CONTRACT FOR DEED
THIS AGREEMENT Made and entered into this 19th day of June, 2001, by and between O. DALE LARSON
of Brookings, South Dakota, hereinafter described as Seller and SPORTS LINK, LTD., a South Dakota
corporation of Brookings, South Dakota, hereinafter described as Purchaser.
Legal Description and Terms of Sale
That if the Purchaser shall first make the payments and perform the covenants hereinafter mentioned on its part to
be made and performed, the said Seller hereby covenants and agrees to convey and assure to the Purchaser, in
fee simple, clear of all encumbrances whatsoever, by good and sufficient Warranty Deed, the real property
situated in the County of Brookings and State of South Dakota described as follows:
Lot Four (4), Block Five (5) of Gilkerson Addition to the City of Brookings, Brookings County, South Dakota,
and as consideration therefor, the said Purchaser shall covenant and agree to pay the said Seller the sum of TWO
MILLION ONE HUNDRED FIFTY THOUSAND AND ONE DOLLARS ($2,150,001). The terms of the
payment for this property are as follows:
The sum of $1.00 shall be due at the execution of this Contract, the receipt of which is hereby acknowledged.
The balance of $2,150,000 shall be payable, interest only at the rate of five percent (5%) with an interest accrual
date of July 1, 2001 with the first payment of monthly interest due August 1, 2001. Interest only payments shall
continue for a period of four (4) years until June 30, 2005 at which time the entire principal sum plus any accrued
interest shall be due and payable in full.
The possession date shall be July 1, 2001, entitling Purchaser to all rents, issues and profits thereafter, including
without limitation, the rights as Landlord to any outstanding lease agreements, which lease agreements, if any,
shall be assigned to the Purchaser as of the date of possession.
Real Estate Taxes
It is understood and agreed that the Seller shall pay the 2