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ti <br />.,•' <br />':~ <br />`~+x <br />,.~. <br />,,-a determined by market price at the time of closin~3 of <br />•, the sale. <br />s <br />b. DJJ will pay $1,000,000 of the purchase price <br />;, <br />~' into an escrow on the date of execution of the Letter <br />`~ ~ ~ of Intent with the balance of the purchase price to be <br />'~: <br />r ~.. <br />„ paid at closing. <br />,Y: 4 . , ~ . <br />c. AMC and DMC have agreed to provide title to <br />4' :. ~ '~ ..F J .. <br />the Purchased Assets free and clear of claims, liens <br />and encumbrances as set forth and as subject to th<a <br />-{' t <br />_~ exceptions in paragraph 4 of the Letter of Intent. <br />.. <br />;,~,~ d. The Letter of Intent contemplates that <br />1 closing may occur as early as March 31, 1993. <br />s" e. Consummation of the sale is subject to the <br />~`~ ~ completion of an environmental report acceptable: to DJJ <br />~~. <br />as well as other conditions set forth in paragraph 6 of <br />~~- <br />the Letter of Intent. <br />,~''. <br />-` •' 9. A definitive sale agreement with material t:er..ns as <br />,e- set forth in the Letter of Intent will be prepared and executed <br />:~ <br />'..~.: <br />';_ by the•parties after an order of the court is entered permitting <br />~: <br />,• <br />~': this sale of the Purchased Assets free and clear of liens an3 <br />~e <br />encumbrances. <br />,,•: <br />?~'• '+ 10. DJJ has represented to the Reorganized Debi.ors <br />.. ,• <br />that it is capable of performing the terms set forth in t2ie <br />Letter of Intent. <br />Y` <br />4 <br />