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 ▇▇▇
▇▇▇▇ ▇▇▇ ▇▇▇▇▇, ▇▇▇▇▇ ▇▇▇, ▇▇▇▇ ▇▇▇▇ ▇▇▇▇, ▇▇▇▇ ▇▇▇▇▇ ("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 ▇▇▇▇ 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/ ▇▇▇ ▇▇▇▇▇, President
Canton Financial Services Corporation
/s/ ▇▇▇▇▇▇▇ ▇▇▇▇▇▇, President
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