Document:

Exhibit 10.15

   Lease of aircraft executed by and between Golden Flake Snack Foods, Inc., a
  wholly-owned subsidiary of Golden Enterprises, Inc., and Joann F. Bashinsky
                            dated February 1, 2006.

                                   52

<PAGE>

                               LEASE OF AIRCRAFT

        THIS LEASE OF AIRCRAFT is made effective this 1st day of February, 2006,
by and between GOLDEN FLAKE SNACK FOODS, INC., a Delaware corporation, whose
address is One Golden Flake Drive, P.O. Box 2447, Birmingham, Alabama 35201
("Lessor"), and JOANN F. BASHINSKY, a resident of the State of Alabama, whose
address is 3432 Briarcliff Road East, Birmingham, Alabama 35223 ("Lessee").

        1.   Lessor hereby leases to Lessee, and Lessee leases from Lessor,
subject to the terms and conditions herein set forth, the following described
aircraft:

        Manufacturer        Type           Registration and/or Serial Number
        ------------        ----           ---------------------------------

        Cessna              Citation II            N 200GF/550-0556

        Together with all equipment and accessories attached thereto or used in
connection therewith (collectively the "Aircraft").

        2.   Lessor hereby leases the Aircraft to Lessee for the personal use by
Lessee.

        3.   The term of this Lease is from February 1, 2006 to January 31,
2007, and shall automatically renew annually thereafter, unless Lessor or Lessee
submits written notice to the other party of that party's intention to not renew
this Lease not later than thirty (30) days prior to the expiration of the
then-current lease term.

                                       53

<PAGE>

        4.   In consideration of this Lease of Aircraft, Lessee convenants,
warrants and agrees as follows:

               (a) Lease Payments. Lessee shall pay to Lessor for the
          non-exclusive possession and use of the Aircraft for up to one hundred
          (100) flight hours per year, the sum of Twenty Thousand and no/100
          Dollars ($20,000) per month, payable on the last day of each month of
          the Lease term. Lessor acknowledges receipt of the February 2006 lease
          payment.

               (b) Lessee Shall Furnish Flight Crew. Lessee agrees that she
          shall furnish at her sole cost and expense a flight crew for each
          flight of the airplane used by her consisting of a duly licensed pilot
          and co-pilot.

               (c) Use of Aircraft. Lessee shall safely and carefully use the
          Aircraft, and not sell or attempt to sell, remove or attempt to remove
          the same or any part thereof from the continental states of the United
          States.

               (d) Lessee understands and agrees that Lessee's right to use the
          Aircraft at a given time must be coordinated with Lessor. Lessor shall
          retain the right to use the Aircraft for business purposes and to
          lease the Airplane to third parties for personal and/or business use.

               (e) No Liens. Lessee agrees that she will not attempt to convey
          or mortgage or create any lien of any kind or character against the
          Aircraft or do anything or take any action that might mature into such
          a lien. Lessee understands and agrees that this Lease shall not
          transfer any interest in the Aircraft to Lessee, and that this Lease
          is not intended as a security instrument or security agreement.

               (f) Compliance with Laws, etc. Lessee shall, during the term of
          this Lease while in possession of the Aircraft and until return and
          delivery of the Aircraft to Lessor, abide by and conform to all laws
          and governmental and airport orders, rules and regulations, including

                                       54

<PAGE>

          any future amendments thereto, controlling or in any manner affecting
          the operation, use or occupancy of the Aircraft or use of airport
          premises by the Aircraft.

               (g) Condition of Aircraft. Lessee accepts the Aircraft in its
          present condition.

               (h) Indemnity. Lessee shall be responsible for and liable to
          Lessor for, and shall indemnify Lessor against, any and all damage to
          the Aircraft which occurs from the willful misconduct or gross
          negligence or Lessee during the term of this Lease while the Aircraft
          is in the possession or control of Lessee.

