AGREEMENT FOR SALE AND PURCHASE OF ASSETSAgreement for Sale and Purchase of Assets • April 10th, 2006 • Local Telecom Systems Inc • Mortgage bankers & loan correspondents • Texas
THIS AGREEMENT (the “Agreement”) is entered into by and among MBI Mortgage, Inc., a Texas corporation (the “Buyer”), L&M Mortgage Investors, Inc., a Texas corporation d/b/a Statewide Mortgage and Lending (the “Seller”), Reynaldo Lerma (“Lerma”) and Keith Morgan(“Morgan”) (Lerma and Morgan are collectively referred to herein as the “Shareholders”) (Seller, Lerma and Morgan are collectively referred to herein as the “Seller Parties”).
SECURITY AGREEMENTSecurity Agreement • April 10th, 2006 • Local Telecom Systems Inc • Mortgage bankers & loan correspondents
THIS SECURITY AGREEMENT is made and entered into by and between CHARTER PRIVATE EQUITY, L.P. whose address is 1845 Woodall Rodgers Freeway, Suite 1700, Dallas, TX 75201 (“Secured Party”), and MBI MORTGAGE, INC. a Texas corporation whose address is 1845 Woodall Rodgers, Suite 1225, Dallas, Texas 75201 (“Debtor”).
LOAN AGREEMENTLoan Agreement • April 10th, 2006 • Local Telecom Systems Inc • Mortgage bankers & loan correspondents
This Loan Agreement (“Agreement”) is entered into by and between MBI Mortgage, Inc. (“Borrower”), a Texas corporation with its principal place of business located at 1845 Woodall Rodgers, Suite 1225, Dallas, Texas 75201, PATRICK A. McGEENEY, whose principal place of business is the same as Borrower (“Guarantor”), and CHARTER PRIVATE EQUITY, L.P. (“Lender”), a Texas limited partnership whose address is 1845 Woodall Rodgers Freeway, Suite 1700, Dallas, Texas 75201.
