SHUMATE INDUSTRIES, INC. STOCK PURCHASE AGREEMENTStock Purchase Agreement • March 28th, 2006 • Shumate Industries Inc • Fabricated structural metal products • Delaware
This Stock Purchase Agreement (“Agreement”) is made as of December 2, 2005, but is only effective as of the date of acceptance of the “Purchaser Signature Page” by and between Shumate Industries, Inc., a Delaware corporation (the “Company”), and the purchaser who executes the Purchaser Signature Page hereto (the “Purchaser”).
LEASE AGREEMENT WITH OPTION TO PURCHASELease Agreement With Option to Purchase • March 28th, 2006 • Shumate Industries Inc • Fabricated structural metal products • Texas
THIS LEASE AGREEMENT WITH OPTION TO PURCHASE (the “Agreement”) is made, entered into and effective as of this 1st day of December, 2005, by and between THE BREWER FAMILY CHARITABLE REMAINDER ANNUITY TRUST NO. 1, with an address of P.O. Box 1710, Ponca City, Oklahoma 74602, ATTN: Larry J. Bartlett, Trustee (“Landlord”), and SHUMATE MACHINE WORKS, INC., 12060 FM 3083, Conroe, Texas 77301, ATTN: Larry C. Shumate (“Tenant”).
SECURITY AGREEMENTSecurity Agreement • March 28th, 2006 • Shumate Industries Inc • Fabricated structural metal products • Oklahoma
THIS SECURITY AGREEMENT is made effective the 19th day of October, 2005, by SHUMATE INDUSTRIES INC. (formerly EXCALIBUR INDUSTRIES, INC.), a Delaware corporation (“Excalibur”) having a notice address of 12060 FM 3083, Conroe, Texas 77301, SHUMATE MACHINE WORKS, INC., a Texas corporation (“Machine”) having a notice address of having a notice address of 12060 FM 3083, Conroe, Texas 77301, in favor of STILLWATER NATIONAL BANK AND TRUST COMPANY (the "Secured Party"), having a notice address at 1500 S. Utica, Tulsa, Oklahoma 74104. Excalibur and Machine are sometimes referred to herein collectively as the “Debtor.”
TEXAS ASSOCIATION OF REALTORS* IMPROVED PROPERTY COMMERCIAL LEASE USE OF THE FORMS BY PERSONS WHO ARE NOT MEMBERS OF THE TEXAS ASSOCIATION OF REALTORS IS NOT AUTHORIZED *Texas Association of REALTORSCommercial Lease Agreement • March 28th, 2006 • Shumate Industries Inc • Fabricated structural metal products
Number Bldg. “D” (suite or unit), containing approximately 25,500 square fee of rentable area, located within the 3083 Industrial Park(building or complex name) on the land known as 12060 FM 3083 Conroe, TX (address, city, state) which is legally described as Or ______________________ £ as described on attached exhibit. “Property” means the building or complex in which the leased premises are located, inclusive of any common areas, drives, parking areas, and walks. The parties agree that the rentable area of the leased premises may not equal the actual or useable area within the leased premises and may include an allocation of common areas in the Property.
LOCKBOX AGREEMENTLockbox Agreement • March 28th, 2006 • Shumate Industries Inc • Fabricated structural metal products
THIS AGREEMENT, is executed effective the 19th day of October, 2005, between SHUMATE INDUSTRIES INC. (formerly EXCALIBUR INDUSTRIES, INC.), a Delaware corporation (“Industries”), SHUMATE MACHINE WORKS, INC., a Texas corporation (“Machine”), and STILLWATER NATIONAL BANK AND TRUST COMPANY, a national banking association (the "Lender"). Industries and Machine are sometimes referred to hereafter collectively as “Account Holders.”
PROMISSORY NOTE (Revolving Note)Promissory Note • March 28th, 2006 • Shumate Industries Inc • Fabricated structural metal products
FOR VALUE RECEIVED, the undersigned SHUMATE MACHINE WORKS, INC., a Texas corporation ("Machine") and SHUMATE INDUSTRIES INC. (formerly EXCALIBUR INDUSTRIES, INC.), a Delaware corporation ("Industries") (Machine, Holdings, and Industries are collectively referred to herein as the "Borrowers"), jointly and severally promise to pay to the order of STILLWATER NATIONAL BANK AND TRUST COMPANY, and its successors and assigns (the "Lender") at 1500 South Utica Avenue, Tulsa, Oklahoma 74104, or at such other place as may be designated in writing by the Lender, the principal sum of ONE MILLION DOLLARS ($1,000,000.00) (the “Face Amount”), or so much thereof which is actually outstanding from time to time, together with interest thereon at the interest rates hereinafter stated, payable as set forth below.
