Franklin Towers Enterprises, Inc.Letter of Intent • November 27th, 2007 • Franklin Towers Enterprises Inc • Services-prepackaged software
This Letter of Intent (this “Agreement”) shall set forth our mutual agreement regarding a transaction (the “Transaction”) whereby Franklin Towers Enterprises, Inc. or a wholly-owned subsidiary (the “Buyer”) shall acquire certain assets from Zhengzhong Silkworm Industrial Development Co. (the “Seller”), including without limitation, fixed assets, real estate holdings, intellectual property and a long term lease of approximately 15,000 acres of mulberry farms consisting of over 120,000,000 mulberry trees, in consideration for a purchase price to be mutually agreed upon after the Buyer has completed its due diligence investigation of the Seller and its assets. The assets shall be delivered to the Buyer free and clear of any liens and encumbrances.
