Document:

Exhibit 10.18(3)

 

AMENDMENT NO. 2

TO AMENDED AND RESTATED

MASTER REPURCHASE AGREEMENT

 

Amendment No. 2, dated as of February 22,
2005 (this “Amendment”),
among CREDIT SUISSE FIRST BOSTON MORTGAGE CAPITAL LLC (the “Buyer”), FIELDSTONE
MORTGAGE COMPANY (a “Seller”)
and FIELDSTONE INVESTMENT CORPORATION (a “Seller” and, together with Fieldstone Mortgage
Company, the “Sellers”).

 

RECITALS

 

The Buyer and the Sellers are parties to that certain
Amended and Restated Master Repurchase Agreement, dated as of April 5,
2004, as amended by
Amendment No. 1, dated as of July 8, 2004 (the “Existing Repurchase Agreement”;
as amended by this Amendment, the “Repurchase Agreement”).  Capitalized terms used but not otherwise
defined herein shall have the meanings given to them in the Existing Repurchase
Agreement.

 

The Buyer and the Sellers have agreed, subject to the
terms and conditions of this Amendment, that the Existing Repurchase Agreement
be amended to reflect certain agreed upon revisions to the terms of the
Existing Repurchase Agreement.

 

Accordingly, the Buyer and the Sellers hereby agree,
in consideration of the mutual premises and mutual obligations set forth
herein, that the Existing Repurchase Agreement is hereby amended as follows:

 

SECTION 1.   Definitions.  Section 2
of the Existing Repurchase Agreement is hereby amended by deleting the
definition of “Termination Date” in its entirety and replacing it with the
following language:

 

“Termination Date”
means the earlier of (a) March 31, 2005 and (b) the date of the
occurrence of an Event of Default.

 

SECTION 2.   Conditions
Precedent.  This Amendment shall
become effective on February 22, 2005 (the “Amendment Effective Date”), subject to the
satisfaction of the following conditions precedent:

 

2.1                                 Delivered
Documents. On the Amendment Effective Date, the Buyer shall have received
the following documents, each of which shall be satisfactory to the Buyer in
form and substance:

 

(a)                                  this
Amendment, executed and delivered by a duly authorized officer of the Buyer and
Sellers;

 

(b)                                 such
other documents as the Buyer or counsel to the Buyer may reasonably request.

 

SECTION 3.   Representations
and Warranties.  Each of the Sellers
hereby represents and warrants to the Buyer that they are in compliance with
all the terms and

 

1

 

provisions set forth in
the Repurchase Agreement on their part to be observed or performed, and that no
Event of  Default has occurred or is
continuing, and hereby confirm and reaffirm the representations and warranties
contained in Section 13 of the Repurchase Agreement.

 

SECTION 4.   Limited
Effect.  Except as expressly amended
and modified by this Amendment, the Existing Repurchase Agreement shall
continue to be, and shall remain, in full force and effect in accordance with
its terms.

 

SECTION 5.   Counterparts.
This Amendment may be executed by each of the parties hereto on any number of
separate counterparts, each of which shall be an original and all of which
taken together shall constitute one and the same instrument.

 

SECTION 6.   GOVERNING LAW. THIS AMENDMENT SHALL BE
GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW
YORK WITHOUT REFERENCE TO THE CHOICE OF LAW PROVISIONS THEREOF.

 

[SIGNATURE PAGE FOLLOWS]

 

2

 

IN WITNESS WHEREOF, the parties have caused their
names to be signed hereto by their respective officers thereunto duly
authorized as of the day and year first above written.

