SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of Report (date of earliest event reported): April 7, 1998
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AMETECH, INC.
________________________________________________________________
(Exact name of registrant as specified in Charter)
Oklahoma 0-19009 73-0766924
_________________ ___________ ___________________
(State or Other (Commission (I.R.S. Employer
Jurisdiction of File No.) Identification No.)
Incorporation)
1813 Southeast 25th Street, Oklahoma City, Oklahoma 73129
________________________________________________________________
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (405) 677-8781
______________
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Item 5. Other Events.
________________________________
As was previously reported, the Registrant and its wholly
owned, primary operating subsidiary, Environmental Transportation
Services, Inc. ("ETS"), each filed a Petition for Voluntary
Bankruptcy under Chapter 11, Title 11 of the United States Code.
The case number assigned to the Registrant's petition is 98-11021
BH and the case number assigned to ETS' petition is 98-11018 BH.
Pursuant to an order granting joint case administration, both the
Registrant petition and the ETS petition are being administered
under the ETS case number.
The existing officers and directors of the Registrant
currently remain in place as debtors in possession, subject to the
supervision and orders of the Bankruptcy Court for the Western
District of Oklahoma ("Bankruptcy Court"), which assumed
jurisdiction over substantially all of the assets and business of
the Registrant on February 2, 1998.
On April 7, 1998, the Bankruptcy Court approved the sale,
pursuant to a certain Purchase and Sale Agreement ("Purchase
Agreement") between ETS and Metropolitan Environmental Inc., an
Indiana corporation ("Metropolitan"), of a substantial portion of
the assets of ETS to Metropolitan for approximately $2,800,000,
subject to adjustment ("Sale Price"), consisting of: (i)
approximately $2,100,000 for the Rolling Stock, Rolloff Containers,
and Container Rental Business (as such terms are defined in the
Purchase Agreement), (ii) approximately $200,000 for the Fixed
Assets, Spare Parts and Inventory (as such terms are defined in the
Purchase Agreement), and (iii) approximately $500,000 for the Real
Property (as defined in the Purchase Agreement). Under the terms
of the Purchase Agreement, Metropolitan may choose to exclude some
or all of the Real Property and the Fixed Assets, Spare Parts and
Inventory from the transaction, which exclusion would result in a
commensurate reduction in the Sale Price. The Sale Price is also
subject to adjustment under certain other conditions, such as a
determination of environmental damage to the Real Property.
Metropolitan has informed ETS and the Registrant that it is
excluding all of the Fixed Assets, Spare Parts and Inventory from
the Purchase Agreement transaction. Metropolitan has not informed
ETS or the Registrant as to whether it is excluding some or all of
the Real Property from the Purchase Agreement transaction.
The Registrant has not filed its Quarterly Reports on Form 10-
Q for the quarterly period ended June 30, 1997, or for the
quarterly period ended September 30, 1997. The Registrant has also
not filed its Annual Report on Form 10-K for the year ended
December 31, 1997. During February, the Registrant requested a
no-action letter from the Securities and Exchange Commission (the
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"Commission") regarding its desire to be substantially exempt from
the reporting requirements under the Securities Exchange Act of
1934 due to, among other things, the financial condition of the
Registrant. No assurance can be made, however, that a no-action
letter will be obtained from the Commission.
In an effort to provide information regarding the status of
the Registrant to its shareholders, attached hereto is a copy of
the Monthly Report for the month ended February 28, 1998, as filed
with the Bankruptcy Court on March 27, 1998.
The Registrant does not anticipate that significant operations
of the Registrant or ETS will resume, on a limited basis, or at
all, however, no assurance can be given to such effect.
Item 7. Financial Statements and Exhibits.
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(c) Exhibits.
2.1 Purchase and Sale Agreement, dated as of
February 26, 1998, by and between Environmental
Transportation Services, Inc., and Metropolitan
Environmental, Inc. The exhibits and schedules to
this exhibit have been omitted from this filing but
will be supplementally filed upon request of the
Commission.
2.2 Order Authorizing Debtor-In-Possession to Sell
Assets Free and Clear of All Liens and Encumbrances
Pursuant to 11 U.S.C. Section 363, as filed April 7, 1998.
The exhibits to this exhibit have been omitted from
this filing but will be supplementally filed upon
the request of the Commission.
99.1 Monthly Report for the month ended February 28,
1998, as filed March 27, 1998 with the United
States Bankruptcy Court for the Western District of
Oklahoma, In Re: AMETECH, Inc. and Environmental
Transportation Services, Inc.
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of
1934, the registrant has duly caused this report to be signed on
its behalf by the undersigned hereunto duly authorized.
AMETECH, INC.
________________________________
(Registrant)
April 21, 1998 By /s/ Michael R. D'Appolonia
______________________________
Michael R. D'Appolonia,
President
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PURCHASE AND SALE AGREEMENT
THIS AGREEMENT is made this 2nd day of March, 1998, by and
between ENVIRONMENTAL TRANSPORTATION SERVICES, INC., an Oklahoma
corporation ("Seller"), and METROPOLITAN ENVIRONMENTAL, INC., an
Indiana corporation ("Purchaser"), under the following
circumstances:
A. Seller and Purchaser executed a letter of intent dated
January 19, 1998 (the "Letter of Intent") outlining their agreement
in principle for the acquisition by Purchaser of certain assets
from Seller.
B. Seller and Purchaser desire to enter into this agreement
as the final agreement contemplated by the Letter of Intent.
C. Seller desires to sell and Purchaser desires to purchase
(i) certain personal property assets of Seller described in Part 1
of this Agreement and (ii) certain real property owned by Seller
and located in Chattanooga, Tennessee and Oklahoma City, Oklahoma
described in Part 2 of this Agreement, upon the following terms and
conditions.
D. Seller has advised Purchaser that Seller and its parent
company, AMETECH, Inc., an Oklahoma corporation ("AMETECH"), have
filed for protection under Chapter 11 ("Bankruptcy Proceedings") of
the United States Bankruptcy Code on February 2, 1998, in the
United States Bankruptcy Court, Western District of Oklahoma
("Bankruptcy Court"), and, as a result, the Seller and AMETECH are
presently operating as "Debtors-In-Possession" and that this
Agreement is subject to approval by the Bankruptcy Court.
NOW, THEREFORE, in consideration of the foregoing and the
mutual promises contained herein, the parties agree as follows:
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PART 1: ASSET PURCHASE
1. Purchase and Sale of Assets, Subject to approval by the
Bankruptcy Court of this Agreement and the transactions
contemplated herein, at the Closing (as defined) Seller agrees to
sell, assign, transfer, convey and delivery to Purchaser, and
Purchaser agrees to purchase from Seller, the following personal
property assets of Seller (collectively, the "Assets"):
1.1 Rolling Stock. Eight van trailers, thirteen rolloff
trailers, nine vacuum trailers, two oil vacuum trailers and
fourteen tractors (the "Rolling Stock") owned by Seller. A true
and complete list of all of the Rolling Stock, including equipment
type, unit number, serial number, current location, and allocated
purchase price of each item of Rolling Stock to be acquired by
Purchaser is attached hereto as Schedule I and made a part of this
Agreement.
1.2 Rolloff Containers and Container Rental Business.
Four hundred ten (410) rolloff containers (the "Rolloff
Containers") and the Container Rental Business, including, but not
limited to, customer records, contracts and related files relating
to the Container Rental Business as described in Schedule I hereto
(the "Container Rental Business") owned by Seller. A true and
complete list of all of the Rolloff Containers with the unit number
and current location of each is included in Schedule I. The
parties acknowledge and agree that Seller leases the one hundred
seventy-six (176) Rolloff Containers listed in Exhibit A of
Schedule I to certain customers of Seller under rental agreements
as set forth in Exhibit A of Schedule I (such rental agreements may
hereinafter be referred to as the "Rolloff Container Leases"). In
addition to Seller's transfer of title to said Rolloff Containers
at the closing, Seller agrees to assign to Purchaser the Rolloff
Container Leases that are assignable. Notwithstanding anything
herein to the contrary, the Seller is not selling to Purchaser, and
the Purchaser is not acquiring from the Seller, any of the Seller's
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cash, accounts, accounts receivable, deposits, deposit accounts,
securities, chattel paper, instruments, certificates of deposit,
letters of credit or any other assets of the Seller not
specifically listed in this Section 1 or in Section 6 of Part 2
hereof.
1.3 Fixed Assets. The Seller's fixed assets located at
the two parcels of Real Property as defined in Part 2 of this
Agreement as set forth in Exhibits C, D, E and F of Schedule II
attached hereto ("Fixed Assets").
1.4 Spare Parts and Inventory. The Seller's spare parts
and inventory located at the two parcels of Real Property that are
set forth in Exhibit G of Schedule II attached hereto ("Spare
Parts").
2. Condition of Assets and Rights of Inspection.
2.1 "As-Is, Where-Is". All of the Assets shall be
purchased by Purchaser from Seller in an "As-Is, Where-Is"
condition. Except as expressly set forth in Section 5 hereof, the
Seller makes no representation or warranties as to the Assets.
2.2 Right of Inspection. The Purchaser shall have the
right to inspect the Assets, subject to the terms of Section 12
hereof, during the period beginning on the date of this Agreement
and ending fifteen (15) days from the date of this Agreement
("Inspection Period"), as follows:
2.2.1 Rolling Stock. The Purchaser shall have
the right to inspect the Rolling Stock ("First Inspection"),
subject to the terms of Section 12 hereof, during the Inspection
Period, with the First Inspection being conducted jointly with
Seller. Purchaser and Seller shall jointly create a report or
record which documents any damage to any of the Rolling Stock. The
Purchaser shall have a period of ten (10) days from the date of
Closing and ending ten (10) days from the date of Closing
("Rolling Stock Inspection Period") to determine, in good faith,
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if, subsequent to the First Inspection and prior to the Closing,
Material Damage has occurred to the Rolling Stock (with "Material
Damage" in this section 2.2.1 meaning damage to the Rolling Stock
resulting in costs to repair such damage to the Rolling Stock being
Five Thousand and No/100 Dollars ($5,000.00) or more, in the
aggregate, as determined by an independent third party appointed by
Purchaser and paid for by the Purchaser, with such independent
third party being reasonably satisfactory to Seller. If there has
been Material Damage to the Rolling Stock subsequent to the date of
the First Inspection and prior to the Closing, the Purchaser shall
give written notice to the Seller of such during the Rolling Stock
Inspection Period, which notice shall include the specific Rolling
Stock comprising part of the Assets for which Material Damage is
claimed and a written notice from the independent third party of
the amount of Material Damage for each Asset so identified and such
damage occurred prior to the Closing. If Purchaser gives written
notice to Seller of Material Damage to the Rolling Stock in the
manner described in this Section 2.2.1, with such written notice
containing the determination of the independent third party, then
the amount of such Material Damage, if any, including the initial
Five Thousand and No/100 Dollars ($5,000.00), shall be deducted
from the Rolling Stock Escrow Account in the manner set forth in
Section 4.1 and be paid to Purchaser and Seller shall have no
further liability or responsibility to Purchaser for any such
Material Damage.
2.2.2 Schedule I Assets. If during the
Inspection Period the Purchaser determines that it does not wish to
purchase one or more of the items comprising the Rolling Stock and
Rolloff Boxes set forth in the attached Schedule I ("Schedule I
Assets"), the Purchaser may exclude certain items of the Rolling
Stock and/or Rolloff Boxes from the Agreement by giving written
notice to the Seller during the Inspection Period of its election,
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which notice shall identify each particular item of Rolling Stock
and Rolloff Boxes which is not desired by Purchaser, specifying
each specific item by reference to how such item is identified in
Schedule I hereof. If the Purchaser elects to exclude any
particular Rolling Stock or Rolloff Boxes from this Agreement
during the Inspection Period as provided in this Section 2.2.2, the
Asset Purchase Price, and specifically, the Schedule I Asset Price
component of the Asset Purchase Price, shall be reduced by the
amount opposite that particular Asset so excluded set forth in
Schedule I hereof and such particular Asset shall not be considered
as Assets or transferred to Purchaser under this Agreement.
Notwithstanding the above, if the Purchaser gives notice to the
Seller during the Inspection Period that it elects to exclude from
this Agreement a Schedule I Asset or Assets with a price or prices
equal to or exceeding an aggregate of Two Hundred Thousand and
No/100 Dollars ($200,000.00) or more, then the Seller may, at its
option, terminate this Agreement without any liability or
obligation to the Purchaser. If Purchaser does not provide written
notice to the Seller regarding exclusion of certain of the Schedule
I Assets as described in this Section 2.2.2 within the Inspection
Period, the Purchaser will be deemed to have agreed to purchase all
of the Schedule I Assets, with no exceptions.
2.2.3 Schedule II Assets. If during the
Inspection Period the Purchaser determines that it does not wish to
purchase one or more of the items comprising the Assets comprising
the Fixed Assets and Spare Parts and Inventory set forth in the
attached Schedule II ("Schedule II Assets") prior to the conclusion
of the Inspection Period the Purchaser shall give written notice to
the Seller of such, which notice shall identify the items which are
not desired, specifying each specific item by reference to how such
items are identified in Schedule II hereof. If the Purchaser
elects to exclude any or all such Schedule II Asset or Assets from
this Agreement during the Inspection Period as provided in this
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Section 2.2.3, the Asset Purchase Price, and specifically the
Schedule II Asset Price component of the Asset Purchase Price,
shall be reduced by the amount opposite that particular Schedule II
Asset so excluded set forth in Schedule II hereof and that
particular Schedule II Asset so excluded shall not be considered as
Assets or transferred to Purchaser under this Agreement. If
Purchaser does not provide written notice to the Seller regarding
exclusion of certain of the Schedule II Assets during the
Inspection Period as described in this Section 2.2.3, the Purchaser
will be deemed to have agreed to purchase all of the Schedule II
Assets, with no exceptions.
3. Assumption of Liability. The Purchaser agrees to assume
all of Seller's obligations under the Rolloff Container Leases that
are assigned to Purchaser hereunder and which obligations occur
from and after the Closing. Except as otherwise expressly provided
in this Agreement, Purchaser is not assuming any obligation to pay
any of the debts, liabilities, or obligations of Seller, whether
now or hereafter existing, accrued or contingent or whether arising
out of or relating to the consummation of the transactions
contemplated herein.
4. Asset Purchase Price. The aggregate purchase price (the
"Asset Purchase Price") to be paid by Purchaser for the Assets
shall be (i) Two Million Seventy-eight Thousand Five Hundred and
No/100 Dollars ($2,078,500.00) for the Rolling Stock, Rolloff
Containers, and Container Rental Business, allocated as set forth
on Schedule I (collectively, the "Schedule I Assets"), subject to
reduction pursuant to Section 2.2.2 hereof, and (ii) Two Hundred
Thirty-Three Thousand One Hundred Fourteen and No/100 Dollars
($233,114.00) for the Fixed Assets, Spare Parts and Inventory as
set forth in Schedule II (collectively, the "Schedule II Assets"),
subject to reduction pursuant to Section 2.2.3 hereof. The Asset
Purchase Price shall be payable in full by Purchaser to the Seller
at the Closing, as defined in Section 14 of this Agreement, by
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certified check, cashier's check or wire transfer of federal funds
to an account designated by Seller, except that Fifty-Thousand and
No/100 Dollars ($50,000.00) of the Asset Purchase Price shall be
payable to the Escrow Agent pursuant to Section 4.1 hereof.
4.1 Rolling Stock Escrow. At Closing the parties shall
execute an escrow agreement with an escrow agent selected by the
Seller and reasonably satisfactory to the Purchaser ("Escrow
Agent") to establish the Rolling Stock Escrow Account, as defined
in this Section. Fifty-Thousand and No/100 Dollars ($50,000.00) of
the Asset Purchase Price shall be payable in full by Purchaser at
the Closing, by certified check, cashier's check or wire transfer
of federal funds, to an Escrow Account ("Rolling Stock Escrow
Account") of the Escrow Agent selected by Seller and reasonably
satisfactory to Purchaser. At the conclusion of the Rolling Stock
Inspection Period (i) the Escrow Agent shall, upon receiving
written notice from both Seller and Purchaser during the Rolling
Stock Inspection Period as to the aggregate amount of Material
Damage, if any, calculated pursuant to Section 2.2.1 hereof, deduct
such amount from the Rolling Stock Escrow Account and deliver the
balance amount, if any, of the Material Damage to the Seller, and
(ii) the Escrow Agent shall deliver the Rolling Stock Escrow
Account to the Purchaser. Notwithstanding the above, if Escrow
Agent has not received written notice from the Seller and Purchaser
of the amount of Material Damage, if any, to the Rolling Stock
prior to the expiration of the Rolling Stock Inspection Period,
then the Escrow Agent shall deliver to the Seller the full amount
of the Rolling Stock Escrow Account promptly upon expiration of the
Rolling Stock Inspection Period.
5. Seller's Representations and Warranties. Seller
represents and warrants to the Purchaser that, unless expressly
provided, the following are true and correct as of the date of this
Agreement and will be true and correct on the Closing:
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5.1 Title. Seller is the sole owner of the Assets and
Seller agrees to take all reasonably necessary action required to
obtain approval of the Bankruptcy Court for the purchase and sale
of Assets pursuant to this Agreement so that the sale and delivery
of the Assets will vest in Purchaser legal and valid title to the
Assets. Although the Assets are currently subject to certain liens
and encumbrances and subject to Bankruptcy Court approval, at the
Closing Seller will transfer to Purchaser all of the Assets, free
and clear of all security interests and liens, and Seller will have
full and unrestricted right and authority to sell the Assets.
Subject to Bankruptcy Court approval, at the Closing, Seller will
execute and deliver to Purchaser such instruments of sale,
assignment, transfer, and conveyance that shall be reasonably
necessary or appropriate to effect such transfer and conveyance.
5.2 Condition of Assets. The Assets are being sold by
Seller to Purchaser, and Purchaser is acquiring the Assets, in an
"As-Is, Where-Is" condition.
5.3 Legal Capacity and Authority. Seller is a
corporation duly organized, validly existing and in good standing
under the laws of the State of Oklahoma, and is currently operating
as a "Debtor-In-Possession" under Chapter 11 of the Bankruptcy
Proceedings. The person who executes this Agreement on behalf of
Seller has full authority to act on behalf of, and to bind, Seller
with respect to this Agreement, subject to approval by the
Bankruptcy Court of this Agreement and the transactions
contemplated herein.
5.4 Authorization. The transactions provided for
hereunder have been duly authorized by the Board of Directors of
Seller. Seller will seek Bankruptcy Court Approval of this
Agreement and the transactions provided for hereunder so that such
transactions will not require the consent or approval of any other
entity or person. Subject to the approval by the Bankruptcy Court,
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this Agreement and the documents to be delivered pursuant to this
Agreement, when executed and delivered by Seller, will be valid and
binding on Seller, and enforceable in accordance with their terms.
5.5 Allocation of Purchase Price. Seller shall file all
tax returns in a manner consistent with the allocations set forth
on Schedules I, II and III attached hereof.
5.6 Survival of Representations and Warranties. The
representations and warranties made by Seller in this Agreement
shall terminate on the Closing, except that the representations and
warranties made in Section 5.1 hereof regarding the title of only
the Rolloff Containers, Spare Parts and Fixed Assets that are
purchased hereunder shall survive the Closing for a period of six
(6) months following the Closing.