               (i) Remedies upon Breach. Lessee agrees that if she violates any
          of the aforesaid convenants, terms and conditions, Lessor may, at its
          sole option without notice to Lessee or others, terminate this Lease
          and take possession of said Aircraft wherever found.

               (j) Lessee's Cooperation. Lessee agrees to cooperate with Lessor
          in the execution and filing of all documents Lessor deems necessary or
          desirable to fulfilling the objectives of this Lease.

               (k) No Assignment by Lessee. Lessee shall not assign this Lease
          without the prior written consent of Lessor. Lessee is prohibited and
          shall not charge any third party for the use of the Aircraft.

          5.  In consideration for this Lease of Aircraft, Lessor convenants,
warrants, and agrees as follows:

               (a) Lessee may have the use of the Airplane for up to 100 flight
          hours per year during the term of this Lease.

                                       55

<PAGE>

               (c) Parties Bound. This Contract shall be binding upon and inure
          to the benefit of the parties hereto and their respective heirs,
          personal representatives, successors and assigns.

               (d) Prior Agreements Superseded. This Contract constitutes the
          sole and onlyu agreement of the parties hereto and supersedes any
          prior understandings or written or oral agreements between the parties
          respecting to the Aircraft.

               (e) Relation of Parties. Nothing herein contained shall be
          construed to create a relationship of third party beneficiary hereof
          or joint venture or any association or other such relationship between
          Lessor and Lessee except that of Lessor and Lessee.

               (f) Caption. The paragraph headings or captions appearing in this
          Lease are for convenience only, are not a part of this Lease and are
          not to be considered in interpreting this Lease.

          7.   Truth-in-Leasing Clause.

               (a) The Lessor hereby represents and warrants that the Aircraft
          has been maintained and inspected during the 12 months preceding the
          date and execution of this Lease under Federal Aviation Regulations
          Part 91. Lessor hereby certifies that the Aircraft is currently, and
          shall at all times during the term of this Lease remain, in compliance
          with the applicable Federal Aviation Regulations maintenance and
          inspection requirements for the operation to be conducted under this
          Lease.

               (b) The name and address and the signature of the person
          responsible for operational control of the Aircraft under this Lease
          is as follows:

                                       56

<PAGE>

                                Name:       Don Brown
                                            (Chief Pilot for Lessor)

                                Address:    One Golden Flake Drive
                                            Birmingham, Alabama 352332

               Don Brown, by affixing his signature below, hereby certifies
          that he understands his responsibilities for compliance with
          applicable Federal Aviation Regulations.

                                            /s/ Don Brown
                                            -----------------------
                                            Don Brown

               (c) Lessor and Lessee acknowledge that an explanation of factors
          bearing on operational control and pertinent Federal Aviation
          Regulations can be obtained from the nearest Federal Aviation
          Administration (FAA) Flight Standards district office.

          IN WITNESS WHEREOF, the parties have hereunto set their hands and
seals on the date first above written.

                                        LESSOR:

                                        GOLDEN FLAKE SNACK FOODS, INC.

                                        By:  /s/ Mark W. McCutcheon
                                             ----------------------
                                             Mark W. McCutcheon
                                             Its President

                                        LESSEE:

                                        /s/ Joann F. Bashinsky
                                        ----------------------
                                        JOANN F. BASHINSKY

                         [ACKNOWLEDGMENTS ON NEXT PAGE]

                                       57

<PAGE>

STATE OF ALABAMA )
JEFFERSON COUNTY )

        I, the undersigned Notary Public, in and for said County, in said State,
certify that Mark W. McCutcheon, whose name as President of GOLDEN FLAKE SNACK
FOODS, INC., an Alabama corporation, is signed to the foregoing agreement, and
who is known to me, acknowledged before me on this day that, being informed of
the contents of said agreement, he/she as such officer, and with full authority,
executed the same voluntarily, as an act of said corporation.

        Given under my hand and official seal, this the 3rd day of March, 2006.