 

	
  Buyer:

  	
   

  	
  CREDIT
  SUISSE FIRST BOSTON

  
	
   

  	
   

  	
  MORTGAGE
  CAPITAL LLC,

  
	
   

  	
   

  	
  as
  Buyer

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
    /s/ Bruce S. Kaiserman

  	
   

  
	
   

  	
   

  	
   

  	
  Name: Bruce S.
  Kaiserman

  
	
   

  	
   

  	
   

  	
  Title: Vice
  President

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  Seller:

  	
   

  	
  FIELDSTONE
  MORTGAGE COMPANY,

  
	
   

  	
   

  	
  as
  Seller

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
    /s/ Mark
  C. Krebs

  	
   

  
	
   

  	
   

  	
   

  	
  Name: Mark C.
  Krebs

  
	
   

  	
   

  	
   

  	
  Title: Sr. Vice
  President & Treasurer

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  Seller:

  	
   

  	
  FIELDSTONE
  INVESTMENT

  CORPORATION,

  
	
   

  	
   

  	
  as
  Seller

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
    /s/ Robert G. Partlow

  	
   

  
	
   

  	
   

  	
   

  	
  Name: Robert G.
  Partlow

  
	
   

  	
   

  	
   

  	
  Title: Sr. Vice
  President & CFOExhibit 10.1

 

 

STOCK PURCHASE AGREEMENT

 

 

BY AND BETWEEN

 

 

BLUE WIRELESS & DATA, INC.

 

AND

 

GREG MARTIN and STEVEN BENAVIDES

 

FOR

 

DSG TECHNOLOGY, INC. d/b/a PANABAND

 

 

MARCH 15, 2005

 

 

 

	
  Initials:

  	
   

  	
   

  

 

 

1

 

STOCK
PURCHASE AGREEMENT

 

	
  Date:

  	
   

  	
  March
  15, 2005

  
	
   

  	
   

  	
   

  
	
  Sellers:

  	
   

  	
  GREG
  MARTIN

  
	
   

  	
   

  	
  6032
  Canvas Back Dr., Frisco, TX 75034

  
	
   

  	
   

  	
  fax:
  (214) 853-5538

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  STEVEN
  BENAVIDES

  
	
   

  	
   

  	
  1740
  Elmhurst Ct., Prosper, TX 75078

  
	
   

  	
   

  	
  fax:
  (214) 853-5538

  
	
   

  	
   

  	
   

  
	
  Buyer:

  	
   

  	
  BLUE
  WIRELESS & DATA, INC.

  
	
   

  	
   

  	
  3001
  Knox St., Suite 401, Dallas, TX 75205

  
	
   

  	
   

  	
  Contact:
  John W. Mills, III, COO

  
	
   

  	
   

  	
   

  
	
  Company:

  	
   

  	
  DSG
  TECHNOLOGY, INC. d/b/a PANABAND

  
	
   

  	
   

  	
  4760
  Preston Road, Suite 244-272, Frisco, Texas 75034

  
	
   

  	
   

  	
   

  
	
  Interest:

  	
   

  	
  100%
  of the equity ownership of Company, its capital accounts, all rights

  
	
   

  	
   

  	
  represented
  by such equity interests, and all goodwill associated therewith.

  
	
   

  	
   

  	
   

  
	
  Consideration:

  	
   

  	
  The “Consideration” shall be inclusive of all of the following:

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  1.

  	
  A Convertible Debenture in the principal amount of $1,000,000, which
  is attached hereto as Exhibit 1; and

  
	
   

  	
   

  	
  2.

  	
  A Secured Promissory Note in the principal amount of $445,092,
  secured by a Stock Pledge Agreement, both of which are attached hereto as
  Exhibit 2.

  

 

Recitals

WHEREAS:

 

A.    The Company is engaged in the provision of
broadband wireless Internet service.

B.    Sellers are the sole shareholders of the
Company.

C.    Buyer wishes to pay Sellers the Consideration
for the purchase of the Interest, and upon the terms and subject to the
conditions set forth in this Agreement.

D.    Sellers wish to sell Buyer the Interest in
exchange for the Consideration, and upon the terms and subject to the
conditions set forth in this Agreement.

 

Agreement

 

NOW, THEREFORE, in consideration of the foregoing premises and the
representations, warranties, and covenants hereinafter set forth, and for other
good and valuable consideration, including the Consideration as herein defined,
the receipt and sufficiency of which are hereby acknowledged, the parties agree
as follows:

 

1.             Sale and Purchase. 
Subject to the terms and conditions herein set forth, and in reliance
upon the representations, warranties and covenants contained herein, Buyer
agrees to purchase the Interest from Sellers, and Sellers agree to sell the
Interest to Buyer.