PART 2: REAL ESTATE PURCHASE
6. Purchase and Sale of Real Property. Subject to approval
by the Bankruptcy Court of this Agreement and the transactions
contemplated herein, Seller agrees to sell, and Purchaser agrees to
purchase, on an "As-Is, Where-Is" condition and on the terms and
conditions set forth in this Agreement, certain real property
located at 1813 Southeast 25th Street, Oklahoma City, Oklahoma
73129, and 2802 South Market Street, Chattanooga, Tennessee 37140
(collectively, the "Real Property"), the legal descriptions of
which are set forth on attached Schedule III, together with all
appurtenant rights, privileges and easements, which property is
more fully described as follows:
(i) except as herein otherwise expressly provided, as of
the date of this Agreement, all and singular of Seller's present
and future interests in, to and under all public and quasi public
and private utility service contracts and deposits necessary for,
or existing in connection with, the providing of all utility
services to the Premises; and
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(ii) except as herein otherwise expressly provided,
as of the date of this Agreement, all and singular of the
easements, rights-of-way, estates, tenements, hereditaments,
reversions, and remainders, presently or in the future,
appurtenant, belonging, attaching, or relating to the Premises or
any component thereof.
7. Real Property Purchase Price. As consideration for the
sale and conveyance of the Real Property, Seller shall be paid Two
Hundred Fifty Thousand and No/100 Dollars ($250,000.00) for each of
the two parcels of Real Property for an aggregate price of Five
Hundred Thousand Dollars ($500,000.00) in current U.S. funds (the
"Real Property Purchase Price") as described in this Section 7
hereof.
7.1 Real Property Escrow. At Closing the parties hereto
shall execute an escrow agreement to establish an escrow account
("Real Property Escrow Account") as described hereafter. At the
Closing the Real Property Purchase Price shall be paid in full,
subject to any and all prorations as provided in Section 15 hereof,
by Purchaser at the Closing, by certified check, cashier's check or
wire transfer of federal funds to the Real Property Escrow Account
of the Escrow Agent selected by Seller and approved by the
Purchaser.
7.1.1 Deed Escrow. At Closing, Seller shall
execute the two (2) special or limited warranty deeds, whichever is
applicable under appropriate state law, covering the Real Property
and deliver such into escrow with the Escrow Agent for delivery as
described herein, which special or limited warranty deed shall
warrant title in and to the Purchaser from the time Seller acquired
the Real Property.
8. Real Property Inspection Rights.
8.1 Condition of Real Property. The Real Property is
being sold by Seller to Purchaser, and Purchaser is acquiring the
Real Property, in an "AS-IS, WHERE-IS" condition.
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8.2 Condition of Real Property and Rights of Inspection.
The Purchaser shall have the right to conduct a Phase I or Phase II
environmental audit of the Real Property during the period
beginning on the date of Closing and ending thirty (30) days from
the date of Closing ("Real Property Inspection Period").
8.3 Environmental Engineering Firm. Any Phase I or
Phase II environmental audit of the Real Property to be performed
pursuant to the terms of this Agreement shall be performed at the
cost of Purchaser by an independent nationally recognized
environmental engineering company selected by the Purchaser, but
which is satisfactory to the Seller ("Environmental Firm").
8.3.1 Remediation Cost of $15,000 or Less. If
(a) the Phase I or Phase II environmental audit on the Real
Property performed by an Environmental Firm shows contamination, in
which such Environmental Firm determines would require a total
expenditure of $15,000 or less to remediate ("Remediation Cost")
for all such contamination, if any, on both parcels of Real
Property, and (b) the Escrow Agent receives written notice from
both the Seller and the Purchaser during the Real Property
Inspection Period stating such Remediation Cost, the Real Property
Purchase Price shall be reduced by such Remediation Cost and the
Escrow Agent shall at the termination of the Real Property
Inspection Period (i) deliver the Remediation Cost, not to exceed
a total of $15,000, to the Purchaser from the funds in the Real
Property Escrow Account, (ii) deliver the balance of the funds
within the Real Property Escrow Account to the Seller, and (iii)
deliver the two (2) special or limited warranty deeds, as
applicable and as described in Section 7.1.1, covering the Real
Property to the Purchaser. If written notice stating the
Remediation Cost is not received by the Escrow Agent from both the
Seller and Purchaser during the Real Property Inspection Period,
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the Escrow Agent shall, unless the Escrow Agent has been notified
in writing by the Seller and the Purchaser that negotiation
pursuant to Section 8.3.2 is being conducted, immediately deliver
all of the funds within the Real Property Escrow Account to the
Seller and deliver to the Purchaser the two (2) special or limited
warranty deeds, as applicable and as described in Section 7.1.1,
covering the Real Property.
8.3.2 Remediation Cost of More than $15,000. If
the Phase I or Phase II environmental audit on the Real Property
performed by an Environmental Firm shows contamination on such Real
Property, which such Environmental Firm determines would require an
expenditure of more than $15,000, in the aggregate, to remediate,
and the Seller receives written notice during the Real Property
Inspection Period stating such cost of remediation, the parties
hereto shall have ten (10) days from the Purchaser's written
notification of such contamination to Seller or the end of the Real
Property Inspection Period, whichever comes first, to negotiate
in good faith, to resolve such issue or issues. If the parties
hereto are unable to resolve such issue or issues through
negotiation during such period, one of the following alternatives
set forth in Sections 8.3.2 (A), (B) or (C) shall occur upon
notification in writing being delivered to the Escrow Agent as
described in Sections 8.3.2 (A), (B) or (C) prior to the expiration
of the ten (10) day negotiation period. If prior to the expiration
of the ten (10) day negotiation period, notice is not given in
writing by the Seller and Purchaser to the Escrow Agent as to which
of the options under Section 8.3.2 (A), (B) or (C) is selected, the
Purchaser shall be deemed to have elected to purchase all of the
Real Property pursuant to Section 8.3.2(A)(3) and the Escrow Agent
shall perform its duties as set forth therein.
A. If the cost of remediation for the Real Property is in
the aggregate greater than $15,000 and the cost of remediation for
each of the two parcels of Real Property as defined in Part 2 of
this Agreement is greater than $15,000:
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1. The Seller may terminate the Agreement pertaining to
the Real Property. The Seller may terminate this Agreement
regarding both parcels of Real Property without any liability or
obligation to the other party. In such case, the Escrow Agent
shall, upon written notification of termination from both the
Purchaser and the Seller, (i) deliver the funds in the Real
Property Escrow Account to the Purchaser, and (ii) deliver to the
Seller the two (2) special or limited warranty deeds covering the
Real Property, as applicable and as described in Section 7.1.1.
2. The Purchaser may purchase none of the Real Property.
The Purchaser may terminate this Agreement regarding both parcels
of Real Property without any liability or obligation to the other
party. The Escrow Agent shall, upon written notification of
termination from both the Purchaser and the Seller (i) deliver the
funds in the Real Property Escrow Account to the Purchaser, and
(ii) deliver to the Seller the two (2) special or limited warranty
deeds covering the Real Property, as applicable and as described in
Section 7.1.1.
3. The Purchaser may purchase all of the Real Property.
In such case, the Purchaser agrees that the remediation cost for
the Real Property is $15,000, in the aggregate, and the parties
hereto agree that the Escrow Agent shall deliver the deeds to the
Real Property and the funds in the Real Property Escrow Account
pursuant to Section 8.3.1 hereof.
4. The Purchaser may purchase one of the parcels of Real
Property and terminate this Agreement regarding the other parcel.
In such case, the Purchaser shall notify the Seller that it desires
to purchase one of the parcels of Real Property and that the cost
of remediation for such parcel of Real Property to be purchased by
Purchaser shall be set at $15,000. In such case, the Seller and
Purchaser shall advise the Escrow Agent in writing on or prior to
expiration of the Real Property Inspection Period and the Escrow
Agent will (i) deliver to the Purchaser $250,000 from the Real
Property Escrow Account, (ii) deliver to the Seller the one special
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or limited warranty deed covering the terminated parcel of Real
Property, as applicable and as described in Section 7.1.1, and
(iii) proceed regarding the non-terminated parcel of Real Property
under Section 8.3.1 with the Remediation Cost to be set for such
purposes at $15,000.
B. If the cost of remediation for the Real Property is
greater than $15,000, in the aggregate, and the cost of remediation
for one of the two parcels of Real Property is less than $15,000
("Low Parcel") and the cost of remediation for the other of the two
parcels of Real Property is more than $15,000 ("High Parcel"):
1. The Purchaser may purchase the Low Parcel and
terminate this Agreement regarding the High Parcel. In such case,
the Purchaser shall notify the Seller that it desires to purchase
the Low Parcel and that the cost of remediation for the Low Parcel
shall be set at the cost of remediation for such parcel of Real
Property as determined by the Environmental Firm, but in no event
to exceed $15,000. In such case, the Seller and Purchaser shall
advise the Escrow Agent in writing on or prior to expiration of the
Real Property Inspection Period and the Escrow Agent will (i)
deliver to the Purchaser $250,000 from the Real Property Escrow
Account, (ii) deliver to the Seller the one special or limited
warranty deed covering the High Parcel, as applicable and as
described in Section 7.1.1, and (iii) proceed regarding the Low
Parcel under Section 8.3.1, with the Remediation Cost relating to
such Low Parcel for such purposes set at the cost of remediation
for such parcel of Real Property as determined by the Environmental
Firm, but in no event to exceed $15,000.
2. The Purchaser may purchase both parcels of Real
Property. In such case, the Purchaser shall notify the Seller that
it desires to purchase both parcels of Real Property and that it
agrees that the cost of remediation for the Real Property shall be
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$15,000, in the aggregate. In such case, the Seller and Purchaser
shall advise the Escrow Agent in writing on or prior to expiration
of the Real Property Inspection Period and the Escrow Agent will
proceed under Section 8.3.1 with the Remediation Cost to be set at
$15,000 for such purposes.
C. If the cost of remediation for the Real Property is
greater than $15,000, in the aggregate, and the cost of remediation
for each of the two parcels of Real Property is less than $15,000:
1. The Purchaser may terminate this Agreement regarding
one of the two (2) parcels of Real Property. In such case, the
Purchaser shall notify the Seller that it desires to purchase one
of the parcels of Real Property and that the cost of remediation
for such parcel of Real Property to be purchased by Purchaser shall
be set at the lesser of (a) $15,000 or (b) the cost of remediation
for such parcel of Real Property as determined by the Environmental
Firm. In such case, the Seller and Purchaser shall advise the
Escrow Agent in writing on or prior to expiration of the Real
Property Inspection Period and the Escrow Agent will (i) deliver to
the Purchaser $250,000 from the Real Property Escrow Account, (ii)
deliver to the Seller the one special or limited warranty deed,
covering the terminated parcel of Real Property, and (iii) proceed
regarding the non-terminated parcel of Real Property under Section
8.3.1 with the Remediation Cost to be set for such purposes at the
lesser of (a) $15,000 and (b) the cost of remediation for such
parcel of Real Property as determined by the Environmental Firm.
2. The Purchaser may purchase both parcels of Real
Property. In such case, the Purchaser shall notify the Seller that
it desires to purchase both parcels of Real Property and that it
agrees that the cost of remediation for the Real Property shall be
$15,000, in the aggregate. In such case, the Seller and Purchaser
shall advise the Escrow Agent in writing on or prior to expiration
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of the Real Property Inspection Period and the Escrow Agent will
proceed under Section 8.3.1 with the Remediation Cost to be set at
$15,000 for such purposes.
8.3.3 Escrow Agent Notice. Notwithstanding
anything to the contrary contained in this Agreement, all notices
to be given to the Escrow Agent by the Seller and Purchaser
pursuant to Section 8 shall be given as follows: Purchaser shall
deliver the applicable notice in writing to Seller and Seller and
Purchaser shall deliver their notice to the Escrow Agent.
9. Deed.
9.1 At Closing. Subject to Bankruptcy Court approval,
at the Closing, Seller shall deliver to the Escrow Agent the
special or limited warranty deeds covering the Real Property, as
applicable and as described in Section 7.1.1, hereof.
9.2 At Conclusion of Real Property Inspection. At the
conclusion of the Real Property Inspection Period and any
associated negotiation period thereafter, pursuant to Section 8.3.2
and, subject to Bankruptcy Court approval of this Agreement, the
special or limited warranty deeds covering the Real Property, as
applicable and as described in Section 7.1.1, and the funds in the
Real Property Escrow Account shall be delivered pursuant to the
terms of Section 8 hereof. If delivery of the deeds covering one
or both parcels of the Real Property deeds is made pursuant to the
terms of this Agreement, it shall be made to Purchaser or
Purchaser's nominee (as determinated pursuant to Purchaser's
written instructions) by recordable special warranty deeds or
limited warranty deeds, as applicable and as described in Section
7.1.1, and in customary form to be consistent with the statutory
requirements of the respective states where the Real Property is
located, which provide for return thereof to the grantee therein
after recording, free and clear of all liens and encumbrances,
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exceptions and defects except and subject to only the following
(collectively, the "Permitted Exceptions"):
(i) Zoning ordinances;
(ii) Real estate taxes which are a lien on the Real
Property but which are not yet due and payable;
(iii) Easements of record which do not materially
interfere with the current use of the Real Property;
(iv) Restrictions of record which do not materially
interfere with the current use of the Real Property;
(v) Standard preprinted Conditions and Stipulations and
Exclusions from Coverage contained in any title policy that the
Purchaser may obtain in connection with its purchase of the Real
Property that Purchaser has requested the title insurer to waive,
endorse, or insure over for a fee and the title insurer has agreed
to waive, endorse or insure over; and
(vi) Any other exceptions, which are shown on the
title insurance commitment described herein and are either waived
by Purchaser or for which a commitment for title insurance over the
same is procured from the Title Insurer (as hereinafter defined) or
to which Purchaser agrees to take the Real Property subject.
If the sale of the Real Property is consummated, Seller shall
also deliver to Purchaser a customary owner's affidavit as to
mechanic's and materialmen's liens and persons in possession of the
Real Property required by the Title Insurer as a condition to its
agreement to delete the standard printed general exceptions related
to such liens and possession from the Commitment.
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10. Seller's Representations and Warranties. Seller
represents and warrants to Purchaser that, unless expressly
provided, the following are true and correct as of the date of this
Agreement and will be true and correct on the Closing:
10.1 Condemnation. Seller is not aware of any eminent
domain or condemnation proceeding or other taking with respect to
any of the Real Property has been commenced, noticed or threatened
by any government, quasi-government, public utility or other entity
having such power.
10.2 Authorization. The transactions provided for
hereunder have been duly authorized by the Board of Directors of
Seller, subject to Bankruptcy Court approval. Seller will seek
Bankruptcy Court approval of this Agreement and the transactions
provided for hereunder so that such transactions will not require
the consent or approval of any other entity or person.
10.3 Legal Capacity and Authority. Seller is a
corporation duly organized, validly existing, and in good standing
under the laws of the state of Oklahoma, but is operating as a
"Debtor-In-Possession" under Chapter 11 of the Bankruptcy
Proceedings.
10.4 Continuance and Survival of Representations and
Warranties. Each of the representations and warranties made by
Seller in this Agreement shall terminate upon the Closing, except
that the representations and warranties made in Section 5.1 hereof
regarding the title of only the Rolloff Containers shall survive
the Closing for a period of six (6) months following the Closing.
PART 3: GENERAL PROVISIONS
11. Conditions Precedent. This Agreement, Purchaser's
performance hereunder and payment of the Asset Purchase Price and
the Real Property Purchase Price are expressly made subject to and
preconditioned upon the conditions set forth in this Section 11.
If either party hereto does not perform pursuant to and satisfy the
conditions set forth in this Section 11, then upon written notice
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to the defaulting party given on or before the Closing, the non-
defaulting party hereto may terminate this Agreement. If this
Agreement is terminated pursuant to any of said conditions, this
Agreement shall become null and void and neither party shall have
any further rights, duties or liabilities to the other under this
Agreement, except for Purchaser's liabilities and obligations under
Section 12 hereof which shall survive the termination of this
Agreement.
11.1 Lender Commitment Letter. Purchaser shall by
Wednesday, February 25, 1998, deliver to Seller a commitment letter
in a form acceptable to the Seller which is from a lender
acceptable to the Seller certifying that the Purchaser has at least
Two Million Eight Hundred Eleven Thousand Six Hundred Fourteen and
No/100 Dollars ($ 2,811,614.00) available for the Closing.
11.2 Approval of the Bankruptcy Court. Seller shall have
obtained an order from the Bankruptcy Court authorizing Seller to
enter into and consummate this Agreement and the transactions set
forth in this Agreement under Section 363 of the United States Bankruptcy
Code, which Order shall be reasonably satisfactory to Purchaser.
Seller agrees to use its reasonable efforts to obtain such
authorization from the Bankruptcy Court.
11.3 Title. Within ten (10) days of the date of this
Agreement, Purchaser shall procure, at Purchaser's expense,
evidence of Seller's title to, and ownership of, the Property in
the currently used form of the American Land Title Association
commitment (the "Commitment") for an owner's title insurance
policy, insured by a title insurance company approved by Purchaser
(the "Title Insurer") covering the title to the Real Property on or
after the date of the Closing, commitment to insure upon demand, by
issuance of the policy form used by the Title Insurer which is
consistent with the currently promulgated version of the American
Land Title Association owner's title insurance policy form with all
endorsements and coverages reasonably requested by Purchaser, fee
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simple title ownership of the Real Property as of the date of the
Closing in Purchaser in an amount not less than the Real Property
Purchase Price, subject at the Closing only to the Permitted
Exceptions and standard preprinted Conditions and Stipulations and
Exclusions from Coverage contained in said policy that Purchaser
has requested the title insurer to waive, endorse, or insure over
for a fee and the title insurer has agreed to waive, endorse or
insure over, if the terms of this Section 11 of this Agreement are
complied with. The Purchaser acknowledges that the Real Property
is subject to certain liens and encumbrances, but that at Closing
and subject to approval by the Bankruptcy Court of this Agreement
and compliance with this Section 11, the Real Property will be
transferred to the Purchaser subject only to the Permitted
Exceptions and the standard preprinted Conditions and Stipulations
and Exclusions from coverage contained in the policy. Said
commitment shall be evidence of title as therein shown as to all
matters insured by the owner's title insurance policy. All costs,
fees and premiums for the Commitment, the resultant basic title
insurance policy coverage, and the coverages and endorsements
requested by Purchaser, shall be the liability of Purchaser.
