Exhibit 10.2
ADDENDUM TO
AGREEMENT FOR SALE AND PURCHASE
OF
AIRCRAFT
This Addendum is entered into effective December 15, 2003, by and between
CLB Corporation (CLB), a Utah Corporation ("Seller"), and Alpine Aviation,
Inc., d/b/a Alpine Air, a Utah Corporation ("Buyer").
WITNESSETH
WHEREAS, the parties entered into a certain Agreement for Sale and
Purchase of Aircraft dated July 31, 2003, (hereinafter "Agreement"); and
WHEREAS, the parties desire to amend certain of the terms of said
Agreement to reflect the actual closing date and other details;
NOW THEREFORE, in consideration of the execution and full performance of
the tems of said Agreement and the mutual covenants and conditions contained
herein, the parties agree as follows:
1. Paragraph 4, entitled "CLOSING AND DELIVERY OF AIRCRAFT"
shall be amended by adding an additional sentence at the end
thereof as follows: "The closing of this transaction shall
take place on or about December 15, 2003."
2. Exhibits "A" and "C" to the Agreement shall be amended to
reflect that the total debt being assumed by Buyer instead
of $796,034.00, is the sum of $707,644.31. The reduction in
debt made by CLB during the period from August 1, 2003, to
December 15, 2003 in the amount of $88,389.69 shall be
applied as a credit toward the CLB Maintenance account
payable owed to Alpine.
3. The remaining terms and conditions of the Agreement not
inconsistent with the foregoing shall continue in full force
and effect. This Addendum may be executed in counterparts
and by facsimile.
IN WITNESS WHEREOF the parties have signed this Agreement effective the
date written above.
SELLER: BUYER:
CLB Corporation Alpine Aviation, Inc.
D/b/a Alpine Air
By/s/Xxxxxx X. Xxxxxxxx By/s/Xxx X. Xxxxxx
--------------------------- ----------------------
Xxxxxx X. Xxxxxxxx, President Xxx X. Xxxxxx, Secretary
REVISED EXHIBIT "A"
Beechcraft Model 99 cargo configured airliners owned by CLB Corporation:
Serial No. Registration No. Loan Amount Lien Holder
U-6 N-95WA $ 0.00 n/a
U-15 N-199GL 0.00 n/a
U-59 N-14MV 0.00 n/a
U-67 N-24BH 0.00 Xxxxx Xxxxx
U-71 N-4381Y 351,563.95 CB&T
U-104 N-899CA 0.00 n/a
U-112 N-99GH 178,040.18 CB&T
U-127 N-99CA 0.00 n/a
U-128 N-955AA 178,040.18 CB&T
U-135 N-326CA 0.00 n/a
X-000 X-000XX 0.00 n/a
U-155 N-99TH 0.00 n/a
U-159 N-950AA 0.00 n/a
U-216 N-216CS 0.00 n/a
U-237 N-237SL 0.00 n/a
X-000 X-000XX 0.00 n/a
TOTAL: $ 707,644.31
REVISED EXHIBIT "C"
BREAKDOWN OF PURCHASE PRICE
CLB Sale Price $ 9,900,000.00
Less credit for debt assumption ( 707,644.31)
Less credit for CLB Maintenance Account Payable ( 88,389.69)
--------------
NET PURCHASE PRICE $ 9,103,966.00
(Represented by Preferred Stock)
