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03/15/2005 09: 58 2094671118 AGE STOCKTON PAGE 03112 �
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<br /> E;4It ESTATER_CHAS
<br /> E AND SALE AGXT
<br /> This R&bj, Y,8TATE PURCHASE AND SALE AGREEMENT is madm
<br /> and effective as of �} p5 _ , ?005, by and among
<br /> GEORGE HQGRE,3 a A RUMARA HUGHES", 12ereissafter "SETTLERS, "
<br /> and STEPHEN 1, DENSON, or his assignee, X;kTN STR.UST PACKING j
<br /> r,LC, a ca,),9,f.7txnia limited liability COMPan1r, which is in
<br /> the provevs 7i: formation, hereinafter "BUYER." �
<br /> 1. pro,00rty. $eller hereby agree6 to sell to Huger, �
<br /> and Buyer hereby agrees to buy from Seller„ that edbrtain
<br /> real property located, in the City of Lodi, County of Sari
<br /> Joaquin, Sta.tee of California, located at 322 N. Sacramento
<br /> Street (APP 011-166-01) and 400 N. Sacramento Street (APN
<br /> 041-210-14) , a,odi, California, 9.5240, hereinafter "the
<br /> property."
<br /> 2. pux,cli a® p `ce. The puichase .price to be paid by
<br /> Buyer to Selly?rs for the property shall be = 00.
<br /> 3 , Tax-,V3 of Puzehase. Thi pur'c!MOO price Of
<br /> $213o,coa.W shall be paid as follows:
<br /> (a) W.i.thin ten (10) diyg of the full eXecution of
<br /> this Agreemont, Buyar ahall deposit a down paymcwt of
<br /> $ )00.00 in i.scrow. This $5, 000.00 depQs-Lt is non-
<br /> refundable, except as provided herein, and shall be
<br /> forfeited to 3ellers if escrow fails to close unless the
<br /> deposit is reiturnable pursuant to paragraphs 5 and 7, which
<br /> Buyer' s appx:oral a s a condition pxecedearat i:o the close of
<br /> escrow.
<br /> (b) The rema:Lndar of: the purchagie price,
<br /> ;shall be paid as follows;
<br /> (i)
<br /> ;,, D00-00 bye Buyer 'to Sellers at the
<br /> close of esc.raw.
<br /> f
<br /> (ii.) proml>ssory Note in the 4 mount of
<br /> u_ :00, Interest only at the rate of 15% per annum,:
<br /> payable monthly, balance due dne year from the close of;
<br /> escrow. Said Promissoary Note shall, include a prepayment
<br /> penalty of _10k of the outstandlag principal balance if paid
<br /> before Deeeaz,ber 31, 2005, howaver, 'Buyer may request that
<br /> Sellers subc.,rdinate their Promissory Note so that Buyer. may
<br /> obtain construction financing. Said Promijisory Note shall
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<br /> t0 'd b£qt CH 602. t 'ON XH NUMN NVAIMS N311AW WV 91,60 NOIR 9002-VIAV[
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