The URL can be used to link to this page

611-Conveyor SystemsI ~-96 # STENSTt~OM, MCINTOSH. COLBERT, WHIGHAM & SIMMONS. P.A. ATTORNEYS AND COUNSELLORS AT LAW CA~H~.,.~ D..~,SCHM~,~. RECEIVEDv May 9, 1996 MAY 0 9 CITY OF SANTO Bill Simmo~, City Manager C~TY OE SANEO~D 300 N. P~ Avenue S~nfo~d, FL 32771 Re: Economic Developmere ~ncemive Program De~ Mr. Siremorn: ~su~t m you~ request, we h~ve ~eviewed ~he p~opos~ Agreemere wi~ Conveyo~ Systems, Inc. ~e Ag~ment is in a leg~iy a~pmb]e format ~nd once i~ is signed by ~e pmpe~ p~ties will be enforceabie in acco~d~ce wiffi its tarms. ~f you should have ~y questions, o~ if we m~y be of furffier ~sismnce, piece advise. Since~eiy, STENST~OM, Mc[NTOS~, COLBEBT, /]w City of Sanford Economic Development Ineen~ive Ppo~pllltl Applieation -4OWNER APPLICANT STATUg- (A) Name, Address & Telephone Contact p~. 1. Business Owner(s) Name: Stanley L. Newton Tele # (407)323-4436 (/,07)330-1746 Street & No.: 1100 Corneli Drive City: Sanford. FL Zip: 32771 Name: Lee D. Harrington Tele # (407) 323-4436 (407) 668-6181 Street & No.: 41 Sanford Avenue City: DeBary, FT, Zip:~13 2. Equity Holder(s) Name: SAME AS ABOVE Tele # ( ) ( ) Street & No.: City: Zip: Name: Tele # ( ) ( ) Street & No.: City: Zip: 3. Major Participant(sl Name:_ W~ttlam c Butt Tele # (407) 323-4436 (407) 668-22h0 Street & No.: 292 Adelaide Street Ci~: D~B~ry, ~L_ Zip: 32713 RPlease provide resumes for each above listed person) See exhibits la - ld (B) Type of Entity: 1. Sole Proprietor: [3 2. Corporation: 1~t Type:~S 3. Partnership: D Type: 4. Other: C3 Describe: ~elease provide proof of business type ie, incorporation papers, contraas, other. See exhibit 2 Please provide a business plan, which covers the next five years, this plan should include a current profit and loss statement (most recent tax year), and a current debt statement that list all debt, associated collataral, terms, rate, originator, originslion dates etc... I With the purchase of the new building, our current sales of $6,000,000 annually are expected to incresase to $12,000,000 within 5 years. Current Financials - Exhibit 3 Debt Statement - Exhibit 4 Business Plan - Exhibit 5 ISECTION II -4ACTIVITY LOCATION AND DESCRIPTION(.- (A) Activity site 1. Provide the legal description and physical address for any site involved in the proposed commercial/industrial activity. 75,000 square £oot building located at 2801 West Airport Blvd. Sanford, Florida 32771 (B) Activity Description 1. Provide a detailed description of the type of all existing commercial/industrial activity and/or type of all proposed commercial/industrial activity. Conveyor Systems, Inc. is currently a manufacturer of custom conveying equipment, primarily for the food and beveraRe industry. It is our intention to continue and expand these operat%ons. In concurrence with this, we intend to expand into other markets previously not considered by CSI because of manufacturing space constraints. tSECTION III -~EMPLOYMENT ~' (A) Provide the following information Proposed Employees Gross Gross Annual Position number of Annual Salary Annual Salary Fringe Titles positions w/o Fringes with Fringes Expense Hgrat/Admin 3 $70,000 $80,000 $10,000 Professional 1 35,000 40,000 5,000 Technical 55 18,000 21,000 3. Sales 1 51,500 60. 000 8, SOD l C) I'AI. .,i(., please attach detailed job descriptions for each of the position titles listed above. I Existing Employees: Current number of employees: 74 Total Annual Gross Salary expense w/o fringes $1.895,154.00, with fringes Number of Position titles Positions Mgmt/Admin 11 Professional 0 Technical 60 Sales TOTAL 74 ~FINANCIAL REQUEST WrTH DETA~ED SOURCE AND USE STATEMENT~- ~Section IV (A) 1. If available please provide a business credit report. 2. Please provide three banking/business reference letters. Exhibits 6, 7, & 8. 3. List all non-cash assets, with values, that are owned or controlled by the applicant entity: See exhibit 9 4. Provide a detailed narrative which explains your total expansion/relocation project. This narrative should include all project related expenses, with a proposed fiscal source match. In support of your narrative, letters and/or proof of financial commitments will be required for financial sources other than City. of Sanford incentive participation. Conveyor Systems is currently located in a 19,000 square foot building in DeBary, Florida. Although the firm is currently working two (2) shifts, further sales escalation is impossible without additional space. The City of Sanford incentive funds would contribute towards the estimated $100,000.00 cost of moving and remodelling expenses. Funding for the purchase of the building will be provided by the SBA and Barnett Bank. See exhibits 7 & 8. RESUME OF WILLIAM C. BUTT WORK EXPERIENCE: BABCOCK & WILCOX COMPANY (MAY 1967 - AUGUST 1976) Contract Engineering Unit Manager Responsible for design of fluid systems, preparation of specifications for tanks, heat exchangers, valves, filters, etc. for use in auxiliary systems of nuclear power plants. Evaluated domestic and foreign suppliers for equipment supply. SIMPLIMATIC ENGINEERING COMPANY Vice President (August 1976- November 1979) Responsible for engineering and manufacture of complete product line of conveying, palletizing and packaging systems. Executive Vice President November 1979 - August 1988) Responsible for engineering, manufacture, purchasing, personnel for plants in Virginia, Florida, California and Mexico. Vice President ~ General Manager August 1988~ November 1989) Genera/Manager for company's Florida Division which manufactured palletizing systems. CONSOLIDATED EQUIPMENT ERECTORS, INC. Vice President Operations (January 1990 - July 1995) Responsible for job estimating, proposals, project management, field crews and logistics for field equipment. CONVEYORS SYSTEMS, INC Vice President General Manager (July 1995 - Present) Responsible for all phases of operations including sales and P&L. GERALD F. DAUS 2349 Otis Avenue Deltona, Florida 32738-3122 904-532-5980 SUMMARY OF ACHIEVEMENTS Member of four person management committee of manufacturing firm. Completely revamped manual accounting system ofconveyor manufacturer and implemented the Great Plains comprehensive modular accounting package on a network of personal computers. Modules included general ledger, accounts receivable, accounts payable, purchase order, job cost, payroll, and inventory. Designed and installed complete computerized statistic and accounting system for bus company. Installed complete computerized accounting system for electronics manufacturer, including design of all forms, reports, and procedures. Designed and implemented computerized inventory control system for electronics manufacturer, reducing inventory costs 15%. Installed computer time clock system, resulting in 50% savings in payroll processing time. Supervised the acquisition of two subsidiary companies. Structured the administration and accounting systems of two newly organized Designed and monitored an accounting system that integrated seven related corporations. Reduced Workmen's Compensation insurance costs by 14% by recalculation of experience modification and careful monitoing of monthly losses. EXPERIENCE Treasurer/Controller Conveyor Systems, Inc., 203 Benson Junction Road, DeBary, Florida 32713 February 1993 - Present ~ ChiefFinancial Officer for manufacturing firm grossing in excess of$5,000,000. ~ Participated in all major strategic and operational planning as well as fiscal planning, budgeting, and capital expansion. ~,- Headed all internal accounting and statistical functions as well as outsourced operations. Controller American Radionic Co., Inc., Palm Coast, Florida May 1988 ~ March 1992 > Responsible for all data processing, accounting, and financial functions of $9,000,000 electronics manufacturing tinn. > Directed the planning, budgeting, accounting, and sales functions using an integrated system of personal computers and an IBM System 36. ~- Implemented modern communications for transmission of payroll, purchase orders, and invoices. > Originated a comprehensive system of product costing. Treasurer/Controller Mountain View Coach Lines, Inc., Coxsackie, New York May 1979 - April 1988 ~- Planned and administered the acquisition of two subsidiary bus companies. ~- Originated and developed the financial and organizational structure of two communications firrns. ~- Designed, installed, and monitored complete accounting system for seven related companies with total annual sales of over $25,000,000, and maintained separate, as well as consolidated, financial statements and records. :~ Developed computerized charter booking system and airport limousine reservation package, reducing booking time by 24%. ~- Simplified and revised a comprehensive mileage, passenger, and fuel consumption record keeping system. ~- Prepared all state and federal required DOT and ICC reports. Accountant UBC Leasing of New York, Inc., Albany, New York December 1978 - May 1979 > Reorganized accounts receivable system. ~- Initiated computerized lease reporting program. EDUCATION Master of Business Administration Russell Sage College, December 1985; Major--Finance Bachelor of Business Administration Siena College, December 1978; Major-~Accounting Clifton E. Decker, Jr. Certified Public Accountant Certified Financial Planner EDUCATION: Bachelor of Arts Eastern Connecticut State College Associate of Applied Science - Accountin~ Manchester Community College Other: Coursework in graduate auditing, financial planning, and computer science at the University of Nebraska at Omaha and the College of Financial Planning tutorial AFFILIATIONS: American Institute of CPAs Central Florida Society of CFPs Florida Institute of CPAs Institute of Certified Financial Planners POSITION: Management Consultant, Conveyor Systems Inc CPA Practice (part-time), Orange City EXPERIENCE: Acquisitions and Sales of Businesses Auditing Contract Negotiations (internal & external) Cost Analysis Financial Reporting Internal Control Investment Tracking litigation support (acquisition expert testimony) Retirement & Estate Planning Tax Preparation Transition Planning Trouble Shooting PERSONAL: Married Two grown children Residence in Deltona, Florida SHAREHOLDERS' INCOME STATEMENT For tl~e Year-to-date thru-- September, 1995 % 5ales Net sales $4,473,546.37 100.0% Less: Cost of goods sold ~.,975,165.31 66.5% (See sched~e 6, page 16) Gross profit on sales ~.ess: Commercial expenses M~keting expenses Administration expenses ~See schedule 7, page 17) 618,~-64.88 Net income f~om operations 880, 116.18 19.7 % Other income &expense items (2,371.55) Interest expense 29,519.87 Net income befo~:e payments to owners 852,967.86 19.1 Payments to, or on behalf of, owners 389,493.48 8.7% (See Schedule 8, page 11) NET INCOME $463,474.38 10.4% ] ]A~f 08:I I S6/I I/0I 8Z ~6~d t<MA~'J~F~IO=IS=I ~'Z'~S8'S85 ~ po!r~d ~tI1 ;o pug ~ql le qs~D (0Z'I68'gZ) (~0'~I9'8E) po~ed ~qUo 6u~16oq eql ~ qs~9 ~6'9~L'I I I 6L'69F~I sluelR~!nbo ~s~D pub ~sBo u (96'ZZZ'eSZ) (6~'~89'6Z I) s~D~Dm~ BuDu~ug Xq pep~o~d qseo 00'0 00'0 ~ools ~see~ to uoD!s!