Purchase and Sale Agreement between Haber, Inc. and Gregg Bozenbury for 2455 NW 16th Boulevard, Okeechobee, FL

Summary

Haber, Inc. agrees to buy, and Gregg Bozenbury agrees to sell, the property at 2455 NW 16th Boulevard, Okeechobee, Florida, including certain personal property, for $725,000. The agreement outlines payment terms, including a non-refundable deposit, possible third-party financing, and closing procedures. The seller must provide clear title and possession at closing, and both parties have specific obligations regarding title insurance, surveys, and closing costs. The contract includes provisions for handling title defects and allows for cancellation if financing cannot be obtained within a set period.

EX-10.H 9 ex10h.txt ps bozenbury.txt Exhibit 10.H 1 PURCHASE AND SALE: Haber, Inc. ("Buyer") ------------------------- 2 agrees to buy and Gregg Bozenbury ("Seller") -------------------------- 3 agrees to sell the property described as: Street Address: 2455 NW 16th Boulevard 4 Okeechobee, FL 34974 5 Legal Description: Okeechobee County Industrial Authority Park Lot 9 6 7 and the following Personal Property: 8 9 (all collectively referred to as the "Property") on the terms and condition set forth below. The "Effective Date" of this contract is 10 the date on which the last of the Parties signs the latest offer. Time is of the essence in this contract. Time period of 5 days or less will 11 be computed without including of Saturday, Sunday,or national legal holidays and any time period ending on a Saturday, Sunday or national 12 legal holiday will he extended until 5:00 p.m. of the next business day. 13 2. PURCHASE PRICE: $ 725,000.00 14 (a) Deposit held in escrow by Cassels and McCall- NON-REFUNDABLE $ 20,000.00 ----------------- 15 (b) Additional deposit to be made within ______days from Effective Date ----------------- 16 (c) Total mortgages (as referenced in Paragraph 3) ----------------- 17 (d) other: PMM, See Addenda $ 625,000.00 ----------------- 18 (e) Balance to close, subject to adjustments and $ 80,000.00 prorations, to be made with cash, locally drawn ----------------- 19 certified or cashier's check or wire transfer. 20 3. THIRD PARTY FINANCING: Within____ days from Effective Date ("Application Period"), Buyer will, at Buyer's expense, apply for 21 third party financing in the amount of $___________or__________% of the purchase price to be amortized over a period or____________ 22 years and due in no less than_______years and with a fixed interest rate not to exceed [_] ___________% per year or variable PAGE-1 ps bozenbury.txt 23 interest rate not to exceed [_] _______% at origination with a lifetime cap not to exceed_______%from initial rate, with additional terms as follows: 24 25 Buyer will pay for the mortgagee title insurance policy and for all loan expenses. Buyer will timely provide any and all credit. 26 employment, financial and other information reasonably required by any lender. Buyer will notify Seller immediately upon obtaining 27 financing or being rejected by a lender if Buyer, after diligent effort, fails to obtain a written commitment within____days from 28 Effective Date ("Financing Period"), Buyer may cancel the contract by giving prompt notice to Seller and Buyer's deposit(s) will be 29 returned to Buyer in accordance with Paragraph 9. 30 Buyer (ABC)(___) and Seller (GB)(GB) acknowledge receipt of a copy of this page, which is 1 of 5pages. 8/11/05 cc-2 (c) 1997 Florida Association of REALTORS(R) All rights reserved [Graphic omitted] 31 4. TITLE: seller has the legal capacity to and will convey marketable title to the Property by [_] statutory warranty deed 32 [x] other Leasehold Estate, free of liens, easements and encumbrances of record or known to seller, 33 but subject to property taxes for the year of closing; covenants, restrictions and public utility easements of record; and (list any 34 other matters to which title will be subject)_____________________ 35 __________________________________________________________________ 36 Provided there exists at closing no violation of the foregoing and none of them prevents Buyer's intended use of the Property as 37 chemical Processing Plant - Industrial 38 (a) Evidence of Title: seller will, at (check one) [_]seller's [x] Buyer's expense and within 10 days [_] from Effective Date 39 [X] prior to closing Date [_] from date Buyer meets or waives financing contingency in Paragraph 3, deliver to Buyer (check one) 40 [X] a title insurance commitment by a Florida licensed title insurer and, upon Buyer recording the deed, an owner's policy in 41 the amount of the purchase price for fee simple title subject only to exceptions stated above. 