Loading...
HomeMy WebLinkAboutR-95-0066J-95-84 1/12/95 RESOLUTION NO. 95 - 66 A RESOLUTION URGING MIAMI CAPITAL DEVELOPMENT INC. (MCDI) TO LEND $200,000 TO UNITED FOODS CORPORATION FOR THE PURCHASE OF THE PROPERTY LOCATED AT 1701 NORTHWEST 7TH AVENUE, MIAMI, FLORIDA, OR OF ANY OTHER SUITABLE SITE WITHIN THE CITY'S TARGET AREAS FOR THE ESTABLISHMENT OF A CHICKEN FURTHER PROCESSING PLANT, SAID LOAN TO BE IN ADDITION TO THE $300,000 PREVIOUSLY APPROVED BY MCDI FOR SAID PURPOSE AND WITH THE PROVISO THAT THERE SHALL BE A MORATORIUM ON THE PAYMENT OF THE PRINCIPAL FOR THE INITIAL SIX MONTH PERIOD OR UNTIL A CERTIFICATE OF OCCUPANCY IS ISSUED FOR THE PROPERTY, WHICHEVER OCCURS FIRST; URGING MCDI TO EXECUTE ANY DOCUMENTS NECESSARY FOR SAID PURPOSE; AUTHORIZING THE CITY MANAGER, IN THE EVENT THAT MCDI IS UNABLE TO PROVIDE SUCH A LOAN, TO TAKE ALL STEPS NECESSARY TO PROVIDE A LOAN, FULLY COLLATERALIZED BY A FIRST MORTGAGE, AT AN INTEREST RATE OF EIGHT PERCENT (8%) PER ANNUM, IN THE AMOUNT OF $200,000, FOR UNITED FOODS CORPORATION, AND TO EXECUTE THE NECESSARY DOCUMENT(S), IN A FORM ACCEPTABLE TO THE CITY ATTORNEY, TO IMPLEMENT SAID LOAN; FURTHER, PROVIDING THAT IN THE EVENT SAID LOAN IS NOT UTILIZED IN ITS ENTIRETY FOR THE PURCHASE OF THE PROPERTY, ALL REMAINING FUNDS SHALL BE UTILIZED BY UNITED FOODS CORPORATION AS WORKING CAPITAL. WHEREAS, the City Commission is committed to economic development and the expansion of trade and commerce; and WHEREAS, the promotion and revitalization of the neighborhoods of the City of Miami is an important part of the City's economic development strategy; and CITY COI`'iMISSION KEETHIC OF JA N 1 2 1995 Resolution No. 95- 66 WHEREAS, MCDI has already approved a loan to United Foods Corporation in the amount of $300,000 which is the maximum authorized under MCDI's guidelines; and WHEREAS, United Foods Corporation has requested an additional $200,000 loan from MCDI; and WHEREAS, said additional $200,000 loan is to be used towards the purchase of the property located at 1701 Northwest 7th Avenue, Miami, Florida, or of any other suitable site within the City's target areas for the purpose of establishing a chicken further processing plant; and WHEREAS, in consideration for said loan, MCDI shall hold a first mortgage on said property; and WHEREAS, the City Commission has directed that in the event that MCDI is unable to provide such a loan, the City shall work out a comparable solution; NOW, THEREFORE, BE IT RESOLVED BY THE COMMISSION OF THE CITY OF MIAMI, FLORIDA: Section 1. The recitals and findings contained in the Preamble to this Resolution are hereby adopted by reference thereto and incorporated herein as if fttlly set forth in this Section. Section 2. MCDI is hereby urged to lend $200,000 to United Foods Corporation for the purchase of the property located at 1701 Northwest 7th Avenue, Miami, Florida, or of any other suitable site within the City's target areas for the 95- ss -2- establishment of a chicken further processing plant, said loan to be in addition to the $300,000 previously approved by MCDT for said purpose and with the proviso that there shall be a moratorium on the payment of the principal for the initial six month period or until a Certificate of Occupancy is issued for property, whichever occurs first. Section 3. MCDT is hereby urged to execute any documents necessary for said purpose. Section 4. In the event that MCDT is unable to provide such a loan, the City Manager is hereby authorizedI/ to take all steps necessary to provide a loan, fully collateralized by a first mortgage at an interest rate of eight percent (8%) per annum, in the amount of $200,000, for United Foods Corporation and to execute the necessary documents, in a form acceptable to the City Attorney, to implement said loan. Section 5. In the event that said loan is not utilized in its entirety for the purchase of the property, all remaining funds shall be utilized by United Foods Corporation as working capital. Section 6. This Resolution shall become effective immediately upon its adoption. The herein authorization is further subject to compliance with all requirements that may be imposed by the City Attorney, including but not limited to, those prescribed by applicable City Charter and Code provisions. 95-- 66 -3- m ME PASSED AND ADOPTED this �12th AT00.40e- iiA­T�TY • HIRAI, CITY CLERK PREPARED AND APPROVED BY: IRMA M. ABELLA ASSISTANT CITY ATTORNEY ZP JanuaryHEN P. CLARK, MAYOR APPROVED AS TO FORM AND CORRECTNESS: A. QU NN 0 ES, II CITY T EY M4874/IMA/bjr/bss 95- 66 -4- r-: C) ` • f { FY fr �J � U � t12 -' s ITEM 55 �y ram PLEASE, CHANGE RESOLUTION TO READ: " 1701 rT.W. 7th Ave" Site , to add. - OR ANY SUITABLE SITE WITI-'IN THE CITY' S TARGET AREAS Instead of "FULLY COL-T ,ATERII'IZED" to: Collaterilized by First Mortgage, Reason- borrower may have to obtain a 2nd Mortgage in order to raise additional Working capital 3. - VERY Il��IPORTANT - provide a SIX (6 r10N2� MORATORIUM OR MORATORIUM UNTIL C. 0. IS OBTAINED E! d .r4 Cy- }3 M•I . A'I • h�i u u o;' Yi l.J V 1 Y qt W �i M a ITEM 55 PLEASE, CHANGE RESOLUTION TO READ:' ATE " 1701 N.W. 7th Ave" Site , to add. - OR ANY SUITABLE SITE JAJIT[iIN THE CITY' S TARGET AREAS Instead of "FULLY COLIATERILIZED" to: Collaterilized by First Mortgage, Reason: borrower may have to obtain a 2nd Mortgage in order to raise additional working capital 3.- VERY IMPORTANT To provide a SIX ( 6 } MONTH MORATORIUM OR MORATORIUM UNTIL C. 0. IS OBTAINED. 0 CITY OF MIAMI, FLORIDA 55 INTER -OFFICE MEMORANDUM TO : Honorable Mayor and Members DATE December 29, 1994 FILE of the City Commission SUEUECT : A _ United Foods Corp. FROM : / I /,\ // . V I J / REFERENCES: ENCLOSURES: MCDI LoanPackage Pursuant to the resolution adopted by the International Trade Board on September 13, 1994 (attached), a loan package request for $500,000 was presented to Miami Capital Development, Inc. (MCDI). Due to MCDI's lending restrictions, only $300,000 were approved, as follows: $75,000 for working capital and $225,000 for equipment. In order to complete the deal, it is hereby requested that the City Commission authorize MCDI to lend an additional $200,000 towards the purchase of the building, securing said additional loan with a first mortgage position. United Foods Corporation principals have over twenty-five (25) years of experience in the business and have been able to negotiate a contract with Intermili Corp. to purchase 50% of the production (see package). The building in question is located at 1701 NW 7th Avenue (Allapattah target area, adjacent to Overtown). The initial number of jobs to be created will be thirty-four (34). Owner will inject approximately $150,000 of their own money towards the refurbishing and remodeling of the building. 95- 66 SS-/ CITY OF MIAMI, FLORIDA INTER -OFFICE MEMORANDUM TO: Cesar Odlo DATE : 12/29/94 FILE City Manager SUBJECT ; United Foods Corp. FROM :tilICK"VA REFERENCES: MCDI Loan Package, "��"�' " ""�•. ITB Resolution ENCLOSURES: Attached Enclosed please find ITB resolution dated September 13, 1994, loan package and memorandum, all of which are self-explanatory. Please include in the City Commission agenda of January 12, 1995, under ITB and Community Development. 95- 66 3 CITY OF MIAMI INTERNATIONAL TRADE BOARD RESOLUTION A RESOLUTION RECOMMENDING TO MIAMI CAPITAL DEVELOPMENT, INC. AND THE CITY OF MIAMI COMMISSION APPROVAL OF UNITED FOODS CORP. IS $500,000 LOAN PACKAGE FOR THE ESTABLISHMENT OF A FURTHER CHICKEN PROCESSING PLANT. WHEREAS, the City of Miami Commission has entrusted the City of Miami International Trade Board (ITB) with the task of promoting international trade and investment within the City of Miami; and WHEREAS, in furtherance of this obligation the ITB, in formulating and implementing international business development, supports the above -mentioned project as a vehicle of economic revitalization and job creation; and WHEREAS, at the September 13, 1994, meeting of the ITB, the Board, in its entirety, approved and supported this project as an official ITB project. NOW, THEREFORE, BE IT RESOLVED BY THE INTERNATIONAL TRADE BOARD: That United Foods Corp. Is loan package, in its entirety, be approved by Miami Capital Development, Inc. and the Commission of the City of Miami, FLorida, in a form acceptable to the City Manager. PASSED AND ADOPTED this 13th da o S pte r, 19 4. t�1 ommissioner Vic H. De Yurre Chairman . 95- 66 Is UNITED FOODS, INC. 1701 H. W. 7th Avenue Miami, Florida Allapattah - (CITY) Loan : $ 500,000.00 .Hispanic Term : F/A-S400M-7 years Jobs (C) 34 W/C-*100M-5 years Start -Up Rate : 8.50% Poultry Further Processing Plant Pymt : $6, 335. &62, 052. RR -'65 Collateral: UCC-1 on all corp.' assets 8306M 2nd Mortg. Comm. R/E. $loom Pero Gty Mr & Mrs A Fdez. Pere Gty Mr & Mrs a Frumer PURPOSE: o $300M Equipment acquisition, S100M Leasehold improvements and, S100M Working capital loan. HISTORY- Business: ti o Start-up of a poultry further processing plant. o United Foods Inc., was incorporated in the state of Florida on July 7, 1994 for the purpose of establishing a poultry further processing plant. o The poultry further processing industry has received a great deal of attention, not only by the consumers of its products, but by the food industry itself. There has been substantial advances in the technology involved. For example, it is very possible to, have a hot-dog and not really notice if it was made with pork, beef, chicken or turkey. This example is also true today with sausages, and even a variety of hams. Not only health conscious consumers are taking advantage of the new products in the market, the traditional consumers of pork and beef products are finding little difference between them. o United Foods Inc., (UFI) has been conceived to participate in the further processed poultry segment of the kosher and non -kosher markets in the United States of America. 95- 66 1 UFI Page - 2 o For the past eighteen months, UFI has been developing a wide variety, of kosher formulations in a related further processing plant in the Dominican Republic. The main concept behind this research project was to develop a kosher production. system that would produce a wide variety'of kosher products for a specific customer under private label. This customer, who is a large importer and distributor of kosher products in Israel from' the U.S., has pre -approved .the quality and prices of our products and will be ready to start purchasing from. us as soon as the plant opens in Miami. o Due to the company's technological advances (obtained by the purchasing of technology from its related company in the Dominican Republic), UFI has also successfully contacted non -kosher institutional customers in the Miami area that are interested in its products and its prices. Most of these non kosher customers are from the local institutional market. The Product: o UFI has been able to develop a product line of more than fifteen products that compete very aggressively in the poultry further processed kosher and non -kosher markets. UFI is technically ready to successfully produce, at low costs, processed products such as hams, salamis, frankfurters and sausages using spent fowl and chicken parts as its main raw material. o The basis of this technological edge is that the company is able to produce high value added products using low cost raw material. • The Management Team: o UFI believes that the most important element supporting the feasibility of its proposed program is the strength and proven ability of its management team. Perhaps more important than the individual competence of team members is their demonstrated ability to work effectively as a team. Over the last three years, their significant efforts was required of each of them, created the necessary infrastructure that allowed them to successfully participate in the Dominican Republic poultry further processed market. o Based on the above. mentioned philosophy, UFI's organizational structure"is attached. 95- 66 UFI Page - 3 o UFI's Board of Directors is as follows: Alberto Fernandez de Castro, President Mr. Fernandez de Castro holds an MS degree in law. His experience includes more than 25 years in . the •poultry industry as head of "Avicola Nacional, CxA" and "Granja Productora de Aves CxA". Under his management as President of "Granja Productora de Aves, CxA", he has increased his company's- market share to .more than 50% of the layer producing market in the Dominican Republic. In addition, he has served for the last five years as Chairman of the Board of Directors of Embutidos Del Valle, the largest poultry further processing operation in the Dominican Republic. o He -is also a current - member of the National Animal Production Council of D.R. o Mr. Fernandez de Castro will be relocating himself to the United States as Chairman of the Boards and CEO of UFI in order to structure the necessary financial, marketing, and production requirements of the project. Rafael Fernandez de Castro, VP Marketing o Mr. Fernandez de Castro, age 30, holds a technical degree in Electrical Engineering. From 198G to. 1990, he founded a corporation, together with Cargill, to participate in the Dominican Republic's grain market. Within the first eighteen months his company had obtained more than 40% of the market. Furthermore, he has served as marketing director for more than four years at "Embutidos Del Valle" and has a thorough understanding of the poultry producing corporations as well as the National and International poultry markets. o Israel Frumer Mr. Frumer, President and owner of Intermili, Inc., a large distributor of imported Israeli food products - has forged a permanent place for fine, pre-cooked high -quality kosher products, located in Teaneck, New Jersey. Mr. Frumer is the third partner in this venture. His role is to oversee the kosher manufacturing end and introducing same coast -to -coast thru Intermili, Inc. o Mr. Alberto Fernandez de Castro shows very limited personal credit since he is currently living in Santo Domingo, however, he has included copies of previous properties which he owned while living in the United States and which have subsequently been sold. ' o Mr. Rafael Fernandez de Castro a U.S. born citizen, has no personal credit since he's lived abroad most of his live. 95r 66 1 is UFI Page - 4 o Mr. Israel Frumer has a good CBI Report, even though he's showing a Judgement in the amount of 01,885 which was recorded in January/94. FINANCIAL ANALYSIS: o MCDI was.provided with Mr. Alberto Fernandez and Mr. Israel Frt.-mer!.s Personal Financial Statement. As well as Personal Tax -Returns for the years 1991 - 1993. A twelve month as well as -a four year Cash-Flow/Income Statement projection was also provided for our review. o First year sales of $1,409M are projected, with Cost of Goods of $589M or 41.8% and General & Administrative expenses of 9672M or 47.7%, showing a conservative Net Income ( B/T ) of 832M or 2. 26% of sales. o One year cash -flow statement shows a positive $80.5M net cumulative cash. o The following four years show the same gross sales of 51,982M and CGS of e828M. The only change reflected is in General & Administrative expenses which tend to increase on a yearly -basis. o It is anticipated that the company should have a strong fifth year cumulative cash -flow position of $881M. o Even though projections seem over -realistic, analyst feels that if proper management control of operations is achieved, the potential sales of this industry could surpass the projected figures. SOURCES & USES OF FUNDS: Sources of Funds Uses of Funds MCDI - $ 306,162. 48% Equipment Acquisition MCDI - 90,000. 14% Leasehold Improvements MCDI - 100,000. 16% Working Capital s OWNER- 50,000. 8% Commercial Real Estate TOTAL $';'b62. 95- 66 UFI Page - 5 -COLLATERAL: o MCDI will secure this loan.with the following collateral offered: 1st lien on all corporate assets acquired S 306M 2nd mortgage on Commercial R/E acquisition located at 1701 N. Wi, 7th Ave. Miami, Fl. Property has to appraise above $300M and have equity of not less than S86k 86M 5 392M Ultd. personal gty. of Mr. & Mrs. Fdez. 781M Ultd. Personal gty. of Mr. & Mrs. Frumer 756M Total $1, 929M RECOMMENDATION: o Recommend loan to be approved as follows: o Reduce loan amount to S300M to cover equipment acquisition in the amount of $225M and having the borrowers inject their monies to acquire the difference, a working capital loan in the amount of S75M to cover initial start-up expenses and inventory. o This loan has a positive impact in establishing a new operation within the confinements of the City of Miami's Allapattah target area which promises to produce 34 new jobs once business is operating at full capacity. Good management expertise in the poultry further processing business. Recommended by: Luis G. Cuervo, Senior Lending Officer`\_�1 Tony E. Crapp, Sr., Executive Director qd. December 14, 1994 - 95- 66 - /l UNITED FOODS, INC. LOAN -REQUEST SUPPORTING DOCUMENTATION (1) CBI CREDIT HISTORY (2) PROFIT & LOSS STATEMENT (PROFORMA) (3) EQUIPMENT PURCHASE ORDER (LIST (4) TAX ASSESSMENT (5) CASH FLOW PROJECTIONS y (6) SPREAD SHEETS (7) ADDITIONAL INFORMATION (A) PERSONAL FINANCIAL STATEMENT (B) PERSONAL INCOME TAXES (C) PERSONAL RESUME (D) PURCHASE CONTRACT YES NO XX XX XX XX XX XX XX XX XX XX NOTE: Item 3 supporting documentation will be provided on P.O. of S50M or more. 95- 66 �y "APPROPRIATE" DETERMINATION REGARDING FEDERAL FINANCIAL ASSISTANCE TO A'FOR-PROFIT BUSINESS Part I.: Business Information Name of Borrower: United Foods, Inc. Business Telephone: (305) 381-7717.. Owner's Name & Title: Alberto Fernandez de Castro Type of Business/SIC Code: Poultry Further Processing Plant Years in Business: Start -Up Form of Business Legal Structure: Corporation (e.g. Corporation, Partnership, Sole Proprietor, etc.) Part II.: Loan Information Target Area: Allapattah Loan Amount: $500,000. Ethnicity Race of Business Owner: Other (Chinese) Term: 5/7 years # Jobs to Be Created: 34 Interest Rate: 8.50% # Jobs to be Preserved: 0 Month Payment : $6, 335. $2, 052. Collateral Description: - lat Lien on all corporate assets - 2nd Mortgage on Comm. R/E. acquisition - Personal Guaranty Mr. & Mrs. Fernandez de Castro - Personal Guaranty Mr. & Mrs. Israel Frumer Detailed Description of Loan Purpose:_$300M Equipment acquisition $100M_Leaehold improvement and $100M Working capital loan Page 1 of 5 9 5` .66 I 0 Part IIIt Appropriate Determinations . Section A. Financial Need Assessment (1) Type of Project Being Assisted (Select One) Real Estate Development (e.g: hotel, office building, shopping center, etc.). X User Project (e.g. construction of or an addition to an industrial or commercial facility, the purchase of equipment, or the use of working capital). Hybid Project (e.g. company creates a subsidiary or independent utility to build and own a facility which the company leases). (2) Business Financial Data Reviewed and Analyzed in making Determinations regarding National Objectives and Eligibility. (Check All That Apply) X CBI Personal Credit Report on Borrower's Principals and Guarantors X Borrower's Profit and Loss Statement projected for at least five (5) years. Current Appraisal (not older than 6 months) or Official Statement of Tax Assessed value for all real estate pledged as collateral. Estoppel letters verifying the outstanding debt on pledged real properties. Loan Analysis Spread -Sheets (3 year Analysis for Existing Business) (1) Financial Analysis (2) Balance Sheet (3) Income Statement (4) Funds Flow Statement X Monthly Cash Flow Projection for at least 2 years. iv X Personal Financial Statements and supporting bank statements of Borrower's Principals and Guarantors not more than ninety 190) days old. X Detailed budget for use of loan proceeds with supporting documentation and executed by the borrower(s). (1)­Working Capital- (2) _Fixed Assets X Personal and Corporate' Income Tax Returns for most recent fiscal/calendar year. Borrower's interim financial statements (e.g. Profit and Loss, and Balance Sheet) and supporting bank statements not more than ninety (90) days old and executed by the borrower(s) or an accounting professional. Borrower's year-end financial statements for the most recent fiscal year executed by the borrower(s) or an accounting professional. Please note that, with the exception of Subchapter "S" companies, the year-end statements must reflect the "after-tax" financial condition of the corporation. ti X Loan Denial Letters and Credit Applications from one (1) Bank. X Business Plan for Compliance with Job Creation Goals and First Source Hiring Requirements. Comparative Industry Financial Standards from Robert Morris Associates or other authoritative Source. Aging of account receivables Credit Explanation Letters Letters of Reference or Intent to do Business Market Study X Business Plan Lease Agreement or Letter of Intent to Lease Other Sources (Please Indicate) Comm. R/E Purchase Contract. 95- 66 /f Page 3 of 5 0 Section B. National Objective Determination - (Specify The National Objective Being Met By The Proposed Financial Assistance) (Select One) X 1. Principally benefits low and moderate income persons by creating or retaining jobs, 51% of which are for i low and moderate income persons. lb 2. Aids in the prevention or elimination of slums or blight on an area basis. 3. Meets community development needs having a particular urgency. Section C. Determinations Regarding Eligibility for Financial Assistance (All Determinations Must Be Fully Documented With a Supporting Financial Analysis and Detailed Explanation Attached - Note that all 3 areas of Determination must be marked) X (1)" The financial assistance is "appropriate" to carry out the economic development project based upon (a) the reasonableness of proposed project costs, (b) the firm commitment and availability of all other sources of funds, (c) no substitution of federal funds for private debt financing or equity capital, (d) the establishment of financing terms which are sufficient to allow the project to go forward without substituting federal funds for available private debt or cash equity, and (e) an assessment of the expected public benefit of the project balanced against the risk of the project and the effect on public benefit if the project fails. X (2) The financial assistance minimizes business and job displacement. (3) The economic development project consists of activities that do one or more of the following: (Identify all that apply) X (a) creates or retains jobs for low and moderate income persons (b) prevents or eliminates slums and blight Page 4 of 5 95_ 66 (c) meets urgent.needs (d) creates —or retains businesses owned by community residents (e) assists businesses that provide goods or services needed by and affordable to low and moderate.income residents (f) provides . technical , assistance to.,.promote any .of the activities under (a) through (e) Prepared By: Luis ~G. • Cuervo (Name) Date:December 14, 1994 Revised: May, 1992 Page 5 of 5 Sr. Lending Off. (Title) Justification Memo to -Support the Determination Regarding the Eligibility of Recommended Financial' Assistance to UNITED FOODS, INC. The level -of 'financial essi"stance- which is recommended for this for -profit business entity has been determined to be 'appropriate" to carry out the economic development project based upon ( a ) " an—' assessment' of the' 'ekpected public benefit of the project's anticipated creation of four to six (34) jobs balanced against the risk of the project and the effect on public benefit if the project fails, (b) based on an analysis of the cash -flow projections for this project, public financial assistance in the amount of $500,000.00 at an interest rate of 8.50% will generate a repayment ability which will not result in an excessive rate of return or level of profits for the assisted for -profit entity when compared to industry standards,_.(c) the proposed federal financial assistance will not substitute for private capital based on credit denial letter from, Total Bank, which document the business lack of access to conventional private financing, The recommended level of public financial assistance will create (34) jobs which will principally benefit low and moderate income persons. The public financial investment per each job created is $14,706. This ratio compares favorable to the public benefit goal of one ( 1 ) job created for every 815, 000/$30, 000 of public financial assistance. The recommended financial assistance to this company Will not result in any business or job displacement. Prepared by: Luis G. Cuervo Sr. Lending Officer Name Title Date: December 14, 1994 1 95- 66 11 (C )PLEASE SIGN-aN -98J - PRIICEED 006 HM-FERNRNDEZ DE CRSTRQ,RLBEETQ'sps• CA-17179N BOYSHMORE,DR, MIflMI, FL, 33131. w. ID-SSS 262-Y4-Q166,AGE-59v 002 E,QUIFRX CREVrr INFQRMRTrati SEwrCES, P Q BMX 74OZ419, 5505 fEIRCfTREE DUNWIIMDY RD STE 600, flTLflNTfl, 6R, 30374-0241, 404e612-2585 *FERMf WiHEZ,RLBERTM.G SINCE 02l01s87 FRII 08,f03�9* FH-703 35089Sid 26TN, ST, MIAMI, FL, 33133, TfWE . RPTD 04,e91 2'531, sw 1 i3T", CT, mrmr, FL, 33126,.TRPE *.RPTB i t.,SO 47111N W 6TH,ST 5,MIAMI,FFL,331267TAPE RPTD 04�88 +StiitFi? 66 n � Cfl ,277, flSHv ST, EHGLEW®D t `FFS, NJ, 07632. ID SSS-tI$-48-fl583,� ,. ♦ 013 ECIUIFftx CREDIT IMFQRp Trm SERSfICES, P II RMC 74OP-41, 5505 PEACHTREE DUNkM[IDY RD STE 6007flTLflNTA,GR930374-0241,404--612-E5B5 +FRUMERy ISRREL SINCE 06-'22/74 FHB 08,r25i94 FN-322 B 277 AS, RT ASH ST, , EHGLEWIIOD CLIFFS, NJ, 07632, TOPE RPTD 02r92 277, FMrST, EM6LERd W CLIFFS, NJ, 07632, l RPE RPTII 10/86 277, ASH, ST, EN61 Et, = CLIFFS, NJ 606* 1'Fl ffl -FRU. lMM, ISRfE_*+*4o BDS-10-100Z357SSS-118-40- 0583 -..... INTERMILL INC, TERfiECK,NJ - ...;.: 02 EF-7X: 03 E2-,CBDE *SUM-83/67 12/94; PR/01 YES, FB-NEI, , RCCTS: 33, HC$0-265K, .1 ZERQ, 29-QNES, •3-QTHERS ♦�++� PUBLIC RECQRDS aR QTHER. ImFE RMRTIQM ++++++ 04 01--94♦JUD67444YC228, S1885, ISRREL9 927022247 WRTERS PC PHERSM tic NO LL P . . *INQS--RMEX ISEEI ( - OF REFURT EQUIFflX AND WFILIRTES - 12.113,194 95- 66 j�2-1 007 NM-FRUMER, RY I OF lv s v C{{-277vfMj-ST,EMGLEWI]OD CLIFFS, NJ, 07632. ID- A6E-55. ♦ 013 EQUIFFI CREDIT INFOID RMFiTN SERirICES, P Q BOX 740241, 5505 f)ERDHTREE DUNWOODY RD STE 600,, RTLHNTA, GA, 30374-0241,,404z612-2585,:.,: +FRUME•R 'BYIYR SINCE 03e1�8V FRD 06.e27/94 FN 3I3 . , r.