Filing Details

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

 

SCHEDULE 13D/A

 

First Amendment

 

Under the Securities Exchange Act of 1934

 

 

ATI Modular Technology Corp. f/k/a Global Recycle Energy, Inc.

(Name of Issuer)

Common Stock

(Title of Class of Securities)

00215H 103 (Common Stock)

(CUSIP Number)

Alton Perkins Chief Executive Officers and President 4700 Homewood Court Suite 100 Raleigh, NC 27609

(Name, Address and Telephone Number of Person Authorized to  Receive Notices and Communications)

June 6, 2016 June 13, 2016 through September 13, 2016

(Date of Event Which Requires Filing of this Statement)

 

If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule13D, and is filing this schedule because of §§240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the following box. [ ]

 

Note: Schedules filed in paper format shall include a signed original and five copies of the schedule, including all exhibits. See Rule 13d-7 for other parties to whom copies are to be sent.

 

* The remainder of this cover page shall be filled out for a reporting person’s initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter disclosures provided in a prior cover page.

 

The information required on the remainder of this cover page shall not be deemed to be “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934 (“Act”) or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).

 

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1.	Names of Reporting Persons.
	AmericaTowne, Inc. (“AmericaTowne”) Alton Perkins (“Perkins”) Alton & Xiang Mei Lin Perkins Family Trust (the “Perkins Trust”)
	I.R.S. Identification Nos. of above persons (entities only).   AmericaTowne, Inc. 46-5488722   Perkins Trust 46-7513804

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2.	Check the Appropriate Box if a Member of a Group (See Instructions)
	(a)  [   ]
	(b)  [   ]

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3.	SEC Use Only

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4.	Source of Funds (See Instructions)
	WC (AmericaTowne) PF (Perkins Trust) PF (Perkins)

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5.	Check if Disclosure of Legal Proceedings Is Required Pursuant to Items 2(d) or 2(e)    [  ]

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6.	Citizenship or Place of Organization
	AmericaTowne is incorporated in Delaware. The Perkins Trust is organized under the laws of North Carolina, and Perkins is a resident of North Carolina.

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Number of Shares Beneficially Owned by Each Reporting Person With:	7. Sole Voting Power
	100,000,000 Shares of Common Stock (AmericaTowne)
	101,629 Shares of Common Stock (Perkins Trust)
	15,694 Shares of Common Stock (Perkins)
	8. Shared Voting Power
	100,117,593 Shares of Common Stock
	9. Sole Dispositive Power
	100,000,000 Shares of Common Stock (AmericaTowne)
	101,629 Shares of Common Stock (Perkins Trust)
	15,694 Shares of Common Stock (Perkins)
	10. Shared Dispositive Power
	100,117,593 Shares of Common Stock

 

11.	Aggregate Amount Beneficially Owned by Each Reporting Person
	100,000,000 Shares of Common Stock (AmericaTowne) 101,629 Shares of Common Stock (Perkins Trust) 15,694 Shares of Common Stock (Perkins)

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12.	Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions)    [  ]

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13.	Percent of Class Represented by Amount in Row (11)
	86.15%

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14.	Type of Reporting Person (See Instructions)
	CO (AmericaTowne) OO (Perkins Trust) IN (Perkins)

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Item 1. Security and Issuer

 

ATI Modular Technology Corp. f/k/a Global Recycle Energy, Inc. is a Nevada corporation.

 

Item 2. Identity and Background

 

AmericaTowne, Inc. is a Delaware corporation registered to do business in the State of North Carolina, and its principal place of business is 4700 Homewood Court, Suite 100 in Raleigh, North Carolina 27609 (“AmericaTowne”). Neither AmericaTowne, nor any of its directors or officers, including Perkins, individually or as trustee of the Perkins Trust, have been convicted in any criminal proceeding (excluding traffic violations or similar misdemeanors) during the past five years. During the last five years, neither AmericaTowne, nor any of its directors or officers, have been a party to a civil proceeding of a judicial or administrative body of competent jurisdiction and as a result of such proceeding was or is subject to a judgment, decree or final order enjoining future violations of, or prohibiting or mandating activities subject to, federal or state securities laws or finding any violation with respect to such laws.