42 [_] an abstract of title, prepared or brought current by an existing abstract firm or certified as correct by an existing firm. 43 However, if such an abstract is not available to Seller, then a prior owner's title policy acceptable to the proposed insurer as 44 a base for reissuance of coverage. The prior policy will include copies of all policy exceptions and an update in a format 45 acceptable to Buyer from the policy effective date and certified to Buyer or Buyer's dosing agent together with copies of all 46 documents recited in the prior policy and in the update. 47 (b) Title Examination: Buyer will, within 15days from receipt of the evidence of title deliver written notice to seller of title 48 defects. Title will be deemed acceptable to Buyer if (1) Buyer fails to deliver proper notice of defects or (2) Buyer delivers PAGE-2 ps bozenbury.txt 49 proper written notice and seller cures the defects within 10 days from receipt of the notice ("curative Period"). If the defects are 50 cured within the curative Period, closing will occur within 10 days from receipt by Buyer of notice of such curing. Seller may elect 51 not to cure defects if seller reasonably believes any defect cannot be cured within the curative Period. If the defects are not cured 52 within the Curative Period, Buyer will have 10 days from receipt of notice of seller's inability to cure the defects to elect whether 53 to terminate this contract or accept title subject to existing defects and close the transaction without reduction in purchase 54 price. The party who pays for the evidence of title will also pay related title service fees including title and abstract charges and 55 title examination. 56 (c) Survey:(check applicable provisions below) [x] seller 57 will, within 15 days from Effective Date, deliver to Buyer copies of prior surveys, plans specifications, and engineering 58 documents, if any, and the following documents relevant to this transaction:___________ prepared for Seller or in 59 seller's possession, which show all currently existing 60 structures. [_] Buyer will at [_] seller's [_] Buyer's 61 expense and within the time period allowed to deliver 62 and examine title evidence, obtain a current certified survey of the Property from a registered surveyor. If the survey reveals encroachments on the Property or that the 63 improvements encroach on the lands of another, [_] Buyer will accept the Property with existing encroachments [_] such 64 encroachments will constitute a title defect to be cured within the curative Period. 65 (d) ingress and Egress: Seller warrants that the Property presently has ingress and egress. 66 (e) Possession; seller will deliver possession and keys for all locks and alarms to Buyer at closing. 67 5. CLOSING DATE AND PROCEDURE: This transaction will be closed in 68 Okeechobee county, Florida on or before the ___________, _____________ or within 90 days from Effective Date ("Closing Date"), unless 69 otherwise extended herein. [x] seller [_] Buyer will designate the closing agent. Buyer and seller will, withinl0 days from Effective 70 Date, deliver to Escrow Agent signed instructions which provide for closing procedure. If an institutional lender is providing purchase 71 funds, lender requirements as to place, time of day and closing procedures will control over any contrary provisions in this Contract. 72 (a) Costs: Buyer will pay taxes and recording fees on notes, mortgages end financing statements and recording fees or the deed. 73 Seller will pay taxes on the deed and recording fees for documents needed to cure title defects. If seller is obligated to discharge 74 any encumbrance at or prior to closing and fails to do so, Buyer may use purchase proceeds to satisfy the encumbrances. 