Lyon William Sample Contracts

Lyon William – STOCK PURCHASE AND SALE AGREEMENT (July 20th, 1999)

STOCK PURCHASE AND SALE AGREEMENT THIS STOCK PURCHASE AND SALE AGREEMENT (this "Agreement") is entered into as of this 6th day of July, 1999 by and among William Lyon Homes, Inc., a California corporation ("Purchaser"), and The Chase Manhattan Bank, as Trustee for First Plaza Group Trust ("Seller"). RECITALS: WHEREAS, Purchaser, The Presley Companies, a Delaware corporation ("Presley-Del."), and Presley Homes, a California corporation ("Presley-Cal."), are parties to a letter of intent dated May 3, 1999 attached hereto as Exhibit A (the "Letter of Intent") which sets forth such parties' mutual, preliminary understanding with respect to Presley-Cal.'s proposed acquisition of substantially all of the assets of Purchaser (the "Acquisition") and Purchaser's proposal to acquire a portion of the outstanding shares of Common Stock of Presley-Del.; and WHEREAS, the Letter of Intent contemplates that Purchaser wi