Debt Purchase Agreement among Gary B. Wolff, First Trust Management, and Laufer Bridge Enterprises, Inc.

Summary

This agreement, effective April 27, 2012, is between Gary B. Wolff, First Trust Management, and Laufer Bridge Enterprises, Inc. It transfers $10,000 of payment rights under a 2008 promissory note from Wolff to First Trust Management, with Laufer Bridge Enterprises as the debtor. First Trust Management pays $10,000 to Wolff for these rights, and Laufer agrees to honor the new arrangement. The agreement replaces any previous related agreements and is binding on all parties and their successors.

EX-10.4 4 f8k051512_ex10z4.htm EXHIBIT 10.4 DEBT PURCHASE AGREEMENT Exhibit 10.4 Debt Purchase Agreement

Exhibit 10.4


DEBT PURCHASE AGREEMENT


This Debt Purchase Agreement (“Debt Purchase Agreement”) is made and entered into effective as of  April 27, 2012 by and among Gary B. Wolff (“GBW”), First Trust Management, (“FT”) and Laufer Bridge Enterprises, Inc. (“Laufer”).


WHEREAS, the parties to this Debt Purchase Agreement desire to modify that a certain promissory note dated September 13, 2008 (the “Promissory Note”) executed between GBW and Laufer by selling, assigning, transferring and conveying the rights and interests to partial payment of the Promissory Note in the amount of fifty thousand ($50,000) dollars from GBW to FT.


NOW, THEREFORE, for good and valuable consideration, the receipt of which is hereby acknowledged, the parties hereby agree as follows:


1.

Transfer and Assignment. As permitted by Laufer, GBW hereby sells, assigns, transfers, and conveys unto FT its rights and interests to receive payments in the amount of $10,000 under the Promissory Note. The remaining rights and interests in the balance of the Debt, if any, will remain with GBW.


2.

Consideration. Consideration to be paid to GBW shall be a total of $10,000.


3.

Agreement to be bound. Laufer agrees to be bound by all the terms and conditions applicable to GBW under the Debt.


4.

Entire Agreement. This Debt Purchase Agreement embodies the entire agreement between GBW and FT and supersedes any prior agreements, whether written or oral with respect to the subject matter thereof.


5.

Successors. This Debt Purchase Agreement shall be binding upon and shall inure to the benefit of each of the parties to this Debt Purchase Agreement and each of their respective successors and assigns.


6.

Counterparts. This Debt Purchase Agreement may be executed in any number of counterparts, each of which shall be deemed to be an original as against any party whose signature appears thereon and all of which together shall constitute one instrument.


(Remainder of page intentionally left blank: signature page to follow)




IN WITNESS WHEREOF, the parties hereto have caused this Debt Purchase Agreement to be duly executed and delivered as of the date first written above.


 

 

Gary B. Wolff, P.C.

 

/s/ Gary B. Wolff

 

Name: Gary B. Wolff

Its: President and Sole Owner

 

First Trust Management

 

/s/ John Zukowski

 

Name: John Zukowski

 

 

ACCEPTED, ACKNOWLEDGED AND APPROVED


Laufer Bridge Enterprises, Inc.

 

/s/ Bill Chaaban

 

Name: Bill Chaaban

Its: President, CEO, Director




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