Document:

Exhibit 10.52

 

BILL OF SALE AND ASSIGNMENT

 

A.                                   Pursuant to that certain Contract of Sale (the “Contract”), dated on or
about July 19, 2002, Tollway 76, L.P., a Washington limited partnership
(“Assignor”), agreed to sell to The Smith & Wollensky Restaurant Group,
Inc. (“TS&WRGI”), certain personal property located on, or used in
connection with, the Land and Improvements as further described and defined in
the Contract; and

 

B.                                     TS&WRGI
assigned all of its rights under the Contract to Dallas S&W, L.P., a Texas
limited partnership (“Assignee”); and

 

C.                                     It is therefore the desire of Assignor to hereby sell, assign, transfer
and convey to Assignee certain personal property, if any, owned by Seller upon
the Land or within the Improvements, including specifically, without
limitation, (i) heating, ventilation and air conditioning systems and
equipment, carpeting, and draperies used in connection with the Land and
Improvements, (ii) the equipment and fixtures set forth on Exhibit “A” attached
hereto, and (iii) all assignable warranties and guaranties (express or implied)
issued to Seller in connection with the Improvements or the personal property
described in clause (i) and (ii) (the property described in this paragraph C.
is collectively referred to as the “Personal Property”).  Notwithstanding anything to the contrary
contained herein, Assignor is retaining and is not transferring the items on
Exhibit “B” and such items are not included within Personal Property.

 

NOW, THEREFORE, in consideration of $10.00 and
other good and valuable consideration, the receipt and sufficiency of which are
hereby acknowledged and confessed by Assignor, Assignor does hereby SELL,
ASSIGN, TRANSFER, SET OVER and DELIVER to Assignee, the Personal Property, free
and clear of all liens, security interests, claims, and encumbrances.

 

TO HAVE AND TO HOLD, the Personal Property unto
the Assignee, its successors and assigns, forever, and Assignor does hereby
bind itself, its successors, and assigns, to WARRANT and FOREVER DEFEND, all
and singular, title to the Personal Property unto the Assignee, its successors
and assigns, against every person claiming or to claim the same or any part
thereof, free and clear of all liens, security interests, claims, and
encumbrances.

 

Assignor hereby agrees to perform, execute,
deliver, and/or acknowledge or cause to be performed, executed, delivered
and/or acknowledged any and all additional documents, instruments, acts and
assurances as the Assignee may reasonably require to evidence, create or
perfect the Assignee’s title, right or interest in the Personal Property.

 

 

EXECUTED this 9th day of October, 2002.

 

	
   

  	
  ASSIGNOR:

  
	
   

  	
   

  
	
   

  	
  TOLLWAY 76, L.P., a Washington limited

  partnership

  
	
   

  	
   

  
	
   

  	
  By:  RAM
  International GP, LLC, a Washington

  limited liability company, its General Partner

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Jeffery B. Iverson Jr.

  	
   

  
	
   

  	
  Name:

  	
  Jeffery B. Iverson Jr.

  	
   

  
	
   

  	
  Its:

  	
  Manager

  	
   

  
					

 

2

 

EXHIBIT “A”

 

Bars & all bar equipment

Smallwares
– back of house only

(Assignor
will keep all front of house smallwares)

Scullery

Ice
machines

Shelving,
tables, sinks

Prep
kitchen

Everything
except flat top stove

Hot
Cookline

Everything
except ranges on top of refrigerated bases and 1 griddle (3’)

Cold
cookline/pick up line

Vent
a hoods

Coolers

Office
equipment

4
TV’s

 

3

 

EXHIBIT “B”

Signage

Audio/visual

Chairs,
stools, couches

Table tops

Table
bases

Booths

Art
work & décor

Chandeliers
& drop lighting

Inventory

POS
System

Safes

Phone
system

Flat
top stove in prep kitchen

Ranges
on top of refrigerated bases on hot cookline

1
griddle (4’) on hot cookline

Smallwares front of house only

 

4Exhibit 10.53

 

Promissory
Note

 

Date:  October 9th, 2002

 

Borrower:

Dallas S&W, L.P.,

a Texas limited partnership

 

Borrower’s Mailing Address:

1114 First Avenue

New York, New York  10021

Attn:  Jim
Dunn

Telephone No.: 
(212) 838-2061

Facsimile No.: 
(212) 758-6027

 

Lender:

Toll
Road Texas Land Company, L.P.

c/o
Calvin C. Chandler, Manager of

Tollway
Land Company, L.L.C., the general partner of Lender

10013
— 59th Street

Lakewood,
Washington 98499

Telephone
No.:  (253) 588-1788

Facsimile
No.:    (253) 584-8563

 

Place for Payment:

Toll
Road Texas Land Company, L.P.

c/o
Calvin C. Chandler

10013
— 59th Street

Lakewood, Washington 98499

 

Principal Amount:

$1,650,000

 

Annual Interest Rate:

Eight (8%) percent per annum

 

Maturity Date:

Third anniversary of this Note.