�:I i BOX 1911,03,,FURT LEE, MJ, 07024,TflPE RPTD 10e92 277,ASH,ST, Qf6i-ELI DD CLIFFS, MJ, OI63z ,•. , f ,.� : ;' `�_+" MDS-07i84e39;SSS-127 ES ; INTERPIL I y `; 0Z , IMTSR MIMLI, TERNECK;N.j +SUM-03,r67 10-494•rPR,,FiI-MtI,FB-NQ, ACCTS=29,HC$0-265K3, 1 ZERD,` 26-0<ES, 2-FITME RS.-, *IHW- 95- 66 END OF flEPUI T EQUIf=fIX fWD PFFILIflTES -- 11i08,f94 i i 9- 66 - �3 A � � V4I1J.L4fti &#4WV#fA.UJJ11!«{.f Lllr"Lk _.jlication For BUSINESS L0, Business Plan for Compliance with Job Creation Goals and First Source Hiring Requirements Part I. Summary Data Name of -Company: UNITED FOODS CORPORATION Business Address: 1717 N.BAYSHORE DR., SUITE#2157, MIAMI .FLA.33.132, ,:.., Worksite,vkddress: 170.1. N.W. 7 AVE. MIAMI; FLORIDA._.:, (If Different From Business Address) Type of .Business: POULTRY FURTHER PROCESSING Contact'Person(s)s ALBERTO FERNANDEZ _ Telephone No.: 305-381-7717f,:.: Total Number Full-time & Permanent Employees at Present: (A) N/A Total Number Full-time & Permanent Employees ~!� Projected after 2 years if loan is approved: (B) 34 Total Number Jobs Projected to be Created within 2 yrs. 34 of Loan approval (B-A): (C) Part II. List of Current Employees 4 (Please Use An Additional Sheet of Paper, If Necessary) (1) (2) (3) (4) (5) (6) Annual Reg. #� Name of Social Family Family Job Work Hrs. Employee Security Size Income Title Per Week N/A 95- 66 Page 1 of 3 • , Pa*^t :III. Liet of Vaoant •. ',',one r (Please Use An Additional Sheet of Paper, If Necessary) (1) (2) (3) (4) (5) (6) Humber Number . Number Projected Positions Positions 8 Hourly Job Title Positions Miring Date Full -Time Part -Time' a' te' SEE EXHIBIT • ..r • N Part IV. P__rolected Job Creat (Please Use An Additional Sheet of Paper,, If Necessary) (A)..List of Jobs to be Created (1) (2)- (3) (4) (5) (6) Number Number Number Projected Positions Positions S Hourly Job Title Positions, miring Date Full -Time Part -Time I!ay Rate SEE EXHIBIT . It M Skill/Training Requirements for Created Jobs (Please Use An Additional Sheet of Paper, If Necessary) (1) (2) (3) (4) (5) Type No. Years Job of Test Education License(s) Experience Title Required Required Required Required SEE EXHIBIT (6) Other Require- ments 6 95— 66 . - nod Ps, � -V. GomQ3�,.hI1Qt�G��4.D._•Prl '� Please describe the actions which will be taken by the business to ensure that low & moderate income persons will receive first consideration for the, jobs to be...created in compliance with the requirements of the U.S. Department of Housing & Urban Development, and/or the 'City of Miami's First Source Hiring --Ordinances Given the nature of our labor intensive operations, the philosophy of our firm is to create a positive working environment within the surronding community. We intend to utilize the Citv's work programs. Homeless Trust, and agencies that abide by CMO-86-855. Part'VI4'Certifio®ti4n Statement I(We) are aware that the U.S. Department of Housing & Urban Development requires that businesses receiving financial assistance must make 51% of the jobs created as the result of such assistance available to low/moderate income persons and that the business must provide training for..any position requiring special skills or education. In addition I(we) are aware that the City of Miami's First Source Hiring Ordinance requires that every employment opportunity created through City of Miami funds must first be given to the unemployed and underemployed. More specifically, I(we)''understand that all jobs created as the result of contracts for facilities, services, and/or all receipts of grants and loans are subject to first being filled by participants in the City of Miami's training and employment programs, and/or thereafter by other residents of the City of Miami. I(We) certify that the information contained on this form is true and accurate. Business Name: UNITED FOODS CORPORATION By: (Printed Name) PRESIDENT (Title) Page 3 of 3 95- 10/19/94 (Date) 1 ❑ EXHIBIT VI -A -la (Appllcant) or ❑ EXHIBIT VI -A -lb (Other Party) OMB No. 0610-M3 FOAM ED412 U.S. DEPARTMENT OF COhNJERCE (ACV. s4" EOONOsslc DEVELOPMENT ADMINr3TMTgN CURRENT AND PROJECTED EMPLOYEE DATA �q t. Nanm end aderew d arrtarwn 2. Thn spat is. • O ww.NoAnIwlFottovr OP N 1-40uired �~ rarnk"41.1• O Partial. Arxsrai Falois�up is W*ed. CvffOele M O Annual Follow-up. Completes herns1-9. EDA USE ONLV tai0n NITED FOODS CORPORATION Proled Na: loom pbrw NAft,OP. No. and Swom 1.717 N. BAYSHORE DR SUITE2157 2. Orob-Al"on is: O EDAApp+antorircpier Q E0A-Ot ' P'"�► . d *O w# PwV' ~ nw* d EDA or Reoplent cry � MIAMI Stain Zap Code FLORIDA 33132 4. First Impact Dam: s Futltr OperasoruilDow Job Calegorleamack •. Current Per caned Empbrees NEW BUSINESS T. New Permaneril Jon a. PermanwN Jobs To be Saved 9. Permarwa Empbtwsorm r1111p� Forst to, Perms wa Empayes wt pulhOpomewrW SEX Taal EMpior esa INN M N�ik Odph,( lwparik PA a b1ari0om ALMW Nrve ETOuI w'' sre jNol d lwwk a'a^) N lerprik 1 +« Palk bWder i ADr�rarrinn AInIWI of Na" K Tarpiaoe ERp►oTrriomn Piss l Taal Ewpbtw M TOW YrwMw N TAW EnBlgen O Tow WaiOsa P Tar Eeoior.r O Tar Yvon Officials and Managers F 1 1 M 5 Professionals F M Technicians F M Sales Workers F M Office and Clerical F � M Crahsperson (skilled) F M Operatives (semi -skilled) F M Laoorers (unskilled)-- F Service Work and others F 1 1 M TOTAL F M GRAND TOTAL II. Curren mmporary and pan-ww emploreu TOW Minoru ___ FemW IL Prgecmd mmpoary and pan•ime emp"S when lulp OpMabWW Total- Mrortiea Females 12. TM form prepared by: RAFAEL FERNANDEZ—STOCKHOLDER (809561-1121 T Name and Posleon Dam Tote No. 14. Name of Laba Market Area F� 0" recant : aaciit al'r'e" AgWI0" '"a°'« Nara %AwwasdapamabondAdal ALBERTO .FERNANDEZ=PRESIDENT Type Name and Tide tore Labor Force dArea Total % % % % • % UnemplormentofAtom Overall Ram: % % % % % x m sources01 labor marktidata* 1Ne ly~ worn of a►ar Domain Val 0e Wh011 sd Irber Mrs s»Oi+"1 iarwe Mrs upoml Y oaepiMl ane lave r reprae M «elly taw aril reOiArwr µ! U.S C ?eves 1. 4J u s c. 3121 a? u s c $?M E O 11M. Is c r.11 PM A 20 c F R pan 47.13cF.R pa43111 FORM ED-540 (Rev. 7/92) OMB Awoval Exokas Auoust 3 1. IM UNITED FOODS CORP. 1.0 INTANGIBLE ASSETS .90,000 0 90,000 i -FEASABILITY STUDY 0 15,000 -CONSULTING 0 25,000 TRANSFER OF TECNOLOGY i 0 50,000 ti 2.0 CONSTRUCTIONS 90,000 90,000 0 -REFURBISHING 90,000 0 3.0 MACHINERY 306,162 306,162 0 4.0 OTHER 0 0 0 5.0 INTEREST DURING SET-UP 0 0 0 B. WORKING CAPITAL 154,000 104,000 50,000 9�- 66�.. Monthly Profit 6 Loss Projections United Foods Inc. i 1 2 3 4 5 6 7 8 9 10 11 12 1 Totals I I REVENUE _.--------- ---------------------------------------------- ---------------- --------- I--------- I ---------I Cash Receipts I I I a. Net Sales 85,200 89,211 93,574 98,352 103,618 109,463 116,001 123,369 131,734 141,306 152,340 165,149 11,409,317 1 100,00%1 b. Cost of Goods 35,614 37,290 39,114 41,111 43,312 45,756 48,489 51,568 55,065 59,066 63,678 69,032 1 589,095 1 41.80%1 Gross Margin 491586 51,921 ------------------ 54,460 57,241 : 601306 ---------------------------------------------------------- 63,707 67,512 71,601 76,669 82,240 88,662 96,117 I ---------- I 1 820,222 I --------- I 58.20%I - f ------- ----- -._---- ------------------- -------------- -- ----------- ------- I---------- I------- Cash Paid Out r I I I Selling, Ads. i Gen. Exp. 43,703 49,978 50,900 51,931 53,092 --------------- 54,410 55,917 ------- -------------- 57,654 59,669 ------- 62,024 - 64,793 68,069 1 672,140 1 ---------- I 47,69%1 ---------I Operating Incoee 51883 11943 31568 51316 71214 9,297 11,595 ' 14,147 -- 17,000 20,216 23,869 '28,048 1 148,082 1 10.51%I Depreciation 8 Asort. 61603 _ 6t603' 6;603, 61603 6,603 6,603 61603 61603 61603 61603 61603 6,603 1 79,236 1 5.62%I Other Incoee (Expense) I I I Ineterst Expense 31125 31125 31125 3,125 ' 3,125 3,125 3,125 3,087 31050 31012 2,975 2,937 1 36,936 I 2.62%I --------------------------- ---------------------- I----------I---------I Net Incoee B/Taxes (31845) (71783) (61168) (4,418) (21514) (431) 1,867 4,457 7,347 10,601 14,291 18,508 1 31,910 1 2.26%1 UNITED FOODS.CORP. INCOME STATEMENT MONTH ESTIMATED GROWTH NET SALES 0 86,200 89,211 93,574 98,362 COST OF GOODS SOLD 0 -35,614 37,290. _ 39,114 41,111 GROSS MARGIN 0 . 49,586 51,921 54,460 57,241 SELLING, ADM.& GRAL. EXPENSES 0 43,703 49,978 60,900 61,931 OPERATING INCOME 0 6,884 1,942 3,560 5,309 DEPRECIATION & AMORT. 0 6,603 6,603 6,603 6,603 OTHER INCOME (EXPENSE) INTEREST EXPENSE 0 3,126 3,125 3,125 3,126 NET INCOMEVEFORE TAXES , CASH FLOW STATEMENT NET INCOME 0 (3,844) (7,785) (6,168) (4,418) DEPRECIATION & AMORT.. 0 6,603 6,603 6,603 6,603 TOTAL OPERATIONAL ti 0 2,759 (1,183) 435 2,184 INCREASE (DEC) RECEIVABLES 0 35,614 1,677 1,824 1,997 INCREASE (DEC) INVENTORY 0 50,000 1,475 1,605 1,757 INCREASE (DEC) OTHERS [TOTAL OPERATIONAL USES 0 85,614 3,152 3,429 3,764 pNCREASE (DEC) PAYABLES dNCREASE (DEC) ACCUM. EXP. TOTAL OPERATIONAL SOURCES rPERATIONAL CASH FLOW f IXED ASSETS DIVIDENDS S.T.DEBT AMORTIZATION LT.DEBT AMORTIZATION SET-UP COSTS TOTAL NON-OPERAT..USES COMMON STOCK SALES LONG TERM DEBT OTHERS IOTAL NON-OPERAT. SOURCES kET INCREASE (DEC) IN CASH iET CUM. CASH 0 0 0 0 0 0 82,855) (4,335) ,994 ,670 0 0 0 0 0 90,000 # 0 0 0 0 ###### 0 0 0 0 95- 66 3? UNITED FOODS CORP. INCOME STATEMENT MONTH 5 0 ESTIMATED GROWTH NET SALES ; . 103,618 : 109,463 116,001 ,7123;369., COST OF, GOODS SOLD 43,312 , 45,766 48,489 GROSS MARGIN 60,305 63, 08 67,613,80 55,917 .•, ., SELLING, ADM.& GRAL. EXPENSES 63,092 64,410 OPERATING INCOME , 3, 9,297 11,995 -- ; . , 46.,,, DEPRECIATION & AMORT. 6,603 6,603 .. 6,603 OTHER INCOME (EXPENSE) INTEREST EXPENSE 3,125 3,126 3,126, •3,087..,, NET INCOME BEFORE TAXES ,615) (430) 1,868.. ' CASH FLOW STATEMENT NET INCOME (2,615) (430) 1,868 4,456 DEPRECIATION & AMORT. 6,603 6,603 6,603 6,603 TOTAL OPERATIONAL 1 4,088 6,172 8,470 11,059 INCREASE (DEC) RECEIVABLES 2,201 2,444 2,733 3,080 INCREASE (DEC) INVENTORY 1,937 2,150 2,406 2,710 INCREASE(DEC)OTHERS TOTAL OPERATIONAL USES 4,138 4,594 6,138 5,790 INCREASE(DEC)PAYABLES INCREASE (DEC) ACCUM. EXP. TOTAL OPERATIONAL SOURCES OPERATIONAL CASH FLOW FIXED ASSETS DIVIDENDS S.T.DEBT AMORTIZATION L.T.DEBT AMORTIZATION SET-UP COSTS TOTAL NON-OPERAT. USES COMMON STOCK SALES LONG TERM DEBT OTHERS TOTAL NON-OPERAT. SOURCES NET INCREASE (DEC) IN CASH NET CUM. CASH 33 0 0 0 0 5 1,679 3,333 6,269 0 0 6,003 6,003 0 0 6,003 6,003 0 0 0 0 95- 66 UNITED FOODS CORP. INCOME STATEMENT 10 11.. •.�' , ESTIMATED GROWTH NETSALES ''' `�' 1311734 141,306 162,340 COS` OF.GOODS..SOL _.. r' _ 56,065 59,066 63;678 GROSS MARGIN '! ` `' 6,669 82,240 88,662 .zo• 96, •� �o�o, .Zz. SELLING, ADM.&.GRAD-.f-XPENSES . 59,669 . 62,024 64,793' 47G9' 68,069" OPERATING INCOME'- ,000 20,216 23,86 i.'.!W... ,0 DEPRECIATION & AMORT. 6,603 6,603 6,603 6,603 OTHER INCOME (EXPENSE) INTEREST EXPENSE.'3,060 N&INCOME BEFORE TAXES 7,347 CASH FLOW STATEMENT NET INCOME DEPRECIATION & AMORT. TOTAL OPERATIONAL INCREASE (DEC) RECEIVABLES INCREASE (DEC) INVENTORY INCREASE(DEC)OTHERS TOTAL OPERATIONAL USES INCREASE(DEC)PAYABLES INCREASE (DEC) ACCUM. EXP. TOTAL OPERATIONAL SOURCES OPERATIONAL CASH FLOW FIXED ASSETS DIVIDENDS S.T.DEBT AMORTIZATION L.T.DEBT AMORTIZATION SET-UP COSTS TOTAL NON-OPERAT. USES COMMON STOCK SALES LONG TERM DEBT OTHERS TOTAL NON-OPERAT. SOURCES NET INCREASE (DEC) IN CASH NET CUM. CASH 3,012 2,975 L 2,937 Ll (') I7 - • 2. 6 , a 1, 910 7,347 10,601 14,291 18;508 6,603 6,603 6,603 6,603 13,950 17,204 20,893 25,110 3,497 4,001 4,612 6,364 3,077 3,621 4,059 4,712 6,574 7,522 8,670 10,066 0 0 0 0 ,376 9,682 12,223 15,044 6,003 6,003 6,003 6,003 6,003 6,003 6,003 6,003 0 0 0 0 95- 66 3 q 0 UNITED FOODS CORP. INCOME STATEMENT YEAR ESTIMATED, GROWTH NET SALES, .. 1,981,786 1,981,786 COST OF GOODS SOLD 828,387 828,387 GROSS MARGIN, ,16 399 , 53,399 SELLING, ADM.& GRAL EXPENSES 831:924 `' 4840,229 OPERATING. INCOME 321,475 3 3, f70 DEPRECIATION & AMORT. . 79,232 79,232 OTHER INCOME (EXPENSE) INTEREST EXPENSE 37,050 36,600 NET INCOME BEFORE. TAXES :-•.. '='; :, CASH FLOW STATEMENT 1,981,786 1,981,786 828,387 = 828,387. 153,399 `1,163,399 848,949 7 �858,105 79,232 79,232 . 36,149 35,699 180j363 NET INCOME 205,193 197,339 189,069 180,363 DEPRECIATION & AMORT. 79,232 79,232 79,232 79,232 TOTAL OPERATIONAL - 284,425 276,571 268,301 259,696 INCREASE (DEC) RECEIVA" BLES 0 0 0 0 INCREASE (DEC) INVENTORY 0 0 0 0 INCREASE (DEC) OTHERS TOTAL OPERATIONAL USES 0 0 0 0 INCREASE (DEC) PAYABLES INCREASE (DEC) ACCUM. EXP. TOTAL OPERATIONAL SOURCES 0 0 0 0 OPERATIONAL CASH FLOW 284,425 276,571 268,301 269,399. FIXED ASSETS DIVIDENDS S.T.DEBT AMORTIZATION L.T.DEBT AMORTIZATION 72,036 72,036 72,036 72,036 SET-UP COSTS TOTAL NON-OPERAT. USES 72,036 72,036 72,036 72j039 COMMON STOCK SALES LONG TERM DEBT OTHERS TOTAL NON-OPERAT. SOURCES NET INCREASE (DEC) IN CASH NET CUM. CASH 95- 66 PAG. 4 Mr.. Vela is also a member of the Board of Directors of "Banco de Desarrollo Intercontinental" (one of the largest development banks in the Dominican Republic). 3 Market Research and Analysis According to the latest market study provided by G.S. Schwartz & Co., the U.S. kosher food industry is growing at an annual rate of 16%, with current sales at $33 billion. There are presently some 26,000 food"products that have become formally certified as kosher, with more thari-1,000 ' -additional products receiving certification every year. By the end of this decade, experts believe -" that 50% of all prepared food products will be kosher. The main -reason is -the perception�of extra quality:that the kosher symbol transmits to the general public. In addition, gourmet 'food ' manufacturers are seeing gaining certification as a way to new markets and increased sales. In addition to the constant growing kosher market, the non -kosher poultry market in the U:S. has also grown tremendously in recent years. For the first time ever, in 1993 poultry consumption surpassed all other meats in the national market. Due to the constant medical studies published about the fat hazards in our daily diets, poultry has become the number one alternative in health conscious consumers. 4 Marketing Plan To minimize market risks, the company will be participating in two basic markets: kosher and non -kosher. •" Due to the distributing agreements reached by UFC for its kosher line, kosher products will be considered to be the plants main product line. But in addition, the company has also been approved by the kosher certification entity to produce non -kosher poultry products for the local market. 4.1 Sales Plan UFC's main sales forecast is in the kosher poultry further processed market. The company has already been approached by a national distributor of kosher products to produce a wide variety of products under private label. Since the orders for -this specific client will compromise more than 60% of UFC's production capacity, the company is studying (by the clients request), a future partnership arrangement with the president of this kosher distribution company: Mr. Israel Frumer of INTERMILI Corp. Regarding the local non -kosher market, UFC's sales force will consist of two local sales representatives assigned to specific sales territories . Each sales representative is required to visit at least 20 clients per day, with a minimum standard effectiveness of 50%. 4.2 Distribution To effectively support the sales agreement for the kosher market, the company will deliver its products once a week. In respect to the sales representatives division, UFC will require additional refrigerated vehicles (within 90 days of start-up) to improve its forecasted delivery time from 48 hrs. to 24 hrs. 95- 66 4.3 Service UFC believes that proper attention to service will enhance market penetration to a degree that pricing would never accomplish alone. An initial step in providing good service is UFC's recently completed study 'of inventory requirements: This 'study identified all the materials that, are required to have a satisfactory response time to predicted customer. demand. 5 Design And Development Plans UFC's product lines are designed under USDA supervision and will inotrequire extension. of. any state of the art technology. The present forecasted' production capacity 'and its corresponding . , :•, ;, development plans are sufficient to supply the target market participation. In regard to product testing and approvals, tests are presently being conducted in the Dominican Republic to assure product quality and future kosher certification. 6 Risks As with any venture, there are risks in UFC's plans. Recognition of these risks, evaluation of their severity, and proper contingency planning for their possible occurrences have been considered in UFC's planning. " While the following discussion of specific risks is not intended to be all-inclusive, it is. felt to cover those of significant possible impact. Risks are not listed in order of probability of occurrence or of degree of possible impact. 6.1 Price Cutting by Competitors Evaluation: With a registered market growth of 15% for the kosher market and 10% for the non - kosher further processing markets for years 1992 and 1993 respectively, the market will absorb everyone's production capacity for the next few years. Due to its technological advantage, UFC is able to be price competitive with any of its competitors. Historically, existing manufacturers have not responded to competition with price cuts. Contingency: Financial planning included generous contingencies in unit costs. If costs are close to present estimates, UFC has immediate ability to reduce its prices and remain profitable. 6.2 Changes in Prices For Raw Materials Evaluation: Future economic globalization will eventually allow UFC to purchase lower cost raw materials. Contingency: By purchasing low cost raw materials, UFC will be able to maintain its comfortable price margin advantage of more than 30 percent, enabling it to compete with lower priced products in the future. 6.3 Costs Estimates Exceeded by Manufacturing Evaluation: UFC's innovative technology has placed the company in a tremendous cost efficient position. The company has been able to develop a further processing technique that enables it to �� 95- 66 utilize low cost proteins of spent fowl and dark chicken meat to produce high value added products. Contingency: In' financials,•:10 _.percent was added to, material cost estimates and only one production shift was considered for the:allocation.of indirect costs. 6.4 Machinery Breakdown Evaluation: This is considered a lowAskitem since UFC's machinery. Even though the majority of the company's -equipment will be,:purchased •"Used.in.,good operating condition", it will be guaranteed. The equipment to be purchased will have ,to, be.-.-pre-approved by highly trained professionals in the maintenance area. Contingency: Maintenance has a high priority in the company. To successfully provide the required maintenance, the company will hire a highly regarded firm that has been in business for many years. 6.5 Sales ForecastNot Achieved Evaluation: Analysis shows a low breakeven level in respect to plants production capacity. In addition, some fixed costs can be delayed to reduce further the breakeven point if sales are falling well below forecast. Contingency: Procurements will be committed for lower level production volumes than forecast, but at forecast rate. 6.6 Economic Downturn Evaluation: For the past year, the American economy has been considered stable. In regard to our market study, a continued growth in our sector is to be expected. Contingency: The company's strategy is to obtain, as soon as possible, its target market share. Hence, the higher volume will compensate any unforeseeable economic downturn. 6.7 Scarcity of Raw Materials Evaluation: Due to the high consumption of chicken meat in the national and international markets, experts agree on a steady growth in poultry production. Hence, the price and availability of spent fowl and chicken parts is expected to be in the company's advantage. Contingency: In case of a market collapse due to increasing exports (mainly to Russia), history shows that production will increase accordingly. 7. Production System, Product Mix, and Product Yields UFC's production system was purchased from Embutidos Del Valle on a long term royalty agreement. It basically involves boning spent fowl to obtain seven types of meat. These meats are then processed individually and cured with special (USDA) curing agents. After several hours (in some cases days), these meats are mixed in different proportions and further processed to 39 obtain a wide variety of poultry products. 95' 66 UFC's product mix is divided In two In categories: Kosher f Cutlets Nuggets Hamburgers Breakfast Sausages Smoked Sausages Breast Rolls Meat Balls Non * 4,fher Hot -Dogs Sausages Breast Hams Nuggets Meat Balls Concerning prices and yields, our combination of kosher products have an average selling price of US$2.05 at about 25% discount in respect to its standard market prices. The forecasted production yield 'is -88d pounds of finished product for every 1,000 pounds of frozen spent fowl. For the non -kosher market, the average selling price of our product mix is US$1.20 at about 10% discount In respect to the local competition. The forecasted production yields is 840 pounds of finished product for every 1,000 pounds of frozen spent fowl. 8 Job Creation Goals (Start-up and Year 1) ( See Charts) 9 Financial Proposal ti The purpose of this Business Plan is to support UFC's application for a loan of US$500,000.00 from Miami Capital Development Inc., that will be requiered to finance the investment in the following items: New Plant 90,000 Equipment 306,000 Working Capital 104,000 Total 600,000 We request the terms for the repayments of these funds to be as follows: Interest Monthly Payments Total Capital 6 month grace period. New Plant 12 years Equipment 7 years Working Capital: 5 years 10 Projected Cash Flow ( See Enclosed ) 3 � 95- 66 ISTART-UP BOARD OF DIRECTORS CHIEF ERTCUTIVE OFFICER gENERAL MANAGER ` ADM. BASSIST. PRODUCTION MANAGER i ;-ACCOUNTANT SALESMAN (1) ! (1) SKILLED !. SKILLED DEBONING PROCESSING & PACKAGING ' f i i (6) (6) !SEMI-SKILLEDilSEMI-SKILLEDI UNSKILLED I OPERATOR, �i OPERATOR ii OPERATOR SALESMAN 95- _ 66 y II YEAR 1 11 BOARD OFff DIRECTORS -.� -•--,.,.AUDITOR .•J _ CHIEF i CUTIVE OFFICER, --••[LEGAL CONSULTANT CONTROL.I ••J ---• •�-.« HAINTENANCS GENERAL MANAGER I PR(7r)IJCTION MANAGER ` SALES MANAGBR FINANCE ADMINISTRATIVE MANAGER 1 ASSIST. M1� i _--•rADM. ASSTJ PROD11(:'1 if1N SUPERVISOR I COST ACCOUNTANT _ACCOUNTANT ....I SALESMANI ISALESMANi i INVENTORY jASSIST.BOOKKESPER l.. I DESONING I I PROCESSING `I I PACKAGING I . I I (8) 1► (5) 1r II (1) 12) ' SEMI -SKILLED SEMI -SKILLED UNSKILLED I� UNSKILLEDI �� OPERATOR I� OPERATOR II OPERATOR li OPERATORI El UNITED FOODS CORP. 01$CRIPi'ON ;UANT1iY IyRiCJU�7 ,.TOTAL..:: DUAL CONE BONING LINE 1 4,313 4,313 AUTOMATIC DEBONER 1 14,835 14,835 GRINDER 15 HP 1 2,588 2,588 BLENDER MIXER 700 LB. 1 4,313 4,313 VACUUM TUMBLER 500 LB. 1 9,776 9,776 VACUUM STUFFER 1 33,235 33,236 PATTY FORMER 1 16,660 16,560 BATTER/BREADER 1 4,025 4,026 CONTINIOUS FRYING LINE 1 14,376 14,376 CUTTER 75 LTRS. 1 22,426 22,425 EMULSIFIER 50 HP. 1 10,235 10,235 AIR CONDITIONED OVEN 1 20,700 20,700 AUTOMATIC VACUUM PACKAGING 1 34,500 34,500 BOILER 50 HP. 1 8,626 8,626 STAINLESS STEEL KETTLE 2 2,875 5,750 STAINLESS STEEL TABLES 6 863 5,175 STAINLESS STEEL CARTS 3 1,036 3,105 UTENSILS (knives,gloves,etc.) 1 5,760 6,750 SCALES 3 2,875 8,626 REFRIGERATED CONTAINERS 40 FT. 2 6,900 13,800 COMPRESSORS 2 12,650 25,300 EVAPORATORS 5 2,300 11,600 PLASTIC CONTAINERS 300 12 3,450 OFFICE EQUIPMENT 1 8,626 8,626 MISCELLANEOUS JTM 5% 14,579 95- 66 � � or iv, »%%.:t" {.:• t•w+C�y•cxn•r�iyi:., t�.u.. - �:••' r a try. �• 'f i fir:• .'',., t .�, i «, i +t ;',i :i:':i :5}'' it'{•'J fir•"''i�'.Z' ;s.`<<'' i::,; '':���� .: •• iin ! l � yi%3C' J- t•Y1�:yj,Yli�:ti i+1:' �. h.'•, ��ti, r� t\l� :' '• j \• «/ ,��,' P©�8QX•'83Q-ERIE;T_A•1651�-0930 IA . _Mr•' 4:� �.lr.�:� t.5�,::.`a1..• a { i �iwl• n1s •, • �f .r / '•� ,^ :dune �� ,,t •�,: � h�,=,,. �. ra ,,;�; . . . Yea * .t. r'yr{• d .� . r.;... .{t.• �" i .•t.. Fernandez de Castro 'v, '�'• United Foods;'. Corp. 1717 North:•Bayshore Drive Suite 2157 : >,,;,� PS+, t� a f�> l w' A', , •Miami, . FT, 33132 Dear Alberto: •i: In reference to your fax'inquiry"we have the followin ipment available ITEM NUMBERY 1462 MIXER / GRINDERS: Biro:Auto Feed Mixer Grinder, Md #AFMG 56 MODEL NUMBER: AFMG 56 SERIAL NUMBER: 221 Mixer capacity approx 250 lbs.,, uses 15 HP main drive for both agitation and grinder,- grinder is size 56 head, stainless steel second*grinder -or finish grind stlye agitator,. unit is presently out of production, complete and in good operating condition, Fob, Erie, PA. SELLING PRICE:- GWC $4, 000..00_ ITEM NUMBER: 1566 GRINDERS: Biro Grinder, Md #742.52, 7.5 HP MODEL NUMBERi 742.53 SERIAL NUMBER: 1396 $traiaht .52. -hAAH ari nriar, 7 - i idn, ur►3t :.s r,�Gov)tL� Y out of production, complete in good operating condition. Fob Erie, PA. SELLING PRICE: GWC : $1,750.00 ITEM NUMBER: 737 GRINDERS: Butcher Boy Self Feeding Grinder, Md# Au 56 ? 9 Continued next page.* .. 95- 66 4543�fi '!AXA.(8i4j59335& United Xbbde _4CorV.'.