HomeMy WebLinkAboutBourns, Inc.-2011-31 PURCHASE AND SALE AGREEMENT
(Riverside Highland Water Company Stock)
This Purchase and Sale Agreement ("Agreement"), dated this 25 day of October, 2011, is
entered into by and between the Bourns, Inc., a California Corporation, the ("Seller") and the
City of Grand Terrace,a California Municipal Corporation the("Buyer")jointly the("Parties").
RECITALS
A. Seller is the owner of sixteen (16) shares of capital stock of the Riverside
Highland Water Company. � J
appurtenant U
B. Said shares of capital stock are designated for use on and kasubilmt to Account
#01225000 (newly renumbered as Account No. 04263-01).
C. Seller desires to sell and Buyer desires to purchase, the subject capital stock, at a
price of One Hundred Dollars ($100) per share.
NOW, THEREFORE, IT IS HEREBY AGREED AS FOLLOWS:
1. The foregoing Recitals are true and correct and incorporated herein as if set forth
in full.
2. Upon payment by Buyer to Seller of the amount of Sixteen Hundred Dollars
($1,600), Buyer shall immediately execute a Stock Assignment Separate from Stock Certificate
(in the form attached hereto as Exhibit A) for the Certificate No. 25186 representing Capital
Stock in the Riverside Highland Water Company and convey said Capital Stock to Buyer.
3. The Parties agree to take whatever actions are required if any, by the Riverside
Highland Water Company to formally effectuate the Assignment of the capital stock.
4. If it is necessary for either Party to commence legal action to enforce the
provisions of this Agreement, the prevailing Party shall be entitled to reasonable attorney's fees
and costs.
IN WITNESS WHEREOF, this Agreement has been executed by the Parties on the dates
set forth under their respective signatures below, notwithstanding that this Agreement is dated
for convenience and reference as of the date and year first written above.
"SELLER" "BUYER"
\OJ.,..,. ;..;'Y'';
Bourns, In o 0 : oor�r O 2, City of Grand Terrace
By: SE By
1tL .
T le: Corpo to ecre _ Betsy ms
Date: October 2 2011 , ` Its: City Manager
��'�:9</Fp PN P� ,,` Date: October& 2011
Exhibit A
Form of Stock Assignment Separate From Certificate
(attached)
P t,h'"
per ,o/
�W
12374 Michigan Street • Grand Terrace,CA 82313-6802 • (909)825d128 • FAX(909)825-1716
44
STOCK ASSIGNMENT SEPARATE FROM CERTIFICATE
FOR VALUE RECEIVED, the undersigned hereby sell,assign and transfer unto:
City of Grand Terrace
'****16**•• Shares of the WATER STOCK of the RIVERSIDE HIGHLAND WATER COMPANY
standing in Bourns,Inc.a California Corporation*****
name(s)on the books of said Corporation represented by Certificate(s)No. 25186
Dated Signature
The sitmature(s)on this assignment must correspond with the names)on the face
of the certificate in every particular.without alteration or eniaryemeut•or any chance.
Aced! 04263-01 Unused