 

Item 3. Source and Amount of Funds or Other Consideration

 

$175,000 from AmericaTowne’s working capital.

$30,491 from the Perkins Trust funds.

$90,856 from Perkins, individually.

 

Item 4. Purpose of Transaction

 

The purpose of the transaction related to AmericaTowne was for AmericaTowne to acquire the controlling interest in the Company and proceeding with a change in control event. On June 27, 2016, following consents in lieu of shareholder meeting and in lieu of a meeting of the Board of Directors, Issuer amended its articles of incorporation with the State of Nevada changing the name of the company to the current name of the Issuer, i.e. ATI Modular Technology Corp. Issuer is now an affiliate of AmericaTowne by virtue of AmericaTowne’s majority and controlling interest in the Issuer. Issuer’s new director and officer is Perkins, who is the beneficial owner of the controlling and majority interest in AmericaTowne, and is AmericaTowne’s Chairman of the Board, Chief Executive Officer, Chief Financial Officer, President, Treasurer and Secretary. Issuer also amended its bylaws, and filed a corporate action notification with the OTC Markets Group (action regarding change of trading symbol on the OTC Pink).

 

Between June 13, 2016 and September 13, 2016, Perkins, individually and as trustee of the Perkins Trust, purchased with personal funds on the open market 15,964 shares and 101,629 shares, respectively, of the Issuer’s common stock at the average per share price of $1.94 and $.89, respectively. The purpose of these transactions were to purchase for the account of Perkins’ and Perkins’ Trust personal accounts.

 

 

 

Item 5. Interest in Securities of the Issuer

 

No additional disclosure required under Item 5 of 17 CFR 240.13d-101.

 

Item 6. Contracts, Arrangements, Understandings or Relationships with Respect to Securities of the Issuer

 

No additional disclosure required under Item 5 of 17 CFR 240.13d-101.

 

Item 7. Material to Be Filed as Exhibits

 

Stock Purchase and Sale Agreement dated June 2, 2016.

 

/s/Alton Perkins

AmericaTowne, Inc.

By: Alton Perkins

Its: Chief Executive Officer

 

/s/Alton Perkins

Alton & Xiang Mei Lin Perkins Family Trust

By: Alton Perkins

Its: Trustee

 

/s/Alton Perkins

Alton Perkins 

 

 

STOCKPURCHASEANDSALEAGREEMENT

 

THISSTOCKPURCHASEANDSALEAGREEMENT(“Agreement”)iseffectiveasofthe2^nd dayofJune,2016 (the “Effective Date”),byandbetweenJosephArcaro(“Seller”),anindividualwithanoticeaddressof 22837PacificCoastHighway,Suite632,Malibu,CA90265,andAmericaTowne,Inc.aDelawarecorporation,or its designee or assign,with a notice address at 4700 Homewood Court, Suite 100, Raleigh, North Carolina 27609 (“Buyer”).

 

WHEREAS,SellerownsONEHUNDREDMILLION(100,000,000)restrictedsharesof commonstock(the"Shares")ofGlobalRecycleEnergy,Inc.,(OTCPinkGREI)aNevadacorporation(the"Company").ThisAgreementprovidesfortheacquisitionoftheSharesbyBuyer, in a private transaction whereby Buyer intends on holding the shares acquired in its account for its own benefit and not with the intent of public resale or distribution,foratotal purchasepriceofONEHUNDREDSEVENTYFIVETHOUSANDU.S.Dollars($175,000.00)(the “PurchasePrice”)on theterms andconditionsset forthbelow.

 

WHEREAS,SellerandBuyerhavedetermined,subjecttothetermsandconditionssetforthin thisAgreement,thatthetransactioncontemplatedherebyisdesirableandinthetheirbestinterests, respectively.

