MUTUAL RESCISSION OF SECOND DEED OF TRUST AND SECURITY AGREEMENT
EXHIBIT 00.00.XX
MUTUAL RESCISSION OF
SECOND DEED OF TRUST AND SECURITY AGREEMENT
This Agreement of mutual rescission of a Second Deed of Trust and Security Agreement is made and entered into this 22nd day of January, 2004, by and between ELECTROPURE, INC., a California corporation (“ELTP”), ELECTROPURE HOLDINGS, LLC, a California limited liability company ( “LLC”), and the XXXXXXX X. XXXXX, TTEE, XXXXXXX X. XXXXX DEFINED BENEFIT PENSION PLAN, UNDER AGREEMENT DATED 12/01/98, FBO: XXXXXXX X. XXXX (“Lender”).
The parties hereby mutually acknowledge and agree that:
1. On March 12, 2003, the parties entered into a Second Deed of Trust and Security Agreement, which is attached hereto and marked as Exhibit “A”.
2. The parties to that Second Deed of Trust and Security Agreement and to this agreement of mutual rescission wish to rescind the May 12, 2003 agreement.
Therefore, in consideration of the mutual covenants of the parties, the parties hereby rescind the aforementioned Second Deed of Trust and Security Agreement as of this day first written above. This agreement of mutual rescission shall be binding upon the parties, their successors, assigns and personal representatives. None of the parties shall have any further rights or duties thereunder.
This Agreement shall be governed by and construed in accordance with the laws of the State of California.
This Agreement contains the entire agreement of the parties hereto and may be modified or amended only by a written instrument executed by both parties hereto.
IN WITNESS WHEREOF, the parties have executed this Agreement as of the date first above written.
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ELTP: |
LENDER: |
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ELECTROPURE, INC. |
XXXXXXX X. XXXXX, TTEE, XXXXXXX X. |
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XXXXX DEFINED BENEFIT PENSION PLAN, |
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UA DTD 12/01/98, FBO: XXXXXXX X. XXXX |
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By |
/S/ XXXXX X. XXXXXXX |
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By |
/S/ XXXXXXX X. XXXXX |
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Xxxxx X. Xxxxxxx, President |
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Xxxxxxx X. Xxxxx |
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00000 Xxxxx Xxxxxx Xxxxx |
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000 Xxxxxxxxx Xxxxx |
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Xxxxxx Xxxxx, XX 00000 |
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Xxxxxxxx Xxxx, XX 00000-0000 |
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LLC: |
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By |
/S/ XXXXXXXXX XXXXXXXXX |
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Xxxxxxxxx Xxxxxxxxx, CFO |
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00000 Xxxxx Xxxxxx Xxxxx |
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Xxxxxx Xxxxx, XX 00000 |
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