EQUIPMENT SALES CONTRACT
1. CONTRACT SUBJECT
The SELLER shall supply the BUYER with Geophysical Equipment, parts, and services, and the BUYER shall
pay the SELLER for these items, as defined in this agreement.
2. CONTRACTING PARTIES
The equipment to be supplied are three birdwagen/HEMI 60 vibrators as specified in the attached Quotation
The prices are specified in the attached Quotation #7556. These prices are firm and are expressed in US
Dollar. The total value of this contract is Nine hundred forty seven thousand, nine hundred fifty-five US Dollars
The EQUIPMENT specified is to be delivered fob, Tulse, Oklahoma on the following dates:
Payment for the EQUIPMENT as specified above shall be effected as follows:
1. BUYER will make a Ninety thousand US Dollar ($90,000.00 USD) down payment within 15 days of
the execution of this contract.
2. BUYER will pay Two hundred eighty-five thousand, nine hundred eighty-five US Dollars
($285,985.00 USD) prior to shipment of HEMI 60 Serial # 595 from Tulsa, Oklahoma.
2. BUYER will pay Five hundred seventy-one thousand, nine hundred seventy US Dollars
($571,970.00 USD) prior to shipment of HEMI 60 Serial # 596 and 597 from Tulsa. Oklahoma.
The SELLER shall retain ownership in the equipment until payment in full has been made by the BUYER for each
vibrator. Upon final payment for each vibrator ownership and Title to each vibrator shall immediately pass to the
8. START-UP PROTOCOL
The SELLER will send a technician to assist the BUYER in the initial start-up of the equipment.
TGC INDUSTRIES, INC. (TIDELANDS)
1304 Summit Ave, Suite 2
Plano, TX 75074
INDUSTRIAL VEHICLES INTERNATIONAL, INC. (IVI)
6737 East 12th Street
Tulsa, OK 74112-5684
August 31 or earl