Exhibit 10.02
LETTER AGREEMENT
ASSET TRANSFER AGREEMENT
Hispano Television Ventures, Inc. (HTV) does hereby agree to pay the
following obligations of American Independent Network, Inc. (AIN):
1. $30,000.00 to Data Sales for the June and July equipment payments.
2. $30,000.00 to Miralite for the July satellite payment.
3. $20,000.00 to the Holland Company for May (partial), June, July, &
August rent.
4. $2,500.00 to Bank One Escrow account.
5. $82,500.00: Total
In consideration for these payments, AIN does hereby agree to pay to HTV
$82,500.00 on or before August 20, 1999. In addition, AIN will provide HTV with
eight months of free uplink use of the equipment and satellite transponder
through AIN.
TRANSFER IN EVENT OF DEFAULT:
Should the above terms not be met, AIN shall immediately transfer and
assign their equipment lease with Data Sales, Inc. Satellite lease with
Miralite, and transfer the FCC Earth Station License to HTV. HTV would then
allow AIN to continue their feed for a fee of $22,500.00 per month starting
September 1, 1999 with one month free usage of the feed if needed with the
payment for use starting in that contingency on or about October 1, 1999.
American Independent Network, Inc. Hispano Television
Ventures, Inc.
By: /S/ XXXX LEMANS By: /S/ XXX X. XXXXXX
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Xxxx Lemans Xxx X. Xxxxxx
CEO Director
Data Sales, Co. Miralite Corporation
By: /S/ XXXXXXX XXXX By: /S/ XXXXX EDILENOUR
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Xxxxxxx Xxxx Xxxxx Edilenour
Vice President Director of Finance
