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Tranzon Driggers Walter J. Driggers, III, Lic. Real Estate Broker FL Lic# AU707 & AB3145 Sealed Bid Package Property #: DG802 • Case #: 8:13-bk-16906-MGW 7922 Buckeye Rd. Palmetto, FL 34221 A complete Sealed Bid Package must include the following items: 1. Executed Agreement for Purchase and Sale of Property with your bid information 2. Relevant background and financial information demonstrating Bidder’s financial ability to close and to consummate an acquisition of the property 3. Bid Deposit, $100,000 cashier’s check or wire transfer made payable to the escrow agent, Stichter, Riedel, Blain & Prosser, P.A. ** wiring instructions and a Microsoft Word version of the purchase agreement are available upon request ** Sealed Bids must be received by Stichter, Riedel, Blain & Prosser, P.A. before June 20, 2014 at 5 pm ET. Sealed bids must be sent to: Attn: Edward Peterson, III, Esquire Stichter, Riedel, Blain & Prosser, P.A. 110 East Madison St., Suite 200 Tampa, FL 33602 Email: [email protected] Incomplete sealed bid packages will not be accepted. The best and final auction will be conducted June 24, 2014 at 11 am ET at the office of Stichter, Riedel, Blain & Prosser, P.A. You must be present to participate in the best and final auction. Bid deposits of any bidder who is not selected as having the highest and best offer at the sale hearing will be returned within five (5) days following the entry of the sale order.

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Page 1: DG802 Sealed Bid Package Support · 2014-06-17 · Court granting Debtor’s Motion for Entry of an Order (I) ... investigative or informal) commenced, brought, conducted, or heard

!!!Tranzon Driggers

Walter J. Driggers, III, Lic. Real Estate Broker FL Lic# AU707 & AB3145 !!!

Sealed Bid Package Property #: DG802 • Case #: 8:13-bk-16906-MGW

7922 Buckeye Rd. Palmetto, FL 34221 !

A complete Sealed Bid Package must include the following items: !1. Executed Agreement for Purchase and Sale of Property with your bid

information

2. Relevant background and financial information demonstrating Bidder’s financial ability to close and to consummate an acquisition of the property

3. Bid Deposit, $100,000 cashier’s check or wire transfer made payable to the escrow agent, Stichter, Riedel, Blain & Prosser, P.A.

!** wiring instructions and a Microsoft Word version of the purchase agreement are available upon request ** !Sealed Bids must be received by Stichter, Riedel, Blain & Prosser, P.A. before June 20, 2014 at 5 pm ET. Sealed bids must be sent to: !Attn: Edward Peterson, III, Esquire Stichter, Riedel, Blain & Prosser, P.A. 110 East Madison St., Suite 200 Tampa, FL 33602 Email: [email protected] !Incomplete sealed bid packages will not be accepted. !The best and final auction will be conducted June 24, 2014 at 11 am ET at the office of Stichter, Riedel, Blain & Prosser, P.A. You must be present to participate in the best and final auction. Bid deposits of any bidder who is not selected as having the highest and best offer at the sale hearing will be returned within five (5) days following the entry of the sale order.

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AGREEMENT FOR PURCHASE AND SALE OF PROPERTY

THIS AGREEMENT FOR PURCHASE AND SALE OF PROPERTY (this “Agreement”) is made this _____ day of _______, 2014, by Chamax, LLC, a Florida limited liability company (“Seller” or “Debtor”), and _______________________________ (“Purchaser”), for the purchase of the real property more particularly described on Exhibit “A” attached hereto (the “Real Property”), upon the conditions and terms as follows:

RECITALS:

WHEREAS, on December 31, 2013 (the “Petition Date”), Seller commenced a voluntary case for reorganization under Chapter 11 of Title 11 of the United States Code, 11 U.S.C. §§ 101 et seq. (the “Bankruptcy Code”), in the United States Bankruptcy Court for the Middle District of Florida, Tampa Division (the “Bankruptcy Court”), which case was assigned Case Number 8:13-bk-16906-MGW (the “Bankruptcy Case”);

