Richard Sheriff Opposing Flows Technology 1829 Harbor Drive Chester, Maryland 21619Agreement to Sell Aquaculture System Tanks • August 15th, 2000 • Powernomics Enterprise Corp • Agricultural prod-livestock & animal specialties • Pennsylvania
This letter agreement confirms our mutual understanding regarding the sale of Aquaculture System Tanks, herein defined as recirculating aquaculture tanks utilizing the patented technology referred to herein, to Powernomics Enterprise Corporation ("PEC"). It is agreed, acknowledged and understood by and between the parties hereto that Opposing Flows Technology, Inc. and/ or Richard Sheriff ("Seller") shall provide the Aquaculture System Tanks to PEC at a fixed price of $25,000 per unit for a period of two (2) years, herein referred to as the "Fixed Price Term." Advance deposits may be paid as appropriate, but in any event, PEC shall pay Seller the entire purchase price within ninety days of each sale.
