Exhibit No. 4
Form 10-SB
Area Investment and Development Company
SETTLEMENT AGREEMENT
THIS SETTLEMENT AGREEMENT ("Agreement"), effective June 25,
1998, is entered into between Canton Financial Services
Corporation, a Nevada corporation, with principal offices at 000
Xxxx 000 Xxxxx, Xxxxx 000, Xxxx Xxxx Xxxx, Xxxx 00000 ("Canton"),
and Area Investment and Development Company ("AIDCO") and any of
their affiliates or control persons or entities directly or
indirectly controlled by either.
Recitals
WHEREAS, Canton entered into a Consulting Agreement with
AIDCO on January 5, 1996 and such Agreement was terminated on
April 1, 1997.
WHEREAS, As of the date herein, there is currently $86,914
still due and outstanding to Canton pursuant this Agreement.
WHEREAS, AIDCO believes that the amount of this xxxx will
negatively effect AIDCO's ability to attract a potential merger
candidate, hence AIDCO's ability to pay Canton any of the amounts
due and would therefore like a reduction in the amount due.
THEREFORE, Canton has agreed to a reduction in the amount
owed as an incentie for AIDCO to accelerate its payment. The
amount owed will be reduced to $35,000.
IN WITNESS WHEREOF, the signatures of the Parties below
evidence their execution of this Settlement Agreement.
Area Investment and Development Company
/s/ Xxx Xxxxx, President
Canton Financial Services Corporation
/s/ Xxxxxxx Xxxxxx, President
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