Document:

Exhibit 10(s)

    Exhibit
      10(s)

     

    

      AGREEMENT
        OF SALE AND PURCHASE OF REAL ESTATE

       

      
        	 	
                THIS
                  AGREEMENT OF SALE AND PURCHASE OF REAL ESTATE (the
                  “Agreement”) is dated December 19, 2005, but effective as
                  of December 20, 2005, by and between WACHOVIA BANK, N.A.,
                  

              
	trustee
                (and successor trustee to Central Penn National Bank of Philadelphia)
                under Tasty Baking Company Pension Plan Deed of Trust, restated as
                of
                December 20, 1976 (“Seller”), and TASTY BAKING COMPANY, a
                Pennsylvania corporation
                (“Buyer”).

      

      

      
        	 	
                For
                  and in consideration of the mutual covenants and undertakings herein
                  contained, and for other good and valuable consideration, the receipt
                  and
                  sufficiency of which are hereby acknowledged, and 

              
	intending
                to be legally bound hereby, the parties hereto agree as follows:
                

      

    
      	
              1.

            	
              Agreement
                to Sell and Purchase. Seller agrees to sell and convey to Buyer, and
                Buyer agrees to purchase and accept from Seller, subject to the terms
                and
                conditions hereinafter set forth, those three (3) 

            
	certain
              lots, tracts, and parcels of land, together with the buildings and
              improvements thereon, known as 2801 West Hunting Park Avenue (a/k/a
              2803
              West Hunting Park Avenue), in the City and County of Philadelphia (the
              “Municipality”), Pennsylvania, and being more
              particularly described on Exhibit “A” attached to and made a part of this
              Agreement (the “Land”), together with the existing
              buildings, improvements, and fixtures situate thereon (the
              “Improvements,” and together with the Land, the
              “Real Property”), together with the following
              rights, interests, and appurtenances (collectively, the
              “Appurtenances”): 

    

    

    
      	 	
              1.1

            	
              all
                right, title and interest of Seller in and to adjacent streets, roads,
                alleys, and rights-of-way,
                opened or proposed, in front of or abutting or adjoining the Land,
                including, without limitation, the 

            
	former
              bed of McMichael Street; and all right, title and interest of Seller
              in
              and to any unpaid award for the taking by eminent domain of any part
              of
              the Real Property, or for damage to the Real Property, by reason of
              a
              change of grade of any street; 

    

    

    
      	 	
              1.2

            	
              all
                rights,
                easements and appurtenances pertaining to the Real Property, including
                but
                not limited to any easements,
                rights-of-way, water rights, mineral and timber rights, development
                rights, 

            
	privileges,
              licenses, and other rights and benefits belonging to, running with
              the
              owner of, or in any way relating to the Real Property;
              

    

    

    
      	 	
              1.3

            	
              all
                rights, privileges, permits, approvals, licenses, certificates, and
                agreements (collectively, the "Approvals")
                issued or granted by the Municipality or any other federal, state,
                county,
                or local 

            
	
              governmental
                or quasi-governmental board, body, department, agency or authority,
                or by
                any public or private utility company (collectively, the
                “Governmental Authorities”) with respect to the Real
                Property;

            

    

    

    
      	 	
              1.4

            	
              all
                fixtures, and all equipment and other personal property attached
                or
                appurtenant to, or located in or on, or used in connection with the
                operation of the Real Property; and

            

    

     

    
      	 	
              1.5

            	
              all
                other rights, interests and properties as may be specified in this
                Agreement to be sold, transferred, assigned or conveyed by Seller
                to
                Buyer. 

            

    

     

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    

    Collectively,
      the Real Property and Appurtenances are referred to herein as the “Property”.
      Notwithstanding
      anything provided in this Section to the contrary, the legal description for
      the
      Land shall, at Buyer’s option, be determined by the survey to be obtained by
      Buyer pursuant to Paragraph 3.2. Nevertheless, the warranty set forth in the
      Deed (as defined below) shall be limited to the description of the Land
      described in Seller’s vesting deed.

    

    
      	
              2.

            	
              Purchase
                Price.The
                purchase price to be paid for the Property shall be Four Million
                Seven
                Hundred Thousand and
                00/100 Dollars ($4,700,000.00)
                (the "Purchase
                Price"),
                subject to prorations and other 

            
	 adjustments
              as provided herein. The Purchase Price shall be the total consideration
              payable to the Seller for the Property, and shall be paid by Buyer
              at
              Closing (as defined below) by electronic funds transfer, subject to
              the
              prorations and adjustments as hereinafter set
              forth.

    

     

    
      	
              3.

            	
              Title
                Requirements.