75 (b) Documents: Seller will provide the deed, bill of sale, mechanic's lien affidavit, assignments of leases, updated rent roll 76 tenant and lender estoppel letters, assignments of permits and licenses, corrective instruments and letters notifying tenants of 77 the change In ownership/rental agent. If any tenant refuses to execute an estoppel letter, Seller will certify that information 78 regarding the tenant's lease is correct. If seller is a PAGE-3 ps bozenbury.txt corporation, Seller will deliver a resolution of its Board of 79 Directors authorizing the sale and delivery of the deed and certification by the corporate secretary certifying the 80 resolution and setting forth facts showing the conveyance oo6 forms with the requirements of local law. Seller will transfer 81 security deposits to Buyer. Buyer will provide the closing statement, mortgages and notes, security agreements and financing statements. 82 Buyer (ABC) (_) and seller (GB) (GB) acknowledge receipt of a copy of this page, which is 2 of 5 pages. 8/11/05 83 (c) Taxes, Assessments, and Prorations: The following items will be made current and prorated [x] as of closing Date [_] as of 84 _______________: real estate taxes, bond and assessment payments assumed by Buyer, interest, rents, association dues, insurance 85 premiums acceptable to Buyer, operational expenses and If the 86 amount of taxes and assessments for the current year cannot be ascertained, rates for the previous year will be used with due 87 allowance being made for improvements and exemptions. seller is aware of the following assessments affecting or potentially 88 affecting the Property: Buyer will be responsible for all 89 assessments of any kind which become due and owing on or after Effective Date, unless the improvement is substantially 90 completed as of closing Date, in which case Seller will be 91 obligated to pay the entire assessment. (d) FIRPTA Tax withholding; The Foreign Investment in Real Property Act ("FIRPTA") requires Buyer to withhold at closing a portion of the 92 purchase proceeds for remission to the internal Revenue service ("I.R.S.") if Seller is a "foreign person" as defined by the 93 Internal Revenue Code. The parties agree to comply with the provisions of FIRPTA and to provide, at or prior to closing, 94 appropriate documentation to establish any applicable exemption from the withholding requirement. If withholding is 95 required and Buyer does not have cash sufficient at closing to meet the withholding requirement, seller will provide the 96 necessary funds and Buyer will provide proof to seller that such funds were property remitted to the I.R.S. 97 6. ESCROW: Buyer and seller authorize Cassels and McCall- NON-REFUNDABLE 98. Telephone: (863) 763-3131 Facsimile: (863) 763-1031 Address: 400 NW 2nd street: Okeechobee, FL 34972 99 _____________________________________________to act as "Escrow Agent" 100 to receive funds and other items and, subject to clearance, disburse them in accordance with the terms of this Contract. Escrow 101 Agent will deposit all funds received in [x] a non-interest bearing escrow account [_] an interest bearing escrow account with interest 102 accruing to with interest disbursed (check one)[_] at closing 103 [_] at intervals. If Escrow Agent receives conflicting demands or has a good faith doubt as to Escrow 104 Agent's duties or liabilities under this Contract, he/she may (a) hold the subject matter of the escrow until the parties mutually 105 agree to its disbursement or until issuance of a court order or decision of arbitrator determining the parties'rights regarding 106 the escrow or (b) deposit the subject matter of the escrow with the clerk of the circuit court having jurisdiction over the 107 disputer upon notifying the parties of such action, Escrow Agent will be released from all liability except for the duty to account for 108 items previously delivered out of escrow. If a licensed real estate broker, Escrow Agent will comply with applicable provisions of PAGE-4 ps bozenbury.txt 109 Chapter 475, Florida Statutes. In any suit or arbitration in which Escrow Agent is made a party because of acting as agent 110 hereunder or interpleads the subject matter of the escrow, Escrow Agent will recover reasonable attorneys' fees and costs at all 111 levels, with such fees and costs to be paid from the escrowed funds or equivalent and charged and awarded as court or other costs in 112 favor of the prevailing party. The parties agree that Escrow Agent will not be liable to any person for misdelivery to Buyer 113 or seller of escrowed items, unless the misdelivery is due to Escrow Agent's willful breach of this Contract or gross negligence. 