~e~ (00'0Z6' I0Z) (88'8~9'~ I) (1~ (ae'Z08'I8) (I9'968'~) (le~ lq~P m~el-BuoIto sPe~oo~d (IS'Z6S'Z8) (98'09I'8) ...................... ZS'8~6'~Z IZ'09~'69I sm~lsn[p~ 00'~Z~'6I$ 00'0~ sm~lsn[p~ pound xol~d (00'Z6I'~9) 00'0 s~l ~ooul p~l~p 08'060'66I (8~'90~'0I) s~l;l~qRlI sno~uRtt~osl~ (Z0 '~81 ) 00'0 ~Iq~ed (99' I Z) ~Z'~Z ~IqRlRd suolssl~oo (00'6~Z'~6) 00'tD'It (0Z'9~0'9ZI) (I I '~99'0I) ~lqRlRd stunoDoR (00'00Z) 00'0 sl~ssR ~qlo ~ 80' ~ I' I ~ I 8~' 610'8~ ~olu~A~ 8 I' 16~'01 6Z' I 0 I' 6 s~su~dx~ plRd~zd u~ ~SuRq~ (Z6'ZlS'0I I) ~9'900'ZI I ~Iq~Al~o~z Z9' Z9Z '06 86' ZZZ'01 :s~D~Do~ BuDRx~do ~q p~p~o~d s~D~DDR 5uDR~do ~o~ s~og qs~o ~IRG-o~-~A ~q~ld~S )qeO bu~!xa OL Conveyor Systems Inc. Assumptions Used For Projections ASSUMPTIONS: Sales increases are based on discussions Bill Butt has had with several manufacturer's rep firms. Any one of those firms can produce the increases shown here since the new facility will allow us the room required to properly build the larger conveyor lines. Material and labor costs have been projected based on current percentages. However, while we used those percentages in the interest of conservatism, we actually expect the percentage of labor costs to drop since we will have the space to hire more people and eliminate or greatly reduce overtime. The cost of overtime for the first seven months of 1995 (direct labor without engineering) was in excess of $605,000. All other expenses were estimated based on individual expenditure analysis. The building will be purchased by the shareholders through a limited partnership with a long term lease with the Company and "rent" charges equal to the total mortgage payments. The building will be purchased by 11/1/95 The cost will be $2,550,000 with 10% down (from Lee Harrington) and bank (SBA ?) financing for the remainder over fifteen years at 8.75%. The loan from Lee Harrington to the limited partnership will be paid back over 5 years at 8%. At the end of the five years the bank loan payments will be increased to pay the bank loan off within ten years. %00'001 bS~°gg0°£ %00'00L bS6'ZgB'Z %00'001 LS~'Z[0'Z %00'001 2~'gEg'1%00'00~ Z~2'055'1%00'001E£~'SES°L ~!nb3 pue sa!~!l!qe!l le~ol ~_E'O~ ~Zg'~'1%ZZ'Z£ ~Z~'ZgO'L %9E'9£ gZO'6.~ZZ %£~'Z£ ~Z~'ZZ~ %gZ'ZI 6Zg'~ZZ %~Z'ZL ~O~'Zgl ~!nb3 le~ol %9~'0~ LZL'~'L %OL'Z~ lZ6'[90'L %6L'9£ LZ~'5,~Z %~0'~ L~6'~g~ %~'ZI 5ZO'~ZZ %96'll Ogg"[gl sBu~uJea peu!e~e~ %50'0 ~g'L %~0'0 ~'~ %gO'O ~5'L %60'0 ~5'L %OL'O ~'L %QL'O ~g'l le~!deo u! p!ed leuo!~!ppV ~0'0 000'Z ~0'0 000'~ %05'0 000'~ %Zl'0 0O0'~ %[l'0 000'~ %£l'O O00'Z ~oo~s UOLLtUO3 %9L'0 000°5 %5~'Z 00O'~ZZ %96'~ 000'00L %00'gL 00~'96l %~9'0Z ~99'~gE %~Z'9Z 0ZE°~0~ sa!l~l!qe!q mJal 6uo~ lelol %6~*L 00~'~g %00'~ g00'Z9 %~6'~ ~9'ZEL sjaploqaJeqs moJ~ sueo~ %Zt'Z- 000'0gZ- %~9'Z- 000'~Z- %~5'E' 000'~Z~ %0~'~- 000'gZ- %19'~- 9~'lZ- %~6'g- Z~0'~- uo~lJod ~uaJJno ssa] %~L'Z Z6t'~E %Zg'L 00Z'gZ saxe~ aluoou! paJJa}ad %9~'6~ 9ZZ'Z~5'1%E6'~ 9Z~°~ZS'L %ZZ'~ 9ZE'E6L'L %ZZ'55 Z~5'ZL6 %0~'L~ ~;6'L56 %Z~'19 6~E'~6 sa!~!l!qe!] luajjn3 le~ol ~L'Z 000'0gg %59'Z 000'5gZ %~5'E 000'ZZ %0~'~ 000'ZZ %19'~ 99~'LZ %E6'g Z~0'~ lqap mJa~ 8uo1 uo!~jod luajJn3 %~l'L 000'SE %~Z'l 000'~£ %ZZ'L 000'5£ %ZE'0 9ZZ'6 ~E'0 9Z~'0L %9~'0 9Z£'ll %~9'0 Z55'0L %£5% ZIZ'EZ %~9'L 9Z0'gZ alqeAed saxe~ I!ojXea ~E'Z ~L~'~£ %09'5 0Z6'59 uo!lesuadmo3 pajjGjaO %55'6L 000'009 %91'61 000'055 %gg'£g 000°09~ %00'gZ 000'09£ %~g'gL ZlZ'ZgZ %ZZ'Eg gL~#9~£ saoueApe Jamo;sn3 %L~'LI 000'0~E %0Z'ZL 000'05E %L~'~l 000'~SZ %L9'LL 000'06L au!l l!paJ3 %0L'0 000'E ~l'0 000'~ %L0'0 ~gL %~Z'0 ZZ£'LL ~seJalu! panJo3V %9Z'6 000'00£ %~6'El 000'00~ %gZ'~L 000°00£ %~Z'51 000'0~Z %Zg'~£ 6E6'£9~ %£0'~g 9Z6'99£ alqeXed slunoooV %00'001 15~'~90'£ %00'00L L56'Zge'Z %00'00~ L~'~£0'g %00'00L Z£~'gEg'L %00'00~ ZZZ'055'L %00'00L ££L'5£5'L slassV le~ol %9~'0 005'~ %9Z°0 000'9 ~E'0 005°Z %E~'0 000°Z %~6'~ 0E0'0E %0£'0 5£9'~ slassV Jaql0 lelol %~9*t 98~'~Z sJap!oqaJeqs oh sueo] %Z0°0 000'Z %ZO'0 000'Z %0L'0 000'Z %ZL'0 000'Z %60'0 ~5£'L %60'0 9~£'L sl!sodaO, %LZ'0 00~'9 %L~'0 000'9 %Zg'0 005'~ %l£'0 000'5 %lZ'0 ~gl'£ %LZ'0 ZZZ'£ aoueJnsu! a~!l JapuajJns qse3 %ZE'0 l~6'6 %~'0 L~6'6 %6~'0 L~6'6 %19'0 l~6'6 %~9'0 L56'6 se13!qeA %Lg'~ 000'09L %95'5 000'09~ %gE'Z 000'05L %gZ'Z %ZZ'9~ 000'5~Z'~ %6Z'55 000'009'l %gB'L~ 000'0~9 %~0'Z~ 000'0ZZ %£6'Z~ Zg0'E~Z %~0'~ ZL0'gZ9 luaud!nba 8u!JnloeJnueH %85'0 19~'6 %L9'0 t9~'6 %~'0 ~'£L s~uamaAojdm! ploqaseG] %59'~9 000'066'L %L~'Z9 000'06Z'1%£~'9Z 000'06~'L %6g~~Z 000'£~'1%09'Z9 5~L'6~0'L %~0'0Z ZZZ°~Z0'L slassV ~uaJJn3 lelol %£9'l 000'0~ %~Z'L 000'0~ %9~'Z 000°05 %90'£ 000'0~ %LE'I Z6Z°0g %~6'~ £~£'5~ sasuadxa p!edaJd %~0'£L 000°00~ %0Z'Zl 000'05~ %9Z'~l 000'00£ %~'ZL 000'00g %~'~l 9~0'99Z %£g'~g 0Z~'~ ~JO~UaAU! %£['0 000'0~ %~E'0 000'0t %6~'0 000'0L %l~'l 000'Eg %60'0 5~'l %ZE'g 9l~'9£ salqeA!aoaJ Jaql0 96/0£/6 Z6/0£/6 96/0E/6 ~6/0£/6 ~6/0E/6 £6/0£/6 ~-, pa~oa~oJd pa~oa~oJd pa~oa~oJd pa~oaroJd len~oV len~oV ·s;~aqS aouele8 paloa~oJd %~6'~ O0~'gZ~ %99'~ O0~'g~£ %6~'0~ O09'~L~ %9~'Z6 9~g'L~ %66'Z~ 52~'gg %L~'~5 ~g'£9 e~oou! ~N %00'00~ ~6~90'L %00'00L [Z~'~J_ %O0'OOL [Z6'~£ %00'OO& gZO'ZZ~ %00'OOL O~g'~gL %00'00~ 966'6~ ~u!uu!6e8 '~ou~le8 g6/0~/6 Z6/0~/6 96/0~/6 ~6/0~/6 ~6/0~/6 £6/0£/6 XT~J pa~oa[o~ peloa[o~d paloe[oJd pa~oa[ojd lenloV len~oV ~ sEu!uJe3 peu!ela~ ul ~ se8ue~3 paloa[oJd ~ -pueq u! sales sq~uo~ aaj~ snld ]en~3e sq~uom ~u!u ue paseq s~ sales ~66l ~o uQ~aa[oJd aq~ Conveyor Systems Inc. Actual Actual projected Projected projected Projected Projected Cash Flows 9/30/93 9/30/94 9/30/95 9/30/96 9/30/97 9/30/98 CASH FLOWS FROM OPERATING ACTIVITIES: Net Income 63,854 88,224 251,846 211,600 328,400 478,200 Adjustments to cash: Depreciation 71,545 101,088 111,487 105,000 1251000 125,000 Loss on disposal of assets 423 4,477 9,481 Change in accounts receivable -2,540 -229,546 -137,084 -300,000 -150,000 -150,000 Change in other receivables -32,652 34,971 -21,555 13,000 Change in inventory -401,438 156,474 86,046 -100,000 -50,000 -50,000 Change in prepaid expenses -33,518 25,061 -29,708 Change in deposits 8,719 -642 Change in accounts payable 246,025 115,013 -233,939 50,000 100,000 -100,000 Change in accrued interest -295 -11,143 -184 5,000 -2,000 Change in cash surrender insurance 10,094 93 -1,816 -500 -500 -500 Change )n credit line 190,000 105,000 55,000 Change m customer advances 356,512 -73,800 77,288 120,000 70,000 50,000 Change in deferred compensation 27,369 -49,156 -36,814 Change ~n payroll tax payable 26,371 -4,359 -13,160 819 -900 -700 Change in wages payable -251,499 4,581 -23,082 5,000 Change in deferred income taxes -91,897 4,497 -33,197 NET CASH FROM (TO) OPERATING ACTIVITIES '2,927 166,475 185,486 219,400 482,000 350,000 CASH FLOWS TO INVESTING ACTIVITIES: purchase of manufacturing equil~ent -426,566 -92,714 -26,953 -80,000 -750,000 -125,000 Purchase of office equipment -19,073 -59,914 -23,000 -10,000 Purchase of vehicle -9,951 NET CASH USED IN INVESTING ACTIVITIES -426,566 '121,738 '86,867 '103,000 '760,000 -125,000 CASH FLOWS FROM FINANCING ACTIVITIES: Change in loans to/from shareholders 89,884 -100,980 -12,114 -24,400 principal borrowed for equipment 284,378 376,521 350,000 Equipment notes paid -52,729 -359,445 -54,951 -72,000 -72,000 -225,000 NET CASH FROM (TO) FINANCING ACTIVITIES 321,533 -83,904 -67,065 -96,400 278,000 -225,000 NET INCREASE (DECLINE) IN~CASH IN BANKS -107,960 -39,167 31,554 20,000 0 0 Beginning Cash in banks 125,573 17,613 -21,554 10,000 30,000 30,000 Ending Cash in banks 17,613 -21,554 10,000 30,000 30,000 30,000 _ CONVEYOR SYSTEMS TM 203 BENSON JUNCTION ROAD DEBaRY, FLORIDa 32713 (407) 668-4456 FAX: (407) 668-2735 Credit Information Bank information Trade references Barnett Bank of Central Florida, N.A. American Industrial Plastic, Inc. Arm: Catherine L. Sterba, Vice President 724 Fentress Boulevard 390 North Orange Avenue, Suite 700-CB Daytona Beach, Florida 32114 Post Office Box 3200 904-274-5335 Orlando, Florida 32802-3200 407-420-2733 Dwyer Instruments, Inc. A/C #2832528058 P.O. Box 373 Routing number 063-103-193 Indiana 212 at US. 12 Michigan City, Indiana 46360-0373 ID numbers 219-879-8868 Federal ID number 59-2460213 H-P Products, Inc. Incorporated 10/1/84 512 W. Gotgas Street Sales tax number 74-18-047692-72 Louisville, Ohio 44641-0912 Reg. date 4/30/86 216-875-5556 Officers Merit Fasteners, Inc. Stanley L. Newton, President/Treasurer 2510 N. Country Road 427 1100 Cornell Drive Longwood, Florida 32750-3599 S anford, Florida 32771 407-331-4815 407-330-1246 Smith Metals, Inc. Lee D. Harrington, Vice President/Secretary 10551 471h Street North 41 Sanford Avenue Clearwater, Florida 34622 DeB ary, Florida 32713 813 -573 -4410 407-668-6181 10-19-1995 04:08PM FROM FLORIDA BUS DEU CORP TO 14076682735 By:Florida BusineSs ~eveloDment By:Conveyor Corporation e~Ol ~e WQ~ RQa~. Sult~ 209 2001 W. Ah~a~ ~e Wor~, Flo~ 33407 Sanf~. [~orid~ 32773 S~ley L. Newton, President At~eit;. ._ (L.S.) Attest: (L.S.) (Secretaz~) Lee D. ~t'~ingtan By: C.S.I. Propstries, a [lorida Genezal Par~-ne. rship Stanley ~-. ~ewton General Partner 10 1E}-I 9-1995 tB3: 3'aoM 904 443198~ P. 11 Barnett Bank of Central