NEXIA HOLDINGS INC
EXHIBIT 10
<DOCUMENT>
<TYPE>EX-10
<SEQUENCE>2
<FILENAME>ex10.htm
<DESCRIPTION>EXHIBIT 10
<TEXT>
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      <div>&#160;</div>
      <div style="MARGIN: 0in 0in 0pt; mso-pagination: widow-orphan"><font style="DISPLAY: inline; FONT-WEIGHT: bold">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
        Exhibit 10</font></div>
      <div>&#160;</div>
      <div style="MARGIN: 0in 0in 0pt; mso-pagination: widow-orphan">&#160;</div>
      <div>&#160;</div>
      <div style="MARGIN: 0in 0in 0pt"><font style="DISPLAY: inline; FONT-WEIGHT: bold">STOCK
        PURCHASE AGREEMENT</font></div>
      <div>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
</div>
      <div style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: justify">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
This Stock Purchase
        Agreement ("Agreement") is entered into this <font style="DISPLAY: inline; TEXT-DECORATION: underline">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</font>&#160;day
        of December 2007 (&#8220;Effective Date&#8221;) by and between Nexia Holdings, Inc.
        ("Buyer"), a Corporation and the Issuer of the subject shares, and Richard
        Surber ("Surber"), an individual resident of the State of Utah and the
        President, Director and CEO of the Buyer with a mailing address of 59 West
        100
        South, Second Floor, Salt Lake City, Utah 84101.</div>
      <div>&#160;</div>
      <div style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: justify">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
<font style="DISPLAY: inline; FONT-WEIGHT: bold">WHEREAS</font>,
        Buyer desires
        to acquire from Surber One Hundred Fourteen Thousand Two Hundred Twenty
        (114,220) shares of the common stock of Nexia Holdings, Inc. and all shares
        represented by certificate #2852-2, dated 2/17/04 in the original face amount
        of
        10,000,000 shares, certificate #2372-1, dated 1/6/03 in the original face
        amount
        of 75,824,996 shares and certificate #2007-3, dated 11/30/2000 in the original
        face amount of 5,908,049 shares, the total number of shares are herein after
        referred to as the &#8220;Nexia Shares&#8221; in exchange for a cash payment in the sum of
        One dollar ($1.00)</div>
      <div>&#160;</div>
      <div style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: justify">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
<font style="DISPLAY: inline; FONT-WEIGHT: bold">NOW,
        THEREFORE</font> with the
        above being incorporated into and made a part hereof for the mutual
        consideration set out herein and, the receipt and sufficiency of which is
        hereby
        acknowledged, the parties agree as follows:</div>
      <div>&#160;</div>
      <div>&#160;</div>
      <div style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: justify">1.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
<font style="DISPLAY: inline; TEXT-DECORATION: underline">Exchange</font>.&#160;
        Surber will transfer the Nexia Shares to Buyer and or Buyer&#8217;s transfer agent for
        cancellation and Buyer will pay the sum of One dollar ($1.00) to Surber on
        or
        before December 31, 2007;</div>
      <div>&#160;</div>
      <div style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: justify">2.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
<font style="DISPLAY: inline; TEXT-DECORATION: underline">Termination.</font>&#160;
        This Agreement may be terminated at any time prior to the Closing Date:</div>
      <div>&#160;</div>
      <div style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: justify">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
A.&#160;&#160;&#160;&#160;&#160;&#160;&#160; <font style="DISPLAY: inline; TEXT-DECORATION: underline">By
        Buyer or
        Surber:</font></div>
      <div>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </div>
      <div style="MARGIN: 0in 0in 0pt 1in; TEXT-ALIGN: justify">(1)&#160;&#160;&#160;&#160;&#160;&#160;&#160;
If there shall be
        any actual or threatened action or proceeding by or before any
        court or any other governmental body which shall seek to restrain, prohibit,
        or
        invalidate the transactions contemplated by this Agreement and which, in
        the
        judgment of Nexia&#8217;s Board of Directors or Surber and made in good faith and
        based upon the advice of legal counsel, makes it inadvisable to proceed with
        the
        transactions contemplated by this Agreement; or</div>
      <div>&#160;</div>
      <div style="MARGIN: 0in 0in 0pt 1in; TEXT-INDENT: -1in; TEXT-ALIGN: justify; tab-stops: .5in 1.0in">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
        (2)&#160;&#160;&#160;&#160;&#160;&#160;&#160; If the Closing shall have not
        occurred prior to December 31, 2007, or such later date as shall have been
        approved by parties hereto, other than for reasons set forth herein.</div>
      <div>&#160;</div>
      <div style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: justify">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
B.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <font style="DISPLAY: inline; TEXT-DECORATION: underline">By
        Buyer</font>:</div>
      <div>&#160;</div>
      <div style="MARGIN: 0in 0in 0pt 1in; TEXT-INDENT: -1in; TEXT-ALIGN: justify; tab-stops: .5in 1.0in">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
        (1)&#160;&#160;&#160;&#160;&#160;&#160;&#160; If Surber shall fail to comply in
        any material respect with any of his covenants or agreements contained in
        this
        Agreement or if any of the representation or warranties of Surber contained
        herein shall be inaccurate in any material respect; or</div>
      <div>&#160;</div>
      <div style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: justify">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
C.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <font style="DISPLAY: inline; TEXT-DECORATION: underline">By
        Surber</font>:</div>
      <div>&#160;</div>
      <div style="MARGIN: 0in 0in 0pt 1in; TEXT-INDENT: -1in; TEXT-ALIGN: justify; tab-stops: .5in 1.0in">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
        (1)&#160;&#160;&#160;&#160;&#160;&#160;&#160; If Buyer shall fail to comply in
        any material respect with any of its covenants or agreements contained in
        this
        Agreement or if any of the representation or warranties of Buyer contained
        herein shall be inaccurate in any material respect;</div>
      <div>&#160;</div>
      <div style="MARGIN: 0in 0in 0pt 0.5in; TEXT-ALIGN: justify">In the event this
        Agreement is terminated pursuant to this Paragraph, this Agreement shall
        be of
        no further force or effect, no obligation, right, or liability shall arise
        hereunder, and each party shall bear its own costs as well as the legal,
        accounting, printing, and other costs incurred in connection with negotiation,
        preparation and execution of the Agreement and the transactions herein
        contemplated.</div>
      <div>&#160;</div>
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      </div>
      <div style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: justify">&#160;</div>
      <div>&#160;</div>
      <div style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: justify">3.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
<font style="DISPLAY: inline; TEXT-DECORATION: underline">Representations
        and
        Warranties of Surber</font>.&#160; Surber hereby represents and warrants that
        effective this date and the Closing Date, the representations and warranties
        listed below are true and correct:</div>
      <div>&#160;</div>
      <div>&#160;</div>
      <div style="MARGIN: 0in 0in 0pt 1in; TEXT-INDENT: -1in; TEXT-ALIGN: justify; tab-stops: .5in 1.0in">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
        A.&#160;&#160;&#160;&#160;&#160;&#160;&#160; <font style="DISPLAY: inline; TEXT-DECORATION: underline">Legal
        Authority</font>.&#160; Surber has the full legal power and authority to enter
        into this Agreement and to carry out the transactions contemplated by this
        Agreement. .</div>
      <div>&#160;</div>
      <div style="MARGIN: 0in 0in 0pt 1in; TEXT-INDENT: -1in; TEXT-ALIGN: justify; tab-stops: .5in 1.0in">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
        B.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <font style="DISPLAY: inline; TEXT-DECORATION: underline">No Conflict With
        Other
        Instruments</font>.&#160; The execution of this Agreement will not violate or
        breach any document, instrument, agreement, contract, or commitment material
        to
        the business of Surber to which Surber is a party and has been duly authorized
        by all appropriated and necessary action and shall not consist of a conflict
        of
        interest with his positions and duties with the Buyer.</div>
      <div>&#160;</div>
      <div style="MARGIN: 0in 0in 0pt 1in; TEXT-INDENT: -1in; TEXT-ALIGN: justify; tab-stops: .5in 1.0in">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
        C.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <font style="DISPLAY: inline; TEXT-DECORATION: underline">Deliverance of
        Shares</font>.&#160; As of the Closing Date, the Nexia Shares to be delivered to
        Buyer will be restricted and constitute valid and legally issued shares of
        Nexia, fully paid and non-assessable and equivalent in all respects to all
        other
        issued and outstanding shares of Nexia common stock.</div>
      <div>&#160;</div>
      <div style="MARGIN: 0in 0in 0pt 1in; TEXT-INDENT: -1in; TEXT-ALIGN: justify; tab-stops: .5in 1.0in">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
        D.&#160;&#160;&#160;&#160;&#160;&#160;&#160; <font style="DISPLAY: inline; TEXT-DECORATION: underline">No Conflict with