                                /s/ Patricia R. Townsend
                                ------------------------
                                NOTARY PUBLIC
                                My Commission Expires:     12-27-08
                                                       --------------

STATE OF ALABAMA )
JEFFERSON COUNTY )

        I, the undersigned Notary Public, in and for said County, in said State,
certify that JOANN F. BASHINSKY, whose name is signed to the foregoing
agreement, and who is known to me, acknowledged before me on this day that,
being informed of the contents of said agreement, she executed the same
voluntarily on the day the same bears date.

        Given under my hand and official seal, this the 3rd day of March, 2006.

                                /s/ Patricia R. Townsend
                                ------------------------
                                NOTARY PUBLIC
                                My Commission Expires:     12-27-08

                                       58Exhibit 10.16

Purchase and Sale Agreement executed by and Between Golden Flake Snack Foods,
Inc., as Seller, and Educational Development Company of America, LLC & Waterbury
Companies, LLC, as Purchaser, with an effective date of June 26, 2006, for the
sale of approximately 12 acres of land located adjacent to the Company's Officer
      Headquarters and Manufacturing Plant in Birmingham, Alabama.

                                       59
<PAGE>

                          PURCHASE AND SALE AGREEMENT

GOLDEN FAKE SNACK FOODS, INC., a Delaware  corporation  ("Seller") as owner of a
parcel of land more fully described below (the "PROPERTY") hereby agrees to sell
and EDUCATIONAL DEVELOPMENT COMPANY OF AMERICA, LLC & WATERBURY COMPANIES,  LLC,
or assigns ("PURCHASER") hereby agrees to purchase the Property on the terms and
conditions described as follows:

1.   PROPERTY            An undeveloped parcel of approximately 12 acres of land
                         located on Golden Flake Dr., City of Birmingham,
                         Alabama, more particularly described at:

                           Lot 2, according to the survey of Golden Flake, Inc.,
                           Resurvey No. 2, as recorded in May Book 174 Page 28,
                           in the Probate Office of Jefferson County,
                           Alabama.

               Parcel ID:  Parcel ID# 29-00-02-1-015-003.000, as such parcel is
                           depicted on Exhibit "A",

                           together with all rights and appurtenances thereto

2.   THE PURCHASE PRICE    $ 1,500,000.00, (see paragraph 1 of Addendum) as
                           payable as follows:

     EARNEST MONEY         $ 15,000.00, initially. The Earnest Money shall
                           be increased by $15,000 on the 61th and 180th days
                           following the Contract Date, such that the Purchaser
                           shall have deposited a total of $45,000.00 of
                           Earnest Money with the Title Company.

  CASH on closing
    this sale              $ 1,455,000.00

3.   AGENCY DISCLOSURE:    The listing company is: N/A

                           The selling company is: SLOSS REAL ESTATE COMPANY,
                           INC.

The selling company is: (Two blocks may be checked) [ ] An agent of the seller.
[X] An Agent of the buyer.

[ ] An agent of both the seller and buyer and is acting as a limited consensual
    dual agent.
[ ] Assisting the [ ] buyer [ ] seller (check one or both) as a transaction
    broker.

PURCHASER'S INITIALS __________________          SELLER'S INITIALS___________

PURCHASE AND SALE AGREEMENT

                                       60
<PAGE>

4.   CONDITION   OF   PROPERTY:   Neither   Seller  nor  any  Agent   makes  any
     representations  or  warranties  regarding  the  condition of the Property.
     Purchase has the obligation to determine,  either  personally or through or
     with a representative  of Purchaser's  choosing,  any and all conditions of
     the Property material to Purchaser's decision to buy the Property.

