ASSIGNMENT OF LAND CONTRACT
EXHIBIT 10.12
WHEREAS, TWIN VEE POWERCATS CO., and CBL, LLC entered into that certain Contract for Sale and Purchase dated October 7, 2021 (the “Contract”), for the purchase of the property located at 0000 Xx. Xxxxx Xxxx, Xx. Xxxxxx, XX (the “Property”);
WHEREAS, Paragraph 7 of the Contract states that TWIN VEE POWERCATS CO. may assign the Contract; and
WHEREAS, TWIN VEE POWERCATS CO. desires to assign the Contract to its wholly owned subsidiary FORZA X1, INC and FORZA X1, INC. desires to accept such assignment.
NOW, THEREFORE, for good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, TWIN VEE POWERCATS CO. hereby assigns and transfers the Contract and all of its rights and obligations under the Contract to FORZA X1, INC.
Dated: March 15, 2022
| TWIN VEE POWERCATS CO. (“Assignor”) | ||
| By: | /s/ Xxxxxx Xxxxxxxx | |
| XXXXXX XXXXXXXX, PRESIDENT and CEO | ||
| ACCEPTED: | ||
| FORZA X1, INC., a Delaware corporation (“Assignee”) | ||
| By: | /s/ Xxx Xxxxxx | |
| XXX XXXXXX, PRESIDENT | ||
