Exhibit 10.7 Purchase Agreement dated January 31, 1996 between the Company and Glenn and Ruth Schultz.
INSTALLMENT AGREEMENT FOR THE SALE OF REAL ESTATE
Agent for Seller
This agreement, made this ______________ day of JANUARY A.D., 1996. Between GLENN A. SHULTZ &
RUTH G. SHULTZ (residing at 611 ENFIELD DRIVE LANCASTER, PA Zip 19601) hereinafter called
Seller, and MEDICAL TECHNOLOGY & INNOVATIONS, INC. (residing at 255 BUTLER AVENUE,
SUITE 101, LANCASTER, PENNSYLVANIA Zip 17601 ) hereinafter called Buyer.
That in consideration of the mutual covenants and agreements hereinafter contained, Seller agrees to sell and
Buyer agrees to purchase:
ALL THAT CERTAIN tract or parcel of land, together with the Improvements erected thereon, if any, known as
3125 NOLT ROAD in the TOWNSHIP of EAST HEMPFIELD, County of LANCASTER, State of
Pennsylvania, Zip 17601 and more fully described in Deed Book _______________, Volume _____, Page
1. CONSIDERATION /bullet/ The purchase price to be paid by Buyer shall be the sum of $260,000.00 to be
paid as follows:
A. $ 0 at the signing of this Agreement which shall be held in escrow by the listing agent until settlement or
termination of this Agreement in conformity with all applicable laws and regulations.
B. $26,000.00 at settlement.
C. The $234,000.00 balance with interest on the unpaid balance at the rate of 8.5% per annum shall be paid in
consecutive monthly installments, which shall be applied first to payment of interest and the remainder to
reduction of principal, in the amount of $1,657.50 per month beginning on MARCH 1, 1996 and continuing on
the 1ST day of each month until paid in accordance with an appropriate amortization schedule the receipt of
which both the Buyer and the Seller hereby acknowledge. However, the Buyer agrees to pay the entire unpaid
balance at any time on or before FEBRUARY 1, 1999, with no accrued interest, the Buyer shall be entitled to
receive title to the property in accordance with the terms in Paragraph