Document:

ex-10_1.htm

Vista International Technologies, Inc. 10-Q

Exhibit 10.1

 

September 12, 2011

VIA EMAIL: bripps@vvit.us

Mr. Brad Ripps

Vista International Technologies, Inc.

88 Inverness Circle East, Suite N-103

Englewood, Colorado  80112

VIA EMAIL: maso1n@sbcglobal.net

Mr. Mason Brown

Brown-Lewisville Railroad Family First, LP

5610 Harbor Town Drive 

Dallas, Texas 75287

	
  

	
Re:

	
Real Estate Sales Contract (the “Contract”) by and between Vista International Technologies, Inc. (“Seller”) and Brown-Lewisville Railroad Family First Limited Partnership (“Buyer”) having an Effective Date of February 17, 2011 including all amendments, with respect to the real property consisting of approximately 26.9 acres, located in Dallas County (“Property”)

Dear Gentlemen:

The parties acknowledge that the Feasibility Period expires on September 13, 2011.  This letter agreement will confirm in writing recent discussions between Buyer and Seller regarding extending the Feasibility Period.  As such, this letter agreement will serve as Amendment No. 2 to the Contract.

All terms and conditions used herein will have the meanings ascribed to them in the Contract.  The Contract is amended as follows:

	
·  

	
The definition of “End of Feasibility Period” on page 3 of the Contract shall be amended by deleting “sixty days (60) days after the Effective Date” and substituting the following:

“November 14, 2011.”

	
·  

	
Paragraph 3 on page 5 of the Contract shall be amended by deleting the first sentence and substituting the following sentence:

“Feasibility Period.  During the period commencing on the Effective Date and expiring 5:00 pm Central Standard Time on November 14, 2011 (the “Feasibility Period”), Buyer shall have the right to investigate and inspect the Property to determine whether or not the Property is suitable for Buyer’s intended use.”

 

  

  

  

 

Messrs. Ripps and Brown

July 7, 2011

Page  2 of 3

Except as amended herein, all other terms and conditions of the Contract shall remain in full force and effect.

Notwithstanding anything contained herein to the contrary, in the event this letter agreement to extend the feasibility period is not executed by all parties on or before 5:00 pm Central Standard Time on September 13, 2011, this letter agreement shall serve as written notice from Buyer to Seller that Buyer hereby terminates the Contract; and in accordance with the Contract, the Title Company shall deliver the earnest money to Buyer, and both parties shall be released from all further obligations under this Contract, except those that specifically survive termination.

Please confirm your agreement to the above amendments to the Contract by executing this letter agreement where indicated below, which may be executed in counterparts.

 

	 	 	 	
Sincerely,

/s/ Patricia L. Stein

Patricia L. Stein

	 	 
	 	  	 	  	  	  	  
	ACCEPTED AND AGREED TO BY:	 	  	
ACCEPTED AND AGREED TO BY:

	  
	 	  	 	  	  	  	  
	SELLER:	 	  	
BUYER:

	  	  
	VISTA INTERNATIONAL TECHNOLOGIES, INC.	 	  	
BROWN LEWISVILLE RAILROAD 

FAMILY FIRST, LP

	 
	 	 	 	 	 	 	 
	 	  	 	  	  	  	  
	By:	/s/ Brad A. Ripps	 	  	
By:

	
BLRR Management, LLC

	  
	 	
Brad A. Ripps, Chief Executive Officer

	 	  	
Its:

	
General Partner

	  
	 	  	 	  	  	  	  
	Date:	
09/12/11

	 	  	  	  	  
	 	  	 	  	
 By: 

	
/s/ Mason C. Brown

	  
	 	  	 	  	  	
Mason C. Brown, President

	  
	 	  	 	  	
Date:

	9-12-11	  
	 	  	 	  	  	  	  
	 	  	 	  	  	  	  

 

  

  

  

Messrs. Ripps and Brown

July 7, 2011

Page  3 of 3

cc:           VIA EMAIL:  Phil.Rosenfeld@colliers.com

Mr. Phil Rosenfeld

Park Seventeen

1717 McKinney Avenue, Suite 900

Dallas, Texas  75202

VIA EMAIL:  sgregory@atlascr.com

Mr. Scott Gregory

Atlas Advisors Commercial Real Estate

13721 Omega

Farmers Branch, Texas  75244

VIA EMAIL:  LorimerD@ctt.com

Mr. Dan Lorimer

Chicago Title Company

2001 Bryan Tower, 17th Floor

Dallas, Texas  75201

VIA EMAIL:  delinda.tobar@ctt.com

DeLinda Tober

Chicago Title Company

2001 Bryan Street, Suite 1700

Dallas, Texas  75201ex-10_2.htm

Vista International Technologies, Inc. 10-Q

 

Exhibit 10.2

November 10, 2011

VIA EMAIL: bripps@vvit.us

Mr. Brad Ripps

Vista International Technologies, Inc.

88 Inverness Circle East, Suite N-103

Englewood, Colorado  80112

VIA EMAIL: maso1n@sbcglobal.net

	
  

	
Mr. Mason Brown

	
  

	
Brown-Lewisville Railroad Family First, LP

	
  

	
5610 Harbor Town Drive

Dallas, Texas 75287

	
  

	
Re:

	
Real Estate Sales Contract (the “Contract”) by and between Vista International Technologies, Inc. (“Seller”) and Brown-Lewisville Railroad Family First Limited Partnership (“Buyer”) having an Effective Date of February 17, 2011 including all amendments, with respect to the real property consisting of approximately 26.9 acres, located in Dallas County (“Property”)

Dear Gentlemen:

The parties acknowledge that the Feasibility Period expires on November 14, 2011.  This letter agreement will confirm in writing recent discussions between Buyer and Seller regarding extending the Feasibility Period.  As such, this letter agreement will serve as Amendment No. 3 to the Contract.

All terms and conditions used herein will have the meanings ascribed to them in the Contract.  The Contract is amended as follows:

	
·  

	
The definition of “End of Feasibility Period” on page 3 of the Contract shall be amended by deleting “sixty days (60) days after the Effective Date” and substituting the following:

“January 17, 2012.”

	
·  

	
Paragraph 3 on page 5 of the Contract shall be amended by deleting the first sentence and substituting the following sentence:

“Feasibility Period.  During the period commencing on the Effective Date and expiring 5:00 pm Central Standard Time on January 17, 2012 (the “Feasibility Period”), Buyer shall have the right to investigate and inspect the Property to determine whether or not the Property is suitable for Buyer’s intended use.”

 

  

  

  

 

Except as amended herein, all other terms and conditions of the Contract shall remain in full force and effect.

Notwithstanding anything contained herein to the contrary, in the event this letter agreement to extend the feasibility period is not executed by all parties on or before 5:00 pm Central Standard Time on November 14, 2011, this letter agreement shall serve as written notice from Buyer to Seller that Buyer hereby terminates the Contract; and in accordance with the Contract, the Title Company shall deliver the earnest money to Buyer, and both parties shall be released from all further obligations under this Contract, except those that specifically survive termination.

Please confirm your agreement to the above amendments to the Contract by executing this letter agreement where indicated below, which may be executed in counterparts.

 

	 	 	 	
Sincerely,

 

/s/ Patricia L. Stein

 

Patricia L. Stein

	 	 	 
	 	  	 	  	  	  	  
	ACCEPTED AND AGREED TO BY:	 	  	
ACCEPTED AND AGREED TO BY:

	  
	 	  	 	  	  	  	  
	SELLER:	 	  	
BUYER:

	  	  
	VISTA INTERNATIONAL TECHNOLOGIES, INC.	 	  	
BROWN LEWISVILLE RAILROAD 

FAMILY FIRST, LP

	 
	 	  	 	  	  	  	  
	By:	/s/ Brad A. Ripps	 	  	
By:

	
BLRR Management, LLC

	  
	 	
Brad A. Ripps, Chief Executive Officer

	 	  	
Its:

	
General Partner

	  
	 	  	 	  	  	  	  
	Date:	
11-11-11

	 	  	  	  	  
	 	  	 	  	
 By: 

	
/s/ Mason C. Brown

	  
	 	  	 	  	  	