        Other
        Instrument</font>.&#160; The execution of this agreement will not violate or
        breach any document, instrument, agreement, contract or commitment material
        to
        Surber.</div>
      <div>&#160;</div>
      <div style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: justify">4.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
<font style="DISPLAY: inline; TEXT-DECORATION: underline">Representations
        and
        Warranties of Buyer</font>.&#160; Buyer hereby represents and warrants that,
        effective this date and the Closing Date, the representations and warranties
        listed below are true and correct.</div>
      <div>&#160;</div>
      <div style="MARGIN: 0in 0in 0pt 1in; TEXT-INDENT: -1in; TEXT-ALIGN: justify; tab-stops: .5in 1.0in">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
        A.&#160;&#160;&#160;&#160;&#160;&#160;&#160; <font style="DISPLAY: inline; TEXT-DECORATION: underline">Legal
        Authority</font>.&#160; Buyer has the full legal power and authority to enter
        into this Agreement and to carry out the transactions contemplated by this
        Agreement.</div>
      <div>&#160;</div>
      <div style="MARGIN: 0in 0in 0pt 1in; TEXT-INDENT: -1in; TEXT-ALIGN: justify; tab-stops: .5in 1.0in">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
        B.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <font style="DISPLAY: inline; TEXT-DECORATION: underline">No Conflict With
        Other
        Instruments</font>.&#160; The execution of this Agreement will not violate or
        breach any document, instrument, agreement, contract, or commitment material
        to
        the business of Buyer to which Buyer is a party and has been duly authorized
        by
        all appropriated and necessary action.</div>
      <div>&#160;</div>
      <div style="MARGIN: 0in 0in 0pt 1in; TEXT-INDENT: -1in; TEXT-ALIGN: justify; tab-stops: .5in 1.0in">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
        C.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <font style="DISPLAY: inline; TEXT-DECORATION: underline">Deliverance of
        Shares</font>.&#160; As of the Closing Date, the cash proceeds to Surber will be
        delivered to him.</div>
      <div>&#160;</div>
      <div style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: justify">C.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
&#160;&#160;&#160;&#160;&#160; D.&#160; <font style="DISPLAY: inline; TEXT-DECORATION: underline">No
        Conflict with Other
        Instrument</font>.&#160; The execution of this agreement will not violate or
        breach any document, instrument, agreement, and contract or commitment material
        to Buyer.</div>
      <div>&#160;&#160;&#160;&#160;&#160;&#160;&#160; </div>
      <div>&#160;</div>
      <div style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: justify">5.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
<font style="DISPLAY: inline; TEXT-DECORATION: underline">Closing</font>.&#160;
        The Closing as herein referred to shall occur upon such date as the parties
        hereto may mutually agree upon, but is expected to be on or before December
        31,
        2007.</div>
      <div>&#160;</div>
      <div style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: justify">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
At closing Surber will
        deliver the Nexia Shares to Buyer and Buyer will deliver
        to Surber $1.00. </div>
      <div>&#160;</div>
      <div style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: justify">6.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
<font style="DISPLAY: inline; TEXT-DECORATION: underline">Conditions
        Precedent
        of Surber to Effect Closing</font>.&#160; All obligations of Surber under this
        Agreement are subject to fulfillment prior to or as of the Closing Date,
        of each
        of the following conditions:</div>
      <div>&#160;</div>
    </div>
    <div style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: justify">&#160;</div>
    <div style="MARGIN: 0in 0in 0pt 1in; TEXT-INDENT: -0.5in; TEXT-ALIGN: justify">A.&#160;&#160;&#160;&#160;&#160;&#160;&#160;
      The representations and warranties by or on behalf of Buyer contained in this
      Agreement or in any certificate or documents delivered to Surber pursuant to
      the
      provisions hereof shall be true in all material respects at end as of the time
      of Closing as though such representations and warranties were made at and as
      of
      such time.</div>
    <div>&#160;</div>
    <div style="MARGIN: 0in 0in 0pt 0.75in; TEXT-INDENT: -0.25in; TEXT-AUTOSPACE: ideograph-numeric; TEXT-ALIGN: justify; mso-pagination: widow-orphan; tab-stops: list .75in; mso-list: l0 level1 lfo2; mso-layout-grid-align: auto">B.&#160;&#160;&#160;&#160;
      &#160;&#160;&#160;&#160;&#160; Buyer shall have performed and complied with all