11.4 Survey. Within ten (10) days of the date of this
Agreement, Purchaser shall, at Purchaser's sole expense, procure a
plat of survey of each parcel of the Real Property (the "Surveys")
made and so certified by a licensed, registered or certified Land
Surveyor as having been made in compliance with the Minimum
Standard Detail Requirements for ALTA-ACSM Land Title Surveys
jointly established and adopted by the American Land Title
Association on October 17, 1992, and the American Congress on
Surveying and Mapping on November 11, 1992, including items 1, 2,
3, 4, 6, 11 and 13 of Table A of said Requirements. The Surveys
shall meet accuracy standards of, and be made in accordance with,
the "Classifications and Specifications for Cadastral Surveys" for
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an Urban survey adopted as of the date of this Agreement by the
American Land Title Association and the American Congress on
Surveying and Mapping. The Surveys shall accurately show the
current location and exterior dimensions of all of improvements on
the Real Property, the size of each parcel of the Real Property,
that there exist no material encroachments of any improvements onto
adjacent property or any material improvements to adjacent property
onto the Real Property, and that all of each parcel of the Real
Property is located within the geographical boundaries of the
governmental jurisdiction(s) described in Schedule III,
respectively. The aforesaid certification(s) shall be made to
Purchaser and the Title Insurer and/or any other person(s) whom
Purchaser reasonably requests. Should the Surveys disclose any
matters which would not be described by the Permitted Exceptions,
or otherwise not be in compliance with this paragraph, the parties
hereto shall meet and attempt, in good faith, to resolve such
matter or matters within the Inspection Period. If the parties are
unable to resolve such matter or matters within the Inspection
Period, then either party hereto, by written notice to the other
party, may terminate this Agreement without any liability to the
other party, except for such liabilities and obligations of the
Purchaser as provided in Section 11.5 hereof.
11.5 Documentation and Cooperation. All documents
required of either party pursuant hereto shall be fully and
properly prepared, executed, attested, and where necessary
acknowledged on or before the Closing, as required herein. All
original documents in final form shall be brought to the Closing.
Copies of all documents shall be provided in advance to each party
not later than five (5) days prior to the Closing. In addition to
all other documents herein required, Seller shall furnish at the
Closing the following documents:
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(i) closing/settlement/proration statement in usual and
customary form setting forth all prorations between the parties and
credits and adjustments to the Real Property Purchase Price;
(ii) all documents, if any, reasonably required by
law or the Title Insurer, for consummating the transaction
contemplated hereunder;
(iii) true and correct copies of all unrecorded
covenants, conditions or restrictions affecting the Real Property
or the use, occupancy or possession thereof, if any.
Both parties shall in all respects cooperate to the extent
reasonably necessary for the consummation of the transactions
contemplated hereunder.
11.6 Escrow Agreement. Seller and Purchaser shall have
entered into an Escrow Agreement with an Escrow Agent, as selected
by Seller, to create the Real Property Escrow Account and the
Rolling Stock Escrow Account as described within this Agreement.
11.7 Possession of Assets. Seller shall deliver to
Purchaser as of the Closing, physical possession, use and control
of the Assets.
11.8 Asset Purchase Price and Real Property Purchase
Price. Purchaser shall deliver to Seller the Asset Purchase Price
and the Real Property Purchase Price as provided by Sections 4, 7
and 9 hereof.
11.9 No Material Loss. If from the date hereof to the
Closing there is a material loss, damage, or destruction from
casualty to any of the items comprising the Assets and/or to the
Real Property ("Material Loss"), Purchaser may at its sole option
either: (1) exclude from this Agreement that particular item of the
Assets or parcel of Real Property which suffered a Material Loss;
or (2) pay the full amount of the Purchase Price for such item of
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the Assets and/or parcel of Real Property as set forth in this
Agreement, which shall not be reduced as a result of such Material
Loss, and accept in addition to the item of the Assets and/or
parcel of Real Property that sustains a Material Loss, all
insurance proceeds collected or collectable by Seller with respect
to that particular item of the Assets or parcel of Real Property
that sustains such Material Loss.
In the event Purchaser purchases Rolling Stock which has
suffered Material Loss, it shall not be entitled to be paid twice
for the same Material Loss and/or Material Damage as provided in
this section and in Section 4.1 of this Agreement; and in such
event Purchaser shall pay to Seller, the amount, if any, that it
receives in excess of the total amount of damage to any item of
Rolling Stock.
11.10 Zoning Ordinances. If any parcel of Real
Property is not zoned to permit trucking terminals, the Purchaser
may terminate this agreement regarding only the parcel of Real
Property which is not zoned to permit trucking terminals if the
Purchaser notifies the Seller in writing of the applicable zoning
restrictions prior to the Closing. Such termination by Purchaser
shall be without any liability or obligation to the other party
regarding such terminated parcel or parcels as the case may be.
12. Inspections. All inspections of the Assets or the Real
Property pursuant to this Agreement which are performed by or for
the Purchaser shall be non-destructive. Purchaser shall, at its
sole cost and expense, immediately at the request of Seller upon
any termination hereof, restore the Assets and/or the Real Property
to the condition thereof existing immediately prior to any such
activities.
During the Inspection Period and the Real Property Inspection
Period, Seller shall make available to Purchaser and Purchaser's
employees, agents, attorneys, accountants and independent
contractors, for purposes of inspection, audit, review,
investigation, examination, analysis, and copying, manually or by
machine, originals (or if not available, then copies) of all
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contracts, papers, documents, books, records, reports, studies,
drawings, test results, surveys, plats, certificates, permits,
licenses, and like material and information (collectively, the
"Documents") of Seller or in Seller's possession, custody or
control relating to the Assets and/or the Real Property. The
Documents shall be made available to Purchaser and Purchaser's
employees, agents and independent contractors as aforesaid, at
either the office of the Seller or within the Real Property,
during regular business hours during the applicable Inspection
Period. In the event that any of the Documents cannot be made
available within the aforesaid time period, then Purchaser and
Seller shall reschedule future times when the same shall be
available, however, there shall be no extension of either the Real
Property Inspection Period or the Inspection Period pursuant to
this provision.
Purchaser shall be completely responsible for all of
Purchaser's acts and omissions and those of Purchaser's employees
and agents in exercising such inspection rights and privileges as
are granted in this Agreement. Purchaser hereby indemnifies Seller
and shall hold Seller free and harmless from and against any and
all losses, costs, damages and expenses (including, without
limitation, reasonable legal fees, costs of litigation and the cost
of removing or bonding over any lien affecting the Real Property)
suffered or incurred by Seller by reason of the exercise of the
rights and privileges granted to Purchaser in this Section or the
breach of Purchaser's covenant to restore the Assets and/or the
Real Property.
Any "due diligence" test, study, examination, analysis,
survey, investigation, or audit of the Assets and/or the Real
Property made by Purchaser pursuant hereto shall not waive or in
any way limit Purchaser's rights elsewhere created by this
Agreement, including, specifically as may arise from any
representations or warranties of Seller, nor constitute a waiver,
release or satisfaction of any conditions to the consummation of
the transaction contemplated hereby except as may be contained in
this Section.
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13. Condemnation of Real Property. All risk of condemnation
or loss to the Real Property by governmental taking or exercise of
power of eminent domain prior to the Closing shall be on and belong
to Seller. If prior to the Closing all or a portion of the Real
Property is subjected to a bona fide threat or notification of
condemnation, taking or exercise of power of eminent domain by any
government, quasi-government, public utility or other entity having
such power or is taken by eminent domain or condemnation (or sale
in lieu thereof) then Purchaser may terminate this Agreement or
elect upon notice given to Seller on or before the Closing, to take
title to the Real Property without any deduction or set off against
the Real Property Purchase Price.
14. Closing.
14.1 The Closing shall take place at a mutually agreeable
time and place within ten (10) days after Seller obtains an order
from the Bankruptcy Court that a authorizes Seller to assume and
consummate this Agreement.
14.2 At the Closing Seller shall deliver to Purchaser the
following, each duly executed and in such number and forms as may
be reasonably required by Purchaser's counsel:
(i) Certificates of title to all of the Rolling
Stock;
(ii) Bill(s) of sale to the Rolloff Containers,
Fixed Assets, Spare Parts and Inventory, and Container Rental
Business;
(iii) Assignment(s) of the Rolloff Container Leases;
(iv) Recordable special warranty deeds as set
forth in Section 9 of this Agreement;
(v) A non-foreign person affidavit;
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(vi) A Bankruptcy Court order, which order shall
be satisfactory to Seller and Purchaser; and,
(vii) All other documents and instruments that
are required to be delivered by Seller to Purchaser under this
Agreement or are reasonably requested by Purchaser's counsel to
consummate this Agreement.
14.3 At the Closing, Purchaser shall pay to Seller or to
the Escrow Agent, as applicable, the Asset Purchase Price and the
Real Property Purchase Price as provided in Section 4, Section 7,
and Section 9 subject to prorations for the following items, which
shall be computed through the date of the Closing:
(i) Real property taxes and assessments in
accordance with Section 15.
14.4 Any amounts due under the Rolloff Container Leases
shall be invoiced separately by Seller for the period through the
date of Closing and by Purchaser for the period after the date of
Closing.
15. Real Estate Taxes. Seller shall pay all real estate ad
valorem taxes for the Real Property which accrue prior to the
Closing. All such taxes payable on or before the Closing shall be
paid by Seller at or before the Closing. All real estate taxes
which accrued for the period prior to the Closing, but are payable
as of the Closing shall be paid by Seller and prorated as of the
Closing based on the actual number of days in the calendar year in
which the Closing occurs. If the actual amount(s) of such taxes is
not ascertainable at the Closing (because the Real Property is
being taxed together with other property, or for any other reason),
such proration shall be on the basis of the most recently
ascertainable bill(s) therefor (whether whole or installment,
actual or estimated) and, if applicable, on the basis of the actual
size of the Real Property, and without deduction for any
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conditional factors such as vacancy, destruction or homestead and
a reproration shall be made upon the issuance of the actual bill(s)
therefor; provided, however, that all taxes allocable to the Real
Property attributable to improvements made to the Real Property by
Purchaser shall be borne entirely by Purchaser; and provided
further, however, under no circumstances shall a reproration of
real estate ad valorem taxes be made where such taxes have been
reduced through the efforts of Purchaser. Seller shall not make
nor suffer there to be made any material improvements to the Real
Property from and after the date of this Agreement until this
Agreement is terminated unless explicitly provided elsewhere herein
or approved by Purchaser. Seller shall assist Purchaser in causing
local tax and assessment rolls, listings, and records to be revised
accordingly to reflect Purchaser's ownership of the Real Property.
In the event that at the time of the Closing, the Real Property or
any portion thereof shall be or shall have been affected by any
assessment, levy, charge, or other imposition that is or may become
payable in installments, then for purposes of this Agreement, all
of the unpaid installments thereof shall be considered due and
payable and liens upon the Real Property affected thereby and shall
be paid and discharged by Seller at the Closing, or, credited by
Seller at the Closing against and reduce the Real Property Purchase
Price. Payment of any real estate ad valorem taxes by Seller, may
be made under protest. All ad valorem taxes relating to the Real
Property accruing after the Closing shall be paid by Purchaser.
16. Transfer and Like Taxes. Purchaser and Seller shall each
pay at the Closing fifty percent (50%) of all transfer, stamp and
documentary taxes or fees imposed by applicable governmental
jurisdiction(s) on the transaction contemplated hereunder with such
payment(s) made payable to the applicable governmental
jurisdiction(s). Payment of any such taxes or fees may be made
under protest on the grounds that the enabling law establishing
and/or imposing such taxes or fees is inapplicable,
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unconstitutional and/or void to the extent that the same purports
to impose taxes or fees upon the transaction contemplated
hereunder.
17. Brokers. Purchaser warrants to Seller, and Seller
warrants to Purchaser that it is represented by no real estate
agent, finder, sales person, or broker has been involved in the
sale and purchase of the Assets and/or the Real Property hereunder.
In the event of a breach of the foregoing warranty, the breaching
party shall save, defend, indemnify and hold forever harmless the
other party from and against all damages, including specifically
those based upon claims for commissions, fees or charges, including
legal fees and costs.
18. Survival. The representations and warranties of this
Agreement shall terminate as of the Closing, except that the
representations and warranties made in Section 5.1 hereof regarding
the title of only the Rolloff Containers, Spare Parts and Fixed
Assets shall survive the Closing for a period of six (6) months
following the Closing.
19. Notices. Whenever any party shall be required to give
notice or demand to another party according to the provisions of
this Agreement, such notice or demand shall be deemed sufficient
and effective if delivered by hand delivery or recognized overnight
courier service, or if deposited in the United States mail, postage
prepaid, certified, return-receipt requested, and by telefax, and
addressed:
19.1 In the case of Purchaser, to:
Metropolitan Environmental, Inc.
P. O. Box 378
Celina, Ohio 45822
Attention: Scott H. Swonger
Fax: 419-586-2438
with a copy to:
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Jacob A. Myers, Esq.
Myers & Frayne Co., L.P.A.
18 West First Street, Suite 200
Dayton, Ohio 45402
Fax: 937-224-5782
19.2 In the case of Seller, to:
Environmental Transportation Services, Inc.
1813 Southeast 25th
Oklahoma City, Oklahoma 73129
Attention: Michael D'Appolonia, President
Fax: 405-672-1781
with a copy to:
Irwin H. Steinhorn, Esq.
Conner & Winters
One Leadership Square, Suite 1700
211 North Robinson
Oklahoma City, Oklahoma 73102
Fax: 405-232-2695
Any party may change the address to which such notices are to be
addressed by giving the other party notice in the manner herein set
forth.
20. Amendment. This Agreement may be modified, amended or
supplemented only by a writing of equal dignity. The parties'
legal counsel may, on behalf of their respective clients, execute
any writings as aforesaid and such writings shall be deemed
authorized and of the same force and effect as if executed by the
respective parties and may be relied upon by the other party.
21. Assignment; Binding Upon Successors and Assigns. No
party shall delegate or assign this Agreement or any rights or
duties hereunder (including by the merger or consolidation of a
party with any third person) without the prior, written permission
of the other. Anything herein contained to the contrary
notwithstanding, Purchaser shall not be prevented or prohibited
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from making and may freely make an assignment of Purchaser's right
to receive fee title ownership of the Assets and/or the Real
Property in accordance herewith, to Purchaser's nominee. This
Agreement shall be binding upon and shall inure to the benefit of
Seller and Purchaser and the respective successors and permitted
assigns of each upon execution hereof by Seller and Purchaser. Two
(2) duly executed duplicate originals of this Agreement shall be
provided to each party. This Agreement creates no rights as a
third party beneficiary or otherwise in any person not a party.
22. Headings. The various headings used in this Agreement
are for convenience only and shall not be used in interpreting the
text before which the same appear.
23. Severability of Provisions. This Agreement shall not be
severable or divisible; provided, however, that a judicial or
administrative determination by any jurisdiction of the invalidity
or unenforceability of any one or more of the provisions hereof, or
any one or more of the provisions of any instrument or Schedule or
Exhibit related hereto or referred to herein shall not invalidate
the remaining provisions of this Agreement or any instrument or
Schedule or Exhibit related hereto or referred to herein, or the
application of such provision(s) to persons or circumstances other
than those in respect to which it is determined to be invalid or
unenforceable, all the provisions of the same being deemed for
purposes of the aggregate validity thereof to be separate.
Further, with respect to any such provision(s) determined to be
invalid or unenforceable, such provision(s) shall be deemed
reformed to the extent necessary to be valid and enforceable, and
to accomplish the intention of the parties as is most nearly
possible. It is the intent and belief of the parties that each and
every provision of applicable law required to be inserted in this
Agreement should be, and is hereby deemed to be, inserted and that
this Agreement in all respects comports with applicable law. If
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any provision(s) required to be inserted in this Agreement by law
is/are not inserted, or not inserted in correct form, then this
Agreement shall forthwith, upon the request of either party be
deemed amended so that such provision(s) required by law is/are
deemed inserted herein in correct form without prejudice to the
rights of either party.
24. Interpretations. All words or phrases used herein shall
have the meaning ascribed thereto by this Agreement, or if such is
silent, then there shall be ascribed thereto the normal, everyday
meaning as used in the real estate and related fields. The use of
the word(s) "parties" or "party" herein throughout shall mean
Purchaser and/or Seller unless specifically designated otherwise.
The use of the word(s) "person" or "persons" herein throughout
shall mean natural individuals or any recognized form of business
organization, enterprise or entity. The use of the term
"Purchaser" herein throughout shall include and also mean
Purchaser's nominee. The use of the term "Seller" herein
throughout shall include and also mean the actual grantor of the
Assets and/or the Real Property to Purchaser, if not Seller. The
use of the term "public record(s)" herein throughout shall mean the
official, public land title/ownership records wherein ownership of
the Real Property is memorialized. The use of the word(s)
"includes" or "including" or similar words herein throughout shall
be construed as if followed by the phrase "...without being limited
to...." As used herein throughout, references to "and" as well as
to "or" shall be construed either conjunctively or disjunctively as
necessary and wherever appropriate. As used herein throughout,
references to "Schedule(s)" shall mean the schedule(s) attached to
this Agreement and references to "Exhibits(s)" shall mean the
exhibit(s) attached to any of the Schedules. As used herein
throughout the term "hazardous material" shall mean any "hazardous
substance," "hazardous waste," "pollutant," or "contaminant" as
defined by any law relating to, regulating or imposing liability or
standards of conduct in connection with the protection and clean up
-31-
<PAGE>
of the environment, including the Comprehensive Environmental
Response, Compensation and Liability Act of 1980 (42 U.S.C. Sections
9601, et seq.), the Hazardous Materials Transportation Act (49
U.S.C. Sections 1802, et seq.), the Resource Conservation and Recovery
Act (42 U.S.C. Sections 6901, et seq.), and the United States Department
of Transportation Table (49 C.F.R. Section 1742.101); any substance
designated pursuant to the Clean Water Act (33 U.S.C. Sections 1251, et
seq.); any element, compound, mixture, solution or substance
designated pursuant to the Comprehensive Environmental Response,
Compensation and Liability Act of 1980 (42 U.S.C. Sections 9601, et
seq.), as amended; any hazardous waste having the characteristics
identified under or listed pursuant to the Solid Waste Disposal Act
(42 U.S.C. Section 6921), as amended; any toxic pollutant or combination
of pollutants listed under the Clean Water Act (33 U.S.C. Sections 1251,
et seq.), as amended; any hazardous air pollutant listed under the
Clean Air Act (42 U.S.C. Section 7412) as amended; any eminently
hazardous chemical, substance or mixture with respect to which the
Administrator of the United States Environmental Protection Agency
has taken action pursuant to the Toxic Substances Control Act (15
U.S.C. Section 2606)d, as amended; any petroleum or hydrocarbon product
or bi-product; radon; any material containing asbestos; urea
formaldehyde or polychlorinated biphenyls; and any hazardous,
dangerous, corrosive, radioactive, pesticidal, carcinogenic or
toxic chemical, material, waste or substance. As used herein
throughout, references to "law" shall mean any legislative,
executive, judicial or administrative law, enactment, statute, act,
bill, order, decision, code, judgment, decree, ruling,
proclamation, rule, regulation, ordination, finding, opinion,
advisement, guideline, ordinance, treaty, resolution, amendment,
consent, approval, permit, notification, mandate, doctrine,
declaration, license, certificate, privilege or similar measure
having force of law, including as based upon custom and
constitutional principle, in each case of any jurisdiction having
authority whatsoever, all as amended, reenacted or in effect as of
or from time to time. The singular form of any word used herein
-32-
<PAGE>
throughout shall be interpreted to include the plural or vice
versa. The masculine, feminine or neuter form of any word used
herein throughout shall be interpreted to be that necessary for
factual or grammatical accuracy. All of the foregoing shall be
construed to give proper meaning and grammatical form to the words,
terms, phrases and sentences used throughout this Agreement. This
Agreement shall not be construed more strictly against Purchaser
than against Seller merely by virtue of the fact that the same has
been prepared by legal counsel for Purchaser. It is recognized and
acknowledged by the parties that both Purchaser and Seller and the
respective legal counsel thereof have contributed substantially and
materially to the preparation, form, substance, and content of this
Agreement. In the event that any portion of the Assets and/or the
Real Property is comprised of personal property, then upon the
closing and unless a separate Bill of Sale consistent herewith is
delivered to Purchaser, this Agreement shall be deemed to be a Bill
of Sale for such personal property with full warranties and
representations of good title therein having been deemed to be made
hereby by Seller, subject only to the Permitted Exceptions.