Florida, N.A. 390 N. Orange Avenue Suite 700-CB Post Office Box 3200 Catherine L. Sterba Orlando, Ftorida 32802-3200 Vice President (407)420-2733 Fax (407)420-2886 September 19, 1995 Jerry Daus Conveyor Systems, Inc. 203 Benson Junction Road DeBary, FL 32713 Dear Jerry: I am pleased to advise you that Barnett Bank of Central Florida, N.A. has approved your.... request for a $1,295,000 secured term loan, based upon information you have submitted. Any obligation to lend will arise only upon the satisfactory preparation, execution and delivery of documentation in form and substance satisfactory to the Bank, including, but not limited to, the terms set forth below. Borrower: Conveyor Systems, Inc. THIS COMMITMENT IS NOT ASSIGNABLE. Amount: Maximum of $1,295,000 Purpose: Finance purchase of office/warehouse under SBA 504 program. Repayment: Monthly payments of principal and interest based on a 20 year amortization, remaining principal balance plus accrued interest, if any, due at maturity of loan. Maturity Date: Ten (10) years from date of funding, but no later than 12/15/05. Rate: Barnett Banks, Inc. Prime Rate + 3/4%, adjusted the date of any change in the Prime Rate. Said interest rate shall not exceed the maximum rate allowable by applicable law. The Prime Rate is a reference rate for the information and use of the Bank in establishing the actual rate to be charged to its borrowers. The Prime Rate is not necessarily the rate of interest charged any particular class of borrower. Interest shall be calculated on the basis of a 360 day year for actual days elapsed. Fee: 1% ($12,950) payable at closing. Conveyor Systems, Inc. Septem her 19, 1995 Page 2 Collateral: Valid first mortgage lien on property and improvements at 2801 Airport Blvd., Sanford, FL. (See legal description on schedule A) Guarantors: Conveyor Systems, inc., Newton and Harrington, Inc., Mr. and Mrs. Harrington and Mr. and Mrs. Newton shall jointly and severally guarantee full payment and performance of the loan and loan documents. Title Insurance: The Bank will require a mortgage title insurance policy issued by a title insurance company acceptable to the Bank in the amount of the loan containing only such exceptions as approved by the Bank and containing such endorsements as the Bank may require. Closing Conditions: Prior to closing the loan, the Bank shall receive at the Borrower's expense such items and documents as the Bank or its counsel may deem necessary and* appropriate in order to show feasibility of repayment of the loan and/or provide security for the loan. Closing Date: The loan shall be closed and all conditions to the first disbursement thereunder shall be satisfied, on a date and time mutually satisfactory to the Bank and the Borrower, but not later than (45) days from the above date of the commitment, or the Bank shall have no further obligation. Termination: This commitment may be terminated at Bank's option by written notice to Borrower at address set forth above upon the occurrence of any of the events listed in Exhibit C. Representation of Borrower and Guarantors: This commitment is subject to the accuracy of al~ information, representations and materials submitted with or in support of the application for the loan. In the event of inaccuracy or material changes in the information, representations and materials required hereby, that event shall, at the option of the Bank, operate to terminate this commitment and all of the Bank's obligations hereunder. Post-Closing Documents: After the closing of the loan, the Borrower and Guarantors agree to execute any documents that may be requested by the Bank, provided such documents do not alter the substantive terms of the loan as evidenced by this letter and the loan documents executed on or before the closing of the loan. Indemnification: Borrower and Guarantors indemnify Bank against nil loss, claims and expenses incurred by Bank arising from or relating to the Borrower's proposed or actual use of proceeds of this loan, any commitment of Bank to loan or any matter relating to the documentation of this loan, including but not limited to, reasonable legal fees and settlement costs. Conveyor Systems, Inc. September 19, 1995 Page 3 Costs and Expenses: Borrower and Guarantors agree to pay all the Bank's out-of-pocket costs related to this transaction whether or not the loan documents are ever executed and whether or not any disbursements are made under the loan. Such costs include, but are not limited to, fees and costs of the Bank's attorneys. Other Conditions: 1) Receipt of annual CPA reviewed financial statement of Conveyor Systems, Inc. within 120 days of fiscal year end. Receipt of tax return immediately after filing. 2) Receipt of personal financial statement of the individual guarantors within 120 days of borrower's fiscal year end. Receipt of personal tax returns immediately after filing. 3) Receipt of annual financial statements of borrower not more than 120 days from fiscal year end. Receipt of tax return immediately after filing. 4) Receipt of annual tax returns of Newton and Harrington, Inc. immediately after filing. 5) Barnett Bank to remain main bank of account. 6) No change in ownership without prior bank approval. 7) Subject to receipt of approval of an SBA 504 second mortgage of $1 MM. 8) Debt service coverage to be tested based on annual CPA reviewed financial statement of Conveyor Systems, Inc. and the annual CPA prepared financial statements of Borrower to be no less than 1.15x. Debt service coverage to be defined as the combined (Borrower & Tenant) Net income + Non-Cash + Interest CMLTD + Interest 9. Borrower and any guarantor shall agree to waiver of trial by jury. The description of the foregoing credit facility is meant to provide a general outline of the terms and conditions thereof and is subject to the execution and delivery by the Borrower and Guarantors of all promissory notes, agreements and other loan and security documentation containing such additional terms and conditions as are required or deemed advisable by Bank and/or its counsel. Conveyor Systems, Inc. ~-~ ,4 ,&, ¢' ~ September 19, 1995 Page 4 if this commitment and all of the terms and conditions meet with your approval, please indicate your acceptance by signing below and returning the original of this letter to me on or before October 1, 1995. If we do not receive the executed original on or before that date, this commitment will be null and void. We appreciate the opportunity to present this commitment to Conveyor Systems Properties. Please call me if you have any questions. Sincerely, Catherine L. Sterba Vice President Corporate Banking Accepted this a,-i¢' day of ,%/(/~,j,2, 1995. "- Borrower: C.S.I. PROPERTIES Title: Guarantors: Conveyor Systems, Inc. Newton and Harrington, Inc. EXHIBIT "A" Description of Project: The East 1/2 of Block "65", M.M. Smith's Subdivision, as recorded in Plat Book 1, Page 55 of the Public Records of Seminole County, Florida, less the East 10 feet for right-of-way of Airport Boulevard. and The West 1/2 Block "65", M.M. Smith's Subdivision, as recorded in Plat Book 1, Page 55 of the Public Records of Seminole County, Florida, less the North 135 feet of the West 135 feet thereof. EXHIBIT "b" The following items will be required by Barnett or its counsel pdor to the closing of your loan. These items need to be supplied to Barnett or its counsel (as specified below) as soon as possible in order to insure a prompt scheduling for your closing. A. ITEMS TO BE SUPPLIED TO YOUR LOAN OFFICER 1. Certified copy of purchase contract. 2. Survey, less than 60 days old, certified to Borrower, Bamett Bank of Central Flodda, N.A. and title company. 3. Evidence of Insurance by an insurer with a Best Rating of no less than A for: a. Public Liability with Barnett Bank of Central Florida, N.A. shown as Certificate Holder b. Flood (if applicable) c. Property and Casualty with Bamett Bank of Central Florida, N.A. shown as mortgagee. .- 4. Evidence that Land does not lie within any flood plane or hazard area designated pursuant to Flood Disaster Protection Act of 1973. B. ITEMS TO BE SUPPLIED TO, OR PREPARED BY, BANK ATTORNEY 1. Partnership affidavit of Borrower. 2. Executed copy of Partnership Agreement for Borrower. 3. Certificate of good standing issued by the Secretary of State or other appropriate official of the State of Rodda and state of domesticity for: a. Borrower b. Guarantors 4. Certified Resolutions of the Board of Directors (with Incumbency Certificate) of: a. Borrower b, Guarantors 5. UCC search of: a. Borrower b. Guarantors 6. No Liens and Possesscry Affidavit 7. Evidence of paid ad valorem taxes We suggest that you consult with your counsel conceming these items as they are customary items in a real estate transaction, but are sometimes not readily available to a borrower as they are to his attorney. EXHIBIT "C" CONDITIONS UNDER WHICH BANK CAN TERMINATE COMMITMENT A. Borrower's or any guarantor's assignment for the benefit of its creditors, admissions in writing of its inability to pay its debts as they become due, the filing of a petition of bankruptcy or being adjudicated as bankrupt or insolvent, or filing of a petition seeking any reorganization, arrangement, composition, readjustment, liquidation, dissolution, receivership or similar relief under any present or future statute, law or regulations. The foregoing shall also apply to any general partner of Borrower or of any guarantor. B. Any change of the financial condition of Borrower or any Guarantor, subsequent to the above date of this commitment which is, in the sole discretion of Barnett, material and adverse. C. If any statement or representation made by Borrower in this Commitment or in support of the Loan shall prove untrue. '- D. Default by Borrower in the performance of any other covenant, condition or agreement set forth in this Commitment. E. Default by Borrower or any guarantor under any other Loan or extension of credit by Barnett to Borrower or any guarantor. Any termination of this Commitment shall not affect Barnett Bank's rights to enforce