Purchase and Sale Agreement between June Stevens and Heartland Inc. for 109 Industrial Blvd, Ripley, TN

Contract Categories: Business Finance › Purchase Agreements
Summary

June Stevens has agreed to sell, and Heartland Inc. has agreed to buy, the property at 109 Industrial Blvd, Ripley, Tennessee, for a total price of $650,000. Heartland Inc. will pay $495,000 of the price using 123,750 restricted shares of its stock and will assume an existing loan of $155,000. Heartland Inc. is responsible for all closing costs for both parties. The transaction is set to close within one week.

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EX-10.1 3 f8k_0617ex101-iwlj.txt ACQUISITION OF PROPERTY IN RILPEY, TN Exhibit 10.1 - Purchase/Sales Agreement Purchase/ Sales Agreement June Stevens as Sellers, and Heartland Inc. as buyer, hereby agree that the Seller shall sell and the Buyer shall buy the following described properties UPON THE TERMS AND CONDITIONS HEREINAFTER SET FORTH. The Purchase Price of: $ 650,000.00 Existing First Loan $ 155,000.00 Balance $ 495,000.00 Paid in Restricted stock $ 495,000.00 Number of shares 123,750.00 Commonly know as: 109 Industrial Blvd, Ripley, TN Financing: Total purchase price shall be paid with 123,750 restricted shares of Heartland Inc. Buyer to pay all closing cost of both buyer and seller. Buyer will assume obligations of existing loan. o The escrow period shall be 1 week. /s/ Jeffrey Brandeis 6/17/04 - ------------------------ --------- Heartland Inc. Date Buyer /s/ June Stevens 6/15/04 - ------------------------ ---------- June Stevens Date Seller