a.   Seller shall not be required to make any repairs to the Property. Purchaser
     accepts the Property in its present "AS IS" condition,  including  ordinary
     wear  and  tear to the  closing  date.  However,  if the  Property  suffers
     material  damage  beyond  ordinary wear and tear prior to the closing date,
     Purchaser  may either  proceed with the closing or cancel the Agreement and
     recover  the  earnest  money by  notifying  the  Seller in  writing  of the
     cancellation  prior to the expiration of the Inspection Period. It shall be
     the responsibility of Purchaser to inspect the Property prior to closing.

b.   Within 180 days of the date of this  Agreement (the  "Inspection  Period"),
     Purchaser  may perform  all manner of due  diligence  investigations  on or
     about  the  Property,   including  but  not  limited  to  soils  and  other
     geotechnical  studies,  financial and market feasibility  studies.  If such
     investigations are not satisfactory to Purchaser, Purchaser may at its sole
     option  rescind this  Agreement by written notice to Seller and the earnest
     money shall be refunded.

5.   EARNET MONEY & PURCHASERS' DEFAULT:  Purchaser will deliver,  with Ten (10)
     business days from mutual execution of this Agreement to Land Title Company
     of Alabama Inc., 600 North 20th Street,  Birmingham,  Alabama 35203,  local
     agent for Chicago Title  Insurance  Company,  Inc.  (the "Title  Company"),
     funds in the amount of Fifteen  Thousand and 00/100 ($15,000) (the "Earnest
     Money").  Should  Purchaser elect not to purchase the Property  pursuant to
     paragraph 4, 13 or as it is otherwise entitled to under this Agreement, the
     Earnest  Money,  together  with  interest,  if any shall be refunded to the
     Seller and this Agreement shall terminate.  In the event Purchaser fails to
     carry out an perform the term's of this Agreement,  the earnest money shall
     be  forfeited  as  liquidated  damages as the sole and  complete  remedy of
     Seller,  provides Seller agrees to the  cancellation of this Agreement.  In
     the  event  Seller  fails  to carry  out and  perform  their  terms of this
     Agreement,  Purchaser  shall be entitled to  specific  performance  of this
     Agreement by the Seller under any applicable laws of the  jurisdiction.  If
     this Agreement does not close and the earnest money is to be turned over to
     Seller or refunded to  Purchaser  pursuant  to this  Agreement,  Seller and
     Purchaser agree to execute a written release to the Agent and Title Company
     affirming the property  disposition of the earnest money. In the event both
     Seller  and  Purchaser  claims  the  earnest  money,  or  either  Seller or
     Purchaser  refuses  or fails to execute a release,  the Title  Company  may
     interplead the disputed  portion of the earnest money into court, and shall
     be entitled to deduct or recover  from the earnest  money for court  costs,
     attorney fees and other  expenses  relating to the  interpleaded.  When the
     earnest  money  is a  check  and  the  check  is  returned  by a  financial
     institution as unpaid,  Seller has the right to void the Agreement  without
     further recourse on the part of the Purchaser.

PURCHASE AND SALE AGREEMENT

                                       61
<PAGE>

6.   CONVEYANCE:  Seller  agrees to convey the  Property to Purchaser by general
     warranty deed,  free of all  encumbrances  except as herein set forth,  and
     Seller agrees that any  encumbrances not herein excepted or assumed will be
     cleared at not cost to the  Purchaser at the time of closing.  The Property
     is sold and is to be  conveyed  free and clear of all  leases,  management,
     vendor,  maintenance  or other  agreements,  and free of any  agreement  or
     obligation to pay future  commissions or fees of any type or nature related
     to the  Property  or its use,  and  subject  only to (i) mineral and mining
     rights not owned by Seller but  revealed  to  Purchaser  as part of the Due
     Diligence  Materials;  and  (ii) all  easements  affecting  the  Property,
     including   utility   easements   serving  the   Property,   covenants  and
     restrictions, and building lines of record but only as such items have been
     disclosed to Purchaser as part of the Due Diligence Materials. The Property
     (ii) is [ ] is not [X] unknown [ ] located in a flood plain.

