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EXHIBIT 10.7.2
PAYMENT GUARANTY
This Payment Guaranty (this "GUARANTY") is made as of October 12,
2005,
by CONCORDIA HOMES OF NEVADA, INC., a Nevada corporation,
("GUARANTOR") in favor
of ASI Technology Corporation, (collectively, "LENDER").
R E C I T A L S
A. Guarantor is executing this Guaranty to induce Lender to extend
a
loan (the "LOAN") to Concordia Land, LLC, a Nevada limited
liability company
("BORROWER") in the principal amount of Nine Hundred Eighty-Five
Thousand and
00/100th Dollars ($985,000.00).
B. The Loan is evidenced by a promissory note (the "NOTE") made
payable
to Lender in the principal amount of the Loan. The Note will be
secured by a
Deed of Trust With Assignment of Rents (the "DEED OF TRUST")
covering certain
real and personal property, as therein described (all collectively,
the
"PROPERTY"). The Note may also be secured by other collateral.
GUARANTY
1. GUARANTY OF LOAN. Guarantor unconditionally guaranties to Lender
the
full payment of the Loan, and unconditionally agrees to pay Lender
the full
amount of the Loan. This is a guaranty of payment, not of
collection. If
Borrower defaults in the payment when due of the Loan or any part
of it,
Guarantor shall in lawful money of the United States pay to Lender
or order, on
demand, all sums due and owing on the Loan, including all interest,
charges,
fees and other sums, costs and expenses.
2. LOAN. In this Guaranty, the term "Loan" is broadly defined to
mean
and include all primary, secondary, direct, indirect, fixed and
contingent
obligations of Borrower to pay principal, interest, costs and
expenses which may
be owing at any time under the Note or the other Loan Documents, as
any or all
of them may from time to time be modified, amended, extended or
renewed.
3. RIGHTS OF LENDER. Guarantor authorizes Lender to perform any or
all
of the following acts at any time in its sole discretion, all
without notice to
Guarantor and without affecting Guarantor's obligations under the
Guaranty:
(a) Lender may alter any terms of the Loan or any part of it,
including renewing, compromising, extending or accelerating, or
otherwise
changing the time for payment of, or increasing or decreasing the
rate of
interest on, the Loan or any part of it.
(b) Lender may apply any payments or recoveries from Borrower,
Guarantor or any other source, and any proceeds of any security, to
Borrower's
obligations under the Loan Documents in such manner, order and
priority as
Lender may elect.
(c) Lender ma