WHEREAS, since the Petition Date, Seller has been in possession of its assets and in control of its business operations as a debtor in possession pursuant to the applicable provisions of the Bankruptcy Code;

WHEREAS, on February 4, 2014, Seller filed in the Bankruptcy Case its Plan of Reorganization Under Chapter 11 of Title 11, United States Code (Doc. No. 34) (the “Plan”);

WHEREAS, Seller desires to sell to Purchaser, and Purchaser desires to purchase from Seller, the Real Property on the terms and conditions set forth in this Agreement and in accordance with §§ 105 and 363 and other applicable provisions of the Bankruptcy Code (the “Sale”);

WHEREAS, Bankruptcy Court approval is required to consummate the Sale;

WHEREAS, the Real Property is to be purchased by Purchaser pursuant to an order of the Bankruptcy Court approving the Sale (the “Approval Order”) pursuant to §§ 105 and 363 of the Bankruptcy Code and applicable Federal Rules of Bankruptcy Procedure;

WHEREAS, the Purchaser has made a good faith deposit in immediately available funds in the amount of One Hundred Thousand and 00/100 Dollars ($100,000.00) (the “Deposit”) to be held in accordance with the terms of an order (the “Bid Procedures Order”) of the Bankruptcy Court granting Debtor’s Motion for Entry of an Order (I) Approving Bidding Procedures in Connection with the Sale of Certain Real Property Free and Clear of Liens, Claims and Encumbrances, (II) Approving Minimum Overbid Amount, (III) Approving Form and Manner of Notice of Bidding Procedures, (IV) Setting Objection Deadlines, and (V) Request for Expedited Hearing (Doc. No. 57).

NOW, THEREFORE, for good and valuable consideration, the receipt and adequacy of which is hereby acknowledged and intending to be legally bound hereby:

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ARTICLE I DEFINITIONS; RULES OF CONSTRUCTION

Section 1.1 Definitions. For purposes of this Agreement, the following terms

(which appear in this Agreement as capitalized terms) shall have the meanings set forth below:

“Closing” shall mean the events which take place on the Closing Date for the purpose of consummating the transactions contemplated by this Agreement.

“Closing Date” shall mean the date which is a business day following the date the Approval Order becomes a final order, unless otherwise agreed to by the Parties provided that all of the Conditions Precedent to Closing as specified in Article VIII and IX herein have been satisfied or waived by the appropriate Party.

“Governmental Authority” shall mean any and all, federal, state or local governments, governmental institutions, public authorities and governmental entities of any nature whatsoever, and any subdivisions or instrumentalities thereof, including, but not limited to, departments, boards, bureaus, commissions, agencies, courts, administrations and panels, and any divisions or instrumentalities thereof, whether permanent or ad hoc and whether now or hereafter constituted or existing.

“Governmental Requirement” shall mean any and all laws (including, but not limited to, applicable common law principles), statutes, ordinances, codes, rules, regulations, interpretations, guidelines, directions, orders, judgments, writs, injunctions, decrees, decisions or similar items or pronouncements, promulgated, issued, passed or set forth by any Governmental Authority.

“Law” shall mean any decree, injunction, judgment, order, ruling, assessment or writ or any constitutional provision, statute or other law, rule, regulation, ordinance or interpretation of any government or any agency, bureau, board, commission, court, department, official, political subdivision, tribunal or other instrumentality of any government, whether federal, state or local, domestic or foreign.

“Party” shall mean, individually, Purchaser or Seller, and “Parties” means the Purchaser and Seller together.

“Person” shall mean any natural person, corporation, division of a corporation, partnership, limited liability company, trust, joint venture, association, company, estate, unincorporated organization or government or any agency or political subdivision thereof.

