Laserfiche WebLink
13. Maintenance of Propeiu <br />Seller shall cause the Corporation to pay all taxes and insurance which may be <br />levied against the property of the Corporation and shall cause it to keep, use and <br />maintain such property in a careful manner so as not to unreasonably depreciate the <br />security therein. Seller agrees to cause the Corporation to keep its property in good <br />order and repair and free of all further taxes, liens and encumbrances not reflected on <br />Exhibit B. Seller further agrees and stipulates not to remove the property shown on <br />Exhibit A from the place of business, or to sell, assign or transfer possession of such <br />property or to permit such property to pass from the Corporation's possession <br />without notice and written consent of Buyer, which consent shall not be <br />unreasonably withheld. <br />14. Greens Fees Collection <br />From August 15, 1997, through October 31, 1997, Buyer shall pay to Seller a <br />percentage of the green fees collected during the previous calendar month as follows: <br />$30,000 per month or less 5% of gross receipts <br />Over $30,000 per month 7% of gross receipts <br />The entire percentage of greens fees paid to Seller from August 15, 1997, through <br />October 31, 1997, shall be credited toward the purchase price in Section 3(b) of this <br />Agreement. Seller shall collect and deposit daily with Buyer all green fees, reservation <br />fees, and other fees established by Buyer and shall account for said fees on a cash <br />register tape immediately after payment. Seller shall allow no person or group to play <br />golf, nor to use any of the course facilities, without such person or group first having <br />paid the prescribed fees therefore, unless the nonpayment of said fees has been <br />provided for by specific agreement by Seller. <br />15. Covenant Not to Compete <br />Seller shall not, either directly or indirectly, alone or with others, enter into or <br />engage in the business of retail marketing of golf related merchandise as the Steve <br />Elbe Golf Pro Shop within twenty miles of the City of San Leandro for a period of <br />four years from the date of execution of this Agreement, or so long as Buyer or <br />Buyer's successors carry on a like business, whichever first occurs. Seller shall not, <br />during such period and within twenty miles of the City of San Leandro, divulge, <br />communicate, use to the detriment of Buyer or for the benefit of any other person or <br />persons, or misuse in any way, any confidential information or trade secrets of the <br />GOLF COURSE SERVICES PURCHASE AGREEMENT <br />rev b/27/a7. 6/30/97 <br />