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i •• 2 BOND PURCHASE AGREEMENT THIS BOND PURCHASE AGREEMENT (the "Bond Purchase Agree- ment") is made and entered into as of the date set forth on the cover hereof among the Bondholder, the County, the Proprietor and the Company. RECITALS The County intends to issue and sell to the Bondholder its Industrial Development Revenue Bonds, Series 1982 (Rampmaster Project), in the form of a single, fully registered bond in the denomination of $850,000 (the "Bond"). The proceeds of the Bond are to be used, pursuant to a Loan Agreement between the County and the Proprietor (the "Loan Agreement"), to finance the cost (as defined in the Loan Agreement) of the acquisition, construc- tion and installation (the "Acquisition") of certain buildings, equipment and fixtures on a site located in Indian River County, Florida (the "Project Site"), such buildings, equipment and fix- tures being herein called, collectively, the "Project," to be owned by the Proprietor as an industrial plant consisting of an approximately 24,000 square foot light metal material handling plant, with necessary office space, for leasing to the Company. The Proprietor's obligations under the agreement will be secured by an Assignment of Lease and Rents of even date herewith from the Proprietor to the County (the "Lease Assignment"), by which the Proprietor will assign to the County its right to Rents (as defined in the Lease Assignment) with respect to a certain lease agreement of even date herewith (the "Lease"), between the Proprietor and the Company, upon the terms and conditions therein stated. The County intends to secure the Bond by an Assignment of Rights of even date herewith (the "Assignment of Rights"), from the County to the Bondholder pursuant to which the County will assign to the Bondholder certain of its rights under the Loan Agreement, the Lease, and the Mortgage and Security Agreement, all of even date herewith, with respect to the real property and fixtures comprising the Project and the Project Site (the "Mortgaged Property") and with respect to the tangible per- sonal property and fixtures comprising a portion of the Project (the "Chattels"). The "Mortgaged Property and the Chattels are herein collectively referred to as the "Mortgaged and Secured Property." As further security for the Bond, the Company and Robert H. Davis and William A. Davis will guarantee the payment of the -1-