the costs and expenses which rights shall survive any such termination. DEPR1995.'WK4 Page1 11~6~509:35AM DEPRECIATION - 1995 LEASEHOLD IHPROVEHENTS 12/08/95 16:46 ~'4073212737 CONVEYOR SYSTEHS [~001 CONVEYOR $YSTEMS,_INC: December g, 1995 Charles A. Rowe, Director of Communi~ Development Ci~ of Sanford P. O, Box 1788 Sanford, Florida 32772-1788 RE: Economic Development lncenlive Program Dear Mr. Rowe: '1o expand on our narrative of our e~cpansionJrelocation project as detailed in Section IV, Item 4 of our application, pleause review the following; Conveyer Systems, Inc. has been in business for eleven years and is a manuthcmrer of state-of-the-an conveying systems for the food and beverage indusWy. Currently, our major product lines deal vdth the conveying o17 empty beverage cans throughout the fabrication process in can manufacturing plants, In order to expand this and associated product lines, it is neoessary that we move to a larger plant. The company presently employs ahem 75 people in the DeBar/facility and plans to expand that number to more than 100 within a year of moving to a larger factory. Projections indicate that the total numbe~ of employees could grow to 150 to 200 in five years. The indusu-y is currently enjoying a tremendous growth period. particularly in world-v,4de markets. CSrs major m~stomcrs ~xe giants such as Anheus~r Busch, Crown Cork & Seal, and Ball Container Corp. These Blue Chip corporations are heavily involved in overseas operations and the expansion potential these markets provide. Some of Cars recent shipments have been to such divexse locations as Turkey, South Africa, China, Europe, and Viet Nam. We are asking the city for economic assistance that will enable us to relocate to Sanford. We are currently looking at several properties in both Seminole and Volusia counties. Wc need a onc4ime economic incentive package of $100,000 that would help with the moving and start-up costs era new factory. We s~ this assistance as a m-fold benefit; the company would be more easily able m relocate and the county would benefit from 100 new jobs, additional property taxes, and services that would be required from local vendors. The funds would be disbur.~ed a~ part of the cost of the following item: 2601 WEST AIRI;}ORT 8LVD, - SANFORD, FLORIDA 32771 USA ~ TELEPNONE: (407}323-4,436 - lAX (407)32F2737 ConveytncJ Yon TO Excellence 12/08/95 16:47 ~'4073212737 CONVEYOR SYSTE]S ~002 AutoCadd software - 9 copies ~ $3,000 - $ 27,000.00 Synthesis engLneering software - 5,500.00 Time Management system (Hardware & software) - 12,000.00 Dell pentinto compulers (2 (~ $2,100) - 4,200.00 Management cousultant (Labor) - 6,500.00 Computix &telephone cabliug - 20,000.00 Moving expenses - 9,000,00 Fumitt~e - 7,500.00 Stock room fence - 2,854,00 Novell upSfade - 3,000.00 New file server - 4,000,00 Welding tamits (3 @ $1,500) - 4,500.00 Additional printers, plotters, & software - $111,054.00 In addition, we have major capital purchases planned that will exceed $1,000,000.00 in cost. These will occur over the next several years. I hope that this provides you with the necessary details to complete o~ application. Please feel f~ee to call if you ned anything fnxlher. Thank you very much Very truly yours, CONVEYOR SYSTEMS, INC. Gerald F. Daus Treasurer/Controller CONVEYOR SYSTEMS, INC./CITY OF SANFORD ECONOMIC DEVELOPMENT INCENTIVE PROGRAM AGREEMENT THIS AGREEMENT is effective as of the/offaLday of/~'. 199_~by and between City of Sanford, a political subdivision of and in the State of Florida, whose address is 300 North Park Avenue, Sanford, Florida 32771 (hereinafter referred to as the "CITY") and CONVEYOR SYSTEMS, INC., authorized to do business and doing business in the State of Florida, whose address is 2801 W Airport Blvd. Sanford, FL 32771, (hereinafter referred to as the ("COMPANY) whose Federal Employer I.D. Number is 59-246-02-13. WITNESSETH: WHEREAS,the City Commission of the City Sanford, Florida, recognizes the need for economic development stimulation for specific industry types and specific City geographic area; and, WHEREAS, the City Commission of the City of Sanford, Florida desires to encourage the development of strong healthy Commercial/Industrial activity in the city of Sanford; and, WHEREAS,the City Commission of the City of Sanford, Florida desires to provide incentives in the City economy which will encourage job development; and, WHEREAS, an economic development incentive program can provide needed capital for Commercial/Industrial development and thereby encourage economic expansion and job creation; WHEREAS,assisting Commercial/Industrial development and encouraging job creation serves a valid public purpose as it provides for an expanded tax base and for enlarged employment opportunities; and, WHEREAS,the City of Sanford, has enacted, through Ordinance No. 3273, an Economic Development Incentive Program (hereinafter referred to as ("the E.D. Program") and has the fiscal capacity t~ conduct and accomplish the programs relating thereto; and, 1 WHEREAS, the Company will expand its industry or business to the City of Sanford and thereby create employment opportunities, which will be marketed vigorously in the City, and to make capital investments all in accordance with the City's Economic Development needs, the City's Comprehensive Plan, Economic Development Element, the Company's E.D. Program application, and the City's Ordinance Number 3273; and, WHEREAS, Company and City desire to enter into this Agreement for the purpose of gaining additional assurances to the City that certain expenditures by the City will produce a positive economic effect in the City of Sanford as a result of the Company's activities in the City of Sanford; and, WHEREAS, COMPANY is proposing to purchase an existing building at a location in Seminole County and relocate and acquire machinery and equipment at a cost of approximately THREE MILLION EIGHT HUNDRED TWENTY-FIVE THOUSAND AND NO/IOO DOLLARS ($3,825,000.00) which sum represents a significant capital investment; and, WHEREAS, the new jobs created and capital investment made by the COMPANY will make the project economically viable in terms of economic development; and, WHEREAS, the COMPANY is eligible to receive a grant through the Clty's E.D. Program; and, WHEREAS, the City has determined that in order to enhance and preserve the health, education, and welfare of the citizens of the City it is necessary, proper, and desirable to enter into this Agreement with the COMPANY in order to enhance the economic development of the City of Sanford; and, WHEREAS, the City finds and declares that it is in the public's best interests and serves a public purpose to award a grant through the City's E,D. Program to COMPANY pursuant to the terms of this Agreement. NOW, THEREFORE, in consideration of the premises and mutual covenants hereinafter contain and other good and valuable consideration, the receipt and 2 sufficiency of which is hereby acknowledged, the parties do hereby covenant and agree as follows: Section 1. Recitals. The above recitals are true and correct and form a material part of this Agreement upon which the paxties have relied. Section 2. Definitions. (a) "New Permanent Jobs" - means now permanent jobs made available to years, from the date of this agreement, and having a minimum annual base wage of TWENTY THOUSAND AND NO/100 DOLLARS ($20,000.00). (b) "Project" - means the acquisition of and relocation of the COMPANY operations to the Simplimatic Building located on Airport Boulevard in City of Sanford. Section 3. Representations of the COMPANY. The COMPANY hereby represents and warrants to the City the following: (a) The COMPANY is duly organized and validly existing under the laws of the State of Florida and is authorized to do and is doing business in the State of Florida. (b) The COMPANY has the corporate power, authority, and legal right to execute, deliver, and perform this Agreement. The execution, delivery, and performance of this Agreement by the COMPANY has been duly authorized by all necessary corporate and shareholder action. (C) The COMPANY's Project Manager shall be BRI Butt or his/her designee. Section 4. Covenants of the COMPANY. The COMPANY hereby covenants with the City to do the following: {a) The COMPANY agrees to locate or expand its business operations inside the corporate limits of the City and agrees to create and provide certain employment opportunities in the CITY as more specifically set forth below. The COMPANY will secure its obligations relating to this Agreement by causing to be issued, in favor of the CITY, a performance bond, letter of credit, real property lien, or other surety satisfactory to the CITY. (b) In consideration of approval of its application for funds under the provisions of this Agreement by the CITY, the COMPANY guarantees a minimum of twenty five (25) new permanent jobs will be provided at the Project, within the CITY within two (2) year from the date of this agreement and be maintained for five (5) years from the date of this agreement. The COMPANY expects to exceed this minimum requirement by employing sixty (60) persons prior to the end of this agreement. The total mum number of new jobs represents a CITY expenditure of $2,000.00 per new job created. All jobs must be created and occupied (personnel may change) within two (2) years from the date of this agreement and sustained for five years from the date of thls agreement. Job announcements and vacancies must be advertised in a Sanford local newspaper and notice of need must be forwarded to Job Services of Central Florida, and the Community Development Department of the City of Sanford. (C) New permanent employment means permanent jobs made available by the COMPANY to persons not having been previously employed by the COMPANY and shall be compensated to an annual minimum salary of, minus all paid employee/employer paid fringes, ($15,000.00) FIFTEEN THOUSAND dollars per annum per full time equivalent job or, including all paid employee/employer paid fringes, ($20,000.00) TWENTY THOUSAND dollars