Document:

Contract for the Purchase and Sale of a Business

  Contract for the Purchase and Sale of a Business
 

 

 1.  Sue H & Kay H Cho, Wife & Husband  [hereinafter “Buyers”] agree to purchase from City Laundry Services, LLC, Ephren W Taylor [hereinafter “Sellers”] the business assets, including all equipment, fixtures, goodwill, inventory, trademarks, trade names and leasehold rights, known as:39th St Laundromat and located at: 1716 W 39th St, Kansas City, MO  64111. 
 

 2.  The purchase price of Twenty Thousand Dollars ($20,000.00) shall be paid as follows: 
 

 $2,000.00 deposit paid to Block Real Estate Services, LLC  the date of this fully executed Agreement  to be applied to purchase price at closing.

 $18,000.00 Balance of said purchase price paid via Cashiers Check on November 30, 2009.
 See “Contingencies to Purchase Offer” (Attached)
 

 $20,000.00 Total Purchase Price
  
 3.  The closing shall take place at 10:00 o’clock A.M. on November 30,2009 at the office of Block Real Estate Services, LLC.

  
 4.  There will be no closing cost.
 

 5.  The full purchase price shall include assets valued at $15,000.00, which are itemized in the document attached hereto and titled “Agreement to Allocate Purchase Price”.

  
 6.  The Sellers warrant that at the time physical possession of the business is delivered to the Buyers, all the equipment will be in AS IS condition and that the premises of said business will pass all inspections necessary to conduct the business.

  
 7.  The Buyers and Sellers agree to execute all documents necessary to conclude this transaction, including, where applicable, assignments of leases, contracts, licenses, operating agreements or other such documents necessary to fulfill the parties’ intent.

 8.  This Purchase Agreement is contingent upon the terms and conditions contained in the document attached hereto and titled “Contingencies” to Purchase Agreement Date: 

 9.  This Purchase Agreement is further conditioned upon the terms and conditions contained in the document attached hereto and titled “Additional Considerations of Purchase Agreement Dated:

  
 10.  This document and the attachments hereto contain the entire understanding of the parties and there are no additional oral agreements, understandings or representations relied upon by the parties.  Any modifications must be in writing and signed by all parties.

  
 11.  The Sellers are not aware of any claims, litigation or governmental investigations affecting the operation of the business or any assets being sold.  Instruments of sales, assignments and deliveries to be made to Buyer shall be effected by a Bill of Sale and other instrument of transfer as maybe necessary and which are satisfactory to Buyer.
 

 12.  The Sellers shall be reimbursed at closing for any security deposits or future rents which have been paid by Sellers prior to closing.

  
 13.  All the taxes (MO sales tax and county business property tax) must be paid by Seller, or reimburse to Buyer prior to closing this transaction.  Seller must bring “a certificate stating that no taxes are due” to Buyer, prior to closing.
 

 14.  In case any litigation is necessary to collect any sum due the Broker, the Sellers agree to pay the expenses incurred by the Broker in connection with such suit.

 

 
 15.  If the Sellers fail to accept this agreement on presentation, then the Buyers may revoke this agreement.
 

 16.  Indemnity.  In pursuing its duties, Broker relies on the accuracy of information supplied by the Seller/Landlord and the Buyer/Tenant.  Broker assumes no responsibility for accuracy of such information or for errors or omissions.  Seller/Landlord agrees to defend, indemnify and hold harmless Broker and the Broker’s affiliates and their agents, partners, officers, directors, contractors and advisors against any damages, losses, claims, liabilities and/or lawsuits to which any of them may become subject in connection with services rendered herein, this Agreement or caused or alleged to be caused by the acts or omissions of Seller/Landlord, including payment of all reasonable attorneys’ fees and litigation expenses incurred by them arising from or in connection with any action or claim made in connection therewith, whether or not resulting in any liability, except in such case where loss, claim, damage or liability arises from the gross negligence or willful misfeasance by Broker in performing services hereunder.  Provisions of this Section shall indefinitely survive termination or expiration of this Agreement.  It is understood that Broker will not give legal, accounting, tax, investment or securities advice, and that Seller/Landlord is to utilize separate counsel for such guidance.

  
 ALL DEPOSITS SHALL BE HELD BY BLOCK REAL ESTATE SERVICES, LLC  WHO, AT THEIR OPTION, MAY HOLD THE BUYERS’ DEPOSIT CHECK IN AN UNCASHED FORM UNTIL ALL OF THE CONTINGENCIES OF THIS SALE HAVE BEEN SATISFIED
 BUYERS AND SELLERS INDIVIDUALLY ACKNOWLEDGE RECEIPT OF A COPY OF THIS AGREEMENT.