            

    

    

    
      	 	
              3.1 

            	
              Title
                Report. As a condition precedent to Buyer’s obligation to complete
                Closing, title to the Property shall be: (i) good and marketable
                and free
                and clear of all mortgages, liens, encumbrances, 

            
	easements,
              restrictions, covenants, agreements and other exceptions to title,
              other
              than the title exceptions listed or described on Exhibit “B” attached to
              and made a part of this Agreement (the “Permitted Title
              Exceptions”); and (ii) insurable as aforesaid by Lawyers Title
              Insurance Corporation (the “Title Company”), at regular
              rates pursuant to the standard stipulations of an ALTA Owner’s Policy
              (10/17/92) of Title Insurance (the “Title Policy”).
              Within five (5) days of the Effective Date, Buyer shall provide Seller
              a
              copy of the Title Company’s commitment to issue the Title Policy (the
              “Title Report”), together with copies of all instruments
              and documents affecting title to the Property and listed in the Title
              Report. With regard to matters of title to the Real Property, Buyer
              shall
              be solely responsible for the insurance premium and endorsement fees
              payable to the Title Company in connection with the issuance of the
              Title
              Policy and any fees payable to the Title Company in connection with
              the
              issuance of the Title Report. 

    

    

    
      	 	
              3.2

            	
              Current
                Survey.
                Buyer, at its option, may request a new ALTA survey, or an update
                of any
                existing ALTA survey provided by Seller, at Buyer’s expense, to be
                prepared by a licensed engineer or 

            
	surveyor
              satisfactory to Buyer, and certified and delivered to Buyer, Seller
              and
              the Title Company (the “Survey”). This obligation shall
              survive Closing and the delivery of the
              Deed.

    

    

    
      	 	
              3.3

            	
              Condition
                of Title.
                If title to the Property cannot be conveyed to Buyer at Closing in
                accordance with the requirements of this Section, Buyer shall have
                the
                option, as its sole right and remedy 

            
	(regardless
              of whether Seller has informed Buyer that Seller intends to attempt
              to
              cure a title defect), either to (i) accept such title as Seller can
              convey
              or cause to be conveyed with an abatement of the Purchase Price in
              the
              amount (fixed or ascertainable) of any mortgages, liens or other
              encumbrances that can be satisfied or removed with the payment of money
              (collectively, “Monetary Encumbrances”), or (ii)
              terminate this Agreement upon written notice to Seller, and in which
              case
              this Agreement shall immediately terminate and become null and void
              and be
              of no further force and effect and Buyer and Seller shall be released
              and
              relieved from any further liability hereunder, at law and equity, except
              for any obligations which are expressly intended to survive
              termination.

    

     

    
      
        2

      

      
        
        

        
          

        

      

      
        
        

      

    

    
 

    
      	4.	
              Representations
                and Warranties.

            

    

     

    
      	 	
              4.1

            	
              Buyer’s
                Representations and Warranties.
                Buyer hereby warrants and represents to Seller as follows: (i) the
                person(s) who have executed this Agreement on behalf of Buyer have
                been

            
	and
              properly authorized to do so; (ii) this Agreement constitutes the valid
              and binding obligation of Seller enforceable in accordance with its
              terms;
              (iii) Seller has full power and authority to fulfill Seller’s obligations
              under this Agreement; and (iv) no consent, waiver or approval by any
              other
              party is required in connection with the execution and delivery by
              Seller
              of this Agreement or the performance by Seller of its obligations
              hereunder or any instrument contemplated
              thereby.

    

     

    
      	 	4.2.	
              Buyer’s
                Representations and Warranties.
                Buyer hereby warrants and represents to Seller as follows: (i) the
                person(s) who have executed this Agreement on behalf of Buyer have
                been
                validly and 

            
	properly
              authorized to do so; (ii) this Agreement constitutes the valid and
              binding
              obligation of Buyer enforceable in accordance with its terms; (iii)
              Buyer
              is a corporation, duly organized, validly existing and in good standing
              under the laws of the state of its incorporation, and is authorized
              to do
              business and subsist under the laws of the Commonwealth of Pennsylvania;
              (iv) Buyer has full power and authority to fulfill Buyer’s obligations
              under this Agreement; and (v) no consent, waiver or approval by any
              other
              party is required in connection with the execution and delivery by
              Buyer
              of this Agreement or the performance by Buyer of its obligations hereunder
              or any instrument contemplated thereby

    

    .

    
      	 	
              4.3

            	Survival
              of Representations and Warranties. The foregoing
              representations and warranties are true and are in full force and effect
              and binding on the party making them as of the date hereof and shall
              
	survive
              Closing and delivery of the Deed.

    

    

    
      	
              5.

            	
              Condition
                of the Property; Existing Lease.

            

    

     

    
      	 	5.1	As
              Is Condition. Except for any specific representations and warranties
              herein, Buyer understands that it is accepting the Property in its
“as is”
              “where is” “with all faults” condition as of the date of 
	this
              Agreement. 

    

     

    
      	 	5.2	Existing
              Lease. Buyer acknowledges that Buyer is in exclusive possession of the
              Property pursuant to the terms of that certain lease indenture dated
              as of
              July 1, 1984, between Seller, as “landlord”
	and
              Buyer as “tenant” (the “Existing Lease”). Buyer and
              Seller shall continue to honor the terms of the Lease and perform their
              respective obligations thereunder until Closing. At Closing the Lease
              shall automatically expire and terminate and be of no further force
              or
              effect. If this Agreement is terminated for any reason and Closing
              does
              not occur, the Lease shall continue in full force and effect in accordance
              with its terms. 

    

     

    
      	
              6.

            	
              Closing.

