1993-12-23_GENERAL DOCUMENTS - C1981017 (2)

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Mr. Delaney December 23 , 1993 Page 2 8 . Bill of sale for the personal property; 9 . Payment of applicable sales taxes on equipment by seller; 10 . Title to all other assets free and clear of all liens and encumbrances of any kind; 11. Board approval by Pete Lien & Sons, Inc. Your acceptance to my offer must be in writing. My offer will remain outstanding for a period of thirty days during which time your acceptance must be received. This offer will be cancelled without further notice if your acceptance is not received within thirty days of the date of this offer. Upon your acceptance our counsel shall prepare a written purchase agreement. The purchase agreement will include all standard provisions and shall include as contingencies all those stated in this letter. Board approval by our directors will be required of the purchase agreement. If you accept my offer I will, if you require, make a deposit of $5 , 000 into an escrow account at a bank of your choosing with the name of the account to be Pete Lien & Sons, Inc./Escrow account. Failure of the parties to agree upon and execute an acceptable written purchase agreement within thirty days after your written acceptance is received shall authorize a return of $5, 000 to Pete Lien & Sons, Inc. unless the parties agree to an extension. Finally, I would be willing to consider depositing in escrow the entire purchase price upon execution of a written purchase agreement pending completion of the various contingencies. I am willing to do this, however, provided Pete Lien & Sons, Inc. will be authorized to take over possession of the property and operate the same (upon receipt of air quality permits and zoning clearance) . Please call if you have any questions. Very truly yours, PETE LIEN & SONS, INC. P et"L Vice President and C.O.O. PCL/kad