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Letter Of Intent

Letter of Intent

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 This Letter of Intent involves

GARB OIL POWER CORP | Garb Oil Power Corporation

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Title: LETTER OF INTENT
Governing Law: Florida     Date: 3/24/2015
Industry: Waste Management Services     Sector: Services

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LETTER OF INTENT

 

This letter of intent is entered into on the date the last party signs between:

 

Pro Peke Power LLC (PPP).

 

And

 

Garb Oil & Power Corporation (“Garb”)

 

PPP is the owner of the premises or property located at 1185 Gooden Crossing, Largo, Florida 33778 and PPP and Garb have together decided to enter into this letter of intent for the purpose of negotiating the terms and conditions of a lease-to-own agreement to be entered into for the property whose address is aforementioned.

 

In consideration of certain obligations mentioned herein, agreed upon by both parties, PPP grants to Garb the option to purchase the aforementioned property. The conditions for the same are agreed upon herein as the basis to enter into a lease-to-own agreement:

 

1. The period for option to purchase starts on the first day Garb is given the right to occupy the portion of the property designated as the 16,838 square foot building in its entirety and terminates six (6) months from the first day at which time this exclusive offer ends if the two parties fail to effect a buy/sell closing on the property between the two parties.

 

2. In order to execute the lease-to-own agreement, Garb agrees to pay PPP a deposit in the amount of $7,000, for which PPP will provide a receipt. This amount will be credited in full as a payment toward the purchase price when the two parties effect a buy/sell closing on the property between the two parties. The fee is not refunded to Garb if Garb defaults on


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