            

    

     

    
      	 	6.1 	Date,
              Time, and Location. Provided that this Agreement has not been
              terminated in accordance with the terms hereof, the consummation of
              the
              transactions contemplated by this Agreement (the 
	"Closing")
              shall take place in escrow with the Title Company, in Philadelphia,
              Pennsylvania, at 10:00 A.M. (local time at the Property), on December
              20,
              2005. The Closing may be moved to another place and time upon mutual
              agreement in writing by Buyer and Seller.

    

    

     

    
      
        3

      

      
        
        

        
          

        

      

      
        
        

      

    

     

     

    
      	 	
              6.2

            	
              Seller’s
                Obligations at Closing. At Closing, Seller shall, contemporaneously
                with and as a condition to Buyer performing Buyer’s obligations under
                Paragraph 6.3:

            

    

     

    
      	 	 	
              6.2.1

            	
              Execute,
                acknowledge and deliver to Buyer a special warranty deed conveying
                title
                to the Property to Buyer in the condition required by Section 3 (the
                “Deed”), which shall be in proper form

            
	for
              recording in the Office of the Department of Records for the Municipality
              (the “Recorder’s Office”);
              and

    

     

    
      	 	 	
              6.2.2

            	
              Execute,
                acknowledge, as necessary, and deliver to Buyer and Title Company
                (i) an
                affidavit of title reasonably satisfactory to Seller, (ii) an affidavit
                that Seller is not a foreign person as defined 

            
	in
              Section 1445 of the Internal Revenue Code, (iii) a realty transfer
              tax
              affidavit of value, if required, (iv) a settlement statement, setting
              forth the Purchase Price, and all prorations and adjustments thereto,
              and
              all closing costs paid or payable by the parties, and (v) all and any
              other affidavits or certificates required hereunder or customarily
              required in real estate transactions in the Municipality in order to
              effect the Seller’s obligations under this
              Agreement.

    

     

    
      
        	 	
                6.3

              	
                Buyer's
                  Obligations at Closing.
                  At the Closing, Buyer
                  shall, contemporaneously with and as a condition to Seller performing
                  Seller’s obligations under Paragraph
                  6.2:

              

      

       

    

    
      	 	 	
              6.3.1

            	
              Deliver
                the Purchase Price, subject to prorations and other adjustments as
                provided herein; and

            

    

    

    
      	 	 	
              6.3.2

            	
              Execute,
                acknowledge, as necessary, and deliver to Title Company (i) a standard
                affidavit of title, (ii) a realty transfer tax affidavit of value,
                if
                required, (iii) a settlement statement, setting forth 

            
	the
              Purchase Price, and all prorations and adjustments thereto, and all
              closing costs paid or payable by the parties, and (iv) all and any
              other
              affidavits or certificates required hereunder or customarily required
              in
              real estate transactions in the Municipality in order to effect the
              Buyer’s obligations under this Agreement.

    

    

    
      	 	
              6.4

            	
              Closing
                Costs.

            

    

    

    
      	 	 	
              6.4.1

            	
              Seller’s
                Costs. Seller shall pay the following costs and expenses in connection
                with the Closing: (i) one-half of all realty transfer taxes imposed
                in
                connection with the conveyance

            
	
              of
                the Property; (ii) recording fees in connection with those instruments
                (other than the Deed) which are necessary to conform title to the
                requirements of this Agreement; and (iii) costs of Seller’s document
                preparation and acknowledgements, and Seller’s attorneys’
                fees.

            

    

    

    
      	 	 	
              6.4.2

            	
              Buyer’s
                Costs.
                Buyer shall pay the following costs and expenses in connection with
                the
                Closing: (i)
                one-half of all realty transfer taxes imposed in connection with
                the
                conveyance of the 

            
	
              Property;
                (ii) cost of the Survey, Title Policy and Title Report, including
                the
                premium for the policy and any endorsements requested by Buyer and
                all
                search fees; (iii) fees and costs associated with the Bank Financing,
                including costs of Buyer’s document preparation and acknowledgments, and
                Buyer’s attorneys’ fees; and (iv) the fees for recording the Deed and any
                mortgages or other documents which Buyer needs to record in order
                to
                purchase the Property.

            

    

     

     

    
      
        4

      

      
        
        

        
          

        

      

      
        
        

      

    

    
 

    
      	 	 	
              6.4.3

            	
              Real
                Estate Taxes and Other Prorations.
                Except for costs, charges and expenses that are the responsibility
                of
                Tenant under the Existing Lease, all
                other items of income or expense customarily 

            
	
              apportioned
                by and between sellers and buyers of real estate in the Municipality
                shall
                also be apportioned on a per diem basis as of
                midnight of the day immediately preceding the date of Closing.
                Such prorations favoring Buyer shall reduce the cash payable by Buyer
                at
                the Closing, and such prorations favoring Seller shall increase the
                cash
                payable by Buyer at the Closing. Unless otherwise provided in the
                Existing
                Lease, any special
                assessments imposed against the Property by the Municipality or any
                other
                taxing authorities, prior to the date of Closing and payable in one
                lump
                sum shall be paid by Seller at or before Closing, and prorated between
                and
                payable by the parties as of the date of Closing, and if payable
                in
                installments, shall be prorated between and payable by the parties
                as of
                the date of Closing. The terms of this Subparagraph shall survive
                Closing
                and the delivery of the Deed.