“Proceeding” shall mean any action, arbitration, audit, hearing, investigation, litigation or suit (whether civil, criminal, administrative, investigative or informal) commenced, brought, conducted, or heard by or before, or otherwise involving, any Governmental Authority or arbitrator.

“Tax” and “Taxes” shall mean any and all income, sales, property, license, excise, franchise or other taxes and all other charges or fees imposed or collected by any Governmental

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Authority or pursuant to any Governmental Requirement, and shall also include any and all penalties, interest, deficiencies, assessments and other charges with respect thereto.

“Transfer Taxes” means any and all sales, use, real property transfer, recording, documentary, stamp, registration, or other transfer Taxes payable by reason of the transfer and conveyance of the Real Property to the Purchaser hereunder to the extent due and owing.

Section 1.2 Construction.

For purposes of this Agreement:

(a) Whenever the context requires, the singular number will include the plural, and vice versa, the masculine gender will include the feminine and neuter genders, the feminine gender will include the masculine and neuter genders, and the neuter gender will include masculine and feminine genders.

(b) The words “include” and “including,” and variations thereof, will not be deemed to be terms of limitation, but rather will be deemed to be followed by the words “without limitation.”

(c) Except as otherwise indicated, all references in this Agreement to “Schedules,” “Sections,” “Articles” and “Exhibits” are intended to refer to Schedules, Sections, Articles and Exhibits to this Agreement.

(d) The terms “hereof,” “hereunder,” “herein” and words of similar import will refer to this Agreement as a whole and not to any particular provision of this Agreement.

ARTICLE II PURCHASE AND SALE OF REAL PROPERTY

Section 2.1 Purchase of the Real Property. Upon the terms and subject to the conditions set forth herein and in the Approval Order, at Closing, Seller shall sell, transfer, assign, convey, and deliver to Purchaser, and Purchaser shall purchase, acquire and accept from Seller, all of Seller’s right, title and interest in and to the Real Property, “as is,” “where is” and with “all faults” and free and clear of all liens, claims, and encumbrances except for the Permitted Exceptions (as defined herein).

Section 2.2 Assumption of Liabilities. As of the Closing, Purchaser hereby agrees to assume the payment and performance of the following liabilities and obligations of Seller (collectively, the “Assumed Liabilities”):

(a) Any and all Closing Costs (as defined herein); and

(b) Those additional Assumed Liabilities as set forth in Schedule 2.2 attached hereto.

Section 2.3 Excluded Liabilities. Except for the Assumed Liabilities, the Purchaser shall not assume, take subject to or be liable for any liabilities or obligations of any

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kind or nature, whether absolute, contingent, accrued, known or unknown, of the Seller (the “Excluded Liabilities”), except for those Excluded Liabilities set forth in Schedule 2.3 attached hereto.

ARTICLE III

PURCHASE PRICE

Section 3.1 Purchase Price. In consideration of and in full payment for the purchase of the Real Property and subject to the provisions of this Agreement, Purchaser shall pay to Seller the sum of ____________________ dollars and 00/100 cents ($______________.00) (the “Purchase Price”).

Section 3.2 Payment of Purchase Price. Purchaser shall pay the Purchase Price to Seller as follows:

(a) Purchaser, upon execution of this Agreement, shall pay to Seller the Deposit by wire transfer of immediately available funds to the account of Seller’s counsel to be held in escrow pending the Closing. The Deposit shall be non-refundable, except as provided in the Bid Procedures Order; and

(b) At Closing, Purchaser shall pay to Seller an amount equal to (a) the Purchase Price less (b) the Deposit, by wire transfer of good and immediately available funds to the account as specifically designated by Seller’s counsel. Notwithstanding anything contained to the contrary herein, payment by Purchaser of the Purchase Price, entry of the Approval Order in the Bankruptcy Case and delivery to Seller of those certain items set forth in Section 4.4 herein below shall be a condition precedent to Seller’s obligation to close.

Section 3.3 No Financing. There is no financing contingency necessary to the consummation of the Sale on the part of Purchaser.