7.   TITLE  INSURANCE:  Seller,  as its cost,  agrees  to  furnish  Purchaser  a
     standard  form title  insurance  policy  issued by the Title Company in the
     amount of the purchase price, insuring Purchaser against loss on account of
     any defect or encumbrance in the title,  subject to the exception set forth
     in paragraph 6 hereof.

8.   SURVEY:  Purchaser  does  [X] does not [ ]  (check  one)  require  a survey
     ("Survey") by a registered  Alabama land surveyor of Purchaser's  choosing.
     The Survey  shall be at  Purchaser's  [X]  Seller's [ ] expense.  Purchaser
     shall provide Seller and the Title Company with a copy of the Survey within
     20 days prior to closing.

9.   PRORATIONS:  Ad valorem taxes are to prorated  between Seller and Purchaser
     as of the  date  of  closing,  and  any  advance  escrow  deposits  held by
     Mortgagees shall be credited to Seller. UNLESS AGREE HEREIN, ALL AD VALOREM
     TAXES EXCEPT  MUNICIPAL  ARE PRESUMED TO BE PAID IN ARREARS FOR PURCHASE OF
     PRORATION; MUNICIPAL TAXES, IF ANY, ARE PRESUMED TO BE PAID IN ADVANCE.

10.  CLOSING & POSSESSION DATES: The sale shall be closed and the deed delivered
     on or before ninety 90 days following  expiration of the Inspection Period.
     Possession is to be given on delivery of the deed of the Property.

11.  DISCLAIMER: Seller and Purchaser acknowledge that they have not relied upon
     advice or representations  of Agent (or Agent's associated  salesperson(s))
     relative to (i) the legal or tax  consequences  of this  Agreement  and the
     sale, purchase or ownership of the Property;  (ii) the structural condition
     of the  Property,  including  condition  of the  roof and  basement;  (iii)
     construction  materials;  (iv) the nature and  operating  condition  of the
     electrical, heating, air conditioning,  plumbing, water heating systems and
     appliances;  (vii) the investment or resale value of the Property including
     projections of income or operating expenses; (viii) compliance requirements
     of the Americans and  Disabilities  Act; (ix) the existence of hazardous or
     toxic waste,  substance,  or material,  including  without  limitation  any
     asbestos  or any oil or  pesticides;  (x) any state of facts which would be
     disclosed by an accurate survey of the Property;  or (xi) any other matters
     affecting  their  willingness to sell or purchase the Property on the terms
     and price herein set forth.  Seller and Purchaser  acknowledge that if such
     matters  are of concern to them in the  decision  to sell or  purchase  the
     Property,  they  have  sought  and  obtained  independent  advice  relative
     thereto.

PURCHASE AND SALE AGREEMENT

                                       62
<PAGE>

12.  SELLER WARRANTS: that unless excepted herein or as delivered as part of the
     Due Diligence Materials,  (i) Seller has not received notification from any
     lawful authority  regarding any assessments,  pending public  improvements,
     repairs, replacements, or alterations to the Property, (ii) Seller warrants
     that Seller is the fee owner of the Property, and (iii) the Property is not
     subject to any  assessments  of any kind (other  than real  estate  taxes).
     Except as disclosed in the Phase II  Environmental  Site  Assessment of the
     Property prepared by Bhate Environmental Associates,  Inc., dated September
     2004,  a copy of which  has  been  delivered  to the  Seller.  Seller  also
     represents  that, to the best of its knowledge,  except as may otherwise be
     expressly  disclosed  herein,  Seller has not  released  or disposed of any
     hazardous  or  toxic  waste,  substance  or  material,   including  without
     limitation any asbestos or any oil or pesticides (collectively,  "Hazardous
     Substance"),  on or about the Property; has not disposed of or arranged for
     the  disposition of any Hazardous  Substances  from the Property  except in
     compliance  with  all  applicable  federal,  state or  local  laws;  and no
     Hazardous  Substances  exist on the  Property  or about the  Property  that
     threaten the Property. Seller warrants that the Due Diligence Materials are
     complete,  true and correct to the best of its knowledge and belief.  THESE
     WARRANTIES SHALL SURVIVE THE DELIVERY OF THE DEED. Seller makes no warranty
     that the Property is not suitable for any particular purpose,  nor that the
     Property is in  compliance  with the  requirements  of the  Americans  with
     Disabilities Act.

