Laserfiche WebLink
DISSOLUTION AGREEMENT <br /> WHEREAS Kashmir Dhoot and Dalwinder S. Dhoot effective immediately desire to <br /> exchange assets in D,B, PARTNERSHIP and THE DHOOT BROS. PARTNERSHIP and <br /> to exchange their shares in DHOOT BROS. PARTNERSHIP INC, and DHOOT BROS, <br /> ASSOCIATES INC.; <br /> WHEREAS Dalwinder S. Dhoot desires to resign as officer and member of the board of <br /> DHOOT BROS. ASSOCIATES INC. and to divest his interest in any of the corporate <br /> assets and to surrender all of his shares of stock in the corporation in exchange for <br /> Kashmir Dhoot resigning as officer and member of the broad of directors of DHOOT <br /> BROS, PARTNERSHIP INC., and divesting his interest in any of the corporate assets <br /> and surrendering all of his shares of stock in said corporation; <br /> WHEREAS upon Kashmir Dhoot's resignation as President and member of the board and <br /> surrender of his shares of stock in DHOOT BROS. PARTNERSHIP INC., Dalwinder S. <br /> Dhoot will become President of DHOOT BROS. PARTNERSHIP INC, and Gurdiv <br /> Dhoot will become Secretary of this corporation and will be issued equal shares; <br /> WHEREAS upon Dalwinder S. Dhoot's.resignation as Secretary/Treasurer and member <br /> of the board and surrender of his shares of stock in DHOOT BROS. ASSOCIATES INC.. <br /> Kashmir.Dhoot will continue as President of DHOOT BROS,ASSOCIATES and <br /> Gurdev Kaur Singh Dhoot will become Secretary of this corporation and will be issued <br /> eMl shares; <br /> WHEREAS Kashmir Dhoot and Dalwinder S. Dhoot wish to exchange each of their- <br /> interests <br /> heirinterests in these partnerships and corporations so as to minimize any capital gains or to <br /> avoid any taxes on transfer; <br /> WHEREAS Kashmir Dhoot and Dalwinder S. Dhoot will continue to guarantee the loans <br /> and debts on each business property and real property until such time as new permanent <br /> financing may be obtained; <br /> WHEREFORE in consideration of the mutual covenants contained in this Agreement, the <br /> parties now agree as follows: <br /> I� The parties,their successors in interest and their respective administrators, <br /> executors and assigns, hereby agree to provide their immediate, good-faith and <br /> full cooperation in expediting the exchange of assets of D.B. PARTNERSHIP, <br /> THE DHOOT BROS. PARTNERSHIP, DHOOT BROS. PARTNERSHIP INC. <br /> and DHOOT BROS. ASSOCIATES INC, and in filing the appropriate documents <br /> with federal,state and local government agencies as required by federal and state <br /> statutes. <br /> Initials k-:s4- _#j Page I of 5 <br />