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I�j ADL Circuits, Inc. February 16, 1994 Mr. Crary Farrar Hankruptcy Trustee for R.V. Circuits 1801 "H" street Modesto, CA 95354 Fax: 209-522-3312 Dear Gary: This letter will serve to memorialize our conversation and restate the terms that we have discussed concerning our interest in R.V. Circuits in Stockton. In the interest of time and because of my limited typing abilities 1 will do this in summary florin. Because of your limited time (but not because of your typing abilities) i would also ask that if I huve stated the particulars correctly you would sign and fax back this letter for my files. ADI.Circuits would acquire all the assets of R.V. Circuits in place at 916 Center Street in Stockton if" the following conditions are met: ❑ Landlord agrees to new 5-year lease under the same-conditions as the old lease and adds the follo%ving improvements: re-pave the parking lot; fence the front parking lot; repaint the' building; repaint and re carpet the interior of the building; insure that all cleanup of stored tanks on the premises are completed and installs a burglar alarm and movement detectors with mercury vapor lights on the outside walls of the building. ADL will occupy premises at no rent until 90 days from acceptance of all permits and completion of all the above items. I,ease term will expire 5 years from month rent begins. (In process) ❑ Alan Baker Companv will allow Norman and Gerriann Smith to assume the R.V. conditional contract of sale with clear title at the end of the payoll'term. This note will be for$250,000 at 12.5% for 60 months with a 6 month moratorium where interest will accrue but will be spread into the 60 monthly payments. In addition Alan Baker Company will agree to sell to Norman and Gerriann Smith the equipment on the attached list at a 15°10 mark up with the same terms and conditions. Buyer agrees to pay sales tax on the attached equipment delivery. Delivery will be to Stockton and sales tax charged at that rate. (Done) ❑ Precious Resources will allow ADL Circuits to assume the purchase contract for the Ion Exchange system. (Done) Cl The City of Stockton issues the necessary permits in a timely manner and approvals are granted in the next 45 days. This requires the trustees signoff.. I1S0 Chary Court Concord, California 94518 TEL: 5111`687-5444 FAX: 510-686-5020 Attachment "A"