  
 THIS IS A LEGALLY BINDING DOCUMENT.  READ IT CAREFULLY.  IF YOU DO NOT UNDERSTAND IT, CONSULT AN ATTORNEY.
 THE BROKER IS NOT AUTHORIZED TO GIVE LEGAL ADVICE.
 

 Buyers hereby agree to buy on the terms set forth above.
 Sellers hereby agree to buy on the terms set forth above.
 

 Dated: 
 11/11/09
 Time:_______ 
                Dated: 11/11/09
  Time: _______
 

 BUYER 
 Sue H. Cho
 SELLER City Laundry Services LLC by Kinta. L 
 

 Dixon Managing Member
 

 BUYER 
 Kay H. Cho
 SELLER /s/ Ephren W. Taylor
 

 Address: 221 SW Ascot Ct.
 Address: 2000 Mallory Lane, Suite 130-131
 

 City
 LS
 State
  MO
 Zip 64082
 City
 Franklin
 State
 TN
  Zip 37067
 

 Telephone: __________________
 Telephone: __________________
 

 

 

 
 AGREEMENT TO ALLOCATE PURCHASE PRICE
 

 This document has legal consequences. If you do not understand it, consult your attorney.
 

 This Agreement to Allocate Purchase Price (“Rider”) is attached as a supplement to the Contract for the Purchase and Sale of a Business dated   11-30-09  (“Contract”), in which Sue H & Kay H Cho, Wife & Husband is referred to as Buyer and City Laundry Services LLC is referred to as Seller for the purchase of the business known as 39th St Laundormat and situated in    1  , County of Jcakson, State of MO, located at 1716 W 39th St.
 

 For purchases of this Rider, the purchase price is allocated as follows:
 

 Inventory of salable merchandise, stock in trade and work in progress  
 $200.00
                 (It will be recalculated a day before closing)
 Accounts receivable
 $0
 Fixtures, Furniture and Furnishings
 $15,000.00
 Equipment and Machinery
 $
 Goodwill
 $2,000.00
 Agreement not to compete
 $3,000.00
 Leasehold valuation
 $0
 Other:
 $N/A
 Other:
 $N/A
 Other:
 $N/A
 TOTAL
 $20,200.00
 

 The above allocation is agreed to between Buyer and Seller.  However, by placing their initials here Buyer /s/ SC, RC and Seller /s/ KD agree that the amounts stated in items 1 and 2 are only estimated and are subject to adjustment at Closing based on the actual (inventory) at that time. 
 

 

 

 

 

 

 

 

 Buyer 
 /s/ Sue H. Cho
 Seller 
 City Laundry services, LLC by Kinta L. 
 Dixon, Managing Member
 

 Buyer 
 /s/ Kay H. Cho
 Seller 
 /s/ Ephren W. Taylor
 

 Date 
 11/11/2009
  
 Date 
 11/11/2009
 

 

 

 

 

 

 

 

 

 

 

 

 
 

 CONTINGENCIES TO PURCHASE OFFER DATED:
 

 Indicate all that apply:
 

  
 T    LEASE:  The  Purchase Agreement is contingent upon Buyers negotiating a new lease with acceptable terms and conditions with the landlord/owner of 1716 W 39th St, Kansas City MO 64111.
 

  
 T    DUE DILIGENCE:  This Purchase Agreement is further contingent upon Buyers reviewing, to their satisfaction and approval, the following documents:
 

 a.
 Seller needs to provide Buyer a Certificate of No Tax Due for sales tax (and or a Tax Clearance if the seller had employer withholding tax or other tax types such as property tax) on or before closing date.
 b.
 Copy of current lease/rental agreement
 c.
 Any other financial information deemed necessary by Buyers.
 d.
 ____________________________________________________________________
 

 If Buyers, upon performing a UCC search, discover or ascertain outstanding liens/encumbrances upon any assets itemized in the Inventory of Assets attached to this Purchase Agreement, upon written notification to Sellers, Sellers shall have ten (10) days to satisfy any liens/encumbrances or make an additional agreement with Buyers regarding how the same will be satisfied with proceeds exchanged at the closing.  If Sellers’ fail to take measures to satisfy any liens/encumbrances which are acceptable to Buyers, Buyers may give written notification to Sellers of the cancellation of this Purchase Agreement and all deposits will be refunded in full to Buyers.  Any written notification of cancellation of this Purchase Agreement must be sent to Sellers on or before 11-19-2009 to be considered valid and enforceable.
 