13.  RISK OF LOSS: If the Property is materially damaged between the date hereof
     and the  closing,  and Seller is unable or  unwilling  to restore it to its
     previous  condition  prior to closing,  Purchaser  shall have the option of
     canceling  this Agreement and receiving the Earnest Money back or accepting
     the Property in its then condition.

14.  FOREIGN  INVESTMENT IN REAL  PROPERTY TAX ACT  (FIRPTA):  In the closing of
     this transaction, Seller and Purchaser shall comply with the FIRPTA and the
     regulations promulgated there under by the IRS.

15.  SELECTION OF ATTORNEY: Each of the parties acknowledges that it has a right
     to be  represented  at all times in connection  with this Agreement and the
     closing by an attorney of its own choosing, at its own expense.

16.  ASSIGNMENT:   Purchaser  reserves  the  right  to  assign  this  Agreement,
     including  the right to effect and  satisfy a  like-kind  exchange.  Seller
     agrees to reasonably  cooperate with  Purchaser to accomplish  this intent,
     including  consent to such  assignment  to a qualified  intermediary  or to
     another  entity,  so long as no  additional  cost or delay is  incurred  by
     Seller.

PURCHASE AND SALE AGREEMENT

                                       63
<PAGE>

17.  ADDITIONAL PROVISIONS: The Addendum and Exhibit A are hereby made a part of
     this Agreement.

18.  FACSIMILE AND  COUNTERPART  SIGNATURES:  This  agreement may be executed in
     counterparts  and by  either  party  or by  both  parties  by  telecopy  or
     facsimile  and shall be binding upon the party so executing it upon receipt
     by the other party of the signature.

19.  ENTIRE  AGREEMENT:  This Agreement and its Exhibit A and Addendum  attached
     hereto  constitute  the  entire  agreement  between  Purchaser  and  Seller
     regarding the Property,  and supersede all prior discussions,  negotiations
     and  agreements  between  Purchaser  and Seller,  whether  oral or written.
     Neither Purchaser, Seller, Agent nor any sales agent shall be bound by any
     understanding,   agreement,   promise,  or  representation  concerning  the
     Property,  expressed or implied,  not specified herein. Any further changes
     or  modifications  to this  Agreement  must be in writing and signed by the
     parties hereto.

20.  COMMISION:  THE COMMISION  PAYABLE TO THE BROKER(S) IN THIS ALES IS NOT SET
     BY THE  BIRMINGHAM  ASSOCIATION OF  REALTORS(R),  INC., BUT IN ALL CASES IS
     NEGOTIABLE BETWEEN THE AGENT AND THE CLIENT.

Purchaser  warrants that in connection with this purchase and sale Purchaser has
not dealt with any Agent other than Sloss Real Estate Company, Inc.

In this  Agreement [ ] Seller [X]  Purchaser  agrees to pay to Sloss Real Estate
Company, Inc., Agent in this transaction, in CASH at closing, a commission equal
to 5% of the Purchase Price.

THIS  AGREEMENT  IS INTENDED TO BE A LEGALLY  BINDING  AGREEMENT.  IF YOU DO NOT
UNDERSTAND  THE LEGAL  EFFECT OF ANY PART OF THIS  AGREEMENT,  SEEK LEGAL ADVICE
BEFORE SIGNING.