Section 3.4 Closing Statement.

(a) Seller shall prepare and shall deliver to Purchaser not less than five (5) Business Days prior to the Closing Date a closing statement (the “Closing Statement”) related to the Sale.

(b) Purchaser agrees that there shall be no proration of any customary Closing Costs and no Purchase Price adjustments. Purchaser shall be solely responsible for any and all Closing Costs.

(c) Seller agrees to convey title to the Real Property to Purchaser at Closing by the Deed (as defined herein), “as is,” “where is” and with “all faults” and free and clear of all encumbrances, assessments or liens, except: property taxes, easements and reservations of record, covenants and restrictions of record, and any other title exceptions (collectively, the “Permitted Exceptions”).

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(d) Purchaser shall be responsible for payment of the commission of Soldnow, LLC d/b/a Tranzon Driggers pursuant to the terms of written agreement as approved by the Bankruptcy Court.

(e) Purchaser shall be responsible for any and all closing costs, including any and all costs associated with issuance of a title insurance policy, any applicable state or federal taxes, placement of the required documentary stamps on the deed (if any), recording costs, as well as any other closing costs required at settlement or to consummate the Sale (collectively, the “Closing Costs”).

Section 3.5 Further Assurances. Purchaser and Seller each shall execute and deliver or cause to be executed and delivered to the other, at Closing and both pre-Closing and post-Closing, such further instruments, documents, and conveyances in a form satisfactory to each of Purchaser’s and Seller’s respective counsel, and shall take such other action as may be reasonably necessary to more effectively carry out the terms and provisions of this Agreement.

ARTICLE IV

CLOSING

Section 4.1 Closing. The Closing shall take place at the offices of Stichter Riedel Blain & Prosser, P.A., 110 East Madison Street, Suite 200, Tampa, Florida 33602, at 10:00 a.m. local time on the Closing Date. The Closing shall be deemed to occur at 12:01 a.m. Eastern Standard Time, on the Closing Date (the “Effective Time”).

Section 4.2 Bankruptcy Court Approval. The Sale is subject to Bankruptcy Court approval and is to be consummated in accordance with the Bid Procedures Order and the Approval Order.

Section 4.3 Actions of Seller at Closing. At the Closing and unless otherwise waived in writing by Purchaser, Seller shall deliver to Purchaser the following:

(a) A quit claim deed or deeds in recordable form dated as of the Closing Date (collectively, the “Deed”), conveying to Purchaser or Purchaser 's designee good and marketable title to the Real Property owned by Seller in fee simple, free and clear of any lien, easement, restriction of record, including any use restriction, or other encumbrance, except for the Permitted Encumbrances, duly executed by Seller;

(b) The Approval Order, which shall be a final order, and shall release all liens (other than the Permitted Encumbrances) encumbering the Real Property;

(c) A non-foreign affidavit dated as of the Closing Date, sworn under penalty of perjury and in form and substance required under the Treasury Regulations issued pursuant to § 1145 of the Code stating that Seller is not a “foreign person” as defined in § 1145 of the Code;

(d) The Closing Statement; and

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(e) Such other instruments and documents as Purchaser reasonably deems necessary to effect the transactions contemplated hereby, which Purchaser will make its best efforts to provide to Seller no later than five (5) days prior to Closing.

4.4 Actions of Purchaser at Closing. At the Closing and unless otherwise waived in writing by Seller, Purchaser shall deliver to Seller the following:

(a) The balance of the Purchase Price via wire transfer of immediately available funds to the account of the Seller’s counsel;

(b) The Closing Statement, duly executed by Purchaser; and

(c) Such other instruments and documents as Seller reasonably deems necessary to effect the transactions contemplated hereby, which Seller will make its best efforts to provide to five (5) days prior to Closing.

