OCR

Escrow Agent: Anglo California National Bank Dissolution of Land Co.: Following acquisition of shares of Land, Purchasers may cause Land to be dissolved and distribute its assets to its shareholders. If this is done, the real property of Land shall contemporaneously become subject to first deed of trust as security for the unpaid balance of the purchase price. Pledge of Shares: Certificates for shares of Land when received by Purchasers are to be endorsed and returned to Escrow Agent as security for balance of purchase price. Level and Fill: Purchasers on acquisition of shares of Land will level the so-called Bethlehem parcel suitable for industrial development and fill 200 acres of marshland owned by Land. Work to be completed in two years. Purchasers to guarantee level and fill obligation or post surety bond for $1,000,000. If land is not filled a $1,000,000 accelerated payment will be due. Assignment of Contract: This contract and rights shall be assignable by Purchasers to a corporation to be organized by them to purchase the shares purchased by them and upon assignment and assumption of obligations of the Purchasers hereunder, Purchasers ..shall have no further liability under this contract. Dissolution of Land Co.: If assignment of contract is made and Land Co. is dissolved, then the shares of assignee shall be pledged in place of shares of Purchasers under this contract. Notices: Any notice hereunder to Sellers shall be by registered mail to M. G. Goetz, 4115 Packers Avenue, Chicago 9, Illinois.