      covenants, agreements and &#160;&#160;&#160;&#160;&#160; conditions required by
      this Agreement to be performed or complied with by
&#160;&#160;&#160;&#160;&#160; Buyer prior to or at the Closing.</div>
    <div>&#160;</div>
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    <div style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: justify">&#160;</div>
    <div>&#160;</div>
    <div style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: justify">7.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
<font style="DISPLAY: inline; TEXT-DECORATION: underline">Conditions
      Precedent
      of Buyer to Effect Closing</font>.&#160; All obligations of Buyer under this
      Agreement are subject to fulfillment prior to or as of the date of Closing,
      of
      each of the following conditions:</div>
    <div>&#160;</div>
    <div style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: justify">&#160;</div>
    <div>&#160;</div>
    <div style="MARGIN: 0in 0in 0pt 1in; TEXT-INDENT: -0.5in; TEXT-ALIGN: justify">A.&#160;&#160;&#160;&#160;&#160;&#160;&#160;
      The representations and warranties by or on behalf of Surber contained in this
      Agreement or in any certificate or documents delivered to Buyer pursuant to
      the
      provisions hereof shall be true in all material respects at end as of the time
      of Closing as though such representations and warranties were made at and as
      of
      such time.</div>
    <div>&#160;</div>
    <div style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: justify">&#160;</div>
    <div>&#160;</div>
    <div style="MARGIN: 0in 0in 0pt 1in; TEXT-INDENT: -0.5in; TEXT-ALIGN: justify">B.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
      Surber shall have performed and complied with all covenants, agreements and
      conditions required by this Agreement to be performed or complied with by him
      prior to or at the Closing.</div>
    <div>&#160;</div>
    <div style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: justify">&#160;</div>
    <div>&#160;</div>
    <div style="MARGIN: 0in 0in 0pt 1in; TEXT-INDENT: -0.5in; TEXT-ALIGN: justify">C.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
      All instruments and documents delivered to Buyer pursuant to the provisions
      hereof shall be reasonably satisfactory to Buyer&#8217;s legal counsel.</div>
    <div>&#160;</div>
    <div style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: justify">&#160;</div>
    <div>&#160;</div>
    <div style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: justify">8.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
<font style="DISPLAY: inline; TEXT-DECORATION: underline">Damages
      and Limit of
      Liability</font>.&#160; Each party shall be liable, for any material breach of
      the representations, warranties, and covenants contained herein which results
      in
      a failure to perform any obligation under this Agreement, only to the extent
      of
      the expenses incurred in connection with such breach or failure to perform
      Agreement.</div>
    <div>&#160;</div>
    <div style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: justify">&#160;</div>
    <div>&#160;</div>
    <div style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: justify">9.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
<font style="DISPLAY: inline; TEXT-DECORATION: underline">Nature
      and Survival of
      Representations and Warranties</font>.&#160; All representations, warranties and
      covenants made by any party in this Agreement shall survive the Closing
      hereunder.&#160; All of the parties hereto are executing and carrying out the
      provisions of this Agreement in reliance solely on the representations,
      warranties and covenants and agreements contained in this Agreement or at the
      Closing of the transactions herein provided for and not upon any investigation
      upon which it might have made or any representations, warranty, agreement,
      promise, or information, written or oral, made by the other party or any other
      person other than as specifically set forth herein.</div>
    <div>&#160;</div>
    <div style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: justify">&#160;</div>
    <div>&#160;</div>
    <div style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: justify">10.&#160;&#160;&#160;&#160;&#160;&#160;&#160;
<font style="DISPLAY: inline; TEXT-DECORATION: underline">Default
      at
      Closing</font>.</div>
    <div>&#160;</div>
    <div style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: justify">&#160;</div>
    <div>&#160;</div>
    <div style="MARGIN: 0in 0in 0pt 1in; TEXT-INDENT: -1in; TEXT-ALIGN: justify; tab-stops: .5in list .75in left 1.0in; mso-list: l1 level1 lfo1">D.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
      &#160;&#160;&#160;&#160;&#160; A.&#160; <font style="DISPLAY: inline; TEXT-DECORATION: underline">By Surber:</font></div>
    <div>&#160;</div>
    <div style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: justify">&#160;</div>