 

2.             Purchase Price.   The purchase price for the
Interest shall be the issuance and delivery of the Consideration to Sellers.

 

3.             Closing.  Closing of the transaction
contemplated herein (the “Closing”)
shall take place at the offices of Buyer at 3001 Knox Street, Suite 401 in
Dallas, Texas, at 3:00 P.M. on March     , 

 

2

 

2005, or at such other place, time and date as the parties may mutually
agree in writing.  (The date on which the
Closing is held shall be referred to in this Agreement as the “Closing Date.”).

 

a.     On or before the Closing, Seller shall deliver to Buyer:

 

i.              Fully executed Bill of Sale and Capital Lease
Agreement (Exhibit 3);

 

ii.             Fully executed Confidentiality and
Non-Compete Agreements (Exhibit 4);

 

iii.            All of the Company’s books of account and
business records; including all tangible and intangible assets listed in the
Exhibits to this Agreement, including but not limited to all passwords, access
codes and keys.

 

iv.            The written resignations of all officers,
directors and managers of the Company; and

 

v.             All of Seller’s stock or membership
certificates (if any exist) in the Company, as may be referenced in Exhibit 16
hereto.

 

b.     At the Closing, Buyer shall deliver to Seller:

 

i.              Fully executed Bill of Sale and Capital Lease
Agreement (Exhibit 3);

 

ii.             Fully executed Convertible Debenture (Exhibit
1);

 

iii.            Fully executed Secured Promissory Note
(Exhibit 2); and

 

iv.            Cashier’s Check in the amount of $37,091.00,
as the first payment under the Secured Promissory Note.

 

4.             Allocation of Purchase Price.  The parties agree that the
purchase price shall be allocated as set forth in the Exhibits hereto and that
the allocation shall be used by the parties in reporting the transaction
contemplated by this Agreement for federal and tax purposes.

 

5.             Assumption of Debts. 
Buyer shall assume on the Closing Date all duties and obligations of the
Company pursuant to the contracts, agreements, leases, and payables described
in the Exhibits hereto.  For any taxes
due and payable as of the Closing Date, Seller shall provide Buyer, at closing
with checks made out to the appropriate taxing authorities sufficient to fully
pay all such tax obligations.  Thus,
subject to Buyer delivering those checks to the appropriate taxing authorities,
Seller attests that there are no other taxes payable as to the Company as of
the Closing Date.

 

6.             Representations and
Warranties of Sellers.  Sellers
hereby represent and warrant to Buyer that:

 

a.     Sellers own all of the issued and outstanding
equity ownership interests in the Company.

 

b.     Sellers are the sole and exclusive legal and
beneficial owners of the Interest, free and clear of any and all liens, claims,
and encumbrances, with full power to transfer the same as contemplated herein.

 

c.     The Company is a lawful corporation, validly
existing and in good standing under the laws of the State of Texas.  To the best of Sellers’ knowledge, there are
no pending

 

3

 

actions or proceedings (i)
to limit or impair the Sellers’ or the Company’s power to engage in business or
(ii) to dissolve the Company.

 

d.     Sellers and/or the Company are not party to
or bound by any contract, promissory note, agreement, commitment, or
obligation, creating or securing indebtedness, obligations, or liabilities, a
breach or default of which would be triggered by Sellers’ execution and
delivery of this Agreement.

 

e.     Seller and the Company each has full power
and authority to execute, deliver, and/or consummate this Agreement, subject to
the conditions to Closing set forth in this Agreement. All reports and returns
required to be filed by each with any government and regulatory agency with
respect to this transaction have been properly filed. Except as otherwise
disclosed in this Agreement, no notice to or approval by any other person,
firm, or entity, including governmental authorities, is required of Seller or
Company to consummate the transaction contemplated by this Agreement.

 

f.      No representations, warranty, or covenant
made to Buyer in this Agreement nor any document, certificate, exhibit, or
other information given or delivered to Buyer pursuant to this Agreement
contains or will contain any untrue statement of a material fact, or omits or
will omit a material fact necessary to make the statements contained in this
Agreement or the matters disclosed in the related documents, certificates,
information, or exhibits not misleading.