per annum per full time equivalent job. (d) The COMPANY agrees that the project will result in the expenditure of at least THREE MILLION EIGHT HUNDRED TWENTY-FIVE THOUSAND AND NO/1OO DOLLARS ($3,825,000.00) of capital investment relating to the Project. (e) The COMPANY agrees that expansion will commence on or before November 10, 1995 and be complete on or before December 1, 2002. (I) The COMPANY shall provide written. verification satisfactory to CITY of compliance with this Agreement. (g) When the jobs have been created or capital investments have been made, 4 the COMPANY shall cause notice to be given to the CITY and will make the documentation available for review and inspection by the CITY. Section 5. Covenants of the CITY/Grant Funds. (a) The COMPANY agrees to fully secure its obligations relating to this Agreement by causing to be issued, in favor of the CITY, a letter of credit, performance bond, or other surety acceptable to the CITY. (b) The CITY conditions its obligations herein subject to the COMPANY promptly furnishing to the CITY, with evidence satisfactory to the CITY, that the COMPANY has accomplished its obligations relating to the Project. Reports shall be made to the CITY by the COMPANY every six months, in a format provided by and satisfactory to the CITY. Section 6- Term. This Agreement shall become effective upon execution by the CITY and the COMPANY and shall remain in effect through close out of the Agreement pursuant to and consistent with its terms. Section 7. Reports. (a) The COMPANY shall provide the CITY with reports at least every six months, or as frequently as specified by the CITY, on forms approved by the CITY for the duration of the Project. These reports shall give information regarding the number of new permanent jobs that have been provided by the Project and of all activities affecting the implementation of this Agreement including, but not limited to, a narrative summary of progress on the Project in the report form approved by the CITY. (b) The COMPANY shall provide to the CITY a written annual verification, satisfactory to the CITY in its sole discretion, of compliance by the COMPANY with all agreed upon performance standards as set forth herein which verification must be certified by an officer of the COMPANY and submitted to the CITY. Annual 5 verifications shall cover the entire twelve (12) month period subsequent to the effective date of this Agreement and subsequent twelve (12) month periods for total of five (5) annual verifications. The COMPANY, at its sole cost and expense, shall provide such verification to CITY. Section 8. Force Majeure. In the event any party hereunder fails to satisfy a requirement imposed in a timely manner, due to a hurricane, flood, tornado, or other Act of God or force majeure, then said party shall not be in default hereunder; provided, however, that performance shall recommence upon such event ceasing its effect. Section 9. Binding Effect. This Agreement shall be binding upon and inure to the benefit of the parties hereto and the successors in interest, transferees, and assigns of the parties. Section 10. Assignment. This Agreement shall not be assigned by either party without the prior written approval of the other. Section 11. Public Records. The COMPANY shall allow public access to all documents, papers, letters or other materials which have been made or received by the COMPANY in conjunction with this Agreement. Section 12. Records and Audits. (a) The COMPANY shall maintain in its place of business all books, documents, papers, and other evidence pertaining to work performed under this Agreement. Such records shall be and remain available at the COMPANY's place of business at all reasonable times during the term of this Agreement and for five (5) years after Agreement closure. (b) The COMPANY agrees that the CITY or its duly authorized representatives shall, until the expiration of five (5) years after Agreement closure, have access to examine any of COMPANY'S books, documents, papers, and records involving transactions related to this Agreement. The COMPANY agrees that payments made under this Agreement shall be subject to reduction for amounts charged which are found on the basis of audit examination not to constitute allowable costs. (C) All required records shall be maintained until an audit has been completed and all questions arising from it are resolved or until five (5) years after closure of the Agreement, in writing, and submission of the final invoice, whichever is sooner. Company will provide proper facilities for access to and inspection of all required records. Section 13. Notices. (a) Whenever either party desires to give notice unto the other, notice may be sent to: CITY CITY Manager 300 North Park Avenue Sanford, Florida 32771 with copies to: Community Development Director 300 North Park Avenue Sanford, Florida 32771 COMPANY Bill Butt Vice President 2801 W. Airport Blvd. Sanford, FL 32771 (b) Either of the parties may change, by written notice as provided herein, the addresses or persons for receipt of notices or invoices. All notices shall be effective upon receipt. Section 14. Indemnity and Insurance. (a) Each party to the Agreement is responsible for all personal injury and property damage attributable to the negligent acts or omissions of that party and the officers, employees, and agents thereof. (b) To the extent allowed by law, each party to this Agreement shall indemnify, save and hold harmless the other party and all of its respective officers, agents, and employees from and against all losses and all claims, demands, payments, suits, actions, recoveries, and judgments of every nature and description whatsoever, including claims for property damage and claims for injury to or death of persons brought or recovered against the other party to this Agreement by reason of any act or omission of the responsible party, lts respective officers, agents, subcontractors, or employees, in the execution of the work relating to this Agreement. (C) The parties further agree that nothing contained herein shall be construed or interpreted as denying to any party any remedy or defense available to such parties under the laws of the State of Florida, nor as a waiver of sovereign immunity of the City beyond the waiver provided for in Section 768.28, Florida Statutes. (d) The COMPANY shall provide necessary workers compensation coverage and unemployment compensation for its employees. Section 15. Conflict of Interest. (a) The COMPANY agrees that it will not engage in any action that would create a conflict of interest in the performance of its obligations pursuant to this Agreement with the CITY or which would violate or cause others to violate the provisions of Part III, Chapter 112, Florida Statutes, relating to ethics in government. (b) The COMPANY hereby certifies that no officer, agent or employee of the CITY has any material interest (as defined in Section 112.312, Florida Statutes) either directly or indirectly, in the business of the COMPANY to be conducted here, and that no such person shall have any such interest at any time during the term of this Agreement. {C) Pursuant to Section 216.347, Florida Statutes, the COMPANY hereby agrees that monies received from the CITY pursuant to this Agreement will not be used for the purpose of lobbying the Legislature or any other State or Federal Agency. Section 16. Equal Opportunity Emplo.vment. (a) The COMPANY agrees that it will not discriminate against any contractor, employee, or applicant for employment or work under this Agreement because or on account of race, color, religion, disability, sex, age, or national origin and will insure that applicants are employed and employees are treated during employment without regard to race, color, religion, sex, age, or national origin. This provision shall include, but not be limited to, the following: retention; award of contracts; employment; upgrading, demotion, or transfer; recruitment advertising; layoff or tenxxination; rates of pay or other forms of compensation; and selection for training, including apprenticeship. (b) The COMPANY agrees that it will comport all of its activities with the provisions of Chapter 760, Florida Statutes. Section 17. Compliance with Laws and Regulations. In performing under this Agreement, the parties shall abide by all laws, statutes, ordinances, rules, and regulations pertaining to, or regulating the performance set forth herein, including those now in effect and hereafter adopted. Any material violation of said laws, statutes, ordinances, rules, or regulations shall constitute a material breach of this Agreement, and shall entitle the non-violating party to terminate this Agreement immediately upon delivery of written notice of termination to the violating party. Section 18. Emplo_vee/COMPANY Status. {a) Persons employed or retained by the COMPANY in the performance of services and functions pursuant to this Agreement shall have no claim to pension, workers' compensation, unemployment compensation, civil service or other 9 employee rights or privileges granted to the CITY's officers and employees either by operation of law or by the CITY. (b) The COMPANY assumes total responsibility for salaries, employment benefits, contractual rights and benefits, contract payments, and Federal, State and local employment taxes, if any, attributable to the COMPANY personnel or contractors and agrees to Indemnify and hold the CITY harmless from any responsibility for same. (C) In performing this Agreement, planning, developing, constructing, equipping, and operating the Project or eanylng out any of the activities to be earfled out by the COMPANY, the COMPANY will be acting independently, in the capacity of an independent entity, and not as a joint venturer, partner, associate, employee, agent or representative of the CITY. Section 19. No Third-Party Beneficiaries. This Agreement is made for the sole benefit of the parties hereto and theft respective successors and assigns, including any successor in interest to the COMPAN, s interest in