Barjona S. Meek and Roberta Meek - Page 4

                                        - 4 -                                         


               S. MEEK ("Seller"), a limited partner of ELGRADE, LTD.,                
               a California limited partnership ("Elgrade").                          
                                      RECITALS                                        
                    Seller desires to sell 100% of his limited                        
               partnership interest in Elgrade to Buyer, and Buyer                    
               desires to purchase all of Seller's limited partnership                
               interest in Elgrade.                                                   
                    NOW, THEREFORE, in consideration of the mutual                    
               covenants, and subject to the terms and conditions                     
               herein contained, the parties hereto agree as follows:                 
                              *   *   *   *   *   *   *                               
                    1.2 Purchase Price.                                               
                         Buyer agrees to pay eight hundred thirty-two                 
               thousand three hundred fifty and no/100 dollars                        
               ($832,350.00) for the limited partnership interest sold                
               by Seller. In addition to 832,350.00 selling price,                    
               accounts receivable of 35,958.00.                                      
                    1.3. Payment of Purchase Price.                                   
                         The purchase price specified in section 1.2                  
               shall be paid by Buyer to Seller on the Closing Date by                
               delivery of an executed note for the purchase price in                 
               the form attached hereto as Exhibit A.                                 
                              *   *   *   *   *   *   *                               
                              SELLER                                                  
                                        Barjona S. Meek                               
                              BUYER                                                   
                                        BARJONA S. MEEK AND ROBERTA L. MEEK           
                                        GRANDCHILDREN IRREVOCABLE TRUST               
                                   By:                                                
                                        Thomas McCormick, Trustee                     

                                        Forrest Furman, Trustee                       






Page:  Previous  1  2  3  4  5  6  7  8  9  10  11  12  Next

Last modified: May 25, 2011