Document:

Exhibit 10.1

    Exhibit
      10(I)

    

    STOCK
      PURCHASE AND RELEASE AGREEMENT

    

    THIS
      STOCK PURCHASE AND RELEASE AGREEMENT ("Agreement")
      is
      executed this 8th
      day of
      August 2005 by and between Diversified Holdings I, Inc., a Nevada corporation
      ("DHI"),
      and
      Diversified Holdings XIX, Inc., a Nevada corporation ("DHX"),
      West
      Jordan Real Estate Holdings, Inc., a Utah corporation (“WJRH”), and Diversified
      Financial Resources Corporation, a Delaware corporation (“DFRC”), BTA Mineral
      Servitude Corporation S.A. de C.V. a foreign corporation (“BTA”) and Salt Lake
      Development Corporation, a Nevada corporation and successor in interest to
      a
      Utah corporation of the same name (“SLDC”).

    

    Recitals

    

    DHI
      desires to purchase and acquire Salt Lake Development Corporation, the current
      owner and holder of a parcel of real estate and improvements thereon identified
      as follows:

     

         
      Two
      story office building located at 268 West 400 South, Salt Lake City, Utah 84101,
      building contains 15,000 square feet.

    

    DHI
      shall
      transfer to DFRC a cash payment in the sum of Twenty Thousand dollars ($20,000),
      WJRH shall release and indicate as paid in full all obligations arising under
      that Promissory Note, (“Note”) in the face amount of Two Hundred Thirty Thousand
      dollars ($230,000), including all interest, security, and any other obligation
      or right held by the holder of the said Note, and DHI and WJRH shall settle
      and
      resolve accounts payable of DFRC to Hudson Consulting Group, Inc. in the
      approximate sum of Ten Thousand Five Hundred Twenty Seven and 96/100 dollars
      ($10,527.96), DFRC, or its related entities shall transfer to DHI One Million
      (1,000,000) shares of the common stock of Salt Lake Development Corporation,
      a
      Nevada corporation and any and all issued and outstanding shares of a Utah
      corporation of the same (the "Shares")
      and
      hereby warrants that such shares represent 95% or more of all issued and
      outstanding shares of both the Nevada and the Utah corporations known as Salt
      Lake Development Corporation and that the said corporation holds good and legal
      title to the above referenced parcel(s) or real estate subject only to the
      one
      disclosed mortgage on the property.

     

    
      
        
        

      

      
        1

        
          

        

      

      
        
        

      

    

     

    Agreement

    

    In
      consideration of the mutual promises, covenants, and agreements contained in
      this Agreement, and for other good and valuable consideration, the receipt
      and
      sufficiency of which is acknowledged by all the parties, the parties hereby
      agree as follows:

    

    
      	
              1.

            	
              Purchase
                and Sale of Shares.
                DFRC agrees to transfer the Shares to DHI, and DHI agrees to acquire
                the
                Shares from DFRC. Immediately after DFRC receives a duly executed
                copy of
                this Agreement, it will deliver the Shares to DHI and DHI shall deliver
                the promised cash payment and WJRH hereby grants a full and complete
                release of the Note of which DFRC and BTA are
                makers.

            

    

     

    
      	
              2.

            	
              Purchase
                Price.
                As
                consideration for the Shares, DHI shall transfer to DFRC as full
                and fair
                consideration for the purchase of the said Shares total consideration
                that
                shall total the amount of Twenty Thousand dollars ($20,000), DHI
                and WJRH
                shall also obtain the release of $10,527.96 of debt or obligations
                of DFRC
                owed to Hudson Consulting Group, Inc. and shall indemnify and hold
                DFRC
                harmless from any such claims or
                obligations.

            

    

    

    
      	
              3.

            	
              Representation
                and Warranties of DHI.
                DHI represents and warrants that:

            

    

    

    
      	 	
              a.

            	
              DHI
                is an entity incorporated under the laws of the State of
                Nevada.

            

    

    

    
      	 	
              b.

            	
              DHI
                has such knowledge and expertise in financial and business matters
                that it
                is capable of evaluating the merits and substantial risks of the
                purchase
                of the Shares and is able to bear the economic risks relevant to
                the
                purchase of the Shares hereunder.

