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AGREEMENT OF PURCHASE AND SALE
Between
GoCall Inc., a delaware Corporation
(hereinafter referred to as "seller")
And
Ontario, Inc.
(hereinafter referred to as "purchaser")
Whereas seller has assets (see schedule "A") located at 0 Xxxxx Xx. and 00 Xxxx
Xx. Xxxx Xxxxxxxxx, Xxxxxxx, Xxxxxx, and part of an operation known as "Go
Internet Cafe".
Whereas the seller has agreed to sell all their assets, goodwill, and interest
in his leases of "Go Internet Cafe" to the purchaser for $40,000 Cdn. Funds.
Whereas the purchaser has agreed to purchase the assets from the seller for
$40,000 subject to certain terms and conditions.
Terms & Conditions;
1. All assets to be sold pursuant to the "Bulk Sales Act".
2. Purchase Price to be $40,000. Appropriation of costs to be
Goodwill $35,000
Inventory $5,000; equipment per attached.
3. Terms of Payment: $25,000 down
$15,000 payable by Dec 31/99
An additional bonus of $10,000 will be due the seller
in the event payment is not rec'd by Dec 3 1/99 with
interest accruing @ a rate of 2%/month on any unpaid
balance.
4. All chattels to be included are listed as per Schedule "A"
5. It is acknowledged by the purchaser that the water softener and the Coca
Cola cooler are leased and they will assume such leases.
6. Seller will assign all rights and outstanding legal claims for interest in
their lease at 0 Xxxxx Xx./00 Xxxx Xx. Xxxxxxxxx.
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The parties hereby agree to the aforementioned terms and conditions this
27th day of November, 1999.
/s/ signature /s/ signature
------------------------- -------------------------
Purchaser Seller
SCHEDULE "A"
Tosiba 32" TV
Sony 20" TV
17 Computers
printer
cash register
telephone system
refridgerators
freezers
stereo system
satellite tv system
9 tables
40 chairs
3 couches
dishwasher
microwave
all kitchen supplies
expresso machine
washer/dryer
office supplies
Liquor/wine/beer inventory
Filing cabinet
desk
