hundred Two Thousand Two
         Hundred Twenty-Seven and 55/100 ($102,227.55), or Six and 95/100
         dollars ($6.95) per square foot, payable in twelve equal monthly
         installments of Eight Thousand Five Hundred Eighteen and 96/100 Dollars
         ($8,518.96), due and payable without demand on the first day of each
         month.

                  (b) Beginning September 1, 2005, and continuing through
         February 28, 2006, Annual Base Rent shall be One Hundred Six Thousand
         Six Hundred Forty and 25/100 dollars ($106,640.25), or Seven and 25/100
         dollars ($7.25) per square foot, payable in twelve equal monthly
         installments of Eight Thousand Eight Hundred Eighty Six and 69/100
         Dollars ($8,886.69), due and payable without demand on the first day of
         each month.

         3. Landlord and Tenant each warrant to the other that it has not dealt
with any broker or agent in connection with the negotiation or execution of this
Agreement except Landlord's Broker (Paramount Real Estate Corporation).

<PAGE>

         4. This Agreement and all of the terms, covenants, conditions,
provisions and restrictions herein contained shall inure to the benefit of and
be binding upon the heirs, executors, administrators, successors and assigns,
respectively, of both Landlord and Tenant.

         5. Tenant Improvements - Landlord will remove and replace existing
carpet in the hallway from the lunchroom to the inspection room, in the
lunchroom, and in the corridor outside the restrooms ($16.50/yard material
allowance).

         6. Right to Terminate - Provided Tenant is not in default on any of the
terms, conditions or covenants of the Lease, Landlord shall grant Tenant a
one-time right to terminate this lease on September 1, 2005. In order to execute
this right, Tenant must notify Landlord in writing of its intent to terminate on
or before May 1, 2005. In addition, with written notice, Tenant will pay all
unamortized transaction costs, tenant improvements, commissions, and the rent
difference of thirty cents per square foot ($.30/psf) for six (6) months, which
totals $5,400.85.

Except as amended herein, all terms, covenants and provisions of the Lease shall
be and remain in fullo force and effect and are hereby ratified and confirmed.
In the event of any conflict between the terms of the Lease and the terms of
this Agreement, the terms of this Agreement shall control. Unless otherwise set
forth, the defined terms used in this Agreement shall have the same meanings as
set forth in the Lease.

         IN WITNESS WHEREOF, the parties hereto have executed this Agreement on
the day and year written above,

                                        LANDLORD:

                                        BURNSVILLE BLUFFS OPERATING ASSOCIATES,
                                        LIMITED PARTNERSHIP
                                        By BGK Burnsville, LLC, General Partner

                                        /s/ Cheryl S. Willoughby
                                        ----------------------------------------
                                        Cheryl S. Willoughby
                                        Executive Vice President and COO

                                        TENANT:

                                        BRAEMAR, INC. OF NORTH CAROLINA

                                        /s/
                                        ----------------------------------------

                                        Print Name:
                                                    ----------------------------
                                        Title:
                                               ---------------------------------
                                        Date:
                                              ----------------------------------

                                      -2-

<PAGE>

                         SUPPLEMENT AND AMENDMENT NO. 1
                               TO LEASE AGREEMENT

THIS AGREEMENT made effective the 27th day of May 1999 between Burnsville-Dakota
Business Center Associates, a New Mexico limited partnership ("Landlord"), AMP
of North Carolina ("Assignor"), and Braemar Inc. of North Carolina, a North
Carolina Corporation ("Tenant").

WHEREAS, Northwestern National Life Insurance Company, Landlord's predecessor in
interest, and Carlisle Corporation, Assignor's predecessor in interest, entered
into a certain lease agreement dated July 26, 1994 pertaining to Suite 11480 of
the Burnsville Bluff III Business Center (the "Premises"), located at 11401 Rupp
Drive, Burnsville, Minnesota, containing approximately 14,709 rentable square
feet (the "Lease Agreement");

WHEREAS, Assignor and Tenant have requested that Assignor be permitted to assign
to Tenant the interest of Assignor under the Lease Agreement, and extend the
Term thereof, and Landlord has agreed to such request but only on the terms and
conditions hereinafter set forth.

NOW, THEREFORE, in consideration of the premises and mutual covenants and
conditions contained herein, it is hereby agreed that the Lease Agreement shall
be, and it hereby is supplemented and amended as follows:

1.       Effective September 1, 1999, Assignor does hereby assign to Tenant and
         Tenant does hereby accept and take from Assignor, all right, title and
         interest of Assignor, as tenant, under the Lease Agreement, as herein
         supplemented and amended. Tenant hereunder agrees to be bound by all of
         the provisions of the Lease Agreement, as hereby supplemented and
         amended, and shall keep and perform promptly each and every term,
         covenant and condition of the Lease Agreement, as hereby supplemented
         and amended, which is to be kept and performed by the tenant thereunder
         for the balance of the Term thereof, for the benefit of Landlord,
         including, but not limited to, the obligation to pay Rent Payments and
         Additional Rent directly to the Landlord.

2.       The Term of the Lease Agreement shall be, and it hereby is extended to
         August 31, 2002, subject, however, to Paragraph 4, of this Supplement
         and Amendment No. 1.

3.       Commencing September 1, 1999 and on the first day of each and every
         month thereafter to and including August 1, 2002, Tenant shall pay to
         Landlord as per Paragraph 3, "Rent Payments" of the Lease Agreement,
         monthly rent for the Premises of $8,518.96 subject, however, to
         Paragraph 4, of this Supplement and Amendment No. 1.

4.       Subject to the terms and conditions set forth herein and in the Lease
         Agreement and provided Tenant is not in default under the Lease
         Agreement at the time Tenant gives the "Option to Extend Notice"
         (hereafter defined) or at any time thereafter up to and including the
         extension term effective date, Tenant shall have the right to extend
         the Term of the Lease Agreement an additional two year period to expire
         on August 31, 2004. Tenant shall exercise such right by giving written
         notice to Landlord of Tenant's election to extend no later than July
         15, 1999, time being of the essence (the "Option to Extend Notice"). If
         such "Option to Extend Notice" is timely given by Tenant, the Lease
         Term shall be extended so as to expire August 31, 2004 and Tenant shall
         pay Landlord monthly Rent Payments on the first day of each and every
         month thereafter as follows:

-------------------------------------------------------------------------------
        PERIOD OF EXTENDED TERM                MONTHLY RENT PAYMENT
-------------------------------------------------------------------------------
         9-1-1999 to 8-31-2001                       $7,906.09
-------------------------------------------------------------------------------
         9-1-2001 to 8-31-2003                       $8,212.53
-------------------------------------------------------------------------------
         9-1-2003 to 8-31-2004                       $8,518.96
-------------------------------------------------------------------------------

                                      -3-
<PAGE>

         If the "Option to Extend Notice" is not timely given by Tenant to
         Landlord, this Paragraph 4 shall be null and void and of no further
         force or effect.

                                      -4-
<PAGE>

5.       Tenant hereunder acknowledges it shall be occupying the Premises in its
         "as is" condition.

6.       Assignor and Tenant represent and warrant that Tenant is a "Lessee
         Affiliate" as defined in Article 24 of Lease Exhibit E annexed to the
         Lease Agreement.

7.       Except as hereinabove supplemented and amended, all of the terms,
         covenants and conditions of the Lease Agreement shall remain in full
         force and effect, and are hereby ratified and confirmed.

IN WITNESS WHEREOF, the parties hereto have executed this Agreement to be
effective the day and year first above written.

-------------------------------------------------------------------------------
LANDLORD:                                    TENANT:  BRAEMAR, INC.
CENTER, LIMITED PARTNERSHIP BURNSVILLE-
DAKOTA BUSINESS
By:  BGK Equities, Inc., General Partner

By:   /s/
      ----------------------------------
Its:  Senior Vice President                  By:   /s/
      ----------------------                       ----------------------------
Date: June 9, 1999                           Its:  President
      ------------                                 ---------
                                             Date: May 27, 1999

ASSIGNOR:
AMP OF NORTH CAROLINA

By:   /s/ Ronald G. Moyer
      ----------------------------------
Its:  CEO
      ---
Date: June 2, 1999
      ------------

--------------------------------------------------------------------------------

                                      -5-
<PAGE>

                       ASSIGNMENT AND ASSUMPTION OF LEASE

         This Assignment and Assumption of Lease (this "Agreement") is entered
into as of this 15 day of October, 1997 by and between Carlisle Corporation, a
Delaware corporation ("Assignor") and AMP of North Carolina, Inc., a North
Carolina corporation ("Assignee").

                                R E C I T A L S :

         A. Reference is hereby made to that certain Lease Agreement dated as of
July 26, 1994, by and between Burnsville-Dakota Business Center Associates,
L.P., as successor to Northwest National Life Insurance Company, as Landlord
("Landlord") and Assignor (the "Lease"), relating to that certain property
located at 11401 Rupp Drive, Burnsville, Minnesota.

