PURCHASE AGREEMENT
AGREEMENT made this 24th day of September 1998 by and between CHAN XXX XXXX, a
New York resident ("Seller") and BAMBERG COMPANY LTD., a British Vrigin Islands
corporation ("Purchaser").
WHEREAS:
FOR GOOD AND VALUABLE consideration in hand paid, the receipt and sufficiency of
which are hereby ackowledged, Seller and Purchaser herein hereby agree as
follows:
1. Seller hereby agrees to sell and Purchaser hereby agrees to purchase all of
the Collateral, as such term is defined in that certain Security
Agreement-Pledge dated July 1, 1998 between Rhine Investment Holdings
Company Limited and Seller.
2. The purchase price of the Collateral ("Purchase Price") shall be the amount
of $U.S.145,000 (ONE HUNDRED FORTY FIVE THOUSAND UNITED STATES DOLLARS)
3. The Purchase Price shall be paid to Seller by Purchaser in cash in its
entirety on or before a date that is 30 days from the date of this
Agreement.
4. This Agreement shall be governed by the laws of the state of New York,
without regard to the choice of laws principles that might otherwise be
applied in such jurisdiction.
IN WITNESS WHEREOF, the parties hereto hereby enter into this Agreement as of
the date first above written.
/s/ Chan Xxx Xxxx
________________________________
Xxxx Xxx Xxxx
Xxxxxxx Company Ltd.
/s/ Xxxxx Xxx
________________________________
Name: Xxxxx Xxx
Title: left blank