 

NOW, THEREFORE,onthestatedpremisesandforandinconsiderationofthemutualcovenantsandagreementshereinaftersetforthandthemutualbenefitstothepartiestobederivedhere from,itisherebyagreedasfollows:

 

 

ARTICLEI

SALEANDPURCHASEOFTHESHARES

 

Section1.1 SaleandPurchase. Subjecttothetermsandconditionshereof,attheClosing(asdefinedinparagraph1.2below),Selleragreestosell,assign,transfer,conveyanddelivertoBuyerorBuyer’sassignee,andBuyeragreestopurchasefromSeller,theShares. The Shares and the Purchase Price, as defined below, are to be transferred and paid, respectively, through the Escrow Agent pursuant to the terms and conditions of the Escrow Agreement, which is incorporated herein by reference.

 

Section1.2Closing.ThepurchaseoftheSharesshallbeconsummated at a closing ("Closing") to take place on or before June 6, 2016, unless otherwise agreed upon by the parties in a writing signed by the parties (the"ClosingDate").The PurchasePricefortheSharesshallbepaidonorbeforetheClosingDate,byBuyertoSeller, through the Escrow Agent,bywire transferorotherformofimmediatelyavailablegoodfundsagainstdeliveryoftheShares, through the Escrow Agent,intransferable formfromSellertoBuyerorBuyer’sassignee,providedtofacilitatetheClosing.

 

ARTICLEII

REPRESENTATIONS,COVENANTSANDWARRANTIES

 

AsaninducementtoandtoobtaintherelianceofBuyer,SellerindividuallyrepresentsandwarrantstoBuyerasfollows:

 

    Section2.1 NoConflict,Authority,IssuedShares.TheexecutionofthisAgreementandtheconsummationofthetransactionscontemplatedbythisAgreementwillnotresultinthematerial breachofanytermorprovisionof,orconstituteaneventofdefaultunder,anymaterialdebtinstrument,whichmayincludeanindenture,mortgage,deedoftrustorothercontract,agreementorinstrumentto whichSellerisapartyortowhichtheSharesaresubject.Sellerhasfullpower,authorityandlegalrightandhastakenallactionrequiredbylaworotherwisetoauthorizetheexecutionanddeliveryofthis Agreement.TheCompanyisauthorizedtoissueuptotwohundredfiftymillion(250,000,000)sharesof commonstock.

 

Section2.2TitletotheShares;NoPendingLitigation.Sellerownsof record andbeneficiallytheSharesoftheCompany,freeandclearofallliens,encumbrances,pledges,claims,options, charges andassessments of anynature whatsoever, withfull right andlawful authority totransfertheSharestoBuyer.NopersonhasanypreemptiverightsorrightsoffirstrefusalwithrespecttoanyoftheShares.Thereexistsnovotingagreement,votingtrust,oroutstandingproxywithrespecttoanyofthe Shares. OtherthandisclosedbytheSellertothe Buyer, therearenooutstandingrights,options,warrants, calls, commitments, or any other agreements of any character, whether oral or written, with respect to theShares. To Seller’s actual knowledge, there is no pending or threatened complaint, suit, demand or other dispute relating to the Shares or theCompany. The Company is validlyexisting and in good standingunderthelawsoftheStateofNevada,andholdsaNevadaStateBusinesslicense.The Company is in full compliance with the March 27, 2015 order issued by the District Court in Clark County, Nevada (Case No. A-15-712031-B). The Company has no assets and no liabilities beyond those liabilities set forth in Schedule A, which the Seller shall direct the Escrow Agent to pay off at Closing.

 

 

Section2.3 BrokersandFinders. TheSellerrepresentsandwarrantsthathe/she/ithasmadenoagreementsinvolvinganyfeesofanytypethatrelatetothisAgreementthatwouldinvolvethe Buyer,includingbutnotlimitedtobroker’sfee,finder’sfeesoranysimilarcompensationarrangement.

