Restaurant Business in Texas

1. Auction Time: 10:00 a.m
2. Purchase Price consisting of: (a) Payment. As full payment for the Assets, on or before the Closing Date Purchaser shall pay the total of (1) an amount as may be necessary to cure all defaults under the Restaurant Lease and the Franchise Agreement; plus (2) $50,000 (collectively, the "Purchase Price") to Seller by: (i) Contemporaneously with the execution hereof, and as a condition precedent to Seller's obligations under this Agreement, Purchaser shall deposit the sum of $25,000 (the "Earnest Money") by wire transfer of immediately available funds into an account designated by the Seller (or other form of payment acceptable to Seller), which shall be refunded to Purchaser only in the event of a sale of substantially all of the assets, and assignment of the executory contracts and unexpired leases of the Seller to a party other than Purchaser for an amount in excess of the Purchase Price. It is specifically contemplated and agreed that the Earnest Money may be immediately utilized to fund expenses in the Receivership Case and Bankruptcy Case; and (ii) At Closing, the sum of $25,000 by wire transfer of immediately available funds into an account designated by Seller (or other form of payment acceptable to Seller).
3. Bid Amount: Must be at least $30,000 higher than the sale price
4. Bid Increment: $10,000
5. Bid Deposit: $25,000
6. Bid Deadline: January 22, 2019
7. Last date to respond: February 5, 2018

See Attached.