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1. Forty-five percent (45%) of any and all proceeds
derived from the sale of Plaintiff's shares of stock in
Defendant Maintenance Unlimited, Inc., as well as
forty-five percent (45%) of all proceeds derived from
the sale of Plaintiff's interest in [the two car
washes] * * *.
* * * * * * *
IT IS FURTHER ORDERED, ADJUDGED AND DECREED that
Defendant Linda D. Friscone is hereby awarded, as division
of property, the following assets:
1. Fifty-five percent (55%) of any and all proceeds
derived from the sale of Plaintiff's shares of stock in
Defendant Maintenance Unlimited, Inc., also a Defendant
herein, as well as fifty-five percent (55%) of all
proceeds derived from the sale of Plaintiff's interest
in [the car washes] * * *.
* * * * * * *
IT IS FURTHER ORDERED, ADJUDGED AND DECREED that
Plaintiff shall immediately notify Defendant Maintenance
Unlimited, Inc. of Plaintiff's intention to invoke the terms
of the Buy-Sell Agreement.
On March 30, 1990, petitioner and MUI (through Joseph)
finally entered into an agreement in which petitioner agreed to
sell and MUI agreed to purchase (redeem) the 150 shares of MUI
stock owned by petitioner, leaving Joseph as the 100-percent
owner of MUI. In exchange for the 150 shares of stock, MUI
agreed to give petitioner the following consideration: $23,000
in cash; a long-term note in the amount of $143,039.25; and the
cancellation of petitioner's outstanding debt to MUI in the
amount of $31,200. The long-term note received by petitioner,
dated April 3, 1990, was for a term of 180 months and carried an
interest rate of 10 percent.
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