�' I} ,•"}�'' I e r w� {� a u Page; i `ry Sr ?Y*Y J tiY xl- MODEL NUMBER: AU fro -.4 SERIAL IM R:-.,3;:89, Self•feedin#ir1d6rj;,. ,.: ._, p belt:�drive onrindSngg0 :volt is FleadI • •auger & agl:� oz y a'v been r®plated. Approximately 250#._.capacl Btainl6es hopper... Feb Glassboro, NJ.`•. SELLING PRICE:•'•GWC"'-- $6,500.00 ITEM NUMBER: 628 BLENDERS/MIXERS: Butcher Bpy High Lift•mixer, Md# 500H MODEL NUMBER: 500A - 500 Lbs. capacity mixer, paddle agitation,.100" tilt discharge, *auto tilt at tap of lift, 3 HP standard drive, overall diamensions110 high x 75 1/2" long x 36" wide. SELLING PRICE: GWC I.: $5,250.00 ITEM NUMBER:•2207 EMULSIFIERS: : Griffith Emulsifier, Md #FD225t 100 HP, dual plate MODEL NUMBER: #FD225 , SERIAL NUMBER: F3264C Griffith Emulsifier, Md 4FD225, 100 HP, dual plate, SIN F3264C, lots of emulsifier parts. Equipment available "As Ie,'Where Is" Clifton, NC, SELLING PRICE: AS IS : $5,000.00 ITEM NUMBER: 1992 EMULSIFIERS: Griffith Mincemaster, 125 HP belt drive, dual plate MODEL NUMBER: #FD225 Unit has a,3' x 4-1/2, stainless 'steel feed hopper and front loading plates. Mincemaster has had weld.4bfi the cutting chamber door. Equipment available "As Is.. nr",- t re Alberto FernandW de' C United °Foods, ..•CorpY ' t FQg ea.- 3 st 1"�d dll 4+ cr1n n r � � �•..yly�.3' t �WPQ�tt s _ �• f '� }y Where .Ia° Bristol,•. SELLING .PRIC9 46 .AS TS `= 500 r rTEM NUMBER: 2786.EMULSIFIERSi' r , Stephan Microcut Emulsifier,%Md# MCH-20 MODEL NUMBER: MCH-20 ell Two year old Stephan Microcut emulsifier, 20 HP unit movable, complete unit very little use. Stainless steel feeding funnel and housing, 2220'-poundsjhr throughput. Electrical 220 volts, 63 amps. QVerall heirght 35 invhoo. 2- a6G6 of cutting rings available. Unit is ideal for•the production of Eakin emulsions, Fob OH. SELLING PRICE: GWC : $11,500,00 ITEM NUMBER: 1885 STUFFERS -- VACUUM & PISTON: Handtmann Continoue Vacuum Stuffex, Md# VF 5o MODEL NUMBER: VF 50 SERIAL NUMBER: VF 50/0263 Purchased new June 1991, does have digital portioning twist linking & automatic holding device, linking gear box is included for operating the twist linker, unit is used in excellent operating condition. Physical dimensions 63" high x 3311 long x 21" wide, gross weight 1450#p. SELLING PRICE: GWC $28,500.00 ITEM NUMBER: 2954 STUFFERS VACUUM & PISTON: Handtmann Continuous Vacuum Stuffer, Md# VF 10 66 j�.t MODEL NUMBER: VF-10 Handtmann ;conii,nuoue vacuum'' Stuffer, 'md# VF-YO,....With built ' in portioning and twist - 1`inking; ;gtuf£ei.aas ` purchased lnew'.-in. 1988; ;and; s ''doniplete!.-UCxvery '.good .; operating condition. Available iri July,'1994. Fob Na. _.. Including: 'stuffing horne Devro.IOmm, 11mtd; . 17mm, miap ( 3 ) horns .'for twist linker 14mm, 17mm, ` 196ir' andram' with tension SELLING•PRIC�: GWC ' $21,500.00 ITEM NUMBERS 2839 STUFFERS - VACUUM & PISTON: Koch Vacuum Stuffer, Md# KVF/80 MODEL NUMBERS "F/80 High speed stuffing, with electronic portioning and .linking. Stuffer is designed to eccomedate every type of commercial stuffing operation in small to medium size facilities- Straight -fill, portioning, and twist -linking, all microprocessor controlled. Stainles steel hopper tilts back for easy cleaning, locking - lever secures hopper. Built-in vacuum pump, with adjustable Control. USDA approved. Fob -Utah. SELLING PRICE: GWC : $191500..00 ITEM NUMBER: 1690 PACKAGING: Multivac Rollstock Packager, Md.#5100 MODEL NUMBERS 5100 Purchased new 1983, set up with 459 web width, gas flush,.unit has been replaced with extended bed 52001. was in production till February 1994, complete with spare parts, and operting manuals, Packager y& 66 JF� tliL►�eU F� �•6.t7 •.. Alt�ert6' nrnandAz.• c e .:,-Ci#! United. Foods, i-Corp:` -Paget: � 5 is- used i 6bd; condiV`L`-' NY:. SELLING PRICE: 'GWC , :: °$55, 0.00.00 ITEM NUMBER: 2832 PACKAGING: hixi•Pak skin Packager, Md# DP-100 MODEL NUMBER: DP-100 Dixi Pak DP-100 skin'paak machine used for high volume skin packing,, both bone -in and boneless product up to heights of 100mm (40), belt width is 320mm (12.511), die. size with machine is..230mm (911) Seller will sell one of two machines, both purchased in 1983. These machines have been used intermitantly and are in good operating 0padition. First machine.has booster pump, uses plant vacuum system.. Second machine is complete with vacuum pump but will need new infrared heater ($1800 credit on price). Fob PA. SELLING PRICE: AS IS : $35,000.00 ITEM NUMBER: 3058 SMOKEHOUSES: Alkar (2) Truck Capacity, (5) Stage Controls & Generator MODEL NUMBER 2000 SERIAL NUMBER: 805010882TE Purchased new 1988, all stainless steel interior & oxteriar, positive seal door, electric fired, humidity, front drain outlet, high temperature limit shut-off, flush door seal, smokehouse is complete with automatic time & temperature control system (T & T), process is programed and steps follow in proper order, also. included is automatic auger feed natural smoke generator, (10) stainl000 otaal na6L!Liy smoke racks, screens & sticks for same. Overall house 152" long x 61" wide x 94" high. Trucks 42" x 42" x 72" high /�� SELLING PRICE: GWC $29,500.00 95-� SS (� ITEM NUMBER: 1132 SMOKEHOUSES: Vemag Aeromat Smokehouse, 12 truck, Never Tnstalled '• `�%its �, � t � r � .,, • r t � '� 'y ••+ � ..�{L'yhR;`.�.X���ji�!v:�y���Vttit•.'S.. r •, ., �Z,} •. ...�•L ;�'J._ ;;i��T�•'.• ,,, ,�''' •„t , a'�:;,r. � � "� ' z,-ice �f'� ti .. �l '.�. t;1' r ' k^ �l+'s.i'��'Sa�u9'�5•:�ij:��i 't�'fl�r� t �r \ f rri..;YP y TY• i y, 1.° T y ar L irtr�~�+''� t �. T . • c'. `i o r •r! ♦ t .. r � Ah C.. ,r i r �,� r+i..� •�?. • � .. ! .: � j'1 t '4 �.,�k�A. y �••i. l>,d. ' :iS[ i � r •' t+:�' �, r0.Y , RO '.®O 9 V Y.�� :S „� C1a+ci�•" 3 E,1.PA �651+2-0930` r(814M4a26 ;e r FAX �814 9.3359 Y `) i.r • • ,� ,. � � � t • T s t� r . •7t .tie r r r ^ �,,r aft . , . t A]:bQ; o %Fera e+Ve�(.L;•r�1,�,, `';,•'t�3�.-.b��t �� ,�i�, +�.►,.,'`� ,fi; t-t ,. .I :...�•�.." x �r w:'wv+t f :.'4. ` deliCa'tndez`*i ro tr �- i �`� � r. r r ti �r rz, Op.r��� •l r i� •i �y yi r rt�s united �'oads, Corp :Page: 6 ' .. , +� :.i . h'. :.4w ti r .r'- yr► •.,, • MODEL NUMBER:` ' " 12 truck Steam fired (12) truck smokeouse, standard- : 9' 5 wide (1 'meter) r'x 48`..' long x. 7211ta . -high; maximum ::opereng temp. 203 " degree & '65$+ to :95� '.humidity..fr s ` fr 35g of -the circulation air .'quantity, controls 'a're_.il ema standard Micromat this ie•;; fully .**automatic,.:diamene one 11' wide x 22 1 'long x 16 ""high, presently i;op mouated blowers, liquid smoke injection, 125 amp /'.440 volt, UNIT PURCHASED 1988 NEVER INSTALLED STILL IN DRY STORAGE. .4 SELLING SELLING PRICE: GWC :. $95,000.00 ITEM NUMBER: 1461 FORMERS: FMC Aecupat Former, Md #3AP MODEL NUMBER: 3AP SERIAL•NUMBER: 8484PM Patty former uses rotary plate with (4) postions to form and portion patty, capbilities of upto 40 strokes per minute, single head former, unit does have paper feed, and (4) sets of rotary heads for 4 to 1, 5 to 1 and (1) unknown size, unit is complete with stainless steel feed hopper, presently out of production, used in good working condition,' Fob Erie, PA. SELLING PRICE: GWC $4,500.00 ITEM NUMBER; 3062 FORMERS; Hollymatic Food Former, Md #580 MODEL NUMBER: 580 'SERIAL NUMBER: 1338 ; Complete patty former, with some plates and knockouts unit is used and sold as is. Fob Erie. SELLING PRICE: GWC $3,500.00 95- 66 - - .•r[a yis' ,.., .... c•=1;' :�:Z:!". '— -•7,:<aF.`•i.[:M1:,.. •rs..,. -- Yf:•. de ode `-Castro . Albert0=<.Fesnanc� .5!, ,United•Foods , . COrPMe 7 :*. ITEM NUMBER: 8047.F4ttiftB:}6�T'y1 Tederform. I Food• 1'.6 m46r Md r Forsaax ..: set up MODEL 'IT MEERt' ,�''- :.and still in _operation, purchased , h0w �1990 ►. dsol_with (2) sizes 'of paper with Tenderform, was purchased feed but is missing paper _feed holders '& vacuum PUMP eration, form dose have from Paper feed .IS Out of et.attachment and a variety of plates including: nogg 5 oz and lus standard 3 ox, 3.2 oz, 4 az, condition, plater Pmer is good operating f inger%r,o rCana�da .. in Fob On SELLING PRICE: $29,500.00 TEM NUMBER: 1809 FORMERS= Md #8/65 Hollymatic Patty Former, MODEL NUM33ER' ; 8 / 6 50649 SERIAL NUMBER' ' 147 4t used re Used patty former, last used for 0 Patties apetPuhourr atties, production upto 3900 beef p r�asently set with multi flow 2 i 200# hopPer aepacity, P fill system, former includes 1.b ozr 6021 and280z 4oz (2) shapes, 5 02, 5.3Oz' arts. shapes, of new p Machines also includes variety SELLING PRICE: $14,500-00 ITEM NUMBER: 2789 FRYERS' Md# FA10Tf 10' x 14" HOLD Aug 15y" Stein Conveyor Fry , MODEL NUMBER: FA10T fryer. New stainless steel Stein gas fired conveyor •frY able speed b site, new drive motor witholerwl hxfire �suppression, control. Stainless steel h stem including pump•9 5 - digital hoeing replaced byilter larger8capacity'unit, it 114 Fryer is.being H1 TurbO 5. Ton Ice Machine Turbo ice maker with 5 tan `capacity, includes,new pump. Machine wae,purchas'ed and not used due to change in production needs, stainless steel contact. Fob MS, SELLING PRICEt AS IS t $10,500.00 ITEM DUMBER: 2692 MASSAGERS / TUMBLERS: Dorit Vario Vacuum Tumbler,' Md #350, 350 pound capacity MODEL NUMBER: 350 SERIAL NUMBERt See Below Serial Number VV1-150-324--RETUS-CH-5742. Same'discrip- tion as.Item # 2691. SELLING PRICE: AS Is $5,9Ot�.00 ITEM NUMBER,: 1803 MASSAGERS'/ TUMBLERS: Foldenhaur Vacuum Tumbler, 750# capacity All stainless steel vacuum tumbler, 750 pound Capacity, ee1f Contained vacuum pump ,and variable speed drive for control of tumble speed, unit is used and presently out of production, tumbler was replaced by larger unit, good operating condition, Fob FA. SELLING PRICE: GWC $11,500.00 ITEM NUMBER: 3083 MASSAGERS / TUMBLERS: Inject Star Vacuum Massager, Md #HSL 750 95- 66 Page: United F'oods,'Corp:"��'� ae i '•� . L• i' MODEL. NUMBER: ` HSL 7550 All 'stainless, a eel; :.vacuu:a=.inas ag r,,'� 750 er capacity containerd.a::,,34"•, `dia x 61`+deeQsysti+m `iieeigned' far tf.iting to Accept. ,the• Contsinek.:aAd: horizonte�l Mae sagf.ng :postio�,�;. And' tilting o£.-: bottom for. self•.. ' unloading �of coatiainer..*, System complete with lifting -- massaging -emptying unit/hydraulic:'included,'.electrical vacuum and control unit and :(1),750'liter product container' with lid, unit is 'still installed in good operating cogdition. Fob PA SELLINC PRICE: GWC : $23, 500, UU ITEM NUMBER: 3095 MASSAGERS / TUMBLERS: H011ymatiC Vacuum Tumbler,'1000# capacity-, All stainless steal tumbler, 1000 # capacity, self contained system with Controls, vacuum pump and drive system, horizontal drum design, loads though 20" dia doorway and spins for massaging and unloadl g, does have baffles as part of drum not welded in. Tumbler is portable on Casters, purchased new 1988, used in very good working order. Fob Na.; SELLING PRICE: GWC $7,250.00 ITEM NUMBER: 2016 MOLDS / SCREENS & PRESSES: Hoy Ham Molds, Md #108 MODEL NUMBER: Md #108 (100) Hoy Ham Molds, Md #108.- Available "As Is, Where Is" Bristol, VA. Price quoted is per -unit. SELLING PRICE: AS IS $45.00 r Price is per mold.' ' '74 �1 'tii,j,�:�f?$i •'.�'�:,�t)�•%�,jF''?�r'�. `�/��i�:1,tY `C14'.�.y,'�i•�ti��Ly<a. '� ,�A& mis � r• .•1• .J, r •• .y9 t . l M A 28!t ti'.FN`t3"R0.8OX930 ER93359 if0'4+} ��Q :;Albe'rto':i.Fe`riiaadet de ,Cast�Co:;nQ�}r,,.� a• rm , t .-United Foods ',Corp,,' ,,.� • � . a, .�'e Ulr,., t Pages ,10. ITEM NUMBER: 2828 BOWL.: -CHOPPERS/ - SILENT ,CUTTERS:. Roch "Fatosa". Stainless. "Steel . Chopper,'K•75 . Liter MODEL NUMBER: 75L•' *' purchased new 1994, . all' stainless steel chopper, 2- speed knife & bowl, maximum bowl capacity 125 pounds, (6)''knife set up,- knife. speed: 2600/1400 'rpm, includes: knife brake, power unloader,'stainless steel starter panel, lid' safety switch, seperate bowl. drive, dial thermometer, loader discharge height 500, chopper was purchased by retail chain and removed for operation after 24 months. Used in excellent operating condition. Fob Seattle, WA. SELLING PRICE: GWC _ $22,500.00 ITEM NUMBER: 1846 BOWL CHOPPERS/ SILENT CUTTERS: Kramer Grebe Bowl Chopper, Md #SM120, Stainless MODEL NUMBER: SM 3/120 SERIAL NUMBER: 177/255 Purchased new in 1989, 120 liter capacity, all stainless steel bowl, variable speed knife and bowl, the drive is a DC variable with the ability to run* in reverse for folding and mixing using the back of the knives, chopper is still installed.and can be inspected in operation, excellent condition, Fob PA. SELLING PRICE; GWC $41,000.00 ITEM NUMBER: 3037 BOWL CHOPPERS/ SILENT CUTTERS: Talares Val Bowl Chopper, Md#,CRI- 50 MODEL NUMBER: CRI-50 9 5 " 66 StalnlnAA steel bowl chopper, 220 volt, 9 phase, chopper is 50 liter capacity, 361, die bowl, (2) • speed knife & bowl,, manual lift knife cover, (6) knife set up, chopper is in operation for inspection, k F t .. F 9�+ zly JA,t{ y.;�;t1c: �•. Jv i'i F �, t a"t` • R 1 ' °Sim +Ti''' i •°.'z. .++i ,` RefpJ•l•' a�SIR 1' ... '.Alber�o'��'Fernaride�-,�la �Gas.�• ���µ;�a.� � :��=t�t�x ��, �.' ..United"Foods .•.t!o=..;4 • •,qWf, '�i . a • '• t 5''• t r sii tL �11�. z yw..>. Lri ,,, t in excellent eandito f July1994. Purchased ew t988 , ,��`ob SELLING PRICE:. 'Gwc $1.1';SO0 00 If there is any •additiana7• :'informdtion you, may require please do not hesitate to contact us. Me'-* can -seind "photos To'r initial review or set up an inspection at your convenience: „ ''. Thank you and I l6ok forward :to hearing- from -you aocia.` very Truly Yours, Equi nt Exchange Co. of America, Inc i Robert Breaketone President RJHjclr m1iix r d -Rd rd W Ltloel dfacrtj M d Red PlQMty bedtd M W) IZIT- 12 7eh Avvnua, K al, Florida 14 ftvwvge— NONP IL FURCIMI! MIX ................. ................. ............................... ...................................... .. .......... I ................ .... httlt+M. , (4QtOeW4lobebMk* w by— At1ARE CAM MIw M*odof... S 10.000.00 lb) Ambul "cow dootl wtltN d" aw Etke" OsAt h ow mmuro 4t......... ............................. a...... 0 (0 Bebltd to AND of fdRWm of mw*pe in pood dxdv M kw & NaNnO aA A00rrdraab PnnM P ,- bAWN d... S Id1PodmIt�orMYIn~sedroNbov4i&ftWk*mst@ta�t�..�i(faAdd9dwr4MbnaxMd ...............6 aRt enOp'1nim isI OdMr. S 0 07(M to dM N.B. aad%. LOCALLY ORP M MWW a asathfti choky. MNod b tdyAln& tt end porttbv..:.:.......... ....::. i SFF ADDED _._. IL TORE FOR AOCEPW Ce{ EFFECTIVE MM- FACSMAILt M Mdt oNr k ad &*PA d by and dsl.red to d pwtke OR FACT OF EMCULIOt( ocoww Da W In wdrng btlaoon Sr ww" al or btba rIT!RARF- R - Is M. fhf d000dKa) wK at 04w*a epft% be Nbrrod b OLW ud Nit ot(tr wOdroM A Ia- I I OW of Ii Cw*ad br Ssk oM Rrdwe rConkedl and ary dpr"m Iwoan YeA be oas,fbaod Nor d PnOsaa as orlpaMN Ttr 60 Of Ctriod Ili l wM be to dek ww Ir kd apt d Mr soya W Batar trta oww"dim . W S IM PNdkw WW r fry oat Of k Is b be Era CW by a Ira I*V be% WI Oonbfd b aadMbvd an ltr era'ar a (2) or fSik (9 C a Ibeod. t2) O � tldrrittbN or (p) O a IaeO a q:m4bir TIN bsn wkrh,.r., drys tdltr Et(sdM OaN d to NWI Yeowd raM rot bd k krm sal year. w,d for r» PrMcbd. WI! d S IkW v a Rw)w opplkx on wwn .ewe Dop+n. faro tarutraeofombr b�ebW�dnM7onf'0"d"Mda "oom«mifnwribilwn,"'" +or°ibKorlrbr Ywrwlb�i �aon+Pc° wrtwn "11trt' Y" ma anoe+ uM,t�orw�.am'"menLa�daB:q: �('Mna''�.d d W. 0 Was f) (bl Tea vkSnp malptgt dsspDod h Prspraph Ra! above het (CHECK . YritbM k*md"or (2)13 a Rod kraed nb of a per tnnun. N Mnr d Mb karr{tsr acme Sxad hMred nkt sre I Irrcretseq Mw reM chat rot caned S pr &YvjfL Star *NO, w" days sfw EtNCIve S NfWtomsrdt m batarrosf d�ptvmrW h nerdj�to}a�I at �oiseurWbn rq �dl,�ry ar moc ttbfM yaproiruraa���4m,m�mV. TITLE trMEHCE: Al lost �E d ( Off- 4" bdon dnkq daW Sdr drq n�y�f W., a (!<cgvr a B:q�f. dbmey. M fgMnitiW wpi Bhrdxd A. ICliM I0 a (2M IA Q "ad at Mdt or (2) Q Mk kmnr*t oommrrrwa and, s(W obsinp, avrrwfa poky d ft Msxtna. VL CLOSING DATE Trir lrrrsdbp that be doted trd to doed and adwr Cb*v Papwa dellveW on MOSCAMh� t 0,Q/f,ga fxW*d }y q(ur po4bw d Co*#A VI RE9fTMCT101tS;USEMEWT1pUMITATIONS 04+r Peke lIW tub►td kxtonkq r44$&lbn prol�klar tMod.r rfquln�Imposoda �,a� �UlcOar sM mallet tpp wa oo ptat r opwwh0 p nqn b Y+a aWrMklar puhtb utplY aasMnanb d n0ard (easartwia re k kd b Rt f Md n0( nmfe Mrai p INt h wkRh u b fM Rtr ar katl ins and 711 qN h widh q b IM " kow unbtt dt�orwlst aW10 WW "At d alofNP fOaMkfl ytsr;afsatadmorlgtgssr4pvI,"4 m@y"anPaooa.Sary;tow. mwrr•.ra nf pii%lin rwrnrd and all reAl ♦bt•wew rRmaa : DrvMod. Ivl ttmrs ttiett d obtkn ro Ytdetlon d Ca kxtyokn w4 nam d Mon p wmu wool Rtd ftowh brSQta ere { a 1 pxpows). YgNL f k�pr� _wurrrdt tl41 Scare w ro parlbtBMrytotoaytrmy odY+ pnn 8tptr I t�ropkpeOrrAtOfyMM hlwdtd b be mr4W (pooObd algaapbna�pI kd fnd !:d deb, ma da+l bt dtt (d'ProtkrLY�txldk0 oardCbr�i u of sit - Vkk Yo00Wor1Cy u Mu Y t00Wahft nbkt W7N X TYPEWRITTEN OR NAN OV4UTTEN PROVISIONS: Tyoaw loin ar twMrrklon omvWbm ahat *wW fM Ohded prvvWb e d CoMrad h omTd "h Iwm. C R[DERS: (PECK Mary d ft tob hn Rtdort an wkshts AEg we dt oded b Mdt Conuadh (%1 O COASTAL. CONSTMXT ION COMNOL LM MM (0) El FOREIGN INVESTMENT N REAL PROPERTY LAX ACT FWER (a) b FHMAN AMR (b) CCm+ m&A MweR (d) Q woAt10NmeR (0 �1 OTNEFt dAd�rtnne rmP CL ASS101441 ITY: (CMCK (0 or (21): B.yw (0 G mw uatgn or (2) afW not assign 0* Co*$CL % SPECIAL CLAUSEM. (CHECK (ri r (2))aAddeMmt (0 M Is attsowl er (P) (7 floe Is no A&Vn ueL tr4 TMIS OF THE ESSENCE OF THIS CONTRACT. BUYER'S INITIAL$ M. (NSCLOSURES: Ewer tCknpvAedgea r ❑does rot acknowt.dg. reoelpl o(QnlmcxOP�rtdon kpp pt+ oW01CDpC10RicYltwh dbdon+ret..... —_.— THIS IS INTENDED TO BE A LEGALLY BINDING CONTRACT. W NOT FULLY UNDERSTOOD SEEK THE ADVICE OF AN ATTORNEY PRIOR TO STONING. "FOf W K-A OtM MPRMO BY WC PXFtI A ASSOWJ M OI NO RE PLOVDA WA oaa not mans Ib rwparrrsasitwaa M7a r nn a _1eiv_ rl iarAa�socNra it xTo psi eron hi-b Pps promAw "'�p1 r. r r oDPYROff Iotr UNITED FOODS INC. 'i3I7 AS�S3CIATE6 Oak p t Dal• rn WW aom* at Tax LD. • social 300^ or ht tn. caw (a44 bcW Seamy or Tax LD. 0 Soottl Sec Ay or Tat LO. 41 wost order Pwagraph a(s) rKeNod; IF OTHER THAN CASK THEN Bue,TECT TO CLEARANCE. (Saco r A0" rocERB FEE: (CHECK AND ATE THE om mvi.ICADLE) NO BROKER ft loo To brow on darirnd. to rN atigeGon artskm *A (Vbm nem• 64 NOV wbaperds mr-od, acw0ng to ow (cans of an exie ft sepaale llgly apr .! A cam a " np t a1L Win' `T^""�' • •m• r �_..... A EVIDENCE Ofi Tiier. (. M eel�ffrapp� th4 Posted a 11rouON current s topulable and ekP ' Musa Nam (I rot tlMt V then WOW W aW +�Ypy an a411,0 hem) �ptaPor b be an eov �ro elY660 Otte b to Wait t1r date roeaa Put* noada d Ifr M Rod transaction. M tjyetrsdC dra(I. l"me �a aro trhftd wth a rbtl p lob roconia a each later deb tots my • a�wy h to eaaty. UPW aoNnO a property d taab)td b Ie rid$ d leiefdlom threat by Mt mdrlpapee I,If hlY poo. t21 A Ylk k—f— Nwad by a floft chanced OW Iwarr' eSgroohg b Neer b Gayer, web tioordn0 d 01600 b &W. an OW&V Party d tee Iwxanco h tw ethoaRx adnehw�reRrspay v6�e�1er� ry IkWe or t46M o111% b Its Real hop". rtwkd.bwl a ua.ell o bake t wo,$. a ~aualtceth bm hew W�In the MallUt" UW a UfA be duf.rmkredNettaan0 bdeppSceWe Tk% SSwBdW Shelf 4wt 6do*d by auanorly Of The FWW Gar and in socoNaroe with low. Bur. eholl have 30 date, t sbelnet, a 6 days, N t1N eommlmanl Ism dab d 1000 � eviienoe d Title b exrttro IL N Ntle N bard de4athe, gar ehel, win,h 3 days, rosy Boar n wnNktP epedlykrp ddtdtq• r the ddoet(.) under fhb umuraaw, 8alor w# $have 120 ham feGbl 11 rolu wEhh wHda b d to &is (a,. ddrefU), hthp rite+ Buyer chant have to opton d ether eo�plhp the 11ttle n It then N a der-&V s aekod d e) paid. vahlch cheat e(IMImma10 co be aeAnrd b guys M rs Buyer end SOW"Now" oro srao0,er of M IurNw obfipalbro under the C**s% titles 04 N ft N bunt use dltpeN eftoA b txxnd detect(o) h the title wRNn fine Ild" provided 0-#W, l+abdrq to Mrnhp d naaasory wfia d week%ind q, m0abe ie rots ref Ih6 tCiq s4Nmtiti s beNoon • " r. ear wr .rxr w ye. vw,v a saagnw a+.t el tarns GPM% �rV fde•asrr7A of esaxny 6gresmant evldsroed by teoeedeC mOApsps, to paaynero won eaeeed Derledk Peymnrhte teneeM1 C ILWAvI 04W. d IhWa e,toans, riche Ones allowed to dsiwr tviienes d tla end b e mheY have host Property Brad oorttbd by s registered FbrldW wtv W I yV. --hm nt on Real Nw rty a that i v.-rorts bated arty a, aNt»ci trace aaaemen4 Nods d acre a vbtea any roalAclbna . Confraa a+rtr"a appnceble, governmental regulation to aerne than con.Nix. D. TERMITES: Gyw. at Guyte's earpame, wKiin Inn stim evidence of Nth and b examine came. my have Raw property hhlpecbd M a Florida Cwttbd PoM Contra Oprator b abtonthk,$ N Phone N soy V"* acN ewtilm or visible eANtlN Aumq. Ian Wra to infestation h Ne hgrohomaorta N either a both are bud, Nyh+y+r wit . tat t do Iran dace d written ro1Io1= W=V 10 have N afamcgca wfa6rr "9014 Of not. kwected ant astknabd by a darned builder or Nerearal contractor. Senor tNhAt paay wW tow d M f ol�r>7 mpak d all d-4o cep b 2% d panther WOL EhaAd tact Cost$ excood tat anaout lhw OW have Ito 6pt6i d cenceft Contract wtthh i Goya e�nypeeb�l eor* s ropak estimate n 10 Saw or red h Buyer r ow ebd b pv*W with the tror"claL In which went per aME meats a d an amaout e b tint bW d Via end of 2% of Ole faxdtase price. 'feraMeP Shop be doo nod b ix" ell wood L INGRESS AND EGRESS Soler warrants and represents that Yen N tigress end Sonar b Ore Real lanperly Sumdrt for the headed M'66 duacebod In pAregraph VI hotod, ids to tatk h N In 6Coadrge with Standard A my thheree w o" wwna b Cordirm 0. IEN& Geier shah Ixmteh b 51AW al time of oloft n allidrlt attelkg to Its abwrhoa, ante$ dAaw1N provided for hseeh, of cry oul irtafft pdayakpn,$ d Son a p�tpl begot known b Sokx And further stlestlrg that Nero have boon no k varvirena or reppka b to y br 90 days kvf*&tdy� da�faMn vd I pro" h4 been ky0mved a ropelmd within Nml Ina, Set4r chop doiva reteasas a wahere d moc aatca' fora etreaAed by 6i gonna oonksaat, etabaaKr h addition b Sdar'a Its sfrdavp total' q both t,e ramee d al such perord o0ntrsebre suboortrsclors, suDDYors ant mAlortaknen find frrlfw ellttttnq tat Y dwpos br hpq snesnb or repaka which could serve as a basis for a med anie's den or a cam for domapee haw been paid or will be paid at doskq of this Cv tnd. tit PLACE OF CLOSING; Cbs;m chat be held In t y� the olreA d to Attorney a other aloft agent dosfinatod by Bollee. which Steal ens ufft �Y or IsOd Mi6y wWnextendjbo600 Pored the rr b isino day. W a4M a nlbnw Iepw MYdari and ry tlma pabd provided for fweh J. DOCUMeM FOR CLOSING: Sefw Sind Ifurnish the deed, bop of aria, erndharta a nee ltftldodl Asabnananis of leases, fenent and mo VVN estoppel tenon"comed a I otnxnats. dill yea "All kv" doft Statement. nor. asoxYy agmemat find fxu xiy e4terrerts K EXPENSES; Dopxnenlary slompq/ 0ithdreoyho-ft corrective kWnrrantaa�ak rip Documentary strros, (tangible tax ref re-W&V Pushm money matpepa404vlw, 6M ref linerwing watemaxts shel be paid by Cuyer the option at wtkg over arlly ceding poklee of Insurance, I assunabic In wheal evaM aomiu a Shan be prorakd. Cash at "gloskq thse Cs h @led or doenssed Ii roouked by Promrona, Promaw will be made though day Prior to occupancy N oowerrcy oeoura before downy Advance rant find staxty, d.poala will be coed% rand aaoaow deposits had by mortgagat will be credited b Soior. Taws that W prorated based an the eurratt s tax with date aft nce Tear lo, and owable start, Igmest0ad and diner exemption. N closing atom at a dale whon the current yearn N not Mod and current year's Assessment N awte $ WE be torwolod based loon such assatWment end the Pea yer'a maps. N Currant y0ol s AS.isftwt N no( was atone 4xea wail bs prmttd on the prior year'a taro Aro oprn�ied Improvements on the Red Property by January cal of year of dosnp -lid mph rovemerts wcro not n fixNLrca an Jemery Iw of the pea you xoe writ be prorated based aeon the abr yeah mlLnpa and al an seuAAbte assesame l to be sm capon baavwan to fw*s, filling which, mQwst will b to County Property Appraiser for An weemd astottmwt taking Into ooroldoratbn available ommpllens. Ary W proratcn bused on an tsthhate ales ad request d a Sella, be oubsoo orty roaQrMod boon receipt d tax bin an condign tut a sW~ b that effect to inYr cheep w asomom M. SPECIAL ASSESSMENT LIENS: CertNbd, tWrmod ref ralMbd soccl f Assessment nt Items AS oldoah0 (rat as d Ellsctivo Data) are to be paid by Softer, Porlding tent u of data of dosing that ba assulmod by Beyer. t to Improvement hat been s�""mwd d as d Effective Osts, such pending lion wait be considered oergiod, conilmod a ratified and Boller shag, at doting. be charged an am0u t actual b the last eslYm8a ImprphertheM by the {xabYC hOdy.f1 tiSPEC110N REPAIR ANO IAAINTEffANCN: Saga wantnts calm theCeWqtoo((handrepptoriteandsaffns)ref axartor end khleniorratstcawap la eq ivateM) and doekago do red Owe pry VISIBLE d ,a structural damage and that the We tank pool d applances, methark hams, healing, codrq electrical pfunabkg twona and m we h WORKWO CONDITION may, at &yaps a*"*, thaw h3lowbres mode d those tams by a ism Of kdnNecal apetla;Ui g In home Inspections And An oawatbnd licence for ouch pxom (N mquked) a by in spproprie4y tensed Florida cortreda. Shyer ahaA, prior b OWer's oomooncy a not Nit than d0 cur 10 dosing. whichever occurs fyst report In wrakq to Seaer such items that do not mod fop above standards se to defects. Urecss Burr reports Such defects gal line, Burr that be doomed to have wsked SeWs warrantkas b 10 defects rot reported I repairs or roptaotments are reetlkod, Setter SW auN ouch rcM made W Stun pay up to 3% a to pur<luse Price la such Impairs or nplaoemants as my be required In order to dace such Roma in WORKING 0014DITkpN I the such repairs or replacement exceeds 3% of to puciata pr(ae. Buyer or Sean may elect to pay With etrcess, 141111 which saMr party may tuneN tts COnu Is wise to correct the dvrecta prior b 60111( ! the toad n»red shal be pW Into escrow at ebtkg. Saar will, upon reasonable milks, provide utakbs wvlce s b the ProparlY for kepeclions, leckjolig a wage• Prkar b cio0% Between Eaft" Dale And the dote of tbrarq wept for repairs rtOlked by Via Standard, r 0. RISK OF LOSS: N the Property N damaged by Ike or other casually boom closing and cost of restoration does not exceed 3% at the ssscssod valuation of the Proporty so damaged. Cost Of natfaelbn Whoa be an dUrlgalion of the Sebr ad dosing ales proceed pvxsveyM to N0 lerna of Con rod with restoration cosh escrowed at dosk,4 I the cost of restoration exceeds 3% of the Seemed valuation of Its ifvrovemenis so da w0ed. Buyer shad haw the ortion of tither 4kkq Property as Is, logatwr with either to 3% or any Insurance proceeds pryebxae by Yklu0 01 $loci, toss or do-,,, Of of Caneaaing this Contract and receNkq return d dolmt(t). P. PROCEEDS OF SALE; CLOSING PROCEDURE! The deed shoe bo recorded upon disromoe of hods.I abstract evidence, of tale shah be oonikxnd N Buyers expense to show title In Buyer, without any encumbrances or lunge while h would tender Setkes Nlie v marketable from the date of the Nw rAdena. Proceeds of to uN anal be hold in escrow by Solo(A Allan ney a by Such other mutually acceptable aaerow sperht for a padod of not longer than 5 days from and after dosing aide, Y Scions tt% N mndwad axmxlutabb, through no faul d Buyer, Buys shun. within the 5-day period, notify Solar In writing of 8har deket find Serer shall haw 30 afays from data of receipt of such ndiricalbn b are the defect. I ScAar (s a to timely cure the delecL all dcoosk(s) end dosing funds slaS, upon wrRbn dort" by Beryw and within 5 days offer demand, d, be returned to B yor ref timAtanoasly with such repaymorlt shad return Pasonvlr ad V=I6 Property ref reoomey t to Seen by special warranty dood I Buys cols b make tlmoly demand for refund, Beyer shad take title As It, waiving me rights epakaf Sully As bay kterveakq delect except So may be ralabse to 8,4w by vklue of wwrrh8e owtalred In the dead. I a portion at the purchase pprea Is to be derived Iran Institutional fro^ol^g or roh%anekg, reaukarnerts of to Nndi g hsllution AS b Plea. Ike d On and procedures Oa closing, W la dhsbursonnord of mo,"s proceeds Shad Control over conaarY provision In Via Conlracc Soler "I have the right to regain from to bMkq institution a Wilton COMmIlmont gat a will rrm( withhold astwamront of mortgage proceeds at A MSalt Of Ary tale dated attributable b Beya•mnorlpagOr, The escrow and obtkq poeodure requited by this 8tardard may be wahwd I Otte agent kwtxes &over" mitten rxrscwtl to Section 647.7811, F.B. (W601, a smCMod. 