Release of Purchase and Sale Contract between Vista International Technologies, Inc. and Brown-Lewisville Railroad Family First Limited Partnership

Contract Categories: Business Finance › Release Agreements
Summary

Vista International Technologies, Inc. and Brown-Lewisville Railroad Family First Limited Partnership have agreed to cancel their previous contract for the sale of approximately 26.9 acres in Dallas County, Texas. Both parties release each other from all obligations under the contract, which is now void. The earnest money deposit of $25,000 will be distributed, with $100 going to the seller and the remainder, plus interest, returned to the purchaser. The purchaser is released from any further responsibility to deposit funds with Chicago Title Insurance Company.

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EX-10.22 6 ex10_22.htm RELEASE OF CONTRACT

 

 

Vista International Technologies, Inc. 10-K

 

Exhibit 10.22

 

RELEASE OF CONTRACT

 

DATE:   January 18, 2012   GF NO.  2111-00208
SELLER:   Vista International Technologies, Inc.    
PURCHASER:   Brown-Lewisville Railroad Family First Limited Partnership    

 

RE:   PURCHASE AND SALE CONTRACT, by and between Vista International Technologies, Inc., (as Seller) and Brown-Lewisville Railroad Family First Limited Partnership(as Purchaser), dated effective February 17, 2011 (the Contract); Property: approximately 26.9 acres, located in Dallas County, Texas

 

The undersigned parties to the above described Earnest Money Contract, do hereby release all parties thereto from said Contract, and do declare said Earnest Money Contract to be null and void and of no further force and effect, and further declare said Earnest Money Contract to be in all things canceled.

 

The undersigned further agree and authorize Chicago Title Insurance Company to release funds all ready deposited as itemized below:

 

  Earnest Money Deposit   $25,000.00
       
Release:    
       
  To Seller:   $100.00
  To Purchaser:   $24,900.00 plus accrued interest

 

IN SIGNING SAID RELEASE OF CONTRACT PURCHASER WILL NOT BE RESPONSIBLE TO DEPOSIT ANY FURTHER MONEY TO CHICAGO TITLE INSURANCE COMPANY AND IS HEREBY RELEASED OF ANY LIABILITY AND/OR RESPONSIBILITY THEREOF.

 

PURCHASER:  
   
Brown-Lewisville Railroad Family First Limited Partnership  
     
  By:  BLRR Management, LLC  
  Its:  General Partner  
       
    By:    
       
    Name:    
    Title:    
             
SELLER:  
   
Vista International Technologies, Inc.  
   
    By:    
    Name:    
    Title: