Document:

ex10-2.htm

    
      

    

    Exhibit
10.2

     

    
BILL
OF SALE

    AND

    ASSIGNMENT
AND ASSUMPTION AGREEMENT

    

    

    THIS BILL OF SALE AND ASSIGNMENT AND
ASSUMPTION AGREEMENT (“Agreement”), is made and entered into effective as of
this 31st day of December, 2008, by and among DCA OF HYATTSVILLE, LLC, a
Maryland limited liability company (“Purchaser”), and ST. THOMAS MORE DIALYSIS
CENTER, LLC, a Maryland limited liability company (“Seller”).

    

    WHEREAS, the Seller and the Purchaser
are parties to an Asset Purchase Agreement dated as of December 31, 2008 (the
“Purchase Agreement”) whereby (i) Seller has agreed to sell, convey, transfer,
assign and deliver to the Purchaser the Acquired Assets (as defined in the
Purchase Agreement), and Seller has agreed to assign and the Purchaser has
agreed to assume, the Assumed Liabilities (as defined in the Purchase
Agreement);

    

    WHEREAS, all capitalized terms not
defined herein shall have the meanings ascribed to such terms in the Purchase
Agreement.

    

    NOW THEREFORE, pursuant to the Purchase
Agreement, and in consideration of the mutual promises, covenants and agreements
therein and hereinafter set forth and other good and valuable consideration, the
receipt and sufficiency of which are hereby acknowledged, the parties agree as
follows:

    

    1.           Bill of
Sale.

     

     
(a)           Seller
hereby sells, assigns, conveys, transfers, sets over and delivers to the
Purchaser all of Seller’s right, title and interest in and to the Acquired
Assets, free and clear of all Liens, to have and to hold such Acquired Assets
into the Acquiring Entity, its respective successors and assigns,
forever.

     

     
(b)           The Seller
warrants that it has good, valid and marketable title to all of the Acquired
Assets, free and clear of any and all Liens, and hereby covenants and agrees to
defend the transfer, sale, assignment and delivery of such Acquired Assets to
the Purchaser against each and every claim of superior title, right or interest
therein or thereto.

     

     
(c)           Notwithstanding
anything contained herein, Purchaser is not purchasing from the Seller nor
receiving from Seller any of the Excluded Assets as set forth in Section 1.3 of
the Purchase Agreement.

    

    2.           Assignment and Assumption of
Assumed Liabilities.

     

     
(a)           Seller
hereby assigns to Purchaser, its respective successors and assigns, and the
Purchaser hereby assumes, in accordance with the terms and conditions of the
Purchase Agreement, the Assumed Liabilities.

     

     
(b)           In the
event that Seller and or the Purchaser determines after execution of this
Agreement that one or more contract or agreement between Seller and any third
party necessary to operate the Acquired Assets was not designated as an Assumed
Agreement (each and “Omitted Agreement”), and the parties consent in writing to
the assignment and assumption of such Omitted Agreement, which consent shall not
be unreasonably withheld, then such Omitted Agreement shall be deemed assigned
by Seller to the Purchaser as of the Closing Date.

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

     
(c)           Notice of
the assignment under this Agreement may be given at the option of either party
to all parties to the Assumed Agreements (other than Seller) or to such parties’
duly authorized agents.

    

     
(d)           The
assumption by the Purchaser of any Assumed Liabilities shall not enlarge the
rights of any third party with respect to any Assumed Liabilities, nor shall it
prevent the Purchaser, with respect to any party other than Seller, from
contesting or disputing any Assumed Liability, provided that such contest or
dispute shall not expose Seller to any additional cost or liability under the
Assumed Liabilities.

    

    3.           Consummation of Purchase
Agreement.  This Agreement is intended to evidence the
consummation of the sale by Seller and the purchase by the Purchaser of the
Acquired Assets, and the assignment by Seller and the assumption by the
Purchaser of the Assumed Liabilities contemplated by the Purchase
Agreement.  Seller and the Purchaser, by their execution of this
Agreement, each hereby acknowledges and agrees that neither the representations
and warranties nor the rights and remedies of any party under the Purchase
Agreement shall be deemed to be enlarged, modified or altered in any way by this
Agreement.  Any inconsistencies or ambiguities between this Agreement
and the Purchase Agreement shall be resolved in favor of the Purchase
Agreement.

    

    4.           Payments
Received.  Any payment that may be received by the Seller to
which any of the Purchaser is entitled by reason of this Agreement or the
Purchase Agreement shall be received by the Seller as trustee for the Purchaser,
and will be delivered promptly to the Purchaser, and any payment that may be
received by the Purchaser to which Seller is entitled by reason of this
Agreement or the Purchase Agreement shall be received by Purchaser as trustee
for the Seller, and will be delivered promptly to Seller.

    

    5.           Binding
Effect.  This Agreement shall be binding upon and inure to the
benefit of the parties and their respective successors and assigns.

    

    6.           Further
Assurances.  After the Closing Date, each party will from time
to time, at the other party’s request and without further cost to the party
receiving the request, execute and deliver to the requesting party such other
instruments and take such other action as the requesting party may reasonably
request so as to enable it to exercise and enforce its rights under, and fully
enjoy the benefits and privileges with respect to, this Agreement and to carry
out the provisions and purposes hereof.

    

    7.           Governing
Law.  This Agreement shall be governed by and construed in
accordance with the laws of the State of Maryland applicable to agreements made
and to be performed in that State without giving effect to conflicts of law
principles.

    

    8.           Counterparts.  This
Agreement may be signed in any number of counterparts and all such counterparts
shall be read together and construed as one and the same document.

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    IN
WITNESS WHEREOF, this Bill of Sale and Assignment and Assumption Agreement has
been executed as of the 31st day of December, 2008.

    

    

    
      	 
      	
              SELLER:

            
	 
      	 
      	 
      	 
      	 
      
	 
      	
              ST.
      THOMAS MORE DIALYSIS CENTER, LLC

            
	 
      	
              a
      Maryland limited liability company

            
	 
      	 
      	 
      	 
      	 
      
	 
      	
              By:  G&L
      SENIOR CARE PROPERTIES, LLC,

            
	 
      	 
      	
              a
      Nevada limited liability company

            
	 
      	 
      	
              Its:  Managing
      Member

            
	 
      	 
      	 
      	 
      	 
      
	 
      	 
      	
              By:

            	
              /s/ Steven D. Lebowitz

            	 
      
	 
      	 
      	 
      	
              Steven
      D. Lebowitz, Managing Director

            
	 
      	 
      	 
      	 
      	 
      
	 
      	
              By:

            	
              M&J
      HYATTSVILLE, LLC,

            
	 
      	 
      	
              a
      Maryland limited liability company

            
	 
      	 
      	
              Its:  Member

            	 
      
	 
      	 
      	 
      	 
      	 
      
	 
      	 
      	
              By:

            	
              /s/ Matthew W. Neiswanger

            	 
      
	 
      	 
      	 
      	
              Matthew
      W. Neiswanger, Manager

            	 
      

    

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    IN
WITNESS WHEREOF, this Bill of Sale and Assignment and Assumption Agreement has
been executed as of the 31st day of December, 2008.

    

    

    
      	 
      	
              PURCHASER:

            
	 
      	 
      	 
      	 
      
	 
      	
              DCA
      OF HYATTSVILLE, LLC

            
	 
      	
              a
      Maryland limited liability company

            
	 
      	 
      	 
      	 
      
	 
      	
              By:

            	
              /s/ Stephen W. Everett

            	 
      
	 
      	 
      	
              Stephen
      W. Everett

            	 
      
	 
      	 
      	
              Presidentex10-3.htm

    
      

    

    Exhibit
10.3

     

     

    GUARANTY

    

    This Guaranty (the “Guaranty”), dated and
effective as of December 31, 2008, and is made and entered into by ST. THOMAS
MORE, LLC, a Nevada limited liability company (“Guarantor”) with reference to
the following facts:

    

    R E C I T A L S

    

    A.           St.
Thomas More Dialysis Center, LLC, a Maryland limited liability company (“Dialysis”) and DCA of
Hyattsville, LLC, a Maryland limited liability company (“Purchaser”) are parties to
that certain Asset Purchase Agreement, dated as of December 31, 2008 (the “Purchase
Agreement”).

    

    B.           In
the event Closing (as defined in the Purchase Agreement) occurs under the
Purchase Agreement, Guarantor has agreed to execute this Guaranty in favor of
Purchaser to guaranty the performance by Dialysis of the General Covenants (as
defined in the Purchase Agreement) for a period of eighteen (18) months
following Closing Date (as defined in the Purchase Agreement) under the Purchase
Agreement (the “Survival
Period”).

    

    NOW, THEREFORE, for good and valuable
consideration, the receipt and sufficiency of which are hereby acknowledged,
Guarantor agrees as follows:

    

    A G R E E M E N T

    

    1.           Recitals.   Each
and all of the foregoing recitals of background facts are incorporated herein by
this reference as though set forth herein verbatim.

    

    2.           Definition of Terms Used
Herein.   The capitalized terms in this Guaranty shall
have the meanings set forth in the Purchase Agreement unless otherwise expressly
indicated herein.

    

    3.           Guaranty.

     

     
3.1           Guarantor
guarantees the performance by Dialysis of the General Covenants of Dialysis
under the Purchase Agreement during the Survival Period.  This
Guaranty is an absolute guaranty of payment and performance and not of
collection.

     

     
3.2           If
Purchaser determines that Dialysis has defaulted on, or breached or violated any
of its General Covenants of Dialysis under the Purchase Agreement and such
default is not cured within ten (10) business days following written notice from
Purchaser to Dialysis and Guarantor, then Purchaser shall have the right to
pursue an action against Guarantor for the actual damages (excluding
consequential, speculative and punitive damages) incurred by Purchaser directly
related to such breach or default of by Dialysis of its General
Covenants.  Any action that is not brought by Purchaser against
Guarantor prior to the end of the Survival Period shall thereafter be barred;
provided that Purchaser delivers to the Guarantor during the Survival Period a
written notice (i) stating its intention to file a legal action against the
Guarantor, and (ii) setting forth in reasonable detail the grounds for such
legal action, then Purchaser shall have an additional thirty (30) calendar days
following the conclusion of the Survival Period in which to file, and serve upon
the Guarantor, the complaint in such legal action.

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

     

     
3.3           No member
or employee of Guarantor shall have any personal liability, directly or
indirectly, under or in connection with the Guaranty except for any acts of a
member or employee of Guarantor of intentional fraud or intentional
misrepresentation.

     

     
3.4           Notwithstanding
anything to the contrary contained herein:  (a) Guarantor shall have
no liability (and Purchaser shall make no claim against Guarantor, or any member
or employee of Guarantor) under this Guaranty or any document executed by
Guarantor in connection with this Guaranty, unless the valid claims by Purchaser
under this Guaranty collectively aggregate to more than Ten Thousand Dollars
($10,000); (b) the liability of Guarantor under this Agreement and such
documents shall not exceed, in the aggregate, an amount equal to Six Million
Dollars ($6,000,000) under any circumstances; and (c) in no event shall
Guarantor be liable for any consequential, special or punitive
damages.  The provisions of this Section 3.4 shall not apply to any
acts by Guarantor of intentional fraud or intentional
misrepresentation.

    

    4.           General
Provisions.

     

     
4.1           Guarantor
agrees to pay, upon Purchaser’s demand, Purchaser’s reasonable out-of-pocket
costs and expenses, including but not limited to attorneys’ fees, costs and
disbursements, incurred in any effort to collect or enforce the obligations of
Guarantor under this Guaranty, regardless whether any lawsuit is filed, and in
the representation of Purchaser in any insolvency, bankruptcy, reorganization or
similar proceeding relating to Dialysis or Guarantor. Until paid to Purchaser,
such sums will bear interest from the date such costs and expenses are incurred
at the rate of eight percent (8%) per annum.

     

     
4.2           No
provision of this Guaranty or Purchaser’s rights hereunder may be waived or
modified nor can Guarantor be released from its obligations hereunder except by
a writing executed by Purchaser. No such waiver shall be applicable except in
the specific instance for which given.  All remedies of Purchaser
against Dialysis and Guarantor are cumulative, except that the aggregate
liability of Dialysis and Guarantor shall not exceed the aggregate amount in
Section 3.4(b) of this Guaranty.  This Guaranty shall be governed by
and construed under the laws of the State of Maryland and venue for any action
under this Guaranty shall be in Prince George’s County, Maryland.  The
provisions of this Guaranty will bind and benefit the heirs, executors,
administrators, legal representatives, successors and assigns of Dialysis and
Guarantor and will inure to and benefit the Purchaser and its administrators,
legal representatives, successors and assigns.

     

     
4.3           In the
event of a sale or other disposition by Guarantor of all or substantially all of
its assets prior to the conclusion of the Survival Period, the acquirer of such
asssets shall be deemed a “successor” Guarantor for purposes of this
Guaranty.

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

     

    IN WITNESS WHEREOF, GUARANTOR has
caused its duly authorized officer to execute this Guaranty of Lease as of this
31st day of December, 2008.

    

    

    
      	 
      	
              ST.
      THOMAS MORE, LLC,

            
	 
      	
              a
      Nevada limited liability company

            
	 
      	 
      	 
      	 
      	 
      	 
      	 
      
	 
      	
              By:

            	
              ST.
      THOMAS MORE FACILITY, LLC,

            
	 
      	 
      	
              a
      Maryland limited liability company

            
	 
      	 
      	
              Its:  Member

            
	 
      	 
      	 
      	 
      	 
      	 
      	 
      
	 
      	 
      	
              By:

            	
              G&L
      ST. THOMAS MORE, LLC,

            
	 
      	 
      	 
      	
              a
      Nevada limited liability company

            
	 
      	 
      	 
      	
              Its:  Venture
      Manager

            
	 
      	 
      	 
      	 
      	 
      	 
      	 
      
	 
      	 
      	 
      	
              By:

            	
              G&L
      SENIOR CARE PROPERTIES, LLC,

            
	 
      	 
      	 
      	 
      	
              a
      Nevada limited liability company

            
	 
      	 
      	 
      	 
      	
              Its:  Member

            
	 
      	 
      	 
      	 
      	 
      	 
      	 
      
	 
      	 
      	 
      	 
      	 
      	 
      	 
      
	 
      	 
      	 
      	 
      	
              By:

            	
              /s/ Steven D. Lebowitz

            	 
      
	 
      	 
      	 
      	 
      	 
      	
              Steven
      D. Lebowitz

            
	 
      	 
      	 
      	 
      	 
      	
              Its:  Managing
      Director

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