         B. Pursuant to and accordance with a certain Agreement for Purchase and
Sale of Assets between Braemar, Inc. (a wholly owned subsidiary of Assignor) and
Assignee, Assignor desires to assign all of its right, title and interest in and
to the Lease to Assignee and Assignee desires to assume all of the obligations
of Assignor thereunder.

         NOW, THEREFORE, in accordance with the terms of the Asset Purchase
Agreement and in consideration of the promises contained herein, the foregoing
Recital and good and other valuable consideration as set forth in the Asset
Purchase Agreement, the receipt and sufficiency of which are hereby acknowledged
to the full satisfaction of Assignor, Assignor hereby agrees with Assignee as
follows:

         1. Assignment and Assumption of Lease. Assignor hereby assigns and
transfers to Assignee, its successor and assigns, all of Assignor's right, title
and interest in and to the Lease. Assignee hereby agrees to assume and accept
the assignment and delegation of all of Assignor's right, title and interest in
and to the Lease and shall perform all of Assignor's obligations under the Lease
which are to be performed thereunder as and from the date hereof.

         2. Representations and Warranties. Assignor hereby represents and
warrants to Assignee as follows:

                  (a) The Lease is valid and in full force and effect as of the
         date hereof;

                  (b) The Assignor is not in default under any term of the
         Lease;

                  (c) The Assignor is current as of the date hereof in its rent
         payments under the Lease; and

                  (d) The Lease has not been modified, supplemented or amended
         in any way.

         3. Counterparts. This Agreement may be executed in any number of
counterparts, each of which shall be deemed an original, but all of which shall
constitute one and the same instrument.

                   [SIGNATURE PAGE AND ACKNOWLEDGMENTS FOLLOW]

<PAGE>

         IN WITNESS WHEREOF, Assignor and Assignee each have executed this
Agreement as of the date first above written.

                                            CARLISLE CORPORATION

                                        By: /s/
                                            -----------------------------------

                                            AMP OF NORTH CAROLINA, INC.

                                        By: /s/ Ronald G. Moyer, President
                                            -----------------------------------

                                      -7-
<PAGE>

STATE OF NEW YORK        )
COUNTY OF ONONDAGA       )

         On the 15th day of October, 1997 before me appeared Steven J. Ford the
Secretary of Carlisle Corporation, a Delaware corporation, and acknowledged the
foregoing to be his or her free act and deed and the free act and deed of such
corporation.

                                        /s/
                                        ---------------------------------------
                                        Notary Public

STATE OF SOUTH CAROLINA  )
COUNTY OF LEXINGTON      )

         On the 15th day of October, 1997 before me appeared Ronald G. Meyer the
President of AMP of North Carolina, Inc., a North Carolina corporation, and
acknowledged the foregoing to be his or her free act and deed and the free act
and deed of such corporation.

                                        /s/
                                        ---------------------------------------
                                        Notary Public

                                      -8-
<PAGE>

                         CONSENT TO ASSIGNMENT OF LEASE

         The undersigned, BURNSVILLE-DAKOTA BUSINESS CENTER ASSOCIATES, L.P., as
successor to NORTHWEST NATIONAL LIFE INSURANCE COMPANY, hereby consents to the
Assignment and Assumption of Lease from CARLISLE CORPORATION to AMP of NORTH
CAROLINA, INC. in the form attached hereto.

Dated:  October 15, 1997

--------------------------------------------------------------------------------
WITNESSES:

                                           BURNSVILLE-DAKOTA BUSINESS CENTER
---------------------------------------      ASSOCIATES, L.P.

                                           By: /s/
                                               --------------------------------

                                           Print Name: Cheryl S. Willoughby
                                                       --------------------
                                           Title: Senior Vice President
                                                  ---------------------

--------------------------------------------------------------------------------

                                      -9-
<PAGE>

STATE OF NEW MEXICO

COUNTY OF SANTA FE

On the 15th day of October, 1997, before me personally appeared Cheryl S.
Willoughby, the Senior Vice President of BGK Equities, Inc., a New Mexico
Corporation and the sole general partner of Burnsville-Dakota Business Center
Associates, Limited Partnership, a New Mexico Limited Partnership, and
acknowledged the foregoing to be her free act and deed and the free act and deed
of such corporation, on behalf of said corporation.

                                        /s/
                                        ---------------------------------------
                                        Notary Public

                                        My Commission Expires:  7/26/2000

                                      -10-
<PAGE>

                                 LEASE AGREEMENT

THIS LEASE, made this 26th day of July, 1994, by and between Northwestern
National Life Insurance Company, c/o Washington Square Capital, Inc.,
hereinafter called "Lessor," and Carlisle Corporation DBA Braemar, Inc.,
hereinafter called "Lessee."

         WITNESSETH: That Lessor, in consideration of the rents and covenants
hereinafter mentioned, does hereby demise, lease and let unto Lessee, and Lessee
does hereby hire and take from the Lessor the following described premises,
located in Burnsville, County of Dakota, and State of Minnesota, namely:

         1. DESCRIPTION. Address: 11401 Rupp Drive, Building Square Footage:
78,473, Premises Square Footage: 14,709, Percentage Share: 18.75%, Parking
Stalls: N/A, Lease Term: 5 years, From: 9-1-94 To: 8-31-99, Monthly Rent: See
Exhibit E Use of Premises: Office and Manufacturing.

         2. LEASE. In consideration of these mutual agreements and provisions,
Lessor leases to Lessee and Lessee leases from Lessor the above premises for the
above use and in compliance with Federal, State and Local Regulations and the
Rules and Regulations established by Lessor and attached hereto as Exhibit C.

         3. RENT PAYMENTS. Lessee shall pay to Lessor in advance, the stated
monthly rent on or before the first day of each month with said amount to be
prorated for the first and last month of the lease term if occupancy by Lessee
shall begin or end on a day other than the first of the month. Lessor shall have
the right to assess and collect from Lessee a late charge of five (5) percent of
rent payments received after the fifteenth of the month, said amount to be paid
with the next installment of monthly rent. Failure on behalf of Lessee to make
these rent payments until proper termination of this Agreement will result in
the right of Lessor to exercise legal remedies.

         4. ADDITIONAL RENT. In addition to the above rent payments, Lessee
shall pay to Lessor its percentage share of real estate taxes, including
installments of special assessments payable therewith, due and payable upon the
building and land in any calendar year during the term hereof, together with its
percentage share of any insurance premiums required to be paid by Lessor on the
building or its operations including property and liability, and management
fees, security costs, and other operating expenses relating to the property.
This additional rent shall be paid in equal monthly installments during the
calendar year in which Lessor shall be required to make such payments. If the
amount of such payments are not known at the beginning of the calendar year,
Lessee shall pay a reasonable estimate of the amount thereof, as determined by
Lessor, with a retroactive adjustment made at such time as the actual amount
shall be determined.

         5. SECURITY DEPOSIT. Upon the date hereof, Lessee shall pay to Lessor
the amount of $23,044.10 half of which shall be the payment of rent for the
first month of occupancy and the remaining half of which shall be a Security
Deposit to guarantee the payment of rent and the performance of all terms of
this Agreement. Upon the occurrence of any default by Lessee, Lessor may use
said Security Deposit to the extent necessary to make good any arrearages of
rent or any other expense. Any remaining balance of said Security Deposit shall
be returned to Lessee upon compliance with the terms herein and acceptance of
the vacated premises by Lessor. Lessee understands that its liability is not
limited to the amount of the Security Deposit and use of such deposit by Lessor
shall not constitute a waiver, but is in addition to other remedies available to
Lessor under this Agreement and Law. Upon the use of all or part of the Security
Deposit to cure defaults of Lessee, Lessee shall forthwith deposit with Lessor
the amount of the Security Deposit so used.

         6. OCCUPANCY. Lessor agrees to deliver the premises in a safe, broom
clean and usable condition, in compliance with all applicable Building Codes. In
the event Lessee is prevented from occupying the premises at the start of the
above term due to delays by Lessor, the rent shall be abated for each day
occupancy is delayed, but the lease term will still end on the date set forth
above.

         7. UTILITIES. Lessee shall pay for all utilities, including gas,
electricity, water, sewer and telephone services for the premises during the
term of this Agreement. The common area utilities which serve the premises are
separately metered and Lessee shall pay its percentage share of any such utility
expense.

                                      -11-
<PAGE>

         8. STRUCTURAL MAINTENANCE. Lessor shall, at its expense, keep the
structural parts of the building in good repair, including the structural parts
of the exterior walls, roof, floor, foundation, and interior columns except that
Lessor shall not be responsible for repairs caused by the fault or negligence of
Lessee, its employees, or invitees.