 If said document review provides information which is materially different or in contradiction to any information previously provided by Sellers, Buyers may, at their sole option, consider this Purchase Agreement null and void and provide written notification to Sellers of the cancellation of this Purchase Agreement, and all deposits will be refunded in full to Buyers.  Any written notification of cancellation of this Purchase Agreement must be sent to Sellers on or before 11-24-2009 to be considered valid and enforceable.
 

 

 

 Date:
 11/11/09
 Time:
 Date:
 11/11/09
  Time:
 

 /s/ Sue H. Cho
 City Laundry Services, LLC by Kinta L. Dixon Managing Member
 BUYER
 SELLER
 

 /s/ Kay H. Cho
 /s/ Ephren W. Taylor
 BUYER 
 SELLER
 

 

 

 

 
 

 Additional Considerations to Purchase Offer Dated
 

 Indicate all that apply:
 

 T  COVENANT NOT TO COMPETE:  Sellers hereby covenant to Buyers, and their successors, assigns and representatives that they will not engage, directly or indirectly, in any business which is the same as, or similar to, Coin Laundry or in competition with said business within a radius of   3   miles from 1716 W 39th St, Kansas City, MO 64111 for a period of three (2) years from the date of closing.  Sellers will not engage as a principal, agent, manager, employee, owner, partner, stockholder, director or officer of a corporation, member of an LLC, trustee, consultant or otherwise in any capacity whatsoever of any business which is the same as, or similar to Coin Laundry.  In consideration of this Covenant Not To Compete, Buyers will pay Sellers the amount of Three Thousand Dollars ($3,000.00) which has been included in the purchase price set forth in the Purchase Agreement.
 

 T INDEMNIFICATION AGREEMENT:  Buyers shall purchase as part of this contract, all equipment, fixtures, goodwill, inventory, trademarks, trade names, and leasehold rights in a condition free and clear from any and all liens and liabilities.  Sellers hereby agree to indemnify and hold Buyers harmless against any and all liens and liabilities which Buyers have not expressly agreed to accept, including any liens or encumbrances on any equipment, fixtures, inventory, supplies or assets set forth in the Itemization of Inventory & Assets attached hereto.
 

 T   TRAINING:  To effectuate an orderly transition, Sellers shall provide 10 hours extensive training on the management and operations of 39th St Laundromat  from the date of closing.  The precise dates of training shall be agreed upon by Buyers and Sellers at the time of closing.
 

 Date:
 11/11/09
 Time:
 Date:
 11/11/09
  Time:
 

 /s/ Sue H. Cho
 City Laundry Services, LLC by Kinta L. Dixon Managing Member
 BUYER
 SELLER
 

 /s/ Kay H. Cho
 /s/ Ephren W. Taylor
 BUYER
 SELLER
 

 

 
 COMMERCIAL AGENCY AND BROKERAGE 
 DISCLOSURE ADDENDUM
  
 SELLER/LANDLORD:
 City Laundry Services LLC
 BUYER/TENANT:
 Sue H & Kay H Cho, wife and husband
 PROPERTY ADDRESS, CITY, COUNTY, STATE, ZIP:
 1716 W 39th St, Kansas City, MO  64111.
 DATE OF LEASE / SALE CONTRACT:
 November 30, 2009
 

 THE FOLLOWING DISCLOSURE IS MADE IN COMPLIANCE WITH MISSOURI AND KANSAS REAL ESTATE LAWS AND RULES AND REGULATIONS.  APPLICACABLE SECTIONS BELOW MUST BE CHECKED, COMPLETED, SIGNED AND DATED FOR BOTH SELLER AND BUYER
 

