Document:

<PAGE> 97

COMMITMENT TO PROVIDE FINANCING AND FINANCE STATEMENT

Wherefore, Euro Federal Bank, N.V. Nieuwe Brugsteeg 11 - 1012 AG
Amsterdam, hereinafter referred to as "First Party" and Affordable
Homes of America, a Public Company (AHOA) Represented By:

____Frank C. Calmes____, Title; Chief Financial Officer, Passport /
Document Number: ____085776841____, hereinafter referred to as "Second
Party"

Wherefore, the First Party has received and accepted a request for
project financing in the amount of Fifteen Million United States Dollars
($15,000,000.) in favor of Second Party herein;

Wherefore, the scope of this Commitment and Finance Statement is to
provide a clear and concise representation of the terms and conditions
under which the parties hereto are bound by operation of law and to
establish the protocol for the implementation of the rights afforded
to the parties hereto.

Wherefore, the First Party/Lender shall Transfer Funds in the Amount
of Fifteen Million ($15,000,000.) United States Dollars to the Project
Borrowers Closing BankAccount as set out in the attached Exhibit entitled
"Borrowers Closing Banking Coordinates" or Deliver Payment Against Bond at
Closing va Certified Bank Check all of which shall be subject to the terms
and conditions of this Commitment and FinanceStatement which are:

<PAGE> 98

INTEREST:
The Interest Rate shall be Fixed at L.I.B.O.R. Plus 2% (London
Interbank Offend Rate), per annum and shall remain fixed throughout
the term of the Loan. Interest Only payments are approved, and will be
applied to the monthly statements sent to the borrower.

PAYMENTS:
The repayment of the Loan shall begin on the 7Th Banking Day of the
month after remission of funds to the Second Party/Borrower herein.
All payments must be remitted in United States Dollars to the Lender
or their Authorized Representative or Assigns.Payments not made within
five (5) days of the due date(s) shall be subject to a late charge of
0.5% of the said payment amount. Principal is to be paid in one payment
at the end of the term via the repurchase of Borrower Stock of Equal
Value to the Principal Loan Amount herein.

EXCHANGE RATE(s):
The rate of exchange between the First Party Lender and the Second Party
Borrower shall in no way affect the payments terms or conditions of this
Finance Agreement, and any negative fluctuations of the rate exchange
rate against the United States Dollar shall be without relevance to this
agreement in any manner whatsoever.

<PAGE> 99

USE OF FUNDS:

The Loan Funds remitted by the First Party Lender to the Second Party
Borower, "The Loan Funds" shall only be used for the specific purpose
of completion of construction, improvements, renovation and/or other-
wise making value added completing elements tothe Projects and
Acquisitions and Company operations of the Borrower in accordance with
submissions by the Second Party herein - and the Second Party shall in
no way whatsoever use any of the Loan Funds for any other purpose or
for personal use outside legitimate operation of the Projects and or
Company Operations, any other allocation of The Loan Funds shall
(without prior approval), constitute 'Default" under this agreement,
and shall immediately invoke the Default Cure Provisions and Rights of
the First Party in the case of Actual "default" herein,

MONITORING APPLICATION OF LOAN PROCEEDS:

<PAGE> 100

The First Party shall have the right and the obligation to access
documents, records, receipts (Accounts Receivable and Accounts Payable)
and any other operational information at the office of the Second Party
within a reasonable time after notification in writing by the First
Party or their assigns for the purpose of verification, accountability
and diligence in the execution and administration of this Loan Transac-
tion and Agreement between First Party/Lender and Second Party/Borrower
herein. In the case of financial problems arising from the operation of
the project, the First Party has the right and the obligation to maintain
an on-site consultant or other professional person to assist in the good
and profitable operation of the project in order to protect the
collateral underlying this transaction. The First Party shall have the
right to insure that the Bonding Company has completed proper due
diligence so as to preclude the possibility of litigation by the Bonding
Company on the grounds of misrepresentation by the Second Party,
Obligor/Borrower before remission of Funding.

COLLATERAL:

The Second Party herein hereby convey through a Security Agreement a
Firs Security Interest in All of the Unencumbered Assets of the Borrower
(In the Case of Financial Guarantee Insurance Bond, or third party
Guarantee the First Security Interest pledged to the Guarantor), including
but not limited to fixtures, equipment, real estate, inventory, contracts,
accounts receivable, lease, sale or rental agreements with tenants, and/or
other valuable consideration existing as a part thereto or associated
therewith to the First Party/Lender herein until the full balance of
principal and interest accrued thereon is repaid to the First Party, or
their assigns and Shares of Capital Stock in & certificate of shares that
represent a value equal to 1:1 Ratio to Loan Value. Such Shares shall be
traaaferred to the Name of the Lender herein for the term of the Loan and
the same shall serve as additional collateral to the Loan, whereby upon
repayment of the same including all interest payments thewwi, the said
shares of node in the Public Company of the Borrower shall be transferred
forthwith to the Borrower herein.

<PAGE> 101

INSURANCE:

The Second Party shall at all times maintain sufficient Insurance to
protect against fire,theft, destruction of property or other casualty
including storm insurance if recommended by their agent, and the Second
Party shall be responsible for the payment and maintenance of all
premiums arising therefrom and shall be obligated to maintain all
policies in good standing and in &11 effect at all times during the
term of this LoanTransaction between the parties hereto.