0. ESCROW: Any escrow a"(' ') motiving funds or oclulhelert Is authorised and agrees by acccoLonce O( them to depose them pxorniulty, held Same In escrow and svblect to doarance, dkburea tam In ocowdnawe with term and eanddoe of Cortrsa Fodurs d eNrahoo of funds shall no( time Buyer's partormarao. I In doubt so b Agents duties or liabilities ads the provisions d Contract, Aped may, at Agent's option, eontine to hold the Subled mailer of ties escrow urO the pertlot mutually aoros to Is d'is xureAmet a nit or unlit a kdgmat of a oourt of compOent Wsdktk)n tail detelmine the rights at the parities a Agent may deposit same with to dark d to droll court having )Kwicllon Of to diopuis. Upon notifying d pucks concarwd of ouch action, el Itablety on file petal Ager was Ny tarrnina4, except to Its extent at occourtUg for Any items Varylousy deMered out of escrow. I a Scsnssd real •state broker, Agent will Comdy with provisions of Chapter 475, F.S. (1969L As amended. Any Sul between Byer and Seder wherein Agonl N mode a Poly bocows of aching so Agent heroundor, a ny in asuit wherein Aoorx nierpteads the KMect math d de escrow, Agent "fecovor masongble attanwy'e Des end Calls Neared with the fees and cost$ to be paid from and out of the escrowed funds or 6gLAvAW% And charged and awarded a$ court Casts In favor Of tw prevaekhg WY Pallas some that Agent shag noa be table to try pay or person for misddhory to Buyer or Sider of Aetna vibod to this vetrow, anNss rich mkd0vary te CIA b WOO breach of INS Conkad or gross nogfpence of Ageral R. ATTORNEY'S FEES; COSTS: 1n ar�' II''pa�lion arlskq out d this Cortimct. the prevailing party kin such litigation which, for the papoose of this Standard, Shea include Be1W. Buy* fialkq broker. BlWe broker and any subagats to the ictig broke or Buyer's broker, shun be entniod to recover reosonable altaney's loco ant cost$. S. FAILURE OF PERFORMANCE: I Burr rate b Pertoem "* Contract within the Ina spocYked. nckwdxq payment of Al deposh(t), to duposil(s) Paid by Buys ard.doposilis Weed to be paid, may be retained by or for the account of Senor as agreed upon k0doled deenw.s, consideration for the execution of this Contract end In nett settlement of an, china; wlhaxehpon, Beyer and Soda shah be referred of all obrgotbns under Contract or Seller, at Seller's option, nay procood h equity to trtorce SeWs Aphb tandor this Contracl it, for any reason other than 4Mre of Sonor to make Scam's tthe nwdulable after dikgent effort Sena foias, neglects or refuses to perform chi Contract the Burr may reek owirr pothormance or elect to rocdvt to return of Buyer'# doposa(a) rills et thereby w3Nkq vty Action for damages resulting from Sell brooch T. CONTRACT NOT RECORDABLE; PERSONS BOUND, NOTICE: Neither tits Contrx, nor any notice 0f IL wall bO recordod In any pubic records. This Contract stud bind an ihre to the berWl of am polies and their succeesm 6 Interest. NmmOvor ea COMsn1 permits• singular shelf kcArde plural and one gender Saari inCkrde a Notice givah by 0 to the attorney for ant parry Thad be as ellecifva as I glow try or to that party. U. CONVEYANCE: Sella laud corwov dlle to the Real Properly by slatalory warranty, trvdee's, personal rvvvsenIslire'o or guardian's deed, as sprroprUle to the status of Seal- suby ci sty to manors Catafned in Paragraph W and those ahawlse arxepled by Bvyer. Person4ty shall at reouesi of Burr, be transfarod by an absohlo bill 01 Solo with warrant of late, subrod"to ouch mallers as may be otherwise Iwovlded for heron, V. OTHER AGREEMENTS: No prnr or {resent agreements or rnprofervatlenW alma be ttnd;np Won Bvyor or Scsor unbar inck4ad n INS Cawact No maliti;al;On or chongs i r this Contract stud be valid or b;ndarg Won the parties unless In wnllleg and erearled by the party or parties Inwded to be bovd ty it. 95- 66 ADDENDUM TO CONTRACT FOR SALE AND PURCHASE (the "Contract") ' TMS ADDENDUM inade" and entered into this — day of October, 1994, between 1717 ASSOCTA.TES, hereinafter referred• to as "Setter" and UNITED FOOD, INC., a. Florida Corporation, hereinafter referred to'as "Buyer", and is incorporated in and made a part of that certain Contract for Sale and Purchase of even date herewith providing for the sale'and purchase of certain real property located at 1717 Northwest 7th Avenue, Miami, Florida (the "Contract"). 1, CONFLICTING TERMS: ­The terms of this Addendum shall prevall over any conflicting terms contained within the said Contract. 2. BUYER'S PAYMENT ONBBHALF OF SELLER: At the.time ofclosing hereof, the Buyer shall pay, on behalf of the Seller; 'and receive a credit against the purchase price, for (i) all real estate taxes due and owing by Seller hereunder, including Seller's pro rata share of real estate taxes for the year in which title to the Property shall close, and (ii) Setter's attorney'$. fees and costs. Buyer shall further be responsible for (but receive no credit) the other expenses of closing set forth elsewhere herein, including Section "K" of the "standards" in the printed form to which this Addendum is annexed. 3. PLIRCHASP. MONEY MORTGAGE: The Purchase Money Note and Mortgage to be given by the Buyer to the Seller at the time of closing hereof is to be for a term of five (5) years, in such principal amount as will equal the purchase price for the Property less those expenses as set forth in Paragraph 2 of this Addendum to be paid by Buyer on behalf of Seiler. The Purchase Money Note and Mortgage shall provide for repayment of the principal balance thereof in constant monthly payments which shall be sufficient to amortize said balance with interest at seven and one-half percent (7-1/2%) per annum over a twenty (20) year term. The Purchase Money Mortgage Note shall, however, mature at the end of the fifth year following the date of closing whereupon all unpaid principal and accrued interest shall be finally due and payable. The other terms and provisions to be contained in said Note and Mortgage shall be those customarily found in mortgages, mortgage notes and security agreements generally utilized by savings and loan institutions or state or national banks located in Dade County, Florida. 4. AS IS: The Property is being sold by Seller and purchased by Buyer in "as is" and "where is" condition. Seller makes no representations and/or warranties whatsoever, express or implied, as to the condition of the Property and the improvements thereon. Seller makes no representations whatsoever concerning any compliance with or violation of zoning, building, fire, health, environmental or other statutes, ordinances or regulations relating to -the Property, or its existing or intended use. Buyer expressly agrees that the Property and improvements thereon are being purchased by Buyer in "as is" and "where is" condition and that Seller is under no obligation whatsoever to make any repairs, replacements or renovation of any nature to the Property. Seller is not bound by any. representations pertaining to the Property furnished by any real estate broker or other person unless the same are set forth herein. In accordance with the foregoing, Standards C, D, N and W are deleted from the Contract. 9 5 _ 66 �� 5. TITLE INSURANCE: At least ten (10) days prior to closing date, Seller shall, at Buyer's expense, deliver to Buyer or Buyer's attorney, in accordance with Standard A, a title Insurance commitment and, after closing, owner's policy of title insurance. 6. RADON GAS: Radon is a naturally occurring radioactive gas that, when it has accumulated In a building in sufficient quantities, may present health risk to persons who are exposed to it over time. Levels of radon that exceed Federal and State Guidelines have been found In buildings in Florida. Additional information r_egardfng radon'.and radon testing may be obtained from your county public health unit. 7. BROKER: Said parties agree that no broker or real estate salesperson brought about this Contract For Sale and Purchase. In the event of a claim for a real estate commission by any party, the party responsible for such claim shall indemnify and hold harmless the non - responsible party. S. PLACE OF CLOSING: Closing shall be held at the offices of the attorneys for the seller, Boose Casey Ciklin Lubitz Martens McBane & O'Connell, 515 North Flagler Drive, #1700, West Palm Beach, Florida 33401. 9. COUNTERPARTS: This Contract may be executed in several counterparts, each of which shall be deemed an original, and all of such counterparts together shall constitute one and the same Contract. IN WITNESS WHEREOF, the undersigned have executed this Addendum as of the — day of October, 1994. BUYER: UNITED FOOD, INC., a Florida corporation By: Albert Fernandez, President SELLER: 1717 ASSOCIATES By- -OK � 95- 66 �'te�•.i.':'uq.I�1 1`i�"�rx'0�►:1<Nsi•�"l:.r: •.'i'(±!''•+:yR^PtNrr• br . va1..• Y... .. ...1.....+..-.. _ 0611604 Nla �y y. �y 1.1•-• M �OCT IT$ r111 •&-ft ! ♦Y ♦ • w ..• ' >•G.,O 1 ,t11,11 d.I. /r d,•; ,•� pttabt'r t to t•IJIi.13titUttll DAVID R. fClILOSSNAN.•JOSEPH i C..SCIILOSSFIAN, and ARTHUR J. SCIII sS%MN, Id its- 111Ynd.. of .. Dade 1a fl.. •bole .•1 f Inrld'1 rwrf III% ••1 Ow 1,1.1 setoff solid 1717 A.MQUAT15. a p;Irtnct:,hir I I „f III.. Cos'lefft /d Rev YAik 14 111r• %Into• I-( New York hhn.. ►I.a1 0111140; f.1Jdr.Y, I. e!o Hatllan L. •Fhrl lrh Apflartatan. Ltd.. Kulta 116in1 i Penn hi.fa.f. I:ry ruck, Rtw York 10119. all t11n1y Id the ..%wid 141If Witne sett. 11IN1 111r• •n11J frnrlle: 1.( IIn• #flee (fort Irn Ijssel IM . 1.pn1.4poiffW1 of the alfm of 1 TER AND NO/100 ($10.00)- `',i 11 rrtrrrrrr-rrrrrrr-rrrr�-rrrrr.•r-err err rr rYror�t.�t✓r�JeM Yl�. M thcgn in (in"d rMI-1 hr fire .seal skiff y I1( fin• .w all.# pool if" 1NW1M 11•JY'r.Y1( ptiMri.r �rthlWl ;e rdN.+l 4 prgalrll t4jhj.1111.r1 I1...1 en1iJ f.. 11.1• .self# /M/M, al ►�Ia w1 n1111 (4Mt its is • IIM4 fW101114 IOU" 11 Ilk' 1.•1114fy.111 IJ#- F*144 1./•14 .11111111' N.111 I.e111aj,In f11N 1.1.1111Ir I4 Dade ' fore 1d fiorida nrw.e Lots 1..2, 3. 4. S. 6. 7 and the South 2 feet -of Cot 8, in Block 5 of ROBERTS AND GRENTNER A' OMON. according to the Plat thereof. as rew►ded in Plat Book 10. Page 56 of the Public Petords of fade County, Florida. Subject to conditions. restrictions, limitations of re:Ord, teats for the year 1981 and subsequent years, and applicable toning ordinances. Subject to Lease dated May 18, 1972, between DAVID R. ,CHLOSSMAN. AEPH E. SMOSSHAN and ART11UR J. SCHLOSSIUUJ, as Landlord. ,and ON FAIR STORES, INC., as tenant, as amended by Addendum to 1—se, undated. and First ArOndment to lease dated May 18. 1972. The Grantors certify that this proparty is not and never has been their homestead, it being a cowereial building. skuNo apill" "ago 4 ► O No 1a1r1j, AwkM. kWh no" JUCllAAb R aN a U& ' OAS CIMM1 Wulf Anti el., said part ies of (G..l,•rt r-,1 d„ i,rfol,r i/dlr „nrrnnl 16 Wl.. its .a1d G1n4 and kgfl 4401414. Iam# spl anit the I04'rut 4111nf III all (1.'Lllr,! 0111011f.1e W ]A vim"S *Mf, , n, ..,,I ,,n,i % 1d Ap Wit pill( ho Y1 hnroo it, their hji OIJ �kl I�P jot 911d YP�► �!i'c� tiluil'P li'fl��Pfl. �1 � � �, ��a� �� tfrill'Pcr�i IA i11N INI'l#'I!I � III 1f f ,i It�1 1( ``1�f111111II(1es � it I 'r1 U,11iNi It j,1+111111111IIf�1 11111111111.111'fill off it 41 1 iIA111 ill R111w. S� 045) out, wr .na •wan. ' 1:1101f cam A" the sed potf Its o1 ff".lmt ,•I.rf .Gt 6°0Ity hilly ftv "Snf 11W 1AP 10 Mt-( 1drM. 4104 a,,fl 411°114 11rr $QMI 40PAMS1 A# leu-iuNIAtIaa of all pow-"" arkrra #wtw 1A Vim *mf, . rtx .aa! p,,.t Ig lil tha (hill pnfi eta rti htr(Ille i.l their s Al 'Jot all yrai ifr�i Qflll('1' Q�I�t�t(... /ti t i • � � ,h,� , ,ail ��«cat, , ihdl Id. 1411114 IA If. MOr.Na ►' ,,Is�llllllfllll � If11�If11fl1faatita !� 1 C� Stilt, N FGI IUM. Il�:kf I11' t I'k III1' I�11 �� IN ilff V, to 41sir doh alh,vell IA the `lair Altv'11 j4I I�+ (���dtlt'(('+ull) it, lilt AnpiMmI1, �I mDil tpj jftl I JOSEPN L, S��l4SS�N, aid AR1I�±R �, S�NI�SS��N, �IMkfl Nt fh► I��r tlrNlt���! ao�l M � h,r•Nll! A? 1,41(wft 101411ohl &I they k► mt i � � , 1A.<. ww a%a1 NY °,tr yt,rl 16 U04 N1lX/ht tn. ha-1 An.1 lf+ u1 +mod .w rh. l'.nlr•.. and %t•r. 1.11 afw• •�rd..1�N r October A n M 81.16 q V;1•' TA My comIssfon expires: Notary Pv p '7r state J!- � 1"qe %•.f�v��K�llhtn!YtO;�=tits7l `S►y' �:. It i!►l� lminlnrr�� pn�tmr! �1'� , , . I , F�j��� �f t id�n'u � ,r• � ..I I.... I .�?:t r• f a.« a.wv alsl �•In aralani.Ra M 7v M, q-r —2 a I `f-. p 3 171 HNI 13.1 I %wr or Hr.RINY CLRTII.. 014t day. bel'.r. an off Icer duly —In tile state Aftorexald -in-, In the ('411,11tv t.jVto ficimowledow"11- apprAred DAVID R. NCHLOSSMAN. too -A- know to two' 041 P"rion degeril,rd tedthr. •Itora-sto-Ing l000f room,nt -,rld tw- M i'nohil"diff-4 -beW(v OK I thatImAg 3- R 4v "T. ey hAnd and official $'ral in t1w Colinty,jinti..stAt, * is A(Ofvlvtid this J90--d4i of !7�js�j I \.. "... * I _45 - 7t..'gisi -go 41 k It os Immim, 0 a 0169M 4114111111111 0 up 140M 01* OWAIT 03UM n 95-. 66 04 7, PERSONAL FINANCIAL STATEMENT As ol • • • 1 Complete thlstormtom(i)eacliproprietor,or(2) each llmltcdparinerwho fvinsaninterestInd each gene rillpartner,or(3)eachslockholder, or(� any person orcnlitVprovldinga quiranty.on lihetoan: Carr. Duarte Km.• i/1:d . : 1 J.... • ..• •1 •.1 . • ' r LaP�J azT*� 77 I M. ./ 11 • • . I I •. 1 111 11 1 1/1 11 I 1 1�1 Ill • I�Ij1�1�I�1 / •r : • 1 1 1 I :�• 1 I.I •I 11 Sectioni. Source ofincome. . 1 ContilwontLinbilities. I�1 . I. / 11 .,.,.,.. "—_ "p1; :. .. . �.. a 1"•• .. .- ...�.....#>f:;:i<..Ss..�f�...nb....w,e.�.;:a:}1......NSF..:.::L.a.....ou..,i3':'..�.+.ic.:......:�:'n.....o........: .::..._. .. {�i':'7.' x uV�i:�I.'.':.';l"A':� jt';�i::.%Ielreti'�711•X'.•(! i.;h'Y�zygt' �.�,}y •./li:.: J { {V:erY';�:..1,: . i it.._,,,... t=r 1 �. ��;d$'All.'.w " Bl•31 L■'�E ] 1�3 y,,,tl lXil f 1 f ...i:'e.[= t irk � t�t...w 1� Section il. Notes llpy.ible to Bonit and Otters. (Usealtac/nnents ifnecessaiy: %ch attachment Inr/s/ Le identi full asa part i)f 1 lhfsssla�gl�rinrnt and Ognrdl. z,z z ] � 3� a -� fF�"Ait 11 j: C a✓� � ��� �•{�..l X�'1 a 3AEa rY-.S�T.i�l i�l�'.��1 �. 'r i X a"lX , I la "Llinl.la. �a> L 1?1iT: M .aLiu) Spa .X?L'lfl . �'lX L S�rIi1C tli. Sectionlii. StocicsondBonds. 1.: 1: ..(Use attachmentsifnecessary: slnlrmrnf •:11: ' :..l li Each attachment must beidenlifcslasrrpnrtofthis and si •nrd) '1/'.•hl:l.�: ...,: 1.1/•91:1•.- �• •11• .I• •• • •- I 1 111 11 III II II 111 11 DI •• 1 •• 1- 111 I III 11 1 111 /1 fo� 55- 66 Section IV. )ROOEStnteoWned. (List each parce), sepa'ratcly. Use attachments ifncccssar3.. 111;0= UrT, "I J7. fie 17 SectionV..41)tlierPersorinlPr,oportyti.liaoLllcr,tLssets. (Describe, frndifnipyisl;lct)gcasserurity, state nine and address oflicn 'horifer, of hounfor licit. forinvofflayincitt, andifdclingrmril,t7eseribciTrJrngarrrcy. Section.W. -Milini(Maxes. lien offache,01 Other IA,11bilitics. (Describe ill detair) (Describe in detail) sectionIX. Ufalusur.incolleld. .(Give face arnount and cash surrender value ofitalicies T vaine ofinsurance collipally and henefiWarips)., are ;mde f suit In the statements to r the purpose *(either obtaining a loan or guaranl6elng a loan. I understand FALSE statements may d1leauallfication6of MY so-QU—cation for credit. Date., Soclal Security No., _26a- Date: Social SacuritY No. OCT 3 1 EC" Reutte&-August, 1994 MIN CAMAL Sooe 1,,c:MCDrpf&d" n 11 FORM 1040 - U.S. .DIVIDUAL INCOME TAX RETUi 1993 se IRS :.7. OMB, No 545-0074 abel . ALBERTO FERNANDEZ Your SSN ther- r type ST.DOMINGO,DOM.REPUB, _. RESIDENTIAL ELECTION. Taxpayer.$3? [X] Yes [_] No COPY CAMPAIGN I Spouse $3? [X] Yes - No le- -------------------- ------------- --- --------------- 'ILING, ;TATUS 2 [X] Married filing joint return (even if only one•,had income) 3 [_] Married filing separate.'Enter-'spouse's social:�security number above and full - name here. 4 [_] .-Head of.. household. Enter .child's name 5 [_].Qualifying widower) (year spouse died 19). ------------------------ :XEMPTIONS ia....... [X] Yourself 6b [X] Spouse 6a & 6Yi ..:. 2. ;c Name If 1 or I Relation-IMos 16c•Children (Check if under 1) older: SSN -ship homel lived with.. 6c Children lived out... 6c Other.... 5d Child claimed under pre-85 agreement, check —here ............ 5e Total number of exemptions claimed .......................(6e) 2. ---------------------- -s.;------------------------------------------------ --- 7 Wages, salaries, tips, etc........... ...... ..(7) 48,000. 8a Taxable interest inc, Attach Sch B if over $400..(8a)_ 1,251. INCOME b Tax-exempt interest income ..... (8b) 9 Dividend income. Attach Schedule B if over $400.... (9) 10 Taxable refunds, credits of state/local inc taxes.(10) 11 Alimony received..................................(11) 12 Business income or (loss). Attach Sch C or C-EZ... (12) 4,619. 13 Capital gain or (loss). Attach Schedule D.........(13) 14 Capital gain distributions not on line 13.......... (14) 15 Other gains or'(losses). Attach Form 4797......... <15) 16a Total IRA b Taxable amount ..... (16b) 0. 17a Total pens b Taxable amount ..... (17b) 0. 18 Rents, royalties, partnerships, etc.(Schedule E)..(18) 19 Farm income or (loss). Attach Schedule F..........(19) 20 Unemployment compensation .........................(20) 21a Social security benefits .._...(21a) bTaxable amount..................................(21b) 22 Other income. List type and amount. Exclusion s) from Form 2555 ...........(22)-52,619.' 23 TOTAL INCOME ......................., ..............(23)_ 1,251. ----------------------------------------------------------------------------- ADJUST 24a Your IRA deduction.: ............................(24a) MENTS b Spouse's IRA deduction..... ...................(24b) 25 One-half of self-employment tax...................(25) 327. 26 Self-employed health insurance deduction .......... (26) '?'O 27 Keogh retirement plan and SEP deduction....... ..(27) 28 Penalty on early withdrawal of savings ............(28) INC 29 Alimony paid. Recip SSN: ..........(29 30 Add lines 24a thru 29. TOTAL ADJUSTMENTS ......... (30)27. •• , ., An 7T7CrPPn nPr)SS T1irnMR .. (31 t 924. t ,' )rm 10407," Pagp,•� -------------- ---------------------------------------------------------- 32 Amount from line 31,.(adjusted gross income).......(32) 924. 33a Check- if [_) .YOU..65./older .[_] Blind; SP 65/older. [_] Blind....(33a) b' Independent of 1someone;:else;, qhi ck•••here::.[_] c If-MFS &.spouse..itemizes%dual'-status alien.[_] kX 34 Larger of ITEMIZED ...ors_S_TANDARD .DEDUCTION.....`... (34 ) 6,200.. )MPU- 35 Subtractf7line- 34; from. ;�:irie 32 ..:i:l:'..:....:........ (35 ) -5.276 . 4TION 36 �. . xf:rin 32 is� $.81,350 or.. ..less';'. ,mui-i ,$2,350 by In 6e.-(36•) .. 4.700. 37 n ;36; from -35 ( zero -if minus) . (37) •- TAXABLE. _INCOME . .Sub "In' . 0. 38 Tax,::.: .:a [X_]•,Tax,'Table .b"c'' ] 'Tax.Rate Sch c[_] Sch D r Tax :Wks ,d_ J_], Form ;861,5 a Form 8814 ..... (38) . 0. 39 Additional .taxes : a , Fm 4,97..0 , [s] ' "b`Form 4972 40 Add lines:8,.and 39..:.:..:.....:.:..:...:.........(40) '0. 41 Credit for. care-(Form.2441).. ..'(41). RED- 42 ,child/dependent . Credit -for the elderly -..or disabled (Sch R) ... .. (42) TS 43 Foreign tax .credit.-Attach.Form 1116....%......... (43) 44 Other Check•. if`from..:`.a Fo1 3800 [_] .credits: b.Fm 8396 [_] c Form 8801 Form .(44) 45 .:Add. lines 41. through.. 44..-.. ....... ..... (45 ) 46 Subtract line 45 from line 40 (zero if minus).....(46) 0. 47 Self-employment tax (Sch SE) ...(47) 653. THER 48 Alternative minimum tax. Attach Form 6251.........(48) AXES 49 Recapture taxes. a Fm 4255 [_]b 8611[_]c 8828[_]..(49) 50 Soc-Sec/Medicare tax on tips (Form 4137).... :..... (50) 51 Tax on retirement plans, IRAs. Attach Fm 5329._..(51) 52 Advance earned income credit payments from W-2.... (52) 53 Add lines 46-'52. TOTAL TAX. ....(53) 653. ---------------------------------------------------------------------------- 54 Federal income tax withheld. Form(s) 1099,Ck,[_]..(54) 1AY- 55 1993 ES & 1992 return amt... .4.... ..(55)- LENTS 56 EARNED INCOME CREDIT. Attach Schedule EIC.... ..(56) 57 Amount paid with Form 4868 (extension request) .... (57) 58aExcess Soc Sec, Medicare and RRTA tax withheld ... (58a) 58bDeferral of additional 1993 taxes. Attach Fm 8841(58b) 59 Other payments.a Form 2439 [_] b Form 4136 [_] ... (59) 60 Add .Ins 54-59. TOT PANTS. ..... .....(60) 0. :EFUND 61 If In 60 is more than In 53, amt you OVERPAID.....(61) )R 62 Amount of line 61 you want REFUNDED TO YOU.. ...... (62) 0. AMOUNT 63 Amount of In 61 APPLIED TO YOUR 1994 ESTIMATED TAX(63) °OU 64 If line 53 is more than 60, AMOUNT YOU OWE........(64) 676. )WE ----------------------------------------------------------------------------- 65 Estimated tax penalty. Also include on line 64....(65) 23. Jnder penalties of perjury, I declare that I have examined this return and accompanying schedules & statements, •& to the best of my knowledge & belief, :hey are true, correct, and complete. Declaration of preparer (other than :axpayer) is based on all information of which preparer has any knowledge. 3IGN Your signcture Date. Your occupation iERE. �> ' 1-l� Supervisor ��,.�.... tom./�•'��i ••�. � . ,(/ !�/L :, `? v= Spouse's signa•_-ure(if joint) Date. Spouse's occupation ?AID Teacher kRER S1 e Date Self-emp? Preparers SSN 75E Firm ` s name VI8,1b jJQGYYE'�ING SERVIC-29. r' E . I . No . ONLY i Address 59.7In,_AII / FERNANDO `TIDAL ZIP code 6 (/ 181 For Paperwork Redu6J:i26W8A7&k_ Notice see Separate Instructions 1330 CORAL WAY, MIAMI FL 31145 arm 2210 L kRPAYMENT OF 1993 * 06 +. 'ESTIMATED TAX BY INDIVIDUALS AND FIDUCIARIES OMB No. 1545-�0140 ' =: ALBERTO.& MARGARITA FERNANDEZ ' -------------------------------------------- --------------------------------- ART I REASONS FOR FILING: If 1a,b1c or d applies, you may be able to lower:' r eliminate penalty. But'MUST,check boxes that apply `& file Form 2210 with ax return. If le or f applies., check box & file 'Form -2210 with tax return.. Check whichever,boxes.apply (if none apply, see instructions): a [_] You request a WAIVER. .See instructions for WAIVER OF PENALTY. b [_] You .use the ANNUALIZED INCOME INSTALLMENT METHOD. See 'instructions,." 9,* c [_] Had Fed ,inc tax.:withheld from wages .& you treat it as paid for -'ES ---tax-. purposes.when,was ACTUALLY WITHHELD instead of on payment due dates':: d [_] (1) You made ES.tax payment for 1990, 1991, or 1992 (or.were'charged an estimated tax penalty for any of those years); AND ( 2 ) Your AGI is ..more. than $75, 000 (more than -$37; 500 'if MFS) , AND (3) Your 1993.,MODIFIED AGI exceeds your 1992 AGI by•more than $40,•000 .(more than $20,000 if:married filing separately), AND (4) Your. 2nd,. 3rd, or'4th required installment -:(line 21) is based on EITHER your 1992 tax or 90% of your 1993 MODIFIED tax. e [_] Conditions 1,2,& 4 apply to you & 1993 AGI-exceeds 1992 AGI by more.. than $40,000 ($20,000•MFS). Attach computation -'of 1993 modified AGI. f [,] One or more of your required installments .( line •21) are'' based on, your 1992 tax & you filed or are filing a joint return for either 1992 or 1993 but not for both years. •-----------------------------------------------•-------------------------- 'ART II ALL FILERS MUST COMPLETE THIS PART ------------------------ : Enter your 1993 tax after credits (see instructions) ....... (2) 3 Other taxes (see instructions).............................(3) 653. 4 Add lines 2 and 3................... .......................