EMI
SALE AGREEMENT
THIS SALE AGREEMENT (the "Agreement") dated this 30th day of July 2024 by and between Electra-Media, Inc. of 4737 W. 156th Street Lawndale, CA 90260 (the "Seller") AND Sunrise Ford 16005 Valley Blvd., Fontana, CA 92335 (the "Buyer"). IN CONSIDERATION OF THE COVENANTS and agreements contained in this Sale Agreement, the parties to this Agreement agree as follows:
1. Sale of Goods: The Seller will sell and deliver to the Buyer the following goods, and perform the below services (the "Goods"):
Digital Sign Upgrade as depicted in Exhibit A and attached and incorporated hereto. Includes entitlement, permit facilitation (see permits below), and project management services. Includes five (5) year Daktronics factory warranty on parts for 15.85mm, 12,000 Nits, LED displays.
2. Purchase Price: The Buyer will accept the Goods and pay for the Goods with the sum of $794,587.00 (the "Purchase Price"), as according to the pricing breakdown table in Exhibit B, which is attached and incorporated hereto, paid as follows:
a. A Down Payment of $317,835.00 upon building permit approval from Sunrise Ford; and b. A Progress Payment of $238,37600 upon shipment of LED displays from City of Fontana; and c. A Balance Payment of $238,376.00 upon turn on of LED Displays from City of Fontana. (Prevailing Wage: Price Includes prevailing wages on on-site labor)
3. Delivery & Completion: Estimated at 90 to 120 days from date of down payment and permit approval.
4. Maintenance Contract: $1,050.00 per month. Includes all labor and crane labor for monthly service to change out LED modules, power supplies, interface cards, line drivers, DVI cards, transformers, fuses, rectifier boards, modem, controller, software, etc., along with preventative maintenance calls once per month over and above emergency weekday calls.
5. Programming Service Agreement: $300.00 per month. which includes daily updates, unlimited changes, graphic design of frames with proofs, Internet downloads, e-mail confirmations, holiday graphics, and weekly frame reviews. All monitoring, scheduling, and programming of city's 15% PSA messages.
6. Permits: Advance permit fee of $10,000 to be paid to EMI upon signing. Actual cost of City application fees, planning and building permit fees are to be billed separately if they exceed $10,000. Any remaining money not spent to be refunded.
7. Exclusions: Buyer to supply sufficient electrical to base of sign and Seller shall connect new electronic components to provided electrical. Seller to provide all power requirements to Buyer (Note: Existing power should be sufficient and will be confirmed by Seller).
8. Terms & Conditions: Terms and conditions for this Agreement can be found at https://www.emisigns.com/terms-conditions and are incorporated herein.
9. Loan Option: $0 Down, 84 months at 7.9% interest rate, after 50% City Funding $6,173/month. (NOTE: Bank makes down payment to put sign into production, buyer pays interest only on advanced $397,294 for the 90 to 120 days during manufacturing and installation. First loan payment starts after sign turns on.)
10. Contingency: Agreement contingent upon EMI obtaining City Funding for 60% of total cost. Following City Funding approval, buyer to approve final terms, conditions, and overall cost.
IN WITNESS WHEREOF the parties have executed this Sales Agreement on this 30*h day of July 2024.
BY: Sunrise Ford (Buyer) BY: Electra-Media, Inc. (Seller) X.
It's General Manager It's President/CEO
Date 08/08/2024 Date July 30, 2024
EXHIBIT A
33-0
LED Cabinet
11'8* EXISTING SIGN UPGRADE
- NEW Illuminated "Ford" Logo
4'-6" Ford
NEW Illuminated Channel
12-0 KNIGHT Logo and Letters
+ REPAINT Existing White
SUNRISE FORD
1- REPAINT Existing Light Gray
UPGRADE DISPLAY
UPGRADE EXISTING DIGITAL
29'-6* 26-6 LED Cabinet LED DISPLAYS AT END OF LIFE
WITH NEW HIGH RESOLUTION
DIGITAL LED DISPLAYS.
75-0"
(3-0" CITY OF FONTANA - REPAINT Existing Black and NEW LED lighting 1'-3" -- REPAINT Existing Light Gray
5'-6" + Existing 30* 0 pipe
- REPAINT Existing Pipes Black
+ Existing 42*Ø base pipe
34-6*
- 15.85mm LED Resolution
-500 Pixels High X 625 Pixels Wide
-12,000 Nits Brightness
EXHIBIT B
CATEGORY DESCRIPTION Daktronics 15.85MM
15.85mm LED Displays,
LED Displays $537,856.00
12,000 Nits
Sign Fabrication & Blake Signs $189,572.00
Installation
Sales Tax State of California $29,019.00
Freight Included with LED Display - --
Sub Total $756,447.00
EMI Overhead Project Management $38,140.00
Grand Total $794,587.00