EXHIBIT 10-13
BILL OF SALE
FOR GOOD AND VALUABLE CONSIDERATION, the receipt and sufficiency of
which are hereby acknowledged, MO PARTNERS, an Oregon general partnership
(Grantor), hereby assigns, transfers and delivers to XXXX MEDIA CORPORATION, an
Oregon corporation (Grantee), all of Grantor's right, title, and interest in and
to those outdoor advertising structures described on Exhibit A attached to this
Bill of Sale (the Signs).
Grantor warrants that it is the owner of the Signs; that the
Signs are free from all liens, encumbrances and other adverse claims of any
nature except for the lien of the Oregon Laborers Employers Pension Trust Fund,
which lien shall be satisfied on the date Grantee pays Grantor the unpaid
balance of the Promissory Note from Grantee to Grantor of even date herewith;
and that Grantor has the full and unrestricted right to convey the Signs.
DATED: December 31, 1997.
GRANTOR:
MO PARTNERS
Xxxxxxx X.Xxxx, Partner
Xxxxx X. Xxxx, Partner
EXHIBIT A
All of Trustor's interest in the leasehold estates covering the
following real property located in Siskiyou and San Xxxxxxx counties, including,
without limitation, any options or rights of extension or renewal:
Lease Number Market Location Size ill.
9907-0001 Yreka I-5 EL.2 mi. S/Yreka, NF 12 x 48 "I"
9907-0001 Yreka I-5 EL .2 mi. S/Yreka, SF 12 x 48 "I"
9908-0002 Stockton X. Xxxx EL 2000' S/Hammer NF 10 x 24 "I"
9908-0002 Stockton X. Xxxx EL 2000' S/Hammer SF 10 x 24 "I"
9908-0003 Stockton X. Xxxxxxx XX 100' W/Waterloo EF 10 x 24 "I"
9908-0003 Stockton X. Xxxxxxx XX 100' W/ Waterloo WF 10 x 24 "I"
9908-0004 Stockton E. Charter NL 20' W/San Xxxxxxx XX 10 x 24 "I"
9908-0004 Stockton E. Charter NL 20' W/San Joaquin EF 10 x 24 "I"
9908-0006 Stockton E. Charter Way NL 50' W/Ctr WF 10 x 24 "I"
9908-0006 Stockton E. Charter Way NL 50' W/Ctr EF 10 x 24 "I"
9908-0007 Lodi 615 W. Cherokee WL N/Tokay NI; 10 x 24 "I"
9908-0007 Lodi 615 W. Cherokee WL N/Tokay SF 10 x 24 "I"
9908-0008 Stockton 0000 Xxxxxxxx Xx E@Belvedere EF 10 x 24 "I"
9908-0008 Stockton 0000 Xxxxxxxx Xx E@Belvedere WF 10 x 24 "I"
9908-0009 Stockton N. Calif. WL 100' N/Park St SF 10 x 24 "I"
9908-0009 Stockton N. Calif. WL 000' X/Xxxx Xx NF 10 x 24 "I"
9908-0010 StocMon 801 N. Xxxxxx XX @ Xxxxx SF 10 x 24 "I"
9908-0010 Stockton 801 X. Xxxxxx XX @ Xxxxx NF 10 x 24 "I"
9908-0011 Stockton E. Charter SL 106' E/Xxxxx XX 10 x 24 "I"
9908-0011 Stockton E. Charter SL 106' E/Xxxxx XX 10 x 24 "I"
9908-0012 Stockton N. West Lane EL 600' S/Alpine SF 10 x 24 "I"
9908-0012 Stockton N. West Lane EL 600' S/Alpine NF 10 x 24 "I"
9908-0013 Lodi 201 East Xxxxxxxxx XX 10 x 24 "I"
9908-0013 Lodi 201 East Xxxxxxxxx XX 10 x 24 "I"
9908-0016 Xxxxxxxx Xxxx Xxxx XX 00' X/Xxxxx SF 12 x 48 "I"
9908-0016 Stockton West Xxxx XX 20' N/Xxxxx XX 12 x 48 "I"
9908-0017 Stockton PcfAve WL 1SO'S/Xxxx Xxxxx SF 12 x 48 "I"
9908-0017 Stockton Pcf Ave WL 1SO'S/Xxxx Xxxxx NF 12 x 48 "I"
9908-0018 Stockton Xxxx Xxxxx SL 000' X/Xxx Xxx 8 x 16 "I"
9908-0019 Stockton Pacific Ave EL 20' N/Xxxxx XX 14 x 48 "I"