         9. EXTERIOR MAINTENANCE. Lessor shall contract for, and Lessee shall
pay its percentage share of all common areas heat, electricity, water, sewer,
landscape care, snow removal, window washing, parking lot maintenance, exterior
painting and all other such maintenance required during the term of this
Agreement. All services shall be provided for the comfortable use of the
premises during business hours provided that Lessor is not liable for damages
for failure to provide services due to causes beyond its reasonable control.
Lessor shall provide Lessee, upon demand, with satisfactory evidence that these
expenses have been incurred.

         10. INTERIOR MAINTENANCE. Lessee shall be responsible for the interior
maintenance of the premises including maintenance, repair or replacement of
entrance door, overhead garage doors, heating, plumbing, electrical, mechanical
and air-conditioning fixtures and equipment used by Lessee; the replacement of
all glass broken and expendables, and agrees to keep the premises, and surrender
the premises upon termination of this Agreement, in as good as a condition as
when turned over to it, reasonable wear and tear and damage from the elements
excepted. Maintenance of heating, mechanical and air-conditioning fixtures and
equipment shall specifically include the reasonable cost of quarterly
inspections and repairs performed by an independent mechanical contractor who
shall be contracted for by Lessor.

         11. CASUALTY INSURANCE. Lessor shall maintain and Lessee shall pay its
percentage share of the premium for fire and extended coverage insurance on the
property and any other insurance that Lessor may be required to carry on the
property or its operations. If the use of the premises by Lessee results in any
rate increases for such insurance, Lessee shall correct the circumstances that
cause such rate increase or shall pay such rate increase immediately when due.

         12. LIABILITY INSURANCE. Lessee will maintain in force during the term
of this Agreement a contents and public liability insurance policy with Lessor
named as co-insured; said insurance to afford protection of not less than
$250,000 for injury or death; $1,000,000.00 for any one accident and $250,000
for property damage. Lessee agrees to deliver to Lessor a Certificate of
Insurance with a 30-day cancellation clause, prior to occupancy. Lessor will
require each of the other lessees to carry the same insurance on their contents
and property and will not permit any practice by any lessee that may cause an
increase in the insurance premium for the building without charging said
increase to the causing lessee for the benefit of all other lessees.

         13. WAIVER OF SUBROGATION. Lessor and Lessee each hereby mutually waive
and release all claims and liabilities against the other, and the agents,
servants, employees and invitees of the other, for loss or damage to the
premises or any portion thereof, the building and other improvements of which
the premises are a part, as well as any improvements, fixtures, equipment,
supplies, merchandise and other property located in, upon or about the premises,
resulting from fire, explosion or other perils included in standard fire and
extended coverage insurance, whether caused by the negligence of any of said
persons of entities, or otherwise. It is understood that Lessor and Lessee shall
look solely to their own insurers in the event of casualty.

         14. LOSS PROTECTION. Lessee agrees to hold Lessor harmless from and
indemnify Lessor against any and all liabilities, damages and expenses arising
from injury, damage or loss to or caused by Lessee, its employees, guests,
agents, sub-tenants or visitors, or any property of said persons, in or about
the premises, building or grounds from any cause whatsoever, connected with the
use of or activities in or about the property. Lessee further will make no claim
against Lessor for any loss of or damage to the premises or property of Lessee
caused by theft, burglary, water, gas or other means, unless such loss or damage
is caused solely by the Lessor's gross negligence.

         15. FIXTURES AND EQUIPMENT. All fixtures and equipment considered
necessary to the general operation and maintenance of the property shall be the
property of Lessor, except that any "trade fixtures" provided by Lessee, at its
own expense, shall remain the property of the Lessee and will be removed by
Lessee upon termination of this Agreement. Lessee grants to the Lessor a lien
upon all personal property of Lessee in said

                                      -12-
<PAGE>

premises to secure payment of the rent, and agrees that no such property shall
be removed from said premises while any installments of rent are past due and or
other default exists under this Agreement.

         16. BREACH. A breach of this Agreement shall exist, if at any time
during the term of this Agreement Lessee shall: (a) vacate said premises or
default in the payment of rent or in the performance of any of these provisions;
or (b) make an assignment for the benefit of creditors; or (c) file or have
filed against it, a petition for bankruptcy or arrangement in settlement of
liabilities or reorganization. In such event, Lessor shall have the following
rights:

                  (1) Lessor shall have the right to enter the premises and
         remove all persons and property from the premises and store such
         property in a public warehouse or elsewhere at the cost of Lessee, and
         Lessor may either terminate this Agreement or, without terminating this
         Agreement, make such alterations and repairs as may be necessary in
         order to rent the premises, and rent the premises of any part thereof
         for such term and at such rents and upon such other terms and
         conditions as Lessor, in its sole discretion, may deem advisable. Upon
         such renting, all rentals received by Lessor shall be applied first to
         the payment of any debt other than rent due hereunder from Lessee to
         Lessor, second to pay any reasonable costs and expenses of such
         renting, including brokerage and legal fees; third to pay any rent due
         hereunder, and the residue, if any, shall be held by Lessor and applied
         in payment of future rent which becomes due and payable hereunder. If
         the rental received from renting the premises is less than the rent
         payable hereunder, Lessee shall pay any such deficiencies, monthly, to
         Lessor. No entry or taking possession of the premises by Lessor shall
         be an election by Lessor to terminate this Agreement.

                  (2) Lessor shall also have the right to terminate this
         Agreement in which event, in addition to any other remedies Lessor may
         have, Lessor may recover from Lessee all damages incurred by reason of
         Lessee breach, including the cost of recovering the premises,
         reasonable legal fees and any excess of the rent reserved in this
         Agreement for the remainder of the stated term over the then reasonable
         rental value of the premises for the remainder of the stated term, all
         of which shall be immediately due and payable from Lessee to Lessor.

                  (3) Lessor may, at its option, instead of exercising any other
         right or remedy, spend such reasonable sums as may be reasonably
         necessary to cure any default of Lessee and such amount, including
         legal fees, shall be paid by Lessee, as additional rent, upon demand.

                  (4) Any remedy of Lessor herein or by law or statute shall be
         cumulative with all other remedies and may be exercised from time to
         time and as often as the occasion may arise.

                  (5) No forbearance by Lessor to exercise any right accruing to
         Lessor hereunder shall be construed as a waiver of any such rights.

         17. IMPAIRMENT OF USE. If the premises shall become untenantable or
unfit for occupancy, in whole or in part, by the total or partial destruction of
the building by fire or other casualty, this Agreement may, at the option of the
Lessor, cease and terminate and Lessee shall have no claim against Lessor for
the value of any unexplored term of said Agreement. If Lessor shall elect to
restore the premises, rent shall be abated for each period of restoration in
accordance with the ratio of the portion of the premises deemed untenantable to
the entire premises.

         18. CONDEMNATION. If the whole or any part of the demised premises
shall be acquired or condemned by eminent domain for any public or quasi-public
use or purpose, then, and in the event, the term of this Agreement may, at the
option of the Lessor, cease and terminate from the date the title vests and
Lessee shall have no claim against Lessor for the value of any unexpired term of
said Agreement.

         19. OTHER PAYMENTS. In addition to the rent set forth herein, all other
payments to be made by Lessee to Lessor hereunder shall constitute rent as
herein defined.

         20. HOLDING OVER. If Lessee remains in possession of the premises after
expiration of the lease term, without the execution of a new lease, it shall be
deemed to be occupying the premises as a Lessee from month

                                      -13-
<PAGE>

to month, subject to all the conditions provisions and obligations of this
Agreement insofar as the same can be applicable to a month-to-month tenancy,
provided, however, that the basic rent required to be paid by Lessee during any
holdover period shall be a minimum of 200% of the basic monthly rent required as
set forth above. Any holding over, however, shall not be considered a renewal of
this Agreement.

         21. MORTGAGE LIEN. This Agreement is subject to the terms and the lien
of present and future mortgage deeds securing the premises.

         22. EXHIBIT. Any and all exhibits attached to this Agreement shall be a
part of this Agreement and any amendments hereto shall be in writing and
executed by both Lessor and Lessee.

         23. RULES AND REGULATION. Lessee has read and agrees to be bound by the
Rules and Regulations of Lessor attached hereto as an exhibit to this Agreement,
and acknowledges that a violation of any of said Rules and Regulations shall
constitute a breach of the provisions of this Agreement. Such Rules and
Regulations may be added to or amended from time to time by Lessor for the
benefit of all lessees within the building, and such additions or amendments
shall become effective immediately upon notification, provided that such changes
do not materially or adversely affect Lessee's business or permitted use of the
Premises.