            

    

     

    
      	
              7.

            	
              Defaults.

            

    

    

    
      	 	
              7.1

            	
              Buyer’s
                Default.
                If
                Buyer, other than due to Seller’s default, fails to complete Closing under
                this Agreement within the time set forth herein and when required
                hereunder, such failure shall be deemed a 

            
	
              default
                hereunder, and Seller shall be entitled, as its sole remedy, to terminate
                this Agreement, and thereafter the parties shall have no further
                rights or
                liabilities hereunder, except for those matters which expressly
                survive.

            

    

    

    
      	 	
              7.2.

            	
              Seller’s
                Default.
                If
                Seller is unable to convey title at Closing in accordance with the
                requirements of this Agreement, or has actual knowledge prior to
                the
                Closing that any of the representations and 

            
	warranties
              of Seller are not true and correct or have otherwise been breached
              or that
              any of Seller’s covenants have been breached, then, Buyer’s only remedy
              shall be to terminate this Agreement by giving written notice to Seller
              on
              or before the Closing, and thereafter the parties shall have no further
              rights or liabilities hereunder, except for those matters which expressly
              survive. Buyer may, nevertheless, accept such title as Seller shall
              be
              able to convey in accordance with Section
              3.3
              hereof. 

    

     

    
      	
              8.

            	
              Casualty
                and Condemnation. 

            

    

     

    
      	 	
              8.1

            	
              Proceeds.
                If
                after the Effective Date hereof and before Closing, any portion of
                the
                Property shall be taken in condemnation or under the right of eminent
                domain, or if any such condemnation or 

            
	eminent
              domain shall be authorized by any Governmental Authorities, or
              if
              a
              casualty, including fire, flood, or vandalism, occurs, Buyer,
              at its option, shall either (i) terminate this Agreement, and thereafter
              the parties shall have no further rights or liabilities hereunder,
              except
              for those matters which expressly survive, or (ii) proceed to Closing
              pursuant to the terms of this Agreement, in which event Seller shall
              deliver to Buyer at the Closing any condemnation and insurance proceeds
              actually received by Seller, or an assignment of such proceeds to be
              received by Seller, attributable to the Property from such condemnation,
              eminent domain, or casualty, and there shall be no reduction in the
              Purchase Price. 

    

     

    
      	9. 	
              Brokerage.
                Seller and Buyer each warrant to the other that neither has dealt
                with any
                agent, broker or finder with respect to the transaction contemplated
                by
                this Agreement. In the event that any 

            
	claim
              for commission or finder’s fees is brought by any person or entity as a
              consequence of the transaction contemplated hereby and as a result
              of any
              action or omission of either Seller or Buyer (the “Breaching
              Party”), the Breaching Party shall indemnify and hold harmless
              the other party against loss, cost, damage and reasonable attorney’s fees
              arising as the consequence of the claim for the commission or fee.
The
              Breaching Party’s obligation to indemnify as aforesaid shall
              survive termination of this Agreement.

    

     

    
      
        5

      

      
        
        

        
          

        

      

      
        
        

      

    

     

     

    
      
        	10.	
                Notices.
                  All notices, communications and deliveries under this Agreement
                  shall be
                  made in writing, signed by the party making the same, shall specify
                  the
                  Section of this Agreement pursuant to which it 

              
	is
                given, and shall be deemed given (i) on the date delivered (or the
                date
                delivery was refused) if delivered in person, (ii) on the date delivered
                if delivered by facsimile (with confirmation of transmission) prior
                to
                5:00 p.m. (local time at the Property) on such date, (iii) on the
                third
                (3rd) business day after mailed if mailed certified mail (with postage
                prepaid), return receipt requested, or (iv) on the next day after
                delivery
                by Federal Express or other nationally recognized overnight courier
                service, and shall be addressed as follows:

      

    

    
 

    
      	
              To
                Buyer:

            	
              Tasty
                Baking Company

            
	 	
              2801
                West Hunting Park Avenue

            
	 	
              Philadelphia,
                PA 19129

            
	 	
              Attention:
                Gene P. Malinowski

            
	 	
              Facsimile:
                215 225 2511

            
	 	 
	 	
              with
                a copy to:

            
	 	 
	 	
              Stradley,
                Ronon, Stevens & Young, LLP

            
	 	
              30
                Valley Stream Parkway

            
	 	
              Malvern,
                PA 19355

            
	 	
              Attention:
                Christopher E. Cummings, Esq.

            
	 	
              Facsimile:
                (610) 640 1965

            
	 	 
	To
              Seller:	Wachovia
              Bank, N.A.
	 	
              c/o
                Wachovia Bank Retirement Services PA4389

            
	 	
              123
                South Broad Street

            
	 	
              Philadelphia,
                PA 19109

            
	 	
              Attention:
                Christine McConemy

            
	 	
              Facsimile:
                (215) 670-7719

            
	 	 
	 	
              with
                a copy to:

            
	 	 
	 	
              Morgan,
                Lewis & Bockius LLP

            
	 	
              1701
                Market Street

            
	 	
              Philadelphia,
                PA 19103

            
	 	
              Attention:Robert
                Abramowitz, Esq.

