EXHIBIT 99.2(E)
Seller: Investors Asset Holding Corp., not in its individual capacity but
solely as Trustee of "AFG/SOO LINE TRUST", c/o Equis Financial Group,
00 X.Xxxxxxxxxx Xxxxxx, Xxxxx 0, Xxxxxx, XX 00000
Buyer: RSL Finance Limited Partnership II
0000 Xxxxx Xxxxxx
000 X. Xxxxxxxx Xxxx.
Xxxxx, XX 00000-0000
Location: see attached
Effective Date: September 30, 1996
Master Lease: 05/01/93
PURCHASE AND SALE AGREEMENT
This agreement (the "Agreement") dated as of the Effective Date, by and between
Seller, having a principal place of business at the address first above written,
and Buyer, having a principal place of business at the address first above
written.
WITNESSETH:
1. Seller agrees to sell to Buyer and Buyer agrees to purchase from Seller, the
items of Equipment (the "Equipment), together with the related leases ("Lease")
listed on the attached Schedule A.
2. PURCHASE PRICE: The purchase price of the Equipment and Lease shall be the
amount set forth on the attached Schedule A plus all applicable sales or
transfer taxes, if any, (the "Purchase Price"), unless Buyer has provided Seller
with a lawful Resale Exemption Certificate or another applicable Tax Exemption
Certificate. The Buyer agrees to buy the Equipment and Lease by delivery of the
Purchase Price to Seller in immediately available funds on or before the
Effective Date. Upon receipt of the Purchase Price in full and any amounts due
and owing hereunder, Seller will execute and deliver a Xxxx of Sale, in
substantially the form attached hereto as Exhibit 1, and any other documents
necessary to convey title to the Equipment and Lease to Buyer.
3. TITLE: Title to the Equipment shall be on an as-is, where-is basis without
representation and warranty of any kind whatsoever except the Seller represents
and warrants that the Equipment and Lease are or shall be, upon delivery of the
Xxxx of Sale, free and clear of any and all encumbrances created by Seller.
4. WARRANTY DISCLAIMER: SELLER DOES NOT WARRANT THE EQUIPMENT IN ANY RESPECT,
EITHER EXPRESSLY OR BY IMPLICATION, AND WITHOUT LIMITING THE GENERALITY OF THE
FOREGOING, SELLER EXPRESSLY DISCLAIMS ANY IMPLIED WARRANTY OF MERCHANTIBILITY,
FITNESS OR ADEQUACY FOR ANY PURPOSE OR USE, QUALITY, PRODUCTIVENESS, OR
CAPACITY. SELLER SHALL ASSIGN TO BUYER (TO THE EXTENT THAT THE SAME MAY BE
ASSIGNABLE), ANY WARRANTY OF THE MANUFACTURER RELATIVE TO THE EQUIPMENT OR
LEASE.
5. MISCELLANEOUS:
A. The Agreement together with the Assignment and Assumption and Xxxx of
Sale relating hereto constitutes the entire agreement between Seller and Buyer
with respect to the purchase and sale of the Equipment and Lease and no
representation or statement not contained herein or in said Xxxx of Sale shall
be binding upon Seller or Buyer as a warranty or otherwise.
B. Seller shall not be liable hereunder for any failure to perform caused
by any circumstances beyond its reasonable control.
C. This Agreement shall be binding upon and inure to the benefit of the
parties hereto and their respective successors and assigns.
D. This Agreement shall be governed by and construed in accordance with
the laws of the Commonwealth of Massachusetts, including all matters of
construction, validity, performance and enforcement.
IN WITNESS WHEREOF, the parties have caused this Agreement to be duly executed
as of the Effective Date of Sale.
SELLER:
Investors Asset Holding Corp., not in its individual capacity but solely as
Trustee of the "AFG/SOO LINE TRUST"
By: /s/ Xxxxx X. Xxxxxxx
----------------------------
Title: Vice President
--------------------------
BUYER: RSL Finance Limited Partnership II
By: /s/ Xxxxxx St. Xxxxx
----------------------------
Title: President
--------------------------
UNION PACIFIC RAILROAD COMPANY
SCHEDULE A
MASTER RENTAL OWNERSHIP
LEASE NO. SCHEDULE PERCENTAGE ASSET DESCRIPTION
---------------------------------------------------------------------------------------
Lessee Name:
Union Pacific Railroad Company RREQUIPMENT 1-A (1) GM LOCOMOTIVES
Union Pacific Railroad Company RREQUIPMENT 1-B (1) GM LOCOMOTIVES
Union Pacific Railroad Company RREQUIPMENT 1-C (1) GM LOCOMOTIVES
(1) Beneficial Owners: American Income Partners IV-D Limited Partnership -
50.00%
American Income Partners V-A Limited Partnership -
50.00%
UNION PACIFIC RAILROAD COMPANY
SCHEDULE B
============================================================================================================================
ADJUSTED PURCHASE PRICE BREAKDOWN
PURCHASE PRICE $35,000,000.00
PLUS: RECEIVABLES PURCHASED $344,961.62
LESS: ADJUSTMENTS ($2,003,128.27)
==============
ADJUSTED PURCHASE PRICE $33,341,833.35
============================================================================================================================
SHARE OF TOTAL PROCEEDS FROM SALE OF UNION PACIFIC RAILROAD COMPANY ASSETS $5,088,956.00
(Portion allocated to American Income Partners V-A Limited Partnership, $2,544,478)