    <div>&#160;</div>
    <div style="MARGIN: 0in 0in 0pt 1.5in; TEXT-INDENT: -1.5in; TEXT-ALIGN: justify; tab-stops: .5in 1.0in 1.5in">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
      (1)&#160;&#160;&#160;&#160;&#160;&#160;&#160; Notwithstanding the provisions
      hereof, if Surber shall fail or refuse to deliver any of the Nexia Shares,
      or
      shall fail or refuse to consummate the transaction described in this Agreement
      prior to the Closing Date, such failure or refusal shall constitute a default
      by
      Surber and Buyer at its option and without prejudice to its rights against
      such
      defaulting party, may either (a) invoke any equitable remedies to enforce
      performance hereunder including, without limitation, an action or suit for
      specific performance, or (b) terminate all of its obligations hereunder with
      respect to Surber.</div>
    <div>&#160;</div>
    <div style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: justify">&#160;</div>
    <div>&#160;</div>
    <div style="MARGIN: 0in 0in 0pt 1in; TEXT-INDENT: -1in; TEXT-ALIGN: justify; tab-stops: .5in list .75in left 1.0in; mso-list: l1 level1 lfo1">E.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
      &#160;&#160;&#160;&#160;&#160; B.&#160;&#160; <font style="DISPLAY: inline; TEXT-DECORATION: underline">By Buyer:</font></div>
    <div>&#160;</div>
    <div style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: justify">&#160;</div>
    <div>&#160;</div>
    <div style="MARGIN: 0in 0in 0pt 1.5in; TEXT-INDENT: -1.5in; TEXT-ALIGN: justify; tab-stops: .5in 1.0in 1.5in">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
      (1)&#160;&#160;&#160;&#160;&#160;&#160;&#160; Notwithstanding the provisions
      hereof, if Buyer shall fail or refuse to deliver any of the $1.00, or shall
      fail
      or refuse to consummate the transaction described in this Agreement prior to
      the
      Closing Date, such failure or refusal shall constitute a default by Buyer and
      Surber at his option and without prejudice to his rights against such defaulting
      party, may either (a) invoke any equitable remedies to enforce performance
      hereunder including, without limitation, an action or suit for specific
      performance, or (b) terminate all of its obligations hereunder with respect
      to
      Buyer.</div>
    <div>&#160;</div>
    <div style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: justify">&#160;</div>
    <div>&#160;</div>
    <div style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: justify">12.&#160;&#160;&#160;&#160;&#160;&#160;&#160;
<font style="DISPLAY: inline; TEXT-DECORATION: underline">Costs
      and
      Expenses</font>.&#160; Buyer and Surber shall bear their own costs and expenses
      in the proposed exchange and transfer described in this Agreement.&#160; Buyer
      and Surber have been represented by their own attorney in this transaction,
      and
      shall pay the fees of its attorney, except as may be expressly set forth herein
      to the contrary.</div>
    <div>&#160;</div>
    <div style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: justify">&#160;</div>
    <div>&#160;</div>
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      <div id="HDR">13.&#160;&#160;&#160;&#160;&#160;&#160;&#160; <font style="DISPLAY: inline; TEXT-DECORATION: underline">Notices</font>.&#160;
Any
        notice under this Agreement shall be deemed to have been sufficiently given
        if
        sent by registered or certified mail, postage prepaid, addressed as
        follows:</div>
    </div>
    <div style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: justify">&#160;</div>
    <div>&#160;</div>
    <div style="MARGIN: 0in 0in 0pt 4.5in; TEXT-INDENT: -4.5in; TEXT-ALIGN: justify; tab-stops: .5in 1.0in 1.5in 2.0in 2.5in 3.0in 3.5in 4.0in 4.5in">&#160;&#160;&#160;
      To Surber:&#160;&#160;&#160;&#160; Richard
      Surber&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
To Buyer:&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Nexia Holdings Inc.,
</div>
    <div>&#160;</div>
    <div style="MARGIN: 0in 0in 0pt 4.5in; TEXT-INDENT: -4.5in; TEXT-ALIGN: justify; tab-stops: .5in 1.0in 1.5in 2.0in 2.5in 3.0in 3.5in 4.0in 4.5in">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
      59 West 100
      South&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
&#160;&#160;&#160;&#160;&#160;&#160;&#160; &#160;&#160;&#160; 59 West 100
      South</div>
    <div>&#160;</div>
    <div style="MARGIN: 0in 0in 0pt 4.5in; TEXT-INDENT: -4.5in; TEXT-ALIGN: justify; tab-stops: .5in 1.0in 1.5in 2.0in 2.5in 3.0in 3.5in 4.0in 4.5in">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
      &lt;?xml:namespace prefix = st1 ns =
      "urn:schemas-microsoft-com:office:smarttags" /&gt;Salt Lake City,
      UT84101&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
&#160;&#160;&#160;&#160;&#160;&#160;&#160; &#160;&#160;&#160; Salt Lake City,
      UT84101</div>
    <div>&#160;</div>
