EXHIBIT 10.7
May 27, 1997
Xxxx Xxxx
Overland Company
000 X. Xxxxx Xxxxxx
Xxxxxxxx, XX 00000
Dear Xxxx:
This letter confirms our understanding that the Overland Opportunity Fund, LLC,
agrees to purchase the Northwest corner of Washington and Kalmia Streets in
Murrieta for the cash purchase price of $110,000.
Xxxxxx will be held at First American Title Company and shall close as soon as
escrow is in a position to do so. The best estimate of closing is one week.
You will be provided with the correct legal description and a current
preliminary title report.
Please sign this document and fax it back to us immediately. It will be
followed by the appropriate escrow instructions.
Very truly yours,
/s/ Xxx X. Xxxxxx
-------------------------------------------
Xxx X. Xxxxxx
Chairman/CEO
ICN/ajb
Agreed and Accepted:
OVERLAND OPPORTUNITY FUND, LLC
a California limited liability company
/s/ Xxxx X. Xxxx
By:----------------------------------------
Xxxx X. Xxxx
President
Overland Company, Inc., Manager