(4) 653. 5 Earned Income Credit.............................(5) ##.########## 6 Credit for Federal tax paid on fuels ............ (6) ############ 7 Add lines 5 and 6........................... ..............(7) 8 Current year tax. Subtract line 7 from line 4..............(8) 653. 9 Multiply line 8 by 90% (.90)....................(9) 588.############ 10 Withholding taxes. DO NOT include estimated tax payments..(10) 11 Subtract line 10 from line 8. If less than $500, stop here(11) 653. 12 Tax shown on prior year (1992) tax. (CAUTION: See instr)..(12) 490. 13 Enter the SMALLER of line 9 or line 12 (see instructions).(13) 490. ----------------------------------------------------------------------------- PART III SHORT METHOD (CAUTION:Read inst to see if you can use short method) -------------------------------------------------------------------------=---- 14 Enter the amount, if any, from line 10 above .... (14) ############ 15 Enter total amount of ES tax payments you made..(15) ############ 16 Add lanes 14 and 15........... •... .............(16) 17 TOTAL UNDERPAYMENT FOR YEAR. Subln 16 from In 13.(If 0 or less,DO NOT file Form 2210 unless box le or f is checked).(17) 490. 18 Multiply line 17 by.04655................................(18) 23. 19 - If amt on In 17 was paid ON OR AFTER 4/15/94, enter -0-. - If In 17 was paid BEFORE 4/15/94, make following computation. Amount on No. of days paid line 17 X before 4/15/94 X .00019 .......(19) 0. 20 PENALTY. Subtract In 19 from In 18. Enter result here & on Form 1040, line 65/Form 1040A, line 33..( )......(20) 23. )181 For Paperwork Reduction Act Notice, see Separate Instructions � r`J5- 66 1; arm 2210 1993 * 06 ALBEO &'.MARGARITA FERNANDEZ RT ARTIVREGULARMETHOD(See instructions if you are filing.Form 1040NR.) ECTION A - FIGURE UNDERPAYMENT ' 1 REQUIRED INSTALLMENTS. ---------- --------------------- If box lb applies, enter Sch —PAYMENT DUE DATES B, In 26. If Sch A and box `lb ,. _--- -------- does not apply,. enter Sch A, ( a ) ' (b ) ( C. line 51..81 or 19 whichever 4/15/93 6/15/93 applies. All others, enter.-. ---------- ---------- ---------- ----------- 7. ...7�_. 1/4 of line_13, Form 2210(21) - 2 ES tax paid and tax withheld. --==------ ---------- ---------- ----------- Col(a),enter,.amt on In 26(22) 3 Enter amount, if any, from ----------- ---------- ---------- ------ line 29_of previous col..(23) ##########- ---------- 4 Add lines 22 and 23......(24) ##########. _. ---- 5 Add amounts on lines 27 and --=------- ---------- ----------- --------:.__ -------- 28 of previous column.... (25) 28 ########## 6 Line 24 less line 25 (col(a) =--------- ---------- ---------- -------- only, amt-trrom line 22)..(26) 0. - 0. 0. 0. 7 If In 26 is 0, sub In 24 from ---------- ----.�_____ ____----- ___________ In 25. Otherwise, enter 0(27) ########## 0.. 0. ########.### 8 UNDERPAYMENT. If line 21 is ---------- -=-------- ------=--- ----------- equal/more than line 26, sub line 26 from line 21.....(28) 9 Overpayment.If In 26 is more ---------- ---------- ---------- ----------- than In 21, sub In 21 from In 26.Goto In 23 of next col(29) •---------------------=------------------------------------------------------ ;ECTION B - FIGURE THE PENALTY (Complete lines 30 and 31 of one column •---------------------------------------------------------------------------- before going to the next column.) 4/15/93 ---------- 6/15/93 ---------- 9/15/93 ---------- 1/15/94 Days Days Days ----------- Days 30 Number of days FROM the date ########## ########## ########### shown above line 30 TO the ########## ########### date the amount on line 28 was paid OR 4/15/94, whichever is earlier ..... (30) ########### ########### ----------------------------------------- 31 Underpayment on ########## ########## ########### line 28 X ########## ########### Number of days on ########### line 30 / 365 X ########### .07......................(31) ------------------------------------------------------------------------------ 32 PENALTY. Add the amounts in each column of line 31. Enter the total here and on Form 1040, line 65 or Form 1040A, line 33.... .( )......(32) ............................ 181 For Paperwork Reduction Act Notice, see Separate Instructions ..1-n >CHEDULE B INTERE. SAND DIVIDEND INCOME 1993 * 08 w. Form 1040 ) OMB ' i4o. 1545=0074 ALBERTO & MARGARITA FERNANDEZ .-------------------------------------------...T----------------------------- ?ART I INTEREST INCOME AMOUNT •1 List name .of. payer.; -..if -any interest is from a seller -financed mortgage, see instr & list''first. Also show buyer's SSN and address.. INTEREST :Total Bank INCOME , 2 Add the amounts. on line 1.44:.:60..:.000...4.0.(2.) 1,251. 3 Excludable interest on series EE.'U.S. savings bonds issued after 1989 from Form 8815,`ln 14. _ You MUST attach Form 8815 to Form 1040,........(3) 4 Subtract line 3 from line 2....................(4) 1,251. ----------------------------------------------------------------------------- PART II DIVIDEND INCOME AMOUNT 5 List name of payer. Include gross dividends and/or stock distributions. Any cap gain distributions and nontaxable'distrib will be deducted on lines 7 & 8. _ (5) DIVIDEND _ INCOME _ 6 Add the amounts on line 5......... ............(6) 7 Capital gain distributions. Enter here and on Schedule D........ — ...................(7) 8 Nontaxable distributions .......................(8) 9 Add lines 7 and 8..... .... ...................(9) -------- 10 Subtract line 9 from line 6...................(10) 0: -------------------------------------------------------------------- 11a At any time during 1993, did you have an PART III interest in or signature or other authority over a financial account in a foreign country, such FOREIGN as bank/securities account, or other?... ... ..Yes [_] No [_] ACCOUNTS b If 'Yes', enter the name of foreign country AND TRUSTS 12 Were you the grantor of, or transferor to, a foreign trust that existed during 1993, 9 5 — 66 �p whether or not you have any beneficial vAc: r 1 No f 1 ;CHEDULE C.', PROFIT t LOSS FROM BUSINESS 1993 * 09 Term 1040) (Sole Proprietorship) OMB No. 1545-0074 MARGARITA FERNANDEZ 1c - - -- Principal business product/'service B Principal bus code 'eacher 8730 Business. name.. If.no sep busn name, leave blank. D'Employer ID number" iaraari.ta, Fernandez 265746682 address..;.;.... ~... P.O.BOX 149-9 LOS JARDINES City, .town, state And ZIP., `ST . DOMINGO , DOM . REPUB 11 --------------------------------------------------------------------- Accounting method: 1 [X] Cash 2 [_] Accrual 3 [_]'Other... ...... > _ 3 Method.(sj­used to value closing inventory: 1 [_] Cost........ 2: (_] LCM 3 [_] 'Other 4 [A] Not -apply I.i,n 3 Was there .any change in determining quantities,' costs, or valuations between opening/closing inventory?.. Yes [_] No I Did you 'materially participate' in the operation of this business during 1993? If 'No,' see instructions[X]Yes [_] No 7 If you started/acquired this .business during 1993, check here.[_] - PART I - INCOME ----- j r 1 Gross receipts or sales. CAUTION: If income reported on Form W-2 and IStatutory'employee,I check here ...... j_]....(1) .4,820. 2 Returns and allowances....................................(2) 3 Subtract line 2 from line 1........:..:...............:...(3) 4,820. 4 Cost of goods sold (from line 40)...........:.............(4) 5 GROSS PROFIT. Subtract line 4 from line 3...... ..........(5) 4,820. 6 Other income, incl F.od & state gas/fuel tax credit/ref und.(6) 7 GROSS INCOME. Add lines 5 and 6...........................(7) 4,820. -------------------------------- ---------------------------------------------- PART II - EXPENSES (CAUTION: See line 30 if you used your home for business) ----------------------------------------------------------------------------- 8 Advertising ............ (8) 19 Pension and profit- 9 Bad debts from sales sharing plans .... (19) or services.............(9) 20 Rent or lease: ############ 10 Car and truck expenses(10) a Vehicles, machinery 11 Commissions & fees .... (11) and equipment.(20a) 12 Depletion.............(12) b Other property(20b) 13 Depreciation and section 21 Repairs & maint..(21) 179 deduction (not 22 Supplies ......... (22) 201. included in part III).(13) 23 Taxes & licenses.(23) 14 Employee benefit 24 Travel, meals: ############ programs..............(14) a Travel ........ (24a) 15 Insurance (other than b Meals and health)...............(15) entertainment.(24b) c 20% of line ############ 16 Interest: ########### 24b subject to ###########,# a Mortgage ........... (16a) limitations ... (24c) b Other..............(16b) d 24b minus 24c.(24d) 17 Legal and professional 25 Utilities ........ (25) services..............(17) 26 Wages -less job cr(26) 18 Office expense ........ (18) 27 Other expenses. . . (27 ----------------,----------------------------- ; - 28 TOTAL EXPENSES. Add lines 8 through 27 in columns. -........ (28) 201 29 Tentative profit (loss). Subtract line 28 from line 7....,(29) 4,619. 30 EXDenses for business use of your home. Attach FORM 8829..(30) 0. 31 NET PROFIT/(LOSS). Subtract line 30 from line 29.... „ (31) 4,619.&A" 32 If loss, check the box that describes (32a) All at risk ••­; ­ rPct-mPnt in this activity (32b) [_] Some not at risk 'chedule C - Page 2 1993 * 09 Form 1040) MARGARITA FERNANDEZ •---------------------------------------------------------------------------- 'ART I TJ - COST. OF GOODS SOLD •---------------_-------------------------------- ;3 =---------------------------- Inventory at beginning of year ................ ............(33) 0. ;4 Purchases less cost of items withdrawn for.personal use..(34) 15 Cost of labor. Do not include salary paid to yourself .... (35) 16 Materials and supplies ................. ................. .'.(36-) 17 Other costs ......... ..................................... .(37)' 18 Add lines 33 through 37..........................0.......(38) 0. 39 Inventory at..;end of year...............:....:.............(39) 0-., r0 COST OF GOODS SOLD. Subtract line 39 from line 38........(40) 0. 'ART IV - INFORMATION ON YOUR VEHICLE. Complete this part ONLY if you are :laiming car or truck expenses on line 10 and are not required to file 'orm 4562 for this business. ----------------------------------------------------------------------------= E1 When did you place your vehicle in service for business? 62 Of the total number of miles you drove your vehicle during 1993, enter the number of miles you used your vehicle for: a Business . . . . . . . . . . . . . . . . . . . . . . . . . . 0. bCommuting ........................... 0. c Other ............................... 0. E3 Do you (or your spouse) have another vehicle available for personal use? .... ......................[_]Yes [_] No 14 Was vehicle available for use during off -duty hours?..[_]Yes [_] No 15 a Do you have evidence to support your deduction? ..... [_]Yes [_] No b If 'Yes,' is the evidence written?..................f 1Yes f 1 No ?ART V - OTHER EXPENSES. (Not included on lines 8-26 or line 30) ----------------------------------------------------------------- 16 TOTAL OTHER EXPENSES. Enter hI ere and on page 1, line 27.(46 181 For Paperwork Reduction Act Notice, see Separate Instructions 12HEDULE SE Form 1b40) ,ELF -EMPLOYMENT TAX 1993 * 17 OMB No. 1545-0074"- MARGARITA FERNANDEZ ---------------------------------------------------------------------------- ECTION,A - SHORT SCHEDULE SE 1 Net farm profit or (loss) from.Schedule.rF, line 36, and farm partnerships, Schedule K--1.,(•Form 1065), line 15a...(1) 0. 2 Net profit or -(loss) --from .-Schedule _C, .line 3.1;' . Schedule C-EZ, line 3; �and.Schedule.K-1.(Form 10.65),; line 15a.. (other. than .farming) ...Ministers ,and members. of religious orders see .page SE-1•for amounts to report.'. . . (2) 4''619. 3 Combine -lines _1.:..:..:..........a.....:...:........ (3) 4.'619. 4 NET EARNINGS FROM SELF-EMPLOYMENT. Multiply line 3'by " 92.35% (.9235). If less than $400,-.DO NOT file this schedule; you -.do not -owe self-employment,,,tax............ (4) :4;266.- 5 SELF-EMPLOYMENT TAX. If the.:amount on line 4 is o $57,600 or less, multiply -'.line 4 by 15.3% (.153) and enter the.result.=-,.... _ o More than $57,600;,but less,than.$135,000, multiply the'..amount in excess. of $57,600 by 2.9% (.029j. Add $8.;.812..80 to the". result. -and enter the total. o $135,000 or more, enter $11,057.40. Also enter on FORM 1040,'LINE 47. (IMPORTANT: Enter ONE- HALF of the amount from line 5 on FORM 1040, LN 25.)....(5) 653. 81 For Paperwork Reduction Act Notice, see Separate Instructions 95 ct 76 �HEDULE SE ,ELF -EMPLOYMENT TAX 1993 * 17 Form 1b40) OMB No. 1545-007'4*'. MARGARITA FERNANDEZ ---------------------------------------------------------------------------- ECTION,A - SHORT SCHEDULE SE .• V - - - - - - - - - - - - - - - - - - - - - - - --- - - - - - �- -- - - --- - - - - -- - - - - - - - - - - - - - - - - - - - - - - - - - - - 1 Net farm profit or (loss) from.Schedule.;F, line 36, and - farm partnerships, -Schedule K-1.,(.Form 1065), line 15a...(1). 0. 2 Net profit or -(loss) •-from .-Schedule _C, .line 3.1; . Schedule C-EZ, line 3; • -and -Schedule :K-1 .( Form 10.65 ) ,. line 15a.. (other. than •farming) ..:Ministers .and members of religious orders see .page SE-1•for amounts to. report:...(2) 4;619. 3 Combine -_lines _1 and ; 2 .. , ....:.... , .......,.....:........ , ... (3) 4',`�19 . 4 NET EARNINGS FROM . SELF-EMPLOYMENT. Multiply line 3 'by 92.35% (.9235). If less than $400,-.DO NOT file.this schedule; you..do not -owe self -e ' loyment,.'.tax........ .... (4) `4;266. 5 SELF-EMPLOYMENT TAX. If the. amount on line 4 is: o $57,600 or less, multiply-Aine 4 by 15.3% (.153) and enter the. result. o More than $5716001;but less, than. $135,000, multiply the': -amount in excess•of $57,600 by 2,.9% (.029j. Add $8;.8.12..80 to the'•result -and enter the total. o $135,000 or more, enter $11,057.40. Also enter on FORM 1040, LINE 47. (IMPORTANT: Enter ONE- HALF of the amount from line 5 on FORM 1040, LN 25.)....(5) 653. 81 For Paperwork Reduction Act Notice, see Separate Instructions ti 1 95 6t 76 :hedule SE - Page 2 �'- 1993 * 17 Form 1040) MARGARITA FERNANDEZ ---------------------------------------------------------------------------- ECTION B - LONG SCHEDULE SE ART I - SELF-EMPLOYMENT TAX A` E-you filed -FORM 4361,' but you had $400 or more of OTHER uet earnings from self -:employment, check. -here ..............I—] ------------------------------------ ----------------------------------:--- 1 Net farm profit or (loss)' from Schedule -IF,, line 360, and - farm partnerships, Schedule R-1 (Form '1065),•line 15a..•.(1) 0. 2 Net profit or (loss) from 'Schedule C, 'line '31; ' Sch C-EZ, . line 3;• & R-1• -(Form 1065 ).; In 15a (other. than • farming) - .:(2) 0:. . 3 Combine lines 1 and 2..:.............:...i....:..... 4a If line ,3 is more than zero, multiply In -3 ,by 92.35% (.9235).� Otherwise,'enter amount -from line 3...........(4a) 0. b If elected optional methods,'enter sum of lines 17 & 19(4b) c Combine lines 4a and 4b: If less than- $400 DO NOT file this sch. If < $400 and ohurch employee inc, enter 0...(4c) 0. 5a Enter your church employee income from''Form W-2........ (5a). b Multiply line 5a by .9235: If less than $100, eater 0..(5b) 0.. 6 NET* EARNINGS FROM SELF-EMPLOYMENT. Add lines 4c and 5b..(6) 0.__ 7 Maximum wages and self-employment earnings subject to S.S. tax or 6.2% portion of the 7.65% RRTA tax for 1993.(7) 57,600. 8a Total social security -wages and tips ( from Form s ) W-2 ) and railroad retirement (tier 1) compensation .......... (8a) b Unreported tips subject to social security tax (from Form 4137, line 9)................ %.%.......... ......... (8b) c Add lines 8a and 8b.%.............. .....................(8c) 9 Subtract line 8c from line 7. If Zero or less, enter 0 here and on line 10 and go to line 12a..................(9) 0. .0 Multiply the SMALLER of line 6 or line 9 by 12.4%(.124)(10) 0. .1 Maximum wages and self-employment earnings subject to Medicare tax or 1.45% portion of 7.65% 1993 RRTA tax ... (11) 135,000. :2a Total Medicare wages and tips (from Form(s) W-2) and railroad retirement (tier 1) compensation.............(12a) b Unreported tips subject to Medicare tax(Fm 4137,1n 14)(12b) c Add lines 12a and 12b............. ...... .............(12c) L3 Subtract line 12c from line 11. If 0 or•less, enter 0 here and on line 14 and go to line 15..... ............(13) 0. l4 Multiply the SMALLER of line 6 or line 13 by 2.9%(.029)(14) 0. 15 SELF-EMPLOYMENT TAX. Add lines 10 and 14. Enter here and on FORM 104-0, LINE 47. (IMPORTANT: Enter ONE-HALF of amount from In 15 on FORM 1040, LINE 25)...............(15) 0. ------ ----------------------------------------------------------------------- PART II - OPTIONAL METHODS TO FIGURE NET EARNINGS FARM OPTIONAL METHOD. You may use this method ONLY if: (a) Your gross farm income was not more than $2,400 OR (b) Your gross farm income was more than $2,400 and your net farm profits were less than $1,733. 16 Maximum income for optional methods....................(16) 1,600. 17 SMALLER of: 2/3 of gross farm income OR $1,600. Also, include this amount on line 4b above...................(17) NONFARM OPTIONAL METHOD. You may use this method ONLY if: (a) Your net nonfarm profits were less than $1,733 and also less than 72.189% of your gross nonfarm income, AND (b) You had net earnings from self-employment of at least $400 in 2 of the prior 3 years. CAUTIQIlri You may use this method no more than five times. 6 6 18 ubtract line 17 from line 16 ..........................(18) 1971,MALLER of: 2/3 of gross nonfarm income OR amount on ` ."A1A ntcn. inili)HP this amount on line 4b above....{19) 4. orm 2555 ALBERTO FERNANDEZ EIGN EARNED INCOME 1993 * 34 OMB No. 1545-00.67• ------------------------------------------------------------------------- ART I GENERAL INFORMATION ---------------------------------------------------------------------------- Your foreign address (including country) 2 Occupation ARRETERA DUARTE KM 12 DOMINICAN REPUBLIC. MANAGER 3 Employer's..name................PRODUCTORA DE AVES CXA 4a Employer's.U.S. address........NONE b Employer's foreign addres's..... CARRETERA DUARTE KM 16.DOMINICAN REPUBLIC 5 Employer is: a [X] A foreign entity b [_] A U.S. company. c [_] Self d [_J A foreign affiliate a [_] Other 6a If claimed 2555..or EZ exclusion post 1981 last yr claimed1982 THRU'1991 b If you did not file 2555 or 2555-EZ after 1981 to claim either of the exclusions, check here and go to line 7 now.......:..[_] c Have you ever revoked either of the exclusions? [_]Yes [X]No d if Yes, give type exclusion & tax yr revocation effective 7 Of what country are you a citizen/national?.............. 8a Did you maintain separate foreign residence for your family because of adverse living conditions at your tax home? See instr. [_]Yes •[X]No b If 'Yes', enter city & country of•separate foreign residence. Also show days you maintained second household.... List tax home(s) during tax yr & date(s) established AME AS ABOVE(FEBRUARY 19681 :OMPLETE EITHER PART II OR PART III. IF ITEM DOES NOT APPLY, WRITE 'NA.' IF NFORMATION NOT PROVIDED, EXCLUSION OR DEDUCTION CLAIMED MAY BE DISALLOWED. ---------------------------------------------------------------------------- 'ART II TAXPAYERS QUALIFYING UNDER BONA FIDE RESIDENCE TEST (SEE INSTR) .0 Date bona fide residence began FEB 1968,and ended NOT YET .1 Kind of living quarters in foreign country a [_.] Purchased house b [X] Rented house or apartment c [_] Rented room d[_] Emp Quarters .2a Did family live with you abroad during part of tax year?[X]Yes [_]No b If 'Yes', who and for what period? ....... WIFE & CHILDREN SAMETIME AS ME .3a Submitted statement to authorities of foreign country where you claim bona fide residence you are not resident of country?... [_]Yes [X]No b Are you required to pay income tax to the country you claim bona fide residence? (See instructions.)..........[X]Yes [_jNo IF 'YES' TO 13a & 'NO' TO 13b, YOU DO NOT QUALIFY AS BONA FIDE RESIDENT. _4 .Complete cols a-d below if you were present in the U.S. during tax year. DO NOT include income from col (d) in Part IV, but report on Form 1040. ----------------------------------------------------------------------------- ;a)Date arrived Ln U.S. (b)Date (c)No.' left days U.S. on bus (d)income earned in US on busn (a)Date arrived in U.S. (b)Date (c)No. left days U.S. on bus (d)income earned in US on busn ----------------------------------------------------------------------------- 15a State contractual terms relating to length of employment abroad. INDEFINITIVELY b Enter type of visa...PERMANENT RESIDENT AFTER 29 DAYS S 6 c Did your visa limit length of stay in foreign country? [_]Yes [X]No If 'Yes', attach explanation. d Did' you maintain home in U.S. while living abroad?.......[_]Yes [X]No e If 'Yes', enter address of home, whether rented, names of occupants, and relationship to you.. Form 2555 �ZEIGN EARNED INCOME 1993 * 34 OMB No. 1545-0067 MARGARITA FERNANDEZ ----------------------------------------------------------------------------- PART I GENERAL INFORMATION ------- ------------------------------------------ ----------------------------- 1 Your foreign address (including country)' 2 Occupation CARRETERA DUARTE KM 12 DOMINICAN REPUBLIC !TEACHER 3 Employer's name ..... :- .........NONE 4 a Employer's U'. S ..address ........ NONE b Employer's foreign address..... NONE 5 Employer is: a [_] A foreign entity b [_] A U.S. company c [X] Self d [_] A. foreign affiliate a [_] Other 6a If claimed 2555 or.EZ;exclusion.post 1981 last yr claimed1986 THRU•1921. b If you did not file 2555 .or 2555-EZ after 1981 t'o claim either of the exclusions, check here and go to line now ..... c Have you ever revoked either of the exclusions? [_]Yes [X]No d If Yes; give type exclusion & tax yr revocation effective 7 Of what country are you a citizen/national?.............. 8a Did you maintain separate foreign residence for your family because of adverse living conditions at your tax home? See.instr. .[_]Yes [X]No b If 'Yes', enter city'& country,of'separate foreign residence..Also -show days you maintained second household.... 9 List tax home(s) during tax yr & date(s) establishedSAME AS ABOVE (FEBRUARY 1968) COMPLETE EITHER PART II OR PART III. IF ITEM DOES NOT APPLY, WRITE 'NA.' IF INFORMATION NOT PROVIDED, EXCLUSION OR DEDUCTION CLAIMED MAY BE DISALLOWED. -------------------------------------------------------- ---------------------- PART II TAXPAYERS QUA14IFYING UNDER BONA FIDE RESIDENCE TEST (SEE INSTR) ---------------------- ------------------------------------------------------- 10 Date bona fide residence bggan FEB 1968,and ended NOT YET 11 Kind of living quarters in foreign country a [_] Purchased house b [X] Rented house or apartment c [_] Rented room d[_] Emp Quarters 12a Did family live with you abroad during part of tax year?[X]Yes [_]No b If 'Yes', who and for what period? ...... HUSBAND & CHILD.SAME AS ME 13a Submitted statement to authorities of foreign country where you claim bona fide residence you are not resident of country?... [_]Yes [X]No b Are you required -to pay income tax to the country you claim bona fide residence? (See instructions.) .......... [X]Yes [_]No IF 'YES' TO 13a & 'NO' TO 13b, YOU DO NOT QUALIFY AS BONA FIDE RESIDENT. 14 Complete cols a-d below if you were present in the U.S. during tax year. DO NOT include income from col (d) in Part IV, but report on Form 1040. ----------------------------------------------------------------------------- (a)Date arrived in U.S. (b)Date left U.S. (c)No. days on bus (d-)income earned in US on busn (a)Date arrived in U.S. (b)Date (c)No. (d)income left days earned in U.S. on bus US on busn ------------------------------- -------------------------------- ----- 15a State contractual terms relating to length of employment. abroad. INDEFINITIVELY b Enter type of visa... c Did your visa limit length of stay in foreign country? [_]Yes [X]No If 'Yes', attach explanation. d Did you maintain home in U.S, while living abroad? ...... [_]Yes [X]No e If 'Yes', enter address of home, whether rented, names of occupants, and -� 3 relationship to you.. rm 2555 - page 2 1993 * 34 ALBERTO FERNANDEZ ----------------------------------•------------------------------------------ ART I'II TAXPAYERS QUALIFYING UNDER PHYSICAL PRESENCE TEST (SEE INSTR) ----------------------------------------------------------------------------- 6 Physical presence test 12-month period from..... thru 7 Principal country of.employment during.tax year. 8 Enter all travel abroad during 12-,mo.. period above except travel between foreign countries not -involving travel ton or over'internat'l waters, or in or over U.-S.,.for-24 hours or more. If no travel.during period, enter 'Physically present in a -foreign. country/countries for' entir6 12-month period.' DO NOT include inc from.col(f.) in Part, IV; report on'Form 1040. ---------------------------------------------------------------------------- (a) Name of country (b)Date, (c)Date ' (d)Days`' (e)No. U.S. (f)Busn inc (including U.S.) •arrived..' left present".._busn days `earned U.S. -------------------------------------- -------------------------------------- ART IV ALL TAXPAYERS ---------------------------------------------------------------------------- ote: Enter on lns 19-23 all .income, including noncash, earned.during 1993 tax year for services performed in a foreign country. See instr. DO NOT include income from In 14 col(d) or In 18 col(f). Report U.S. dollars using.exchange rates in effect when actively/constr'ly reed. CASH BASIS TAXPAYERS REPORT ALL INC REC'D 1993 NO MATTER WHEN EARNED. ---------=------------------------------------------------------------------ 1993 FOREIGN EARNED INCOME Amount (in U.S. dollars) ----------------------- ------------------------- ---------------------------- ti 9 Total wages, salaries, bonuses, commissions, etc ........ (19) 48,000. •0 Allowable share of income for personal services performed: a In a business (including farming) or profession ... I ..... (20a) b In a partnership (list p'ship name, address, type of income) (20b) !1 Noncash income (market value of property or facilities ############# furnished by employer -- attach statement how determined): ############# a Home (lodging).........................................(21a) bMeals..................................................(21b) c Car....................................................(21c) d Other. List type, amt. (21d) '.2 Allowances, reimb, or expense paid for services performed:* ############# a Cost of living and overseas differential...(22a) ############# b Family ............... ....................(22b) ############# c Education..................................(22c) ############# d Home leave .................... ...........(22d) ############# e Quarters...................................(22e) ############# f Other. List type, amt. #############' ( 22f ) ############## g Add lines 22a through 22f..............................(22g) ?3 Other foreign earned income type & amt. (23) 24 Add lines 19 through 21d, line 22g,-and line 23.........(24) 48,000. 25 Meals & lodging included on line 24 that is excludable..(25) 26 Subtract line 25 from line 24. FOREIGN EARNED INCOME .... (26) 48,000. L81 For Paperwork Reduction Act Notice, see Separate Instructions 95 6G �r Form )s!i - page-3 ' ----------------- ..---------------- ------------------ PART V ALL TAXPAYERS -------------------- T Enter. amount..from line"26::..:........'....:...:.........(27) __ 48,000.. If you choose' to claim .•the hou's'ing' exclusion or deduction, 1t P tVI 701 th PtV comp e e ar _o; es, 1J, o.• to rar . II. - - - - - - - - - --------+- ---,.- -,------------------------------------------- - PART VI FOR TAXPAYERS;. CLAIMING THE�HOUSING''EXCLUSION��AND/OR DEDUCTION ----------- ------- ----• --------.. , 28 -_------------------------------------------ Qualified housing.expenses'for tax -year (see instr)..... (28) 29 Number days. ;in .qualifying period ,that fall ############# within �1993 tax year ' (see instructions )*..... (29) * ############# - , 30 Multiply $23.94 by the `number'of"days on I*_I line 29, but not more-than$8,737.00....................(30) 31 Subtract line 30 from,- 28 . If zero -or less, don't complete the rest of -Part--VI or any of Part IX .......... (31) 0. 32 Enter employer -provided amounts (see instr).(32) ############# i 33 Divide line 32 by line 27.' Enter result as a deci.mal...(33) 34 HOUSING. EXCLUSION. Multiply In 31 by In 33. Enter result but not more than line 32. Also complete Part VIII.....(34) NOTE: Housing deduction "ia .figured in -Part IX. If` claiming foreign earned 'income exclusion do VII & VIII before IX. ----------------___-__-_- PART VII FOR TAXPAYERS "CLAIMING FOREIGN EARNED INCOME EXCLUSION ----------------------------------------------------------------------------- 35 Maximum foreign earned income exclusion.................(35) $70,000. 36 N.umber days from In 29 or in qualifying period ############# that fall within 1923 tax year (see instr)..(36) ############# 37 Divide In 36 by days in 1993 tax yr & enter as decimal..(37) 1.00 38 Multiply line 35 by line 37.............................(38) 70,000. 39 Subtract line 34 from line 27.....................-......(39) 48,000. 40 FOREIGN EARNED INCOME EXCLUSION. Enter the SMALLER of ----------------------------------------------------------------------------- line 38 or line 39.'Also, complete Part VIII ............ (40) 48,000. PART VIII TAXPAYERS CLAIMING HOUSING, FOREIGN EARNED INC EXCLUSION OR BOTH ----------------------------------------------------------------------------- 41 42 Add lines 34'and 40........ ..... ........... .........(41) Deductions allowed in figuring adjusted gross income (Form 48,000. 1040, In 31) allocable to excluded income. Attach stmt..(42) 43 Subtract line 42 from line 41. Enter here & in parentheses on Form 1040, line 22. Write 'Form 25551. On Form 1040, subtract this amount from your income for total line 23. ----------------------------------------------------------------------------- .......(43) 48,000. PART IX FOR TAXPAYERS CLAIMING THE HOUSING DEDUCTION. Complete this part ----------------------------------------------------------------------------- only if (a) In 31 is more than 34 and (b) In 27 is more than 41. 44 45 Subtract line 34 from line 31 ...........................(44) Subtract line 41 from line 27 46 ...........................(45) Enter the SMALLER of line 44 or line 45 .................(46) Note: If line 45 is more than line 46 and you couldn't deduct all of your 1992 housing deduction because of the 1992 limit, use the worksheet on page 4 of instructions to figure the line 47 amount. Otherwise, go to line 48. 47 Housing deduction carryover from 1992(worksheet page 4).(47) 48 Add lines 46 & 47. Enter here & Form 1040 left of line 30. Nrite 'Form 2555'. Add to total adjustments for line 30.(48) 0. D181 %For Paperwork Reduction Act Notice, see Separate Instructions9 5 6 6 m 2555 - page 2 1993 * _--------------------------------------------------------------------------- ART III TAXPAYERS QUALIFYING UNDER PHYSICAL PRESENCE TEST (SEE INSTR) --------------------------------------------=------------------------------- 6 Physical presence test 12-month period from..... thru 7 Principal country of employment during tax year. 8 Enter all travel abroad during 12-mo..period above except travel between foreign countries not involving travel on or over internat'l waters, or in or over U e-S . ; 'for- .24 hours or more.. If no .trave1.:during period, enter 'Physically present in a foreign country/countries for entire 12-m6nth period.' DO NOT include inc from col(f.) in Part IV; report on Form 1040. ------------------------------------------- (a) Name of country (b)Date (c)Date (d)Days (e)No.,U.S. (f)Busn inc (including U.S.) arrived left present busn days. earned U:S.. I ----------------------------------------------------------------------------- 'ART IV ALL TAXPAYERS ---------------------------------------------------------------------------- rote: Enter on lns 19-23..all income, including noncash; earned during 1993 tax year for services performed in•a.foreign country. See instr. DO NOT include income from In 14 col(d) or In 18 col(f). Report U.S. dollars using exchange rates in effect when.actively/constr'ly reed. CASH BASIS TAXPAYERS REPORT ALL INC REC'D 1993 NO MATTER WHEN EARNED. ----------------------------------------------------------------------------- 1993 FOREIGN EARNED INCOME Amount (in-U.S. dollars) ----------------------- ------------------------------------------------------ L9 Total wages, salaries, bonuses, commissions, etc ........ (19) 4,619. ?0 Allowable share of income for personal services performed: a In a business (including farming) or profession ......... (20a) b In a partnership (list p'ship name, address, type of income) (20b) ?1 Noncash income (market value of property or facilities ############# furnished by employer -- attach statement how determined): ############# a Home (lodging).......................................(21a) bMeals ..................................................(21b) c Car...................................................(21c) d Other. List type, amt. (21d) 22 Allowances, reimb, or expense paid for services performed: ############# a Cost of living and overseas differential ... (22a) ############# b Family: .................................... (22b) ############# c Education..................................(22c) ############# d Home leave.................................(22d) ############# e Quarters...................................(22e) ############# f Other. List type, amt. #############. (22f) ############# g Add lines 22a through 22f..............................(22g) 23 Other foreign earned income type & amt. (23) 24 Add lines 19 through 21d, line 22g,;and line 23.........(24) 4.619. 25 Meals & lodging included on line 24 that is excludable..(25) 26 Subtract line 25 from line 24. FOREIGN EARNED INCOME .... (26) 4,619. 187 For Paperwork Reduction Act Notice, see Separate Instructions 95-. 66 76 Form �55 - page 3 '� 1993 * 34 MARGARITA FERNANDEZ ; )ART V ALL TAXPAYERS , ?7- Enter amount from -line 26...............................(27) 4,619. if you choose'.to claim the housing exclusion or deduction, complete,Part VI. All others, go.to Part VII. .---_._...-- -..- ._-r- - . T! ---------------------•----------------------.-- ?ART VI FOR TAXPAYERS CLAIMING THE'HOUSING EXCLUSION -AND/OR -DEDUCTION. - - 28. Qualified .housing.expenses for tax year (seeinstr).....(28) 29 Number days., in qualifying period that fall ###########.#.# within 1993 tax year (see instructions). ..-(29) 30 Multiply $23.94 by the number of' -days on line 29, but not more than$8,737.00.....................(30) 31 Subtract line 30 from 28. If zero or less, don't complete the rest of Part VI or any of Part IX.......... (31) 0. 32 Enter employer -provided amounts (see instr).(32) ###'#########'# 33 Divide line 32 by line 27. Enter result as a decimal ... (33) 34 HOUSING EXCLUSION. Multiply In 31 by In 33. Enter result but not more than line 32. Also complete Part VIII.....(34) NOTE: Housing deduction is figured in Part IX. If claiming foreign earned income exclusion do VII & VIII before IX. ----------------------------------------------------------------------------- PART VII- FOR TAXPAYERS CLAIMING FOREIGN EARNED INCOME EXCLUSION ----------------------------------------------------------------------------- 35 Maximum foreign earned income exclusion.................(35) $70,000. 36 Number days from In 29 or in qualifying period ############# that fall within 1923 tax year (see instr)..(36) ############# 37 Divide In 36 by days in 1993 tax yr & enter as decimal..(37) 1.00 38 Multiply line 35 by line 37.............................(38) 70,000. 39 Subtract line 34 from line 27 ...........................(39) 4,619. 40 FOREIGN EARNED INCOME EXCLUSION. Enter the SMALLER of line 38 or line 39. Also, complete Part VIII ............ (40) 4,619. ----------------------------------------------------------------------------- PART VIII TAXPAYERS CLAIMING HOUSING, FOREIGN EARNED INC EXCLUSION OR BOTH ----------------------------------------------------------------------------- 41 Add lines 34 and 40.............. .........(41) 4,619. 42 Deductions allowed in figuring adjusted gross income (Form 1040, In 31) allocable to excluded income. Attach stmt..(42) 43 Subtract line 42 from line 41. Enter here & in parentheses on Form 1040, line 22. Write 'Form 25551. On Form 1040, subtract this amount from your income for total line 23. .......(43) 4,619. -------------------------------------------------------------------------- --- PART IX FOR TAXPAYERS CLAIMING THE HOUSING DEDUCTION. Complete this part only if (a) In 31 is more than 34 and (b) In 27 is more than 41. -----------------------------------------------------------------------------' 44 Subtract line 34 from line 31 ...........................(44) 45 Subtract line 41 from line 27 ...........................(45) 46 Enter the SMALLER of line 44 or line 45.......... ......(46) Note: If line 45 is more than line 46 and you couldn't deduct all of your 1992 housing deduction because of the 1992 limit, use the worksheet on page 4 of instructions to `figure the line 47 amount. Otherwise, go to line 48. 47 housing deduction carryover from 1992(worksheet page 4).(47) 48 Add lines 46 & 47. Enter here & Form 1040 left of line 30. Write 'Form 25551. Add to total adjustments for line 30.(48) 0. )17 2 For Paperwork Reduction Act Notice, see Separate Instruction 66 FORT 040 LINE 22 WORKSHEET 1993 ALBERTO & MARGARITA FERNANDEZ ----------------------------- ------------------------ ----------------------- ie following amounts are included in the total entered on line 22 of )rm 1040 • ' ..., . 3 --TAXPAYER ( SPOUSE I --TOTAL Miscellaneous income from Form 1099-Misc Child's interest and dividends from Form 8814 Gambling income from Form W-2G Recoveries of bad debts, etc. from•Partnership/S Corp K-ls Exclusion(s) from Form 2555 Moving expense recapture Net operating loss carryback/ carryover Bartering income OTHER: -48,000.I' a b ------------ 0 Total income for Form 1040, line 22-48,000. k.; -4,619. ------------ -4,619. -52,619. 95- ss 7 � 'To- 3e5 35e '7892 Pei JAN W. W e2:34 UNITED FOODS CORPORAT[ON LF 1717 N. Baythom M., Suite 2157 uwo Foos: Miami, Fla. 33132, Tel.: (30S) 381 7717 November '22,' 19.94 Miami Capital"Development, Inc Att: Luis Cuervo, Senior Lending Officer Dear Mr.Cuervo: I have been informed that you had some difficulties in de- termining my personal credit standard with the Miami Credit Bureau. Please find enclosed a copy of the settlement statement I had with the Flag.ler Federal Savings & Loan Association, Including the loan number, of a property I bought through them. Also I am enclosing a copy of a statement of Mortgage inte- rest paid of another property I bought through Amerifirst. Here you can also determine the loan number. In addition, I keep an active credit account with American Express, Gold Card number 3726 536964 32000 and another one with Saks Fifth Avenue, account number 32-834-731. It has been in the past my personal experience that since my last name is a compund one FERNANDEZ OE CASTRO, sometimes they just registered it as Mr.Fernandez, or Mr.Castro, or Mr.de Castro. I tkink on this occasion this might be the ca- se. I hope this information will clear things for you. Thank you very much for your collaboration and I hope eve- rything is going according to schedule with our application. Yours c6ly Alberto_,r r/na-ndei_de Castro - Pre•s-Ident. AFC/rr 95- 66 ?q 'iiii > �N � o PMd/ 4 Wj'ol �+t:('.e'mrtu of 4ic►rt�;ae interest Charged AWERIFIRsr (ltici Real Estate.••Ta>`es'Paid VYllt MO -NI IMAIf I'•I,,It 1%0%\(t 111 IAW W t Ilf•t't fI lYIttPIRC.IIASHIOR$UI11TOIISrltCIPFXTQDCRINOTit t:(,ALENi T10y WA 11•► I%*f 1.kt `It t •'• '+t ! ` •tlttk� RiLtta V11 At %1.0' IIAft;VL \R SIKIWN IWIPW. \'()V "V ALSO t'1N0 Y()ttlt PROPERTY PAIL) bV %111 ....... iiu�1. Uf.l l (TF. r. Y 1 R BE or ASSISMANCE IN t1�:TERNININC \C'(ttt Iti14b►� t.\L'NIIAN�YAk t%litf.A1(114P(.Fn TAXES PA ID �4S 01035675-35 1Q$4 3i843� 28 ;,•;Y:?F• �.: +::: 2s223. 35 AI MP. ALBERTO FERNWET DE C•ASTP(I S"ETHIS FOR MARGARITA FERNANDEZ-- DE:A.A'STRO :�.........: 4711 H.1io 6 STREET YOUR RECORDS AP-T..s "IAMTs 1:L 33126. ,'i ki T X tn Of ZZ 10 r rnx Ln �cn UQZ C zmm o >D z Z (D > 95— 66 �� �,. •'�` U.S. D&. itf4foli MOUSING AND yRt'fAM OEVELOpmeo-• - ' t„r_ SETTLEMENT STATEMENT Flag' e r �edera SAVINGS 6 LOAN ASSOCIATION IUI NnHIN!a�l 1 alai Avruur, Mi.uni,1 Iln(dA 111►t :. NOTE' This form It furnished to p(w you a statement of actual aeltinmenl caste: marked "Ip.e.e.)' wan pall oulald4 the closing; they are Shown hero for Inform I a TYPt OF LOAN 1. 0 FHA L d FMHA >L C 00h UNIT 4. 0 VA S. Ck 00kV. tft S. FILE NUMBER; 7. LOAN NUMBERt a. MORT. INS. CASE NO.: tmounla paid to and by No seMlagenl agent are Shots. its lonal purpotee and ere not Included In the totaie. NAME OF BORNOWERi %LBERTO FERNANDEZ DE CAS IAR.GARITA FERNANDEZ DE CAS L NAME OF SELLER: ADILLAC FAIRVIEW FLORIDA, ROC. F. kAM1 OF UNINIPA FLAGLER FEDERAL SAVINGS AND LOAN ASSOCIATION OF MIAMI PROPERTY LOCATION: 1915 S.W. 150 No, Cts Cirv1 Ii ami 'lorida 33166 N. /ETTLEMENT AotNTt KEITH, MACK, LEWIS i ALLISON L SETTLEMENT DAT61 12/29/80 PLAC1 OF 89TTL4MENYi ill Northeast roirst Street J. BUMMARY OF BORROW 1 S TRANSACTION: K. SUMMARY OF sE !t's 1RANSACTIONt 10. OROSS AMOUNT DUE FROM BORROWER 400• GROSS AMOUNT Due TO.se11E11 1t. Contract sales price 401-Contrast saws prlos 402. Personal -Eropedy 12. Personal prop4tty 13. 641111entanl charges to borrower plits 1400) 7,987,9 403. '4. 104. IS. Adlu�tnti•nls ffor Hama paid by seller Inidvsnw M. CHy/town lexs• _ to N. Counlytizoa 12/2Q_to jZ/31% 403. _ Adjustments for Rams paid b *oiler M ad nos 400. City/town tiaee to 401^County tares to 12/31/80 in. Assessments to 40E. Assessments to 409. W_nito Fees anti• WactsFees _ _ 1 IONAINTSNANC& PRO, 41PLAINTPANANCE0 If. 411. t 2• 412. X. DROSS AMOUNT DUE FROM BORROWER 6 9 81 420, aROtt AMOUNT DUt TO SELLER 12Q.993./ 10. AMOUNTS PAID BY OR IN BEHALF OF BORROWER 600. REDUCTIONS IN AMOUNT DUE TO BELLER Sol. Exreas deposit (see Instructlona) 11. Deposit or earnest motley _ 7� 000. 00'0 96 Q Ulf. Gross Prlamountpai amount of new bans) !02. Settlement charges to seller (line 1400) ML Exlsling loan(s) taken subject to 603. Existing loons taken subject to a• 504. payoff of first Mortgage loan 16. 605. Payoff of second mortlatis loan 96 606. Deposit 0 0T. 607. U6. 506• 0g• Go. Adjustments for Items unpaid by seller Ad vslments for Items utroald by Seller to. Gty/town tares to 510. City/town tares to it. counpi taxes to fill. County taxes to 12. Assessments to 512. Assessments 1 13• 513• 14. 514• ISO _ 015. 516. 617. to. hie. 20. TOTAL PAID OY/FOR BORROWER 520, TOTAL REDUCTION AMOUNT DUE SELLER i no. CASH AT SETTLEMENTFFIOM OR TO BORROWER 000. CASH AT SETTLE ENTTOOR FROM ttLLSR -11 _Or_ws wrwiunl due loom borrower Lime 1?01 u7. Lest amounts paid by/for borrower (line 220) 3.6 s 981 31 601. Uroas amount due to roller ("me 420) 609.Less reduction amount due seller (line 520) 128.,293, 7,000, 03. CASH (' .PROM) (0 70) BORROWER 33.2§1 j 1 503. CASH ] T0) (I] FROM) SELLER 121,993-. 95- 66 • I mptclothtsform1or::(1)mcLproptictor.or(?I cactiuinitcdnor+tiererltooC:nsantntcres(nndedcti ngratpartner,or(3�eatl►ctockhotelcr, ar(�nn orsonorentlt rov►dtnpnouirtntvonthcto.in. • 111 I . Y✓ —.:- :,,..-�^.:I•--�••...r— ��GG �-s. r.:.�. R.%�.w IY..�--.'-�'.-`•...•.—....•��{....r'�'.M�.�..-G7+�.•.-�..-.'.....'"..�..:.�-'-J"_, .-. .. �"'•v-"'r--`.;'•=`;•='-' ..�.:..:::..4:.:.: 'ts �;x .>..w. —�'^-...--�•,�~�_--1.,-".��ul.:....''t ::�u.� Ii�........ T-;-: r'� .T./tir��,li!J�� i _..�. f 111 • . N I. ry Ti ►. r/• 11 111 1 1111 Il .• I, •- •� 1 111 I 11. 111 111 lr$fiilreop£filconly :.: '.:..� ingentLinUilitieu. 11! 111 tiretloll •• -. •- Cunt • . _ :11 •. Yw ♦ ��; � v:Yi3�:ti..r�...... e•�: iY%:l;l 4!.�.yltx::..itit_..j..J;l....'.Y��.-^':�'_^.•.:cA.i...^�•..•...n wta:CL+4:-N... ... — ...•^ -.:.w,�vi'l,v:,��.'•�._�.._.. :�"��:.:«�•.:.:.Y.�:w— •• `5`1:c-o •. I*• : ' t b TI r. ;`'' •'�.�]-d',i:I.,t,iJ�t't�i�..ti:2'. • �' 'i• Lila I.tw t. I ' t• �^ �L ! � k��Jc ..rst f r' �i'�iC[�t%°i+�"'i"• i +Y.a�."•i•.-��N 11,i�i�lMiwr.�..i ' • �' Scetioll11. 'Notes l'nyn6lotoBnnlcnnd0l cars. - ' - i tLfBbfrtfeLlertf Ay+�fl(T blw�ynt•tT). - r)oj .. �� "^;j4 M � c : Ir t. .i.r.••,�,.,,�j� ,C.� Y"��7R••.. �t�,,. :C'���r111.X.JlI {i�1L::lll7Tx'�»:^:'�1`^.',iT+ :.�.1. Y:r,y:.f ��.�.li�i 1 '���_��?e11�.,.1/t�.w/� LLt: __ ....1 tic11T.7 { �� Itt�lt'�'•t 4 1' L .,�..wy,,,..,>~¢r,-� � ( �!•'fliJ• llia•I• �L •T � '.4^..•....Y , l.f, � 1 1'� t � n Scctioulll..StocTssnull.Bontlo:::..(UscaKach�nenls/jnecca�cdry. "^ afafeml'nfande �uc1�d((acluucntni�ratLclJcnt7Jicdnsrr1dgtojtZ/ie:.'; 1. aid)PIT ,..:._ - Est 95- 66 m 170 secti oil IV. Itell Estnt 0 Owlical . Mrst 4'"Ch parrel 1TC11firidery. as a parl hflr,;.v sratcyricur and.T;r1)rd). 0 PTTTY r-, 1 .11CIT" WOM W-77771`7 U-1. I t'7 �.T 4100 r ifionth 07. W-TI-17M, 15-1ful—,"ITTV. section. V.Ptlier Personal Properkyrind Other Assets. (Describe, and ifanjiiispfrdgeais sccurily,* state nanic4indaddres.T oflien j harder, aniount of Urn, ferniv ofimpnent. and iftlelinquent, clescrilip delinqUenc3% SectionVI. Unpaid Takes. (Des Jim Section VII. Other Linhilities. artriches)" in derail). .(Describe Section VIII. ContinizeentUribilitics. (Describe in detail) SectlotilX.*Lifoliisuv.ince.lield. (Give f4pe ainaunt tind cash surrender value ofliolicies.. atilt creatworthiness. I cwdty the above and the statement. oontalned In'the attachments are M and ao6urits to of the slated dsb(#� Iliess statsmenta am made for the purpose of alther obtalning a loan or guarantoolng a loan. I undembind FALSE statements mr/ Moult In Ili$ my appReatlon for cred1t. -- _aacruallfteatlonAf DateOCT. 25,1994 SoctalSecurityNoA- 95- 66 Reviled Augwl,199I KC 13 '94 14:42 INTERMILI INC 1 If kM Athpr lrnakar nrnd ` ».�».L.../ �. l,wwew w►,. 1 2018339202 MG5303593.P01 fac ptmdding tasty and healthy diehea, and being tusder the supervieioo of'OU Glatt' dogs sot take away from that." . Established in 1988 in Tea� New Jersey as the Americas arm of Israel's poultry camp&",.Interm.ili rapidly expanded its catalbgue of high-gpality kod1wr prodneta to include soy -rinsed dishes WhIPAsorve.an moat substitutes.6or.veggtariaa iliefa, and fiieeh ` '" • • ble plat,tera like agfnach'bouffle,•zn Lklllkh, AAQ,�lI different dr Vea soaps. Reaerit add'itio'DA aade'taclt deucadear as chicken stuBed with rioe tind,muahrooWX and a"~ line of smoked turke prudtrda �ntermill: A.04 e �Cear* Kosher Success Story Food Clubs & Supermarkets Coast -To -Coast Key Into IBraeti Qualilty In Ices than five ahem years, Internilii, In,o+ - the New Jeseeybesed distributor of imported Israeli food products -- has forged a pernnaneat pleoe for fine, pre-cooked koaher foods on American rrctail shelves. In an era msikated by economic sluggkhrie and dimin- ishing sales, Intermili's story is one of continuing: success and growth, reaching an a rpendb* market that incl udea a substantial Dots -kosher clientele. . *We're finallyeodat-to•coast(' Intaimill.President Israel Prumer, proudly proclaimed. "From our chicken nuggets to cur vsgetari,an specialties, you. can now find Mili in St, Louie, New Orleans, Texas, dalifornia — even Mexico Cityl And of courae, in our own metropoli- tan area. Moat koeher stones stock Mili. And.with a little help'fr•oni non-k03&r consumers, our sales havM doubled in the past year." - "It is easy to be proud of our product — all it takee is one taste. I have a deep drawer crammed With letters from Richmond, Virginia, from Maryland, and from Washington State. All from people who have tried ons of our pmocloda and have beoume biop'i�Cl: Tiiejr Kant to know where they can find Mili ia+t�" i- reps," Mr. F`rumer added. Mr. knnner credits strong, iali' ndent dustributio- aa. tic kej to has rapid 112 f.attracted Attention oCmslordwholesale £cod cl' "We should be in Ather natioaal retaileceby early ne t gear"�a� "end 9 "We ILive become known for the gaality'of our products ad well as for the.relial;illty dour diatri'bu- tion," Mr. Prumer explained, O'We Srif oopoenti *C an reaching qa= goaenmflre through the varioue'Moiit do Fop' stores and supermarkets is the Niw York area, and then moved 'on. to balk sales to institutions like nursing homes, Ieehhu sad caterers." Celebrating their best year ever with a speicial end -of -year sale on selected proddets, Interm will bo among the featured presenters at the aanaial Y.Wherfest Food Shout it the Meadowlands. Hiltan In'Seacaacua; New'Jer`aq, on Nmmber 8I and Deoemi er L' '. • For further information icgarding tfr products, Intermili can be reached at tads Paltskdea Avenue, Teanedr, New Jersey, 075M.. o Chan**, Bpu:tiqu'o Once again, The Yotutg : Ave.• and CledwQod Roan. Israel of Hediaood will Refreahmeits will.be sponsor a Ch•aA'uka served. Come sad e,gjoy . boutigpvtoaturipg n • with aa.thq;oplrj-tof the. Selection of. fine Ofb& for . hollday;.+ - �.• . + ts;. the entire family. The ' boutique will be held . Sunday, December d, 1993 at 8 p.m.'at. the Yo.urf8 Israel of Redwood located at 619 B. 76th St., Brooklyn, between Ralph �` •�_M '' d rf• • - Y r Y-! �� •I•s ♦ j• h CY .t �1 is t; ' :. iz ` ;:i'` ,1� '� ,a -�� , ,, ��'i"� a yir•..3ia= i '•s;';;i . :;T ' JoCt a "� 'ti' !� • '+::,Siui 411 :r w� � � n ,t,, i, .� 'y ` �, _ w � ,ii,�� to _` „rw�s; .: v'..-,, y �I/'u . j.• '�GG''�r 4 - �'A �� R h ii � ^ v7 Y`� ?�' ..,� �y-• J � •..��.. �. : ilk •b. t. i�i' 1ii�a'itllli]k"t•` ' `,laws li`��:��L'ai1!ay� L. r+r� i y. 1\����,t �jj +mil. l� ,In/ wli t. 1'j' L.1..� .•.ci .) ;1 •• ♦aK.�•'��{ 1, . }• :� �J�- ,���,':��i.��4�3.7f�'l.' .r++. � ,.:t:. `�j"V.. tYn yy�+Z,.�:_:.;: �✓ ,1G r+•. �� ��Y.+1.�i1 t�7 4 � 1 ;t K 1 �.1 Q..0 FYI 'f Al drew glshos, br-aut W:ty�• [I 'ri,. r l a 95 66 1 R Department of at Trossrry - Interval Mvemee service 1040 t U.S. Individual Income Tax Ref LabelFor the year ,tao.' I -Doc. 31.1003, of @Cliff tax:s( lfgleo our rst name and Initial (See ISRAEL FRUMER )3 I IRS use only - Of met write of staple le this spat*. 11e3. fadiall ,11 DUB No. IN6-0014 Ile. yeti "Clio security "Oka • •. - Use IRS label. Hmne address umber and sues . I you have a P.O. box, see page 12. AP` no. For Privacy Act and Otherwise. please print or type. 277 ASH STREET ty, town or post office, state, and ZiP code: If you have a foreign address, too page 12. Paperwork Reduction Act Notice, pa.le 4. p A �ENGLEWOOD'CLIFF`SrNJ . 07632 Ye: Ho Note: Ckscilell will lot Presidential Election Oo you want'S3 to go to this tundi................................................................................................... X o yoorx of c�haogta retireeyear rda/ Campaign it oint return, does our spouse want $3 to o to this fund? ........ a.........................................................X ti Single Fiiing Status 2 X Married filing joint return (even If only one had Income) 3 Married filing separate return. Enter spouse's soc. sec. no. above and full name here. ► (See page 12.) 