Annual Payment Rights Under Contract for Sale

Sale of Account Receivable, described as below:

The basis of the account receivable is that by Warranty Deed dated June 5, 2000, and recorded in the Office of the White Pine County Recorder, Ely, Nevada, on June 7, 2000, in Book 315 of Official Records, Page 59, File No. 308855, the Debtor’s husband, Max Gordon Reid, Sr., sold and transferred to their son, Max Gordon Reid, Jr., a parcel of real property consisting of 70 acres in White Pine County, Nevada. The Warranty Deed details the terms of the purchase agreement in that the son would pay $750 per acre for said property, or a total of $52,500.00. The purchase price would be paid in annual payments of $4,000.00 due on November 30th of each year beginning in the year 2000. Interest would accrue on the balance owed at the rate of 6% per annum.

The current principal balance owing on the agreement and account is $19,183.55, plus interest accruing from November 30, 2018.