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EXHIBIT 10.4
COMMERCIAL REAL ESTATE SALE CONTRACT
1. This
Contract is made this Nineteenth day of August, 2005 by and
between Western Properties SELLER, and
Western Express, Inc., BUYER.
2.
Witnesseth: The Seller hereby sells to the Buyer the following
described real estate, together with all
improvements thereon, including, if
any, gas heaters, central ventilating,
air-conditioning, lighting, heating, and
plumbing equipment and fixtures, in
Davidson County, State of Tennessee, to wit:
7135 Centennial Place, Nashville, Tennessee
37209.
3. This
sale is subject, however, to any recorded restrictions,
easements,
party wall agreements, community contracts,
and zoning laws.
4. The
purchase price is Eleven Million Nine Hundred Forty Thousand
Dollars ($11,940,000.00), or current value
as appraised. The amount due shall be
paid by satisfaction of existing
encumbrances, cash and or notes payable to
Seller.
5. The
rental from said property, and the interest on any existing
mortgages or Deeds of Trust to which this
sale is made subject, shall be
prorated between the Seller and the Buyer
as of the date of the delivery of the
deed.
6. The
Seller shall pay all taxes, general and special, and all
assessments, which are a lien on said
property and can be paid at the date of
this contract, except that (1) all general
state, county, school and municipal
taxes (exclusive of rebates, penalties or
interest) payable during the calendar
year in which the deed is delivered and (2)
installments due for the year in
which the delivery of the deed occurs for
general or special assessments or both
being paid on an installment basis (future
installments shall be assumed and
paid by the Buyer and shall not be paid by
Seller under this paragraph) shall be
prorated between the Seller and the Buyer
on the basis of the said calendar
year, as of the date of delivery of the
deed. If the amount of any such tax to
be prorated cannot then be ascertained,
proration shall be computed on the
amount thereof for the preceding year.
7. Seller
shall furnish the Buyer an Owner's Title Insurance Policy,
unless waived by Buyer, in the amount of
the purchase price from a company
authorized to insure titles in this state,
insuring a merchantable fe