Section 4.5 Section 1146(a) Exemption. The transfer of the Real Property, as contemplated by this Agreement, shall be accomplished pursuant to and in contemplation of the Plan. As a result thereof, pursuant to § 1146(a) of the Bankruptcy Code, the transfer of the Real Property hereunder is not subject to state transfer taxes, including, without limitation, documentary stamp taxes. The parties agree to include a provision in all instruments transferring title to the Real Property which restates the exemption provided by § 1146(a) of the Bankruptcy Code.

ARTICLE V

SELLER'S REPRESENTATIONS AND WARRANTIES

Except as expressly set forth herein, the Real Property is sold as is without representation or warranty of any kind except as expressly stated herein. Seller hereby represents and warrants to Purchaser as follows, in each case as of the date of this Agreement and of the Closing Date:

Section 5.1 Authorization; Enforceability. Seller has good and marketable title to the Real Property and subject to the entry of the Approval Order, Seller has all requisite corporate power and authority to execute, deliver and perform this Agreement and to consummate the transactions contemplated hereby. The execution, delivery and performance of this Agreement by Seller and the consummation of the transactions contemplated hereby have been duly and validly authorized by all necessary action on the part of Seller. This Agreement has been duly executed and delivered by Seller and, subject to the entry of the Approval Order, constitutes the valid and binding legal obligation of Seller enforceable in accordance with its terms and conditions.

Section 5.2 No Other Representations or Warranties. Purchaser acknowledges that Seller is a debtor in possession in the Bankruptcy Case and that, except as expressly set forth herein, Seller has not made any warranties or representations concerning the Real Property or any component thereof, including, without limitation, the operation of or the costs or results of the operation thereof; the condition of the Real Property or any improvements thereto; the zoning

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or other land use restrictions affecting the Real Property; the compliance of the Real Property or any part thereof with any governmental requirement; the use or existence or prior use or existence of hazardous material on the Real Property; or the accuracy or completeness of any statement or other matter previously disclosed to Purchaser. Purchaser represents that it is purchasing the Real Property in an “AS-IS, WHERE-IS” condition, Purchaser having made (or having had the opportunity to make prior to the date of this Agreement) its own inspection and examination of the Real Property and all components thereof. EXCEPT AS SPECIFICALLY PROVIDED FOR HEREIN, THERE ARE NO EXPRESS OR IMPLIED WARRANTIES GIVEN TO PURCHASER IN CONNECTION WITH THE SALE OF THE REAL PROPERTY. SELLER HEREBY DISCLAIMS ANY AND ALL WARRANTIES OF MERCHANTABILITY, HABITABILITY, AND FITNESS THAT MAY BE DUE FROM SELLER TO PURCHASER. NOTWITHSTANDING ANYTHING TO THE CONTRARY CONTAINED HEREIN, THIS SECTION SHALL SURVIVE THE CLOSING.

ARTICLE VI

PURCHASER'S REPRESENTATIONS AND WARRANTIES

Purchaser hereby represents and warrants to Seller as follows, in each case as of the date of this Agreement and as of the Closing Date:

Section 6.1 Corporate Organization; Good Standing; Power. Purchaser is a corporation duly organized, validly existing and in good standing under the laws of the State of Florida, and has all requisite power and authority, corporate or otherwise, to own or lease its properties and to carry on its business as it is now being conducted.

Section 6.2 Authorization; Enforceability. Purchaser has all requisite corporate power and authority to execute, deliver and perform this Agreement and to consummate the transactions contemplated hereby. The execution, delivery and performance of this Agreement by Purchaser and the consummation of the transactions contemplated hereby have been duly and validly authorized by all necessary action on the part of Purchaser. This Agreement has been duly executed and delivered by Purchaser and constitutes the valid and binding legal obligation of Purchaser enforceable in accordance with its terms and conditions.