25. Duties and Rights. No action or failure to act by
Purchaser or Seller shall constitute a waiver of any right, remedy
or recourse, nor shall any such action or failure to act constitute
an approval of, or acquiescence in, any default hereunder, except
as may be specifically agreed in writing. No waiver by Purchaser
or Seller of any default shall operate as a waiver of any other
default or of the same default on a future occasion. All rights,
remedies and recourses of the parties shall be considered to be
cumulative and not exclusive, except where explicitly indicated to
the contrary. Any failure of either party to enforce at any time
any provision hereunder shall not be construed as a waiver of the
right to thereafter enforce such provision and each and every other
provision hereof. Any acceptance of past due performance or curing
-33-
<PAGE>
of default by Purchaser or Seller shall not prejudice any of
Seller's or Seller's rights, remedies or recourses hereunder or at
law or equity, except where explicitly indicated to the contrary.
26. Calculation of Time. If the time period by which any
right, option, or election provided under this Agreement must be
exercised, or by which any act required herein must be performed or
by which the Closing must be held, expires on a Saturday, Sunday or
legal holiday, then such time period shall be automatically
extended to the close of business on the next regular business day.
27. Integration. This Agreement and all Schedules and
Exhibits and all instruments related hereto, alone, fully and
completely represent the final, entire and integrated expression of
agreement between Purchaser and Seller and supersedes all prior
negotiations, representations or agreements, either written or
oral, pertaining to the subject matter hereof or the transaction
contemplated hereby. Neither Purchaser nor Seller shall rely upon
any prior statement or representation made by or on behalf of the
other not embodied in this Agreement, the Schedules, the Exhibits
or any other instruments related hereto.
28. Cooperation. The parties shall reasonably cooperate to
fully accomplish the spirit and intent of this Agreement and
consummate the transaction contemplated hereunder.
-34-
<PAGE>
<PAGE>
29. Notice of Damage to, or Condemnation of, the Assets or
the Real Property Prior to the Closing. If at any time prior to
the Closing all or any material portion of the Assets or the Real
Property is destroyed or damaged or if any eminent domain or
condemnation proceedings are threatened or initiated or notice of
the initiation of any such eminent domain or condemnation
proceedings is received by Seller, Seller shall promptly give
notice thereof to Purchaser.
30. Counterparts. This Agreement may be executed in one or
more separate counterparts, each of which, when so executed, shall
be deemed to be the original. Such counterparts shall, together,
constitute and be one and the same instrument.
IN WITNESS WHEREOF, the parties hereto have caused this
instrument to be executed as of the day and year first above
written.
Signed and acknowledged SELLER:
in the presence of:
/s/ Donna Koszarek
_________________________________ ENVIRONMENTAL TRANSPORTATION
SERVICES, INC.
Print name: Donna Koszarek
______________________
By /s/ Michael D"Appolonia
____________________________
/s/ Peggy Hull Michael D'Appolonia
_________________________________ President
Print name: Peggy Hull
_______________________
PURCHASER:
/s/ Connie Buschur METROPOLITAN
_________________________________ ENVIRONMENTAL, INC.
Print name: Connie Buschur
______________________
By /s/ Scott H. Swonger
/s/ Kathy Rutschilling _____________________________
_________________________________ Scott H. Swonger
Print name: Kathy Rutschilling Secretary and Treasurer
-35-
<PAGE>
Purchase and Sale Agreement
Between Environmental Transportation Services, Inc. ("ETS") and
Metropolitan Environmental, Inc.
February 20, 1998
_________________
Summary of Assets
Purchase
Schedule I Price
__________ _________
Rolling Stock Equipment, Roll-off Containers $2,078,500
and all customer lists, contracts and related
files relating to the Roll-off Container
Business of ETS
Schedule II
___________
All furniture and fixtures, computer equipment, $ 233,114
shop equipment, inventory and spare parts located
at the Company's Chattanooga, TN and Oklahoma City,
OK facilities
Schedule III
____________
Real Estate $ 500,000
- Chattanooga, TN Terminal Facility
- Oklahoma City, OK Office and Terminal Facility
<PAGE>
<PAGE>
Schedules and Exhibits Index
to
Purchase and Sale Agreement
between
Environmental Transportation Services, Inc.
and
Metropolitan Environmental, Inc.
______________________________________
Listed below are documents which comprise the Schedules and
Exhibits to the Purchase and Sale Agreement between Environmental
Transportation Services, Inc. and Metropolitan Environmental, Inc.,
Copies of any or all of these documents will be provided to the
Commission upon request.
Schedule/Exhibit Description
________________ __________
Schedule I Environmental Transportation Services, Inc.
Rolling Stock and Roll-off Containers
Exhibit A Roll-off Boxes Under Rental Agreement,
February 20, 1998
Exhibit B Roll-off Boxes Not Under Rental Agreement,
February 20, 1998
Schedule II Environmental Transportation Services, Inc.
Other Fixed Assets, February 20, 1998
Exhibit C Environmental Transportation Services, Inc.,
Oklahoma City, Oklahoma Furniture and Fixtures
Exhibit D Environmental Transportation Services, Inc.,
Chattanooga, Tennessee, Furniture and Fixtures
Exhibit E Environmental Transportation Services, Inc.
Computer Equipment
Exhibit F Environmental Transportation Services, Inc.
Tools & Shop Equipment
Exhibit G Environmental Transportation Services, Inc.
Parts and Inventory
Schedule III Environmental Transportation Services, Inc.
Real Estate, February 20, 1998
Exhibit H Chattanooga, Tennessee Property Description
Exhibit I Oklahoma City, Oklahoma Property Description
IN THE UNITED STATES BANKRUPTCY COURT
FOR THE WESTERN DISTRICT OF OKLAHOMA
IN RE: )
)
ENVIRONMENTAL TRANSPORTATION )
SERVICES, INC., ) Case No. 98-11018 BH
) (Chapter 11)
Debtor. ) (Jointly Administered)
ORDER AUTHORIZING DEBTOR-IN-POSSESSION TO SELL ASSETS
FREE AND CLEAR OF ALL LIENS AND ENCUMBRANCES
PURSUANT TO 11 U.S.C. Section 363
___________________________
Comes on for hearing this 2nd day of April, 1998, the Debtor-
in-Possession's Motion to Sell Assets Free and Clear of All Liens
and Encumbrances Pursuant to 11 U.S.C. Section 363 (the "Motion"), filed
by Environmental Transportation Services, Inc., debtor and debtor-
in-possession ("Debtor"), pursuant to Sections 363(b) and 363(f) of
Title 11, United States Code (the "Bankruptcy Code"). Due notice of
the Motion has been given in accordance with Bankruptcy Rules 2002
and 6004, including the Notice of the Motion served on all
creditors and parties in interest in the case, and no other or
further notice need be given. The Court having considered the
Motion and the evidence presented at the hearing thereon, HEREBY
FINDS AND CONCLUDES AS FOLLOWS:
THE PURCHASE AND SALE AGREEMENT
_______________________________
1. The Debtor has proposed to sell certain personal property
as well as real property and other miscellaneous assets which are
more specifically described in the Motion (collectively, the
"Assets"), to Metropolitan Environmental Inc., an Indiana
corporation (the "Purchaser"). The Debtor is seeking this Court's
authority to: (i) enter into the Purchase and Sale Agreement (the
"Agreement") dated February 26, 1998, which Agreement is attached
as Exhibit "A" to the Motion; and (ii) consummate the transactions
as set forth therein.
<PAGE>
2. The proposed purchase price for the Personal Property
Assets was $2,311,614.00 and the proposed purchase price for the
Real Property Assets was $500,000.00 (together, the "Purchase
Price"). Pursuant to Section 2.2.3 of the Agreement, on March 6,
1998, Purchaser elected to exclude all of the Fixed Assets, Spare
Parts and Inventory set forth in Schedule II to the Agreement. As
a result, the Purchase Price will be reduced by $233,114.00 and is
now $2,578,500.00. The terms of the Agreement are otherwise
expressly modified as follows: (i) the Real Property Escrow Account
will apply only to the Oklahoma Real Property Asset and no escrow
will be applicable with respect to the Tennessee Real Property
Asset; (ii) any agreement between Debtor and Purchaser to resolve
the issues arising out of the environmental condition of the
Oklahoma Real Property Asset which proposes an alternative other
than as anticipated under Section 8.3.2(A), (B) or (C) of the
Agreement, must be approved by Congress Financial Corporation
(Southwest) ("CFC"), CFC agreeing to act in good faith in this
regard; and (iii) Closing shall occur within two (2) business days
of Debtor's written notification to Purchaser that the title
exception to the Tennessee Real Property Asset involving Shipp Lane
has been removed as an exception by the title company.
3. The Purchaser and Debtor will share equally the
responsibility for payment of all transfer taxes, if any. The real
estate taxes which are a lien which are to become due will be
prorated between the Debtor and the Purchaser to the date of the
closing. The real estate taxes which are due and which are
delinquent will be paid by the Debtor.
_____________________________
1 The Oklahoma Real Property Asset and the Tennessee Real
Property Asset are more specifically described on the attached Exhibits
"A" and "B," respectively.
2
<PAGE>
APPROVAL OF SALE
________________
4. Except for real estate taxes, which are to be paid at the
closing, and a vendor's lien on the Tennessee Real Property Asset,
which is to be released prior to closing, the Debtor believes that
there are no liens against the Assets except for those liens of CFC
against substantially all of the Assets, and the lien of Carl
Anderson ("Anderson") against the Oklahoma Real Property Asset.
The Debtor shall sell and the Purchaser shall acquire the Assets
free and clear of all liens, claims and encumbrances.
5. The net proceeds from the sale of the Assets will be
held in a segregated, interest-bearing account by the Debtor
(separate and apart from the Debtor-in-Possession Operating Account
and the Debtor's Lock Box Account) at a federally insured
institution and collateralized pursuant to U.S. Trustee's
Guidelines pending further order of this Court.
6. The total Purchase Price for the Assets is greater than
the amount which Debtor could realize from any other sale for the
Assets as a whole or pursuant to a piecemeal sale of the same.
7. The Debtor is fully authorized under its corporate
charter and by order of this Court to enter into the transactions
contemplated herein. Pursuant to Sections 363 (b) and (f) of the
Bankruptcy Code, the Debtor is specifically authorized to sell the
Assets free and clear of any and all interest and liens in such
property including any liens or claims against the Personal
Property Assets, the Tennessee Real Property Asset and the
Oklahoma Real Property Asset.
8. Pursuant to Section 363 (m) of the Bankruptcy Code, the
Purchaser shall be deemed a good-faith purchaser.
9. CFC and Anderson filed limited objections or responses to
the Motion. Dorothy Johnstone also filed an Objection to the
Motion ("Johnstone Objection").
3
<PAGE>
Based on the foregoing findings of fact and conclusions of
law, and upon due deliberation and sufficient cause appearing, IT
IS HEREBY ORDERED AS FOLLOWS:
A. The objections of CFC and Anderson, to the extent
inconsistent with this Order, are overruled. The Johnstone
Objection is specifically overruled.
B. The Debtor-in-Possession's Motion to Sell Assets Free and
Clear of All Liens and Encumbrances pursuant to 11 U.S.C. Section 363 is
granted in its entirety (including approval of the back-up contract
with Taylor & Martin) and the Debtor is ordered to transfer the
deeds and Assets pursuant to the terms of the Agreement and
consistent with the terms of this Order.
C. The purchase price for the Personal Property Assets is
$2,078,500.00 and the Purchase Price for the Real Property Assets
is $500,000.00, and the Agreement is otherwise modified to the
extent necessary to comply with the terms of this Order.
D. Debtor's execution and delivery of the Agreement with the
Purchaser and performance of its obligations under the Agreement
with the Purchaser is approved.
E. The net proceeds from the sale of the Assets including
the Real Property Assets will be held in a segregated, interest-
bearing account by the Debtor (separate and apart from the Debtor-
in-Possession Operating Account and the Debtor's Lock Box Account)
at a federally insured institution and collateralized pursuant to
U.S. Trustee's Guidelines pending further order of this Court.
F. Debtor is hereby authorized and directed to execute and
deliver any and all additional documents and to take such other
action as may be reasonably necessary or appropriate to perform its
obligations under the Agreement with the Purchaser and this Order,
including, without limitation, executing: agreements, deeds,
assignments, bills of sale, amendments and schedules as may be
4
<PAGE>
reasonably required to effect the transactions authorized by this
Order, provided that such additional or supplemental agreements do
not materially change the terms of the transactions contemplated by
the Agreement.
G. Debtor is authorized to take such corporate actions as
may be necessary to implement the provisions of the Agreement and
to execute and file any necessary documents with any appropriate
secretary of state or other governmental agency, and this Order
shall constitute all approvals and consents required by the laws of
any state necessary to file, record and accept such documents.
H. The Assets shall be sold, conveyed, assigned, transferred
and delivered to the Purchaser free and clear of all liens,
mortgages, pledges, security interests, restrictions, prior
assignments, liabilities, obligations, encumbrances, charges,
claims and interests of any and every kind, nature and description
whatsoever, including, without limitation, claims arising out of
pending litigation, those granted and imposed by prior orders of
the Court and the liens of Debtor, if any.
I. Upon consummation of the Agreement with the Purchaser,
and receipt of the proceeds as set forth herein, all liens,
including the liens of CFC, Anderson and the Debtor (if any), shall
attach, as appropriate, to the proceeds of the sale of the Assets,
including any income earned on such proceeds, with the same
validity, force, status, extent and effect, if any, as the liens
had prior to the Agreement.
J. After consummation of the Agreement, Purchaser shall not
be deemed to be a successor in interest to Debtor with respect to
any liabilities, and pursuant to Section 363 (m) of the Bankruptcy
Code, the Purchaser is deemed to be a good-faith purchaser.
5
<PAGE>
K. To the extent that Section 1146(c) of the Bankruptcy Code
applies, the sale of the Assets to the Purchaser shall be exempt
from any and all stamp, value-added, transfer, recording and other
similar taxes (other than income taxes) and shall be exempt from
any transfer or recording fees or other similar costs incurred or
assessed by any federal, state, local or foreign taxing authority
(including interest and penalties, if any) in connection with the
sale or transfer of the Assets or the transactions contemplated by
the Agreement.
L. This Order shall govern the acts of all entities,
including, without limitation, all filing agents, filing officers,
title agents, title companies, recorders of mortgages, recorders of
deeds, registrars of deeds, administrative agencies, governmental
departments, secretaries of state, federal, state and local
officials, and all other persons and entities who may be required
by operation of law, the duties of their office, or contract, to
accept, file, register or otherwise record or release any documents
or instruments, or who may be required to report or insure any
title or state of title in or to any of the Assets.
M. Except as otherwise provided by further order of the
Court, the Court shall retain jurisdiction to resolve any disputes
arising under or relating to the Agreement, this Order and the
distribution of the proceeds from the sale of the Assets.
N. This Order shall serve as notice that each and every
federal, state and local governmental agency or department may
accept any and all documents and instruments necessary and
appropriate to consummate the transactions contemplated by the
Agreement.
O. The Agreement and this Order shall be binding upon and
shall inure to the benefit of Debtor and the Purchaser and their
respective successors and assigns, including, without limitation,
6
<PAGE>
any trustee who may be elected or appointed in Debtor's Chapter 11
case or any subsequent Chapter 7 case.
P. Any entity seeking to enjoin the consummation of the
transactions approved in this Order must commence such action in
this Court.
Q. This Order is a final order and, in accordance with
Bankruptcy Rule 8001(a), the time to file a notice of appeal of the
Order shall commence from the date of the entry of this Order by
the Court.
Dated this 7 day of April, 1998.
___
/s/ Richard L. Bohanon
________________________________
RICHARD L. BOHANON
United States Bankruptcy Judge
APPROVED FOR ENTRY:
/s/ Kiran A. Phansalkar
______________________________________
Kiran A. Phansalkar, OBA # 11470
Laura L. McCasland, OBA # 17669
CONNER & WINTERS, P.C.
One Leadership Square
211 N. Robinson, Suite 1700
Oklahoma City, OK 73102
(405) 272-5711
(405) 232-2695 (fax)
ATTORNEYS FOR DEBTOR
7
<PAGE>
<PAGE>
Reviewed But Not Signed
________________________________
Clifton R. Jessup, Jr., TBN 10655020
Bruce H. White, TBN 21288850
George H. Barber, TBN 01705650
PATTON BOGGS, LLP
2200 Rose Ave., Suite 900
Dallas, Texas 75201
(214) 871-2141
ATTORNEYS FOR CONGRESS FINANCIAL
CORPORATION (SOUTHWEST)
/s/ Ross A. Plourde
_________________________________
Ross A. Plourde, OBA # 7193
McAfee & Taft
A Professional Corporation
10th Floor, Two Leadership Square
Oklahoma City OK 73102
(405) 235-9621
ATTORNEYS FOR CARL B. ANDERSON, JR.
/s/ Jackie L. Hill, Jr.
_________________________________
Jackie L. Hill, Jr., OBA # 11861
BRITTON GRAY AND HILL P.C.
100 N. Broadway, Suite 2060
Oklahoma City, OK 73102
(405) 239-2393
ATTORNEY FOR XTRA LEASE, INC.
8
<PAGE>
<PAGE>
/s/ G. Timothy Armstrong
_______________________________________
G. Timothy Armstrong, OBA #324
G. Timothy Armstrong, P.C.
3033 N.W. 63rd Street, Suite 150
Oklahoma City OK 73116
(405) 840-4383
ATTORNEYS FOR DOROTHY JOHNSTONE
lmca\ETS\Met Sale.ord
9
UNITED STATES BANKRUPTCY COURT
WESTERN DISTRICT OF OKLAHOMA
In re: Ametech Inc and )
Environmental )
Transportation ) Case No. 98-11018 BH
Services Inc. ) Chapter 11
)
)
Debtor(s) )
)
)
_______________________________
MONTHLY REPORT
______________
FOR MONTH OF February 28, 1998
NOTE: This Report and attached Statements are due for each
calendar month period from time of filing petition (first report
will be for a short period) until the case is dismissed,
converted or a plan is confirmed. The report is due the 15th of
the month following the reporting period. (i.e. The January
report is due February 15th)
<PAGE>
<PAGE>
CASE NAME: Ametech/ETS
CASE NO.: 98-11018-BH
CHAPTER 11
MONTHLY REPORTING AFFIDAVIT
For Month of February 28, 1998
1. Provide the following information regarding salaries/wages
paid/due.
GROSS amount of executive salaries paid 25,000.00
____________________
Name Title Amount
Michael R. D'Appolonia President & CEO 25,000
______________________ _______________ __________
______________________ _______________ __________
______________________ _______________ __________
Gross amount of other wages paid 22,368.50
___________
Were any wages/salaries due but not paid for this current
month? YES NO X
___ ___
If yes, provide the employee's name and title and amount due
on separate page.
For sole proprietors or partnerships; provide amount of
owners or partners draws of any form.
