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7~ }~~~~ F:EF70RANDUN OF AC REEFIENT
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<br />,~b~'6K;~,• This agreement made and entered into this 18th day of ,
<br />'rY' November, 1982 by and between Jim D. Means, Harry F. Baker,
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<br />Floyd (lanes and Daryl Jackson, hereinafter referred to as 'Buyers'
<br />~,~".',+.~ and Richard Randall, hereinafter referred to as 'Seller'. '
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<br />;,' WHEREAS, Richard Randall is the President of Randall i Blake,
<br />~'' Inc., a Colorado eor~poration, which said corporation owns all
<br />of the stock of Randall c Blake, Okla., Inc., an Oklahoma corpor-
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<br />' M m ation, and whereas, the Buyers desire io buy the stock of Randall
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<br />. :~ 6 Blake, Okla, Inc. Now therefore, the parties hereto agree as
<br />~,yti follows:
<br />•~ o ~a, 1. Randall c Blake, Inc., pursuant to appropriate instruments,
<br />v w ~ ~ shall convey one hundred (100) percent of the stock in Randall a
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<br />w o.m w Blake, Okla., Inc. to the Buyer:
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<br />" Ni4 w 2. Randall 6 Blake, Okla., Inc. shall give its promissory note
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<br />a w ti ~ for Eighi Hundred Fifty Thousand Dollars ($850,000.00) to
<br />u ~ a w Randall 6 Slake, Inc. as consideration for such stock and for
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<br />w u m~N certain specified equipment of Randall a Hlake, Inc, which is
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<br />o y identified in a 6i11 of Sale dated this date.
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<br />•.c+u a o 3• Randall 6 Blake, Inc. is responsible for disbursement of any
<br />~ % ~ N° and all Randall i Blake, Okla., Ina. cash receipts in accordance
<br />E u m m with the attached budget until such time as the Four Hundred
<br />w o i c Thousand Dollars (5400,000.00) is paid. ,(See Promissory Note)
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<br />~,y w ~ Disbursements will be made by wire transfer to Randall c Blake,
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<br />=.s ~ g Okla., Inc. speeif led bank account upon submitting requests in
<br />~ ~" -compliance with budget. Copies of invoices and shipping tickets
<br />b 'a .i y
<br />o~o ~i cfor payment will acco:rpany payment requests. Budget amounts Cor
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<br />c o ~ m payroll and open accounts will be advanced on a regular weekly
<br />~a~+ o 'basis; requests for disbursement will not be required. Budget
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<br />m o o ~ may be changed or amended as required and approved by principals
<br />.r o•~ ., of both corporations.
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<br />w ~ e a4. The above mentioned promissory note shall be secured by
<br />Y °O>.~6imsecurity agreement and financing statement listing the equipment
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<br />°'"0' ccontained in the Bill of Sale as collateral to secure said note.
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<br />w o E5. It is further understood and agreed that the Buyers and
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<br />y m ~.~, Randall 6 Blake, Okla., Inc. by and through its appropriate officers
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<br />F u ,~ uas further consideration for this agreement and for all instru-
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<br />,~ H ements entered into cn this date by [he parties hereby grants to
<br />~'~/°pppa oRandall a Blake, Inc. an option for a period of one hundred
<br />~j}{ twenty (120) days from the dace hereof within which to repurchase
<br />''`~.'~` twenty (20) percent of the ownership of Randall a Blake, Okla.,
<br />/~, Tnc. for the sum of one dollar.
<br />(",~~\~\J ~ In witness. of our hand and~seal.this lath day of November,
<br />1902. //) ~~
<br />Ila rry F. Oaker
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