1. 07 Mar 2011 BORIS BORISSOV
12:17 305S38072S p.3
IVIMISEON 222 South US
Highway One, 208E
Suite
Phone (800) 601-1649
of florida Atlantic Fax (561) 222-2034
ACCOUNT RECEIVABLE SALE AND
ASSIGNMENT AGREEMENT
(Broker: Advance & Hotdback to Broker)
This Account Receivable Saleand Assignment Agreement (Assignment Agreement) is made
between Boris S Borissov (Broker)
and COMMISSION EXPRESS (CE)
Ref: Ratified contract dated / 2 L. — with Settlement 17]
Date ((
on 7i?c (bA,c.t.,/&Kw, 433KtJ
through Realty Services (Real Estate Company)
- P (Settlement Agent)
WITNESSETH
WHEREAS. Broker is duly licenced real estate Broker entitled to earn
a commissions (accounts
receivable); and
WHEREAS, Broker
is entitled to an account receivable on the sale of the above referenced property; and
WHEREAS, Broker desires to sell and
irrevocably assign this
account receivable to CE, and to grant a
security interestCE in certain property as more
to fully
set forth the Master Repurchase and Security
in
Agreement (Master Agreement)to secure payment of such account receivable to CE;
NOW THEREFORE, in consideration of the sum stated, receipt and sufficiency of which are hereby
acknowledged, and the mutual
terms herein, parties agree as follows:
the
1. The recitals above are incorporated herein. Every reference to Broker" shall deemed to include
be
'Real Estate
Company".
2. Broker hereby irrevocably sells, assigns and conveys to CE all right, title,
and to the account
receivable due Broker the sale referenced above in the amount of$ 3,750.00
on -. 1 (Receivable).
3. a) Upon execution ofthis Assignment Agreement, will pay Broker $ 3,000.00
CE (Advance).
b) Upon receipt by CE of theamount in 2. above, CE will pay 450.00
Broker$_______________ (Holdback),
subject to terms and conditions contained in the Master Agreement. Broker acknowledges the
Grace Period * If redemption check is received in my office on or before 4/01/11, I will
ends on 04/25/2011 reduce my fee from $300 to $225.00.
4. The account receivable beingto CE is free and clear of any
sold liens, claims, security
interests or
other encumbrances. No defense, offset or counterclaim exists or will exist
against the account receivable
and there has been and will no agreement to discount or deduct other charges
be from the account
receivable, except as permitted in writing by CE.
Broker authorizes CE to file Financing Statement s
UCC a form satisfactory to CE, and Broker will
in
reimburse CE for all expenses incurred in the filingof UCC Financing Statements, Continuation
Statements and Termination Statements.
Broker will notify within 5 days of Broker's change
CE of residenceplace of business.
or
5. Broker acknowledges that the primary purpose underlying each transaction represented by this
Agreement is as expressly stated in Section 10 of the Master Agreement.
6. This Assignment Agreement shall be treated as ancillary agreement to that Master Agreement
an
between the parties and shall construed and enforced in conjunction therewith.
be
7. Broker hereby declares under penalty
of perjury that Broker has read each therecitals and terms
of of
this Agreement and they are true and correct to the of
best information and belief.
IN WITNESS WHEREOF, the undersigned have set their hands and seals.
X (Sean X By:
n ividdstyihd For Real
Estate Company) For Commission Express
Boris S Borissov ASSBRKRB 06/09 www.commissioncxpresscoiu/cefa