________________________
2. Provide the following information regarding taxes paid/due.
Are all post-petition federal and state taxes paid or
deposited for the period? YES X NO
_____ _____
<TABLE>
<CAPTION>
Provide dollar detail of taxes for this period.
Amounts OWED Amounts PAID in
Type of tax for Month current report Month
______________ _________________ _________________________
FOR WHICH
AMOUNTS AMOUNTS PAYROLL MONTH(S)
________ ____________ ___________________
<S> <C> <C> <C>
Federal withholding 9,350.29 9,350.29 Feb 1998
_______________________________________________________________
FICA withholding 3,623.70 3,623.70 Feb 1998
_______________________________________________________________
Employer's FICA 3,623.69 3,623.69 Feb 1998
_______________________________________________________________
State withholding 1,681.04 1,681.04 Feb 1998
_______________________________________________________________
Sales tax
_______________________________________________________________
Other taxes
(Describe)
_______________________________________________________________
</TABLE>
Attached photocopies of IRS Form 6123 or receipt of tax
deposit and similar receipt/form for state taxing authorities to
verify state deposits or payments.
Page 1 of 3
<PAGE>
<PAGE>
CASE NAME: Ametech/ETS
____________________
CASE NO.: 98-11018-BH
____________________
CHAPTER 11
MONTHLY REPORTING AFFIDAVIT
For month of February 28, 1998
<TABLE>
<CAPTION>
3. Does all insurance coverage remain in effect? YES X NO
___ ___
Type Carrier Policy# Exp. Date
______ _________ ________ __________
<S> <C> <C> <C>
Property damage Commercial Inland Marine 661-00-68 5/21/98
_________________________________________________________________
Liability Marketing Companies APP5047 1/21/99
_________________________________________________________________
Workers' State Insurance Fund 00383231 5/1/98
compensation
_________________________________________________________________
Other
_________________________________________________________________
</TABLE>
4. Do all required licenses remain in effect? YES X NO
____ _____
Description Renewal date
____________ ____________
_________________________________________________________________
_________________________________________________________________
_________________________________________________________________
5. FOR CORPORATE DEBTORS: Is the corporate charter in good
standing? YES X NO If NO, comment below:
____ ____
_________________________________________________________________
_________________________________________________________________
_________________________________________________________________
6. PROFESSION FEES PAID: YES NO X
____ ____
If YES, comment below:
PAYMENT
AMOUNT AGE DATE
Attorneys fees ________ ______ ________
Other professional fees: ________ ______ ________ _____
____________ _________ ________ ______
________________________ ________ ______
Page 2 of 3
<PAGE>
<PAGE>
CASE NAME: Ametech/ETS
____________________
CASE NO.: 98-11018-BH
____________________
CHAPTER 11
MONTHLY REPORTING AFFIDAVIT
For month of February 28, 1998
<TABLE>
<CAPTION>
7. Check [X] to indicate which of the following forms are
attached:
EXHIBIT
___________
<S> <C>
-Income statement "A" X
__ __
-Receipts and Disbursements Summary
(Summary for each bank account) "B" X
__ __
-Cash Disbursements listing "C" X
__ __
-Copy of bank reconciliation & statement(s) "D" X
__ __
-Balance Sheet "E" X
__ __
-Statement of Aged Accounts Receivable "F" X
__ __
-Statement of Aged Post Petition Accounts
and Taxes Payable "G" X
__ __
-Receipts and Disbursements(Individual Only) "H" X
__ __
-Copy of Chapter 11 Quarterly Fee
Payment Report (include for the last
month of the quarter which the fee
is calculated) "I"
__ __
-IRS Form 6123 or copy of tax deposit "J" X
receipt __ __
-Other Information Required/Requested " "
___ __ __
</TABLE>
1 Upon written approval by the office of the U.S.T., debtors
may use their pre-bankruptcy accounting formats for the above; If
at a minimum, the information contained in the attached U.S.T.
sample forms are provided. Statements must be prepared in
accordance with generally accepted accounting principles.
I(we) declare under penalty of perjury that this Report and
attached Statements are true and correct to the best of my (our)
knowledge and belief.
DATED: March 24, 1998 DEBTOR: /s/ Scott Brown *
________________
CO-DEBTOR: ________________ **
*This report must be signed by an individual having sufficient
knowledge of the facts to make a truthful and full statement.
**If this is a joint petition, both husband and wife must sign.
REV. 02/18/94 Page 3 of 3
<PAGE>
<PAGE>
Case Name: Ametech/ETS
Case No.: 98-11018 BH
<TABLE>
<CAPTION>
AMETECH, INC. AND SUBSIDIARIES
CONSOLIDATED INCOME STATEMENT
FEBRUARY 28, 1998
<S> <C>
REVENUES:
Transportation Business
Roll-off box rental 55,272
Other (16,061)
____________
39,211
COSTS AND EXPENSES:
Wages 79,938
Contract Labor 13,809
Interest Expense 30,853
License & permits 108,195
Taxes 34,066
Legal 87,409
Loss on Sale 324,055
Travel 5,078
Utilities 8,399
Misc Other 87,614
____________
779,417
____________
EARNINGS BEFORE
DEPRECIATION (740,205)
____________
OTHER INCOME (EXPENSE):
Depreciation (44,226)
____________
(44,226)
____________
NET INCOME (LOSS) ($784,432)
============
</TABLE>
03/26/98 09:02 PM
<PAGE>
<PAGE>
CASE NAME: Ametech/ETS
____________________
CASE NO.: 98-11018-BH
____________________
<TABLE>
<CAPTION>
CHAPTER 11
RECEIPTS AND DISBURSEMENTS SUMMARY (EXHIBIT "B")
For month of February 28,1998
Lock Box Account No. 0003625729
_____________
<S> <C> <C> <C>
1. BEGINNING checkbook balance $ 8,682.17
__________
2. Cash receipts for the month
Transfers from other
Account _____________
Collection of Account 312,741.26
receivable _____________
Other _____________
_________________________ _____________
TOTAL cash receipts for $312,741.26
the month ___________
3. Cash disbursements for the month
Per attached list of
disbursements
_____________
Transfers to other 107,000.00
accounts
Other Congress Financial 191,201.44
________________________ _____________
TOTAL cash disbursements for 298,201.44
the month ___________
4. ENDING checkbook balance (1+2-3) $ 23,221.99
===========
</TABLE>
<TABLE>
<CAPTION>
CASH SUMMARY - END OF MONTH
ALL ACCOUNTS
Account No. or location
_________________________
<S> <C> <C>
Petty cash $
______________________ ___________________
Operating account Will Rogers Bank 33,825.45
______________________ _______________
Payroll account Will Rogers Bank 831.46 *
______________________ _______________
Tax account *
______________________ _______________
Other accounts Will Rogers Bank 23,221.99 *
______________________ _______________
__________ ______________________ _______________
__________ ______________________ _______________
Total $ 57,878.90
===============
</TABLE>
** (should agree with 4. above)
NOTE: A copy of a bank statement from each bank account and a
reconciliation between the statement and your checkbook must
accompany this statement.
Page 2 of 2
<PAGE>
<PAGE>
CASE NAME: Ametech/ETS
____________________
CASE NO.: 98-11018-BH
____________________
<TABLE>
<CAPTION>
CHAPTER 11
RECEIPTS AND DISBURSEMENTS SUMMARY (EXHIBIT "B")
For month of February 28, 1998
Operating Account No. 003625702
_______________
<S> <C> <C> <C>
1. BEGINNING checkbook balance $ 0
______________
2. Cash receipts for the month
Collection of accounts
receivable ___________
Cash sales ___________
Transfers from other
Accounts 107,000.00
___________
Other (interest,
dividends, gifts) ___________
___________
Closed accounts 8,913.87
__________________ ___________
__________________ ___________
__________________ ___________
TOTAL cash receipts
for the month 115,913.87
__________
3. Cash disbursements for the month
Per attached list of
disbursements 29,438.07
___________
Other Payroll transfer 51,100
__________________ __________
Misc. adjustments 1,550.35
__________________ __________
__________________ __________
TOTAL cash disbursements 82,088.42
for the month __________
4. ENDING checkbook balance (1+2-3) $ 33,825.45
============
</TABLE>
<TABLE>
<CAPTION>
Payroll Account No. 0003625702
_____________
<S> <C> <C> <C>
1. BEGINNING checkbook balance $ 0.00
______________
2. Cash receipts for the month
Transfers from other
Account 000365720 51,100
________________ _________
Collection of accounts
receivable _________
Other
_________________ _________
_________________ _________
_________________ _________
TOTAL cash receipts for
the month 51,100
___________
3. Cash disbursements for the month
Per attached list of
disbursements 50,129.09
_________
Other misc. 139.45
_________________ _________
_________________ _________
_________________ _________
TOTAL cash disbursements
for the month 50,268.54
__________
4. ENDING checkbook balance (1+2-3) $ 831.46
==========
</TABLE>
Page 1 of 2
<PAGE>
<PAGE>
<TABLE>
<CAPTION>
AP750 CHECK REGISTER PAGE 1 13 MAR 1998
WITH BEGINNING CHECK DATE: 12/01/98 AND ENDING CHECK DATE 02/28/98
FOR COMPANY: 03
CHECK....CHECK...ISSUED..VENDOR.......CHK....DISCOUNT..VOID..TYPE
DATE.....NUMBER..TO AMOUNT..AMOUNT...AMOUNT...
<S> <C> <C> <C> <C> <C> <C> <C>
02/24/98 0219 10462 BROWN SCOTT 306.00 DC
02/18/98 2005 9111 ATLANTA GAS
LIGHT COMPANY 302.96 DC
02/18/98 2006 7114 BELL SOUTH 714.86 DC
02/18/98 2007 47744 ELECTRIC POWER
BOARD 75.51 DC
02/18/98 2008 8373 CITY OF
OKLAHOMA CITY 158.42 DC
02/18/98 2009 6987 OKLAHOMA
NATURAL GAS 1,263.08 DC
02/18/98 2010 7140 OG&E 780.54 DC
02/18/98 2011 9869 SOUTHWESTERN
BELL 1,316.78 DC
02/19/98 2012 10421 D'APPOLONIA,
MICHAEL 2,056.51 DC
02/19/98 2013 10383 SUTTLES,EDDYE 333.00 DC
02/20/98 2014 8936 OHL JAMES 520.00 DC
02/20/98 2015 6924 CORNISH,JERRY 520.00 DC
02/24/98 2017 9869 SOUTHWESTERN
BELL 150.00 DC
02/24/98 2018 10237 BELLSOUTH 64.99 DC
02/24/98 2021 10395 HUMANA
EMPLOYERS
HEALTH 3,636.56 DC
02/24/98 2022 7115 SOUTHWESTERN
BELL 133.60 DC
02/24/98 2024 7247 TENNESSEE
AMERICAN
WATER CO. 113.66 DC
02/24/98 2026 7139 OKLA SECRETARY
OF STATE 40.00 DC
02/24/98 2027 7334 AIRBORNE
EXPRESS 328.59 DC
02/24/98 2028 7806 CERIDIAN INC 774.25 DC
02/24/98 2029 7806 CERIDIAN INC 507.75 DC
02/26/98 2030 10473 STATE INSURANCE
FUND 542.00 DC
02/26/98 2031 7937 TRI STATE
SECURITY
AGENCY INC 4,368.00 DC
02/27/98 2032 10421 D'APPOLONIA,
MICHAEL 2,120.56 DC
02/24/98 2033 8924 CORNISH,
MICHAEL 500.00 DC
02/24/98 2034 8936 OHL, JAMES 500.00 DC
02/27/98 2035 10383 SUTTLES, EDDYE 370.00 DC
02/27/98 2036 8936 OHL JAMES 462.00 DC
02/27/98 2037 8924 CORNISH, JERRY 312.00 DC
02/06/98 19981A 8924 CORNISH, JERRY 0.00 -633.00 V
02/13/98 D2000 4158 BROWNING FERRIS
IND 114.81 DC
02/13/98 D2001 8924 CORNISH, JERRY 526.50 DC
02/13/98 D2002 8936 OHL, JAMES 526.50 DC
02/13/98 D2003 7055 PETTY CASH-OKC 211.13 DC
02/13/98 D2003A 7055 PETTY CASH-OKC 177.14 DC
02/13/98 D2004 10383 SUTTLES, EDDYE 370.00 DC
02/24/98 D2016 7055 PETTY CASH-OKC 612.68 DC
02/05/98 D019980 10395 HUMANA
EMPLOYERS
HEALTH 3,506.67 DC
02/06/98 D19981A 9089 SOUTHWEST
TENN
ELECTRIC 0.00 -174.13 V
02/06/98 D019981B 8936 OHL, JAMES 0.00 -633.00 V
02/06/98 D19981B 8936 OHL, JAMES 1,440.13 DC
02/24/98 M2020 10489 HOSS EXPRESS
INC 17.50 M
02/24/98 M2023 9869 SOUTHWESTERN
BELL 54.52 M
02/24/98 M2025 10371 WASTE
INDUSTRIES 49.00 M
</TABLE>
<PAGE>
<PAGE>
<TABLE>
<CAPTION>
AP750 CHECK REGISTER PAGE 2 13 MAR 1998
WITH BEGINNING CHECK DATE: 12/01/98 AND ENDING CHECK DATE 02/28/98
FOR COMPANY: 03
CHECK....CHECK...ISSUED..VENDOR.......CHK....DISCOUNT..VOID.....TYPE
DATE.....NUMBER..TO AMOUNT..AMOUNT...AMOUNT...<C>
<S> <C> <C> <C> <C> <C> <C>
*** 30,878.20 0.00 -1,440.13
30,878.20 0.00 -1,440.13
</TABLE>
44 records listed.
<PAGE>
<PAGE>
Case Name: Ametech/ETS
Case No.: 98-11018-BH
Chapter 11
Attachment to Cash Receipts & Disbursement Statement
For the Month of February 28, 1998
Payroll Account
<TABLE>
<CAPTION>
AMETECH, INC. AND SUBSIDIARIES
Payroll Disbursements
26-Mar-98
Payroll
Payroll Taxes Total
______________ _______________ _____________
<S> <C> <C> <C>
15-Feb-98 17,693.92 10,092.20 27,786.12
28-Feb-98 13,861.05 8,481.92 22,342.97
______________ _______________ _____________
31,554.97 18,574.12 50,129.09
Misc. Charges 139.45
____________
50,268.54
============
</TABLE>
See attached payroll for detail
03-26-98 04:10PM
<PAGE>
<PAGE>
PAYROLL REGISTER
E70 AMETECH, INC.
No. Co. Name
EMPLOYEE ID EMPLOYEE NAME ......HOURS AND EARNINGS.....
PC
DESCRIPTION HOURS AMOUNT
_________________________________________________________________
0-1399-08350 BAZE JOHN ----------Q-TO-D---------
941 BRADLEY 3287.50
OKLA CITY OK 73127 ----------Y-TO-D---------
1 REGULAR 2887.50
SS-NO ###-##-#### FRQ S STAT T 9C ON CALL 400.00
BASE 1443.75 M/S M SEX M
HIRE 02/24/92 FTC 04 FADJ $010
TERM 01/31/98 STC 04 SADJ $002
ST1 OK
PEN N
_________________________________________________________________
0-9500-11600 BROWN, SCOTT N 1 REGULAR 1875.00
1931 E. ENSEY ----------Q-TO-D---------
MUSTANG, OK 73064 9375.00
----------Y-TO-D---------
SS-NO ###-##-#### FRQ S STAT A 1 REGULAR 9375.00
BASE 1875.00 M/S M SEX M
HIRE 10/20/97 FTC 00
STC 00
ST1 OK
PEN N
EFT-ACCOUNT# ID BK TP TRANSIT-NO
1414073862 A MC C 3030-8799-5
_________________________________________________________________
0-9500-16800 D'APPOLONIA MICHAEL R 1 REGULAR 12500.00
756 FAIRVIEW ROAD ----------Q-TO-D---------
PITTSBURGH, PA 15238 62500.00
----------Y-TO-D---------
SS-NO ###-##-#### FRQ S STAT A 1 REGULAR 62500.00
BASE 12,500 M/S M SEX M
HIRE 10/03/97 FTC 09
STC 09
ST1 PA
PEN N
EFT-ACCOUNT# ID BK TP TRANSIT-NO
3017107 A ME C 0430-0026-1
_________________________________________________________________
0-9500-27920 FINLEY MARGARET E. 1 REGULAR 1366.33
9836 CREST DRIVE ----------Q-TO-D---------
MIDWEST CITY OK 6831.65
----------Y-TO-D---------
1 REGULAR 6831.65
SS-NO ###-##-#### FRQ S STAT A
BASE 1366.33 M/S S SEX F
HIRE 06/09/92 FTC 02
STC 02
ST1 OK
EFT-ACCOUNT# ID BK TP TRANSIT-NO
5485762 B LA S 1030-0019-8
<PAGE>
084
02/28/98 s-02/27/98 PAY
04 1
Report Date CHECKS DATED PERIOD PAGE NO.
_________________________________________________________________
........DED AND ADJ......... .............GROSS TO NET.........
DESCR AMOUNT CODES Y-TO-D TYPE CURRENT CHECK#
_________________________________________________________________
- --------BAL/LMT-------- 3287.50 GRCOMP .00
EXPRC 800.00 BAL 3287.50 GRPAY .00
3725.00 LMT 203.83 SSEC .00
- ---------Y-TO-D-------- 47.67 MDCR .00
EXPRC 200.00 297.50 FIT .00
MED2 244.00 146.76 ST1 OK .00
444.00 TOTDED .00
2147.74 NET .00
QTD WEEKS WORKED 2.17
__________________________________________________________________
EFTAB 9375.00 GRCOMP 1875.00
9375.00 GRPAY 1875.00
581.25 SSEC 116.25
135.94 MDCR 27.19
1204.70 FIT 240.94
478.30 ST1 OK 95.66
6974.81 NET 1394.96 A346
EFT A 1394.96
QTD WEEKS WORKED 8.68
_________________________________________________________________
EFTAB 62500.00 GRCOMP 12500.00
62500.00 GRPAY 12500.00
3875.00 SSEC 775.00
906.25 MDCR 181.25
16936.65 FIT 3387.33
1750.00 ST1 PA 350.00
39032.10 NET 7806.42 A347
EFT A 7806.42
QTD WEEKS WORKED 8.68
_________________________________________________________________
MED2 122.00 005* 6831.65 GRCOMP 1366.33
EFTB1 75.00 6831.65 GRPAY 1366.33
EFTC2 25.00 423.56 SSEC 84.71
EFTAB 99.06 MDCR 19.81
- --------Y-TO-D------- 786.50 FIT 157.30
MED2 610.00 337.60 ST1 OK 67.50
610.00 TOTDED 122.00
4574.93 NET 914.99 A348
EFT B 75.00
EFT C 25.00
EFT A 814.99
QTD WEEKS WORKED 8.68
_________________________________________________________________
<PAGE>
<PAGE>
PAYROLL REGISTER
E70 AMETECH, INC.
No. Co. Name
EMPLOYEE ID EMPLOYEE NAME ......HOURS AND EARNINGS.....