         24. ASSIGNMENT OR SUBLETTING. Lessee will not mortgage, assign or
otherwise encumber this Lease, or allow the premises to be assigned by operation
of law or otherwise, or sublet premises or any part thereof, or use or permit
the same to be used for any other purpose than stated in the use clause hereof
without prior written consent of Lessor, which consent shall not be unreasonably
withheld. Notwithstanding the foregoing, in the event the Lessee desires to
assign or sublet the premises Lessee shall provide Lessor with not less than
sixty (60) days prior written notice of Lessee's proposed action, specifying in
detail any and all terms of such assignment or sublease. In the event an
assignment or sublease is approved by Lessor, Lessee shall pay to Lessor an
assignment or subletting fee of ten percent (10%) of one month's Rent for the
space involved but not less than $250.00. Lessor reserves the right to cancel
and terminate this Lease in whole, or as to the part sublet, within sixty (60)
days after receipt of such notice from Lessee. No assignment or subletting shall
relieve Lessee from its obligations hereunder. See Exhibit E.

         25. HAZARDOUS SUBSTANCES. Lessee specifically agrees to not use, or
permit the use or storage of any hazardous substances within the premises.
Lessee agrees that the terms "hazardous substance" shall have the meaning set
forth on Exhibit D and that Lessee shall not permit the use of storage of any
such hazardous substance within the premises other than set forth in Exhibit D
or as may from time to time be added or deleted from said list with the approval
of the Lessor, which approval shall not be unreasonably withheld.

         26. ALTERATIONS, ADDITIONS, IMPROVEMENTS. Lessee will not make or allow
to be made any alteration or additions in or to the premises without the prior
written consent of Lessor. Such alterations, physical additions or improvements
as well as those improvements made at the Lessee's expense such as by way of
example but not limitation: wall coverings, floor coverings or carpet, paneling,
doors and hardware, any and all of such improvements shall become the property
of the Lessor and shall in no event be removed by the Lessee . It is the
responsibility of the Lessee to restore the premises to the condition that
existed when Lessee first took possession (ordinary wear and tear excepted) if
Lessor so requests. This clause shall not apply to movable non-attached fixtures
or furniture of the Lessee. If any mechanic's lien is filed against the premises
or the real estate of which the premises form a part, which lien concerns the
Lessee and/or the premises, Lessee shall cause same to be discharged of record,
by bonding or otherwise, within ten (10) days after the lien is filed. Nothing
herein contained shall be deemed to be a consent by Lessor to the providing of
any labor or materials to the premises by Lessee which could give rise to
mechanics liens. Lessee shall at the request of Lessor, post the premises with
appropriate notices as requested by Lessor to give notice to laborers and
suppliers that no mechanic's lien may attach to the Lessor's interest therein.

         27. ESTOPPEL CERTIFICATE. The Lessee agrees that from time to time upon
not less than ten (10) days prior request by Lessor, the Lessee, or Lessee's
duly authorized representative having knowledge of the following facts, will
deliver to Lessor a statement in writing certifying (a) that this Lease is
unmodified and in full force and effect (or if there have been modifications
that the lease as modified is in full force and effect); (b) the dates to which
the Rent and other charges have been paid; and (c) that the Lessor is not in
default under any

                                      -14-
<PAGE>

provision of this Lease, or, if in default, the nature thereof in detail. The
Lessee hereby appoints the Lessor as attorney-in-fact for the Lessee with full
power and authority to execute and deliver in the name of the Lessee any such
certificate in the event the Lessee fails to do so on request.

         28. SUBMISSION. Submission of this instrument to Lessee or proposed
Lessee or his agents or attorneys for examination, review, consideration or
signature does not constitute or imply an offer to lease, reservation of space,
or option to lease, and this instrument shall have no binding legal effect until
execution hereof by both Lessor and Lessee or its agents.

IN WITNESS WHEREOF, the parties have caused this Agreement to be signed by their
proper officers or representatives and warrant that they have the authority to
bind same.

--------------------------------------------------------------------------------
LESSOR:                                     LESSEE:

Northwestern National Life Insurance        Carlisle Corporation
   Company                                  250 South Clinton Street,
c/o Washington Square Capital, Inc.            Suite 201
100 Washington Avenue Square, Suite 800     Syracuse, NY  13202-1258
Minneapolis, MN  55401-2147

By: /s/                                     By: /s/
    ---------------------------------           --------------------------------

Its:                                        Its:
    -----------------------------------         --------------------------------

--------------------------------------------------------------------------------

                                      -15-

<PAGE>

                                    EXHIBIT B

                             LEASEHOLD IMPROVEMENTS

1.       Leasehold Improvements are according to the space plans dated 7-15-94
         with costs not to exceed $100,338.00, and additional Leasehold
         Improvements are to be at Lessee's expense.

         INITIALS

         LESSOR:      LESSEE:

         ------       ------

         ------       ------

<PAGE>

                                    EXHIBIT C

                              RULES AND REGULATIONS

                                            LEASE DATE: July 26, 1994

         Lessee has read and agrees to be bound by the following Rules and
Regulations of Lessor and acknowledges that a violation of any said rules shall
constitute a breach of the provisions of the Lease Agreement of the above date.
Said Rules and Regulations may be added to or amended from time to time by
Lessor for the benefit of all lessees within the building, provided that such
changes do not materially or adversely affect Lessee's business or permitted use
of the Premises, and such additions or amendments shall become effective
immediately upon notification.

         1.       TRASH. Each lessee shall provide its own dumpster for trash
                  and agrees not to leave or store any materials, litter or
                  trash on the grounds or parking areas.

         2.       DISTURBANCE. No noise, or conduct, shall be permitted at any
                  time which will disturb or annoy other lessees.

         3.       PARKING. The use of parking shall be subject to reasonable
                  regulations as Lessor may promulgate from time to time
                  uniformly for all lessees. Lessee agrees that it will not use
                  more than its prescribed number of stalls at any one time, and
                  will not use or permit the use by its employees of the parking
                  area for the overnight storage of automobiles or other
                  vehicles. There will not be any assigned exclusive parking
                  spaces available to any lessee of the building except with
                  prior written consent of Lessor and due notification of all
                  lessees by written notice.

         4.       SIGNS. No sign, advertisement, or other lettering shall be
                  painted, affixed, or exposed on windows or doors or any part
                  of the building or property without the prior written consent
                  of the Lessor. All identification signs shall be as per the
                  building standards.

         5.       ALTERATIONS. No interior alterations, connection, painting or
                  redecorating of a permanent nature may be done to the unit
                  without written approval of Lessor. Lessee agrees that all
                  such approved work shall be done in a good, workmanlike manner
                  in conformance with applicable building codes, that no liens
                  shall attach to the premises by reason thereof, and that the
                  premises shall be restored to their original condition by the
                  Lessee prior to the expiration of the Agreement. Failure to
                  remove fixtures and equipment shall constitute abandonment to
                  the Lessor who may remove said fixture and equipment, and
                  restore the premises to their original condition, at the
                  expense of the Lessee.

         6.       FIXTURE MOVEMENT. Lessee agrees that any and all furniture,
                  fixtures and goods will be moved by the Lessee whenever such
                  moving is necessary for the purpose of building repair and/or
                  maintenance by Lessor.

         7.       ACCESS. Lessor or authorized agent, has the right to enter the
                  unit at any reasonable time to inspect, make repairs or
                  alternations as needed, and three (3) months prior to the
                  termination of this Agreement to display the unit to
                  prospective tenants, and to place on doors and windows
                  appropriate notice that the premises are for rent.

         8.       LOCKS. No additional locks will be placed on any of the doors
                  in the building without the prior written approval of Lessor,
                  and in such event, Lessor shall receive an access key to such
                  locks.

         9.       STORAGE. Storage and installation of any machinery, part,
                  materials, equipment, shelving or furniture of any type
                  whatsoever, constitutes occupancy, requires payment of rent
                  for each day the space is so used, and is specifically
                  disallowed unless approved in writing by Lessor.

         IN WITNESS WHEREOF, Lessor and Lessee have caused this Exhibit to be
executed by their proper officers or representatives, by such execution agree to
be bound by the provisions contained herein. This Exhibit shall be attached to
and become a part of the Lease Agreement of the above date.

         INITIALS

         LESSOR:      LESSEE:

         ------       ------

         ------       ------

<PAGE>

                                    EXHIBIT D

                              HAZARDOUS SUBSTANCES

         The Lessee, its employees and/or invitees shall not without the prior
written consent of Lessor bring into the premises or common areas, or permit to
be in the premises or common areas, or release from the premises or common areas
any "HAZARDOUS SUBSTANCES". For purposes hereof, "HAZARDOUS SUBSTANCES" shall
mean any toxic or hazardous substance or waste, pollutant or contaminant
(including, without limitation, asbestos, urea formaldehyde, the group of
organic compounds known as polychlorinated biphenyls, petroleum products
including gasoline, fuel oil, crude oil and various constituents of such
product(s) and any hazardous substance as defined in any state, local or federal
law, regulation, rule, policy or order relating to the protection of the
environment.

