AGREEMENT FOR PURCHASE AND SALE
This Agreement is made and entered into this 5th day of June, 1996, by and between AIRPORT CENTER
PARTNERSHIP, a Nevada general partnership whose address is 3635 W. Twain Ave., Suite B, Las Vegas,
Nevada 89103, ("Seller") and IMAGE ENTERTAINMENT, INC., a California corporation whose address is
9333 Oso Avenue, Chatsworth, California 91311 ("Buyer").
1. RECITALS. Seller is the owner of that certain unimproved real property located on Sunset Boulevard
between Spencer and Bruce, in Clark County, Nevada, comprising approximately 16.5 acres, and more
particularly described in Exhibit "A" attached hereto (the "Property"). Seller desires to sell the Property and
Buyer desires to buy the Property, upon the terms and conditions set forth in this Agreement.
2. PURCHASE AND SALE. Through escrow and at closing as hereinafter provided, and conditioned upon full
performance by Buyer and Seller of their obligations under this Agreement, Seller agrees to sell and Buyer agrees
to buy the Property.
3. PURCHASE PRICE. The purchase price for the Property is Four Million Dollars ($4,000,000) ("Purchase
Price"), which shall consist of $3,700,000 net to Seller less Seller's closing costs, plus a brokerage fee of
$300,000 payable at Close of Escrow (as hereinafter defined) to Encore Group, New America Network
("Encore"). The Purchase Price shall be paid as follows:
(i) Seller shall receive at the Close of Escrow, $2,150,000 in cash or immediately available funds (including the
Earnest Money Deposit (as hereinafter defined), along with any interest that has accrued less Seller's brokerage
fees, costs and expenses); and
(ii) Seller may elect to receive up to One Million Eight Hundred Fifty Thousand Dollars ($1,850,000) payable on
January 2, 1997. Said note shall pay eight percent (8%) simple interest. The Seller may elect to have a greater
portion of this Purchase Price paid in cash at Closing, but must make such election at least 30 days after the