 Seller/Landlord and Buyer/Tenant acknowledge that the real estate Licensee involved in this transaction may be acting as agents of the Seller/Landlord, agents of the Buyer/Tenant, Transaction Brokers or (in Missouri only) Disclosed Dual Agents. LICENSEES ACTING AS AN AGENT OF THE SELLER/LANDLORD HAVE A DUTY TO REPRESENT THE SELLER’S/LANDLORD’S INTEREST AND WILL NOT BE THE AGENT OF THE BUYER/TENANT.  INFORMATION GIVEN BY THE BUYER/TENANT TO A LICENSEE ACTING AS AN AGENT OF THE SELLER/LANDLORD WILL BE DISCLOSED TO THE SELLER/LANDLORD.  LICENSEES ACTING AS AN AGENT OF THE BUYER/TENANT HAVE A DUTY TO REPRESENT THE BUYER’S/TENANT’S INTEREST AND WILL NOT BE AN AGENT OF THE SELLER/LANDLORD.  INFORMATION GIVEN BY THE SELLER/LANDLORD TO A LICENSEE ACTING AS AN AGENT OF THE BUYER/TENANT WILL BE DISCLOSED TO THE BUYER/TENANT.  LICENSEES ACTING IN THE CAPACITY OF A TRANSCATION BROKER ARE NOT AGENTS FOR EITHER PARTY AND DO NOT AVOCATE THE INTERSTS OF EITHER PARTY.  LICENSEES ACTING AS DISCLOSED DUAL AGENTS ARE ACTING AS AGENTS FOR BOTH THE SELLER/LANDLORD AND THE BUYER/TENANT. (Note: A separate Dual Agency Disclosure Addendum is required).
 

 Licensee Assisting Seller/Landlord is acting as: (Check applicable)
 x
 Seller’s/Landlord’s Agent
 o
 Designated Seller’s/Landlord’s Agent (Supervising Broker acts as Transaction Broker)
 o
 Transaction Broker
 o
 Disclosed Dural Agent (Missouri only-Disclosed Dual Agency Addendum is required)
 o
 N/A-Seller(s) is not represented
 o
 Sub Agent
 

 Licensee Assisting Buyer/Tenant is acting as: (Check applicable)
 o
 Buyer’s/Tenant’s Agent
 o
 Designated Seller’s/Landlord’s Agent (Supervising Broker acts as Transaction Broker)
 o
 Designated Buyer’s/Tenant’s Agent (Supervising Broker acts as Transaction Broker)
 o
 Transaction Broker
 o
 Disclosed Dual Agent (Missouri only-Disclosed Dual Agency Addendum is required)
 x
 N/A, Buyer(s) is not represented
 o
 Sub Agent
 

 PAYMENT OF COMMISSION: All licensees(s) indicated above will be paid a commission at closing of the sale of the property as follows: (check applicable paragraph)
 x
 Seller/Landlord to Pay all Licensees.  All Licensees(s) will be paid from the Seller’s funds at closing according to the terms of the Listing or other Commission Agreement
 o
 Buyer/Tenant to Pay Buyers’ Agent. Seller/Landlord’s Licensee, if any will be paid from the Seller’s funds at closing according to the terms of the Listing Agreement. Buyer/Tenant’s Agent will be paid from the Buyer’s funds according to the terms of the Buyer/Tenant Agency Agreement.
 

 CAREFULLY READ THE TERMS HEREOF BEFORE SIGNING. WHEN SIGNED BY ALL PARTIES, THIS DOCUMENT BECOMES PART OF A LEGALLY BINDING CONTRACT.  IF NOT UNDERSTOOD, CONSULT AN ATTORNEY BEFORE SIGNING. THE PARTIES EXECUTING THIS CONTRACT REPRESENT AND WARRANT THAT THEY ARE LEGALLY AUTHORIZED TO DO SO.
 Licensees hereby certify that they are licensed to sell real estate in the state in which the Property is located.
 

 Seller/Landlord:
 Seller/Landlord:
 TITLE & NAME: City Laundry Services LLC
 TITLE & NAME: Sue H Cho
 By: /s/ Kinta L. Dixon, Managing Member
 By: /s/ Sue H. Cho
 11/30/09
 DATE
 DATE
 

 NAME: Jennifer Jang, Block Real Estate Services, LLC
 NAME: Kay H Cho
 By:
 By:
 /s/ Kay Cho
 11/30/09
 LICENSEE ASSISTING SELLER/LANDLORD
 DATE
 DATEConverted by EDGARwiz