Mason C. Brown, President

	  
	 	  	 	  	
Date:

	11-10-11	  
	 	  	 	  	  	  	  
	 	  	 	  	  	  	  

 

  

  

  

cc:           VIA EMAIL:  Phil.Rosenfeld@colliers.com

Mr. Phil Rosenfeld

Park Seventeen

1717 McKinney Avenue, Suite 900

Dallas, Texas  75202

VIA EMAIL:  sgregory@atlascr.com

Mr. Scott Gregory

Atlas Advisors Commercial Real Estate

13721 Omega

Farmers Branch, Texas  75244

VIA EMAIL:  LorimerD@ctt.com

Mr. Dan Lorimer

Chicago Title Company

2001 Bryan Tower, 17th Floor

Dallas, Texas  75201

VIA EMAIL:  delinda.tobar@ctt.com

DeLinda Tober

Chicago Title Company

2001 Bryan Street, Suite 1700

Dallas, Texas  75201ex-10_3.htm

Vista International Technologies, Inc. 10-Q

Exhibit 10.3

July 21, 2011

Ms. Michelle Rider, Esq.

Tarshis, Catania, Liberth, Mahon & Milligram

One Corwin Court

P.O. Box 1479

Newburgh, NY 12550

	
  

	
RE:

	
$375,000 Line of Credit (the “Line of Credit”) extended by Richard C. Strain (“Lender”) to Vista International Technologies, Inc. (the “Company”)

 

Dear Michelle:

On behalf of the Company we hereby request an advance of $50,000 (the “Advance”) under the Line of Credit, to be wired to the Company no later than July 21, 2011, pursuant to the wire instructions attached to this letter as Exhibit A.

We understand you are authorized by the Lender to make the funds for the Advance available to the Company. .

In accordance with the provisions of the Line of Credit, we hereby advise you that the proceeds of the Advance will be used to process the excess tire inventory currently stored at the tire processing facility owned by the Company and located at 1323 Fulghum Road, in Hutchins, Texas (the “Property”) and to fund working capital needs of the Company through the closing of the sale of the Property to Brown-Lewisville Railroad Family First Limited Partnership, a Texas limited partnership (“Brown”), currently scheduled to close on or before August 31, 2011 (the “Closing Date”).

We agree to repay the Advance on the Closing Date.

In addition,  as consideration  for the Lender making the Advance, the Company hereby agrees to repay to the Lender an additional $25,000 (the “Additional Repayment”) of the outstanding balance of the Letter of Credit on the earlier to occur of (a) the Closing Date, if, on the Closing Date, Brown does not require an escrow of  sale proceeds in order to continue processing the excess tire inventory currently stored at the Property or (b) if Brown does require an escrow of  sale proceeds  then such Additional Repayment shall be made to the Lender substantially concurrently with the release of the portion of the sale proceeds subject to such escrow. Exhibit B attached provides a detail of repayment to Mr. Strain under both alternatives.

 

  

  

  

 

By your execution of the counterpart of this Letter, you hereby agree, as authorized by the Lender, as follows:

To make the Advance as described above; and

To accept the repayment terms of the Advance and the Additional Repayment as described above.

 

 

 

 

	 	Very truly yours,	 
	 	 	 
	 	 	 
	 	/s/ Bradley A. Ripps	 
	 	Bradley A. Ripps 

Chief Executive Officer

Vista International Technologies, Inc.

	 

 

Ms. Michelle Rider, Esq.

July 21, 2011

Page 2 of 4

 

 

Accepted and agreed this __ day of July, 2011

 

 

	/s/ Michelle Rider	 
	Michelle Rider, Esq.	 

 

 

  

  

  

 

Ms. Michelle Rider, Esq.

July 21, 2011

Page 3 of 4

EXHIBIT A

 

WIRE INSTRUCTIONS

 

f/b/o  Vista International Technologies, Inc.

 

Routing number: 102001017

 

Account number: 637643451

 

  

  

  

 

Ms. Michelle Rider, Esq.

July 21, 2011

Page 4 of 4

 

EXHIBIT B

 

SEE ATTACHED

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00196-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00196-of-00352.parquet"}], [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00196-of-00352.parquet"}]]