            
	 	
              Facsimile:(877)
                432-9652

            

    

    

    or
      to such
      other representative or to such other address as a party hereto may furnish
      to
      the other party by written notice. Notices may be given by any party's counsel
      on behalf of such party.

     

    
      
        6

      

      
        
        

        
          

        

      

      
        
        

      

    

     

     

    
      	
              11.

            	
              Miscellaneous

            

    

     

    
      	 	11.1	
              Assignments.
                Buyer and Seller shall not assign this Agreement or any interest
                therein
                without the written consent of the other party, which consent may
                be
                withheld in the sole discretion of the party 

            
	being
              asked to consent, except that Buyer shall have the right to assign
              its
              rights and interests in this Agreement to an entity owned and controlled
              by Buyer following delivery to Seller of notice and such reasonable
              evidence in support of the assignment as Seller may require including
              an
              assignment and assumption agreement. This Agreement shall be binding
              upon
              and shall inure to the benefit of the parties hereto, and their respective
              successors and permitted assigns.

    

     

    
      	 	11.2	
              Interpretation.
                Whenever the context hereof shall so require, the singular shall
                include
                the plural, the male gender shall include the female gender and neuter
                and
                vice versa. This Agreement and any 

            
	related
              instruments shall not be construed more strictly against one party
              than
              against the other by virtue of the fact that initial drafts were made
              and
              prepared by counsel for one of the parties, it being recognized that
              this
              Agreement and any related instruments are the product of extensive
              negotiations between the parties hereto and that both parties hereto
              have
              contributed substantially and materially to the final preparation of
              this
              Agreement and all related instruments. On the contrary, in the case
              of any
              ambiguity or uncertainty, this Agreement shall be construed according
              to
              the ordinary meaning of the words used so as to fairly accomplish the
              purposes and intentions of all parties hereto. Whenever this Agreement
              requires the computation of time from or after particular triggering
              dates, the triggering date shall not be included in the computation.
              If
              any date upon which action is required under this Agreement shall be
              a
              Saturday, Sunday or legal holiday, the date for such action shall be
              extended to the first regular business day after such date which is
              not a
              Saturday, Sunday or legal holiday. The titles or captions of articles,
              sections and subsections contained in this Agreement are inserted only
              as
              a matter of convenience and for reference and in no way define, limit,
              extend or describe the scope of this Agreement or the intent of any
              provision hereof. This Agreement shall be construed and enforced in
              accordance with the laws of the Commonwealth of
              Pennsylvania.

    

     

    
      	 	11.3	
              Counterparts.
                This Agreement may be executed in any number of counterparts, each
                of
                which shall be deemed to be an original instrument, but all such
                counterparts together shall constitute one and 

            
	the
              same instrument. 

    

     

    
      	 	11.4	
              Severability.
                In
                case any one or more of the provisions contained in this Agreement
                shall
                for any reason be held to be invalid, illegal or unenforceable in
                any
                respect, such invalidity, illegality or 

            
	unenforceability
              shall not affect any other provision hereof, and this Agreement shall
              be
              construed as if such invalid, illegal or unenforceable provision had
              never
              been contained herein. The foregoing provisions shall not be applicable
              if
              the invalidity, illegality or unenforceability of any provision of
              this
              Agreement would serve to frustrate the essential business purpose of
              this
              Agreement and the intent of the parties
              hereunder.

    

     

    
      	 	11.5	
              Time
                of Essence.
                Time is of the essence of each and every term, provision and covenant
                of
                this Agreement. The expiration of any period of time prescribed in
                this
                Agreement shall occur at 5:00 

            
	p.m.
              EST on the last day of the period. Unless otherwise expressly provided
              in
              this Agreement, references to days shall mean calendar days and not
              business days.

    

     

    
      
        7

      

      
        
        

        
          

        

      

      
        
        

      

    

     

     

    
      	 	11.6	
              Form
                1099.
                Seller and Buyer acknowledge and agree that Section 6.045(e) of the
                Code
                may require that notice of the sale and purchase of the Property
                be
                provided to the I.R.S. by preparation of and 

            
	filing
              with the I.R.S. of I.R.S. Form 1099_B. Seller and Buyer agree to furnish
              and provide to the Title Company any and all information that the Title
              Company may require in order for it to (i) comply with all instructions
              of
              the I.R.S. Form 1099_B in the preparation thereof and (ii) prepare
              and
              timely file with the I.R.S. said I.R.S. Form 1099_B with respect to
              this
              transaction. 

    

     

    
      	 	11.7	
              Further
                Assurances.
                 Upon
                request of the other party, Seller and Buyer each shall do, execute,
                acknowledge, and deliver, such instruments, documents and materials
                as the
                other may reasonably request 

            
	in
              order to effectuate the consummation of the transactions contemplated
              herein and to vest title to the Property in Buyer. This Paragraph shall
              survive Closing and the delivery of the
              Deed.