            

    

    

    
      	 	
              c.

            	
              DHI
                is relying solely upon independent consultation with its professional,
                legal, tax, accounting and such other advisors as DHI deems to be
                appropriate in purchasing the Shares; DHI has been advised to, and
                has
                consulted with, its professional tax and legal advisors with respect
                to
                any tax consequences of purchasing the
                Shares.

            

    

    

    
      	 	
              d.

            	
              DHI
                understands that DFRC and the other parties hereto are relying upon
                DHI's
                representations and warranties as contained in this Agreement in
                consummating the sale and transfer of the
                Shares.

            

    

    

    
      	 	
              e.

            	
              DHI
                understands and hereby release any claim or right to a promissory
                note
                made payable to SLDC, or its assigns, arising from the sale or transfer
                of
                four condominium units located in the City of Ogden, State of Utah,
                all
                proceeds and rights from the said note are and shall remain the property
                of DFRC or its assigns.

            

    

    

    
      	 	
              f.

            	
              DHI
                acknowledges and understands that DFRC has disclosed the status of
                the
                mortgage payments on a loan secured by the real property and DHI
                acknowledges receipt of information showing that two months of payments
                are past due as of the date of this agreement and shall assume all
                liability for bringing the debt obligation of SLDC with regard to
                the
                property into a current status.

            

    

    

    
      
        
        

      

      
        2

        
          

        

      

      
        
        

      

    

     

    4. Representations
      and Warranties of DFRC.
      DFRC
      represents and warrants that:

    

    
      	 	
              a.

            	
              DFRC
                is a corporation duly organized and validly existing under the laws
                of the
                State of Delaware.

            

    

    

    
      	 	
              b.

            	
              DFRC
                has valid title to the Shares which it is transferring to DHI pursuant
                to
                this Agreement. There are no claims, liens, security interests, or
                other
                encumbrances upon the Shares.

            

    

    

    
      	·  	
              DFRC
                is relying solely upon its independent consultation with its professional,
                legal, tax, accounting and such other advisors as DFRC deems to be
                appropriate in transferring the Shares and in acquiring the corporate
                interests identified herein. DFRC has been advised to, and has consulted
                with, its professional tax and legal advisors with respect to any
                tax
                consequences of transferring the
                Shares.

            

    

    

    
      	 	
              d.

            	
              All
                corporate action on the part of DFRC required for the lawful execution
                and
                delivery of this Agreement and the issuance, execution and delivery
                of the
                Shares has been duly and effectively taken. Upon execution and delivery,
                this Agreement will constitute a valid and binding obligation of
                DFRC,
                enforceable in accordance with its terms, except as the enforceability
                may
                be limited by applicable bankruptcy, insolvency or similar laws and
                judicial decisions affecting creditor’s
                rights generally.

            

    

    

    
      	 	
              e.

            	
              DFRC
                further represents that all property taxes have been paid through
                the
                current taxing period on the above described real property,. DFRC
                also
                represents that as of the date of execution hereof all utilities
                and
                operational obligations of the real estate are current and paid in
                full.

            

    

    

    
      	 	
              f.

            	
              DFRC
                has disclosed the status of the mortgage payments on a loan secured
                by the
                real property and DHI acknowledges receipt of information showing
                that two
                months of payments are past due as of the date of this agreement
                and shall
                assume all liability for bringing the debt obligation of SLDC with
                regard
                to the property into a current
                status.

            

    

    

    
      	
              5.

            	
              Survival
                of Representations, Warranties and Covenants.
                The representations, warranties and covenants made by DFRC and DHI
                in this
                Agreement shall survive the purchase and sale of the
                Shares.

            

    

    

    
      	
              6.

            	
              Miscellaneous.

            

    

    

    
      	 	
              a.

            	
              In
                the event any one or more of the provisions contained in this Agreement
                are for any reason held to be invalid, illegal or unenforceable in
                any
                respect, such invalidity, illegality or unenforceability shall not
                affect
                any other provisions of this Agreement. This Agreement shall be construed
                as if such invalid, illegal or unenforceable provision had never
                been
                contained herein.

            

    

    

    
      	 	
              b.