4 Head of household (with qualifying person). if the qualifying person is a child but not your dependent, enter this child's Check only name here. i► one box. S Qualifying widowler) with dependent child ( ear spouse died 10-19 )• 6a YOutaelf. Brlobf spirran "r e a a•ct the elm x m casro ee 2 epee eat an s of Off tfx rftarv, o aot a box *. i�b claim No. of boxes ea 6e 2 Exemptions p b ®Spouse ................9....................................................................... ............................... .... and 6b em16b (See page 133 „IO., tat to ... s ...tea. 1 ar.a • we. of year ' 111/tea go 6e a Control number ' Void ❑ This information Is being furnished to•thd Internal Relienue Service. If you•are iequked to'•. fife *.'tax mum, •a negrlgerice penalty or other sanction may be Imposed on you if this . I income Is taxa* andYou fail to report It.*' b Employees identification number 1 -Wages, tips, ottw compensation. 2 Federal income tax withheld e Employees name, address, and ZIP code 3 Social seourrty wages 4 Social security, tax wiu>field " XNTERHILI INC. � S Medicare wages and tips 6 medicare tax withheld 1443'MISADE AVENUE TEANECKo .• INJ 07.666 T . Social security tips 8 Allocated Ups d Employee's social security number 9 'Advance EIC payment 10 Dependent care benefits II8-40—>;583 . name. address, and ZIP bode 11: Nonquaitrred plans 12 Benefits included in Box 1 ISR MI'd AMER 13, See Instrs, for Box 13 14 -Other 277 ASH STRISET NJ5UI ENGLEWOOD CLIFFS+N.J. 0763x : . I20. 83 11JSDi' t is Sumtory .-Deceased iperrsion 942 bubtoW•• akned. . employee;. • pun rep. emp. comptnsatiort 16 suit ••EmOtoyees'state I.D. No. ..�7535MnQ0.-:4....... 1T Ws. tit .I4TSD.QlJ Is State kwome tax ----..i94r5D................. 19 Locality name 20 LoW w+pes• lbs. ilea .... ... 21 Loal income to .. .. J. . *e: . lived with you . dide't live with as due to divorce r sepenuos we page Ili) speadeets on 6c 2 st existed above odd somben , atered on Ines above 4 10,750. 0. -71 4,072. <5,365.> 11. Wage, and Tax .. ; . 11, 2507. LL€ W m2 Statement 1 993 Copy C For EMPLOYEE'S RECORDS (See Notice on back.) OM8 No. 1545;0=1 27 Keogh retirement plan and self ernyruyed SEP deduction 27 ............... .. (j ::s�:>ss>:•: 28 Penalty on early withdrawal of savings 28 07 29 Alimony paid. Recipient's SSN IN, 29 30 Add lines 24a throw h 29. These are your total adjustments ...................... ► 30 127. ....... A At..r1.A 31 Subtract line 30 from line, 23. This is your adjusted -gross income. ii this amount is less Tax Compu- tation - Credits Other Taxes Payments Attach Forms W-2, W-26, and 1099-R on the front. Refund or Amount You Owe :L FRUMER &- AV. 32 Amount from tine 31(adjusted Bross incomei................... „.............. ............. „.............. ................... 334 Check if., a You were 65 or older, M Blind; M Spouse was 65 or older, M 0littd. Add the number of boxes checked above and enter the total here ................ „..„,....... ► 33a b If Vow parent (or someone else) can claim you as a dependent, check here .... „,,,„,,,,,-, ► 33b e If you are married filing separately and your spouse Itemizes deductions or you are a dual -status alien, see page 24 and check here ..„ ... „................. „,.„....... ► 33c � [� 34 Itemized deductions from Schedule A. line 26, OR Enter the Standard deduction shown below for your Citing static. Bat If you checked larger any box on line 338 or b, go to pope 24 to find your standard deduction.. If you checked box 33c, your standard deduction is zero. of • Single - $3,700 • deed of household - $5,450 Yaw. a Married f cling Jointly or Qualifying wtdow(ed - $6,200 * Married filing separately - $3,100 3SSubtract line 34 irom line 32»..............„...............:...................„...........-........................................ 36 If line 32 is $81.350 or less, multiply 52,350 by the tote) number of exemptions claimed on line be. If line 32 Is over $81,350, see the worksheet on page 25 for the amount to enter ,,,,,,,,,,,,,,,,,,,,,,,, 37 Taxable Income. Subtract line 36 from line 35. I line 36 is more than line 35, enter -0-, ,,,,,,,,,,,,,,,,,,,,, 38 Tax. Check If from a ® To Table, b n Tax Rate Schedules, a C7 Schedule D Tax Worksheet. or d 0 Form 8616 (seepage 25). Amount from Form(s) $814 ► a 39 Additional taxes (see page 26). Check if from .: If 0 Form 4970. b Form 4972 ,,,,,,,,,,,,,,„..... 40 Add.lines 38 and 39........................ .......... ........................................ ............... .......... ........... ► 41 Credit for child and dependent care expenses. Attach Form 2441 41 42 Credit for the elderly or the disabled. Attach Schedule R . 42 _ 43 Foreign tax credit. Attach Form 1116................................................ 43 u Other credits. Check if from a[_'::] Form_3800 b Q Form 8396 c [] Form 8801 d M Form (specify) 44- 45 Add lines 41 through 44 ............ ***...**.*.........*"*****"**"***'.......... 46 Subtract line 45 from line 40. If line 45 is more'dw line 40, enter -0- ► 47 Self-employment tax. Attach Schedule SE. Also, see line 25 ............................................................... 48 Alternative minimum tax.Attach Form 6251 ...,...... ... ............... ............ ....... 49 Recapture taxes. Checle if from a E3Form 4Z55 in 8611 a Form 8828 50 Social security and Medicare tax on tip income not reported to employer. Attach Form 4137 51. Tax on qualified retirement plans, including IRAs. If required, attach Form 5329 .................................... 52 Advance earned income credit payments from Form W-2 ..................................................................... 53 Add lines 46 through 52- This is your total tax.............................................................................. ► 54 Federal income tax withheld. if any is from Form(s) 1099, check ► 54 55 1993 estimated tax applied from 1992 return 55 payments and amount a .,,..,,;, 56 Earned Income credit. Attach Schedule EIC 56 57 Amount paid with Form 4868 (extension request),,,,,,,,,,,,,,,, ,,,,,,,,,,,,,57 58a Excess social security, Medicare, and RRTA tax withheld ................ 584 b Deferral of additional 1993 taxes. Attach Form 8841 .............................. 58b 59 Other payments. Check If from a CD Form 2439 b[]Form 4136 ,,,,,, 59 60 Add lines 54 through 59. These are your total payments............................................................... !• 61 If line 60 is more than line 53, subtract line 53 from line 60. This is the amount you OVERPAID ......... ► 62 • Amount of tine 61 you want REFUNDED TO YOU ,,,,,,,,,,,,,,„.;.,,,,,.,,,,,,.„. ,,,............................. .............,_,,,,...... ► 63 Amount of line 61 you want APPLIED TO YOUR 1994 ESTIMATED TAX ►) 63 1 64 If line 53 is more than line 60, subtract line 60 from line 53. This is the AMOUNT YOU OWE. For details on how to pay, including what to write on your payment, see page 29....................................... 65 Estimated tax penalty (see page 29). Also include on line 64 .....................1 65 ul 41,772. <30.642.> • 400. a �. a M d t3i a 254. 0 0 3 w: .t 64 1 • 254. Under penalties of per)Yry, I declare that I have examined this return cad accompaayfeg schedules ud suttmests tad to the best of say hsowledge and Sign belief, they ere tree, correct cad complete. Declaration of prapater (other than tsxpsyer) Is based as all idormatlos of whfth preporer has ay knowledge. Here year signature Date ITow occapalloa Keep a copy XECUTIVE of this return Spouse's signature. It a joint return, BOTH most sign - Date Spouse's occupsl(os for your records. XECUTIVE Preparer's ' tigaaturo Paid Preparer's social security Be. Check it sell- emplayed r 144 s Firm': name for ROBERT D DODD CPA E. Life. 2 Z t) L tS 0 o D 1 " Use Only yours It sell- em- �► 35 VAN WAGONER AVE ZIP code 07 3 ployedl ad a(drest CL I FTON , N.J. Sct�EnuuE aim (�orm 1040 Schdule A - Itemized `Deductions e oMe '° 6 e-aa 74 1993 deprttnent et � Treasury (Schedule 6 is on page 2) A„°�,� Interne= Revenue Service Attach to Form 1040. See instructions for.Schedule A (Form 10401. La °e13e.'•0 • • NemeW shown on Form 1040 Your social security number ISRAEL FRUMER & -AVIVA FRUMER 118140 and Caution: Do not include expenses reimbursed or paid by others. ..: ,. Dental Expenses 1 Medical and dental expenses (see page A-11 1 ' , .......................................................... 2 Enter amount from Form•1040, line 32 :....�{.: 2 3 ...... Multiply line 2 above by 7.6% 4075) 9 ` .........................................................................• . 4 Subtract line 3 from line 1. If zero or less, enter -0- ' ' :;:, '► ,4 Taxes You 5 State and local income taxes .5 2 :0 9 4 . Paid 6 peal estate taxes(see page A-21 6 4 655 . (Sec 7 Other taxes. List - include personal property taxes pageA-1.) ►---- - - - - - - - ------------------------- �- ---------------------------------------- 7 8 Add lines 5--through7------------------------------- 8 6 749. Interest 9 a Home mortgageinterest and points reported to you on Form 1098 .................... , .,, 9a 34.503. You Paid b Home mortgape interest not reported to you on Form 1098. If paid to the person from (See .. '-'whom you bought the home, seepage A-3 and show that persods name, Identifying no., page A-2.) and address ► .. ----------------------------------------- . Note: 9b Personal interest is 10 Points not reported to you on Form 1098. See page A-3 for special rules 10 ........'...•••• not 11 Investment interest. If required, attach Form 4952. (See page A-3.) hi deductible. 12 .......:................•••••• Add lines 9a through 11...................•..•.....•................. „......•••••• . ►. 12 .....................................................• 34,503. Gifts to Caution: If -you made a charitable contribution and received a Charity benefit in return, see page A-3. (See 13 Contributions by rash or check 13 520. - page A-V .14 Other than by cash or check. If over $500, you MUST attach Form 8283 ............ 14 15 Carryover from prior year 15 .......................................................... 16 Add lines 13 through 15.................................................................................................................. ► 16 520. heal 11sses 17 Casualty or theft loss(es). Attach Form 4684. (See page A-4.) .•.........••...,•, ► ............................................ 17. sW14" en es 18 MoVin ex enses. Attach Form 3903 or 3903-F. (See a e A-4.1 ► ......................................................... 18 Job Expenses 19 Unreimbursed employee expenses - job travel, union dues, job education, etc. and Most Other Miscellaneous If required, you MUST attach Form 2106. (See page'A-4.) Deductions ► ' ----------------------------------------- ----------------------------------------- 19 20 Other expenses - Investment, tax preparation, safe deposit box, etc. List P L P p p type end amount (See ►----------------------------------------- page A-5 for expenses to deduct here.) - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - ----------------------------------------- ------------------------------------ - - - - 20 21 Add lines 19 and 20 21 22 Enter amount from Form 1040, line 32 22 23 Multiply line 22 above by 2% (.02) ..................................... 23 24 Subtract line 23 from line 21. If zero or less, enter-0...................................................................... ► 124 Other 25 Other - from list on page A-5. List P g type and amount M10 z Miscellaneous Deductions- ► - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -4ii - - - - - - - - - - - - - - - - - - - - - - - - r- - - - - - - - - - - - - - - - - - - - - - - - - - /}f{• - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - •- - - - - - - n4>i ► 25 Total Itemized 26 Is the amount on Form 1040, line 32, more than $108,450 (more than $54,225 if married tiling Deductions separately)? 6 • NO. Your deduction is not limited. Add lines 4, 8, 12, 16, 17, 18, 24, and 25 and enter the total 1 ► . l % 7?;} here. Also enter on Form 1040, line 34, the larger of this amount or your standard deduction. • YES. Your deduction may be limited. See page A-5 for the amount to - WE enter. r_, n.- r., u..f.,. ... 9: „ Inge inrfn.nfinne Crh.,l���• A (Form 10401 1993 acle/etes astw.t0/M 1O11 .-.—.� OMS me, NeweW shows n faro 10/0.0e act eater uwe eed vd pan elety asw0utl q,awa a. rele 1. n :: ••'.lrm:".: - . , Yew -- ---- ,. FRUMER iSe 2 ..;. eiber - • Schedule B - Interest and Dividend Income,�,� a..08 Part Note: If you had over $400 In taxable interest income, YRY must also complete Part III. , Interest i ,.Interest Income _,.. _ ._ _ Amount Income 1 List name of payer:'f iiiy interest is from i aetler-financed mortgage and the toyer used the property as - ipersonal residence, seepage 8-t Ind list this interest first Also show that buyer's social security number end address 1► Note: If you received a Form 1099-INT Form 1095-010, or substitute statement from abrokerage firm, list the firm's name as the payer and enter the total interest shown on that f orm. NATIONAL 13UUA 4VLVbV-UXVk 1VA0 LESS AMOUNT ' HELD IN ESCROW - ; ' - ;.. _ 2 Add the amounts on line 1 ....... .... .. . ..... ..... .. . .. . ..... 8 Excludable interest on series EE U.S. sevings bonds issued after 1989 from Form 8815, line 14. You MUST attach Form 8815 to Form 1040 ••,••,••••••,••••• •• ••••••••••„ ......••••••......•••••,„•••••. •, 4 Subtract line 3 from line 7- Enter the result here and on Form 1040, line 8a.................................... ►1 1 + f • <1 r 579 .> 2 3 4 Part 11 Dividend Income Note: If you received a Form 1099-01v, or substitute statement from a brokerage firm, list the f irm's name as the payer and enter the total dividends shown on that form. Note: If you had over $400 in gross dividends and/or other distributions on stock, you must also complete Part Ill. Dividend income 5 List name of payer. include gross dividends and/or other distributions on stock here. Any capital gain distributions and nontaxable distributions will be deducted on lines 7 and 8 5 Amount Part Ill Foreign 6 Add the mounts on line 5................................................................................................ .... 6 ........... 7 Capital gain distributions. Enter here and on Schedule 0* 7 8 Nontaxable distributions..................................................................... 8 9 Add lines 7 and 8 9 ........................................................................................................................... 10 Subtract line 9 from line 6. Enter the result here and on Form 1040, line 9 ► if .................................... *If you received capital gain distributions but do not need Schedule 0 to report any other gains or losses, see the instructions for Form 1040, lines 13 and 14. ; iy If you had over $400 of interest or dividends OR had a foreign account or were a grantor of, or a transferor to, a foreign trust, you must complete this part. Yes No Accounts tta At anytime during 1993, did you have an interest in or a signature or other authority over a financial and account in a foreign country, such as a bank account, securities account, or other f inanciat account? ................................. Trusts b If "Yes," enter the name of the foreign country ► 12 Were you the grantor of, or transferor to, a foreign trust that existed during 1993, whether or S430 not you have any beneficial interest in it? If "Yes," you may have to file Form 3520, 3520-A, or 926 X ................... . For Paperwork Reduction Act Notice, see Form 1040 instructions. Schedu (Form 104011993 95- 66 SCHWULE o .. Vapital Gains and Losses (Form 1040) aePertma+t sl Me troaeery Is- Attach to Form 1040. ► See Instructions for Schedule 0 (Form 10401. IaletsDl NDwa• terrte. ► Use lines 20 and 22 for mores ace to Nit transactions for fines 1 and 9. Naw*W skews se Fern1040 ISRAEL TRUMER• & -AVIVA FRUMER ' • Shert-Term Canitall Gains and Losses ` Assets Held One Year or Less . MO me. 164"074 , 1993 ` Smile«: ale. 12 Your social security somber 11814018583 ODstxf ties el 44 pD oty Opti s of 100 sb. XYZ co.) lb) aft* ec a red ' • 4d) Sales Price W tv of other 0) LOSS N W Is more the$ (4, sobtract 14 from (D) b) GAIN 0 (4 Is me D thes (eb ' subtract (q (rem (4 Id Date sold 2 Enter your short-term totals, If any, from line 21 ............ 2 -3 Total Short -Term Sales Price Amounts. Add column (d) of lines •1 and 2 3 Y 4 Short-term pain from Forms 21.19 and 6252, and short-term gain or (loss) from Forms 4684, 6781, and 8824............................................................................................. 4 5 Net short-term gain or (loss) from partnerships, S corporations, and f iduciaries from Schedule(s) K-1 5 6 Short-term capital loss carryover from 1992 Schedule 0, line 38 6 ................................................... 7 Add lines 1, 2, and 4 through 6, in columns (f) and (g) .......................................................... 7 .8 Net short-term capital gain or (loss).-i"ombine columns M and () of line 7................. :................................................ 8 z W.— 1-11 1"411 Lona—Term Caoitai Gains and Losses — Assets Held More Than One Year 9INSTALLMENT PROCEEDS HELD IN ESCROW 0/00/93 26,108. LOSS OF PARTNERSHIP 5 00 88 INTEREST A & M BUILDERS 6/15/93 175,508. 171,436. 4,072. 10 Enter your long-term totals, if any, from line 23 ............ 10 • On'•YYJ'+}+•>}'43f+�>d::V„!.• fr.,•v;::s,;:�;��';,'•;#;�Rst �:,•:1'41'} 11 Total Long -Term Sales Price Amounts. Add column (d1 of lines 9 end 10 11 175,508. ;;+;:y}:;;}y:: '•y,•r'.:�;.r, :.+.� r.::7EEi;: ::::{rr::::�::..� ,�:, :�:a.<z;rp..;:�;.,4..a.•.1%:fj:4 x;::;,•.: } ,:•.. : >f:..k�: ,.,�, '{is } }•ag;::k;:�r.^"'i.:ti.'1''iri{nY .; `:`:s•ys:;ti}::5::::<i:y;`: r,:•�,; sv{,•`r ;�4 ? $�j$ti.. �},+.,;v,.:,.<�.v.... fi...y��.<.:>::• >v a i•..'.. ••::s�! ,,. ..Y,:::: �iy{}ri,•rar• vK f•,;.•: r tor^; /}4 ; t f < r. %�:1%r.? 12 Gaia from Farm 4797; long-term gain from Forms 2119, 2439, and 6252; and long-term gain or (loss) from Forms 4684, 6781, and 8824 SEE STATEMENT 3 12 ........................................................................... 26,108. 13 Net long-term gain or (loss) from partnerships, S corporations, and fiduciaries from Schedule(s) K - 1 ............................................................................................................... 13 14 Capital gain distributions F} i:S�iiry9i �/�f•�}��J•�r4��}:r� 14 ............................................................................ 15 Long-term capital loss carryover from 1992 Schedule D, line 45 15 >,:? `+,yam/ y„ 16 Add lines 9, 10, and 12 through 15, in columns M and (g) ............................................ ..... ..... 16 ( 26, 1084 30,180. 17 Net long-term capital gain or (loss). Combine columns M and () of line 16,,,,,,,,,,,,,,,,,,,,,•••,,,•,,,„•„......•,•••.•,•••,•„•..,,,•„ 17 4 , 072 . SUmma OT rar[S 1 ana II 18 Combine lines 8 and 17. If a loss, go to line 19. If a gain, enter the gain on Form 1040, line 13. Note: If both lines 11 and 18 are gains, see the Schedule D Tax Worksheet on page 0-4 �• 18 4,072. If line 18 is a (loss), enter here and as a (loss) on Form 1040, line 13, the smaller of these losses: • a the (loss) on line 18; or r� t, b ($3,000) or, if married filing separate, ($ 1,500)......................................................................................................... 19 ( (U ) Wnr1•4hoof nn Mno n-d if iho Into nn lino 1R eXCRrtiS ...:...:...}lrr..+.•�ca x........:.... �•:ir..a•:::. Schedule E (Form 10401 1993 -' Attachment Sequence_ No.13 ""`"� OMB No. 1545-0074 Page 2 me rn Naon retuo not enter name . socia, ,ur ty n er awn on ape , = Your soc a tum security ter ISRAEL FRUMER-& AVIVA FRUMER 1.18-40- amounts from farming or fishing on Schedule E, you mutt enter your gross income from those activities online 41 below. Income or loss From Partnerships and S Corporations If you report a loss from on at -risk activity, you MUST check either column (a) or M of line 27 to describe your Investment In the activity. If you check column (f1, you must attach Form 6198. 27 (a) Name b1.wla MI...,E. S s e) Check If leral eraers tI (dlEtmployer Identificatign number w1.aw.r,uewr air MM,IIII M,p� A A.M. BUILDERS P 22-28967 1 X E Passive Income and loss Nonpassive Income and Loss (91 Passive loss allowed (attach Form 85$2 if required) (h) Passive income from Schedule K-1 (il Nonpassive loss from Schedule K-1 (n Section 179 expense dei ducton from Form 4562 (k) Nonpassive income from Schedule K-1 A 5r365. B C D E 28a b 29 30 31 Totals Totals ............ � ' ' 5,365.1 Add columns DO and (k) of line 28a Add columns (g), (il, and (11 of line'28b ....... Total partnership and S corporation income or (loss). Combine lines 29 and 30. Enter the result here and include in the total on line 40 below........................................................................... } 29. 30 ( 5,365.) 31 <5 , 365 .•> ,ono t rusts 32 (a) Name . 'Ib) Employer A B C Passive Income and Loss Nonpassive Income and Loss (cl Passive deduction or loss allowed (attach Form 8582 if required) Id) Passive income from Schedule K-1 (el Deduction or loss from Schedule K-1 (f) Other income from Schedule K-1 A B C 33a Totals } . '.{>s"Sa{f sue»';}"{:'::rs :.s,�• b Totals ....... ...`:k l 34 Add columns (d1 and (fI of, line 33a 35 Add columns (c) and (e) of line 33b 36 Total estate and trust income or (loss!. Combine lines 34 and 35. Enter the result here and include in the total on line 40 below..................................................................................................................... 35 ( ) 36 I IRiu1119 us O. u.■ fluid naza Cfl.la ,n OI101nn In WACTM,ini CON,Iui.! IW4MICe1 — Q_eld. 1 Yw1A_r 37 lal Name (b) Employer (cl Excess inclusion from (d) Taxable income (net 0, loss) from Schline Sce) Income from identification number Schedules (l, line 2C bedules hedules line 3b 38 Combine columns (d) and (e) only. Enter the result here and include in the total on line 40 below .................................... i 38 JY11111141T Va7111ViN Vr- Y'AZ)0..VL ktu.1:1V1,XX 39 Net farm rental income or (loss) from Form 4835. Also, complete line 41 below 39 ................................................... 40 TOTAL income or (loss). Combine lines 26, 31, 36, 38, and 39. Enter the result here and on Form 1040, line18...................................................................................................................................................... 40 <5, 365.> 41 Reconciliation of Farming and Fishing Income: Enter your gross farming and fishing income reported in Parts 11 and III and on line 39 41 r 1993 Income f.roni PassAhroughs A.M. BUILDERS I.D; NUMBER: ACTIVITY.INFP.RMATION: AOMO-"'BUILDERS 10OVDISPOSITION -AT A NET,LOSS RENTAL REAL ESTATE INCOME . (LOSS) SCHEDULE E ACTIVITY,INCOME (LOSS-) -5 r 365 SCHEDULE SE .: Self -Employment zik oµa It.. Ins -ooze (Form 1040) 1993 6o Ww4at o1 Me lnaeery Ili- See instructions (or. Schedule SE.(Form 10401. Aaeclreoat levered ltwoaae sorvice. ►' Attach to Form 1040. serieeoa i1e.17 Name of person with golf -employment income (as shown on Form 1040) Social security number of person with self-employment income ►"•,:, Must Fite Schedule SE You must file Schedule SE if:... • Your wages (and tips) subject to social security AND Medicare tax (or railroad retirement tax) were I n tttari 5135;000; AND • Your net earnings from self-employment from other than church einpfoyee income (line 4 of Short SchWle SE or line 46 of Long Schedule SE) were $400 or more OR ' _ _.. ; .. ;•:: • You had church employee Income of $108.28 or more. Income from services.you performdd as a minlste_r. ores member of..a religious order Is notzhurch employee income: See page SE-1.. Note: Even if you haves loss ore smell amount of income from self -employment, it maybe to your benef it to file Schedule SE and use dither "optional method" in Part II of long Schedule SE. See page SE-3.- Exception. If your only self-employment Mcome was from earnings as a minister, member of a religious order, or Christian Science practitioner, ANO you filed Form 4361 and received IRS approval not to be taxed on those earnings, 00 NOT file Schedule SE. Instead, write "Exempt -Form 4361" on Form 1040, line 47. - May 1-Use Short Schedule SE or MUST I Use Ldrig Schedule SE? • Oid u roceive wa es or ti sin 19937 ' No Yes Are you a minister, member of a religious order, or Christian Science practitioner who received IRS approval not to be taxed Yes on earnings from these sources, but you owe self-employment tax on other earnings? No Are you using one of the optional methods to figure your net Yes earnings (see page SE-3)? No Did you receive church employee income reported on Form W-21 Yes of $108.28 or more? No I YOU MAY USE SHORT SCHEDULE SE BELOW I Was the total of your wages and tips subject to social security I Yes or railroad retirement tax plus your net earnings from self -employment more than $57,6007 • _I_ No Was the total of your wages and tips subject to Medicare tax Yes plus your net earnings from self-employment more then 5135,0007 No Did you receive tips subject to social security or Medicare I Yes tax that you did not report to your employer? I YOU MUST USE LONG SCHEDULE SE I Section A - Short Schedule SE. Caution: Read above to see if you can use Short Schedule SE. 1 Net farm profit or (loss) from Schedule F, line 36, and farm partnerships, Schedule K-1 (Form 1065), line 15a.................................................................. ,....................... 1 2 Net profit or (loss) from Schedule C, line 31; Schedule C-EL line 3; and Schedule K-1 (Form 1065), line 15e (other than farming). Ministers and members of religious orders see page SE-1 for amounts to reporton this line. See page SE-2 for other income to report SEE STATEMENT 4 ....................................... 2 1,800. ........................................................... 3 Combine lines 1 and 2 . 3 _ 1, 800 . ......................................................................................................................................... 