 

g.     The Company will not enter into any new
contracts or agreements between the date of this Agreement and the Closing,
except in the ordinary course of business.

 

h.     The Company is not in default or in violation
of any law; regulation; court order; or order of any federal, state, municipal,
foreign, or other government department, board, bureau, agency, or
instrumentality, wherever located, that would materially adversely affect its
business or future prospects.

 

i.      The records and statements of the Company
attached in the Exhibits hereto represent an accurate estimate of the Company’s
current financial and legal condition. 
Specifically, there are no liens, debts or claims against any of the
properties and assets of the Company besides those listed in the Exhibits
hereto.  Furthermore, regarding the
Exhibits, Sellers make the following additional representations and warranties:

 

i.              Intangible Assets Exhibits 5 and 6 hereto comprise a true and
complete list of all intangible assets, including all domain and trade names of
the Company, other than those specifically referred to elsewhere in this
Agreement, and the location of evidences of title to such intangible assets.

 

ii.             Fixed Assets  
Exhibit 7 hereto is a true and complete list of all Fixed Assets
(including all Furniture, Fixtures, Equipment and Supplies) of the
Company.  The Company has good and
marketable title to all of its assets and properties, tangible and intangible,
which are material to the Company’s business and future prospects. All of these
assets and properties constitute all of the assets and interests in assets that
are used in the Company’s business. 
Except as listed in the Exhibits hereto, all of these assets are free
and clear of mortgages, liens, pledges, charges, encumbrances, equities,
claims, covenants, conditions, and restrictions. All tangible personal property
of the Company is in good operating condition and repair, ordinary wear and
tear excepted.

 

4

 

iii.            Inventories  
Exhibit 8 hereto comprises a true and complete list of all inventories
of the Company.  All inventories owned by
the Company consist of items of a quality and quantity usable and saleable in
the ordinary course of business by the Company and are of the stated value on
the schedule provided in said Exhibit. All items included in the Inventories
are the property of the Company.  No
items included in the Inventories have been pledged as collateral or are held
by the Company on consignment from others. 
All of the Inventories are substantially free of defects.

 

iv.            Customer Lists  
Exhibit 9 attached to this Agreement is a correct and current list of
all active customers of the Company together with summaries of the customers’
rate plans and contract lengths.  Except
as indicated in said Exhibit, neither the Company nor Sellers have information
or is aware of any facts indicating that any of these customers intend to cease
doing business with the Company or to materially alter the amount of the
business that they are presently doing with the Company.

 

v.             Receivables and Payables Exhibit 10 hereto contains a true and
correct list of all accounts receivable, notes receivable, accounts payable and
notes payable of the Company.  All listed
accounts and notes receivable of the Company, exclusive of any amount noted in
said Exhibit as bad debt reserves on the books of the Company, are bona fide
receivables, arose in the ordinary course of business by the Company, and
require no further performance by the Company. 
No material objection, claim, or offset has been made regarding the
receivables and the receivables are current and collectible in the normal
course of business without resort to litigation or the retention of collection
services.

 

vi.            Claims  
Except as disclosed in Exhibit 11 hereto, there are no pending,
outstanding, or threatened claims; legal, administrative, or other proceedings,
or suits, investigations, inquiries, complaints, notices of violation,
judgments, injunctions, orders, directives, or restrictions against or
involving the Company or any of the assets, properties, or business of the Company
or any of the Company’s managers, members, or employees that will materially
adversely affect the Company, its assets, properties, or business.  To the best of Sellers’ and the Company’s
knowledge and belief, after conducting a due diligence investigation, there is
no basis for any of these proceedings against any of the Company’s assets,
properties, persons, or entities. 
Sellers have furnished or made available to Purchaser copies of all
relevant court papers and other documents relating to the matters set forth in
said Exhibit.  Except as set forth in
said Exhibit, neither Sellers nor the Company is presently engaged in any legal
action to recover monies due the Company or for damages sustained by the Company.