         Notwithstanding any termination of the Lease, the Lessee will indemnify
and hold the Lessor harmless from any cost, expense, or damage resulting from a
violation of this Exhibit, and will, upon request from the Lessor promptly
remove, at its sole expense, any material so brought or released in violation of
this Exhibit. The Lessor may, from time to time, inspect the Leased Premises to
determine compliance with this Exhibit, and require the Lessee certify to such
compliance. A violation of this Exhibit is a breach for which the Lessor need
not provide notice or a period to cure, and any contrary provision in this Lease
is hereby modified to so provide.

              EACH ITEM ON THE FOLLOWING CHECKLIST MUST BE ANSWERED

         1.       Will any chemicals be used or stored on the premises?
                                                             [X] YES     [_] NO

         If yes, list all chemicals that are to be used or stored in the
         premises.

          NORMAL ELECTRONIC ASSEMBLY A LIST WILL BE PROVIDED
         -----------------------------------------------------------------------

         -----------------------------------------------------------------------

         -----------------------------------------------------------------------
                  If more space is required, attach a signed list to this
                  Exhibit.

         2.       Will any materials be used or stored on the premises that
                  appear on any local, state or federal list of "HAZARDOUS
                  SUBSTANCES"?     [_] YES    [X] NO    If yes, list all items
                  in the space provided.

         -----------------------------------------------------------------------

         -----------------------------------------------------------------------

         -----------------------------------------------------------------------

         3.       Do you have any permits to handle, use or store "HAZARDOUS
                  SUBSTANCES"?    [_] YES    [X] NO
         If yes, attach copies of these permits to this Exhibit.

         4.       Will any flammables be used or stored on the premises?
                                                             [_] YES     [X] NO
         If yes, list all type, quantities and how the flammable will be stored.

         -----------------------------------------------------------------------

         -----------------------------------------------------------------------

         -----------------------------------------------------------------------

         -----------------------------------------------------------------------

         Lessee certifies that the above information is true, complete and
         correct. Further, Lessee understands and agrees that no substances
         other than those listed above and approved by the Lessor may be used or
         stored on the premises and that any additions to the above list must be
         approved in writing by the Lessor or its authorized agent.

         INITIALS

         LESSOR:      LESSEE:

         ------       ------

         ------       ------

<PAGE>

                                 LEASE EXHIBIT E

The Articles as set forth in this Exhibit E Supplement the Lease Agreement
attached hereto and are a binding part thereof. If the provisions of the
following Articles conflict with the provision of the attached Lease Agreement,
then the provisions of the following Articles shall supersede and control any
conflicting provisions in the attached lease.

         ARTICLE 24. ASSIGNMENT OF SUBLETTING. LESSEE AFFILIATE. Lessee may
assign this Lease Agreement or sublease the premises, without Lessor's consent,
to any corporation which controls, is controlled by or is under common control
with Lessee, or to any corporation resulting from the merger of or consolidation
with Lessee ("Lessee's Affiliate"). In such case, any Lessee's Affiliate shall
assume in writing all of Lessee's obligations under this Lease Agreement.

         ARTICLE 1. DESCRIPTION. MONTHLY RENT. It is mutually agreed that the
monthly rent payment shall be in accordance with the following schedule:

--------------------------------------------------------------------------------
         Months                  Net Rent/Sq. Ft.               Net Monthly Rent
================================================================================
         1-24                        $7.00                        $8,580.25
--------------------------------------------------------------------------------
        25-36                         7.25                         8,886.69
--------------------------------------------------------------------------------
        37-60                         7.50                         9,193.13
--------------------------------------------------------------------------------

         ARTICLE 29. NOTICES. Any notices required or permitted to be given
hereunder by one party to the other shall be deemed to be given when personally
delivered to Lessee at the Demised Premises and to Lessor at their office or
mailed, postage prepaid by Certified or Registered mail, addressed to the
respective pay to who notice is intended to be given at the following address of
such party. Notice pertaining the Lease Term, E.G., options, renewals, etc. must
be delivered visa Certified or Registered mail.

        ------------------------------------------------------------------------
        If Lessor:                                    If to Lessee:

        Northwestern National Life Insurance          Carlisle Corporation
           Company                                    250 South Clinton Street,
        c/o Washington Square Capital, Inc.              Suite 201
        100 Washington Avenue Square                  Syracuse, NY  13202-1258
        Suite 800
        Minneapolis, MN  55401-2147                   and

        Attn:  Deborah J. Hildebrand                  Braemar Inc.
                                                      11401 Rupp Drive
        and                                           Burnsville, MN  55337

        Thorpe Bros., Inc.
        8085 Wayzata Blvd.
        Minneapolis, MN  55426

        Attn:  Wiley Vogt
        ------------------------------------------------------------------------

         ARTICLE 30. Provided Lessee is not in default of any terms or
conditions of this Lease Agreement. Lessee shall have the option to extend this
Lease Agreement for one three-year term. Rental rates are to be at the then
market rates.

         INITIALS

         LESSOR:      LESSEE:

         ------       ------

         ------       ------EXHIBIT 10.2

                           COMMERCIAL LEASE AGREEMENT

THIS LEASE, made this 1st day of May, 2003 by and between King Investment
Partners ("Landlord") whose address is PO Box 1762, King, NC 27021 and Carolina
Medical, Inc. (subsidiary of Biotel) ("Tenant") whose address is PO Box 307,
King, NC 27021.

                                   WITNESSETH:

PREMISES
1.    Landlord, for and in consideration of the rents, covenants, agreements,
and stipulations hereinafter mentioned, provided for and covenanted to be paid,
kept and performed by Tenant, leases and rents unto Tenant, and Tenant hereby
leases and takes upon the terms and conditions which hereinafter appear, the
following described property (hereinafter called the "Premises"), to wit:

Address:   157 Industrial Drive, King, NC
        ------------------------------------------------------------------------

Legal Description:   Brick and steel building
                  --------------------------------------------------------------

[_]   See attached Exhibit _____________ for legal description of premises.

TERM
2.    The Tenant shall have and hold the Premises for a term of Five Years*
beginning on the 1st day of May, 2003, and ending on the 30th day of April,
2008, at midnight, unless sooner terminated as hereinafter provided. The first
Lease year Anniversary shall be the date twelve (12) calendar months after the
first day of the first full month of the term hereof and successive Lease Year
Anniversaries shall be the date twelve (12) calendar months from the previous
Lease Year Anniversary. *Three years guaranteed - Years four and five can be
called with a 90 day notice.

RENTAL
3.    Tenant agree to pay Landlord or its Agent without demand, deduction or set
off, an annual rental of $50,400.00 payable in equal monthly installments of
$4,200.00 in advance on the first day of each calendar month during the term
hereof. Upon execution of this Lease, Tenant shall pay to Landlord the first
month's rent due hereunder. Rental for any period during the term hereof which
is less than one month shall be the pro-rated portion of the monthly rental due.
On each Lease Year Anniversary the annual rental payable hereunder (and
accordingly the monthly installments) shall be adjusted:

[_]   by any change in the Consumer Price Index, Urban Wage Earners and Clerical
Workers, All Cities (CPI-W, 1982-1984-100) ("Index") by multiplying the then
effective annual rental by the value of said Index for the month two months
prior to the Lease Year Anniversary and dividing the product by the value of
said Index for the month two months prior to the previous Lease Year Anniversary
(in the instance of the first Lease Year Anniversary the value of the

<PAGE>

Index for the month two months prior to the first full month of the term
hereof). In the event the Index ceases to be published, there shall be
substituted for the Index the measure published by the US Department of Labor
which most nearly approximates the Index;

[_]   as follows:

--------------------------------------------------------------------------------

--------------------------------------------------------------------------------

--------------------------------------------------------------------------------

--------------------------------------------------------------------------------

[_]   If this box is checked, Tenant shall pay all rental to Landlord's Agent at
the following address:

--------------------------------------------------------------------------------

--------------------------------------------------------------------------------

--------------------------------------------------------------------------------

LATE CHARGES
4.    If Landlord fails to receive any rent payment within 30 days after it
becomes due, Tenant shall pay Landlord, as additional rental, a late charge
equal to six percent (6%) of the overdue amount or $250.00 whichever is greater,
plus any actual bank fees incurred for resumed or dishonored checks. The parties
agree that such a late charge represents a fair and reasonable estimate of the
cost Landlord will incur by reason of such late payment.

SECURITY DEPOSIT
5.    Tenant shall deposit with Landlord or its Agent upon execution of this
Lease $0 as a security deposit which shall be held as security for the full and
faithful performance by Tenant of each and every term covenant and condition of
this Lease. If any of the rents or other charges or sums payable by Tenant shall
be over-due and unpaid or should payments be made on behalf of tenant, or should
Tenant fail to perform any of the terms of this Lease, then Landlord or its
Agent may, at its option, appropriate and apply the security deposit, or so much
thereof as may be necessary, to compensate toward the payment of the rents,
charges or other sums due from Tenant, or towards any loss, damage or expense
sustained by Landlord resulting from such default on the part of the Tenant ;
and in such event Tenant shall upon demand restore the security deposit to the
original sum deposited in the event Tenant furnishes Landlord with proof that
all utility bills have been paid through the date of Lease termination, and
performs all of Tenant's other obligations under this Lease, the security
deposit shall be returned in full to Tenant within thirty (30) days after the
date of the expiration or sooner termination of the term of this Lease and the
surrender of the Premises by Tenant in compliance with the provisions of this
Lease. The Security Deposit may be placed in an interest bearing account and any
interest thereon shall be the property of the party holding the sums.

[_]   If this box is checked, Agent shall hold the Security Deposit and shall be
entitled to the interest thereon.

                                       2
<PAGE>

UTILITY BILLS
6.    (a)      Tenant shall pay the following utilities: All.

      (b)      Landlord shall pay the following utilities: None.

Responsibility to pay for a utility service shall include all metering, hook-up
fees or other miscellaneous charges associated with this installation and
maintenance of such utility in said party's name.

COMMON AREA COSTS; RULES AND REGULATIONS
7.    If the Premises are part of a larger building or group of buildings,
Tenant shall pay as additional rental monthly, in advance, its pro rata share of
common area maintenance costs as hereinafter more particularly set forth in the
Special Stipulations (see Paragraph 38). The Rules and Regulations, if any,
attached hereto are made a part of this Lease. Tenant agrees to perform and
abide buy these Rules and Regulations, if any, and such other Rules and
Regulations, if any, as may be made from time to time by Landlord.

USE OF PREMISES
8.    The Premises shall be used for Manufacture, sales and repair of electronic
equipment purposes only and no other. The Premises shall not be used for any
illegal purposes, nor in any manner to create any nuisance or trespass, nor in
any manner to vitiate the insurance or increase the rate of insurance on the
Premises. In the event Tenant's use of the Premises results in an increase in
the rate of insurance on the Premises, Tenant shall pay to Landlord, upon demand
and as additional rental, the amount of any such increase.

TAX AND INSURANCE ESCALATION
9.    Tenant shall pay upon demand as additional rental during the term of this
Lease, and any extension or renewal thereof;

[_]   The amount by which all taxes (including but not limited to, ad valorem
taxes, special assessments and any other governmental charges) on the Premises
for each tax year exceed all taxes on the Premises for the tax year __________;
or

[X]   all taxes (including but not limited to, ad valorem taxes, special
assessments and any other governmental charges) on the Premises for each tax
year.

In the event the Premises are less than the entire property assessed for such
taxes for any such tax year, then the tax for any such year applicable to the
Premises shall be determined by proration on the basis that the rentable floor
area of the Premises bears to the rentable floor area of the entire property
assessed. If the final year of the Lease term fails to coincide with the tax
year, then any excess for the tax year during which the term ends shall be
reduced by the pro rata part of such tax year beyond the Lease term. If such
taxes for the year in which the Lease terminates are not ascertainable before
payment of the last month's rental, then the amount of such taxes assessed
against the property for the previous tax year shall be used as a basis for
determining the pro rata share, if any, to be paid by Tenant for that portion of
the last Lease year.

                                       3
<PAGE>

Tenant shall further pay upon demand as additional rental during the term of
this Lease, and any extension or renewal thereof:

[_]   the excess cost of fire and extended coverage insurance including any and
all public liability insurance on the building over the cost of the first year
of the Lease term for each subsequent year during the term of this Lease; or

[X]   all fire and extended coverage insurance including any and all public
liability insurance on the building.

In the event the Premises are less than the entire property, then the insurance
payable by Tenant for the Premises shall be determined by proration on the basis
that the rentable floor area of the Premises bears to the rentable floor area of
the entire property. Tenant shall pay all taxes and insurance as provided herein
within fifteen (15) days after receipt of notice from Landlord as to the amount
due. Tenant shall be solely responsible for insuring Tenant's personal and
business property and for paying any taxes or governmental assessments levied
thereon.

INDEMNITY; INSURANCE
10.   Tenant agrees to act and hereby does indemnify and save Landlord harmless
against all claims for damages to persons or property by reason of Tenant's use
or occupancy of the Premises, and all expenses incurred by Landlord because
thereof, including attorney's fees and court costs. Supplementing the foregoing
and in addition thereto, Tenant shall during the term of this Lease and any
extension or renewal thereof, and at Tenant's expense, maintain in full force
and effect comprehensive general liability insurance with limits of $__________
per person and $__________ per accident, and property damage limits of
$_________, which insurance shall contain a special endorsement recognizing and
insuring any liability accruing to Tenant under the first sentence of this
paragraph and naming Landlord as additional insured. Tenant shall provide
evidence of such insurance to Landlord prior to the commencement of the term of
this Lease. Landlord and tenant each hereby release and relieve the other, and
waive any right of recovery, for loss or damage arising out of or incident to
the perils insured against which perils occur in, on or about the Premises,
whether due to the negligence of Landlord or Tenant or their agents, employees,
contractors and/or invitees, to the extent such loss or damage is within the
policy limits of said comprehensive general liability insurance. Landlord and
Tenant shall, upon obtaining the polices of insurance required, give notice to
the insurance carrier or carriers that the foregoing mutual waiver of
subrogation is contained in this Lease.

REPAIRS BY LANDLORD
11.   Landlord agrees to keep in good repair the roof, foundation and exterior
walls of the Premises (exclusive of all glass and exclusive of all exterior
doors) and underground utility and sewer pipes outside the exterior walls of the
building, except repairs rendered necessary by the negligence or intentional
wrongful acts of Tenants, its agents, employees or invitees. If the Premises are
part of a larger building or group of buildings, then to the extent that the
grounds are common areas, Landlord shall maintain the grounds surrounding the
building, including paving, the mowing of grass, care of shrubs and general
landscaping. Tenant shall promptly report in writing to Landlord any defective
condition known to it which Landlord is required to

                                       4

<PAGE>

repair and failure to report such conditions shall make Tenant responsible to
Landlord for any liability incurred by Landlord by reason of such conditions.

REPAIRS BY TENANT
12.   Tenant accepts the Premises in their present condition and as suited for
the uses intended by Tenant. Tenant shall, throughout the initial term of this
Lease, and any extension or renewal thereof, at its expense, maintain in good
order and repair the Premises, including the building, heating and air
conditioning equipment (including but not limited to replacement of parts,
compressors, air handling units and heating units) and other improvements
located thereon, except those repairs expressly required to be made by Landlord
hereunder. Unless the grounds are common areas of a building(s) larger than the
Premises, Tenant further agrees to care for the grounds around the building,
including paving, the mowing of grass, care of shrubs and general landscaping.
Tenant agrees to return the Premises to Landlord at the expiration or prior
termination of this Lease, in as good condition and repair as when first
received, natural wear and tear, damage by storm, fire, lightning, earthquake or
other casualty alone excepted. Tenant, Tenant's employees, agents, contractors
or subcontractors shall take no action which may void any manufacturers or
installers warranty with relation to the Premises. Tenant shall indemnify and
hold Landlord harmless from any liability, claim, demand or cause of action
arising on account of Tenant's breach of the provisions of this paragraph.

ALTERATIONS
13.   Tenant shall not make any alterations, additions, or improvements to the
Premises without Landlord's prior written consent. Tenant shall promptly remove
any alterations, additions or improvements constructed in violation of this
Paragraph upon Landlord's written request. All approved alterations, additions,
and improvements will be accomplished in a good and workmanlike manner, in
conformity with all applicable laws and regulations, and by a contractor
approved by Landlord, free of any liens or encumbrances. Landlord may require
Tenant to remove any alterations, additions or improvements (whether or not made
with Landlord's consent) at the termination of the Lease and to restore the
Premises to its prior condition, all at Tenant's expense. All alterations,
additions and improvements which Landlord has not required Tenant to remove
shall become Landlord's property and shall be surrendered to Landlord upon the
termination of this Lease, except that Tenant may remove any of Tenant's
machinery or equipment which can be removed without material damage to the
Premises. Tenant shall repair, at Tenant's expense, any damage to the Premises
caused by the removal of any such machinery or equipment.

REMOVAL OF FIXTURES
14.   Tenant may (if not in default hereunder) prior to the expiration of this
Lease, or any extension or renewal thereof, remove all fixtures and equipment
which it has placed in the Premises, provided Tenant repairs all damage to the
Premises caused by such removal.

DESTRUCTION OF OR DAMAGE TO PREMISES
15.   If the Premises are totally destroyed by storm, fire, lightning,
earthquake or other casualty, this lease shall terminate as of the date of such
destruction and rental shall be accounted for as between Landlord and Tenant as
of that date. If the premises are damaged but not wholly destroyed by any such
casualties, rental shall abate in such proportion as effective use of the

                                       5

<PAGE>

Premises has been affected and Landlord shall restore Premises to substantially
the same condition as before damage as speedily as is practicable, whereupon
full rental shall recommence.