PC
DESCRIPTION HOURS AMOUNT
_________________________________________________________________
0-9500-37990 HUGHES DIANA
****CONTINUED****
4273664 B WD S 3030-8563-8
24468084 A TB C 3030-8582-9
_________________________________________________________________
0-1399-38300 JAMES MELVEN D. 1 REGULAR 1662.50
RT. 1, BOX 247 ---------Q-TO-DATE-------
S. COFFEYVILLE,OK 8312.50
74072 ---------Y-TO-DATE-------
1 REGULAR 8312.50
SS-NO ###-##-#### FRQ S STAT A
BASE 1662.50 M/S M SEX M
HIRE 07/21/97 FTC 02
ST1 OK
PEN N
EFT-ACCOUNT# ID BK TP TRANSIT-NO
4055003541 A BM C 1030-0363-2
_________________________________________________________________
0-9500-74420 LAYMAN CHRISTIE R ----------Q-TO-D---------
218 E DOUGLAS DR 1000.00
MIDWEST CITY OK ----------Y-TO-D----------
73110 1 REGULAR 1000.00
SS-NO ###-##-#### FRQ S STAT T
BASE 1000.00 M/S S SEX F
HIRE 08/14/98 FTC 00 FADJ $010
TERM 01/15/98 STC 00 SADJ $010
ST1 OK
_________________________________________________________________
0-1301-53210 LONGORIA BLANCA 1 REGULAR 1001.00
5225 COBLE ----------Q-TO-D---------
OKLA CITY, OK 73135 5077.19
----------Y-TO-D---------
SS-NO ###-##-#### FRQ S STAT A 1 REGULAR 5005.00
BASE 1001.00 M/S S SEX F 5 OVERTIME 1.50 25.99
HIRE 07/24/89 FTC 03 6 STRAIGHT 4.00 46.20
TIME
STC 03
ST1 OK
EFT-ACCOUNT# ID BK TP TRANSIT-NO
0001451946 B TB S 3030-8582-9
14519464 A TB C 3030-8582-9
_________________________________________________________________
0-9500-17968 NELSON MARILYN J *****TERMINATED******
9917 TRAFALGAR DR ----------Q-TO-D---------
OKLA CITY OK 73139 5733.36
----------Y-TO-D---------
SS-NO ###-##-#### FRQ S STAT T 1 REGULAR 5733.36
BASE 1433.34 M/S M SEX F
HIRE 06/01/92 FTC 02
TERM 02/28/98 STC 02
ST1 OK
<PAGE>
<PAGE>
084
02/28/98 s-02/27/98 PAY
04 3
Report Date CHECKS DATED PERIOD PAGE NO.
_________________________________________________________________
........DED AND ADJ......... .............GROSS TO NET.........
DESCR AMOUNT CODES Y-TO-D TYPE CURRENT CHECK#
_________________________________________________________________
_________________________________________________________________
MED2 122.00 005* 8312.50 GRCOMP 1662.50
EFTAB 8312.50 GRPAY 1662.50
- ---------Y-TO-D---------- 515.38 SSEC 103.80
MED2 610.00 120.53 MDCR 24.10
876.55 FIT 175.31
383.10 ST1 OK 76.62
610.00 TOTDED 122.00
5806.94 NET 1161.39 A345
EFT A 1161.39
QTD WEEKS WORKED 8.68
______________________________________________________________
1000.00 GRCOMP .00
1000.00 GRPAY .00
62.00 SSEC .00
14.50 MDCR .00
143.44 FIT .00
56.78 ST1 OK .00
723.28 NET .00
QTD WEEKS WORKED 2.17
_________________________________________________________________
MED2 122.00 005* 5077.19 GRCOMP 1001.00
EFTB 1 225.00 5077.19 GRPAY 1001.00
EFTAB 314.79 SSEC 62.07
- ----------Y-TO-D---------- 73.62 MDCR 14.52
MED2 610.00 425.63 FIT 82.96
203.05 ST1 OK 39.60
610.00 TOTDED 122.00
3450.10 NET 679.85 A344
EFT B 225.00
EFT A 454.85
QTD WEEKS WORKED 8.68
_________________________________________________________________
EFTB1 100.00 5733.36 GRCOMP .00
EFTAB 5733.36 GRPAY .00
355.47 SSEC .00
83.13 MDCR .00
563.76 FIT .00
242.32 ST1 OK .00
4488.68 NET .00
EFT B .00
EFT A .00
<PAGE>
<PAGE>
PAYROLL REGISTER
GRAND TOTALS
E70 AMETECH, INC.
NO. CO. NAME
_________________________________________________________________
_________________________________________________________________
HOURS/EARNS PC DESCRIPTION HOURS EARNINGS
CURRENT 1 REGULAR
21,113.33
_________________________________________________________________
HOURS/EARNS PC DESCRIPTION HOURS EARNINGS
Q-TO-D 134,053.66
Y-TO-D 1 REGULAR 132,621.51
6 STRAIGHT TIME 68.00 1,006.16
_________________________________________________________________
DEDUCTION TO NET
CURRENT MED2 500.00
YTD EXPRC 200.00 MED2 3,572.76
_________________________________________________________________
GROSS TO NET WAGES SOCSEC FEDERAL STATE
MEDICR
CUR GRPAY 21113.33 1309.04
GRCOMP 21113.33 306.15 4360.64 776.45 TDT
426.45 OK
YTD GRPAY 134053.66 8311.35 25168.20 350.00 PA
GRCOMP 134053.66 1943.78 4603.40 TOT
2853.40 OK
1750.00 PA
_________________________________________________________________
CURRENT TAX RECAP 0 VOID/MANUAL CHECKS INCLUDED
__________
FORM 8109 FEDERAL DEPOSIT TYPE JURISDICTION TAXABLE
WAGES
EMPLOYEE SSEC 1,309.04
EMPLOYEE MDCR 306.15
EMPLOYER SSEC 1,309.03 21,113.33
EMPLOYER MDCR 306.14 21,113.33
EMPLOYEE FIT 4,360.64
TOTAL DEPOSIT 7,591.00
FUTA STANDARD RATE 21,113.33
SUI OK-OKLAHOMA 8,613.33
SUI PA-PENNSYLVANIA 12,500.00
TOTAL 21,113.33
__________
TAXABLE
WAGES
SIT OK-OKLAHOMA 8,613.33
SIT PA-PENNSYLVANIA 12,500.00
TOTAL 21,113.33
EMPLOYEE CENSUS ACTIVE EMPS 8 NET PAY ANALYSIS
TERM EMPS 7
TOTAL EMPS 15
<PAGE>
<PAGE>
084 PAY
02/28/98 2-02/27/98 04 5
REPORT DATE CHECKS DATED PERIOD PAGE NO.
_________________________________________________________________
PC DESCRIPTION HOURS EARNINGS
TOTAL 21,113.33
________________________________________________________________
PC DESCRIPTION HOURS EARNINGS
TOTAL 134,053.66
5 OVERTIME 1.5 25.99
9C ON CALL 400.00
TOTAL 69.50 134,053.66
_________________________________________________________________
TOTAL 500.00
TOTAL 3,772.76
_________________________________________________________________
LOCAL SDI/UC DEDUCTION NET
500.00 13861.05
3772.76 90254.17
_________________________________________________________________
- -----------------------------LIABILITIES-------------------------
LIMIT WAGES TO LIMIT RATE AMOUNT
68400 21,113.33 6.20 % 1,309.03 SSEC
UNLIM 21,113.33 1.45 % 306.14 MDCR
7.65 % 1,615.17
7000 5,425.83 .80 % 43.41
11400 8,613.33 .825% 71.06
8000 .00 .00 % .00
71.06
<PAGE>
- ---------------------STATE/LOCAL TAXES WITHHELD------------------
RATE AMOUNT
426.45
350.00
776.45
# DEP ADV 7 EFTS TOTAL 13,861.05
# EMPS PAID 7 TOTAL NET 13,861.05 *
TOTAL TAXES 8,481.92 **
22,342.97 ***
_________________________________________________________________
<PAGE>
<PAGE>
PAYROLL REGISTER
E70 AMETECH, INC.
NO. CO. NAME
_________________________________________________________________
EMPLOYEE ID EMPLOYEE NAME ......HOURS AND EARNINGS.....
PC
DESCRIPTION HOURS AMOUNT
_________________________________________________________________
0-1399-08350 BAZE JOHN -----------Q-TO-D------------
941 BRADLEY 3287.50
OKLA CITY OK 73127 -----------Y-TO-D------------
1 REGULAR 2887.50
SS-NO ###-##-#### FRQ S STAT T 9C ON CALL 400.00
BASE 1443.75 M/S M SEX M
HIRE 02/24/92 FTC 04 FADJ $010
TERM 01/31/98 STC 04 SADJ $002
ST1 OK
PEN N
_________________________________________________________________
0-9500-11600 BROWN SCOTT N 1 REGULAR 1875.00
1931 E. ENSEY -------------Q-TO-D----------
MUSTANG, OK 73064 7500.00
-------------Y-TO-D----------
SS-N0 ###-##-#### FRQ S STAT A 1 REGULAR 7500.00
BASE 1875.00 M/S M SEX M
HIRE 10/20/97 FTC 00
STC 00
ST1 OK
PEN N
EFT-ACCOUNT# ID BK TP TRANSIT-NO
1414073862 A MC C 3030-8799-5
_________________________________________________________________
0-9500-16800 D'APPOLONIA MICHAEL R 1 REGULAR 12500.00
756 FAIRVIEW ROAD -------------Q-TO-D----------
PITTSBURGH, PA 15238 50000.00
-------------Y-TO-D----------
SS-N0 ###-##-#### FRQ S STAT A 1 REGULAR 50000.00
BASE 12,500 M/S M SEX M
HIRE 10/03/97 FTC 09
STC 09
ST1 PA
PEN N
EFT-ACCOUNT# ID BK TP TRANSIT-NO
3017107 A ME C 0430-0026-1
_________________________________________________________________
0-9500-27920 FINLEY MARGARET 1 REGULAR 1366.33
9836 CREST DRIVE -------------Q-TO-D----------
MIDWEST CITY OK 5465.32
73130 -------------Y-TO-D----------
SS-N0 ###-##-#### FRQ S STAT A 1 REGULAR 5465.32
BASE 1366.33 M/S S SEX F
HIRE 06/09/92 FTC 02
STC 02
ST1 OK
EFT-ACCOUNT# ID BK TP TRANSIT-NO
5485762 B LA S 1030-00019-8
<PAGE>
<PAGE>
084 PAY
02/15/98 S-02/13/98 03 1
REPORT DATE CHECKS DATED PERIOD PAGE NO.
_________________________________________________________________
....DED AND ADJ......... .........GROSS TO NET.........
DESCR AMOUNT CODES Y-TO-D TYPE CURRENT CHECK #
_________________________________________________________________
- ----- BAL/LMT ------- 3287.50 GRCOMP .00
EXPRC 800.00 BAL 3287.50 GRPAY .00
3725.00 LMT 203.83 SSEC .00
- -------Y-TO-D-------- 47.67 MDCR .00
EXPRC 200.00 297.50 FIT .00
MED2 244.00 146.76 ST1 OK .00
444.00 TOTED .00
2147.74 NET .00
QTD WEEKS WORKED 2.17
_________________________________________________________________
EFTAB 7500.00 GRCOMP 1875.00
7500.00 GRPAY 1875.00
465.00 SSEC 116.25
108.75 MDCR 27.19
963.76 FIT 240.94
382.64 ST1 OK 95.66
5579.85 NET 1394.96 A337
EFT A 1394.96
QTD WEEKS WORKED 6.51
_________________________________________________________________
EFTAB 50000.00 GRCOMP 12500.00
50000.00 GRPAY 12500.00
3100.00 SSEC 775.00
725.00 MDCR 181.25
13549.32 FIT 3387.33
1400.00 ST1 PA 350.00
31225.68 NET 7806.42 A338
EFT A 7806.42
QTD WEEKS WORKED 6.51
_________________________________________________________________
MED2 122.00 005* 5465.32 GRCOMP 1366.33
EFTB1 75.00 5465.32 GRPAY 1366.33
EFTC2 25.00 338.85 SSEC 84.71
EFTAB 79.25 MDCR 19.81
- --------Y-TO-D--------- 629.20 FIT 157.30
MED2 488.00 270.08 ST1 OK 67.52
488.00 TOTDED 122.00
3659.94 NET 914.99 A339
EFT B 75.00
EFT C 25.00
EFT A 814.99
QTD WEEKS WORKED 6.51
_________________________________________________________________
<PAGE>
PAYROLL REGISTER
E70 AMETECH, INC.
NO. CO. NAME
_________________________________________________________________
EMPLOYEE ID EMPLOYEE NAME ....HOURS AND EARNINGS....
PC
DESCRIPTION HOURS AMOUNT
0-9500-37990 HUGHES DIANA L
- -----CONTINUED-------
4273664 B WD S 3030-8563-8
24468084 A TB C 3030-8582-9
_________________________________________________________________
0-1399-38300 JAMES MELVEN D. 1 REGULAR 1662.50
RT. 1, BOX 247 -----------Q-TO-D-------------
S. COFFEYVILLE, OK 6650.00
74072
-----------Y-TO-D-------------
1 REGULAR 6650.00
SS-NO ###-##-#### FRQ S STAT A
BASE 1662.50 M/S M SEX M
HIRE 07/21/97 FTC 02
ST1 OK
PEN N
EFT-ACCOUNT# ID BK TP TRANSIT-NO
4055003541 A BM C 1030-0363-2
_________________________________________________________________
0-9500-74420 LAYMAN CHRISTIE R -------------Q-TO-D----------
218 E. DOUGLAS DR. 1000.00
MIDWEST CITY OK -------------Y-TO-D----------
73110 1 REGULAR 1000.00
SS-N0 ###-##-#### FRQ S STAT T
BASE 1000.00 M/S S SEX F
HIRE 08/14/89 FTC 00 FADJ $010
TERM 01/15/98 STC 00 SADJ $010
ST1 OK
_________________________________________________________________
0-1301-53210 LONGORIA BLANCA 1 REGULAR 1001.00
5225 COBLE -------------Q-TO-D----------
OKLA CITY, OK 73135 4076.19
-------------Y-TO-D----------
SS-N0 ###-##-#### FRQ S STAT A 1 REGULAR 4004.00
BASE 1001.00 M/S S SEX F 5 OVERTIME 1.5 25.99
HIRE 07/24/89 FTC 03 6 STRAIGHT
STC 03 TIME 4.0 46.20
ST1 OK
EFT-ACCOUNT# ID BK TP TRANSIT-NO
0001451946 B TB S 3030-8582-9
14519464 A TB C 3030-8582-9
_________________________________________________________________
0-9500-17968 NELSON MARILYN J 1 REGULAR 1433.34
9917 TRAFALGAR DR -------------Q-TO-D----------
OKLA CITY OK 73139 5733.36
-------------Y-TO-D----------
SS-N0 ###-##-#### FRQ S STAT A 1 REGULAR 5733.36
BASE 1433.34 M/S M SEX F
HIRE 06/01/97 FTC 02
STC 02
ST1 OK
_________________________________________________________________
<PAGE>
<PAGE>
084 PAY
02/25/98 S-02/13/98 03 3
REPORT DATE CHECKS DATED PERIOD PAGE NO.
_________________________________________________________________
....DED AND ADJ......... .........GROSS TO NET.........
DESCR AMOUNT CODES Y-TO-D TYPE CURRENT CHECK #
_________________________________________________________________
MED 2 122.00 005* 6650.00 GRCOMP 1662.50
EFTAB 6650.00 GRPAY 1662.50
- --------Y TO DATE------ 412.30 SSEC 103.07
MED2 488.00 96.43 MDCR 24.11
701.24 FIT 175.31
306.48 ST1 OK 76.62
488.00 TOTDED 122.00
4645.55 NET 1161.39 A335
EFT A 1161.39
QTD WEEKS WORKED 6.51
_________________________________________________________________
1000.00 GRCOMP .00
1000.00 GRPAY .00
62.00 SSEC .00
14.50 MDCR .00
143.44 FIT .00
56.78 ST1 OK .00
723.28 NET .00
QTD WEEKS WORKED 2.17
_________________________________________________________________
MED2 122.00 005* 4076.19 GRCOMP 1001.00
EFTB1 225.00 4076.19 GRPAY 1001.00
EFTAB 252.72 SSEC 62.06
- --------Y-TO-D--------- 59.10 MDCR 14.51
MED2 488.00 342.67 FIT 82.96
163.45 ST1 OK 39.60
488.00 TOTDED 122.00
2770.25 NET 679.87 A334
EFT B 225.00
EFT A 454.87
QTD WEEKS WORKED 6.51
_________________________________________________________________
EFTB1 100.00 5733.36 GRCOMP 1433.34
EFTAB 100.00 5733.36 GRPAY 1433.34
355.47 SSEC 88.87
83.13 MDCR 20.78
563.76 FIT 140.94
242.32 ST1 OK 60.58
4488.68 NET 1122.17 A342
EFT B 100.00
EFT A 1022.17
<PAGE>
<PAGE>
PAYROLL REGISTER
GRAND TOTALS
E70 AMETECH, INC.
NO. CO. NAME
_________________________________________________________________
_________________________________________________________________
HOURS/EARNS PC DESCRIPTION HOURS EARNINGS
CURRENT 1 REGULAR 26,255.17
_________________________________________________________________
HOURS/EARNS PC DESCRIPTION HOURS EARNINGS
Q-TO-D 112,940.33
Y-TO-D 1 REGULAR 111,508.18
6 STRAIGHT TIME 68.00 1,006.16
_________________________________________________________________
DEDUCTION TO NET
CURRENT MED2 658.50
YTD EXPRC 200.00 MED2 3,072.76
_________________________________________________________________
GROSS TO NET WAGES SOCSEC FEDERAL STATE
MEDICR
CUR GRPAY 26255.17 1627.82 4989.65 904.59 TOT
GRCOMP 26255.17 380.69 554.59 OK
350.00 PA
YTD GRPAY 112940.33 7002.31 20807.56 3826.95 TOT
GRCOMP 112940.33 1637.63 2426.95 OK
1400.00 PA
_________________________________________________________________
CURRENT TAX RECAP 0 VOID/MANUAL CHECKS INCLUDED
__________
FORM 8109 FEDERAL DEPOSIT TYPE JURISDICTION TAXABLE
WAGES
EMPLOYEE SSEC 1,627.82
EMPLOYEE MDCR 380.69
EMPLOYER SSEC 1,627.82 26,255.17
EMPLOYER MDCR 380.70 26,255.17
EMPLOYEE FIT 4,989.65
TOTAL DEPOSIT 9,006.68
FUTA STANDARD RATE 26,255.17
SUI OK-OKLAHOMA 11,380.17
SUI PA-PENNSYLVANIA 12,500.00
SUI TN-TENNESSEE 2,375.00
TOTAL 26,255.17
__________
TAXABLE
WAGES
SIT OK-OKLAHOMA 11,380.17
SIT PA-PENNSYLVANIA 12,500.00
SIT TN-TENNESSEE 2,375.00
TOTAL 26,255.17
EMPLOYEE CENSUS ACTIVE EMPS 10 NET PAY ANALYSIS
TERM EMPS 5
TOTAL EMPS 15
<PAGE>
<PAGE>
084 PAY
02/15/98 S-02/13/98 03 5
REPORT DATE CHECKS DATED PERIOD PAGE NO.