    

     

    
      	 	11.8	
              No
                Waiver.
                Neither the failure of either party to exercise any power given such
                party
                hereunder or to insist upon strict compliance by the other party
                with its
                obligations hereunder, nor any custom 

            
	or
              practice of the parties at variance with the terms hereof shall constitute
              a waiver of either party's right to demand exact compliance with the
              terms
              hereof. 

    

     

    
      	 	11.9	
              Entire
                Agreement.
                This Agreement and the exhibits attached hereto (which are incorporated
                herein by reference) embody and constitute the entire understanding
                among
                the parties with respect to 

            
	the
              transaction contemplated herein. All prior or contemporaneous agreements,
              understandings, representations and statements, oral or written are
              merged
              into this Agreement. Neither this Agreement nor any provision hereof
              may
              be waived, modified, amended, discharged or terminated except by an
              instrument in writing signed by the party against which the enforcement
              is
              sought, and then only to the extent set forth in such
              instrument.

    

     

    
      	 	11.10	 Disclosure.
              Except as and to the extent required by law, without the prior written
              consent of the other party, neither Buyer nor Seller shall, and each
              shall
              direct its representatives not to, directly or 
	indirectly,
              make any public comment, statement or communication with respect to,
              or
              otherwise disclose or permit the disclosure of the existence of this
              Agreement or any transactions contemplated hereby, or any of the terms,
              conditions or other aspects hereof.

    

     

    
      	 	11.11	
               No
                Recording.
                Neither this Agreement, nor any portion or memorandum hereof, shall
                be
                recorded with the Recorder’s
                Office.

            

    

    

    
      	 	11.12	
              Real
                Estate Recovery Fund.
                A
                Real Estate Recovery Fund exists to reimburse any persons who have
                obtained a final civil judgment against a Pennsylvania real estate
                licensee owing to fraud, 

            
	misrepresentation,
              or deceit in a real estate transaction and who have been unable to
              collect
              the judgment after exhausting all legal and equitable remedies. For
              complete details about the Fund, call (717)
              783-3658.

    

    

    
      	 	
              11.13

            	
               Highway
                Occupancy Permit.
                Seller hereby advises Buyer that access to a public road may require
                issuance of a highway occupancy permit from the Pennsylvania Department
                of
                Transportation.

            

    

    
 

    
      
        8

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    
 

    

    IN
      WITNESS
      WHEREOF, the parties hereto, intending to be legally bound hereby, have executed
      this Agreement of Sale, under seal, as of the date first above
      written.

    

    

    

      
        	
                BUYER:

              
	 	 
	
                TASTY
                  BAKING COMPANY

              
	 	 
	
                By:
                  

              	 
	
                Name:
                  

              	 
	
                Title:
                  

              	 
	 	 
	 	 
	
                SELLER:

              
	 	 
	
                WACHOVIA
                  BANK, N.A., trustee 

              
	 	 
	
                By:
                  

              	 
	 	
                Christine
                  A. McConemy

              
	 	
                Assistant
                  Vice President

              
	 	 

    

    
      
        9

      

      
        
        

        
          

        

      

      
        
        

      

    

    Exhibit
      A

    

    Metes
      and Bounds Description of the Property

    

    PREMISES
      A

    

    ALL
      THAT
      CERTAIN lot or piece of ground, situate in the 38th
      Ward of
      the City of Philadelphia, bounded and described according to a plan and survey
      thereof made by W. F. Wingate, Surveyor and Regulator 13th
      Survey
      District, dated June 19th,
      1919 (a
      copy thereof being filed in Deed Book JMH No. 489 page 408) as
      follows:

    

    BEGINNING
      at a point the intersection of the Northwestwardly side of Hunting Park Avenue
      (100 feet wide) and Southwestwardly side of McMichael Street (70 feet wide),
      thence along the said Southwestwardly side of McMichael Street North 33 degrees,
      10 minutes 29 seconds West 275 feet 5 3/4 inches to a point in the Southerly
      right of way line of the Richmond Branch of the Philadelphia and Reading
      Railway, thence along the said side of said right of way line South 75 degrees,
      25 minutes 31 seconds West 50 feet 9 1⁄2 inches and South 76 degrees 40 minutes 31
      seconds West 100 feet 8 5/8 inches and South 77 degrees 55 minutes 31 seconds
      West 100 feet 8 5/8 inches and South 79 degrees 10 minutes 31 seconds West
      100
      feet 8 5/8 inches and South 80 degrees 25 minutes 31 seconds West 100 feet
      8 5/8
      inches and South 81 degrees 40 minutes 31 seconds West 31 feet 3 inches to
      a
      corner of lands of John and James Dobson, thence along the same South 29 degrees
      2 minutes 6 seconds East 107 feet and 8 1/8 inches to a point in the
      Northeasterly line of right of way of the Philadelphia, Germantown and
      Norristown Railroad, said point being 60 feet from the center line of said
      Railroad, thence along the same South 67 degrees 56 minutes 26 seconds East
      265
      feet 6 5/8 inches and thence South 22 degrees 3 minutes 34 seconds West 27
      feet
      to a point in said right of way line, said point being 33 feet from the center
      line of said Railroad, thence along said right of way line South 67 degrees
      56
      minutes 26 seconds East 130 feet 9 1/8 inches to a point on the Northwesterly
      side of Hunting Park Avenue aforesaid, thence along the same North 58 degrees
      2
      minutes 54 seconds East 255 feet 1 3⁄4 inches to place of beginning.

