![]() ![]() The term “Acquired Assets” means the real property owned by FCR comprising approximately 450 acres and the Mineral Rights owned by Vernell, in both cases located at 18075 FM 974, Bryon, Texas 77808 such real property including but not limited to all of FCR’s right, title, and interest in easements, rights of way, and appurtenances related thereto and all of the buildings, structures, improvements, and fixtures located thereon (the “Real Property”) and all of the assets, properties, goodwill and rights that are owned, leased or licensed by Aggieland on the Closing Date and used, held for use or intended to be used in the operation or conduct of the Business, of whatever kind and nature, real, personal or mixed, tangible or intangible, other than the Excluded Assets, including the following (collectively with the Real Property, the “Acquired Assets”): (a)On the terms and subject to the conditions contained in this Agreement, on the Closing Date, Buyer shall purchase, and Seller shall sell, convey, assign, transfer and deliver, free and clear of all Indebtedness and Liens (except for any Permitted Liens), by appropriate instruments of conveyance reasonably satisfactory to Buyer, all of Seller’s right, title and interest as of the Closing Date in the Acquired Assets.ġ.2 Acquired Assets. NOW, THEREFORE, in consideration of the mutual agreements, covenants and other premises set forth in this Agreement, the mutual benefits to be gained by the performance of such agreements, covenants and other premises, and for other good and valuable consideration, the receipt and sufficiency of which are acknowledged and accepted, the parties agree as follows. ![]() ![]() Aggieland owns and operates a wild animal theme park commonly known as Aggieland Safari Adventure Zoo and Safari Park located in Bryan, Texas (the “Park”).ī.FCR owns the real property on which the Park is situated.Ĭ.Vernell owns certain mineral rights on such real property (the "Mineral Rights").ĭ.Subject to the terms and conditions hereinafter set forth, Buyer desires to acquire from Seller, and Seller desires to sell to Buyer, the Park and the real property more specifically referred to herein as the Acquired Assets and the Assumed Liabilities.Į.Capitalized terms used herein but not otherwise defined in the context where they are introduced shall have the meanings ascribed to them in Article X. THIS ASSET PURCHASE AGREEMENT (the “Agreement”) is made and entered into as of April 27, 2020, by and among AggieLand-Parks, Inc., a Texas corporation (“Buyer”), a wholly owned subsidiary of Parks! America, Inc., a Nevada corporation (“Parks”), Aggieland Safari, LLC, a Texas limited liability company (“Aggieland”) and Ferrill Creek Ranch LLC (“FCR”) and Vernell Investments, LLC (“Vernell”) (Vernell, Aggieland and FCR, together, are referred to herein as the “Seller” or the “Sellers”).Ī. ![]()
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |