ASI Land Holdings, Inc. 4215 Fashion Square Blvd., Suite 3 Saginaw, MI 48603-1273 June 16, 2010 Jerry Polis Davric Corporation 980 American Pacific Dr., Suite 111 Henderson, NV 89014 Dear Jerry:
Exhibit 10.11
ASI Land Holdings, Inc.
0000 Xxxxxxx Xxxxxx Xxxx., Xxxxx 0
Xxxxxxx, XX 00000-0000
0000 Xxxxxxx Xxxxxx Xxxx., Xxxxx 0
Xxxxxxx, XX 00000-0000
June 16, 2010
Xxxxx Xxxxx
Davric Corporation
000 Xxxxxxxx Xxxxxxx Xx., Xxxxx 000
Xxxxxxxxx, XX 00000
Davric Corporation
000 Xxxxxxxx Xxxxxxx Xx., Xxxxx 000
Xxxxxxxxx, XX 00000
Dear Xxxxx:
Prior to the closing of the Plan of Agreement and Recapitalization of ASI Technology Corporation
(XXXX), it was agreed that XXXX would sell its water rights to Davric Corporation for a total of
Three Hundred Thousand Dollars ($300,000).
We are requesting that a payment arrangement be made wherein Davric Corporation will pay XXXX
$100,000 per month for three months under an installment sale arrangement. The payment due dates
will be as follows:
Due immediately |
$ | 100,000 | ||
July 15, 2010 |
$ | 100,000 | ||
August 15, 2010 |
$ | 100,000 |
A xxxx of sale will be completed upon final payment.
If this installment sale arrangement is acceptable to you, please sign below and return a signed
copy to our office.
Best Regards,
|
Acknowledgement: | |||||
ASI Technology Corporation
|
Davric Corporation | |||||
/s/ Xxxx X. Xxxxxxxxx
|
/s/ Xxxxx X. Xxxxx
|