Section 6.3 Conflicts with Other Agreements. Neither the execution and/or the delivery of this Agreement nor the consummation of the Sale and other transactions contemplated hereunder will conflict with or result in a breach of, any of the terms and conditions or provisions of any law or any regulation, order, writ, injunction, or decree of any court of competent jurisdiction or governmental instrumentality or the Articles of Incorporation or By-Laws of Purchaser, or of any agreement or other instrument to which Purchaser is bound.

Section 6.4 Brokers. No person or entity is entitled to any brokerage or finder's fee or commission or other like payment in connection with the transaction contemplated hereby, based on agreements, understandings or arrangements with the Purchaser or with any of the Purchaser's shareholders or employees.

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Section 6.5 Approval Order. Anything to the contrary contained herein notwithstanding, Purchaser acknowledges that: (a) Seller is a debtor in possession in the Bankruptcy Case and (b) all of Seller’s obligations contained herein are subject to the Approval Order.

Section 6.6 No Litigation. There is no litigation presently pending against Purchaser, or to the Purchaser’s knowledge, threatened against Purchaser the effect of which would prevent Purchaser from consummating the transactions contemplated by this Agreement.

ARTICLE VII COVENANTS

Section 7.1 Inspection of Real Property. Purchaser, its agents, employees,

representatives and independent contractors, have inspected or caused to be inspected fully and completely the Real Property. Purchaser hereby acknowledges that said inspections have been solely in connection with the transaction contemplated by this Agreement and for no other purpose whatsoever. Purchaser represents and warrants that the information, and all other information of Seller received by it and/or its agents, employees, representatives, and/or independent contractors are confidential and proprietary to Seller and have not been disclosed to any third parties (other than agents, employees, representatives, and/or independent contractors of Purchaser in connection with this transaction).

Section 7.2 Cooperation on Seeking Entry of Approval Order. Purchaser agrees to cooperate with and assist Seller in seeking entry of the Approval Order by the Bankruptcy Court, including attending all hearings on any motion of Seller in the Bankruptcy Case seeking entry of the Approval Order and making its representatives available to testify in connection therewith.

ARTICLE VIII

CONDITIONS PRECEDENT TO CLOSING

Section 8.1 Conditions Precedent to the Obligations of Seller and Purchaser. The respective obligations of Purchaser, on the one hand, and Seller, on the other hand, to close under this Agreement shall be subject to the satisfaction at or prior to the Closing Date of the following conditions:

(a) Approval Order. The Bankruptcy Court shall have entered the Approval Order, which shall approve this Agreement and authorize Seller to consummate the transactions contemplated hereby.

(b) No Injunction. No preliminary or permanent injunction or other order issued by, and no proceeding or order by or before, any governmental entity in the United States or by any United States governmental entity nor any law or order promulgated or enacted by any United States governmental entity shall be in effect or pending which materially delays, restrains, enjoins or otherwise prohibits or seeks to restrain, enjoin or otherwise prohibit this Agreement or the transactions contemplated hereby.

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Section 8.2 Conditions Precedent to Obligations of Purchaser. Purchaser shall not be obligated to consummate the transactions contemplated hereunder unless the following conditions are performed to the satisfaction of Purchaser by Closing:

(a) The representations and warranties of Seller contained in Article V herein shall be true and correct in all material respects on and as of the Closing Date, with the same force and effect as though such representations and warranties had been made on and as of the Closing Date, except to the extent that any such representation or warranty is made as of a specified date, in which case such representation or warranty shall have been true and correct as of such date.

(b) The execution and delivery by Seller of this Agreement and of all other documents or instruments contemplated hereby, other than those documents and instruments to be executed and delivered at Closing, and the performance of Seller's obligations hereunder and thereunder, shall have been duly authorized by all necessary corporate action required to be taken by the Seller.

(c) Seller shall have delivered or caused to be delivered all other documents, resolutions, certificates or declarations as Purchaser may reasonably request and are necessary to consummate the transactions contemplated herein.