114 7. PROPERTY CONDITION: seller will deliver the Property to Buyer at the time agreed in its present "as is" condition, ordinary 115 wear and tear excepted, and will maintain the landscaping and grounds in a comparable condition. seller makes no warranties 116 other than marketability of title. By accepting the Property "as is," Buyer waives all claims against Seller for any defects in 117 the property. (check (a) or (b)) 118 [_] (a) As IS: Buyer has inspected the Property or waives any right to inspect and accepts the Property in its "as is" condition. 119 [x] (b) Due Diligence Period: Buyer will, at Buyer's expense and within 90 days from Effective Date ("Due Diligence Period"), 120 determine whether the Property is suitable, in Buyer's sole and absolute discretion, for Buyer's intended use and development of 121 the Property as specified in Paragraph 4, During the Due Diligence Period, Buyer may conduct any tests, analyses, surveys 122 and investigations ("Inspections) which Buyer deems necessary to determine to Buyer's satisfaction the Property's engineering, 123 architectural, environmental properties; zoning and zoning restrictions; flood zone designation and restrictions; subdivision 124 regulations; soil and grade; availability of access to public roads, water, and other utilities, consistency with local, state 125 and regional growth management and comprehensive land use plans; availability of permits, government approvals and licenses; 126 compliance with American with Disabilities Act; absence of asbestos, soil and ground water contamination; and other 127 inspections that Buyer deems appropriate to determine the suitability of the Property for Buyer's intended use and development. Buyer shall deliver written notice to Seller prior 128 to the expiration of the Due Diligence Period of Buyer's determination of whether or not the Property is acceptable. 129 Buyer's failure to comply with this notice requirement shall constitute acceptance of the Property in its present "as 130 is" condition. seller grants to Buyer, its agents, contractors and assigns, the right to enter the Property at any time during the Due Diligence 131 Period for the purpose of conducting inspections; provided, however, that Buyer, its agents, contractors and assigns enter 132 the Property and conduct inspections at their own risk. Buyer shall indemnify and hold seller harmless from losses, damages, 133 costs, claims and expenses of any nature, including attorneys' fees at all levels, and from liability to any person, 134 arising from the conduct of any and all inspections or any work authorized by Buyer. Buyer will not engage in any activity that 135 could result in a mechanic's lien being led against the Property without seller's prior written consent. In the event this 136 transaction does not dose, (1) Buyer shall repair all damages to the Property resulting from the inspections and return the Property to the condition it was in prior to conduct of 137 the Inspections, and (2) Buyer shall, at Buyer's expense, release to seller all reports and other work generated as a result of the PAGE-5 ps bozenbury.txt 138 Inspections. Should Buyer deliver timely notice that the Property is not acceptable, seller agrees that Buyer's deposit shall be 139 immediately returned to Buyer and the contract terminated. 140 Buyer (ABC) (___)and seller (GB) (GB) acknowledge receipt of a copy of this page, which is 3 of 5 pages. 8/11/05 141 (c) walk-through inspection: Buyer may, on the day prior to closing or any other time mutually agreeable to the parties, 142 conduct a final "walk-through" inspection of the Property to determine compliance with this paragraph and to ensure that all 143 Property is on the premises. 