9908-0019 Stockton Pacific Ave EL 20' N/Xxxxx XX 14 x 48 "I"
9909-0013 Fresno US 99 E/L 1700' S/SIIAW NF 14 x 48 "I"
9909-0013 Fresno US 99 E/L 1700' S/XXXX XX 14 x 48 "I"
9202-0034 Xxxxxx X. 11th NL 25' E. COMMERCE WF 8 x 24 "I"
9202-0034 Xxxxxx X. 11th NL 25' E. COMMERCE EF 8 x 24 "I"
ASSIGNMENT OF LEASES
For valuable consideration, the receipt and sufficiency of which
are hereby acknowledged, MO PARTNERS, an Oregon general partnership
("Assignor"), hereby assigns, transfers, and conveys to XXXX MEDIA CORPORATION,
an Oregon corporation ("Assignee"), all of Assignor's right, title, and interest
as tenant under the leases listed on Exhibit A attached hereto (the "Leases").
Assignor hereby warrants to Assignee that (i) true copies of the Leases, and all
amendments thereto, have been delivered to Assignee, and Exhibit A accurately
lists all of the Leases, (ii) no event of default by any party currently exists
under any of the Leases, and (iii) Assignor own the tenant's interest in all of
the Leases, free from all liens, encumbrances, assignments, and security
interests except for the lien ofthe Oregon Laborers - Employers Pension Trust
Fund, which lien shall be satisfied on the date Assignee pays Assignor the
unpaid balance of the Promissory Note from Assignee to Assignor of even date
herewith.
DATED: December 31, 1997.
MO PARTNERS, an Oregon general partnership
Xxxxxxx X. Xxxx, Partner
Xxxxx Xxxx, Partner
EXHIBIT A
All of Trustor's interest in the leasehold estates covering the
following real property located in Siskiyou and San Xxxxxxx counties, including,
without limitation, any options or rights of extension or renewal:
Lease Number Market Location Size ill.
9907-0001 Yreka I-5 EL.2 mi. S/Yreka, NF 12 x 48 "I"
9907-0001 Yreka I-5 EL .2 mi. S/Yreka, SF 12 x 48 "I"
9908-0002 Stockton X. Xxxx EL 2000' S/Hammer NF 10 x 24 "I"
9908-0002 Stockton X. Xxxx EL 2000' S/Hammer SF 10 x 24 "I"
9908-0003 Stockton X. Xxxxxxx XX 100' W/Waterloo EF 10 x 24 "I"
9908-0003 Stockton X. Xxxxxxx XX 100' W/ Waterloo WF 10 x 24 "I"
9908-0004 Stockton E. Charter NL 20' W/San Xxxxxxx XX 10 x 24 "I"
9908-0004 Stockton E. Charter NL 20' W/San Joaquin EF 10 x 24 "I"
9908-0006 Stockton E. Charter Way NL 50' W/Ctr WF 10 x 24 "I"
9908-0006 Stockton E. Charter Way NL 50' W/Ctr EF 10 x 24 "I"
9908-0007 Lodi 615 W. Cherokee WL N/Tokay NI; 10 x 24 "I"
9908-0007 Lodi 615 W. Cherokee WL N/Tokay SF 10 x 24 "I"
9908-0008 Stockton 0000 Xxxxxxxx Xx E@Belvedere EF 10 x 24 "I"
9908-0008 Stockton 0000 Xxxxxxxx Xx E@Belvedere WF 10 x 24 "I"
9908-0009 Stockton N. Calif. WL 100' N/Park St SF 10 x 24 "I"
9908-0009 Stockton N. Calif. WL 000' X/Xxxx Xx NF 10 x 24 "I"
9908-0010 StocMon 801 N. Xxxxxx XX @ Xxxxx SF 10 x 24 "I"
9908-0010 Stockton 801 X. Xxxxxx XX @ Xxxxx NF 10 x 24 "I"
9908-0011 Stockton E. Charter SL 106' E/Xxxxx XX 10 x 24 "I"
9908-0011 Stockton E. Charter SL 106' E/Xxxxx XX 10 x 24 "I"
9908-0012 Stockton N. West Lane EL 600' S/Alpine SF 10 x 24 "I"
9908-0012 Stockton N. West Lane EL 600' S/Alpine NF 10 x 24 "I"
