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Home My WebLink About0257 3. That this settlement and transfer is not a sale but is a transfer of property by SMIFAM as a debtor to HENSEL as a creditor in complete settlement of all claims that HENSEL may have against SMIFAM and the SMITHS from the beginning of the world to the date of . . ~ this Agreement. 4. That the business ope~ated by SMIF'AM is divisible into two separate divisions, these being (1) grocery and taxable items and (2) fresh and frozen meat and poultry. 5. That the parties are entering into this Agreement with the intent of_ binding themselves, their heirs, successors, assigns, personal representatives, and other unnamed successors in interest. 6. That in complete and total satisfaction of the debt owed by SMIFAM to HENSEL, HENSEL shall accept the grocery and taxable - item inventory, equipment including the fork lifts and three dollies r and sales of grocery and taxable items of the grocery division of SMZFAM as they existed respectively on 8:00 am on February 9, 1978. ; Provided, however, that all additions to inventory and such sales for ; . i and including the dates of February 9, 10, and llth, 1978, shall also ~ ~ be thejproperty of HENSEL except as hereinafter provided. As to any ! ~ _ ~ orders placed for grocery inventory prior to February 9, 1978, but , • ~ ; delivered subsequently through the dates of February 11, 1978, HENSEL i 3 ~ shall have same as his property, but SMIFAM shall be responsible for - ~ x ~ the payment for said orders. Specifically excepted from the property ~ that HENSEL shall receive are the ~nventory, equipment, accounts ~ receivable of the meat division, saw, saw blades, mahogany desk, new ~ ~ cash register, all motor vehicles, cedar chest, stove, two sets of ~ compressors belonging to a firm in Lake Fark and a triple decker meat ; ~ ~ case. SMIFAM shall have as its property any accounts receivable for ~ ' the grocery division accruing prior to 8:00 am on February 9, 1978. ~ . ~ ~ HENSEL shall also receive from SMIFAM the additional sum of $125.00 ~ ~ ~ ' ~ :3 2S ~ ~ ~ ' Fy g3 ~ a a~ p~~ - ~ ~s7 ~ _z- ~ ~ _ _ . :