144 (d) Disclosures: 145 1. Radon Gas: Radon is a naturally occurring radioactive gas that, when it has accumulated in a building in sufficient 146 quantities, may present health risks to persons who are exposed to it over time. Levels of radon that exceed federal and state 147 guidelines have been found in buildings in Florida. Additional information regarding radon and radon testing may be obtained 148 from your county public health unit. 149 2. Energy Efficiency: Buyer may have determined the energy efficiency rating of the building, if any is located on the Real 150 Property. 151 8. OPERATION OF PROPERTY DURING CONTRACT PERIOD: Seller will continue 152 to operate the Property and any business conducted on the Property in the manner operated prior to Contract and will take no action that 153 would adversely impact the Property, tenants, lenders or business, if any. Any changes, such as renting vacant space, that materially 154 affect the Property or Buyer's intended use of the Property will be permitted [x] only with Buyer's consent [_]without Buyer's consent. 155 9. RETURN OF DEPOSIT Unless otherwise specified in the contract, in the event any condition of this contract is not met and Buyer has 156 timely given any required notice regarding the condition having not been met, Buyer's deposit will be returned in accordance with 157 applicable Florida laws and regulations. 158. 10. DEFAULT: 159 (a) In the event the sale is not closed due to any default or failure on the part of Seller other than failure to make the 160 title marketable after diligent effort, Buyer may either (1) receive a refund of Buyer's deposit(s) or (2) seek specific 161 performance. if Buyer elects a deposit refund, Seller will be liable to Broker for the full amount of the brokerage fee. 162 (b) In the event the sale is not closed due to any default or failure on the part of Buyer. seller may either (1) retain all deposit(s) 163 paid or agreed to be paid by Buyer as agreed upon liquidated damages, consideration for the execution of this contract, and in 164 full settlement of any claims, upon which this contract will terminate or (2) seek specific performance. if seller retains the 165 deposit, Seller will pay the Listing and cooperating Brokers named in Paragraph 12 fifty percent of all forfeited deposits 166 retained by Seller (to be split equally among the Brokers) up to the full amount of the brokerage fee. 167 11. ATTORNEY'S FEES AND COSTS: In any claim or controversy arising out of or relating to this contract, the prevailing party, which for 168 purposes of this provision will include Buyer, seller and Broker will PAGE-6 ps bozenbury.txt 169 be awarded reasonable attorneys' fees, costs and expenses. 170 12. BROKERS: Neither Buyer nor seller has utilized the services of, or for any other reason owes compensation to, a licensed 171 real estate Broker other than: 172 (a) Listing Broker. D.R. Wilson Land company 173 who is [_] an agent of [x] transaction broker [_] a nonrepresentative 174 and who will be compensated by [x] seller [_] Buyer [_] both parties pursuant to [x] a listing agreement [_] other (specify) 175 ________________________________________________________________ 176 ________________________________________________________________ 177 ________________________________________________________________ 178 (b) cooperating Broker: N/A 179 who is [_] an agent of [x] transaction broker [_] a nonrepresentative 180 and who will be compensated by ? Buyer [_] Seller [_] both parties pursuant to [_]an MLS or other offer of compensation to a 181 cooperating broker [_]other (specify) 182 ________________________________________________________________ 183 ________________________________________________________________ 184 ________________________________________________________________ 185 (collectively referred to as "Broker") In connection with any act relating to the Property, including but not limited to inquiries; 186 Introductions, consultations and negotiations resulting in this transaction. seller and Buyer agree to indemnify and hold Broker 187 harmless from and against losses, damages, costs and expenses of any kind, including reasonable attorneys' fees at all 188 levels; and from liability to any person, arising from (1) compensation claimed which is inconsistent with the representation in this Paragraph, (2) 189 enforcement action to collect a brokerage fee pursuant to Paragraph 10, (3) any duty accepted by Broker at the request of Buyer or 190 Seller, which duty is beyond the scope of services regulated by Chapter 475, F.S., as amended, or (4) recommendations of or services 191 provided and expenses incurred by any third party whom Broker refers, recommends or retains for or on behalf of Buyer or seller. 