 

Annual Interest Rate on Matured, Unpaid Amounts:

Eighteen (18%) percent per annum

 

Terms of Payment (principal and interest):

The principal balance of the Note shall be due
and payable in three annual installments of $550,000 each, with each such
installment due and payable on the first, second, and third anniversaries of
the

 

date first set forth above.  Interest, computed on the unpaid principal
balance of the Note, shall be due and payable annually as it accrues, on the
first, second, and third anniversaries of this Note.

 

Security for Payment:

(i) Vendor’s lien contained in Special Warranty Deed of even date
herewith, and (ii) Deed of Trust of even date herewith, executed by Dallas
S&W, L.P., in favor of Bryan Perkins, Trustee for the benefit of Lender.

 

Other Security for Payment:

None.

 

Borrower promises to pay to the order of Lender the Principal Amount
plus interest at the Annual Interest Rate. This Note is payable at the Place
for Payment and according to the Terms of Payment. All unpaid amounts are due
by the Maturity Date. After maturity, Borrower promises to pay any unpaid
principal balance plus interest at the Annual Interest Rate on Matured, Unpaid
Amounts.

 

Borrower shall be in default of this Note upon either of the following:

 

a.                                       Failure to pay any
installment of interest due and owing under this Note, when due, and failure of
Borrower to cure said default within ten (10) days of notice of such default
from Lender to Borrower; or

 

b.                                      Failure by Borrower to pay any monetary
amount required by the Deed of Trust referenced above, and the continuation of
such failure for a period of twenty (20) days after Lender has provided
Borrower with written notice thereof.

 

c.                                       Failure by Borrower to perform any term,
condition, or covenant contained in the Deed of Trust referenced above (other
than failure to pay any monetary amount required by the Deed of Trust), and the
continuation of such failure for a period of thirty (30) days after Lender has
provided Borrower with written notice thereof or, if such failure on the part
of is not susceptible of being cured within said thirty (30) day period, the
failure of Borrower to commence curing such failure within said thirty (30) day
period or, having commenced to cure the failure within said thirty (30) day period,
the failure of Borrower  to prosecute or
complete the curing of said failure with due diligence and dispatch.

 

If Borrower defaults in the payment of this Note or in the performance
of any obligation in any instrument securing or collateral to this Note, Lender
may declare the unpaid principal balance, earned interest, and any other
amounts owed on the Note immediately due. Borrower and each surety, endorser,
and guarantor waive all demand for payment, presentation for payment, notice of
intention to accelerate maturity, notice of acceleration of maturity, protest,
and notice of protest, to the extent permitted by law.

 

Borrower also promises to pay reasonable attorney’s fees and court and
other costs if this Note is 

 

2

 

placed in the hands of an attorney to collect or enforce the Note.
These expenses will bear interest from the date of advance at the Annual
Interest Rate on Matured, Unpaid Amounts. Borrower will pay Lender these
expenses and interest on demand at the Place for Payment. These expenses and
interest will become part of the debt evidenced by the Note and will be secured
by any security for payment.

 

Interest on the debt evidenced by this Note will not exceed the maximum
rate or amount of nonusurious interest that may be contracted for, taken,
reserved, charged, or received under law. Any interest in excess of that
maximum amount will be credited on the Principal Amount or, if the Principal
Amount has been paid, refunded. On any acceleration or required or permitted
prepayment, any excess interest will be canceled automatically as of the
acceleration or prepayment or, if the excess interest has already been paid,
credited on the Principal Amount or, if the Principal Amount has been paid, refunded.
This provision overrides any conflicting provisions in this Note and all other
instruments concerning the debt.

 

Each Borrower is
responsible for all obligations represented by this Note.

 

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

 

Borrower may
prepay this Note in any amount at any time before the Maturity Date without
penalty or premium.  Prepayments will be
applied first to accrued interest and the remainder to installments on
principal in the inverse order of maturity so that they will be applied to the
last maturing principal installments first. These prepayments will not reduce
the amount or time of payment of the remaining installments, which will
continue until the Principal Amount and all accrued interest are paid.  Interest on the prepaid principal will
immediately cease to accrue.

 

If any provision of this Note conflicts with any provision of a loan
agreement (if applicable), deed of trust, or security agreement (if applicable)
of the same transaction between Lender and Borrower, the provisions of the Note
will govern to the extent of the conflict.

 

	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  DALLAS S&W, L.P., a
  Texas limited partnership

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  By:  S&W of Dallas LLC, a Delaware limited liability

  company, its General Partner

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  By: 

  	
  /S/ James M. Dunn

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  Name:

  	
  James M.Dunn

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  Its:

  	
  President

  	
   

  

 

 

197724v5

 

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