Document:

EXHIBIT 10.44

     

    
      EXHIBIT
        10.44

      

      PURCHASE
        AGREEMENT 

      

      

      1.   
        PARTIES. The undersigned SELLER, Bowlin Travel Centers, Inc. (a Nevada
        Corporation) located at 150 Louisiana Blvd., NE, Albuquerque, NM 87108, agrees
        to sell and convey to Maxwell & Associates Real Estate Holdings, LLC,
        Michael A. Maxwell Managing Member (PURCHASER), address 194 Horton Rd. Edgewood,
        N.M. 87015; phone number (505) 944-6608, and PURCHASER agrees to buy from
        SELLER
        the property described in paragraph 2.

      

      2.   
        PROPERTY. Bowlin Travel Center (Edgewood), known as #7, Highway 344 located
        in
        City of Edgewood, New Mexico 87015 and legally described as Exhibit “A”, County
        of Santa Fe.

      

      The
        property shall include any and all fixtures and the personal property as
        per
        attached Addendum No 2. SELLER further agrees that at time of closing the
        aforementioned items will be in the same condition, reasonable wear and tear
        expected, as of the date of this Agreement. The following items of a permanent
        nature to be excluded from the sale:

      

      3.   
        CONTRACT SALES PRICE.

       

      
        	A.	 	
                Cash
                  down payment at closing (including earnest money)

              	 	$	1,300,000.00	 
	B.	 	
                Amount
                  of the Loan (s) described in Paragraph 4
                  below

              	 	 	 	 
	C.	 	
                Sales
                  Price (Sum of A + B)

              	 	$	1,300,000.00	 

      

      

      4.  
         FINANCING. PURCHASER assumes and agrees to pay the following existing
        liens of record with the payments as indicated or such other amount as may
        be
        established by Lender upon approval of assumption:

       

      
        	
                Type of Lien

              	
                Approximate
                  Balance

              	
                Approximate

                Monthly
                  Payment

              	
                Interest
                  Rate 

              
	 	 	 	 
	N/A Property is “Free &
                Clear” 

      

       

      Approximate
        balance, if any to be paid as follows: N/A.

      

      This
        agreement is contingent upon Lender’s approval of PURCHASER, if required.
        PURCHASER will prove financial ability to purchase said property within 10
        banking days from the execution of this agreement.

      

      5.  
         EARNEST MONEY. $25,000.00 earnest deposit in the form of Check, to be
        escrowed with Land America/Albuquerque Title (Sue Dunsworth) @ 883-9595 on
        behalf of SELLER upon mutual acceptance by PURCHASER and SELLER of this
        contract. The earnest deposit shall be applied in accordance with the terms
        of
        this Agreement.

      

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

       

      6.  
         COSTS TO BE PAID AT CLOSING: Any existing assessments and liens, except as
        noted herein, will be paid by SELLER at or prior to closing. PURCHASER and
        SELLER shall pay the following marked items:

       

      
        
          	
                  PURCHASER

                	 	
                  SELLER

                	 	
                  ITEM

                
	 	 	 	 	 
	
                  X

                	 	 	 	
                  Credit
                    Report

                
	 	 	
                  X

                	 	
                  The
                    Commitment (Binder)

                
	
                  X

                	 	
                   

                	 	
                  Prepaid
                    Hazard Insurance

                
	
                  NA

                	 	
                  NA

                	 	
                  Loan
                    transfer And/Or Assumption Fees

                
	
                  NA

                	 	
                  NA

                	 	
                  Escrow
                    Set Up Fee

                
	
                  X

                	 	
                   

                	 	
                  PURCHASER’S
                    Recording Fees

                
	
                  X

                	 	
                   

                	 	
                  Home
                    Warranty Inspection/Contract

                
	
                  X

                	 	
                  X

                	 	
                  Title
                    Company Closing Fee

                
	
                  X

                	 	
                  X

                	 	
                  Legal
                    Document Preparation Fees

                
	
                  X

                	 	
                   

                	 	
                  Certificate
                    of Survey

                
	 	 	
                  X

                	 	
                  SELLERS
                    Recording Fees

                
	 	 	