192 13. ASSIGNABILITY; PERSONS BOUND: This contract may be assigned to a related entity, and otherwise [x] is not assignable 193 [_] is assignable. The terms "Buyer", "Seller" and "Broker" may be singular or plural. This Contract is binding upon Buyer, seller 194 and their heirs. personal representatives, successors and assigns (if assignment is permitted). 195 Buyer (ABC)(_) and seller (GB) (GB) acknowledge receipt of a copy of this page, which is 4 of 5 pages. 8/11/05 196 14. OPTIONAL CLAUSES: (Check if any of the following clauses are applicable and are attached as an addendum to this contract): 197 [_] Arbitration [_] seller warranty [_] Existing Mortgage 198 [_] section 1031 Exchange [_] Coastal Construction Control line [x] other seller/Buyer Responsibilities 199 [_] Property Inspection and [_] Flood Area Hazard Zone Repair [_] other __________________ PAGE-7 ps bozenbur .txt 200 [_] Seller Representations [x] Seller Financing [_] other __________________ 201 15. MISCELLANEOUS: The terms of this Contract constitute the entire agreement between Buyer and seller, modifications of this Contract 202 will not be binding unless in writing, signed and delivered by the party to be bound. signatures, initials, documents referenced in this 203 contract, counterparts and written modifications communicated electronically or on paper will be acceptable for all purposes, 204 including delivery, and will be binding. Handwritten or typewritten terms inserted in or attached to this Contract prevail over 205 preprinted terms. if any provision of this contract is or becomes invalid or unenforceable, all remaining provisions will continue to 206 be fully effective. This contract will be construed under Florida law and will not be recorded in any public records. Delivery of any 207 written notice to any party's agent will be deemed delivery to that party. 208 THIS IS INTENDED TO BE A LEGALLY BINDING CONTRACT. IF NOT FULLY UNDERSTOOD, SEEK THE ADVICE OF AN ATTORNEY PRIOR TO SIGNING. BROKER 209 ADVISES BUYER AND SELLER TO VERIFY ALL FACTS AND REPRESENTATIONS THAT 210 ARE IMPORTANTTO THEM AND TO CONSULT AN APPROPRIATE PROFESSIONAL FOR LEGAL ADVICE (FOR EXAMPLE, INTERPRETING CONTRACTS, DETERMINING 211 THE EFFECT OF LAWS ON THE PROPERTY AND TRANSACTION, STATUS OF 212 TITLE, FOREIGN INVESTOR REPORTING REQUIREMENTS, ETC.) AND FOR TAX, PROPERTY CONDITION, ENVIRONMENTAL AND OTHER SPECILIZED ADVICE BUYER 213 ACKNOWLEDGES THAT BROKER DOES NOT OCCUPY THE PROPERTY AND THAT ALL 214 REPRESENTATIONS (ORAL, WRITTEN OR OTHERWISE) BY BROKER ARE BASED ON 215 SELLER REPRESENTATIONS OR PUBLIC RECORDS UNLESS BROKER INDICATES PERSONAL VERIFICATION OF THE REPRESENTATION. BUYER AGREES TO RELY 216 SOLELY ON SELLER, PROFESSIONAL INSPECTORS AND GOVERNMENTAL AGENCIES 217 FOR VERIFICATION OF THE PROPERTY CONDITION, SQUARE FOOTAGE AND FACTS THAT MATERIALLY AFFECT PROPERTY VALUE. 218 DEPOSIT RECEIPT: Deposit of $________________________ by [_] check [_] other ______________________________ received on 219 _____________________ , _________________by ________________________ 220 Signature of Escrow Agent 221 OFFER: Buyer offers to purchase the Property on the above terms and conditions, unless acceptance is signed by Seller and a signed copy 222 delivered to Buyer or Buyer's agent no later than 8/15/05 Buyer may 223 revoke this offer and receive a refund of all deposits. 