 

vii.           Leases and Contracts  
Exhibits 11 and 12 hereto contain true and correct lists, with copies
when available, of all material oral and written leases, contracts or
arrangements obligating the Company, including without limitation tower leases,
equipment leases, capital leases, union contracts, guarantees, bids,
commitments, joint venture or partnership 

 

5

 

agreements, contracts with municipalities, pledges and other security
agreements, and copies of standard form customer contracts.  For purposes of this paragraph, the term “material
contract” means: (i) one that, if in the ordinary course of business, obligates
the Company in an amount in excess of $500.00, or if the aggregate total of all
contracts from like transactions exceeds such amount; and (ii) one that, if not
in the ordinary course of business, obligates the Company in an amount in
excess of $300.00, or if the aggregate total of all such contracts for like
transactions exceeds such amount.  Said
Exhibit also includes the aggregate dollar value of all contracts that do not
exceed such limits.  Buyer shall have the
right to review any nonmaterial contract upon request.  Said Exhibit also sets forth a list of all
persons or entities whose consents are required to be obtained under any contract
with respect to the consummation of this transaction by Sellers and the
Company.  Except as set forth in said
Exhibit, the Company is not a party to, nor are Company’s assets and properties
bound by, any distributor’s or manufacturer’s representative, agency agreement,
output or requirements agreement, agreement not entered into in the ordinary
course of business, indenture, lease, or any agreement that is unusual in
nature, duration, or amount.  There is no
default or event that with notice, lapse of time, or both will constitute a
default by any party to any of the material contracts listed in said
Exhibit.  The Company has not received
any notice that any party to any of the contracts listed in said Exhibit
intends to cancel or terminate any of the contracts or to exercise or not
exercise any options under any of the contracts, unless stated therein.  Neither Sellers nor the Company is a party
to, nor are Company’s assets or properties bound by, any contract that is
materially adverse to the business, property or financial condition of the
Company, unless stated therein.

 

viii.          Insurance Policies  
Exhibit 14 hereto is a list and description of all insurance policies
concerning the assets and properties of the Company.  All of these policies are in the respective
principal amounts set forth therein.  The
Company has maintained and now maintains insurance on all of the assets and
properties of a type customarily insured, unless otherwise indicated in said
Exhibit. The insurance covers property damage by fire or other casualty, as
well as adequately protects against all normal liabilities, claims, and risks
against which it is customary to insure.

 

ix.            Taxes  
Exhibit 15 hereto comprises a true and complete list of all taxes owed
by the Company.  All federal, state,
local, and foreign income, ad valorem, excise, sales, use, payroll,
unemployment, and other taxes and assessments (“Taxes”) that are due and
payable by Company or by Sellers on behalf of the Company have been properly
computed, duly reported, fully paid, and discharged.  Except as disclosed in the Exhibits hereto,
and paid by Seller at closing under the terms hereof, there are no unpaid Taxes
that are or could become a lien on the property or assets of the Company or
require payment by the Company, except for current Taxes not yet due and
payable.  All current Taxes not yet due
and payable by the Company have been properly accrued on the balance sheets of
the Company.  The Company has not
incurred any liability for penalties, assessments, or interest under the
Internal 

 

6

 

Revenue Code.  No unexpired
waiver executed by or on behalf of Company with respect to any Taxes is in
effect.

 

7.             Representations, Warranties and
Covenants of Buyer. 
Buyer hereby represents and warrants to Sellers that:

 

a.     Buyer is
a corporation duly organized, validly existing and in good standing under the
laws of the state of Delaware and the United States, and it has all requisite
power and authority to enter into, perform and carry out all of its duties and
obligations in the transaction contemplated by this Agreement.

 

b.     The
execution, delivery and performance of this Agreement and the consummation of
the transaction on the part of Buyer contemplated hereunder have been duly
authorized by all necessary corporate action on the part of Buyer.  This Agreement is (or will be when executed
and delivered pursuant hereto) the legal, valid and binding obligation of
Buyer, enforceable in accordance with its terms.

 

c.     Neither
the execution and delivery of this Agreement by Buyer, nor Buyer’s compliance
with any of the terms and provisions of this Agreement, nor the consummation of
the transactions contemplated hereby, will conflict with or result in a
violation of, or constitute a material default under its Bylaws or any other
agreement, contract or commitment to which it is a party; nor will the
performance by Buyer of its obligations hereunder violate any judgment, order,
injunction, decree, regulation or ruling of any court or governmental authority
to which Buyer is subject.