 

Section 2.4 Continued Operation of Business in Usual Course. The Seller agrees to exercise his controlling shares in the Company to operate the business of the Company in the usual course; however, the Seller agrees not to incur any additional liabilities between the Effective Date and Closing, and agrees not to issue any securities of the Company without the written consent of the Buyer.

 

AsaninducementtoandtoobtaintherelianceofSeller,BuyerindividuallyrepresentsandwarrantstoSellerasfollows:

 

Section2.5 NoConflict,Authority.TheexecutionofthisAgreementandtheconsummationofthetransactionscontemplatedbythisAgreementwillnotresultinthematerialbreachofanytermor provisionof,orconstituteaneventofdefaultunder,anymaterialdebtinstrument,whichmayincludeanindenture,mortgage,deedoftrustorothercontract,agreementorinstrumenttowhichBuyerisaparty.Buyer has full power, authority and legal right and has taken all action required by law or otherwise toauthorize the execution and delivery of this Agreement.

 

Section2.6RestrictedShares. BuyeracknowledgesthattheSharespurchasedhavenotbeenregisteredundertheSecuritiesActoranystatesecuritieslaws,willbeissuedinrelianceuponan exemptionfromtheregistrationandprospectusdeliveryrequirementsoftheActwhichrelatetoprivate offerings,willbeissuedinrelianceuponexemptionsfromtheregistrationandprospectusdeliveryrequirements of state securities laws which relate to private offerings and the Buyer must therefore bear the economicriskofsuch investmentindefinitelyunlessa subsequentdispositionthereofis registered under the Act and applicable state securities laws or is exempt therefrom.Buyer acknowledges that the shares shall bear restrictive legends. Buyer further represents that the Shares are being purchased for its own account, pursuant to consents and resolutions of its Board of Directors, without the intent to resell to the public absent an exemption to registration or registration of the Shares.

 

Section2.7Buyer’sSophistication.Buyer(i)acknowledgesthatthepurchaseofSharesinvolvesahighdegreeofriskinthattheCompanyhaslimitedbusinessoperationsandmayrequire substantialfunds;(ii)aninvestmentintheCompanyishighlyspeculativeandonlyinvestorswhocan affordthelossoftheirentireinvestmentshouldconsiderinvestingintheCompanyandtheShares;(iii)hassuchknowledgeandexperienceinfinance,securities, investments,includinginvestmentinnon-listed andnonregisteredsecurities,andother businessmatterssoastobe abletoprotectitsinterestsin connectionwiththistransaction;(iv)thatthesaleoftheShares toBuyerisnotregisteredwiththeU.S. Securities and Exchange Commission or with the securities administrator of any state; (v) that the Shares arebeingsoldpursuanttoanexemptionfromsuchregistrationrequirements;and(vi)theSharesare “restricted securities” that will bear a restrictive legend prohibiting their further transfer without registration or any exemption therefrom.

 

Section2.7DueDiligenceMaterialsProvided.Buyeracknowledges that Seller hasprovidedBuyerprovidedBuyerwithtrueandaccuratecopiesofallcorporatebooksandrecordsrelating totheCompanyinSeller’spossessionorcontrol.BuyeracknowledgesthatSellerhasonlyrecentlybecomethecontrollingshareholderoftheCompanyandhasobtainedcontroloftheCompanythrough courtprocesswhich,byitsnature,providesSellerwithonlyvery limitedinformationregardingthe Company, its history, its financial condition and any potential debts, obligations, liabilities or other claims. Buyer understands that there may be significant obligations, claims or other obligations against the Company of which the Seller is unaware that would make the Company unsuitable for the business operations therein contemplated by Buyer, and Buyer expressly assumes such risk.

 

 

ARTICLEIII

 EXCHANGE PROCEDUREANDOTHERCONSIDERATION

 

Section3.1Seller’sDelivery.OntheClosingDate,theSellershalldeliverthefollowingtoBuyer,conditionedupon(i)allofBuyer’srepresentationsandwarrantiessetforthinSection2,above,shallbetrueandcorrectasoftheClosing,and(ii)Buyer’sperformanceofitsdeliveryobligationsinsection3.2,below:

 

(a) TheSharestogetherwithastockpowerorotherinstructionrequiredforthetransferof theSharestoBuyer.Anindemnificationwillbeusedandisapprovedby Pacific Stock Transferinlieuofmedallion.Ifnecessary, aftertheClosing,theSellershallalsoexecutesuchothercertificatesorotherdocumentsreasonablynecessarytotransferthe SharestoBuyer.