                                               PURCHASER:

                                               EDUCATIONAL DEVELOPMENT
                                               COMPANY OF AMERICA, LLC

-----------------------------------            By:
                                               --------------------------------

Witness to Purchaser's Signature               Its Authorized Member (DATE)

-----------------------------------            By:
                                               --------------------------------

Witness to Purchaser's Signature               Its Authorized Member (DATE)

PURCHASE AND SALE AGREEMENT

                                       64
<PAGE>

                                               SELLER:
                                               GOLDEN FLAKE SNACK FOODS, INC.

-----------------------------------            By:
                                               --------------------------------

Witness to Purchaser's Signature               Its 06-26-06      (DATE)

                                       65
<PAGE>

                                    ADDENDUM

1.   The Purchase  Price is based on 12 acres value at $125,000 per acre. To the
     extent the Survey or Title  Commitment  reveals  that the  Property is less
     than 12 acres,  the Purchase Price shall be reduced by $125,000  multiplied
     by the difference  between 12 acres and the number of actual acreage of the
     Property as shown by the Survey.  The Survey  shall  disclose the number of
     acres to the nearest one hundredths (1/100th) of an acre.

2.   Extension of Inspection  Period.  If third party studies reveal any adverse
     environmental,  geotechnical  conditions or rezoning  classifications which
     might  adversely  affect  the  immediate  multi-family  development  of the
     Property, then upon written notice to Seller (which shall include copies of
     such third-party  reports),  the Inspection Period may be extended by up to
     two (2) 90 days periods from its current expiration date.

3.   Entitlements. Purchaser shall seek time being of the essence, any municipal
     or other governmental entitlements (zoning, permitting, etc.) necessary for
     its mixed -use  residential  development of the Property.  Seller agrees to
     reasonably  cooperate with Purchaser (including joining in any application
     for such entitlements) so long as such actions do not decrease the value of
     the Property,  create a use on the Property  that is materially  adverse to
     the Seller's  property  holdings  adjacent to the Property,  and so long as
     such actions are at not cost to Seller.

4.   The "Contract  Date" shall be the last date upon which  Purchaser or Seller
     have agreed to and executed this Agreement.

5.   Due Diligence Materials: Seller shall provide Purchaser with legible copies
     of the  following  information  to the  extent  the  same  are in  Seller's
     possession  or Seller can  reasonable  obtain the same (the "Due  Diligence
     Information"):

a.   Most recent title policy and copies of all exceptions and other  agreements
     of records affecting the Property;

b.   Agreements  of any kind or nature that will affect the  Property  after the
     closing date,  including  any copies of any  environmental  or  engineering
     studies of the Property.

c.   Copy of any environmental due diligence  information,  reports,  testing or
     communications with public or municipal entities.

d.   Copy of the most  current  survey and title  insurance  commitment  ("Title
     Commitment")   issued  by  the  Title   Company  to  Purchaser   (including
     instruments pertaining to any exceptions). if any, of the Property;

e.   Copy of the most recent municipal tax  assessment(s)  and any all other
     governmental notices;

f.   During the term of this  Agreement,  Seller  shall  notify  Purchase of any
     material change in the Due Diligence Information.

PURCHASE AND SALE AGREEMENT

                                       66
<PAGE>

                                               PURCHASER:

                                               EDUCATIONAL DEVELOPMENT
                                               COMPANY OF AMERICA, LLC

-----------------------------------            By:
                                               --------------------------------

Witness to Purchaser's Signature               Its Authorized Member (DATE)

                                               WATERBURY COMPANIES, INC.

-----------------------------------            By:
                                               --------------------------------

Witness to Purchaser's Signature               Its Authorized Member (DATE)

                                               SELLER:
                                               GOLDEN FLAKE SNACK FOODS, INC.

-----------------------------------            By:
                                               --------------------------------

Witness to Purchaser's Signature               Its 06-26-06      (DATE)

PURCHSE AND SALE AGREEMENT

                                       67
<PAGE>

                                   EXHIBIT "A"

                                [GRAPHIC OMITTED]

                                       68

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