                  X

                	 	
                  Owner’s
                    Title Insurance Policy

                
	 	 	
                  X

                	 	
                  Special
                    Assessment Search Fee

                
	
                  X

                	 	
                   

                	 	
                  Survey
                    (Specify Type ___________________________)

                
	
                  X

                	 	
                   

                	 	
                  Appraisal
                    (Specify Type _________________________)

                
	
                  X

                	 	
                   

                	 	
                  Environmental
                    Study (Specify Type
                    _________________)

                

        

         

      

      PURCHASER
        agrees to pay all other costs necessary to obtain financing and consummate
        this
        transaction.

      

      7.  
         PRORATIONS. SELLER shall make payments which come due on existing
        encumbrance(s) if applicable before proration date, PURCHASER thereafter
        shall
        be responsible for taxes, interest, water sewer, and garbage charges, propane
        and propane tank rental, if applicable, if any, are to be prorated to the
        proration date of Closing On or Before January 30, 2007. Trust funds held
        by
        mortgagees for taxes and insurance will be assigned to PURCHASER at PURCHASER’S
        expense.

      

      8.   
        TITLE EVIDENCE. Warranty deed conveying merchantable title from SELLER to
        PURCHASER subject to liens set out herein, add valorem taxes for current
        year,
        and restrictions, reservations and easements shown of record shall be delivered
        at closing. Owner’s title insurance policy in PURCHASER’S name insuring title,
        as set out above shall be delivered as soon as practicable after closing.
        

      

      9.   
        PURCHASER’S INSPECTION. PURCHASER DECLARES THAT HE IS BUYING THE REAL ESTATE
        UPON HIS OWN EXAMINATION AND JUDGMENT AND NOT BY REASON OF ANY REPRESENTATION
        MADE TO PURCHASER BY SELLER, OR AGENT FOR SELLER, AS TO ITS CONDITION, SIZE,
        LOCATION, VALUE, FUTURE VALUE OR INCOME THEREFROM. PURCHASER FURTHER ACCEPTS
        PROPERTY IN “AS IS” CONDITION INCLUDING, BUT NOT LIMITED TO, ROOF, PLUMBING,
        ELECTRICAL, AND ALL MECHANICAL EQUIPMENT. AGENT DOES NOT WARRANT THE SQUARE
        FOOTAGE OF ANY PROPERTY BEING

      

      
        
          
          

        

        
          2

          
            

          

        

        
          
          

        

      

      

      PURCHASED.
        IF SQUARE FOOTAGE IS A MATERIAL CONSIDERATION IN MAKING THIS PURCHASE, AGENT
        ADVISES THAT THE PROPERTY SHOULD BE MEASURED BY PURCHASER. SELLER SHALL ALLOW
        A
        WALK-THROUGH INSPECTION PRIOR TO CLOSING. IN THE EVENT PURCHASER DESIRES
        ANY
        ADDITIONAL INSPECTIONS, SAID INSPECTION WILL BE ALLOWED BY SELLER, BUT ARRANGED
        AND PAID FOR BY PURCHASER. AGENT OR SELLER ARE IN NO WAY RESPONSIBLE FOR
        THE
        CONDITION OF THE PROPERTY AND IN NO WAY WARRANTS SAME. BUYER IS ADVISED TO
        CONSULT WITH HIS ATTORNEY DURING BUYERS DUE-DILIGENCE PROCESS AND HAVE HIS
        ATTORNEY REVIEW ALL STUDIES, REPORTS AND DOCUMENTS PERTAINING TO THE PROPERTY
        PRIOR TO CLOSING.

      

      Closing
        Date On or Before January 30, 2007.

      

      10.  
         POSSESSION. Seller(s) agree(s) to give possession of the premises to
        Purchaser(s) on Date of Funding.

      

      11.   
        CLOSING. All parties undersigned agree to complete closing within 72 hours
        after
        written notification that papers are ready. Purchaser(s) agree(s) to buy
        and
        Seller(s) agree(s) to sell according to the terms and conditions set out
        herein
        above. Time is of the essence. Purchaser(s) and Seller(s) agree to pay their
        customary share of costs of closing the transaction, unless other arrangements
        are written above. Parties to pay their own separate attorney’s
        fees.

