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Exhibit 10.2
PURCHASE AND SALE AGREEMENT
THIS PURCHASE AND SALE AGREEMENT is made as of the 30th day of June,
1999, by and between LAHAINA ACQUISITIONS, INC., a Colorado corporation
("Lahaina"), and MONGOOSE INVESTMENTS, LLC, a Georgia limited liability company
("Mongoose"). Capitalized terms not defined herein shall have the meaning set
forth in that certain Purchase and Sale Agreement by and among Lahaina, Xxxxx
Xxxx and JP Concepts, Inc. ("JP Concepts") dated March 1, 1999.
W I T N E S S E T H:
WHEREAS, Mongoose desires to purchase, and Lahaina desires to sell, all
of the Assets and all capital stock of JP Concepts which is held by Lahaina and
all of the capital stock of JP Concepts held by Lahaina as of the date of this
agreement;
NOW, THEREFORE, for and in consideration of the mutual promises and
covenants contained herein, the receipt and sufficiency of which are hereby
acknowledged, the parties hereto agree as follows:
1. PURCHASE AND SALE. Lahaina shall sell, convey, transfer, assign and
deliver to Mongoose and Mongoose shall purchase and accept from Lahaina, upon
the terms and conditions set forth herein, the Assets and all of the issued and
outstanding capital stock of JP Concepts held by Lahaina as of the date of this
agreement (the "JP Stock"). The transfer of the Assets and the JP Stock shall be
made free and clear of all claims, liens and encumbrances.
2. PURCHASE PRICE. The total purchase price of the Assets and the JP
Stock shall be 60,000 shares of common stock of Lahaina.
3. MISCELLANEOUS. This Agreement shall be governed by the laws of the
State of Georgia. This Agreement may be executed in one or more counterparts,
each of which may be considered an original and all of which together shall
constitute one and the same instrument.
[SIGNATURE PAGE FOLLOWS]
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IN WITNESS WHEREOF, the parties have duly executed this Agreement as of
the day and year first written above.
LAHAINA ACQUISITIONS, INC.
By: /s/ Xxxxxx X. Xxxxxxxx
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Xxxxxx X. Xxxxxxxx
Secretary
MONGOOSE INVESTMENTS, LLC
By: /s/ Xxxxxxx X. Xxxxx
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Xxxxxxx X. Xxxxx
Managing Member
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