_________________________________________________________________
PC DESCRIPTION HOURS EARNINGS
TOTAL 26,255.17
_________________________________________________________________
PC DESCRIPTION HOURS EARNINGS
TOTAL 112.940.33
5 OVERTIME 1.5 25.99
9C ON CALL 400.00
TOTAL 69.50 112,940.33
_________________________________________________________________
TOTAL 658.50
TOTAL 3,272.76
_________________________________________________________________
LOCAL SDI/UC DEDUCTION NET
658.50 17693.92
3272.76 76393.12
_________________________________________________________________
- -----------------------------LIABILITIES-------------------------
LIMIT WAGES TO LIMIT RATE AMOUNT
68400 26,255.17 6.20 % 1,627.82 SSEC
UNLIM 26,255.17 1.45 % 380.70 MDCR
7.65 % 2,008.52
7000 10,880.17 .80 % 87.04
11400 11,380.17 .825% 93.89
8000 .00 .00 % .00
.00
7000 .00 .00 % 93.89
- ---------------------STATE/LOCAL TAXES WITHHELD------------------
RATE AMOUNT
554.59
350.00
.00
904.59
# DEP ADV 10 EFTS TOTAL 17,693.92
# EMPS PAID 10 TOTAL NET 17,693.92 *
TOTAL TAXES 10,092.20 **
27,786.12 ***
_________________________________________________________________
<PAGE>
<PAGE>
Case Name: Ametech/ETS
Case No.: 98-11018-BH
Chapter 11
Attachment to Cash Receipts & Disbursement Statement
For the Month of February 28,1998
Depository Account
<TABLE>
<CAPTION>
AMETECH, INC. AND SUBSIDIARIES
Depository Account Disbursements
26-Mar-98
Operating
Account Congress
Transfer Financial Total
________________ _______________ ____________
<S> <C> <C> <C>
02-Feb-98 0.00 2,626.67 2,626.67
03-Feb-98 0.00 6,055.50 6,055.50
06-Feb-98 0.00 117,743.39 117,743.39
09-Feb-98 17,000.00 0.00 17,000.00
13-Feb-98 46,000.00 21,263.36 67,263.36
20-Feb-98 15,000.00 43,512.52 58,512.52
27-Feb-98 29,000.00 29,000.00
__________ ___________ __________
107,000.00 191,201.44 298,201.44
</TABLE>
03/26/98 04:10 PM
<PAGE>
<PAGE>
BANK RECONCILIATION
________________________
(EXHIBIT "D")
CASE NAME: Ametech/ETS BANK: Will Rogers
____________________________ _________________
CASE NO.: 98-11018-BH MONTH OF: February 1998
____________________________ __________________
Balance per bank statement
dated February 28, 1998 (1) 48,118.93
_________________ ____________
Add:
Deposits in transit _________________
_________________
_________________
_________________
Total in transit (2)_____________
Total (1) + (2) 48,118,.93
=============
Less: 14,293.48
Checks outstanding __________________
__________________
__________________
__________________
Total outstanding (3) 14,293.48
_____________
Bank balance - reconciled (1) + (2) - (3) 33,825.45
==============
(Will equal ending checkbook balance reported on
Receipts and Disbursements Statement)
CHECKS OUTSTANDING
__________________
Number Amount
_________________________________________________________________
Number Amount Number Amount
____________________________________
See Attached
_____________________________________________
_____________________________________________
_____________________________________________
_____________________________________________
_____________________________________________
______________________________________________
______________________________________________
______________________________________________
______________________________________________
______________________________________________
Total
______________________________________________
USE ONE FORM FOR EACH BANK ACCOUNT
ATTACH A COPY OF THE BANK STATEMENT TO THIS FORM
Rev. 6/93
<PAGE>
<PAGE>
05389
Direct Inquiries to: WILL ROGERS BANK _____
405 949-6500
_____
Will Rogers Bank _____
5100 N W 10th _____
Oklahoma City OK 73127-5708
February 28, 1998
ENVIRONMENTAL TRANSPORTATION (24)
SERVICE INC - GENERAL ACCOUNT Page 1 of 2
DEBTOR IN POSSESSION
1813 SE 25TH
OKLAHOMA CITY OK 73129
Statement of Account
0003625702
What Works Like A Check, Only Better? It'S Your Will Rogers
Bank Check Card. The Card That Pays For Purchases Right
From Your Checking Account. To Apply For Yours, Stop By OR
Call 949-6500 Today.
<TABLE>
<CAPTION>
Business Check Aas 0003625702
_________________________________________________________________
Low balance $-1,440.13
Average balance $29,113.06 Avg collected balance $29,113.00
24 Enclosures
<S> <C> <C> <C> <C>
Date Description Additions Subtractions Balance
02-06 Beginning balance $0.00
_________________________________________________________________
02-06 Check -1,440.13 -1,440.13
_________________________________________________________________
02-09 #Telephone Transfer 17,000.00 15,559.87
_________________________________________________________________
02-10 Check -3,506.67 12,053.20
_________________________________________________________________
02-11 Deposit 8,913.87 20,967.07
_________________________________________________________________
02-11 #Telephone Transfer -10,100.00 10,867.07
_________________________________________________________________
02-13 #Telephone Transfer 46,000.00 56,867.07
_________________________________________________________________
02-13 Check 2001 -526.50 56,340.57
_________________________________________________________________
02-13 #Telephone Transfer -18,000.00 38,340.57
_________________________________________________________________
02-17 Check 2003 -388.27 37,952.30
_________________________________________________________________
02-17 Check 2004 -370.00 37,582.30
_________________________________________________________________
02-18 #Preauthorized Wd -59.05 37,523.25
DELUXE CHECK CHECK/ACC.
980218
_________________________________________________________________
02-19 Check 2000 -114.81 37,408.44
_________________________________________________________________
02-20 #Telephone Transfer 15,000.00 52,408.44
_________________________________________________________________
02-20 Check 2014 -520.00 51,888.44
_________________________________________________________________
02-20 Check 2015 -520.00 51,368.44
_________________________________________________________________
02-20 Check 2002 -526.50 50,841.94
_________________________________________________________________
02-20 Check 2013 -333.00 50,508.94
_________________________________________________________________
02-23 Check 2009 -1,263.08 49,245.86
_________________________________________________________________
</TABLE>
<PAGE>
<PAGE>
<TABLE>
<CAPTION>
Number Date Amount
<S> <C> <C>
0 02-06 1,440.13
____________________________________________
0 02-10 3,506.67
____________________________________________
2000 02-19 114.81
____________________________________________
2001 02-13 526.50
____________________________________________
2002 02-20 526.50
____________________________________________
2003 02-17 388.27
____________________________________________
2004 02-17 370.00
____________________________________________
2005 02-24 302.96
____________________________________________
2006 02-24 714.86
____________________________________________
2007 02-24 75.51
____________________________________________
2008 02-23 158.42
____________________________________________
2009 02-23 1,263.08
____________________________________________
2010 02-24 780.54
____________________________________________
2011 02-25 1,316.78
____________________________________________
2012 02-25 2,056.51
____________________________________________
2013 02-20 333.00
____________________________________________
2014 02-20 520.00
____________________________________________
2015 02-20 520.00
____________________________________________
2016 02-24 612.68
____________________________________________
2020 * 02-26 17.50
____________________________________________
</TABLE>
*Skip in check sequence
<PAGE>
<PAGE>
<TABLE>
<CAPTION>
57 MISSING CHECK LISTING PAGE 1 20 Mar 1998
FOR MONTH END DATE 02/28/98
COMPANY SYSTEM CHECK CHECK....RECON CHECK.....ISSUED CHK AMOUNT
MONTH DATE MONTH NUMBER TO...
<S> <C> <C> <C> <C> <C> <C> <C>
03 AP 02 02/24/98 2029 7806 507.75
*** 507.75
03 AP 02 02/24/98 03 0219 10462 306.00
03 AP 02 02/24/98 03 2017 9869 150.00
03 AP 02 02/24/98 03 2018 10237 64.99
03 AP 02 02/24/98 03 2021 10395 3,636.56
03 AP 02 02/24/98 03 2022 7115 133.60
03 AP 02 02/24/98 03 2024 7247 113.66
03 AP 02 02/24/98 03 2027 7334 328.59
03 AP 02 02/24/98 03 2028 7806 774.25
03 AP 02 02/26/98 03 2030 10473 542.00
03 AP 02 02/26/98 03 2031 7937 4,368.00
03 AP 02 02/27/98 03 2032 10421 2,120.56
03 AP 02 02/27/98 03 2035 10383 370.00
03 AP 02 02/27/98 03 2036 8936 462.00
03 AP 02 02/27/98 03 2037 8924 312.00
03 AP 02 02/24/98 03 M2023 9869 54.52
03 AP 02 02/24/98 03 M2025 10371 49.00
*** 13,785.73
*** 14,293.48
*** 14,293.48
*** 14,293.48
14,293.48
</TABLE>
17 records listed
<PAGE>
<PAGE>
<TABLE>
<CAPTION>
REC AMOUNT..........OUT.BALANCE.........VOID......VOID......TYPE
AMOUNT....DATE......
<S> <C> <C> <C> <C>
507.75 DC
0.00 507.75 0.00
306.00 0.00 DC
150.00 0.00 DC
64.99 0.00 DC
3,636.56 0.00 DC
133.60 0.00 DC
113.66 0.00 DC
328.59 0.00 DC
774.25 0.00 DC
542.00 0.00 DC
4,368.00 0.00 DC
2,120.56 0.00 DC
370.00 0.00 DC
462.00 0.00 DC
312.00 0.00 DC
54.52 0.00 M
49.00 0.00 M
13,785.73 0.00 0.00
13,785.73 507.75 0.00
13,785.73 507.75 0.00
13,785.73 507.75 0.00
13,785.73 507.75 0.00
</TABLE>
<PAGE>
<PAGE>
BANK RECONCILIATION
______________________
(EXHIBIT "D")
CASE NAME: Ametech/ETS BANK: Will Rogers
___________________________________ ______________
CASE NO.: 98-11018-BH MONTH OF: February 1998
________________ ___________________
Balance per bank statement
dated February 28, 1998 (1) 14,692.51
____________ __________
Add:
Deposits in transit _________________
_________________
_________________
_________________
Total in transit (2)_____________
Total (1) + (2) 14,692.51
============
Less:
Checks outstanding 13,861.05
__________________
__________________
__________________
__________________
Bank balance-reconciled Total outstanding (3) 13,861.05
(1) + (2) - (3) 831.46
============
(Equals ending checkbook balance reported on Receipts and
Disbursements Statement)
CHECKS OUTSTANDING
___________________
Number Amount
_________________________________________________________________
Number Amount Number Amount
___________________________________________
See Attached
___________________________________________
___________________________________________
___________________________________________
___________________________________________
___________________________________________
___________________________________________
___________________________________________
___________________________________________
___________________________________________
___________________________________________
Total
____________________________________________
USE ONE FORM FOR EACH BANK ACCOUNT
ATTACH A COPY OF THE BANK STATEMENT TO THIS FORM
Rev. 6/93
<PAGE>
<PAGE>
01318
Direct Inquiries to: WILL ROGERS BANK
405 949-6500 _______
_______
_______
Will Rogers Bank
5100 N W 10th
Oklahoma City OK 73127-5708
February 28, 1998
AMETECH INC. (0)
PAYROLL ACCOUNT Page 1 of 1
DEBTOR IN POSSESSION
1813 SE 25TH
OKLAHOMA CITY OK 73129
Statement of Account
0003625710
What Works Like A Check, Only Better? It'S Your Will Rogers
Bank Check Card. The Card That Pays For Purchases Right
From Your Checking Account. To Apply For Yours, Stop By OR
Call 949-6500 Today.
Business Checking 0003625710
_________________________________________________________________
Low Balance $7.80
Average Balance $5,746.06 Average collected balance $5,746.00
<TABLE>
<CAPTION>
<S> <C> <C> <C> <C>
Date Description Additions Subtractions Balance
02-11 Beginning balance $0.00
_________________________________________________________________
02-11 #Telephone Transfer 10,100.00 10,100.00
_________________________________________________________________
02-12 #Preauthorized Wd -10,092.20 7.80
CERIDIAN AKA CDC P/R TAXES
980212 06807-01471835
_________________________________________________________________
02-13 #Telephone Transfer 18,000.00 18,007.80
_________________________________________________________________
02-13 #Preauthorized Wd -17,693.92 313.88
AMETECH, INC PAYROLL
980213 E70 01
_________________________________________________________________
02-20 #Preauthorized Wd -139.45 174.43
CERIDIAN AKA CDC P/R TAXES
980220 06807-014789963
_________________________________________________________________
02-24 #Telephone Transfer 23,000.00 23,174.43
_________________________________________________________________
02-26 #Preauthorized Wd -8,481.92 14,692.51
CERIDIAN AKA CDC P/R TAXES
980226 06807-014809016
_________________________________________________________________
02-28 Ending totals 51,100.00 -36,407.49 $14,692.51
_________________________________________________________________
</TABLE>
<PAGE>
<PAGE>
BANK RECONCILIATION
____________________
(EXHIBIT "D")
CASE NAME: Ametech/ETS BANK: Will Rogers
________________________ _____________
CASE NO.: 98-11018-BH MONTH OF: February 1998
________________________ _____________
Balance per bank statement (1) 23,221.99
dated February 28, 1998 _________
___________
Add:
Deposits in transit ___________________
___________________
___________________
___________________
Total in transit (2) ___________
Total (1) + (2) 23,221.99
==========
Less:
Checks outstanding ___________________
___________________
___________________
___________________
Total outstanding (3) ___________
Bank balance - reconciled (1) + (2) - (3) 23,221.99
(Equals ending checkbook balance reported ===========
on Receipts and Disbursement Statement)
CHECKS OUTSTANDING
__________________
Number Amount
_________________________________________________________________
Number Amount Number Amount
____________________________________________
____________________________________________
____________________________________________
____________________________________________
____________________________________________
____________________________________________
____________________________________________
___________________________________________
___________________________________________
___________________________________________
Total
___________________________________________
USE ONE FORM FOR EACH BANK ACCOUNT
ATTACH A COPY OF THE BANK STATEMENT TO THIS FORM
Rev. 6/93
<PAGE>
<PAGE>
05097
Direct Inquiries to: WILL ROGERS BANK ______
405 949-6500
_______
_______
_______
Will Rogers Bank
5100 N W 10th
Oklahoma City OK 73127-5708
February 28, 1998
ENVIRONMENTAL TRANSPORTATION (19)
SERVICES INC Page 1 of 2
LOCK BOX
1813 SE 25TH
OKLAHOMA CITY OK 73129
Statement of Account
0003614409
What Works Like A Check, Only Better? It'S Your Will
Rogers Bank Check Card. The Card That Pays For
Purchases Right From Your Checking Account. To Apply
For Yours, Stop By OR Call 949-6500 Today.
