Claim and Cause of Action for Sale

Sale of Rieppel claim and cause of action, and more described as below:

On or around September 16, 2016, Dale and Kathy Rieppel sued Lakota, Inc. and Patrick Kelly.Wright County File No. 86-CV-16-4508. The lawsuit stemmed around Rieppels’ purchase of a2007 Honda motorcycle that was converted into a trike. During this trial, Patrick Kelly allegedfraud on the part of the Rieppels. Rieppels succeeded in that lawsuit and a judgment was issued against Lakota, Inc. for $19,230.00 on November 17, 2017. The November 17, 2017 Judgment was appealed by Lakota, Inc. The Appellate Court affirmed the District Court’s decision, with the exception of $780.00 regarding some take-off parts, and the judgment was reduced to $18,450.00 on August 17, 2018. On or around February 7, 2019, Lakota, Inc. sued the Rieppels regarding the same transaction for the 2007 Honda trike, alleging fraud. Rieppels responded and alleged retaliatory litigation. Attached and marked as Exhibit #3, please find the Complaint against the Rieppels, and the Rieppels’ Answer. A court trial was originally scheduled for January 1, 2020, then rescheduled to October 5, 2020, then rescheduled again to November 16, 2020. The upcoming trial is why expedited relief if appropriate. On September 17, 2020, the Trustee filed a Notice of Settlement, to settle the state court action for $1,000.00 payment from the Rieppels. Kensington Bank and Patrick Kelly filed objections to the settlement. On October 29, 2020, the Trustee filed a Motion to approve a settlement with the Rieppels.