MODIFICATION AND REAFFIRMATION OF GUARANTY AND ENVIRONMENTAL INDEMNITY AGREEMENT

Exhibit 10.7



MODIFICATION AND REAFFIRMATION OF GUARANTY AND ENVIRONMENTAL INDEMNITY AGREEMENT
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     THIS MODIFICATION AND REAFFIRMATION OF GUARANTY AND ENVIRONMENTAL INDEMNITY
AGREEMENT  is  executed as of the 22 day of December, 2006, by MALCOLM J. WRIGHT
having  an  office  at 550 Biltmore Way, Suite 700, Coral Gables, Florida 33134,
and AMERICAN LEISURE HOLDINGS, INC., a Nevada corporation (collectively, jointly
and  severally, the "Guarantor"), in favor of STANFORD INTERNATIONAL BANK, LTD.,
having an office at No. 11, Pavilion Drive, St. Johns, Antigua, West Indies (the
"Lender").

                                WITNESSETH, THAT:
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     WHEREAS,  the  Lender  has  previously  extended  a  $12,300,000.00  loan
(hereinafter  referred  to  as  the "Existing Loan"), to REEDY CREEK ACQUISITION
COMPANY,  LLC,  a  Florida limited liability company (hereinafter referred to as
"Borrower"),  and

     WHEREAS,  the  Existing  Loan is evidenced by a Second Renewal, Amended and
Increased  Promissory  Note  dated  November  22,  2006  in  the  amount  of
$12,300,000.00 and secured by: (i) that certain Mortgage and Security Agreement,
recorded  in  Official Records Book 2855, at Page 1243 (the "Mortgage"); (ii) an
Assignment of Leases, Rents and Profits, recorded in Official Records Book 2855,
Page  1280 (the "Assignment"); and (iii) a UCC-1 Financing Statement recorded in
Official  Records  Book  2855, Page 1291 (the "Financing Statement"); all of the
foregoing  modified  by  that certain Mortgage Modification Agreement and Future
Advance  Certificate  recorded  in Official Records Book 3034, at Page 2915, and
that  Second  Mortgage  Modification  Agreement  and  Future Advance Certificate
recorded  in  Official  Records  Book  3345,  at Page 2054, all of the foregoing
instruments  being  filed amongst the Public Records of Osceola County, Florida;
and (iv) other loan documents executed in connection with the Existing Loan (the
"Existing  Loan  Documents");  and

     WHEREAS,  the  Guarantor  has  previously guaranteed the prompt payment and
performance  of  the Existing Loan, pursuant to the terms that certain Unlimited
Continuing  and  Unconditional  Guaranty executed by the Guarantor dated July 8,
2005  and  as  modified  and  reaffirmed  by  that  certain  Modification  and
Reaffirmation  of  Guaranty  and Environmental Indemnity Agreement dated the 5th
day  of  January,  2006  and that that certain Modification and Reaffirmation of
Guaranty  and  Environmental  Indemnity  Agreement  dated  November  22,  2006
(collectively,  the  "Guaranty"),  and

     WHEREAS,  the  Guarantor has previously agreed to indemnify and hold Lender
harmless  from  any  environmental damage, pursuant to the terms of that certain
Environmental  Indemnity  Agreement  dated  July  8,  2005  and  as modified and
reaffirmed  by  that  certain  Modification  and  Reaffirmation  of Guaranty and
Environmental  Indemnity  Agreement dated the 5th day of January, 2006, and that
certain  Modification  and Reaffirmation of Guaranty and Environmental Indemnity
Agreement  dated the November 22, 2006 (collectively, the "Indemnity Agreement")
in  connection  with  the  Existing  Loan,  and

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     WHEREAS,  the Borrower has requested the Lender to modify the Existing Loan
by  granting an $1,120,000.00 future advance so as to increase the Existing Loan
to  $13,420,000.00  (the  "New  Loan"),  and  as  a  condition  precedent to the
modification  of  the  Existing  Loan,  the Lender has required the Guarantor to
modify  and  reaffirm  the  terms  of  the  Guarantor's  Guaranty  and Indemnity
Agreement  with  regard  to  the  New  Loan,  and

     WHEREAS,  under  the