    <div style="MARGIN: 0in 0in 0pt 4.5in; TEXT-INDENT: -4.5in; TEXT-ALIGN: justify; tab-stops: .5in 1.0in 1.5in 2.0in 2.5in 3.0in 3.5in 4.0in 4.5in">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
      Telephone: (801)
      575-8073&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
&#160;&#160; &#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Telephone: (801)
      575-8073 </div>
    <div>&#160;</div>
    <div style="MARGIN: 0in 0in 0pt 4.5in; TEXT-INDENT: -4.5in; TEXT-ALIGN: justify; tab-stops: .5in 1.0in 1.5in 2.0in 2.5in 3.0in 3.5in 4.0in 4.5in">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
      Telefax: (801) &#160;
575-8092&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
&#160;&#160; &#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Telefax: (801)
      575-8092</div>
    <div>&#160;</div>
    <div style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: justify">&#160;</div>
    <div>&#160;</div>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
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    </div>
    <div style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: justify">&#160;</div>
    <div>&#160;</div>
    <div style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: justify">14.&#160;&#160;&#160;&#160;&#160;&#160;&#160;
<font style="DISPLAY: inline; TEXT-DECORATION: underline">Miscellaneous</font>.</div>
    <div>&#160;</div>
    <div style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: justify">&#160;</div>
    <div>&#160;</div>
    <div style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: justify">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
A.&#160;&#160;&#160;&#160;&#160;&#160;&#160; <font style="DISPLAY: inline; TEXT-DECORATION: underline">Further
      Assurances</font>.&#160; At any time and from time to time, after the effective
      date, each party will execute such additional instruments and take such as
      may
      be reasonably requested by the other party to confirm or perfect title to any
      property transferred hereunder or otherwise to carry out the intent and purposes
      of this Agreement.</div>
    <div>&#160;</div>
    <div style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: justify">&#160;</div>
    <div>&#160;</div>
    <div style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: justify">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
B.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <font style="DISPLAY: inline; TEXT-DECORATION: underline">Waiver</font>.&#160;
Any
      failure on the part of any party hereto to comply with any of its obligations,
      agreements, or conditions hereunder may be waived in writing by the party to
      whom such compliance is owed.</div>
    <div>&#160;</div>
    <div style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: justify">&#160;</div>
    <div>&#160;</div>
    <div style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: justify">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
C.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <font style="DISPLAY: inline; TEXT-DECORATION: underline">Headings</font>.&#160;
The
      section and subsection headings in this Agreement are inserted for convenience
      only and shall not affect in any way the meaning or interpretation of this
      Agreement.</div>
    <div>&#160;</div>
    <div style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: justify">&#160;</div>
    <div>&#160;</div>
    <div style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: justify">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
D.&#160;&#160;&#160;&#160;&#160;&#160;&#160; <font style="DISPLAY: inline; TEXT-DECORATION: underline">Counterparts</font>.&#160;
      This Agreement may be executed simultaneously in two or more counterparts,
      each
      of which shall be deemed an original, but all of which together shall constitute
      one and the same instrument.</div>
    <div>&#160;</div>
    <div style="MARGIN: 0in 0.5in 0pt; TEXT-ALIGN: justify">&#160;</div>
    <div>&#160;</div>
    <div style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: justify">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
E.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <font style="DISPLAY: inline; TEXT-DECORATION: underline">Governing
      Law</font>.&#160;
This Agreement was negotiated and is being contracted for in the State
      of Utah,
      and shall be governed by the laws of the State of Utah, notwithstanding any
      conflict-of-law provision to the contrary. </div>
    <div>&#160;</div>
    <div style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: justify">&#160;</div>
    <div>&#160;</div>
    <div style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: justify">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
F.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <font style="DISPLAY: inline; TEXT-DECORATION: underline">Binding
      Effect</font>.&#160;
This Agreement shall be binding upon the parties hereto and inure to
      the benefit