4 Net earnings from self-employment . Multiply line 3 by 92.3596 L9235). If less than $400, do not file this schedule; you do not owe self -employment tax � .............................................................................................. 4 1,662 amount on line 4 is : f 5 Self-employment tax.. $57,600 or less, multiply line 4 by 15.3% (.153) and enter the result. • More than $57,600 but less than $135,000, multiply the amount in excess of $57,600 by 2.9% (.029). Then, add $8,812.80 to the result and enter the total. • $135,1100 or more, enter $11,057.40.g Also enter on Form 1040, line 47. (Important: You are allowed a deduction for one-half of this amount. Multiply line 5 by 50% W and enter the result on Form 1040, line 25.1..................................................................... 5 S430 For Paperwork Reduction Act Notice, see Form 1040 Instructions. Schedule SE (Form 104011993 95-- 66 n�A ISTALLMENT SALE NO. 1 6�5� • Installment Sale IncomeFarM. ► Attach to,yoer tax return. 9=101"O el Me tISVIV Use a separate form for each sale or other disposition of property on the Instalment method. Ntwaal Iletnw iertr a .. • . ;. Icnal+t ebera as r�lare :ur •n :.: ; i 1441atilyla4 amber `te• , CSRAEt, FRUMER & AVIVA FRUMER�* 1 Description of property ► `—COMMON "STOCK- NATIONAL _ BOOK CONSOLIDATORS 2s Date acquired ljmanth, day, and year) ► 1 I b Date sold (month, day, and year) Do- 3 Was the property sold to a related pity after May 14,1980t_.............................. »....... »»,..»................................ 4 if the answer to question 3 is "Ytu, ." the property.a marketable security? If "Yes," complete Part.11l. If "No,' complete Prt III for the veer of sale and for 2 vears after the Year of sale ............................................... OW No. IN5-o22a 1993 Attachment Sequence No.- 79' 02 01' 88 . Yes No LM Gross Prof it'and Contract Price. Complete this part.for the year of sale only.. 5. M 5 Selling price Including mortgages and other debts. Go not Include interest whether stated or unstated 6 Mortgages and other debts the buyer assumed or took the property subject to, but not new mortgages the buyer got from a bank or other source „„........ 6 7 Subtract line 6 from line 5.................................................................................. 7 8 Castor other bests of property sold .. ..............:..:.............8 ...................................... 9 Deprecisdoq allowed or allowable................................................................. 10 Adjusted basis. Subtract line 9 from tine 8 10 ............................................................ 11 Commissions and other expenses of sate........................................................... 11 12 Income recapture from Form 4797, Part ill,,,,,,,,, 13 Add lines 10,11, and 12 ................................................... ....................................... 14 Subtract line 13 from line 5. If zero or less, atop here. Do not complete the rest of this form .................................... 15 If the property described'on line 1 above was your main home, enter the total of lines 14 and 22 from Form 2119. Otherwise, enter -0- ;? ;; ,,• , 16 Gross profit. Subtract line 15 from tine 14......................................................................................................... 17 Subtract line 13 from line G. If zero or less, enter -0- ••••••....•.. 18 Contract price. Add line 7 and line 17 .............................................................................. .... 5 : 1 14 16 18 LEM Installment Sale Income. Complete this part for the year of sale and any year you receive a payment or have certain debts you must treat as a payment on installment obligations. 19 Gross profit percentage. Divide line 16 by line 18. For years after the year of sale, see instructions ........... ,„•.........••• 20 For year of sale only - Enter amount from line 17 above; otherwise, enter -0- 21 Payments received during year. Do not include interest whether stated or unstated „ 22 Add lines 20 and 21 23 Payments received in prior years. Go not include interest whether stated or unstated,. 1 23 1 36,125. 24 Installment sale income. Multiply line 22 by line 19 „•,,,,.•••,,,•;••. .........•..._„__...••. ................................................. 25 Part of line 24 that is ordinary income under recapture rules 26 • Subtract line 25 from line 24. Enter here and on Schedule 0 or Form 4797............................................................... 19 7 7 . 910 0 % 33511. 33,511. 26,108. 1 26,108. 21 22 24 26 aelated Party Installment Sale Income. Do not complete if you received the final payment this tax year. 27 Name, address, and taxpayer identifying number of related party 28 Did the related party, during this tax year, resell or dispose of the property ("second disposition")? ................. [] Yes Q No 29 If the answer to question 28 Is 'Yes", complete lines 30 through 37 below unless one of the following conditions is met. Check only the box that applies. a Q The second disposition was more than 2 years after the first disposition (other than dispositions of marketable securities). If this box is checked, enter the date of disposition (month, day, year) ► .......... b Q The first disposition was a sale or exchange of stock to the issuing corporation. e Q The second disposition was an involuntary conversion where the threat of conversion occurred after the first disposition. d [] The second disposition occurred after the death of the original seller or buyer. a 0 It can be established to the- satisfaction of the Internal Revenue Service that tax avoidance was not a principal purpose for either of the dispositions. If this box is checked, attach an explanation. - 9 5 b' 30 Selling price of property sold by related party .......................................... :..................... ................. 1.................... 1 30 31 Enter contract price from line 18 for year of first sale 31 ...................................................................... 32 Enter the smaller of line 30 or line 31 32 ............................................................................................................... /33 Toter payments received by the end of your 1993 tax year: Add lines 22 and 23.......................................:................ 33 (1�JJ Subtract line 33 from line 32. If zero or less, enter -0- 34 3 Multiply line 34 by the gross profit percentage on line 19 1or year of f irst sale 35 ,ItlSTALLIVIENT SALE ISRAE ' R MER & AVIVA FRUMER SCHEDULE OF RECEIPTS INSTALLMENT SALE NO. 1 91-9 /r 95- 66 0bi ISRAEL FRUMERT.& AVIVA FRUMER ..; 3RM 1040. MISCELLANEOUS INCOME STATEMENT, 1 ESCRIPTION -.. _.. _ AMOUNT ESTICTI_VE .COVENANT - 41,667, 3LPE& VOLPER REAL ESTATE -1•1800, _. ESS AMOUNTHELD, IN ESCROW <41,.667.>•-_ OTAL TO FORM 1040, LINE.22 ORM 1040. WAGES RECEIVED AND TAXESWITHHELD STATEMENT- 2 FEDERAL STATE CITY AMOUNT TAX TAX SDI FICA MEDICARE EMPLOYER'S NAME PAID WITHHELD WITHHELD TAX W/H TAX TAX•• INTERMILI INC. 10,750. 0. 191. 667. 156. OTALS 10,750. 0. 191. .667. 156. -CHEDULE D NET LONG—TERM GAIN OR LOSS'FROM FORMS STATEMENT 3 4797, 2119, 2439, 6252, 4684, 6781 AND 8824• iESCRIPTION OF PROPERTY LOSS GAIN INSTALLMENT SALE NO. 1 'UBTOTALS 'OTAL TO SCHEDULE D, PART II, LINE 12 26,Zo8. 26,108. 26,108.. lCHEDULE SE NON —FARM INCOME STATEMENT 4 )ESCRIPTION IOLPE& VOLPER REAL ESTATE VOTAL TO SCHEDULE SE, LINE 2 y6 AMOUNT 95- 66 1, 800 . 1,800. nnn ' Applicat , , i for Automatic Extensio 3f Time OMB No. 1� 545-0188_ 4868 Far` to'File U.S. individual Income Tax -Return capenwoet of cue Tralwy• t ►This 16 not an 4404100 of Gets, to pay your tax. lNafal) �taleel:efVita .1993 retiuest an Automatic 4-month extension of time to August 15, 1994, to file Form 1040E7, Form 1040A; or Form 1040 for the calendar year 1993 or to ,19 , for the fiscal tax year ending , 19 IndivIdu''lil Income Taix - You must complete this Wt.' - 1 Total tax liability for 1993. This is the Amount you expect to enter on Form 1040M line 8, Form 1040A, r line 27, or Form 1040, line 53. If you expect this amount to be zero, enter -0- 1 0 Caution: You MUST enter ad Amount on line 1 or your extension will be denied. You can estimate this Amount, but be as exact as you can with the 4nf ormation you hevi. if we later f Ind that your estimate was not reasonable, the extension wilt be null end road. 2 Total payments for 1993.1his is the Amount you expect to enter on Form 1040EZ, line 7; Form 104M line 284; or Form 1040, fine 60.............................................................................................................. 2 F3 3 BALANCE DUE. Subtract tine 2 from fine 1. If fine 2 Is more than line 1, enter -0-. For details on how to -including what to write on your payment, see the instructions ...................... ...... ► Gift or Generation -Skipping Transfer (GST) Tax - Complete this part if you expect to owe either tax. Caution: Do not include income tax on lines 5o and 5b. 4 If you or your spouse plan to fits a elf t tax return (Form 709 or Form 709-A) for 1993, generally Yourself IN. due by April 15, 1994, see.the instructions and check here Spouse ► [� ........................................... Sa Enter the amount of elft'or GST tax"you are prying with this form Enter the amount of oil is paying with this form Sb Signature and Verification Under penalties of perjury, I declare that I have examined this form; including accompanying schedules and statements, and to the best of my knowledge and belief, it is true, correct, and complete; and, if prepared by someone other than the taxpayer, that i an authorized to prepare this form. Test HOaelote Data speow's rlteatere,ll(oleo jelally I gale proporer s sl9utoro lather thee taxpayer) ' Oats It you want correspondence regarding this extension to be sent to you at an Address other than that shown Above or to an agent acting for you, please enter the name of the agent andfor.the address whorls it.should be sent. Plana Type or Print ROBERT D DODD I C: p P1 Nswbet ssd slreal (loclods salts, roag% of opt. go.) of p.o. boa aoubor it wail is all delivered to algal gddregs 35 VAN WAGONER AVE •..t, ....a .. F.a..I..c.. a.a.a, an- Llr Fogg CLIFTON, N.J. 07013 b4Ju raparwort resonation Act Notice, 546 Instructions. 1� 7 Form 4868 (1993) 95- 66 Form 26�� r Oeperttt to the treasury Internal Revenue Service floor lltd onto yd Plata type or print. File the orloinal and one copy by the due date 'Application'for Additional Extension of Time to 1711e U.S. individual Income Tax Return ► sec f ilitig instructions. ► You MUST complete all items (hat apply to you. . _. 7 Lou need all first also ua leftist Lou some me. at total foots). n yea rive a P.O. aes, sad OMB No. •1545-001: 1993 Ndclmda1 a4awea Ills 59 -,'.•. • return. city, Iowa of pad efltce,{tata, gad alp coda b34c 1 1 request an extension of time until 10 15 _ _ _ _ : _ _ , 19 94 to ftle Form 104DEL Form 104OA or Form, 1040 for the --- --- calendar year 1993. or outer tax year ending Is-- 2 Have you filed Form 4868 to request an extension of time to file for this tax year? .................. . ®Yes []. No It checked `No.' we will pr;nt your extension only for undue hardship. Fully explain the hardship on line 3. 3 Explain why you need an extension ► t _ _ _ _ _ - - - _ - - . _ INFORMATION.eNECESSARY_'TO _ COMPLETE_ IS TH_ RETURN_ IS_ NOT YET_ AVAILIBLE_ _ _ _ _ _ ------------- - - -- -- - -- ---- --- -- - ------ -- --- --- ---- ---- •------------•------------------------------------------------------- - - - - -- - -------------- -----------------,.=`--------------------------------------- - -=------------------------------------------------ ---- - - - - -- -..:.� ------------------------------------------------------------------------- If you expect to owe gift or generation -skipping transfer (GST) tax, complete line 4. 4 If you or your spouse plan to f ile a gif t tax return (Form 709 or 709-A) for 1993. generally due by Yourself ► Q April 15 1994, see the instructions and check here ............................. ........................ Spouse ... ......... ► ED Signature and Verification - Under penalties of perjury. I declare that I have"examined this form, including accompanying schedules and statements, and to the best of my knowledge and belief, it is true, correct, and complete; and, if prepared by someone other than the taxpayer, that I am authorited to prepare this Corm. Signature of taxpayer ► Date ► Signature of spouse ► Date ► . - (If tiling jointly, BOTH must sign even if only one had income) Signature of preparer other than texpayer ► Date ► File original and one copy. The IRS will show below whether or not your application is approved and will return the copy. Notice to Applicant - To Be Completed by the IRS [] We HAVE approved your application. Please attach this form to your return. Q We HAVE NOT approved your application. Please attach this form to your return. However, because of your reasons stated above, we have granted a 10-day grace period from the date shown below or due date of your return, whichever is later. This grace period is considered to be a valid extension of time for elections otherwise required to be made on returns filed on time. Q We HAVE NOT approved your application. After considering your reasons stated above, we cannot grant your request lot- an extension of time to tile. We are not granting the 10-day grace period. Q We cannot consider your application because it was filed after the due date of your return. [] We HAVE NOT approved your application. The maximum extension of time allowed by law is 6 months. 0 Other --------------------------------------------------------------------- 08eUoe ey: Dole 9 5 0 K) Name I? OBERT D DODD CPA It you want the copy of this form returned to you at an address other than y NreAer sad %vui Urclr/o adlld, roam, of opt. no.) or P.O. Aga sum0et It read Issot Ielhorollo Wool a//rest that shown above or to an agent acting or 35 VAN WAGONER AVE for you, enter the name of the agent print. City, lows or post offfu, %fold, cad ZIP code and/or the address where the copy low -'C"610 VE DOM WILIO 0 A46160CA pm PL • AM to - A dtg spol"aia-podiogwom I J. ncivm F QQ. -9%19 IGW vl�e a T I�T NO. -60A m X:6,MCTM OCYA?TlrL R all IirlrC ru N7 VOW', • GRO .;;'�"§TO.'.TGO.- 21-3-90. got* 40 7. ourLIGADO I W. 66 �y rN r) E7 U. Q 99 --q6 to 'IVYWA.ym'�A it I- vla� 99 m rwcyoncckc .3 Mtl R A C 10 1; El' 51, - 11 Fit Joe • 06 .0 kill. F. A ftifn "MrA Im" %%I f4a t"gb3atpla. arwo"Wel Pig• - --r- VK'" 41• 4 ."A • vfm3o19vv 6 OlwNym go 01OW6 is 27. t I certify the attached is.a true and correct copy of the c4s, '66ncorporationof UNITED FOOD, INC., a Florida corporation, filed on July Z'A�99,4.­, as, shown by the records of this. office. The document number of this -corporation is P94000050309. CR2E022 (2-91) ftm unbff mp banb anb the &reat &eal.of the &tatr of ffloriba, at 194hbrigw, the Capital, tbW the Seventh bap of July, 1994 Tim '$MU4 9 5 - ,$ecretarg of State H19 ARTICLESI of WCOMORATION JSUBMITTED FOR FILING of 40L 7 1994 uNnI;D FooD, INC. �f+CRETARY OF STATE TALlAMASSEE, FLORIDA The undersigned fie ft" Articles of Wow aim In order to form a acupo Um f under the taws of the 6tate of Florida. , ad ARTICLE 1 The name of this corporation shad be UNITED FOOD, INC. The existenoa of thts corpomdm shad commence upon the ON d these Mtides of Inoorporatlon and shall contimm Perpetualy'unto" dksohw according to law. ARTICLE p The corporation k being omwAxod for the purpose of uwmcting any and am Iawfnl business parrNtted under the tawe of the state of Florida and the taws of the United States. ARTICLE III The authorized capital of this oorpormdm dial conalst of Ten Thousand t3haroa of Common stockowith par value of One ($1.00) Oolkr per share. AN of the stock be payable In cash, real or personal property, or labor or seMoes In leu of cash, the valuation of any of the above to be died by the board of dlreotore of this corporation. ARTICLE IV The street address of the initial principal odloe and the name end address of @'a registered agent shall be ae follows: INITIAL PRINCIPAL OFFICE: 1717 NORTH BAYSHORE DR(M SUITE 2137 MIAMI, FLORIDA 33132 REGISTERED AGENT: ROBERTO A. TORRICELLA, JR. ANANIA, BANOKLAYDER i BLACKWELL ONE INTERNAVONAL PLAOIi, 6urTE mo 100 B.E. SECOND STREET MIAMI, FLORIDA 33131-2144 ARTICLE V The initial board of directors of the oorporatlon shall be oomposod of one person. The name and addreoa of thle oorporation's direotor Is as follows: ALBERTO FERNANDEZ DE CASTi10 617 S.W. 94 COURT MtAMI,FLORIDA 33174 95— - 66 co O 0 0 CD CA Gi too 0 m r f ARnCLE vt The name and address of fie incorporator of dots corpmeUm is: ALBfE,RTO FERNANOEZ OE CASTRO 617 B.W. 94 COURT MIAN, FLORMA 33174 AFMCLE VN Tha oorporaftL by duly adopted actlon of fJte board of dk6oAm may kxk mify and kwurs he otRoas and dkedom to the extent now or hamaftiD4 pwmttted by taw. W W(TNEB5 YMEREOF, the undeMW"d, bektp the cOgh d Incorporate of the above named oorporatton, for the purpose of fmfty a owporation to do busktesa both wiftttn and arithout the State of Florlda, putauartt to ffle (awe of the state of Florida, don hereby wwMe and file thane Articles, declares and certifies 9W the facts h717 arc truo fhb . day of June,1994, n The undersigned hereby accepts tits foregoing ArWas of Incorporation. agent contelned in the 95 66 - Your Personal Bank October 5, 1994 Mr. Alberto Fernandez de Castro President United Foods Corporation 1717 N. Bayshore Drive, S-2157 Miami, Florida 33132 Dear Mr. Fernandez de Castro: We are indeed sorry that at the present time we can not comply with the $500,000.00,,loan request under the term and conditions you requested. Thank you for giving us the opportunity to serve you. If we can be of further service to ou, please do not hesitate to contact the undersigned. Yours truly, Roland A. Torricel Senior Vice Presid RAT/iba 2720 Coral Way P.O. Box 450678 Miami, Florida 33145.0678 (9r15144A-r4;r)r) Tolar /5?15H 95— 66 nRsi `, Lre UNITED r000t September 29,1993 Total Bank Loan Department 2720 Coral Way Miami, FI.33145 UNITED FOODS CORPORATION 1717 N. Bakshore Dr4 Suite 2157 Miami; Fla. 33132, Tel.:, (30$) 381-7717 Att: Mr. Rolando Torricella, V.P. Dear Mr. Torricella: s..�Y In reference to our last conversation, we would like to formally apply for the necessary financing to instal a poultry further processing plant in City of Miami. As you know, the project consists in the production of kosher and non -kosher poultry further processed products for the national market. The company has been approached by a large distributor of kosher products in the United States willing to sign a private label agreement with our company. This contract will represent over 50% of plant capacity. In respect to the non -kosher local market, the company has designated a local sales force to distribute into the institutional market. Due to the company's technological edge, its products can compete comfortably with the present market prices. ' The total investment for the project is forecasted at US$650,000. For this venture, we will require the amount of US$500,000 to invest in inf., astructure, equipment, and working capital. Furthermore, we would like to request the amortization schedule as follows: Infrastructure- 12 years Equipment- 7 years Working Capital- 5 years. As a collatera! ' our loan, we would like to offer all the equipment, and a second mortgage on the property that -ill be acquiring. Since we are a i . w company that will be operating in the United States, we are enclosing a brief profile of our fun, - processing operation in the Dominican Republic. In addition, we are also enclosing a five yeas , ajected cash flow for United Foods Corporation. Hoping to do business together in the near future, Since(el)/,(,/ ff ; Albe(rto_�-d�astro _-President 95- 66 le /.,' ill nqn NYSE, 2C AMEXAC NASDAQ., 6C Kosher chid �n .slant is, heading V rt® I By CHARLES RABIN ' Herald Writer r ; When -is a ham not 'a ham? . When it's a chicken. United Food Corp."wi11..effect that transformation when it applies. technol- ogy and kosher rules to make a ham, sau- sage or even. hot -dog out �f kosher chicken. The Dominican Republic company, which has been involved in *poultry pro- cessing for 25 years, recently completed financing for equipment and is waiting to Finish the' purchase of property at 1701 NW Seventh Ave. in Overtown. Currently a vacant building; the site will employ 34 when it'.opens in March or April. Company President Alberto Fernandez de Castro said there could be as many as 1.00 employees by the end of 1995. There are three reasons for the move to Miami, according to Fernandez de PLEASESEE CHICKEN, 3C Chicken plant is moving CHICKEN, FROM 1C tvr':p�yl�c) Castro i ' _. is and the loan he got from the city, and Miami's location. Eventually, he wants the firm to distribute its processed poultry to 'Mexico and throughout the Americas. "Where better than Miami to do this type of thing?" he said. .Known as Productos Agrope- .cuarios'.in Santa Domingo, Fer- nandez de Castro's company pro- cesses more than 14,000 chickens per week and has 200 employees. The Overtown plant expects rev- enues of about $100,000 a month for the first year. The building is an old Pantry Pride processing plant that has been vacant since 1991. It's owned by 1717 Associates in New York. Fernandez de Castro said he hopes to buy the7�'xt quare- foot site byy the eweek for about $250,0 He's already borrowed $300,000 for kitchen equipment from Miami Capital Develop- ment, a city of Miami lending agency that caters to incoming or start-up businesses. Israel Frumer, a New York dis- tributor and importer of kosher foods, will work in partnership with Fernandez de Castro, selling products within the United States through his New Jersey. based company, Intermili Inc., said Manny Gonzalez, a market- ing consultant for the Miami International Trade Board. Frumer will oversee the sale of UFC's kosher products to a mar- ket estimated at 6.5 million, who perceive kosher products as being of high quality. The kosher food industry is growing annually at 15 percent, with sales near $33 billion. according to Gourmet News, an industry trade maga- zine. "We're very anxious to begin S_ SECTION WEDNESDAY, DECEMBER 28,1994 A; - operations," Fernandez de Cas- tro said. The Overtown ,property is part of the Florida Enterprise Zone, a designation created to induce businesses to move into depressed neighborhoods. The zone is a group of targeted areas that provide property buyers with tax breaks and long-term loans. And provide the neighborhood with jobs. "It's rood for Overtown because its bringing business into the area," said Victor De Yurre. Miami city commissioner and chairman of the Interna- tional Trade Board. "It's an area that needs economic stimulation. "People are going to look at businesses such as this and real- ize Miami is becoming the center of the Americas. It's just one example of what (the 1TB] can do." LA To: MANNY OONZALEZ Date:12/20M4 Time:16:59:21 "S Page 1 of 1 UNITED FOOD CORPORATION 1717 N. Bayshore Dr., Suite 2157 Miami, Fla. 33132, Tel.:(305) 381-7717 December 19, 1994 Manny Gonzalez Marketing Director International Trade Board Miami, FI FAX: (305) 350-7892 Dear Manny: We have just received appraisals on the refurbishing of the plant located at 1701 N.W. 7th Ave. exceeding the budgeted estimates presented to Miami Capital Development by us. As you may recall, our feasability study projected the sum of US$90,000.00 for the reconstruction of the plant site. However, due to the condition in which the roof, insulation, lighting, plumbing, and wiring were found, the new estimates ascend to US$150,000.00. It is our intention to cover this difference of approximately US$60,000.00 at our expense and continue to pursue the financing of this project through Miami Capital Fund as was originally presented. Keeping you informed as agreed, Slncx-�F I K' .4 'Alberto Fe President e Castro 95- 66 /d� r +. ,•�•a• rP• •' G;: !'�f t►►Mi .`i�►-�� 77 9f • �li f 'A•: rpTT►j,' r� r j �I t r aj■ r Iry •+•.. .��•'�9` y l�r,. �'.t4�. •�1.. �► � '. if •��,.�rb����j�+:',. •L; w`w•h�,ri `. > ' Via. I .w `�� ►v. 1 . /). ' •': Ik .'✓ >>j�� " � • + M;� � ^ •'.tom., • • L im dt r' '}` '.�✓ � y. • ./�•r ., ar �j � a.,,�•.�1_ • �a .. f •. V �r t. _ �� ,.:. ;` irk et• '•.y_• W4d�C.•. •�r^^YY .- Yr �..�'••,,, i S J•, vi ' •'lY1 Y. yt.i-' i�i•.'► � it .•? .. lwr-�" R,}y� r , 1IV I LKIVH I lUNHL I KHUt GUHKU Dec JU $ yN lU - JL NO .UUL r . Ul 1 To: Pei Fr-B 12 ' (XJ 08:11 UNITED FOODS CORPORATION 1717 N. Baysbars Dr., 504 2137 uNiho roopa Miami, Fla. 33132, TO.- (30S) 381-7717 Ucamber 29, 1994 City of Miami International Trade Board 300 Biscayne Blvd. Way. Suite 1100 Miami, Flat. Att: Mr,Manuel Gonzalez Senior Staff Marketing Consultant, Ref: $s00,000 loin request Dear Mr.Gonzaiez: First of all, I would like to thank the members of the ITB, as well as the staff of MCDI and their loan commi- ttee. Unfortunately, as a follow up to our letter of December 19, due to what appears to be MCDI restriction guideli- nes, the loan was approved for only $300,000.00 instead of the required $500,000.00. Since we are already anticipating an initial expense of approximately $150,000.00 in repairs and improvements to the site. we would like the ITE to request the City at least another $200,000.00 towards the purchase of the building, for which we are willing to give MCDI a first mortgage an the building. The above request is nothing new, and it is my understan- ding that it was the way it was going to be done, Your fur �er cooperation regarding this important iSsuG is herAy,irequested. 5i n c e Alb e Castro. c.c: Frank Castafeda, Director (City of Miami) Tony Crapp, Executive Director (MCDI) 95- 66 //7,