Tracy P. Streber, F.K.A. Tracy C. Parker, et al. - Page 13

                                       - 13 -                                         
          holds an interest in the joint venture as trustee for the                   
          daughters.  It also states that "Bradish and the Parker children            
          now disagree on the interest each holds in the Joint Venture and            
          have attempted to negotiate a compromise settlement to no avail."           
          The arbitration agreement was executed by Bradish, Parker, Betty,           
          Teresa, and Tracy.  The result of the arbitration agreement was a           
          decision set forth in a letter dated February 23, 1981, from                
          Charles L. Laswell, "Arbitrator".  Neither Parker nor Bradish               
          agreed with that decision.  Negotiations continued between                  
          Bradish and Parker and between Parker and Thoner.                           
               By an agreement executed on various dates in March 1981,               
          such agreement entitled "Assignment and Representation and                  
          Warranty Agreement" (the assignment agreement), Thoner, Murray,             
          Parker, Bradish, both for himself and as "Trustee", Teresa and              
          certain others agreed that Thoner, Murray, and one John A. Chaky            
          (Chaky) would purchase Bradish's interest (referred to as the               
          "Bradish Group Interest" (Bradish group interest)) in the joint             
          venture.  The assignment agreement states that Bradish holds his            
          interest partially for his account and partially as a trustee.              
          The assignment agreement recites certain consideration to be                
          received in exchange for the Bradish group interest, including              
          $1,600,000 cash, payable to Parker, and two promissory notes,               
          each in the amount of $2 million, and each payable to                       
          "R. Bradish, Trustee" (the $2 million notes).                               

Page:  Previous  3  4  5  6  7  8  9  10  11  12  13  14  15  16  17  18  19  20  21  22  Next

Last modified: May 25, 2011