    

    CONTAINING
      2.9195 Acres.

    

    SUBJECT
      to
      the exception and reservation of the water now flowing on and passing through,
      along and across a certain creek or stream of water situated on and running
      through, upon and across the premises as fully set forth and recited in a
      certain deed given and executed by Elizabeth D. Riddle, et al, Surviving
      Executors and Trustees to said Philip J. Baur, dated July 23, 1919, and recorded
      at Philadelphia in Deed Book JMH No. 489 page 408.

    

    PREMISES
      B

    

    ALL
      THAT
      CERTAIN lot or piece of ground with the buildings and improvements thereon
      erected described as follows to wit:

     

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    

    BEGINNING
      at a marble stone at the intersection of the southern right of way line of
      the
      Richmond Branch of the Philadelphia and Reading Railroad and the Northeasterly
      line of right of way of the Philadelphia, Germantown and Norristown Railroad,
      said point being 60 feet from the center line of said Philadelphia, Germantown
      and Norristown Railroad, thence along the right of way line of the said
      Philadelphia, Germantown and Norristown Railroad, South 67 degrees 56 minutes
      26
      seconds East 201 feet 5 1⁄2 inches to a corner of lands of Tasty Baking Company,
      thence along the line of the Tasty Baking Company land North 29 degrees, 2
      minutes 6 seconds West 107 feet 8 1/8 inches to a point in the southern right
      of
      way line of the Richmond Branch of the Philadelphia and Reading Railroad, thence
      along the Southerly side of said Richmond Branch by a line curving to the
      southward and Westward with a radius of 4,616 feet 9 inches, 135 feet 7 1⁄4 inches
      to the first mentioned marble stone and place of beginning, being about .156
      acres more or less.

    

    PREMISES
      C

    

    That
      portion of the former bed of McMichael Street which became vested in grantors
      herein by the striking from City Plan No. 285, (a copy of Ordinance of Council
      of the City of Philadelphia is recorded at CAD 1159, page 369) and vacating
      McMichael Street, from Hunting Park Avenue to the southerly right of way line
      of
      the Richmond Branch, Reading Company.

    

    ALL
      that
      certain piece of ground situate in the 38th
      Ward and
      described as follows:

    

    BEGINNING
      at a point on the northwesterly side of Hunting Park Avenue (80 feet wide)
      at a
      distance of 159 feet 4 3/8 inches measured South 58 degrees 02 minutes 54
      seconds West along said side of Hunting Park Avenue from an angle point; said
      angle point being 470 feet 9 1⁄2 inches measured South 72 degrees 35 minutes 05
      seconds West still along said side of Hunting Park Avenue from the Southwesterly
      side of Fox Street (80 feet wide); thence extending from said beginning point
      along the said side of Hunting Park Avenue South 58 degrees 02 minutes 54
      seconds West 70 feet 0 1⁄4 inches to a point; thence extending North 33 degrees 10
      minutes 29 seconds West 275 feet 5 3⁄4 inches to a point on the southeasterly
      right-of-way line of The Richmond Branch, Reading Company; thence extending
      along said right-of-way, East 75 degrees 25 feet 31 inches East 49 feet 11
      1/6
      inches to an angle point; thence extending still along said right-of-way North
      74 degrees 10 minutes 31 seconds East 23 feet 9 1⁄4 inches to a point; thence
      extending South 33 degrees 10 minutes 29 seconds East 253 feet 11 1⁄2 inches to
      the northwesterly side of Hunting Park Avenue, the first mentioned point and
      place of beginning.

    

    Being
      as
      to Premises A and B the same premises which Tasty Baking Company, a Pennsylvania
      Corporation by Indenture dated December 1, 1960 and recorded 12-30-1960 in
      Philadelphia County in Deed Book CAB 1535 Page 205, conveyed unto Central Penn
      National Bank of Philadelphia, Trustee and Paul R. Kaiser, Nelson G. Harris
      and
      Philip J. Baur, Jr., individual trustees under Deed of Trust dated January
      5,
      1960, their successors and assigns, in fee.

    

    And
      the
      said Central Penn National Bank has seen been succeeded by Wachovia Bank,
      N.A.

    

     

    
      
        2

      

      
        
        

        
          

        

      

      
        
        

      

    

    Exhibit
      B

    

    List
      of Permitted Title Exceptions

    

    

    1. Exception
      and Reservation as contained in Deed Book JMH 489 page 408.

    

    
      	
              2.

            	
              Matters
                that would be shown by an accurate survey and inspection of the
                property.

            
	 	 
	
              3.

            	
              Rights
                granted to Philadelphia Electric Company in Deed Book CAB 480 page
                158.

            
	 	 
	
              4.

            	
              Agreement
                by and between Central Penn National Bank of Philadelphia, Corp.
                Trustee,
                Paul R. Kaiser, Nelson G. Harris and Philip J. Baur, Jr., Individual
                Trustees and The City of Philadelphia dated 9-29-1967 and recorded
                12-22-1967 in Deed Book CAD 1159 page 363.

