(Revised by Sportway of Port Orange Inc. 10-20-2022)
I, Chris Hansen dated this 17th of October, 2022, am interested in purchasing the business and real estate Go-Kart City, also owned by: Sportway of Port Orange Inc., located at: 4114 Nova Rd. Port Orange, Fl 32127, General Manager: Ray Widdick, representative the company.
Dear Sportway of Port Orange Inc:
This letter of intent is to signify the terms and conditions to purchase said property and business. This is non-binding until a satisfactory document due diligence is completed to buyer’s satisfaction and a final purchase agreement is entered into.
I will assume and purchase all assets of the company, valued at $2,150,000. US Dollars
- Seller to hold a private seller financing note for any funds that the lender will not finance up to 18.5% of the total purchase price. How is this to be paid back?
- Seller will contribute $150,000 US dollars closing disbursement to perform improvements, upgrades and additions to the property and business.
- Seller lawyer must approve final Purchase Agreement Contract.
This offer is contingent upon the lender approving these terms and conditions. Current and recent 3 years of tax documents and other pertinent documents needed by title company and lender, will be part of the review process before actual purchase can be made.
The time frame for closing shall be less than 14 days up to 30 day’s review of all tax documents, sales documents.
Signed: /s/ Christopher A. Hansen