Section 8.3 Conditions Precedent to Obligations of Seller. Seller shall not be obligated to consummate the transactions contemplated hereunder unless the following conditions are performed to the satisfaction of Seller prior to or at Closing:

(a) The representations and warranties of Purchaser contained herein shall be true and correct in all material respects on and as of the Closing Date, with the same force and effect as though such representations and warranties had been made on and as of the Closing Date, except to the extent that any such representation or warranty is made as of a specified date, in which case such representation or warranty shall have been true and correct as of such date;

(b) Purchaser has complied with all covenants and agreements contained in this Agreement;

(c) The execution and delivery by Purchaser of this Agreement and of all other documents or instruments contemplated hereby, other than those documents and instruments to be executed and delivered at Closing, and the performance of Purchaser's obligations hereunder and thereunder, shall have been duly authorized by all necessary corporate action required to be taken by the Purchaser;

(d) Except for entry of the Approval Order by the Bankruptcy Court, no notice to or consent, authorization, approval or order of any Person shall be required for the consummation of the transactions contemplated by this Agreement (except for notices that have been duly and timely given and consents, authorizations and approvals that have been obtained). True and correct copies of all required notices, consents, authorizations and approvals from all Persons whose waiver, consent or approval is required to consummate the transactions contemplated by this Agreement shall have been delivered to Seller and shall be satisfactory in form and substance to Seller and its counsel.

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ARTICLE IX

TERMINATION AND WAIVER

Section 9.1 Termination. Notwithstanding anything contained herein to the contrary, this Agreement may be terminated: (a) on or prior to the Closing Date by mutual consent of Purchaser and Seller; (b) by Purchaser if by the Closing Date, any of the conditions specified in Article VIII of this Agreement to Purchaser’s obligation to close has not been satisfied and shall not have been waived by Purchaser; (c) by Seller if by the Closing Date, any of the conditions specified in Article VIII of this Agreement to Seller’s obligation to close has not been satisfied and shall not have been waived by Seller; or (d) by Seller, if Seller accepts and the Bankruptcy Court approves the sale of the Real Property from Seller to another purchaser in accordance with the terms and conditions of the Bid Procedures Order and the Approval Order (a “Higher Auction Transaction”). Termination of this Agreement by a Party shall not preclude the terminating Party from seeking remedies related to the breach of a representation, warranty or covenant contained in this Agreement. Notwithstanding anything to the contrary contained in this Agreement, the Deposit shall only be repayable or refundable to Purchaser if (i) the Approval Order is not entered in the Bankruptcy Case; (ii) Seller accepts and the Bankruptcy Court approves a Higher Auction Transaction; or (iii) even if a Higher Auction Transaction does not close, if the Agreement is terminated pursuant to (a) or (b) above.

Section 9.2 Waiver of Conditions by Purchaser. Purchaser may at its sole option elect to waive in writing any condition precedent to Closing set forth in Article VIII which has not been satisfied at Closing and proceed to effect Closing, in which event Seller shall not be liable to Purchaser with respect to the failure of such waived condition.

Section 9.3 Waiver of Conditions by Seller. Seller may at its sole option elect to waive in writing any condition precedent to Closing set forth in Article VIII which has not been satisfied at Closing and proceed to effect Closing, in which event Purchaser shall not be liable to Seller with respect to the failure of such waived condition.

ARTICLE X GENERAL PROVISIONS

Section 10.1 Notices. Any notices, requests, demands, or other communications

hereunder shall be in writing and shall be deemed to have been duly given when personally delivered or when mailed by United States mail, first-class, registered or certified, return receipt requested, postage prepaid, to the following addresses:

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If to Seller:

Chamax, LLC c/o Edward J. Peterson, Esquire STICHTER RIEDEL BLAIN & PROSSER, P.A. 110 East Madison Street - Suite 200 Tampa, Florida 33602

If to Purchaser: _____

With a copy to: _____

or to such other address as either party may specify in writing to the other from time to time.

