Purchase and Sale Agreement
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This purchase and sale agreement is entered into this 15th day of September,
2002, by and between American Hospital Resources, Inc. a Utah corporation
("Buyer") and Gaelic Capital Group, a Nevada corporation ("Seller"), whereby
both Buyer and Seller agree to the following:
Recitals
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WHEREAS, Seller is the holder of certain contingent fee rights regarding
securing financing for Parkview Community Hospital Medical Center in Riverside
California ("Contract Rights"), including a fee due Seller by Parkview for
arranging the sale of various real and person property interests,
AND WHEREAS, the major shareholder of Seller, Xxxxxxxxxxx Xxxxxxx, has
agreed to become the Chief Executive Officer of Buyer under a pending employment
agreement,
AND WHEREAS, Buyer believes that it should compensate Seller for the
transfer of these Contract Rights to Buyer,
NOW THEREFORE, both Buyer and Seller agree to the following:
1. Buyer shall purchase the Contract Rights from Seller pursuant to the
June 30, 2002 Employment Agreement with Seller.
2. Seller will pay Buyer $94,500 on or before December 31, 2002
("Consideration").
3. As partial payment of this Consideration, Buyer will forgive
approximately $66,000 in loans previously made to Seller by Buyer.
4. The balance of the Consideration shall be made in installments as
agreed by both Buyer and Seller, until the Consideration in paid in
full.
Agreed this 15th day of September at Santa Ana, California.
Seller Buyer
Gaelic Capital Group American Hospital Resources, Inc.
/s/Xxxxxxxxxxx X. Xxxxxxx /s/Xxxxxxxxxxx X. Xxxxxxx
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President Chief Executive Officer