      

      12.   
        DEFAULT. In event Seller(s) accepts this offer and Purchaser(s) refuses or
        fails
        to consummate the purchase, Seller shall have the option of retaining the
        earnest money as partial liquidated damages and (1) terminating this contract
        or
        (2) of enforcing the same.

      

      13.   
        OCCUPANCY. To Occur Date of Funding.

      

      14.   
        BINDER. This instrument comprises the entire understanding and agreement
        of the
        parties hereto on the subject matter herein contained and shall be binding
        upon
        and inure to the benefit of the parties, their heirs, executors, administrators,
        successors and assigns.

      

      15.   
        COUNTERPARTS. The following counterparts are included in these
        agreements:

       

      
        	
              	A.)	
                The
                  “Purchase Agreement”

              

      

      
        	
              	B.)	
                Broker
                  Duties (Part I and II)

              

      

      
        	
              	C.)	
                Legal
                  Description of property as Exhibit
“A”

              

      

      
        	
              	D.)	
                Addendum
                  One and Two

              

      

      
        	
              	E.)	
                Copy
                  of Earnest Deposit Check

              

      

      

      

      
        
          
          

        

        
          3

          
            

          

        

        
          
          

        

      

      

      16.  
         EXPIRATION OF OFFER.
        Date__________________Time______________A.M./P.M.

      

      17.   
        OFFER. DATED this 22 day of November 2006, at 11:25 A.M.

       

      
        
          	_________________________
                  REALTOR
                  By _______________________________________ 
	 	 	 	 
	 	 	 	 
	
                  /s/ 
Michael
                    A. Maxwell

                	 	 	
                  Maxwell
&
                    Associates Real Estate Holdings, LLC

                
	
                  

                	 	 	
                  

                
	
                  PURCHASER

                	 	 	
                  PURCHASER

                

        

      18.   
        ACCEPTANCE. I/We hereby accept the above offer and agree to pay agent 6.0%
        of
        the full purchase price, plus applicable New Mexico Gross Receipts Tax for
        merchandise and property. In the event purchase is not consummated and earnest
        money is forfeited, said earnest money is to be divided between Seller (s)
        and
        Agent according to the Listing Contract.

      
         

        
          
            	 	 	 	 
	
                    /s/ 
Kit
                      Johnson  

                  	 	 	
                    Bowlin
                      Travel
                      Centers, Inc.

                  
	
                    

                  	 	 	
                    

                  
	
                    SELLER

                  	 	 	
                    SELLER

                  
	 	 	 	 
	Date of Seller (s) Signature: November
                    27, 2006 	 	 	Time:  11:26
                    A.M. 

          

        
          
            
            

          

          
            4EXHIBIT 10.45

     

    EXHIBIT
      10.45

     

    PUEBLO
      OF LAGUNA

    
      P.O.
        Box
        194

      Laguna,
        New Mexico 87026

       

      
        	Office of:	 
	
                The
                  Governor 

              	
                (505)
                  552-6598 

              
	
                The
                  Secretary 

              	
                (505)
                  552-6654 

              
	
                The
                  Treasurer 

              	
                (505)
                  552-6655 

              

      

       

      Letter
        of Intent

      

      November
        27, 2006

      VIA
        EMAIL acracrealty.net 

      AND
        REGULAR MAIL

      Mr.
        Mike
        Martinez

      Albuquerque
        Commercial Realty

      7900
        Pennsylvania Circle NE

      Albuquerque,
        NM 87110

      

      
        	
              	Re:	
                Proposed
                  Purchase of 100 acres of land, more or less, with improvements,
                  located 17 miles

                west
                  of Albuquerque, NM, north
                  side of 140 at the Rio Puerco Exit

              

      

      

      Dear
        Mr.
        Martinez:

      

      We
        understand that you represent Bowfin Travel Centers, Inc. (“Seller”)
        in
        connection with the Seller’s offering for sale of the Property described above.
        This Letter of Intent sets forth the basic terms and conditions under which
        Pueblo of Laguna, a federally recognized Indian tribe (“Buyer”),
        would
        be prepared to enter
        into a binding Purchase and Sale Agreement (the “Purchase
        Agreement”)
        to
        purchase from Seller the real property described above, together with all
        improvements (including without limitation mobile homes and billboards) fixtures
        and personal
        property excluding business inventory (collectively,
        the “Property”),
        subject
        to the terms and conditions set forth below.