 

d.     Notwithstanding
any other provision hereof, Buyer will not process, sell, lease or otherwise
dispose of all or part of the assets of the Company, except inventory,
identified as such herein, in the ordinary course of business, without the
prior written consent of Sellers, which shall not be unreasonably withheld.

 

e.     Buyer
will preserve the assets of the Company, keep same in good order and repair (at
Buyer’s own risk of loss), and will not waste, destroy,  lose, allow to deteriorate (other than
ordinary wear and tear), or materially modify the Company’s assets.

 

f.      Buyer
will not transfer the stock of the Company to any other person or entity, or
encumber said stock in any way, without the prior written consent of Sellers,
which shall not be unreasonably withheld.

 

8.             Conditions Precedent to
Buyer’s Obligations.  Buyer’s
obligation to purchase the Interests under this Agreement is subject to the
satisfaction, at or before the Closing, of all the following conditions:

 

a.     Seller shall execute and deliver to Buyer the
form of the Bill of Sale attached hereto as Exhibit 3;

 

b.     Seller and all key employees of the Company
and Seller, as identified by Buyer and Seller, shall execute and deliver to
Buyer a confidentiality and non-competition agreement in substantially the
forms attached hereto as Exhibit 4;

 

c.     Seller shall deliver to Buyer all of the
Company’s books of account and business records; including all tangible and
intangible assets listed in the Exhibits to this Agreement, including but not
limited to all passwords, access codes and keys.

 

7

 

d.     Seller shall deliver to Buyer the
resignations of all officers, directors and managers of the Company.

 

e.     Seller shall deliver to Buyer all of Seller’s
stock or membership certificates (if any exist) in the Company, as may be
referenced in Exhibit 16 hereto.

 

9.             Waiver.  Buyer
may waive any or all of these conditions, in whole or in part, without prior
notice; provided, however, that no such waiver of a condition shall constitute
a waiver by Buyer of any of its other rights or remedies, at law or in equity,
for the Seller’s breach of any of its representations, warranties, or covenants
under this Agreement.

 

10.           Company’s and Sellers’
Indemnity.  For a
period of one (1) year after the Closing, the Company and the Sellers shall
indemnify and hold Buyer harmless from and against any and all claims, losses,
costs, expenses, obligations, liabilities, damages, recoveries and deficiencies
(including interest, penalties, and reasonable attorney, expert witness and
consultant fees), incurred by Buyer in connection with the Company’s or the
Sellers’ breach of or failure to perform, any of their representations,
warranties, or covenants in this Agreement.

 

11.           Buyer’s Indemnity.  Buyer shall indemnify and hold
Seller, their successors and assigns, harmless from and against any and all
claims, losses, demands, suits, judgments, costs, expenses, obligations,
liabilities, damages, payments, recoveries and/or deficiencies of any kind and
character whatsoever (including interest, penalties, reasonable attorney,
expert witness and consultant fees) incurred by Seller in connection with the
tower equipment and customer premise equipment more specifically set forth in
Exhibit 12, hereto.

 

12.           Attorney Fees.  If
any legal action or other proceeding is brought for the enforcement of this
Agreement or any other agreement, document, contract, instrument or other
writing entered into in connection herewith, because of an alleged dispute,
breach, default, or misrepresentation, in connection with any of the provisions
of this Agreement or such other writing, the successful or prevailing party
shall be entitled to recover its reasonable attorney fees, and other costs and
expenses, incurred in such action or proceeding, in addition to any other
relief to which it or they may be entitled.

 

13.           Loss and Liens. The risk of any loss, condemnation, or
destruction of all or any part of the Company’s property prior to closing is
upon the Sellers and/or the Company. 
Sellers and/or the Company shall not place, permit, or cause to be
placed any liens or encumbrances on the title to the Company’s property or the
Interest from the date hereof through closing.

 

14.           No Marketing.   No employee, agent or
representative of the Company or the Sellers may engage in marketing, nor
consider offers for selling, transferring, pledging or otherwise encumbering or
alienating the Interest prior to Closing.