THIS DEBENTURE, AND THE SECURITIES INTO WHICH IT IS CONVERTIBLE (COLLECTIVELY, THE “SECURITIES”), HAVE NOT BEEN REGISTERED WITH THE UNITED STATES SECURITIES EXCHANGE COMMISSION OR THE SECURITIES COMMISSION OF ANY STATE.  THE SECURITIES ARE BEING OFFERED PURSUANT TO A SAFE HARBOR FROM REGISTRATION UNDER REGULATION S AND/OR REGULATION D PROMULGATED UNDER THE SECURITIES ACT OF 1933, AS AMEMDED (THE “ACT”). THE SECURITIES ARE “RESTRICTED” AND MAY NOT BE OFFERED OR SOLD IN THE UNITED STATES OR TO U.S. PERSONS (AS SUCH TERM IS DEFINED IN REGULATION S PROMULGATED UNDER THE ACT) UNLESS THE SECURITIES ARE REGISTERED UNDER THE ACT, PURSUANT TO REGULATION S AND/OR REGULATION D OR PURSUANT TO AVAILABLE EXEMPTIONS FROM THE REGISTRATION REQUIREMENTS OF THE ACT AND THE COMPANY WILL BE PROVIDED WITH OPINION OF COUNSEL OR OTHER SUCH INFORMATION AS IT MAY REASONABLY REQUIRE TO CONFIRM THAT SUCH EXEMPTIONS ARE AVAILABLE.  FURTHER HEDGING TRANSACTION INVOLVING THE SECURITIES MAY NOT BE MADE EXCEPT IN COMPLIANCE WITH THE ACT.

DEBENTURE

UNICO, INCORPORATED

8% Convertible Debenture

Due June 3, 2010

No. 232

$30,000.00

This Debenture is issued by Unico, Incorporated, an Arizona corporation (the “Company”), and Moore Investment Holdings, LLC. (together with its permitted successors and assigns, the “Holder”) pursuant to exemptions from registration under the Securities Act of 1933, as amended.

ARTICLE I.

Section 1.01

Principal and Interest.  For value received on December 3, 2009, the Company hereby promises to pay to the order of Holder in lawful money of the United States of America and in immediately available funds the principal sum of $30,000.00, together with interest on the unpaid principal of this Debenture at the rate of eight percent (8%) per year (computed on the basis of the 365-day year and the actual days elapsed) from the date of this Debenture until paid.  At the Company’s option, the entire principal amount and all accrued interest shall be either (a) paid to the Holder on or before the due date of this Debenture or (b) converted in accordance with Section 1.02 herein.

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Section 1.02

Optional Conversion.  The Holder is entitled, at its option, to convert, at any time and from time to time, until payment in full of this Debenture, all or any part of the principal amount of this Debenture, plus accrued interest, into shares (the “Conversion Shares”) of the Company’s common stock, par value $0.0010 per share (“Common Stock”), at a price per share equal to fifty percent (50%) of the closing bid price of the Common Stock on the date that the Company receives notice of conversion. To convert this debenture, the Holder shall deliver written notice (the “Conversion Notice”) thereof, such Conversion Notice containing such information necessary including amount of conversion and number of shares, to the Company at its address set forth herein.  The date upon which the conversion shall be effective (the “Conversion Date”) shall be deemed to be the date set forth in the Conversion Notice.  The Conversion Shares shall be delivered to the Holder at the address indicated herein.

The Company is entitled, at its option, to convert, at any time and from time to time, until payment in full of this Debenture, all or any part of the principal amount of this Debenture, plus accrued interest, into shares (the “Conversion Shares”) of the Company’s common stock, par value $0.0010 per share (“Common Stock”), at a price per share equal to fifty percent (50%) of the closing bid price of the Common Stock on the date that the Company issues such notice of conversion. To convert this debenture, the Company shall deliver written notice (the “Conversion Notice”) thereof, such Conversion Notice containing such information necessary including amount of conversion and number of shares, to the Holder at its address set forth herein.  The date upon which the conversion shall be effective (the “Conversion Date”) shall be deemed to be the date set forth in the Conversion Notice.  The Conversion Shares shall be delivered to the Holder at the address indicated herein.

Section 1.03

Reservation of Common Stock.  The Company shall reserve and keep available out of its authorized but unissued shares of Common Stock, solely for the purpose of effecting the conversion of this Debenture, such number of shares of Common Stock as shall from time to time be sufficient to effect such conversion, based on the Conversion Price.  If at any time the Company does not have a sufficient number of Conversion Shares authorized and available, then the Company shall call and hold a special meeting of its stockholders within sixty (60) days of that time for the sole purpose of increasing the number of authorized shares of Common Stock.

Section 1.04

Registration Rights.  The Company is obligated to register the resale of the Conversion Shares under the Securities Act of 1933, as amended, or provide Holder with an appropriate exemption from registration.

