AGREEMENTExhibit 10.17 Agreement • July 1st, 2005 • Shopsmith Inc • Special industry machinery (no metalworking machinery)
This Agreement (“Agreement”) is entered into by and between Citizens Finance Company, an Illinois corporation (“CFC”) with its principle place of business in Elmhurst, Illinois, and Shopsmith, Inc., an Ohio corporation (“SSI”) with its principle place of business in Dayton, Ohio.
OPEN END MORTGAGE AND SECURITY AGREEMENTOpen End Mortgage and Security Agreement • July 1st, 2005 • Shopsmith Inc • Special industry machinery (no metalworking machinery)
KNOW ALL MEN BY THESE PRESENTS THAT SHOPSMITH, INC. (collectively the “Mortgagor”), an Ohio corporation, whose address is 6530 Poe Avenue, Dayton, OH 45414, for the consideration of Seven Hundred Eighteen Thousand and 00/100 Dollars ($718,000.00) received or to be received to Mortgagor’s full satisfaction and to Mortgagor or on Mortgagor’s behalf paid or to be paid by NATIONAL CITY BANK, a national banking association, successor by merger to the Provident Bank, having its principal place of business located at 6 North Main Street, Dayton, OH 45412, Attention: Commercial Loan Division, Locator 21-2215, (the “Bank:), gives, grants, bargains, sells, assigns and conveys unto Bank, its successors and assigns, the following described real property, appurtenances and rights:
ON-GOING PURCHASE AGREEMENTOn-Going Purchase Agreement • July 1st, 2005 • Shopsmith Inc • Special industry machinery (no metalworking machinery)
This agreement, made the 26th day of April 2005, by and between Shopsmith Inc. (hereinafter called the Seller), and Great Lakes Financial, LLC (hereinafter called the Buyer).