the Project, and is not intended to and shall not benefit any third party. No third party shall have any rights hereunder or as a result of this Agreement or any right to enforce any provisions of this Agreement. Section 20. Contingent Fees/Conflicting Emplo_vment. (a) The COMPANY covenants that it has employed and retained only bona fide employees working for the COMPANY and attorneys and consultants, to solicit or secure this Agreement. The CITY warrants that it has not paid or agreed to pay any person, company, corporation, individual or firm, other than a bona fide employee working for the COMPANY, any fee, commission, percentage, gift or any other consideration, contingent upon or resulting from the award of making of this Agreement. (b) The COMPANY agrees that at the time of execution of this Agreement it has no retainer or employment agreement, oral or written, with any third party relating to any matters which adversely affect any interest or position of the CITY. The COMPANY shall not accept during the terms of this Agreement any retainer or employment from a third party whose interests appear to be conflicting or inconsistent with those of the CITY. Section 21. Governing Law/Attorneys' Fees. This Agreement shall be construed and interpreted according to the laws of the State of Florida. In the event of litigation between the parties arising from or pertaining to this Agreement, the prevailing party shall be entitled to recover from the other, reasonable trial and appellate attorneys' fees and costs. Section 22. Construction of Agreement. This Agreement shall not be construed more strictly against one party than against the other merely by virtue of the fact that it may have been prepared by counsel for one of the parties, it being recognized that both parties, CITY and COMPANY, have contributed substantially and materially to the preparation hereof. Section 23.Constitutional and Statutory. Limitation on Authority of the CITY. The terms and conditions of this Agreement placed upon the CITY are applicable only to the extent they are within and consistent with the constitutional and statutory limitations on the authority of the CITY. Specifically, the parties acknowledge that the CITY is without authority to grant or pledge a security interest in any of the CITYs revenue sources or property. Section 24. Events of Default/Remedies. {a) For purposes of this Agreement, "Event of Default" shall mean any of the following: (1) The COMPANY shall misapply or cause the misapplication of CITY funds or credits received pursuant to this Agreement. (2) Any representation or warranty made by the COMPANY herein or in any statement, invoice or certificate furnished to the CITY in connection with the performance of the Agreement proves to be untrue in a material respect as of the date of issuance or making thereof and shall not be corrected or brought into compliance within thirty (30) days after written notice thereof to COMPANY by CITY. (3) The COMPANY shall materially breach any covenant contained in this Agreement and such breach shall not be corrected or cured within thirty (30) days after written notice thereof to the COMPANY by the CITY; provided, however, that the CITY may declare a lesser cure period in the event that it finds, in its sole and absolute discretion, that such lesser period is necessary to protect the public health, safety or weftare. (4) The COMPANY fails to provide to the CITY the written verification, satisfactory to the CITY, of its performance obligations herein. (5) The COMPANY fails to expend Grant Funds in accordance with this Agreement. (6) The COMPANY fails to create and fill the minimum number of permanent new jobs within the limit prescribed in this Agreement. (7) The COMPANY fails to maintain the permanent new jobs created for the time period required by this Agreement. {8) The COMPANY falls to maintain an average salary level for such new jobs created equal to or greater than the per annum salary set forth in this Agreement. (b) If within forty-five (45) days after receiving written notice from the CITY that an Event of Default has occurred, the COMPANY shall either: (I) refund to the CITY that mount of funds equal to $2,000.00 per new job not created pursuant to the terms of this Agreement; or (ii) refund such disbursed funds which the CITY determines have been misapplied under the terms of this Agreement, or, in the alternative, deposit such ftmds into the registry of the court, subject to determination of the CITY'S entitlement thereto. The CITY may proceed 12 to assert any and all legal or equitable remedies provided by law. Section 25 Counterparts. This Agreement may be executed in any number of cotmterparts each of which, when executed and delivered, shall be an original, but all counterparts shall together constitute one and the same instrument. Section 26. Headings. All sections and descriptive headings in this Agreement are inserted for convenience only, and shall not affect the construction or interpretation hereof. Section 27. Time. Time is of the essence of this Agreement. Section 28. Severability. If any provision, term or clause of this A~reement is determined to be invalid or unenforceable by a Court of competent jurisdiction, said determination shall not, in any way, effect the obligation of the parties as provided for or referred to herein and, to that end, the provisions of this Agreement shall be deemed severable. However, such invalidity or un-enforceability shall preclude the continuing effect of this Agreement if a failure of consideration were to occur. Section 29. Entire Agreement. (a) This Agreement constitutes the entire agreement of the parties with respect to the subject matter hereof, and may not be modified or amended except by a written instrument equal in dignity herewith and executed by the parties to be bound thereby. (b) No waiver or consent to any departure from any term, condition or provision of this Agreement shall be effective or binding upon any party hereto unless such waiver or consent is in writing, signed by an authorized officer of the party giving the same and delivered to the other party. (C) The COMPANY agrees that no representations have been made by the CITY in order to induce the COMPANY to enter into this Agreement other than as expressly stated in this Agreement. {D) The CITY may elect to make grant payments, at a rate of $2,000.00 per new job created, upon receiving a written request from the COMPANY, which shall 13 include verification of job creation, method for position solicitation and wage and benefit documentation IN WITNESS WHEREOF, the parties hereto have made and executed this Agreement for the purposes stated herein. ATTEST: CONVEYOR SYSTEMS, INC. '~LEED. HARRI~N, STANLEY. NEWTON Vice President/Secretary President ATTEST: CITY OF SANFORD, FLORIDA !:~ ~ ,.. d~ DATE 14 Barnett Bank of Central Florida, N.A. 390 N. Orange Avenue Suite 700-CB Post Office Box 3200 Catherine L. Sterba Orlando, Florida 32802-3200 Vice President (407)420-2733 Fax (407)420-2886 March 26, 1996 Mr. Charles Rohe City of Sanford P.O. Box 1778 Sanford, Florida 32772-1778 Dear Charles: On February 29th, Barnett Bank issued a ~50M Standby Letter of Credit with the City of Sanford as the beneficiary. The following may clarify your questions with respect to this letter: The letter can be renewed annually as requested by Conveyor :Systems and approved by Barnett Bank for as many years as needed. There is a 60 day clause within the letter that would require the bank to notify you 60 days prior to any cancellation. if there are any other questions, please give me a call at 420-2733. Sincerely, Catherine L. Sterba Vice President Corporate Banking CLS:dlf CLSMAR\027 CC: Cliff Decker 04/24/96 14:56 '1~4073212737 CONVEYOR SYSTEHS 1~1001 CONVEYOR SYSTEMS, INC: April 24. 1996 Mr. Charlie Rvwe City of Sanfvrd P.O. Box 1788 Sanford, FL 32772-1788 Dear Mr. Rowe: Cliff Decker a'~ked me to inform you that all shop positions work a minimum of 100 hours overtime per year. Please feel fizee to contact Mr. Decker or myself should you have any questions or require additional information. Sincerely, CONVEYOR SYSTEMS H~uuan Resottrces cc: Mr. CliffDecker 2801 WEST AIRPORT BLVD. - SANFORD, FLORIDA 3~//I USA - TELEPHONE: (407)323-4436 - FAX (407)321-2737 Conve)4ng You TO Excellence CONVEYOR SYSTEMS, INC; April 24, 1996 Mr. Charlie Rowe City of Sanford P.O. Box 1788 Sanford, FL 32772-1788 Dear Mr. Rowe: Cliff Decker asked me to inform you that all shop positions work a minimum o{100 s overtime per year. Please feel flee to contact Mr. Decker or myself should you have any questions or require additional information. Sincerely, CONVEYOR SYSTEMS INC. Wyno~n~ M. Gardner Human Resources cc: Mr. CliffDecker 2801 WEST AIRPORT BLVD, - SANFORD, FLORIDA 82771 USA - TELEPHONE: (407)328-4486 - FAX (407)821-2737 Conveying You To Excellence EMPLOYEES AFTER 11/01/95 # LNAME FNAME HIRE POSITIO PA PER 24 Larson Lorna 11/1/95 ENG 10. HR ~,,~v,~'?' < ' 25 Simmons Waiter 11/27/9 ADM 7 HRo ~. 25 Mitchell Guy 12/18/9 ASM 8.5 HR 25 Everett Thomas 12/22/9 AS~M 25 Alban Steven 12/21/9 ASM 7.2 HR · 25 Peterman William 1/15/96 ASM 7.5 HR 26 Tucker Charles 1/31/96 ASM 7 HR · 26 Epstein Mark 1/31/96 ASM 7 HR ' 25 C, fc~n Theodore 1119108 WELD '~;' ~o.,5 .... ~'~ 25 Tomlinson Joyce 1/24/96 ADM 9.5 HR '07. ~ ~ c,o / ' 26 Stafford Lee 1/28/96 WELD 10 HR 21 Fogle Ronald 1/22/96 ASM 8 HR 12 Bianconi Nicolas 2/19~96 WELD 9.5 HR ~ } ~A,* ~\ ,,~ q2//' 26 Liberatore Kenneth 2/12/96 ENG 10 HR 26 Maya Raphael 2~5~96 WELD 9 HR 26 Henry Richard 2/19/96 ENG 10. HR 26 Fisher Nathaniel 2/19/96 MAINT 9.7 HR 26 Davis David 1/30/96 WELD 8' HR ///,~,,\~nr 7 \ '25 Janok Alon 1/15/9C ENC :~,,Y t- 26 Wolfe Ronald 3/1/96 SALES 1~ o 00 WEE 26 Hawkins Edgar 3/14/96 ASM 7 HR · 27 Murray James 3/25/96 ASM ~.._62~"':~R':.,""/,~, L 27 Kinner Dale 3/25/96 ASM 8 RR 27 Smith Clarence 4/1/96 ENG 12. HR 27 Brooks Hubert 4/1/96 ASM 6.5 HR '--~-=~ 27 Steven Holmes 4/15/96 ENG 10. HR CONVEYOR SYSTEMS, Phone (407) 323-4436 Fax (407) 321 ~2737 Conveying You To Excellence Thursday, April 18, 1996 Page 1 12696 0455540012 12/31/95 421.20 421.20 0.00 422 TRX DESCRIPTION: PO # 0000010517 $421.2 [:g~ L-gg~-009-i- 'I]V3 /..g.Lg-0~'b' (/0~) 'I'IVO S-'19~IVNO ]S~HI 9NlOHVe5]~I NOIIV~8OB. NI EIO_-I C]V d2~I.alSSV'IC) V ~]OV'ld Oa ,. : ¥ 9~ISII~3AaV ]VIOl 8GGSOZ00IIS :#Or [00~ggg~0 :#ANI [ ~dea 'p,lsB -- SSOP:QI QV [0~eL~Z98 :#0M artfox'rill anford FL 32772 1667 ~-~ ~ 357e05 1/28/9~ .O~21E i~71 ~ '~" ' ~CNC AMAD · ~., ,~.