 

15.           Notices.  In order to be effective all
notices, consents, approvals and disapprovals (“Notice”) required by this Agreement must be in writing, signed by
an officer or lawful agent of the party giving such Notice, and either (i)
personally delivered; (ii) placed in the mail, properly addressed, with postage
prepaid thereon; or (iii) deposited for delivery by a recognized, private
overnight courier for next business morning delivery, properly addressed, and
with the full waybill prepaid.  Notice
shall be deemed received and effective on the earlier of the date actually
received, or, if applicable, three (3) business days after being sent as
specified in clause (ii) of this paragraph. 
Notices must be addressed to the parties hereto at the addresses first
stated above.

 

16.           Entire Agreement; Amendments.  Each of the parties represents
that no promise or agreement which is not expressed in this Agreement, has been
made to such party in executing this 

 

8

 

Agreement, and neither of
the parties is relying upon any statement or representation not contained in
this Agreement.  This Agreement,
including the Exhibit hereto, constitutes the entire understanding between the
parties hereto relative to the subject matter hereof, superseding any and all
prior agreements, arrangements, and understandings, written or oral, between
the parties.  This Agreement may be
amended only by a written instrument signed by the parties.

 

17.           Binding Effect;
Permissibility of Assignment.  This Agreement and all of the
provisions hereof shall be binding upon and inure to the benefit of the parties
hereto and their respective successors and permitted assigns, and all future
shareholders of the Company.

 

18.           Governing Law and
Jurisdiction.  This
Agreement shall be governed by and construed in accordance with the laws of the
state of Texas, without reference to its conflict of laws rules.  Jurisdiction and venue shall reside
exclusively in the courts of Dallas County, Texas.

 

19.           No Brokers.  Each party represents and
warrants that it has dealt with no broker or finder in connection with the
transaction contemplated by this Agreement, and that no broker or other person
is entitled to any commission or finder’s fee in connection with this
transaction.  Each party agrees to
indemnify, defend and hold harmless the other party against any commission or
finder’s fee alleged to be payable because of any act, omission or statement of
the indemnifying party.

 

20.           Severability.  If
any provision of this Agreement is held to be invalid or unenforceable by any
court of competent jurisdiction, it is the intent of all of the parties that
all other provisions of this Agreement be construed to remain fully valid,
enforceable and binding on the parties.

 

21.           Covenant of Good Faith and Fair
Dealing.  With regard to their respective obligations
and commitments under this Agreement, each of Buyer, Sellers and the Company
covenants that it shall act in good faith and deal fairly with the other party.

 

22.           Reasonable Cooperation.  Each party hereto agrees to
execute and deliver such instruments and take such other action as the other
party may reasonably request in order to carry out the intent of this
Agreement.

 

23.           Equitable Remedies.  In
the event of any breach of this Agreement, the provisions of this Agreement may
be enforceable in a court of equity by a decree of specific performance.  Any equitable remedy shall not be exclusive
and shall be in addition to any other remedy available.

 

24.           Power to Bind.  A
responsible officer of the Company and the Buyer has read and understands the
contents of this Agreement and is empowered and duly authorized on behalf of
the Company and the Buyer to execute it.

 

25.           Plurality   When the context requires, singular nouns and pronouns include the plural.

 

IN WITNESS WHEREOF, the parties hereto have caused their duly
authorized representatives to execute this Agreement on and effective as of the
Date first set forth herein.

 

SELLERS:

 

 

	
  /s/ Greg Martin

  	
   

  	
  /s/
  Steven Benavides

  	
   

  
	
  GREG
  MARTIN

  	
  STEVEN
  BENAVIDES

  

 

9

 

BUYER:

 

 

	
  /s/
  John W. Mills, III

  	
   

  
	
  BLUE
  WIRELESS & DATA, INC.

  
	
  John
  W. Mills, III, COO

  
	
   

  
	
  AGREED
  AND ACCEPTED:

  
	
   

  
	
  COMPANY:

  
	
   

  
	
   

  
	
  /s/
  Greg Martin

  	
   

  
	
  DSG
  TECHNOLOGY, INC. d/b/a PANABAND

  
	
  Greg
  Martin, CEO

  

 

10

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