      of the parties their respective heirs, administrators, executors, successors,
      and assigns.</div>
    <div>&#160;</div>
    <div style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: justify">&#160;</div>
    <div>&#160;</div>
    <div style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: justify">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
G.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <font style="DISPLAY: inline; TEXT-DECORATION: underline">Entire
      Agreement</font>.&#160; The Agreement contains the entire agreement between the
      parties hereto and supersedes any and all prior agreements, arrangements or
      understandings between the parties relating to the subject matter hereof.&#160;
No oral understandings, statements, promises or inducements contrary to the
      terms of this Agreement exist.&#160; No representations, warranties covenants,
      or conditions express or implied, other than is set forth here, have been made
      by any party.</div>
    <div>&#160;</div>
    <div style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: justify">&#160;</div>
    <div>&#160;</div>
    <div style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: justify">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
H.&#160;&#160;&#160;&#160;&#160;&#160;&#160; <font style="DISPLAY: inline; TEXT-DECORATION: underline">Severability</font>.&#160;
      If any part of this Agreement is deemed to be unenforceable the balance of
      the
      Agreement shall remain in full force and effect.</div>
    <div>&#160;</div>
    <div style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: justify">&#160;</div>
    <div>&#160;</div>
    <div style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: justify">IN WITNESS WHEREOF, the
      parties have executed this Agreement the day and year first above written.</div>
    <div>&#160;</div>
    <div style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: justify">&#160;</div>
    <div>&#160;</div>
    <div style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: justify">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
</div>
    <div>&#160;</div>
    <div style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: justify">&#160;</div>
    <div>&#160;</div>
    <div style="MARGIN: 0in 0in 0pt 2in; TEXT-INDENT: 0.5in; TEXT-ALIGN: justify">Nexia
      Holdings, Inc. &#8220;Buyer&#8221;</div>
    <div>&#160;</div>
    <div style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: justify">&#160;</div>
    <div>&#160;</div>
    <div style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: justify">&#160;</div>
    <div>&#160;</div>
    <div style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: justify">&#160;</div>
    <div>&#160;</div>
    <div style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: justify">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
By:&#160; <font style="TEXT-DECORATION: underline">/s/
      Gerald Einhorn,
      Vice-President</font></div>
    <div>&#160;</div>
    <div style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: justify">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
</div>
    <div>&#160;</div>
    <div style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: justify">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
</div>
    <div>&#160;</div>
    <div style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: justify">&#160;</div>
    <div>&#160;</div>
    <div style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: justify">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
Richard Surber</div>
    <div>&#160;</div>
    <div style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: justify">&#160;</div>
    <div>&#160;</div>
    <div style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: justify">&#160;</div>
    <div>&#160;</div>
    <div style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: justify">&#160;</div>
    <div>&#160;</div>
    <div style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: justify">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
<font style="TEXT-DECORATION: underline">/s/
      Richard Surbe</font></div>
    <div>&#160;</div>
    <div style="MARGIN: 0in 0in 0pt">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Richard
      Surber</div>
    <div>&#160;</div>
    <div style="MARGIN: 0in 0in 0pt">&#160;</div>
    <div>&#160;</div>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
        <div id="GLFTR" style="WIDTH: 100%" align="left">
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      <div id="PN" style="PAGE-BREAK-AFTER: always">
        <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">4</font></div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: lightgrey" noshade size="2">
        </div>
      </div>
      <div id="HDR">
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        </div>
      </div>
    </div>
    <div style="MARGIN: 0in 0in 0pt">&#160;</div>
    <div>&#160;</div>
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