~, -. i/~6/96 ~.. ":".: .' } 10 2 87.15 87. 69, 7~ 69, 72 ~ ".. .. .. ~7 ':: ;: '.. . ':: ~. :'~ "' :'~..':~:DUE UPON REC~'~I,I ,~,fi,,~ '~" ~ ~":'~ :;.,~ :,,~:.,.:.. :::::::~?,:~:7:~:,:,~ CLASSIFIED ADVERTISING 3Nt3N~CE ~E ' * CLASSIRED ADVERTISING INVOICE Sanfiddling-.;. S brdHerald P. ox 1667 't R .box 1667 : anord, FL32772~1667 , i -: ~INDUSTRI ! '*INDUSTR ' ~ 05 ~'.: 22 2 54 54.97 ~ ':~ : ' 22.49 22.4~ " "' ~a' 1t DUE UPON RECE Ib'I 0j/0~ ::,>:, :: ,: "'~:.:,..:~0 RE I "'~8 Ser~ inquiries To: Telephone Numbers: PLEASE DETACH AND ENCLOSE SouthTrust BankCard Center 24 Hr. Information 800/239-8472 TOP PORTION WiTH PAYMENT P.O. BOx122 CustomerService 205/978-6363. Birmingham, AL 35201 800/292-6538 1H ~811 ACCOUNT NUMBER ~ ~ 2~ O~ ~0 0 2, 2~28~006052000~0005~2 5~6~ O~LANDO SENTZNEL CLASS AD ORLANDO FL ~7:0 O~ 22 ~ 22 0550006~8~6 , O~ER LZHZT FEE ~ O0 : ~ ~ PURCHASZNG POHER AND FLEXZ~ZLZTY TO HEET YOUR $HOPPZNG AND TRAVEL NEEDS :: T R A N S A C T ~ 0 N S RATE BATE FINANCECHARGE OF PERIODIC ~TE ALL TRANSACTZONS 1.5000~ Z8.OOX ~76.58 NOTICE: SEE REVERSE SIDE FOR IMPORTANT INFORMATION. ~ Florida Depa~ment of Labor and Employment Security ~ Division of Labor, Employment and Training Lawton Chiles Governor '~"/ Doug Jamerson Secretary Florida Jobs and Benefits Job Order Taker Unit 105 Live Oak Gardens Casselberry, Florida 32707 (407) 262-7599 Fax (407)'262-7595 Toll Free 1-800-LIST A JOB CONVEYOR SYSTEMS, December 4, 1995 Attn: Nonie Dear Employer; Thank you for the job order(s) listed with us. As part of our campaign to improve service to Seminole, Orange, and Osceola County employers, we have enclosed a computer print-out of your order(s). Please review the copy to insure that the content accurately describes the job(s) you have listed. Should you desire any changes to the job order, please contact JOB ORDER TAKER UNIT at the above phone number. A well-prepared job order will help us select the best qualified candidates for you. It is important that you notify the Jobs and Benefits Office when you have filled the position. This will allow us to verify and close your order and avoid referrals to you for a job that is no longer available. We look forward to assisting you with all your employment related needs. Sincerely, JOB ORDER TAKER UNIT Sanford Jobs and Benefits ~~,, ~l:[6T~a Depa~ment of Labor and Employment Securi~ ~ ~i Division of Labor, Employment and Training ~-~ ~ Orange, Osceola, Seminole Job Order Unit '~' Lawton Chiles ~ 105 Live Oaks Gardens, STE 141 ~F Governor Casselberry, FL 32707-3283 ; ~iI.~..~i~~ (407) 262-7599 Fax (407) 262-7595 ~. ~iE:~ .,;~:/ Secreta~ Long Distance: I 800 547-8256 ~ FL: TITLE: Dear Employer: Thank You for placing your job order with us. We are working diligently to serve the needs of employers and applicants. Therefore.we are asking you for information r~garding the status of applicants we have referred to you. Attached is a list of our current referrals. Please give us the status of each applicant by using the appropriate codes from the'list below. Please fill in the blank results spaces and return it to us in the enclosed postage paid, self addressed envelope. This information is important. Some of our applicagts have filed an Unemployment, C6mpensatiOn Claim, and we are required to report the status of all .applicants who are receiving unemployment compensation benefits. We are always happy tO assist you'in getting the best worke~ possible, Thank you for your prompt.attention. Sincerely, Customer Service Specialist " STATUS.CODES 1. HIRED l D~TE ST.~.TED 2. REFUSED JOB ******** 3. DID NOT REPORT FOR INTERVIEW WE 2LLSO NEED TO KNOW IF- THE POSITION(S) HAVE BEEN 4L DID NOT REPORT TO WORK FILLED 6. NOT HIRE/OTHER CONVEYOR SYSTEMS, INC7 December 8, 1995 Charles A. Rowe, Director of Community Development City of Sanford P. O. Box 1788 Sanford, Florida 32772-1788 RE: Economic Development Incentive Program Dear Mr. Rowe: To expand on our narrative of our expansion/relocation project as detailed in Section IV, Item 4 of our application, please review the following: Conveyor Systems, Inc. has been in business for eleven years and is a manufacturer of state-of-the-art conveying systems for the food and beverage industry. Currently, our major product lines deal with the conveying of empty beverage cans throughout the fabrication process in can manufacturing plants. In order to expand this and associated product lines, it is necessary that we move to a larger plant. The company presently employs about 75 people in the DeBary facility and plans to expand that number to more than 100 within a year of moving to a larger factory. Projections indicate that the total number of employees could grow to 150 to 200 in five years. The industry is currently enjoying a tremendous growth period, particularly in world-wide markets. CSI's major customers are giants such as Anheuser Busch, Crown Cork & Seal, and Ball Container Corp. These Blue Chip corporations are heavily involved in overseas operations and the expansion potential these markets provide. Some of CSI's recent shipments have been to such diverse locations as Turkey, South Africa, China, Europe, and Viet Nam. We are asking the city for economic assistance that will enable us to relocate to Sanford. We are currently looking at several properties in both Seminole and Volusia counties. We need a one-time economic incentive package of $100,000 that would help with the moving and start-up costs of a new factory. We see this assistance as a two-fold benefit; the company would be more easily able to relocate and the county would benefit from 100 new jobs, additional property taxes, and services that would be required from local vendors. The funds would be disbursed as part of the cost of the following items: 2801 WEST AIRPORT BLVD. - SANFORD, FLORIDA 32771 USA - TELEPHONE: (407)323-4436 - FAX (407)321-2737 Conveying You To Excellence AutoCadd software - 9 copies @ $3,000 - $ 27,000.00 Synthesis engineering software - 5,500.00 Time Management system (Hardware & software) - 12,000.00 Dell pentium computers (2 @ $2,100) - 4,200.00 Management consultant (Labor) - 6,500.00 Computer &telephone cabling - 20,000.00 Moving expenses - 9,000.00 Furniture - 7,500.00 Stock room fence - 2,854.00 Novell upgrade - 3,000.00 New file server - 4,000.00 Welding units (3 @ $1,500) - 4,500.00 Additional printers, plotters, &software - 5.000.00 $111,054.00 In addition, we have major capital purchases planned that will exceed $1,000,000.00 in cost. These will occur over the next several years. I hope that this provides you with the necessary details to complete our application. Please feel free to call if you need anything further. Thank you very much Very truly yours, CONVEYOR SYSTEMS, INC. Gerald F. Daus Treasurer/Controller CONVEYOR SYSTEMS, INC, q,_,~r/,,9 Time Management Systems, Inc. Date Amount 1019 Arlington Avenue North 12/27/95 St. Petersburg FL 33705-1520 Discount $.00 % % +++++++++++++++++++ ~+% . CONVEYOR SYSTEMS, INC~ Check Number 26456 Time Management Systems, Inc. Date Amount '~ 1019 Arlington Avenue North 01/26/96 ~~'~ St. Petersburg FL 33705-1520 Discount $.00 [T1600 INFRA BC IT 1600 INFRAQ BAR 128K 5 EACH 1,600.00 8,000.00 Discount: 0.00 TIME MANAGEMENT SYSTEMS, INC, lo19 ARLINGTON AVENUE NORTH ST. PETERSBURG, FL 33705 1 / 19 / 96 22152 1 (813) 822-3342 ".Eo...E.v..Y ,,,,.u.E co.,s"INVOICE OLD TO SHIP TO CONVEYOR SYSTEMS, INC. CONVEYOR SYSTEMS, INC. 2801 WEST AIRPORT BLVD 2801 WEST AIRPORT BLVD SANFORO, FL 32771 SANFORD, FL 32771 Ref: 7539 J OOUSE OELIVER DUE ON OELIVERY tem-~ Description Quantity Unit Unit-price Ext-price T16eO INFRA BC IT 1600 INFRAQ BAR 128K 5 EACH 1,600.00 8,000.00 Oiscount: 0.00 T485 MASTER AD IT/RS485 MASTER ADAPTER 1 EACH 350.00 350.00 Discount: e.ee MS 90/250 SOFTWARE/TMS 90/250 EMPL 1 EACH 2,s00.oe 2,500.00 Discount: e.oo ROGRAM, TRAIN & INSTALL 1 EACH 1,BeD.Be 1,B00.00 Discount: 0.00 25 GREAT PLANES PAYROLL FILE 1 EACH 395.00 395.00 Discount: 0.00 25 GREAT PLANE JOB COST FILE 1 EACH 500.00 500.00 Discount: 0.00 1074 BAR CODE BADGES 250 EACH 2.00 500.00 Discount: 0.00 14,045.00 EPOSIT CHECK RECEIVED ON THIS INVOICE~ 0.00 ALANCE DUE ON DELIVERY OF EQUIPMENT. 983.15 HANK YOU FOR YOUR ORDER. 0.00 15,028.15 ~ Engineering Design Automation 224 Kelly Rd Bellingham, WA 98226 USA Phone (360) 398-1319 Fax (360) 398-1320 Invoice # 1218 26-Jan-96 Attention: Accou=ts Payable Conveyor Systems Inc. (CSI) 2801 West Airport Blvd Sanford, FL 3277]. Regarding: Po Nttmber: 0000010422 Invoice items Phase I of the Automated Conveyor Design and Drafting System Programming and developmeat ].0 days (~ $600.00/per = $6,000.00 Creating master drawings 2 days ~, $400.00/per = $300.00 Testing and user manual development 5 days (~ $400.00/per = $2,000.00 Subtotal = $8,800.00 Phase II of the Automated Conveyor Design and Drafting System Syathesis Puntime P,13 1 copy ~ $995.00/per = $995.00 SyathesistralnlngatCSI 2days ~ $800.00/per = $1,600.00 Learning design xules at CSI 4 days ~ $800.00/per = $3,200.00 Assistiag with development ofdesign map 3days ~ $400.00/per = $].,200.00 Development of solutioas for overall automated 2 days (~ $600.00/per = $1,200.00 system Air fare, rental car l charge ~ $850.00/per = $850.00 Lodging 7 days ® $80.00/per = $560.00 Subtotal = $9,605.00 Total ~~;;:~ Notes: Term net days: ].0 Please make payable to Engineering Design Automation Thank you, Hiroshi Takaki President EDA, Inc. co.wYo. sYsTems, ,.c. 0 2 6 5 7 j 13003 1218 02/02/96 18,405.00 18,405.00 0.00 18,405.00 $18,405.00 m BA,NE, BANKo,AL~AsBE~026573 63-568t631 ¢Ot!VEyOR SYSTEMS. ******'18 405 DOL~S ~ 00 CENTS 02/02/96 26573 $****'18,405.00 PAY TOTHE Engineering Design Automation 234 Kelly Road ORDEROF Bellingham WA 98226 ACCOUNTSPAYABLE ,I'D 2&575"' m:O&~ AOS&a]m: BOODO AD CONVEYORSYSTEMS, INC. Check Number 26573 Engineering Design Automation Date Amount 234 Kelly Road 02/02/96 $18,405.00 Betlingham WA 98226 Discount $.00 ~ Lr) I-- ~ uJ ,>. "r .