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This excerpt taken from the RICK 8-K filed May 14, 2008. Additional
Earnest Money. Commencing
on such date 60 days from the closing and funding of the Asset Purchase
Agreement and continuing each consecutive month thereafter until the Closing (as
hereinafter defined), Purchaser shall deliver as additional earnest
money ("Additional
Earnest Money") to the Title Company each month the amount of Two Hundred
Thousand and No/100 Dollars ($200,000.00) in cash or immediately available funds
until not later than the Closing. Any and all Additional Earnest
Money delivered to the Title Company shall be immediately
non-refundable. If this transaction closes, all Additional Earnest
Money delivered hereunder shall be credited against the Purchase Price at
Closing. In the event that Purchaser does not deliver any portion of
the Additional Earnest Money to Seller as set forth herein and such failure to
deliver continues for a period of five (5) business days thereafter, then this
Agreement may be terminated by either party as its sole remedy for such failure,
and no party shall thereafter have any further obligation to the other
hereunder. 3
ARTICLE
III
SURVEY,
TITLE BINDER, LEASES AND SOIL TESTS
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