GOVERNMENTAL ORDERS
16.   Tenant agrees, at its own expense, to comply promptly with all
requirements of any legally constituted public authority made necessary by
reason of Tenant's occupancy of the Premises. Landlord agrees to comply promptly
with any such requirements if not made necessary by reason of Tenant's
occupancy. It is mutually agreed, however, between Landlord and Tenant, that if
in order to comply with such requirements the cost to Landlord or Tenant, as the
case may be, shall exceed a sum equal to one year's rent, then Landlord or
Tenant, whichever is obligated to comply with such requirements, may terminate
this Lease by giving written notice of termination to the other party by
registered mail, which termination shall become effective sixty (60) days after
receipt of such notice and which notice shall eliminate the necessity of
compliance with such requirements by giving such notice unless the party giving
such notice of termination shall, before termination becomes effective, pay to
the party giving notice all cost of compliance in excess of one year's rent, or
secure payment of said sum in manner satisfactory to the party giving notice.

CONDEMNATION
17.   If the whole of the Premises, or such portion thereof as will make the
Premises unusable for the purposes herein leased, is condemned by any legally
constituted authority for any public use or purpose, then in either of said
events the term hereby granted shall cease from the date when possession thereof
is taken by public authorities, and rental shall be accounted for as between
Landlord and Tenant as of said date. Such termination, however, shall be without
prejudice to the rights of either Landlord or Tenant to recover compensation and
damage caused by condemnation from the condemnor. It is further understood and
agreed that Tenant shall not have any rights in any award made to Landlord by
any condemnation authority.

ASSIGNMENT AND SUBLETTING
18.   Tenant shall not, without the prior written consent of Landlord, which
shall not be unreasonably withheld, assign this Lease or any interest hereunder,
or sublet the Premises or any part thereof, or permit the use of the Premises by
any party other than the Tenant. Consent to any assignment or sublease shall not
impair this provision and all later assignments or subleases shall be made
likewise only on the prior written consent of Landlord. The Assignee or Tenant,
at option of Landlord, shall become directly liable to Landlord for all
obligations of Tenant hereunder, but no sublease or assignment by Tenant shall
relieve Tenant of any liability hereunder.

EVENTS OF DEFAULT
19.   The happening of any one or more of the following events (hereinafter any
one of which may be referred to as an "Event of Default") during the term of
this Lease, or any renewal or extension thereof, shall constitute a breach of
this Lease on the part of the Tenant: (a) Tenant fails to pay the rental as
provided for herein; (b) Tenant abandons or vacates the Premises; (c) Tenant
fails to comply with or abide by and perform any other obligations imposed upon
Tenant under this Lease; (d) Tenant is adjudicated bankrupt; (e) A permanent
receiver is

                                       6

<PAGE>

appointed for Tenant's property and such receiver is not removed within sixty
(60) days after written notice from Landlord to Tenant to obtain such removal;
(f) Tenant, either voluntarily or involuntarily, takes advantage of any debt or
relief proceedings under any present or future law, whereby the rent or any part
thereof is, or is proposed to be reduced or payment thereof deferred; (b) Tenant
makes an assignment for benefit of creditors; or (h) Tenant's effects are levied
upon or attached under process against Tenant, which is not satisfied or
dissolved within thirty (30) days after written notice from Landlord to Tenant
to obtain satisfaction thereof.

REMEDIES UPON DEFAULT
20.   Upon the occurrence of Event of Default, Landlord may pursue any one or
more of the following remedies separately or concurrently, without prejudice to
any other remedy herein provided or provided by law; (a) if the Event of Default
involves nonpayment of rental and Tenant fails to cure such default with five
(5) days after receipt of written notice thereof from Landlord, or if the Event
of Default involves a default in performing any of the terms or provisions of
this Lease other than the payment of rental and Tenant fails to cure such
default within fifteen (15) days after receipt of written notice of default from
Landlord, Landlord may terminate this Lease by giving written notice to Tenant
and upon such termination shall be entitled to recover from tenant damages as
may be permitted under applicable law; or (b) if the Event of Default involves
any matter other than those set forth in item (a) of this paragraph, Landlord
may terminate this Lease by giving written notice to Tenant and, upon such
termination, shall be entitled to recover from the Tenant damages in an amount
equal to all rental which is due and all rental which would otherwise have
become due throughout the remaining term of this Lease, or any renewal extension
thereof (as if this Lease had not been terminated); or (c) upon any Event of
Default, Landlord, as Tenant's agent, without terminating this Lease, may enter
upon and rent the Premises, in whole or in part, at the best price obtainable by
reasonable effort, without advertisement and by private negotiations and for any
term Landlord deems proper, with Tenant being liable to landlord for the
deficiency, if any, between Tenant's rent hereunder and the price obtained by
Landlord on reletting, provided however, that Landlord shall not be considered
to be under any duty by reason of this provision to take any action to mitigate
damages by reason of Tenant's default. In the event Landlord hires an attorney
to enforce its rights upon default, Tenant shall in addition be liable for
reasonable attorney's fees and all costs of collection.

EXTERIOR SIGNS
21.   Tenant shall place no signs upon the outside walls or roof of the
Premises, except with the express written consent of the Landlord. Any and all
signs placed on the Premises by Tenant shall be maintained in compliance with
governmental rules and regulations governing such signs and Tenant shall be
responsible to Landlord for any damage caused by installation, use or
maintenance of said signs, and all damage incident to removal thereof.

LANDLORD'S ENTRY OF PREMISES
22.   Landlord may advertise the Premises "For Rent" or "For Sale" _____________
days before the termination of this Lease. Landlord may enter the Premises at
reasonable hours to exhibit same to prospective purchasers or tenants and to
make repairs required of Landlord under the terms hereof or to make repairs to
Landlord's adjoining property, if any.

                                       7

<PAGE>

EFFECT OF TERMINATION OF LEASE
23.   No termination of this Lease prior to the normal ending thereof, by lapse
of time or otherwise, shall affect Landlord's right to collect rent for the
period prior to termination thereof.

MORTGAGEE'S RIGHTS
24.   Tenant's rights shall be subject to any bona fide mortgage, deed of trust
or other security interest which is now or may hereafter be placed upon the
Premises by Landlord. Tenant shall, if required by Landlord, execute a separate
agreement reflecting such subordination, and shall be obligated to execute such
documentation as may facilitate Landlord's sale or refinancing of the Premises,
including but not limited to estoppel certificates, subordination or attornment
agreements.

QUIET ENJOYMENT
25.   So long as Tenant observes and performs the covenants and agreements
contained herein, it shall at all times during the Lease term peacefully and
quietly have and enjoy possession of the Premises, but always subject to the
terms hereof. Provided, however, that in the event Landlord shall sell or
otherwise transfer its interest in the Premises, Tenant agrees to attorn to any
new owner or interest holder and shall, if requested by Landlord, execute a
separate agreement reflecting such attornment, provided that said agreement
requires the new owner or interest holder to recognize its obligations and
Tenant's rights hereunder.

HOLDING OVER
26.   If Tenant remains in possession of the Premises after expiration of the
term hereof, with Landlord's acquiescence and without any express agreement of
the parties, Tenant shall be a tenant at will at the rental rate which is in
effect at end of this Lease and there shall be no renewal of this Lease by
operation of law. If Tenant remains in possession of the Premises after
expiration of the term hereof without Landlord's acquiescence, Tenant shall be a
tenant at sufferance and commencing on the date following the date of such
expiration, the monthly rental payable under Paragraph 3 above shall for each
month, or fraction thereof during which Tenant so remains in possession of the
premises, be twice the monthly rental otherwise payable under Paragraph 3 above.

ATTORNEY'S FEES
27.   In the event that any action or proceeding is brought to enforce any term,
covenant or condition of this Lease on the part of Landlord or Tenant, the
prevailing party in such litigation shall be entitled to recover reasonable
attorney's fees and costs.

RIGHTS CUMULATIVE
28.   All rights, powers and privileges conferred hereunder upon parties hereto
shall be cumulative and not restrictive of those given by law.

WAIVER OF RIGHTS
29.   No failure of Landlord to exercise any power given Landlord hereunder or
to insist upon strict compliance by Tenant of its obligations hereunder and no
custom or practice of the parties at variance with the terms hereof shall
constitute a waiver of Landlord's right to demand exact compliance with the
terms hereof.