Section 10.2 Expenses. Each party shall be required to pay its own costs, fees and expenses in connection with the transaction contemplated hereby, including expenses of its counsel and accountants and due diligence fees, even in the event that the transactions which are the subject matter hereof are not consummated for any reason whatsoever. If any party brings an action or proceeding to enforce or declare its rights under the terms of this Agreement, the prevailing party in such proceeding shall be entitled to attorneys’ fees and costs, including, without limitation, fees on appeal, whether or not such action or proceeding is pursued to decision or judgment.

Section 10.3 Governing Law. This Agreement shall be governed and construed in accordance with the laws of the State of Florida without regard to any presumption or other rule of law regarding construction thereof or construing the same against the party causing this Agreement to be drafted.

Section 10.4 Exclusive Jurisdiction. Without limiting any party’s right to appeal any order of the Bankruptcy Court, (a) the Bankruptcy Court shall retain exclusive jurisdiction to enforce the terms connected with, this Agreement, any breach or default hereunder, or the transactions contemplated hereby, and (b) any and all claims, actions, causes of action, suits and proceedings related to the foregoing shall be filed and maintained only in the Bankruptcy Court, and the parties hereby consent to and submit to the jurisdiction and venue of the Bankruptcy Court and shall receive notices at such locations as indicated in Section 10.1 hereof. The Parties hereby consent to the jurisdiction of the Bankruptcy Court for any action or proceeding arising from or relating to this Agreement.

Section 10.5 Successors And Assigns. This Agreement shall be binding upon and inure to the benefit of the Parties hereto and their respective successors and permitted assigns,

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provided, however, that this Agreement is not assignable by either Party without the prior written consent of the other Party thereto.

Section 10.6 Further Assurances. At any time from time to time after the Closing, upon reasonable request of the other, each Party shall do, execute, acknowledge and deliver such further acts, assignments, transfers, conveyances and assurances as may be reasonably required for the more complete consummation of the transactions contemplated herein.

Section 10.7 Captions. The captions used herein are for convenience and reference only and shall not be deemed to modify or construe any of the provisions herein.

Section 10.8 Severability. In the event any term or provision of this Agreement, or the application thereof, to any extent is held by any court of competent jurisdiction to be invalid, illegal, or unenforceable for any reason whatsoever, the remainder of this Agreement, or the application of such term or provision to circumstances other than those to which it is held invalid, illegal or unenforceable, shall not be affected thereby, and each term or provision of this Agreement shall be valid and enforced to the fullest extent permitted by law.

Section 10.9 Time. Time is of the essence in the performance of the obligations of the Parties hereunder.

Section 10.10 Counterparts. This Agreement may be executed in one or more counterparts, each of which shall be deemed to be an original, but all of which together shall constitute one and the same instrument.

Section 10.11 Preparation of Agreement. The Parties hereby acknowledge that they have been adequately represented and advised by legal counsel with respect to this Agreement and the transactions contemplated hereby, and no presumption shall be made that any provision of this Agreement shall be construed against either Party by reason of such role in the drafting of this Agreement and any other agreement contemplated hereby.

Section 10.12 Entire Agreement; Amendment; Waiver. This Agreement contains the entire agreement and understanding by and between Purchaser and Seller with respect to the matters contained herein, and no representations, promises, agreements, or understandings, written or oral, not herein contained shall be of any force or effect. No change or modification hereof shall be valid or binding unless the same is in writing and signed by each of the Parties hereto. No valid waiver of any provision of this Agreement at any time shall be deemed a waiver of any other provision of this Agreement at such time or will be deemed a valid waiver of such provision at any other time.

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13

IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be executed

under seal the day and year first above written.

SELLER WITNESSES: CHAMAX, LLC

a Florida limited liability corporation By: Print Name: Print Name:

Its: Print Name:

PURCHASER WITNESSES: By: Print Name: Print Name:

Its: Print Name:

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EXHIBIT A

The Real Property

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SCHEDULE 2.2

Assumed Liabilities

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SCHEDULE 2.3

Excluded Liabilities