9908-0013 Lodi 201 East Xxxxxxxxx XX 10 x 24 "I"
9908-0013 Lodi 201 East Xxxxxxxxx XX 10 x 24 "I"
9908-0016 Xxxxxxxx Xxxx Xxxx XX 00' X/Xxxxx SF 12 x 48 "I"
9908-0016 Stockton West Xxxx XX 20' N/Xxxxx XX 12 x 48 "I"
9908-0017 Stockton PcfAve WL 1SO'S/Xxxx Xxxxx SF 12 x 48 "I"
9908-0017 Stockton Pcf Ave WL 1SO'S/Xxxx Xxxxx NF 12 x 48 "I"
9908-0018 Stockton Xxxx Xxxxx SL 000' X/Xxx Xxx 8 x 16 "I"
9908-0019 Stockton Pacific Ave EL 20' N/Xxxxx XX 14 x 48 "I"
9908-0019 Stockton Pacific Ave EL 20' N/Xxxxx XX 14 x 48 "I"
9909-0013 Fresno US 99 E/L 1700' S/SIIAW NF 14 x 48 "I"
9909-0013 Fresno US 99 E/L 1700' S/XXXX XX 14 x 48 "I"
9202-0034 Xxxxxx X. 11th NL 25' E. COMMERCE WF 8 x 24 "I"
9202-0034 Xxxxxx X. 11th NL 25' E. COMMERCE EF 8 x 24 "I"
PROMISSORY NOTE
$698,000 December 31, 1997
FOR VALUABLE CONSIDERATION, the receipt and sufficiency of which are
hereby acknowledged, XXxX XXXxX CORPORATION, an Oregon corporation (Maker),
hereby promises to pay to the order of MO PARTNERS, an Oregon general
partnership (Payee) at 0X0X Xxxx Xxxxxx, Xxxxxx, Xxxxxx 00000 or at such other
place as Payee may designate, the sum of Six Hundred Ninety-Eight Thousand
Dollars ($698,000) in lawful money ofthe United States of America, together with
interest at the rate of 9.00 percent per annum.
Time is of the essence ofthis Note and each provision hereof:
Maker shall pay monthly interest-only payments, with the first of such payments
to be paid on or before February 1, 1998 and each subsequent installment to be
paid on or before the first day of each month thereafter until this Note is paid
in full. Maker shall pay Payee the entire unpaid balance of this Note, plus any
accrued interest thereon, on or before April 15, 1998.
This Note is secured by a Deed of Trust and Assignment of Rents on
certain property located in Siskiyou and San Xxxxxxx counties, California (the
Trust Deed), to which reference is hereby made for a description of the nature
and extent of the security thereby and the rights and limitation of nghts of
Payee and of Maker thereunder.
This Note may be prepaid without premium or penalty.
Maker shall be deemed to be in default hereunder if Payee does not
receive any payment required to be made hereby within 15 days of the due date
thereof or if an event of a default occurs under the Trust Deed.
If any legal proceeding is instituted by Xxxxx to collect any sum
payable hereunder, or if Xxxxx appears in any bankruptcy or similar proceeding
with respect to Maker, the prevailing party shall be entitled to have and
recover from the other party all costs, disbursements and reasonable attorney
fees in such proceeding and in any appeal therefrom or review thereof.
This Note shall be binding upon Maker and its successors and
assigns and shall enure to the benefit of Payee and its successors and assigns.
This Note shall be govemed, interpreted and enforced in all
respects in accordance with the substantive laws of the state of Oregon.
XXXX MEDIA CORPORATION, an Oregon corporation
By
Xxxxx X. Xxxx, President and Chief Executive Officer