       

      
        
          	
                	
                  1.

                	
                  Purchase
                    Price

                

        

         

      

      The
        Purchase Price will be $2,500,000, to be paid in cash at Closing.

       

      
        	
              	
                2.

              	
                Earnest
                  Money

              

      

       

      The
        Purchase Agreement will provide that within three (3) business days after
        full
        execution of the Purchase Agreement Buyer will deliver to a title company
        mutually agreed upon by Buyer and Seller the sum of $100,000 as Earnest Money,
        which sum shall be deposited in an interest-bearing account. The Earnest
        Money
        will be applied to the Purchase Price at Closing. The Earnest Money
        will
        be
paid
        to
Seller
        as
        liquidated
        damages
        in
        the
        event
        of Buyers default.

       

      
        	
              	3.	
                Purchase
                  Agreement

              

      

       

      Within
        ten (10) days after approval of this letter of intent by Buyer’s Tribal Council,
        Buyer’s legal counsel will deliver to Seller a draft of the Purchase Agreement
        for review and comment by Seller and its legal counsel.

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

       

      Mr.
        Mike
        Martinez

      November
        27, 2006

      Page
        2

      

      

      
        	
              	4.	
                Inspection
                  Period; Deliverables

              

      

       

      During
        the period from the effective date of the Purchase Agreement through the
        60th
        day thereafter (the “Inspection
        Period”),
        Buyer
        will have the right to undertake a full inspection and investigation of the
        Property and the materials to be delivered by Seller set forth below. Buyer
        may
        consult with Seller regarding any unsatisfactory matter revealed in its
        examination of the Property, which may be curable. However, Buyer will be
        entitled to terminate the Purchase Agreement in its sole discretion prior
        to the
        expiration of the Inspection Period, in which event the Earnest Money will
        be
        returned to Buyer. In the event that Buyer does not terminate the Purchase
        Agreement prior to the expiration of the Inspection Period, Buyer will be
        deemed
        to have accepted the condition of the Property. Not later than 20 days after
        the
        effective date of the Purchase Agreement, Seller will deliver to Buyer copies
        of
        all documents, reports and investigations in the possession or control of
        Seller
        concerning the Property and the business of Seller operated upon the Property.
        As soon as possible after the effective date of the Purchase Agreement, Buyer
        will obtain: (a) from Brian McClintok surveyors, a current ALTA survey of
        the
        real property certified to Seller, Buyer and the Title Company and which
        complies with the requirements for deletion of the survey exception in the
        owner
        title policy, and (b) from Souder Miller & Associates, a current Phase I
        environmental site assessment concerning the real property and improvements
        addressed to Seller and Buyer. Seller shall reimburse Buyer for the cost
        of such
        survey and environmental site assessment at Closing, or (if Buyer terminates
        the
        Purchase Agreement under the right granted therein) upon the earlier to occur
        of
        (i) the closing of the sale of the Property to another purchaser, or (ii)
        150
        days after the date when Buyer terminates the Purchase Agreement.
        Notwithstanding the foregoing, in the event that the Phase l environmental
        site
        assessment described above recommends a Phase II report or any other study,
        testing or investigation concerning the real property and/or improvements,
        Seller shall be obligated at its sole cost and expense to promptly commission
        such additional study, testing or investigation, and the Inspection Period
        shall
        be extended under such circumstances to the date which is 20 days after the
        delivery to Buyer of a Phase II report or other satisfactory documentation
        concerning such additional study, testing or investigation.