Section 1.05

Interest Payments.  The interest so payable will be paid at the time of maturity or conversion to the person in whose name this Debenture is registered.  At the time such interest is payable, the Company, in its sole discretion, may elect to pay interest in cash or in the form of Common Stock.  If paid in Common Stock, the amount of stock to be issued shall be calculated in accordance with the formula and procedure set forth in Section 1.02 above. 

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Section 1.06

Right of Redemption.  The Company shall have the right to redeem, with thirty (30) business days advance notice to the Holder, any or all outstanding Debentures remaining in its sole discretion (“Right of Redemption”).  The redemption price shall be equal to 100% of the face amount of the Debenture redeemed plus all accrued interest (“Redemption Price”).   

Section 1.07

Subordinated Nature of Debenture.  This Debenture and all payments hereon, including principal or interest, shall be subordinated and junior in right of payment to all accounts payable of the Company incurred in the ordinary course of business and/or bank debt of the Company not to exceed $30,000.

ARTICLE II.

Section 2.01

Amendments and Waiver of Default.  The Debenture may be amended with the consent of Holder.  Without the consent of Holder, the Debenture may be amended to cure any ambiguity, defect or inconsistency, to provide assumption of the Company obligations to the Holder or to make any change that does not adversely affect the rights of the Holder.

ARTICLE III.

Section 3.01

Events of Default.  An Event of Default is defined as follows: (a) failure by the Company to pay amounts due hereunder within fifteen (15) days of the date of maturity of this Debenture; (b) failure by the Company for thirty (30) days after notice to it to comply with any of its other agreements in the Debenture; (c) events of bankruptcy or insolvency; (d) a breach by the Company of its obligations under the Registration Rights Agreement which is not cured by the Company within ten (10) days after receipt of written notice thereof.  The Holder may not enforce the Debenture except as provided herein.

Section 3.02

Failure to Issue Unrestricted Common Stock. As indicated above, a breach by the Company under its obligation under the Registration Rights Agreement shall be deemed an Event of Default, which if not cured with ten (10) days, shall entitle the Holder accelerated full payment of all debentures outstanding.  The Company acknowledges that failure to honor a Notice of Conversion shall cause hardship to the Holder.

ARTICLE IV.

Section 4.01

Anti-dilution.  In the event that the Company shall at any time subdivide the outstanding shares of Common Stock, or shall issue a stock dividend on the outstanding Common Stock, the Conversion Price in effect immediately prior to such subdivision of the issuance of such dividend shall be proportionately decreased and, in the event that the Company shall at any time combine the outstanding shares of Common stock, the Conversion price in effect immediately prior to such combination shall be 

3

proportionally increased, effective at the close of business on the date of such subdivision, dividend or combination as the case may be.

ARTICLE V.

Section 5.01

Notice.  Notices regarding this debenture shall send to the parties at the following addresses, unless a party notifies the other parties, in writing, of a change of address:

If to the Company:

Unico, Incorporated

Attn:  Mark A. Lopez, CEO

8880 Rio San Diego Drive, Suite 800

San Diego, CA 92108

Telephone: (619) 209-6124 

If to the Holder:

Moore Investment Holdings, LLC

Attn: Joseph Lopez

1575 Delucchi Lane, Ste. 115

Reno, Nevada 89502

Section 5.02

Governing Law.  This Debenture shall be deemed to be made under and shall be construed in accordance with the laws of the State of California without giving effect to the principals of conflict of the laws thereof.  Each of the parties consents to the jurisdiction of the U.S. District Court sitting in the District of the State of California or the state courts of the State of California sitting in Riverside in connection with any dispute arising under this debenture and hereby waives, to the maximum extent permitted by law, any objection, including the objection based on forum non conveniens to the bringing of any such proceeding in such jurisdictions.

Section 5.03

Severability.  The invalidity of any of the provisions of this Debenture shall not invalidate or otherwise affect any of the other provisions of this Debenture, which shall remain in full force effect.

Section 5.04

Entire Agreement and Amendments.  This Debenture represents the entire agreement between the parties hereto with respect to the subject matter hereof and there are no representations, warranties or commitments, except as set forth herein.  This Debenture may be amended only by an instrument in writing executed by the parties hereto.

Section 5.05

Counterparts.  This Debenture may be executed in multiple counterparts, each of which shall be an original, but all of which shall be deemed to constitute and instrument.

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IN WITNESS WHEREOF, with the intent to legally bound hereby, the Company has executed this Debenture as of the date first written above.

UNICO, INCORPORATED

By:/s/ Mark A. Lopez

Name: Mark A. Lopez

Title: Chief Executive Officer

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