-J h- 0 0 rr I-- rr 4: O~ ~ Z Z ~r, 0 O~On'rtLI o ~ ~ Z 0 > . ,: .~ Z"r'W "'o : '--;E' z t- WO .>,,-- : :E:: ¢n::: d:E co ,%o° WHO : LtlZOI : <a ';.) Ol::>r'r '~' : ~> ® :_ ,~: :' o ~o~ zo ~, . :~'~ . o '< o ~, ·~o~' ,:Eo ... :~-,- ,>. .- "- Z a:: z_ aoo ~a ~: L0 o e, ~1- CONVEYOR SYSTEMS, iNC. L326507 12532 078240 12/22/95 126.56 126.56 0.00 126.56 TRX DESCRIPTION: PO # 0000010184 $126.56 MB'''"N'~'B'''N'~°'TAL~"'''sS"' 026507 63-568/631 CONVEYOR SYSTEMS, INC:~ PAY *********'126 DOL~S ~D 56 CENTS 01/30/96 26507 $*******'126.56 TOTHE Business & Instit. Furniture OeOEROF 611 N. Broadway ACCOUNTSPAYABLE P.O. Box 92039 Milwaukee W! 53202-0039 "'0 2&EO?'l' ~:O~ ~OEB~5': 80000 ;0; ~Ol,' CONVEYORSYSTEMS, INC. Check Number 26507 Business & Instit. Furniture Date Amount 611 N. Broadway 01/30/96 $126.56 P.O. Box 92039 Milwaukee WI 53202-0039 Discount $.00 _ I-- <( -, :I:n'' 61('4 OC I-- rr ( -,, ,.×~o~ n J rr r~ .~Qe~ rr~ wk_ t Z Z LU = ~ ~ IDZlLilII >D ' != Ltl IL .>., '~ '~ ~( l~ EO E .~ o "~ lil "oe :r:::~ h o ',' z :=' W I ~tO 0 Z "' ~_o """ ~E'r_ '~ E - wo D wz ~ [ ' Ca>G. ffi>-O. a_ o~ .j .jffirr/ .jffin-j ~ i~ e,. w Z ~ 4:,Y~: 4:~<1: ~- id ZZOZ ZZOZ W ,0 \ mN ,-.~0.~ _ IJ ,'; (D ~ ,,. ','-~1'- --0,,~ :_T' . '; -JO n-O w ~ 0 IOl-- '~m I- ~ CONVEYORSYSTEMS, INC. Check Number 26306 Business & Instit. Furniture Date Amount 611 N. Broadway 01/12/96 S727.17 P.O. Box 92039 Milwaukee WI 53202-0039 Discount $.00 co,~¥o. sYs'~Ms, ,Nc. 026643 12590 134t 12/28/95 1,584.75 1,584.75 0.00 1,584.75 TRX DESCRIPTION: PO ~ 0000010260 $1,584 . 75 m ~"~°'~'~ 026643 83-568/631 (OHVEYOR $Y~EH$, IHC~ ri' PAY *~*****'1~58~ DO~S ~D 75 C~S 02/08/96 266~3 TOTHE Calkins Electric Const. Co. ono~noF 521 S. Woodland Bird. DeLand FL 32720 ACCOUNISPAYABLE · USA CONVEYORSYSTEMS, INC. Check Number 26643 Calkins Electric Const. Co. Date Amount 521 S. Woodland Blvd. 02/08/96 $1,584.75 DeLand FL 32720 Discount $.00 USA INVOICE IIII1(t *** PEABODY, MASSACHUSEttS CUSTOMER ). BOX 370059, BOSTON, MA 02241-0759 USA 16399 508) 538-8000 538-8700 Conveyor Systems Inc Conveyor Systems Inc 8801 West Airport Btvd 8801 West Airport Btvd Sanford, FL 38771- USA Sanford, FL 38771- Telephone: ~07-383-4~36 Contact: Tom Butler 18/88/95 0030983011/11 349.9500 699.90 -MICRO PRINT SERVER 10BASE-T ~.9500 4.95 ~FREIGHT ~** Please include N.E.C.X,: invoice~on remittance *** :SEEREVERSESIDEFORADDITONALTERMSANDCONDITONS service charge of 1% % per month ( t 8% per year) will be made on all invoices ~ot paid within 30 days of invoice date. CONVEYORSYSTEMS, INC. Check Number 26590 NECX Date Amount P. O. Box 370059 02/05/96 $704.85 Boston MA 02241-0759 Discount $.00 .... """"- CONVEYOR SYSTEMS, INC. Check Nuntber ~ 26323 NECX Date Amount ol/16/96 FL Discount $.00 )RM#SC1622 INVOICE 8OO-53S-81OO INVOICE P61°690 N NI=C;)C~- ~o.--.--~o-. PEABO0t, MASSACHUSETTS CUSTOMER NO. DO~B815 : P.O. BOX 370059, BOSTON, MA 02241-0759 USA 8E34 538-8000 538-8700 ~ Conveyor Systems Inc Conveyor Systems inc 8801 West Airport Blvd ~801 West Airport Blvd Sanford~ FL 38771- USA Sanford, FL 38771- Telephone: 40?-383-4436 Contact: Tom Butler ., INVOICE ~;. I'11111~ *** .Ec× Dirs=t ,,, eoo-53e-e looINVO,CE PBBODY, MASSACHUS~S CUSTOMER REMIT TO: RO, BOX 3700S9, BOSTON, MA 02241-0759 USA 8000 Telephone (508) 538-8000 53~8700 Conveyor Systems Inc Conveyor Systems Inc 2801 West Airport Blvd 8801 West Airport Blvd Sanford, FL 32771- USA Sanford, FL 32771- Telephone: 407-3~3-4438 Contact: Tom Butler TERMS OF PAYMENT NET 30 1 1 319.9500 319.95 -LOWER TRAY-500 SHEETS/LASERJET 4V/4MV 1 1 48.7400 48.74 -FREI6HT · .: :;.:. '.'....' · '.. · .. '.. '~SE~E REVER~E SIDE FOR ADDITIONAL TERMS AND CONDITIONS £HBI3B~- 9T'BB 009I'8B I I NOBIINIBI WNSB'.~I 384~ N~OSIIq~N- ~6'6~0i 00~6'6~0I ~ I ~aI1n8 mol :Ioeluo3 9~-S~S-~0~ :Buoqdmlml -I~B~ q~ ~P~o~ueS ~SR -I~B~ q~ ~P~o~ueS pal8 1~odJT~ IseM I08~ pAI8 ~od~T~ ~s~ I08~ DUI sw~s~S JoAs^uo3 DuI sWm~S~S ~oAm^uo3 CONVEYOR SYSTEMS, INC. 0 2 6 5 0 6 12279 269448 12/07/95 1,078.11 1,078.11 0.00 1,078.11 TRX DESCRIPTION: PO # 0000009240 $!, 078 . !1 026506 63-568/631 CONVEYOR SYSTEMS, INC. TM PAY *~*~**'1,078 DOT,T.A.~S ~ 11 C'~TS 01/30/96 ~6~06 $~**~Z~0?8.ZZ TO THE ORDER OF P. O. BOX 370059 ACCOUNTS PAYABLE Boston MA 02241-0759 "'O ;~&EO&l" ~:O&] AGE&a].: aDODO AO CONVEYORSYSTEMS, INC. Check Number 26506 NECX Date Amount P. O. Box 370059 01/30/96 $1,078.11 Boston MA 02241-0759 Discount $.00 -- INVOICE ~" i ~l~lli~l}l,~ *** NECX Direct ~** 800--538--8 I00 INVOICE 26b,563 N N sM FOUR TECHNOLOGY DRIVE PF..ABODY, MASSACHUSETTS CUSTOMER NO. D028 15 REMIT TO: P.O. BOX 370059, BOSTON, MA 02241-0759 USA Telephone (508) 538-8000 1163 1 Fax (508) 538-8700 Conveyor Systems Inc Conveyor Systems Inc 2801 West Airport Slvd 2801 West Airport Blvd Sanford~ FL 32771- USA Sanford., FL 32771- !Telephone: ~+07-323-4436 Contact: Tom Butler I 1 534,9500 534,95 -BJC-610 720X720 DPI COLOR 1 1 11.0800 11;08 .-FREIGHT x** please inc ~ude N,E;c..X. inVoice~ on remittance ~** SEE REVER~'E SiDE FORADDiTIONAL TERMS AND CONDITIONS A service charge of 1% % per month (18% per year) will be made on all invoices not paid within 30 days of invoice date. CONVEYORSYSTEMS, INC, Check Number 26442 Date Amount N'ECX 01/23/96 $546.03 P. O. Box 370059 Boston MA 02241-0759 Discount $.00 FORM #SC1622 , INVOICE 8OO--53e--8 100 INVOICE ~7~55 N PBBODV, M~SACHUSffS CUSTOMER NO. REMIT TO: P.O. BOX 370059, BOSTON, MA 02241-0759 USA Telephone (508) 538-8000 ax (50 538-8700 C~Onveyor Systems Inc Conveyor Systems Inc ~ Benson ~unc[~on Rd ~OS Benson ~unc~on Rd De ~ary~ FL 3~?~3- US~ De 9ary~ FL S~?~- TeIephone: Contact= Tom 8 8 534. 9500 1069.90 -BjC-610 780X780 DPI COLOR 1 1 19.5400 19.54 ~FREIGHT Z** P l=_aSe -inclUde N.E. C ~ X; invo ice# on: remittance ~,, · ~ ~ SEE REVERSE SIDE FOR ADDITIONAL TERMS AND CONDITIONS A service charge of t '/, % per month (18% per year) will be made on all invoices not paid within 30 days of invoice date. CONW ,NC. 0 2 6 4 { b 12333 267855 12/04/95 1,089.44 1,089.44 0.00 1,089.44 TRX DESCRIPTION: PO ~ 0000009542 $1,089.44 sA,.E',BAN o ' ALLA.Ass,E 026476 63'568/631 CO!',IVEYOR Sy~!"E!,'!S, I!,IC" PAY TOTHE NECX ORDEROF P. O, Box 370059 ACCOUNTSPAYABLE Boston MA 02241-0759 ~~_,, ~Q~I---" _i. "'O B&~ ?B"" ':O& ~ ~0 SBG ],: BOODO ~0 ~ ~0"" CONVEYORSYSTEMS, INC. Check Number 26476 NECX Date Amount P. O. Box 370059 01/29/96 $1,089.44 Boston MA 02241-0759 Discount $.00 CONVEYORSYSTEMS, INC. ~ :~ Check Number 26244 Calkins Electric Const. Co. Date Amount 521 S. Woodland Blvd. 01/10/96 ~~ DeLand FL 32720 Discount $.00 USA $ % 000'9 00'066'9 g i~:oLqnS 00'066'9 00'0 00'066'9 .................... g6-E;-ll GNV 'I[-ll 'ST-iT 'LI-TT 'gl-Tl '~I-ii '~i-ii 'eI-TT 'ii-Ii '0i-Ii '60-Ii '80-II 'Z0-Ii :~08Vl ~O~NVS 'GALE ~Oa~lV '~ i08~ LV iNiRalfi~H aft ~XOOH ~NV NO!Lfi~I~LSIG NV~ x~i epoD ~o!:~o~uI i~gnsD s~eZ ~eq~nN'O'a ~i~Z~8 HOL :18 ~G~O 660~1 X08 '0'~ :~G~O ZSVHD~6 ~Z~8 ~OZ g:gOXNVS-'GAI[ $~Oa~IV'~ i08E 'DNI 'S~ZaSAS ~0Z~ANOO oZ ~S oZ iiT~ CALKINS ELECTRIC CONST.CO.INC. INVOICE Page 1 521,S WOODLAND BLVD.~ 6 PH. (904)734-6751 Invoice # 1231 Bi]~o Date 12/7/95 Ship To CO~VEYOR SYSTEMS, INC. 2801 W.AIRPORT BLVD.-SANFORD AT~'N: TOM BUTLER PURCHASE ORDER: P.O. BOX 14099 ORDER BY: TOM BUTLER ORZANDO, FL 32889-0329 ORDER DATE: P.O.Number Terms General Information Code Description Tax Amount MATERIAL FOR JOB AT 2801 WEST AIRPORT BLVD. - SANFORD - FL INVOICES ATTACHED ................... CITY ELECTRIC X 1,285.54 HUGHES ....... X 882.10 CONSOLIDATED ELECT.SUPPLY X 5,186.48 LABOR FOR THIS JOB WAS BILLED PREVIOUSLY ON INVOICE #1123 Amount Paid $ 0.00 Amount Due $ 7,795.37 SubTotal $ 7,354.12 Tax On 7,354.12 @ 6.000 % $ 441.25 Total $ ~~ "A Better Business Atmosphere" 601 N. Garland Ave. Orlando, FL 32801 . , ~,~' Office (407) 872-0500 Fax ( 839<)015 INVOICE DATE ~f ~;) 2- 7 .,,.-~, 1-800-670-5 """" SOLD TO: ~ ~ SHIP TO: PHONE; ~ Quantity ' ' Unit Price Amount SUBTOTAL TAX DELIVERY CHARGE TOTAL CK~ AMT. PD. ALL SALES RNAL BA~NCE DUE CONVEYORSYSTEMS, INC. Check Number 26363 ABBA Furniture Date Amount 601 N. Garland Avenue 01/17/96 $544.10 Orlando FL 32801 Discount $.00 'oN IopueA ABBA I "A Better Business Atmosphere" 601 N. Garland Ave. Orlando, FL 32801 Office (407) 872-0500 Fax (407) 839~015 INVOICE DATE PHONE: ~ ¼q,~ ~ Ouanfi~y ~ Description Uni~ Price Arecure SUB TOTAL ,~ ~ ~'r~ TAX ~ L i O DELIVERY CHARGE ALL SALES FINAL BALANCE DUE CONVEYOR SYSTEMS, INC. -- Check Number ABBA Fur~G:e Da~e Amou~ 60~ ~. Gar~aD~ A~e~ue ~2/29/95 $376.30 OrZa~do ~ 3280~ D~scou~ $.00 ABBA "A Better Business Atmosphere" Office (407) 872-0500 Fax (407) 839~015 INVOICE DATE /r 1-800-670-55 ~ soLD TO:~0,~--~_.~._.~~,~SH~P TO: PHONE: Quantity ~,AM.~5 ,~l Description Unit Price Amount TAX ~ """"'~t'~ DELIVERY CHARGE d'~ ALL SALES FINAL BALA CONV~ORSYSTEMS, INC, Check Number 26322 ABBA Furniture Date Amount 601 N. Garland Avenue 01/16/96 $401.00 Orlando FL 32801 Discount $.00 ABBA "A Better Business Atmosphere" 601 N. Garland Ave. Orlando, FL 32801 ~.Q Office (407) 87243500 Fax (407) 8~94Z)C)15 INVOICE DATE ' 8OLD TO: -~ 8HIP TO: PHONE: '~j~ FAX: Quantity ~ os~ri ion Unit Pri~ Amount TAX CONVEYORSYSTEMS, INC- Check Number " "~ 26602 ' Date Amount ABBA Furniture 601 N. Garland Avenue 02/06/96 $5,986.00 Orlando FL 32801 Discount $.00 ~" Orlando FL 32839 Discount $. 00 Vendor No. 5679 CON"E¥,,O" SYSTEMS. ,.c, 0 2 6 6 4 3 12590 1341 12/28/95 1,584.75 1,584.75 0.00 1,584.75 TRX DESCRIPTION: PO ~ 0000010260 $1,584.75 M ~*"~°'*~"~*~026643 63-568/631 PAY *~******1,584 DOL~S ~ 75 CENTS 02/08/96 26643 $******1,584.75 Calkins Electric Const. Co. TO THE ' 521 S. Woodland Blvd. ORDER OF DeLand FL 32720 ACCOUNTS PAYABLE USA ,"0 2&&t. 5,,' ,:O~] AOS&aS,:20000 AO ~ ;0',' CONVEYORSYSTEMS, INC. Check Number 26643 Calkins Electric Const. Co. Date Amount 521 S. Woodland Blvd. 02/08/96 $1,584.75 DeLand FL 32720 Discount $.00 USA