       

      
        	
              	5.	
                Title

              

      

       

      Within
        20
        days after the effective date of Purchase Agreement, Seller will deliver
        for Buyer’s review a current title commitment issued to Buyer and copies
        of
        all
        exception documents. Buyer will be required to make any objections to title
        matters or to the survey within 10 days after receipt of the last of the
        title
        commitment, the title exception documents and the survey. Seller will then
        have
        until three (3) business days before the Closing Date in which to cure any
        objections (though Seller shall have no obligation to cure such objections).
        Seller will convey good and marketable title to the Property by special warranty
        deed, subject to the permitted exceptions approved by Buyer in its review
        of
        title. Seller will provide, at its expense, an owner policy of title insurance
        issued to Buyer by the
        title
        company endorsed to delete the standard exceptions, in the full amount
        of
        the
        Purchase Price.

       

      
        	
              	6.	
                Closing

              

      

       

      Consummation
        of the proposed transaction (“Closing”) will take place on
        January 30, 2007 or such earlier date as the parties may mutually agree upon.
        Prorations for real estate taxes and assessments
        and all other items customarily prorated
        in similar commercial transactions will be prorated at Closing based
        upon
        the best
        information available at that time. Notwithstanding the foregoing, in the
        event
        that the Inspection Period is extended under Section 4 above for a Phase
        II
        report or other documentation concerning additional study, testing or
        investigation, the Closing shall be extended to the first business day after
        the
        expiration of 10 days after the expiration of the Inspection Period, as
        extended.

       

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

         

      

      Mr.
        Mike
        Martinez

      November
        27, 2006

      Page
        3

       

       

      
        	
              	7.	
                Brokerage
                  Commissions

              

      

       

      Seller
        will pay a brokerage commission to Albuquerque Commercial Realty, as provided
        by
        separate written agreement with Seller. Buyer is not represented by and real
        estate agent or broker.

       

      
        	
              	8.	
                Representations
                  and Warranties/Assignment

              

      

       

      The
        Purchase Agreement will include representations and warranties by Seller
        with
        respect to authority, good standing and authorization to do business, that
        there
        are no adverse parties are in possession of the Property, that there is no
        condemnation, litigation or similar proceedings pending or threatened concerning
        the Property, no violation of any ordinance, regulation, law or statute
        affecting the Property (including environmental condition), and no mechanic’s
        lien claims of any kind against the Property. The Purchase Agreement will
        provide that Buyer may assign its rights under the Purchase Agreement to
        an
        affiliate who assumes all obligations of Buyer thereunder.

       

      
        	
              	9.	
                Confidentiality

              

      

       

      The
        parties will maintain the confidentially of the terms of the transaction
        and the
        specific terms and conditions of this letter.

      

      This
        letter is intended only to express the mutual intentions of Seller and Buyer
        on
        a preliminary basis, and to assist the parties in determining whether or
        not
        they
        will ultimately enter into a binding Purchase Agreement. This letter is
        not
        a
        legally binding obligation of either Buyer or Seller, it being understood
        that
        no valid and binding agreement between the parties will exist unless and until
        the parties
        execute a Purchase Agreement in form and substance satisfactory to
        both
        parties.

      

      If
        the
        foregoing reflects the mutual intentions of Seller and Buyer, please arrange
        for
        the authorized representative of the Seller to sign a copy of this letter
        in
        the
        space provided below, and return it to the undersigned as soon as
        possible.

       

      Sincerely,

       

      
        	PUEBLO OF
                LAGUNA	 	 
	 	 	 	 	 
	By:	/s/ Ronald
                E.
                Johnson	 	 	 
	 	
                

              	 	 	
              
	 	Ronald
                E. Johnson,
                Governor	 	 	 

      

       

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

       

      Mr.
        Mike
        Martinez

      November
        27, 2006

      Page
        4

      

       

      
        
          	ACCEPTED: 	 	 
	 	 	 
	BOWLIN TRAVEL
                  CENTERS,
                  INC.	 	 
	 	 	 	 	 
	By:	/s/ Kit
                  Johnson	 	 	 
	 	
                  

                	 	 	
                
	 	Kit
                  Johnson,
                  Director of Operations	 	 	 
	 	 	 	 	 
	Date: November 27,
                  2006

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