            
	 	 
	
              5.

            	
              Right
                of Way for water main purposes and public utility purposes located
                in the
                bed of former McMichael Street stricken and vacated from City Plan
                on
                11-6-1967.Unassociated Document

    Exhibit
      10(t)

    

    RESTRICTED
      STOCK AWARD AGREEMENT

    

    

    THIS
      AGREEMENT is made as of the ____ day of ______________ (the “Grant Date”), by
      and between Tasty Baking Company (“Company”) and ______________________________
      (“Grantee”).

    

    WHEREAS,
      Grantee is a valued employee of the Company and/or one of its subsidiaries
      (collectively referred to as the “Employer”); and

    

    WHEREAS,
      the Company’s Board of Directors adopted the Tasty Baking Company 1997 Long Term
      Incentive Plan (“Plan”) on ___________, 1997, and the Plan was approved by
      shareholders of the Company on ___________, 1997; and 

    

    WHEREAS,
      as additional compensation for Grantee’s past and future services to the
      Employer, and to induce the Grantee to continue his or her efforts to enhance
      the value of the Company for shareholders, generally, and pursuant to the
      actions of the Company’s Board of Directors and the Board’s Compensation
      Committee (the “Committee”) on the Grant Date, the Company wishes to transfer
      shares of Common Stock of the Company to Grantee pursuant to the terms of the
      Plan, subject to the conditions set forth herein.

    

    NOW,
      THEREFORE, the Company and Grantee hereby agree as follows:

    

    1. As
      of the
      Grant Date, the Company shall transfer to Grantee __________________ (________)
      shares of the Company’s common stock, par value $.50 per share (“Award Shares”),
      at which time Grantee shall become the beneficial owner of the Award Shares
      so
      transferred, with the right to vote the Award Shares and receive dividends
      with
      respect to the Award Shares, subject to the risk of forfeiture conditions and
      transfer restrictions set forth herein. 

    

    2. (a) The
      Grantee’s right to beneficial ownership of the Award Shares shall become
      permanently vested and nonforfeitable, and they shall be released from the
      transfer restrictions set forth herein on the earlier of (i) fifth anniversary
      of the Grant Date, provided that Grantee remains in the continuous employment
      of
      the Employer as of such date; or (ii) upon the retirement of the Grantee with
      the approval of the Company. 

    

    (b) Prior
      to
      the vesting of the Award Shares pursuant to Paragraph 2(a), above, no Award
      Share (including any shares received by Grantee with respect to the Award Shares
      as a result of stock dividends, stock splits or any other form of
      recapitalization or a similar transaction affecting the Company’s securities
      without receipt of consideration) may be sold, assigned, transferred, pledged,
      hypothecated or otherwise disposed of, alienated or encumbered. 

    

    (c) If
      the
      Grantee’s employment with the Employer is terminated for any reason (excluding
      death) before he or she has become vested in the Award Shares pursuant to
      Paragraph 2(a), above, the Grantee shall forfeit the Award Shares, whether
      or
      not the Grantee is reemployed by the Employer. 

    

    (d) If
      a
      Grantee dies while in the employ of the Employer prior to the vesting of the
      Award Shares pursuant to Paragraph 2(a), above, all of the Award Shares shall
      become nonforfeitable and shall be delivered to the beneficiary designated
      by
      the Grantee pursuant to such rules and procedures established by the Committee.
      

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    

    3. Unless
      the
      Grantee and the Company make other arrangements satisfactory to the Company
      with
      respect to the payment of withholding taxes, upon vesting of the Award Shares
      pursuant to Paragraph 2(a) above, the Award Shares shall be reduced by that
      number of Award Shares having a value, as of the date they become vested, equal
      to the minimum amount of Federal, state and local taxes required to be withheld
      with respect to such Award Shares.

    

    4.
       Nothing
      in
      this Agreement shall confer upon Grantee any right to continue in the employ
      of
      the Employer or any affiliate thereof, or shall interfere with or restrict
      in
      any way the rights of such person to terminate Grantee’s employment at any time,
      subject to the terms of any employment agreement by and between the Employer
      and
      Grantee.

    

    5.
       This
      Award
      Agreement is subject to the terms of the Plan, and the Grantee hereby
      acknowledges receipt of a copy of the Plan. All capitalized terms not defined
      herein shall have the definition set forth in the Plan.

    

    6.
       This
      Agreement shall be governed by the substantive law of the Commonwealth of
      Pennsylvania, without giving effect to the choice of law principles
      thereof.

    

    The
      parties hereby have entered into this Agreement with intent to be legally bound
      hereby, as of the first date set forth above.

     

    
      

      
        	
                ATTEST:

              	
                TASTY
                  BAKING COMPANY

              
	 	 
	 	 
	
                ___________________________________

              	
                By:________________________________

              
	 	
                signature

              	title	
              
	 	 
	
                Witness:

              	
                GRANTEE

              
	 	 
	 	 
	
                ___________________________________

              	
                ___________________________________

              
	 	
                signature

              

      

       

      
        
          2

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00099-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00099-of-00352.parquet"}]]