 

(b) An updated list of shareholders as of Closing.

 

(c) WrittenconsentfromtheCompany’sboardofdirectors or shareholders, consistent with the Company’s Bylaws and Articles of Incorporation approving this Agreement and the transaction contemplated hereunder, and appointingBuyer’sdesignee(s)totheboardofdirectors,effectiveuponClosing.

 

(d) WrittenresignationfromallmembersoftheCompany’s boardofdirectorsexceptingonlyBuyer’sdesignee,effectiveuponClosing.

 

(e) AwrittenresignationfromallofficersoftheCompany,effectiveuponClosing.

 

(f) Final payoff letters from those vendors identified on Schedule A.

 

(g) Any required notifications provided to FINRA, SEC or OTC Markets Group.

 

(h) Executed Indemnification and Hold Harmless Agreement related to the Oil Lease.

 

(i) Assignment between the Company and Arcaro regarding the transfer of the Oil Lease.

 

 

Section3.2Buyer’sDelivery.OntheClosingDate,BuyershalldeliverthefollowingtoSeller,conditionedupon(i)allofSeller’srepresentationsandwarrantiessetforthinSection2,above,shallbetrueandcorrectasoftheClosing,and(ii)Seller’sperformanceofitsdeliveryobligationsinsection3.1,above:

 

(a) PurchasePriceingoodfundstotaling$175,000 through the Escrow Agent.

 

(b) Aconsent/resolution from the Buyer’s Board of Directors appointing nominees to serve on the Board of Directors of the Company effective immediately upon Closing, and appointment of officers pursuant to the Company’s Bylaws. The consent/resolution will also include (i) approval and ratification of the Buyer’s obligations under this Agreement, (ii) mailing address for each director and officer appointed by Buyer, (iii) identification of the Company’s new registered agent, and (iv) any other corporate matters associated with the Company’s ongoing business.

 

ARTICLEIV

MISCELLANEOUS

 

Section4.1 NotificationofPinkOTCMarkets,Inc.andNevadaSecretaryofState. Buyershall,notlaterthanforty-eight(48)hoursfollowingtheClosing,takethefollowingactions:

 

(a) NotifyOTC Markets Group,bothviacertifiedletterandbyaccesstothewebsite sectionofwww.otcmarkets.comestablishedforthispurpose,ofthenewaddressandregisteredagentfortheCompany,thenewdirector(s)and officers oftheCompany,includingitsPresident. Buyer shall be responsible for any and all costs associated with this notification.

 

(b) NotifytheNevadaSecretaryofState,byfilinganamended annuallistofofficersanddirectorsandbyamending its articles of incorporation in changing its residentagentnotification,ofthenewaddressandresidentagentfortheCompany,thenewdirector(s)oftheCompanyandthenewofficersoftheCompany,includingitsPresident.Buyershallpromptlypayanyfeesassociatedwiththesefilings.

 

(c) ConfirmtoSellerinwritingviacertifiedlettertoSeller,andbyprovidingcopiesofthenoticesandfilingsprovidedtoOTCMarkets Group andtheNevadaSecretaryof State thatBuyerhasperformeditsobligationspursuanttosections4.1(a)and(b),above. ShouldBuyerfailtoperformaccordingtothisSection4.1,Buyerexpresslyauthorizes SellertoprovidethenoticesandfilingscontemplatedbythisSection4.1,andBuyer agreestopromptlyreimburseSellerforallexpensesrelatedthereto,includingfilingfees andattorney’sfeesactuallyincurred.