Business Checking Aas 0003614409
_________________________________________________________________
Low balance $8,682.17
Average balance $57,824.23 Average collected balance $44,196.00
19 Enclosures
<TABLE>
<CAPTION>
Date Description Additions Subtractions Balance
<S> <C> <C> <C> <C>
01-31 Beginning balance $8,682.17
_________________________________________________________________
02-02 Deposit 69,392.49 78,074.66
_________________________________________________________________
02-02 #Wire Transfer-Out -2,626.67 75,447.99
TO CHASE NYC
CONGRESS FINANCIAL CORP
_________________________________________________________________
02-03 Deposit 85,121.06 160,569.05
_________________________________________________________________
02-03 #Wire Transfer-Out -6,055.50 154,513.55
TO CHASE NYC
CONGRESS FINANCIAL CORP
_________________________________________________________________
02-04 Deposit 670.17 155,183.72
_________________________________________________________________
02-04 Deposit 160.87 155,344.59
_________________________________________________________________
02-05 Deposit 1,813.80 157,158.39
_________________________________________________________________
02-05 Deposit 1,250.00 158,408.39
_________________________________________________________________
02-06 Deposit 1,335.00 159,743.39
_________________________________________________________________
02-06 #Wire Transfer-Out -117,743.39 42,000.00
TO CHASE NYC
CONGRESS FINANCIAL CORP
_________________________________________________________________
02-09 Deposit 37,011.36 79,011.36
_________________________________________________________________
02-09 Deposit 171.13 79,182.49
_________________________________________________________________
02-09 #Telephone Transfer -17,000.00 62,182.49
_________________________________________________________________
02-10 Deposit 3,334.55 65,517.04
_________________________________________________________________
</TABLE>
<PAGE>
<PAGE>
Case Name: Ametech/ETS
Case No.: 98-11018 BH
<TABLE>
<CAPTION>
AMETECH, INC. AND SUBSIDIARIES
CONSOLIDATED BALANCE SHEET
FEBRUARY 28,1998
(in thousands)
ASSETS
______
<S> <C> <C>
CURRENT ASSETS:
Cash and cash equivalents $57,879
Certificate of Deposits $23,010
Accounts Receivable
Trade $795,592
Reserve (11,791)
____________
$783,318
N/R Current $119,318
Prepaid Professional Fees $84,570
Deposits $10,138
Inventory $91,786
Other $10,961
__________
Total Current Assets $1,181,463
PROPERTY AND EQUIPMENT:
Transportation Equipment $2,942,896
Buildings and other 593,326
______________
$3,536,222
OTHER ASSETS, net: $100,000
TOTAL ASSETS $4,817,685
=========
LIABILITIES AND STOCKHOLDERS' EQUITY
_____________________________________
Post-Petition
Current Liabilities
Accounts Payable $1,059
__________
$1,059
Pre-petition
Accounts Payable $1,099,196
Secured Claims $4,237,836
Deferred Income taxes $227,555
__________ $5,565,646
Stockholders Equity ($749,020)
___________
TOTAL LIABILITIES & EQUITY $4,817,685
===========
</TABLE>
03/26/98 09:50 PM
<PAGE>
<PAGE>
<TABLE>
<CAPTION>
SUMMARIZED ACCOUNTS RECEIVABLE AGING ANALYSIS PAGE 1
AGED BY INVOICE DATE
20 MAR 1998
AGING THROUGH: 02/28/98
CUSTOMER CUSTOMER INVOICE CURRENT CURRENT
REFERENCE NAME AMOUNT BALANCE AMOUNT
_________ _______________________ __________ __________ ________
<S> <C> <C> <C> <C>
20151 AAD DISPOSAL 15283.50 14783.50 0.00
20563 ALL VALLEY OIL 6775.00 4775.00 0.00
10036 ASHLAND CHEMICAL 116.60 116.60 0.00
20565 AZTEC RECLAMATION & REC 1040.25 1040.25 0.00
19526 C P S CHEMICAL CO., INC 1240.00 1240.00 0.00
43800 CHEM MET SERVICES 18925.40 18525.40 0.00
35949 CHEMICAL WASTE MGMT 128.60 128.60 0.00
18162 CLEAN HSARBORS 2628.39 1004.61 0.00
18605 CLEAN HARBORS 17386.45 13954.95 0.00
19970 CONOCO, INC. 5413.10 5413.10 0.00
12640 CMM RESOURCE MGMT 925.00 925.00 0.00
22143 D&D ROOFING 605.16 605.16 0.00
22181 ENERCON 130.05 130.05 0.00
14633 ENSCO 1856.25 -0.01 0.00
14678 ENSCO 2008.80 -2008.80 0.00
17135 ENSCO 6982.80 6322.80 0.00
12410 ENVIRONMENTAL 578.00 578.00 0.00
</TABLE>
<PAGE>
<PAGE>
<TABLE>
<CAPTION>
1-30 31-60 61-90 OVER 90
DAYS DAYS DAYS DAYS
OLD OLD OLD OLD
___________ _________ _________ __________
<S> <C> <C> <C>
0.00 0.00 0.00 14783.50
0.00 0.00 0.00 4775.00
0.00 116.60 0.00 0.00
0.00 0.00 0.00 1040.25
620.00 620.00 0.00 0.00
10.65 330.15 430.00 17754.60
-200.00 328.60 0.00 0.00
0.00 866.50 950.00 -811.89
-23.00 0.00 2880.00 11097.95
5413.10 0.00 0.00 0.00
0.00 925.00 0.00 0.00
0.00 130.05 50.00 425.11
130.05 0.00 0.00 0.00
0.00 0.00 0.00 -0.01
0.00 0.00 0.00 -2008.80
0.00 0.00 0.00 6322.80
0.00 578.00 0.00 0.00
</TABLE>
<PAGE>
<PAGE>
<TABLE>
<CAPTION>
AR770 SUMMARIZED ACCOUNTS RECEIVABLE AGING ANALYSIS PAGE 2
AGED BY INVOICE DATE
20 MAR 1998
FOR COMPANY: ENVIRONMENTAL TRANSPORTATION
AGING THROUGH: 02/28/98
CUSTOMER CUSTOMER INVOICE CURRENT CURRENT
REFERENCE NAME AMOUNT BALANCE AMOUNT
_________ _______________________ __________ __________ ________
<S> <C> <C> <C> <C>
14872 ENVIRONMENTAL OPTIONS 6984.85 1984.85 0.00
12548 ENVIRONMENTAL REMEDIATION 564.45 564.45 0.00
20558 ENVIRONMENTAL SERVICES 1654.82 1654.82 0.00
56493 ESSEX WASTE MANAGEMENT 124551.35 117876.70 0.00
13708 EXCEL TSD INC 931.25 931.25 0.00
19429 FARMLAND INDUSTRIES, INC 923.12 923.12 0.00
19108 FERGUSON ENVIRONMENTAL 270.94 270.94 0.00
20217 GARRISON INDUSTRIES,INC 2982.50 2900.00 0.00
15286 HEPACO INC 1456.75 1456.75 0.00
11589 INDUSTRIAL WATER SERVICE 87492.40 86076.74 0.00
12231 INTERSOL 318729.79 318729.79 0.00
20568 JTL ENVIRONMENTAL REMED 11078.88 11078.88 0.00
13020 LWD INC 800.00 800.00 0.00
15131 LAIDLAW 800.00 800.00 0.00
10221 LAIDLAW ENVIRONMENTAL 900.00 900.00 0.00
10336 LAIDLAW ENVIRONMENTAL 7999.86 7999.86 0.00
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
1-30 31-60 61-90 OVER 90
DAYS DAYS DAYS DAYS
OLD OLD OLD OLD
___________ _________ _________ __________
<S> <C> <C> <C>
-7035.25 971.85 2676.00 5372.25
234.30 330.15 0.00 0.00
0.00 0.00 0.00 1654.82
0.00 0.00 -123.75 118000.45
0.00 0.00 0.00 931.25
923.12 0.00 0.00 0.00
0.00 0.00 270.94 0.00
0.00 0.00 0.00 2900.00
221.12 1677.87 0.00 0.00
1980.90 1980.90 11568.30 70546.64
- -11024.16 34845.96 75504.00 219403.99
0.00 0.00 0.00 11078.88
490.00 310.00 0.00 0.00
0.00 800.00 0.00 0.00
0.00 0.00 0.00 900.00
6679.79 1320.07 0.00 0.00
</TABLE>
<PAGE>
<PAGE>
<TABLE>
<CAPTION>
AR770 SUMMARIZED ACCOUNTS RECEIVABLE AGING ANALYSIS PAGE 3
AGED BY INVOICE DATE
20 MAR 1998
FOR COMPANY: ENVIRONMENTAL TRANSPORTATION
AGING THROUGH: 02/28/98
CUSTOMER CUSTOMER INVOICE CURRENT CURRENT
REFERENCE NAME AMOUNT BALANCE AMOUNT
_________ _______________________ __________ __________ ________
<S> <C> <C> <C> <C>
12202 LAIDLAW ENVIRONMENTAL 4424.05 4424.05 0.00
21701 LAIDLAW ENVIRONMENTAL 181.75 -181.75 0.00
22184 LAIDLAW ENVIRONMENTAL 1970.15 1970.15 0.00
42047 LAIDLAW ENVIRONMENTAL 16405.64 16405.64 0.00
47893 LAIDLAW ENVIRONMENTAL 910.00 -1587.71 0.00
18664 LIBERTY INVESTMENT 8184.87 8184.87 0.00
19529 MARINE SHALE PROCESSORS 1865.07 1074.07 0.00
19418 METROPOLITAN RESEARCH & 6354.50 2983.50 0.00
20165 MODESTO ENERGY LTD 3060.00 3060.00 0.00
14912 MONTGOMERY TANK LINES 162.38 162.38 0.00
60509 PETRO CLEAN 2754.41 2754.41 0.00
13492 PHILIP SERVICES CORP -1013.77 -1013.77 0.00
18044 PHILIP SERVICES CORP 19279.01 20554.17 0.00
19003 PHILIP SERVICES CORP 851.90 851.90 0.00
14676 PLANTATION PIPELINE 647.90 647.90 0.00
15039 REICHHOLD CHEMICALS INC 250.00 250.00 0.00
</TABLE>
<PAGE>
<PAGE>
<TABLE>
<CAPTION>
1-30 31-60 61-90 OVER 90
DAYS DAYS DAYS DAYS
OLD OLD OLD OLD
___________ _________ _________ __________
<S> <C> <C> <C>
0.00 0.00 0.00 4424.05
0.00 0.00 0.00 -181.75
671.15 1299.00 0.00 0.00
5471.35 0.00 2440.00 8494.29
0.00 0.00 0.00 -1587.71
0.00 0.00 0.00 8184.87
-11.00 -11.00 -12.00 1108.07
0.00 0.00 0.00 2983.50
1200.00 1860.00 0.00 0.00
162.38 0.00 0.00 0.00
0.00 0.00 0.00 2754.41
454.62 0.00 0.00 -1468.39
14900.15 -314.54 0.00 5968.56
0.00 0.00 0.00 851.90
323.95 323.95 0.00 0.00
0.00 0.00 250.00 0.00
</TABLE>
<PAGE>
<PAGE>
<TABLE>
<CAPTION>
AR770 SUMMARIZED ACCOUNTS RECEIVABLE AGING ANALYSIS PAGE 4
AGED BY INVOICE DATE
20 MAR 1998
FOR COMPANY: ENVIRONMENTAL TRANSPORTATION
AGING THROUGH: 02/28/98
CUSTOMER CUSTOMER INVOICE CURRENT CURRENT
REFERENCE NAME AMOUNT BALANCE AMOUNT
_________ _______________________ __________ __________ ________
<S> <C> <C> <C> <C>
20409 RESOURCE RECOVERY 2116.80 2116.80 0.00
59382 RINECO 11560.80 11560.81 0.00
19855 SAFETY KLEEN 2294.91 -681.96 0.00
20772 SAMEX ENVIRONMENTAL 7750.00 7750.00 0.00
20196 SISTEMAS ECOLOGICOS 2200.00 94.48 0.00
11370 SOLVAY POLYMERS 310.00 310.00 0.00
12026 TRI STATE GOVT. SERVICES 2430.00 2430.00 0.00
21536 U S ECOLOGY 51196.70 51196.70 0.00
22017 USA WASTE 355.52 355.52 0.00
16379 VELSICOL CHEMICAL CO 1104.15 1104.15 0.00
17845 VELSICOL CHEMICAL CO 11000.00 11000.00 0.00
12248 WARREN PETROLEUM 930.00 930.00 0.00
15168 WESTINGHOUSE 1314.40 1314.40 0.00
17423 WHELAND FOUNDRY DIVISION 465.47 -205.67 0.00
13752 WHITETAIL SERVICES INC 795.50 795.50 0.00
20105 WORLD ENVIRONMENTAL,INC 16598.75 16598.75 0.00
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
1-30 31-60 61-90 OVER 90
DAYS DAYS DAYS DAYS
OLD OLD OLD OLD
___________ _________ _________ __________
<S> <C> <C> <C>
1004.40 1112.40 0.00 0.00
1125.77 1618.50 1017.00 7799.54
335.58 335.58 0.00 -1353.12
0.00 0.00 0.00 7750.00
0.00 0.00 0.00 94.48
310.00 0.00 0.00 0.00
930.00 0.00 1500.00 0.00
0.00 0.00 0.00 51196.70
-1298.38 650.38 500.00 503.52
671.15 433.00 0.00 0.00
10600.00 0.00 0.00 400.00
930.00 0.00 0.00 0.00
657.20 657.20 0.00 0.00
129.90 -335.57 0.00 0.00
0.00 795.50 0.00 0.00
2013.45 2013.45 1500.00 11071.85
</TABLE>
<PAGE>
<PAGE>
<TABLE>
<CAPTION>
AR770 SUMMARIZED ACCOUNTS RECEIVABLE AGING ANALYSIS PAGE 5
AGED BY INVOICE DATE
20 MAR 1998
FOR COMPANY: ENVIRONMENTAL TRANSPORTATION
AGING THROUGH: 02/28/98
CUSTOMER CUSTOMER INVOICE CURRENT CURRENT
REFERENCE NAME AMOUNT BALANCE AMOUNT
_________ _______________________ __________ __________ ________
<S> <C> <C> <C> <C>
21766 ZHAGRUS ENVIRONMENT INC 1645.00 -1577.50 0.00
*** TOTAL ENVIRONMENTAL 830500.18 788114.15 0.00
TRANSPORTATION
</TABLE>
<PAGE>
<PAGE>
<TABLE>
<CAPTION>
1-30 31-60 61-90 OVER 90
DAYS DAYS DAYS DAYS
OLD OLD OLD OLD
___________ _________ _________ __________
<S> <C> <C> <C>
0.00 0.00 0.00 -1577.50
38560.05 56569.55 101400.49 591584.06
</TABLE>
<PAGE>
<PAGE>
<TABLE>
<CAPTION>
AR770 SUMMARIZED ACCOUNTS RECEIVABLE AGING ANALYSIS PAGE 6
AGED BY INVOICE DATE
20 MAR 1998
FOR COMPANY: AMETECH BOX RENTAL
AGING THROUGH: 02/28/98
CUSTOMER CUSTOMER INVOICE CURRENT CURRENT
REFERENCE NAME AMOUNT BALANCE AMOUNT
_________ _______________________ __________ __________ ________
<S> <C> <C> <C> <C>
*** TOTAL AMETECH BOX RENTAL 0.00 0.00 0.00
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
1-30 31-60 61-90 OVER 90
DAYS DAYS DAYS DAYS
OLD OLD OLD OLD
___________ _________ _________ __________
<S> <C> <C> <C>
0.00 0.00 0.00 0.00
</TABLE>
<PAGE>
<PAGE>
<TABLE>
<CAPTION>
AR770 SUMMARIZED ACCOUNTS RECEIVABLE AGING ANALYSIS PAGE 7
AGED BY INVOICE DATE
20 MAR 1998
FOR COMPANY: BMH MATERIALS, INC.
AGING THROUGH: 02/28/98
CUSTOMER CUSTOMER INVOICE CURRENT CURRENT
REFERENCE NAME AMOUNT BALANCE AMOUNT
_________ _______________________ __________ __________ ________
<S> <C> <C> <C> <C>
17674 ALLWASTE, INC. 210.00 210.00 0.00
19971 DRUM SERVICE CO OF FL 0.00 -410.00 0.00
15240 SECURITY ENVIRONMENTAL 7077.90 7077.90 0.00
*** TOTAL BMH MATERIALS, INC. 7287.90 6877.90 0.00
<PAGE>
<PAGE>
</TABLE>
<TABLE>
<CAPTION>
1-30 31-60 61-90 OVER 90
DAYS DAYS DAYS DAYS
OLD OLD OLD OLD
___________ _________ _________ __________
<S> <S> <S> <S>
0.00 0.00 0.00 210.00
0.00 0.00 0.00 -410.00
0.00 0.00 0.00 7077.90
0.00 0.00 0.00 6877.90
</TABLE>
<PAGE>
<PAGE>
<TABLE>
<CAPTION>
AR770 SUMMARIZED ACCOUNTS RECEIVABLE AGING ANALYSIS PAGE 8
AGED BY INVOICE DATE
20 MAR 1998
FOR COMPANY: CTS,INC.
AGING THROUGH: 02/28/98
CUSTOMER CUSTOMER INVOICE CURRENT CURRENT
REFERENCE NAME AMOUNT BALANCE AMOUNT
_________ _______________________ __________ __________ ________
<S> <C> <C> <C> <C>
*** TOTAL CTS, INC. 0.00 0.00 0.00
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
1-30 31-60 61-90 OVER 90
DAYS DAYS DAYS DAYS
OLD OLD OLD OLD
___________ _________ _________ __________
<S> <C> <C> <C>
0.00 0.00 0.00 0.00
</TABLE>
<PAGE>
<PAGE>
<TABLE>
<CAPTION>
AR770 SUMMARIZED ACCOUNTS RECEIVABLE AGING ANALYSIS PAGE 9
AGED BY INVOICE DATE
20 MAR 1998
AGING THROUGH: 02/28/98
CUSTOMER CUSTOMER INVOICE CURRENT CURRENT
REFERENCE NAME AMOUNT BALANCE AMOUNT
_________ _______________________ __________ __________ ________
<S> <C> <C> <C> <C>
GRAND TOTALS 837788.08 794992.05 0.00
1-30 31-60 61-90 OVER 90
DAYS DAYS DAYS DAYS
OLD OLD OLD OLD
___________ _________ _________ __________
<S> <C> <C> <C>
38560.05 56569.55 101400.49 598461.96
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
AP805 AGING BY VENDOR REPORT
For Company: AMETECH BOX RENTAL
Aging Thru : 02/28/98
For Period End: 02/28/98
Vendor Vendor....... ......... Invoice... Invoice.... Due
Code.. Name................... Number.... Date........ Date
<S> <C> <C> <C> <C>
57101 ADT SECURITY SYSTEMS 41033138 02/10/98 3/12/98
7334 AIRBORNE EXPRESS E1368496 02/20/98 03/22/98
10237 BELLSOUTH 281543.2 02/11/98 03/13/98
47233 BIO STAR INC 88141C 04/18/88 05/18/88
10267 BLACK R K 20921940 02/08/98 03/10/98
7806 CERIDIAN INC 629532RI 02/10/98 03/12/98
55686 HASTIE & STEINHORN 42281C 09/25/91 10/25/91
7791 HAZCO SERVICES 24400200 01/07/92 02/06/92
C
9484 IBM OK/ARK 2813151 02/02/98 03/04/98
7445 LAIDLAW ENV. SVCS. 93101020 12/31/91 01/30/92
(TG), INC 4A
8163 LANIER BUS SYSTEMS INC 41640 02/06/98 03/08/98
8847 NAYLOR PUMP CO INC 29594 05/16/94 06/15/94
7140 OG&E 22098 02/20/98 03/22/98
6987 OKLAHOMA NATURAL GAS 22098 02/20/98 03/22/98
10980 PITNEY BOWES INC 942002 02/16/98 03/18/98
9869 SOUTHWESTERN BELL 6778781. 01/13/98 02/12/98
198
36000 SYSTECH CORPORATION C321409 09/30/92 10/30/92
56384 TRAVEL INC 12631 04/02/92 05/02/92
A56384H BO 12631 04/02/92 05/02/92
</TABLE>
<PAGE>
<PAGE>
PAGE 24 09:19:10am Mar 1998
<TABLE>
<CAPTION>
Balance........0-30......31-60.....61-90....Over 90....Days Past.
Remaining......Balance...Balance...Balance..Balance....Due.......
<S> <C> <C> <C> <C> <C>
60.00 60.00 0.00 0.00 0.00 18
0.00 -183.74 183.74 0.00 0.00 8
64.99 64.99 0.00 0.00 0.00 17
0.00 0.00 0.00 0.00 0.00 3603
246.05 246.05 0.00 0.00 0.00 20
213.50 213.50 0.00 0.00 0.00 18
0.00 0.00 0.00 0.00 0.00 2348
0.00 0.00 0.00 0.00 0.00 2244
159.00 159.00 0.00 0.00 0.00 26
0.00 0.00 0.00 0.00 0.00 2251
45.00 45.00 0.00 0.00 0.00 22
0.00 0.00 0.00 0.00 0.00 1384
0.00 -10.14 10.14 0.00 0.00 8
0.00 -1,263.08 1,263.08 0.00 0.00 8
237.26 237.26 0.00 0.00 0.00 12
33.51 -1,283.27 1,316.78 0.00 0.00 46
0.00 0.00 0.00 0.00 0.00 1977
0.00 0.00 0.00 0.00 0.00 2158
1,059.31 -1,714.43 2,773.74 0.00 0.00 2158
</TABLE>
<PAGE>
<PAGE>
Case Name: Ametech/ETS
Case No. 98-11018-BH
Thu, 26 Mar 1998, 10:22 a.m.
BMFOLT73-0766924 01199803P01 BMP TAX MODULE NM CTRL:AMET
72119-077-4561-8 UPCYC:12
CAF:0/AIMS SC:00 MF ASS'D MOD BAL: 52,163.92- ARDI:0 FRZ: -VW
ASED:00-00-0000 INTEREST TO DATE:04-06-1998 EMIS/
ACCTG CTRL DO:72 *C CORP*
2% TRIGGER DATE: 00-00-0000
FTP START DT:00-00-0000
HISTORIC DO:73 INT TOT: 0.00 FTP MONTHS:00
TDA COPYS: INT ASS'D: 0.00 FTP TOT: 0.0
DAR CC:81 INT PAID: 0.00 FTP ASS'D 0.0
LATEST CSED DATE: 00-00-0000 RSED DT: 00-00-0000 RET DUE DT: 04-30-1998
TRANS DATE AMOUNT CYCLE DLN VARIABLE DATA
650 01221998 20,074.05-199804 72119-022-04824-8
ELEC PAY IND:E EFT TRACE#: 49-128802203315843
650 02041996 9,006.70-199806 72119-035-52998-8
ELEC PAY IND:E EFT TRACE#: 49-128803503862600
650 02191998 9,006.68-199808 72119-050-21040-8
ELEC PAY IND:E EFT TRACE#: 49-128805004170996
520 02021998 0.00 199810 73977-462-06831-8 CLOS CD:81
APP/
BNK CD:3
650 03041998 7,591.00-199810 72119-063-18905-8
ELEC PAY IND:E EFT TRACE#: 49-128806304398117
PAGE 001 OF 002 SMFPG 002
Thu, 26 Mar 1998, 10:22 am
BMFOLT73-0766924 01199803P02 BMF TAX MODULE NM CTRL:AMET
72119-077-49651-8 UP-CYC:12
TRANS DATE AMOUNT CYCLE CLN VARIABLE DATA
650 03181998 6,425.49- 199812 72119-077-49651-8
ELEC PAY IND:3 EFT TRACE#: 49-128807704712343
PAGE 002 OF 002 BMFPG 001