            	
              This
                Agreement shall be binding upon and inure to the benefit of the parties
                and their respective heirs, legal representatives, successors, and
                permitted assigns. The parties hereto may not transfer or assign
                any part
                of their rights or obligations except to the extent expressly permitted
                by
                this Agreement.

            

    

    

    
      	 	
              c.

            	
              This
                Agreement constitutes the entire agreement and understanding between
                the
                parties with respect to the sale of the Shares and may not be modified
                or
                amended except in writing signed by both
                parties.

            

    

    

    
      	 	
              d.

            	
              No
                term or condition of this Agreement shall be deemed to have been
                waived
                nor shall there be any estoppel to enforce any provision of this
                Agreement
                except by written instrument of the party charged with such waiver
                or
                estoppel.

            

    

    

    
      	e.  	
              The
                validity, interpretation, and performance of this Agreement shall
                be
                governed by the laws of the State of Utah, without regard to its
                law on
                the conflict of laws. Any dispute arising out of this Agreement may
                be
                brought in a court of competent jurisdiction in Salt Lake County,
                State of
                Utah. The parties exclude any and all statutes, laws and treaties
                which
                would allow or require any dispute to be decided in another forum
                or by
                other rules of decision than provided in this Agreement.

            

    

    

    
      
        
        

      

      
        3

        
          

        

      

      
        
        

      

    

    

    IN
      WITNESS WHEREOF,
      the
      parties have executed this Stock Purchase and Release Agreement as of the day
      and year first appearing herein.

     

     

    
      	Diversified
              Holdings I, Inc.	 	 	Diversified
              Financial Resources Corporation
	 	 	 	 
	/s/ Richard
              Surber	 	 	/s/ Dennis
              Thompson
	
              
                

                Richard Surber

              President

            	 	 	
              
                

                Dennis Thompson

              President

            

    

     

    

    
      	West Jordan Real Estate Holdings, Inc.	 	 	Salt Lake Development Corporation
	 	 	 	 
	/s/ Richard
              Surber	 	 	/s/ Dennis
              Thompson
	
              
                

                Richard Surber

              President

            	 	 	
              
                

                Dennis Thompson

              President

            

    

     

     

    
      	BTA Mineral Servitude Corporation S.A. de
              C.V.	 	 	Diversified Holdings XIX, Inc.
	 	 	 	 
	/s/ John
              Chapman	 	 	/s/ Dennis
              Thompson
	
              

              John Chapman	 	 	
              

              Dennis Thompson

    

     

    
 

    
      
        
        

      

      
        4Largo 8-K re Shabghai Oil extension Ex10-1 press release

     

    

     

     

    Exhibit
      10.1

     

     

    

     

     

    

     

     

    Largo
      Vista Group to Continue to Work with Shanghai Offshore Oil
      Group

     

     

    Friday
      September 9, 3:00 pm ET 

     

    NEWPORT
      BEACH, Calif.--(BUSINESS WIRE)--Sept. 9, 2005--Previously, Largo Vista Group
      Ltd. (OTCBB:LGOV
      -
News)
      announced that it had given Shanghai Offshore Oil Group (HK) Ltd. until Aug.
      31,
      2005, to deliver funds to Largo Vista under their contract of March 18, 2005.
      Although Shanghai Oil has not met this deadline, Largo Vista has decided that
      it
      is in the best interests of the company and its shareholders to continue to
      work
      with Shanghai Oil to meet its obligations under the contract with them. Although
      Shanghai Oil has assured Largo Vista that it will fulfill its obligations under
      the contract, there can be no assurances that it will be able to do so and
      Largo
      Vista will not deliver any of the shares of its common stock under the contract
      until funds have been delivered to Largo Vista by Shanghai Oil. 

     

    The
      forward-looking statements in this release are made pursuant to the safe harbor
      provisions of the Private Securities Litigation Reform Act of 1995. Actual
      results may differ materially due to a variety of factors, including without
      limitation the company's ability to produce and market products and/or services
      and other risks detailed from time to time in their company's reports with
      the
      Securities Exchange Commission. 

     

     

    Contact: 

    Largo
      Vista Group

    Investor
      Relations, 949-252-2180

     

    Source:
      Largo Vista Group Ltd.

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