 

Section4.2Notices. Anynoticesorothercommunicationsrequiredorpermittedhereunder shallbesufficientlygivenifpersonallydeliveredtoitorsentbyregisteredmailorcertifiedmail,postageprepaid,orbyprepaidtelegramaddressedtotheaddressessetforthinthisAgreementorsuchother addressesasshallbefurnishedinwritingbyanypartyinthemannerforgivingnoticeshereunder,andanysuchnoticeorcommunicationshallbedeemedtohavebeengivenasofthedatesodelivered,mailed ortelegraphed.

 

Section4.3Attorneys'Fees.Exceptasexpresslyprovidedherein,eachpartywillbe responsiblefortheirownattorney’sfees.

 

Section4.4Confidentiality. Eachpartyheretoagreeswiththeotherpartythat,unlessand untilthetransactionscontemplatedbythisAgreementhavebeenconsummated,theyandtheir representativeswillholdinstrictconfidencealldataandinformationobtainedwithrespecttoanother partyoranysubsidiarythereoffromanyrepresentative,officer,directororemployee,orfromanybooksorrecordsorfrompersonalinspection,ofsuchotherparty,andshallnotusesuchdataorinformationor disclose the same to others, except:(i) to the extent such data is a matter of public knowledge or is requiredbylawtobepublished;and(ii) totheextentthatsuchdataorinformationmustbeusedor disclosed in order to consummate the transactions contemplated by this Agreement. Notwithstanding, Seller authorizes Buyer to disclose any confidential information related to the Company and this Agreement to the extent necessary in Buyer’s disclosure requirements as a reporting company under the rules promulgated by the United States Securities and Exchange Commission, and in the event Buyer elects to exercise its controlling interest in the Company after the Closing to become subject to the reporting requirements for public companies.

 

Section4.5ThirdPartyBeneficiaries. This contract is betweenSeller and Buyer.Nootherpersonorentityshall bedeemedtobeathirdpartybeneficiaryofthisAgreement.

 

Section4.6EntireAgreement.ThisAgreement, and the Escrow Agreement,representstheentireagreementbetweenthepartiesrelatingtothesubjectmatterhereof.ThisAgreementalonefullyandcompletely expressesthe agreementofthepartiesrelatingtothesubjectmatterhereof.Therearenoothercoursesofdealing, understanding,agreements,representationsorwarranties,writtenororal,exceptassetforthherein.This Agreementmay notbeamendedormodified,exceptbyawrittenagreementsignedbyallpartieshereto.

 

Section4.7Survival;Termination.Therepresentations,warrantiesandcovenantsoftherespectivepartiesshallsurvivetheClosingDateandtheconsummationofthetransactionsherein contemplatedwithintheapplicablestatuteoflimitations.

 

Section4.8 Counterparts.ThisAgreementmaybeexecutedinmultiplecounterparts,each ofwhichshallbedeemedanoriginalandallofwhichtakentogethershallbebutasingleinstrument.

 

Section4.9AmendmentorWaiver.Everyrightandremedyprovidedhereinshallbecumulativewitheveryotherrightandremedy,whetherconferredherein,atlaw,orinequity,andmaybeenforcedconcurrently herewith, and nowaiver by any partyof the performance ofany obligation by the other shall be construed as a waiver of the same or any other default then, theretofore, or thereafter occurring or existing. At any time prior to the Closing Date, thisAgreement may be amended by a writing signed by all parties hereto, with respect to any of the terms contained herein, and any term or conditionof this Agreement maybe waived orthe time forperformance hereof maybe extended bya writingsignedbythepartyorpartiesforwhosebenefittheprovisionisintended.

 

 

Section4.10Expenses. Eachpartyhereinshallbearalloftheirrespectivecostsandexpenses incurredinconnectionwiththenegotiationofthisAgreementandintheconsummationofthe transactionsprovidedforhereinandthepreparationthereof.

 

Section4.11Headings;Context.TheheadingsofthesectionsandparagraphscontainedinthisAgreementareforconvenienceofreferenceonlyanddonotformaparthereofandinnoway modify,interpretorconstruethemeaningofthisAgreement.

