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pertinent part, provided the following:
5. NEW PATENTS AND PATENTS PENDING
Since the original sales agreement was entered
into, Lea has been granted an additional patent as
follows
US Patent 4,261,776 [the 776 patent4]"Method of
making self-inflated air mattresses" issued April
14, 1981.
Lea has also applied for an additional patent
under:
SN 395,750 [the 750 patent application or the
750 technology5] "Method and apparatus for
making air mattresses" filed July 6, 1982.
The additional patent and patent pending are
improvements on the prior patent sold to Cascade by Lea
and are valuable to Cascade in the manufacturing of air
mattresses, pads and related products and methods.
* * * * * * *
7. NEW CONSIDERATION
In consideration for Lea waiving prior breaches of
the original sales agreement by Cascade, of waiving any
claim which Lea may have for interest on unpaid amounts
due,[6] and of Lea granting to Cascade his entire right,
title, and interest in and to the new patent and patent
4The 776 patent was a division of U.S. Patent Application
S.N. 800,288, "Method of Making Self-Inflating Air Mattress".
5No patent was ever granted on the 750 patent application;
the application was rejected by the U.S. Patent and Trademark
Office primarily because of its "obviousness". Cascade used the
750 technology in its manufacturing process and regarded it as a
trade secret.
6At the time Cascade and Lea entered into the 1982
agreement, the interest on the delinquent payments totaled
approximately $39,102.
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