224 Date:8/11/05 BUYER: /s/ Albert B. Conti Tax ID No: 225 Title. President - Haber Inc. Telephone: 781 ###-###-#### Facsimile: 781 ###-###-#### 226 Address: 58 Medford St., Arlington, MA 02474 228 Date:_________ BUYER:________________ Tax ID NO: ____________ Title:________________ Telephone: ____________ Facsimile:____________ 229 Address:_______________________________ 230 ACCEPTANCE: seller accepts Buyer's offer and agrees to sell the Property an the above terms and conditions ([_] subject to the 231 attached counter offer). PAGE-8 ps bozenbury.txt 232 Date: 7/18/05 Seller: /s/ Gregg Bozenbury Tax ID No:_____________ 233 Title:________________ Telephone:_____________ Facsimile: ___________ 234 Address: 2455 NW 16th Boulevard 235 Date:_________ BUYER:________________ Tax ID No:_____________ 236 Title:________________ Telephone:_____________ 237 Facsimile:____________ Address:______________ 238 Buyer (ABC) (__) and seller (GB) (GB) acknowledge receipt of a copy of this page, which is 5 of 5 pages. The Florida Association of REALTORS makes no representation as to the legal validity or adequacy of any provision of this form in any specific transaction. This standardized form should not be used in complex transactions or with extensive riders or additions. This form is available for use by the entire real estate industry and is not intended to identify the user as a REALTOR. REALTOR is a registered collective membership mark which may be used only by real estate licensees who are members of the NATIONAL ASSOCIATION OF REALTORS and who subscribe to its Code of Ethics. The copyright laws of the United States (17 u.s. code) forbid the unauthorized reproduction of this form by any means including facsimile or computerized forms. Cc-2 (C) 1997 Florida Association of REALTORS(R) All rights reserved Addendum to contract for Leasehold Lease to Purchase Gregg Bozenbury (seller) and Haber, Inc. or its signatories (Buyer) concerning the property described as: 2455 NW 16th Boulevard, Okeechobee, FL 34972 (the "Contract"), Buyer and Seller make the following terms and conditions part of the contract: A. The leasehold property -is identified as tax ID #1-08-37-35-0010-00000-0090. A legal, subject to survey, is Okeechobee county Industrial Authority Park Lot 9. Buyer has the right to verify and accept the legal description within 30 days from effective date of this contract. The purchase price is agreed to be $725,000. B. The Buyer shall deposit of $20,000 with escrow agent at time of contract execution. This deposit shall become nonrefundable and payable directly to Seller upon receipt of the deposit by the escrow agent. Within 90 days from the effective date of this contract, Buyer shall pay an additional $80,000 to Seller for a total deposit of $100,000 that shall be non-refundable. At that time, Buyer shall sublease from Seller the property for up to three years. The first year's rent shall be based on interest only payment on the balance of the purchase price at a 7.5% annual interest, with monthly payment. Payments for year one are estimated to be $3,906.25per month, plus sales tax, plus monthly percentage of prorated real estate tax (annual tax estimate/12). Beginning the 1st day of year two (2), an additional $50,000 principle reduction payment shall be made, along with the monthly rental payment adjusted for the new purchase price balance of $575,000, estimated to PAGE-9 ps bozenbury.txt be $3,593.75, plus tax. The final payment of $575,000shall be due a payable at the end of year three (3), less typical closing costs and prorations. The sub-lease agreement shall be in a form acceptable to seller, but shall contain only clauses generally utilized for this type of agreement and shall provide for (1) a late payment fee, (2) the right to prepay without penalty all or part of the principal at any time(s) with interest only to date of payment, (4) the balance to be due on conveyance or sale and (5) Buyer to keep property insured against loss by fire and flood with extended coverage in an amount not less than the amount of the Purchase price. C. The agreement is contingent on Buyer obtaining EPA, DEP, and county approval of a chemical processing plant within 90 days from the effective date. D. The agreement is contingent on Buyer obtaining an acceptable lease on two western adjacent parcels from Okeechobee county. E. The sale is contingent on property obtaining a clean environmental certificate. F. Seller is required to repair northeastern door(s), install a door on the rear of the building, repairing damaged drywall on the eastern side of the building, repairing lighting in workshop, replacing broken tiles on staircase and have four a/c's serviced and in good working order. G. seller may remove "wolf-print" tile from office are if he would like, however it will need to be replaced with a tile matching the remaining room tiles.