 

Section4.12Benefit.ThisAgreementshallbebindinguponandshallinureonlytothe benefitofthepartieshereto,andtheirpermittedassignshereunder.ThisAgreementshallnotbeassignedbyanypartywithoutthepriorwrittenconsentoftheother party.

 

Section4.13Severability.Intheeventthatanyparticularprovisionorprovisionsofthis Agreementortheotheragreementscontainedhereinshallforanyreasonhereafterbedeterminedtobe unenforceable,orinviolationofanylaw,governmentalorderorregulation,suchunenforceabilityorviolationshallnotaffecttheremainingprovisionsofsuchagreements,whichshallcontinueinfullforceandeffectandbebindingupontherespectivepartieshereto.

 

Section4.14No Strict Construction.Thelanguage of thisAgreement shall be construed asa whole,accordingtoitsfairmeaningandintendment,andnotstrictlyfororagainsteitherpartyhereto, regardlessofwhodraftedorwasprincipallyresponsiblefordraftingtheAgreementortermsorconditions hereof.

 

Section4.15ExecutionKnowingandVoluntary.InexecutingthisAgreement,thepartiesseverallyacknowledgeandrepresentthateach:(a)hasfullyandcarefullyreadandconsideredthis Agreement; (b) has been or has had the opportunity to be fully apprised by its attorneys of thelegal effectandmeaningofthisdocumentandalltermsandconditionshereof; (c)isexecutingthisAgreement voluntarily, free from anyinfluence, coercion or duressof any kind.

 

Section4.16 FurtherAssurances,Cooperation. Eachpartyshall,uponreasonablerequest bytheotherparty,executeanddeliveranyadditionaldocumentsnecessaryordesirabletocompletesalecontemplatedbythisAgreement.Thepartiesheretoagreetocooperateandusetheirrespective reasonablebesteffortstoconsummatethetransactionscontemplatedbythis Agreement.

 

Section4.17GoverningLaw.ThisAgreementshallbeconstrued(bothastovalidityandperformance)andenforcedinaccordancewithandgovernedbythelawsofthestateofNevadaapplicable toagreementsmadeandtobeperformedwhollywithinsuchjurisdictionandwithoutregardtoconflicts oflaws.AnydisputearisingoutofthisAgreementshallberesolvedinthestateorfederalcourtssitedin ClarkCounty,Nevada,totheexclusionofallothervenues.Theprevailingpartyinanysuchactionshallbeentitledtoanawardofcostsanditsreasonableattorneys’ fees.

 

Section 4.18 Conflict Disclosure and Waiver. The Seller acknowledges that the law firm of Paesano Akkashian Apkarian, P.C. (the “Firm”) represents the interests of the Buyer in this transaction. The Seller has not sought, or been given, legal advice from the Firm. The Seller has been advised of the conflict of interest in the Firm serving as counsel for the Buyer and as Escrow Agent under the Escrow Agreement, as more thoroughly set forth in the Escrow Agreement, and has knowingly and willingly waived any conflict of interest after having sufficient opportunity to evaluate the conflict.

 

 

 

 

INWITNESSWHEREOF,thepartiesheretohavecausedthisAgreementtobeexecutedasofthedatefirstabovewritten.

 

Seller       /s/Joseph Arcaro		Buyer        /s/Alton Perkins   AltonPerkins CEO,ChairmanoftheBoard AmericaTowne,Inc.
JosephArcaro President GlobalRecycleEnergy,Inc.
AddressofSellerforNotices:   JosephArcaro 22837PacificCoastHighway Suite632 Malibu,CA90265		AddressofBuyerforNotices:   AltonPerkins 4700HomewoodCourt Suite100 Raleigh,NorthCarolina27609   Copy to:   Paesano Akkashian Apkarian, P.C. c/o Anthony R. Paesano 7457 Franklin Road Suite 200 Bloomfield Hills, MI 48301

 

 

 

Schedule A

 

Liabilities to be Paid at Closing