HomeMy WebLinkAbout1738 ing BEST WESTERN EXECUTIVE INN, and has passed all neces-
sary corporate resolutions for said purchase.
3. SELLER covenants and agrees that all real and
personal property taxes due and payable have been paid.
SELLER further covenenats and agrees that all state and
federal taxes, all sales taxes, all social security,
withholding, unemployment or any and all other taxes of '
whatsoever kind and whatsoever nature incurred by the
SELLER arising out of the use and operation of the
PROPERTY except personal income taxes, to and including
October 10, 1980, have been paid or a sufficient sum of
money has been placed in the Trust Account of Frank
Newman, attorney for SELLER, to pay said amounts, and
SELLER agrees to hold harmless and indemnify BUYER from
any such local, state or federal taxes of whatsoever kind
and whatsoever nature arising out of the operation of
said business to and including October 9, 1980. J
4. SELLER covenants and agrePS that there are no
employee wages, vacation or sick leave remaining unpaid
or due subsequent to October 8, 1980; and further agrees
~ that there is no injury or other liability to any
employee which could invoke liability upon the BUYER; and
SELLER agrees to hold BUYER harmless from any and all
such liability occurring. prior to October g, 1980.
5. SELLER covenants and agrees to hold BUYER harm-
less and indemnity it from any and all liability to any }
motel guest or any licensees, invitees or trespassers on
said premises prior to October 8, 1980.
b. SELLER covenants and agrees that there are no
leases, mortgages or contracts which could impose any
~ liability whatsoever upon BUYER, except as attached as ;
Exhibit "B" or set forth in the DEED or ,BILL OF SALE.
7. SELLER covenants and agrees that all utility
bills have been paid or a sufficient amount to make said
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