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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
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Last modified: May 25, 2011