                                       8
<PAGE>

ENVIRONMENTAL LAWS
30.   (a)   Tenant shall not bring onto the Premises any Hazardous Materials (as
defined below) without the prior written approval by Landlord. Any approval must
be preceded by submission to Landlord of appropriate Material Safety Data Sheets
(MSD Sheets). In the event of approval by Landlord, Tenant covenants that it
will (1) comply with all requirements of any constituted public authority and
all federal, state, and local codes, statutes, rules and regulations, and laws,
whether now in force or hereafter adopted relating to Tenant's use of the
Premises, or relating to the storage, use, disposal, processing, distribution,
shipping or sales of any hazardous, flammable, toxic, or dangerous materials,
waste or substance, the presence of which is regulated by a federal, state, or
local law, ruling, rule or regulation (hereafter collectively referred to as
"Hazardous Materials"); (2) comply with any reasonable recommendations by the
insurance carrier of either Landlord or Tenant relating to the use by Tenant on
the Premises of such Hazardous materials; (3) refrain from unlawfully disposing
of or allowing the disposal of any Hazardous Materials upon, within, about or
under the Premises; and (4) remove all Hazardous Materials from the Premises,
either after their use by Tenant or upon the expiration or earlier termination
of this lease, in compliance with all applicable laws.

      (b)   Tenant shall be responsible for obtaining all necessary permits in
connection with its use, storage and disposal of Hazardous Materials, and shall
develop and maintain, and where necessary file with the appropriate authorities,
all reports, receipts, manifest, filings, lists and invoices covering those
Hazardous Materials and Tenant shall provide Landlord with copies of all such
items upon request. Tenant shall provide within five (5) days after receipt
thereof, copies of all notices, orders, claims or other correspondence from any
federal, state or local government or agency alleging any violation of any
environmental law or regulation by Tenant, or related in any manner to Hazardous
Materials. In addition, Tenant shall provide Landlord with copies of all
responses to such correspondence at the time of the response.

      (c)   Tenant hereby indemnifies and holds harmless Landlord, its
successors and assigns from and against any and all losses, liabilities,
damages, injuries, penalties, fines, costs, expenses and claims of any and every
kind whatsoever (including attorney's fees and costs, expenses or claims
asserted or arising under the Comprehensive Environmental Response, Compensation
and Liability Act of 1980, as amended, from time to time, and regulations
promulgated thereunder, any so-called state or local "Superfund" or "Superlien"
law, or any other federal, state or local statute, law or ordinance, code, rule,
regulations, order or degree regulating, relating to, or imposing liability or
standards of conduct concerning any Hazardous Materials) paid, incurred or
suffered by, or asserted against, Landlord as a result of any claim, demand or
judicial or administrative action by any person or entity (including
governmental or private entities) for, with respect to, or as a direct or
indirect result of, the presence on or under or the escape, seepage, leakage,
spillage, discharge, emission or release from the Premises on any Hazardous
Materials caused by Tenant or Tenant's agents, employees, invitees or successors
in interest. This indemnity shall also apply to any release of Hazardous
Materials caused by a fire or other casualty to the premises if such Hazardous
Materials were stored on the Premises by Tenant, its agents, employees, invitees
or successors in interest.

                                       9
<PAGE>

      (d)   If tenant fails to comply with the Covenants to be performed
hereunder with respect to Hazardous materials, or if an environmental protection
lien is filed against the premises as a result of the actions of Tenant, its
agents, employees or invitees, then the occurrence of any such events shall be
considered a default hereunder.

      (e)   Tenant will give Landlord prompt notice of any release of Hazardous
Materials, reportable or non-reportable, to federal, state or local authorities,
of any fire, or any damage occurring on or to the Premises.

      (f)   Tenant will use and occupy the Premises and conduct its business in
such a manner that the Premises are neat, clean and orderly at all times with
all chemicals or Hazardous Materials marked for easy identification and stored
according to all codes as outlined above.

      (g)   The warranties and indemnities contained in this Paragraph shall
survive the termination of this Lease.

TIME OF ESSENCE
31.   Time is of the essence in this Lease.

ABANDONMENT
32.   Tenant shall not abandon the Premises at any time during the Lease term.
If Tenant shall abandon the premises or be dispossessed by process of law, any
Personal Property belonging to Tenant and left on the Premises shall, at the
option of Landlord, be deemed abandoned, and available to landlord to use or
sell to offset any rent due or any expenses incurred by removing same and
restoring the Premises.

DEFINITIONS
33.   "Landlord" as used in this Lease shall include the undersigned, its heirs,
representatives, assigns and successors in title to the Premises. "Agent" as
used in this Lease shall mean the party designated as same in Paragraph 34, its
heirs, representatives, assigns and successors. "Tenant" shall include the
undersigned and its heirs, representatives, assigns and successors, and if this
lease shall be validly assigned or sublet, shall include also Tenant's assignee
or sublessees as to the Premises covered by such assignment or sublease.
"Landlord", "Tenant", and "Agent" include male and female, singular and plural,
corporation, partnership or individual, as may fit the particular parties.

NOTICES
34.   All notices required or permitted under this Lease shall be in writing and
shall be personally delivered or sent by U.S. certified mail, return receipt
requested, postage prepaid. Notices to Tenant shall be delivered or sent to the
address shown at the beginning of this Lease, except that upon Tenant taking
possession of the Premises, then the Premises shall be Tenant's address for such
purposes. Notices to Landlord shall be delivered or sent to the address shown at
the beginning of this Lease and notices to Agent, if any, shall be delivered or
sent to the address set forth in Paragraph 3 hereof.

                                       10
<PAGE>

ALL NOTICES SHALL BE EFFECTIVE UPON DELIVERY. ANY PARTY MAY CHANGE ITS NOTICE
ADDRESS UPON WRITTEN NOTICE TO THE OTHER PARTIES, GIVEN AS PROVIDED HEREIN.

ENTIRE AGREEMENT
35.   This Lease contains the entire agreement of the parties hereto, and no
representations, inducements, promises or agreements, oral or otherwise, between
the parties, not embodied herein shall be of any force or effect. This Lease may
not be modified except by a writing signed by all the parties hereto.

AUTHORIZED LEASE EXECUTION
36.   Each individual executing this Lease as director, officer, partner, member
or agent of a corporation, limited liability company, or partnership represents
and warrants that he is duly authorized to execute and deliver this Lease on
behalf of such corporation, limited liability company, or partnership.

TRANSFER OF LANDLORD'S INTEREST
37.   In the event of the sale, assignment or transfer by Landlord of its
interest in the Premises or in this Lease (other than a collateral assignment to
secure a debt of Landlord) to a successor in interest who expressly assumes the
obligations of Landlord under this Lease, Landlord shall thereupon be released
and discharged from all its covenants and obligations under this Lease, except
those obligations that have accrued prior to such sale, assignment or transfer;
and Tenant agrees to look solely to the successor in interest of Landlord for
the performance of those covenants accruing after such sale, assignment or
transfer. Landlord's assignment of this Lease, or of any or all of its rights in
this Lease, shall not affect Tenant's obligations hereunder, and Tenant shall
attorn and look to the assignee as Landlord, provided Tenant has first received
written notice of the assignment of Landlord's interest.

SPECIAL STIPULATIONS
38.   Any special stipulations are set forth in the attached Exhibit __________.
In so far as said Special Stipulations conflict with any of the foregoing
provisions, said Special Stipulations shall control.

MEMORANDUM OF LEASE
39.   Upon receipt by either Landlord or Tenant, the parties hereto shall
execute a short form lease (Memorandum of Lease) in recordable form, setting
forth such provisions hereof (other than the amount of Base Monthly Rent and
other sums due) as either party may wish to incorporate. The cost of recording
such memorandum of lease shall be borne by the party requesting execution of
same.

THIS DOCUMENT IS A LEGAL DOCUMENT. EXECUTION OF THIS DOCUMENT HAS LEGAL
CONSEQUENCES THAT COULD BE ENFORCEABLE IN A COURT OF LAW. THE NORTH CAROLINE
ASSOCIATION OF REALTORS(R) MAKES NO REPRESENTATIONS CONCERNING THE LEGAL
SUFFICIENCY, LEGAL EFFECT OR TAX CONSEQUENCES OF THIS DOCUMENT OR THE
TRANSACTION TO WHICH IT RELATES AND RECOMMENDS THAT YOU CONSULT YOUR ATTORNEY.

                                       11
<PAGE>

IN WITNESS WHEREOF, THE PARTIES HERETO HAVE HEREUNTO SET THEIR HANDS AND SEALS,
THE DATE AND YEARS FIRST ABOVE WRITTEN.

LANDLORD:

Individual                                 Business Entity

----------------------------- (SEAL)       King Investment Partners
                                           (NAME OF FIRM)

----------------------------- (SEAL)       By: /s/
                                               --------------------------------
                                               Diane B. Lackey

                                           Title: General Partner
                                                  -----------------------------

TENANT

Individual                                 Business Entity

----------------------------- (SEAL)       Carolina Medical, Inc.
                                           ------------------------------------
                                           *         (NAME OF FIRM)

----------------------------- (SEAL)       By: /s/
                                               --------------------------------
                                               Carroll Turner

                                           Title: President
                                                  -----------------------------

* subject to ratification by the Board of Directors on Fri. May 2, 2003.

                                       12

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