FINANCIAL GUARANTEE BOND:

The Second Party has contracted an "A+" Rated Insurance Company
anticipated to be "AIG" American Home Assurance Company unit, which
is an American International Group Of Companies Member and which is
acceptable to the First Party herein should the same be approved and
Issued in favor of the First Party herein. The First Party further
understands that the same has been committed to be issued, subject
to complete payment Premium of said Insurance Bond by the borrower
herein which is their responsibility and is according to information
submitted by the issuer refundable, should the Borrower or First Party
Jail to utilize such Insurance Bond. The same shall effectively
provide a counter-guarantee of repayment of the Principal Loan Amount
further secured by a General Agreement of Indemnity.

<PAGE> 102

This Bond, once issued and presented to the Lender herein and signed
by all parties shall be considered collateral enhancement and shall
not diminish the rights of the First Transaction and Agreement
including direct collection rights.

DEFAULT:

Shall constitute any failure to make payment due pursuant to this Loan
or ay creditfacility arising pursuant from this Loan Transaction with
in 120 days of its due date, for breach of any condition of any security
interest, mortgage, loan agreement, pledgeagreement or guarantee granted
as collaterel security for the benefit of the lender(s)and/or surety(s),
breach of any condition of any loan agreement, security agreement
mortgage, if any, having priority over any loan agreement, security
agreement ormortgage on collateral granted, in whole or in part, as
collateral security for this loan transaction, the filing of nay of the
undersigned of an assignment for the enefit ofcreditors, bankruptcy or
other form of insolvency, or by suffering an involuntary petition in
bankruptcy or receivership not vacated within 30 days.

LOAN ACCOUNT NUMBER:

The Account Number Assigned to this Loan is : 07-9953287785-4215

TRANSACTION CODE:

The Transaction Code Assigned to this Loan is; 81423US

<PAGE> 103

SCHEDULED CLOSING DATE:

The Scheduled Closing Date for this Loan Transaction is Friday-July l6
, 199 at 10am EDT, Subject to the Delivery of the Financial Guarantee
Insurance Bond in the Penal Sum Amount of $l5,000,000. The closing shall
be facilitated via Interbank WireTransfer and with hard copy confir-
mation via counter to counter air delivery ofdocuments or international
courier service to the parties within 24 hours after remissionof funds,
which shall be wired directly to the Closing Bank Account, or by
Certified Funds at Closing in the form of Certified Bank Check.

DEFINITIONS:

Definitions are hereby waived by the parties who agree that they have
readandunderstood in totality all of the terms and conditions presented
herein and any confusion with regard to misunderstanding of any phrase
or characterization has already been satisfied. Translation shall be
pursuant common English and any reference to gendershall be considered
neuter. Any qualifications or other modifications have already been made,
and this Loan Agreement shall not be altered, modified or changed in any
waywhatsoever unless previously agreed by the Lender and is made in
writing and attached as an amendment hereto.

OPERATION OF LAW:

The choice of law accepted and applied under this contract shall be
United States Federal Law and when Applicable, International Law
including the covenants established by the I.C.C. 5OO and any revisions
thereof as may be relevant to any litigation arising from thisLoan
Agreement. Additionally, Second Party waives recourse under any provision
ofUnited States or Brazilian Law that would prohibit collection of a Debt
on the grounds ofjurisdiction or Venue, and specifically any regulation
of law which would preclude the enforcement of any judgement, as currently
allowed under the active Treaty(s) ithNetherlands and the United States,
nor shall any transfer of collateral after this Loan hasbeen made to any
third party or encumbrance by any third party be valid or enforceable
without written consent of the First Party/Lender herein.

<PAGE> 104

VENUE:
The Venue in the case of Litigation arising from this Loan Agreement
shall be the UnitedStates District Court, Los Angeles, California USA a
nd, at the option of the First Party/Lender, any other court of
competent jurisdiction to hear such pleadings.

      WHERJEFORE, the undersigned attest tilat they have the unlimited
authority to bind themselves and their coropaoies to the terms and
conditions of this agreement and that the undersigned agree in totality,
to all ofthe terms and conditions set out herein tadthe same have
affixed their hand and sea](9) on their accord Signed and Executed
This __27th__ Day of July, 1999 A.D.

Euro Federal Bank N.V.
By: Gunter Helmut
Title Director of International Finance
First Party/Lender

Affordable Homes of America (AHOA)
By: Frank C. Calmes
Title: Chief Financial Officer
Second Party/Borrower/Obligee<PAGE> 105

September 27, 1999

Mr. Merle Ferguson
President & CEO
Affordable Homes of America
4505 W. Hacienda Avenue, Suite 1
Las Vegas NV, 89118

Dear Merle,

This letter confirms any commitment of A2 Consultants as consultants to
Affordable Homes of America.  Our role will be one of personal consul
ting with you relative to the markets, increase visibility of the company
in the brokerage community and basically do whatever it is you feel is
needed to assist you in making Affordable Homes of America a successful
entity.

Any representatives of Affordable Homes of America from A2 Consultants
will be responsible for all of their own expenses, unless agreed upon
in writing by both parties.

As compensation Affordable Homes of America will distribute over the
course of one year $75,000.00 payable in cash or free trading stock.

If this is agreeable, please sign below to indicate your acceptance.
We look forward to working with you on this project.

Sincerely,

Aldo Dalla-Vecchia

Agreed                                      Agreed

By: /s/ Merle Ferguson              By: /s/ Aldo Dalla-Vecchia
        --------------                      ------------------
        Merle Ferguson                      Aldo Dalla-Vecchia
        President & CEO                     President
        Affordable Homes of America         A2 Consultants

Date:   __09-27-1999__

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